Senior Loan Overview Composite Performance Overview The Senior Loan strategy is designed to deliver pure bank loan exposure and outperform the benchmark over a full credit cycle Primary BenchmarkMorningstar LSTA US BB Ratings Loan IndexPortfolio ManagementPortfolio Managers Matt Eagan Portfolio Manager, Head of Full Discretion Read bio Michael Klawitter Portfolio Manager Read bio Heather Young Portfolio Manager Read bio Peter Sheehan Portfolio Manager Read bio Eric Williams Portfolio Manager Read bio Associate Portfolio Manager 1 Christopher Romanelli Associate Portfolio Manager & Strategist Read bio Strategy HighlightsThe Senior Loan strategy is based primarily on defensive strategies:Investment philosophy is transparent, benchmark-aware and long-onlyIntense fundamental research attempts to reduce default riskFavor higher quality, par loans that offer multiple credit cushionsPortfolios are diversified by industry and securitySeeks to avoid second lien loans under most market conditions Strategy Facts as of 12/31/2024Strategy Inception9/1/2004Strategy Assets$2.1 billionComposite Assets$1.1 billionNumber of Composite Accounts1Fact Sheet Diversification does not ensure a profit or guarantee against a loss. The Composite includes all discretionary accounts with market values greater than $50 million managed by Loomis Sayles with a primary focus on attractive risk/return trade-offs within the bank loan sector. The Composite inception date is September 1, 2004. The Composite was created in 2007. 1Associate Portfolio Managers do not have discretion over the strategy. Performance Primary BenchmarkMorningstar LSTA US BB Ratings Loan Index Quarter-End Performance as of 12/31/2024CumulativeGrossNetIndex3 month2.33%2.21%2.21% Year-to-date8.41%7.90%8.15%Trailing Performance as of 12/31/2024Annualized Total ReturnGrossNetIndex1 year8.41%7.90%8.15% 3 years7.08%6.58%7.01% 5 years5.27%4.77%4.95% 10 years4.80%4.32%4.63% Since Inception 9/1/20044.64%4.14%4.27% Period PerformanceYearGrossNetIndex20248.41%7.90%8.15% 202311.50%10.98%10.18% 20221.57%1.09%2.84% 20213.64%3.15%3.12% 20201.59%1.11%0.75% 20198.56%8.05%9.31% 20180.21%-0.26%-0.42% 20173.72%3.24%3.44% 20168.04%7.54%7.33% 20151.48%1.00%2.23% Performance data shown represents past performance and is no guarantee of future results. Current performance may be lower or higher than quoted. Returns are shown in US dollars and are annualized for one and multi-year periods. Gross returns are net of trading costs. Net returns are gross returns less effective management fees. There is no guarantee that the investment objective will be realized or that the strategy will generate positive or excess return. Monthly Characteristics Monthly as of -1/-1/-1 Currency Distribution @ERROR% Duration Distribution @ERROR% Sector Distribution (Fixed) 0.0% Country Distribution @ERROR% Maturity Distribution @ERROR% Credit Quality @ERROR% Portfolio composition statistics are from the adviser’s internal system and may not match the fund’s regulatory documents.Credit Quality reflects the highest credit rating assigned to individual holdings of the fund among Moody’s, S&P or Fitch; ratings are subject to change. The fund’s shares are not rated by any rating agency and no credit rating for fund shares is implied. Bond credit ratings are measured on a scale that generally ranges from AAA (highest) to D (lowest). Cash & Equivalents reflects unsettled trades, fees and derivatives. Negative Cash & Equivalents reflect the market value of future trade commitments for the fund. ABS/RMBS: Asset-Backed Securities/Residential Mortgage-Backed Securities. Agency MBS: Agency Mortgage-Backed Securities. CMBS: Commercial Mortgage-Backed Securities. Due to rounding, Sector, Currency, Country, Duration, Maturity and Quality distribution totals may not equal 100%. Quarterly Characteristics Quarterly as of -1/-1/-1 Currency DistributionFundIndex @ERROR%0.0% Duration DistributionFundIndex@ERROR%@ERROR% Sector Distribution (Fixed)FundIndex0.0%0.0% 0.0%0.0% Country DistributionFundIndex@ERROR%0.0% Maturity DistributionFundIndex @ERROR%@ERROR% Credit QualityFundIndex@ERROR%0.0% Portfolio composition statistics are from the adviser’s internal system and may not match the fund’s regulatory documents.Credit Quality reflects the highest credit rating assigned to individual holdings of the fund among Moody’s, S&P or Fitch; ratings are subject to change. The fund’s shares are not rated by any rating agency and no credit rating for fund shares is implied. Bond credit ratings are measured on a scale that generally ranges from AAA (highest) to D (lowest). Cash & Equivalents reflects unsettled trades, fees and derivatives. Negative Cash & Equivalents reflect the market value of future trade commitments for the fund. ABS/RMBS: Asset-Backed Securities/Residential Mortgage-Backed Securities. Agency MBS: Agency Mortgage-Backed Securities. CMBS: Commercial Mortgage-Backed Securities. Due to rounding, Sector, Currency, Country, Duration, Maturity and Quality distribution totals may not equal 100%. Holdings Top Ten Holdings as of -1/-1/-1% Assets@ERROR% Top 10 holdings may not be representative of current or future holdings and will evolve over time. x < Page: / > Download PDF