Credit Income (With Fund) Managed Account
The Credit Income (With Fund) Managed Account seeks high current income with a secondary objective of capital growth
Matt Eagan, CFA
Bloomberg US Credit Index
- Value-driven, opportunistic approach begins with bottom-up research and incorporates top-down macro inputs
- Focus on long-term investment horizon
- Broad opportunity set within credit sectors, making use of out-of-benchmark securities for value and diversification
- Under normal market conditions, the portfolio will invest at least 80% of assets in fixed income securities
- May invest up to 35% of its assets in below investment grade fixed income securities
- May invest up to 30% of its assets in securities of foreign issuers, including those in emerging markets
- May invest up to 45% of its assets in certain commingled funds for diversification purposes
- Investment universe typically includes US Treasurys, investment grade corporate bonds, high yield corporate bonds, asset-backed securities, commercial mortgage-backed securities, mortgage-backed securities, and Yankee bonds
The Composite includes all discretionary accounts with market values greater than $20 million managed by Loomis Sayles with the objective of maximizing total return and higher levels of portfolio income through individual security selection with a 50% limit in high yield securities and use of out-of-benchmark sectors including but not limited to emerging market debt, convertibles, government debt, bank loans, and securitized debt (but excluding non-dollar and equity securities). Yield curve and duration management provide additional tactical tools for the portfolio management team with strategic allocation to higher yielding credit sensitive sectors employing Loomis Sayles security level research and significant allocation to non-index sectors as primary sources of alpha. Tracking error is not explicitly targeted for this product, however, historically these portfolios have exhibited annualized tracking error of approximately 200-600 basis points. The Composite inception date is January 1, 2010. The Composite was created in 2020.
Year-to-Date Performance as of 3/24/2023
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Lipper and Morningstar rankings are based on total returns calculated by each ranking entity. Rankings do not take into account sales charges, if applicable, but include reinvestment of dividends and capital gains, if any.
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Performance data shown represents past performance and is no guarantee of, and not necessarily indicative of, future results. Total return and value will vary and you may have a gain or loss when shares are sold. Current performance may be lower or higher than quoted. Returns include changes in share price and reinvestment of dividends and capital gains, if any.
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