Core Municipal Bond Managed Account Overview Overview The Core Municipal Bond Managed Account strategy seeks to provide a high level of tax-free income, after-tax return, and a lower level of price volatility than long-term bonds Primary BenchmarkBloomberg Managed Money Intermediate Bond IndexStrategy FactsStrategy Inception: 9/1/1991 Composite Inception: 4/1/1995Portfolio Management Dawn Mangerson Portfolio Manager, Head of Municipal Portfolio Management Read bio Pramila Agrawal Portfolio Manager, Director of Custom Income Strategies Read bio Strategy HighlightsFund FactsView Fact SheetView Fact CommentaryStrategy Highlights The Municipal Bond team follows a disciplined, research-driven, risk-managed process to identify attractive relative value within the investment grade municipal universe Portfolio managers and credit research analysts select securities based on a rigorous internal quantitative and qualitative review. Security selection seeks to exploit sector, state and individual security relative value opportunities Interest rate risk is managed by targeting duration exposure within close proximity to the benchmark The maturity structure is actively adjusted relative to the benchmark to take advantage of current and anticipated changes to the shape of the yield curve Tax implications, including tax loss harvesting can play an integral role in the relative value analysis conducted to evaluate investment alternatives Typical Portfolio Construction Typical range of maturities: 1 – 17 Years Typical average duration: 5.5 – 6.5 Years Credit Quality: Investment Grade, Average of AA Sectors: Core Municipal Effective December 31, 2024, the Medium (10 Year) Municipal Bond Managed Account Composite changed its name to the Core Municipal Bond Managed Account Composite. The Composite includes all discretionary Managed Accounts (Wrap/Bundled Fee) managed by Loomis Sayles with guidelines prescribing investment in primarily U.S. Dollar denominated municipal bonds with target duration of 6 to 8 years and has a benchmark of the Bloomberg Managed Money Intermediate Bond Index or similar index which reflect the Composite investment strategy and duration target. Taxable securities may comprise a portion of the portfolio’s investment allocation, typically less than 25%. The Composite inception date is January 1, 2005. The composite was created in April 2005. Performance Primary Benchmark: Bloomberg Managed Money Intermediate Bond Index Year-to-Date Performance as of 5/8/2025 Class NA N/A Month-End Performance as of -1/-1/-1Cumulative Total ReturnClass NA3 monthN/AYear-to-dateN/AAnnualized Total ReturnClass NAInception DateN/ASince InceptionN/AQuarter-End Performance as of -1/-1/-1Cumulative Total ReturnClass NA3 monthN/AYear-to-dateN/AAnnualized Total ReturnClass NAInception DateN/ASince InceptionN/A Gross Expense Ratio: (I) NA; Net Expense Ratio: (I) NA Lipper Ranking as of -1/-1/-1 1 Year/3 Years/5 Years/10 Years/Lipper Category: NAMorningstar Ranking as of -1/-1/-1 1 Year/3 Years/5 Years/10 Years/Morningstar Category: NALipper 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. Morningstar Percentile Rankings are based on total return and do not account for sales charges. Percentile ranks are based on absolute rank within specific fund categories and time periods. Within a category, all funds' percentile rankings range from 1 (best) to 100 (worst), with all intermediate values spread evenly over that range. The fund's absolute peer ranking may not be available for all time periods. Morningstar does not calculate an absolute peer ranking when a fund's performance has been linked to a preexisting share class. Past performance is no guarantee of future results. Performance data shown represents past performance and is no guarantee 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.Lipper Analytical Services Inc., a Thomson Reuters Company, is a nationally recognized organization that provides performance information for mutual funds. 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Monthly Characteristics Monthly as of -1/-1/-1 Duration Distribution @ERROR% Sector Distribution (Fixed) * 0.0% Country Distribution @ERROR% Maturity Distribution @ERROR% 1 Quarterly Characteristics Quarterly as of -1/-1/-1 Duration DistributionFundIndex @ERROR%@ERROR% Sector Distribution (Fixed) *FundIndex 0.0%0.0% 0.0%0.0% Country DistributionFundIndex @ERROR%0.0% Maturity DistributionFundIndex @ERROR%@ERROR% 1 Holdings Top 10 holdings may not be representative of current or future holdings and will evolve over time. x < Page: / > Download PDF