Core Fixed Income
The Core Fixed Income strategy seeks to outperform the Bloomberg US Aggregate Bond Index while maintaining a benchmark-aware risk return objective
Primary Benchmark:
Bloomberg US Aggregate Index
Strategy Highlights
- Investment flexibility is constrained to the investment grade portion of the US fixed income markets
- Duration bands: +/- 1 year (typically within +/- 0.25 year) relative to the index
- All investments must be US dollar denominated
- 3% issuer limit or the benchmark weight plus 2% (whichever is greater at the time of purchase), Treasurys and GSEs excluded
- 25% industry maximum or benchmark weighting plus 10%, (whichever is greater at the time of purchase)
The Core Fixed Income Composite includes all discretionary separate and commingled accounts with market values greater than $20 million managed by Loomis Sayles with investment guidelines prescribing investment in U.S. dollar denominated bonds that do not allow high yield and with the following characteristics. The portfolio has a total rate of return objective with an annualized tracking error target of 75 to 125 basis points over a full market cycle. Proprietary quantitative models are employed in portfolio construction and risk assessment. Loomis Sayles’s security level research and tactical sector allocation are primary alpha sources for this product. Yield curve and duration management are additional tools utilized by the portfolio management team. Prior to June 1, 2015 the Composite minimum account size requirement was $5 million. The Composite inception date is January 1, 1989. The Composite was created in 1993.
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Primary Benchmark:
Bloomberg US Aggregate Index
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Quarter-End Performance as of 3/31/2022 | Cumulative | Gross | Net | Index |
|---|
| 3 month | -5.98% | -6.02% | -5.93% | | Year-to-date | -5.98% | -6.02% | -5.93% |
Trailing Performance as of 3/31/2022 | Average Annualized Return | Gross | Net | Index |
|---|
| 1 year | -3.55% | -3.74% | -4.15% | | 3 years | 2.87% | 2.67% | 1.69% | | 5 years | 3.17% | 2.97% | 2.14% | | 10 years | 3.42% | 3.21% | 2.24% | | Since Inception 1/1/1989 | 6.41% | 6.13% | 5.74% |
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Period Performance | Year | Gross | Net | Index |
|---|
| 2021 | -0.71% | -0.91% | -1.54% | | 2020 | 9.69% | 9.48% | 7.51% | | 2019 | 10.19% | 9.97% | 8.72% | | 2018 | 0.24% | 0.04% | 0.01% | | 2017 | 4.53% | 4.32% | 3.54% | | 2016 | 4.14% | 3.93% | 2.65% | | 2015 | 1.05% | 0.85% | 0.55% | | 2014 | 7.22% | 7.03% | 5.97% | | 2013 | -1.04% | -1.22% | -2.02% | | 2012 | 7.62% | 7.36% | 4.21% |
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Performance data shown represents past performance and is no guarantee of, and not necessarily indicative 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 as of -1/-1/-1
| Currency Distribution | |
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| @ERROR% | | Duration Distribution | |
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| @ERROR% |
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| Sector Distribution (Fixed) | |
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| 0.0% | | Country Distribution | |
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| @ERROR% | | Maturity Distribution | |
|---|
| @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 as of -1/-1/-1
| Currency Distribution | Fund | Index |
|---|
| @ERROR% | 0.0% | | Duration Distribution | Fund | Index |
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| @ERROR% | @ERROR% |
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| Sector Distribution (Fixed) | Fund | Index |
|---|
| 0.0% | 0.0% | | 0.0% | 0.0% | | Country Distribution | Fund | Index |
|---|
| @ERROR% | 0.0% | | Maturity Distribution | Fund | Index |
|---|
| @ERROR% | @ERROR% | | Credit Quality | Fund | Index |
|---|
| @ERROR% | 0.0% |
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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%.