UAT Core Fixed Income Overview Composite Performance Overview The Core Fixed Income strategy seeks to outperform the Bloomberg US Aggregate Bond Index while maintaining a benchmark-aware risk return objective Primary BenchmarkBloomberg US Aggregate IndexPortfolio Management Chris Harms Portfolio Manager Read bio Cliff Rowe Portfolio Manager Read bio Dan Conklin Portfolio Manager Read bio Strategy Highlights Individual investment ideas are evaluated on the basis of their investment return potential and contribution to portfolio risk Top-down macroeconomic analysis combined with bottom-up security selection helps drive portfolio construction Seeks to create portfolios diversified by sector, industry and issuer 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 Issuer maximum of 3% or the benchmark weight plus 2% (whichever is greater at the time of purchase), Treasurys and GSEs excluded Industry maximum of 25% or the benchmark weight plus 10%, (whichever is greater at the time of purchase) Investment universe typically includes US Treasurys, agencies, asset-backed securities (ABS), commercial mortgage-backed securities (CMBS), investment grade corporate bonds, mortgage-backed securities (MBS), and Yankee bonds Strategy Facts as of 3/31/2025Strategy Inception1/1/1984Strategy Assets$25.9 billionComposite Assets$10.3 billionNumber of Composite Accounts20Fact Sheet Additional ContentA Dynamic Approach to Core Fixed Income Investing The 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. Performance Primary Benchmark: Bloomberg US Aggregate Index Quarter-End Performance as of 3/31/2025CumulativeGrossNetIndex3 month2.81%2.74%2.78% Year-to-date2.81%2.74%2.78%Trailing Performance as of 3/31/2025Annualized Total ReturnGrossNetIndex1 year5.64%5.34%4.88% 3 years1.20%0.93%0.52% 5 years0.83%0.59%-0.40% 10 years2.37%2.14%1.46% Since Inception 1/1/19895.97%5.69%5.29% Period PerformanceYearGrossNetIndex20242.48%2.19%1.25% 20236.17%5.87%5.53% 2022-12.89%-13.06%-13.01% 2021-0.71%-0.91%-1.54% 20209.69%9.48%7.51% 201910.19%9.97%8.72% 20180.24%0.04%0.01% 20174.53%4.32%3.54% 20164.14%3.93%2.65% 20151.05%0.85%0.55% 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)FundIndex 0.0%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 Holdingsas 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