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Highlights

  • This is the last stage of a succession plan the Loomis Sayles Full Discretion Team has been working on for the past 20 years. Dan Fuss is taking a significant step back from day-to-day portfolio management, but he's not retiring.
  • The team now consists of about 30 people dedicated to the Full Discretion platform. The experienced portfolio management team (Elaine, Brian, Todd Vandam, Matt) is supported by six very seasoned strategists who help the team within individual market segments and bottom-up security selection.
  • Philosophy: One has to be willing to be opportunistic. The team takes a long-term view, does their homework and research because research is really going to drive the ability to gain comfort in making those high-conviction investments.
  • Brian Kennedy outlook: We have seen interest rates rise modestly in recent months, but rates are lower than what most of us have seen in our careers. Right now, it’s imperative in our view that a portfolio has the flexibility to look for yield and return without being tethered to interest rates and duration.
  • Elaine Stokes market insight: We’re in the recovery phase as we see it and we expect spreads to tighten, especially if we get the anticipated fiscal package and a potential follow-up package next year when the new administration steps in.
  • Matt Eagan views: We believe we've been finding some gems in the corporate space and global enterprises that are in emerging markets but are likely to compete on a global scale. We are looking at non-dollar, which tends to do well in global reflation.
The views and opinions expressed may change based on market and other conditions. This material is provided for informational purposes only and should not be construed as investment advice. All investing involves risk, including the risk of loss. Investment risk exists with equity, fixed income, and alternative investments.

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