Credit Check: The Full Discretion Approach to Credit Selection

Highlights

• The Loomis Sayles Full Discretion Team follows two core philosophies – enterprise value and convexity – to help capitalize on persistent inefficiency in corporate credit and drive excess return potential.
• Through fundamental research and active management, the team seeks to capture risk premiums that other investors may be unable or unwilling to access.
• This paper reviews the six security selection strategies the team uses to help identify and capitalize on mispricing throughout market cycles.