Apostle Loomis Sayles Credit Opportunities Fund
Investment Objective
The Apostle Loomis Sayles Credit Opportunities Fund’s investment objective is to seek to outperform three month US Dollar LIBOR by 400 basis points per annum (net of fees) over a market cycle.
Primary Investments
The Fund invests primarily in Global High Yield Securities (including Emerging Market Securities) and US Senior Loans and can also invest in Treasury Securities, Treasury Futures, cash, foreign currency forward contracts and derivatives.
Style
Credit focussed. Target return offering both defensive and opportunistic characteristics over a credit cycle.
Investment Philosophy
Loomis Sayles' philosophy is based on the experience that bond markets do not properly assess credit risk and tend to overact to corporate events. Through intensive research, Loomis Sayles can identify mispriced securities to generate a superior excess return.
Process
The Fund aims to achieve its objective by tactically rotating the investment allocation between Senior Loans and Global High Yield Securities. The Fund offers an alternative that heavily weights (generally at a level between 50% and 85%) either Senior Loans or Global High Yield Securities depending on global economic conditions and valuations. The allocation process is augmented by the Investment Manager's emphasis on bottom-up, credit research-driven issue selection with awareness of the macro-economic environment. Over a market cycle, the Fund shifts its allocation between Global High Yield Securities and Senior Loans to seek to achieve its objective.
Portfolio Fit
Will complement a traditional Fixed Income portfolio or alternatives strategy by providing diversification benefits.
Currency
Generally between 95-105% of the Fund's assets are hedged into Australian dollars.
Management Fees
Available upon request.
Vehicle
Fully distributing wholesale Australian Managed Investment Scheme. The Fund has daily valuations and is open to applications and redemptions on 1st and 15th day of each month (or the first business day after those days). Applications and redemptions are subject to the timelines disclosed in the Information Memorandum. Apostle Asset Management Limited acts as Responsible Entity.
Investment Manager
Loomis, Sayles & Company L.P.
Portfolio Team
Three portfolio managers supported by the broader Loomis Sayles credit research and risk management teams.
Loomis Sayles Global Asset Allocation (GAA) team comprising the senior investment professionals at Loomis Sayles, is responsible for the asset allocation positioning of the fund.
APIR Code
IAM0004AU
Pdf Download
Product Flyer - printable version
Monthly Fact Sheet - December 2011
MIT Payment Notice - 30 June 2011
MIT Payment Notice - 30 June 2010
MIT Payment Notice - 30 June 2009
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