Apostle Asset Management

Apostle Loomis Sayles Senior Loan Fund

Investment Objective

The Apostle Loomis Sayles Senior Loan Fund’s investment objective is to seek to provide a high level of current income and such preservation of capital as is consistent with investment in a diversified portfolio of senior loans.

Primary Investments

The Fund seeks to accomplish its investment objective through investment primarily in a diversified portfolio of predominantly US Senior Loans. The Fund may also invest in interest rate swaps, total return swaps, credit default swaps and currency futures, forwards or options, warrants and other equity interests and derivatives.

Style

Credit, Floating Rate.

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 and bottom up research Loomis believe they can identify loans that have attractive risk/return prospects. 

Process

The process analyses the fundamentals of each company loan.

1. Fundamental Analysis of the Borrower - Enterprise value vs. loan value, Default risk, Credit cushions, Borrower’s cash flow generating ability, and, Borrower’s credit standing and management.

2. Structural Features - Underlying collateral, Appropriate loan covenants, Rate of interest on the loan, Rating/quality.

The portfolio is designed with the following characteristics:

• A higher qulaity bias than the index for most of the credit cycle
• Portfolio discipline on specific and industry risks
• Intense focus on individual credit quality

This results in:

• Performance close to the index in strong credit environments
• Beating the index when defaults increase and over the credit cycle
• Delivering a transparent asset allocation solution

Portfolio Fit

Will compliment a traditional Fixed Income portfolio 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 day). Applications and redemptions are subject to the timelines disclosed in the Information Memorandum. Apostle Asset Management Limited act as the Responsible Entity. 

Investment Manager

Loomis, Sayles & Company L.P.

Portfolio Team

Two portfolio managers supported by a large and well resourced credit research team.

APIR Code

IAM0006AU

Pdf Download

Product Flyer - printable version
Monthly Fact Sheet - December 2011
MIT Payment Notice - 30 June 2011
MIT Payment Notice - 15 April 2011
MIT Payment Notice - 30 June 2010
MIT Payment Notice - 30 June 2009

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