Intermediate Duration Stable Value Fixed Income

The Intermediate Duration Stable Value Fixed Income strategy seeks to outperform the Bloomberg US Intermediate Government/Credit Bond Index while maintaining a benchmark-aware risk return objective.
Strategy Assets* $17.3 billion As of 12/31/2025
Asset Class Fixed
Inception Date 8/1/2011

Overview

Strategy Details

Primary Benchmark
Bloomberg US Intermediate Government/Credit Bond Index

Available Vehicles

  • Institutional Separate Account

Portfolio Managers

Chris Harms

Co-Head of the Relative Return Team, Portfolio Manager

45 yearsIndustry Experience
15 yearsTenure at Loomis Sayles

Cliff Rowe, CFA

Portfolio Manager

33 yearsIndustry Experience
33 yearsTenure at Loomis Sayles

Daniel Conklin, CFA

Portfolio Manager

15 yearsIndustry Experience
13 yearsTenure at Loomis Sayles

About the Team

Relative Return

A comprehensive fixed income platform powered by seasoned investors and focused, benchmark aware investment strategies.

$138.5B assets under management (as of 12/31/2025)

Investment Strategy

  • Benchmark aware strategy that is broadly diversified across the US investment grade bond market including US Treasurys, securitized markets and corporate bonds.  Allocations of up to 10% in non-investment grade corporate bonds are available upon request.
  • Strategy aims to generate a return in excess of the benchmark, generate alpha consistently and produce top of peer group performance outcomes.
  • Bottom up and top down investment process focused on core competencies of security selection and active market exposure adjustments through a diversified portfolio.  Duration is matched to the benchmark and is not an alpha generation tool.
  • The primary drivers of alpha are security selection and sector allocation, or the active management of risk.

Composite Performance

Cumulative Total Return (%)
As of 12/31/2025
Period Gross Net Index
3 Months 1.35%1.28%1.20%
Year-To-Date 7.56%7.25%6.97%
Annualized Total Return (%)
As of 12/31/2025
Period Gross Net Index
1 Year 7.56%7.25%6.97%
3 Years 5.86%5.55%5.06%
5 Years 1.50%1.24%0.96%
10 Years 2.88%2.64%2.29%
Since 8/1/2011 2.91%2.67%2.21%
Period Performance (%)
As of 12/31/2025
Year Gross Net Index
2025 7.56%7.25%6.97%
2024 3.84%3.54%3.00%
2023 6.21%5.91%5.24%
2022 -8.22%-8.41%-8.23%
2021 -1.05%-1.25%-1.44%
2020 7.07%6.85%6.43%
2019 7.62%7.38%6.80%
2018 0.94%0.72%0.88%
2017 2.77%2.55%2.14%
2016 3.14%2.91%2.08%
Inception Date 8/1/2011

Documents

Important Disclosures

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.
 
KEY RISKS: Credit Risk, Issuer Risk, Interest Rate Risk, Liquidity Risk, Non-US Securities Risk, Currency Risk, Prepayment Risk and Extension Risk. Investing involves risk including possible loss of principal.
 
There is no guarantee that the investment objective will be realized or that the strategy will generate positive or excess return.
 
Investment vehicles may not be available to all investors and are subject to eligibility.

The Composite includes all discretionary accounts with market values greater than $20 million managed by Loomis Sayles with stable value guidelines prescribing investment in U.S. dollar denominated bonds with limited, yet discretionary use of non-investment grade issues, with primary investment in investment grade fixed income securities of all major fixed income sectors such as corporates, governments, and mortgages with intermediate term maturities. The Composite inception date is August 1, 2011. The Composite was created in October 2022.