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High-Yield 'Substitutes'

Loomis Sayles' Kathleen Gaffney discusses her broader definition of "high yield" and where her team had recently been finding good yields for the risk.


Michael Herbst: Hello, I am Michael Herbst, mutual fund analyst with Morningstar, and we are at the Morningstar 2009 Investment Conference in Chicago. This afternoon I have the honor of being joined by Kathleen Gaffney, the vice president and co-portfolio manager at Loomis, Sayles & Company where she manages a number of funds alongside Dan Fuss. Kathleen, welcome.

Kathleen Gaffney: Thank you, Michael.

Michael Herbst does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.