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Loomis Sayles Bond Retail LSBRX Fund Analysis

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Celebrated Loomis Sayles Bond Manager Elaine Stokes Will Retire in February 2024; Ratings Unchanged

null Brian Moriarty

Brian Moriarty

Analyst Note

On May 31, 2023, Loomis Sayles announced that Elaine Stokes will retire from the firm in February 2024. Stokes has spent her whole career at Loomis Sayles, which she joined in 1988, starting as a portfolio specialist and trader before earning portfolio management responsibilities in 2000. She became co-head of the firm's Full Discretion team in 2012, working alongside legendary bond investor Dan Fuss. Stokes will relinquish all portfolio management duties on Dec. 31, 2023, and will retain her position as co-head of the Full Discretion team and seat on Loomis' board of directors until her February 2024 retirement. Matt Eagan, current co-head of the Full Discretion team, will assume sole responsibility for leading that team. Similarly, Eagan and comanager Brian Kennedy will remain in place on Loomis Sayles Bond, Loomis Sayles Strategic Income, and Loomis Sayles Investment Grade Bond. Concurrent with this announcement, four of the Full Discretion team's investment strategists have been promoted to portfolio manager or assistant portfolio manager, but they haven't been added to the prospectuses of the aforementioned funds at this time. While Stokes' retirement represents the end of a celebrated career, the remaining team's skill and resources distinguish the group from competitors. The Full Discretion team boasts several strategists, analysts, and investment directors, as well as small research teams that support niche asset classes (convertibles) or work on idiosyncratic research projects. Beyond that, the portfolio managers also draw on one of the largest fundamental research groups in the industry, including over 50 credit analysts, nearly 30 traders, and a well-regarded macroeconomic research group.

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