Dividend Investing Ideas Center
Critical Facts You Need to Know About Preferred Stocks
Have you ever wished for the safety of bonds, but the return potential...
Loomis Sayles Institutional High Income Fund
mutual fund
LSHIX
Payout Change
Pending
Price as of:
$5.93
+0.0
+0.0%
primary theme
High Yield Bond
share class
LSHIX (Mutual Fund)
Loomis Sayles Institutional High Income Fund
Payout Change
Pending
Price as of:
$5.93
+0.0
+0.0%
primary theme
High Yield Bond
share class
LSHIX (Mutual Fund)
Loomis Sayles Institutional High Income Fund
Payout Change
Pending
Price as of:
$5.93
+0.0
+0.0%
primary theme
High Yield Bond
share class
Name
As of 10/04/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
8.8%
1 yr return
17.2%
3 Yr Avg Return
2.3%
5 Yr Avg Return
4.3%
Net Assets
$332 M
Holdings in Top 10
15.8%
52 WEEK LOW AND HIGH
$5.9
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.70%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 105.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$3,000,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 10/04/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
LSHIX - Profile
Distributions
- YTD Total Return 8.8%
- 3 Yr Annualized Total Return 2.3%
- 5 Yr Annualized Total Return 4.3%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 4.07%
- Dividend Yield 5.8%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameLoomis Sayles Institutional High Income Fund
-
Fund Family NameNatixis Loomis Sayles Funds
-
Inception DateMay 27, 1997
-
Shares OutstandingN/A
-
Share ClassInstl
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerMatthew Eagan
Fund Description
The Fund will invest primarily in below investment-grade fixed-income securities (commonly known as “junk bonds”) and other securities that are expected to produce a relatively high level of income (including income-producing preferred stocks and common stocks). Below investment-grade fixed-income securities are rated below investment-grade quality (i.e., none of the three major ratings agencies (Moody’s Investors Service, Inc., Fitch Investor Services, Inc. or S&P Global Ratings) have rated the securities in one of their respective top four ratings categories). The Fund’s fixed-income securities investments may include unrated securities (securities that are not rated by a rating
agency) if Loomis Sayles determines that the securities are of comparable quality to rated securities that the Fund may purchase. The Fund may invest in fixed-income securities of any maturity.
In deciding which securities to buy and sell, Loomis Sayles may consider a number of factors related to the bond issue and the current bond market, including, for example, the stability and volatility of a country’s bond markets, the financial strength of the issuer, current interest rates, current valuations, Loomis Sayles’ expectations regarding general trends in interest rates and currency considerations. Loomis Sayles will also consider how purchasing or selling a bond would impact the overall portfolio’s risk profile (for example, its sensitivity to currency risk, interest rate risk and sector-specific risk) and potential return (income and capital gains).
Three themes typically drive the Fund’s investment approach. First, Loomis Sayles generally seeks fixed-income securities that are attractively valued relative to the Loomis Sayles’ credit research team’s assessment of credit risk. The broad coverage combined with the objective of identifying attractive investment opportunities makes this an important component of the investment approach. Second, the Fund may invest significantly in securities the prices of which Loomis Sayles believes are more sensitive to events related to the underlying issuer than to changes in general interest rates or overall market default rates. These securities may not have a direct correlation with changes in interest rates, thus helping to manage interest rate risk and to offer diversified sources for return. Third, Loomis Sayles analyzes different sectors of the economy and differences in the yields (“spreads”) of various fixed-income securities (U.S. governments, investment-grade corporates, securitized assets, high-yield corporates, emerging markets, non-U.S. sovereigns and credits, convertibles, bank loans and municipals) in an effort to find securities that it believes may produce attractive returns for the Fund in comparison to their risk.
The Fund may invest up to 50% of its assets in foreign securities, including emerging market securities. The Fund may invest without limit in obligations of supranational entities (e.g., the World Bank). Although certain securities purchased by the Fund may be issued by domestic companies incorporated outside of the United States, the Adviser does not consider these securities to be foreign if the issuer is included in the U.S. fixed-income indices published by Bloomberg.
The fixed-income securities in which the Fund may invest include, among other instruments, corporate bonds and other debt securities (including junior and senior loans), U.S. government securities, commercial paper, collateralized loan obligations, zero-coupon securities, mortgage-backed securities, including mortgage dollar rolls, stripped mortgage-backed securities, and collateralized mortgage obligations, other asset-backed securities, when-issued securities, real estate investment trusts (“REITs”), securities issued pursuant to Rule 144A under the Securities Act of 1933 (“Rule 144A securities”), other privately placed investments such as private credit investments, repurchase agreements and convertible securities. The Fund may also engage in options and futures transactions, foreign currency transactions (such as forward currency contracts) and swap transactions (including credit default swaps, in which one party agrees to make periodic payments to a counterparty in exchange for the right to receive a payment in the event of a default of the underlying reference security).
LSHIX - Performance
Return Ranking - Trailing
| Period | LSHIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 8.8% | -5.4% | 15.5% | 12.62% |
| 1 Yr | 17.2% | 0.0% | 19.6% | 12.94% |
| 3 Yr | 2.3%* | -14.8% | 21.0% | 61.42% |
| 5 Yr | 4.3%* | -11.8% | 37.6% | 35.96% |
| 10 Yr | 3.7%* | -5.1% | 20.1% | 57.08% |
* Annualized
Return Ranking - Calendar
| Period | LSHIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 3.4% | -4.7% | 14.3% | 87.99% |
| 2022 | -15.8% | -33.4% | 3.6% | 55.90% |
| 2021 | 2.0% | -8.4% | 8.2% | 12.07% |
| 2020 | -1.6% | -13.2% | 302.7% | 78.46% |
| 2019 | 3.5% | -4.4% | 13.3% | 93.33% |
Total Return Ranking - Trailing
| Period | LSHIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 8.8% | -5.4% | 15.5% | 12.62% |
| 1 Yr | 17.2% | 0.0% | 19.6% | 12.94% |
| 3 Yr | 2.3%* | -14.8% | 21.0% | 61.42% |
| 5 Yr | 4.3%* | -11.8% | 37.6% | 35.96% |
| 10 Yr | 3.7%* | -5.1% | 20.1% | 57.08% |
* Annualized
Total Return Ranking - Calendar
| Period | LSHIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 10.0% | -4.7% | 18.7% | 85.88% |
| 2022 | -11.7% | -33.4% | 47.8% | 72.62% |
| 2021 | 8.2% | -8.4% | 12.4% | 8.84% |
| 2020 | 3.5% | -9.6% | 325.6% | 78.98% |
| 2019 | 10.5% | -3.8% | 19.4% | 84.32% |
NAV & Total Return History
LSHIX - Holdings
Concentration Analysis
| LSHIX | Category Low | Category High | LSHIX % Rank | |
|---|---|---|---|---|
| Net Assets | 332 M | 3.13 M | 23.6 B | 65.05% |
| Number of Holdings | 507 | 2 | 3879 | 32.36% |
| Net Assets in Top 10 | 51.9 M | -492 M | 5.25 B | 64.23% |
| Weighting of Top 10 | 15.77% | 4.2% | 146.0% | 38.21% |
Top 10 Holdings
- FIXED INC CLEARING CORP.REPO 4.00%
- U.S. Treasury Notes 2.56%
- Hercules LLC 1.42%
- DISH Network Corp 1.39%
- Uber Technologies Inc 1.37%
- Teva Pharmaceutical Finance Netherlands III BV 1.26%
- CCO Holdings LLC / CCO Holdings Capital Corp 0.99%
- Directv Financing LLC / Directv Financing Co-Obligor Inc 0.99%
- CCO Holdings LLC / CCO Holdings Capital Corp 0.95%
- Hilton Grand Vacations Borrower Escrow LLC / Hilton Grand Vacations Borrower Esc 0.86%
Asset Allocation
| Weighting | Return Low | Return High | LSHIX % Rank | |
|---|---|---|---|---|
| Bonds | 90.16% | 0.00% | 145.36% | 85.28% |
| Stocks | 6.19% | 0.00% | 99.64% | 8.09% |
| Convertible Bonds | 5.35% | 0.00% | 17.89% | 5.37% |
| Other | 4.43% | -39.08% | 99.96% | 4.88% |
| Preferred Stocks | 0.49% | 0.00% | 4.97% | 16.59% |
| Cash | 0.00% | -52.00% | 48.02% | 98.37% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | LSHIX % Rank | |
|---|---|---|---|---|
| Communication Services | 19.76% | 0.00% | 99.99% | 23.98% |
| Healthcare | 18.17% | 0.00% | 22.17% | 2.05% |
| Technology | 13.04% | 0.00% | 33.17% | 7.02% |
| Industrials | 12.83% | 0.00% | 93.12% | 7.31% |
| Consumer Defense | 9.69% | 0.00% | 100.00% | 11.99% |
| Energy | 7.91% | 0.00% | 100.00% | 61.70% |
| Utilities | 5.23% | 0.00% | 100.00% | 12.28% |
| Financial Services | 4.62% | 0.00% | 100.00% | 23.39% |
| Consumer Cyclical | 3.25% | 0.00% | 100.00% | 25.73% |
| Basic Materials | 2.83% | 0.00% | 100.00% | 23.10% |
| Real Estate | 2.66% | 0.00% | 86.71% | 16.08% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | LSHIX % Rank | |
|---|---|---|---|---|
| US | 6.19% | 0.00% | 99.64% | 8.13% |
| Non US | 0.00% | -0.01% | 0.83% | 16.91% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | LSHIX % Rank | |
|---|---|---|---|---|
| Corporate | 80.40% | 0.00% | 100.00% | 91.37% |
| Government | 8.75% | 0.00% | 99.07% | 4.56% |
| Securitized | 5.10% | 0.00% | 97.24% | 8.47% |
| Derivative | 0.00% | -14.19% | 42.26% | 36.75% |
| Cash & Equivalents | 0.00% | 0.00% | 48.02% | 98.05% |
| Municipal | 0.00% | 0.00% | 1.17% | 87.95% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | LSHIX % Rank | |
|---|---|---|---|---|
| US | 89.61% | 0.00% | 126.57% | 73.82% |
| Non US | 0.55% | 0.00% | 96.91% | 36.59% |
LSHIX - Expenses
Operational Fees
| LSHIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.70% | 0.02% | 38.33% | 76.30% |
| Management Fee | 0.58% | 0.00% | 1.75% | 57.37% |
| 12b-1 Fee | 0.00% | 0.00% | 1.00% | 14.75% |
| Administrative Fee | N/A | 0.00% | 0.50% | N/A |
Sales Fees
| LSHIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 2.25% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
| LSHIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 1.00% | 2.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| LSHIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 105.00% | 1.00% | 255.00% | 89.88% |
LSHIX - Distributions
Dividend Yield Analysis
| LSHIX | Category Low | Category High | LSHIX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 5.77% | 0.00% | 11.76% | 47.82% |
Dividend Distribution Analysis
| LSHIX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Annual | Annual | Monthly | Monthly |
Net Income Ratio Analysis
| LSHIX | Category Low | Category High | LSHIX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 4.07% | -2.39% | 9.30% | 67.22% |
Capital Gain Distribution Analysis
| LSHIX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 18, 2023 | $0.342 | OrdinaryDividend |
| Dec 20, 2022 | $0.261 | OrdinaryDividend |
| Dec 20, 2021 | $0.381 | OrdinaryDividend |
| Dec 17, 2020 | $0.315 | OrdinaryDividend |
| Dec 17, 2019 | $0.370 | OrdinaryDividend |
| Dec 17, 2019 | $0.010 | CapitalGainShortTerm |
| Dec 17, 2019 | $0.042 | CapitalGainLongTerm |
| Dec 17, 2018 | $0.002 | CapitalGainShortTerm |
| Dec 17, 2018 | $0.076 | CapitalGainLongTerm |
| Dec 17, 2018 | $0.375 | OrdinaryDividend |
| Dec 18, 2017 | $0.379 | OrdinaryDividend |
| Dec 18, 2017 | $0.004 | CapitalGainShortTerm |
| Dec 18, 2017 | $0.018 | CapitalGainLongTerm |
| Dec 19, 2016 | $0.020 | CapitalGainLongTerm |
| Dec 19, 2016 | $0.378 | OrdinaryDividend |
| Dec 18, 2015 | $0.005 | CapitalGainShortTerm |
| Dec 18, 2015 | $0.215 | CapitalGainLongTerm |
| Dec 18, 2015 | $0.423 | OrdinaryDividend |
| Dec 17, 2014 | $0.055 | CapitalGainShortTerm |
| Dec 17, 2014 | $0.307 | CapitalGainLongTerm |
| Dec 17, 2014 | $0.431 | OrdinaryDividend |
| Dec 17, 2013 | $0.010 | CapitalGainShortTerm |
| Dec 17, 2013 | $0.411 | CapitalGainLongTerm |
| Dec 17, 2013 | $0.516 | OrdinaryDividend |
| Dec 17, 2012 | $0.004 | CapitalGainShortTerm |
| Dec 17, 2012 | $0.030 | CapitalGainLongTerm |
| Dec 17, 2012 | $0.504 | OrdinaryDividend |
| Dec 14, 2011 | $0.012 | CapitalGainShortTerm |
| Dec 14, 2011 | $0.159 | CapitalGainLongTerm |
| Dec 14, 2011 | $0.453 | OrdinaryDividend |
| Dec 09, 2010 | $0.313 | CapitalGainShortTerm |
| Dec 09, 2010 | $0.019 | CapitalGainLongTerm |
| Dec 09, 2010 | $0.592 | OrdinaryDividend |
| Dec 11, 2009 | $0.521 | OrdinaryDividend |
| Dec 11, 2009 | $0.000 | CapitalGainLongTerm |
| Dec 12, 2008 | $0.058 | CapitalGainShortTerm |
| Dec 12, 2008 | $0.034 | CapitalGainLongTerm |
| Dec 12, 2008 | $0.487 | OrdinaryDividend |
| Dec 14, 2007 | $0.010 | CapitalGainShortTerm |
| Dec 14, 2007 | $0.137 | CapitalGainLongTerm |
| Dec 14, 2007 | $0.516 | OrdinaryDividend |
| Dec 15, 2006 | $0.510 | OrdinaryDividend |
| Dec 16, 2005 | $0.532 | OrdinaryDividend |
| Dec 28, 2004 | $0.640 | OrdinaryDividend |
| Dec 29, 2003 | $0.620 | OrdinaryDividend |
| Dec 27, 2002 | $0.183 | OrdinaryDividend |
| Dec 29, 2001 | $0.976 | OrdinaryDividend |
LSHIX - Fund Manager Analysis
Managers
Matthew Eagan
Start Date
Tenure
Tenure Rank
Feb 01, 2007
15.34
15.3%
Matthew J. Eagan is an Executive Vice President and a member of the Board of Directors of Loomis Sayles. Mr. Eagan started his investment career in 1989 and joined Loomis Sayles in 1997. Previously, he worked for Liberty Mutual Insurance Company as a senior fixed-income analyst and for BancBoston Financial Company as a senior credit analyst. Mr. Eagan received his BA from Northeastern University and his MBA from Boston University. He is a CFA® charterholder.
Elaine Stokes
Start Date
Tenure
Tenure Rank
Feb 01, 2007
15.34
15.3%
Elaine M. Stokes is an Executive Vice President and a member of the Board of Directors of Loomis Sayles. She has joined Loomis Sayles in 1988. Prior to becoming a portfolio manager in 2000, she had experience working in high yield, global and emerging markets, serving as a senior fixed-income trader and portfolio specialist. Ms. Stokes is co-head and founder of the Loomis Sayles Women's Network group and is on the executive board for the Strong Women, Strong Girls nonprofit organization. Ms. Stokes earned a BS from St. Michael's College.
Todd Vandam
Start Date
Tenure
Tenure Rank
Feb 01, 2021
1.33
1.3%
Todd Vandam is a Vice President at Loomis, Sayles & Company and co-portfolio manager with the fixed-income high yield and global high yield teams. Mr. Vandam began his career at Loomis Sayles in 1994 on the high yield trading desk. Prior to joining Loomis Sayles in 1994, Mr. Vandam worked as a Field Artillery Officer in the United States Army, most recently working as a Fire Support Officer stationed at Fort Davis, Panama. Mr. Vandam earned a BA in business and economics from Brown University. He is a member of the Boston Security Analysts Society and he is a CFA®charterholder.
Brian Kennedy
Start Date
Tenure
Tenure Rank
Feb 01, 2021
1.33
1.3%
Brian Kennedy is a Vice President of Loomis, Sayles & Company and co-portfolio manager of the firm’s multisector institutional strategies and mutual funds. Mr. Kennedy joined Loomis Sayles in 1994 as a securitized and government bond trader. Mr. Kennedy first joined the full discretion investment team as product manager in 2009, was promoted in 2013 to co-portfolio manager of the investment grade bond products and again in 2016 to co-portfolio manager of the multisector suite of products. He earned a BS from Providence College and an MBA from Babson College.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.13 | 37.79 | 7.3 | 8.17 |
