Apostle Loomis Sayles attracts fund flows
Apostle Asset Management has this week announced new mandates which have increased fund flows into the Apostle Loomis Sayles Credit Opportunities Fund and the Apostle Loomis Sayles Senior Loan Fund over recent weeks.
Discussing the flows into the specialist bank loan products, Apostle managing director Karyn West said they reflected the attractive features of loans which suit the current market conditions.
"The product is designed for a total return and offers diversification to broader fixed income asset classes as well as an inflation hedge," she said.
Loomis Sayles portfolio manager Kevin Perry said that in an environment of global economic uncertainty and persistently low interest rates, bank loans' dual protection of principal and interest might prove to be uniquely suited to the prevailing market conditions.
Loomis has flagged it intends to launch a structured loans product (CLO) which has a minimum two-year lock-up, with attractive target returns and low volatility.
According to Loomis, it may prove attractive to investors who can manage low liquidity and may offer a significant yield advantage compared to investing in straight bank loans.
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