Fuss says Loomis Sayles Bond Fund has high exposure to short-term reserves

June 7, 2017 3:15 pm
Want create site? Find Free WordPress Themes and plugins.

By Jennifer Ablan
| NEW YORK

NEW YORK Loomis Sayles Vice Chairman Dan Fuss said his popular Loomis Sayles Bond Fund (LSBDX), which has outperformed 92 percent of its peer category over the last 15 years, has amassed one of its highest exposures to short-term reserves, which include U.S. and Canadian government bonds, as the rate-hiking cycle continues.

“I am the most cautious I’ve been in the history of the bond fund,” which was launched in 1991, Fuss said on Wednesday. “I am cautious about interest rates rising,” added Fuss, who is known as the Warren Buffett of bonds.

Investors see a high likelihood of a rate hike when the policy-setting Federal Open Market Committee meets June 13-14.

Fuss said the average maturity holdings of the fund of 6.5 years, down from 13 years, is taking a “very defensive” approach to investing, given the trajectory of higher interest rates.

(Reporting by Jennifer Ablan; Editing by Phil Berlowitz and Chizu Nomiyama)

Reuters

Did you find apk for android? You can find new Free Android Games and apps.

HEADLINES

Americans are saving (a little) more Americans pocket extra gas money Americans are notoriously terrible savers. But the good news is, they're getting better. The percent...
Could there be a bidding war for Whole Foods? Why Amazon is buying Whole Foods Whole Foods will eventually be part of Amazon CEO Jeff Bezos's empire. Or will it? Some Wall Street ...
U.S. court puts hold on ‘too big to failR... A MetLife Inc building is shown in Irvine, California, U.S., January 24, 2017...
Four ways retirement saving is about to change Retirees play poker at a singles club in Sun City, Arizona, January 4, 2013. ...
Are high profits here to stay? Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U...
Bank of America’s wealth revenue surges on a... By Elizabeth Dilts | NEW YORK NEW YORK Bank of America's wealth business reported revenue climbed 3 percent to $4.6 billion in th...
Where did a chunk of my paycheck go? Here's why we get overtime pay Do you know why money gets taken out of your paycheck? If you don't, you're not alone. Nearl...
U.S.-based stock funds attract most cash in five w... Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U...
s2Member®