Morningstar Report 2-9-10
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Rating and Risk
Loomis Sayles Bond Instl  LSBDX
 Morningstar Rating (Relative to Category)01-31-10 
 Morningstar ReturnMorningstar RiskMorningstar RatingTM
3-YearAverageAbove Average3 stars
5-YearAbove AverageAbove Average4 stars
10-YearHighAbove Average5 stars
OverallAbove AverageAbove Average4 stars
Morningstar Category: Multisector BondClick here to see our Methodology
 Volatility Measurements Trailing 3-Yr through 01-31-10 | *Trailing 5-Yr through 01-31-10 
Standard Deviation14.59 Sharpe Ratio0.31
Mean6.48 Bear Market Decile Rank*10
 Modern Portfolio Theory StatisticsTrailing 3-Yr through 01-31-10 
 Standard Index
BarCap US Agg Bond TR USD		Best Fit Index
ML Convertible Bonds All Qualities
R-Squared3483
Beta2.000.83
Alpha-4.524.29
Total Returns
Loomis Sayles Bond Instl  LSBDX
 Growth of $10,00001-31-10 
Fund: Loomis Sayles Bond InstlCategory: Multisector BondIndex: BarCap US Agg Bond TR USD
 
 Performance History01-31-10 
 200320042005200620072008200901-10
Total Return %29.211.34.311.38.5-21.837.21.1
+/- Index25.17.01.97.01.6-27.131.3-0.5
+/- Category13.02.92.24.44.1-6.48.0-0.2
% Rank in Category781128851462
Fund CategoryMUMUMUMUMUMUMUMU
See fund category codes
         
 Trailing Total Returnsthrough 02-09-10 
 Total Return %+/- BarCap US Agg Bond TR USD+/- BarCap US Universal TR USD% Rank in Cat
1-Day0.150.340.3387
1-Week-0.89-0.88-0.8082
1-Month-1.54-2.48-2.2985
3-Month3.151.901.7119
Year-to-date0.60-0.87-0.7862
1-Year34.8126.1023.8614
3-Year Annualized5.11-1.34-1.0238
5-Year Annualized6.371.381.368
10-Yr Annualized8.852.362.278
     
 Historical Quarterly Returns 
Q1Q2Q3Q4
2009-0.0817.2112.354.27
2008-1.770.44-13.00-8.92
20071.991.863.231.20
20062.570.534.972.82
2005-0.952.431.990.78
20042.30-3.536.695.71
20036.8211.091.936.80
Investor Returns
Loomis Sayles Bond Instl  LSBDX
What are Investor Returns?
Morningstar investor returns (also known as dollar-weighted returns) measure how the typical investor in a fund fared over various time periods, incorporating the impact of cash inflows and outflows from all investors' purchases and sales. If investors bought a fund after it had posted big gains and sold at a low ebb, investor returns will be lower than the fund's total returns. If investors bought and sold at more opportune times, however, investor returns will be higher than the fund's total returns. (For more details, please click here.)
 Performance History
 2002200320042005200620072008
Investor Return %11.226.59.22.89.76.7-24.7
Total Return %13.329.211.34.311.38.5-21.8
+/- Category *5.89.61.71.43.54.2-6.0
% Rank in Category *10919144985
        
 Investor Returns vs Total Returnsthrough 01-31-10 
 Investor Return %Total Return %Investor Return
% Rank in Category
1-Year34.7736.7110
3-Year Annualized4.185.5631
5-Year Annualized4.796.5516
10-Yr Annualized5.829.0915
 
*Data refers to Investor Returns
Tax Analysis
Loomis Sayles Bond Instl  LSBDX
 Tax Analysis01-31-10 
 3-Yr Avg %5-Yr Avg %10-Yr Avg %
Pretax Return5.566.559.09
Tax-adjusted Return2.914.106.34
% Rank in Category37128
Tax Cost Ratio2.512.292.52
    
Potential Cap Gains Exposure %-2.4
Sec Filing
Loomis Sayles Bond Instl  LSBDX
Portfolio
Loomis Sayles Bond Instl  LSBDX
 Style Box Details11-30-09  
Average Eff Duration6.30 Yrs
Average Eff Maturity10.81 Yrs
Average Credit QualityBBB
 
Investment Style History (as of 12-31)
2009
2008
2007
  
 
 
 Asset Allocation11-30-09 
 % Long% Short% Net Assets
Cash4.20.04.2
Stocks0.60.00.6
Bonds84.30.084.3
Other10.80.010.8
Foreign Stocks0.00.00.0
(as a % of assets)
 Bond Quality11-30-09  
% of Bond % of Bond
AAA21.5 BB10.1
AA5.2 B7.7
A10.8 Below B11.7
BBB31.1 Not Rated2.0
 Sector Weightings 11-30-09 
 % of BondsRel to Cat Avg
US Government
US Treasuries0.240.07
TIPS0.000.00
US Agency0.000.00
Mortgage
Mortgage Pass-Thru0.000.00
Mortgage CMO0.000.00
Mortgage ARM0.00 0.00
Credit
US Corporate58.341.46
Asset-Backed3.431.69
Convertible7.356.23
Municipal1.811.16
Corporate Inflation-Protected0.00 0.00
Foreign
Foreign Corp7.640.88
Foreign Govt21.182.70
Cash------
Holdings
Loomis Sayles Bond Instl  LSBDX
 Top 25 Holdings    Get Price Quotes11-30-09 
Number of Bond Holdings (Long)591 Annual Turnover %39
Number of Stock Holdings (Long)7 Yield %5.83
Number of Stock Holdings (Short)--- % Assets in Top 10 Holdings19.04
Number of Bond Holdings (Short)---
     
Top 25 HoldingsMaturity DateAmount 000Value $000% Net Assets
Canada Govt 2%09/01/2012575,325551,3123.00
Canada Govt 5.25%06/01/2012431,800447,4132.43
Canada Govt 3.75%06/01/2012412,215412,7582.24
Canada Govt 1%09/01/2011421,197399,5982.17
Intel 144A Cv08/01/2039343,275379,7482.06
Canada Govt 4.25%06/01/2018297,760307,2171.67
Medco Health Solutions 7.125%03/15/2018245,695284,3361.54
Intl Paper 7.95%06/15/2018216,710250,8791.36
Canada Govt 3.75%06/01/2019246,645243,8381.32
Nabors Inds 144A01/15/2019184,360229,6281.25
Amer Gen Fin Medtm Srnt Be 6.9%12/15/2017322,970226,7081.23
Mexico (United Mexican States) 8%12/07/20232,858,570216,0631.17
Comcast 6.95%08/15/2037192,208213,3431.16
Wellpoint 6.375%06/15/2037191,190200,7871.09
Ford Mtr Co Del Cv 4.25%11/15/2016176,290200,7501.09
General Elec Cap Corpn 6.5%09/28/2015266,643186,5991.01
Western Un 6.2%11/17/2036154,180159,7410.87
Ford Motor Credit Co 8.7%10/01/2014152,395156,5700.85
Inter Amer Dev Bk 6%12/15/2017185,840133,2500.72
Canada Govt 3.5%06/01/2013132,245132,0380.72
Ngpl Pipeco 7.119%12/15/2017116,405131,3180.71
Slm06/15/2018140,870127,2470.69
Tobacco Settlement Fing Corp V As 6.706%06/01/2046178,970125,7660.68
Norway(Kingdom Of) 4.25%05/19/2017668,075121,7960.66
Citibank Ccit 2008-C6 6.3%06/20/2014113,710117,0570.64
Portfolio Holdings as of 11-30-09
Top 25 holdings account for the fund's short positions (if any), which appear shaded.
Management
Loomis Sayles Bond Instl  LSBDX
 Management
Manager NameDaniel J. Fuss
Manager Start Date05-16-91
Biography
Dan Fuss, CFA, CIC: began investment career in 1958; joined Loomis Sayles in 1976; has managed the Fund since inception; MBA, Marquette University.
Manager NameKathleen C. Gaffney
Manager Start Date10-01-97
Biography
Ms. Gaffney is a Vice President and Portfolio Manager of Loomis Sayles and joined Loomis Sayles in 1984. She manages or co-manages a number of Loomis Sayles fixed income funds. She joined Loomis Sayles in 1984 and began investment career, from 1992 - Present , she is the Vice President, Fixed Income Portfolio Manager; from 1988 - 1992 she held Vice President, Fixed Income Trader position. From 1984 - 1988 she was Fixed Income and Equity Trader in Boston. Ms. Gaffney holds the designation of Chartered Financial Analyst. She received a B.A. from the University of Massachusetts at Amherst and has over 24 years of investment experience. Loomis Sayles combines fundamental research, systematic risk assessment and experienced portfolio management in actively managing its fixed income and equity client accounts.
Manager NameMatthew J Eagan
Manager Start Date02-01-07
Biography
Matthew J. Eagan, CFA Vice President Fixed Income Portfolio Manager Work Experience: Year joined Loomis Sayles: 1997 Year began investment career: 1990 Work History: Loomis, Sayles & Company, L.P. 1997-2000 Fixed Income Research Analyst Liberty Mutual Insurance Company 1992-1997 Fixed Income Research BancBoston Financial Company 1990-1992 Research Century Bank & Trust Company 1989-1990 Research
Manager NameElaine M. Stokes
Manager Start Date02-01-07
Biography
Stokes is vice president and portfolio manager of Loomis Sayles, began her investment career in 1987 and joined Loomis Sayles in 1988. Stokes holds the Chartered Financial Analyst designation.
 
Fund Inception05-16-91
Fund Advisor(s)
Loomis Sayles & Co.
Fund Subadvisor(s)
Fees & Expenses
Loomis Sayles Bond Instl  LSBDX
 Fees and Expenses02-01-10 
Maximum Sales Fees %
Initial None
Deferred None
  
Redemption Fees % None
  
Maximum Fees %
Administrative 0.00
Management0.60
  
Total Cost ProjectionsCost per $10,000
3-Year $208
5-Year $362
10-Year $810
  
 
Actual Fees %
12b-10.00
Management0.52
Net Expense Ratio: Annual Report 0.65
(As of 09-30-09)
Net Expense Ratio: Prospectus 0.65
   
Expense Waivers:
Disclosure: Loomis Sayles has given a binding undertaking to limit the amount of the Fund's total annual fund operating expenses, exclusive of Acquired Fund Fees and Expenses, brokerage expenses, interest expense, taxes and organizational and extraordinary expenses, to 0.7%, 0.95% and 1.25% of the Fund's average daily net assets for Institutional shares, Retail shares and Admin shares, respectively. This undertaking is in effect through January 31, 2009 and is reevaluated on an annual basis.
   
Purchase Info
Loomis Sayles Bond Instl  LSBDX
 Purchase Information  
Minimum InvestmentsBrokerage Availability
Initial $100000
Additional $50
Initial IRA $100000
Additional IRA $50
Initial AIP ---
Additional AIP ---
Address

399 Boylston Street
12th Floor
Boston,  MA  02116
USA

800-633-3330
http://www.loomissayles.com

 
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Analyst Report Archive
Loomis Sayles Bond Instl  LSBDX
 Analyst Report Archive 
DateAnalyst Report Analyst
11-12-09This Analyst Pick's recent gains aren't for chasing. Miriam Sjoblom
05-21-09This Analyst Pick won't shield you from the market's jolts; it's one for the long haul. Miriam Sjoblom
12-30-08Be patient. Miriam Sjoblom
10-27-08For this bold mutual fund, a turnaround is more a question of when than if. Miriam Sjoblom
07-29-08There are tradeoffs to investing in this mutual fund, but it's an easy pick for long-term investors. Paul Herbert, CFA
02-23-08This mutual fund has survived one battle, and it's preparing for the next. Paul Herbert, CFA
12-21-07Another year, another Fund Manager of the Year nomination for Dan Fuss and crew. Paul Herbert, CFA
04-27-07Mind this mutual fund's risks, but don't let them blind you to its virtues. Paul Herbert, CFA
11-21-06Don't try this at home. Paul Herbert, CFA
06-26-06We like this far-reaching mutual fund's chances of success. Paul Herbert, CFA
02-13-06This mutual fund continues to show its independent-mindedness. Paul Herbert, CFA
12-27-05This mutual fund continues to be a class act. Paul Herbert, CFA
04-15-05Though unusual, Loomis Sayles Bond Fund remains one of our favorite choices. Paul Herbert, CFA
11-16-04Going its own way has once again given this fund an edge. Paul Herbert, CFA
06-16-04This fund's added risk has been on display recently, but we continue to find it an appealing holding. Paul Herbert, CFA
01-10-04This fund remains a strong option. Paul Herbert, CFA
12-11-03Investors with an eye on the long haul will find much to like here. Paul Herbert, CFA
08-06-03This is an excellent option for those with a long enough time horizon. Bradley Sweeney
06-11-03Loomis Sayles Bond Fund is an impressive option for adventuresome investors. Bradley Sweeney
03-13-03Loomis Sayles Bond Fund is an impressive option for adventuresome investors. Bradley Sweeney
01-02-03This offering managed to succeed in an environment that wasn't kind to most who took credit risks. Bradley Sweeney
10-15-02Its lone-wolf style is again helping it zig when others zag. Eric Jacobson
08-15-02If you've got the time, they've got the fund. Eric Jacobson
05-17-02You've got to take the long view here. Eric Jacobson
12-12-01It would be surprising to see Loomis Sayles Bond's current slump last much longer. Eric Jacobson
06-11-01Loomis Sayles Bond Fund's nose for value usually pays off. Scott Berry, CFA
12-18-00Loomis Sayles Bond Fund's nose for value usually pays off--but not in 2000. Chris Kelsch
02-28-00Loomis Sayles Bond Fund's latest move is good news for investors. Sarah C. Bush
05-05-99Loomis Sayles Bond Fund is back in the saddle again. Sarah C. Bush
12-07-98Loomis Sayles Bond Fund has stayed true to form, even though its returns haven't. Maciej Kowara
07-08-98Like a magician, Loomis Sayles Bond Fund seems to play with fire without getting burnt. Maciej Kowara
01-23-98Loomis Sayles Bond Fund's record results from its cheapness and its foresight. Maciej Kowara
08-29-97Loomis Sayles Bond Fund has had more than luck on its side. Todd Porter
04-11-97Loomis Sayles Bond Fund has taken on a lot of risks that haven't been realized. Mark Wright
11-22-96Rising prices are the bane of Loomis Sayles Bond Fund's existence. Mark Wright
06-21-96Loomis Sayles Bond Fund has done it again! Mark Wright
02-02-96Loomis Sayles Bond Fund has a style all its own. Mark Wright
09-15-95Loomis Sayles Bond Fund is one of a kind. Mark Wright
04-28-95 Kathleen Hartman
12-09-94 Kathleen Hartman
08-05-94Loomis Sayles Bond Fund has taken the road less traveled to the stars. That this fund recently earned 5 stars on its third birthday probably came as no surprise to shareholders who'd enjoyed returns nearly 3.5 times the bond fund average with no extra downside risk. Manager Daniel Fuss' bargain- shopping produced a discount-priced portfolio that soared to first place as rates fell in both 1992 and 1993. Even though rates have risen this year, the fund has kept up surprisingly well. Its discount-coupon focus seems to produce a long duration of more than nine years on paper, but the fund's returns have hovered near the corporate-general norm so far this year. Laura Lallos
05-27-94Where others find only bears, Loomis Sayles Bond Fund sees a raging bull. Laura Lallos
01-01-94After burning the competition for two years in a row, Loomis Sayles Bond Fund might want to change its name to Fire Sales Bond Fund. Angela Tenga
08-20-93Lower-tier credit picks have turned into top- decile gains for Loomis Sayles Bond Fund. Jeff Kelly
04-02-93Loomis Sayles Bond Fund's asset mix is a bit out of the ordinary. Jeff Kelly
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Italics indicate Extended Performance. Extended performance is an estimate based on the performance of the fund's oldest share class, adjusted for fees.