Loomis Sayles to soft close US-based large cap growth strategy

Loomis Sayles has recently announced a soft-close of its large cap growth strategy including the Loomis Sayles Growth Fund effective 1 November 2016.

Offshore and other non-US domiciled funds (Luxembourg-domiciled Ucits Sicavs Loomis Sayles U.S. Growth Equity Fund and Loomis Sayles Global Growth Equity Fund, UK-domiciled Ucits fund Loomis Sayles U.S. Equity Leaders Fund and France-domiciled Ucits fund Natixis Actions US Growth) are not included in this process and remain open to investors.

The company intends to slow the growth in assets of its US based Loomis Sayles Growth fund, managed by Aziz Hamzaogullari.

The Loomis Sayles Growth Fund had $4.2bn (€3.8bn) of AUM as at end of August 2016. It will remain open to existing shareholders, including employee benefit plan sponsors who currently have the fund on their menu of investment options.

Loomis Sayles said the soft close aims to ensure the team’s ability to efficiently manage future cash flow in the best interests of our investors.

“Aziz and his team have consistently produced strong performance for our clients and global investors have reacted accordingly,” commented Kevin Charleston, chief executive officer of Loomis Sayles.

“Ensuring that they retain portfolio management flexibility is in the best interests of our investors and will always be our foremost priority.”

Loomis Sayles is part of Natixis and managed $240bn (€218.3bn) in assets as of 30 June 2016.

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