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Dear Maurice: I would continue to hold this fund. Although Kathleen Gaffney was an excellent fixed-income manager, I'm sure Dan Fuss and the rest of Loomis Sayles fixed-income managers will get along just fine without her Regards, Ted
I've decided to move on from LSBRX, just like Gaffney and very soon to be, Fuss himself. It's been a great fund, but I've moved my money to PONDX. PONDX has outperformed LSBRX substantualy the last 4 out of 5 years. With Kathleen moving on, and Dan soon to retire and PONDX shining like a star, well I made my decision not to "hope" LSBRX carries on.
I guess Fuss can't retire for a few more years now! I've held the Bond Fund for a long time and done very well by them in my IRA. The big swings in the NAV of the fund have tracked the overall bond market with lots of added "alpha". Currently bind prices are sky-high, so watch out. I'd buy more next year if there is a correction, but not now.
While Gaffney was heir apparent, Loomis Sayles added significant management support five years ago. So I agree with Ted, that at least so long as Dan is there, wait and see (and not make a fuss?).
With respect to PIMCO Income Fund, I might look at PIMIX, that appears to be available at Scottrade ($17 TF - the lower ER more than makes up for this over time if you're investing any significant amount).
But if Gaffney leaving is your reason for making a change, you might wait for her to start her multisector fund over at Eaton Vance. EV funds, though load funds, are NTF (OneSource) at Schwab.
We have not made any changes. LSBDX is a core hold in many client accounts. It is a unique fund in the way it has been run for 20+ years. Ms. Gaffney's leaving does not make us question Loomis, but it does cause us to look more closely at her new chanrge Eaton Vance Strategic Income ESIIX. We had a small position in it prior to her arrival at EV.
Comments
Regards,
Ted
With respect to PIMCO Income Fund, I might look at PIMIX, that appears to be available at Scottrade ($17 TF - the lower ER more than makes up for this over time if you're investing any significant amount).
But if Gaffney leaving is your reason for making a change, you might wait for her to start her multisector fund over at Eaton Vance. EV funds, though load funds, are NTF (OneSource) at Schwab.