The Loomis Sayles Global Equity Fund (Quoted Managed Fund) are the listed class units and the Loomis Sayles Global Equity Fund are  the unlisted class units. Both classes exist within a single fund and follow the same investment strategy.

The Loomis Sayles Global Equity Fund (Quoted Managed Fund) is an active  exchange-traded fund (Active ETF). Investors can buy and sell shares in the Active ETF through the ASX as they can in any listed company.

The Loomis Sayles Global Equity Fund is an unlisted unit trust. Investors buy and sell units through Investors Mutual as the responsible entity for the Fund.

With an actively-managed ETF like the Loomis Sayles Global Equity Fund (Quoted Managed Fund), the investment manager Loomis Sayles actively selects the underlying companies in which the Fund invests in different proportions to the companies’ weightings in a market index benchmark. 

A passive ETF holds the underlying companies in the same proportion to their weightings in a market index benchmark.

The ‘marketmaker’ provides liquidity for investors during the ASX Trading Day, by providing bids and offers in the market at a tight spread to the indicative Net Asset Value (iNAV).

The Loomis Sayles Global Equity Fund (Quoted Managed Fund) is designed to trade at a price close to its underlying Net Asset Value (NAV). This means that the price an investor pays for units in the quoted class should closely reflect the underlying assets of the Fund.

The iNAV is the indicative or intraday Net Asset Value for the Fund. The iNAV reflects the real-time movements in sharemarkets and currencies during the ASX Trading Day, and for securities not trading during the ASX Trading Day, listed proxy investments (including futures) selected on the basis of correlations with the underlying investments. The iNAV will also account for foreign exchange movements.

The iNAV therefore represents the estimated value of the underlying portfolio of the Fund’s stockholdings. The iNAV is updated in real time (every second) and published throughout the ASX Trading Day.

The market maker uses the iNAV to provide bids and offers.

The bid/offer spread covers the transaction costs a fund incurs when buying and selling assets, such as brokerage, government taxes, and bank charges. These spreads are applied around the iNAV through the ASX Trading Day.

We will be showing the end of day NAV (net asset value), which is broadly equivalent to the unit price for the unlisted version of the Fund.

We will also be publishing the listed vehicle’s iNAV (an indicative NAV calculated by a third party which represents an approximate NAV based on a number of factors while the market is open).

The Loomis Sayles Global Equity Fund (Quoted Managed Fund) discloses its underlying stockholdings quarterly. The top 10 holdings are displayed on the ASX and on this website.

The listed and unlisted versions of the Loomis Sayles Global Equity Fund are unhedged. The investment manager believes that it does not possess any advantage in predicting currency movements, and believes that its investment success is determined by its fundamental stock research.

The investment manager’s analysis has also shown that although currency movements can affect the value of the investment portfolio over shorter time periods, over longer periods, currency movements ‘wash out’.

To move your investment from the unlisted to the listed version of the Loomis Sayles Global Equity Fund, submit a Switch Form by 4:00pm on a Business Day in Sydney. This day is designated ‘T’, the day of your transaction.

The following day (T+1), your holding in the unlisted version of the Fund will be redeemed at the NAV price for the listed version of the Fund applicable on the day of your transaction (T).

On the same day, your application into the listed version of the Fund will be processed at the NAV price applicable on the day of your transaction (T).

You will be notified (by postal mail) about your acquisition of shares in the listed version of the Fund within 3 days of your application to switch your investment from the unlisted to the listed version of the Fund being processed.

Switching between the unlisted and listed versions of the Loomis Sayles Global Equity Fund may trigger a Capital Gains Tax (CGT) scenario, so before making any decision to switch, you should consult your tax adviser about any potential CGT consequences.