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Loomis Sayles Capital Income Fund to launch March 30
By Toni Weeks
San Diego, March 28 - The Loomis Sayles Capital Income Fund will launch March 30 with three share classes, according to a 497 filing with the Securities and Exchange Commission.
The ticker symbols for the class A, class C and class Y share classes are LSCAX, LSCCX and LSCYX, respectively.
The fund seeks high total return through a combination of current income and capital appreciation by investing, under normal market conditions, at least 70% of its assets in equity securities, including common stocks, preferred stocks and convertible securities, which may include, among others, warrants, convertible debt securities and convertible preferred stock. A significant majority of the equity securities will be traded on a U.S. exchange and denominated in U.S. dollars.
The fund's non-U.S. equity investments, which will consist generally of American Depositary Receipts but may include direct foreign investments as well, will be limited to 10% of the equity portion. The fund may also invest up to 30% of its assets in fixed-income securities, including junk bonds, corporate debt and government and agency fixed-income securities.
Arthur Barry, Daniel J. Fuss, Kathleen C. Gaffney and Warren N. Koontz are the portfolio managers.
Shareholder fees consist of a 5.75% maximum sales charge for class A shares and a 1% maximum deferred sales charge for class C shares.
Management fees of 0.6% will apply. The fund's investment adviser has contractually agreed to limit the total annual fund operating expenses to 1.2% for class A, 1.95% for class C and 0.95% for class Y shares until March 31, 2013.
Boston-based Loomis, Sayles & Co., LP is the investment adviser.
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