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Trending ETFs

Name

As of 03/27/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$8.51

$39.3 M

8.93%

$0.76

1.14%

Vitals

YTD Return

-0.4%

1 yr return

5.9%

3 Yr Avg Return

-3.6%

5 Yr Avg Return

-0.4%

Net Assets

$39.3 M

Holdings in Top 10

25.6%

52 WEEK LOW AND HIGH

$8.5
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.14%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 37.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$100,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 03/27/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$8.51

$39.3 M

8.93%

$0.76

1.14%

MGGYX - Profile

Distributions

  • YTD Total Return -0.4%
  • 3 Yr Annualized Total Return -3.6%
  • 5 Yr Annualized Total Return -0.4%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 0.63%
DIVIDENDS
  • Dividend Yield 8.9%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    Mirova Global Green Bond Fund
  • Fund Family Name
    Natixis Loomis Sayles Funds
  • Inception Date
    Feb 28, 2017
  • Shares Outstanding
    N/A
  • Share Class
    Y
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Marc Briand

Fund Description

Under normal circumstances, the Fund invests at least 80% of its net assets (plus any borrowings made for investment purposes) in “green bonds.” “Green bonds” are bonds and notes all of the proceeds of which are used to finance projects which the Adviser believes will have a positive environmental impact. The Fund invests in securities of issuers located in no fewer than three countries, which may include the U.S. Under normal circumstances, the Fund will invest at least 40% of its assets in securities of issuers located outside the U.S. and the Fund may invest up to 20% of its assets in securities of issuers located in emerging markets. The Adviser considers an issuer to be located outside the U.S. if its head office is located outside the U.S. Emerging markets are economies that the Adviser believes are not generally recognized to be fully developed markets, as measured by gross national income, financial market infrastructure, market capitalization and/or other factors. The Fund may invest up to 20% of its assets, at the time of purchase, in securities rated below investment grade (i.e., none of the three major ratings agencies (Moody’s Investors Services, Inc., Fitch Investor Services, Inc. or S&P Global Ratings) have rated the securities in one of their top four ratings categories) (commonly known as “junk bonds”), or, if unrated, securities determined by the Adviser to be of comparable quality. The Fund may invest in bonds of any maturity and expects that under normal circumstances the modified duration of its portfolio will range between 0 and 10. This flexibility is intended to allow the portfolio managers to reposition the Fund to take advantage of significant interest rate movements. Performance is expected to derive primarily from security selection and duration is not expected to be a major source of excess return relative to the benchmark.
The Fund primarily invests in fixed-income securities issued by companies, banks, supranational entities, development banks, agencies, regions and governments. In deciding which securities to buy and sell, the Adviser selects securities based on their financial valuation profile and an analysis of the global environmental, social and governance (“ESG”) impact of the issuer or the projects funded with the securities. Following the evaluation of a security, the portfolio managers value the security based, among other factors, on what they believe is a fair spread for the issue relative to comparable government securities, as well as historical and expected default and recovery rates. The portfolio managers will re-evaluate and possibly sell a security if there is a deterioration of its ESG quality and/or financial rating, among other reasons.
Green bonds are usually issued to finance specific projects intended to generate an environmental benefit while offering potential market return in the same manner as other “conventional” fixed income securities. Beyond fundamental security analysis, the Adviser independently analyzes each green bond it selects for the Fund along the following lines:
Use of Proceeds: legal documentation specifies that proceeds will be used to finance or refinance projects with a positive environmental impact, such as projects relating to climate change, preservation of resources, pollution prevention or mitigation and biodiversity. 
Impact on Sustainable Opportunity: quality of the environmental impact of the project is analyzed. Four evaluation levels have been defined with respect to the positive environmental impact: High, Significant, Low or No, and Negative. Only issues that the Adviser believes will have a High or Significant positive environmental impact can qualify. 
Risk Evaluation: an analysis of the general practices of the issuer and of the management of the environmental and social risks during the life cycle of the projects. 
Reporting: issuer should provide regular reports on the use of proceeds. This reporting will also be used to reevaluate all other aspects of the Adviser’s analysis as described above. 
The Adviser monitors developments in the global green bond market and may revise the above criteria in the future. 
In connection with its principal investment strategies, the Fund may also invest in securities issued pursuant to Rule 144A under the Securities Act of 1933 (“Rule 144A securities”), municipal securities, mortgage-related and asset-backed securities, debt-linked and equity-linked securities, hybrid instruments and futures, forwards and foreign currency transactions for hedging and investment purposes. Except as provided above or as required by applicable law, the Fund is not limited in the percentage of its assets that it may invest in these instruments. The Adviser generally attempts to hedge the Fund’s foreign currency risk, though there is no guarantee its attempts to hedge all foreign currency risk will be successful. 
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MGGYX - Performance

Return Ranking - Trailing

Period MGGYX Return Category Return Low Category Return High Rank in Category (%)
YTD -0.4% -15.2% -2.4% 84.62%
1 Yr 5.9% -10.4% -2.5% 93.89%
3 Yr -3.6%* -1.2% 4.2% 53.39%
5 Yr -0.4%* -0.1% 3.7% 47.42%
10 Yr N/A* 0.0% 4.6% N/A

* Annualized

Return Ranking - Calendar

Period MGGYX Return Category Return Low Category Return High Rank in Category (%)
2023 6.4% -9.4% -0.6% 76.61%
2022 -21.0% -1.3% 7.0% 46.02%
2021 -5.8% 0.5% 200.9% 19.27%
2020 4.0% -15.5% 3.1% 24.00%
2019 6.7% -0.6% 30.6% N/A

Total Return Ranking - Trailing

Period MGGYX Return Category Return Low Category Return High Rank in Category (%)
YTD -0.4% -15.2% -2.4% 83.85%
1 Yr 5.9% -12.6% -2.5% 84.73%
3 Yr -3.6%* -1.6% 4.2% 47.46%
5 Yr -0.4%* -0.1% 3.7% 44.33%
10 Yr N/A* 0.0% 4.6% N/A

* Annualized

Total Return Ranking - Calendar

Period MGGYX Return Category Return Low Category Return High Rank in Category (%)
2023 8.7% -9.4% -0.6% 76.61%
2022 -16.4% -1.3% 7.0% 46.02%
2021 -2.7% 0.5% 200.9% 19.27%
2020 6.0% -15.5% 3.3% 5.00%
2019 9.4% 0.1% 30.6% N/A

NAV & Total Return History


MGGYX - Holdings

Concentration Analysis

MGGYX Category Low Category High MGGYX % Rank
Net Assets 39.3 M 21.8 M 93.5 B 87.79%
Number of Holdings 88 5 7040 98.48%
Net Assets in Top 10 10.1 M -839 M 6.06 B 62.12%
Weighting of Top 10 25.64% 6.1% 100.0% 28.79%

Top 10 Holdings

  1. European Investment Bank 6.03%
  2. Bundesrepublik Deutschland Bundesanleihe 3.62%
  3. United Kingdom Gilt 3.30%
  4. Bundesrepublik Deutschland Bundesanleihe 2.49%
  5. Mexico Government International Bond 2.10%
  6. Verizon Communications Inc 1.73%
  7. Spain Government Bond 1.69%
  8. de Volksbank NV 1.59%
  9. Wabtec Transportation Netherlands BV 1.55%
  10. Anglian Water Services Financing PLC 1.54%

Asset Allocation

Weighting Return Low Return High MGGYX % Rank
Bonds
91.83% 36.86% 100.73% 59.09%
Cash
7.40% -2.75% 67.17% 38.64%
Convertible Bonds
4.00% 0.00% 14.16% 50.00%
Other
0.77% -8.93% 0.72% 37.88%
Stocks
0.00% 0.00% 0.70% 59.09%
Preferred Stocks
0.00% 0.00% 0.73% 53.79%

Bond Sector Breakdown

Weighting Return Low Return High MGGYX % Rank
Corporate
50.62% 0.00% 70.79% 21.97%
Government
42.50% 1.71% 97.31% 34.09%
Cash & Equivalents
0.00% 0.00% 51.02% 12.12%
Securitized
0.00% 0.00% 29.11% 94.70%
Municipal
0.00% 0.00% 3.10% 62.12%
Derivative
-0.21% 0.00% 50.79% 81.06%

Bond Geographic Breakdown

Weighting Return Low Return High MGGYX % Rank
Non US
74.44% 26.05% 98.85% 25.00%
US
17.38% -11.86% 53.57% 70.45%

MGGYX - Expenses

Operational Fees

MGGYX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.14% 0.02% 1.81% 51.56%
Management Fee 0.50% 0.00% 0.83% 52.27%
12b-1 Fee 0.00% 0.00% 1.00% 5.77%
Administrative Fee N/A 0.01% 0.45% N/A

Sales Fees

MGGYX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.25% 4.75% N/A
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

MGGYX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A N/A N/A N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

MGGYX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 37.00% 2.00% 402.00% 35.14%

MGGYX - Distributions

Dividend Yield Analysis

MGGYX Category Low Category High MGGYX % Rank
Dividend Yield 8.93% 0.00% 2.20% 65.15%

Dividend Distribution Analysis

MGGYX Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Annually Monthly Monthly

Net Income Ratio Analysis

MGGYX Category Low Category High MGGYX % Rank
Net Income Ratio 0.63% -0.30% 3.10% 84.73%

Capital Gain Distribution Analysis

MGGYX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

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MGGYX - Fund Manager Analysis

Managers

Marc Briand


Start Date

Tenure

Tenure Rank

Feb 28, 2017

5.25

5.3%

Marc Briand — Marc Briand has served as portfolio manager of the Mirova Global Green Bond Fund since its inception in 2017. Mr. Briand is a portfolio manager with Mirova, which he joined in 2013 as head of Fixed Income. Prior to joining Mirova, he was responsible for aggregate strategy management at Ostrum Asset Management (“Ostrum AM”) from 2007 to 2013. Marc Briand has been involved in ESG strategies since 2008 and Green Bond investments since 2012. He has held various portfolio management and team leader positions at Caisse des Dépots et Consignations, CDC Gestion. Mr. Briand is a graduate of the French business school Institut Supérieur de Gestion in Paris and has over 32 years of investment experience

Charles Portier


Start Date

Tenure

Tenure Rank

Oct 15, 2018

3.63

3.6%

Bertrand Rocher


Start Date

Tenure

Tenure Rank

Sep 01, 2020

1.75

1.8%

Bertrand Rocher is Portfolio Manager/Senior Credit Analyst with Mirova which he joined in 2018. Prior to joining Mirova, Mr. Rocher was Cyclical and High Yield sector analyst at Ostrum AM from 2010 to 2018. Mr. Rocher graduated from the SKEMA Business School and holds a master's degree in Finance from The Paris Institute of Political Studies.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.12 31.42 5.43 0.92