Loomis, Sayles restructured its mutual fund group and will sell to retail clients only through financial intermediaries effective Jan. 1. The company will outsource direct servicing of retail clients to broker/dealers, financial advisers and mutual fund supermarkets. 401(k) plans using Loomis Sayles only for mutual fund investments also will be serviced through intermediaries. Institutional clients with at least $1 million invested with the company will continue to be serviced by Loomis.
The move will allow Loomis, Sayles to lower expense ratios. The firm also will introduce institutional and retail classes of shares.
