Dan Fuss, vice chairman and executive vice president of Loomis, Sayles & Co., will take a "significant" step back from portfolio management, confirmed company spokeswoman Orla O'Brien in an email.
Effective March 1, Mr. Fuss will no longer serve as a co-portfolio manager on any of Loomis Sayles' mutual or offshore funds. He will continue to serve as a member of the full discretion team in a senior advisory role and remain vice chairman, executive vice president and a member of Loomis Sayles' board.
This is the latest phase of a 20-year succession plan that Loomis Sayles has had in place for the $65 billion full discretion team. March 1 will mark Mr. Fuss' 45th year at the firm.
Matthew J. Eagan, Brian P. Kennedy and Elaine M. Stokes will remain portfolio managers of Loomis Sayles' strategic income, bond, fixed income and investment-grade fixed income funds, while Mr. Eagan and Ms. Stokes will continue to serve as portfolio managers of the institutional high income fund, documents filed with the Securities and Exchange Commission show.
Eileen N. Riley, David W. Rolley and Lee M. Rosenbaum will remain portfolio managers of Loomis Sayles Global Allocation fund.
Mr. Eagan will also join the global allocation fund's portfolio management team as of March 1.