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November 17, 2003 at 07:00 PM
Nov 13, 2003 — Loomis Sayles & Co. said it accepted two investments in Loomis Sayles Bond/Instl (LSBDX) that “might lead to increased trading activity.”
In a letter to shareholders dated November 11, the company’s chairman and chief executive officer Robert Blanding indicated that one of the investors was an institutional client “who used the fund to manage their liquidity.” The other investor “was associated with a party recently named in a regulatory investigation.”
Blanding also said that prior to accepting the investments, Loomis concluded that the proposed activity would not harm fund shareholders, given the size of the investments relative to the fund. He added that the company did not believe shareholders were harmed.
