Fund Evaluator:

1290 Loomis Sayles Multi-Asset Income I Overview

1290 Loomis Sayles Multi-Asset Income I (TNVDX) is an actively managed Allocation Moderately Conservative Allocation fund. 1290 Funds launched the fund in 2016.

The investment seeks to provide income and total return through principally investing in income generating securities and investments. The fund normally invests in a diversified range of income -generating equity and fixed income securities of issuers and other financial instruments, including derivatives, which provide investment exposure to such securities. Its equity allocation will typically range from 25% to 70% of the fund’s net assets, and its fixed income allocation will typically range from 20% to 75% of its net assets, although the fund may invest up to 100% of its total assets in either equity or fixed income securities.

About 1290 Loomis Sayles Multi-Asset Income I (TNVDX)

There are 7 members of the management team with an average tenure of 3.28 years: Kenneth Kozlowski (2016), Xavier Poutas (2026), Elaine Kan (2022), Miao Hu (2026), Kevin McCarthy (2026), Vivek Garg (2022), Kevin Kearns (2022). Management tenure is more important for actively managed funds than passive index funds.

The fund has 2 primary benchmarks: Bloomberg US Agg Bond TR USD index with a weighting of 100% and MSCI World High Dividend Yield NR USD index with a weighting of 100%. 1290 Loomis Sayles Multi-Asset Income I has 706 securities in its portfolio. The top 10 holdings constitute 18.3% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.

1290 Loomis Sayles Multi-Asset Income I is part of the Allocation global asset class and is within the Allocation fund group. 1290 Loomis Sayles Multi-Asset Income I has 29.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 32.5%. There is 15.4% allocated to foreign stock, and 1.6% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 41.3% (27.8% domestic bond, 13.6% foreign bond and 7.7% convertible bond). 1290 Loomis Sayles Multi-Asset Income I has 1.5% of the portfolio in cash.

Assets Under Management

The fund has $90 million in total assets, which is below the $561 million average for the Moderately Conservative Allocation category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.

TNVDX Performance and Fees

The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The 1290 Loomis Sayles Multi-Asset Income I expense ratio is high compared to funds in the Moderately Conservative Allocation category. 1290 Loomis Sayles Multi-Asset Income I has an expense ratio of 0.80%, which is 21% lower than its category average, making the fund expense ratio grade a C. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.

High portfolio turnover can translate to higher expenses and lower aftertax returns. 1290 Loomis Sayles Multi-Asset Income I has a portfolio turnover rate of 191%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 43% for the Moderately Conservative Allocation category.

Recently, in the month of July 2026, 1290 Loomis Sayles Multi-Asset Income I returned -0.8%, which earned it a grade of D, as the Moderately Conservative Allocation category had an average return of -0.3%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.

1290 Loomis Sayles Multi-Asset Income I has a trailing yield of 5.01%, which is above the 3.29% category average. The fund normally distributes its income monthly and its capital gains annually.

It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.

1290 Loomis Sayles Multi-Asset Income I Grades

Year to date, the fund has returned 4.6%, 0.2 percentage points worse than the category, which translates into a grade of C. The fund has returned 10.7% over the past year (grade of C), 9.0% over the past three years (grade of C) and 5.1% per year over the past five years (grade of B) and 7.1% per year over the past 10 years (grade of A).

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