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  "notes": "The chart shows cumulative performance from 9/18/2024 to Feb 2025.",
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      "text": "We continue to hold a favorable view on bank loans, which have outperformed other sectors of the credit markets since the onset of the Fed rate cutting cycle last September.",
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      "text": "Performance since 9/18/2024 (first Fed rate cut)",
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      "text": "We continue to hold a favorable view on bank loans, which have outperformed other sectors of the credit markets since the onset of the Fed rate cutting cycle last September. Valuations remain attractive and the sector offers high carry relative to other areas of fixed income.",
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      "text": "Source: Morningstar, MSIM. As of February 28, 2025. The views and opinions expressed are those of the Portfolio Solutions Group at the time of writing/of this presentation and are subject to change at any time due to market, economic, or other conditions, and may not necessarily come to pass. Forecasts/estimates are based on current market conditions, subject to change, and may not necessarily come to pass.Past performance is no guarantee of future results.",
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      "text": "Bank Loans Continue to Deliver Strong Performance",
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