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Paul Stewart, CEO of Gateway Investment Advisers, to Retire
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Gateway Investment Advisers announced the retirement of CEO Paul Stewart, effective June 30, 2022. Michael T. Buckius, who has been with Gateway since 1999 and was President since March 2021, will take over as CEO while continuing as Chief Investment Officer. Under Stewart's leadership since 2013, the Gateway Fund (GATEX) thrived, becoming one of the largest options-based funds. Buckius will manage the fund alongside a skilled team post-Stewart's departure, ensuring continuity for investors.
Positive
Michael T. Buckius's long tenure ensures stability and continuity in leadership.
Gateway Fund remains one of the largest options-based funds, suggesting strong market positioning.
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None.
Firm President Michael T. Buckius Will Succeed Stewart as CEO
CINCINNATI--(BUSINESS WIRE)--
Gateway Investment Advisers, LLC (Gateway), a registered investment adviser and affiliate of Natixis Investment Managers (Natixis IM), today announced that Gateway’s CEO, Paul Stewart, will retire effective June 30, 2022. Michael T. Buckius, CFA®,1 who became President of Gateway in March 2021, will become CEO in addition to his ongoing role as the firm’s Chief Investment Officer. Buckius has served the firm in multiple investment and management capacities since joining in 1999.
Michael Buckius will become CEO of Gateway Investment Advisers after Paul Stewart's retirement on June 30, 2022 and will retain his role as Chief Investment Officer. Buckius joined the firm in 1999 and has served in multiple investment and management capacities, including as President since March 2021. (Business Wire: Photo)
Stewart, who joined Gateway in 1995, has spent his entire investment career at the firm. He assumed a portfolio manager role in 2006 and was promoted to CEO in 2013. During his tenure, the firm’s flagship fund, Gateway Fund (GATEX), has remained one of larger funds in the options-based space,2 and the Gateway Equity Call Premium Fund (GCPYX) was introduced.
“It has been my distinct honor to work at Gateway and to have had the opportunity to serve Gateway’s clients and Fund shareholders for so many years,” said Stewart. “I take great comfort in knowing that I am leaving the firm and the Funds in the care of a strong and talented team of investors and leaders.”
“Paul’s steady leadership and steadfast commitment to serving investors have contributed greatly to Gateway’s strength today, and we wish him all the best in his retirement,” said David Giunta, President and CEO for Natixis Investment Managers in the US. “Paul’s legacy includes a strong team and investment process, and we are confident that in Mike’s capable hands they will maintain their commitment to helping investors achieve their long-term goals.”
“Working alongside Paul and the entire team at Gateway has been a true privilege, and I feel very fortunate to step into the leadership role at Gateway with such a strong and experienced team at my side,” said Mike Buckius. “We wish Paul well as he prepares for a much-deserved retirement.”
Upon his retirement, Stewart will relinquish his role as co-portfolio manager of the Gateway Fund, which will continue to be managed using a team approach by the remaining four co-portfolio managers: Buckius, Daniel Ashcraft, CFA®, Kenneth Toth CFA®, and Mitchell Trotta, CFA®.
Fund Risks:
Equity securities are volatile and can decline significantly in response to broad market and economic conditions. Options may be used for hedging purposes, but also entail risks related to liquidity, market conditions and credit that may increase volatility. The value of the fund’s positions in options may fluctuate in response to changes in the value of the underlying asset. Selling call options may limit returns in a rising market.
Before investing, consider the fund's investment objectives, risks, charges, and expenses. Visit im.natixis.com or call 800-862-4863 for a prospectus or a summary prospectus or a summary prospectus containing this and other information. Read it carefully.
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1 CFA® and Chartered Financial Analyst® are registered trademarks owned by the CFA Institute.
2 Index options (European-style expiration, cash settled and exchange-traded): an option contract on an index (e.g., S&P 500) in which the buyer (owner) pays a cash premium up front to the seller (writer) of the option. If at expiration, the option contract is in-the-money, the seller pays the owner cash in the amount of the difference between the option strike price and the current value of the index; otherwise, the option expires worthless for the buyer and the seller keeps the full premium received up front. The writer of an option is paid a cash premium for taking on the risk associated with the option obligation to pay if the option expires in-the-money. Listed index options contracts can be closed or traded prior to expiration date, but not exercised.
About Gateway Investment Advisers Based in Cincinnati, Ohio, Gateway Investment Advisers, LLC (Gateway) specializes in low volatility equity strategies for risk-conscious investors. Since 1977, the firm has maintained consistent focus on reducing the risk of equity investing with option strategies. Gateway’s core low-volatility strategy seeks to capture the majority of the returns associated with equity market investments, while exposing investors to less risk than other equity investments. The firm, which has been an affiliate of Natixis Investment Managers since 2008, had approximately $11.6 billion in assets under management as of December 31, 2021.
About Natixis Investment Managers Natixis Investment Managers’ multi-affiliate approach connects clients to the independent thinking and focused expertise of more than 20 active managers. Ranked among the world’s largest asset managers1 with more than $1.4 trillion assets under management2 (€1.2 trillion), Natixis Investment Managers delivers a diverse range of solutions across asset classes, styles, and vehicles, including innovative environmental, social, and governance (ESG) strategies and products dedicated to advancing sustainable finance. The firm partners with clients in order to understand their unique needs and provide insights and investment solutions tailored to their long-term goals.
Headquartered in Paris and Boston, Natixis Investment Managers is part of the Global Financial Services division of Groupe BPCE, the second-largest banking group in France through the Banque Populaire and Caisse d’Epargne retail networks. Natixis Investment Managers’ affiliated investment management firms include AEW; Alliance Entreprendre; AlphaSimplex Group; DNCA Investments;3Dorval Asset Management; Flexstone Partners; Gateway Investment Advisers; Harris Associates; Investors Mutual Limited; Loomis, Sayles & Company; Mirova; MV Credit; Naxicap Partners; Ossiam; Ostrum Asset Management; Seeyond; Seventure Partners; Thematics Asset Management; Vauban Infrastructure Partners; Vaughan Nelson Investment Management; and WCM Investment Management. Additionally, investment solutions are offered through Natixis Investment Managers Solutions and Natixis Advisors, LLC. Not all offerings are available in all jurisdictions. For additional information, please visit Natixis Investment Managers’ website at im.natixis.com | LinkedIn: linkedin.com/company/natixis-investment-managers.
Natixis Investment Managers’ distribution and service groups include Natixis Distribution, LLC, a limited purpose broker-dealer and the distributor of various U.S. registered investment companies for which advisory services are provided by affiliated firms of Natixis Investment Managers, Natixis Investment Managers S.A. (Luxembourg), Natixis Investment Managers International (France), and their affiliated distribution and service entities in Europe and Asia.
1 Cerulli Quantitative Update: Global Markets 2021 ranked Natixis Investment Managers as the 15th largest asset manager in the world based on assets under management as of December 31, 2020.
2 Assets under management (“AUM”) as of December 31, 2021 are $1,416.3 billion (€1,245.5 billion). AUM, as reported, may include notional assets, assets serviced, gross assets, assets of minority-owned affiliated entities and other types of non-regulatory AUM managed or serviced by firms affiliated with Natixis Investment Managers. Excluding H2O Asset Management.
3 A brand of DNCA Finance.
