Loomis Sayles' Aziz Hamzaogullari on active equity managers’ opportunity amid volatility
INTERVIEWSERIES
Aziz Hamzaogullari, Chief Investment Officer, Loomis, Sayles & Company
November 2025
In this exclusive interview, Aziz discusses how volatility and dispersion in equity markets create opportunities for active managers and delves into the characteristics of companies that have outperformed the much discussed “Magnificent 7”. He explains why the “Magnificent 7” dominate investment discussions and how investors should think about balancing concentration risk with the opportunity cost of being underweight mega-caps.
Watch the full interview which covers:
00:21 - How does volatility and dispersion in equity markets create opportunities for active managers?
02:43 - How do you approach risk in uncertain and volatile equity markets?
04:27 - Why do high profile stocks like the “Magnificent 7” dominate investment discussions?
06:11 - How would you suggest investors think about balancing concentration risk with the opportunity cost of being underweight mega-caps?
08:37 - What common characteristics do companies that have outperformed the “Magnificent 7” share?
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Aziz Hamzaogullari, Chief Investment Officer, Loomis, Sayles & Company
Aziz is the Chief Investment Officer and founder of the Growth Equity Strategies team at Loomis, Sayles & Company. He is the portfolio manager of the Loomis Sayles Large Cap Growth, All Cap Growth, Global Growth, and International Growth long-only strategies as well as the Long/Short Growth Equity Strategy.
Aziz is also an Executive Vice President and a member of the firm’s Board of Directors. He joined Loomis Sayles in 2010 from Evergreen Investments, where he was a senior portfolio manager and managing director. Aziz joined Evergreen in 2001 and was promoted to director of research in 2003 and portfolio manager in 2006. He was head of Evergreen’s Berkeley Street Growth Equity team and founded the team’s research and investment process. Prior to Evergreen, he served as a senior equity analyst and portfolio manager at Manning & Napier Advisors.
Aziz has over 25 years of investment industry experience. He holds a BS from Bilkent University, Turkey, and an MBA from George Washington University. He is also a CFA charterholder.
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