333-22931

811-08282

449-2822

Prospectus

The Securities and Exchange Commission (“SEC”) has not approved or disapproved any Fund’s shares or determined whether this Prospectus is truthful

or complete. Any representation to the contrary is a crime.

Table of Contents

Fund shares are not bank deposits and are not guaranteed, endorsed or insured by the Federal Deposit Insurance Corporation or any other government

agency, and are subject to investment risks, including possible loss of the principal invested.

Fund Summary

Loomis Sayles Core Plus Bond Fund

Investment Goal

The Fund seeks high total investment return through a combination of current income and capital appreciation.

Fund Fees & Expenses

The following table describes the fees and expenses that you may pay if you buy, hold, and sell shares of the Fund. You may pay other fees, such as

brokerage commissions and other fees to financial intermediaries, which are not reflected in this table. You may qualify for sales charge discounts if you and

your family invest, or agree to invest in the future, at least $100,000 in the Natixis Funds Complex. More information about these and other discounts is

available from your financial professional and in the section “How Sales Charges Are Calculated” on page

6 of the Prospectus

, in Appendix A to the

Prospectus and on page 

12 in the section “Reduced Sales Charges” of the Statement of Additional Information (“SAI”).

Shareholder Fees

Annual Fund Operating Expenses

Example

This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that

you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods (except where indicated). The

example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. The example does not take

into account brokerage commissions and other fees to financial intermediaries that you may pay on your purchases and sales of shares of the Fund. Although

your actual costs may be higher or lower, based on these assumptions your costs would be:

1

Fund Summary

Portfolio Turnover

The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may

indicate higher transaction costs and may result in higher taxes for you if your Fund shares are held in a taxable account. These costs, which are not reflected

in annual fund operating expenses or in the example, affect the Fund’s performance. During its most recently ended fiscal year, the Fund’s portfolio turnover

rate was

% of the average value of its portfolio.

Investments, Risks and Performance

Principal Investment Strategies

Under normal market conditions, the Fund will invest at least 80% of its net assets (plus any borrowings made for investment purposes) in bonds, which

include debt securities of any maturity. In addition, the Fund will invest at least 65% of its net assets in investment grade securities. “Investment grade”

securities are those securities that are rated in one of the top four ratings categories at the time of purchase by at least one of the three major ratings

agencies (Moody’s Investors Service, Inc. (“Moody’s”), Fitch Investors Services, Inc. (“Fitch”) or S&P Global Ratings (“S&P”)), or, if unrated, are determined by

the Adviser to be of comparable quality. For purposes of this restriction, investment grade securities also include cash and cash equivalent securities. The

Fund will generally seek to maintain an effective duration of +/- 2 years relative to the Bloomberg Barclays U.S. Aggregate Bond Index. Duration is a measure

of the expected life of a fixed-income security that is used to determine the sensitivity of a security’s price to changes in interest rates. A fund with a longer

average portfolio duration will be more sensitive to changes in interest rates than a fund with a shorter average portfolio duration. By way of example, the

price of a bond fund with an average duration of five years would be expected to fall approximately 5% if interest rates rose by one percentage point. While

the effective duration for the Bloomberg Barclays U.S. Aggregate Bond Index fluctuates, as of December 31, 2020, the effective duration was approximately

6.17 years. The Fund may also invest up to 20% of its assets, at the time of purchase, in bonds rated below investment grade (i.e., none of the three major

ratings agencies (Moody’s, Fitch or S&P) have rated the securities in one of their top four ratings categories) (commonly known as “junk bonds”), or, if

unrated, securities determined by the Adviser to be of comparable quality, and up to 10% of its assets in non-U.S. dollar-denominated securities. There is no

minimum rating for the securities in which the Fund may invest.

The Fund’s investments may include securities issued by U.S. and non-U.S. corporations and governments, securities issued by supranational entities, U.S.

government-sponsored agency debenture and pass-through securities, commercial mortgage-backed and other asset-backed securities and inflation-linked

securities.

The portfolio management team seeks to build and manage a portfolio that will perform well on a benchmark-relative and, secondarily, on an absolute basis

in the market environment it anticipates over the short to intermediate term. The primary factors for broad sector positioning are the Adviser’s expected

performance of sectors in the benchmark and the incremental performance or diversification benefits the Fund’s portfolio managers anticipate from

opportunistic allocations to securities that are not included in the Fund’s benchmark. In addition, the Fund’s portfolio managers will look at individual security

selection, position size and overall duration contribution to the portfolio.

Purchase and sale considerations also include overall portfolio yield, interest rate sensitivity across different maturities held, fixed-income sector

fundamentals and outlook, technical supply/demand factors, credit risk, cash flow variability, security optionality and structure, as well as potential currency

and liquidity risk. The Adviser also considers economic factors. Individual securities are assessed on a risk/return basis, both on a benchmark-relative and on

an absolute return basis, and on their fit within the overall portfolio strategy.

Specifically, the Adviser follows a total return-oriented investment approach and considers broad sector allocation, quality and liquidity bias, yield curve

positioning and duration in selecting securities for the Fund. The Fund’s portfolio managers consider economic and market conditions as well as issuer-

specific data, such as fixed-charge coverage, the relationship between cash flows and debt service obligations, the experience and perceived strength of

management or security structure, price responsiveness of the security to interest rate changes, earnings prospects, debt as a percentage of assets,

borrowing requirements, debt maturity schedules and liquidation value.

In selecting investments for the Fund, the Adviser’s research analysts and sector teams work closely with the Fund’s portfolio managers to develop an outlook

for the economy from research produced by various financial firms and specific forecasting services or from economic data released by U.S. and foreign

governments, as well as the Federal Reserve Bank. The analysts conduct a thorough review of individual securities to identify what they consider attractive

values in the high quality bond market through the use of quantitative tools such as internal and external computer systems and software. The Adviser

continuously monitors an issuer’s creditworthiness or cash flow stability to assess whether the obligation remains an appropriate investment for the Fund. It

may relax its emphasis on quality with respect to a given security if it believes that the issuer’s financial outlook is promising. This may create an opportunity

for higher returns. The Adviser seeks to balance opportunities for yield and price performance by combining macro economic analysis with individual security

selection. Fund holdings are generally diversified across sectors and industry groups such as utilities or telecommunications, which tend to move

independently of the ebbs and flows in economic growth.

2

Fund Summary

In connection with its principal investment strategies, the Fund may also invest in securities issued pursuant to Rule 144A under the Securities Act of 1933

(“Rule 144A securities”), structured notes, collateralized loan obligations, foreign securities, including those in emerging markets, mortgage-related

securities, including mortgage dollar rolls, futures and swaps (including credit default swaps). The Fund may use such derivatives for hedging or investment

purposes. The Fund may also engage in currency transactions, including forward currency contracts. Except as provided above or as required by applicable

law, the Fund is not limited in the percentage of its assets that it may invest in these instruments.

The Fund may engage in active and frequent trading of securities and other instruments. Effects of frequent trading may include high transaction costs,

which may lower the Fund’s returns, and realization of short-term capital gains, distributions of which are taxable to shareholders who are individuals as

ordinary income. Trading costs and tax effects associated with frequent trading may adversely affect the Fund’s performance.

Principal Investment Risks

The principal risks of investing in the Fund are summarized below. The Fund does not represent a complete investment program. You may lose money

by investing in the Fund. 

The significance of any specific risk to an investment in the Fund will vary over time, depending on the composition of the Fund’s portfolio, market conditions,

and other factors. You should read all of the risk information presented below carefully, because any one or more of these risks may result in losses to the

Fund.

Interest rate risk is the risk that the value of the Fund’s investments will fall if interest rates rise.

 Generally, the value of fixed-income

securities rises when prevailing interest rates fall and falls when interest rates rise.  Interest rate risk generally is greater for funds that invest in fixed-income

securities with relatively longer durations than for funds that invest in fixed-income securities with shorter durations. 

 In addition, an economic downturn or

period of rising interest rates could adversely affect the market for these securities and reduce the Fund’s ability to sell them, negatively impacting the

performance of the Fund. Potential future changes in government monetary policy may affect the level of interest rates. 

Fluctuations in the exchange rates between different currencies may negatively affect an investment. The Fund may be subject to currency

risk because it may invest in currency-related instruments and may invest in securities or other instruments denominated in, or that generate income

denominated in, foreign currencies. 

The Fund may elect not to hedge currency risk, or may hedge such risk imperfectly, which may cause the Fund to incur

losses that would not have been incurred had the risk been hedged. 

The Fund’s investments in below investment grade fixed-income securities, also known as

“junk bonds,” may be subject to greater risks than other fixed-income securities, including being subject to greater levels of interest rate risk,

credit/counterparty risk (including a greater risk of default) and liquidity risk. The ability of the issuer to make principal and interest payments is predominantly

speculative for below investment grade fixed-income securities.

Credit/counterparty risk is the risk that the issuer or guarantor of a fixed-income security, or the counterparty to a derivative or

other transaction, will be unable or unwilling to make timely payments of interest or principal or to otherwise honor its obligations. As a result, the Fund may

sustain losses or be unable or delayed in its ability to realize gains. The Fund will be subject to credit/counterparty risks with respect to the counterparties to

its derivatives transactions. This risk will be heightened to the extent the Fund enters into derivative transactions with a single counterparty (or affiliated

counterparties that are part of the same organization), causing the Fund to have significant exposure to such counterparty. Many of the protections afforded

to participants on organized exchanges and clearing houses, such as the performance guarantee given by a central clearing house, are not available in

connection with over-the-counter (“OTC”) derivatives transactions, such as foreign currency transactions. For centrally cleared Derivatives, such as cleared 

swaps, futures and many options, the primary credit/counterparty risk is the creditworthiness of the Fund’s clearing broker and the central clearing house

itself. 

In addition to the risks associated with investments in fixed-income securities generally (for

example, credit, liquidity and valuation risk), mortgage-related and asset-backed securities are subject to the risks of the mortgages and assets underlying the

securities as well as prepayment risk, the risk that the securities may be prepaid and result in the reinvestment of the prepaid amounts in securities with

lower yields than the prepaid obligations. Conversely, there is a risk that a rise in interest rates will extend the life of a mortgage-related or asset-backed

security beyond the expected prepayment time, typically reducing the security’s value, which is called extension risk. The Fund also may incur a loss when

there is a prepayment of securities that were purchased at a premium. The Fund’s investments in other asset-backed securities are subject to risks similar to

those associated with mortgage-related securities, as well as additional risks associated with the nature of the assets and the servicing of those assets.

The Fund, its service providers, and other market participants increasingly depend on complex information

technology and communications systems, which are subject to a number of different threats and risks that could adversely affect the Fund and its

shareholders. Cybersecurity and other operational and technology issues may result in financial losses to the Fund and its shareholders.

Derivative instruments (such as those in which the Fund may invest, including forward currency contracts, structured notes, futures and

swaps (including credit default swaps)) are subject to changes in the value of the underlying assets or indices on which such instruments are based. There is

no guarantee that the use of derivatives will be effective or that suitable transactions will be available. Even a small investment in derivatives may give rise

to leverage risk and can have a significant impact on the Fund’s exposure to securities markets values, interest rates or currency exchange rates. It is possible

that the Fund’s liquid assets may be insufficient to support its obligations under its derivatives positions. The use of derivatives for other than hedging

purposes may be considered a speculative activity, and involves greater risks than are involved in hedging. The use of derivatives may cause the Fund to incur

losses greater than those that would have occurred had derivatives not been used. The Fund’s use of derivatives, such as

forward currency contracts,

3

Fund Summary

structured notes, futures transactions and swaps (including credit default swaps) involves other risks, such as the credit risk relating to the other party to a

derivative contract (which is greater for forward currency contracts, uncleared swaps and other OTC derivatives), the risk of difficulties in pricing and

valuation, the risk that changes in the value of a derivative may not correlate as expected with changes in the value of relevant assets, rates or indices;

liquidity risk; allocation risk and the risk of losing more than the initial margin (if any) required to initiate derivatives positions. There is also the risk that the

Fund may be unable to terminate or sell a derivative position at an advantageous time or price. The Fund’s derivative counterparties may experience financial

difficulties or otherwise be unwilling or unable to honor their obligations, possibly resulting in losses to the Fund. 

In addition to the risks of investing in foreign investments generally, emerging markets investments are subject to greater risks

arising from political or economic instability, nationalization or confiscatory taxation, currency exchange restrictions, sanctions by other countries (such as the

United States) and an issuer’s unwillingness or inability to make principal or interest payments on its obligations. Emerging markets companies may be

smaller and have shorter operating histories than companies in developed markets.

Investments in foreign securities may be subject to greater political, economic, environmental, credit/counterparty

and information

risks. The Fund’s investments in foreign securities also are subject to foreign currency fluctuations and other foreign currency-related risks. Foreign securities

may be subject to higher volatility than U.S. securities, varying degrees of regulation and limited liquidity.

 Inflation risk is the risk that the value of assets or income from investments will be worth less in the future as inflation decreases

the present value of future payments. Deflation risk is the risk that prices throughout the economy decline over time - the opposite of inflation. Deflation may

have an adverse effect on the creditworthiness of issuers and may make issuer default more likely, which may result in a decline in the value of the Fund’s

portfolio.

Leverage is the risk associated with securities or investment practices (e.g., borrowing and use of certain derivatives) that multiply small

index, market or asset-price movements into larger changes in value. The use of leverage increases the impact of gains and losses on the Fund’s returns, and

may lead to significant losses if investments are not successful.

  Liquidity risk is the risk that the Fund may be unable to find a buyer for its investments when it seeks to sell them or to receive the price it

expects. Decreases in the number of financial institutions willing to make markets in the Fund’s investments or in their capacity or willingness to transact may

increase the Fund’s exposure to this risk. Events that may lead to increased redemptions, such as market disruptions or increases in interest rates, may also

negatively impact the liquidity of the Fund’s investments when it needs to dispose of them. If the Fund is forced to sell its investments at an unfavorable time

and/or under adverse conditions in order to meet redemption requests, such sales could negatively affect the Fund. Securities acquired in a private

placement, such as Rule 144A securities, are generally subject to significant liquidity risk because they are subject to strict restrictions on resale and there

may be no liquid secondary market or ready purchaser for such securities.

Derivatives, and particularly OTC derivatives, are generally subject to liquidity risk

as well. Liquidity issues may also make it difficult to value the Fund’s investments.

A strategy used by the Fund’s 

portfolio managers may fail to produce the intended result.

 

The market value of the Fund’s investments will move up and down, sometimes rapidly and unpredictably, based upon overall market

and economic conditions, as well as a number of reasons that directly relate to the issuers of the Fund’s investments, such as management performance,

financial condition and demand for the issuers’ goods and services. 

Risk/Return Bar Chart and Table

The bar chart and table shown below provide some indication of the risks of investing in the Fund by showing changes in the Fund’s performance from year-

to-year and by showing how the Fund’s average annual returns for the one-year, five-year, ten-year and life-of-class periods (as applicable) compare to those

of a broad measure of market performance. The Fund’s past performance (before and after taxes) does not necessarily indicate how the Fund will perform in

the future. Updated performance information is available online at im.natixis.com and/or by calling the Fund toll-free at 800-225-5478.

The chart does not reflect any sales charge that you may be required to pay when you buy or redeem the Fund’s shares. A sales charge will reduce your

return.

4

Fund Summary

The Fund did not have Class T shares outstanding during the periods shown above. The returns of Class T shares would have been substantially similar to the

returns of the Fund’s other share classes because they would have been invested in the same portfolio of securities and would only differ to the extent the

other share classes did not have the same expenses. Performance of Class T shares shown above is that of Class A shares, which have the same expenses as

Class T shares, restated to reflect the different sales load applicable to Class T shares. 

After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.

Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who

hold their shares through tax-advantaged arrangements, such as 401(k) plans, qualified plans, education savings accounts, such as 529 plans, or individual

retirement accounts. The after-tax returns are shown for only one class of the Fund. After-tax returns for the other classes of the Fund will vary. Index

performance reflects no deduction for fees, expenses or taxes.

Management

Investment Adviser

Loomis, Sayles & Company, L.P. 

Portfolio Managers

Peter W. Palfrey, CFA

, Vice President of the Adviser, has served as co-lead portfolio manager of the Fund since 1996.

Richard G. Raczkowski, Executive Vice President and Director of the Adviser, has served as co-lead portfolio manager of the Fund since 1999.

Ian Anderson, Vice President of the Adviser, has served as co-agency MBS portfolio manager of the Fund since 2020. 

Barath W. Sankaran, CFA

, Vice President of the Adviser, has served as co-agency MBS portfolio manager of the Fund since 2020.

Purchase and Sale of Fund Shares

Class A and C Shares

The following chart shows the investment minimums for various types of accounts:

There is no initial or subsequent investment minimum for:

•

(such as wrap accounts) where an advisory fee is paid to the broker-dealer or other financial intermediary. Please consult your

financial representative to determine if your fee based program is subject to additional or different conditions or fees.

5

Fund Summary

•

Please consult your retirement plan administrator to determine if your retirement plan is subject to additional or different

conditions or fees imposed by the plan administrator.

• Clients of a

where the Registered Investment Adviser receives an advisory, management or consulting fee.

The minimum investment requirements may be waived or lowered for investments effected through certain financial intermediaries that have entered into special arrangements with Natixis Distribution, L.P. (the “Distributor”). Consult your financial intermediary for additional information regarding the minimum investment requirement applicable to your investment.

Class N Shares

Class N shares of the Fund are subject to a $1,000,000 initial investment minimum. This minimum applies to Fee Based Programs and accounts (such as wrap

accounts) where an advisory fee is paid to the broker-dealer or other financial intermediary, accounts established via a transfer, or any other transaction in

which a new account is established. There is no subsequent investment minimum for these shares. There is no initial investment minimum for:

 

 

 

In its sole discretion, the Distributor may waive the investment minimum requirement for accounts as to which the Distributor reasonably believes will have

enough assets to exceed the investment minimum requirement within a relatively short period of time following the establishment date of such accounts in

Class N. If, after two years, an account’s value does not exceed the investment minimum requirement, the Distributor and the Fund reserve the right to

redeem such account.

Class T Shares

Class T shares of the Fund are not currently available for purchase.

Class T shares of the Fund may only be purchased by investors who are investing through an authorized third party, such as a broker-dealer or other financial

intermediary, that has entered into a selling agreement with Natixis Distribution, L.P. Investors may not hold Class T shares directly with the Fund. Class T

shares are subject to a minimum initial investment of $2,500 and a minimum subsequent investment of $50.  Not all financial intermediaries make Class T

shares available to their clients.

Class Y Shares

Class Y shares of the Fund are generally subject to a minimum initial investment of $100,000 and a minimum subsequent investment of $50, except there is

no minimum initial or subsequent investment for:

•

(such as wrap accounts) where an advisory fee is paid to the broker-dealer or other financial intermediary. Please consult your

financial representative to determine if your fee based program is subject to additional or different conditions or fees.

•

Please consult your retirement plan administrator to determine if your retirement plan is subject to additional or different

conditions or fees imposed by the plan administrator.

•

if the amounts invested represent rollover distributions from investments by any of the retirement plans

invested in the Fund.

• Clients of a

where the Registered Investment Adviser receives an advisory, management or consulting fee.

•

former Fund trustees, employees of affiliates of the Natixis Funds and other individuals who are affiliated with any Natixis Fund (this also

applies to any spouse, parents, children, siblings, grandparents, grandchildren and in-laws of those mentioned) and Natixis affiliate employee benefit plans.

At the discretion of Natixis Advisors, L.P., clients of Natixis Advisors, L.P. and its affiliates may purchase Class Y shares of the Fund below the stated

minimums.

Due to operational limitations at your financial intermediary, certain fee based programs, retirement plans, individual retirement accounts and accounts of

registered investment advisers may be subject to the investment minimums described above.

The Fund’s shares are available for purchase and are redeemable on any business day through your investment dealer, directly from the Fund by writing to the

Fund at Natixis Funds, P.O. Box 219579, Kansas City, MO 64121-9579, by exchange, by wire, by internet at im.natixis.com (certain restrictions may apply),

through the Automated Clearing House system, or, in the case of redemptions, by telephone at 800-225-5478 or by the Systematic Withdrawal Plan. 

Tax Information

Fund distributions are generally taxable to you as ordinary income or capital gains, except for distributions to retirement plans and other investors that qualify

for tax-advantaged treatment under U.S. federal income tax law generally. Investments in such tax-advantaged plans will generally be taxed only upon

withdrawal of monies from the tax-advantaged arrangement.

6

Fund Summary

Payments to Broker-Dealers and Other Financial Intermediaries

If you purchase shares of the Fund through a broker-dealer or other financial intermediary (such as a bank), the Fund and its related companies may pay the

intermediary for the sale of the Fund shares and related services. These payments may create a conflict of interest by influencing the broker-dealer or other

intermediary and your salesperson to recommend the Fund over another investment. Ask your salesperson or visit your financial intermediary’s website for

more information.

7

Fund Summary

Loomis Sayles Credit Income Fund

Investment Goal

The Fund seeks high current income with a secondary objective of capital growth.

Fund Fees & Expenses

The following table describes the fees and expenses that you may pay if you buy, hold, and sell shares of the Fund. You may pay other fees, such as

brokerage commissions and other fees to financial intermediaries, which are not reflected in this table. You may qualify for sales charge discounts if you and

your family invest, or agree to invest in the future, at least $100,000 in the Natixis Funds Complex. More information about these and other discounts is

available from your financial professional and in the section “How Sales Charges Are Calculated” on page

62 of the Prospectus

, in Appendix A to the

Prospectus and on page 

120 in the section “Reduced Sales Charges” of the Statement of Additional Information (“SAI”).

Shareholder Fees

Annual Fund Operating Expenses

Example

This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that

you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods (except where indicated). The

example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same, except that the example is

based on the Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement assuming that such waiver and/or reimbursement will

only be in place through the date noted above and on the Total Annual Fund Operating Expenses for the remaining periods. The example does not take into

account brokerage commissions and other fees to financial intermediaries that you may pay on your purchases and sales of shares of the Fund. Although

your actual costs may be higher or lower, based on these assumptions your costs would be:

8

Fund Summary

Portfolio Turnover

The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may

indicate higher transaction costs and may result in higher taxes for you if your Fund shares are held in a taxable account. These costs, which are not reflected

in annual fund operating expenses or in the example, affect the Fund’s performance. For the period from the Fund’s commencement of operations on

September 29, 2020 through September 30, 2020, the Fund’s portfolio turnover rate was 0% of the average value of its portfolio. 

Investments, Risks and Performance

Principal Investment Strategies

Under normal market conditions, the Fund will invest at least 80% of its net assets (plus any borrowings made for investment purposes) in fixed-income

securities (for example, bonds and other investments that Loomis Sayles believes have similar economic characteristics, such as notes, debentures and

loans).

The Fund will primarily invest in investment-grade-fixed-income securities. The Fund may also invest up to 35% of its assets in below investment-grade fixed-

income securities (commonly known as “junk bonds”). Below investment-grade fixed-income securities are rated below investment-grade quality (i.e., none of

the three major rating agencies (Moody’s Investors Service, Inc., Fitch Investor Services, Inc. or S&P Global Ratings) have rated the securities in one of their

respective top four ratings categories). The Fund’s fixed-income securities investments may include unrated securities (securities that are not rated by a rating

agency) if Loomis Sayles determines that the securities are of comparable quality to rated securities that the Fund may purchase. There is no minimum rating

for the securities in which the Fund may invest. The Fund may invest in fixed-income securities of any maturity. The Fund may invest in securities of any

duration.

The Fund will primarily invest in fixed-income securities of domestic and foreign corporate issuers. The Fund may invest up to 30% of its assets in foreign

securities, including emerging markets securities. Although certain securities purchased by the Fund may be issued by domestic companies incorporated

outside of the United States, Loomis Sayles does not consider these securities to be foreign if the issuer is included in the U.S. fixed-income indices published

by Bloomberg Barclays. The Fund will only invest in U.S. dollar denominated securities.

In deciding which securities to buy and sell, Loomis Sayles may consider a number of factors related to the bond issue and the current bond market, including,

for example, the financial strength of the issuer, current interest rates, current valuations and Loomis Sayles’ expectations regarding general trends in interest

rates. Loomis Sayles will also consider how purchasing or selling a bond would impact the overall portfolio’s risk profile (for example, its sensitivity to interest

rate risk and sector-specific risk) and potential return (income and capital gains).

Three themes typically drive the Fund’s investment approach. First, Loomis Sayles generally seeks fixed-income securities that are attractively valued relative

to the Loomis Sayles’ credit research team’s assessment of credit risk. This includes seeking to capture credit improvement situations based on forward-

looking proprietary research. The broad coverage combined with the objective of identifying attractive investment opportunities makes this an important

component of the investment approach. Second, the Fund may invest significantly in securities the prices of which Loomis Sayles believes are more sensitive

to events related to the underlying issuer than to changes in general interest rates or overall market default rates. These securities may not have a direct

correlation with changes in interest rates, thus helping to manage interest rate risk and to offer diversified sources for return. Third, Loomis Sayles analyzes

different sectors of the economy and differences in the yields (“spreads”) of various fixed-income securities (U.S. government securities, investment-grade

securities, securitized assets, high-yield securities, emerging market securities, non-U.S. sovereigns and credits, convertible securities, bank loans and

municipal securities) in an effort to find securities that it believes may produce attractive returns for the Fund in comparison to their risk.

The Fund may also invest in U.S. government securities, bank loans, collateralized loan obligations, convertible securities and securities issued pursuant to

Rule 144A under the Securities Act of 1933 (“Rule 144A securities”). The Fund may also invest in futures, forward contracts and swaps (including credit

default swaps) for hedging and investment purposes.

Principal Investment Risks

The principal risks of investing in the Fund are summarized below. The Fund does not represent a complete investment program. You may lose money

by investing in the Fund. 

9

Fund Summary

The significance of any specific risk to an investment in the Fund will vary over time, depending on the composition of the Fund’s portfolio, market conditions,

and other factors. You should read all of the risk information presented below carefully, because any one or more of these risks may result in losses to the

Fund.

Credit/counterparty risk is the risk that the issuer or guarantor of a fixed-income security, or the counterparty to a derivative or

other transaction, will be unable or unwilling to make timely payments of interest or principal or to otherwise honor its obligations. As a result, the Fund may

sustain losses or be unable or delayed in its ability to realize gains. The Fund will be subject to credit/counterparty risks with respect to the counterparties to

its derivatives transactions. This risk will be heightened to the extent the Fund enters into derivative transactions with a single counterparty (or affiliated

counterparties that are part of the same organization), causing the Fund to have significant exposure to such counterparty. Many of the protections afforded

to participants on organized exchanges and clearing houses, such as the performance guarantee given by a central clearing house, are not available in

connection with over-the-counter (“OTC”) derivatives transactions, such as foreign currency transactions. For centrally cleared derivatives, such as cleared 

swaps, futures and many options, the primary credit/counterparty risk is the creditworthiness of the Fund’s clearing broker and the central clearing house

itself. 

Interest rate risk is the risk that the value of the Fund’s investments will fall if interest rates rise.

 Generally, the value of fixed-income

securities rises when prevailing interest rates fall and falls when interest rates rise.  Interest rate risk generally is greater for funds that invest in fixed-income

securities with relatively longer durations than for funds that invest in fixed-income securities with shorter durations. 

 In addition, an economic downturn or

period of rising interest rates could adversely affect the market for these securities and reduce the Fund’s ability to sell them, negatively impacting the

performance of the Fund. Potential future changes in government monetary policy may affect the level of interest rates. 

The Fund’s investments in below investment grade fixed-income securities, also known as

“junk bonds,” may be subject to greater risks than other fixed-income securities, including being subject to greater levels of interest rate risk,

credit/counterparty risk (including a greater risk of default) and liquidity risk. The ability of the issuer to make principal and interest payments is predominantly

speculative for below investment grade fixed-income securities.

The market value of the Fund’s investments will move up and down, sometimes rapidly and unpredictably, based upon overall market

and economic conditions, as well as a number of reasons that directly relate to the issuers of the Fund’s investments, such as management performance,

financial condition and demand for the issuers’ goods and services. 

Ownership of shares of the Fund may be concentrated in one or a few large investors. Such investors may redeem shares in large

quantities or on a frequent basis. Redemptions by a large investor can affect the performance of the Fund, may increase realized capital gains, including

short-term capital gains taxable as ordinary income, may accelerate the realization of taxable income to shareholders and may increase transaction costs.

These transactions potentially limit the use of any capital loss carryforwards and certain other losses to offset future realized capital gains (if any). Such

transactions may also increase the Fund’s expenses.

Leverage is the risk associated with securities or investment practices (e.g., borrowing and use of certain derivatives) that multiply small

index, market or asset-price movements into larger changes in value. The use of leverage increases the impact of gains and losses on the Fund’s returns, and

may lead to significant losses if investments are not successful.

  Liquidity risk is the risk that the Fund may be unable to find a buyer for its investments when it seeks to sell them or to receive the price it

expects. Decreases in the number of financial institutions willing to make markets in the Fund’s investments or in their capacity or willingness to transact may

increase the Fund’s exposure to this risk. Events that may lead to increased redemptions, such as market disruptions or increases in interest rates, may also

negatively impact the liquidity of the Fund’s investments when it needs to dispose of them. If the Fund is forced to sell its investments at an unfavorable time

and/or under adverse conditions in order to meet redemption requests, such sales could negatively affect the Fund. Securities acquired in a private

placement, such as Rule 144A securities, are generally subject to significant liquidity risk because they are subject to strict restrictions on resale and there

may be no liquid secondary market or ready purchaser for such securities.

 Liquidity issues may also make it difficult to value the Fund’s investments.

Investments in CLOs involve risks in addition to the risks associated with investments in debt obligations

and other fixed-income securities such as credit risk, interest rate risk, liquidity risk and market/issuer risk. The degree of such risk will generally correspond

to the type of underlying assets and the specific tranche in which the Fund is invested. A CLO’s performance is linked to the expertise of the CLO manager and

its ability to manage the CLO’s portfolio. Changes in the regulation of CLOs may adversely affect the value of the CLO investments held by the Fund. The

tranche of the CLO held by the Fund may be subordinate to other classes of the CLO’s debt. CLO debt is payable solely from the proceeds of the CLO’s

underlying assets and, therefore, if the income from the underlying loans is insufficient to make payments on one or more tranches of the CLO’s debt, no other

assets will be available for payment. CLO debt securities may be subject to redemption and the timing of redemptions may adversely affect the returns on

CLO debt. The CLO manager may not find suitable assets in which to invest and the CLO manager’s opportunities to invest may be limited.

 Convertible securities have investment characteristics of both equity and debt securities. Investments in convertible securities

are subject to the usual risks associated with debt instruments, such as interest rate risk and credit risk. Convertible securities also react to changes in the

value of the common stock into which they convert, and are thus subject to many of the same risks as investing in common stock. The Fund may also be

forced to convert a convertible security at an inopportune time, which may decrease the Fund’s return.

10

Fund Summary

The Fund, its service providers, and other market participants increasingly depend on complex information

technology and communications systems, which are subject to a number of different threats and risks that could adversely affect the Fund and its

shareholders. Cybersecurity and other operational and technology issues may result in financial losses to the Fund and its shareholders.

Derivative instruments (such as those in which the Fund may invest, including swap transactions (including credit default swaps)) are

subject to changes in the value of the underlying assets or indices on which such instruments are based. There is no guarantee that the use of derivatives will

be effective or that suitable transactions will be available. Even a small investment in derivatives may give rise to leverage risk and can have a significant

impact on the Fund’s exposure to securities market values, interest rates or currency exchange rates. It is possible that the Fund’s liquid assets may be

insufficient to support its obligations under its derivatives positions. The use of derivatives for other than hedging purposes may be considered a speculative

activity, and involves greater risks than are involved in hedging. The use of derivatives may cause the Fund to incur losses greater than those that would have

occurred had derivatives not been used. The Fund’s use of derivatives, such as

forward currency contracts and swap transactions (including credit default

swaps)) involves other risks, such as the credit/counterparty risk relating to the other party to a derivative contract (which is greater for forward currency

contracts, uncleared swaps and other OTC derivatives), the risk of difficulties in pricing and valuation, the risk that changes in the value of a derivative may

not correlate as expected with changes in the value of relevant assets, rates or indices, liquidity risk, allocation risk and the risk of losing more than the initial

margin (if any) required to initiate derivative positions. There is also the risk that the Fund may be unable to terminate or sell a derivatives position at an

advantageous time or price. The Fund’s derivative counterparties may experience financial difficulties or otherwise be unwilling or unable to honor their

obligations, possibly resulting in losses to the Fund. 

In addition to the risks of investing in foreign investments generally, emerging markets investments are subject to greater risks

arising from political or economic instability, nationalization or confiscatory taxation, currency exchange restrictions, sanctions by other countries (such as the

United States) and an issuer’s unwillingness or inability to make principal or interest payments on its obligations. Emerging markets companies may be

smaller and have shorter operating histories than companies in developed markets.

Investments in foreign securities may be subject to greater political, economic, environmental, credit/counterparty

and information

risks. Foreign securities may be subject to higher volatility than U.S. securities, varying degrees of regulation and limited liquidity.

LIBOR risk is the risk that the transition away from the London Interbank Offered Rate (“LIBOR”) may lead to increased volatility and illiquidity in

markets that are tied to LIBOR. LIBOR is a benchmark interest rate that is used extensively as a “reference rate” for financial instruments, including many

corporate and municipal bonds, bank loans, asset-backed and mortgage-related securities, interest rate swaps and other derivatives. Additionally, the Fund

may borrow money at rates that are based on LIBOR. In July 2017, the head of the United Kingdom Financial Conduct Authority, the agency that oversees

LIBOR, announced that after 2021 it will cease its active encouragement of banks to provide the quotations needed to sustain LIBOR. That announcement

suggests that LIBOR may cease to be published after that time. The transition away from LIBOR poses a number of other risks, including changed values of

LIBOR-related investments and reduced effectiveness of hedging strategies, each of which may adversely affect the Fund’s performance.

A strategy used by the Fund’s 

portfolio managers may fail to produce the intended result.

 

Prepayment and extension risk is the risk that a bond or other security or investment might, in the case of prepayment

risk, be called or otherwise converted, prepaid or redeemed before maturity and, in the case of extension risk, that the investment might not be called as

expected. In the case of prepayment risk, if the investment is converted, prepaid or redeemed before maturity, the portfolio managers may not be able to

invest the proceeds in other investments providing as high a level of income, resulting in a reduced yield to the Fund.

Investments in certain U.S. government securities may not be supported by the full faith and credit of the U.S.

government. Accordingly, no assurance can be given that the U.S. government will provide financial support to U.S. government agencies, instrumentalities or

sponsored enterprises if it is not obligated to do so by law. The maximum potential liability of the issuers of some U.S. government securities held by the Fund

may greatly exceed their current resources, and it is possible that these issuers will not have the funds to meet their payment obligations in the future. In

such a case, the Fund would have to look principally to the agency, instrumentality or sponsored enterprise issuing or guaranteeing the security for ultimate

repayment, and the Fund may not be able to assert a claim against the U.S. government itself in the event the agency, instrumentality or sponsored enterprise

does not meet its commitment. Concerns about the capacity of the U.S. government to meet its obligations may raise the interest rates payable on its

securities, negatively impacting the price of such securities already held by the Fund.

Risk/Return Bar Chart and Table

Because the Fund has not yet completed a full calendar year, information related to Fund performance, including a bar chart showing annual returns, has not

been included in this Prospectus. The performance information provided by the Fund in the future will give some indication of the risks of an investment in the

Fund by showing changes in the Fund’s performance from year to year and by showing how the Fund’s average annual returns compare against those of a

broad measure of market performance. The Fund’s past performance (before and after taxes) does not necessarily indicate how the Fund will perform in the

future. Updated performance information is available online at im.natixis.com and/or by calling the Fund toll-free at 800-225-5478.

Management

Investment Adviser

Loomis, Sayles & Company, L.P. 

11

Fund Summary

Portfolio Managers

Matthew J. Eagan, CFA

, Executive Vice President and Director of the Adviser, has served as co-portfolio manager of the Fund since 2020.

Brian P. Kennedy, Vice President of the Adviser, has served as co-portfolio manager of the Fund since 2020.

Elaine M. Stokes, Executive Vice President and Director of the Adviser, has served as co-portfolio manager of the Fund since 2020.

Purchase and Sale of Fund Shares

Class A and C Shares

The following chart shows the investment minimums for various types of accounts:

There is no initial or subsequent investment minimum for:

•

(such as wrap accounts) where an advisory fee is paid to the broker-dealer or other financial intermediary. Please consult your

financial representative to determine if your fee based program is subject to additional or different conditions or fees.

•

Please consult your retirement plan administrator to determine if your retirement plan is subject to additional or different

conditions or fees imposed by the plan administrator.

• Clients of a

where the Registered Investment Adviser receives an advisory, management or consulting fee.

The minimum investment requirements may be waived or lowered for investments effected through certain financial intermediaries that have entered into special arrangements with Natixis Distribution, L.P. (the “Distributor”). Consult your financial intermediary for additional information regarding the minimum investment requirement applicable to your investment.

Class N Shares

Class N shares of the Fund are subject to a $1,000,000 initial investment minimum. This minimum applies to Fee Based Programs and accounts (such as wrap

accounts) where an advisory fee is paid to the broker-dealer or other financial intermediary, accounts established via a transfer, or any other transaction in

which a new account is established. There is no subsequent investment minimum for these shares. There is no initial investment minimum for:

 

 

 

In its sole discretion, the Distributor may waive the investment minimum requirement for accounts as to which the Distributor reasonably believes will have

enough assets to exceed the investment minimum requirement within a relatively short period of time following the establishment date of such accounts in

Class N. If, after two years, an account’s value does not exceed the investment minimum requirement, the Distributor and the Fund reserve the right to

redeem such account.

Class Y Shares

Class Y shares of the Fund are generally subject to a minimum initial investment of $100,000 and a minimum subsequent investment of $50, except there is

no minimum initial or subsequent investment for:

•

(such as wrap accounts) where an advisory fee is paid to the broker-dealer or other financial intermediary. Please consult your

financial representative to determine if your fee based program is subject to additional or different conditions or fees.

•

Please consult your retirement plan administrator to determine if your retirement plan is subject to additional or different

conditions or fees imposed by the plan administrator.

•

if the amounts invested represent rollover distributions from investments by any of the retirement plans

invested in the Fund.

• Clients of a

where the Registered Investment Adviser receives an advisory, management or consulting fee.

•

former Fund trustees, employees of affiliates of the Natixis Funds and other individuals who are affiliated with any Natixis Fund (this also

applies to any spouse, parents, children, siblings, grandparents, grandchildren and in-laws of those mentioned) and Natixis affiliate employee benefit plans.

12

Fund Summary

At the discretion of Natixis Advisors, L.P., clients of Natixis Advisors, L.P. and its affiliates may purchase Class Y shares of the Fund below the stated

minimums.

Due to operational limitations at your financial intermediary, certain fee based programs, retirement plans, individual retirement accounts and accounts of

registered investment advisers may be subject to the investment minimums described above.

The Fund’s shares are available for purchase and are redeemable on any business day through your investment dealer, directly from the Fund by writing to the

Fund at Natixis Funds, P.O. Box 219579, Kansas City, MO 64121-9579, by exchange, by wire, by internet at im.natixis.com (certain restrictions may apply),

through the Automated Clearing House system, or, in the case of redemptions, by telephone at 800-225-5478 or by the Systematic Withdrawal Plan. 

Tax Information

Fund distributions are generally taxable to you as ordinary income or capital gains, except for distributions to retirement plans and other investors that qualify

for tax-advantaged treatment under U.S. federal income tax law generally. Investments in such tax-advantaged plans will generally be taxed only upon

withdrawal of monies from the tax-advantaged arrangement.

Payments to Broker-Dealers and Other Financial Intermediaries

If you purchase shares of the Fund through a broker-dealer or other financial intermediary (such as a bank), the Fund and its related companies may pay the

intermediary for the sale of the Fund shares and related services. These payments may create a conflict of interest by influencing the broker-dealer or other

intermediary and your salesperson to recommend the Fund over another investment. Ask your salesperson or visit your financial intermediary’s website for

more information.

13

Fund Summary

Loomis Sayles Global Allocation Fund

Investment Goal

The Fund’s investment goal is high total investment return through a combination of capital appreciation and current income.

Fund Fees & Expenses

The following table describes the fees and expenses that you may pay if you buy, hold, and sell shares of the Fund. You may pay other fees, such as

brokerage commissions and other fees to financial intermediaries, which are not reflected in this table. You may qualify for sales charge discounts if you and

your family invest, or agree to invest in the future, at least $50,000 in the Natixis Funds Complex. More information about these and other discounts is

available from your financial professional and in the section “How Sales Charges Are Calculated” on page

62 of the Prospectus

, in Appendix A to the

Prospectus and on page 

120 in the section “Reduced Sales Charges” of the Statement of Additional Information (“SAI”).

Shareholder Fees

Annual Fund Operating Expenses

14

Fund Summary

Example

This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that

you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods (except where indicated). The

example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. The example does not take

into account brokerage commissions and other fees to financial intermediaries that you may pay on your purchases and sales of shares of the Fund. Although

your actual costs may be higher or lower, based on these assumptions your costs would be:

Portfolio Turnover

The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may

indicate higher transaction costs and may result in higher taxes for you if your Fund shares are held in a taxable account. These costs, which are not reflected

in annual fund operating expenses or in the example, affect the Fund’s performance. During its most recently ended fiscal year, the Fund’s portfolio turnover

rate was

37% of the average value of its portfolio.

Investments, Risks and Performance

Principal Investment Strategies

Under normal market conditions, the Fund will invest at least 80% of its net assets (plus any borrowings made for investment purposes) in equity and fixed-

income securities of U.S. and foreign issuers. Equity securities purchased by the Fund may include common stocks, preferred stocks, depositary receipts,

warrants, securities convertible into common or preferred stocks, interests in real estate investment trusts (“REITs”) and/or real estate-related securities and

other equity-like interests in an issuer. Fixed-income securities purchased by the Fund may include bonds and other debt obligation of U.S. and foreign

issuers, including but not limited to corporations, governments and supranational entities. The Fund will invest a significant portion of its assets outside the

U.S., including securities of issuers located in emerging market countries. 

The portfolio managers reallocate the Fund’s assets between equity and fixed income securities based on their assessment of current market conditions and

the relative opportunities within each asset class, among other factors. In deciding which equity securities to buy and sell, the Adviser generally looks to

purchase quality companies at attractive valuations with the potential to grow intrinsic value over time. The Adviser uses discounted cash flow analysis,

among other methods of analysis, to determine a company’s intrinsic value. In deciding which fixed-income securities to buy and sell, the Adviser generally

looks for securities that it believes are undervalued and have the potential for credit upgrades, which may include securities that are below investment grade

(also known as “junk bonds”).

The Fund may also invest in foreign currencies, collateralized mortgage obligations, collateralized loan obligations, zero-coupon securities, when-issued

securities, REITs, securities issued pursuant to Rule 144A under the Securities Act of 1933 (“Rule 144A securities”), mortgage-related securities, convertible

securities and structured notes. The Fund may also engage in active and frequent trading of securities and engage in options or foreign currency transactions

(such as forward currency contracts) for hedging and investment purposes and futures transactions and swap transactions (including credit default swaps).

Frequent trading may produce high transaction costs and a high level of taxable capital gains, including short-term capital gains taxable as ordinary income,

which may lower the Fund’s return. The Adviser may hedge currency risk for the Fund (including “cross hedging” between two or more foreign currencies) if it

believes the outlook for a particular foreign currency is unfavorable. Except as provided above or as required by applicable law, the Fund is not limited in the

percentage of its assets that it may invest in these instruments.

Principal Investment Risks

The principal risks of investing in the Fund are summarized below. The Fund does not represent a complete investment program. You may lose money

by investing in the Fund. 

The significance of any specific risk to an investment in the Fund will vary over time, depending on the composition of the Fund’s portfolio, market conditions,

and other factors. You should read all of the risk information presented below carefully, because any one or more of these risks may result in losses to the

Fund.

15

Fund Summary

The value of the Fund’s investments in equity securities could be subject to unpredictable declines in the value of individual

securities and periods of below-average performance in individual securities or in the equity market as a whole. Growth stocks are generally more sensitive

to market movements than other types of stocks primarily because their stock prices are based heavily on future expectations. If the Adviser’s assessment of

the prospects for a company’s growth is wrong, or if the Adviser’s judgment of how other investors will value the company’s growth is wrong, then the price

of the company’s stock may fall or not approach the value that the Adviser has placed on it. Value stocks also present the risk that their lower valuations fairly

reflect their business prospects and that investors will not agree that the stocks represent favorable investment opportunities, and they may fall out of favor

with investors and under-perform growth stocks during any given period. In the event an issuer is liquidated or declares bankruptcy, the claims of owners of

the issuer’s bonds generally take precedence over the claims of those who own preferred stock or common stock.

The Fund’s investments in below investment grade fixed-income securities, also known as

“junk bonds,” may be subject to greater risks than other fixed-income securities, including being subject to greater levels of interest rate risk,

credit/counterparty risk (including a greater risk of default) and liquidity risk. The ability of the issuer to make principal and interest payments is predominantly

speculative for below investment grade fixed-income securities.

Investments in foreign securities may be subject to greater political, economic, environmental, credit/counterparty

and information

risks. The Fund’s investments in foreign securities also are subject to foreign currency fluctuations and other foreign currency-related risks. Foreign securities

may be subject to higher volatility than U.S. securities, varying degrees of regulation and limited liquidity.

Credit/counterparty risk is the risk that the issuer or guarantor of a fixed-income security, or the counterparty to a derivative or

other transaction, will be unable or unwilling to make timely payments of interest or principal or to otherwise honor its obligations. As a result, the Fund may

sustain losses or be unable or delayed in its ability to realize gains. The Fund will be subject to credit/counterparty risks with respect to the counterparties to

its derivatives transactions. This risk will be heightened to the extent the Fund enters into derivative transactions with a single counterparty (or affiliated

counterparties that are part of the same organization), causing the Fund to have significant exposure to such counterparty. Many of the protections afforded

to participants on organized exchanges and clearing houses, such as the performance guarantee given by a central clearing house, are not available in

connection with over-the-counter (“OTC”) derivatives transactions, such as foreign currency transactions. For centrally cleared 

The market value of the Fund’s investments will move up and down, sometimes rapidly and unpredictably, based upon overall market

and economic conditions, as well as a number of reasons that directly relate to the issuers of the Fund’s investments, such as management performance,

financial condition and demand for the issuers’ goods and services. 

The Fund’s allocations between asset classes and market exposures may not be optimal in every market condition and may adversely

affect the Fund’s performance.

Fluctuations in the exchange rates between different currencies may negatively affect an investment. The Fund may be subject to

currency risk because it may invest in currency-related instruments and may invest in securities or other instruments denominated in, or that generate

income denominated in, foreign currencies. The Fund may elect not to hedge currency risk, or may hedge such risk imperfectly, which may cause the Fund to

incur losses that would not have been incurred had the risk been hedged.

The Fund, its service providers, and other market participants increasingly depend on complex information

technology and communications systems, which are subject to a number of different threats and risks that could adversely affect the Fund and its

shareholders. Cybersecurity and other operational and technology issues may result in financial losses to the Fund and its shareholders.

Derivative instruments (such as those in which the Fund may invest, including options, forward currency contracts, futures transactions,

structured notes and swap transactions (including credit default swaps)) are subject to changes in the value of the underlying assets or indices on which such

instruments are based. There is no guarantee that the use of derivatives will be effective or that suitable transactions will be available. Even a small

investment in derivatives may give rise to leverage risk and can have a significant impact on the Fund’s exposure to securities markets values, interest rates

or currency exchange rates. It is possible that the Fund’s liquid assets may be insufficient to support its obligations under its derivatives positions. The use of

derivatives for other than hedging purposes may be considered a speculative activity, and involves greater risks than are involved in hedging. The use of

derivatives may cause the Fund to incur losses greater than those that would have occurred had derivatives not been used. The Fund’s use of derivatives,

such as

options, forward currency contracts, futures transactions, structured notes and swap transactions (including credit default swaps) involves other risks,

such as the credit risk relating to the other party to a derivative contract (which is greater for forward currency contracts, uncleared swaps and other OTC

derivatives) the risk of difficulties in pricing and valuation, the risk that changes in the value of a derivative may not correlate as expected with changes in the

value of relevant assets, rates or indices; liquidity risk; allocation risk and the risk of losing more than the initial margin (if any) required to initiate derivatives

positions. There is also the risk that the Fund may be unable to terminate or sell a derivative position at an advantageous time or price. The Fund’s derivative

counterparties may experience financial difficulties or otherwise be unwilling or unable to honor their obligations, possibly resulting in losses to the Fund. 

In addition to the risks of investing in foreign investments generally, emerging markets investments are subject to greater risks

arising from political or economic instability, nationalization or confiscatory taxation, currency exchange restrictions, sanctions by other countries (such as the

United States) and an issuer’s unwillingness or inability to make principal or interest payments on its obligations. Emerging markets companies may be

smaller and have shorter operating histories than companies in developed markets.

16

Fund Summary

Interest rate risk is the risk that the value of the Fund’s investments will fall if interest rates rise.

 Generally, the value of fixed-income

securities rises when prevailing interest rates fall and falls when interest rates rise.  Interest rate risk generally is greater for funds that invest in fixed-income

securities with relatively longer durations than for funds that invest in fixed-income securities with shorter durations. 

The values of zero-coupon securities

and securities with longer maturities are generally more sensitive to fluctuations in interest rates than other fixed-income securities. In addition, an economic

downturn or period of rising interest rates could adversely affect the market for these securities and reduce the Fund’s ability to sell them, negatively

impacting the performance of the Fund. Potential future changes in government monetary policy may affect the level of interest rates. 

Ownership of shares of the Fund may be concentrated in one or a few large investors. Such investors may redeem shares in large

quantities or on a frequent basis. Redemptions by a large investor can affect the performance of the Fund, may increase realized capital gains, including

short-term capital gains taxable as ordinary income, may accelerate the realization of taxable income to shareholders and may increase transaction costs.

These transactions potentially limit the use of any capital loss carryforwards and certain other losses to offset future realized capital gains (if any). Such

transactions may also increase the Fund’s expenses.

Leverage is the risk associated with securities or investment practices (e.g., borrowing and use of certain derivatives) that multiply small

index, market or asset-price movements into larger changes in value. The use of leverage increases the impact of gains and losses on the Fund’s returns, and

may lead to significant losses if investments are not successful.

  Liquidity risk is the risk that the Fund may be unable to find a buyer for its investments when it seeks to sell them or to receive the price it

expects. Decreases in the number of financial institutions willing to make markets in the Fund’s investments or in their capacity or willingness to transact may

increase the Fund’s exposure to this risk. Events that may lead to increased redemptions, such as market disruptions or increases in interest rates, may also

negatively impact the liquidity of the Fund’s investments when it needs to dispose of them. If the Fund is forced to sell its investments at an unfavorable time

and/or under adverse conditions in order to meet redemption requests, such sales could negatively affect the Fund. Securities acquired in a private

placement, such as Rule 144A securities, are generally subject to significant liquidity risk because they are subject to strict restrictions on resale and there

may be no liquid secondary market or ready purchaser for such securities.

Derivatives, and particularly OTC derivatives, are generally subject to liquidity risk

as well. Liquidity issues may also make it difficult to value the Fund’s investments.

A strategy used by the Fund’s 

portfolio managers may fail to produce the intended result.

 

In addition to the risks associated with investments in fixed-income securities generally (for example, credit, liquidity

and valuation risk), mortgage-related securities are subject to the risks of the mortgages underlying the securities as well as prepayment risk, the risk that the

securities may be prepaid and result in the reinvestment of the prepaid amounts in securities with lower yields than the prepaid obligations. Conversely, there

is a risk that a rise in interest rates will extend the life of a mortgage-related security beyond the expected prepayment time, typically reducing the security’s

value. The Fund also may incur a loss when there is a prepayment of securities that were purchased at a premium. The Fund’s investments in other asset-

backed securities are subject to risks similar to those associated with mortgage-related securities, as well as additional risks associated with the nature of

the assets and the servicing of those assets.

 

Investments in the real estate industry, including REITs, are particularly sensitive to economic downturns and are sensitive to factors such as

changes in real estate values, property taxes and tax laws, interest rates, cash flow of underlying real estate assets, occupancy rates, government regulations

affecting zoning, land use and rents and the management skill and creditworthiness of the issuer. Companies in the real estate industry also may be subject

to liabilities under environmental and hazardous waste laws. In addition, the value of a REIT is affected by changes in the value of the properties owned by

the REIT or mortgage loans held by the REIT. REITs are also subject to default and prepayment risk. Many REITs are highly leveraged, increasing their risk. The

Fund will indirectly bear its proportionate share of expenses, including management fees, paid by each REIT in which it invests in addition to the expenses of

the Fund.

Risk/Return Bar Chart and Table

The bar chart and table shown below provide some indication of the risks of investing in the Fund by showing changes in the Fund’s performance from year-

to-year and by showing how the Fund’s average annual returns for the one-year, five-year, ten-year and life-of-class periods (as applicable) compare to those

of two broad measures of market performance. The Blended Index is an unmanaged, blended index composed of the following weights: 60% MSCI All

Country World Index (Net) and 40% Bloomberg Barclays Global Aggregate Bond Index. The two indices composing the Blended Index measure, respectively,

the performance of global equity securities and global investment grade fixed income securities. The Fund’s past performance (before and after taxes) does

not necessarily indicate how the Fund will perform in the future. Updated performance information is available online at im.natixis.com and/or by calling the

Fund toll-free at 800-225-5478.

The chart does not reflect any sales charge that you may be required to pay when you buy or redeem the Fund’s shares. A sales charge will reduce your

return.

17

Fund Summary

The Fund did not have Class T shares outstanding during the periods shown above. The returns of Class T shares would have been substantially similar to the

returns of the Fund’s other share classes because they would have been invested in the same portfolio of securities and would only differ to the extent the

other share classes did not have the same expenses. Performance of Class T shares shown above is that of Class A shares, which have the same expenses as

Class T shares, restated to reflect the different sales load applicable to Class T shares.

After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.

Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who

hold their shares through tax-advantaged arrangements, such as 401(k) plans, qualified plans, education savings accounts, such as 529 plans, or individual

retirement accounts.

 The after-tax returns are shown for only one class of the Fund. After-tax returns for the other classes of the Fund will vary. Index

performance reflects no deduction for fees, expenses or taxes.

Management

Investment Adviser

Loomis, Sayles & Company, L.P. 

Portfolio Managers

Daniel J. Fuss*, CFA

, CIC, Vice Chairman, Director and Managing Partner of the Adviser, has served as portfolio manager of the domestic fixed-

income securities sector of the Fund since 1996.

Eileen N. Riley, CFA

, Vice President of the Adviser, has served as portfolio manager of the global equity sector of the Fund since 2013.

David W. Rolley, CFA

, Vice President of the Adviser, has served as portfolio manager of the international fixed-income securities sector of the Fund since

2000.

Lee M. Rosenbaum, Vice President of the Adviser, has served as portfolio manager of the global equity sector of the Fund since 2013.

*Effective March 1, 2021, Daniel J. Fuss will no longer serve as a portfolio manager of the Fund and Matthew J. Eagan will join the portfolio management

team of the Fund.

18

Fund Summary

Purchase and Sale of Fund Shares

Class A and C Shares

The following chart shows the investment minimums for various types of accounts:

There is no initial or subsequent investment minimum for:

•

(such as wrap accounts) where an advisory fee is paid to the broker-dealer or other financial intermediary. Please consult your

financial representative to determine if your fee based program is subject to additional or different conditions or fees.

•

Please consult your retirement plan administrator to determine if your retirement plan is subject to additional or different

conditions or fees imposed by the plan administrator.

• Clients of a

where the Registered Investment Adviser receives an advisory, management or consulting fee.

The minimum investment requirements may be waived or lowered for investments effected through certain financial intermediaries that have entered into special arrangements with Natixis Distribution, L.P. (the “Distributor”). Consult your financial intermediary for additional information regarding the minimum investment requirement applicable to your investment.

Class N Shares

Class N shares of the Fund are subject to a $1,000,000 initial investment minimum. This minimum applies to Fee Based Programs and accounts (such as wrap

accounts) where an advisory fee is paid to the broker-dealer or other financial intermediary, accounts established via a transfer, or any other transaction in

which a new account is established. There is no subsequent investment minimum for these shares. There is no initial investment minimum for:

 

 

 

In its sole discretion, the Distributor may waive the investment minimum requirement for accounts as to which the Distributor reasonably believes will have

enough assets to exceed the investment minimum requirement within a relatively short period of time following the establishment date of such accounts in

Class N. If, after two years, an account’s value does not exceed the investment minimum requirement, the Distributor and the Fund reserve the right to

redeem such account.

Class T Shares

Class T shares of the Fund are not currently available for purchase.

Class T shares of the Fund may only be purchased by investors who are investing through an authorized third party, such as a broker-dealer or other financial

intermediary, that has entered into a selling agreement with Natixis Distribution, L.P. Investors may not hold Class T shares directly with the Fund. Class T

shares are subject to a minimum initial investment of $2,500 and a minimum subsequent investment of $50.  Not all financial intermediaries make Class T

shares available to their clients.

Class Y Shares

Class Y shares of the Fund are generally subject to a minimum initial investment of $100,000 and a minimum subsequent investment of $50, except there is

no minimum initial or subsequent investment for:

•

(such as wrap accounts) where an advisory fee is paid to the broker-dealer or other financial intermediary. Please consult your

financial representative to determine if your fee based program is subject to additional or different conditions or fees.

•

Please consult your retirement plan administrator to determine if your retirement plan is subject to additional or different

conditions or fees imposed by the plan administrator.

•

if the amounts invested represent rollover distributions from investments by any of the retirement plans

invested in the Fund.

• Clients of a

where the Registered Investment Adviser receives an advisory, management or consulting fee.

19

Fund Summary

•

former Fund trustees, employees of affiliates of the Natixis Funds and other individuals who are affiliated with any Natixis Fund (this also

applies to any spouse, parents, children, siblings, grandparents, grandchildren and in-laws of those mentioned) and Natixis affiliate employee benefit plans.

At the discretion of Natixis Advisors, L.P., clients of Natixis Advisors, L.P. and its affiliates may purchase Class Y shares of the Fund below the stated

minimums.

Due to operational limitations at your financial intermediary, certain fee based programs, retirement plans, individual retirement accounts and accounts of

registered investment advisers may be subject to the investment minimums described above.

The Fund’s shares are available for purchase and are redeemable on any business day through your investment dealer, directly from the Fund by writing to the

Fund at Natixis Funds, P.O. Box 219579, Kansas City, MO 64121-9579, by exchange, by wire, by internet at im.natixis.com (certain restrictions may apply),

through the Automated Clearing House system, or, in the case of redemptions, by telephone at 800-225-5478 or by the Systematic Withdrawal Plan. 

Tax Information

Fund distributions are generally taxable to you as ordinary income or capital gains, except for distributions to retirement plans and other investors that qualify

for tax-advantaged treatment under U.S. federal income tax law generally. Investments in such tax-advantaged plans will generally be taxed only upon

withdrawal of monies from the tax-advantaged arrangement.

Payments to Broker-Dealers and Other Financial Intermediaries

If you purchase shares of the Fund through a broker-dealer or other financial intermediary (such as a bank), the Fund and its related companies may pay the

intermediary for the sale of the Fund shares and related services. These payments may create a conflict of interest by influencing the broker-dealer or other

intermediary and your salesperson to recommend the Fund over another investment. Ask your salesperson or visit your financial intermediary’s website for

more information.

20

Fund Summary

Loomis Sayles Growth Fund

Investment Goal

The Fund’s investment goal is long-term growth of capital.

Fund Fees & Expenses

The following table describes the fees and expenses that you may pay if you buy, hold, and sell shares of the Fund. You may pay other fees, such as

brokerage commissions and other fees to financial intermediaries, which are not reflected in this table. You may qualify for sales charge discounts if you and

your family invest, or agree to invest in the future, at least $50,000 in the Natixis Funds Complex. More information about these and other discounts is

available from your financial professional and in the section “How Sales Charges Are Calculated” on page

62 of the Prospectus

, in Appendix A to the

Prospectus and on page 

120 in the section “Reduced Sales Charges” of the Statement of Additional Information (“SAI”).

Shareholder Fees

Annual Fund Operating Expenses

Example

This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that

you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods (except where indicated). The

example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. The example does not take

into account brokerage commissions and other fees to financial intermediaries that you may pay on your purchases and sales of shares of the Fund. Although

your actual costs may be higher or lower, based on these assumptions your costs would be:

21

Fund Summary

Portfolio Turnover

The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may

indicate higher transaction costs and may result in higher taxes for you if your Fund shares are held in a taxable account. These costs, which are not reflected

in annual fund operating expenses or in the example, affect the Fund’s performance. During its most recently ended fiscal year, the Fund’s portfolio turnover

rate was

19% of the average value of its portfolio.

Investments, Risks and Performance

Principal Investment Strategies

Under normal market conditions, the Fund will invest primarily in equity securities, including common stocks, convertible securities and warrants. The Fund

focuses on stocks of large capitalization companies, but the Fund may invest in companies of any size.

The Fund normally invests across a wide range of sectors and industries. The Fund’s portfolio manager employs a growth style of equity management, which

means that the Fund seeks to invest in companies with sustainable competitive advantages versus others, long-term structural growth drivers that will lead to

above-average future cash flow growth, attractive cash flow returns on invested capital, and management teams focused on creating long-term value for

shareholders. The Fund’s portfolio manager also aims to invest in companies when they trade at a significant discount to the estimate of intrinsic value (i.e.,

companies with share prices trading significantly below what the portfolio manager believes the share price should be).

The Fund will consider selling a portfolio investment when the portfolio manager believes an unfavorable structural change occurs within a given business or

the markets in which it operates, a critical underlying investment assumption is flawed, when a more attractive reward-to-risk opportunity becomes available,

when the current price fully reflects intrinsic value, or for other investment reasons which the portfolio manager deems appropriate.

The Fund may also invest up to 20% of its assets in foreign securities, including depositary receipts and emerging market securities. Although certain equity

securities purchased by the Fund may be issued by domestic companies incorporated outside of the United States, the Adviser does not consider these

securities to be foreign if they are included in the U.S. equity indices published by S&P Global Ratings or Russell Investments or if the security’s country of

risk defined by Bloomberg is the United States. The Fund may also engage in foreign currency transactions (including foreign currency forwards and foreign

currency futures) for hedging purposes, invest in options for hedging and investment purposes and invest in securities issued pursuant to Rule 144A under the

Securities Act of 1933 (“Rule 144A securities”). Except as provided above or as required by applicable law, the Fund is not limited in the percentage of its

assets that it may invest in these instruments.

Principal Investment Risks

The principal risks of investing in the Fund are summarized below. The Fund does not represent a complete investment program. You may lose money

by investing in the Fund. 

The significance of any specific risk to an investment in the Fund will vary over time, depending on the composition of the Fund’s portfolio, market conditions,

and other factors. You should read all of the risk information presented below carefully, because any one or more of these risks may result in losses to the

Fund.

The value of the Fund’s investments in equity securities could be subject to unpredictable declines in the value of individual

securities and periods of below-average performance in individual securities or in the equity market as a whole. Growth stocks are generally more sensitive

to market movements than other types of stocks primarily because their stock prices are based heavily on future expectations. If the Adviser’s assessment of

the prospects for a company’s growth is wrong, or if the Adviser’s judgment of how other investors will value the company’s growth is wrong, then the price

of the company’s stock may fall or not approach the value that the Adviser has placed on it. In the event an issuer is liquidated or declares bankruptcy, the

claims of owners of the issuer’s bonds generally take precedence over the claims of those who own preferred stock or common stock. 

The market value of the Fund’s investments will move up and down, sometimes rapidly and unpredictably, based upon overall market

and economic conditions, as well as a number of reasons that directly relate to the issuers of the Fund’s investments, such as management performance,

financial condition and demand for the issuers’ goods and services. 

22

Fund Summary

A strategy used by the Fund’s 

portfolio manager may fail to produce the intended result.

 

  Liquidity risk is the risk that the Fund may be unable to find a buyer for its investments when it seeks to sell them or to receive the price it

expects. Decreases in the number of financial institutions willing to make markets in the Fund’s investments or in their capacity or willingness to transact may

increase the Fund’s exposure to this risk. Events that may lead to increased redemptions, such as market disruptions or increases in interest rates, may also

negatively impact the liquidity of the Fund’s investments when it needs to dispose of them. If the Fund is forced to sell its investments at an unfavorable time

and/or under adverse conditions in order to meet redemption requests, such sales could negatively affect the Fund. Securities acquired in a private

placement, such as Rule 144A securities, are generally subject to significant liquidity risk because they are subject to strict restrictions on resale and there

may be no liquid secondary market or ready purchaser for such securities.

Derivatives, and particularly OTC derivatives, are generally subject to liquidity risk

as well. Liquidity issues may also make it difficult to value the Fund’s investments.

Investments in foreign securities may be subject to greater political, economic, environmental, credit/counterparty

and information

risks. The Fund’s investments in foreign securities also are subject to foreign currency fluctuations and other foreign currency-related risks. Foreign securities

may be subject to higher volatility than U.S. securities, varying degrees of regulation and limited liquidity.

In addition to the risks of investing in foreign investments generally, emerging markets investments are subject to greater risks

arising from political or economic instability, nationalization or confiscatory taxation, currency exchange restrictions, sanctions by other countries (such as the

United States) and an issuer’s unwillingness or inability to make principal or interest payments on its obligations. Emerging markets companies may be

smaller and have shorter operating histories than companies in developed markets.

Compared to large-capitalization companies, small- and mid-capitalization companies are more likely to

have limited product lines, markets or financial resources. Stocks of these companies often trade less frequently and in limited volume and their prices may

fluctuate more than stocks of large-capitalization companies. As a result, it may be relatively more difficult for the Fund to buy and sell securities of small-

and mid-capitalization companies.

Fluctuations in the exchange rates between different currencies may negatively affect an investment.

The Fund may be subject to currency

risk because it may invest in currency related instruments and may invest in securities or other instruments denominated in, or that generate income

denominated in, foreign currencies. The Fund may elect not to hedge currency risk, or may hedge such risk imperfectly, which may cause the Fund to incur

losses that would not have been incurred had the risk been hedged.

The Fund, its service providers, and other market participants increasingly depend on complex information

technology and communications systems, which are subject to a number of different threats and risks that could adversely affect the Fund and its

shareholders. Cybersecurity and other operational and technology issues may result in financial losses to the Fund and its shareholders.

Derivative instruments (such as those in which the Fund may invest, including foreign currency forwards, foreign currency futures and

options) are subject to changes in the value of the underlying assets or indices on which such instruments are based. There is no guarantee that the use of

derivatives will be effective or that suitable transactions will be available. Even a small investment in derivatives may give rise to leverage risk and can have

a significant impact on the Fund’s exposure to securities markets values, interest rates or currency exchange rates. It is possible that the Fund’s liquid assets

may be insufficient to support its obligations under its derivatives positions. The use of derivatives for other than hedging purposes may be considered a

speculative activity, and involves greater risks than are involved in hedging. The use of derivatives may cause the Fund to incur losses greater than those

that would have occurred had derivatives not been used. The Fund’s use of derivatives involves other risks, such as

foreign currency forwards, foreign

currency futures and options, involves other risks, such as the credit risk relating to the other party to a derivative contract (which is greater for forward

currency contracts and other OTC derivatives),the credit risk relating to the other party to a derivative contract (which is greater for forward currency

contracts, uncleared swaps and other OTC derivatives), the risk of difficulties in pricing and valuation, the risk that changes in the value of a derivative may

not correlate as expected with changes in the value of relevant assets, rates or indices; liquidity risk; allocation risk and the risk of losing more than the initial

margin (if any) required to initiate derivatives positions. There is also the risk that the Fund may be unable to terminate or sell a derivative position at an

advantageous time or price. The Fund’s derivative counterparties may experience financial difficulties or otherwise be unwilling or unable to honor their

obligations, possibly resulting in losses to the Fund.

Leverage is the risk associated with securities or investment practices (e.g., borrowing and use of certain derivatives) that multiply small

index, market or asset-price movements into larger changes in value. The use of leverage increases the impact of gains and losses on the Fund’s returns, and

may lead to significant losses if investments are not successful.

23

Fund Summary

Risk/Return Bar Chart and Table

The bar chart and table shown below provide some indication of the risks of investing in the Fund by showing changes in the Fund’s performance from year-

to-year and by showing how the Fund’s average annual returns for the one-year, five-year, ten-year and life-of-class periods (as applicable) compare to those

of a broad measure of market performance. The Fund’s past performance (before and after taxes) does not necessarily indicate how the Fund will perform in

the future. Updated performance information is available online at im.natixis.com and/or by calling the Fund toll-free at 800-225-5478.

The chart does not reflect any sales charge that you may be required to pay when you buy or redeem the Fund’s shares. A sales charge will reduce your

return.

The Fund did not have Class T shares outstanding during the periods shown above. The returns of Class T shares would have been substantially similar to the

returns of the Fund’s other share classes because they would have been invested in the same portfolio of securities and would only differ to the extent the

other share classes did not have the same expenses. Performance of Class T shares shown above is that of Class A shares, which have the same expenses as

Class T shares, restated to reflect the different sales load applicable to Class T shares. 

After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.

Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who

hold their shares through tax-advantaged arrangements, such as 401(k) plans, qualified plans, education savings accounts, such as 529 plans, or individual

retirement accounts. The after-tax returns are shown for only one class of the Fund. After-tax returns for the other classes of the Fund will vary. Index

performance reflects no deduction for fees, expenses or taxes.

24

Fund Summary

Management

Investment Adviser

Loomis, Sayles & Company, L.P. 

Portfolio Manager

Aziz V. Hamzaogullari, CFA

, Chief Investment Officer of the Growth Equity Strategies Team, Executive Vice President and Director at the Adviser, has served

as portfolio manager of the Fund since 2010.

Purchase and Sale of Fund Shares

In the best interest of current shareholders and in order to preserve the investment team’s ability to efficiently manage future cash flow, Loomis Sayles

Growth Fund is currently closed to new investors. Shares of the Fund are available for purchase only by defined contribution and defined benefit plans, by

existing shareholders and by clients of registered investment advisers and registered representatives trading through intermediaries where the Fund is

already available.

Class A and C Shares

The following chart shows the investment minimums for various types of accounts:

There is no initial or subsequent investment minimum for:

•

(such as wrap accounts) where an advisory fee is paid to the broker-dealer or other financial intermediary. Please consult your

financial representative to determine if your fee based program is subject to additional or different conditions or fees.

•

Please consult your retirement plan administrator to determine if your retirement plan is subject to additional or different

conditions or fees imposed by the plan administrator.

• Clients of a

where the Registered Investment Adviser receives an advisory, management or consulting fee.

Class N Shares

Class N shares of the Fund are subject to a $1,000,000 initial investment minimum. This minimum applies to Fee Based Programs and accounts (such as wrap

accounts) where an advisory fee is paid to the broker-dealer or other financial intermediary, accounts established via a transfer, or any other transaction in

which a new account is established. There is no subsequent investment minimum for these shares. There is no initial investment minimum for:

 

 

 

In its sole discretion, the Distributor may waive the investment minimum requirement for accounts as to which the Distributor reasonably believes will have

enough assets to exceed the investment minimum requirement within a relatively short period of time following the establishment date of such accounts in

Class N. If, after two years, an account’s value does not exceed the investment minimum requirement, the Distributor and the Fund reserve the right to

redeem such account.

Class T Shares

Class T shares of the Fund are not currently available for purchase.

Class T shares of the Fund may only be purchased by investors who are investing through an authorized third party, such as a broker-dealer or other financial

intermediary, that has entered into a selling agreement with Natixis Distribution, L.P. Investors may not hold Class T shares directly with the Fund. Class T

25

Fund Summary

shares are subject to a minimum initial investment of $2,500 and a minimum subsequent investment of $50.  Not all financial intermediaries make Class T

shares available to their clients.

Class Y Shares

Class Y shares of the Fund are generally subject to a minimum initial investment of $100,000 and a minimum subsequent investment of $50, except there is

no minimum initial or subsequent investment for:

•

(such as wrap accounts) where an advisory fee is paid to the broker-dealer or other financial intermediary. Please consult your

financial representative to determine if your fee based program is subject to additional or different conditions or fees.

•

Please consult your retirement plan administrator to determine if your retirement plan is subject to additional or different

conditions or fees imposed by the plan administrator.

•

if the amounts invested represent rollover distributions from investments by any of the retirement plans

invested in the Fund.

• Clients of a

where the Registered Investment Adviser receives an advisory, management or consulting fee.

•

former Fund trustees, employees of affiliates of the Natixis Funds and other individuals who are affiliated with any Natixis Fund (this also

applies to any spouse, parents, children, siblings, grandparents, grandchildren and in-laws of those mentioned) and Natixis affiliate employee benefit plans.

At the discretion of Natixis Advisors, L.P., clients of Natixis Advisors, L.P. and its affiliates may purchase Class Y shares of the Fund below the stated

minimums.

Due to operational limitations at your financial intermediary, certain fee based programs, retirement plans, individual retirement accounts and accounts of

registered investment advisers may be subject to the investment minimums described above.

The Fund’s shares are available for purchase and are redeemable on any business day through your investment dealer, directly from the Fund by writing to the

Fund at Natixis Funds, P.O. Box 219579, Kansas City, MO 64121-9579, by exchange, by wire, by internet at im.natixis.com (certain restrictions may apply),

through the Automated Clearing House system, or, in the case of redemptions, by telephone at 800-225-5478 or by the Systematic Withdrawal Plan. 

Tax Information

Fund distributions are generally taxable to you as ordinary income or capital gains, except for distributions to retirement plans and other investors that qualify

for tax-advantaged treatment under U.S. federal income tax law generally. Investments in such tax-advantaged plans will generally be taxed only upon

withdrawal of monies from the tax-advantaged arrangement.

Payments to Broker-Dealers and Other Financial Intermediaries

If you purchase shares of the Fund through a broker-dealer or other financial intermediary (such as a bank), the Fund and its related companies may pay the

intermediary for the sale of the Fund shares and related services. These payments may create a conflict of interest by influencing the broker-dealer or other

intermediary and your salesperson to recommend the Fund over another investment. Ask your salesperson or visit your financial intermediary’s website for

more information.

26

Fund Summary