|
Class
A |
Class
C |
Class
N |
Class
T* |
Class
Y |
Admin
Class |
Loomis
Sayles High Income Fund |
NEFHX |
NEHCX |
LSHNX |
NEHTX |
NEHYX |
|
Loomis
Sayles International Growth Fund |
LIGGX |
LIGCX |
LIGNX |
|
LIGYX |
|
Loomis
Sayles Investment Grade Bond Fund |
LIGRX |
LGBCX |
LGBNX |
LIGTX |
LSIIX |
LIGAX |
Loomis
Sayles Strategic Alpha Fund |
LABAX |
LABCX |
LASNX |
LSATX |
LASYX |
|
Loomis
Sayles Strategic Income Fund |
NEFZX |
NECZX |
NEZNX |
LSSTX |
NEZYX |
NEZAX |
Natixis
Oakmark Fund |
NEFOX |
NECOX |
NOANX |
NOKTX |
NEOYX |
|
Natixis
Oakmark International Fund |
NOIAX |
NOICX |
NIONX |
NIOTX |
NOIYX |
|
Natixis
U.S. Equity Opportunities Fund |
NEFSX |
NECCX |
NESNX |
NUSTX |
NESYX |
|
* | Class T shares of the Funds are not currently available for purchase. |
1 | |
8 | |
14 | |
21 | |
29 | |
36 | |
41 | |
47 | |
54 | |
54 | |
54 | |
55 | |
56 | |
57 | |
58 | |
58 | |
59 | |
60 | |
67 | |
68 | |
69 | |
70 | |
71 | |
74 | |
74 | |
76 | |
78 | |
78 | |
80 | |
80 | |
81 | |
82 | |
83 | |
84 | |
(fees
paid directly from your investment) |
Class A |
Class C |
Class N |
Class T |
Class Y |
Maximum
sales charge (load) imposed on purchases (as a percentage of offering
price) |
4.25%
|
None
|
None
|
2.50%
|
None
|
Maximum
deferred sales charge (load) (as a percentage of original purchase price
or redemption
proceeds, as applicable) |
None
* |
1.00%
|
None
|
None
|
None
|
Redemption
fees |
None
|
None
|
None
|
None
|
None
|
* | A 1.00% contingent deferred sales charge (“CDSC”) may apply to certain purchases of Class A shares of $1,000,000 or more that are redeemed within eighteen months of the date of purchase. |
(expenses
that you pay each year as a percentage of the value of your
investment) |
Class A |
Class C |
Class N |
Class T |
Class Y |
Management
fees |
0.60%
|
0.60%
|
0.60%
|
0.60%
|
0.60%
|
Distribution
and/or service (12b-1) fees |
0.25%
|
1.00%
|
0.00%
|
0.25%
|
0.00%
|
Other
expenses1 |
0.34%
|
0.34%
|
1.21%
|
0.34%
2 |
0.34%
|
Total
annual fund operating expenses |
1.19%
|
1.94%
|
1.81%
|
1.19%
|
0.94%
|
Fee
waiver and/or expense reimbursement3,4 |
0.18%
|
0.18%
|
1.10%
|
0.18%
|
0.18%
|
Total
annual fund operating expenses after fee waiver and/or expense
reimbursement |
1.01%
|
1.76%
|
0.71%
|
1.01%
|
0.76%
|
1 | The expense information shown in the table above includes acquired fund fees and expenses of less than 0.01%; the ratios differ from the expense information disclosed in the Fund’s financial highlights table because the financial highlights table reflects the operating expenses of the Fund and does not include acquired fund fees and expenses. |
2 | Other expenses for Class T shares are estimated for the current fiscal year. |
3 | Loomis, Sayles & Company, L.P. (“Loomis Sayles” or the “Adviser”) has given a binding contractual undertaking to the Fund to limit the amount of the Fund’s total annual fund operating expenses to 1.00%, 1.75%, 0.70%, 1.00% and 0.75% of the Fund’s average daily net assets for Class A, C, N, T and Y shares, respectively, exclusive of brokerage expenses, interest expense, taxes, acquired fund fees and expenses, organizational and extraordinary expenses, such as litigation and indemnification expenses. This undertaking is in effect through April 30, 2024 and may be terminated before then only with the consent of the Fund’s Board of Trustees. The Adviser will be permitted to recover, on a class by class basis, management fees waived and/or expenses reimbursed to the extent that expenses in later periods fall below both (1) the class’ applicable expense limitation at the time such amounts were waived/reimbursed and (2) the class’ current applicable expense limitation. The Fund will not be obligated to repay any such waived/reimbursed fees and expenses more than one year after the end of the fiscal year in which the fees or expenses were waived/reimbursed. |
4 | Natixis Advisors, LLC (“Natixis Advisors”) has given a binding contractual undertaking to the Fund to reimburse any and all transfer agency expenses for Class N shares. This undertaking is in effect through April 30, 2024 and may be terminated before then only with the consent of the Fund’s Board of Trustees. |
If shares are redeemed: |
1 year |
3 years |
5 years |
10 years | ||||
Class
A |
$ |
524
|
$ |
770
|
$ |
1,035
|
$ |
1,792
|
Class
C |
$ |
279
|
$ |
592
|
$ |
1,030
|
$ |
2,055
|
Class
N |
$ |
73
|
$ |
462
|
$ |
877
|
$ |
2,036
|
Class
T |
$ |
350
|
$ |
601
|
$ |
871
|
$ |
1,642
|
Class
Y |
$ |
78
|
$ |
282
|
$ |
502
|
$ |
1,138
|
If shares are not
redeemed: |
1 year |
3 years |
5 years |
10 years | ||||
Class
C |
$ |
179
|
$ |
592
|
$ |
1,030
|
$ |
2,055
|
![]() |
Highest
Quarterly Return: Second Quarter 2020, 11.39% Lowest Quarterly Return: First Quarter 2020, -14.16% |
Average Annual Total
Returns |
|
|
|
|
(for
the periods ended December 31, 2022) |
Past 1 Year |
Past 5 Years |
Past 10 Years |
Life of Class N (11/30/16) |
Class
Y - Return Before Taxes |
-13.47%
|
1.01%
|
3.03%
|
-
|
Return
After Taxes on Distributions |
-15.53%
|
-1.11%
|
0.67%
|
-
|
Average Annual Total
Returns |
|
|
|
|
(for
the periods ended December 31, 2022) |
Past 1 Year |
Past 5 Years |
Past 10 Years |
Life of Class N (11/30/16) |
Return
After Taxes on Distributions and Sale of Fund Shares |
-7.94%
|
-0.05%
|
1.36%
|
-
|
Class
A - Return Before Taxes |
-17.32%
|
-0.11%
|
2.31%
|
|
Class
C - Return Before Taxes |
-15.31%
|
-0.07%
|
2.15%
|
-
|
Class
N - Return Before Taxes |
-13.40%
|
1.06%
|
-
|
2.40%
|
Class
T - Return Before Taxes |
-15.82%
|
0.25%
|
2.50%
|
-
|
Bloomberg
U.S. Corporate High-Yield Bond Index |
-11.19%
|
2.31%
|
4.03%
|
3.41%
|
Type of Account |
Minimum Initial Purchase |
Minimum Subsequent Purchase | ||
Any
account other than those listed below |
$ |
2,500
|
$ |
50
|
For
shareholders participating in Natixis Funds’ Investment Builder
Program |
$ |
1,000
|
$ |
50
|
For
Traditional IRA, Roth IRA, Rollover IRA, SEP-IRA and Keogh plans using the
Natixis Funds’ prototype document (direct accounts,
not held through intermediary) |
$ |
1,000
|
$ |
50
|
Coverdell
Education Savings Accounts using the Natixis Funds’ prototype document
(direct accounts, not held through intermediary) |
$ |
500
|
$ |
50
|
• | Fee Based Programs (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. |
• | Certain Retirement Plans. 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 Registered Investment Adviser where the Registered Investment Adviser receives an advisory, management or consulting fee. |
• | Certain Retirement Plans. 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. |
• | Sub-accounts held within an omnibus account, where the omnibus account has at least $1,000,000. |
• | Funds of funds that are distributed by the Distributor. |
• | Fee Based Programs (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. |
• | Certain Retirement Plans. 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. |
• | Certain Individual Retirement Accounts if the amounts invested represent rollover distributions from investments by any of the retirement plans invested in the Fund. |
• | Clients of a Registered Investment Adviser where the Registered Investment Adviser receives an advisory, management or consulting fee. |
• | Fund Trustees, 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. |
(fees
paid directly from your investment) |
Class A |
Class C |
Class N |
Class Y |
Maximum
sales charge (load) imposed on purchases (as a percentage of offering
price) |
5.75%
|
None
|
None
|
None
|
Maximum
deferred sales charge (load) (as a percentage of original purchase price
or redemption proceeds, as applicable) |
None
* |
1.00%
|
None
|
None
|
Redemption
fees |
None
|
None
|
None
|
None
|
* | A 1.00% contingent deferred sales charge (“CDSC”) may apply to certain purchases of Class A shares of $1,000,000 or more that are redeemed within eighteen months of the date of purchase. |
(expenses
that you pay each year as a percentage of the value of your
investment) |
Class A |
Class C |
Class N |
Class Y |
Management
fees |
0.75%
|
0.75%
|
0.75%
|
0.75%
|
Distribution
and/or service (12b-1) fees |
0.25%
|
1.00%
|
0.00%
|
0.00%
|
Other
expenses |
1.05%
|
1.04%
|
0.92%
|
1.05%
|
Total
annual fund operating expenses |
2.05%
|
2.79%
|
1.67%
|
1.80%
|
Fee
waiver and/or expense reimbursement1,2 |
0.85%
|
0.84%
|
0.77%
|
0.85%
|
Total
annual fund operating expenses after fee waiver and/or expense
reimbursement |
1.20%
|
1.95%
|
0.90%
|
0.95%
|
1 | Loomis, Sayles & Company, L.P. (“Loomis Sayles” or the “Adviser”) has given a binding contractual undertaking to the Fund to limit the amount of the Fund’s total annual fund operating expenses to 1.20%, 1.95%, 0.90% and 0.95% of the Fund’s average daily net assets for Class A, C, N and Y shares, respectively, exclusive of brokerage expenses, interest expense, taxes, acquired fund fees and expenses, organizational and extraordinary expenses, such as litigation and indemnification expenses. This undertaking is in effect through April 30, 2024 and may be terminated before then only with the consent of the Fund’s Board of Trustees. The Adviser will be permitted to recover, on a class by class basis, management fees waived and/or expenses reimbursed to the extent that expenses in later periods fall below both (1) the class’ applicable expense limitation at the time such amounts were waived/reimbursed and (2) the class’ current applicable expense limitation. The Fund will not be obligated to repay any such waived/reimbursed fees and expenses more than one year after the end of the fiscal year in which the fees or expenses were waived/reimbursed. |
2 | Natixis Advisors, LLC (“Natixis Advisors”) has given a binding contractual undertaking to the Fund to reimburse any and all transfer agency expenses for Class N shares. This undertaking is in effect through April 30, 2024 and may be terminated before then only with the consent of the Fund’s Board of Trustees. |
If shares are redeemed: |
1 year |
3 years |
5 years |
10 years | ||||
Class
A |
$ |
690
|
$ |
1,103
|
$ |
1,541
|
$ |
2,753
|
Class
C |
$ |
298
|
$ |
786
|
$ |
1,400
|
$ |
2,880
|
If shares are redeemed: |
1 year |
3 years |
5 years |
10 years | ||||
Class
N |
$ |
92
|
$ |
451
|
$ |
835
|
$ |
1,911
|
Class
Y |
$ |
97
|
$ |
483
|
$ |
895
|
$ |
2,046
|
If shares are not
redeemed: |
1 year |
3 years |
5 years |
10 years | ||||
Class
C |
$ |
198
|
$ |
786
|
$ |
1,400
|
$ |
2,880
|
![]() |
Highest
Quarterly Return: Fourth Quarter 2022, 10.85% Lowest Quarterly Return: Second Quarter 2022, -13.00% |
Average Annual Total
Returns |
|
|
(for
the periods ended December 31, 2022) |
Past 1 Year |
Life of Fund (12/15/20) |
Class
Y - Return Before Taxes |
-17.50%
|
-10.09%
|
Return
After Taxes on Distributions |
-17.56%
|
-10.32%
|
Return
After Taxes on Distributions and Sale of Fund Shares |
-10.19%
|
-7.53%
|
Class
A - Return Before Taxes |
-22.41%
|
-12.89%
|
Average Annual Total
Returns |
|
|
(for
the periods ended December 31, 2022) |
Past 1 Year |
Life of Fund (12/15/20) |
Class
C - Return Before Taxes |
-19.11%
|
-10.99%
|
Class
N - Return Before Taxes |
-17.47%
|
-10.06%
|
MSCI
All Country World ex USA Index (Net) |
-16.00%
|
-3.61%
|
Type of Account |
Minimum Initial Purchase |
Minimum Subsequent Purchase | ||
Any
account other than those listed below |
$ |
2,500
|
$ |
50
|
For
shareholders participating in Natixis Funds’ Investment Builder
Program |
$ |
1,000
|
$ |
50
|
For
Traditional IRA, Roth IRA, Rollover IRA, SEP-IRA and Keogh plans using the
Natixis Funds’ prototype document (direct accounts,
not held through intermediary) |
$ |
1,000
|
$ |
50
|
Coverdell
Education Savings Accounts using the Natixis Funds’ prototype document
(direct accounts, not held through intermediary) |
$ |
500
|
$ |
50
|
• | Fee Based Programs (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. |
• | Certain Retirement Plans. 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 Registered Investment Adviser where the Registered Investment Adviser receives an advisory, management or consulting fee. |
• | Certain Retirement Plans. 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. |
• | Sub-accounts held within an omnibus account, where the omnibus account has at least $1,000,000. |
• | Funds of funds that are distributed by the Distributor. |
• | Fee Based Programs (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. |
• | Certain Retirement Plans. 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. |
• | Certain Individual Retirement Accounts if the amounts invested represent rollover distributions from investments by any of the retirement plans invested in the Fund. |
• | Clients of a Registered Investment Adviser where the Registered Investment Adviser receives an advisory, management or consulting fee. |
• | Fund Trustees, 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. |
(fees
paid directly from your investment) |
Class A |
Class C |
Class N |
Class T |
Class Y |
Admin Class |
Maximum
sales charge (load) imposed on purchases (as a percentage of offering
price) |
4.25%
|
None
|
None
|
2.50%
|
None
|
None
|
Maximum
deferred sales charge (load) (as a percentage of original purchase
price
or redemption proceeds, as applicable) |
None
* |
1.00%
|
None
|
None
|
None
|
None
|
Redemption
fees |
None
|
None
|
None
|
None
|
None
|
None
|
* | A 1.00% contingent deferred sales charge (“CDSC”) may apply to certain purchases of Class A shares of $1,000,000 or more that are redeemed within eighteen months of the date of purchase. |
(expenses
that you pay each year as a percentage of the value of your
investment) |
Class A |
Class C |
Class N |
Class T |
Class Y |
Admin Class |
Management
fees |
0.40%
|
0.40%
|
0.40%
|
0.40%
|
0.40%
|
0.40%
|
Distribution
and/or service (12b-1) fees |
0.25%
|
1.00%
|
0.00%
|
0.25%
|
0.00%
|
0.25%
|
Other
expenses |
0.15%
|
0.15%
|
0.07%
|
0.15%
1 |
0.15%
|
0.40%
2 |
Total
annual fund operating expenses |
0.80%
|
1.55%
|
0.47%
|
0.80%
|
0.55%
|
1.05%
|
Fee
waiver and/or expense reimbursement3 |
0.06%
|
0.06%
|
0.03%
|
0.06%
|
0.06%
|
0.06%
|
Total
annual fund operating expenses after fee waiver and/or expense
reimbursement |
0.74%
|
1.49%
|
0.44%
|
0.74%
|
0.49%
|
0.99%
|
1 | Other expenses for Class T shares are estimated for the current fiscal year. |
2 | Other expenses include an administrative services fee of 0.25% for Admin Class shares. |
3 | Loomis, Sayles & Company, L.P. (“Loomis Sayles” or the “Adviser”) has given a binding contractual undertaking to the Fund to limit the amount of the Fund’s total annual fund operating expenses to 0.74%, 1.49%, 0.44%, 0.74%, 0.49% and 0.99% of the Fund’s average daily net assets for Class A, C, N, T, Y and Admin Class shares, respectively, exclusive of brokerage expenses, interest expense, taxes, acquired fund fees and expenses, organizational and extraordinary expenses, such as litigation and indemnification expenses. This undertaking is in effect through April 30, 2024 and may be terminated before then only with the consent of the Fund’s Board of Trustees. The Adviser will be permitted to recover, on a class by class basis, management fees waived and/or expenses reimbursed to the extent that expenses in later periods fall below both (1) the class’ applicable expense limitation at the time such amounts were waived/reimbursed and (2) the class’ current applicable expense limitation. The Fund will not be obligated to repay any such waived/reimbursed fees and expenses more than one year after the end of the fiscal year in which the fees or expenses were waived/reimbursed. |
If shares are redeemed: |
1 year |
3 years |
5 years |
10 years | ||||
Class
A |
$ |
497
|
$ |
664
|
$ |
845
|
$ |
1,367
|
If shares are redeemed: |
1 year |
3 years |
5 years |
10 years | ||||
Class
C |
$ |
252
|
$ |
484
|
$ |
839
|
$ |
1,638
|
Class
N |
$ |
45
|
$ |
148
|
$ |
260
|
$ |
589
|
Class
T |
$ |
324
|
$ |
493
|
$ |
677
|
$ |
1,210
|
Class
Y |
$ |
50
|
$ |
170
|
$ |
301
|
$ |
684
|
Admin
Class |
$ |
101
|
$ |
328
|
$ |
574
|
$ |
1,277
|
If shares are not
redeemed: |
1 year |
3 years |
5 years |
10 years | ||||
Class
C |
$ |
152
|
$ |
484
|
$ |
839
|
$ |
1,638
|
![]() |
Highest
Quarterly Return: Second Quarter 2020, 8.60% Lowest Quarterly Return: Second Quarter 2022, -5.35% |
Average Annual Total
Returns |
|
|
|
|
(for
the periods ended December 31, 2022) |
Past 1 Year |
Past 5 Years |
Past 10 Years |
Life of Class N (2/1/13) |
Class
Y - Return Before Taxes |
-11.31%
|
1.54%
|
2.14%
|
-
|
Return
After Taxes on Distributions |
-12.42%
|
-0.04%
|
0.38%
|
-
|
Return
After Taxes on Distributions and Sale of Fund Shares |
-6.65%
|
0.66%
|
1.02%
|
-
|
Class
A - Return Before Taxes |
-15.39%
|
0.39%
|
1.44%
|
-
|
Class
C - Return Before Taxes |
-13.12%
|
0.52%
|
1.27%
|
-
|
Class
N - Return Before Taxes |
-11.26%
|
1.59%
|
-
|
2.17%
|
Average Annual Total
Returns |
|
|
|
|
(for
the periods ended December 31, 2022) |
Past 1 Year |
Past 5 Years |
Past 10 Years |
Life of Class N (2/1/13) |
Class
T - Return Before Taxes |
-13.85%
|
0.76%
|
1.62%
|
-
|
Admin
Class - Return Before Taxes |
-11.80%
|
1.03%
|
1.64%
|
-
|
Bloomberg
U.S. Government/Credit Bond Index |
-13.58%
|
0.21%
|
1.16%
|
1.26%
|
Bloomberg
U.S. Aggregate Bond Index |
-13.01%
|
0.02%
|
1.06%
|
1.14%
|
Type of Account |
Minimum Initial Purchase |
Minimum Subsequent Purchase | ||
Any
account other than those listed below |
$ |
2,500
|
$ |
50
|
For
shareholders participating in Natixis Funds’ Investment Builder
Program |
$ |
1,000
|
$ |
50
|
For
Traditional IRA, Roth IRA, Rollover IRA, SEP-IRA and Keogh plans using the
Natixis Funds’ prototype document (direct accounts,
not held through intermediary) |
$ |
1,000
|
$ |
50
|
Coverdell
Education Savings Accounts using the Natixis Funds’ prototype document
(direct accounts, not held through intermediary) |
$ |
500
|
$ |
50
|
• | Fee Based Programs (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. |
• | Certain Retirement Plans. 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 Registered Investment Adviser where the Registered Investment Adviser receives an advisory, management or consulting fee. |
• | Certain Retirement Plans. 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. |
• | Sub-accounts held within an omnibus account, where the omnibus account has at least $1,000,000. |
• | Funds of funds that are distributed by the Distributor. |
• | Fee Based Programs (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. |
• | Certain Retirement Plans. 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. |
• | Certain Individual Retirement Accounts if the amounts invested represent rollover distributions from investments by any of the retirement plans invested in the Fund. |
• | Clients of a Registered Investment Adviser where the Registered Investment Adviser receives an advisory, management or consulting fee. |
• | Fund Trustees, 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. |
|
Class A |
Class C |
Class N |
Class T |
Class Y |
Maximum
sales charge (load) imposed on purchases (as a percentage of offering
price) |
|
|
|
|
|
Maximum
deferred sales charge (load) (as a percentage of original purchase price
or redemption
proceeds, as applicable) |
* |
|
|
|
|
Redemption
fees |
|
|
|
|
|
* |
|
Class A |
Class C |
Class N |
Class T |
Class Y |
Management
fees |
|
|
|
|
|
Distribution
and/or service (12b-1) fees |
|
|
|
|
|
Other
expenses1 |
|
|
|
2 |
|
Total
annual fund operating expenses |
|
|
|
|
|
Fee
waiver and/or expense reimbursement3 |
|
|
|
|
|
Total
annual fund operating expenses after fee waiver and/or expense
reimbursement |
|
|
|
|
|
1 |
2 |
3 |
|
1 year |
3 years |
5 years |
10 years | ||||
Class
A |
$ |
|
$ |
|
$ |
|
$ |
|
Class
C |
$ |
|
$ |
|
$ |
|
$ |
|
Class
N |
$ |
|
$ |
|
$ |
|
$ |
|
If shares are redeemed: |
1 year |
3 years |
5 years |
10 years | ||||
Class
T |
$ |
|
$ |
|
$ |
|
$ |
|
Class
Y |
$ |
|
$ |
|
$ |
|
$ |
|
|
1 year |
3 years |
5 years |
10 years | ||||
Class
C |
$ |
|
$ |
|
$ |
|
$ |
|
![]() |
|
Average Annual Total
Returns |
|
|
|
|
|
Past 1 Year |
Past 5 Years |
Past 10 Years |
Life of Class N ( |
Class
Y - Return Before Taxes |
-
|
|
|
|
Return
After Taxes on Distributions |
-
|
|
|
|
Return
After Taxes on Distributions and Sale of Fund Shares |
-
|
|
|
|
Class
A - Return Before Taxes |
-
|
|
|
|
Class
C - Return Before Taxes |
-
|
|
|
|
Class
N - Return Before Taxes |
-
|
|
|
|
Class
T - Return Before Taxes |
-
|
|
|
|
ICE
Bank of America U.S. 3-Month Treasury Bill Index |
|
|
|
|
ICE
Bank of America U.S. 3-Month Treasury Bill Index +300 basis
points |
|
|
|
|
Type of Account |
Minimum Initial Purchase |
Minimum Subsequent Purchase | ||
Any
account other than those listed below |
$ |
2,500
|
$ |
50
|
For
shareholders participating in Natixis Funds’ Investment Builder
Program |
$ |
1,000
|
$ |
50
|
For
Traditional IRA, Roth IRA, Rollover IRA, SEP-IRA and Keogh plans using the
Natixis Funds’ prototype document (direct accounts,
not held through intermediary) |
$ |
1,000
|
$ |
50
|
Coverdell
Education Savings Accounts using the Natixis Funds’ prototype document
(direct accounts, not held through intermediary) |
$ |
500
|
$ |
50
|
• | Fee Based Programs (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. |
• | Certain Retirement Plans. 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 Registered Investment Adviser where the Registered Investment Adviser receives an advisory, management or consulting fee. |
• | Certain Retirement Plans. 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. |
• | Sub-accounts held within an omnibus account, where the omnibus account has at least $1,000,000. |
• | Funds of funds that are distributed by the Distributor. |
• | Fee Based Programs (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. |
• | Certain Retirement Plans. 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. |
• | Certain Individual Retirement Accounts if the amounts invested represent rollover distributions from investments by any of the retirement plans invested in the Fund. |
• | Clients of a Registered Investment Adviser where the Registered Investment Adviser receives an advisory, management or consulting fee. |
• | Fund Trustees, 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. |
(fees
paid directly from your investment) |
Class A |
Class C |
Class N |
Class T |
Class Y |
Admin Class |
Maximum
sales charge (load) imposed on purchases (as a percentage of offering
price) |
4.25%
|
None
|
None
|
2.50%
|
None
|
None
|
Maximum
deferred sales charge (load) (as a percentage of original purchase
price
or redemption proceeds, as applicable) |
None
* |
1.00%
|
None
|
None
|
None
|
None
|
Redemption
fees |
None
|
None
|
None
|
None
|
None
|
None
|
* | A 1.00% contingent deferred sales charge (“CDSC”) may apply to certain purchases of Class A shares of $1,000,000 or more that are redeemed within eighteen months of the date of purchase. |
(expenses
that you pay each year as a percentage of the value of your
investment) |
Class A |
Class C |
Class N |
Class T |
Class Y |
Admin Class |
Management
fees |
0.58%
|
0.58%
|
0.58%
|
0.58%
|
0.58%
|
0.58%
|
Distribution
and/or service (12b-1) fees |
0.25%
|
1.00%
|
0.00%
|
0.25%
|
0.00%
|
0.25%
|
Other
expenses1 |
0.15%
|
0.15%
|
0.06%
|
0.15%
2 |
0.15%
|
0.40%
3 |
Total
annual fund operating expenses |
0.98%
|
1.73%
|
0.64%
|
0.98%
|
0.73%
|
1.23%
|
Fee
waiver and/or expense reimbursement4 |
0.04%
|
0.04%
|
0.00%
|
0.04%
|
0.04%
|
0.04%
|
Total
annual fund operating expenses after fee waiver and/or expense
reimbursement |
0.94%
|
1.69%
|
0.64%
|
0.94%
|
0.69%
|
1.19%
|
1 | Other expenses include acquired fund fees and expenses of less than 0.01%. |
2 | Other expenses for Class T shares are estimated for the current fiscal year. |
3 | Other expenses include an administrative services fee of 0.25% for Admin Class shares. |
4 | Loomis, Sayles & Company, L.P. (“Loomis Sayles” or the “Adviser”) has given a binding contractual undertaking to the Fund to limit the amount of the Fund’s total annual fund operating expenses to 0.94%, 1.69%, 0.64%, 0.94%, 0.69% and 1.19% of the Fund’s average daily net assets for Class A, C, N, T, Y and Admin Class shares, respectively, exclusive of brokerage expenses, interest expense, taxes, acquired fund fees and expenses, organizational and extraordinary expenses, such as litigation and indemnification expenses. This undertaking is in effect through April 30, 2024 and may be terminated before then only with the consent of the Fund’s Board of Trustees. The Adviser will be permitted to recover, on a class by class basis, management fees waived and/or expenses reimbursed to the extent that expenses in later periods fall below both (1) the class’ applicable expense limitation at the time such amounts were waived/reimbursed and (2) the class’ current applicable expense limitation. The Fund will not be obligated to repay any such waived/reimbursed fees and expenses more than one year after the end of the fiscal year in which the fees or expenses were waived/reimbursed. |
If shares are redeemed: |
1 year |
3 years |
5 years |
10 years | ||||
Class
A |
$ |
517
|
$ |
720
|
$ |
940
|
$ |
1,572
|
Class
C |
$ |
272
|
$ |
541
|
$ |
935
|
$ |
1,839
|
Class
N |
$ |
65
|
$ |
205
|
$ |
357
|
$ |
798
|
Class
T |
$ |
344
|
$ |
550
|
$ |
774
|
$ |
1,418
|
Class
Y |
$ |
70
|
$ |
229
|
$ |
402
|
$ |
903
|
Admin
Class |
$ |
121
|
$ |
386
|
$ |
672
|
$ |
1,485
|
If shares are not
redeemed: |
1 year |
3 years |
5 years |
10 years | ||||
Class
C |
$ |
172
|
$ |
541
|
$ |
935
|
$ |
1,839
|
![]() |
Highest
Quarterly Return:
Second
Quarter 2020, 6.42% Lowest Quarterly Return: First Quarter 2020, -12.29% |
Average Annual Total
Returns |
|
|
|
|
(for
the periods ended December 31, 2022) |
Past 1 Year |
Past 5 Years |
Past 10 Years |
Life of Class N (2/1/13) |
Class
Y - Return Before Taxes |
-12.60%
|
-0.06%
|
2.40%
|
-
|
Return
After Taxes on Distributions |
-14.77%
|
-1.71%
|
0.51%
|
-
|
Return
After Taxes on Distributions and Sale of Fund Shares |
-7.40%
|
-0.62%
|
1.20%
|
-
|
Class
A - Return Before Taxes |
-16.51%
|
-1.18%
|
1.70%
|
-
|
Class
C - Return Before Taxes |
-14.30%
|
-1.05%
|
1.53%
|
-
|
Class
N - Return Before Taxes |
-12.55%
|
0.02%
|
-
|
2.25%
|
Class
T - Return Before Taxes |
-14.96%
|
-0.81%
|
1.89%
|
-
|
Admin
Class - Return Before Taxes |
-13.07%
|
-0.55%
|
1.90%
|
-
|
Bloomberg
U.S. Aggregate Bond Index |
-13.01%
|
0.02%
|
1.06%
|
1.14%
|
Bloomberg
U.S. Universal Bond Index |
-12.99%
|
0.18%
|
1.33%
|
1.40%
|
Type of Account |
Minimum Initial Purchase |
Minimum Subsequent Purchase | ||
Any
account other than those listed below |
$ |
2,500
|
$ |
50
|
For
shareholders participating in Natixis Funds’ Investment Builder
Program |
$ |
1,000
|
$ |
50
|
For
Traditional IRA, Roth IRA, Rollover IRA, SEP-IRA and Keogh plans using the
Natixis Funds’ prototype document (direct accounts,
not held through intermediary) |
$ |
1,000
|
$ |
50
|
Coverdell
Education Savings Accounts using the Natixis Funds’ prototype document
(direct accounts, not held through intermediary) |
$ |
500
|
$ |
50
|
• | Fee Based Programs (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. |
• | Certain Retirement Plans. 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 Registered Investment Adviser where the Registered Investment Adviser receives an advisory, management or consulting fee. |
• | Certain Retirement Plans. 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. |
• | Sub-accounts held within an omnibus account, where the omnibus account has at least $1,000,000. |
• | Funds of funds that are distributed by the Distributor. |
• | Fee Based Programs (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. |
• | Certain Retirement Plans. 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. |
• | Certain Individual Retirement Accounts if the amounts invested represent rollover distributions from investments by any of the retirement plans invested in the Fund. |
• | Clients of a Registered Investment Adviser where the Registered Investment Adviser receives an advisory, management or consulting fee. |
• | Fund Trustees, 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. |
|
Class A |
Class C |
Class N |
Class T |
Class Y |
Maximum
sales charge (load) imposed on purchases (as a percentage of offering
price) |
|
|
|
|
|
Maximum
deferred sales charge (load) (as a percentage of original purchase price
or redemption
proceeds, as applicable) |
* |
|
|
|
|
Redemption
fees |
|
|
|
|
|
* |
|
Class A |
Class C |
Class N |
Class T |
Class Y |
Management
fees |
|
|
|
|
|
Distribution
and/or service (12b-1) fees |
|
|
|
|
|
Other
expenses |
|
|
|
1 |
|
Total
annual fund operating expenses |
|
|
|
|
|
Fee
waiver and/or expense reimbursement2,3 |
|
|
|
|
|
Total
annual fund operating expenses after fee waiver and/or expense
reimbursement |
|
|
|
|
|
1 |
2 |
3 |
|
1 year |
3 years |
5 years |
10 years | ||||
Class
A |
$ |
|
$ |
|
$ |
|
$ |
|
Class
C |
$ |
|
$ |
|
$ |
|
$ |
|
If shares are redeemed: |
1 year |
3 years |
5 years |
10 years | ||||
Class
N |
$ |
|
$ |
|
$ |
|
$ |
|
Class
T |
$ |
|
$ |
|
$ |
|
$ |
|
Class
Y |
$ |
|
$ |
|
$ |
|
$ |
|
|
1 year |
3 years |
5 years |
10 years | ||||
Class
C |
$ |
|
$ |
|
$ |
|
$ |
|
![]() |
|
Average Annual Total
Returns |
|
|
|
|
|
Past 1 Year |
Past 5 Years |
Past 10 Years |
Life of Class N ( |
Class
Y - Return Before Taxes |
-
|
|
|
|
Return
After Taxes on Distributions |
-
|
|
|
|
Return
After Taxes on Distributions and Sale of Fund Shares |
-
|
|
|
|
Class
A - Return Before Taxes |
-
|
|
|
|
Class
C - Return Before Taxes |
-
|
|
|
|
Class
N - Return Before Taxes |
-
|
|
|
|
Class
T - Return Before Taxes |
-
|
|
|
|
S&P
500®
Index |
-
|
|
|
|
Type of Account |
Minimum Initial Purchase |
Minimum Subsequent Purchase | ||
Any
account other than those listed below |
$ |
2,500
|
$ |
50
|
For
shareholders participating in Natixis Funds’ Investment Builder
Program |
$ |
1,000
|
$ |
50
|
For
Traditional IRA, Roth IRA, Rollover IRA, SEP-IRA and Keogh plans using the
Natixis Funds’ prototype document (direct accounts,
not held through intermediary) |
$ |
1,000
|
$ |
50
|
Coverdell
Education Savings Accounts using the Natixis Funds’ prototype document
(direct accounts, not held through intermediary) |
$ |
500
|
$ |
50
|
• | Fee Based Programs (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. |
• | Certain Retirement Plans. 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 Registered Investment Adviser where the Registered Investment Adviser receives an advisory, management or consulting fee. |
• | Certain Retirement Plans. 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. |
• | Sub-accounts held within an omnibus account, where the omnibus account has at least $1,000,000. |
• | Funds of funds that are distributed by the Distributor. |
• | Fee Based Programs (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. |
• | Certain Retirement Plans. 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. |
• | Certain Individual Retirement Accounts if the amounts invested represent rollover distributions from investments by any of the retirement plans invested in the Fund. |
• | Clients of a Registered Investment Adviser where the Registered Investment Adviser receives an advisory, management or consulting fee. |
• | Fund Trustees, 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. |
(fees
paid directly from your investment) |
Class A |
Class C |
Class N |
Class T |
Class Y |
Maximum
sales charge (load) imposed on purchases (as a percentage of offering
price) |
5.75%
|
None
|
None
|
2.50%
|
None
|
Maximum
deferred sales charge (load) (as a percentage of original purchase price
or redemption
proceeds, as applicable) |
None
* |
1.00%
|
None
|
None
|
None
|
Redemption
fees |
None
|
None
|
None
|
None
|
None
|
* | A 1.00% contingent deferred sales charge (“CDSC”) may apply to certain purchases of Class A shares of $1,000,000 or more that are redeemed within eighteen months of the date of purchase. |
(expenses
that you pay each year as a percentage of the value of your
investment) |
Class A |
Class C |
Class N |
Class T |
Class Y |
Management
fees |
0.79%
|
0.79%
|
0.79%
|
0.79%
|
0.79%
|
Distribution
and/or service (12b-1) fees |
0.25%
|
1.00%
|
0.00%
|
0.25%
|
0.00%
|
Other
expenses1 |
0.34%
|
0.34%
|
0.23%
|
0.34%
2 |
0.34%
|
Total
annual fund operating expenses |
1.38%
|
2.13%
|
1.02%
|
1.38%
|
1.13%
|
Fee
waiver and/or expense reimbursement3,4 |
0.23%
|
0.23%
|
0.17%
|
0.23%
|
0.23%
|
Total
annual fund operating expenses after fee waiver and/or expense
reimbursement |
1.15%
|
1.90%
|
0.85%
|
1.15%
|
0.90%
|
1 | Other expenses include acquired fund fees and expenses of less than 0.01%. |
2 | Other expenses for Class T shares are estimated for the current fiscal year. |
3 | Natixis Advisors, LLC (“Natixis Advisors”) has given a binding contractual undertaking to the Fund to limit the amount of the Fund’s total annual fund operating expenses to 1.15%, 1.90%, 0.85%, 1.15% and 0.90% of the Fund’s average daily net assets for Class A, C, N, T and Y shares, respectively, exclusive of brokerage expenses, interest expense, taxes, acquired fund fees and expenses, organizational and extraordinary expenses, such as litigation and indemnification expenses. This undertaking is in effect through April 30, 2024 and may be terminated before then only with the consent of the Fund’s Board of Trustees. The Adviser will be permitted to recover, on a class by class basis, management fees waived and/or expenses reimbursed to the extent that expenses in later periods fall below both (1) the class’ applicable expense limitation at the time such amounts were waived/reimbursed and (2) the class’ current applicable expense limitation. The Fund will not be obligated to repay any such waived/reimbursed fees and expenses more than one year after the end of the fiscal year in which the fees or expenses were waived/reimbursed. |
4 | Natixis Advisors has given a binding contractual undertaking to the Fund to reimburse any and all transfer agency expenses for Class N shares. This undertaking is in effect through April 30, 2024 and may be terminated before then only with the consent of the Fund’s Board of Trustees. |
If shares are redeemed: |
1 year |
3 years |
5 years |
10 years | ||||
Class
A |
$ |
685
|
$ |
965
|
$ |
1,266
|
$ |
2,118
|
Class
C |
$ |
293
|
$ |
645
|
$ |
1,123
|
$ |
2,253
|
Class
N |
$ |
87
|
$ |
308
|
$ |
547
|
$ |
1,232
|
Class
T |
$ |
364
|
$ |
654
|
$ |
965
|
$ |
1,846
|
Class
Y |
$ |
92
|
$ |
336
|
$ |
600
|
$ |
1,354
|
If shares are not
redeemed: |
1 year |
3 years |
5 years |
10 years | ||||
Class
C |
$ |
193
|
$ |
645
|
$ |
1,123
|
$ |
2,253
|
![]() |
Highest
Quarterly Return: Fourth Quarter 2020, 31.94% Lowest Quarterly Return: First Quarter 2020, -38.74% |
Average Annual Total
Returns |
|
|
|
|
(for
the periods ended December 31, 2022) |
Past 1 Year |
Past 5 Years |
Past 10 Years |
Life of Class N (5/1/17) |
Class
A - Return Before Taxes |
-20.72%
|
-3.29%
|
3.05%
|
-
|
Return
After Taxes on Distributions |
-20.87%
|
-3.57%
|
2.71%
|
-
|
Return
After Taxes on Distributions and Sale of Fund Shares |
-11.85%
|
-2.26%
|
2.56%
|
-
|
Class
C - Return Before Taxes |
-17.32%
|
-2.87%
|
3.04%
|
-
|
Class
N - Return Before Taxes |
-15.65%
|
-1.84%
|
-
|
0.51%
|
Class
T - Return Before Taxes |
-18.02%
|
-2.64%
|
3.40%
|
-
|
Class
Y - Return Before Taxes1 |
-15.71%
|
-1.90%
|
3.81%
|
-
|
MSCI
World ex USA Index (Net) |
-14.29%
|
1.79%
|
4.59%
|
3.87%
|
1 | Prior to the inception of Class Y shares (5/1/17), performance is that of Class A shares and reflects the higher net expenses of that share class. |
Type of Account |
Minimum Initial Purchase |
Minimum Subsequent Purchase | ||
Any
account other than those listed below |
$ |
2,500
|
$ |
50
|
For
shareholders participating in Natixis Funds’ Investment Builder
Program |
$ |
1,000
|
$ |
50
|
For
Traditional IRA, Roth IRA, Rollover IRA, SEP-IRA and Keogh plans using the
Natixis Funds’ prototype document (direct accounts,
not held through intermediary) |
$ |
1,000
|
$ |
50
|
Coverdell
Education Savings Accounts using the Natixis Funds’ prototype document
(direct accounts, not held through intermediary) |
$ |
500
|
$ |
50
|
• | Fee Based Programs (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. |
• | Certain Retirement Plans. 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 Registered Investment Adviser where the Registered Investment Adviser receives an advisory, management or consulting fee. |
• | Certain Retirement Plans. 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. |
• | Sub-accounts held within an omnibus account, where the omnibus account has at least $1,000,000. |
• | Funds of funds that are distributed by the Distributor. |
• | Fee Based Programs (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. |
• | Certain Retirement Plans. 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. |
• | Certain Individual Retirement Accounts if the amounts invested represent rollover distributions from investments by any of the retirement plans invested in the Fund. |
• | Clients of a Registered Investment Adviser where the Registered Investment Adviser receives an advisory, management or consulting fee. |
• | Fund Trustees, 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. |
(fees
paid directly from your investment) |
Class A |
Class C |
Class N |
Class T |
Class Y |
Maximum
sales charge (load) imposed on purchases (as a percentage of offering
price) |
5.75%
|
None
|
None
|
2.50%
|
None
|
Maximum
deferred sales charge (load) (as a percentage of original purchase price
or redemption
proceeds, as applicable) |
None
* |
1.00%
|
None
|
None
|
None
|
Redemption
fees |
None
|
None
|
None
|
None
|
None
|
* | A 1.00% contingent deferred sales charge (“CDSC”) may apply to certain purchases of Class A shares of $1,000,000 or more that are redeemed within eighteen months of the date of purchase. |
(expenses
that you pay each year as a percentage of the value of your
investment) |
Class A |
Class C |
Class N |
Class T |
Class Y |
Management
fees1 |
0.70%
|
0.70%
|
0.70%
|
0.70%
|
0.70%
|
Distribution
and/or service (12b-1) fees |
0.25%
|
1.00%
|
0.00%
|
0.25%
|
0.00%
|
Other
expenses |
0.14%
|
0.14%
|
0.61%
|
0.14%
2 |
0.14%
|
Total
annual fund operating expenses |
1.09%
|
1.84%
|
1.31%
|
1.09%
|
0.84%
|
Fee
waiver and/or expense reimbursement3,4 |
0.00%
|
0.00%
|
0.53%
|
0.00%
|
0.00%
|
Total
annual fund operating expenses after fee waiver and/or expense
reimbursement |
1.09%
|
1.84%
|
0.78%
|
1.09%
|
0.84%
|
1 | The Fund’s operating expenses have been restated to reflect a reduction in management fees, effective as of July 1, 2022, as if such reduction had been in effect during the fiscal year ended December 31, 2022. The information has been restated to better reflect anticipated expenses of the Fund. |
2 | Other expenses for Class T shares are estimated for the current fiscal year. |
3 | Natixis Advisors, LLC (“Natixis Advisors”) has given a binding contractual undertaking to the Fund to limit the amount of the Fund’s total annual fund operating expenses to 1.15%, 1.90%, 0.85%, 1.15% and 0.90% of the Fund’s average daily net assets for Class A, C, N, T and Y shares, respectively, exclusive of brokerage expenses, interest expense, taxes, acquired fund fees and expenses, organizational and extraordinary expenses, such as litigation and indemnification expenses. This undertaking is in effect through April 30, 2024 and may be terminated before then only with the consent of the Fund’s Board of Trustees. Natixis Advisors will be permitted to recover, on a class by class basis, management fees waived and/or expenses reimbursed to the extent that expenses in later periods fall below both (1) the class’ applicable expense limitation at the time such amounts were waived/reimbursed and (2) the class’ current applicable expense limitation.The Fund will not be obligated to repay any such waived/reimbursed fees and expenses more than one year after the end of the fiscal year in which the fees or expenses were waived/reimbursed. |
4 | Natixis Advisors has given a binding contractual undertaking to the Fund to reimburse any and all transfer agency expenses for Class N shares. This undertaking is in effect through April 30, 2024 and may be terminated before then only with the consent of the Fund’s Board of Trustees. |
If shares are redeemed: |
1 year |
3 years |
5 years |
10 years | ||||
Class
A |
$ |
680
|
$ |
902
|
$ |
1,141
|
$ |
1,827
|
Class
C |
$ |
287
|
$ |
579
|
$ |
995
|
$ |
1,962
|
Class
N |
$ |
80
|
$ |
363
|
$ |
667
|
$ |
1,532
|
Class
T |
$ |
358
|
$ |
588
|
$ |
836
|
$ |
1,545
|
Class
Y |
$ |
86
|
$ |
268
|
$ |
466
|
$ |
1,037
|
If shares are not
redeemed: |
1 year |
3 years |
5 years |
10 years | ||||
Class
C |
$ |
187
|
$ |
579
|
$ |
995
|
$ |
1,962
|
• | Harris Associates - Large Cap Value segment - Under normal circumstances, the Large Cap Value segment of the Fund managed by Harris Associates L.P. (“Harris Associates”) will invest primarily in the common stocks of larger-capitalization companies that Harris Associates believes are trading at a substantial discount to the company’s “intrinsic value.” By “intrinsic value,” Harris Associates means its estimate of the price a knowledgeable buyer would pay to acquire the entire business. Harris Associates believes that investing in securities priced significantly below what Harris Associates believes is a company’s intrinsic value presents the best opportunity to achieve the Fund’s investment objectives. Harris Associates usually sells a security when the price approaches its estimated value and monitors each holding and adjusts its price targets as warranted to reflect changes in the issuer’s fundamentals. In determining whether an issuer is a U.S. or foreign issuer for the Harris Associates – Large Cap Value segment, Harris Associates considers various factors, including its country of domicile, the primary stock exchange on which it trades, the location from which the majority of its revenue comes, and its reporting currency. |
• | Loomis Sayles - All Cap Growth segment - Under normal circumstances, the All Cap Growth segment of the Fund, managed by Loomis, Sayles & Company, L.P. (“Loomis Sayles”), will invest primarily in equity securities, including common stocks and depositary receipts. This segment may invest in companies of any size. The segment normally invests across a wide range of sectors and industries. The segment’s portfolio manager employs a growth style of equity management that emphasizes 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 segment’s portfolio manager 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 segment 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 portfolio manager believes the current price fully reflects intrinsic value, or for other investment reasons which the portfolio manager deems appropriate. Although certain equity securities purchased by the Loomis Sayles – All Cap Growth segment of 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 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. |
• | Invest in securities offered in initial public offerings (“IPOs”) and securities issued pursuant to Rule 144A under the Securities Act of 1933 (“Rule 144A securities”). |
• | Invest in convertible preferred stock and convertible debt securities. |
• | Invest in real estate investment trusts (“REITs”). |
• | Invest in fixed-income securities, including U.S. government bonds and below-investment grade fixed-income securities (commonly known as “junk bonds”). |
• | Hold securities of foreign issuers traded over-the-counter or on foreign exchanges, including securities in emerging markets and related currency hedging transactions. |
• | Invest in equity securities of Canadian issuers. |
![]() |
Highest
Quarterly Return: Second Quarter 2020, 22.61% Lowest Quarterly Return: Second Quarter 2022, -20.63% |
Average Annual Total
Returns |
|
|
|
|
(for
the periods ended December 31, 2022) |
Past 1 Year |
Past 5 Years |
Past 10 Years |
Life of Class N (5/1/17) |
Class
Y - Return Before Taxes |
-20.95%
|
8.02%
|
13.06%
|
-
|
Return
After Taxes on Distributions |
-23.23%
|
5.49%
|
10.53%
|
-
|
Return
After Taxes on Distributions and Sale of Fund Shares |
-10.63%
|
6.21%
|
10.30%
|
-
|
Class
A - Return Before Taxes |
-25.68%
|
6.49%
|
12.12%
|
-
|
Class
C - Return Before Taxes |
-22.33%
|
6.94%
|
12.11%
|
-
|
Class
N - Return Before Taxes |
-20.88%
|
8.12%
|
-
|
10.10%
|
Class
T - Return Before Taxes |
-23.13%
|
7.21%
|
12.50%
|
-
|
Average Annual Total
Returns |
|
|
|
|
(for
the periods ended December 31, 2022) |
Past 1 Year |
Past 5 Years |
Past 10 Years |
Life of Class N (5/1/17) |
S&P
500®
Index |
-18.11%
|
9.42%
|
12.56%
|
10.67%
|
Russell
1000®
Index |
-19.13%
|
9.13%
|
12.37%
|
10.39%
|
Type of Account |
Minimum Initial Purchase |
Minimum Subsequent Purchase | ||
Any
account other than those listed below |
$ |
2,500
|
$ |
50
|
For
shareholders participating in Natixis Funds’ Investment Builder
Program |
$ |
1,000
|
$ |
50
|
For
Traditional IRA, Roth IRA, Rollover IRA, SEP-IRA and Keogh plans using the
Natixis Funds’ prototype document (direct accounts,
not held through intermediary) |
$ |
1,000
|
$ |
50
|
Type of Account |
Minimum Initial Purchase |
Minimum Subsequent Purchase | ||
Coverdell
Education Savings Accounts using the Natixis Funds’ prototype document
(direct accounts, not held through intermediary) |
$ |
500
|
$ |
50
|
• | Fee Based Programs (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. |
• | Certain Retirement Plans. 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 Registered Investment Adviser where the Registered Investment Adviser receives an advisory, management or consulting fee. |
• | Certain Retirement Plans. 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. |
• | Sub-accounts held within an omnibus account, where the omnibus account has at least $1,000,000. |
• | Funds of funds that are distributed by the Distributor. |
• | Fee Based Programs (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. |
• | Certain Retirement Plans. 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. |
• | Certain Individual Retirement Accounts if the amounts invested represent rollover distributions from investments by any of the retirement plans invested in the Fund. |
• | Clients of a Registered Investment Adviser where the Registered Investment Adviser receives an advisory, management or consulting fee. |
• | Fund Trustees, 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. |
• | Harris Associates - Large Cap Value segment - Under normal circumstances, the Large Cap Value segment of the Fund managed by Harris Associates L.P. (“Harris Associates”) will invest primarily in the common stocks of larger-capitalization companies that Harris Associates believes are trading at a substantial discount to the company’s “intrinsic value.” By “intrinsic value,” Harris Associates means its estimate of the price a knowledgeable buyer would pay to acquire the entire business. Harris Associates believes that investing in securities priced significantly below what Harris Associates believes is a company’s intrinsic value presents the best opportunity to achieve the Fund’s investment objectives. Harris Associates usually sells a security when the price approaches its estimated value and monitors each holding and adjusts its price targets as warranted to reflect changes in the issuer’s fundamentals. In determining whether an issuer is a U.S. or foreign issuer for the Harris Associates – Large Cap Value segment, Harris Associates considers various factors, including its country of domicile, the primary stock exchange on which it trades, the location from which the majority of its revenue comes, and its reporting currency. |
• | Loomis Sayles - All Cap Growth segment - Under normal circumstances, the All Cap Growth segment of the Fund, managed by Loomis, Sayles & Company, L.P. (“Loomis Sayles”), will invest primarily in equity securities, including common stocks and depositary receipts. This segment may invest in companies of any size. The segment normally invests across a wide range of sectors and industries. The segment’s portfolio manager employs a growth style of equity management that emphasizes 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 segment’s portfolio manager 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 segment 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 portfolio manager believes the current price fully reflects intrinsic value, or for other investment reasons which the portfolio manager deems appropriate. Although certain equity securities purchased by the Loomis Sayles – All Cap Growth segment of 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 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. |
• | Invest in securities offered in initial public offerings (“IPOs”) and securities issued pursuant to Rule 144A under the Securities Act of 1933 (“Rule 144A securities”). |
• | Invest in convertible preferred stock and convertible debt securities. |
• | Invest in real estate investment trusts (“REITs”). |
• | Invest in fixed-income securities, including U.S. government bonds and below-investment grade fixed-income securities (commonly known as “junk bonds”). |
• | Hold securities of foreign issuers traded over-the-counter or on foreign exchanges, including securities in emerging markets and related currency hedging transactions. |
• | Invest in equity securities of Canadian issuers. |
• | You pay a sales charge when you buy Class A shares. There are several ways to reduce this charge. See the section “How Sales Charges Are Calculated.” |
• | You pay lower annual expenses than Class C and Admin Class shares, giving you the potential for higher returns per share. However, where front-end sales charges are applicable, returns are earned on a smaller amount of your investment. |
• | You pay higher expenses than Class N and Class Y shares. |
• | You do not pay a sales charge if your total investment reaches $1 million or more, but you may pay a charge on redemptions if you redeem these shares within 18 months of purchase. |
• | You do not pay a sales charge when you buy Class C shares. All of your money goes to work for you right away. |
• | You pay higher annual expenses than Class A, Class N, Class T, Class Y and Admin Class shares. |
• | You may pay a sales charge on redemptions if you sell your Class C shares within one year of purchase. |
• | Investors will not be permitted to purchase $1 million or more of Class C shares as a single investment per account. There may be certain exceptions to this restriction for omnibus and other nominee accounts. Investors may want to consider the lower operating expense of Class A shares in such instances. You may pay a charge on redemptions if you redeem Class A shares within 18 months of purchase. |
• | Except as noted below, Class C shares will automatically convert to Class A shares after eight years. Please see the section “Exchanging or Converting Shares” for details regarding a conversion of shares. Generally, to be eligible to have your Class C shares automatically converted to Class A shares, the Fund or the financial intermediary through which you purchased your shares will need to have records verifying that your Class C shares have been held for eight years. Due to operational limitations at your financial intermediary, your ability to have your Class C shares automatically converted to Class A shares may be limited. Group retirement plans of certain financial intermediaries who hold Class C shares with the Fund in an omnibus account do not track participant level aging of shares and therefore these shares will not be eligible for an automatic conversion. Certain intermediaries may convert your Class C shares to Class A shares in accordance with a conversion schedule that may differ from the one described above. Please consult your financial representative for more information. |
• | You have a minimum initial investment of $1,000,000. There are several ways to waive this minimum. See the section “Purchase and Sale of Fund Shares.” |
• | You do not pay a sales charge when you buy Class N shares. All of your money goes to work for you right away. |
• | You do not pay a sales charge on redemptions. |
• | You may pay lower annual expenses than Class A, Class C, Class T, Class Y and Admin Class shares, giving you the potential for higher returns per share. |
• | Class T shares of the Funds are not currently available for purchase. |
• | The shares are available to a limited type of investor. See the section “Purchase and Sale of Fund Shares.” |
• | You pay a sales charge when you buy Class T shares. This charge is reduced for purchases of $250,000 or more. See the section “How Sales Charges Are Calculated.” |
• | You pay lower annual expenses than Class C and Admin Class shares, giving you the potential for higher returns per share. However, where front-end sales charges are applicable, returns are earned on a smaller amount of your investment. |
• | You pay higher expenses than Class N and Class Y shares. |
• | You have a minimum initial investment of $100,000. There are several ways to waive this minimum. See the section “Purchase and Sale of Fund Shares.” |
• | You do not pay a sales charge when you buy Class Y shares. All of your money goes to work for you right away. |
• | You do not pay a sales charge on redemptions. |
• | You pay lower annual expenses than Class A, Class C, Class T and Admin Class shares, giving you the potential for higher returns per share. |
• | You may pay higher annual expenses than Class N shares. |
• | The shares are available to a limited type of investor. See the section “Purchase and Sale of Fund Shares.” |
• | You have no minimum initial investment. |
• | You do not pay a sales charge when you buy Admin Class shares. All of your money goes to work for you right away. |
• | You do not pay a sales charge on redemptions. |
• | You pay lower annual expenses than Class C shares, giving you the potential for higher returns per share. |
• | You pay higher annual expenses than Class A, Class N, Class T and Class Y shares. |
Class A Sales Charges* |
|
| ||||
|
Loomis Sayles International Growth Fund, Natixis
Oakmark Fund, Natixis Oakmark International Fund
and Natixis U.S. Equity Opportunities
Fund |
|
|
Loomis Sayles High Income Fund, Loomis Sayles
Investment Grade Bond Fund, Loomis Sayles
Strategic Income Fund and Loomis Sayles
Strategic Alpha Fund | ||
Your Investment |
As a % of offering price |
As a % of your investment |
|
Your Investment |
As a % of offering price |
As a % of your
investment |
Less
than $50,000 |
5.75% |
6.10% |
|
Less
than $100,000 |
4.25% |
4.44% |
$50,000-$99,999 |
4.50% |
4.71% |
|
$100,000-$249,999 |
3.50% |
3.63% |
$100,000-$249,999 |
3.50% |
3.63% |
|
$250,000-$499,999 |
2.50% |
2.56% |
$250,000-$499,999 |
2.50% |
2.56% |
|
$500,000-$999,999 |
2.00% |
2.04% |
$500,000-$999,999 |
2.00% |
2.04% |
|
$1,000,000
or more** |
0.00% |
0.00% |
$1,000,000
or more** |
0.00% |
0.00% |
|
• | Letter of Intent — By signing a Letter of Intent, you may purchase Class A shares of any Natixis Fund over a 13-month period but pay sales charges as if you had purchased all shares at once. This program can save you money if you plan to invest $50,000 or more (or $100,000 or more for Loomis Sayles High Income Fund, Loomis Sayles Investment Grade Bond Fund, Loomis Sayles Strategic Alpha Fund or Loomis Sayles Strategic Income Fund) within 13 months. |
• | Cumulative Purchase Discount — You may be entitled to a reduced sales charge if your “total investment” reaches a breakpoint for a reduced sales charge. The total investment is determined by adding the amount of your current purchase in a Fund, including the applicable sales charge, to the current public offering price of all series and classes of shares (excluding Class T shares) of the Natixis Funds held by you in one or more accounts. If your total investment exceeds a sales charge breakpoint in the table above, the lower sales charge applies to the entire amount of your current purchase in a Fund. |
• | Combining Accounts — This allows you to combine shares of multiple Natixis Funds and classes for purposes of calculating your sales charge. |
Individual Accounts:
You may elect to combine your purchase(s) and your total investment, as
defined above, with the purchases and total investment of your
spouse, parents, children, siblings, grandparents, grandchildren, in-laws
(of those previously mentioned), individual retirement accounts, sole
proprietorships,
single trust estates and any other individuals acceptable to the
Distributor. Certain Retirement Plan Accounts: The Distributor may, at its discretion, combine the purchase(s) and total investment of all qualified participants in the same retirement plan for purposes of determining the availability of a reduced sales charge. In most instances, individual accounts may not be linked with certain retirement plan accounts for the purposes of calculating sales charges. Savings Incentive Match Plan for Employees (“SIMPLE IRA”) contributions will automatically be linked with those of other participants in the same SIMPLE IRA Plan (Class A shares only) using the Natixis Funds prototype document. SIMPLE IRA accounts may not be linked with any other Natixis Fund account for rights of accumulation. Please refer to the SAI for more detailed information on combining accounts. |
• | Clients of a financial intermediary that has entered into an agreement with the Distributor and has been approved by the Distributor to offer Fund shares to self-directed investment brokerage accounts that may or may not charge a transaction fee; |
• | Any government entity that is prohibited from paying a sales charge or commission to purchase mutual fund shares; |
• | All employees of financial intermediaries under arrangements with the Distributor (this also applies to spouses and children under the age of 21 of those mentioned); |
• | Fund trustees, former 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); |
• | Certain Retirement Plans. The availability of this pricing may depend upon the policies and procedures of your specific financial intermediary; consult your financial adviser; |
• | Non-discretionary and non-retirement accounts of bank trust departments or trust companies, but only if they principally engage in banking or trust activities; |
• | Fee Based Programs of certain broker-dealers, the Advisers or the Distributor. Please consult your financial representative to determine if your fee based program is subject to additional or different conditions or fees; and |
• | Registered Investment Advisers investing on behalf of clients in exchange for an advisory, management or consulting fee. |
Year Since Purchase |
CDSC on Shares Being
Sold |
1st |
1.00% |
Thereafter |
0.00% |
• | Is calculated based on the number of shares you are selling; |
• | Calculation is based on either your original purchase price or the current NAV of the shares being sold, whichever is lower in order to minimize your CDSC; |
• | Is deducted from the proceeds of the redemption unless you request, at the time of the redemption, that it be deducted from the amount remaining in your account; and |
• | Applies to redemptions made within the time frame shown above for each class. |
• | Increases in NAV above the purchase price; |
• | Shares you acquired by reinvesting your dividends or capital gains distributions; or |
• | Exchanges. However, the original purchase date of the shares from which the exchange is made determines if the newly acquired shares are subject to the CDSC when they are sold. |
Class T Sales Charges*,** |
|
|
|
|
|
Your
Investment |
As
a % of offering price |
As
a % of your investment |
Less
than $250,000 |
2.50% |
2.56% |
Class T Sales Charges*,** |
|
|
|
|
|
Your
Investment |
As
a % of offering price |
As
a % of your investment |
$250,000
– $499,999 |
2.00% |
2.04% |
$500,000
– $999,999 |
1.50% |
1.52% |
$1,000,000
or more |
1.00% |
1.01% |
* | Due to rounding, the actual sales charge for a particular transaction may be higher or lower than the rates listed above. |
** | Not imposed on shares that are purchased with reinvested dividends or other distributions. |
• | If you are selling more than $100,000 per day from a single fund/account and you are requesting the proceeds by check (this does not apply to IRA transfer of assets to new custodian). |
• | If you are requesting that the proceeds check (of any amount) be made out to someone other than the registered owner(s) or sent to an address other than the address of record. |
• | If the account registration or bank account information has changed within the past 30 days. |
• | If you are instructing us to send the proceeds by check, wire or ACH to a bank not already active on the fund account. |
Restriction |
Situation |
Each
Fund may suspend the right of redemption: |
•
When
the NYSE is closed (other than a weekend/holiday) as permitted by the
SEC.
•
During
an emergency as permitted by the SEC.
•
During
any other period permitted by the SEC. |
Each
Fund reserves the right to suspend account services or refuse transaction
requests: |
•
With
a notice of a dispute between registered owners or death of a registered
owner.
•
With
suspicion/evidence of a fraudulent act. |
Each
Fund may pay the redemption price in whole or in part by a distribution
in-kind of
readily marketable securities in lieu of cash or may take up to 7 days to
pay a redemption
request in order to raise capital: |
•
When
or if it is advisable for the Fund to redeem in-kind, as determined in the
sole discretion
of the Adviser or
Subadviser, or if requested by the redeeming shareholder
and agreed to by the Fund. |
Each
Fund may withhold redemption proceeds for 10 days from the purchase
date: |
•
When
redemptions are made within 10 calendar days of purchase by check or ACH
to
allow the check or ACH transaction to
clear. |
• | A share’s NAV is determined at the close of regular trading on the NYSE on the days the NYSE is open for trading. This is normally 4:00 p.m., Eastern time. A Fund’s shares will not be priced on the days on which the NYSE is closed for trading. In addition, a Fund’s shares will not be priced on the holidays listed in the SAI. See the section “Net Asset Value” in the SAI for more details. |
• | The price you pay for purchasing, redeeming or exchanging a share will be based upon the NAV next calculated (plus or minus applicable sales charges as described earlier in the Fund Summary) after your order is received by the transfer agent, SS&C Global Investor & Distribution Solutions, Inc. (formerly, DST Asset Manager Solutions, Inc.), (rather than when the order arrives at the P.O. box) “in good order” (meaning that the order is complete and contains all necessary information).1 |
• | Requests received by the Funds after the NYSE closes will be processed based upon the NAV determined at the close of regular trading on the next day that the NYSE is open. If the transfer agent receives the order in good order prior to the NYSE market close (normally 4:00 p.m., Eastern time), the shareholder will receive that day’s NAV. Under limited circumstances, the Distributor may enter into contractual agreements pursuant to which orders received by your investment dealer before a Fund determines its NAV and transmitted to the transfer agent prior to market open on the next business day are processed at the NAV determined on the day the order was received by your investment dealer. Please contact your investment dealer to determine whether it has entered into such a contractual agreement. If your investment dealer has not entered into such a contractual agreement, your order will be processed at the NAV next determined after your investment dealer submits the order to a Fund. |
• | If a Fund invests in foreign securities, it may have NAV changes on days when you cannot buy or sell its shares. |
1 | Please see the section “How to Purchase Shares,” which provides additional information regarding who can receive a purchase order. |
• | Equity securities (including shares of closed-end investment companies and exchange-traded funds (“ETFs”)), exchange traded notes, rights, and warrants — listed equity securities are valued at the last sale price quoted on the exchange where they are traded most extensively or, if there is no reported sale during the day, the closing bid quotation as reported by an independent pricing service. Securities traded on the NASDAQ Global Select Market, NASDAQ Global Market and NASDAQ Capital Market are valued at the NASDAQ Official Closing Price (“NOCP”), or if lacking an NOCP, at the most recent bid quotations on the applicable NASDAQ Market. Unlisted equity securities (except unlisted preferred equity securities discussed below) are valued at the last sale price quoted in the market where they are traded most extensively or, if there is no reported sale during the day, the closing bid quotation as reported by an independent pricing service. If there is no sale price or closing bid quotation available, unlisted equity securities will be valued using evaluated bids furnished by an independent pricing service, if available. In some foreign markets, an official close price and a last sale price may be available from the foreign exchange or market. In those cases, the official close price is used. Valuations based on information from foreign markets may be subject to the Funds’ fair value policies described below. If a right is not traded on any exchange, its value is based on the market value of the underlying security, less the cost to subscribe to the underlying security (e.g., to exercise the right), adjusted for the subscription ratio. If a warrant is not traded on any exchange, a price is obtained from a broker-dealer. |
• | Debt securities and unlisted preferred equity securities — evaluated bids furnished to a Fund by an independent pricing service using market information, transactions for comparable securities and various relationships between securities, if available, or bid prices obtained from broker-dealers. |
• | Senior Loans — bid prices supplied by an independent pricing service, if available, or bid prices obtained from broker-dealers. |
• | Bilateral Swaps — bilateral credit default swaps are valued based on mid prices (between the bid price and the ask price) supplied by an independent pricing service. Bilateral interest rate swaps and bilateral standardized commodity and equity index total return swaps are valued based on prices supplied by an independent pricing service. If prices from an independent pricing service are not available, prices from a broker-dealer may be used. |
• | Centrally Cleared Swaps — settlement prices of the clearing house on which the contracts were traded or prices obtained from broker-dealers. |
• | Options — domestic exchange-traded index and single name equity options contracts (including options on ETFs) are valued at the mean of the National Best Bid and Offer quotations as determined by the Options Price Reporting Authority. Foreign exchange-traded single name equity options contracts are valued at the most recent settlement price. Options contracts on foreign indices are priced at the most recent settlement price. Options on futures contracts are valued using the current settlement price on the exchange on which, over time, they are traded most extensively. Other exchange-traded options are valued at the average of the closing bid and ask quotations on the exchange on which, over time, they are traded most extensively. OTC currency options and swaptions are valued at mid prices (between the bid price and the ask price) supplied by an independent pricing service, if available. |
Other OTC options contracts (including currency options and swaptions not priced through an independent pricing service) are valued based on prices obtained from broker-dealers. Valuations based on information from foreign markets may be subject to the Fund’s fair value policies as described below. |
• | Futures — most recent settlement price on the exchange on which the Adviser or Subadviser (if applicable) believes that, over time, they are traded most extensively. Valuations based on information from foreign markets may be subject to the Funds’ fair value policies as described below. |
• | Forward Foreign Currency Contracts — interpolated rates determined based on information provided by an independent pricing service. |
Dividend Payment
Schedule | ||
Annually |
Quarterly |
Monthly |
Loomis
Sayles International Growth Fund |
Loomis
Sayles Strategic Alpha Fund |
Loomis
Sayles High Income Fund |
Natixis
Oakmark Fund |
|
Loomis
Sayles Investment Grade Bond Fund |
Natixis
Oakmark International Fund |
|
Loomis
Sayles Strategic Income Fund |
Natixis
U.S. Equity Opportunities Fund |
|
|
• | Participate in the Dividend Diversification Program, which allows you to have all dividends and distributions automatically invested at NAV in shares of the same class of another Natixis Fund registered in your name. Certain investment minimums and restrictions may apply. For more information about the program, see the section “Additional Investor Services;” |
• | Receive distributions from dividends and interest in cash while reinvesting distributions from capital gains in additional shares of the same class of the Fund, or in the same class of another Natixis Fund; |
• | Receive distributions from capital gains in cash while reinvesting distributions from dividends and interest in additional shares of the same class of the Fund, or in the same class of another Natixis Fund; or |
• | Receive all distributions in cash. |
Average
Annual Total Returns (for the periods ended December 31, 2022) |
Past
1 Year |
Since
Inception (12/31/19) |
Composite
(Net of Fees) |
-17.32%
|
0.35%
|
Composite
(Gross of Fees) |
-16.65%
|
1.15%
|
MSCI
All Country World ex USA Index (Net) |
-16.00%
|
0.07%
|
|
Class A | |||||||||||
|
Year
Ended December 31, 2022 |
Year
Ended December 31, 2021 |
Year
Ended December 31, 2020 |
Year
Ended December 31, 2019 |
Period
Ended December 31, 2018* |
Year
Ended September 30, 2018 | ||||||
Net
asset value, beginning of the period |
$ |
4.29
|
$ |
4.35
|
$ |
4.25
|
$ |
3.99
|
$ |
4.25
|
$ |
4.37
|
Income (loss) from Investment Operations: |
|
|
|
|
|
|
|
|
|
|
|
|
Net
investment income(a) |
|
0.19
|
|
0.17
|
|
0.20
|
|
0.20
|
|
0.05
|
|
0.20
|
Net
realized and unrealized gain (loss) |
|
(0.77
)
|
|
(0.05
)
|
|
0.12
(b) |
|
0.27
|
|
(0.24
)
|
|
(0.14
)
|
Total
from Investment Operations |
|
(0.58
)
|
|
0.12
|
|
0.32
|
|
0.47
|
|
(0.19
)
|
|
0.06
|
Less Distributions From: |
|
|
|
|
|
|
|
|
|
|
|
|
Net
investment income |
|
(0.21
)
|
|
(0.18
)
|
|
(0.22
)
|
|
(0.21
)
|
|
(0.06
)
|
|
(0.18
)
|
Net
realized capital gains |
|
—
|
|
—
|
|
—
|
|
—
|
|
(0.01
)
|
|
—
|
Total
Distributions |
|
(0.21
)
|
|
(0.18
)
|
|
(0.22
)
|
|
(0.21
)
|
|
(0.07
)
|
|
(0.18
)
|
Net
asset value, end of the period |
$ |
3.50
|
$ |
4.29
|
$ |
4.35
|
$ |
4.25
|
$ |
3.99
|
$ |
4.25
|
Total
return(c)(d) |
|
(13.66
)%
|
|
2.87
%
|
|
8.16
%
|
|
11.94
%
|
|
(4.54
)%
(e) |
|
1.41
%
|
Ratios to Average Net Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
Net
assets, end of the period (000’s) |
$ |
19,108
|
$ |
20,470
|
$ |
41,547
|
$ |
23,199
|
$ |
23,125
|
$ |
26,175
|
Net
expenses(f) |
|
1.00
%
|
|
1.00
%
|
|
1.00
%
|
|
1.03
%
(g) |
|
1.05
%
(h) |
|
1.05
%
|
Gross
expenses |
|
1.18
%
|
|
1.19
%
|
|
1.22
%
|
|
1.18
%
|
|
1.27
%
(h) |
|
1.16
%
|
Net
investment income |
|
5.13
%
|
|
3.83
%
|
|
4.91
%
|
|
4.84
%
|
|
5.13
%
(h) |
|
4.73
%
|
Portfolio
turnover rate |
|
53
%
|
|
67
%
|
|
99
%
(i) |
|
48
%
|
|
17
%
|
|
55
%
|
* |
For
the three month period ended December 31, 2018 due to change in fiscal
year end. |
(a) |
Per
share net investment income has been calculated using the average shares
outstanding during the period. |
(b) |
The
amount shown for a share outstanding does not correspond with the
aggregate realized and unrealized gain (loss) on investments for the
period due to the timing of sales and
redemptions of fund shares in relation to fluctuating market values of
investments of the Fund. |
(c) |
A
sales charge for Class A shares is not reflected in total return
calculations. |
(d) |
Had
certain expenses not been waived/reimbursed during the period, total
returns would have been lower. |
(e) |
Periods
less than one year are not annualized. |
(f) |
The
investment adviser agreed to waive its fees and/or reimburse a portion of
the Fund’s expenses during the period. Without this waiver/reimbursement,
expenses would have
been higher. |
(g) |
Effective
July 1, 2019, the expense limit decreased from 1.05% to
1.00%. |
(h) |
Computed
on an annualized basis for periods less than one year. |
(i) |
The
variation in the Fund’s turnover rate from 2019 to 2020 was primarily due
to a significant repositioning of the portfolio as a result of increased
market volatility. |
|
Class C | |||||||||||
|
Year
Ended December 31, 2022 |
Year
Ended December 31, 2021 |
Year
Ended December 31, 2020 |
Year
Ended December 31, 2019 |
Period
Ended December 31, 2018* |
Year
Ended September 30, 2018 | ||||||
Net
asset value, beginning of the period |
$ |
4.31
|
$ |
4.37
|
$ |
4.27
|
$ |
4.00
|
$ |
4.27
|
$ |
4.38
|
Income (loss) from Investment Operations: |
|
|
|
|
|
|
|
|
|
|
|
|
Net
investment income(a) |
|
0.16
|
|
0.14
|
|
0.17
|
|
0.17
|
|
0.05
|
|
0.17
|
Net
realized and unrealized gain (loss) |
|
(0.78
)
|
|
(0.05
)
|
|
0.12
(b) |
|
0.28
|
|
(0.26
)
|
|
(0.13
)
|
Total
from Investment Operations |
|
(0.62
)
|
|
0.09
|
|
0.29
|
|
0.45
|
|
(0.21
)
|
|
0.04
|
Less Distributions From: |
|
|
|
|
|
|
|
|
|
|
|
|
Net
investment income |
|
(0.18
)
|
|
(0.15
)
|
|
(0.19
)
|
|
(0.18
)
|
|
(0.05
)
|
|
(0.15
)
|
Net
realized capital gains |
|
—
|
|
—
|
|
—
|
|
—
|
|
(0.01
)
|
|
—
|
Total
Distributions |
|
(0.18
)
|
|
(0.15
)
|
|
(0.19
)
|
|
(0.18
)
|
|
(0.06
)
|
|
(0.15
)
|
Net
asset value, end of the period |
$ |
3.51
|
$ |
4.31
|
$ |
4.37
|
$ |
4.27
|
$ |
4.00
|
$ |
4.27
|
Total
return(c)(d) |
|
(14.50
)%
|
|
2.07
%
|
|
7.30
%
|
|
11.32
%
|
|
(4.95
)%
(e) |
|
0.86
%
|
Ratios to Average Net Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
Net
assets, end of the period (000’s) |
$ |
1,182
|
$ |
1,795
|
$ |
2,933
|
$ |
3,836
|
$ |
5,351
|
$ |
6,248
|
Net
expenses(f) |
|
1.75
%
|
|
1.75
%
|
|
1.75
%
|
|
1.78
%
(g) |
|
1.80
%
(h) |
|
1.80
%
|
Gross
expenses |
|
1.93
%
|
|
1.94
%
|
|
1.97
%
|
|
1.93
%
|
|
2.02
%
(h) |
|
1.91
%
|
Net
investment income |
|
4.34
%
|
|
3.14
%
|
|
4.24
%
|
|
4.11
%
|
|
4.38
%
(h) |
|
3.99
%
|
Portfolio
turnover rate |
|
53
%
|
|
67
%
|
|
99
%
(i) |
|
48
%
|
|
17
%
|
|
55
%
|
* |
For
the three month period ended December 31, 2018 due to change in fiscal
year end. |
(a) |
Per
share net investment income has been calculated using the average shares
outstanding during the period. |
(b) |
The
amount shown for a share outstanding does not correspond with the
aggregate realized and unrealized gain (loss) on investments for the
period due to the timing of sales and
redemptions of fund shares in relation to fluctuating market values of
investments of the Fund. |
(c) |
A
contingent deferred sales charge for Class C shares is not reflected in
total return calculations. |
(d) |
Had
certain expenses not been waived/reimbursed during the period, total
returns would have been lower. |
(e) |
Periods
less than one year are not annualized. |
(f) |
The
investment adviser agreed to waive its fees and/or reimburse a portion of
the Fund’s expenses during the period. Without this waiver/reimbursement,
expenses would have
been higher. |
(g) |
Effective
July 1, 2019, the expense limit decreased from 1.80% to
1.75%. |
(h) |
Computed
on an annualized basis for periods less than one year. |
(i) |
The
variation in the Fund’s turnover rate from 2019 to 2020 was primarily due
to a significant repositioning of the portfolio as a result of increased
market volatility. |
|
Class N | |||||||||||
|
Year
Ended December 31, 2022 |
Year
Ended December 31, 2021 |
Year
Ended December 31, 2020 |
Year
Ended December 31, 2019 |
Period
Ended December 31, 2018* |
Year
Ended September 30, 2018 | ||||||
Net
asset value, beginning of the period |
$ |
4.29
|
$ |
4.36
|
$ |
4.25
|
$ |
3.99
|
$ |
4.25
|
$ |
4.36
|
Income (loss) from Investment Operations: |
|
|
|
|
|
|
|
|
|
|
|
|
Net
investment income(a) |
|
0.20
|
|
0.18
|
|
0.21
|
|
0.22
|
|
0.06
|
|
0.20
|
Net
realized and unrealized gain (loss) |
|
(0.77
)
|
|
(0.05
)
|
|
0.14
(b) |
|
0.26
|
|
(0.25
)
|
|
(0.12
)
|
Total
from Investment Operations |
|
(0.57
)
|
|
0.13
|
|
0.35
|
|
0.48
|
|
(0.19
)
|
|
0.08
|
Less Distributions From: |
|
|
|
|
|
|
|
|
|
|
|
|
Net
investment income |
|
(0.22
)
|
|
(0.20
)
|
|
(0.24
)
|
|
(0.22
)
|
|
(0.06
)
|
|
(0.19
)
|
Net
realized capital gains |
|
—
|
|
—
|
|
—
|
|
—
|
|
(0.01
)
|
|
—
|
Total
Distributions |
|
(0.22
)
|
|
(0.20
)
|
|
(0.24
)
|
|
(0.22
)
|
|
(0.07
)
|
|
(0.19
)
|
Net
asset value, end of the period |
$ |
3.50
|
$ |
4.29
|
$ |
4.36
|
$ |
4.25
|
$ |
3.99
|
$ |
4.25
|
Total
return(c) |
|
(13.40
)%
|
|
2.95
%
|
|
8.73
%
|
|
12.28
%
|
|
(4.47
)%
(d) |
|
1.96
%
|
Ratios to Average Net Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
Net
assets, end of the period (000’s) |
$ |
132
|
$ |
105
|
$ |
14,783
|
$ |
11,977
|
$ |
10,417
|
$ |
10,338
|
Net
expenses(e) |
|
0.70
%
|
|
0.70
%
|
|
0.70
%
|
|
0.72
%
(f) |
|
0.75
%
(g) |
|
0.75
%
|
Gross
expenses |
|
1.80
%
|
|
0.86
%
|
|
0.88
%
|
|
0.82
%
|
|
0.89
%
(g) |
|
0.79
%
|
Net
investment income |
|
5.46
%
|
|
4.10
%
|
|
5.28
%
|
|
5.13
%
|
|
5.45
%
(g) |
|
4.65
%
|
Portfolio
turnover rate |
|
53
%
|
|
67
%
|
|
99
%
(h) |
|
48
%
|
|
17
%
|
|
55
%
|
* |
For
the three month period ended December 31, 2018 due to change in fiscal
year end. |
(a) |
Per
share net investment income has been calculated using the average shares
outstanding during the period. |
(b) |
The
amount shown for a share outstanding does not correspond with the
aggregate realized and unrealized gain (loss) on investments for the
period due to the timing of sales and
redemptions of fund shares in relation to fluctuating market values of
investments of the Fund. |
(c) |
Had
certain expenses not been waived/reimbursed during the period, total
returns would have been lower. |
(d) |
Periods
less than one year are not annualized. |
(e) |
The
investment adviser agreed to waive its fees and/or reimburse a portion of
the Fund’s expenses during the period. Without this waiver/reimbursement,
expenses would have
been higher. |
(f) |
Effective
July 1, 2019, the expense limit decreased from 0.75% to
0.70%. |
(g) |
Computed
on an annualized basis for periods less than one year. |
(h) |
The
variation in the Fund’s turnover rate from 2019 to 2020 was primarily due
to a significant repositioning of the portfolio as a result of increased
market volatility. |
|
Class Y | |||||||||||
|
Year
Ended December 31, 2022 |
Year
Ended December 31, 2021 |
Year
Ended December 31, 2020 |
Year
Ended December 31, 2019 |
Period
Ended December 31, 2018* |
Year
Ended September 30, 2018 | ||||||
Net
asset value, beginning of the period |
$ |
4.28
|
$ |
4.34
|
$ |
4.25
|
$ |
3.98
|
$ |
4.24
|
$ |
4.36
|
Income (loss) from Investment Operations: |
|
|
|
|
|
|
|
|
|
|
|
|
Net
investment income(a) |
|
0.20
|
|
0.18
|
|
0.22
|
|
0.21
|
|
0.06
|
|
0.21
|
Net
realized and unrealized gain (loss) |
|
(0.77
)
|
|
(0.05
)
|
|
0.10
(b) |
|
0.28
|
|
(0.25
)
|
|
(0.14
)
|
Total
from Investment Operations |
|
(0.57
)
|
|
0.13
|
|
0.32
|
|
0.49
|
|
(0.19
)
|
|
0.07
|
Less Distributions From: |
|
|
|
|
|
|
|
|
|
|
|
|
Net
investment income |
|
(0.22
)
|
|
(0.19
)
|
|
(0.23
)
|
|
(0.22
)
|
|
(0.06
)
|
|
(0.19
)
|
Net
realized capital gains |
|
—
|
|
—
|
|
—
|
|
—
|
|
(0.01
)
|
|
—
|
Total
Distributions |
|
(0.22
)
|
|
(0.19
)
|
|
(0.23
)
|
|
(0.22
)
|
|
(0.07
)
|
|
(0.19
)
|
Net
asset value, end of the period |
$ |
3.49
|
$ |
4.28
|
$ |
4.34
|
$ |
4.25
|
$ |
3.98
|
$ |
4.24
|
Total
return(c) |
|
(13.47
)%
|
|
3.15
%
|
|
8.19
%
|
|
12.52
%
|
|
(4.49
)%
(d) |
|
1.68
%
|
Ratios to Average Net Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
Net
assets, end of the period (000’s) |
$ |
97,059
|
$ |
104,957
|
$ |
53,456
|
$ |
108,315
|
$ |
97,585
|
$ |
127,699
|
Net
expenses(e) |
|
0.75
%
|
|
0.75
%
|
|
0.75
%
|
|
0.77
%
(f) |
|
0.80
%
(g) |
|
0.80
%
|
Gross
expenses |
|
0.93
%
|
|
0.95
%
|
|
0.98
%
|
|
0.93
%
|
|
1.02
%
(g) |
|
0.91
%
|
Net
investment income |
|
5.39
%
|
|
4.16
%
|
|
5.32
%
|
|
5.07
%
|
|
5.39
%
(g) |
|
4.98
%
|
Portfolio
turnover rate |
|
53
%
|
|
67
%
|
|
99
%
(h) |
|
48
%
|
|
17
%
|
|
55
%
|
* |
For
the three month period ended December 31, 2018 due to change in fiscal
year end. |
(a) |
Per
share net investment income has been calculated using the average shares
outstanding during the period. |
(b) |
The
amount shown for a share outstanding does not correspond with the
aggregate realized and unrealized gain (loss) on investments for the
period due to the timing of sales and
redemptions of fund shares in relation to fluctuating market values of
investments of the Fund. |
(c) |
Had
certain expenses not been waived/reimbursed during the period, total
returns would have been lower. |
(d) |
Periods
less than one year are not annualized. |
(e) |
The
investment adviser agreed to waive its fees and/or reimburse a portion of
the Fund’s expenses during the period. Without this waiver/reimbursement,
expenses would have
been higher. |
(f) |
Effective
July 1, 2019, the expense limit decreased from 0.80% to
0.75%. |
(g) |
Computed
on an annualized basis for periods less than one year. |
(h) |
The
variation in the Fund’s turnover rate from 2019 to 2020 was primarily due
to a significant repositioning of the portfolio as a result of increased
market volatility. |
|
Class A | |||||
|
Year
Ended December 31, 2022 |
Year
Ended December 31, 2021 |
Period
Ended December 31, 2020* | |||
Net
asset value, beginning of the period |
$ |
9.57
|
$ |
10.13
|
$ |
10.00
|
Income (loss) from Investment
Operations: |
|
|
|
|
|
|
Net
investment income (loss)(a) |
|
0.02
|
|
(0.01
)
|
|
0.01
|
Net
realized and unrealized gain (loss) |
|
(1.71
)
|
|
(0.41
)
|
|
0.13
|
Total
from Investment Operations |
|
(1.69
)
|
|
(0.42
)
|
|
0.14
|
Less Distributions From: |
|
|
|
|
|
|
Net
investment income |
|
(0.04
)
|
|
(0.01
)
|
|
(0.01
)
|
Net
realized capital gains |
|
—
|
|
(0.13
)
|
|
—
|
Total
Distributions |
|
(0.04
)
|
|
(0.14
)
|
|
(0.01
)
|
Net
asset value, end of the period |
$ |
7.84
|
$ |
9.57
|
$ |
10.13
|
Total
return(b)(c) |
|
(17.71
)%
|
|
(4.07
)%
|
|
1.37
%
(d) |
Ratios to Average Net
Assets: |
|
|
|
|
|
|
Net
assets, end of the period (000’s) |
$ |
125
|
$ |
113
|
$ |
1
|
Net
expenses(e) |
|
1.20
%
|
|
1.20
%
|
|
1.20
%
(f) |
Gross
expenses |
|
2.05
%
|
|
2.71
%
|
|
13.05
%
(f) |
Net
investment income (loss) |
|
0.26
%
|
|
(0.07
)%
|
|
1.28
%
(f) |
Portfolio
turnover rate |
|
11
%
|
|
9
%
|
|
1
%
|
* |
From
commencement of operations on December 15, 2020 through December 31,
2020. |
(a) |
Per
share net investment income (loss) has been calculated using the average
shares outstanding during the period. |
(b) |
A
sales charge for Class A shares is not reflected in total return
calculations. |
(c) |
Had
certain expenses not been waived/reimbursed during the period, total
returns would have been lower. |
(d) |
Periods
less than one year are not annualized. |
(e) |
The
investment adviser agreed to waive its fees and/or reimburse a portion of
the Fund’s expenses during the period. Without this waiver/reimbursement,
expenses would have
been higher. |
(f) |
Computed
on an annualized basis for periods less than one
year. |
|
Class C | |||||
|
Year
Ended December 31, 2022 |
Year
Ended December 31, 2021 |
Period
Ended December 31, 2020* | |||
Net
asset value, beginning of the period |
$ |
9.51
|
$ |
10.13
|
$ |
10.00
|
Income (loss) from Investment
Operations: |
|
|
|
|
|
|
Net
investment income (loss)(a) |
|
0.02
|
|
(0.09
)
|
|
0.00
(b) |
Net
realized and unrealized gain (loss) |
|
(1.76
)
|
|
(0.40
)
|
|
0.13
|
Total
from Investment Operations |
|
(1.74
)
|
|
(0.49
)
|
|
0.13
|
Less Distributions From: |
|
|
|
|
|
|
Net
investment income |
|
—
|
|
(0.00
)
(b) |
|
(0.00
)
(b) |
Net
realized capital gains |
|
—
|
|
(0.13
)
|
|
—
|
Total
Distributions |
|
—
|
|
(0.13
)
|
|
(0.00
)
|
Net
asset value, end of the period |
$ |
7.77
|
$ |
9.51
|
$ |
10.13
|
Total
return(c)(d) |
|
(18.30
)%
|
|
(4.79
)%
|
|
1.33
%
(e) |
Ratios to Average Net
Assets: |
|
|
|
|
|
|
Net
assets, end of the period (000’s) |
$ |
1
|
$ |
38
|
$ |
1
|
Net
expenses(f) |
|
1.95
%
|
|
1.95
%
|
|
1.95
%
(g) |
Gross
expenses |
|
2.79
%
|
|
3.46
%
|
|
13.78
%
(g) |
Net
investment income (loss) |
|
0.21
%
|
|
(0.90
)%
|
|
0.55
%
(g) |
Portfolio
turnover rate |
|
11
%
|
|
9
%
|
|
1
%
|
* |
From
commencement of operations on December 15, 2020 through December 31,
2020. |
(a) |
Per
share net investment income (loss) has been calculated using the average
shares outstanding during the period. |
(b) |
Amount
rounds to less than $0.01 per share. |
(c) |
A
contingent deferred sales charge for Class C shares is not reflected in
total return calculations. |
(d) |
Had
certain expenses not been waived/reimbursed during the period, total
returns would have been lower. |
(e) |
Periods
less than one year are not annualized. |
(f) |
The
investment adviser agreed to waive its fees and/or reimburse a portion of
the Fund’s expenses during the period. Without this waiver/reimbursement,
expenses would have
been higher. |
(g) |
Computed
on an annualized basis for periods less than one
year. |
|
Class N | |||||
|
Year
Ended December 31, 2022 |
Year
Ended December 31, 2021 |
Period
Ended December 31, 2020* | |||
Net
asset value, beginning of the period |
$ |
9.58
|
$ |
10.13
|
$ |
10.00
|
Income (loss) from Investment
Operations: |
|
|
|
|
|
|
Net
investment income(a) |
|
0.05
|
|
0.03
|
|
0.01
|
Net
realized and unrealized gain (loss) |
|
(1.72
)
|
|
(0.42
)
|
|
0.13
|
Total
from Investment Operations |
|
(1.67
)
|
|
(0.39
)
|
|
0.14
|
Less Distributions From: |
|
|
|
|
|
|
Net
investment income |
|
(0.06
)
|
|
(0.03
)
|
|
(0.01
)
|
Net
realized capital gains |
|
—
|
|
(0.13
)
|
|
—
|
Total
Distributions |
|
(0.06
)
|
|
(0.16
)
|
|
(0.01
)
|
Net
asset value, end of the period |
$ |
7.85
|
$ |
9.58
|
$ |
10.13
|
Total
return(b) |
|
(17.47
)%
|
|
(3.77
)%
|
|
1.38
%
(c) |
Ratios to Average Net
Assets: |
|
|
|
|
|
|
Net
assets, end of the period (000’s) |
$ |
21,331
|
$ |
22,953
|
$ |
15,206
|
Net
expenses(d) |
|
0.90
%
|
|
0.90
%
|
|
0.90
%
(e) |
Gross
expenses |
|
1.67
%
|
|
1.58
%
|
|
6.48
%
(e) |
Net
investment income |
|
0.62
%
|
|
0.29
%
|
|
1.43
%
(e) |
Portfolio
turnover rate |
|
11
%
|
|
9
%
|
|
1
%
|
* |
From
commencement of operations on December 15, 2020 through December 31,
2020. |
(a) |
Per
share net investment income has been calculated using the average shares
outstanding during the period. |
(b) |
Had
certain expenses not been waived/reimbursed during the period, total
returns would have been lower. |
(c) |
Periods
less than one year are not annualized. |
(d) |
The
investment adviser agreed to waive its fees and/or reimburse a portion of
the Fund’s expenses during the period. Without this waiver/reimbursement,
expenses would have
been higher. |
(e) |
Computed
on an annualized basis for periods less than one
year. |
|
Class Y | |||||
|
Year
Ended December 31, 2022 |
Year
Ended December 31, 2021 |
Period
Ended December 31, 2020* | |||
Net
asset value, beginning of the period |
$ |
9.58
|
$ |
10.13
|
$ |
10.00
|
Income (loss) from Investment
Operations: |
|
|
|
|
|
|
Net
investment income(a) |
|
0.04
|
|
0.02
|
|
0.01
|
Net
realized and unrealized gain (loss) |
|
(1.72
)
|
|
(0.41
)
|
|
0.13
|
Total
from Investment Operations |
|
(1.68
)
|
|
(0.39
)
|
|
0.14
|
Less Distributions From: |
|
|
|
|
|
|
Net
investment income |
|
(0.05
)
|
|
(0.03
)
|
|
(0.01
)
|
Net
realized capital gains |
|
—
|
|
(0.13
)
|
|
—
|
Total
Distributions |
|
(0.05
)
|
|
(0.16
)
|
|
(0.01
)
|
Net
asset value, end of the period |
$ |
7.85
|
$ |
9.58
|
$ |
10.13
|
Total
return(b) |
|
(17.50
)%
|
|
(3.81
)%
|
|
1.38
%
(c) |
Ratios to Average Net
Assets: |
|
|
|
|
|
|
Net
assets, end of the period (000’s) |
$ |
3,124
|
$ |
222
|
$ |
12
|
Net
expenses(d) |
|
0.95
%
|
|
0.95
%
|
|
0.95
%
(e) |
Gross
expenses |
|
1.80
%
|
|
2.46
%
|
|
12.58
%
(e) |
Net
investment income |
|
0.47
%
|
|
0.19
%
|
|
1.63
%
(e) |
Portfolio
turnover rate |
|
11
%
|
|
9
%
|
|
1
%
|
* |
From
commencement of operations on December 15, 2020 through December 31,
2020. |
(a) |
Per
share net investment income has been calculated using the average shares
outstanding during the period. |
(b) |
Had
certain expenses not been waived/reimbursed during the period, total
returns would have been lower. |
(c) |
Periods
less than one year are not annualized. |
(d) |
The
investment adviser agreed to waive its fees and/or reimburse a portion of
the Fund’s expenses during the period. Without this waiver/reimbursement,
expenses would have
been higher. |
(e) |
Computed
on an annualized basis for periods less than one
year. |
|
Class A | |||||||||||
|
Year
Ended December 31, 2022 |
Year
Ended December 31, 2021 |
Year
Ended December 31, 2020 |
Year
Ended December 31, 2019 |
Period
Ended December 31, 2018* |
Year
Ended September 30, 2018 | ||||||
Net
asset value, beginning of the period |
$ |
11.22
|
$ |
11.65
|
$ |
11.33
|
$ |
10.77
|
$ |
10.98
|
$ |
11.30
|
Income (loss) from Investment Operations: |
|
|
|
|
|
|
|
|
|
|
|
|
Net
investment income(a) |
|
0.28
|
|
0.26
|
|
0.32
|
|
0.35
|
|
0.08
|
|
0.30
|
Net
realized and unrealized gain (loss) |
|
(1.58
)
|
|
(0.26
)
|
|
0.94
|
|
0.58
|
|
(0.16
)
|
|
(0.28
)
|
Total
from Investment Operations |
|
(1.30
)
|
|
0.00
(b) |
|
1.26
|
|
0.93
|
|
(0.08
)
|
|
0.02
|
Less Distributions From: |
|
|
|
|
|
|
|
|
|
|
|
|
Net
investment income |
|
(0.28
)
|
|
(0.26
)
|
|
(0.32
)
|
|
(0.36
)
|
|
(0.08
)
|
|
(0.21
)
|
Net
realized capital gains |
|
(0.01
)
|
|
(0.17
)
|
|
(0.62
)
|
|
(0.01
)
|
|
(0.05
)
|
|
(0.13
)
|
Total
Distributions |
|
(0.29
)
|
|
(0.43
)
|
|
(0.94
)
|
|
(0.37
)
|
|
(0.13
)
|
|
(0.34
)
|
Net
asset value, end of the period |
$ |
9.63
|
$ |
11.22
|
$ |
11.65
|
$ |
11.33
|
$ |
10.77
|
$ |
10.98
|
Total
return(c)(d) |
|
(11.62
)%
|
|
0.07
%
|
|
11.41
%
|
|
8.78
%
|
|
(0.66
)%
(e) |
|
0.19
%
|
Ratios to Average Net Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
Net
assets, end of the period (000’s) |
$ |
641,311
|
$ |
793,271
|
$ |
872,976
|
$ |
772,485
|
$ |
721,110
|
$ |
777,391
|
Net
expenses(f) |
|
0.75
%
(g) |
|
0.75
%
|
|
0.76
%
(h) |
|
0.77
%
(i) |
|
0.78
%
(j) |
|
0.80
%
(k) |
Gross
expenses |
|
0.80
%
|
|
0.79
%
|
|
0.80
%
|
|
0.81
%
|
|
0.82
%
(j) |
|
0.82
%
|
Net
investment income |
|
2.71
%
|
|
2.24
%
|
|
2.73
%
|
|
3.10
%
|
|
3.09
%
(j) |
|
2.73
%
|
Portfolio
turnover rate |
|
31
%
|
|
27
%
|
|
70
%
(l) |
|
44
%
(m) |
|
39
%
(m) |
|
3
%
|
* |
For
the three month period ended December 31, 2018 due to change in fiscal
year end. |
(a) |
Per
share net investment income has been calculated using the average shares
outstanding during the period. |
(b) |
Amount
rounds to less than $0.01 per share. |
(c) |
A
sales charge for Class A shares is not reflected in total return
calculations. |
(d) |
Had
certain expenses not been waived/reimbursed during the period, total
returns would have been lower. |
(e) |
Periods
less than one year are not annualized. |
(f) |
The
investment adviser agreed to waive its fees and/or reimburse a portion of
the Fund’s expenses during the period. Without this waiver/reimbursement,
expenses would have
been higher. |
(g) |
Effective
July 1, 2022, the expense limit decreased from 0.75% to
0.74%. |
(h) |
Effective
July 1, 2020, the expense limit decreased from 0.76% to
0.75%. |
(i) |
Effective
July 1, 2019, the expense limit decreased from 0.78% to
0.76%. |
(j) |
Computed
on an annualized basis for periods less than one year. |
(k) |
Effective
July 1, 2018, the expense limit decreased to 0.78%. |
(l) |
The
variation in the Fund’s turnover rate from 2019 to 2020 was primarily due
to a significant repositioning of the portfolio as a result of increased
market volatility. |
(m) |
The
variation in the Fund’s turnover rate from the year ended September 30,
2018 to the period ended December 31, 2018 was primarily due to changes in
the investment strategy
and portfolio management team of the Fund. During 2019, turnover has
remained elevated due to a continued repositioning of the
Fund. |
|
Class C | |||||||||||
|
Year
Ended December 31, 2022 |
Year
Ended December 31, 2021 |
Year
Ended December 31, 2020 |
Year
Ended December 31, 2019 |
Period
Ended December 31, 2018* |
Year
Ended September 30, 2018 | ||||||
Net
asset value, beginning of the period |
$ |
11.07
|
$ |
11.51
|
$ |
11.20
|
$ |
10.65
|
$ |
10.86
|
$ |
11.19
|
Income (loss) from Investment Operations: |
|
|
|
|
|
|
|
|
|
|
|
|
Net
investment income(a) |
|
0.20
|
|
0.17
|
|
0.23
|
|
0.26
|
|
0.06
|
|
0.22
|
Net
realized and unrealized gain (loss) |
|
(1.55
)
|
|
(0.26
)
|
|
0.93
|
|
0.58
|
|
(0.16
)
|
|
(0.28
)
|
Total
from Investment Operations |
|
(1.35
)
|
|
(0.09
)
|
|
1.16
|
|
0.84
|
|
(0.10
)
|
|
(0.06
)
|
Less Distributions From: |
|
|
|
|
|
|
|
|
|
|
|
|
Net
investment income |
|
(0.20
)
|
|
(0.18
)
|
|
(0.23
)
|
|
(0.28
)
|
|
(0.06
)
|
|
(0.14
)
|
Net
realized capital gains |
|
(0.01
)
|
|
(0.17
)
|
|
(0.62
)
|
|
(0.01
)
|
|
(0.05
)
|
|
(0.13
)
|
Total
Distributions |
|
(0.21
)
|
|
(0.35
)
|
|
(0.85
)
|
|
(0.29
)
|
|
(0.11
)
|
|
(0.27
)
|
Net
asset value, end of the period |
$ |
9.51
|
$ |
11.07
|
$ |
11.51
|
$ |
11.20
|
$ |
10.65
|
$ |
10.86
|
Total
return(b)(c) |
|
(12.26
)%
|
|
(0.70
)%
|
|
10.61
%
|
|
7.94
%
|
|
(0.86
)%
(d) |
|
(0.53
)%
|
Ratios to Average Net Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
Net
assets, end of the period (000’s) |
$ |
56,520
|
$ |
80,099
|
$ |
132,606
|
$ |
204,395
|
$ |
366,068
|
$ |
412,788
|
Net
expenses(e) |
|
1.50
%
(f) |
|
1.50
%
|
|
1.51
%
(g) |
|
1.52
%
(h) |
|
1.53
%
(i) |
|
1.55
%
(j) |
Gross
expenses |
|
1.55
%
|
|
1.54
%
|
|
1.55
%
|
|
1.56
%
|
|
1.57
%
(i) |
|
1.57
%
|
Net
investment income |
|
1.94
%
|
|
1.50
%
|
|
2.01
%
|
|
2.35
%
|
|
2.34
%
(i) |
|
1.96
%
|
Portfolio
turnover rate |
|
31
%
|
|
27
%
|
|
70
%
(k) |
|
44
%
(l) |
|
39
%
(l) |
|
3
%
|
* |
For
the three month period ended December 31, 2018 due to change in fiscal
year end. |
(a) |
Per
share net investment income has been calculated using the average shares
outstanding during the period. |
(b) |
A
contingent deferred sales charge for Class C shares is not reflected in
total return calculations. |
(c) |
Had
certain expenses not been waived/reimbursed during the period, total
returns would have been lower. |
(d) |
Periods
less than one year are not annualized. |
(e) |
The
investment adviser agreed to waive its fees and/or reimburse a portion of
the Fund’s expenses during the period. Without this waiver/reimbursement,
expenses would have
been higher. |
(f) |
Effective
July 1, 2022, the expense limit decreased from 1.50% to
1.49%. |
(g) |
Effective
July 1, 2020, the expense limit decreased from 1.51% to
1.50%. |
(h) |
Effective
July 1, 2019, the expense limit decreased from 1.53% to
1.51%. |
(i) |
Computed
on an annualized basis for periods less than one year. |
(j) |
Effective
July 1, 2018, the expense limit decreased to 1.53%. |
(k) |
The
variation in the Fund’s turnover rate from 2019 to 2020 was primarily due
to a significant repositioning of the portfolio as a result of increased
market volatility. |
(l) |
The
variation in the Fund’s turnover rate from the year ended September 30,
2018 to the period ended December 31, 2018 was primarily due to changes in
the investment strategy
and portfolio management team of the Fund. During 2019, turnover has
remained elevated due to a continued repositioning of the
Fund. |
|
Class N | |||||||||||
|
Year
Ended December 31, 2022 |
Year
Ended December 31, 2021 |
Year
Ended December 31, 2020 |
Year
Ended December 31, 2019 |
Period
Ended December 31, 2018* |
Year
Ended September 30, 2018 | ||||||
Net
asset value, beginning of the period |
$ |
11.22
|
$ |
11.65
|
$ |
11.33
|
$ |
10.78
|
$ |
10.98
|
$ |
11.30
|
Income (loss) from Investment Operations: |
|
|
|
|
|
|
|
|
|
|
|
|
Net
investment income(a) |
|
0.31
|
|
0.29
|
|
0.35
|
|
0.38
|
|
0.09
|
|
0.34
|
Net
realized and unrealized gain (loss) |
|
(1.57
)
|
|
(0.25
)
|
|
0.94
|
|
0.58
|
|
(0.15
)
|
|
(0.28
)
|
Total
from Investment Operations |
|
(1.26
)
|
|
0.04
|
|
1.29
|
|
0.96
|
|
(0.06
)
|
|
0.06
|
Less Distributions From: |
|
|
|
|
|
|
|
|
|
|
|
|
Net
investment income |
|
(0.31
)
|
|
(0.30
)
|
|
(0.35
)
|
|
(0.40
)
|
|
(0.09
)
|
|
(0.25
)
|
Net
realized capital gains |
|
(0.01
)
|
|
(0.17
)
|
|
(0.62
)
|
|
(0.01
)
|
|
(0.05
)
|
|
(0.13
)
|
Total
Distributions |
|
(0.32
)
|
|
(0.47
)
|
|
(0.97
)
|
|
(0.41
)
|
|
(0.14
)
|
|
(0.38
)
|
Net
asset value, end of the period |
$ |
9.64
|
$ |
11.22
|
$ |
11.65
|
$ |
11.33
|
$ |
10.78
|
$ |
10.98
|
Total
return |
|
(11.26
)%
(b) |
|
0.37
%
(b) |
|
11.74
%
(b) |
|
9.11
%
|
|
(0.58
)%
(c) |
|
0.50
%
|
Ratios to Average Net Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
Net
assets, end of the period (000’s) |
$ |
1,348,621
|
$ |
1,473,020
|
$ |
1,188,772
|
$ |
1,367,172
|
$ |
1,216,690
|
$ |
1,251,189
|
Net
expenses |
|
0.45
%
(d)(e) |
|
0.45
%
(d) |
|
0.46
%
(d)(f) |
|
0.47
%
(g) |
|
0.48
%
(h) |
|
0.47
%
(i) |
Gross
expenses |
|
0.47
%
|
|
0.47
%
|
|
0.47
%
|
|
0.47
%
|
|
0.48
%
(h) |
|
0.47
%
|
Net
investment income |
|
3.02
%
|
|
2.53
%
|
|
3.04
%
|
|
3.40
%
|
|
3.40
%
(h) |
|
3.05
%
|
Portfolio
turnover rate |
|
31
%
|
|
27
%
|
|
70
%
(j) |
|
44
%
(k) |
|
39
%
(k) |
|
3
%
|
* |
For
the three month period ended December 31, 2018 due to change in fiscal
year end. |
(a) |
Per
share net investment income has been calculated using the average shares
outstanding during the period. |
(b) |
Had
certain expenses not been waived/reimbursed during the period, total
returns would have been lower. |
(c) |
Periods
less than one year are not annualized. |
(d) |
The
investment adviser agreed to waive its fees and/or reimburse a portion of
the Fund’s expenses during the period. Without this waiver/reimbursement,
expenses would have
been higher. |
(e) |
Effective
July 1, 2022, the expense limit decreased from 0.45% to
0.44%. |
(f) |
Effective
July 1, 2020, the expense limit decreased from 0.46% to
0.45%. |
(g) |
Effective
July 1, 2019, the expense limit decreased from 0.48% to
0.46%. |
(h) |
Computed
on an annualized basis for periods less than one year. |
(i) |
Effective
July 1, 2018, the expense limit decreased to 0.48%. |
(j) |
The
variation in the Fund’s turnover rate from 2019 to 2020 was primarily due
to a significant repositioning of the portfolio as a result of increased
market volatility. |
(k) |
The
variation in the Fund’s turnover rate from the year ended September 30,
2018 to the period ended December 31, 2018 was primarily due to changes in
the investment strategy
and portfolio management team of the Fund. During 2019, turnover has
remained elevated due to a continued repositioning of the
Fund. |
|
Class Y | |||||||||||
|
Year
Ended December 31, 2022 |
Year
Ended December 31, 2021 |
Year
Ended December 31, 2020 |
Year
Ended December 31, 2019 |
Period
Ended December 31, 2018* |
Year
Ended September 30, 2018 | ||||||
Net
asset value, beginning of the period |
$ |
11.22
|
$ |
11.66
|
$ |
11.34
|
$ |
10.78
|
$ |
10.99
|
$ |
11.31
|
Income (loss) from Investment Operations: |
|
|
|
|
|
|
|
|
|
|
|
|
Net
investment income(a) |
|
0.30
|
|
0.29
|
|
0.35
|
|
0.37
|
|
0.09
|
|
0.33
|
Net
realized and unrealized gain (loss) |
|
(1.56
)
|
|
(0.27
)
|
|
0.94
|
|
0.59
|
|
(0.16
)
|
|
(0.28
)
|
Total
from Investment Operations |
|
(1.26
)
|
|
0.02
|
|
1.29
|
|
0.96
|
|
(0.07
)
|
|
0.05
|
Less Distributions From: |
|
|
|
|
|
|
|
|
|
|
|
|
Net
investment income |
|
(0.31
)
|
|
(0.29
)
|
|
(0.35
)
|
|
(0.39
)
|
|
(0.09
)
|
|
(0.24
)
|
Net
realized capital gains |
|
(0.01
)
|
|
(0.17
)
|
|
(0.62
)
|
|
(0.01
)
|
|
(0.05
)
|
|
(0.13
)
|
Total
Distributions |
|
(0.32
)
|
|
(0.46
)
|
|
(0.97
)
|
|
(0.40
)
|
|
(0.14
)
|
|
(0.37
)
|
Net
asset value, end of the period |
$ |
9.64
|
$ |
11.22
|
$ |
11.66
|
$ |
11.34
|
$ |
10.78
|
$ |
10.99
|
Total
return(b) |
|
(11.31
)%
|
|
0.24
%
|
|
11.68
%
|
|
9.04
%
|
|
(0.59
)%
(c) |
|
0.43
%
|
Ratios to Average Net Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
Net
assets, end of the period (000’s) |
$ |
4,833,608
|
$ |
3,920,635
|
$ |
3,704,948
|
$ |
3,118,505
|
$ |
2,912,537
|
$ |
3,001,906
|
Net
expenses(d) |
|
0.49
%
(e) |
|
0.50
%
|
|
0.51
%
(f) |
|
0.52
%
(g) |
|
0.53
%
(h) |
|
0.55
%
(i) |
Gross
expenses |
|
0.55
%
|
|
0.54
%
|
|
0.55
%
|
|
0.56
%
|
|
0.57
%
(h) |
|
0.57
%
|
Net
investment income |
|
3.01
%
|
|
2.49
%
|
|
2.98
%
|
|
3.35
%
|
|
3.35
%
(h) |
|
2.98
%
|
Portfolio
turnover rate |
|
31
%
|
|
27
%
|
|
70
%
(j) |
|
44
%
(k) |
|
39
%
(k) |
|
3
%
|
* |
For
the three month period ended December 31, 2018 due to change in fiscal
year end. |
(a) |
Per
share net investment income has been calculated using the average shares
outstanding during the period. |
(b) |
Had
certain expenses not been waived/reimbursed during the period, total
returns would have been lower. |
(c) |
Periods
less than one year are not annualized. |
(d) |
The
investment adviser agreed to waive its fees and/or reimburse a portion of
the Fund’s expenses during the period. Without this waiver/reimbursement,
expenses would have
been higher. |
(e) |
Effective
July 1, 2022, the expense limit decreased from 0.50% to
0.49%. |
(f) |
Effective
July 1, 2020, the expense limit decreased from 0.51% to
0.50%. |
(g) |
Effective
July 1, 2019, the expense limit decreased from 0.53% to
0.51%. |
(h) |
Computed
on an annualized basis for periods less than one year. |
(i) |
Effective
July 1, 2018, the expense limit decreased to 0.53%. |
(j) |
The
variation in the Fund’s turnover rate from 2019 to 2020 was primarily due
to a significant repositioning of the portfolio as a result of increased
market volatility. |
(k) |
The
variation in the Fund’s turnover rate from the year ended September 30,
2018 to the period ended December 31, 2018 was primarily due to changes in
the investment strategy
and portfolio management team of the Fund. During 2019, turnover has
remained elevated due to a continued repositioning of the
Fund. |
|
Admin Class | |||||||||||
|
Year
Ended December 31, 2022 |
Year
Ended December 31, 2021 |
Year
Ended December 31, 2020 |
Year
Ended December 31, 2019 |
Period
Ended December 31, 2018* |
Year
Ended September 30, 2018 | ||||||
Net
asset value, beginning of the period |
$ |
11.18
|
$ |
11.62
|
$ |
11.30
|
$ |
10.75
|
$ |
10.95
|
$ |
11.28
|
Income (loss) from Investment Operations: |
|
|
|
|
|
|
|
|
|
|
|
|
Net
investment income(a) |
|
0.25
|
|
0.23
|
|
0.29
|
|
0.32
|
|
0.08
|
|
0.28
|
Net
realized and unrealized gain (loss) |
|
(1.56
)
|
|
(0.26
)
|
|
0.94
|
|
0.58
|
|
(0.15
)
|
|
(0.28
)
|
Total
from Investment Operations |
|
(1.31
)
|
|
(0.03
)
|
|
1.23
|
|
0.90
|
|
(0.07
)
|
|
0.00
(b) |
Less Distributions From: |
|
|
|
|
|
|
|
|
|
|
|
|
Net
investment income |
|
(0.26
)
|
|
(0.24
)
|
|
(0.29
)
|
|
(0.34
)
|
|
(0.08
)
|
|
(0.20
)
|
Net
realized capital gains |
|
(0.01
)
|
|
(0.17
)
|
|
(0.62
)
|
|
(0.01
)
|
|
(0.05
)
|
|
(0.13
)
|
Total
Distributions |
|
(0.27
)
|
|
(0.41
)
|
|
(0.91
)
|
|
(0.35
)
|
|
(0.13
)
|
|
(0.33
)
|
Net
asset value, end of the period |
$ |
9.60
|
$ |
11.18
|
$ |
11.62
|
$ |
11.30
|
$ |
10.75
|
$ |
10.95
|
Total
return(c) |
|
(11.80
)%
|
|
(0.26
)%
|
|
11.17
%
|
|
8.43
%
|
|
(0.63
)%
(d) |
|
(0.07
)%
|
Ratios to Average Net Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
Net
assets, end of the period (000’s) |
$ |
122,710
|
$ |
139,169
|
$ |
125,460
|
$ |
111,439
|
$ |
111,864
|
$ |
115,301
|
Net
expenses(e) |
|
1.00
%
(f) |
|
1.00
%
|
|
1.01
%
(g) |
|
1.02
%
(h) |
|
1.03
%
(i) |
|
1.02
%
(j)(k) |
Gross
expenses |
|
1.05
%
|
|
1.04
%
|
|
1.05
%
|
|
1.06
%
|
|
1.07
%
(i) |
|
1.05
%
(k) |
Net
investment income |
|
2.47
%
|
|
1.98
%
|
|
2.48
%
|
|
2.85
%
|
|
2.85
%
(i) |
|
2.56
%
|
Portfolio
turnover rate |
|
31
%
|
|
27
%
|
|
70
%
(l) |
|
44
%
(m) |
|
39
%
(m) |
|
3
%
|
* |
For
the three month period ended December 31, 2018 due to change in fiscal
year end. |
(a) |
Per
share net investment income has been calculated using the average shares
outstanding during the period. |
(b) |
Amount
rounds to less than $0.01 per share. |
(c) |
Had
certain expenses not been waived/reimbursed during the period, total
returns would have been lower. |
(d) |
Periods
less than one year are not annualized. |
(e) |
The
investment adviser agreed to waive its fees and/or reimburse a portion of
the Fund’s expenses during the period. Without this waiver/reimbursement,
expenses would have
been higher. |
(f) |
Effective
July 1, 2022, the expense limit decreased from 1.00% to
0.99%. |
(g) |
Effective
July 1, 2020, the expense limit decreased from 1.01% to
1.00%. |
(h) |
Effective
July 1, 2019, the expense limit decreased from 1.03% to
1.01%. |
(i) |
Computed
on an annualized basis for periods less than one year. |
(j) |
Effective
July 1, 2018, the expense limit decreased to 1.03%. |
(k) |
Includes
refund of prior year service fee of 0.02%. |
(l) |
The
variation in the Fund’s turnover rate from 2019 to 2020 was primarily due
to a significant repositioning of the portfolio as a result of increased
market volatility. |
(m) |
The
variation in the Fund’s turnover rate from the year ended September 30,
2018 to the period ended December 31, 2018 was primarily due to changes in
the investment strategy
and portfolio management team of the Fund. During 2019, turnover has
remained elevated due to a continued repositioning of the
Fund. |
|
Class A | |||||||||
|
Year
Ended December 31, 2022 |
Year
Ended December 31, 2021 |
Year
Ended December 31, 2020 |
Year
Ended December 31, 2019 |
Year
Ended December 31, 2018 | |||||
Net
asset value, beginning of the period |
$ |
10.34
|
$ |
10.43
|
$ |
9.69
|
$ |
9.62
|
$ |
9.92
|
Income (loss) from Investment
Operations: |
|
|
|
|
|
|
|
|
|
|
Net
investment income(a) |
|
0.34
|
|
0.26
|
|
0.28
|
|
0.30
|
|
0.33
|
Net
realized and unrealized gain (loss) |
|
(1.20
)
|
|
(0.15
)
|
|
0.67
|
|
0.04
|
|
(0.30
)
|
Total
from Investment Operations |
|
(0.86
)
|
|
0.11
|
|
0.95
|
|
0.34
|
|
0.03
|
Less Distributions From: |
|
|
|
|
|
|
|
|
|
|
Net
investment income |
|
(0.34
)
|
|
(0.20
)
|
|
(0.21
)
|
|
(0.27
)
|
|
(0.33
)
|
Net
asset value, end of the period |
$ |
9.14
|
$ |
10.34
|
$ |
10.43
|
$ |
9.69
|
$ |
9.62
|
Total
return(b) |
|
(8.29
)%
|
|
1.07
%
|
|
9.97
%
|
|
3.58
%
|
|
0.39
%
|
Ratios to Average Net
Assets: |
|
|
|
|
|
|
|
|
|
|
Net
assets, end of the period (000’s) |
$ |
29,797
|
$ |
41,765
|
$ |
36,067
|
$ |
48,815
|
$ |
36,528
|
Net
expenses |
|
1.00
%
|
|
0.97
%
|
|
0.99
%
|
|
0.99
%
|
|
1.00
%
(c) |
Gross
expenses |
|
1.00
%
|
|
0.97
%
|
|
0.99
%
|
|
0.99
%
|
|
1.00
%
(c) |
Net
investment income |
|
3.59
%
|
|
2.45
%
|
|
2.81
%
|
|
3.10
%
|
|
3.29
%
|
Portfolio
turnover rate |
|
46
%
(d) |
|
218
%
(d) |
|
498
%
|
|
414
%
|
|
379
%
|
(a) |
Per
share net investment income has been calculated using the average shares
outstanding during the period. |
(b) |
A
sales charge for Class A shares is not reflected in total return
calculations. |
(c) |
Includes
fee/expense recovery of less than 0.01%. |
(d) |
The
variation in the Fund’s turnover rate from 2020 to 2021 was primarily due
to a decrease in trading volume and shareholder flows which has continued
through 2022. |
|
Class C | |||||||||
|
Year
Ended December 31, 2022 |
Year
Ended December 31, 2021 |
Year
Ended December 31, 2020 |
Year
Ended December 31, 2019 |
Year
Ended December 31, 2018 | |||||
Net
asset value, beginning of the period |
$ |
10.32
|
$ |
10.40
|
$ |
9.66
|
$ |
9.58
|
$ |
9.88
|
Income (loss) from Investment
Operations: |
|
|
|
|
|
|
|
|
|
|
Net
investment income(a) |
|
0.27
|
|
0.18
|
|
0.21
|
|
0.23
|
|
0.26
|
Net
realized and unrealized gain (loss) |
|
(1.19
)
|
|
(0.15
)
|
|
0.66
|
|
0.04
|
|
(0.31
)
|
Total
from Investment Operations |
|
(0.92
)
|
|
0.03
|
|
0.87
|
|
0.27
|
|
(0.05
)
|
Less Distributions From: |
|
|
|
|
|
|
|
|
|
|
Net
investment income |
|
(0.27
)
|
|
(0.11
)
|
|
(0.13
)
|
|
(0.19
)
|
|
(0.25
)
|
Net
asset value, end of the period |
$ |
9.13
|
$ |
10.32
|
$ |
10.40
|
$ |
9.66
|
$ |
9.58
|
Total
return(b) |
|
(8.90
)%
|
|
0.30
%
|
|
9.12
%
|
|
2.87
%
(c) |
|
(0.42
)%
|
Ratios to Average Net
Assets: |
|
|
|
|
|
|
|
|
|
|
Net
assets, end of the period (000’s) |
$ |
3,309
|
$ |
4,266
|
$ |
8,962
|
$ |
16,337
|
$ |
26,883
|
Net
expenses |
|
1.75
%
|
|
1.73
%
|
|
1.74
%
|
|
1.73
%
(d) |
|
1.75
%
(e) |
Gross
expenses |
|
1.75
%
|
|
1.73
%
|
|
1.74
%
|
|
1.74
%
|
|
1.75
%
(e) |
Net
investment income |
|
2.84
%
|
|
1.68
%
|
|
2.14
%
|
|
2.33
%
|
|
2.61
%
|
Portfolio
turnover rate |
|
46
%
(f) |
|
218
%
(f) |
|
498
%
|
|
414
%
|
|
379
%
|
(a) |
Per
share net investment income has been calculated using the average shares
outstanding during the period. |
(b) |
A
contingent deferred sales charge for Class C shares is not reflected in
total return calculations. |
(c) |
Had
certain expenses not been waived/reimbursed during the period, total
returns would have been lower. |
(d) |
The
administrator agreed to waive its fees and/or reimburse a portion of the
Fund’s expenses during the period. Without this waiver/reimbursement,
expenses would have been
higher. |
(e) |
Includes
fee/expense recovery of less than 0.01%. |
(f) |
The
variation in the Fund’s turnover rate from 2020 to 2021 was primarily due
to a decrease in trading volume and shareholder flows which has continued
through 2022. |
|
Class N | |||||||||
|
Year
Ended December 31, 2022 |
Year
Ended December 31, 2021 |
Year
Ended December 31, 2020 |
Year
Ended December 31, 2019 |
Year
Ended December 31, 2018 | |||||
Net
asset value, beginning of the period |
$ |
10.32
|
$ |
10.41
|
$ |
9.67
|
$ |
9.60
|
$ |
9.90
|
Income (loss) from Investment
Operations: |
|
|
|
|
|
|
|
|
|
|
Net
investment income(a) |
|
0.37
|
|
0.29
|
|
0.31
|
|
0.33
|
|
0.34
|
Net
realized and unrealized gain (loss) |
|
(1.19
)
|
|
(0.15
)
|
|
0.67
|
|
0.04
|
|
(0.28
)
|
Total
from Investment Operations |
|
(0.82
)
|
|
0.14
|
|
0.98
|
|
0.37
|
|
0.06
|
Less Distributions From: |
|
|
|
|
|
|
|
|
|
|
Net
investment income |
|
(0.38
)
|
|
(0.23
)
|
|
(0.24
)
|
|
(0.30
)
|
|
(0.36
)
|
Net
asset value, end of the period |
$ |
9.12
|
$ |
10.32
|
$ |
10.41
|
$ |
9.67
|
$ |
9.60
|
Total
return |
|
(8.00
)%
|
|
1.38
%
|
|
10.36
%
|
|
3.92
%
|
|
0.68
%
|
Ratios to Average Net
Assets: |
|
|
|
|
|
|
|
|
|
|
Net
assets, end of the period (000’s) |
$ |
164,264
|
$ |
484,005
|
$ |
527,494
|
$ |
297,300
|
$ |
255,226
|
Net
expenses |
|
0.69
%
|
|
0.67
%
|
|
0.68
%
|
|
0.67
%
|
|
0.70
%
(b) |
Gross
expenses |
|
0.69
%
|
|
0.67
%
|
|
0.68
%
|
|
0.67
%
|
|
0.70
%
(b) |
Net
investment income |
|
3.81
%
|
|
2.74
%
|
|
3.13
%
|
|
3.39
%
|
|
3.44
%
|
Portfolio
turnover rate |
|
46
%
(c) |
|
218
%
(c) |
|
498
%
|
|
414
%
|
|
379
%
|
(a) |
Per
share net investment income has been calculated using the average shares
outstanding during the period. |
(b) |
Includes
fee/expense recovery of 0.01%. |
(c) |
The
variation in the Fund’s turnover rate from 2020 to 2021 was primarily due
to a decrease in trading volume and shareholder flows which has continued
through 2022. |
|
Class Y | |||||||||
|
Year
Ended December 31, 2022 |
Year
Ended December 31, 2021 |
Year
Ended December 31, 2020 |
Year
Ended December 31, 2019 |
Year
Ended December 31, 2018 | |||||
Net
asset value, beginning of the period |
$ |
10.31
|
$ |
10.41
|
$ |
9.67
|
$ |
9.59
|
$ |
9.90
|
Income (loss) from Investment
Operations: |
|
|
|
|
|
|
|
|
|
|
Net
investment income(a) |
|
0.37
|
|
0.28
|
|
0.30
|
|
0.32
|
|
0.35
|
Net
realized and unrealized gain (loss) |
|
(1.19
)
|
|
(0.15
)
|
|
0.68
|
|
0.06
|
|
(0.31
)
|
Total
from Investment Operations |
|
(0.82
)
|
|
0.13
|
|
0.98
|
|
0.38
|
|
0.04
|
Less Distributions From: |
|
|
|
|
|
|
|
|
|
|
Net
investment income |
|
(0.37
)
|
|
(0.23
)
|
|
(0.24
)
|
|
(0.30
)
|
|
(0.35
)
|
Net
asset value, end of the period |
$ |
9.12
|
$ |
10.31
|
$ |
10.41
|
$ |
9.67
|
$ |
9.59
|
Total
return |
|
(7.97
)%
|
|
1.32
%
|
|
10.19
%
|
|
3.96
%
|
|
0.53
%
|
Ratios to Average Net
Assets: |
|
|
|
|
|
|
|
|
|
|
Net
assets, end of the period (000’s) |
$ |
650,242
|
$ |
930,815
|
$ |
742,493
|
$ |
938,271
|
$ |
1,186,322
|
Net
expenses |
|
0.75
%
|
|
0.72
%
|
|
0.74
%
|
|
0.74
%
|
|
0.75
%
(b) |
Gross
expenses |
|
0.75
%
|
|
0.72
%
|
|
0.74
%
|
|
0.74
%
|
|
0.75
%
(b) |
Net
investment income |
|
3.83
%
|
|
2.70
%
|
|
3.05
%
|
|
3.33
%
|
|
3.51
%
|
Portfolio
turnover rate |
|
46
%
(c) |
|
218
%
(c) |
|
498
%
|
|
414
%
|
|
379
%
|
(a) |
Per
share net investment income has been calculated using the average shares
outstanding during the period. |
(b) |
Includes
fee/expense recovery of less than 0.01%. |
(c) |
The
variation in the Fund’s turnover rate from 2020 to 2021 was primarily due
to a decrease in trading volume and shareholder flows which has continued
through 2022. |
|
Class A | |||||||||||
|
Year
Ended December 31, 2022 |
Year
Ended December 31, 2021 |
Period
Ended December 31, 2020* |
Year
Ended September 30, 2020 |
Year
Ended September 30, 2019 |
Year
Ended September 30, 2018 | ||||||
Net
asset value, beginning of the period |
$ |
14.19
|
$ |
14.03
|
$ |
13.58
|
$ |
14.25
|
$ |
14.39
|
$ |
14.84
|
Income (loss) from Investment Operations: |
|
|
|
|
|
|
|
|
|
|
|
|
Net
investment income(a) |
|
0.44
|
|
0.26
|
|
0.10
|
|
0.47
|
|
0.57
|
|
0.52
|
Net
realized and unrealized gain (loss) |
|
(2.24
)
|
|
0.27
|
|
0.63
|
|
(0.66
)
|
|
(0.16
)
|
|
(0.33
)
|
Total
from Investment Operations |
|
(1.80
)
|
|
0.53
|
|
0.73
|
|
(0.19
)
|
|
0.41
|
|
0.19
|
Less Distributions From: |
|
|
|
|
|
|
|
|
|
|
|
|
Net
investment income |
|
(0.74
)
|
|
(0.37
)
|
|
(0.16
)
|
|
(0.45
)
|
|
(0.48
)
|
|
(0.57
)
|
Net
realized capital gains |
|
—
|
|
—
|
|
(0.12
)
|
|
(0.03
)
|
|
(0.07
)
|
|
(0.07
)
|
Total
Distributions |
|
(0.74
)
|
|
(0.37
)
|
|
(0.28
)
|
|
(0.48
)
|
|
(0.55
)
|
|
(0.64
)
|
Net
asset value, end of the period |
$ |
11.65
|
$ |
14.19
|
$ |
14.03
|
$ |
13.58
|
$ |
14.25
|
$ |
14.39
|
Total
return(b) |
|
(12.80
)%
(c) |
|
3.85
%
(c) |
|
5.37
%
(d) |
|
(1.39
)%
|
|
3.02
%
|
|
1.34
%
|
Ratios to Average Net Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
Net
assets, end of the period (000’s) |
$ |
1,067,151
|
$ |
1,512,939
|
$ |
1,682,562
|
$ |
1,683,547
|
$ |
1,835,813
|
$ |
1,986,300
|
Net
expenses |
|
0.95
%
(e)(f) |
|
0.96
%
(e)(g) |
|
0.97
%
(h) |
|
0.97
%
(i) |
|
0.96
%
|
|
0.96
%
|
Gross
expenses |
|
0.98
%
|
|
0.97
%
|
|
0.97
%
(h) |
|
0.97
%
|
|
0.96
%
|
|
0.96
%
|
Net
investment income |
|
3.45
%
|
|
1.85
%
|
|
2.78
%
(h) |
|
3.42
%
|
|
4.03
%
|
|
3.57
%
|
Portfolio
turnover rate |
|
23
%
|
|
99
%
(j) |
|
30
%
(k) |
|
30
%
|
|
13
%
|
|
6
%
|
* |
For
the three month period ended December 31, 2020 due to change in fiscal
year. |
(a) |
Per
share net investment income has been calculated using the average shares
outstanding during the period. |
(b) |
A
sales charge for Class A shares is not reflected in total return
calculations. |
(c) |
Had
certain expenses not been waived/reimbursed during the period, total
returns would have been lower. |
(d) |
Periods
less than one year are not annualized. |
(e) |
The
investment adviser agreed to waive its fees and/or reimburse a portion of
the Fund’s expenses during the period. Without this waiver/reimbursement,
expenses would have
been higher. |
(f) |
Effective
July 1, 2021, the expense limit decreased from 0.95% to
0.94%. |
(g) |
Effective
July 1, 2021, the expense limit decreased from 1.00% to
0.95%. |
(h) |
Computed
on an annualized basis for periods less than one year. |
(i) |
Effective
July 1, 2020, the expense limit decreased from 1.25% to
1.00%. |
(j) |
The
variation in the Fund’s turnover rate from the year ended September 30,
2020 to the year ended December 31, 2021 was primarily due to a
repositioning of the portfolio. |
(k) |
The
variation in the Fund’s turnover rate, if annualized, from the year ended
September 30, 2020 to the period ended December 31, 2020 was primarily due
to the disposition and
realignment of certain foreign currency-denominated
positions. |
|
Class C | |||||||||||
|
Year
Ended December 31, 2022 |
Year
Ended December 31, 2021 |
Period
Ended December 31, 2020* |
Year
Ended September 30, 2020 |
Year
Ended September 30, 2019 |
Year
Ended September 30, 2018 | ||||||
Net
asset value, beginning of the period |
$ |
14.36
|
$ |
14.18
|
$ |
13.72
|
$ |
14.39
|
$ |
14.52
|
$ |
14.97
|
Income (loss) from Investment Operations: |
|
|
|
|
|
|
|
|
|
|
|
|
Net
investment income(a) |
|
0.34
|
|
0.16
|
|
0.07
|
|
0.38
|
|
0.47
|
|
0.41
|
Net
realized and unrealized gain (loss) |
|
(2.26
)
|
|
0.28
|
|
0.64
|
|
(0.68
)
|
|
(0.16
)
|
|
(0.33
)
|
Total
from Investment Operations |
|
(1.92
)
|
|
0.44
|
|
0.71
|
|
(0.30
)
|
|
0.31
|
|
0.08
|
Less Distributions From: |
|
|
|
|
|
|
|
|
|
|
|
|
Net
investment income |
|
(0.64
)
|
|
(0.26
)
|
|
(0.13
)
|
|
(0.34
)
|
|
(0.37
)
|
|
(0.46
)
|
Net
realized capital gains |
|
—
|
|
—
|
|
(0.12
)
|
|
(0.03
)
|
|
(0.07
)
|
|
(0.07
)
|
Total
Distributions |
|
(0.64
)
|
|
(0.26
)
|
|
(0.25
)
|
|
(0.37
)
|
|
(0.44
)
|
|
(0.53
)
|
Net
asset value, end of the period |
$ |
11.80
|
$ |
14.36
|
$ |
14.18
|
$ |
13.72
|
$ |
14.39
|
$ |
14.52
|
Total
return(b) |
|
(13.48
)%
(c) |
|
3.13
%
(c) |
|
5.17
%
(d) |
|
(2.18
)%
|
|
2.27
%
|
|
0.60
%
|
Ratios to Average Net Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
Net
assets, end of the period (000’s) |
$ |
52,977
|
$ |
120,091
|
$ |
259,780
|
$ |
277,896
|
$ |
676,602
|
$ |
1,153,853
|
Net
expenses |
|
1.70
%
(e)(f) |
|
1.71
%
(e)(g) |
|
1.72
%
(h) |
|
1.72
%
(i) |
|
1.71
%
|
|
1.71
%
|
Gross
expenses |
|
1.73
%
|
|
1.72
%
|
|
1.72
%
(h) |
|
1.72
%
|
|
1.71
%
|
|
1.71
%
|
Net
investment income |
|
2.62
%
|
|
1.12
%
|
|
2.04
%
(h) |
|
2.75
%
|
|
3.30
%
|
|
2.79
%
|
Portfolio
turnover rate |
|
23
%
|
|
99
%
(j) |
|
30
%
(k) |
|
30
%
|
|
13
%
|
|
6
%
|
* |
For
the three month period ended December 31, 2020 due to change in fiscal
year. |
(a) |
Per
share net investment income has been calculated using the average shares
outstanding during the period. |
(b) |
A
contingent deferred sales charge for Class C shares is not reflected in
total return calculations. |
(c) |
Had
certain expenses not been waived/reimbursed during the period, total
returns would have been lower. |
(d) |
Periods
less than one year are not annualized. |
(e) |
The
investment adviser agreed to waive its fees and/or reimburse a portion of
the Fund’s expenses during the period. Without this waiver/reimbursement,
expenses would have
been higher. |
(f) |
Effective
July 1, 2022, the expense limit decreased from 1.70% to
1.69%. |
(g) |
Effective
July 1, 2021, the expense limit decreased from 1.75% to
1.70%. |
(h) |
Computed
on an annualized basis for periods less than one year. |
(i) |
Effective
July 1, 2020, the expense limit decreased from 2.00% to
1.75%. |
(j) |
The
variation in the Fund’s turnover rate from the year ended September 30,
2020 to the year ended December 31, 2021 was primarily due to a
repositioning of the portfolio. |
(k) |
The
variation in the Fund’s turnover rate, if annualized, from the year ended
September 30, 2020 to the period ended December 31, 2020 was primarily due
to the disposition and
realignment of certain foreign currency-denominated
positions. |
|
Class N | |||||||||||
|
Year
Ended December 31, 2022 |
Year
Ended December 31, 2021 |
Period
Ended December 31, 2020* |
Year
Ended September 30, 2020 |
Year
Ended September 30, 2019 |
Year
Ended September 30, 2018 | ||||||
Net
asset value, beginning of the period |
$ |
14.17
|
$ |
14.01
|
$ |
13.57
|
$ |
14.24
|
$ |
14.38
|
$ |
14.83
|
Income (loss) from Investment Operations: |
|
|
|
|
|
|
|
|
|
|
|
|
Net
investment income(a) |
|
0.47
|
|
0.31
|
|
0.11
|
|
0.52
|
|
0.61
|
|
0.56
|
Net
realized and unrealized gain (loss) |
|
(2.23
)
|
|
0.27
|
|
0.62
|
|
(0.66
)
|
|
(0.16
)
|
|
(0.32
)
|
Total
from Investment Operations |
|
(1.76
)
|
|
0.58
|
|
0.73
|
|
(0.14
)
|
|
0.45
|
|
0.24
|
Less Distributions From: |
|
|
|
|
|
|
|
|
|
|
|
|
Net
investment income |
|
(0.78
)
|
|
(0.42
)
|
|
(0.17
)
|
|
(0.50
)
|
|
(0.52
)
|
|
(0.62
)
|
Net
realized capital gains |
|
—
|
|
—
|
|
(0.12
)
|
|
(0.03
)
|
|
(0.07
)
|
|
(0.07
)
|
Total
Distributions |
|
(0.78
)
|
|
(0.42
)
|
|
(0.29
)
|
|
(0.53
)
|
|
(0.59
)
|
|
(0.69
)
|
Net
asset value, end of the period |
$ |
11.63
|
$ |
14.17
|
$ |
14.01
|
$ |
13.57
|
$ |
14.24
|
$ |
14.38
|
Total
return |
|
(12.55
)%
|
|
4.19
%
|
|
5.39
%
(b) |
|
(1.06
)%
|
|
3.37
%
|
|
1.67
%
|
Ratios to Average Net Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
Net
assets, end of the period (000’s) |
$ |
220,229
|
$ |
280,661
|
$ |
247,697
|
$ |
212,804
|
$ |
202,989
|
$ |
176,456
|
Net
expenses |
|
0.64
%
(c) |
|
0.65
%
(d) |
|
0.65
%
(e) |
|
0.64
%
(f) |
|
0.63
%
|
|
0.63
%
|
Gross
expenses |
|
0.64
%
|
|
0.65
%
|
|
0.65
%
(e) |
|
0.64
%
|
|
0.63
%
|
|
0.63
%
|
Net
investment income |
|
3.77
%
|
|
2.17
%
|
|
3.13
%
(e) |
|
3.77
%
|
|
4.36
%
|
|
3.91
%
|
Portfolio
turnover rate |
|
23
%
|
|
99
%
(g) |
|
30
%
(h) |
|
30
%
|
|
13
%
|
|
6
%
|
* |
For
the three month period ended December 31, 2020 due to change in fiscal
year. |
(a) |
Per
share net investment income has been calculated using the average shares
outstanding during the period. |
(b) |
Periods
less than one year are not annualized. |
(c) |
Effective
July 1, 2022, the expense limit decreased from 0.65% to
0.64%. |
(d) |
Effective
July 1, 2021, the expense limit decreased from 0.70% to
0.65%. |
(e) |
Computed
on an annualized basis for periods less than one year. |
(f) |
Effective
July 1, 2020, the expense limit decreased from 0.95% to
0.70%. |
(g) |
The
variation in the Fund’s turnover rate from the year ended September 30,
2020 to the year ended December 31, 2021 was primarily due to a
repositioning of the portfolio. |
(h) |
The
variation in the Fund’s turnover rate, if annualized, from the year ended
September 30, 2020 to the period ended December 31, 2020 was primarily due
to the disposition and
realignment of certain foreign currency-denominated
positions. |
|
Class Y | |||||||||||
|
Year
Ended December 31, 2022 |
Year
Ended December 31, 2021 |
Period
Ended December 31, 2020* |
Year
Ended September 30, 2020 |
Year
Ended September 30, 2019 |
Year
Ended September 30, 2018 | ||||||
Net
asset value, beginning of the period |
$ |
14.17
|
$ |
14.01
|
$ |
13.56
|
$ |
14.23
|
$ |
14.38
|
$ |
14.83
|
Income (loss) from Investment Operations: |
|
|
|
|
|
|
|
|
|
|
|
|
Net
investment income(a) |
|
0.47
|
|
0.30
|
|
0.11
|
|
0.51
|
|
0.60
|
|
0.55
|
Net
realized and unrealized gain (loss) |
|
(2.24
)
|
|
0.27
|
|
0.62
|
|
(0.66
)
|
|
(0.17
)
|
|
(0.32
)
|
Total
from Investment Operations |
|
(1.77
)
|
|
0.57
|
|
0.73
|
|
(0.15
)
|
|
0.43
|
|
0.23
|
Less Distributions From: |
|
|
|
|
|
|
|
|
|
|
|
|
Net
investment income |
|
(0.77
)
|
|
(0.41
)
|
|
(0.16
)
|
|
(0.49
)
|
|
(0.51
)
|
|
(0.61
)
|
Net
realized capital gains |
|
—
|
|
—
|
|
(0.12
)
|
|
(0.03
)
|
|
(0.07
)
|
|
(0.07
)
|
Total
Distributions |
|
(0.77
)
|
|
(0.41
)
|
|
(0.28
)
|
|
(0.52
)
|
|
(0.58
)
|
|
(0.68
)
|
Net
asset value, end of the period |
$ |
11.63
|
$ |
14.17
|
$ |
14.01
|
$ |
13.56
|
$ |
14.23
|
$ |
14.38
|
Total
return |
|
(12.60
)%
(b) |
|
4.12
%
(b) |
|
5.44
%
(c) |
|
(1.14
)%
|
|
3.22
%
|
|
1.66
%
|
Ratios to Average Net Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
Net
assets, end of the period (000’s) |
$ |
1,816,763
|
$ |
3,058,635
|
$ |
3,693,954
|
$ |
3,774,113
|
$ |
4,316,010
|
$ |
5,118,016
|
Net
expenses |
|
0.70
%
(d)(e) |
|
0.71
%
(d)(f) |
|
0.72
%
(g) |
|
0.72
%
(h) |
|
0.71
%
|
|
0.71
%
|
Gross
expenses |
|
0.73
%
|
|
0.72
%
|
|
0.72
%
(g) |
|
0.72
%
|
|
0.71
%
|
|
0.71
%
|
Net
investment income |
|
3.68
%
|
|
2.10
%
|
|
3.03
%
(g) |
|
3.68
%
|
|
4.28
%
|
|
3.82
%
|
Portfolio
turnover rate |
|
23
%
|
|
99
%
(i) |
|
30
%
(j) |
|
30
%
|
|
13
%
|
|
6
%
|
* |
For
the three month period ended December 31, 2020 due to change in fiscal
year. |
(a) |
Per
share net investment income has been calculated using the average shares
outstanding during the period. |
(b) |
Had
certain expenses not been waived/reimbursed during the period, total
returns would have been lower. |
(c) |
Periods
less than one year are not annualized. |
(d) |
The
investment adviser agreed to waive its fees and/or reimburse a portion of
the Fund’s expenses during the period. Without this waiver/reimbursement,
expenses would have
been higher. |
(e) |
Effective
July 1, 2022, the expense limit decreased from 0.70% to
0.69%. |
(f) |
Effective
July 1, 2021, the expense limit decreased from 0.75% to
0.70%. |
(g) |
Computed
on an annualized basis for periods less than one year. |
(h) |
Effective
July 1, 2020, the expense limit decreased from 1.00% to
0.75%. |
(i) |
The
variation in the Fund’s turnover rate from the year ended September 30,
2020 to the year ended December 31, 2021 was primarily due to a
repositioning of the portfolio. |
(j) |
The
variation in the Fund’s turnover rate, if annualized, from the year ended
September 30, 2020 to the period ended December 31, 2020 was primarily due
to the disposition and
realignment of certain foreign currency-denominated
positions. |
|
Admin Class | |||||||||||
|
Year
Ended December 31, 2022 |
Year
Ended December 31, 2021 |
Period
Ended December 31, 2020* |
Year
Ended September 30, 2020 |
Year
Ended September 30, 2019 |
Year
Ended September 30, 2018 | ||||||
Net
asset value, beginning of the period |
$ |
14.14
|
$ |
13.97
|
$ |
13.53
|
$ |
14.20
|
$ |
14.34
|
$ |
14.79
|
Income (loss) from Investment Operations: |
|
|
|
|
|
|
|
|
|
|
|
|
Net
investment income(a) |
|
0.40
|
|
0.23
|
|
0.09
|
|
0.44
|
|
0.53
|
|
0.48
|
Net
realized and unrealized gain (loss) |
|
(2.23
)
|
|
0.28
|
|
0.62
|
|
(0.66
)
|
|
(0.16
)
|
|
(0.33
)
|
Total
from Investment Operations |
|
(1.83
)
|
|
0.51
|
|
0.71
|
|
(0.22
)
|
|
0.37
|
|
0.15
|
Less Distributions From: |
|
|
|
|
|
|
|
|
|
|
|
|
Net
investment income |
|
(0.71
)
|
|
(0.34
)
|
|
(0.15
)
|
|
(0.42
)
|
|
(0.44
)
|
|
(0.53
)
|
Net
realized capital gains |
|
—
|
|
—
|
|
(0.12
)
|
|
(0.03
)
|
|
(0.07
)
|
|
(0.07
)
|
Total
Distributions |
|
(0.71
)
|
|
(0.34
)
|
|
(0.27
)
|
|
(0.45
)
|
|
(0.51
)
|
|
(0.60
)
|
Net
asset value, end of the period |
$ |
11.60
|
$ |
14.14
|
$ |
13.97
|
$ |
13.53
|
$ |
14.20
|
$ |
14.34
|
Total
return |
|
(13.07
)%
(b) |
|
3.68
%
(b) |
|
5.24
%
(c) |
|
(1.64
)%
|
|
2.78
%
|
|
1.09
%
|
Ratios to Average Net Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
Net
assets, end of the period (000’s) |
$ |
68,788
|
$ |
95,250
|
$ |
105,172
|
$ |
103,197
|
$ |
121,903
|
$ |
133,220
|
Net
expenses |
|
1.20
%
(d)(e) |
|
1.21
%
(d)(f) |
|
1.22
%
(g) |
|
1.22
%
(h) |
|
1.20
%
(i) |
|
1.20
%
(i) |
Gross
expenses |
|
1.23
%
|
|
1.22
%
|
|
1.22
%
(g) |
|
1.22
%
|
|
1.20
%
(i) |
|
1.20
%
(i) |
Net
investment income |
|
3.20
%
|
|
1.60
%
|
|
2.53
%
(g) |
|
3.19
%
|
|
3.80
%
|
|
3.33
%
|
Portfolio
turnover rate |
|
23
%
|
|
99
%
(j) |
|
30
%
(k) |
|
30
%
|
|
13
%
|
|
6
%
|
* |
For
the three month period ended December 31, 2020 due to change in fiscal
year. |
(a) |
Per
share net investment income has been calculated using the average shares
outstanding during the period. |
(b) |
Had
certain expenses not been waived/reimbursed during the period, total
returns would have been lower. |
(c) |
Periods
less than one year are not annualized. |
(d) |
The
investment adviser agreed to waive its fees and/or reimburse a portion of
the Fund’s expenses during the period. Without this waiver/reimbursement,
expenses would have
been higher. |
(e) |
Effective
July 1, 2022, the expense limit decreased from 1.20% to
1.19%. |
(f) |
Effective
July 1, 2021, the expense limit decreased from 1.25% to
1.20%. |
(g) |
Computed
on an annualized basis for periods less than one year. |
(h) |
Effective
July 1, 2020, the expense limit decreased from 1.50% to
1.25%. |
(i) |
Includes
refund of prior year service fee of 0.01%. |
(j) |
The
variation in the Fund’s turnover rate from the year ended September 30,
2020 to the year ended December 31, 2021 was primarily due to a
repositioning of the portfolio. |
(k) |
The
variation in the Fund’s turnover rate, if annualized, from the year ended
September 30, 2020 to the period ended December 31, 2020 was primarily due
to the disposition and
realignment of certain foreign currency-denominated
positions. |
|
Class A | |||||||||
|
Year
Ended December 31, 2022 |
Year
Ended December 31, 2021 |
Year
Ended December 31, 2020 |
Year
Ended December 31, 2019 |
Year
Ended December 31, 2018 | |||||
Net
asset value, beginning of the period |
$ |
29.04
|
$ |
23.20
|
$ |
22.45
|
$ |
19.44
|
$ |
24.72
|
Income (loss) from Investment
Operations: |
|
|
|
|
|
|
|
|
|
|
Net
investment income(a) |
|
0.17
|
|
0.07
|
|
0.11
(b) |
|
0.18
(c) |
|
0.10
|
Net
realized and unrealized gain (loss) |
|
(4.00
)
|
|
7.81
|
|
2.78
|
|
4.93
|
|
(3.28
)
|
Total
from Investment Operations |
|
(3.83
)
|
|
7.88
|
|
2.89
|
|
5.11
|
|
(3.18
)
|
Less Distributions From: |
|
|
|
|
|
|
|
|
|
|
Net
investment income |
|
(0.20
)
|
|
(0.05
)
|
|
(0.12
)
|
|
(0.21
)
|
|
(0.08
)
|
Net
realized capital gains |
|
(3.46
)
|
|
(1.99
)
|
|
(2.02
)
|
|
(1.89
)
|
|
(2.02
)
|
Total
Distributions |
|
(3.66
)
|
|
(2.04
)
|
|
(2.14
)
|
|
(2.10
)
|
|
(2.10
)
|
Net
asset value, end of the period |
$ |
21.55
|
$ |
29.04
|
$ |
23.20
|
$ |
22.45
|
$ |
19.44
|
Total
return(d) |
|
(13.30
)%
(e) |
|
33.97
%
(e) |
|
13.01
%
(b) |
|
26.77
%
(c) |
|
(13.01
)%
|
Ratios to Average Net
Assets: |
|
|
|
|
|
|
|
|
|
|
Net
assets, end of the period (000’s) |
$ |
192,750
|
$ |
222,435
|
$ |
170,702
|
$ |
181,417
|
$ |
164,748
|
Net
expenses |
|
1.05
%
(f) |
|
1.12
%
(f)(g) |
|
1.20
%
(h) |
|
1.17
%
|
|
1.13
%
|
Gross
expenses |
|
1.10
%
|
|
1.14
%
|
|
1.20
%
(h) |
|
1.17
%
|
|
1.13
%
|
Net
investment income |
|
0.65
%
|
|
0.25
%
|
|
0.53
%
(b) |
|
0.85
%
(c) |
|
0.41
%
|
Portfolio
turnover rate |
|
69
%
|
|
23
%
|
|
22
%
|
|
15
%
|
|
39
%
|
(a) |
Per
share net investment income has been calculated using the average shares
outstanding during the period. |
(b) |
Includes
a non-recurring dividend. Without this dividend, net investment income per
share would have been $0.05, total return would have been 12.72% and the
ratio of net investment
income to average net assets would have been 0.27%. |
(c) |
Includes
a non-recurring dividend. Without this dividend, net investment income per
share would have been $0.13, total return would have been 26.50% and the
ratio of net investment
income to average net assets would have been 0.62%. |
(d) |
A
sales charge for Class A shares is not reflected in total return
calculations. |
(e) |
Had
certain expenses not been waived/reimbursed during the period, total
returns would have been lower. |
(f) |
The
investment adviser agreed to waive its fees and/or reimburse a portion of
the Fund’s expenses during the period. Without this waiver/reimbursement,
expenses would have
been higher. |
(g) |
Effective
July 1, 2021, the expense limit decreased from 1.30% to
1.05%. |
(h) |
Includes
refund of prior year service fee of
0.01%. |
|
Class C | |||||||||
|
Year
Ended December 31, 2022 |
Year
Ended December 31, 2021 |
Year
Ended December 31, 2020 |
Year
Ended December 31, 2019 |
Year
Ended December 31, 2018 | |||||
Net
asset value, beginning of the period |
$ |
23.50
|
$ |
19.17
|
$ |
18.92
|
$ |
16.66
|
$ |
21.58
|
Income (loss) from Investment
Operations: |
|
|
|
|
|
|
|
|
|
|
Net
investment income (loss)(a) |
|
(0.02
)
|
|
(0.12
)
|
|
(0.04
)
(b) |
|
0.02
(c) |
|
(0.07
)
|
Net
realized and unrealized gain (loss) |
|
(3.23
)
|
|
6.44
|
|
2.31
|
|
4.20
|
|
(2.83
)
|
Total
from Investment Operations |
|
(3.25
)
|
|
6.32
|
|
2.27
|
|
4.22
|
|
(2.90
)
|
Less Distributions From: |
|
|
|
|
|
|
|
|
|
|
Net
investment income |
|
(0.05
)
|
|
(0.00
)
(d) |
|
—
|
|
(0.07
)
|
|
—
|
Net
realized capital gains |
|
(3.46
)
|
|
(1.99
)
|
|
(2.02
)
|
|
(1.89
)
|
|
(2.02
)
|
Total
Distributions |
|
(3.51
)
|
|
(1.99
)
|
|
(2.02
)
|
|
(1.96
)
|
|
(2.02
)
|
Net
asset value, end of the period |
$ |
16.74
|
$ |
23.50
|
$ |
19.17
|
$ |
18.92
|
$ |
16.66
|
Total
return(e) |
|
(13.97
)%
(f) |
|
32.99
%
(f) |
|
12.15
%
(b) |
|
25.82
%
(c) |
|
(13.63
)%
|
Ratios to Average Net
Assets: |
|
|
|
|
|
|
|
|
|
|
Net
assets, end of the period (000’s) |
$ |
51,987
|
$ |
50,042
|
$ |
35,940
|
$ |
54,384
|
$ |
53,606
|
Net
expenses |
|
1.80
%
(g) |
|
1.87
%
(g)(h) |
|
1.95
%
|
|
1.92
%
|
|
1.88
%
|
Gross
expenses |
|
1.85
%
|
|
1.89
%
|
|
1.95
%
|
|
1.92
%
|
|
1.88
%
|
Net
investment income (loss) |
|
(0.10
)%
|
|
(0.49
)%
|
|
(0.23
)%
(b) |
|
0.12
%
(c) |
|
(0.33
)%
|
Portfolio
turnover rate |
|
69
%
|
|
23
%
|
|
22
%
|
|
15
%
|
|
39
%
|
(a) |
Per
share net investment income (loss) has been calculated using the average
shares outstanding during the period. |
(b) |
Includes
a non-recurring dividend. Without this dividend, net investment loss per
share would have been $(0.08), total return would have been 11.85% and the
ratio of net investment
loss to average net assets would have been (0.46)%. |
(c) |
Includes
a non-recurring dividend. Without this dividend, net investment loss per
share would have been $(0.02), total return would have been 25.50% and the
ratio of net investment
loss to average net assets would have been (0.12)%. |
(d) |
Amount
rounds to less than $0.01 per share. |
(e) |
A
contingent deferred sales charge for Class C shares is not reflected in
total return calculations. |
(f) |
Had
certain expenses not been waived/reimbursed during the period, total
returns would have been lower. |
(g) |
The
investment adviser agreed to waive its fees and/or reimburse a portion of
the Fund’s expenses during the period. Without this waiver/reimbursement,
expenses would have
been higher. |
(h) |
Effective
July 1, 2021, the expense limit decreased from 2.05% to
1.80%. |
|
Class N | |||||||||
|
Year
Ended December 31, 2022 |
Year
Ended December 31, 2021 |
Year
Ended December 31, 2020 |
Year
Ended December 31, 2019 |
Year
Ended December 31, 2018 | |||||
Net
asset value, beginning of the period |
$ |
31.13
|
$ |
24.72
|
$ |
23.78
|
$ |
20.49
|
$ |
25.91
|
Income (loss) from Investment
Operations: |
|
|
|
|
|
|
|
|
|
|
Net
investment income(a) |
|
0.26
|
|
0.23
|
|
0.18
(b) |
|
0.22
(c) |
|
0.22
|
Net
realized and unrealized gain (loss) |
|
(4.29
)
|
|
8.31
|
|
2.98
|
|
5.25
|
|
(3.45
)
|
Total
from Investment Operations |
|
(4.03
)
|
|
8.54
|
|
3.16
|
|
5.47
|
|
(3.23
)
|
Less Distributions From: |
|
|
|
|
|
|
|
|
|
|
Net
investment income |
|
(0.28
)
|
|
(0.14
)
|
|
(0.20
)
|
|
(0.29
)
|
|
(0.17
)
|
Net
realized capital gains |
|
(3.46
)
|
|
(1.99
)
|
|
(2.02
)
|
|
(1.89
)
|
|
(2.02
)
|
Total
Distributions |
|
(3.74
)
|
|
(2.13
)
|
|
(2.22
)
|
|
(2.18
)
|
|
(2.19
)
|
Net
asset value, end of the period |
$ |
23.36
|
$ |
31.13
|
$ |
24.72
|
$ |
23.78
|
$ |
20.49
|
Total
return(d) |
|
(13.06
)%
|
|
34.54
%
|
|
13.41
%
(b) |
|
27.16
%
(c) |
|
(12.60
)%
|
Ratios to Average Net
Assets: |
|
|
|
|
|
|
|
|
|
|
Net
assets, end of the period (000’s) |
$ |
517
|
$ |
682
|
$ |
364
|
$ |
801
|
$ |
10
|
Net
expenses(e) |
|
0.75
%
|
|
0.80
%
(f) |
|
0.86
%
|
|
0.83
%
|
|
0.75
%
|
Gross
expenses |
|
0.93
%
|
|
1.55
%
|
|
1.05
%
|
|
1.25
%
|
|
3.79
%
|
Net
investment income |
|
0.93
%
|
|
0.79
%
|
|
0.85
%
(b) |
|
0.93
%
(c) |
|
0.88
%
|
Portfolio
turnover rate |
|
69
%
|
|
23
%
|
|
22
%
|
|
15
%
|
|
39
%
|
(a) |
Per
share net investment income has been calculated using the average shares
outstanding during the period. |
(b) |
Includes
a non-recurring dividend. Without this dividend, net investment income per
share would have been $0.14, total return would have been 13.13% and the
ratio of net investment
income to average net assets would have been 0.67%. |
(c) |
Includes
a non-recurring dividend. Without this dividend, net investment income per
share would have been $0.22, total return would have been 26.90% and the
ratio of net investment
income to average net assets would have been 0.92%. |
(d) |
Had
certain expenses not been waived/reimbursed during the period, total
returns would have been lower. |
(e) |
The
investment adviser agreed to waive its fees and/or reimburse a portion of
the Fund’s expenses during the period. Without this waiver/reimbursement,
expenses would have
been higher. |
(f) |
Effective
July 1, 2021, the expense limit decreased from 1.00% to
0.75%. |
|
Class Y | |||||||||
|
Year
Ended December 31, 2022 |
Year
Ended December 31, 2021 |
Year
Ended December 31, 2020 |
Year
Ended December 31, 2019 |
Year
Ended December 31, 2018 | |||||
Net
asset value, beginning of the period |
$ |
31.04
|
$ |
24.68
|
$ |
23.75
|
$ |
20.46
|
$ |
25.90
|
Income (loss) from Investment
Operations: |
|
|
|
|
|
|
|
|
|
|
Net
investment income(a) |
|
0.25
|
|
0.17
|
|
0.17
(b) |
|
0.27
(c) |
|
0.17
|
Net
realized and unrealized gain (loss) |
|
(4.28
)
|
|
8.31
|
|
2.95
|
|
5.17
|
|
(3.44
)
|
Total
from Investment Operations |
|
(4.03
)
|
|
8.48
|
|
3.12
|
|
5.44
|
|
(3.27
)
|
Less Distributions From: |
|
|
|
|
|
|
|
|
|
|
Net
investment income |
|
(0.26
)
|
|
(0.13
)
|
|
(0.17
)
|
|
(0.26
)
|
|
(0.15
)
|
Net
realized capital gains |
|
(3.46
)
|
|
(1.99
)
|
|
(2.02
)
|
|
(1.89
)
|
|
(2.02
)
|
Total
Distributions |
|
(3.72
)
|
|
(2.12
)
|
|
(2.19
)
|
|
(2.15
)
|
|
(2.17
)
|
Net
asset value, end of the period |
$ |
23.29
|
$ |
31.04
|
$ |
24.68
|
$ |
23.75
|
$ |
20.46
|
Total
return |
|
(13.10
)%
(d) |
|
34.35
%
(d) |
|
13.28
%
(b) |
|
27.06
%
(c)(d) |
|
(12.76
)%
|
Ratios to Average Net
Assets: |
|
|
|
|
|
|
|
|
|
|
Net
assets, end of the period (000’s) |
$ |
103,213
|
$ |
99,008
|
$ |
37,595
|
$ |
46,836
|
$ |
53,829
|
Net
expenses |
|
0.80
%
(e) |
|
0.86
%
(e)(f) |
|
0.95
%
|
|
0.91
%
(e) |
|
0.88
%
|
Gross
expenses |
|
0.85
%
|
|
0.89
%
|
|
0.95
%
|
|
0.92
%
|
|
0.88
%
|
Net
investment income |
|
0.89
%
|
|
0.56
%
|
|
0.79
%
(b) |
|
1.16
%
(c) |
|
0.68
%
|
Portfolio
turnover rate |
|
69
%
|
|
23
%
|
|
22
%
|
|
15
%
|
|
39
%
|
(a) |
Per
share net investment income has been calculated using the average shares
outstanding during the period. |
(b) |
Includes
a non-recurring dividend. Without this dividend, net investment income per
share would have been $0.12, total return would have been 13.00% and the
ratio of net investment
income to average net assets would have been 0.55%. |
(c) |
Includes
a non-recurring dividend. Without this dividend, net investment income per
share would have been $0.20, total return would have been 26.80% and the
ratio of net investment
income to average net assets would have been 0.90%. |
(d) |
Had
certain expenses not been waived/reimbursed during the period, total
returns would have been lower. |
(e) |
The
investment adviser agreed to waive its fees and/or reimburse a portion of
the Fund’s expenses during the period. Without this waiver/reimbursement,
expenses would have
been higher. |
(f) |
Effective
July 1, 2021, the expense limit decreased from 1.05% to
0.80%. |
|
Class A | |||||||||
|
Year
Ended December 31, 2022 |
Year
Ended December 31, 2021 |
Year
Ended December 31, 2020 |
Year
Ended December 31, 2019 |
Year
Ended December 31, 2018 | |||||
Net
asset value, beginning of the period |
$ |
15.15
|
$ |
14.15
|
$ |
13.63
|
$ |
11.29
|
$ |
15.58
|
Income (loss) from Investment
Operations: |
|
|
|
|
|
|
|
|
|
|
Net
investment income (loss)(a) |
|
0.19
|
|
0.27
(b) |
|
(0.00
)
(c) |
|
0.37
(d) |
|
0.25
|
Net
realized and unrealized gain (loss) |
|
(2.60
)
|
|
0.96
|
|
0.55
(e) |
|
2.38
|
|
(4.02
)
|
Total
from Investment Operations |
|
(2.41
)
|
|
1.23
|
|
0.55
|
|
2.75
|
|
(3.77
)
|
Less Distributions From: |
|
|
|
|
|
|
|
|
|
|
Net
investment income |
|
(0.22
)
|
|
(0.23
)
|
|
(0.03
)
|
|
(0.41
)
|
|
(0.29
)
|
Net
realized capital gains |
|
—
|
|
—
|
|
—
|
|
—
|
|
(0.23
)
|
Total
Distributions |
|
(0.22
)
|
|
(0.23
)
|
|
(0.03
)
|
|
(0.41
)
|
|
(0.52
)
|
Net
asset value, end of the period |
$ |
12.52
|
$ |
15.15
|
$ |
14.15
|
$ |
13.63
|
$ |
11.29
|
Total
return(f) |
|
(15.91
)%
(g) |
|
8.73
%
(b)(g) |
|
4.06
%
(g) |
|
24.35
%
(d) |
|
(24.15
)%
|
Ratios to Average Net
Assets: |
|
|
|
|
|
|
|
|
|
|
Net
assets, end of the period (000’s) |
$ |
120,316
|
$ |
152,900
|
$ |
131,630
|
$ |
172,906
|
$ |
257,551
|
Net
expenses |
|
1.15
%
(h) |
|
1.17
%
(h)(i) |
|
1.29
%
(h)(j) |
|
1.29
%
|
|
1.31
%
|
Gross
expenses |
|
1.38
%
|
|
1.34
%
|
|
1.36
%
|
|
1.29
%
|
|
1.31
%
|
Net
investment income (loss) |
|
1.48
%
|
|
1.73
%
(b) |
|
(0.03
)%
|
|
2.91
%
(d) |
|
1.72
%
|
Portfolio
turnover rate |
|
33
%
|
|
37
%
|
|
63
%
|
|
28
%
|
|
50
%
|
(a) |
Per
share net investment income (loss) has been calculated using the average
shares outstanding during the period. |
(b) |
Includes
a non-recurring dividend and tax reclaims. Without these, net investment
income per share would have been $0.13, total return would have been 7.74%
and the ratio of
net investment income to average net assets would have been
0.84%. |
(c) |
Amount
rounds to less than $0.01 per share. |
(d) |
Includes
non-recurring dividends. Without this dividend, net investment income per
share would have been $0.29, total return would have been 23.55% and the
ratio of net investment
income to average net assets would have been 2.26%. |
(e) |
The
amount shown for a share outstanding does not correspond with the
aggregate realized and unrealized gain (loss) on investments for the
period due to the timing of sales and
redemptions of fund shares in relation to fluctuating market values of
investments of the Fund. |
(f) |
A
sales charge for Class A shares is not reflected in total return
calculations. |
(g) |
Had
certain expenses not been waived/reimbursed during the period, total
returns would have been lower. |
(h) |
The
investment adviser agreed to waive its fees and/or reimburse a portion of
the Fund’s expenses during the period. Without this waiver/reimbursement,
expenses would have
been higher. |
(i) |
Effective
July 1, 2021, the expense limit decreased from 1.20% to
1.15%. |
(j) |
Effective
July 1, 2020, the expense limit decreased from 1.37% to
1.20%. |
|
Class C | |||||||||
|
Year
Ended December 31, 2022 |
Year
Ended December 31, 2021 |
Year
Ended December 31, 2020 |
Year
Ended December 31, 2019 |
Year
Ended December 31, 2018 | |||||
Net
asset value, beginning of the period |
$ |
14.86
|
$ |
13.85
|
$ |
13.41
|
$ |
11.11
|
$ |
15.30
|
Income (loss) from Investment
Operations: |
|
|
|
|
|
|
|
|
|
|
Net
investment income (loss)(a) |
|
0.10
|
|
0.13
(b) |
|
(0.08
)
|
|
0.26
(c) |
|
0.13
|
Net
realized and unrealized gain (loss) |
|
(2.55
)
|
|
0.97
|
|
0.52
(d) |
|
2.34
|
|
(3.92
)
|
Total
from Investment Operations |
|
(2.45
)
|
|
1.10
|
|
0.44
|
|
2.60
|
|
(3.79
)
|
Less Distributions From: |
|
|
|
|
|
|
|
|
|
|
Net
investment income |
|
(0.10
)
|
|
(0.09
)
|
|
—
|
|
(0.30
)
|
|
(0.17
)
|
Net
realized capital gains |
|
—
|
|
—
|
|
—
|
|
—
|
|
(0.23
)
|
Total
Distributions |
|
(0.10
)
|
|
(0.09
)
|
|
—
|
|
(0.30
)
|
|
(0.40
)
|
Net
asset value, end of the period |
$ |
12.31
|
$ |
14.86
|
$ |
13.85
|
$ |
13.41
|
$ |
11.11
|
Total
return(e) |
|
(16.50
)%
(f) |
|
7.92
%
(b)(f) |
|
3.28
%
(f) |
|
23.44
%
(c) |
|
(24.74
)%
|
Ratios to Average Net
Assets: |
|
|
|
|
|
|
|
|
|
|
Net
assets, end of the period (000’s) |
$ |
39,202
|
$ |
69,335
|
$ |
96,772
|
$ |
179,533
|
$ |
212,618
|
Net
expenses |
|
1.90
%
(g) |
|
1.93
%
(g)(h) |
|
2.05
%
(g)(i) |
|
2.04
%
|
|
2.07
%
|
Gross
expenses |
|
2.13
%
|
|
2.09
%
|
|
2.11
%
|
|
2.04
%
|
|
2.07
%
|
Net
investment income (loss) |
|
0.78
%
|
|
0.85
%
(b) |
|
(0.76
)%
|
|
2.09
%
(c) |
|
0.94
%
|
Portfolio
turnover rate |
|
33
%
|
|
37
%
|
|
63
%
|
|
28
%
|
|
50
%
|
(a) |
Per
share net investment income (loss) has been calculated using the average
shares outstanding during the period. |
(b) |
Includes
a non-recurring dividend and tax reclaims. Without these, net investment
income per share would have been $0.02, total return would have been 6.98%
and the ratio of
net investment income to average net assets would have been
0.13%. |
(c) |
Includes
non-recurring dividends. Without this dividend, net investment income per
share would have been $0.18, total return would have been 22.63% and the
ratio of net investment
income to average net assets would have been 1.43%. |
(d) |
The
amount shown for a share outstanding does not correspond with the
aggregate realized and unrealized gain (loss) on investments for the
period due to the timing of sales and
redemptions of fund shares in relation to fluctuating market values of
investments of the Fund. |
(e) |
A
contingent deferred sales charge for Class C shares is not reflected in
total return calculations. |
(f) |
Had
certain expenses not been waived/reimbursed during the period, total
returns would have been lower. |
(g) |
The
investment adviser agreed to waive its fees and/or reimburse a portion of
the Fund’s expenses during the period. Without this waiver/reimbursement,
expenses would have
been higher. |
(h) |
Effective
July 1, 2021, the expense limit decreased from 1.95% to
1.90%. |
(i) |
Effective
July 1, 2020, the expense limit decreased from 2.12% to
1.95%. |
|
Class N | |||||||||
|
Year
Ended December 31, 2022 |
Year
Ended December 31, 2021 |
Year
Ended December 31, 2020 |
Year
Ended December 31, 2019 |
Year
Ended December 31, 2018 | |||||
Net
asset value, beginning of the period |
$ |
15.08
|
$ |
14.09
|
$ |
13.56
|
$ |
11.25
|
$ |
15.58
|
Income (loss) from Investment
Operations: |
|
|
|
|
|
|
|
|
|
|
Net
investment income(a) |
|
0.32
|
|
0.38
(b) |
|
0.04
|
|
0.33
(c) |
|
0.28
|
Net
realized and unrealized gain (loss) |
|
(2.68
)
|
|
0.89
|
|
0.56
(d) |
|
2.45
|
|
(4.02
)
|
Total
from Investment Operations |
|
(2.36
)
|
|
1.27
|
|
0.60
|
|
2.78
|
|
(3.74
)
|
Less Distributions From: |
|
|
|
|
|
|
|
|
|
|
Net
investment income |
|
(0.26
)
|
|
(0.28
)
|
|
(0.07
)
|
|
(0.47
)
|
|
(0.36
)
|
Net
realized capital gains |
|
—
|
|
—
|
|
—
|
|
—
|
|
(0.23
)
|
Total
Distributions |
|
(0.26
)
|
|
(0.28
)
|
|
(0.07
)
|
|
(0.47
)
|
|
(0.59
)
|
Net
asset value, end of the period |
$ |
12.46
|
$ |
15.08
|
$ |
14.09
|
$ |
13.56
|
$ |
11.25
|
Total
return(e) |
|
(15.65
)%
|
|
9.01
%
(b) |
|
4.44
%
|
|
24.75
%
(c) |
|
(23.94
)%
|
Ratios to Average Net
Assets: |
|
|
|
|
|
|
|
|
|
|
Net
assets, end of the period (000’s) |
$ |
222
|
$ |
704
|
$ |
290
|
$ |
811
|
$ |
758
|
Net
expenses(f) |
|
0.85
%
|
|
0.87
%
(g) |
|
0.92
%
(h) |
|
0.94
%
|
|
0.99
%
|
Gross
expenses |
|
1.01
%
|
|
1.25
%
|
|
1.17
%
|
|
1.08
%
|
|
1.02
%
|
Net
investment income |
|
2.56
%
|
|
2.49
%
(b) |
|
0.37
%
|
|
2.56
%
(c) |
|
2.04
%
|
Portfolio
turnover rate |
|
33
%
|
|
37
%
|
|
63
%
|
|
28
%
|
|
50
%
|
(a) |
Per
share net investment income has been calculated using the average shares
outstanding during the period. |
(b) |
Includes
a non-recurring dividend and tax reclaims. Without these, net investment
income per share would have been $0.11, total return would have been 8.09%
and the ratio of
net investment income to average net assets would have been
0.70%. |
(c) |
Includes
non-recurring dividends. Without this dividend, net investment income per
share would have been $0.27, total return would have been 23.94% and the
ratio of net investment
income to average net assets would have been 2.15%. |
(d) |
The
amount shown for a share outstanding does not correspond with the
aggregate realized and unrealized gain (loss) on investments for the
period due to the timing of sales and
redemptions of fund shares in relation to fluctuating market values of
investments of the Fund. |
(e) |
Had
certain expenses not been waived/reimbursed during the period, total
returns would have been lower. |
(f) |
The
investment adviser agreed to waive its fees and/or reimburse a portion of
the Fund’s expenses during the period. Without this waiver/reimbursement,
expenses would have
been higher. |
(g) |
Effective
July 1, 2021, the expense limit decreased from 0.90% to
0.85%. |
(h) |
Effective
July 1, 2020, the expense limit decreased from 1.07% to
0.90%. |
|
Class Y | |||||||||
|
Year
Ended December 31, 2022 |
Year
Ended December 31, 2021 |
Year
Ended December 31, 2020 |
Year
Ended December 31, 2019 |
Year
Ended December 31, 2018 | |||||
Net
asset value, beginning of the period |
$ |
15.07
|
$ |
14.08
|
$ |
13.56
|
$ |
11.25
|
$ |
15.56
|
Income (loss) from Investment
Operations: |
|
|
|
|
|
|
|
|
|
|
Net
investment income(a) |
|
0.22
|
|
0.30
(b) |
|
0.04
|
|
0.37
(c) |
|
0.26
|
Net
realized and unrealized gain (loss) |
|
(2.58
)
|
|
0.96
|
|
0.55
(d) |
|
2.40
|
|
(3.99
)
|
Total
from Investment Operations |
|
(2.36
)
|
|
1.26
|
|
0.59
|
|
2.77
|
|
(3.73
)
|
Less Distributions From: |
|
|
|
|
|
|
|
|
|
|
Net
investment income |
|
(0.26
)
|
|
(0.27
)
|
|
(0.07
)
|
|
(0.46
)
|
|
(0.35
)
|
Net
realized capital gains |
|
—
|
|
—
|
|
—
|
|
—
|
|
(0.23
)
|
Total
Distributions |
|
(0.26
)
|
|
(0.27
)
|
|
(0.07
)
|
|
(0.46
)
|
|
(0.58
)
|
Net
asset value, end of the period |
$ |
12.45
|
$ |
15.07
|
$ |
14.08
|
$ |
13.56
|
$ |
11.25
|
Total
return |
|
(15.71
)%
(e) |
|
8.97
%
(b)(e) |
|
4.32
%
(e) |
|
24.64
%
(c) |
|
(23.93
)%
|
Ratios to Average Net
Assets: |
|
|
|
|
|
|
|
|
|
|
Net
assets, end of the period (000’s) |
$ |
200,175
|
$ |
312,930
|
$ |
275,468
|
$ |
244,586
|
$ |
215,123
|
Net
expenses |
|
0.90
%
(f) |
|
0.92
%
(f)(g) |
|
1.03
%
(f)(h) |
|
1.04
%
|
|
1.07
%
|
Gross
expenses |
|
1.13
%
|
|
1.09
%
|
|
1.11
%
|
|
1.04
%
|
|
1.07
%
|
Net
investment income |
|
1.66
%
|
|
1.96
%
(b) |
|
0.41
%
|
|
2.91
%
(c) |
|
1.85
%
|
Portfolio
turnover rate |
|
33
%
|
|
37
%
|
|
63
%
|
|
28
%
|
|
50
%
|
(a) |
Per
share net investment income has been calculated using the average shares
outstanding during the period. |
(b) |
Includes
a non-recurring dividend and tax reclaims. Without these, net investment
income per share would have been $0.17, total return would have been 8.04%
and the ratio of
net investment income to average net assets would have been
1.07%. |
(c) |
Includes
non-recurring dividends. Without this dividend, net investment income per
share would have been $0.29, total return would have been 23.84% and the
ratio of net investment
income to average net assets would have been 2.29%. |
(d) |
The
amount shown for a share outstanding does not correspond with the
aggregate realized and unrealized gain (loss) on investments for the
period due to the timing of sales and
redemptions of fund shares in relation to fluctuating market values of
investments of the Fund. |
(e) |
Had
certain expenses not been waived/reimbursed during the period, total
returns would have been lower. |
(f) |
The
investment adviser agreed to waive its fees and/or reimburse a portion of
the Fund’s expenses during the period. Without this waiver/reimbursement,
expenses would have
been higher. |
(g) |
Effective
July 1, 2021, the expense limit decreased from 0.95% to
0.90%. |
(h) |
Effective
July 1, 2020, the expense limit decreased from 1.12% to
0.95%. |
|
Class A | |||||||||
|
Year
Ended December 31, 2022 |
Year
Ended December 31, 2021 |
Year
Ended December 31, 2020 |
Year
Ended December 31, 2019 |
Year
Ended December 31, 2018 | |||||
Net
asset value, beginning of the period |
$ |
43.12
|
$ |
39.04
|
$ |
36.53
|
$ |
31.00
|
$ |
36.90
|
Income (loss) from Investment
Operations: |
|
|
|
|
|
|
|
|
|
|
Net
investment income (loss)(a) |
|
0.03
|
|
(0.11
)
|
|
(0.05
)
|
|
0.15
(b) |
|
0.08
|
Net
realized and unrealized gain (loss) |
|
(8.89
)
|
|
8.99
|
|
7.66
|
|
9.34
|
|
(2.51
)
|
Total
from Investment Operations |
|
(8.86
)
|
|
8.88
|
|
7.61
|
|
9.49
|
|
(2.43
)
|
Less Distributions From: |
|
|
|
|
|
|
|
|
|
|
Net
investment income |
|
(0.03
)
|
|
—
|
|
—
|
|
(0.17
)
|
|
(0.05
)
|
Net
realized capital gains |
|
(5.22
)
|
|
(4.80
)
|
|
(5.10
)
|
|
(3.79
)
|
|
(3.42
)
|
Total
Distributions |
|
(5.25
)
|
|
(4.80
)
|
|
(5.10
)
|
|
(3.96
)
|
|
(3.47
)
|
Net
asset value, end of the period |
$ |
29.01
|
$ |
43.12
|
$ |
39.04
|
$ |
36.53
|
$ |
31.00
|
Total
return(c) |
|
(21.15
)%
|
|
23.14
%
|
|
22.09
%
|
|
31.03
%
(b) |
|
(6.48
)%
|
Ratios to Average Net
Assets: |
|
|
|
|
|
|
|
|
|
|
Net
assets, end of the period (000’s) |
$ |
512,392
|
$ |
733,423
|
$ |
649,754
|
$ |
616,922
|
$ |
523,665
|
Net
expenses |
|
1.12
%
|
|
1.14
%
|
|
1.17
%
|
|
1.17
%
|
|
1.16
%
|
Gross
expenses |
|
1.12
%
|
|
1.14
%
|
|
1.17
%
|
|
1.17
%
|
|
1.16
%
|
Net
investment income (loss) |
|
0.09
%
|
|
(0.25
)%
|
|
(0.14
)%
|
|
0.42
%
(b) |
|
0.20
%
|
Portfolio
turnover rate |
|
46
%
|
|
18
%
|
|
26
%
|
|
12
%
|
|
23
%
|
(a) |
Per
share net investment income (loss) has been calculated using the average
shares outstanding during the period. |
(b) |
Includes
non-recurring dividends. Without this dividend, net investment income per
share would have been $0.09, total return would have been 30.87% and the
ratio of net investment
income to average net assets would have been 0.26%. |
(c) |
A
sales charge for Class A shares is not reflected in total return
calculations. |
|
Class C | |||||||||
|
Year
Ended December 31, 2022 |
Year
Ended December 31, 2021 |
Year
Ended December 31, 2020 |
Year
Ended December 31, 2019 |
Year
Ended December 31, 2018 | |||||
Net
asset value, beginning of the period |
$ |
21.82
|
$ |
21.89
|
$ |
22.65
|
$ |
20.42
|
$ |
25.73
|
Income (loss) from Investment
Operations: |
|
|
|
|
|
|
|
|
|
|
Net
investment loss(a) |
|
(0.12
)
|
|
(0.24
)
|
|
(0.19
)
|
|
(0.07
)
(b) |
|
(0.14
)
|
Net
realized and unrealized gain (loss) |
|
(4.36
)
|
|
4.97
|
|
4.53
|
|
6.10
|
|
(1.75
)
|
Total
from Investment Operations |
|
(4.48
)
|
|
4.73
|
|
4.34
|
|
6.03
|
|
(1.89
)
|
Less Distributions From: |
|
|
|
|
|
|
|
|
|
|
Net
investment income |
|
—
|
|
—
|
|
—
|
|
(0.01
)
|
|
—
|
Net
realized capital gains |
|
(5.22
)
|
|
(4.80
)
|
|
(5.10
)
|
|
(3.79
)
|
|
(3.42
)
|
Total
Distributions |
|
(5.22
)
|
|
(4.80
)
|
|
(5.10
)
|
|
(3.80
)
|
|
(3.42
)
|
Net
asset value, end of the period |
$ |
12.12
|
$ |
21.82
|
$ |
21.89
|
$ |
22.65
|
$ |
20.42
|
Total
return(c) |
|
(21.77
)%
|
|
22.27
%
|
|
21.15
%
|
|
30.06
%
(b) |
|
(7.18
)%
|
Ratios to Average Net
Assets: |
|
|
|
|
|
|
|
|
|
|
Net
assets, end of the period (000’s) |
$ |
29,356
|
$ |
57,492
|
$ |
63,126
|
$ |
77,924
|
$ |
78,783
|
Net
expenses |
|
1.87
%
|
|
1.89
%
|
|
1.92
%
|
|
1.92
%
|
|
1.91
%
|
Gross
expenses |
|
1.87
%
|
|
1.89
%
|
|
1.92
%
|
|
1.92
%
|
|
1.91
%
|
Net
investment loss |
|
(0.66
)%
|
|
(0.99
)%
|
|
(0.87
)%
|
|
(0.31
)%
(b) |
|
(0.54
)%
|
Portfolio
turnover rate |
|
46
%
|
|
18
%
|
|
26
%
|
|
12
%
|
|
23
%
|
(a) |
Per
share net investment loss has been calculated using the average shares
outstanding during the period. |
(b) |
Includes
non-recurring dividends. Without this dividend, net investment loss per
share would have been $(0.11), total return would have been 29.85% and the
ratio of net investment
loss to average net assets would have been (0.48)%. |
(c) |
A
contingent deferred sales charge for Class C shares is not reflected in
total return calculations. |
|
Class N | |||||||||
|
Year
Ended December 31, 2022 |
Year
Ended December 31, 2021 |
Year
Ended December 31, 2020 |
Year
Ended December 31, 2019 |
Year
Ended December 31, 2018 | |||||
Net
asset value, beginning of the period |
$ |
54.14
|
$ |
47.84
|
$ |
43.61
|
$ |
36.37
|
$ |
42.63
|
Income (loss) from Investment
Operations: |
|
|
|
|
|
|
|
|
|
|
Net
investment income(a) |
|
0.18
|
|
0.03
|
|
0.13
|
|
0.19
(b) |
|
0.25
|
Net
realized and unrealized gain (loss) |
|
(11.23
)
|
|
11.07
|
|
9.20
|
|
11.14
|
|
(2.91
)
|
Total
from Investment Operations |
|
(11.05
)
|
|
11.10
|
|
9.33
|
|
11.33
|
|
(2.66
)
|
Less Distributions From: |
|
|
|
|
|
|
|
|
|
|
Net
investment income |
|
(0.15
)
|
|
—
|
|
—
|
|
(0.30
)
|
|
(0.18
)
|
Net
realized capital gains |
|
(5.22
)
|
|
(4.80
)
|
|
(5.10
)
|
|
(3.79
)
|
|
(3.42
)
|
Total
Distributions |
|
(5.37
)
|
|
(4.80
)
|
|
(5.10
)
|
|
(4.09
)
|
|
(3.60
)
|
Net
asset value, end of the period |
$ |
37.72
|
$ |
54.14
|
$ |
47.84
|
$ |
43.61
|
$ |
36.37
|
Total
return(c) |
|
(20.88
)%
|
|
23.53
%
|
|
22.48
%
|
|
31.44
%
(b) |
|
(6.11
)%
|
Ratios to Average Net
Assets: |
|
|
|
|
|
|
|
|
|
|
Net
assets, end of the period (000’s) |
$ |
167
|
$ |
177
|
$ |
172
|
$ |
654
|
$ |
1
|
Net
expenses(d) |
|
0.81
%
|
|
0.83
%
|
|
0.84
%
|
|
0.83
%
|
|
0.76
%
|
Gross
expenses |
|
1.34
%
|
|
1.38
%
|
|
1.13
%
|
|
1.42
%
|
|
13.35
%
|
Net
investment income |
|
0.41
%
|
|
0.06
%
|
|
0.31
%
|
|
0.44
%
(b) |
|
0.56
%
|
Portfolio
turnover rate |
|
46
%
|
|
18
%
|
|
26
%
|
|
12
%
|
|
23
%
|
(a) |
Per
share net investment income has been calculated using the average shares
outstanding during the period. |
(b) |
Includes
non-recurring dividends. Without this dividend, net investment income per
share would have been $0.19, total return would have been 31.27% and the
ratio of net investment
income to average net assets would have been 0.44%. |
(c) |
Had
certain expenses not been waived/reimbursed during the period, total
returns would have been lower. |
(d) |
The
investment adviser agreed to waive its fees and/or reimburse a portion of
the Fund’s expenses during the period. Without this waiver/reimbursement,
expenses would have
been higher. |
|
Class Y | |||||||||
|
Year
Ended December 31, 2022 |
Year
Ended December 31, 2021 |
Year
Ended December 31, 2020 |
Year
Ended December 31, 2019 |
Year
Ended December 31, 2018 | |||||
Net
asset value, beginning of the period |
$ |
53.99
|
$ |
47.74
|
$ |
43.56
|
$ |
36.33
|
$ |
42.61
|
Income (loss) from Investment
Operations: |
|
|
|
|
|
|
|
|
|
|
Net
investment income(a) |
|
0.15
|
|
0.00
(b) |
|
0.05
|
|
0.29
(c) |
|
0.20
|
Net
realized and unrealized gain (loss) |
|
(11.20
)
|
|
11.05
|
|
9.23
|
|
10.99
|
|
(2.92
)
|
Total
from Investment Operations |
|
(11.05
)
|
|
11.05
|
|
9.28
|
|
11.28
|
|
(2.72
)
|
Less Distributions From: |
|
|
|
|
|
|
|
|
|
|
Net
investment income |
|
(0.12
)
|
|
—
|
|
—
|
|
(0.26
)
|
|
(0.14
)
|
Net
realized capital gains |
|
(5.22
)
|
|
(4.80
)
|
|
(5.10
)
|
|
(3.79
)
|
|
(3.42
)
|
Total
Distributions |
|
(5.34
)
|
|
(4.80
)
|
|
(5.10
)
|
|
(4.05
)
|
|
(3.56
)
|
Net
asset value, end of the period |
$ |
37.60
|
$ |
53.99
|
$ |
47.74
|
$ |
43.56
|
$ |
36.33
|
Total
return |
|
(20.95
)%
|
|
23.48
%
|
|
22.36
%
|
|
31.36
%
(c)(d) |
|
(6.24
)%
|
Ratios to Average Net
Assets: |
|
|
|
|
|
|
|
|
|
|
Net
assets, end of the period (000’s) |
$ |
191,912
|
$ |
284,738
|
$ |
243,302
|
$ |
283,864
|
$ |
296,255
|
Net
expenses |
|
0.87
%
|
|
0.89
%
|
|
0.92
%
|
|
0.91
%
(e) |
|
0.91
%
|
Gross
expenses |
|
0.87
%
|
|
0.89
%
|
|
0.92
%
|
|
0.92
%
|
|
0.91
%
|
Net
investment income |
|
0.35
%
|
|
0.00
%
(f) |
|
0.13
%
|
|
0.69
%
(c) |
|
0.45
%
|
Portfolio
turnover rate |
|
46
%
|
|
18
%
|
|
26
%
|
|
12
%
|
|
23
%
|
(a) |
Per
share net investment income has been calculated using the average shares
outstanding during the period. |
(b) |
Amount
rounds to less than $0.01 per share. |
(c) |
Includes
non-recurring dividends. Without this dividend, net investment income per
share would have been $0.22, total return would have been 31.16% and the
ratio of net investment
income to average net assets would have been 0.53%. |
(d) |
Had
certain expenses not been waived/reimbursed during the period, total
returns would have been lower. |
(e) |
The
administrator agreed to waive its fees and/or reimburse a portion of the
Fund’s expenses during the period. Without this waiver/reimbursement,
expenses would have been
higher. |
(f) |
Amount
rounds to less than 0.01%. |
• | Employer-sponsored retirement, deferred compensation and employee benefit plans (including health savings accounts) and trusts used to fund those plans, provided that the shares are not held in a commission-based brokerage account and shares are held for the benefit of the plan; |
• | Shares purchased by a 529 Plan (does not include 529 Plan units or 529-specific share classes or equivalents); |
• | Shares purchased through a Merrill Lynch affiliated investment advisory program; |
• | Shares exchanged due to the holdings moving from a Merrill Lynch affiliated investment advisory program to a Merrill Lynch brokerage (non-advisory) account pursuant to Merrill Lynch’s policies relating to sales load discounts and waivers |
• | Shares purchased by third party investment advisors on behalf of their advisory clients through Merrill Lynch’s platform; |
• | Shares of funds purchased through the Merrill Edge Self-Directed platform (if applicable); |
• | Shares purchased through reinvestment of capital gains distributions and dividend reinvestment when purchasing shares of the same fund (but not any other fund within the fund family); |
• | Shares exchanged from Class C (i.e., level-load) shares of the same fund pursuant to Merrill Lynch’s policies and procedures relating to sales load discounts and waivers; |
• | Employees and registered representatives of Merrill Lynch or its affiliates and their family members; |
• | Directors or Trustees of the Fund, and employees of the Fund’s investment adviser or any of its affiliates, as described in the Prospectus; and |
• | Eligible shares purchased from the proceeds of redemptions within the same fund family, provided (1) the repurchase occurs within 90 days following the redemption, (2) the redemption and purchase occur in the same account, and (3) redeemed shares were subject to a front-end or deferred sales load (known as Rights of Reinstatement). Automated transactions (i.e. systematic purchases and withdrawals) and purchases made after shares are automatically sold to pay Merrill Lynch’s account maintenance fees are not eligible for reinstatement. |
• | Death or disability of the shareholder; |
• | Shares sold as part of a systematic withdrawal plan as described in the Fund’s Prospectus; |
• | Return of excess contributions from an IRA account; |
• | Shares sold as part of a required minimum distribution for IRA and retirement accounts pursuant to the Internal Revenue Code; |
• | Shares sold to pay Merrill Lynch fees but only if the transaction is initiated by Merrill Lynch; |
• | Shares acquired through a right of reinstatement; and |
• | Shares held in retirement brokerage accounts, that are exchanged for a lower cost share class due to transfer to a fee based account or platform (applicable to Class A and C shares only). |
• | Shares received through an exchange due to the holdings moving from a Merrill Lynch affiliated investment advisory program to a Merrill Lynch brokerage (non-advisory) account pursuant to Merrill Lynch’s policies relating to sales load discounts and waivers. |
• | Breakpoints as described in this Prospectus; |
• | Rights of Accumulation (ROA) which entitle shareholders to breakpoint discounts as described in this prospectus will be automatically calculated based on the aggregated holding of fund family assets held by accounts (including 529 program holdings where applicable) within the purchaser’s household at Merrill Lynch. Eligible fund family assets not held at Merrill Lynch may be included in the ROA calculation only if the shareholder notifies his or her financial advisor about such assets; and |
• | Letters of Intent (LOI) which allow for breakpoint discounts based on anticipated purchases within a fund family, through Merrill Lynch, over a 13-month period of time (if applicable). |
3-Month LIBOR, or the London InterBank Offered Rate |
Represents
the average rate at which a leading bank, for a given currency (in this
case, U.S. dollars), can obtain unsecured funding, and is
representative of short-term interest rates. |
Bloomberg U.S. Aggregate Bond Index |
A
broad-based index that covers the U.S. dollar-denominated,
investment-grade, fixed-rate, taxable bond market of SEC-registered
securities.
The index includes bonds from the U.S. Treasury, government-related,
corporate, mortgage-backed securities, asset-backed securities,
and collateralized mortgage-backed securities sectors. |
Bloomberg U.S. Corporate
High-Yield Bond Index |
Measures
the market of U.S. dollar-denominated, non-investment grade, fixed-rate,
taxable corporate bonds. Securities are classified as high
yield if the middle rating of Moody’s, Fitch, and S&P is Ba1/BB+/BB+
or below, excluding emerging market debt. The U.S. Corporate High-Yield
Bond Index was created in 1986, with history backfilled to July 1, 1983,
and rolls up into the Bloomberg U.S. Universal and Global
High-Yield Indices. |
Bloomberg U.S.
Government/Credit Bond Index |
The
index is a broad-based flagship benchmark that measures the
non-securitized component of the U.S. Aggregate Index. The U.S.
Government/Credit
Bond Index includes investment grade, U.S. dollar denominated, fixed rate
Treasuries (i.e., public obligations of the U.S.
Treasury that have remaining maturities of more than one year),
government-related issues (i.e., agency, sovereign, supranational,
and
local authority debt), and corporate securities. The U.S.
Government/Credit Index was launched on January 1, 1979, with index
history
backfilled to 1973, and is a subset of the U.S. Aggregate
Index. |
Bloomberg U.S. Universal Bond Index |
Represents
the union of the U.S. Aggregate Index, the U.S High-Yield Corporate Index,
the 144A Index, the Eurodollar Index, the Emerging
Markets Index, and the non-ERISA portion of the CMBS Index. Municipal
debt, private placements, and non-dollar-denominated
issues are excluded from U.S. Universal Bond Index. The only constituent
of the index that includes floating-rate debt is the Emerging
Markets Index. |
ICE BofA U.S. 3-Month Treasury Bill Index |
The
ICE BofA US 3-Month Treasury Bill Index is comprised of a single issue
purchased at the beginning of the month and held for a full month.
At the end of the month that issue is sold and rolled into a newly
selected issue. The issue selected at each month-end rebalancing
is the outstanding Treasury Bill that matures closest to, but not beyond,
three months from the rebalancing date. To qualify for
selection, an issue must have settled on or before the month-end
rebalancing date. |
ICE BofA U.S. 3-Month Treasury Bill Index +300 basis
points |
Created
by adding 3.00% to the annual return of the ICE BofA 3-Month Treasury Bill
Index. The calculation is performed on a monthly basis
and is subject to the effects of compounding. |
MSCI All Country World ex
USA Index (Net) |
The
MSCI All Country World ex USA Index captures large and mid cap
representation across 22 of 23 Developed Markets (DM) countries
(excluding
the US) and 27 Emerging Markets (EM) countries. With 2,361 constituents,
the index covers approximately 85% of the global equity
opportunity set outside the U.S. |
MSCI World ex USA Index (Net) |
An
unmanaged index that is designed to measure the equity market performance
of developed markets, excluding the United States. |
Russell 1000® Index |
Measures
the performance of the large-cap segment of the U.S. equity universe. It
is a subset of the Russell 3000® Index and includes approximately
1000 of the largest securities based on a combination of their market cap
and current index membership. The Russell 1000®
represents approximately 92% of the U.S. market. The Russell 1000® Index
is constructed to provide a comprehensive and unbiased
barometer for the large-cap segment and is completely reconstituted
annually to ensure new and growing equities are reflected. |
S&P 500® Index |
A
widely recognized measure of U.S. stock market performance. It is an
unmanaged index of 500 common stocks chosen for market size, liquidity,
and industry group representation, among other factors. It also measures
the performance of the large cap segment of the U.S. equities
market. |
Investment
Company Act File No. 811-04323
Investment
Company Act File No. 811-00242
Investment
Company Act File No. 811-06241 |
XLH51-0523 |