4972020-09-30LOOMIS SAYLES FUNDS II0000872649false2021-01-282021-01-28N-1A0.00730.00720.02850.03540.15490.18750.03410.13930.16250.35360.00600.11160.03530.11270.01870.05860.01690.10020.00470.07420.04670.05870.00950.08560.22110.32640.01090.07500.05040.02480.01390.02690.26800.31720.03480.11050.15380.31770.03430.01402020-06-302020-06-302020-03-312012-03-312011-09-302018-12-312013-06-302020-03-31<div style="display:none">~ http://www.icsdelivery.com/role/ShareholderFeesLoomisSaylesCreditIncomeFund column period compact * ~</div><div style="display:none">~ http://www.icsdelivery.com/role/AnnualFundOperatingExpensesLoomisSaylesCreditIncomeFund column period compact * ~</div><div style="display:none">~ http://www.icsdelivery.com/role/ExpenseExampleTransposedLoomisSaylesCreditIncomeFund column period compact * ~</div><div style="display:none">~ http://www.icsdelivery.com/role/ExpenseExampleNoRedemptionTransposedLoomisSaylesCreditIncomeFund column period compact * ~</div><div style="display:none">~ http://www.icsdelivery.com/role/ShareholderFeesLoomisSaylesGlobalAllocationFund column period compact * ~</div><div style="display:none">~ http://www.icsdelivery.com/role/AnnualFundOperatingExpensesLoomisSaylesGlobalAllocationFund column period compact * ~</div><div style="display:none">~ http://www.icsdelivery.com/role/ExpenseExampleTransposedLoomisSaylesGlobalAllocationFund column period compact * ~</div><div style="display:none">~ http://www.icsdelivery.com/role/ExpenseExampleNoRedemptionTransposedLoomisSaylesGlobalAllocationFund column period compact * ~</div><div style="display:none">~ http://www.icsdelivery.com/role/AnnualTotalReturnsBarChartLoomisSaylesGlobalAllocationFund column period compact * ~</div><div style="display:none">~ http://www.icsdelivery.com/role/AverageAnnualTotalReturnsTransposedLoomisSaylesGlobalAllocationFund column period compact * ~</div><div style="display:none">~ http://www.icsdelivery.com/role/ShareholderFeesLoomisSaylesGrowthFund column period compact * ~</div><div style="display:none">~ http://www.icsdelivery.com/role/AnnualFundOperatingExpensesLoomisSaylesGrowthFund column period compact * ~</div><div style="display:none">~ http://www.icsdelivery.com/role/ExpenseExampleTransposedLoomisSaylesGrowthFund column period compact * ~</div><div style="display:none">~ http://www.icsdelivery.com/role/ExpenseExampleNoRedemptionTransposedLoomisSaylesGrowthFund column period compact * ~</div><div style="display:none">~ http://www.icsdelivery.com/role/AnnualTotalReturnsBarChartLoomisSaylesGrowthFund column period compact * ~</div><div style="display:none">~ http://www.icsdelivery.com/role/AverageAnnualTotalReturnsTransposedLoomisSaylesGrowthFund column period compact * ~</div><div style="display:none">~ http://www.icsdelivery.com/role/ShareholderFeesLoomisSaylesLimitedTermGovernmentAndAgencyFund column period compact * ~</div><div style="display:none">~ http://www.icsdelivery.com/role/AnnualFundOperatingExpensesLoomisSaylesLimitedTermGovernmentAndAgencyFund column period compact * ~</div><div style="display:none">~ http://www.icsdelivery.com/role/ExpenseExampleTransposedLoomisSaylesLimitedTermGovernmentAndAgencyFund column period compact * ~</div><div style="display:none">~ http://www.icsdelivery.com/role/ExpenseExampleNoRedemptionTransposedLoomisSaylesLimitedTermGovernmentAndAgencyFund column period compact * ~</div><div style="display:none">~ http://www.icsdelivery.com/role/AnnualTotalReturnsBarChartLoomisSaylesLimitedTermGovernmentAndAgencyFund column period compact * ~</div><div style="display:none">~ http://www.icsdelivery.com/role/AverageAnnualTotalReturnsTransposedLoomisSaylesLimitedTermGovernmentAndAgencyFund column period compact * ~</div><div style="display:none">~ http://www.icsdelivery.com/role/ShareholderFeesLoomisSaylesStrategicIncomeFund column period compact * ~</div><div style="display:none">~ http://www.icsdelivery.com/role/AnnualFundOperatingExpensesLoomisSaylesStrategicIncomeFund column period compact * ~</div><div style="display:none">~ http://www.icsdelivery.com/role/ExpenseExampleTransposedLoomisSaylesStrategicIncomeFund column period compact * ~</div><div style="display:none">~ http://www.icsdelivery.com/role/ExpenseExampleNoRedemptionTransposedLoomisSaylesStrategicIncomeFund column period compact * ~</div><div style="display:none">~ http://www.icsdelivery.com/role/AnnualTotalReturnsBarChartLoomisSaylesStrategicIncomeFund column period compact * ~</div><div style="display:none">~ http://www.icsdelivery.com/role/AverageAnnualTotalReturnsTransposedLoomisSaylesStrategicIncomeFund column period compact * ~</div>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.Other expenses are estimated for the current fiscal year.Other expenses for Class T shares are estimated for the current fiscal year.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 0.82%, 1.57%, 0.52% and 0.57% 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 January 31, 2022 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 the applicable expense limitations for Class A, C, N and Y shares. 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.Natixis Advisors, L.P. (“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 January 31, 2022 and may be terminated before then only with the consent of the Fund’s Board of Trustees.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 1.25%, 2.00%, 0.95%, 1.25% and 1.00% 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 January 31, 2022 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 the applicable expense limitations for Class A, C, N, T and Y shares. 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.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 0.75%, 1.50%, 0.45%, 0.75% and 0.50% 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 January 31, 2022 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 the applicable expense limitations for Class A, C, N, T and Y shares. 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.Natixis Advisors, L.P. (“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 January 31, 2022 and may be terminated before then only with the consent of the Fund’s Board of Trustees. 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%, 0.75% and 1.25% 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 January 31, 2022 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 the applicable expense limitations for Class A, C, N, T, Y and Admin Class shares. 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. Other expenses include acquired fund fees and expenses of less than 0.01%. Other expenses include an administrative services fee of 0.25% for Admin Class shares. Other expenses for Class T shares are estimated for the current fiscal year. Other expenses for Class T shares are estimated for the current fiscal year. The Fund’s operating expenses have been restated to reflect a reduction in management fees, effective as of July 1, 2020, as if such reduction had been in effect during the fiscal year ended September 30, 2020. The information has been restated to better reflect anticipated expenses of the Fund.A 0.75% contingent deferred sales charge (“CDSC”) may apply to certain purchases of Class A shares of $500,000 or more that are redeemed within eighteen months of the date of purchase. 0000872649 2021-02-01 2021-02-01 0000872649 lsfii:S000069661Member 2021-02-01 2021-02-01 0000872649 lsfii:S000006698Member 2021-02-01 2021-02-01 0000872649 lsfii:S000006699Member 2021-02-01 2021-02-01 0000872649 lsfii:S000006702Member 2021-02-01 2021-02-01 0000872649 lsfii:S000006706Member 2021-02-01 2021-02-01 0000872649 lsfii:C000222163Member lsfii:S000069661Member 2021-02-01 2021-02-01 0000872649 lsfii:C000222164Member lsfii:S000069661Member 2021-02-01 2021-02-01 0000872649 lsfii:C000222165Member lsfii:S000069661Member 2021-02-01 2021-02-01 0000872649 lsfii:C000222162Member lsfii:S000069661Member 2021-02-01 2021-02-01 0000872649 lsfii:C000027670Member lsfii:S000006698Member 2021-02-01 2021-02-01 0000872649 lsfii:C000027671Member lsfii:S000006698Member 2021-02-01 2021-02-01 0000872649 lsfii:C000182249Member lsfii:S000006698Member 2021-02-01 2021-02-01 0000872649 lsfii:C000188534Member lsfii:S000006698Member 2021-02-01 2021-02-01 0000872649 lsfii:C000018226Member lsfii:S000006698Member 2021-02-01 2021-02-01 0000872649 lsfii:C000018230Member lsfii:S000006699Member 2021-02-01 2021-02-01 0000872649 lsfii:C000188535Member lsfii:S000006699Member 2021-02-01 2021-02-01 0000872649 lsfii:C000125484Member lsfii:S000006699Member 2021-02-01 2021-02-01 0000872649 lsfii:C000018229Member lsfii:S000006699Member 2021-02-01 2021-02-01 0000872649 lsfii:C000018227Member lsfii:S000006699Member 2021-02-01 2021-02-01 0000872649 lsfii:S000006702Member lsfii:C000018242Member 2021-02-01 2021-02-01 0000872649 lsfii:S000006702Member lsfii:C000188538Member 2021-02-01 2021-02-01 0000872649 lsfii:S000006702Member lsfii:C000182250Member 2021-02-01 2021-02-01 0000872649 lsfii:S000006702Member lsfii:C000018241Member 2021-02-01 2021-02-01 0000872649 lsfii:S000006702Member lsfii:C000018239Member 2021-02-01 2021-02-01 0000872649 lsfii:S000006706Member lsfii:C000082999Member 2021-02-01 2021-02-01 0000872649 lsfii:S000006706Member lsfii:C000018254Member 2021-02-01 2021-02-01 0000872649 lsfii:S000006706Member lsfii:C000188539Member 2021-02-01 2021-02-01 0000872649 lsfii:S000006706Member lsfii:C000125487Member 2021-02-01 2021-02-01 0000872649 lsfii:S000006706Member lsfii:C000018253Member 2021-02-01 2021-02-01 0000872649 lsfii:S000006706Member lsfii:C000018251Member 2021-02-01 2021-02-01 0000872649 rr:AfterTaxesOnDistributionsMember lsfii:C000018226Member lsfii:S000006698Member 2021-02-01 2021-02-01 0000872649 rr:AfterTaxesOnDistributionsAndSalesMember lsfii:C000018226Member lsfii:S000006698Member 2021-02-01 2021-02-01 0000872649 lsfii:MsciAllCountryWorldIndexMember lsfii:S000006698Member 2021-02-01 2021-02-01 0000872649 lsfii:BlendedIndexMember lsfii:S000006698Member 2021-02-01 2021-02-01 0000872649 rr:AfterTaxesOnDistributionsMember lsfii:C000018230Member lsfii:S000006699Member 2021-02-01 2021-02-01 0000872649 rr:AfterTaxesOnDistributionsAndSalesMember lsfii:S000006699Member lsfii:C000018230Member 2021-02-01 2021-02-01 0000872649 lsfii:Russell1000GrowthIndexMember lsfii:S000006699Member 2021-02-01 2021-02-01 0000872649 lsfii:S000006702Member lsfii:C000018242Member rr:AfterTaxesOnDistributionsMember 2021-02-01 2021-02-01 0000872649 lsfii:S000006702Member lsfii:C000018242Member rr:AfterTaxesOnDistributionsAndSalesMember 2021-02-01 2021-02-01 0000872649 lsfii:S000006702Member lsfii:BloombergBarclaysUs15YearGovernmentBondIndexMember 2021-02-01 2021-02-01 0000872649 lsfii:S000006706Member lsfii:C000018254Member rr:AfterTaxesOnDistributionsMember 2021-02-01 2021-02-01 0000872649 lsfii:S000006706Member lsfii:C000018254Member rr:AfterTaxesOnDistributionsAndSalesMember 2021-02-01 2021-02-01 0000872649 lsfii:S000006706Member lsfii:BloombergBarclaysUsAggregateBondIndexMember 2021-02-01 2021-02-01 0000872649 lsfii:S000006706Member lsfii:BloombergBarclaysUsUniversalBondIndexMember 2021-02-01 2021-02-01 iso4217:USD xbrli:pure
 
Prospectus

February 1, 2021
g1pr3801img007.jpg
 
Class A
Class C
Class N
Class T
*
Class Y
Admin
Class
Loomis Sayles Core Plus Bond Fund
NEFRX
NECRX
NERNX
LCPTX
NERYX
Loomis Sayles Credit Income Fund
LOCAX
LOCCX
LOCNX
LOCYX
Loomis Sayles Global Allocation Fund
LGMAX
LGMCX
LGMNX
LGMTX
LSWWX
Loomis Sayles Growth Fund
LGRRX
LGRCX
LGRNX
LGRTX
LSGRX
Loomis Sayles Intermediate Duration Bond
Fund
LSDRX
LSCDX
LSDNX
LSDTX
LSDIX
Loomis Sayles Limited Term Government and
Agency Fund
NEFLX
NECLX
LGANX
LGATX
NELYX
Loomis Sayles Strategic Income Fund
NEFZX
NECZX
NEZNX
LSSTX
NEZYX
NEZAX
*
Class T shares of the Funds are not currently available for purchase.
The Securities and Exchange Commission (“SEC”) has not approved or disapproved any Fund’s shares or determined whether this Prospectus is truthful
or complete. Any representation to the contrary is a crime.


 
Table of Contents
 
59
Fund shares are not bank deposits and are not guaranteed, endorsed or insured by the Federal Deposit Insurance Corporation or any other government
agency, and are subject to investment risks, including possible loss of the principal invested.

 

Fund Summary
 

 
Loomis Sayles Core Plus Bond Fund
Investment Goal
The Fund seeks high total investment return through a combination of current income and capital appreciation.
Fund Fees & Expenses
The following table describes the fees and expenses that you may pay if you buy, hold, and sell shares of the Fund. You may pay other fees, such as
brokerage commissions and other fees to financial intermediaries, which are not reflected in this table. You may qualify for sales charge discounts if you and
your family invest, or agree to invest in the future, at least $100,000 in the Natixis Funds Complex. More information about these and other discounts is
available from your financial professional and in the section “How Sales Charges Are Calculated” on page
6
2
 of the Prospectus
, in Appendix A to the
Prospectus and on page 
12
0
 in the section “Reduced Sales Charges” of the Statement of Additional Information (“SAI”).
Shareholder Fees
(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.
Annual Fund Operating Expenses
(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
0.32%
0.32%
0.32%
0.32%
0.32%
Distribution and/or service (12b-1) fees
0.25%
1.00%
0.00%
0.25%
0.00%
Other expenses
0.15%
0.15%
0.06%
0.15%
1
0.15%
Total annual fund operating expenses
0.72%
1.47%
0.38%
0.72%
0.47%
Fee waiver and/or expense reimbursement
2
0.00%
0.00%
0.00%
0.00%
0.00%
Total annual fund operating expenses after fee waiver and/or expense reimbursement
0.72%
1.47%
0.38%
0.72%
0.47%
1
Other expenses for Class T shares are estimated for the current fiscal year.
2
Loomis, Sayles & Company, L.P. (“Loomis Sayles” or the “Adviser”) and Natixis Advisors, L.P., the Fund’s advisory administrator, have given a binding contractual undertaking
to the Fund to limit the amount of the Fund’s total annual fund operating expenses to 0.75%, 1.50%, 0.45%, 0.75% and 0.50% of the Fund’s average daily net assets for Class A, C,
N, T and Y shares, respectively, exclusive of acquired fund fees and expenses, brokerage expenses, interest expense, taxes, and organizational and extraordinary expenses,
such as litigation and indemnification expenses. This undertaking is in effect through January 31, 2022 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 the applicable expense limitations for Class A, C, N, T and Y shares. 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.
Example
This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that
you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods (except where indicated). The
example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. The example does not take
into account brokerage commissions and other fees to financial intermediaries that you may pay on your purchases and sales of shares of the Fund. Although
your actual costs may be higher or lower, based on these assumptions your costs would be:
If shares are redeemed:
1 year
3 years
5 years
10 years
Class A
$
495
$
645
$
809
$
1,281
Class C
$
250
$
465
$
803
$
1,757
Class N
$
39
$
122
$
213
$
480
Class T
$
322
$
474
$
641
$
1,122
Class Y
$
48
$
151
$
263
$
591

 
1
 

Fund Summary
 

 
If shares are not redeemed:
1 year
3 years
5 years
10 years
Class C
$
150
$
465
$
803
$
1,757
Portfolio Turnover
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may
indicate higher transaction costs and may result in higher taxes for you if your Fund shares are held in a taxable account. These costs, which are not reflected
in annual fund operating expenses or in the example, affect the Fund’s performance. During its most recently ended fiscal year, the Fund’s portfolio turnover
rate was
359% of the average value of its portfolio.
Investments, Risks and Performance
Principal Investment Strategies
Under normal market conditions, the Fund will invest at least 80% of its net assets (plus any borrowings made for investment purposes) in bonds, which
include debt securities of any maturity. In addition, the Fund will invest at least 65% of its net assets in investment grade securities. “Investment grade”
securities are those securities that are rated in one of the top four ratings categories at the time of purchase by at least one of the three major ratings
agencies (Moody’s Investors Service, Inc. (“Moody’s”), Fitch Investors Services, Inc. (“Fitch”) or S&P Global Ratings (“S&P”)), or, if unrated, are determined by
the Adviser to be of comparable quality. For purposes of this restriction, investment grade securities also include cash and cash equivalent securities. The
Fund will generally seek to maintain an effective duration of +/- 2 years relative to the Bloomberg Barclays U.S. Aggregate Bond Index. Duration is a measure
of the expected life of a fixed-income security that is used to determine the sensitivity of a security’s price to changes in interest rates. A fund with a longer
average portfolio duration will be more sensitive to changes in interest rates than a fund with a shorter average portfolio duration. By way of example, the
price of a bond fund with an average duration of five years would be expected to fall approximately 5% if interest rates rose by one percentage point. While
the effective duration for the Bloomberg Barclays U.S. Aggregate Bond Index fluctuates, as of December 31, 2020, the effective duration was approximately
6.17 years. The Fund may also invest up to 20% of its assets, at the time of purchase, in bonds rated below investment grade (i.e., none of the three major
ratings agencies (Moody’s, Fitch or S&P) have rated the securities in one of their top four ratings categories) (commonly known as “junk bonds”), or, if
unrated, securities determined by the Adviser to be of comparable quality, and up to 10% of its assets in non-U.S. dollar-denominated securities. There is no
minimum rating for the securities in which the Fund may invest.
The Fund’s investments may include securities issued by U.S. and non-U.S. corporations and governments, securities issued by supranational entities, U.S.
government-sponsored agency debenture and pass-through securities, commercial mortgage-backed and other asset-backed securities and inflation-linked
securities.
The portfolio management team seeks to build and manage a portfolio that will perform well on a benchmark-relative and, secondarily, on an absolute basis
in the market environment it anticipates over the short to intermediate term. The primary factors for broad sector positioning are the Adviser’s expected
performance of sectors in the benchmark and the incremental performance or diversification benefits the Fund’s portfolio managers anticipate from
opportunistic allocations to securities that are not included in the Fund’s benchmark. In addition, the Fund’s portfolio managers will look at individual security
selection, position size and overall duration contribution to the portfolio.
Purchase and sale considerations also include overall portfolio yield, interest rate sensitivity across different maturities held, fixed-income sector
fundamentals and outlook, technical supply/demand factors, credit risk, cash flow variability, security optionality and structure, as well as potential currency
and liquidity risk. The Adviser also considers economic factors. Individual securities are assessed on a risk/return basis, both on a benchmark-relative and on
an absolute return basis, and on their fit within the overall portfolio strategy.
Specifically, the Adviser follows a total return-oriented investment approach and considers broad sector allocation, quality and liquidity bias, yield curve
positioning and duration in selecting securities for the Fund. The Fund’s portfolio managers consider economic and market conditions as well as issuer-
specific data, such as fixed-charge coverage, the relationship between cash flows and debt service obligations, the experience and perceived strength of
management or security structure, price responsiveness of the security to interest rate changes, earnings prospects, debt as a percentage of assets,
borrowing requirements, debt maturity schedules and liquidation value.
In selecting investments for the Fund, the Adviser’s research analysts and sector teams work closely with the Fund’s portfolio managers to develop an outlook
for the economy from research produced by various financial firms and specific forecasting services or from economic data released by U.S. and foreign
governments, as well as the Federal Reserve Bank. The analysts conduct a thorough review of individual securities to identify what they consider attractive
values in the high quality bond market through the use of quantitative tools such as internal and external computer systems and software. The Adviser
continuously monitors an issuer’s creditworthiness or cash flow stability to assess whether the obligation remains an appropriate investment for the Fund. It
may relax its emphasis on quality with respect to a given security if it believes that the issuer’s financial outlook is promising. This may create an opportunity
for higher returns. The Adviser seeks to balance opportunities for yield and price performance by combining macro economic analysis with individual security
selection. Fund holdings are generally diversified across sectors and industry groups such as utilities or telecommunications, which tend to move
independently of the ebbs and flows in economic growth.

 
2
 

Fund Summary
 

 
In connection with its principal investment strategies, the Fund may also invest in securities issued pursuant to Rule 144A under the Securities Act of 1933
(“Rule 144A securities”), structured notes, collateralized loan obligations, foreign securities, including those in emerging markets, mortgage-related
securities, including mortgage dollar rolls, futures and swaps (including credit default swaps). The Fund may use such derivatives for hedging or investment
purposes. The Fund may also engage in currency transactions, including forward currency contracts. Except as provided above or as required by applicable
law, the Fund is not limited in the percentage of its assets that it may invest in these instruments.
The Fund may engage in active and frequent trading of securities and other instruments. Effects of frequent trading may include high transaction costs,
which may lower the Fund’s returns, and realization of short-term capital gains, distributions of which are taxable to shareholders who are individuals as
ordinary income. Trading costs and tax effects associated with frequent trading may adversely affect the Fund’s performance.
Principal Investment Risks
The principal risks of investing in the Fund are summarized below. The Fund does not represent a complete investment program. You may lose money
by investing in the Fund. 
The significance of any specific risk to an investment in the Fund will vary over time, depending on the composition of the Fund’s portfolio, market conditions,
and other factors. You should read all of the risk information presented below carefully, because any one or more of these risks may result in losses to the
Fund.
Interest Rate Risk:
Interest rate risk is the risk that the value of the Fund’s investments will fall if interest rates rise.
 Generally, the value of fixed-income
securities rises when prevailing interest rates fall and falls when interest rates rise.  Interest rate risk generally is greater for funds that invest in fixed-income
securities with relatively longer durations than for funds that invest in fixed-income securities with shorter durations. 
 In addition, an economic downturn or
period of rising interest rates could adversely affect the market for these securities and reduce the Fund’s ability to sell them, negatively impacting the
performance of the Fund. Potential future changes in government monetary policy may affect the level of interest rates. 
Currency Risk:
Fluctuations in the exchange rates between different currencies may negatively affect an investment. The Fund may be subject to currency
risk because it may invest in currency-related instruments and may invest in securities or other instruments denominated in, or that generate income
denominated in, foreign currencies. 
The Fund may elect not to hedge currency risk, or may hedge such risk imperfectly, which may cause the Fund to incur
losses that would not have been incurred had the risk been hedged. 
Below Investment Grade Fixed-Income Securities Risk:
The Fund’s investments in below investment grade fixed-income securities, also known as
“junk bonds,” may be subject to greater risks than other fixed-income securities, including being subject to greater levels of interest rate risk,
credit/counterparty risk (including a greater risk of default) and liquidity risk. The ability of the issuer to make principal and interest payments is predominantly
speculative for below investment grade fixed-income securities.
Credit/Counterparty Risk:
Credit/counterparty risk is the risk that the issuer or guarantor of a fixed-income security, or the counterparty to a derivative or
other transaction, will be unable or unwilling to make timely payments of interest or principal or to otherwise honor its obligations. As a result, the Fund may
sustain losses or be unable or delayed in its ability to realize gains. The Fund will be subject to credit/counterparty risks with respect to the counterparties to
its derivatives transactions. This risk will be heightened to the extent the Fund enters into derivative transactions with a single counterparty (or affiliated
counterparties that are part of the same organization), causing the Fund to have significant exposure to such counterparty. Many of the protections afforded
to participants on organized exchanges and clearing houses, such as the performance guarantee given by a central clearing house, are not available in
connection with over-the-counter (“OTC”) derivatives transactions, such as foreign currency transactions. For centrally cleared
d
erivat
iv
es, such as cleared
swaps, futures and many options, the primary credit/counterparty risk is the creditworthiness of the Fund’s clearing broker and the central clearing house
itself. 
Mortgage-Related and Asset-Backed Securities Risk:
In addition to the risks associated with investments in fixed-income securities generally (for
example, credit, liquidity and valuation risk), mortgage-related and asset-backed securities are subject to the risks of the mortgages and assets underlying the
securities as well as prepayment risk, the risk that the securities may be prepaid and result in the reinvestment of the prepaid amounts in securities with
lower yields than the prepaid obligations. Conversely, there is a risk that a rise in interest rates will extend the life of a mortgage-related or asset-backed
security beyond the expected prepayment time, typically reducing the security’s value, which is called extension risk. The Fund also may incur a loss when
there is a prepayment of securities that were purchased at a premium. The Fund’s investments in other asset-backed securities are subject to risks similar to
those associated with mortgage-related securities, as well as additional risks associated with the nature of the assets and the servicing of those assets.
Cybersecurity and Technology Risk:
The Fund, its service providers, and other market participants increasingly depend on complex information
technology and communications systems, which are subject to a number of different threats and risks that could adversely affect the Fund and its
shareholders. Cybersecurity and other operational and technology issues may result in financial losses to the Fund and its shareholders.
Derivatives Risk:
Derivative instruments (such as those in which the Fund may invest, including forward currency contracts, structured notes, futures and
swaps (including credit default swaps)) are subject to changes in the value of the underlying assets or indices on which such instruments are based. There is
no guarantee that the use of derivatives will be effective or that suitable transactions will be available. Even a small investment in derivatives may give rise
to leverage risk and can have a significant impact on the Fund’s exposure to securities markets values, interest rates or currency exchange rates. It is possible
that the Fund’s liquid assets may be insufficient to support its obligations under its derivatives positions. The use of derivatives for other than hedging
purposes may be considered a speculative activity, and involves greater risks than are involved in hedging. The use of derivatives may cause the Fund to incur
losses greater than those that would have occurred had derivatives not been used. The Fund’s use of derivatives, such as
forward currency contracts,

 
3
 

Fund Summary
 

 
structured notes, futures transactions and swaps (including credit default swaps) involves other risks, such as the credit risk relating to the other party to a
derivative contract (which is greater for forward currency contracts, uncleared swaps and other OTC derivatives), the risk of difficulties in pricing and
valuation, the risk that changes in the value of a derivative may not correlate as expected with changes in the value of relevant assets, rates or indices;
liquidity risk; allocation risk and the risk of losing more than the initial margin (if any) required to initiate derivatives positions. There is also the risk that the
Fund may be unable to terminate or sell a derivative position at an advantageous time or price. The Fund’s derivative counterparties may experience financial
difficulties or otherwise be unwilling or unable to honor their obligations, possibly resulting in losses to the Fund. 
Emerging Markets Risk:
In addition to the risks of investing in foreign investments generally, emerging markets investments are subject to greater risks
arising from political or economic instability, nationalization or confiscatory taxation, currency exchange restrictions, sanctions by other countries (such as the
United States) and an issuer’s unwillingness or inability to make principal or interest payments on its obligations. Emerging markets companies may be
smaller and have shorter operating histories than companies in developed markets.
Foreign Securities Risk:
Investments in foreign securities may be subject to greater political, economic, environmental, credit/counterparty
and information
risks. The Fund’s investments in foreign securities also are subject to foreign currency fluctuations and other foreign currency-related risks. Foreign securities
may be subject to higher volatility than U.S. securities, varying degrees of regulation and limited liquidity.
Inflation/Deflation Risk:
 Inflation risk is the risk that the value of assets or income from investments will be worth less in the future as inflation decreases
the present value of future payments. Deflation risk is the risk that prices throughout the economy decline over time - the opposite of inflation. Deflation may
have an adverse effect on the creditworthiness of issuers and may make issuer default more likely, which may result in a decline in the value of the Fund’s
portfolio.
Leverage Risk:
Leverage is the risk associated with securities or investment practices (e.g., borrowing and use of certain derivatives) that multiply small
index, market or asset-price movements into larger changes in value. The use of leverage increases the impact of gains and losses on the Fund’s returns, and
may lead to significant losses if investments are not successful.
Liquidity Risk:
  Liquidity risk is the risk that the Fund may be unable to find a buyer for its investments when it seeks to sell them or to receive the price it
expects. Decreases in the number of financial institutions willing to make markets in the Fund’s investments or in their capacity or willingness to transact may
increase the Fund’s exposure to this risk. Events that may lead to increased redemptions, such as market disruptions or increases in interest rates, may also
negatively impact the liquidity of the Fund’s investments when it needs to dispose of them. If the Fund is forced to sell its investments at an unfavorable time
and/or under adverse conditions in order to meet redemption requests, such sales could negatively affect the Fund. Securities acquired in a private
placement, such as Rule 144A securities, are generally subject to significant liquidity risk because they are subject to strict restrictions on resale and there
may be no liquid secondary market or ready purchaser for such securities.
Derivatives, and particularly OTC derivatives, are generally subject to liquidity risk
as well. Liquidity issues may also make it difficult to value the Fund’s investments.
Management Risk:
A strategy used by the Fund’s 
portfolio managers may fail to produce the intended result.
 
Market/Issuer Risk:
The market value of the Fund’s investments will move up and down, sometimes rapidly and unpredictably, based upon overall market
and economic conditions, as well as a number of reasons that directly relate to the issuers of the Fund’s investments, such as management performance,
financial condition and demand for the issuers’ goods and services. 
Risk/Return Bar Chart and Table
The bar chart and table shown below provide some indication of the risks of investing in the Fund by showing changes in the Fund’s performance from year-
to-year and by showing how the Fund’s average annual returns for the one-year, five-year, ten-year and life-of-class periods (as applicable) compare to those
of a broad measure of market performance. The Fund’s past performance (before and after taxes) does not necessarily indicate how the Fund will perform in
the future. Updated performance information is available online at im.natixis.com and/or by calling the Fund toll-free at 800-225-5478.
The chart does not reflect any sales charge that you may be required to pay when you buy or redeem the Fund’s shares. A sales charge will reduce your
return.
Total Returns for Class Y Shares
g1pr3801img003.jpg
 
Highest Quarterly Return:
Second Quarter 2020,
5.25%


Lowest Quarterly Return:
Second Quarter 2013,
-3.50%

 
4
 

Fund Summary
 

 
Average Annual Total Returns
(for the periods ended December 31, 2020)
Past 1 Year
Past 5 Years
Past 10 Years
Life of Class N

(2/1/13)
Class Y - Return Before Taxes
10.63%
6.25%
5.18%
-
Return After Taxes on Distributions
8.80%
4.82%
3.59%
-
Return After Taxes on Distributions and Sale of Fund Shares
6.34%
4.19%
3.34%
-
Class A - Return Before Taxes
5.57%
5.07%
4.47%
-
Class C - Return Before Taxes
8.51%
5.19%
4.14%
-
Class N - Return Before Taxes
10.71%
6.36%
-
4.22%
Class T - Return Before Taxes
7.52%
5.45%
4.66%
-
Bloomberg Barclays U.S. Aggregate Bond Index
7.51%
4.44%
3.84%
3.43%
The Fund did not have Class T shares outstanding during the periods shown above. The returns of Class T shares would have been substantially similar to the
returns of the Fund’s other share classes because they would have been invested in the same portfolio of securities and would only differ to the extent the
other share classes did not have the same expenses. Performance of Class T shares shown above is that of Class A shares, which have the same expenses as
Class T shares, restated to reflect the different sales load applicable to Class T shares. 
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who
hold their shares through tax-advantaged arrangements, such as 401(k) plans, qualified plans, education savings accounts, such as 529 plans, or individual
retirement accounts. The after-tax returns are shown for only one class of the Fund. After-tax returns for the other classes of the Fund will vary. Index
performance reflects no deduction for fees, expenses or taxes.
Management
Investment Adviser
Loomis, Sayles & Company, L.P. 
Portfolio Managers
Lead Portfolio Managers
Peter W. Palfrey, CFA
®
, Vice President of the Adviser, has served as co-lead portfolio manager of the Fund since 1996.
Richard G. Raczkowski, Executive Vice President and Director of the Adviser, has served as co-lead portfolio manager of the Fund since 1999.
Agency MBS Portfolio Managers
Ian Anderson, Vice President of the Adviser, has served as co-agency MBS portfolio manager of the Fund since 2020. 
Barath W. Sankaran, CFA
®
, Vice President of the Adviser, has served as co-agency MBS portfolio manager of the Fund since 2020.
Purchase and Sale of Fund Shares
Class A and C Shares
The following chart shows the investment minimums for various types of accounts:
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
There is no initial or subsequent investment minimum for:
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.

 
5
 

Fund Summary
 

 
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.
The minimum investment requirements for Class A shares may be waived or lowered for investments effected through certain financial intermediaries that have entered into special arrangements with Natixis Distribution, L.P. (the “Distributor”). Consult your financial intermediary for additional information regarding the minimum investment requirement applicable to your investment.
Class N Shares
Class N shares of the Fund are subject to a $1,000,000 initial investment minimum. This minimum applies to Fee Based Programs and accounts (such as wrap
accounts) where an advisory fee is paid to the broker-dealer or other financial intermediary, accounts established via a transfer, or any other transaction in
which a new account is established. There is no subsequent investment minimum for these shares. There is no initial investment minimum for:
 
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.
 
In its sole discretion, the Distributor may waive the investment minimum requirement for accounts as to which the Distributor reasonably believes will have
enough assets to exceed the investment minimum requirement within a relatively short period of time following the establishment date of such accounts in
Class N. If, after two years, an account’s value does not exceed the investment minimum requirement, the Distributor and the Fund reserve the right to
redeem such account.
Class T Shares
Class T shares of the Fund are not currently available for purchase.
Class T shares of the Fund may only be purchased by investors who are investing through an authorized third party, such as a broker-dealer or other financial
intermediary, that has entered into a selling agreement with Natixis Distribution, L.P. Investors may not hold Class T shares directly with the Fund. Class T
shares are subject to a minimum initial investment of $2,500 and a minimum subsequent investment of $50.  Not all financial intermediaries make Class T
shares available to their clients.
Class Y Shares
Class Y shares of the Fund are generally subject to a minimum initial investment of $100,000 and a minimum subsequent investment of $50, except there is
no minimum initial or subsequent investment for:
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.
At the discretion of Natixis Advisors, L.P., clients of Natixis Advisors, L.P. and its affiliates may purchase Class Y shares of the Fund below the stated
minimums.
Due to operational limitations at your financial intermediary, certain fee based programs, retirement plans, individual retirement accounts and accounts of
registered investment advisers may be subject to the investment minimums described above.


The Fund’s shares are available for purchase and are redeemable on any business day through your investment dealer, directly from the Fund by writing to the
Fund at Natixis Funds, P.O. Box 219579, Kansas City, MO 64121-9579, by exchange, by wire, by internet at im.natixis.com (certain restrictions may apply),
through the Automated Clearing House system, or, in the case of redemptions, by telephone at 800-225-5478 or by the Systematic Withdrawal Plan. 
Tax Information
Fund distributions are generally taxable to you as ordinary income or capital gains, except for distributions to retirement plans and other investors that qualify
for tax-advantaged treatment under U.S. federal income tax law generally. Investments in such tax-advantaged plans will generally be taxed only upon
withdrawal of monies from the tax-advantaged arrangement.

 
6
 

Fund Summary
 

 
Payments to Broker-Dealers and Other Financial Intermediaries
If you purchase shares of the Fund through a broker-dealer or other financial intermediary (such as a bank), the Fund and its related companies may pay the
intermediary for the sale of the Fund shares and related services. These payments may create a conflict of interest by influencing the broker-dealer or other
intermediary and your salesperson to recommend the Fund over another investment. Ask your salesperson or visit your financial intermediary’s website for
more information.

 
7
 

Fund Summary
 

 
Loomis Sayles Credit Income Fund
Investment Goal
The Fund seeks high current income with a secondary objective of capital growth.
Fund Fees & Expenses
The following table describes the fees and expenses that you may pay if you buy, hold, and sell shares of the Fund. You may pay other fees, such as
brokerage commissions and other fees to financial intermediaries, which are not reflected in this table. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $100,000 in the Natixis Funds Complex.
More information about these and other discounts is
available from your financial professional and in the section “How Sales Charges Are Calculated” on page
62 of the Prospectus
, in Appendix A to the
Prospectus and on page 
120
in the section “Reduced Sales Charges” of the Statement of Additional Information (“SAI”).
Shareholder Fees
(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)
4.25%
None
None
None
Maximum deferred sales charge (load) (as a percentage of original purchase price or redemption proceeds, as
applicable)
None
1
1.00%
None
None
Redemption fees
None
None
None
None
1
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.
Annual Fund Operating Expenses
(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
0.42%
0.42%
0.42%
0.42%
Distribution and/or service (12b-1) fees
0.25%
1.00%
0.00%
0.00%
Other expenses
1
0.69%
0.69%
1.00%
0.69%
Total annual fund operating expenses
1.36%
2.11%
1.42%
1.11%
Fee waiver and/or expense reimbursement
2
,
3
0.54%
0.54%
0.90%
0.54%
Total annual fund operating expenses after fee waiver and/or expense reimbursement
0.82%
1.57%
0.52%
0.57%
1
Other expenses are estimated for the current fiscal year.
2
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 0.82%, 1.57%, 0.52% and 0.57% 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 January 31, 2022 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 the applicable expense limitations for Class A, C,
N and Y shares. 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.
3
Natixis Advisors, L.P. (“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 January 31, 2022 and may be terminated before then only with the consent of the Fund’s Board of Trustees.
Example
This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that
you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods (except where indicated). The
example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same, except that the example is
based on the Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement assuming that such waiver and/or reimbursement will
only be in place through the date noted above and on the Total Annual Fund Operating Expenses for the remaining periods. The example does not take into
account brokerage commissions and other fees to financial intermediaries that you may pay on your purchases and sales of shares of the Fund. Although
your actual costs may be higher or lower, based on these assumptions your costs would be:

 
8
 

Fund Summary
 

 
If shares are redeemed:
1 year
3 years
5 years
10 years
Class A
$
505
$
786
$
1,089
$
1,946
Class C
$
260
$
609
$
1,084
$
2,399
Class N
$
53
$
361
$
690
$
1,624
Class Y
$
58
$
299
$
559
$
1,303
If shares are not redeemed:
1 year
3 years
5 years
10 years
Class C
$
160
$
609
$
1,084
$
2,399
Portfolio Turnover
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may
indicate higher transaction costs and may result in higher taxes for you if your Fund shares are held in a taxable account. These costs, which are not reflected
in annual fund operating expenses or in the example, affect the Fund’s performance. For the period from the Fund’s commencement of operations on
September 29, 2020 through September 30, 2020, the Fund’s portfolio turnover rate was 0% of the average value of its portfolio. 
Investments, Risks and Performance
Principal Investment Strategies
Under normal market conditions, the Fund will invest at least 80% of its net assets (plus any borrowings made for investment purposes) in fixed-income
securities (for example, bonds and other investments that Loomis Sayles believes have similar economic characteristics, such as notes, debentures and
loans).
The Fund will primarily invest in investment-grade-fixed-income securities. The Fund may also invest up to 35% of its assets in below investment-grade fixed-
income securities (commonly known as “junk bonds”). Below investment-grade fixed-income securities are rated below investment-grade quality (i.e., none of
the three major rating agencies (Moody’s Investors Service, Inc., Fitch Investor Services, Inc. or S&P Global Ratings) have rated the securities in one of their
respective top four ratings categories). The Fund’s fixed-income securities investments may include unrated securities (securities that are not rated by a rating
agency) if Loomis Sayles determines that the securities are of comparable quality to rated securities that the Fund may purchase. There is no minimum rating
for the securities in which the Fund may invest. The Fund may invest in fixed-income securities of any maturity. The Fund may invest in securities of any
duration.
The Fund will primarily invest in fixed-income securities of domestic and foreign corporate issuers. The Fund may invest up to 30% of its assets in foreign
securities, including emerging markets securities. Although certain securities purchased by the Fund may be issued by domestic companies incorporated
outside of the United States, Loomis Sayles does not consider these securities to be foreign if the issuer is included in the U.S. fixed-income indices published
by Bloomberg Barclays. The Fund will only invest in U.S. dollar denominated securities.
In deciding which securities to buy and sell, Loomis Sayles may consider a number of factors related to the bond issue and the current bond market, including,
for example, the financial strength of the issuer, current interest rates, current valuations and Loomis Sayles’ expectations regarding general trends in interest
rates. Loomis Sayles will also consider how purchasing or selling a bond would impact the overall portfolio’s risk profile (for example, its sensitivity to interest
rate risk and sector-specific risk) and potential return (income and capital gains).
Three themes typically drive the Fund’s investment approach. First, Loomis Sayles generally seeks fixed-income securities that are attractively valued relative
to the Loomis Sayles’ credit research team’s assessment of credit risk. This includes seeking to capture credit improvement situations based on forward-
looking proprietary research. The broad coverage combined with the objective of identifying attractive investment opportunities makes this an important
component of the investment approach. Second, the Fund may invest significantly in securities the prices of which Loomis Sayles believes are more sensitive
to events related to the underlying issuer than to changes in general interest rates or overall market default rates. These securities may not have a direct
correlation with changes in interest rates, thus helping to manage interest rate risk and to offer diversified sources for return. Third, Loomis Sayles analyzes
different sectors of the economy and differences in the yields (“spreads”) of various fixed-income securities (U.S. government securities, investment-grade
securities, securitized assets, high-yield securities, emerging market securities, non-U.S. sovereigns and credits, convertible securities, bank loans and
municipal securities) in an effort to find securities that it believes may produce attractive returns for the Fund in comparison to their risk.
The Fund may also invest in U.S. government securities, bank loans, collateralized loan obligations, convertible securities and securities issued pursuant to
Rule 144A under the Securities Act of 1933 (“Rule 144A securities”). The Fund may also invest in futures, forward contracts and swaps (including credit
default swaps) for hedging and investment purposes.
Principal Investment Risks
The principal risks of investing in the Fund are summarized below. The Fund does not represent a complete investment program. You may lose money
by investing in the Fund. 
 

 
9
 

Fund Summary
 

 
The significance of any specific risk to an investment in the Fund will vary over time, depending on the composition of the Fund’s portfolio, market conditions,
and other factors. You should read all of the risk information presented below carefully, because any one or more of these risks may result in losses to the
Fund.
Credit/Counterparty Risk:
Credit/counterparty risk is the risk that the issuer or guarantor of a fixed-income security, or the counterparty to a derivative or
other transaction, will be unable or unwilling to make timely payments of interest or principal or to otherwise honor its obligations. As a result, the Fund may
sustain losses or be unable or delayed in its ability to realize gains. The Fund will be subject to credit/counterparty risks with respect to the counterparties to
its derivatives transactions. This risk will be heightened to the extent the Fund enters into derivative transactions with a single counterparty (or affiliated
counterparties that are part of the same organization), causing the Fund to have significant exposure to such counterparty. Many of the protections afforded
to participants on organized exchanges and clearing houses, such as the performance guarantee given by a central clearing house, are not available in
connection with over-the-counter (“OTC”) derivatives transactions, such as foreign currency transactions. For centrally cleared
d
erivat
iv
es, such as cleared
swaps, futures and many options, the primary credit/counterparty risk is the creditworthiness of the Fund’s clearing broker and the central clearing house
itself. 
Interest Rate Risk:
Interest rate risk is the risk that the value of the Fund’s investments will fall if interest rates rise.
 Generally, the value of fixed-income
securities rises when prevailing interest rates fall and falls when interest rates rise.  Interest rate risk generally is greater for funds that invest in fixed-income
securities with relatively longer durations than for funds that invest in fixed-income securities with shorter durations. 
 In addition, an economic downturn or
period of rising interest rates could adversely affect the market for these securities and reduce the Fund’s ability to sell them, negatively impacting the
performance of the Fund. Potential future changes in government monetary policy may affect the level of interest rates. 
Below Investment Grade Fixed-Income Securities Risk:
The Fund’s investments in below investment grade fixed-income securities, also known as
“junk bonds,” may be subject to greater risks than other fixed-income securities, including being subject to greater levels of interest rate risk,
credit/counterparty risk (including a greater risk of default) and liquidity risk. The ability of the issuer to make principal and interest payments is predominantly
speculative for below investment grade fixed-income securities.
Market/Issuer Risk:
The market value of the Fund’s investments will move up and down, sometimes rapidly and unpredictably, based upon overall market
and economic conditions, as well as a number of reasons that directly relate to the issuers of the Fund’s investments, such as management performance,
financial condition and demand for the issuers’ goods and services. 
Large Investor Risk:
Ownership of shares of the Fund may be concentrated in one or a few large investors. Such investors may redeem shares in large
quantities or on a frequent basis. Redemptions by a large investor can affect the performance of the Fund, may increase realized capital gains, including
short-term capital gains taxable as ordinary income, may accelerate the realization of taxable income to shareholders and may increase transaction costs.
These transactions potentially limit the use of any capital loss carryforwards and certain other losses to offset future realized capital gains (if any). Such
transactions may also increase the Fund’s expenses.
Leverage Risk:
Leverage is the risk associated with securities or investment practices (e.g., borrowing and use of certain derivatives) that multiply small
index, market or asset-price movements into larger changes in value. The use of leverage increases the impact of gains and losses on the Fund’s returns, and
may lead to significant losses if investments are not successful.
Liquidity Risk:
  Liquidity risk is the risk that the Fund may be unable to find a buyer for its investments when it seeks to sell them or to receive the price it
expects. Decreases in the number of financial institutions willing to make markets in the Fund’s investments or in their capacity or willingness to transact may
increase the Fund’s exposure to this risk. Events that may lead to increased redemptions, such as market disruptions or increases in interest rates, may also
negatively impact the liquidity of the Fund’s investments when it needs to dispose of them. If the Fund is forced to sell its investments at an unfavorable time
and/or under adverse conditions in order to meet redemption requests, such sales could negatively affect the Fund. Securities acquired in a private
placement, such as Rule 144A securities, are generally subject to significant liquidity risk because they are subject to strict restrictions on resale and there
may be no liquid secondary market or ready purchaser for such securities.
 Liquidity issues may also make it difficult to value the Fund’s investments.
Collateralized Loan Obligation (“CLO”) Risk:
Investments in CLOs involve risks in addition to the risks associated with investments in debt obligations
and other fixed-income securities such as credit risk, interest rate risk, liquidity risk and market/issuer risk. The degree of such risk will generally correspond
to the type of underlying assets and the specific tranche in which the Fund is invested. A CLO’s performance is linked to the expertise of the CLO manager and
its ability to manage the CLO’s portfolio. Changes in the regulation of CLOs may adversely affect the value of the CLO investments held by the Fund. The
tranche of the CLO held by the Fund may be subordinate to other classes of the CLO’s debt. CLO debt is payable solely from the proceeds of the CLO’s
underlying assets and, therefore, if the income from the underlying loans is insufficient to make payments on one or more tranches of the CLO’s debt, no other
assets will be available for payment. CLO debt securities may be subject to redemption and the timing of redemptions may adversely affect the returns on
CLO debt. The CLO manager may not find suitable assets in which to invest and the CLO manager’s opportunities to invest may be limited.
Convertible Securities Risk:
 Convertible securities have investment characteristics of both equity and debt securities. Investments in convertible securities
are subject to the usual risks associated with debt instruments, such as interest rate risk and credit risk. Convertible securities also react to changes in the
value of the common stock into which they convert, and are thus subject to many of the same risks as investing in common stock. The Fund may also be
forced to convert a convertible security at an inopportune time, which may decrease the Fund’s return.

 
10
 

Fund Summary
 

 
Cybersecurity and Technology Risk:
The Fund, its service providers, and other market participants increasingly depend on complex information
technology and communications systems, which are subject to a number of different threats and risks that could adversely affect the Fund and its
shareholders. Cybersecurity and other operational and technology issues may result in financial losses to the Fund and its shareholders.
Derivatives Risk:
Derivative instruments (such as those in which the Fund may invest, including swap transactions (including credit default swaps)) are
subject to changes in the value of the underlying assets or indices on which such instruments are based. There is no guarantee that the use of derivatives will
be effective or that suitable transactions will be available. Even a small investment in derivatives may give rise to leverage risk and can have a significant
impact on the Fund’s exposure to securities market values, interest rates or currency exchange rates. It is possible that the Fund’s liquid assets may be
insufficient to support its obligations under its derivatives positions. The use of derivatives for other than hedging purposes may be considered a speculative
activity, and involves greater risks than are involved in hedging. The use of derivatives may cause the Fund to incur losses greater than those that would have
occurred had derivatives not been used. The Fund’s use of derivatives, such as
forward currency contracts and swap transactions (including credit default
swaps)) involves other risks, such as the credit/counterparty risk relating to the other party to a derivative contract (which is greater for forward currency
contracts, uncleared swaps and other OTC derivatives), the risk of difficulties in pricing and valuation, the risk that changes in the value of a derivative may
not correlate as expected with changes in the value of relevant assets, rates or indices, liquidity risk, allocation risk and the risk of losing more than the initial
margin (if any) required to initiate derivative positions. There is also the risk that the Fund may be unable to terminate or sell a derivatives position at an
advantageous time or price. The Fund’s derivative counterparties may experience financial difficulties or otherwise be unwilling or unable to honor their
obligations, possibly resulting in losses to the Fund. 
Emerging Markets Risk:
In addition to the risks of investing in foreign investments generally, emerging markets investments are subject to greater risks
arising from political or economic instability, nationalization or confiscatory taxation, currency exchange restrictions, sanctions by other countries (such as the
United States) and an issuer’s unwillingness or inability to make principal or interest payments on its obligations. Emerging markets companies may be
smaller and have shorter operating histories than companies in developed markets.
Foreign Securities Risk:
Investments in foreign securities may be subject to greater political, economic, environmental, credit/counterparty
and information
risks. Foreign securities may be subject to higher volatility than U.S. securities, varying degrees of regulation and limited liquidity.
LIBOR Risk:
LIBOR risk is the risk that the transition away from the London Interbank Offered Rate (“LIBOR”) may lead to increased volatility and illiquidity in
markets that are tied to LIBOR. LIBOR is a benchmark interest rate that is used extensively as a “reference rate” for financial instruments, including many
corporate and municipal bonds, bank loans, asset-backed and mortgage-related securities, interest rate swaps and other derivatives. Additionally, the Fund
may borrow money at rates that are based on LIBOR. In July 2017, the head of the United Kingdom Financial Conduct Authority, the agency that oversees
LIBOR, announced that after 2021 it will cease its active encouragement of banks to provide the quotations needed to sustain LIBOR. That announcement
suggests that LIBOR may cease to be published after that time. The transition away from LIBOR poses a number of other risks, including changed values of
LIBOR-related investments and reduced effectiveness of hedging strategies, each of which may adversely affect the Fund’s performance.
Management Risk:
A strategy used by the Fund’s 
portfolio managers may fail to produce the intended result.
 
Prepayment and Extension Risk:
Prepayment and extension risk is the risk that a bond or other security or investment might, in the case of prepayment
risk, be called or otherwise converted, prepaid or redeemed before maturity and, in the case of extension risk, that the investment might not be called as
expected. In the case of prepayment risk, if the investment is converted, prepaid or redeemed before maturity, the portfolio managers may not be able to
invest the proceeds in other investments providing as high a level of income, resulting in a reduced yield to the Fund.
U.S. Government Securities Risk:
Investments in certain U.S. government securities may not be supported by the full faith and credit of the U.S.
government. Accordingly, no assurance can be given that the U.S. government will provide financial support to U.S. government agencies, instrumentalities or
sponsored enterprises if it is not obligated to do so by law. The maximum potential liability of the issuers of some U.S. government securities held by the Fund
may greatly exceed their current resources, and it is possible that these issuers will not have the funds to meet their payment obligations in the future. In
such a case, the Fund would have to look principally to the agency, instrumentality or sponsored enterprise issuing or guaranteeing the security for ultimate
repayment, and the Fund may not be able to assert a claim against the U.S. government itself in the event the agency, instrumentality or sponsored enterprise
does not meet its commitment. Concerns about the capacity of the U.S. government to meet its obligations may raise the interest rates payable on its
securities, negatively impacting the price of such securities already held by the Fund.
Risk/Return Bar Chart and Table
Because the Fund has not yet completed a full calendar year, information related to Fund performance, including a bar chart showing annual returns, has not been included in this Prospectus.
The performance information provided by the Fund in the future will give some indication of the risks of an investment in the
Fund by showing changes in the Fund’s performance from year to year and by showing how the Fund’s average annual returns compare against those of a broad measure of market performance.
The Fund’s past performance (before and after taxes) does not necessarily indicate how the Fund will perform in the
future.
Updated performance information is available online at im.natixis.com and/or by calling the Fund toll-free at 800-225-5478.
Management
Investment Adviser
Loomis, Sayles & Company, L.P. 

 
11
 

Fund Summary
 

 
Portfolio Managers
Matthew J. Eagan, CFA
®
, Executive Vice President and Director of the Adviser, has served as co-portfolio manager of the Fund since 2020.
Brian P. Kennedy, Vice President of the Adviser, has served as co-portfolio manager of the Fund since 2020.
Elaine M. Stokes, Executive Vice President and Director of the Adviser, has served as co-portfolio manager of the Fund since 2020.
Purchase and Sale of Fund Shares
Class A and C Shares
The following chart shows the investment minimums for various types of accounts:
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
There is no initial or subsequent investment minimum for:
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.
The minimum investment requirements for Class A shares may be waived or lowered for investments effected through certain financial intermediaries that have entered into special arrangements with Natixis Distribution, L.P. (the “Distributor”). Consult your financial intermediary for additional information regarding the minimum investment requirement applicable to your investment.
Class N Shares
Class N shares of the Fund are subject to a $1,000,000 initial investment minimum. This minimum applies to Fee Based Programs and accounts (such as wrap
accounts) where an advisory fee is paid to the broker-dealer or other financial intermediary, accounts established via a transfer, or any other transaction in
which a new account is established. There is no subsequent investment minimum for these shares. There is no initial investment minimum for:
 
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.
 
In its sole discretion, the Distributor may waive the investment minimum requirement for accounts as to which the Distributor reasonably believes will have
enough assets to exceed the investment minimum requirement within a relatively short period of time following the establishment date of such accounts in
Class N. If, after two years, an account’s value does not exceed the investment minimum requirement, the Distributor and the Fund reserve the right to
redeem such account.
Class Y Shares
Class Y shares of the Fund are generally subject to a minimum initial investment of $100,000 and a minimum subsequent investment of $50, except there is
no minimum initial or subsequent investment for:
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.

 
12
 

Fund Summary
 

 
At the discretion of Natixis Advisors, L.P., clients of Natixis Advisors, L.P. and its affiliates may purchase Class Y shares of the Fund below the stated
minimums.
Due to operational limitations at your financial intermediary, certain fee based programs, retirement plans, individual retirement accounts and accounts of
registered investment advisers may be subject to the investment minimums described above.


The Fund’s shares are available for purchase and are redeemable on any business day through your investment dealer, directly from the Fund by writing to the
Fund at Natixis Funds, P.O. Box 219579, Kansas City, MO 64121-9579, by exchange, by wire, by internet at im.natixis.com (certain restrictions may apply),
through the Automated Clearing House system, or, in the case of redemptions, by telephone at 800-225-5478 or by the Systematic Withdrawal Plan. 
Tax Information
Fund distributions are generally taxable to you as ordinary income or capital gains, except for distributions to retirement plans and other investors that qualify
for tax-advantaged treatment under U.S. federal income tax law generally. Investments in such tax-advantaged plans will generally be taxed only upon
withdrawal of monies from the tax-advantaged arrangement.
Payments to Broker-Dealers and Other Financial Intermediaries
If you purchase shares of the Fund through a broker-dealer or other financial intermediary (such as a bank), the Fund and its related companies may pay the
intermediary for the sale of the Fund shares and related services. These payments may create a conflict of interest by influencing the broker-dealer or other
intermediary and your salesperson to recommend the Fund over another investment. Ask your salesperson or visit your financial intermediary’s website for
more information.

 
13
 

Fund Summary
 

 
Loomis Sayles Global Allocation Fund
Investment Goal
The Fund’s investment goal is high total investment return through a combination of capital appreciation and current income.
Fund Fees & Expenses
The following table describes the fees and expenses that you may pay if you buy, hold, and sell shares of the Fund. You may pay other fees, such as
brokerage commissions and other fees to financial intermediaries, which are not reflected in this table. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in the Natixis Funds Complex.
More information about these and other discounts is
available from your financial professional and in the section “How Sales Charges Are Calculated” on page
62 of the Prospectus
, in Appendix A to the
Prospectus and on page 
120 in the section “Reduced Sales Charges” of the Statement of Additional Information (“SAI”).
Shareholder Fees
(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.
Annual Fund Operating Expenses
(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
0.74%
0.74%
0.74%
0.74%
0.74%
Distribution and/or service (12b-1) fees
0.25%
1.00%
0.00%
0.25%
0.00%
Other expenses
0.16%
0.16%
0.08%
0.16%
1
0.16%
Total annual fund operating expenses
1.15%
1.90%
0.82%
1.15%
0.90%
Fee waiver and/or expense reimbursement
2
0.00%
0.00%
0.00%
0.00%
0.00%
Total annual fund operating expenses after fee waiver and/or expense reimbursement
1.15%
1.90%
0.82%
1.15%
0.90%
1
Other expenses for Class T shares are estimated for the current fiscal year.
2
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 1.25%, 2.00%, 0.95%, 1.25% and 1.00% 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 January 31, 2022 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 the applicable expense
limitations for Class A, C, N, T and Y shares. 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.

 
14
 

Fund Summary
 

 
Example
This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that
you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods (except where indicated). The
example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. The example does not take
into account brokerage commissions and other fees to financial intermediaries that you may pay on your purchases and sales of shares of the Fund. Although
your actual costs may be higher or lower, based on these assumptions your costs would be:
If shares are redeemed:
1 year
3 years
5 years
10 years
Class A
$
685
$
919
$
1,172
$
1,892
Class C
$
293
$
597
$
1,026
$
2,222
Class N
$
84
$
262
$
455
$
1,014
Class T
$
364
$
606
$
867
$
1,613
Class Y
$
92
$
287
$
498
$
1,108
If shares are not redeemed:
1 year
3 years
5 years
10 years
Class C
$
193
$
597
$
1,026
$
2,222
Portfolio Turnover
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may
indicate higher transaction costs and may result in higher taxes for you if your Fund shares are held in a taxable account. These costs, which are not reflected
in annual fund operating expenses or in the example, affect the Fund’s performance. During its most recently ended fiscal year, the Fund’s portfolio turnover
rate was
37% of the average value of its portfolio.
Investments, Risks and Performance
Principal Investment Strategies
Under normal market conditions, the Fund will invest at least 80% of its net assets (plus any borrowings made for investment purposes) in equity and fixed-
income securities of U.S. and foreign issuers. Equity securities purchased by the Fund may include common stocks, preferred stocks, depositary receipts,
warrants, securities convertible into common or preferred stocks, interests in real estate investment trusts (“REITs”) and/or real estate-related securities and
other equity-like interests in an issuer. Fixed-income securities purchased by the Fund may include bonds and other debt obligation of U.S. and foreign
issuers, including but not limited to corporations, governments and supranational entities. The Fund will invest a significant portion of its assets outside the
U.S., including securities of issuers located in emerging market countries. 
The portfolio managers reallocate the Fund’s assets between equity and fixed income securities based on their assessment of current market conditions and
the relative opportunities within each asset class, among other factors. In deciding which equity securities to buy and sell, the Adviser generally looks to
purchase quality companies at attractive valuations with the potential to grow intrinsic value over time. The Adviser uses discounted cash flow analysis,
among other methods of analysis, to determine a company’s intrinsic value. In deciding which fixed-income securities to buy and sell, the Adviser generally
looks for securities that it believes are undervalued and have the potential for credit upgrades, which may include securities that are below investment grade
(also known as “junk bonds”).
The Fund may also invest in foreign currencies, collateralized mortgage obligations, collateralized loan obligations, zero-coupon securities, when-issued
securities, REITs, securities issued pursuant to Rule 144A under the Securities Act of 1933 (“Rule 144A securities”), mortgage-related securities, convertible
securities and structured notes. The Fund may also engage in active and frequent trading of securities and engage in options or foreign currency transactions
(such as forward currency contracts) for hedging and investment purposes and futures transactions and swap transactions (including credit default swaps).
Frequent trading may produce high transaction costs and a high level of taxable capital gains, including short-term capital gains taxable as ordinary income,
which may lower the Fund’s return. The Adviser may hedge currency risk for the Fund (including “cross hedging” between two or more foreign currencies) if it
believes the outlook for a particular foreign currency is unfavorable. Except as provided above or as required by applicable law, the Fund is not limited in the
percentage of its assets that it may invest in these instruments.
Principal Investment Risks
The principal risks of investing in the Fund are summarized below. The Fund does not represent a complete investment program. You may lose money
by investing in the Fund. 
 
The significance of any specific risk to an investment in the Fund will vary over time, depending on the composition of the Fund’s portfolio, market conditions,
and other factors. You should read all of the risk information presented below carefully, because any one or more of these risks may result in losses to the
Fund.

 
15
 
 

Fund Summary
 

 
Equity Securities Risk:
The value of the Fund’s investments in equity securities could be subject to unpredictable declines in the value of individual
securities and periods of below-average performance in individual securities or in the equity market as a whole. Growth stocks are generally more sensitive
to market movements than other types of stocks primarily because their stock prices are based heavily on future expectations. If the Adviser’s assessment of
the prospects for a company’s growth is wrong, or if the Adviser’s judgment of how other investors will value the company’s growth is wrong, then the price
of the company’s stock may fall or not approach the value that the Adviser has placed on it. Value stocks also present the risk that their lower valuations fairly
reflect their business prospects and that investors will not agree that the stocks represent favorable investment opportunities, and they may fall out of favor
with investors and under-perform growth stocks during any given period. In the event an issuer is liquidated or declares bankruptcy, the claims of owners of
the issuer’s bonds generally take precedence over the claims of those who own preferred stock or common stock.
Below Investment Grade Fixed-Income Securities Risk:
The Fund’s investments in below investment grade fixed-income securities, also known as
“junk bonds,” may be subject to greater risks than other fixed-income securities, including being subject to greater levels of interest rate risk,
credit/counterparty risk (including a greater risk of default) and liquidity risk. The ability of the issuer to make principal and interest payments is predominantly
speculative for below investment grade fixed-income securities.
Foreign Securities Risk:
Investments in foreign securities may be subject to greater political, economic, environmental, credit/counterparty
and information
risks. The Fund’s investments in foreign securities also are subject to foreign currency fluctuations and other foreign currency-related risks. Foreign securities
may be subject to higher volatility than U.S. securities, varying degrees of regulation and limited liquidity.
Credit/Counterparty Risk:
Credit/counterparty risk is the risk that the issuer or guarantor of a fixed-income security, or the counterparty to a derivative or
other transaction, will be unable or unwilling to make timely payments of interest or principal or to otherwise honor its obligations. As a result, the Fund may
sustain losses or be unable or delayed in its ability to realize gains. The Fund will be subject to credit/counterparty risks with respect to the counterparties to
its derivatives transactions. This risk will be heightened to the extent the Fund enters into derivative transactions with a single counterparty (or affiliated
counterparties that are part of the same organization), causing the Fund to have significant exposure to such counterparty. Many of the protections afforded
to participants on organized exchanges and clearing houses, such as the performance guarantee given by a central clearing house, are not available in
connection with over-the-counter (“OTC”) derivatives transactions, such as foreign currency transactions. For centrally cleared derivat
iv
es, such as cleared
swaps, futures and many options, the primary credit/counterparty risk is the creditworthiness of the Fund’s clearing broker and the central clearing house
itself. 
Market/Issuer Risk:
The market value of the Fund’s investments will move up and down, sometimes rapidly and unpredictably, based upon overall market
and economic conditions, as well as a number of reasons that directly relate to the issuers of the Fund’s investments, such as management performance,
financial condition and demand for the issuers’ goods and services. 
Allocation Risk: 
The Fund’s allocations between asset classes and market exposures may not be optimal in every market condition and may adversely
affect the Fund’s performance.
Currency Risk:
Fluctuations in the exchange rates between different currencies may negatively affect an investment. The Fund may be subject to
currency risk because it may invest in currency-related instruments and may invest in securities or other instruments denominated in, or that generate
income denominated in, foreign currencies. The Fund may elect not to hedge currency risk, or may hedge such risk imperfectly, which may cause the Fund to
incur losses that would not have been incurred had the risk been hedged.
Cybersecurity and Technology Risk:
The Fund, its service providers, and other market participants increasingly depend on complex information
technology and communications systems, which are subject to a number of different threats and risks that could adversely affect the Fund and its
shareholders. Cybersecurity and other operational and technology issues may result in financial losses to the Fund and its shareholders.
Derivatives Risk:
Derivative instruments (such as those in which the Fund may invest, including options, forward currency contracts, futures transactions,
structured notes and swap transactions (including credit default swaps)) are subject to changes in the value of the underlying assets or indices on which such
instruments are based. There is no guarantee that the use of derivatives will be effective or that suitable transactions will be available. Even a small
investment in derivatives may give rise to leverage risk and can have a significant impact on the Fund’s exposure to securities markets values, interest rates
or currency exchange rates. It is possible that the Fund’s liquid assets may be insufficient to support its obligations under its derivatives positions. The use of
derivatives for other than hedging purposes may be considered a speculative activity, and involves greater risks than are involved in hedging. The use of
derivatives may cause the Fund to incur losses greater than those that would have occurred had derivatives not been used. The Fund’s use of derivatives,
such as
options, forward currency contracts, futures transactions, structured notes and swap transactions (including credit default swaps) involves other risks,
such as the credit risk relating to the other party to a derivative contract (which is greater for forward currency contracts, uncleared swaps and other OTC
derivatives) the risk of difficulties in pricing and valuation, the risk that changes in the value of a derivative may not correlate as expected with changes in the
value of relevant assets, rates or indices; liquidity risk; allocation risk and the risk of losing more than the initial margin (if any) required to initiate derivatives
positions. There is also the risk that the Fund may be unable to terminate or sell a derivative position at an advantageous time or price. The Fund’s derivative
counterparties may experience financial difficulties or otherwise be unwilling or unable to honor their obligations, possibly resulting in losses to the Fund. 
Emerging Markets Risk:
In addition to the risks of investing in foreign investments generally, emerging markets investments are subject to greater risks
arising from political or economic instability, nationalization or confiscatory taxation, currency exchange restrictions, sanctions by other countries (such as the
United States) and an issuer’s unwillingness or inability to make principal or interest payments on its obligations. Emerging markets companies may be
smaller and have shorter operating histories than companies in developed markets.

 
16
 

Fund Summary
 

 
Interest Rate Risk:
Interest rate risk is the risk that the value of the Fund’s investments will fall if interest rates rise.
 Generally, the value of fixed-income
securities rises when prevailing interest rates fall and falls when interest rates rise.  Interest rate risk generally is greater for funds that invest in fixed-income
securities with relatively longer durations than for funds that invest in fixed-income securities with shorter durations. 
The values of zero-coupon securities
and securities with longer maturities are generally more sensitive to fluctuations in interest rates than other fixed-income securities. In addition, an economic
downturn or period of rising interest rates could adversely affect the market for these securities and reduce the Fund’s ability to sell them, negatively
impacting the performance of the Fund. Potential future changes in government monetary policy may affect the level of interest rates. 
Large Investor Risk:
Ownership of shares of the Fund may be concentrated in one or a few large investors. Such investors may redeem shares in large
quantities or on a frequent basis. Redemptions by a large investor can affect the performance of the Fund, may increase realized capital gains, including
short-term capital gains taxable as ordinary income, may accelerate the realization of taxable income to shareholders and may increase transaction costs.
These transactions potentially limit the use of any capital loss carryforwards and certain other losses to offset future realized capital gains (if any). Such
transactions may also increase the Fund’s expenses.
Leverage Risk:
Leverage is the risk associated with securities or investment practices (e.g., borrowing and use of certain derivatives) that multiply small
index, market or asset-price movements into larger changes in value. The use of leverage increases the impact of gains and losses on the Fund’s returns, and
may lead to significant losses if investments are not successful.
Liquidity Risk:
  Liquidity risk is the risk that the Fund may be unable to find a buyer for its investments when it seeks to sell them or to receive the price it
expects. Decreases in the number of financial institutions willing to make markets in the Fund’s investments or in their capacity or willingness to transact may
increase the Fund’s exposure to this risk. Events that may lead to increased redemptions, such as market disruptions or increases in interest rates, may also
negatively impact the liquidity of the Fund’s investments when it needs to dispose of them. If the Fund is forced to sell its investments at an unfavorable time
and/or under adverse conditions in order to meet redemption requests, such sales could negatively affect the Fund. Securities acquired in a private
placement, such as Rule 144A securities, are generally subject to significant liquidity risk because they are subject to strict restrictions on resale and there
may be no liquid secondary market or ready purchaser for such securities.
Derivatives, and particularly OTC derivatives, are generally subject to liquidity risk
as well. Liquidity issues may also make it difficult to value the Fund’s investments.
Management Risk:
A strategy used by the Fund’s 
portfolio managers may fail to produce the intended result.
 
Mortgage-Related Securities Risk:
In addition to the risks associated with investments in fixed-income securities generally (for example, credit, liquidity
and valuation risk), mortgage-related securities are subject to the risks of the mortgages underlying the securities as well as prepayment risk, the risk that the
securities may be prepaid and result in the reinvestment of the prepaid amounts in securities with lower yields than the prepaid obligations. Conversely, there
is a risk that a rise in interest rates will extend the life of a mortgage-related security beyond the expected prepayment time, typically reducing the security’s
value. The Fund also may incur a loss when there is a prepayment of securities that were purchased at a premium. The Fund’s investments in other asset-
backed securities are subject to risks similar to those associated with mortgage-related securities, as well as additional risks associated with the nature of
the assets and the servicing of those assets.
REITs Risk:
 
Investments in the real estate industry, including REITs, are particularly sensitive to economic downturns and are sensitive to factors such as
changes in real estate values, property taxes and tax laws, interest rates, cash flow of underlying real estate assets, occupancy rates, government regulations
affecting zoning, land use and rents and the management skill and creditworthiness of the issuer. Companies in the real estate industry also may be subject
to liabilities under environmental and hazardous waste laws. In addition, the value of a REIT is affected by changes in the value of the properties owned by
the REIT or mortgage loans held by the REIT. REITs are also subject to default and prepayment risk. Many REITs are highly leveraged, increasing their risk. The
Fund will indirectly bear its proportionate share of expenses, including management fees, paid by each REIT in which it invests in addition to the expenses of
the Fund.
Risk/Return Bar Chart and Table
The bar chart and table shown below provide some indication of the risks of investing in the Fund by showing changes in the Fund’s performance from year-
to-year and by showing how the Fund’s average annual returns for the one-year, five-year, ten-year and life-of-class periods (as applicable) compare to those of two broad measures of market performance.
The Blended Index is an unmanaged, blended index composed of the following weights: 60% MSCI All
Country World Index (Net) and 40% Bloomberg Barclays Global Aggregate Bond Index. The two indices composing the Blended Index measure, respectively,
the performance of global equity securities and global investment grade fixed income securities. The Fund’s past performance (before and after taxes) does not necessarily indicate how the Fund will perform in the future.
Updated performance information is available online at im.natixis.com and/or by calling the
Fund toll-free at 800-225-5478.
The chart does not reflect any sales charge that you may be required to pay when you buy or redeem the Fund’s shares. A sales charge will reduce your
return.

 
17
 

Fund Summary
 

 
Total Returns for Class Y Shares
g1pr3801img001.jpg
Highest Quarterly Return:
Second Quarter 2020,
16.50
%


Lowest Quarterly Return:
Third Quarter 2011,
-14.72
%
Average Annual Total Returns
(for the periods ended December 31, 2020)
Past 1 Year
Past 5 Years
Past 10 Years
Life of Class N

(2/1/17)
Class Y - Return Before Taxes
15.38%
12.17%
9.56%
-
Return After Taxes on Distributions
13.74%
11.24%
8.59%
-
Return After Taxes on Distributions and Sale of Fund Shares
10.22%
9.58%
7.57%
-
Class A - Return Before Taxes
8.45%
10.55%
8.64%
-
Class C - Return Before Taxes
13.19%
11.05%
8.47%
-
Class N - Return Before Taxes
15.42%
-
-
13.63%
Class T - Return Before Taxes
12.18%
11.31%
9.00%
-
MSCI All Country World Index (Net)
16.25%
12.26%
9.13%
12.84%
Blended Index
14.05%
9.48%
6.79%
10.10%
The Fund did not have Class T shares outstanding during the periods shown above. The returns of Class T shares would have been substantially similar to the
returns of the Fund’s other share classes because they would have been invested in the same portfolio of securities and would only differ to the extent the
other share classes did not have the same expenses. Performance of Class T shares shown above is that of Class A shares, which have the same expenses as
Class T shares, restated to reflect the different sales load applicable to Class T shares.
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who
hold their shares through tax-advantaged arrangements, such as 401(k) plans, qualified plans, education savings accounts, such as 529 plans, or individual retirement accounts.
 The after-tax returns are shown for only one class of the Fund. After-tax returns for the other classes of the Fund will vary. Index
performance reflects no deduction for fees, expenses or taxes
.
Management
Investment Adviser
Loomis, Sayles & Company, L.P. 
Portfolio Managers
Daniel J. Fuss*, CFA
®
, CIC, Vice Chairman, Director and Managing Partner of the Adviser, has served as portfolio manager of the domestic fixed-
income securities sector of the Fund since 1996.
Eileen N. Riley, CFA
®
, Vice President of the Adviser, has served as portfolio manager of the global equity sector of the Fund since 2013.
David W. Rolley, CFA
®
, Vice President of the Adviser, has served as portfolio manager of the international fixed-income securities sector of the Fund since
2000.
Lee M. Rosenbaum, Vice President of the Adviser, has served as portfolio manager of the global equity sector of the Fund since 2013.
*Effective March 1, 2021, Daniel J. Fuss will no longer serve as a portfolio manager of the Fund and Matthew J. Eagan will join the portfolio management
team of the Fund.

 
18
 

Fund Summary
 

 
Purchase and Sale of Fund Shares
Class A and C Shares
The following chart shows the investment minimums for various types of accounts:
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
There is no initial or subsequent investment minimum for:
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.
The minimum investment requirements for Class A may be waived or lowered for investments effected through certain financial intermediaries that have entered into special arrangements with Natixis Distribution, L.P. (the “Distributor”). Consult your financial intermediary for additional information regarding the minimum investment requirement applicable to your investment.
Class N Shares
Class N shares of the Fund are subject to a $1,000,000 initial investment minimum. This minimum applies to Fee Based Programs and accounts (such as wrap
accounts) where an advisory fee is paid to the broker-dealer or other financial intermediary, accounts established via a transfer, or any other transaction in
which a new account is established. There is no subsequent investment minimum for these shares. There is no initial investment minimum for:
 
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.
 
In its sole discretion, the Distributor may waive the investment minimum requirement for accounts as to which the Distributor reasonably believes will have
enough assets to exceed the investment minimum requirement within a relatively short period of time following the establishment date of such accounts in
Class N. If, after two years, an account’s value does not exceed the investment minimum requirement, the Distributor and the Fund reserve the right to
redeem such account.
Class T Shares
Class T shares of the Fund are not currently available for purchase.
Class T shares of the Fund may only be purchased by investors who are investing through an authorized third party, such as a broker-dealer or other financial
intermediary, that has entered into a selling agreement with Natixis Distribution, L.P. Investors may not hold Class T shares directly with the Fund. Class T
shares are subject to a minimum initial investment of $2,500 and a minimum subsequent investment of $50.  Not all financial intermediaries make Class T
shares available to their clients.
Class Y Shares
Class Y shares of the Fund are generally subject to a minimum initial investment of $100,000 and a minimum subsequent investment of $50, except there is
no minimum initial or subsequent investment for:
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.

 
19
 

Fund Summary
 

 
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.
At the discretion of Natixis Advisors, L.P., clients of Natixis Advisors, L.P. and its affiliates may purchase Class Y shares of the Fund below the stated
minimums.
Due to operational limitations at your financial intermediary, certain fee based programs, retirement plans, individual retirement accounts and accounts of
registered investment advisers may be subject to the investment minimums described above.


The Fund’s shares are available for purchase and are redeemable on any business day through your investment dealer, directly from the Fund by writing to the
Fund at Natixis Funds, P.O. Box 219579, Kansas City, MO 64121-9579, by exchange, by wire, by internet at im.natixis.com (certain restrictions may apply),
through the Automated Clearing House system, or, in the case of redemptions, by telephone at 800-225-5478 or by the Systematic Withdrawal Plan. 
Tax Information
Fund distributions are generally taxable to you as ordinary income or capital gains, except for distributions to retirement plans and other investors that qualify
for tax-advantaged treatment under U.S. federal income tax law generally. Investments in such tax-advantaged plans will generally be taxed only upon
withdrawal of monies from the tax-advantaged arrangement.
Payments to Broker-Dealers and Other Financial Intermediaries
If you purchase shares of the Fund through a broker-dealer or other financial intermediary (such as a bank), the Fund and its related companies may pay the
intermediary for the sale of the Fund shares and related services. These payments may create a conflict of interest by influencing the broker-dealer or other
intermediary and your salesperson to recommend the Fund over another investment. Ask your salesperson or visit your financial intermediary’s website for
more information.

 
20
 
 

Fund Summary
 

 
Loomis Sayles Growth Fund
Investment Goal
The Fund’s investment goal is long-term growth of capital.
Fund Fees & Expenses
The following table describes the fees and expenses that you may pay if you buy, hold, and sell shares of the Fund. You may pay other fees, such as
brokerage commissions and other fees to financial intermediaries, which are not reflected in this table. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in the Natixis Funds Complex.
More information about these and other discounts is
available from your financial professional and in the section “How Sales Charges Are Calculated” on page
62 of the Prospectus
, in Appendix A to the
Prospectus and on page 
120 in the section “Reduced Sales Charges” of the Statement of Additional Information (“SAI”).
Shareholder Fees
(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.
Annual Fund Operating Expenses
(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
0.50%
0.50%
0.50%
0.50%
0.50%
Distribution and/or service (12b-1) fees
0.25%
1.00%
0.00%
0.25%
0.00%
Other expenses
0.15%
0.15%
0.07%
0.15%
1
0.15%
Total annual fund operating expenses
0.90%
1.65%
0.57%
0.90%
0.65%
Fee waiver and/or expense reimbursement
2
0.00%
0.00%
0.00%
0.00%
0.00%
Total annual fund operating expenses after fee waiver and/or expense reimbursement
0.90%
1.65%
0.57%
0.90%
0.65%
1
Other expenses for Class T shares are estimated for the current fiscal year.
2
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 1.25%, 2.00%, 0.95%, 1.25% and 1.00% 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 January 31, 2022 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 the applicable expense
limitations for Class A, C, N, T and Y shares. 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.
Example
This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that
you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods (except where indicated). The
example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. The example does not take
into account brokerage commissions and other fees to financial intermediaries that you may pay on your purchases and sales of shares of the Fund. Although
your actual costs may be higher or lower, based on these assumptions your costs would be:

 
21
 

Fund Summary
 

 
If shares are redeemed:
1 year
3 years
5 years
10 years
Class A
$
662