497 1 combined242239243.txt COMBINED FILE CDC IXIS MODERATE DIVERSIFIED PORTFOLIO CDC NVEST CASH MANAGEMENT TRUST - MONEY MARKET SERIES CDC NVEST EQUITY FUNDS CDC NVEST INCOME FUNDS CDC NVEST TAX FREE INCOME FUNDS CDC NVEST STAR FUNDS CDC NVEST FUNDS (THE "FUNDS") Supplement dated September 30, 2004 to CDC Nvest Income Funds Classes A, B, C and Y prospectuses, CDC Nvest Funds Classes A, B, C and Y prospectuses, and CDC Nvest Tax Free Income Funds Classes A and B prospectus, each dated February 1, 2004, CDC Nvest Star Funds Classes A, B and C prospectus, CDC Nvest Equity Funds Classes A, B and C prospectus, and CDC Nvest Equity Funds and CDC Nvest Star Funds Class Y prospectus, each dated May 1, 2004, CDC IXIS Moderate Diversified Portfolio Classes A and C prospectus dated July 14, 2004, and CDC Nvest Cash Management Trust - Money Market Series prospectus dated September 1, 2004, each as may be supplemented from time to time. Effective November 1, 2004, the name of the Distributor for the Funds will change from CDC IXIS Asset Management Distributors, L.P. to IXIS ASSET MANAGEMENT DISTRIBUTORS, L.P. Also effective November 1, 2004 the name of the Adviser or Advisory Administrator will change from CDC IXIS Asset Management Advisers, L.P. to IXIS ASSET MANAGEMENT ADVISORS, L.P for the following funds: CDC IXIS International Equity Fund CDC IXIS Moderate Diversified Portfolio CDC Nvest Cash Management Trust - Money Market Series CDC Nvest Star Advisers Fund CDC Nvest Star Growth Fund CDC Nvest Star Value Fund Hansberger International Fund Harris Associates Large Cap Value Fund Harris Associates Focused Value Fund Loomis Sayles Core Plus Bond Fund Loomis Sayles Government Securities Fund Loomis Sayles Massachusetts Tax Free Income Fund Vaughan Nelson Small Cap Value Fund Westpeak Capital Growth Fund SP242-0904 LOOMIS SAYLES CORE PLUS BOND FUND Supplement dated September 30, 2004 to the CDC Nvest Income Funds Classes A, B, C and Y Prospectuses, each dated February 1, 2004, each as may be supplemented from time to time On August 20, 2004, the Board of Trustees (the "Trustees") of CDC Nvest Funds Trust I approved a change in the investment strategy of the Loomis Sayles Core Plus Bond Fund (the "Fund"). PROSPECTUS CHANGES EFFECTIVE DECEMBER 1, 2004, WITHIN THE SECTION ENTITLED "PRINCIPAL INVESTMENT STRATEGIES" THE FOLLOWING TEXT REPLACES THE FIRST PARAGRAPH WITH RESPECT TO LOOMIS SAYLES CORE PLUS BOND FUND. Under normal market conditions, the Fund will invest primarily in U.S. corporate and U.S. government bonds. It will adjust to changes in the relative strengths of the U.S. corporate or U.S. government bond markets by shifting the relative balance between the two. The Fund will invest at least 80% of its net assets in bond investments. The term "bond investments" includes debt securities of any maturity. In accordance with applicable Securities and Exchange Commission requirements, the Fund will notify shareholders prior to any change to such policy taking effect. In addition, the Fund will normally invest at least 80% of its assets in investment-grade securities (those rated BBB or higher by Standard & Poor's Ratings Group ("S&P"), or Baa or higher by Moody's Investors Service, Inc. ("Moody's") or, if unrated, of comparable quality as determined by Loomis Sayles), including cash and cash equivalent securities and will generally maintain an average effective maturity of ten years or less. The Fund may also invest up to 20% of its assets, at the time of purchase, in bonds (rated below BBB by S&P and below Baa by Moody's, also known as "junk bonds"), or, if unrated, of comparable quality as determined by Loomis Sayles. SP239-0904 CDC NVEST FUNDS TRUST I CDC NVEST FUNDS TRUST II (THE "TRUSTS") Supplement dated September 30, 2004 to the CDC Nvest Income Funds Classes A, B, C and Y Prospectuses, each dated February 1, 2004, each as may be supplemented from time to time ALL FUNDS Effective November 1, 2004, the name of the Distributor for the Trusts will change from CDC IXIS Asset Management Distributors, L.P. to IXIS ASSET MANAGEMENT DISTRIBUTORS, L.P. Also effective November 1, 2004 the name of the Adviser or Advisory Administrator will change from CDC IXIS Asset Management Advisers, L.P. to IXIS ASSET MANAGEMENT ADVISORS, L.P for the following funds: Loomis Sayles Core Plus Bond Fund Loomis Sayles Government Securities Fund *** LOOMIS SAYLES CORE PLUS BOND FUND ONLY In addition to the above change, on August 20, 2004, the Board of Trustees (the "Trustees") of CDC Nvest Funds Trust I approved a change in the investment strategy of the Loomis Sayles Core Plus Bond Fund (the "Fund"). PROSPECTUS CHANGES EFFECTIVE DECEMBER 1, 2004, WITHIN THE SECTION ENTITLED "PRINCIPAL INVESTMENT STRATEGIES" THE FOLLOWING TEXT REPLACES THE FIRST PARAGRAPH WITH RESPECT TO LOOMIS SAYLES CORE PLUS BOND FUND. Under normal market conditions, the Fund will invest primarily in U.S. corporate and U.S. government bonds. It will adjust to changes in the relative strengths of the U.S. corporate or U.S. government bond markets by shifting the relative balance between the two. The Fund will invest at least 80% of its net assets in bond investments. The term "bond investments" includes debt securities of any maturity. In accordance with applicable Securities and Exchange Commission requirements, the Fund will notify shareholders prior to any change to such policy taking effect. In addition, the Fund will normally invest at least 80% of its assets in investment-grade securities (those rated BBB or higher by Standard & Poor's Ratings Group ("S&P"), or Baa or higher by Moody's Investors Service, Inc. ("Moody's") or, if unrated, of comparable quality as determined by Loomis Sayles), including cash and cash equivalent securities and will generally maintain an average effective maturity of ten years or less. The Fund may also invest up to 20% of its assets, at the time of purchase, in bonds (rated below BBB by S&P and below Baa by Moody's, also known as "junk bonds"), or, if unrated, of comparable quality as determined by Loomis Sayles. SP243-0904