IXIS ADVISOR EQUITY FUNDS

Supplement dated May 1, 2006 to the Classes A, B and C Prospectus, dated May 1,
           2006, as may be revised or supplemented from time to time

Effective May 1, 2006 through May 31, 2006, the sub-section "Minimum Balance
Policy" within the section "It's Easy to Open an Account," is amended as
follows:

Each Fund, on an annual basis, may deduct a minimum balance fee of $20 for
accounts that fall below the minimum amount required to establish an account, as
described above. The minimum balance fee is assessed by the automatic redemption
of shares in the account in an amount sufficient to pay the fee. The valuation
of account balances and the deduction of the fee generally occurs during the
third week in September of each calendar year, although they may occur at
another date in the year. The fee will not be deducted from Fund positions
opened after June 30th of the calendar year in which the fee is assessed.
Certain accounts, such as accounts that fall below the minimum as a result of
the automatic conversion from Class B shares to Class A shares and accounts
using the IXIS Advisor Funds' prototype document (including IRAs, Keogh plans,
403(b)(7) plans and Coverdell Education Savings Accounts), are excepted from the
minimum balance fee.

In its discretion, each Fund may also close an account and send the account
holder the proceeds if the account falls below the minimum amount required to
establish an account. It is expected that accounts maintained by intermediaries
through the National Securities Clearing Corporation ("NSCC") may be liquidated
rather than assessed a fee, if the account balance falls below such minimum. The
valuation of account balances and the liquidation itself generally occur during
October of each calendar year, although they may occur at another date in the
year. Any account opened after June 30th of a calendar year will not be subject
to the liquidation for that calendar year.

Effective May 1, 2006 through May 31, 2006, the third paragraph in the
sub-section "Redemption Fees" within the section "Restrictions on Buying,
Selling and Exchanging Fund Shares," is amended as follows:


The Funds currently do not impose a redemption fee on a redemption of:
    |X|   shares acquired by reinvestment of dividends or distributions of a
          Fund; or
    |X|   shares held in an account of certain retirement plans or profit
          sharing plans or purchased through certain intermediaries; or
    |X|   shares redeemed as part of a systematic withdrawal plan.



                                                                      SP297-0506





                            IXIS ADVISOR EQUITY FUNDS

 Supplement dated May 1, 2006 to the Class Y Prospectus, dated May 1, 2006, as
                may be revised or supplemented from time to time

Effective May 1, 2006 through May 31, 2006, the third paragraph in the
sub-section "Redemption Fees" within the section "Restrictions on Buying,
Selling and Exchanging Fund Shares," is amended as follows:


The Funds currently do not impose a redemption fee on a redemption of:
    |X|   shares acquired by reinvestment of dividends or distributions of a
          Fund; or
    |X|   shares held in an account of certain retirement plans or profit
          sharing plans or purchased through certain intermediaries; or
    |X|   shares redeemed as part of a systematic withdrawal plan.



                                                                      SP298-0506