Summary Prospectus May 1, 2013, as revised July 15, 2013 |
Before you invest, you may want to review the Fund’s Prospectus, which contains more information about the Fund and its risks. You can find the Fund’s Prospectus and other information about the Fund online at ngam.natixis.com/funddocuments. You can also get this information at no cost by calling 800-225-5478 or by sending an e-mail request to NatixisFunds@ngam.natixis.com. The Fund’s Prospectus and Statement of Additional Information, each dated May 1, 2013 are incorporated by reference into this Summary Prospectus. |
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) | 5.75% | None | None | None |
Maximum deferred sales charge (load) (as a percentage of original purchase price or redemption proceeds, as applicable) | None | 1.00% | None | None |
Redemption fees | None | None | None | None |
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 | 1.15% | 1.15% | 1.15% | 1.15% |
Distribution and/or service (12b-1) fees | 0.25% | 1.00% | 0.00% | 0.00% |
Other expenses |
Fee/expense recovery1 | 0.01% | 0.01% | 0.00% | 0.01% |
Remainder of other expenses | 0.20% | 0.20% | 0.10% | 0.20% |
Total other expenses | 0.21% | 0.21% | 0.10% 2 | 0.21% |
Total annual fund operating expenses | 1.61% | 2.36% | 1.25% | 1.36% |
Fee waiver and/or expense reimbursement1 | 0.00% | 0.00% | 0.00% | 0.00% |
Total annual fund operating expenses after fee waiver and/or expense reimbursement | 1.61% | 2.36% | 1.25% | 1.36% |
1 | AlphaSimplex Group, LLC (“AlphaSimplex” 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 1.60%, 2.35%, 1.30% and 1.35% of the Fund’s average daily net assets for Class A, Class C, Class N and Class Y shares, respectively, exclusive of brokerage expenses, interest expense, taxes, acquired fund fees and expenses, organizational and extraordinary expenses, such as litigation and indemnification expenses. This undertaking is in effect through April 30, 2014 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 1.60%, 2.35%, 1.30% and 1.35% of the Fund’s average daily net assets for Class A, Class C, Class N and Class Y shares, respectively. 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 fee/expense was waived/reimbursed. |
2 | Other expenses for Class N shares are estimated for the current fiscal year. |
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If shares are redeemed: | ||||
1 year | 3 years | 5 years | 10 years | |
Class A | $729 | $1,054 | $1,401 | $2,376 |
Class C | $339 | $736 | $1,260 | $2,696 |
Class N | $127 | $397 | $686 | $1,511 |
Class Y | $138 | $431 | $745 | $1,635 |
If shares are not redeemed: | ||||
1 year | 3 years | 5 years | 10 years | |
Class C | $239 | $736 | $1,260 | $2,696 |
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Highest Quarterly Return: Third Quarter 2010, 7.26% |
Lowest Quarterly Return: Third Quarter 2011, -7.47% |
Average Annual Total Returns (for the periods ended December 31, 2012) |
Past 1 Year | Life of Fund (9/30/08) |
ASG Global Alternatives Fund Class A – Return Before Taxes |
-2.48% | 1.59% |
Return After Taxes on Distributions | -2.48% | 1.16% |
Return After Taxes on Distributions & Sale of Fund Shares | -1.61% | 1.15% |
Class C – Return Before Taxes | 1.69% | 2.25% |
Class N – Return Before Taxes | 3.68% | 3.25% |
Class Y – Return Before Taxes | 3.68% | 3.25% |
Barclay Fund of Funds Index™1 | 4.72% | 0.36% |
HFRI Fund of Funds Composite Index2 | 4.79% | 1.08% |
1 | Effective November 19, 2012 the Barclay Fund of Funds Index™ replaced the HFRI Fund of Funds Composite Index as the Fund’s primary benchmark because AlphaSimplex believes the index is an appropriate representation of hedge fund industry performance. |
2 | Hedge Fund Research, Inc. (“HFR”) is in no way related or connected to or affiliated with Natixis Global Asset Management, any of its related or affiliated companies or their financial products and funds (collectively and individually, “NGAM”). HFR has not participated in the creation or formation of NGAM financial products and funds, and HFR does not endorse or approve NGAM’s financial products and funds or recommend investing in NGAM financial products or funds. |
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Type of Account | Minimum Initial Purchase |
Minimum Subsequent Purchase |
Any account other than those listed below | $2,500 | $100 |
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 | $100 |
Coverdell Education Savings Accounts | $500 | $100 |
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Intentionally Left Blank |