HARRIS ASSOCIATES LARGE CAP VALUE FUND
NATIXIS U.S. MULTI-CAP EQUITY FUND
(the Funds)
Supplement dated February 28, 2014, to the Funds Statement of Additional Information dated May 1, 2013, as may be revised and supplemented from time to time.
On December 13, 2013, the Board of Trustees of Natixis Funds Trust I and Natixis Funds Trust II has approved name changes to the Harris Associates Large Cap Value Fund and the Natixis U.S. Multi-Cap Equity Fund. Effective at the close of business on February 28, 2014, the Funds names will change to the Natixis Oakmark Fund and the Natixis U.S. Equity Opportunities Fund, respectively, and accordingly, each reference to Harris Associates Large Cap Value Fund and Natixis U.S. Multi-Cap Equity Fund in the Statement of Additional Information (SAI) are hereby replaced with Natixis Oakmark Fund and Natixis U.S. Equity Opportunities Fund, respectively.
Effective at the close of business on February 28, 2014, all references to the Loomis Sayles - Mid Cap Growth segment and the Loomis Sayles Small/Mid Core segment of the Fund are removed. The name of the Loomis Sayles - Large Cap Growth segment is changed to the Loomis Sayles - All Cap Growth segment.
Effective at the close of business on February 28, 2014, the sub-section Subadvisory Fees under the section Fund Charges and Expenses is revised with respect to the Funds:
Fund |
Subadviser |
Date of Subadvisory Agreement |
Subadvisory fee payable to Subadviser (as a % of average daily net assets of the Fund/Segment) | |||||
Natixis Oakmark Fund |
Harris Associates L.P. | 10/29/02, as amended 02/28/14 |
0.52% 0.50% |
of the first $200 million; of amounts in excess of $200 million | ||||
Natixis U.S. Equity Opportunities Fund |
Harris Associates L.P. Large Cap Value Segment | 10/30/00, as amended 02/28/14 |
0.52% | on all assets of the Large Cap Value segment | ||||
Loomis, Sayles & Company, L.P. All Cap Growth Segment | 05/18/01, as amended 02/28/14 |
0.35% | on all assets of the All Cap Growth segment |
Effective at the close of business on February 28, 2014, William C. Nygren, Kevin G. Grant and M. Colin Hudson will succeed Edward S. Loeb, Michael J. Mangan and Diane L. Mustain as portfolio managers of the Natixis Oakmark Fund and the Harris Associates Large Cap Value segment of the Natixis U.S. Equity Opportunities Fund. All references to Messrs. Loeb and Mangan and Ms. Mustain with respect to the Natixis Oakmark Fund and the Natixis U.S. Equity Opportunities Fund are removed.
The following information supplements the sub-sections Portfolio Managers Management of Other Accounts and Portfolio Managers Ownership of Fund Shares within the section Portfolio Management Information.
Portfolio Managers Management of Other Accounts
As January 31, 2014, the portfolio managers of the Funds managed other accounts in addition to managing the Funds. The following table provides information on the other accounts managed by the portfolio managers:
Registered Investment Companies | Other Pooled Investment Vehicles | Other Accounts | ||||||||||||||||||||||
Other Accounts Managed |
Advisory fee is based on performance |
Other Accounts Managed |
Advisory fee is based on performance |
Other Accounts Managed |
Advisory fee is based on performance | |||||||||||||||||||
Name of Portfolio |
# of Accts |
Total Assets |
# of Accts |
Total Assets |
# of Accts |
Total Assets |
# of Accts |
Total Assets |
# of Accts |
Total Assets |
# of Accts |
Total Assets | ||||||||||||
William C. Nygren |
5 | $18 billion |
0 | 0 | 1 | $64.4 million |
0 | 0 | 3 | $308.1 million |
0 | 0 | ||||||||||||
Kevin G. Grant |
1 | $12 billion |
0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||||||
M. Colin Hudson |
1 | $19.6 billion |
0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Portfolio Managers Ownership of Fund Shares
As January 31, 2014, the portfolio managers of the Funds had the following ownership in the Funds:
Name of Portfolio |
Fund(s) Managed |
Dollar Range of Equity Securities Invested* | ||
William C. Nygren | Natixis Oakmark Fund Natixis U.S. Equity Opportunities Fund |
A | ||
Kevin G. Grant | Natixis Oakmark Fund Natixis U.S. Equity Opportunities Fund |
A | ||
M. Colin Hudson | Natixis Oakmark Fund Natixis U.S. Equity Opportunities Fund |
A |
* |
A.None |
E.$100,001 -$500,000 | ||
B.$1 -10,000 |
F.$500,001 -$1,000,000 | |||
C.$10,001 - $50,000 |
G.over $1,000,000 | |||
D.$50,001 -$100,000 |