NATIXIS FUNDS
Supplement dated July 1, 2014 to the Natixis Funds Statement of Additional Information dated May 1, 2014, as may
be revised or supplemented from time to time, for the following funds:
AEW Real Estate Fund |
Natixis Oakmark International Fund | |
CGM Advisor Targeted Equity Fund |
Natixis U.S. Equity Opportunities Fund | |
Natixis Diversified Income Fund |
Vaughan Nelson Small Cap Value Fund | |
Natixis Oakmark Fund |
Vaughan Nelson Value Opportunity Fund |
AEW REAL ESTATE FUND
Effective July 1, 2014, AEW Capital Management, L.P., has given a binding contractual undertaking to the AEW Real Estate Fund to limit the amount of the Funds total annual fund operating expenses (exclusive of brokerage expenses, interest expenses, taxes, acquired fund fees and expenses, organizational and extraordinary expenses, such as litigation and indemnification expenses) to 1.40%, 2.15%, 2.15%, 1.10% and 1.15% of the Funds average daily net assets for Class A, B, C, N and Y shares, respectively. This undertaking is in effect through April 30, 2016. Accordingly, the table regarding expense limits in the sub-section Advisory Fees in the section Fund Charges and Expenses is amended with respect to the AEW Real Estate Fund as follows:
Fund |
Expense Limit |
Date of Undertaking | ||
AEW Real Estate Fund |
July 1, 2014 | |||
Class A |
1.40% | |||
Class B |
2.15% | |||
Class C |
2.15% | |||
Class N |
1.10% | |||
Class Y |
1.15% |
ALL FUNDS
Effective July 1, 2014, the below paragraph should be added to the section Fund Charges and Expenses after the sub-section of Sales Charges and Distribution and Service (12b-1) Fees:
TRANSFER AGENCY EXPENSES
NGAM Advisors has given a binding contractual undertaking to the AEW Real Estate Fund and Vaughan Nelson Value Opportunity Fund to reimburse any and all transfer agency expenses for Class N shares. This undertaking is in effect through April 30, 2016 and may be terminated before then only with the consent of the Funds Board of Trustees.
Effective July 1, 2014, the first paragraph within the Portfolio Holdings Information is hereby amended and restated as follows:
Each Trusts Board has adopted policies to limit the disclosure of confidential portfolio holdings information and to ensure equal access to such information, except in certain circumstances as approved by the Board. These policies are summarized below. Generally, portfolio holdings information will not be disclosed until it is first posted on the Funds website at ngam.natixis.com. Generally, full portfolio holdings information will not be posted until it is aged for at least 30 days (15 days for Small Cap Value Fund and Value Opportunity Fund and 10 business days after quarter-end for Natixis Oakmark Fund, Natixis Oakmark International Fund and Natixis U.S. Equity Opportunities Fund). A list of Small Cap Value Funds and Value Opportunity Funds top 10 holdings will generally be available on a monthly basis within 7 business days after month-end. Any holdings information that is released must clearly indicate the date of the information, and must state that due to active management, the Funds may or may not still invest in the securities listed. Portfolio characteristics, such as industry/sector breakdown, current yield, quality breakdown, duration, average price-earnings ratio and other similar information may be provided on a current basis. However, portfolio characteristics do not include references to specific portfolio holdings.