-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, WQpLgvhBSW9pucM1LdtsGbE2Fdof/dBvzsL+jeKbPO1hNq7oHBxbWW8EGW9X6h34 nSJE0RYPwS4uu63oG7TDzA== 0001127563-03-000156.txt : 20030707 0001127563-03-000156.hdr.sgml : 20030704 20030707142702 ACCESSION NUMBER: 0001127563-03-000156 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20030707 EFFECTIVENESS DATE: 20030707 FILER: COMPANY DATA: COMPANY CONFORMED NAME: LOOMIS SAYLES FUNDS CENTRAL INDEX KEY: 0000872649 IRS NUMBER: 043113285 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-39133 FILM NUMBER: 03776766 BUSINESS ADDRESS: STREET 1: ONE FINANCIAL CENTER CITY: BOSTON STATE: MA ZIP: 02111 BUSINESS PHONE: 6173103609 MAIL ADDRESS: STREET 1: ONE FINANCIAL CENTER CITY: BOSTON STATE: MA ZIP: 02111 497 1 lssp30703.txt LSSP3 LOOMIS SAYLES FUNDS I LOOMIS SAYLES FUNDS II Supplement dated July 1, 2003 to the Statements of Additional Information for Loomis Sayles Funds I and Loomis Sayles Funds II (the "SAIs"), each dated February 1, 2003, as revised April 15, 2003, each as may be supplemented from time to time The Board of Trustees of Loomis Sayles Funds I and Loomis Sayles Funds II (the "Loomis Trusts") and shareholders of series thereof recently approved new trustees for the Loomis Trusts. This approval results is a combined Board of Trustees for the Loomis Trusts and CDC Nvest Funds Trusts I, II, and III, CDC Nvest Companies Trust I, CDC Nvest Cash Management Trust, CDC Nvest Tax Exempt Money Market Trust and AEW Real Estate Income Fund (the "CDC Nvest Funds Complex"). On June 12, 2003, the Board of Trustees (the "Trustees") of Loomis Sayles Funds I and Loomis Sayles Funds II (the "Trusts") approved the assignment of the existing Administrative Services Agreement among the Trusts and Loomis, Sayles and Company, L.P. to CDC IXIS Asset Management Services, Inc. ("CIS"). This assignment will take effect on July 1, 2003. EFFECTIVE JUNE 1, 2003 THE FOLLOWING LANGUAGE REPLACES THE TEXT UNDER THE SECTION ENTITLED "MANAGEMENT OF THE TRUST" IN THE SAIS.
- ------------------------------ ---------------- -------------- ----------------------------- -------------- ------------------------ TERM OF NUMBER OF OFFICE AND PORTFOLIOS POSITION(S) LENGTH OF IN FUND HELD WITH TIME PRINCIPAL OCCUPATION(S) COMPLEX OTHER DIRECTORSHIPS NAME, AGE AND ADDRESS FUNDS SERVED DURING PAST 5 YEARS OVERSEEN HELD ---------------------- ----- ------ ------------------- -------- ---- - ------------------------------ ---------------- -------------- ----------------------------- -------------- ------------------------ - ----------------------------------------------- -------------- ----------------------------- -------------- ------------------------ INDEPENDENT TRUSTEES - ----------------------------------------------- -------------- ----------------------------- -------------- ------------------------ - ------------------------------ ---------------- -------------- ----------------------------- -------------- ------------------------ JOSEPH ALAIMO (72)+ Trustee Until Chairman, Wayne Hummer 22 Formerly, Director 399 Boylston Street retirement Trust Company Wintrust Financial Boston, MA 02116 Corporation 4 years - ------------------------------ ---------------- -------------- ----------------------------- -------------- ------------------------ - ------------------------------ ---------------- -------------- ----------------------------- -------------- ------------------------ GRAHAM T. ALLISON, JR. (63) Trustee Until Douglas Dillon Professor 44 Director, Taubman 399 Boylston Street retirement* and Director of the Belfer Centers, Inc. Boston, MA 02116 Contract Center of Science for Review and 19 years International Affairs, John Board Member, USEC Inc. Governance F. Kennedy School of Committee Government, Harvard Member University - ------------------------------ ---------------- -------------- ----------------------------- -------------- ------------------------ - ------------------------------ ---------------- -------------- ----------------------------- -------------- ------------------------ EDWARD A. BENJAMIN (65) Trustee Until Director, Coal, Energy 46 Trustee, New England 399 Boylston Street retirement* Investments & Management, Zenith Fund Boston, MA 02116 Audit LLC; formerly, Partner, Committee 1 year Ropes & Gray (law firm) Director, Precision Member until 1999 Optics Corporation (optics manufacturer) - ------------------------------ ---------------- -------------- ----------------------------- -------------- ------------------------ - ------------------------------ ---------------- -------------- ----------------------------- -------------- ------------------------ DANIEL M. CAIN (58) Trustee Until President and CEO, Cain 44 Trustee, Universal 452 Fifth Avenue retirement* Brothers & Company, Health Realty Income New York, NY 10018 Chairman of Incorporated (investment Trust the Audit 7 years banking) Committee Director, PASC - ------------------------------ ---------------- -------------- ----------------------------- -------------- ------------------------ - ------------------------------ ---------------- -------------- ----------------------------- -------------- ------------------------ PAUL G. CHENAULT (69) Trustee Until Retired; Trustee, First 44 Director, Mailco Office 5852 Pebble Beach Way retirement* Variable Life (variable Products, Inc. San Luis Obispo, CA 18270 Contract life insurance) Review and 4 years Governance Committee Member - ------------------------------ ---------------- -------------- ----------------------------- -------------- ------------------------ - ------------------------------ ---------------- -------------- ----------------------------- -------------- ------------------------ KENNETH J. COWAN (71) Trustee Until Retired 44 None 399 Boylston Street retirement* Boston, MA 02116 Chairman of the Contract 28 years Review and Governance Committee - ------------------------------ ---------------- -------------- ----------------------------- -------------- ------------------------ - ------------------------------ ---------------- -------------- ----------------------------- -------------- ------------------------ RICHARD DARMAN (60) Trustee Until Partner, The Carlyle Group 44 Director and Vice 399 Boylston Street retirement* (investments); formerly, Chairman, AES Boston, MA 02116 Contract Professor, John F. Kennedy Corporation Review and 7 years School of Government, Governance Harvard University Committee Member - ------------------------------ ---------------- -------------- ----------------------------- -------------- ------------------------ - ------------------------------ ---------------- -------------- ----------------------------- -------------- ------------------------ SANDRA O. MOOSE (61) Trustee Until Senior Vice President and 44 Director, Verizon One Exchange Place retirement* Director, The Boston Communications Boston, MA 02109 Audit Consulting Group, Inc. Committee 21 years (management Director, Rohm and Haas Member consulting) Company - ------------------------------ ---------------- -------------- ----------------------------- -------------- ------------------------ - ------------------------------ ---------------- -------------- ----------------------------- -------------- ------------------------ JOHN A. SHANE (70) Trustee Until President, Palmer Service 44 Director, Gensym 200 Unicorn Park Drive retirement* Corporation (venture Corporation; Director, Woburn, MA 01801 Contract capital organization) Overland Storage, Inc.; Review and 21 years Director, Abt Governance Associates Inc. Committee Member - ------------------------------ ---------------- -------------- ----------------------------- -------------- ------------------------ - ------------------------------ ---------------- -------------- ----------------------------- -------------- ------------------------ PENDLETON P. WHITE (72) Trustee Until Retired 44 None 6 Breckenridge Lane retirement* Savannah, GA 31411 Contract Review and 22 years Governance Committee Member - ------------------------------ ---------------- -------------- ----------------------------- -------------- ------------------------ - ----------------------------------------------- -------------- ----------------------------- -------------- ------------------------ INTERESTED TRUSTEES - ----------------------------------------------- -------------- ----------------------------- -------------- ------------------------ - ------------------------------ ---------------- -------------- ----------------------------- -------------- ------------------------ ROBERT J. BLANDING1 (56) Chief Not President, Chairman, 44 None 555 Califonia Street Executive Applicable Director, and Chief San Francisco, CA 94104 Officer - Executive Officer, Loomis Loomis Sayles Less than 1 Sayles Funds II; year President and CEO - Loomis Sayles Funds I Trustee - ------------------------------ ---------------- -------------- ----------------------------- -------------- ------------------------ - ------------------------------ ---------------- -------------- ----------------------------- -------------- ------------------------ JOHN T. HAILER2 (42) President and Not President and Chief 44 None 399 Boylston Street Chief Applicable Executive Officer, CDC IXIS Boston, MA 02116 Executive Asset Management Officer - CDC 3 years Distributors, L.P.; Nvest Funds; formerly, Senior Vice President - President, Fidelity Loomis Sayles Investments Funds II Trustee - ------------------------------ ---------------- -------------- ----------------------------- -------------- ------------------------ - ------------------------------ ---------------- -------------- ----------------------------- -------------- ------------------------ PETER S. VOSS3 (56) Chairman of Not Director, President and 44 Trustee, Harris 399 Boylston Street the Board Applicable Chief Executive Officer, Associates Investment Boston, MA 02116 CDC IXIS Asset Management Trust4 Trustee 11 years North America, L.P. - ------------------------------ ---------------- -------------- ----------------------------- -------------- ------------------------
+Mr. Alaimo is a Trustee of Loomis Sayles Funds I and Loomis Sayles Funds II, but not of the CDC Nvest Funds. *All Trustees serve until retirement, resignation or removal from the Board. The current retirement age is 72. Messrs. Alaimo and White are expected to retire by December 31, 2003. 1 Mr. Blanding is deemed an "interested person" of Loomis Sayles Funds I and Loomis Sayles Funds II because he holds the following positions with affiliated persons of the Trusts: President, Chairman, Director and Chief Executive Officer of Loomis, Sayles & Company, L.P. ("Loomis Sayles"). 2 Mr. Hailer is an "interested person" of the Loomis Sayles Funds I and Loomis Sayles Funds II because he holds the following positions with affiliated persons of the Trusts: Director and Executive Vice President of CDC IXIS Asset Management Distribution Corporation ("CDC IXIS Distribution Corporation"); and President and Chief Executive Officer of CDC IXIS Asset Management Advisers, L.P. ("CDC IXIS Advisers"). 3 Mr. Voss is an "interested person" of the Loomis Sayles Funds I and Loomis Sayles Funds II because he holds the following positions with affiliated persons of the Trusts: Director of CDC IXIS Asset Management Services, Inc. ("CIS"); Director of CDC IXIS Distribution Corporation; Director and Chairman of CDC IXIS Asset Management Associates Inc. ; Director of AEW Capital Management, Inc; Director of Harris Associates, Inc; Director of Loomis, Sayles & Company, Inc.; Director of Reich & Tang Asset Management Inc.; Director of Westpeak Investment Advisors, Inc.; and Director of Vaughan, Nelson, Scarborough & McCullough, Inc. 4 As of January 30, 2003, Harris Associates Investment Trust had seven series that were overseen by its Board of Trustees. EFFECTIVE JULY 1, 2003, THE FOLLOWING LANGUAGE REPLACES THE TEXT UNDER THE SECTION ENTITLED "MANAGEMENT OF THE TRUST" IN THE SAIS.
- ----------------------------- ---------------- -------------- ----------------------------- ---------------- ----------------------- TERM OF OFFICE AND NUMBER OF POSITION(S) LENGTH OF PORTFOLIOS IN HELD WITH TIME PRINCIPAL OCCUPATION(S) FUND COMPLEX OVERSEEN OTHER DIRECTORSHIPS NAME, AGE AND ADDRESS FUNDS SERVED DURING PAST 5 YEARS HELD - ---------------------- ----- ------ ------------------- ---- - ----------------------------- ---------------- -------------- ----------------------------- ---------------- ----------------------- - ----------------------------- ---------------- -------------- ----------------------------- ---------------- ----------------------- OFFICERS - ----------------------------- ---------------- -------------- ----------------------------- ---------------- ----------------------- - ----------------------------- ---------------- -------------- ----------------------------- ---------------- ----------------------- NICHOLAS H. PALMERINO (38) Treasurer Not Senior Vice President, CDC N/A N/A 399 Boylston Street Applicable IXIS Asset Management Boston, MA 02116 Services, Inc.; Senior Vice President, CDC IXIS Asset Management Advisers, L.P.; formerly, Vice President, Loomis, Sayles & Company, L.P. - ----------------------------- ---------------- -------------- ----------------------------- ---------------- ----------------------- - ----------------------------- ---------------- -------------- ----------------------------- ---------------- ----------------------- JOHN E. PELLETIER (39) Secretary and Not Senior Vice President, N/A N/A 399 Boylston Street Clerk Applicable General Counsel, Secretary Boston, MA 02116 and Clerk, CDC IXIS Distribution Corporation; Senior Vice President, General Counsel, Secretary and Clerk, CDC IXIS Asset Management Distributors, L.P.; Senior Vice President, General Counsel, Secretary and Clerk, CDC IXIS Asset Management Advisers, L.P.; Executive Vice President, General Counsel, Secretary, Clerk, and Director, CDC IXIS Asset Management Services, Inc. - ----------------------------- ---------------- -------------- ----------------------------- ---------------- -----------------------
Each person listed above holds the same position(s) with CDC Nvest Funds Trusts I, II, and III, CDC Nvest Companies Trust I, CDC Nvest Cash Management Trust, CDC Nvest Tax Exempt Money Market Trust and AEW Real Estate Income Fund and Loomis Sayles Funds I and Loomis Sayles Funds II except as noted above. Previous positions during the past five years with CDC IXIS Asset Management Distributors, L.P., CDC IXIS Advisers or Loomis Sayles are omitted, if not materially different from a trustee's or officer's current position with such entity. As indicated below under "Trustee Fees," each of the Trusts' trustees is also a trustee of certain other investment companies for which the Distributor acts as principal underwriter. STANDING BOARD COMMITTEES The trustees have delegated certain authority to the Audit Committee and Contract Review and Governance Committee. Prior to the unification of the board, the Board of Trustees of the Loomis Sayles Complex included three committees: Audit Committee, Contract Review Committee and Nominating and Governance Committee. During 2002, each of these committees met twice. The Contract Review and Governance Committee of the Trusts is comprised solely of Independent Trustees and considers matters relating to advisory, subadvisory and distribution arrangements, potential conflicts of interest between the adviser and the Trusts, and governance matters relating to the Trusts. The Audit Committee of the Trusts is comprised solely of Independent Trustees and considers matters relating to the scope and results of the Trusts' audits and serves as a forum in which the independent accountants can raise any issues or problems identified in the audit with the Board of Trustees. This Committee also reviews and monitors compliance with stated investment objectives and policies, SEC and Treasury regulations as well as operational issues relating to the transfer agent and custodian. The membership of each committee is as follows: AUDIT COMMITTEE CONTRACT REVIEW AND GOVERNANCE COMMITTEE Daniel M. Cain - Chairman Kenneth J. Cowan - Chairman Sandra O. Moose Graham T. Allison, Jr. Edward A. Benjamin Richard Darman Pendleton P. White John A. Shane Paul G. Chenault TRUSTEE FEES The Trusts pay no compensation to their officers or to their trustees who are Interested Trustees. Each Independent Trustee, except Joseph Alaimo, receives, in the aggregate, a retainer fee at the annual rate of $45,000 and meeting attendance fees of $4,500 for each meeting of the Board of Trustees that he or she attends. Each committee member receives an additional retainer fee at the annual rate of $7,000. Furthermore, each committee chairman receives an additional retainer fee (beyond the $7,000 fee) at the annual rate of $5,000. The retainer fees assume four Committee meetings per year. Each Trustee is compensated $1,750 per Committee meeting that he or she attends in excess of four per year. In addition, for oversight of the AEW Real Estate Income Fund each Trustee receives a retainer fee at the annual rate of $2,000 and meeting attendance fees of $375 for each meeting of the Board of Trustees that he or she attends. Each committee member receives an additional retainer fee at the annual rate of $2,000. Furthermore, each committee chairman receives an additional retainer fee (beyond the $2,000 fee) at the annual rate of $1,000. The retainer fees assume four Committee meetings per year. Each Trustee is compensated $200 per Committee meeting that he or she attends in excess of four per year. These fees are allocated among the mutual fund portfolios in the Trusts and the CDC Nvest Funds Trusts based on a formula that takes into account, among other factors, the relative net assets of each Fund. Mr. Alaimo is compensated at the rate of $5,000 for each meeting of the Board of Trustees that he attends. In addition, he receives an annual retainer of $20,000. These fees are allocated among the mutual fund portfolios in the Trusts based on a formula that takes into account, among other factors, the relative net assets of each Fund. IN THE STATEMENT OF ADDITIONAL INFORMATION (THE "SAI") UNDER THE SECTION ENTITLED "OTHER SERVICES", ALL REFERENCES TO LOOMIS SAYLES ARE REPLACED WITH REFERENCES TO CDC IXIS ASSET MANAGEMENT SERVICES, INC. THE FOLLOWING LANGUAGE IS ADDED TO THE SAI AT THE BEGINNING OF THE SECTION ENTITLED "OTHER SERVICES" : Effective July 1, 2003, Loomis, Sayles & Company, L.P. assigned its administrative services agreement to CDC IXIS Asset Management Services, Inc. ("CIS"). LSSP3-0703 -----END PRIVACY-ENHANCED MESSAGE-----