LOOMIS SAYLES RESEARCH FUND

Supplement dated June 28, 2005 to the IXIS Advisor Equity Funds Classes A, B and
C Prospectus  dated February 1, 2005, as revised on May 1, 2005, and to the IXIS
Advisor Equity Funds Class Y Prospectus  dated February 1, 2005,  each as may be
supplemented from time to time

Effective July 1, 2005,  Brian James and Maureen G. Depp became  co-leaders of a
team of Loomis Sayles  research  analysts  managing the Loomis  Sayles  Research
Fund, replacing Lauriann Kloppenburg, who previously led the team. The following
paragraphs replace the paragraph regarding Lauriann Kloppenburg in the "Meet the
Funds' Portfolio Managers" section of each Prospectus:


BRIAN JAMES

Brian James has co-led a team of Loomis Sayles  research  analysts  managing the
LOOMIS SAYLES  RESEARCH  FUND since July 2005.  Mr.  James,  Vice  President and
co-director  of Equity  Research of Loomis  Sayles,  joined the firm in 1998. He
received a B.A. from Hampshire College, an M.P.P. from Harvard University School
of Government  and an M.B.A.  from Harvard  University  School of Business.  Mr.
James holds the designation of Chartered Financial Analyst and has over 24 years
of investment experience.


MAUREEN G. DEPP

Maureen G. Depp has co-led a team of Loomis Sayles  research  analysts  managing
the LOOMIS SAYLES  RESEARCH FUND since July 2005.  Ms. Depp,  Vice President and
co-director of Equity Research of Loomis Sayles,  joined the firm in 2004. Prior
to joining Loomis Sayles,  she was a Managing Director and Associate Director of
Research at State Street Research & Management Company. Ms. Depp received a B.S.
from St. John's  University  and an M.B.A.  from the University of Rhode Island.
She holds the designation of Chartered  Financial  Analyst and has over 28 years
of investment experience.


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