497 1 d19615.txt LOOMIS SAYLES RETAIL EQUITY FUNDS LOOMIS SAYLES RETAIL INCOME FUNDS Supplement dated June 30, 2006 to the Loomis Sayles Retail Equity Funds Prospectus and Loomis Sayles Retail Income Funds Prospectus, each dated February 1, 2006, each as may be revised or supplemented from time to time Loomis Sayles Retail Equity Funds --------------------------------- Effective June 30, 2006, the third paragraph in the sub-section "Principal Investment Strategies" within the section "Risk/Return Summary," is amended and restated as follows with respect to the Loomis Sayles Value Fund: Loomis Sayles seeks to identify companies that it believes are, among other things, attractively valued based on Loomis Sayles' estimate of intrinsic value. Loomis Sayles generally seeks to find value by selecting individual stocks that it believes are attractive, rather than by attempting to achieve investment growth by rotating the Fund's holdings among various sectors of the economy. Effective July 1, 2006, the first paragraph in the sub-section "Redemption Fees" within the section "Restrictions on Buying, Selling and Exchanging Fund Shares," is amended and restated as follows: Redemption Fees (Loomis Sayles Small Cap Growth Fund and Loomis Sayles Small Cap Value Fund Only) Shareholders will be charged a 2% redemption fee if they redeem, including redeeming by exchange, any class shares of these Funds within 60 days of their acquisition (including acquisition by exchange). The redemption fee is intended to offset the costs to the Funds of short-term trading, such as portfolio transaction and market impact costs associated with redemption activity and administrative costs associated with processing redemptions. The redemption fee is deducted from the shareholder's redemption or exchange proceeds and is paid to the Fund, although there may be a delay between the time the fee is deducted from such proceeds and when it is paid to the Fund. Loomis Sayles Retail Income Funds --------------------------------- Effective July 1, 2006, the first paragraph in the sub-section "Redemption Fees" within the section "Restrictions on Buying, Selling and Exchanging Fund Shares," is amended and restated as follows: Redemption Fees (Loomis Sayles Bond Fund and Loomis Sayles Global Bond Fund Only) Shareholders will be charged a 2% redemption fee if they redeem, including redeeming by exchange, any class shares of these Funds within 60 days of their acquisition (including acquisition by exchange). The redemption fee is intended to offset the costs to the Funds of short-term trading, such as portfolio transaction and market impact costs associated with redemption activity and administrative costs associated with processing redemptions. The redemption fee is deducted from the shareholder's redemption or exchange proceeds and is paid to the Fund, although there may be a delay between the time the fee is deducted from such proceeds and when it is paid to the Fund. M-LSSP58-0606 Supplement dated June 30, 2006 to the Loomis Sayles Retail Funds, Loomis Sayles Institutional Funds, Loomis Sayles High Income Opportunities Fund, Loomis Sayles Securitized Asset Fund and Loomis Sayles Investment Grade Bond Fund Class J Statements of Additional Information each dated February 1, 2006, as may be revised and supplemented from time to time Effective May 19, 2006, Russell L. Kane succeeded Kristen S. Vigneaux as the Chief Compliance Officer for Mutual Funds. Accordingly, the table following the second paragraph in the section "Management of the Trust" is revised to delete all references to Kristen S. Vigneaux and to add the following:
---------------------------------------------------------------------------------------------------------------------------- Officers of the Trusts ---------------------------------------------------------------------------------------------------------------------------- Name and Date of Birth Position(s) Held Term of Office Principal Occupation(s) During Past 5 Years with the Trust and Length of Time Served ---------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------- Russell L. Kane Chief Compliance Chief Compliance Chief Compliance Officer for Mutual Funds, Vice (7/23/69) Officer; Officer, since May President, Associate General Counsel, Assistant Assistant 2006; Assistant Secretary and Assistant Clerk, IXIS Asset Management Secretary Secretary since Distributors, L.P. and IXIS Asset Management Advisors, June 2004 L.P.; Vice President, Associate General Counsel, Assistant Secretary and Assistant Clerk, IXIS Asset Management Distribution Corporation; formerly, Senior Counsel, Columbia Management Group. ----------------------------------------------------------------------------------------------------------------------------
Effective July 1, 2006, Edward A. Benjamin becomes Chairman of the Contract Review and Governance Committee (the "Committee") succeeding Kenneth J. Cowan, who remains as a member of the Committee. Accordingly, the table after paragraph two in the section "Management of the Trusts" and the listing of committee membership of the Trustees after paragraph three in the sub-section "Standing Board Committees" are revised as follows with regard to Messrs. Benjamin and Cowan:
---------------------------------------------------------------------------------------------------------------------------- Name and Date of Birth Position(s) Held with the Principal Occupation(s) Number of Portfolios in Fund Trusts, Length of Time During Past 5 Years** Complex Overseen*** Served and Term of Office* and Other Directorships Held ---------------------------------------------------------------------------------------------------------------------------- INDEPENDENT TRUSTEES ---------------------------------------------------------------------------------------------------------------------------- Edward A. Benjamin (5/30/38) Trustee since 2003 for IXIS Retired 38 Advisor Funds Trust I, IXIS Advisor Funds Trust II, Director, Precision Optics IXIS Advisor Funds Trust Corporation (optics III and IXIS Advisor Funds manufacturer) Trust IV Chairman of the Contract Review and Governance Committee ----------------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------------- Name and Date of Birth Position(s) Held with the Principal Occupation(s) Number of Portfolios in Fund Trusts, Length of Time During Past 5 Years** Complex Overseen*** Served and Term of Office* and Other Directorships Held ---------------------------------------------------------------------------------------------------------------------------- Kenneth J. Cowan (4/5/32) Trustee since 1993 for IXIS Retired 38 Advisor Funds Trust I; since 1975 for IXIS Advisor None Funds Trust II; since 1995 for IXIS Advisor Funds Trust III; and since 2000 for IXIS Advisor Funds Trust IV Contract Review and Governance Committee Member (formerly, Co-Chairman of the Board, August 2004 - November 2005) ----------------------------------------------------------------------------------------------------------------------------
The current membership of each committee is as follows: Audit Committee Contract Review and Governance Committee Daniel M. Cain - Chairman Edward A. Benjamin- Chairman John A. Shane Graham T. Allison, Jr. Cynthia L. Walker Charles D. Baker Paul G. Chenault Kenneth J. Cowan Richard Darman
As chairperson of the Board of Trustees, Ms. Moose is an ex officio member of both Committees. M-LSSP59-0606 Supplement dated June 30, 2006 to the Statement of Additional Information - Part II for IXIS Advisor Funds Trust I, IXIS Advisor Funds Trust II and Loomis Sayles Funds II dated February 1, 2006, as may be revised and supplemented from time to time Effective May 19, 2006, Russell L. Kane succeeded Kristen S. Vigneaux as the Chief Compliance Officer for Mutual Funds. Accordingly, the table following the second paragraph in the section "Management of the Trust" is revised to delete all references to Kristen S. Vigneaux and to add the following:
------------------------------------------------------------------------------------------------------------------------- Officers of the Trusts ------------------------------------------------------------------------------------------------------------------------- Name and Date of Birth Position(s) Held Term of Office and Principal Occupation(s) During Past 5 Years with the Trust Length of Time Served ------------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------- Russell L. Kane Chief Compliance Chief Compliance Chief Compliance Officer for Mutual Funds, Vice (7/23/69) Officer; Officer, since May President, Associate General Counsel, Assistant Assistant 2006; Assistant Secretary and Assistant Clerk, IXIS Asset Management Secretary Secretary since Distributors, L.P. and IXIS Asset Management Advisors, June 2004 L.P.; Vice President, Associate General Counsel, Assistant Secretary and Assistant Clerk, IXIS Asset Management Distribution Corporation; formerly, Senior Counsel, Columbia Management Group. -------------------------------------------------------------------------------------------------------------------------
Effective July 1, 2006, Edward A. Benjamin becomes Chairman of the Contract Review and Governance Committee (the "Committee") succeeding Kenneth J. Cowan, who remains as a member of the Committee. Accordingly, the table after paragraph two in the section "Management of the Trusts" and the listing of committee membership of the Trustees after paragraph three in the sub-section "Standing Board Committees" are revised as follows with regard to Messrs. Benjamin and Cowan:
------------------------------------------------------------------------------------------------------------------------- Name and Date of Birth Position(s) Held with the Principal Occupation(s) Number of Portfolios in Fund Trusts, Length of Time During Past 5 Years** Complex Overseen*** Served and Term of Office* and Other Directorships Held ------------------------------------------------------------------------------------------------------------------------- INDEPENDENT TRUSTEES ------------------------------------------------------------------------------------------------------------------------- Edward A. Benjamin (5/30/38) Trustee since 2003 for IXIS Retired 38 Advisor Funds Trust I, IXIS Advisor Funds Trust II, Director, Precision Optics IXIS Advisor Funds Trust Corporation (optics III and IXIS Advisor Funds manufacturer) Trust IV Chairman of the Contract Review and Governance Committee -------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------- Name and Date of Birth Position(s) Held with the Principal Occupation(s) Number of Portfolios in Fund Trusts, Length of Time During Past 5 Years** Complex Overseen*** Served and Term of Office* and Other Directorships Held ------------------------------------------------------------------------------------------------------------------------- Kenneth J. Cowan (4/5/32) Trustee since 1993 for IXIS Retired 38 Advisor Funds Trust I; since 1975 for IXIS Advisor None Funds Trust II; since 1995 for IXIS Advisor Funds Trust III; and since 2000 for IXIS Advisor Funds Trust IV Contract Review and Governance Committee Member (formerly, Co-Chairman of the Board, August 2004 - November 2005) -------------------------------------------------------------------------------------------------------------------------
The current membership of each committee is as follows: Audit Committee Contract Review and Governance Committee Daniel M. Cain - Chairman Edward A. Benjamin- Chairman John A. Shane Graham T. Allison, Jr. Cynthia L. Walker Charles D. Baker Paul G. Chenault Kenneth J. Cowan Richard Darman
As chairperson of the Board of Trustees, Ms. Moose is an ex officio member of both Committees. SP308-0606