NATIXIS FUNDS
Supplement dated December 28, 2012, to the Natixis Funds Statement of Additional Information
dated February 1, 2012, as may be revised or supplemented from time to time, for the following funds:
| Loomis Sayles Core Plus Bond Fund |
Loomis Sayles Investment Grade Bond Fund | |
| Loomis Sayles Global Equity and Income Fund |
Loomis Sayles Limited Term Government and Agency Fund | |
| Loomis Sayles Growth Fund |
Loomis Sayles Mid Cap Growth Fund | |
| Loomis Sayles High Income Fund |
Loomis Sayles Strategic Income Fund | |
| Loomis Sayles International Bond Fund |
Loomis Sayles Value Fund |
Effective January 1, 2013, Edmond J. English has been appointed as an Independent Trustee to the Board of Trustees for the Natixis Funds, Loomis Sayles Funds and Hansberger International Series. Accordingly, the following is hereby added to the table located in the sub-section “Trustees and Officers” within the section “Management of the Trusts”:
| Name and Year of Birth |
Position(s) Held with the Trust(s), Length of Time Served and Term of Office1 |
Principal Occupation(s) During Past 5 Years |
Number of Portfolios in Fund Complex Overseen2 and Other Directorships Held During Past 5 Years |
Experience, Qualifications, Attributes, Skills for Board Membership | ||||
| Edmond J. English (1953) |
Trustee
Since 2013 for Natixis Funds Trust I and Loomis Sayles Funds II
Contract Review and Governance Committee Member |
Chief Executive Officer of Bob’s Discount Furniture (retail) |
44
Formerly, Director, BJ’s Wholesale Club (retail); formerly, Director, Citizens Financial Group (bank) |
Significant experience on the board of other business organizations (including at a retail company and a bank); executive experience (including at a retail company) |
| 1 | Each trustee serves until retirement, resignation or removal from the Board of Trustees of the Trusts. The current retirement age is 72. The position of Chairperson of the Board is appointed for a two-year term. Ms. Moose was appointed to serve an additional two year term as the Chairperson of the Board on November 18, 2011. |
| 2 | The trustees of the Trusts serve as trustees of a fund complex that includes all series of the Natixis Funds Trust I, Natixis Funds Trust II, Natixis Funds Trust IV and Gateway Trust (collectively, the “Natixis Funds Trusts”), Loomis Sayles Funds I and Loomis Sayles Funds II (collectively, the “Loomis Sayles Funds Trusts”), and Hansberger International Series (collectively, the “Fund Complex”). |
Effective at the close of business on December 31, 2012, Graham T. Allison, Jr. has retired from the Board of Trustees of the Trusts. Accordingly, all references to Mr. Allison are hereby deleted at the close of business on December 31, 2012.
Effective January 1, 2013, the first paragraph in the sub-section “Leadership and Structure of the Board” within the section “Management of the Trusts” is hereby replaced with the following:
The Board is led by the Chairperson of the Board, who is an Independent Trustee. The Board of Trustees of Natixis Funds Trust I, Natixis Funds Trust IV, Loomis Sayles Funds I, Loomis Sayles Funds II, Gateway Trust and Hansberger International Series currently consists of thirteen trustees, ten of whom are Independent Trustees. The Board of Trustees of Natixis Funds Trust II currently consists of thirteen trustees, nine of whom are Independent Trustees. The trustees have delegated significant oversight authority to the two standing committees of the Trust, the Audit Committee and Contract Review and Governance Committee. The Audit Committee consists solely of Independent Trustees. These committees meet separately and at times jointly, with the joint meetings intended to educate and involve all Independent Trustees in significant committee-level topics. As well as handling matters directly, the committees raise matters to the Board for consideration. In addition to the oversight performed by the committees and the Board, the Chairperson of the Board and the chairpersons of each committee interact frequently with management regarding topics to be considered at Board and committee meetings as well as items arising between meetings. At least once a year the Board reviews its governance structure. The Board believes its leadership structure is appropriate and effective in that it allows for oversight at the committee or board level, as the case may be, while facilitating communications among the trustees and between the Board and Fund management.
Effective January 1, 2013, Edmond J. English has been appointed as a member of the Contract Review and Governance Committee and Erik R. Sirri has resigned from the Contract Review and Governance Committee and has been appointed as a member of the Audit Committee. Accordingly, the list of the members of the Audit Committee and Contract Review and Governance Committee in the sub-section “Leadership and Structure of the Board” within the section “Management of the Trusts” is hereby replaced with the following:
| Audit Committee |
Contract Review and Governance Committee | |
| Kenneth A. Drucker – Chairman |
Daniel M. Cain – Chairman | |
| Wendell J. Knox |
Charles D. Baker | |
| Erik R. Sirri |
Edmond J. English | |
| Cynthia L. Walker |
Martin T. Meehan | |
| Peter J. Smail |
Effective January 1, 2013, the second paragraph in the sub-section “Trustee Fees” within the section “Management of the Trusts” is hereby replaced with the following:
The Chairperson of the Board receives a retainer fee at the annual rate of $285,000. The Chairperson does not receive any meeting attendance fees for Board of Trustees meetings or committee meetings that she attends. Each Independent Trustee (other than the Chairperson) receives, in the aggregate, a retainer fee at the annual rate of $115,000. Each Independent Trustee also receives a meeting attendance fee of $10,000 for each meeting of the Board of Trustees that he or she attends in person and $5,000 for each meeting of the Board of Trustees that he or she attends telephonically. In addition, each committee chairman receives an additional retainer fee at the annual rate of $17,500. Each Contract Review and Governance Committee and Audit Committee member is compensated $6,000 for each Committee meeting that he or she attends in person and $3,000 for each committee meeting that he or she attends telephonically. These fees are allocated among the mutual fund portfolios in the Natixis Funds Trusts, Loomis Sayles Funds Trusts, Hansberger International Series and Gateway Trust based on a formula that takes into account, among other factors, the relative net assets of each mutual fund portfolio.
As of December 31, 2011, Mr. English owned shares of Funds overseen by the Board of Trustees for the Natixis Funds, Loomis Sayles Funds and Hansberger International Series. Accordingly, the following is hereby added to the table located in the sub-section “Fund Securities Owned by the Trustees” within the section “Management of the Trusts”:
Independent Trustees
| Dollar Range of Fund Shares1 |
Edmond J. English | |
| Core Plus Bond Fund |
A | |
| Global Equity and Income Fund |
A | |
| Growth Fund |
A | |
| High Income Fund |
A | |
| International Bond Fund |
A | |
| Investment Grade Bond Fund |
E | |
| Limited Term Government and Agency Fund |
A | |
| Mid Cap Growth Fund |
A | |
| Strategic Income Fund |
E | |
| Value Fund |
A | |
| Aggregate Dollar Range of Fund Shares in Fund Complex Overseen by Trustee |
E |
| 1 A. |
None |
D. |
$50,001- $100,000 | |||
| B. |
$1- 10,000 |
E. |
over $100,000 | |||
| C. |
$10,001- $50,000 |
LOOMIS SAYLES FUNDS
Supplement dated December 28, 2012, to the Loomis Sayles Funds Statement of Additional Information dated February 1, 2012, as may be revised or supplemented from time to time, for the following funds:
| Loomis Sayles Bond Fund |
Loomis Sayles Intermediate Duration Bond Fund | |
| Loomis Sayles Global Bond Fund |
Loomis Sayles Small Cap Growth Fund | |
| Loomis Sayles Inflation Protected Securities Fund |
Loomis Sayles Small Cap Value Fund |
Effective January 1, 2013, Edmond J. English has been appointed as an Independent Trustee to the Board of Trustees for the Natixis Funds, Loomis Sayles Funds and Hansberger International Series. Accordingly, the following is hereby added to the table located in the sub-section “Trustees and Officers” within the section “Management of the Trusts”:
| Name and Year of Birth |
Position(s) Held with the Trust(s), Term of Office* |
Principal Past 5 Years |
Number of During the Past 5 |
Experience, Qualifications, Attributes, Skills for Board Membership | ||||
| Edmond J. English (1953) |
Trustee
Since 2013 for Loomis Sayles Funds I and Loomis Sayles Funds II
Contract Review and Governance Committee Member |
Chief Executive Officer of Bob’s Discount Furniture (retail) | 44
Formerly, Director, BJ’s Wholesale Club (retail); formerly, Director, Citizens Financial Group (bank) |
Significant experience on the board of other business organizations (including at a retail company and a bank); executive experience (including at a retail company) |
| * | Each trustee serves until retirement, resignation or removal from the Board of Trustees of the Trusts. The current retirement age is 72. The position of Chairperson of the Board is appointed for a two-year term. Ms. Moose was appointed to serve an additional two-year term as the Chairperson of the Board of Trustees on November 18, 2011. |
| ** | The trustees of the Trusts serve as trustees of a fund complex that includes all series of the Natixis Funds Trust I, Natixis Funds Trust II, Natixis Funds Trust IV and Gateway Trust (collectively, the “Natixis Funds Trusts”), Loomis Sayles Funds I and Loomis Sayles Funds II (collectively, the “Loomis Sayles Funds Trusts”), and Hansberger International Series (collectively, the “Fund Complex”). |
Effective at the close of business on December 31, 2012, Graham T. Allison, Jr. has retired from the Board of Trustees of the Trusts. Accordingly, all references to Mr. Allison are hereby deleted at the close of business on December 31, 2012.
Effective January 1, 2013, the first paragraph in the sub-section “Leadership and Structure of the Board” within the section “Management of the Trusts” is hereby replaced with the following:
The Board is led by the Chairperson of the Board, who is an Independent Trustee. The Board of Trustees of Natixis Funds Trust I, Natixis Funds Trust IV, Loomis Sayles Funds I, Loomis Sayles Funds II, Gateway Trust and Hansberger International Series currently consists of thirteen trustees, ten of whom are Independent Trustees. The Board of Trustees of Natixis Funds Trust II currently consists of thirteen trustees, nine of whom are Independent Trustees. The trustees have delegated significant oversight authority to the two standing committees of the Trust, the Audit Committee and Contract Review and Governance Committee. The Audit Committee consists solely of Independent Trustees. These committees meet separately and at times jointly, with the joint meetings intended to educate and involve all Independent Trustees in significant committee-level topics. As well as handling matters directly, the committees raise matters to the Board for consideration. In addition to the oversight performed by the committees and the Board, the Chairperson of the Board and the chairpersons of each committee interact frequently with management regarding topics to be considered at Board and committee meetings as well as items arising between meetings. At least once a year the Board reviews its governance structure. The Board believes its leadership structure is appropriate and effective in that it allows for oversight at the committee or board level, as the case may be, while facilitating communications among the trustees and between the Board and Fund management.
Effective January 1, 2013, Edmond J. English has been appointed as a member of the Contract Review and Governance Committee and Erik R. Sirri has resigned from the Contract Review and Governance Committee and has been appointed as a member of the Audit Committee. Accordingly, the list of the members of the Audit Committee and Contract Review and Governance Committee in the sub-section “Leadership and Structure of the Board” within the section “Management of the Trusts” is hereby replaced with the following:
| Audit Committee |
Contract Review and Governance Committee | |
| Kenneth A. Drucker – Chairman |
Daniel M. Cain – Chairman | |
| Wendell J. Knox |
Charles D. Baker | |
| Erik R. Sirri |
Edmond J. English | |
| Cynthia L. Walker |
Martin T. Meehan | |
| Peter J. Smail |
Effective January 1, 2013, the second paragraph in the sub-section “Trustee Fees” within the section “Management of the Trusts” is hereby replaced with the following:
The Chairperson of the Board receives a retainer fee at the annual rate of $285,000. The Chairperson does not receive any meeting attendance fees for Board of Trustees meetings or committee meetings that she attends. Each Independent Trustee (other than the Chairperson) receives, in the aggregate, a retainer fee at the annual rate of $115,000. Each Independent Trustee also receives a meeting attendance fee of $10,000 for each meeting of the Board of Trustees that he or she attends in person and $5,000 for each meeting of the Board of Trustees that he or she attends telephonically. In addition, each committee chairman receives an additional retainer fee at the annual rate of $17,500. Each Contract Review and Governance Committee and Audit Committee member is compensated $6,000 for each Committee meeting that he or she attends in person and $3,000 for each committee meeting that he or she attends telephonically. These fees are allocated among the mutual fund portfolios in the Natixis Funds Trusts, Loomis Sayles Funds Trusts, Hansberger International Series and Gateway Trust based on a formula that takes into account, among other factors, the relative net assets of each mutual fund portfolio.
As of December 31, 2011, Mr. English owned shares of Funds overseen by the Board of Trustees for the Natixis Funds, Loomis Sayles Funds and Hansberger International Series. Accordingly, the following is hereby added to the table located in the sub-section “Fund Securities Owned by the Trustees” within the section “Management of the Trusts”:
Independent Trustees
| Dollar Range of Fund Shares* |
Edmond J. English | |
| Loomis Sayles Bond Fund |
A | |
| Loomis Sayles Global Bond Fund |
A | |
| Loomis Sayles Inflation Protected Securities Fund |
A | |
| Loomis Sayles Intermediate Duration Bond Fund |
A | |
| Loomis Sayles Small Cap Growth Fund |
A | |
| Loomis Sayles Small Cap Value Fund |
A | |
| Aggregate Dollar Range of Fund Shares in All Funds Overseen by Trustee in the Fund Complex |
E |
| * | A. None |
| B. $1 – 10,000 |
| C. $10,001 – $50,000 |
| D. $50,001 – $100,000 |
| E. over $100,000 |