SUB-ITEM 77D(i): Policies with Respect to Security
Investments


Effective August 14, 2008, each Fund may also invest in
swaps (including credit default swaps) and other
derivatives. As a means of limiting the risks associated with
the use of CDS, Loomis Sayles will internally limit the
aggregate notional value of all outstanding CDS used for
non-hedging purposes to 20% of the total assets of a Fund,
as measured at the time of the transaction.