Exhibit 77M

After the close of business on October 26, 2007, the
Loomis Sayles Value Fund ("Value Fund")
acquired all of the assets and liabilities of Natixis
Value Fund, pursuant to a plan of reorganization
approved by Natixis Value Fund shareholders on
October 12, 2007.  The acquisition was
accomplished by a tax-free exchange of 4,677,827
Class A shares of the Value Fund for 14,004,395
shares of the Natixis Value Fund Class A; 653,035
Class B shares of the Value Fund for 2,297,374
shares of the Natixis Value Fund Class B; and
127,550 Class C shares of the Value Fund for
448,235 shares of the Natixis Value Fund Class C.
Natixis Value Fund net assets at that date of
$122,515,367, including $13,382,872 of net
unrealized appreciation, were combined with those
of the Value Fund.  The aggregate net assets of the
Value Fund immediately before the acquisition
were $200,528,438.  The combined net assets of the
Value Fund immediately following the acquisition
were $323,043,805.