Natixis Funds Trust IV N-CSRS Certified semi-annual shareholder report (management investment company)

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number: 811-09945

Natixis Funds Trust IV

(Exact name of registrant as specified in charter)

888 Boylston Street, Suite 800,

Boston, Massachusetts 02199-8197

(Address of principal executive offices) (Zip code)

Russell L. Kane, Esq.

NGAM Distribution, L.P.

888 Boylston Street, Suite 800

Boston, Massachusetts 02199-8197

(Name and address of agent for service)

Registrant’s telephone number, including area code: (617) 449-2822

Date of fiscal year end: January 31

Date of reporting period: July 31, 2017

Item 1. Report to Stockholders.

The Registrant’s semi-annual report transmitted to shareholders pursuant to Rule 30e-1 under the Investment Company Act of 1940 is as follows:

SEMIANNUAL REPORT

July 31, 2017

AEW Real Estate Fund

TABLE OF CONTENTS

Portfolio Review  page 1

Portfolio of Investments  page 11

Financial Statements  page  14

Notes to Financial Statements  page 21

Shareholder Supplement  enclosed

AEW REAL ESTATE FUND

Managers	Symbols
Matthew A. Troxell, CFA®	Class A    NRFAX
J. Hall Jones, Jr., CFA®	Class C    NRCFX
Gina Szymanski, CFA®	Class N    NRFNX
AEW Capital Management, L.P.	Class Y    NRFYX

Investment Goal

The Fund seeks to provide investors with above-average income and long-term growth of capital.

1  |

Average Annual Total Returns—July 31, 2017³

																Expense Ratios4
	6 Months			1 Year			5 Years			10 Years			Life of Class N			Gross			Net
Class Y (Inception 8/31/00)
NAV		3.64	%		-5.10	%		8.58	%		6.73	%		—	%		1.13	%		1.00	%
Class A (Inception 12/29/00)
NAV		3.54			-5.32			8.30			6.45			—			1.38			1.25
With 5.75% Maximum Sales Charge		-2.44			-10.78			7.03			5.82			—
Class C (Inception 12/29/00)
NAV		3.16			-6.06			7.50			5.66			—			2.13			2.00
With CDSC1		2.16			-6.94			7.50			5.66			—
Class N (Inception 5/01/13)
NAV		3.69			-5.04			—			—			7.06			0.97			0.95
Comparative Performance
MSCI U.S. REIT Index2		3.98			-4.58			9.23			6.96			7.35

Performance data shown represents past performance and is no guarantee of, and not necessarily indicative of, future results. Total return and value will vary, and you may have a gain or loss when shares are sold. Current performance may be lower or higher than quoted. For most recent month-end performance, visit ngam.natixis.com/performance. Performance for other share classes will be greater or less than shown based on differences in fees and sales charges. You may not invest directly in an index. Performance for periods less than one year is cumulative, not annualized. Returns reflect changes in share price and reinvestment of dividends and capital gains, if any. The table(s) do not reflect taxes shareholders might owe on any fund distributions or when they redeem their shares.

1 Class C share performance assumes a 1.00% CDSC applied when you sell shares within one year of purchase.

2 MSCI U.S. REIT Index is an unmanaged index that is composed of the most actively traded equity REIT (real estate investment trust) securities.

3 For certain periods, Fund performance has been increased by fee waivers and/or expense reimbursements, without which performance would have been lower.

4 Expense ratios are as shown in the Fund’s prospectus in effect as of the date of this report. The expense ratios for the current reporting period can be found in the Financial Highlights section of this report under Ratios to Average Net Assets. Net expenses reflect contractual expense caps set to expire on 4/30/19. When a Fund’s expenses are below the cap, gross and net expense ratios will be the same. See Note 5 of the Notes to Financial Statements for more information about the Fund’s expense caps.

|  2

ADDITIONAL INFORMATION

All investing involves risk, including the risk of loss. There is no assurance that any investment will meet its performance objectives or that losses will be avoided.

ADDITIONAL INDEX INFORMATION

This document may contain references to third party copyrights, indexes, and trademarks, each of which is the property of its respective owner. Such owner is not affiliated with Natixis Global Asset Management or any of its related or affiliated companies (collectively “NGAM”) and does not sponsor, endorse or participate in the provision of any NGAM services, funds or other financial products.

The index information contained herein is derived from third parties and is provided on an “as is” basis. The user of this information assumes the entire risk of use of this information. Each of the third party entities involved in compiling, computing or creating index information disclaims all warranties (including, without limitation, any warranties of originality, accuracy, completeness, timeliness, non-infringement, merchantability and fitness for a particular purpose) with respect to such information.

PROXY VOTING INFORMATION

A description of the Natixis Funds proxy voting policies and procedures is available without charge, upon request, by calling Natixis Funds at 800-225-5478; on Natixis Funds’ website at ngam.natixis.com; and on the Securities and Exchange Commission’s (SEC) website at www.sec.gov. Information regarding how Natixis Funds voted proxies relating to portfolio securities during the most recent 12-month period ended June 30 is available on the Natixis Fund’s website and the SEC’s website.

QUARTERLY PORTFOLIO SCHEDULES

The Natixis Funds file complete schedules of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-Q. The Fund’s Forms N-Q are available on the SEC’s website at www.sec.gov and may be reviewed and copied at the SEC’s Public Reference Room in Washington, D.C. Information on the operation of the Public Reference Room may be obtained by calling 800-SEC-0330.

3  |

UNDERSTANDING FUND EXPENSES

As a mutual fund shareholder, you incur different costs: transaction costs, including sales charges (loads) on purchases and contingent deferred sales charges on redemptions, and ongoing costs, including management fees, distribution and/or service fees (12b-1 fees), and other fund expenses. Certain exemptions may apply. These costs are described in more detail in the Fund’s prospectus. The following examples are intended to help you understand the ongoing costs of investing in the Fund and help you compare these with the ongoing costs of investing in other mutual funds.

The first line in the table of each class of Fund shares shows the actual account values and actual Fund expenses you would have paid on a $1,000 investment in the Fund from February 1, 2017 through July 31, 2017. To estimate the expenses you paid over the period, simply divide your account value by $1,000 (for example, $8,600 account value divided by $1,000 = 8.60) and multiply the result by the number in the Expenses Paid During Period column as shown below for your class.

The second line in the table of each class of Fund shares provides information about hypothetical account values and hypothetical expenses based on the Fund’s actual expense ratios and an assumed rate of return of 5% per year before expenses, which is not the Fund’s actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid on your investment for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.

Please note that the expenses shown reflect ongoing costs only, and do not include any transaction costs, such as sales charges. Therefore, the second line in the table is useful in comparing ongoing costs only, and will not help you determine the relative costs of owning different funds. If transaction costs were included, total costs would be higher.

|  4

AEW REAL ESTATE FUND	BEGINNING ACCOUNT VALUE 2/1/2017		ENDING ACCOUNT VALUE 7/31/2017		EXPENSES PAID DURING PERIOD* 2/1/2017 – 7/31/2017
Class A
Actual		$1,000.00		$1,035.40		$6.71
Hypothetical (5% return before expenses)		$1,000.00		$1,018.20		$6.66
Class C
Actual		$1,000.00		$1,031.60		$10.53
Hypothetical (5% return before expenses)		$1,000.00		$1,014.43		$10.44
Class N
Actual		$1,000.00		$1,036.90		$5.00
Hypothetical (5% return before expenses)		$1,000.00		$1,019.89		$4.96
Class Y
Actual		$1,000.00		$1,036.40		$5.45
Hypothetical (5% return before expenses)		$1,000.00		$1,019.44		$5.41

* Expenses are equal to the Fund’s annualized expense ratio (after waiver/reimbursement): 1.33%, 2.09%, 0.99% and 1.08% for Class A, C, N and Y, respectively, multiplied by the average account value over the period, multiplied by the number of days in the most recent fiscal half-year (181), divided by 365 (to reflect the half-year period).

5  |

BOARD APPROVAL OF THE EXISTING ADVISORY AGREEMENT

The Board of Trustees of the Trust (the “Board”), including the Independent Trustees, considers matters bearing on the Fund’s advisory agreement (the “Agreement”) at most of its meetings throughout the year. Each year, usually in the spring, the Contract Review Committee of the Board meets to review the Agreement to determine whether to recommend that the full Board approve the continuation of the Agreement, typically for an additional one-year period. After the Contract Review Committee has made its recommendation, the full Board, including the Independent Trustees, determines whether to approve the continuation of the Agreement.

In connection with these meetings, the Trustees receive materials that the Fund’s investment adviser (the “Adviser”) believes to be reasonably necessary for the Trustees to evaluate the Agreement. These materials generally include, among other items, (i) information on the investment performance of the Fund and the performance of a peer group of funds and the Fund’s performance benchmarks, (ii) information on the Fund’s advisory fee and other expenses, including information comparing the Fund’s expenses to the fees charged to institutional accounts with similar strategies managed by the Adviser, if any, and to those of a peer group of funds and information about any applicable expense caps and/or fee “breakpoints,” (iii) sales and redemption data in respect of the Fund, (iv) information about the profitability of the Agreement to the Adviser and (v) information obtained through the completion by the Adviser of a questionnaire distributed on behalf of the Trustees. The Board, including the Independent Trustees, also considers other matters such as (i) the Adviser’s financial results and financial condition, (ii) the Fund’s investment objective and strategies and the size, education and experience of the Adviser’s investment staff and its use of technology, external research and trading cost measurement tools, (iii) arrangements in respect of the distribution of the Fund’s shares and the related costs, (iv) the allocation of the Fund’s brokerage, if any, including, if applicable, allocations to brokers affiliated with the Adviser and the use of “soft” commission dollars to pay Fund expenses and to pay for research and other similar services, (v) the resources devoted to, and the record of compliance with, the Fund’s investment policies and restrictions, policies on personal securities transactions and other compliance policies, (vi) the Adviser’s policies and procedures relating to, among other things, compliance, trading and best execution, proxy voting and valuation, (vii) information about amounts invested by the Fund’s portfolio managers in the Fund or in similar accounts that they manage and (viii) the general economic outlook with particular emphasis on the mutual fund industry. Throughout the process, the Trustees are afforded the opportunity to ask questions of and request additional materials from the Adviser.

In addition to the materials requested by the Trustees in connection with their annual consideration of the continuation of the Agreement, the Trustees receive materials in advance of each regular quarterly meeting of the Board that provide detailed information about the Fund’s investment performance and the fees charged to the Fund for advisory and other services. This information generally includes, among other things, an internal performance rating for the Fund based on agreed-upon criteria, graphs showing the Fund’s performance and fee differentials against the Fund’s peer group/category, performance

|  6

ratings provided by a third-party, total return information for various periods, and third-party performance rankings for various periods comparing the Fund against similarly categorized funds. The portfolio management team for the Fund or other representatives of the Adviser make periodic presentations to the Contract Review Committee and/or the full Board, and if the Fund is identified as presenting possible performance concerns it may be subject to more frequent board presentations and reviews. In addition, each quarter, the Trustees are provided with detailed statistical information about the Fund’s portfolio. The Trustees also receive periodic updates between meetings.

The Board most recently approved the continuation of the Agreement at its meeting held in June 2017. The Agreement was continued for a one-year period. In considering whether to approve the continuation of the Agreement, the Board, including the Independent Trustees, did not identify any single factor as determinative. Individual Trustees may have evaluated the information presented differently from one another, giving different weights to various factors. Matters considered by the Trustees, including the Independent Trustees, in connection with their approval of the Agreement included, but were not limited to, the factors listed below.

The nature, extent and quality of the services provided to the Fund under the Agreement. The Trustees considered the nature, extent and quality of the services provided by the Adviser and its affiliates to the Fund and the resources dedicated to the Fund by the Adviser and its affiliates.

The Trustees considered not only the advisory services provided by the Adviser to the Fund, but also the monitoring and oversight services provided by NGAM Advisors, L.P. (“NGAM Advisors”). They also considered the administrative services provided by NGAM Advisors and its affiliates to the Fund.

The Trustees also considered the benefits to shareholders of investing in a mutual fund that is part of a family of funds that offers shareholders the right to exchange shares of one type of fund for shares of another type of fund, and provides a variety of fund and shareholder services.

After reviewing these and related factors, the Trustees concluded, within the context of their overall conclusions regarding the Agreement, that the nature, extent and quality of services provided supported the renewal of the Agreement.

Investment performance of the Fund and the Adviser. As noted above, the Trustees received information about the performance of the Fund over various time periods, including information that compared the performance of the Fund to the performance of a peer group and category of funds and the Fund’s performance benchmark. In addition, the Trustees also reviewed data prepared by an independent third party that analyzed the performance of the Fund using a variety of performance metrics, including metrics that also measured the performance of the Fund on a risk adjusted basis.

7  |

The Board noted that, through December 31, 2016, the Fund’s one- and three-year performance, stated as percentile rankings within categories selected by the independent third-party data provider was as follows (where the best performance would be in the first percentile of its category):

	One-Year			Three-Year
AEW Real Estate Fund		67	%		35	%

The Board noted that the Fund’s performance lagged that of the Fund’s category group median as determined by the independent third-party for certain (although not all) periods. The Board concluded that other factors relevant to performance supported renewal of the Agreements, including that the underperformance was attributable, to a significant extent, to investment decisions (such as security selection or sector allocation) by the Adviser that were reasonable and consistent with the Fund’s investment objective and policies.

The Trustees also considered the Adviser’s performance and reputation generally, the performance of the fund family generally, and the historical responsiveness of the Adviser to Trustee concerns about performance and the willingness of the Adviser to take steps intended to improve performance.

After reviewing these and related factors, the Trustees concluded, within the context of their overall conclusions regarding the Agreement, that the performance of the Fund and the Adviser and/or other relevant factors supported the renewal of the Agreement.

The costs of the services to be provided and profits to be realized by the Adviser and its affiliates from their respective relationships with the Fund. The Trustees considered the fees charged to the Fund for advisory services as well as the total expense level of the Fund. This information included comparisons (provided both by management and also by an independent third-party) of the Fund’s advisory fee and total expense level to those of its peer group and information about the advisory fees charged by the Adviser to comparable accounts (such as institutional separate accounts), as well as information about differences in such fees and the reasons for any such differences. In considering the fees charged to comparable accounts, the Trustees considered, among other things, management’s representations about the differences between managing mutual funds as compared to other types of accounts, including the additional resources required to effectively manage mutual fund assets and the greater regulatory costs associated with the management of such assets. In evaluating the Fund’s advisory fee, the Trustees also took into account the demands, complexity and quality of the investment management of the Fund and the need for the Adviser to offer competitive compensation and the potential need to expend additional resources to the extent the Fund grows in size. The Trustees considered that over the past several years, management had made recommendations regarding reductions in advisory fee rates, implementation of advisory fee breakpoints and the institution of advisory fee waivers and expense caps for various funds in the fund family. They noted that the Fund has an expense cap in place, and they considered the amounts waived or reimbursed by the Adviser for the Fund, which had current expenses above the cap.

The Trustees noted that the Fund had a total advisory fee rate that was slightly above the median of a peer group of funds. In this regard, the Trustees considered the factors which management believed justified the advisory fee rate, including: (1) that the Fund’s fee rate

|  8

was only one basis point above the median of the Fund’s peer group; and (2) that management had proposed to reduce the Fund’s expense cap.

The Trustees also considered the compensation directly or indirectly received by the Adviser and its affiliates from their relationships with the Fund. The Trustees reviewed information provided by management as to the profitability of the Adviser’s and its affiliates’ relationships with the Fund, and information about the allocation of expenses used to calculate profitability. They also reviewed information provided by management about the effect of distribution costs and changes in asset levels on Adviser profitability, including information regarding resources spent on distribution activities. When reviewing profitability, the Trustees also considered information about court cases in which adviser compensation or profitability were issues, the performance of the Fund, the expense levels of the Fund, and whether the Adviser had implemented breakpoints and/or expense caps with respect to the Fund.

After reviewing these and related factors, the Trustees concluded, within the context of their overall conclusions regarding the Agreement, that the advisory fee charged to the Fund was fair and reasonable, and that the costs of these services generally and the related profitability of the Adviser and its affiliates in respect of their relationships with the Fund supported the renewal of the Agreement.

Economies of Scale. The Trustees considered the existence of any economies of scale in the provision of services by the Adviser and whether those economies are shared with the Fund through breakpoints in its investment advisory fee or other means, such as expense waivers or caps. The Trustees also discussed with management the factors considered with respect to the implementation of breakpoints in investment advisory fees or expense waivers or caps for certain funds. Management explained that a number of factors are taken into account in considering the possible implementation of breakpoints or an expense cap for a fund, including, among other things, factors such as a fund’s assets, the projected growth of a fund, projected profitability and a fund’s fees and performance. With respect to economies of scale, the Trustees noted that the Fund had breakpoints in its advisory fee and was subject to an expense cap or waiver. The Trustees considered management’s proposal to reduce the Fund’s expense cap. In considering these issues, the Trustees also took note of the costs of the services provided (both on an absolute and on a relative basis) and the profitability to the Adviser and its affiliates of their relationships with the Fund, as discussed above.

After reviewing these and related factors, the Trustees concluded, within the context of their overall conclusions regarding the Agreement, that the extent to which economies of scale were shared with the Fund supported the renewal of the Agreement.

The Trustees also considered other factors, which included but were not limited to the following:

· The effect of recent market and economic events on the performance, asset levels and expense ratios of the Fund.

· Whether the Fund has operated in accordance with its investment objective and the Fund’s record of compliance with its investment restrictions, and the compliance programs of the Fund and the Adviser. They also considered the compliance-related resources the Adviser and its affiliates were providing to the Fund.

9  |

· The nature, quality, cost and extent of administrative and shareholder services performed by the Adviser and its affiliates, both under the Agreement and under a separate agreement covering administrative services.

· So-called “fallout benefits” to the Adviser, such as the engagement of affiliates of the Adviser to provide distribution, administrative and brokerage services to the Fund, and the benefits of research made available to the Adviser by reason of brokerage commissions (if any) generated by the Fund’s securities transactions. The Trustees also considered the benefits to the parent company of NGAM Advisors from the retention of the Adviser. The Trustees considered the possible conflicts of interest associated with these fallout and other benefits, and the reporting, disclosure and other processes in place to disclose and monitor such possible conflicts of interest.

· The Trustees’ review and discussion of the Fund’s advisory arrangements in prior years, and management’s record of responding to Trustee concerns raised during the year and in prior years.

Based on their evaluation of all factors that they deemed to be material, including those factors described above, and assisted by the advice of independent counsel, the Trustees, including the Independent Trustees, concluded that the existing Agreement, with the reduction in the Fund’s expense cap described above, should be continued through June 30, 2018.

|  10

Portfolio of Investments – as of July 31, 2017 (Unaudited)

AEW Real Estate Fund

Shares		Description	Value (†)
	Common Stocks — 99.1% of Net Assets
	Lodging — 2.2%
	188,000	Extended Stay America, Inc.	$	3,716,760
	Real Estate — 0.6%
	25,600	Alexander & Baldwin, Inc.		1,073,408
	Real Estate Investment Trusts — 96.3%
		REITs – Apartments — 18.1%
	55,000	American Campus Communities, Inc.		2,636,700
	158,000	American Homes 4 Rent, Class A		3,635,580
	48,800	AvalonBay Communities, Inc.		9,386,680
	53,000	Camden Property Trust		4,754,100
	150,000	Equity Residential		10,209,000
				30,622,060
		REITs – Diversified — 10.3%
	88,300	American Assets Trust, Inc.		3,585,863
	13,000	Digital Realty Trust, Inc.		1,499,420
	98,500	DuPont Fabros Technology, Inc.		6,139,505
	112,700	Forest City Realty Trust, Inc., Class A		2,747,626
	18,100	Vornado Realty Trust		1,436,235
	61,400	Washington Real Estate Investment Trust		2,052,602
				17,461,251
		REITs – Health Care — 11.2%
	77,200	Healthcare Trust of America, Inc., Class A		2,361,548
	106,500	Ventas, Inc.		7,172,775
	128,400	Welltower, Inc.		9,423,276
				18,957,599
		REITs – Hotels — 4.5%
	289,900	Host Hotels & Resorts, Inc.		5,409,534
	101,400	RLJ Lodging Trust		2,145,624
				7,555,158
		REITs – Manufactured Homes — 1.4%
	26,400	Equity Lifestyle Properties, Inc.		2,304,720
		REITs – Office Property — 11.0%
	70,000	Boston Properties, Inc.		8,463,700
	60,200	Douglas Emmett, Inc.		2,303,252
	148,000	Empire State Realty Trust, Inc., Class A		3,091,720
	221,300	Piedmont Office Realty Trust, Inc., Class A		4,649,513
				18,508,185
		REITs – Regional Malls — 11.3%
	130,800	Pennsylvania Real Estate Investment Trust		1,555,212
	92,700	Simon Property Group, Inc.		14,692,950
	49,100	Taubman Centers, Inc.		2,792,317
				19,040,479

See accompanying notes to financial statements.

11  |

Portfolio of Investments – as of July 31, 2017 (Unaudited)

AEW Real Estate Fund – (continued)

Shares		Description	Value (†)
		REITs – Shopping Centers — 7.1%
	77,000	Acadia Realty Trust	$	2,289,980
	137,400	DDR Corp.		1,400,106
	29,500	Federal Realty Investment Trust		3,912,585
	238,200	Retail Properties of America, Inc., Class A		3,151,386
	46,300	Tanger Factory Outlet Centers, Inc.		1,223,709
				11,977,766
		REITs – Single Tenant — 5.2%
	87,788	Easterly Government Properties, Inc.		1,754,882
	159,100	Gramercy Property Trust		4,808,002
	93,800	STORE Capital Corp.		2,193,982
				8,756,866
		REITs – Storage — 6.3%
	155,500	CubeSmart		3,834,630
	33,200	Public Storage		6,824,924
				10,659,554
		REITs – Warehouse/Industrials — 9.9%
	192,000	ProLogis, Inc.		11,675,520
	179,900	Rexford Industrial Realty, Inc.		5,130,748
				16,806,268
		Total Real Estate Investment Trusts		162,649,906
		Total Common Stocks (Identified Cost $140,186,944)		167,440,074
Principal Amount
	Short-Term Investments — 0.9%
$	1,475,830	Tri-Party Repurchase Agreement with Fixed Income Clearing Corporation, dated 7/31/2017 at 0.340% to be repurchased at $1,475,844 on 8/01/2017 collateralized by $1,505,000 U.S. Treasury Note, 2.125% due 5/15/2025 valued at $1,506,272 including accrued interest (Note 2 of Notes to Financial Statements) (Identified Cost $1,475,830)		1,475,830
		Total Investments — 100.0% (Identified Cost $141,662,774)(a)		168,915,904
		Other Assets Less Liabilities — (0.0)%		(11,416	)
		Net Assets — 100.0%	$	168,904,488
	(†)	See Note 2 of Notes to Financial Statements.

See accompanying notes to financial statements.

|  12

Portfolio of Investments – as of July 31, 2017 (Unaudited)

AEW Real Estate Fund – (continued)

(a)	Federal Tax Information (Amounts exclude certain adjustments that will be made at the end of the Fund’s fiscal year for tax purposes. Such adjustments are primarily due to wash sales.):
	At July 31, 2017, the net unrealized appreciation on investments based on a cost of $141,662,774 for federal income tax purposes was as follows:
	Aggregate gross unrealized appreciation for all investments in which there is an excess of value over tax cost	$	30,596,810
	Aggregate gross unrealized depreciation for all investments in which there is an excess of tax cost over value		(3,343,680	)
	Net unrealized appreciation	$	27,253,130
REITs	Real Estate Investment Trusts

Industry Summary at July 31, 2017 (Unaudited)

REITs – Apartments	18.1	%
REITs – Regional Malls	11.3
REITs – Health Care	11.2
REITs – Office Property	11.0
REITs – Diversified	10.3
REITs – Warehouse/Industrials	9.9
REITs – Shopping Centers	7.1
REITs – Storage	6.3
REITs – Single Tenant	5.2
REITs – Hotels	4.5
Lodging	2.2
Other Investments, less than 2% each	2.0
Short-Term Investments	0.9
Total Investments	100.0
Other assets less liabilities	(0.0	)
Net Assets	100.0	%

See accompanying notes to financial statements.

13  |

Statement of Assets and Liabilities

July 31, 2017 (Unaudited)

ASSETS
Investments at cost	$	141,662,774
Net unrealized appreciation		27,253,130
Investments at value		168,915,904
Receivable for Fund shares sold		94,213
Receivable for securities sold		325,770
Dividends and interest receivable		16,899
Prepaid expenses (Note 7)		304
TOTAL ASSETS		169,353,090
LIABILITIES
Payable for securities purchased		36,257
Payable for Fund shares redeemed		118,030
Management fees payable (Note 5)		91,335
Deferred Trustees’ fees (Note 5)		114,668
Administrative fees payable (Note 5)		5,909
Payable to distributor (Note 5d)		3,890
Other accounts payable and accrued expenses		78,513
TOTAL LIABILITIES		448,602
NET ASSETS	$	168,904,488
NET ASSETS CONSIST OF:
Paid-in capital	$	135,350,586
Distributions in excess of net investment income		(174,067	)
Accumulated net realized gain on investments		6,474,839
Net unrealized appreciation on investments		27,253,130
NET ASSETS	$	168,904,488
COMPUTATION OF NET ASSET VALUE AND OFFERING PRICE:
Class A shares:
Net assets	$	51,987,958
Shares of beneficial interest		3,237,499
Net asset value and redemption price per share	$	16.06
Offering price per share (100/94.25 of net asset value) (Note 1)	$	17.04
Class C shares: (redemption price per share is equal to net asset value less any applicable contingent deferred sales charge) (Note 1)
Net assets	$	5,367,464
Shares of beneficial interest		333,405
Net asset value and offering price per share	$	16.10
Class N shares:
Net assets	$	6,930,475
Shares of beneficial interest		460,355
Net asset value, offering and redemption price per share	$	15.05
Class Y shares:
Net assets	$	104,618,591
Shares of beneficial interest		6,964,379
Net asset value, offering and redemption price per share	$	15.02

See accompanying notes to financial statements.

|  14

Statement of Operations

For the Six Months Ended July 31, 2017 (Unaudited)

INVESTMENT INCOME
Dividends	$	2,395,089
Interest		6,851
		2,401,940
Expenses
Management fees (Note 5)		707,923
Service and distribution fees (Note 5)		98,602
Administrative fees (Note 5)		39,519
Trustees’ fees and expenses (Note 5)		20,271
Transfer agent fees and expenses (Notes 5 and 6)		151,756
Audit and tax services fees		33,834
Custodian fees and expenses		6,379
Legal fees		2,506
Registration fees		25,285
Shareholder reporting expenses		28,795
Miscellaneous expenses (Note 7)		9,436
Total expenses		1,124,306
Less waiver and/or expense reimbursement (Note 5)		(69,806	)
Net expenses		1,054,500
Net investment income		1,347,440
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS
Net realized gain on:
Investments		6,364,140
Capital gain distributions received (Note 2)		629,139
Net change in unrealized appreciation (depreciation) on:
Investments		(2,078,506	)
Net realized and unrealized gain on investments		4,914,773
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS	$	6,262,213

See accompanying notes to financial statements.

15  |

Statement of Changes in Net Assets

	Six Months Ended July 31, 2017 (Unaudited)			Year Ended January 31, 2017
FROM OPERATIONS:
Net investment income	$	1,347,440		$	2,492,917
Net realized gain on investments		6,993,279			13,315,487
Net change in unrealized appreciation (depreciation) on investments		(2,078,506	)		2,663,353
Net increase in net assets resulting from operations		6,262,213			18,471,757
FROM DISTRIBUTIONS TO SHAREHOLDERS:
Net investment income
Class A		(327,503	)		(1,343,243	)
Class C		(11,415	)		(115,014	)
Class N		(55,130	)		(155,605	)
Class Y		(852,002	)		(3,444,736	)
Net realized capital gains
Class A		(831,331	)		(4,481,543	)
Class C		(96,459	)		(585,360	)
Class N		(101,854	)		(438,036	)
Class Y		(1,765,035	)		(10,223,262	)
Total distributions		(4,040,729	)		(20,786,799	)
NET DECREASE IN NET ASSETS FROM CAPITAL SHARE TRANSACTIONS (NOTE 11)		(31,247,000	)		(8,502,935	)
Net decrease in net assets		(29,025,516	)		(10,817,977	)
NET ASSETS
Beginning of the period		197,930,004			208,747,981
End of the period	$	168,904,488		$	197,930,004
DISTRIBUTIONS IN EXCESS OF NET INVESTMENT INCOME	$	(174,067	)	$	(275,457	)

See accompanying notes to financial statements.

|  16

Financial Highlights

For a share outstanding throughout each period.

	Class A
	Six Months Ended July 31, 2017 (Unaudited)			Year Ended January 31, 2017			Year Ended January 31, 2016			Year Ended January 31, 2015			Year Ended January 31, 2014			Year Ended January 31, 2013
Net asset value, beginning of the period	$	15.84		$	15.93		$	18.51		$	15.20		$	19.20		$	18.64
INCOME (LOSS) FROM INVESTMENT OPERATIONS:
Net investment income(a)		0.11			0.18			0.22			0.20			0.19			0.21
Net realized and unrealized gain (loss)		0.44			1.33			(1.33	)		4.57			0.06			2.11
Total from Investment Operations		0.55			1.51			(1.11	)		4.77			0.25			2.32
LESS DISTRIBUTIONS FROM:
Net investment income		(0.10	)		(0.22	)		(0.18	)		(0.20	)		(0.25	)		(0.17	)
Net realized capital gains		(0.23	)		(1.38	)		(1.29	)		(1.26	)		(4.00	)		(1.59	)
Total Distributions		(0.33	)		(1.60	)		(1.47	)		(1.46	)		(4.25	)		(1.76	)
Net asset value, end of the period	$	16.06		$	15.84		$	15.93		$	18.51		$	15.20		$	19.20
Total return(b)		3.54	%(c)(d)		9.51	%(d)		(6.21	)%(d)		32.94	%		1.96	%		12.92	%
RATIOS TO AVERAGE NET ASSETS:
Net assets, end of the period (000’s)	$	51,988		$	58,312		$	56,344		$	77,842		$	68,470		$	71,202
Net expenses		1.33	%(e)(f)(g)		1.35	%(f)		1.36	%(f)(h)		1.40	%(i)		1.36	%		1.31	%
Gross expenses		1.42	%(e)		1.38	%		1.38	%		1.40	%		1.36	%		1.31	%
Net investment income		1.38	%(e)		1.06	%		1.31	%		1.23	%		1.00	%		1.07	%
Portfolio turnover rate		3	%		13	%		17	%		18	%		17	%		35	%

(a) Per share net investment income has been calculated using the average shares outstanding during the period.

(b) A sales charge for Class A shares is not reflected in total return calculations.

(c) Periods less than one year are not annualized.

(d) Had certain expenses not been waived/reimbursed during the period, total returns would have been lower.

(e) Computed on an annualized basis for periods less than one year.

(f) The investment adviser agreed to waive its fees and/or reimburse a portion of the Fund’s expenses during the period. Without this waiver/reimbursement, expenses would have been higher.

(g) Effective July 1, 2017, the expense limit decreased from 1.35% to 1.25%.

(h) Effective May 1, 2015, the expense limit decreased from 1.40% to 1.35%.

(i) Effective July 1, 2014, the expense limit decreased from 1.50% to 1.40%.

See accompanying notes to financial statements.

17  |

Financial Highlights (continued)

For a share outstanding throughout each period.

	Class C
	Six Months Ended July 31, 2017 (Unaudited)			Year Ended January 31, 2017			Year Ended January 31, 2016			Year Ended January 31, 2015			Year Ended January 31, 2014			Year Ended January 31, 2013
Net asset value, beginning of the period	$	15.87		$	15.95		$	18.55		$	15.23		$	19.23		$	18.67
INCOME (LOSS) FROM INVESTMENT OPERATIONS:
Net investment income(a)		0.05			0.06			0.09			0.08			0.05			0.06
Net realized and unrealized gain (loss)		0.44			1.33			(1.33	)		4.58			0.05			2.13
Total from Investment Operations		0.49			1.39			(1.24	)		4.66			0.10			2.19
LESS DISTRIBUTIONS FROM:
Net investment income		(0.03	)		(0.09	)		(0.07	)		(0.08	)		(0.10	)		(0.04	)
Net realized capital gains		(0.23	)		(1.38	)		(1.29	)		(1.26	)		(4.00	)		(1.59	)
Total Distributions		(0.26	)		(1.47	)		(1.36	)		(1.34	)		(4.10	)		(1.63	)
Net asset value, end of the period	$	16.10		$	15.87		$	15.95		$	18.55		$	15.23		$	19.23
Total return(b)		3.16	%(c)(d)		8.67	%(d)		(6.87	)%(d)		31.95	%		1.14	%		12.13	%
RATIOS TO AVERAGE NET ASSETS:
Net assets, end of the period (000’s)	$	5,367		$	7,307		$	7,869		$	10,432		$	8,982		$	11,158
Net expenses		2.09	%(e)(f)(g)		2.10	%(f)		2.11	%(f)(h)		2.15	%(i)		2.11	%		2.06	%
Gross expenses		2.16	%(e)		2.13	%		2.13	%		2.15	%		2.11	%		2.06	%
Net investment income		0.63	%(e)		0.34	%		0.55	%		0.48	%		0.27	%		0.32	%
Portfolio turnover rate		3	%		13	%		17	%		18	%		17	%		35	%

(a) Per share net investment income has been calculated using the average shares outstanding during the period.

(b) A contingent deferred sales charge for Class C shares is not reflected in total return calculations.

(c) Periods less than one year are not annualized.

(d) Had certain expenses not been waived/reimbursed during the period, total returns would have been lower.

(e) Computed on an annualized basis for periods less than one year.

(f) The investment adviser agreed to waive its fees and/or reimburse a portion of the Fund’s expenses during the period. Without this waiver/reimbursement, expenses would have been higher.

(g) Effective July 1, 2017, the expense limit decreased from 2.10% to 2.00%.

(h) Effective May 1, 2015, the expense limit decreased from 2.15% to 2.10%.

(i) Effective July 1, 2014, the expense limit decreased from 2.25% to 2.15%.

See accompanying notes to financial statements.

|  18

Financial Highlights (continued)

For a share outstanding throughout each period.

	Class N
	Six Months Ended July 31, 2017 (Unaudited)			Year Ended January 31, 2017			Year Ended January 31, 2016			Year Ended January 31, 2015			Period Ended January 31, 2014*
Net asset value, beginning of the period	$	14.87		$	15.05		$	17.57		$	14.48		$	19.88
INCOME (LOSS) FROM INVESTMENT OPERATIONS:
Net investment income (loss)(a)		0.13			0.22			(0.17	)(b)		0.25			0.15
Net realized and unrealized gain (loss)		0.40			1.27			(0.81	)		4.35			(1.64	)
Total from Investment Operations		0.53			1.49			(0.98	)		4.60			(1.49	)
LESS DISTRIBUTIONS FROM:
Net investment income		(0.12	)		(0.29	)		(0.25	)		(0.25	)		(0.22	)
Net realized capital gains		(0.23	)		(1.38	)		(1.29	)		(1.26	)		(3.69	)
Total Distributions		(0.35	)		(1.67	)		(1.54	)		(1.51	)		(3.91	)
Net asset value, end of the period	$	15.05		$	14.87		$	15.05		$	17.57		$	14.48
Total return		3.69	%(c)		9.91	%		(5.79	)%(d)		33.48	%(d)		(6.75	)%(c)(d)
RATIOS TO AVERAGE NET ASSETS:
Net assets, end of the period (000’s)	$	6,930		$	6,108		$	4,513		$	1		$	1
Net expenses		0.99	%(e)(f)		0.97	%		0.94	%(g)(h)		0.99	%(g)(i)		1.20	%(e)(g)
Gross expenses		0.99	%(e)		0.97	%		1.01	%		9.79	%		3.14	%(e)
Net investment income (loss)		1.71	%(e)		1.38	%		(1.14	)%(b)		1.60	%		1.14	%(e)
Portfolio turnover rate		3	%		13	%		17	%		18	%		17	%

* From commencement of Class on May 1, 2013 through January 31, 2014.

(a) Per share net investment income (loss) has been calculated using the average shares outstanding during the period.

(b) The net investment loss does not correspond with aggregate net investment income earned by the Fund due to the timing of income earned and expenses accrued in relation to changes in net assets of the Fund during the period.

(c) Periods less than one year are not annualized.

(d) Had certain expenses not been waived/reimbursed during the period, total returns would have been lower.

(e) Computed on an annualized basis for periods less than one year.

(f) Effective July 1, 2017, the expense limit decreased from 1.05% to 0.95%.

(g) The investment adviser agreed to waive its fees and/or reimburse a portion of the Fund’s expenses during the period. Without this waiver/reimbursement, expenses would have been higher.

(h) Effective May 1, 2015, the expense limit decreased from 1.10% to 1.05%.

(i) Effective July 1, 2014, the expense limit decreased from 1.20% to 1.10%.

See accompanying notes to financial statements.

19  |

Financial Highlights (continued)

For a share outstanding throughout each period.

	Class Y
	Six Months Ended July 31, 2017 (Unaudited)			Year Ended January 31, 2017			Year Ended January 31, 2016			Year Ended January 31, 2015			Year Ended January 31, 2014			Year Ended January 31, 2013
Net asset value, beginning of the period	$	14.84		$	15.01		$	17.54		$	14.48		$	18.50		$	18.02
INCOME (LOSS) FROM INVESTMENT OPERATIONS:
Net investment income(a)		0.12			0.21			0.25			0.23			0.23			0.25
Net realized and unrealized gain (loss)		0.41			1.27			(1.27	)		4.33			0.05			2.04
Total from Investment Operations		0.53			1.48			(1.02	)		4.56			0.28			2.29
LESS DISTRIBUTIONS FROM:
Net investment income		(0.12	)		(0.27	)		(0.22	)		(0.24	)		(0.30	)		(0.22	)
Net realized capital gains		(0.23	)		(1.38	)		(1.29	)		(1.26	)		(4.00	)		(1.59	)
Total Distributions		(0.35	)		(1.65	)		(1.51	)		(1.50	)		(4.30	)		(1.81	)
Net asset value, end of the period	$	15.02		$	14.84		$	15.01		$	17.54		$	14.48		$	18.50
Total return		3.64	%(b)(c)		9.78	%(c)		(5.95	)%(c)		33.21	%		2.22	%		13.22	%
RATIOS TO AVERAGE NET ASSETS:
Net assets, end of the period (000’s)	$	104,619		$	126,203		$	140,022		$	176,555		$	130,415		$	281,698
Net expenses		1.08	%(d)(e)(f)		1.10	%(e)		1.11	%(e)(g)		1.15	%(h)		1.10	%		1.06	%
Gross expenses		1.17	%(d)		1.13	%		1.13	%		1.15	%		1.10	%		1.06	%
Net investment income		1.63	%(d)		1.30	%		1.55	%		1.49	%		1.24	%		1.32	%
Portfolio turnover rate		3	%		13	%		17	%		18	%		17	%		35	%

(a) Per share net investment income has been calculated using the average shares outstanding during the period.

(b) Periods less than one year are not annualized.

(c) Had certain expenses not been waived/reimbursed during the period, total returns would have been lower.

(d) Computed on an annualized basis for periods less than one year.

(e) The investment adviser agreed to waive its fees and/or reimburse a portion of the Fund’s expenses during the period. Without this waiver/reimbursement, expenses would have been higher.

(f) Effective July 1, 2017, the expense limit decreased from 1.10% to 1.00%.

(g) Effective May 1, 2015, the expense limit decreased from 1.15% to 1.10%.

(h) Effective July 1, 2014, the expense limit decreased from 1.25% to 1.15%.

See accompanying notes to financial statements.

|  20

Notes to Financial Statements

July 31, 2017 (Unaudited)

1.  Organization.  AEW Real Estate Fund (the “Fund”) is a series of Natixis Funds Trust IV (the “Trust”), and is organized as a Massachusetts business trust. The Trust is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as an open-end management investment company. The Declaration of Trust permits the Board of Trustees to authorize the issuance of an unlimited number of shares of the Trust in multiple series.

The Fund is a diversified investment company.

The Fund offers Class A, Class C, Class N and Class Y shares. As of the close of business on January 11, 2016, Class B shares were converted into Class A shares and are no longer offered. Class T shares of the Fund are not currently available for purchase.

Class A shares are sold with a maximum front-end sales charge of 5.75%. Class C shares do not pay a front-end sales charge, do not convert to any other class of shares, pay higher Rule 12b-1 fees than Class A shares and may be subject to a CDSC of 1.00% if those shares are redeemed within one year of acquisition, except for reinvested distributions. Class N and Class Y shares do not pay a front-end sales charge, a CDSC or Rule 12b-1 fees. Class N shares are offered with an initial minimum investment of $1,000,000. Class Y shares are offered with an initial minimum investment of $100,000. Certain categories of investors are exempted from the minimum investment amounts for Class N and Class Y as outlined in the Fund’s prospectus.

Most expenses can be directly attributed to a Fund. Expenses which cannot be directly attributed to a Fund are generally apportioned based on the relative net assets of each of the funds in Natixis Funds Trust I, Natixis Funds Trust II, Natixis Funds Trust IV, Gateway Trust and Natixis ETF Trust (“Natixis Funds Trusts”), Loomis Sayles Funds I and Loomis Sayles Funds II (“Loomis Sayles Funds Trusts”). Expenses of the Fund are borne pro rata by the holders of each class of shares, except that each class bears expenses unique to that class (such as the Rule 12b-1 fees applicable to Class A and Class C), and transfer agent fees are borne collectively for Class A, Class C and Class Y and individually for Class N. In addition, each class votes as a class only with respect to its own Rule 12b-1 Plan. Shares of each class would receive their pro rata share of the net assets of the Fund if the Fund were liquidated. The Trustees approve separate distributions from net investment income on each class of shares.

2.  Significant Accounting Policies.  The following is a summary of significant accounting policies consistently followed by the Fund in the preparation of its financial statements. The Fund’s financial statements follow the accounting and reporting guidelines provided for investment companies and are prepared in accordance with accounting principles generally accepted in the United States of America which require the use of management estimates that affect the reported amounts and disclosures in the financial statements. Actual results could differ from those estimates. Management has evaluated the events and transactions subsequent to period-end through the date the financial statements were issued and has determined

21  |

Notes to Financial Statements (continued)

July 31, 2017 (Unaudited)

that there were no material events that would require disclosure in the Fund’s financial statements.

a.  Valuation.  Fund securities and other investments are valued at market value based on market quotations obtained or determined by independent pricing services recommended by the adviser and approved by the Board of Trustees. Fund securities and other investments for which market quotations are not readily available are valued at fair value as determined in good faith by the adviser pursuant to procedures approved by the Board of Trustees, as described below. Market value is determined as follows:

Listed equity securities (including shares of closed-end investment companies and exchange-traded funds) are valued at the last sale price quoted on the exchange where they are traded most extensively or, if there is no reported sale during the day, the closing bid quotation as reported by an independent pricing service. Securities traded on the NASDAQ Global Select Market, NASDAQ Global Market and NASDAQ Capital Market are valued at the NASDAQ Official Closing Price (“NOCP”), or if lacking an NOCP, at the most recent bid quotations on the applicable NASDAQ Market. Unlisted equity securities (except unlisted preferred equity securities) are valued at the last sale price quoted in the market where they are traded most extensively or, if there is no reported sale during the day, the closing bid quotation as reported by an independent pricing service. If there is no last sale price or closing bid quotation available, unlisted equity securities will be valued using evaluated bids furnished by an independent pricing service, if available. In some foreign markets, an official close price and a last sale price may be available from the foreign exchange or market. In those cases, the official close price is used. Debt securities and unlisted preferred equity securities are valued based on evaluated bids furnished to the Fund by an independent pricing service or bid prices obtained from broker-dealers. Broker-dealer bid prices may be used to value debt and unlisted equity securities where an independent pricing service is unable to price a security or where an independent pricing service does not provide a reliable price for the security.

Fund securities and other investments for which market quotations are not readily available are valued at fair value as determined in good faith by the adviser pursuant to procedures approved by the Board of Trustees. The Fund may also value securities and other investments at fair value in other circumstances such as when extraordinary events occur after the close of a foreign market but prior to the close of the New York Stock Exchange (“NYSE”). This may include situations relating to a single issuer (such as a declaration of bankruptcy or a delisting of the issuer’s security from the primary market on which it has traded) as well as events affecting the securities markets in general (such as market disruptions or closings and significant fluctuations in U.S. and/or foreign markets). When fair valuing its securities or other investments, the Fund may, among other things, use modeling tools or other processes that may take into account factors such as securities or other market activity and/or significant events that occur after the

|  22

Notes to Financial Statements (continued)

July 31, 2017 (Unaudited)

close of the foreign market and before the time the Fund’s net asset value (“NAV”) is calculated. Fair value pricing may require subjective determinations about the value of a security, and fair values used to determine a Fund’s NAV may differ from quoted or published prices, or from prices that are used by others, for the same securities. In addition, the use of fair value pricing may not always result in adjustments to the prices of securities held by the Fund.

b.  Investment Transactions and Related Investment Income.  Investment transactions are accounted for on a trade date plus one day basis for daily NAV calculation. However, for financial reporting purposes, investment transactions are reported on trade date. Dividend income is recorded on ex-dividend date and interest income is recorded on an accrual basis. Distributions received from investments in securities that represent a return of capital or capital gain are recorded as a reduction of cost of investments or as a realized gain, respectively. The calendar year-end amounts of ordinary income, capital gains, and return of capital included in dividends received from the Fund’s investments in real estate investment trusts (“REITs”) are reported to the Fund after the end of the calendar year; accordingly, the Fund estimates these amounts for accounting purposes until the characterization of REIT distributions is reported to the Fund after the end of the calendar year. Estimates for the period from January 1 through July 31, 2017 are included in the Statement of Operations. Estimates are based on the most recent REIT distribution information available. Interest income is increased by the accretion of discount and decreased by the amortization of premium. In determining net gain or loss on securities sold, the cost of securities has been determined on an identified cost basis. Investment income, non-class-specific expenses and realized and unrealized gains and losses are allocated on a pro rata basis to each class based on the relative net assets of each class to the total net assets of the Fund.

c.  Federal and Foreign Income Taxes.  The Fund intends to meet the requirements of the Internal Revenue Code of 1986, as amended, applicable to regulated investment companies, and to distribute to its shareholders substantially all of its net investment income and any net realized capital gains at least annually. Management has performed an analysis of the Fund’s tax positions for the open tax years as of July 31, 2017 and has concluded that no provisions for income tax are required. The Fund’s federal tax returns for the prior three fiscal years remain subject to examination by the Internal Revenue Service. Management is not aware of any events that are reasonably possible to occur in the next six months that would result in the amounts of any unrecognized tax benefits significantly increasing or decreasing for the Fund. However, management’s conclusions regarding tax positions taken may be subject to review and adjustment at a later date based on factors including, but not limited to, new tax laws and accounting regulations and interpretations thereof.

The Fund may be subject to foreign withholding taxes on investment income and taxes on capital gains on investments that are accrued and paid based upon the Fund’s

23  |

Notes to Financial Statements (continued)

July 31, 2017 (Unaudited)

understanding of the tax rules and regulations that exist in the countries in which the Fund invests. Foreign withholding taxes on dividend and interest income are reflected on the Statement of Operations as a reduction of investment income, net of amounts eligible to be reclaimed. Dividends and interest receivable on the Statement of Assets and Liabilities are net of foreign withholding taxes. Foreign withholding taxes where reclaims have been or will be filed are reflected on the Statement of Assets and Liabilities as tax reclaims receivable. Capital gains taxes paid are included in net realized gain (loss) on investments in the Statement of Operations. Accrued but unpaid capital gains taxes are reflected as foreign taxes payable on the Statement of Assets and Liabilities, if applicable, and reduce unrealized gains on investments. In the event that realized gains on investments are subsequently offset by realized losses, taxes paid on realized gains may be returned to the Fund. Such amounts, if applicable, are reflected as foreign tax rebates receivable on the Statement of Assets and Liabilities and are recorded as a realized gain when received.

d.  Dividends and Distributions to Shareholders.  Dividends and distributions are recorded on the ex-dividend date. The timing and characterization of certain income and capital gain distributions are determined annually in accordance with federal tax regulations, which may differ from accounting principles generally accepted in the United States of America. When the Fund identifies the character of distributions paid by REITs in the previous calendar year, certain distributions to Fund shareholders may be redesignated as capital gain distributions or, if in excess of taxable income, as a return of capital. For the six months ended July 31, 2017, no redesignations have been made with respect to the distributions paid as disclosed within the Statement of Changes in Net Assets. Permanent differences are primarily due to differing treatments for book and tax purposes of items such as distribution redesignations. Permanent book and tax basis differences relating to shareholder distributions, net investment income, and net realized gains will result in reclassifications to the capital accounts. Temporary differences between book and tax distributable earnings are primarily due to deferred Trustees’ fees and wash sales. Distributions from net investment income and short-term capital gains are considered to be distributed from ordinary income for tax purposes.

The tax characterization of distributions is determined on an annual basis. The tax character of distributions paid to shareholders during the year ended January 31, 2017 was as follows:

2017 Distributions Paid From:
Ordinary Income	Long-Term Capital Gains		Total
$3,365,940	$	17,420,859	$	20,786,799

Differences between these amounts and those reported in the Statement of Changes in Net Assets are primarily attributable to different book and tax treatment for short-term capital gains.

|  24

Notes to Financial Statements (continued)

July 31, 2017 (Unaudited)

As of January 31, 2017, late-year ordinary and post-October capital loss deferrals were as follows:

Late-year ordinary and post-October capital loss deferrals* $ (173,152 ) 

* Under current tax law, capital losses after October 31 or December 31, as applicable, may be deferred and treated as occurring on the first day of the following taxable year. The Fund is deferring capital losses that occurred after October 31, 2016.

e.  Repurchase Agreements.  The Fund may enter into repurchase agreements, under the terms of a Master Repurchase Agreement, under which the Fund acquires securities as collateral and agrees to resell the securities at an agreed upon time and at an agreed upon price. It is the Fund’s policy that the market value of the collateral for repurchase agreements be at least equal to 102% of the repurchase price, including interest. Certain repurchase agreements are tri-party arrangements whereby the collateral is held in a segregated account for the benefit of the Fund and on behalf of the counterparty. Repurchase agreements could involve certain risks in the event of default or insolvency of the counterparty including possible delays or restrictions upon the Fund’s ability to dispose of the underlying securities. As of July 31, 2017, the Fund had an investment in a repurchase agreement for which the value of the related collateral exceeded the value of the repurchase agreement. The gross value of repurchase agreements is included in the Statement of Assets and Liabilities for financial reporting purposes.

f.  Securities Lending.  The Fund has entered into an agreement with State Street Bank and Trust Company (“State Street Bank”), as agent of the Fund, to lend securities to certain designated borrowers. The loans are collateralized with cash or securities in an amount equal to at least 105% or 102% of the market value (including accrued interest) of the loaned international or domestic securities, respectively, when the loan is initiated. Thereafter, the value of the collateral must remain at least 102% of the market value (including accrued interest) of loaned securities for U.S. equities and U.S. corporate debt; at least 105% of the market value (including accrued interest) of loaned securities for non-U.S. equities; and at least 100% of the market value (including accrued interest) of loaned securities for U.S. Government securities, sovereign debt issued by non-U.S. Governments and non-U.S. corporate debt. In the event that the market value of the collateral falls below the required percentages described above, the borrower will deliver additional collateral on the next business day. As with other extensions of credit, the Fund may bear the risk of loss with respect to the investment of the collateral. The Fund invests cash collateral in short-term investments, a portion of the income from which is remitted to the borrowers and the remainder allocated between the Fund and State Street Bank as lending agent.

For the six months ended July 31, 2017, the Fund did not loan securities under this agreement.

25  |

Notes to Financial Statements (continued)

July 31, 2017 (Unaudited)

g.  Indemnifications.  Under the Trust’s organizational documents, its officers and Trustees are indemnified against certain liabilities arising out of the performance of their duties to the Fund. Additionally, in the normal course of business, the Fund enters into contracts with service providers that contain general indemnification clauses. The Fund’s maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Fund that have not yet occurred. However, based on experience, the Fund expects the risk of loss to be remote.

h.  New Accounting Pronouncement.  In October 2016, the SEC adopted amendments to rules under the Investment Company Act of 1940 (“final rules”) intended to modernize the reporting and disclosure of information by registered investment companies. The final rules amend Regulation S-X and require funds to provide standardized, enhanced derivative disclosures in fund financial statements in a format designed for individual investors. The amendments to Regulation S-X also update the disclosures for other investments, including investments in and advances to affiliates, and amend the rules regarding the general form and content of fund financial statements. The compliance date for the amendments to Regulation S-X is August 1, 2017. Management is currently evaluating the amendments and the impact, if any, on the Fund’s financial statements.

3.  Fair Value Measurements.  In accordance with accounting standards related to fair value measurements and disclosures, the Fund has categorized the inputs utilized in determining the value of the Fund’s assets or liabilities. These inputs are summarized in the three broad levels listed below:

• Level 1 – quoted prices in active markets for identical assets or liabilities;

• Level 2 – prices determined using other significant inputs that are observable either directly, or indirectly through corroboration with observable market data (which could include quoted prices for similar assets or liabilities, interest rates, credit risk, etc.); and

• Level 3 – prices determined using significant unobservable inputs when quoted prices or observable inputs are unavailable such as when there is little or no market activity for an asset or liability (unobservable inputs reflect the Fund’s own assumptions in determining the fair value of assets or liabilities and would be based on the best information available).

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

|  26

Notes to Financial Statements (continued)

July 31, 2017 (Unaudited)

The following is a summary of the inputs used to value the Fund’s investments as of July 31, 2017, at value:

Asset Valuation Inputs

Description	Level 1		Level 2		Level 3		Total
Common Stocks(a)	$	167,440,074	$	—	$	—	$	167,440,074
Short-Term Investments		—		1,475,830		—		1,475,830
Total	$	167,440,074	$	1,475,830	$	—	$	168,915,904

(a) Details of the major categories of the Fund’s investments are reflected within the Portfolio of Investments.

For the six months ended July 31, 2017, there were no transfers among Levels 1, 2 and 3.

4.  Purchases and Sales of Securities.  For the six months ended July 31, 2017, purchases and sales of securities (excluding short-term investments) were $5,983,911 and $37,920,704, respectively.

5.  Management Fees and Other Transactions with Affiliates.

a.  Management Fees.  AEW Capital Management, L.P. (“AEW”) serves as the investment adviser to the Fund. AEW is a wholly-owned subsidiary of Natixis Global Asset Management, L.P. (“Natixis US”), which is part of Natixis Global Asset Management, an international asset management group based in Paris, France. Under the terms of the management agreement, the Fund pays a management fee at the annual rate of 0.80% of the first $500 million of the Fund’s average daily net assets and 0.75% of the Fund’s average daily net assets in excess of $500 million, calculated daily and payable monthly.

AEW has given a binding undertaking to the Fund to waive management fees and/or reimburse certain expenses to limit the Fund’s operating expenses, exclusive of acquired fund fees and expenses, brokerage expenses, interest expense, taxes, organizational and extraordinary expenses such as litigation and indemnification expenses. This undertaking is in effect until April 30, 2019, may be terminated before then only with the consent of the Fund’s Board of Trustees, and is reevaluated on an annual basis. Management fees payable, as reflected on the Statement of Assets and Liabilities, is net of waivers and/or expense reimbursements, if any, pursuant to these undertakings. Waivers/reimbursements that exceed management fees payable are reflected on the Statement of Assets and Liabilities as receivable from investment adviser.

Effective July 1, 2017, the expense limits as a percentage of average daily net assets under the expense limitation agreement for the Fund are as follows:

Expense Limit as a Percentage of Average Daily Net Assets
Class A	Class C		Class N		Class Y
1.25%		2.00%		0.95%		1.00%

27  |

Notes to Financial Statements (continued)

July 31, 2017 (Unaudited)

Prior to July 1, 2017, the expense limits as a percentage of average daily net assets under the expense limitation agreement were as follows:

Expense Limit as a Percentage of Average Daily Net Assets
Class A	Class C		Class N		Class Y
1.35%		2.10%		1.05%		1.10%

AEW shall be permitted to recover expenses it has borne under the expense limitation agreement (whether through waiver of its management fees or otherwise) on a class by class basis in later periods to the extent the annual operating expenses of a class fall below a class’ expense limits, provided, however, that a class is not obligated to pay such waived/reimbursed fees or expenses more than one year after the end of the fiscal year in which the fees or expenses were waived/reimbursed.

For the six months ended July 31, 2017, the management fees and waiver of management fees for the Fund were as follows:

Gross Management Fees	Contractual Waiver of Management Fees1		Net Management Fees		Percentage of Average Daily Net Assets
					Gross			Net
$707,923	$	2,752	$	705,171		0.80	%		0.80	%

¹ Management fee waiver is subject to possible recovery until January 31, 2019, though actual recovery is unlikely.

For the six months ended July 31, 2017, class-specific expenses have been reimbursed as follows:

Reimbursement2
Class A	Class C	Class N	Class Y	Total
$21,648	$2,318	$  —	$42,972	$66,938

² Contractual expense reimbursements are subject to possible recovery until January 31, 2019.

No expenses were recovered during the six months ended July 31, 2017 under the terms of the expense limitation agreement.

b.  Service and Distribution Fees.  NGAM Distribution, which is a wholly-owned subsidiary of Natixis US, has entered into a distribution agreement with the Trust. Pursuant to this agreement, NGAM Distribution serves as principal underwriter of the Fund.

Pursuant to Rule 12b-1 under the 1940 Act, the Trust has adopted a Service Plan relating to the Fund’s Class A shares (the “Class A Plan”) and a Distribution and Service Plan relating to the Fund’s Class C shares (the “Class C Plan”).

|  28

Notes to Financial Statements (continued)

July 31, 2017 (Unaudited)

Under the Class A Plan, the Fund pays NGAM Distribution a monthly service fee at an annual rate not to exceed 0.25% of the average daily net assets attributable to the Fund’s Class A shares, as reimbursement for expenses incurred by NGAM Distribution in providing personal services to investors in Class A shares and/or the maintenance of shareholder accounts.

Under the Class C Plan, the Fund pays NGAM Distribution a monthly service fee at an annual rate not to exceed 0.25% of the average daily net assets attributable to the Fund’s Class C shares, as compensation for services provided by NGAM Distribution in providing personal services to investors in Class C shares and/or the maintenance of shareholder accounts.

Also under the Class C Plan, the Fund pays NGAM Distribution a monthly distribution fee at the annual rate of 0.75% of the average daily net assets attributable to the Fund’s Class C shares, as compensation for services provided by NGAM Distribution in connection with the marketing or sale of Class C shares.

For the six months ended July 31, 2017, the service and distribution fees for the Fund were as follows:

Service Fees			Distribution Fees
Class A	Class C		Class C
$68,014		$7,647		$22,941

c.  Administrative Fees.  NGAM Advisors, L.P. (“NGAM Advisors”) provides certain administrative services for the Fund and contracts with State Street Bank to serve as sub-administrator. NGAM Advisors is a wholly-owned subsidiary of Natixis US. Pursuant to an agreement among Natixis Funds Trusts, Loomis Sayles Funds Trusts and NGAM Advisors, the Fund pays NGAM Advisors monthly its pro rata portion of fees equal to an annual rate of 0.0575% of the first $15 billion of the average daily net assets of the Natixis Funds Trusts and Loomis Sayles Funds Trusts, 0.0500% of the next $15 billion, 0.0400% of the next $30 billion, 0.0350% of the next $30 billion and 0.0325% of such assets in excess of $90 billion, subject to an annual aggregate minimum fee for the Natixis Funds Trusts and Loomis Sayles Funds Trusts of $10 million, which is reevaluated on an annual basis.

For the six months ended July 31, 2017, the administrative fees for the Fund were $39,519.

d.  Sub-Transfer Agent Fees.  NGAM Distribution has entered into agreements, which include servicing agreements, with financial intermediaries that provide recordkeeping, processing, shareholder communications and other services to customers of the intermediaries that hold positions in the Fund and has agreed to compensate the intermediaries for providing those services. Intermediaries transact with the Fund primarily through the use of omnibus accounts on behalf of their customers who hold positions in the Fund. These services would have been provided

29  |

Notes to Financial Statements (continued)

July 31, 2017 (Unaudited)

by the Fund’s transfer agent and other service providers if the shareholders’ accounts were maintained directly at the Fund’s transfer agent. Accordingly, the Fund has agreed to reimburse NGAM Distribution for all or a portion of the servicing fees paid to these intermediaries. The reimbursement amounts (sub-transfer agent fees) paid to NGAM Distribution are subject to a current per-account equivalent fee limit approved by the Fund’s Board, which is based on fees for similar services paid to the Fund’s transfer agent and other service providers. Class N shares do not bear such expenses.

For the six months ended July 31, 2017, the sub-transfer agent fees (which are reflected in transfer agent fees and expenses in the Statement of Operations) for the Fund were $125,914.

As of July 31, 2017, the Fund owes NGAM Distribution $3,890 in reimbursements for sub-transfer agent fees (which are reflected in the Statement of Assets and Liabilities as payable to distributor).

Sub-transfer agent fees attributable to Class A, Class C and Class Y are allocated on a pro rata basis to each class based on the relative net assets of each class to the total net assets of those classes.

e.  Commissions.  Commissions (including CDSCs) on Fund shares retained by NGAM Distribution during the six months ended July 31, 2017 amounted to $1,932.

f.  Trustees Fees and Expenses.  The Trust does not pay any compensation directly to its officers or Trustees who are directors, officers or employees of NGAM Advisors, NGAM Distribution, Natixis US or their affiliates. The Chairperson of the Board of Trustees receives a retainer fee at the annual rate of $325,000. 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 $155,000. 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, the chairperson of the Contract Review Committee and the chairperson of the Audit Committee each receive an additional retainer fee at the annual rate of $17,500. The chairperson of the Governance Committee receives an additional retainer fee at the annual rate of $10,000. Each Contract Review Committee member is compensated $6,000 for each Committee meeting that he or she attends in person and $3,000 for each meeting that he or she attends telephonically. Each Audit Committee member is compensated $6,000 for each Committee meeting that he or she attends in person and $3,000 for each meeting that he or she attends telephonically. These fees are allocated among the funds in the Natixis Funds Trusts and Loomis Sayles Funds Trusts based on a formula that takes into account, among other factors, the relative net assets of each fund. Trustees are reimbursed for travel expenses in connection with attendance at meetings.

|  30

Notes to Financial Statements (continued)

July 31, 2017 (Unaudited)

A deferred compensation plan (the “Plan”) is available to the Trustees on a voluntary basis. Deferred amounts remain in the Fund until distributed in accordance with the provisions of the Plan. The value of a participating Trustee’s deferral account is based on theoretical investments of deferred amounts, on the normal payment dates, in certain funds of the Natixis Funds Trusts and Loomis Sayles Funds Trusts as designated by the participating Trustees. Changes in the value of participants’ deferral accounts are allocated pro rata among the funds in the Natixis Funds Trusts and Loomis Sayles Funds Trusts, and are normally reflected as Trustees’ fees and expenses in the Statement of Operations. The portions of the accrued obligations allocated to the Fund under the Plan are reflected as Deferred Trustees’ fees in the Statement of Assets and Liabilities.

g.  Reimbursement of Transfer Agent Fees and Expenses.  NGAM Advisors has given a binding contractual undertaking to the Fund to reimburse any and all transfer agency expenses for the Fund’s Class N shares. This undertaking is in effect through April 30, 2018 and is not subject to recovery under the expense limitation agreement described above.

For the six months ended July 31, 2017, NGAM Advisors reimbursed the Fund $116 for transfer agency expenses related to Class N shares.

6.  Class-Specific Transfer Agent Fees and Expenses.  For the six months ended July 31, 2017, the Fund incurred the following class-specific transfer agent fees and expenses (including sub-transfer agent fees, where applicable):

	Class A		Class C		Class N		Class Y
Transfer Agent Fees and Expenses	$	48,421	$	5,443	$	116	$	97,776

Transfer agent fees and expenses attributable to Class A, Class C and Class Y are allocated on a pro rata basis to each class based on the relative net assets of each class to the total net assets of those classes. Transfer agent fees and expenses attributable to Class N are allocated to Class N.

7.  Line of Credit.  The Fund, together with certain other funds of Natixis Funds Trusts and Loomis Sayles Funds Trusts, entered into a 364-day, $400,000,000 syndicated, committed, unsecured line of credit with Citibank, N.A. to be used for temporary or emergency purposes only. Any one Fund may borrow up to the full $400,000,000 under the line of credit (as long as all borrowings by all Funds in the aggregate do not exceed the $400,000,000 limit at any time) subject to each Fund’s investment restrictions. Interest is charged to the Funds at a rate equal to the greater of the eurodollar or the federal funds rate plus 1.00%. In addition, a commitment fee of 0.15% per annum, payable on the last business day of each month, is accrued and apportioned among the participating funds based on their average daily unused portion of the line of credit. The Funds paid an arrangement fee, an upfront fee, and other fees in connection with the new line of credit agreement, which are being amortized over a period of 364 days

31  |

Notes to Financial Statements (continued)

July 31, 2017 (Unaudited)

and are reflected as miscellaneous expenses on the Statement of Operations. The unamortized balance is reflected as prepaid expenses on the Statement of Assets and Liabilities.

Prior to April 13, 2017, the commitment fee was 0.10% per annum based on the average daily unused portion of the line of credit.

For the six months ended July 31, 2017, the Fund had no borrowings under this agreement.

8.  Brokerage Commission Recapture.  The Fund has entered into agreements with certain brokers whereby the brokers will rebate a portion of brokerage commissions. All amounts rebated by the brokers are returned to the Fund under such agreements and are included as realized gains on investments in the Statement of Operations. For the six months ended July 31, 2017, $950 was rebated under these agreements.

9.  Concentration of Risk.  The Fund concentrates its investments in real estate securities, including REITs. A fund with a concentrated portfolio is vulnerable to the risks of the industry in which it invests and is subject to greater risks and market fluctuations than funds investing in a broader range of industries. Real estate securities are susceptible to the risks associated with direct ownership of real estate such as declining property values, increases in property taxes, operating expenses, interest rates or competition, zoning changes and losses from casualty and condemnation.

10.  Concentration of Ownership.  From time to time, a Fund may have a concentration of one or more accounts constituting a significant percentage of shares outstanding. Investment activities by holders of such accounts could have material impacts on the Fund. As of July 31, 2017, based on management’s evaluation of the shareholder account base, the Fund had accounts representing controlling ownership of more than 5% of the Fund’s total outstanding shares. The number of such accounts, based on accounts that represent more than 5% of an individual class of shares, and the aggregate percentage of net assets represented by such holdings were as follows:

Number of 5% Account Holders	Percentage of Ownership
1		5.75	%

Omnibus shareholder accounts for which NGAM Advisors understands that the intermediary has discretion over the underlying shareholder accounts or investment models where a shareholder account may be invested for a non-discretionary customer are included in the table above. For other omnibus accounts, the Fund does not have information on the individual shareholder accounts underlying the omnibus accounts; therefore, there could be other 5% shareholders in addition to those disclosed in the table above.

|  32

Notes to Financial Statements (continued)

July 31, 2017 (Unaudited)

11.  Capital Shares.  The Fund may issue an unlimited number of shares of beneficial interest without par value. Transactions in capital shares were as follows:

	Six Month Ended July 31, 2017					Year Ended January 31, 2017
	Shares			Amount		Shares			Amount
Class A
Issued from the sale of shares	207,459		$	3,284,841		879,518		$	14,782,661
Issued in connection with the reinvestment of distributions	66,849			1,042,844		318,809			5,207,567
Redeemed	(718,570	)		(11,351,295	)	(1,054,296	)		(17,578,736	)
Net change	(444,262	)	$	(7,023,610	)	144,031		$	2,411,492
Class C
Issued from the sale of shares	16,529		$	263,230		75,251		$	1,272,960
Issued in connection with the reinvestment of distributions	5,381			83,977		31,934			521,241
Redeemed	(148,968	)		(2,364,976	)	(139,930	)		(2,325,959	)
Net change	(127,058	)	$	(2,017,769	)	(32,745	)	$	(531,758	)
Class N
Issued from the sale of shares	60,182		$	897,958		139,867		$	2,204,860
Issued in connection with the reinvestment of distributions	10,718			156,984		38,672			593,641
Redeemed	(21,222	)		(314,889	)	(67,796	)		(1,065,409	)
Net change	49,678		$	740,053		110,743		$	1,733,092
Class Y
Issued from the sale of shares	890,751		$	13,136,917		2,282,679		$	35,651,055
Issued in connection with the reinvestment of distributions	142,635			2,083,624		678,197			10,401,001
Redeemed	(2,574,540	)		(38,166,215	)	(3,780,866	)		(58,167,817	)
Net change	(1,541,154	)	$	(22,945,674	)	(819,990	)	$	(12,115,761	)
Increase (decrease) from capital share transactions	(2,062,796	)	$	(31,247,000	)	(597,961	)	$	(8,502,935	)

33  |

NATIXIS FUNDS

Supplement dated June 30, 2017 to the Natixis Funds Summary Prospectuses, dated February 28, 2017, March 31, 2017, and May 1, 2017, as may be revised or supplemented from time to time, for the following funds:

AEW Real Estate Fund	Loomis Sayles Value Fund
ASG Dynamic Allocation Fund	McDonnell Intermediate Municipal Bond Fund
ASG Global Alternatives Fund	Mirova Global Green Bond Fund
ASG Managed Futures Strategy Fund	Mirova Global Sustainable Equity Fund
ASG Tactical U.S. Market Fund	Natixis Oakmark Fund
Gateway Equity Call Premium Fund	Natixis Oakmark International Fund
Gateway Fund	Natixis Sustainable Future 2015 Fund
Loomis Sayles Core Plus Bond Fund	Natixis Sustainable Future 2020 Fund
Loomis Sayles Dividend Income Fund	Natixis Sustainable Future 2025 Fund
Loomis Sayles Global Equity and Income Fund	Natixis Sustainable Future 2030 Fund
Loomis Sayles Global Growth Fund	Natixis Sustainable Future 2035 Fund
Loomis Sayles Growth Fund	Natixis Sustainable Future 2040 Fund
Loomis Sayles High Income Fund	Natixis Sustainable Future 2045 Fund
Loomis Sayles Intermediate Duration Bond Fund	Natixis Sustainable Future 2050 Fund
Loomis Sayles Investment Grade Bond Fund	Natixis Sustainable Future 2055 Fund
Loomis Sayles Limited Term Government and Agency Fund	Natixis Sustainable Future 2060 Fund
Loomis Sayles Multi-Asset Income Fund	Natixis U.S. Equity Opportunities Fund
Loomis Sayles Senior Floating Rate and Fixed Income Fund	Vaughan Nelson Select Fund
Loomis Sayles Strategic Alpha Fund	Vaughan Nelson Small Cap Value Fund
Loomis Sayles Strategic Income Fund	Vaughan Nelson Value Opportunity Fund

AEW REAL ESTATE FUND

Effective July 1, 2017, AEW Capital Management, L.P. has given a binding contractual undertaking to the Fund to limit the amount of the Fund’s total annual fund operating expenses (exclusive of brokerage expenses, interest expense, taxes, acquired fund fees and expenses, organizational and extraordinary expenses, such as litigation and indemnification expenses) to 1.25%, 2.00%, 0.95%, 1.25% and 1.00% of the Fund’s average daily net assets for Class A, Class C, Class N, Class T and Class Y shares, respectively.

This undertaking is in effect through April 30, 2019.

This page not part of shareholder report

Accordingly, the Annual Fund Operating Expenses table and the Example table within the section “Fund Fees & Expenses” are amended and restated as follows with respect to the Fund:

Annual Fund Operating Expenses

(expenses that you pay each year as a percentage of the value of your investment)

	Class A			Class C			Class N			Class T			Class Y
Management fees		0.80	%		0.80	%		0.80	%		0.80	%		0.80	%
Distribution and/or service (12b-1) fees		0.25	%		1.00	%		0.00	%		0.25	%		0.00	%
Other expenses		0.33	%		0.33	%		0.17	%		0.33	%1		0.33	%
Total annual fund operating expenses		1.38	%		2.13	%		0.97	%		1.38	%		1.13	%
Fee waiver and/or expense reimbursement2,3		0.13	%		0.13	%		0.02	%		0.13	%		0.13	%
Total annual fund operating expenses after fee waiver and/or expense reimbursement		1.25	%		2.00	%		0.95	%		1.25	%		1.00	%

1 Other expenses are estimated for the current fiscal year.

2 The Fund’s investment adviser has given a binding contractual undertaking to the Fund to limit the amount of the Fund’s total annual fund operating expenses to 1.25%, 2.00%, 0.95%, 1.25% and 1.00% of the Fund’s average daily net assets for Class A, C, N, T and Y shares, respectively, exclusive of brokerage expenses, interest expense, taxes, acquired fund fees and expenses, organizational and extraordinary expenses, such as litigation and indemnification expenses. This undertaking is in effect through April 30, 2019 and may be terminated before then only with the consent of the Fund’s Board of Trustees. The Fund’s investment adviser will be permitted to recover, on a class by class basis, management fees waived and/or expenses reimbursed to the extent that expenses in later periods fall below the applicable expense limitations for Class A, C, N, T and Y shares. The Fund will not be obligated to repay any such waived/reimbursed fees and expenses more than one year after the end of the fiscal year in which the fees or expenses were waived/reimbursed.

3 NGAM Advisors has given a binding contractual undertaking to the Fund to reimburse any and all transfer agency expenses for Class N shares. This undertaking is in effect through April 30, 2018 and may be terminated before then only with the consent of the Fund’s Board of Trustees.

Example

This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of

This page not part of shareholder report

those periods (except where indicated). The example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same, except that the example is based on Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement assuming that such waiver and/or reimbursement will only be in place through the date noted above and on the Total Annual Fund Operating Expenses for the remaining periods. Although your actual costs may be higher or lower, based on these assumptions your costs would be:

If shares are redeemed:
	1 year		3 years		5 years		10 years
Class A	$	695	$	964	$	1,265	$	2,117
Class C	$	303	$	643	$	1,122	$	2,443
Class N	$	97	$	305	$	533	$	1,186
Class T	$	374	$	653	$	964	$	1,845
Class Y	$	102	$	335	$	599	$	1,353
If shares are not redeemed:
	1 year		3 years		5 years		10 years
Class C	$	203	$	643	$	1,122	$	2,443

AEW Real Estate Fund	Loomis Sayles Limited Term Government and Agency Fund
ASG Dynamic Allocation Fund	Loomis Sayles Multi-Asset Income Fund
ASG Global Alternatives Fund	Loomis Sayles Senior Floating Rate and Fixed Income Fund
ASG Managed Futures Strategy Fund	Loomis Sayles Strategic Alpha Fund
ASG Tactical U.S. Market Fund	Loomis Sayles Strategic Income Fund
Gateway Equity Call Premium Fund	Loomis Sayles Value Fund
Gateway Fund	Mirova Global Green Bond Fund
Loomis Sayles Core Plus Bond Fund	Mirova Global Sustainable Equity Fund
Loomis Sayles Dividend Income Fund	McDonnell Intermediate Municipal Bond Fund
Loomis Sayles Global Equity and Income Fund	Natixis Oakmark Fund
Loomis Sayles Global Growth Fund	Natixis Oakmark International Fund
Loomis Sayles Growth Fund	Natixis U.S. Equity Opportunities Fund
Loomis Sayles High Income Fund	Vaughan Nelson Select Fund
Loomis Sayles Intermediate Duration Bond Fund	Vaughan Nelson Small Cap Value Fund
Loomis Sayles Investment Grade Bond Fund	Vaughan Nelson Value Opportunity Fund

This page not part of shareholder report

Effective July 1, 2017, the information under sub-sections “Class A and C Shares” and “Class A Shares,” as applicable, in the section “Purchase and Sale of Fund Shares” in each Fund’s Summary is hereby amended and restated as follows:

The following chart shows the investment minimums for various types of accounts:

Type of Account	Minimum Initial Purchase		Minimum Subsequent Purchase
Any account other than those listed below	$	2,500	$	50
For shareholders participating in Natixis Funds’ Investment Builder Program	$	1,000	$	50
For Traditional IRA, Roth IRA, Rollover IRA, SEP-IRA and Keogh plans using the Natixis Funds’ prototype document (direct accounts, not held through intermediary)	$	1,000	$	50
Coverdell Education Savings Accounts using the Natixis Funds’ prototype document (direct accounts, not held through intermediary)	$	500	$	50

There is no initial or subsequent investment minimum for:

• Wrap Fee Programs of certain broker-dealers, the advisers or NGAM Distribution, L.P. Please consult your financial representative to determine if your wrap fee program is subject to additional or different conditions or fees.

• Certain Retirement Plans. Please consult your retirement plan administrator to determine if your retirement plan is subject to additional or different conditions or fees.

• Clients of a Registered Investment Adviser where the Registered Investment Adviser receives an advisory, management or consulting fee.

Effective July 1, 2017, the information under sub-section “Class Y Shares” in the section “Purchase and Sale of Fund Shares” in each Fund’s Summary is hereby amended and restated as follows:

Class Y shares of the Fund are generally subject to a minimum initial investment of $100,000 and a minimum subsequent investment of $50, except there is no minimum initial or subsequent investment for:

• Wrap Fee Programs of certain broker-dealers, the advisers or NGAM Distribution, L.P. Please consult your financial representative to determine if your wrap fee program is subject to additional or different conditions or fees.

• Certain Retirement Plans. Please consult your retirement plan administrator to determine if your retirement plan is subject to additional or different conditions or fees.

This page not part of shareholder report

• Certain Individual Retirement Accounts if the amounts invested represent rollover distributions from investments by any of the retirement plans invested in the Fund.

• Clients of a Registered Investment Adviser where the Registered Investment Adviser receives an advisory, management or consulting fee.

• Fund Trustees, former Fund trustees, employees of affiliates of the Natixis Funds and other individuals who are affiliated with any Natixis Fund (this also applies to any spouse, parents, children, siblings, grandparents, grandchildren and in-laws of those mentioned) and Natixis affiliate employee benefit plans.

At the discretion of NGAM Advisors, clients of NGAM Advisors and its affiliates may purchase Class Y shares of the Fund below the stated minimums.

This page not part of shareholder report

SEMIANNUAL REPORT

July 31, 2017

Natixis Sustainable Future 2015 Fund

Natixis Sustainable Future 2020 Fund

Natixis Sustainable Future 2025 Fund

Natixis Sustainable Future 2030 Fund

Natixis Sustainable Future 2035 Fund

Natixis Sustainable Future 2040 Fund

Natixis Sustainable Future 2045 Fund

Natixis Sustainable Future 2050 Fund

Natixis Sustainable Future 2055 Fund

Natixis Sustainable Future 2060 Fund

TABLE OF CONTENTS

Portfolio Review page 1

Portfolio of Investments page 11

Financial Statements page  83

Notes to Financial Statements page 99

Shareholder Supplement enclosed

NATIXIS SUSTAINABLE FUTURE FUNDS

Managers	Symbols
Mirova Global Sustainable Equity Segment	2015 Fund    Class N    NSFBX
Mirova Carbon Neutral U.S. Equity Segment	2020 Fund    Class N    NSFDX
Natixis Asset Management U.S., LLC	2025 Fund    Class N    NSFEX
	2030 Fund    Class N    NSFFX
AIA U.S. Large Cap Value ESG Segment	2035 Fund    Class N    NSFGX
Active Index Advisors, a division of NGAM Advisors, L.P.	2040 Fund    Class N    NSFHX
	2045 Fund    Class N    NSFJX
Portfolio Allocations	2050 Fund    Class N    NSFKX
Wilshire Associates Incorporated	2055 Fund    Class N    NSFLX
	2060 Fund    Class N    NSFMX

Investment Goal

Each Fund seeks the highest total return consistent with its current asset allocation.

NATIXIS SUSTAINABLE FUTURE 2015 FUND

Total Returns — July 31, 2017²

				Expense Ratios3
	Life of Fund			Gross			Net
Class N (Inception 2/28/17)
NAV		5.40	%		3.66	%		0.65	%
Comparative Performance
S&P Target Date 2015® Index1		4.01

NATIXIS SUSTAINABLE FUTURE 2020 FUND

Total Returns — July 31, 2017²

				Expense Ratios3
	Life of Fund			Gross			Net
Class N (Inception 2/28/17)
NAV		6.10	%		2.98	%		0.65	%
Comparative Performance
S&P Target Date 2020® Index1		4.47

Performance data shown represents past performance and is no guarantee of, and not necessarily indicative of, future results. Total return and value will vary, and you may have a gain or loss when shares are sold. Current performance may be lower or higher than quoted. For most recent month-end performance, visit ngam.natixis.com/performance. Performance for other share classes will be greater or less than shown based on differences in fees and sales charges. You may not invest directly in an index. Performance for periods less than one year is cumulative, not annualized. Returns reflect changes in share price and reinvestment of dividends and capital gains, if any. The table(s) do not reflect taxes shareholders might owe on any fund distributions or when they redeem their shares. See notes to tables on page 4.

1  |

NATIXIS SUSTAINABLE FUTURE 2025 FUND

Total Returns — July 31, 2017²

				Expense Ratios3
	Life of Fund			Gross			Net
Class N (Inception 2/28/17)
NAV		6.70	%		2.53	%		0.65	%
Comparative Performance
S&P Target Date 2025® Index1		5.01

NATIXIS SUSTAINABLE FUTURE 2030 FUND

Total Returns — July 31, 2017²

				Expense Ratios3
	Life of Fund			Gross			Net
Class N (Inception 2/28/17)
NAV		7.60	%		2.63	%		0.65	%
Comparative Performance
S&P Target Date 2030® Index1		5.50

NATIXIS SUSTAINABLE FUTURE 2035 FUND

Total Returns — July 31, 2017²

				Expense Ratios3
	Life of Fund			Gross			Net
Class N (Inception 2/28/17)
NAV		8.40	%		2.67	%		0.65	%
Comparative Performance
S&P Target Date 2035® Index1		5.99

Performance data shown represents past performance and is no guarantee of, and not necessarily indicative of, future results. Total return and value will vary, and you may have a gain or loss when shares are sold. Current performance may be lower or higher than quoted. For most recent month-end performance, visit ngam.natixis.com/performance. Performance for other share classes will be greater or less than shown based on differences in fees and sales charges. You may not invest directly in an index. Performance for periods less than one year is cumulative, not annualized. Returns reflect changes in share price and reinvestment of dividends and capital gains, if any. The table(s) do not reflect taxes shareholders might owe on any fund distributions or when they redeem their shares. See notes to tables on page 4.

|  2

NATIXIS SUSTAINABLE FUTURE FUNDS

NATIXIS SUSTAINABLE FUTURE 2040 FUND

Total Returns — July 31, 2017²

				Expense Ratios3
	Life of Fund			Gross			Net
Class N (Inception 2/28/17)
NAV		8.90	%		2.97	%		0.65	%
Comparative Performance
S&P Target Date 2040® Index1		6.30

NATIXIS SUSTAINABLE FUTURE 2045 FUND

Total Returns — July 31, 2017²

				Expense Ratios3
	Life of Fund			Gross			Net
Class N (Inception 2/28/17)
NAV		9.30	%		3.59	%		0.65	%
Comparative Performance
S&P Target Date 2045® Index1		6.51

NATIXIS SUSTAINABLE FUTURE 2050 FUND

Total Returns — July 31, 2017²

				Expense Ratios3
	Life of Fund			Gross			Net
Class N (Inception 2/28/17)
NAV		9.50	%		3.80	%		0.65	%
Comparative Performance
S&P Target Date 2050® Index1		6.69

Performance data shown represents past performance and is no guarantee of, and not necessarily indicative of, future results. Total return and value will vary, and you may have a gain or loss when shares are sold. Current performance may be lower or higher than quoted. For most recent month-end performance, visit ngam.natixis.com/performance. Performance for other share classes will be greater or less than shown based on differences in fees and sales charges. You may not invest directly in an index. Performance for periods less than one year is cumulative, not annualized. Returns reflect changes in share price and reinvestment of dividends and capital gains, if any. The table(s) do not reflect taxes shareholders might owe on any fund distributions or when they redeem their shares. See notes to tables on page 4.

3  |

NATIXIS SUSTAINABLE FUTURE 2055 FUND

Total Returns — July 31, 2017²

				Expense Ratios3
	Life of Fund			Gross			Net
Class N (Inception 2/28/17)
NAV		9.50	%		5.59	%		0.65	%
Comparative Performance
S&P Target Date 2055® Index1		6.78

NATIXIS SUSTAINABLE FUTURE 2060 FUND

Total Returns — July 31, 2017²

				Expense Ratios3
	Life of Fund			Gross			Net
Class N (Inception 2/28/17)
NAV		9.50	%		4.87	%		0.65	%
Comparative Performance
S&P Target Date 2060+® Index1		6.83

Performance data shown represents past performance and is no guarantee of, and not necessarily indicative of, future results. Total return and value will vary, and you may have a gain or loss when shares are sold. Current performance may be lower or higher than quoted. For most recent month-end performance, visit ngam.natixis.com/performance. Performance for other share classes will be greater or less than shown based on differences in fees and sales charges. You may not invest directly in an index. Performance for periods less than one year is cumulative, not annualized. Returns reflect changes in share price and reinvestment of dividends and capital gains, if any. The table(s) do not reflect taxes shareholders might owe on any fund distributions or when they redeem their shares.

¹  The S&P Target Date^® Index Series consists of multi-asset class indices, each corresponding to a specific target retirement date. The asset allocation for each index is determined through an annual survey of target date fund groups with a minimum asset threshold of $100 million. The various asset class exposures of the Indices may include equities, fixed income, REITs, and commodities depending on the allocations reported in the survey. Index returns are calculated daily. You may not invest directly in an index.

²  Fund performance has been increased by fee waivers and/or expense reimbursements, if any, without which performance would have been lower.

³  Expense ratios are as shown in the Fund’s prospectus in effect as of the date of this report and include the expenses of the underlying funds in which the Fund invests. The expense ratios for the current reporting period can be found in the Financial Highlights section of this report under Ratios to Average Net Assets. Net expenses reflect contractual expense caps set to expire on 5/31/18. When a Fund’s expenses are below the cap, gross and net expense ratios will be the same. See Note 5 of the Notes to Financial Statements for more information about the Fund’s expense caps.

|  4

ADDITIONAL INFORMATION

All investing involves risk, including the risk of loss. There is no assurance that any investment will meet its performance objectives or that losses will be avoided.

ADDITIONAL INDEX INFORMATION

This document may contain references to third party copyrights, indexes, and trademarks, each of which is the property of its respective owner. Such owner is not affiliated with Natixis Global Asset Management or any of its related or affiliated companies (collectively “NGAM”) and does not sponsor, endorse or participate in the provision of any NGAM services, funds or other financial products.

The index information contained herein is derived from third parties and is provided on an “as is” basis. The user of this information assumes the entire risk of use of this information. Each of the third party entities involved in compiling, computing or creating index information disclaims all warranties (including, without limitation, any warranties of originality, accuracy, completeness, timeliness, non-infringement, merchantability and fitness for a particular purpose) with respect to such information.

PROXY VOTING INFORMATION

A description of the Natixis Funds proxy voting policies and procedures is available without charge, upon request, by calling Natixis Funds at 800-225-5478; on Natixis Funds’ website at ngam.natixis.com; and on the Securities and Exchange Commission’s (SEC) website at www.sec.gov. Information regarding how Natixis Funds voted proxies relating to portfolio securities during the most recent 12-month period ended June 30 is available on the Natixis Fund’s website and the SEC’s website.

QUARTERLY PORTFOLIO SCHEDULES

The Natixis Funds file complete schedules of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-Q. The Fund’s Forms N-Q are available on the SEC’s website at www.sec.gov and may be reviewed and copied at the SEC’s Public Reference Room in Washington, D.C. Information on the operation of the Public Reference Room may be obtained by calling 800-SEC-0330.

5  |

UNDERSTANDING FUND EXPENSES

As a mutual fund shareholder, you incur different costs: transaction costs, including sales charges (loads) on purchases and contingent deferred sales charges on redemptions, and ongoing costs, including management fees, distribution and/or service fees (12b-1 fees), and other fund expenses. Certain exemptions may apply. These costs are described in more detail in the Fund’s prospectus. The following examples are intended to help you understand the ongoing costs of investing in the Fund and help you compare these with the ongoing costs of investing in other mutual funds.

The first line in the table of each class of Fund shares shows the actual account values and actual Fund expenses you would have paid on a $1,000 investment in the Fund from February 1, 2017 through July 31, 2017. To estimate the expenses you paid over the period, simply divide your account value by $1,000 (for example, $8,600 account value divided by $1,000 = 8.60) and multiply the result by the number in the Expenses Paid During Period column as shown below for your class.

The second line in the table of each class of Fund shares provides information about hypothetical account values and hypothetical expenses based on the Fund’s actual expense ratios and an assumed rate of return of 5% per year before expenses, which is not the Fund’s actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid on your investment for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.

Please note that the expenses shown reflect ongoing costs only, and do not include any transaction costs, such as sales charges. Therefore, the second line in the table is useful in comparing ongoing costs only, and will not help you determine the relative costs of owning different funds. If transaction costs were included, total costs would be higher.

NATIXIS SUSTAINABLE FUTURE 2015 FUND	BEGINNING ACCOUNT VALUE 2/1/20171		ENDING ACCOUNT VALUE 7/31/2017		EXPENSES PAID DURING PERIOD 2/1/20171 – 7/31/2017
Class N
Actual		$1,000.00		$1,054.00		$1.64	1
Hypothetical (5% return before expenses)		$1,000.00		$1,022.91		$1.91	*

* Hypothetical expenses are equal to the Fund’s annualized expense ratio (after waiver/reimbursement) of 0.38%, multiplied by the average account value over the period, multiplied by the number of days in the most recent fiscal half-year (181), divided by 365 (to reflect the half-year period). Expense ratios do not include the expenses of the underlying funds in which the Fund invests. The annualized expense ratios, as stated in the fee table of the Prospectus, may differ from the expense ratios disclosed in this report.

¹ Fund commenced operations on February 28, 2017. Actual expenses are equal to the Fund’s annualized expense ratio (after waiver/reimbursement) of 0.38%, multiplied by the average account value over the period, multiplied by the number of days in the most recent fiscal period (153), divided by 365 (to reflect the partial period). Expense ratios do not include the expenses of the underlying funds in which the Fund invests. The annualized expense ratios, as stated in the fee table of the Prospectus, may differ from the expense ratios disclosed in this report.

NATIXIS SUSTAINABLE FUTURE 2020 FUND	BEGINNING ACCOUNT VALUE 2/1/20171		ENDING ACCOUNT VALUE 7/31/2017		EXPENSES PAID DURING PERIOD 2/1/20171 – 7/31/2017
Class N
Actual		$1,000.00		$1,061.00		$1.77	1
Hypothetical (5% return before expenses)		$1,000.00		$1,022.76		$2.06	*

* Hypothetical expenses are equal to the Fund’s annualized expense ratio (after waiver/reimbursement) of 0.41%, multiplied by the average account value over the period, multiplied by the number of days in the most recent fiscal half-year (181), divided by 365 (to reflect the half-year period). Expense ratios do not include the expenses of the underlying funds in which the Fund invests. The annualized expense ratios, as stated in the fee table of the Prospectus, may differ from the expense ratios disclosed in this report.

¹ Fund commenced operations on February 28, 2017. Actual expenses are equal to the Fund’s annualized expense ratio (after waiver/reimbursement) of 0.41%, multiplied by the average account value over the period, multiplied by the number of days in the most recent fiscal period (153), divided by 365 (to reflect the partial period). Expense ratios do not include the expenses of the underlying funds in which the Fund invests. The annualized expense ratios, as stated in the fee table of the Prospectus, may differ from the expense ratios disclosed in this report.

|  6

NATIXIS SUSTAINABLE FUTURE 2025 FUND	BEGINNING ACCOUNT VALUE 2/1/20171		ENDING ACCOUNT VALUE 7/31/2017		EXPENSES PAID DURING PERIOD 2/1/20171 – 7/31/2017
Class N
Actual		$1,000.00		$1,067.00		$1.95	1
Hypothetical (5% return before expenses)		$1,000.00		$1,022.56		$2.26	*

* Hypothetical expenses are equal to the Fund’s annualized expense ratio (after waiver/reimbursement) of 0.45%, multiplied by the average account value over the period, multiplied by the number of days in the most recent fiscal half-year (181), divided by 365 (to reflect the half-year period). Expense ratios do not include the expenses of the underlying funds in which the Fund invests. The annualized expense ratios, as stated in the fee table of the Prospectus, may differ from the expense ratios disclosed in this report.

¹ Fund commenced operations on February 28, 2017. Actual expenses are equal to the Fund��s annualized expense ratio (after waiver/reimbursement) of 0.45%, multiplied by the average account value over the period, multiplied by the number of days in the most recent fiscal period (153), divided by 365 (to reflect the partial period). Expense ratios do not include the expenses of the underlying funds in which the Fund invests. The annualized expense ratios, as stated in the fee table of the Prospectus, may differ from the expense ratios disclosed in this report.

NATIXIS SUSTAINABLE FUTURE 2030 FUND	BEGINNING ACCOUNT VALUE 2/1/20171		ENDING ACCOUNT VALUE 7/31/2017		EXPENSES PAID DURING PERIOD 2/1/20171 – 7/31/2017
Class N
Actual		$1,000.00		$1,076.00		$2.22	1
Hypothetical (5% return before expenses)		$1,000.00		$1,022.27		$2.56	*

* Hypothetical expenses are equal to the Fund’s annualized expense ratio (after waiver/reimbursement) of 0.51%, multiplied by the average account value over the period, multiplied by the number of days in the most recent fiscal half-year (181), divided by 365 (to reflect the half-year period). Expense ratios do not include the expenses of the underlying funds in which the Fund invests. The annualized expense ratios, as stated in the fee table of the Prospectus, may differ from the expense ratios disclosed in this report.

¹ Fund commenced operations on February 28, 2017. Actual expenses are equal to the Fund’s annualized expense ratio (after waiver/reimbursement) of 0.51%, multiplied by the average account value over the period, multiplied by the number of days in the most recent fiscal period (153), divided by 365 (to reflect the partial period). Expense ratios do not include the expenses of the underlying funds in which the Fund invests. The annualized expense ratios, as stated in the fee table of the Prospectus, may differ from the expense ratios disclosed in this report.

NATIXIS SUSTAINABLE FUTURE 2035 FUND	BEGINNING ACCOUNT VALUE 2/1/20171		ENDING ACCOUNT VALUE 7/31/2017		EXPENSES PAID DURING PERIOD 2/1/20171 – 7/31/2017
Class N
Actual		$1,000.00		$1,084.00		$2.40	1
Hypothetical (5% return before expenses)		$1,000.00		$1,022.07		$2.76	*

* Hypothetical expenses are equal to the Fund’s annualized expense ratio (after waiver/reimbursement) of 0.55%, multiplied by the average account value over the period, multiplied by the number of days in the most recent fiscal half-year (181), divided by 365 (to reflect the half-year period). Expense ratios do not include the expenses of the underlying funds in which the Fund invests. The annualized expense ratios, as stated in the fee table of the Prospectus, may differ from the expense ratios disclosed in this report.

¹ Fund commenced operations on February 28, 2017. Actual expenses are equal to the Fund’s annualized expense ratio (after waiver/reimbursement) of 0.55%, multiplied by the average account value over the period, multiplied by the number of days in the most recent fiscal period (153), divided by 365 (to reflect the partial period). Expense ratios do not include the expenses of the underlying funds in which the Fund invests. The annualized expense ratios, as stated in the fee table of the Prospectus, may differ from the expense ratios disclosed in this report.

NATIXIS SUSTAINABLE FUTURE 2040 FUND	BEGINNING ACCOUNT VALUE 2/1/20171		ENDING ACCOUNT VALUE 7/31/2017		EXPENSES PAID DURING PERIOD 2/1/20171 – 7/31/2017
Class N
Actual		$1,000.00		$1,089.00		$2.58	1
Hypothetical (5% return before expenses)		$1,000.00		$1,021.87		$2.96	*

* Hypothetical expenses are equal to the Fund’s annualized expense ratio (after waiver/reimbursement) of 0.59%, multiplied by the average account value over the period, multiplied by the number of days in the most recent fiscal half-year (181), divided by 365 (to reflect the half-year period). Expense ratios do not include the expenses of the underlying funds in which the Fund invests. The annualized expense ratios, as stated in the fee table of the Prospectus, may differ from the expense ratios disclosed in this report.

¹ Fund commenced operations on February 28, 2017. Actual expenses are equal to the Fund’s annualized expense ratio (after waiver/reimbursement) of 0.59%, multiplied by the average account value over the period, multiplied by the number of days in the most recent fiscal period (153), divided by 365 (to reflect the partial period). Expense ratios do not include the expenses of the underlying funds in which the Fund invests. The annualized expense ratios, as stated in the fee table of the Prospectus, may differ from the expense ratios disclosed in this report.

7  |

NATIXIS SUSTAINABLE FUTURE 2045 FUND	BEGINNING ACCOUNT VALUE 2/1/20171		ENDING ACCOUNT VALUE 7/31/2017		EXPENSES PAID DURING PERIOD 2/1/20171 – 7/31/2017
Class N
Actual		$1,000.00		$1,093.00		$2.68	1
Hypothetical (5% return before expenses)		$1,000.00		$1,021.77		$3.06	*

* Hypothetical expenses are equal to the Fund’s annualized expense ratio (after waiver/reimbursement) of 0.61%, multiplied by the average account value over the period, multiplied by the number of days in the most recent fiscal half-year (181), divided by 365 (to reflect the half-year period). Expense ratios do not include the expenses of the underlying funds in which the Fund invests. The annualized expense ratios, as stated in the fee table of the Prospectus, may differ from the expense ratios disclosed in this report.

¹ Fund commenced operations on February 28, 2017. Actual expenses are equal to the Fund’s annualized expense ratio (after waiver/reimbursement) of 0.61%, multiplied by the average account value over the period, multiplied by the number of days in the most recent fiscal period (153), divided by 365 (to reflect the partial period). Expense ratios do not include the expenses of the underlying funds in which the Fund invests. The annualized expense ratios, as stated in the fee table of the Prospectus, may differ from the expense ratios disclosed in this report.

NATIXIS SUSTAINABLE FUTURE 2050 FUND	BEGINNING ACCOUNT VALUE 2/1/20171		ENDING ACCOUNT VALUE 7/31/2017		EXPENSES PAID DURING PERIOD 2/1/20171 – 7/31/2017
Class N
Actual		$1,000.00		$1,095.00		$2.72	1
Hypothetical (5% return before expenses)		$1,000.00		$1,021.72		$3.11	*

* Hypothetical expenses are equal to the Fund’s annualized expense ratio (after waiver/reimbursement) of 0.62%, multiplied by the average account value over the period, multiplied by the number of days in the most recent fiscal half-year (181), divided by 365 (to reflect the half-year period). Expense ratios do not include the expenses of the underlying funds in which the Fund invests. The annualized expense ratios, as stated in the fee table of the Prospectus, may differ from the expense ratios disclosed in this report.

¹ Fund commenced operations on February 28, 2017. Actual expenses are equal to the Fund’s annualized expense ratio (after waiver/reimbursement) of 0.62%, multiplied by the average account value over the period, multiplied by the number of days in the most recent fiscal period (153), divided by 365 (to reflect the partial period). Expense ratios do not include the expenses of the underlying funds in which the Fund invests. The annualized expense ratios, as stated in the fee table of the Prospectus, may differ from the expense ratios disclosed in this report.

NATIXIS SUSTAINABLE FUTURE 2055 FUND	BEGINNING ACCOUNT VALUE 2/1/20171		ENDING ACCOUNT VALUE 7/31/2017		EXPENSES PAID DURING PERIOD 2/1/20171 – 7/31/2017
Class N
Actual		$1,000.00		$1,095.00		$2.72	1
Hypothetical (5% return before expenses)		$1,000.00		$1,021.72		$3.11	*

* Hypothetical expenses are equal to the Fund’s annualized expense ratio (after waiver/reimbursement) of 0.62%, multiplied by the average account value over the period, multiplied by the number of days in the most recent fiscal half-year (181), divided by 365 (to reflect the half-year period). Expense ratios do not include the expenses of the underlying funds in which the Fund invests. The annualized expense ratios, as stated in the fee table of the Prospectus, may differ from the expense ratios disclosed in this report.

¹ Fund commenced operations on February 28, 2017. Actual expenses are equal to the Fund’s annualized expense ratio (after waiver/reimbursement) of 0.62%, multiplied by the average account value over the period, multiplied by the number of days in the most recent fiscal period (153), divided by 365 (to reflect the partial period). Expense ratios do not include the expenses of the underlying funds in which the Fund invests. The annualized expense ratios, as stated in the fee table of the Prospectus, may differ from the expense ratios disclosed in this report.

NATIXIS SUSTAINABLE FUTURE 2060 FUND	BEGINNING ACCOUNT VALUE 2/1/20171		ENDING ACCOUNT VALUE 7/31/2017		EXPENSES PAID DURING PERIOD 2/1/20171 – 7/31/2017
Class N
Actual		$1,000.00		$1,095.00		$2.72	1
Hypothetical (5% return before expenses)		$1,000.00		$1,021.72		$3.11	*

* Hypothetical expenses are equal to the Fund’s annualized expense ratio (after waiver/reimbursement) of 0.62%, multiplied by the average account value over the period, multiplied by the number of days in the most recent fiscal half-year (181), divided by 365 (to reflect the half-year period). Expense ratios do not include the expenses of the underlying funds in which the Fund invests. The annualized expense ratios, as stated in the fee table of the Prospectus, may differ from the expense ratios disclosed in this report.

¹ Fund commenced operations on February 28, 2017. Actual expenses are equal to the Fund’s annualized expense ratio (after waiver/reimbursement) of 0.62%, multiplied by the average account value over the period, multiplied by the number of days in the most recent fiscal period (153), divided by 365 (to reflect the partial period). Expense ratios do not include the expenses of the underlying funds in which the Fund invests. The annualized expense ratios, as stated in the fee table of the Prospectus, may differ from the expense ratios disclosed in this report.

|  8

BOARD APPROVAL OF THE INITIAL ADVISORY AND SUB-ADVISORY AGREEMENTS FOR THE NATIXIS SUSTAINABLE FUTURE FUNDS

The Investment Company Act of 1940, as amended (the “1940 Act”), requires that both the full Board of Trustees of the Trust and a majority of the Trustees who are not “interested persons” (as defined in the 1940 Act) of the Trust (the “Independent Trustees”), voting separately, initially approve any new investment advisory and sub-advisory agreements for a registered investment company, including a newly formed fund such as the Natixis Sustainable Future 2015 Fund, the Natixis Sustainable Future 2020 Fund, the Natixis Sustainable Future 2025 Fund, the Natixis Sustainable Future 2030 Fund, the Natixis Sustainable Future 2035 Fund, the Natixis Sustainable Future 2040 Fund, the Natixis Sustainable Future 2045 Fund, the Natixis Sustainable Future 2050 Fund, the Natixis Sustainable Future 2055 Fund, and the Natixis Sustainable Future 2060 Fund (each, a “Fund” and together, the “Funds”). The Trustees, including the Independent Trustees, unanimously approved, for an initial two-year term, the proposed investment advisory and sub-advisory agreements (together, the “Agreements”) for the Funds at an in-person meeting held on November 18, 2016.

In connection with this review, Fund management and other representatives of the Funds’ adviser, NGAM Advisors, L.P. (the “Adviser”), and the Funds’ sub-advisers, Natixis Asset Management U.S., LLC (“Natixis AM US”) and Wilshire Associates Incorporated (“Wilshire”, and, together with Natixis AM US, the “Subadvisers”), distributed to the Trustees materials including, among other items, information regarding (i) each Fund’s investment objective, strategies and risks, (ii) the proposed management fees and other expenses to be charged to each Fund, including information comparing each Fund’s expenses and proposed expense cap to those of peer groups and categories of funds, (iii) the size, education and experience of the investment staff of the Adviser and the Subadvisers and the investment strategies proposed to be used in managing the Funds, (iv) proposed arrangements for the distribution of each Fund’s shares, (v) the procedures proposed to be employed to determine the value of each Fund’s assets, (vi) information about the Adviser’s performance, and (vii) the general economic outlook with particular emphasis on the mutual fund industry.

The Trustees considered the fact that they oversee other funds advised by the Adviser and Natixis AM US as well as information about the Adviser and Natixis AM US they had received in connection with their oversight of those other funds. Because each Fund is newly formed and had not commenced operations at the time of the Trustees’ review, certain information, including data relating to Fund performance, was not available, and therefore could not be distributed to the Trustees. Throughout the process, the Trustees were afforded the opportunity to ask questions of, and request additional materials from, the Adviser and the Subadvisers.

In considering whether to initially approve the Agreements, the Board of Trustees, including the Independent Trustees, did not identify any single factor as determinative. Individual Trustees may have evaluated the information presented differently from one another, giving weight to various factors. Matters considered by the Trustees, including the Independent Trustees, in connection with their approval of the Agreements included, but were not limited to, the factors listed below:

The nature, extent and quality of the services to be provided to the Funds under the Agreements. The Trustees considered the nature, extent and quality of the services to be provided by the Adviser, the Subadvisers and the Adviser’s affiliates to the Funds, and the resources to be dedicated to the Funds by the Adviser, the Subadvisers and the Adviser’s affiliates. The Trustees also considered their experience with other funds advised or sub-advised by the Adviser and Natixis AM US, as well as the affiliation between the Adviser and Natixis Global Asset Management, L.P. (“Natixis US”), whose affiliates provide investment advisory services to other funds in the Natixis family of mutual funds. In this regard, the Trustees considered not only the advisory and sub-advisory services proposed to be provided by the Adviser and the Subadvisers to the Funds, but also the monitoring and administrative services proposed to be provided by the Adviser and its affiliates to the Funds. They also considered Wilshire’s specialized expertise in creating “glide paths” and providing investment allocation services.

The Trustees also considered the benefits to shareholders of investing in mutual funds that are part of a family of funds that offers shareholders the right to exchange shares of one type of fund for shares of another type of fund, and provides a variety of fund and shareholder services.

After reviewing these and related factors, the Trustees concluded, within the context of their overall conclusions regarding the Agreements, that the scope of the services to be provided to the Funds under the Agreements seemed consistent with the Funds’ operational requirements, and that the Adviser and the Subadvisers had the capabilities, resources and personnel necessary to provide the advisory and sub-advisory services that would be required by each Fund. The Trustees determined that the nature, extent and quality of services proposed to be provided under the Agreements supported approval of the Agreements.

Investment performance of the Fund, the Adviser and the Subadvisers. Because each Fund had not yet commenced operations, performance information for each Fund was not considered; however, the Board considered the performance of other funds and accounts managed by the Adviser and Natixis AM US.

The Trustees also considered the Adviser’s and the Subadvisers’ performance and reputation generally, the performance of the fund family generally, and the historical responsiveness of the Adviser to Trustee concerns about performance and the willingness of the Adviser to take steps intended to improve performance.

9  |

Based on this and other information, the Trustees concluded, within the context of their overall conclusions regarding the Agreements, that these relevant factors supported approval of the Agreements.

The costs of the services to be provided by the Adviser and its affiliates and the profits to be realized by the Adviser and its affiliates from its relationship with each Fund. Although each Fund had not yet commenced operations at the time of the Trustees’ review of the Agreements, the Trustees reviewed information comparing the proposed advisory and sub-advisory fees and estimated total expenses of each Fund’s share classes with the fees and expenses of comparable share classes of comparable funds identified by the Adviser, including information about how those funds were selected and information about differences in such fees. The Trustees also noted that the Adviser and the Subadvisers do not advise or sub-advise any other accounts or funds pursuing each Fund’s proposed strategy. In evaluating each Fund’s proposed advisory and sub-advisory fees, the Trustees also took into account the demands, complexity and quality of the investment management of each Fund. The Trustees also noted that each Fund would have an expense cap in place. In addition, the Trustees considered information regarding the administrative fees to be paid by each Fund to the Adviser’s affiliates.

Because each Fund had not yet commenced operations, historical profitability information with respect to each Fund was not considered. However, the Trustees noted the information provided in court cases in which adviser profitability was an issue, the estimated expense level of each Fund, and that each Fund would be subject to an expense cap.

After reviewing these and related factors, the Trustees concluded, within the context of their overall conclusions regarding the Agreements, that the advisory and sub-advisory fees and expenses proposed to be charged to each Fund were fair and reasonable, and supported the approval of the Agreements.

Economies of scale. The Trustees considered the extent to which the Adviser and the Subadvisers may realize economies of scale or other efficiencies in managing each Fund, and whether those economies could be shared with each Fund through breakpoints in the advisory and sub-advisory fees or other means, such as expense waivers or caps. The Trustees noted that each Fund will be subject to an expense cap. After reviewing these and related factors, the Trustees concluded, within the context of their overall conclusions regarding the Agreements, that the extent to which economies of scale might be shared with each Fund supported the approval of the Agreements.

The Trustees also considered other factors, which included but were not limited to the following:

· The compliance-related resources the Adviser, the Subadvisers and the Adviser’s affiliates would provide to each Fund.

· The nature, quality, cost and extent of administrative and shareholder services to be performed by the Adviser and its affiliates, both under the Agreements and under separate agreements covering administrative services.

· So-called “fallout benefits” to the Adviser and its affiliates, such as the engagement of affiliates of the Adviser to provide distribution and administrative services to each Fund, the benefits to Natixis US and the Adviser of being able to offer “target date” funds and funds that focus on environmental, social and governance factors in the Natixis family of funds, and the benefits of research made available to the Adviser by reason of brokerage commissions (if any) generated by each Fund’s securities transactions. The Trustees also considered the benefits to the Natixis organization from the retention of the Adviser and Natixis AM US. The Trustees considered the possible conflicts of interest associated with these fallout and other benefits, and the reporting, disclosure and other processes in place to disclose and monitor such possible conflicts of interest.

Based on their evaluation of all factors that they deemed to be material, including those factors described above, and assisted by the advice of independent counsel, the Trustees, including the Independent Trustees, concluded that the Agreements should be approved.

|  10

Portfolio of Investments – as of July 31, 2017 (Unaudited)

Natixis Sustainable Future 2015 Fund

Shares		Description	Value (†)
	Common Stocks — 47.9% of Net Assets
		Aerospace & Defense — 0.0%
	49	Arconic, Inc.	$	1,215
		Air Freight & Logistics — 0.0%
	10	United Parcel Service, Inc., Class B		1,103
		Auto Components — 1.4%
	14	BorgWarner, Inc.		654
	385	Delphi Automotive PLC		34,812
	11	Goodyear Tire & Rubber Co. (The)		347
	624	Valeo S.A., Sponsored ADR		21,653
				57,466
		Automobiles — 1.2%
	1,155	Byd Co. Ltd., ADR		14,438
	215	Ford Motor Co.		2,412
	306	Toyota Motor Corp., Sponsored ADR		34,529
				51,379
		Banks — 2.7%
	518	Bank of America Corp.		12,494
	153	Citigroup, Inc.		10,473
	85	Citizens Financial Group, Inc.		2,982
	174	Huntington Bancshares, Inc.		2,306
	1,183	KBC Group NV, Sponsored ADR		48,858
	180	KeyCorp		3,247
	547	People’s United Financial, Inc.		9,540
	147	Signature Bank(b)		20,371
	64	Zions Bancorporation		2,900
				113,171
		Beverages — 0.5%
	69	Brown-Forman Corp., Class B		3,409
	175	Coca-Cola Co. (The)		8,022
	4	Dr Pepper Snapple Group, Inc.		365
	18	Molson Coors Brewing Co., Class B		1,602
	23	Monster Beverage Corp.(b)		1,213
	58	PepsiCo, Inc.		6,763
				21,374
		Biotechnology — 0.5%
	16	AbbVie, Inc.		1,119
	14	Amgen, Inc.		2,443
	225	Gilead Sciences, Inc.		17,120
				20,682
		Building Products — 1.2%
	649	A.O. Smith Corp.		34,754
	55	Fortune Brands Home & Security, Inc.		3,612
	287	Johnson Controls International PLC		11,178
				49,544
		Capital Markets — 1.5%
	8	Affiliated Managers Group, Inc.		1,487
	11	Ameriprise Financial, Inc.		1,594
	151	Bank of New York Mellon Corp. (The)		8,008
	14	BlackRock, Inc.		5,971
	25	Charles Schwab Corp. (The)		1,072
	31	CME Group, Inc.		3,801
	105	Franklin Resources, Inc.		4,702
	40	Goldman Sachs Group, Inc. (The)		9,013
	17	Intercontinental Exchange, Inc.		1,134
	43	Invesco Ltd.		1,495
	13	Legg Mason, Inc.		520
	9	Moody’s Corp.		1,185
	20	Nasdaq, Inc.		1,487
	66	Northern Trust Corp.		5,776
	8	S&P Global, Inc.		1,229

See accompanying notes to financial statements.

11  |

Portfolio of Investments – as of July 31, 2017 (Unaudited)

Natixis Sustainable Future 2015 Fund – (continued)

Shares		Description	Value (†)
		Capital Markets — continued
	56	State Street Corp.	$	5,221
	110	T. Rowe Price Group, Inc.		9,099
				62,794
		Chemicals — 3.2%
	16	Air Products & Chemicals, Inc.		2,274
	459	Chr. Hansen Holding AS, Sponsored ADR		18,672
	66	Dow Chemical Co. (The)		4,240
	56	E.I. du Pont de Nemours & Co.		4,604
	290	Ecolab, Inc.		38,184
	112	International Flavors & Fragrances, Inc.		14,916
	263	Novozymes AS, Sponsored ADR		12,145
	61	Praxair, Inc.		7,940
	1,854	Symrise AG, Sponsored ADR		32,334
				135,309
		Commercial Services & Supplies — 0.0%
	72	Pitney Bowes, Inc.		1,133
	11	Stericycle, Inc.(b)		848
				1,981
		Communications Equipment — 0.3%
	322	Cisco Systems, Inc.		10,127
	13	Motorola Solutions, Inc.		1,179
				11,306
		Construction & Engineering — 0.0%
	35	Fluor Corp.		1,520
		Consumer Finance — 0.2%
	51	American Express Co.		4,347
	36	Navient Corp.		531
	69	Synchrony Financial		2,092
				6,970
		Containers & Packaging — 0.2%
	14	Avery Dennison Corp.		1,301
	84	Ball Corp.		3,520
	57	International Paper Co.		3,134
				7,955
		Distributors — 0.0%
	10	Genuine Parts Co.		849
		Diversified Consumer Services — 0.0%
	17	H&R Block, Inc.		519
		Diversified Telecommunication Services — 1.1%
	460	AT&T, Inc.		17,940
	1,121	Deutsche Telekom AG, Sponsored ADR		20,458
	189	Verizon Communications, Inc.		9,148
				47,546
		Electric Utilities — 1.1%
	24	Eversource Energy		1,459
	311	NextEra Energy, Inc.		45,434
				46,893
		Electrical Equipment — 2.3%
	167	Acuity Brands, Inc.		33,842
	451	Eaton Corp. PLC		35,291
	789	Vestas Wind Systems AS, Sponsored ADR		25,639
				94,772
		Electronic Equipment, Instruments & Components — 0.0%
	17	TE Connectivity Ltd.		1,367
		Food & Staples Retailing — 0.2%
	67	CVS Health Corp.		5,355
	87	Sysco Corp.		4,578
				9,933

See accompanying notes to financial statements.

|  12

Portfolio of Investments – as of July 31, 2017 (Unaudited)

Natixis Sustainable Future 2015 Fund – (continued)

Shares		Description	Value (†)
		Food Products — 0.6%
	72	Archer-Daniels-Midland Co.	$	3,037
	14	Campbell Soup Co.		740
	60	Conagra Brands, Inc.		2,054
	28	General Mills, Inc.		1,558
	5	Hershey Co. (The)		526
	18	Hormel Foods Corp.		615
	14	J.M. Smucker Co. (The)		1,707
	38	Kellogg Co.		2,584
	36	Kraft Heinz Co. (The)		3,149
	142	Mondelez International, Inc., Class A		6,251
	14	Tyson Foods, Inc., Class A		887
				23,108
		Health Care Equipment & Supplies — 3.2%
	79	Abbott Laboratories		3,885
	72	Baxter International, Inc.		4,355
	1,487	Coloplast AS, Sponsored ADR		12,699
	10	Cooper Cos., Inc. (The)		2,439
	559	Danaher Corp.		45,553
	687	Essilor International S.A., Sponsored ADR		43,559
	10	Hologic, Inc.(b)		442
	258	Medtronic PLC		21,664
				134,596
		Health Care Providers & Services — 0.6%
	8	Aetna, Inc.		1,235
	4	AmerisourceBergen Corp.		375
	25	Anthem, Inc.		4,655
	5	Cardinal Health, Inc.		386
	8	Centene Corp.(b)		635
	21	Cigna Corp.		3,645
	28	DaVita, Inc.(b)		1,814
	8	Envision Healthcare Corp.(b)		451
	40	Express Scripts Holding Co.(b)		2,506
	23	HCA Healthcare, Inc.(b)		1,848
	5	Humana, Inc.		1,156
	2	Laboratory Corp. of America Holdings(b)		318
	13	McKesson Corp.		2,104
	11	Quest Diagnostics, Inc.		1,191
	15	UnitedHealth Group, Inc.		2,877
	3	Universal Health Services, Inc., Class B		333
				25,529
		Home Construction — 0.4%
	319	Geberit AG, ADR	��	15,235
		Hotels, Restaurants & Leisure — 0.3%
	10	Carnival Corp.		668
	63	McDonald’s Corp.		9,774
	23	Starbucks Corp.		1,241
	14	Wyndham Worldwide Corp.		1,461
				13,144
		Household Durables — 0.6%
	8	Lennar Corp., Class A		420
	1,534	Sekisui House Ltd., Sponsored ADR		26,845
				27,265
		Household Products — 0.4%
	8	Church & Dwight Co., Inc.		427
	17	Clorox Co. (The)		2,269
	59	Colgate-Palmolive Co.		4,260
	126	Procter & Gamble Co. (The)		11,443
				18,399

See accompanying notes to financial statements.

13  |

Portfolio of Investments – as of July 31, 2017 (Unaudited)

Natixis Sustainable Future 2015 Fund – (continued)

Shares		Description	Value (†)
		Independent Power & Renewable Electricity Producers — 0.2%
	104	Ormat Technologies, Inc.	$	6,167
	85	Pattern Energy Group, Inc.		2,134
				8,301
		Industrial Conglomerates — 1.5%
	75	3M Co.		15,088
	312	General Electric Co.		7,990
	179	Roper Technologies, Inc.		41,610
				64,688
		Insurance — 3.6%
	27	Aflac, Inc.		2,153
	1,401	AIA Group Ltd., Sponsored ADR		44,272
	817	Allianz SE, Sponsored ADR		17,443
	5	Allstate Corp. (The)		455
	68	Hartford Financial Services Group, Inc. (The)		3,740
	1,363	Legal & General Group PLC, Sponsored ADR		24,534
	122	MetLife, Inc.		6,710
	63	Prudential Financial, Inc.		7,133
	680	Prudential PLC, Sponsored ADR		33,300
	98	Torchmark Corp.		7,739
	62	Unum Group		3,108
				150,587
		Internet & Direct Marketing Retail — 1.0%
	37	Amazon.com, Inc.(b)		36,548
	7	Netflix, Inc.(b)		1,272
	1	Priceline Group, Inc. (The)(b)		2,028
	8	TripAdvisor, Inc.(b)		312
				40,160
		Internet Software & Services — 3.8%
	77	Alphabet, Inc., Class A(b)		72,803
	2	Alphabet, Inc., Class C(b)		1,861
	9	Cars.com, Inc.(b)		211
	22	eBay, Inc.(b)		786
	299	Facebook, Inc., Class A(b)		50,606
	895	Tencent Holdings Ltd., ADR		35,764
				162,031
		IT Services — 2.9%
	8	Accenture PLC, Class A		1,031
	32	Cognizant Technology Solutions Corp., Class A		2,218
	19	CSRA, Inc.		620
	47	International Business Machines Corp.		6,799
	280	MasterCard, Inc., Class A		35,784
	24	PayPal Holdings, Inc.(b)		1,405
	716	Visa, Inc., Class A		71,285
	55	Western Union Co. (The)		1,086
				120,228
		Leisure Products — 0.0%
	10	Hasbro, Inc.		1,059
		Life Sciences Tools & Services — 1.6%
	20	Agilent Technologies, Inc.		1,196
	41	Illumina, Inc.(b)		7,128
	326	Thermo Fisher Scientific, Inc.		57,222
				65,546
		Machinery — 0.7%
	66	Caterpillar, Inc.		7,521
	58	Deere & Co.		7,440
	23	Flowserve Corp.		946
	21	Parker Hannifin Corp.		3,486
	113	Watts Water Technologies, Inc., Series A		7,277
	50	Xylem, Inc.		2,836
				29,506

See accompanying notes to financial statements.

|  14

Portfolio of Investments – as of July 31, 2017 (Unaudited)

Natixis Sustainable Future 2015 Fund – (continued)

Shares		Description	Value (†)
		Media — 0.4%
	17	CBS Corp., Class B	$	1,119
	16	Interpublic Group of Cos., Inc. (The)		346
	58	News Corp., Class A		830
	5	Omnicom Group, Inc.		393
	26	TEGNA, Inc.		385
	33	Twenty-First Century Fox, Inc., Class B		947
	108	Twenty-First Century Fox, Inc., Class A		3,143
	89	Walt Disney Co. (The)		9,784
				16,947
		Metals & Mining — 0.0%
	22	Newmont Mining Corp.		818
		Multiline Retail — 0.0%
	16	Kohl’s Corp.		661
	7	Target Corp.		397
				1,058
		Personal Products — 0.7%
	11	Estee Lauder Cos., Inc. (The), Class A		1,089
	495	Unilever NV		28,794
				29,883
		Pharmaceuticals — 2.1%
	26	Allergan PLC		6,561
	71	Bristol-Myers Squibb Co.		4,040
	53	Eli Lilly & Co.		4,381
	97	Johnson & Johnson		12,874
	112	Merck & Co., Inc.		7,155
	66	Mylan NV(b)		2,573
	986	Novo Nordisk AS, Sponsored ADR		41,806
	294	Pfizer, Inc.		9,749
	19	Zoetis, Inc.		1,188
				90,327
		Professional Services — 0.0%
	17	Verisk Analytics, Inc.(b)		1,483
		Real Estate Management & Development — 0.1%
	58	CBRE Group, Inc., Class A(b)		2,203
		REITs – Apartments — 0.2%
	6	AvalonBay Communities, Inc.		1,154
	44	Equity Residential		2,995
	8	Essex Property Trust, Inc.		2,093
	4	Mid-America Apartment Communities, Inc.		414
				6,656
		REITs – Diversified — 0.4%
	101	Crown Castle International Corp.		10,159
	9	Digital Realty Trust, Inc.		1,038
	20	Vornado Realty Trust		1,587
	92	Weyerhaeuser Co.		3,038
				15,822
		REITs – Health Care — 0.1%
	41	HCP, Inc.		1,297
	42	Ventas, Inc.		2,829
				4,126
		REITs – Office Property — 0.1%
	15	Boston Properties, Inc.		1,813
	10	JBG SMITH Properties(b)		355
				2,168
		REITs – Regional Malls — 0.1%
	8	Macerich Co. (The)		459
	13	Simon Property Group, Inc.		2,061
				2,520

See accompanying notes to financial statements.

15  |

Portfolio of Investments – as of July 31, 2017 (Unaudited)

Natixis Sustainable Future 2015 Fund – (continued)

Shares		Description	Value (†)
		REITs – Specialty & Other — 0.1%
	3	Equinix, Inc.	$	1,352
	29	Iron Mountain, Inc.		1,057
				2,409
		REITs – Storage — 0.1%
	16	Public Storage		3,289
		Road & Rail — 0.4%
	53	CSX Corp.		2,615
	34	Kansas City Southern		3,508
	43	Norfolk Southern Corp.		4,841
	61	Union Pacific Corp.		6,281
				17,245
		Semiconductors & Semiconductor Equipment — 0.7%
	13	Advanced Micro Devices, Inc.(b)		177
	102	ASML Holding NV, (Registered)		15,334
	27	First Solar, Inc.(b)		1,331
	222	Intel Corp.		7,874
	43	Micron Technology, Inc.(b)		1,209
	10	NVIDIA Corp.		1,625
	21	QUALCOMM, Inc.		1,117
	13	Texas Instruments, Inc.		1,058
	7	Xilinx, Inc.		443
				30,168
		Software — 1.8%
	9	Autodesk, Inc.(b)		997
	143	Ellie Mae, Inc.(b)		12,472
	774	Microsoft Corp.		56,270
	136	Oracle Corp.		6,791
	10	Symantec Corp.		310
				76,840
		Specialty Retail — 0.1%
	9	Best Buy Co., Inc.		525
	22	Home Depot, Inc. (The)		3,291
	14	Lowe’s Cos., Inc.		1,084
	42	Staples, Inc.		426
	8	Tiffany & Co.		764
				6,090
		Technology Hardware, Storage & Peripherals — 0.3%
	43	Apple, Inc.		6,395
	25	NetApp, Inc.		1,086
	7	Seagate Technology PLC		231
	24	Western Digital Corp.		2,043
	33	Xerox Corp.		1,004
				10,759
		Textiles, Apparel & Luxury Goods — 0.6%
	2,388	Cie Financiere Richemont S.A., Sponsored ADR		20,226
	40	Hanesbrands, Inc.		917
	56	NIKE, Inc., Class B		3,307
	7	PVH Corp.		835
	8	VF Corp.		498
				25,783
		Trading Companies & Distributors — 0.1%
	45	Fastenal Co.		1,933
	13	W.W. Grainger, Inc.		2,168
				4,101
		Water Utilities — 0.5%
	258	American Water Works Co., Inc.		20,924
		Total Common Stocks (Identified Cost $1,843,447)		2,016,649

See accompanying notes to financial statements.

|  16

Portfolio of Investments – as of July 31, 2017 (Unaudited)

Natixis Sustainable Future 2015 Fund – (continued)

Shares		Description	Value (†)
	Affiliated Mutual Funds — 49.1%
	36,607	Loomis Sayles Inflation Protected Securities Fund, Class N	$	380,714
	44,466	Loomis Sayles Limited Term Government and Agency Fund, Class N		506,023
	117,150	Mirova Global Green Bond Fund, Class N(b)		1,183,219
		Total Affiliated Mutual Funds (Identified Cost $2,062,365)		2,069,956
	Closed-End Investment Companies — 0.0%
	15	Altaba, Inc.(b) (Identified Cost $822)		876
		Total Investments – 97.0% (Identified Cost $3,906,634)(a)		4,087,481
		Other assets less liabilities — 3.0%		127,584
		Net Assets — 100.0%	$	4,215,065
	(†)	See Note 2 of Notes to Financial Statements.
	(a)	Federal Tax Information (Amounts exclude certain adjustments that will be made at the end of the Fund’s fiscal year for tax purposes. Such adjustments are primarily due to wash sales.):
		At July 31, 2017, the net unrealized appreciation on investments based on a cost of $3,906,634 for federal income tax purposes was as follows:
		Aggregate gross unrealized appreciation for all investments in which there is an excess of value over tax cost	$	206,074
		Aggregate gross unrealized depreciation for all investments in which there is an excess of tax cost over value		(25,227	)
		Net unrealized appreciation	$	180,847
	(b)	Non-income producing security.
	ADR	An American Depositary Receipt is a certificate issued by a custodian bank representing the right to receive securities of the foreign issuer described. The values of ADRs may be significantly influenced by trading on exchanges not located in the United States.
	REITs	Real Estate Investment Trusts

Industry Summary at July 31, 2017 (Unaudited)

Affiliated Mutual Funds	49.1	%
Internet Software & Services	3.8
Insurance	3.6
Chemicals	3.2
Health Care Equipment & Supplies	3.2
IT Services	2.9
Banks	2.7
Electrical Equipment	2.3
Pharmaceuticals	2.1
Other Investments, less than 2% each	24.1
Total Investments	97.0
Other assets less liabilities	3.0
Net Assets	100.0	%

Asset Allocation Summary at July 31, 2017 (Unaudited)

Equity	47.9	%
Fixed-Income	49.1
Total Investments	97.0
Other assets less liabilities	3.0
Net Assets	100.0	%

See accompanying notes to financial statements.

17  |

Portfolio of Investments – as of July 31, 2017 (Unaudited)

Natixis Sustainable Future 2020 Fund

Shares		Description	Value (†)
	Common Stocks — 55.0% of Net Assets
		Aerospace & Defense — 0.0%
	54	Arconic, Inc.	$	1,339
		Air Freight & Logistics — 0.0%
	12	United Parcel Service, Inc., Class B		1,324
		Auto Components — 1.7%
	16	BorgWarner, Inc.		748
	471	Delphi Automotive PLC		42,588
	12	Goodyear Tire & Rubber Co. (The)		378
	769	Valeo S.A., Sponsored ADR		26,684
				70,398
		Automobiles — 1.4%
	1,330	Byd Co. Ltd., ADR		16,625
	236	Ford Motor Co.		2,648
	364	Toyota Motor Corp., Sponsored ADR		41,074
				60,347
		Banks — 3.1%
	528	Bank of America Corp.		12,735
	168	Citigroup, Inc.		11,500
	101	Citizens Financial Group, Inc.		3,543
	206	Huntington Bancshares, Inc.		2,730
	1,405	KBC Group NV, Sponsored ADR		58,026
	213	KeyCorp		3,843
	580	People’s United Financial, Inc.		10,115
	175	Signature Bank(b)		24,251
	75	Zions Bancorporation		3,399
				130,142
		Beverages — 0.5%
	79	Brown-Forman Corp., Class B		3,903
	173	Coca-Cola Co. (The)		7,930
	5	Dr Pepper Snapple Group, Inc.		456
	19	Molson Coors Brewing Co., Class B		1,691
	27	Monster Beverage Corp.(b)		1,424
	64	PepsiCo, Inc.		7,463
				22,867
		Biotechnology — 0.6%
	19	AbbVie, Inc.		1,328
	16	Amgen, Inc.		2,792
	260	Gilead Sciences, Inc.		19,784
				23,904
		Building Products — 1.3%
	771	A.O. Smith Corp.		41,287
	64	Fortune Brands Home & Security, Inc.		4,203
	291	Johnson Controls International PLC		11,334
				56,824
		Capital Markets — 1.5%
	9	Affiliated Managers Group, Inc.		1,673
	12	Ameriprise Financial, Inc.		1,739
	148	Bank of New York Mellon Corp. (The)		7,849
	15	BlackRock, Inc.		6,398
	30	Charles Schwab Corp. (The)		1,287
	29	CME Group, Inc.		3,556
	117	Franklin Resources, Inc.		5,239
	44	Goldman Sachs Group, Inc. (The)		9,915
	20	Intercontinental Exchange, Inc.		1,334
	48	Invesco Ltd.		1,669
	15	Legg Mason, Inc.		600
	10	Moody’s Corp.		1,316
	21	Nasdaq, Inc.		1,562
	65	Northern Trust Corp.		5,688

See accompanying notes to financial statements.

|  18

Portfolio of Investments – as of July 31, 2017 (Unaudited)

Natixis Sustainable Future 2020 Fund – (continued)

Shares		Description	Value (†)
		Capital Markets — continued
	9	S&P Global, Inc.	$	1,382
	54	State Street Corp.		5,034
	110	T. Rowe Price Group, Inc.		9,099
				65,340
		Chemicals — 3.8%
	17	Air Products & Chemicals, Inc.		2,417
	574	Chr. Hansen Holding AS, Sponsored ADR		23,350
	72	Dow Chemical Co. (The)		4,625
	63	E.I. du Pont de Nemours & Co.		5,179
	343	Ecolab, Inc.		45,163
	129	International Flavors & Fragrances, Inc.		17,180
	302	Novozymes AS, Sponsored ADR		13,947
	67	Praxair, Inc.		8,721
	2,203	Symrise AG, Sponsored ADR		38,420
				159,002
		Commercial Services & Supplies — 0.1%
	80	Pitney Bowes, Inc.		1,259
	12	Stericycle, Inc.(b)		925
				2,184
		Communications Equipment — 0.3%
	345	Cisco Systems, Inc.		10,850
	15	Motorola Solutions, Inc.		1,360
				12,210
		Construction & Engineering — 0.0%
	38	Fluor Corp.		1,650
		Consumer Finance — 0.2%
	48	American Express Co.		4,091
	40	Navient Corp.		590
	53	Synchrony Financial		1,607
				6,288
		Containers & Packaging — 0.2%
	15	Avery Dennison Corp.		1,394
	94	Ball Corp.		3,938
	62	International Paper Co.		3,409
				8,741
		Distributors — 0.0%
	11	Genuine Parts Co.		934
		Diversified Consumer Services — 0.0%
	18	H&R Block, Inc.		549
		Diversified Telecommunication Services — 1.3%
	477	AT&T, Inc.		18,603
	1,332	Deutsche Telekom AG, Sponsored ADR		24,309
	211	Verizon Communications, Inc.		10,212
				53,124
		Electric Utilities — 1.3%
	28	Eversource Energy		1,702
	369	NextEra Energy, Inc.		53,907
				55,609
		Electrical Equipment — 2.6%
	198	Acuity Brands, Inc.		40,125
	533	Eaton Corp. PLC		41,707
	937	Vestas Wind Systems AS, Sponsored ADR		30,448
				112,280
		Electronic Equipment, Instruments & Components — 0.0%
	20	TE Connectivity Ltd.		1,608
		Food & Staples Retailing — 0.3%
	76	CVS Health Corp.		6,075

See accompanying notes to financial statements.

19  |

Portfolio of Investments – as of July 31, 2017 (Unaudited)

Natixis Sustainable Future 2020 Fund – (continued)

Shares		Description	Value (†)
		Food & Staples Retailing — continued
	99	Sysco Corp.	$	5,209
				11,284
		Food Products — 0.6%
	79	Archer-Daniels-Midland Co.		3,332
	15	Campbell Soup Co.		792
	66	Conagra Brands, Inc.		2,260
	31	General Mills, Inc.		1,726
	6	Hershey Co. (The)		632
	20	Hormel Foods Corp.		683
	15	J.M. Smucker Co. (The)		1,829
	43	Kellogg Co.		2,924
	40	Kraft Heinz Co. (The)		3,498
	144	Mondelez International, Inc., Class A		6,339
	15	Tyson Foods, Inc., Class A		950
				24,965
		Health Care Equipment & Supplies — 3.7%
	90	Abbott Laboratories		4,426
	66	Baxter International, Inc.		3,992
	1,713	Coloplast AS, Sponsored ADR		14,629
	11	Cooper Cos., Inc. (The)		2,683
	660	Danaher Corp.		53,783
	816	Essilor International S.A., Sponsored ADR		51,738
	11	Hologic, Inc.(b)		486
	308	Medtronic PLC		25,863
				157,600
		Health Care Providers & Services — 0.7%
	9	Aetna, Inc.		1,389
	5	AmerisourceBergen Corp.		469
	28	Anthem, Inc.		5,214
	5	Cardinal Health, Inc.		386
	8	Centene Corp.(b)		635
	19	Cigna Corp.		3,298
	30	DaVita, Inc.(b)		1,943
	7	Envision Healthcare Corp.(b)		395
	45	Express Scripts Holding Co.(b)		2,819
	26	HCA Healthcare, Inc.(b)		2,089
	6	Humana, Inc.		1,387
	3	Laboratory Corp. of America Holdings(b)		477
	14	McKesson Corp.		2,266
	12	Quest Diagnostics, Inc.		1,300
	17	UnitedHealth Group, Inc.		3,261
	3	Universal Health Services, Inc., Class B		332
				27,660
		Home Construction — 0.4%
	368	Geberit AG, ADR		17,576
		Hotels, Restaurants & Leisure — 0.3%
	11	Carnival Corp.		735
	70	McDonald’s Corp.		10,860
	27	Starbucks Corp.		1,457
	14	Wyndham Worldwide Corp.		1,461
				14,513
		Household Durables — 0.8%
	9	Lennar Corp., Class A		472
	1,823	Sekisui House Ltd., Sponsored ADR		31,903
				32,375
		Household Products — 0.5%
	9	Church & Dwight Co., Inc.		480
	14	Clorox Co. (The)		1,869
	65	Colgate-Palmolive Co.		4,693
	142	Procter & Gamble Co. (The)		12,896
				19,938

See accompanying notes to financial statements.

|  20

Portfolio of Investments – as of July 31, 2017 (Unaudited)

Natixis Sustainable Future 2020 Fund – (continued)

Shares		Description	Value (†)
		Independent Power & Renewable Electricity Producers — 0.2%
��	122	Ormat Technologies, Inc.	$	7,235
	101	Pattern Energy Group, Inc.		2,535
				9,770
		Industrial Conglomerates — 1.8%
	84	3M Co.		16,898
	313	General Electric Co.		8,016
	213	Roper Technologies, Inc.		49,514
				74,428
		Insurance — 4.2%
	32	Aflac, Inc.		2,552
	1,665	AIA Group Ltd., Sponsored ADR		52,614
	941	Allianz SE, Sponsored ADR		20,090
	4	Allstate Corp. (The)		364
	76	Hartford Financial Services Group, Inc. (The)		4,180
	1,694	Legal & General Group PLC, Sponsored ADR		30,492
	137	MetLife, Inc.		7,535
	70	Prudential Financial, Inc.		7,926
	807	Prudential PLC, Sponsored ADR		39,519
	98	Torchmark Corp.		7,739
	68	Unum Group		3,409
				176,420
		Internet & Direct Marketing Retail — 1.1%
	44	Amazon.com, Inc.(b)		43,462
	8	Netflix, Inc.(b)		1,453
	1	Priceline Group, Inc. (The)(b)		2,029
	8	TripAdvisor, Inc.(b)		312
				47,256
		Internet Software & Services — 4.6%
	92	Alphabet, Inc., Class A(b)		86,986
	2	Alphabet, Inc., Class C(b)		1,861
	9	Cars.com, Inc.(b)		219
	24	eBay, Inc.(b)		857
	355	Facebook, Inc., Class A(b)		60,084
	1,097	Tencent Holdings Ltd., ADR		43,836
				193,843
		IT Services — 3.3%
	9	Accenture PLC, Class A		1,159
	36	Cognizant Technology Solutions Corp., Class A		2,496
	20	CSRA, Inc.		652
	53	International Business Machines Corp.		7,668
	331	MasterCard, Inc., Class A		42,302
	28	PayPal Holdings, Inc.(b)		1,639
	849	Visa, Inc., Class A		84,526
	61	Western Union Co. (The)		1,205
				141,647
		Leisure Products — 0.0%
	12	Hasbro, Inc.		1,271
		Life Sciences Tools & Services — 1.8%
	24	Agilent Technologies, Inc.		1,435
	47	Illumina, Inc.(b)		8,171
	387	Thermo Fisher Scientific, Inc.		67,930
				77,536
		Machinery — 0.8%
	65	Caterpillar, Inc.		7,407
	66	Deere & Co.		8,466
	27	Flowserve Corp.		1,110
	19	Parker Hannifin Corp.		3,154
	130	Watts Water Technologies, Inc., Series A		8,372
	59	Xylem, Inc.		3,347
				31,856

See accompanying notes to financial statements.

21  |

Portfolio of Investments – as of July 31, 2017 (Unaudited)

Natixis Sustainable Future 2020 Fund – (continued)

Shares		Description	Value (†)
		Media — 0.4%
	20	CBS Corp., Class B	$	1,317
	18	Interpublic Group of Cos., Inc. (The)		389
	64	News Corp., Class A		916
	5	Omnicom Group, Inc.		394
	28	TEGNA, Inc.		415
	123	Twenty-First Century Fox, Inc., Class A		3,579
	40	Twenty-First Century Fox, Inc., Class B		1,148
	95	Walt Disney Co. (The)		10,443
				18,601
		Metals & Mining — 0.0%
	26	Newmont Mining Corp.		966
		Multiline Retail — 0.0%
	17	Kohl’s Corp.		703
	8	Target Corp.		453
				1,156
		Personal Products — 0.8%
	13	Estee Lauder Cos., Inc. (The), Class A		1,287
	588	Unilever NV		34,204
				35,491
		Pharmaceuticals — 2.4%
	27	Allergan PLC		6,813
	81	Bristol-Myers Squibb Co.		4,609
	50	Eli Lilly & Co.		4,133
	97	Johnson & Johnson		12,874
	128	Merck & Co., Inc.		8,177
	73	Mylan NV(b)		2,846
	1,171	Novo Nordisk AS, Sponsored ADR		49,650
	311	Pfizer, Inc.		10,313
	23	Zoetis, Inc.		1,438
				100,853
		Professional Services — 0.0%
	20	Verisk Analytics, Inc.(b)		1,745
		Real Estate Management & Development — 0.1%
	66	CBRE Group, Inc., Class A(b)		2,507
		REITs – Apartments — 0.2%
	7	AvalonBay Communities, Inc.		1,347
	50	Equity Residential		3,403
	9	Essex Property Trust, Inc.		2,355
	4	Mid-America Apartment Communities, Inc.		414
				7,519
		REITs – Diversified — 0.4%
	112	Crown Castle International Corp.		11,265
	10	Digital Realty Trust, Inc.		1,153
	22	Vornado Realty Trust		1,746
	103	Weyerhaeuser Co.		3,401
				17,565
		REITs – Health Care — 0.1%
	45	HCP, Inc.		1,424
	36	Ventas, Inc.		2,425
				3,849
		REITs – Office Property — 0.1%
	17	Boston Properties, Inc.		2,056
	11	JBG SMITH Properties(b)		390
				2,446
		REITs – Regional Malls — 0.1%
	7	Macerich Co. (The)		402
	15	Simon Property Group, Inc.		2,377
				2,779

See accompanying notes to financial statements.

|  22

Portfolio of Investments – as of July 31, 2017 (Unaudited)

Natixis Sustainable Future 2020 Fund – (continued)

Shares		Description	Value (†)
		REITs – Specialty & Other — 0.1%
	4	Equinix, Inc.	$	1,803
	32	Iron Mountain, Inc.		1,166
				2,969
		REITs – Storage — 0.1%
	18	Public Storage		3,700
		Road & Rail — 0.4%
	59	CSX Corp.		2,911
	31	Kansas City Southern		3,199
	48	Norfolk Southern Corp.		5,404
	63	Union Pacific Corp.		6,486
				18,000
		Semiconductors & Semiconductor Equipment — 0.8%
	15	Advanced Micro Devices, Inc.(b)		204
	118	ASML Holding NV, (Registered)		17,739
	32	First Solar, Inc.(b)		1,578
	233	Intel Corp.		8,264
	48	Micron Technology, Inc.(b)		1,350
	12	NVIDIA Corp.		1,950
	25	QUALCOMM, Inc.		1,330
	15	Texas Instruments, Inc.		1,221
	7	Xilinx, Inc.		443
				34,079
		Software — 2.1%
	11	Autodesk, Inc.(b)		1,219
	170	Ellie Mae, Inc.(b)		14,827
	918	Microsoft Corp.		66,739
	153	Oracle Corp.		7,639
	11	Symantec Corp.		341
				90,765
		Specialty Retail — 0.2%
	9	Best Buy Co., Inc.		525
	26	Home Depot, Inc. (The)		3,890
	16	Lowe’s Cos., Inc.		1,238
	46	Staples, Inc.		467
	9	Tiffany & Co.		860
				6,980
		Technology Hardware, Storage & Peripherals — 0.3%
	51	Apple, Inc.		7,585
	30	NetApp, Inc.		1,303
	8	Seagate Technology PLC		264
	27	Western Digital Corp.		2,298
	39	Xerox Corp.		1,196
				12,646
		Textiles, Apparel & Luxury Goods — 0.7%
	2,951	Cie Financiere Richemont S.A., Sponsored ADR		24,995
	44	Hanesbrands, Inc.		1,009
	64	NIKE, Inc., Class B		3,779
	8	PVH Corp.		954
	9	VF Corp.		560
				31,297
		Trading Companies & Distributors — 0.1%
	53	Fastenal Co.		2,277
	15	W.W. Grainger, Inc.		2,501
				4,778
		Water Utilities — 0.6%
	306	American Water Works Co., Inc.		24,817
		Total Common Stocks (Identified Cost $2,126,289)		2,332,110

See accompanying notes to financial statements.

23  |

Portfolio of Investments – as of July 31, 2017 (Unaudited)

Natixis Sustainable Future 2020 Fund – (continued)

Shares		Description	Value (†)
	Affiliated Mutual Funds — 42.0%
	24,547	Loomis Sayles Inflation Protected Securities Fund, Class N	$	255,289
	40,989	Loomis Sayles Limited Term Government and Agency Fund, Class N		466,454
	105,191	Mirova Global Green Bond Fund, Class N(b)		1,062,425
		Total Affiliated Mutual Funds (Identified Cost $1,776,695)		1,784,168
	Closed-End Investment Companies — 0.0%
	18	Altaba, Inc.(b) (Identified Cost $987)		1,051
		Total Investments — 97.0% (Identified Cost $3,903,971)(a)		4,117,329
		Other assets less liabilities — 3.0%		127,317
		Net Assets — 100.0%	$	4,244,646
	(†)	See Note 2 of Notes to Financial Statements.
	(a)	Federal Tax Information (Amounts exclude certain adjustments that will be made at the end of the Fund’s fiscal year for tax purposes. Such adjustments are primarily due to wash sales.):
		At July 31, 2017, the net unrealized appreciation on investments based on a cost of $3,903,971 for federal income tax purposes was as follows:
		Aggregate gross unrealized appreciation for all investments in which there is an excess of value over tax cost	$	239,699
		Aggregate gross unrealized depreciation for all investments in which there is an excess of tax cost over value		(26,341	)
		Net unrealized appreciation	$	213,358
	(b)	Non-income producing security.
	ADR	An American Depositary Receipt is a certificate issued by a custodian bank representing the right to receive securities of the foreign issuer described. The values of ADRs may be significantly influenced by trading on exchanges not located in the United States.
	REITs	Real Estate Investment Trusts

Industry Summary at July 31, 2017 (Unaudited)

Affiliated Mutual Funds	42.0	%
Internet Software & Services	4.6
Insurance	4.2
Chemicals	3.8
Health Care Equipment & Supplies	3.7
IT Services	3.3
Banks	3.1
Electrical Equipment	2.6
Pharmaceuticals	2.4
Software	2.1
Other Investments, less than 2% each	25.2
Total Investments	97.0
Other assets less liabilities	3.0
Net Assets	100.0	%

Asset Allocation Summary at July 31, 2017 (Unaudited)

Equity	55.0	%
Fixed-Income	42.0
Total Investments	97.0
Other assets less liabilities	3.0
Net Assets	100.0	%

See accompanying notes to financial statements.

|  24

Portfolio of Investments – as of July 31, 2017 (Unaudited)

Natixis Sustainable Future 2025 Fund

Shares		Description	Value (†)
	Common Stocks — 61.1% of Net Assets
		Aerospace & Defense — 0.0%
	46	Arconic, Inc.	$	1,140
		Air Freight & Logistics — 0.0%
	9	United Parcel Service, Inc., Class B		993
		Auto Components — 1.9%
	13	BorgWarner, Inc.		608
	408	Delphi Automotive PLC		36,891
	10	Goodyear Tire & Rubber Co. (The)		315
	637	Valeo S.A., Sponsored ADR		22,104
				59,918
		Automobiles — 1.7%
	1,102	Byd Co. Ltd., ADR		13,775
	201	Ford Motor Co.		2,255
	327	Toyota Motor Corp., Sponsored ADR		36,899
				52,929
		Banks — 3.4%
	394	Bank of America Corp.		9,503
	121	Citigroup, Inc.		8,283
	76	Citizens Financial Group, Inc.		2,666
	156	Huntington Bancshares, Inc.		2,067
	1,248	KBC Group NV, Sponsored ADR		51,542
	162	KeyCorp		2,923
	446	People’s United Financial, Inc.		7,778
	155	Signature Bank(b)		21,480
	57	Zions Bancorporation		2,583
				108,825
		Beverages — 0.5%
	52	Brown-Forman Corp., Class B		2,569
	131	Coca-Cola Co. (The)		6,005
	4	Dr Pepper Snapple Group, Inc.		364
	17	Molson Coors Brewing Co., Class B		1,513
	20	Monster Beverage Corp.(b)		1,055
	46	PepsiCo, Inc.		5,364
				16,870
		Biotechnology — 0.6%
	14	AbbVie, Inc.		979
	12	Amgen, Inc.		2,094
	216	Gilead Sciences, Inc.		16,435
				19,508
		Building Products — 1.5%
	687	A.O. Smith Corp.		36,789
	49	Fortune Brands Home & Security, Inc.		3,218
	220	Johnson Controls International PLC		8,569
				48,576
		Capital Markets — 1.6%
	8	Affiliated Managers Group, Inc.		1,487
	11	Ameriprise Financial, Inc.		1,594
	111	Bank of New York Mellon Corp. (The)		5,886
	10	BlackRock, Inc.		4,265
	22	Charles Schwab Corp. (The)		944
	24	CME Group, Inc.		2,943
	85	Franklin Resources, Inc.		3,806
	31	Goldman Sachs Group, Inc. (The)		6,985
	18	Intercontinental Exchange, Inc.		1,201
	28	Invesco Ltd.		973
	12	Legg Mason, Inc.		480
	8	Moody’s Corp.		1,053
	18	Nasdaq, Inc.		1,339
	57	Northern Trust Corp.		4,988

See accompanying notes to financial statements.

25  |

Portfolio of Investments – as of July 31, 2017 (Unaudited)

Natixis Sustainable Future 2025 Fund – (continued)

Shares		Description	Value (†)
		Capital Markets — continued
	7	S&P Global, Inc.	$	1,075
	44	State Street Corp.		4,102
	83	T. Rowe Price Group, Inc.		6,866
				49,987
		Chemicals — 4.1%
	12	Air Products & Chemicals, Inc.		1,706
	476	Chr. Hansen Holding AS, Sponsored ADR		19,364
	52	Dow Chemical Co. (The)		3,341
	45	E.I. du Pont de Nemours & Co.		3,699
	293	Ecolab, Inc.		38,579
	106	International Flavors & Fragrances, Inc.		14,117
	251	Novozymes AS, Sponsored ADR		11,591
	48	Praxair, Inc.		6,248
	1,901	Symrise AG, Sponsored ADR		33,153
				131,798
		Commercial Services & Supplies — 0.0%
	32	Pitney Bowes, Inc.		504
	10	Stericycle, Inc.(b)		771
				1,275
		Communications Equipment — 0.3%
	262	Cisco Systems, Inc.		8,240
	11	Motorola Solutions, Inc.		997
				9,237
		Construction & Engineering — 0.0%
	33	Fluor Corp.		1,433
		Consumer Finance — 0.2%
	40	American Express Co.		3,409
	34	Navient Corp.		502
	40	Synchrony Financial		1,213
				5,124
		Containers & Packaging — 0.2%
	13	Avery Dennison Corp.		1,208
	78	Ball Corp.		3,268
	44	International Paper Co.		2,419
				6,895
		Distributors — 0.0%
	10	Genuine Parts Co.		849
		Diversified Consumer Services — 0.0%
	16	H&R Block, Inc.		488
		Diversified Telecommunication Services — 1.3%
	360	AT&T, Inc.		14,040
	1,165	Deutsche Telekom AG, Sponsored ADR		21,261
	154	Verizon Communications, Inc.		7,454
				42,755
		Electric Utilities — 1.6%
	21	Eversource Energy		1,277
	333	NextEra Energy, Inc.		48,648
				49,925
		Electrical Equipment — 3.1%
	176	Acuity Brands, Inc.		35,666
	471	Eaton Corp. PLC		36,856
	815	Vestas Wind Systems AS, Sponsored ADR		26,484
				99,006
		Electronic Equipment, Instruments & Components — 0.0%
	15	TE Connectivity Ltd.		1,206

See accompanying notes to financial statements.

|  26

Portfolio of Investments – as of July 31, 2017 (Unaudited)

Natixis Sustainable Future 2025 Fund – (continued)

Shares		Description	Value (†)
		Food & Staples Retailing — 0.3%
	52	CVS Health Corp.	$	4,156
	79	Sysco Corp.		4,157
				8,313
		Food Products — 0.6%
	57	Archer-Daniels-Midland Co.		2,404
	13	Campbell Soup Co.		687
	56	Conagra Brands, Inc.		1,917
	26	General Mills, Inc.		1,447
	4	Hershey Co. (The)		421
	5	Hormel Foods Corp.		171
	13	J.M. Smucker Co. (The)		1,585
	34	Kellogg Co.		2,312
	28	Kraft Heinz Co. (The)		2,449
	108	Mondelez International, Inc., Class A		4,754
	5	Tyson Foods, Inc., Class A		317
				18,464
		Health Care Equipment & Supplies — 4.2%
	73	Abbott Laboratories		3,590
	50	Baxter International, Inc.		3,024
	1,420	Coloplast AS, Sponsored ADR		12,127
	9	Cooper Cos., Inc. (The)		2,195
	576	Danaher Corp.		46,938
	735	Essilor International S.A., Sponsored ADR		46,603
	248	Medtronic PLC		20,824
				135,301
		Health Care Providers & Services — 0.7%
	7	Aetna, Inc.		1,080
	4	AmerisourceBergen Corp.		375
	21	Anthem, Inc.		3,910
	5	Cardinal Health, Inc.		386
	1	Centene Corp.(b)		80
	15	Cigna Corp.		2,603
	26	DaVita, Inc.(b)		1,684
	39	Express Scripts Holding Co.(b)		2,443
	20	HCA Healthcare, Inc.(b)		1,607
	4	Humana, Inc.		925
	2	Laboratory Corp. of America Holdings(b)		318
	12	McKesson Corp.		1,943
	11	Quest Diagnostics, Inc.		1,191
	13	UnitedHealth Group, Inc.		2,494
	2	Universal Health Services, Inc., Class B		222
				21,261
		Home Construction — 0.5%
	305	Geberit AG, ADR		14,567
		Hotels, Restaurants & Leisure — 0.3%
	9	Carnival Corp.		601
	52	McDonald’s Corp.		8,067
	20	Starbucks Corp.		1,080
	10	Wyndham Worldwide Corp.		1,044
				10,792
		Household Durables — 0.9%
	8	Lennar Corp., Class A		420
	1,558	Sekisui House Ltd., Sponsored ADR		27,265
				27,685
		Household Products — 0.5%
	8	Church & Dwight Co., Inc.		427
	12	Clorox Co. (The)		1,602
	47	Colgate-Palmolive Co.		3,393
	104	Procter & Gamble Co. (The)		9,445
				14,867

See accompanying notes to financial statements.

27  |

Portfolio of Investments – as of July 31, 2017 (Unaudited)

Natixis Sustainable Future 2025 Fund – (continued)

Shares		Description	Value (†)
		Independent Power & Renewable Electricity Producers — 0.2%
	89	Ormat Technologies, Inc.	$	5,278
	76	Pattern Energy Group, Inc.		1,907
				7,185
		Industrial Conglomerates — 2.0%
	62	3M Co.		12,472
	236	General Electric Co.		6,044
	189	Roper Technologies, Inc.		43,935
				62,451
		Insurance — 4.6%
	24	Aflac, Inc.		1,914
	1,480	AIA Group Ltd., Sponsored ADR		46,768
	780	Allianz SE, Sponsored ADR		16,653
	1	Allstate Corp. (The)		91
	62	Hartford Financial Services Group, Inc. (The)		3,410
	1,405	Legal & General Group PLC, Sponsored ADR		25,290
	99	MetLife, Inc.		5,445
	51	Prudential Financial, Inc.		5,775
	698	Prudential PLC, Sponsored ADR		34,181
	74	Torchmark Corp.		5,844
	58	Unum Group		2,907
				148,278
		Internet & Direct Marketing Retail — 1.3%
	38	Amazon.com, Inc.(b)		37,536
	7	Netflix, Inc.(b)		1,272
	1	Priceline Group, Inc. (The)(b)		2,028
	7	TripAdvisor, Inc.(b)		273
				41,109
		Internet Software & Services — 5.3%
	80	Alphabet, Inc., Class A(b)		75,640
	2	Alphabet, Inc., Class C(b)		1,861
	8	Cars.com, Inc.(b)		194
	20	eBay, Inc.(b)		714
	311	Facebook, Inc., Class A(b)		52,637
	957	Tencent Holdings Ltd., ADR		38,242
				169,288
		IT Services — 3.8%
	7	Accenture PLC, Class A		902
	30	Cognizant Technology Solutions Corp., Class A		2,080
	17	CSRA, Inc.		554
	39	International Business Machines Corp.		5,642
	285	MasterCard, Inc., Class A		36,423
	21	PayPal Holdings, Inc.(b)		1,230
	749	Visa, Inc., Class A		74,570
	52	Western Union Co. (The)		1,027
				122,428
		Leisure Products — 0.0%
	9	Hasbro, Inc.		953
		Life Sciences Tools & Services — 2.1%
	17	Agilent Technologies, Inc.		1,017
	39	Illumina, Inc.(b)		6,780
	342	Thermo Fisher Scientific, Inc.		60,031
				67,828
		Machinery — 0.8%
	50	Caterpillar, Inc.		5,698
	48	Deere & Co.		6,157
	24	Flowserve Corp.		987
	16	Parker Hannifin Corp.		2,656
	107	Watts Water Technologies, Inc., Series A		6,891
	44	Xylem, Inc.		2,496
				24,885

See accompanying notes to financial statements.

|  28

Portfolio of Investments – as of July 31, 2017 (Unaudited)

Natixis Sustainable Future 2025 Fund – (continued)

Shares		Description	Value (†)
		Media — 0.4%
	14	CBS Corp., Class B	$	922
	15	Interpublic Group of Cos., Inc. (The)		324
	55	News Corp., Class A		787
	4	Omnicom Group, Inc.		315
	24	TEGNA, Inc.		356
	84	Twenty-First Century Fox, Inc., Class A		2,444
	36	Twenty-First Century Fox, Inc., Class B		1,033
	72	Walt Disney Co. (The)		7,915
				14,096
		Metals & Mining — 0.0%
	18	Newmont Mining Corp.		669
		Multiline Retail — 0.0%
	15	Kohl’s Corp.		620
	7	Target Corp.		397
				1,017
		Personal Products — 1.0%
	10	Estee Lauder Cos., Inc. (The), Class A		990
	507	Unilever NV		29,492
				30,482
		Pharmaceuticals — 2.6%
	20	Allergan PLC		5,047
	64	Bristol-Myers Squibb Co.		3,642
	40	Eli Lilly & Co.		3,306
	73	Johnson & Johnson		9,689
	94	Merck & Co., Inc.		6,005
	52	Mylan NV(b)		2,027
	1,041	Novo Nordisk AS, Sponsored ADR		44,138
	235	Pfizer, Inc.		7,793
	16	Zoetis, Inc.		1,000
				82,647
		Professional Services — 0.0%
	15	Verisk Analytics, Inc.(b)		1,309
		Real Estate Management & Development — 0.1%
	53	CBRE Group, Inc., Class A(b)		2,013
		REITs – Apartments — 0.2%
	6	AvalonBay Communities, Inc.		1,154
	40	Equity Residential		2,723
	7	Essex Property Trust, Inc.		1,832
	4	Mid-America Apartment Communities, Inc.		414
				6,123
		REITs – Diversified — 0.4%
	81	Crown Castle International Corp.		8,147
	8	Digital Realty Trust, Inc.		923
	19	Vornado Realty Trust		1,507
	90	Weyerhaeuser Co.		2,972
				13,549
		REITs – Health Care — 0.1%
	39	HCP, Inc.		1,234
	31	Ventas, Inc.		2,088
				3,322
		REITs – Office Property — 0.1%
	15	Boston Properties, Inc.		1,814
	10	JBG SMITH Properties(b)		337
				2,151
		REITs – Regional Malls — 0.1%
	1	Macerich Co. (The)		57
	12	Simon Property Group, Inc.		1,902
				1,959

See accompanying notes to financial statements.

29  |

Portfolio of Investments – as of July 31, 2017 (Unaudited)

Natixis Sustainable Future 2025 Fund – (continued)

Shares		Description	Value (†)
		REITs – Specialty & Other — 0.1%
	3	Equinix, Inc.	$	1,352
	27	Iron Mountain, Inc.		984
				2,336
		REITs – Storage — 0.1%
	13	Public Storage		2,672
		Road & Rail — 0.4%
	42	CSX Corp.		2,072
	25	Kansas City Southern		2,580
	39	Norfolk Southern Corp.		4,391
	50	Union Pacific Corp.		5,148
				14,191
		Semiconductors & Semiconductor Equipment — 0.9%
	14	Advanced Micro Devices, Inc.(b)		191
	97	ASML Holding NV, (Registered)		14,582
	29	First Solar, Inc.(b)		1,430
	189	Intel Corp.		6,704
	41	Micron Technology, Inc.(b)		1,153
	9	NVIDIA Corp.		1,463
	18	QUALCOMM, Inc.		957
	11	Texas Instruments, Inc.		895
				27,375
		Software — 2.4%
	8	Autodesk, Inc.(b)		886
	151	Ellie Mae, Inc.(b)		13,170
	804	Microsoft Corp.		58,451
	112	Oracle Corp.		5,592
	9	Symantec Corp.		279
				78,378
		Specialty Retail — 0.2%
	8	Best Buy Co., Inc.		467
	20	Home Depot, Inc. (The)		2,992
	12	Lowe’s Cos., Inc.		929
	39	Staples, Inc.		396
	7	Tiffany & Co.		668
				5,452
		Technology Hardware, Storage & Peripherals — 0.3%
	38	Apple, Inc.		5,652
	27	NetApp, Inc.		1,172
	7	Seagate Technology PLC		231
	21	Western Digital Corp.		1,787
	36	Xerox Corp.		1,104
				9,946
		Textiles, Apparel & Luxury Goods — 0.8%
	2,446	Cie Financiere Richemont S.A., Sponsored ADR		20,718
	16	Hanesbrands, Inc.		367
	51	NIKE, Inc., Class B		3,011
	6	PVH Corp.		716
	7	VF Corp.		435
				25,247
		Trading Companies & Distributors — 0.1%
	40	Fastenal Co.		1,718
	12	W.W. Grainger, Inc.		2,001
				3,719
		Water Utilities — 0.7%
	261	American Water Works Co., Inc.		21,167
		Total Common Stocks (Identified Cost $1,780,328)		1,954,212

See accompanying notes to financial statements.

|  30

Portfolio of Investments – as of July 31, 2017 (Unaudited)

Natixis Sustainable Future 2025 Fund – (continued)

Shares		Description	Value (†)
	Affiliated Mutual Funds — 35.1%
	15,476	Loomis Sayles Inflation Protected Securities Fund, Class N	$	160,946
	25,359	Loomis Sayles Limited Term Government and Agency Fund, Class N		288,590
	66,855	Mirova Global Green Bond Fund, Class N(b)		675,234
		Total Affiliated Mutual Funds (Identified Cost $1,120,037)		1,124,770
	Closed-End Investment Companies — 0.0%
	13	Altaba, Inc.(b) (Identified Cost $713)		759
		Total Investments — 96.2% (Identified Cost $2,901,078)(a)		3,079,741
		Other assets less liabilities — 3.8%		121,729
		Net Assets — 100.0%	$	3,201,470
	(†)	See Note 2 of Notes to Financial Statements.
	(a)	Federal Tax Information (Amounts exclude certain adjustments that will be made at the end of the Fund’s fiscal year for tax purposes. Such adjustments are primarily due to wash sales.):
		At July 31, 2017, the net unrealized appreciation on investments based on a cost of $2,901,078 for federal income tax purposes was as follows:
		Aggregate gross unrealized appreciation for all investments in which there is an excess of value over tax cost	$	199,106
		Aggregate gross unrealized depreciation for all investments in which there is an excess of tax cost over value		(20,443	)
		Net unrealized appreciation	$	178,663
	(b)	Non-income producing security.
	ADR	An American Depositary Receipt is a certificate issued by a custodian bank representing the right to receive securities of the foreign issuer described. The values of ADRs may be significantly influenced by trading on exchanges not located in the United States.
	REITs	Real Estate Investment Trusts

Industry Summary at July 31, 2017 (Unaudited)

Affiliated Mutual Funds	35.1	%
Internet Software & Services	5.3
Insurance	4.6
Health Care Equipment & Supplies	4.2
Chemicals	4.1
IT Services	3.8
Banks	3.4
Electrical Equipment	3.1
Pharmaceuticals	2.6
Software	2.4
Life Sciences Tools & Services	2.1
Industrial Conglomerates	2.0
Other Investments, less than 2% each	23.5
Total Investments	96.2
Other assets less liabilities	3.8
Net Assets	100.0	%

Asset Allocation Summary at July 31, 2017 (Unaudited)

Equity	61.1	%
Fixed-Income	35.1
Total Investments	96.2
Other assets less liabilities	3.8
Net Assets	100.0	%

See accompanying notes to financial statements.

31  |

Portfolio of Investments – as of July 31, 2017 (Unaudited)

Natixis Sustainable Future 2030 Fund

Shares		Description	Value (†)
	Common Stocks — 69.7% of Net Assets
		Aerospace & Defense — 0.0%
	43	Arconic, Inc.	$	1,066
		Air Freight & Logistics — 0.0%
	10	United Parcel Service, Inc., Class B		1,103
		Auto Components — 2.1%
	12	BorgWarner, Inc.		561
	391	Delphi Automotive PLC		35,354
	10	Goodyear Tire & Rubber Co. (The)		315
	607	Valeo S.A., Sponsored ADR		21,063
				57,293
		Automobiles — 1.9%
	1,050	Byd Co. Ltd., ADR		13,125
	188	Ford Motor Co.		2,109
	310	Toyota Motor Corp., Sponsored ADR		34,981
				50,215
		Banks — 3.9%
	394	Bank of America Corp.		9,503
	121	Citigroup, Inc.		8,283
	73	Citizens Financial Group, Inc.		2,561
	150	Huntington Bancshares, Inc.		1,988
	1,188	KBC Group NV, Sponsored ADR		49,064
	155	KeyCorp		2,796
	445	People’s United Financial, Inc.		7,761
	147	Signature Bank(b)		20,371
	54	Zions Bancorporation		2,447
				104,774
		Beverages — 0.6%
	50	Brown-Forman Corp., Class B		2,470
	131	Coca-Cola Co. (The)		6,005
	4	Dr Pepper Snapple Group, Inc.		365
	15	Molson Coors Brewing Co., Class B		1,335
	19	Monster Beverage Corp.(b)		1,002
	46	PepsiCo, Inc.		5,364
				16,541
		Biotechnology — 0.7%
	13	AbbVie, Inc.		909
	13	Amgen, Inc.		2,269
	203	Gilead Sciences, Inc.		15,446
				18,624
		Building Products — 1.7%
	659	A.O. Smith Corp.		35,289
	47	Fortune Brands Home & Security, Inc.		3,087
	220	Johnson Controls International PLC		8,569
				46,945
		Capital Markets — 1.9%
	7	Affiliated Managers Group, Inc.		1,301
	10	Ameriprise Financial, Inc.		1,449
	110	Bank of New York Mellon Corp. (The)		5,833
	11	BlackRock, Inc.		4,692
	21	Charles Schwab Corp. (The)		901
	24	CME Group, Inc.		2,943
	91	Franklin Resources, Inc.		4,075
	32	Goldman Sachs Group, Inc. (The)		7,210
	14	Intercontinental Exchange, Inc.		934
	35	Invesco Ltd.		1,217
	11	Legg Mason, Inc.		440
	9	Moody’s Corp.		1,185
	17	Nasdaq, Inc.		1,264
	51	Northern Trust Corp.		4,463

See accompanying notes to financial statements.

|  32

Portfolio of Investments – as of July 31, 2017 (Unaudited)

Natixis Sustainable Future 2030 Fund – (continued)

Shares		Description	Value (†)
		Capital Markets — continued
	8	S&P Global, Inc.	$	1,229
	42	State Street Corp.		3,916
	87	T. Rowe Price Group, Inc.		7,196
				50,248
		Chemicals — 4.7%
	14	Air Products & Chemicals, Inc.		1,990
	454	Chr. Hansen Holding AS, Sponsored ADR		18,469
	52	Dow Chemical Co. (The)		3,340
	48	E.I. du Pont de Nemours & Co.		3,946
	279	Ecolab, Inc.		36,736
	103	International Flavors & Fragrances, Inc.		13,718
	239	Novozymes AS, Sponsored ADR		11,037
	48	Praxair, Inc.		6,248
	1,810	Symrise AG, Sponsored ADR		31,566
				127,050
		Commercial Services & Supplies — 0.1%
	32	Pitney Bowes, Inc.		503
	10	Stericycle, Inc.(b)		771
				1,274
		Communications Equipment — 0.3%
	256	Cisco Systems, Inc.		8,051
	11	Motorola Solutions, Inc.		998
				9,049
		Construction & Engineering — 0.1%
	31	Fluor Corp.		1,346
		Consumer Finance — 0.2%
	38	American Express Co.		3,239
	32	Navient Corp.		472
	40	Synchrony Financial		1,213
				4,924
		Containers & Packaging — 0.3%
	12	Avery Dennison Corp.		1,115
	71	Ball Corp.		2,975
	50	International Paper Co.		2,749
				6,839
		Distributors — 0.0%
	9	Genuine Parts Co.		764
		Diversified Consumer Services — 0.0%
	15	H&R Block, Inc.		458
		Diversified Telecommunication Services — 1.5%
	357	AT&T, Inc.		13,923
	1,109	Deutsche Telekom AG, Sponsored ADR		20,239
	152	Verizon Communications, Inc.		7,357
				41,519
		Electric Utilities — 1.7%
	20	Eversource Energy		1,216
	305	NextEra Energy, Inc.		44,557
				45,773
		Electrical Equipment — 3.4%
	167	Acuity Brands, Inc.		33,843
	430	Eaton Corp. PLC		33,647
	776	Vestas Wind Systems AS, Sponsored ADR		25,216
				92,706
		Electronic Equipment, Instruments & Components — 0.0%
	14	TE Connectivity Ltd.		1,125
		Food & Staples Retailing — 0.3%
	50	CVS Health Corp.		3,996
	75	Sysco Corp.		3,947
				7,943

See accompanying notes to financial statements.

33  |

Portfolio of Investments – as of July 31, 2017 (Unaudited)

Natixis Sustainable Future 2030 Fund – (continued)

Shares		Description	Value (†)
		Food Products — 0.7%
	63	Archer-Daniels-Midland Co.	$	2,657
	12	Campbell Soup Co.		634
	53	Conagra Brands, Inc.		1,815
	24	General Mills, Inc.		1,336
	4	Hershey Co. (The)		421
	16	Hormel Foods Corp.		547
	12	J.M. Smucker Co. (The)		1,463
	32	Kellogg Co.		2,176
	31	Kraft Heinz Co. (The)		2,711
	106	Mondelez International, Inc., Class A		4,666
	12	Tyson Foods, Inc., Class A		760
				19,186
		Health Care Equipment & Supplies — 4.8%
	69	Abbott Laboratories		3,393
	50	Baxter International, Inc.		3,024
	1,352	Coloplast AS, Sponsored ADR		11,546
	9	Cooper Cos., Inc. (The)		2,195
	549	Danaher Corp.		44,738
	674	Essilor International S.A., Sponsored ADR		42,735
	1	Hologic, Inc.(b)		44
	241	Medtronic PLC		20,237
				127,912
		Health Care Providers & Services — 0.8%
	8	Aetna, Inc.		1,234
	4	AmerisourceBergen Corp.		375
	23	Anthem, Inc.		4,283
	4	Cardinal Health, Inc.		309
	1	Centene Corp.(b)		79
	16	Cigna Corp.		2,777
	24	DaVita, Inc.(b)		1,555
	6	Envision Healthcare Corp.(b)		339
	34	Express Scripts Holding Co.(b)		2,130
	20	HCA Healthcare, Inc.(b)		1,607
	4	Humana, Inc.		925
	2	Laboratory Corp. of America Holdings(b)		318
	12	McKesson Corp.		1,942
	10	Quest Diagnostics, Inc.		1,083
	13	UnitedHealth Group, Inc.		2,493
	2	Universal Health Services, Inc., Class B		222
				21,671
		Home Construction — 0.5%
	290	Geberit AG, ADR		13,850
		Hotels, Restaurants & Leisure — 0.4%
	9	Carnival Corp.		601
	51	McDonald’s Corp.		7,912
	19	Starbucks Corp.		1,025
	10	Wyndham Worldwide Corp.		1,044
				10,582
		Household Durables — 1.0%
	7	Lennar Corp., Class A		367
	1,483	Sekisui House Ltd., Sponsored ADR		25,953
				26,320
		Household Products — 0.5%
	7	Church & Dwight Co., Inc.		373
	11	Clorox Co. (The)		1,468
	50	Colgate-Palmolive Co.		3,610
	102	Procter & Gamble Co. (The)		9,264
				14,715

See accompanying notes to financial statements.

|  34

Portfolio of Investments – as of July 31, 2017 (Unaudited)

Natixis Sustainable Future 2030 Fund – (continued)

Shares		Description	Value (†)
		Independent Power & Renewable Electricity Producers — 0.3%
	85	Ormat Technologies, Inc.	$	5,041
	73	Pattern Energy Group, Inc.		1,832
				6,873
		Industrial Conglomerates — 2.2%
	61	3M Co.		12,272
	236	General Electric Co.		6,044
	179	Roper Technologies, Inc.		41,610
				59,926
		Insurance — 5.3%
	23	Aflac, Inc.		1,834
	1,408	AIA Group Ltd., Sponsored ADR		44,493
	743	Allianz SE, Sponsored ADR		15,863
	4	Allstate Corp. (The)		364
	58	Hartford Financial Services Group, Inc. (The)		3,190
	1,338	Legal & General Group PLC, Sponsored ADR		24,084
	98	MetLife, Inc.		5,390
	50	Prudential Financial, Inc.		5,661
	665	Prudential PLC, Sponsored ADR		32,565
	78	Torchmark Corp.		6,160
	54	Unum Group		2,707
				142,311
		Internet & Direct Marketing Retail — 1.5%
	36	Amazon.com, Inc.(b)		35,560
	7	Netflix, Inc.(b)		1,272
	1	Priceline Group, Inc. (The)(b)		2,028
	7	TripAdvisor, Inc.(b)		273
				39,133
		Internet Software & Services — 6.0%
	77	Alphabet, Inc., Class A(b)		72,804
	2	Alphabet, Inc., Class C(b)		1,861
	7	Cars.com, Inc.(b)		170
	19	eBay, Inc.(b)		679
	295	Facebook, Inc., Class A(b)		49,929
	865	Tencent Holdings Ltd., ADR		34,565
				160,008
		IT Services — 4.4%
	8	Accenture PLC, Class A		1,030
	28	Cognizant Technology Solutions Corp., Class A		1,941
	16	CSRA, Inc.		522
	40	International Business Machines Corp.		5,787
	272	MasterCard, Inc., Class A		34,762
	20	PayPal Holdings, Inc.(b)		1,171
	713	Visa, Inc., Class A		70,986
	48	Western Union Co. (The)		948
				117,147
		Leisure Products — 0.0%
	10	Hasbro, Inc.		1,059
		Life Sciences Tools & Services — 2.4%
	17	Agilent Technologies, Inc.		1,016
	37	Illumina, Inc.(b)		6,433
	325	Thermo Fisher Scientific, Inc.		57,047
				64,496
		Machinery — 0.9%
	52	Caterpillar, Inc.		5,925
	50	Deere & Co.		6,414
	19	Flowserve Corp.		781
	15	Parker Hannifin Corp.		2,490
	102	Watts Water Technologies, Inc., Series A		6,569
	42	Xylem, Inc.		2,383
				24,562

See accompanying notes to financial statements.

35  |

Portfolio of Investments – as of July 31, 2017 (Unaudited)

Natixis Sustainable Future 2030 Fund – (continued)

Shares		Description	Value (†)
		Media — 0.5%
	13	CBS Corp., Class B	$	856
	14	Interpublic Group of Cos., Inc. (The)		302
	51	News Corp., Class A		730
	4	Omnicom Group, Inc.		315
	22	TEGNA, Inc.		326
	29	Twenty-First Century Fox, Inc., Class B		832
	77	Twenty-First Century Fox, Inc., Class A		2,241
	70	Walt Disney Co. (The)		7,695
				13,297
		Metals & Mining — 0.0%
	16	Newmont Mining Corp.		595
		Multiline Retail — 0.0%
	14	Kohl’s Corp.		579
	6	Target Corp.		340
				919
		Personal Products — 1.1%
	11	Estee Lauder Cos., Inc. (The), Class A		1,089
	483	Unilever NV		28,096
				29,185
		Pharmaceuticals — 3.0%
	20	Allergan PLC		5,047
	61	Bristol-Myers Squibb Co.		3,471
	38	Eli Lilly & Co.		3,141
	73	Johnson & Johnson		9,689
	96	Merck & Co., Inc.		6,132
	58	Mylan NV(b)		2,261
	1,000	Novo Nordisk AS, Sponsored ADR		42,400
	230	Pfizer, Inc.		7,627
	16	Zoetis, Inc.		1,000
				80,768
		Professional Services — 0.0%
	14	Verisk Analytics, Inc.(b)		1,222
		Real Estate Management & Development — 0.1%
	50	CBRE Group, Inc., Class A(b)		1,900
		REITs – Apartments — 0.2%
	5	AvalonBay Communities, Inc.		962
	37	Equity Residential		2,518
	7	Essex Property Trust, Inc.		1,832
	3	Mid-America Apartment Communities, Inc.		310
				5,622
		REITs – Diversified — 0.5%
	80	Crown Castle International Corp.		8,046
	9	Digital Realty Trust, Inc.		1,038
	17	Vornado Realty Trust		1,349
	79	Weyerhaeuser Co.		2,609
				13,042
		REITs – Health Care — 0.1%
	36	HCP, Inc.		1,140
	29	Ventas, Inc.		1,953
				3,093
		REITs – Office Property — 0.1%
	14	Boston Properties, Inc.		1,693
	9	JBG SMITH Properties(b)		301
				1,994
		REITs – Regional Malls — 0.1%
	6	Macerich Co. (The)		344
	13	Simon Property Group, Inc.		2,061
				2,405

See accompanying notes to financial statements.

|  36

Portfolio of Investments – as of July 31, 2017 (Unaudited)

Natixis Sustainable Future 2030 Fund – (continued)

Shares		Description	Value (†)
		REITs – Specialty & Other — 0.1%
	3	Equinix, Inc.	$	1,352
	25	Iron Mountain, Inc.		911
				2,263
		REITs ��� Storage — 0.1%
	13	Public Storage		2,672
		Road & Rail — 0.5%
	47	CSX Corp.		2,319
	24	Kansas City Southern		2,477
	36	Norfolk Southern Corp.		4,053
	47	Union Pacific Corp.		4,839
				13,688
		Semiconductors & Semiconductor Equipment — 1.0%
	14	Advanced Micro Devices, Inc.(b)		190
	93	ASML Holding NV, (Registered)		13,981
	28	First Solar, Inc.(b)		1,381
	178	Intel Corp.		6,314
	38	Micron Technology, Inc.(b)		1,069
	10	NVIDIA Corp.		1,625
	17	QUALCOMM, Inc.		904
	11	Texas Instruments, Inc.		895
				26,359
		Software — 2.8%
	8	Autodesk, Inc.(b)		886
	143	Ellie Mae, Inc.(b)		12,472
	770	Microsoft Corp.		55,979
	118	Oracle Corp.		5,892
	9	Symantec Corp.		279
				75,508
		Specialty Retail — 0.2%
	8	Best Buy Co., Inc.		467
	19	Home Depot, Inc. (The)		2,842
	11	Lowe’s Cos., Inc.		851
	37	Staples, Inc.		376
	7	Tiffany & Co.		669
				5,205
		Technology Hardware, Storage & Peripherals — 0.4%
	37	Apple, Inc.		5,503
	21	NetApp, Inc.		912
	7	Seagate Technology PLC		231
	20	Western Digital Corp.		1,702
	35	Xerox Corp.		1,073
				9,421
		Textiles, Apparel & Luxury Goods — 0.9%
	2,330	Cie Financiere Richemont S.A., Sponsored ADR		19,735
	16	Hanesbrands, Inc.		367
	47	NIKE, Inc., Class B		2,775
	6	PVH Corp.		716
	7	VF Corp.		435
				24,028
		Trading Companies & Distributors — 0.1%
	38	Fastenal Co.		1,633
	11	W.W. Grainger, Inc.		1,834
				3,467
		Water Utilities — 0.8%
	249	American Water Works Co., Inc.		20,194
		Total Common Stocks (Identified Cost $1,707,856)		1,874,177

See accompanying notes to financial statements.

37  |

Portfolio of Investments – as of July 31, 2017 (Unaudited)

Natixis Sustainable Future 2030 Fund – (continued)

Shares		Description	Value (†)
	Affiliated Mutual Funds — 26.2%
	13,044	Loomis Sayles Inflation Protected Securities Fund, Class N	$	135,658
	14,259	Loomis Sayles Limited Term Government and Agency Fund, Class N		162,267
	40,262	Mirova Global Green Bond Fund, Class N(b)		406,649
		Total Affiliated Mutual Funds (Identified Cost $702,051)		704,574
	Closed-End Investment Companies — 0.0%
	13	Altaba, Inc.(b) (Identified Cost $713)		759
		Total Investments — 95.9% (Identified Cost $2,410,620)(a)		2,579,510
		Other assets less liabilities — 4.1%		109,867
		Net Assets — 100.0%	$	2,689,377
	(†)	See Note 2 of Notes to Financial Statements.
	(a)	Federal Tax Information (Amounts exclude certain adjustments that will be made at the end of the Fund’s fiscal year for tax purposes. Such adjustments are primarily due to wash sales.):
		At July 31, 2017, the net unrealized appreciation on investments based on a cost of $2,410,620 for federal income tax purposes was as follows:
		Aggregate gross unrealized appreciation for all investments in which there is an excess of value over tax cost	$	188,503
		Aggregate gross unrealized depreciation for all investments in which there is an excess of tax cost over value		(19,613	)
		Net unrealized appreciation	$	168,890
	(b)	Non-income producing security.
	ADR	An American Depositary Receipt is a certificate issued by a custodian bank representing the right to receive securities of the foreign issuer described. The values of ADRs may be significantly influenced by trading on exchanges not located in the United States.
	REITs	Real Estate Investment Trusts

Industry Summary at July 31, 2017 (Unaudited)

Affiliated Mutual Funds	26.2	%
Internet Software & Services	6.0
Insurance	5.3
Health Care Equipment & Supplies	4.8
Chemicals	4.7
IT Services	4.4
Banks	3.9
Electrical Equipment	3.4
Pharmaceuticals	3.0
Software	2.8
Life Sciences Tools & Services	2.4
Industrial Conglomerates	2.2
Auto Components	2.1
Other Investments, less than 2% each	24.7
Total Investments	95.9
Other assets less liabilities	4.1
Net Assets	100.0	%

Asset Allocation Summary at July 31, 2017 (Unaudited)

Equity	69.7	%
Fixed-Income	26.2
Total Investments	95.9
Other assets less liabilities	4.1
Net Assets	100.0	%

See accompanying notes to financial statements.

|  38

Portfolio of Investments – as of July 31, 2017 (Unaudited)

Natixis Sustainable Future 2035 Fund

Shares		Description	Value (†)
	Common Stocks — 77.3% of Net Assets
		Aerospace & Defense — 0.0%
	46	Arconic, Inc.	$	1,140
		Air Freight & Logistics — 0.0%
	11	United Parcel Service, Inc., Class B		1,213
		Auto Components — 2.3%
	13	BorgWarner, Inc.		608
	418	Delphi Automotive PLC		37,795
	10	Goodyear Tire & Rubber Co. (The)		315
	683	Valeo S.A., Sponsored ADR		23,700
				62,418
		Automobiles — 2.0%
	1,181	Byd Co. Ltd., ADR		14,762
	201	Ford Motor Co.		2,255
	333	Toyota Motor Corp., Sponsored ADR		37,576
				54,593
		Banks — 4.3%
	450	Bank of America Corp.		10,854
	143	Citigroup, Inc.		9,788
	83	Citizens Financial Group, Inc.		2,912
	170	Huntington Bancshares, Inc.		2,253
	1,287	KBC Group NV, Sponsored ADR		53,153
	176	KeyCorp		3,175
	532	People’s United Financial, Inc.		9,278
	162	Signature Bank(b)		22,450
	62	Zions Bancorporation		2,810
				116,673
		Beverages — 0.8%
	66	Brown-Forman Corp., Class B		3,260
	164	Coca-Cola Co. (The)		7,518
	4	Dr Pepper Snapple Group, Inc.		365
	17	Molson Coors Brewing Co., Class B		1,513
	22	Monster Beverage Corp.(b)		1,160
	55	PepsiCo, Inc.		6,414
				20,230
		Biotechnology — 0.8%
	18	AbbVie, Inc.		1,258
	17	Amgen, Inc.		2,967
	232	Gilead Sciences, Inc.		17,653
				21,878
		Building Products — 1.9%
	707	A.O. Smith Corp.		37,860
	53	Fortune Brands Home & Security, Inc.		3,480
	269	Johnson Controls International PLC		10,478
				51,818
		Capital Markets — 2.1%
	8	Affiliated Managers Group, Inc.		1,487
	11	Ameriprise Financial, Inc.		1,594
	142	Bank of New York Mellon Corp. (The)		7,530
	13	BlackRock, Inc.		5,545
	29	Charles Schwab Corp. (The)		1,244
	24	CME Group, Inc.		2,943
	104	Franklin Resources, Inc.		4,657
	37	Goldman Sachs Group, Inc. (The)		8,337
	16	Intercontinental Exchange, Inc.		1,068
	47	Invesco Ltd.		1,634
	13	Legg Mason, Inc.		520
	8	Moody’s Corp.		1,053
	18	Nasdaq, Inc.		1,339
	55	Northern Trust Corp.		4,813

See accompanying notes to financial statements.

39  |

Portfolio of Investments – as of July 31, 2017 (Unaudited)

Natixis Sustainable Future 2035 Fund – (continued)

Shares		Description	Value (†)
		Capital Markets — continued
	9	S&P Global, Inc.	$	1,382
	45	State Street Corp.		4,195
	93	T. Rowe Price Group, Inc.		7,693
				57,034
		Chemicals — 5.3%
	15	Air Products & Chemicals, Inc.		2,132
	510	Chr. Hansen Holding AS, Sponsored ADR		20,747
	62	Dow Chemical Co. (The)		3,983
	52	E.I. du Pont de Nemours & Co.		4,275
	314	Ecolab, Inc.		41,344
	113	International Flavors & Fragrances, Inc.		15,049
	269	Novozymes AS, Sponsored ADR		12,423
	57	Praxair, Inc.		7,419
	2,037	Symrise AG, Sponsored ADR		35,525
				142,897
		Commercial Services & Supplies — 0.1%
	68	Pitney Bowes, Inc.		1,070
	10	Stericycle, Inc.(b)		771
				1,841
		Communications Equipment — 0.4%
	307	Cisco Systems, Inc.		9,655
	12	Motorola Solutions, Inc.		1,088
				10,743
		Construction & Engineering — 0.1%
	33	Fluor Corp.		1,433
		Consumer Finance — 0.2%
	40	American Express Co.		3,409
	34	Navient Corp.		502
	64	Synchrony Financial		1,940
				5,851
		Containers & Packaging — 0.3%
	13	Avery Dennison Corp.		1,208
	86	Ball Corp.		3,603
	53	International Paper Co.		2,914
				7,725
		Distributors — 0.0%
	10	Genuine Parts Co.		849
		Diversified Consumer Services — 0.0%
	16	H&R Block, Inc.		488
		Diversified Telecommunication Services — 1.8%
	419	AT&T, Inc.		16,341
	1,248	Deutsche Telekom AG, Sponsored ADR		22,776
	178	Verizon Communications, Inc.		8,615
				47,732
		Electric Utilities — 1.9%
	23	Eversource Energy		1,398
	343	NextEra Energy, Inc.		50,109
				51,507
		Electrical Equipment — 3.8%
	184	Acuity Brands, Inc.		37,288
	491	Eaton Corp. PLC		38,421
	873	Vestas Wind Systems AS, Sponsored ADR		28,368
				104,077
		Electronic Equipment, Instruments & Components — 0.1%
	16	TE Connectivity Ltd.		1,286

See accompanying notes to financial statements.

|  40

Portfolio of Investments – as of July 31, 2017 (Unaudited)

Natixis Sustainable Future 2035 Fund – (continued)

Shares		Description	Value (†)
		Food & Staples Retailing — 0.3%
	63	CVS Health Corp.	$	5,035
	82	Sysco Corp.		4,315
				9,350
		Food Products — 0.8%
	68	Archer-Daniels-Midland Co.		2,868
	13	Campbell Soup Co.		687
	56	Conagra Brands, Inc.		1,917
	26	General Mills, Inc.		1,447
	4	Hershey Co. (The)		421
	17	Hormel Foods Corp.		581
	13	J.M. Smucker Co. (The)		1,585
	36	Kellogg Co.		2,448
	34	Kraft Heinz Co. (The)		2,973
	133	Mondelez International, Inc., Class A		5,855
	13	Tyson Foods, Inc., Class A		824
				21,606
		Health Care Equipment & Supplies — 5.3%
	75	Abbott Laboratories		3,689
	67	Baxter International, Inc.		4,052
	1,521	Coloplast AS, Sponsored ADR		12,989
	9	Cooper Cos., Inc. (The)		2,195
	603	Danaher Corp.		49,138
	759	Essilor International S.A., Sponsored ADR		48,124
	9	Hologic, Inc.(b)		398
	273	Medtronic PLC		22,924
				143,509
		Health Care Providers & Services — 0.9%
	9	Aetna, Inc.		1,389
	4	AmerisourceBergen Corp.		375
	23	Anthem, Inc.		4,283
	5	Cardinal Health, Inc.		386
	7	Centene Corp.(b)		556
	21	Cigna Corp.		3,645
	26	DaVita, Inc.(b)		1,684
	7	Envision Healthcare Corp.(b)		395
	40	Express Scripts Holding Co.(b)		2,506
	21	HCA Healthcare, Inc.(b)		1,687
	5	Humana, Inc.		1,156
	2	Laboratory Corp. of America Holdings(b)		318
	13	McKesson Corp.		2,104
	11	Quest Diagnostics, Inc.		1,192
	14	UnitedHealth Group, Inc.		2,685
	8	Universal Health Services, Inc., Class B		887
				25,248
		Home Construction — 0.6%
	326	Geberit AG, ADR		15,570
		Hotels, Restaurants & Leisure — 0.4%
	9	Carnival Corp.		601
	59	McDonald’s Corp.		9,153
	22	Starbucks Corp.		1,188
	6	Wyndham Worldwide Corp.		626
				11,568
		Household Durables — 1.1%
	8	Lennar Corp., Class A		420
	1,669	Sekisui House Ltd., Sponsored ADR		29,207
				29,627
		Household Products — 0.6%
	8	Church & Dwight Co., Inc.		427
	12	Clorox Co. (The)		1,602

See accompanying notes to financial statements.

41  |

Portfolio of Investments – as of July 31, 2017 (Unaudited)

Natixis Sustainable Future 2035 Fund – (continued)

Shares		Description	Value (†)
		Household Products — continued
	55	Colgate-Palmolive Co.	$	3,971
	119	Procter & Gamble Co. (The)		10,807
				16,807
		Independent Power & Renewable Electricity Producers — 0.3%
	96	Ormat Technologies, Inc.		5,693
	83	Pattern Energy Group, Inc.		2,083
				7,776
		Industrial Conglomerates — 2.5%
	71	3M Co.		14,283
	292	General Electric Co.		7,478
	198	Roper Technologies, Inc.		46,027
				67,788
		Insurance — 5.8%
	26	Aflac, Inc.		2,073
	1,525	AIA Group Ltd., Sponsored ADR		48,190
	835	Allianz SE, Sponsored ADR		17,827
	4	Allstate Corp. (The)		364
	68	Hartford Financial Services Group, Inc. (The)		3,740
	1,505	Legal & General Group PLC, Sponsored ADR		27,090
	115	MetLife, Inc.		6,325
	59	Prudential Financial, Inc.		6,681
	748	Prudential PLC, Sponsored ADR		36,630
	83	Torchmark Corp.		6,554
	58	Unum Group		2,908
				158,382
		Internet & Direct Marketing Retail — 1.6%
	40	Amazon.com, Inc.(b)		39,511
	8	Netflix, Inc.(b)		1,453
	1	Priceline Group, Inc. (The)(b)		2,029
	7	TripAdvisor, Inc.(b)		273
				43,266
		Internet Software & Services — 6.5%
	84	Alphabet, Inc., Class A(b)		79,422
	2	Alphabet, Inc., Class C(b)		1,861
	8	Cars.com, Inc.(b)		194
	20	eBay, Inc.(b)		715
	326	Facebook, Inc., Class A(b)		55,176
	974	Tencent Holdings Ltd., ADR		38,921
				176,289
		IT Services — 4.8%
	7	Accenture PLC, Class A		902
	32	Cognizant Technology Solutions Corp., Class A		2,218
	17	CSRA, Inc.		554
	44	International Business Machines Corp.		6,365
	306	MasterCard, Inc., Class A		39,107
	23	PayPal Holdings, Inc.(b)		1,347
	784	Visa, Inc., Class A		78,055
	52	Western Union Co. (The)		1,027
				129,575
		Leisure Products — 0.0%
	9	Hasbro, Inc.		953
		Life Sciences Tools & Services — 2.6%
	19	Agilent Technologies, Inc.		1,136
	42	Illumina, Inc.(b)		7,302
	353	Thermo Fisher Scientific, Inc.		61,962
				70,400
		Machinery — 1.0%
	55	Caterpillar, Inc.		6,267
	55	Deere & Co.		7,056

See accompanying notes to financial statements.

|  42

Portfolio of Investments – as of July 31, 2017 (Unaudited)

Natixis Sustainable Future 2035 Fund – (continued)

Shares		Description	Value (†)
		Machinery — continued
	26	Flowserve Corp.	$	1,069
	16	Parker Hannifin Corp.		2,656
	115	Watts Water Technologies, Inc., Series A		7,406
	48	Xylem, Inc.		2,723
				27,177
		Media — 0.6%
	14	CBS Corp., Class B		922
	15	Interpublic Group of Cos., Inc. (The)		324
	55	News Corp., Class A		787
	4	Omnicom Group, Inc.		315
	24	TEGNA, Inc.		356
	39	Twenty-First Century Fox, Inc., Class B		1,119
	109	Twenty-First Century Fox, Inc., Class A		3,172
	85	Walt Disney Co. (The)		9,344
				16,339
		Metals & Mining — 0.0%
	16	Newmont Mining Corp.		595
		Multiline Retail — 0.0%
	15	Kohl’s Corp.		620
	7	Target Corp.		397
				1,017
		Personal Products — 1.2%
	10	Estee Lauder Cos., Inc. (The), Class A		990
	543	Unilever NV		31,586
				32,576
		Pharmaceuticals — 3.3%
	25	Allergan PLC		6,308
	67	Bristol-Myers Squibb Co.		3,812
	42	Eli Lilly & Co.		3,472
	87	Johnson & Johnson		11,547
	107	Merck & Co., Inc.		6,835
	62	Mylan NV(b)		2,418
	1,078	Novo Nordisk AS, Sponsored ADR		45,707
	281	Pfizer, Inc.		9,318
	18	Zoetis, Inc.		1,125
				90,542
		Professional Services — 0.1%
	16	Verisk Analytics, Inc.(b)		1,396
		Real Estate Management & Development — 0.1%
	61	CBRE Group, Inc., Class A(b)		2,317
		REITs – Apartments — 0.3%
	7	AvalonBay Communities, Inc.		1,346
	44	Equity Residential		2,995
	8	Essex Property Trust, Inc.		2,094
	4	Mid-America Apartment Communities, Inc.		414
				6,849
		REITs – Diversified — 0.6%
	94	Crown Castle International Corp.		9,454
	8	Digital Realty Trust, Inc.		923
	19	Vornado Realty Trust		1,508
	93	Weyerhaeuser Co.		3,071
				14,956
		REITs – Health Care — 0.1%
	39	HCP, Inc.		1,234
	31	Ventas, Inc.		2,088
				3,322

See accompanying notes to financial statements.

43  |

Portfolio of Investments – as of July 31, 2017 (Unaudited)

Natixis Sustainable Future 2035 Fund – (continued)

Shares		Description	Value (†)
		REITs – Office Property — 0.1%
	14	Boston Properties, Inc.	$	1,693
	10	JBG SMITH Properties(b)		337
				2,030
		REITs – Regional Malls — 0.1%
	7	Macerich Co. (The)		402
	12	Simon Property Group, Inc.		1,902
				2,304
		REITs – Specialty & Other — 0.1%
	3	Equinix, Inc.		1,352
	27	Iron Mountain, Inc.		984
				2,336
		REITs – Storage — 0.1%
	14	Public Storage		2,878
		Road & Rail — 0.6%
	50	CSX Corp.		2,467
	26	Kansas City Southern		2,683
	40	Norfolk Southern Corp.		4,503
	52	Union Pacific Corp.		5,354
				15,007
		Semiconductors & Semiconductor Equipment — 1.1%
	15	Advanced Micro Devices, Inc.(b)		204
	104	ASML Holding NV, (Registered)		15,634
	31	First Solar, Inc.(b)		1,529
	196	Intel Corp.		6,952
	41	Micron Technology, Inc.(b)		1,153
	9	NVIDIA Corp.		1,463
	20	QUALCOMM, Inc.		1,064
	12	Texas Instruments, Inc.		976
	6	Xilinx, Inc.		380
				29,355
		Software — 3.1%
	9	Autodesk, Inc.(b)		997
	158	Ellie Mae, Inc.(b)		13,781
	841	Microsoft Corp.		61,141
	129	Oracle Corp.		6,441
	9	Symantec Corp.		279
				82,639
		Specialty Retail — 0.2%
	8	Best Buy Co., Inc.		467
	21	Home Depot, Inc. (The)		3,142
	13	Lowe’s Cos., Inc.		1,006
	39	Staples, Inc.		396
	7	Tiffany & Co.		668
				5,679
		Technology Hardware, Storage & Peripherals — 0.4%
	42	Apple, Inc.		6,247
	29	NetApp, Inc.		1,259
	8	Seagate Technology PLC		264
	22	Western Digital Corp.		1,873
	38	Xerox Corp.		1,165
				10,808
		Textiles, Apparel & Luxury Goods — 1.0%
	2,621	Cie Financiere Richemont S.A., Sponsored ADR		22,200
	38	Hanesbrands, Inc.		871
	53	NIKE, Inc., Class B		3,130
	6	PVH Corp.		716
	7	VF Corp.		435
				27,352

See accompanying notes to financial statements.

|  44

Portfolio of Investments – as of July 31, 2017 (Unaudited)

Natixis Sustainable Future 2035 Fund – (continued)

Shares		Description	Value (†)
		Trading Companies & Distributors — 0.1%
	43	Fastenal Co.	$	1,847
	12	W.W. Grainger, Inc.		2,001
				3,848
		Water Utilities — 0.8%
	281	American Water Works Co., Inc.		22,789
		Total Common Stocks (Identified Cost $1,908,380)		2,095,251
	Affiliated Mutual Funds — 18.2%
	10,513	Loomis Sayles Inflation Protected Securities Fund, Class N		109,339
	9,575	Loomis Sayles Limited Term Government and Agency Fund, Class N		108,969
	27,047	Mirova Global Green Bond Fund, Class N(b)		273,180
		Total Affiliated Mutual Funds (Identified Cost $489,969)		491,488
	Closed-End Investment Companies — 0.0%
	15	Altaba, Inc.(b) (Identified Cost $822)		876
		Total Investments — 95.5% (Identified Cost $2,399,171)(a)		2,587,615
		Other assets less liabilities — 4.5%		122,413
		Net Assets — 100.0%	$	2,710,028
	(†)	See Note 2 of Notes to Financial Statements.
	(a)	Federal Tax Information (Amounts exclude certain adjustments that will be made at the end of the Fund’s fiscal year for tax purposes. Such adjustments are primarily due to wash sales.):
		At July 31, 2017, the net unrealized appreciation on investments based on a cost of $2,399,171 for federal income tax purposes was as follows:
		Aggregate gross unrealized appreciation for all investments in which there is an excess of value over tax cost	$	210,299
		Aggregate gross unrealized depreciation for all investments in which there is an excess of tax cost over value		(21,855	)
		Net unrealized appreciation	$	188,444
	(b)	Non-income producing security.
	ADR	An American Depositary Receipt is a certificate issued by a custodian bank representing the right to receive securities of the foreign issuer described. The values of ADRs may be significantly influenced by trading on exchanges not located in the United States.
	REITs	Real Estate Investment Trusts

Industry Summary at July 31, 2017 (Unaudited)

Affiliated Mutual Funds	18.2	%
Internet Software & Services	6.5
Insurance	5.8
Health Care Equipment & Supplies	5.3
Chemicals	5.3
IT Services	4.8
Banks	4.3
Electrical Equipment	3.8
Pharmaceuticals	3.3
Software	3.1
Life Sciences Tools & Services	2.6
Industrial Conglomerates	2.5
Auto Components	2.3
Capital Markets	2.1
Automobiles	2.0
Other Investments, less than 2% each	23.6
Total Investments	95.5
Other assets less liabilities	4.5
Net Assets	100.0	%

See accompanying notes to financial statements.

45  |

Portfolio of Investments – as of July 31, 2017 (Unaudited)

Natixis Sustainable Future 2035 Fund – (continued)

Asset Allocation Summary at July 31, 2017 (Unaudited)

Equity	77.3	%
Fixed-Income	18.2
Total Investments	95.5
Other assets less liabilities	4.5
Net Assets	100.0	%

See accompanying notes to financial statements.

|  46

Portfolio of Investments – as of July 31, 2017 (Unaudited)

Natixis Sustainable Future 2040 Fund

Shares		Description	Value (†)
	Common Stocks — 83.3% of Net Assets
		Aerospace & Defense — 0.1%
	52	Arconic, Inc.	$	1,289
		Air Freight & Logistics — 0.0%
	11	United Parcel Service, Inc., Class B		1,213
		Auto Components — 2.5%
	15	BorgWarner, Inc.		701
	449	Delphi Automotive PLC		40,599
	12	Goodyear Tire & Rubber Co. (The)		378
	734	Valeo S.A., Sponsored ADR		25,470
				67,148
		Automobiles — 2.2%
	1,268	Byd Co. Ltd., ADR		15,850
	228	Ford Motor Co.		2,558
	358	Toyota Motor Corp., Sponsored ADR		40,397
				58,805
		Banks — 4.7%
	510	Bank of America Corp.		12,301
	162	Citigroup, Inc.		11,089
	93	Citizens Financial Group, Inc.		3,262
	190	Huntington Bancshares, Inc.		2,517
	1,382	KBC Group NV, Sponsored ADR		57,077
	196	KeyCorp		3,536
	550	People’s United Financial, Inc.		9,592
	174	Signature Bank(b)		24,113
	69	Zions Bancorporation		3,127
				126,614
		Beverages — 0.8%
	74	Brown-Forman Corp., Class B		3,655
	167	Coca-Cola Co. (The)		7,655
	5	Dr Pepper Snapple Group, Inc.		456
	19	Molson Coors Brewing Co., Class B		1,691
	24	Monster Beverage Corp.(b)		1,266
	62	PepsiCo, Inc.		7,230
				21,953
		Biotechnology — 0.8%
	18	AbbVie, Inc.		1,258
	15	Amgen, Inc.		2,618
	247	Gilead Sciences, Inc.		18,794
				22,670
		Building Products — 2.0%
	760	A.O. Smith Corp.		40,698
	59	Fortune Brands Home & Security, Inc.		3,875
	280	Johnson Controls International PLC		10,906
				55,479
		Capital Markets — 2.3%
	9	Affiliated Managers Group, Inc.		1,673
	12	Ameriprise Financial, Inc.		1,739
	140	Bank of New York Mellon Corp. (The)		7,424
	14	BlackRock, Inc.		5,971
	29	Charles Schwab Corp. (The)		1,244
	28	CME Group, Inc.		3,433
	114	Franklin Resources, Inc.		5,105
	42	Goldman Sachs Group, Inc. (The)		9,464
	18	Intercontinental Exchange, Inc.		1,201
	36	Invesco Ltd.		1,252
	11	Legg Mason, Inc.		440
	10	Moody’s Corp.		1,316
	21	Nasdaq, Inc.		1,562
	64	Northern Trust Corp.		5,601
	9	S&P Global, Inc.		1,382

See accompanying notes to financial statements.

47  |

Portfolio of Investments – as of July 31, 2017 (Unaudited)

Natixis Sustainable Future 2040 Fund – (continued)

Shares		Description	Value (†)
		Capital Markets — continued
	53	State Street Corp.	$	4,941
	106	T. Rowe Price Group, Inc.		8,768
				62,516
		Chemicals — 5.7%
	16	Air Products & Chemicals, Inc.		2,274
	548	Chr. Hansen Holding AS, Sponsored ADR		22,293
	70	Dow Chemical Co. (The)		4,497
	60	E.I. du Pont de Nemours & Co.		4,933
	339	Ecolab, Inc.		44,636
	123	International Flavors & Fragrances, Inc.		16,381
	288	Novozymes AS, Sponsored ADR		13,300
	65	Praxair, Inc.		8,460
	2,188	Symrise AG, Sponsored ADR		38,159
				154,933
		Commercial Services & Supplies — 0.1%
	77	Pitney Bowes, Inc.		1,212
	12	Stericycle, Inc.(b)		925
				2,137
		Communications Equipment — 0.4%
	324	Cisco Systems, Inc.		10,190
	15	Motorola Solutions, Inc.		1,360
				11,550
		Construction & Engineering — 0.1%
	37	Fluor Corp.		1,607
		Consumer Finance — 0.2%
	46	American Express Co.		3,921
	38	Navient Corp.		560
	51	Synchrony Financial		1,546
				6,027
		Containers & Packaging — 0.3%
	15	Avery Dennison Corp.		1,394
	92	Ball Corp.		3,855
	60	International Paper Co.		3,299
				8,548
		Distributors — 0.0%
	11	Genuine Parts Co.		934
		Diversified Consumer Services — 0.0%
	18	H&R Block, Inc.		549
		Diversified Telecommunication Services — 1.9%
	455	AT&T, Inc.		17,745
	1,340	Deutsche Telekom AG, Sponsored ADR		24,455
	201	Verizon Communications, Inc.		9,728
				51,928
		Electric Utilities — 2.0%
	25	Eversource Energy		1,520
	368	NextEra Energy, Inc.		53,761
				55,281
		Electrical Equipment — 4.1%
	198	Acuity Brands, Inc.		40,125
	528	Eaton Corp. PLC		41,316
	938	Vestas Wind Systems AS, Sponsored ADR		30,480
				111,921
		Electronic Equipment, Instruments & Components — 0.1%
	19	TE Connectivity Ltd.		1,527
		Food & Staples Retailing — 0.4%
	63	CVS Health Corp.		5,035
	93	Sysco Corp.		4,894
				9,929

See accompanying notes to financial statements.

|  48

Portfolio of Investments – as of July 31, 2017 (Unaudited)

Natixis Sustainable Future 2040 Fund – (continued)

Shares		Description	Value (†)
		Food Products — 0.9%
	77	Archer-Daniels-Midland Co.	$	3,248
	15	Campbell Soup Co.		792
	64	Conagra Brands, Inc.		2,191
	30	General Mills, Inc.		1,670
	5	Hershey Co. (The)		527
	20	Hormel Foods Corp.		683
	15	J.M. Smucker Co. (The)		1,829
	41	Kellogg Co.		2,788
	38	Kraft Heinz Co. (The)		3,324
	136	Mondelez International, Inc., Class A		5,987
	15	Tyson Foods, Inc., Class A		950
				23,989
		Health Care Equipment & Supplies — 5.6%
	87	Abbott Laboratories		4,279
	64	Baxter International, Inc.		3,871
	1,634	Coloplast AS, Sponsored ADR		13,954
	11	Cooper Cos., Inc. (The)		2,683
	642	Danaher Corp.		52,317
	815	Essilor International S.A., Sponsored ADR		51,675
	11	Hologic, Inc.(b)		486
	290	Medtronic PLC		24,351
				153,616
		Health Care Providers & Services — 1.0%
	9	Aetna, Inc.		1,389
	5	AmerisourceBergen Corp.		469
	26	Anthem, Inc.		4,841
	5	Cardinal Health, Inc.		386
	8	Centene Corp.(b)		635
	19	Cigna Corp.		3,298
	29	DaVita, Inc.(b)		1,879
	43	Express Scripts Holding Co.(b)		2,694
	26	HCA Healthcare, Inc.(b)		2,089
	5	Humana, Inc.		1,156
	2	Laboratory Corp. of America Holdings(b)		318
	14	McKesson Corp.		2,266
	12	Quest Diagnostics, Inc.		1,300
	16	UnitedHealth Group, Inc.		3,069
	3	Universal Health Services, Inc., Class B		332
				26,121
		Home Construction — 0.6%
	350	Geberit AG, ADR		16,716
		Hotels, Restaurants & Leisure — 0.5%
	11	Carnival Corp.		735
	67	McDonald’s Corp.		10,394
	26	Starbucks Corp.		1,403
	13	Wyndham Worldwide Corp.		1,357
				13,889
		Household Durables — 1.2%
	9	Lennar Corp., Class A		472
	1,793	Sekisui House Ltd., Sponsored ADR		31,377
				31,849
		Household Products — 0.7%
	9	Church & Dwight Co., Inc.		480
	13	Clorox Co. (The)		1,735
	63	Colgate-Palmolive Co.		4,549
	135	Procter & Gamble Co. (The)		12,261
				19,025
		Independent Power & Renewable Electricity Producers — 0.3%
	108	Ormat Technologies, Inc.		6,405
	93	Pattern Energy Group, Inc.		2,334
				8,739

See accompanying notes to financial statements.

49  |

Portfolio of Investments – as of July 31, 2017 (Unaudited)

Natixis Sustainable Future 2040 Fund – (continued)

Shares		Description	Value (†)
		Industrial Conglomerates — 2.7%
	77	3M Co.	$	15,490
	301	General Electric Co.		7,709
	212	Roper Technologies, Inc.		49,281
				72,480
		Insurance — 6.3%
	29	Aflac, Inc.		2,313
	1,638	AIA Group Ltd., Sponsored ADR		51,761
	897	Allianz SE, Sponsored ADR		19,151
	74	Hartford Financial Services Group, Inc. (The)		4,070
	1,616	Legal & General Group PLC, Sponsored ADR		29,088
	130	MetLife, Inc.		7,150
	68	Prudential Financial, Inc.		7,700
	803	Prudential PLC, Sponsored ADR		39,323
	95	Torchmark Corp.		7,502
	65	Unum Group		3,258
				171,316
		Internet & Direct Marketing Retail — 1.7%
	44	Amazon.com, Inc.(b)		43,462
	8	Netflix, Inc.(b)		1,453
	1	Priceline Group, Inc. (The)(b)		2,029
	8	TripAdvisor, Inc.(b)		312
				47,256
		Internet Software & Services — 7.0%
	91	Alphabet, Inc., Class A(b)		86,040
	2	Alphabet, Inc., Class C(b)		1,861
	9	Cars.com, Inc.(b)		219
	23	eBay, Inc.(b)		822
	351	Facebook, Inc., Class A(b)		59,407
	1,046	Tencent Holdings Ltd., ADR		41,798
				190,147
		IT Services — 5.2%
	8	Accenture PLC, Class A		1,031
	37	Cognizant Technology Solutions Corp., Class A		2,565
	20	CSRA, Inc.		652
	50	International Business Machines Corp.		7,233
	331	MasterCard, Inc., Class A		42,302
	25	PayPal Holdings, Inc.(b)		1,464
	845	Visa, Inc., Class A		84,128
	59	Western Union Co. (The)		1,165
				140,540
		Leisure Products — 0.0%
	11	Hasbro, Inc.		1,165
		Life Sciences Tools & Services — 2.8%
	23	Agilent Technologies, Inc.		1,375
	45	Illumina, Inc.(b)		7,823
	381	Thermo Fisher Scientific, Inc.		66,877
				76,075
		Machinery — 1.1%
	63	Caterpillar, Inc.		7,179
	61	Deere & Co.		7,825
	26	Flowserve Corp.		1,069
	18	Parker Hannifin Corp.		2,988
	124	Watts Water Technologies, Inc., Series A		7,986
	54	Xylem, Inc.		3,063
				30,110
		Media — 0.6%
	18	CBS Corp., Class B		1,185
	17	Interpublic Group of Cos., Inc. (The)		367
	62	News Corp., Class A		887
	5	Omnicom Group, Inc.		394

See accompanying notes to financial statements.

|  50

Portfolio of Investments – as of July 31, 2017 (Unaudited)

Natixis Sustainable Future 2040 Fund – (continued)

Shares		Description	Value (†)
		Media — continued
	27	TEGNA, Inc.	$	400
	119	Twenty-First Century Fox, Inc., Class A		3,463
	39	Twenty-First Century Fox, Inc., Class B		1,119
	89	Walt Disney Co. (The)		9,784
				17,599
		Metals & Mining — 0.0%
	23	Newmont Mining Corp.		855
		Multiline Retail — 0.0%
	17	Kohl’s Corp.		703
	8	Target Corp.		453
				1,156
		Personal Products — 1.3%
	11	Estee Lauder Cos., Inc. (The), Class A		1,089
	584	Unilever NV		33,971
				35,060
		Pharmaceuticals — 3.6%
	24	Allergan PLC		6,056
	75	Bristol-Myers Squibb Co.		4,268
	47	Eli Lilly & Co.		3,885
	93	Johnson & Johnson		12,343
	120	Merck & Co., Inc.		7,666
	70	Mylan NV(b)		2,729
	1,158	Novo Nordisk AS, Sponsored ADR		49,099
	293	Pfizer, Inc.		9,716
	22	Zoetis, Inc.		1,375
				97,137
		Professional Services — 0.1%
	19	Verisk Analytics, Inc.(b)		1,658
		Real Estate Management & Development — 0.1%
	64	CBRE Group, Inc., Class A(b)		2,431
		REITs – Apartments — 0.3%
	6	AvalonBay Communities, Inc.		1,154
	48	Equity Residential		3,267
	8	Essex Property Trust, Inc.		2,094
	4	Mid-America Apartment Communities, Inc.		414
				6,929
		REITs – Diversified — 0.6%
	107	Crown Castle International Corp.		10,762
	10	Digital Realty Trust, Inc.		1,154
	21	Vornado Realty Trust		1,666
	101	Weyerhaeuser Co.		3,335
				16,917
		REITs – Health Care — 0.1%
	44	HCP, Inc.		1,393
	35	Ventas, Inc.		2,357
				3,750
		REITs – Office Property — 0.1%
	17	Boston Properties, Inc.		2,055
	11	JBG SMITH Properties(b)		373
				2,428
		REITs – Regional Malls — 0.1%
	15	Simon Property Group, Inc.		2,378
		REITs – Specialty & Other — 0.1%
	3	Equinix, Inc.		1,352
	31	Iron Mountain, Inc.		1,130
				2,482

See accompanying notes to financial statements.

51  |

Portfolio of Investments – as of July 31, 2017 (Unaudited)

Natixis Sustainable Future 2040 Fund – (continued)

Shares		Description	Value (†)
		REITs – Storage — 0.1%
	17	Public Storage	$	3,495
		Road & Rail — 0.6%
	57	CSX Corp.		2,812
	31	Kansas City Southern		3,199
	46	Norfolk Southern Corp.		5,179
	59	Union Pacific Corp.		6,075
				17,265
		Semiconductors & Semiconductor Equipment — 1.2%
	15	Advanced Micro Devices, Inc.(b)		204
	112	ASML Holding NV, (Registered)		16,837
	31	First Solar, Inc.(b)		1,529
	220	Intel Corp.		7,803
	46	Micron Technology, Inc.(b)		1,293
	11	NVIDIA Corp.		1,788
	24	QUALCOMM, Inc.		1,276
	15	Texas Instruments, Inc.		1,221
	7	Xilinx, Inc.		443
				32,394
		Software — 3.3%
	9	Autodesk, Inc.(b)		997
	170	Ellie Mae, Inc.(b)		14,827
	906	Microsoft Corp.		65,866
	145	Oracle Corp.		7,240
	11	Symantec Corp.		341
				89,271
		Specialty Retail — 0.2%
	9	Best Buy Co., Inc.		525
	23	Home Depot, Inc. (The)		3,441
	16	Lowe’s Cos., Inc.		1,238
	44	Staples, Inc.		447
	8	Tiffany & Co.		764
				6,415
		Technology Hardware, Storage & Peripherals — 0.4%
	46	Apple, Inc.		6,842
	29	NetApp, Inc.		1,259
	8	Seagate Technology PLC		264
	26	Western Digital Corp.		2,213
	38	Xerox Corp.		1,165
				11,743
		Textiles, Apparel & Luxury Goods — 1.1%
	2,815	Cie Financiere Richemont S.A., Sponsored ADR		23,843
	43	Hanesbrands, Inc.		986
	59	NIKE, Inc., Class B		3,484
	7	PVH Corp.		835
	8	VF Corp.		497
				29,645
		Trading Companies & Distributors — 0.2%
	48	Fastenal Co.		2,062
	14	W.W. Grainger, Inc.		2,334
				4,396
		Water Utilities — 0.9%
	303	American Water Works Co., Inc.		24,573
		Total Common Stocks (Identified Cost $2,066,142)		2,267,568
	Affiliated Mutual Funds — 12.1%
	10,565	Loomis Sayles Inflation Protected Securities Fund, Class N		109,876
	4,813	Loomis Sayles Limited Term Government and Agency Fund, Class N		54,768

See accompanying notes to financial statements.

|  52

Portfolio of Investments – as of July 31, 2017 (Unaudited)

Natixis Sustainable Future 2040 Fund – (continued)

Shares		Description	Value (†)
	Affiliated Mutual Funds — (continued)
	16,307	Mirova Global Green Bond Fund, Class N(b)	$	164,699
		Total Affiliated Mutual Funds (Identified Cost $328,787)		329,343
	Closed-End Investment Companies — 0.0%
	15	Altaba, Inc.(b) (Identified Cost $822)		876
		Total Investments — 95.4% (Identified Cost $2,395,751)(a)		2,597,787
		Other assets less liabilities — 4.6%		125,914
		Net Assets — 100.0%	$	2,723,701
	(†)	See Note 2 of Notes to Financial Statements.
	(a)	Federal Tax Information (Amounts exclude certain adjustments that will be made at the end of the Fund’s fiscal year for tax purposes. Such adjustments are primarily due to wash sales.):
		At July 31, 2017, the net unrealized appreciation on investments based on a cost of $2,395,751 for federal income tax purposes was as follows:
		Aggregate gross unrealized appreciation for all investments in which there is an excess of value over tax cost	$	225,785
		Aggregate gross unrealized depreciation for all investments in which there is an excess of tax cost over value		(23,749	)
		Net unrealized appreciation	$	202,036
	(b)	Non-income producing security.
	ADR	An American Depositary Receipt is a certificate issued by a custodian bank representing the right to receive securities of the foreign issuer described. The values of ADRs may be significantly influenced by trading on exchanges not located in the United States.
	REITs	Real Estate Investment Trusts

Industry Summary at July 31, 2017 (Unaudited)

Affiliated Mutual Funds	12.1	%
Internet Software & Services	7.0
Insurance	6.3
Chemicals	5.7
Health Care Equipment & Supplies	5.6
IT Services	5.2
Banks	4.7
Electrical Equipment	4.1
Pharmaceuticals	3.6
Software	3.3
Life Sciences Tools & Services	2.8
Industrial Conglomerates	2.7
Auto Components	2.5
Capital Markets	2.3
Automobiles	2.2
Building Products	2.0
Electric Utilities	2.0
Other Investments, less than 2% each	21.3
Total Investments	95.4
Other assets less liabilities	4.6
Net Assets	100.0	%

Asset Allocation Summary at July 31, 2017 (Unaudited)

Equity	83.3	%
Fixed-Income	12.1
Total Investments	95.4
Other assets less liabilities	4.6
Net Assets	100.0	%

See accompanying notes to financial statements.

53  |

Portfolio of Investments – as of July 31, 2017 (Unaudited)

Natixis Sustainable Future 2045 Fund

Shares		Description	Value (†)
	Common Stocks — 87.0% of Net Assets
		Aerospace & Defense — 0.1%
	44	Arconic, Inc.	$	1,091
		Air Freight & Logistics — 0.0%
	8	United Parcel Service, Inc., Class B		882
		Auto Components — 2.7%
	13	BorgWarner, Inc.		608
	396	Delphi Automotive PLC		35,806
	10	Goodyear Tire & Rubber Co. (The)		315
	651	Valeo S.A., Sponsored ADR		22,590
				59,319
		Automobiles — 2.3%
	1,049	Byd Co. Ltd., ADR		13,113
	193	Ford Motor Co.		2,165
	315	Toyota Motor Corp., Sponsored ADR		35,545
				50,823
		Banks — 4.8%
	377	Bank of America Corp.		9,093
	116	Citigroup, Inc.		7,940
	74	Citizens Financial Group, Inc.		2,596
	153	Huntington Bancshares, Inc.		2,027
	1,217	KBC Group NV, Sponsored ADR		50,262
	158	KeyCorp		2,850
	431	People’s United Financial, Inc.		7,517
	151	Signature Bank(b)		20,926
	55	Zions Bancorporation		2,493
				105,704
		Beverages — 0.8%
	51	Brown-Forman Corp., Class B		2,519
	126	Coca-Cola Co. (The)		5,776
	4	Dr Pepper Snapple Group, Inc.		365
	16	Molson Coors Brewing Co., Class B		1,424
	23	Monster Beverage Corp.(b)		1,213
	44	PepsiCo, Inc.		5,131
				16,428
		Biotechnology — 0.8%
	13	AbbVie, Inc.		909
	11	Amgen, Inc.		1,920
	206	Gilead Sciences, Inc.		15,674
				18,503
		Building Products — 2.2%
	668	A.O. Smith Corp.		35,771
	47	Fortune Brands Home & Security, Inc.		3,087
	211	Johnson Controls International PLC		8,218
				47,076
		Capital Markets — 2.2%
	7	Affiliated Managers Group, Inc.		1,301
	10	Ameriprise Financial, Inc.		1,449
	107	Bank of New York Mellon Corp. (The)		5,674
	11	BlackRock, Inc.		4,692
	25	Charles Schwab Corp. (The)		1,072
	22	CME Group, Inc.		2,698
	85	Franklin Resources, Inc.		3,806
	30	Goldman Sachs Group, Inc. (The)		6,760
	17	Intercontinental Exchange, Inc.		1,134
	33	Invesco Ltd.		1,147
	11	Legg Mason, Inc.		440
	7	Moody’s Corp.		921
	18	Nasdaq, Inc.		1,339
	54	Northern Trust Corp.		4,726
	6	S&P Global, Inc.		922

See accompanying notes to financial statements.

|  54

Portfolio of Investments – as of July 31, 2017 (Unaudited)

Natixis Sustainable Future 2045 Fund – (continued)

Shares		Description	Value (†)
		Capital Markets — continued
	45	State Street Corp.	$	4,195
	80	T. Rowe Price Group, Inc.		6,618
				48,894
		Chemicals — 5.9%
	11	Air Products & Chemicals, Inc.		1,564
	454	Chr. Hansen Holding AS, Sponsored ADR		18,469
	50	Dow Chemical Co. (The)		3,212
	43	E.I. du Pont de Nemours & Co.		3,535
	295	Ecolab, Inc.		38,843
	101	International Flavors & Fragrances, Inc.		13,451
	239	Novozymes AS, Sponsored ADR		11,037
	46	Praxair, Inc.		5,987
	1,907	Symrise AG, Sponsored ADR		33,258
				129,356
		Commercial Services & Supplies — 0.1%
	31	Pitney Bowes, Inc.		488
	10	Stericycle, Inc.(b)		771
				1,259
		Communications Equipment — 0.4%
	253	Cisco Systems, Inc.		7,957
	13	Motorola Solutions, Inc.		1,179
				9,136
		Construction & Engineering — 0.1%
	31	Fluor Corp.		1,346
		Consumer Finance — 0.2%
	39	American Express Co.		3,324
	33	Navient Corp.		487
	38	Synchrony Financial		1,152
				4,963
		Containers & Packaging — 0.3%
	12	Avery Dennison Corp.		1,115
	78	Ball Corp.		3,269
	43	International Paper Co.		2,364
				6,748
		Distributors — 0.0%
	9	Genuine Parts Co.		764
		Diversified Consumer Services — 0.0%
	15	H&R Block, Inc.		458
		Diversified Telecommunication Services — 1.9%
	346	AT&T, Inc.		13,494
	1,109	Deutsche Telekom AG, Sponsored ADR		20,239
	148	Verizon Communications, Inc.		7,163
				40,896
		Electric Utilities — 2.2%
	20	Eversource Energy		1,216
	320	NextEra Energy, Inc.		46,749
				47,965
		Electrical Equipment — 4.4%
	172	Acuity Brands, Inc.		34,856
	454	Eaton Corp. PLC		35,525
	776	Vestas Wind Systems AS, Sponsored ADR		25,216
				95,597
		Electronic Equipment, Instruments & Components — 0.1%
	14	TE Connectivity Ltd.		1,125
		Food & Staples Retailing — 0.4%
	50	CVS Health Corp.		3,997
	76	Sysco Corp.		3,999
				7,996

See accompanying notes to financial statements.

55  |

Portfolio of Investments – as of July 31, 2017 (Unaudited)

Natixis Sustainable Future 2045 Fund – (continued)

Shares		Description	Value (†)
		Food Products — 0.8%
	54	Archer-Daniels-Midland Co.	$	2,278
	13	Campbell Soup Co.		687
	54	Conagra Brands, Inc.		1,849
	25	General Mills, Inc.		1,391
	3	Hershey Co. (The)		316
	5	Hormel Foods Corp.		171
	12	J.M. Smucker Co. (The)		1,463
	33	Kellogg Co.		2,244
	27	Kraft Heinz Co. (The)		2,361
	104	Mondelez International, Inc., Class A		4,578
	5	Tyson Foods, Inc., Class A		317
				17,655
		Health Care Equipment & Supplies — 6.0%
	66	Abbott Laboratories		3,246
	48	Baxter International, Inc.		2,903
	1,352	Coloplast AS, Sponsored ADR		11,546
	9	Cooper Cos., Inc. (The)		2,195
	560	Danaher Corp.		45,634
	707	Essilor International S.A., Sponsored ADR		44,827
	238	Medtronic PLC		19,985
				130,336
		Health Care Providers & Services — 1.0%
	6	Aetna, Inc.		926
	4	AmerisourceBergen Corp.		375
	20	Anthem, Inc.		3,724
	4	Cardinal Health, Inc.		309
	1	Centene Corp.(b)		79
	15	Cigna Corp.		2,603
	25	DaVita, Inc.(b)		1,620
	2	Envision Healthcare Corp.(b)		113
	37	Express Scripts Holding Co.(b)		2,318
	22	HCA Healthcare, Inc.(b)		1,767
	4	Humana, Inc.		925
	2	Laboratory Corp. of America Holdings(b)		318
	12	McKesson Corp.		1,942
	10	Quest Diagnostics, Inc.		1,083
	13	UnitedHealth Group, Inc.		2,494
	2	Universal Health Services, Inc., Class B		222
				20,818
		Home Construction — 0.6%
	290	Geberit AG, ADR		13,850
		Hotels, Restaurants & Leisure — 0.5%
	9	Carnival Corp.		601
	49	McDonald’s Corp.		7,602
	23	Starbucks Corp.		1,241
	10	Wyndham Worldwide Corp.		1,044
				10,488
		Household Durables — 1.3%
	8	Lennar Corp., Class A		420
	1,587	Sekisui House Ltd., Sponsored ADR		27,772
				28,192
		Household Products — 0.7%
	7	Church & Dwight Co., Inc.		374
	11	Clorox Co. (The)		1,468
	47	Colgate-Palmolive Co.		3,393
	100	Procter & Gamble Co. (The)		9,082
				14,317
		Independent Power & Renewable Electricity Producers — 0.3%
	86	Ormat Technologies, Inc.		5,100
	74	Pattern Energy Group, Inc.		1,857
				6,957

See accompanying notes to financial statements.

|  56

Portfolio of Investments – as of July 31, 2017 (Unaudited)

Natixis Sustainable Future 2045 Fund – (continued)

Shares		Description	Value (†)
		Industrial Conglomerates — 2.8%
	60	3M Co.	$	12,070
	227	General Electric Co.		5,813
	186	Roper Technologies, Inc.		43,238
				61,121
		Insurance — 6.6%
	23	Aflac, Inc.		1,834
	1,442	AIA Group Ltd., Sponsored ADR		45,567
	743	Allianz SE, Sponsored ADR		15,863
	2	Allstate Corp. (The)		182
	63	Hartford Financial Services Group, Inc. (The)		3,465
	1,338	Legal & General Group PLC, Sponsored ADR		24,084
	95	MetLife, Inc.		5,225
	48	Prudential Financial, Inc.		5,435
	709	Prudential PLC, Sponsored ADR		34,720
	71	Torchmark Corp.		5,607
	55	Unum Group		2,757
				144,739
		Internet & Direct Marketing Retail — 1.8%
	37	Amazon.com, Inc.(b)		36,548
	7	Netflix, Inc.(b)		1,272
	1	Priceline Group, Inc. (The)(b)		2,028
	7	TripAdvisor, Inc.(b)		273
				40,121
		Internet Software & Services — 7.6%
	79	Alphabet, Inc., Class A(b)		74,694
	2	Alphabet, Inc., Class C(b)		1,861
	7	Cars.com, Inc.(b)		170
	20	eBay, Inc.(b)		715
	303	Facebook, Inc., Class A(b)		51,283
	921	Tencent Holdings Ltd., ADR		36,803
				165,526
		IT Services — 5.5%
	6	Accenture PLC, Class A		773
	29	Cognizant Technology Solutions Corp., Class A		2,010
	17	CSRA, Inc.		554
	37	International Business Machines Corp.		5,353
	286	MasterCard, Inc., Class A		36,551
	20	PayPal Holdings, Inc.(b)		1,171
	730	Visa, Inc., Class A		72,679
	50	Western Union Co. (The)		988
				120,079
		Leisure Products — 0.0%
	8	Hasbro, Inc.		847
		Life Sciences Tools & Services — 3.0%
	20	Agilent Technologies, Inc.		1,196
	37	Illumina, Inc.(b)		6,432
	333	Thermo Fisher Scientific, Inc.		58,452
				66,080
		Machinery — 1.1%
	48	Caterpillar, Inc.		5,469
	46	Deere & Co.		5,901
	23	Flowserve Corp.		946
	15	Parker Hannifin Corp.		2,490
	102	Watts Water Technologies, Inc., Series A		6,569
	43	Xylem, Inc.		2,439
				23,814
		Media — 0.6%
	11	CBS Corp., Class B		724
	14	Interpublic Group of Cos., Inc. (The)		303

See accompanying notes to financial statements.

57  |

Portfolio of Investments – as of July 31, 2017 (Unaudited)

Natixis Sustainable Future 2045 Fund – (continued)

Shares		Description	Value (†)
		Media — continued
	52	News Corp., Class A	$	744
	4	Omnicom Group, Inc.		315
	23	TEGNA, Inc.		341
	79	Twenty-First Century Fox, Inc., Class A		2,299
	33	Twenty-First Century Fox, Inc., Class B		947
	69	Walt Disney Co. (The)		7,585
				13,258
		Metals & Mining — 0.0%
	13	Newmont Mining Corp.		483
		Multiline Retail — 0.0%
	14	Kohl’s Corp.		579
	7	Target Corp.		397
				976
		Personal Products — 1.4%
	10	Estee Lauder Cos., Inc. (The), Class A		990
	517	Unilever NV		30,074
				31,064
		Pharmaceuticals — 3.7%
	19	Allergan PLC		4,794
	62	Bristol-Myers Squibb Co.		3,528
	36	Eli Lilly & Co.		2,976
	70	Johnson & Johnson		9,290
	90	Merck & Co., Inc.		5,749
	59	Mylan NV(b)		2,300
	1,015	Novo Nordisk AS, Sponsored ADR		43,036
	228	Pfizer, Inc.		7,561
	19	Zoetis, Inc.		1,188
				80,422
		Professional Services — 0.1%
	14	Verisk Analytics, Inc.(b)		1,222
		Real Estate Management & Development — 0.1%
	55	CBRE Group, Inc., Class A(b)		2,089
		REITs – Apartments — 0.3%
	6	AvalonBay Communities, Inc.		1,154
	38	Equity Residential		2,586
	7	Essex Property Trust, Inc.		1,832
	4	Mid-America Apartment Communities, Inc.		414
				5,986
		REITs – Diversified — 0.6%
	77	Crown Castle International Corp.		7,745
	7	Digital Realty Trust, Inc.		807
	18	Vornado Realty Trust		1,428
	86	Weyerhaeuser Co.		2,840
				12,820
		REITs – Health Care — 0.1%
	37	HCP, Inc.		1,171
	30	Ventas, Inc.		2,021
				3,192
		REITs – Office Property — 0.1%
	15	Boston Properties, Inc.		1,814
	9	JBG SMITH Properties(b)		319
				2,133
		REITs – Regional Malls — 0.1%
	2	Macerich Co. (The)		115
	11	Simon Property Group, Inc.		1,743
				1,858

See accompanying notes to financial statements.

|  58

Portfolio of Investments – as of July 31, 2017 (Unaudited)

Natixis Sustainable Future 2045 Fund – (continued)

Shares		Description	Value (†)
		REITs – Specialty & Other — 0.1%
	3	Equinix, Inc.	$	1,352
	26	Iron Mountain, Inc.		947
				2,299
		REITs – Storage — 0.1%
	12	Public Storage		2,467
		Road & Rail — 0.6%
	40	CSX Corp.		1,974
	24	Kansas City Southern		2,477
	37	Norfolk Southern Corp.		4,165
	48	Union Pacific Corp.		4,942
				13,558
		Semiconductors & Semiconductor Equipment — 1.2%
	13	Advanced Micro Devices, Inc.(b)		177
	93	ASML Holding NV, (Registered)		13,981
	27	First Solar, Inc.(b)		1,331
	183	Intel Corp.		6,491
	39	Micron Technology, Inc.(b)		1,097
	8	NVIDIA Corp.		1,300
	21	QUALCOMM, Inc.		1,117
	13	Texas Instruments, Inc.		1,058
				26,552
		Software — 3.5%
	8	Autodesk, Inc.(b)		886
	147	Ellie Mae, Inc.(b)		12,821
	782	Microsoft Corp.		56,851
	108	Oracle Corp.		5,393
	9	Symantec Corp.		279
				76,230
		Specialty Retail — 0.2%
	8	Best Buy Co., Inc.		467
	19	Home Depot, Inc. (The)		2,842
	14	Lowe’s Cos., Inc.		1,084
	38	Staples, Inc.		386
	7	Tiffany & Co.		668
				5,447
		Technology Hardware, Storage & Peripherals — 0.5%
	38	Apple, Inc.		5,652
	25	NetApp, Inc.		1,085
	7	Seagate Technology PLC		231
	23	Western Digital Corp.		1,958
	32	Xerox Corp.		981
				9,907
		Textiles, Apparel & Luxury Goods — 1.1%
	2,330	Cie Financiere Richemont S.A., Sponsored ADR		19,735
	15	Hanesbrands, Inc.		344
	49	NIKE, Inc., Class B		2,893
	6	PVH Corp.		716
	7	VF Corp.		435
				24,123
		Trading Companies & Distributors — 0.2%
	39	Fastenal Co.		1,676
	11	W.W. Grainger, Inc.		1,834
				3,510
		Water Utilities — 0.9%
	249	American Water Works Co., Inc.		20,194
		Total Common Stocks (Identified Cost $1,734,409)		1,901,059

See accompanying notes to financial statements.

59  |

Portfolio of Investments – as of July 31, 2017 (Unaudited)

Natixis Sustainable Future 2045 Fund – (continued)

Shares		Description	Value (†)
	Affiliated Mutual Funds — 8.1%
	4,266	Loomis Sayles Inflation Protected Securities Fund, Class N	$	44,366
	3,885	Loomis Sayles Limited Term Government and Agency Fund, Class N		44,215
	8,778	Mirova Global Green Bond Fund, Class N(b)		88,661
		Total Affiliated Mutual Funds (Identified Cost $176,836)		177,242
	Closed-End Investment Companies — 0.0%
	13	Altaba, Inc.(b) (Identified Cost $713)		759
		Total Investments — 95.1% (Identified Cost $1,911,958)(a)		2,079,060
		Other assets less liabilities — 4.9%		106,609
		Net Assets — 100.0%	$	2,185,669
	(†)	See Note 2 of Notes to Financial Statements.
	(a)	Federal Tax Information (Amounts exclude certain adjustments that will be made at the end of the Fund’s fiscal year for tax purposes. Such adjustments are primarily due to wash sales.):
		At July 31, 2017, the net unrealized appreciation on investments based on a cost of $1,911,958 for federal income tax purposes was as follows:
		Aggregate gross unrealized appreciation for all investments in which there is an excess of value over tax cost	$	185,622
		Aggregate gross unrealized depreciation for all investments in which there is an excess of tax cost over value		(18,520	)
		Net unrealized appreciation	$	167,102
	(b)	Non-income producing security.
	ADR	An American Depositary Receipt is a certificate issued by a custodian bank representing the right to receive securities of the foreign issuer described. The values of ADRs may be significantly influenced by trading on exchanges not located in the United States.
	REITs	Real Estate Investment Trusts

Industry Summary at July 31, 2017 (Unaudited)

Affiliated Mutual Funds	8.1	%
Internet Software & Services	7.6
Insurance	6.6
Health Care Equipment & Supplies	6.0
Chemicals	5.9
IT Services	5.5
Banks	4.8
Electrical Equipment	4.4
Pharmaceuticals	3.7
Software	3.5
Life Sciences Tools & Services	3.0
Industrial Conglomerates	2.8
Auto Components	2.7
Automobiles	2.3
Capital Markets	2.2
Electric Utilities	2.2
Building Products	2.2
Other Investments, less than 2% each	21.6
Total Investments	95.1
Other assets less liabilities	4.9
Net Assets	100.0	%

Asset Allocation Summary at July 31, 2017 (Unaudited)

Equity	87.0	%
Fixed-Income	8.1
Total Investments	95.1
Other assets less liabilities	4.9
Net Assets	100.0	%

See accompanying notes to financial statements.

|  60

Portfolio of Investments – as of July 31, 2017 (Unaudited)

Natixis Sustainable Future 2050 Fund

Shares		Description	Value (†)
	Common Stocks — 88.8% of Net Assets
		Aerospace & Defense — 0.0%
	44	Arconic, Inc.	$	1,091
		Air Freight & Logistics — 0.0%
	8	United Parcel Service, Inc., Class B		882
		Auto Components — 2.8%
	13	BorgWarner, Inc.		608
	409	Delphi Automotive PLC		36,982
	10	Goodyear Tire & Rubber Co. (The)		315
	672	Valeo S.A., Sponsored ADR		23,318
				61,223
		Automobiles — 2.4%
	1,084	Byd Co. Ltd., ADR		13,550
	193	Ford Motor Co.		2,165
	325	Toyota Motor Corp., Sponsored ADR		36,673
				52,388
		Banks — 4.9%
	378	Bank of America Corp.		9,117
	116	Citigroup, Inc.		7,940
	74	Citizens Financial Group, Inc.		2,596
	153	Huntington Bancshares, Inc.		2,027
	1,256	KBC Group NV, Sponsored ADR		51,873
	158	KeyCorp		2,850
	431	People’s United Financial, Inc.		7,517
	156	Signature Bank(b)		21,619
	55	Zions Bancorporation		2,493
				108,032
		Beverages — 0.8%
	51	Brown-Forman Corp., Class B		2,519
	126	Coca-Cola Co. (The)		5,776
	4	Dr Pepper Snapple Group, Inc.		365
	16	Molson Coors Brewing Co., Class B		1,424
	23	Monster Beverage Corp.(b)		1,213
	44	PepsiCo, Inc.		5,131
				16,428
		Biotechnology — 0.9%
	13	AbbVie, Inc.		909
	11	Amgen, Inc.		1,920
	212	Gilead Sciences, Inc.		16,131
				18,960
		Building Products — 2.2%
	689	A.O. Smith Corp.		36,896
	47	Fortune Brands Home & Security, Inc.		3,087
	211	Johnson Controls International PLC		8,218
				48,201
		Capital Markets — 2.2%
	7	Affiliated Managers Group, Inc.		1,301
	10	Ameriprise Financial, Inc.		1,449
	107	Bank of New York Mellon Corp. (The)		5,674
	11	BlackRock, Inc.		4,692
	25	Charles Schwab Corp. (The)		1,072
	22	CME Group, Inc.		2,698
	85	Franklin Resources, Inc.		3,806
	30	Goldman Sachs Group, Inc. (The)		6,760
	17	Intercontinental Exchange, Inc.		1,134
	34	Invesco Ltd.		1,182
	11	Legg Mason, Inc.		440
	7	Moody’s Corp.		921
	18	Nasdaq, Inc.		1,339
	54	Northern Trust Corp.		4,725
	6	S&P Global, Inc.		922

See accompanying notes to financial statements.

61  |

Portfolio of Investments – as of July 31, 2017 (Unaudited)

Natixis Sustainable Future 2050 Fund – (continued)

Shares		Description	Value (†)
		Capital Markets — continued
	45	State Street Corp.	$	4,195
	80	T. Rowe Price Group, Inc.		6,618
				48,928
		Chemicals — 6.1%
	14	Air Products & Chemicals, Inc.		1,990
	469	Chr. Hansen Holding AS, Sponsored ADR		19,079
	50	Dow Chemical Co. (The)		3,212
	43	E.I. du Pont de Nemours & Co.		3,535
	299	Ecolab, Inc.		39,369
	104	International Flavors & Fragrances, Inc.		13,851
	247	Novozymes AS, Sponsored ADR		11,407
	46	Praxair, Inc.		5,987
	1,968	Symrise AG, Sponsored ADR		34,322
				132,752
		Commercial Services & Supplies — 0.1%
	31	Pitney Bowes, Inc.		488
	10	Stericycle, Inc.(b)		771
				1,259
		Communications Equipment — 0.4%
	253	Cisco Systems, Inc.		7,957
	13	Motorola Solutions, Inc.		1,179
				9,136
		Construction & Engineering — 0.1%
	31	Fluor Corp.		1,346
		Consumer Finance — 0.2%
	39	American Express Co.		3,324
	33	Navient Corp.		487
	38	Synchrony Financial		1,152
				4,963
		Containers & Packaging — 0.3%
	12	Avery Dennison Corp.		1,115
	78	Ball Corp.		3,268
	43	International Paper Co.		2,364
				6,747
		Distributors — 0.0%
	9	Genuine Parts Co.		764
		Diversified Consumer Services — 0.0%
	15	H&R Block, Inc.		458
		Diversified Telecommunication Services — 1.9%
	347	AT&T, Inc.		13,533
	1,146	Deutsche Telekom AG, Sponsored ADR		20,915
	148	Verizon Communications, Inc.		7,163
				41,611
		Electric Utilities — 2.3%
	20	Eversource Energy		1,216
	330	NextEra Energy, Inc.		48,209
				49,425
		Electrical Equipment — 4.5%
	177	Acuity Brands, Inc.		35,869
	468	Eaton Corp. PLC		36,621
	802	Vestas Wind Systems AS, Sponsored ADR		26,061
				98,551
		Electronic Equipment, Instruments & Components — 0.1%
	14	TE Connectivity Ltd.		1,125
		Food & Staples Retailing — 0.4%
	50	CVS Health Corp.		3,997
	76	Sysco Corp.		3,999
				7,996

See accompanying notes to financial statements.

|  62

Portfolio of Investments – as of July 31, 2017 (Unaudited)

Natixis Sustainable Future 2050 Fund – (continued)

Shares		Description	Value (†)
		Food Products — 0.8%
	55	Archer-Daniels-Midland Co.	$	2,320
	13	Campbell Soup Co.		687
	54	Conagra Brands, Inc.		1,849
	25	General Mills, Inc.		1,391
	3	Hershey Co. (The)		316
	5	Hormel Foods Corp.		171
	12	J.M. Smucker Co. (The)		1,463
	33	Kellogg Co.		2,244
	27	Kraft Heinz Co. (The)		2,361
	105	Mondelez International, Inc., Class A		4,622
	5	Tyson Foods, Inc., Class A		317
				17,741
		Health Care Equipment & Supplies — 6.1%
	66	Abbott Laboratories		3,246
	48	Baxter International, Inc.		2,903
	1,397	Coloplast AS, Sponsored ADR		11,930
	9	Cooper Cos., Inc. (The)		2,195
	577	Danaher Corp.		47,020
	730	Essilor International S.A., Sponsored ADR		46,285
	244	Medtronic PLC		20,489
				134,068
		Health Care Providers & Services — 1.0%
	6	Aetna, Inc.		926
	4	AmerisourceBergen Corp.		375
	20	Anthem, Inc.		3,724
	4	Cardinal Health, Inc.		309
	1	Centene Corp.(b)		79
	15	Cigna Corp.		2,603
	25	DaVita, Inc.(b)		1,620
	2	Envision Healthcare Corp.(b)		113
	37	Express Scripts Holding Co.(b)		2,318
	22	HCA Healthcare, Inc.(b)		1,767
	4	Humana, Inc.		925
	2	Laboratory Corp. of America Holdings(b)		318
	12	McKesson Corp.		1,942
	10	Quest Diagnostics, Inc.		1,083
	13	UnitedHealth Group, Inc.		2,494
	2	Universal Health Services, Inc., Class B		222
				20,818
		Home Construction — 0.7%
	300	Geberit AG, ADR		14,328
		Hotels, Restaurants & Leisure — 0.5%
	9	Carnival Corp.		601
	49	McDonald’s Corp.		7,602
	23	Starbucks Corp.		1,241
	10	Wyndham Worldwide Corp.		1,044
				10,488
		Household Durables — 1.3%
	8	Lennar Corp., Class A		420
	1,629	Sekisui House Ltd., Sponsored ADR		28,507
				28,927
		Household Products — 0.7%
	7	Church & Dwight Co., Inc.		373
	11	Clorox Co. (The)		1,468
	48	Colgate-Palmolive Co.		3,466
	100	Procter & Gamble Co. (The)		9,082
				14,389
		Independent Power & Renewable Electricity Producers — 0.3%
	87	Ormat Technologies, Inc.		5,159
	74	Pattern Energy Group, Inc.		1,857
				7,016

See accompanying notes to financial statements.

63  |

Portfolio of Investments – as of July 31, 2017 (Unaudited)

Natixis Sustainable Future 2050 Fund – (continued)

Shares		Description	Value (†)
		Industrial Conglomerates — 2.8%
	59	3M Co.	$	11,869
	227	General Electric Co.		5,814
	190	Roper Technologies, Inc.		44,167
				61,850
		Insurance — 6.8%
	23	Aflac, Inc.		1,834
	1,488	AIA Group Ltd., Sponsored ADR		47,021
	767	Allianz SE, Sponsored ADR		16,376
	2	Allstate Corp. (The)		182
	63	Hartford Financial Services Group, Inc. (The)		3,465
	1,468	Legal & General Group PLC, Sponsored ADR		26,424
	95	MetLife, Inc.		5,225
	49	Prudential Financial, Inc.		5,548
	722	Prudential PLC, Sponsored ADR		35,356
	71	Torchmark Corp.		5,607
	55	Unum Group		2,757
				149,795
		Internet & Direct Marketing Retail — 1.9%
	38	Amazon.com, Inc.(b)		37,536
	7	Netflix, Inc.(b)		1,272
	1	Priceline Group, Inc. (The)(b)		2,028
	7	TripAdvisor, Inc.(b)		273
				41,109
		Internet Software & Services — 7.8%
	81	Alphabet, Inc., Class A(b)		76,585
	2	Alphabet, Inc., Class C(b)		1,861
	7	Cars.com, Inc.(b)		170
	20	eBay, Inc.(b)		715
	312	Facebook, Inc., Class A(b)		52,806
	950	Tencent Holdings Ltd., ADR		37,962
				170,099
		IT Services — 5.6%
	6	Accenture PLC, Class A		773
	28	Cognizant Technology Solutions Corp., Class A		1,941
	17	CSRA, Inc.		554
	37	International Business Machines Corp.		5,353
	294	MasterCard, Inc., Class A		37,573
	20	PayPal Holdings, Inc.(b)		1,171
	753	Visa, Inc., Class A		74,969
	50	Western Union Co. (The)		987
				123,321
		Leisure Products — 0.0%
	8	Hasbro, Inc.		847
		Life Sciences Tools & Services — 3.1%
	20	Agilent Technologies, Inc.		1,196
	38	Illumina, Inc.(b)		6,606
	343	Thermo Fisher Scientific, Inc.		60,207
				68,009
		Machinery — 1.1%
	48	Caterpillar, Inc.		5,470
	46	Deere & Co.		5,901
	23	Flowserve Corp.		946
	15	Parker Hannifin Corp.		2,490
	106	Watts Water Technologies, Inc., Series A		6,826
	43	Xylem, Inc.		2,439
				24,072
		Media — 0.6%
	12	CBS Corp., Class B		790
	14	Interpublic Group of Cos., Inc. (The)		303
	52	News Corp., Class A		744

See accompanying notes to financial statements.

|  64

Portfolio of Investments – as of July 31, 2017 (Unaudited)

Natixis Sustainable Future 2050 Fund – (continued)

Shares		Description	Value (†)
		Media — continued
	4	Omnicom Group, Inc.	$	315
	23	TEGNA, Inc.		341
	80	Twenty-First Century Fox, Inc., Class A		2,328
	33	Twenty-First Century Fox, Inc., Class B		947
	70	Walt Disney Co. (The)		7,695
				13,463
		Metals & Mining — 0.0%
	13	Newmont Mining Corp.		483
		Multiline Retail — 0.0%
	14	Kohl’s Corp.		579
	7	Target Corp.		397
				976
		Personal Products — 1.4%
	11	Estee Lauder Cos., Inc. (The), Class A		1,089
	526	Unilever NV		30,597
				31,686
		Pharmaceuticals — 3.7%
	19	Allergan PLC		4,794
	62	Bristol-Myers Squibb Co.		3,528
	36	Eli Lilly & Co.		2,976
	70	Johnson & Johnson		9,290
	91	Merck & Co., Inc.		5,813
	59	Mylan NV(b)		2,300
	1,047	Novo Nordisk AS, Sponsored ADR		44,393
	228	Pfizer, Inc.		7,561
	19	Zoetis, Inc.		1,188
				81,843
		Professional Services — 0.1%
	14	Verisk Analytics, Inc.(b)		1,222
		Real Estate Management & Development — 0.1%
	55	CBRE Group, Inc., Class A(b)		2,089
		REITs – Apartments — 0.3%
	6	AvalonBay Communities, Inc.		1,154
	38	Equity Residential		2,586
	7	Essex Property Trust, Inc.		1,832
	4	Mid-America Apartment Communities, Inc.		414
				5,986
		REITs – Diversified — 0.6%
	77	Crown Castle International Corp.		7,745
	7	Digital Realty Trust, Inc.		807
	18	Vornado Realty Trust		1,428
	86	Weyerhaeuser Co.		2,840
				12,820
		REITs – Health Care — 0.1%
	37	HCP, Inc.		1,171
	30	Ventas, Inc.		2,021
				3,192
		REITs – Office Property — 0.1%
	15	Boston Properties, Inc.		1,814
	9	JBG SMITH Properties(b)		319
				2,133
		REITs – Regional Malls — 0.1%
	3	Macerich Co. (The)		172
	11	Simon Property Group, Inc.		1,744
				1,916
		REITs – Specialty & Other — 0.1%
	3	Equinix, Inc.		1,352
	26	Iron Mountain, Inc.		947
				2,299

See accompanying notes to financial statements.

65  |

Portfolio of Investments – as of July 31, 2017 (Unaudited)

Natixis Sustainable Future 2050 Fund – (continued)

Shares		Description	Value (†)
		REITs – Storage — 0.1%
	12	Public Storage	$	2,467
		Road & Rail — 0.6%
	40	CSX Corp.		1,974
	24	Kansas City Southern		2,477
	37	Norfolk Southern Corp.		4,165
	48	Union Pacific Corp.		4,942
				13,558
		Semiconductors & Semiconductor Equipment — 1.2%
	13	Advanced Micro Devices, Inc.(b)		177
	96	ASML Holding NV, (Registered)		14,432
	27	First Solar, Inc.(b)		1,331
	183	Intel Corp.		6,491
	39	Micron Technology, Inc.(b)		1,097
	8	NVIDIA Corp.		1,300
	21	QUALCOMM, Inc.		1,117
	13	Texas Instruments, Inc.		1,058
				27,003
		Software — 3.6%
	8	Autodesk, Inc.(b)		886
	152	Ellie Mae, Inc.(b)		13,258
	805	Microsoft Corp.		58,524
	108	Oracle Corp.		5,392
	9	Symantec Corp.		279
				78,339
		Specialty Retail — 0.2%
	8	Best Buy Co., Inc.		467
	19	Home Depot, Inc. (The)		2,842
	14	Lowe’s Cos., Inc.		1,084
	38	Staples, Inc.		386
	7	Tiffany & Co.		668
				5,447
		Technology Hardware, Storage & Peripherals — 0.5%
	38	Apple, Inc.		5,652
	25	NetApp, Inc.		1,085
	7	Seagate Technology PLC		231
	23	Western Digital Corp.		1,958
	32	Xerox Corp.		981
				9,907
		Textiles, Apparel & Luxury Goods — 1.1%
	2,408	Cie Financiere Richemont S.A., Sponsored ADR		20,396
	15	Hanesbrands, Inc.		344
	49	NIKE, Inc., Class B		2,893
	6	PVH Corp.		716
	7	VF Corp.		435
				24,784
		Trading Companies & Distributors — 0.2%
	39	Fastenal Co.		1,676
	11	W.W. Grainger, Inc.		1,834
				3,510
		Water Utilities — 1.0%
	258	American Water Works Co., Inc.		20,924
		Total Common Stocks (Identified Cost $1,773,249)		1,945,190
	Affiliated Mutual Funds — 6.1%
	4,279	Loomis Sayles Inflation Protected Securities Fund, Class N		44,501
	1,949	Loomis Sayles Limited Term Government and Agency Fund, Class N		22,182
	6,604	Mirova Global Green Bond Fund, Class N(b)		66,705
		Total Affiliated Mutual Funds (Identified Cost $133,166)		133,388

See accompanying notes to financial statements.

|  66

Portfolio of Investments – as of July 31, 2017 (Unaudited)

Natixis Sustainable Future 2050 Fund – (continued)

Shares		Description	Value (†)
	Closed-End Investment Companies — 0.0%
	13	Altaba, Inc.(b) (Identified Cost $713)	$	759
		Total Investments — 94.9% (Identified Cost $1,907,128)(a)		2,079,337
		Other assets less liabilities — 5.1%		111,624
		Net Assets — 100.0%	$	2,190,961
	(†)	See Note 2 of Notes to Financial Statements.
	(a)	Federal Tax Information (Amounts exclude certain adjustments that will be made at the end of the Fund’s fiscal year for tax purposes. Such adjustments are primarily due to wash sales.):
		At July 31, 2017, the net unrealized appreciation on investments based on a cost of $1,907,128 for federal income tax purposes was as follows:
		Aggregate gross unrealized appreciation for all investments in which there is an excess of value over tax cost	$	190,832
		Aggregate gross unrealized depreciation for all investments in which there is an excess of tax cost over value		(18,623	)
		Net unrealized appreciation	$	172,209
	(b)	Non-income producing security.
	ADR	An American Depositary Receipt is a certificate issued by a custodian bank representing the right to receive securities of the foreign issuer described. The values of ADRs may be significantly influenced by trading on exchanges not located in the United States.
	REITs	Real Estate Investment Trusts

Industry Summary at July 31, 2017 (Unaudited)

Internet Software & Services	7.8	%
Insurance	6.8
Health Care Equipment & Supplies	6.1
Affiliated Mutual Funds	6.1
Chemicals	6.1
IT Services	5.6
Banks	4.9
Electrical Equipment	4.5
Pharmaceuticals	3.7
Software	3.6
Life Sciences Tools & Services	3.1
Industrial Conglomerates	2.8
Auto Components	2.8
Automobiles	2.4
Electric Utilities	2.3
Capital Markets	2.2
Building Products	2.2
Other Investments, less than 2% each	21.9
Total Investments	94.9
Other assets less liabilities	5.1
Net Assets	100.0	%

Asset Allocation Summary at July 31, 2017 (Unaudited)

Equity	88.8	%
Fixed-Income	6.1
Total Investments	94.9
Other assets less liabilities	5.1
Net Assets	100.0	%

See accompanying notes to financial statements.

67  |

Portfolio of Investments – as of July 31, 2017 (Unaudited)

Natixis Sustainable Future 2055 Fund

Shares		Description	Value (†)
	Common Stocks – 88.7% of Net Assets
		Aerospace & Defense — 0.0%
	44	Arconic, Inc.	$	1,091
		Air Freight & Logistics — 0.0%
	8	United Parcel Service, Inc., Class B		882
		Auto Components — 2.7%
	13	BorgWarner, Inc.		608
	410	Delphi Automotive PLC		37,072
	10	Goodyear Tire & Rubber Co. (The)		315
	627	Valeo S.A., Sponsored ADR		21,757
				59,752
		Automobiles — 2.4%
	1,084	Byd Co. Ltd., ADR		13,550
	193	Ford Motor Co.		2,165
	326	Toyota Motor Corp., Sponsored ADR		36,786
				52,501
		Banks — 4.9%
	373	Bank of America Corp.		8,997
	115	Citigroup, Inc.		7,872
	74	Citizens Financial Group, Inc.		2,596
	152	Huntington Bancshares, Inc.		2,014
	1,261	KBC Group NV, Sponsored ADR		52,079
	157	KeyCorp		2,832
	427	People’s United Financial, Inc.		7,447
	156	Signature Bank(b)		21,618
	55	Zions Bancorporation		2,493
				107,948
		Beverages — 0.7%
	50	Brown-Forman Corp., Class B		2,470
	124	Coca-Cola Co. (The)		5,684
	16	Molson Coors Brewing Co., Class B		1,424
	19	Monster Beverage Corp.(b)		1,002
	44	PepsiCo, Inc.		5,131
				15,711
		Biotechnology — 0.9%
	13	AbbVie, Inc.		909
	11	Amgen, Inc.		1,920
	212	Gilead Sciences, Inc.		16,131
				18,960
		Building Products — 2.2%
	692	A.O. Smith Corp.		37,057
	47	Fortune Brands Home & Security, Inc.		3,086
	208	Johnson Controls International PLC		8,102
				48,245
		Capital Markets — 2.2%
	7	Affiliated Managers Group, Inc.		1,301
	10	Ameriprise Financial, Inc.		1,449
	106	Bank of New York Mellon Corp. (The)		5,621
	10	BlackRock, Inc.		4,265
	25	Charles Schwab Corp. (The)		1,072
	22	CME Group, Inc.		2,698
	84	Franklin Resources, Inc.		3,762
	30	Goldman Sachs Group, Inc. (The)		6,760
	17	Intercontinental Exchange, Inc.		1,134
	39	Invesco Ltd.		1,356
	11	Legg Mason, Inc.		440
	7	Moody’s Corp.		921
	18	Nasdaq, Inc.		1,339
	50	Northern Trust Corp.		4,375
	6	S&P Global, Inc.		922

See accompanying notes to financial statements.

|  68

Portfolio of Investments – as of July 31, 2017 (Unaudited)

Natixis Sustainable Future 2055 Fund – (continued)

Shares		Description	Value (†)
		Capital Markets — continued
	45	State Street Corp.	$	4,195
	79	T. Rowe Price Group, Inc.		6,535
				48,145
		Chemicals — 6.1%
	14	Air Products & Chemicals, Inc.		1,990
	469	Chr. Hansen Holding AS, Sponsored ADR		19,079
	49	Dow Chemical Co. (The)		3,148
	43	E.I. du Pont de Nemours & Co.		3,535
	303	Ecolab, Inc.		39,896
	104	International Flavors & Fragrances, Inc.		13,851
	247	Novozymes AS, Sponsored ADR		11,406
	46	Praxair, Inc.		5,987
	1,977	Symrise AG, Sponsored ADR		34,479
				133,371
		Commercial Services & Supplies — 0.1%
	31	Pitney Bowes, Inc.		488
	10	Stericycle, Inc.(b)		771
				1,259
		Communications Equipment — 0.4%
	251	Cisco Systems, Inc.		7,894
	13	Motorola Solutions, Inc.		1,179
				9,073
		Construction & Engineering — 0.1%
	31	Fluor Corp.		1,346
		Consumer Finance — 0.2%
	39	American Express Co.		3,324
	33	Navient Corp.		487
	38	Synchrony Financial		1,152
				4,963
		Containers & Packaging — 0.3%
	12	Avery Dennison Corp.		1,115
	78	Ball Corp.		3,269
	42	International Paper Co.		2,309
				6,693
		Distributors — 0.0%
	9	Genuine Parts Co.		764
		Diversified Consumer Services — 0.0%
	15	H&R Block, Inc.		457
		Diversified Telecommunication Services — 1.9%
	343	AT&T, Inc.		13,377
	1,146	Deutsche Telekom AG, Sponsored ADR		20,914
	147	Verizon Communications, Inc.		7,115
				41,406
		Electric Utilities — 2.3%
	20	Eversource Energy		1,216
	332	NextEra Energy, Inc.		48,502
				49,718
		Electrical Equipment — 4.5%
	177	Acuity Brands, Inc.		35,869
	470	Eaton Corp. PLC		36,778
	802	Vestas Wind Systems AS, Sponsored ADR		26,061
				98,708
		Electronic Equipment, Instruments & Components — 0.1%
	14	TE Connectivity Ltd.		1,125
		Food & Staples Retailing — 0.4%
	49	CVS Health Corp.		3,917
	76	Sysco Corp.		3,999
				7,916

See accompanying notes to financial statements.

69  |

Portfolio of Investments – as of July 31, 2017 (Unaudited)

Natixis Sustainable Future 2055 Fund – (continued)

Shares		Description	Value (†)
		Food Products — 0.8%
	54	Archer-Daniels-Midland Co.	$	2,278
	13	Campbell Soup Co.		687
	54	Conagra Brands, Inc.		1,849
	25	General Mills, Inc.		1,391
	3	Hershey Co. (The)		316
	5	Hormel Foods Corp.		171
	12	J.M. Smucker Co. (The)		1,463
	33	Kellogg Co.		2,244
	27	Kraft Heinz Co. (The)		2,361
	104	Mondelez International, Inc., Class A		4,578
	5	Tyson Foods, Inc., Class A		317
				17,655
		Health Care Equipment & Supplies — 6.1%
	66	Abbott Laboratories		3,246
	48	Baxter International, Inc.		2,903
	1,397	Coloplast AS, Sponsored ADR		11,930
	7	Cooper Cos., Inc. (The)		1,707
	579	Danaher Corp.		47,183
	733	Essilor International S.A., Sponsored ADR		46,476
	246	Medtronic PLC		20,657
				134,102
		Health Care Providers & Services — 1.0%
	6	Aetna, Inc.		926
	4	AmerisourceBergen Corp.		375
	20	Anthem, Inc.		3,724
	4	Cardinal Health, Inc.		309
	1	Centene Corp.(b)		79
	15	Cigna Corp.		2,603
	25	DaVita, Inc.(b)		1,620
	5	Envision Healthcare Corp.(b)		282
	37	Express Scripts Holding Co.(b)		2,318
	22	HCA Healthcare, Inc.(b)		1,767
	4	Humana, Inc.		925
	2	Laboratory Corp. of America Holdings(b)		318
	12	McKesson Corp.		1,942
	10	Quest Diagnostics, Inc.		1,083
	13	UnitedHealth Group, Inc.		2,494
	2	Universal Health Services, Inc., Class B		222
				20,987
		Home Construction — 0.7%
	300	Geberit AG, ADR		14,328
		Hotels, Restaurants & Leisure — 0.5%
	9	Carnival Corp.		601
	49	McDonald’s Corp.		7,602
	19	Starbucks Corp.		1,025
	10	Wyndham Worldwide Corp.		1,044
				10,272
		Household Durables — 1.3%
	8	Lennar Corp., Class A		420
	1,636	Sekisui House Ltd., Sponsored ADR		28,630
				29,050
		Household Products — 0.6%
	7	Church & Dwight Co., Inc.		374
	11	Clorox Co. (The)		1,468
	47	Colgate-Palmolive Co.		3,393
	99	Procter & Gamble Co. (The)		8,991
				14,226
		Independent Power & Renewable Electricity Producers — 0.3%
	86	Ormat Technologies, Inc.		5,100
	74	Pattern Energy Group, Inc.		1,857
				6,957

See accompanying notes to financial statements.

|  70

Portfolio of Investments – as of July 31, 2017 (Unaudited)

Natixis Sustainable Future 2055 Fund – (continued)

Shares		Description	Value (†)
		Industrial Conglomerates — 2.8%
	59	3M Co.	$	11,869
	224	General Electric Co.		5,737
	190	Roper Technologies, Inc.		44,167
				61,773
		Insurance — 6.8%
	23	Aflac, Inc.		1,834
	1,495	AIA Group Ltd., Sponsored ADR		47,242
	767	Allianz SE, Sponsored ADR		16,376
	4	Allstate Corp. (The)		364
	63	Hartford Financial Services Group, Inc. (The)		3,465
	1,382	Legal & General Group PLC, Sponsored ADR		24,876
	95	MetLife, Inc.		5,225
	48	Prudential Financial, Inc.		5,435
	732	Prudential PLC, Sponsored ADR		35,846
	70	Torchmark Corp.		5,528
	55	Unum Group		2,757
				148,948
		Internet & Direct Marketing Retail — 1.9%
	38	Amazon.com, Inc.(b)		37,536
	7	Netflix, Inc.(b)		1,272
	1	Priceline Group, Inc. (The)(b)		2,028
	7	TripAdvisor, Inc.(b)		273
				41,109
		Internet Software & Services — 7.8%
	81	Alphabet, Inc., Class A(b)		76,585
	2	Alphabet, Inc., Class C(b)		1,861
	7	Cars.com, Inc.(b)		170
	20	eBay, Inc.(b)		715
	312	Facebook, Inc., Class A(b)		52,806
	954	Tencent Holdings Ltd., ADR		38,122
				170,259
		IT Services — 5.7%
	6	Accenture PLC, Class A		773
	29	Cognizant Technology Solutions Corp., Class A		2,010
	17	CSRA, Inc.		554
	37	International Business Machines Corp.		5,353
	298	MasterCard, Inc., Class A		38,085
	20	PayPal Holdings, Inc.(b)		1,171
	756	Visa, Inc., Class A		75,267
	50	Western Union Co. (The)		988
				124,201
		Leisure Products — 0.0%
	8	Hasbro, Inc.		847
		Life Sciences Tools & Services — 3.1%
	20	Agilent Technologies, Inc.		1,196
	38	Illumina, Inc.(b)		6,606
	345	Thermo Fisher Scientific, Inc.		60,558
				68,360
		Machinery — 1.1%
	47	Caterpillar, Inc.		5,356
	46	Deere & Co.		5,901
	23	Flowserve Corp.		946
	15	Parker Hannifin Corp.		2,490
	106	Watts Water Technologies, Inc., Series A		6,826
	43	Xylem, Inc.		2,439
				23,958
		Media — 0.6%
	12	CBS Corp., Class B		790
	14	Interpublic Group of Cos., Inc. (The)		303
	52	News Corp., Class A		744

See accompanying notes to financial statements.

71  |

Portfolio of Investments – as of July 31, 2017 (Unaudited)

Natixis Sustainable Future 2055 Fund – (continued)

Shares		Description	Value (†)
		Media — continued
	4	Omnicom Group, Inc.	$	315
	23	TEGNA, Inc.		341
	79	Twenty-First Century Fox, Inc., Class A		2,299
	33	Twenty-First Century Fox, Inc., Class B		947
	69	Walt Disney Co. (The)		7,585
				13,324
		Metals & Mining — 0.0%
	13	Newmont Mining Corp.		483
		Multiline Retail — 0.0%
	14	Kohl’s Corp.		579
	7	Target Corp.		397
				976
		Personal Products — 1.5%
	10	Estee Lauder Cos., Inc. (The), Class A		990
	533	Unilever NV		31,004
				31,994
		Pharmaceuticals — 3.7%
	19	Allergan PLC		4,794
	62	Bristol-Myers Squibb Co.		3,528
	36	Eli Lilly & Co.		2,976
	69	Johnson & Johnson		9,158
	90	Merck & Co., Inc.		5,749
	49	Mylan NV(b)		1,911
	1,051	Novo Nordisk AS, Sponsored ADR		44,562
	227	Pfizer, Inc.		7,527
	19	Zoetis, Inc.		1,188
				81,393
		Professional Services — 0.1%
	14	Verisk Analytics, Inc.(b)		1,222
		Real Estate Management & Development — 0.1%
	55	CBRE Group, Inc., Class A(b)		2,089
		REITs – Apartments — 0.3%
	6	AvalonBay Communities, Inc.		1,154
	38	Equity Residential		2,586
	7	Essex Property Trust, Inc.		1,832
	4	Mid-America Apartment Communities, Inc.		414
				5,986
		REITs – Diversified — 0.6%
	76	Crown Castle International Corp.		7,644
	7	Digital Realty Trust, Inc.		807
	18	Vornado Realty Trust		1,428
	86	Weyerhaeuser Co.		2,840
				12,719
		REITs – Health Care — 0.1%
	37	HCP, Inc.		1,171
	30	Ventas, Inc.		2,021
				3,192
		REITs – Office Property — 0.1%
	15	Boston Properties, Inc.		1,814
	9	JBG SMITH Properties(b)		319
				2,133
		REITs – Regional Malls — 0.1%
	5	Macerich Co. (The)		287
	11	Simon Property Group, Inc.		1,743
				2,030
		REITs – Specialty & Other — 0.1%
	3	Equinix, Inc.		1,352
	26	Iron Mountain, Inc.		947
				2,299

See accompanying notes to financial statements.

|  72

Portfolio of Investments – as of July 31, 2017 (Unaudited)

Natixis Sustainable Future 2055 Fund – (continued)

Shares		Description	Value (†)
		REITs – Storage — 0.1%
	12	Public Storage	$	2,467
		Road & Rail — 0.6%
	40	CSX Corp.		1,974
	24	Kansas City Southern		2,477
	37	Norfolk Southern Corp.		4,165
	48	Union Pacific Corp.		4,942
				13,558
		Semiconductors & Semiconductor Equipment — 1.2%
	13	Advanced Micro Devices, Inc.(b)		177
	96	ASML Holding NV, (Registered)		14,432
	27	First Solar, Inc.(b)		1,331
	182	Intel Corp.		6,455
	39	Micron Technology, Inc.(b)		1,097
	8	NVIDIA Corp.		1,300
	21	QUALCOMM, Inc.		1,117
	13	Texas Instruments, Inc.		1,058
				26,967
		Software — 3.6%
	8	Autodesk, Inc.(b)		886
	152	Ellie Mae, Inc.(b)		13,257
	807	Microsoft Corp.		58,669
	107	Oracle Corp.		5,343
	9	Symantec Corp.		279
				78,434
		Specialty Retail — 0.2%
	8	Best Buy Co., Inc.		467
	19	Home Depot, Inc. (The)		2,842
	14	Lowe’s Cos., Inc.		1,084
	38	Staples, Inc.		386
	7	Tiffany & Co.		668
				5,447
		Technology Hardware, Storage & Peripherals — 0.5%
	38	Apple, Inc.		5,652
	25	NetApp, Inc.		1,085
	7	Seagate Technology PLC		231
	23	Western Digital Corp.		1,958
	33	Xerox Corp.		1,004
				9,930
		Textiles, Apparel & Luxury Goods — 1.1%
	2,408	Cie Financiere Richemont S.A., Sponsored ADR		20,396
	15	Hanesbrands, Inc.		344
	49	NIKE, Inc., Class B		2,893
	6	PVH Corp.		716
	7	VF Corp.		435
				24,784
		Trading Companies & Distributors — 0.2%
	39	Fastenal Co.		1,676
	11	W.W. Grainger, Inc.		1,834
				3,510
		Water Utilities — 1.0%
	257	American Water Works Co., Inc.		20,843
		Total Common Stocks (Identified Cost $1,771,173)		1,942,846
	Affiliated Mutual Funds — 6.1%
	4,281	Loomis Sayles Inflation Protected Securities Fund, Class N		44,518
	1,950	Loomis Sayles Limited Term Government and Agency Fund, Class N		22,190
	6,607	Mirova Global Green Bond Fund, Class N(b)		66,730
		Total Affiliated Mutual Funds (Identified Cost $133,211)		133,438

See accompanying notes to financial statements.

73  |

Portfolio of Investments – as of July 31, 2017 (Unaudited)

Natixis Sustainable Future 2055 Fund – (continued)

Shares		Description	Value (†)
	Closed-End Investment Companies — 0.0%
	13	Altaba, Inc.(b) (Identified Cost $713)	$	759
		Total Investments — 94.8% (Identified Cost $1,905,097)(a)		2,077,043
		Other assets less liabilities — 5.2%		113,792
		Net Assets — 100.0%	$	2,190,835
	(†)	See Note 2 of Notes to Financial Statements.
	(a)	Federal Tax Information (Amounts exclude certain adjustments that will be made at the end of the Fund’s fiscal year for tax purposes. Such adjustments are primarily due to wash sales.):
		At July 31, 2017, the net unrealized appreciation on investments based on a cost of $1,905,097 for federal income tax purposes was as follows:
		Aggregate gross unrealized appreciation for all investments in which there is an excess of value over tax cost	$	190,479
		Aggregate gross unrealized depreciation for all investments in which there is an excess of tax cost over value		(18,533	)
		Net unrealized appreciation	$	171,946
	(b)	Non-income producing security.
	ADR	An American Depositary Receipt is a certificate issued by a custodian bank representing the right to receive securities of the foreign issuer described. The values of ADRs may be significantly influenced by trading on exchanges not located in the United States.
	REITs	Real Estate Investment Trusts

Industry Summary at July 31, 2017 (Unaudited)

Internet Software & Services	7.8	%
Insurance	6.8
Health Care Equipment & Supplies	6.1
Affiliated Mutual Funds	6.1
Chemicals	6.1
IT Services	5.7
Banks	4.9
Electrical Equipment	4.5
Pharmaceuticals	3.7
Software	3.6
Life Sciences Tools & Services	3.1
Industrial Conglomerates	2.8
Auto Components	2.7
Automobiles	2.4
Electric Utilities	2.3
Building Products	2.2
Capital Markets	2.2
Other Investments, less than 2% each	21.8
Total Investments	94.8
Other assets less liabilities	5.2
Net Assets	100.0	%

Asset Allocation Summary at July 31, 2017 (Unaudited)

Equity	88.7	%
Fixed-Income	6.1
Total Investments	94.8
Other assets less liabilities	5.2
Net Assets	100.0	%

See accompanying notes to financial statements.

|  74

Portfolio of Investments – as of July 31, 2017 (Unaudited)

Natixis Sustainable Future 2060 Fund

Shares		Description	Value (†)
	Common Stocks — 88.9% of Net Assets
		Aerospace & Defense — 0.0%
	44	Arconic, Inc.	$	1,091
		Air Freight & Logistics — 0.0%
	8	United Parcel Service, Inc., Class B		882
		Auto Components — 2.8%
	13	BorgWarner, Inc.		608
	409	Delphi Automotive PLC		36,982
	10	Goodyear Tire & Rubber Co. (The)		315
	672	Valeo S.A., Sponsored ADR		23,318
				61,223
		Automobiles — 2.4%
	1,084	Byd Co. Ltd., ADR		13,550
	193	Ford Motor Co.		2,165
	325	Toyota Motor Corp., Sponsored ADR		36,673
				52,388
		Banks — 4.9%
	378	Bank of America Corp.		9,117
	116	Citigroup, Inc.		7,940
	74	Citizens Financial Group, Inc.		2,596
	153	Huntington Bancshares, Inc.		2,027
	1,256	KBC Group NV, Sponsored ADR		51,873
	158	KeyCorp		2,850
	431	People’s United Financial, Inc.		7,517
	156	Signature Bank(b)		21,619
	55	Zions Bancorporation		2,493
				108,032
		Beverages — 0.8%
	51	Brown-Forman Corp., Class B		2,519
	126	Coca-Cola Co. (The)		5,776
	4	Dr Pepper Snapple Group, Inc.		365
	16	Molson Coors Brewing Co., Class B		1,424
	23	Monster Beverage Corp.(b)		1,213
	44	PepsiCo, Inc.		5,131
				16,428
		Biotechnology — 0.9%
	13	AbbVie, Inc.		909
	11	Amgen, Inc.		1,920
	212	Gilead Sciences, Inc.		16,131
				18,960
		Building Products — 2.2%
	689	A.O. Smith Corp.		36,896
	47	Fortune Brands Home & Security, Inc.		3,087
	211	Johnson Controls International PLC		8,218
				48,201
		Capital Markets — 2.2%
	7	Affiliated Managers Group, Inc.		1,301
	10	Ameriprise Financial, Inc.		1,449
	107	Bank of New York Mellon Corp. (The)		5,674
	11	BlackRock, Inc.		4,692
	25	Charles Schwab Corp. (The)		1,072
	22	CME Group, Inc.		2,698
	85	Franklin Resources, Inc.		3,806
	30	Goldman Sachs Group, Inc. (The)		6,760
	17	Intercontinental Exchange, Inc.		1,134
	34	Invesco Ltd.		1,182
	11	Legg Mason, Inc.		440
	7	Moody’s Corp.		921
	18	Nasdaq, Inc.		1,339
	54	Northern Trust Corp.		4,725
	6	S&P Global, Inc.		922

See accompanying notes to financial statements.

75  |

Portfolio of Investments – as of July 31, 2017 (Unaudited)

Natixis Sustainable Future 2060 Fund – (continued)

Shares		Description	Value (†)
		Capital Markets — continued
	45	State Street Corp.	$	4,195
	80	T. Rowe Price Group, Inc.		6,618
				48,928
		Chemicals — 6.1%
	14	Air Products & Chemicals, Inc.		1,990
	469	Chr. Hansen Holding AS, Sponsored ADR		19,079
	50	Dow Chemical Co. (The)		3,212
	43	E.I. du Pont de Nemours & Co.		3,535
	299	Ecolab, Inc.		39,369
	104	International Flavors & Fragrances, Inc.		13,851
	247	Novozymes AS, Sponsored ADR		11,407
	46	Praxair, Inc.		5,987
	1,968	Symrise AG, Sponsored ADR		34,322
				132,752
		Commercial Services & Supplies — 0.1%
	31	Pitney Bowes, Inc.		488
	10	Stericycle, Inc.(b)		771
				1,259
		Communications Equipment — 0.4%
	253	Cisco Systems, Inc.		7,957
	13	Motorola Solutions, Inc.		1,179
				9,136
		Construction & Engineering — 0.1%
	31	Fluor Corp.		1,346
		Consumer Finance — 0.2%
	39	American Express Co.		3,324
	33	Navient Corp.		487
	38	Synchrony Financial		1,152
				4,963
		Containers & Packaging — 0.3%
	12	Avery Dennison Corp.		1,115
	78	Ball Corp.		3,268
	43	International Paper Co.		2,364
				6,747
		Distributors — 0.0%
	9	Genuine Parts Co.		764
		Diversified Consumer Services — 0.0%
	15	H&R Block, Inc.		457
		Diversified Telecommunication Services — 1.9%
	347	AT&T, Inc.		13,533
	1,146	Deutsche Telekom AG, Sponsored ADR		20,915
	148	Verizon Communications, Inc.		7,163
				41,611
		Electric Utilities — 2.3%
	20	Eversource Energy		1,216
	330	NextEra Energy, Inc.		48,209
				49,425
		Electrical Equipment — 4.6%
	177	Acuity Brands, Inc.		35,869
	468	Eaton Corp. PLC		36,621
	850	Vestas Wind Systems AS, Sponsored ADR		27,621
				100,111
		Electronic Equipment, Instruments & Components — 0.1%
	14	TE Connectivity Ltd.		1,125
		Food & Staples Retailing — 0.4%
	50	CVS Health Corp.		3,997
	76	Sysco Corp.		3,999
				7,996

See accompanying notes to financial statements.

|  76

Portfolio of Investments – as of July 31, 2017 (Unaudited)

Natixis Sustainable Future 2060 Fund – (continued)

Shares		Description	Value (†)
		Food Products — 0.8%
	55	Archer-Daniels-Midland Co.	$	2,320
	13	Campbell Soup Co.		687
	54	Conagra Brands, Inc.		1,849
	25	General Mills, Inc.		1,391
	3	Hershey Co. (The)		316
	5	Hormel Foods Corp.		171
	12	J.M. Smucker Co. (The)		1,463
	33	Kellogg Co.		2,244
	27	Kraft Heinz Co. (The)		2,361
	105	Mondelez International, Inc., Class A		4,622
	5	Tyson Foods, Inc., Class A		317
				17,741
		Health Care Equipment & Supplies — 6.1%
	66	Abbott Laboratories		3,246
	48	Baxter International, Inc.		2,903
	1,397	Coloplast AS, Sponsored ADR		11,930
	9	Cooper Cos., Inc. (The)		2,195
	577	Danaher Corp.		47,020
	730	Essilor International S.A., Sponsored ADR		46,285
	244	Medtronic PLC		20,489
				134,068
		Health Care Providers & Services — 1.0%
	6	Aetna, Inc.		926
	4	AmerisourceBergen Corp.		375
	20	Anthem, Inc.		3,724
	4	Cardinal Health, Inc.		309
	1	Centene Corp.(b)		79
	15	Cigna Corp.		2,603
	25	DaVita, Inc.(b)		1,620
	2	Envision Healthcare Corp.(b)		113
	37	Express Scripts Holding Co.(b)		2,318
	22	HCA Healthcare, Inc.(b)		1,767
	4	Humana, Inc.		925
	2	Laboratory Corp. of America Holdings(b)		318
	12	McKesson Corp.		1,942
	10	Quest Diagnostics, Inc.		1,083
	13	UnitedHealth Group, Inc.		2,494
	2	Universal Health Services, Inc., Class B		222
				20,818
		Home Construction — 0.7%
	300	Geberit AG, ADR		14,328
		Hotels, Restaurants & Leisure — 0.5%
	9	Carnival Corp.		601
	49	McDonald’s Corp.		7,602
	23	Starbucks Corp.		1,241
	10	Wyndham Worldwide Corp.		1,044
				10,488
		Household Durables — 1.3%
	8	Lennar Corp., Class A		420
	1,629	Sekisui House Ltd., Sponsored ADR		28,507
				28,927
		Household Products — 0.7%
	7	Church & Dwight Co., Inc.		373
	11	Clorox Co. (The)		1,468
	48	Colgate-Palmolive Co.		3,466
	100	Procter & Gamble Co. (The)		9,082
				14,389
		Independent Power & Renewable Electricity Producers — 0.3%
	87	Ormat Technologies, Inc.		5,159
	74	Pattern Energy Group, Inc.		1,857
				7,016

See accompanying notes to financial statements.

77  |

Portfolio of Investments – as of July 31, 2017 (Unaudited)

Natixis Sustainable Future 2060 Fund – (continued)

Shares		Description	Value (†)
		Industrial Conglomerates — 2.8%
	59	3M Co.	$	11,869
	227	General Electric Co.		5,814
	190	Roper Technologies, Inc.		44,167
				61,850
		Insurance — 6.8%
	23	Aflac, Inc.		1,834
	1,488	AIA Group Ltd., Sponsored ADR		47,021
	767	Allianz SE, Sponsored ADR		16,376
	2	Allstate Corp. (The)		182
	63	Hartford Financial Services Group, Inc. (The)		3,465
	1,468	Legal & General Group PLC, Sponsored ADR		26,424
	95	MetLife, Inc.		5,225
	49	Prudential Financial, Inc.		5,548
	722	Prudential PLC, Sponsored ADR		35,356
	71	Torchmark Corp.		5,607
	55	Unum Group		2,757
				149,795
		Internet & Direct Marketing Retail — 1.9%
	38	Amazon.com, Inc.(b)		37,536
	7	Netflix, Inc.(b)		1,272
	1	Priceline Group, Inc. (The)(b)		2,028
	7	TripAdvisor, Inc.(b)		273
				41,109
		Internet Software & Services — 7.8%
	81	Alphabet, Inc., Class A(b)		76,585
	2	Alphabet, Inc., Class C(b)		1,861
	7	Cars.com, Inc.(b)		170
	20	eBay, Inc.(b)		715
	312	Facebook, Inc., Class A(b)		52,806
	950	Tencent Holdings Ltd., ADR		37,962
				170,099
		IT Services — 5.6%
	6	Accenture PLC, Class A		773
	29	Cognizant Technology Solutions Corp., Class A		2,010
	17	CSRA, Inc.		554
	37	International Business Machines Corp.		5,353
	294	MasterCard, Inc., Class A		37,573
	20	PayPal Holdings, Inc.(b)		1,171
	753	Visa, Inc., Class A		74,969
	50	Western Union Co. (The)		988
				123,391
		Leisure Products — 0.0%
	8	Hasbro, Inc.		847
		Life Sciences Tools & Services — 3.1%
	20	Agilent Technologies, Inc.		1,196
	38	Illumina, Inc.(b)		6,606
	343	Thermo Fisher Scientific, Inc.		60,207
				68,009
		Machinery — 1.1%
	48	Caterpillar, Inc.		5,470
	46	Deere & Co.		5,901
	23	Flowserve Corp.		946
	15	Parker Hannifin Corp.		2,490
	106	Watts Water Technologies, Inc., Series A		6,826
	43	Xylem, Inc.		2,439
				24,072
		Media — 0.6%
	12	CBS Corp., Class B		790
	14	Interpublic Group of Cos., Inc. (The)		303
	52	News Corp., Class A		744

See accompanying notes to financial statements.

|  78

Portfolio of Investments – as of July 31, 2017 (Unaudited)

Natixis Sustainable Future 2060 Fund – (continued)

Shares		Description	Value (†)
		Media — continued
	4	Omnicom Group, Inc.	$	315
	23	TEGNA, Inc.		341
	80	Twenty-First Century Fox, Inc., Class A		2,328
	33	Twenty-First Century Fox, Inc., Class B		947
	70	Walt Disney Co. (The)		7,695
				13,463
		Metals & Mining — 0.0%
	13	Newmont Mining Corp.		483
		Multiline Retail — 0.0%
	14	Kohl’s Corp.		579
	7	Target Corp.		397
				976
		Personal Products — 1.4%
	10	Estee Lauder Cos., Inc. (The), Class A		990
	526	Unilever NV		30,597
				31,587
		Pharmaceuticals — 3.7%
	19	Allergan PLC		4,794
	62	Bristol-Myers Squibb Co.		3,528
	36	Eli Lilly & Co.		2,976
	70	Johnson & Johnson		9,290
	91	Merck & Co., Inc.		5,813
	59	Mylan NV(b)		2,300
	1,047	Novo Nordisk AS, Sponsored ADR		44,393
	228	Pfizer, Inc.		7,561
	19	Zoetis, Inc.		1,188
				81,843
		Professional Services — 0.1%
	14	Verisk Analytics, Inc.(b)		1,222
		Real Estate Management & Development — 0.1%
	55	CBRE Group, Inc., Class A(b)		2,089
		REITs – Apartments — 0.3%
	6	AvalonBay Communities, Inc.		1,154
	38	Equity Residential		2,586
	7	Essex Property Trust, Inc.		1,832
	4	Mid-America Apartment Communities, Inc.		414
				5,986
		REITs – Diversified — 0.6%
	77	Crown Castle International Corp.		7,745
	7	Digital Realty Trust, Inc.		807
	18	Vornado Realty Trust		1,428
	86	Weyerhaeuser Co.		2,840
				12,820
		REITs – Health Care — 0.1%
	37	HCP, Inc.		1,171
	30	Ventas, Inc.		2,021
				3,192
		REITs – Office Property — 0.1%
	15	Boston Properties, Inc.		1,814
	9	JBG SMITH Properties(b)		319
				2,133
		REITs – Regional Malls — 0.1%
	2	Macerich Co. (The)		115
	11	Simon Property Group, Inc.		1,743
				1,858
		REITs – Specialty & Other — 0.1%
	3	Equinix, Inc.		1,352
	26	Iron Mountain, Inc.		947
				2,299

See accompanying notes to financial statements.

79  |

Portfolio of Investments – as of July 31, 2017 (Unaudited)

Natixis Sustainable Future 2060 Fund – (continued)

Shares		Description	Value (†)
		REITs – Storage — 0.1%
	12	Public Storage	$	2,467
		Road & Rail — 0.6%
	40	CSX Corp.		1,974
	24	Kansas City Southern		2,477
	37	Norfolk Southern Corp.		4,165
	48	Union Pacific Corp.		4,942
				13,558
		Semiconductors & Semiconductor Equipment — 1.2%
	13	Advanced Micro Devices, Inc.(b)		177
	96	ASML Holding NV, (Registered)		14,432
	27	First Solar, Inc.(b)		1,331
	183	Intel Corp.		6,491
	39	Micron Technology, Inc.(b)		1,097
	8	NVIDIA Corp.		1,300
	21	QUALCOMM, Inc.		1,117
	13	Texas Instruments, Inc.		1,058
				27,003
		Software — 3.6%
	8	Autodesk, Inc.(b)		886
	152	Ellie Mae, Inc.(b)		13,258
	805	Microsoft Corp.		58,524
	108	Oracle Corp.		5,392
	9	Symantec Corp.		279
				78,339
		Specialty Retail — 0.2%
	8	Best Buy Co., Inc.		467
	19	Home Depot, Inc. (The)		2,842
	14	Lowe’s Cos., Inc.		1,084
	38	Staples, Inc.		386
	7	Tiffany & Co.		668
				5,447
		Technology Hardware, Storage & Peripherals — 0.5%
	38	Apple, Inc.		5,652
	25	NetApp, Inc.		1,085
	7	Seagate Technology PLC		231
	23	Western Digital Corp.		1,958
	32	Xerox Corp.		981
				9,907
		Textiles, Apparel & Luxury Goods — 1.1%
	2,408	Cie Financiere Richemont S.A., Sponsored ADR		20,396
	15	Hanesbrands, Inc.		344
	49	NIKE, Inc., Class B		2,893
	6	PVH Corp.		716
	7	VF Corp.		435
				24,784
		Trading Companies & Distributors — 0.2%
	39	Fastenal Co.		1,676
	11	W.W. Grainger, Inc.		1,834
				3,510
		Water Utilities — 1.0%
	258	American Water Works Co., Inc.		20,924
		Total Common Stocks (Identified Cost $1,774,684)		1,946,662
	Affiliated Mutual Funds — 6.1%
	4,279	Loomis Sayles Inflation Protected Securities Fund, Class N		44,500
	1,949	Loomis Sayles Limited Term Government and Agency Fund, Class N		22,181
	6,604	Mirova Global Green Bond Fund, Class N(b)		66,703
		Total Affiliated Mutual Funds (Identified Cost $133,161)		133,384

See accompanying notes to financial statements.

|  80

Portfolio of Investments – as of July 31, 2017 (Unaudited)

Natixis Sustainable Future 2060 Fund – (continued)

Shares		Description	Value (†)
	Closed-End Investment Companies — 0.0%
	13	Altaba, Inc.(b) (Identified Cost $713)	$	759
		Total Investments — 95.0% (Identified Cost $1,908,558)(a)		2,080,805
		Other assets less liabilities — 5.0%		110,169
		Net Assets — 100.0%	$	2,190,974
	(†)	See Note 2 of Notes to Financial Statements.
	(a)	Federal Tax Information (Amounts exclude certain adjustments that will be made at the end of the Fund’s fiscal year for tax purposes. Such adjustments are primarily due to wash sales.):
		At July 31, 2017, the net unrealized appreciation on investments based on a cost of $1,908,558 for federal income tax purposes was as follows:
		Aggregate gross unrealized appreciation for all investments in which there is an excess of value over tax cost	$	190,870
		Aggregate gross unrealized depreciation for all investments in which there is an excess of tax cost over value		(18,623	)
		Net unrealized appreciation	$	172,247
	(b)	Non-income producing security.
	ADR	An American Depositary Receipt is a certificate issued by a custodian bank representing the right to receive securities of the foreign issuer described. The values of ADRs may be significantly influenced by trading on exchanges not located in the United States.
	REITs	Real Estate Investment Trusts

Industry Summary at July 31, 2017 (Unaudited)

Internet Software & Services		7.8	%
Insurance		6.8
Health Care Equipment & Supplies		6.1
Affiliated Mutual Funds		6.1
Chemicals		6.1
IT Services	��	5.6
Banks		4.9
Electrical Equipment		4.6
Pharmaceuticals		3.7
Software		3.6
Life Sciences Tools & Services		3.1
Industrial Conglomerates		2.8
Auto Components		2.8
Automobiles		2.4
Electric Utilities		2.3
Capital Markets		2.2
Building Products		2.2
Other Investments, less than 2% each		21.9
Total Investments		95.0
Other assets less liabilities		5.0
Net Assets		100.0	%

Asset Allocation Summary at July 31, 2017 (Unaudited)

Equity	88.9	%
Fixed-Income	6.1
Total Investments	95.0
Other assets less liabilities	5.0
Net Assets	100.0	%

See accompanying notes to financial statements.

81  |

This Page Intentionally Left Blank

|  82

Statements of Assets and Liabilities

July 31, 2017 (Unaudited)

	Natixis Sustainable Future 2015 Fund		Natixis Sustainable Future 2020 Fund		Natixis Sustainable Future 2025 Fund		Natixis Sustainable Future 2030 Fund
ASSETS
Unaffiliated investments at cost	$	1,844,269	$	2,127,276	$	1,781,041	$	1,708,569
Affiliated investments at cost		2,062,365		1,776,695		1,120,037		702,051
Net unrealized appreciation on unaffiliated investments		173,256		205,885		173,930		166,367
Net unrealized appreciation on affiliated investments		7,591		7,473		4,733		2,523
Investments at value		4,087,481		4,117,329		3,079,741		2,579,510
Cash		162,049		161,059		155,323		145,205
Receivable from investment adviser (Note 5)		—		—		1,119		—
Receivable for securities sold		13,331		16,407		14,356		13,331
Dividends receivable		1,248		1,416		1,100		1,123
Dividends receivable from affiliates		877		809		500		281
Tax reclaims receivable		549		706		525		500
Prepaid expenses (Note 6)		10		10		8		9
TOTAL ASSETS		4,265,545		4,297,736		3,252,672		2,739,959
LIABILITIES
Payable for securities purchased		15,220		17,917		16,399		15,143
Management fees payable (Note 5)		1,266		1,348		—		653
Deferred Trustees’ fees (Note 5)		1,788		1,788		1,785		1,783
Administrative fees payable (Note 5)		154		160		120		98
Other accounts payable and accrued expenses		32,052		31,877		32,898		32,905
TOTAL LIABILITIES		50,480		53,090		51,202		50,582
NET ASSETS	$	4,215,065	$	4,244,646	$	3,201,470	$	2,689,377
NET ASSETS CONSIST OF:
Paid-in capital	$	4,000,000	$	4,000,000	$	3,000,000	$	2,500,000
Undistributed net investment income		18,368		18,406		13,904		12,294
Accumulated net realized gain on investments		15,850		12,882		8,903		8,193
Net unrealized appreciation on investments		180,847		213,358		178,663		168,890
NET ASSETS	$	4,215,065	$	4,244,646	$	3,201,470	$	2,689,377
COMPUTATION OF NET ASSET VALUE AND OFFERING PRICE:
Class N shares:
Net assets	$	4,215,065	$	4,244,646	$	3,201,470	$	2,689,377
Shares of beneficial interest		400,000		400,000		300,000		250,000
Net asset value, offering and redemption price per share	$	10.54	$	10.61	$	10.67	$	10.76

See accompanying notes to financial statements.

83  |

Statements of Assets and Liabilities (continued)

July 31, 2017 (Unaudited)

Natixis Sustainable Future 2035 Fund		Natixis Sustainable Future 2040 Fund		Natixis Sustainable Future 2045 Fund		Natixis Sustainable Future 2050 Fund		Natixis Sustainable Future 2055 Fund		Natixis Sustainable Future 2060 Fund
	$1,909,202	$	2,066,964	$	1,735,122	$	1,773,962	$	1,771,886	$	1,775,397
	489,969		328,787		176,836		133,166		133,211		133,161
	186,925		201,480		166,696		171,987		171,719		172,024
	1,519		556		406		222		227		223
	2,587,615		2,597,787		2,079,060		2,079,337		2,077,043		2,080,805
	156,378		161,094		142,410		146,243		150,232		144,760
	—		—		—		—		—		—
	15,381		15,381		14,356		14,356		14,356		14,356
	1,233		1,306		1,025		1,036		1,027		1,036
	189		95		77		38		38		38
	563		665		550		509		509		509
	7		7		5		5		7		5
	2,761,366		2,776,335		2,237,483		2,241,524		2,243,212		2,241,509
	15,914		17,030		16,320		14,900		16,801		14,900
	945		1,142		476		554		554		555
	1,783		1,784		1,782		1,782		1,782		1,782
	102		102		82		82		82		82
	32,594		32,576		33,154		33,245		33,158		33,216
	51,338		52,634		51,814		50,563		52,377		50,535
$	2,710,028	$	2,723,701	$	2,185,669	$	2,190,961	$	2,190,835	$	2,190,974
$	2,500,000	$	2,500,000	$	2,000,000	$	2,000,000	$	2,000,000	$	2,000,000
	12,769		13,219		10,406		10,409		10,388		10,408
	8,815		8,446		8,161		8,343		8,501		8,319
	188,444		202,036		167,102		172,209		171,946		172,247
$	2,710,028	$	2,723,701	$	2,185,669	$	2,190,961	$	2,190,835	$	2,190,974
$	2,710,028	$	2,723,701	$	2,185,669	$	2,190,961	$	2,190,835	$	2,190,974
	250,000		250,000		200,000		200,000		200,000		200,000
$	10.84	$	10.89	$	10.93	$	10.95	$	10.95	$	10.95

See accompanying notes to financial statements.

|  84

Statements of Operations

For the Period Ended July 31, 2017 (Unaudited)

	Natixis Sustainable Future 2015 Fund(a)			Natixis Sustainable Future 2020 Fund(a)			Natixis Sustainable Future 2025 Fund(a)			Natixis Sustainable Future 2030 Fund(a)
INVESTMENT INCOME
Dividends from unaffiliated investments	$	17,446		$	19,864		$	16,534		$	15,839
Dividends from affiliated investments		8,475			6,673			4,146			2,841
Less net foreign taxes withheld		(1,013	)		(1,049	)		(929	)		(885	)
		24,908			25,488			19,751			17,795
Expenses
Management fees (Note 5)		19,080			19,675			15,177			13,093
Administrative fees (Note 5)		763			771			580			482
Trustees’ fees and expenses (Note 5)		7,866			7,866			7,852			7,845
Transfer agent fees and expenses (Note 5)		56			56			56			56
Audit and tax services fees		18,408			18,408			18,408			18,408
Custodian fees and expenses		6,142			6,090			6,773			6,628
Legal fees		50			50			38			31
Registration fees		5,140			5,140			5,140			5,140
Shareholder reporting expenses		2,875			2,844			2,848			2,872
Miscellaneous expenses (Note 6)		3,581			3,580			3,576			3,572
Total expenses		63,961			64,480			60,448			58,127
Less waiver and/or expense reimbursement (Note 5)		(57,421	)		(57,398	)		(54,601	)		(52,626	)
Net expenses		6,540			7,082			5,847			5,501
Net investment income		18,368			18,406			13,904			12,294
NET REALIZED AND UNREALIZED GAIN ON INVESTMENTS
Net realized gain (loss) on:
Unaffiliated investments		15,848			12,879			8,903			8,193
Affiliated investments		2			3			—			—
Net change in unrealized appreciation (depreciation) on:
Unaffiliated investments		173,256			205,885			173,930			166,367
Affiliated investments		7,591			7,473			4,733			2,523
Net realized and unrealized gain on investments		196,697			226,240			187,566			177,083
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS	$	215,065		$	244,646		$	201,470		$	189,377

(a) From commencement of operations on February 28, 2017 through July 31, 2017.

See accompanying notes to financial statements.

85  |

Statements of Operations (continued)

For the Period Ended July 31, 2017 (Unaudited)

Natixis Sustainable Future 2035 Fund(a)			Natixis Sustainable Future 2040 Fund(a)			Natixis Sustainable Future 2045 Fund(a)			Natixis Sustainable Future 2050 Fund(a)			Natixis Sustainable Future 2055 Fund(a)			Natixis Sustainable Future 2060 Fund(a)
	$17,662		$	18,978		$	15,726		$	16,081		$	16,058		$	16,080
	2,111			1,692			851			681			682			681
	(996	)		(989	)		(818	)		(904	)		(904	)		(904	)
	18,777			19,681			15,759			15,858			15,836			15,857
	13,507			13,799			11,205			11,308			11,305			11,308
	487			489			392			392			392			392
	7,845			7,845			7,838			7,838			7,838			7,838
	56			56			56			56			56			56
	18,408			18,408			18,408			18,408			18,408			18,408
	6,354			6,284			6,716			6,715			6,718			6,711
	31			31			25			25			25			25
	5,140			5,140			5,139			5,140			5,140			5,140
	2,925			2,896			2,911			3,007			2,916			2,981
	3,576			3,574			3,573			3,573			3,571			3,572
	58,329			58,522			56,263			56,462			56,369			56,431
	(52,321	)		(52,060	)		(50,910	)		(51,013	)		(50,921	)		(50,982	)
	6,008			6,462			5,353			5,449			5,448			5,449
	12,769			13,219			10,406			10,409			10,388			10,408
	8,815			8,446			8,162			8,343			8,501			8,319
	—			—			(1	)		—			—			—
	186,925			201,480			166,696			171,987			171,719			172,024
	1,519			556			406			222			227			223
	197,259			210,482			175,263			180,552			180,447			180,566
$	210,028		$	223,701		$	185,669		$	190,961		$	190,835		$	190,974

See accompanying notes to financial statements.

|  86

Statements of Changes in Net Assets

	Natixis Sustainable Future 2015 Fund		Natixis Sustainable Future 2020 Fund		Natixis Sustainable Future 2025 Fund		Natixis Sustainable Future 2030 Fund
	Period Ended July 31, 2017 (Unaudited)(a)		Period Ended July 31, 2017 (Unaudited)(a)		Period Ended July 31, 2017 (Unaudited)(a)		Period Ended July 31, 2017 (Unaudited)(a)
FROM OPERATIONS:
Net investment income	$	18,368	$	18,406	$	13,904	$	12,294
Net realized gain on investments		15,850		12,882		8,903		8,193
Net change in unrealized appreciation (depreciation) on investments		180,847		213,358		178,663		168,890
Net increase in net assets resulting from operations		215,065		244,646		201,470		189,377
NET INCREASE IN NET ASSETS FROM CAPITAL SHARE TRANSACTIONS (NOTE 7)		4,000,000		4,000,000		3,000,000		2,500,000
Net increase in net assets		4,215,065		4,244,646		3,201,470		2,689,377
NET ASSETS
Beginning of the period		—		—		—		—
End of the period	$	4,215,065	$	4,244,646	$	3,201,470	$	2,689,377
UNDISTRIBUTED NET INVESTMENT INCOME	$	18,368	$	18,406	$	13,904	$	12,294

(a) From commencement of operations on February 28, 2017 through July 31, 2017.

See accompanying notes to financial statements.

87  |

Statements of Changes in Net Assets (continued)

Natixis Sustainable Future 2035 Fund		Natixis Sustainable Future 2040 Fund		Natixis Sustainable Future 2045 Fund		Natixis Sustainable Future 2050 Fund		Natixis Sustainable Future 2055 Fund		Natixis Sustainable Future 2060 Fund
Period Ended July 31, 2017 (Unaudited)(a)		Period Ended July 31, 2017 (Unaudited)(a)		Period Ended July 31, 2017 (Unaudited)(a)		Period Ended July 31, 2017 (Unaudited)(a)		Period Ended July 31, 2017 (Unaudited)(a)		Period Ended July 31, 2017 (Unaudited)(a)
$	12,769	$	13,219	$	10,406	$	10,409	$	10,388	$	10,408
	8,815		8,446		8,161		8,343		8,501		8,319
	188,444		202,036		167,102		172,209		171,946		172,247
	210,028		223,701		185,669		190,961		190,835		190,974
	2,500,000		2,500,000		2,000,000		2,000,000		2,000,000		2,000,000
	2,710,028		2,723,701		2,185,669		2,190,961		2,190,835		2,190,974
	—		—		—		—		—		—
$	2,710,028	$	2,723,701	$	2,185,669	$	2,190,961	$	2,190,835	$	2,190,974
$	12,769	$	13,219	$	10,406	$	10,409	$	10,388	$	10,408

See accompanying notes to financial statements.

|  88

Financial Highlights

For a share outstanding throughout each period.

	Natixis Sustainable Future 2015 Fund—Class N
	Period Ended July 31, 2017* (Unaudited)
Net asset value, beginning of the period	$	10.00
INCOME (LOSS) FROM INVESTMENT OPERATIONS:
Net investment income(a)		0.05
Net realized and unrealized gain (loss)		0.49
Total from Investment Operations		0.54
Net asset value, end of the period	$	10.54
Total return(b)(c)		5.40	%
RATIOS TO AVERAGE NET ASSETS:
Net assets, end of the period (000’s)	$	4,215
Net expenses(d)(e)(f)		0.38	%
Gross expenses(d)(f)		3.72	%
Net investment income(d)		1.07	%
Portfolio turnover rate		7	%

* From commencement of operations on February 28, 2017 through July 31, 2017.

(a) Per share net investment income has been calculated using the average shares outstanding during the period.

(b) Had certain expenses not been waived/reimbursed during the period, total returns would have been lower.

(c) Periods less than one year are not annualized.

(d) Computed on an annualized basis for periods less than one year.

(e) The investment adviser agreed to waive its fees and/or reimburse a portion of the Fund’s expenses during the period. Without this waiver/reimbursement, expenses would have been higher.

(f) Does not include expenses of the underlying funds in which the Fund invests. Had underlying fund expenses been included, the net and gross expense ratios to average net assets would have been 0.65% and 3.99%, respectively.

See accompanying notes to financial statements.

89  |

Financial Highlights (continued)

For a share outstanding throughout each period.

	Natixis Sustainable Future 2020 Fund—Class N
	Period Ended July 31, 2017* (Unaudited)
Net asset value, beginning of the period	$	10.00
INCOME (LOSS) FROM INVESTMENT OPERATIONS:
Net investment income(a)		0.05
Net realized and unrealized gain (loss)		0.56
Total from Investment Operations		0.61
Net asset value, end of the period	$	10.61
Total return(b)(c)		6.10	%
RATIOS TO AVERAGE NET ASSETS:
Net assets, end of the period (000’s)	$	4,245
Net expenses(d)(e)(f)		0.41	%
Gross expenses(d)(f)		3.73	%
Net investment income(d)		1.07	%
Portfolio turnover rate		6	%

* From commencement of operations on February 28, 2017 through July 31, 2017.

(a) Per share net investment income has been calculated using the average shares outstanding during the period.

(b) Had certain expenses not been waived/reimbursed during the period, total returns would have been lower.

(c) Periods less than one year are not annualized.

(d) Computed on an annualized basis for periods less than one year.

(e) The investment adviser agreed to waive its fees and/or reimburse a portion of the Fund’s expenses during the period. Without this waiver/reimbursement, expenses would have been higher.

(f) Does not include expenses of the underlying funds in which the Fund invests. Had underlying fund expenses been included, the net and gross expense ratios to average net assets would have been 0.65% and 3.97%, respectively.

See accompanying notes to financial statements.

|  90

Financial Highlights (continued)

For a share outstanding throughout each period.

	Natixis Sustainable Future 2025 Fund—Class N
	Period Ended July 31, 2017* (Unaudited)
Net asset value, beginning of the period	$	10.00
INCOME (LOSS) FROM INVESTMENT OPERATIONS:
Net investment income(a)		0.05
Net realized and unrealized gain (loss)		0.62
Total from Investment Operations		0.67
Net asset value, end of the period	$	10.67
Total return(b)(c)		6.70	%
RATIOS TO AVERAGE NET ASSETS:
Net assets, end of the period (000’s)	$	3,201
Net expenses(d)(e)(f)		0.45	%
Gross expenses(d)(f)		4.65	%
Net investment income(d)		1.07	%
Portfolio turnover rate		9	%

* From commencement of operations on February 28, 2017 through July 31, 2017.

(a) Per share net investment income has been calculated using the average shares outstanding during the period.

(b) Had certain expenses not been waived/reimbursed during the period, total returns would have been lower.

(c) Periods less than one year are not annualized.

(d) Computed on an annualized basis for periods less than one year.

(e) The investment adviser agreed to waive its fees and/or reimburse a portion of the Fund’s expenses during the period. Without this waiver/reimbursement, expenses would have been higher.

(f) Does not include expenses of the underlying funds in which the Fund invests. Had underlying fund expenses been included, the net and gross expense ratios to average net assets would have been 0.65% and 4.85%, respectively.

See accompanying notes to financial statements.

91  |

Financial Highlights (continued)

For a share outstanding throughout each period.

	Natixis Sustainable Future 2030 Fund—Class N
	Period Ended July 31, 2017* (Unaudited)
Net asset value, beginning of the period	$	10.00
INCOME (LOSS) FROM INVESTMENT OPERATIONS:
Net investment income(a)		0.05
Net realized and unrealized gain (loss)		0.71
Total from Investment Operations		0.76
Net asset value, end of the period	$	10.76
Total return(b)(c)		7.60	%
RATIOS TO AVERAGE NET ASSETS:
Net assets, end of the period (000’s)	$	2,689
Net expenses(d)(e)(f)		0.51	%
Gross expenses(d)(f)		5.34	%
Net investment income(d)		1.13	%
Portfolio turnover rate		9	%

* From commencement of operations on February 28, 2017 through July 31, 2017.

(a) Per share net investment income has been calculated using the average shares outstanding during the period.

(b) Had certain expenses not been waived/reimbursed during the period, total returns would have been lower.

(c) Periods less than one year are not annualized.

(d) Computed on an annualized basis for periods less than one year.

(e) The investment adviser agreed to waive its fees and/or reimburse a portion of the Fund’s expenses during the period. Without this waiver/reimbursement, expenses would have been higher.

(f) Does not include expenses of the underlying funds in which the Fund invests. Had underlying fund expenses been included, the net and gross expense ratios to average net assets would have been 0.65% and 5.48%, respectively.

See accompanying notes to financial statements.

|  92

Financial Highlights (continued)

For a share outstanding throughout each period.

	Natixis Sustainable Future 2035 Fund—Class N
	Period Ended July 31, 2017* (Unaudited)
Net asset value, beginning of the period	$	10.00
INCOME (LOSS) FROM INVESTMENT OPERATIONS:
Net investment income(a)		0.05
Net realized and unrealized gain (loss)		0.79
Total from Investment Operations		0.84
Net asset value, end of the period	$	10.84
Total return(b)(c)		8.40	%
RATIOS TO AVERAGE NET ASSETS:
Net assets, end of the period (000’s)	$	2,710
Net expenses(d)(e)(f)		0.55	%
Gross expenses(d)(f)		5.34	%
Net investment income(d)		1.17	%
Portfolio turnover rate		9	%

* From commencement of operations on February 28, 2017 through July 31, 2017.

(a) Per share net investment income has been calculated using the average shares outstanding during the period.

(b) Had certain expenses not been waived/reimbursed during the period, total returns would have been lower.

(c) Periods less than one year are not annualized.

(d) Computed on an annualized basis for periods less than one year.

(e) The investment adviser agreed to waive its fees and/or reimburse a portion of the Fund’s expenses during the period. Without this waiver/reimbursement, expenses would have been higher.

(f) Does not include expenses of the underlying funds in which the Fund invests. Had underlying fund expenses been included, the net and gross expense ratios to average net assets would have been 0.65% and 5.44%, respectively.

See accompanying notes to financial statements.

93  |

Financial Highlights (continued)

For a share outstanding throughout each period.

	Natixis Sustainable Future 2040 Fund—Class N
	Period Ended July 31, 2017* (Unaudited)
Net asset value, beginning of the period	$	10.00
INCOME (LOSS) FROM INVESTMENT OPERATIONS:
Net investment income(a)		0.05
Net realized and unrealized gain (loss)		0.84
Total from Investment Operations		0.89
Net asset value, end of the period	$	10.89
Total return(b)(c)		8.90	%
RATIOS TO AVERAGE NET ASSETS:
Net assets, end of the period (000’s)	$	2,724
Net expenses(d)(e)(f)		0.59	%
Gross expenses(d)(f)		5.34	%
Net investment income(d)		1.21	%
Portfolio turnover rate		9	%

* From commencement of operations on February 28, 2017 through July 31, 2017.

(a) Per share net investment income has been calculated using the average shares outstanding during the period.

(b) Had certain expenses not been waived/reimbursed during the period, total returns would have been lower.

(c) Periods less than one year are not annualized.

(d) Computed on an annualized basis for periods less than one year.

(e) The investment adviser agreed to waive its fees and/or reimburse a portion of the Fund’s expenses during the period. Without this waiver/reimbursement, expenses would have been higher.

(f) Does not include expenses of the underlying funds in which the Fund invests. Had underlying fund expenses been included, the net and gross expense ratios to average net assets would have been 0.65% and 5.40%, respectively.

See accompanying notes to financial statements.

|  94

Financial Highlights (continued)

For a share outstanding throughout each period.

	Natixis Sustainable Future 2045 Fund—Class N
	Period Ended July 31, 2017* (Unaudited)
Net asset value, beginning of the period	$	10.00
INCOME (LOSS) FROM INVESTMENT OPERATIONS:
Net investment income(a)		0.05
Net realized and unrealized gain (loss)		0.88
Total from Investment Operations		0.93
Net asset value, end of the period	$	10.93
Total return(b)(c)		9.30	%
RATIOS TO AVERAGE NET ASSETS:
Net assets, end of the period (000’s)	$	2,186
Net expenses(d)(e)(f)		0.61	%
Gross expenses(d)(f)		6.41	%
Net investment income(d)		1.19	%
Portfolio turnover rate		12	%

* From commencement of operations on February 28, 2017 through July 31, 2017.

(a) Per share net investment income has been calculated using the average shares outstanding during the period.

(b) Had certain expenses not been waived/reimbursed during the period, total returns would have been lower.

(c) Periods less than one year are not annualized.

(d) Computed on an annualized basis for periods less than one year.

(e) The investment adviser agreed to waive its fees and/or reimburse a portion of the Fund’s expenses during the period. Without this waiver/reimbursement, expenses would have been higher.

(f) Does not include expenses of the underlying funds in which the Fund invests. Had underlying fund expenses been included, the net and gross expense ratios to average net assets would have been 0.65% and 6.45%, respectively.

See accompanying notes to financial statements.

95  |

Financial Highlights (continued)

For a share outstanding throughout each period.

	Natixis Sustainable Future 2050 Fund—Class N
	Period Ended July 31, 2017* (Unaudited)
Net asset value, beginning of the period	$	10.00
INCOME (LOSS) FROM INVESTMENT OPERATIONS:
Net investment income(a)		0.05
Net realized and unrealized gain (loss)		0.90
Total from Investment Operations		0.95
Net asset value, end of the period	$	10.95
Total return(b)(c)		9.50	%
RATIOS TO AVERAGE NET ASSETS:
Net assets, end of the period (000’s)	$	2,191
Net expenses(d)(e)(f)		0.62	%
Gross expenses(d)(f)		6.42	%
Net investment income(d)		1.18	%
Portfolio turnover rate		12	%

* From commencement of operations on February 28, 2017 through July 31, 2017.

(a) Per share net investment income has been calculated using the average shares outstanding during the period.

(b) Had certain expenses not been waived/reimbursed during the period, total returns would have been lower.

(c) Periods less than one year are not annualized.

(d) Computed on an annualized basis for periods less than one year.

(e) The investment adviser agreed to waive its fees and/or reimburse a portion of the Fund’s expenses during the period. Without this waiver/reimbursement, expenses would have been higher.

(f) Does not include expenses of the underlying funds in which the Fund invests. Had underlying fund expenses been included, the net and gross expense ratios to average net assets would have been 0.65% and 6.45%, respectively.

See accompanying notes to financial statements.

|  96

Financial Highlights (continued)

For a share outstanding throughout each period.

	Natixis Sustainable Future 2055 Fund—Class N
	Period Ended July 31, 2017* (Unaudited)
Net asset value, beginning of the period	$	10.00
INCOME (LOSS) FROM INVESTMENT OPERATIONS:
Net investment income(a)		0.05
Net realized and unrealized gain (loss)		0.90
Total from Investment Operations		0.95
Net asset value, end of the period	$	10.95
Total return(b)(c)		9.50	%
RATIOS TO AVERAGE NET ASSETS:
Net assets, end of the period (000’s)	$	2,191
Net expenses(d)(e)(f)		0.62	%
Gross expenses(d)(f)		6.41	%
Net investment income(d)		1.18	%
Portfolio turnover rate		12	%

* From commencement of operations on February 28, 2017 through July 31, 2017.

(a) Per share net investment income has been calculated using the average shares outstanding during the period.

(b) Had certain expenses not been waived/reimbursed during the period, total returns would have been lower.

(c) Periods less than one year are not annualized.

(d) Computed on an annualized basis for periods less than one year.

(e) The investment adviser agreed to waive its fees and/or reimburse a portion of the Fund’s expenses during the period. Without this waiver/reimbursement, expenses would have been higher.

(f) Does not include expenses of the underlying funds in which the Fund invests. Had underlying fund expenses been included, the net and gross expense ratios to average net assets would have been 0.65% and 6.44%, respectively.

See accompanying notes to financial statements.

97  |

Financial Highlights (continued)

For a share outstanding throughout each period.

	Natixis Sustainable Future 2060 Fund—Class N
	Period Ended July 31, 2017* (Unaudited)
Net asset value, beginning of the period	$	10.00
INCOME (LOSS) FROM INVESTMENT OPERATIONS:
Net investment income(a)		0.05
Net realized and unrealized gain (loss)		0.90
Total from Investment Operations		0.95
Net asset value, end of the period	$	10.95
Total return(b)(c)		9.50	%
RATIOS TO AVERAGE NET ASSETS:
Net assets, end of the period (000’s)	$	2,191
Net expenses(d)(e)(f)		0.62	%
Gross expenses(d)(f)		6.42	%
Net investment income(d)		1.18	%
Portfolio turnover rate		12	%

* From commencement of operations on February 28, 2017 through July 31, 2017.

(a) Per share net investment income has been calculated using the average shares outstanding during the period.

(b) Had certain expenses not been waived/reimbursed during the period, total returns would have been lower.

(c) Periods less than one year are not annualized.

(d) Computed on an annualized basis for periods less than one year.

(e) The investment adviser agreed to waive its fees and/or reimburse a portion of the Fund’s expenses during the period. Without this waiver/reimbursement, expenses would have been higher.

(f) Does not include expenses of the underlying funds in which the Fund invests. Had underlying fund expenses been included, the net and gross expense ratios to average net assets would have been 0.65% and 6.45%, respectively.

See accompanying notes to financial statements.

|  98

Notes to Financial Statements

July 31, 2017 (Unaudited)

1.  Organization.  Natixis Funds Trust IV (the “Trust”) is organized as a Massachusetts business trust. The Trust is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as an open-end management investment company. The Declaration of Trust permits the Board of Trustees to authorize the issuance of an unlimited number of shares of the Trust in multiple series. The financial statements for certain funds of the Trust are presented in separate reports. The following funds (individually, a “Fund” and collectively, the “Funds”) are included in this report:

Natixis Funds Trust IV:

Natixis Sustainable Future 2015 Fund (the “Sustainable Future 2015 Fund”)

Natixis Sustainable Future 2020 Fund (the “Sustainable Future 2020 Fund”)

Natixis Sustainable Future 2025 Fund (the “Sustainable Future 2025 Fund”)

Natixis Sustainable Future 2030 Fund (the “Sustainable Future 2030 Fund”)

Natixis Sustainable Future 2035 Fund (the “Sustainable Future 2035 Fund”)

Natixis Sustainable Future 2040 Fund (the “Sustainable Future 2040 Fund”)

Natixis Sustainable Future 2045 Fund (the “Sustainable Future 2045 Fund”)

Natixis Sustainable Future 2050 Fund (the “Sustainable Future 2050 Fund”)

Natixis Sustainable Future 2055 Fund (the “Sustainable Future 2055 Fund”)

Natixis Sustainable Future 2060 Fund (the “Sustainable Future 2060 Fund”)

Each Fund is a diversified investment company.

Each Fund commenced operations on February 28, 2017 via contribution to the Fund by Natixis Global Asset Management L.P. (“Natixis US”) in the following amounts:

Funds	Amount
Sustainable Future 2015 Fund	$	4,000,000
Sustainable Future 2020 Fund		4,000,000
Sustainable Future 2025 Fund		3,000,000
Sustainable Future 2030 Fund		2,500,000
Sustainable Future 2035 Fund		2,500,000
Sustainable Future 2040 Fund		2,500,000
Sustainable Future 2045 Fund		2,000,000
Sustainable Future 2050 Fund		2,000,000
Sustainable Future 2055 Fund		2,000,000
Sustainable Future 2060 Fund		2,000,000

Each fund offers Class N shares. Class Y Shares are not currently available for purchase.

Class N shares do not pay a front-end sales charge, a CDSC or Rule 12b-1 fees. Class N shares are offered with an initial minimum investment of $1,000,000. Certain categories of investors are exempted from the minimum investment amounts for Class N as outlined in the Funds’ prospectus.

Most expenses can be directly attributed to a Fund. Expenses which cannot be directly attributed to a Fund are generally apportioned based on the relative net assets of each of the funds in Natixis Funds Trust I, Natixis Funds Trust II, Natixis Funds Trust IV, Gateway Trust and Natixis ETF Trust (“Natixis Funds Trusts”), Loomis Sayles Funds I and Loomis Sayles Funds II (“Loomis Sayles Funds Trusts”).

2.  Significant Accounting Policies.  The following is a summary of significant accounting policies consistently followed by each Fund in the preparation of its financial statements. The Funds’ financial statements follow the accounting and reporting guidelines provided for investment companies and are prepared in accordance with accounting principles generally accepted in the United States of America which require the use of management estimates that affect the reported amounts and disclosures in the financial statements. Actual results could differ from those estimates. Management has evaluated the events and transactions subsequent to period-end through the date the financial statements were issued and has determined that there were no material events that would require disclosure in the Funds’ financial statements.

a.  Valuation.  Fund securities and other investments are valued at market value based on market quotations obtained or determined by independent pricing services recommended by the adviser and subadviser and approved by the Board of Trustees. Fund securities and other investments for which market quotations are not readily available are valued at fair value as determined in good faith by the adviser or subadviser pursuant to procedures approved by the Board of Trustees, as described below. Market value is determined as follows:

Listed equity securities (including shares of closed-end investment companies and exchange-traded funds) are valued at the last sale price quoted on the exchange where they are traded most extensively or, if there is no reported sale during the day, the closing bid

99  |

Notes to Financial Statements (continued)

July 31, 2017 (Unaudited)

quotation as reported by an independent pricing service. Securities traded on the NASDAQ Global Select Market, NASDAQ Global Market and NASDAQ Capital Market are valued at the NASDAQ Official Closing Price (“NOCP”), or if lacking an NOCP, at the most recent bid quotations on the applicable NASDAQ Market. Unlisted equity securities (except unlisted preferred equity securities) are valued at the last sale price quoted in the market where they are traded most extensively or, if there is no reported sale during the day, the closing bid quotation as reported by an independent pricing service. If there is no last sale price or closing bid quotation available, unlisted equity securities will be valued using evaluated bids furnished by an independent pricing service, if available. In some foreign markets, an official close price and a last sale price may be available from the foreign exchange or market. In those cases, the official close price is used. Broker-dealer bid prices may be used to value unlisted equity securities where an independent pricing service is unable to price a security or where an independent pricing service does not provide a reliable price for the security. Mutual funds are valued at net asset value.

Fund securities and other investments for which market quotations are not readily available are valued at fair value as determined in good faith by the adviser or subadviser pursuant to procedures approved by the Board of Trustees. The Funds may also value securities and other investments at fair value in other circumstances such as when extraordinary events occur after the close of a foreign market but prior to the close of the New York Stock Exchange (“NYSE”). This may include situations relating to a single issuer (such as a declaration of bankruptcy or a delisting of the issuer’s security from the primary market on which it has traded) as well as events affecting the securities markets in general (such as market disruptions or closings and significant fluctuations in U.S. and/or foreign markets). When fair valuing its securities or other investments, the Funds may, among other things, use modeling tools or other processes that may take into account factors such as securities or other market activity and/or significant events that occur after the close of the foreign market and before the time the Fund’s net asset value (“NAV”) is calculated. Fair value pricing may require subjective determinations about the value of a security, and fair values used to determine a Fund’s NAV may differ from quoted or published prices, or from prices that are used by others, for the same securities. In addition, the use of fair value pricing may not always result in adjustments to the prices of securities held by a Fund.

b.  Investment Transactions and Related Investment Income.  Investment transactions are accounted for on a trade date plus one day basis for daily NAV calculation. However, for financial reporting purposes, investment transactions are reported on trade date. Dividend income is recorded on ex-dividend date, or in the case of certain foreign securities, as soon as a Fund is notified, and interest income is recorded on an accrual basis. Interest income is increased by the accretion of discount and decreased by the amortization of premium, if applicable. Distributions received from investments in securities that represent a return of capital or capital gain are recorded as a reduction of cost of investments or as a realized gain, respectively. In determining net gain or loss on securities sold, the cost of securities has been determined on an identified cost basis.

c.  Foreign Currency Translation.  The books and records of the Funds are maintained in U.S. dollars. The values of securities, currencies and other assets and liabilities denominated in currencies other than U.S. dollars are translated into U.S. dollars based upon foreign exchange rates prevailing at the end of the period. Purchases and sales of investment securities, income and expenses are translated into U.S. dollars on the respective dates of such transactions.

Net realized foreign exchange gains or losses arise from sales of foreign currency, changes in exchange rates between the trade and settlement dates on securities transactions and the difference between the amounts of dividends, interest and foreign withholding taxes recorded on the Fund’s books and the U.S. dollar equivalent of the amounts actually received or paid. Net unrealized foreign exchange gains or losses arise from changes in the value of assets and liabilities, other than investment securities, as of the end of the fiscal period, resulting from changes in exchange rates. Net realized foreign exchange gains or losses and the net change in unrealized foreign exchange gains or losses are disclosed in the Statements of Operations. For federal income tax purposes, net realized foreign exchange gains or losses are characterized as ordinary income, and may, if the Funds have net losses, reduce the amount of income available to be distributed by the Funds.

The values of investment securities are presented at the foreign exchange rates prevailing at the end of the period for financial reporting purposes. Net realized and unrealized gains or losses on investments reported in the Statements of Operations reflect gains or losses resulting from changes in exchange rates and fluctuations which arise due to changes in market prices of investment securities.

The Funds may use foreign currency exchange contracts to facilitate transactions in foreign-denominated investments. Losses may arise from changes in the value of the foreign currency or if the counterparties do not perform under the contracts’ terms.

d.  Federal and Foreign Income Taxes.  The Trust treats each Fund as a separate entity for federal income tax purposes. Each Fund intends to meet the requirements of the Internal Revenue Code of 1986, as amended, applicable to regulated investment companies, and to distribute to its shareholders substantially all of its net investment income and any net realized capital gains at least annually. Management has performed an analysis of each Fund’s tax positions for the open tax period as of July 31, 2017 and has concluded that

|  100

Notes to Financial Statements (continued)

July 31, 2017 (Unaudited)

no provisions for income tax are required. Management is not aware of any events that are reasonably possible to occur in the next six months that would result in the amounts of any unrecognized tax benefits significantly increasing or decreasing for the Funds. However, management’s conclusions regarding tax positions taken may be subject to review and adjustment at a later date based on factors including, but not limited to, new tax laws and accounting regulations and interpretations thereof.

A Fund may be subject to foreign withholding taxes on investment income and taxes on capital gains on investments that are accrued and paid based upon the Fund’s understanding of the tax rules and regulations that exist in the countries in which the Fund invests. Foreign withholding taxes on dividend and interest income are reflected on the Statements of Operations as a reduction of investment income, net of amounts eligible to be reclaimed. Dividends and interest receivable on the Statements of Assets and Liabilities are net of foreign withholding taxes. Foreign withholding taxes where reclaims have been or will be filed are reflected on the Statements of Assets and Liabilities as tax reclaims receivable. Capital gains taxes paid are included in net realized gain (loss) on investments in the Statements of Operations. Accrued but unpaid capital gains taxes are reflected as foreign taxes payable on the Statements of Assets and Liabilities, if applicable, and reduce unrealized gains on investments. In the event that realized gains on investments are subsequently offset by realized losses, taxes paid on realized gains may be returned to a Fund. Such amounts, if applicable, are reflected as foreign tax rebates receivable on the Statements of Assets and Liabilities and are recorded as a realized gain when received.

e.  Dividends and Distributions to Shareholders.  Dividends and distributions are recorded on ex-dividend date. The timing and characterization of certain income and capital gain distributions are determined in accordance with federal tax regulations, which may differ from accounting principles generally accepted in the United States of America. Permanent book and tax basis differences relating to shareholder distributions, net investment income and net realized gains will result in reclassifications to capital accounts reported on the Statements of Assets and Liabilities. Amounts of income and capital gain available to be distributed on a tax basis are determined annually, and at other times during the Funds’ fiscal year as may be necessary to avoid knowingly declaring and paying a return of capital distribution. Distributions from net investment income and short-term capital gains are considered to be distributed from ordinary income for tax purposes.

f.  Indemnifications.  Under the Trust’s organizational documents, its officers and Trustees are indemnified against certain liabilities arising out of the performance of their duties to the Funds. Additionally, in the normal course of business, the Funds enter into contracts with service providers that contain general indemnification clauses. The Funds’ maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Funds that have not yet occurred. However, based on experience, the Funds expect the risk of loss to be remote.

g.  New Accounting Pronouncement.  In October 2016, the SEC adopted amendments to rules under the Investment Company Act of 1940 (“final rules”) intended to modernize the reporting and disclosure of information by registered investment companies. The final rules amend Regulation S-X and require funds to provide standardized, enhanced derivative disclosures in fund financial statements in a format designed for individual investors. The amendments to Regulation S-X also update the disclosures for other investments, including investments in and advances to affiliates, and amend the rules regarding the general form and content of fund financial statements. The compliance date for the amendments to Regulation S-X is August 1, 2017. Management is currently evaluating the amendments and the impact, if any, on the Funds’ financial statements.

3.  Fair Value Measurements.  In accordance with accounting standards related to fair value measurements and disclosures, the Funds have categorized the inputs utilized in determining the value of each Fund’s assets or liabilities. These inputs are summarized in the three broad levels listed below:

• Level 1 – quoted prices in active markets for identical assets or liabilities;

• Level 2 – prices determined using other significant inputs that are observable either directly, or indirectly through corroboration with observable market data (which could include quoted prices for similar assets or liabilities, interest rates, credit risk, etc.); and

• Level 3 – prices determined using significant unobservable inputs when quoted prices or observable inputs are unavailable such as when there is little or no market activity for an asset or liability (unobservable inputs reflect each Fund’s own assumptions in determining the fair value of assets or liabilities and would be based on the best information available).

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

101  |

Notes to Financial Statements (continued)

July 31, 2017 (Unaudited)

The following is a summary of the inputs used to value the Funds’ investments as of July 31, 2017, at value:

Sustainable Future 2015 Fund

Asset Valuation Inputs

Description	Level 1		Level 2		Level 3		Total
Common Stocks(a)	$	2,016,649	$	—	$	—	$	2,016,649
Affiliated Mutual Funds		2,069,956		—		—		2,069,956
Closed-End Investment Companies		876		—		—		876
Total	$	4,087,481	$	—	$	—	$	4,087,481

(a) Details of the major categories of the Fund’s investments are reflected within the Portfolio of Investments.

For the period ended July 31, 2017, there were no transfers among Levels 1, 2 and 3.

Sustainable Future 2020 Fund

Asset Valuation Inputs

Description	Level 1		Level 2		Level 3		Total
Common Stocks(a)	$	2,332,110	$	—	$	—	$	2,332,110
Affiliated Mutual Funds		1,784,168		—		—		1,784,168
Closed-End Investment Companies		1,051		—		—		1,051
Total	$	4,117,329	$	—	$	—	$	4,117,329

(a) Details of the major categories of the Fund’s investments are reflected within the Portfolio of Investments.

For the period ended July 31, 2017, there were no transfers among Levels 1, 2 and 3.

Sustainable Future 2025 Fund

Asset Valuation Inputs

Description	Level 1		Level 2		Level 3		Total
Common Stocks(a)	$	1,954,212	$	—	$	—	$	1,954,212
Affiliated Mutual Funds		1,124,770		—		—		1,124,770
Closed-End Investment Companies		759		—		—		759
Total	$	3,079,741	$	—	$	—	$	3,079,741

(a) Details of the major categories of the Fund’s investments are reflected within the Portfolio of Investments.

For the period ended July 31, 2017, there were no transfers among Levels 1, 2 and 3.

Sustainable Future 2030 Fund

Asset Valuation Inputs

Description	Level 1		Level 2		Level 3		Total
Common Stocks(a)	$	1,874,177	$	—	$	—	$	1,874,177
Affiliated Mutual Funds		704,574		—		—		704,574
Closed-End Investment Companies		759		—		—		759
Total	$	2,579,510	$	—	$	—	$	2,579,510

(a) Details of the major categories of the Fund’s investments are reflected within the Portfolio of Investments.

For the period ended July 31, 2017, there were no transfers among Levels 1, 2 and 3.

|  102

Notes to Financial Statements (continued)

July 31, 2017 (Unaudited)

Sustainable Future 2035 Fund

Asset Valuation Inputs

Description	Level 1		Level 2		Level 3		Total
Common Stocks(a)	$	2,095,251	$	—	$	—	$	2,095,251
Affiliated Mutual Funds		491,488		—		—		491,488
Closed-End Investment Companies		876		—		—		876
Total	$	2,587,615	$	—	$	—	$	2,587,615

(a) Details of the major categories of the Fund’s investments are reflected within the Portfolio of Investments.

For the period ended July 31, 2017, there were no transfers among Levels 1, 2 and 3.

Sustainable Future 2040 Fund

Asset Valuation Inputs

Description	Level 1		Level 2		Level 3		Total
Common Stocks(a)	$	2,267,568	$	—	$	—	$	2,267,568
Affiliated Mutual Funds		329,343		—		—		329,343
Closed-End Investment Companies		876		—		—		876
Total	$	2,597,787	$	—	$	—	$	2,597,787

(a) Details of the major categories of the Fund’s investments are reflected within the Portfolio of Investments.

For the period ended July 31, 2017, there were no transfers among Levels 1, 2 and 3.

Sustainable Future 2045 Fund

Asset Valuation Inputs

Description	Level 1		Level 2		Level 3		Total
Common Stocks(a)	$	1,901,059	$	—	$	—	$	1,901,059
Affiliated Mutual Funds		177,242		—		—		177,242
Closed-End Investment Companies		759		—		—		759
Total	$	2,079,060	$	—	$	—	$	2,079,060

(a) Details of the major categories of the Fund’s investments are reflected within the Portfolio of Investments.

For the period ended July 31, 2017, there were no transfers among Levels 1, 2 and 3.

Sustainable Future 2050 Fund

Asset Valuation Inputs

Description	Level 1		Level 2		Level 3		Total
Common Stocks(a)	$	1,945,190	$	—	$	—	$	1,945,190
Affiliated Mutual Funds		133,388		—		—		133,388
Closed-End Investment Companies		759		—		—		759
Total	$	2,079,337	$	—	$	—	$	2,079,337

(a) Details of the major categories of the Fund’s investments are reflected within the Portfolio of Investments.

For the period ended July 31, 2017, there were no transfers among Levels 1, 2 and 3.

103  |

Notes to Financial Statements (continued)

July 31, 2017 (Unaudited)

Sustainable Future 2055 Fund

Asset Valuation Inputs

Description	Level 1		Level 2		Level 3		Total
Common Stocks(a)	$	1,942,846	$	—	$	—	$	1,942,846
Affiliated Mutual Funds		133,438		—		—		133,438
Closed-End Investment Companies		759		—		—		759
Total	$	2,077,043	$	—	$	—	$	2,077,043

(a) Details of the major categories of the Fund’s investments are reflected within the Portfolio of Investments.

For the period ended July 31, 2017, there were no transfers among Levels 1, 2 and 3.

Sustainable Future 2060 Fund

Asset Valuation Inputs

Description	Level 1		Level 2		Level 3		Total
Common Stocks(a)	$	1,946,662	$	—	$	—	$	1,946,662
Affiliated Mutual Funds		133,384		—		—		133,384
Closed-End Investment Companies		759		—		—		759
Total	$	2,080,805	$	—	$	—	$	2,080,805

(a) Details of the major categories of the Fund’s investments are reflected within the Portfolio of Investments.

For the period ended July 31, 2017, there were no transfers among Levels 1, 2 and 3.

4.  Purchases and Sales of Securities.  For the period ended July 31, 2017, purchases and sales of securities (excluding short-term investments and U.S. Government/Agency securities) were as follows:

Fund	Purchases		Sales
Sustainable Future 2015 Fund	$	4,149,705	$	258,916
Sustainable Future 2020 Fund		4,149,103		258,009
Sustainable Future 2025 Fund		3,150,422		258,243
Sustainable Future 2030 Fund		2,630,424		227,994
Sustainable Future 2035 Fund		2,607,249		216,891
Sustainable Future 2040 Fund		2,605,501		218,194
Sustainable Future 2045 Fund		2,141,344		237,547
Sustainable Future 2050 Fund		2,139,435		240,648
Sustainable Future 2055 Fund		2,142,103		245,505
Sustainable Future 2060 Fund		2,140,689		240,449

5.  Management Fees and Other Transactions with Affiliates.

a.  Management Fees.  NGAM Advisors, L.P. (“NGAM Advisors”), serves as investment adviser to each Fund. NGAM Advisors is a wholly-owned subsidiary of Natixis US, which is part of Natixis Global Asset Management, an international asset management group based in Paris, France. Under the terms of the management agreements, each Fund pays a management fee calculated daily and payable monthly, based on each Fund’s average daily net assets.

NGAM Advisors has entered into a subadvisory agreement with Natixis Asset Management U.S., LLC (“Natixis AM US”) with respect to the Mirova Global Sustainable Equity Segment and Mirova Carbon Neutral U.S. Equity Segment of each fund. Natixis AM US is a subsidiary of Natixis Asset Management, which is in turn a subsidiary of Natixis Global Asset Management.

NGAM Advisors has also entered into a subadvisory agreement with Wilshire Associates Incorporated (“Wilshire”), pursuant to which Wilshire performs certain asset allocation, glide path monitoring and compliance responsibilities for each Fund.

The aggregate advisory fee to be paid by each Fund is equal to the sum of: (i) 0.165% of the average daily net assets of the AIA U.S. Large Cap Value ESG Segment; (ii) 0.50% of the average daily net assets of the Mirova Global Sustainable Equity Segment, payable to Natixis AM US as subadviser; (iii) 0.25% of the average daily net assets of the Mirova Carbon Neutral U.S. Equity Segment, payable to Natixis AM US as sub-adviser; and (iv) the greater of an asset based fee calculated by multiplying the Fund’s average daily net assets

|  104

Notes to Financial Statements (continued)

July 31, 2017 (Unaudited)

by a rate based on the combined average daily net assets of all the Funds, equal to 0.08% of the first $250 million, 0.07% of the next $250 million, 0.06% of the next $750 million and 0.03% of amounts exceeding $1.25 billion of the combined average daily net assets of the Funds, or the Fund’s allocable portion of a minimum annual fee of $250,000 which applies to the Funds in the aggregate, payable to Wilshire as sub-adviser.

Payments to NGAM Advisors are reduced by the amounts of payments to the subadvisers.

NGAM Advisors has given binding undertakings to the Funds to waive management fees and/or reimburse certain expenses to limit the Funds’ operating expenses, exclusive of brokerage expenses, interest expense, taxes, organizational and extraordinary expenses, such as litigation and indemnification expenses. These undertakings are in effect until May 31, 2018, may be terminated before then only with the consent of the Funds’ Board of Trustees, and are reevaluated on an annual basis. Management fees payable, as reflected on the Statements of Assets and Liabilities, is net of waivers and/or expense reimbursements, if any, pursuant to these undertakings. Waivers/reimbursements that exceed management fees payable are reflected on the Statements of Assets and Liabilities as receivable from investment adviser.

For the period ended July 31, 2017, the Funds’ expense limit as a percentage of average daily net assets under the expense limitation agreements was 0.65%, including expenses of the underlying funds in which each Fund invests.

NGAM Advisors shall be permitted to recover expenses it has borne under the expense limitation agreements (whether through waiver of its management fees or otherwise) on a class by class basis in later periods to the extent the annual operating expenses of a class fall below a class’ expense limits, provided, however, that a class is not obligated to pay such waived/reimbursed fees or expenses more than one year after the end of the fiscal year in which the fees or expenses were waived/reimbursed.

For the period ended July 31, 2017, the management fees and waivers of management fees for each Fund were as follows:

Fund	Gross Management Fees		Contractual Waivers of Management Fees1		Net Management Fees		Percentage of Average Daily Net Assets
							Gross		Net
Sustainable Future 2015 Fund	$	19,080	$	19,080	$	—		1.11%		—%
Sustainable Future 2020 Fund		19,675		19,675		—		1.14%		—%
Sustainable Future 2025 Fund		15,177		15,177		—		1.17%		—%
Sustainable Future 2030 Fund		13,093		13,093		—		1.20%		—%
Sustainable Future 2035 Fund		13,507		13,507		—		1.24%		—%
Sustainable Future 2040 Fund		13,799		13,799		—		1.26%		—%
Sustainable Future 2045 Fund		11,205		11,205		—		1.28%		—%
Sustainable Future 2050 Fund		11,308		11,308		—		1.29%		—%
Sustainable Future 2055 Fund		11,305		11,305		—		1.29%		—%
Sustainable Future 2060 Fund		11,308		11,308		—		1.29%		—%

¹ Management fee waiver is subject to possible recovery until January 31, 2019, though actual recovery is unlikely.

For the period ended July 31, 2017, expenses have been reimbursed as follows:

Fund	Reimbursement2
Sustainable Future 2015 Fund	$	38,341
Sustainable Future 2020 Fund		37,723
Sustainable Future 2025 Fund		39,424
Sustainable Future 2030 Fund		39,533
Sustainable Future 2035 Fund		38,814
Sustainable Future 2040 Fund		38,261
Sustainable Future 2045 Fund		39,705
Sustainable Future 2050 Fund		39,705
Sustainable Future 2055 Fund		39,616
Sustainable Future 2060 Fund		39,674

² Contractual expense reimbursements are subject to possible recovery until January 31, 2019.

No expenses were recovered during the period ended July 31, 2017 under the terms of the expense limitation agreements.

105  |

Notes to Financial Statements (continued)

July 31, 2017 (Unaudited)

b.  Service and Distribution Fees.  NGAM Distribution, L.P. (“NGAM Distribution”), which is a wholly-owned subsidiary of Natixis US, has entered into a distribution agreement with the Trust. Pursuant to this agreement, NGAM Distribution serves as principal underwriter of the Funds of the Trust. NGAM Distribution currently is not paid a fee for serving as distributor for the Funds.

c.  Administrative Fees.  NGAM Advisors provides certain administrative services for the Funds and contracts with State Street Bank to serve as sub-administrator. Pursuant to an agreement among Natixis Funds Trusts, Loomis Sayles Funds Trusts and NGAM Advisors, each Fund pays NGAM Advisors monthly its pro rata portion of fees equal to an annual rate of 0.0575% of the first $15 billion of the average daily net assets of the Natixis Funds Trusts and Loomis Sayles Funds Trusts, 0.0500% of the next $15 billion, 0.0400% of the next $30 billion, 0.0350% of the next $30 billion and 0.0325% of such assets in excess of $90 billion, subject to an annual aggregate minimum fee for the Natixis Funds Trusts and Loomis Sayles Funds Trusts of $10 million, which is reevaluated on an annual basis.

For the period ended July 31, 2017, the administrative fees for each Fund were as follows:

Fund	Administrative Fees Paid to NGAM Advisors
Sustainable Future 2015 Fund	$	763
Sustainable Future 2020 Fund		771
Sustainable Future 2025 Fund		580
Sustainable Future 2030 Fund		482
Sustainable Future 2035 Fund		487
Sustainable Future 2040 Fund		489
Sustainable Future 2045 Fund		392
Sustainable Future 2050 Fund		392
Sustainable Future 2055 Fund		392
Sustainable Future 2060 Fund		392

d.  Trustees Fees and Expenses.  The Trusts do not pay any compensation directly to their officers or Trustees who are directors, officers or employees of NGAM Advisors, NGAM Distribution, Natixis US or their affiliates. The Chairperson of the Board of Trustees receives a retainer fee at the annual rate of $325,000. 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 $155,000. 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, the chairperson of the Contract Review Committee and the chairperson of the Audit Committee each receive an additional retainer fee at the annual rate of $17,500. The chairperson of the Governance Committee receives an additional retainer fee at the annual rate of $10,000. Each Contract Review Committee member is compensated $6,000 for each Committee meeting that he or she attends in person and $3,000 for each meeting that he or she attends telephonically. Each Audit Committee member is compensated $6,000 for each Committee meeting that he or she attends in person and $3,000 for each meeting that he or she attends telephonically. These fees are allocated among the funds in the Natixis Funds Trusts and Loomis Sayles Funds Trusts based on a formula that takes into account, among other factors, the relative net assets of each fund. Trustees are reimbursed for travel expenses in connection with attendance at meetings.

A deferred compensation plan (the “Plan”) is available to the Trustees on a voluntary basis. Deferred amounts remain in the Funds until distributed in accordance with the provisions of the Plan. The value of a participating Trustee’s deferral account is based on theoretical investments of deferred amounts, on the normal payment dates, in certain funds of the Natixis Funds Trusts and Loomis Sayles Funds Trusts as designated by the participating Trustees. Changes in the value of participants’ deferral accounts are allocated pro rata among the funds in the Natixis Funds Trusts and Loomis Sayles Funds Trusts, and are normally reflected as Trustees’ fees and expenses in the Statements of Operations. The portions of the accrued obligations allocated to the Funds under the Plan are reflected as Deferred Trustees’ fees in the Statements of Assets and Liabilities.

e.  Affiliated Ownership.  As of July 31, 2017, Natixis US held shares of the Sustainable Future Funds representing 100% of each of the Funds’ net assets. Investment activities of affiliated shareholders could have material impacts on the Funds.

|  106

Notes to Financial Statements (continued)

July 31, 2017 (Unaudited)

f.  Affiliated Fund Transactions.  A summary of affiliated fund transactions for each underlying fund held by the Funds’ for the period ended July 31, 2017, is as follows:

Sustainable Future 2015 Fund

Fund	Beginning Value		Purchase Cost(1)		Sales Proceeds		Realized Gain (Loss)			Change in Unrealized Gain (Loss)			Ending Value		Distribution Received(2)
Loomis Sayles Inflation Protected Securities Fund, Class N	$	—	$	384,346	$	437	$	—		$	(3,195	)	$	380,714	$	4,458
Loomis Sayles Limited Term Government and Agency Fund, Class N		—		507,876		1,383		(4	)		(466	)		506,023		4,017
Mirova Global Green Bond Fund, Class N		—		1,173,388		1,427		6			11,252			1,183,219		—
	$	—	$	2,065,610	$	3,247	$	2		$	7,591		$	2,069,956	$	8,475

⁽¹) Purchase cost includes dividend reinvested, if any.

⁽²⁾  Distributions received includes distributions from net investment income and from capital gains, if any.

Sustainable Future 2020 Fund

Fund	Beginning Value		Purchase Cost(1)		Sales Proceeds		Realized Gain (Loss)			Change in Unrealized Gain (Loss)			Ending Value		Distribution Received(2)
Loomis Sayles Inflation Protected Securities Fund, Class N	$	—	$	257,728	$	301	$	—		$	(2,138	)	$	255,289	$	2,983
Loomis Sayles Limited Term Government and Agency Fund, Class N		—		468,140		1,252		(3	)		(431	)		466,454		3,690
Mirova Global Green Bond Fund, Class N		—		1,053,692		1,315		6			10,042			1,062,425		—
	$	—	$	1,779,560	$	2,868	$	3		$	7,473		$	1,784,168	$	6,673

⁽¹) Purchase cost includes dividend reinvested, if any.

⁽²⁾  Distributions received includes distributions from net investment income and from capital gains, if any.

Sustainable Future 2025 Fund

Fund	Beginning Value		Purchase Cost(1)		Sales Proceeds		Realized Gain (Loss)			Change in Unrealized Gain (Loss)			Ending Value		Distribution Received(2)
Loomis Sayles Inflation Protected Securities Fund, Class N	$	—	$	162,470	$	181	$	—		$	(1,343	)	$	160,946	$	1,874
Loomis Sayles Limited Term Government and Agency Fund, Class N		—		289,895		1,033		(3	)		(269	)		288,590		2,272
Mirova Global Green Bond Fund, Class N		—		669,656		770		3			6,345			675,234		—
	$	—	$	1,122,021	$	1,984	$	—		$	4,733		$	1,124,770	$	4,146

⁽¹) Purchase cost includes dividend reinvested, if any.

⁽²⁾  Distributions received includes distributions from net investment income and from capital gains, if any.

107  |

Notes to Financial Statements (continued)

July 31, 2017 (Unaudited)

Sustainable Future 2030 Fund

Fund	Beginning Value		Purchase Cost(1)		Sales Proceeds		Realized Gain (Loss)			Change in Unrealized Gain (Loss)			Ending Value		Distribution Received(2)
Loomis Sayles Inflation Protected Securities Fund, Class N	$	—	$	136,941	$	158	$	—		$	(1,125	)	$	135,658	$	1,571
Loomis Sayles Limited Term Government and Agency Fund, Class N		—		163,135		714		(2	)		(152	)		162,267		1,270
Mirova Global Green Bond Fund, Class N		—		403,327		480		2			3,800			406,649		—
	$	—	$	703,403	$	1,352	$	—		$	2,523		$	704,574	$	2,841

⁽¹) Purchase cost includes dividend reinvested, if any.

⁽²⁾  Distributions received includes distributions from net investment income and from capital gains, if any.

Sustainable Future 2035 Fund

Fund	Beginning Value		Purchase Cost(1)		Sales Proceeds		Realized Gain (Loss)			Change in Unrealized Gain (Loss)			Ending Value		Distribution Received(2)
Loomis Sayles Inflation Protected Securities Fund, Class N	$	—	$	110,378	$	134	$	—		$	(905	)	$	109,339	$	1,263
Loomis Sayles Limited Term Government and Agency Fund, Class N		—		109,569		496		(1	)		(103	)		108,969		848
Mirova Global Green Bond Fund, Class N		—		270,989		337		1			2,527			273,180		—
	$	—	$	490,936	$	967	$	—		$	1,519		$	491,488	$	2,111

⁽¹) Purchase cost includes dividend reinvested, if any.

⁽²⁾  Distributions received includes distributions from net investment income and from capital gains, if any.

Sustainable Future 2040 Fund

Fund	Beginning Value		Purchase Cost(1)		Sales Proceeds		Realized Gain (Loss)			Change in Unrealized Gain (Loss)			Ending Value		Distribution Received(2)
Loomis Sayles Inflation Protected Securities Fund, Class N	$	—	$	110,924	$	140	$	—		$	(908	)	$	109,876	$	1,267
Loomis Sayles Limited Term Government and Agency Fund, Class N		—		55,132		311		(1	)		(52	)		54,768		425
Mirova Global Green Bond Fund, Class N		—		163,390		208		1			1,516			164,699		—
	$	—	$	329,446	$	659	$	—		$	556		$	329,343	$	1,692

⁽¹) Purchase cost includes dividend reinvested, if any.

⁽²⁾  Distributions received includes distributions from net investment income and from capital gains, if any.

Sustainable Future 2045 Fund

Fund	Beginning Value		Purchase Cost(1)		Sales Proceeds		Realized Gain (Loss)			Change in Unrealized Gain (Loss)			Ending Value		Distribution Received(2)
Loomis Sayles Inflation Protected Securities Fund, Class N	$	—	$	44,787	$	56	$	—		$	(365	)	$	44,366	$	510
Loomis Sayles Limited Term Government and Agency Fund, Class N		—		44,477		218		(1	)		(43	)		44,215		341
Mirova Global Green Bond Fund, Class N		—		87,959		112		—			814			88,661		—
	$	—	$	177,223	$	386	$	(1	)	$	406		$	177,242	$	851

⁽¹) Purchase cost includes dividend reinvested, if any.

⁽²⁾  Distributions received includes distributions from net investment income and from capital gains, if any.

|  108

Notes to Financial Statements (continued)

July 31, 2017 (Unaudited)

Sustainable Future 2050 Fund

Fund	Beginning Value		Purchase Cost(1)		Sales Proceeds		Realized Gain (Loss)		Change in Unrealized Gain (Loss)			Ending Value		Distribution Received(2)
Loomis Sayles Inflation Protected Securities Fund, Class N	$	—	$	44,924	$	57	$	—	$	(366	)	$	44,501	$	510
Loomis Sayles Limited Term Government and Agency Fund, Class N		—		22,353		150		—		(21	)		22,182		171
Mirova Global Green Bond Fund, Class N		—		66,180		84		—		609			66,705		—
	$	—	$	133,457	$	291	$	—	$	222		$	133,388	$	681

⁽¹) Purchase cost includes dividend reinvested, if any.

⁽²⁾  Distributions received includes distributions from net investment income and from capital gains, if any.

Sustainable Future 2055 Fund

Fund	Beginning Value		Purchase Cost(1)		Sales Proceeds		Realized Gain (Loss)		Change in Unrealized Gain (Loss)			Ending Value		Distribution Received(2)
Loomis Sayles Inflation Protected Securities Fund, Class N	$	—	$	44,940	$	57	$	—	$	(365	)	$	44,518	$	511
Loomis Sayles Limited Term Government and Agency Fund, Class N		—		22,361		149		—		(22	)		22,190		171
Mirova Global Green Bond Fund, Class N		—		66,200		84		—		614			66,730		—
	$	—	$	133,501	$	290	$	—	$	227		$	133,438	$	682

⁽¹) Purchase cost includes dividend reinvested, if any.

⁽²⁾  Distributions received includes distributions from net investment income and from capital gains, if any.

Sustainable Future 2060 Fund

Fund	Beginning Value		Purchase Cost(1)		Sales Proceeds		Realized Gain (Loss)		Change in Unrealized Gain (Loss)			Ending Value		Distribution Received(2)
Loomis Sayles Inflation Protected Securities Fund, Class N	$	—	$	44,922	$	57	$	—	$	(365	)	$	44,500	$	510
Loomis Sayles Limited Term Government and Agency Fund, Class N		—		22,352		149		—		(22	)		22,181		171
Mirova Global Green Bond Fund, Class N		—		66,177		84		—		610			66,703		—
	$	—	$	133,451	$	290	$	—	$	223		$	133,384	$	681

⁽¹) Purchase cost includes dividend reinvested, if any.

⁽²⁾  Distributions received includes distributions from net investment income and from capital gains, if any.

g.  Acquired Fund Fees and Expenses.  Each Fund will indirectly realize its pro rata share of the fees and expenses of the underlying funds in which it invests. These fees and expenses are already reflected in the valuation of the underlying funds.

6.  Line of Credit.  Each Fund, together with certain other funds of Natixis Funds Trusts and Loomis Sayles Funds Trusts, entered into a 364-day, $400,000,000 syndicated, committed, unsecured line of credit with Citibank, N.A. to be used for temporary or emergency purposes only. Any one Fund may borrow up to the full $400,000,000 under the line of credit (as long as all borrowings by all Funds in the aggregate do not exceed the $400,000,000 limit at any time) subject to each Fund’s investment restrictions. Interest is charged to the Funds at a rate equal to the greater of the eurodollar or the federal funds rate plus 1.00%. In addition, a commitment fee of 0.15% per annum, payable on the last business day of each month, is accrued and apportioned among the participating funds based on their average daily unused portion of the line of credit. The Funds paid an arrangement fee, an upfront fee, and other fees in connection with the new line of credit agreement, which are being amortized over a period of 364 days and are reflected as miscellaneous expenses on the Statements of Operations. The unamortized balance is reflected as prepaid expenses on the Statements of Assets and Liabilities.

For the period ended July 31, 2017, none of the Funds had borrowings under these agreements.

109  |

Notes to Financial Statements (continued)

July 31, 2017 (Unaudited)

7.  Capital Shares.  Each Fund may issue an unlimited number of shares of beneficial interest, without par value. Transactions in capital shares were as follows:

Sustainable Future 2015 Fund

	Period Ended July 31, 2017(a)
Class N
Issued from the sale of shares	400,000	$	4,000,000
Increase from capital share transactions	400,000	$	4,000,000

(a) From commencement of operations on February 28, 2017 through July 31, 2017.

Sustainable Future 2020 Fund

	Period Ended July 31, 2017(a)
Class N
Issued from the sale of shares	400,000	$	4,000,000
Increase from capital share transactions	400,000	$	4,000,000

(a) From commencement of operations on February 28, 2017 through July 31, 2017.

Sustainable Future 2025 Fund

	Period Ended July 31, 2017(a)
Class N
Issued from the sale of shares	300,000	$	3,000,000
Increase from capital share transactions	300,000	$	3,000,000

(a) From commencement of operations on February 28, 2017 through July 31, 2017.

Sustainable Future 2030 Fund

	Period Ended July 31, 2017(a)
Class N
Issued from the sale of shares	250,000	$	2,500,000
Increase from capital share transactions	250,000	$	2,500,000

(a) From commencement of operations on February 28, 2017 through July 31, 2017.

Sustainable Future 2035 Fund

	Period Ended July 31, 2017(a)
Class N
Issued from the sale of shares	250,000	$	2,500,000
Increase from capital share transactions	250,000	$	2,500,000

(a) From commencement of operations on February 28, 2017 through July 31, 2017.

Sustainable Future 2040 Fund

	Period Ended July 31, 2017(a)
Class N
Issued from the sale of shares	250,000	$	2,500,000
Increase from capital share transactions	250,000	$	2,500,000

(a) From commencement of operations on February 28, 2017 through July 31, 2017.

|  110

Notes to Financial Statements (continued)

July 31, 2017 (Unaudited)

Sustainable Future 2045 Fund

	Period Ended July 31, 2017(a)
Class N
Issued from the sale of shares	200,000	$	2,000,000
Increase from capital share transactions	200,000	$	2,000,000

(a) From commencement of operations on February 28, 2017 through July 31, 2017.

Sustainable Future 2050 Fund

	Period Ended July 31, 2017(a)
Class N
Issued from the sale of shares	200,000	$	2,000,000
Increase from capital share transactions	200,000	$	2,000,000

(a) From commencement of operations on February 28, 2017 through July 31, 2017.

Sustainable Future 2055 Fund

	Period Ended July 31, 2017(a)
Class N
Issued from the sale of shares	200,000	$	2,000,000
Increase from capital share transactions	200,000	$	2,000,000

(a) From commencement of operations on February 28, 2017 through July 31, 2017.

Sustainable Future 2060 Fund

	Period Ended July 31, 2017(a)
Class N
Issued from the sale of shares	200,000	$	2,000,000
Increase from capital share transactions	200,000	$	2,000,000

(a) From commencement of operations on February 28, 2017 through July 31, 2017.

111  |

NATIXIS FUNDS

Supplement dated June 30, 2017 to the Natixis Funds Summary Prospectuses, dated February 28, 2017, as may be revised or supplemented from time to time, for the following funds:

Natixis Sustainable Future 2015 Fund	Natixis Sustainable Future 2040 Fund
Natixis Sustainable Future 2020 Fund	Natixis Sustainable Future 2045 Fund
Natixis Sustainable Future 2025 Fund	Natixis Sustainable Future 2050 Fund
Natixis Sustainable Future 2030 Fund	Natixis Sustainable Future 2055 Fund
Natixis Sustainable Future 2035 Fund	Natixis Sustainable Future 2060 Fund

Effective July 1, 2017, the information under sub-section “Class Y Shares” in the section “Purchase and Sale of Fund Shares” in each Fund’s Summary is hereby amended and restated as follows:

Class Y shares are not currently available for purchase.

Class Y shares of the Fund are generally subject to a minimum initial investment of $100,000 and a minimum subsequent investment of $50, except there is no minimum initial or subsequent investment for:

• Wrap Fee Programs of certain broker-dealers, the advisers or NGAM Distribution, L.P. Please consult your financial representative to determine if your wrap fee program is subject to additional or different conditions or fees.

• Certain Retirement Plans. Please consult your retirement plan administrator to determine if your retirement plan is subject to additional or different conditions or fees.

• Certain Individual Retirement Accounts if the amounts invested represent rollover distributions from investments by any of the retirement plans invested in the Fund.

• Clients of a Registered Investment Adviser where the Registered Investment Adviser receives an advisory, management or consulting fee.

• Fund Trustees, former Fund trustees, employees of affiliates of the Natixis Funds and other individuals who are affiliated with any Natixis Fund (this also applies to any spouse, parents, children, siblings, grandparents, grandchildren and in-laws of those mentioned) and Natixis affiliate employee benefit plans.

At the discretion of NGAM Advisors, clients of NGAM Advisors and its affiliates may purchase Class Y shares of the Fund below the stated minimums.

This is not part of shareholder report

Item 2. Code of Ethics.

Not applicable.

Item 3. Audit Committee Financial Expert.

Not applicable.

Item 4. Principal Accountant Fees and Services.

Not applicable.

Item 5. Audit Committee of Listed Registrants.

Not applicable.

Item 6. Schedule of Investments.

Included as part of the Report to Shareholders filed as Item 1 herewith.

Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.

Not applicable.

Item 8. Portfolio Managers of Closed-End Management Investment Companies.

Not applicable.

Item 9. Purchases of Equity Securities by Closed-End Management Investment Companies and Affiliated Purchasers.

Not applicable.

Item 10. Submission of Matters to a Vote of Securities Holders.

There were no material changes to the procedures by which shareholders may recommend nominees to the Registrant’s Board of Trustees.

Item 11. Controls and Procedures.

The Registrant’s principal executive officer and principal financial officer have concluded that the Registrant’s disclosure controls and procedures are sufficient to ensure that information required to be disclosed by the Registrant in this Form N-CSR was recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission’s rules and forms, based upon such officers’ evaluation of these controls and procedures as of a date within 90 days of the filing date of the report.

There were no changes in the Registrant’s internal control over financial reporting that occurred during the Registrant’s last fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the Registrant’s internal control over financial reporting.

Item 12. Exhibits.

(a)	(1)	Not applicable.
(a)	(2)	Certifications of Principal Executive Officer and Principal Financial Officer pursuant to 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)), are filed herewith as Exhibits (a)(2)(1) and (a)(2)(2), respectively.
(a)	(3)	Not applicable.
(b)		Certifications of Principal Executive Officer and Principal Financial Officer pursuant to Section 906 of Sarbanes-Oxley Act of 2002 are filed herewith as Exhibit (b).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Natixis Funds Trust IV
By:	/s/ David L. Giunta
Name:	David L. Giunta
Title:	President and Chief Executive Officer
Date:	September 21, 2017

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By:	/s/ David L. Giunta
Name:	David L. Giunta
Title:	President and Chief Executive Officer
Date:	September 21, 2017

By:	/s/ Michael C. Kardok
Name:	Michael C. Kardok
Title:	Treasurer
Date:	September 21, 2017