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.

Natixis 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, 2018

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, 2018

AEW Real Estate Fund

Table of Contents

Portfolio Review	1
Portfolio of Investments	10
Financial Statements	13
Notes to Financial Statements	20

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, 2018³

													Life of			Expense Ratios4
	6 Months			1 Year			5 Years			10 Years			Class N			Gross			Net
Class Y (Inception 8/31/00)
NAV		5.71	%		2.74	%		7.86	%		7.52	%		—	%		1.18	%		1.00	%
Class A (Inception 12/29/00)
NAV		5.60			2.49			7.59			7.26			—			1.43			1.25
With 5.75% Maximum Sales Charge		-0.45			-3.41			6.32			6.63			—
Class C (Inception 12/29/00)
NAV		5.10			1.67			6.78			6.46			—			2.18			2.00
With CDSC1		4.10			0.74			6.78			6.46			—
Class N (Inception 5/01/13)
NAV		5.72			2.86			7.99			—			6.25			1.01			0.95
Comparative Performance
MSCI U.S. REIT Index2		6.36			3.00			8.24			7.69			6.51

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 im.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 Investment Managers or any of its related or affiliated companies (collectively “Natixis Affiliates”) and does not sponsor, endorse or participate in the provision of any Natixis Affiliates 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 the Natixis Funds’ website at im.natixis.com; and on the Securities and Exchange Commission’s (“SEC’s”) website at www.sec.gov. Information regarding how the Natixis Funds voted proxies relating to portfolio securities during the most recent 12-month period ended June 30 is available from the Natixis Funds’ 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 Form 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, DC. 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, 2018 through July 31, 2018. 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 2/1/2018		ENDING ACCOUNT VALUE 7/31/2018		EXPENSES PAID DURING PERIOD* 2/1/2018 – 7/31/2018
Class A
Actual		$1,000.00		$1,056.00		$6.37
Hypothetical (5% return before expenses)		$1,000.00		$1,018.60		$6.26
Class C
Actual		$1,000.00		$1,051.00		$10.17
Hypothetical (5% return before expenses)		$1,000.00		$1,014.88		$9.99
Class N
Actual		$1,000.00		$1,057.20		$4.85
Hypothetical (5% return before expenses)		$1,000.00		$1,020.08		$4.76
Class Y
Actual		$1,000.00		$1,057.10		$5.10
Hypothetical (5% return before expenses)		$1,000.00		$1,019.84		$5.01

* Expenses are equal to the Fund’s annualized expense ratio (after waiver/reimbursement): 1.25%, 2.00%, 0.95% and 1.00% 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 benchmark, (ii) information on the Fund’s advisory fee and other expenses, including information comparing the Fund’s advisory fee 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, to the extent applicable, the use of “soft” commission dollars 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 expense differentials against the Fund’s peer group/category, performance 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

|  6

Board, and if the Fund is identified as presenting possible performance concerns it may be subject to more frequent Board or Committee 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 for a one-year period at its meeting held in June 2018. 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 Natixis Advisors, L.P. (“Natixis Advisors”). They also considered the administrative and shareholder services provided by Natixis 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 reviewed data prepared by an independent third party that analyzed the performance of the Fund using a variety of performance metrics, including metrics that measured the performance of the Fund on a risk adjusted basis.

The Board noted that through December 31, 2017, the Fund’s one-, three- and five-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			Five-Year
AEW Real Estate Fund		77	%		64	%		56	%

The Board noted that the Fund’s performance lagged that of the Fund’s category group median as determined by the independent third-party. The Board concluded that other factors relevant to performance supported renewal of the Agreements, including that: (1) 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

7  |

consistent with the Fund’s investment objective and policies; and (2) the Fund’s net expense ratio was below the median for a peer group of funds.

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 and administrative services as well as the total expense level of the Fund. This information included comparisons (provided both by management and 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 under its cap. The Trustees also noted that the Fund’s total advisory fee rate was below the median of a peer group of funds.

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, whether the Adviser had implemented breakpoints and/or expense caps with respect to the Fund and the overall profit margin of Natixis Investment Managers compared to that of certain other investment managers for which such data was available.

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

|  8

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 caps. The Trustees also discussed with management the factors considered with respect to the implementation of breakpoints in investment advisory fees or expense 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, which had been reduced last year. 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.

· So-called “fallout benefits” to the Adviser, such as the engagement of affiliates of the Adviser to provide distribution and administrative 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 Natixis 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 should be continued through June 30, 2019.

9  |

Portfolio of Investments – as of July 31, 2018 (Unaudited)

AEW Real Estate Fund

Shares		Description	Value (†)
	Common Stocks — 98.0% of Net Assets
	Lodging — 1.5%
	97,500	Extended Stay America, Inc.	$	2,075,775
	Real Estate Investment Trusts — 96.5%
		REITs – Apartments — 16.2%
	89,600	American Campus Communities, Inc.		3,696,000
	144,900	American Homes 4 Rent, Class A		3,208,086
	42,000	AvalonBay Communities, Inc.		7,427,700
	19,700	Camden Property Trust		1,824,023
	94,100	Equity Residential		6,156,963
				22,312,772
		REITs – Diversified — 12.7%
	77,100	American Assets Trust, Inc.		2,962,953
	42,400	CyrusOne, Inc.		2,625,408
	53,500	Digital Realty Trust, Inc.		6,495,970
	3,200	Equinix, Inc.		1,405,696
	63,000	Forest City Realty Trust, Inc., Class A		1,573,110
	12,700	Vornado Realty Trust		913,384
	47,500	Washington Real Estate Investment Trust		1,448,275
				17,424,796
		REITs – Health Care — 10.5%
	189,100	HCP, Inc.		4,897,690
	120,800	Healthcare Trust of America, Inc., Class A		3,300,256
	99,400	Welltower, Inc.		6,222,440
				14,420,386
		REITs – Hotels — 5.3%
	242,500	Host Hotels & Resorts, Inc.		5,077,950
	96,600	RLJ Lodging Trust		2,182,194
				7,260,144
		REITs – Manufactured Homes — 1.8%
	27,200	Equity Lifestyle Properties, Inc.		2,474,928
		REITs – Office Property — 10.4%
	56,200	Boston Properties, Inc.		7,054,786
	49,900	Douglas Emmett, Inc.		1,938,116
	129,500	Empire State Realty Trust, Inc., Class A		2,158,765
	161,800	Piedmont Office Realty Trust, Inc., Class A		3,200,404
				14,352,071
		REITs – Regional Malls — 11.9%
	135,000	Pennsylvania Real Estate Investment Trust		1,433,700
	68,800	Simon Property Group, Inc.		12,123,248
	42,900	Tanger Factory Outlet Centers, Inc.		1,023,165
	28,100	Taubman Centers, Inc.		1,743,605
				16,323,718

See accompanying notes to financial statements.

|  10

Portfolio of Investments – as of July 31, 2018 (Unaudited)

AEW Real Estate Fund – (continued)

Shares		Description	Value (†)
		REITs – Shopping Centers — 5.8%
	63,800	Acadia Realty Trust	$	1,727,704
	24,400	Federal Realty Investment Trust		3,062,200
	254,700	Retail Properties of America, Inc., Class A		3,196,485
				7,986,389
		REITs – Single Tenant — 4.8%
	77,588	Easterly Government Properties, Inc.		1,470,292
	23,200	National Retail Properties, Inc.		1,034,952
	78,700	STORE Capital Corp.		2,160,315
	92,900	VICI Properties, Inc.		1,890,515
				6,556,074
		REITs – Storage — 6.5%
	121,100	CubeSmart		3,676,596
	24,200	Public Storage		5,271,486
				8,948,082
		REITs – Warehouse/Industrials — 10.6%
	159,800	Duke Realty Corp.		4,653,376
	87,400	ProLogis, Inc.		5,735,188
	135,000	Rexford Industrial Realty, Inc.		4,136,400
				14,524,964
		Total Real Estate Investment Trusts		132,584,324
		Total Common Stocks (Identified Cost $115,590,626)		134,660,099
Principal Amount
	Short-Term Investments — 2.1%
$	2,921,222	Tri-Party Repurchase Agreement with Fixed Income Clearing Corporation, dated 7/31/2018 at 1.100% to be repurchased at $2,921,311 on 8/01/2018 collateralized by $3,080,000 U.S. Treasury Note, 2.250% due 10/31/2024 valued at $2,980,544 including accrued interest (Note 2 of Notes to Financial Statements) (Identified Cost $2,921,222)		2,921,222
		Total Investments — 100.1% (Identified Cost $118,511,848)		137,581,321
		Other Assets Less Liabilities — (0.1)%		(108,990	)
		Net Assets — 100.0%	$	137,472,331
	(†)	See Note 2 of Notes to Financial Statements.
	REITs	Real Estate Investment Trusts

See accompanying notes to financial statements.

11  |

Portfolio of Investments – as of July 31, 2018 (Unaudited)

AEW Real Estate Fund – (continued)

Industry Summary at July 31, 2018 (Unaudited)

REITs – Apartments	16.2	%
REITs – Diversified	12.7
REITs – Regional Malls	11.9
REITs – Warehouse/Industrials	10.6
REITs – Health Care	10.5
REITs – Office Property	10.4
REITs – Storage	6.5
REITs – Shopping Centers	5.8
REITs – Hotels	5.3
REITs – Single Tenant	4.8
Other Investments, less than 2% each	3.3
Short-Term Investments	2.1
Total Investments	100.1
Other assets less liabilities	(0.1	)
Net Assets	100.0	%

See accompanying notes to financial statements.

|  12

Statement of Assets and Liabilities

July 31, 2018 (Unaudited)

ASSETS
Investments at cost	$	118,511,848
Net unrealized appreciation		19,069,473
Investments at value		137,581,321
Receivable for Fund shares sold		67,256
Receivable for securities sold		345,728
Dividends and interest receivable		27,242
Prepaid expenses (Note 7)		172
TOTAL ASSETS		138,021,719
LIABILITIES
Payable for securities purchased		110,672
Payable for Fund shares redeemed		155,758
Management fees payable (Note 5)		72,911
Deferred Trustees’ fees (Note 5)		120,257
Administrative fees payable (Note 5)		4,551
Payable to distributor (Note 5d)		3,377
Other accounts payable and accrued expenses		81,862
TOTAL LIABILITIES		549,388
NET ASSETS	$	137,472,331
NET ASSETS CONSIST OF:
Paid-in capital	$	116,658,216
Undistributed net investment income		148,687
Accumulated net realized gain on investments		1,595,955
Net unrealized appreciation on investments		19,069,473
NET ASSETS	$	137,472,331
COMPUTATION OF NET ASSET VALUE AND OFFERING PRICE:
Class A shares:
Net assets	$	42,838,777
Shares of beneficial interest		2,885,128
Net asset value and redemption price per share	$	14.85
Offering price per share (100/94.25 of net asset value) (Note 1)	$	15.76
Class C shares: (redemption price per share is equal to net asset value less any applicable contingent deferred sales charge) (Note 1)
Net assets	$	2,099,055
Shares of beneficial interest		140,652
Net asset value and offering price per share	$	14.92
Class N shares:
Net assets	$	6,995,071
Shares of beneficial interest		506,303
Net asset value, offering and redemption price per share	$	13.82
Class Y shares:
Net assets	$	85,539,428
Shares of beneficial interest		6,206,211
Net asset value, offering and redemption price per share	$	13.78

See accompanying notes to financial statements.

13  |

Statement of Operations

For the Six Months Ended July 31, 2018 (Unaudited)

INVESTMENT INCOME
Dividends	$	1,984,611
Interest		6,163
		1,990,774
Expenses
Management fees (Note 5)		527,223
Service and distribution fees (Note 5)		66,270
Administrative fees (Note 5)		29,106
Trustees’ fees and expenses (Note 5)		10,660
Transfer agent fees and expenses (Notes 5 and 6)		122,134
Audit and tax services fees		32,519
Custodian fees and expenses		6,018
Legal fees		1,420
Registration fees		30,047
Shareholder reporting expenses		19,738
Miscellaneous expenses (Note 7)		8,636
Total expenses		853,771
Less waiver and/or expense reimbursement (Note 5)		(130,128	)
Net expenses		723,643
Net investment income		1,267,131
NET REALIZED AND UNREALIZED GAIN ON INVESTMENTS
Net realized gain on:
Investments		1,678,823
Capital gain distributions received (Note 2)		361,151
Net change in unrealized appreciation (depreciation) on:
Investments		3,784,441
Net realized and unrealized gain on investments		5,824,415
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS	$	7,091,546

See accompanying notes to financial statements.

|  14

Statement of Changes in Net Assets

	Six Months Ended July 31, 2018 (Unaudited)			Year Ended January 31, 2018
FROM OPERATIONS:
Net investment income	$	1,267,131		$	2,699,773
Net realized gain on investments		2,039,974			13,327,936
Net change in unrealized appreciation (depreciation) on investments		3,784,441			(14,046,604	)
Net increase in net assets resulting from operations		7,091,546			1,981,105
FROM DISTRIBUTIONS TO SHAREHOLDERS:
Net investment income
Class A		(255,349	)		(697,329	)
Class C		(1,863	)		(29,573	)
Class N		(57,632	)		(120,699	)
Class Y		(687,136	)		(1,762,836	)
Net realized capital gains
Class A		(859,996	)		(3,636,324	)
Class C		(93,504	)		(399,110	)
Class N		(159,936	)		(547,685	)
Class Y		(2,004,139	)		(8,277,844	)
Total distributions		(4,119,555	)		(15,471,400	)
NET DECREASE IN NET ASSETS FROM CAPITAL SHARE TRANSACTIONS (NOTE 11)		(6,979,877	)		(42,959,492	)
Net decrease in net assets		(4,007,886	)		(56,449,787	)
NET ASSETS
Beginning of the period		141,480,217			197,930,004
End of the period	$	137,472,331		$	141,480,217
UNDISTRIBUTED (DISTRIBUTIONS IN EXCESS OF) NET INVESTMENT INCOME	$	148,687		$	(116,464	)

See accompanying notes to financial statements.

15  |

Financial Highlights

For a share outstanding throughout each period.

	Class A
	Six Months Ended July 31, 2018 (Unaudited)			Year Ended January 31, 2018			Year Ended January 31, 2017			Year Ended January 31, 2016			Year Ended January 31, 2015			Year Ended January 31, 2014
Net asset value, beginning of the period	$	14.49		$	15.84		$	15.93		$	18.51		$	15.20		$	19.20
INCOME (LOSS) FROM INVESTMENT OPERATIONS:
Net investment income(a)		0.12			0.24			0.18			0.22			0.20			0.19
Net realized and unrealized gain (loss)		0.64			(0.14	)		1.33			(1.33	)		4.57			0.06
Total from Investment Operations		0.76			0.10			1.51			(1.11	)		4.77			0.25
LESS DISTRIBUTIONS FROM:
Net investment income		(0.09	)		(0.22	)		(0.22	)		(0.18	)		(0.20	)		(0.25	)
Net realized capital gains		(0.31	)		(1.23	)		(1.38	)		(1.29	)		(1.26	)		(4.00	)
Total Distributions		(0.40	)		(1.45	)		(1.60	)		(1.47	)		(1.46	)		(4.25	)
Net asset value, end of the period	$	14.85		$	14.49		$	15.84		$	15.93		$	18.51		$	15.20
Total return(b)		5.60	%(c)(d)		0.49	%(d)		9.51	%(d)		(6.21	)%(d)		32.94	%		1.96	%
RATIOS TO AVERAGE NET ASSETS:
Net assets, end of the period (000’s)	$	42,839		$	41,189		$	58,312		$	56,344		$	77,842		$	68,470
Net expenses		1.25	%(e)(f)		1.29	%(f)(g)		1.35	%(f)		1.36	%(f)(h)		1.40	%(i)		1.36	%
Gross expenses		1.46	%(e)		1.43	%		1.38	%		1.38	%		1.40	%		1.36	%
Net investment income		1.77	%(e)		1.49	%		1.06	%		1.31	%		1.23	%		1.00	%
Portfolio turnover rate		8	%		11	%		13	%		17	%		18	%		17	%

(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.

|  16

Financial Highlights (continued)

For a share outstanding throughout each period.

	Class C
	Six Months Ended July 31, 2018 (Unaudited)			Year Ended January 31, 2018			Year Ended January 31, 2017			Year Ended January 31, 2016			Year Ended January 31, 2015			Year Ended January 31, 2014
Net asset value, beginning of the period	$	14.54		$	15.87		$	15.95		$	18.55		$	15.23		$	19.23
INCOME (LOSS) FROM INVESTMENT OPERATIONS:
Net investment income(a)		0.07			0.11			0.06			0.09			0.08			0.05
Net realized and unrealized gain (loss)		0.63			(0.12	)		1.33			(1.33	)		4.58			0.05
Total from Investment Operations		0.70			(0.01	)		1.39			(1.24	)		4.66			0.10
LESS DISTRIBUTIONS FROM:
Net investment income		(0.01	)		(0.09	)		(0.09	)		(0.07	)		(0.08	)		(0.10	)
Net realized capital gains		(0.31	)		(1.23	)		(1.38	)		(1.29	)		(1.26	)		(4.00	)
Total Distributions		(0.32	)		(1.32	)		(1.47	)		(1.36	)		(1.34	)		(4.10	)
Net asset value, end of the period	$	14.92		$	14.54		$	15.87		$	15.95		$	18.55		$	15.23
Total return(b)		5.10	%(c)(d)		(0.21	)%(d)		8.67	%(d)		(6.87	)%(d)		31.95	%		1.14	%
RATIOS TO AVERAGE NET ASSETS:
Net assets, end of the period (000’s)	$	2,099		$	4,472		$	7,307		$	7,869		$	10,432		$	8,982
Net expenses		2.00	%(e)(f)		2.05	%(f)(g)		2.10	%(f)		2.11	%(f)(h)		2.15	%(i)		2.11	%
Gross expenses		2.20	%(e)		2.18	%		2.13	%		2.13	%		2.15	%		2.11	%
Net investment income		0.97	%(e)		0.71	%		0.34	%		0.55	%		0.48	%		0.27	%
Portfolio turnover rate		8	%		11	%		13	%		17	%		18	%		17	%

(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.

17  |

Financial Highlights (continued)

For a share outstanding throughout each period.

	Class N
	Six Months Ended July 31, 2018 (Unaudited)			Year Ended January 31, 2018			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	$	13.52		$	14.87		$	15.05		$	17.57		$	14.48		$	19.88
INCOME (LOSS) FROM INVESTMENT OPERATIONS:
Net investment income (loss)(a)		0.14			0.26			0.22			(0.17	)(b)		0.25			0.15
Net realized and unrealized gain (loss)		0.58			(0.11	)		1.27			(0.81	)		4.35			(1.64	)
Total from Investment Operations		0.72			0.15			1.49			(0.98	)		4.60			(1.49	)
LESS DISTRIBUTIONS FROM:
Net investment income		(0.11	)		(0.27	)		(0.29	)		(0.25	)		(0.25	)		(0.22	)
Net realized capital gains		(0.31	)		(1.23	)		(1.38	)		(1.29	)		(1.26	)		(3.69	)
Total Distributions		(0.42	)		(1.50	)		(1.67	)		(1.54	)		(1.51	)		(3.91	)
Net asset value, end of the period	$	13.82		$	13.52		$	14.87		$	15.05		$	17.57		$	14.48
Total return		5.72	%(c)(d)		0.88	%(d)		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)	$	6,995		$	6,865		$	6,108		$	4,513		$	1		$	1
Net expenses		0.95	%(e)(f)		0.97	%(f)(g)		0.97	%		0.94	%(f)(h)		0.99	%(f)(i)		1.20	%(e)(f)
Gross expenses		1.01	%(e)		1.01	%		0.97	%		1.01	%		9.79	%		3.14	%(e)
Net investment income (loss)		2.09	%(e)		1.79	%		1.38	%		(1.14	)%(b)		1.60	%		1.14	%(e)
Portfolio turnover rate		8	%		11	%		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) 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 1.05% to 0.95%.

(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.

|  18

Financial Highlights (continued)

For a share outstanding throughout each period.

	Class Y
	Six Months Ended July 31, 2018 (Unaudited)			Year Ended January 31, 2018			Year Ended January 31, 2017			Year Ended January 31, 2016			Year Ended January 31, 2015			Year Ended January 31, 2014
Net asset value, beginning of the period	$	13.48		$	14.84		$	15.01		$	17.54		$	14.48		$	18.50
INCOME (LOSS) FROM INVESTMENT OPERATIONS:
Net investment income(a)		0.13			0.25			0.21			0.25			0.23			0.23
Net realized and unrealized gain (loss)		0.59			(0.12	)		1.27			(1.27	)		4.33			0.05
Total from Investment Operations		0.72			0.13			1.48			(1.02	)		4.56			0.28
LESS DISTRIBUTIONS FROM:
Net investment income		(0.11	)		(0.26	)		(0.27	)		(0.22	)		(0.24	)		(0.30	)
Net realized capital gains		(0.31	)		(1.23	)		(1.38	)		(1.29	)		(1.26	)		(4.00	)
Total Distributions		(0.42	)		(1.49	)		(1.65	)		(1.51	)		(1.50	)		(4.30	)
Net asset value, end of the period	$	13.78		$	13.48		$	14.84		$	15.01		$	17.54		$	14.48
Total return		5.71	%(b)(c)		0.73	%(c)		9.78	%(c)		(5.95	)%(c)		33.21	%		2.22	%
RATIOS TO AVERAGE NET ASSETS:
Net assets, end of the period (000’s)	$	85,539		$	88,954		$	126,203		$	140,022		$	176,555		$	130,415
Net expenses		1.00	%(d)(e)		1.04	%(e)(f)		1.10	%(e)		1.11	%(e)(g)		1.15	%(h)		1.10	%
Gross expenses		1.20	%(d)		1.18	%		1.13	%		1.13	%		1.15	%		1.10	%
Net investment income		2.02	%(d)		1.71	%		1.30	%		1.55	%		1.49	%		1.24	%
Portfolio turnover rate		8	%		11	%		13	%		17	%		18	%		17	%

(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.

19  |

Notes to Financial Statements

July 31, 2018 (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.

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, pay higher Rule 12b-1 fees than Class A shares for ten years (at which point they automatically convert to Class A shares) and may be subject to a contingent deferred sales charge (“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 and Gateway Trust (“Natixis Funds Trusts”), Loomis Sayles Funds I and Loomis Sayles Funds II (“Loomis Sayles Funds Trusts”) and Natixis ETF Trust. 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 that there were no material events that would require disclosure in the Fund’s financial statements.

|  20

Notes to Financial Statements (continued)

July 31, 2018 (Unaudited)

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. 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 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

21  |

Notes to Financial Statements (continued)

July 31, 2018 (Unaudited)

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, 2018 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, 2018 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 understanding of the tax rules and regulations that exist in the countries in which the Fund

|  22

Notes to Financial Statements (continued)

July 31, 2018 (Unaudited)

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. Permanent differences are primarily due to differing treatments for book and tax purposes of items such as distribution re-designations and short-term capital gains distributions from REITs. 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 reported on the Statement of Assets and Liabilities. Temporary differences between book and tax distributable earnings are primarily due to deferred Trustees’ fees and wash sales. Amounts of income and capital gain available to be distributed on a tax basis are determined annually, and at other times during the Fund’s 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.

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, 2018 was as follows:

2018 Distributions Paid From:
Ordinary Income	Long-Term Capital Gains		Total
$2,559,422		$12,911,978		$15,471,400

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.

23  |

Notes to Financial Statements (continued)

July 31, 2018 (Unaudited)

As of July 31, 2018, the cost of investments and unrealized appreciation (depreciation) on a federal tax basis were as follows:

Federal tax cost	$	118,511,848
Gross tax appreciation	$	21,756,879
Gross tax depreciation		(2,687,406	)
Net tax appreciation	$	19,069,473

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, 2018, 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, 2018, the Fund did not loan securities under this agreement.

|  24

Notes to Financial Statements (continued)

July 31, 2018 (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.

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.

The following is a summary of the inputs used to value the Fund’s investments as of July 31, 2018, at value:

Asset Valuation Inputs

Description	Level 1		Level 2		Level 3		Total
Common Stocks(a)	$	134,660,099	$	—	$	—	$	134,660,099
Short-Term Investments		—		2,921,222		—		2,921,222
Total	$	134,660,099	$	2,921,222	$	—	$	137,581,321

(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, 2018, there were no transfers among Levels 1, 2 and 3.

4.  Purchases and Sales of Securities.  For the six months ended July 31, 2018, purchases and sales of securities (excluding short-term investments) were $10,807,577 and $21,399,486, respectively.

25  |

Notes to Financial Statements (continued)

July 31, 2018 (Unaudited)

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 Investment Managers, L.P. (“Natixis”), which is part of Natixis Investment Managers, 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.

For the six months ended July 31, 2018, 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
1.25%		2.00%		0.95%		1.00%

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, 2018, 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
$527,223	$	130,017	$	397,206		0.80	%		0.60	%

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

|  26

Notes to Financial Statements (continued)

July 31, 2018 (Unaudited)

No expenses were recovered during the six months ended July 31, 2018 under the terms of the expense limitation agreement.

b.  Service and Distribution Fees.  Natixis Distribution, L.P. (“Natixis Distribution”), which is a wholly-owned subsidiary of Natixis, has entered into a distribution agreement with the Trust. Pursuant to this agreement, Natixis 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”).

Under the Class A Plan, the Fund pays Natixis 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 Natixis 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 Natixis 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 Natixis 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 Natixis 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 Natixis Distribution in connection with the marketing or sale of Class C shares.

For the six months ended July 31, 2018, the service and distribution fees for the Fund were as follows:

Service Fees			Distribution Fees
Class A	Class C		Class C
$48,422		$4,462		$13,386

c.  Administrative Fees.  Natixis Advisors, L.P. (“Natixis Advisors”) provides certain administrative services for the Fund and contracts with State Street Bank to serve as sub-administrator. Natixis Advisors is a wholly-owned subsidiary of Natixis. Pursuant to an agreement among Natixis Funds Trusts, Loomis Sayles Funds Trusts, Natixis ETF Trust and Natixis Advisors, the Fund pays Natixis 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, Loomis Sayles Funds Trusts and Natixis ETF Trust, 0.0500% of the next $15 billion, 0.0400% of the next $30 billion, 0.0275% of the next $30 billion and 0.0225% of such assets in excess of $90 billion, subject to an annual

27  |

Notes to Financial Statements (continued)

July 31, 2018 (Unaudited)

aggregate minimum fee for the Natixis Funds Trusts, Loomis Sayles Funds Trusts and Natixis ETF Trust of $10 million, which is reevaluated on an annual basis.

Prior to July 1, 2018, each Fund paid Natixis 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, Loomis Sayles Funds Trusts and Natixis ETF Trust, 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, Loomis Sayles Funds Trusts and Natixis ETF Trust of $10 million, which was reevaluated on an annual basis.

For the six months ended July 31, 2018, the administrative fees for the Fund were $29,106.

d.  Sub-Transfer Agent Fees.  Natixis 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 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 Natixis Distribution for all or a portion of the servicing fees paid to these intermediaries. The reimbursement amounts (sub-transfer agent fees) paid to Natixis 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, 2018, the sub-transfer agent fees (which are reflected in transfer agent fees and expenses in the Statement of Operations) for the Fund were $100,917.

As of July 31, 2018, the Fund owes Natixis Distribution $3,377 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 Natixis Distribution during the six months ended July 31, 2018 amounted to $1,106.

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 Natixis Advisors,

|  28

Notes to Financial Statements (continued)

July 31, 2018 (Unaudited)

Natixis Distribution, Natixis or their affiliates. The Chairperson of the Board of Trustees receives a retainer fee at the annual rate of $340,000. The Chairperson does not receive any meeting attendance fees for Board of Trustees meetings or committee meetings that he attends. Each Independent Trustee (other than the Chairperson) receives, in the aggregate, a retainer fee at the annual rate of $170,000. 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 $20,000. The chairperson of the Governance Committee receives an additional retainer fee at the annual rate of $12,000. 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, Loomis Sayles Funds Trusts and Natixis ETF Trust 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 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, Loomis Sayles Funds Trusts and Natixis ETF Trust 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, Loomis Sayles Funds Trusts and Natixis ETF Trust, 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.  Natixis 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, 2019 and is not subject to recovery under the expense limitation agreement described above.

For the six months ended July 31, 2018, Natixis Advisors reimbursed the Fund $111 for transfer agency expenses related to Class N shares.

6.  Class-Specific Transfer Agent Fees and Expenses.  Transfer agent fees and expenses attributable to Class A, Class C and Class Y are allocated on a pro rata basis

29  |

Notes to Financial Statements (continued)

July 31, 2018 (Unaudited)

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.

For the six months ended July 31, 2018, 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	$	37,790	$	3,456	$	111	$	80,777

7.  Line of Credit.  Effective April 12, 2018, the Fund, together with certain other funds of Natixis Funds Trusts, Loomis Sayles Funds Trusts and Natixis ETF Trust, entered into a $400,000,000 committed unsecured line of credit provided by State Street Bank. Any one Fund may borrow up to $350,000,000 under the line of credit agreement (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 and its contractual obligations under the line of credit. Interest is charged to the Funds based upon the terms set forth in the agreement. In addition, a commitment fee of 0.15% per annum, payable at the end of each calendar quarter, 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 Statement of Operations. The unamortized balance is reflected as prepaid expenses on the Statement of Assets and Liabilities.

Prior to April 12, 2018, 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 was able borrow up to the full $400,000,000 under the line of credit (as long as all borrowings by all Funds in the aggregate did not exceed the $400,000,000 limit at any time), subject to each Fund’s investment restrictions and its contractual obligations under the line of credit. Interest was 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, was accrued and apportioned among the participating funds based on their average daily unused portion of the line of credit.

For the six months ended July 31, 2018, the Fund had no borrowings under this agreement.

8.  Brokerage Commission Recapture.  The Fund had 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, 2018, $1,166 was rebated under these agreements.

|  30

Notes to Financial Statements (continued)

July 31, 2018 (Unaudited)

Effective March 9, 2018, the brokerage commission recapture program was terminated.

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, 2018, 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
2		15.03	%

Omnibus shareholder accounts for which Natixis 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.

31  |

Notes to Financial Statements (continued)

July 31, 2018 (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 Months Ended July 31, 2018					Year Ended January 31, 2018
Class A	Shares			Amount		Shares			Amount
Issued from the sale of shares	397,231		$	5,662,260		526,101		$	8,267,520
Issued in connection with the reinvestment of distributions	71,627			956,442		253,455			3,820,533
Redeemed	(425,946	)		(5,925,337	)	(1,619,101	)		(25,490,044	)
Net change	42,912		$	693,365		(839,545	)	$	(13,401,991	)
Class C
Issued from the sale of shares	8,551		$	118,026		31,020		$	488,318
Issued in connection with the reinvestment of distributions	6,228			82,170		23,764			358,033
Redeemed	(181,747	)		(2,609,604	)	(207,627	)		(3,281,081	)
Net change	(166,968	)	$	(2,409,408	)	(152,843	)	$	(2,434,730	)
Class N
Issued from the sale of shares	39,732		$	516,494		109,189		$	1,596,006
Issued in connection with the reinvestment of distributions	17,490			217,568		47,550			668,384
Redeemed	(58,853	)		(773,631	)	(59,482	)		(882,587	)
Net change	(1,631	)	$	(39,569	)	97,257		$	1,381,803
Class Y
Issued from the sale of shares	622,704		$	8,009,602		1,902,647		$	28,038,632
Issued in connection with the reinvestment of distributions	194,669			2,416,053		603,181			8,461,659
Redeemed	(1,208,226	)		(15,649,920	)	(4,414,297	)		(65,004,865	)
Net change	(390,853	)	$	(5,224,265	)	(1,908,469	)	$	(28,504,574	)
Increase (decrease) from capital share transactions	(516,540	)	$	(6,979,877	)	(2,803,600	)	$	(42,959,492	)

|  32

Semiannual Report

July 31, 2018

Natixis Sustainable Future 2015 Fund^SM

Natixis Sustainable Future 2020 Fund^SM

Natixis Sustainable Future 2025 Fund^SM

Natixis Sustainable Future 2030 Fund^SM

Natixis Sustainable Future 2035 Fund^SM

Natixis Sustainable Future 2040 Fund^SM

Natixis Sustainable Future 2045 Fund^SM

Natixis Sustainable Future 2050 Fund^SM

Natixis Sustainable Future 2055 Fund^SM

Natixis Sustainable Future 2060 Fund^SM

Table of Contents

Portfolio Review	1
Portfolio of Investments	12
Financial Statements	53
Notes to Financial Statements	71

NATIXIS SUSTAINABLE FUTURE FUNDS^SM

Managers	Symbols
Mirova Global Sustainable Equity Segment	2015 Fund    Class N    NSFBX
Mirova Carbon Neutral U.S. Equity Segment	2020 Fund    Class N    NSFDX
Ostrum 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 Natixis 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

Average Annual Total Returns — July 31, 2018²

										Expense Ratios3
	6 Months			1 Year			Life of Fund			Gross			Net
Class N (Inception 2/28/17)
NAV		-0.23	%		7.36	%		9.10	%		3.84	%		0.65	%
Comparative Performance
S&P Target Date 2015® Index1		-0.40			5.63			6.86

NATIXIS SUSTAINABLE FUTURE 2020 FUND

Average Annual Total Returns — July 31, 2018²

										Expense Ratios3
	6 Months			1 Year			Life of Fund			Gross			Net
Class N (Inception 2/28/17)
NAV		-0.28	%		8.45	%		10.39	%		3.82	%		0.65	%
Comparative Performance
S&P Target Date 2020® Index1		-0.49			6.39			7.74

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 im.natixis.com/performance. 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

Average Annual Total Returns — July 31, 2018²

										Expense Ratios3
	6 Months			1 Year			Life of Fund			Gross			Net
Class N (Inception 2/28/17)
NAV		-0.50	%		9.39	%		11.51	%		4.61	%		0.65	%
Comparative Performance
S&P Target Date 2025® Index1		-0.64			7.56			8.97

NATIXIS SUSTAINABLE FUTURE 2030 FUND

Average Annual Total Returns — July 31, 2018²

										Expense Ratios3
	6 Months			1 Year			Life of Fund			Gross			Net
Class N (Inception 2/28/17)
NAV		-0.65	%		10.61	%		13.05	%		5.19	%		0.65	%
Comparative Performance
S&P Target Date 2030® Index1		-0.72			8.75			10.18

NATIXIS SUSTAINABLE FUTURE 2035 FUND

Average Annual Total Returns — July 31, 2018²

										Expense Ratios3
	6 Months			1 Year			Life of Fund			Gross			Net
Class N (Inception 2/28/17)
NAV		-0.79	%		11.61	%		14.37	%		5.13	%		0.65	%
Comparative Performance
S&P Target Date 2035® Index1		-0.84			9.83			11.31

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 im.natixis.com/performance. 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^SM

NATIXIS SUSTAINABLE FUTURE 2040 FUND

Average Annual Total Returns — July 31, 2018²

										Expense Ratios3
	6 Months			1 Year			Life of Fund			Gross			Net
Class N (Inception 2/28/17)
NAV		-0.95	%		12.60	%		15.45	%		5.10	%		0.65	%
Comparative Performance
S&P Target Date 2040® Index1		-0.89			10.59			12.08

NATIXIS SUSTAINABLE FUTURE 2045 FUND

Average Annual Total Returns — July 31, 2018²

										Expense Ratios3
	6 Months			1 Year			Life of Fund			Gross			Net
Class N (Inception 2/28/17)
NAV		-0.94	%		13.22	%		16.20	%		6.01	%		0.65	%
Comparative Performance
S&P Target Date 2045® Index1		-0.97			10.95			12.49

NATIXIS SUSTAINABLE FUTURE 2050 FUND

Average Annual Total Returns — July 31, 2018²

										Expense Ratios3
	6 Months			1 Year			Life of Fund			Gross			Net
Class N (Inception 2/28/17)
NAV		-1.08	%		13.51	%		16.56	%		6.03	%		0.65	%
Comparative Performance
S&P Target Date 2050® Index1		-0.97			11.27			12.86

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 im.natixis.com/performance. 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

Average Annual Total Returns — July 31, 2018²

										Expense Ratios3
	6 Months			1 Year			Life of Fund			Gross			Net
Class N (Inception 2/28/17)
NAV		-0.99	%		13.60	%		16.63	%		6.01	%		0.65	%
Comparative Performance
S&P Target Date 2055® Index1		-1.01			11.37			12.99

NATIXIS SUSTAINABLE FUTURE 2060 FUND

Average Annual Total Returns — July 31, 2018²

										Expense Ratios3
	6 Months			1 Year			Life of Fund			Gross			Net
Class N (Inception 2/28/17)
NAV		-1.01	%		13.54	%		16.59	%		6.00	%		0.65	%
Comparative Performance
S&P Target Date 2060® Index1		-1.00			11.60			13.20

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 im.natixis.com/performance. 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 5/31/19. 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.     

|  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 Investment Managers or any of its related or affiliated companies (collectively “Natixis Affiliates”) and does not sponsor, endorse or participate in the provision of any Natixis Affiliates 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 the Natixis Funds’ website at im.natixis.com; and on the Securities and Exchange Commission’s (SEC) website at www.sec.gov. Information regarding how the Natixis Funds voted proxies relating to portfolio securities during the most recent 12-month period ended June 30 is available on the Natixis Funds’ 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 Funds’ 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, 2018 through July 31, 2018. 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 2/1/2018		ENDING ACCOUNT VALUE 7/31/2018		EXPENSES PAID DURING PERIOD* 2/1/2018 – 7/31/2018
Class N
Actual		$1,000.00		$997.70		$1.78
Hypothetical (5% return before expenses)		$1,000.00		$1,023.01		$1.81

* Expenses are equal to the Fund’s annualized expense ratio (after waiver/reimbursement) of 0.36%, 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.

NATIXIS SUSTAINABLE FUTURE 2020 FUND	BEGINNING ACCOUNT VALUE 2/1/2018		ENDING ACCOUNT VALUE 7/31/2018		EXPENSES PAID DURING PERIOD* 2/1/2018 – 7/31/2018
Class N
Actual		$1,000.00		$997.20		$1.93
Hypothetical (5% return before expenses)		$1,000.00		$1,022.86		$1.96

* Expenses are equal to the Fund’s annualized expense ratio (after waiver/reimbursement) of 0.39%, 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.

NATIXIS SUSTAINABLE FUTURE 2025 FUND	BEGINNING ACCOUNT VALUE 2/1/2018		ENDING ACCOUNT VALUE 7/31/2018		EXPENSES PAID DURING PERIOD* 2/1/2018 – 7/31/2018
Class N
Actual		$1,000.00		$995.00		$2.18
Hypothetical (5% return before expenses)		$1,000.00		$1,022.61		$2.21

* Expenses are equal to the Fund’s annualized expense ratio (after waiver/reimbursement) of 0.44%, 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.

|  6

NATIXIS SUSTAINABLE FUTURE 2030 FUND	BEGINNING ACCOUNT VALUE 2/1/2018		ENDING ACCOUNT VALUE 7/31/2018		EXPENSES PAID DURING PERIOD* 2/1/2018 – 7/31/2018
Class N
Actual		$1,000.00		$993.50		$2.47
Hypothetical (5% return before expenses)		$1,000.00		$1,022.32		$2.51

* Expenses are equal to the Fund’s annualized expense ratio (after waiver/reimbursement) of 0.50%, 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.

NATIXIS SUSTAINABLE FUTURE 2035 FUND	BEGINNING ACCOUNT VALUE 2/1/2018		ENDING ACCOUNT VALUE 7/31/2018		EXPENSES PAID DURING PERIOD* 2/1/2018 – 7/31/2018
Class N
Actual		$1,000.00		$992.10		$2.67
Hypothetical (5% return before expenses)		$1,000.00		$1,022.12		$2.71

* Expenses are equal to the Fund’s annualized expense ratio (after waiver/reimbursement) of 0.54%, 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.

NATIXIS SUSTAINABLE FUTURE 2040 FUND	BEGINNING ACCOUNT VALUE 2/1/2018		ENDING ACCOUNT VALUE 7/31/2018		EXPENSES PAID DURING PERIOD* 2/1/2018 – 7/31/2018
Class N
Actual		$1,000.00		$990.50		$2.86
Hypothetical (5% return before expenses)		$1,000.00		$1,021.92		$2.91

* Expenses are equal to the Fund’s annualized expense ratio (after waiver/reimbursement) of 0.58%, 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.

NATIXIS SUSTAINABLE FUTURE 2045 FUND	BEGINNING ACCOUNT VALUE 2/1/2018		ENDING ACCOUNT VALUE 7/31/2018		EXPENSES PAID DURING PERIOD* 2/1/2018 – 7/31/2018
Class N
Actual		$1,000.00		$990.60		$2.96
Hypothetical (5% return before expenses)		$1,000.00		$1,021.82		$3.01

* Expenses are equal to the Fund’s annualized expense ratio (after waiver/reimbursement) of 0.60%, 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.

NATIXIS SUSTAINABLE FUTURE 2050 FUND	BEGINNING ACCOUNT VALUE 2/1/2018		ENDING ACCOUNT VALUE 7/31/2018		EXPENSES PAID DURING PERIOD* 2/1/2018 – 7/31/2018
Class N
Actual		$1,000.00		$989.20		$3.01
Hypothetical (5% return before expenses)		$1,000.00		$1,021.77		$3.06

* 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.

7  |

NATIXIS SUSTAINABLE FUTURE 2055 FUND	BEGINNING ACCOUNT VALUE 2/1/2018		ENDING ACCOUNT  VALUE 7/31/2018		EXPENSES PAID DURING PERIOD* 2/1/2018 – 7/31/2018
Class N
Actual		$1,000.00		$990.10		$3.01
Hypothetical (5% return before expenses)		$1,000.00		$1,021.77		$3.06

* 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.

NATIXIS SUSTAINABLE FUTURE 2060 FUND	BEGINNING ACCOUNT VALUE 2/1/2018		ENDING ACCOUNT  VALUE 7/31/2018		EXPENSES PAID DURING PERIOD* 2/1/2018 – 7/31/2018
Class N
Actual		$1,000.00		$989.90		$3.01
Hypothetical (5% return before expenses)		$1,000.00		$1,021.77		$3.06

* 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.

|  8

BOARD APPROVAL OF THE EXISTING ADVISORY AND SUB-ADVISORY AGREEMENTS

The Board of Trustees of the Trust (the “Board”), including the Independent Trustees, considers matters bearing on each Fund’s advisory and sub-advisory agreements (collectively, the “Agreements”) 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 Agreements to determine whether to recommend that the full Board approve the continuation of the Agreements, 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 Agreements.

In connection with these meetings, the Trustees receive materials that the Funds’ investment adviser and sub-advisers, as applicable (collectively, the “Advisers”), believe to be reasonably necessary for the Trustees to evaluate the Agreements. These materials generally include, among other items, (i) information on the investment performance of the Funds and the performance of peer groups of funds and the Funds’ performance benchmarks, (ii) information on the Funds’ advisory and sub-advisory fees and other expenses, including information comparing the Funds’ advisory and sub-advisory fees to the fees charged to institutional accounts with similar strategies managed by the Advisers, if any, and to those of peer groups of funds and information about any applicable expense caps and/or fee “breakpoints,” (iii) sales and redemption data in respect of the Funds, (iv) information about the profitability of the Agreements to the Advisers and (v) information obtained through the completion by the Advisers of a questionnaire distributed on behalf of the Trustees. The Board, including the Independent Trustees, also considers other matters such as (i) each Adviser’s financial results and financial condition, (ii) each Fund’s investment objective and strategies and the size, education and experience of each 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 Funds’ shares and the related costs, (iv) the allocation of the Funds’ brokerage, if any, including, if applicable, allocations to brokers affiliated with the Advisers 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 Funds’ investment policies and restrictions, policies on personal securities transactions and other compliance policies, (vi) each 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 Funds’ portfolio managers in the Funds 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 Advisers.

In addition to the materials requested by the Trustees in connection with their annual consideration of the continuation of the Agreements, the Trustees receive materials in advance of each regular quarterly meeting of the Board that provide detailed information about the Funds’ investment performance and the fees charged to the Funds for advisory and other services. This information generally includes, among other things, an internal performance rating for each Fund based on agreed-upon criteria, total return information for various periods, and third-party performance rankings for various periods comparing a Fund against similarly categorized funds. The portfolio management team for each Fund or other representatives of the Advisers make periodic presentations to the Contract Review Committee and/or the full Board, and Funds identified as presenting possible performance concerns may be subject to more frequent board presentations and reviews. In addition, each quarter the Trustees are provided with detailed statistical information about each Fund’s portfolio. The Trustees also receive periodic updates between meetings.

The Board most recently approved the continuation of the Agreements for a one-year period at its meeting held in June 2018. In considering whether to approve the continuation of the Agreements, 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 Agreements included, but were not limited to, the factors listed below.

The nature, extent and quality of the services provided to the Funds under the Agreements. The Trustees considered the nature, extent and quality of the services provided by the Advisers and their affiliates to the Funds, and the resources dedicated to the Funds by the Advisers and the Advisers’ affiliates.

The Trustees considered not only the advisory and sub-advisory services provided by the Advisers to the Funds, but also the monitoring and oversight services provided by Natixis Advisors, L.P. (“Natixis Advisors”). They also considered the administrative and shareholder services provided by Natixis Advisors 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 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 each of the Agreements, that the nature, extent and quality of services provided supported the renewal of the Agreements.

9  |

Investment performance of the Funds and the Advisers. As noted above, the Trustees received information about the performance of the Funds over various time periods, including information that compared the performance of the Funds to the performance of similarly categorized funds and the Funds’ performance benchmarks. Because the Funds commenced operations on February 28, 2017 and thus had not yet been in operation for a full year as of December 31, 2017, one-, three-, and five-year performance was not available, although the Board did consider the Fund’s performance over other periods.

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

After reviewing these and related factors, the Trustees concluded, within the context of their overall conclusions regarding each of the Agreements, that the performance of the Funds and the Advisers supported the renewal of the Agreements.

The costs of the services to be provided and profits to be realized by the Advisers and their affiliates from their respective relationships with each Fund. The Trustees considered the fees charged to the Funds for advisory, sub-advisory and administrative services, as well as the total expense levels of the Funds. This information included comparisons (provided both by management and also by an independent third-party) of the Funds’ advisory and sub-advisory fees and total expense levels to those of their peer groups and information about the advisory fees charged by the Advisers to comparable accounts (such as institutional separate accounts), as well as information about differences in 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 additional resources required to effectively manage mutual fund assets and the greater regulatory costs associated with the management of such assets. In evaluating each Fund’s advisory and sub-advisory fees, as applicable, the Trustees also took into account the demands, complexity, and quality of the investment management of each Fund and the need for the Advisers to offer competitive compensation and the potential need to expend additional resources to the extent the Funds grow 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 each Fund has an expense cap in place and that each Fund’s expenses are currently above the cap. They also considered the amounts waived or reimbursed by the Advisers for the Funds.

The Trustees noted that each Fund had an advisory fee rate that was above the median of a peer group of funds. In this regard, the Trustees considered that the advisory fee structure and underlying constituents of each Fund is unique (consisting of underlying investments in both affiliated funds and separately managed segments and with the asset allocation and glide path decisions made by an unaffiliated sub-adviser (i.e., Wilshire)) and therefore a comparison to the peer group is challenging as the majority of target-date peers utilize an affiliated fund-of-fund structure, charging little to no advisory fee at the target-date level.

The Trustees also considered the compensation directly or indirectly received by the Advisers and its affiliates from their relationships with the Funds. The Trustees reviewed information provided by management as to the profitability of the Advisers’ and their affiliates’ relationships with the Funds, 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 Funds, the expense levels of the Funds, whether the Advisers had implemented breakpoints and/or expense caps with respect to such Funds and the overall profit margin of Natixis Investment Managers compared to that of certain other investment managers for which such data was available.

After reviewing these and related factors, the Trustees concluded, within the context of their overall conclusions regarding each of the Agreements, that the advisory and sub-advisory fees and expenses charged to each Fund were fair and reasonable, and that the costs of these services generally and the related profitability of the Advisers and their affiliates in respect of their relationship with the Funds supported the renewal of the Agreements.

Economies of Scale. The Trustees considered the existence of any economies of scale in the provision of services by the Advisers and whether those economies are shared with the Funds through breakpoints in their investment advisory fees or other means, such as expense caps. The Trustees also discussed with management the factors considered with respect to the implementation of breakpoints in investment advisory fees or expense 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 each of the Funds was subject to an 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 Advisers and their affiliates of their relationships with the Funds, as discussed above.

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

|  10

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 each Fund.

• Whether each 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 Funds and the Advisers. They also considered the compliance-related resources the Advisers and their affiliates were providing to the Funds.

• So-called “fallout benefits” to the Advisers, such as the engagement of affiliates of the Advisers to provide distribution, administrative and brokerage services to the Funds, and the benefits of research made available to the Advisers by reason of brokerage commissions (if any) generated by the Funds’ securities transactions. The Trustees also considered the benefits to the parent company of Natixis Advisors from the retention of the Advisers. 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 Funds’ 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 each of existing Agreements should be continued through June 30, 2019.

11  |

Portfolio of Investments – as of July 31, 2018 (Unaudited)

Natixis Sustainable Future 2015 Fund

Shares		Description	Value (†)
	Common Stocks — 45.7% of Net Assets
		Aerospace & Defense — 0.0%
	83	Arconic, Inc.	$	1,800
		Air Freight & Logistics — 0.1%
	52	United Parcel Service, Inc., Class B		6,234
		Auto Components — 1.2%
	364	Aptiv PLC		35,698
	128	Delphi Technologies PLC		5,782
	11	Goodyear Tire & Rubber Co. (The)		266
	586	Valeo S.A., Sponsored ADR		14,345
				56,091
		Automobiles — 1.2%
	1,460	Byd Co. Ltd., ADR		16,622
	283	Toyota Motor Corp., Sponsored ADR		37,311
				53,933
		Banks — 2.4%
	424	Bank of America Corp.		13,093
	80	Citizens Financial Group, Inc.		3,182
	196	Huntington Bancshares, Inc.		3,026
	1,095	KBC Group NV, Sponsored ADR		42,147
	197	KeyCorp		4,111
	494	People’s United Financial, Inc.		9,006
	181	Signature Bank		19,858
	27	U.S. Bancorp		1,431
	143	Wells Fargo & Co.		8,192
	78	Zions Bancorporation		4,033
				108,079
		Beverages — 0.4%
	67	Brown-Forman Corp., Class B		3,566
	144	Coca-Cola Co. (The)		6,714
	14	Molson Coors Brewing Co., Class B		938
	51	PepsiCo, Inc.		5,865
				17,083
		Biotechnology — 0.7%
	14	AbbVie, Inc.		1,291
	13	Amgen, Inc.		2,555
	381	Gilead Sciences, Inc.		29,654
				33,500
		Building Products — 0.8%
	490	A.O. Smith Corp.		29,170
	237	Johnson Controls International PLC		8,890
				38,060
		Capital Markets — 1.1%
	11	Affiliated Managers Group, Inc.		1,760
	13	Ameriprise Financial, Inc.		1,894
	120	Bank of New York Mellon Corp. (The)		6,416
	11	BlackRock, Inc.		5,530
	25	Charles Schwab Corp. (The)		1,276
	22	CME Group, Inc.		3,501
	88	Franklin Resources, Inc.		3,020
	34	Goldman Sachs Group, Inc. (The)		8,073
	15	Intercontinental Exchange, Inc.		1,109
	51	Invesco Ltd.		1,376
	12	Legg Mason, Inc.		410
	8	Moody’s Corp.		1,369
	15	Nasdaq, Inc.		1,371
	55	Northern Trust Corp.		6,007
	7	S&P Global, Inc.		1,403
	48	State Street Corp.		4,239
				48,754
		Chemicals — 3.4%
	14	Air Products & Chemicals, Inc.		2,298
	430	Chr. Hansen Holding AS, Sponsored ADR		22,237
	387	Ecolab, Inc.		54,451
	99	International Flavors & Fragrances, Inc.		13,143
	232	Novozymes AS, Sponsored ADR		12,199
	52	Praxair, Inc.		8,710
	1,755	Symrise AG, Sponsored ADR		39,567
				152,605
		Commercial Services & Supplies — 0.1%
	11	Stericycle, Inc.(a)		768
	31	Waste Management, Inc.		2,790
				3,558
		Communications Equipment — 0.3%
	328	Cisco Systems, Inc.		13,871
	11	Motorola Solutions, Inc.		1,334
				15,205
		Construction & Engineering — 0.1%
	47	Fluor Corp.		2,409
		Consumer Finance — 0.2%
	42	American Express Co.		4,180
	68	Discover Financial Services		4,856
	66	Navient Corp.		872
	40	Synchrony Financial		1,157
				11,065
		Containers & Packaging — 0.1%
	72	Ball Corp.		2,806
	17	Crown Holdings, Inc.(a)		769
	45	International Paper Co.		2,418
				5,993
		Distributors — 0.1%
	38	Genuine Parts Co.		3,698
		Diversified Consumer Services — 0.0%
	17	H&R Block, Inc.		428
		Diversified Telecommunication Services — 0.6%
	430	AT&T, Inc.		13,747
	216	Verizon Communications, Inc.		11,154
				24,901
		Electric Utilities — 0.8%
	223	NextEra Energy, Inc.		37,361
	18	Xcel Energy, Inc.		844
				38,205
		Electrical Equipment — 2.3%
	157	Acuity Brands, Inc.		21,828
	705	Eaton Corp. PLC		58,635
	1,148	Vestas Wind Systems AS, Sponsored ADR		24,601
				105,064
		Electronic Equipment, Instruments & Components — 0.0%
	15	TE Connectivity Ltd.		1,404
		Food & Staples Retailing — 0.2%
	38	Kroger Co. (The)		1,102
	86	Sysco Corp.		5,780
	22	Walmart, Inc.		1,963
				8,845
		Food Products — 0.8%
	71	Campbell Soup Co.		2,904
	55	Conagra Brands, Inc.		2,019
	1,283	Danone S.A., Sponsored ADR		20,066

See accompanying notes to financial statements.

|  12

Portfolio of Investments – as of July 31, 2018 (Unaudited)

Natixis Sustainable Future 2015 Fund – (continued)

Shares		Description	Value (†)
		Food Products — continued
	22	General Mills, Inc.	$	1,013
	21	Hershey Co. (The)		2,062
	18	Hormel Foods Corp.		648
	14	J.M. Smucker Co. (The)		1,556
	36	Kellogg Co.		2,557
	92	Mondelez International, Inc., Class A		3,991
				36,816
		Health Care Equipment & Supplies — 2.7%
	55	Baxter International, Inc.		3,985
	1,300	Coloplast AS, Sponsored ADR		14,098
	511	Danaher Corp.		52,418
	14	DENTSPLY SIRONA, Inc.		674
	635	Essilor International Cie Generale d’Optique S.A., Sponsored ADR		46,796
	56	Medtronic PLC		5,053
				123,024
		Health Care Providers & Services — 1.0%
	18	Aetna, Inc.		3,391
	21	Anthem, Inc.		5,313
	7	Cigna Corp.		1,256
	67	CVS Health Corp.		4,346
	21	DaVita, Inc.(a)		1,476
	8	Envision Healthcare Corp.(a)		354
	42	Express Scripts Holding Co.(a)		3,337
	761	Fresenius SE & Co. KGaA, Sponsored ADR		14,684
	23	HCA Healthcare, Inc.		2,857
	8	Humana, Inc.		2,513
	2	Laboratory Corp. of America Holdings(a)		351
	8	Quest Diagnostics, Inc.		862
	22	UnitedHealth Group, Inc.		5,571
	3	Universal Health Services, Inc., Class B		366
				46,677
		Home Construction — 0.3%
	284	Geberit AG, ADR		12,158
		Hotels, Restaurants & Leisure — 0.1%
	10	Carnival Corp.		593
	6	McDonald’s Corp.		945
	86	MGM Resorts International		2,698
	21	Starbucks Corp.		1,100
				5,336
		Household Durables — 0.6%
	8	Lennar Corp., Class��A		418
	1,452	Sekisui House Ltd., Sponsored ADR		24,793
	2	Whirlpool Corp.		262
				25,473
		Household Products — 0.3%
	8	Church & Dwight Co., Inc.		447
	14	Clorox Co. (The)		1,892
	53	Colgate-Palmolive Co.		3,552
	110	Procter & Gamble Co. (The)		8,897
				14,788
		Independent Power & Renewable Electricity Producers — 0.2%
	73	Ormat Technologies, Inc.		3,960
	224	Pattern Energy Group, Inc.		4,160
				8,120
		Industrial Conglomerates — 1.0%
	333	General Electric Co.		4,539
	139	Roper Technologies, Inc.		41,964
				46,503
		Industrial Other — 0.0%
	29	Iron Mountain, Inc.		1,018
		Insurance — 3.2%
	28	Aflac, Inc.		1,303
	1,295	AIA Group Ltd., Sponsored ADR		45,532
	720	Allianz SE, Sponsored ADR		15,880
	8	Allstate Corp. (The)		761
	19	Brighthouse Financial, Inc.(a)		825
	66	Hartford Financial Services Group, Inc. (The)		3,478
	1,279	Legal & General Group PLC, Sponsored ADR		22,651
	52	Lincoln National Corp.		3,541
	107	MetLife, Inc.		4,894
	60	Prudential Financial, Inc.		6,055
	644	Prudential PLC, Sponsored ADR		30,474
	81	Torchmark Corp.		7,134
	60	Unum Group		2,384
				144,912
		Internet & Direct Marketing Retail — 1.0%
	23	Amazon.com, Inc.(a)		40,881
	1	Booking Holdings, Inc.(a)		2,029
	6	Netflix, Inc.(a)		2,024
	8	TripAdvisor, Inc.(a)		464
				45,398
		Internet Software & Services — 2.9%
	8	Akamai Technologies, Inc.(a)		602
	71	Alphabet, Inc., Class A(a)		87,133
	2	Alphabet, Inc., Class C(a)		2,434
	239	Facebook, Inc., Class A(a)		41,247
				131,416
		IT Services — 3.2%
	7	Accenture PLC, Class A		1,115
	23	Cognizant Technology Solutions Corp., Class A		1,875
	42	International Business Machines Corp.		6,087
	426	MasterCard, Inc., Class A		84,348
	22	PayPal Holdings, Inc.(a)		1,807
	354	Visa, Inc., Class A		48,406
	55	Western Union Co. (The)		1,109
				144,747
		Life Sciences Tools & Services — 1.9%
	18	Agilent Technologies, Inc.		1,189
	36	Illumina, Inc.(a)		11,677
	302	Thermo Fisher Scientific, Inc.		70,828
				83,694
		Machinery — 0.9%
	54	Caterpillar, Inc.		7,765
	7	Cummins, Inc.		1,000
	31	Deere & Co.		4,488
	59	Flowserve Corp.		2,615
	3	Ingersoll-Rand PLC		296
	17	Parker Hannifin Corp.		2,874
	178	Watts Water Technologies, Inc., Series A		15,228
	59	Xylem, Inc.		4,517
				38,783
		Media — 0.4%
	33	CBS Corp., Class B		1,738
	16	Interpublic Group of Cos., Inc. (The)		361
	73	News Corp., Class A		1,100
	5	Omnicom Group, Inc.		344
	54	Twenty-First Century Fox, Inc., Class A		2,430
	33	Twenty-First Century Fox, Inc., Class B		1,466
	77	Walt Disney Co. (The)		8,744
				16,183

See accompanying notes to financial statements.

13  |

Portfolio of Investments – as of July 31, 2018 (Unaudited)

Natixis Sustainable Future 2015 Fund – (continued)

Shares		Description	Value (†)
		Metals & Mining — 0.1%
	132	Newmont Mining Corp.	$	4,842
		Multiline Retail — 0.1%
	16	Kohl’s Corp.		1,182
	10	Macy’s, Inc.		398
	21	Target Corp.		1,694
				3,274
		Personal Products — 0.9%
	106	Estee Lauder Cos., Inc. (The), Class A		14,304
	468	Unilever NV		26,891
				41,195
		Pharmaceuticals — 2.0%
	22	Allergan PLC		4,050
	60	Bristol-Myers Squibb Co.		3,525
	39	Eli Lilly & Co.		3,854
	96	Johnson & Johnson		12,722
	100	Merck & Co., Inc.		6,587
	52	Mylan NV(a)		1,940
	913	Novo Nordisk AS, Sponsored ADR		45,440
	250	Pfizer, Inc.		9,982
				88,100
		Professional Services — 0.1%
	30	IHS Markit Ltd.(a)		1,591
	31	Nielsen Holdings PLC		730
	3	Verisk Analytics, Inc.(a)		332
				2,653
		Real Estate Management & Development — 0.0%
	28	CBRE Group, Inc., Class A(a)		1,394
		REITs – Apartments — 0.1%
	6	AvalonBay Communities, Inc.		1,061
	41	Equity Residential		2,683
	7	Essex Property Trust, Inc.		1,683
	4	Mid-America Apartment Communities, Inc.		403
				5,830
		REITs – Diversified — 0.4%
	88	Crown Castle International Corp.		9,753
	14	Digital Realty Trust, Inc.		1,700
	2	Equinix, Inc.		879
	20	Vornado Realty Trust		1,438
	88	Weyerhaeuser Co.		3,008
				16,778
		REITs – Health Care — 0.2%
	41	HCP, Inc.		1,062
	31	Ventas, Inc.		1,748
	87	Welltower, Inc.		5,446
				8,256
		REITs – Hotels — 0.1%
	119	Host Hotels & Resorts, Inc.		2,492
		REITs – Office Property — 0.0%
	14	Boston Properties, Inc.		1,757
		REITs – Regional Malls — 0.0%
	8	Macerich Co. (The)		472
		REITs – Single Tenant — 0.0%
	9	Realty Income Corp.		502
		REITs – Storage — 0.1%
	15	Public Storage		3,267
		Road & Rail — 0.4%
	27	Kansas City Southern		3,139
	41	Norfolk Southern Corp.		6,929
	55	Union Pacific Corp.		8,244
				18,312
		Semiconductors & Semiconductor Equipment — 0.9%
	56	Advanced Micro Devices, Inc.(a)		1,027
	40	Applied Materials, Inc.		1,945
	91	ASML Holding NV, (Registered)		19,474
	75	First Solar, Inc.(a)		3,926
	192	Intel Corp.		9,235
	9	NVIDIA Corp.		2,204
	19	QUALCOMM, Inc.		1,218
	12	Texas Instruments, Inc.		1,336
	1	Xilinx, Inc.		72
				40,437
		Software — 2.3%
	8	Autodesk, Inc.(a)		1,027
	4	Citrix Systems, Inc.(a)		440
	63	Ellie Mae, Inc.(a)		6,251
	707	Microsoft Corp.		74,999
	473	Oracle Corp.		22,553
	19	Symantec Corp.		384
				105,654
		Specialty Retail — 0.2%
	13	Best Buy Co., Inc.		975
	23	Gap, Inc. (The)		694
	20	Home Depot, Inc. (The)		3,950
	29	Lowe’s Cos., Inc.		2,881
	14	Tiffany & Co.		1,926
				10,426
		Technology Hardware, Storage & Peripherals — 0.4%
	36	Apple, Inc.		6,851
	198	Hewlett Packard Enterprise Co.		3,057
	67	HP, Inc.		1,546
	23	NetApp, Inc.		1,783
	7	Seagate Technology PLC		368
	24	Western Digital Corp.		1,684
	32	Xerox Corp.		831
				16,120
		Textiles, Apparel & Luxury Goods — 0.1%
	16	Hanesbrands, Inc.		356
	48	NIKE, Inc., Class B		3,692
	3	PVH Corp.		461
	8	VF Corp.		736
				5,245
		Trading Companies & Distributors — 0.2%
	55	Fastenal Co.		3,131
	17	W.W. Grainger, Inc.		5,892
				9,023
		Water Utilities — 0.5%
	262	American Water Works Co., Inc.		23,122
		Total Common Stocks (Identified Cost $1,730,183)		2,071,111

See accompanying notes to financial statements.

|  14

Portfolio of Investments – as of July 31, 2018 (Unaudited)

Natixis Sustainable Future 2015 Fund – (continued)

Shares		Description	Value (†)
	Affiliated Mutual Funds — 51.2%
	48,768	Loomis Sayles Inflation Protected Securities Fund, Class N	$	499,379
	48,874	Loomis Sayles Limited Term Government and Agency Fund, Class N		544,452
	128,976	Mirova Global Green Bond Fund, Class N		1,272,996
		Total Affiliated Mutual Funds (Identified Cost $2,356,883)		2,316,827
		Total Investments — 96.9% (Identified Cost $4,087,066)		4,387,938
		Other assets less liabilities — 3.1%		140,099
		Net Assets — 100.0%	$	4,528,037
	(†)	See Note 2 of Notes to Financial Statements.
	(a)	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, 2018 (Unaudited)

Chemicals	3.4	%
Insurance	3.2
IT Services	3.2
Internet Software & Services	2.9
Health Care Equipment & Supplies	2.7
Banks	2.4
Software	2.3
Electrical Equipment	2.3
Pharmaceuticals	2.0
Other Investments, less than 2% each	21.3
Affiliated Mutual Funds*	51.2
Total Investments	96.9
Other assets less liabilities	3.1
Net Assets	100.0	%

* For more detailed information regarding industry classification, financial statements of affiliated mutual funds (See Note 5 of Notes to Financial Statements) are available, without charge, on the Funds’ website at im.natixis.com.

Asset Allocation Summary at July 31, 2018 (Unaudited)

Fixed Income	51.2	%
Equity	45.7
Total Investments	96.9
Other assets less liabilities	3.1
Net Assets	100.0	%

See accompanying notes to financial statements.

15  |

Portfolio of Investments – as of July 31, 2018 (Unaudited)

Natixis Sustainable Future 2020 Fund

Shares		Description	Value (†)
	Common Stocks — 52.6% of Net Assets
		Aerospace & Defense — 0.0%
	94	Arconic, Inc.	$	2,039
		Air Freight & Logistics — 0.2%
	58	United Parcel Service, Inc., Class B		6,954
		Auto Components — 1.5%
	438	Aptiv PLC		42,955
	157	Delphi Technologies PLC		7,092
	12	Goodyear Tire & Rubber Co. (The)		290
	712	Valeo S.A., Sponsored ADR		17,430
				67,767
		Automobiles — 1.4%
	1,761	Byd Co. Ltd., ADR		20,049
	349	Toyota Motor Corp., Sponsored ADR		46,012
				66,061
		Banks — 2.7%
	480	Bank of America Corp.		14,823
	81	Citizens Financial Group, Inc.		3,222
	211	Huntington Bancshares, Inc.		3,258
	1,321	KBC Group NV, Sponsored ADR		50,845
	200	KeyCorp		4,174
��	535	People’s United Financial, Inc.		9,753
	217	Signature Bank		23,807
	31	U.S. Bancorp		1,643
	162	Wells Fargo & Co.		9,281
	79	Zions Bancorporation		4,084
				124,890
		Beverages — 0.4%
	69	Brown-Forman Corp., Class B		3,672
	160	Coca-Cola Co. (The)		7,461
	19	Molson Coors Brewing Co., Class B		1,273
	57	PepsiCo, Inc.		6,555
				18,961
		Biotechnology — 0.9%
	15	AbbVie, Inc.		1,383
	14	Amgen, Inc.		2,752
	458	Gilead Sciences, Inc.		35,646
				39,781
		Building Products — 1.0%
	591	A.O. Smith Corp.		35,182
	268	Johnson Controls International PLC		10,053
				45,235
		Capital Markets — 1.2%
	13	Affiliated Managers Group, Inc.		2,080
	14	Ameriprise Financial, Inc.		2,039
	132	Bank of New York Mellon Corp. (The)		7,058
	13	BlackRock, Inc.		6,536
	23	Charles Schwab Corp. (The)		1,174
	23	CME Group, Inc.		3,660
	101	Franklin Resources, Inc.		3,466
	39	Goldman Sachs Group, Inc. (The)		9,260
	16	Intercontinental Exchange, Inc.		1,183
	53	Invesco Ltd.		1,431
	15	Legg Mason, Inc.		512
	8	Moody’s Corp.		1,369
	17	Nasdaq, Inc.		1,554
	61	Northern Trust Corp.		6,662
	7	S&P Global, Inc.		1,403
	51	State Street Corp.		4,504
				53,891
		Chemicals — 4.0%
	14	Air Products & Chemicals, Inc.		2,298
	522	Chr. Hansen Holding AS, Sponsored ADR		26,995
	466	Ecolab, Inc.		65,566
	117	International Flavors & Fragrances, Inc.		15,533
	277	Novozymes AS, Sponsored ADR		14,565
	59	Praxair, Inc.		9,883
	2,112	Symrise AG, Sponsored ADR		47,615
				182,455
		Commercial Services & Supplies — 0.1%
	12	Stericycle, Inc.(a)		838
	31	Waste Management, Inc.		2,790
				3,628
		Communications Equipment — 0.4%
	358	Cisco Systems, Inc.		15,140
	12	Motorola Solutions, Inc.		1,455
				16,595
		Construction & Engineering — 0.1%
	53	Fluor Corp.		2,716
		Consumer Finance — 0.3%
	47	American Express Co.		4,677
	77	Discover Financial Services		5,499
	71	Navient Corp.		938
	53	Synchrony Financial		1,534
				12,648
		Containers & Packaging — 0.1%
	76	Ball Corp.		2,962
	12	Crown Holdings, Inc.(a)		543
	51	International Paper Co.		2,740
				6,245
		Distributors — 0.1%
	44	Genuine Parts Co.		4,282
		Diversified Consumer Services — 0.0%
	18	H&R Block, Inc.		453
		Diversified Telecommunication Services — 0.6%
	475	AT&T, Inc.		15,186
	239	Verizon Communications, Inc.		12,342
				27,528
		Electric Utilities — 1.0%
	269	NextEra Energy, Inc.		45,068
	18	Xcel Energy, Inc.		844
				45,912
		Electrical Equipment — 2.7%
	189	Acuity Brands, Inc.		26,277
	842	Eaton Corp. PLC		70,029
	1,385	Vestas Wind Systems AS, Sponsored ADR		29,680
				125,986
		Electronic Equipment, Instruments & Components — 0.0%
	16	TE Connectivity Ltd.		1,497
		Food & Staples Retailing — 0.2%
	39	Kroger Co. (The)		1,131
	94	Sysco Corp.		6,318
	24	Walmart, Inc.		2,141
				9,590
		Food Products — 0.9%
	80	Campbell Soup Co.		3,272
	66	Conagra Brands, Inc.		2,423
	1,548	Danone S.A., Sponsored ADR		24,211

See accompanying notes to financial statements.

|  16

Portfolio of Investments – as of July 31, 2018 (Unaudited)

Natixis Sustainable Future 2020 Fund – (continued)

Shares		Description	Value (†)
		Food Products — continued
	25	General Mills, Inc.	$	1,152
	25	Hershey Co. (The)		2,455
	20	Hormel Foods Corp.		719
	15	J.M. Smucker Co. (The)		1,667
	37	Kellogg Co.		2,628
	96	Mondelez International, Inc., Class A		4,164
				42,691
		Health Care Equipment & Supplies — 3.2%
	62	Baxter International, Inc.		4,492
	1,552	Coloplast AS, Sponsored ADR		16,831
	615	Danaher Corp.		63,087
	20	DENTSPLY SIRONA, Inc.		962
	783	Essilor International Cie Generale d’Optique S.A., Sponsored ADR		57,703
	57	Medtronic PLC		5,143
				148,218
		Health Care Providers & Services — 1.1%
	19	Aetna, Inc.		3,579
	24	Anthem, Inc.		6,072
	6	Cigna Corp.		1,077
	72	CVS Health Corp.		4,670
	25	DaVita, Inc.(a)		1,757
	7	Envision Healthcare Corp.(a)		310
	41	Express Scripts Holding Co.(a)		3,258
	917	Fresenius SE & Co. KGaA, Sponsored ADR		17,693
	23	HCA Healthcare, Inc.		2,857
	10	Humana, Inc.		3,142
	3	Laboratory Corp. of America Holdings(a)		526
	12	Quest Diagnostics, Inc.		1,293
	23	UnitedHealth Group, Inc.		5,824
	3	Universal Health Services, Inc., Class B		366
				52,424
		Home Construction — 0.3%
	339	Geberit AG, ADR		14,513
		Hotels, Restaurants & Leisure — 0.1%
	11	Carnival Corp.		652
	6	McDonald’s Corp.		945
	104	MGM Resorts International		3,262
	21	Starbucks Corp.		1,100
				5,959
		Household Durables — 0.7%
	9	Lennar Corp., Class A		471
	1,734	Sekisui House Ltd., Sponsored ADR		29,608
	3	Whirlpool Corp.		393
				30,472
		Household Products — 0.3%
	9	Church & Dwight Co., Inc.		503
	14	Clorox Co. (The)		1,892
	56	Colgate-Palmolive Co.		3,753
	118	Procter & Gamble Co. (The)		9,544
				15,692
		Independent Power & Renewable Electricity Producers — 0.2%
	74	Ormat Technologies, Inc.		4,015
	230	Pattern Energy Group, Inc.		4,271
				8,286
		Industrial Conglomerates — 1.2%
	376	General Electric Co.		5,125
	168	Roper Technologies, Inc.		50,719
				55,844
		Industrial Other — 0.0%
	32	Iron Mountain, Inc.		1,123
		Insurance — 3.8%
	26	Aflac, Inc.		1,210
	1,597	AIA Group Ltd., Sponsored ADR		56,151
	867	Allianz SE, Sponsored ADR		19,122
	10	Allstate Corp. (The)		951
	24	Brighthouse Financial, Inc.(a)		1,042
	72	Hartford Financial Services Group, Inc. (The)		3,794
	1,553	Legal & General Group PLC, Sponsored ADR		27,504
	63	Lincoln National Corp.		4,290
	117	MetLife, Inc.		5,352
	67	Prudential Financial, Inc.		6,761
	775	Prudential PLC, Sponsored ADR		36,673
	91	Torchmark Corp.		8,014
	68	Unum Group		2,702
				173,566
		Internet & Direct Marketing Retail — 1.1%
	26	Amazon.com, Inc.(a)		46,213
	1	Booking Holdings, Inc.(a)		2,029
	6	Netflix, Inc.(a)		2,025
	8	TripAdvisor, Inc.(a)		464
				50,731
		Internet Software & Services — 3.4%
	7	Akamai Technologies, Inc.(a)		527
	85	Alphabet, Inc., Class A(a)		104,314
	2	Alphabet, Inc., Class C(a)		2,434
	284	Facebook, Inc., Class A(a)		49,013
				156,288
		IT Services — 3.7%
	7	Accenture PLC, Class A		1,115
	22	Cognizant Technology Solutions Corp., Class A		1,793
	46	International Business Machines Corp.		6,667
	509	MasterCard, Inc., Class A		100,782
	22	PayPal Holdings, Inc.(a)		1,807
	428	Visa, Inc., Class A		58,525
	61	Western Union Co. (The)		1,230
				171,919
		Life Sciences Tools & Services — 2.2%
	18	Agilent Technologies, Inc.		1,189
	42	Illumina, Inc.(a)		13,623
	363	Thermo Fisher Scientific, Inc.		85,134
				99,946
		Machinery — 1.0%
	62	Caterpillar, Inc.		8,915
	7	Cummins, Inc.		1,000
	34	Deere & Co.		4,923
	66	Flowserve Corp.		2,926
	4	Ingersoll-Rand PLC		394
	19	Parker Hannifin Corp.		3,212
	217	Watts Water Technologies, Inc., Series A		18,564
	60	Xylem, Inc.		4,594
				44,528
		Media — 0.4%
	40	CBS Corp., Class B		2,107
	18	Interpublic Group of Cos., Inc. (The)		406
	80	News Corp., Class A		1,206
	5	Omnicom Group, Inc.		344
	61	Twenty-First Century Fox, Inc., Class A		2,745
	32	Twenty-First Century Fox, Inc., Class B		1,421
	82	Walt Disney Co. (The)		9,312
				17,541

See accompanying notes to financial statements.

17  |

Portfolio of Investments – as of July 31, 2018 (Unaudited)

Natixis Sustainable Future 2020 Fund – (continued)

Shares		Description	Value (†)
		Metals & Mining — 0.1%
	150	Newmont Mining Corp.	$	5,502
		Multiline Retail — 0.1%
	17	Kohl’s Corp.		1,256
	12	Macy’s, Inc.		477
	23	Target Corp.		1,855
				3,588
		Personal Products — 1.1%
	127	Estee Lauder Cos., Inc. (The), Class A		17,137
	560	Unilever NV		32,178
				49,315
		Pharmaceuticals — 2.2%
	23	Allergan PLC		4,234
	65	Bristol-Myers Squibb Co.		3,819
	43	Eli Lilly & Co.		4,249
	107	Johnson & Johnson		14,180
	103	Merck & Co., Inc.		6,784
	59	Mylan NV(a)		2,201
	1,101	Novo Nordisk AS, Sponsored ADR		54,797
	267	Pfizer, Inc.		10,661
				100,925
		Professional Services — 0.1%
	34	IHS Markit Ltd.(a)		1,803
	41	Nielsen Holdings PLC		966
	3	Verisk Analytics, Inc.(a)		332
				3,101
		Real Estate Management & Development — 0.0%
	26	CBRE Group, Inc., Class A(a)		1,295
		REITs – Apartments — 0.1%
	5	AvalonBay Communities, Inc.		884
	45	Equity Residential		2,945
	7	Essex Property Trust, Inc.		1,683
	4	Mid-America Apartment Communities, Inc.		403
				5,915
		REITs – Diversified — 0.4%
	97	Crown Castle International Corp.		10,751
	15	Digital Realty Trust, Inc.		1,821
	2	Equinix, Inc.		879
	22	Vornado Realty Trust		1,582
	95	Weyerhaeuser Co.		3,247
				18,280
		REITs – Health Care — 0.2%
	45	HCP, Inc.		1,165
	36	Ventas, Inc.		2,030
	88	Welltower, Inc.		5,509
				8,704
		REITs – Hotels — 0.1%
	135	Host Hotels & Resorts, Inc.		2,827
		REITs – Office Property — 0.0%
	15	Boston Properties, Inc.		1,883
		REITs – Regional Malls — 0.0%
	7	Macerich Co. (The)		413
		REITs – Single Tenant — 0.0%
	8	Realty Income Corp.		446
		REITs – Storage — 0.1%
	15	Public Storage		3,267
		Road & Rail — 0.4%
	31	Kansas City Southern		3,604
	44	Norfolk Southern Corp.		7,436
	59	Union Pacific Corp.		8,844
				19,884
		Semiconductors & Semiconductor Equipment — 1.0%
	58	Advanced Micro Devices, Inc.(a)		1,063
	39	Applied Materials, Inc.		1,896
	109	ASML Holding NV, (Registered)		23,326
	76	First Solar, Inc.(a)		3,978
	208	Intel Corp.		10,005
	9	NVIDIA Corp.		2,204
	19	QUALCOMM, Inc.		1,218
	12	Texas Instruments, Inc.		1,336
	1	Xilinx, Inc.		72
				45,098
		Software — 2.7%
	8	Autodesk, Inc.(a)		1,027
	4	Citrix Systems, Inc.(a)		440
	76	Ellie Mae, Inc.(a)		7,541
	839	Microsoft Corp.		89,001
	557	Oracle Corp.		26,558
	21	Symantec Corp.		425
				124,992
		Specialty Retail — 0.2%
	15	Best Buy Co., Inc.		1,125
	23	Gap, Inc. (The)		694
	20	Home Depot, Inc. (The)		3,950
	28	Lowe’s Cos., Inc.		2,782
	14	Tiffany & Co.		1,926
				10,477
		Technology Hardware, Storage & Peripherals — 0.4%
	36	Apple, Inc.		6,850
	205	Hewlett Packard Enterprise Co.		3,165
	64	HP, Inc.		1,477
	23	NetApp, Inc.		1,783
	8	Seagate Technology PLC		421
	24	Western Digital Corp.		1,684
	30	Xerox Corp.		779
				16,159
		Textiles, Apparel & Luxury Goods — 0.1%
	18	Hanesbrands, Inc.		401
	51	NIKE, Inc., Class B		3,922
	4	PVH Corp.		614
	9	VF Corp.		829
				5,766
		Trading Companies & Distributors — 0.2%
	55	Fastenal Co.		3,131
	19	W.W. Grainger, Inc.		6,585
				9,716
		Water Utilities — 0.6%
	309	American Water Works Co., Inc.		27,269
		Total Common Stocks (Identified Cost $2,015,071)		2,419,677

See accompanying notes to financial statements.

|  18

Portfolio of Investments – as of July 31, 2018 (Unaudited)

Natixis Sustainable Future 2020 Fund – (continued)

Shares		Description	Value (†)
	Affiliated Mutual Funds — 44.0%
	26,991	Loomis Sayles Inflation Protected Securities Fund, Class N	$	276,391
	45,445	Loomis Sayles Limited Term Government and Agency Fund, Class N		506,253
	126,125	Mirova Global Green Bond Fund, Class N		1,244,853
		Total Affiliated Mutual Funds (Identified Cost $2,061,046)		2,027,497
		Total Investments — 96.6% (Identified Cost $4,076,117)		4,447,174
		Other assets less liabilities — 3.4%		156,587
		Net Assets — 100.0%	$	4,603,761
	(†)	See Note 2 of Notes to Financial Statements.
	(a)	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, 2018 (Unaudited)

Chemicals	4.0	%
Insurance	3.8
IT Services	3.7
Internet Software & Services	3.4
Health Care Equipment & Supplies	3.2
Electrical Equipment	2.7
Software	2.7
Banks	2.7
Pharmaceuticals	2.2
Life Sciences Tools & Services	2.2
Other Investments, less than 2% each	22.0
Affiliated Mutual Funds*	44.0
Total Investments	96.6
Other assets less liabilities	3.4
Net Assets	100.0	%

* For more detailed information regarding industry classification, financial statements of affiliated mutual funds (See Note 5 of Notes to Financial Statements) are available, without charge, on the Funds’ website at im.natixis.com.

Asset Allocation Summary at July 31, 2018 (Unaudited)

Equity	52.6	%
Fixed Income	44.0
Total Investments	96.6
Other assets less liabilities	3.4
Net Assets	100.0	%

See accompanying notes to financial statements.

19  |

Portfolio of Investments – as of July 31, 2018 (Unaudited)

Natixis Sustainable Future 2025 Fund

Shares		Description	Value (†)
	Common Stocks — 60.0% of Net Assets
		Aerospace & Defense — 0.1%
	82	Arconic, Inc.	$	1,779
		Air Freight & Logistics — 0.2%
	49	United Parcel Service, Inc., Class B		5,875
		Auto Components — 1.7%
	387	Aptiv PLC		37,953
	136	Delphi Technologies PLC		6,143
	10	Goodyear Tire & Rubber Co. (The)		242
	637	Valeo S.A., Sponsored ADR		15,594
				59,932
		Automobiles — 1.7%
	1,565	Byd Co. Ltd., ADR		17,818
	303	Toyota Motor Corp., Sponsored ADR		39,947
				57,765
		Banks — 3.1%
	411	Bank of America Corp.		12,692
	62	Citizens Financial Group, Inc.		2,466
	165	Huntington Bancshares, Inc.		2,548
	1,180	KBC Group NV, Sponsored ADR		45,418
	152	KeyCorp		3,172
	439	People’s United Financial, Inc.		8,003
	191	Signature Bank		20,955
	25	U.S. Bancorp		1,325
	139	Wells Fargo & Co.		7,963
	61	Zions Bancorporation		3,154
				107,696
		Beverages — 0.4%
	53	Brown-Forman Corp., Class B		2,821
	138	Coca-Cola Co. (The)		6,435
	15	Molson Coors Brewing Co., Class B		1,005
	47	PepsiCo, Inc.		5,405
				15,666
		Biotechnology — 1.0%
	11	AbbVie, Inc.		1,015
	11	Amgen, Inc.		2,162
	409	Gilead Sciences, Inc.		31,832
				35,009
		Building Products — 1.1%
	527	A.O. Smith Corp.		31,373
	230	Johnson Controls International PLC		8,627
				40,000
		Capital Markets — 1.3%
	11	Affiliated Managers Group, Inc.		1,760
	11	Ameriprise Financial, Inc.		1,602
	110	Bank of New York Mellon Corp. (The)		5,882
	12	BlackRock, Inc.		6,033
	17	Charles Schwab Corp. (The)		868
	20	CME Group, Inc.		3,182
	85	Franklin Resources, Inc.		2,917
	33	Goldman Sachs Group, Inc. (The)		7,835
	15	Intercontinental Exchange, Inc.		1,109
	48	Invesco Ltd.		1,295
	12	Legg Mason, Inc.		410
	6	Moody’s Corp.		1,027
	15	Nasdaq, Inc.		1,371
	53	Northern Trust Corp.		5,789
	5	S&P Global, Inc.		1,002
	44	State Street Corp.		3,886
				45,968
		Chemicals — 4.5%
	13	Air Products & Chemicals, Inc.		2,134
	454	Chr. Hansen Holding AS, Sponsored ADR		23,479
	402	Ecolab, Inc.		56,561
	104	International Flavors & Fragrances, Inc.		13,807
	251	Novozymes AS, Sponsored ADR		13,198
	50	Praxair, Inc.		8,375
	1,850	Symrise AG, Sponsored ADR		41,708
				159,262
		Commercial Services & Supplies — 0.1%
	14	Stericycle, Inc.(a)		978
	23	Waste Management, Inc.		2,070
				3,048
		Communications Equipment — 0.4%
	293	Cisco Systems, Inc.		12,391
	11	Motorola Solutions, Inc.		1,334
				13,725
		Construction & Engineering — 0.1%
	45	Fluor Corp.		2,306
		Consumer Finance — 0.3%
	40	American Express Co.		3,981
	66	Discover Financial Services		4,713
	38	Navient Corp.		502
	40	Synchrony Financial		1,157
				10,353
		Containers & Packaging — 0.2%
	71	Ball Corp.		2,767
	12	Crown Holdings, Inc.(a)		543
	47	International Paper Co.		2,525
				5,835
		Distributors — 0.1%
	36	Genuine Parts Co.		3,503
		Diversified Consumer Services — 0.0%
	16	H&R Block, Inc.		402
		Diversified Telecommunication Services — 0.7%
	409	AT&T, Inc.		13,076
	200	Verizon Communications, Inc.		10,328
				23,404
		Electric Utilities — 1.1%
	234	NextEra Energy, Inc.		39,204
	14	Xcel Energy, Inc.		656
				39,860
		Electrical Equipment — 3.2%
	167	Acuity Brands, Inc.		23,218
	741	Eaton Corp. PLC		61,629
	1,230	Vestas Wind Systems AS, Sponsored ADR		26,359
				111,206
		Electronic Equipment, Instruments & Components — 0.0%
	12	TE Connectivity Ltd.		1,123
		Food & Staples Retailing — 0.2%
	35	Kroger Co. (The)		1,015
	79	Sysco Corp.		5,309
	21	Walmart, Inc.		1,874
				8,198
		Food Products — 1.1%
	66	Campbell Soup Co.		2,699
	56	Conagra Brands, Inc.		2,056
	1,376	Danone S.A., Sponsored ADR		21,521

See accompanying notes to financial statements.

|  20

Portfolio of Investments – as of July 31, 2018 (Unaudited)

Natixis Sustainable Future 2025 Fund – (continued)

Shares		Description	Value (†)
		Food Products — continued
	21	General Mills, Inc.	$	967
	21	Hershey Co. (The)		2,062
	16	Hormel Foods Corp.		575
	13	J.M. Smucker Co. (The)		1,445
	30	Kellogg Co.		2,131
	86	Mondelez International, Inc., Class A		3,731
				37,187
		Health Care Equipment & Supplies — 3.7%
	53	Baxter International, Inc.		3,840
	1,420	Coloplast AS, Sponsored ADR		15,400
	545	Danaher Corp.		55,906
	15	DENTSPLY SIRONA, Inc.		722
	685	Essilor International Cie Generale d’Optique S.A., Sponsored ADR		50,481
	48	Medtronic PLC		4,331
				130,680
		Health Care Providers & Services — 1.3%
	15	Aetna, Inc.		2,826
	20	Anthem, Inc.		5,060
	4	Cigna Corp.		718
	59	CVS Health Corp.		3,827
	21	DaVita, Inc.(a)		1,476
	6	Envision Healthcare Corp.(a)		265
	39	Express Scripts Holding Co.(a)		3,099
	809	Fresenius SE & Co. KGaA, Sponsored ADR		15,610
	20	HCA Healthcare, Inc.		2,484
	8	Humana, Inc.		2,513
	2	Laboratory Corp. of America Holdings(a)		351
	8	Quest Diagnostics, Inc.		862
	18	UnitedHealth Group, Inc.		4,558
	2	Universal Health Services, Inc., Class B		244
				43,893
		Home Construction — 0.4%
	305	Geberit AG, ADR		13,057
		Hotels, Restaurants & Leisure — 0.1%
	9	Carnival Corp.		533
	5	McDonald’s Corp.		788
	82	MGM Resorts International		2,572
	20	Starbucks Corp.		1,048
				4,941
		Household Durables — 0.8%
	8	Lennar Corp., Class A		418
	1,558	Sekisui House Ltd., Sponsored ADR		26,603
	2	Whirlpool Corp.		262
				27,283
		Household Products — 0.4%
	8	Church & Dwight Co., Inc.		447
	12	Clorox Co. (The)		1,622
	47	Colgate-Palmolive Co.		3,150
	97	Procter & Gamble Co. (The)		7,845
				13,064
		Independent Power & Renewable Electricity Producers — 0.2%
	56	Ormat Technologies, Inc.		3,038
	164	Pattern Energy Group, Inc.		3,045
				6,083
		Industrial Conglomerates — 1.4%
	322	General Electric Co.		4,389
	149	Roper Technologies, Inc.		44,983
				49,372
		Industrial Other — 0.0%
	27	Iron Mountain, Inc.		948
		Insurance — 4.3%
	21	Aflac, Inc.		977
	1,385	AIA Group Ltd., Sponsored ADR		48,697
	780	Allianz SE, Sponsored ADR		17,203
	9	Allstate Corp. (The)		856
	23	Brighthouse Financial, Inc.(a)		999
	57	Hartford Financial Services Group, Inc. (The)		3,004
	1,351	Legal & General Group PLC, Sponsored ADR		23,926
	52	Lincoln National Corp.		3,541
	97	MetLife, Inc.		4,437
	55	Prudential Financial, Inc.		5,550
	678	Prudential PLC, Sponsored ADR		32,083
	78	Torchmark Corp.		6,870
	58	Unum Group		2,304
				150,447
		Internet & Direct Marketing Retail — 1.3%
	23	Amazon.com, Inc.(a)		40,881
	1	Booking Holdings, Inc.(a)		2,029
	4	Netflix, Inc.(a)		1,350
	7	TripAdvisor, Inc.(a)		406
				44,666
		Internet Software & Services — 3.9%
	5	Akamai Technologies, Inc.(a)		377
	74	Alphabet, Inc., Class A(a)		90,814
	1	Alphabet, Inc., Class C(a)		1,217
	248	Facebook, Inc., Class A(a)		42,800
				135,208
		IT Services — 4.3%
	5	Accenture PLC, Class A		797
	17	Cognizant Technology Solutions Corp., Class A		1,386
	37	International Business Machines Corp.		5,362
	453	MasterCard, Inc., Class A		89,694
	17	PayPal Holdings, Inc.(a)		1,396
	374	Visa, Inc., Class A		51,141
	62	Western Union Co. (The)		1,250
				151,026
		Life Sciences Tools & Services — 2.5%
	17	Agilent Technologies, Inc.		1,123
	39	Illumina, Inc.(a)		12,650
	321	Thermo Fisher Scientific, Inc.		75,284
				89,057
		Machinery — 1.1%
	52	Caterpillar, Inc.		7,477
	6	Cummins, Inc.		857
	30	Deere & Co.		4,344
	57	Flowserve Corp.		2,527
	4	Ingersoll-Rand PLC		394
	16	Parker Hannifin Corp.		2,705
	191	Watts Water Technologies, Inc., Series A		16,340
	46	Xylem, Inc.		3,522
				38,166
		Media — 0.4%
	33	CBS Corp., Class B		1,738
	15	Interpublic Group of Cos., Inc. (The)		338
	71	News Corp., Class A		1,070
	4	Omnicom Group, Inc.		276
	56	Twenty-First Century Fox, Inc., Class A		2,520
	24	Twenty-First Century Fox, Inc., Class B		1,066
	64	Walt Disney Co. (The)		7,268
				14,276

See accompanying notes to financial statements.

21  |

Portfolio of Investments – as of July 31, 2018 (Unaudited)

Natixis Sustainable Future 2025 Fund – (continued)

Shares		Description	Value (†)
		Metals & Mining — 0.1%
	124	Newmont Mining Corp.	$	4,548
		Multiline Retail — 0.1%
	15	Kohl’s Corp.		1,108
	10	Macy’s, Inc.		398
	21	Target Corp.		1,694
				3,200
		Personal Products — 1.2%
	111	Estee Lauder Cos., Inc. (The), Class A		14,978
	489	Unilever NV		28,098
				43,076
		Pharmaceuticals — 2.5%
	21	Allergan PLC		3,866
	55	Bristol-Myers Squibb Co.		3,231
	34	Eli Lilly & Co.		3,359
	90	Johnson & Johnson		11,927
	86	Merck & Co., Inc.		5,665
	52	Mylan NV(a)		1,940
	983	Novo Nordisk AS, Sponsored ADR		48,924
	216	Pfizer, Inc.		8,625
				87,537
		Professional Services — 0.1%
	31	IHS Markit Ltd.(a)		1,644
	31	Nielsen Holdings PLC		730
	2	Verisk Analytics, Inc.(a)		221
				2,595
		Real Estate Management & Development — 0.0%
	24	CBRE Group, Inc., Class A(a)		1,195
		REITs – Apartments — 0.1%
	4	AvalonBay Communities, Inc.		707
	43	Equity Residential		2,814
	5	Essex Property Trust, Inc.		1,202
	4	Mid-America Apartment Communities, Inc.		403
				5,126
		REITs – Diversified — 0.5%
	82	Crown Castle International Corp.		9,088
	12	Digital Realty Trust, Inc.		1,457
	2	Equinix, Inc.		879
	19	Vornado Realty Trust		1,366
	88	Weyerhaeuser Co.		3,008
				15,798
		REITs – Health Care — 0.2%
	46	HCP, Inc.		1,191
	31	Ventas, Inc.		1,748
	63	Welltower, Inc.		3,944
				6,883
		REITs – Hotels — 0.1%
	113	Host Hotels & Resorts, Inc.		2,366
		REITs – Office Property — 0.0%
	11	Boston Properties, Inc.		1,381
		REITs – Regional Malls — 0.0%
	6	Macerich Co. (The)		354
		REITs – Single Tenant — 0.0%
	6	Realty Income Corp.		335
		REITs – Storage — 0.1%
	12	Public Storage		2,614
		Road & Rail — 0.5%
	28	Kansas City Southern		3,256
	36	Norfolk Southern Corp.		6,084
	45	Union Pacific Corp.		6,745
				16,085
		Semiconductors & Semiconductor Equipment — 1.1%
	47	Advanced Micro Devices, Inc.(a)		861
	25	Applied Materials, Inc.		1,216
	97	ASML Holding NV, (Registered)		20,758
	59	First Solar, Inc.(a)		3,089
	170	Intel Corp.		8,177
	7	NVIDIA Corp.		1,714
	18	QUALCOMM, Inc.		1,154
	11	Texas Instruments, Inc.		1,224
	1	Xilinx, Inc.		72
				38,265
		Software — 3.1%
	6	Autodesk, Inc.(a)		770
	4	Citrix Systems, Inc.(a)		440
	67	Ellie Mae, Inc.(a)		6,648
	739	Microsoft Corp.		78,393
	488	Oracle Corp.		23,268
	19	Symantec Corp.		384
				109,903
		Specialty Retail — 0.2%
	13	Best Buy Co., Inc.		975
	17	Gap, Inc. (The)		513
	15	Home Depot, Inc. (The)		2,963
	22	Lowe’s Cos., Inc.		2,186
	9	Tiffany & Co.		1,238
				7,875
		Technology Hardware, Storage & Peripherals — 0.4%
	28	Apple, Inc.		5,328
	170	Hewlett Packard Enterprise Co.		2,625
	55	HP, Inc.		1,270
	18	NetApp, Inc.		1,395
	7	Seagate Technology PLC		368
	18	Western Digital Corp.		1,263
	29	Xerox Corp.		753
				13,002
		Textiles, Apparel & Luxury Goods — 0.1%
	16	Hanesbrands, Inc.		356
	41	NIKE, Inc., Class B		3,153
	4	PVH Corp.		614
	7	VF Corp.		645
				4,768
		Trading Companies & Distributors — 0.2%
	40	Fastenal Co.		2,277
	15	W.W. Grainger, Inc.		5,199
				7,476
		Water Utilities — 0.7%
	277	American Water Works Co., Inc.		24,445
		Total Common Stocks (Identified Cost $1,751,767)		2,100,096

See accompanying notes to financial statements.

|  22

Portfolio of Investments – as of July 31, 2018 (Unaudited)

Natixis Sustainable Future 2025 Fund – (continued)

Shares		Description	Value (†)
	Affiliated Mutual Funds — 36.5%
	17,346	Loomis Sayles Inflation Protected Securities Fund, Class N	$	177,622
	28,729	Loomis Sayles Limited Term Government and Agency Fund, Class N		320,042
	79,316	Mirova Global Green Bond Fund, Class N		782,847
		Total Affiliated Mutual Funds (Identified Cost $1,301,743)		1,280,511
		Total Investments — 96.5% (Identified Cost $3,053,510)		3,380,607
		Other assets less liabilities — 3.5%		121,710
		Net Assets — 100.0%	$	3,502,317
	(†)	See Note 2 of Notes to Financial Statements.
	(a)	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, 2018 (Unaudited)

Chemicals	4.5	%
IT Services	4.3
Insurance	4.3
Internet Software & Services	3.9
Health Care Equipment & Supplies	3.7
Electrical Equipment	3.2
Software	3.1
Banks	3.1
Life Sciences Tools & Services	2.5
Pharmaceuticals	2.5
Other Investments, less than 2% each	24.9
Affiliated Mutual Funds*	36.5
Total Investments	96.5
Other assets less liabilities	3.5
Net Assets	100.0	%

* For more detailed information regarding industry classification, financial statements of affiliated mutual funds (See Note 5 of Notes to Financial Statements) are available, without charge, on the Funds’ website at im.natixis.com.

Asset Allocation Summary at July 31, 2018 (Unaudited)

Equity	60.0	%
Fixed Income	36.5
Total Investments	96.5
Other assets less liabilities	3.5
Net Assets	100.0	%

See accompanying notes to financial statements.

23  |

Portfolio of Investments – as of July 31, 2018 (Unaudited)

Natixis Sustainable Future 2030 Fund

Shares		Description	Value (†)
	Common Stocks — 69.0% of Net Assets
		Aerospace & Defense — 0.1%
	83	Arconic, Inc.	$	1,800
		Air Freight & Logistics — 0.2%
	56	United Parcel Service, Inc., Class B		6,714
		Auto Components — 1.8%
	369	Aptiv PLC		36,188
	130	Delphi Technologies PLC		5,872
	10	Goodyear Tire & Rubber Co. (The)		242
	607	Valeo S.A., Sponsored ADR		14,859
				57,161
		Automobiles — 1.8%
	1,518	Byd Co. Ltd., ADR		17,282
	294	Toyota Motor Corp., Sponsored ADR		38,761
				56,043
		Banks — 3.6%
	479	Bank of America Corp.		14,792
	73	Citizens Financial Group, Inc.		2,904
	188	Huntington Bancshares, Inc.		2,903
	1,146	KBC Group NV, Sponsored ADR		44,110
	177	KeyCorp		3,694
	514	People’s United Financial, Inc.		9,370
	188	Signature Bank		20,625
	25	U.S. Bancorp		1,325
	162	Wells Fargo & Co.		9,281
	70	Zions Bancorporation		3,619
				112,623
		Beverages — 0.6%
	62	Brown-Forman Corp., Class B		3,300
	160	Coca-Cola Co. (The)		7,461
	15	Molson Coors Brewing Co., Class B		1,005
	57	PepsiCo, Inc.		6,555
				18,321
		Biotechnology — 1.1%
	13	AbbVie, Inc.		1,199
	11	Amgen, Inc.		2,162
	396	Gilead Sciences, Inc.		30,821
				34,182
		Building Products — 1.3%
	512	A.O. Smith Corp.		30,479
	268	Johnson Controls International PLC		10,053
				40,532
		Capital Markets — 1.7%
	12	Affiliated Managers Group, Inc.		1,920
	12	Ameriprise Financial, Inc.		1,748
	129	Bank of New York Mellon Corp. (The)		6,898
	12	BlackRock, Inc.		6,033
	21	Charles Schwab Corp. (The)		1,072
	24	CME Group, Inc.		3,819
	91	Franklin Resources, Inc.		3,123
	38	Goldman Sachs Group, Inc. (The)		9,022
	14	Intercontinental Exchange, Inc.		1,035
	47	Invesco Ltd.		1,269
	11	Legg Mason, Inc.		375
	7	Moody’s Corp.		1,198
	17	Nasdaq, Inc.		1,554
	60	Northern Trust Corp.		6,553
	6	S&P Global, Inc.		1,203
	51	State Street Corp.		4,504
				51,326
		Chemicals — 5.1%
	14	Air Products & Chemicals, Inc.		2,298
	454	Chr. Hansen Holding AS, Sponsored ADR		23,479
	402	Ecolab, Inc.		56,561
	101	International Flavors & Fragrances, Inc.		13,409
	239	Novozymes AS, Sponsored ADR		12,567
	59	Praxair, Inc.		9,883
	1,810	Symrise AG, Sponsored ADR		40,806
				159,003
		Commercial Services & Supplies — 0.1%
	14	Stericycle, Inc.(a)		978
	26	Waste Management, Inc.		2,340
				3,318
		Communications Equipment — 0.5%
	337	Cisco Systems, Inc.		14,252
	11	Motorola Solutions, Inc.		1,334
				15,586
		Construction & Engineering — 0.1%
	47	Fluor Corp.		2,409
		Consumer Finance — 0.4%
	47	American Express Co.		4,677
	75	Discover Financial Services		5,356
	52	Navient Corp.		687
	40	Synchrony Financial		1,158
				11,878
		Containers & Packaging — 0.2%
	71	Ball Corp.		2,767
	14	Crown Holdings, Inc.(a)		634
	50	International Paper Co.		2,686
				6,087
		Distributors — 0.1%
	40	Genuine Parts Co.		3,892
		Diversified Consumer Services — 0.0%
	15	H&R Block, Inc.		377
		Diversified Telecommunication Services — 0.9%
	466	AT&T, Inc.		14,898
	223	Verizon Communications, Inc.		11,516
				26,414
		Electric Utilities — 1.3%
	228	NextEra Energy, Inc.		38,199
	14	Xcel Energy, Inc.		656
				38,855
		Electrical Equipment — 3.5%
	167	Acuity Brands, Inc.		23,218
	729	Eaton Corp. PLC		60,631
	1,193	Vestas Wind Systems AS, Sponsored ADR		25,566
				109,415
		Electronic Equipment, Instruments & Components — 0.0%
	14	TE Connectivity Ltd.		1,310
		Food & Staples Retailing — 0.3%
	37	Kroger Co. (The)		1,073
	91	Sysco Corp.		6,116
	22	Walmart, Inc.		1,963
				9,152
		Food Products — 1.2%
	80	Campbell Soup Co.		3,272
	61	Conagra Brands, Inc.		2,239
	1,334	Danone S.A., Sponsored ADR		20,864

See accompanying notes to financial statements.

|  24

Portfolio of Investments – as of July 31, 2018 (Unaudited)

Natixis Sustainable Future 2030 Fund – (continued)

Shares			Description	Value (†)
			Food Products — continued
	24		General Mills, Inc.	$	1,105
	22		Hershey Co. (The)		2,161
	16		Hormel Foods Corp.		575
	15		J.M. Smucker Co. (The)		1,667
	32		Kellogg Co.		2,273
	91		Mondelez International, Inc., Class A		3,948
					38,104
			Health Care Equipment & Supplies — 4.2%
	62		Baxter International, Inc.		4,492
	1,352		Coloplast AS, Sponsored ADR		14,663
	533		Danaher Corp.		54,675
	15		DENTSPLY SIRONA, Inc.		722
	674		Essilor International Cie Generale d’Optique S.A., Sponsored ADR		49,670
	54		Medtronic PLC		4,872
					129,094
			Health Care Providers & Services — 1.5%
	16		Aetna, Inc.		3,014
	22		Anthem, Inc.		5,566
	6		Cigna Corp.		1,076
	66		CVS Health Corp.		4,281
	24		DaVita, Inc.(a)		1,687
	6		Envision Healthcare Corp.(a)		265
	39		Express Scripts Holding Co.(a)		3,099
	819		Fresenius SE & Co. KGaA, Sponsored ADR		15,803
	20		HCA Healthcare, Inc.		2,485
	9	��	Humana, Inc.		2,828
	2		Laboratory Corp. of America Holdings(a)		351
	10		Quest Diagnostics, Inc.		1,077
	20		UnitedHealth Group, Inc.		5,064
	2		Universal Health Services, Inc., Class B		244
					46,840
			Home Construction — 0.4%
	290		Geberit AG, ADR		12,415
			Hotels, Restaurants & Leisure — 0.2%
	9		Carnival Corp.		533
	6		McDonald’s Corp.		945
	82		MGM Resorts International		2,572
	19		Starbucks Corp.		996
					5,046
			Household Durables — 0.8%
	7		Lennar Corp., Class A		366
	1,483		Sekisui House Ltd., Sponsored ADR		25,322
	2		Whirlpool Corp.		262
					25,950
			Household Products — 0.5%
	7		Church & Dwight Co., Inc.		391
	14		Clorox Co. (The)		1,892
	50		Colgate-Palmolive Co.		3,351
	115		Procter & Gamble Co. (The)		9,301
					14,935
			Independent Power & Renewable Electricity Producers — 0.2%
	66		Ormat Technologies, Inc.		3,580
	194		Pattern Energy Group, Inc.		3,603
					7,183
			Industrial Conglomerates — 1.6%
	375		General Electric Co.		5,111
	144		Roper Technologies, Inc.		43,474
					48,585
			Industrial Other — 0.0%
	25		Iron Mountain, Inc.		878
			Insurance — 4.9%
	25		Aflac, Inc.		1,164
	1,346		AIA Group Ltd., Sponsored ADR		47,325
	743		Allianz SE, Sponsored ADR		16,387
	9		Allstate Corp. (The)		856
	21		Brighthouse Financial, Inc.(a)		912
	68		Hartford Financial Services Group, Inc. (The)		3,584
	1,338		Legal & General Group PLC, Sponsored ADR		23,696
	55		Lincoln National Corp.		3,745
	106		MetLife, Inc.		4,848
	64		Prudential Financial, Inc.		6,458
	665		Prudential PLC, Sponsored ADR		31,468
	91		Torchmark Corp.		8,014
	61		Unum Group		2,424
					150,881
			Internet & Direct Marketing Retail — 1.5%
	24		Amazon.com, Inc.(a)		42,659
	1		Booking Holdings, Inc.(a)		2,029
	5		Netflix, Inc.(a)		1,687
	7		TripAdvisor, Inc.(a)		406
					46,781
			Internet Software & Services — 4.4%
	6		Akamai Technologies, Inc.(a)		452
	73		Alphabet, Inc., Class A(a)		89,587
	2		Alphabet, Inc., Class C(a)		2,434
	245		Facebook, Inc., Class A(a)		42,282
					134,755
			IT Services — 4.8%
	6		Accenture PLC, Class A		956
	20		Cognizant Technology Solutions Corp., Class A		1,630
	44		International Business Machines Corp.		6,377
	439		MasterCard, Inc., Class A		86,922
	20		PayPal Holdings, Inc.(a)		1,643
	361		Visa, Inc., Class A		49,363
	65		Western Union Co. (The)		1,310
					148,201
			Life Sciences Tools & Services — 2.8%
	17		Agilent Technologies, Inc.		1,123
	37		Illumina, Inc.(a)		12,001
	310		Thermo Fisher Scientific, Inc.		72,704
					85,828
			Machinery — 1.3%
	61		Caterpillar, Inc.		8,772
	7		Cummins, Inc.		1,000
	35		Deere & Co.		5,067
	60		Flowserve Corp.		2,660
	4		Ingersoll-Rand PLC		394
	17		Parker Hannifin Corp.		2,874
	195		Watts Water Technologies, Inc., Series A		16,682
	53		Xylem, Inc.		4,058
					41,507
			Media — 0.5%
	33		CBS Corp., Class B		1,738
	14		Interpublic Group of Cos., Inc. (The)		316
	71		News Corp., Class A		1,070
	4		Omnicom Group, Inc.		275
	59		Twenty-First Century Fox, Inc., Class A		2,655
	29		Twenty-First Century Fox, Inc., Class B		1,288
	75		Walt Disney Co. (The)		8,517
					15,859

See accompanying notes to financial statements.

25  |

Portfolio of Investments – as of July 31, 2018 (Unaudited)

Natixis Sustainable Future 2030 Fund – (continued)

Shares		Description	Value (†)
		Metals & Mining — 0.2%
	155	Newmont Mining Corp.	$	5,686
		Multiline Retail — 0.1%
	14	Kohl’s Corp.		1,034
	11	Macy’s, Inc.		437
	22	Target Corp.		1,775
				3,246
		Personal Products — 1.4%
	109	Estee Lauder Cos., Inc. (The), Class A		14,709
	483	Unilever NV		27,753
				42,462
		Pharmaceuticals — 3.0%
	22	Allergan PLC		4,050
	61	Bristol-Myers Squibb Co.		3,584
	38	Eli Lilly & Co.		3,755
	105	Johnson & Johnson		13,914
	96	Merck & Co., Inc.		6,323
	58	Mylan NV(a)		2,164
	965	Novo Nordisk AS, Sponsored ADR		48,028
	248	Pfizer, Inc.		9,903
				91,721
		Professional Services — 0.1%
	31	IHS Markit Ltd.(a)		1,644
	32	Nielsen Holdings PLC		754
	3	Verisk Analytics, Inc.(a)		332
				2,730
		Real Estate Management & Development — 0.0%
	23	CBRE Group, Inc., Class A(a)		1,145
		REITs – Apartments — 0.2%
	5	AvalonBay Communities, Inc.		884
	42	Equity Residential		2,748
	6	Essex Property Trust, Inc.		1,443
	3	Mid-America Apartment Communities, Inc.		302
				5,377
		REITs – Diversified — 0.6%
	96	Crown Castle International Corp.		10,640
	12	Digital Realty Trust, Inc.		1,457
	2	Equinix, Inc.		879
	21	Vornado Realty Trust		1,510
	90	Weyerhaeuser Co.		3,076
				17,562
		REITs – Health Care — 0.2%
	48	HCP, Inc.		1,243
	35	Ventas, Inc.		1,973
	74	Welltower, Inc.		4,633
				7,849
		REITs – Hotels — 0.1%
	118	Host Hotels & Resorts, Inc.		2,471
		REITs – Office Property — 0.0%
	12	Boston Properties, Inc.		1,506
		REITs – Regional Malls — 0.0%
	6	Macerich Co. (The)		354
		REITs – Single Tenant — 0.0%
	7	Realty Income Corp.		390
		REITs – Storage — 0.1%
	13	Public Storage		2,832
		Road & Rail — 0.6%
	28	Kansas City Southern		3,256
	43	Norfolk Southern Corp.		7,267
	51	Union Pacific Corp.		7,644
				18,167
		Semiconductors & Semiconductor Equipment — 1.3%
	48	Advanced Micro Devices, Inc.(a)		880
	31	Applied Materials, Inc.		1,508
	93	ASML Holding NV, (Registered)		19,902
	67	First Solar, Inc.(a)		3,507
	195	Intel Corp.		9,379
	8	NVIDIA Corp.		1,959
	17	QUALCOMM, Inc.		1,090
	11	Texas Instruments, Inc.		1,224
	1	Xilinx, Inc.		72
				39,521
		Software — 3.5%
	8	Autodesk, Inc.(a)		1,028
	4	Citrix Systems, Inc.(a)		440
	65	Ellie Mae, Inc.(a)		6,449
	721	Microsoft Corp.		76,484
	487	Oracle Corp.		23,220
	20	Symantec Corp.		404
				108,025
		Specialty Retail — 0.3%
	13	Best Buy Co., Inc.		975
	18	Gap, Inc. (The)		543
	17	Home Depot, Inc. (The)		3,358
	24	Lowe’s Cos., Inc.		2,384
	10	Tiffany & Co.		1,376
				8,636
		Technology Hardware, Storage & Peripherals — 0.5%
	32	Apple, Inc.		6,089
	189	Hewlett Packard Enterprise Co.		2,918
	62	HP, Inc.		1,431
	21	NetApp, Inc.		1,628
	7	Seagate Technology PLC		369
	20	Western Digital Corp.		1,403
	27	Xerox Corp.		701
				14,539
		Textiles, Apparel & Luxury Goods — 0.2%
	16	Hanesbrands, Inc.		356
	47	NIKE, Inc., Class B		3,615
	4	PVH Corp.		614
	7	VF Corp.		645
				5,230
		Trading Companies & Distributors — 0.3%
	48	Fastenal Co.		2,733
	16	W.W. Grainger, Inc.		5,545
				8,278
		Water Utilities — 0.8%
	271	American Water Works Co., Inc.		23,916
		Total Common Stocks (Identified Cost $1,784,036)		2,130,883

See accompanying notes to financial statements.

|  26

Portfolio of Investments – as of July 31, 2018 (Unaudited)

Natixis Sustainable Future 2030 Fund – (continued)

Shares		Description	Value (†)
	Affiliated Mutual Funds — 26.7%
	15,404	Loomis Sayles Inflation Protected Securities Fund, Class N	$	157,737
	17,089	Loomis Sayles Limited Term Government and Agency Fund, Class N		190,372
	48,165	Mirova Global Green Bond Fund, Class N		475,389
		Total Affiliated Mutual Funds (Identified Cost $837,455)		823,498
		Total Investments — 95.7% (Identified Cost $2,621,491)		2,954,381
		Other assets less liabilities — 4.3%		131,915
		Net Assets — 100.0%	$	3,086,296
	(†)	See Note 2 of Notes to Financial Statements.
	(a)	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, 2018 (Unaudited)

Chemicals	5.1	%
Insurance	4.9
IT Services	4.8
Internet Software & Services	4.4
Health Care Equipment & Supplies	4.2
Banks	3.6
Electrical Equipment	3.5
Software	3.5
Pharmaceuticals	3.0
Life Sciences Tools & Services	2.8
Other Investments, less than 2% each	29.2
Affiliated Mutual Funds*	26.7
Total Investments	95.7
Other assets less liabilities	4.3
Net Assets	100.0	%

* For more detailed information regarding industry classification, financial statements of affiliated mutual funds (See Note 5 of Notes to Financial Statements) are available, without charge, on the Funds’ website at im.natixis.com.

Asset Allocation Summary at July 31, 2018 (Unaudited)

Equity		69.0	%
Fixed Income		26.7
Total Investments	��	95.7
Other assets less liabilities		4.3
Net Assets		100.0	%

See accompanying notes to financial statements.

27  |

Portfolio of Investments – as of July 31, 2018 (Unaudited)

Natixis Sustainable Future 2035 Fund

Shares		Description	Value (†)
	Common Stocks — 77.3% of Net Assets
		Aerospace & Defense — 0.1%
	98	Arconic, Inc.	$	2,126
		Air Freight & Logistics — 0.2%
	61	United Parcel Service, Inc., Class B		7,313
		Auto Components — 2.1%
	418	Aptiv PLC		40,993
	139	Delphi Technologies PLC		6,279
	10	Goodyear Tire & Rubber Co. (The)		242
	683	Valeo S.A., Sponsored ADR		16,720
				64,234
		Automobiles — 2.0%
	1,702	Byd Co. Ltd., ADR		19,377
	333	Toyota Motor Corp., Sponsored ADR		43,903
				63,280
		Banks — 4.1%
	542	Bank of America Corp.		16,737
	83	Citizens Financial Group, Inc.		3,302
	218	Huntington Bancshares, Inc.		3,366
	1,287	KBC Group NV, Sponsored ADR		49,537
	202	KeyCorp		4,216
	563	People’s United Financial, Inc.		10,264
	213	Signature Bank		23,368
	30	U.S. Bancorp		1,590
	174	Wells Fargo & Co.		9,968
	80	Zions Bancorporation		4,136
				126,484
		Beverages — 0.7%
	74	Brown-Forman Corp., Class B		3,938
	172	Coca-Cola Co. (The)		8,021
	17	Molson Coors Brewing Co., Class B		1,139
	61	PepsiCo, Inc.		7,015
				20,113
		Biotechnology — 1.3%
	15	AbbVie, Inc.		1,383
	14	Amgen, Inc.		2,752
	446	Gilead Sciences, Inc.		34,712
				38,847
		Building Products — 1.5%
	576	A.O. Smith Corp.		34,289
	303	Johnson Controls International PLC		11,366
				45,655
		Capital Markets — 1.8%
	14	Affiliated Managers Group, Inc.		2,240
	14	Ameriprise Financial, Inc.		2,039
	139	Bank of New York Mellon Corp. (The)		7,432
	13	BlackRock, Inc.		6,536
	23	Charles Schwab Corp. (The)		1,174
	24	CME Group, Inc.		3,819
	106	Franklin Resources, Inc.		3,638
	44	Goldman Sachs Group, Inc. (The)		10,447
	16	Intercontinental Exchange, Inc.		1,183
	54	Invesco Ltd.		1,458
	13	Legg Mason, Inc.		444
	8	Moody’s Corp.		1,369
	21	Nasdaq, Inc.		1,919
	65	Northern Trust Corp.		7,099
	7	S&P Global, Inc.		1,403
	54	State Street Corp.		4,769
				56,969
		Chemicals — 5.7%
	15	Air Products & Chemicals, Inc.		2,462
	510	Chr. Hansen Holding AS, Sponsored ADR		26,375
	450	Ecolab, Inc.		63,315
	113	International Flavors & Fragrances, Inc.		15,002
	269	Novozymes AS, Sponsored ADR		14,144
	66	Praxair, Inc.		11,055
	2,037	Symrise AG, Sponsored ADR		45,924
				178,277
		Commercial Services & Supplies — 0.1%
	16	Stericycle, Inc.(a)		1,118
	25	Waste Management, Inc.		2,250
				3,368
		Communications Equipment — 0.6%
	383	Cisco Systems, Inc.		16,197
	12	Motorola Solutions, Inc.		1,456
				17,653
		Construction & Engineering — 0.1%
	56	Fluor Corp.		2,870
		Consumer Finance — 0.4%
	50	American Express Co.		4,976
	82	Discover Financial Services		5,856
	58	Navient Corp.		766
	55	Synchrony Financial		1,592
				13,190
		Containers & Packaging — 0.2%
	85	Ball Corp.		3,313
	16	Crown Holdings, Inc.(a)		724
	59	International Paper Co.		3,170
				7,207
		Distributors — 0.2%
	47	Genuine Parts Co.		4,574
		Diversified Consumer Services — 0.0%
	16	H&R Block, Inc.		403
		Diversified Telecommunication Services — 1.0%
	527	AT&T, Inc.		16,848
	264	Verizon Communications, Inc.		13,633
				30,481
		Electric Utilities — 1.4%
	255	NextEra Energy, Inc.		42,723
	17	Xcel Energy, Inc.		796
				43,519
		Electrical Equipment — 3.9%
	184	Acuity Brands, Inc.		25,581
	821	Eaton Corp. PLC		68,283
	1,338	Vestas Wind Systems AS, Sponsored ADR		28,673
				122,537
		Electronic Equipment, Instruments & Components — 0.1%
	16	TE Connectivity Ltd.		1,497
		Food & Staples Retailing — 0.3%
	44	Kroger Co. (The)		1,276
	100	Sysco Corp.		6,721
	26	Walmart, Inc.		2,320
				10,317
		Food Products — 1.4%
	86	Campbell Soup Co.		3,517
	73	Conagra Brands, Inc.		2,680
	1,496	Danone S.A., Sponsored ADR		23,397

See accompanying notes to financial statements.

|  28

Portfolio of Investments – as of July 31, 2018 (Unaudited)

Natixis Sustainable Future 2035 Fund – (continued)

Shares		Description	Value (†)
		Food Products — continued
	26	General Mills, Inc.	$	1,198
	27	Hershey Co. (The)		2,652
	17	Hormel Foods Corp.		611
	17	J.M. Smucker Co. (The)		1,889
	36	Kellogg Co.		2,557
	107	Mondelez International, Inc., Class A		4,642
				43,143
		Health Care Equipment & Supplies — 4.7%
	67	Baxter International, Inc.		4,854
	1,521	Coloplast AS, Sponsored ADR		16,495
	603	Danaher Corp.		61,856
	18	DENTSPLY SIRONA, Inc.		866
	741	Essilor International Cie Generale d’Optique S.A., Sponsored ADR		54,608
	63	Medtronic PLC		5,685
				144,364
		Health Care Providers & Services — 1.7%
	20	Aetna, Inc.		3,768
	25	Anthem, Inc.		6,325
	6	Cigna Corp.		1,077
	75	CVS Health Corp.		4,864
	29	DaVita, Inc.(a)		2,038
	7	Envision Healthcare Corp.(a)		310
	50	Express Scripts Holding Co.(a)		3,973
	907	Fresenius SE & Co. KGaA, Sponsored ADR		17,501
	23	HCA Healthcare, Inc.		2,857
	10	Humana, Inc.		3,142
	2	Laboratory Corp. of America Holdings(a)		351
	11	Quest Diagnostics, Inc.		1,185
	24	UnitedHealth Group, Inc.		6,077
	5	Universal Health Services, Inc., Class B		610
				54,078
		Home Construction — 0.5%
	326	Geberit AG, ADR		13,956
		Hotels, Restaurants & Leisure — 0.2%
	9	Carnival Corp.		533
	7	McDonald’s Corp.		1,103
	106	MGM Resorts International		3,325
	22	Starbucks Corp.		1,153
				6,114
		Household Durables — 0.9%
	8	Lennar Corp., Class A		418
	1,669	Sekisui House Ltd., Sponsored ADR		28,498
	3	Whirlpool Corp.		394
				29,310
		Household Products — 0.5%
	8	Church & Dwight Co., Inc.		447
	16	Clorox Co. (The)		2,163
	60	Colgate-Palmolive Co.		4,020
	126	Procter & Gamble Co. (The)		10,191
				16,821
		Independent Power & Renewable Electricity Producers — 0.3%
	75	Ormat Technologies, Inc.		4,069
	222	Pattern Energy Group, Inc.		4,122
				8,191
		Industrial Conglomerates — 1.8%
	403	General Electric Co.		5,493
	162	Roper Technologies, Inc.		48,908
				54,401
		Industrial Other — 0.0%
	27	Iron Mountain, Inc.		948
		Insurance — 5.5%
	27	Aflac, Inc.		1,257
	1,525	AIA Group Ltd., Sponsored ADR		53,619
	835	Allianz SE, Sponsored ADR		18,416
	10	Allstate Corp. (The)		951
	26	Brighthouse Financial, Inc.(a)		1,129
	79	Hartford Financial Services Group, Inc. (The)		4,163
	1,505	Legal & General Group PLC, Sponsored ADR		26,654
	66	Lincoln National Corp.		4,495
	125	MetLife, Inc.		5,717
	70	Prudential Financial, Inc.		7,064
	748	Prudential PLC, Sponsored ADR		35,395
	98	Torchmark Corp.		8,631
	73	Unum Group		2,900
				170,391
		Internet & Direct Marketing Retail — 1.6%
	26	Amazon.com, Inc.(a)		46,213
	1	Booking Holdings, Inc.(a)		2,029
	6	Netflix, Inc.(a)		2,025
	7	TripAdvisor, Inc.(a)		406
				50,673
		Internet Software & Services — 4.9%
	7	Akamai Technologies, Inc.(a)		527
	82	Alphabet, Inc., Class A(a)		100,632
	2	Alphabet, Inc., Class C(a)		2,434
	274	Facebook, Inc., Class A(a)		47,287
				150,880
		IT Services — 5.4%
	7	Accenture PLC, Class A		1,115
	23	Cognizant Technology Solutions Corp., Class A		1,875
	48	International Business Machines Corp.		6,957
	493	MasterCard, Inc., Class A		97,614
	23	PayPal Holdings, Inc.(a)		1,889
	408	Visa, Inc., Class A		55,790
	75	Western Union Co. (The)		1,512
				166,752
		Life Sciences Tools & Services — 3.1%
	19	Agilent Technologies, Inc.		1,255
	42	Illumina, Inc.(a)		13,623
	349	Thermo Fisher Scientific, Inc.		81,851
				96,729
		Machinery — 1.5%
	66	Caterpillar, Inc.		9,491
	8	Cummins, Inc.		1,143
	38	Deere & Co.		5,502
	71	Flowserve Corp.		3,147
	5	Ingersoll-Rand PLC		493
	21	Parker Hannifin Corp.		3,550
	215	Watts Water Technologies, Inc., Series A		18,393
	61	Xylem, Inc.		4,670
				46,389
		Media — 0.6%
	37	CBS Corp., Class B		1,949
	15	Interpublic Group of Cos., Inc. (The)		338
	85	News Corp., Class A		1,281
	4	Omnicom Group, Inc.		275
	32	Twenty-First Century Fox, Inc., Class B		1,421
	75	Twenty-First Century Fox, Inc., Class A		3,375
	85	Walt Disney Co. (The)		9,653
				18,292

See accompanying notes to financial statements.

29  |

Portfolio of Investments – as of July 31, 2018 (Unaudited)

Natixis Sustainable Future 2035 Fund – (continued)

Shares		Description	Value (†)
		Metals & Mining — 0.2%
	169	Newmont Mining Corp.	$	6,199
		Multiline Retail — 0.1%
	15	Kohl’s Corp.		1,108
	12	Macy’s, Inc.		477
	26	Target Corp.		2,098
				3,683
		Personal Products — 1.5%
	123	Estee Lauder Cos., Inc. (The), Class A		16,597
	543	Unilever NV		31,201
				47,798
		Pharmaceuticals — 3.3%
	25	Allergan PLC		4,602
	72	Bristol-Myers Squibb Co.		4,230
	45	Eli Lilly & Co.		4,447
	118	Johnson & Johnson		15,637
	112	Merck & Co., Inc.		7,378
	69	Mylan NV(a)		2,574
	1,078	Novo Nordisk AS, Sponsored ADR		53,652
	281	Pfizer, Inc.		11,220
				103,740
		Professional Services — 0.1%
	40	IHS Markit Ltd.(a)		2,121
	38	Nielsen Holdings PLC		895
	3	Verisk Analytics, Inc.(a)		332
				3,348
		Real Estate Management & Development — 0.0%
	26	CBRE Group, Inc., Class A(a)		1,295
		REITs – Apartments — 0.2%
	5	AvalonBay Communities, Inc.		884
	53	Equity Residential		3,468
	7	Essex Property Trust, Inc.		1,683
	4	Mid-America Apartment Communities, Inc.		403
				6,438
		REITs – Diversified — 0.6%
	104	Crown Castle International Corp.		11,526
	13	Digital Realty Trust, Inc.		1,578
	2	Equinix, Inc.		879
	24	Vornado Realty Trust		1,726
	105	Weyerhaeuser Co.		3,589
				19,298
		REITs – Health Care — 0.3%
	55	HCP, Inc.		1,425
	40	Ventas, Inc.		2,255
	89	Welltower, Inc.		5,571
				9,251
		REITs – Hotels — 0.1%
	140	Host Hotels & Resorts, Inc.		2,932
		REITs – Office Property — 0.1%
	14	Boston Properties, Inc.		1,757
		REITs – Regional Malls — 0.0%
	7	Macerich Co. (The)		413
		REITs – Single Tenant — 0.0%
	8	Realty Income Corp.		446
		REITs – Storage — 0.1%
	15	Public Storage		3,267
		Road & Rail — 0.7%
	33	Kansas City Southern		3,837
	46	Norfolk Southern Corp.		7,774
	59	Union Pacific Corp.		8,843
				20,454
		Semiconductors & Semiconductor Equipment — 1.4%
	54	Advanced Micro Devices, Inc.(a)		990
	40	Applied Materials, Inc.		1,945
	104	ASML Holding NV, (Registered)		22,256
	77	First Solar, Inc.(a)		4,031
	219	Intel Corp.		10,534
	9	NVIDIA Corp.		2,203
	20	QUALCOMM, Inc.		1,282
	12	Texas Instruments, Inc.		1,336
	1	Xilinx, Inc.		72
				44,649
		Software — 3.9%
	9	Autodesk, Inc.(a)		1,156
	5	Citrix Systems, Inc.(a)		550
	73	Ellie Mae, Inc.(a)		7,243
	812	Microsoft Corp.		86,137
	552	Oracle Corp.		26,319
	23	Symantec Corp.		465
				121,870
		Specialty Retail — 0.4%
	15	Best Buy Co., Inc.		1,125
	21	Gap, Inc. (The)		634
	21	Home Depot, Inc. (The)		4,148
	29	Lowe’s Cos., Inc.		2,881
	15	Tiffany & Co.		2,063
				10,851
		Technology Hardware, Storage & Peripherals — 0.5%
	36	Apple, Inc.		6,851
	221	Hewlett Packard Enterprise Co.		3,412
	74	HP, Inc.		1,708
	23	NetApp, Inc.		1,783
	8	Seagate Technology PLC		421
	22	Western Digital Corp.		1,543
	38	Xerox Corp.		987
				16,705
		Textiles, Apparel & Luxury Goods — 0.2%
	26	Hanesbrands, Inc.		579
	53	NIKE, Inc., Class B		4,076
	4	PVH Corp.		614
	7	VF Corp.		645
				5,914
		Trading Companies & Distributors — 0.3%
	56	Fastenal Co.		3,188
	19	W.W. Grainger, Inc.		6,585
				9,773
		Water Utilities — 0.9%
	309	American Water Works Co., Inc.		27,269
		Total Common Stocks (Identified Cost $2,005,861)		2,399,696

See accompanying notes to financial statements.

|  30

Portfolio of Investments – as of July 31, 2018 (Unaudited)

Natixis Sustainable Future 2035 Fund – (continued)

Shares		Description	Value (†)
	Affiliated Mutual Funds — 18.5%
	12,455	Loomis Sayles Inflation Protected Securities Fund, Class N	$	127,537
	11,491	Loomis Sayles Limited Term Government and Agency Fund, Class N		128,012
	32,428	Mirova Global Green Bond Fund, Class N		320,066
		Total Affiliated Mutual Funds (Identified Cost $585,967)		575,615
		Total Investments — 95.8% (Identified Cost $2,591,828)		2,975,311
		Other assets less liabilities — 4.2%		130,710
		Net Assets — 100.0%	$	3,106,021
	(†)	See Note 2 of Notes to Financial Statements.
	(a)	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, 2018 (Unaudited)

Chemicals	5.7	%
Insurance	5.5
IT Services	5.4
Internet Software & Services	4.9
Health Care Equipment & Supplies	4.7
Banks	4.1
Electrical Equipment	3.9
Software	3.9
Pharmaceuticals	3.3
Life Sciences Tools & Services	3.1
Auto Components	2.1
Automobiles	2.0
Other Investments, less than 2% each	28.7
Affiliated Mutual Funds*	18.5
Total Investments	95.8
Other assets less liabilities	4.2
Net Assets	100.0	%

* For more detailed information regarding industry classification, financial statements of affiliated mutual funds (See Note 5 of Notes to Financial Statements) are available, without charge, on the Funds’ website at im.natixis.com.

Asset Allocation Summary at July 31, 2018 (Unaudited)

Equity	77.3	%
Fixed Income	18.5
Total Investments	95.8
Other assets less liabilities	4.2
Net Assets	100.0	%

See accompanying notes to financial statements.

31  |

Portfolio of Investments – as of July 31, 2018 (Unaudited)

Natixis Sustainable Future 2040 Fund

Shares		Description	Value (†)
	Common Stocks — 83.0% of Net Assets
		Aerospace & Defense — 0.1%
	107	Arconic, Inc.	$	2,321
		Air Freight & Logistics — 0.3%
	65	United Parcel Service, Inc., Class B		7,793
		Auto Components — 2.3%
	449	Aptiv PLC		44,034
	149	Delphi Technologies PLC		6,730
	12	Goodyear Tire & Rubber Co. (The)		291
	734	Valeo S.A., Sponsored ADR		17,968
				69,023
		Automobiles — 2.2%
	1,803	Byd Co. Ltd., ADR		20,527
	350	Toyota Motor Corp., Sponsored ADR		46,144
				66,671
		Banks — 4.3%
	544	Bank of America Corp.		16,799
	88	Citizens Financial Group, Inc.		3,501
	241	Huntington Bancshares, Inc.		3,721
	1,352	KBC Group NV, Sponsored ADR		52,038
	224	KeyCorp		4,675
	597	People’s United Financial, Inc.		10,883
	219	Signature Bank		24,027
	32	U.S. Bancorp		1,696
	183	Wells Fargo & Co.		10,484
	89	Zions Bancorporation		4,601
				132,425
		Beverages — 0.7%
	83	Brown-Forman Corp., Class B		4,417
	182	Coca-Cola Co. (The)		8,487
	19	Molson Coors Brewing Co., Class B		1,273
	64	PepsiCo, Inc.		7,360
				21,537
		Biotechnology — 1.4%
	16	AbbVie, Inc.		1,476
	16	Amgen, Inc.		3,145
	476	Gilead Sciences, Inc.		37,047
				41,668
		Building Products — 1.6%
	611	A.O. Smith Corp.		36,373
	304	Johnson Controls International PLC		11,403
				47,776
		Capital Markets — 2.0%
	15	Affiliated Managers Group, Inc.		2,400
	15	Ameriprise Financial, Inc.		2,185
	149	Bank of New York Mellon Corp. (The)		7,967
	15	BlackRock, Inc.		7,541
	26	Charles Schwab Corp. (The)		1,328
	27	CME Group, Inc.		4,296
	111	Franklin Resources, Inc.		3,810
	44	Goldman Sachs Group, Inc. (The)		10,447
	18	Intercontinental Exchange, Inc.		1,330
	59	Invesco Ltd.		1,592
	11	Legg Mason, Inc.		376
	9	Moody’s Corp.		1,540
	21	Nasdaq, Inc.		1,919
	69	Northern Trust Corp.		7,536
	8	S&P Global, Inc.		1,604
	57	State Street Corp.		5,034
				60,905
		Chemicals — 6.1%
	18	Air Products & Chemicals, Inc.		2,955
	524	Chr. Hansen Holding AS, Sponsored ADR		27,099
	480	Ecolab, Inc.		67,536
	122	International Flavors & Fragrances, Inc.		16,197
	288	Novozymes AS, Sponsored ADR		15,143
	67	Praxair, Inc.		11,222
	2,120	Symrise AG, Sponsored ADR		47,795
				187,947
		Commercial Services & Supplies — 0.1%
	18	Stericycle, Inc.(a)		1,257
	34	Waste Management, Inc.		3,060
				4,317
		Communications Equipment — 0.6%
	403	Cisco Systems, Inc.		17,043
	13	Motorola Solutions, Inc.		1,577
				18,620
		Construction & Engineering — 0.1%
	60	Fluor Corp.		3,075
		Consumer Finance — 0.5%
	52	American Express Co.		5,175
	86	Discover Financial Services		6,141
	83	Navient Corp.		1,097
	51	Synchrony Financial		1,476
				13,889
		Containers & Packaging — 0.3%
	92	Ball Corp.		3,585
	21	Crown Holdings, Inc.(a)		951
	60	International Paper Co.		3,224
				7,760
		Distributors — 0.2%
	50	Genuine Parts Co.		4,865
		Diversified Consumer Services — 0.0%
	18	H&R Block, Inc.		453
		Diversified Telecommunication Services — 1.0%
	553	AT&T, Inc.		17,679
	259	Verizon Communications, Inc.		13,375
				31,054
		Electric Utilities — 1.5%
	272	NextEra Energy, Inc.		45,571
	18	Xcel Energy, Inc.		843
				46,414
		Electrical Equipment — 4.2%
	189	Acuity Brands, Inc.		26,277
	869	Eaton Corp. PLC		72,275
	1,417	Vestas Wind Systems AS, Sponsored ADR		30,366
				128,918
		Electronic Equipment, Instruments & Components — 0.1%
	17	TE Connectivity Ltd.		1,591
		Food & Staples Retailing — 0.4%
	48	Kroger Co. (The)		1,392
	107	Sysco Corp.		7,192
	28	Walmart, Inc.		2,498
				11,082
		Food Products — 1.5%
	90	Campbell Soup Co.		3,681
	75	Conagra Brands, Inc.		2,753
	1,584	Danone S.A., Sponsored ADR		24,774

See accompanying notes to financial statements.

|  32

Portfolio of Investments – as of July 31, 2018 (Unaudited)

Natixis Sustainable Future 2040 Fund – (continued)

Shares		Description	Value (†)
		Food Products — continued
	30	General Mills, Inc.	$	1,382
	28	Hershey Co. (The)		2,750
	20	Hormel Foods Corp.		720
	19	J.M. Smucker Co. (The)		2,111
	41	Kellogg Co.		2,912
	116	Mondelez International, Inc., Class A		5,032
				46,115
		Health Care Equipment & Supplies — 5.0%
	70	Baxter International, Inc.		5,072
	1,634	Coloplast AS, Sponsored ADR		17,721
	632	Danaher Corp.		64,831
	19	DENTSPLY SIRONA, Inc.		914
	786	Essilor International Cie Generale d’Optique S.A., Sponsored ADR		57,924
	67	Medtronic PLC		6,045
				152,507
		Health Care Providers & Services — 1.9%
	22	Aetna, Inc.		4,145
	27	Anthem, Inc.		6,831
	7	Cigna Corp.		1,256
	82	CVS Health Corp.		5,318
	29	DaVita, Inc.(a)		2,038
	7	Envision Healthcare Corp.(a)		310
	50	Express Scripts Holding Co.(a)		3,973
	972	Fresenius SE & Co. KGaA, Sponsored ADR		18,755
	24	HCA Healthcare, Inc.		2,981
	11	Humana, Inc.		3,456
	2	Laboratory Corp. of America Holdings(a)		351
	12	Quest Diagnostics, Inc.		1,293
	25	UnitedHealth Group, Inc.		6,330
	3	Universal Health Services, Inc., Class B		366
				57,403
		Home Construction — 0.5%
	350	Geberit AG, ADR		14,983
		Hotels, Restaurants & Leisure — 0.2%
	11	Carnival Corp.		652
	7	McDonald’s Corp.		1,103
	112	MGM Resorts International		3,513
	23	Starbucks Corp.		1,205
				6,473
		Household Durables — 1.0%
	9	Lennar Corp., Class A		470
	1,793	Sekisui House Ltd., Sponsored ADR		30,616
	3	Whirlpool Corp.		393
				31,479
		Household Products — 0.6%
	9	Church & Dwight Co., Inc.		503
	17	Clorox Co. (The)		2,298
	63	Colgate-Palmolive Co.		4,222
	134	Procter & Gamble Co. (The)		10,838
				17,861
		Independent Power & Renewable Electricity Producers — 0.3%
	82	Ormat Technologies, Inc.		4,449
	260	Pattern Energy Group, Inc.		4,828
				9,277
		Industrial Conglomerates — 1.9%
	426	General Electric Co.		5,806
	172	Roper Technologies, Inc.		51,927
				57,733
		Industrial Other — 0.0%
	31	Iron Mountain, Inc.		1,088
		Insurance — 5.8%
	31	Aflac, Inc.		1,443
	1,603	AIA Group Ltd., Sponsored ADR		56,362
	897	Allianz SE, Sponsored ADR		19,783
	11	Allstate Corp. (The)		1,046
	27	Brighthouse Financial, Inc.(a)		1,173
	74	Hartford Financial Services Group, Inc. (The)		3,900
	1,557	Legal & General Group PLC, Sponsored ADR		27,574
	69	Lincoln National Corp.		4,699
	130	MetLife, Inc.		5,946
	74	Prudential Financial, Inc.		7,467
	777	Prudential PLC, Sponsored ADR		36,768
	103	Torchmark Corp.		9,071
	75	Unum Group		2,980
				178,212
		Internet & Direct Marketing Retail — 1.7%
	27	Amazon.com, Inc.(a)		47,991
	1	Booking Holdings, Inc.(a)		2,029
	7	Netflix, Inc.(a)		2,362
	8	TripAdvisor, Inc.(a)		464
				52,846
		Internet Software & Services — 5.2%
	8	Akamai Technologies, Inc.(a)		602
	87	Alphabet, Inc., Class A(a)		106,768
	2	Alphabet, Inc., Class C(a)		2,435
	292	Facebook, Inc., Class A(a)		50,393
				160,198
		IT Services — 5.8%
	8	Accenture PLC, Class A		1,275
	25	Cognizant Technology Solutions Corp., Class A		2,038
	52	International Business Machines Corp.		7,536
	525	MasterCard, Inc., Class A		103,950
	25	PayPal Holdings, Inc.(a)		2,053
	438	Visa, Inc., Class A		59,892
	80	Western Union Co. (The)		1,613
				178,357
		Life Sciences Tools & Services — 3.4%
	21	Agilent Technologies, Inc.		1,387
	45	Illumina, Inc.(a)		14,596
	371	Thermo Fisher Scientific, Inc.		87,011
				102,994
		Machinery — 1.6%
	70	Caterpillar, Inc.		10,066
	8	Cummins, Inc.		1,142
	40	Deere & Co.		5,792
	75	Flowserve Corp.		3,325
	5	Ingersoll-Rand PLC		493
	21	Parker Hannifin Corp.		3,550
	231	Watts Water Technologies, Inc., Series A		19,762
	67	Xylem, Inc.		5,129
				49,259
		Media — 0.6%
	43	CBS Corp., Class B		2,265
	17	Interpublic Group of Cos., Inc. (The)		383
	91	News Corp., Class A		1,371
	5	Omnicom Group, Inc.		344
	74	Twenty-First Century Fox, Inc., Class A		3,330
	35	Twenty-First Century Fox, Inc., Class B		1,555
	91	Walt Disney Co. (The)		10,334
				19,582

See accompanying notes to financial statements.

33  |

Portfolio of Investments – as of July 31, 2018 (Unaudited)

Natixis Sustainable Future 2040 Fund – (continued)

Shares		Description	Value (†)
		Metals & Mining — 0.2%
	179	Newmont Mining Corp.	$	6,566
		Multiline Retail — 0.1%
	17	Kohl’s Corp.		1,256
	13	Macy’s, Inc.		516
	28	Target Corp.		2,259
				4,031
		Personal Products — 1.6%
	131	Estee Lauder Cos., Inc. (The), Class A		17,677
	564	Unilever NV		32,408
				50,085
		Pharmaceuticals — 3.5%
	27	Allergan PLC		4,970
	75	Bristol-Myers Squibb Co.		4,406
	47	Eli Lilly & Co.		4,644
	122	Johnson & Johnson		16,168
	120	Merck & Co., Inc.		7,904
	70	Mylan NV(a)		2,612
	1,127	Novo Nordisk AS, Sponsored ADR		56,091
	301	Pfizer, Inc.		12,019
				108,814
		Professional Services — 0.1%
	43	IHS Markit Ltd.(a)		2,280
	41	Nielsen Holdings PLC		966
	4	Verisk Analytics, Inc.(a)		443
				3,689
		Real Estate Management & Development — 0.0%
	28	CBRE Group, Inc., Class A(a)		1,394
		REITs – Apartments — 0.2%
	6	AvalonBay Communities, Inc.		1,061
	55	Equity Residential		3,599
	8	Essex Property Trust, Inc.		1,923
	4	Mid-America Apartment Communities, Inc.		403
				6,986
		REITs – Diversified — 0.7%
	110	Crown Castle International Corp.		12,191
	16	Digital Realty Trust, Inc.		1,943
	3	Equinix, Inc.		1,318
	26	Vornado Realty Trust		1,870
	110	Weyerhaeuser Co.		3,760
				21,082
		REITs – Health Care — 0.3%
	60	HCP, Inc.		1,554
	44	Ventas, Inc.		2,481
	97	Welltower, Inc.		6,072
				10,107
		REITs – Hotels — 0.1%
	149	Host Hotels & Resorts, Inc.		3,120
		REITs – Office Property — 0.1%
	16	Boston Properties, Inc.		2,008
		REITs – Regional Malls — 0.0%
	7	Macerich Co. (The)		413
		REITs – Single Tenant — 0.0%
	8	Realty Income Corp.		446
		REITs – Storage — 0.1%
	18	Public Storage		3,921
		Road & Rail — 0.7%
	34	Kansas City Southern		3,953
	51	Norfolk Southern Corp.		8,619
	65	Union Pacific Corp.		9,743
				22,315
		Semiconductors & Semiconductor Equipment — 1.6%
	58	Advanced Micro Devices, Inc.(a)		1,063
	43	Applied Materials, Inc.		2,091
	112	ASML Holding NV, (Registered)		23,968
	85	First Solar, Inc.(a)		4,450
	233	Intel Corp.		11,207
	10	NVIDIA Corp.		2,449
	22	QUALCOMM, Inc.		1,410
	13	Texas Instruments, Inc.		1,447
	1	Xilinx, Inc.		72
				48,157
		Software — 4.2%
	9	Autodesk, Inc.(a)		1,156
	5	Citrix Systems, Inc.(a)		550
	77	Ellie Mae, Inc.(a)		7,640
	872	Microsoft Corp.		92,502
	585	Oracle Corp.		27,893
	25	Symantec Corp.		505
				130,246
		Specialty Retail — 0.4%
	16	Best Buy Co., Inc.		1,201
	23	Gap, Inc. (The)		694
	22	Home Depot, Inc. (The)		4,345
	33	Lowe’s Cos., Inc.		3,278
	14	Tiffany & Co.		1,926
				11,444
		Technology Hardware, Storage & Peripherals — 0.6%
	41	Apple, Inc.		7,802
	241	Hewlett Packard Enterprise Co.		3,721
	86	HP, Inc.		1,985
	26	NetApp, Inc.		2,015
	8	Seagate Technology PLC		421
	24	Western Digital Corp.		1,684
	38	Xerox Corp.		987
				18,615
		Textiles, Apparel & Luxury Goods — 0.2%
	32	Hanesbrands, Inc.		712
	59	NIKE, Inc., Class B		4,538
	5	PVH Corp.		768
	8	VF Corp.		736
				6,754
		Trading Companies & Distributors — 0.3%
	61	Fastenal Co.		3,473
	20	W.W. Grainger, Inc.		6,931
				10,404
		Water Utilities — 1.0%
	330	American Water Works Co., Inc.		29,122
		Total Common Stocks (Identified Cost $2,124,919)		2,546,190

See accompanying notes to financial statements.

|  34

Portfolio of Investments – as of July 31, 2018 (Unaudited)

Natixis Sustainable Future 2040 Fund – (continued)

Shares		Description	Value (†)
	Affiliated Mutual Funds — 12.7%
	12,664	Loomis Sayles Inflation Protected Securities Fund, Class N	$	129,680
	5,829	Loomis Sayles Limited Term Government and Agency Fund, Class N		64,934
	19,753	Mirova Global Green Bond Fund, Class N		194,961
		Total Affiliated Mutual Funds (Identified Cost $396,540)		389,575
		Total Investments — 95.7% (Identified Cost $2,521,459)		2,935,765
		Other assets less liabilities — 4.3%		130,965
		Net Assets — 100.0%	$	3,066,730
	(†)	See Note 2 of Notes to Financial Statements.
	(a)	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, 2018 (Unaudited)

Chemicals	6.1	%
IT Services	5.8
Insurance	5.8
Internet Software & Services	5.2
Health Care Equipment & Supplies	5.0
Banks	4.3
Software	4.2
Electrical Equipment	4.2
Pharmaceuticals	3.5
Life Sciences Tools & Services	3.4
Auto Components	2.3
Automobiles	2.2
Capital Markets	2.0
Other Investments, less than 2% each	29.0
Affiliated Mutual Funds*	12.7
Total Investments	95.7
Other assets less liabilities	4.3
Net Assets	100.0	%

* For more detailed information regarding industry classification, financial statements of affiliated mutual funds (See Note 5 of Notes to Financial Statements) are available, without charge, on the Funds’ website at im.natixis.com.

Asset Allocation Summary at July 31, 2018 (Unaudited)

Equity	83.0	%
Fixed Income	12.7
Total Investments	95.7
Other assets less liabilities	4.3
Net Assets	100.0	%

See accompanying notes to financial statements.

35  |

Portfolio of Investments – as of July 31, 2018 (Unaudited)

Natixis Sustainable Future 2045 Fund

Shares		Description	Value (†)
	Common Stocks — 87.0% of Net Assets
		Aerospace & Defense — 0.1%
	92	Arconic, Inc.	$	1,996
		Air Freight & Logistics — 0.2%
	52	United Parcel Service, Inc., Class B		6,234
		Auto Components — 2.4%
	396	Aptiv PLC		38,836
	132	Delphi Technologies PLC		5,962
	10	Goodyear Tire & Rubber Co. (The)		242
	651	Valeo S.A., Sponsored ADR		15,937
				60,977
		Automobiles — 2.4%
	1,611	Byd Co. Ltd., ADR		18,341
	315	Toyota Motor Corp., Sponsored ADR		41,530
				59,871
		Banks — 4.5%
	445	Bank of America Corp.		13,742
	74	Citizens Financial Group, Inc.		2,944
	194	Huntington Bancshares, Inc.		2,995
	1,207	KBC Group NV, Sponsored ADR		46,457
	180	KeyCorp		3,757
	490	People’s United Financial, Inc.		8,933
	202	Signature Bank		22,161
	26	U.S. Bancorp		1,378
	148	Wells Fargo & Co.		8,479
	74	Zions Bancorporation		3,826
				114,672
		Beverages — 0.7%
	63	Brown-Forman Corp., Class B		3,353
	147	Coca-Cola Co. (The)		6,855
	16	Molson Coors Brewing Co., Class B		1,072
	53	PepsiCo, Inc.		6,095
				17,375
		Biotechnology — 1.4%
	13	AbbVie, Inc.		1,199
	12	Amgen, Inc.		2,358
	425	Gilead Sciences, Inc.		33,078
				36,635
		Building Products — 1.6%
	547	A.O. Smith Corp.		32,563
	245	Johnson Controls International PLC		9,190
				41,753
		Capital Markets — 2.0%
	12	Affiliated Managers Group, Inc.		1,920
	12	Ameriprise Financial, Inc.		1,748
	121	Bank of New York Mellon Corp. (The)		6,470
	12	BlackRock, Inc.		6,033
	25	Charles Schwab Corp. (The)		1,277
	22	CME Group, Inc.		3,501
	93	Franklin Resources, Inc.		3,192
	36	Goldman Sachs Group, Inc. (The)		8,547
	17	Intercontinental Exchange, Inc.		1,256
	52	Invesco Ltd.		1,403
	11	Legg Mason, Inc.		375
	7	Moody’s Corp.		1,198
	18	Nasdaq, Inc.		1,645
	58	Northern Trust Corp.		6,335
	6	S&P Global, Inc.		1,203
	48	State Street Corp.		4,239
				50,342
		Chemicals — 6.5%
	14	Air Products & Chemicals, Inc.		2,298
	486	Chr. Hansen Holding AS, Sponsored ADR		25,133
	418	Ecolab, Inc.		58,813
	101	International Flavors & Fragrances, Inc.		13,409
	239	Novozymes AS, Sponsored ADR		12,567
	55	Praxair, Inc.		9,213
	1,907	Symrise AG, Sponsored ADR		42,993
				164,426
		Commercial Services & Supplies — 0.1%
	14	Stericycle, Inc.(a)		978
	27	Waste Management, Inc.		2,430
				3,408
		Communications Equipment — 0.6%
	328	Cisco Systems, Inc.		13,871
	13	Motorola Solutions, Inc.		1,577
				15,448
		Construction & Engineering — 0.1%
	48	Fluor Corp.		2,460
		Consumer Finance — 0.5%
	43	American Express Co.		4,279
	70	Discover Financial Services		4,999
	70	Navient Corp.		925
	45	Synchrony Financial		1,302
				11,505
		Containers & Packaging — 0.2%
	78	Ball Corp.		3,040
	12	Crown Holdings, Inc.(a)		543
	51	International Paper Co.		2,740
				6,323
		Distributors — 0.2%
	40	Genuine Parts Co.		3,892
		Diversified Consumer Services — 0.0%
	15	H&R Block, Inc.		377
		Diversified Telecommunication Services — 1.0%
	451	AT&T, Inc.		14,419
	219	Verizon Communications, Inc.		11,309
				25,728
		Electric Utilities — 1.6%
	241	NextEra Energy, Inc.		40,377
	14	Xcel Energy, Inc.		656
				41,033
		Electrical Equipment — 4.5%
	172	Acuity Brands, Inc.		23,913
	773	Eaton Corp. PLC		64,290
	1,267	Vestas Wind Systems AS, Sponsored ADR		27,152
				115,355
		Electronic Equipment, Instruments & Components — 0.1%
	14	TE Connectivity Ltd.		1,310
		Food & Staples Retailing — 0.4%
	38	Kroger Co. (The)		1,102
	87	Sysco Corp.		5,847
	22	Walmart, Inc.		1,963
				8,912
		Food Products — 1.5%
	73	Campbell Soup Co.		2,986
	62	Conagra Brands, Inc.		2,276
	1,415	Danone S.A., Sponsored ADR		22,131

See accompanying notes to financial statements.

|  36

Portfolio of Investments – as of July 31, 2018 (Unaudited)

Natixis Sustainable Future 2045 Fund – (continued)

Shares		Description	Value (†)
		Food Products — continued
	25	General Mills, Inc.	$	1,151
	21	Hershey Co. (The)		2,062
	16	Hormel Foods Corp.		576
	15	J.M. Smucker Co. (The)		1,667
	33	Kellogg Co.		2,344
	93	Mondelez International, Inc., Class A		4,034
				39,227
		Health Care Equipment & Supplies — 5.2%
	57	Baxter International, Inc.		4,130
	1,352	Coloplast AS, Sponsored ADR		14,662
	560	Danaher Corp.		57,445
	17	DENTSPLY SIRONA, Inc.		818
	701	Essilor International Cie Generale d’Optique S.A., Sponsored ADR		51,660
	55	Medtronic PLC		4,963
				133,678
		Health Care Providers & Services — 1.9%
	17	Aetna, Inc.		3,202
	23	Anthem, Inc.		5,819
	7	Cigna Corp.		1,256
	66	CVS Health Corp.		4,281
	25	DaVita, Inc.(a)		1,757
	7	Envision Healthcare Corp.(a)		310
	43	Express Scripts Holding Co.(a)		3,417
	860	Fresenius SE & Co. KGaA, Sponsored ADR		16,594
	22	HCA Healthcare, Inc.		2,733
	9	Humana, Inc.		2,827
	2	Laboratory Corp. of America Holdings(a)		351
	10	Quest Diagnostics, Inc.		1,077
	22	UnitedHealth Group, Inc.		5,571
	2	Universal Health Services, Inc., Class B		244
				49,439
		Home Construction — 0.5%
	290	Geberit AG, ADR		12,415
		Hotels, Restaurants & Leisure — 0.2%
	9	Carnival Corp.		533
	6	McDonald’s Corp.		945
	90	MGM Resorts International		2,824
	23	Starbucks Corp.		1,205
				5,507
		Household Durables — 1.1%
	8	Lennar Corp., Class A		418
	1,587	Sekisui House Ltd., Sponsored ADR		27,098
	2	Whirlpool Corp.		262
				27,778
		Household Products — 0.6%
	7	Church & Dwight Co., Inc.		391
	13	Clorox Co. (The)		1,757
	52	Colgate-Palmolive Co.		3,485
	109	Procter & Gamble Co. (The)		8,816
				14,449
		Independent Power & Renewable Electricity Producers — 0.3%
	70	Ormat Technologies, Inc.		3,797
	219	Pattern Energy Group, Inc.		4,067
				7,864
		Industrial Conglomerates — 2.0%
	344	General Electric Co.		4,689
	153	Roper Technologies, Inc.		46,190
				50,879
		Industrial Other — 0.0%
	26	Iron Mountain, Inc.		913
		Insurance — 6.2%
	26	Aflac, Inc.		1,210
	1,430	AIA Group Ltd., Sponsored ADR		50,279
	807	Allianz SE, Sponsored ADR		17,798
	9	Allstate Corp. (The)		856
	22	Brighthouse Financial, Inc.(a)		955
	63	Hartford Financial Services Group, Inc. (The)		3,320
	1,427	Legal & General Group PLC, Sponsored ADR		25,272
	55	Lincoln National Corp.		3,746
	107	MetLife, Inc.		4,894
	60	Prudential Financial, Inc.		6,055
	709	Prudential PLC, Sponsored ADR		33,550
	83	Torchmark Corp.		7,310
	62	Unum Group		2,463
				157,708
		Internet & Direct Marketing Retail — 1.9%
	24	Amazon.com, Inc.(a)		42,658
	1	Booking Holdings, Inc.(a)		2,029
	6	Netflix, Inc.(a)		2,025
	7	TripAdvisor, Inc.(a)		406
				47,118
		Internet Software & Services — 5.6%
	6	Akamai Technologies, Inc.(a)		452
	78	Alphabet, Inc., Class A(a)		95,723
	2	Alphabet, Inc., Class C(a)		2,434
	260	Facebook, Inc., Class A(a)		44,871
				143,480
		IT Services — 6.2%
	6	Accenture PLC, Class A		956
	21	Cognizant Technology Solutions Corp., Class A		1,711
	41	International Business Machines Corp.		5,942
	468	MasterCard, Inc., Class A		92,664
	20	PayPal Holdings, Inc.(a)		1,643
	390	Visa, Inc., Class A		53,329
	61	Western Union Co. (The)		1,230
				157,475
		Life Sciences Tools & Services — 3.6%
	20	Agilent Technologies, Inc.		1,321
	37	Illumina, Inc.(a)		12,001
	334	Thermo Fisher Scientific, Inc.		78,333
				91,655
		Machinery — 1.6%
	56	Caterpillar, Inc.		8,053
	7	Cummins, Inc.		1,000
	31	Deere & Co.		4,488
	61	Flowserve Corp.		2,704
	4	Ingersoll-Rand PLC		394
	17	Parker Hannifin Corp.		2,874
	201	Watts Water Technologies, Inc., Series A		17,196
	56	Xylem, Inc.		4,287
				40,996
		Media — 0.6%
	30	CBS Corp., Class B		1,580
	14	Interpublic Group of Cos., Inc. (The)		316
	72	News Corp., Class A		1,085
	4	Omnicom Group, Inc.		275
	33	Twenty-First Century Fox, Inc., Class B		1,466
	57	Twenty-First Century Fox, Inc., Class A		2,565
	75	Walt Disney Co. (The)		8,517
				15,804

See accompanying notes to financial statements.

37  |

Portfolio of Investments – as of July 31, 2018 (Unaudited)

Natixis Sustainable Future 2045 Fund – (continued)

Shares		Description	Value (†)
		Metals & Mining — 0.2%
	146	Newmont Mining Corp.	$	5,355
		Multiline Retail — 0.1%
	14	Kohl’s Corp.		1,034
	11	Macy’s, Inc.		437
	22	Target Corp.		1,775
				3,246
		Personal Products — 1.8%
	116	Estee Lauder Cos., Inc. (The), Class A		15,653
	517	Unilever NV		29,707
				45,360
		Pharmaceuticals — 3.6%
	22	Allergan PLC		4,050
	62	Bristol-Myers Squibb Co.		3,642
	39	Eli Lilly & Co.		3,854
	99	Johnson & Johnson		13,119
	95	Merck & Co., Inc.		6,258
	59	Mylan NV(a)		2,201
	1,006	Novo Nordisk AS, Sponsored ADR		50,069
	245	Pfizer, Inc.		9,783
				92,976
		Professional Services — 0.1%
	34	IHS Markit Ltd.(a)		1,803
	32	Nielsen Holdings PLC		754
	3	Verisk Analytics, Inc.(a)		332
				2,889
		Real Estate Management & Development — 0.1%
	28	CBRE Group, Inc., Class A(a)		1,394
		REITs – Apartments — 0.2%
	6	AvalonBay Communities, Inc.		1,061
	42	Equity Residential		2,748
	7	Essex Property Trust, Inc.		1,683
	4	Mid-America Apartment Communities, Inc.		403
				5,895
		REITs – Diversified — 0.7%
	89	Crown Castle International Corp.		9,864
	12	Digital Realty Trust, Inc.		1,457
	2	Equinix, Inc.		879
	21	Vornado Realty Trust		1,510
	93	Weyerhaeuser Co.		3,179
				16,889
		REITs – Health Care — 0.3%
	49	HCP, Inc.		1,269
	35	Ventas, Inc.		1,973
	83	Welltower, Inc.		5,196
				8,438
		REITs – Hotels — 0.1%
	120	Host Hotels & Resorts, Inc.		2,513
		REITs – Office Property — 0.1%
	15	Boston Properties, Inc.		1,883
		REITs – Regional Malls — 0.0%
	6	Macerich Co. (The)		354
		REITs – Single Tenant — 0.0%
	7	Realty Income Corp.		390
		REITs – Storage — 0.1%
	14	Public Storage		3,050
		Road & Rail — 0.7%
	27	Kansas City Southern		3,140
	39	Norfolk Southern Corp.		6,591
	53	Union Pacific Corp.		7,944
				17,675
		Semiconductors & Semiconductor Equipment — 1.7%
	46	Advanced Micro Devices, Inc.(a)		843
	38	Applied Materials, Inc.		1,848
	102	ASML Holding NV, (Registered)		21,828
	72	First Solar, Inc.(a)		3,769
	191	Intel Corp.		9,187
	8	NVIDIA Corp.		1,959
	21	QUALCOMM, Inc.		1,346
	13	Texas Instruments, Inc.		1,447
	1	Xilinx, Inc.		72
				42,299
		Software — 4.5%
	8	Autodesk, Inc.(a)		1,028
	4	Citrix Systems, Inc.(a)		440
	69	Ellie Mae, Inc.(a)		6,846
	768	Microsoft Corp.		81,469
	513	Oracle Corp.		24,460
	18	Symantec Corp.		364
				114,607
		Specialty Retail — 0.4%
	13	Best Buy Co., Inc.		975
	18	Gap, Inc. (The)		543
	19	Home Depot, Inc. (The)		3,753
	29	Lowe’s Cos., Inc.		2,881
	12	Tiffany & Co.		1,651
				9,803
		Technology Hardware, Storage & Peripherals — 0.6%
	34	Apple, Inc.		6,470
	201	Hewlett Packard Enterprise Co.		3,103
	60	HP, Inc.		1,385
	21	NetApp, Inc.		1,628
	7	Seagate Technology PLC		368
	23	Western Digital Corp.		1,614
	32	Xerox Corp.		831
				15,399
		Textiles, Apparel & Luxury Goods — 0.2%
	15	Hanesbrands, Inc.		334
	49	NIKE, Inc., Class B		3,769
	4	PVH Corp.		614
	7	VF Corp.		644
				5,361
		Trading Companies & Distributors — 0.4%
	53	Fastenal Co.		3,017
	17	W.W. Grainger, Inc.		5,892
				8,909
		Water Utilities — 1.0%
	290	American Water Works Co., Inc.		25,593
		Total Common Stocks (Identified Cost $1,857,439)		2,216,695

See accompanying notes to financial statements.

|  38

Portfolio of Investments – as of July 31, 2018 (Unaudited)

Natixis Sustainable Future 2045 Fund – (continued)

Shares			Description	Value (†)
	Affiliated Mutual Funds — 8.6%
	5,343		Loomis Sayles Inflation Protected Securities Fund, Class N	$	54,711
	4,921		Loomis Sayles Limited Term Government and Agency Fund, Class N		54,815
	11,114		Mirova Global Green Bond Fund, Class N		109,697
			Total Affiliated Mutual Funds (Identified Cost $223,329)		219,223
			Total Investments — 95.6% (Identified Cost $2,080,768)		2,435,918
			Other assets less liabilities — 4.4%		111,940
			Net Assets — 100.0%	$	2,547,858
		��
	(†)		See Note 2 of Notes to Financial Statements.
	(a)		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, 2018 (Unaudited)

Chemicals	6.5	%
Insurance	6.2
IT Services	6.2
Internet Software & Services	5.6
Health Care Equipment & Supplies	5.2
Electrical Equipment	4.5
Banks	4.5
Software	4.5
Pharmaceuticals	3.6
Life Sciences Tools & Services	3.6
Auto Components	2.4
Automobiles	2.4
Industrial Conglomerates	2.0
Capital Markets	2.0
Other Investments, less than 2% each	27.8
Affiliated Mutual Funds*	8.6
Total Investments	95.6
Other assets less liabilities	4.4
Net Assets	100.0	%

* For more detailed information regarding industry classification, financial statements of affiliated mutual funds (See Note 5 of Notes to Financial Statements) are available, without charge, on the Funds’ website at im.natixis.com.

Asset Allocation Summary at July 31, 2018 (Unaudited)

Equity	87.0	%
Fixed Income	8.6
Total Investments	95.6
Other assets less liabilities	4.4
Net Assets	100.0	%

See accompanying notes to financial statements.

39  |

Portfolio of Investments – as of July 31, 2018 (Unaudited)

Natixis Sustainable Future 2050 Fund

Shares		Description	Value (†)
	Common Stocks — 88.0% of Net Assets
		Aerospace & Defense — 0.1%
	82	Arconic, Inc.	$	1,779
		Air Freight & Logistics — 0.2%
	51	United Parcel Service, Inc., Class B		6,114
		Auto Components — 2.5%
	409	Aptiv PLC		40,111
	136	Delphi Technologies PLC		6,143
	10	Goodyear Tire & Rubber Co. (The)		242
	672	Valeo S.A., Sponsored ADR		16,450
				62,946
		Automobiles — 2.4%
	1,657	Byd Co. Ltd., ADR		18,865
	325	Toyota Motor Corp., Sponsored ADR		42,848
				61,713
		Banks — 4.5%
	428	Bank of America Corp.		13,217
	74	Citizens Financial Group, Inc.		2,944
	193	Huntington Bancshares, Inc.		2,980
	1,256	KBC Group NV, Sponsored ADR		48,343
	180	KeyCorp		3,757
	476	People’s United Financial, Inc.		8,677
	198	Signature Bank		21,722
	26	U.S. Bancorp		1,378
	141	Wells Fargo & Co.		8,078
	74	Zions Bancorporation		3,826
				114,922
		Beverages — 0.7%
	63	Brown-Forman Corp., Class B		3,353
	140	Coca-Cola Co. (The)		6,528
	16	Molson Coors Brewing Co., Class B		1,072
	51	PepsiCo, Inc.		5,865
				16,818
		Biotechnology — 1.4%
	13	AbbVie, Inc.		1,199
	11	Amgen, Inc.		2,162
	425	Gilead Sciences, Inc.		33,078
				36,439
		Building Products — 1.6%
	550	A.O. Smith Corp.		32,742
	234	Johnson Controls International PLC		8,777
				41,519
		Capital Markets — 1.9%
	12	Affiliated Managers Group, Inc.		1,920
	12	Ameriprise Financial, Inc.		1,748
	116	Bank of New York Mellon Corp. (The)		6,203
	11	BlackRock, Inc.		5,530
	21	Charles Schwab Corp. (The)		1,072
	21	CME Group, Inc.		3,342
	92	Franklin Resources, Inc.		3,157
	34	Goldman Sachs Group, Inc. (The)		8,073
	14	Intercontinental Exchange, Inc.		1,035
	52	Invesco Ltd.		1,403
	11	Legg Mason, Inc.		375
	7	Moody’s Corp.		1,198
	18	Nasdaq, Inc.		1,645
	55	Northern Trust Corp.		6,007
	6	S&P Global, Inc.		1,203
	48	State Street Corp.		4,239
				48,150
		Chemicals — 6.5%
	14	Air Products & Chemicals, Inc.		2,298
	469	Chr. Hansen Holding AS, Sponsored ADR		24,254
	426	Ecolab, Inc.		59,938
	104	International Flavors & Fragrances, Inc.		13,807
	247	Novozymes AS, Sponsored ADR		12,987
	51	Praxair, Inc.		8,543
	1,968	Symrise AG, Sponsored ADR		44,369
				166,196
		Commercial Services & Supplies — 0.1%
	14	Stericycle, Inc.(a)		978
	29	Waste Management, Inc.		2,610
				3,588
		Communications Equipment — 0.6%
	319	Cisco Systems, Inc.		13,490
	13	Motorola Solutions, Inc.		1,577
				15,067
		Construction & Engineering — 0.1%
	47	Fluor Corp.		2,409
		Consumer Finance — 0.4%
	42	American Express Co.		4,180
	67	Discover Financial Services		4,784
	68	Navient Corp.		898
	38	Synchrony Financial		1,100
				10,962
		Containers & Packaging — 0.3%
	78	Ball Corp.		3,040
	17	Crown Holdings, Inc.(a)		769
	48	International Paper Co.		2,579
				6,388
		Distributors — 0.2%
	39	Genuine Parts Co.		3,795
		Diversified Consumer Services — 0.0%
	15	H&R Block, Inc.		377
		Diversified Telecommunication Services — 1.0%
	432	AT&T, Inc.		13,811
	211	Verizon Communications, Inc.		10,896
				24,707
		Electric Utilities — 1.6%
	245	NextEra Energy, Inc.		41,047
	14	Xcel Energy, Inc.		656
				41,703
		Electrical Equipment — 4.7%
	177	Acuity Brands, Inc.		24,609
	790	Eaton Corp. PLC		65,704
	1,303	Vestas Wind Systems AS, Sponsored ADR		27,923
				118,236
		Electronic Equipment, Instruments & Components — 0.1%
	14	TE Connectivity Ltd.		1,310
		Food & Staples Retailing — 0.4%
	38	Kroger Co. (The)		1,102
	85	Sysco Corp.		5,713
	22	Walmart, Inc.		1,963
				8,778
		Food Products — 1.6%
	65	Campbell Soup Co.		2,658
	61	Conagra Brands, Inc.		2,239
	1,456	Danone S.A., Sponsored ADR		22,772

See accompanying notes to financial statements.

|  40

Portfolio of Investments – as of July 31, 2018 (Unaudited)

Natixis Sustainable Future 2050 Fund – (continued)

Shares		Description	Value (†)
		Food Products — continued
	25	General Mills, Inc.	$	1,152
	21	Hershey Co. (The)		2,062
	16	Hormel Foods Corp.		576
	15	J.M. Smucker Co. (The)		1,667
	33	Kellogg Co.		2,344
	90	Mondelez International, Inc., Class A		3,904
				39,374
		Health Care Equipment & Supplies — 5.4%
	54	Baxter International, Inc.		3,912
	1,397	Coloplast AS, Sponsored ADR		15,151
	580	Danaher Corp.		59,496
	14	DENTSPLY SIRONA, Inc.		674
	730	Essilor International Cie Generale d’Optique S.A., Sponsored ADR		53,797
	52	Medtronic PLC		4,692
				137,722
		Health Care Providers & Services — 1.9%
	16	Aetna, Inc.		3,014
	21	Anthem, Inc.		5,313
	6	Cigna Corp.		1,076
	66	CVS Health Corp.		4,281
	25	DaVita, Inc.(a)		1,757
	2	Envision Healthcare Corp.(a)		89
	41	Express Scripts Holding Co.(a)		3,258
	870	Fresenius SE & Co. KGaA, Sponsored ADR		16,787
	22	HCA Healthcare, Inc.		2,733
	8	Humana, Inc.		2,513
	2	Laboratory Corp. of America Holdings(a)		351
	10	Quest Diagnostics, Inc.		1,077
	22	UnitedHealth Group, Inc.		5,571
	2	Universal Health Services, Inc., Class B		244
				48,064
		Home Construction — 0.5%
	300	Geberit AG, ADR		12,843
		Hotels, Restaurants & Leisure — 0.2%
	9	Carnival Corp.		533
	6	McDonald’s Corp.		945
	96	MGM Resorts International		3,012
	19	Starbucks Corp.		995
				5,485
		Household Durables — 1.1%
	8	Lennar Corp., Class A		418
	1,629	Sekisui House Ltd., Sponsored ADR		27,815
	2	Whirlpool Corp.		263
				28,496
		Household Products — 0.6%
	7	Church & Dwight Co., Inc.		391
	13	Clorox Co. (The)		1,757
	52	Colgate-Palmolive Co.		3,485
	106	Procter & Gamble Co. (The)		8,573
				14,206
		Independent Power & Renewable Electricity Producers — 0.3%
	68	Ormat Technologies, Inc.		3,689
	213	Pattern Energy Group, Inc.		3,955
				7,644
		Industrial Conglomerates — 2.1%
	328	General Electric Co.		4,471
	158	Roper Technologies, Inc.		47,700
				52,171
		Industrial Other — 0.0%
	26	Iron Mountain, Inc.		913
		Insurance — 6.3%
	26	Aflac, Inc.		1,210
	1,488	AIA Group Ltd., Sponsored ADR		52,318
	823	Allianz SE, Sponsored ADR		18,151
	9	Allstate Corp. (The)		856
	21	Brighthouse Financial, Inc.(a)		912
	63	Hartford Financial Services Group, Inc. (The)		3,320
	1,468	Legal & General Group PLC, Sponsored ADR		25,998
	56	Lincoln National Corp.		3,814
	103	MetLife, Inc.		4,711
	59	Prudential Financial, Inc.		5,954
	722	Prudential PLC, Sponsored ADR		34,165
	80	Torchmark Corp.		7,046
	61	Unum Group		2,424
				160,879
		Internet & Direct Marketing Retail — 1.9%
	25	Amazon.com, Inc.(a)		44,436
	1	Booking Holdings, Inc.(a)		2,029
	6	Netflix, Inc.(a)		2,024
	7	TripAdvisor, Inc.(a)		406
				48,895
		Internet Software & Services — 5.7%
	6	Akamai Technologies, Inc.(a)		452
	79	Alphabet, Inc., Class A(a)		96,950
	2	Alphabet, Inc., Class C(a)		2,434
	267	Facebook, Inc., Class A(a)		46,079
				145,915
		IT Services — 6.3%
	6	Accenture PLC, Class A		956
	20	Cognizant Technology Solutions Corp., Class A		1,630
	40	International Business Machines Corp.		5,797
	482	MasterCard, Inc., Class A		95,436
	20	PayPal Holdings, Inc.(a)		1,643
	391	Visa, Inc., Class A		53,465
	63	Western Union Co. (The)		1,270
				160,197
		Life Sciences Tools & Services — 3.6%
	17	Agilent Technologies, Inc.		1,123
	38	Illumina, Inc.(a)		12,326
	336	Thermo Fisher Scientific, Inc.		78,802
				92,251
		Machinery — 1.6%
	55	Caterpillar, Inc.		7,909
	6	Cummins, Inc.		857
	31	Deere & Co.		4,489
	58	Flowserve Corp.		2,571
	4	Ingersoll-Rand PLC		394
	17	Parker Hannifin Corp.		2,874
	207	Watts Water Technologies, Inc., Series A		17,709
	56	Xylem, Inc.		4,287
				41,090
		Media — 0.6%
	31	CBS Corp., Class B		1,633
	14	Interpublic Group of Cos., Inc. (The)		316
	72	News Corp., Class A		1,085
	4	Omnicom Group, Inc.		275
	33	Twenty-First Century Fox, Inc., Class B		1,466
	58	Twenty-First Century Fox, Inc., Class A		2,610
	73	Walt Disney Co. (The)		8,290
				15,675

See accompanying notes to financial statements.

41  |

Portfolio of Investments – as of July 31, 2018 (Unaudited)

Natixis Sustainable Future 2050 Fund – (continued)

Shares		Description	Value (†)
		Metals & Mining — 0.2%
	140	Newmont Mining Corp.	$	5,135
		Multiline Retail — 0.1%
	14	Kohl’s Corp.		1,034
	10	Macy’s, Inc.		398
	21	Target Corp.		1,694
				3,126
		Personal Products — 1.8%
	123	Estee Lauder Cos., Inc. (The), Class A		16,598
	526	Unilever NV		30,224
				46,822
		Pharmaceuticals — 3.7%
	21	Allergan PLC		3,866
	62	Bristol-Myers Squibb Co.		3,643
	39	Eli Lilly & Co.		3,854
	97	Johnson & Johnson		12,854
	96	Merck & Co., Inc.		6,324
	59	Mylan NV(a)		2,201
	1,047	Novo Nordisk AS, Sponsored ADR		52,109
	240	Pfizer, Inc.		9,583
				94,434
		Professional Services — 0.1%
	30	IHS Markit Ltd.(a)		1,591
	31	Nielsen Holdings PLC		730
	3	Verisk Analytics, Inc.(a)		332
				2,653
		Real Estate Management & Development — 0.1%
	28	CBRE Group, Inc., Class A(a)		1,394
		REITs – Apartments — 0.2%
	6	AvalonBay Communities, Inc.		1,061
	42	Equity Residential		2,748
	7	Essex Property Trust, Inc.		1,683
	4	Mid-America Apartment Communities, Inc.		403
				5,895
		REITs – Diversified — 0.6%
	85	Crown Castle International Corp.		9,420
	12	Digital Realty Trust, Inc.		1,457
	2	Equinix, Inc.		879
	18	Vornado Realty Trust		1,295
	93	Weyerhaeuser Co.		3,179
				16,230
		REITs – Health Care — 0.3%
	47	HCP, Inc.		1,217
	35	Ventas, Inc.		1,974
	80	Welltower, Inc.		5,008
				8,199
		REITs – Hotels — 0.1%
	116	Host Hotels & Resorts, Inc.		2,429
		REITs – Office Property — 0.1%
	15	Boston Properties, Inc.		1,883
		REITs – Regional Malls — 0.0%
	3	Macerich Co. (The)		177
		REITs – Single Tenant — 0.0%
	7	Realty Income Corp.		390
		REITs – Storage — 0.1%
	12	Public Storage		2,614
		Road & Rail — 0.7%
	27	Kansas City Southern		3,140
	39	Norfolk Southern Corp.		6,591
	52	Union Pacific Corp.		7,794
				17,525
		Semiconductors & Semiconductor Equipment — 1.7%
	46	Advanced Micro Devices, Inc.(a)		843
	36	Applied Materials, Inc.		1,751
	104	ASML Holding NV, (Registered)		22,256
	71	First Solar, Inc.(a)		3,717
	188	Intel Corp.		9,043
	9	NVIDIA Corp.		2,204
	21	QUALCOMM, Inc.		1,346
	11	Texas Instruments, Inc.		1,224
	1	Xilinx, Inc.		72
				42,456
		Software — 4.6%
	8	Autodesk, Inc.(a)		1,028
	4	Citrix Systems, Inc.(a)		440
	71	Ellie Mae, Inc.(a)		7,045
	780	Microsoft Corp.		82,742
	512	Oracle Corp.		24,412
	19	Symantec Corp.		384
				116,051
		Specialty Retail — 0.4%
	13	Best Buy Co., Inc.		975
	17	Gap, Inc. (The)		513
	19	Home Depot, Inc. (The)		3,753
	27	Lowe’s Cos., Inc.		2,682
	12	Tiffany & Co.		1,651
				9,574
		Technology Hardware, Storage & Peripherals — 0.6%
	33	Apple, Inc.		6,280
	198	Hewlett Packard Enterprise Co.		3,057
	70	HP, Inc.		1,616
	21	NetApp, Inc.		1,628
	7	Seagate Technology PLC		368
	23	Western Digital Corp.		1,613
	32	Xerox Corp.		831
				15,393
		Textiles, Apparel & Luxury Goods — 0.2%
	15	Hanesbrands, Inc.		334
	49	NIKE, Inc., Class B		3,769
	4	PVH Corp.		614
	7	VF Corp.		644
				5,361
		Trading Companies & Distributors — 0.4%
	51	Fastenal Co.		2,903
	17	W.W. Grainger, Inc.		5,892
				8,795
		Water Utilities — 1.0%
	294	American Water Works Co., Inc.		25,946
		Total Common Stocks (Identified Cost $1,866,761)		2,238,218

See accompanying notes to financial statements.

|  42

Portfolio of Investments – as of July 31, 2018 (Unaudited)

Natixis Sustainable Future 2050 Fund – (continued)

Shares		Description	Value (†)
	Affiliated Mutual Funds — 7.1%
	5,896	Loomis Sayles Inflation Protected Securities Fund, Class N	$	60,378
	2,724	Loomis Sayles Limited Term Government and Agency Fund, Class N		30,347
	9,203	Mirova Global Green Bond Fund, Class N		90,833
		Total Affiliated Mutual Funds (Identified Cost $184,622)		181,558
		Total Investments — 95.1% (Identified Cost $2,051,383)		2,419,776
		Other assets less liabilities — 4.9%		123,979
		Net Assets — 100.0%	$	2,543,755
	(†)	See Note 2 of Notes to Financial Statements.
	(a)	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, 2018 (Unaudited)

Chemicals	6.5	%
Insurance	6.3
IT Services	6.3
Internet Software & Services	5.7
Health Care Equipment & Supplies	5.4
Electrical Equipment	4.7
Software	4.6
Banks	4.5
Pharmaceuticals	3.7
Life Sciences Tools & Services	3.6
Auto Components	2.5
Automobiles	2.4
Industrial Conglomerates	2.1
Other Investments, less than 2% each	29.7
Affiliated Mutual Funds*	7.1
Total Investments	95.1
Other assets less liabilities	4.9
Net Assets	100.0	%

* For more detailed information regarding industry classification, financial statements of affiliated mutual funds (See Note 5 of Notes to Financial Statements) are available, without charge, on the Funds’ website at im.natixis.com.

Asset Allocation Summary at July 31, 2018 (Unaudited)

Equity	88.0	%
Fixed Income	7.1
Total Investments	95.1
Other assets less liabilities	4.9
Net Assets	100.0	%

See accompanying notes to financial statements.

43  |

Portfolio of Investments – as of July 31, 2018 (Unaudited)

Natixis Sustainable Future 2055 Fund

Shares		Description	Value (†)
	Common Stocks — 88.6% of Net Assets
		Aerospace & Defense — 0.1%
	91	Arconic, Inc.	$	1,974
		Air Freight & Logistics — 0.3%
	56	United Parcel Service, Inc., Class B		6,714
		Auto Components — 2.4%
	410	Aptiv PLC		40,209
	136	Delphi Technologies PLC		6,143
	10	Goodyear Tire & Rubber Co. (The)		242
	627	Valeo S.A., Sponsored ADR		15,349
				61,943
		Automobiles — 2.4%
	1,643	Byd Co. Ltd., ADR		18,705
	326	Toyota Motor Corp., Sponsored ADR		42,980
				61,685
		Banks — 4.7%
	476	Bank of America Corp.		14,699
	74	Citizens Financial Group, Inc.		2,944
	192	Huntington Bancshares, Inc.		2,964
	1,261	KBC Group NV, Sponsored ADR		48,536
	179	KeyCorp		3,736
	515	People’s United Financial, Inc.		9,388
	206	Signature Bank		22,600
	26	U.S. Bancorp		1,378
	161	Wells Fargo & Co.		9,224
	74	Zions Bancorporation		3,826
				119,295
		Beverages — 0.7%
	62	Brown-Forman Corp., Class B		3,300
	159	Coca-Cola Co. (The)		7,414
	16	Molson Coors Brewing Co., Class B		1,072
	56	PepsiCo, Inc.		6,440
				18,226
		Biotechnology — 1.5%
	13	AbbVie, Inc.		1,199
	12	Amgen, Inc.		2,359
	432	Gilead Sciences, Inc.		33,622
				37,180
		Building Products — 1.7%
	557	A.O. Smith Corp.		33,158
	266	Johnson Controls International PLC		9,978
				43,136
		Capital Markets — 2.0%
	12	Affiliated Managers Group, Inc.		1,920
	12	Ameriprise Financial, Inc.		1,748
	128	Bank of New York Mellon Corp. (The)		6,844
	12	BlackRock, Inc.		6,033
	21	Charles Schwab Corp. (The)		1,072
	22	CME Group, Inc.		3,501
	97	Franklin Resources, Inc.		3,329
	39	Goldman Sachs Group, Inc. (The)		9,260
	17	Intercontinental Exchange, Inc.		1,256
	51	Invesco Ltd.		1,377
	11	Legg Mason, Inc.		375
	7	Moody’s Corp.		1,198
	18	Nasdaq, Inc.		1,645
	60	Northern Trust Corp.		6,553
	6	S&P Global, Inc.		1,203
	47	State Street Corp.		4,151
				51,465
		Chemicals — 6.6%
	14	Air Products & Chemicals, Inc.		2,298
	469	Chr. Hansen Holding AS, Sponsored ADR		24,254
	425	Ecolab, Inc.		59,798
	104	International Flavors & Fragrances, Inc.		13,807
	247	Novozymes AS, Sponsored ADR		12,987
	59	Praxair, Inc.		9,883
	1,977	Symrise AG, Sponsored ADR		44,572
				167,599
		Commercial Services & Supplies — 0.1%
	14	Stericycle, Inc.(a)		978
	29	Waste Management, Inc.		2,610
				3,588
		Communications Equipment — 0.6%
	345	Cisco Systems, Inc.		14,590
	11	Motorola Solutions, Inc.		1,334
				15,924
		Construction & Engineering — 0.1%
	48	Fluor Corp.		2,460
		Consumer Finance — 0.5%
	47	American Express Co.		4,677
	70	Discover Financial Services		4,999
	65	Navient Corp.		859
	45	Synchrony Financial		1,302
				11,837
		Containers & Packaging — 0.2%
	73	Ball Corp.		2,845
	17	Crown Holdings, Inc.(a)		770
	51	International Paper Co.		2,740
				6,355
		Distributors — 0.2%
	40	Genuine Parts Co.		3,892
		Diversified Consumer Services — 0.0%
	15	H&R Block, Inc.		377
		Diversified Telecommunication Services — 1.1%
	465	AT&T, Inc.		14,866
	234	Verizon Communications, Inc.		12,084
				26,950
		Electric Utilities — 1.6%
	245	NextEra Energy, Inc.		41,047
	14	Xcel Energy, Inc.		656
				41,703
		Electrical Equipment — 4.6%
	177	Acuity Brands, Inc.		24,608
	787	Eaton Corp. PLC		65,455
	1,292	Vestas Wind Systems AS, Sponsored ADR		27,688
				117,751
		Electronic Equipment, Instruments & Components — 0.1%
	14	TE Connectivity Ltd.		1,310
		Food & Staples Retailing — 0.4%
	38	Kroger Co. (The)		1,102
	92	Sysco Corp.		6,183
	22	Walmart, Inc.		1,963
				9,248
		Food Products — 1.6%
	72	Campbell Soup Co.		2,945
	62	Conagra Brands, Inc.		2,276
	1,444	Danone S.A., Sponsored ADR		22,584

See accompanying notes to financial statements.

|  44

Portfolio of Investments – as of July 31, 2018 (Unaudited)

Natixis Sustainable Future 2055 Fund – (continued)

Shares		Description	Value (†)
		Food Products — continued
	25	General Mills, Inc.	$	1,152
	21	Hershey Co. (The)		2,062
	15	Hormel Foods Corp.		540
	15	J.M. Smucker Co. (The)		1,667
	33	Kellogg Co.		2,344
	93	Mondelez International, Inc., Class A		4,034
				39,604
		Health Care Equipment & Supplies — 5.5%
	62	Baxter International, Inc.		4,492
	1,397	Coloplast AS, Sponsored ADR		15,150
	584	Danaher Corp.		59,907
	14	DENTSPLY SIRONA, Inc.		674
	733	Essilor International Cie Generale d’Optique S.A., Sponsored ADR		54,018
	55	Medtronic PLC		4,963
				139,204
		Health Care Providers & Services — 1.9%
	17	Aetna, Inc.		3,203
	24	Anthem, Inc.		6,072
	7	Cigna Corp.		1,256
	68	CVS Health Corp.		4,410
	25	DaVita, Inc.(a)		1,757
	5	Envision Healthcare Corp.(a)		221
	43	Express Scripts Holding Co.(a)		3,417
	871	Fresenius SE & Co. KGaA, Sponsored ADR		16,806
	20	HCA Healthcare, Inc.		2,484
	9	Humana, Inc.		2,828
	2	Laboratory Corp. of America Holdings(a)		351
	10	Quest Diagnostics, Inc.		1,077
	21	UnitedHealth Group, Inc.		5,318
	2	Universal Health Services, Inc., Class B		244
				49,444
		Home Construction — 0.5%
	300	Geberit AG, ADR		12,843
		Hotels, Restaurants & Leisure — 0.2%
	9	Carnival Corp.		533
	6	McDonald’s Corp.		945
	95	MGM Resorts International		2,980
	19	Starbucks Corp.		996
				5,454
		Household Durables — 1.1%
	8	Lennar Corp., Class A		418
	1,636	Sekisui House Ltd., Sponsored ADR		27,935
	2	Whirlpool Corp.		262
				28,615
		Household Products — 0.6%
	7	Church & Dwight Co., Inc.		391
	13	Clorox Co. (The)		1,757
	54	Colgate-Palmolive Co.		3,619
	115	Procter & Gamble Co. (The)		9,301
				15,068
		Independent Power & Renewable Electricity Producers — 0.3%
	68	Ormat Technologies, Inc.		3,689
	213	Pattern Energy Group, Inc.		3,955
				7,644
		Industrial Conglomerates — 2.0%
	341	General Electric Co.		4,648
	157	Roper Technologies, Inc.		47,398
				52,046
		Industrial Other — 0.0%
	26	Iron Mountain, Inc.		913
		Insurance — 6.3%
	25	Aflac, Inc.		1,164
	1,495	AIA Group Ltd., Sponsored ADR		52,564
	767	Allianz SE, Sponsored ADR		16,916
	9	Allstate Corp. (The)		856
	22	Brighthouse Financial, Inc.(a)		956
	69	Hartford Financial Services Group, Inc. (The)		3,636
	1,382	Legal & General Group PLC, Sponsored ADR		24,475
	57	Lincoln National Corp.		3,882
	108	MetLife, Inc.		4,940
	60	Prudential Financial, Inc.		6,055
	732	Prudential PLC, Sponsored ADR		34,638
	91	Torchmark Corp.		8,014
	62	Unum Group		2,463
				160,559
		Internet & Direct Marketing Retail — 1.8%
	24	Amazon.com, Inc.(a)		42,658
	1	Booking Holdings, Inc.(a)		2,029
	6	Netflix, Inc.(a)		2,025
	7	TripAdvisor, Inc.(a)		406
				47,118
		Internet Software & Services — 5.8%
	6	Akamai Technologies, Inc.(a)		451
	80	Alphabet, Inc., Class A(a)		98,178
	2	Alphabet, Inc., Class C(a)		2,434
	265	Facebook, Inc., Class A(a)		45,734
				146,797
		IT Services — 6.3%
	6	Accenture PLC, Class A		956
	21	Cognizant Technology Solutions Corp., Class A		1,712
	41	International Business Machines Corp.		5,942
	474	MasterCard, Inc., Class A		93,852
	20	PayPal Holdings, Inc.(a)		1,643
	402	Visa, Inc., Class A		54,969
	63	Western Union Co. (The)		1,270
				160,344
		Life Sciences Tools & Services — 3.6%
	17	Agilent Technologies, Inc.		1,123
	38	Illumina, Inc.(a)		12,326
	336	Thermo Fisher Scientific, Inc.		78,802
				92,251
		Machinery — 1.7%
	61	Caterpillar, Inc.		8,772
	6	Cummins, Inc.		857
	32	Deere & Co.		4,633
	61	Flowserve Corp.		2,704
	4	Ingersoll-Rand PLC		394
	18	Parker Hannifin Corp.		3,043
	207	Watts Water Technologies, Inc., Series A		17,709
	55	Xylem, Inc.		4,211
				42,323
		Media — 0.6%
	31	CBS Corp., Class B		1,633
	14	Interpublic Group of Cos., Inc. (The)		316
	71	News Corp., Class A		1,070
	4	Omnicom Group, Inc.		275
	56	Twenty-First Century Fox, Inc., Class A		2,520
	33	Twenty-First Century Fox, Inc., Class B		1,466
	74	Walt Disney Co. (The)		8,403
				15,683

See accompanying notes to financial statements.

45  |

Portfolio of Investments – as of July 31, 2018 (Unaudited)

Natixis Sustainable Future 2055 Fund – (continued)

Shares		Description	Value (†)
		Metals & Mining — 0.2%
	144	Newmont Mining Corp.	$	5,282
		Multiline Retail — 0.1%
	14	Kohl’s Corp.		1,034
	11	Macy’s, Inc.		437
	24	Target Corp.		1,937
				3,408
		Personal Products — 1.8%
	119	Estee Lauder Cos., Inc. (The), Class A		16,058
	533	Unilever NV		30,626
				46,684
		Pharmaceuticals — 3.8%
	22	Allergan PLC		4,050
	62	Bristol-Myers Squibb Co.		3,642
	39	Eli Lilly & Co.		3,854
	106	Johnson & Johnson		14,047
	95	Merck & Co., Inc.		6,258
	55	Mylan NV(a)		2,052
	1,051	Novo Nordisk AS, Sponsored ADR		52,308
	244	Pfizer, Inc.		9,743
				95,954
		Professional Services — 0.1%
	34	IHS Markit Ltd.(a)		1,803
	31	Nielsen Holdings PLC		730
	3	Verisk Analytics, Inc.(a)		332
				2,865
		Real Estate Management & Development — 0.0%
	23	CBRE Group, Inc., Class A(a)		1,145
		REITs – Apartments — 0.2%
	6	AvalonBay Communities, Inc.		1,061
	42	Equity Residential		2,748
	7	Essex Property Trust, Inc.		1,683
	4	Mid-America Apartment Communities, Inc.		403
				5,895
		REITs – Diversified — 0.7%
	96	Crown Castle International Corp.		10,640
	12	Digital Realty Trust, Inc.		1,457
	2	Equinix, Inc.		879
	21	Vornado Realty Trust		1,510
	95	Weyerhaeuser Co.		3,247
				17,733
		REITs – Health Care — 0.3%
	48	HCP, Inc.		1,243
	35	Ventas, Inc.		1,973
	81	Welltower, Inc.		5,071
				8,287
		REITs – Hotels — 0.1%
	120	Host Hotels & Resorts, Inc.		2,513
		REITs – Office Property — 0.1%
	15	Boston Properties, Inc.		1,883
		REITs – Regional Malls — 0.0%
	5	Macerich Co. (The)		295
		REITs – Single Tenant — 0.0%
	7	Realty Income Corp.		390
		REITs – Storage — 0.1%
	14	Public Storage		3,050
		Road & Rail — 0.7%
	27	Kansas City Southern		3,139
	40	Norfolk Southern Corp.		6,760
	55	Union Pacific Corp.		8,244
				18,143
		Semiconductors & Semiconductor Equipment — 1.6%
	46	Advanced Micro Devices, Inc.(a)		843
	37	Applied Materials, Inc.		1,799
	96	ASML Holding NV, (Registered)		20,544
	71	First Solar, Inc.(a)		3,717
	200	Intel Corp.		9,620
	9	NVIDIA Corp.		2,204
	17	QUALCOMM, Inc.		1,090
	11	Texas Instruments, Inc.		1,224
	1	Xilinx, Inc.		72
				41,113
		Software — 4.6%
	8	Autodesk, Inc.(a)		1,028
	4	Citrix Systems, Inc.(a)		440
	71	Ellie Mae, Inc.(a)		7,045
	779	Microsoft Corp.		82,636
	519	Oracle Corp.		24,746
	19	Symantec Corp.		384
				116,279
		Specialty Retail — 0.4%
	13	Best Buy Co., Inc.		975
	17	Gap, Inc. (The)		513
	19	Home Depot, Inc. (The)		3,753
	26	Lowe’s Cos., Inc.		2,583
	12	Tiffany & Co.		1,651
				9,475
		Technology Hardware, Storage & Peripherals — 0.6%
	33	Apple, Inc.		6,280
	199	Hewlett Packard Enterprise Co.		3,072
	71	HP, Inc.		1,639
	21	NetApp, Inc.		1,628
	7	Seagate Technology PLC		368
	20	Western Digital Corp.		1,403
	32	Xerox Corp.		831
				15,221
		Textiles, Apparel & Luxury Goods — 0.2%
	15	Hanesbrands, Inc.		334
	49	NIKE, Inc., Class B		3,769
	4	PVH Corp.		614
	7	VF Corp.		644
				5,361
		Trading Companies & Distributors — 0.3%
	51	Fastenal Co.		2,903
	17	W.W. Grainger, Inc.		5,892
				8,795
		Water Utilities — 1.0%
	280	American Water Works Co., Inc.		24,710
		Total Common Stocks (Identified Cost $1,890,931)		2,261,003

See accompanying notes to financial statements.

|  46

Portfolio of Investments – as of July 31, 2018 (Unaudited)

Natixis Sustainable Future 2055 Fund – (continued)

Shares		Description	Value (†)
	Affiliated Mutual Funds — 6.5%
	5,431	Loomis Sayles Inflation Protected Securities Fund, Class N	$	55,612
	2,504	Loomis Sayles Limited Term Government and Agency Fund, Class N		27,897
	8,459	Mirova Global Green Bond Fund, Class N		83,495
		Total Affiliated Mutual Funds (Identified Cost $170,033)		167,004
		Total Investments — 95.1% (Identified Cost $2,060,964)		2,428,007
		Other assets less liabilities — 4.9%		124,173
		Net Assets — 100.0%	$	2,552,180
	(†)	See Note 2 of Notes to Financial Statements.
	(a)	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, 2018 (Unaudited)

Chemicals	6.6	%
Insurance	6.3
IT Services	6.3
Internet Software & Services	5.8
Health Care Equipment & Supplies	5.5
Banks	4.7
Electrical Equipment	4.6
Software	4.6
Pharmaceuticals	3.8
Life Sciences Tools & Services	3.6
Auto Components	2.4
Automobiles	2.4
Industrial Conglomerates	2.0
Capital Markets	2.0
Other Investments, less than 2% each	28.0
Affiliated Mutual Funds*	6.5
Total Investments	95.1
Other assets less liabilities	4.9
Net Assets	100.0	%

* For more detailed information regarding industry classification, financial statements of affiliated mutual funds (See Note 5 of Notes to Financial Statements) are available, without charge, on the Funds’ website at im.natixis.com.

Asset Allocation Summary at July 31, 2018 (Unaudited)

Equity	88.6	%
Fixed Income	6.5
Total Investments	95.1
Other assets less liabilities	4.9
Net Assets	100.0	%

See accompanying notes to financial statements.

47  |

Portfolio of Investments – as of July 31, 2018 (Unaudited)

Natixis Sustainable Future 2060 Fund

Shares		Description	Value (†)
	Common Stocks — 89.0% of Net Assets
		Aerospace & Defense — 0.1%
	92	Arconic, Inc.	$	1,995
		Air Freight & Logistics — 0.2%
	53	United Parcel Service, Inc., Class B		6,354
		Auto Components — 2.5%
	409	Aptiv PLC		40,111
	136	Delphi Technologies PLC		6,143
	10	Goodyear Tire & Rubber Co. (The)		242
	672	Valeo S.A., Sponsored ADR		16,450
				62,946
		Automobiles — 2.5%
	1,671	Byd Co. Ltd., ADR		19,025
	336	Toyota Motor Corp., Sponsored ADR		44,298
				63,323
		Banks — 4.6%
	449	Bank of America Corp.		13,865
	74	Citizens Financial Group, Inc.		2,944
	194	Huntington Bancshares, Inc.		2,995
	1,251	KBC Group NV, Sponsored ADR		48,151
	180	KeyCorp		3,757
	492	People’s United Financial, Inc.		8,969
	210	Signature Bank		23,039
	26	U.S. Bancorp		1,378
	149	Wells Fargo & Co.		8,536
	74	Zions Bancorporation		3,826
				117,460
		Beverages — 0.7%
	63	Brown-Forman Corp., Class B		3,353
	148	Coca-Cola Co. (The)		6,901
	16	Molson Coors Brewing Co., Class B		1,072
	52	PepsiCo, Inc.		5,980
				17,306
		Biotechnology — 1.5%
	13	AbbVie, Inc.		1,199
	12	Amgen, Inc.		2,359
	440	Gilead Sciences, Inc.		34,245
				37,803
		Building Products — 1.7%
	567	A.O. Smith Corp.		33,753
	247	Johnson Controls International PLC		9,265
				43,018
		Capital Markets — 2.0%
	12	Affiliated Managers Group, Inc.		1,920
	12	Ameriprise Financial, Inc.		1,748
	121	Bank of New York Mellon Corp. (The)		6,470
	12	BlackRock, Inc.		6,033
	25	Charles Schwab Corp. (The)		1,277
	22	CME Group, Inc.		3,501
	96	Franklin Resources, Inc.		3,295
	36	Goldman Sachs Group, Inc. (The)		8,547
	17	Intercontinental Exchange, Inc.		1,256
	52	Invesco Ltd.		1,403
	11	Legg Mason, Inc.		375
	7	Moody’s Corp.		1,198
	18	Nasdaq, Inc.		1,645
	58	Northern Trust Corp.		6,335
	6	S&P Global, Inc.		1,203
	50	State Street Corp.		4,416
				50,622
		Chemicals — 6.7%
	14	Air Products & Chemicals, Inc.		2,298
	503	Chr. Hansen Holding AS, Sponsored ADR		26,013
	439	Ecolab, Inc.		61,767
	104	International Flavors & Fragrances, Inc.		13,807
	247	Novozymes AS, Sponsored ADR		12,987
	55	Praxair, Inc.		9,213
	2,032	Symrise AG, Sponsored ADR		45,812
				171,897
		Commercial Services & Supplies — 0.1%
	14	Stericycle, Inc.(a)		978
	29	Waste Management, Inc.		2,610
				3,588
		Communications Equipment — 0.6%
	330	Cisco Systems, Inc.		13,956
	13	Motorola Solutions, Inc.		1,577
				15,533
		Construction & Engineering — 0.1%
	49	Fluor Corp.		2,511
		Consumer Finance — 0.4%
	43	American Express Co.		4,279
	71	Discover Financial Services		5,070
	70	Navient Corp.		925
	45	Synchrony Financial		1,302
				11,576
		Containers & Packaging — 0.2%
	78	Ball Corp.		3,040
	11	Crown Holdings, Inc.(a)		498
	51	International Paper Co.		2,740
				6,278
		Distributors — 0.2%
	41	Genuine Parts Co.		3,990
		Diversified Consumer Services — 0.0%
	15	H&R Block, Inc.		377
		Diversified Telecommunication Services — 1.0%
	453	AT&T, Inc.		14,482
	220	Verizon Communications, Inc.		11,361
				25,843
		Electric Utilities — 1.7%
	255	NextEra Energy, Inc.		42,723
	14	Xcel Energy, Inc.		656
				43,379
		Electrical Equipment — 4.7%
	177	Acuity Brands, Inc.		24,609
	801	Eaton Corp. PLC		66,619
	1,314	Vestas Wind Systems AS, Sponsored ADR		28,159
				119,387
		Electronic Equipment, Instruments & Components — 0.1%
	14	TE Connectivity Ltd.		1,310
		Food & Staples Retailing — 0.4%
	38	Kroger Co. (The)		1,102
	88	Sysco Corp.		5,915
	23	Walmart, Inc.		2,052
				9,069
		Food Products — 1.6%
	74	Campbell Soup Co.		3,027
	63	Conagra Brands, Inc.		2,313
	1,468	Danone S.A., Sponsored ADR		22,959

See accompanying notes to financial statements.

|  48

Portfolio of Investments – as of July 31, 2018 (Unaudited)

Natixis Sustainable Future 2060 Fund – (continued)

Shares		Description	Value (†)
		Food Products — continued
	25	General Mills, Inc.	$	1,151
	23	Hershey Co. (The)		2,259
	16	Hormel Foods Corp.		575
	15	J.M. Smucker Co. (The)		1,667
	33	Kellogg Co.		2,344
	94	Mondelez International, Inc., Class A		4,078
				40,373
		Health Care Equipment & Supplies — 5.4%
	57	Baxter International, Inc.		4,130
	1,397	Coloplast AS, Sponsored ADR		15,150
	581	Danaher Corp.		59,599
	14	DENTSPLY SIRONA, Inc.		674
	727	Essilor International Cie Generale d’Optique S.A., Sponsored ADR		53,576
	55	Medtronic PLC		4,963
				138,092
		Health Care Providers & Services — 1.9%
	17	Aetna, Inc.		3,202
	23	Anthem, Inc.		5,819
	7	Cigna Corp.		1,256
	66	CVS Health Corp.		4,281
	25	DaVita, Inc.(a)		1,757
	7	Envision Healthcare Corp.(a)		310
	43	Express Scripts Holding Co.(a)		3,417
	891	Fresenius SE & Co. KGaA, Sponsored ADR		17,192
	22	HCA Healthcare, Inc.		2,733
	9	Humana, Inc.		2,827
	2	Laboratory Corp. of America Holdings(a)		351
	10	Quest Diagnostics, Inc.		1,077
	22	UnitedHealth Group, Inc.		5,571
	2	Universal Health Services, Inc., Class B		244
				50,037
		Home Construction — 0.5%
	300	Geberit AG, ADR		12,843
		Hotels, Restaurants & Leisure — 0.2%
	9	Carnival Corp.		533
	6	McDonald’s Corp.		945
	92	MGM Resorts International		2,886
	23	Starbucks Corp.		1,205
				5,569
		Household Durables — 1.1%
	8	Lennar Corp., Class A		418
	1,629	Sekisui House Ltd., Sponsored ADR		27,815
	3	Whirlpool Corp.		394
				28,627
		Household Products — 0.6%
	7	Church & Dwight Co., Inc.		391
	13	Clorox Co. (The)		1,757
	55	Colgate-Palmolive Co.		3,686
	110	Procter & Gamble Co. (The)		8,897
				14,731
		Independent Power & Renewable Electricity Producers — 0.3%
	70	Ormat Technologies, Inc.		3,797
	219	Pattern Energy Group, Inc.		4,067
				7,864
		Industrial Conglomerates — 2.1%
	346	General Electric Co.		4,716
	159	Roper Technologies, Inc.		48,002
				52,718
		Industrial Other — 0.0%
	26	Iron Mountain, Inc.		913
		Insurance — 6.3%
	24	Aflac, Inc.		1,117
	1,482	AIA Group Ltd., Sponsored ADR		52,107
	834	Allianz SE, Sponsored ADR		18,394
	9	Allstate Corp. (The)		856
	22	Brighthouse Financial, Inc.(a)		955
	63	Hartford Financial Services Group, Inc. (The)		3,320
	1,468	Legal & General Group PLC, Sponsored ADR		25,998
	57	Lincoln National Corp.		3,882
	108	MetLife, Inc.		4,940
	61	Prudential Financial, Inc.		6,156
	722	Prudential PLC, Sponsored ADR		34,165
	84	Torchmark Corp.		7,398
	60	Unum Group		2,384
				161,672
		Internet & Direct Marketing Retail — 1.9%
	25	Amazon.com, Inc.(a)		44,436
	1	Booking Holdings, Inc.(a)		2,029
	6	Netflix, Inc.(a)		2,024
	7	TripAdvisor, Inc.(a)		406
				48,895
		Internet Software & Services — 5.8%
	6	Akamai Technologies, Inc.(a)		452
	81	Alphabet, Inc., Class A(a)		99,405
	2	Alphabet, Inc., Class C(a)		2,434
	269	Facebook, Inc., Class A(a)		46,424
				148,715
		IT Services — 6.4%
	6	Accenture PLC, Class A		956
	21	Cognizant Technology Solutions Corp., Class A		1,711
	41	International Business Machines Corp.		5,942
	485	MasterCard, Inc., Class A		96,030
	20	PayPal Holdings, Inc.(a)		1,643
	408	Visa, Inc., Class A		55,790
	62	Western Union Co. (The)		1,250
				163,322
		Life Sciences Tools & Services — 3.7%
	20	Agilent Technologies, Inc.		1,321
	38	Illumina, Inc.(a)		12,326
	342	Thermo Fisher Scientific, Inc.		80,209
				93,856
		Machinery — 1.6%
	56	Caterpillar, Inc.		8,053
	7	Cummins, Inc.		1,000
	33	Deere & Co.		4,778
	61	Flowserve Corp.		2,704
	4	Ingersoll-Rand PLC		394
	18	Parker Hannifin Corp.		3,043
	207	Watts Water Technologies, Inc., Series A		17,709
	56	Xylem, Inc.		4,287
				41,968
		Media — 0.6%
	34	CBS Corp., Class B		1,791
	14	Interpublic Group of Cos., Inc. (The)		316
	72	News Corp., Class A		1,085
	4	Omnicom Group, Inc.		275
	57	Twenty-First Century Fox, Inc., Class A		2,565
	33	Twenty-First Century Fox, Inc., Class B		1,466
	75	Walt Disney Co. (The)		8,517
				16,015

See accompanying notes to financial statements.

49  |

Portfolio of Investments – as of July 31, 2018 (Unaudited)

Natixis Sustainable Future 2060 Fund – (continued)

Shares		Description	Value (†)
		Metals & Mining — 0.2%
	147	Newmont Mining Corp.	$	5,392
		Multiline Retail — 0.1%
	14	Kohl’s Corp.		1,034
	11	Macy’s, Inc.		437
	22	Target Corp.		1,775
				3,246
		Personal Products — 1.8%
	121	Estee Lauder Cos., Inc. (The), Class A		16,328
	526	Unilever NV		30,224
				46,552
		Pharmaceuticals — 3.7%
	23	Allergan PLC		4,234
	62	Bristol-Myers Squibb Co.		3,642
	39	Eli Lilly & Co.		3,854
	101	Johnson & Johnson		13,385
	99	Merck & Co., Inc.		6,521
	59	Mylan NV(a)		2,201
	1,043	Novo Nordisk AS, Sponsored ADR		51,910
	246	Pfizer, Inc.		9,823
				95,570
		Professional Services — 0.1%
	35	IHS Markit Ltd.(a)		1,856
	32	Nielsen Holdings PLC		754
	3	Verisk Analytics, Inc.(a)		332
				2,942
		Real Estate Management & Development — 0.1%
	28	CBRE Group, Inc., Class A(a)		1,394
		REITs – Apartments — 0.2%
	6	AvalonBay Communities, Inc.		1,061
	42	Equity Residential		2,748
	7	Essex Property Trust, Inc.		1,683
	4	Mid-America Apartment Communities, Inc.		403
				5,895
		REITs – Diversified — 0.7%
	89	Crown Castle International Corp.		9,864
	11	Digital Realty Trust, Inc.		1,336
	2	Equinix, Inc.		878
	22	Vornado Realty Trust		1,582
	93	Weyerhaeuser Co.		3,179
				16,839
		REITs – Health Care — 0.3%
	49	HCP, Inc.		1,269
	36	Ventas, Inc.		2,030
	84	Welltower, Inc.		5,258
				8,557
		REITs – Hotels — 0.1%
	121	Host Hotels & Resorts, Inc.		2,534
		REITs – Office Property — 0.1%
	15	Boston Properties, Inc.		1,883
		REITs – Regional Malls — 0.0%
	6	Macerich Co. (The)		354
		REITs – Single Tenant — 0.0%
	7	Realty Income Corp.		390
		REITs – Storage — 0.1%
	14	Public Storage		3,050
		Road & Rail — 0.7%
	29	Kansas City Southern		3,372
	39	Norfolk Southern Corp.		6,591
	55	Union Pacific Corp.		8,244
				18,207
		Semiconductors & Semiconductor Equipment — 1.7%
	46	Advanced Micro Devices, Inc.(a)		843
	38	Applied Materials, Inc.		1,848
	105	ASML Holding NV, (Registered)		22,470
	72	First Solar, Inc.(a)		3,769
	192	Intel Corp.		9,236
	8	NVIDIA Corp.		1,959
	21	QUALCOMM, Inc.		1,346
	13	Texas Instruments, Inc.		1,447
	1	Xilinx, Inc.		72
				42,990
		Software — 4.6%
	8	Autodesk, Inc.(a)		1,028
	4	Citrix Systems, Inc.(a)		440
	72	Ellie Mae, Inc.(a)		7,144
	793	Microsoft Corp.		84,121
	528	Oracle Corp.		25,175
	19	Symantec Corp.		384
				118,292
		Specialty Retail — 0.4%
	13	Best Buy Co., Inc.		975
	18	Gap, Inc. (The)		543
	19	Home Depot, Inc. (The)		3,753
	29	Lowe’s Cos., Inc.		2,881
	12	Tiffany & Co.		1,651
				9,803
		Technology Hardware, Storage & Peripherals — 0.6%
	33	Apple, Inc.		6,280
	202	Hewlett Packard Enterprise Co.		3,119
	60	HP, Inc.		1,385
	21	NetApp, Inc.		1,628
	7	Seagate Technology PLC		368
	23	Western Digital Corp.		1,613
	32	Xerox Corp.		831
				15,224
		Textiles, Apparel & Luxury Goods — 0.2%
	15	Hanesbrands, Inc.		334
	49	NIKE, Inc., Class B		3,769
	4	PVH Corp.		614
	7	VF Corp.		644
				5,361
		Trading Companies & Distributors — 0.3%
	53	Fastenal Co.		3,017
	17	W.W. Grainger, Inc.		5,892
				8,909
		Water Utilities — 1.0%
	300	American Water Works Co., Inc.		26,475
		Total Common Stocks (Identified Cost $1,910,389)		2,281,634

See accompanying notes to financial statements.

|  50

Portfolio of Investments – as of July 31, 2018 (Unaudited)

Natixis Sustainable Future 2060 Fund – (continued)

Shares		Description	Value (†)
	Affiliated Mutual Funds — 6.5%
	5,359	Loomis Sayles Inflation Protected Securities Fund, Class N	$	54,877
	2,472	Loomis Sayles Limited Term Government and Agency Fund, Class N		27,534
	8,363	Mirova Global Green Bond Fund, Class N		82,545
		Total Affiliated Mutual Funds (Identified Cost $168,062)		164,956
		Total Investments — 95.5% (Identified Cost $2,078,451)		2,446,590
		Other assets less liabilities — 4.5%		116,114
		Net Assets — 100.0%	$	2,562,704
	(†)	See Note 2 of Notes to Financial Statements.
	(a)	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, 2018 (Unaudited)

Chemicals	6.7	%
IT Services	6.4
Insurance	6.3
Internet Software & Services	5.8
Health Care Equipment & Supplies	5.4
Electrical Equipment	4.7
Software	4.6
Banks	4.6
Pharmaceuticals	3.7
Life Sciences Tools & Services	3.7
Automobiles	2.5
Auto Components	2.5
Industrial Conglomerates	2.1
Capital Markets	2.0
Other Investments, less than 2% each	28.0
Affiliated Mutual Funds*	6.5
Total Investments	95.5
Other assets less liabilities	4.5
Net Assets	100.0	%

* For more detailed information regarding industry classification, financial statements of affiliated mutual funds (See Note 5 of Notes to Financial Statements) are available, without charge, on the Funds’ website at im.natixis.com.

Asset Allocation Summary at July 31, 2018 (Unaudited)

Equity	89.0	%
Fixed Income	6.5
Total Investments	95.5
Other assets less liabilities	4.5
Net Assets	100.0	%

See accompanying notes to financial statements.

51  |

This Page Intentionally Left Blank

|  52

Statements of Assets and Liabilities

July 31, 2018 (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	$	1,730,183		$	2,015,071		$	1,751,767		$	1,784,036
Affiliated investments at cost		2,356,883			2,061,046			1,301,743			837,455
Net unrealized appreciation on unaffiliated investments		340,928			404,606			348,329			346,847
Net unrealized depreciation on affiliated investments		(40,056	)		(33,549	)		(21,232	)		(13,957	)
Investments at value		4,387,938			4,447,174			3,380,607			2,954,381
Cash		176,241			192,200			158,462			168,830
Receivable from investment adviser (Note 5)		13,862			13,788			13,395			13,176
Dividends receivable		1,365			1,539			1,314			1,401
Dividends receivable from affiliates		1,015			944			597			353
Tax reclaims receivable		1,049			1,416			1,098			1,129
Prepaid expenses (Note 6)		7			7			6			5
TOTAL ASSETS		4,581,477			4,657,068			3,555,479			3,139,275
LIABILITIES
Payable for securities purchased		1,015			944			597			352
Deferred Trustees’ fees (Note 5)		5,353			5,354			5,343			5,337
Administrative fees payable (Note 5)		155			168			127			105
Other accounts payable and accrued expenses		46,917			46,841			47,095			47,185
TOTAL LIABILITIES		53,440			53,307			53,162			52,979
NET ASSETS	$	4,528,037		$	4,603,761		$	3,502,317		$	3,086,296
NET ASSETS CONSIST OF:
Paid-in capital	$	4,134,884		$	4,134,373		$	3,092,979		$	2,674,786
Undistributed net investment income		39,667			37,730			26,221			20,652
Accumulated net realized gain on investments		52,614			60,601			56,020			57,968
Net unrealized appreciation on investments		300,872			371,057			327,097			332,890
NET ASSETS	$	4,528,037		$	4,603,761		$	3,502,317		$	3,086,296
COMPUTATION OF NET ASSET VALUE AND OFFERING PRICE:
Class N shares:
Net assets	$	4,528,037		$	4,603,761		$	3,502,317		$	3,086,296
Shares of beneficial interest		412,627			412,406			308,519			265,519
Net asset value, offering and redemption price per share	$	10.97		$	11.16		$	11.35		$	11.62

See accompanying notes to financial statements.

53  |

Statements of Assets and Liabilities (continued)

July 31, 2018 (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
$	2,005,861		$	2,124,919		$	1,857,439		$	1,866,761		$	1,890,931		$	1,910,389
	585,967			396,540			223,329			184,622			170,033			168,062
	393,835			421,271			359,256			371,457			370,072			371,245
	(10,352	)		(6,965	)		(4,106	)		(3,064	)		(3,029	)		(3,106	)
	2,975,311			2,935,765			2,435,918			2,419,776			2,428,007			2,446,590
	167,475			167,719			149,314			161,415			161,556			153,493
	13,113			12,990			13,005			12,946			12,961			13,009
	1,598			1,586			1,341			1,320			1,344			1,390
	239			121			102			56			98			99
	1,260			1,312			1,146			1,120			1,102			1,154
	5			5			4			4			4			4
	3,159,001			3,119,498			2,600,830			2,596,637			2,605,072			2,615,739
	238			121			102			56			54			51
	5,338			5,338			5,332			5,332			5,332			5,332
	113			111			89			89			89			90
	47,291			47,198			47,449			47,405			47,417			47,562
	52,980			52,768			52,972			52,882			52,892			53,035
$	3,106,021		$	3,066,730		$	2,547,858		$	2,543,755		$	2,552,180		$	2,562,704
$	2,643,056		$	2,566,653		$	2,120,837		$	2,107,128		$	2,113,898		$	2,122,618
	19,780			18,540			13,831			13,365			13,216			13,655
	59,702			67,231			58,040			54,869			58,023			58,292
	383,483			414,306			355,150			368,393			367,043			368,139
$	3,106,021		$	3,066,730		$	2,547,858		$	2,543,755		$	2,552,180		$	2,562,704
$	3,106,021		$	3,066,730		$	2,547,858		$	2,543,755		$	2,552,180		$	2,562,704
	262,566			255,891			210,455			209,341			209,753			210,557
$	11.83		$	11.98		$	12.11		$	12.15		$	12.17		$	12.17

See accompanying notes to financial statements.

|  54

Statements of Operations

For the Six Months Ended July 31, 2018 (Unaudited)

	Natixis Sustainable Future 2015 Fund			Natixis Sustainable Future 2020 Fund			Natixis Sustainable Future 2025 Fund			Natixis Sustainable Future 2030 Fund
INVESTMENT INCOME
Dividends from unaffiliated investments	$	21,327		$	24,852		$	21,538		$	21,699
Dividends from affiliated investments		30,522			26,095			16,491			10,583
Interest		145			162			143			130
Less net foreign taxes withheld		(1,136	)		(1,394	)		(1,224	)		(1,185	)
		50,858			49,715			36,948			31,227
Expenses
Management fees (Note 5)		21,974			23,019			18,127			16,182
Administrative fees (Note 5)		971			991			753			646
Trustees’ fees and expenses (Note 5)		8,138			8,139			8,126			8,120
Transfer agent fees and expenses		702			707			707			710
Audit and tax services fees		18,101			18,101			18,101			18,101
Custodian fees and expenses		9,143			9,026			9,107			9,116
Legal fees		4,864			4,943			3,758			3,232
Registration fees		19,848			19,848			19,848			19,848
Shareholder reporting expenses		3,116			3,357			2,384			2,020
Miscellaneous expenses (Note 6)		7,311			7,312			7,293			7,291
Total expenses		94,168			95,443			88,204			85,266
Less waiver and/or expense reimbursement (Note 5)		(86,208	)		(86,689	)		(80,703	)		(77,914	)
Net expenses		7,960			8,754			7,501			7,352
Net investment income		42,898			40,961			29,447			23,875
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS
Net realized gain (loss) on:
Unaffiliated investments		52,039			59,767			55,223			57,127
Affiliated investments		(429	)		(406	)		(323	)		(261	)
Net change in unrealized appreciation (depreciation) on:
Unaffiliated investments		(88,518	)		(103,775	)		(94,181	)		(94,643	)
Affiliated investments		(13,722	)		(9,977	)		(6,277	)		(4,434	)
Net realized and unrealized loss on investments		(50,630	)		(54,391	)		(45,558	)		(42,211	)
NET DECREASE IN NET ASSETS RESULTING FROM OPERATIONS	$	(7,732	)	$	(13,430	)	$	(16,111	)	$	(18,336	)

See accompanying notes to financial statements.

55  |

Statements of Operations (continued)

For the Six Months Ended July 31, 2018 (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
$	24,653		$	26,269		$	22,612		$	22,822		$	22,703		$	23,259
	7,626			5,354			2,933			2,339			2,274			2,285
	148			146			136			145			139			138
	(1,325	)		(1,395	)		(1,239	)		(1,272	)		(1,246	)		(1,264	)
	31,102			30,374			24,442			24,034			23,870			24,418
	16,969			17,167			14,519			14,511			14,473			14,692
	662			656			541			536			535			543
	8,121			8,120			8,113			8,112			8,112			8,114
	721			706			720			709			727			714
	18,101			18,101			18,101			18,101			18,101			18,101
	9,269			9,114			9,379			9,114			9,271			9,483
	3,311			3,289			2,726			2,667			2,688			2,732
	19,848			19,848			19,848			19,848			19,848			19,848
	2,125			2,024			1,649			1,557			1,632			1,595
	7,288			7,287			7,277			7,278			7,284			7,278
	86,415			86,312			82,873			82,433			82,671			83,100
	(78,316	)		(77,701	)		(75,483	)		(74,985	)		(75,238	)		(75,558	)
	8,099			8,611			7,390			7,448			7,433			7,542
	23,003			21,763			17,052			16,586			16,437			16,876
	58,731			66,086			57,034			53,778			56,987			57,266
	(201	)		(117	)		(89	)		(27	)		(91	)		(85	)
	(103,007	)		(113,773	)		(97,581	)		(93,628	)		(96,802	)		(98,491	)
	(3,334	)		(2,745	)		(1,375	)		(1,235	)		(1,130	)		(1,135	)
	(47,811	)		(50,549	)		(42,011	)		(41,112	)		(41,036	)		(42,445	)
$	(24,808	)	$	(28,786	)	$	(24,959	)	$	(24,526	)	$	(24,599	)	$	(25,569	)

See accompanying notes to financial statements.

|  56

Statements of Changes in Net Assets

	Natixis Sustainable Future 2015 Fund						Natixis Sustainable Future 2020 Fund						Natixis Sustainable Future 2025 Fund
	Six Months Ended July 31, 2018 (Unaudited)			Period Ended January 31, 2018(a)			Six Months Ended July 31, 2018 (Unaudited)			Period Ended January 31, 2018(a)			Six Months Ended July 31, 2018 (Unaudited)			Period Ended January 31, 2018(a)
FROM OPERATIONS:
Net investment income	$	42,898		$	58,305		$	40,961		$	55,318		$	29,447		$	38,634
Net realized gain on investments		51,610			74,341			59,361			77,053			54,900			52,228
Net change in unrealized appreciation (depreciation) on investments		(102,240	)		403,112			(113,752	)		484,809			(100,458	)		427,555
Net increase (decrease) in net assets resulting from operations		(7,732	)		535,758			(13,430	)		617,180			(16,111	)		518,417
FROM DISTRIBUTIONS TO SHAREHOLDERS:
Net investment income
Class N		—			(62,520	)		—			(59,200	)		—			(42,630	)
Net realized capital gains
Class N		(53,846	)		(20,200	)		(59,054	)		(17,800	)		(39,250	)		(12,780	)
Total distributions		(53,846	)		(82,720	)		(59,054	)		(77,000	)		(39,250	)		(55,410	)
NET INCREASE IN NET ASSETS FROM CAPITAL SHARE TRANSACTIONS (NOTE 7)		53,857			4,082,720			59,065			4,077,000			39,261			3,055,410
Net increase (decrease) in net assets		(7,721	)		4,535,758			(13,419	)		4,617,180			(16,100	)		3,518,417
NET ASSETS
Beginning of the period		4,535,758			—			4,617,180			—			3,518,417			—
End of the period	$	4,528,037		$	4,535,758		$	4,603,761		$	4,617,180		$	3,502,317		$	3,518,417
UNDISTRIBUTED (DISTRIBUTIONS IN EXCESS OF) NET INVESTMENT INCOME	$	39,667		$	(3,231	)	$	37,730		$	(3,231	)	$	26,221		$	(3,226	)

(a) From commencement of operations on February 28, 2017 through January 31, 2018.

See accompanying notes to financial statements.

57  |

Statements of Changes in Net Assets (continued)

	Natixis Sustainable Future 2030 Fund						Natixis Sustainable Future 2035 Fund						Natixis Sustainable Future 2040 Fund
	Six Months Ended July 31, 2018 (Unaudited)			Period Ended January 31, 2018(a)			Six Months Ended July 31, 2018 (Unaudited)			Period Ended January 31, 2018(a)			Six Months Ended July 31, 2018 (Unaudited)			Period Ended January 31, 2018(a)
FROM OPERATIONS:
Net investment income	$	23,875		$	30,498		$	23,003		$	28,487		$	21,763		$	26,463
Net realized gain on investments		56,866			35,174			58,530			34,253			65,969			38,230
Net change in unrealized appreciation (depreciation) on investments		(99,077	)		431,967			(106,341	)		489,824			(116,518	)		530,824
Net increase (decrease) in net assets resulting from operations		(18,336	)		497,639			(24,808	)		552,564			(28,786	)		595,517
FROM DISTRIBUTIONS TO SHAREHOLDERS:
Net investment income
Class N		—			(34,259	)		—			(32,132	)		—			(29,900	)
Net realized capital gains
Class N		(23,434	)		(11,791	)		(21,371	)		(12,980	)		(25,370	)		(13,075	)
Total distributions		(23,434	)		(46,050	)		(21,371	)		(45,112	)		(25,370	)		(42,975	)
NET INCREASE IN NET ASSETS FROM CAPITAL SHARE TRANSACTIONS (NOTE 7)		94,692			2,581,785			40,479			2,604,269			25,369			2,542,975
Net increase (decrease) in net assets		52,922			3,033,374			(5,700	)		3,111,721			(28,787	)		3,095,517
NET ASSETS
Beginning of the period		3,033,374			—			3,111,721			—			3,095,517			—
End of the period	$	3,086,296		$	3,033,374		$	3,106,021		$	3,111,721		$	3,066,730		$	3,095,517
UNDISTRIBUTED (DISTRIBUTIONS IN EXCESS OF) NET INVESTMENT INCOME	$	20,652		$	(3,223	)	$	19,780		$	(3,223	)	$	18,540		$	(3,223	)

(a) From commencement of operations on February 28, 2017 through January 31, 2018.

See accompanying notes to financial statements.

|  58

Statements of Changes in Net Assets (continued)

	Natixis Sustainable Future 2045 Fund						Natixis Sustainable Future 2050 Fund						Natixis Sustainable Future 2055 Fund
	Six Months Ended July 31, 2018 (Unaudited)			Period Ended January 31, 2018(a)			Six Months Ended July 31, 2018 (Unaudited)			Period Ended January 31, 2018(a)			Six Months Ended July 31, 2018 (Unaudited)			Period Ended January 31, 2018(a)
FROM OPERATIONS:
Net investment income	$	17,052		$	19,909		$	16,586		$	19,182		$	16,437		$	19,190
Net realized gain on investments		56,945			28,779			53,751			31,247			56,896			29,495
Net change in unrealized appreciation (depreciation) on investments		(98,956	)		454,106			(94,863	)		463,256			(97,932	)		464,975
Net increase (decrease) in net assets resulting from operations		(24,959	)		502,794			(24,526	)		513,685			(24,599	)		513,660
FROM DISTRIBUTIONS TO SHAREHOLDERS:
Net investment income
Class N		—			(23,674	)		—			(22,880	)		—			(22,901	)
Net realized capital gains
Class N		(17,016	)		(11,816	)		(19,304	)		(12,040	)		(17,374	)		(12,196	)
Total distributions		(17,016	)		(35,490	)		(19,304	)		(34,920	)		(17,374	)		(35,097	)
NET INCREASE IN NET ASSETS FROM CAPITAL SHARE TRANSACTIONS (NOTE 7)		21,539			2,100,990			73,900			2,034,920			60,337			2,055,253
Net increase (decrease) in net assets		(20,436	)		2,568,294			30,070			2,513,685			18,364			2,533,816
NET ASSETS
Beginning of the period		2,568,294			—			2,513,685			—			2,533,816			—
End of the period	$	2,547,858		$	2,568,294		$	2,543,755		$	2,513,685		$	2,552,180		$	2,533,816
UNDISTRIBUTED (DISTRIBUTIONS IN EXCESS OF) NET INVESTMENT INCOME	$	13,831		$	(3,221	)	$	13,365		$	(3,221	)	$	13,216		$	(3,221	)

(a) From commencement of operations on February 28, 2017 through January 31, 2018.

See accompanying notes to financial statements.

59  |

Statements of Changes in Net Assets (continued)

	Natixis Sustainable Future 2060 Fund
	Six Months Ended July 31, 2018 (Unaudited)			Period Ended January 31, 2018(a)
FROM OPERATIONS:
Net investment income	$	16,876		$	19,262
Net realized gain on investments		57,181			29,110
Net change in unrealized appreciation (depreciation) on investments		(99,626	)		467,765
Net increase (decrease) in net assets resulting from operations		(25,569	)		516,137
FROM DISTRIBUTIONS TO SHAREHOLDERS:
Net investment income
Class N		—			(23,001	)
Net realized capital gains
Class N		(17,158	)		(12,015	)
Total distributions		(17,158	)		(35,016	)
NET INCREASE IN NET ASSETS FROM CAPITAL SHARE TRANSACTIONS (NOTE 7)		30,022			2,094,288
Net increase (decrease) in net assets		(12,705	)		2,575,409
NET ASSETS
Beginning of the period		2,575,409			—
End of the period	$	2,562,704		$	2,575,409
UNDISTRIBUTED (DISTRIBUTIONS IN EXCESS OF) NET INVESTMENT INCOME	$	13,655		$	(3,221	)

(a) From commencement of operations on February 28, 2017 through January 31, 2018.

See accompanying notes to financial statements.

|  60

Financial Highlights

For a share outstanding throughout each period.

	Sustainable Future 2015 Fund—Class N
	Six Months Ended July 31, 2018 (Unaudited)			Period Ended January 31, 2018*
Net asset value, beginning of the period	$	11.13		$	10.00
INCOME (LOSS) FROM INVESTMENT OPERATIONS:
Net investment income(a)		0.10			0.15
Net realized and unrealized gain (loss)		(0.13	)		1.19
Total from Investment Operations		(0.03	)		1.34
LESS DISTRIBUTIONS FROM:
Net investment income		—			(0.16	)
Net realized capital gains		(0.13	)		(0.05	)
Total Distributions		(0.13	)		(0.21	)
Net asset value, end of the period	$	10.97		$	11.13
Total return(b)(c)		(0.23	)%		13.42	%
RATIOS TO AVERAGE NET ASSETS:
Net assets, end of the period (000’s)	$	4,528		$	4,536
Net expenses(d)(e)		0.36	%(f)		0.38	%(g)
Gross expenses(d)		4.26	%(f)		3.57	%(g)
Net investment income(d)		1.94	%		1.49	%
Portfolio turnover rate		6	%		15	%

* From commencement of operations on February 28, 2017 through January 31, 2018.

(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 4.55%, respectively.

(g) 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 3.84%, respectively.

See accompanying notes to financial statements.

61  |

Financial Highlights (continued)

For a share outstanding throughout each period.

	Sustainable Future 2020 Fund—Class N
	Six Months Ended July 31, 2018 (Unaudited)			Period Ended January 31, 2018*
Net asset value, beginning of the period	$	11.34		$	10.00
INCOME (LOSS) FROM INVESTMENT OPERATIONS:
Net investment income(a)		0.10			0.14
Net realized and unrealized gain (loss)		(0.13	)		1.39
Total from Investment Operations		(0.03	)		1.53
LESS DISTRIBUTIONS FROM:
Net investment income		—			(0.15	)
Net realized capital gains		(0.15	)		(0.04	)
Total Distributions		(0.15	)		(0.19	)
Net asset value, end of the period	$	11.16		$	11.34
Total return(b)(c)		(0.28	)%		15.38	%
RATIOS TO AVERAGE NET ASSETS:
Net assets, end of the period (000’s)	$	4,604		$	4,617
Net expenses(d)(e)		0.39	%(f)		0.41	%(g)
Gross expenses(d)		4.25	%(f)		3.58	%(g)
Net investment income(d)		1.83	%		1.40	%
Portfolio turnover rate		6	%		15	%

* From commencement of operations on February 28, 2017 through January 31, 2018.

(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 4.51%, respectively.

(g) 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 3.82%, respectively.

See accompanying notes to financial statements.

|  62

Financial Highlights (continued)

For a share outstanding throughout each period.

	Sustainable Future 2025 Fund—Class N
	Six Months Ended July 31, 2018 (Unaudited)			Period Ended January 31, 2018*
Net asset value, beginning of the period	$	11.54		$	10.00
INCOME (LOSS) FROM INVESTMENT OPERATIONS:
Net investment income(a)		0.10			0.13
Net realized and unrealized gain (loss)		(0.16	)		1.59
Total from Investment Operations		(0.06	)		1.72
LESS DISTRIBUTIONS FROM:
Net investment income		—			(0.14	)
Net realized capital gains		(0.13	)		(0.04	)
Total Distributions		(0.13	)		(0.18	)
Net asset value, end of the period	$	11.35		$	11.54
Total return(b)(c)		(0.50	)%		17.31	%
RATIOS TO AVERAGE NET ASSETS:
Net assets, end of the period (000’s)	$	3,502		$	3,518
Net expenses(d)(e)		0.44	%(f)		0.45	%(g)
Gross expenses(d)		5.17	%(f)		4.41	%(g)
Net investment income(d)		1.73	%		1.30	%
Portfolio turnover rate		7	%		16	%

* From commencement of operations on February 28, 2017 through January 31, 2018.

(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 5.38%, respectively.

(g) 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 4.61%, respectively.

See accompanying notes to financial statements.

63  |

Financial Highlights (continued)

For a share outstanding throughout each period.

	Sustainable Future 2030 Fund—Class N
	Six Months Ended July 31, 2018 (Unaudited)			Period Ended January 31, 2018*
Net asset value, beginning of the period	$	11.79		$	10.00
INCOME (LOSS) FROM INVESTMENT OPERATIONS:
Net investment income(a)		0.09			0.12
Net realized and unrealized gain (loss)		(0.17	)		1.86
Total from Investment Operations		(0.08	)		1.98
LESS DISTRIBUTIONS FROM:
Net investment income		—			(0.14	)
Net realized capital gains		(0.09	)		(0.05	)
Total Distributions		(0.09	)		(0.19	)
Net asset value, end of the period	$	11.62		$	11.79
Total return(b)(c)		(0.65	)%		19.79	%
RATIOS TO AVERAGE NET ASSETS:
Net assets, end of the period (000’s)	$	3,086		$	3,033
Net expenses(d)(e)		0.50	%(f)		0.50	%(g)
Gross expenses(d)		5.80	%(f)		5.04	%(g)
Net investment income(d)		1.62	%		1.22	%
Portfolio turnover rate		9	%		15	%

* From commencement of operations on February 28, 2017 through January 31, 2018.

(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 5.95%, respectively.

(g) 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 5.19%, respectively.

See accompanying notes to financial statements.

|  64

Financial Highlights (continued)

For a share outstanding throughout each period.

	Sustainable Future 2035 Fund—Class N
	Six Months Ended July 31, 2018 (Unaudited)			Period Ended January 31, 2018*
Net asset value, beginning of the period	$	12.01		$	10.00
INCOME (LOSS) FROM INVESTMENT OPERATIONS:
Net investment income(a)		0.09			0.11
Net realized and unrealized gain (loss)		(0.19	)		2.08
Total from Investment Operations		(0.10	)		2.19
LESS DISTRIBUTIONS FROM:
Net investment income		—			(0.13	)
Net realized capital gains		(0.08	)		(0.05	)
Total Distributions		(0.08	)		(0.18	)
Net asset value, end of the period	$	11.83		$	12.01
Total return(b)(c)		(0.79	)%		21.95	%
RATIOS TO AVERAGE NET ASSETS:
Net assets, end of the period (000’s)	$	3,106		$	3,112
Net expenses(d)(e)		0.54	%(f)		0.55	%(g)
Gross expenses(d)		5.76	%(f)		5.03	%(g)
Net investment income(d)		1.53	%		1.13	%
Portfolio turnover rate		9	%		14	%

* From commencement of operations on February 28, 2017 through January 31, 2018.

(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 5.87%, respectively.

(g) 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 5.13%, respectively.

See accompanying notes to financial statements.

65  |

Financial Highlights (continued)

For a share outstanding throughout each period.

	Sustainable Future 2040 Fund—Class N
	Six Months Ended July 31, 2018 (Unaudited)			Period Ended January 31, 2018*
Net asset value, beginning of the period	$	12.20		$	10.00
INCOME (LOSS) FROM INVESTMENT OPERATIONS:
Net investment income(a)		0.09			0.11
Net realized and unrealized gain (loss)		(0.21	)		2.26
Total from Investment Operations		(0.12	)		2.37
LESS DISTRIBUTIONS FROM:
Net investment income		—			(0.12	)
Net realized capital gains		(0.10	)		(0.05	)
Total Distributions		(0.10	)		(0.17	)
Net asset value, end of the period	$	11.98		$	12.20
Total return(b)(c)		(0.95	)%		23.80	%
RATIOS TO AVERAGE NET ASSETS:
Net assets, end of the period (000’s)	$	3,067		$	3,096
Net expenses(d)(e)		0.58	%(f)		0.59	%(g)
Gross expenses(d)		5.81	%(f)		5.04	%(g)
Net investment income(d)		1.47	%		1.04	%
Portfolio turnover rate		9	%		15	%

* From commencement of operations on February 28, 2017 through January 31, 2018.

(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 5.88%, respectively.

(g) 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 5.10%, respectively.

See accompanying notes to financial statements.

|  66

Financial Highlights (continued)

For a share outstanding throughout each period.

	Sustainable Future 2045 Fund—Class N
	Six Months Ended July 31, 2018 (Unaudited)			Period Ended January 31, 2018*
Net asset value, beginning of the period	$	12.31		$	10.00
INCOME (LOSS) FROM INVESTMENT OPERATIONS:
Net investment income(a)		0.08			0.10
Net realized and unrealized gain (loss)		(0.20	)		2.39
Total from Investment Operations		(0.12	)		2.49
LESS DISTRIBUTIONS FROM:
Net investment income		—			(0.12	)
Net realized capital gains		(0.08	)		(0.06	)
Total Distributions		(0.08	)		(0.18	)
Net asset value, end of the period	$	12.11		$	12.31
Total return(b)(c)		(0.94	)%		24.92	%
RATIOS TO AVERAGE NET ASSETS:
Net assets, end of the period (000’s)	$	2,548		$	2,568
Net expenses(d)(e)		0.60	%(f)		0.61	%(g)
Gross expenses(d)		6.73	%(f)		5.97	%(g)
Net investment income(d)		1.38	%		0.97	%
Portfolio turnover rate		10	%		17	%

* From commencement of operations on February 28, 2017 through January 31, 2018.

(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 6.78%, respectively.

(g) 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 6.01%, respectively.

See accompanying notes to financial statements.

67  |

Financial Highlights (continued)

For a share outstanding throughout each period.

	Sustainable Future 2050 Fund—Class N
	Six Months Ended July 31, 2018 (Unaudited)			Period Ended January 31, 2018*
Net asset value, beginning of the period	$	12.38		$	10.00
INCOME (LOSS) FROM INVESTMENT OPERATIONS:
Net investment income(a)		0.08			0.10
Net realized and unrealized gain (loss)		(0.22	)		2.45
Total from Investment Operations		(0.14	)		2.55
LESS DISTRIBUTIONS FROM:
Net investment income		—			(0.11	)
Net realized capital gains		(0.09	)		(0.06	)
Total Distributions		(0.09	)		(0.17	)
Net asset value, end of the period	$	12.15		$	12.38
Total return(b)(c)		(1.08	)%		25.64	%
RATIOS TO AVERAGE NET ASSETS:
Net assets, end of the period (000’s)	$	2,544		$	2,514
Net expenses(d)(e)		0.61	%(f)		0.62	%(g)
Gross expenses(d)		6.75	%(f)		6.00	%(g)
Net investment income(d)		1.36	%		0.94	%
Portfolio turnover rate		10	%		18	%

* From commencement of operations on February 28, 2017 through January 31, 2018.

(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 6.79%, respectively.

(g) 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 6.03%, respectively.

See accompanying notes to financial statements.

|  68

Financial Highlights (continued)

For a share outstanding throughout each period.

	Sustainable Future 2055 Fund—Class N
	Six Months Ended July 31, 2018 (Unaudited)			Period Ended January 31, 2018*
Net asset value, beginning of the period	$	12.38		$	10.00
INCOME (LOSS) FROM INVESTMENT OPERATIONS:
Net investment income(a)		0.08			0.10
Net realized and unrealized gain (loss)		(0.21	)		2.45
Total from Investment Operations		(0.13	)		2.55
LESS DISTRIBUTIONS FROM:
Net investment income		—			(0.11	)
Net realized capital gains		(0.08	)		(0.06	)
Total Distributions		(0.08	)		(0.17	)
Net asset value, end of the period	$	12.17		$	12.38
Total return(b)(c)		(0.99	)%		25.64	%
RATIOS TO AVERAGE NET ASSETS:
Net assets, end of the period (000’s)	$	2,552		$	2,534
Net expenses(d)(e)		0.61	%(f)		0.62	%(g)
Gross expenses(d)		6.79	%(f)		5.98	%(g)
Net investment income(d)		1.35	%		0.94	%
Portfolio turnover rate		10	%		18	%

* From commencement of operations on February 28, 2017 through January 31, 2018.

(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 6.83%, respectively.

(g) 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 6.01%, respectively.

See accompanying notes to financial statements.

69  |

Financial Highlights (continued)

For a share outstanding throughout each period.

	Sustainable Future 2060 Fund—Class N
	Six Months Ended July 31, 2018 (Unaudited)			Period Ended January 31, 2018*
Net asset value, beginning of the period	$	12.38		$	10.00
INCOME (LOSS) FROM INVESTMENT OPERATIONS:
Net investment income(a)		0.08			0.10
Net realized and unrealized gain (loss)		(0.21	)		2.45
Total from Investment Operations		(0.13	)		2.55
LESS DISTRIBUTIONS FROM:
Net investment income		—			(0.11	)
Net realized capital gains		(0.08	)		(0.06	)
Total Distributions		(0.08	)		(0.17	)
Net asset value, end of the period	$	12.17		$	12.38
Total return(b)(c)		(1.01	)%		25.59	%
RATIOS TO AVERAGE NET ASSETS:
Net assets, end of the period (000’s)	$	2,563		$	2,575
Net expenses(d)(e)		0.61	%(f)		0.62	%(g)
Gross expenses(d)		6.72	%(f)		5.97	%(g)
Net investment income(d)		1.37	%		0.94	%
Portfolio turnover rate		10	%		17	%

* From commencement of operations on February 28, 2017 through January 31, 2018.

(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 6.76%, respectively.

(g) 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 6.00%, respectively.

See accompanying notes to financial statements.

|  70

Notes to Financial Statements

July 31, 2018 (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 offers Class N shares.

Class N shares do not pay a front-end sales charge, a contingent deferred sales charge (“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 and Gateway Trust (“Natixis Funds Trusts”), Loomis Sayles Funds I and Loomis Sayles Funds II (“Loomis Sayles Funds Trusts”) and Natixis ETF Trust.

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 or 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 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 pursuant to procedures approved by the Board of Trustees. The Funds may also value securities and other

71  |

Notes to Financial Statements (continued)

July 31, 2018 (Unaudited)

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. 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, 2018 and has concluded that no provisions for income tax are required. The Funds’ federal tax returns for the prior year 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 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

|  72

Notes to Financial Statements (continued)

July 31, 2018 (Unaudited)

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 differences are primarily due to differing treatments for book and tax purposes of items such as distribution re-designations, non-deductible expenses and return of capital and capital gain distributions received. 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. Temporary differences between book and tax distributable earnings are primarily due to deferred Trustees’ fees, wash sales and return of capital distributions received. 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.

The tax characterization of distributions is determined on an annual basis. The tax character of distributions paid to shareholders during the period ended January 31, 2018 were as follows:

	2018 Distributions Paid From:
Fund	Ordinary Income		Long-Term Capital Gains		Total
Sustainable Future 2015 Fund	$	82,520	$	200	$	82,720
Sustainable Future 2020 Fund		76,766		234		77,000
Sustainable Future 2025 Fund		55,230		180		55,410
Sustainable Future 2030 Fund		45,873		177		46,050
Sustainable Future 2035 Fund		44,916		196		45,112
Sustainable Future 2040 Fund		42,750		225		42,975
Sustainable Future 2045 Fund		35,305		185		35,490
Sustainable Future 2050 Fund		34,740		180		34,920
Sustainable Future 2055 Fund		34,916		181		35,097
Sustainable Future 2060 Fund		34,831		185		35,016

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

As of July 31, 2018, the cost of investments and unrealized appreciation (depreciation) on a federal tax basis were as follows:

	Sustainable Future 2015 Fund			Sustainable Future 2020 Fund			Sustainable Future 2025 Fund			Sustainable Future 2030 Fund			Sustainable Future 2035 Fund
Federal tax cost	$	4,087,066		$	4,076,117		$	3,053,510		$	2,621,491		$	2,591,828
Gross tax appreciation	$	394,314		$	464,917		$	401,017		$	398,845		$	454,240
Gross tax depreciation		(93,442	)		(93,860	)		(73,920	)		(65,955	)		(70,757	)
Net tax appreciation	$	300,872		$	371,057		$	327,097		$	332,890		$	383,483
	Sustainable Future 2040 Fund			Sustainable Future 2045 Fund			Sustainable Future 2050 Fund			Sustainable Future 2055 Fund			Sustainable Future 2060 Fund
Federal tax cost	$	2,521,459		$	2,080,768		$	2,051,383		$	2,060,964		$	2,078,451
Gross tax appreciation	$	484,656		$	414,554		$	426,648		$	425,144		$	427,974
Gross tax depreciation		(70,350	)		(59,404	)		(58,255	)		(58,101	)		(59,835	)
Net tax appreciation	$	414,306		$	355,150		$	368,393		$	367,043		$	368,139

73  |

Notes to Financial Statements (continued)

July 31, 2018 (Unaudited)

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.

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.

The following is a summary of the inputs used to value the Funds’ investments as of July 31, 2018, at value:

Sustainable Future 2015 Fund

Asset Valuation Inputs

Description	Level 1		Level 2		Level 3		Total
Common Stocks(a)	$	2,071,111	$	—	$	—	$	2,071,111
Affiliated Mutual Funds		2,316,827		—		—		2,316,827
Total	$	4,387,938	$	—	$	—	$	4,387,938

(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, 2018, 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)	$	2,419,677	$	—	$	—	$	2,419,677
Affiliated Mutual Funds		2,027,497		—		—		2,027,497
Total	$	4,447,174	$	—	$	—	$	4,447,174

(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, 2018, 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)	$	2,100,096	$	—	$	—	$	2,100,096
Affiliated Mutual Funds		1,280,511		—		—		1,280,511
Total	$	3,380,607	$	—	$	—	$	3,380,607

(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, 2018, there were no transfers among Levels 1, 2 and 3.

|  74

Notes to Financial Statements (continued)

July 31, 2018 (Unaudited)

Sustainable Future 2030 Fund

Asset Valuation Inputs

Description	Level 1		Level 2		Level 3		Total
Common Stocks(a)	$	2,130,883	$	—	$	—	$	2,130,883
Affiliated Mutual Funds		823,498		—		—		823,498
Total	$	2,954,381	$	—	$	—	$	2,954,381

(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, 2018, there were no transfers among Levels 1, 2 and 3.

Sustainable Future 2035 Fund

Asset Valuation Inputs

Description	Level 1		Level 2		Level 3		Total
Common Stocks(a)	$	2,399,696	$	—	$	—	$	2,399,696
Affiliated Mutual Funds		575,615		—		—		575,615
Total	$	2,975,311	$	—	$	—	$	2,975,311

(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, 2018, 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)	$	2,546,190	$	—	$	—	$	2,546,190
Affiliated Mutual Funds		389,575		—		—		389,575
Total	$	2,935,765	$	—	$	—	$	2,935,765

(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, 2018, 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)	$	2,216,695	$	—	$	—	$	2,216,695
Affiliated Mutual Funds		219,223		—		—		219,223
Total	$	2,435,918	$	—	$	—	$	2,435,918

(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, 2018, 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)	$	2,238,218	$	—	$	—	$	2,238,218
Affiliated Mutual Funds		181,558		—		—		181,558
Total	$	2,419,776	$	—	$	—	$	2,419,776

(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, 2018, there were no transfers among Levels 1, 2 and 3.

75  |

Notes to Financial Statements (continued)

July 31, 2018 (Unaudited)

Sustainable Future 2055 Fund

Asset Valuation Inputs

Description	Level 1		Level 2		Level 3		Total
Common Stocks(a)	$	2,261,003	$	—	$	—	$	2,261,003
Affiliated Mutual Funds		167,004		—		—		167,004
Total	$	2,428,007	$	—	$	—	$	2,428,007

(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, 2018, 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)	$	2,281,634	$	—	$	—	$	2,281,634
Affiliated Mutual Funds		164,956		—		—		164,956
Total	$	2,446,590	$	—	$	—	$	2,446,590

(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, 2018, there were no transfers among Levels 1, 2 and 3.

4.  Purchases and Sales of Securities.  For the six months ended July 31, 2018, purchases and sales of securities (excluding short-term investments and U.S. Government/Agency securities and including paydowns) were as follows:

Fund	Purchases		Sales
Sustainable Future 2015 Fund	$	246,815	$	254,882
Sustainable Future 2020 Fund		270,554		288,854
Sustainable Future 2025 Fund		232,761		254,400
Sustainable Future 2030 Fund		279,524		254,009
Sustainable Future 2035 Fund		268,190		269,000
Sustainable Future 2040 Fund		264,133		300,273
Sustainable Future 2045 Fund		237,995		251,768
Sustainable Future 2050 Fund		240,844		232,604
Sustainable Future 2055 Fund		262,158		246,590
Sustainable Future 2060 Fund		242,458		251,697

5.  Management Fees and Other Transactions with Affiliates.

a.  Management Fees.  Natixis Advisors, L.P. (“Natixis Advisors”), serves as investment adviser to each Fund through its Active Index Advisers (“AIA”) Division. Natixis Advisors is a wholly-owned subsidiary of Natixis Investment Managers, L.P. (“Natixis”), which is part of Natixis Investment Managers, 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.

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

Natixis 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, payable to Natixis Advisors as adviser; (ii) 0.50% of the average daily net assets of the Mirova Global Sustainable Equity Segment; (iii) 0.25% of the average daily net assets of the Mirova Carbon Neutral U.S. Equity Segment, each payable to Ostrum US as sub-adviser; and (iv) the greater of an asset based fee calculated by multiplying the Fund’s average daily net assets 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

|  76

Notes to Financial Statements (continued)

July 31, 2018 (Unaudited)

$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 Natixis Advisors are reduced by the amount of payments to the subadvisers.

Natixis 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, 2019, 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 six months ended July 31, 2018, 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.

Natixis 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 six months ended July 31, 2018, 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	$	21,974	$	280	$	21,694		0.99	%		0.98	%
Sustainable Future 2020 Fund		23,019		320		22,699		1.03	%		1.01	%
Sustainable Future 2025 Fund		18,127		267		17,860		1.06	%		1.05	%
Sustainable Future 2030 Fund		16,182		280		15,902		1.10	%		1.08	%
Sustainable Future 2035 Fund		16,969		331		16,638		1.13	%		1.11	%
Sustainable Future 2040 Fund		17,167		349		16,818		1.16	%		1.13	%
Sustainable Future 2045 Fund		14,519		269		14,250		1.18	%		1.16	%
Sustainable Future 2050 Fund		14,511		277		14,234		1.19	%		1.17	%
Sustainable Future 2055 Fund		14,473		272		14,201		1.19	%		1.17	%
Sustainable Future 2060 Fund		14,692		273		14,419		1.19	%		1.17	%

¹  Management fee waivers are subject to possible recovery until January 31, 2019.

For the six months ended July 31, 2018, expenses have been reimbursed as follows:

Fund	Reimbursement2
Sustainable Future 2015 Fund	$	85,928
Sustainable Future 2020 Fund		86,369
Sustainable Future 2025 Fund		80,436
Sustainable Future 2030 Fund		77,634
Sustainable Future 2035 Fund		77,985
Sustainable Future 2040 Fund		77,352
Sustainable Future 2045 Fund		75,214
Sustainable Future 2050 Fund		74,708
Sustainable Future 2055 Fund		74,966
Sustainable Future 2060 Fund		75,285

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

No expenses were recovered during the six months ended July 31, 2018 under the terms of the expense limitation agreement.

77  |

Notes to Financial Statements (continued)

July 31, 2018 (Unaudited)

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

c.  Administrative Fees.  Natixis Advisors provides certain administrative services for the Funds and contracts with State Street Bank and Trust Company (“State Street Bank”) to serve as sub-administrator. Pursuant to an agreement among Natixis Funds Trusts, Loomis Sayles Funds Trusts, Natixis ETF Trust and Natixis Advisors, each Fund pays Natixis 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, Loomis Sayles Funds Trusts and Natixis ETF Trust, 0.0500% of the next $15 billion, 0.0400% of the next $30 billion, 0.0275% of the next $30 billion and 0.0225% of such assets in excess of $90 billion, subject to an annual aggregate minimum fee for the Natixis Funds Trusts, Loomis Sayles Funds Trusts and Natixis ETF Trust of $10 million, which is reevaluated on an annual basis.

Prior to July 1, 2018, each Fund paid Natixis 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, Loomis Sayles Funds Trusts and Natixis ETF Trust, 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, Loomis Sayles Funds Trusts and Natixis ETF Trust of $10 million, which was reevaluated on an annual basis.

For the six months ended July 31, 2018, the administrative fees for each Fund were as follows:

Fund	Administrative Fees
Sustainable Future 2015 Fund	$	971
Sustainable Future 2020 Fund		991
Sustainable Future 2025 Fund		753
Sustainable Future 2030 Fund		646
Sustainable Future 2035 Fund		662
Sustainable Future 2040 Fund		656
Sustainable Future 2045 Fund		541
Sustainable Future 2050 Fund		536
Sustainable Future 2055 Fund		535
Sustainable Future 2060 Fund		543

d.  Trustees Fees and Expenses.  The Trust does not pay any compensation directly to its officers or Trustees who are directors, officers or employees of Natixis Advisors, Natixis Distribution, Natixis or their affiliates. The Chairperson of the Board of Trustees receives a retainer fee at the annual rate of $340,000. The Chairperson does not receive any meeting attendance fees for Board of Trustees meetings or committee meetings that he attends. Each Independent Trustee (other than the Chairperson) receives, in the aggregate, a retainer fee at the annual rate of $170,000. 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 $20,000. The chairperson of the Governance Committee receives an additional retainer fee at the annual rate of $12,000. 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, Loomis Sayles Funds Trusts and Natixis ETF Trust 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, Loomis Sayles Funds Trusts and Natixis ETF Trust 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, Loomis Sayles Funds Trusts and Natixis ETF Trust, 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.

|  78

Notes to Financial Statements (continued)

July 31, 2018 (Unaudited)

e.  Affiliated Ownership.  As of July 31, 2018, the percentage of each Fund’s net assets owned by Natixis and affiliates is as follows:

	Percentage of Net Assets
Sustainable Future 2015 Fund		100.0	%
Sustainable Future 2020 Fund		100.0	%
Sustainable Future 2025 Fund		100.0	%
Sustainable Future 2030 Fund		96.4	%
Sustainable Future 2035 Fund		97.4	%
Sustainable Future 2040 Fund		100.0	%
Sustainable Future 2045 Fund		97.1	%
Sustainable Future 2050 Fund		97.7	%
Sustainable Future 2055 Fund		97.5	%
Sustainable Future 2060 Fund		97.0	%

Investment activities of affiliated shareholders could have material impacts on the Funds.

f.  Affiliated Fund Transactions.  A summary of affiliated fund transactions for each underlying fund held by the Funds for the six months ended July 31, 2018, 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	$	499,647	$	13,444	$	6,002	$	(98	)	$	(7,612	)	$	499,379	$	8,192
Loomis Sayles Limited Term Government and Agency Fund, Class N		547,188		6,291		5,131		(87	)		(3,809	)		544,452		6,120
Mirova Global Green Bond Fund, Class N		1,268,715		22,926		16,100		(244	)		(2,301	)		1,272,996		16,210
	$	2,315,550	$	42,661	$	27,233	$	(429	)	$	(13,722	)	$	2,316,827	$	30,522

⁽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	$	276,604	$	7,824	$	3,772	$	(56	)	$	(4,209	)	$	276,391	$	4,538
Loomis Sayles Limited Term Government and Agency Fund, Class N		508,960		6,348		5,431		(91	)		(3,533	)		506,253		5,691
Mirova Global Green Bond Fund, Class N		1,241,390		22,971		17,014		(259	)		(2,235	)		1,244,853		15,866
	$	2,026,954	$	37,143	$	26,217	$	(406	)	$	(9,977	)	$	2,027,497	$	26,095
	��

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

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

79  |

Notes to Financial Statements (continued)

July 31, 2018 (Unaudited)

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	$	177,609	$	6,228	$	3,474	$	(54	)	$	(2,687	)	$	177,622	$	2,919
Loomis Sayles Limited Term Government and Agency Fund, Class N		320,923		5,982		4,575		(77	)		(2,211	)		320,042		3,591
Mirova Global Green Bond Fund, Class N		779,566		17,460		12,608		(192	)		(1,379	)		782,847		9,981
	$	1,278,098	$	29,670	$	20,657	$	(323	)	$	(6,277	)	$	1,280,511	$	16,491

⁽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 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	$	154,804	$	9,186	$	3,843	$	(61	)	$	(2,349	)	$	157,737	$	2,543
Loomis Sayles Limited Term Government and Agency Fund, Class N		185,965		9,268		3,519		(59	)		(1,283	)		190,372		2,095
Mirova Global Green Bond Fund, Class N		462,498		23,156		9,322		(141	)		(802	)		475,389		5,945
	$	803,267	$	41,610	$	16,684	$	(261	)	$	(4,434	)	$	823,498	$	10,583

⁽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	$	127,462	$	5,360	$	3,313	$	(52	)	$	(1,920	)	$	127,537	$	2,098
Loomis Sayles Limited Term Government and Agency Fund, Class N		127,580		3,950		2,604		(44	)		(870	)		128,012		1,436
Mirova Global Green Bond Fund, Class N		317,400		10,228		6,913		(105	)		(544	)		320,066		4,092
	$	572,442	$	19,538	$	12,830	$	(201	)	$	(3,334	)	$	575,615	$	7,626

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

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

|  80

Notes to Financial Statements (continued)

July 31, 2018 (Unaudited)

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	$	128,974	$	5,444	$	2,735	$	(45	)	$	(1,958	)	$	129,680	$	2,132
Loomis Sayles Limited Term Government and Agency Fund, Class N		64,759		1,685		1,045		(17	)		(448	)		64,934		732
Mirova Global Green Bond Fund, Class N		193,027		5,910		3,582		(55	)		(339	)		194,961		2,490
	$	386,760	$	13,039	$	7,362	$	(117	)	$	(2,745	)	$	389,575	$	5,354

⁽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	$	54,414	$	2,771	$	1,628	$	(26	)	$	(820	)	$	54,711	$	902
Loomis Sayles Limited Term Government and Agency Fund, Class N		54,464		2,036		1,292		(22	)		(371	)		54,815		621
Mirova Global Green Bond Fund, Class N		108,379		4,244		2,701		(41	)		(184	)		109,697		1,410
	$	217,257	$	9,051	$	5,621	$	(89	)	$	(1,375	)	$	219,223	$	2,933

⁽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 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	$	55,424	$	6,525	$	678	$	(11	)	$	(882	)	$	60,378	$	963
Loomis Sayles Limited Term Government and Agency Fund, Class N		27,829		2,942		213		(5	)		(206	)		30,347		280
Mirova Global Green Bond Fund, Class N		82,949		8,831		789		(11	)		(147	)		90,833		1,096
	$	166,202	$	18,298	$	1,680	$	(27	)	$	(1,235	)	$	181,558	$	2,339

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

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

81  |

Notes to Financial Statements (continued)

July 31, 2018 (Unaudited)

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	$	54,314	$	4,305	$	2,160	$	(34	)	$	(813	)	$	55,612	$	902
Loomis Sayles Limited Term Government and Agency Fund, Class N		27,190		1,822		917		(16	)		(182	)		27,897		310
Mirova Global Green Bond Fund, Class N		81,143		5,259		2,731		(41	)		(135	)		83,495		1,062
	$	162,647	$	11,386	$	5,808	$	(91	)	$	(1,130	)	$	167,004	$	2,274

⁽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	$	54,760	$	2,981	$	2,013	$	(34	)	$	(817	)	$	54,877	$	907
Loomis Sayles Limited Term Government and Agency Fund, Class N		27,413		1,164		845		(14	)		(184	)		27,534		312
Mirova Global Green Bond Fund, Class N		81,809		3,434		2,527		(37	)		(134	)		82,545		1,066
	$	163,982	$	7,579	$	5,385	$	(85	)	$	(1,135	)	$	164,956	$	2,285

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

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

Financial statements of Loomis Sayles Inflation Protected Securities Fund, Loomis Sayles Limited Term Government and Agency Fund and Mirova Global Green Bond Fund are available, without charge, on the Funds’ website at im.natixis.com.

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 reflected in the valuation of the underlying funds.

6.  Line of Credit.  Effective April 12, 2018, each Fund, together with certain other funds of Natixis Funds Trusts, Loomis Sayles Funds Trusts and Natixis ETF Trust, entered into a $400,000,000 committed unsecured line of credit provided by State Street Bank. Any one Fund may borrow up to $350,000,000 under the line of credit agreement (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 and its contractual obligations under the line of credit. Interest is charged to the Funds based upon the terms set forth in the agreement. In addition, a commitment fee of 0.15% per annum, payable at the end of each calendar quarter, 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.

Prior to April 12, 2018, 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 was able borrow up to the full $400,000,000 under the line of credit (as long as all borrowings by all Funds in the aggregate did not exceed the $400,000,000 limit at any time), subject to each Fund’s investment restrictions and its contractual obligations under the line of credit. Interest was 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, was accrued and apportioned among the participating funds based on their average daily unused portion of the line of credit.

For the six months ended July 31, 2018, none of the Funds had borrowings under these agreements.

|  82

Notes to Financial Statements (continued)

July 31, 2018 (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

	Six Months Ended July 31, 2018						Period Ended January 31, 2018(a)
	Shares			Amount			Shares		Amount
Class N
Issued from the sale of shares		2		$	23			400,000	$	4,000,000
Issued in connection with the reinvestment of distributions		5,009			53,846			7,617		82,720
Redeemed		(1	)		(12	)		—		—
Net change		5,010		$	53,857			407,617	$	4,082,720
Increase (decrease) from capital share transactions		5,010		$	53,857			407,617	$	4,082,720

(a) From commencement of operations on February 28, 2017 through January 31, 2018.

Sustainable Future 2020 Fund

	Six Months Ended July 31, 2018						Period Ended January 31, 2018(a)
	Shares			Amount			Shares		Amount
Class N
Issued from the sale of shares		2		$	23			400,000	$	4,000,000
Issued in connection with the reinvestment of distributions		5,418			59,054			6,987		77,000
Redeemed		(1	)		(12	)		—		—
Net change		5,419		$	59,065			406,987	$	4,077,000
Increase (decrease) from capital share transactions		5,419		$	59,065			406,987	$	4,077,000

(a) From commencement of operations on February 28, 2017 through January 31, 2018.

Sustainable Future 2025 Fund

	Six Months Ended July 31, 2018						Period Ended January 31, 2018(a)
	Shares			Amount			Shares		Amount
Class N
Issued from the sale of shares		2		$	23			300,000	$	3,000,000
Issued in connection with the reinvestment of distributions		3,548			39,250			4,970		55,410
Redeemed		(1	)		(12	)		—		—
Net change		3,549		$	39,261			304,970	$	3,055,410
Increase (decrease) from capital share transactions		3,549		$	39,261			304,970	$	3,055,410

(a) From commencement of operations on February 28, 2017 through January 31, 2018.

Sustainable Future 2030 Fund

	Six Months Ended July 31, 2018						Period Ended January 31, 2018(a)
	Shares			Amount			Shares		Amount
Class N
Issued from the sale of shares		6,256		$	71,332			253,127	$	2,535,735
Issued in connection with the reinvestment of distributions		2,077			23,434			4,065		46,050
Redeemed		(6	)		(74	)		—		—
Net change		8,327		$	94,692			257,192	$	2,581,785
Increase (decrease) from capital share transactions		8,327		$	94,692			257,192	$	2,581,785

(a) From commencement of operations on February 28, 2017 through January 31, 2018.

83  |

Notes to Financial Statements (continued)

July 31, 2018 (Unaudited)

7.  Capital Shares (continued).

Sustainable Future 2035 Fund

	Six Months Ended July 31, 2018						Period Ended January 31, 2018(a)
	Shares			Amount			Shares		Amount
Class N
Issued from the sale of shares		1,828		$	21,159			255,121	$	2,559,157
Issued in connection with the reinvestment of distributions		1,866			21,371			3,926		45,112
Redeemed		(175	)		(2,051	)		—		—
Net change		3,519		$	40,479			259,047	$	2,604,269
Increase (decrease) from capital share transactions		3,519		$	40,479			259,047	$	2,604,269

(a) From commencement of operations on February 28, 2017 through January 31, 2018.

Sustainable Future 2040 Fund

	Six Months Ended July 31, 2018						Period Ended January 31, 2018(a)
	Shares			Amount			Shares		Amount
Class N
Issued from the sale of shares		1		$	12			250,000	$	2,500,000
Issued in connection with the reinvestment of distributions		2,193			25,370			3,698		42,975
Redeemed		(1	)		(13	)		—		—
Net change		2,193		$	25,369			253,698	$	2,542,975
Increase (decrease) from capital share transactions		2,193		$	25,369			253,698	$	2,542,975

(a) From commencement of operations on February 28, 2017 through January 31, 2018.

Sustainable Future 2045 Fund

	Six Months Ended July 31, 2018						Period Ended January 31, 2018(a)
	Shares			Amount			Shares		Amount
Class N
Issued from the sale of shares		386		$	4,565			205,579	$	2,065,500
Issued in connection with the reinvestment of distributions		1,458			17,016			3,036		35,490
Redeemed		(4	)		(42	)		—		—
Net change		1,840		$	21,539			208,615	$	2,100,990
Increase (decrease) from capital share transactions		1,840		$	21,539			208,615	$	2,100,990

(a) From commencement of operations on February 28, 2017 through January 31, 2018.

Sustainable Future 2050 Fund

	Six Months Ended July 31, 2018						Period Ended January 31, 2018(a)
	Shares			Amount			Shares		Amount
Class N
Issued from the sale of shares		4,761		$	55,129			200,001	$	2,000,000
Issued in connection with the reinvestment of distributions		1,649			19,304			2,974		34,920
Redeemed		(44	)		(533	)		—		—
Net change		6,366		$	73,900			202,975	$	2,034,920
Increase (decrease) from capital share transactions		6,366		$	73,900			202,975	$	2,034,920

(a) From commencement of operations on February 28, 2017 through January 31, 2018.

|  84

Notes to Financial Statements (continued)

July 31, 2018 (Unaudited)

7.  Capital Shares (continued).

Sustainable Future 2055 Fund

	Six Months Ended July 31, 2018						Period Ended January 31, 2018(a)
	Shares			Amount			Shares			Amount
Class N
Issued from the sale of shares		3,571		$	43,030			202,063		$	2,024,247
Issued in connection with the reinvestment of distributions		1,482			17,374			2,990			35,097
Redeemed		(6	)		(67	)		(347	)		(4,091	)
Net change		5,047		$	60,337			204,706		$	2,055,253
Increase (decrease) from capital share transactions		5,047		$	60,337			204,706		$	2,055,253

(a) From commencement of operations on February 28, 2017 through January 31, 2018.

Sustainable Future 2060 Fund

	Six Months Ended July 31, 2018						Period Ended January 31, 2018(a)
	Shares			Amount			Shares			Amount
Class N
Issued from the sale of shares		1,087		$	12,919			205,877		$	2,069,219
Issued in connection with the reinvestment of distributions		1,464			17,158			2,983			35,016
Redeemed		(5	)		(55	)		(849	)		(9,947	)
Net change		2,546		$	30,022			208,011		$	2,094,288
Increase (decrease) from capital share transactions		2,546		$	30,022			208,011		$	2,094,288

(a) From commencement of operations on February 28, 2017 through January 31, 2018.

85  |

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. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.

Not applicable.

Item 13. Exhibits.

(a) (1) Not applicable.

(a) (2) Certifications of Principal Executive Officer and Principal Financial Officer pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)), 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, 2018

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, 2018
By:	/s/ Michael C. Kardok
Name:	Michael C. Kardok
Title:	Treasurer
Date:	September 21, 2018