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

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORMN-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, 2019

Item 1. Report to Stockholders.

The Registrant’s semi-annual report transmitted to shareholders pursuant to Rule30e-1 under the Investment Company Act of 1940 is as follows:

Semiannual Report

July 31, 2019

Natixis Sustainable Future 2015 Fund^®

Natixis Sustainable Future 2020 Fund^®

Natixis Sustainable Future 2025 Fund^®

Natixis Sustainable Future 2030 Fund^®

Natixis Sustainable Future 2035 Fund^®

Natixis Sustainable Future 2040 Fund^®

Natixis Sustainable Future 2045 Fund^®

Natixis Sustainable Future 2050 Fund^®

Natixis Sustainable Future 2055 Fund^®

Natixis Sustainable Future 2060 Fund^®

Table of Contents

Portfolio Review	1
Portfolio of Investments	12
Financial Statements	77
Notes to Financial Statements	95

IMPORTANT NOTICE TO SHAREHOLDERS

Beginning on January 1, 2021, as permitted by regulations adopted by the Securities and Exchange Commission, paper copies of shareholder reports like this one will no longer be sent by mail, unless you specifically request paper copies of the reports from the Fund or from your financial intermediary, such as a broker-dealer or bank. Instead, the reports will be made available on the Funds’ website, and you will be notified by mail each time a report is posted and provided with a website link to access the report. If you wish to continue receiving paper copies of your shareholder reports after January 1, 2021, you can inform the Fund at any time by calling 1-800-225-5478. If you hold your account with a financial intermediary and you wish to continue receiving paper copies after January 1, 2021, you should call your financial intermediary directly. Paper copies are provided free of charge, and your election to receive reports in paper will apply to all funds held with the Natixis Funds complex. If you have already elected to receive shareholder reports electronically, you will not be affected by this change and you need not take any action. You currently may elect to receive shareholder reports and other communications from the Fund or your financial intermediary electronically atwww.icsdelivery.com/natixisfunds.

NATIXIS SUSTAINABLE FUTURE FUNDS^®

Managers	Symbols
Natixis Advisors, L.P.*
Mirova Global Sustainable Equity Segment	2015 Fund    Class N    NSFBX
Mirova Carbon Neutral U.S. Equity Segment	2020 Fund    Class N    NSFDX
Mirova US LLC (formerly a division within Ostrum Asset Management U.S., LLC)	2025 Fund    Class N    NSFEX 2030 Fund    Class N    NSFFX
	2035 Fund    Class N    NSFGX
AIA U.S. Large Cap Value ESG Segment	2040 Fund    Class N    NSFHX
AIA U.S. Small/Mid Cap ESG Segment	2045 Fund    Class N    NSFJX
AIA International Developed Markets Equity ESG Segment	2050 Fund    Class N    NSFKX
AIA Emerging Markets ESG Segment	2055 Fund    Class N    NSFLX
Active Index Advisors®, a division of Natixis Advisors, L.P.	2060 Fund    Class N    NSFMX
Harris Associates Large Cap Value Segment
Harris Associates L.P.
Loomis Sayles All Cap Growth Segment
Loomis Sayles Core Fixed Income Segment
Loomis, Sayles & Company, L.P.
Portfolio Allocations
Wilshire Associates Incorporated

* Natixis Advisors, L.P. is responsible for determining each Fund’s available underlying funds and separately managed segments and supervising the activities of each Fund’s subadvisers.

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, 2019²

										Expense Ratios3
	6 Months			1 Year			Life of Fund			Gross			Net
Class N (Inception 2/28/17)
NAV		6.47	%		5.35	%		7.54	%		4.12	%		0.55	%
Comparative Performance
S&P Target Date 2015® Index1		5.82			4.81			6.01

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.

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NATIXIS SUSTAINABLE FUTURE 2020 FUND

Average Annual Total Returns – July 31, 2019²

										Expense Ratios3
	6 Months			1 Year			Life of Fund			Gross			Net
Class N (Inception 2/28/17)
NAV		6.54	%		5.06	%		8.16	%		4.15	%		0.55	%
Comparative Performance
S&P Target Date 2020® Index1		6.07			4.66			6.45

NATIXIS SUSTAINABLE FUTURE 2025 FUND

Average Annual Total Returns – July 31, 2019²

										Expense Ratios3
	6 Months			1 Year			Life of Fund			Gross			Net
Class N (Inception 2/28/17)
NAV		6.70	%		4.59	%		8.60	%		4.82	%		0.56	%
Comparative Performance
S&P Target Date 2025® Index1		6.42			4.33			7.03

NATIXIS SUSTAINABLE FUTURE 2030 FUND

Average Annual Total Returns – July 31, 2019²

										Expense Ratios3
	6 Months			1 Year			Life of Fund			Gross			Net
Class N (Inception 2/28/17)
NAV		7.13	%		4.69	%		9.52	%		5.19	%		0.57	%
Comparative Performance
S&P Target Date 2030® Index1		6.80			3.92			7.55

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.

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NATIXIS SUSTAINABLE FUTURE FUNDS^®

NATIXIS SUSTAINABLE FUTURE 2035 FUND

Average Annual Total Returns – July 31, 2019²

										Expense Ratios3
	6 Months			1 Year			Life of Fund			Gross			Net
Class N (Inception 2/28/17)
NAV		7.32	%		4.19	%		10.04	%		4.95	%		0.58	%
Comparative Performance
S&P Target Date 2035® Index1		7.09			3.49			8.01

NATIXIS SUSTAINABLE FUTURE 2040 FUND

Average Annual Total Returns – July 31, 2019²

										Expense Ratios3
	6 Months			1 Year			Life of Fund			Gross			Net
Class N (Inception 2/28/17)
NAV		7.18	%		3.68	%		10.43	%		5.16	%		0.59	%
Comparative Performance
S&P Target Date 2040® Index1		7.32			3.25			8.34

NATIXIS SUSTAINABLE FUTURE 2045 FUND

Average Annual Total Returns – July 31, 2019²

										Expense Ratios3
	6 Months			1 Year			Life of Fund			Gross			Net
Class N (Inception 2/28/17)
NAV		7.44	%		3.54	%		10.79	%		6.13	%		0.59	%
Comparative Performance
S&P Target Date 2045® Index1		7.42			3.06			8.50

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 recentmonth-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.

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NATIXIS SUSTAINABLE FUTURE 2050 FUND

Average Annual Total Returns – July 31, 2019²

										Expense Ratios3
	6 Months			1 Year			Life of Fund			Gross			Net
Class N (Inception 2/28/17)
NAV		7.28	%		3.22	%		10.85	%		6.08	%		0.60	%
Comparative Performance
S&P Target Date 2050® Index1		7.45			2.90			8.63

NATIXIS SUSTAINABLE FUTURE 2055 FUND

Average Annual Total Returns – July 31, 2019²

										Expense Ratios3
	6 Months			1 Year			Life of Fund			Gross			Net
Class N (Inception 2/28/17)
NAV		7.50	%		3.36	%		10.95	%		6.10	%		0.60	%
Comparative Performance
S&P Target Date 2055® Index1		7.47			2.88			8.70

NATIXIS SUSTAINABLE FUTURE 2060 FUND

Average Annual Total Returns – July 31, 2019²

										Expense Ratios3
	6 Months			1 Year			Life of Fund			Gross			Net
Class N (Inception 2/28/17)
NAV		7.34	%		3.49	%		10.98	%		6.11	%		0.60	%
Comparative Performance
S&P Target Date 2060® Index1		7.56			2.95			8.84

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 recentmonth-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 limitations set to expire on 5/31/20. When a Fund’s expenses are below the limitation, 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 limitations.

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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 as an exhibit on Form N-PORT. The Funds’ Form N-PORT is available on the SEC’s website at www.sec.gov.

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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, 2019 through July 31, 2019. 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 2/1/2019		ENDING ACCOUNT VALUE 7/31/2019		EXPENSES PAID DURING PERIOD* 2/1/2019 – 7/31/2019
Class N
Actual		$1,000.00		$1,064.70		$1.79
Hypothetical (5% return before expenses)		$1,000.00		$1,023.06		$1.76

* Expenses are equal to the Fund’s annualized expense ratio (after waiver/reimbursement) of 0.35%, 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 2/1/2019		ENDING ACCOUNT VALUE 7/31/2019		EXPENSES PAID DURING PERIOD* 2/1/2019 – 7/31/2019
Class N
Actual		$1,000.00		$1,065.40		$1.84
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 2025 FUND	BEGINNING ACCOUNT VALUE 2/1/2019		ENDING ACCOUNT VALUE 7/31/2019		EXPENSES PAID DURING PERIOD* 2/1/2019 – 7/31/2019
Class N
Actual		$1,000.00		$1,067.00		$1.95
Hypothetical (5% return before expenses)		$1,000.00		$1,022.91		$1.91

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

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NATIXIS SUSTAINABLE FUTURE 2030 FUND	BEGINNING ACCOUNT VALUE 2/1/2019		ENDING ACCOUNT VALUE 7/31/2019		EXPENSES PAID DURING PERIOD* 2/1/2019 – 7/31/2019
Class N
Actual		$1,000.00		$1,071.30		$2.11
Hypothetical (5% return before expenses)		$1,000.00		$1,022.76		$2.06

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

NATIXIS SUSTAINABLE FUTURE 2035 FUND	BEGINNING ACCOUNT VALUE 2/1/2019		ENDING ACCOUNT VALUE 7/31/2019		EXPENSES PAID DURING PERIOD* 2/1/2019 – 7/31/2019
Class N
Actual		$1,000.00		$1,073.20		$2.21
Hypothetical (5% return before expenses)		$1,000.00		$1,022.66		$2.16

* Expenses are equal to the Fund’s annualized expense ratio (after waiver/reimbursement) of 0.43%, 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 2/1/2019		ENDING ACCOUNT VALUE 7/31/2019		EXPENSES PAID DURING PERIOD* 2/1/2019 – 7/31/2019
Class N
Actual		$1,000.00		$1,071.80		$2.21
Hypothetical (5% return before expenses)		$1,000.00		$1,022.66		$2.16

* Expenses are equal to the Fund’s annualized expense ratio (after waiver/reimbursement) of 0.43%, 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 2/1/2019		ENDING ACCOUNT VALUE 7/31/2019		EXPENSES PAID DURING PERIOD* 2/1/2019 – 7/31/2019
Class N
Actual		$1,000.00		$1,074.40		$2.21
Hypothetical (5% return before expenses)		$1,000.00		$1,022.66		$2.16

* Expenses are equal to the Fund’s annualized expense ratio (after waiver/reimbursement) of 0.43%, 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 2/1/2019		ENDING ACCOUNT VALUE 7/31/2019		EXPENSES PAID DURING PERIOD* 2/1/2019 – 7/31/2019
Class N
Actual		$1,000.00		$1,072.80		$2.26
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.

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NATIXIS SUSTAINABLE FUTURE 2055 FUND	BEGINNING ACCOUNT VALUE 2/1/2019		ENDING ACCOUNT VALUE 7/31/2019		EXPENSES PAID DURING PERIOD* 2/1/2019 – 7/31/2019
Class N
Actual		$1,000.00		$1,075.00		$2.32
Hypothetical (5% return before expenses)		$1,000.00		$1,022.56		$2.26

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

NATIXIS SUSTAINABLE FUTURE 2060 FUND	BEGINNING ACCOUNT VALUE 2/1/2019		ENDING ACCOUNT VALUE 7/31/2019		EXPENSES PAID DURING PERIOD* 2/1/2019 – 7/31/2019
Class N
Actual		$1,000.00		$1,073.40		$2.31
Hypothetical (5% return before expenses)		$1,000.00		$1,022.56		$2.26

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

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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 (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) 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, (ii) arrangements in respect of the distribution of the Funds’ shares and the related costs, (iii) the allocation of the Funds’ brokerage, if any, including, if applicable, allocations to brokers affiliated with the Adviser and the use of “soft” commission dollars to pay Fund expenses and to pay for research and other similar services, (iv) each Adviser’s policies and procedures relating to, among other things, compliance, trading and best execution, proxy voting and valuation, (v) information about amounts invested by the Funds’ portfolio managers in the Funds or in similar accounts that they manage and (vi) 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 2019. 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 that, effective April 30, 2019, Harris Associates L.P. and Loomis, Sayles & Company, L.P. were added as sub-advisers for the Funds.

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.

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 peer

9  |

groups and categories of funds and the Funds’ performance benchmarks. In addition, the Trustees reviewed data prepared by an independent third party that analyzed the performance of the Funds using a variety of performance metrics, including metrics that measured the performance of the Funds on a risk adjusted basis.

The Board noted that, through December 31, 2018, each Fund’s one-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
Natixis Sustainable Future 2015 Fund		16	%		N/A		N/A
Natixis Sustainable Future 2020 Fund		9	%		N/A		N/A
Natixis Sustainable Future 2025 Fund		4	%		N/A		N/A
Natixis Sustainable Future 2030 Fund		7	%		N/A		N/A
Natixis Sustainable Future 2035 Fund		4	%		N/A		N/A
Natixis Sustainable Future 2040 Fund		2	%		N/A		N/A
Natixis Sustainable Future 2045 Fund		4	%		N/A		N/A
Natixis Sustainable Future 2050 Fund		4	%		N/A		N/A
Natixis Sustainable Future 2055 Fund		4	%		N/A		N/A
Natixis Sustainable Future 2060 Fund		4	%		N/A		N/A

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 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 each Fund’s advisory and sub-advisory fees, 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 they considered the amounts waived or reimbursed by the Advisers for each Fund. The Trustees further noted that management had proposed to reduce the expense caps for each Fund.

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 in that the advisory fee paid by each Fund varies based on its asset size and its allocations to the sub-advisers. They also noted that each Fund’s portfolio consists of underlying investments in both affiliated funds and separately managed segments, with the asset allocation and glide path decisions made by an unaffiliated sub-adviser (i.e., Wilshire). The Trustees considered that 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 their 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.

|  10

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 considered management’s explanation of the factors that are taken into account with respect to the implementation of breakpoints in investment advisory fees or expense caps. With respect to economies of scale, the Trustees noted that each of the Funds was subject to an expense cap. The Trustees also considered management’s proposal to reduce the expense cap for each Fund. 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.

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, 2020.

11  |

Portfolio of Investments – as of July 31, 2019 (Unaudited)

Natixis Sustainable Future 2015 Fund

Shares		Description	Value (†)
	Common Stocks — 31.3% of Net Assets
		Aerospace & Defense — 0.2%
	16	Axon Enterprise, Inc.(a)	$	1,123
	20	Moog, Inc., Class A		1,629
	2	Raytheon Co.		365
	10	Teledyne Technologies, Inc.(a)		2,913
	28	United Technologies Corp.		3,741
				9,771
		Air Freight & Logistics — 0.5%
	205	Expeditors International of Washington, Inc.		15,652
	28	FedEx Corp.		4,775
	29	United Parcel Service, Inc., Class B		3,464
				23,891
		Airlines — 0.1%
	204	American Airlines Group, Inc.		6,224
		Auto Components — 0.2%
	100	American Axle & Manufacturing Holdings, Inc.(a)		1,207
	61	Aptiv PLC		5,347
	12	BorgWarner, Inc.		453
	92	Delphi Technologies PLC		1,724
	18	Visteon Corp.(a)		1,186
				9,917
		Automobiles — 0.4%
	670	Fiat Chrysler Automobiles NV		8,838
	233	General Motors Co.		9,399
				18,237
		Banks — 2.1%
	53	Ameris Bancorp		2,108
	96	BancorpSouth Bank		2,869
	530	Bank of America Corp.		16,260
	86	BB&T Corp.		4,432
	238	Citigroup, Inc.		16,936
	93	Citizens Financial Group, Inc.		3,465
	73	Columbia Banking System, Inc.		2,753
	7	Comerica, Inc.		512
	186	CVB Financial Corp.		4,094
	168	Fulton Financial Corp.		2,856
	57	Huntington Bancshares, Inc.		812
	85	International Bancshares Corp.		3,199
	135	KeyCorp		2,480
	16	M&T Bank Corp.		2,628
	252	People’s United Financial, Inc.		4,138
	52	PNC Financial Services Group, Inc. (The)		7,431
	98	Regions Financial Corp.		1,561
	132	Trustmark Corp.		4,691
	198	Wells Fargo & Co.		9,585
	46	Westamerica Bancorporation		2,949
	35	Wintrust Financial Corp.		2,504
	28	Zions Bancorp N.A.		1,262
				99,525
		Beverages — 1.0%
	21	Brown-Forman Corp., Class B		1,151
	253	Coca-Cola Co. (The)		13,315
	41	Constellation Brands, Inc., Class A		8,070
	312	Monster Beverage Corp.(a)		20,115
	31	PepsiCo, Inc.		3,962
				46,613
		Biotechnology — 1.0%
	13	AbbVie, Inc.		866
	47	Amgen, Inc.		8,769
	4	Biogen, Inc.(a)		951
		Biotechnology — continued
	82	BioMarin Pharmaceutical, Inc.(a)	$	6,504
	14	Celgene Corp.(a)		1,286
	35	Gilead Sciences, Inc.		2,293
	14	Ligand Pharmaceuticals, Inc.(a)		1,281
	46	Medicines Co. (The)(a)		1,649
	68	Regeneron Pharmaceuticals, Inc.(a)		20,724
	24	Repligen Corp.(a)		2,266
	1	Vertex Pharmaceuticals, Inc.(a)		167
				46,756
		Building Products — 0.2%
	149	Johnson Controls International PLC		6,323
	14	Lennox International, Inc.		3,591
				9,914
		Capital Markets — 2.3%
	2	Affiliated Managers Group, Inc.		172
	8	Ameriprise Financial, Inc.		1,164
	277	Bank of New York Mellon Corp. (The)		12,997
	8	BlackRock, Inc.		3,741
	275	Charles Schwab Corp. (The)		11,886
	12	CME Group, Inc.		2,333
	38	FactSet Research Systems, Inc.		10,537
	50	Franklin Resources, Inc.		1,632
	31	Goldman Sachs Group, Inc. (The)		6,824
	6	Intercontinental Exchange, Inc.		527
	31	Invesco Ltd.		595
	68	Janus Henderson Group PLC		1,365
	67	Legg Mason, Inc.		2,523
	48	Moody’s Corp.		10,288
	47	MSCI, Inc.		10,680
	31	Northern Trust Corp.		3,038
	27	S&P Global, Inc.		6,614
	175	SEI Investments Co.		10,428
	203	State Street Corp.		11,792
				109,136
		Chemicals — 0.4%
	13	Ecolab, Inc.		2,622
	37	HB Fuller Co.		1,769
	26	Innospec, Inc.		2,428
	3	International Flavors & Fragrances, Inc.		432
	33	Linde PLC		6,312
	31	Minerals Technologies, Inc.		1,651
	18	Stepan Co.		1,785
				16,999
		Commercial Services & Supplies — 0.1%
	38	Healthcare Services Group, Inc.		908
	19	MSA Safety, Inc.		2,002
	28	Tetra Tech, Inc.		2,218
	11	Waste Management, Inc.		1,287
				6,415
		Communications Equipment — 0.4%
	45	Ciena Corp.(a)		2,035
	265	Cisco Systems, Inc.		14,681
	24	InterDigital, Inc.		1,546
	25	Lumentum Holdings, Inc.(a)		1,416
	4	Motorola Solutions, Inc.		664
				20,342
		Construction & Engineering — 0.1%
	86	AECOM(a)		3,092
		Consumer Finance — 0.5%
	70	American Express Co.		8,706

See accompanying notes to financial statements.

|  12

Portfolio of Investments – as of July 31, 2019 (Unaudited)

Natixis Sustainable Future 2015 Fund – (continued)

Shares		Description	Value (†)
		Consumer Finance — continued
	165	Capital One Financial Corp.	$	15,249
	25	Navient Corp.		354
				24,309
		Containers & Packaging — 0.1%
	39	Ball Corp.		2,788
	6	Crown Holdings, Inc.(a)		384
	30	International Paper Co.		1,317
	75	Owens-Illinois, Inc.		1,273
				5,762
		Distributors — 0.1%
	24	Genuine Parts Co.		2,331
	13	POOL CORP.		2,462
				4,793
		Diversified Consumer Services — 0.1%
	56	Service Corp. International		2,584
		Diversified Telecommunication Services — 0.1%
	41	AT&T, Inc.		1,396
	22	Verizon Communications, Inc.		1,216
				2,612
		Electric Utilities — 0.2%
	78	American Electric Power Co., Inc.		6,849
	11	Edison International		820
	13	Eversource Energy		986
	25	IDACORP, Inc.		2,552
				11,207
		Electrical Equipment — 0.1%
	11	Acuity Brands, Inc.		1,476
	24	Eaton Corp. PLC		1,973
	17	Hubbell, Inc.		2,208
				5,657
		Electronic Equipment, Instruments & Components — 0.6%
	48	Avnet, Inc.		2,180
	23	Belden, Inc.		1,046
	49	Cognex Corp.		2,156
	11	Coherent, Inc.(a)		1,527
	10	Littelfuse, Inc.		1,690
	9	Rogers Corp.(a)		1,428
	117	TE Connectivity Ltd.		10,811
	58	Trimble, Inc.(a)		2,451
	86	Vishay Intertechnology, Inc.		1,462
	12	Zebra Technologies Corp., Class A(a)		2,531
				27,282
		Energy Equipment & Services — 0.4%
	29	Apergy Corp.(a)		943
	29	Baker Hughes, a GE Co.		736
	63	C&J Energy Services, Inc.(a)		689
	15	Core Laboratories NV		753
	143	Halliburton Co.		3,289
	52	National Oilwell Varco, Inc.		1,239
	57	Oceaneering International, Inc.(a)		881
	51	Oil States International, Inc.(a)		761
	229	Schlumberger Ltd.		9,153
	35	TechnipFMC PLC		964
	75	U.S. Silica Holdings, Inc.		1,039
				20,447
		Entertainment — 0.6%
	22	Activision Blizzard, Inc.		1,072
	41	Cinemark Holdings, Inc.		1,637
	11	Electronic Arts, Inc.(a)		1,017
		Entertainment — continued
	43	Netflix, Inc.(a)	$	13,889
	2	Take-Two Interactive Software, Inc.(a)		245
	7	Viacom, Inc., Class B		212
	77	Walt Disney Co. (The)		11,012
				29,084
		Food & Staples Retailing — 0.1%
	53	Kroger Co. (The)		1,122
	157	SpartanNash Co.		1,856
	7	Sysco Corp.		480
	9	Walgreens Boots Alliance, Inc.		490
				3,948
		Food Products — 0.4%
	44	Campbell Soup Co.		1,819
	535	Danone S.A., Sponsored ADR		9,213
	15	General Mills, Inc.		797
	57	Hain Celestial Group, Inc. (The)(a)		1,241
	2	Hershey Co. (The)		303
	17	Ingredion, Inc.		1,314
	9	J.M. Smucker Co. (The)		1,001
	8	Kellogg Co.		466
	47	Kraft Heinz Co. (The)		1,504
	5	Mondelez International, Inc., Class A		267
				17,925
		Gas Utilities — 0.1%
	51	New Jersey Resources Corp.		2,543
	29	ONE Gas, Inc.		2,644
	56	South Jersey Industries, Inc.		1,907
				7,094
		Health Care Equipment & Supplies — 0.5%
	11	Alcon, Inc.(a)		646
	4	Align Technology, Inc.(a)		836
	1	Becton Dickinson and Co.		253
	6	Boston Scientific Corp.(a)		255
	2	Danaher Corp.		281
	9	DENTSPLY SIRONA, Inc.		490
	1	Edwards Lifesciences Corp.(a)		213
	26	Globus Medical, Inc.(a)		1,185
	13	Haemonetics Corp.(a)		1,587
	1	Intuitive Surgical, Inc.(a)		519
	105	Meridian Bioscience, Inc.		1,255
	23	Merit Medical Systems, Inc.(a)		907
	28	STERIS PLC		4,168
	1	Stryker Corp.		210
	53	Varian Medical Systems, Inc.(a)		6,221
	18	West Pharmaceutical Services, Inc.		2,471
				21,497
		Health Care Providers & Services — 0.7%
	32	Acadia Healthcare Co., Inc.(a)		1,022
	10	Amedisys, Inc.(a)		1,379
	2	Anthem, Inc.		589
	19	BioTelemetry, Inc.(a)		892
	55	Centene Corp.(a)		2,865
	6	Chemed Corp.		2,432
	3	Cigna Corp.		510
	180	CVS Health Corp.		10,057
	24	Encompass Health Corp.		1,532
	41	HCA Healthcare, Inc.		5,474
	19	Henry Schein, Inc.(a)		1,264
	2	Humana, Inc.		593
	9	Laboratory Corp. of America Holdings(a)		1,508
	33	MEDNAX, Inc.(a)		811

See accompanying notes to financial statements.

13  |

Portfolio of Investments – as of July 31, 2019 (Unaudited)

Natixis Sustainable Future 2015 Fund – (continued)

Shares		Description	Value (†)
		Health Care Providers & Services — continued
	52	Patterson Cos., Inc.	$	1,030
	15	Quest Diagnostics, Inc.		1,531
	8	UnitedHealth Group, Inc.		1,992
				35,481
		Health Care Technology — 0.3%
	110	Allscripts Healthcare Solutions, Inc.(a)		1,133
	147	Cerner Corp.		10,533
	22	Medidata Solutions, Inc.(a)		2,010
				13,676
		Hotels, Restaurants & Leisure — 1.3%
	8	Domino’s Pizza, Inc.		1,956
	26	Dunkin’ Brands Group, Inc.		2,084
	69	Hilton Worldwide Holdings, Inc.		6,662
	15	Jack in the Box, Inc.		1,077
	16	Marriott Vacations Worldwide Corp.		1,636
	2	McDonald’s Corp.		421
	291	MGM Resorts International		8,736
	25	Six Flags Entertainment Corp.		1,321
	181	Starbucks Corp.		17,139
	96	Wendy’s Co. (The)		1,746
	305	Yum China Holdings, Inc.		13,878
	61	Yum! Brands, Inc.		6,864
				63,520
		Household Durables — 0.1%
	9	iRobot Corp.(a)		658
	77	KB Home		2,023
	58	Meritage Homes Corp.(a)		3,643
	41	Tupperware Brands Corp.		627
				6,951
		Household Products — 0.5%
	116	Colgate-Palmolive Co.		8,322
	137	Procter & Gamble Co. (The)		16,171
				24,493
		Independent Power & Renewable Electricity Producers — 0.1%
	51	AES Corp. (The)		856
	34	Ormat Technologies, Inc.		2,229
	80	Pattern Energy Group, Inc.		1,834
				4,919
		Industrial Conglomerates — 0.2%
	1,022	General Electric Co.		10,680
		Insurance — 0.7%
	6	Aflac, Inc.		316
	26	Allstate Corp. (The)		2,792
	208	American International Group, Inc.		11,646
	5	Brighthouse Financial, Inc.(a)		196
	43	Chubb Ltd.		6,572
	44	First American Financial Corp.		2,544
	11	Hartford Financial Services Group, Inc. (The)		634
	7	Lincoln National Corp.		457
	17	Marsh & McLennan Cos., Inc.		1,680
	11	MetLife, Inc.		544
	45	Prudential Financial, Inc.		4,559
	19	Travelers Cos., Inc. (The)		2,786
				34,726
		Interactive Media & Services — 1.5%
	9	Alphabet, Inc., Class A(a)		10,964
	23	Alphabet, Inc., Class C(a)		27,984
	172	Facebook, Inc., Class A(a)		33,407
	8	TripAdvisor, Inc.(a)		353
				72,708
		Internet & Direct Marketing Retail — 1.6%
	128	Alibaba Group Holding Ltd., Sponsored ADR(a)	$	22,158
	16	Amazon.com, Inc.(a)		29,869
	8	Booking Holdings, Inc.(a)		15,093
	196	eBay, Inc.		8,073
				75,193
		IT Services — 1.6%
	64	Automatic Data Processing, Inc.		10,657
	5	Cognizant Technology Solutions Corp., Class A		326
	110	DXC Technology Co.		6,135
	44	Gartner, Inc.(a)		6,131
	6	International Business Machines Corp.		889
	34	Leidos Holdings, Inc.		2,791
	35	MasterCard, Inc., Class A		9,529
	8	PayPal Holdings, Inc.(a)		883
	131	Sabre Corp.		3,080
	181	Visa, Inc., Class A		32,218
	40	Western Union Co. (The)		840
	13	WEX, Inc.(a)		2,835
				76,314
		Leisure Products — 0.0%
	68	Callaway Golf Co.		1,247
		Life Sciences Tools & Services — 0.1%
	1	Illumina, Inc.(a)		299
	7	IQVIA Holdings, Inc.(a)		1,114
	4	Thermo Fisher Scientific, Inc.		1,111
				2,524
		Machinery — 1.3%
	32	AGCO Corp.		2,464
	77	Caterpillar, Inc.		10,139
	46	Cummins, Inc.		7,544
	79	Deere & Co.		13,086
	36	Flowserve Corp.		1,801
	24	IDEX Corp.		4,037
	43	ITT, Inc.		2,684
	54	Kennametal, Inc.		1,867
	34	Oshkosh Corp.		2,842
	70	Parker Hannifin Corp.		12,256
	11	Proto Labs, Inc.(a)		1,145
	42	Terex Corp.		1,279
	37	Toro Co. (The)		2,694
	4	Xylem, Inc.		321
				64,159
		Media — 0.6%
	2	Cable One, Inc.		2,434
	12	CBS Corp., Class B		618
	29	Charter Communications, Inc., Class A(a)		11,176
	255	Comcast Corp., Class A		11,009
	32	Discovery, Inc., Series C(a)		904
	10	Interpublic Group of Cos., Inc. (The)		229
	46	New York Times Co. (The), Class A		1,641
	77	News Corp., Class A		1,013
	18	Omnicom Group, Inc.		1,444
				30,468
		Metals & Mining — 0.2%
	77	Commercial Metals Co.		1,348
	80	Newmont Goldcorp Corp.		2,922
	7	Nucor Corp.		381
	33	Reliance Steel & Aluminum Co.		3,298
	21	Royal Gold, Inc.		2,403
				10,352

See accompanying notes to financial statements.

|  14

Portfolio of Investments – as of July 31, 2019 (Unaudited)

Natixis Sustainable Future 2015 Fund – (continued)

Shares		Description	Value (†)
		Multi-Utilities — 0.1%
	45	Consolidated Edison, Inc.	$	3,823
	8	DTE Energy Co.		1,017
	12	Sempra Energy		1,625
				6,465
		Multiline Retail — 0.0%
	10	Macy’s, Inc.		227
	11	Target Corp.		951
				1,178
		Oil, Gas & Consumable Fuels — 0.7%
	262	Apache Corp.		6,398
	1,471	Chesapeake Energy Corp.(a)		2,662
	50	Concho Resources, Inc.		4,884
	476	Denbury Resources, Inc.(a)		538
	45	Diamondback Energy, Inc.		4,654
	50	EOG Resources, Inc.		4,292
	80	EQT Corp.		1,209
	72	Green Plains, Inc.		726
	40	Hess Corp.		2,594
	89	Noble Energy, Inc.		1,965
	32	ONEOK, Inc.		2,243
	23	Valero Energy Corp.		1,961
	41	World Fuel Services Corp.		1,601
				35,727
		Paper & Forest Products — 0.1%
	32	Domtar Corp.		1,358
	57	Louisiana-Pacific Corp.		1,490
				2,848
		Personal Products — 0.0%
	2	Estee Lauder Cos., Inc. (The), Class A		368
		Pharmaceuticals — 0.6%
	1	Allergan PLC		160
	11	Bristol-Myers Squibb Co.		489
	41	Catalent, Inc.(a)		2,316
	9	Eli Lilly & Co.		981
	56	Merck & Co., Inc.		4,647
	60	Novartis AG, Sponsored ADR		5,495
	205	Novo Nordisk AS, Sponsored ADR		9,824
	12	Perrigo Co. PLC		648
	48	Pfizer, Inc.		1,864
				26,424
		Professional Services — 0.2%
	34	Exponent, Inc.		2,339
	13	Insperity, Inc.		1,383
	35	Korn Ferry		1,375
	21	ManpowerGroup, Inc.		1,918
	21	Nielsen Holdings PLC		486
				7,501
		Real Estate Management & Development — 0.1%
	9	CBRE Group, Inc., Class A(a)		477
	19	Jones Lang LaSalle, Inc.		2,768
				3,245
		REITs – Apartments — 0.2%
	62	American Campus Communities, Inc.		2,899
	2	AvalonBay Communities, Inc.		418
	41	Camden Property Trust		4,252
	5	Equity Residential		394
	3	Essex Property Trust, Inc.		907
	4	Mid-America Apartment Communities, Inc.		471
				9,341
		REITs – Diversified — 0.1%
	4	Crown Castle International Corp.	$	533
	5	Digital Realty Trust, Inc.		572
	1	Equinix, Inc.		502
	48	Weyerhaeuser Co.		1,220
				2,827
		REITs – Health Care — 0.1%
	21	Ventas, Inc.		1,413
	25	Welltower, Inc.		2,078
				3,491
		REITs – Hotels — 0.0%
	78	Host Hotels & Resorts, Inc.		1,357
		REITs – Office Property — 0.3%
	6	Boston Properties, Inc.		798
	94	Corporate Office Properties Trust		2,624
	106	Douglas Emmett, Inc.		4,327
	142	Easterly Government Properties, Inc.		2,679
	47	Kilroy Realty Corp.		3,735
				14,163
		REITs – Regional Malls — 0.0%
	8	Macerich Co. (The)		264
	8	Simon Property Group, Inc.		1,298
				1,562
		REITs – Storage — 0.0%
	29	Iron Mountain, Inc.		853
	1	Public Storage		243
				1,096
		REITs – Warehouse/Industrials — 0.1%
	30	CyrusOne, Inc.		1,722
	77	Liberty Property Trust		4,027
				5,749
		Road & Rail — 0.3%
	27	Genesee & Wyoming, Inc., Class A(a)		2,965
	15	Kansas City Southern		1,856
	22	Norfolk Southern Corp.		4,205
	27	Ryder System, Inc.		1,438
	12	Union Pacific Corp.		2,159
				12,623
		Semiconductors & Semiconductor Equipment — 1.3%
	4	Advanced Micro Devices, Inc.(a)		122
	46	Applied Materials, Inc.		2,271
	33	Brooks Automation, Inc.		1,280
	21	Cabot Microelectronics Corp.		2,555
	36	Cirrus Logic, Inc.(a)		1,766
	26	Cree, Inc.(a)		1,617
	49	First Solar, Inc.(a)		3,160
	192	Intel Corp.		9,706
	5	Lam Research Corp.		1,043
	6	Microchip Technology, Inc.		566
	74	NVIDIA Corp.		12,485
	163	QUALCOMM, Inc.		11,925
	28	Silicon Laboratories, Inc.(a)		3,142
	65	Texas Instruments, Inc.		8,126
				59,764
		Software — 1.4%
	4	Adobe, Inc.(a)		1,195
	116	Autodesk, Inc.(a)		18,116
	23	Blackbaud, Inc.		2,093
	29	Bottomline Technologies, Inc.(a)		1,221
	10	Fair Isaac Corp.(a)		3,474

See accompanying notes to financial statements.

15  |

Portfolio of Investments – as of July 31, 2019 (Unaudited)

Natixis Sustainable Future 2015 Fund – (continued)

Shares		Description	Value (†)
		Software — continued
	16	LogMeIn, Inc.	$	1,216
	98	Microsoft Corp.		13,354
	397	Oracle Corp.		22,351
	25	PTC, Inc.(a)		1,695
	18	Qualys, Inc.(a)		1,558
	1	salesforce.com, inc.(a)		155
	24	Symantec Corp.		517
				66,945
		Specialty Retail — 0.4%
	21	Aaron’s, Inc.		1,324
	63	American Eagle Outfitters, Inc.		1,114
	23	Asbury Automotive Group, Inc.(a)		2,118
	8	Best Buy Co., Inc.		612
	13	Five Below, Inc.(a)		1,527
	22	Home Depot, Inc. (The)		4,701
	16	Lithia Motors, Inc., Class A		2,110
	14	Lowe’s Cos., Inc.		1,420
	18	Monro, Inc.		1,516
	10	Tiffany & Co.		939
	23	Williams-Sonoma, Inc.		1,534
				18,915
		Technology Hardware, Storage & Peripherals — 0.9%
	162	Apple, Inc.		34,512
	150	Hewlett Packard Enterprise Co.		2,155
	113	HP, Inc.		2,378
	59	NCR Corp.(a)		1,995
	8	NetApp, Inc.		468
	13	Seagate Technology PLC		602
	4	Western Digital Corp.		216
	24	Xerox Corp.		770
				43,096
		Textiles, Apparel & Luxury Goods — 0.4%
	15	Deckers Outdoor Corp.(a)		2,344
	16	Hanesbrands, Inc.		258
	11	NIKE, Inc., Class B		946
	3	PVH Corp.		267
	561	Under Armour, Inc., Class A(a)		12,942
	54	Wolverine World Wide, Inc.		1,466
				18,223
		Thrifts & Mortgage Finance — 0.1%
	206	New York Community Bancorp, Inc.		2,375
		Trading Companies & Distributors — 0.1%
	40	Fastenal Co.		1,232
	17	GATX Corp.		1,307
	10	United Rentals, Inc.(a)		1,265
	4	W.W. Grainger, Inc.		1,164
				4,968
		Water Utilities — 0.1%
	35	American Water Works Co., Inc.		4,017
	58	Aqua America, Inc.		2,433
				6,450
		Total Common Stocks (Identified Cost $1,458,916)		1,495,145
Principal Amount		Description	Value (†)
	Bonds and Notes — 18.6%
		Agency Commercial Mortgage-Backed Securities — 0.2%
$	10,000	FHLMC Multifamily Structured Pass Through Certificates, Series K012, Class A2, 4.185%, 12/25/2020(b)	$	10,221
		Automotive — 0.3%
	8,000	General Motors Financial Co., Inc., 4.350%, 1/17/2027		8,193
	8,000	Toyota Motor Credit Corp., MTN, 2.600%, 1/11/2022		8,074
				16,267
		Banking — 2.8%
	8,000	American Express Co., 3.700%, 8/03/2023		8,355
	8,000	Bank of America Corp., (fixed rate to 1/20/2022, variable rate thereafter), MTN, 3.124%, 1/20/2023		8,117
	8,000	Bank of Montreal, MTN, 1.900%, 8/27/2021		7,948
	8,000	Bank of New York Mellon Corp. (The), Series 10YR, MTN, 3.650%, 2/04/2024		8,433
	8,000	BNP Paribas S.A., MTN, 3.250%, 3/03/2023		8,254
	8,000	Capital One Financial Corp., 3.300%, 10/30/2024		8,283
	8,000	Citigroup, Inc., 4.600%, 3/09/2026		8,643
	4,000	Deutsche Bank AG, GMTN, 3.375%, 5/12/2021		3,982
	8,000	Goldman Sachs Group, Inc. (The), 3.750%, 5/22/2025		8,356
	8,000	HSBC Holdings PLC, 5.100%, 4/05/2021		8,349
	8,000	JPMorgan Chase & Co., (fixed rate to 3/01/2024, variable rate thereafter), 3.220%, 3/01/2025		8,211
	8,000	Morgan Stanley, Series F, 3.875%, 4/29/2024		8,450
	8,000	Royal Bank of Canada, GMTN, 2.150%, 3/06/2020		7,992
	8,000	Santander UK PLC, 2.375%, 3/16/2020		7,994
	8,000	SunTrust Bank, 2.250%, 1/31/2020		7,991
	8,000	Wells Fargo & Co., MTN, 3.000%, 2/19/2025		8,147
	8,000	Westpac Banking Corp., 2.750%, 1/11/2023		8,096
				135,601
		Cable Satellite — 0.2%
	8,000	Comcast Corp., 3.000%, 2/01/2024		8,211
		Construction Machinery — 0.2%
	8,000	John Deere Capital Corp., MTN, 2.650%, 1/06/2022		8,080
		Consumer Cyclical Services — 0.2%
	8,000	eBay, Inc., 3.800%, 3/09/2022		8,254
		Electric — 0.4%
	8,000	Duke Energy Corp., 3.750%, 4/15/2024		8,405
	9,000	Virginia Electric & Power Co., Series A, 3.150%, 1/15/2026		9,323
				17,728
		Financial Other — 0.2%
	8,000	ORIX Corp., 2.900%, 7/18/2022		8,130
		Food & Beverage — 0.2%
	8,000	General Mills, Inc., 4.000%, 4/17/2025		8,490
		Government Owned – No Guarantee — 0.6%
	20,000	Federal National Mortgage Association, 6.625%, 11/15/2030		28,493
		Health Insurance — 0.3%
	8,000	Anthem, Inc., 4.101%, 3/01/2028		8,509
	6,000	UnitedHealth Group, Inc., 5.800%, 3/15/2036		7,795
				16,304
		Healthcare — 0.5%
	8,000	CVS Health Corp., 3.875%, 7/20/2025		8,349
	8,000	Express Scripts Holding Co., 4.500%, 2/25/2026		8,652
	8,000	McKesson Corp., 3.950%, 2/16/2028		8,303
				25,304

See accompanying notes to financial statements.

|  16

Portfolio of Investments – as of July 31, 2019 (Unaudited)

Natixis Sustainable Future 2015 Fund – (continued)

Principal Amount		Description	Value (†)
		Independent Energy — 0.2%
$	8,000	EQT Corp., 3.000%, 10/01/2022	$	7,782
		Integrated Energy — 0.5%
	8,000	BP Capital Markets PLC, 3.814%, 2/10/2024		8,452
	8,000	Chevron Corp., 1.961%, 3/03/2020		7,991
	6,000	Shell International Finance BV, 6.375%, 12/15/2038		8,588
				25,031
		Life Insurance — 0.2%
	8,000	American International Group, Inc., 3.900%, 4/01/2026		8,440
		Media Entertainment — 0.2%
	8,000	Viacom, Inc., 6.875%, 4/30/2036		10,135
		Midstream — 0.5%
	7,000	Energy Transfer Operating LP, 4.050%, 3/15/2025		7,284
	8,000	Enterprise Products Operating LLC, 2.550%, 10/15/2019		7,999
	8,000	Kinder Morgan Energy Partners LP, 4.150%, 2/01/2024		8,436
				23,719
		Mortgage Related — 4.0%
	68,424	FNMA, 3.000%, with various maturities from 2034 to 2049(c)		69,350
	78,110	FNMA, 3.500%, 6/01/2049		80,066
	27,214	FNMA, 4.000%, 2/01/2049		28,161
	14,605	FNMA, 4.500%, 5/01/2049		15,319
				192,896
		Oil Field Services — 0.2%
	8,000	Baker Hughes a GE Co. LLC/Baker HughesCo-Obligor, Inc., 2.773%, 12/15/2022		8,064
		Pharmaceuticals — 0.3%
	8,000	AbbVie, Inc., 3.600%, 5/14/2025		8,251
	8,000	Amgen, Inc., 2.650%, 5/11/2022		8,047
				16,298
		Railroads — 0.2%
	8,000	CSX Corp., 2.600%, 11/01/2026		7,989
		REITs – Office Property — 0.1%
	5,000	Boston Properties LP, 2.750%, 10/01/2026		4,970
		Restaurants — 0.2%
	8,000	Starbucks Corp., 3.800%, 8/15/2025		8,501
		Technology — 0.9%
	8,000	Apple, Inc., 2.500%, 2/09/2025		8,066
	8,000	International Business Machines Corp., 4.000%, 6/20/2042		8,429
	8,000	Oracle Corp., 2.950%, 5/15/2025		8,208
	8,000	QUALCOMM, Inc., 3.450%, 5/20/2025		8,332
	8,000	VMware, Inc., 2.950%, 8/21/2022		8,060
				41,095
		Treasuries — 4.5%
	8,000	U.S. Treasury Bond, 2.500%, 5/15/2046		7,953
	17,000	U.S. Treasury Bond, 2.875%, 11/15/2046		18,179
	29,000	U.S. Treasury Bond, 3.000%, 5/15/2045		31,689
	8,000	U.S. Treasury Bond, 3.000%, 2/15/2048		8,759
	8,000	U.S. Treasury Bond, 3.000%, 2/15/2049		8,780
	6,000	U.S. Treasury Bond, 4.250%, 11/15/2040		7,863
	6,000	U.S. Treasury Bond, 4.375%, 5/15/2041		8,004
	18,000	U.S. Treasury Bond, 5.250%, 2/15/2029		23,048
	27,000	U.S. Treasury Note, 1.125%, 4/30/2020		26,802
	12,000	U.S. Treasury Note, 1.125%, 9/30/2021		11,807
	8,000	U.S. Treasury Note, 1.625%, 8/31/2022		7,944
	8,000	U.S. Treasury Note, 1.750%, 5/15/2023		7,968
	6,000	U.S. Treasury Note, 2.000%, 11/15/2026		6,023
	12,000	U.S. Treasury Note, 2.125%, 12/31/2022		12,110
		Treasuries — continued
$	3,000	U.S. Treasury Note, 2.250%, 11/15/2025	$	3,060
	10,000	U.S. Treasury Note, 2.250%, 11/15/2027		10,203
	8,000	U.S. Treasury Note, 2.625%, 2/15/2029		8,417
	8,000	U.S. Treasury Note, 2.875%, 9/30/2023		8,324
				216,933
		Wireless — 0.2%
	8,000	Vodafone Group PLC, 6.150%, 2/27/2037		9,808
		Wirelines — 0.3%
	8,000	AT&T, Inc., 3.400%, 5/15/2025		8,229
	8,000	AT&T, Inc., 3.875%, 1/15/2026		8,421
				16,650
		Total Bonds and Notes (Identified Cost $870,369)		889,394
Shares
	Exchange-Traded Funds — 6.3%
	3,672	iShares® ESG MSCI EAFE ETF		231,813
	2,008	iShares® ESG MSCI Emerging Markets ETF		66,927
		Total Exchange-Traded Funds (Identified Cost $291,312)		298,740
	Affiliated Mutual Funds — 42.3%
	57,070	Loomis Sayles Inflation Protected Securities Fund, Class N		602,086
	48,384	Loomis Sayles Limited Term Government and Agency Fund, Class N		548,195
	48,048	Mirova Global Green Bond Fund, Class N		507,388
	32,277	Mirova International Sustainable Equity Fund, Class N		361,829
		Total Affiliated Mutual Funds (Identified Cost $1,984,370)		2,019,498
		Total Investments — 98.5% (Identified Cost $4,604,967)		4,702,777
		Other assets less liabilities — 1.5%		71,634
		Net Assets — 100.0%	$	4,774,411
	(†)	See Note 2 of Notes to Financial Statements.
	(a)	Non-income producing security.
	(b)	Variable rate security. The interest rate adjusts periodically based on; (i) changes in current interest rates and/or prepayments on underlying pools of assets, if applicable, (ii) reference to a base lending rate plus or minus a margin, and/or (iii) reference to a base lending rate adjusted by a multiplier and/or subject to certain floors or caps. Rate as of July 31, 2019 is disclosed.
	(c)	The Fund’s investment in mortgage related securities of Federal National Mortgage Association are interests in separate pools of mortgages. All separate investments in securities of each issuer which have the same coupon rate have been aggregated for the purpose of presentation in the Portfolio of Investments.
	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.
	ETF	Exchange-Traded Fund
	FHLMC	Federal Home Loan Mortgage Corp.
	FNMA	Federal National Mortgage Association
	GMTN	Global Medium Term Note
	MTN	Medium Term Note
	REITs	Real Estate Investment Trusts

See accompanying notes to financial statements.

17  |

Portfolio of Investments – as of July 31, 2019 (Unaudited)

Natixis Sustainable Future 2015 Fund – (continued)

Asset Allocation Summary at July 31, 2019 (Unaudited)

Fixed Income	53.3	%
Equity	45.2
Total Investments	98.5
Other assets less liabilities	1.5
Net Assets	100.0	%

See accompanying notes to financial statements.

|  18

Portfolio of Investments – as of July 31, 2019 (Unaudited)

Natixis Sustainable Future 2020 Fund

Shares		Description	Value (†)
	Common Stocks — 35.4% of Net Assets
		Aerospace & Defense — 0.2%
	15	Axon Enterprise, Inc.(a)	$	1,053
	23	Moog, Inc., Class A		1,874
	3	Raytheon Co.		547
	11	Teledyne Technologies, Inc.(a)		3,204
	32	United Technologies Corp.		4,275
				10,953
		Air Freight & Logistics — 0.6%
	235	Expeditors International of Washington, Inc.		17,942
	32	FedEx Corp.		5,457
	35	United Parcel Service, Inc., Class B		4,182
				27,581
		Airlines — 0.1%
	232	American Airlines Group, Inc.		7,078
		Auto Components — 0.2%
	113	American Axle & Manufacturing Holdings, Inc.(a)		1,364
	70	Aptiv PLC		6,136
	14	BorgWarner, Inc.		529
	103	Delphi Technologies PLC		1,930
	24	Visteon Corp.(a)		1,581
				11,540
		Automobiles — 0.4%
	759	Fiat Chrysler Automobiles NV		10,011
	264	General Motors Co.		10,650
				20,661
		Banks — 2.3%
	59	Ameris Bancorp		2,346
	106	BancorpSouth Bank		3,168
	601	Bank of America Corp.		18,439
	99	BB&T Corp.		5,101
	272	Citigroup, Inc.		19,356
	118	Citizens Financial Group, Inc.		4,397
	81	Columbia Banking System, Inc.		3,055
	8	Comerica, Inc.		586
	205	CVB Financial Corp.		4,512
	186	Fulton Financial Corp.		3,162
	88	Huntington Bancshares, Inc.		1,254
	94	International Bancshares Corp.		3,537
	179	KeyCorp		3,288
	18	M&T Bank Corp.		2,956
	319	People’s United Financial, Inc.		5,238
	60	PNC Financial Services Group, Inc. (The)		8,574
	113	Regions Financial Corp.		1,800
	146	Trustmark Corp.		5,189
	225	Wells Fargo & Co.		10,892
	50	Westamerica Bancorporation		3,205
	39	Wintrust Financial Corp.		2,790
	43	Zions Bancorp N.A.		1,938
				114,783
		Beverages — 1.1%
	33	Brown-Forman Corp., Class B		1,809
	291	Coca-Cola Co. (The)		15,315
	46	Constellation Brands, Inc., Class A		9,054
	357	Monster Beverage Corp.(a)		23,016
	36	PepsiCo, Inc.		4,601
				53,795
		Biotechnology — 1.1%
	17	AbbVie, Inc.		1,132
	53	Amgen, Inc.		9,889
	4	Biogen, Inc.(a)		951
		Biotechnology — continued
	94	BioMarin Pharmaceutical, Inc.(a)	$	7,456
	17	Celgene Corp.(a)		1,562
	42	Gilead Sciences, Inc.		2,752
	14	Ligand Pharmaceuticals, Inc.(a)		1,281
	51	Medicines Co. (The)(a)		1,828
	76	Regeneron Pharmaceuticals, Inc.(a)		23,162
	26	Repligen Corp.(a)		2,454
	2	Vertex Pharmaceuticals, Inc.(a)		333
				52,800
		Building Products — 0.2%
	171	Johnson Controls International PLC		7,257
	15	Lennox International, Inc.		3,847
				11,104
		Capital Markets — 2.6%
	3	Affiliated Managers Group, Inc.		257
	8	Ameriprise Financial, Inc.		1,164
	319	Bank of New York Mellon Corp. (The)		14,968
	10	BlackRock, Inc.		4,677
	314	Charles Schwab Corp. (The)		13,571
	15	CME Group, Inc.		2,916
	43	FactSet Research Systems, Inc.		11,924
	62	Franklin Resources, Inc.		2,023
	35	Goldman Sachs Group, Inc. (The)		7,705
	8	Intercontinental Exchange, Inc.		703
	53	Invesco Ltd.		1,017
	75	Janus Henderson Group PLC		1,505
	76	Legg Mason, Inc.		2,862
	56	Moody’s Corp.		12,003
	53	MSCI, Inc.		12,044
	37	Northern Trust Corp.		3,626
	31	S&P Global, Inc.		7,593
	201	SEI Investments Co.		11,978
	232	State Street Corp.		13,477
				126,013
		Chemicals — 0.4%
	20	Ecolab, Inc.		4,035
	41	HB Fuller Co.		1,960
	29	Innospec, Inc.		2,708
	4	International Flavors & Fragrances, Inc.		576
	37	Linde PLC		7,077
	35	Minerals Technologies, Inc.		1,864
	20	Stepan Co.		1,983
				20,203
		Commercial Services & Supplies — 0.2%
	43	Healthcare Services Group, Inc.		1,028
	21	MSA Safety, Inc.		2,212
	30	Tetra Tech, Inc.		2,376
	16	Waste Management, Inc.		1,872
				7,488
		Communications Equipment — 0.5%
	50	Ciena Corp.(a)		2,261
	324	Cisco Systems, Inc.		17,949
	26	InterDigital, Inc.		1,675
	28	Lumentum Holdings, Inc.(a)		1,586
	6	Motorola Solutions, Inc.		996
				24,467
		Construction & Engineering — 0.1%
	95	AECOM(a)		3,415
		Consumer Finance — 0.6%
	78	American Express Co.		9,701

See accompanying notes to financial statements.

19  |

Portfolio of Investments – as of July 31, 2019 (Unaudited)

Natixis Sustainable Future 2020 Fund – (continued)

Shares		Description	Value (†)
		Consumer Finance — continued
	187	Capital One Financial Corp.	$	17,282
	39	Navient Corp.		552
				27,535
		Containers & Packaging — 0.1%
	49	Ball Corp.		3,503
	10	Crown Holdings, Inc.(a)		640
	35	International Paper Co.		1,537
	83	Owens-Illinois, Inc.		1,408
				7,088
		Distributors — 0.1%
	28	Genuine Parts Co.		2,720
	14	POOL CORP.		2,651
				5,371
		Diversified Consumer Services — 0.1%
	62	Service Corp. International		2,861
		Diversified Telecommunication Services — 0.1%
	63	AT&T, Inc.		2,145
	33	Verizon Communications, Inc.		1,824
				3,969
		Electric Utilities — 0.3%
	90	American Electric Power Co., Inc.		7,903
	12	Edison International		894
	15	Eversource Energy		1,138
	28	IDACORP, Inc.		2,858
				12,793
		Electrical Equipment — 0.1%
	11	Acuity Brands, Inc.		1,476
	30	Eaton Corp. PLC		2,466
	19	Hubbell, Inc.		2,468
				6,410
		Electronic Equipment, Instruments & Components — 0.6%
	53	Avnet, Inc.		2,407
	26	Belden, Inc.		1,182
	54	Cognex Corp.		2,376
	12	Coherent, Inc.(a)		1,666
	11	Littelfuse, Inc.		1,859
	10	Rogers Corp.(a)		1,587
	133	TE Connectivity Ltd.		12,289
	64	Trimble, Inc.(a)		2,705
	95	Vishay Intertechnology, Inc.		1,615
	13	Zebra Technologies Corp., Class A(a)		2,742
				30,428
		Energy Equipment & Services — 0.5%
	38	Apergy Corp.(a)		1,236
	32	Baker Hughes, a GE Co.		813
	71	C&J Energy Services, Inc.(a)		777
	20	Core Laboratories NV		1,003
	163	Halliburton Co.		3,749
	60	National Oilwell Varco, Inc.		1,429
	65	Oceaneering International, Inc.(a)		1,004
	57	Oil States International, Inc.(a)		851
	264	Schlumberger Ltd.		10,552
	41	TechnipFMC PLC		1,129
	83	U.S. Silica Holdings, Inc.		1,150
				23,693
		Entertainment — 0.7%
	25	Activision Blizzard, Inc.		1,219
	45	Cinemark Holdings, Inc.		1,796
	15	Electronic Arts, Inc.(a)		1,387
		Entertainment — continued
	50	Netflix, Inc.(a)	$	16,149
	3	Take-Two Interactive Software, Inc.(a)		368
	11	Viacom, Inc., Class B		334
	94	Walt Disney Co. (The)		13,443
				34,696
		Food & Staples Retailing — 0.1%
	64	Kroger Co. (The)		1,354
	172	SpartanNash Co.		2,033
	10	Sysco Corp.		686
	14	Walgreens Boots Alliance, Inc.		763
				4,836
		Food Products — 0.4%
	50	Campbell Soup Co.		2,067
	599	Danone S.A., Sponsored ADR		10,315
	17	General Mills, Inc.		903
	64	Hain Celestial Group, Inc. (The)(a)		1,393
	2	Hershey Co. (The)		303
	19	Ingredion, Inc.		1,468
	10	J.M. Smucker Co. (The)		1,112
	12	Kellogg Co.		699
	54	Kraft Heinz Co. (The)		1,729
	7	Mondelez International, Inc., Class A		374
				20,363
		Gas Utilities — 0.2%
	56	New Jersey Resources Corp.		2,793
	32	ONE Gas, Inc.		2,918
	62	South Jersey Industries, Inc.		2,111
				7,822
		Health Care Equipment & Supplies — 0.5%
	14	Alcon, Inc.(a)		822
	4	Align Technology, Inc.(a)		836
	1	Becton Dickinson and Co.		253
	9	Boston Scientific Corp.(a)		382
	3	Danaher Corp.		422
	20	DENTSPLY SIRONA, Inc.		1,089
	1	Edwards Lifesciences Corp.(a)		213
	29	Globus Medical, Inc.(a)		1,322
	15	Haemonetics Corp.(a)		1,831
	1	Intuitive Surgical, Inc.(a)		520
	118	Meridian Bioscience, Inc.		1,410
	26	Merit Medical Systems, Inc.(a)		1,026
	31	STERIS PLC		4,615
	1	Stryker Corp.		210
	60	Varian Medical Systems, Inc.(a)		7,042
	20	West Pharmaceutical Services, Inc.		2,745
				24,738
		Health Care Providers & Services — 0.9%
	36	Acadia Healthcare Co., Inc.(a)		1,150
	12	Amedisys, Inc.(a)		1,655
	3	Anthem, Inc.		884
	21	BioTelemetry, Inc.(a)		986
	64	Centene Corp.(a)		3,334
	7	Chemed Corp.		2,838
	5	Cigna Corp.		850
	209	CVS Health Corp.		11,677
	26	Encompass Health Corp.		1,660
	48	HCA Healthcare, Inc.		6,408
	22	Henry Schein, Inc.(a)		1,464
	2	Humana, Inc.		593
	10	Laboratory Corp. of America Holdings(a)		1,675
	37	MEDNAX, Inc.(a)		909

See accompanying notes to financial statements.

|  20

Portfolio of Investments – as of July 31, 2019 (Unaudited)

Natixis Sustainable Future 2020 Fund – (continued)

Shares		Description	Value (†)
		Health Care Providers & Services — continued
	58	Patterson Cos., Inc.	$	1,148
	17	Quest Diagnostics, Inc.		1,735
	12	UnitedHealth Group, Inc.		2,988
				41,954
		Health Care Technology — 0.3%
	125	Allscripts Healthcare Solutions, Inc.(a)		1,287
	167	Cerner Corp.		11,966
	24	Medidata Solutions, Inc.(a)		2,193
				15,446
		Hotels, Restaurants & Leisure — 1.5%
	9	Domino’s Pizza, Inc.		2,201
	28	Dunkin’ Brands Group, Inc.		2,245
	78	Hilton Worldwide Holdings, Inc.		7,531
	17	Jack in the Box, Inc.		1,221
	18	Marriott Vacations Worldwide Corp.		1,840
	3	McDonald’s Corp.		632
	341	MGM Resorts International		10,237
	27	Six Flags Entertainment Corp.		1,426
	209	Starbucks Corp.		19,790
	106	Wendy’s Co. (The)		1,928
	348	Yum China Holdings, Inc.		15,834
	69	Yum! Brands, Inc.		7,764
				72,649
		Household Durables — 0.2%
	9	iRobot Corp.(a)		658
	85	KB Home		2,233
	64	Meritage Homes Corp.(a)		4,020
	47	Tupperware Brands Corp.		719
				7,630
		Household Products — 0.6%
	133	Colgate-Palmolive Co.		9,541
	162	Procter & Gamble Co. (The)		19,123
				28,664
		Independent Power & Renewable Electricity Producers — 0.1%
	58	AES Corp. (The)		974
	52	Ormat Technologies, Inc.		3,409
	124	Pattern Energy Group, Inc.		2,843
				7,226
		Industrial Conglomerates — 0.2%
	1,154	General Electric Co.		12,059
		Insurance — 0.8%
	9	Aflac, Inc.		474
	30	Allstate Corp. (The)		3,222
	235	American International Group, Inc.		13,158
	7	Brighthouse Financial, Inc.(a)		274
	49	Chubb Ltd.		7,489
	49	First American Financial Corp.		2,833
	16	Hartford Financial Services Group, Inc. (The)		922
	10	Lincoln National Corp.		653
	20	Marsh & McLennan Cos., Inc.		1,976
	16	MetLife, Inc.		791
	52	Prudential Financial, Inc.		5,268
	22	Travelers Cos., Inc. (The)		3,226
				40,286
		Interactive Media & Services — 1.7%
	11	Alphabet, Inc., Class A(a)		13,400
	27	Alphabet, Inc., Class C(a)		32,851
	195	Facebook, Inc., Class A(a)		37,875
	8	TripAdvisor, Inc.(a)		353
				84,479
		Internet & Direct Marketing Retail — 1.8%
	149	Alibaba Group Holding Ltd., Sponsored ADR(a)	$	25,793
	19	Amazon.com, Inc.(a)		35,469
	8	Booking Holdings, Inc.(a)		15,093
	227	eBay, Inc.		9,350
				85,705
		IT Services — 1.8%
	74	Automatic Data Processing, Inc.		12,322
	8	Cognizant Technology Solutions Corp., Class A		521
	125	DXC Technology Co.		6,971
	50	Gartner, Inc.(a)		6,967
	9	International Business Machines Corp.		1,334
	38	Leidos Holdings, Inc.		3,120
	43	MasterCard, Inc., Class A		11,708
	12	PayPal Holdings, Inc.(a)		1,325
	145	Sabre Corp.		3,409
	212	Visa, Inc., Class A		37,736
	46	Western Union Co. (The)		966
	15	WEX, Inc.(a)		3,271
				89,650
		Leisure Products — 0.0%
	76	Callaway Golf Co.		1,394
		Life Sciences Tools & Services — 0.1%
	1	Illumina, Inc.(a)		300
	8	IQVIA Holdings, Inc.(a)		1,273
	6	Thermo Fisher Scientific, Inc.		1,666
				3,239
		Machinery — 1.5%
	35	AGCO Corp.		2,695
	88	Caterpillar, Inc.		11,587
	52	Cummins, Inc.		8,528
	89	Deere & Co.		14,743
	41	Flowserve Corp.		2,051
	26	IDEX Corp.		4,374
	47	ITT, Inc.		2,934
	60	Kennametal, Inc.		2,075
	37	Oshkosh Corp.		3,092
	80	Parker Hannifin Corp.		14,006
	10	Proto Labs, Inc.(a)		1,041
	47	Terex Corp.		1,431
	41	Toro Co. (The)		2,985
	6	Xylem, Inc.		482
				72,024
		Media — 0.7%
	2	Cable One, Inc.		2,434
	18	CBS Corp., Class B		927
	33	Charter Communications, Inc., Class A(a)		12,717
	289	Comcast Corp., Class A		12,476
	35	Discovery, Inc., Series C(a)		988
	15	Interpublic Group of Cos., Inc. (The)		344
	51	New York Times Co. (The), Class A		1,820
	87	News Corp., Class A		1,145
	23	Omnicom Group, Inc.		1,845
				34,696
		Metals & Mining — 0.3%
	100	Commercial Metals Co.		1,751
	97	Newmont Goldcorp Corp.		3,542
	17	Nucor Corp.		925
	36	Reliance Steel & Aluminum Co.		3,598
	23	Royal Gold, Inc.		2,632
				12,448

See accompanying notes to financial statements.

21  |

Portfolio of Investments – as of July 31, 2019 (Unaudited)

Natixis Sustainable Future 2020 Fund – (continued)

Shares		Description	Value (†)
		Multi-Utilities — 0.2%
	52	Consolidated Edison, Inc.	$	4,418
	9	DTE Energy Co.		1,144
	13	Sempra Energy		1,761
				7,323
		Multiline Retail — 0.0%
	12	Macy’s, Inc.		273
	12	Target Corp.		1,037
				1,310
		Oil, Gas & Consumable Fuels — 0.8%
	297	Apache Corp.		7,253
	1,672	Chesapeake Energy Corp.(a)		3,026
	56	Concho Resources, Inc.		5,470
	525	Denbury Resources, Inc.(a)		593
	51	Diamondback Energy, Inc.		5,275
	57	EOG Resources, Inc.		4,893
	88	EQT Corp.		1,330
	81	Green Plains, Inc.		817
	46	Hess Corp.		2,983
	103	Noble Energy, Inc.		2,274
	37	ONEOK, Inc.		2,593
	27	Valero Energy Corp.		2,302
	53	World Fuel Services Corp.		2,069
				40,878
		Paper & Forest Products — 0.1%
	35	Domtar Corp.		1,486
	63	Louisiana-Pacific Corp.		1,647
				3,133
		Personal Products — 0.0%
	3	Estee Lauder Cos., Inc. (The), Class A		553
		Pharmaceuticals — 0.7%
	2	Allergan PLC		321
	16	Bristol-Myers Squibb Co.		711
	45	Catalent, Inc.(a)		2,542
	13	Eli Lilly & Co.		1,417
	72	Merck & Co., Inc.		5,975
	66	Novartis AG, Sponsored ADR		6,044
	236	Novo Nordisk AS, Sponsored ADR		11,309
	14	Perrigo Co. PLC		756
	74	Pfizer, Inc.		2,874
				31,949
		Professional Services — 0.2%
	37	Exponent, Inc.		2,546
	14	Insperity, Inc.		1,489
	38	Korn Ferry		1,493
	23	ManpowerGroup, Inc.		2,101
	41	Nielsen Holdings PLC		949
				8,578
		Real Estate Management & Development — 0.1%
	14	CBRE Group, Inc., Class A(a)		742
	19	Jones Lang LaSalle, Inc.		2,768
				3,510
		REITs – Apartments — 0.2%
	69	American Campus Communities, Inc.		3,226
	3	AvalonBay Communities, Inc.		626
	46	Camden Property Trust		4,771
	8	Equity Residential		631
	4	Essex Property Trust, Inc.		1,209
	4	Mid-America Apartment Communities, Inc.		471
				10,934
		REITs – Diversified — 0.1%
	5	Crown Castle International Corp.	$	667
	9	Digital Realty Trust, Inc.		1,029
	2	Equinix, Inc.		1,004
	59	Weyerhaeuser Co.		1,499
				4,199
		REITs – Health Care — 0.1%
	24	Ventas, Inc.		1,615
	38	Welltower, Inc.		3,159
				4,774
		REITs – Hotels — 0.0%
	91	Host Hotels & Resorts, Inc.		1,583
		REITs – Office Property — 0.3%
	12	Boston Properties, Inc.		1,595
	104	Corporate Office Properties Trust		2,904
	118	Douglas Emmett, Inc.		4,817
	157	Easterly Government Properties, Inc.		2,962
	52	Kilroy Realty Corp.		4,132
				16,410
		REITs – Regional Malls — 0.0%
	7	Macerich Co. (The)		231
	9	Simon Property Group, Inc.		1,460
				1,691
		REITs – Storage — 0.0%
	29	Iron Mountain, Inc.		853
	2	Public Storage		485
				1,338
		REITs – Warehouse/Industrials — 0.1%
	33	CyrusOne, Inc.		1,894
	85	Liberty Property Trust		4,446
				6,340
		Road & Rail — 0.3%
	30	Genesee & Wyoming, Inc., Class A(a)		3,294
	18	Kansas City Southern		2,228
	26	Norfolk Southern Corp.		4,969
	30	Ryder System, Inc.		1,598
	18	Union Pacific Corp.		3,239
				15,328
		Semiconductors & Semiconductor Equipment — 1.4%
	15	Advanced Micro Devices, Inc.(a)		457
	58	Applied Materials, Inc.		2,863
	43	Brooks Automation, Inc.		1,668
	21	Cabot Microelectronics Corp.		2,555
	39	Cirrus Logic, Inc.(a)		1,913
	29	Cree, Inc.(a)		1,803
	65	First Solar, Inc.(a)		4,192
	229	Intel Corp.		11,576
	5	Lam Research Corp.		1,043
	7	Microchip Technology, Inc.		661
	86	NVIDIA Corp.		14,510
	189	QUALCOMM, Inc.		13,827
	30	Silicon Laboratories, Inc.(a)		3,366
	76	Texas Instruments, Inc.		9,501
				69,935
		Software — 1.6%
	6	Adobe, Inc.(a)		1,793
	133	Autodesk, Inc.(a)		20,771
	23	Blackbaud, Inc.		2,093
	32	Bottomline Technologies, Inc.(a)		1,347
	11	Fair Isaac Corp.(a)		3,822

See accompanying notes to financial statements.

|  22

Portfolio of Investments – as of July 31, 2019 (Unaudited)

Natixis Sustainable Future 2020 Fund – (continued)

Shares		Description	Value (†)
		Software — continued
	18	LogMeIn, Inc.	$	1,367
	121	Microsoft Corp.		16,489
	458	Oracle Corp.		25,785
	28	PTC, Inc.(a)		1,898
	20	Qualys, Inc.(a)		1,731
	2	salesforce.com, inc.(a)		309
	27	Symantec Corp.		582
				77,987
		Specialty Retail — 0.5%
	28	Aaron’s, Inc.		1,765
	70	American Eagle Outfitters, Inc.		1,238
	25	Asbury Automotive Group, Inc.(a)		2,302
	9	Best Buy Co., Inc.		689
	13	Five Below, Inc.(a)		1,527
	28	Home Depot, Inc. (The)		5,983
	18	Lithia Motors, Inc., Class A		2,374
	17	Lowe’s Cos., Inc.		1,724
	19	Monro, Inc.		1,600
	13	Tiffany & Co.		1,221
	25	Williams-Sonoma, Inc.		1,667
				22,090
		Technology Hardware, Storage & Peripherals — 1.0%
	189	Apple, Inc.		40,265
	195	Hewlett Packard Enterprise Co.		2,802
	137	HP, Inc.		2,883
	66	NCR Corp.(a)		2,231
	12	NetApp, Inc.		702
	20	Seagate Technology PLC		926
	6	Western Digital Corp.		323
	32	Xerox Corp.		1,027
				51,159
		Textiles, Apparel & Luxury Goods — 0.4%
	15	Deckers Outdoor Corp.(a)		2,344
	18	Hanesbrands, Inc.		290
	17	NIKE, Inc., Class B		1,462
	4	PVH Corp.		356
	643	Under Armour, Inc., Class A(a)		14,834
	60	Wolverine World Wide, Inc.		1,629
				20,915
		Thrifts & Mortgage Finance — 0.1%
	227	New York Community Bancorp, Inc.		2,617
		Trading Companies & Distributors — 0.1%
	60	Fastenal Co.		1,848
	19	GATX Corp.		1,460
	12	United Rentals, Inc.(a)		1,519
	6	W.W. Grainger, Inc.		1,746
				6,573
		Water Utilities — 0.2%
	43	American Water Works Co., Inc.		4,935
	64	Aqua America, Inc.		2,685
				7,620
		Total Common Stocks (Identified Cost $1,691,472)		1,732,760
Principal Amount
	Bonds and Notes — 18.3%
		Agency Commercial Mortgage-Backed Securities — 0.2%
$	10,000	FHLMC Multifamily Structured Pass Through Certificates, Series K012, Class A2, 4.185%, 12/25/2020(b)		10,221
		Automotive — 0.3%
$	8,000	General Motors Financial Co., Inc., 4.350%, 1/17/2027	$	8,193
	8,000	Toyota Motor Credit Corp., MTN, 2.600%, 1/11/2022		8,074
				16,267
		Banking — 2.8%
	8,000	American Express Co., 3.700%, 8/03/2023		8,355
	8,000	Bank of America Corp., (fixed rate to 1/20/2022, variable rate thereafter), MTN, 3.124%, 1/20/2023		8,117
	8,000	Bank of Montreal, MTN, 1.900%, 8/27/2021		7,948
	8,000	Bank of New York Mellon Corp. (The), Series 10YR, MTN, 3.650%, 2/04/2024		8,433
	9,000	BNP Paribas S.A., MTN, 3.250%, 3/03/2023		9,286
	9,000	Capital One Financial Corp., 3.300%, 10/30/2024		9,318
	8,000	Citigroup, Inc., 4.600%, 3/09/2026		8,643
	4,000	Deutsche Bank AG, GMTN, 3.375%, 5/12/2021		3,982
	8,000	Goldman Sachs Group, Inc. (The), 3.750%, 5/22/2025		8,356
	8,000	HSBC Holdings PLC, 5.100%, 4/05/2021		8,349
	8,000	JPMorgan Chase & Co., (fixed rate to 3/01/2024, variable rate thereafter), 3.220%, 3/01/2025		8,211
	8,000	Morgan Stanley, Series F, 3.875%, 4/29/2024		8,450
	8,000	Royal Bank of Canada, GMTN, 2.150%, 3/06/2020		7,992
	8,000	Santander UK PLC, 2.375%, 3/16/2020		7,994
	8,000	SunTrust Bank, 2.250%, 1/31/2020		7,991
	8,000	Wells Fargo & Co., MTN, 3.000%, 2/19/2025		8,147
	9,000	Westpac Banking Corp., 2.750%, 1/11/2023		9,108
				138,680
		Cable Satellite — 0.2%
	8,000	Comcast Corp., 3.000%, 2/01/2024		8,211
		Construction Machinery — 0.2%
	8,000	John Deere Capital Corp., MTN, 2.650%, 1/06/2022		8,080
		Consumer Cyclical Services — 0.2%
	8,000	eBay, Inc., 3.800%, 3/09/2022		8,254
		Electric — 0.4%
	9,000	Duke Energy Corp., 3.750%, 4/15/2024		9,455
	9,000	Virginia Electric & Power Co., Series A, 3.150%, 1/15/2026		9,323
				18,778
		Financial Other — 0.2%
	8,000	ORIX Corp., 2.900%, 7/18/2022		8,130
		Food & Beverage — 0.2%
	9,000	General Mills, Inc., 4.000%, 4/17/2025		9,552
		Government Owned – No Guarantee — 0.6%
	20,000	Federal National Mortgage Association, 6.625%, 11/15/2030		28,493
		Health Insurance — 0.3%
	8,000	Anthem, Inc., 4.101%, 3/01/2028		8,509
	6,000	UnitedHealth Group, Inc., 5.800%, 3/15/2036		7,795
				16,304
		Healthcare — 0.5%
	8,000	CVS Health Corp., 3.875%, 7/20/2025		8,349
	8,000	Express Scripts Holding Co., 4.500%, 2/25/2026		8,652
	8,000	McKesson Corp., 3.950%, 2/16/2028		8,303
				25,304
		Independent Energy — 0.2%
	8,000	EQT Corp., 3.000%, 10/01/2022		7,782
		Integrated Energy — 0.5%
	8,000	BP Capital Markets PLC, 3.814%, 2/10/2024		8,452
	8,000	Chevron Corp., 1.961%, 3/03/2020		7,991
	6,000	Shell International Finance BV, 6.375%, 12/15/2038		8,588
				25,031

See accompanying notes to financial statements.

23 ��|

Portfolio of Investments – as of July 31, 2019 (Unaudited)

Natixis Sustainable Future 2020 Fund – (continued)

Principal Amount		Description	Value (†)
		Life Insurance — 0.2%
$	8,000	American International Group, Inc., 3.900%, 4/01/2026	$	8,440
		Media Entertainment — 0.2%
	8,000	Viacom, Inc., 6.875%, 4/30/2036		10,135
		Midstream — 0.5%
	9,000	Energy Transfer Operating LP, 4.050%, 3/15/2025		9,365
	8,000	Enterprise Products Operating LLC, 2.550%, 10/15/2019		7,999
	8,000	Kinder Morgan Energy Partners LP, 4.150%, 2/01/2024		8,436
				25,800
		Mortgage Related — 3.9%
	68,424	FNMA, 3.000%, with various maturities from 2034 to 2049(c)		69,350
	78,099	FNMA, 3.500%, 6/01/2049		80,055
	27,214	FNMA, 4.000%, 2/01/2049		28,161
	14,605	FNMA, 4.500%, 5/01/2049		15,319
				192,885
		Oil Field Services — 0.2%
	8,000	Baker Hughes a GE Co. LLC/Baker HughesCo-Obligor, Inc., 2.773%, 12/15/2022		8,064
		Pharmaceuticals — 0.3%
	8,000	AbbVie, Inc., 3.600%, 5/14/2025		8,251
	8,000	Amgen, Inc., 2.650%, 5/11/2022		8,047
				16,298
		Railroads — 0.2%
	8,000	CSX Corp., 2.600%, 11/01/2026		7,989
		REITs – Office Property — 0.1%
	5,000	Boston Properties LP, 2.750%, 10/01/2026		4,970
		Restaurants — 0.2%
	8,000	Starbucks Corp., 3.800%, 8/15/2025		8,501
		Technology — 0.9%
	9,000	Apple, Inc., 2.500%, 2/09/2025		9,075
	8,000	International Business Machines Corp., 4.000%, 6/20/2042		8,429
	8,000	Oracle Corp., 2.950%, 5/15/2025		8,208
	8,000	QUALCOMM, Inc., 3.450%, 5/20/2025		8,332
	9,000	VMware, Inc., 2.950%, 8/21/2022		9,067
				43,111
		Treasuries — 4.3%
	8,000	U.S. Treasury Bond, 2.500%, 5/15/2046		7,953
	17,000	U.S. Treasury Bond, 2.875%, 11/15/2046		18,179
	29,000	U.S. Treasury Bond, 3.000%, 5/15/2045		31,689
	8,000	U.S. Treasury Bond, 3.000%, 2/15/2048		8,759
	8,000	U.S. Treasury Bond, 3.000%, 2/15/2049		8,780
	6,000	U.S. Treasury Bond, 4.250%, 11/15/2040		7,863
	6,000	U.S. Treasury Bond, 4.375%, 5/15/2041		8,003
	18,000	U.S. Treasury Bond, 5.250%, 2/15/2029		23,048
	18,000	U.S. Treasury Note, 1.125%, 4/30/2020		17,868
	12,000	U.S. Treasury Note, 1.125%, 9/30/2021		11,807
	14,000	U.S. Treasury Note, 1.625%, 8/31/2022		13,902
	8,000	U.S. Treasury Note, 1.750%, 5/15/2023		7,968
	6,000	U.S. Treasury Note, 2.000%, 11/15/2026		6,023
	11,000	U.S. Treasury Note, 2.125%, 12/31/2022		11,101
	3,000	U.S. Treasury Note, 2.250%, 11/15/2025		3,060
	9,000	U.S. Treasury Note, 2.250%, 11/15/2027		9,183
	8,000	U.S. Treasury Note, 2.625%, 2/15/2029		8,417
	9,000	U.S. Treasury Note, 2.875%, 9/30/2023		9,365
				212,968
		Wireless — 0.2%
	8,000	Vodafone Group PLC, 6.150%, 2/27/2037		9,808
		Wirelines — 0.3%
$	8,000	AT&T, Inc., 3.400%, 5/15/2025	$	8,229
	8,000	AT&T, Inc., 3.875%, 1/15/2026		8,421
				16,650
		Total Bonds and Notes (Identified Cost $875,473)		894,706
Shares
	Exchange-Traded Funds — 8.2%
	4,538	iShares® ESG MSCI EAFE ETF		286,484
	3,402	iShares® ESG MSCI Emerging Markets ETF		113,389
		Total Exchange-Traded Funds (Identified Cost $388,682)		399,873
	Affiliated Mutual Funds — 36.5%
	34,241	Loomis Sayles Inflation Protected Securities Fund, Class N		361,243
	42,805	Loomis Sayles Limited Term Government and Agency Fund, Class N		484,981
	46,977	Mirova Global Green Bond Fund, Class N		496,077
	39,805	Mirova International Sustainable Equity Fund, Class N		446,214
		Total Affiliated Mutual Funds (Identified Cost $1,754,582)		1,788,515
		Total Investments — 98.4% (Identified Cost $4,710,209)		4,815,854
		Other assets less liabilities — 1.6%		77,657
		Net Assets — 100.0%	$	4,893,511
	(†)	See Note 2 of Notes to Financial Statements.
	(a)	Non-income producing security.
	(b)	Variable rate security. The interest rate adjusts periodically based on; (i) changes in current interest rates and/or prepayments on underlying pools of assets, if applicable, (ii) reference to a base lending rate plus or minus a margin, and/or (iii) reference to a base lending rate adjusted by a multiplier and/or subject to certain floors or caps. Rate as of July 31, 2019 is disclosed.
	(c)	The Fund’s investment in mortgage related securities of Federal National Mortgage Association are interests in separate pools of mortgages. All separate investments in securities of each issuer which have the same coupon rate have been aggregated for the purpose of presentation in the Portfolio of Investments.
	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.
	ETF	Exchange-Traded Fund
	FHLMC	Federal Home Loan Mortgage Corp.
	FNMA	Federal National Mortgage Association
	GMTN	Global Medium Term Note
	MTN	Medium Term Note
	REITs	Real Estate Investment Trusts

Asset Allocation Summary at July 31, 2019 (Unaudited)

Equity	52.7	%
Fixed Income	45.7
Total Investments	98.4
Other assets less liabilities	1.6
Net Assets	100.0	%

See accompanying notes to financial statements.

|  24

Portfolio of Investments – as of July 31, 2019 (Unaudited)

Natixis Sustainable Future 2025 Fund

Shares		Description	Value (†)
	Common Stocks — 41.4% of Net Assets
		Aerospace & Defense — 0.3%
	16	Axon Enterprise, Inc.(a)	$	1,124
	22	Moog, Inc., Class A		1,792
	3	Raytheon Co.		547
	12	Teledyne Technologies, Inc.(a)		3,495
	30	United Technologies Corp.		4,008
				10,966
		Air Freight & Logistics — 0.6%
	233	Expeditors International of Washington, Inc.		17,789
	32	FedEx Corp.		5,457
	34	United Parcel Service, Inc., Class B		4,062
				27,308
		Airlines — 0.2%
	233	American Airlines Group, Inc.		7,109
		Auto Components — 0.3%
	98	American Axle & Manufacturing Holdings, Inc.(a)		1,183
	70	Aptiv PLC		6,136
	14	BorgWarner, Inc.		529
	105	Delphi Technologies PLC		1,968
	21	Visteon Corp.(a)		1,383
				11,199
		Automobiles — 0.5%
	766	Fiat Chrysler Automobiles NV		10,103
	267	General Motors Co.		10,771
				20,874
		Banks — 2.7%
	57	Ameris Bancorp		2,267
	108	BancorpSouth Bank		3,228
	606	Bank of America Corp.		18,592
	91	BB&T Corp.		4,689
	278	Citigroup, Inc.		19,783
	119	Citizens Financial Group, Inc.		4,434
	82	Columbia Banking System, Inc.		3,092
	7	Comerica, Inc.		512
	208	CVB Financial Corp.		4,578
	180	Fulton Financial Corp.		3,060
	102	Huntington Bancshares, Inc.		1,454
	96	International Bancshares Corp.		3,612
	186	KeyCorp		3,417
	17	M&T Bank Corp.		2,792
	320	People’s United Financial, Inc.		5,254
	58	PNC Financial Services Group, Inc. (The)		8,288
	105	Regions Financial Corp.		1,673
	148	Trustmark Corp.		5,260
	227	Wells Fargo & Co.		10,989
	52	Westamerica Bancorporation		3,333
	40	Wintrust Financial Corp.		2,862
	50	Zions Bancorp N.A.		2,254
				115,423
		Beverages — 1.3%
	38	Brown-Forman Corp., Class B		2,083
	285	Coca-Cola Co. (The)		15,000
	47	Constellation Brands, Inc., Class A		9,251
	352	Monster Beverage Corp.(a)		22,693
	35	PepsiCo, Inc.		4,473
				53,500
		Biotechnology — 1.3%
	18	AbbVie, Inc.		1,199
	50	Amgen, Inc.		9,329
	6	Biogen, Inc.(a)		1,427
		Biotechnology — continued
	92	BioMarin Pharmaceutical, Inc.(a)	$	7,298
	17	Celgene Corp.(a)		1,562
	41	Gilead Sciences, Inc.		2,686
	14	Ligand Pharmaceuticals, Inc.(a)		1,281
	49	Medicines Co. (The)(a)		1,756
	78	Regeneron Pharmaceuticals, Inc.(a)		23,771
	27	Repligen Corp.(a)		2,549
	2	Vertex Pharmaceuticals, Inc.(a)		333
				53,191
		Building Products — 0.3%
	165	Johnson Controls International PLC		7,003
	15	Lennox International, Inc.		3,847
				10,850
		Capital Markets — 3.0%
	3	Affiliated Managers Group, Inc.		257
	8	Ameriprise Financial, Inc.		1,164
	319	Bank of New York Mellon Corp. (The)		14,968
	10	BlackRock, Inc.		4,677
	318	Charles Schwab Corp. (The)		13,744
	14	CME Group, Inc.		2,722
	41	FactSet Research Systems, Inc.		11,369
	60	Franklin Resources, Inc.		1,958
	35	Goldman Sachs Group, Inc. (The)		7,705
	10	Intercontinental Exchange, Inc.		879
	48	Invesco Ltd.		921
	73	Janus Henderson Group PLC		1,465
	84	Legg Mason, Inc.		3,164
	57	Moody’s Corp.		12,217
	51	MSCI, Inc.		11,589
	36	Northern Trust Corp.		3,528
	32	S&P Global, Inc.		7,838
	199	SEI Investments Co.		11,858
	234	State Street Corp.		13,593
				125,616
		Chemicals — 0.5%
	23	Ecolab, Inc.		4,640
	39	HB Fuller Co.		1,865
	30	Innospec, Inc.		2,801
	5	International Flavors & Fragrances, Inc.		720
	37	Linde PLC		7,077
	33	Minerals Technologies, Inc.		1,757
	19	Stepan Co.		1,884
				20,744
		Commercial Services & Supplies — 0.2%
	37	Healthcare Services Group, Inc.		885
	20	MSA Safety, Inc.		2,107
	32	Tetra Tech, Inc.		2,534
	19	Waste Management, Inc.		2,223
				7,749
		Communications Equipment — 0.6%
	48	Ciena Corp.(a)		2,170
	333	Cisco Systems, Inc.		18,448
	27	InterDigital, Inc.		1,740
	27	Lumentum Holdings, Inc.(a)		1,529
	8	Motorola Solutions, Inc.		1,328
				25,215
		Construction & Engineering — 0.1%
	96	AECOM(a)		3,451
		Consumer Finance — 0.7%
	78	American Express Co.		9,701

See accompanying notes to financial statements.

25  |

Portfolio of Investments – as of July 31, 2019 (Unaudited)

Natixis Sustainable Future 2025 Fund – (continued)

Shares		Description	Value (†)
		Consumer Finance — continued
	189	Capital One Financial Corp.	$	17,467
	46	Navient Corp.		651
				27,819
		Containers & Packaging — 0.2%
	48	Ball Corp.		3,431
	12	Crown Holdings, Inc.(a)		768
	32	International Paper Co.		1,405
	84	Owens-Illinois, Inc.		1,426
				7,030
		Distributors — 0.1%
	26	Genuine Parts Co.		2,525
	14	POOL CORP.		2,651
				5,176
		Diversified Consumer Services — 0.1%
	64	Service Corp. International		2,953
		Diversified Telecommunication Services — 0.1%
	75	AT&T, Inc.		2,554
	39	Verizon Communications, Inc.		2,155
				4,709
		Electric Utilities — 0.3%
	87	American Electric Power Co., Inc.		7,639
	11	Edison International		820
	14	Eversource Energy		1,062
	27	IDACORP, Inc.		2,756
				12,277
		Electrical Equipment — 0.1%
	11	Acuity Brands, Inc.		1,476
	30	Eaton Corp. PLC		2,466
	18	Hubbell, Inc.		2,338
				6,280
		Electronic Equipment, Instruments & Components — 0.7%
	51	Avnet, Inc.		2,316
	22	Belden, Inc.		1,000
	52	Cognex Corp.		2,288
	12	Coherent, Inc.(a)		1,666
	11	Littelfuse, Inc.		1,858
	10	Rogers Corp.(a)		1,587
	134	TE Connectivity Ltd.		12,382
	65	Trimble, Inc.(a)		2,747
	92	Vishay Intertechnology, Inc.		1,564
	13	Zebra Technologies Corp., Class A(a)		2,742
				30,150
		Energy Equipment & Services — 0.5%
	33	Apergy Corp.(a)		1,073
	40	Baker Hughes, a GE Co.		1,016
	61	C&J Energy Services, Inc.(a)		667
	18	Core Laboratories NV		903
	164	Halliburton Co.		3,772
	56	National Oilwell Varco, Inc.		1,334
	56	Oceaneering International, Inc.(a)		865
	50	Oil States International, Inc.(a)		746
	254	Schlumberger Ltd.		10,152
	38	TechnipFMC PLC		1,047
	94	U.S. Silica Holdings, Inc.		1,303
				22,878
		Entertainment — 0.8%
	25	Activision Blizzard, Inc.		1,219
	44	Cinemark Holdings, Inc.		1,756
	10	Electronic Arts, Inc.(a)		925
		Entertainment — continued
	52	Netflix, Inc.(a)	$	16,795
	4	Take-Two Interactive Software, Inc.(a)		490
	13	Viacom, Inc., Class B		395
	97	Walt Disney Co. (The)		13,872
				35,452
		Food & Staples Retailing — 0.1%
	62	Kroger Co. (The)		1,312
	173	SpartanNash Co.		2,045
	12	Sysco Corp.		823
	17	Walgreens Boots Alliance, Inc.		926
				5,106
		Food Products — 0.5%
	47	Campbell Soup Co.		1,943
	588	Danone S.A., Sponsored ADR		10,125
	16	General Mills, Inc.		850
	55	Hain Celestial Group, Inc. (The)(a)		1,197
	3	Hershey Co. (The)		455
	18	Ingredion, Inc.		1,391
	10	J.M. Smucker Co. (The)		1,112
	14	Kellogg Co.		815
	50	Kraft Heinz Co. (The)		1,601
	9	Mondelez International, Inc., Class A		482
				19,971
		Gas Utilities — 0.2%
	58	New Jersey Resources Corp.		2,892
	32	ONE Gas, Inc.		2,918
	60	South Jersey Industries, Inc.		2,043
				7,853
		Health Care Equipment & Supplies — 0.6%
	13	Alcon, Inc.(a)		764
	5	Align Technology, Inc.(a)		1,045
	2	Becton Dickinson and Co.		506
	10	Boston Scientific Corp.(a)		425
	4	Danaher Corp.		562
	10	DENTSPLY SIRONA, Inc.		544
	2	Edwards Lifesciences Corp.(a)		426
	30	Globus Medical, Inc.(a)		1,367
	14	Haemonetics Corp.(a)		1,709
	1	Intuitive Surgical, Inc.(a)		519
	113	Meridian Bioscience, Inc.		1,350
	23	Merit Medical Systems, Inc.(a)		908
	31	STERIS PLC		4,615
	2	Stryker Corp.		420
	59	Varian Medical Systems, Inc.(a)		6,925
	19	West Pharmaceutical Services, Inc.		2,608
				24,693
		Health Care Providers & Services — 1.0%
	31	Acadia Healthcare Co., Inc.(a)		990
	10	Amedisys, Inc.(a)		1,379
	3	Anthem, Inc.		884
	25	BioTelemetry, Inc.(a)		1,174
	59	Centene Corp.(a)		3,073
	7	Chemed Corp.		2,838
	6	Cigna Corp.		1,020
	215	CVS Health Corp.		12,012
	30	Encompass Health Corp.		1,915
	49	HCA Healthcare, Inc.		6,542
	22	Henry Schein, Inc.(a)		1,464
	4	Humana, Inc.		1,187
	10	Laboratory Corp. of America Holdings(a)		1,675
	32	MEDNAX, Inc.(a)		786

See accompanying notes to financial statements.

|  26

Portfolio of Investments – as of July 31, 2019 (Unaudited)

Natixis Sustainable Future 2025 Fund – (continued)

Shares		Description	Value (†)
		Health Care Providers & Services — continued
	51	Patterson Cos., Inc.	$	1,010
	16	Quest Diagnostics, Inc.		1,633
	14	UnitedHealth Group, Inc.		3,486
				43,068
		Health Care Technology — 0.4%
	108	Allscripts Healthcare Solutions, Inc.(a)		1,112
	167	Cerner Corp.		11,966
	25	Medidata Solutions, Inc.(a)		2,284
				15,362
		Hotels, Restaurants & Leisure — 1.7%
	9	Domino’s Pizza, Inc.		2,201
	30	Dunkin’ Brands Group, Inc.		2,405
	78	Hilton Worldwide Holdings, Inc.		7,531
	18	Jack in the Box, Inc.		1,293
	19	Marriott Vacations Worldwide Corp.		1,942
	4	McDonald’s Corp.		843
	350	MGM Resorts International		10,507
	28	Six Flags Entertainment Corp.		1,479
	208	Starbucks Corp.		19,695
	103	Wendy’s Co. (The)		1,874
	343	Yum China Holdings, Inc.		15,606
	69	Yum! Brands, Inc.		7,764
				73,140
		Household Durables — 0.2%
	11	iRobot Corp.(a)		804
	82	KB Home		2,154
	62	Meritage Homes Corp.(a)		3,894
	40	Tupperware Brands Corp.		613
				7,465
		Household Products — 0.7%
	130	Colgate-Palmolive Co.		9,326
	161	Procter & Gamble Co. (The)		19,005
				28,331
		Independent Power & Renewable Electricity Producers — 0.2%
	54	AES Corp. (The)		907
	61	Ormat Technologies, Inc.		3,998
	143	Pattern Energy Group, Inc.		3,279
				8,184
		Industrial Conglomerates — 0.3%
	1,188	General Electric Co.		12,415
		Insurance — 0.9%
	10	Aflac, Inc.		526
	28	Allstate Corp. (The)		3,007
	237	American International Group, Inc.		13,270
	9	Brighthouse Financial, Inc.(a)		353
	47	Chubb Ltd.		7,183
	50	First American Financial Corp.		2,891
	19	Hartford Financial Services Group, Inc. (The)		1,095
	12	Lincoln National Corp.		784
	19	Marsh & McLennan Cos., Inc.		1,877
	19	MetLife, Inc.		939
	51	Prudential Financial, Inc.		5,167
	21	Travelers Cos., Inc. (The)		3,079
				40,171
		Interactive Media & Services — 2.0%
	11	Alphabet, Inc., Class A(a)		13,400
	27	Alphabet, Inc., Class C(a)		32,850
	193	Facebook, Inc., Class A(a)		37,487
	7	TripAdvisor, Inc.(a)		309
				84,046
		Internet & Direct Marketing Retail — 2.0%
	146	Alibaba Group Holding Ltd., Sponsored ADR(a)	$	25,274
	19	Amazon.com, Inc.(a)		35,469
	8	Booking Holdings, Inc.(a)		15,093
	232	eBay, Inc.		9,556
				85,392
		IT Services — 2.2%
	73	Automatic Data Processing, Inc.		12,156
	9	Cognizant Technology Solutions Corp., Class A		586
	126	DXC Technology Co.		7,027
	51	Gartner, Inc.(a)		7,106
	10	International Business Machines Corp.		1,482
	39	Leidos Holdings, Inc.		3,202
	46	MasterCard, Inc., Class A		12,524
	14	PayPal Holdings, Inc.(a)		1,546
	147	Sabre Corp.		3,456
	217	Visa, Inc., Class A		38,626
	42	Western Union Co. (The)		882
	15	WEX, Inc.(a)		3,271
				91,864
		Leisure Products — 0.0%
	66	Callaway Golf Co.		1,210
		Life Sciences Tools & Services — 0.1%
	1	Illumina, Inc.(a)		299
	8	IQVIA Holdings, Inc.(a)		1,273
	8	Thermo Fisher Scientific, Inc.		2,222
				3,794
		Machinery — 1.7%
	36	AGCO Corp.		2,772
	87	Caterpillar, Inc.		11,455
	53	Cummins, Inc.		8,692
	88	Deere & Co.		14,577
	38	Flowserve Corp.		1,901
	27	IDEX Corp.		4,542
	48	ITT, Inc.		2,996
	58	Kennametal, Inc.		2,006
	38	Oshkosh Corp.		3,176
	81	Parker Hannifin Corp.		14,182
	11	Proto Labs, Inc.(a)		1,145
	48	Terex Corp.		1,462
	42	Toro Co. (The)		3,058
	8	Xylem, Inc.		642
				72,606
		Media — 0.8%
	2	Cable One, Inc.		2,434
	21	CBS Corp., Class B		1,082
	33	Charter Communications, Inc., Class A(a)		12,717
	293	Comcast Corp., Class A		12,649
	31	Discovery, Inc., Series C(a)		875
	17	Interpublic Group of Cos., Inc. (The)		390
	49	New York Times Co. (The), Class A		1,748
	88	News Corp., Class A		1,158
	23	Omnicom Group, Inc.		1,845
				34,898
		Metals & Mining — 0.3%
	87	Commercial Metals Co.		1,523
	94	Newmont Goldcorp Corp.		3,433
	11	Nucor Corp.		598
	37	Reliance Steel & Aluminum Co.		3,698
	24	Royal Gold, Inc.		2,747
				11,999

See accompanying notes to financial statements.

27  |

Portfolio of Investments – as of July 31, 2019 (Unaudited)

Natixis Sustainable Future 2025 Fund – (continued)

Shares		Description	Value (†)
		Multi-Utilities — 0.2%
	51	Consolidated Edison, Inc.	$	4,333
	9	DTE Energy Co.		1,144
	13	Sempra Energy		1,761
				7,238
		Multiline Retail — 0.0%
	10	Macy’s, Inc.		227
	12	Target Corp.		1,037
				1,264
		Oil, Gas & Consumable Fuels — 0.9%
	300	Apache Corp.		7,326
	1,687	Chesapeake Energy Corp.(a)		3,054
	57	Concho Resources, Inc.		5,568
	593	Denbury Resources, Inc.(a)		670
	51	Diamondback Energy, Inc.		5,275
	57	EOG Resources, Inc.		4,893
	85	EQT Corp.		1,284
	70	Green Plains, Inc.		706
	42	Hess Corp.		2,723
	95	Noble Energy, Inc.		2,098
	34	ONEOK, Inc.		2,383
	25	Valero Energy Corp.		2,131
	46	World Fuel Services Corp.		1,796
				39,907
		Paper & Forest Products — 0.1%
	34	Domtar Corp.		1,443
	64	Louisiana-Pacific Corp.		1,673
				3,116
		Personal Products — 0.0%
	4	Estee Lauder Cos., Inc. (The), Class A		737
		Pharmaceuticals — 0.8%
	3	Allergan PLC		482
	19	Bristol-Myers Squibb Co.		844
	44	Catalent, Inc.(a)		2,486
	16	Eli Lilly & Co.		1,743
	75	Merck & Co., Inc.		6,224
	67	Novartis AG, Sponsored ADR		6,136
	233	Novo Nordisk AS, Sponsored ADR		11,165
	13	Perrigo Co. PLC		702
	86	Pfizer, Inc.		3,340
				33,122
		Professional Services — 0.2%
	36	Exponent, Inc.		2,477
	13	Insperity, Inc.		1,383
	37	Korn Ferry		1,453
	22	ManpowerGroup, Inc.		2,010
	22	Nielsen Holdings PLC		509
				7,832
		Real Estate Management & Development — 0.1%
	16	CBRE Group, Inc., Class A(a)		848
	20	Jones Lang LaSalle, Inc.		2,914
				3,762
		REITs – Apartments — 0.3%
	70	American Campus Communities, Inc.		3,273
	3	AvalonBay Communities, Inc.		626
	47	Camden Property Trust		4,875
	9	Equity Residential		710
	5	Essex Property Trust, Inc.		1,511
	4	Mid-America Apartment Communities, Inc.		471
				11,466
		REITs – Diversified — 0.1%
	6	Crown Castle International Corp.	$	800
	9	Digital Realty Trust, Inc.		1,029
	2	Equinix, Inc.		1,004
	59	Weyerhaeuser Co.		1,499
				4,332
		REITs – Health Care — 0.1%
	22	Ventas, Inc.		1,480
	46	Welltower, Inc.		3,824
				5,304
		REITs – Hotels — 0.0%
	81	Host Hotels & Resorts, Inc.		1,409
		REITs – Office Property — 0.4%
	9	Boston Properties, Inc.		1,196
	105	Corporate Office Properties Trust		2,932
	119	Douglas Emmett, Inc.		4,858
	152	Easterly Government Properties, Inc.		2,868
	53	Kilroy Realty Corp.		4,211
				16,065
		REITs – Regional Malls — 0.0%
	6	Macerich Co. (The)		198
	9	Simon Property Group, Inc.		1,460
				1,658
		REITs – Storage — 0.0%
	27	Iron Mountain, Inc.		794
	2	Public Storage		486
				1,280
		REITs – Warehouse/Industrials — 0.1%
	34	CyrusOne, Inc.		1,952
	87	Liberty Property Trust		4,550
				6,502
		Road & Rail — 0.4%
	29	Genesee & Wyoming, Inc., Class A(a)		3,184
	19	Kansas City Southern		2,351
	27	Norfolk Southern Corp.		5,160
	29	Ryder System, Inc.		1,545
	21	Union Pacific Corp.		3,779
				16,019
		Semiconductors & Semiconductor Equipment — 1.7%
	14	Advanced Micro Devices, Inc.(a)		426
	59	Applied Materials, Inc.		2,913
	38	Brooks Automation, Inc.		1,474
	21	Cabot Microelectronics Corp.		2,555
	40	Cirrus Logic, Inc.(a)		1,962
	28	Cree, Inc.(a)		1,741
	71	First Solar, Inc.(a)		4,579
	238	Intel Corp.		12,031
	6	Lam Research Corp.		1,252
	7	Microchip Technology, Inc.		661
	87	NVIDIA Corp.		14,679
	188	QUALCOMM, Inc.		13,754
	31	Silicon Laboratories, Inc.(a)		3,478
	78	Texas Instruments, Inc.		9,751
				71,256
		Software — 1.9%
	7	Adobe, Inc.(a)		2,092
	133	Autodesk, Inc.(a)		20,771
	24	Blackbaud, Inc.		2,184
	31	Bottomline Technologies, Inc.(a)		1,305
	11	Fair Isaac Corp.(a)		3,822

See accompanying notes to financial statements.

|  28

Portfolio of Investments – as of July 31, 2019 (Unaudited)

Natixis Sustainable Future 2025 Fund – (continued)

Shares		Description	Value (†)
		Software — continued
	17	LogMeIn, Inc.	$	1,291
	124	Microsoft Corp.		16,897
	457	Oracle Corp.		25,729
	27	PTC, Inc.(a)		1,830
	21	Qualys, Inc.(a)		1,818
	2	salesforce.com, inc.(a)		309
	27	Symantec Corp.		582
				78,630
		Specialty Retail — 0.5%
	24	Aaron’s, Inc.		1,513
	71	American Eagle Outfitters, Inc.		1,256
	26	Asbury Automotive Group, Inc.(a)		2,394
	8	Best Buy Co., Inc.		612
	12	Five Below, Inc.(a)		1,409
	30	Home Depot, Inc. (The)		6,411
	17	Lithia Motors, Inc., Class A		2,242
	17	Lowe’s Cos., Inc.		1,724
	19	Monro, Inc.		1,600
	10	Tiffany & Co.		939
	26	Williams-Sonoma, Inc.		1,734
				21,834
		Technology Hardware, Storage & Peripherals — 1.2%
	187	Apple, Inc.		39,839
	201	Hewlett Packard Enterprise Co.		2,888
	134	HP, Inc.		2,819
	63	NCR Corp.(a)		2,130
	14	NetApp, Inc.		819
	19	Seagate Technology PLC		880
	8	Western Digital Corp.		431
	34	Xerox Corp.		1,092
				50,898
		Textiles, Apparel & Luxury Goods — 0.5%
	15	Deckers Outdoor Corp.(a)		2,344
	16	Hanesbrands, Inc.		257
	20	NIKE, Inc., Class B		1,721
	4	PVH Corp.		356
	630	Under Armour, Inc., Class A(a)		14,534
	58	Wolverine World Wide, Inc.		1,575
				20,787
		Thrifts & Mortgage Finance — 0.1%
	220	New York Community Bancorp, Inc.		2,537
		Trading Companies & Distributors — 0.2%
	70	Fastenal Co.		2,156
	20	GATX Corp.		1,537
	11	United Rentals, Inc.(a)		1,392
	8	W.W. Grainger, Inc.		2,328
				7,413
		Water Utilities — 0.2%
	46	American Water Works Co., Inc.		5,280
	62	Aqua America, Inc.		2,601
				7,881
		Total Common Stocks (Identified Cost $1,697,767)		1,741,736
Principal Amount		Description	Value (†)
	Bonds and Notes — 15.6%
		Agency Commercial Mortgage-Backed Securities — 0.2%
$	6,000	FHLMC Multifamily Structured Pass Through Certificates, Series K012, Class A2, 4.185%, 12/25/2020(b)	$	6,133
		Automotive — 0.3%
	6,000	General Motors Financial Co., Inc., 4.350%, 1/17/2027		6,145
	6,000	Toyota Motor Credit Corp., MTN, 2.600%, 1/11/2022		6,055
				12,200
		Banking — 2.4%
	6,000	American Express Co., 3.700%, 8/03/2023		6,266
	6,000	Bank of America Corp., (fixed rate to 1/20/2022, variable rate thereafter), MTN, 3.124%, 1/20/2023		6,088
	6,000	Bank of Montreal, MTN, 1.900%, 8/27/2021		5,961
	6,000	Bank of New York Mellon Corp. (The), Series 10YR, MTN, 3.650%, 2/04/2024		6,325
	6,000	BNP Paribas S.A., MTN, 3.250%, 3/03/2023		6,191
	6,000	Capital One Financial Corp., 3.300%, 10/30/2024		6,212
	6,000	Citigroup, Inc., 4.600%, 3/09/2026		6,482
	3,000	Deutsche Bank AG, GMTN, 3.375%, 5/12/2021		2,986
	6,000	Goldman Sachs Group, Inc. (The), 3.750%, 5/22/2025		6,267
	6,000	HSBC Holdings PLC, 5.100%, 4/05/2021		6,262
	6,000	JPMorgan Chase & Co., (fixed rate to 3/01/2024, variable rate thereafter), 3.220%, 3/01/2025		6,158
	6,000	Morgan Stanley, Series F, 3.875%, 4/29/2024		6,338
	6,000	Royal Bank of Canada, GMTN, 2.150%, 3/06/2020		5,994
	6,000	Santander UK PLC, 2.375%, 3/16/2020		5,996
	6,000	SunTrust Bank, 2.250%, 1/31/2020		5,993
	6,000	Wells Fargo & Co., MTN, 3.000%, 2/19/2025		6,110
	6,000	Westpac Banking Corp., 2.750%, 1/11/2023		6,072
				101,701
		Cable Satellite — 0.2%
	6,000	Comcast Corp., 3.000%, 2/01/2024		6,158
		Construction Machinery — 0.1%
	6,000	John Deere Capital Corp., MTN, 2.650%, 1/06/2022		6,060
		Consumer Cyclical Services — 0.2%
	6,000	eBay, Inc., 3.800%, 3/09/2022		6,191
		Electric — 0.3%
	6,000	Duke Energy Corp., 3.750%, 4/15/2024		6,304
	5,000	Virginia Electric & Power Co., Series A, 3.150%, 1/15/2026		5,179
				11,483
		Financial Other — 0.1%
	6,000	ORIX Corp., 2.900%, 7/18/2022		6,097
		Food & Beverage — 0.2%
	6,000	General Mills, Inc., 4.000%, 4/17/2025		6,368
		Government Owned – No Guarantee — 0.5%
	14,000	Federal National Mortgage Association, 6.625%, 11/15/2030		19,945
		Health Insurance — 0.3%
	6,000	Anthem, Inc., 4.101%, 3/01/2028		6,382
	5,000	UnitedHealth Group, Inc., 5.800%, 3/15/2036		6,496
				12,878
		Healthcare — 0.5%
	6,000	CVS Health Corp., 3.875%, 7/20/2025		6,262
	6,000	Express Scripts Holding Co., 4.500%, 2/25/2026		6,489
	6,000	McKesson Corp., 3.950%, 2/16/2028		6,227
				18,978

See accompanying notes to financial statements.

29  |

Portfolio of Investments – as of July 31, 2019 (Unaudited)

Natixis Sustainable Future 2025 Fund – (continued)

Principal Amount		Description	Value (†)
		Independent Energy — 0.1%
$	6,000	EQT Corp., 3.000%, 10/01/2022	$	5,836
		Integrated Energy — 0.4%
	6,000	BP Capital Markets PLC, 3.814%, 2/10/2024		6,339
	6,000	Chevron Corp., 1.961%, 3/03/2020		5,994
	4,000	Shell International Finance BV, 6.375%, 12/15/2038		5,725
				18,058
		Life Insurance — 0.1%
	5,000	American International Group, Inc., 3.900%, 4/01/2026		5,275
		Media Entertainment — 0.1%
	4,000	Viacom, Inc., 6.875%, 4/30/2036		5,068
		Midstream — 0.5%
	7,000	Energy Transfer Operating LP, 4.050%, 3/15/2025		7,284
	6,000	Enterprise Products Operating LLC, 2.550%, 10/15/2019		5,999
	6,000	Kinder Morgan Energy Partners LP, 4.150%, 2/01/2024		6,327
				19,610
		Mortgage Related — 3.4%
	54,739	FNMA, 3.000%, with various maturities from 2034 to 2049(c)		55,480
	55,898	FNMA, 3.500%, 6/01/2049		57,298
	18,142	FNMA, 4.000%, 2/01/2049		18,774
	11,684	FNMA, 4.500%, 5/01/2049		12,255
				143,807
		Oil Field Services — 0.1%
	6,000	Baker Hughes a GE Co. LLC/Baker HughesCo-Obligor, Inc., 2.773%, 12/15/2022		6,048
		Pharmaceuticals — 0.3%
	6,000	AbbVie, Inc., 3.600%, 5/14/2025		6,188
	6,000	Amgen, Inc., 2.650%, 5/11/2022		6,035
				12,223
		Railroads — 0.1%
	6,000	CSX Corp., 2.600%, 11/01/2026		5,992
		REITs – Office Property — 0.1%
	4,000	Boston Properties LP, 2.750%, 10/01/2026		3,976
		Restaurants — 0.2%
	6,000	Starbucks Corp., 3.800%, 8/15/2025		6,376
		Technology — 0.7%
	6,000	Apple, Inc., 2.500%, 2/09/2025		6,050
	6,000	International Business Machines Corp., 4.000%, 6/20/2042		6,321
	6,000	Oracle Corp., 2.950%, 5/15/2025		6,156
	6,000	QUALCOMM, Inc., 3.450%, 5/20/2025		6,249
	6,000	VMware, Inc., 2.950%, 8/21/2022		6,045
				30,821
		Treasuries — 3.8%
	6,000	U.S. Treasury Bond, 2.500%, 5/15/2046		5,965
	13,000	U.S. Treasury Bond, 2.875%, 11/15/2046		13,902
	21,000	U.S. Treasury Bond, 3.000%, 5/15/2045		22,947
	6,000	U.S. Treasury Bond, 3.000%, 2/15/2048		6,569
	6,000	U.S. Treasury Bond, 3.000%, 2/15/2049		6,585
	4,000	U.S. Treasury Bond, 4.250%, 11/15/2040		5,242
	4,000	U.S. Treasury Bond, 4.375%, 5/15/2041		5,336
	13,000	U.S. Treasury Bond, 5.250%, 2/15/2029		16,646
	13,000	U.S. Treasury Note, 1.125%, 4/30/2020		12,904
	14,000	U.S. Treasury Note, 1.125%, 9/30/2021		13,775
	12,000	U.S. Treasury Note, 1.625%, 8/31/2022		11,916
	5,000	U.S. Treasury Note, 1.750%, 5/15/2023		4,980
	4,000	U.S. Treasury Note, 2.000%, 11/15/2026		4,015
	9,000	U.S. Treasury Note, 2.125%, 12/31/2022		9,083
		Treasuries — continued
$	2,000	U.S. Treasury Note, 2.250%, 11/15/2025	$	2,040
	7,000	U.S. Treasury Note, 2.250%, 11/15/2027		7,142
	6,000	U.S. Treasury Note, 2.625%, 2/15/2029		6,313
	6,000	U.S. Treasury Note, 2.875%, 9/30/2023		6,243
				161,603
		Wireless — 0.1%
	5,000	Vodafone Group PLC, 6.150%, 2/27/2037		6,130
		Wirelines — 0.3%
	6,000	AT&T, Inc., 3.400%, 5/15/2025		6,172
	6,000	AT&T, Inc., 3.875%, 1/15/2026		6,315
				12,487
		Total Bonds and Notes (Identified Cost $643,877)		657,502
Shares
	Exchange-Traded Funds — 10.4%
	4,646	iShares® ESG MSCI EAFE ETF		293,302
	4,273	iShares® ESG MSCI Emerging Markets ETF		142,419
		Total Exchange-Traded Funds (Identified Cost $424,407)		435,721
	Affiliated Mutual Funds — 31.8%
	21,235	Loomis Sayles Inflation Protected Securities Fund, Class N		224,031
	27,483	Loomis Sayles Limited Term Government and Agency Fund, Class N		311,383
	34,405	Mirova Global Green Bond Fund, Class N		363,318
	39,161	Mirova International Sustainable Equity Fund, Class N		438,990
		Total Affiliated Mutual Funds (Identified Cost $1,313,742)		1,337,722
		Total Investments — 99.2% (Identified Cost $4,079,793)		4,172,681
		Other assets less liabilities — 0.8%		34,800
		Net Assets — 100.0%	$	4,207,481
	(†)	See Note 2 of Notes to Financial Statements.
	(a)	Non-income producing security.
	(b)	Variable rate security. The interest rate adjusts periodically based on; (i) changes in current interest rates and/or prepayments on underlying pools of assets, if applicable, (ii) reference to a base lending rate plus or minus a margin, and/or (iii) reference to a base lending rate adjusted by a multiplier and/or subject to certain floors or caps. Rate as of July 31, 2019 is disclosed.
	(c)	The Fund’s investment in mortgage related securities of Federal National Mortgage Association are interests in separate pools of mortgages. All separate investments in securities of each issuer which have the same coupon rate have been aggregated for the purpose of presentation in the Portfolio of Investments.
	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.
	ETF	Exchange-Traded Fund
	FHLMC	Federal Home Loan Mortgage Corp.
	FNMA	Federal National Mortgage Association
	GMTN	Global Medium Term Note
	MTN	Medium Term Note
	REITs	Real Estate Investment Trusts

See accompanying notes to financial statements.

|  30

Portfolio of Investments – as of July 31, 2019 (Unaudited)

Natixis Sustainable Future 2025 Fund – (continued)

Asset Allocation Summary at July 31, 2019 (Unaudited)

Equity	62.2	%
Fixed Income	37.0
Total Investments	99.2
Other assets less liabilities	0.8
Net Assets	100.0	%

See accompanying notes to financial statements.

31  |

Portfolio of Investments – as of July 31, 2019 (Unaudited)

Natixis Sustainable Future 2030 Fund

Shares		Description	Value (†)
	Common Stocks — 48.0% of Net Assets
		Aerospace & Defense — 0.3%
	15	Axon Enterprise, Inc.(a)	$	1,053
	24	Moog, Inc., Class A		1,955
	5	Raytheon Co.		912
	11	Teledyne Technologies, Inc.(a)		3,204
	33	United Technologies Corp.		4,409
				11,533
		Air Freight & Logistics — 0.7%
	222	Expeditors International of Washington, Inc.		16,950
	30	FedEx Corp.		5,116
	35	United Parcel Service, Inc., Class B		4,181
				26,247
		Airlines — 0.2%
	221	American Airlines Group, Inc.		6,743
		Auto Components — 0.3%
	100	American Axle & Manufacturing Holdings, Inc.(a)		1,207
	68	Aptiv PLC		5,960
	14	BorgWarner, Inc.		529
	100	Delphi Technologies PLC		1,874
	19	Visteon Corp.(a)		1,252
				10,822
		Automobiles — 0.6%
	723	Fiat Chrysler Automobiles NV		9,536
	252	General Motors Co.		10,166
				19,702
		Banks — 3.3%
	57	Ameris Bancorp		2,267
	117	BancorpSouth Bank		3,497
	574	Bank of America Corp.		17,610
	103	BB&T Corp.		5,308
	259	Citigroup, Inc.		18,430
	116	Citizens Financial Group, Inc.		4,322
	89	Columbia Banking System, Inc.		3,356
	14	Comerica, Inc.		1,025
	206	CVB Financial Corp.		4,534
	205	Fulton Financial Corp.		3,485
	81	Huntington Bancshares, Inc.		1,154
	94	International Bancshares Corp.		3,537
	175	KeyCorp		3,215
	18	M&T Bank Corp.		2,956
	316	People’s United Financial, Inc.		5,189
	64	PNC Financial Services Group, Inc. (The)		9,146
	116	Regions Financial Corp.		1,848
	146	Trustmark Corp.		5,189
	215	Wells Fargo & Co.		10,408
	56	Westamerica Bancorporation		3,590
	43	Wintrust Financial Corp.		3,076
	39	Zions Bancorp N.A.		1,758
				114,900
		Beverages — 1.5%
	30	Brown-Forman Corp., Class B		1,644
	295	Coca-Cola Co. (The)		15,526
	44	Constellation Brands, Inc., Class A		8,660
	339	Monster Beverage Corp.(a)		21,856
	37	PepsiCo, Inc.		4,729
				52,415
		Biotechnology — 1.5%
	17	AbbVie, Inc.		1,133
	50	Amgen, Inc.		9,329
	5	Biogen, Inc.(a)		1,189
		Biotechnology — continued
	89	BioMarin Pharmaceutical, Inc.(a)	$	7,059
	17	Celgene Corp.(a)		1,562
	42	Gilead Sciences, Inc.		2,752
	14	Ligand Pharmaceuticals, Inc.(a)		1,281
	50	Medicines Co. (The)(a)		1,792
	73	Regeneron Pharmaceuticals, Inc.(a)		22,247
	25	Repligen Corp.(a)		2,360
	2	Vertex Pharmaceuticals, Inc.(a)		333
				51,037
		Building Products — 0.3%
	182	Johnson Controls International PLC		7,724
	15	Lennox International, Inc.		3,847
				11,571
		Capital Markets — 3.4%
	2	Affiliated Managers Group, Inc.		172
	9	Ameriprise Financial, Inc.		1,310
	311	Bank of New York Mellon Corp. (The)		14,592
	9	BlackRock, Inc.		4,209
	299	Charles Schwab Corp. (The)		12,923
	15	CME Group, Inc.		2,916
	40	FactSet Research Systems, Inc.		11,092
	62	Franklin Resources, Inc.		2,023
	33	Goldman Sachs Group, Inc. (The)		7,264
	8	Intercontinental Exchange, Inc.		703
	47	Invesco Ltd.		902
	79	Janus Henderson Group PLC		1,586
	79	Legg Mason, Inc.		2,975
	53	Moody’s Corp.		11,360
	50	MSCI, Inc.		11,362
	37	Northern Trust Corp.		3,626
	30	S&P Global, Inc.		7,348
	191	SEI Investments Co.		11,382
	225	State Street Corp.		13,070
				120,815
		Chemicals — 0.6%
	19	Ecolab, Inc.		3,833
	39	HB Fuller Co.		1,865
	28	Innospec, Inc.		2,615
	4	International Flavors & Fragrances, Inc.		576
	40	Linde PLC		7,651
	33	Minerals Technologies, Inc.		1,757
	21	Stepan Co.		2,082
				20,379
		Commercial Services & Supplies — 0.2%
	35	Healthcare Services Group, Inc.		837
	20	MSA Safety, Inc.		2,107
	34	Tetra Tech, Inc.		2,693
	15	Waste Management, Inc.		1,755
				7,392
		Communications Equipment — 0.7%
	48	Ciena Corp.(a)		2,170
	307	Cisco Systems, Inc.		17,008
	25	InterDigital, Inc.		1,611
	29	Lumentum Holdings, Inc.(a)		1,642
	6	Motorola Solutions, Inc.		996
				23,427
		Construction & Engineering — 0.1%
	95	AECOM(a)		3,415
		Consumer Finance — 0.8%
	81	American Express Co.		10,074

See accompanying notes to financial statements.

|  32

Portfolio of Investments – as of July 31, 2019 (Unaudited)

Natixis Sustainable Future 2030 Fund – (continued)

Shares		Description	Value (†)
		Consumer Finance — continued
	179	Capital One Financial Corp.	$	16,543
	36	Navient Corp.		510
				27,127
		Containers & Packaging — 0.2%
	48	Ball Corp.		3,431
	9	Crown Holdings, Inc.(a)		576
	36	International Paper Co.		1,581
	80	Owens-Illinois, Inc.		1,357
				6,945
		Distributors — 0.2%
	28	Genuine Parts Co.		2,720
	14	POOL CORP.		2,651
				5,371
		Diversified Consumer Services — 0.1%
	69	Service Corp. International		3,184
		Diversified Telecommunication Services — 0.1%
	59	AT&T, Inc.		2,009
	36	Verizon Communications, Inc.		1,990
				3,999
		Electric Utilities — 0.4%
	96	American Electric Power Co., Inc.		8,430
	13	Edison International		969
	15	Eversource Energy		1,138
	27	IDACORP, Inc.		2,755
				13,292
		Electrical Equipment — 0.2%
	11	Acuity Brands, Inc.		1,476
	29	Eaton Corp. PLC		2,384
	21	Hubbell, Inc.		2,727
				6,587
		Electronic Equipment, Instruments & Components — 0.8%
	51	Avnet, Inc.		2,316
	23	Belden, Inc.		1,046
	52	Cognex Corp.		2,288
	12	Coherent, Inc.(a)		1,666
	10	Littelfuse, Inc.		1,690
	9	Rogers Corp.(a)		1,428
	127	TE Connectivity Ltd.		11,735
	71	Trimble, Inc.(a)		3,000
	94	Vishay Intertechnology, Inc.		1,598
	13	Zebra Technologies Corp., Class A(a)		2,742
				29,509
		Energy Equipment & Services — 0.6%
	34	Apergy Corp.(a)		1,106
	30	Baker Hughes, a GE Co.		762
	63	C&J Energy Services, Inc.(a)		689
	18	Core Laboratories NV		903
	155	Halliburton Co.		3,565
	62	National Oilwell Varco, Inc.		1,477
	57	Oceaneering International, Inc.(a)		880
	51	Oil States International, Inc.(a)		761
	258	Schlumberger Ltd.		10,312
	42	TechnipFMC PLC		1,157
	80	U.S. Silica Holdings, Inc.		1,109
				22,721
		Entertainment — 1.0%
	27	Activision Blizzard, Inc.		1,316
	48	Cinemark Holdings, Inc.		1,916
	14	Electronic Arts, Inc.(a)		1,295
		Entertainment — continued
	48	Netflix, Inc.(a)	$	15,504
	3	Take-Two Interactive Software, Inc.(a)		368
	10	Viacom, Inc., Class B		303
	98	Walt Disney Co. (The)		14,015
				34,717
		Food & Staples Retailing — 0.1%
	73	Kroger Co. (The)		1,545
	113	SpartanNash Co.		1,336
	9	Sysco Corp.		617
	13	Walgreens Boots Alliance, Inc.		708
				4,206
		Food Products — 0.6%
	52	Campbell Soup Co.		2,150
	569	Danone S.A., Sponsored ADR		9,798
	24	General Mills, Inc.		1,275
	57	Hain Celestial Group, Inc. (The)(a)		1,241
	4	Hershey Co. (The)		607
	20	Ingredion, Inc.		1,546
	11	J.M. Smucker Co. (The)		1,223
	11	Kellogg Co.		640
	56	Kraft Heinz Co. (The)		1,792
	6	Mondelez International, Inc., Class A		321
				20,593
		Gas Utilities — 0.2%
	56	New Jersey Resources Corp.		2,793
	35	ONE Gas, Inc.		3,191
	60	South Jersey Industries, Inc.		2,043
				8,027
		Health Care Equipment & Supplies — 0.7%
	11	Alcon, Inc.(a)		646
	4	Align Technology, Inc.(a)		836
	1	Becton Dickinson and Co.		253
	8	Boston Scientific Corp.(a)		340
	3	Danaher Corp.		421
	15	DENTSPLY SIRONA, Inc.		817
	1	Edwards Lifesciences Corp.(a)		213
	31	Globus Medical, Inc.(a)		1,413
	16	Haemonetics Corp.(a)		1,953
	1	Intuitive Surgical, Inc.(a)		519
	98	Meridian Bioscience, Inc.		1,171
	23	Merit Medical Systems, Inc.(a)		908
	30	STERIS PLC		4,466
	1	Stryker Corp.		210
	54	Varian Medical Systems, Inc.(a)		6,338
	22	West Pharmaceutical Services, Inc.		3,020
				23,524
		Health Care Providers & Services — 1.1%
	32	Acadia Healthcare Co., Inc.(a)		1,022
	9	Amedisys, Inc.(a)		1,241
	3	Anthem, Inc.		884
	21	BioTelemetry, Inc.(a)		986
	65	Centene Corp.(a)		3,386
	6	Chemed Corp.		2,432
	5	Cigna Corp.		850
	199	CVS Health Corp.		11,118
	28	Encompass Health Corp.		1,788
	46	HCA Healthcare, Inc.		6,141
	18	Henry Schein, Inc.(a)		1,198
	3	Humana, Inc.		890
	10	Laboratory Corp. of America Holdings(a)		1,675
	33	MEDNAX, Inc.(a)		811

See accompanying notes to financial statements.

33  |

Portfolio of Investments – as of July 31, 2019 (Unaudited)

Natixis Sustainable Future 2030 Fund – (continued)

Shares		Description	Value (†)
		Health Care Providers & Services — continued
	52	Patterson Cos., Inc.	$	1,030
	17	Quest Diagnostics, Inc.		1,735
	12	UnitedHealth Group, Inc.		2,988
				40,175
		Health Care Technology — 0.4%
	111	Allscripts Healthcare Solutions, Inc.(a)		1,143
	159	Cerner Corp.		11,393
	27	Medidata Solutions, Inc.(a)		2,467
				15,003
		Hotels, Restaurants & Leisure — 2.0%
	5	Domino’s Pizza, Inc.		1,223
	32	Dunkin’ Brands Group, Inc.		2,565
	74	Hilton Worldwide Holdings, Inc.		7,145
	18	Jack in the Box, Inc.		1,293
	17	Marriott Vacations Worldwide Corp.		1,738
	3	McDonald’s Corp.		632
	324	MGM Resorts International		9,726
	29	Six Flags Entertainment Corp.		1,532
	199	Starbucks Corp.		18,843
	103	Wendy’s Co. (The)		1,874
	327	Yum China Holdings, Inc.		14,878
	65	Yum! Brands, Inc.		7,314
				68,763
		Household Durables — 0.2%
	10	iRobot Corp.(a)		731
	82	KB Home		2,154
	64	Meritage Homes Corp.(a)		4,020
	41	Tupperware Brands Corp.		628
				7,533
		Household Products — 0.8%
	129	Colgate-Palmolive Co.		9,254
	163	Procter & Gamble Co. (The)		19,241
				28,495
		Independent Power & Renewable Electricity Producers — 0.2%
	60	AES Corp. (The)		1,007
	50	Ormat Technologies, Inc.		3,278
	117	Pattern Energy Group, Inc.		2,683
				6,968
		Industrial Conglomerates — 0.3%
	1,142	General Electric Co.		11,934
		Insurance — 1.2%
	8	Aflac, Inc.		421
	31	Allstate Corp. (The)		3,329
	225	American International Group, Inc.		12,598
	6	Brighthouse Financial, Inc.(a)		235
	52	Chubb Ltd.		7,948
	54	First American Financial Corp.		3,122
	15	Hartford Financial Services Group, Inc. (The)		865
	9	Lincoln National Corp.		588
	21	Marsh & McLennan Cos., Inc.		2,075
	15	MetLife, Inc.		741
	54	Prudential Financial, Inc.		5,471
	23	Travelers Cos., Inc. (The)		3,372
				40,765
		Interactive Media & Services — 2.3%
	10	Alphabet, Inc., Class A(a)		12,182
	25	Alphabet, Inc., Class C(a)		30,417
	189	Facebook, Inc., Class A(a)		36,709
	7	TripAdvisor, Inc.(a)		309
				79,617
		Internet & Direct Marketing Retail — 2.3%
	139	Alibaba Group Holding Ltd., Sponsored ADR(a)	$	24,062
	18	Amazon.com, Inc.(a)		33,602
	8	Booking Holdings, Inc.(a)		15,093
	217	eBay, Inc.		8,938
				81,695
		IT Services — 2.5%
	70	Automatic Data Processing, Inc.		11,656
	7	Cognizant Technology Solutions Corp., Class A		456
	121	DXC Technology Co.		6,748
	48	Gartner, Inc.(a)		6,688
	8	International Business Machines Corp.		1,186
	38	Leidos Holdings, Inc.		3,120
	43	MasterCard, Inc., Class A		11,708
	11	PayPal Holdings, Inc.(a)		1,214
	149	Sabre Corp.		3,503
	206	Visa, Inc., Class A		36,668
	65	Western Union Co. (The)		1,365
	14	WEX, Inc.(a)		3,053
				87,365
		Leisure Products — 0.0%
	68	Callaway Golf Co.		1,247
		Life Sciences Tools & Services — 0.1%
	1	Illumina, Inc.(a)		300
	8	IQVIA Holdings, Inc.(a)		1,273
	6	Thermo Fisher Scientific, Inc.		1,666
				3,239
		Machinery — 2.0%
	39	AGCO Corp.		3,003
	88	Caterpillar, Inc.		11,587
	53	Cummins, Inc.		8,692
	85	Deere & Co.		14,080
	42	Flowserve Corp.		2,101
	26	IDEX Corp.		4,374
	47	ITT, Inc.		2,934
	58	Kennametal, Inc.		2,006
	37	Oshkosh Corp.		3,092
	77	Parker Hannifin Corp.		13,481
	11	Proto Labs, Inc.(a)		1,145
	49	Terex Corp.		1,492
	41	Toro Co. (The)		2,985
	6	Xylem, Inc.		482
				71,454
		Media — 1.0%
	2	Cable One, Inc.		2,433
	17	CBS Corp., Class B		876
	32	Charter Communications, Inc., Class A(a)		12,332
	281	Comcast Corp., Class A		12,131
	32	Discovery, Inc., Series C(a)		904
	14	Interpublic Group of Cos., Inc. (The)		321
	53	New York Times Co. (The), Class A		1,891
	84	News Corp., Class A		1,105
	22	Omnicom Group, Inc.		1,765
				33,758
		Metals & Mining — 0.4%
	89	Commercial Metals Co.		1,558
	98	Newmont Goldcorp Corp.		3,579
	16	Nucor Corp.		870
	36	Reliance Steel & Aluminum Co.		3,598
	26	Royal Gold, Inc.		2,976
				12,581

See accompanying notes to financial statements.

|  34

Portfolio of Investments – as of July 31, 2019 (Unaudited)

Natixis Sustainable Future 2030 Fund – (continued)

Shares		Description	Value (†)
		Multi-Utilities — 0.2%
	61	Consolidated Edison, Inc.	$	5,183
	9	DTE Energy Co.		1,144
	14	Sempra Energy		1,896
				8,223
		Multiline Retail — 0.0%
	11	Macy’s, Inc.		250
	13	Target Corp.		1,123
				1,373
		Oil, Gas & Consumable Fuels — 1.1%
	284	Apache Corp.		6,935
	1,600	Chesapeake Energy Corp.(a)		2,896
	54	Concho Resources, Inc.		5,275
	483	Denbury Resources, Inc.(a)		546
	49	Diamondback Energy, Inc.		5,068
	54	EOG Resources, Inc.		4,636
	87	EQT Corp.		1,315
	72	Green Plains, Inc.		726
	47	Hess Corp.		3,048
	106	Noble Energy, Inc.		2,340
	38	ONEOK, Inc.		2,663
	28	Valero Energy Corp.		2,387
	47	World Fuel Services Corp.		1,835
				39,670
		Paper & Forest Products — 0.1%
	37	Domtar Corp.		1,571
	65	Louisiana-Pacific Corp.		1,699
				3,270
		Personal Products — 0.0%
	3	Estee Lauder Cos., Inc. (The), Class A		553
		Pharmaceuticals — 0.9%
	1	Allergan PLC		160
	15	Bristol-Myers Squibb Co.		666
	48	Catalent, Inc.(a)		2,712
	12	Eli Lilly & Co.		1,307
	65	Merck & Co., Inc.		5,394
	63	Novartis AG, Sponsored ADR		5,770
	225	Novo Nordisk AS, Sponsored ADR		10,782
	26	Perrigo Co. PLC		1,404
	71	Pfizer, Inc.		2,758
				30,953
		Professional Services — 0.2%
	36	Exponent, Inc.		2,477
	16	Insperity, Inc.		1,702
	37	Korn Ferry		1,453
	24	ManpowerGroup, Inc.		2,192
	32	Nielsen Holdings PLC		741
				8,565
		Real Estate Management & Development — 0.1%
	12	CBRE Group, Inc., Class A(a)		636
	21	Jones Lang LaSalle, Inc.		3,060
				3,696
		REITs – Apartments — 0.3%
	69	American Campus Communities, Inc.		3,226
	3	AvalonBay Communities, Inc.		626
	46	Camden Property Trust		4,771
	7	Equity Residential		552
	4	Essex Property Trust, Inc.		1,209
	3	Mid-America Apartment Communities, Inc.		353
				10,737
		REITs – Diversified — 0.1%
	5	Crown Castle International Corp.	$	666
	9	Digital Realty Trust, Inc.		1,029
	1	Equinix, Inc.		502
	60	Weyerhaeuser Co.		1,525
				3,722
		REITs – Health Care — 0.1%
	25	Ventas, Inc.		1,682
	36	Welltower, Inc.		2,993
				4,675
		REITs – Hotels — 0.0%
	88	Host Hotels & Resorts, Inc.		1,530
		REITs – Office Property — 0.5%
	10	Boston Properties, Inc.		1,329
	104	Corporate Office Properties Trust		2,904
	118	Douglas Emmett, Inc.		4,817
	173	Easterly Government Properties, Inc.		3,264
	52	Kilroy Realty Corp.		4,132
				16,446
		REITs – Regional Malls — 0.0%
	6	Macerich Co. (The)		198
	9	Simon Property Group, Inc.		1,460
				1,658
		REITs – Storage — 0.0%
	25	Iron Mountain, Inc.		735
	2	Public Storage		486
				1,221
		REITs – Warehouse/Industrials — 0.2%
	35	CyrusOne, Inc.		2,009
	85	Liberty Property Trust		4,445
				6,454
		Road & Rail — 0.5%
	33	Genesee & Wyoming, Inc., Class A(a)		3,624
	19	Kansas City Southern		2,351
	26	Norfolk Southern Corp.		4,969
	32	Ryder System, Inc.		1,704
	18	Union Pacific Corp.		3,239
				15,887
		Semiconductors & Semiconductor Equipment — 1.9%
	14	Advanced Micro Devices, Inc.(a)		426
	57	Applied Materials, Inc.		2,814
	38	Brooks Automation, Inc.		1,474
	24	Cabot Microelectronics Corp.		2,920
	41	Cirrus Logic, Inc.(a)		2,011
	29	Cree, Inc.(a)		1,803
	63	First Solar, Inc.(a)		4,063
	217	Intel Corp.		10,969
	6	Lam Research Corp.		1,252
	7	Microchip Technology, Inc.		661
	84	NVIDIA Corp.		14,173
	178	QUALCOMM, Inc.		13,022
	30	Silicon Laboratories, Inc.(a)		3,366
	73	Texas Instruments, Inc.		9,126
				68,080
		Software — 2.1%
	6	Adobe, Inc.(a)		1,793
	126	Autodesk, Inc.(a)		19,677
	24	Blackbaud, Inc.		2,184
	32	Bottomline Technologies, Inc.(a)		1,347
	10	Fair Isaac Corp.(a)		3,474

See accompanying notes to financial statements.

35  |

Portfolio of Investments – as of July 31, 2019 (Unaudited)

Natixis Sustainable Future 2030 Fund – (continued)

Shares		Description	Value (†)
		Software — continued
	19	LogMeIn, Inc.	$	1,444
	112	Microsoft Corp.		15,262
	429	Oracle Corp.		24,153
	29	PTC, Inc.(a)		1,966
	19	Qualys, Inc.(a)		1,645
	2	salesforce.com, inc.(a)		309
	29	Symantec Corp.		625
				73,879
		Specialty Retail — 0.6%
	25	Aaron’s, Inc.		1,576
	72	American Eagle Outfitters, Inc.		1,274
	24	Asbury Automotive Group, Inc.(a)		2,210
	13	Best Buy Co., Inc.		995
	12	Five Below, Inc.(a)		1,410
	28	Home Depot, Inc. (The)		5,983
	20	Lithia Motors, Inc., Class A		2,638
	16	Lowe’s Cos., Inc.		1,622
	21	Monro, Inc.		1,769
	10	Tiffany & Co.		939
	27	Williams-Sonoma, Inc.		1,800
				22,216
		Technology Hardware, Storage & Peripherals — 1.5%
	193	Apple, Inc.		41,117
	191	Hewlett Packard Enterprise Co.		2,745
	138	HP, Inc.		2,904
	63	NCR Corp.(a)		2,130
	11	NetApp, Inc.		643
	20	Seagate Technology PLC		926
	6	Western Digital Corp.		323
	45	Xerox Corp.		1,444
				52,232
		Textiles, Apparel & Luxury Goods — 0.6%
	15	Deckers Outdoor Corp.(a)		2,344
	16	Hanesbrands, Inc.		257
	16	NIKE, Inc., Class B		1,377
	4	PVH Corp.		356
	605	Under Armour, Inc., Class A(a)		13,957
	58	Wolverine World Wide, Inc.		1,575
				19,866
		Thrifts & Mortgage Finance — 0.1%
	220	New York Community Bancorp, Inc.		2,537
		Trading Companies & Distributors — 0.2%
	54	Fastenal Co.		1,663
	18	GATX Corp.		1,383
	12	United Rentals, Inc.(a)		1,519
	6	W.W. Grainger, Inc.		1,746
				6,311
		Water Utilities — 0.2%
	43	American Water Works Co., Inc.		4,936
	71	Aqua America, Inc.		2,978
				7,914
		Total Common Stocks (Identified Cost $1,647,826)		1,692,460
Principal Amount		Description	Value (†)
	Bonds and Notes — 12.1%
		Agency Commercial Mortgage-Backed Securities — 0.1%
$	4,000	FHLMC Multifamily Structured Pass Through Certificates, Series K012, Class A2, 4.185%, 12/25/2020(b)	$	4,088
		Automotive — 0.2%
	4,000	General Motors Financial Co., Inc., 4.350%, 1/17/2027		4,096
	4,000	Toyota Motor Credit Corp., MTN, 2.600%, 1/11/2022		4,037
				8,133
		Banking — 1.9%
	4,000	American Express Co., 3.700%, 8/03/2023		4,177
	4,000	Bank of America Corp., (fixed rate to 1/20/2022, variable rate thereafter), MTN, 3.124%, 1/20/2023		4,059
	4,000	Bank of Montreal, MTN, 1.900%, 8/27/2021		3,974
	4,000	Bank of New York Mellon Corp. (The), Series 10YR, MTN, 3.650%, 2/04/2024		4,216
	4,000	BNP Paribas S.A., MTN, 3.250%, 3/03/2023		4,127
	4,000	Capital One Financial Corp., 3.300%, 10/30/2024		4,142
	4,000	Citigroup, Inc., 4.600%, 3/09/2026		4,321
	2,000	Deutsche Bank AG, GMTN, 3.375%, 5/12/2021		1,991
	4,000	Goldman Sachs Group, Inc. (The), 3.750%, 5/22/2025		4,178
	4,000	HSBC Holdings PLC, 5.100%, 4/05/2021		4,175
	4,000	JPMorgan Chase & Co., (fixed rate to 3/01/2024, variable rate thereafter), 3.220%, 3/01/2025		4,106
	4,000	Morgan Stanley, Series F, 3.875%, 4/29/2024		4,225
	4,000	Royal Bank of Canada, GMTN, 2.150%, 3/06/2020		3,996
	4,000	Santander UK PLC, 2.375%, 3/16/2020		3,997
	4,000	SunTrust Bank, 2.250%, 1/31/2020		3,995
	4,000	Wells Fargo & Co., MTN, 3.000%, 2/19/2025		4,073
	4,000	Westpac Banking Corp., 2.750%, 1/11/2023		4,048
				67,800
		Cable Satellite — 0.1%
	4,000	Comcast Corp., 3.000%, 2/01/2024		4,105
		Construction Machinery — 0.1%
	4,000	John Deere Capital Corp., MTN, 2.650%, 1/06/2022		4,040
		Consumer Cyclical Services — 0.1%
	4,000	eBay, Inc., 3.800%, 3/09/2022		4,127
		Electric — 0.2%
	4,000	Duke Energy Corp., 3.750%, 4/15/2024		4,202
	4,000	Virginia Electric & Power Co., Series A, 3.150%, 1/15/2026		4,144
				8,346
		Financial Other — 0.1%
	4,000	ORIX Corp., 2.900%, 7/18/2022		4,065
		Food & Beverage — 0.1%
	4,000	General Mills, Inc., 4.000%, 4/17/2025		4,245
		Government Owned – No Guarantee — 0.4%
	10,000	Federal National Mortgage Association, 6.625%, 11/15/2030		14,247
		Health Insurance — 0.2%
	4,000	Anthem, Inc., 4.101%, 3/01/2028		4,254
	3,000	UnitedHealth Group, Inc., 5.800%, 3/15/2036		3,898
				8,152
		Healthcare — 0.4%
	4,000	CVS Health Corp., 3.875%, 7/20/2025		4,174
	4,000	Express Scripts Holding Co., 4.500%, 2/25/2026		4,326
	4,000	McKesson Corp., 3.950%, 2/16/2028		4,152
				12,652

See accompanying notes to financial statements.

|  36

Portfolio of Investments – as of July 31, 2019 (Unaudited)

Natixis Sustainable Future 2030 Fund – (continued)

Principal Amount		Description	Value (†)
		Independent Energy — 0.1%
$	4,000	EQT Corp., 3.000%, 10/01/2022	$	3,891
		Integrated Energy — 0.4%
	4,000	BP Capital Markets PLC, 3.814%, 2/10/2024		4,226
	4,000	Chevron Corp., 1.961%, 3/03/2020		3,996
	3,000	Shell International Finance BV, 6.375%, 12/15/2038		4,294
				12,516
		Life Insurance — 0.1%
	4,000	American International Group, Inc., 3.900%, 4/01/2026		4,220
		Media Entertainment — 0.2%
	4,000	Viacom, Inc., 6.875%, 4/30/2036		5,068
		Midstream — 0.4%
	4,000	Energy Transfer Operating LP, 4.050%, 3/15/2025		4,162
	4,000	Enterprise Products Operating LLC, 2.550%, 10/15/2019		4,000
	4,000	Kinder Morgan Energy Partners LP, 4.150%, 2/01/2024		4,218
				12,380
		Mortgage Related — 2.7%
	35,169	FNMA, 3.000%, with various maturities from 2034 to 2049(c)		35,651
	35,767	FNMA, 3.500%, 6/01/2049		36,663
	12,700	FNMA, 4.000%, 2/01/2049		13,142
	7,790	FNMA, 4.500%, 5/01/2049		8,170
				93,626
		Oil Field Services — 0.1%
	4,000	Baker Hughes a GE Co. LLC/Baker HughesCo-Obligor, Inc., 2.773%, 12/15/2022		4,032
		Pharmaceuticals — 0.2%
	4,000	AbbVie, Inc., 3.600%, 5/14/2025		4,126
	4,000	Amgen, Inc., 2.650%, 5/11/2022		4,023
				8,149
		Railroads — 0.1%
	4,000	CSX Corp., 2.600%, 11/01/2026		3,994
		REITs – Office Property — 0.1%
	2,000	Boston Properties LP, 2.750%, 10/01/2026		1,988
		Restaurants — 0.1%
	4,000	Starbucks Corp., 3.800%, 8/15/2025		4,251
		Technology — 0.6%
	4,000	Apple, Inc., 2.500%, 2/09/2025		4,033
	4,000	International Business Machines Corp., 4.000%, 6/20/2042		4,215
	4,000	Oracle Corp., 2.950%, 5/15/2025		4,104
	4,000	QUALCOMM, Inc., 3.450%, 5/20/2025		4,166
	4,000	VMware, Inc., 2.950%, 8/21/2022		4,030
				20,548
		Treasuries — 2.7%
	4,000	U.S. Treasury Bond, 2.500%, 5/15/2046		3,976
	8,000	U.S. Treasury Bond, 2.875%, 11/15/2046		8,555
	13,000	U.S. Treasury Bond, 3.000%, 5/15/2045		14,205
	4,000	U.S. Treasury Bond, 3.000%, 2/15/2048		4,379
	3,000	U.S. Treasury Bond, 3.000%, 2/15/2049		3,293
	2,000	U.S. Treasury Bond, 4.250%, 11/15/2040		2,621
	3,000	U.S. Treasury Bond, 4.375%, 5/15/2041		4,002
	8,000	U.S. Treasury Bond, 5.250%, 2/15/2029		10,243
	9,000	U.S. Treasury Note, 1.125%, 4/30/2020		8,934
	6,000	U.S. Treasury Note, 1.125%, 9/30/2021		5,904
	3,000	U.S. Treasury Note, 1.625%, 8/31/2022		2,979
	3,000	U.S. Treasury Note, 1.750%, 5/15/2023		2,988
	2,000	U.S. Treasury Note, 2.000%, 11/15/2026		2,007
	6,000	U.S. Treasury Note, 2.125%, 12/31/2022		6,055
	1,000	U.S. Treasury Note, 2.250%, 11/15/2025		1,020
		Treasuries — continued
$	5,000	U.S. Treasury Note, 2.250%, 11/15/2027	$	5,102
	4,000	U.S. Treasury Note, 2.625%, 2/15/2029		4,209
	4,000	U.S. Treasury Note, 2.875%, 9/30/2023		4,162
				94,634
		Wireless — 0.2%
	4,000	Vodafone Group PLC, 6.150%, 2/27/2037		4,904
		Wirelines — 0.2%
	4,000	AT&T, Inc., 3.400%, 5/15/2025		4,115
	4,000	AT&T, Inc., 3.875%, 1/15/2026		4,210
				8,325
		Total Bonds and Notes (Identified Cost $417,691)		426,526
Shares
	Exchange-Traded Funds — 11.6%
	4,502	iShares® ESG MSCI EAFE ETF		284,211
	3,712	iShares® ESG MSCI Emerging Markets ETF		123,721
		Total Exchange-Traded Funds (Identified Cost $397,406)		407,932
	Affiliated Mutual Funds — 27.4%
	15,995	Loomis Sayles Inflation Protected Securities Fund, Class N		168,744
	14,865	Loomis Sayles Limited Term Government and Agency Fund, Class N		168,417
	19,646	Mirova Global Green Bond Fund, Class N		207,459
	37,518	Mirova International Sustainable Equity Fund, Class N		420,573
		Total Affiliated Mutual Funds (Identified Cost $947,100)		965,193
		Total Investments — 99.1% (Identified Cost $3,410,023)		3,492,111
		Other assets less liabilities — 0.9%		29,958
		Net Assets — 100.0%	$	3,522,069
	(†)	See Note 2 of Notes to Financial Statements.
	(a)	Non-income producing security.
	(b)	Variable rate security. The interest rate adjusts periodically based on; (i) changes in current interest rates and/or prepayments on underlying pools of assets, if applicable, (ii) reference to a base lending rate plus or minus a margin, and/or (iii) reference to a base lending rate adjusted by a multiplier and/or subject to certain floors or caps. Rate as of July 31, 2019 is disclosed.
	(c)	The Fund’s investment in mortgage related securities of Federal National Mortgage Association are interests in separate pools of mortgages. All separate investments in securities of each issuer which have the same coupon rate have been aggregated for the purpose of presentation in the Portfolio of Investments.
	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.
	ETF	Exchange-Traded Fund
	FHLMC	Federal Home Loan Mortgage Corp.
	FNMA	Federal National Mortgage Association
	GMTN	Global Medium Term Note
	MTN	Medium Term Note
	REITs	Real Estate Investment Trusts

See accompanying notes to financial statements.

37  |

Portfolio of Investments – as of July 31, 2019 (Unaudited)

Natixis Sustainable Future 2030 Fund – (continued)

Asset Allocation Summary at July 31, 2019 (Unaudited)

Equity	71.5	%
Fixed Income	27.6
Total Investments	99.1
Other assets less liabilities	0.9
Net Assets	100.0	%

See accompanying notes to financial statements.

|  38

Portfolio of Investments – as of July 31, 2019 (Unaudited)

Natixis Sustainable Future 2035 Fund

Shares		Description	Value (†)
	Common Stocks — 53.8% of Net Assets
		Aerospace & Defense — 0.4%
	24	Axon Enterprise, Inc.(a)	$	1,685
	33	Moog, Inc., Class A		2,688
	7	Raytheon Co.		1,276
	18	Teledyne Technologies, Inc.(a)		5,243
	56	United Technologies Corp.		7,482
				18,374
		Air Freight & Logistics — 0.9%
	360	Expeditors International of Washington, Inc.		27,486
	46	FedEx Corp.		7,844
	57	United Parcel Service, Inc., Class B		6,810
				42,140
		Airlines — 0.2%
	336	American Airlines Group, Inc.		10,251
		Auto Components — 0.3%
	165	American Axle & Manufacturing Holdings, Inc.(a)		1,992
	104	Aptiv PLC		9,116
	24	BorgWarner, Inc.		907
	152	Delphi Technologies PLC		2,848
	35	Visteon Corp.(a)		2,306
				17,169
		Automobiles — 0.6%
	1,104	Fiat Chrysler Automobiles NV		14,562
	384	General Motors Co.		15,490
				30,052
		Banks — 3.6%
	87	Ameris Bancorp		3,460
	165	BancorpSouth Bank		4,932
	873	Bank of America Corp.		26,784
	163	BB&T Corp.		8,399
	397	Citigroup, Inc.		28,250
	187	Citizens Financial Group, Inc.		6,968
	126	Columbia Banking System, Inc.		4,751
	18	Comerica, Inc.		1,318
	319	CVB Financial Corp.		7,021
	289	Fulton Financial Corp.		4,913
	129	Huntington Bancshares, Inc.		1,838
	147	International Bancshares Corp.		5,532
	278	KeyCorp		5,107
	32	M&T Bank Corp.		5,256
	505	People’s United Financial, Inc.		8,292
	103	PNC Financial Services Group, Inc. (The)		14,719
	186	Regions Financial Corp.		2,963
	227	Trustmark Corp.		8,068
	326	Wells Fargo & Co.		15,782
	79	Westamerica Bancorporation		5,064
	60	Wintrust Financial Corp.		4,292
	63	Zions Bancorp N.A.		2,839
				176,548
		Beverages — 1.7%
	48	Brown-Forman Corp., Class B		2,631
	473	Coca-Cola Co. (The)		24,894
	67	Constellation Brands, Inc., Class A		13,187
	544	Monster Beverage Corp.(a)		35,071
	59	PepsiCo, Inc.		7,541
				83,324
		Biotechnology — 1.7%
	37	AbbVie, Inc.		2,465
	84	Amgen, Inc.		15,673
	8	Biogen, Inc.(a)		1,903
		Biotechnology — continued
	147	BioMarin Pharmaceutical, Inc.(a)	$	11,660
	28	Celgene Corp.(a)		2,572
	68	Gilead Sciences, Inc.		4,455
	22	Ligand Pharmaceuticals, Inc.(a)		2,013
	75	Medicines Co. (The)(a)		2,688
	115	Regeneron Pharmaceuticals, Inc.(a)		35,047
	44	Repligen Corp.(a)		4,153
	3	Vertex Pharmaceuticals, Inc.(a)		500
				83,129
		Building Products — 0.4%
	295	Johnson Controls International PLC		12,520
	23	Lennox International, Inc.		5,899
				18,419
		Capital Markets — 3.8%
	4	Affiliated Managers Group, Inc.		343
	14	Ameriprise Financial, Inc.		2,037
	483	Bank of New York Mellon Corp. (The)		22,662
	17	BlackRock, Inc.		7,951
	456	Charles Schwab Corp. (The)		19,708
	24	CME Group, Inc.		4,666
	64	FactSet Research Systems, Inc.		17,747
	100	Franklin Resources, Inc.		3,263
	50	Goldman Sachs Group, Inc. (The)		11,007
	12	Intercontinental Exchange, Inc.		1,054
	54	Invesco Ltd.		1,036
	111	Janus Henderson Group PLC		2,228
	122	Legg Mason, Inc.		4,595
	83	Moody’s Corp.		17,790
	80	MSCI, Inc.		18,179
	61	Northern Trust Corp.		5,978
	45	S&P Global, Inc.		11,023
	308	SEI Investments Co.		18,354
	346	State Street Corp.		20,099
				189,720
		Chemicals — 0.7%
	32	Ecolab, Inc.		6,455
	60	HB Fuller Co.		2,869
	46	Innospec, Inc.		4,296
	7	International Flavors & Fragrances, Inc.		1,008
	65	Linde PLC		12,433
	51	Minerals Technologies, Inc.		2,716
	29	Stepan Co.		2,875
				32,652
		Commercial Services & Supplies — 0.2%
	63	Healthcare Services Group, Inc.		1,506
	33	MSA Safety, Inc.		3,476
	48	Tetra Tech, Inc.		3,802
	24	Waste Management, Inc.		2,808
				11,592
		Communications Equipment — 0.8%
	78	Ciena Corp.(a)		3,527
	502	Cisco Systems, Inc.		27,811
	39	InterDigital, Inc.		2,513
	41	Lumentum Holdings, Inc.(a)		2,322
	10	Motorola Solutions, Inc.		1,659
				37,832
		Construction & Engineering — 0.1%
	148	AECOM(a)		5,321

See accompanying notes to financial statements.

39  |

Portfolio of Investments – as of July 31, 2019 (Unaudited)

Natixis Sustainable Future 2035 Fund – (continued)

Shares		Description	Value (†)
		Consumer Finance — 0.8%
	127	American Express Co.	$	15,795
	272	Capital One Financial Corp.		25,138
	58	Navient Corp.		821
				41,754
		Containers & Packaging — 0.2%
	78	Ball Corp.		5,575
	15	Crown Holdings, Inc.(a)		960
	57	International Paper Co.		2,503
	141	Owens-Illinois, Inc.		2,393
				11,431
		Distributors — 0.2%
	46	Genuine Parts Co.		4,468
	23	POOL CORP.		4,355
				8,823
		Diversified Consumer Services — 0.1%
	97	Service Corp. International		4,476
		Diversified Telecommunication Services — 0.1%
	96	AT&T, Inc.		3,269
	49	Verizon Communications, Inc.		2,708
				5,977
		Electric Utilities — 0.4%
	155	American Electric Power Co., Inc.		13,611
	28	Edison International		2,087
	25	Eversource Energy		1,896
	43	IDACORP, Inc.		4,389
				21,983
		Electrical Equipment — 0.2%
	17	Acuity Brands, Inc.		2,282
	48	Eaton Corp. PLC		3,945
	30	Hubbell, Inc.		3,896
				10,123
		Electronic Equipment, Instruments & Components — 0.9%
	78	Avnet, Inc.		3,543
	32	Belden, Inc.		1,455
	84	Cognex Corp.		3,697
	17	Coherent, Inc.(a)		2,360
	15	Littelfuse, Inc.		2,534
	15	Rogers Corp.(a)		2,380
	193	TE Connectivity Ltd.		17,833
	100	Trimble, Inc.(a)		4,226
	140	Vishay Intertechnology, Inc.		2,380
	21	Zebra Technologies Corp., Class A(a)		4,429
				44,837
		Energy Equipment & Services — 0.7%
	56	Apergy Corp.(a)		1,822
	71	Baker Hughes, a GE Co.		1,803
	86	C&J Energy Services, Inc.(a)		941
	30	Core Laboratories NV		1,505
	236	Halliburton Co.		5,428
	99	National Oilwell Varco, Inc.		2,358
	79	Oceaneering International, Inc.(a)		1,220
	70	Oil States International, Inc.(a)		1,044
	413	Schlumberger Ltd.		16,508
	67	TechnipFMC PLC		1,845
	141	U.S. Silica Holdings, Inc.		1,954
				36,428
		Entertainment — 1.1%
	44	Activision Blizzard, Inc.		2,144
	67	Cinemark Holdings, Inc.		2,675
		Entertainment — continued
	22	Electronic Arts, Inc.(a)	$	2,035
	74	Netflix, Inc.(a)		23,901
	5	Take-Two Interactive Software, Inc.(a)		613
	17	Viacom, Inc., Class B		516
	158	Walt Disney Co. (The)		22,596
				54,480
		Food & Staples Retailing — 0.2%
	104	Kroger Co. (The)		2,201
	266	SpartanNash Co.		3,144
	15	Sysco Corp.		1,029
	21	Walgreens Boots Alliance, Inc.		1,144
				7,518
		Food Products — 0.6%
	83	Campbell Soup Co.		3,431
	908	Danone S.A., Sponsored ADR		15,636
	28	General Mills, Inc.		1,487
	94	Hain Celestial Group, Inc. (The)(a)		2,046
	4	Hershey Co. (The)		607
	27	Ingredion, Inc.		2,087
	17	J.M. Smucker Co. (The)		1,890
	18	Kellogg Co.		1,048
	90	Kraft Heinz Co. (The)		2,881
	11	Mondelez International, Inc., Class A		589
				31,702
		Gas Utilities — 0.3%
	88	New Jersey Resources Corp.		4,388
	50	ONE Gas, Inc.		4,559
	97	South Jersey Industries, Inc.		3,303
				12,250
		Health Care Equipment & Supplies — 0.8%
	23	Alcon, Inc.(a)		1,351
	7	Align Technology, Inc.(a)		1,464
	2	Becton Dickinson and Co.		506
	13	Boston Scientific Corp.(a)		552
	5	Danaher Corp.		703
	29	DENTSPLY SIRONA, Inc.		1,579
	2	Edwards Lifesciences Corp.(a)		426
	46	Globus Medical, Inc.(a)		2,097
	24	Haemonetics Corp.(a)		2,930
	2	Intuitive Surgical, Inc.(a)		1,039
	171	Meridian Bioscience, Inc.		2,043
	38	Merit Medical Systems, Inc.(a)		1,499
	48	STERIS PLC		7,145
	2	Stryker Corp.		420
	93	Varian Medical Systems, Inc.(a)		10,915
	31	West Pharmaceutical Services, Inc.		4,255
				38,924
		Health Care Providers & Services — 1.3%
	44	Acadia Healthcare Co., Inc.(a)		1,405
	17	Amedisys, Inc.(a)		2,344
	4	Anthem, Inc.		1,178
	37	BioTelemetry, Inc.(a)		1,737
	105	Centene Corp.(a)		5,470
	11	Chemed Corp.		4,459
	7	Cigna Corp.		1,189
	305	CVS Health Corp.		17,040
	45	Encompass Health Corp.		2,873
	70	HCA Healthcare, Inc.		9,346
	38	Henry Schein, Inc.(a)		2,529
	4	Humana, Inc.		1,187
	17	Laboratory Corp. of America Holdings(a)		2,848

See accompanying notes to financial statements.

|  40

Portfolio of Investments – as of July 31, 2019 (Unaudited)

Natixis Sustainable Future 2035 Fund – (continued)

Shares		Description	Value (†)
		Health Care Providers & Services — continued
	45	MEDNAX, Inc.(a)	$	1,106
	86	Patterson Cos., Inc.		1,703
	28	Quest Diagnostics, Inc.		2,858
	20	UnitedHealth Group, Inc.		4,980
				64,252
		Health Care Technology — 0.5%
	152	Allscripts Healthcare Solutions, Inc.(a)		1,566
	257	Cerner Corp.		18,414
	38	Medidata Solutions, Inc.(a)		3,472
				23,452
		Hotels, Restaurants & Leisure — 2.2%
	14	Domino’s Pizza, Inc.		3,423
	45	Dunkin’ Brands Group, Inc.		3,607
	113	Hilton Worldwide Holdings, Inc.		10,910
	27	Jack in the Box, Inc.		1,939
	27	Marriott Vacations Worldwide Corp.		2,760
	5	McDonald’s Corp.		1,054
	495	MGM Resorts International		14,860
	47	Six Flags Entertainment Corp.		2,483
	323	Starbucks Corp.		30,585
	157	Wendy’s Co. (The)		2,856
	528	Yum China Holdings, Inc.		24,024
	107	Yum! Brands, Inc.		12,040
				110,541
		Household Durables — 0.2%
	17	iRobot Corp.(a)		1,243
	125	KB Home		3,284
	99	Meritage Homes Corp.(a)		6,218
	68	Tupperware Brands Corp.		1,041
				11,786
		Household Products — 0.9%
	209	Colgate-Palmolive Co.		14,994
	263	Procter & Gamble Co. (The)		31,044
				46,038
		Independent Power & Renewable Electricity Producers — 0.2%
	97	AES Corp. (The)		1,629
	77	Ormat Technologies, Inc.		5,047
	182	Pattern Energy Group, Inc.		4,173
				10,849
		Industrial Conglomerates — 0.4%
	1,740	General Electric Co.		18,183
		Insurance — 1.3%
	13	Aflac, Inc.		684
	49	Allstate Corp. (The)		5,263
	342	American International Group, Inc.		19,149
	11	Brighthouse Financial, Inc.(a)		431
	85	Chubb Ltd.		12,992
	76	First American Financial Corp.		4,394
	24	Hartford Financial Services Group, Inc. (The)		1,383
	15	Lincoln National Corp.		980
	33	Marsh & McLennan Cos., Inc.		3,260
	24	MetLife, Inc.		1,186
	85	Prudential Financial, Inc.		8,611
	37	Travelers Cos., Inc. (The)		5,425
				63,758
		Interactive Media & Services — 2.5%
	16	Alphabet, Inc., Class A(a)		19,491
	38	Alphabet, Inc., Class C(a)		46,234
	290	Facebook, Inc., Class A(a)		56,327
	7	TripAdvisor, Inc.(a)		309
				122,361
		Internet & Direct Marketing Retail — 2.6%
	217	Alibaba Group Holding Ltd., Sponsored ADR(a)	$	37,565
	29	Amazon.com, Inc.(a)		54,137
	12	Booking Holdings, Inc.(a)		22,639
	331	eBay, Inc.		13,634
				127,975
		IT Services — 2.8%
	110	Automatic Data Processing, Inc.		18,317
	12	Cognizant Technology Solutions Corp., Class A		782
	186	DXC Technology Co.		10,373
	73	Gartner, Inc.(a)		10,171
	13	International Business Machines Corp.		1,927
	60	Leidos Holdings, Inc.		4,926
	67	MasterCard, Inc., Class A		18,242
	18	PayPal Holdings, Inc.(a)		1,987
	226	Sabre Corp.		5,313
	322	Visa, Inc., Class A		57,316
	76	Western Union Co. (The)		1,596
	23	WEX, Inc.(a)		5,016
				135,966
		Leisure Products — 0.0%
	93	Callaway Golf Co.		1,706
		Life Sciences Tools & Services — 0.1%
	1	Illumina, Inc.(a)		299
	13	IQVIA Holdings, Inc.(a)		2,069
	10	Thermo Fisher Scientific, Inc.		2,777
				5,145
		Machinery — 2.3%
	55	AGCO Corp.		4,235
	139	Caterpillar, Inc.		18,302
	77	Cummins, Inc.		12,628
	140	Deere & Co.		23,191
	68	Flowserve Corp.		3,402
	41	IDEX Corp.		6,897
	74	ITT, Inc.		4,619
	94	Kennametal, Inc.		3,251
	58	Oshkosh Corp.		4,847
	119	Parker Hannifin Corp.		20,834
	17	Proto Labs, Inc.(a)		1,770
	69	Terex Corp.		2,101
	64	Toro Co. (The)		4,660
	10	Xylem, Inc.		803
				111,540
		Media — 1.1%
	5	Cable One, Inc.		6,084
	27	CBS Corp., Class B		1,391
	48	Charter Communications, Inc., Class A(a)		18,498
	429	Comcast Corp., Class A		18,520
	40	Discovery, Inc., Series C(a)		1,129
	22	Interpublic Group of Cos., Inc. (The)		504
	75	New York Times Co. (The), Class A		2,676
	123	News Corp., Class A		1,619
	36	Omnicom Group, Inc.		2,888
				53,309
		Metals & Mining — 0.4%
	133	Commercial Metals Co.		2,329
	157	Newmont Goldcorp Corp.		5,733
	19	Nucor Corp.		1,033
	57	Reliance Steel & Aluminum Co.		5,697
	37	Royal Gold, Inc.		4,235
				19,027

See accompanying notes to financial statements.

41  |

Portfolio of Investments – as of July 31, 2019 (Unaudited)

Natixis Sustainable Future 2035 Fund – (continued)

Shares		Description	Value (†)
		Multi-Utilities — 0.3%
	87	Consolidated Edison, Inc.	$	7,392
	15	DTE Energy Co.		1,907
	22	Sempra Energy		2,979
				12,278
		Multiline Retail — 0.0%
	12	Macy’s, Inc.		273
	21	Target Corp.		1,814
				2,087
		Oil, Gas & Consumable Fuels — 1.2%
	432	Apache Corp.		10,549
	2,435	Chesapeake Energy Corp.(a)		4,407
	82	Concho Resources, Inc.		8,010
	890	Denbury Resources, Inc.(a)		1,006
	74	Diamondback Energy, Inc.		7,654
	82	EOG Resources, Inc.		7,040
	130	EQT Corp.		1,964
	119	Green Plains, Inc.		1,201
	75	Hess Corp.		4,863
	169	Noble Energy, Inc.		3,731
	62	ONEOK, Inc.		4,345
	44	Valero Energy Corp.		3,751
	70	World Fuel Services Corp.		2,733
				61,254
		Paper & Forest Products — 0.1%
	52	Domtar Corp.		2,207
	98	Louisiana-Pacific Corp.		2,562
				4,769
		Personal Products — 0.0%
	5	Estee Lauder Cos., Inc. (The), Class A		921
		Pharmaceuticals — 1.0%
	3	Allergan PLC		481
	24	Bristol-Myers Squibb Co.		1,066
	71	Catalent, Inc.(a)		4,011
	20	Eli Lilly & Co.		2,179
	106	Merck & Co., Inc.		8,797
	104	Novartis AG, Sponsored ADR		9,524
	361	Novo Nordisk AS, Sponsored ADR		17,299
	32	Perrigo Co. PLC		1,728
	109	Pfizer, Inc.		4,234
				49,319
		Professional Services — 0.3%
	59	Exponent, Inc.		4,059
	22	Insperity, Inc.		2,340
	56	Korn Ferry		2,200
	36	ManpowerGroup, Inc.		3,288
	61	Nielsen Holdings PLC		1,413
				13,300
		Real Estate Management & Development — 0.1%
	21	CBRE Group, Inc., Class A(a)		1,113
	30	Jones Lang LaSalle, Inc.		4,371
				5,484
		REITs – Apartments — 0.3%
	107	American Campus Communities, Inc.		5,002
	4	AvalonBay Communities, Inc.		835
	75	Camden Property Trust		7,778
	12	Equity Residential		947
	6	Essex Property Trust, Inc.		1,813
	4	Mid-America Apartment Communities, Inc.		472
				16,847
		REITs – Diversified — 0.1%
	8	Crown Castle International Corp.	$	1,066
	16	Digital Realty Trust, Inc.		1,830
	2	Equinix, Inc.		1,004
	97	Weyerhaeuser Co.		2,465
				6,365
		REITs – Health Care — 0.2%
	40	Ventas, Inc.		2,692
	58	Welltower, Inc.		4,821
				7,513
		REITs – Hotels — 0.0%
	136	Host Hotels & Resorts, Inc.		2,365
		REITs – Office Property — 0.5%
	17	Boston Properties, Inc.		2,260
	162	Corporate Office Properties Trust		4,523
	183	Douglas Emmett, Inc.		7,470
	244	Easterly Government Properties, Inc.		4,605
	81	Kilroy Realty Corp.		6,436
				25,294
		REITs – Regional Malls — 0.1%
	7	Macerich Co. (The)		231
	15	Simon Property Group, Inc.		2,433
				2,664
		REITs – Storage — 0.0%
	39	Iron Mountain, Inc.		1,147
	3	Public Storage		728
				1,875
		REITs – Warehouse/Industrials — 0.2%
	49	CyrusOne, Inc.		2,813
	133	Liberty Property Trust		6,956
				9,769
		Road & Rail — 0.5%
	47	Genesee & Wyoming, Inc., Class A(a)		5,161
	30	Kansas City Southern		3,712
	41	Norfolk Southern Corp.		7,836
	44	Ryder System, Inc.		2,343
	30	Union Pacific Corp.		5,399
				24,451
		Semiconductors & Semiconductor Equipment — 2.2%
	15	Advanced Micro Devices, Inc.(a)		457
	93	Applied Materials, Inc.		4,591
	53	Brooks Automation, Inc.		2,056
	33	Cabot Microelectronics Corp.		4,015
	58	Cirrus Logic, Inc.(a)		2,845
	42	Cree, Inc.(a)		2,612
	96	First Solar, Inc.(a)		6,191
	333	Intel Corp.		16,833
	10	Lam Research Corp.		2,086
	12	Microchip Technology, Inc.		1,133
	135	NVIDIA Corp.		22,777
	289	QUALCOMM, Inc.		21,143
	50	Silicon Laboratories, Inc.(a)		5,611
	114	Texas Instruments, Inc.		14,251
				106,601
		Software — 2.4%
	9	Adobe, Inc.(a)		2,690
	202	Autodesk, Inc.(a)		31,546
	34	Blackbaud, Inc.		3,094
	47	Bottomline Technologies, Inc.(a)		1,978
	18	Fair Isaac Corp.(a)		6,254

See accompanying notes to financial statements.

|  42

Portfolio of Investments – as of July 31, 2019 (Unaudited)

Natixis Sustainable Future 2035 Fund – (continued)

Shares		Description	Value (†)
		Software — continued
	28	LogMeIn, Inc.	$	2,127
	187	Microsoft Corp.		25,483
	674	Oracle Corp.		37,946
	44	PTC, Inc.(a)		2,982
	30	Qualys, Inc.(a)		2,597
	3	salesforce.com, inc.(a)		464
	47	Symantec Corp.		1,013
				118,174
		Specialty Retail — 0.7%
	37	Aaron’s, Inc.		2,333
	103	American Eagle Outfitters, Inc.		1,822
	40	Asbury Automotive Group, Inc.(a)		3,683
	21	Best Buy Co., Inc.		1,607
	20	Five Below, Inc.(a)		2,349
	46	Home Depot, Inc. (The)		9,830
	28	Lithia Motors, Inc., Class A		3,693
	26	Lowe’s Cos., Inc.		2,636
	29	Monro, Inc.		2,442
	19	Tiffany & Co.		1,785
	37	Williams-Sonoma, Inc.		2,467
				34,647
		Technology Hardware, Storage & Peripherals — 1.7%
	312	Apple, Inc.		66,468
	304	Hewlett Packard Enterprise Co.		4,368
	221	HP, Inc.		4,650
	97	NCR Corp.(a)		3,280
	18	NetApp, Inc.		1,053
	29	Seagate Technology PLC		1,343
	10	Western Digital Corp.		539
	67	Xerox Corp.		2,151
				83,852
		Textiles, Apparel & Luxury Goods — 0.6%
	24	Deckers Outdoor Corp.(a)		3,751
	26	Hanesbrands, Inc.		418
	26	NIKE, Inc., Class B		2,237
	7	PVH Corp.		623
	971	Under Armour, Inc., Class A(a)		22,401
	89	Wolverine World Wide, Inc.		2,416
				31,846
		Thrifts & Mortgage Finance — 0.1%
	335	New York Community Bancorp, Inc.		3,863
		Trading Companies & Distributors — 0.2%
	88	Fastenal Co.		2,711
	28	GATX Corp.		2,152
	20	United Rentals, Inc.(a)		2,531
	10	W.W. Grainger, Inc.		2,910
				10,304
		Water Utilities — 0.2%
	70	American Water Works Co., Inc.		8,035
	99	Aqua America, Inc.		4,153
				12,188
		Total Common Stocks (Identified Cost $2,589,448)		2,661,147
Principal Amount		Description	Value (†)
	Bonds and Notes — 7.7%
		Agency Commercial Mortgage-Backed Securities — 0.1%
$	4,000	FHLMC Multifamily Structured Pass Through Certificates, Series K012, Class A2, 4.185%, 12/25/2020(b)	$	4,088
		Automotive — 0.1%
	3,000	General Motors Financial Co., Inc., 4.350%, 1/17/2027		3,072
	3,000	Toyota Motor Credit Corp., MTN, 2.600%, 1/11/2022		3,028
				6,100
		Banking — 1.0%
	3,000	American Express Co., 3.700%, 8/03/2023		3,133
	3,000	Bank of America Corp., (fixed rate to 1/20/2022, variable rate thereafter), MTN, 3.124%, 1/20/2023		3,044
	3,000	Bank of Montreal, MTN, 1.900%, 8/27/2021		2,981
	3,000	Bank of New York Mellon Corp. (The), Series 10YR, MTN, 3.650%, 2/04/2024		3,162
	3,000	BNP Paribas S.A., MTN, 3.250%, 3/03/2023		3,095
	3,000	Capital One Financial Corp., 3.300%, 10/30/2024		3,106
	3,000	Citigroup, Inc., 4.600%, 3/09/2026		3,241
	2,000	Deutsche Bank AG, GMTN, 3.375%, 5/12/2021		1,991
	3,000	Goldman Sachs Group, Inc. (The), 3.750%, 5/22/2025		3,133
	3,000	HSBC Holdings PLC, 5.100%, 4/05/2021		3,131
	3,000	JPMorgan Chase & Co., (fixed rate to 3/01/2024, variable rate thereafter), 3.220%, 3/01/2025		3,079
	3,000	Morgan Stanley, Series F, 3.875%, 4/29/2024		3,169
	3,000	Royal Bank of Canada, GMTN, 2.150%, 3/06/2020		2,997
	3,000	Santander UK PLC, 2.375%, 3/16/2020		2,998
	3,000	SunTrust Bank, 2.250%, 1/31/2020		2,997
	3,000	Wells Fargo & Co., MTN, 3.000%, 2/19/2025		3,055
	4,000	Westpac Banking Corp., 2.750%, 1/11/2023		4,048
				52,360
		Cable Satellite — 0.1%
	3,000	Comcast Corp., 3.000%, 2/01/2024		3,079
		Construction Machinery — 0.1%
	3,000	John Deere Capital Corp., MTN, 2.650%, 1/06/2022		3,030
		Consumer Cyclical Services — 0.1%
	3,000	eBay, Inc., 3.800%, 3/09/2022		3,095
		Electric — 0.1%
	3,000	Duke Energy Corp., 3.750%, 4/15/2024		3,152
	3,000	Virginia Electric & Power Co., Series A, 3.150%, 1/15/2026		3,107
				6,259
		Financial Other — 0.1%
	3,000	ORIX Corp., 2.900%, 7/18/2022		3,049
		Food & Beverage — 0.1%
	3,000	General Mills, Inc., 4.000%, 4/17/2025		3,184
		Government Owned – No Guarantee — 0.2%
	8,000	Federal National Mortgage Association, 6.625%, 11/15/2030		11,397
		Health Insurance — 0.2%
	4,000	Anthem, Inc., 4.101%, 3/01/2028		4,254
	3,000	UnitedHealth Group, Inc., 5.800%, 3/15/2036		3,898
				8,152
		Healthcare — 0.2%
	3,000	CVS Health Corp., 3.875%, 7/20/2025		3,131
	3,000	Express Scripts Holding Co., 4.500%, 2/25/2026		3,245
	3,000	McKesson Corp., 3.950%, 2/16/2028		3,113
				9,489

See accompanying notes to financial statements.

43  |

Portfolio of Investments – as of July 31, 2019 (Unaudited)

Natixis Sustainable Future 2035 Fund – (continued)

Principal Amount		Description	Value (†)
		Independent Energy — 0.1%
$	3,000	EQT Corp., 3.000%, 10/01/2022	$	2,918
		Integrated Energy — 0.2%
	3,000	BP Capital Markets PLC, 3.814%, 2/10/2024		3,169
	3,000	Chevron Corp., 1.961%, 3/03/2020		2,997
	3,000	Shell International Finance BV, 6.375%, 12/15/2038		4,294
				10,460
		Life Insurance — 0.1%
	4,000	American International Group, Inc., 3.900%, 4/01/2026		4,220
		Media Entertainment — 0.1%
	3,000	Viacom, Inc., 6.875%, 4/30/2036		3,801
		Midstream — 0.2%
	3,000	Energy Transfer Operating LP, 4.050%, 3/15/2025		3,122
	3,000	Enterprise Products Operating LLC, 2.550%, 10/15/2019		3,000
	3,000	Kinder Morgan Energy Partners LP, 4.150%, 2/01/2024		3,163
				9,285
		Mortgage Related — 1.6%
	30,276	FNMA, 3.000%, with various maturities from 2034 to 2049(c)		30,694
	32,318	FNMA, 3.500%, 6/01/2049		33,127
	9,071	FNMA, 4.000%, 2/01/2049		9,387
	7,790	FNMA, 4.500%, 5/01/2049		8,170
				81,378
		Oil Field Services — 0.1%
	3,000	Baker Hughes a GE Co. LLC/Baker HughesCo-Obligor, Inc., 2.773%, 12/15/2022		3,024
		Pharmaceuticals — 0.1%
	3,000	AbbVie, Inc., 3.600%, 5/14/2025		3,095
	4,000	Amgen, Inc., 2.650%, 5/11/2022		4,023
				7,118
		Railroads — 0.1%
	3,000	CSX Corp., 2.600%, 11/01/2026		2,996
		REITs – Office Property — 0.0%
	2,000	Boston Properties LP, 2.750%, 10/01/2026		1,988
		Restaurants — 0.1%
	3,000	Starbucks Corp., 3.800%, 8/15/2025		3,188
		Technology — 0.3%
	3,000	Apple, Inc., 2.500%, 2/09/2025		3,025
	4,000	International Business Machines Corp., 4.000%, 6/20/2042		4,214
	3,000	Oracle Corp., 2.950%, 5/15/2025		3,078
	3,000	QUALCOMM, Inc., 3.450%, 5/20/2025		3,125
	4,000	VMware, Inc., 2.950%, 8/21/2022		4,030
				17,472
		Treasuries — 2.1%
	4,000	U.S. Treasury Bond, 2.500%, 5/15/2046		3,976
	7,000	U.S. Treasury Bond, 2.875%, 11/15/2046		7,486
	12,000	U.S. Treasury Bond, 3.000%, 5/15/2045		13,113
	4,000	U.S. Treasury Bond, 3.000%, 2/15/2048		4,379
	4,000	U.S. Treasury Bond, 3.000%, 2/15/2049		4,390
	3,000	U.S. Treasury Bond, 4.250%, 11/15/2040		3,932
	3,000	U.S. Treasury Bond, 4.375%, 5/15/2041		4,002
	7,000	U.S. Treasury Bond, 5.250%, 2/15/2029		8,963
	22,000	U.S. Treasury Note, 1.125%, 4/30/2020		21,838
	5,000	U.S. Treasury Note, 1.125%, 9/30/2021		4,920
	6,000	U.S. Treasury Note, 1.625%, 8/31/2022		5,958
	3,000	U.S. Treasury Note, 1.750%, 5/15/2023		2,988
	3,000	U.S. Treasury Note, 2.000%, 11/15/2026		3,011
	5,000	U.S. Treasury Note, 2.125%, 12/31/2022		5,046
		Treasuries — continued
$	1,000	U.S. Treasury Note, 2.250%, 11/15/2025	$	1,020
	4,000	U.S. Treasury Note, 2.250%, 11/15/2027		4,081
	4,000	U.S. Treasury Note, 2.625%, 2/15/2029		4,208
	3,000	U.S. Treasury Note, 2.875%, 9/30/2023		3,122
				106,433
		Wireless — 0.1%
	4,000	Vodafone Group PLC, 6.150%, 2/27/2037		4,904
		Wirelines — 0.1%
	3,000	AT&T, Inc., 3.400%, 5/15/2025		3,086
	3,000	AT&T, Inc., 3.875%, 1/15/2026		3,158
				6,244
		Total Bonds and Notes (Identified Cost $371,079)		378,711
Shares
	Exchange-Traded Funds — 12.4%
	6,722	iShares® ESG MSCI EAFE ETF		424,360
	5,596	iShares® ESG MSCI Emerging Markets ETF		186,514
		Total Exchange-Traded Funds (Identified Cost $597,105)		610,874
	Affiliated Mutual Funds — 23.8%
	17,124	Loomis Sayles Inflation Protected Securities Fund, Class N		180,655
	13,662	Loomis Sayles Limited Term Government and Agency Fund, Class N		154,793
	19,715	Mirova Global Green Bond Fund, Class N		208,187
	56,597	Mirova International Sustainable Equity Fund, Class N		634,457
		Total Affiliated Mutual Funds (Identified Cost $1,147,423)		1,178,092
		Total Investments — 97.7% (Identified Cost $4,705,055)		4,828,824
		Other assets less liabilities — 2.3%		114,341
		Net Assets — 100.0%	$	4,943,165
	(†)	See Note 2 of Notes to Financial Statements.
	(a)	Non-income producing security.
	(b)	Variable rate security. The interest rate adjusts periodically based on; (i) changes in current interest rates and/or prepayments on underlying pools of assets, if applicable, (ii) reference to a base lending rate plus or minus a margin, and/or (iii) reference to a base lending rate adjusted by a multiplier and/or subject to certain floors or caps. Rate as of July 31, 2019 is disclosed.
	(c)	The Fund’s investment in mortgage related securities of Federal National Mortgage Association are interests in separate pools of mortgages. All separate investments in securities of each issuer which have the same coupon rate have been aggregated for the purpose of presentation in the Portfolio of Investments.
	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.
	ETF	Exchange-Traded Fund
	FHLMC	Federal Home Loan Mortgage Corp.
	FNMA	Federal National Mortgage Association
	GMTN	Global Medium Term Note
	MTN	Medium Term Note
	REITs	Real Estate Investment Trusts

See accompanying notes to financial statements.

|  44

Portfolio of Investments – as of July 31, 2019 (Unaudited)

Natixis Sustainable Future 2035 Fund – (continued)

Asset Allocation Summary at July 31, 2019 (Unaudited)

Equity	79.0	%
Fixed Income	18.7
Total Investments	97.7
Other assets less liabilities	2.3
Net Assets	100.0	%

See accompanying notes to financial statements.

45  |

Portfolio of Investments – as of July 31, 2019 (Unaudited)

Natixis Sustainable Future 2040 Fund

Shares		Description	Value (†)
	Common Stocks — 56.9% of Net Assets
		Aerospace & Defense — 0.4%
	19	Axon Enterprise, Inc.(a)	$	1,334
	30	Moog, Inc., Class A		2,444
	3	Raytheon Co.		547
	15	Teledyne Technologies, Inc.(a)		4,369
	37	United Technologies Corp.		4,943
				13,637
		Air Freight & Logistics — 0.9%
	287	Expeditors International of Washington, Inc.		21,913
	40	FedEx Corp.		6,821
	41	United Parcel Service, Inc., Class B		4,898
				33,632
		Airlines — 0.2%
	291	American Airlines Group, Inc.		8,878
		Auto Components — 0.4%
	124	American Axle & Manufacturing Holdings, Inc.(a)		1,497
	88	Aptiv PLC		7,713
	17	BorgWarner, Inc.		642
	131	Delphi Technologies PLC		2,455
	25	Visteon Corp.(a)		1,647
				13,954
		Automobiles — 0.7%
	956	Fiat Chrysler Automobiles NV		12,610
	333	General Motors Co.		13,433
				26,043
		Banks — 3.8%
	75	Ameris Bancorp		2,983
	134	BancorpSouth Bank		4,005
	757	Bank of America Corp.		23,225
	116	BB&T Corp.		5,977
	342	Citigroup, Inc.		24,337
	140	Citizens Financial Group, Inc.		5,216
	107	Columbia Banking System, Inc.		4,035
	13	Comerica, Inc.		951
	271	CVB Financial Corp.		5,965
	236	Fulton Financial Corp.		4,012
	107	Huntington Bancshares, Inc.		1,525
	125	International Bancshares Corp.		4,704
	214	KeyCorp		3,931
	21	M&T Bank Corp.		3,449
	379	People’s United Financial, Inc.		6,223
	73	PNC Financial Services Group, Inc. (The)		10,432
	133	Regions Financial Corp.		2,119
	193	Trustmark Corp.		6,859
	283	Wells Fargo & Co.		13,700
	67	Westamerica Bancorporation		4,295
	49	Wintrust Financial Corp.		3,505
	52	Zions Bancorp N.A.		2,344
				143,792
		Beverages — 1.7%
	40	Brown-Forman Corp., Class B		2,192
	355	Coca-Cola Co. (The)		18,684
	58	Constellation Brands, Inc., Class A		11,416
	436	Monster Beverage Corp.(a)		28,109
	42	PepsiCo, Inc.		5,368
				65,769
		Biotechnology — 1.8%
	21	AbbVie, Inc.		1,399
	67	Amgen, Inc.		12,501
	6	Biogen, Inc.(a)		1,427
		Biotechnology — continued
	117	BioMarin Pharmaceutical, Inc.(a)	$	9,280
	20	Celgene Corp.(a)		1,837
	50	Gilead Sciences, Inc.		3,276
	19	Ligand Pharmaceuticals, Inc.(a)		1,739
	72	Medicines Co. (The)(a)		2,581
	96	Regeneron Pharmaceuticals, Inc.(a)		29,257
	36	Repligen Corp.(a)		3,398
	2	Vertex Pharmaceuticals, Inc.(a)		333
				67,028
		Building Products — 0.4%
	208	Johnson Controls International PLC		8,827
	20	Lennox International, Inc.		5,130
				13,957
		Capital Markets — 4.1%
	4	Affiliated Managers Group, Inc.		343
	10	Ameriprise Financial, Inc.		1,455
	395	Bank of New York Mellon Corp. (The)		18,533
	11	BlackRock, Inc.		5,144
	395	Charles Schwab Corp. (The)		17,072
	17	CME Group, Inc.		3,305
	56	FactSet Research Systems, Inc.		15,529
	73	Franklin Resources, Inc.		2,382
	44	Goldman Sachs Group, Inc. (The)		9,686
	10	Intercontinental Exchange, Inc.		879
	46	Invesco Ltd.		883
	96	Janus Henderson Group PLC		1,927
	100	Legg Mason, Inc.		3,766
	70	Moody’s Corp.		15,004
	66	MSCI, Inc.		14,998
	44	Northern Trust Corp.		4,312
	39	S&P Global, Inc.		9,553
	245	SEI Investments Co.		14,599
	291	State Street Corp.		16,904
				156,274
		Chemicals — 0.7%
	24	Ecolab, Inc.		4,841
	57	HB Fuller Co.		2,725
	37	Innospec, Inc.		3,455
	5	International Flavors & Fragrances, Inc.		720
	46	Linde PLC		8,799
	44	Minerals Technologies, Inc.		2,343
	25	Stepan Co.		2,479
				25,362
		Commercial Services & Supplies — 0.3%
	48	Healthcare Services Group, Inc.		1,147
	28	MSA Safety, Inc.		2,950
	39	Tetra Tech, Inc.		3,089
	20	Waste Management, Inc.		2,340
				9,526
		Communications Equipment — 0.8%
	63	Ciena Corp.(a)		2,849
	396	Cisco Systems, Inc.		21,938
	33	InterDigital, Inc.		2,126
	39	Lumentum Holdings, Inc.(a)		2,209
	8	Motorola Solutions, Inc.		1,328
				30,450
		Construction & Engineering — 0.1%
	126	AECOM(a)		4,530

See accompanying notes to financial statements.

|  46

Portfolio of Investments – as of July 31, 2019 (Unaudited)

Natixis Sustainable Future 2040 Fund – (continued)

Shares		Description	Value (†)
		Consumer Finance — 0.9%
	97	American Express Co.	$	12,064
	236	Capital One Financial Corp.		21,811
	48	Navient Corp.		679
				34,554
		Containers & Packaging — 0.2%
	58	Ball Corp.		4,146
	12	Crown Holdings, Inc.(a)		768
	41	International Paper Co.		1,800
	117	Owens-Illinois, Inc.		1,986
				8,700
		Distributors — 0.2%
	32	Genuine Parts Co.		3,108
	19	POOL CORP.		3,598
				6,706
		Diversified Consumer Services — 0.1%
	83	Service Corp. International		3,830
		Diversified Telecommunication Services — 0.1%
	78	AT&T, Inc.		2,656
	41	Verizon Communications, Inc.		2,266
				4,922
		Electric Utilities — 0.4%
	106	American Electric Power Co., Inc.		9,308
	14	Edison International		1,044
	18	Eversource Energy		1,365
	37	IDACORP, Inc.		3,776
				15,493
		Electrical Equipment — 0.2%
	13	Acuity Brands, Inc.		1,745
	36	Eaton Corp. PLC		2,959
	24	Hubbell, Inc.		3,117
				7,821
		Electronic Equipment, Instruments & Components — 1.0%
	67	Avnet, Inc.		3,043
	28	Belden, Inc.		1,273
	68	Cognex Corp.		2,993
	16	Coherent, Inc.(a)		2,222
	14	Littelfuse, Inc.		2,365
	12	Rogers Corp.(a)		1,904
	167	TE Connectivity Ltd.		15,431
	85	Trimble, Inc.(a)		3,592
	133	Vishay Intertechnology, Inc.		2,261
	17	Zebra Technologies Corp., Class A(a)		3,585
				38,669
		Energy Equipment & Services — 0.8%
	41	Apergy Corp.(a)		1,334
	50	Baker Hughes, a GE Co.		1,270
	85	C&J Energy Services, Inc.(a)		930
	24	Core Laboratories NV		1,204
	204	Halliburton Co.		4,692
	71	National Oilwell Varco, Inc.		1,691
	78	Oceaneering International, Inc.(a)		1,205
	69	Oil States International, Inc.(a)		1,029
	318	Schlumberger Ltd.		12,710
	48	TechnipFMC PLC		1,322
	116	U.S. Silica Holdings, Inc.		1,608
				28,995
		Entertainment — 1.1%
	31	Activision Blizzard, Inc.		1,511
	58	Cinemark Holdings, Inc.		2,315
		Entertainment — continued
	14	Electronic Arts, Inc.(a)	$	1,295
	63	Netflix, Inc.(a)		20,349
	4	Take-Two Interactive Software, Inc.(a)		490
	14	Viacom, Inc., Class B		425
	116	Walt Disney Co. (The)		16,589
				42,974
		Food & Staples Retailing — 0.2%
	76	Kroger Co. (The)		1,608
	226	SpartanNash Co.		2,671
	13	Sysco Corp.		892
	18	Walgreens Boots Alliance, Inc.		981
				6,152
		Food Products — 0.7%
	59	Campbell Soup Co.		2,439
	738	Danone S.A., Sponsored ADR		12,708
	20	General Mills, Inc.		1,062
	77	Hain Celestial Group, Inc. (The)(a)		1,676
	3	Hershey Co. (The)		455
	23	Ingredion, Inc.		1,778
	12	J.M. Smucker Co. (The)		1,334
	15	Kellogg Co.		873
	64	Kraft Heinz Co. (The)		2,049
	9	Mondelez International, Inc., Class A		482
				24,856
		Gas Utilities — 0.3%
	75	New Jersey Resources Corp.		3,740
	42	ONE Gas, Inc.		3,830
	79	South Jersey Industries, Inc.		2,690
				10,260
		Health Care Equipment & Supplies — 0.8%
	18	Alcon, Inc.(a)		1,057
	6	Align Technology, Inc.(a)		1,254
	2	Becton Dickinson and Co.		506
	11	Boston Scientific Corp.(a)		467
	4	Danaher Corp.		562
	13	DENTSPLY SIRONA, Inc.		708
	2	Edwards Lifesciences Corp.(a)		426
	41	Globus Medical, Inc.(a)		1,869
	19	Haemonetics Corp.(a)		2,320
	1	Intuitive Surgical, Inc.(a)		519
	142	Meridian Bioscience, Inc.		1,697
	31	Merit Medical Systems, Inc.(a)		1,223
	41	STERIS PLC		6,103
	2	Stryker Corp.		420
	75	Varian Medical Systems, Inc.(a)		8,803
	27	West Pharmaceutical Services, Inc.		3,706
				31,640
		Health Care Providers & Services — 1.4%
	43	Acadia Healthcare Co., Inc.(a)		1,373
	12	Amedisys, Inc.(a)		1,655
	4	Anthem, Inc.		1,178
	30	BioTelemetry, Inc.(a)		1,408
	75	Centene Corp.(a)		3,907
	9	Chemed Corp.		3,649
	6	Cigna Corp.		1,020
	263	CVS Health Corp.		14,694
	35	Encompass Health Corp.		2,234
	60	HCA Healthcare, Inc.		8,011
	27	Henry Schein, Inc.(a)		1,797
	4	Humana, Inc.		1,187
	12	Laboratory Corp. of America Holdings(a)		2,010

See accompanying notes to financial statements.

47  |

Portfolio of Investments – as of July 31, 2019 (Unaudited)

Natixis Sustainable Future 2040 Fund – (continued)

Shares		Description	Value (†)
		Health Care Providers & Services — continued
	39	MEDNAX, Inc.(a)	$	958
	63	Patterson Cos., Inc.		1,247
	20	Quest Diagnostics, Inc.		2,042
	15	UnitedHealth Group, Inc.		3,735
				52,105
		Health Care Technology — 0.5%
	136	Allscripts Healthcare Solutions, Inc.(a)		1,401
	204	Cerner Corp.		14,616
	32	Medidata Solutions, Inc.(a)		2,924
				18,941
		Hotels, Restaurants & Leisure — 2.4%
	12	Domino’s Pizza, Inc.		2,934
	36	Dunkin’ Brands Group, Inc.		2,886
	98	Hilton Worldwide Holdings, Inc.		9,462
	22	Jack in the Box, Inc.		1,580
	23	Marriott Vacations Worldwide Corp.		2,351
	4	McDonald’s Corp.		843
	427	MGM Resorts International		12,818
	36	Six Flags Entertainment Corp.		1,902
	256	Starbucks Corp.		24,241
	135	Wendy’s Co. (The)		2,456
	422	Yum China Holdings, Inc.		19,201
	86	Yum! Brands, Inc.		9,677
				90,351
		Household Durables — 0.3%
	14	iRobot Corp.(a)		1,023
	108	KB Home		2,837
	81	Meritage Homes Corp.(a)		5,088
	51	Tupperware Brands Corp.		781
				9,729
		Household Products — 0.9%
	163	Colgate-Palmolive Co.		11,693
	198	Procter & Gamble Co. (The)		23,372
				35,065
		Independent Power & Renewable Electricity Producers — 0.2%
	69	AES Corp. (The)		1,159
	64	Ormat Technologies, Inc.		4,195
	151	Pattern Energy Group, Inc.		3,462
				8,816
		Industrial Conglomerates — 0.4%
	1,459	General Electric Co.		15,247
		Insurance — 1.3%
	11	Aflac, Inc.		579
	36	Allstate Corp. (The)		3,866
	297	American International Group, Inc.		16,629
	9	Brighthouse Financial, Inc.(a)		353
	60	Chubb Ltd.		9,171
	62	First American Financial Corp.		3,585
	20	Hartford Financial Services Group, Inc. (The)		1,153
	12	Lincoln National Corp.		784
	24	Marsh & McLennan Cos., Inc.		2,371
	20	MetLife, Inc.		988
	62	Prudential Financial, Inc.		6,281
	28	Travelers Cos., Inc. (The)		4,105
				49,865
		Interactive Media & Services — 2.8%
	15	Alphabet, Inc., Class A(a)		18,273
	33	Alphabet, Inc., Class C(a)		40,150
	242	Facebook, Inc., Class A(a)		47,004
	8	TripAdvisor, Inc.(a)		353
				105,780
		Internet & Direct Marketing Retail — 2.8%
	182	Alibaba Group Holding Ltd., Sponsored ADR(a)	$	31,506
	24	Amazon.com, Inc.(a)		44,803
	10	Booking Holdings, Inc.(a)		18,866
	286	eBay, Inc.		11,780
				106,955
		IT Services — 3.0%
	92	Automatic Data Processing, Inc.		15,320
	10	Cognizant Technology Solutions Corp., Class A		651
	157	DXC Technology Co.		8,756
	63	Gartner, Inc.(a)		8,778
	11	International Business Machines Corp.		1,631
	51	Leidos Holdings, Inc.		4,187
	56	MasterCard, Inc., Class A		15,247
	15	PayPal Holdings, Inc.(a)		1,656
	184	Sabre Corp.		4,326
	265	Visa, Inc., Class A		47,170
	54	Western Union Co. (The)		1,134
	19	WEX, Inc.(a)		4,143
				112,999
		Leisure Products — 0.0%
	92	Callaway Golf Co.		1,687
		Life Sciences Tools & Services — 0.1%
	1	Illumina, Inc.(a)		299
	11	IQVIA Holdings, Inc.(a)		1,751
	8	Thermo Fisher Scientific, Inc.		2,222
				4,272
		Machinery — 2.4%
	47	AGCO Corp.		3,619
	108	Caterpillar, Inc.		14,220
	66	Cummins, Inc.		10,824
	112	Deere & Co.		18,553
	48	Flowserve Corp.		2,401
	35	IDEX Corp.		5,888
	60	ITT, Inc.		3,745
	76	Kennametal, Inc.		2,628
	47	Oshkosh Corp.		3,928
	100	Parker Hannifin Corp.		17,508
	15	Proto Labs, Inc.(a)		1,561
	66	Terex Corp.		2,010
	52	Toro Co. (The)		3,787
	8	Xylem, Inc.		642
				91,314
		Media — 1.2%
	3	Cable One, Inc.		3,650
	22	CBS Corp., Class B		1,133
	42	Charter Communications, Inc., Class A(a)		16,186
	364	Comcast Corp., Class A		15,714
	39	Discovery, Inc., Series C(a)		1,101
	18	Interpublic Group of Cos., Inc. (The)		413
	72	New York Times Co. (The), Class A		2,569
	110	News Corp., Class A		1,448
	27	Omnicom Group, Inc.		2,166
				44,380
		Metals & Mining — 0.4%
	110	Commercial Metals Co.		1,926
	115	Newmont Goldcorp Corp.		4,200
	19	Nucor Corp.		1,033
	48	Reliance Steel & Aluminum Co.		4,798
	31	Royal Gold, Inc.		3,548
				15,505

See accompanying notes to financial statements.

|  48

Portfolio of Investments – as of July 31, 2019 (Unaudited)

Natixis Sustainable Future 2040 Fund – (continued)

Shares		Description	Value (†)
		Multi-Utilities — 0.2%
	62	Consolidated Edison, Inc.	$	5,268
	11	DTE Energy Co.		1,398
	16	Sempra Energy		2,167
				8,833
		Multiline Retail — 0.0%
	13	Macy’s, Inc.		295
	15	Target Corp.		1,296
				1,591
		Oil, Gas & Consumable Fuels — 1.3%
	375	Apache Corp.		9,157
	2,112	Chesapeake Energy Corp.(a)		3,823
	71	Concho Resources, Inc.		6,935
	731	Denbury Resources, Inc.(a)		826
	64	Diamondback Energy, Inc.		6,619
	71	EOG Resources, Inc.		6,095
	123	EQT Corp.		1,859
	98	Green Plains, Inc.		989
	54	Hess Corp.		3,501
	121	Noble Energy, Inc.		2,672
	44	ONEOK, Inc.		3,084
	32	Valero Energy Corp.		2,728
	63	World Fuel Services Corp.		2,460
				50,748
		Paper & Forest Products — 0.1%
	50	Domtar Corp.		2,123
	81	Louisiana-Pacific Corp.		2,117
				4,240
		Personal Products — 0.0%
	4	Estee Lauder Cos., Inc. (The), Class A		737
		Pharmaceuticals — 1.0%
	3	Allergan PLC		482
	20	Bristol-Myers Squibb Co.		888
	57	Catalent, Inc.(a)		3,220
	16	Eli Lilly & Co.		1,743
	89	Merck & Co., Inc.		7,386
	84	Novartis AG, Sponsored ADR		7,693
	288	Novo Nordisk AS, Sponsored ADR		13,801
	17	Perrigo Co. PLC		918
	91	Pfizer, Inc.		3,534
				39,665
		Professional Services — 0.3%
	48	Exponent, Inc.		3,302
	19	Insperity, Inc.		2,021
	54	Korn Ferry		2,121
	29	ManpowerGroup, Inc.		2,649
	28	Nielsen Holdings PLC		649
				10,742
		Real Estate Management & Development — 0.1%
	17	CBRE Group, Inc., Class A(a)		901
	24	Jones Lang LaSalle, Inc.		3,497
				4,398
		REITs – Apartments — 0.4%
	92	American Campus Communities, Inc.		4,301
	4	AvalonBay Communities, Inc.		835
	61	Camden Property Trust		6,326
	10	Equity Residential		789
	5	Essex Property Trust, Inc.		1,511
	4	Mid-America Apartment Communities, Inc.		472
				14,234
		REITs – Diversified — 0.1%
	7	Crown Castle International Corp.	$	933
	11	Digital Realty Trust, Inc.		1,258
	2	Equinix, Inc.		1,004
	71	Weyerhaeuser Co.		1,804
				4,999
		REITs – Health Care — 0.2%
	28	Ventas, Inc.		1,884
	48	Welltower, Inc.		3,990
				5,874
		REITs – Hotels — 0.0%
	102	Host Hotels & Resorts, Inc.		1,774
		REITs – Office Property — 0.5%
	10	Boston Properties, Inc.		1,330
	132	Corporate Office Properties Trust		3,685
	156	Douglas Emmett, Inc.		6,368
	199	Easterly Government Properties, Inc.		3,755
	69	Kilroy Realty Corp.		5,483
				20,621
		REITs – Regional Malls — 0.1%
	7	Macerich Co. (The)		231
	12	Simon Property Group, Inc.		1,947
				2,178
		REITs – Storage — 0.0%
	28	Iron Mountain, Inc.		823
	2	Public Storage		486
				1,309
		REITs – Warehouse/Industrials — 0.2%
	43	CyrusOne, Inc.		2,468
	113	Liberty Property Trust		5,910
				8,378
		Road & Rail — 0.5%
	40	Genesee & Wyoming, Inc., Class A(a)		4,392
	22	Kansas City Southern		2,722
	31	Norfolk Southern Corp.		5,925
	38	Ryder System, Inc.		2,024
	23	Union Pacific Corp.		4,139
				19,202
		Semiconductors & Semiconductor Equipment — 2.3%
	15	Advanced Micro Devices, Inc.(a)		457
	69	Applied Materials, Inc.		3,406
	52	Brooks Automation, Inc.		2,018
	27	Cabot Microelectronics Corp.		3,285
	51	Cirrus Logic, Inc.(a)		2,502
	36	Cree, Inc.(a)		2,238
	84	First Solar, Inc.(a)		5,417
	287	Intel Corp.		14,508
	7	Lam Research Corp.		1,460
	9	Microchip Technology, Inc.		850
	108	NVIDIA Corp.		18,222
	233	QUALCOMM, Inc.		17,046
	40	Silicon Laboratories, Inc.(a)		4,488
	96	Texas Instruments, Inc.		12,001
				87,898
		Software — 2.6%
	7	Adobe, Inc.(a)		2,092
	165	Autodesk, Inc.(a)		25,768
	29	Blackbaud, Inc.		2,639
	45	Bottomline Technologies, Inc.(a)		1,894
	14	Fair Isaac Corp.(a)		4,864

See accompanying notes to financial statements.

49  |

Portfolio of Investments – as of July 31, 2019 (Unaudited)

Natixis Sustainable Future 2040 Fund – (continued)

Shares		Description	Value (†)
		Software — continued
	24	LogMeIn, Inc.	$	1,823
	148	Microsoft Corp.		20,168
	563	Oracle Corp.		31,697
	37	PTC, Inc.(a)		2,508
	26	Qualys, Inc.(a)		2,251
	3	salesforce.com, inc.(a)		463
	33	Symantec Corp.		711
				96,878
		Specialty Retail — 0.7%
	30	Aaron’s, Inc.		1,892
	90	American Eagle Outfitters, Inc.		1,592
	32	Asbury Automotive Group, Inc.(a)		2,947
	11	Best Buy Co., Inc.		842
	16	Five Below, Inc.(a)		1,879
	35	Home Depot, Inc. (The)		7,479
	25	Lithia Motors, Inc., Class A		3,297
	20	Lowe’s Cos., Inc.		2,028
	25	Monro, Inc.		2,105
	14	Tiffany & Co.		1,315
	33	Williams-Sonoma, Inc.		2,200
				27,576
		Technology Hardware, Storage & Peripherals — 1.7%
	233	Apple, Inc.		49,638
	232	Hewlett Packard Enterprise Co.		3,334
	163	HP, Inc.		3,430
	83	NCR Corp.(a)		2,806
	15	NetApp, Inc.		877
	23	Seagate Technology PLC		1,065
	9	Western Digital Corp.		485
	47	Xerox Corp.		1,509
				63,144
		Textiles, Apparel & Luxury Goods — 0.7%
	20	Deckers Outdoor Corp.(a)		3,125
	32	Hanesbrands, Inc.		515
	21	NIKE, Inc., Class B		1,807
	5	PVH Corp.		445
	789	Under Armour, Inc., Class A(a)		18,202
	76	Wolverine World Wide, Inc.		2,063
				26,157
		Thrifts & Mortgage Finance — 0.1%
	288	New York Community Bancorp, Inc.		3,321
		Trading Companies & Distributors — 0.2%
	72	Fastenal Co.		2,218
	27	GATX Corp.		2,075
	14	United Rentals, Inc.(a)		1,772
	8	W.W. Grainger, Inc.		2,328
				8,393
		Water Utilities — 0.2%
	52	American Water Works Co., Inc.		5,968
	81	Aqua America, Inc.		3,398
				9,366
		Total Common Stocks (Identified Cost $2,110,168)		2,163,671
Principal Amount		Description	Value (†)
	Bonds and Notes — 4.2%
		Agency Commercial Mortgage-Backed Securities — 0.1%
$	2,000	FHLMC Multifamily Structured Pass Through Certificates, Series K012, Class A2, 4.185%, 12/25/2020(b)	$	2,044
		Automotive — 0.1%
	2,000	Toyota Motor Credit Corp., MTN, 2.600%, 1/11/2022		2,018
		Banking — 0.8%
	2,000	American Express Co., 3.700%, 8/03/2023		2,089
	2,000	Bank of America Corp., (fixed rate to 1/20/2022, variable rate thereafter), MTN, 3.124%, 1/20/2023		2,029
	2,000	Bank of Montreal, MTN, 1.900%, 8/27/2021		1,987
	2,000	Bank of New York Mellon Corp. (The), Series 10YR, MTN, 3.650%, 2/04/2024		2,108
	2,000	BNP Paribas S.A., MTN, 3.250%, 3/03/2023		2,064
	2,000	Capital One Financial Corp., 3.300%, 10/30/2024		2,071
	1,000	Citigroup, Inc., 4.600%, 3/09/2026		1,080
	1,000	Deutsche Bank AG, GMTN, 3.375%, 5/12/2021		995
	2,000	Goldman Sachs Group, Inc. (The), 3.750%, 5/22/2025		2,089
	2,000	HSBC Holdings PLC, 5.100%, 4/05/2021		2,087
	2,000	JPMorgan Chase & Co., (fixed rate to 3/01/2024, variable rate thereafter), 3.220%, 3/01/2025		2,053
	2,000	Morgan Stanley, Series F, 3.875%, 4/29/2024		2,113
	1,000	Royal Bank of Canada, GMTN, 2.150%, 3/06/2020		999
	1,000	Santander UK PLC, 2.375%, 3/16/2020		999
	2,000	SunTrust Bank, 2.250%, 1/31/2020		1,998
	2,000	Wells Fargo & Co., MTN, 3.000%, 2/19/2025		2,037
	2,000	Westpac Banking Corp., 2.750%, 1/11/2023		2,024
				30,822
		Cable Satellite — 0.1%
	2,000	Comcast Corp., 3.000%, 2/01/2024		2,053
		Construction Machinery — 0.1%
	2,000	John Deere Capital Corp., MTN, 2.650%, 1/06/2022		2,020
		Consumer Cyclical Services — 0.1%
	2,000	eBay, Inc., 3.800%, 3/09/2022		2,064
		Electric — 0.1%
	2,000	Duke Energy Corp., 3.750%, 4/15/2024		2,101
	2,000	Virginia Electric & Power Co., Series A, 3.150%, 1/15/2026		2,072
				4,173
		Food & Beverage — 0.1%
	2,000	General Mills, Inc., 4.000%, 4/17/2025		2,123
		Government Owned – No Guarantee — 0.1%
	4,000	Federal National Mortgage Association, 6.625%, 11/15/2030		5,699
		Health Insurance — 0.1%
	2,000	Anthem, Inc., 4.101%, 3/01/2028		2,127
	1,000	UnitedHealth Group, Inc., 5.800%, 3/15/2036		1,299
				3,426
		Healthcare — 0.1%
	2,000	CVS Health Corp., 3.875%, 7/20/2025		2,087
	2,000	Express Scripts Holding Co., 4.500%, 2/25/2026		2,163
	2,000	McKesson Corp., 3.950%, 2/16/2028		2,076
				6,326
		Integrated Energy — 0.1%
	2,000	BP Capital Markets PLC, 3.814%, 2/10/2024		2,113
	1,000	Chevron Corp., 1.961%, 3/03/2020		999
	2,000	Shell International Finance BV, 6.375%, 12/15/2038		2,863
				5,975

See accompanying notes to financial statements.

|  50

Portfolio of Investments – as of July 31, 2019 (Unaudited)

Natixis Sustainable Future 2040 Fund – (continued)

Principal Amount		Description	Value (†)
		Life Insurance — 0.1%
$	2,000	American International Group, Inc., 3.900%, 4/01/2026	$	2,110
		Midstream — 0.1%
	2,000	Enterprise Products Operating LLC, 2.550%, 10/15/2019		2,000
	2,000	Kinder Morgan Energy Partners LP, 4.150%, 2/01/2024		2,109
				4,109
		Mortgage Related — 0.8%
	12,692	FNMA, 3.000%, with various maturities from 2034 to 2049(c)		12,868
	13,478	FNMA, 3.500%, 6/01/2049		13,816
	4,536	FNMA, 4.000%, 2/01/2049		4,693
	2,921	FNMA, 4.500%, 5/01/2049		3,064
				34,441
		Oil Field Services — 0.1%
	2,000	Baker Hughes a GE Co. LLC/Baker HughesCo-Obligor, Inc., 2.773%, 12/15/2022		2,016
		Pharmaceuticals — 0.1%
	2,000	AbbVie, Inc., 3.600%, 5/14/2025		2,063
		Railroads — 0.1%
	2,000	CSX Corp., 2.600%, 11/01/2026		1,997
		REITs – Office Property — 0.0%
	1,000	Boston Properties LP, 2.750%, 10/01/2026		994
		Restaurants — 0.1%
	2,000	Starbucks Corp., 3.800%, 8/15/2025		2,125
		Technology — 0.1%
	1,000	Apple, Inc., 2.500%, 2/09/2025		1,008
	2,000	International Business Machines Corp., 4.000%, 6/20/2042		2,107
	2,000	Oracle Corp., 2.950%, 5/15/2025		2,052
	2,000	QUALCOMM, Inc., 3.450%, 5/20/2025		2,083
				7,250
		Treasuries — 0.7%
	1,000	U.S. Treasury Bond, 2.500%, 5/15/2046		994
	3,000	U.S. Treasury Bond, 2.875%, 11/15/2046		3,208
	5,000	U.S. Treasury Bond, 3.000%, 5/15/2045		5,464
	1,000	U.S. Treasury Bond, 3.000%, 2/15/2048		1,095
	2,000	U.S. Treasury Bond, 3.000%, 2/15/2049		2,195
	1,000	U.S. Treasury Bond, 4.250%, 11/15/2040		1,310
	1,000	U.S. Treasury Bond, 4.375%, 5/15/2041		1,334
	2,000	U.S. Treasury Bond, 5.250%, 2/15/2029		2,561
	2,000	U.S. Treasury Note, 1.125%, 9/30/2021		1,968
	1,000	U.S. Treasury Note, 1.625%, 8/31/2022		993
	3,000	U.S. Treasury Note, 1.750%, 5/15/2023		2,988
	1,000	U.S. Treasury Note, 2.000%, 11/15/2026		1,004
	2,000	U.S. Treasury Note, 2.125%, 12/31/2022		2,018
	1,000	U.S. Treasury Note, 2.250%, 11/15/2027		1,020
	1,000	U.S. Treasury Note, 2.625%, 2/15/2029		1,052
	1,000	U.S. Treasury Note, 2.875%, 9/30/2023		1,041
				30,245
		Wireless — 0.0%
	1,000	Vodafone Group PLC, 6.150%, 2/27/2037		1,226
		Wirelines — 0.1%
	2,000	AT&T, Inc., 3.400%, 5/15/2025		2,057
	2,000	AT&T, Inc., 3.875%, 1/15/2026		2,105
				4,162
		Total Bonds and Notes (Identified Cost $158,059)		161,481
Shares		Description	Value (†)
	Exchange-Traded Funds — 14.8%
	5,901	iShares® ESG MSCI EAFE ETF	$	372,530
	5,656	iShares® ESG MSCI Emerging Markets ETF		188,515
		Total Exchange-Traded Funds (Identified Cost $547,246)		561,045
	Affiliated Mutual Funds — 23.8%
	9,861	Loomis Sayles Inflation Protected Securities Fund, Class N		104,028
	5,513	Loomis Sayles Limited Term Government and Agency Fund, Class N		62,460
	13,916	Mirova Global Green Bond Fund, Class N		146,952
	52,801	Mirova International Sustainable Equity Fund, Class N		591,899
		Total Affiliated Mutual Funds (Identified Cost $879,653)		905,339
		Total Investments — 99.7% (Identified Cost $3,695,126)		3,791,536
		Other assets less liabilities — 0.3%		11,468
		Net Assets — 100.0%	$	3,803,004
	(†)	See Note 2 of Notes to Financial Statements.
	(a)	Non-income producing security.
	(b)	Variable rate security. The interest rate adjusts periodically based on; (i) changes in current interest rates and/or prepayments on underlying pools of assets, if applicable, (ii) reference to a base lending rate plus or minus a margin, and/or (iii) reference to a base lending rate adjusted by a multiplier and/or subject to certain floors or caps. Rate as of July 31, 2019 is disclosed.
	(c)	The Fund’s investment in mortgage related securities of Federal National Mortgage Association are interests in separate pools of mortgages. All separate investments in securities of each issuer which have the same coupon rate have been aggregated for the purpose of presentation in the Portfolio of Investments.
	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.
	ETF	Exchange-Traded Fund
	FHLMC	Federal Home Loan Mortgage Corp.
	FNMA	Federal National Mortgage Association
	GMTN	Global Medium Term Note
	MTN	Medium Term Note
	REITs	Real Estate Investment Trusts

Asset Allocation Summary at July 31, 2019 (Unaudited)

Equity	87.3	%
Fixed Income	12.4
Total Investments	99.7
Other assets less liabilities	0.3
Net Assets	100.0	%

See accompanying notes to financial statements.

51  |

Portfolio of Investments – as of July 31, 2019 (Unaudited)

Natixis Sustainable Future 2045 Fund

Shares		Description	Value (†)
	Common Stocks — 57.7% of Net Assets
		Aerospace & Defense — 0.4%
	16	Axon Enterprise, Inc.(a)	$	1,124
	25	Moog, Inc., Class A		2,037
	3	Raytheon Co.		547
	16	Teledyne Technologies, Inc.(a)		4,660
	47	United Technologies Corp.		6,279
				14,647
		Air Freight & Logistics — 0.9%
	289	Expeditors International of Washington, Inc.		22,065
	41	FedEx Corp.		6,992
	48	United Parcel Service, Inc., Class B		5,734
				34,791
		Airlines — 0.2%
	301	American Airlines Group, Inc.		9,184
		Auto Components — 0.4%
	100	American Axle & Manufacturing Holdings, Inc.(a)		1,207
	90	Aptiv PLC		7,888
	17	BorgWarner, Inc.		642
	136	Delphi Technologies PLC		2,549
	28	Visteon Corp.(a)		1,845
				14,131
		Automobiles — 0.7%
	987	Fiat Chrysler Automobiles NV		13,018
	344	General Motors Co.		13,877
				26,895
		Banks — 4.0%
	81	Ameris Bancorp		3,221
	145	BancorpSouth Bank		4,334
	779	Bank of America Corp.		23,900
	143	BB&T Corp.		7,369
	348	Citigroup, Inc.		24,764
	164	Citizens Financial Group, Inc.		6,111
	111	Columbia Banking System, Inc.		4,186
	14	Comerica, Inc.		1,025
	280	CVB Financial Corp.		6,163
	254	Fulton Financial Corp.		4,318
	112	Huntington Bancshares, Inc.		1,596
	129	International Bancshares Corp.		4,854
	217	KeyCorp		3,986
	26	M&T Bank Corp.		4,270
	441	People’s United Financial, Inc.		7,241
	87	PNC Financial Services Group, Inc. (The)		12,432
	130	Regions Financial Corp.		2,071
	199	Trustmark Corp.		7,072
	292	Wells Fargo & Co.		14,136
	70	Westamerica Bancorporation		4,487
	53	Wintrust Financial Corp.		3,792
	55	Zions Bancorp N.A.		2,479
				153,807
		Beverages — 1.8%
	42	Brown-Forman Corp., Class B		2,302
	393	Coca-Cola Co. (The)		20,684
	60	Constellation Brands, Inc., Class A		11,809
	442	Monster Beverage Corp.(a)		28,496
	52	PepsiCo, Inc.		6,646
				69,937
		Biotechnology — 1.7%
	18	AbbVie, Inc.		1,199
	69	Amgen, Inc.		12,874
	5	Biogen, Inc.(a)		1,189
		Biotechnology — continued
	118	BioMarin Pharmaceutical, Inc.(a)	$	9,360
	19	Celgene Corp.(a)		1,745
	46	Gilead Sciences, Inc.		3,014
	20	Ligand Pharmaceuticals, Inc.(a)		1,830
	57	Medicines Co. (The)(a)		2,043
	97	Regeneron Pharmaceuticals, Inc.(a)		29,562
	37	Repligen Corp.(a)		3,493
	2	Vertex Pharmaceuticals, Inc.(a)		333
				66,642
		Building Products — 0.4%
	247	Johnson Controls International PLC		10,483
	21	Lennox International, Inc.		5,386
				15,869
		Capital Markets — 4.2%
	2	Affiliated Managers Group, Inc.		172
	10	Ameriprise Financial, Inc.		1,455
	423	Bank of New York Mellon Corp. (The)		19,847
	14	BlackRock, Inc.		6,547
	404	Charles Schwab Corp. (The)		17,461
	21	CME Group, Inc.		4,083
	54	FactSet Research Systems, Inc.		14,974
	67	Franklin Resources, Inc.		2,186
	45	Goldman Sachs Group, Inc. (The)		9,906
	7	Intercontinental Exchange, Inc.		615
	35	Invesco Ltd.		672
	104	Janus Henderson Group PLC		2,087
	107	Legg Mason, Inc.		4,030
	73	Moody’s Corp.		15,647
	65	MSCI, Inc.		14,771
	51	Northern Trust Corp.		4,998
	41	S&P Global, Inc.		10,043
	249	SEI Investments Co.		14,838
	295	State Street Corp.		17,136
				161,468
		Chemicals — 0.7%
	26	Ecolab, Inc.		5,245
	57	HB Fuller Co.		2,725
	40	Innospec, Inc.		3,735
	4	International Flavors & Fragrances, Inc.		576
	54	Linde PLC		10,329
	39	Minerals Technologies, Inc.		2,077
	22	Stepan Co.		2,181
				26,868
		Commercial Services & Supplies — 0.3%
	38	Healthcare Services Group, Inc.		909
	29	MSA Safety, Inc.		3,055
	42	Tetra Tech, Inc.		3,326
	21	Waste Management, Inc.		2,457
				9,747
		Communications Equipment — 0.8%
	69	Ciena Corp.(a)		3,120
	403	Cisco Systems, Inc.		22,326
	37	InterDigital, Inc.		2,384
	39	Lumentum Holdings, Inc.(a)		2,208
	9	Motorola Solutions, Inc.		1,494
				31,532
		Construction & Engineering — 0.1%
	130	AECOM(a)		4,674

See accompanying notes to financial statements.

|  52

Portfolio of Investments – as of July 31, 2019 (Unaudited)

Natixis Sustainable Future 2045 Fund – (continued)

Shares		Description	Value (†)
		Consumer Finance — 0.9%
	103	American Express Co.	$	12,810
	242	Capital One Financial Corp.		22,366
	35	Navient Corp.		495
				35,671
		Containers & Packaging — 0.2%
	69	Ball Corp.		4,932
	9	Crown Holdings, Inc.(a)		576
	40	International Paper Co.		1,756
	86	Owens-Illinois, Inc.		1,460
				8,724
		Distributors — 0.2%
	41	Genuine Parts Co.		3,982
	20	POOL CORP.		3,787
				7,769
		Diversified Consumer Services — 0.1%
	86	Service Corp. International		3,968
		Diversified Telecommunication Services — 0.1%
	79	AT&T, Inc.		2,690
	43	Verizon Communications, Inc.		2,377
				5,067
		Electric Utilities — 0.5%
	130	American Electric Power Co., Inc.		11,415
	22	Edison International		1,640
	17	Eversource Energy		1,290
	38	IDACORP, Inc.		3,878
				18,223
		Electrical Equipment — 0.2%
	11	Acuity Brands, Inc.		1,476
	32	Eaton Corp. PLC		2,630
	21	Hubbell, Inc.		2,728
				6,834
		Electronic Equipment, Instruments & Components — 1.0%
	73	Avnet, Inc.		3,316
	23	Belden, Inc.		1,045
	74	Cognex Corp.		3,257
	16	Coherent, Inc.(a)		2,222
	15	Littelfuse, Inc.		2,534
	11	Rogers Corp.(a)		1,745
	172	TE Connectivity Ltd.		15,893
	88	Trimble, Inc.(a)		3,719
	131	Vishay Intertechnology, Inc.		2,227
	18	Zebra Technologies Corp., Class A(a)		3,796
				39,754
		Energy Equipment & Services — 0.7%
	34	Apergy Corp.(a)		1,106
	49	Baker Hughes, a GE Co.		1,244
	62	C&J Energy Services, Inc.(a)		678
	18	Core Laboratories NV		903
	210	Halliburton Co.		4,830
	69	National Oilwell Varco, Inc.		1,644
	57	Oceaneering International, Inc.(a)		881
	51	Oil States International, Inc.(a)		761
	347	Schlumberger Ltd.		13,870
	47	TechnipFMC PLC		1,294
	76	U.S. Silica Holdings, Inc.		1,053
				28,264
		Entertainment — 1.2%
	31	Activision Blizzard, Inc.		1,511
	63	Cinemark Holdings, Inc.		2,515
		Entertainment — continued
	15	Electronic Arts, Inc.(a)	$	1,387
	66	Netflix, Inc.(a)		21,317
	3	Take-Two Interactive Software, Inc.(a)		368
	10	Viacom, Inc., Class B		304
	133	Walt Disney Co. (The)		19,020
				46,422
		Food & Staples Retailing — 0.2%
	81	Kroger Co. (The)		1,714
	234	SpartanNash Co.		2,766
	9	Sysco Corp.		617
	13	Walgreens Boots Alliance, Inc.		708
				5,805
		Food Products — 0.6%
	58	Campbell Soup Co.		2,398
	733	Danone S.A., Sponsored ADR		12,622
	19	General Mills, Inc.		1,009
	57	Hain Celestial Group, Inc. (The)(a)		1,241
	3	Hershey Co. (The)		455
	26	Ingredion, Inc.		2,010
	12	J.M. Smucker Co. (The)		1,334
	11	Kellogg Co.		640
	62	Kraft Heinz Co. (The)		1,985
	7	Mondelez International, Inc., Class A		374
				24,068
		Gas Utilities — 0.3%
	78	New Jersey Resources Corp.		3,890
	44	ONE Gas, Inc.		4,012
	68	South Jersey Industries, Inc.		2,315
				10,217
		Health Care Equipment & Supplies — 0.8%
	16	Alcon, Inc.(a)		940
	5	Align Technology, Inc.(a)		1,045
	1	Becton Dickinson and Co.		253
	8	Boston Scientific Corp.(a)		340
	3	Danaher Corp.		421
	21	DENTSPLY SIRONA, Inc.		1,143
	1	Edwards Lifesciences Corp.(a)		213
	31	Globus Medical, Inc.(a)		1,413
	16	Haemonetics Corp.(a)		1,953
	2	Intuitive Surgical, Inc.(a)		1,039
	104	Meridian Bioscience, Inc.		1,243
	23	Merit Medical Systems, Inc.(a)		908
	42	STERIS PLC		6,252
	1	Stryker Corp.		210
	75	Varian Medical Systems, Inc.(a)		8,803
	28	West Pharmaceutical Services, Inc.		3,844
				30,020
		Health Care Providers & Services — 1.4%
	32	Acadia Healthcare Co., Inc.(a)		1,022
	10	Amedisys, Inc.(a)		1,379
	3	Anthem, Inc.		884
	20	BioTelemetry, Inc.(a)		939
	92	Centene Corp.(a)		4,792
	8	Chemed Corp.		3,243
	7	Cigna Corp.		1,189
	276	CVS Health Corp.		15,420
	37	Encompass Health Corp.		2,362
	62	HCA Healthcare, Inc.		8,278
	27	Henry Schein, Inc.(a)		1,797
	11	Humana, Inc.		3,264
	12	Laboratory Corp. of America Holdings(a)		2,010

See accompanying notes to financial statements.

53  |

Portfolio of Investments – as of July 31, 2019 (Unaudited)

Natixis Sustainable Future 2045 Fund – (continued)

Shares		Description	Value (†)
		Health Care Providers & Services — continued
	32	MEDNAX, Inc.(a)	$	786
	51	Patterson Cos., Inc.		1,010
	20	Quest Diagnostics, Inc.		2,042
	16	UnitedHealth Group, Inc.		3,984
				54,401
		Health Care Technology — 0.5%
	110	Allscripts Healthcare Solutions, Inc.(a)		1,133
	208	Cerner Corp.		14,903
	34	Medidata Solutions, Inc.(a)		3,107
				19,143
		Hotels, Restaurants & Leisure — 2.4%
	12	Domino’s Pizza, Inc.		2,934
	40	Dunkin’ Brands Group, Inc.		3,206
	101	Hilton Worldwide Holdings, Inc.		9,752
	18	Jack in the Box, Inc.		1,293
	25	Marriott Vacations Worldwide Corp.		2,556
	5	McDonald’s Corp.		1,054
	447	MGM Resorts International		13,419
	38	Six Flags Entertainment Corp.		2,007
	259	Starbucks Corp.		24,525
	117	Wendy’s Co. (The)		2,128
	428	Yum China Holdings, Inc.		19,474
	86	Yum! Brands, Inc.		9,677
				92,025
		Household Durables — 0.3%
	9	iRobot Corp.(a)		658
	117	KB Home		3,073
	88	Meritage Homes Corp.(a)		5,527
	41	Tupperware Brands Corp.		628
				9,886
		Household Products — 1.0%
	162	Colgate-Palmolive Co.		11,622
	219	Procter & Gamble Co. (The)		25,851
				37,473
		Independent Power & Renewable Electricity Producers — 0.2%
	67	AES Corp. (The)		1,125
	67	Ormat Technologies, Inc.		4,392
	157	Pattern Energy Group, Inc.		3,600
				9,117
		Industrial Conglomerates — 0.4%
	1,506	General Electric Co.		15,738
		Insurance — 1.4%
	8	Aflac, Inc.		421
	42	Allstate Corp. (The)		4,511
	302	American International Group, Inc.		16,909
	6	Brighthouse Financial, Inc.(a)		235
	71	Chubb Ltd.		10,852
	67	First American Financial Corp.		3,874
	14	Hartford Financial Services Group, Inc. (The)		807
	9	Lincoln National Corp.		588
	23	Marsh & McLennan Cos., Inc.		2,272
	14	MetLife, Inc.		692
	72	Prudential Financial, Inc.		7,294
	33	Travelers Cos., Inc. (The)		4,838
				53,293
		Interactive Media & Services — 2.7%
	14	Alphabet, Inc., Class A(a)		17,055
	33	Alphabet, Inc., Class C(a)		40,151
	241	Facebook, Inc., Class A(a)		46,809
	7	TripAdvisor, Inc.(a)		309
				104,324
		Internet & Direct Marketing Retail — 2.8%
	177	Alibaba Group Holding Ltd., Sponsored ADR(a)	$	30,641
	24	Amazon.com, Inc.(a)		44,803
	10	Booking Holdings, Inc.(a)		18,866
	291	eBay, Inc.		11,986
				106,296
		IT Services — 2.9%
	93	Automatic Data Processing, Inc.		15,486
	7	Cognizant Technology Solutions Corp., Class A		456
	162	DXC Technology Co.		9,035
	65	Gartner, Inc.(a)		9,057
	12	International Business Machines Corp.		1,779
	53	Leidos Holdings, Inc.		4,351
	53	MasterCard, Inc., Class A		14,430
	16	PayPal Holdings, Inc.(a)		1,766
	198	Sabre Corp.		4,655
	262	Visa, Inc., Class A		46,636
	53	Western Union Co. (The)		1,113
	20	WEX, Inc.(a)		4,362
				113,126
		Leisure Products — 0.0%
	67	Callaway Golf Co.		1,229
		Life Sciences Tools & Services — 0.1%
	1	Illumina, Inc.(a)		299
	9	IQVIA Holdings, Inc.(a)		1,433
	9	Thermo Fisher Scientific, Inc.		2,499
				4,231
		Machinery — 2.5%
	49	AGCO Corp.		3,773
	121	Caterpillar, Inc.		15,932
	70	Cummins, Inc.		11,480
	114	Deere & Co.		18,884
	47	Flowserve Corp.		2,352
	36	IDEX Corp.		6,056
	65	ITT, Inc.		4,057
	66	Kennametal, Inc.		2,282
	51	Oshkosh Corp.		4,262
	105	Parker Hannifin Corp.		18,383
	11	Proto Labs, Inc.(a)		1,145
	65	Terex Corp.		1,979
	57	Toro Co. (The)		4,151
	5	Xylem, Inc.		402
				95,138
		Media — 1.2%
	4	Cable One, Inc.		4,867
	17	CBS Corp., Class B		875
	42	Charter Communications, Inc., Class A(a)		16,186
	369	Comcast Corp., Class A		15,930
	32	Discovery, Inc., Series C(a)		904
	14	Interpublic Group of Cos., Inc. (The)		321
	71	New York Times Co. (The), Class A		2,533
	86	News Corp., Class A		1,132
	24	Omnicom Group, Inc.		1,925
				44,673
		Metals & Mining — 0.4%
	88	Commercial Metals Co.		1,541
	130	Newmont Goldcorp Corp.		4,748
	16	Nucor Corp.		870
	50	Reliance Steel & Aluminum Co.		4,997
	33	Royal Gold, Inc.		3,777
				15,933

See accompanying notes to financial statements.

|  54

Portfolio of Investments – as of July 31, 2019 (Unaudited)

Natixis Sustainable Future 2045 Fund – (continued)

Shares		Description	Value (†)
		Multi-Utilities — 0.3%
	76	Consolidated Edison, Inc.	$	6,457
	10	DTE Energy Co.		1,271
	15	Sempra Energy		2,032
				9,760
		Multiline Retail — 0.0%
	11	Macy’s, Inc.		250
	15	Target Corp.		1,296
				1,546
		Oil, Gas & Consumable Fuels — 1.4%
	386	Apache Corp.		9,426
	2,185	Chesapeake Energy Corp.(a)		3,955
	73	Concho Resources, Inc.		7,131
	485	Denbury Resources, Inc.(a)		548
	65	Diamondback Energy, Inc.		6,723
	72	EOG Resources, Inc.		6,181
	81	EQT Corp.		1,224
	72	Green Plains, Inc.		727
	67	Hess Corp.		4,344
	118	Noble Energy, Inc.		2,605
	55	ONEOK, Inc.		3,854
	40	Valero Energy Corp.		3,410
	47	World Fuel Services Corp.		1,835
				51,963
		Paper & Forest Products — 0.1%
	49	Domtar Corp.		2,080
	65	Louisiana-Pacific Corp.		1,699
				3,779
		Personal Products — 0.0%
	3	Estee Lauder Cos., Inc. (The), Class A		553
		Pharmaceuticals — 1.1%
	1	Allergan PLC		160
	14	Bristol-Myers Squibb Co.		622
	63	Catalent, Inc.(a)		3,559
	18	Eli Lilly & Co.		1,961
	91	Merck & Co., Inc.		7,552
	85	Novartis AG, Sponsored ADR		7,784
	292	Novo Nordisk AS, Sponsored ADR		13,993
	25	Perrigo Co. PLC		1,350
	95	Pfizer, Inc.		3,690
				40,671
		Professional Services — 0.3%
	52	Exponent, Inc.		3,578
	20	Insperity, Inc.		2,127
	53	Korn Ferry		2,082
	32	ManpowerGroup, Inc.		2,923
	44	Nielsen Holdings PLC		1,019
				11,729
		Real Estate Management & Development — 0.1%
	12	CBRE Group, Inc., Class A(a)		636
	27	Jones Lang LaSalle, Inc.		3,934
				4,570
		REITs – Apartments — 0.4%
	95	American Campus Communities, Inc.		4,441
	3	AvalonBay Communities, Inc.		627
	63	Camden Property Trust		6,534
	7	Equity Residential		552
	6	Essex Property Trust, Inc.		1,813
	4	Mid-America Apartment Communities, Inc.		471
				14,438
		REITs – Diversified — 0.1%
	5	Crown Castle International Corp.	$	666
	9	Digital Realty Trust, Inc.		1,029
	2	Equinix, Inc.		1,004
	65	Weyerhaeuser Co.		1,652
				4,351
		REITs – Health Care — 0.2%
	28	Ventas, Inc.		1,884
	49	Welltower, Inc.		4,073
				5,957
		REITs – Hotels — 0.0%
	97	Host Hotels & Resorts, Inc.		1,687
		REITs – Office Property — 0.6%
	11	Boston Properties, Inc.		1,462
	142	Corporate Office Properties Trust		3,965
	161	Douglas Emmett, Inc.		6,572
	214	Easterly Government Properties, Inc.		4,038
	72	Kilroy Realty Corp.		5,721
				21,758
		REITs – Regional Malls — 0.0%
	6	Macerich Co. (The)		198
	10	Simon Property Group, Inc.		1,622
				1,820
		REITs – Storage — 0.0%
	32	Iron Mountain, Inc.		941
	2	Public Storage		486
				1,427
		REITs – Warehouse/Industrials — 0.2%
	36	CyrusOne, Inc.		2,066
	117	Liberty Property Trust		6,119
				8,185
		Road & Rail — 0.5%
	42	Genesee & Wyoming, Inc., Class A(a)		4,612
	19	Kansas City Southern		2,351
	37	Norfolk Southern Corp.		7,072
	32	Ryder System, Inc.		1,704
	24	Union Pacific Corp.		4,319
				20,058
		Semiconductors & Semiconductor Equipment — 2.3%
	13	Advanced Micro Devices, Inc.(a)		396
	70	Applied Materials, Inc.		3,456
	38	Brooks Automation, Inc.		1,474
	30	Cabot Microelectronics Corp.		3,650
	44	Cirrus Logic, Inc.(a)		2,158
	31	Cree, Inc.(a)		1,928
	87	First Solar, Inc.(a)		5,611
	290	Intel Corp.		14,659
	7	Lam Research Corp.		1,460
	8	Microchip Technology, Inc.		755
	111	NVIDIA Corp.		18,728
	230	QUALCOMM, Inc.		16,827
	42	Silicon Laboratories, Inc.(a)		4,713
	96	Texas Instruments, Inc.		12,001
				87,816
		Software — 2.5%
	8	Adobe, Inc.(a)		2,391
	163	Autodesk, Inc.(a)		25,456
	25	Blackbaud, Inc.		2,275
	45	Bottomline Technologies, Inc.(a)		1,894
	14	Fair Isaac Corp.(a)		4,864

See accompanying notes to financial statements.

55  |

Portfolio of Investments – as of July 31, 2019 (Unaudited)

Natixis Sustainable Future 2045 Fund – (continued)

Shares		Description	Value (†)
		Software — continued
	19	LogMeIn, Inc.	$	1,443
	152	Microsoft Corp.		20,713
	553	Oracle Corp.		31,134
	39	PTC, Inc.(a)		2,643
	28	Qualys, Inc.(a)		2,424
	2	salesforce.com, inc.(a)		309
	33	Symantec Corp.		711
				96,257
		Specialty Retail — 0.7%
	25	Aaron’s, Inc.		1,576
	64	American Eagle Outfitters, Inc.		1,132
	35	Asbury Automotive Group, Inc.(a)		3,223
	17	Best Buy Co., Inc.		1,301
	13	Five Below, Inc.(a)		1,527
	36	Home Depot, Inc. (The)		7,693
	25	Lithia Motors, Inc., Class A		3,297
	17	Lowe’s Cos., Inc.		1,724
	27	Monro, Inc.		2,274
	11	Tiffany & Co.		1,033
	27	Williams-Sonoma, Inc.		1,800
				26,580
		Technology Hardware, Storage & Peripherals — 1.8%
	262	Apple, Inc.		55,817
	235	Hewlett Packard Enterprise Co.		3,377
	150	HP, Inc.		3,156
	73	NCR Corp.(a)		2,468
	11	NetApp, Inc.		643
	22	Seagate Technology PLC		1,019
	6	Western Digital Corp.		323
	45	Xerox Corp.		1,445
				68,248
		Textiles, Apparel & Luxury Goods — 0.7%
	21	Deckers Outdoor Corp.(a)		3,282
	15	Hanesbrands, Inc.		241
	23	NIKE, Inc., Class B		1,979
	4	PVH Corp.		356
	793	Under Armour, Inc., Class A(a)		18,295
	83	Wolverine World Wide, Inc.		2,253
				26,406
		Thrifts & Mortgage Finance — 0.1%
	310	New York Community Bancorp, Inc.		3,574
		Trading Companies & Distributors — 0.2%
	76	Fastenal Co.		2,341
	20	GATX Corp.		1,537
	13	United Rentals, Inc.(a)		1,645
	9	W.W. Grainger, Inc.		2,619
				8,142
		Water Utilities — 0.3%
	62	American Water Works Co., Inc.		7,116
	88	Aqua America, Inc.		3,692
				10,808
		Total Common Stocks (Identified Cost $2,176,855)		2,219,107
Principal Amount		Description	Value (†)
	Bonds and Notes — 3.9%
		Agency Commercial Mortgage-Backed Securities — 0.0%
$	1,000	FHLMC Multifamily Structured Pass Through Certificates, Series K012, Class A2, 4.185%, 12/25/2020(b)	$	1,022
		Automotive — 0.1%
	2,000	General Motors Financial Co., Inc., 4.350%, 1/17/2027		2,048
	2,000	Toyota Motor Credit Corp., MTN, 2.600%, 1/11/2022		2,019
				4,067
		Banking — 0.7%
	2,000	American Express Co., 3.700%, 8/03/2023		2,089
	2,000	Bank of America Corp., (fixed rate to 1/20/2022, variable rate thereafter), MTN, 3.124%, 1/20/2023		2,029
	2,000	Bank of Montreal, MTN, 1.900%, 8/27/2021		1,987
	2,000	Bank of New York Mellon Corp. (The), Series 10YR, MTN, 3.650%, 2/04/2024		2,108
	2,000	BNP Paribas S.A., MTN, 3.250%, 3/03/2023		2,064
	2,000	Capital One Financial Corp., 3.300%, 10/30/2024		2,071
	1,000	Citigroup, Inc., 4.600%, 3/09/2026		1,080
	1,000	Deutsche Bank AG, GMTN, 3.375%, 5/12/2021		995
	2,000	Goldman Sachs Group, Inc. (The), 3.750%, 5/22/2025		2,089
	2,000	HSBC Holdings PLC, 5.100%, 4/05/2021		2,087
	2,000	JPMorgan Chase & Co., (fixed rate to 3/01/2024, variable rate thereafter), 3.220%, 3/01/2025		2,053
	2,000	Morgan Stanley, Series F, 3.875%, 4/29/2024		2,113
	1,000	Royal Bank of Canada, GMTN, 2.150%, 3/06/2020		999
	1,000	Santander UK PLC, 2.375%, 3/16/2020		999
	1,000	SunTrust Bank, 2.250%, 1/31/2020		999
	2,000	Wells Fargo & Co., MTN, 3.000%, 2/19/2025		2,037
				27,799
		Construction Machinery — 0.0%
	1,000	John Deere Capital Corp., MTN, 2.650%, 1/06/2022		1,010
		Consumer Cyclical Services — 0.1%
	2,000	eBay, Inc., 3.800%, 3/09/2022		2,064
		Electric — 0.1%
	2,000	Virginia Electric & Power Co., Series A, 3.150%, 1/15/2026		2,072
		Financial Other — 0.1%
	2,000	ORIX Corp., 2.900%, 7/18/2022		2,032
		Government Owned – No Guarantee — 0.1%
	2,000	Federal National Mortgage Association, 6.625%, 11/15/2030		2,849
		Health Insurance — 0.1%
	2,000	Anthem, Inc., 4.101%, 3/01/2028		2,127
	1,000	UnitedHealth Group, Inc., 5.800%, 3/15/2036		1,299
				3,426
		Healthcare — 0.1%
	1,000	CVS Health Corp., 3.875%, 7/20/2025		1,044
	2,000	Express Scripts Holding Co., 4.500%, 2/25/2026		2,163
	2,000	McKesson Corp., 3.950%, 2/16/2028		2,076
				5,283
		Independent Energy — 0.1%
	2,000	EQT Corp., 3.000%, 10/01/2022		1,945
		Integrated Energy — 0.1%
	1,000	BP Capital Markets PLC, 3.814%, 2/10/2024		1,057
	1,000	Chevron Corp., 1.961%, 3/03/2020		999
	1,000	Shell International Finance BV, 6.375%, 12/15/2038		1,431
				3,487

See accompanying notes to financial statements.

|  56

Portfolio of Investments – as of July 31, 2019 (Unaudited)

Natixis Sustainable Future 2045 Fund – (continued)

Principal Amount		Description	Value (†)
		Media Entertainment — 0.1%
$	2,000	Viacom, Inc., 6.875%, 4/30/2036	$	2,534
		Midstream — 0.1%
	2,000	Energy Transfer Operating LP, 4.050%, 3/15/2025		2,081
	1,000	Enterprise Products Operating LLC, 2.550%, 10/15/2019		1,000
	2,000	Kinder Morgan Energy Partners LP, 4.150%, 2/01/2024		2,109
				5,190
		Mortgage Related — 0.6%
	9,785	FNMA, 3.000%, with various maturities from 2034 to 2049(c)		9,915
	9,006	FNMA, 3.500%, 6/01/2049		9,232
	5,526	FNMA, 4.000%, with various maturities in 2049(c)		5,718
	1,947	FNMA, 4.500%, 5/01/2049		2,042
				26,907
		Pharmaceuticals — 0.1%
	2,000	AbbVie, Inc., 3.600%, 5/14/2025		2,063
		Railroads — 0.1%
	2,000	CSX Corp., 2.600%, 11/01/2026		1,997
		REITs – Office Property — 0.0%
	1,000	Boston Properties LP, 2.750%, 10/01/2026		994
		Restaurants — 0.1%
	2,000	Starbucks Corp., 3.800%, 8/15/2025		2,125
		Technology — 0.1%
	1,000	Apple, Inc., 2.500%, 2/09/2025		1,008
	2,000	International Business Machines Corp., 4.000%, 6/20/2042		2,107
	2,000	Oracle Corp., 2.950%, 5/15/2025		2,052
	2,000	QUALCOMM, Inc., 3.450%, 5/20/2025		2,083
				7,250
		Treasuries — 0.9%
	1,000	U.S. Treasury Bond, 2.500%, 5/15/2046		994
	3,000	U.S. Treasury Bond, 2.875%, 11/15/2046		3,208
	5,000	U.S. Treasury Bond, 3.000%, 5/15/2045		5,464
	1,000	U.S. Treasury Bond, 3.000%, 2/15/2048		1,095
	2,000	U.S. Treasury Bond, 3.000%, 2/15/2049		2,195
	1,000	U.S. Treasury Bond, 4.250%, 11/15/2040		1,310
	1,000	U.S. Treasury Bond, 4.375%, 5/15/2041		1,334
	3,000	U.S. Treasury Bond, 5.250%, 2/15/2029		3,841
	2,000	U.S. Treasury Note, 1.125%, 12/31/2019		1,991
	1,000	U.S. Treasury Note, 1.125%, 4/30/2020		993
	3,000	U.S. Treasury Note, 1.125%, 9/30/2021		2,952
	2,000	U.S. Treasury Note, 1.750%, 5/15/2023		1,992
	1,000	U.S. Treasury Note, 2.000%, 11/15/2026		1,004
	2,000	U.S. Treasury Note, 2.125%, 12/31/2022		2,018
	1,000	U.S. Treasury Note, 2.250%, 11/15/2025		1,020
	2,000	U.S. Treasury Note, 2.250%, 11/15/2027		2,041
	2,000	U.S. Treasury Note, 2.625%, 2/15/2029		2,104
	2,000	U.S. Treasury Note, 2.875%, 9/30/2023		2,081
				37,637
		Wireless — 0.1%
	2,000	Vodafone Group PLC, 6.150%, 2/27/2037		2,452
		Wirelines — 0.1%
	2,000	AT&T, Inc., 3.400%, 5/15/2025		2,057
		Total Bonds and Notes (Identified Cost $145,967)		148,262
Shares		Description	Value (†)
	Exchange-Traded Funds — 15.2%
	6,284	iShares® ESG MSCI EAFE ETF	$	396,709
	5,625	iShares® ESG MSCI Emerging Markets ETF		187,481
		Total Exchange-Traded Funds (Identified Cost $576,363)		584,190
	Affiliated Mutual Funds — 20.9%
	3,988	Loomis Sayles Inflation Protected Securities Fund, Class N		42,070
	5,553	Loomis Sayles Limited Term Government and Agency Fund, Class N		62,918
	5,972	Mirova Global Green Bond Fund, Class N		63,063
	56,767	Mirova International Sustainable Equity Fund, Class N		636,357
		Total Affiliated Mutual Funds (Identified Cost $792,263)		804,408
		Total Investments — 97.7% (Identified Cost $3,691,448)		3,755,967
		Other assets less liabilities — 2.3%		87,171
		Net Assets — 100.0%	$	3,843,138
	(†)	See Note 2 of Notes to Financial Statements.
	(a)	Non-income producing security.
	(b)	Variable rate security. The interest rate adjusts periodically based on; (i) changes in current interest rates and/or prepayments on underlying pools of assets, if applicable, (ii) reference to a base lending rate plus or minus a margin, and/or (iii) reference to a base lending rate adjusted by a multiplier and/or subject to certain floors or caps. Rate as of July 31, 2019 is disclosed.
	(c)	The Fund’s investment in mortgage related securities of Federal National Mortgage Association are interests in separate pools of mortgages. All separate investments in securities of each issuer which have the same coupon rate have been aggregated for the purpose of presentation in the Portfolio of Investments.
	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.
	ETF	Exchange-Traded Fund
	FHLMC	Federal Home Loan Mortgage Corp.
	FNMA	Federal National Mortgage Association
	GMTN	Global Medium Term Note
	MTN	Medium Term Note
	REITs	Real Estate Investment Trusts

Asset Allocation Summary at July 31, 2019 (Unaudited)

Equity	89.5	%
Fixed Income	8.2
Total Investments	97.7
Other assets less liabilities	2.3
Net Assets	100.0	%

See accompanying notes to financial statements.

57  |

Portfolio of Investments – as of July 31, 2019 (Unaudited)

Natixis Sustainable Future 2050 Fund

Shares		Description	Value (†)
	Common Stocks — 58.6% of Net Assets
		Aerospace & Defense — 0.4%
	17	Axon Enterprise, Inc.(a)	$	1,194
	24	Moog, Inc., Class A		1,955
	5	Raytheon Co.		912
	12	Teledyne Technologies, Inc.(a)		3,495
	35	United Technologies Corp.		4,676
				12,232
		Air Freight & Logistics — 0.9%
	272	Expeditors International of Washington, Inc.		20,767
	36	FedEx Corp.		6,139
	38	United Parcel Service, Inc., Class B		4,540
				31,446
		Airlines — 0.2%
	264	American Airlines Group, Inc.		8,055
		Auto Components — 0.4%
	106	American Axle & Manufacturing Holdings, Inc.(a)		1,279
	80	Aptiv PLC		7,012
	16	BorgWarner, Inc.		605
	119	Delphi Technologies PLC		2,230
	21	Visteon Corp.(a)		1,384
				12,510
		Automobiles — 0.7%
	868	Fiat Chrysler Automobiles NV		11,449
	302	General Motors Co.		12,183
				23,632
		Banks — 3.9%
	62	Ameris Bancorp		2,466
	116	BancorpSouth Bank		3,467
	686	Bank of America Corp.		21,047
	108	BB&T Corp.		5,565
	309	Citigroup, Inc.		21,988
	125	Citizens Financial Group, Inc.		4,658
	95	Columbia Banking System, Inc.		3,583
	13	Comerica, Inc.		952
	240	CVB Financial Corp.		5,282
	203	Fulton Financial Corp.		3,451
	89	Huntington Bancshares, Inc.		1,268
	111	International Bancshares Corp.		4,177
	189	KeyCorp		3,472
	19	M&T Bank Corp.		3,121
	340	People’s United Financial, Inc.		5,583
	70	PNC Financial Services Group, Inc. (The)		10,003
	124	Regions Financial Corp.		1,975
	171	Trustmark Corp.		6,077
	257	Wells Fargo & Co.		12,441
	60	Westamerica Bancorporation		3,846
	41	Wintrust Financial Corp.		2,933
	43	Zions Bancorp N.A.		1,938
				129,293
		Beverages — 1.8%
	33	Brown-Forman Corp., Class B		1,809
	331	Coca-Cola Co. (The)		17,420
	53	Constellation Brands, Inc., Class A		10,431
	413	Monster Beverage Corp.(a)		26,626
	39	PepsiCo, Inc.		4,985
				61,271
		Biotechnology — 1.8%
	18	AbbVie, Inc.		1,199
	60	Amgen, Inc.		11,195
	8	Biogen, Inc.(a)		1,903
		Biotechnology — continued
	110	BioMarin Pharmaceutical, Inc.(a)	$	8,725
	18	Celgene Corp.(a)		1,654
	45	Gilead Sciences, Inc.		2,948
	15	Ligand Pharmaceuticals, Inc.(a)		1,373
	56	Medicines Co. (The)(a)		2,007
	86	Regeneron Pharmaceuticals, Inc.(a)		26,209
	30	Repligen Corp.(a)		2,832
	2	Vertex Pharmaceuticals, Inc.(a)		333
				60,378
		Building Products — 0.4%
	188	Johnson Controls International PLC		7,979
	18	Lennox International, Inc.		4,616
				12,595
		Capital Markets — 4.3%
	3	Affiliated Managers Group, Inc.		257
	9	Ameriprise Financial, Inc.		1,310
	360	Bank of New York Mellon Corp. (The)		16,891
	12	BlackRock, Inc.		5,612
	357	Charles Schwab Corp. (The)		15,429
	16	CME Group, Inc.		3,111
	50	FactSet Research Systems, Inc.		13,865
	66	Franklin Resources, Inc.		2,154
	40	Goldman Sachs Group, Inc. (The)		8,805
	8	Intercontinental Exchange, Inc.		703
	37	Invesco Ltd.		710
	83	Janus Henderson Group PLC		1,666
	80	Legg Mason, Inc.		3,013
	64	Moody’s Corp.		13,718
	60	MSCI, Inc.		13,634
	40	Northern Trust Corp.		3,920
	35	S&P Global, Inc.		8,573
	232	SEI Investments Co.		13,825
	263	State Street Corp.		15,278
				142,474
		Chemicals — 0.7%
	22	Ecolab, Inc.		4,438
	45	HB Fuller Co.		2,151
	31	Innospec, Inc.		2,895
	4	International Flavors & Fragrances, Inc.		576
	41	Linde PLC		7,843
	39	Minerals Technologies, Inc.		2,077
	21	Stepan Co.		2,082
				22,062
		Commercial Services & Supplies — 0.2%
	40	Healthcare Services Group, Inc.		956
	25	MSA Safety, Inc.		2,634
	34	Tetra Tech, Inc.		2,693
	17	Waste Management, Inc.		1,989
				8,272
		Communications Equipment — 0.8%
	55	Ciena Corp.(a)		2,487
	372	Cisco Systems, Inc.		20,609
	28	InterDigital, Inc.		1,804
	31	Lumentum Holdings, Inc.(a)		1,755
	7	Motorola Solutions, Inc.		1,162
				27,817
		Construction & Engineering — 0.1%
	104	AECOM(a)		3,739

See accompanying notes to financial statements.

|  58

Portfolio of Investments – as of July 31, 2019 (Unaudited)

Natixis Sustainable Future 2050 Fund – (continued)

Shares		Description	Value (†)
		Consumer Finance — 1.0%
	92	American Express Co.	$	11,442
	214	Capital One Financial Corp.		19,778
	40	Navient Corp.		566
				31,786
		Containers & Packaging — 0.2%
	52	Ball Corp.		3,717
	10	Crown Holdings, Inc.(a)		640
	38	International Paper Co.		1,669
	92	Owens-Illinois, Inc.		1,561
				7,587
		Distributors — 0.2%
	30	Genuine Parts Co.		2,914
	17	POOL CORP.		3,219
				6,133
		Diversified Consumer Services — 0.1%
	69	Service Corp. International		3,184
		Diversified Telecommunication Services — 0.1%
	65	AT&T, Inc.		2,213
	34	Verizon Communications, Inc.		1,879
				4,092
		Electric Utilities — 0.4%
	99	American Electric Power Co., Inc.		8,693
	21	Edison International		1,565
	16	Eversource Energy		1,214
	33	IDACORP, Inc.		3,368
				14,840
		Electrical Equipment — 0.2%
	11	Acuity Brands, Inc.		1,476
	31	Eaton Corp. PLC		2,548
	21	Hubbell, Inc.		2,728
				6,752
		Electronic Equipment, Instruments & Components — 1.0%
	62	Avnet, Inc.		2,816
	24	Belden, Inc.		1,091
	59	Cognex Corp.		2,597
	12	Coherent, Inc.(a)		1,666
	12	Littelfuse, Inc.		2,028
	11	Rogers Corp.(a)		1,745
	151	TE Connectivity Ltd.		13,952
	75	Trimble, Inc.(a)		3,170
	104	Vishay Intertechnology, Inc.		1,768
	14	Zebra Technologies Corp., Class A(a)		2,952
				33,785
		Energy Equipment & Services — 0.8%
	33	Apergy Corp.(a)		1,074
	28	Baker Hughes, a GE Co.		711
	65	C&J Energy Services, Inc.(a)		711
	18	Core Laboratories NV		903
	185	Halliburton Co.		4,255
	66	National Oilwell Varco, Inc.		1,572
	59	Oceaneering International, Inc.(a)		912
	52	Oil States International, Inc.(a)		776
	302	Schlumberger Ltd.		12,071
	45	TechnipFMC PLC		1,239
	91	U.S. Silica Holdings, Inc.		1,261
				25,485
		Entertainment — 1.2%
	29	Activision Blizzard, Inc.		1,413
	50	Cinemark Holdings, Inc.		1,996
		Entertainment — continued
	15	Electronic Arts, Inc.(a)	$	1,388
	57	Netflix, Inc.(a)		18,410
	3	Take-Two Interactive Software, Inc.(a)		368
	11	Viacom, Inc., Class B		334
	107	Walt Disney Co. (The)		15,302
				39,211
		Food & Staples Retailing — 0.2%
	69	Kroger Co. (The)		1,460
	187	SpartanNash Co.		2,210
	10	Sysco Corp.		686
	14	Walgreens Boots Alliance, Inc.		763
				5,119
		Food Products — 0.7%
	55	Campbell Soup Co.		2,274
	695	Danone S.A., Sponsored ADR		11,968
	19	General Mills, Inc.		1,009
	60	Hain Celestial Group, Inc. (The)(a)		1,306
	2	Hershey Co. (The)		303
	20	Ingredion, Inc.		1,546
	11	J.M. Smucker Co. (The)		1,223
	12	Kellogg Co.		699
	60	Kraft Heinz Co. (The)		1,921
	7	Mondelez International, Inc., Class A		374
				22,623
		Gas Utilities — 0.3%
	67	New Jersey Resources Corp.		3,341
	35	ONE Gas, Inc.		3,191
	69	South Jersey Industries, Inc.		2,350
				8,882
		Health Care Equipment & Supplies — 0.9%
	19	Alcon, Inc.(a)		1,116
	5	Align Technology, Inc.(a)		1,045
	2	Becton Dickinson and Co.		506
	9	Boston Scientific Corp.(a)		382
	3	Danaher Corp.		422
	12	DENTSPLY SIRONA, Inc.		653
	2	Edwards Lifesciences Corp.(a)		426
	30	Globus Medical, Inc.(a)		1,367
	17	Haemonetics Corp.(a)		2,075
	2	Intuitive Surgical, Inc.(a)		1,039
	111	Meridian Bioscience, Inc.		1,327
	24	Merit Medical Systems, Inc.(a)		947
	34	STERIS PLC		5,061
	2	Stryker Corp.		420
	71	Varian Medical Systems, Inc.(a)		8,333
	24	West Pharmaceutical Services, Inc.		3,295
				28,414
		Health Care Providers & Services — 1.4%
	33	Acadia Healthcare Co., Inc.(a)		1,054
	10	Amedisys, Inc.(a)		1,379
	3	Anthem, Inc.		884
	24	BioTelemetry, Inc.(a)		1,127
	70	Centene Corp.(a)		3,646
	8	Chemed Corp.		3,243
	5	Cigna Corp.		850
	236	CVS Health Corp.		13,185
	28	Encompass Health Corp.		1,788
	54	HCA Healthcare, Inc.		7,210
	25	Henry Schein, Inc.(a)		1,663
	3	Humana, Inc.		890
	11	Laboratory Corp. of America Holdings(a)		1,843

See accompanying notes to financial statements.

59  |

Portfolio of Investments – as of July 31, 2019 (Unaudited)

Natixis Sustainable Future 2050 Fund – (continued)

Shares		Description	Value (†)
		Health Care Providers & Services — continued
	33	MEDNAX, Inc.(a)	$	811
	55	Patterson Cos., Inc.		1,089
	19	Quest Diagnostics, Inc.		1,939
	13	UnitedHealth Group, Inc.		3,237
				45,838
		Health Care Technology — 0.5%
	117	Allscripts Healthcare Solutions, Inc.(a)		1,205
	194	Cerner Corp.		13,900
	25	Medidata Solutions, Inc.(a)		2,285
				17,390
		Hotels, Restaurants & Leisure — 2.5%
	10	Domino’s Pizza, Inc.		2,445
	34	Dunkin’ Brands Group, Inc.		2,725
	89	Hilton Worldwide Holdings, Inc.		8,593
	19	Jack in the Box, Inc.		1,365
	19	Marriott Vacations Worldwide Corp.		1,942
	4	McDonald’s Corp.		843
	384	MGM Resorts International		11,528
	31	Six Flags Entertainment Corp.		1,638
	240	Starbucks Corp.		22,726
	117	Wendy’s Co. (The)		2,128
	402	Yum China Holdings, Inc.		18,291
	82	Yum! Brands, Inc.		9,227
				83,451
		Household Durables — 0.3%
	11	iRobot Corp.(a)		804
	94	KB Home		2,469
	75	Meritage Homes Corp.(a)		4,711
	41	Tupperware Brands Corp.		628
				8,612
		Household Products — 1.0%
	154	Colgate-Palmolive Co.		11,048
	182	Procter & Gamble Co. (The)		21,483
				32,531
		Independent Power & Renewable Electricity Producers — 0.2%
	93	AES Corp. (The)		1,562
	53	Ormat Technologies, Inc.		3,474
	126	Pattern Energy Group, Inc.		2,889
				7,925
		Industrial Conglomerates — 0.4%
	1,325	General Electric Co.		13,846
		Insurance — 1.3%
	9	Aflac, Inc.		474
	33	Allstate Corp. (The)		3,544
	269	American International Group, Inc.		15,061
	7	Brighthouse Financial, Inc.(a)		274
	53	Chubb Ltd.		8,100
	57	First American Financial Corp.		3,296
	16	Hartford Financial Services Group, Inc. (The)		922
	10	Lincoln National Corp.		653
	22	Marsh & McLennan Cos., Inc.		2,174
	16	MetLife, Inc.		791
	57	Prudential Financial, Inc.		5,775
	24	Travelers Cos., Inc. (The)		3,519
				44,583
		Interactive Media & Services — 2.9%
	14	Alphabet, Inc., Class A(a)		17,055
	31	Alphabet, Inc., Class C(a)		37,717
	219	Facebook, Inc., Class A(a)		42,536
	7	TripAdvisor, Inc.(a)		309
				97,617
		Internet & Direct Marketing Retail — 2.9%
	163	Alibaba Group Holding Ltd., Sponsored ADR(a)	$	28,217
	22	Amazon.com, Inc.(a)		41,069
	9	Booking Holdings, Inc.(a)		16,979
	257	eBay, Inc.		10,586
				96,851
		IT Services — 3.0%
	86	Automatic Data Processing, Inc.		14,321
	8	Cognizant Technology Solutions Corp., Class A		521
	144	DXC Technology Co.		8,031
	58	Gartner, Inc.(a)		8,081
	9	International Business Machines Corp.		1,334
	42	Leidos Holdings, Inc.		3,448
	48	MasterCard, Inc., Class A		13,069
	12	PayPal Holdings, Inc.(a)		1,325
	159	Sabre Corp.		3,738
	240	Visa, Inc., Class A		42,720
	50	Western Union Co. (The)		1,050
	16	WEX, Inc.(a)		3,489
				101,127
		Leisure Products — 0.0%
	71	Callaway Golf Co.		1,302
		Life Sciences Tools & Services — 0.1%
	1	Illumina, Inc.(a)		299
	9	IQVIA Holdings, Inc.(a)		1,433
	7	Thermo Fisher Scientific, Inc.		1,944
				3,676
		Machinery — 2.5%
	37	AGCO Corp.		2,849
	98	Caterpillar, Inc.		12,904
	63	Cummins, Inc.		10,332
	103	Deere & Co.		17,062
	45	Flowserve Corp.		2,251
	31	IDEX Corp.		5,215
	52	ITT, Inc.		3,246
	63	Kennametal, Inc.		2,179
	41	Oshkosh Corp.		3,426
	91	Parker Hannifin Corp.		15,932
	11	Proto Labs, Inc.(a)		1,145
	52	Terex Corp.		1,583
	48	Toro Co. (The)		3,495
	6	Xylem, Inc.		482
				82,101
		Media — 1.2%
	3	Cable One, Inc.		3,650
	18	CBS Corp., Class B		927
	38	Charter Communications, Inc., Class A(a)		14,645
	330	Comcast Corp., Class A		14,246
	30	Discovery, Inc., Series C(a)		847
	15	Interpublic Group of Cos., Inc. (The)		344
	57	New York Times Co. (The), Class A		2,034
	100	News Corp., Class A		1,316
	24	Omnicom Group, Inc.		1,925
				39,934
		Metals & Mining — 0.4%
	88	Commercial Metals Co.		1,541
	104	Newmont Goldcorp Corp.		3,798
	15	Nucor Corp.		816
	43	Reliance Steel & Aluminum Co.		4,298
	28	Royal Gold, Inc.		3,204
				13,657

See accompanying notes to financial statements.

|  60

Portfolio of Investments – as of July 31, 2019 (Unaudited)

Natixis Sustainable Future 2050 Fund – (continued)

Shares		Description	Value (†)
		Multi-Utilities — 0.2%
	57	Consolidated Edison, Inc.	$	4,843
	10	DTE Energy Co.		1,271
	15	Sempra Energy		2,031
				8,145
		Multiline Retail — 0.0%
	10	Macy’s, Inc.		227
	14	Target Corp.		1,210
				1,437
		Oil, Gas & Consumable Fuels — 1.4%
	340	Apache Corp.		8,303
	1,916	Chesapeake Energy Corp.(a)		3,468
	65	Concho Resources, Inc.		6,349
	572	Denbury Resources, Inc.(a)		646
	58	Diamondback Energy, Inc.		5,999
	65	EOG Resources, Inc.		5,580
	96	EQT Corp.		1,451
	75	Green Plains, Inc.		757
	50	Hess Corp.		3,242
	113	Noble Energy, Inc.		2,495
	41	ONEOK, Inc.		2,873
	29	Valero Energy Corp.		2,472
	50	World Fuel Services Corp.		1,952
				45,587
		Paper & Forest Products — 0.1%
	37	Domtar Corp.		1,570
	69	Louisiana-Pacific Corp.		1,804
				3,374
		Personal Products — 0.0%
	4	Estee Lauder Cos., Inc. (The), Class A		737
		Pharmaceuticals — 1.1%
	1	Allergan PLC		161
	16	Bristol-Myers Squibb Co.		711
	50	Catalent, Inc.(a)		2,824
	14	Eli Lilly & Co.		1,525
	79	Merck & Co., Inc.		6,556
	79	Novartis AG, Sponsored ADR		7,235
	275	Novo Nordisk AS, Sponsored ADR		13,178
	24	Perrigo Co. PLC		1,296
	75	Pfizer, Inc.		2,913
				36,399
		Professional Services — 0.3%
	42	Exponent, Inc.		2,890
	15	Insperity, Inc.		1,595
	40	Korn Ferry		1,571
	25	ManpowerGroup, Inc.		2,284
	43	Nielsen Holdings PLC		996
				9,336
		Real Estate Management & Development — 0.1%
	14	CBRE Group, Inc., Class A(a)		742
	23	Jones Lang LaSalle, Inc.		3,351
				4,093
		REITs – Apartments — 0.4%
	81	American Campus Communities, Inc.		3,787
	3	AvalonBay Communities, Inc.		627
	54	Camden Property Trust		5,600
	8	Equity Residential		631
	4	Essex Property Trust, Inc.		1,209
	4	Mid-America Apartment Communities, Inc.		471
				12,325
		REITs – Diversified — 0.1%
	5	Crown Castle International Corp.	$	666
	9	Digital Realty Trust, Inc.		1,029
	2	Equinix, Inc.		1,004
	65	Weyerhaeuser Co.		1,652
				4,351
		REITs – Health Care — 0.2%
	26	Ventas, Inc.		1,749
	40	Welltower, Inc.		3,325
				5,074
		REITs – Hotels — 0.0%
	93	Host Hotels & Resorts, Inc.		1,617
		REITs – Office Property — 0.6%
	11	Boston Properties, Inc.		1,462
	114	Corporate Office Properties Trust		3,183
	138	Douglas Emmett, Inc.		5,633
	171	Easterly Government Properties, Inc.		3,227
	61	Kilroy Realty Corp.		4,847
				18,352
		REITs – Regional Malls — 0.1%
	3	Macerich Co. (The)		99
	10	Simon Property Group, Inc.		1,622
				1,721
		REITs – Storage — 0.0%
	26	Iron Mountain, Inc.		765
	2	Public Storage		485
				1,250
		REITs – Warehouse/Industrials — 0.2%
	34	CyrusOne, Inc.		1,952
	100	Liberty Property Trust		5,230
				7,182
		Road & Rail — 0.5%
	33	Genesee & Wyoming, Inc., Class A(a)		3,624
	20	Kansas City Southern		2,475
	28	Norfolk Southern Corp.		5,351
	31	Ryder System, Inc.		1,651
	19	Union Pacific Corp.		3,419
				16,520
		Semiconductors & Semiconductor Equipment — 2.4%
	13	Advanced Micro Devices, Inc.(a)		396
	61	Applied Materials, Inc.		3,011
	41	Brooks Automation, Inc.		1,591
	23	Cabot Microelectronics Corp.		2,798
	44	Cirrus Logic, Inc.(a)		2,158
	32	Cree, Inc.(a)		1,990
	69	First Solar, Inc.(a)		4,450
	256	Intel Corp.		12,941
	6	Lam Research Corp.		1,252
	8	Microchip Technology, Inc.		755
	95	NVIDIA Corp.		16,028
	217	QUALCOMM, Inc.		15,876
	36	Silicon Laboratories, Inc.(a)		4,039
	89	Texas Instruments, Inc.		11,126
				78,411
		Software — 2.6%
	6	Adobe, Inc.(a)		1,793
	155	Autodesk, Inc.(a)		24,206
	24	Blackbaud, Inc.		2,184
	36	Bottomline Technologies, Inc.(a)		1,515
	12	Fair Isaac Corp.(a)		4,169

See accompanying notes to financial statements.

61  |

Portfolio of Investments – as of July 31, 2019 (Unaudited)

Natixis Sustainable Future 2050 Fund – (continued)

Shares		Description	Value (†)
		Software — continued
	20	LogMeIn, Inc.	$	1,520
	140	Microsoft Corp.		19,078
	504	Oracle Corp.		28,375
	31	PTC, Inc.(a)		2,101
	21	Qualys, Inc.(a)		1,818
	2	salesforce.com, inc.(a)		309
	31	Symantec Corp.		669
				87,737
		Specialty Retail — 0.7%
	26	Aaron’s, Inc.		1,639
	76	American Eagle Outfitters, Inc.		1,345
	28	Asbury Automotive Group, Inc.(a)		2,578
	17	Best Buy Co., Inc.		1,301
	13	Five Below, Inc.(a)		1,527
	33	Home Depot, Inc. (The)		7,052
	20	Lithia Motors, Inc., Class A		2,638
	18	Lowe’s Cos., Inc.		1,825
	20	Monro, Inc.		1,684
	10	Tiffany & Co.		939
	28	Williams-Sonoma, Inc.		1,867
				24,395
		Technology Hardware, Storage & Peripherals — 1.8%
	222	Apple, Inc.		47,295
	206	Hewlett Packard Enterprise Co.		2,960
	148	HP, Inc.		3,114
	73	NCR Corp.(a)		2,468
	12	NetApp, Inc.		702
	21	Seagate Technology PLC		972
	7	Western Digital Corp.		377
	46	Xerox Corp.		1,477
				59,365
		Textiles, Apparel & Luxury Goods — 0.7%
	17	Deckers Outdoor Corp.(a)		2,657
	15	Hanesbrands, Inc.		241
	17	NIKE, Inc., Class B		1,462
	4	PVH Corp.		356
	738	Under Armour, Inc., Class A(a)		17,026
	63	Wolverine World Wide, Inc.		1,710
				23,452
		Thrifts & Mortgage Finance — 0.1%
	240	New York Community Bancorp, Inc.		2,767
		Trading Companies & Distributors — 0.2%
	60	Fastenal Co.		1,848
	20	GATX Corp.		1,537
	13	United Rentals, Inc.(a)		1,645
	7	W.W. Grainger, Inc.		2,038
				7,068
		Water Utilities — 0.3%
	47	American Water Works Co., Inc.		5,395
	75	Aqua America, Inc.		3,146
				8,541
		Total Common Stocks (Identified Cost $1,912,714)		1,953,346
Principal Amount		Description	Value (†)
	Bonds and Notes — 3.6%
		Agency Commercial Mortgage-Backed Securities — 0.0%
$	1,000	FHLMC Multifamily Structured Pass Through Certificates, Series K012, Class A2, 4.185%, 12/25/2020(b)	$	1,022
		Automotive — 0.1%
	2,000	Toyota Motor Credit Corp., MTN, 2.600%, 1/11/2022		2,018
		Banking — 0.6%
	2,000	American Express Co., 3.700%, 8/03/2023		2,089
	1,000	Bank of America Corp., (fixed rate to 1/20/2022, variable rate thereafter), MTN, 3.124%, 1/20/2023		1,015
	2,000	Bank of Montreal, MTN, 1.900%, 8/27/2021		1,987
	2,000	Bank of New York Mellon Corp. (The), Series 10YR, MTN, 3.650%, 2/04/2024		2,108
	1,000	BNP Paribas S.A., MTN, 3.250%, 3/03/2023		1,032
	1,000	Citigroup, Inc., 4.600%, 3/09/2026		1,080
	1,000	Deutsche Bank AG, GMTN, 3.375%, 5/12/2021		995
	2,000	Goldman Sachs Group, Inc. (The), 3.750%, 5/22/2025		2,089
	1,000	HSBC Holdings PLC, 5.100%, 4/05/2021		1,044
	2,000	JPMorgan Chase & Co., (fixed rate to 3/01/2024, variable rate thereafter), 3.220%, 3/01/2025		2,053
	1,000	Morgan Stanley, Series F, 3.875%, 4/29/2024		1,056
	1,000	Royal Bank of Canada, GMTN, 2.150%, 3/06/2020		999
	1,000	Santander UK PLC, 2.375%, 3/16/2020		999
	1,000	SunTrust Bank, 2.250%, 1/31/2020		999
	1,000	Wells Fargo & Co., MTN, 3.000%, 2/19/2025		1,018
	1,000	Westpac Banking Corp., 2.750%, 1/11/2023		1,012
				21,575
		Construction Machinery — 0.0%
	1,000	John Deere Capital Corp., MTN, 2.650%, 1/06/2022		1,010
		Consumer Cyclical Services — 0.1%
	2,000	eBay, Inc., 3.800%, 3/09/2022		2,064
		Electric — 0.1%
	2,000	Virginia Electric & Power Co., Series A, 3.150%, 1/15/2026		2,072
		Government Owned – No Guarantee — 0.1%
	2,000	Federal National Mortgage Association, 6.625%, 11/15/2030		2,849
		Health Insurance — 0.1%
	2,000	Anthem, Inc., 4.101%, 3/01/2028		2,127
	1,000	UnitedHealth Group, Inc., 5.800%, 3/15/2036		1,299
				3,426
		Healthcare — 0.1%
	1,000	CVS Health Corp., 3.875%, 7/20/2025		1,044
	2,000	Express Scripts Holding Co., 4.500%, 2/25/2026		2,163
	2,000	McKesson Corp., 3.950%, 2/16/2028		2,076
				5,283
		Integrated Energy — 0.1%
	1,000	BP Capital Markets PLC, 3.814%, 2/10/2024		1,057
	1,000	Chevron Corp., 1.961%, 3/03/2020		999
	1,000	Shell International Finance BV, 6.375%, 12/15/2038		1,431
				3,487
		Media Entertainment — 0.0%
	1,000	Viacom, Inc., 6.875%, 4/30/2036		1,267
		Midstream — 0.1%
	1,000	Enterprise Products Operating LLC, 2.550%, 10/15/2019		1,000
	1,000	Kinder Morgan Energy Partners LP, 4.150%, 2/01/2024		1,054
				2,054

See accompanying notes to financial statements.

|  62

Portfolio of Investments – as of July 31, 2019 (Unaudited)

Natixis Sustainable Future 2050 Fund – (continued)

Principal Amount		Description	Value (†)
		Mortgage Related — 0.8%
$	10,742	FNMA, 3.000%, with various maturities from 2034 to 2049(c)	$	10,891
	9,115	FNMA, 3.500%, 6/01/2049		9,343
	3,629	FNMA, 4.000%, 2/01/2049		3,755
	1,947	FNMA, 4.500%, 5/01/2049		2,042
				26,031
		Oil Field Services — 0.1%
	2,000	Baker Hughes a GE Co. LLC/Baker HughesCo-Obligor, Inc., 2.773%, 12/15/2022		2,016
		Railroads — 0.1%
	2,000	CSX Corp., 2.600%, 11/01/2026		1,997
		REITs – Office Property — 0.0%
	1,000	Boston Properties LP, 2.750%, 10/01/2026		994
		Restaurants — 0.1%
	2,000	Starbucks Corp., 3.800%, 8/15/2025		2,125
		Technology — 0.2%
	1,000	Apple, Inc., 2.500%, 2/09/2025		1,008
	1,000	International Business Machines Corp., 4.000%, 6/20/2042		1,054
	2,000	Oracle Corp., 2.950%, 5/15/2025		2,052
	2,000	QUALCOMM, Inc., 3.450%, 5/20/2025		2,083
				6,197
		Treasuries — 0.9%
	1,000	U.S. Treasury Bond, 2.500%, 5/15/2046		994
	3,000	U.S. Treasury Bond, 2.875%, 11/15/2046		3,208
	4,000	U.S. Treasury Bond, 3.000%, 5/15/2045		4,371
	1,000	U.S. Treasury Bond, 3.000%, 2/15/2048		1,095
	1,000	U.S. Treasury Bond, 3.000%, 2/15/2049		1,098
	1,000	U.S. Treasury Bond, 4.250%, 11/15/2040		1,311
	1,000	U.S. Treasury Bond, 4.375%, 5/15/2041		1,334
	2,000	U.S. Treasury Bond, 5.250%, 2/15/2029		2,561
	2,000	U.S. Treasury Note, 1.125%, 12/31/2019		1,991
	2,000	U.S. Treasury Note, 1.125%, 4/30/2020		1,985
	2,000	U.S. Treasury Note, 1.125%, 9/30/2021		1,968
	3,000	U.S. Treasury Note, 1.750%, 5/15/2023		2,988
	1,000	U.S. Treasury Note, 2.000%, 11/15/2026		1,004
	1,000	U.S. Treasury Note, 2.125%, 12/31/2022		1,009
	1,000	U.S. Treasury Note, 2.250%, 11/15/2027		1,020
	1,000	U.S. Treasury Note, 2.625%, 12/31/2023		1,032
	1,000	U.S. Treasury Note, 2.625%, 2/15/2029		1,052
	1,000	U.S. Treasury Note, 2.875%, 9/30/2023		1,041
				31,062
		Wireless — 0.0%
	1,000	Vodafone Group PLC, 6.150%, 2/27/2037		1,226
		Total Bonds and Notes (Identified Cost $117,191)		119,775
Shares
	Exchange-Traded Funds — 15.9%
	5,543	iShares® ESG MSCI EAFE ETF		349,930
	5,376	iShares® ESG MSCI Emerging Markets ETF		179,182
		Total Exchange-Traded Funds (Identified Cost $520,010)		529,112
	Affiliated Mutual Funds — 18.9%
	5,232	Mirova Global Green Bond Fund, Class N	$	55,247
	51,379	Mirova International Sustainable Equity Fund, Class N		575,962
		Total Affiliated Mutual Funds (Identified Cost $613,836)		631,209
		Total Investments — 97.0% (Identified Cost $3,163,751)		3,233,442
		Other assets less liabilities — 3.0%		100,364
		Net Assets — 100.0%	$	3,333,806
	(†)	See Note 2 of Notes to Financial Statements.
	(a)	Non-income producing security.
	(b)	Variable rate security. The interest rate adjusts periodically based on; (i) changes in current interest rates and/or prepayments on underlying pools of assets, if applicable, (ii) reference to a base lending rate plus or minus a margin, and/or (iii) reference to a base lending rate adjusted by a multiplier and/or subject to certain floors or caps. Rate as of July 31, 2019 is disclosed.
	(c)	The Fund’s investment in mortgage related securities of Federal National Mortgage Association are interests in separate pools of mortgages. All separate investments in securities of each issuer which have the same coupon rate have been aggregated for the purpose of presentation in the Portfolio of Investments.
	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.
	ETF	Exchange-Traded Fund
	FHLMC	Federal Home Loan Mortgage Corp.
	FNMA	Federal National Mortgage Association
	GMTN	Global Medium Term Note
	MTN	Medium Term Note
	REITs	Real Estate Investment Trusts

Asset Allocation Summary at July 31, 2019 (Unaudited)

Equity	91.8	%
Fixed Income	5.2
Total Investments	97.0
Other assets less liabilities	3.0
Net Assets	100.0	%

See accompanying notes to financial statements.

63  |

Portfolio of Investments – as of July 31, 2019 (Unaudited)

Natixis Sustainable Future 2055 Fund

Shares		Description	Value (†)
	Common Stocks — 58.7% of Net Assets
		Aerospace & Defense — 0.4%
	17	Axon Enterprise, Inc.(a)	$	1,194
	24	Moog, Inc., Class A		1,955
	3	Raytheon Co.		547
	13	Teledyne Technologies, Inc.(a)		3,786
	33	United Technologies Corp.		4,409
				11,891
		Air Freight & Logistics — 0.9%
	252	Expeditors International of Washington, Inc.		19,240
	34	FedEx Corp.		5,798
	36	United Parcel Service, Inc., Class B		4,301
				29,339
		Airlines — 0.2%
	248	American Airlines Group, Inc.		7,566
		Auto Components — 0.4%
	103	American Axle & Manufacturing Holdings, Inc.(a)		1,243
	75	Aptiv PLC		6,574
	15	BorgWarner, Inc.		567
	112	Delphi Technologies PLC		2,099
	19	Visteon Corp.(a)		1,252
				11,735
		Automobiles — 0.7%
	813	Fiat Chrysler Automobiles NV		10,724
	283	General Motors Co.		11,416
				22,140
		Banks — 3.9%
	59	Ameris Bancorp		2,346
	116	BancorpSouth Bank		3,467
	642	Bank of America Corp.		19,697
	103	BB&T Corp.		5,308
	285	Citigroup, Inc.		20,281
	120	Citizens Financial Group, Inc.		4,471
	89	Columbia Banking System, Inc.		3,356
	14	Comerica, Inc.		1,025
	212	CVB Financial Corp.		4,666
	204	Fulton Financial Corp.		3,468
	86	Huntington Bancshares, Inc.		1,225
	103	International Bancshares Corp.		3,876
	180	KeyCorp		3,307
	18	M&T Bank Corp.		2,956
	324	People’s United Financial, Inc.		5,320
	65	PNC Financial Services Group, Inc. (The)		9,288
	117	Regions Financial Corp.		1,864
	160	Trustmark Corp.		5,686
	241	Wells Fargo & Co.		11,667
	56	Westamerica Bancorporation		3,590
	40	Wintrust Financial Corp.		2,862
	42	Zions Bancorp N.A.		1,893
				121,619
		Beverages — 1.8%
	32	Brown-Forman Corp., Class B		1,754
	305	Coca-Cola Co. (The)		16,052
	49	Constellation Brands, Inc., Class A		9,644
	383	Monster Beverage Corp.(a)		24,692
	37	PepsiCo, Inc.		4,729
				56,871
		Biotechnology — 1.8%
	18	AbbVie, Inc.		1,199
	57	Amgen, Inc.		10,635
	5	Biogen, Inc.(a)		1,189
		Biotechnology — continued
	97	BioMarin Pharmaceutical, Inc.(a)	$	7,694
	17	Celgene Corp.(a)		1,562
	43	Gilead Sciences, Inc.		2,817
	14	Ligand Pharmaceuticals, Inc.(a)		1,281
	51	Medicines Co. (The)(a)		1,828
	80	Regeneron Pharmaceuticals, Inc.(a)		24,381
	28	Repligen Corp.(a)		2,643
	2	Vertex Pharmaceuticals, Inc.(a)		333
				55,562
		Building Products — 0.4%
	178	Johnson Controls International PLC		7,554
	16	Lennox International, Inc.		4,104
				11,658
		Capital Markets — 4.3%
	3	Affiliated Managers Group, Inc.		257
	9	Ameriprise Financial, Inc.		1,310
	340	Bank of New York Mellon Corp. (The)		15,953
	11	BlackRock, Inc.		5,145
	336	Charles Schwab Corp. (The)		14,522
	17	CME Group, Inc.		3,305
	46	FactSet Research Systems, Inc.		12,756
	64	Franklin Resources, Inc.		2,088
	37	Goldman Sachs Group, Inc. (The)		8,145
	8	Intercontinental Exchange, Inc.		703
	36	Invesco Ltd.		691
	75	Janus Henderson Group PLC		1,505
	81	Legg Mason, Inc.		3,051
	60	Moody’s Corp.		12,860
	55	MSCI, Inc.		12,498
	39	Northern Trust Corp.		3,822
	33	S&P Global, Inc.		8,083
	212	SEI Investments Co.		12,633
	248	State Street Corp.		14,406
				133,733
		Chemicals — 0.7%
	22	Ecolab, Inc.		4,438
	41	HB Fuller Co.		1,960
	29	Innospec, Inc.		2,708
	4	International Flavors & Fragrances, Inc.		576
	41	Linde PLC		7,843
	37	Minerals Technologies, Inc.		1,970
	21	Stepan Co.		2,082
				21,577
		Commercial Services & Supplies — 0.3%
	39	Healthcare Services Group, Inc.		932
	21	MSA Safety, Inc.		2,212
	33	Tetra Tech, Inc.		2,614
	16	Waste Management, Inc.		1,872
				7,630
		Communications Equipment — 0.8%
	50	Ciena Corp.(a)		2,261
	348	Cisco Systems, Inc.		19,279
	26	InterDigital, Inc.		1,675
	27	Lumentum Holdings, Inc.(a)		1,529
	6	Motorola Solutions, Inc.		996
				25,740
		Construction & Engineering — 0.1%
	104	AECOM(a)		3,739

See accompanying notes to financial statements.

|  64

Portfolio of Investments – as of July 31, 2019 (Unaudited)

Natixis Sustainable Future 2055 Fund – (continued)

Shares		Description	Value (†)
		Consumer Finance — 0.9%
	82	American Express Co.	$	10,198
	199	Capital One Financial Corp.		18,392
	38	Navient Corp.		538
				29,128
		Containers & Packaging — 0.2%
	50	Ball Corp.		3,574
	10	Crown Holdings, Inc.(a)		640
	36	International Paper Co.		1,581
	89	Owens-Illinois, Inc.		1,510
				7,305
		Distributors — 0.2%
	29	Genuine Parts Co.		2,816
	15	POOL CORP.		2,841
				5,657
		Diversified Consumer Services — 0.1%
	65	Service Corp. International		2,999
		Diversified Telecommunication Services — 0.1%
	62	AT&T, Inc.		2,111
	33	Verizon Communications, Inc.		1,824
				3,935
		Electric Utilities — 0.4%
	93	American Electric Power Co., Inc.		8,166
	21	Edison International		1,565
	15	Eversource Energy		1,138
	29	IDACORP, Inc.		2,960
				13,829
		Electrical Equipment — 0.2%
	11	Acuity Brands, Inc.		1,476
	30	Eaton Corp. PLC		2,466
	19	Hubbell, Inc.		2,468
				6,410
		Electronic Equipment, Instruments & Components — 1.0%
	52	Avnet, Inc.		2,362
	24	Belden, Inc.		1,091
	54	Cognex Corp.		2,376
	12	Coherent, Inc.(a)		1,666
	11	Littelfuse, Inc.		1,859
	10	Rogers Corp.(a)		1,587
	142	TE Connectivity Ltd.		13,121
	64	Trimble, Inc.(a)		2,705
	95	Vishay Intertechnology, Inc.		1,615
	14	Zebra Technologies Corp., Class A(a)		2,952
				31,334
		Energy Equipment & Services — 0.8%
	35	Apergy Corp.(a)		1,138
	44	Baker Hughes, a GE Co.		1,117
	65	C&J Energy Services, Inc.(a)		711
	16	Core Laboratories NV		803
	174	Halliburton Co.		4,002
	63	National Oilwell Varco, Inc.		1,501
	59	Oceaneering International, Inc.(a)		911
	52	Oil States International, Inc.(a)		776
	280	Schlumberger Ltd.		11,192
	42	TechnipFMC PLC		1,157
	94	U.S. Silica Holdings, Inc.		1,303
				24,611
		Entertainment — 1.2%
	27	Activision Blizzard, Inc.		1,316
	45	Cinemark Holdings, Inc.		1,796
		Entertainment — continued
	15	Electronic Arts, Inc.(a)	$	1,388
	54	Netflix, Inc.(a)		17,441
	3	Take-Two Interactive Software, Inc.(a)		368
	11	Viacom, Inc., Class B		334
	100	Walt Disney Co. (The)		14,301
				36,944
		Food & Staples Retailing — 0.2%
	75	Kroger Co. (The)		1,587
	177	SpartanNash Co.		2,092
	10	Sysco Corp.		686
	14	Walgreens Boots Alliance, Inc.		763
				5,128
		Food Products — 0.7%
	52	Campbell Soup Co.		2,150
	650	Danone S.A., Sponsored ADR		11,193
	18	General Mills, Inc.		956
	58	Hain Celestial Group, Inc. (The)(a)		1,263
	2	Hershey Co. (The)		303
	18	Ingredion, Inc.		1,391
	11	J.M. Smucker Co. (The)		1,223
	12	Kellogg Co.		699
	56	Kraft Heinz Co. (The)		1,793
	7	Mondelez International, Inc., Class A		374
				21,345
		Gas Utilities — 0.3%
	62	New Jersey Resources Corp.		3,092
	33	ONE Gas, Inc.		3,009
	62	South Jersey Industries, Inc.		2,111
				8,212
		Health Care Equipment & Supplies — 0.8%
	16	Alcon, Inc.(a)		940
	4	Align Technology, Inc.(a)		836
	1	Becton Dickinson and Co.		253
	9	Boston Scientific Corp.(a)		382
	3	Danaher Corp.		422
	21	DENTSPLY SIRONA, Inc.		1,143
	1	Edwards Lifesciences Corp.(a)		213
	31	Globus Medical, Inc.(a)		1,413
	15	Haemonetics Corp.(a)		1,831
	1	Intuitive Surgical, Inc.(a)		520
	108	Meridian Bioscience, Inc.		1,291
	24	Merit Medical Systems, Inc.(a)		947
	34	STERIS PLC		5,061
	1	Stryker Corp.		210
	63	Varian Medical Systems, Inc.(a)		7,394
	20	West Pharmaceutical Services, Inc.		2,745
				25,601
		Health Care Providers & Services — 1.4%
	33	Acadia Healthcare Co., Inc.(a)		1,054
	10	Amedisys, Inc.(a)		1,379
	3	Anthem, Inc.		884
	21	BioTelemetry, Inc.(a)		986
	66	Centene Corp.(a)		3,438
	8	Chemed Corp.		3,243
	5	Cigna Corp.		850
	226	CVS Health Corp.		12,627
	26	Encompass Health Corp.		1,660
	51	HCA Healthcare, Inc.		6,809
	24	Henry Schein, Inc.(a)		1,597
	3	Humana, Inc.		890
	10	Laboratory Corp. of America Holdings(a)		1,675

See accompanying notes to financial statements.

65  |

Portfolio of Investments – as of July 31, 2019 (Unaudited)

Natixis Sustainable Future 2055 Fund – (continued)

Shares		Description	Value (†)
		Health Care Providers & Services — continued
	33	MEDNAX, Inc.(a)	$	811
	53	Patterson Cos., Inc.		1,049
	18	Quest Diagnostics, Inc.		1,837
	14	UnitedHealth Group, Inc.		3,486
				44,275
		Health Care Technology — 0.5%
	114	Allscripts Healthcare Solutions, Inc.(a)		1,174
	176	Cerner Corp.		12,610
	24	Medidata Solutions, Inc.(a)		2,193
				15,977
		Hotels, Restaurants & Leisure — 2.5%
	9	Domino’s Pizza, Inc.		2,201
	30	Dunkin’ Brands Group, Inc.		2,405
	83	Hilton Worldwide Holdings, Inc.		8,014
	18	Jack in the Box, Inc.		1,293
	19	Marriott Vacations Worldwide Corp.		1,942
	3	McDonald’s Corp.		632
	365	MGM Resorts International		10,957
	27	Six Flags Entertainment Corp.		1,426
	221	Starbucks Corp.		20,927
	113	Wendy’s Co. (The)		2,055
	374	Yum China Holdings, Inc.		17,017
	73	Yum! Brands, Inc.		8,214
				77,083
		Household Durables — 0.3%
	9	iRobot Corp.(a)		658
	85	KB Home		2,233
	70	Meritage Homes Corp.(a)		4,397
	42	Tupperware Brands Corp.		643
				7,931
		Household Products — 1.0%
	139	Colgate-Palmolive Co.		9,972
	171	Procter & Gamble Co. (The)		20,185
				30,157
		Independent Power & Renewable Electricity Producers — 0.2%
	61	AES Corp. (The)		1,024
	51	Ormat Technologies, Inc.		3,343
	121	Pattern Energy Group, Inc.		2,775
				7,142
		Industrial Conglomerates — 0.4%
	1,242	General Electric Co.		12,979
		Insurance — 1.4%
	9	Aflac, Inc.		474
	31	Allstate Corp. (The)		3,329
	249	American International Group, Inc.		13,942
	7	Brighthouse Financial, Inc.(a)		274
	51	Chubb Ltd.		7,795
	49	First American Financial Corp.		2,833
	16	Hartford Financial Services Group, Inc. (The)		922
	10	Lincoln National Corp.		653
	21	Marsh & McLennan Cos., Inc.		2,075
	16	MetLife, Inc.		791
	54	Prudential Financial, Inc.		5,471
	23	Travelers Cos., Inc. (The)		3,372
				41,931
		Interactive Media & Services — 2.8%
	11	Alphabet, Inc., Class A(a)		13,400
	28	Alphabet, Inc., Class C(a)		34,067
	201	Facebook, Inc., Class A(a)		39,041
	7	TripAdvisor, Inc.(a)		309
				86,817
		Internet & Direct Marketing Retail — 2.9%
	149	Alibaba Group Holding Ltd., Sponsored ADR(a)	$	25,793
	20	Amazon.com, Inc.(a)		37,336
	9	Booking Holdings, Inc.(a)		16,979
	245	eBay, Inc.		10,092
				90,200
		IT Services — 3.0%
	78	Automatic Data Processing, Inc.		12,989
	8	Cognizant Technology Solutions Corp., Class A		521
	135	DXC Technology Co.		7,529
	54	Gartner, Inc.(a)		7,524
	9	International Business Machines Corp.		1,334
	40	Leidos Holdings, Inc.		3,284
	46	MasterCard, Inc., Class A		12,524
	12	PayPal Holdings, Inc.(a)		1,325
	159	Sabre Corp.		3,738
	218	Visa, Inc., Class A		38,804
	48	Western Union Co. (The)		1,008
	15	WEX, Inc.(a)		3,271
				93,851
		Leisure Products — 0.0%
	69	Callaway Golf Co.		1,265
		Life Sciences Tools & Services — 0.1%
	1	Illumina, Inc.(a)		300
	8	IQVIA Holdings, Inc.(a)		1,273
	6	Thermo Fisher Scientific, Inc.		1,666
				3,239
		Machinery — 2.5%
	37	AGCO Corp.		2,849
	92	Caterpillar, Inc.		12,114
	56	Cummins, Inc.		9,184
	91	Deere & Co.		15,074
	43	Flowserve Corp.		2,151
	29	IDEX Corp.		4,878
	52	ITT, Inc.		3,246
	60	Kennametal, Inc.		2,075
	39	Oshkosh Corp.		3,259
	85	Parker Hannifin Corp.		14,882
	11	Proto Labs, Inc.(a)		1,145
	50	Terex Corp.		1,523
	43	Toro Co. (The)		3,131
	6	Xylem, Inc.		482
				75,993
		Media — 1.2%
	3	Cable One, Inc.		3,650
	17	CBS Corp., Class B		876
	35	Charter Communications, Inc., Class A(a)		13,488
	304	Comcast Corp., Class A		13,124
	31	Discovery, Inc., Series C(a)		876
	14	Interpublic Group of Cos., Inc. (The)		321
	55	New York Times Co. (The), Class A		1,962
	90	News Corp., Class A		1,184
	22	Omnicom Group, Inc.		1,765
				37,246
		Metals & Mining — 0.4%
	91	Commercial Metals Co.		1,593
	100	Newmont Goldcorp Corp.		3,652
	15	Nucor Corp.		816
	38	Reliance Steel & Aluminum Co.		3,798
	26	Royal Gold, Inc.		2,976
				12,835

See accompanying notes to financial statements.

|  66

Portfolio of Investments – as of July 31, 2019 (Unaudited)

Natixis Sustainable Future 2055 Fund – (continued)

Shares		Description	Value (†)
		Multi-Utilities — 0.2%
	54	Consolidated Edison, Inc.	$	4,588
	9	DTE Energy Co.		1,144
	14	Sempra Energy		1,896
				7,628
		Multiline Retail — 0.1%
	11	Macy’s, Inc.		250
	14	Target Corp.		1,210
				1,460
		Oil, Gas & Consumable Fuels — 1.4%
	318	Apache Corp.		7,765
	1,784	Chesapeake Energy Corp.(a)		3,229
	60	Concho Resources, Inc.		5,861
	589	Denbury Resources, Inc.(a)		666
	54	Diamondback Energy, Inc.		5,585
	60	EOG Resources, Inc.		5,151
	88	EQT Corp.		1,330
	74	Green Plains, Inc.		747
	47	Hess Corp.		3,047
	107	Noble Energy, Inc.		2,363
	39	ONEOK, Inc.		2,733
	28	Valero Energy Corp.		2,387
	48	World Fuel Services Corp.		1,874
				42,738
		Paper & Forest Products — 0.1%
	38	Domtar Corp.		1,613
	67	Louisiana-Pacific Corp.		1,751
				3,364
		Personal Products — 0.0%
	3	Estee Lauder Cos., Inc. (The), Class A		553
		Pharmaceuticals — 1.1%
	1	Allergan PLC		161
	16	Bristol-Myers Squibb Co.		711
	48	Catalent, Inc.(a)		2,712
	13	Eli Lilly & Co.		1,416
	71	Merck & Co., Inc.		5,892
	71	Novartis AG, Sponsored ADR		6,502
	254	Novo Nordisk AS, Sponsored ADR		12,172
	24	Perrigo Co. PLC		1,296
	73	Pfizer, Inc.		2,835
				33,697
		Professional Services — 0.3%
	37	Exponent, Inc.		2,546
	14	Insperity, Inc.		1,489
	38	Korn Ferry		1,493
	24	ManpowerGroup, Inc.		2,192
	44	Nielsen Holdings PLC		1,019
				8,739
		Real Estate Management & Development — 0.1%
	14	CBRE Group, Inc., Class A(a)		742
	20	Jones Lang LaSalle, Inc.		2,914
				3,656
		REITs – Apartments — 0.4%
	76	American Campus Communities, Inc.		3,553
	3	AvalonBay Communities, Inc.		626
	50	Camden Property Trust		5,186
	8	Equity Residential		631
	4	Essex Property Trust, Inc.		1,209
	4	Mid-America Apartment Communities, Inc.		471
				11,676
		REITs – Diversified — 0.1%
	5	Crown Castle International Corp.	$	666
	9	Digital Realty Trust, Inc.		1,029
	2	Equinix, Inc.		1,004
	62	Weyerhaeuser Co.		1,576
				4,275
		REITs – Health Care — 0.2%
	25	Ventas, Inc.		1,682
	38	Welltower, Inc.		3,159
				4,841
		REITs – Hotels — 0.1%
	89	Host Hotels & Resorts, Inc.		1,548
		REITs – Office Property — 0.6%
	11	Boston Properties, Inc.		1,462
	104	Corporate Office Properties Trust		2,904
	129	Douglas Emmett, Inc.		5,266
	172	Easterly Government Properties, Inc.		3,245
	54	Kilroy Realty Corp.		4,291
				17,168
		REITs – Regional Malls — 0.1%
	5	Macerich Co. (The)		165
	9	Simon Property Group, Inc.		1,460
				1,625
		REITs – Storage — 0.1%
	32	Iron Mountain, Inc.		941
	2	Public Storage		486
				1,427
		REITs – Warehouse/Industrials — 0.2%
	35	CyrusOne, Inc.		2,009
	94	Liberty Property Trust		4,916
				6,925
		Road & Rail — 0.5%
	33	Genesee & Wyoming, Inc., Class A(a)		3,624
	19	Kansas City Southern		2,351
	28	Norfolk Southern Corp.		5,351
	32	Ryder System, Inc.		1,704
	20	Union Pacific Corp.		3,599
				16,629
		Semiconductors & Semiconductor Equipment — 2.3%
	13	Advanced Micro Devices, Inc.(a)		396
	59	Applied Materials, Inc.		2,913
	40	Brooks Automation, Inc.		1,552
	24	Cabot Microelectronics Corp.		2,919
	42	Cirrus Logic, Inc.(a)		2,060
	29	Cree, Inc.(a)		1,803
	64	First Solar, Inc.(a)		4,127
	235	Intel Corp.		11,879
	6	Lam Research Corp.		1,252
	8	Microchip Technology, Inc.		755
	87	NVIDIA Corp.		14,679
	199	QUALCOMM, Inc.		14,559
	33	Silicon Laboratories, Inc.(a)		3,703
	80	Texas Instruments, Inc.		10,001
				72,598
		Software — 2.6%
	6	Adobe, Inc.(a)		1,793
	139	Autodesk, Inc.(a)		21,708
	23	Blackbaud, Inc.		2,093
	32	Bottomline Technologies, Inc.(a)		1,347
	12	Fair Isaac Corp.(a)		4,169

See accompanying notes to financial statements.

67  |

Portfolio of Investments – as of July 31, 2019 (Unaudited)

Natixis Sustainable Future 2055 Fund – (continued)

Shares		Description	Value (†)
		Software — continued
	18	LogMeIn, Inc.	$	1,367
	126	Microsoft Corp.		17,170
	470	Oracle Corp.		26,461
	28	PTC, Inc.(a)		1,898
	22	Qualys, Inc.(a)		1,904
	2	salesforce.com, inc.(a)		309
	30	Symantec Corp.		647
				80,866
		Specialty Retail — 0.7%
	25	Aaron’s, Inc.		1,576
	74	American Eagle Outfitters, Inc.		1,309
	25	Asbury Automotive Group, Inc.(a)		2,302
	9	Best Buy Co., Inc.		689
	13	Five Below, Inc.(a)		1,527
	30	Home Depot, Inc. (The)		6,411
	19	Lithia Motors, Inc., Class A		2,506
	17	Lowe’s Cos., Inc.		1,724
	21	Monro, Inc.		1,768
	12	Tiffany & Co.		1,127
	27	Williams-Sonoma, Inc.		1,800
				22,739
		Technology Hardware, Storage & Peripherals — 1.8%
	206	Apple, Inc.		43,886
	197	Hewlett Packard Enterprise Co.		2,831
	141	HP, Inc.		2,966
	70	NCR Corp.(a)		2,367
	12	NetApp, Inc.		702
	20	Seagate Technology PLC		926
	7	Western Digital Corp.		377
	47	Xerox Corp.		1,509
				55,564
		Textiles, Apparel & Luxury Goods — 0.7%
	16	Deckers Outdoor Corp.(a)		2,500
	15	Hanesbrands, Inc.		241
	17	NIKE, Inc., Class B		1,463
	4	PVH Corp.		356
	690	Under Armour, Inc., Class A(a)		15,918
	60	Wolverine World Wide, Inc.		1,629
				22,107
		Thrifts & Mortgage Finance — 0.1%
	227	New York Community Bancorp, Inc.		2,617
		Trading Companies & Distributors — 0.2%
	58	Fastenal Co.		1,786
	21	GATX Corp.		1,614
	12	United Rentals, Inc.(a)		1,519
	6	W.W. Grainger, Inc.		1,746
				6,665
		Water Utilities — 0.3%
	45	American Water Works Co., Inc.		5,165
	64	Aqua America, Inc.		2,685
				7,850
		Total Common Stocks (Identified Cost $1,777,694)		1,821,114
Principal Amount		Description	Value (†)
	Bonds and Notes — 3.5%
		Agency Commercial Mortgage-Backed Securities — 0.0%
$	1,000	FHLMC Multifamily Structured Pass Through Certificates, Series K012, Class A2, 4.185%, 12/25/2020(b)	$	1,022
		Automotive — 0.1%
	2,000	Toyota Motor Credit Corp., MTN, 2.600%, 1/11/2022		2,018
		Banking — 0.7%
	2,000	American Express Co., 3.700%, 8/03/2023		2,089
	2,000	Bank of America Corp., (fixed rate to 1/20/2022, variable rate thereafter), MTN, 3.124%, 1/20/2023		2,029
	2,000	Bank of Montreal, MTN, 1.900%, 8/27/2021		1,987
	1,000	Bank of New York Mellon Corp. (The), Series 10YR, MTN, 3.650%, 2/04/2024		1,054
	1,000	BNP Paribas S.A., MTN, 3.250%, 3/03/2023		1,032
	1,000	Citigroup, Inc., 4.600%, 3/09/2026		1,080
	1,000	Deutsche Bank AG, GMTN, 3.375%, 5/12/2021		996
	2,000	Goldman Sachs Group, Inc. (The), 3.750%, 5/22/2025		2,089
	2,000	HSBC Holdings PLC, 5.100%, 4/05/2021		2,087
	2,000	JPMorgan Chase & Co., (fixed rate to 3/01/2024, variable rate thereafter), 3.220%, 3/01/2025		2,053
	1,000	Morgan Stanley, Series F, 3.875%, 4/29/2024		1,056
	1,000	Royal Bank of Canada, GMTN, 2.150%, 3/06/2020		999
	1,000	Santander UK PLC, 2.375%, 3/16/2020		999
	1,000	SunTrust Bank, 2.250%, 1/31/2020		999
	1,000	Wells Fargo & Co., MTN, 3.000%, 2/19/2025		1,018
				21,567
		Construction Machinery — 0.0%
	1,000	John Deere Capital Corp., MTN, 2.650%, 1/06/2022		1,010
		Consumer Cyclical Services — 0.1%
	2,000	eBay, Inc., 3.800%, 3/09/2022		2,064
		Electric — 0.1%
	2,000	Virginia Electric & Power Co., Series A, 3.150%, 1/15/2026		2,072
		Government Owned – No Guarantee — 0.1%
	2,000	Federal National Mortgage Association, 6.625%, 11/15/2030		2,849
		Health Insurance — 0.1%
	2,000	Anthem, Inc., 4.101%, 3/01/2028		2,127
	1,000	UnitedHealth Group, Inc., 5.800%, 3/15/2036		1,300
				3,427
		Healthcare — 0.1%
	1,000	CVS Health Corp., 3.875%, 7/20/2025		1,044
	2,000	Express Scripts Holding Co., 4.500%, 2/25/2026		2,163
	2,000	McKesson Corp., 3.950%, 2/16/2028		2,076
				5,283
		Integrated Energy — 0.1%
	1,000	BP Capital Markets PLC, 3.814%, 2/10/2024		1,057
	1,000	Chevron Corp., 1.961%, 3/03/2020		999
	1,000	Shell International Finance BV, 6.375%, 12/15/2038		1,431
				3,487
		Midstream — 0.1%
	1,000	Enterprise Products Operating LLC, 2.550%, 10/15/2019		1,000
	1,000	Kinder Morgan Energy Partners LP, 4.150%, 2/01/2024		1,054
				2,054
		Mortgage Related — 0.8%
	9,785	FNMA, 3.000%, with various maturities from 2034 to 2049(c)		9,915
	8,999	FNMA, 3.500%, 6/01/2049		9,225

See accompanying notes to financial statements.

|  68

Portfolio of Investments – as of July 31, 2019 (Unaudited)

Natixis Sustainable Future 2055 Fund – (continued)

Principal Amount		Description	Value (†)
		Mortgage Related — continued
$	3,629	FNMA, 4.000%, 2/01/2049	$	3,755
	1,947	FNMA, 4.500%, 5/01/2049		2,042
				24,937
		Railroads — 0.1%
	2,000	CSX Corp., 2.600%, 11/01/2026		1,997
		REITs – Office Property — 0.0%
	1,000	Boston Properties LP, 2.750%, 10/01/2026		994
		Restaurants — 0.1%
	2,000	Starbucks Corp., 3.800%, 8/15/2025		2,125
		Technology — 0.2%
	1,000	Apple, Inc., 2.500%, 2/09/2025		1,008
	1,000	International Business Machines Corp., 4.000%, 6/20/2042		1,054
	2,000	Oracle Corp., 2.950%, 5/15/2025		2,052
	2,000	QUALCOMM, Inc., 3.450%, 5/20/2025		2,083
				6,197
		Treasuries — 0.8%
	1,000	U.S. Treasury Bond, 2.500%, 5/15/2046		994
	2,000	U.S. Treasury Bond, 2.875%, 11/15/2046		2,139
	4,000	U.S. Treasury Bond, 3.000%, 5/15/2045		4,371
	1,000	U.S. Treasury Bond, 3.000%, 2/15/2048		1,095
	1,000	U.S. Treasury Bond, 3.000%, 2/15/2049		1,097
	1,000	U.S. Treasury Bond, 4.250%, 11/15/2040		1,310
	1,000	U.S. Treasury Bond, 4.375%, 5/15/2041		1,334
	1,000	U.S. Treasury Bond, 5.250%, 2/15/2029		1,280
	3,000	U.S. Treasury Note, 1.125%, 12/31/2019		2,987
	1,000	U.S. Treasury Note, 1.125%, 4/30/2020		993
	1,000	U.S. Treasury Note, 1.125%, 9/30/2021		984
	1,000	U.S. Treasury Note, 1.750%, 5/15/2023		996
	1,000	U.S. Treasury Note, 2.000%, 11/15/2026		1,004
	1,000	U.S. Treasury Note, 2.125%, 12/31/2022		1,009
	1,000	U.S. Treasury Note, 2.250%, 11/15/2027		1,020
	1,000	U.S. Treasury Note, 2.625%, 2/15/2029		1,052
	1,000	U.S. Treasury Note, 2.875%, 9/30/2023		1,041
				24,706
		Wireless — 0.0%
	1,000	Vodafone Group PLC, 6.150%, 2/27/2037		1,226
		Total Bonds and Notes (Identified Cost $106,739)		109,035
Shares
	Exchange-Traded Funds — 16.8%
	5,609	iShares® ESG MSCI EAFE ETF		354,096
	5,050	iShares® ESG MSCI Emerging Markets ETF		168,317
		Total Exchange-Traded Funds (Identified Cost $510,601)		522,413
	Affiliated Mutual Funds — 18.2%
	4,686	Mirova Global Green Bond Fund, Class N		49,485
	45,974	Mirova International Sustainable Equity Fund, Class N		515,368
		Total Affiliated Mutual Funds (Identified Cost $548,580)		564,853
		Total Investments — 97.2% (Identified Cost $2,943,614)		3,017,415
		Other assets less liabilities — 2.8%		87,578
		Net Assets — 100.0%	$	3,104,993
	(†)	See Note 2 of Notes to Financial Statements.
	(a)	Non-income producing security.
	(b)	Variable rate security. The interest rate adjusts periodically based on; (i) changes in current interest rates and/or prepayments on underlying pools of assets, if applicable, (ii) reference to a base lending rate plus or minus a margin, and/or (iii) reference to a base lending rate adjusted by a multiplier and/or subject to certain floors or caps. Rate as of July 31, 2019 is disclosed.
	(c)	The Fund’s investment in mortgage related securities of Federal National Mortgage Association are interests in separate pools of mortgages. All separate investments in securities of each issuer which have the same coupon rate have been aggregated for the purpose of presentation in the Portfolio of Investments.
	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.
	ETF	Exchange-Traded Fund
	FHLMC	Federal Home Loan Mortgage Corp.
	FNMA	Federal National Mortgage Association
	GMTN	Global Medium Term Note
	MTN	Medium Term Note
	REITs	Real Estate Investment Trusts

Asset Allocation Summary at July 31, 2019 (Unaudited)

Equity	92.1	%
Fixed Income	5.1
Total Investments	97.2
Other assets less liabilities	2.8
Net Assets	100.0	%

See accompanying notes to financial statements.

69  |

Portfolio of Investments – as of July 31, 2019 (Unaudited)

Natixis Sustainable Future 2060 Fund

Shares		Description	Value (†)
	Common Stocks — 61.0% of Net Assets
		Aerospace & Defense — 0.4%
	15	Axon Enterprise, Inc.(a)	$	1,053
	20	Moog, Inc., Class A		1,629
	5	Raytheon Co.		912
	11	Teledyne Technologies, Inc.(a)		3,204
	35	United Technologies Corp.		4,676
				11,474
		Air Freight & Logistics — 1.0%
	227	Expeditors International of Washington, Inc.		17,332
	31	FedEx Corp.		5,286
	37	United Parcel Service, Inc., Class B		4,420
				27,038
		Airlines — 0.3%
	226	American Airlines Group, Inc.		6,895
		Auto Components — 0.4%
	100	American Axle & Manufacturing Holdings, Inc.(a)		1,207
	70	Aptiv PLC		6,136
	16	BorgWarner, Inc.		605
	102	Delphi Technologies PLC		1,911
	18	Visteon Corp.(a)		1,186
				11,045
		Automobiles — 0.7%
	743	Fiat Chrysler Automobiles NV		9,800
	258	General Motors Co.		10,408
				20,208
		Banks — 4.1%
	54	Ameris Bancorp		2,148
	97	BancorpSouth Bank		2,899
	588	Bank of America Corp.		18,040
	108	BB&T Corp.		5,565
	264	Citigroup, Inc.		18,786
	118	Citizens Financial Group, Inc.		4,397
	74	Columbia Banking System, Inc.		2,791
	14	Comerica, Inc.		1,025
	189	CVB Financial Corp.		4,160
	171	Fulton Financial Corp.		2,907
	74	Huntington Bancshares, Inc.		1,054
	86	International Bancshares Corp.		3,236
	172	KeyCorp		3,160
	19	M&T Bank Corp.		3,121
	321	People’s United Financial, Inc.		5,271
	68	PNC Financial Services Group, Inc. (The)		9,717
	124	Regions Financial Corp.		1,975
	134	Trustmark Corp.		4,762
	220	Wells Fargo & Co.		10,650
	46	Westamerica Bancorporation		2,949
	35	Wintrust Financial Corp.		2,504
	36	Zions Bancorp N.A.		1,622
				112,739
		Beverages — 1.9%
	27	Brown-Forman Corp., Class B		1,480
	302	Coca-Cola Co. (The)		15,894
	45	Constellation Brands, Inc., Class A		8,857
	346	Monster Beverage Corp.(a)		22,307
	39	PepsiCo, Inc.		4,984
				53,522
		Biotechnology — 1.9%
	16	AbbVie, Inc.		1,066
	54	Amgen, Inc.		10,075
		Biotechnology — continued
	5	Biogen, Inc.(a)	$	1,189
	94	BioMarin Pharmaceutical, Inc.(a)		7,456
	18	Celgene Corp.(a)		1,654
	44	Gilead Sciences, Inc.		2,883
	13	Ligand Pharmaceuticals, Inc.(a)		1,190
	47	Medicines Co. (The)(a)		1,685
	74	Regeneron Pharmaceuticals, Inc.(a)		22,552
	24	Repligen Corp.(a)		2,265
	2	Vertex Pharmaceuticals, Inc.(a)		333
				52,348
		Building Products — 0.4%
	188	Johnson Controls International PLC		7,978
	14	Lennox International, Inc.		3,591
				11,569
		Capital Markets — 4.5%
	2	Affiliated Managers Group, Inc.		172
	9	Ameriprise Financial, Inc.		1,310
	320	Bank of New York Mellon Corp. (The)		15,014
	10	BlackRock, Inc.		4,677
	305	Charles Schwab Corp. (The)		13,182
	15	CME Group, Inc.		2,916
	43	FactSet Research Systems, Inc.		11,924
	64	Franklin Resources, Inc.		2,088
	34	Goldman Sachs Group, Inc. (The)		7,484
	7	Intercontinental Exchange, Inc.		615
	35	Invesco Ltd.		672
	69	Janus Henderson Group PLC		1,385
	75	Legg Mason, Inc.		2,825
	56	Moody’s Corp.		12,003
	51	MSCI, Inc.		11,589
	39	Northern Trust Corp.		3,822
	30	S&P Global, Inc.		7,348
	194	SEI Investments Co.		11,560
	230	State Street Corp.		13,361
				123,947
		Chemicals — 0.7%
	17	Ecolab, Inc.		3,429
	37	HB Fuller Co.		1,769
	29	Innospec, Inc.		2,708
	4	International Flavors & Fragrances, Inc.		576
	43	Linde PLC		8,225
	32	Minerals Technologies, Inc.		1,704
	18	Stepan Co.		1,785
				20,196
		Commercial Services & Supplies — 0.2%
	39	Healthcare Services Group, Inc.		932
	19	MSA Safety, Inc.		2,002
	28	Tetra Tech, Inc.		2,218
	14	Waste Management, Inc.		1,638
				6,790
		Communications Equipment — 0.8%
	46	Ciena Corp.(a)		2,080
	303	Cisco Systems, Inc.		16,786
	26	InterDigital, Inc.		1,675
	25	Lumentum Holdings, Inc.(a)		1,416
	5	Motorola Solutions, Inc.		830
				22,787
		Construction & Engineering — 0.1%
	87	AECOM(a)		3,128

See accompanying notes to financial statements.

|  70

Portfolio of Investments – as of July 31, 2019 (Unaudited)

Natixis Sustainable Future 2060 Fund – (continued)

Shares		Description	Value (†)
		Consumer Finance — 1.0%
	84	American Express Co.	$	10,447
	183	Capital One Financial Corp.		16,913
	33	Navient Corp.		467
				27,827
		Containers & Packaging — 0.3%
	49	Ball Corp.		3,502
	8	Crown Holdings, Inc.(a)		512
	38	International Paper Co.		1,669
	77	Owens-Illinois, Inc.		1,307
				6,990
		Distributors — 0.2%
	30	Genuine Parts Co.		2,914
	14	POOL CORP.		2,651
				5,565
		Diversified Consumer Services — 0.1%
	57	Service Corp. International		2,630
		Diversified Telecommunication Services — 0.1%
	54	AT&T, Inc.		1,839
	28	Verizon Communications, Inc.		1,547
				3,386
		Electric Utilities — 0.5%
	99	American Electric Power Co., Inc.		8,693
	13	Edison International		969
	16	Eversource Energy		1,214
	27	IDACORP, Inc.		2,756
				13,632
		Electrical Equipment — 0.2%
	11	Acuity Brands, Inc.		1,476
	30	Eaton Corp. PLC		2,466
	19	Hubbell, Inc.		2,468
				6,410
		Electronic Equipment, Instruments & Components — 1.0%
	48	Avnet, Inc.		2,180
	23	Belden, Inc.		1,046
	49	Cognex Corp.		2,156
	11	Coherent, Inc.(a)		1,527
	10	Littelfuse, Inc.		1,690
	10	Rogers Corp.(a)		1,587
	129	TE Connectivity Ltd.		11,920
	59	Trimble, Inc.(a)		2,493
	88	Vishay Intertechnology, Inc.		1,496
	13	Zebra Technologies Corp., Class A(a)		2,741
				28,836
		Energy Equipment & Services — 0.8%
	29	Apergy Corp.(a)		944
	46	Baker Hughes, a GE Co.		1,168
	63	C&J Energy Services, Inc.(a)		689
	18	Core Laboratories NV		903
	159	Halliburton Co.		3,657
	66	National Oilwell Varco, Inc.		1,572
	58	Oceaneering International, Inc.(a)		896
	51	Oil States International, Inc.(a)		761
	264	Schlumberger Ltd.		10,552
	45	TechnipFMC PLC		1,239
	76	U.S. Silica Holdings, Inc.		1,053
				23,434
		Entertainment — 1.2%
	29	Activision Blizzard, Inc.		1,413
	42	Cinemark Holdings, Inc.		1,677
		Entertainment — continued
	10	Electronic Arts, Inc.(a)	$	925
	48	Netflix, Inc.(a)		15,503
	3	Take-Two Interactive Software, Inc.(a)		368
	9	Viacom, Inc., Class B		273
	97	Walt Disney Co. (The)		13,872
				34,031
		Food & Staples Retailing — 0.2%
	67	Kroger Co. (The)		1,418
	162	SpartanNash Co.		1,915
	8	Sysco Corp.		548
	12	Walgreens Boots Alliance, Inc.		654
				4,535
		Food Products — 0.7%
	55	Campbell Soup Co.		2,274
	577	Danone S.A., Sponsored ADR		9,936
	18	General Mills, Inc.		956
	57	Hain Celestial Group, Inc. (The)(a)		1,241
	3	Hershey Co. (The)		455
	17	Ingredion, Inc.		1,314
	11	J.M. Smucker Co. (The)		1,223
	10	Kellogg Co.		582
	59	Kraft Heinz Co. (The)		1,888
	6	Mondelez International, Inc., Class A		321
				20,190
		Gas Utilities — 0.3%
	52	New Jersey Resources Corp.		2,593
	31	ONE Gas, Inc.		2,827
	57	South Jersey Industries, Inc.		1,941
				7,361
		Health Care Equipment & Supplies — 0.9%
	16	Alcon, Inc.(a)		940
	5	Align Technology, Inc.(a)		1,045
	1	Becton Dickinson and Co.		253
	7	Boston Scientific Corp.(a)		297
	3	Danaher Corp.		421
	13	DENTSPLY SIRONA, Inc.		708
	1	Edwards Lifesciences Corp.(a)		213
	31	Globus Medical, Inc.(a)		1,413
	15	Haemonetics Corp.(a)		1,831
	1	Intuitive Surgical, Inc.(a)		520
	105	Meridian Bioscience, Inc.		1,255
	23	Merit Medical Systems, Inc.(a)		908
	30	STERIS PLC		4,466
	1	Stryker Corp.		210
	57	Varian Medical Systems, Inc.(a)		6,690
	20	West Pharmaceutical Services, Inc.		2,745
				23,915
		Health Care Providers & Services — 1.5%
	32	Acadia Healthcare Co., Inc.(a)		1,022
	10	Amedisys, Inc.(a)		1,379
	3	Anthem, Inc.		884
	23	BioTelemetry, Inc.(a)		1,080
	70	Centene Corp.(a)		3,646
	7	Chemed Corp.		2,838
	4	Cigna Corp.		680
	202	CVS Health Corp.		11,286
	24	Encompass Health Corp.		1,532
	46	HCA Healthcare, Inc.		6,141
	25	Henry Schein, Inc.(a)		1,663
	2	Humana, Inc.		593
	11	Laboratory Corp. of America Holdings(a)		1,843

See accompanying notes to financial statements.

71  |

Portfolio of Investments – as of July 31, 2019 (Unaudited)

Natixis Sustainable Future 2060 Fund – (continued)

Shares		Description	Value (†)
		Health Care Providers & Services — continued
	33	MEDNAX, Inc.(a)	$	811
	52	Patterson Cos., Inc.		1,030
	19	Quest Diagnostics, Inc.		1,940
	11	UnitedHealth Group, Inc.		2,739
				41,107
		Health Care Technology — 0.5%
	111	Allscripts Healthcare Solutions, Inc.(a)		1,143
	162	Cerner Corp.		11,608
	22	Medidata Solutions, Inc.(a)		2,010
				14,761
		Hotels, Restaurants & Leisure — 2.5%
	9	Domino’s Pizza, Inc.		2,201
	26	Dunkin’ Brands Group, Inc.		2,084
	76	Hilton Worldwide Holdings, Inc.		7,338
	18	Jack in the Box, Inc.		1,293
	17	Marriott Vacations Worldwide Corp.		1,738
	3	McDonald’s Corp.		632
	328	MGM Resorts International		9,847
	25	Six Flags Entertainment Corp.		1,321
	203	Starbucks Corp.		19,222
	98	Wendy’s Co. (The)		1,783
	335	Yum China Holdings, Inc.		15,242
	66	Yum! Brands, Inc.		7,426
				70,127
		Household Durables — 0.3%
	9	iRobot Corp.(a)		658
	78	KB Home		2,049
	58	Meritage Homes Corp.(a)		3,643
	42	Tupperware Brands Corp.		643
				6,993
		Household Products — 1.0%
	132	Colgate-Palmolive Co.		9,470
	163	Procter & Gamble Co. (The)		19,240
				28,710
		Independent Power & Renewable Electricity Producers — 0.2%
	64	AES Corp. (The)		1,074
	44	Ormat Technologies, Inc.		2,884
	104	Pattern Energy Group, Inc.		2,385
				6,343
		Industrial Conglomerates — 0.4%
	1,137	General Electric Co.		11,882
		Insurance — 1.5%
	7	Aflac, Inc.		368
	32	Allstate Corp. (The)		3,437
	231	American International Group, Inc.		12,934
	6	Brighthouse Financial, Inc.(a)		235
	53	Chubb Ltd.		8,100
	45	First American Financial Corp.		2,602
	13	Hartford Financial Services Group, Inc. (The)		749
	8	Lincoln National Corp.		523
	22	Marsh & McLennan Cos., Inc.		2,174
	13	MetLife, Inc.		642
	55	Prudential Financial, Inc.		5,572
	24	Travelers Cos., Inc. (The)		3,519
				40,855
		Interactive Media & Services — 2.9%
	11	Alphabet, Inc., Class A(a)		13,400
	25	Alphabet, Inc., Class C(a)		30,417
	189	Facebook, Inc., Class A(a)		36,710
	7	TripAdvisor, Inc.(a)		309
				80,836
		Internet & Direct Marketing Retail — 3.0%
	141	Alibaba Group Holding Ltd., Sponsored ADR(a)	$	24,408
	19	Amazon.com, Inc.(a)		35,469
	8	Booking Holdings, Inc.(a)		15,093
	220	eBay, Inc.		9,062
				84,032
		IT Services — 3.1%
	73	Automatic Data Processing, Inc.		12,156
	6	Cognizant Technology Solutions Corp., Class A		391
	126	DXC Technology Co.		7,027
	49	Gartner, Inc.(a)		6,827
	8	International Business Machines Corp.		1,186
	35	Leidos Holdings, Inc.		2,873
	41	MasterCard, Inc., Class A		11,163
	10	PayPal Holdings, Inc.(a)		1,104
	133	Sabre Corp.		3,127
	202	Visa, Inc., Class A		35,956
	50	Western Union Co. (The)		1,050
	14	WEX, Inc.(a)		3,053
				85,913
		Leisure Products — 0.0%
	68	Callaway Golf Co.		1,247
		Life Sciences Tools & Services — 0.1%
	1	Illumina, Inc.(a)		299
	9	IQVIA Holdings, Inc.(a)		1,433
	6	Thermo Fisher Scientific, Inc.		1,666
				3,398
		Machinery — 2.6%
	32	AGCO Corp.		2,464
	90	Caterpillar, Inc.		11,850
	54	Cummins, Inc.		8,856
	89	Deere & Co.		14,743
	45	Flowserve Corp.		2,251
	24	IDEX Corp.		4,037
	43	ITT, Inc.		2,684
	55	Kennametal, Inc.		1,902
	34	Oshkosh Corp.		2,842
	80	Parker Hannifin Corp.		14,007
	10	Proto Labs, Inc.(a)		1,041
	43	Terex Corp.		1,309
	38	Toro Co. (The)		2,767
	5	Xylem, Inc.		402
				71,155
		Media — 1.2%
	2	Cable One, Inc.		2,433
	15	CBS Corp., Class B		773
	32	Charter Communications, Inc., Class A(a)		12,332
	282	Comcast Corp., Class A		12,174
	32	Discovery, Inc., Series C(a)		904
	12	Interpublic Group of Cos., Inc. (The)		275
	47	New York Times Co. (The), Class A		1,677
	85	News Corp., Class A		1,118
	22	Omnicom Group, Inc.		1,765
				33,451
		Metals & Mining — 0.4%
	89	Commercial Metals Co.		1,559
	101	Newmont Goldcorp Corp.		3,689
	16	Nucor Corp.		870
	33	Reliance Steel & Aluminum Co.		3,298
	23	Royal Gold, Inc.		2,632
				12,048

See accompanying notes to financial statements.

|  72

Portfolio of Investments – as of July 31, 2019 (Unaudited)

Natixis Sustainable Future 2060 Fund – (continued)

Shares		Description	Value (†)
		Multi-Utilities — 0.3%
	57	Consolidated Edison, Inc.	$	4,843
	10	DTE Energy Co.		1,271
	15	Sempra Energy		2,031
				8,145
		Multiline Retail — 0.1%
	11	Macy’s, Inc.		250
	14	Target Corp.		1,210
				1,460
		Oil, Gas & Consumable Fuels — 1.5%
	291	Apache Corp.		7,106
	1,640	Chesapeake Energy Corp.(a)		2,968
	55	Concho Resources, Inc.		5,372
	551	Denbury Resources, Inc.(a)		623
	50	Diamondback Energy, Inc.		5,172
	55	EOG Resources, Inc.		4,722
	81	EQT Corp.		1,224
	72	Green Plains, Inc.		726
	50	Hess Corp.		3,242
	112	Noble Energy, Inc.		2,473
	41	ONEOK, Inc.		2,873
	29	Valero Energy Corp.		2,472
	41	World Fuel Services Corp.		1,601
				40,574
		Paper & Forest Products — 0.1%
	32	Domtar Corp.		1,359
	65	Louisiana-Pacific Corp.		1,699
				3,058
		Personal Products — 0.0%
	3	Estee Lauder Cos., Inc. (The), Class A		553
		Pharmaceuticals — 1.1%
	1	Allergan PLC		161
	13	Bristol-Myers Squibb Co.		577
	42	Catalent, Inc.(a)		2,373
	11	Eli Lilly & Co.		1,198
	64	Merck & Co., Inc.		5,311
	65	Novartis AG, Sponsored ADR		5,953
	228	Novo Nordisk AS, Sponsored ADR		10,926
	25	Perrigo Co. PLC		1,350
	62	Pfizer, Inc.		2,408
				30,257
		Professional Services — 0.3%
	34	Exponent, Inc.		2,339
	13	Insperity, Inc.		1,383
	35	Korn Ferry		1,375
	21	ManpowerGroup, Inc.		1,918
	44	Nielsen Holdings PLC		1,019
				8,034
		Real Estate Management & Development — 0.1%
	11	CBRE Group, Inc., Class A(a)		583
	19	Jones Lang LaSalle, Inc.		2,768
				3,351
		REITs – Apartments — 0.4%
	63	American Campus Communities, Inc.		2,945
	3	AvalonBay Communities, Inc.		627
	44	Camden Property Trust		4,563
	6	Equity Residential		473
	3	Essex Property Trust, Inc.		907
	4	Mid-America Apartment Communities, Inc.		471
				9,986
		REITs – Diversified — 0.1%
	5	Crown Castle International Corp.	$	666
	10	Digital Realty Trust, Inc.		1,144
	1	Equinix, Inc.		502
	62	Weyerhaeuser Co.		1,575
				3,887
		REITs – Health Care — 0.2%
	26	Ventas, Inc.		1,750
	33	Welltower, Inc.		2,743
				4,493
		REITs – Hotels — 0.1%
	93	Host Hotels & Resorts, Inc.		1,617
		REITs – Office Property — 0.5%
	8	Boston Properties, Inc.		1,064
	95	Corporate Office Properties Trust		2,652
	108	Douglas Emmett, Inc.		4,409
	144	Easterly Government Properties, Inc.		2,717
	48	Kilroy Realty Corp.		3,814
				14,656
		REITs – Regional Malls — 0.1%
	6	Macerich Co. (The)		198
	10	Simon Property Group, Inc.		1,622
				1,820
		REITs – Storage — 0.1%
	32	Iron Mountain, Inc.		941
	2	Public Storage		486
				1,427
		REITs – Warehouse/Industrials — 0.2%
	30	CyrusOne, Inc.		1,722
	78	Liberty Property Trust		4,079
				5,801
		Road & Rail — 0.6%
	29	Genesee & Wyoming, Inc., Class A(a)		3,185
	19	Kansas City Southern		2,351
	28	Norfolk Southern Corp.		5,351
	27	Ryder System, Inc.		1,438
	16	Union Pacific Corp.		2,879
				15,204
		Semiconductors & Semiconductor Equipment — 2.4%
	5	Advanced Micro Devices, Inc.(a)		152
	58	Applied Materials, Inc.		2,863
	34	Brooks Automation, Inc.		1,319
	20	Cabot Microelectronics Corp.		2,433
	36	Cirrus Logic, Inc.(a)		1,766
	26	Cree, Inc.(a)		1,617
	57	First Solar, Inc.(a)		3,676
	217	Intel Corp.		10,969
	6	Lam Research Corp.		1,252
	8	Microchip Technology, Inc.		755
	83	NVIDIA Corp.		14,004
	182	QUALCOMM, Inc.		13,315
	28	Silicon Laboratories, Inc.(a)		3,142
	75	Texas Instruments, Inc.		9,376
				66,639
		Software — 2.7%
	5	Adobe, Inc.(a)		1,494
	131	Autodesk, Inc.(a)		20,458
	21	Blackbaud, Inc.		1,911
	29	Bottomline Technologies, Inc.(a)		1,221
	10	Fair Isaac Corp.(a)		3,474

See accompanying notes to financial statements.

73  |

Portfolio of Investments – as of July 31, 2019 (Unaudited)

Natixis Sustainable Future 2060 Fund – (continued)

Shares		Description	Value (†)
		Software — continued
	16	LogMeIn, Inc.	$	1,216
	113	Microsoft Corp.		15,399
	435	Oracle Corp.		24,490
	25	PTC, Inc.(a)		1,695
	18	Qualys, Inc.(a)		1,558
	2	salesforce.com, inc.(a)		309
	31	Symantec Corp.		668
				73,893
		Specialty Retail — 0.8%
	25	Aaron’s, Inc.		1,576
	64	American Eagle Outfitters, Inc.		1,132
	23	Asbury Automotive Group, Inc.(a)		2,118
	17	Best Buy Co., Inc.		1,301
	13	Five Below, Inc.(a)		1,527
	29	Home Depot, Inc. (The)		6,197
	18	Lithia Motors, Inc., Class A		2,374
	17	Lowe’s Cos., Inc.		1,724
	18	Monro, Inc.		1,516
	11	Tiffany & Co.		1,033
	23	Williams-Sonoma, Inc.		1,533
				22,031
		Technology Hardware, Storage & Peripherals — 1.9%
	202	Apple, Inc.		43,034
	191	Hewlett Packard Enterprise Co.		2,745
	142	HP, Inc.		2,988
	60	NCR Corp.(a)		2,029
	10	NetApp, Inc.		585
	16	Seagate Technology PLC		741
	5	Western Digital Corp.		269
	44	Xerox Corp.		1,412
				53,803
		Textiles, Apparel & Luxury Goods — 0.7%
	15	Deckers Outdoor Corp.(a)		2,344
	15	Hanesbrands, Inc.		241
	15	NIKE, Inc., Class B		1,291
	4	PVH Corp.		356
	617	Under Armour, Inc., Class A(a)		14,234
	55	Wolverine World Wide, Inc.		1,493
				19,959
		Thrifts & Mortgage Finance — 0.1%
	209	New York Community Bancorp, Inc.		2,410
		Trading Companies & Distributors — 0.2%
	50	Fastenal Co.		1,540
	20	GATX Corp.		1,538
	13	United Rentals, Inc.(a)		1,645
	6	W.W. Grainger, Inc.		1,746
				6,469
		Water Utilities — 0.3%
	44	American Water Works Co., Inc.		5,050
	59	Aqua America, Inc.		2,475
				7,525
		Total Common Stocks (Identified Cost $1,647,214)		1,692,338
Principal Amount		Description	Value (†)
	Bonds and Notes — 3.7%
		Agency Commercial Mortgage-Backed Securities — 0.0%
$	1,000	FHLMC Multifamily Structured Pass Through Certificates, Series K012, Class A2, 4.185%, 12/25/2020(b)	$	1,022
		Automotive — 0.0%
	1,000	Toyota Motor Credit Corp., MTN, 2.600%, 1/11/2022		1,009
		Banking — 0.8%
	2,000	American Express Co., 3.700%, 8/03/2023		2,089
	2,000	Bank of America Corp., (fixed rate to 1/20/2022, variable rate thereafter), MTN, 3.124%, 1/20/2023		2,029
	3,000	Bank of Montreal, MTN, 1.900%, 8/27/2021		2,981
	1,000	Bank of New York Mellon Corp. (The), Series 10YR, MTN, 3.650%, 2/04/2024		1,054
	1,000	BNP Paribas S.A., MTN, 3.250%, 3/03/2023		1,032
	1,000	Citigroup, Inc., 4.600%, 3/09/2026		1,080
	1,000	Deutsche Bank AG, GMTN, 3.375%, 5/12/2021		996
	2,000	Goldman Sachs Group, Inc. (The), 3.750%, 5/22/2025		2,089
	2,000	HSBC Holdings PLC, 5.100%, 4/05/2021		2,087
	2,000	JPMorgan Chase & Co., (fixed rate to 3/01/2024, variable rate thereafter), 3.220%, 3/01/2025		2,053
	1,000	Morgan Stanley, Series F, 3.875%, 4/29/2024		1,056
	1,000	Royal Bank of Canada, GMTN, 2.150%, 3/06/2020		999
	1,000	Santander UK PLC, 2.375%, 3/16/2020		999
	1,000	SunTrust Bank, 2.250%, 1/31/2020		999
	1,000	Wells Fargo & Co., MTN, 3.000%, 2/19/2025		1,018
				22,561
		Construction Machinery — 0.0%
	1,000	John Deere Capital Corp., MTN, 2.650%, 1/06/2022		1,010
		Consumer Cyclical Services — 0.1%
	2,000	eBay, Inc., 3.800%, 3/09/2022		2,064
		Electric — 0.1%
	2,000	Virginia Electric & Power Co., Series A, 3.150%, 1/15/2026		2,072
		Government Owned – No Guarantee — 0.1%
	2,000	Federal National Mortgage Association, 6.625%, 11/15/2030		2,849
		Health Insurance — 0.1%
	1,000	Anthem, Inc., 4.101%, 3/01/2028		1,064
	1,000	UnitedHealth Group, Inc., 5.800%, 3/15/2036		1,299
				2,363
		Healthcare — 0.2%
	1,000	CVS Health Corp., 3.875%, 7/20/2025		1,044
	2,000	Express Scripts Holding Co., 4.500%, 2/25/2026		2,163
	2,000	McKesson Corp., 3.950%, 2/16/2028		2,076
				5,283
		Integrated Energy — 0.1%
	1,000	BP Capital Markets PLC, 3.814%, 2/10/2024		1,057
	1,000	Chevron Corp., 1.961%, 3/03/2020		999
	1,000	Shell International Finance BV, 6.375%, 12/15/2038		1,431
				3,487
		Midstream — 0.1%
	1,000	Enterprise Products Operating LLC, 2.550%, 10/15/2019		1,000
	1,000	Kinder Morgan Energy Partners LP, 4.150%, 2/01/2024		1,054
				2,054
		Mortgage Related — 0.8%
	8,756	FNMA, 3.000%, with various maturities from 2034 to 2049(c)		8,887
	6,957	FNMA, 3.500%, 6/01/2049		7,131

See accompanying notes to financial statements.

|  74

Portfolio of Investments – as of July 31, 2019 (Unaudited)

Natixis Sustainable Future 2060 Fund – (continued)

Principal Amount		Description	Value (†)
		Mortgage Related — continued
$	4,536	FNMA, 4.000%, 2/01/2049	$	4,694
	1,947	FNMA, 4.500%, 5/01/2049		2,042
				22,754
		Railroads — 0.1%
	2,000	CSX Corp., 2.600%, 11/01/2026		1,997
		REITs – Office Property — 0.0%
	1,000	Boston Properties LP, 2.750%, 10/01/2026		994
		Restaurants — 0.1%
	2,000	Starbucks Corp., 3.800%, 8/15/2025		2,125
		Technology — 0.2%
	1,000	Apple, Inc., 2.500%, 2/09/2025		1,008
	1,000	International Business Machines Corp., 4.000%, 6/20/2042		1,054
	2,000	Oracle Corp., 2.950%, 5/15/2025		2,052
	2,000	QUALCOMM, Inc., 3.450%, 5/20/2025		2,083
				6,197
		Treasuries — 0.7%
	1,000	U.S. Treasury Bond, 2.500%, 5/15/2046		994
	2,000	U.S. Treasury Bond, 2.875%, 11/15/2046		2,139
	3,000	U.S. Treasury Bond, 3.000%, 5/15/2045		3,278
	1,000	U.S. Treasury Bond, 3.000%, 2/15/2048		1,095
	1,000	U.S. Treasury Bond, 3.000%, 2/15/2049		1,097
	1,000	U.S. Treasury Bond, 4.250%, 11/15/2040		1,311
	2,000	U.S. Treasury Bond, 5.250%, 2/15/2029		2,561
	1,000	U.S. Treasury Note, 1.125%, 9/30/2021		984
	1,000	U.S. Treasury Note, 1.750%, 5/15/2023		996
	1,000	U.S. Treasury Note, 2.125%, 12/31/2022		1,009
	1,000	U.S. Treasury Note, 2.250%, 11/15/2027		1,020
	1,000	U.S. Treasury Note, 2.625%, 12/31/2023		1,032
	1,000	U.S. Treasury Note, 2.625%, 2/15/2029		1,052
	1,000	U.S. Treasury Note, 2.875%, 9/30/2023		1,041
				19,609
		Wireless — 0.1%
	1,000	Vodafone Group PLC, 6.150%, 2/27/2037		1,226
		Wirelines — 0.1%
	2,000	AT&T, Inc., 3.400%, 5/15/2025		2,057
		Total Bonds and Notes (Identified Cost $100,572)		102,733
Shares
	Exchange-Traded Funds — 16.4%
	4,877	iShares® ESG MSCI EAFE ETF		307,885
	4,393	iShares® ESG MSCI Emerging Markets ETF		146,419
		Total Exchange-Traded Funds (Identified Cost $441,954)		454,304
	Affiliated Mutual Funds — 18.3%
	4,194	Mirova Global Green Bond Fund, Class N		44,285
	41,185	Mirova International Sustainable Equity Fund, Class N		461,681
		Total Affiliated Mutual Funds (Identified Cost $489,991)		505,966
		Total Investments — 99.4% (Identified Cost $2,679,731)		2,755,341
		Other assets less liabilities — 0.6%		17,631
		Net Assets — 100.0%	$	2,772,972
	(†)	See Note 2 of Notes to Financial Statements.
	(a)	Non-income producing security.
	(b)	Variable rate security. The interest rate adjusts periodically based on; (i) changes in current interest rates and/or prepayments on underlying pools of assets, if applicable, (ii) reference to a base lending rate plus or minus a margin, and/or (iii) reference to a base lending rate adjusted by a multiplier and/or subject to certain floors or caps. Rate as of July 31, 2019 is disclosed.
	(c)	The Fund’s investment in mortgage related securities of Federal National Mortgage Association are interests in separate pools of mortgages. All separate investments in securities of each issuer which have the same coupon rate have been aggregated for the purpose of presentation in the Portfolio of Investments.
	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.
	ETF	Exchange-Traded Fund
	FHLMC	Federal Home Loan Mortgage Corp.
	FNMA	Federal National Mortgage Association
	GMTN	Global Medium Term Note
	MTN	Medium Term Note
	REITs	Real Estate Investment Trusts

Asset Allocation Summary at July 31, 2019 (Unaudited)

Equity	94.1	%
Fixed Income	5.3
Total Investments	99.4
Other assets less liabilities	0.6
Net Assets	100.0	%

See accompanying notes to financial statements.

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|  76

Statements of Assets and Liabilities

July 31, 2019 (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	$	2,620,597	$	2,955,627	$	2,766,051	$	2,462,923
Affiliated investments at cost		1,984,370		1,754,582		1,313,742		947,100
Net unrealized appreciation on unaffiliated investments		62,682		71,712		68,908		63,995
Net unrealized appreciation on affiliated investments		35,128		33,933		23,980		18,093
Investments at value		4,702,777		4,815,854		4,172,681		3,492,111
Cash		86,535		90,564		49,327		42,814
Receivable for Fund shares sold		—		117		235		459
Receivable from investment adviser (Note 5)		12,883		12,809		12,804		12,560
Receivable for securities sold		4,203		4,899		4,616		7,434
Dividends and interest receivable		7,669		7,959		6,100		4,347
Dividends receivable from affiliates		1,048		927		594		321
Tax reclaims receivable		369		508		375		361
Prepaid expenses (Note 6)		1		1		1		1
TOTAL ASSETS		4,815,485		4,933,638		4,246,733		3,560,408
LIABILITIES
Payable for securities purchased		2,970		3,110		2,745		2,966
Payable for Fund shares redeemed		—		—		—		—
Deferred Trustees’ fees (Note 5)		9,423		9,424		9,402		9,391
Administrative fees payable (Note 5)		177		182		156		131
Audit and tax services fees payable		17,820		17,820		17,821		17,819
Other accounts payable and accrued expenses		10,684		9,591		9,128		8,032
TOTAL LIABILITIES		41,074		40,127		39,252		38,339
NET ASSETS	$	4,774,411	$	4,893,511	$	4,207,481	$	3,522,069
NET ASSETS CONSIST OF:
Paid-in capital	$	4,472,675	$	4,626,016	$	3,948,892	$	3,261,533
Accumulated earnings		301,736		267,495		258,589		260,536
NET ASSETS	$	4,774,411	$	4,893,511	$	4,207,481	$	3,522,069
COMPUTATION OF NET ASSET VALUE AND OFFERING PRICE:
Class N shares:
Net assets	$	4,774,411	$	4,893,511	$	4,207,481	$	3,522,069
Shares of beneficial interest		446,757		463,710		390,425		320,123
Net asset value, offering and redemption price per share	$	10.69	$	10.55	$	10.78	$	11.00

See accompanying notes to financial statements.

77  |

Statements of Assets and Liabilities (continued)

July 31, 2019 (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
$	3,557,632	$	2,815,473	$	2,899,185	$	2,549,915	$	2,395,034	$	2,189,740
	1,147,423		879,653		792,263		613,836		548,580		489,991
	93,100		70,724		52,374		52,318		57,528		59,635
	30,669		25,686		12,145		17,373		16,273		15,975
	4,828,824		3,791,536		3,755,967		3,233,442		3,017,415		2,755,341
	138,497		27,823		106,320		122,924		61,280		38,387
	—		310		524		114		44,707		195
	12,535		12,822		12,916		12,711		12,834		12,725
	7,085		6,884		6,361		1,492		5,959		1,942
	4,494		2,571		2,370		2,107		1,944		1,910
	291		118		94		—		—		—
	406		500		428		385		378		384
	—		—		1		—		—		—
	4,992,132		3,842,564		3,884,981		3,373,175		3,144,517		2,810,884
	13,222		3,245		6,418		2,498		3,004		2,089
	—		—		—		—		214		—
	9,401		9,393		9,377		9,378		9,378		9,377
	182		141		115		120		109		102
	17,819		17,820		17,820		17,820		17,820		17,819
	8,343		8,961		8,113		9,553		8,999		8,525
	48,967		39,560		41,843		39,369		39,524		37,912
$	4,943,165	$	3,803,004	$	3,843,138	$	3,333,806	$	3,104,993	$	2,772,972
$	4,624,432	$	3,552,000	$	3,613,022	$	3,110,459	$	2,875,686	$	2,536,211
	318,733		251,004		230,116		223,347		229,307		236,761
$	4,943,165	$	3,803,004	$	3,843,138	$	3,333,806	$	3,104,993	$	2,772,972
$	4,943,165	$	3,803,004	$	3,843,138	$	3,333,806	$	3,104,993	$	2,772,972
	445,697		347,214		349,107		303,731		282,038		251,641
$	11.09	$	10.95	$	11.01	$	10.98	$	11.01	$	11.02

See accompanying notes to financial statements.

|  78

Statements of Operations

For the Six Months Ended July 31, 2019 (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	$	19,763		$	23,324		$	22,771		$	22,690
Dividends from affiliated investments		20,028			16,561			11,372			7,080
Interest		6,739			6,783			4,973			3,268
Less net foreign taxes withheld		(244	)		(483	)		(254	)		(317	)
		46,286			46,185			38,862			32,721
Expenses
Management fees (Note 5)		19,290			20,000			17,205			14,847
Administrative fees (Note 5)		1,029			1,045			879			741
Trustees’ fees and expenses (Note 5)		10,078			10,079			10,066			10,055
Transfer agent fees and expenses		649			677			680			693
Audit and tax services fees		16,247			16,247			16,246			16,246
Custodian fees and expenses		14,304			12,248			15,617			14,882
Legal fees (Note 6)		81			82			70			58
Registration fees		8,779			8,779			8,779			8,779
Shareholder reporting expenses		6,342			6,341			5,664			5,638
Miscellaneous expenses (Note 6)		11,977			11,977			11,967			11,965
Total expenses		88,776			87,475			87,173			83,904
Less waiver and/or expense reimbursement (Note 5)		(80,732	)		(78,920	)		(79,657	)		(77,001	)
Net expenses		8,044			8,555			7,516			6,903
Net investment income		38,242			37,630			31,346			25,818
NET REALIZED AND UNREALIZED GAIN ON INVESTMENTS
Net realized gain on:
Unaffiliated investments		162,376			126,951			133,899			153,718
Affiliated investments		18,198			22,115			19,815			14,117
Net change in unrealized appreciation (depreciation) on:
Unaffiliated investments		2,710			56,706			35,222			16,864
Affiliated investments		71,856			56,588			37,635			25,028
Net realized and unrealized gain on investments		255,140			262,360			226,571			209,727
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS	$	293,382		$	299,990		$	257,917		$	235,545

See accompanying notes to financial statements.

79  |

Statements of Operations (continued)

For the Six Months Ended July 31, 2019 (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
$	33,258		$	28,323		$	22,911		$	24,684		$	24,000		$	22,788
	6,381			3,821			1,753			1,002			859			819
	2,992			1,360			1,039			1,156			984			955
	(532	)		(314	)		(259	)		(274	)		(273	)		(277	)
	42,099			33,190			25,444			26,568			25,570			24,285
	20,070			16,144			12,537			13,467			12,823			12,103
	983			783			602			643			611			577
	10,073			10,057			10,042			10,046			10,044			10,041
	700			690			687			697			701			688
	16,246			16,246			16,246			16,246			16,246			16,246
	14,260			15,447			14,295			17,597			15,679			14,182
	75			59			46			50			50			44
	8,779			8,779			8,779			8,779			8,779			8,779
	5,474			5,391			5,031			5,044			5,066			5,023
	11,972			11,966			11,956			11,956			11,956			11,953
	88,632			85,562			80,221			84,525			81,955			79,636
	(79,044	)		(77,967	)		(74,388	)		(78,100	)		(75,698	)		(73,728	)
	9,588			7,595			5,833			6,425			6,257			5,908
	32,511			25,595			19,611			20,143			19,313			18,377
	174,131			154,366			155,130			151,681			152,598			154,301
	5,197			702			2,998			1,788			1,143			1,115
	60,571			36,607			(7,493	)		5,277			11,201			(2,060	)
	33,234			25,939			10,122			13,791			13,087			13,110
	273,133			217,614			160,757			172,537			178,029			166,466
$	305,644		$	243,209		$	180,368		$	192,680		$	197,342		$	184,843

See accompanying notes to financial statements.

|  80

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, 2019 (Unaudited)			Year Ended January 31, 2019			Six Months Ended July 31, 2019 (Unaudited)			Year Ended January 31, 2019			Six Months Ended July 31, 2019 (Unaudited)			Year Ended January 31, 2019
FROM OPERATIONS:
Net investment income	$	38,242		$	94,583		$	37,630		$	89,986		$	31,346		$	65,783
Net realized gain on investments		180,574			226,694			149,066			325,913			153,714			252,869
Net change in unrealized appreciation (depreciation) on investments		74,566			(379,868	)		113,294			(492,458	)		72,857			(407,524	)
Net increase (decrease) in net assets resulting from operations		293,382			(58,591	)		299,990			(76,559	)		257,917			(88,872	)
FROM DISTRIBUTIONS TO SHAREHOLDERS:
Class N		(32,279	)		(355,507	)		(32,370	)		(465,438	)		(45,895	)		(329,260	)
NET INCREASE (DECREASE) IN NET ASSETS FROM CAPITAL SHARE TRANSACTIONS (NOTE 8)		(86,983	)		478,631			86,073			464,635			238,924			656,250
Net increase (decrease) in net assets		174,120			64,533			353,693			(77,362	)		450,946			238,118
NET ASSETS
Beginning of the period		4,600,291			4,535,758			4,539,818			4,617,180			3,756,535			3,518,417
End of the period	$	4,774,411		$	4,600,291		$	4,893,511		$	4,539,818		$	4,207,481		$	3,756,535

See accompanying notes to financial statements.

81  |

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, 2019 (Unaudited)			Year Ended January 31, 2019			Six Months Ended July 31, 2019 (Unaudited)			Year Ended January 31, 2019			Six Months Ended July 31, 2019 (Unaudited)			Year Ended January 31, 2019
FROM OPERATIONS:
Net investment income	$	25,818		$	52,385		$	32,511		$	50,842		$	25,595		$	44,429
Net realized gain on investments		167,835			245,831			179,328			294,933			155,068			312,062
Net change in unrealized appreciation (depreciation) on investments		41,892			(391,771	)		93,805			(459,860	)		62,546			(496,960	)
Net increase (decrease) in net assets resulting from operations		235,545			(93,555	)		305,644			(114,085	)		243,209			(140,469	)
FROM DISTRIBUTIONS TO SHAREHOLDERS:
Class N		(39,780	)		(294,955	)		(52,653	)		(329,317	)		(69,670	)		(336,300	)
NET INCREASE IN NET ASSETS FROM CAPITAL SHARE TRANSACTIONS (NOTE 8)		132,673			548,767			590,961			1,430,894			299,269			711,448
Net increase in net assets		328,438			160,257			843,952			987,492			472,808			234,679
NET ASSETS
Beginning of the period		3,193,631			3,033,374			4,099,213			3,111,721			3,330,196			3,095,517
End of the period	$	3,522,069		$	3,193,631		$	4,943,165		$	4,099,213		$	3,803,004		$	3,330,196

See accompanying notes to financial statements.

|  82

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, 2019 (Unaudited)			Year Ended January 31, 2019			Six Months Ended July 31, 2019 (Unaudited)			Year Ended January 31, 2019			Six Months Ended July 31, 2019 (Unaudited)			Year Ended January 31, 2019
FROM OPERATIONS:
Net investment income	$	19,611		$	32,585		$	20,143		$	31,990		$	19,313		$	31,669
Net realized gain on investments		158,128			246,157			153,469			254,775			153,741			260,528
Net change in unrealized appreciation (depreciation) on investments		2,629			(392,216	)		19,068			(412,633	)		24,288			(415,462	)
Net increase (decrease) in net assets resulting from operations		180,368			(113,474	)		192,680			(125,868	)		197,342			(123,265	)
FROM DISTRIBUTIONS TO SHAREHOLDERS:
Class N		(34,269	)		(271,505	)		(51,599	)		(272,323	)		(50,564	)		(274,462	)
NET INCREASE IN NET ASSETS FROM CAPITAL SHARE TRANSACTIONS (NOTE 8)		1,180,007			333,717			700,593			376,638			343,902			478,224
Net increase (decrease) in net assets		1,326,106			(51,262	)		841,674			(21,553	)		490,680			80,497
NET ASSETS
Beginning of the period		2,517,032			2,568,294			2,492,132			2,513,685			2,614,313			2,533,816
End of the period	$	3,843,138		$	2,517,032		$	3,333,806		$	2,492,132		$	3,104,993		$	2,614,313

See accompanying notes to financial statements.

83  |

Statements of Changes in Net Assets (continued)

	Natixis Sustainable Future 2060 Fund
	Six Months Ended July 31, 2019 (Unaudited)			Year Ended January 31, 2019
FROM OPERATIONS:
Net investment income	$	18,377		$	32,033
Net realized gain on investments		155,416			252,606
Net change in unrealized appreciation (depreciation) on investments		11,050			(403,205	)
Net increase (decrease) in net assets resulting from operations		184,843			(118,566	)
FROM DISTRIBUTIONS TO SHAREHOLDERS:
Class N		(34,032	)		(278,299	)
NET INCREASE IN NET ASSETS FROM CAPITAL SHARE TRANSACTIONS (NOTE 8)		133,854			309,763
Net increase (decrease) in net assets		284,665			(87,102	)
NET ASSETS
Beginning of the period		2,488,307			2,575,409
End of the period	$	2,772,972		$	2,488,307

See accompanying notes to financial statements.

|  84

Financial Highlights

For a share outstanding throughout each period.

	Sustainable Future 2015 Fund—Class N
	Six Months Ended July 31, 2019 (Unaudited)			Year Ended January 31, 2019			Period Ended January 31, 2018*
Net asset value, beginning of the period	$	10.11		$	11.13		$	10.00
INCOME (LOSS) FROM INVESTMENT OPERATIONS:
Net investment income(a)		0.09			0.23			0.15
Net realized and unrealized gain (loss)		0.56			(0.41	)		1.19
Total from Investment Operations		0.65			(0.18	)		1.34
LESS DISTRIBUTIONS FROM:
Net investment income		—			(0.23	)		(0.16	)
Net realized capital gains		(0.07	)		(0.61	)		(0.05	)
Total Distributions		(0.07	)		(0.84	)		(0.21	)
Net asset value, end of the period	$	10.69		$	10.11		$	11.13
Total return(b)		6.47	%(c)		(1.28	)%		13.42	%(c)
RATIOS TO AVERAGE NET ASSETS:
Net assets, end of the period (000’s)	$	4,774		$	4,600		$	4,536
Net expenses(d)		0.35	%(e)(f)(g)		0.35	%(h)		0.38	%(e)(i)
Gross expenses		3.82	%(e)(f)		4.04	%(h)		3.57	%(e)(i)
Net investment income		1.64	%(e)		2.10	%		1.49	%(e)
Portfolio turnover rate		61	%		41	%		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) 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.

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

(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 0.62% and 4.09%, respectively.

(g) Effective June 1, 2019, the expense limit decreased from 0.65% to 0.55%. See Note 5 of Notes to Financial Statements.

(h) 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 4.34%, respectively.

(i) 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.

85  |

Financial Highlights (continued)

For a share outstanding throughout each period.

	Sustainable Future 2020 Fund—Class N
	Six Months Ended July 31, 2019 (Unaudited)			Year Ended January 31, 2019			Period Ended January 31, 2018*
Net asset value, beginning of the period	$	9.97		$	11.34		$	10.00
INCOME (LOSS) FROM INVESTMENT OPERATIONS:
Net investment income(a)		0.08			0.22			0.14
Net realized and unrealized gain (loss)		0.57			(0.46	)		1.39
Total from Investment Operations		0.65			(0.24	)		1.53
LESS DISTRIBUTIONS FROM:
Net investment income		—			(0.23	)		(0.15	)
Net realized capital gains		(0.07	)		(0.90	)		(0.04	)
Total Distributions		(0.07	)		(1.13	)		(0.19	)
Net asset value, end of the period	$	10.55		$	9.97		$	11.34
Total return(b)		6.54	%(c)		(1.66	)%		15.38	%(c)
RATIOS TO AVERAGE NET ASSETS:
Net assets, end of the period (000’s)	$	4,894		$	4,540		$	4,617
Net expenses(d)		0.36	%(e)(f)(g)		0.38	%(h)		0.41	%(e)(i)
Gross expenses		3.70	%(e)(f)		4.10	%(h)		3.58	%(e)(i)
Net investment income		1.59	%(e)		1.98	%		1.40	%(e)
Portfolio turnover rate		62	%		65	%		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) 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.

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

(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 0.62% and 3.96%, respectively.

(g) Effective June 1, 2019, the expense limit decreased from 0.65% to 0.55%. See Note 5 of Notes to Financial Statements.

(h) 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 4.37%, respectively.

(i) 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.

|  86

Financial Highlights (continued)

For a share outstanding throughout each period.

	Sustainable Future 2025 Fund—Class N
	Six Months Ended July 31, 2019 (Unaudited)			Year Ended January 31, 2019			Period Ended January 31, 2018*
Net asset value, beginning of the period	$	10.22		$	11.54		$	10.00
INCOME (LOSS) FROM INVESTMENT OPERATIONS:
Net investment income(a)		0.08			0.21			0.13
Net realized and unrealized gain (loss)		0.60			(0.54	)		1.59
Total from Investment Operations		0.68			(0.33	)		1.72
LESS DISTRIBUTIONS FROM:
Net investment income		—			(0.20	)		(0.14	)
Net realized capital gains		(0.12	)		(0.79	)		(0.04	)
Total Distributions		(0.12	)		(0.99	)		(0.18	)
Net asset value, end of the period	$	10.78		$	10.22		$	11.54
Total return(b)		6.70	%(c)		(2.46	)%		17.31	%(c)
RATIOS TO AVERAGE NET ASSETS:
Net assets, end of the period (000’s)	$	4,207		$	3,757		$	3,518
Net expenses(d)		0.38	%(e)(f)(g)		0.42	%(h)		0.45	%(e)(i)
Gross expenses		4.38	%(e)(f)		4.88	%(h)		4.41	%(e)(i)
Net investment income		1.58	%(e)		1.88	%		1.30	%(e)
Portfolio turnover rate		59	%		59	%		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) 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.

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

(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 0.62% and 4.62%, respectively.

(g) Effective June 1, 2019, the expense limit decreased from 0.65% to 0.56%. See Note 5 of Notes to Financial Statements.

(h) 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 5.11%, respectively.

(i) 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.

87  |

Financial Highlights (continued)

For a share outstanding throughout each period.

	Sustainable Future 2030 Fund—Class N
	Six Months Ended July 31, 2019 (Unaudited)			Year Ended January 31, 2019			Period Ended January 31, 2018*
Net asset value, beginning of the period	$	10.39		$	11.79		$	10.00
INCOME (LOSS) FROM INVESTMENT OPERATIONS:
Net investment income(a)		0.08			0.19			0.12
Net realized and unrealized gain (loss)		0.66			(0.60	)		1.86
Total from Investment Operations		0.74			(0.41	)		1.98
LESS DISTRIBUTIONS FROM:
Net investment income		—			(0.18	)		(0.14	)
Net realized capital gains		(0.13	)		(0.81	)		(0.05	)
Total Distributions		(0.13	)		(0.99	)		(0.19	)
Net asset value, end of the period	$	11.00		$	10.39		$	11.79
Total return(b)		7.13	%(c)		(2.91	)%		19.79	%(c)
RATIOS TO AVERAGE NET ASSETS:
Net assets, end of the period (000’s)	$	3,522		$	3,194		$	3,033
Net expenses(d)		0.41	%(e)(f)(g)		0.48	%(h)		0.50	%(e)(i)
Gross expenses		5.00	%(e)(f)		5.34	%(h)		5.04	%(e)(i)
Net investment income		1.54	%(e)		1.68	%		1.22	%(e)
Portfolio turnover rate		66	%		65	%		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) 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.

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

(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 0.62% and 5.21%, respectively.

(g) Effective June 1, 2019, the expense limit decreased from 0.65% to 0.57%. See Note 5 of Notes to Financial Statements.

(h) 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 5.51%, respectively.

(i) 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.

|  88

Financial Highlights (continued)

For a share outstanding throughout each period.

	Sustainable Future 2035 Fund—Class N
	Six Months Ended July 31, 2019 (Unaudited)			Year Ended January 31, 2019			Period Ended January 31, 2018*
Net asset value, beginning of the period	$	10.46		$	12.01		$	10.00
INCOME (LOSS) FROM INVESTMENT OPERATIONS:
Net investment income(a)		0.08			0.17			0.11
Net realized and unrealized gain (loss)		0.68			(0.67	)		2.08
Total from Investment Operations		0.76			(0.50	)		2.19
LESS DISTRIBUTIONS FROM:
Net investment income		—			(0.17	)		(0.13	)
Net realized capital gains		(0.13	)		(0.88	)		(0.05	)
Total Distributions		(0.13	)		(1.05	)		(0.18	)
Net asset value, end of the period	$	11.09		$	10.46		$	12.01
Total return(b)		7.32	%(c)		(3.68	)%		21.95	%(c)
RATIOS TO AVERAGE NET ASSETS:
Net assets, end of the period (000’s)	$	4,943		$	4,099		$	3,112
Net expenses(d)		0.43	%(e)(f)(g)		0.52	%(h)		0.55	%(e)(i)
Gross expenses		3.99	%(e)(f)		5.12	%(h)		5.03	%(e)(i)
Net investment income		1.46	%(e)		1.52	%		1.13	%(e)
Portfolio turnover rate		52	%		74	%		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) 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.

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

(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 0.63% and 4.19%, respectively.

(g) Effective June 1, 2019, the expense limit decreased from 0.65% to 0.58%. See Note 5 of Notes to Financial Statements.

(h) 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 5.25%, respectively.

(i) 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.

89  |

Financial Highlights (continued)

For a share outstanding throughout each period.

	Sustainable Future 2040 Fund—Class N
	Six Months Ended July 31, 2019 (Unaudited)			Year Ended January 31, 2019			Period Ended January 31, 2018*
Net asset value, beginning of the period	$	10.43		$	12.20		$	10.00
INCOME (LOSS) FROM INVESTMENT OPERATIONS:
Net investment income(a)		0.08			0.16			0.11
Net realized and unrealized gain (loss)		0.66			(0.75	)		2.26
Total from Investment Operations		0.74			(0.59	)		2.37
LESS DISTRIBUTIONS FROM:
Net investment income		—			(0.16	)		(0.12	)
Net realized capital gains		(0.22	)		(1.02	)		(0.05	)
Total Distributions		(0.22	)		(1.18	)		(0.17	)
Net asset value, end of the period	$	10.95		$	10.43		$	12.20
Total return(b)		7.18	%(c)		(4.19	)%		23.80	%(c)
RATIOS TO AVERAGE NET ASSETS:
Net assets, end of the period (000’s)	$	3,803		$	3,330		$	3,096
Net expenses(d)		0.43	%(e)(f)(g)		0.56	%(h)		0.59	%(e)(i)
Gross expenses		4.83	%(e)(f)		5.40	%(h)		5.04	%(e)(i)
Net investment income		1.45	%(e)		1.42	%		1.04	%(e)
Portfolio turnover rate		52	%		90	%		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) 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.

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

(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 0.63% and 5.03%, respectively.

(g) Effective June 1, 2019, the expense limit decreased from 0.65% to 0.59%. See Note 5 of Notes to Financial Statements.

(h) 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 5.49%, respectively.

(i) 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.

|  90

Financial Highlights (continued)

For a share outstanding throughout each period.

	Sustainable Future 2045 Fund—Class N
	Six Months Ended July 31, 2019 (Unaudited)			Year Ended January 31, 2019			Period Ended January 31, 2018*
Net asset value, beginning of the period	$	10.38		$	12.31		$	10.00
INCOME (LOSS) FROM INVESTMENT OPERATIONS:
Net investment income(a)		0.08			0.15			0.10
Net realized and unrealized gain (loss)		0.69			(0.81	)		2.39
Total from Investment Operations		0.77			(0.66	)		2.49
LESS DISTRIBUTIONS FROM:
Net investment income		—			(0.16	)		(0.12	)
Net realized capital gains		(0.14	)		(1.11	)		(0.06	)
Total Distributions		(0.14	)		(1.27	)		(0.18	)
Net asset value, end of the period	$	11.01		$	10.38		$	12.31
Total return(b)		7.44	%(c)		(4.53	)%		24.92	%(c)
RATIOS TO AVERAGE NET ASSETS:
Net assets, end of the period (000’s)	$	3,843		$	2,517		$	2,568
Net expenses(d)		0.43	%(e)(f)(g)		0.58	%(h)		0.61	%(e)(i)
Gross expenses		5.89	%(e)(f)		6.46	%(h)		5.97	%(e)(i)
Net investment income		1.44	%(e)		1.32	%		0.97	%(e)
Portfolio turnover rate		52	%		77	%		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) 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.

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

(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 0.63% and 6.09%, respectively.

(g) Effective June 1, 2019, the expense limit decreased from 0.65% to 0.59%. See Note 5 of Notes to Financial Statements.

(h) 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 6.53%, respectively.

(i) 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.

91  |

Financial Highlights (continued)

For a share outstanding throughout each period.

	Sustainable Future 2050 Fund—Class N
	Six Months Ended July 31, 2019 (Unaudited)			Year Ended January 31, 2019			Period Ended January 31, 2018*
Net asset value, beginning of the period	$	10.41		$	12.38		$	10.00
INCOME (LOSS) FROM INVESTMENT OPERATIONS:
Net investment income(a)		0.07			0.15			0.10
Net realized and unrealized gain (loss)		0.69			(0.84	)		2.45
Total from Investment Operations		0.76			(0.69	)		2.55
LESS DISTRIBUTIONS FROM:
Net investment income		—			(0.16	)		(0.11	)
Net realized capital gains		(0.19	)		(1.12	)		(0.06	)
Total Distributions		(0.19	)		(1.28	)		(0.17	)
Net asset value, end of the period	$	10.98		$	10.41		$	12.38
Total return(b)		7.28	%(c)		(4.82	)%		25.64	%(c)
RATIOS TO AVERAGE NET ASSETS:
Net assets, end of the period (000’s)	$	3,334		$	2,492		$	2,514
Net expenses(d)		0.44	%(e)(f)(g)		0.59	%(h)		0.62	%(e)(i)
Gross expenses		5.81	%(e)(f)		6.42	%(h)		6.00	%(e)(i)
Net investment income		1.39	%(e)		1.29	%		0.94	%(e)
Portfolio turnover rate		56	%		83	%		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) 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.

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

(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 0.63% and 6.00%, respectively.

(g) Effective June 1, 2019, the expense limit decreased from 0.65% to 0.60%. See Note 5 of Notes to Financial Statements.

(h) 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 6.48%, respectively.

(i) 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.

|  92

Financial Highlights (continued)

For a share outstanding throughout each period.

	Sustainable Future 2055 Fund—Class N
	Six Months Ended July 31, 2019 (Unaudited)			Year Ended January 31, 2019			Period Ended January 31, 2018*
Net asset value, beginning of the period	$	10.43		$	12.38		$	10.00
INCOME (LOSS) FROM INVESTMENT OPERATIONS:
Net investment income(a)		0.07			0.15			0.10
Net realized and unrealized gain (loss)		0.71			(0.83	)		2.45
Total from Investment Operations		0.78			(0.68	)		2.55
LESS DISTRIBUTIONS FROM:
Net investment income		—			(0.16	)		(0.11	)
Net realized capital gains		(0.20	)		(1.11	)		(0.06	)
Total Distributions		(0.20	)		(1.27	)		(0.17	)
Net asset value, end of the period	$	11.01		$	10.43		$	12.38
Total return(b)		7.50	%(c)		(4.80	)%		25.64	%(c)
RATIOS TO AVERAGE NET ASSETS:
Net assets, end of the period (000’s)	$	3,105		$	2,614		$	2,534
Net expenses(d)		0.45	%(e)(f)(g)		0.59	%(h)		0.62	%(e)(i)
Gross expenses		5.93	%(e)(f)		6.44	%(h)		5.98	%(e)(i)
Net investment income		1.40	%(e)		1.27	%		0.94	%(e)
Portfolio turnover rate		56	%		85	%		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) 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.

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

(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 0.63% and 6.11%, respectively.

(g) Effective June 1, 2019, the expense limit decreased from 0.65% to 0.60%. See Note 5 of Notes to Financial Statements.

(h) 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 6.50%, respectively.

(i) 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.

93  |

Financial Highlights (continued)

For a share outstanding throughout each period.

	Sustainable Future 2060 Fund—Class N
	Six Months Ended July 31, 2019 (Unaudited)			Year Ended January 31, 2019			Period Ended January 31, 2018*
Net asset value, beginning of the period	$	10.40		$	12.38		$	10.00
INCOME (LOSS) FROM INVESTMENT OPERATIONS:
Net investment income(a)		0.08			0.15			0.10
Net realized and unrealized gain (loss)		0.68			(0.82	)		2.45
Total from Investment Operations		0.76			(0.67	)		2.55
LESS DISTRIBUTIONS FROM:
Net investment income		—			(0.16	)		(0.11	)
Net realized capital gains		(0.14	)		(1.15	)		(0.06	)
Total Distributions		(0.14	)		(1.31	)		(0.17	)
Net asset value, end of the period	$	11.02		$	10.40		$	12.38
Total return(b)		7.34	%(c)		(4.56	)%		25.59	%(c)
RATIOS TO AVERAGE NET ASSETS:
Net assets, end of the period (000’s)	$	2,773		$	2,488		$	2,575
Net expenses(d)		0.45	%(e)(f)(g)		0.59	%(h)		0.62	%(e)(i)
Gross expenses		6.10	%(e)(f)		6.45	%(h)		5.97	%(e)(i)
Net investment income		1.41	%(e)		1.29	%		0.94	%(e)
Portfolio turnover rate		54	%		80	%		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) 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.

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

(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 0.63% and 6.28%, respectively.

(g) Effective June 1, 2019, the expense limit decreased from 0.65% to 0.60%. See Note 5 of Notes to Financial Statements.

(h) 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 6.51%, respectively.

(i) 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.

|  94

Notes to Financial Statements

July 31, 2019 (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 anopen-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 afront-end sales charge, a contingent deferred sales charge (“CDSC”) or Rule12b-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 orsub-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 orsub-adviser pursuant to procedures approved by the Board of Trustees, as described below. Market value is determined as follows:

Listed equity securities (including shares ofclosed-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. 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

95  |

Notes to Financial Statements (continued)

July 31, 2019 (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 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 the trade date. Dividend income (including income reinvested) and foreign withholding tax, if applicable, is recorded on theex-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, if any, 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 Funds’ 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 years as of July 31, 2019 and has concluded that no provisions for income tax are required. The Funds’ federal tax returns for the prior 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 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

|  96

Notes to Financial Statements (continued)

July 31, 2019 (Unaudited)

Statements of Operations. Accrued but unpaid capital gains taxes are reflected as foreign taxes payable on the Statements of Assets and Liabilities, if applicable, and reduce unrealized gains on investments. In the event that realized gains on investments are subsequently offset by realized losses, taxes paid on realized gains may be returned to a Fund. Such amounts, if applicable, are reflected as foreign tax rebates receivable on the Statements of Assets and Liabilities and are recorded as a realized gain when received.

e.  Dividends and Distributions to Shareholders.  Dividends and distributions are recorded on theex-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 distributionre-designations. 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 year ended January 31, 2019 was as follows:

	2019 Distributions Paid From:
Fund	Ordinary Income		Long-Term Capital Gains		Total
Sustainable Future 2015 Fund	$	160,754	$	194,753	$	355,507
Sustainable Future 2020 Fund		166,032		299,406		465,438
Sustainable Future 2025 Fund		116,622		212,638		329,260
Sustainable Future 2030 Fund		87,034		207,921		294,955
Sustainable Future 2035 Fund		84,598		244,719		329,317
Sustainable Future 2040 Fund		81,843		254,457		336,300
Sustainable Future 2045 Fund		60,325		211,180		271,505
Sustainable Future 2050 Fund		60,040		212,283		272,323
Sustainable Future 2055 Fund		59,287		215,175		274,462
Sustainable Future 2060 Fund		59,596		218,703		278,299

Distributions paid to shareholders from net investment income and net realized capital gains, based on accounting principles generally accepted in the United States of America, are consolidated and reported on the Statements of Changes in Net Assets as Distributions to Shareholders. Distributions paid to shareholders from net investment income and net realized capital gains expressed inper-share amounts, based on accounting principles generally accepted in the United States of America, are separately stated and reported within the Financial Highlights.

As of January 31, 2019, late-year ordinary and post-October capital loss deferrals were as follows:

	Sustainable Future 2015 Fund			Sustainable Future 2020 Fund			Sustainable Future 2025 Fund			Sustainable Future 2030 Fund			Sustainable Future 2035 Fund
Late-year ordinary and post-October capital loss deferrals*	$	(3,263	)	$	(5,661	)	$	(4,808	)	$	(2,921	)	$	(3,515	)

	Sustainable Future 2040 Fund			Sustainable Future 2045 Fund			Sustainable Future 2050 Fund			Sustainable Future 2055 Fund			Sustainable Future 2060 Fund
Late-year ordinary and post-October capital loss deferrals*	$	(3,191	)	$	(2,397	)	$	(6,561	)	$	(4,105	)	$	(3,332	)

* Under current tax law, capital losses, foreign currency losses, and losses on passive foreign investment companies and contingent payment debt instruments after October 31 or December 31, as applicable, may be deferred and treated as occurring on the first day of the following taxable year. The Funds are deferring capital losses.

97  |

Notes to Financial Statements (continued)

July 31, 2019 (Unaudited)

As of July 31, 2019, the tax 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	$	4,605,533		$	4,710,782		$	4,080,200		$	3,410,299		$	4,705,277
Gross tax appreciation	$	159,950		$	180,484		$	161,255		$	146,084		$	223,499
Gross tax depreciation		(62,706	)		(75,412	)		(68,774	)		(64,272	)		(99,952	)
Net tax appreciation	$	97,244		$	105,072		$	92,481		$	81,812		$	123,547

	Sustainable Future 2040 Fund			Sustainable Future 2045 Fund			Sustainable Future 2050 Fund			Sustainable Future 2055 Fund			Sustainable Future 2060 Fund
Federal tax cost	$	3,695,240		$	3,691,526		$	3,163,826		$	2,943,689		$	2,679,806
Gross tax appreciation	$	179,124		$	134,264		$	141,951		$	142,194		$	140,957
Gross tax depreciation		(82,828	)		(69,823	)		(72,335	)		(68,468	)		(65,422	)
Net tax appreciation	$	96,296		$	64,441		$	69,616		$	73,726		$	75,535

Amounts exclude certain adjustments that will be made at the end of the Funds’ fiscal year for tax purposes. Such adjustments are primarily due to wash sales.

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, 2019, at value:

Sustainable Future 2015 Fund

Asset Valuation Inputs

Description	Level 1		Level 2		Level 3		Total
Common Stocks(a)	$	1,495,145	$	—	$	—	$	1,495,145
Bonds and Notes(a)		—		889,394		—		889,394
Exchange-Traded Funds		298,740		—		—		298,740
Affiliated Mutual Funds		2,019,498		—		—		2,019,498
Total	$	3,813,383	$	889,394	$	—	$	4,702,777

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

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Notes to Financial Statements (continued)

July 31, 2019 (Unaudited)

For the six months ended July 31, 2019, 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)	$	1,732,760	$	—	$	—	$	1,732,760
Bonds and Notes(a)		—		894,706		—		894,706
Exchange-Traded Funds		399,873		—		—		399,873
Affiliated Mutual Funds		1,788,515		—		—		1,788,515
Total	$	3,921,148	$	894,706	$	—	$	4,815,854

(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, 2019, there were no transfers among Levels 1, 2 and 3.

Sustainable Future 2025 Fund

Asset Valuation Inputs

Description	Level 1		Level 2		Level 3		Total
Common Stocks(a)	$	1,741,736	$	—	$	—	$	1,741,736
Bonds and Notes(a)		—		657,502		—		657,502
Exchange-Traded Funds		435,721		—		—		435,721
Affiliated Mutual Funds		1,337,722		—		—		1,337,722
Total	$	3,515,179	$	657,502	$	—	$	4,172,681

(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, 2019, there were no transfers among Levels 1, 2 and 3.

Sustainable Future 2030 Fund

Asset Valuation Inputs

Description	Level 1		Level 2		Level 3		Total
Common Stocks(a)	$	1,692,460	$	—	$	—	$	1,692,460
Bonds and Notes(a)		—		426,526		—		426,526
Exchange-Traded Funds		407,932		—		—		407,932
Affiliated Mutual Funds		965,193		—		—		965,193
Total	$	3,065,585	$	426,526	$	—	$	3,492,111

(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, 2019, 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)	$	2,661,147	$	—	$	—	$	2,661,147
Bonds and Notes(a)		—		378,711		—		378,711
Exchange-Traded Funds		610,874		—		—		610,874
Affiliated Mutual Funds		1,178,092		—		—		1,178,092
Total	$	4,450,113	$	378,711	$	—	$	4,828,824

(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, 2019, there were no transfers among Levels 1, 2 and 3.

99  |

Notes to Financial Statements (continued)

July 31, 2019 (Unaudited)

Sustainable Future 2040 Fund

Asset Valuation Inputs

Description	Level 1		Level 2		Level 3		Total
Common Stocks(a)	$	2,163,671	$	—	$	—	$	2,163,671
Bonds and Notes(a)		—		161,481		—		161,481
Exchange-Traded Funds		561,045		—		—		561,045
Affiliated Mutual Funds		905,339		—		—		905,339
Total	$	3,630,055	$	161,481	$	—	$	3,791,536

(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, 2019, 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)	$	2,219,107	$	—	$	—	$	2,219,107
Bonds and Notes(a)		—		148,262		—		148,262
Exchange-Traded Funds		584,190		—		—		584,190
Affiliated Mutual Funds		804,408		—		—		804,408
Total	$	3,607,705	$	148,262	$	—	$	3,755,967

(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, 2019, there were no transfers among Levels 1, 2 and 3.

Sustainable Future 2050 Fund

Asset Valuation Inputs

Description	Level 1			Level 2		Level 3		Total
Common Stocks(a)	$	1,953,346		$	—	$	—	$	1,953,346
Bonds and Notes(a)		—			119,775		—		119,775
Exchange-Traded Funds		529,112			—		—		529,112
Affiliated Mutual Funds		631,209			—		—		631,209
			��
Total	$	3,113,667		$	119,775	$	—	$	3,233,442

(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, 2019, there were no transfers among Levels 1, 2 and 3.

Sustainable Future 2055 Fund

Asset Valuation Inputs

Description	Level 1		Level 2		Level 3		Total
Common Stocks(a)	$	1,821,114	$	—	$	—	$	1,821,114
Bonds and Notes(a)		—		109,035		—		109,035
Exchange-Traded Funds		522,413		—		—		522,413
Affiliated Mutual Funds		564,853		—		—		564,853
Total	$	2,908,380	$	109,035	$	—	$	3,017,415

(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, 2019, there were no transfers among Levels 1, 2 and 3.

|  100

Notes to Financial Statements (continued)

July 31, 2019 (Unaudited)

Sustainable Future 2060 Fund

Asset Valuation Inputs

Description	Level 1		Level 2		Level 3		Total
Common Stocks(a)	$	1,692,338	$	—	$	—	$	1,692,338
Bonds and Notes(a)		—		102,733		—		102,733
Exchange-Traded Funds		454,304		—		—		454,304
Affiliated Mutual Funds		505,966		—		—		505,966
Total	$	2,652,608	$	102,733	$	—	$	2,755,341

(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, 2019, there were no transfers among Levels 1, 2 and 3.

4.  Purchases and Sales of Securities.  For the six months ended July 31, 2019, purchases and sales of securities (excluding short-term investments and U.S. Government/Agency securities and including paydowns) were as follows:

	U.S. Government/Agency Securities				Other Securities
Fund	Purchases		Sales		Purchases		Sales
Sustainable Future 2015 Fund	$	598,098	$	199,725	$	2,226,864	$	2,699,256
Sustainable Future 2020 Fund		588,865		185,370		2,396,423		2,697,297
Sustainable Future 2025 Fund		446,900		144,021		2,307,027		2,176,474
Sustainable Future 2030 Fund		291,986		104,467		1,938,270		2,094,867
Sustainable Future 2035 Fund		262,537		90,651		2,603,903		2,178,133
Sustainable Future 2040 Fund		104,571		36,441		2,252,801		1,770,849
Sustainable Future 2045 Fund		85,504		22,707		2,510,682		1,402,650
Sustainable Future 2050 Fund		81,171		27,051		2,340,296		1,529,664
Sustainable Future 2055 Fund		75,835		29,015		1,947,541		1,465,992
Sustainable Future 2060 Fund		70,768		27,036		1,517,021		1,363,657

5.  Management Fees and Other Transactions with Affiliates.

a.  Management Fees.  Natixis Advisors, L.P. (“Natixis Advisors”) serves as investment adviser to each Fund. 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. Natixis Advisors, through its Active Index Advisors^® division, makes investment decisions with respect to the AIA U.S. Large Cap Value ESG Segment, AIA U.S. Small/Mid Cap ESG Segment, AIA International Developed Markets Equity ESG Segment and AIA Emerging Markets ESG Segment of each Fund. Additionally, Natixis Advisors oversees, evaluates and monitors the subadvisory services provided to each Fund. 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 Harris Associates L.P. (“Harris”) with respect to the Harris Associates Large Cap Value Segment of each Fund. Harris is a subsidiary of Natixis.

Natixis Advisors has entered into a subadvisory agreement with Loomis, Sayles & Company, L.P. (“Loomis Sayles”) with respect to the Loomis Sayles All Cap Growth Segment and Loomis Sayles Core Fixed Income Segment of each Fund. Loomis Sayles is a limited partnership whose sole general partner, Loomis, Sayles & Company, Inc., is indirectly owned by Natixis.

Natixis Advisors has entered into a subadvisory agreement with Mirova US LLC (“Mirova US”) (formerly a division within Ostrum Asset Management U.S., LLC (“Ostrum US”)) with respect to the Mirova Global Sustainable Equity Segment and Mirova Carbon Neutral U.S. Equity Segment of each Fund. Mirova US has entered into a personnel sharing arrangement with its Paris-based affiliate, Mirova, which is part of Natixis Investment Managers. Prior to March 29, 2019, Ostrum US served as thesub-adviser for the Mirova Global Sustainable Equity Segment and Mirova Carbon Neutral U.S. Equity Segment of each Fund, and was paid a management fee at the same annual rates.

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.

101  |

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July 31, 2019 (Unaudited)

Effective April 30, 2019, the aggregate management fee to be paid by each Fund is equal to the sum of: (i) 0.165% of the average daily net assets of the AIA U.S. Large Cap Value ESG Segment, (ii) 0.20% of the average daily net assets of the AIA U.S. Small/Mid Cap ESG Segment; (iii) 0.20% of the average daily net assets of the AIA International Developed Markets Equity ESG Segment; (iv) 0.25% of the average daily net assets of the AIA Emerging Markets ESG Segment, each payable to Natixis Advisors as adviser; (v) 0.52% of the average daily net assets of the Harris Associates Large Cap Value Segment, payable by the Fund directly to Harris assub-adviser; (vi) 0.35% of the average daily net assets of the Loomis Sayles All Cap Growth Segment; (vii) 0.20% of the average daily net assets of the Loomis Sayles Core Fixed Income Segment, payable by the Fund directly to Loomis Sayles assub-adviser; (viii) 0.50% of the average daily net assets of the Mirova Global Sustainable Equity Segment; (viiii) 0.25% of the average daily net assets of the Mirova Carbon Neutral U.S. Equity Segment, each payable by the Fund directly to Mirova US assub-adviser; and (x) 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 $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 by the Fund directly to Wilshire assub-adviser. The aggregate advisory fee payable by each Fund is subject to a maximum equal to the sum of: (i) 0.25% of the average daily net assets of each segment managed directly by Natixis Advisers; (ii) 0.70% of the average daily net assets of any segment managed by anysub-adviser other than Wilshire; and (iii) the greater of the asset based fee, or the Fund’s allocable portion of the minimum annual aggregate fee as outlined above for Wilshire.

Prior to April 30, 2019, the aggregate management fee to be paid by each Fund is equal to the sum of: (i) 0.165% of the average daily net assets of the AIA U.S. Large Cap Value ESG Segment, (ii) 0.20% of the average daily net assets of the AIA U.S. Small/Mid Cap ESG Segment; (iii) 0.20% of the average daily net assets of the AIA International Developed Markets Equity ESG Segment; (iv) 0.25% of the average daily net assets of the AIA Emerging Markets ESG Segment, each payable to Natixis Advisors as adviser; (v) 0.50% of the average daily net assets of the Mirova Global Sustainable Equity Segment; (vi) 0.25% of the average daily net assets of the Mirova Carbon Neutral U.S. Equity Segment, each payable by the Fund directly to Mirova US (Ostrum US prior to March 29, 2019) assub-adviser; and (vii) 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 $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 by the Fund directly to Wilshire assub-adviser. The aggregate advisory fee payable by each Fund is subject to a maximum equal to the sum of: (i) 0.25% of the average daily net assets of each segment managed directly by Natixis Advisors; (ii) 0.70% of the average daily net assets of any segment managed by anysub-adviser other than Wilshire; and (iii) the greater of the asset based fee, or the Fund’s allocable portion of the minimum annual aggregate fee as outlined above for Wilshire.

Natixis Advisors has given binding undertakings to the Funds to waive management fees and/or reimburse certain expenses, including fees paid to thesub-advisers, 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, 2020, may be terminated before then only with the consent of the Funds’ Board of Trustees, and are reevaluated on an annual basis. Management fees payable, as reflected on the Statements of Assets and Liabilities, is net of waivers and/or expense reimbursements, if any, pursuant to these undertakings. Waivers/reimbursements that exceed management fees payable are reflected on the Statements of Assets and Liabilities as receivable from investment adviser.

For the period June 1, 2019 to July 31, 2019, the Funds’ expense limit as a percentage of average daily net assets under the expense limitation agreements, including expenses of the underlying funds in which each Fund invests, were as follows:

Fund	Expense Limit as a Percentage of Average Daily Net Assets
Sustainable Future 2015 Fund		0.55	%
Sustainable Future 2020 Fund		0.55	%
Sustainable Future 2025 Fund		0.56	%
Sustainable Future 2030 Fund		0.57	%
Sustainable Future 2035 Fund		0.58	%
Sustainable Future 2040 Fund		0.59	%
Sustainable Future 2045 Fund		0.59	%
Sustainable Future 2050 Fund		0.60	%
Sustainable Future 2055 Fund		0.60	%
Sustainable Future 2060 Fund		0.60	%

|  102

Notes to Financial Statements (continued)

July 31, 2019 (Unaudited)

Prior to June 1, 2019, each Fund’s 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) in later periods to the extent a Fund’s annual operating expenses fall below its expense limit, provided, however, that a Fund 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, 2019, the management fees and waivers of management fees for each Fund were as follows:

Fund	Gross Management Fees		Contractual Waivers of Management Fees1		Voluntary Waivers of Management Fees2		Net Management Fees		Percentage of Average Daily Net Assets
									Gross			Net
Sustainable Future 2015 Fund	$	19,290	$	577	$	372	$	18,341		0.83	%		0.79	%
Sustainable Future 2020 Fund		20,000		649		481		18,870		0.85	%		0.80	%
Sustainable Future 2025 Fund		17,205		610		503		16,092		0.87	%		0.81	%
Sustainable Future 2030 Fund		14,847		615		465		13,767		0.89	%		0.82	%
Sustainable Future 2035 Fund		20,070		910		680		18,480		0.90	%		0.83	%
Sustainable Future 2040 Fund		16,144		762		629		14,753		0.91	%		0.83	%
Sustainable Future 2045 Fund		12,537		602		502		11,433		0.92	%		0.84	%
Sustainable Future 2050 Fund		13,467		630		596		12,241		0.93	%		0.84	%
Sustainable Future 2055 Fund		12,823		604		566		11,653		0.93	%		0.84	%
Sustainable Future 2060 Fund		12,103		572		534		10,997		0.93	%		0.84	%

¹  Waiver of Natixis Advisors’ management fee is subject to possible recovery until January 31, 2021.

²  Voluntary waiver of Natixis Advisors’ management fee is not subject to recovery under the expense limitation agreements described above.

For the six months ended July 31, 2019, expenses, including fees paid to thesub-advisers, have been reimbursed as follows:

Fund	Reimbursement3
Sustainable Future 2015 Fund	$	79,763
Sustainable Future 2020 Fund		77,770
Sustainable Future 2025 Fund		78,527
Sustainable Future 2030 Fund		75,907
Sustainable Future 2035 Fund		77,435
Sustainable Future 2040 Fund		76,561
Sustainable Future 2045 Fund		73,272
Sustainable Future 2050 Fund		76,862
Sustainable Future 2055 Fund		74,516
Sustainable Future 2060 Fund		72,611

³  Contractual expense reimbursements are subject to possible recovery until January 31, 2021.

No expenses were recovered during the six months ended July 31, 2019 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 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 assub-administrator. Pursuant to an agreement among Natixis Funds Trusts, Loomis Sayles Funds Trusts, Natixis ETF Trust and Natixis Advisors, effective July 1, 2019, each Fund pays Natixis Advisors monthly itspro rata portion of fees equal to an annual rate of 0.0540% 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, 2019, each Fund paid Natixis Advisors monthly itspro 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

103  |

Notes to Financial Statements (continued)

July 31, 2019 (Unaudited)

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.

Effective October 1, 2018, State Street Bank agreed to reduce the fees it receives from Natixis Advisors for serving assub-administrator to the Funds. Also, effective October 1, 2018, Natixis Advisors agreed to voluntarily waive fees paid by the Funds in an amount equal to the reduction insub-administrative fees discussed above. The waiver was in effect through June 30, 2019.

For the six months ended July 31, 2019, the administrative fees for each Fund were as follows:

Fund	Gross Administrative Fees		Waiver of Administrative Fees		Net Administrative Fees
Sustainable Future 2015 Fund	$	1,029	$	20	$	1,009
Sustainable Future 2020 Fund		1,045		20		1,025
Sustainable Future 2025 Fund		879		17		862
Sustainable Future 2030 Fund		741		14		727
Sustainable Future 2035 Fund		983		19		964
Sustainable Future 2040 Fund		783		15		768
Sustainable Future 2045 Fund		602		12		590
Sustainable Future 2050 Fund		643		12		631
Sustainable Future 2055 Fund		611		12		599
Sustainable Future 2060 Fund		577		11		566

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 $360,000. 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 $190,000. 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 $15,000. 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 allocatedpro rataamong 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.

Certain officers and employees of Natixis Advisors and its affiliates are also officers and/or Trustees of the Trust.

e.  Affiliated Ownership.  As of July 31, 2019, the percentage of each Fund’s net assets owned by Natixis and affiliates is as follows:

	Percentage of Net Assets
Natixis Sustainable Future 2015 Fund		99.88	%
Natixis Sustainable Future 2020 Fund		98.81	%
Natixis Sustainable Future 2025 Fund		87.05	%
Natixis Sustainable Future 2030 Fund		88.45	%
Natixis Sustainable Future 2035 Fund		63.75	%
Natixis Sustainable Future 2040 Fund		83.57	%

|  104

Notes to Financial Statements (continued)

July 31, 2019 (Unaudited)

	Percentage of Net Assets
Natixis Sustainable Future 2045 Fund		66.68	%
Natixis Sustainable Future 2050 Fund		76.97	%
Natixis Sustainable Future 2055 Fund		82.82	%
Natixis Sustainable Future 2060 Fund		92.80	%

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, 2019, 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	$	556,731	$	228,507	$	205,781	$	(2,265	)	$	24,894		$	602,086	$	6,680
Loomis Sayles Limited Term Government and Agency Fund, Class N		552,848		177,229		187,732		(2,216	)		8,066			548,195		6,727
Mirova Global Green Bond Fund, Class N		1,299,531		15,959		863,043		9,992			44,949			507,388		6,407
Mirova International Sustainable Equity Fund, Class N		164,481		316,746		126,032		12,687			(6,053	)		361,829		214
	$	2,573,591	$	738,441	$	1,382,588	$	18,198		$	71,856		$	2,019,498	$	20,028

⁽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	$	319,741	$	152,130	$	124,101	$	(1,514	)	$	14,987		$	361,243	$	4,005
Loomis Sayles Limited Term Government and Agency Fund, Class N		498,471		149,217		167,958		(1,929	)		7,180			484,981		6,086
Mirova Global Green Bond Fund, Class N		1,232,393		45,327		835,043		9,806			43,594			496,077		6,229
Mirova International Sustainable Equity Fund, Class N		184,465		411,635		156,465		15,752			(9,173	)		446,214		241
	$	2,235,070	$	758,309	$	1,283,567	$	22,115		$	56,588		$	1,788,515	$	16,561

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

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

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Notes to Financial Statements (continued)

July 31, 2019 (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	$	193,399	$	98,558	$	76,091	$	(936	)	$	9,101		$	224,031	$	2,470
Loomis Sayles Limited Term Government and Agency Fund, Class N		364,977		49,688		106,711		(1,209	)		4,638			311,383		4,194
Mirova Global Green Bond Fund, Class N		850,898		58,892		583,911		6,715			30,724			363,318		4,448
Mirova International Sustainable Equity Fund, Class N		195,771		386,723		151,921		15,245			(6,828	)		438,990		260
	$	1,605,045	$	593,861	$	918,634	$	19,815		$	37,635		$	1,337,722	$	11,372

⁽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	$	166,476	$	40,429	$	44,859	$	(322	)	$	7,020		$	168,744	$	1,840
Loomis Sayles Limited Term Government and Agency Fund, Class N		233,494		22,610		89,653		(1,050	)		3,016			168,417		2,469
Mirova Global Green Bond Fund, Class N		499,317		25,663		339,318		3,875			17,922			207,459		2,521
Mirova International Sustainable Equity Fund, Class N		191,441		340,146		119,698		11,614			(2,930	)		420,573		250
	$	1,090,728	$	428,848	$	593,528	$	14,117		$	25,028		$	965,193	$	7,080

⁽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	$	162,485	$	35,644	$	24,309	$	(233	)	$	7,068	$	180,655	$	1,890
Loomis Sayles Limited Term Government and Agency Fund, Class N		181,543		43,295		71,710		(855	)		2,520		154,793		2,057
Mirova Global Green Bond Fund, Class N		385,816		65,155		261,552		2,718			16,050		208,187		2,080
Mirova International Sustainable Equity Fund, Class N		265,372		393,357		35,435		3,567			7,596		634,457		354
	$	995,216	$	537,451	$	393,006	$	5,197		$	33,234	$	1,178,092	$	6,381

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

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

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Notes to Financial Statements (continued)

July 31, 2019 (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	$	103,918	$	27,633	$	31,765	$	(300	)	$	4,542	$	104,028	$	1,124
Loomis Sayles Limited Term Government and Agency Fund, Class N		120,406		26,433		85,197		(512	)		1,330		62,460		1,148
Mirova Global Green Bond Fund, Class N		207,969		41,755		114,429		1,336			10,321		146,952		1,220
Mirova International Sustainable Equity Fund, Class N		245,541		338,114		1,680		178			9,746		591,899		329
	$	677,834	$	433,935	$	233,071	$	702		$	25,939	$	905,339	$	3,821

⁽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	$	51,647	$	23,341	$	34,725	$	132		$	1,675	$	42,070	$	331
Loomis Sayles Limited Term Government and Agency Fund, Class N		51,290		34,054		22,922		(268	)		764		62,918		609
Mirova Global Green Bond Fund, Class N		103,325		35,893		80,959		784			4,020		63,063		542
Mirova International Sustainable Equity Fund, Class N		202,534		449,930		22,120		2,350			3,663		636,357		271
	$	408,796	$	543,218	$	160,726	$	2,998		$	10,122	$	804,408	$	1,753

⁽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	$	41,977	$	9,503	$	52,543	$	612		$	451	$	—	$	—
Loomis Sayles Limited Term Government and Agency Fund, Class N		27,806		6,954		34,842		(175	)		257		—		191
Mirova Global Green Bond Fund, Class N		83,980		32,405		65,677		752			3,787		55,247		494
Mirova International Sustainable Equity Fund, Class N		226,647		345,374		5,954		599			9,296		575,962		317
	$	380,410	$	394,236	$	159,016	$	1,788		$	13,791	$	631,209	$	1,002

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

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

107  |

Notes to Financial Statements (continued)

July 31, 2019 (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	$	41,100	$	2,312	$	44,375	$	551		$	412	$	—	$	—
Loomis Sayles Limited Term Government and Agency Fund, Class N		27,163		2,215		29,454		(211	)		287		—		128
Mirova Global Green Bond Fund, Class N		81,561		19,452		55,623		597			3,498		49,485		443
Mirova International Sustainable Equity Fund, Class N		217,645		290,970		2,343		206			8,890		515,368		288
	$	367,469	$	314,949	$	131,795	$	1,143		$	13,087	$	564,853	$	859

⁽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	$	38,205	$	3,168	$	42,300	$	462		$	465	$	—	$	—
Loomis Sayles Limited Term Government and Agency Fund, Class N		25,306		2,698		28,079		(226	)		301		—		120
Mirova Global Green Bond Fund, Class N		76,434		16,822		52,879		575			3,333		44,285		424
Mirova International Sustainable Equity Fund, Class N		206,284		249,104		3,022		304			9,011		461,681		275
	$	346,229	$	271,792	$	126,280	$	1,115		$	13,110	$	505,966	$	819

⁽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, Mirova Global Green Bond Fund and Mirova International Sustainable Equity Fund are available, without charge, on the Funds’ website at im.natixis.com.

g.  Acquired Fund Fees and Expenses.  Each Fund will indirectly realize itspro ratashare 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.  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 certain other legal fees in connection with the line of credit agreement, which are being amortized over a period of 364 days and are reflected in legal fees and/or miscellaneous expenses on the Statements of Operations. The unamortized balance is reflected as prepaid expenses on the Statements of Assets and Liabilities.

For the six months ended July 31, 2019, none of the Funds had borrowings under these agreements.

7.  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, 2019, based on management’s evaluation of the shareholder account base, the Funds had accounts representing controlling

|  108

Notes to Financial Statements (continued)

July 31, 2019 (Unaudited)

ownership of more than 5% of the Funds’ 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:

Fund	Number of 5% Non-Affiliated Account Holders		Percentage of Non- Affiliated Ownership			Percentage of Affiliated Ownership (Note 5e)			Total Percentage of Ownership
Natixis Sustainable Future 2025 Fund		1		6.52	%		87.05	%		93.57	%
Natixis Sustainable Future 2030 Fund		1		5.30	%		88.45	%		93.75	%
Natixis Sustainable Future 2035 Fund		2		23.61	%		63.75	%		87.36	%
Natixis Sustainable Future 2040 Fund		1		9.99	%		83.57	%		93.56	%
Natixis Sustainable Future 2050 Fund		1		7.89	%		76.97	%		84.86	%

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 anon-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.

8.  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, 2019						Year Ended January 31, 2019
	Shares			Amount			Shares			Amount
Class N
Issued from the sale of shares		748		$	7,791			11,239		$	123,377
Issued in connection with the reinvestment of distributions		3,089			32,279			36,204			355,507
Redeemed		(12,115	)		(127,053	)		(25	)		(253	)
Net change		(8,278	)	$	(86,983	)		47,418		$	478,631
Increase (decrease) from capital share transactions		(8,278	)	$	(86,983	)		47,418		$	478,631

Sustainable Future 2020 Fund

	Six Months Ended July 31, 2019						Year Ended January 31, 2019
	Shares			Amount			Shares			Amount
Class N
Issued from the sale of shares		5,403		$	54,266			80,140		$	897,561
Issued in connection with the reinvestment of distributions		3,134			32,370			48,240			465,438
Redeemed		(55	)		(563	)		(80,139	)		(898,364	)
Net change		8,482		$	86,073			48,241		$	464,635
Increase from capital share transactions		8,482		$	86,073			48,241		$	464,635

Sustainable Future 2025 Fund

	Six Months Ended July 31, 2019						Year Ended January 31, 2019
	Shares			Amount			Shares			Amount
Class N
Issued from the sale of shares		22,285		$	234,313			33,707		$	375,438
Issued in connection with the reinvestment of distributions		4,342			45,895			33,477			329,260
Redeemed		(3,929	)		(41,284	)		(4,427	)		(48,448	)
Net change		22,698		$	238,924			62,757		$	656,250
Increase from capital share transactions		22,698		$	238,924			62,757		$	656,250

109  |

Notes to Financial Statements (continued)

July 31, 2019 (Unaudited)

8.  Capital Shares (continued).

Sustainable Future 2030 Fund

	Six Months Ended July 31, 2019						Year Ended January 31, 2019
	Shares			Amount			Shares			Amount
Class N
Issued from the sale of shares		35,478		$	373,234			40,422		$	461,607
Issued in connection with the reinvestment of distributions		3,683			39,780			29,897			294,955
Redeemed		(26,433	)		(280,341	)		(20,116	)		(207,795	)
Net change		12,728		$	132,673			50,203		$	548,767
Increase from capital share transactions		12,728		$	132,673			50,203		$	548,767

Sustainable Future 2035 Fund

	Six Months Ended July 31, 2019						Year Ended January 31, 2019
	Shares			Amount			Shares			Amount
Class N
Issued from the sale of shares		52,109		$	571,116			99,654		$	1,105,288
Issued in connection with the reinvestment of distributions		4,826			52,653			33,354			329,317
Redeemed		(2,959	)		(32,808	)		(334	)		(3,711	)
Net change		53,976		$	590,961			132,674		$	1,430,894
Increase from capital share transactions		53,976		$	590,961			132,674		$	1,430,894

Sustainable Future 2040 Fund

	Six Months Ended July 31, 2019						Year Ended January 31, 2019
	Shares			Amount			Shares			Amount
Class N
Issued from the sale of shares		21,460		$	230,972			31,525		$	375,855
Issued in connection with the reinvestment of distributions		6,445			69,670			34,281			336,300
Redeemed		(126	)		(1,373	)		(69	)		(707	)
Net change		27,779		$	299,269			65,737		$	711,448
Increase from capital share transactions		27,779		$	299,269			65,737		$	711,448

Sustainable Future 2045 Fund

	Six Months Ended July 31, 2019						Year Ended January 31, 2019
	Shares			Amount			Shares			Amount
Class N
Issued from the sale of shares		109,103		$	1,206,424			6,198		$	65,694
Issued in connection with the reinvestment of distributions		3,153			34,269			27,912			271,505
Redeemed		(5,562	)		(60,686	)		(312	)		(3,482	)
Net change		106,694		$	1,180,007			33,798		$	333,717
Increase from capital share transactions		106,694		$	1,180,007			33,798		$	333,717

|  110

Notes to Financial Statements (continued)

July 31, 2019 (Unaudited)

8.  Capital Shares (continued).

Sustainable Future 2050 Fund

	Six Months Ended July 31, 2019						Year Ended January 31, 2019
	Shares			Amount			Shares			Amount
Class N
Issued from the sale of shares		60,161		$	655,378			11,905		$	140,674
Issued in connection with the reinvestment of distributions		4,756			51,599			27,841			272,323
Redeemed		(579	)		(6,384	)		(3,328	)		(36,359	)
Net change		64,338		$	700,593			36,418		$	376,638
Increase from capital share transactions		64,338		$	700,593			36,418		$	376,638

Sustainable Future 2055 Fund

	Six Months Ended July 31, 2019						Year Ended January 31, 2019
	Shares			Amount			Shares			Amount
Class N
Issued from the sale of shares		28,063		$	308,213			18,075		$	205,303
Issued in connection with the reinvestment of distributions		4,641			50,497			28,069			274,463
Redeemed		(1,369	)		(14,808	)		(147	)		(1,542	)
Net change		31,335		$	343,902			45,997		$	478,224
Increase from capital share transactions		31,335		$	343,902			45,997		$	478,224

Sustainable Future 2060 Fund

	Six Months Ended July 31, 2019						Year Ended January 31, 2019
	Shares			Amount			Shares			Amount
Class N
Issued from the sale of shares		10,536		$	114,693			2,705		$	31,558
Issued in connection with the reinvestment of distributions		3,125			34,032			28,638			278,298
Redeemed		(1,366	)		(14,871	)		(8	)		(93	)
Net change		12,295		$	133,854			31,335		$	309,763
Increase from capital share transactions		12,295		$	133,854			31,335		$	309,763

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Semiannual Report

July 31, 2019

AEW Global Focused Real Estate Fund

(formerly AEW Real Estate Fund)

Table of Contents

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

IMPORTANT NOTICE TO SHAREHOLDERS

Beginning on January 1, 2021, as permitted by regulations adopted by the Securities and Exchange Commission, paper copies of shareholder reports like this one will no longer be sent by mail, unless you specifically request paper copies of the reports from the Fund or from your financial intermediary, such as a broker-dealer or bank. Instead, the reports will be made available on the Funds’ website, and you will be notified by mail each time a report is posted and provided with a website link to access the report. If you wish to continue receiving paper copies of your shareholder reports after January 1, 2021, you can inform the Fund at any time by calling 1-800-225-5478. If you hold your account with a financial intermediary and you wish to continue receiving paper copies after January 1, 2021, you should call your financial intermediary directly. Paper copies are provided free of charge, and your election to receive reports in paper will apply to all funds held with the Natixis Funds complex. If you have already elected to receive shareholder reports electronically, you will not be affected by this change and you need not take any action. You currently may elect to receive shareholder reports and other communications from the Fund or your financial intermediary electronically atwww.icsdelivery.com/natixisfunds.

AEW GLOBAL FOCUSED REAL ESTATE FUND

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

* Effective at the close of business on May 31, 2019, Messrs. Robert Oosterkamp and Milton Low joined the portfolio management team, and Mr. Matthew Troxell no longer serves as portfolio manager of the Fund.

Investment Goal

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

Average Annual Total Returns — July 31, 2019^4,6

													Life of			Expense Ratios5
	6 Months			1 Year			5 Years			10 Years			Class N			Gross			Net
Class Y (Inception 8/31/00)
NAV		4.64	%		9.07	%		7.29	%		13.69	%		—	%		1.15	%		0.90	%
Class A (Inception 12/29/00)
NAV		4.43			8.73			7.00			13.40			—			1.40			1.15
With 5.75% Maximum Sales Charge		-1.56			2.45			5.74			12.73			—
Class C (Inception 12/29/00)
NAV		4.11			8.01			6.22			12.56			—			2.15			1.90
With CDSC1		3.11			7.01			6.22			12.56			—
Class N (Inception 5/01/13)
NAV		4.57			9.02			7.40			—			6.69			0.95			0.85
Comparative Performance
FTSE EPRA Nareit Developed Real Estate Index (Net)2		4.19			8.13			5.81			10.44			5.19
MSCI US REIT Index3		6.68			11.65			8.06			14.53			7.32

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  |

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

2 Effective at the close of business on May 31, 2019, the FTSE EPRA Nareit Developed Real Estate Index (Net) replaced the MSCI US REIT Index as the Fund’s primary benchmark because the Fund believes the FTSE EPRA Nareit Developed Real Estate Index (Net), an index designed to track the performance of listed real estate companies and REITs worldwide, is a more appropriate comparison to the Fund’s investment strategies.

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

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

5 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 limitations set to expire on 5/31/20. When a Fund’s expenses are below the limitation, 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 limitations.

6 The performance results shown for the periods prior to the close of business on May 31, 2019 reflect results achieved using a different investment strategy.

|  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

Natixis Funds file complete schedules of portfolio holdings with the SEC for the first and third quarters of each fiscal year as an exhibit on Form N-PORT. The Fund’s FormN-PORT is available on the SEC’s website at www.sec.gov.

CFA^® and Chartered Financial Analyst^® are registered trademarks owned by the CFA Institute.

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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, 2019 through July 31, 2019. 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.

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AEW GLOBAL FOCUSED REAL ESTATE FUND	BEGINNING ACCOUNT VALUE 2/1/2019		ENDING ACCOUNT VALUE 7/31/2019		EXPENSES PAID DURING PERIOD* 2/1/2019 – 7/31/2019
Class A
Actual		$1,000.00		$1,044.30		$6.18
Hypothetical (5% return before expenses)		$1,000.00		$1,018.75		$6.11
Class C
Actual		$1,000.00		$1,041.10		$9.97
Hypothetical (5% return before expenses)		$1,000.00		$1,015.03		$9.84
Class N
Actual		$1,000.00		$1,045.70		$4.62
Hypothetical (5% return before expenses)		$1,000.00		$1,020.28		$4.56
Class Y
Actual		$1,000.00		$1,046.40		$4.92
Hypothetical (5% return before expenses)		$1,000.00		$1,019.98		$4.86

* Expenses are equal to the Fund’s annualized expense ratio (after waiver/reimbursement): 1.22%, 1.97%, 0.91% and 0.97% 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 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, (ii) arrangements in respect of the distribution of the Fund’s shares and the related costs, (iii) 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, (iv) the Adviser’s policies and procedures relating to, among other things, compliance, trading and best execution, proxy voting and valuation, (v) information about amounts invested by the Fund’s portfolio managers in the Fund or in similar accounts that they manage and (vi) 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

|  6

the Adviser make periodic presentations to the Contract Review Committee and/or the full Board, and if the Fund is identified as presenting possible performance concerns it may be subject to more frequent Board 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 2019. The Trustees considered that, effective June 1, 2019, the Fund’s name, principal investment strategies, portfolio managers, primary prospectus index, advisory fee rate and expense caps had changed. 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, 2018, 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
25%	50%	42%

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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 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.

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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 considered management’s explanation of the factors that are taken into account with respect to the implementation of breakpoints in investment advisory fees or expense caps. With respect to economies of scale, the Trustees noted that the Fund’s advisory fee was not subject to breakpoints, as the advisory fee had been lowered, effective June 1, 2019, to a rate equal to the lowest rate under the Fund’s previous advisory fee schedule. The Trustees also noted that the Fund 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 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, 2020.

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Portfolio of Investments – as of July 31, 2019 (Unaudited)

AEW Global Focused Real Estate Fund*

Shares		Description	Value (†)
	Common Stocks — 98.6% of Net Assets
		Australia — 5.1%
	290,200	Dexus	$	2,595,536
	112,826	Goodman Group		1,141,069
	1,000,200	Mirvac Group		2,197,739
				5,934,344
		Canada — 3.9%
	122,000	Canadian Apartment Properties REIT		4,502,667
		France — 2.1%
	9,777	Gecina S.A.		1,500,088
	6,840	Unibail-Rodamco-Westfield		916,198
				2,416,286
		Germany — 5.6%
	10,664	ADO Properties S.A.		459,689
	23,000	alstria officeREIT-AG		371,069
	57,144	Deutsche Wohnen SE		2,083,934
	17,230	TLG Immobilien AG		506,405
	62,100	Vonovia SE		3,031,989
				6,453,086
		Hong Kong — 7.3%
	148,900	CK Asset Holdings Ltd.		1,119,599
	195,700	Hysan Development Co. Ltd.		932,320
	287,400	Link REIT		3,342,800
	1,460,300	New World Development Co. Ltd.		2,056,087
	584,800	Sino Land Co. Ltd.		947,012
				8,397,818
		Ireland — 0.4%
	233,040	Irish Residential Properties REIT PLC		441,654
		Japan — 12.4%
	243	Daiwa Office Investment Corp.		1,795,506
	269	Hulic REIT, Inc.		480,396
	10,770	Invesco OfficeJ-REIT, Inc.		1,912,932
	2,554	Japan Hotel REIT Investment Corp.		2,132,640
	145,900	Mitsubishi Estate Co. Ltd.		2,685,573
	116,600	Mitsui Fudosan Co. Ltd.		2,632,150
	387	Nippon Building Fund, Inc.		2,716,346
				14,355,543
		Netherlands — 0.3%
	8,972	NSI NV		380,986
		Singapore — 2.8%
	429,500	CapitaLand Ltd.		1,125,210
	1,129,600	Frasers Centrepoint Trust		2,142,606
				3,267,816

See accompanying notes to financial statements.

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Portfolio of Investments – as of July 31, 2019 (Unaudited)

AEW Global Focused Real Estate Fund* – (continued)

Shares		Description	Value (†)
		Spain — 0.6%
	54,500	Merlin Properties Socimi S.A.	$	744,121
		Sweden — 1.8%
	60,000	Fabege AB		925,930
	134,899	Kungsleden AB		1,173,193
				2,099,123
		United Kingdom — 3.3%
	99,638	British Land Co. PLC (The)		615,099
	228,500	Grainger PLC		631,896
	220,415	Segro PLC		2,045,083
	48,300	Workspace Group PLC		494,218
				3,786,296
		United States — 53.0%
	145,700	Americold Realty Trust		4,885,321
	30,500	AvalonBay Communities, Inc.		6,368,095
	39,900	Boston Properties, Inc.		5,304,705
	96,400	CubeSmart		3,272,780
	64,000	CyrusOne, Inc.		3,673,600
	88,800	Douglas Emmett, Inc.		3,624,816
	173,300	Duke Realty Corp.		5,776,089
	32,400	Federal Realty Investment Trust		4,277,124
	118,000	HCP, Inc.		3,767,740
	147,000	Healthcare Trust of America, Inc., Class A		3,958,710
	152,200	Invitation Homes, Inc.		4,180,934
	32,000	Simon Property Group, Inc.		5,190,400
	76,200	STORE Capital Corp.		2,606,802
	213,400	VICI Properties, Inc.		4,553,956
				61,441,072
		Total Common Stocks (Identified Cost $106,280,744)		114,220,812
Principal Amount
	Short-Term Investments — 1.2%
$	1,431,486	Tri-Party Repurchase Agreement with Fixed Income Clearing Corporation, dated 7/31/2019 at 1.500% to be repurchased at $1,431,546 on 8/01/2019 collateralized by $1,370,000 U.S. Treasury Inflation Note, 0.125% due 4/15/2021 valued at $1,463,735 including accrued interest (Note 2 of Notes to Financial Statements) (Identified Cost $1,431,486)		1,431,486
		Total Investments — 99.8% (Identified Cost $107,712,230)		115,652,298
		Other Assets Less Liabilities — 0.2%		176,616
		Net Assets — 100.0%	$	115,828,914
	*	Formerly AEW Real Estate Fund.
	(†)	See Note 2 of Notes to Financial Statements.
	REITs	Real Estate Investment Trusts

See accompanying notes to financial statements.

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Portfolio of Investments – as of July 31, 2019 (Unaudited)

AEW Global Focused Real Estate Fund* – (continued)

Industry Summary at July 31, 2019 (Unaudited)

REITs – Diversified	19.2	%
Real Estate Management & Development	17.7
REITs – Apartments	13.4
REITs – Office Property	12.7
REITs – Warehouse/Industrials	8.4
REITs – Shopping Centers	7.4
REITs – Health Care	6.7
REITs – Regional Malls	6.3
REITs – Storage	2.8
REITs – Single Tenant	2.2
REITs – Hotels	1.8
Short-Term Investments	1.2
Total Investments	99.8
Other assets less liabilities	0.2
Net Assets	100.0	%

Currency Exposure Summary at July 31, 2019 (Unaudited)

United States Dollar	54.2	%
Japanese Yen	12.4
Euro	9.0
Hong Kong Dollar	7.3
Australian Dollar	5.1
Canadian Dollar	3.9
British Pound	3.3
Singapore Dollar	2.8
Swedish Krona	1.8
Total Investments	99.8
Other assets less liabilities	0.2
Net Assets	100.0	%

See accompanying notes to financial statements.

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Statement of Assets and Liabilities

July 31, 2019 (Unaudited)

ASSETS
Investments at cost	$	107,712,230
Net unrealized appreciation		7,940,068
Investments at value		115,652,298
Foreign currency at value (identified cost $443)		437
Receivable for Fund shares sold		83,926
Receivable for securities sold		2,413,682
Dividends and interest receivable		141,901
Tax reclaims receivable		1,468
Prepaid expenses (Note 7)		12
TOTAL ASSETS		118,293,724
LIABILITIES
Payable for securities purchased		2,130,946
Payable for Fund shares redeemed		91,126
Management fees payable (Note 5)		35,949
Deferred Trustees’ fees (Note 5)		127,735
Administrative fees payable (Note 5)		4,252
Payable to distributor (Note 5d)		3,052
Other accounts payable and accrued expenses		71,750
TOTAL LIABILITIES		2,464,810
NET ASSETS	$	115,828,914
NET ASSETS CONSIST OF:
Paid-in capital	$	94,194,436
Accumulated earnings		21,634,478
NET ASSETS	$	115,828,914
COMPUTATION OF NET ASSET VALUE AND OFFERING PRICE:
Class A shares:
Net assets	$	35,489,029
Shares of beneficial interest		2,367,001
Net asset value and redemption price per share	$	14.99
Offering price per share (100/94.25 of net asset value) (Note 1)	$	15.90
Class C shares:(redemption price per share is equal to net asset value less any applicable contingent deferred sales charge) (Note 1)
Net assets	$	1,612,537
Shares of beneficial interest		106,965
Net asset value and offering price per share	$	15.08
Class N shares:
Net assets	$	8,110,111
Shares of beneficial interest		584,931
Net asset value, offering and redemption price per share	$	13.87
Class Y shares:
Net assets	$	70,617,237
Shares of beneficial interest		5,106,696
Net asset value, offering and redemption price per share	$	13.83

See accompanying notes to financial statements.

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Statement of Operations

For the Six Months Ended July 31, 2019 (Unaudited)

INVESTMENT INCOME
Dividends	$	2,135,190
Interest		11,792
Less net foreign taxes withheld		(68,586	)
		2,078,396
Expenses
Management fees (Note 5)		466,402
Service and distribution fees (Note 5)		55,552
Administrative fees (Note 5)		26,322
Trustees’ fees and expenses (Note 5)		26,595
Transfer agent fees and expenses (Notes 5 and 6)		109,320
Audit and tax services fees		32,966
Custodian fees and expenses		5,227
Legal fees (Note 7)		2,054
Registration fees		37,011
Shareholder reporting expenses		28,318
Miscellaneous expenses (Note 7)		13,985
Total expenses		803,752
Less waiver and/or expense reimbursement (Note 5)		(174,432	)
Net expenses		629,320
Net investment income		1,449,076
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS AND FOREIGN CURRENCY TRANSACTIONS
Net realized gain on:
Investments		13,239,034
Payments by affiliates (Note 5)		94,912
Foreign currency transactions (Note 2c)		89,339
Capital gain distributions received (Note 2)		6,600
Net change in unrealized appreciation (depreciation) on:
Investments		(9,402,996	)
Foreign currency translations (Note 2c)		(2,943	)
Net realized and unrealized gain on investments and foreign currency transactions		4,023,946
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS	$	5,473,022

See accompanying notes to financial statements.

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Statement of Changes in Net Assets

	Six Months Ended July 31, 2019 (Unaudited)			Year Ended January 31, 2019
FROM OPERATIONS:
Net investment income	$	1,449,076		$	2,465,715
Net realized gain on investments and foreign currency transactions		13,429,885			7,275,452
Net change in unrealized appreciation (depreciation) on investments and foreign currency translations		(9,405,939	)		2,058,032
Net increase in net assets resulting from operations		5,473,022			11,799,199
FROM DISTRIBUTIONS TO SHAREHOLDERS:
Class A		(715,067	)		(3,178,207	)
Class C		(28,184	)		(188,907	)
Class N		(156,267	)		(609,544	)
Class Y		(1,564,180	)		(7,039,510	)
Total distributions		(2,463,698	)		(11,016,168	)
NET DECREASE IN NET ASSETS FROM CAPITAL SHARE TRANSACTIONS (NOTE 10)		(7,956,868	)		(21,486,790	)
Net decrease in net assets		(4,947,544	)		(20,703,759	)
NET ASSETS
Beginning of the period		120,776,458			141,480,217
End of the period	$	115,828,914		$	120,776,458

See accompanying notes to financial statements.

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Financial Highlights

For a share outstanding throughout each period.

	Class A
	Six Months Ended July 31, 2019 (Unaudited)			Year Ended January 31, 2019			Year Ended January 31, 2018			Year Ended January 31, 2017			Year Ended January 31, 2016			Year Ended January 31, 2015
Net asset value, beginning of the period	$	14.62		$	14.49		$	15.84		$	15.93		$	18.51		$	15.20
INCOME (LOSS) FROM INVESTMENT OPERATIONS:
Net investment income(a)		0.17			0.25			0.24			0.18			0.22			0.20
Net realized and unrealized gain (loss)		0.48			1.07			(0.14	)		1.33			(1.33	)		4.57
Total from Investment Operations		0.65			1.32			0.10			1.51			(1.11	)		4.77
LESS DISTRIBUTIONS FROM:
Net investment income		(0.08	)		(0.23	)		(0.22	)		(0.22	)		(0.18	)		(0.20	)
Net realized capital gains		(0.20	)		(0.96	)		(1.23	)		(1.38	)		(1.29	)		(1.26	)
Total Distributions		(0.28	)		(1.19	)		(1.45	)		(1.60	)		(1.47	)		(1.46	)
Net asset value, end of the period	$	14.99		$	14.62		$	14.49		$	15.84		$	15.93		$	18.51
Total return(b)		4.43	%(c)(d)		9.95	%(d)		0.49	%(d)		9.51	%(d)		(6.21	)%(d)		32.94	%
RATIOS TO AVERAGE NET ASSETS:
Net assets, end of the period (000’s)	$	35,489		$	38,826		$	41,189		$	58,312		$	56,344		$	77,842
Net expenses		1.22	%(e)(f)(g)		1.25	%(f)		1.29	%(f)(h)		1.35	%(f)		1.36	%(f)(i)		1.40	%(j)
Gross expenses		1.52	%(e)		1.45	%		1.43	%		1.38	%		1.38	%		1.40	%
Net investment income		2.29	%(e)		1.75	%		1.49	%		1.06	%		1.31	%		1.23	%
Portfolio turnover rate		68	%(k)		20	%		11	%		13	%		17	%		18	%

(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 June 1, 2019, the expense limit decreased from 1.25% to 1.15%.

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

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

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

(k) The variation in the Fund’s turnover rate from the year ended January 31, 2019 to the period ended July 31, 2019 was primarily due to a change in the investment strategy of the Fund.

See accompanying notes to financial statements.

|  16

Financial Highlights (continued)

For a share outstanding throughout each period.

	Class C
	Six Months Ended July 31, 2019 (Unaudited)			Year Ended January 31, 2019			Year Ended January 31, 2018			Year Ended January 31, 2017			Year Ended January 31, 2016			Year Ended January 31, 2015
Net asset value, beginning of the period	$	14.70		$	14.54		$	15.87		$	15.95		$	18.55		$	15.23
INCOME (LOSS) FROM INVESTMENT OPERATIONS:
Net investment income(a)		0.11			0.14			0.11			0.06			0.09			0.08
Net realized and unrealized gain (loss)		0.49			1.06			(0.12	)		1.33			(1.33	)		4.58
Total from Investment Operations		0.60			1.20			(0.01	)		1.39			(1.24	)		4.66
LESS DISTRIBUTIONS FROM:
Net investment income		(0.02	)		(0.08	)		(0.09	)		(0.09	)		(0.07	)		(0.08	)
Net realized capital gains		(0.20	)		(0.96	)		(1.23	)		(1.38	)		(1.29	)		(1.26	)
Total Distributions		(0.22	)		(1.04	)		(1.32	)		(1.47	)		(1.36	)		(1.34	)
Net asset value, end of the period	$	15.08		$	14.70		$	14.54		$	15.87		$	15.95		$	18.55
Total return(b)		4.11	%(c)(d)		9.03	%(d)		(0.21	)%(d)		8.67	%(d)		(6.87	)%(d)		31.95	%
RATIOS TO AVERAGE NET ASSETS:
Net assets, end of the period (000’s)	$	1,613		$	1,946		$	4,472		$	7,307		$	7,869		$	10,432
Net expenses		1.97	%(e)(f)(g)		2.00	%(f)		2.05	%(f)(h)		2.10	%(f)		2.11	%(f)(i)		2.15	%(j)
Gross expenses		2.27	%(e)		2.20	%		2.18	%		2.13	%		2.13	%		2.15	%
Net investment income		1.51	%(e)		0.98	%		0.71	%		0.34	%		0.55	%		0.48	%
Portfolio turnover rate		68	%(k)		20	%		11	%		13	%		17	%		18	%

(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 June 1, 2019, the expense limit decreased from 2.00% to 1.90%.

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

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

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

(k) The variation in the Fund’s turnover rate from the year ended January 31, 2019 to the period ended July 31, 2019 was primarily due to a change in the investment strategy of the Fund.

See accompanying notes to financial statements.

17  |

Financial Highlights (continued)

For a share outstanding throughout each period.

	Class N
	Six Months Ended July 31, 2019 (Unaudited)			Year Ended January 31, 2019			Year Ended January 31, 2018			Year Ended January 31, 2017			Year Ended January 31, 2016			Year Ended January 31, 2015
Net asset value, beginning of the period	$	13.54		$	13.52		$	14.87		$	15.05		$	17.57		$	14.48
INCOME (LOSS) FROM INVESTMENT OPERATIONS:
Net investment income (loss)(a)		0.18			0.27			0.26			0.22			(0.17	)(b)		0.25
Net realized and unrealized gain (loss)		0.45			0.98			(0.11	)		1.27			(0.81	)		4.35
Total from Investment Operations		0.63			1.25			0.15			1.49			(0.98	)		4.60
LESS DISTRIBUTIONS FROM:
Net investment income		(0.10	)		(0.27	)		(0.27	)		(0.29	)		(0.25	)		(0.25	)
Net realized capital gains		(0.20	)		(0.96	)		(1.23	)		(1.38	)		(1.29	)		(1.26	)
															��
Total Distributions		(0.30	)		(1.23	)		(1.50	)		(1.67	)		(1.54	)		(1.51	)
Net asset value, end of the period	$	13.87		$	13.54		$	13.52		$	14.87		$	15.05		$	17.57
Total return		4.57	%(c)(d)		10.22	%(d)		0.88	%(d)		9.91	%		(5.79	)%(d)		33.48	%(d)
RATIOS TO AVERAGE NET ASSETS:
Net assets, end of the period (000’s)	$	8,110		$	6,830		$	6,865		$	6,108		$	4,513		$	1
Net expenses		0.91	%(e)(f)(g)		0.95	%(f)		0.97	%(f)(h)		0.97	%		0.94	%(f)(i)		0.99	%(f)(j)
Gross expenses		1.09	%(e)		1.00	%		1.01	%		0.97	%		1.01	%		9.79	%
Net investment income (loss)		2.56	%(e)		2.07	%		1.79	%		1.38	%		(1.14	)%(b)		1.60	%
Portfolio turnover rate		68	%(k)		20	%		11	%		13	%		17	%		18	%

(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 June 1, 2019, the expense limit decreased from 0.95% to 0.85%.

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

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

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

(k) The variation in the Fund’s turnover rate from the year ended January 31, 2019 to the period ended July 31, 2019 was primarily due to a change in the investment strategy of the Fund.

See accompanying notes to financial statements.

|  18

Financial Highlights (continued)

For a share outstanding throughout each period.

	Class Y
	Six Months Ended July 31, 2019 (Unaudited)			Year Ended January 31, 2019			Year Ended January 31, 2018			Year Ended January 31, 2017			Year Ended January 31, 2016			Year Ended January 31, 2015
Net asset value, beginning of the period	$	13.50		$	13.48		$	14.84		$	15.01		$	17.54		$	14.48
INCOME (LOSS) FROM INVESTMENT OPERATIONS:
Net investment income(a)		0.17			0.27			0.25			0.21			0.25			0.23
Net realized and unrealized gain (loss)		0.45			0.98			(0.12	)		1.27			(1.27	)		4.33
Total from Investment Operations		0.62			1.25			0.13			1.48			(1.02	)		4.56
LESS DISTRIBUTIONS FROM:
Net investment income		(0.09	)		(0.27	)		(0.26	)		(0.27	)		(0.22	)		(0.24	)
Net realized capital gains		(0.20	)		(0.96	)		(1.23	)		(1.38	)		(1.29	)		(1.26	)
Total Distributions		(0.29	)		(1.23	)		(1.49	)		(1.65	)		(1.51	)		(1.50	)
Net asset value, end of the period	$	13.83		$	13.50		$	13.48		$	14.84		$	15.01		$	17.54
Total return		4.64	%(b)(c)		10.19	%(c)		0.73	%(c)		9.78	%(c)		(5.95	)%(c)		33.21	%
RATIOS TO AVERAGE NET ASSETS:
Net assets, end of the period (000’s)	$	70,617		$	73,173		$	88,954		$	126,203		$	140,022		$	176,555
Net expenses		0.97	%(d)(e)(f)		1.00	%(e)		1.04	%(e)(g)		1.10	%(e)		1.11	%(e)(h)		1.15	%(i)
Gross expenses		1.27	%(d)		1.20	%		1.18	%		1.13	%		1.13	%		1.15	%
Net investment income		2.52	%(d)		2.00	%		1.71	%		1.30	%		1.55	%		1.49	%
Portfolio turnover rate		68	%(j)		20	%		11	%		13	%		17	%		18	%

(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 June 1, 2019, the expense limit decreased from 1.00% to 0.90%.

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

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

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

(j) The variation in the Fund’s turnover rate from the year ended January 31, 2019 to the period ended July 31, 2019 was primarily due to a change in the investment strategy of the Fund.

See accompanying notes to financial statements.

19  |

Notes to Financial Statements

July 31, 2019 (Unaudited)

1.  Organization.  AEW Global Focused Real Estate Fund (formerly 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 anopen-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 maximumfront-end sales charge of 5.75%. Class C shares do not pay afront-end sales charge, pay higher Rule12b-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 afront-end sales charge, a CDSC or Rule12b-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 bornepro rata by the holders of each class of shares, except that each class bears expenses unique to that class (such as the Rule12b-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 Rule12b-1 Plan. Shares of each class would receive theirpro ratashare 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, 2019 (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 ofclosed-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, 2019 (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.

As of July 31, 2019, securities held by Fund were fair valued as follows:

Equity securities1	Percentage of Net Assets
$43,821,143	37.8%

¹  Certain foreign equity securities were fair valued pursuant to procedures approved by the Board of Trustees as events occurring after the close of the foreign market were believed to materially affect the value of those securities.

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 the trade date. Dividend income (including income reinvested) and foreign withholding tax, if applicable, is recorded on theex-dividend date, or in the case of certain foreign securities, as soon as the Fund is notified, 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 calendaryear-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 February 1 through July 31, 2019 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 apro rata basis to each class based on the relative net assets of each class to the total net assets of the Fund.

c.  Foreign Currency Translation.  The books and records of the Fund are maintained in U.S. dollars. The values of securities, currencies and other assets and liabilities denominated in currencies other than U.S. dollars, if any, 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.

|  22

Notes to Financial Statements (continued)

July 31, 2019 (Unaudited)

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 Funds’ 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 Statement of Operations. For federal income tax purposes, net realized foreign exchange gains or losses are characterized as ordinary income and may, if the Fund has net losses, reduce the amount of income available to be distributed by the Fund.

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 Statement 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 Fund 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 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, 2019 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 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

23  |

Notes to Financial Statements (continued)

July 31, 2019 (Unaudited)

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.

e.  Dividends and Distributions to Shareholders.  Dividends and distributions are recorded on theex-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 return of capital distributions received. 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, 2019 was as follows:

2019 Distributions Paid From:
Ordinary Income	Long-Term Capital Gains	Total
$2,362,427	$8,653,741	$11,016,168

Distributions paid to shareholders from net investment income and net realized capital gains, based on accounting principles generally accepted in the United States of America, are consolidated and reported on the Statement of Changes in Net Assets as Distributions to Shareholders. Distributions paid to shareholders from net investment income and net realized capital gains expressed inper-share amounts, based on

|  24

Notes to Financial Statements (continued)

July 31, 2019 (Unaudited)

accounting principles generally accepted in the United States of America, are separately stated and reported within the Financial Highlights.

As of July 31, 2019, the tax cost of investments and unrealized appreciation (depreciation) on a federal tax basis were as follows:

Federal tax cost	$	107,712,230
Gross tax appreciation	$	10,361,678
Gross tax depreciation		(2,421,610	)
Net tax appreciation	$	7,940,068

f.  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 aretri-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, 2019, 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.

g.  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 fornon-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 bynon-U.S. Governments andnon-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.

25  |

Notes to Financial Statements (continued)

July 31, 2019 (Unaudited)

For the six months ended July 31, 2019, the Fund did not loan securities under this agreement.

h.  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.

|  26

Notes to Financial Statements (continued)

July 31, 2019 (Unaudited)

The following is a summary of the inputs used to value the Fund’s investments as of July 31, 2019, at value:

Asset Valuation Inputs

Description	Level 1		Level 2		Level 3		Total
Common Stocks
Australia	$	—	$	5,934,344	$	—	$	5,934,344
Germany		966,094		5,486,992		—		6,453,086
Hong Kong		—		8,397,818		—		8,397,818
Japan		—		14,355,543		—		14,355,543
Netherlands		—		380,986		—		380,986
Singapore		—		3,267,816		—		3,267,816
Spain		—		744,121		—		744,121
Sweden		—		2,099,123		—		2,099,123
United Kingdom		631,896		3,154,400		—		3,786,296
All Other Common Stocks(a)		68,801,679		—		—		68,801,679
Total Common Stocks	$	70,399,669	$	43,821,143	$	—	$	114,220,812
Short-Term Investments		—		1,431,486		—		1,431,486
Total	$	70,399,669	$	45,252,629	$	—	$	115,652,298

(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, 2019, there were no transfers among Levels 1, 2 and 3.

4.  Purchases and Sales of Securities.  For the six months ended July 31, 2019, purchases and sales of securities (excluding short-term investments) were $79,906,344 and $89,235,038, respectively.

5.  Management Fees and Other Transactions with Affiliates.

a.  Management Fees.  AEW Capital Management, L.P. (“AEW”) serves as the investment adviser to the Fund. AEW is a wholly-owned subsidiary of Natixis 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 0.75%, calculated daily and payable monthly, based on the Fund’s average daily net assets.

Prior to June 1, 2019, the Fund paid 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

27  |

Notes to Financial Statements (continued)

July 31, 2019 (Unaudited)

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 May 31, 2020, 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 period June 1, 2019 to July 31, 2019, 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
1.15%		1.90%		0.85%		0.90%

Prior to June 1, 2019, 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, 2019, the management fees and waiver of management fees for the Fund were as follows:

Gross Management Fees		Contractual Waivers of Management Fees1		Net Management Fees		Percentage of Average Daily Net Assets
						Gross			Net
$	466,402	$	173,290	$	293,112		0.78	%		0.49	%

¹ Management fee waiver is subject to possible recovery until January 31, 2021.

No expenses were recovered during the six months ended July 31, 2019 under the terms of the expense limitation agreement.

|  28

Notes to Financial Statements (continued)

July 31, 2019 (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 Fund.

Pursuant to Rule12b-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, 2019, the service and distribution fees for the Fund were as follows:

Service Fees		Distribution Fees
Class A	Class C	Class C
$46,466	$2,271	$6,815

c.  Administrative Fees.  Natixis Advisors, L.P. (“Natixis Advisors”) provides certain administrative services for the Fund and contracts with State Street Bank to serve assub-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, effective July 1, 2019, the Fund pays Natixis Advisors monthly itspro rataportion of fees equal to an annual rate of 0.0540% 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.

29  |

Notes to Financial Statements (continued)

July 31, 2019 (Unaudited)

Prior to July 1, 2019, the Fund paid Natixis Advisors monthly itspro 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.

Effective October 1, 2018, State Street Bank agreed to reduce the fees it receives from Natixis Advisors for serving assub-administrator to the Fund. Also, effective October 1, 2018, Natixis Advisors agreed to voluntarily waive fees paid by the Fund in an amount equal to the reduction insub-administrative fees discussed above. The waiver was in effect through June 30, 2019.

For the six months ended July 31, 2019, the administrative fees were as follows:

Gross Administrative Fees	Waiver of Administrative Fees	Net Administrative Fees
$26,322	$519	$25,803

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 currentper-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, 2019, thesub-transfer agent fees (which are reflected in transfer agent fees and expenses in the Statement of Operations) for the Fund were $89,633.

As of July 31, 2019, the Fund owes Natixis Distribution $3,052 in reimbursements forsub-transfer agent fees (which are reflected in the Statement of Assets and Liabilities as payable to distributor).

|  30

Notes to Financial Statements (continued)

July 31, 2019 (Unaudited)

Sub-transfer agent fees attributable to Class A, Class C and Class Y are allocated on apro 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, 2019 amounted to $502.

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, Natixis Distribution, Natixis or their affiliates. The Chairperson of the Board of Trustees receives a retainer fee at the annual rate of $360,000. 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 $190,000. 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 $15,000. 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 allocatedpro rataamong 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.

Certain officers and employees of Natixis Advisors and its affiliates are also officers and/or Trustees of the Trust.

31  |

Notes to Financial Statements (continued)

July 31, 2019 (Unaudited)

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 May 31, 2020 and is not subject to recovery under the expense limitation agreement described above.

For the six months ended July 31, 2019, Natixis Advisors reimbursed the Fund $623 for transfer agency expenses related to Class N shares.

h.  Payment by Affiliates.  During the six months ended July 31, 2019, AEW and Natixis reimbursed the Fund $94,912 for transaction costs incurred in conjunction with a strategy change. This amount is included in realized gains in the Statement of Operations.

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 apro ratabasis 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, 2019, the Fund incurred the following class-specific transfer agent fees and expenses (includingsub-transfer agent fees, where applicable):

	Class A		Class C		Class N		Class Y
Transfer Agent Fees and Expenses	$	36,059	$	1,767	$	623	$	70,871

7.  Line of Credit.  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 certain other legal fees in connection with the line of credit agreement, which are being amortized over a period of 364 days and are reflected in legal fees and/or miscellaneous expenses on the Statement of Operations. The unamortized balance is reflected as prepaid expenses on the Statement of Assets and Liabilities.

For the six months ended July 31, 2019, the Fund had no borrowings under this agreement.

|  32

Notes to Financial Statements (continued)

July 31, 2019 (Unaudited)

8.  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.

The Fund’s investments in foreign securities are subject to foreign currency fluctuations, higher volatility than U.S. securities, varying degrees of regulation and limited liquidity. Greater political, economic, credit and information risks are also associated with foreign securities.

9.  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, 2019, 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	14.92%

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 anon-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.

10.  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, 2019						Year Ended January 31, 2019
	Shares			Amount			Shares			Amount
Class A
Issued from the sale of shares		171,392		$	2,569,599			526,863		$	7,517,660
Issued in connection with the reinvestment of distributions		41,377			619,004			201,730			2,730,701
Redeemed		(501,984	)		(7,542,503	)		(914,593	)		(13,021,531	)
Net change		(289,215	)	$	(4,353,900	)		(186,000	)	$	(2,773,170	)

33  |

Notes to Financial Statements (continued)

July 31, 2019 (Unaudited)

10.  Capital Shares (continued).

	Six Months Ended July 31, 2019						Year Ended January 31, 2019
	Shares			Amount			Shares			Amount
Class C
Issued from the sale of shares		8,256		$	124,419			16,412		$	230,189
Issued in connection with the reinvestment of distributions		1,281			19,268			11,125			149,205
Redeemed		(34,978	)		(527,607	)		(202,751	)		(2,915,664	)
Net change		(25,441	)	$	(383,920	)		(175,214	)	$	(2,536,270	)
Class N
Issued from the sale of shares		111,488		$	1,549,932			56,043		$	737,042
Issued in connection with the reinvestment of distributions		11,286			156,224			48,507			609,543
Redeemed		(42,389	)		(585,990	)		(107,938	)		(1,433,215	)
Net change		80,385		$	1,120,166			(3,388	)	$	(86,630	)
Class Y
Issued from the sale of shares		463,135		$	6,397,038			969,223		$	12,626,402
Issued in connection with the reinvestment of distributions		104,084			1,436,584			509,525			6,385,886
Redeemed		(879,493	)		(12,172,836	)		(2,656,842	)		(35,103,008	)
Net change		(312,274	)	$	(4,339,214	)		(1,178,094	)	$	(16,090,720	)
Decrease from capital share transactions		(546,545	)	$	(7,956,868	)		(1,542,696	)	$	(21,486,790	)

|  34

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 forClosed-End Management Investment Companies.

Not applicable.

Item 8. Portfolio Managers ofClosed-End Management Investment Companies.

Not applicable.

Item 9. Purchases of Equity Securities byClosed-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 FormN-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 period covered by this report that have materially affected, or is reasonably likely to materially affect, the Registrant’s internal control over financial reporting.

Item 12. Disclosure of Securities Lending Activities forClosed-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 Rule30a-2(a) under the Investment Company Act of 1940 (17 CFR270.30a-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 20, 2019

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 20, 2019
By:	/s/ Michael C. Kardok
Name:	Michael C. Kardok
Title:	Treasurer
Date:	September 20, 2019