Loomis Sayles Senior Floating Rate and Fixed Income Fund

Q1 | March 31, 2015
Loomis Sayles Senior Floating Rate and Fixed Income Fund
Fund Highlights
Morningstar Rating
• A fund investing primarily in loans and debt securities (minimum 65% of net assets) that have floating or
variable interest rates that are tied to a base market lending rate, plus an additional spread to compensate
for credit-specific risk
• Floating rate bank loan focused, but has flexibility to allocate to other fixed-income asset classes such as
high yield, convertibles, securitized issues or government securities
• Fund managers allocate tactically across floating rate bank loans and other fixed-income asset classes
including high yield, convertibles, securitized issues and government securities based on their economic
and market outlook:
In strong economic markets – Allocations favor riskier assets such as high yield bonds
In weak economic markets – Allocations favor less risky assets such as Treasuries
Bank Loan – Class Y
Average annualized total returns†
Overall out of 193 funds
Three years out of 193 funds
Ticker
Cusip
Class A
Class C
Class Y
LSFAX
LSFCX
LSFYX
63872T-57-0
63872T-56-2
63872T-55-4
2.06%
2.22%
5.57%
-1.52
-1.40
4.32
6.36
2.12
2.58
5.86
7.73
Fund Facts
2.13
2.53
4.90
6.16
Objective
1 year
3 years
Class A maximum sales charge of 3.50%
Class C maximum CDSC of 1.00%
Calendar year returns
Seeks to provide a high level of
current income
Total net assets
$1.5 billion
9/30/2011
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
Inception date
Class A at NAV (%)
-
-
-
-
-
-
4.06
11.82
6.14
2.05
Number of holdings
S&P/LSTA Leveraged
Loan® Index (%)5
-
-
-
-
-
-
2.88
9.66
5.29
1.60
1
Investment return – Hypothetical growth of $10,000 investment since inception4
$14,000
$12,864
$12,000
★★★★★
★★★★★
Share Class
Life of class
9/30/11
7.46%
3 months
Class A at NAV
Class A with 3.50%
maximum sales charge
Class Y
S&P/LSTA Leveraged Loan®
Index5
Overall rating derived from weighted average of the
3-, 5- and 10-year (if applicable) Morningstar Rating
metrics; other ratings based on risk-adjusted returns.
234
Turnover as of 11/30/2014
107%
30 Day SEC Yield
(A, Subsidized)
5.93%
30 Day SEC Yield
(A, Unsubsidized)2
5.91%
Distribution frequency
Monthly
3
$10,000
Gross Expense Ratios (A/Y)
$8,000
3
Net Expense Ratios (A/Y)
1.10%/0.86%
1.10%/0.85%
$6,000
$4,000
$2,000
$0
9/11
3/12
9/12
3/13
9/13
3/14
9/14
3/15
Performance data quoted represents past performance and is no guarantee of future results. Total return and value will vary, and you may have a gain or loss when
shares are sold. Current performance may be lower or higher than quoted. For most recent month-end performance, visit ngam.natixis.com. Performance 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.
1 The calendar year performance shown for 2011 is a partial year of performance since inception on 9/30/2011 through 12/31/2011. 2 Unsubsidized 30-day SEC yield is
calculated using the gross expenses of the fund. Gross expenses do not include any fee waivers or reimbursement. 3 As of the most recent prospectus, the investment
advisor has contractually agreed to waive fees and/or reimburse expenses (with certain exceptions) once the expense cap of the fund has been exceeded. This arrangement is set to expire on 3/31/16. When an expense cap has not been exceeded, the gross and net expense ratios and/or yields may be the same. 4 This chart tracks hypothetical growth of a $10,000 investment in Class A shares without the effect of sales charges. If the maximum sales charge were included, returns would have been lower.
Not all share classes are available for purchase by all investors. See the prospectus for more details.
For funds at least three years old, Morningstar calculates ratings based on a Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance
(including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. Past performance is no guarantee of future results. The top 10% of funds in each category receive five stars, the next 22.5% receive four stars, the next 35% receive three stars, the
next 22.5% receive two stars, and the bottom 10% receive one star. Overall ratings are derived from a weighted average of the performance figures associated with three-,
five-, and ten-year (if applicable) Morningstar metrics. Past performance is no guarantee of future results.
© 2015 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or
distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising
from any use of this information.
Loomis Sayles Senior Floating Rate and Fixed Income Fund
Manager Overview
Portfolio Overview
Top ten holdings7
Sector breakdown
Sector
% of Portfolio
Bank Loans
84.80
High Yield
11.94
Cash & Equivalents
Q1 | March 31, 2015
3.26
Credit quality6
% of Portfolio
Company
Investment Manager
% of Portfolio
1. Asurion LLC, New 2nd Lien Term Loan,
8.500%, 03/03/2021
0.95
2. Albertson's Holdings LLC, Term Loan
B4, 5.500%, 08/25/2021
0.87
3. FairPoint Communications, Inc.,
8.750%, 08/15/2019
0.87
4. New HB Acquisition LLC, Term Loan,
6.750%, 04/09/2020
0.86
BB
11.29
B
63.49
5. Applied Systems, Inc., New 2nd Lien
Term Loan, 7.500%, 01/24/2022
0.83
CCC & Lower
21.57
6. Southcross Holdings Borrower LP,
Term Loan B, 6.000%, 08/04/2021
0.78
7. SourceHov LLC, 2014 1st Lien Term
Loan, 7.750%, 10/31/2019
0.78
8. PowerTeam Services LLC, 2nd Lien
Term Loan, 8.250%, 11/06/2020
0.78
9. Perstorp Holding AB, 11.000%,
08/15/2017
0.77
10. CareCore National LLC, Term Loan B,
5.500%, 03/05/2021
0.76
Not Rated
0.39
Cash & Equivalents
3.26
Loomis, Sayles & Company has served the
needs of institutional and individual investors
for more than 80 years. An active, multi-style
investment manager, the firm offers both traditional and highly specialized asset classes.
Employing an opportunistic approach, balanced
with disciplined, bottom-up research and quantitative risk analysis, the investment teams
strive to produce above-average returns across
asset classes and categories.
Headquarters: Boston, MA
Founded: 1926
Assets under management: $224.8 billion
(as of 12/31/2014)8
Portfolio Managers
John R. Bell
Kevin J. Perry
Risks
Floating rate (Bank) loans are often lower-quality debt securities and may involve greater risk of price changes and greater risk of default on interest and principal payments. The market for floating rate (Bank) loans is largely unregulated and these assets usually do not trade on an organized exchange. As a result, floating rate (Bank)
loans can be relatively illiquid and hard to value. The fund invests in floating rate and other debt securities which are typically rated below investment grade, which can
increase the risk of default and price volatility. While the market for floating rate loans is large, the volume on the secondary market for these securities can be less robust
than other fixed-income markets. This limited liquidity may affect the ability of the fund to purchase or sell floating rate loans and may have a negative impact on fund performance. The use of leverage can cause increases and decreases in the value of portfolio securities to be more exaggerated than if the fund did not use leverage. This fund
is non-diversified and may tend to be more volatile than diversified funds. Mutual funds that invest in bonds can lose their value as interest rates rise, and an investor can
lose principal. Because the fund can invest a percentage of assets in foreign securities, the value of the fund shares can be adversely affected by changes in currency
exchange rates, political, and economic developments, which can be significant in emerging markets.
5 The S&P/LSTA Leveraged Loan® Index (LLI) covers more than 1,100 loan facilities and reflects the market-value-weighted performance of U.S. dollar-denominated institutional leveraged
loans. 6 Credit Quality is ranked highest to lowest, excluding cash & equivalents along with non-rated securities, as applicable. Credit quality reflects the highest credit rating assigned to individual holdings of the fund among Moody's, S&P or Fitch; ratings are subject to change. The fund's shares are not rated by any rating agency and no credit rating for fund shares is implied. 7 The
portfolio is actively managed and holdings are subject to change. References to specific securities or industries should not be considered a recommendation. For current holdings, please visit
our website. 8 Assets under management (AUM) may include assets for which non-regulatory AUM services are provided. Non-regulatory AUM includes assets which do not fall within the SEC's
definition of 'regulatory AUM' in Form ADV, Part 1.
Before investing, consider the fund’s investment objectives, risks, charges, and expenses. Visit ngam.natixis.com or call 800-225-5478 for
a prospectus or a summary prospectus containing this and other information. Read it carefully.
NGAM Distribution, L.P. is a limited purpose broker-dealer and the distributor of various registered investment companies for which advisory services are provided by
affiliates of Natixis Global Asset Management, S.A. • NGAM Distribution, L.P. is located at 399 Boylston Street, Boston, MA 02116. • 800-225-5478 • ngam.natixis.com
NOT FDIC INSURED • MAY LOSE VALUE • NO BANK GUARANTEE
966251.1.5
LSSFR59-0315