UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number: 811-09945
Natixis Funds Trust IV
(Exact name of registrant as specified in charter)
|
888 Boylston Street, Suite 800 Boston, Massachusetts |
02199-8197 |
|
(Address of principal executive offices) |
(Zip code) |
Russell L. Kane, Esq.
Natixis Distribution, L.P.
888 Boylston Street, Suite 800
Boston, Massachusetts 02199-8197 (Name and address of agent for service)
Registrant's telephone number, including area code: (617) 449-2822
Date of fiscal year end: January 31
Date of reporting period: January 31, 2020
Item 1. Report to Stockholders.
The Registrant's annual report transmitted to shareholders pursuant to Rule 30e-1 under the Investment Company Act of 1940 is as follows:
Table of Contents
Annual Report
January 31, 2020
AEW Global Focused Real Estate Fund
| Portfolio Review | 1 | |||
| Portfolio of Investments | 9 | |||
| Financial Statements | 12 | |||
| Notes to Financial Statements | 19 | |||
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 at www.icsdelivery.com/natixisfunds.
Table of Contents
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.
Market Conditions
Real estate securities, as well as other securities, posted strong returns over the one-year period, led by global monetary easing and reduced political risks. Employment growth in the US remained solid throughout the period, and the unemployment rate reached a 50-year low of 3.5%. The Federal Reserve reversed course and made three 25-basis-point cuts in short-term interest rates. Meanwhile, the 10-year US Treasury yield declined 112 basis points to end the period at 1.51%.
At close of business on May 31, 2019, the Fund changed its name and investment strategy. The Fund continues to use the same investment approach it always has, but it is now applied to real estate securities globally. This gives us the flexibility to allocate assets to those geographic areas where we see the most attractive opportunities for investment.
Performance Results
For the 12 months ended January 31, 2020, Class Y shares of the AEW Global Focused Real Estate Fund returned 13.48% at net asset value. The Fund outperformed its benchmark, the FTSE EPRA Nareit Developed Index (Net), which returned 11.93%.
Explanation of Fund Performance
Positive stock selection and positive regional allocation drove the Fund’s outperformance. Stock selection was strongest in North America, neutral in Asia Pacific, and slightly negative in Europe. The portfolio benefited from an overweight to North America and underweight to Europe and Asia Pacific.
Among the individual securities, the largest contributors included US companies VICI Properties, Inc., Duke Realty Corporation, and Invitation Homes, Inc. VICI is a triple net lease gaming/casino REIT, and the company benefited from increased institutional investor interest in the casino space, specifically Blackstone’s $4.25 billion acquisition of the Bellagio from MGM. Duke Realty is an industrial REIT, and the company benefited from continued strength in e-commerce retailers and demand for so-called “last mile” warehouse space near
1 |
Table of Contents
online customers. Invitation Homes is a single-family rental REIT, a sector that is also benefiting from strong demand due to a dearth of homes for sale.
The largest individual detractors included US regional mall company Simon Property Group, Inc., US industrial company Prologis, Inc. (PLD), and Hong Kong company Link Real Estate Investment Trust. Malls continued to be impacted by store closures, and even landlords with higher quality assets, such as Simon Property Group, faced increasing capital expenditure needs to backfill space. As a result, we moved from an overweight to underweight position in the name over the one-year period. Prologis reported solid performance results throughout the period and increased 2019 guidance. The company also announced it would acquire peer company Liberty Property Trust, which the portfolio did not hold. Overall, however, we prefer the relative valuations of Duke Realty Corporation, Rexford Industrial Realty, Inc., and Americold Realty Trust, Inc., and the portfolio’s overweight position in these industrial peers more than offset the detraction from the portfolio’s underweight position in Prologis and Liberty. Link owns parking, retail, and office properties across Hong Kong and mainland China, and investor concern regarding the economic impact of social unrest in Hong Kong weighed on the company’s share price. We quickly trimmed our overweight position, and the portfolio’s large underweight position to Hong Kong over the one-year period was a positive contributor.
Outlook
The coronavirus will have a negative impact on economic growth and a significant negative effect on some sectors such as hotels, airlines, and retail. Central banks around the world have taken action by cutting interest rates, and governments are likely to continue to announce stimulus packages. These actions are expected to support economic growth but also to avoid a credit crunch. Within real estate, however, we expect that the investment market will slow as investors will not travel to property inspections. Over time, we think that investment demand may improve as investors will continue to invest in safe yielding asset classes given that interest rates will be lower for longer and given that the gap between property yields and interest rates has widened. On the demand side, we expect that demand for retail and industrial/logistics space will be impacted as the flow of goods — especially from China and Italy — will temporarily slow. We are less concerned about the long-term effect on industrial/logistics as the sector has strong long-term fundamentals, but the impact on the already struggling retail sector could be more severe. The hotel sector is also heavily impacted as people travel less. Demand for office space will likely also slow temporarily.
In North America, the hotel sector has been hit hardest, and the outlook for 2020 was already weak before the virus. These stocks could be buys once the virus stops spreading, but until then we remain underweight. Retail has also been very weak. At some point, lower oil prices and lower interest rates may be a catalyst for improved consumer spending, but near-term concerns regarding a weakening economy only add to the existing problems in the retail sector, and we remain underweight. Defensive sectors (Storage, Manufactured Housing) and sectors with structural growth stories (Data Centers, Single-Family Rental) are outperforming.
| 2
Table of Contents
AEW GLOBAL FOCUSED REAL ESTATE FUND
In Europe, Switzerland is outperforming due to investor flows into safe haven countries, while the Netherlands and Italy have declined the most, primarily due to retail stocks. During the correction, we added a new position to the portfolio, Alstria Office REIT (German offices), as valuations began to look attractive.
In Asia Pacific, Australia is underperforming the most given the country’s larger dependence on Chinese export demand. Due to the announcement of the virus in January, we had already reduced our hotel exposure in Japan. We were originally overweight the sector, as this is the Olympic year for Tokyo and the hospitality sector should benefit from the event. The Asia Pacific portfolio remains underweight hotels and retail in all markets, which have both underperformed year-to-date.
The Fund continues to be well positioned as fear and uncertainty spreads along with the virus. We continue to watch for opportunities to rotate into names that may have sold off more than warranted and also those we feel could rebound more quickly once the negative sentiment troughs. Overall, if the impact of the coronavirus proves to be temporary, the current selloff may provide a good entry point into REITs.
3 |
Table of Contents
Hypothetical Growth of $100,000 Investment in Class Y Shares4,6
January 31, 2010 through January 31, 2020
See notes to chart on page 5.
Top Ten Holdings as of January 31, 2020
| Security Name |
% of
net assets |
|||||
| 1 | AvalonBay Communities, Inc. | 5.86 | % | |||
| 2 | VICI Properties, Inc. | 5.59 | ||||
| 3 | Americold Realty Trust | 5.03 | ||||
| 4 | Invitation Homes, Inc. | 5.03 | ||||
| 5 | Duke Realty Corp. | 4.96 | ||||
| 6 | Canadian Apartment Properties REIT | 4.72 | ||||
| 7 | Boston Properties, Inc. | 4.17 | ||||
| 8 | Healthcare Trust of America, Inc., Class A | 4.13 | ||||
| 9 | Healthpeak Properties, Inc. | 3.89 | ||||
| 10 | Douglas Emmett, Inc. | 3.48 | ||||
The portfolio is actively managed and holdings are subject to change. There is no guarantee the Fund continues to invest in the securities referenced. The holdings listed exclude any temporary cash investments.
| 4
Table of Contents
Average Annual Total Returns — January 31, 20204,6
|
Life of
|
Expense Ratios5 | |||||||||||||||||||||||
| 1 Year | 5 Years | 10 Years | Class N | Gross | Net | |||||||||||||||||||
| Class Y (Inception 8/31/00) | ||||||||||||||||||||||||
| NAV | 13.48 | % | 5.39 | % | 12.19 | % | — | % | 1.15 | % | 0.90 | % | ||||||||||||
| Class A (Inception 12/29/00) | ||||||||||||||||||||||||
| NAV | 13.18 | 5.13 | 11.92 | — | 1.40 | 1.15 | ||||||||||||||||||
| With 5.75% Maximum Sales Charge | 6.69 | 3.89 | 11.26 | — | ||||||||||||||||||||
| Class C (Inception 12/29/00) | ||||||||||||||||||||||||
| NAV | 12.35 | 4.35 | 11.08 | — | 2.15 | 1.90 | ||||||||||||||||||
| With CDSC1 | 11.38 | 4.35 | 11.08 | — | ||||||||||||||||||||
| Class N (Inception 5/01/13) | ||||||||||||||||||||||||
| NAV | 13.49 | 5.49 | — | 7.47 | 0.95 | 0.85 | ||||||||||||||||||
| Comparative Performance | ||||||||||||||||||||||||
|
FTSE EPRA Nareit Developed
Index (Net)2 |
11.93 | 5.69 | 9.99 | 5.89 | ||||||||||||||||||||
| MSCI US REIT Index3 | 13.89 | 5.89 | 12.68 | 7.76 | ||||||||||||||||||||
Performance data shown represents past performance and is no guarantee of, and not necessarily indicative of, future results. Total return and value will vary, and you may have a gain or loss when shares are sold. Current performance may be lower or higher than quoted. For most recent month-end performance, visit im.natixis.com/performance. Performance for other share classes will be greater or less than shown based on differences in fees and sales charges. You may not invest directly in an index. Performance for periods less than one year is cumulative, not annualized. Returns reflect changes in share price and reinvestment of dividends and capital gains, if any. The table(s) do not reflect taxes shareholders might owe on any fund distributions or when they redeem their shares.
| 1 |
Class C share performance assumes a 1.00% CDSC applied when you sell shares within one year of purchase. |
| 2 |
Effective at the close of business on May 31, 2019, the FTSE EPRA Nareit Developed Index (Net) replaced the MSCI US REIT Index as the Fund’s primary benchmark because the Fund believes the FTSE EPRA Nareit Developed Index (Net), an index designed to track the performance of listed real estate companies and REITs (real estate investment trust) 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 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. |
5 |
Table of Contents
ADDITIONAL INFORMATION
The views expressed in this report reflect those of the portfolio managers as of the dates indicated. The managers’ views are subject to change at any time without notice based on changes in market or other conditions. References to specific securities or industries should not be regarded as investment advice. Because the Fund is actively managed, there is no assurance that they will continue to invest in the securities or industries mentioned.
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 Form N-PORT reports are available on the SEC’s website at www.sec.gov.
CFA® and Chartered Financial Analyst® are registered trademarks owned by the CFA Institute.
| 6
Table of Contents
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 August 1, 2019 through January 31, 2020. 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.
7 |
Table of Contents
| AEW GLOBAL FOCUSED REAL ESTATE FUND |
BEGINNING
ACCOUNT VALUE 8/1/2019 |
ENDING
ACCOUNT VALUE 1/31/2020 |
EXPENSES PAID
DURING PERIOD* 8/1/2019 – 1/31/2020 |
|||||||||
| Class A | ||||||||||||
| Actual | $1,000.00 | $1,083.80 | $6.04 | |||||||||
| Hypothetical (5% return before expenses) | $1,000.00 | $1,019.41 | $5.85 | |||||||||
| Class C | ||||||||||||
| Actual | $1,000.00 | $1,079.10 | $9.96 | |||||||||
| Hypothetical (5% return before expenses) | $1,000.00 | $1,015.63 | $9.65 | |||||||||
| Class N | ||||||||||||
| Actual | $1,000.00 | $1,085.30 | $4.47 | |||||||||
| Hypothetical (5% return before expenses) | $1,000.00 | $1,020.92 | $4.33 | |||||||||
| Class Y | ||||||||||||
| Actual | $1,000.00 | $1,084.50 | $4.73 | |||||||||
| Hypothetical (5% return before expenses) | $1,000.00 | $1,020.67 | $4.58 | |||||||||
| * |
Expenses are equal to the Fund’s annualized expense ratio (after waiver/reimbursement): 1.15%, 1.90%, 0.85% and 0.90% 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 (184), divided by 365 (to reflect the half-year period). |
| 8
Table of Contents
Portfolio of Investments – as of January 31, 2020
AEW Global Focused Real Estate Fund
| Shares | Description | Value (†) | ||||||
| Common Stocks — 96.8% of Net Assets | ||||||||
| Australia — 2.7% | ||||||||
| 135,965 | Goodman Group | $ | 1,346,041 | |||||
| 943,561 | Mirvac Group | 2,128,637 | ||||||
|
|
|
|||||||
| 3,474,678 | ||||||||
|
|
|
|||||||
| Canada — 4.7% | ||||||||
| 143,000 | Canadian Apartment Properties REIT | 6,115,914 | ||||||
|
|
|
|||||||
| France — 2.7% | ||||||||
| 13,389 | Gecina S.A. | 2,525,298 | ||||||
| 7,503 | Unibail-Rodamco-Westfield | 1,020,179 | ||||||
|
|
|
|||||||
| 3,545,477 | ||||||||
|
|
|
|||||||
| Germany — 4.0% | ||||||||
| 100,773 | Aroundtown S.A. | 954,000 | ||||||
| 30,679 | Deutsche Wohnen SE | 1,298,034 | ||||||
| 50,156 | Vonovia SE | 2,862,709 | ||||||
|
|
|
|||||||
| 5,114,743 | ||||||||
|
|
|
|||||||
| Hong Kong — 5.2% | ||||||||
| 164,000 | Hang Lung Properties Ltd. | 342,584 | ||||||
| 256,400 | Link REIT | 2,592,848 | ||||||
| 1,853,300 | New World Development Co. Ltd. | 2,315,017 | ||||||
| 1,067,800 | Sino Land Co. Ltd. | 1,455,237 | ||||||
|
|
|
|||||||
| 6,705,686 | ||||||||
|
|
|
|||||||
| Japan — 11.7% | ||||||||
| 238 | Daiwa Office Investment Corp. | 1,907,419 | ||||||
| 11,028 | Invesco Office J-REIT, Inc. | 2,348,662 | ||||||
| 172 | Kenedix Retail REIT Corp. | 426,210 | ||||||
| 518 | LaSalle Logiport REIT | 836,060 | ||||||
| 123,500 | Mitsubishi Estate Co. Ltd. | 2,418,681 | ||||||
| 125,400 | Mitsui Fudosan Co. Ltd. | 3,321,282 | ||||||
| 360 | Nippon Building Fund, Inc. | 2,916,252 | ||||||
| 12,800 | Nomura Real Estate Holdings, Inc. | 315,213 | ||||||
| 391 | Nomura Real Estate Master Fund, Inc. | 687,677 | ||||||
|
|
|
|||||||
| 15,177,456 | ||||||||
|
|
|
|||||||
| Netherlands — 0.4% | ||||||||
| 9,921 | NSI NV | 541,342 | ||||||
|
|
|
|||||||
| New Zealand — 0.8% | ||||||||
| 898,822 | Precinct Properties New Zealand Ltd. | 1,088,477 | ||||||
|
|
|
|||||||
| Singapore — 2.4% | ||||||||
| 403,200 | CapitaLand Commercial Trust | 606,811 | ||||||
| 371,700 | CapitaLand Ltd. | 979,494 | ||||||
| 1,305,400 | Lendlease Global Commercial REIT(a) | 880,088 | ||||||
| 474,800 | Mapletree Logistics Trust | 638,974 | ||||||
|
|
|
|||||||
| 3,105,367 | ||||||||
|
|
|
|||||||
| Spain — 1.2% | ||||||||
| 105,619 | Merlin Properties Socimi S.A. | 1,498,039 | ||||||
|
|
|
|||||||
See accompanying notes to financial statements.
9 |
Table of Contents
Portfolio of Investments – as of January 31, 2020
AEW Global Focused Real Estate Fund – (continued)
| Shares | Description | Value (†) | ||||||
| Sweden — 2.7% | ||||||||
| 97,820 | Fabege AB | $ | 1,676,795 | |||||
| 167,990 | Kungsleden AB | 1,790,376 | ||||||
|
|
|
|||||||
| 3,467,171 | ||||||||
|
|
|
|||||||
| United Kingdom — 5.2% | ||||||||
| 31,253 | Derwent London PLC | 1,693,316 | ||||||
| 276,381 | Grainger PLC | 1,079,123 | ||||||
| 126,660 | Hammerson PLC | 389,756 | ||||||
| 195,047 | Segro PLC | 2,342,105 | ||||||
| 78,105 | Workspace Group PLC | 1,254,154 | ||||||
|
|
|
|||||||
| 6,758,454 | ||||||||
|
|
|
|||||||
| United States — 53.1% | ||||||||
| 189,000 | Americold Realty Trust | 6,514,830 | ||||||
| 35,000 | AvalonBay Communities, Inc. | 7,584,150 | ||||||
| 37,700 | Boston Properties, Inc. | 5,404,295 | ||||||
| 34,100 | CyrusOne, Inc. | 2,074,985 | ||||||
| 108,500 | Douglas Emmett, Inc. | 4,502,750 | ||||||
| 177,000 | Duke Realty Corp. | 6,426,870 | ||||||
| 35,000 | Federal Realty Investment Trust | 4,375,700 | ||||||
| 167,000 | Healthcare Trust of America, Inc., Class A | 5,349,010 | ||||||
| 140,000 | Healthpeak Properties, Inc. | 5,038,600 | ||||||
| 207,000 | Invitation Homes, Inc. | 6,514,290 | ||||||
| 25,000 | Life Storage, Inc. | 2,829,500 | ||||||
| 9,700 | Simon Property Group, Inc. | 1,291,555 | ||||||
| 91,000 | STORE Capital Corp. | 3,571,750 | ||||||
| 270,000 | VICI Properties, Inc. | 7,236,000 | ||||||
|
|
|
|||||||
| 68,714,285 | ||||||||
|
|
|
|||||||
|
Total Common Stocks
(Identified Cost $110,378,431) |
125,307,089 | |||||||
|
|
|
|||||||
|
Principal
Amount |
||||||||
| Short-Term Investments — 2.2% | ||||||||
| $ | 2,918,970 | Tri-Party Repurchase Agreement with Fixed Income Clearing Corporation, dated 1/31/2020 at 0.900% to be repurchased at $2,919,189 on 2/03/2020 collateralized by $2,885,000 U.S. Treasury Note, 2.875% due 10/15/2021 valued at $2,979,057 including accrued interest (Note 2 of Notes to Financial Statements) (Identified Cost $2,918,970) | 2,918,970 | |||||
|
|
|
|||||||
|
Total Investments — 99.0%
(Identified Cost $113,297,401) |
128,226,059 | |||||||
| Other Assets Less Liabilities — 1.0% | 1,280,597 | |||||||
|
|
|
|||||||
| Net Assets — 100.0% | $ | 129,506,656 | ||||||
|
|
|
|||||||
| (†) | See Note 2 of Notes to Financial Statements. |
|
||||||
| (a) | Non-income producing security. |
|
||||||
| REITs | Real Estate Investment Trusts |
|
||||||
See accompanying notes to financial statements.
| 10
Table of Contents
Portfolio of Investments – as of January 31, 2020
AEW Global Focused Real Estate Fund – (continued)
Industry Summary at January 31, 2020
|
REITs – Diversified |
23.5 | % | ||
|
Real Estate Management & Development |
16.1 | |||
|
REITs – Apartments |
15.5 | |||
|
REITs – Office Property |
13.3 | |||
|
REITs – Health Care |
8.0 | |||
|
REITs – Warehouse/Industrials |
7.6 | |||
|
REITs – Shopping Centers |
6.8 | |||
|
REITs – Single Tenant |
2.8 | |||
|
REITs – Storage |
2.2 | |||
|
REITs – Regional Malls |
1.0 | |||
|
Short-Term Investments |
2.2 | |||
|
|
|
|||
|
Total Investments |
99.0 | |||
|
Other assets less liabilities |
1.0 | |||
|
|
|
|||
|
Net Assets |
100.0 | % | ||
|
|
|
Currency Exposure Summary at January 31, 2020
|
United States Dollar |
55.3 | % | ||
|
Japanese Yen |
11.7 | |||
|
Euro |
8.3 | |||
|
British Pound |
5.2 | |||
|
Hong Kong Dollar |
5.2 | |||
|
Canadian Dollar |
4.7 | |||
|
Australian Dollar |
2.7 | |||
|
Swedish Krona |
2.7 | |||
|
Singapore Dollar |
2.4 | |||
|
New Zealand Dollar |
0.8 | |||
|
|
|
|||
|
Total Investments |
99.0 | |||
|
Other assets less liabilities |
1.0 | |||
|
|
|
|||
|
Net Assets |
100.0 | % | ||
|
|
|
See accompanying notes to financial statements.
11 |
Table of Contents
Statement of Assets and Liabilities
January 31, 2020
|
ASSETS |
|
|||
|
Investments at cost |
$ | 113,297,401 | ||
|
Net unrealized appreciation |
14,928,658 | |||
|
|
|
|||
|
Investments at value |
128,226,059 | |||
|
Receivable for Fund shares sold |
158,359 | |||
|
Receivable for securities sold |
4,799,018 | |||
|
Dividends and interest receivable |
158,716 | |||
|
Tax reclaims receivable |
3,962 | |||
|
Prepaid expenses (Note 7) |
3 | |||
|
|
|
|||
|
TOTAL ASSETS |
133,346,117 | |||
|
|
|
|||
|
LIABILITIES |
|
|||
|
Payable for securities purchased |
3,325,029 | |||
|
Payable for Fund shares redeemed |
50,750 | |||
|
Foreign currency payable to custodian bank at value (identified cost $171,259) (Note 8) |
171,251 | |||
|
Management fees payable (Note 5) |
47,011 | |||
|
Deferred Trustees’ fees (Note 5) |
137,179 | |||
|
Administrative fees payable (Note 5) |
4,656 | |||
|
Payable to distributor (Note 5d) |
2,806 | |||
|
Other accounts payable and accrued expenses |
100,779 | |||
|
|
|
|||
|
TOTAL LIABILITIES |
3,839,461 | |||
|
|
|
|||
|
NET ASSETS |
$ | 129,506,656 | ||
|
|
|
|||
|
NET ASSETS CONSIST OF: |
|
|||
|
Paid-in capital |
$ | 114,647,757 | ||
|
Accumulated earnings |
14,858,899 | |||
|
|
|
|||
|
NET ASSETS |
$ | 129,506,656 | ||
|
|
|
|||
|
COMPUTATION OF NET ASSET VALUE AND OFFERING PRICE: |
|
|||
|
Class A shares: |
|
|||
|
Net assets |
$ | 33,863,842 | ||
|
|
|
|||
|
Shares of beneficial interest |
2,379,811 | |||
|
|
|
|||
|
Net asset value and redemption price per share |
$ | 14.23 | ||
|
|
|
|||
|
Offering price per share (100/94.25 of net asset value) (Note 1) |
$ | 15.10 | ||
|
|
|
|||
|
Class C shares: (redemption price per share is equal to net asset value less any applicable contingent deferred sales charge) (Note 1) |
||||
|
Net assets |
$ | 1,391,365 | ||
|
|
|
|||
|
Shares of beneficial interest |
97,164 | |||
|
|
|
|||
|
Net asset value and offering price per share |
$ | 14.32 | ||
|
|
|
|||
|
Class N shares: |
|
|||
|
Net assets |
$ | 10,318,607 | ||
|
|
|
|||
|
Shares of beneficial interest |
793,476 | |||
|
|
|
|||
|
Net asset value, offering and redemption price per share |
$ | 13.00 | ||
|
|
|
|||
|
Class Y shares: |
|
|||
|
Net assets |
$ | 83,932,842 | ||
|
|
|
|||
|
Shares of beneficial interest |
6,473,930 | |||
|
|
|
|||
|
Net asset value, offering and redemption price per share |
$ | 12.96 | ||
|
|
|
|||
See accompanying notes to financial statements.
| 12
Table of Contents
Statement of Operations
For the Year Ended January 31, 2020
See accompanying notes to financial statements.
13 |
Table of Contents
Statement of Changes in Net Assets
|
Year Ended
January 31, 2020 |
Year Ended
January 31, 2019 |
|||||||
|
FROM OPERATIONS: |
|
|||||||
|
Net investment income |
$ | 2,008,493 | $ | 2,465,715 | ||||
|
Net realized gain on investments and foreign currency transactions |
15,972,386 | 7,275,452 | ||||||
|
Net change in unrealized appreciation (depreciation) on investments and foreign currency translations |
(2,415,583 | ) | 2,058,032 | |||||
|
|
|
|
|
|||||
|
Net increase in net assets resulting from operations |
15,565,296 | 11,799,199 | ||||||
|
|
|
|
|
|||||
|
FROM DISTRIBUTIONS TO SHAREHOLDERS: |
|
|||||||
|
Class A |
(5,054,377 | ) | (3,178,207 | ) | ||||
|
Class C |
(203,308 | ) | (188,907 | ) | ||||
|
Class N |
(1,522,448 | ) | (609,544 | ) | ||||
|
Class Y |
(12,551,418 | ) | (7,039,510 | ) | ||||
|
|
|
|
|
|||||
|
Total distributions |
(19,331,551 | ) | (11,016,168 | ) | ||||
|
|
|
|
|
|||||
|
NET INCREASE (DECREASE) IN NET ASSETS FROM CAPITAL SHARE TRANSACTIONS (NOTE 11) |
12,496,453 | (21,486,790 | ) | |||||
|
|
|
|
|
|||||
|
Net increase (decrease) in net assets |
8,730,198 | (20,703,759 | ) | |||||
|
NET ASSETS |
|
|||||||
|
Beginning of the year |
120,776,458 | 141,480,217 | ||||||
|
|
|
|
|
|||||
|
End of the year |
$ | 129,506,656 | $ | 120,776,458 | ||||
|
|
|
|
|
|||||
See accompanying notes to financial statements.
| 14
Table of Contents
Financial Highlights
For a share outstanding throughout each period.
| (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) |
Had certain expenses not been waived/reimbursed during the period, total returns would have been lower. |
| (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) |
Effective June 1, 2019, the expense limit decreased from 1.25% to 1.15%. |
| (f) |
Effective July 1, 2017, the expense limit decreased from 1.35% to 1.25%. |
| (g) |
Effective May 1, 2015, the expense limit decreased from 1.40% to 1.35%. |
| (h) |
The variation in the Fund’s turnover rate from the year ended January 31, 2019 to the year ended January 31, 2020 was primarily due to a change in the investment strategy of the Fund. See Note 1 of Notes to Financial Statements. |
See accompanying notes to financial statements.
15 |
Table of Contents
Financial Highlights (continued)
For a share outstanding throughout each period.
| (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) |
Had certain expenses not been waived/reimbursed during the period, total returns would have been lower. |
| (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) |
Effective June 1, 2019, the expense limit decreased from 2.00% to 1.90%. |
| (f) |
Effective July 1, 2017, the expense limit decreased from 2.10% to 2.00%. |
| (g) |
Effective May 1, 2015, the expense limit decreased from 2.15% to 2.10%. |
| (h) |
The variation in the Fund’s turnover rate from the year ended January 31, 2019 to the year ended January 31, 2020 was primarily due to a change in the investment strategy of the Fund. See Note 1 of Notes to Financial Statements. |
See accompanying notes to financial statements.
| 16
Table of Contents
Financial Highlights (continued)
For a share outstanding throughout each period.
| (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) |
Had certain expenses not been waived/reimbursed during the period, total returns would have been lower. |
| (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) |
Effective June 1, 2019, the expense limit decreased from 0.95% to 0.85%. |
| (f) |
Effective July 1, 2017, the expense limit decreased from 1.05% to 0.95%. |
| (g) |
Effective May 1, 2015, the expense limit decreased from 1.10% to 1.05%. |
| (h) |
The variation in the Fund’s turnover rate from the year ended January 31, 2019 to the year ended January 31, 2020 was primarily due to a change in the investment strategy of the Fund. See Note 1 of Notes to Financial Statements. |
See accompanying notes to financial statements.
17 |
Table of Contents
Financial Highlights (continued)
For a share outstanding throughout each period.
| (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) |
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. |
| (d) |
Effective June 1, 2019, the expense limit decreased from 1.00% to 0.90%. |
| (e) |
Effective July 1, 2017, the expense limit decreased from 1.10% to 1.00%. |
| (f) |
Effective May 1, 2015, the expense limit decreased from 1.15% to 1.10%. |
| (g) |
The variation in the Fund’s turnover rate from the year ended January 31, 2019 to the year ended January 31, 2020 was primarily due to a change in the investment strategy of the Fund. See Note 1 of Notes to Financial Statements. |
See accompanying notes to financial statements.
| 18
Table of Contents
January 31, 2020
1. Organization. Natixis Funds Trust IV (the “Trust”) is organized as a Massachusetts business trust. The Trust is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as an open-end management investment company. The Declaration of Trust permits the Board of Trustees to authorize the issuance of an unlimited number of shares of the Trust in multiple series. The financial statements for certain funds of the Trust are presented in separate reports. Information presented in this report pertains to AEW Global Focused Real Estate Fund (the “Fund”).
At close of business on May 31, 2019, the Fund changed its name and investment strategy.
The Fund is a diversified investment company.
The Fund offers Class A, Class C, Class N and Class Y shares.
Class A shares are sold with a maximum front-end sales charge of 5.75%. Class C shares do not pay a front-end sales charge, pay higher Rule 12b-1 fees than Class A shares for ten years (at which point they automatically convert to Class A shares) and may be subject to a contingent deferred sales charge (“CDSC”) of 1.00% if those shares are redeemed within one year of acquisition, except for reinvested distributions. Class N and Class Y shares do not pay a front-end sales charge, a CDSC or Rule 12b-1 fees. Class N shares are offered with an initial minimum investment of $1,000,000. Class Y shares are offered with an initial minimum investment of $100,000. Certain categories of investors are exempted from the minimum investment amounts for Class N and Class Y as outlined in the Fund’s prospectus.
Most expenses can be directly attributed to a Fund. Expenses which cannot be directly attributed to a Fund are generally apportioned based on the relative net assets of each of the funds in Natixis Funds Trust I, Natixis Funds Trust II, Natixis Funds Trust IV and Gateway Trust (“Natixis Funds Trusts”), Loomis Sayles Funds I and Loomis Sayles Funds II (“Loomis Sayles Funds Trusts”) and Natixis ETF Trust. Expenses of the Fund are borne pro rata by the holders of each class of shares, except that each class bears expenses unique to that class (such as the Rule 12b-1 fees applicable to Class A and Class C), and transfer agent fees are borne collectively for Class A, Class C and Class Y and individually for Class N. In addition, each class votes as a class only with respect to its own Rule 12b-1 Plan. Shares of each class would receive their pro rata share of the net assets of the Fund if the Fund were liquidated. The Trustees approve separate distributions from net investment income on each class of shares.
2. Significant Accounting Policies. The following is a summary of significant accounting policies consistently followed by the Fund in the preparation of its financial statements. The Fund’s financial statements follow the accounting and reporting guidelines provided for investment companies and are prepared in accordance with accounting principles generally accepted in the United States of America which require the use of management estimates that affect the reported amounts and
19 |
Table of Contents
Notes to Financial Statements (continued)
January 31, 2020
disclosures in the financial statements. Actual results could differ from those estimates. Management has evaluated the events and transactions subsequent to year-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.
a. Valuation. Fund securities and other investments are valued at market value based on market quotations obtained or determined by independent pricing services recommended by the adviser and approved by the Board of Trustees. Fund securities and other investments for which market quotations are not readily available are valued at fair value as determined in good faith by the adviser pursuant to procedures approved by the Board of Trustees, as described below. Market value is determined as follows:
Listed equity securities (including shares of closed-end investment companies and exchange-traded funds) are valued at the last sale price quoted on the exchange where they are traded most extensively or, if there is no reported sale during the day, the closing bid quotation as reported by an independent pricing service. Securities traded on the NASDAQ Global Select Market, NASDAQ Global Market and NASDAQ Capital Market are valued at the NASDAQ Official Closing Price (“NOCP”), or if lacking an NOCP, at the most recent bid quotations on the applicable NASDAQ Market. Unlisted equity securities (except unlisted preferred equity securities) are valued at the last sale price quoted in the market where they are traded most extensively or, if there is no reported sale during the day, the closing bid quotation as reported by an independent pricing service. If there is no last sale price or closing bid quotation available, unlisted equity securities will be valued using evaluated bids furnished by an independent pricing service, if available. In some foreign markets, an official close price and a last sale price may be available from the foreign exchange or market. In those cases, the official close price is used. Debt securities and unlisted preferred equity securities are valued based on evaluated bids furnished to the Fund by an independent pricing service or bid prices obtained from broker-dealers. Broker-dealer bid prices may be used to value debt and unlisted equity securities where an independent pricing service is unable to price a security or where an independent pricing service does not provide a reliable price for the security.
Fund securities and other investments for which market quotations are not readily available are valued at fair value as determined in good faith by the adviser pursuant to procedures approved by the Board of Trustees. The Fund may also value securities and other investments at fair value in other circumstances such as when extraordinary events occur after the close of a foreign market but prior to the close of the New York Stock Exchange. This may include situations relating to a single issuer (such as a declaration of bankruptcy or a delisting of the issuer’s security from the primary market on which it has traded) as well as events affecting the securities markets in general
| 20
Table of Contents
Notes to Financial Statements (continued)
January 31, 2020
(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 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 January 31, 2020, securities held by Fund were fair valued as follows:
|
Equity
|
Percentage of Net Assets |
|
|
$44,564,541 |
34.4% |
| 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 the ex-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 calendar year-end amounts of ordinary income, capital gains, and return of capital included in dividends received from the Fund’s investments in real estate investment trusts (“REITs”) are reported to the Fund after the end of the calendar year; accordingly, the Fund estimates these amounts for accounting purposes until the characterization of REIT distributions is reported to the Fund after the end of the calendar year. Estimates for the period from January 1 through January 31, 2020 are included in the Statement of Operations. Estimates are based on the most recent REIT distribution information available. Interest income is increased by the accretion of discount and decreased by the amortization of premium. In determining net gain or loss on securities sold, the cost of securities has been determined on an identified cost basis. Investment income, non-class-specific expenses and realized and unrealized gains and losses are allocated on a pro rata basis to each class based on the relative net assets of each class to the total net assets of the Fund.
21 |
Table of Contents
Notes to Financial Statements (continued)
January 31, 2020
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.
Net realized foreign exchange gains or losses arise from sales of foreign currency, changes in exchange rates between the trade and settlement dates on securities transactions and the difference between the amounts of dividends, interest and foreign withholding taxes recorded on the Fund’s books and the U.S. dollar equivalent of the amounts actually received or paid. Net unrealized foreign exchange gains or losses arise from changes in the value of assets and liabilities, other than investment securities, as of the end of the fiscal period, resulting from changes in exchange rates. Net realized foreign exchange gains or losses and the net change in unrealized foreign exchange gains or losses are disclosed in the 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 January 31, 2020 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 twelve 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.
| 22
Table of Contents
Notes to Financial Statements (continued)
January 31, 2020
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 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 the ex-dividend date. The timing and characterization of certain income and capital gain distributions are determined annually in accordance with federal tax regulations, which may differ from accounting principles generally accepted in the United States of America. When the Fund identifies the character of distributions paid by REITs in the previous calendar year, certain distributions to Fund shareholders may be redesignated as capital gain distributions or, if in excess of taxable income, as a return of capital. Permanent differences are primarily due to differing treatments for book and tax purposes of items such as return of capital distributions received. Permanent book and tax basis differences relating to foreign currency gains and losses, distribution re-designations, passive foreign investment company adjustments and return of capital and capital gain distributions received 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, passive foreign investment company adjustments 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.
23 |
Table of Contents
Notes to Financial Statements (continued)
January 31, 2020
The tax characterization of distributions is determined on an annual basis. The tax character of distributions paid to shareholders during the years ended January 31, 2020 and 2019 were as follows:
|
2020 Distributions Paid From: |
2019 Distributions Paid From: | |||||||||||||||||||
|
Ordinary
|
Long-Term
|
Total |
Ordinary
|
Long-Term
|
Total |
|||||||||||||||
| $5,390,847 | $ | 13,940,704 | $ | 19,331,551 | $ | 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 in per-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, 2020, the components of distributable earnings on a tax basis were as follows:
|
Undistributed ordinary income |
$ | 182,917 | ||
|
Undistributed long-term capital gains |
1,557,625 | |||
|
|
|
|||
|
Total undistributed earnings |
1,740,542 | |||
|
|
|
|||
|
Unrealized appreciation |
13,255,536 | |||
|
|
|
|||
|
Total accumulated earnings |
$ | 14,996,078 | ||
|
|
|
As of January 31, 2020, the tax cost of investments and unrealized appreciation (depreciation) on a federal tax basis were as follows:
|
Federal tax cost |
$ | 114,969,346 | ||
|
|
|
|||
|
Gross tax appreciation |
$ | 15,156,013 | ||
|
Gross tax depreciation |
(1,899,300 | ) | ||
|
|
|
|||
|
Net tax appreciation |
$ | 13,256,713 | ||
|
|
|
The difference between these amounts and those reported in the components of distributable earnings is primarily attributable to foreign currency mark-to-market.
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 are tri-party arrangements whereby the collateral is held in a segregated account for the benefit of the Fund and on behalf of
| 24
Table of Contents
Notes to Financial Statements (continued)
January 31, 2020
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 January 31, 2020, 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 for non-U.S. equities; and at least 100% of the market value (including accrued interest) of loaned securities for U.S. Government securities, sovereign debt issued by non-U.S. Governments and non-U.S. corporate debt. In the event that the market value of the collateral falls below the required percentages described above, the borrower will deliver additional collateral on the next business day. As with other extensions of credit, the Fund may bear the risk of loss with respect to the investment of the collateral. The Fund invests cash collateral in short-term investments, a portion of the income from which is remitted to the borrowers and the remainder allocated between the Fund and State Street Bank as lending agent.
For the year ended January 31, 2020, 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.
i. New Accounting Pronouncement. In August 2018, the Financial Accounting Standards Board issued Accounting Standards Update 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework — Changes to the Disclosure Requirements for Fair Value Measurement (“ASU 2018-13”). The update introduces new fair value disclosure requirements, eliminates some prior fair value disclosure requirements, and modifies certain existing fair value disclosure requirements. ASU 2018-13 will be effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Management has evaluated the impact of the
25 |
Table of Contents
Notes to Financial Statements (continued)
January 31, 2020
adoption of ASU 2018-13 and will incorporate required disclosure updates in the Fund’s semiannual financial statements as of July 31, 2020.
3. Fair Value Measurements. In accordance with accounting standards related to fair value measurements and disclosures, the Fund has categorized the inputs utilized in determining the value of the Fund’s assets or liabilities. These inputs are summarized in the three broad levels listed below:
| • |
Level 1 – quoted prices in active markets for identical assets or liabilities; |
| • |
Level 2 – prices determined using other significant inputs that are observable either directly, or indirectly through corroboration with observable market data (which could include quoted prices for similar assets or liabilities, interest rates, credit risk, etc.); and |
| • |
Level 3 – prices determined using significant unobservable inputs when quoted prices or observable inputs are unavailable such as when there is little or no market activity for an asset or liability (unobservable inputs reflect the Fund’s own assumptions in determining the fair value of assets or liabilities and would be based on the best information available). |
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.
The following is a summary of the inputs used to value the Fund’s investments as of January 31, 2020, at value:
Asset Valuation Inputs
|
Description |
Level 1 |
Level 2 |
Level 3 |
Total |
||||||||||||
|
Common Stocks |
||||||||||||||||
|
Australia |
$ | — | $ | 3,474,678 | $ | — | $ | 3,474,678 | ||||||||
|
France |
1,020,179 | 2,525,298 | — | 3,545,477 | ||||||||||||
|
Germany |
— | 5,114,743 | — | 5,114,743 | ||||||||||||
|
Hong Kong |
— | 6,705,686 | — | 6,705,686 | ||||||||||||
|
Japan |
426,210 | 14,751,246 | — | 15,177,456 | ||||||||||||
|
New Zealand |
— | 1,088,477 | — | 1,088,477 | ||||||||||||
|
Singapore |
880,088 | 2,225,279 | — | 3,105,367 | ||||||||||||
|
Spain |
— | 1,498,039 | — | 1,498,039 | ||||||||||||
|
Sweden |
1,790,376 | 1,676,795 | — | 3,467,171 | ||||||||||||
|
United Kingdom |
1,254,154 | 5,504,300 | — | 6,758,454 | ||||||||||||
|
All Other Common Stocks(a) |
75,371,541 | — | — | 75,371,541 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Total Common Stocks |
$ | 80,742,548 | $ | 44,564,541 | $ | — | $ | 125,307,089 | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Short-Term Investments |
— | 2,918,970 | — | 2,918,970 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Total |
$ | 80,742,548 | $ | 47,483,511 | $ | — | $ | 128,226,059 | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (a) |
Details of the major categories of the Fund’s investments are reflected within the Portfolio of Investments. |
| 26
Table of Contents
Notes to Financial Statements (continued)
January 31, 2020
For the year ended January 31, 2020, there were no transfers among Levels 1, 2 and 3.
4. Purchases and Sales of Securities. For the year ended January 31, 2020, purchases and sales of securities (excluding short-term investments) were $130,288,294 and $137,458,499 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, LLC (“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 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 January 31, 2020, 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% | |||||||||
27 |
Table of Contents
Notes to Financial Statements (continued)
January 31, 2020
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 year ended January 31, 2020, the management fees and waiver of management fees for the Fund were as follows:
|
Gross
|
Contractual
|
Net
|
Percentage of Average
Daily Net Assets |
|||||||||||||||
|
Gross |
Net |
|||||||||||||||||
| $ | 946,821 | $ | 382,467 | $ | 564,354 | 0.77 | % | 0.46 | % | |||||||||
| 1 |
Management fee waiver is subject to possible recovery until January 31, 2021. |
No expenses were recovered during the year ended January 31, 2020 under the terms of the expense limitation agreement.
b. Service and Distribution Fees. Natixis Distribution, L.P. (“Natixis Distribution”), which is a wholly-owned subsidiary of Natixis, has entered into a distribution agreement with the Trust. Pursuant to this agreement, Natixis Distribution serves as principal underwriter of the Fund.
Pursuant to Rule 12b-1 under the 1940 Act, the Trust has adopted a Service Plan relating to the Fund’s Class A shares (the “Class A Plan”) and a Distribution and Service Plan relating to the Fund’s Class C shares (the “Class C Plan”).
Under the Class A Plan, the Fund pays Natixis Distribution a monthly service fee at an annual rate not to exceed 0.25% of the average daily net assets attributable to the Fund’s Class A shares, as reimbursement for expenses incurred by Natixis Distribution in providing personal services to investors in Class A shares and/or the maintenance of shareholder accounts.
Under the Class C Plan, the Fund pays Natixis Distribution a monthly service fee at an annual rate not to exceed 0.25% of the average daily net assets attributable to the Fund’s Class C shares, as compensation for services provided by Natixis Distribution in providing personal services to investors in Class C shares and/or the maintenance of shareholder accounts.
Also under the Class C Plan, the Fund pays Natixis Distribution a monthly distribution fee at the annual rate of 0.75% of the average daily net assets attributable to the Fund’s Class C shares, as compensation for services provided by Natixis Distribution in connection with the marketing or sale of Class C shares.
| 28
Table of Contents
Notes to Financial Statements (continued)
January 31, 2020
For the year ended January 31, 2020, the service and distribution fees for the Fund were as follows:
| Service Fees |
Distribution Fees |
|||
|
Class A |
Class C |
Class C |
||
| $91,207 | $4,243 | $12,730 | ||
c. Administrative Fees. Natixis Advisors, L.P. (“Natixis Advisors”) provides certain administrative services for the Fund and contracts with State Street Bank to serve as sub-administrator. Natixis Advisors is a wholly-owned subsidiary of Natixis. Pursuant to an agreement among Natixis Funds Trusts, Loomis Sayles Funds Trusts, Natixis ETF Trust and Natixis Advisors, effective July 1, 2019, the Fund pays Natixis Advisors monthly its pro 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, the Fund paid Natixis Advisors monthly its pro rata portion of fees equal to an annual rate of 0.0575% of the first $15 billion of the average daily net assets of the Natixis Funds Trusts, Loomis Sayles Funds Trusts and Natixis ETF Trust, 0.0500% of the next $15 billion, 0.0400% of the next $30 billion, 0.0275% 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 as sub-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 in sub-administrative fees discussed above. The waiver was in effect through June 30, 2019.
For the year ended January 31, 2020, the administrative fees were as follows:
|
Gross
|
Waiver of
|
Net
|
||
| $54,283 | $519 | $53,764 |
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
29 |
Table of Contents
Notes to Financial Statements (continued)
January 31, 2020
compensate the intermediaries for providing those services. Intermediaries transact with the Fund primarily through the use of omnibus accounts on behalf of their customers who hold positions in the Fund. These services would have been provided by the Fund’s transfer agent and other service providers if the shareholders’ accounts were maintained directly at the Fund’s transfer agent. Accordingly, the Fund has agreed to reimburse Natixis Distribution for all or a portion of the servicing fees paid to these intermediaries. The reimbursement amounts (sub-transfer agent fees) paid to Natixis Distribution are subject to a current per-account equivalent fee limit approved by the Fund’s Board of Trustees, 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 year ended January 31, 2020, the sub-transfer agent fees (which are reflected in transfer agent fees and expenses in the Statement of Operations) for the Fund were $173,064.
As of January 31, 2020, the Fund owes Natixis Distribution $2,806 in reimbursements for sub-transfer agent fees (which are reflected in the Statement of Assets and Liabilities as payable to distributor).
Sub-transfer agent fees attributable to Class A, Class C and Class Y are allocated on a pro rata basis to each class based on the relative net assets of each class to the total net assets of those classes.
e. Commissions. Commissions (including CDSCs) on Fund shares retained by Natixis Distribution during the year ended January 31, 2020 amounted to $1,927.
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 $369,000. 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 $199,000. 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 $20,000. 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
| 30
Table of Contents
Notes to Financial Statements (continued)
January 31, 2020
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.
Prior to January 1, 2020, the Chairperson of the Board received a retainer fee at the annual rate of $360,000 and each Independent Trustee (other than the Chairperson) received, in the aggregate, a retainer fee at the annual rate of $190,000, and the chairperson of the Governance Committee received an additional retainer fee at the annual rate of $15,000. All other Trustee fees remained unchanged.
A deferred compensation plan (the “Plan”) is available to the Trustees on a voluntary basis. Deferred amounts remain in the Fund until distributed in accordance with the provisions of the Plan. The value of a participating Trustee’s deferral account is based on theoretical investments of deferred amounts, on the normal payment dates, in certain funds of the Natixis Funds Trusts, Loomis Sayles Funds Trusts and Natixis ETF Trust as designated by the participating Trustees. Changes in the value of participants’ deferral accounts are allocated pro rata among the funds in the Natixis Funds Trusts, Loomis Sayles Funds Trusts and Natixis ETF Trust, and are normally reflected as Trustees’ fees and expenses in the Statement of Operations. The portions of the accrued obligations allocated to the Fund under the Plan are reflected as Deferred Trustees’ fees in the Statement of Assets and Liabilities.
Certain officers and employees of Natixis Advisors and its affiliates are also officers and/or Trustees of the Trust.
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 year ended January 31, 2020, Natixis Advisors reimbursed the Fund $1,026 for transfer agency expenses related to Class N shares.
h. Payment by Affiliates. For the year ended January 31, 2020, AEW and Natixis reimbursed the Fund $94,912 for transaction costs incurred in conjunction with a strategy change (see Note 1 of Notes to Financial Statements). 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 a pro rata basis to each class based on the relative net assets of each class to the total net assets of those classes. Transfer agent fees and expenses attributable to Class N are allocated to Class N.
31 |
Table of Contents
Notes to Financial Statements (continued)
January 31, 2020
For the year ended January 31, 2020, the Fund incurred the following class-specific transfer agent fees and expenses (including sub-transfer agent fees, where applicable):
|
Class A |
Class C |
Class N |
Class Y |
|||||||||||||
|
Transfer Agent Fees and Expenses |
$ | 66,017 | $ | 3,094 | $ | 1,026 | $ | 137,949 | ||||||||
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 year ended January 31, 2020, the Fund had no borrowings under this agreement.
8. Payable to Custodian Bank. The Fund’s custodian bank provides overdraft protection to the Fund in the event of a cash shortfall. Cash overdrafts bear interest at various rates depending on the type of currency overdrawn. At January 31, 2020, the Fund had payables, at value, of $171,251 to the custodian bank for foreign currency overdrafts that bear interest at a rate per annum equal to a flat rate of 5.25%.
9. Concentration of Risk. The Fund concentrates its investments in real estate securities, including REITs. A fund with a concentrated portfolio is vulnerable to the risks of the industry in which it invests and is subject to greater risks and market fluctuations than funds investing in a broader range of industries. Real estate securities are susceptible to the risks associated with direct ownership of real estate such as declining property values, increases in property taxes, operating expenses, interest rates or competition, zoning changes and losses from casualty and condemnation.
The Fund’s investments in foreign securities may be subject to greater political, economic, environmental, credit/counterparty and information risks. The Fund’s investments in foreign securities also are subject to foreign currency fluctuations and other foreign currency-related risks. Foreign securities may be subject to higher volatility than U.S. securities, varying degrees of regulation and limited liquidity.
| 32
Table of Contents
Notes to Financial Statements (continued)
January 31, 2020
10. Concentration of Ownership. From time to time, a Fund may have a concentration of one or more accounts constituting a significant percentage of shares outstanding. Investment activities by holders of such accounts could have material impacts on the Fund. As of January 31, 2020, 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%
|
Percentage of
|
|
| 3 | 27.92% |
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 a non-discretionary customer are included in the table above. For other omnibus accounts, the Fund does not have information on the individual shareholder accounts underlying the omnibus accounts; therefore, there could be other 5% shareholders in addition to those disclosed in the table above.
11. Capital Shares. The Fund may issue an unlimited number of shares of beneficial interest without par value. Transactions in capital shares were as follows:
|
Year Ended
January 31, 2020 |
Year Ended
January 31, 2019 |
|||||||||||||||
| Shares | Amount | Shares | Amount | |||||||||||||
| Class A | ||||||||||||||||
|
Issued from the sale of shares |
319,793 | $ | 4,789,208 | 526,863 | $ | 7,517,660 | ||||||||||
|
Issued in connection with the reinvestment of distributions |
331,314 | 4,591,537 | 201,730 | 2,730,701 | ||||||||||||
|
Redeemed |
(927,512 | ) | (13,834,719 | ) | (914,593 | ) | (13,021,531 | ) | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Net change |
(276,405 | ) | $ | (4,453,974 | ) | (186,000 | ) | $ | (2,773,170 | ) | ||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Class C | ||||||||||||||||
|
Issued from the sale of shares |
22,418 | $ | 338,924 | 16,412 | $ | 230,189 | ||||||||||
|
Issued in connection with the reinvestment of distributions |
11,152 | 155,279 | 11,125 | 149,205 | ||||||||||||
|
Redeemed |
(68,812 | ) | (1,043,756 | ) | (202,751 | ) | (2,915,664 | ) | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Net change |
(35,242 | ) | $ | (549,553 | ) | (175,214 | ) | $ | (2,536,270 | ) | ||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Class N | ||||||||||||||||
|
Issued from the sale of shares |
327,855 | $ | 4,634,832 | 56,043 | $ | 737,042 | ||||||||||
|
Issued in connection with the reinvestment of distributions |
120,236 | 1,520,839 | 48,507 | 609,543 | ||||||||||||
|
Redeemed |
(159,161 | ) | (2,194,099 | ) | (107,938 | ) | (1,433,215 | ) | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Net change |
288,930 | $ | 3,961,572 | (3,388 | ) | $ | (86,630 | ) | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
33 |
Table of Contents
Notes to Financial Statements (continued)
January 31, 2020
11. Capital Shares (continued).
|
Year Ended
January 31, 2020 |
Year Ended
January 31, 2019 |
|||||||||||||||
| Shares | Amount | Shares | Amount | |||||||||||||
| Class Y | ||||||||||||||||
|
Issued from the sale of shares |
2,660,649 | $ | 37,412,704 | 969,223 | $ | 12,626,402 | ||||||||||
|
Issued in connection with the reinvestment of distributions |
958,247 | 12,105,884 | 509,525 | 6,385,886 | ||||||||||||
|
Redeemed |
(2,563,936 | ) | (35,980,180 | ) | (2,656,842 | ) | (35,103,008 | ) | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Net change |
1,054,960 | $ | 13,538,408 | (1,178,094 | ) | $ | (16,090,720 | ) | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Increase (decrease) from capital share transactions |
1,032,243 | $ | 12,496,453 | (1,542,696 | ) | $ | (21,486,790 | ) | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
12. Subsequent Events. Subsequent to January 31, 2020, global markets have experienced periods of high volatility triggered by the rapidly evolving public health emergency known as coronavirus (“COVID-19”). As the situation continues to unfold, the extent and duration of the impact that the COVID-19 outbreak may have on financial markets and the economy as a whole remains highly uncertain. If the effects of the COVID-19 outbreak on financial markets and the economy continue for an extended period of time, the Funds’ future financial and investment results may be adversely affected.
| 34
Table of Contents
Report of Independent Registered Public Accounting Firm
To the Board of Trustees of Natixis Funds Trust IV and Shareholders of AEW Global Focused Real Estate Fund
Opinion on the Financial Statements
We have audited the accompanying statement of assets and liabilities, including the portfolio of investments, of AEW Global Focused Real Estate Fund (one of the funds constituting Natixis Funds Trust IV, referred to hereafter as the “Fund”) as of January 31, 2020, the related statement of operations for the year ended January 31, 2020, the statement of changes in net assets for each of the two years in the period ended January 31, 2020, including the related notes, and the financial highlights for each of the five years in the period ended January 31, 2020 (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund as of January 31, 2020, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended January 31, 2020 and the financial highlights for each of the five years in the period ended January 31, 2020 in conformity with accounting principles generally accepted in the United States of America.
Basis for Opinion
These financial statements are the responsibility of the Fund’s management. Our responsibility is to express an opinion on the Fund’s financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Fund in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.
Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of January 31, 2020 by correspondence with the custodian and brokers; when replies
35 |
Table of Contents
Report of Independent Registered Public Accounting Firm
were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.
PricewaterhouseCoopers LLP
Boston, Massachusetts
March 23, 2020
We have served as the auditor of one or more of the investment companies in the Natixis Investment Company Complex since at least 1995. We have not been able to determine the specific year we began serving as auditor.
| 36
Table of Contents
2020 U.S. Tax Distribution Information to Shareholders (Unaudited)
Qualified Dividend Income. For the fiscal year ended January 31, 2020, 3.69% of the ordinary income dividends paid by the Fund are considered qualified dividend income eligible for reduced tax rates. These lower rates range from 0% to 20% depending on an individual’s tax bracket. Complete information will be reported in conjunction with Form 1099-DIV.
Capital Gains Distributions. Pursuant to Internal Revenue Section 852(b), the Fund designates as a capital gain dividend the amounts reflected below for the fiscal year ended January 31, 2020:
$13,858,068 subject to a long-term capital gains tax rate of not greater than 20%, and $82,636 subject to a long-term capital gains tax rate of not greater than 25%.
Qualified Business Income Deduction. For the fiscal year ended January 31, 2020, 31.65% of the ordinary income dividends paid by the Fund are eligible for the Qualified Business Income deduction.
37 |
Table of Contents
Trustee and Officer Information
The tables below provide certain information regarding the trustees and officers of Natixis Trust IV (the “Trust”). Unless otherwise indicated, the address of all persons below is 888 Boylston Street, Suite 800, Boston, MA 02199-8197. The Fund’s Statement of Additional Information includes additional information about the trustees of the Trust and is available by calling Natixis Funds at 800-225-5478.
|
Name and Year of Birth |
Position(s) Held
of Office1 |
Principal
5 Years |
Number of
5 Years |
Experience,
Membership |
||||
| INDEPENDENT TRUSTEES | ||||||||
|
Kenneth A. Drucker (1945) |
Chairperson of the Board of Trustees since January 2017 Trustee since 2008 Ex Officio member of the Audit Committee, Contract Review Committee and Governance Committee |
Retired |
51 None |
Significant experience on the Board and on the boards of other business organizations (including at investment companies); executive experience (including as treasurer of an aerospace, automotive, and metal manufacturing corporation) | ||||
|
Edmond J. English (1953) |
Trustee since 2013 Chairperson of the Governance Committee and Audit Committee Member |
Executive Chairman of Bob’s Discount Furniture (retail) |
51 Director, Burlington Stores, Inc. (retail) |
Significant experience on the Board and on the boards of other business organizations (including retail companies and a bank); executive experience (including at a retail company) | ||||
| 38
Table of Contents
Trustee and Officer Information
|
Name and Year of Birth |
Position(s) Held
of Office1 |
Principal
5 Years |
Number of
5 Years |
Experience,
Membership |
||||
|
INDEPENDENT TRUSTEES continued |
||||||||
|
Richard A. Goglia (1951) |
Trustee since 2015 Contract Review Committee Member and Governance Committee Member |
Retired; formerly Vice President and Treasurer of Raytheon Company (defense) |
51 None |
Significant experience on the Board and executive experience (including his role as vice president and treasurer of a defense company and experience at a financial services company) | ||||
|
Wendell J. Knox (1948) |
Trustee since 2009 Chairperson of the Contract Review Committee |
Director of Abt Associates Inc. (research and consulting) |
51 Director, The Hanover Insurance Group (property and casualty insurance); formerly, Director, Eastern Bank (bank) |
Significant experience on the Board and on the boards of other business organizations (including at a bank and at a property and casualty insurance firm); executive experience (including roles as president and chief executive officer of a research and consulting company) | ||||
39 |
Table of Contents
Trustee and Officer Information
|
Name and Year of Birth |
Position(s) Held
of Office1 |
Principal
5 Years |
Number of
5 Years |
Experience,
Membership |
||||
|
INDEPENDENT TRUSTEES continued |
||||||||
|
Martin T. Meehan (1956) |
Trustee since 2012 Audit Committee Member |
President, University of Massachusetts; formerly, Chancellor and faculty member, University of Massachusetts Lowell |
51 None |
Significant experience on the Board and on the boards of other business organizations; experience as President of the University of Massachusetts; government experience (including as a member of the U.S. House of Representatives); academic experience | ||||
|
Maureen B. Mitchell (1951) |
Trustee since 2017 Contract Review Committee Member and Governance Committee Member |
Retired; formerly President, Global Sales and Marketing, GE Asset Management, Inc. (financial services) |
51 Director, Sterling Bancorp (bank) |
Experience on the Board; financial services industry and executive experience (including role as president of global sales and marketing at a financial services company) | ||||
| 40
Table of Contents
Trustee and Officer Information
|
Name and Year of Birth |
Position(s) Held
of Office1 |
Principal
5 Years |
Number of
5 Years |
Experience,
Membership |
||||
|
INDEPENDENT TRUSTEES continued |
||||||||
|
James P. Palermo (1955) |
Trustee since 2016 Contract Review Committee Member |
Founding Partner, Breton Capital Management, LLC (private equity); Partner, STEP Partners, LLC (private equity) |
51 Director, FutureFuel.io (chemicals and biofuels) |
Experience on the Board; financial services industry and executive experience (including roles as chief executive officer of client management and asset servicing for a banking and financial services company) | ||||
|
Erik R. Sirri (1958) |
Trustee since 2009 Chairperson of the Audit Committee |
Professor of Finance at Babson College |
51 None |
Significant experience on the Board; experience as Director of the Division of Trading and Markets at the Securities and Exchange Commission; academic experience; training as an economist | ||||
|
Peter J. Smail (1952) |
Trustee since 2009 Audit Committee Member and Governance Committee Member |
Retired |
51 None |
Significant experience on the Board; mutual fund industry and executive experience (including roles as president and chief executive officer for an investment adviser) | ||||
41 |
Table of Contents
Trustee and Officer Information
|
Name and Year of Birth |
Position(s) Held
of Office1 |
Principal
5 Years |
Number of
5 Years |
Experience,
Membership |
||||
|
INDEPENDENT TRUSTEES continued |
||||||||
|
Kirk A. Sykes (1958) |
Trustee since 2019 Contract Review Committee Member |
Managing Director of Accordia Partners, LLC (real estate development); President of Primary Corporation (real estate development); Managing Principal of Merrick Capital Partners (infrastructure finance); formerly, President of Urban Strategy America Fund (real estate fund manager) |
51 Trustee, Eastern Bank (bank); formerly Director, Ares Commercial Real Estate Corporation (real estate investment trust) |
Experience on the Board and significant experience on the boards of other business organizations (including real estate companies and banks) | ||||
|
Cynthia L. Walker (1956) |
Trustee since 2005 Audit Committee Member and Governance Committee Member |
Deputy Dean for Finance and Administration, Yale University School of Medicine |
51 None |
Significant experience on the Board; executive experience in a variety of academic organizations (including roles as dean for finance and administration) | ||||
| 42
Table of Contents
Trustee and Officer Information
|
Name and Year of
|
Position(s) Held
of Office1 |
Principal
5 Years |
Number of
5 Years |
Experience,
Membership |
||||
| INTERESTED TRUSTEES | ||||||||
|
Kevin P. Charleston3 (1965) One Financial Center Boston, MA 02111 |
Trustee since 2015 | President, Chief Executive Officer and Chairman of the Board of Directors; formerly, Chief Financial Officer, Loomis, Sayles & Company, L.P. |
51 None |
Experience on the Board; continuing service as President, Chief Executive Officer and Chairman of the Board of Directors of Loomis, Sayles & Company, L.P. | ||||
|
David L. Giunta4 (1965) |
Trustee since 2011 President and Chief Executive Officer since 2008 |
President and Chief Executive Officer, Natixis Advisors, L.P., Natixis Distribution, L.P., Natixis Distribution Corporation and Chairman of the Board of Natixis Distribution Corporation |
51 None |
Significant experience on the Board; experience as President and Chief Executive Officer, Natixis Advisors, L.P., Natixis Distribution, L.P., Natixis Distribution Corporation and Chairman of the Board of Natixis Distribution Corporation | ||||
| 1 |
Each trustee serves until retirement, resignation or removal from the Board. The current retirement age is 75. The position of Chairperson of the Board is appointed for a three-year term. Mr. Drucker was appointed to serve an additional one year term as the Chairperson of the Board on June 12, 2019. |
| 2 |
The trustees of the Trust serve as trustees of a fund complex that includes all series of the Trust, Natixis Funds Trust I, Natixis Funds Trust II, Gateway Trust, Loomis Sayles Funds I, Loomis Sayles Funds II and Natixis ETF Trust (collectively, the “Fund Complex”). |
| 3 |
Mr. Charleston is deemed an “interested person” of the Trust because he holds the following positions with an affiliated person of the Trust: President, Chief Executive Officer and Chairman of the Board of Directors of Loomis, Sayles & Company, L.P. |
| 4 |
Mr. Giunta is deemed an “interested person” of the Trust because he holds the following positions with an affiliated person of the Trust: President and Chief Executive Officer, Natixis Advisors, L.P., Natixis Distribution, L.P., Natixis Distribution Corporation and Chairman of the Board of Natixis Distribution Corporation. |
43 |
Table of Contents
Trustee and Officer Information
|
Name and Year of Birth |
Position(s) Held with the Trust |
Term of Office1 and Length of Time Served |
Principal Occupation(s) During Past 5 Years2 |
|||
| OFFICERS OF THE TRUST | ||||||
|
Russell L. Kane (1969) |
Secretary, Clerk and Chief Legal Officer | Since 2016 | Executive Vice President, General Counsel, Secretary and Clerk, Natixis Distribution Corporation, Natixis Advisors, L.P. and Natixis Distribution, L.P.; formerly, Chief Compliance Officer for Mutual Funds, Senior Vice President, Deputy General Counsel, Assistant Secretary and Assistant Clerk, Natixis Distribution Corporation, Natixis Advisors, L.P. and Natixis Distribution, L.P. | |||
|
Michael C. Kardok (1959) |
Treasurer, Principal Financial and Accounting Officer | Since 2004 | Senior Vice President, Natixis Advisors, L.P. and Natixis Distribution, L.P. | |||
|
Kirk D. Johnson (1981) |
Chief Compliance Officer, Assistant Secretary and Anti-Money Laundering Officer | Since 2018 | Senior Vice President, Deputy General Counsel, Assistant Secretary and Assistant Clerk, Natixis Distribution Corporation, Natixis Advisors, L.P. and Natixis Distribution, L.P.; formerly, Associate General Counsel, Natixis Distribution, L.P.; Vice President and Counsel, Natixis Investment Managers, LLC | |||
| 1 |
Each officer of the Trust serves for an indefinite term in accordance with the Trust’s current by-laws until the date his or her successor is elected and qualified, or until he or she sooner dies, retires, is removed or becomes disqualified. |
| 2 |
Each person listed above, except as noted, holds the same position(s) with the Fund Complex. Previous positions during the past five years with Natixis Distribution, L.P., Natixis Advisors, L.P. or Loomis, Sayles & Company, L.P. are omitted, if not materially different from an officer’s current position with such entity. |
| 44
Table of Contents
Annual Report
January 31, 2020
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®
| Portfolio Review | 1 | |||
| Portfolio of Investments | 27 | |||
| Financial Statements | 97 | |||
| Notes to Financial Statements | 115 |
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 at www.icsdelivery.com/natixisfunds.
Table of Contents
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.
Market Conditions
Volatility continued in the markets in 2019. The combination of US-China trade wars, changing monetary stimulus, global growth concerns, volatile oil prices, and lower long-term bond prices drove volatility in stocks but ultimately lifted them by the end of the year. Risk assets, and stocks in particular, have benefitted from the low interest rates and easy monetary policy that have been in place since 2008. When the Federal Reserve (Fed) began raising rates in 2015, financial conditions began to grow less favorable. However, in 2019, the Fed reversed course and lowered rates three times. This helped to ease investors’ worry about the impact of higher rates and tighter financial conditions on company fundamentals.
Overall, both US and foreign stocks gained in the 12 months ending January 31, 2020. The year started slowly through May, but volatility started to creep back into the market by late summer as investors’ concern continued about the global impact of trade tensions between the US and China. However, as the prospect of resolution grew, equities picked up steam again, leading to all-time highs into December and the best calendar year performance in recent years. The top performing regions were the US, Japan and Europe, while the emerging markets were positive but trailed for the period. At the very end of the period, markets came off of their highs as uncertainty grew with the spread of the corona virus.
On the bond front, despite the strong demand for stocks, long-term bonds appreciated, causing yields on 10-year Treasuries to fall over 1.1% to about 1.5% at the end of the period. This movement in bond yields paralleled the actions of the Fed as they eased from a recent high of 2.5% to 1.75% on the Federal Funds Target Rate.
Performance Results
While the Natixis Sustainable Future Funds gained for the 12-month period ended January 31, 2020, they also outperformed their benchmarks, except for the Natixis Sustainable Future 2040 Fund, which underperformed its benchmark. This table shows performance for each Fund for the year ended January 31, 2020 compared to its benchmark in the S&P Target Date® Index Series.
| Fund Name |
Fund
Performance as of 1/31/2020 |
Benchmark |
Benchmark
Performance as of 1/31/2020 |
|||||||
| Natixis Sustainable Future 2015 Fund | 11.81 | % | S&P Target Date 2015® Index1 | 11.05 | % | |||||
| Natixis Sustainable Future 2020 Fund | 12.31 | S&P Target Date 2020® Index1 | 11.52 | |||||||
| Natixis Sustainable Future 2025 Fund | 12.73 | S&P Target Date 2025® Index1 | 12.26 | |||||||
1 |
Table of Contents
| Fund Name |
Fund
Performance as of 1/31/2020 |
Benchmark |
Benchmark
Performance as of 1/31/2020 |
|||||||
| Natixis Sustainable Future 2030 Fund | 13.12 | % | S&P Target Date 2030® Index1 | 13.01 | % | |||||
| Natixis Sustainable Future 2035 Fund | 14.29 | S&P Target Date 2035® Index1 | 13.67 | |||||||
| Natixis Sustainable Future 2040 Fund | 14.05 | S&P Target Date 2040® Index1 | 14.10 | |||||||
| Natixis Sustainable Future 2045 Fund | 14.73 | S&P Target Date 2045® Index1 | 14.35 | |||||||
| Natixis Sustainable Future 2050 Fund | 14.47 | S&P Target Date 2050® Index1 | 14.41 | |||||||
| Natixis Sustainable Future 2055 Fund | 14.93 | S&P Target Date 2055® Index1 | 14.48 | |||||||
| Natixis Sustainable Future 2060 Fund | 14.78 | S&P Target Date 2060+® Index1 | 14.65 | |||||||
Performance data shown represents past performance and is no guarantee of, and not necessarily indicative of, future results.
| 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. |
Explanation of Fund Performance
The Funds are diversified across thirteen US and international allocations. Eight of the allocations follow a sustainable investing approach, selecting investments based on ESG criteria. ESG stands for environmental, social and governance, also known as sustainable or socially responsible investing. Two of the allocations invest in US companies and investments are reviewed for ESG criteria. The remaining two allocations invest primarily in US government and agency securities.
The Funds added three new segments and stopped allocating to one in April, enhancing diversification through dedicated access to specific asset classes.
| • |
Mirova Global Sustainable Equity Segment invests in US and international companies that relate to sustainable development themes and which Mirova believes adhere to ESG practices, have strong fundamentals, and offer attractive valuations. (no longer allocated as of April, 2019) |
| • |
Mirova International Sustainable Equity Fund invests in non-US companies that relate to sustainable development themes and adhere to ESG practices, have strong fundamentals, and offer attractive valuations. |
| • |
Mirova Carbon Neutral U.S. Equity Segment provides broad exposure to the S&P 500® Index, but factors carbon neutrality into its security selection. |
| • |
Mirova Global Green Bond Fund focuses on investment-grade bonds issued to finance projects with a positive environmental impact. |
| • |
AIA U.S. Large Cap Value ESG Segment maintains an ESG focus to investing in US large-cap stocks, with a value bias. |
| • |
AIA U.S. Small/Mid Cap ESG Segment maintains an ESG focus to investing in US small- and mid-cap stocks. |
| • |
AIA International Developed Markets Equity ESG Segment maintains an ESG focus to investing in international stocks from the developed markets. |
| • |
AIA Emerging Markets ESG Segment maintains an ESG focus to investing in emerging market stocks. |
| • |
Harris Associates Large Cap Value Segment invests in mid-sized and large US companies that are valued at a discount to intrinsic value. (Added April, 2019) |
| • |
Loomis Sayles All Cap Growth Segment invests in US companies across all market capitalizations focusing on quality, growth potential and valuations. (Added April, 2019) |
| • |
Loomis Sayles Inflation Protected Securities Fund invests primarily in Treasury Inflation Protected Securities (“TIPs”) to provide income and hedge against inflation. |
| • |
Loomis Sayles Limited Term Government and Agency Fund provides ballast to help minimize volatility and losses. |
| • |
Loomis Sayles Core Fixed Income Segment is a benchmark aware core bond portfolio that combines bottom-up security selection with top-down macro strategy. Seeks to outperform the Bloomberg Barclays US Aggregate Index while providing strong risk adjusted returns. (Added April, 2019) |
Both the Funds’ fixed income and equity allocations posted positive absolute returns and added to overall performance for the 12 months ending January 31, 2020. The benchmarks mentioned below are specific to each segment or Fund, as applicable.
The Mirova Global Sustainable Equity Segment outpaced its benchmark, the MSCI World Index (Net)1. Strong stock picking within the healthcare, industrials, materials, financials and information technology sectors was the largest contributor. This was partially offset by security selection in the communication services sector.
The Mirova International Sustainable Equity Fund outperformed its benchmark, the MSCI EAFE Index (Net)2. Strong security selection within the information technology, industrials and utilities sectors, coupled with an overweight position to the best performing information technology sector, were the largest contributors. An underweight position in energy, the worst performing sector, also contributed. This was partially offset by security selection in the healthcare, materials and consumer staples sectors.
| 2
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NATIXIS SUSTAINABLE FUTURE FUNDS®
The Mirova Carbon Neutral U.S. Equity Segment underperformed its benchmark, the S&P 500® Index3. Security selection within the information technology, healthcare, consumer discretionary and financials sectors was the largest detractor. This was partially offset by an underweight position to energy, the worst performing sector, and strong security selection in the industrials and utilities sectors.
The Mirova Global Green Bond Fund slightly underperformed its benchmark, the Bloomberg Barclays MSCI Green Bond Index4. Currency hedging was the largest detractor, specifically hedging the Fund’s Euro exposure back to USD, as the dollar strengthened vs. the Euro for the period.
The AIA U.S. Large Cap Value ESG Segment underperformed its benchmark, the S&P 500® Value Index5. An underweight allocation to information technology, the best performing sector, was the largest detractor. Security selection within the financials, real estate and communication services sectors also detracted. This was partially offset by strong stock selection in the materials and utilities sectors.
The AIA U.S. Small/Mid Cap ESG Segment outperformed its benchmark, the S&P 1000® Index6. Strong security selection within the healthcare, consumer discretionary, real estate and materials sectors was the primary contributor. This was partially offset by security selection in the financials and information technology sectors.
The AIA International Developed Markets Equity ESG Segment outperformed its benchmark, The MSCI EAFE Index (Net)2. Strong security selection within the consumer discretionary, industrials and financials sectors was the primary contributor. This was partially offset by stock picking in the real estate sector.
The AIA Emerging Markets ESG Segment outperformed its benchmark, the MSCI Emerging Markets Index7. Strong security selection within the industrials, communication services and utilities sectors was the primary contributor. This was partially offset by stock picking in the financials, materials and energy sectors.
The Harris Associates Large Cap Value Segment underperformed its benchmark, the S&P 500® Index3. Security selection in the information technology, energy, consumer discretionary and industrials sectors was the largest detractor. This was partially offset by strong stock selection in the financials and communication services sectors. An underweight to materials also positively contributed.
The Loomis Sayles All Cap Growth Segment underperformed its benchmark, the Russell 3000® Growth Index8. Security selection in the information technology, consumer discretionary, healthcare and industrials sectors was the largest detractor. This was partially offset by strong stock picking in the financials and communication services sectors.
The Loomis Sayles Limited Term Government and Agency Fund underperformed its benchmark, the Bloomberg Barclays U.S. 1-5 Year Government Bond Index9. An out-of-benchmark allocation to agency pass through securities and agency CMOs was the largest detractor. Yield curve positioning within those sectors, specifically being short on the curve, also detracted.
The Loomis Sayles Inflation Protected Securities Fund slightly underperformed its benchmark, the Bloomberg Barclays U.S. Treasury Inflation Protected Securities Index10. Select Treasury positions slightly detracted. Inflation expectations remained dampened throughout most of 2019 due to continued easing from global central banks.
The Loomis Sayles Core Fixed Income Segment outperformed its benchmark, the Bloomberg Barclays U.S. Aggregate Bond Index11. The strategy’s overweight position to investment grade corporate credit positively contributed. Strong security selection in the technology, REITs, insurance and consumer cyclical sectors was also additive.
The allocations for each Fund during the period approximated the amounts shown in the charts on pages 4-21.
| 1. |
MSCI World Index (Net) is an unmanaged index that is designed to measure the equity market performance of developed markets. It is comprised of common stocks of companies representative of the market structure of developed market countries in North America, Europe, and the Asia/Pacific Region. The index is calculated without dividends, with net or with gross dividends reinvested, in both U.S. dollars and local currencies. |
| 2. |
MSCI EAFE Index (Net) is a free float-adjusted market capitalization index designed to measure large and mid-cap equity performance in developed markets, excluding the U.S. and Canada. The Index includes countries in Europe, Australasia, and the Far East. |
| 3. |
S&P 500® Index is a widely recognized measure of U.S. stock market performance. It is an unmanaged index of 500 common stocks chosen for market size, liquidity, and industry group representation, among other factors. It also measures the performance of the large cap segment of the US equities market. |
| 4. |
Bloomberg Barclays MSCI Green Bond Index provides a broad-based measure of global fixed-income securities issued to fund projects with direct environmental benefits according to MSCI ESG Research’s green bond criteria. The green bonds are primarily investment-grade, or may be classified by other sources when bond ratings are not available. The Index may include green bonds from the corporate, securitized, Treasury, or government-related sectors. |
| 5. |
S&P 500® Value Index measures the performance of the large-capitalization value sector in the US equity market. It is a subset of the S&P 500® Index and consists of those stocks in the S&P 500 Index exhibiting the strongest value characteristics. |
| 6. |
S&P 1000® Index combines the S&P MidCap 400® and the S&P SmallCap 600® to form a benchmark for the mid- to small-cap segment of the U.S. equity market. |
| 7. |
MSCI Emerging Markets Index is an unmanaged index that is designed to measure the equity market performance of emerging markets. |
| 8. |
Russell 3000® Growth Index measures the performance of the broad growth segment of the U.S. equity universe. It includes those Russell 3000® Index companies with higher price-to-book ratios and higher forecasted growth values. The Russell 3000® Growth Index is constructed to provide a comprehensive, unbiased, and stable barometer of the broad growth market. The Index is completely reconstituted annually to ensure new and growing equities are included and that the represented companies continue to reflect growth characteristics. |
| 9. |
Bloomberg Barclays U.S. 1-5 Year Government Bond Index is a subindex of the Bloomberg Barclays U.S. Government Index, which is comprised of the Bloomberg Barclays U.S. Treasury and U.S. Agency Indices. The Bloomberg Barclays U.S. Government Index includes Treasuries (public obligations of the U.S. Treasury that have remaining maturities of more than one year) and U.S. agency debentures (publicly issued debt of U.S. Government agencies, quasi-federal corporations, and corporate or foreign debt guaranteed by the U.S. Government). The Bloomberg Barclays U.S. Government Index is a component of the Bloomberg Barclays U.S. Government/Credit Bond Index and the Bloomberg Barclays U.S. Aggregate Bond Index. |
3 |
Table of Contents
| 10. |
Bloomberg Barclays U.S. Treasury Inflation Protected Securities Index is an unmanaged index that tracks inflation protected securities issued by the U.S. Treasury. On March 1, 1997, Barclays launched the Barclays U.S. Treasury Inflation-Protected Securities (TIPS) Index (Series-L), a rules-based, market value-weighted index that tracks inflation-protected securities issued by the U.S. Treasury. |
| 11. |
The Bloomberg Barclays U.S. Aggregate Bond Index is a broad-based index that covers the U.S.-dollar-denominated, investment-grade, fixed-rate, taxable bond market of SEC-registered securities. The index includes bonds from the Treasury, government-related, corporate, mortgage-backed securities, asset-backed securities, and collateralized mortgage-backed securities sectors. |
Covid-19 Pandemic
The recent overall impact of the coronavirus (“COVID-19”) outbreak on the financial markets and the performance of the Funds’ investments has been significant. The potential duration and continued impact of COVID-19 on the financial markets and the overall economy are uncertain. If the financial markets and/or the overall economy are impacted for an extended period, the Funds’ future financial and investment results may be adversely affected.
NATIXIS SUSTAINABLE FUTURE 2015 FUND
Hypothetical Growth of $1,000,000 Investment in Class N Shares2
February 28, 2017 (inception) through January 31, 2020
See notes to chart on page 22.
Asset Allocation as of January 31, 2020*
|
% of
net assets |
||||
| Equity | 43.91 | % | ||
|
AIA Emerging Markets ESG Segment |
1.47 | |||
|
AIA International Developed Markets Equity ESG Segment |
4.45 | |||
|
AIA Large Cap Value ESG Segment |
4.44 | |||
|
AIA U.S. Small/Mid Cap ESG Segment |
5.86 | |||
|
Harris Associates Large Cap Value Segment |
7.36 | |||
|
Loomis Sayles All Cap Growth Segment |
7.44 | |||
|
Mirova Carbon Neutral U.S. Equity Segment |
5.92 | |||
|
Mirova International Sustainable Equity Segment |
6.97 | |||
| Fixed Income | 54.08 | |||
|
Loomis Sayles Core Fixed Income Segment |
19.70 | |||
|
Loomis Sayles Inflation Protected Securities Fund |
12.65 | |||
|
Loomis Sayles Limited Term Government and Agency Fund |
11.11 | |||
|
Mirova Global Green Bond Fund |
10.62 | |||
| Cash | 2.01 | |||
| * |
Differences between these amounts and those reported elsewhere in the financial statements are attributable to the inclusion of other assets and liabilities. |
| 4
Table of Contents
NATIXIS SUSTAINABLE FUTURE FUNDS®
NATIXIS SUSTAINABLE FUTURE 2015 FUND
Average Annual Total Returns – January 31, 20202
| Expense Ratios3 | ||||||||||||||||
| 1 Year | Life of Fund | Gross | Net | |||||||||||||
| Class N (Inception 2/28/17) | ||||||||||||||||
| NAV | 11.81% | 7.99% | 4.12% | 0.55% | ||||||||||||
| Comparative Performance | ||||||||||||||||
| S&P Target Date 2015® Index1 | 11.05 | 6.66 | ||||||||||||||
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 22.
NATIXIS SUSTAINABLE FUTURE 2020 FUND
Hypothetical Growth of $1,000,000 Investment in Class N Shares2
February 28, 2017 (inception) through January 31, 2020
See notes to chart on page 22.
5 |
Table of Contents
Asset Allocation as of January 31, 2020*
|
% of
net assets |
||||
| Equity | 51.91 | % | ||
|
AIA Emerging Markets ESG Segment |
2.44 | |||
|
AIA International Developed Markets Equity ESG Segment |
5.45 | |||
|
AIA Large Cap Value ESG Segment |
4.45 | |||
|
AIA U.S. Small/Mid Cap ESG Segment |
6.85 | |||
|
Harris Associates Large Cap Value Segment |
8.86 | |||
|
Loomis Sayles All Cap Growth Segment |
8.96 | |||
|
Mirova Carbon Neutral U.S. Equity Segment |
6.92 | |||
|
Mirova International Sustainable Equity Segment |
7.98 | |||
| Fixed Income | 46.08 | |||
|
Loomis Sayles Core Fixed Income Segment |
18.73 | |||
|
Loomis Sayles Inflation Protected Securities Fund |
8.11 | |||
|
Loomis Sayles Limited Term Government and Agency Fund |
9.61 | |||
|
Mirova Global Green Bond Fund |
9.63 | |||
| Cash | 2.01 | |||
| * |
Differences between these amounts and those reported elsewhere in the financial statements are attributable to the inclusion of other assets and liabilities. |
Average Annual Total Returns – January 31, 20202
| Expense Ratios3 | ||||||||||||||||
| 1 Year | Life of Fund | Gross | Net | |||||||||||||
| Class N (Inception 2/28/17) | ||||||||||||||||
| NAV | 12.31 | % | 8.65 | % | 4.15 | % | 0.55 | % | ||||||||
| Comparative Performance | ||||||||||||||||
| S&P Target Date 2020® Index1 | 11.52 | 7.10 | ||||||||||||||
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 22.
| 6
Table of Contents
NATIXIS SUSTAINABLE FUTURE FUNDS®
NATIXIS SUSTAINABLE FUTURE 2025 FUND
Hypothetical Growth of $1,000,000 Investment in Class N Shares2
February 28, 2017 (inception) through January 31, 2020
See notes to chart on page 22.
Asset Allocation as of January 31, 2020*
|
% of
net assets |
||||
| Equity | 60.44 | % | ||
|
AIA Emerging Markets ESG Segment |
3.43 | |||
|
AIA International Developed Markets Equity ESG Segment |
6.45 | |||
|
AIA Large Cap Value ESG Segment |
4.95 | |||
|
AIA U.S. Small/Mid Cap ESG Segment |
7.87 | |||
|
Harris Associates Large Cap Value Segment |
9.85 | |||
|
Loomis Sayles All Cap Growth Segment |
9.98 | |||
|
Mirova Carbon Neutral U.S. Equity Segment |
7.92 | |||
|
Mirova International Sustainable Equity Segment |
9.99 | |||
| Fixed Income | 37.54 | |||
|
Loomis Sayles Core Fixed Income Segment |
16.74 | |||
|
Loomis Sayles Inflation Protected Securities Fund |
5.08 | |||
|
Loomis Sayles Limited Term Government and Agency Fund |
7.60 | |||
|
Mirova Global Green Bond Fund |
8.12 | |||
| Cash | 2.02 | |||
| * |
Differences between these amounts and those reported elsewhere in the financial statements are attributable to the inclusion of other assets and liabilities. |
7 |
Table of Contents
Average Annual Total Returns – January 31, 20202
| Expense Ratios3 | ||||||||||||||||
| 1 Year | Life of Fund | Gross | Net | |||||||||||||
| Class N (Inception 2/28/17) | ||||||||||||||||
| NAV | 12.73 | %4 | 9.10 | % | 4.82 | % | 0.56 | % | ||||||||
| Comparative Performance | ||||||||||||||||
| S&P Target Date 2025® Index1 | 12.26 | 7.70 | ||||||||||||||
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 22.
| 8
Table of Contents
NATIXIS SUSTAINABLE FUTURE FUNDS®
NATIXIS SUSTAINABLE FUTURE 2030 FUND
Hypothetical Growth of $1,000,000 Investment in Class N Shares2
February 28, 2017 (inception) through January 31, 2020
See notes to chart on page 22.
Asset Allocation as of January 31, 2020*
|
% of
net assets |
||||
| Equity | 68.97 | % | ||
|
AIA Emerging Markets ESG Segment |
3.46 | |||
|
AIA International Developed Markets Equity ESG Segment |
7.44 | |||
|
AIA Large Cap Value ESG Segment |
6.44 | |||
|
AIA U.S. Small/Mid Cap ESG Segment |
8.83 | |||
|
Harris Associates Large Cap Value Segment |
11.36 | |||
|
Loomis Sayles All Cap Growth Segment |
11.50 | |||
|
Mirova Carbon Neutral U.S. Equity Segment |
8.43 | |||
|
Mirova International Sustainable Equity Segment |
11.51 | |||
| Fixed Income | 28.97 | |||
|
Loomis Sayles Core Fixed Income Segment |
13.21 | |||
|
Loomis Sayles Inflation Protected Securities Fund |
4.58 | |||
|
Loomis Sayles Limited Term Government and Agency Fund |
5.08 | |||
|
Mirova Global Green Bond Fund |
6.10 | |||
| Cash | 2.06 | |||
| * |
Differences between these amounts and those reported elsewhere in the financial statements are attributable to the inclusion of other assets and liabilities. |
9 |
Table of Contents
Average Annual Total Returns – January 31, 20202
| Expense Ratios3 | ||||||||||||||||
| 1 Year | Life of Fund | Gross | Net | |||||||||||||
| Class N (Inception 2/28/17) | ||||||||||||||||
| NAV | 13.12 | % | 9.84 | % | 5.19 | % | 0.57 | % | ||||||||
| Comparative Performance | ||||||||||||||||
| S&P Target Date 2030® Index1 | 13.01 | 8.24 | ||||||||||||||
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 22.
| 10
Table of Contents
NATIXIS SUSTAINABLE FUTURE FUNDS®
NATIXIS SUSTAINABLE FUTURE 2035 FUND
Hypothetical Growth of $1,000,000 Investment in Class N Shares2
February 28, 2017 (inception) through January 31, 2020
See notes to chart on page 22.
Asset Allocation as of January 31, 2020*
|
% of
net assets |
||||
| Equity | 77.59 | % | ||
|
AIA Emerging Markets ESG Segment |
3.94 | |||
|
AIA International Developed Markets Equity ESG Segment |
8.47 | |||
|
AIA Large Cap Value ESG Segment |
6.45 | |||
|
AIA U.S. Small/Mid Cap ESG Segment |
10.34 | |||
|
Harris Associates Large Cap Value Segment |
12.88 | |||
|
Loomis Sayles All Cap Growth Segment |
13.02 | |||
|
Mirova Carbon Neutral U.S. Equity Segment |
9.94 | |||
|
Mirova International Sustainable Equity Segment |
12.55 | |||
|
Fixed Income |
20.38 | |||
|
Loomis Sayles Core Fixed Income Segment |
9.17 | |||
|
Loomis Sayles Inflation Protected Securities Fund |
3.57 | |||
|
Loomis Sayles Limited Term Government and Agency Fund |
3.56 | |||
|
Mirova Global Green Bond Fund |
4.08 | |||
|
Cash |
2.03 | |||
| * |
Differences between these amounts and those reported elsewhere in the financial statements are attributable to the inclusion of other assets and liabilities. |
11 |
Table of Contents
Average Annual Total Returns – January 31, 20202
| Expense Ratios3 | ||||||||||||||||
| 1 Year | Life of Fund | Gross | Net | |||||||||||||
| Class N (Inception 2/28/17) | ||||||||||||||||
| NAV | 14.29 | % | 10.60 | % | 4.95 | % | 0.58 | % | ||||||||
| Comparative Performance | ||||||||||||||||
| S&P Target Date 2035® Index1 | 13.67 | 8.74 | ||||||||||||||
Performance data shown represents past performance and is no guarantee of, and not necessarily indicative of, future results. Total return and value will vary, and you may have a gain or loss when shares are sold. Current performance may be lower or higher than quoted. For most recent month-end performance, visit im.natixis.com/performance. You may not invest directly in an index. Performance for periods less than one year is cumulative, not annualized. Returns reflect changes in share price and reinvestment of dividends and capital gains, if any. The table(s) do not reflect taxes shareholders might owe on any fund distributions or when they redeem their shares. See notes to tables on page 22.
| 12
Table of Contents
NATIXIS SUSTAINABLE FUTURE FUNDS®
NATIXIS SUSTAINABLE FUTURE 2040 FUND
Hypothetical Growth of $1,000,000 Investment in Class N Shares2
February 28, 2017 (inception) through January 31, 2020
See notes to chart on page 22.
Asset Allocation as of January 31, 2020*
|
% of
net assets |
||||
| Equity | 84.71 | % | ||
|
AIA Emerging Markets ESG Segment |
4.44 | |||
|
AIA International Developed Markets Equity ESG Segment |
8.97 | |||
|
AIA Large Cap Value ESG Segment |
6.97 | |||
|
AIA U.S. Small/Mid Cap ESG Segment |
11.37 | |||
|
Harris Associates Large Cap Value Segment |
13.90 | |||
|
Loomis Sayles All Cap Growth Segment |
14.05 | |||
|
Mirova Carbon Neutral U.S. Equity Segment |
10.94 | |||
|
Mirova International Sustainable Equity Segment |
14.07 | |||
|
Fixed Income |
13.26 | |||
|
Loomis Sayles Core Fixed Income Segment |
5.10 | |||
|
Loomis Sayles Inflation Protected Securities Fund |
2.55 | |||
|
Loomis Sayles Limited Term Government and Agency Fund |
2.04 | |||
|
Mirova Global Green Bond Fund |
3.57 | |||
|
Cash |
2.03 | |||
| * |
Differences between these amounts and those reported elsewhere in the financial statements are attributable to the inclusion of other assets and liabilities. |
13 |
Table of Contents
Average Annual Total Returns – January 31, 20202
| Expense Ratios3 | ||||||||||||||||
| 1 Year | Life of Fund | Gross | Net | |||||||||||||
| Class N (Inception 2/28/17) | ||||||||||||||||
| NAV | 14.05 | %4 | 10.89 | % | 5.16 | % | 0.59 | % | ||||||||
| Comparative Performance | ||||||||||||||||
| S&P Target Date 2040® Index1 | 14.10 | 9.08 | ||||||||||||||
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 22.
| 14
Table of Contents
NATIXIS SUSTAINABLE FUTURE FUNDS®
NATIXIS SUSTAINABLE FUTURE 2045 FUND
Hypothetical Growth of $1,000,000 Investment in Class N Shares2
February 28, 2017 (inception) through January 31, 2020
See notes to chart on page 22.
Asset Allocation as of January 31, 2020*
|
% of
net assets |
||||
| Equity | 89.80 | % | ||
|
AIA Emerging Markets ESG Segment |
4.94 | |||
|
AIA International Developed Markets Equity ESG Segment |
9.97 | |||
|
AIA Large Cap Value ESG Segment |
7.46 | |||
|
AIA U.S. Small/Mid Cap ESG Segment |
11.37 | |||
|
Harris Associates Large Cap Value Segment |
14.44 | |||
|
Loomis Sayles All Cap Growth Segment |
14.57 | |||
|
Mirova Carbon Neutral U.S. Equity Segment |
11.46 | |||
|
Mirova International Sustainable Equity Segment |
15.59 | |||
|
Fixed Income |
8.17 | |||
|
Loomis Sayles Core Fixed Income Segment |
4.09 | |||
|
Loomis Sayles Inflation Protected Securities Fund |
1.02 | |||
|
Loomis Sayles Limited Term Government and Agency Fund |
1.53 | |||
|
Mirova Global Green Bond Fund |
1.53 | |||
|
Cash |
2.03 | |||
| * |
Differences between these amounts and those reported elsewhere in the financial statements are attributable to the inclusion of other assets and liabilities. |
15 |
Table of Contents
Average Annual Total Returns – January 31, 20202
| Expense Ratios3 | ||||||||||||||||
| 1 Year | Life of Fund | Gross | Net | |||||||||||||
| Class N (Inception 2/28/17) | ||||||||||||||||
| NAV | 14.73 | % | 11.32 | % | 6.13 | % | 0.59 | % | ||||||||
| Comparative Performance | ||||||||||||||||
| S&P Target Date 2045® Index1 | 14.35 | 9.25 | ||||||||||||||
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 22.
| 16
Table of Contents
NATIXIS SUSTAINABLE FUTURE FUNDS®
NATIXIS SUSTAINABLE FUTURE 2050 FUND
Hypothetical Growth of $1,000,000 Investment in Class N Shares2
February 28, 2017 (inception) through January 31, 2020
See notes to chart on page 22.
Asset Allocation as of January 31, 2020*
|
% of
net assets |
||||
| Equity | 92.35 | % | ||
|
AIA Emerging Markets ESG Segment |
5.43 | |||
|
AIA International Developed Markets Equity ESG Segment |
11.01 | |||
|
AIA Large Cap Value ESG Segment |
7.99 | |||
|
AIA U.S. Small/Mid Cap ESG Segment |
11.41 | |||
|
Harris Associates Large Cap Value Segment |
14.40 | |||
|
Loomis Sayles All Cap Growth Segment |
14.56 | |||
|
Mirova Carbon Neutral U.S. Equity Segment |
11.46 | |||
|
Mirova International Sustainable Equity Segment |
16.09 | |||
| Fixed Income | 5.62 | |||
|
Loomis Sayles Core Fixed Income Segment |
4.09 | |||
|
Loomis Sayles Inflation Protected Securities Fund |
0.00 | |||
|
Loomis Sayles Limited Term Government and Agency Fund |
0.00 | |||
|
Mirova Global Green Bond Fund |
1.53 | |||
| Cash | 2.03 | |||
| * |
Differences between these amounts and those reported elsewhere in the financial statements are attributable to the inclusion of other assets and liabilities. |
17 |
Table of Contents
Average Annual Total Returns – January 31, 20202
| Expense Ratios3 | ||||||||||||||||
| 1 Year | Life of Fund | Gross | Net | |||||||||||||
| Class N (Inception 2/28/17) | ||||||||||||||||
| NAV | 14.47 | %4 | 11.34 | % | 6.08 | % | 0.60 | % | ||||||||
| Comparative Performance | ||||||||||||||||
| S&P Target Date 2050® Index1 | 14.41 | 9.37 | ||||||||||||||
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 22.
| 18
Table of Contents
NATIXIS SUSTAINABLE FUTURE FUNDS®
NATIXIS SUSTAINABLE FUTURE 2055 FUND
Hypothetical Growth of $1,000,000 Investment in Class N Shares2
February 28, 2017 (inception) through January 31, 2020
See notes to chart on page 22.
Asset Allocation as of January 31, 2020*
|
% of
net assets |
||||
| Equity | 92.35 | % | ||
|
AIA Emerging Markets ESG Segment |
5.42 | |||
|
AIA International Developed Markets Equity ESG Segment |
10.98 | |||
|
AIA Large Cap Value ESG Segment |
7.99 | |||
|
AIA U.S. Small/Mid Cap ESG Segment |
11.43 | |||
|
Harris Associates Large Cap Value Segment |
14.42 | |||
|
Loomis Sayles All Cap Growth Segment |
14.56 | |||
|
Mirova Carbon Neutral U.S. Equity Segment |
11.46 | |||
|
Mirova International Sustainable Equity Segment |
16.09 | |||
| Fixed Income | 5.62 | |||
|
Loomis Sayles Core Fixed Income Segment |
4.09 | |||
|
Loomis Sayles Inflation Protected Securities Fund |
0.00 | |||
|
Loomis Sayles Limited Term Government and Agency Fund |
0.00 | |||
|
Mirova Global Green Bond Fund |
1.53 | |||
| Cash | 2.03 | |||
| * |
Differences between these amounts and those reported elsewhere in the financial statements are attributable to the inclusion of other assets and liabilities. |
19 |
Table of Contents
Average Annual Total Returns – January 31, 20202
| Expense Ratios3 | ||||||||||||||||
| 1 Year | Life of Fund | Gross | Net | |||||||||||||
| Class N (Inception 2/28/17) | ||||||||||||||||
| NAV | 14.93 | % | 11.50 | % | 6.10 | % | 0.60 | % | ||||||||
| Comparative Performance | ||||||||||||||||
| S&P Target Date 2055® Index1 | 14.48 | 9.44 | ||||||||||||||
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 22.
| 20
Table of Contents
NATIXIS SUSTAINABLE FUTURE FUNDS®
NATIXIS SUSTAINABLE FUTURE 2060 FUND
Hypothetical Growth of $1,000,000 Investment in Class N Shares2
February 28, 2017 (inception) through January 31, 2020
See notes to chart on page 22.
Asset Allocation as of January 31, 2020*
|
% of
net assets |
||||
| Equity | 92.33 | % | ||
|
AIA Emerging Markets ESG Segment |
5.46 | |||
|
AIA International Developed Markets Equity ESG Segment |
11.01 | |||
|
AIA Large Cap Value ESG Segment |
7.94 | |||
|
AIA U.S. Small/Mid Cap ESG Segment |
11.36 | |||
|
Harris Associates Large Cap Value Segment |
14.38 | |||
|
Loomis Sayles All Cap Growth Segment |
14.61 | |||
|
Mirova Carbon Neutral U.S. Equity Segment |
11.46 | |||
|
Mirova International Sustainable Equity Segment |
16.10 | |||
| Fixed Income | 5.64 | |||
|
Loomis Sayles Core Fixed Income Segment |
4.11 | |||
|
Loomis Sayles Inflation Protected Securities Fund |
0.00 | |||
|
Loomis Sayles Limited Term Government and Agency Fund |
0.00 | |||
|
Mirova Global Green Bond Fund |
1.53 | |||
| Cash | 2.04 | |||
| * |
Differences between these amounts and those reported elsewhere in the financial statements are attributable to the inclusion of other assets and liabilities. |
21 |
Table of Contents
Average Annual Total Returns – January 31, 20202
| Expense Ratios3 | ||||||||||||||||
| 1 Year | Life of Fund | Gross | Net | |||||||||||||
| Class N (Inception 2/28/17) | ||||||||||||||||
| NAV | 14.78 | % | 11.53 | % | 6.11 | % | 0.60 | % | ||||||||
| Comparative Performance | ||||||||||||||||
| S&P Target Date 2060+® Index1 | 14.65 | 9.65 | ||||||||||||||
Performance data shown represents past performance and is no guarantee of, and not necessarily indicative of, future results. Total return and value will vary, and you may have a gain or loss when shares are sold. Current performance may be lower or higher than quoted. For most recent month-end performance, visit im.natixis.com/performance. You may not invest directly in an index. Performance for periods less than one year is cumulative, not annualized. Returns reflect changes in share price and reinvestment of dividends and capital gains, if any. The table(s) do not reflect taxes shareholders might owe on any fund distributions or when they redeem their shares.
| 1 |
The S&P Target Date® Index Series consists of multi-asset class indices, each corresponding to a specific target retirement date. The asset allocation for each index is determined through an annual survey of target date fund groups with a minimum asset threshold of $100 million. The various asset class exposures of the Indices may include equities, fixed income, REITs, and commodities depending on the allocations reported in the survey. Index returns are calculated daily. You may not invest directly in an index. |
| 2 |
Fund performance has been increased by fee waivers and/or expense reimbursements, if any, without which performance would have been lower. |
| 3 |
Expense ratios are as shown in the Fund’s prospectus in effect as of the date of this report and include the expenses of the underlying funds in which the Fund invests. The expense ratios for the current reporting period can be found in the Financial Highlights section of this report under Ratios to Average Net Assets. Net expenses reflect contractual expense 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. |
| 4 |
Generally accepted accounting principles require adjustments to be made to the net assets of the Fund for financial reporting purposes only, and as such, the total returns reflected above are different from the total returns reported in the financial highlights. The returns presented in the table above are what an investor would have actually experienced. |
| 22
Table of Contents
ADDITIONAL INFORMATION
The views expressed in this report reflect those of the portfolio managers as of the dates indicated. The managers’ views are subject to change at any time without notice based on changes in market or other conditions. References to specific securities or industries should not be regarded as investment advice. Because the Fund is actively managed, there is no assurance that they will continue to invest in the securities or industries mentioned.
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.
23 |
Table of Contents
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 August 1, 2019 through January 31, 2020. 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 8/1/2019 |
ENDING
ACCOUNT VALUE 1/31/2020 |
EXPENSES PAID
DURING PERIOD* 8/1/2019 – 1/31/2020 |
|||||||||
| Class N | ||||||||||||
| Actual | $1,000.00 | $1,050.10 | $1.50 | |||||||||
| Hypothetical (5% return before expenses) | $1,000.00 | $1,023.74 | $1.48 | |||||||||
| * |
Expenses are equal to the Fund’s annualized expense ratio (after waiver/reimbursement) of 0.29%, multiplied by the average account value over the period, multiplied by the number of days in the most recent fiscal half-year (184), 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 8/1/2019 |
ENDING
ACCOUNT VALUE 1/31/2020 |
EXPENSES PAID
DURING PERIOD* 8/1/2019 – 1/31/2020 |
|||||||||
| Class N | ||||||||||||
| Actual | $1,000.00 | $1,054.20 | $1.50 | |||||||||
| Hypothetical (5% return before expenses) | $1,000.00 | $1,023.74 | $1.48 | |||||||||
| * |
Expenses are equal to the Fund’s annualized expense ratio (after waiver/reimbursement) of 0.29%, multiplied by the average account value over the period, multiplied by the number of days in the most recent fiscal half-year (184), 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 8/1/2019 |
ENDING
ACCOUNT VALUE 1/31/2020 |
EXPENSES PAID
DURING PERIOD* 8/1/2019 – 1/31/2020 |
|||||||||
| Class N | ||||||||||||
| Actual | $1,000.00 | $1,056.50 | $1.61 | |||||||||
| Hypothetical (5% return before expenses) | $1,000.00 | $1,023.64 | $1.58 | |||||||||
| * |
Expenses are equal to the Fund’s annualized expense ratio (after waiver/reimbursement) of 0.31%, multiplied by the average account value over the period, multiplied by the number of days in the most recent fiscal half-year (184), 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. |
| 24
Table of Contents
| NATIXIS SUSTAINABLE FUTURE 2030 FUND |
BEGINNING
ACCOUNT VALUE 8/1/2019 |
ENDING
ACCOUNT VALUE 1/31/2020 |
EXPENSES PAID
DURING PERIOD* 8/1/2019 – 1/31/2020 |
|||||||||
| Class N | ||||||||||||
| Actual | $1,000.00 | $1,055.90 | $1.76 | |||||||||
| Hypothetical (5% return before expenses) | $1,000.00 | $1,023.49 | $1.73 | |||||||||
| * |
Expenses are equal to the Fund’s annualized expense ratio (after waiver/reimbursement) of 0.34%, multiplied by the average account value over the period, multiplied by the number of days in the most recent fiscal half-year (184), 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 8/1/2019 |
ENDING
ACCOUNT VALUE 1/31/2020 |
EXPENSES PAID
DURING PERIOD* 8/1/2019 – 1/31/2020 |
|||||||||
| Class N | ||||||||||||
| Actual | $1,000.00 | $1,065.00 | $1.87 | |||||||||
| Hypothetical (5% return before expenses) | $1,000.00 | $1,023.39 | $1.84 | |||||||||
| * |
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 (184), 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 8/1/2019 |
ENDING
ACCOUNT VALUE 1/31/2020 |
EXPENSES PAID
DURING PERIOD* 8/1/2019 – 1/31/2020 |
|||||||||
| Class N | ||||||||||||
| Actual | $1,000.00 | $1,064.10 | $1.92 | |||||||||
| Hypothetical (5% return before expenses) | $1,000.00 | $1,023.34 | $1.89 | |||||||||
| * |
Expenses are equal to the Fund’s annualized expense ratio (after waiver/reimbursement) of 0.37%, multiplied by the average account value over the period, multiplied by the number of days in the most recent fiscal half-year (184), 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 8/1/2019 |
ENDING
ACCOUNT VALUE 1/31/2020 |
EXPENSES PAID
DURING PERIOD* 8/1/2019 –1/31/2020 |
|||||||||
| Class N | ||||||||||||
| Actual | $1,000.00 | $1,067.80 | $2.03 | |||||||||
| Hypothetical (5% return before expenses) | $1,000.00 | $1,023.24 | $1.99 | |||||||||
| * |
Expenses are equal to the Fund’s annualized expense ratio (after waiver/reimbursement) of 0.39%, multiplied by the average account value over the period, multiplied by the number of days in the most recent fiscal half-year (184), 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 8/1/2019 |
ENDING
ACCOUNT VALUE 1/31/2020 |
EXPENSES PAID
DURING PERIOD* 8/1/2019 –1/31/2020** |
|||||||||
| Class N | ||||||||||||
| Actual | $1,000.00 | $1,068.00 | $1.98 | |||||||||
| Hypothetical (5% return before expenses) | $1,000.00 | $1,023.29 | $1.94 | |||||||||
| * |
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 (184), 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. |
| ** |
Generally accepted accounting principles require adjustments to be made to the net assets of the Fund at period end for financial reporting purposes. Amounts expressed in the table include the effect of such adjustments. |
25 |
Table of Contents
| NATIXIS SUSTAINABLE FUTURE 2055 FUND |
BEGINNING
ACCOUNT VALUE 8/1/2019 |
ENDING
ACCOUNT VALUE 1/31/2020 |
EXPENSES PAID
DURING PERIOD* 8/1/2019 – 1/31/2020 |
|||||||||
| Class N | ||||||||||||
| Actual | $1,000.00 | $1,069.10 | $2.03 | |||||||||
| Hypothetical (5% return before expenses) | $1,000.00 | $1,023.24 | $1.99 | |||||||||
| * |
Expenses are equal to the Fund’s annualized expense ratio (after waiver/reimbursement) of 0.39%, multiplied by the average account value over the period, multiplied by the number of days in the most recent fiscal half-year (184), 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 8/1/2019 |
ENDING
ACCOUNT VALUE 1/31/2020 |
EXPENSES PAID
DURING PERIOD* 8/1/2019 – 1/31/2020 |
|||||||||
| Class N | ||||||||||||
| Actual | $1,000.00 | $1,069.30 | $2.03 | |||||||||
| Hypothetical (5% return before expenses) | $1,000.00 | $1,023.24 | $1.99 | |||||||||
| * |
Expenses are equal to the Fund’s annualized expense ratio (after waiver/reimbursement) of 0.39%, multiplied by the average account value over the period, multiplied by the number of days in the most recent fiscal half-year (184), 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. |
| 26
Table of Contents
Portfolio of Investments – as of January 31, 2020
Natixis Sustainable Future 2015 Fund
|
Shares |
Description | Value (†) | ||||||
| Common Stocks — 30.5% of Net Assets | ||||||||
| Aerospace & Defense — 0.2% |
|
|||||||
| 15 | Axon Enterprise, Inc.(a) | $ | 1,152 | |||||
| 23 | Moog, Inc., Class A | 2,061 | ||||||
| 3 | Raytheon Co. | 663 | ||||||
| 12 | Teledyne Technologies, Inc.(a) | 4,381 | ||||||
| 31 | United Technologies Corp. | 4,656 | ||||||
|
|
|
|||||||
| 12,913 | ||||||||
|
|
|
|||||||
| Air Freight & Logistics — 0.4% |
|
|||||||
| 208 | Expeditors International of Washington, Inc. | 15,192 | ||||||
| 31 | FedEx Corp. | 4,484 | ||||||
| 40 | United Parcel Service, Inc., Class B | 4,141 | ||||||
|
|
|
|||||||
| 23,817 | ||||||||
|
|
|
|||||||
| Airlines — 0.1% |
|
|||||||
| 226 | American Airlines Group, Inc. | 6,066 | ||||||
| 11 | Delta Air Lines, Inc. | 613 | ||||||
|
|
|
|||||||
| 6,679 | ||||||||
|
|
|
|||||||
| Auto Components — 0.2% |
|
|||||||
| 95 | American Axle & Manufacturing Holdings, Inc.(a) | 878 | ||||||
| 69 | Aptiv PLC | 5,850 | ||||||
| 12 | BorgWarner, Inc. | 411 | ||||||
| 102 | Delphi Technologies PLC(a) | 1,565 | ||||||
| 114 | Goodyear Tire & Rubber Co. (The) | 1,497 | ||||||
| 21 | Visteon Corp.(a) | 1,676 | ||||||
|
|
|
|||||||
| 11,877 | ||||||||
|
|
|
|||||||
| Automobiles — 0.3% |
|
|||||||
| 656 | Fiat Chrysler Automobiles NV | 8,541 | ||||||
| 259 | General Motors Co. | 8,648 | ||||||
| 22 | Thor Industries, Inc. | 1,772 | ||||||
|
|
|
|||||||
| 18,961 | ||||||||
|
|
|
|||||||
| Banks — 2.0% |
|
|||||||
| 61 | Ameris Bancorp | 2,452 | ||||||
| 109 | BancorpSouth Bank | 3,114 | ||||||
| 556 | Bank of America Corp. | 18,253 | ||||||
| 238 | Cadence BanCorp | 3,720 | ||||||
| 254 | Citigroup, Inc. | 18,900 | ||||||
| 155 | Citizens Financial Group, Inc. | 5,778 | ||||||
| 83 | Columbia Banking System, Inc. | 3,212 | ||||||
| 7 | Comerica, Inc. | 428 | ||||||
| 53 | Cullen/Frost Bankers, Inc. | 4,725 | ||||||
| 191 | Fulton Financial Corp. | 3,146 | ||||||
| 162 | Huntington Bancshares, Inc. | 2,198 | ||||||
| 97 | International Bancshares Corp. | 3,822 | ||||||
| 256 | KeyCorp | 4,790 | ||||||
| 17 | M&T Bank Corp. | 2,865 | ||||||
| 414 | People’s United Financial, Inc. | 6,384 | ||||||
| 58 | PNC Financial Services Group, Inc. (The) | 8,616 | ||||||
| 114 | Regions Financial Corp. | 1,775 | ||||||
| 88 | TCF Financial Corp. | 3,721 | ||||||
| 95 | Truist Financial Corp. | 4,899 | ||||||
| 150 | Trustmark Corp. | 4,797 | ||||||
| 219 | Wells Fargo & Co. | 10,280 | ||||||
| 40 | Wintrust Financial Corp. | 2,531 | ||||||
| 79 | Zions Bancorp N.A. | 3,594 | ||||||
|
|
|
|||||||
| 124,000 | ||||||||
|
|
|
|||||||
| Beverages — 0.9% |
|
|||||||
| 61 | Brown-Forman Corp., Class B | 4,126 | ||||||
| 270 | Coca-Cola Co. (The) | 15,768 | ||||||
| 45 | Constellation Brands, Inc., Class A | 8,474 | ||||||
| 324 | Monster Beverage Corp.(a) | 21,578 | ||||||
| Beverages — continued |
|
|||||||
| 34 | PepsiCo, Inc. | $ | 4,829 | |||||
|
|
|
|||||||
| 54,775 | ||||||||
|
|
|
|||||||
| Biotechnology — 0.9% |
|
|||||||
| 47 | AbbVie, Inc. | 3,808 | ||||||
| 54 | Amgen, Inc. | 11,666 | ||||||
| 8 | Biogen, Inc.(a) | 2,151 | ||||||
| 82 | BioMarin Pharmaceutical, Inc.(a) | 6,847 | ||||||
| 79 | Gilead Sciences, Inc. | 4,993 | ||||||
| 16 | Ligand Pharmaceuticals, Inc.(a) | 1,405 | ||||||
| 70 | Regeneron Pharmaceuticals, Inc.(a) | 23,656 | ||||||
| 4 | Vertex Pharmaceuticals, Inc.(a) | 908 | ||||||
|
|
|
|||||||
| 55,434 | ||||||||
|
|
|
|||||||
| Building Products — 0.2% |
|
|||||||
| 165 | Johnson Controls International PLC | 6,509 | ||||||
| 16 | Lennox International, Inc. | 3,728 | ||||||
|
|
|
|||||||
| 10,237 | ||||||||
|
|
|
|||||||
| Capital Markets — 2.3% |
|
|||||||
| 2 | Affiliated Managers Group, Inc. | 160 | ||||||
| 8 | Ameriprise Financial, Inc. | 1,323 | ||||||
| 312 | Bank of New York Mellon Corp. (The) | 13,971 | ||||||
| 12 | BlackRock, Inc. | 6,328 | ||||||
| 312 | Charles Schwab Corp. (The) | 14,211 | ||||||
| 17 | CME Group, Inc. | 3,691 | ||||||
| 42 | FactSet Research Systems, Inc. | 12,017 | ||||||
| 67 | Franklin Resources, Inc. | 1,695 | ||||||
| 37 | Goldman Sachs Group, Inc. (The) | 8,797 | ||||||
| 40 | Intercontinental Exchange, Inc. | 3,990 | ||||||
| 23 | Invesco Ltd. | 398 | ||||||
| 78 | Janus Henderson Group PLC | 1,971 | ||||||
| 76 | Legg Mason, Inc. | 2,975 | ||||||
| 54 | Moody’s Corp. | 13,867 | ||||||
| 44 | MSCI, Inc. | 12,575 | ||||||
| 43 | Northern Trust Corp. | 4,206 | ||||||
| 34 | S&P Global, Inc. | 9,987 | ||||||
| 177 | SEI Investments Co. | 11,551 | ||||||
| 229 | State Street Corp. | 17,319 | ||||||
|
|
|
|||||||
| 141,032 | ||||||||
|
|
|
|||||||
| Chemicals — 0.4% |
|
|||||||
| 21 | DuPont de Nemours, Inc. | 1,075 | ||||||
| 37 | Ecolab, Inc. | 7,256 | ||||||
| 42 | HB Fuller Co. | 1,941 | ||||||
| 30 | Innospec, Inc. | 3,022 | ||||||
| 8 | International Flavors & Fragrances, Inc. | 1,049 | ||||||
| 36 | Linde PLC | 7,312 | ||||||
| 36 | Minerals Technologies, Inc. | 1,949 | ||||||
| 20 | Stepan Co. | 1,973 | ||||||
|
|
|
|||||||
| 25,577 | ||||||||
|
|
|
|||||||
| Commercial Services & Supplies — 0.2% |
|
|||||||
| 36 | Healthcare Services Group, Inc. | 922 | ||||||
| 22 | MSA Safety, Inc. | 2,983 | ||||||
| 31 | Tetra Tech, Inc. | 2,653 | ||||||
| 30 | Waste Management, Inc. | 3,651 | ||||||
|
|
|
|||||||
| 10,209 | ||||||||
|
|
|
|||||||
| Communications Equipment — 0.4% |
|
|||||||
| 51 | Ciena Corp.(a) | 2,074 | ||||||
| 361 | Cisco Systems, Inc. | 16,595 | ||||||
| 5 | F5 Networks, Inc.(a) | 611 | ||||||
| 27 | InterDigital, Inc. | 1,492 | ||||||
| 28 | Lumentum Holdings, Inc.(a) | 2,121 | ||||||
See accompanying notes to financial statements.
27 |
Table of Contents
Portfolio of Investments – as of January 31, 2020
Natixis Sustainable Future 2015 Fund – (continued)
|
Shares |
Description | Value (†) | ||||||
| Communications Equipment — continued |
|
|||||||
| 12 | Motorola Solutions, Inc. | $ | 2,124 | |||||
|
|
|
|||||||
| 25,017 | ||||||||
|
|
|
|||||||
| Construction & Engineering — 0.1% |
|
|||||||
| 98 | AECOM(a) | 4,726 | ||||||
| 120 | Fluor Corp. | 2,147 | ||||||
|
|
|
|||||||
| 6,873 | ||||||||
|
|
|
|||||||
| Consumer Finance — 0.3% |
|
|||||||
| 28 | American Express Co. | 3,636 | ||||||
| 163 | Capital One Financial Corp. | 16,267 | ||||||
| 73 | Navient Corp. | 1,050 | ||||||
|
|
|
|||||||
| 20,953 | ||||||||
|
|
|
|||||||
| Containers & Packaging — 0.1% |
|
|||||||
| 62 | Ball Corp. | 4,475 | ||||||
| 36 | International Paper Co. | 1,466 | ||||||
| 169 | O-I Glass, Inc. | 2,133 | ||||||
|
|
|
|||||||
| 8,074 | ||||||||
|
|
|
|||||||
| Distributors — 0.1% |
|
|||||||
| 29 | Genuine Parts Co. | 2,714 | ||||||
| 15 | POOL CORP. | 3,289 | ||||||
|
|
|
|||||||
| 6,003 | ||||||||
|
|
|
|||||||
| Diversified Consumer Services — 0.1% |
|
|||||||
| 64 | Service Corp. International | 3,069 | ||||||
|
|
|
|||||||
| Diversified Telecommunication Services — 0.1% |
|
|||||||
| 115 | AT&T, Inc. | 4,327 | ||||||
| 62 | Verizon Communications, Inc. | 3,685 | ||||||
|
|
|
|||||||
| 8,012 | ||||||||
|
|
|
|||||||
| Electric Utilities — 0.3% |
|
|||||||
| 87 | American Electric Power Co., Inc. | 9,067 | ||||||
| 11 | Edison International | 842 | ||||||
| 23 | Eversource Energy | 2,126 | ||||||
| 17 | FirstEnergy Corp. | 864 | ||||||
| 28 | IDACORP, Inc. | 3,141 | ||||||
| 30 | PPL Corp. | 1,086 | ||||||
|
|
|
|||||||
| 17,126 | ||||||||
|
|
|
|||||||
| Electrical Equipment — 0.1% |
|
|||||||
| 12 | Acuity Brands, Inc. | 1,414 | ||||||
| 40 | Eaton Corp. PLC | 3,779 | ||||||
| 20 | Hubbell, Inc. | 2,865 | ||||||
|
|
|
|||||||
| 8,058 | ||||||||
|
|
|
|||||||
| Electronic Equipment, Instruments & Components — 0.5% |
|
|||||||
| 54 | Avnet, Inc. | 1,970 | ||||||
| 26 | Belden, Inc. | 1,281 | ||||||
| 55 | Cognex Corp. | 2,803 | ||||||
| 13 | Coherent, Inc.(a) | 1,839 | ||||||
| 24 | Corning, Inc. | 641 | ||||||
| 12 | Littelfuse, Inc. | 2,123 | ||||||
| 10 | Rogers Corp.(a) | 1,178 | ||||||
| 121 | TE Connectivity Ltd. | 11,154 | ||||||
| 66 | Trimble, Inc.(a) | 2,806 | ||||||
| 98 | Vishay Intertechnology, Inc. | 1,988 | ||||||
|
|
|
|||||||
| 27,783 | ||||||||
|
|
|
|||||||
| Energy Equipment & Services — 0.2% |
|
|||||||
| 31 | Apergy Corp.(a) | 802 | ||||||
| 36 | Baker Hughes Co. | 780 | ||||||
| 17 | Core Laboratories NV | 597 | ||||||
| 54 | National Oilwell Varco, Inc. | 1,113 | ||||||
| 54 | Oceaneering International, Inc.(a) | 670 | ||||||
| Energy Equipment & Services — continued |
|
|||||||
| 48 | Oil States International, Inc.(a) | $ | 517 | |||||
| 286 | Schlumberger Ltd. | 9,584 | ||||||
| 37 | TechnipFMC PLC | 611 | ||||||
|
|
|
|||||||
| 14,674 | ||||||||
|
|
|
|||||||
| Entertainment — 0.7% |
|
|||||||
| 26 | Activision Blizzard, Inc. | 1,520 | ||||||
| 52 | Cinemark Holdings, Inc. | 1,639 | ||||||
| 14 | Electronic Arts, Inc.(a) | 1,511 | ||||||
| 53 | Netflix, Inc.(a) | 18,290 | ||||||
| 18 | Take-Two Interactive Software, Inc.(a) | 2,243 | ||||||
| 115 | Walt Disney Co. (The) | 15,906 | ||||||
|
|
|
|||||||
| 41,109 | ||||||||
|
|
|
|||||||
| Food & Staples Retailing — 0.2% |
|
|||||||
| 68 | Kroger Co. (The) | 1,826 | ||||||
| 176 | SpartanNash Co. | 2,144 | ||||||
| 19 | Sysco Corp. | 1,561 | ||||||
| 73 | Walgreens Boots Alliance, Inc. | 3,712 | ||||||
|
|
|
|||||||
| 9,243 | ||||||||
|
|
|
|||||||
| Food Products — 0.4% |
|
|||||||
| 52 | Campbell Soup Co. | 2,516 | ||||||
| 519 | Danone S.A., Sponsored ADR | 8,278 | ||||||
| 38 | General Mills, Inc. | 1,985 | ||||||
| 53 | Hain Celestial Group, Inc. (The)(a) | 1,283 | ||||||
| 5 | Hershey Co. (The) | 776 | ||||||
| 30 | Hormel Foods Corp. | 1,418 | ||||||
| 28 | Ingredion, Inc. | 2,464 | ||||||
| 10 | J.M. Smucker Co. (The) | 1,036 | ||||||
| 43 | Kellogg Co. | 2,933 | ||||||
| 5 | McCormick & Co., Inc. | 817 | ||||||
| 14 | Mondelez International, Inc., Class A | 803 | ||||||
|
|
|
|||||||
| 24,309 | ||||||||
|
|
|
|||||||
| Gas Utilities — 0.2% |
|
|||||||
| 58 | New Jersey Resources Corp. | 2,397 | ||||||
| 32 | ONE Gas, Inc. | 3,024 | ||||||
| 71 | South Jersey Industries, Inc. | 2,187 | ||||||
| 70 | UGI Corp. | 2,911 | ||||||
|
|
|
|||||||
| 10,519 | ||||||||
|
|
|
|||||||
| Health Care Equipment & Supplies — 0.4% |
|
|||||||
| 3 | Becton Dickinson & Co. | 825 | ||||||
| 17 | Boston Scientific Corp.(a) | 712 | ||||||
| 3 | Cooper Cos., Inc. (The) | 1,041 | ||||||
| 12 | Danaher Corp. | 1,930 | ||||||
| 10 | DENTSPLY SIRONA, Inc. | 560 | ||||||
| 3 | Edwards Lifesciences Corp.(a) | 660 | ||||||
| 34 | Globus Medical, Inc., Class A(a) | 1,777 | ||||||
| 17 | Haemonetics Corp.(a) | 1,826 | ||||||
| 28 | Hill-Rom Holdings, Inc. | 2,982 | ||||||
| 19 | Hologic, Inc.(a) | 1,017 | ||||||
| 2 | Intuitive Surgical, Inc.(a) | 1,119 | ||||||
| 99 | Meridian Bioscience, Inc. | 974 | ||||||
| 21 | Merit Medical Systems, Inc.(a) | 765 | ||||||
| 4 | STERIS PLC | 603 | ||||||
| 3 | Stryker Corp. | 632 | ||||||
| 31 | Varian Medical Systems, Inc.(a) | 4,358 | ||||||
| 21 | West Pharmaceutical Services, Inc. | 3,275 | ||||||
|
|
|
|||||||
| 25,056 | ||||||||
|
|
|
|||||||
| Health Care Providers & Services — 1.1% |
|
|||||||
| 29 | Acadia Healthcare Co., Inc.(a) | 932 | ||||||
| 10 | Amedisys, Inc.(a) | 1,765 | ||||||
| 6 | Anthem, Inc. | 1,592 | ||||||
See accompanying notes to financial statements.
| 28
Table of Contents
Portfolio of Investments – as of January 31, 2020
Natixis Sustainable Future 2015 Fund – (continued)
|
Shares |
Description | Value (†) | ||||||
| Health Care Providers & Services — continued |
|
|||||||
| 21 | BioTelemetry, Inc.(a) | $ | 1,027 | |||||
| 65 | Centene Corp.(a) | 4,083 | ||||||
| 7 | Chemed Corp. | 3,269 | ||||||
| 9 | Cigna Corp. | 1,731 | ||||||
| 171 | CVS Health Corp. | 11,597 | ||||||
| 14 | DaVita, Inc.(a) | 1,118 | ||||||
| 27 | Encompass Health Corp. | 2,080 | ||||||
| 80 | HCA Healthcare, Inc. | 11,104 | ||||||
| 23 | Henry Schein, Inc.(a) | 1,586 | ||||||
| 32 | Humana, Inc. | 10,760 | ||||||
| 16 | Laboratory Corp. of America Holdings(a) | 2,806 | ||||||
| 113 | MEDNAX, Inc.(a) | 2,607 | ||||||
| 48 | Patterson Cos., Inc. | 1,056 | ||||||
| 25 | Quest Diagnostics, Inc. | 2,767 | ||||||
| 23 | UnitedHealth Group, Inc. | 6,266 | ||||||
|
|
|
|||||||
| 68,146 | ||||||||
|
|
|
|||||||
| Health Care Technology — 0.2% |
|
|||||||
| 104 | Allscripts Healthcare Solutions, Inc.(a) | 893 | ||||||
| 163 | Cerner Corp. | 11,708 | ||||||
| 60 | HMS Holdings Corp.(a) | 1,639 | ||||||
|
|
|
|||||||
| 14,240 | ||||||||
|
|
|
|||||||
| Hotels, Restaurants & Leisure — 1.0% |
|
|||||||
| 9 | Domino’s Pizza, Inc. | 2,536 | ||||||
| 29 | Dunkin’ Brands Group, Inc. | 2,265 | ||||||
| 76 | Hilton Worldwide Holdings, Inc. | 8,193 | ||||||
| 20 | Jack in the Box, Inc. | 1,635 | ||||||
| 19 | Marriott Vacations Worldwide Corp. | 2,284 | ||||||
| 6 | McDonald’s Corp. | 1,284 | ||||||
| 357 | MGM Resorts International | 11,088 | ||||||
| 7 | Royal Caribbean Cruises Ltd. | 820 | ||||||
| 132 | Starbucks Corp. | 11,197 | ||||||
| 109 | Wendy’s Co. (The) | 2,362 | ||||||
| 309 | Yum China Holdings, Inc. | 13,309 | ||||||
| 61 | Yum! Brands, Inc. | 6,452 | ||||||
|
|
|
|||||||
| 63,425 | ||||||||
|
|
|
|||||||
| Household Durables — 0.1% |
|
|||||||
| 87 | KB Home | 3,267 | ||||||
| 65 | Meritage Homes Corp.(a) | 4,612 | ||||||
|
|
|
|||||||
| 7,879 | ||||||||
|
|
|
|||||||
| Household Products — 0.5% |
|
|||||||
| 131 | Colgate-Palmolive Co. | 9,665 | ||||||
| 161 | Procter & Gamble Co. (The) | 20,064 | ||||||
|
|
|
|||||||
| 29,729 | ||||||||
|
|
|
|||||||
| Independent Power & Renewable Electricity Producers — 0.2% |
|
|||||||
| 51 | AES Corp. (The) | 1,013 | ||||||
| 97 | Ormat Technologies, Inc. | 7,688 | ||||||
| 228 | Pattern Energy Group, Inc., Class A | 6,136 | ||||||
|
|
|
|||||||
| 14,837 | ||||||||
|
|
|
|||||||
| Industrial Conglomerates — 0.2% |
|
|||||||
| 1,047 | General Electric Co. | 13,035 | ||||||
| 6 | Honeywell International, Inc. | 1,039 | ||||||
|
|
|
|||||||
| 14,074 | ||||||||
|
|
|
|||||||
| Insurance — 0.7% |
|
|||||||
| 17 | Aflac, Inc. | 877 | ||||||
| 34 | Allstate Corp. (The) | 4,030 | ||||||
| 218 | American International Group, Inc. | 10,957 | ||||||
| 14 | Brighthouse Financial, Inc.(a) | 545 | ||||||
| 47 | Chubb Ltd. | 7,143 | ||||||
| 50 | First American Financial Corp. | 3,099 | ||||||
| Insurance — continued |
|
|||||||
| 19 | Hanover Insurance Group, Inc. (The) | $ | 2,633 | |||||
| 30 | Hartford Financial Services Group, Inc. (The) | 1,778 | ||||||
| 29 | Lincoln National Corp. | 1,580 | ||||||
| 21 | Marsh & McLennan Cos., Inc. | 2,349 | ||||||
| 61 | Prudential Financial, Inc. | 5,555 | ||||||
| 21 | Travelers Cos., Inc. (The) | 2,764 | ||||||
|
|
|
|||||||
| 43,310 | ||||||||
|
|
|
|||||||
| Interactive Media & Services — 1.4% |
|
|||||||
| 12 | Alphabet, Inc., Class A(a) | 17,193 | ||||||
| 25 | Alphabet, Inc., Class C(a) | 35,856 | ||||||
| 179 | Facebook, Inc., Class A(a) | 36,142 | ||||||
|
|
|
|||||||
| 89,191 | ||||||||
|
|
|
|||||||
| Internet & Direct Marketing Retail — 1.3% |
|
|||||||
| 131 | Alibaba Group Holding Ltd., Sponsored ADR(a) | 27,063 | ||||||
| 15 | Amazon.com, Inc.(a) | 30,131 | ||||||
| 8 | Booking Holdings, Inc.(a) | 14,644 | ||||||
| 278 | eBay, Inc. | 9,330 | ||||||
| 36 | Etsy, Inc.(a) | 1,757 | ||||||
|
|
|
|||||||
| 82,925 | ||||||||
|
|
|
|||||||
| IT Services — 1.6% |
|
|||||||
| 74 | Automatic Data Processing, Inc. | 12,683 | ||||||
| 52 | Cognizant Technology Solutions Corp., Class A | 3,192 | ||||||
| 246 | DXC Technology Co. | 7,842 | ||||||
| 10 | Fiserv, Inc.(a) | 1,186 | ||||||
| 49 | Gartner, Inc.(a) | 7,878 | ||||||
| 17 | International Business Machines Corp. | 2,443 | ||||||
| 39 | MasterCard, Inc., Class A | 12,322 | ||||||
| 19 | Paychex, Inc. | 1,630 | ||||||
| 22 | PayPal Holdings, Inc.(a) | 2,506 | ||||||
| 149 | Sabre Corp. | 3,209 | ||||||
| 7 | VeriSign, Inc.(a) | 1,457 | ||||||
| 200 | Visa, Inc., Class A | 39,794 | ||||||
| 15 | WEX, Inc.(a) | 3,254 | ||||||
|
|
|
|||||||
| 99,396 | ||||||||
|
|
|
|||||||
| Leisure Products — 0.0% |
|
|||||||
| 75 | Callaway Golf Co. | 1,607 | ||||||
|
|
|
|||||||
| Life Sciences Tools & Services — 0.2% |
|
|||||||
| 16 | Agilent Technologies, Inc. | 1,321 | ||||||
| 1 | Illumina, Inc.(a) | 290 | ||||||
| 9 | IQVIA Holdings, Inc.(a) | 1,397 | ||||||
| 27 | Repligen Corp.(a) | 2,711 | ||||||
| 12 | Thermo Fisher Scientific, Inc. | 3,758 | ||||||
| 3 | Waters Corp.(a) | 671 | ||||||
|
|
|
|||||||
| 10,148 | ||||||||
|
|
|
|||||||
| Machinery — 1.1% |
|
|||||||
| 36 | AGCO Corp. | 2,525 | ||||||
| 338 | Briggs & Stratton Corp. | 1,240 | ||||||
| 85 | Caterpillar, Inc. | 11,165 | ||||||
| 51 | Cummins, Inc. | 8,158 | ||||||
| 81 | Deere & Co. | 12,845 | ||||||
| 42 | Flowserve Corp. | 1,961 | ||||||
| 48 | ITT, Inc. | 3,220 | ||||||
| 62 | Kennametal, Inc. | 1,940 | ||||||
| 38 | Oshkosh Corp. | 3,270 | ||||||
| 73 | Parker-Hannifin Corp. | 14,285 | ||||||
| 10 | Proto Labs, Inc.(a) | 1,035 | ||||||
| 54 | Terex Corp. | 1,369 | ||||||
| 42 | Toro Co. (The) | 3,361 | ||||||
| 12 | Xylem, Inc. | 980 | ||||||
|
|
|
|||||||
| 67,354 | ||||||||
|
|
|
|||||||
See accompanying notes to financial statements.
29 |
Table of Contents
Portfolio of Investments – as of January 31, 2020
Natixis Sustainable Future 2015 Fund – (continued)
|
Shares |
Description | Value (†) | ||||||
| Media — 0.6% |
|
|||||||
| 3 | Cable One, Inc. | $ | 5,112 | |||||
| 26 | Charter Communications, Inc., Class A(a) | 13,454 | ||||||
| 249 | Comcast Corp., Class A | 10,754 | ||||||
| 16 | Discovery, Inc., Series C(a) | 444 | ||||||
| 41 | Fox Corp., Class A | 1,520 | ||||||
| 55 | Interpublic Group of Cos., Inc. (The) | 1,249 | ||||||
| 59 | New York Times Co. (The), Class A | 1,889 | ||||||
| 38 | Omnicom Group, Inc. | 2,862 | ||||||
| 44 | ViacomCBS, Inc., Class B | 1,502 | ||||||
|
|
|
|||||||
| 38,786 | ||||||||
|
|
|
|||||||
| Metals & Mining — 0.2% |
|
|||||||
| 98 | Commercial Metals Co. | 2,014 | ||||||
| 114 | Newmont Corp. | 5,137 | ||||||
| 8 | Nucor Corp. | 380 | ||||||
| 37 | Reliance Steel & Aluminum Co. | 4,247 | ||||||
| 24 | Royal Gold, Inc. | 2,768 | ||||||
|
|
|
|||||||
| 14,546 | ||||||||
|
|
|
|||||||
| Multi-Utilities — 0.2% |
|
|||||||
| 51 | Consolidated Edison, Inc. | 4,794 | ||||||
| 21 | DTE Energy Co. | 2,785 | ||||||
| 14 | Sempra Energy | 2,249 | ||||||
| 14 | WEC Energy Group, Inc. | 1,398 | ||||||
|
|
|
|||||||
| 11,226 | ||||||||
|
|
|
|||||||
| Multiline Retail — 0.1% |
|
|||||||
| 6 | Macy’s, Inc. | 96 | ||||||
| 37 | Target Corp. | 4,097 | ||||||
|
|
|
|||||||
| 4,193 | ||||||||
|
|
|
|||||||
| Oil, Gas & Consumable Fuels — 0.7% |
|
|||||||
| 343 | Apache Corp. | 9,412 | ||||||
| 73 | Concho Resources, Inc. | 5,532 | ||||||
| 501 | Denbury Resources, Inc.(a) | 493 | ||||||
| 64 | Devon Energy Corp. | 1,390 | ||||||
| 56 | Diamondback Energy, Inc. | 4,166 | ||||||
| 71 | EOG Resources, Inc. | 5,177 | ||||||
| 85 | EQT Corp. | 514 | ||||||
| 68 | Green Plains, Inc. | 848 | ||||||
| 160 | Marathon Oil Corp. | 1,819 | ||||||
| 104 | Noble Energy, Inc. | 2,056 | ||||||
| 55 | ONEOK, Inc. | 4,118 | ||||||
| 565 | Southwestern Energy Co.(a) | 887 | ||||||
| 28 | Valero Energy Corp. | 2,361 | ||||||
| 46 | World Fuel Services Corp. | 1,800 | ||||||
|
|
|
|||||||
| 40,573 | ||||||||
|
|
|
|||||||
| Paper & Forest Products — 0.1% |
|
|||||||
| 41 | Domtar Corp. | 1,428 | ||||||
| 72 | Louisiana-Pacific Corp. | 2,209 | ||||||
|
|
|
|||||||
| 3,637 | ||||||||
|
|
|
|||||||
| Personal Products — 0.0% |
|
|||||||
| 6 | Estee Lauder Cos., Inc. (The), Class A | 1,171 | ||||||
|
|
|
|||||||
| Pharmaceuticals — 0.9% |
|
|||||||
| 3 | Allergan PLC | 560 | ||||||
| 39 | Bristol-Myers Squibb Co. | 2,455 | ||||||
| 47 | Catalent, Inc.(a) | 2,872 | ||||||
| 25 | Eli Lilly & Co. | 3,491 | ||||||
| 94 | Merck & Co., Inc. | 8,031 | ||||||
| 87 | Novartis AG, Sponsored ADR | 8,222 | ||||||
| 206 | Novo Nordisk AS, Sponsored ADR | 12,531 | ||||||
| 13 | Perrigo Co. PLC | 741 | ||||||
| 137 | Pfizer, Inc. | 5,102 | ||||||
| Pharmaceuticals — continued |
|
|||||||
| 322 | Roche Holding AG, Sponsored ADR | $ | 13,460 | |||||
|
|
|
|||||||
| 57,465 | ||||||||
|
|
|
|||||||
| Professional Services — 0.1% |
|
|||||||
| 39 | Exponent, Inc. | 2,838 | ||||||
| 14 | Insperity, Inc. | 1,223 | ||||||
| 44 | Korn Ferry | 1,803 | ||||||
| 23 | ManpowerGroup, Inc. | 2,104 | ||||||
| 21 | Nielsen Holdings PLC | 429 | ||||||
|
|
|
|||||||
| 8,397 | ||||||||
|
|
|
|||||||
| Real Estate Management & Development — 0.1% |
|
|||||||
| 26 | CBRE Group, Inc., Class A(a) | 1,587 | ||||||
| 20 | Jones Lang LaSalle, Inc. | 3,397 | ||||||
|
|
|
|||||||
| 4,984 | ||||||||
|
|
|
|||||||
| REITs – Apartments — 0.2% |
|
|||||||
| 71 | American Campus Communities, Inc. | 3,257 | ||||||
| 6 | AvalonBay Communities, Inc. | 1,300 | ||||||
| 47 | Camden Property Trust | 5,284 | ||||||
| 27 | Equity Residential | 2,243 | ||||||
| 7 | Essex Property Trust, Inc. | 2,168 | ||||||
| 2 | Mid-America Apartment Communities, Inc. | 275 | ||||||
|
|
|
|||||||
| 14,527 | ||||||||
|
|
|
|||||||
| REITs – Diversified — 0.1% |
|
|||||||
| 10 | Crown Castle International Corp. | 1,498 | ||||||
| 8 | Digital Realty Trust, Inc. | 984 | ||||||
| 3 | Equinix, Inc. | 1,769 | ||||||
| 69 | Weyerhaeuser Co. | 1,998 | ||||||
|
|
|
|||||||
| 6,249 | ||||||||
|
|
|
|||||||
| REITs – Health Care — 0.1% |
|
|||||||
| 25 | Ventas, Inc. | 1,447 | ||||||
| 75 | Welltower, Inc. | 6,368 | ||||||
|
|
|
|||||||
| 7,815 | ||||||||
|
|
|
|||||||
| REITs – Hotels — 0.0% |
|
|||||||
| 80 | Host Hotels & Resorts, Inc. | 1,307 | ||||||
|
|
|
|||||||
| REITs – Office Property — 0.3% |
|
|||||||
| 11 | Boston Properties, Inc. | 1,577 | ||||||
| 107 | Corporate Office Properties Trust | 3,185 | ||||||
| 121 | Douglas Emmett, Inc. | 5,022 | ||||||
| 161 | Easterly Government Properties, Inc. | 3,898 | ||||||
| 53 | Kilroy Realty Corp. | 4,376 | ||||||
|
|
|
|||||||
| 18,058 | ||||||||
|
|
|
|||||||
| REITs – Regional Malls — 0.0% |
|
|||||||
| 10 | Simon Property Group, Inc. | 1,332 | ||||||
|
|
|
|||||||
| REITs – Storage — 0.0% |
|
|||||||
| 16 | Iron Mountain, Inc. | 506 | ||||||
| 4 | Public Storage | 895 | ||||||
|
|
|
|||||||
| 1,401 | ||||||||
|
|
|
|||||||
| REITs – Warehouse/Industrials — 0.1% |
|
|||||||
| 34 | CyrusOne, Inc. | 2,069 | ||||||
| 88 | Liberty Property Trust | 5,513 | ||||||
|
|
|
|||||||
| 7,582 | ||||||||
|
|
|
|||||||
| Road & Rail — 0.3% |
|
|||||||
| 11 | Kansas City Southern | 1,856 | ||||||
| 34 | Norfolk Southern Corp. | 7,079 | ||||||
| 35 | Ryder System, Inc. | 1,670 | ||||||
| 34 | Union Pacific Corp. | 6,100 | ||||||
|
|
|
|||||||
| 16,705 | ||||||||
|
|
|
|||||||
See accompanying notes to financial statements.
| 30
Table of Contents
Portfolio of Investments – as of January 31, 2020
Natixis Sustainable Future 2015 Fund – (continued)
See accompanying notes to financial statements.
31 |
Table of Contents
Portfolio of Investments – as of January 31, 2020
Natixis Sustainable Future 2015 Fund – (continued)
See accompanying notes to financial statements.
| 32
Table of Contents
Portfolio of Investments – as of January 31, 2020
Natixis Sustainable Future 2015 Fund – (continued)
Asset Allocation Summary at January 31, 2020
|
Fixed Income |
54.8 | % | ||
|
Equity |
43.5 | |||
|
|
|
|||
|
Total Investments |
98.3 | |||
|
Other assets less liabilities |
1.7 | |||
|
|
|
|||
|
Net Assets |
100.0 | % | ||
|
|
|
See accompanying notes to financial statements.
33 |
Table of Contents
Portfolio of Investments – as of January 31, 2020
Natixis Sustainable Future 2020 Fund
|
Shares |
Description | Value (†) | ||||||
| Common Stocks — 34.3% of Net Assets | ||||||||
| Aerospace & Defense — 0.2% |
|
|||||||
| 17 | Axon Enterprise, Inc.(a) | $ | 1,306 | |||||
| 27 | Moog, Inc., Class A | 2,419 | ||||||
| 3 | Raytheon Co. | 663 | ||||||
| 13 | Teledyne Technologies, Inc.(a) | 4,746 | ||||||
| 29 | United Technologies Corp. | 4,356 | ||||||
|
|
|
|||||||
| 13,490 | ||||||||
|
|
|
|||||||
| Air Freight & Logistics — 0.4% |
|
|||||||
| 235 | Expeditors International of Washington, Inc. | 17,164 | ||||||
| 34 | FedEx Corp. | 4,918 | ||||||
| 39 | United Parcel Service, Inc., Class B | 4,037 | ||||||
|
|
|
|||||||
| 26,119 | ||||||||
|
|
|
|||||||
| Airlines — 0.1% |
|
|||||||
| 245 | American Airlines Group, Inc. | 6,576 | ||||||
| 12 | Delta Air Lines, Inc. | 669 | ||||||
|
|
|
|||||||
| 7,245 | ||||||||
|
|
|
|||||||
| Auto Components — 0.2% |
|
|||||||
| 105 | American Axle & Manufacturing Holdings, Inc.(a) | 970 | ||||||
| 74 | Aptiv PLC | 6,274 | ||||||
| 14 | BorgWarner, Inc. | 480 | ||||||
| 111 | Delphi Technologies PLC(a) | 1,703 | ||||||
| 119 | Goodyear Tire & Rubber Co. (The) | 1,563 | ||||||
| 25 | Visteon Corp.(a) | 1,995 | ||||||
|
|
|
|||||||
| 12,985 | ||||||||
|
|
|
|||||||
| Automobiles — 0.3% |
|
|||||||
| 710 | Fiat Chrysler Automobiles NV | 9,244 | ||||||
| 281 | General Motors Co. | 9,383 | ||||||
| 26 | Thor Industries, Inc. | 2,093 | ||||||
|
|
|
|||||||
| 20,720 | ||||||||
|
|
|
|||||||
| Banks — 2.3% |
|
|||||||
| 71 | Ameris Bancorp | 2,853 | ||||||
| 123 | BancorpSouth Bank | 3,514 | ||||||
| 602 | Bank of America Corp. | 19,764 | ||||||
| 280 | Cadence BanCorp | 4,376 | ||||||
| 275 | Citigroup, Inc. | 20,463 | ||||||
| 161 | Citizens Financial Group, Inc. | 6,002 | ||||||
| 94 | Columbia Banking System, Inc. | 3,638 | ||||||
| 8 | Comerica, Inc. | 489 | ||||||
| 62 | Cullen/Frost Bankers, Inc. | 5,528 | ||||||
| 225 | Fulton Financial Corp. | 3,706 | ||||||
| 187 | Huntington Bancshares, Inc. | 2,538 | ||||||
| 114 | International Bancshares Corp. | 4,492 | ||||||
| 283 | KeyCorp | 5,295 | ||||||
| 16 | M&T Bank Corp. | 2,696 | ||||||
| 429 | People’s United Financial, Inc. | 6,615 | ||||||
| 55 | PNC Financial Services Group, Inc. (The) | 8,170 | ||||||
| 115 | Regions Financial Corp. | 1,791 | ||||||
| 102 | TCF Financial Corp. | 4,313 | ||||||
| 92 | Truist Financial Corp. | 4,744 | ||||||
| 177 | Trustmark Corp. | 5,660 | ||||||
| 237 | Wells Fargo & Co. | 11,125 | ||||||
| 47 | Wintrust Financial Corp. | 2,974 | ||||||
| 91 | Zions Bancorp N.A. | 4,140 | ||||||
|
|
|
|||||||
| 134,886 | ||||||||
|
|
|
|||||||
| Beverages — 1.0% |
|
|||||||
| 70 | Brown-Forman Corp., Class B | 4,735 | ||||||
| 281 | Coca-Cola Co. (The) | 16,410 | ||||||
| 49 | Constellation Brands, Inc., Class A | 9,227 | ||||||
| 372 | Monster Beverage Corp.(a) | 24,775 | ||||||
| Beverages — continued |
|
|||||||
| 33 | PepsiCo, Inc. | $ | 4,687 | |||||
|
|
|
|||||||
| 59,834 | ||||||||
|
|
|
|||||||
| Biotechnology — 1.0% |
|
|||||||
| 46 | AbbVie, Inc. | 3,727 | ||||||
| 58 | Amgen, Inc. | 12,531 | ||||||
| 8 | Biogen, Inc.(a) | 2,151 | ||||||
| 94 | BioMarin Pharmaceutical, Inc.(a) | 7,849 | ||||||
| 76 | Gilead Sciences, Inc. | 4,803 | ||||||
| 16 | Ligand Pharmaceuticals, Inc.(a) | 1,405 | ||||||
| 80 | Regeneron Pharmaceuticals, Inc.(a) | 27,035 | ||||||
| 4 | Vertex Pharmaceuticals, Inc.(a) | 908 | ||||||
|
|
|
|||||||
| 60,409 | ||||||||
|
|
|
|||||||
| Building Products — 0.2% |
|
|||||||
| 160 | Johnson Controls International PLC | 6,312 | ||||||
| 18 | Lennox International, Inc. | 4,194 | ||||||
|
|
|
|||||||
| 10,506 | ||||||||
|
|
|
|||||||
| Capital Markets — 2.5% |
|
|||||||
| 3 | Affiliated Managers Group, Inc. | 240 | ||||||
| 9 | Ameriprise Financial, Inc. | 1,489 | ||||||
| 325 | Bank of New York Mellon Corp. (The) | 14,553 | ||||||
| 11 | BlackRock, Inc. | 5,801 | ||||||
| 341 | Charles Schwab Corp. (The) | 15,533 | ||||||
| 16 | CME Group, Inc. | 3,474 | ||||||
| 46 | FactSet Research Systems, Inc. | 13,161 | ||||||
| 63 | Franklin Resources, Inc. | 1,594 | ||||||
| 40 | Goldman Sachs Group, Inc. (The) | 9,510 | ||||||
| 40 | Intercontinental Exchange, Inc. | 3,990 | ||||||
| 45 | Invesco Ltd. | 779 | ||||||
| 90 | Janus Henderson Group PLC | 2,274 | ||||||
| 90 | Legg Mason, Inc. | 3,523 | ||||||
| 60 | Moody’s Corp. | 15,407 | ||||||
| 48 | MSCI, Inc. | 13,718 | ||||||
| 42 | Northern Trust Corp. | 4,108 | ||||||
| 37 | S&P Global, Inc. | 10,868 | ||||||
| 203 | SEI Investments Co. | 13,248 | ||||||
| 242 | State Street Corp. | 18,302 | ||||||
|
|
|
|||||||
| 151,572 | ||||||||
|
|
|
|||||||
| Chemicals — 0.5% |
|
|||||||
| 23 | DuPont de Nemours, Inc. | 1,177 | ||||||
| 42 | Ecolab, Inc. | 8,237 | ||||||
| 49 | HB Fuller Co. | 2,264 | ||||||
| 34 | Innospec, Inc. | 3,425 | ||||||
| 10 | International Flavors & Fragrances, Inc. | 1,311 | ||||||
| 35 | Linde PLC | 7,109 | ||||||
| 43 | Minerals Technologies, Inc. | 2,328 | ||||||
| 24 | Stepan Co. | 2,368 | ||||||
|
|
|
|||||||
| 28,219 | ||||||||
|
|
|
|||||||
| Commercial Services & Supplies — 0.2% |
|
|||||||
| 40 | Healthcare Services Group, Inc. | 1,024 | ||||||
| 25 | MSA Safety, Inc. | 3,390 | ||||||
| 36 | Tetra Tech, Inc. | 3,082 | ||||||
| 35 | Waste Management, Inc. | 4,259 | ||||||
|
|
|
|||||||
| 11,755 | ||||||||
|
|
|
|||||||
| Communications Equipment — 0.5% |
|
|||||||
| 60 | Ciena Corp.(a) | 2,440 | ||||||
| 416 | Cisco Systems, Inc. | 19,124 | ||||||
| 4 | F5 Networks, Inc.(a) | 489 | ||||||
| 33 | InterDigital, Inc. | 1,823 | ||||||
| 34 | Lumentum Holdings, Inc.(a) | 2,576 | ||||||
| 14 | Motorola Solutions, Inc. | 2,478 | ||||||
|
|
|
|||||||
| 28,930 | ||||||||
|
|
|
|||||||
See accompanying notes to financial statements.
| 34
Table of Contents
Portfolio of Investments – as of January 31, 2020
Natixis Sustainable Future 2020 Fund – (continued)
|
Shares |
Description | Value (†) | ||||||
| Construction & Engineering — 0.1% |
|
|||||||
| 115 | AECOM(a) | $ | 5,546 | |||||
| 139 | Fluor Corp. | 2,487 | ||||||
|
|
|
|||||||
| 8,033 | ||||||||
|
|
|
|||||||
| Consumer Finance — 0.4% |
|
|||||||
| 27 | American Express Co. | 3,506 | ||||||
| 175 | Capital One Financial Corp. | 17,465 | ||||||
| 84 | Navient Corp. | 1,208 | ||||||
|
|
|
|||||||
| 22,179 | ||||||||
|
|
|
|||||||
| Containers & Packaging — 0.1% |
|
|||||||
| 62 | Ball Corp. | 4,475 | ||||||
| 36 | International Paper Co. | 1,466 | ||||||
| 176 | O-I Glass, Inc. | 2,221 | ||||||
|
|
|
|||||||
| 8,162 | ||||||||
|
|
|
|||||||
| Distributors — 0.1% |
|
|||||||
| 26 | Genuine Parts Co. | 2,433 | ||||||
| 17 | POOL CORP. | 3,728 | ||||||
|
|
|
|||||||
| 6,161 | ||||||||
|
|
|
|||||||
| Diversified Consumer Services — 0.1% |
|
|||||||
| 73 | Service Corp. International | 3,500 | ||||||
|
|
|
|||||||
| Diversified Telecommunication Services — 0.2% |
|
|||||||
| 133 | AT&T, Inc. | 5,004 | ||||||
| 71 | Verizon Communications, Inc. | 4,220 | ||||||
|
|
|
|||||||
| 9,224 | ||||||||
|
|
|
|||||||
| Electric Utilities — 0.3% |
|
|||||||
| 84 | American Electric Power Co., Inc. | 8,755 | ||||||
| 13 | Edison International | 995 | ||||||
| 21 | Eversource Energy | 1,941 | ||||||
| 18 | FirstEnergy Corp. | 914 | ||||||
| 34 | IDACORP, Inc. | 3,815 | ||||||
| 33 | PPL Corp. | 1,194 | ||||||
|
|
|
|||||||
| 17,614 | ||||||||
|
|
|
|||||||
| Electrical Equipment — 0.1% |
|
|||||||
| 12 | Acuity Brands, Inc. | 1,415 | ||||||
| 40 | Eaton Corp. PLC | 3,779 | ||||||
| 23 | Hubbell, Inc. | 3,294 | ||||||
|
|
|
|||||||
| 8,488 | ||||||||
|
|
|
|||||||
| Electronic Equipment, Instruments & Components — 0.5% |
|
|||||||
| 62 | Avnet, Inc. | 2,262 | ||||||
| 25 | Belden, Inc. | 1,232 | ||||||
| 64 | Cognex Corp. | 3,262 | ||||||
| 14 | Coherent, Inc.(a) | 1,980 | ||||||
| 27 | Corning, Inc. | 721 | ||||||
| 13 | Littelfuse, Inc. | 2,300 | ||||||
| 11 | Rogers Corp.(a) | 1,295 | ||||||
| 131 | TE Connectivity Ltd. | 12,076 | ||||||
| 75 | Trimble, Inc.(a) | 3,189 | ||||||
| 114 | Vishay Intertechnology, Inc. | 2,313 | ||||||
|
|
|
|||||||
| 30,630 | ||||||||
|
|
|
|||||||
| Energy Equipment & Services — 0.3% |
|
|||||||
| 36 | Apergy Corp.(a) | 931 | ||||||
| 41 | Baker Hughes Co. | 888 | ||||||
| 19 | Core Laboratories NV | 668 | ||||||
| 61 | National Oilwell Varco, Inc. | 1,257 | ||||||
| 60 | Oceaneering International, Inc.(a) | 745 | ||||||
| 53 | Oil States International, Inc.(a) | 571 | ||||||
| 311 | Schlumberger Ltd. | 10,422 | ||||||
| 42 | TechnipFMC PLC | 693 | ||||||
|
|
|
|||||||
| 16,175 | ||||||||
|
|
|
|||||||
| Entertainment — 0.7% | ||||||||
| 26 | Activision Blizzard, Inc. | 1,521 | ||||||
| 56 | Cinemark Holdings, Inc. | 1,765 | ||||||
| 17 | Electronic Arts, Inc.(a) | 1,835 | ||||||
| 59 | Netflix, Inc.(a) | 20,360 | ||||||
| 21 | Take-Two Interactive Software, Inc.(a) | 2,617 | ||||||
| 120 | Walt Disney Co. (The) | 16,597 | ||||||
|
|
|
|||||||
| 44,695 | ||||||||
|
|
|
|||||||
| Food & Staples Retailing — 0.2% |
|
|||||||
| 65 | Kroger Co. (The) | 1,746 | ||||||
| 204 | SpartanNash Co. | 2,485 | ||||||
| 22 | Sysco Corp. | 1,807 | ||||||
| 73 | Walgreens Boots Alliance, Inc. | 3,712 | ||||||
|
|
|
|||||||
| 9,750 | ||||||||
|
|
|
|||||||
| Food Products — 0.4% |
|
|||||||
| 47 | Campbell Soup Co. | 2,274 | ||||||
| 563 | Danone S.A., Sponsored ADR | 8,980 | ||||||
| 35 | General Mills, Inc. | 1,828 | ||||||
| 60 | Hain Celestial Group, Inc. (The)(a) | 1,453 | ||||||
| 5 | Hershey Co. (The) | 776 | ||||||
| 32 | Hormel Foods Corp. | 1,512 | ||||||
| 34 | Ingredion, Inc. | 2,992 | ||||||
| 11 | J.M. Smucker Co. (The) | 1,140 | ||||||
| 44 | Kellogg Co. | 3,001 | ||||||
| 4 | McCormick & Co., Inc. | 653 | ||||||
| 16 | Mondelez International, Inc., Class A | 918 | ||||||
|
|
|
|||||||
| 25,527 | ||||||||
|
|
|
|||||||
| Gas Utilities — 0.2% |
|
|||||||
| 68 | New Jersey Resources Corp. | 2,810 | ||||||
| 37 | ONE Gas, Inc. | 3,496 | ||||||
| 76 | South Jersey Industries, Inc. | 2,341 | ||||||
| 81 | UGI Corp. | 3,369 | ||||||
|
|
|
|||||||
| 12,016 | ||||||||
|
|
|
|||||||
| Health Care Equipment & Supplies — 0.5% |
|
|||||||
| 3 | Becton Dickinson & Co. | 825 | ||||||
| 19 | Boston Scientific Corp.(a) | 795 | ||||||
| 3 | Cooper Cos., Inc. (The) | 1,041 | ||||||
| 14 | Danaher Corp. | 2,252 | ||||||
| 12 | DENTSPLY SIRONA, Inc. | 672 | ||||||
| 3 | Edwards Lifesciences Corp.(a) | 660 | ||||||
| 33 | Globus Medical, Inc., Class A(a) | 1,725 | ||||||
| 17 | Haemonetics Corp.(a) | 1,826 | ||||||
| 34 | Hill-Rom Holdings, Inc. | 3,621 | ||||||
| 21 | Hologic, Inc.(a) | 1,124 | ||||||
| 2 | Intuitive Surgical, Inc.(a) | 1,120 | ||||||
| 110 | Meridian Bioscience, Inc. | 1,082 | ||||||
| 24 | Merit Medical Systems, Inc.(a) | 874 | ||||||
| 3 | STERIS PLC | 452 | ||||||
| 3 | Stryker Corp. | 632 | ||||||
| 35 | Varian Medical Systems, Inc.(a) | 4,920 | ||||||
| 24 | West Pharmaceutical Services, Inc. | 3,743 | ||||||
|
|
|
|||||||
| 27,364 | ||||||||
|
|
|
|||||||
| Health Care Providers & Services — 1.2% |
|
|||||||
| 34 | Acadia Healthcare Co., Inc.(a) | 1,093 | ||||||
| 11 | Amedisys, Inc.(a) | 1,941 | ||||||
| 6 | Anthem, Inc. | 1,592 | ||||||
| 24 | BioTelemetry, Inc.(a) | 1,174 | ||||||
| 67 | Centene Corp.(a) | 4,208 | ||||||
| 8 | Chemed Corp. | 3,736 | ||||||
| 11 | Cigna Corp. | 2,116 | ||||||
| 187 | CVS Health Corp. | 12,682 | ||||||
See accompanying notes to financial statements.
35 |
Table of Contents
Portfolio of Investments – as of January 31, 2020
Natixis Sustainable Future 2020 Fund – (continued)
|
Shares |
Description | Value (†) | ||||||
| Health Care Providers & Services — continued |
|
|||||||
| 12 | DaVita, Inc.(a) | $ | 959 | |||||
| 30 | Encompass Health Corp. | 2,311 | ||||||
| 83 | HCA Healthcare, Inc. | 11,520 | ||||||
| 23 | Henry Schein, Inc.(a) | 1,586 | ||||||
| 34 | Humana, Inc. | 11,432 | ||||||
| 15 | Laboratory Corp. of America Holdings(a) | 2,631 | ||||||
| 131 | MEDNAX, Inc.(a) | 3,022 | ||||||
| 54 | Patterson Cos., Inc. | 1,189 | ||||||
| 23 | Quest Diagnostics, Inc. | 2,545 | ||||||
| 27 | UnitedHealth Group, Inc. | 7,356 | ||||||
|
|
|
|||||||
| 73,093 | ||||||||
|
|
|
|||||||
| Health Care Technology — 0.3% |
|
|||||||
| 117 | Allscripts Healthcare Solutions, Inc.(a) | 1,004 | ||||||
| 182 | Cerner Corp. | 13,073 | ||||||
| 62 | HMS Holdings Corp.(a) | 1,694 | ||||||
|
|
|
|||||||
| 15,771 | ||||||||
|
|
|
|||||||
| Hotels, Restaurants & Leisure — 1.2% |
|
|||||||
| 10 | Domino’s Pizza, Inc. | 2,818 | ||||||
| 35 | Dunkin’ Brands Group, Inc. | 2,733 | ||||||
| 82 | Hilton Worldwide Holdings, Inc. | 8,840 | ||||||
| 21 | Jack in the Box, Inc. | 1,717 | ||||||
| 22 | Marriott Vacations Worldwide Corp. | 2,645 | ||||||
| 7 | McDonald’s Corp. | 1,498 | ||||||
| 392 | MGM Resorts International | 12,176 | ||||||
| 6 | Royal Caribbean Cruises Ltd. | 702 | ||||||
| 145 | Starbucks Corp. | 12,300 | ||||||
| 127 | Wendy’s Co. (The) | 2,752 | ||||||
| 350 | Yum China Holdings, Inc. | 15,074 | ||||||
| 70 | Yum! Brands, Inc. | 7,404 | ||||||
|
|
|
|||||||
| 70,659 | ||||||||
|
|
|
|||||||
| Household Durables — 0.2% |
|
|||||||
| 99 | KB Home | 3,717 | ||||||
| 74 | Meritage Homes Corp.(a) | 5,251 | ||||||
|
|
|
|||||||
| 8,968 | ||||||||
|
|
|
|||||||
| Household Products — 0.5% |
|
|||||||
| 143 | Colgate-Palmolive Co. | 10,551 | ||||||
| 173 | Procter & Gamble Co. (The) | 21,559 | ||||||
|
|
|
|||||||
| 32,110 | ||||||||
|
|
|
|||||||
| Independent Power & Renewable Electricity Producers — 0.3% |
|
|||||||
| 58 | AES Corp. (The) | 1,152 | ||||||
| 111 | Ormat Technologies, Inc. | 8,798 | ||||||
| 263 | Pattern Energy Group, Inc., Class A | 7,077 | ||||||
|
|
|
|||||||
| 17,027 | ||||||||
|
|
|
|||||||
| Industrial Conglomerates — 0.3% |
|
|||||||
| 1,156 | General Electric Co. | 14,392 | ||||||
| 5 | Honeywell International, Inc. | 866 | ||||||
|
|
|
|||||||
| 15,258 | ||||||||
|
|
|
|||||||
| Insurance — 0.7% |
|
|||||||
| 19 | Aflac, Inc. | 980 | ||||||
| 32 | Allstate Corp. (The) | 3,793 | ||||||
| 236 | American International Group, Inc. | 11,861 | ||||||
| 7 | Brighthouse Financial, Inc.(a) | 272 | ||||||
| 45 | Chubb Ltd. | 6,840 | ||||||
| 57 | First American Financial Corp. | 3,533 | ||||||
| 22 | Hanover Insurance Group, Inc. (The) | 3,049 | ||||||
| 35 | Hartford Financial Services Group, Inc. (The) | 2,075 | ||||||
| 33 | Lincoln National Corp. | 1,798 | ||||||
| 21 | Marsh & McLennan Cos., Inc. | 2,349 | ||||||
| 59 | Prudential Financial, Inc. | 5,372 | ||||||
| Insurance — continued |
|
|||||||
| 21 | Travelers Cos., Inc. (The) | 2,764 | ||||||
|
|
|
|||||||
| 44,686 | ||||||||
|
|
|
|||||||
| Interactive Media & Services — 1.6% |
|
|||||||
| 13 | Alphabet, Inc., Class A(a) | 18,626 | ||||||
| 27 | Alphabet, Inc., Class C(a) | 38,725 | ||||||
| 198 | Facebook, Inc., Class A(a) | 39,978 | ||||||
|
|
|
|||||||
| 97,329 | ||||||||
|
|
|
|||||||
| Internet & Direct Marketing Retail — 1.5% |
|
|||||||
| 146 | Alibaba Group Holding Ltd., Sponsored ADR(a) | 30,162 | ||||||
| 17 | Amazon.com, Inc.(a) | 34,148 | ||||||
| 8 | Booking Holdings, Inc.(a) | 14,644 | ||||||
| 308 | eBay, Inc. | 10,337 | ||||||
| 43 | Etsy, Inc.(a) | 2,099 | ||||||
|
|
|
|||||||
| 91,390 | ||||||||
|
|
|
|||||||
| IT Services — 1.8% |
|
|||||||
| 77 | Automatic Data Processing, Inc. | 13,197 | ||||||
| 51 | Cognizant Technology Solutions Corp., Class A | 3,131 | ||||||
| 267 | DXC Technology Co. | 8,512 | ||||||
| 12 | Fiserv, Inc.(a) | 1,423 | ||||||
| 53 | Gartner, Inc.(a) | 8,521 | ||||||
| 19 | International Business Machines Corp. | 2,731 | ||||||
| 44 | MasterCard, Inc., Class A | 13,901 | ||||||
| 17 | Paychex, Inc. | 1,458 | ||||||
| 25 | PayPal Holdings, Inc.(a) | 2,847 | ||||||
| 176 | Sabre Corp. | 3,791 | ||||||
| 6 | VeriSign, Inc.(a) | 1,249 | ||||||
| 225 | Visa, Inc., Class A | 44,768 | ||||||
| 16 | WEX, Inc.(a) | 3,471 | ||||||
|
|
|
|||||||
| 109,000 | ||||||||
|
|
|
|||||||
| Leisure Products — 0.0% |
|
|||||||
| 80 | Callaway Golf Co. | 1,714 | ||||||
|
|
|
|||||||
| Life Sciences Tools & Services — 0.2% |
|
|||||||
| 14 | Agilent Technologies, Inc. | 1,156 | ||||||
| 2 | Illumina, Inc.(a) | 580 | ||||||
| 7 | IQVIA Holdings, Inc.(a) | 1,087 | ||||||
| 32 | Repligen Corp.(a) | 3,212 | ||||||
| 14 | Thermo Fisher Scientific, Inc. | 4,385 | ||||||
| 3 | Waters Corp.(a) | 671 | ||||||
|
|
|
|||||||
| 11,091 | ||||||||
|
|
|
|||||||
| Machinery — 1.2% |
|
|||||||
| 42 | AGCO Corp. | 2,946 | ||||||
| 352 | Briggs & Stratton Corp. | 1,292 | ||||||
| 88 | Caterpillar, Inc. | 11,559 | ||||||
| 56 | Cummins, Inc. | 8,958 | ||||||
| 86 | Deere & Co. | 13,638 | ||||||
| 38 | Flowserve Corp. | 1,774 | ||||||
| 55 | ITT, Inc. | 3,689 | ||||||
| 72 | Kennametal, Inc. | 2,253 | ||||||
| 44 | Oshkosh Corp. | 3,786 | ||||||
| 80 | Parker-Hannifin Corp. | 15,655 | ||||||
| 12 | Proto Labs, Inc.(a) | 1,242 | ||||||
| 52 | Terex Corp. | 1,318 | ||||||
| 49 | Toro Co. (The) | 3,921 | ||||||
| 14 | Xylem, Inc. | 1,143 | ||||||
|
|
|
|||||||
| 73,174 | ||||||||
|
|
|
|||||||
| Media — 0.7% |
|
|||||||
| 2 | Cable One, Inc. | 3,408 | ||||||
| 29 | Charter Communications, Inc., Class A(a) | 15,006 | ||||||
| 270 | Comcast Corp., Class A | 11,661 | ||||||
See accompanying notes to financial statements.
| 36
Table of Contents
Portfolio of Investments – as of January 31, 2020
Natixis Sustainable Future 2020 Fund – (continued)
|
Shares |
Description | Value (†) | ||||||
| Media — continued |
|
|||||||
| 19 | Discovery, Inc., Series C(a) | $ | 528 | |||||
| 48 | Fox Corp., Class A | 1,780 | ||||||
| 46 | Interpublic Group of Cos., Inc. (The) | 1,044 | ||||||
| 63 | New York Times Co. (The), Class A | 2,016 | ||||||
| 38 | Omnicom Group, Inc. | 2,862 | ||||||
| 51 | ViacomCBS, Inc., Class B | 1,741 | ||||||
|
|
|
|||||||
| 40,046 | ||||||||
|
|
|
|||||||
| Metals & Mining — 0.3% |
|
|||||||
| 104 | Commercial Metals Co. | 2,137 | ||||||
| 112 | Newmont Corp. | 5,047 | ||||||
| 9 | Nucor Corp. | 428 | ||||||
| 43 | Reliance Steel & Aluminum Co. | 4,936 | ||||||
| 28 | Royal Gold, Inc. | 3,229 | ||||||
|
|
|
|||||||
| 15,777 | ||||||||
|
|
|
|||||||
| Multi-Utilities — 0.2% |
|
|||||||
| 49 | Consolidated Edison, Inc. | 4,606 | ||||||
| 19 | DTE Energy Co. | 2,519 | ||||||
| 12 | Sempra Energy | 1,928 | ||||||
| 12 | WEC Energy Group, Inc. | 1,199 | ||||||
|
|
|
|||||||
| 10,252 | ||||||||
|
|
|
|||||||
| Multiline Retail — 0.1% |
|
|||||||
| 7 | Macy’s, Inc. | 112 | ||||||
| 41 | Target Corp. | 4,540 | ||||||
|
|
|
|||||||
| 4,652 | ||||||||
|
|
|
|||||||
| Oil, Gas & Consumable Fuels — 0.7% |
|
|||||||
| 373 | Apache Corp. | 10,235 | ||||||
| 80 | Concho Resources, Inc. | 6,062 | ||||||
| 559 | Denbury Resources, Inc.(a) | 551 | ||||||
| 69 | Devon Energy Corp. | 1,499 | ||||||
| 61 | Diamondback Energy, Inc. | 4,538 | ||||||
| 78 | EOG Resources, Inc. | 5,687 | ||||||
| 96 | EQT Corp. | 581 | ||||||
| 76 | Green Plains, Inc. | 948 | ||||||
| 149 | Marathon Oil Corp. | 1,694 | ||||||
| 105 | Noble Energy, Inc. | 2,076 | ||||||
| 51 | ONEOK, Inc. | 3,818 | ||||||
| 590 | Southwestern Energy Co.(a) | 926 | ||||||
| 25 | Valero Energy Corp. | 2,108 | ||||||
| 54 | World Fuel Services Corp. | 2,113 | ||||||
|
|
|
|||||||
| 42,836 | ||||||||
|
|
|
|||||||
| Paper & Forest Products — 0.1% |
|
|||||||
| 39 | Domtar Corp. | 1,358 | ||||||
| 75 | Louisiana-Pacific Corp. | 2,301 | ||||||
|
|
|
|||||||
| 3,659 | ||||||||
|
|
|
|||||||
| Personal Products — 0.0% |
|
|||||||
| 7 | Estee Lauder Cos., Inc. (The), Class A | 1,366 | ||||||
|
|
|
|||||||
| Pharmaceuticals — 1.1% |
|
|||||||
| 2 | Allergan PLC | 373 | ||||||
| 45 | Bristol-Myers Squibb Co. | 2,833 | ||||||
| 55 | Catalent, Inc.(a) | 3,360 | ||||||
| 29 | Eli Lilly & Co. | 4,049 | ||||||
| 107 | Merck & Co., Inc. | 9,142 | ||||||
| 97 | Novartis AG, Sponsored ADR | 9,167 | ||||||
| 237 | Novo Nordisk AS, Sponsored ADR | 14,417 | ||||||
| 15 | Perrigo Co. PLC | 856 | ||||||
| 158 | Pfizer, Inc. | 5,884 | ||||||
| 377 | Roche Holding AG, Sponsored ADR | 15,759 | ||||||
|
|
|
|||||||
| 65,840 | ||||||||
|
|
|
|||||||
| Professional Services — 0.2% | ||||||||
| 45 | Exponent, Inc. | 3,275 | ||||||
| 16 | Insperity, Inc. | 1,398 | ||||||
| 43 | Korn Ferry | 1,762 | ||||||
| 28 | ManpowerGroup, Inc. | 2,562 | ||||||
| 24 | Nielsen Holdings PLC | 489 | ||||||
|
|
|
|||||||
| 9,486 | ||||||||
|
|
|
|||||||
| Real Estate Management & Development — 0.1% |
|
|||||||
| 30 | CBRE Group, Inc., Class A(a) | 1,831 | ||||||
| 23 | Jones Lang LaSalle, Inc. | 3,906 | ||||||
|
|
|
|||||||
| 5,737 | ||||||||
|
|
|
|||||||
| REITs – Apartments — 0.3% |
|
|||||||
| 82 | American Campus Communities, Inc. | 3,761 | ||||||
| 6 | AvalonBay Communities, Inc. | 1,300 | ||||||
| 53 | Camden Property Trust | 5,959 | ||||||
| 28 | Equity Residential | 2,326 | ||||||
| 8 | Essex Property Trust, Inc. | 2,478 | ||||||
| 3 | Mid-America Apartment Communities, Inc. | 412 | ||||||
|
|
|
|||||||
| 16,236 | ||||||||
|
|
|
|||||||
| REITs – Diversified — 0.1% |
|
|||||||
| 12 | Crown Castle International Corp. | 1,798 | ||||||
| 10 | Digital Realty Trust, Inc. | 1,230 | ||||||
| 3 | Equinix, Inc. | 1,769 | ||||||
| 79 | Weyerhaeuser Co. | 2,287 | ||||||
|
|
|
|||||||
| 7,084 | ||||||||
|
|
|
|||||||
| REITs – Health Care — 0.1% |
|
|||||||
| 25 | Ventas, Inc. | 1,447 | ||||||
| 85 | Welltower, Inc. | 7,217 | ||||||
|
|
|
|||||||
| 8,664 | ||||||||
|
|
|
|||||||
| REITs – Hotels — 0.0% |
|
|||||||
| 92 | Host Hotels & Resorts, Inc. | 1,503 | ||||||
|
|
|
|||||||
| REITs – Office Property — 0.3% |
|
|||||||
| 12 | Boston Properties, Inc. | 1,720 | ||||||
| 121 | Corporate Office Properties Trust | 3,602 | ||||||
| 137 | Douglas Emmett, Inc. | 5,686 | ||||||
| 190 | Easterly Government Properties, Inc. | 4,600 | ||||||
| 61 | Kilroy Realty Corp. | 5,037 | ||||||
|
|
|
|||||||
| 20,645 | ||||||||
|
|
|
|||||||
| REITs – Regional Malls — 0.0% |
|
|||||||
| 12 | Simon Property Group, Inc. | 1,598 | ||||||
|
|
|
|||||||
| REITs – Storage — 0.0% |
|
|||||||
| 18 | Iron Mountain, Inc. | 569 | ||||||
| 4 | Public Storage | 895 | ||||||
|
|
|
|||||||
| 1,464 | ||||||||
|
|
|
|||||||
| REITs – Warehouse/Industrials — 0.1% |
|
|||||||
| 41 | CyrusOne, Inc. | 2,495 | ||||||
| 99 | Liberty Property Trust | 6,202 | ||||||
|
|
|
|||||||
| 8,697 | ||||||||
|
|
|
|||||||
| Road & Rail — 0.3% |
|
|||||||
| 13 | Kansas City Southern | 2,193 | ||||||
| 34 | Norfolk Southern Corp. | 7,079 | ||||||
| 37 | Ryder System, Inc. | 1,766 | ||||||
| 39 | Union Pacific Corp. | 6,997 | ||||||
|
|
|
|||||||
| 18,035 | ||||||||
|
|
|
|||||||
| Semiconductors & Semiconductor Equipment — 1.3% |
|
|||||||
| 15 | Advanced Micro Devices, Inc.(a) | 705 | ||||||
| 46 | Applied Materials, Inc. | 2,668 | ||||||
| 26 | Cabot Microelectronics Corp. | 3,783 | ||||||
See accompanying notes to financial statements.
37 |
Table of Contents
Portfolio of Investments – as of January 31, 2020
Natixis Sustainable Future 2020 Fund – (continued)
See accompanying notes to financial statements.
| 38
Table of Contents
Portfolio of Investments – as of January 31, 2020
Natixis Sustainable Future 2020 Fund – (continued)
See accompanying notes to financial statements.
39 |
Table of Contents
Portfolio of Investments – as of January 31, 2020
Natixis Sustainable Future 2020 Fund – (continued)
Asset Allocation Summary at January 31, 2020
|
Equity |
50.5 | % | ||
|
Fixed Income |
47.6 | |||
|
|
|
|||
|
Total Investments |
98.1 | |||
|
Other assets less liabilities |
1.9 | |||
|
|
|
|||
|
Net Assets |
100.0 | % | ||
|
|
|
See accompanying notes to financial statements.
| 40
Table of Contents
Portfolio of Investments – as of January 31, 2020
Natixis Sustainable Future 2025 Fund
|
Shares |
Description | Value (†) | ||||||
| Common Stocks — 40.4% of Net Assets | ||||||||
| Aerospace & Defense — 0.3% |
|
|||||||
| 21 | Axon Enterprise, Inc.(a) | $ | 1,613 | |||||
| 28 | Moog, Inc., Class A | 2,509 | ||||||
| 3 | Raytheon Co. | 663 | ||||||
| 16 | Teledyne Technologies, Inc.(a) | 5,841 | ||||||
| 34 | United Technologies Corp. | 5,107 | ||||||
|
|
|
|||||||
| 15,733 | ||||||||
|
|
|
|||||||
| Air Freight & Logistics — 0.5% |
|
|||||||
| 269 | Expeditors International of Washington, Inc. | 19,648 | ||||||
| 41 | FedEx Corp. | 5,930 | ||||||
| 41 | United Parcel Service, Inc., Class B | 4,244 | ||||||
|
|
|
|||||||
| 29,822 | ||||||||
|
|
|
|||||||
| Airlines — 0.1% |
|
|||||||
| 301 | American Airlines Group, Inc. | 8,079 | ||||||
| 12 | Delta Air Lines, Inc. | 669 | ||||||
|
|
|
|||||||
| 8,748 | ||||||||
|
|
|
|||||||
| Auto Components — 0.2% |
|
|||||||
| 134 | American Axle & Manufacturing Holdings, Inc.(a) | 1,238 | ||||||
| 88 | Aptiv PLC | 7,462 | ||||||
| 13 | BorgWarner, Inc. | 446 | ||||||
| 136 | Delphi Technologies PLC(a) | 2,086 | ||||||
| 122 | Goodyear Tire & Rubber Co. (The) | 1,602 | ||||||
| 25 | Visteon Corp.(a) | 1,995 | ||||||
|
|
|
|||||||
| 14,829 | ||||||||
|
|
|
|||||||
| Automobiles — 0.4% |
|
|||||||
| 872 | Fiat Chrysler Automobiles NV | 11,353 | ||||||
| 345 | General Motors Co. | 11,520 | ||||||
| 27 | Thor Industries, Inc. | 2,174 | ||||||
|
|
|
|||||||
| 25,047 | ||||||||
|
|
|
|||||||
| Banks — 2.7% |
|
|||||||
| 82 | Ameris Bancorp | 3,296 | ||||||
| 146 | BancorpSouth Bank | 4,171 | ||||||
| 740 | Bank of America Corp. | 24,294 | ||||||
| 318 | Cadence BanCorp | 4,970 | ||||||
| 338 | Citigroup, Inc. | 25,151 | ||||||
| 200 | Citizens Financial Group, Inc. | 7,456 | ||||||
| 112 | Columbia Banking System, Inc. | 4,334 | ||||||
| 8 | Comerica, Inc. | 489 | ||||||
| 71 | Cullen/Frost Bankers, Inc. | 6,330 | ||||||
| 256 | Fulton Financial Corp. | 4,216 | ||||||
| 224 | Huntington Bancshares, Inc. | 3,040 | ||||||
| 130 | International Bancshares Corp. | 5,122 | ||||||
| 327 | KeyCorp | 6,118 | ||||||
| 19 | M&T Bank Corp. | 3,202 | ||||||
| 530 | People’s United Financial, Inc. | 8,173 | ||||||
| 65 | PNC Financial Services Group, Inc. (The) | 9,656 | ||||||
| 122 | Regions Financial Corp. | 1,900 | ||||||
| 118 | TCF Financial Corp. | 4,989 | ||||||
| 107 | Truist Financial Corp. | 5,518 | ||||||
| 201 | Trustmark Corp. | 6,428 | ||||||
| 291 | Wells Fargo & Co. | 13,659 | ||||||
| 54 | Wintrust Financial Corp. | 3,417 | ||||||
| 110 | Zions Bancorp N.A. | 5,004 | ||||||
|
|
|
|||||||
| 160,933 | ||||||||
|
|
|
|||||||
| Beverages — 1.2% |
|
|||||||
| 84 | Brown-Forman Corp., Class B | 5,682 | ||||||
| 326 | Coca-Cola Co. (The) | 19,038 | ||||||
| 60 | Constellation Brands, Inc., Class A | 11,298 | ||||||
| 423 | Monster Beverage Corp.(a) | 28,172 | ||||||
| Beverages — continued |
|
|||||||
| 38 | PepsiCo, Inc. | $ | 5,397 | |||||
|
|
|
|||||||
| 69,587 | ||||||||
|
|
|
|||||||
| Biotechnology — 1.2% |
|
|||||||
| 58 | AbbVie, Inc. | 4,699 | ||||||
| 67 | Amgen, Inc. | 14,475 | ||||||
| 12 | Biogen, Inc.(a) | 3,226 | ||||||
| 108 | BioMarin Pharmaceutical, Inc.(a) | 9,018 | ||||||
| 89 | Gilead Sciences, Inc. | 5,625 | ||||||
| 18 | Ligand Pharmaceuticals, Inc.(a) | 1,581 | ||||||
| 94 | Regeneron Pharmaceuticals, Inc.(a) | 31,767 | ||||||
| 5 | Vertex Pharmaceuticals, Inc.(a) | 1,135 | ||||||
|
|
|
|||||||
| 71,526 | ||||||||
|
|
|
|||||||
| Building Products — 0.2% |
|
|||||||
| 185 | Johnson Controls International PLC | 7,298 | ||||||
| 21 | Lennox International, Inc. | 4,893 | ||||||
|
|
|
|||||||
| 12,191 | ||||||||
|
|
|
|||||||
| Capital Markets — 3.0% |
|
|||||||
| 3 | Affiliated Managers Group, Inc. | 240 | ||||||
| 11 | Ameriprise Financial, Inc. | 1,819 | ||||||
| 394 | Bank of New York Mellon Corp. (The) | 17,643 | ||||||
| 13 | BlackRock, Inc. | 6,856 | ||||||
| 417 | Charles Schwab Corp. (The) | 18,994 | ||||||
| 19 | CME Group, Inc. | 4,125 | ||||||
| 50 | FactSet Research Systems, Inc. | 14,305 | ||||||
| 68 | Franklin Resources, Inc. | 1,720 | ||||||
| 49 | Goldman Sachs Group, Inc. (The) | 11,650 | ||||||
| 48 | Intercontinental Exchange, Inc. | 4,788 | ||||||
| 41 | Invesco Ltd. | 709 | ||||||
| 93 | Janus Henderson Group PLC | 2,350 | ||||||
| 109 | Legg Mason, Inc. | 4,267 | ||||||
| 73 | Moody’s Corp. | 18,746 | ||||||
| 56 | MSCI, Inc. | 16,005 | ||||||
| 53 | Northern Trust Corp. | 5,184 | ||||||
| 46 | S&P Global, Inc. | 13,512 | ||||||
| 233 | SEI Investments Co. | 15,206 | ||||||
| 302 | State Street Corp. | 22,840 | ||||||
|
|
|
|||||||
| 180,959 | ||||||||
|
|
|
|||||||
| Chemicals — 0.5% |
|
|||||||
| 22 | DuPont de Nemours, Inc. | 1,126 | ||||||
| 51 | Ecolab, Inc. | 10,002 | ||||||
| 57 | HB Fuller Co. | 2,634 | ||||||
| 40 | Innospec, Inc. | 4,029 | ||||||
| 8 | International Flavors & Fragrances, Inc. | 1,049 | ||||||
| 40 | Linde PLC | 8,125 | ||||||
| 43 | Minerals Technologies, Inc. | 2,328 | ||||||
| 28 | Stepan Co. | 2,762 | ||||||
|
|
|
|||||||
| 32,055 | ||||||||
|
|
|
|||||||
| Commercial Services & Supplies — 0.2% |
|
|||||||
| 51 | Healthcare Services Group, Inc. | 1,306 | ||||||
| 29 | MSA Safety, Inc. | 3,932 | ||||||
| 42 | Tetra Tech, Inc. | 3,595 | ||||||
| 42 | Waste Management, Inc. | 5,112 | ||||||
|
|
|
|||||||
| 13,945 | ||||||||
|
|
|
|||||||
| Communications Equipment — 0.6% |
|
|||||||
| 69 | Ciena Corp.(a) | 2,806 | ||||||
| 482 | Cisco Systems, Inc. | 22,158 | ||||||
| 6 | F5 Networks, Inc.(a) | 733 | ||||||
| 33 | InterDigital, Inc. | 1,823 | ||||||
| 35 | Lumentum Holdings, Inc.(a) | 2,652 | ||||||
| 17 | Motorola Solutions, Inc. | 3,009 | ||||||
|
|
|
|||||||
| 33,181 | ||||||||
|
|
|
|||||||
See accompanying notes to financial statements.
41 |
Table of Contents
Portfolio of Investments – as of January 31, 2020
Natixis Sustainable Future 2025 Fund – (continued)
|
Shares |
Description | Value (†) | ||||||
| Construction & Engineering — 0.2% |
|
|||||||
| 131 | AECOM(a) | $ | 6,318 | |||||
| 160 | Fluor Corp. | 2,862 | ||||||
|
|
|
|||||||
| 9,180 | ||||||||
|
|
|
|||||||
| Consumer Finance — 0.5% |
|
|||||||
| 32 | American Express Co. | 4,156 | ||||||
| 216 | Capital One Financial Corp. | 21,557 | ||||||
| 101 | Navient Corp. | 1,452 | ||||||
|
|
|
|||||||
| 27,165 | ||||||||
|
|
|
|||||||
| Containers & Packaging — 0.2% |
|
|||||||
| 74 | Ball Corp. | 5,341 | ||||||
| 38 | International Paper Co. | 1,548 | ||||||
| 181 | O-I Glass, Inc. | 2,284 | ||||||
|
|
|
|||||||
| 9,173 | ||||||||
|
|
|
|||||||
| Distributors — 0.1% |
|
|||||||
| 34 | Genuine Parts Co. | 3,181 | ||||||
| 20 | POOL CORP. | 4,386 | ||||||
|
|
|
|||||||
| 7,567 | ||||||||
|
|
|
|||||||
| Diversified Consumer Services — 0.1% |
|
|||||||
| 87 | Service Corp. International | 4,172 | ||||||
|
|
|
|||||||
| Diversified Telecommunication Services — 0.2% |
|
|||||||
| 159 | AT&T, Inc. | 5,982 | ||||||
| 85 | Verizon Communications, Inc. | 5,052 | ||||||
|
|
|
|||||||
| 11,034 | ||||||||
|
|
|
|||||||
| Electric Utilities — 0.3% |
|
|||||||
| 97 | American Electric Power Co., Inc. | 10,110 | ||||||
| 14 | Edison International | 1,072 | ||||||
| 25 | Eversource Energy | 2,311 | ||||||
| 18 | FirstEnergy Corp. | 914 | ||||||
| 38 | IDACORP, Inc. | 4,263 | ||||||
| 32 | PPL Corp. | 1,158 | ||||||
|
|
|
|||||||
| 19,828 | ||||||||
|
|
|
|||||||
| Electrical Equipment — 0.2% |
|
|||||||
| 14 | Acuity Brands, Inc. | 1,650 | ||||||
| 49 | Eaton Corp. PLC | 4,629 | ||||||
| 26 | Hubbell, Inc. | 3,724 | ||||||
|
|
|
|||||||
| 10,003 | ||||||||
|
|
|
|||||||
| Electronic Equipment, Instruments & Components — 0.6% |
|
|||||||
| 73 | Avnet, Inc. | 2,664 | ||||||
| 28 | Belden, Inc. | 1,380 | ||||||
| 74 | Cognex Corp. | 3,772 | ||||||
| 15 | Coherent, Inc.(a) | 2,121 | ||||||
| 25 | Corning, Inc. | 667 | ||||||
| 15 | Littelfuse, Inc. | 2,654 | ||||||
| 13 | Rogers Corp.(a) | 1,531 | ||||||
| 161 | TE Connectivity Ltd. | 14,841 | ||||||
| 89 | Trimble, Inc.(a) | 3,784 | ||||||
| 132 | Vishay Intertechnology, Inc. | 2,678 | ||||||
|
|
|
|||||||
| 36,092 | ||||||||
|
|
|
|||||||
| Energy Equipment & Services — 0.3% |
|
|||||||
| 45 | Apergy Corp.(a) | 1,164 | ||||||
| 44 | Baker Hughes Co. | 953 | ||||||
| 18 | Core Laboratories NV | 632 | ||||||
| 65 | National Oilwell Varco, Inc. | 1,340 | ||||||
| 77 | Oceaneering International, Inc.(a) | 955 | ||||||
| 68 | Oil States International, Inc.(a) | 733 | ||||||
| 372 | Schlumberger Ltd. | 12,466 | ||||||
| 45 | TechnipFMC PLC | 743 | ||||||
|
|
|
|||||||
| 18,986 | ||||||||
|
|
|
|||||||
| Entertainment — 0.9% |
|
|||||||
| 27 | Activision Blizzard, Inc. | $ | 1,579 | |||||
| 56 | Cinemark Holdings, Inc. | 1,765 | ||||||
| 14 | Electronic Arts, Inc.(a) | 1,511 | ||||||
| 72 | Netflix, Inc.(a) | 24,846 | ||||||
| 26 | Take-Two Interactive Software, Inc.(a) | 3,241 | ||||||
| 142 | Walt Disney Co. (The) | 19,640 | ||||||
|
|
|
|||||||
| 52,582 | ||||||||
|
|
|
|||||||
| Food & Staples Retailing — 0.2% |
|
|||||||
| 71 | Kroger Co. (The) | 1,907 | ||||||
| 236 | SpartanNash Co. | 2,874 | ||||||
| 27 | Sysco Corp. | 2,218 | ||||||
| 92 | Walgreens Boots Alliance, Inc. | 4,678 | ||||||
|
|
|
|||||||
| 11,677 | ||||||||
|
|
|
|||||||
| Food Products — 0.5% |
|
|||||||
| 55 | Campbell Soup Co. | 2,662 | ||||||
| 585 | Danone S.A., Sponsored ADR | 9,331 | ||||||
| 41 | General Mills, Inc. | 2,141 | ||||||
| 67 | Hain Celestial Group, Inc. (The)(a) | 1,622 | ||||||
| 7 | Hershey Co. (The) | 1,086 | ||||||
| 32 | Hormel Foods Corp. | 1,513 | ||||||
| 38 | Ingredion, Inc. | 3,344 | ||||||
| 12 | J.M. Smucker Co. (The) | 1,243 | ||||||
| 53 | Kellogg Co. | 3,615 | ||||||
| 6 | McCormick & Co., Inc. | 980 | ||||||
| 19 | Mondelez International, Inc., Class A | 1,090 | ||||||
|
|
|
|||||||
| 28,627 | ||||||||
|
|
|
|||||||
| Gas Utilities — 0.2% |
|
|||||||
| 78 | New Jersey Resources Corp. | 3,223 | ||||||
| 44 | ONE Gas, Inc. | 4,158 | ||||||
| 86 | South Jersey Industries, Inc. | 2,649 | ||||||
| 94 | UGI Corp. | 3,909 | ||||||
|
|
|
|||||||
| 13,939 | ||||||||
|
|
|
|||||||
| Health Care Equipment & Supplies — 0.5% |
|
|||||||
| 4 | Becton Dickinson & Co. | 1,101 | ||||||
| 23 | Boston Scientific Corp.(a) | 963 | ||||||
| 3 | Cooper Cos., Inc. (The) | 1,041 | ||||||
| 17 | Danaher Corp. | 2,735 | ||||||
| 11 | DENTSPLY SIRONA, Inc. | 616 | ||||||
| 2 | Edwards Lifesciences Corp.(a) | 440 | ||||||
| 41 | Globus Medical, Inc., Class A(a) | 2,143 | ||||||
| 21 | Haemonetics Corp.(a) | 2,255 | ||||||
| 38 | Hill-Rom Holdings, Inc. | 4,047 | ||||||
| 21 | Hologic, Inc.(a) | 1,124 | ||||||
| 3 | Intuitive Surgical, Inc.(a) | 1,679 | ||||||
| 140 | Meridian Bioscience, Inc. | 1,378 | ||||||
| 23 | Merit Medical Systems, Inc.(a) | 838 | ||||||
| 5 | STERIS PLC | 753 | ||||||
| 2 | Stryker Corp. | 421 | ||||||
| 39 | Varian Medical Systems, Inc.(a) | 5,482 | ||||||
| 28 | West Pharmaceutical Services, Inc. | 4,366 | ||||||
|
|
|
|||||||
| 31,382 | ||||||||
|
|
|
|||||||
| Health Care Providers & Services — 1.5% |
|
|||||||
| 43 | Acadia Healthcare Co., Inc.(a) | 1,382 | ||||||
| 14 | Amedisys, Inc.(a) | 2,471 | ||||||
| 8 | Anthem, Inc. | 2,122 | ||||||
| 30 | BioTelemetry, Inc.(a) | 1,468 | ||||||
| 76 | Centene Corp.(a) | 4,773 | ||||||
| 9 | Chemed Corp. | 4,203 | ||||||
| 13 | Cigna Corp. | 2,501 | ||||||
| 229 | CVS Health Corp. | 15,531 | ||||||
See accompanying notes to financial statements.
| 42
Table of Contents
Portfolio of Investments – as of January 31, 2020
Natixis Sustainable Future 2025 Fund – (continued)
|
Shares |
Description | Value (†) | ||||||
| Health Care Providers & Services — continued |
|
|||||||
| 15 | DaVita, Inc.(a) | $ | 1,198 | |||||
| 33 | Encompass Health Corp. | 2,542 | ||||||
| 100 | HCA Healthcare, Inc. | 13,880 | ||||||
| 24 | Henry Schein, Inc.(a) | 1,654 | ||||||
| 41 | Humana, Inc. | 13,786 | ||||||
| 17 | Laboratory Corp. of America Holdings(a) | 2,982 | ||||||
| 152 | MEDNAX, Inc.(a) | 3,507 | ||||||
| 69 | Patterson Cos., Inc. | 1,519 | ||||||
| 27 | Quest Diagnostics, Inc. | 2,988 | ||||||
| 32 | UnitedHealth Group, Inc. | 8,718 | ||||||
|
|
|
|||||||
| 87,225 | ||||||||
|
|
|
|||||||
| Health Care Technology — 0.3% |
|
|||||||
| 148 | Allscripts Healthcare Solutions, Inc.(a) | 1,270 | ||||||
| 210 | Cerner Corp. | 15,084 | ||||||
| 64 | HMS Holdings Corp.(a) | 1,749 | ||||||
|
|
|
|||||||
| 18,103 | ||||||||
|
|
|
|||||||
| Hotels, Restaurants & Leisure — 1.4% |
|
|||||||
| 12 | Domino’s Pizza, Inc. | 3,381 | ||||||
| 40 | Dunkin’ Brands Group, Inc. | 3,124 | ||||||
| 101 | Hilton Worldwide Holdings, Inc. | 10,888 | ||||||
| 22 | Jack in the Box, Inc. | 1,798 | ||||||
| 25 | Marriott Vacations Worldwide Corp. | 3,006 | ||||||
| 9 | McDonald’s Corp. | 1,926 | ||||||
| 480 | MGM Resorts International | 14,909 | ||||||
| 7 | Royal Caribbean Cruises Ltd. | 820 | ||||||
| 168 | Starbucks Corp. | 14,251 | ||||||
| 147 | Wendy’s Co. (The) | 3,185 | ||||||
| 399 | Yum China Holdings, Inc. | 17,185 | ||||||
| 79 | Yum! Brands, Inc. | 8,356 | ||||||
|
|
|
|||||||
| 82,829 | ||||||||
|
|
|
|||||||
| Household Durables — 0.2% |
|
|||||||
| 118 | KB Home | 4,431 | ||||||
| 88 | Meritage Homes Corp.(a) | 6,244 | ||||||
|
|
|
|||||||
| 10,675 | ||||||||
|
|
|
|||||||
| Household Products — 0.6% |
|
|||||||
| 161 | Colgate-Palmolive Co. | 11,879 | ||||||
| 194 | Procter & Gamble Co. (The) | 24,176 | ||||||
|
|
|
|||||||
| 36,055 | ||||||||
|
|
|
|||||||
| Independent Power & Renewable Electricity Producers — 0.3% |
|
|||||||
| 64 | AES Corp. (The) | 1,271 | ||||||
| 134 | Ormat Technologies, Inc. | 10,621 | ||||||
| 316 | Pattern Energy Group, Inc., Class A | 8,503 | ||||||
|
|
|
|||||||
| 20,395 | ||||||||
|
|
|
|||||||
| Industrial Conglomerates — 0.3% |
|
|||||||
| 1,414 | General Electric Co. | 17,604 | ||||||
| 8 | Honeywell International, Inc. | 1,386 | ||||||
|
|
|
|||||||
| 18,990 | ||||||||
|
|
|
|||||||
| Insurance — 0.9% |
|
|||||||
| 23 | Aflac, Inc. | 1,186 | ||||||
| 37 | Allstate Corp. (The) | 4,386 | ||||||
| 290 | American International Group, Inc. | 14,575 | ||||||
| 9 | Brighthouse Financial, Inc.(a) | 350 | ||||||
| 53 | Chubb Ltd. | 8,055 | ||||||
| 67 | First American Financial Corp. | 4,153 | ||||||
| 23 | Hanover Insurance Group, Inc. (The) | 3,187 | ||||||
| 42 | Hartford Financial Services Group, Inc. (The) | 2,490 | ||||||
| 38 | Lincoln National Corp. | 2,070 | ||||||
| 25 | Marsh & McLennan Cos., Inc. | 2,797 | ||||||
| 70 | Prudential Financial, Inc. | 6,374 | ||||||
| Insurance — continued |
|
|||||||
| 27 | Travelers Cos., Inc. (The) | $ | 3,554 | |||||
|
|
|
|||||||
| 53,177 | ||||||||
|
|
|
|||||||
| Interactive Media & Services — 1.9% |
|
|||||||
| 16 | Alphabet, Inc., Class A(a) | 22,924 | ||||||
| 33 | Alphabet, Inc., Class C(a) | 47,330 | ||||||
| 232 | Facebook, Inc., Class A(a) | 46,843 | ||||||
|
|
|
|||||||
| 117,097 | ||||||||
|
|
|
|||||||
| Internet & Direct Marketing Retail — 1.8% |
|
|||||||
| 168 | Alibaba Group Holding Ltd., Sponsored ADR(a) | 34,707 | ||||||
| 20 | Amazon.com, Inc.(a) | 40,174 | ||||||
| 11 | Booking Holdings, Inc.(a) | 20,136 | ||||||
| 375 | eBay, Inc. | 12,585 | ||||||
| 44 | Etsy, Inc.(a) | 2,148 | ||||||
|
|
|
|||||||
| 109,750 | ||||||||
|
|
|
|||||||
| IT Services — 2.2% |
|
|||||||
| 96 | Automatic Data Processing, Inc. | 16,453 | ||||||
| 60 | Cognizant Technology Solutions Corp., Class A | 3,683 | ||||||
| 324 | DXC Technology Co. | 10,329 | ||||||
| 14 | Fiserv, Inc.(a) | 1,661 | ||||||
| 66 | Gartner, Inc.(a) | 10,611 | ||||||
| 23 | International Business Machines Corp. | 3,306 | ||||||
| 53 | MasterCard, Inc., Class A | 16,745 | ||||||
| 21 | Paychex, Inc. | 1,801 | ||||||
| 31 | PayPal Holdings, Inc.(a) | 3,531 | ||||||
| 200 | Sabre Corp. | 4,308 | ||||||
| 8 | VeriSign, Inc.(a) | 1,665 | ||||||
| 264 | Visa, Inc., Class A | 52,528 | ||||||
| 20 | WEX, Inc.(a) | 4,338 | ||||||
|
|
|
|||||||
| 130,959 | ||||||||
|
|
|
|||||||
| Leisure Products — 0.0% |
|
|||||||
| 80 | Callaway Golf Co. | 1,714 | ||||||
|
|
|
|||||||
| Life Sciences Tools & Services — 0.2% |
|
|||||||
| 17 | Agilent Technologies, Inc. | 1,404 | ||||||
| 2 | Illumina, Inc.(a) | 580 | ||||||
| 9 | IQVIA Holdings, Inc.(a) | 1,397 | ||||||
| 37 | Repligen Corp.(a) | 3,715 | ||||||
| 17 | Thermo Fisher Scientific, Inc. | 5,324 | ||||||
| 3 | Waters Corp.(a) | 671 | ||||||
|
|
|
|||||||
| 13,091 | ||||||||
|
|
|
|||||||
| Machinery — 1.4% |
|
|||||||
| 49 | AGCO Corp. | 3,437 | ||||||
| 408 | Briggs & Stratton Corp. | 1,497 | ||||||
| 106 | Caterpillar, Inc. | 13,923 | ||||||
| 68 | Cummins, Inc. | 10,878 | ||||||
| 103 | Deere & Co. | 16,334 | ||||||
| 45 | Flowserve Corp. | 2,101 | ||||||
| 65 | ITT, Inc. | 4,360 | ||||||
| 83 | Kennametal, Inc. | 2,597 | ||||||
| 51 | Oshkosh Corp. | 4,388 | ||||||
| 94 | Parker-Hannifin Corp. | 18,395 | ||||||
| 15 | Proto Labs, Inc.(a) | 1,553 | ||||||
| 58 | Terex Corp. | 1,470 | ||||||
| 57 | Toro Co. (The) | 4,561 | ||||||
| 17 | Xylem, Inc. | 1,388 | ||||||
|
|
|
|||||||
| 86,882 | ||||||||
|
|
|
|||||||
| Media — 0.8% |
|
|||||||
| 3 | Cable One, Inc. | 5,112 | ||||||
| 35 | Charter Communications, Inc., Class A(a) | 18,111 | ||||||
| 332 | Comcast Corp., Class A | 14,339 | ||||||
See accompanying notes to financial statements.
43 |
Table of Contents
Portfolio of Investments – as of January 31, 2020
Natixis Sustainable Future 2025 Fund – (continued)
|
Shares |
Description | Value (†) | ||||||
| Media — continued |
|
|||||||
| 17 | Discovery, Inc., Series C(a) | $ | 472 | |||||
| 57 | Fox Corp., Class A | 2,114 | ||||||
| 47 | Interpublic Group of Cos., Inc. (The) | 1,067 | ||||||
| 63 | New York Times Co. (The), Class A | 2,017 | ||||||
| 46 | Omnicom Group, Inc. | 3,464 | ||||||
| 61 | ViacomCBS, Inc., Class B | 2,082 | ||||||
|
|
|
|||||||
| 48,778 | ||||||||
|
|
|
|||||||
| Metals & Mining — 0.3% |
|
|||||||
| 105 | Commercial Metals Co. | 2,158 | ||||||
| 141 | Newmont Corp. | 6,353 | ||||||
| 8 | Nucor Corp. | 380 | ||||||
| 50 | Reliance Steel & Aluminum Co. | 5,740 | ||||||
| 32 | Royal Gold, Inc. | 3,690 | ||||||
|
|
|
|||||||
| 18,321 | ||||||||
|
|
|
|||||||
| Multi-Utilities — 0.2% |
|
|||||||
| 57 | Consolidated Edison, Inc. | 5,358 | ||||||
| 26 | DTE Energy Co. | 3,448 | ||||||
| 15 | Sempra Energy | 2,410 | ||||||
| 15 | WEC Energy Group, Inc. | 1,498 | ||||||
|
|
|
|||||||
| 12,714 | ||||||||
|
|
|
|||||||
| Multiline Retail — 0.1% |
|
|||||||
| 6 | Macy’s, Inc. | 95 | ||||||
| 47 | Target Corp. | 5,205 | ||||||
|
|
|
|||||||
| 5,300 | ||||||||
|
|
|
|||||||
| Oil, Gas & Consumable Fuels — 0.8% |
|
|||||||
| 452 | Apache Corp. | 12,403 | ||||||
| 98 | Concho Resources, Inc. | 7,426 | ||||||
| 562 | Denbury Resources, Inc.(a) | 554 | ||||||
| 68 | Devon Energy Corp. | 1,477 | ||||||
| 75 | Diamondback Energy, Inc. | 5,580 | ||||||
| 95 | EOG Resources, Inc. | 6,927 | ||||||
| 122 | EQT Corp. | 738 | ||||||
| 96 | Green Plains, Inc. | 1,197 | ||||||
| 172 | Marathon Oil Corp. | 1,956 | ||||||
| 110 | Noble Energy, Inc. | 2,175 | ||||||
| 59 | ONEOK, Inc. | 4,417 | ||||||
| 606 | Southwestern Energy Co.(a) | 951 | ||||||
| 30 | Valero Energy Corp. | 2,529 | ||||||
| 56 | World Fuel Services Corp. | 2,191 | ||||||
|
|
|
|||||||
| 50,521 | ||||||||
|
|
|
|||||||
| Paper & Forest Products — 0.1% |
|
|||||||
| 44 | Domtar Corp. | 1,532 | ||||||
| 87 | Louisiana-Pacific Corp. | 2,669 | ||||||
|
|
|
|||||||
| 4,201 | ||||||||
|
|
|
|||||||
| Personal Products — 0.0% |
|
|||||||
| 9 | Estee Lauder Cos., Inc. (The), Class A | 1,756 | ||||||
|
|
|
|||||||
| Pharmaceuticals — 1.3% |
|
|||||||
| 3 | Allergan PLC | 560 | ||||||
| 54 | Bristol-Myers Squibb Co. | 3,399 | ||||||
| 63 | Catalent, Inc.(a) | 3,849 | ||||||
| 34 | Eli Lilly & Co. | 4,748 | ||||||
| 127 | Merck & Co., Inc. | 10,851 | ||||||
| 114 | Novartis AG, Sponsored ADR | 10,774 | ||||||
| 268 | Novo Nordisk AS, Sponsored ADR | 16,302 | ||||||
| 14 | Perrigo Co. PLC | 799 | ||||||
| 190 | Pfizer, Inc. | 7,076 | ||||||
| 433 | Roche Holding AG, Sponsored ADR | 18,099 | ||||||
|
|
|
|||||||
| 76,457 | ||||||||
|
|
|
|||||||
| Professional Services — 0.2% |
|
|||||||
| 52 | Exponent, Inc. | $ | 3,784 | |||||
| 18 | Insperity, Inc. | 1,572 | ||||||
| 48 | Korn Ferry | 1,967 | ||||||
| 28 | ManpowerGroup, Inc. | 2,562 | ||||||
| 22 | Nielsen Holdings PLC | 449 | ||||||
|
|
|
|||||||
| 10,334 | ||||||||
|
|
|
|||||||
| Real Estate Management & Development — 0.1% |
|
|||||||
| 36 | CBRE Group, Inc., Class A(a) | 2,198 | ||||||
| 27 | Jones Lang LaSalle, Inc. | 4,585 | ||||||
|
|
|
|||||||
| 6,783 | ||||||||
|
|
|
|||||||
| REITs – Apartments — 0.3% |
|
|||||||
| 95 | American Campus Communities, Inc. | 4,358 | ||||||
| 8 | AvalonBay Communities, Inc. | 1,733 | ||||||
| 63 | Camden Property Trust | 7,083 | ||||||
| 33 | Equity Residential | 2,742 | ||||||
| 10 | Essex Property Trust, Inc. | 3,098 | ||||||
| 2 | Mid-America Apartment Communities, Inc. | 274 | ||||||
|
|
|
|||||||
| 19,288 | ||||||||
|
|
|
|||||||
| REITs – Diversified — 0.1% |
|
|||||||
| 14 | Crown Castle International Corp. | 2,098 | ||||||
| 8 | Digital Realty Trust, Inc. | 984 | ||||||
| 4 | Equinix, Inc. | 2,359 | ||||||
| 88 | Weyerhaeuser Co. | 2,547 | ||||||
|
|
|
|||||||
| 7,988 | ||||||||
|
|
|
|||||||
| REITs – Health Care — 0.2% |
|
|||||||
| 27 | Ventas, Inc. | 1,562 | ||||||
| 100 | Welltower, Inc. | 8,491 | ||||||
|
|
|
|||||||
| 10,053 | ||||||||
|
|
|
|||||||
| REITs – Hotels — 0.0% |
|
|||||||
| 92 | Host Hotels & Resorts, Inc. | 1,503 | ||||||
|
|
|
|||||||
| REITs – Office Property — 0.4% |
|
|||||||
| 14 | Boston Properties, Inc. | 2,007 | ||||||
| 143 | Corporate Office Properties Trust | 4,257 | ||||||
| 162 | Douglas Emmett, Inc. | 6,723 | ||||||
| 216 | Easterly Government Properties, Inc. | 5,229 | ||||||
| 72 | Kilroy Realty Corp. | 5,945 | ||||||
|
|
|
|||||||
| 24,161 | ||||||||
|
|
|
|||||||
| REITs – Regional Malls — 0.0% |
|
|||||||
| 15 | Simon Property Group, Inc. | 1,997 | ||||||
|
|
|
|||||||
| REITs – Storage — 0.0% |
|
|||||||
| 16 | Iron Mountain, Inc. | 506 | ||||||
| 5 | Public Storage | 1,119 | ||||||
|
|
|
|||||||
| 1,625 | ||||||||
|
|
|
|||||||
| REITs – Warehouse/Industrials — 0.2% |
|
|||||||
| 46 | CyrusOne, Inc. | 2,799 | ||||||
| 118 | Liberty Property Trust | 7,393 | ||||||
|
|
|
|||||||
| 10,192 | ||||||||
|
|
|
|||||||
| Road & Rail — 0.4% |
|
|||||||
| 15 | Kansas City Southern | 2,530 | ||||||
| 41 | Norfolk Southern Corp. | 8,536 | ||||||
| 37 | Ryder System, Inc. | 1,766 | ||||||
| 47 | Union Pacific Corp. | 8,433 | ||||||
|
|
|
|||||||
| 21,265 | ||||||||
|
|
|
|||||||
| Semiconductors & Semiconductor Equipment — 1.5% |
|
|||||||
| 14 | Advanced Micro Devices, Inc.(a) | 658 | ||||||
| 55 | Applied Materials, Inc. | 3,189 | ||||||
| 30 | Cabot Microelectronics Corp. | 4,365 | ||||||
See accompanying notes to financial statements.
| 44
Table of Contents
Portfolio of Investments – as of January 31, 2020
Natixis Sustainable Future 2025 Fund – (continued)
See accompanying notes to financial statements.
45 |
Table of Contents
Portfolio of Investments – as of January 31, 2020
Natixis Sustainable Future 2025 Fund – (continued)
See accompanying notes to financial statements.
| 46
Table of Contents
Portfolio of Investments – as of January 31, 2020
Natixis Sustainable Future 2025 Fund – (continued)
Asset Allocation Summary at January 31, 2020
|
Equity |
61.0 | % | ||
|
Fixed Income |
37.9 | |||
|
|
|
|||
|
Total Investments |
98.9 | |||
|
Other assets less liabilities |
1.1 | |||
|
|
|
|||
|
Net Assets |
100.0 | % | ||
|
|
|
See accompanying notes to financial statements.
47 |
Table of Contents
Portfolio of Investments – as of January 31, 2020
Natixis Sustainable Future 2030 Fund
|
Shares |
Description | Value (†) | ||||||
| Common Stocks — 43.4% of Net Assets | ||||||||
| Aerospace & Defense — 0.3% |
|
|||||||
| 27 | Axon Enterprise, Inc.(a) | $ | 2,074 | |||||
| 39 | Moog, Inc., Class A | 3,495 | ||||||
| 5 | Raytheon Co. | 1,104 | ||||||
| 19 | Teledyne Technologies, Inc.(a) | 6,936 | ||||||
| 45 | United Technologies Corp. | 6,759 | ||||||
|
|
|
|||||||
| 20,368 | ||||||||
|
|
|
|||||||
| Air Freight & Logistics — 0.5% |
|
|||||||
| 236 | Expeditors International of Washington, Inc. | 17,237 | ||||||
| 48 | FedEx Corp. | 6,943 | ||||||
| 57 | United Parcel Service, Inc., Class B | 5,901 | ||||||
|
|
|
|||||||
| 30,081 | ||||||||
|
|
|
|||||||
| Airlines — 0.2% |
|
|||||||
| 351 | American Airlines Group, Inc. | 9,421 | ||||||
| 18 | Delta Air Lines, Inc. | 1,003 | ||||||
|
|
|
|||||||
| 10,424 | ||||||||
|
|
|
|||||||
| Auto Components — 0.3% |
|
|||||||
| 155 | American Axle & Manufacturing Holdings, Inc.(a) | 1,432 | ||||||
| 107 | Aptiv PLC | 9,073 | ||||||
| 23 | BorgWarner, Inc. | 789 | ||||||
| 158 | Delphi Technologies PLC(a) | 2,424 | ||||||
| 172 | Goodyear Tire & Rubber Co. (The) | 2,258 | ||||||
| 35 | Visteon Corp.(a) | 2,793 | ||||||
|
|
|
|||||||
| 18,769 | ||||||||
|
|
|
|||||||
| Automobiles — 0.5% |
|
|||||||
| 1,013 | Fiat Chrysler Automobiles NV | 13,189 | ||||||
| 400 | General Motors Co. | 13,356 | ||||||
| 35 | Thor Industries, Inc. | 2,818 | ||||||
|
|
|
|||||||
| 29,363 | ||||||||
|
|
|
|||||||
| Banks — 3.1% |
|
|||||||
| 98 | Ameris Bancorp | 3,939 | ||||||
| 175 | BancorpSouth Bank | 5,000 | ||||||
| 859 | Bank of America Corp. | 28,201 | ||||||
| 381 | Cadence BanCorp | 5,955 | ||||||
| 389 | Citigroup, Inc. | 28,945 | ||||||
| 229 | Citizens Financial Group, Inc. | 8,537 | ||||||
| 133 | Columbia Banking System, Inc. | 5,147 | ||||||
| 14 | Comerica, Inc. | 856 | ||||||
| 85 | Cullen/Frost Bankers, Inc. | 7,579 | ||||||
| 306 | Fulton Financial Corp. | 5,040 | ||||||
| 250 | Huntington Bancshares, Inc. | 3,393 | ||||||
| 155 | International Bancshares Corp. | 6,107 | ||||||
| 396 | KeyCorp | 7,409 | ||||||
| 25 | M&T Bank Corp. | 4,213 | ||||||
| 610 | People’s United Financial, Inc. | 9,406 | ||||||
| 85 | PNC Financial Services Group, Inc. (The) | 12,627 | ||||||
| 176 | Regions Financial Corp. | 2,740 | ||||||
| 141 | TCF Financial Corp. | 5,961 | ||||||
| 140 | Truist Financial Corp. | 7,220 | ||||||
| 241 | Trustmark Corp. | 7,707 | ||||||
| 338 | Wells Fargo & Co. | 15,866 | ||||||
| 65 | Wintrust Financial Corp. | 4,113 | ||||||
| 122 | Zions Bancorp N.A. | 5,550 | ||||||
|
|
|
|||||||
| 191,511 | ||||||||
|
|
|
|||||||
| Beverages — 1.1% |
|
|||||||
| 94 | Brown-Forman Corp., Class B | 6,358 | ||||||
| 353 | Coca-Cola Co. (The) | 20,615 | ||||||
| 70 | Constellation Brands, Inc., Class A | 13,181 | ||||||
| 368 | Monster Beverage Corp.(a) | 24,509 | ||||||
| 51 | PepsiCo, Inc. | 7,243 | ||||||
|
|
|
|||||||
| 71,906 | ||||||||
|
|
|
|||||||
| Biotechnology — 1.2% |
|
|||||||
| 68 | AbbVie, Inc. | $ | 5,509 | |||||
| 71 | Amgen, Inc. | 15,340 | ||||||
| 13 | Biogen, Inc.(a) | 3,495 | ||||||
| 94 | BioMarin Pharmaceutical, Inc.(a) | 7,849 | ||||||
| 114 | Gilead Sciences, Inc. | 7,205 | ||||||
| 23 | Ligand Pharmaceuticals, Inc.(a) | 2,020 | ||||||
| 97 | Regeneron Pharmaceuticals, Inc.(a) | 32,780 | ||||||
| 4 | Vertex Pharmaceuticals, Inc.(a) | 908 | ||||||
|
|
|
|||||||
| 75,106 | ||||||||
|
|
|
|||||||
| Building Products — 0.2% |
|
|||||||
| 243 | Johnson Controls International PLC | 9,586 | ||||||
| 25 | Lennox International, Inc. | 5,825 | ||||||
|
|
|
|||||||
| 15,411 | ||||||||
|
|
|
|||||||
| Capital Markets — 3.2% |
|
|||||||
| 6 | Affiliated Managers Group, Inc. | 479 | ||||||
| 12 | Ameriprise Financial, Inc. | 1,985 | ||||||
| 468 | Bank of New York Mellon Corp. (The) | 20,957 | ||||||
| 16 | BlackRock, Inc. | 8,438 | ||||||
| 483 | Charles Schwab Corp. (The) | 22,001 | ||||||
| 22 | CME Group, Inc. | 4,776 | ||||||
| 53 | FactSet Research Systems, Inc. | 15,164 | ||||||
| 99 | Franklin Resources, Inc. | 2,505 | ||||||
| 57 | Goldman Sachs Group, Inc. (The) | 13,552 | ||||||
| 57 | Intercontinental Exchange, Inc. | 5,685 | ||||||
| 47 | Invesco Ltd. | 813 | ||||||
| 125 | Janus Henderson Group PLC | 3,159 | ||||||
| 127 | Legg Mason, Inc. | 4,972 | ||||||
| 85 | Moody’s Corp. | 21,827 | ||||||
| 51 | MSCI, Inc. | 14,576 | ||||||
| 62 | Northern Trust Corp. | 6,064 | ||||||
| 52 | S&P Global, Inc. | 15,274 | ||||||
| 202 | SEI Investments Co. | 13,182 | ||||||
| 346 | State Street Corp. | 26,168 | ||||||
|
|
|
|||||||
| 201,577 | ||||||||
|
|
|
|||||||
| Chemicals — 0.6% |
|
|||||||
| 29 | DuPont de Nemours, Inc. | 1,484 | ||||||
| 57 | Ecolab, Inc. | 11,178 | ||||||
| 68 | HB Fuller Co. | 3,142 | ||||||
| 49 | Innospec, Inc. | 4,936 | ||||||
| 13 | International Flavors & Fragrances, Inc. | 1,704 | ||||||
| 53 | Linde PLC | 10,766 | ||||||
| 60 | Minerals Technologies, Inc. | 3,248 | ||||||
| 33 | Stepan Co. | 3,256 | ||||||
|
|
|
|||||||
| 39,714 | ||||||||
|
|
|
|||||||
| Commercial Services & Supplies — 0.3% |
|
|||||||
| 64 | Healthcare Services Group, Inc. | 1,639 | ||||||
| 35 | MSA Safety, Inc. | 4,746 | ||||||
| 52 | Tetra Tech, Inc. | 4,451 | ||||||
| 47 | Waste Management, Inc. | 5,720 | ||||||
|
|
|
|||||||
| 16,556 | ||||||||
|
|
|
|||||||
| Communications Equipment — 0.6% |
|
|||||||
| 82 | Ciena Corp.(a) | 3,335 | ||||||
| 469 | Cisco Systems, Inc. | 21,560 | ||||||
| 9 | F5 Networks, Inc.(a) | 1,099 | ||||||
| 46 | InterDigital, Inc. | 2,542 | ||||||
| 46 | Lumentum Holdings, Inc.(a) | 3,485 | ||||||
| 18 | Motorola Solutions, Inc. | 3,186 | ||||||
|
|
|
|||||||
| 35,207 | ||||||||
|
|
|
|||||||
| Construction & Engineering — 0.2% |
|
|||||||
| 157 | AECOM(a) | 7,572 | ||||||
See accompanying notes to financial statements.
| 48
Table of Contents
Portfolio of Investments – as of January 31, 2020
Natixis Sustainable Future 2030 Fund – (continued)
|
Shares |
Description | Value (†) | ||||||
| Construction & Engineering — (continued) |
|
|||||||
| 192 | Fluor Corp. | $ | 3,435 | |||||
|
|
|
|||||||
| 11,007 | ||||||||
|
|
|
|||||||
| Consumer Finance — 0.5% |
|
|||||||
| 42 | American Express Co. | 5,454 | ||||||
| 250 | Capital One Financial Corp. | 24,950 | ||||||
| 112 | Navient Corp. | 1,611 | ||||||
|
|
|
|||||||
| 32,015 | ||||||||
|
|
|
|||||||
| Containers & Packaging — 0.2% |
|
|||||||
| 89 | Ball Corp. | 6,424 | ||||||
| 55 | International Paper Co. | 2,240 | ||||||
| 244 | O-I Glass, Inc. | 3,079 | ||||||
|
|
|
|||||||
| 11,743 | ||||||||
|
|
|
|||||||
| Distributors — 0.1% |
|
|||||||
| 39 | Genuine Parts Co. | 3,649 | ||||||
| 23 | POOL CORP. | 5,044 | ||||||
|
|
|
|||||||
| 8,693 | ||||||||
|
|
|
|||||||
| Diversified Consumer Services — 0.1% |
|
|||||||
| 103 | Service Corp. International | 4,939 | ||||||
|
|
|
|||||||
| Diversified Telecommunication Services — 0.2% |
|
|||||||
| 178 | AT&T, Inc. | 6,696 | ||||||
| 95 | Verizon Communications, Inc. | 5,647 | ||||||
|
|
|
|||||||
| 12,343 | ||||||||
|
|
|
|||||||
| Electric Utilities — 0.4% |
|
|||||||
| 127 | American Electric Power Co., Inc. | 13,236 | ||||||
| 21 | Edison International | 1,608 | ||||||
| 32 | Eversource Energy | 2,958 | ||||||
| 27 | FirstEnergy Corp. | 1,371 | ||||||
| 46 | IDACORP, Inc. | 5,161 | ||||||
| 48 | PPL Corp. | 1,737 | ||||||
|
|
|
|||||||
| 26,071 | ||||||||
|
|
|
|||||||
| Electrical Equipment — 0.2% |
|
|||||||
| 18 | Acuity Brands, Inc. | 2,122 | ||||||
| 58 | Eaton Corp. PLC | 5,479 | ||||||
| 32 | Hubbell, Inc. | 4,583 | ||||||
|
|
|
|||||||
| 12,184 | ||||||||
|
|
|
|||||||
| Electronic Equipment, Instruments & Components — 0.7% |
|
|||||||
| 87 | Avnet, Inc. | 3,175 | ||||||
| 36 | Belden, Inc. | 1,774 | ||||||
| 91 | Cognex Corp. | 4,638 | ||||||
| 19 | Coherent, Inc.(a) | 2,687 | ||||||
| 44 | Corning, Inc. | 1,174 | ||||||
| 17 | Littelfuse, Inc. | 3,007 | ||||||
| 17 | Rogers Corp.(a) | 2,002 | ||||||
| 186 | TE Connectivity Ltd. | 17,145 | ||||||
| 106 | Trimble, Inc.(a) | 4,507 | ||||||
| 157 | Vishay Intertechnology, Inc. | 3,186 | ||||||
|
|
|
|||||||
| 43,295 | ||||||||
|
|
|
|||||||
| Energy Equipment & Services — 0.3% |
|
|||||||
| 55 | Apergy Corp.(a) | 1,422 | ||||||
| 67 | Baker Hughes Co. | 1,451 | ||||||
| 30 | Core Laboratories NV | 1,054 | ||||||
| 94 | National Oilwell Varco, Inc. | 1,937 | ||||||
| 93 | Oceaneering International, Inc.(a) | 1,154 | ||||||
| 82 | Oil States International, Inc.(a) | 884 | ||||||
| 346 | Schlumberger Ltd. | 11,595 | ||||||
| 67 | TechnipFMC PLC | 1,106 | ||||||
|
|
|
|||||||
| 20,603 | ||||||||
|
|
|
|||||||
| Entertainment — 1.0% |
|
|||||||
| 35 | Activision Blizzard, Inc. | $ | 2,047 | |||||
| 75 | Cinemark Holdings, Inc. | 2,363 | ||||||
| 23 | Electronic Arts, Inc.(a) | 2,482 | ||||||
| 83 | Netflix, Inc.(a) | 28,642 | ||||||
| 28 | Take-Two Interactive Software, Inc.(a) | 3,490 | ||||||
| 173 | Walt Disney Co. (The) | 23,928 | ||||||
|
|
|
|||||||
| 62,952 | ||||||||
|
|
|
|||||||
| Food & Staples Retailing — 0.2% |
|
|||||||
| 101 | Kroger Co. (The) | 2,713 | ||||||
| 282 | SpartanNash Co. | 3,435 | ||||||
| 30 | Sysco Corp. | 2,464 | ||||||
| 105 | Walgreens Boots Alliance, Inc. | 5,339 | ||||||
|
|
|
|||||||
| 13,951 | ||||||||
|
|
|
|||||||
| Food Products — 0.5% |
|
|||||||
| 72 | Campbell Soup Co. | 3,484 | ||||||
| 559 | Danone S.A., Sponsored ADR | 8,916 | ||||||
| 53 | General Mills, Inc. | 2,768 | ||||||
| 95 | Hain Celestial Group, Inc. (The)(a) | 2,300 | ||||||
| 7 | Hershey Co. (The) | 1,086 | ||||||
| 41 | Hormel Foods Corp. | 1,938 | ||||||
| 46 | Ingredion, Inc. | 4,048 | ||||||
| 17 | J.M. Smucker Co. (The) | 1,761 | ||||||
| 63 | Kellogg Co. | 4,297 | ||||||
| 7 | McCormick & Co., Inc. | 1,144 | ||||||
| 13 | Mondelez International, Inc., Class A | 746 | ||||||
|
|
|
|||||||
| 32,488 | ||||||||
|
|
|
|||||||
| Gas Utilities — 0.3% |
|
|||||||
| 93 | New Jersey Resources Corp. | 3,843 | ||||||
| 53 | ONE Gas, Inc. | 5,008 | ||||||
| 102 | South Jersey Industries, Inc. | 3,142 | ||||||
| 112 | UGI Corp. | 4,658 | ||||||
|
|
|
|||||||
| 16,651 | ||||||||
|
|
|
|||||||
| Health Care Equipment & Supplies — 0.6% |
|
|||||||
| 4 | Becton Dickinson & Co. | 1,101 | ||||||
| 16 | Boston Scientific Corp.(a) | 670 | ||||||
| 5 | Cooper Cos., Inc. (The) | 1,734 | ||||||
| 18 | Danaher Corp. | 2,896 | ||||||
| 19 | DENTSPLY SIRONA, Inc. | 1,064 | ||||||
| 2 | Edwards Lifesciences Corp.(a) | 440 | ||||||
| 51 | Globus Medical, Inc., Class A(a) | 2,666 | ||||||
| 26 | Haemonetics Corp.(a) | 2,792 | ||||||
| 46 | Hill-Rom Holdings, Inc. | 4,899 | ||||||
| 26 | Hologic, Inc.(a) | 1,392 | ||||||
| 3 | Intuitive Surgical, Inc.(a) | 1,679 | ||||||
| 162 | Meridian Bioscience, Inc. | 1,594 | ||||||
| 38 | Merit Medical Systems, Inc.(a) | 1,384 | ||||||
| 7 | STERIS PLC | 1,055 | ||||||
| 2 | Stryker Corp. | 421 | ||||||
| 36 | Varian Medical Systems, Inc.(a) | 5,060 | ||||||
| 33 | West Pharmaceutical Services, Inc. | 5,146 | ||||||
|
|
|
|||||||
| 35,993 | ||||||||
|
|
|
|||||||
| Health Care Providers & Services — 1.7% |
|
|||||||
| 53 | Acadia Healthcare Co., Inc.(a) | 1,703 | ||||||
| 17 | Amedisys, Inc.(a) | 3,000 | ||||||
| 9 | Anthem, Inc. | 2,388 | ||||||
| 38 | BioTelemetry, Inc.(a) | 1,859 | ||||||
| 90 | Centene Corp.(a) | 5,653 | ||||||
| 11 | Chemed Corp. | 5,137 | ||||||
| 14 | Cigna Corp. | 2,693 | ||||||
| 264 | CVS Health Corp. | 17,905 | ||||||
See accompanying notes to financial statements.
49 |
Table of Contents
Portfolio of Investments – as of January 31, 2020
Natixis Sustainable Future 2030 Fund – (continued)
|
Shares |
Description | Value (†) | ||||||
| Health Care Providers & Services — (continued) |
|
|||||||
| 19 | DaVita, Inc.(a) | $ | 1,518 | |||||
| 44 | Encompass Health Corp. | 3,389 | ||||||
| 120 | HCA Healthcare, Inc. | 16,656 | ||||||
| 31 | Henry Schein, Inc.(a) | 2,137 | ||||||
| 49 | Humana, Inc. | 16,476 | ||||||
| 23 | Laboratory Corp. of America Holdings(a) | 4,034 | ||||||
| 186 | MEDNAX, Inc.(a) | 4,291 | ||||||
| 86 | Patterson Cos., Inc. | 1,893 | ||||||
| 36 | Quest Diagnostics, Inc. | 3,984 | ||||||
| 36 | UnitedHealth Group, Inc. | 9,808 | ||||||
|
|
|
|||||||
| 104,524 | ||||||||
|
|
|
|||||||
| Health Care Technology — 0.3% |
|
|||||||
| 184 | Allscripts Healthcare Solutions, Inc.(a) | 1,579 | ||||||
| 185 | Cerner Corp. | 13,288 | ||||||
| 85 | HMS Holdings Corp.(a) | 2,322 | ||||||
|
|
|
|||||||
| 17,189 | ||||||||
|
|
|
|||||||
| Hotels, Restaurants & Leisure — 1.4% |
|
|||||||
| 15 | Domino’s Pizza, Inc. | 4,226 | ||||||
| 47 | Dunkin’ Brands Group, Inc. | 3,670 | ||||||
| 117 | Hilton Worldwide Holdings, Inc. | 12,613 | ||||||
| 30 | Jack in the Box, Inc. | 2,453 | ||||||
| 30 | Marriott Vacations Worldwide Corp. | 3,607 | ||||||
| 10 | McDonald’s Corp. | 2,140 | ||||||
| 552 | MGM Resorts International | 17,145 | ||||||
| 11 | Royal Caribbean Cruises Ltd. | 1,288 | ||||||
| 153 | Starbucks Corp. | 12,979 | ||||||
| 181 | Wendy’s Co. (The) | 3,922 | ||||||
| 344 | Yum China Holdings, Inc. | 14,816 | ||||||
| 69 | Yum! Brands, Inc. | 7,298 | ||||||
|
|
|
|||||||
| 86,157 | ||||||||
|
|
|
|||||||
| Household Durables — 0.2% |
|
|||||||
| 140 | KB Home | 5,257 | ||||||
| 106 | Meritage Homes Corp.(a) | 7,522 | ||||||
|
|
|
|||||||
| 12,779 | ||||||||
|
|
|
|||||||
| Household Products — 0.6% |
|
|||||||
| 160 | Colgate-Palmolive Co. | 11,805 | ||||||
| 220 | Procter & Gamble Co. (The) | 27,416 | ||||||
|
|
|
|||||||
| 39,221 | ||||||||
|
|
|
|||||||
| Independent Power & Renewable Electricity Producers — 0.4% |
|
|||||||
| 94 | AES Corp. (The) | 1,867 | ||||||
| 149 | Ormat Technologies, Inc. | 11,810 | ||||||
| 353 | Pattern Energy Group, Inc., Class A | 9,499 | ||||||
|
|
|
|||||||
| 23,176 | ||||||||
|
|
|
|||||||
| Industrial Conglomerates — 0.3% |
|
|||||||
| 1,632 | General Electric Co. | 20,318 | ||||||
| 8 | Honeywell International, Inc. | 1,386 | ||||||
|
|
|
|||||||
| 21,704 | ||||||||
|
|
|
|||||||
| Insurance — 1.0% |
|
|||||||
| 26 | Aflac, Inc. | 1,341 | ||||||
| 45 | Allstate Corp. (The) | 5,334 | ||||||
| 337 | American International Group, Inc. | 16,938 | ||||||
| 13 | Brighthouse Financial, Inc.(a) | 506 | ||||||
| 69 | Chubb Ltd. | 10,487 | ||||||
| 82 | First American Financial Corp. | 5,082 | ||||||
| 30 | Hanover Insurance Group, Inc. (The) | 4,158 | ||||||
| 47 | Hartford Financial Services Group, Inc. (The) | 2,786 | ||||||
| 46 | Lincoln National Corp. | 2,506 | ||||||
| 28 | Marsh & McLennan Cos., Inc. | 3,132 | ||||||
| 87 | Prudential Financial, Inc. | 7,922 | ||||||
| Insurance — (continued) |
|
|||||||
| 31 | Travelers Cos., Inc. (The) | $ | 4,080 | |||||
|
|
|
|||||||
| 64,272 | ||||||||
|
|
|
|||||||
| Interactive Media & Services — 1.8% |
|
|||||||
| 15 | Alphabet, Inc., Class A(a) | 21,491 | ||||||
| 34 | Alphabet, Inc., Class C(a) | 48,764 | ||||||
| 223 | Facebook, Inc., Class A(a) | 45,026 | ||||||
|
|
|
|||||||
| 115,281 | ||||||||
|
|
|
|||||||
| Internet & Direct Marketing Retail — 1.7% |
|
|||||||
| 147 | Alibaba Group Holding Ltd., Sponsored ADR(a) | 30,369 | ||||||
| 18 | Amazon.com, Inc.(a) | 36,157 | ||||||
| 12 | Booking Holdings, Inc.(a) | 21,966 | ||||||
| 432 | eBay, Inc. | 14,498 | ||||||
| 59 | Etsy, Inc.(a) | 2,880 | ||||||
|
|
|
|||||||
| 105,870 | ||||||||
|
|
|
|||||||
| IT Services — 2.3% |
|
|||||||
| 102 | Automatic Data Processing, Inc. | 17,482 | ||||||
| 75 | Cognizant Technology Solutions Corp., Class A | 4,604 | ||||||
| 387 | DXC Technology Co. | 12,338 | ||||||
| 16 | Fiserv, Inc.(a) | 1,898 | ||||||
| 76 | Gartner, Inc.(a) | 12,219 | ||||||
| 26 | International Business Machines Corp. | 3,737 | ||||||
| 61 | MasterCard, Inc., Class A | 19,272 | ||||||
| 27 | Paychex, Inc. | 2,316 | ||||||
| 34 | PayPal Holdings, Inc.(a) | 3,872 | ||||||
| 239 | Sabre Corp. | 5,148 | ||||||
| 10 | VeriSign, Inc.(a) | 2,081 | ||||||
| 257 | Visa, Inc., Class A | 51,135 | ||||||
| 24 | WEX, Inc.(a) | 5,206 | ||||||
|
|
|
|||||||
| 141,308 | ||||||||
|
|
|
|||||||
| Leisure Products — 0.0% |
|
|||||||
| 112 | Callaway Golf Co. | 2,399 | ||||||
|
|
|
|||||||
| Life Sciences Tools & Services — 0.2% |
|
|||||||
| 21 | Agilent Technologies, Inc. | 1,734 | ||||||
| 2 | Illumina, Inc.(a) | 580 | ||||||
| 11 | IQVIA Holdings, Inc.(a) | 1,708 | ||||||
| 44 | Repligen Corp.(a) | 4,417 | ||||||
| 18 | Thermo Fisher Scientific, Inc. | 5,637 | ||||||
| 4 | Waters Corp.(a) | 895 | ||||||
|
|
|
|||||||
| 14,971 | ||||||||
|
|
|
|||||||
| Machinery — 1.6% |
|
|||||||
| 59 | AGCO Corp. | 4,138 | ||||||
| 509 | Briggs & Stratton Corp. | 1,868 | ||||||
| 129 | Caterpillar, Inc. | 16,944 | ||||||
| 79 | Cummins, Inc. | 12,638 | ||||||
| 100 | Deere & Co. | 15,858 | ||||||
| 59 | Flowserve Corp. | 2,754 | ||||||
| 78 | ITT, Inc. | 5,232 | ||||||
| 99 | Kennametal, Inc. | 3,098 | ||||||
| 63 | Oshkosh Corp. | 5,421 | ||||||
| 113 | Parker-Hannifin Corp. | 22,113 | ||||||
| 17 | Proto Labs, Inc.(a) | 1,760 | ||||||
| 81 | Terex Corp. | 2,053 | ||||||
| 68 | Toro Co. (The) | 5,441 | ||||||
| 18 | Xylem, Inc. | 1,470 | ||||||
|
|
|
|||||||
| 100,788 | ||||||||
|
|
|
|||||||
| Media — 0.9% |
|
|||||||
| 4 | Cable One, Inc. | 6,816 | ||||||
| 41 | Charter Communications, Inc., Class A(a) | 21,216 | ||||||
| 385 | Comcast Corp., Class A | 16,628 | ||||||
See accompanying notes to financial statements.
| 50
Table of Contents
Portfolio of Investments – as of January 31, 2020
Natixis Sustainable Future 2030 Fund – (continued)
|
Shares |
Description | Value (†) | ||||||
| Media — (continued) |
|
|||||||
| 31 | Discovery, Inc., Series C(a) | $ | 861 | |||||
| 64 | Fox Corp., Class A | 2,373 | ||||||
| 71 | Interpublic Group of Cos., Inc. (The) | 1,612 | ||||||
| 84 | New York Times Co. (The), Class A | 2,689 | ||||||
| 55 | Omnicom Group, Inc. | 4,142 | ||||||
| 68 | ViacomCBS, Inc., Class B | 2,321 | ||||||
|
|
|
|||||||
| 58,658 | ||||||||
|
|
|
|||||||
| Metals & Mining — 0.4% |
|
|||||||
| 147 | Commercial Metals Co. | 3,021 | ||||||
| 165 | Newmont Corp. | 7,435 | ||||||
| 12 | Nucor Corp. | 570 | ||||||
| 61 | Reliance Steel & Aluminum Co. | 7,003 | ||||||
| 39 | Royal Gold, Inc. | 4,497 | ||||||
|
|
|
|||||||
| 22,526 | ||||||||
|
|
|
|||||||
| Multi-Utilities — 0.3% |
|
|||||||
| 74 | Consolidated Edison, Inc. | 6,956 | ||||||
| 30 | DTE Energy Co. | 3,978 | ||||||
| 19 | Sempra Energy | 3,052 | ||||||
| 19 | WEC Energy Group, Inc. | 1,898 | ||||||
|
|
|
|||||||
| 15,884 | ||||||||
|
|
|
|||||||
| Multiline Retail — 0.1% |
|
|||||||
| 10 | Macy’s, Inc. | 160 | ||||||
| 56 | Target Corp. | 6,201 | ||||||
|
|
|
|||||||
| 6,361 | ||||||||
|
|
|
|||||||
| Oil, Gas & Consumable Fuels — 1.0% |
|
|||||||
| 531 | Apache Corp. | 14,570 | ||||||
| 113 | Concho Resources, Inc. | 8,563 | ||||||
| 887 | Denbury Resources, Inc.(a) | 874 | ||||||
| 89 | Devon Energy Corp. | 1,933 | ||||||
| 87 | Diamondback Energy, Inc. | 6,473 | ||||||
| 110 | EOG Resources, Inc. | 8,020 | ||||||
| 141 | EQT Corp. | 853 | ||||||
| 117 | Green Plains, Inc. | 1,459 | ||||||
| 226 | Marathon Oil Corp. | 2,569 | ||||||
| 145 | Noble Energy, Inc. | 2,867 | ||||||
| 78 | ONEOK, Inc. | 5,840 | ||||||
| 852 | Southwestern Energy Co.(a) | 1,338 | ||||||
| 38 | Valero Energy Corp. | 3,204 | ||||||
| 75 | World Fuel Services Corp. | 2,934 | ||||||
|
|
|
|||||||
| 61,497 | ||||||||
|
|
|
|||||||
| Paper & Forest Products — 0.1% |
|
|||||||
| 62 | Domtar Corp. | 2,159 | ||||||
| 104 | Louisiana-Pacific Corp. | 3,191 | ||||||
|
|
|
|||||||
| 5,350 | ||||||||
|
|
|
|||||||
| Personal Products — 0.0% |
|
|||||||
| 10 | Estee Lauder Cos., Inc. (The), Class A | 1,952 | ||||||
|
|
|
|||||||
| Pharmaceuticals — 1.2% |
|
|||||||
| 2 | Allergan PLC | 373 | ||||||
| 60 | Bristol-Myers Squibb Co. | 3,777 | ||||||
| 75 | Catalent, Inc.(a) | 4,583 | ||||||
| 38 | Eli Lilly & Co. | 5,306 | ||||||
| 128 | Merck & Co., Inc. | 10,936 | ||||||
| 99 | Novartis AG, Sponsored ADR | 9,357 | ||||||
| 235 | Novo Nordisk AS, Sponsored ADR | 14,295 | ||||||
| 24 | Perrigo Co. PLC | 1,369 | ||||||
| 212 | Pfizer, Inc. | 7,895 | ||||||
| 370 | Roche Holding AG, Sponsored ADR | 15,466 | ||||||
|
|
|
|||||||
| 73,357 | ||||||||
|
|
|
|||||||
| Professional Services — 0.2% |
|
|||||||
| 62 | Exponent, Inc. | $ | 4,512 | |||||
| 23 | Insperity, Inc. | 2,009 | ||||||
| 63 | Korn Ferry | 2,582 | ||||||
| 38 | ManpowerGroup, Inc. | 3,476 | ||||||
| 32 | Nielsen Holdings PLC | 653 | ||||||
|
|
|
|||||||
| 13,232 | ||||||||
|
|
|
|||||||
| Real Estate Management & Development — 0.1% |
|
|||||||
| 40 | CBRE Group, Inc., Class A(a) | 2,442 | ||||||
| 32 | Jones Lang LaSalle, Inc. | 5,434 | ||||||
|
|
|
|||||||
| 7,876 | ||||||||
|
|
|
|||||||
| REITs – Apartments — 0.4% |
|
|||||||
| 114 | American Campus Communities, Inc. | 5,229 | ||||||
| 9 | AvalonBay Communities, Inc. | 1,950 | ||||||
| 77 | Camden Property Trust | 8,657 | ||||||
| 43 | Equity Residential | 3,573 | ||||||
| 11 | Essex Property Trust, Inc. | 3,407 | ||||||
| 3 | Mid-America Apartment Communities, Inc. | 412 | ||||||
|
|
|
|||||||
| 23,228 | ||||||||
|
|
|
|||||||
| REITs – Diversified — 0.2% |
|
|||||||
| 16 | Crown Castle International Corp. | 2,398 | ||||||
| 13 | Digital Realty Trust, Inc. | 1,599 | ||||||
| 4 | Equinix, Inc. | 2,359 | ||||||
| 114 | Weyerhaeuser Co. | 3,300 | ||||||
|
|
|
|||||||
| 9,656 | ||||||||
|
|
|
|||||||
| REITs – Health Care — 0.2% |
|
|||||||
| 38 | Ventas, Inc. | 2,199 | ||||||
| 113 | Welltower, Inc. | 9,595 | ||||||
|
|
|
|||||||
| 11,794 | ||||||||
|
|
|
|||||||
| REITs – Hotels — 0.0% |
|
|||||||
| 128 | Host Hotels & Resorts, Inc. | 2,092 | ||||||
|
|
|
|||||||
| REITs – Office Property — 0.5% |
|
|||||||
| 17 | Boston Properties, Inc. | 2,437 | ||||||
| 175 | Corporate Office Properties Trust | 5,210 | ||||||
| 194 | Douglas Emmett, Inc. | 8,051 | ||||||
| 258 | Easterly Government Properties, Inc. | 6,246 | ||||||
| 86 | Kilroy Realty Corp. | 7,101 | ||||||
|
|
|
|||||||
| 29,045 | ||||||||
|
|
|
|||||||
| REITs – Regional Malls — 0.0% |
|
|||||||
| 19 | Simon Property Group, Inc. | 2,530 | ||||||
|
|
|
|||||||
| REITs – Storage — 0.0% |
|
|||||||
| 23 | Iron Mountain, Inc. | 727 | ||||||
| 4 | Public Storage | 895 | ||||||
|
|
|
|||||||
| 1,622 | ||||||||
|
|
|
|||||||
| REITs – Warehouse/Industrials — 0.2% |
|
|||||||
| 55 | CyrusOne, Inc. | 3,347 | ||||||
| 141 | Liberty Property Trust | 8,833 | ||||||
|
|
|
|||||||
| 12,180 | ||||||||
|
|
|
|||||||
| Road & Rail — 0.4% |
|
|||||||
| 17 | Kansas City Southern | 2,868 | ||||||
| 49 | Norfolk Southern Corp. | 10,202 | ||||||
| 52 | Ryder System, Inc. | 2,482 | ||||||
| 53 | Union Pacific Corp. | 9,509 | ||||||
|
|
|
|||||||
| 25,061 | ||||||||
|
|
|
|||||||
| Semiconductors & Semiconductor Equipment — 1.6% |
|
|||||||
| 14 | Advanced Micro Devices, Inc.(a) | 658 | ||||||
| 61 | Applied Materials, Inc. | 3,537 | ||||||
| 35 | Cabot Microelectronics Corp. | 5,093 | ||||||
See accompanying notes to financial statements.
51 |
Table of Contents
Portfolio of Investments – as of January 31, 2020
Natixis Sustainable Future 2030 Fund – (continued)
See accompanying notes to financial statements.
| 52
Table of Contents
Portfolio of Investments – as of January 31, 2020
Natixis Sustainable Future 2030 Fund – (continued)
See accompanying notes to financial statements.
53 |
Table of Contents
Portfolio of Investments – as of January 31, 2020
Natixis Sustainable Future 2030 Fund – (continued)
Asset Allocation Summary at January 31, 2020
|
Equity |
67.0 | % | ||
|
Fixed Income |
31.8 | |||
|
|
|
|||
|
Total Investments |
98.8 | |||
|
Other assets less liabilities |
1.2 | |||
|
|
|
|||
|
Net Assets |
100.0 | % | ||
|
|
|
See accompanying notes to financial statements.
| 54
Table of Contents
Portfolio of Investments – as of January 31, 2020
Natixis Sustainable Future 2035 Fund
|
Shares |
Description | Value (†) | ||||||
| Common Stocks — 53.3% of Net Assets | ||||||||
| Aerospace & Defense — 0.4% |
|
|||||||
| 26 | Axon Enterprise, Inc.(a) | $ | 1,997 | |||||
| 38 | Moog, Inc., Class A | 3,405 | ||||||
| 4 | Raytheon Co. | 884 | ||||||
| 20 | Teledyne Technologies, Inc.(a) | 7,301 | ||||||
| 46 | United Technologies Corp. | 6,909 | ||||||
|
|
|
|||||||
| 20,496 | ||||||||
|
|
|
|||||||
| Air Freight & Logistics — 0.7% |
|
|||||||
| 334 | Expeditors International of Washington, Inc. | 24,395 | ||||||
| 46 | FedEx Corp. | 6,654 | ||||||
| 58 | United Parcel Service, Inc., Class B | 6,004 | ||||||
|
|
|
|||||||
| 37,053 | ||||||||
|
|
|
|||||||
| Airlines — 0.2% |
|
|||||||
| 340 | American Airlines Group, Inc. | 9,125 | ||||||
| 20 | Delta Air Lines, Inc. | 1,115 | ||||||
|
|
|
|||||||
| 10,240 | ||||||||
|
|
|
|||||||
| Auto Components — 0.3% |
|
|||||||
| 162 | American Axle & Manufacturing Holdings, Inc.(a) | 1,497 | ||||||
| 106 | Aptiv PLC | 8,988 | ||||||
| 24 | BorgWarner, Inc. | 823 | ||||||
| 153 | Delphi Technologies PLC(a) | 2,347 | ||||||
| 167 | Goodyear Tire & Rubber Co. (The) | 2,193 | ||||||
| 34 | Visteon Corp.(a) | 2,713 | ||||||
|
|
|
|||||||
| 18,561 | ||||||||
|
|
|
|||||||
| Automobiles — 0.5% |
|
|||||||
| 983 | Fiat Chrysler Automobiles NV | 12,798 | ||||||
| 389 | General Motors Co. | 12,989 | ||||||
| 36 | Thor Industries, Inc. | 2,899 | ||||||
|
|
|
|||||||
| 28,686 | ||||||||
|
|
|
|||||||
| Banks — 3.5% |
|
|||||||
| 99 | Ameris Bancorp | 3,979 | ||||||
| 177 | BancorpSouth Bank | 5,057 | ||||||
| 834 | Bank of America Corp. | 27,380 | ||||||
| 403 | Cadence BanCorp | 6,299 | ||||||
| 384 | Citigroup, Inc. | 28,573 | ||||||
| 238 | Citizens Financial Group, Inc. | 8,873 | ||||||
| 135 | Columbia Banking System, Inc. | 5,225 | ||||||
| 14 | Comerica, Inc. | 856 | ||||||
| 89 | Cullen/Frost Bankers, Inc. | 7,935 | ||||||
| 310 | Fulton Financial Corp. | 5,106 | ||||||
| 266 | Huntington Bancshares, Inc. | 3,610 | ||||||
| 163 | International Bancshares Corp. | 6,422 | ||||||
| 401 | KeyCorp | 7,503 | ||||||
| 26 | M&T Bank Corp. | 4,382 | ||||||
| 634 | People’s United Financial, Inc. | 9,776 | ||||||
| 86 | PNC Financial Services Group, Inc. (The) | 12,775 | ||||||
| 162 | Regions Financial Corp. | 2,522 | ||||||
| 150 | TCF Financial Corp. | 6,342 | ||||||
| 142 | Truist Financial Corp. | 7,323 | ||||||
| 252 | Trustmark Corp. | 8,059 | ||||||
| 328 | Wells Fargo & Co. | 15,396 | ||||||
| 65 | Wintrust Financial Corp. | 4,113 | ||||||
| 130 | Zions Bancorp N.A. | 5,914 | ||||||
|
|
|
|||||||
| 193,420 | ||||||||
|
|
|
|||||||
| Beverages — 1.5% |
|
|||||||
| 100 | Brown-Forman Corp., Class B | 6,764 | ||||||
| 415 | Coca-Cola Co. (The) | 24,236 | ||||||
| 68 | Constellation Brands, Inc., Class A | 12,804 | ||||||
| 524 | Monster Beverage Corp.(a) | 34,899 | ||||||
| 51 | PepsiCo, Inc. | 7,243 | ||||||
|
|
|
|||||||
| 85,946 | ||||||||
|
|
|
|||||||
| Biotechnology — 1.6% |
|
|||||||
| 69 | AbbVie, Inc. | 5,591 | ||||||
| 86 | Amgen, Inc. | 18,580 | ||||||
| 15 | Biogen, Inc.(a) | 4,033 | ||||||
| 136 | BioMarin Pharmaceutical, Inc.(a) | 11,356 | ||||||
| 116 | Gilead Sciences, Inc. | 7,331 | ||||||
| 23 | Ligand Pharmaceuticals, Inc.(a) | 2,020 | ||||||
| 113 | Regeneron Pharmaceuticals, Inc.(a) | 38,187 | ||||||
| 6 | Vertex Pharmaceuticals, Inc.(a) | 1,362 | ||||||
|
|
|
|||||||
| 88,460 | ||||||||
|
|
|
|||||||
| Building Products — 0.3% |
|
|||||||
| 246 | Johnson Controls International PLC | 9,705 | ||||||
| 26 | Lennox International, Inc. | 6,057 | ||||||
|
|
|
|||||||
| 15,762 | ||||||||
|
|
|
|||||||
| Capital Markets — 3.9% |
|
|||||||
| 4 | Affiliated Managers Group, Inc. | 319 | ||||||
| 12 | Ameriprise Financial, Inc. | 1,985 | ||||||
| 466 | Bank of New York Mellon Corp. (The) | 20,868 | ||||||
| 18 | BlackRock, Inc. | 9,492 | ||||||
| 472 | Charles Schwab Corp. (The) | 21,500 | ||||||
| 24 | CME Group, Inc. | 5,211 | ||||||
| 65 | FactSet Research Systems, Inc. | 18,597 | ||||||
| 89 | Franklin Resources, Inc. | 2,252 | ||||||
| 55 | Goldman Sachs Group, Inc. (The) | 13,076 | ||||||
| 60 | Intercontinental Exchange, Inc. | 5,984 | ||||||
| 54 | Invesco Ltd. | 934 | ||||||
| 126 | Janus Henderson Group PLC | 3,184 | ||||||
| 131 | Legg Mason, Inc. | 5,129 | ||||||
| 84 | Moody’s Corp. | 21,570 | ||||||
| 69 | MSCI, Inc. | 19,720 | ||||||
| 63 | Northern Trust Corp. | 6,162 | ||||||
| 52 | S&P Global, Inc. | 15,274 | ||||||
| 284 | SEI Investments Co. | 18,534 | ||||||
| 343 | State Street Corp. | 25,941 | ||||||
|
|
|
|||||||
| 215,732 | ||||||||
|
|
|
|||||||
| Chemicals — 0.7% |
|
|||||||
| 29 | DuPont de Nemours, Inc. | 1,484 | ||||||
| 60 | Ecolab, Inc. | 11,767 | ||||||
| 69 | HB Fuller Co. | 3,188 | ||||||
| 52 | Innospec, Inc. | 5,238 | ||||||
| 14 | International Flavors & Fragrances, Inc. | 1,836 | ||||||
| 54 | Linde PLC | 10,969 | ||||||
| 58 | Minerals Technologies, Inc. | 3,139 | ||||||
| 34 | Stepan Co. | 3,354 | ||||||
|
|
|
|||||||
| 40,975 | ||||||||
|
|
|
|||||||
| Commercial Services & Supplies — 0.3% |
|
|||||||
| 62 | Healthcare Services Group, Inc. | 1,587 | ||||||
| 37 | MSA Safety, Inc. | 5,017 | ||||||
| 54 | Tetra Tech, Inc. | 4,623 | ||||||
| 50 | Waste Management, Inc. | 6,085 | ||||||
|
|
|
|||||||
| 17,312 | ||||||||
|
|
|
|||||||
| Communications Equipment — 0.7% |
|
|||||||
| 84 | Ciena Corp.(a) | 3,416 | ||||||
| 589 | Cisco Systems, Inc. | 27,077 | ||||||
| 9 | F5 Networks, Inc.(a) | 1,099 | ||||||
| 44 | InterDigital, Inc. | 2,431 | ||||||
| 47 | Lumentum Holdings, Inc.(a) | 3,561 | ||||||
| 20 | Motorola Solutions, Inc. | 3,540 | ||||||
|
|
|
|||||||
| 41,124 | ||||||||
|
|
|
|||||||
| Construction & Engineering — 0.2% |
|
|||||||
| 166 | AECOM(a) | 8,006 | ||||||
See accompanying notes to financial statements.
55 |
Table of Contents
Portfolio of Investments – as of January 31, 2020
Natixis Sustainable Future 2035 Fund – (continued)
|
Shares |
Description | Value (†) | ||||||
| Construction & Engineering — continued |
|
|||||||
| 194 | Fluor Corp. | $ | 3,471 | |||||
|
|
|
|||||||
| 11,477 | ||||||||
|
|
|
|||||||
| Consumer Finance — 0.6% |
|
|||||||
| 42 | American Express Co. | 5,455 | ||||||
| 244 | Capital One Financial Corp. | 24,351 | ||||||
| 119 | Navient Corp. | 1,711 | ||||||
|
|
|
|||||||
| 31,517 | ||||||||
|
|
|
|||||||
| Containers & Packaging — 0.2% |
|
|||||||
| 92 | Ball Corp. | 6,641 | ||||||
| 50 | International Paper Co. | 2,036 | ||||||
| 247 | O-I Glass, Inc. | 3,117 | ||||||
|
|
|
|||||||
| 11,794 | ||||||||
|
|
|
|||||||
| Distributors — 0.2% |
|
|||||||
| 40 | Genuine Parts Co. | 3,743 | ||||||
| 24 | POOL CORP. | 5,263 | ||||||
|
|
|
|||||||
| 9,006 | ||||||||
|
|
|
|||||||
| Diversified Consumer Services — 0.1% |
|
|||||||
| 105 | Service Corp. International | 5,035 | ||||||
|
|
|
|||||||
| Diversified Telecommunication Services — 0.2% |
|
|||||||
| 189 | AT&T, Inc. | 7,110 | ||||||
| 101 | Verizon Communications, Inc. | 6,004 | ||||||
|
|
|
|||||||
| 13,114 | ||||||||
|
|
|
|||||||
| Electric Utilities — 0.5% |
|
|||||||
| 129 | American Electric Power Co., Inc. | 13,444 | ||||||
| 22 | Edison International | 1,684 | ||||||
| 33 | Eversource Energy | 3,051 | ||||||
| 29 | FirstEnergy Corp. | 1,473 | ||||||
| 49 | IDACORP, Inc. | 5,497 | ||||||
| 42 | PPL Corp. | 1,520 | ||||||
|
|
|
|||||||
| 26,669 | ||||||||
|
|
|
|||||||
| Electrical Equipment — 0.2% |
|
|||||||
| 18 | Acuity Brands, Inc. | 2,122 | ||||||
| 60 | Eaton Corp. PLC | 5,668 | ||||||
| 34 | Hubbell, Inc. | 4,870 | ||||||
|
|
|
|||||||
| 12,660 | ||||||||
|
|
|
|||||||
| Electronic Equipment, Instruments & Components — 0.8% |
|
|||||||
| 88 | Avnet, Inc. | 3,211 | ||||||
| 37 | Belden, Inc. | 1,823 | ||||||
| 95 | Cognex Corp. | 4,842 | ||||||
| 20 | Coherent, Inc.(a) | 2,829 | ||||||
| 47 | Corning, Inc. | 1,254 | ||||||
| 18 | Littelfuse, Inc. | 3,184 | ||||||
| 17 | Rogers Corp.(a) | 2,002 | ||||||
| 181 | TE Connectivity Ltd. | 16,685 | ||||||
| 107 | Trimble, Inc.(a) | 4,550 | ||||||
| 159 | Vishay Intertechnology, Inc. | 3,226 | ||||||
|
|
|
|||||||
| 43,606 | ||||||||
|
|
|
|||||||
| Energy Equipment & Services — 0.4% |
|
|||||||
| 54 | Apergy Corp.(a) | 1,396 | ||||||
| 71 | Baker Hughes Co. | 1,538 | ||||||
| 29 | Core Laboratories NV | 1,019 | ||||||
| 87 | National Oilwell Varco, Inc. | 1,793 | ||||||
| 93 | Oceaneering International, Inc.(a) | 1,154 | ||||||
| 82 | Oil States International, Inc.(a) | 884 | ||||||
| 435 | Schlumberger Ltd. | 14,577 | ||||||
| 72 | TechnipFMC PLC | 1,189 | ||||||
|
|
|
|||||||
| 23,550 | ||||||||
|
|
|
|||||||
| Entertainment — 1.1% |
|
|||||||
| 36 | Activision Blizzard, Inc. | 2,105 | ||||||
| 76 | Cinemark Holdings, Inc. | 2,395 | ||||||
| 24 | Electronic Arts, Inc.(a) | 2,590 | ||||||
| 82 | Netflix, Inc.(a) | 28,298 | ||||||
| 30 | Take-Two Interactive Software, Inc.(a) | 3,739 | ||||||
| 178 | Walt Disney Co. (The) | 24,619 | ||||||
|
|
|
|||||||
| 63,746 | ||||||||
|
|
|
|||||||
| Food & Staples Retailing — 0.3% |
|
|||||||
| 93 | Kroger Co. (The) | 2,498 | ||||||
| 286 | SpartanNash Co. | 3,484 | ||||||
| 32 | Sysco Corp. | 2,628 | ||||||
| 109 | Walgreens Boots Alliance, Inc. | 5,543 | ||||||
|
|
|
|||||||
| 14,153 | ||||||||
|
|
|
|||||||
| Food Products — 0.7% |
|
|||||||
| 73 | Campbell Soup Co. | 3,533 | ||||||
| 791 | Danone S.A., Sponsored ADR | 12,616 | ||||||
| 54 | General Mills, Inc. | 2,820 | ||||||
| 92 | Hain Celestial Group, Inc. (The)(a) | 2,227 | ||||||
| 8 | Hershey Co. (The) | 1,241 | ||||||
| 42 | Hormel Foods Corp. | 1,985 | ||||||
| 49 | Ingredion, Inc. | 4,312 | ||||||
| 15 | J.M. Smucker Co. (The) | 1,554 | ||||||
| 65 | Kellogg Co. | 4,434 | ||||||
| 9 | McCormick & Co., Inc. | 1,470 | ||||||
| 23 | Mondelez International, Inc., Class A | 1,320 | ||||||
|
|
|
|||||||
| 37,512 | ||||||||
|
|
|
|||||||
| Gas Utilities — 0.3% |
|
|||||||
| 94 | New Jersey Resources Corp. | 3,884 | ||||||
| 56 | ONE Gas, Inc. | 5,292 | ||||||
| 104 | South Jersey Industries, Inc. | 3,203 | ||||||
| 114 | UGI Corp. | 4,742 | ||||||
|
|
|
|||||||
| 17,121 | ||||||||
|
|
|
|||||||
| Health Care Equipment & Supplies — 0.8% |
|
|||||||
| 5 | Becton Dickinson & Co. | 1,376 | ||||||
| 27 | Boston Scientific Corp.(a) | 1,130 | ||||||
| 6 | Cooper Cos., Inc. (The) | 2,081 | ||||||
| 20 | Danaher Corp. | 3,217 | ||||||
| 20 | DENTSPLY SIRONA, Inc. | 1,120 | ||||||
| 3 | Edwards Lifesciences Corp.(a) | 660 | ||||||
| 49 | Globus Medical, Inc., Class A(a) | 2,562 | ||||||
| 25 | Haemonetics Corp.(a) | 2,685 | ||||||
| 49 | Hill-Rom Holdings, Inc. | 5,218 | ||||||
| 26 | Hologic, Inc.(a) | 1,392 | ||||||
| 3 | Intuitive Surgical, Inc.(a) | 1,679 | ||||||
| 169 | Meridian Bioscience, Inc. | 1,663 | ||||||
| 37 | Merit Medical Systems, Inc.(a) | 1,348 | ||||||
| 7 | STERIS PLC | 1,055 | ||||||
| 5 | Stryker Corp. | 1,053 | ||||||
| 55 | Varian Medical Systems, Inc.(a) | 7,731 | ||||||
| 36 | West Pharmaceutical Services, Inc. | 5,614 | ||||||
|
|
|
|||||||
| 41,584 | ||||||||
|
|
|
|||||||
| Health Care Providers & Services — 1.9% |
|
|||||||
| 51 | Acadia Healthcare Co., Inc.(a) | 1,639 | ||||||
| 17 | Amedisys, Inc.(a) | 3,000 | ||||||
| 9 | Anthem, Inc. | 2,388 | ||||||
| 36 | BioTelemetry, Inc.(a) | 1,761 | ||||||
| 92 | Centene Corp.(a) | 5,778 | ||||||
| 12 | Chemed Corp. | 5,604 | ||||||
| 15 | Cigna Corp. | 2,886 | ||||||
| 261 | CVS Health Corp. | 17,701 | ||||||
| 19 | DaVita, Inc.(a) | 1,518 | ||||||
See accompanying notes to financial statements.
| 56
Table of Contents
Portfolio of Investments – as of January 31, 2020
Natixis Sustainable Future 2035 Fund – (continued)
|
Shares |
Description | Value (†) | ||||||
| Health Care Providers & Services — continued |
|
|||||||
| 45 | Encompass Health Corp. | $ | 3,466 | |||||
| 120 | HCA Healthcare, Inc. | 16,656 | ||||||
| 31 | Henry Schein, Inc.(a) | 2,137 | ||||||
| 49 | Humana, Inc. | 16,476 | ||||||
| 23 | Laboratory Corp. of America Holdings(a) | 4,034 | ||||||
| 184 | MEDNAX, Inc.(a) | 4,245 | ||||||
| 84 | Patterson Cos., Inc. | 1,849 | ||||||
| 36 | Quest Diagnostics, Inc. | 3,984 | ||||||
| 38 | UnitedHealth Group, Inc. | 10,353 | ||||||
|
|
|
|||||||
| 105,475 | ||||||||
|
|
|
|||||||
| Health Care Technology — 0.4% |
|
|||||||
| 179 | Allscripts Healthcare Solutions, Inc.(a) | 1,536 | ||||||
| 256 | Cerner Corp. | 18,388 | ||||||
| 87 | HMS Holdings Corp.(a) | 2,377 | ||||||
|
|
|
|||||||
| 22,301 | ||||||||
|
|
|
|||||||
| Hotels, Restaurants & Leisure — 1.8% |
|
|||||||
| 16 | Domino’s Pizza, Inc. | 4,508 | ||||||
| 48 | Dunkin’ Brands Group, Inc. | 3,748 | ||||||
| 114 | Hilton Worldwide Holdings, Inc. | 12,289 | ||||||
| 29 | Jack in the Box, Inc. | 2,371 | ||||||
| 31 | Marriott Vacations Worldwide Corp. | 3,727 | ||||||
| 11 | McDonald’s Corp. | 2,354 | ||||||
| 547 | MGM Resorts International | 16,990 | ||||||
| 12 | Royal Caribbean Cruises Ltd. | 1,405 | ||||||
| 213 | Starbucks Corp. | 18,069 | ||||||
| 178 | Wendy’s Co. (The) | 3,857 | ||||||
| 494 | Yum China Holdings, Inc. | 21,277 | ||||||
| 98 | Yum! Brands, Inc. | 10,365 | ||||||
|
|
|
|||||||
| 100,960 | ||||||||
|
|
|
|||||||
| Household Durables — 0.2% |
|
|||||||
| 149 | KB Home | 5,595 | ||||||
| 111 | Meritage Homes Corp.(a) | 7,876 | ||||||
|
|
|
|||||||
| 13,471 | ||||||||
|
|
|
|||||||
| Household Products — 0.8% |
|
|||||||
| 202 | Colgate-Palmolive Co. | 14,903 | ||||||
| 253 | Procter & Gamble Co. (The) | 31,529 | ||||||
|
|
|
|||||||
| 46,432 | ||||||||
|
|
|
|||||||
| Independent Power & Renewable Electricity Producers — 0.4% |
|
|||||||
| 97 | AES Corp. (The) | 1,927 | ||||||
| 158 | Ormat Technologies, Inc. | 12,523 | ||||||
| 374 | Pattern Energy Group, Inc., Class A | 10,064 | ||||||
|
|
|
|||||||
| 24,514 | ||||||||
|
|
|
|||||||
| Industrial Conglomerates — 0.4% |
|
|||||||
| 1,610 | General Electric Co. | 20,044 | ||||||
| 8 | Honeywell International, Inc. | 1,386 | ||||||
|
|
|
|||||||
| 21,430 | ||||||||
|
|
|
|||||||
| Insurance — 1.2% |
|
|||||||
| 27 | Aflac, Inc. | 1,392 | ||||||
| 48 | Allstate Corp. (The) | 5,690 | ||||||
| 327 | American International Group, Inc. | 16,435 | ||||||
| 11 | Brighthouse Financial, Inc.(a) | 428 | ||||||
| 70 | Chubb Ltd. | 10,639 | ||||||
| 86 | First American Financial Corp. | 5,330 | ||||||
| 31 | Hanover Insurance Group, Inc. (The) | 4,296 | ||||||
| 50 | Hartford Financial Services Group, Inc. (The) | 2,964 | ||||||
| 50 | Lincoln National Corp. | 2,724 | ||||||
| 29 | Marsh & McLennan Cos., Inc. | 3,244 | ||||||
| 90 | Prudential Financial, Inc. | 8,196 | ||||||
| 32 | Travelers Cos., Inc. (The) | 4,212 | ||||||
|
|
|
|||||||
| 65,550 | ||||||||
|
|
|
|||||||
| Interactive Media & Services — 2.5% |
|
|||||||
| 19 | Alphabet, Inc., Class A(a) | $ | 27,223 | |||||
| 38 | Alphabet, Inc., Class C(a) | 54,501 | ||||||
| 278 | Facebook, Inc., Class A(a) | 56,131 | ||||||
|
|
|
|||||||
| 137,855 | ||||||||
|
|
|
|||||||
| Internet & Direct Marketing Retail — 2.4% |
|
|||||||
| 207 | Alibaba Group Holding Ltd., Sponsored ADR(a) | 42,764 | ||||||
| 25 | Amazon.com, Inc.(a) | 50,218 | ||||||
| 12 | Booking Holdings, Inc.(a) | 21,967 | ||||||
| 429 | eBay, Inc. | 14,397 | ||||||
| 60 | Etsy, Inc.(a) | 2,929 | ||||||
|
|
|
|||||||
| 132,275 | ||||||||
|
|
|
|||||||
| IT Services — 2.8% |
|
|||||||
| 114 | Automatic Data Processing, Inc. | 19,538 | ||||||
| 76 | Cognizant Technology Solutions Corp., Class A | 4,665 | ||||||
| 375 | DXC Technology Co. | 11,955 | ||||||
| 17 | Fiserv, Inc.(a) | 2,016 | ||||||
| 74 | Gartner, Inc.(a) | 11,898 | ||||||
| 27 | International Business Machines Corp. | 3,881 | ||||||
| 62 | MasterCard, Inc., Class A | 19,588 | ||||||
| 27 | Paychex, Inc. | 2,316 | ||||||
| 36 | PayPal Holdings, Inc.(a) | 4,100 | ||||||
| 242 | Sabre Corp. | 5,213 | ||||||
| 10 | VeriSign, Inc.(a) | 2,081 | ||||||
| 318 | Visa, Inc., Class A | 63,273 | ||||||
| 26 | WEX, Inc.(a) | 5,640 | ||||||
|
|
|
|||||||
| 156,164 | ||||||||
|
|
|
|||||||
| Leisure Products — 0.0% |
|
|||||||
| 109 | Callaway Golf Co. | 2,335 | ||||||
|
|
|
|||||||
| Life Sciences Tools & Services — 0.3% |
|
|||||||
| 22 | Agilent Technologies, Inc. | 1,816 | ||||||
| 4 | Illumina, Inc.(a) | 1,160 | ||||||
| 11 | IQVIA Holdings, Inc.(a) | 1,708 | ||||||
| 45 | Repligen Corp.(a) | 4,518 | ||||||
| 20 | Thermo Fisher Scientific, Inc. | 6,264 | ||||||
| 3 | Waters Corp.(a) | 671 | ||||||
|
|
|
|||||||
| 16,137 | ||||||||
|
|
|
|||||||
| Machinery — 1.9% |
|
|||||||
| 59 | AGCO Corp. | 4,138 | ||||||
| 496 | Briggs & Stratton Corp. | 1,820 | ||||||
| 128 | Caterpillar, Inc. | 16,813 | ||||||
| 79 | Cummins, Inc. | 12,638 | ||||||
| 126 | Deere & Co. | 19,981 | ||||||
| 59 | Flowserve Corp. | 2,754 | ||||||
| 83 | ITT, Inc. | 5,568 | ||||||
| 100 | Kennametal, Inc. | 3,129 | ||||||
| 65 | Oshkosh Corp. | 5,593 | ||||||
| 111 | Parker-Hannifin Corp. | 21,721 | ||||||
| 18 | Proto Labs, Inc.(a) | 1,863 | ||||||
| 79 | Terex Corp. | 2,003 | ||||||
| 72 | Toro Co. (The) | 5,761 | ||||||
| 20 | Xylem, Inc. | 1,633 | ||||||
|
|
|
|||||||
| 105,415 | ||||||||
|
|
|
|||||||
| Media — 1.1% |
|
|||||||
| 5 | Cable One, Inc. | 8,520 | ||||||
| 40 | Charter Communications, Inc., Class A(a) | 20,698 | ||||||
| 374 | Comcast Corp., Class A | 16,153 | ||||||
| 33 | Discovery, Inc., Series C(a) | 917 | ||||||
| 68 | Fox Corp., Class A | 2,522 | ||||||
| 72 | Interpublic Group of Cos., Inc. (The) | 1,634 | ||||||
| 86 | New York Times Co. (The), Class A | 2,753 | ||||||
| 57 | Omnicom Group, Inc. | 4,293 | ||||||
See accompanying notes to financial statements.
57 |
Table of Contents
Portfolio of Investments – as of January 31, 2020
Natixis Sustainable Future 2035 Fund – (continued)
|
Shares |
Description | Value (†) | ||||||
| Media — continued |
|
|||||||
| 72 | ViacomCBS, Inc., Class B | $ | 2,457 | |||||
|
|
|
|||||||
| 59,947 | ||||||||
|
|
|
|||||||
| Metals & Mining — 0.4% |
|
|||||||
| 143 | Commercial Metals Co. | 2,939 | ||||||
| 169 | Newmont Corp. | 7,615 | ||||||
| 16 | Nucor Corp. | 760 | ||||||
| 64 | Reliance Steel & Aluminum Co. | 7,347 | ||||||
| 42 | Royal Gold, Inc. | 4,843 | ||||||
|
|
|
|||||||
| 23,504 | ||||||||
|
|
|
|||||||
| Multi-Utilities — 0.3% |
|
|||||||
| 75 | Consolidated Edison, Inc. | 7,050 | ||||||
| 30 | DTE Energy Co. | 3,978 | ||||||
| 19 | Sempra Energy | 3,052 | ||||||
| 19 | WEC Energy Group, Inc. | 1,898 | ||||||
|
|
|
|||||||
| 15,978 | ||||||||
|
|
|
|||||||
| Multiline Retail — 0.1% |
|
|||||||
| 12 | Macy’s, Inc. | 191 | ||||||
| 56 | Target Corp. | 6,202 | ||||||
|
|
|
|||||||
| 6,393 | ||||||||
|
|
|
|||||||
| Oil, Gas & Consumable Fuels — 1.1% |
|
|||||||
| 523 | Apache Corp. | 14,351 | ||||||
| 110 | Concho Resources, Inc. | 8,336 | ||||||
| 873 | Denbury Resources, Inc.(a) | 860 | ||||||
| 90 | Devon Energy Corp. | 1,955 | ||||||
| 85 | Diamondback Energy, Inc. | 6,324 | ||||||
| 108 | EOG Resources, Inc. | 7,874 | ||||||
| 147 | EQT Corp. | 889 | ||||||
| 116 | Green Plains, Inc. | 1,447 | ||||||
| 229 | Marathon Oil Corp. | 2,604 | ||||||
| 147 | Noble Energy, Inc. | 2,906 | ||||||
| 79 | ONEOK, Inc. | 5,915 | ||||||
| 830 | Southwestern Energy Co.(a) | 1,303 | ||||||
| 39 | Valero Energy Corp. | 3,288 | ||||||
| 76 | World Fuel Services Corp. | 2,973 | ||||||
|
|
|
|||||||
| 61,025 | ||||||||
|
|
|
|||||||
| Paper & Forest Products — 0.1% |
|
|||||||
| 60 | Domtar Corp. | 2,089 | ||||||
| 105 | Louisiana-Pacific Corp. | 3,222 | ||||||
|
|
|
|||||||
| 5,311 | ||||||||
|
|
|
|||||||
| Personal Products — 0.0% |
|
|||||||
| 11 | Estee Lauder Cos., Inc. (The), Class A | 2,147 | ||||||
|
|
|
|||||||
| Pharmaceuticals — 1.7% |
|
|||||||
| 3 | Allergan PLC | 560 | ||||||
| 63 | Bristol-Myers Squibb Co. | 3,966 | ||||||
| 80 | Catalent, Inc.(a) | 4,888 | ||||||
| 41 | Eli Lilly & Co. | 5,725 | ||||||
| 153 | Merck & Co., Inc. | 13,072 | ||||||
| 134 | Novartis AG, Sponsored ADR | 12,665 | ||||||
| 335 | Novo Nordisk AS, Sponsored ADR | 20,378 | ||||||
| 26 | Perrigo Co. PLC | 1,483 | ||||||
| 225 | Pfizer, Inc. | 8,379 | ||||||
| 506 | Roche Holding AG, Sponsored ADR | 21,151 | ||||||
|
|
|
|||||||
| 92,267 | ||||||||
|
|
|
|||||||
| Professional Services — 0.2% |
|
|||||||
| 63 | Exponent, Inc. | 4,584 | ||||||
| 24 | Insperity, Inc. | 2,097 | ||||||
| 64 | Korn Ferry | 2,623 | ||||||
| 38 | ManpowerGroup, Inc. | 3,477 | ||||||
| 43 | Nielsen Holdings PLC | 877 | ||||||
|
|
|
|||||||
| 13,658 | ||||||||
|
|
|
|||||||
| Real Estate Management & Development — 0.2% |
|
|||||||
| 42 | CBRE Group, Inc., Class A(a) | 2,564 | ||||||
| 34 | Jones Lang LaSalle, Inc. | 5,774 | ||||||
|
|
|
|||||||
| 8,338 | ||||||||
|
|
|
|||||||
| REITs – Apartments — 0.4% |
|
|||||||
| 121 | American Campus Communities, Inc. | 5,550 | ||||||
| 9 | AvalonBay Communities, Inc. | 1,950 | ||||||
| 80 | Camden Property Trust | 8,995 | ||||||
| 41 | Equity Residential | 3,406 | ||||||
| 12 | Essex Property Trust, Inc. | 3,717 | ||||||
| 4 | Mid-America Apartment Communities, Inc. | 549 | ||||||
|
|
|
|||||||
| 24,167 | ||||||||
|
|
|
|||||||
| REITs – Diversified — 0.2% |
|
|||||||
| 17 | Crown Castle International Corp. | 2,547 | ||||||
| 14 | Digital Realty Trust, Inc. | 1,722 | ||||||
| 5 | Equinix, Inc. | 2,949 | ||||||
| 110 | Weyerhaeuser Co. | 3,184 | ||||||
|
|
|
|||||||
| 10,402 | ||||||||
|
|
|
|||||||
| REITs – Health Care — 0.2% |
|
|||||||
| 35 | Ventas, Inc. | 2,025 | ||||||
| 119 | Welltower, Inc. | 10,104 | ||||||
|
|
|
|||||||
| 12,129 | ||||||||
|
|
|
|||||||
| REITs – Hotels — 0.0% |
|
|||||||
| 121 | Host Hotels & Resorts, Inc. | 1,977 | ||||||
|
|
|
|||||||
| REITs – Office Property — 0.6% |
|
|||||||
| 20 | Boston Properties, Inc. | 2,867 | ||||||
| 174 | Corporate Office Properties Trust | 5,180 | ||||||
| 202 | Douglas Emmett, Inc. | 8,383 | ||||||
| 274 | Easterly Government Properties, Inc. | 6,633 | ||||||
| 91 | Kilroy Realty Corp. | 7,514 | ||||||
|
|
|
|||||||
| 30,577 | ||||||||
|
|
|
|||||||
| REITs – Regional Malls — 0.1% |
|
|||||||
| 19 | Simon Property Group, Inc. | 2,530 | ||||||
|
|
|
|||||||
| REITs – Storage — 0.0% |
|
|||||||
| 31 | Iron Mountain, Inc. | 980 | ||||||
| 6 | Public Storage | 1,342 | ||||||
|
|
|
|||||||
| 2,322 | ||||||||
|
|
|
|||||||
| REITs – Warehouse/Industrials — 0.2% |
|
|||||||
| 56 | CyrusOne, Inc. | 3,408 | ||||||
| 147 | Liberty Property Trust | 9,209 | ||||||
|
|
|
|||||||
| 12,617 | ||||||||
|
|
|
|||||||
| Road & Rail — 0.5% |
|
|||||||
| 18 | Kansas City Southern | 3,036 | ||||||
| 51 | Norfolk Southern Corp. | 10,619 | ||||||
| 50 | Ryder System, Inc. | 2,386 | ||||||
| 56 | Union Pacific Corp. | 10,048 | ||||||
|
|
|
|||||||
| 26,089 | ||||||||
|
|
|
|||||||
| Semiconductors & Semiconductor Equipment — 2.0% |
|
|||||||
| 15 | Advanced Micro Devices, Inc.(a) | 705 | ||||||
| 65 | Applied Materials, Inc. | 3,769 | ||||||
| 38 | Cabot Microelectronics Corp. | 5,530 | ||||||
| 69 | Cirrus Logic, Inc.(a) | 5,300 | ||||||
| 49 | Cree, Inc.(a) | 2,278 | ||||||
| 166 | First Solar, Inc.(a) | 8,230 | ||||||
| 352 | Intel Corp. | 22,503 | ||||||
| 109 | NVIDIA Corp. | 25,771 | ||||||
| 229 | QUALCOMM, Inc. | 19,536 | ||||||
| 54 | Silicon Laboratories, Inc.(a) | 5,309 | ||||||
| 109 | Texas Instruments, Inc. | 13,151 | ||||||
|
|
|
|||||||
| 112,082 | ||||||||
|
|
|
|||||||
See accompanying notes to financial statements.
| 58
Table of Contents
Portfolio of Investments – as of January 31, 2020
Natixis Sustainable Future 2035 Fund – (continued)
See accompanying notes to financial statements.
59 |
Table of Contents
Portfolio of Investments – as of January 31, 2020
Natixis Sustainable Future 2035 Fund – (continued)
See accompanying notes to financial statements.
| 60
Table of Contents
Portfolio of Investments – as of January 31, 2020
Natixis Sustainable Future 2035 Fund – (continued)
| (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. |
|
||||||
| (d) | Variable rate security. Rate as of January 31, 2020 is disclosed. |
|
||||||
| 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 |
|
||||||
| LIBOR | London Interbank Offered Rate |
|
||||||
| MTN | Medium Term Note |
|
||||||
| REITs | Real Estate Investment Trusts |
|
||||||
Asset Allocation Summary at January 31, 2020
|
Equity |
79.2 | % | ||
|
Fixed Income |
20.8 | |||
|
|
|
|||
|
Total Investments |
100.0 | |||
|
Other assets less liabilities |
0.0 | |||
|
|
|
|||
|
Net Assets |
100.0 | % | ||
|
|
|
See accompanying notes to financial statements.
61 |
Table of Contents
Portfolio of Investments – as of January 31, 2020
Natixis Sustainable Future 2040 Fund
|
Shares |
Description | Value (†) | ||||||
| Common Stocks — 56.4% of Net Assets | ||||||||
| Aerospace & Defense — 0.4% |
|
|||||||
| 29 | Axon Enterprise, Inc.(a) | $ | 2,227 | |||||
| 42 | Moog, Inc., Class A | 3,764 | ||||||
| 5 | Raytheon Co. | 1,105 | ||||||
| 22 | Teledyne Technologies, Inc.(a) | 8,031 | ||||||
| 45 | United Technologies Corp. | 6,759 | ||||||
|
|
|
|||||||
| 21,886 | ||||||||
|
|
|
|||||||
| Air Freight & Logistics — 0.7% |
|
|||||||
| 344 | Expeditors International of Washington, Inc. | 25,126 | ||||||
| 52 | FedEx Corp. | 7,521 | ||||||
| 60 | United Parcel Service, Inc., Class B | 6,211 | ||||||
|
|
|
|||||||
| 38,858 | ||||||||
|
|
|
|||||||
| Airlines — 0.2% |
|
|||||||
| 378 | American Airlines Group, Inc. | 10,146 | ||||||
| 18 | Delta Air Lines, Inc. | 1,003 | ||||||
|
|
|
|||||||
| 11,149 | ||||||||
|
|
|
|||||||
| Auto Components — 0.4% |
|
|||||||
| 178 | American Axle & Manufacturing Holdings, Inc.(a) | 1,645 | ||||||
| 115 | Aptiv PLC | 9,751 | ||||||
| 18 | BorgWarner, Inc. | 617 | ||||||
| 171 | Delphi Technologies PLC(a) | 2,623 | ||||||
| 189 | Goodyear Tire & Rubber Co. (The) | 2,481 | ||||||
| 39 | Visteon Corp.(a) | 3,113 | ||||||
|
|
|
|||||||
| 20,230 | ||||||||
|
|
|
|||||||
| Automobiles — 0.6% |
|
|||||||
| 1,094 | Fiat Chrysler Automobiles NV | 14,244 | ||||||
| 433 | General Motors Co. | 14,458 | ||||||
| 41 | Thor Industries, Inc. | 3,301 | ||||||
|
|
|
|||||||
| 32,003 | ||||||||
|
|
|
|||||||
| Banks — 3.7% |
|
|||||||
| 109 | Ameris Bancorp | 4,381 | ||||||
| 200 | BancorpSouth Bank | 5,714 | ||||||
| 928 | Bank of America Corp. | 30,466 | ||||||
| 434 | Cadence BanCorp | 6,783 | ||||||
| 429 | Citigroup, Inc. | 31,922 | ||||||
| 256 | Citizens Financial Group, Inc. | 9,544 | ||||||
| 152 | Columbia Banking System, Inc. | 5,882 | ||||||
| 11 | Comerica, Inc. | 673 | ||||||
| 97 | Cullen/Frost Bankers, Inc. | 8,649 | ||||||
| 349 | Fulton Financial Corp. | 5,748 | ||||||
| 304 | Huntington Bancshares, Inc. | 4,125 | ||||||
| 178 | International Bancshares Corp. | 7,013 | ||||||
| 440 | KeyCorp | 8,232 | ||||||
| 25 | M&T Bank Corp. | 4,213 | ||||||
| 680 | People’s United Financial, Inc. | 10,486 | ||||||
| 85 | PNC Financial Services Group, Inc. (The) | 12,627 | ||||||
| 169 | Regions Financial Corp. | 2,631 | ||||||
| 161 | TCF Financial Corp. | 6,807 | ||||||
| 141 | Truist Financial Corp. | 7,271 | ||||||
| 274 | Trustmark Corp. | 8,763 | ||||||
| 365 | Wells Fargo & Co. | 17,133 | ||||||
| 73 | Wintrust Financial Corp. | 4,620 | ||||||
| 149 | Zions Bancorp N.A. | 6,778 | ||||||
|
|
|
|||||||
| 210,461 | ||||||||
|
|
|
|||||||
| Beverages — 1.6% |
|
|||||||
| 114 | Brown-Forman Corp., Class B | 7,711 | ||||||
| 422 | Coca-Cola Co. (The) | 24,645 | ||||||
| 75 | Constellation Brands, Inc., Class A | 14,123 | ||||||
| 539 | Monster Beverage Corp.(a) | 35,897 | ||||||
| 51 | PepsiCo, Inc. | 7,243 | ||||||
|
|
|
|||||||
| 89,619 | ||||||||
|
|
|
|||||||
| Biotechnology — 1.6% |
|
|||||||
| 73 | AbbVie, Inc. | 5,914 | ||||||
| 90 | Amgen, Inc. | 19,445 | ||||||
| 13 | Biogen, Inc.(a) | 3,495 | ||||||
| 144 | BioMarin Pharmaceutical, Inc.(a) | 12,024 | ||||||
| 119 | Gilead Sciences, Inc. | 7,521 | ||||||
| 27 | Ligand Pharmaceuticals, Inc.(a) | 2,371 | ||||||
| 118 | Regeneron Pharmaceuticals, Inc.(a) | 39,877 | ||||||
| 7 | Vertex Pharmaceuticals, Inc.(a) | 1,589 | ||||||
|
|
|
|||||||
| 92,236 | ||||||||
|
|
|
|||||||
| Building Products — 0.3% |
|
|||||||
| 244 | Johnson Controls International PLC | 9,626 | ||||||
| 29 | Lennox International, Inc. | 6,756 | ||||||
|
|
|
|||||||
| 16,382 | ||||||||
|
|
|
|||||||
| Capital Markets — 4.1% |
|
|||||||
| 4 | Affiliated Managers Group, Inc. | 319 | ||||||
| 12 | Ameriprise Financial, Inc. | 1,985 | ||||||
| 506 | Bank of New York Mellon Corp. (The) | 22,659 | ||||||
| 19 | BlackRock, Inc. | 10,020 | ||||||
| 526 | Charles Schwab Corp. (The) | 23,959 | ||||||
| 25 | CME Group, Inc. | 5,428 | ||||||
| 65 | FactSet Research Systems, Inc. | 18,597 | ||||||
| 121 | Franklin Resources, Inc. | 3,061 | ||||||
| 61 | Goldman Sachs Group, Inc. (The) | 14,503 | ||||||
| 63 | Intercontinental Exchange, Inc. | 6,284 | ||||||
| 39 | Invesco Ltd. | 675 | ||||||
| 139 | Janus Henderson Group PLC | 3,513 | ||||||
| 144 | Legg Mason, Inc. | 5,638 | ||||||
| 94 | Moody’s Corp. | 24,138 | ||||||
| 71 | MSCI, Inc. | 20,292 | ||||||
| 66 | Northern Trust Corp. | 6,455 | ||||||
| 58 | S&P Global, Inc. | 17,036 | ||||||
| 294 | SEI Investments Co. | 19,186 | ||||||
| 376 | State Street Corp. | 28,437 | ||||||
|
|
|
|||||||
| 232,185 | ||||||||
|
|
|
|||||||
| Chemicals — 0.8% |
|
|||||||
| 33 | DuPont de Nemours, Inc. | 1,689 | ||||||
| 69 | Ecolab, Inc. | 13,532 | ||||||
| 78 | HB Fuller Co. | 3,604 | ||||||
| 54 | Innospec, Inc. | 5,439 | ||||||
| 16 | International Flavors & Fragrances, Inc. | 2,098 | ||||||
| 53 | Linde PLC | 10,766 | ||||||
| 64 | Minerals Technologies, Inc. | 3,464 | ||||||
| 37 | Stepan Co. | 3,650 | ||||||
|
|
|
|||||||
| 44,242 | ||||||||
|
|
|
|||||||
| Commercial Services & Supplies — 0.3% |
|
|||||||
| 68 | Healthcare Services Group, Inc. | 1,741 | ||||||
| 40 | MSA Safety, Inc. | 5,424 | ||||||
| 58 | Tetra Tech, Inc. | 4,964 | ||||||
| 57 | Waste Management, Inc. | 6,937 | ||||||
|
|
|
|||||||
| 19,066 | ||||||||
|
|
|
|||||||
| Communications Equipment — 0.8% |
|
|||||||
| 92 | Ciena Corp.(a) | 3,742 | ||||||
| 632 | Cisco Systems, Inc. | 29,053 | ||||||
| 8 | F5 Networks, Inc.(a) | 977 | ||||||
| 49 | InterDigital, Inc. | 2,707 | ||||||
| 53 | Lumentum Holdings, Inc.(a) | 4,016 | ||||||
| 22 | Motorola Solutions, Inc. | 3,894 | ||||||
|
|
|
|||||||
| 44,389 | ||||||||
|
|
|
|||||||
| Construction & Engineering — 0.2% |
|
|||||||
| 179 | AECOM(a) | 8,633 | ||||||
See accompanying notes to financial statements.
| 62
Table of Contents
Portfolio of Investments – as of January 31, 2020
Natixis Sustainable Future 2040 Fund – (continued)
|
Shares |
Description | Value (†) | ||||||
| Construction & Engineering — continued |
|
|||||||
| 214 | Fluor Corp. | $ | 3,829 | |||||
|
|
|
|||||||
| 12,462 | ||||||||
|
|
|
|||||||
| Consumer Finance — 0.6% |
|
|||||||
| 42 | American Express Co. | 5,454 | ||||||
| 272 | Capital One Financial Corp. | 27,146 | ||||||
| 137 | Navient Corp. | 1,970 | ||||||
|
|
|
|||||||
| 34,570 | ||||||||
|
|
|
|||||||
| Containers & Packaging — 0.2% |
|
|||||||
| 98 | Ball Corp. | 7,074 | ||||||
| 49 | International Paper Co. | 1,995 | ||||||
| 278 | O-I Glass, Inc. | 3,508 | ||||||
|
|
|
|||||||
| 12,577 | ||||||||
|
|
|
|||||||
| Distributors — 0.2% |
|
|||||||
| 39 | Genuine Parts Co. | 3,649 | ||||||
| 27 | POOL CORP. | 5,921 | ||||||
|
|
|
|||||||
| 9,570 | ||||||||
|
|
|
|||||||
| Diversified Consumer Services — 0.1% |
|
|||||||
| 118 | Service Corp. International | 5,658 | ||||||
|
|
|
|||||||
| Diversified Telecommunication Services — 0.3% |
|
|||||||
| 216 | AT&T, Inc. | 8,126 | ||||||
| 116 | Verizon Communications, Inc. | 6,895 | ||||||
|
|
|
|||||||
| 15,021 | ||||||||
|
|
|
|||||||
| Electric Utilities — 0.5% |
|
|||||||
| 128 | American Electric Power Co., Inc. | 13,340 | ||||||
| 21 | Edison International | 1,608 | ||||||
| 29 | Eversource Energy | 2,681 | ||||||
| 26 | FirstEnergy Corp. | 1,320 | ||||||
| 53 | IDACORP, Inc. | 5,946 | ||||||
| 47 | PPL Corp. | 1,701 | ||||||
|
|
|
|||||||
| 26,596 | ||||||||
|
|
|
|||||||
| Electrical Equipment — 0.2% |
|
|||||||
| 21 | Acuity Brands, Inc. | 2,475 | ||||||
| 64 | Eaton Corp. PLC | 6,046 | ||||||
| 36 | Hubbell, Inc. | 5,157 | ||||||
|
|
|
|||||||
| 13,678 | ||||||||
|
|
|
|||||||
| Electronic Equipment, Instruments & Components — 0.9% |
|
|||||||
| 97 | Avnet, Inc. | 3,540 | ||||||
| 42 | Belden, Inc. | 2,069 | ||||||
| 102 | Cognex Corp. | 5,199 | ||||||
| 23 | Coherent, Inc.(a) | 3,253 | ||||||
| 43 | Corning, Inc. | 1,148 | ||||||
| 20 | Littelfuse, Inc. | 3,538 | ||||||
| 19 | Rogers Corp.(a) | 2,237 | ||||||
| 202 | TE Connectivity Ltd. | 18,620 | ||||||
| 118 | Trimble, Inc.(a) | 5,017 | ||||||
| 175 | Vishay Intertechnology, Inc. | 3,551 | ||||||
|
|
|
|||||||
| 48,172 | ||||||||
|
|
|
|||||||
| Energy Equipment & Services — 0.4% |
|
|||||||
| 60 | Apergy Corp.(a) | 1,552 | ||||||
| 65 | Baker Hughes Co. | 1,408 | ||||||
| 32 | Core Laboratories NV | 1,124 | ||||||
| 96 | National Oilwell Varco, Inc. | 1,978 | ||||||
| 102 | Oceaneering International, Inc.(a) | 1,266 | ||||||
| 90 | Oil States International, Inc.(a) | 970 | ||||||
| 458 | Schlumberger Ltd. | 15,347 | ||||||
| 66 | TechnipFMC PLC | 1,090 | ||||||
|
|
|
|||||||
| 24,735 | ||||||||
|
|
|
|||||||
| Entertainment — 1.2% |
|
|||||||
| 40 | Activision Blizzard, Inc. | 2,339 | ||||||
| 84 | Cinemark Holdings, Inc. | 2,647 | ||||||
| 26 | Electronic Arts, Inc.(a) | 2,806 | ||||||
| 91 | Netflix, Inc.(a) | 31,403 | ||||||
| 35 | Take-Two Interactive Software, Inc.(a) | 4,362 | ||||||
| 189 | Walt Disney Co. (The) | 26,141 | ||||||
|
|
|
|||||||
| 69,698 | ||||||||
|
|
|
|||||||
| Food & Staples Retailing — 0.3% |
|
|||||||
| 125 | Kroger Co. (The) | 3,357 | ||||||
| 315 | SpartanNash Co. | 3,837 | ||||||
| 36 | Sysco Corp. | 2,957 | ||||||
| 115 | Walgreens Boots Alliance, Inc. | 5,848 | ||||||
|
|
|
|||||||
| 15,999 | ||||||||
|
|
|
|||||||
| Food Products — 0.7% |
|
|||||||
| 72 | Campbell Soup Co. | 3,484 | ||||||
| 827 | Danone S.A., Sponsored ADR | 13,190 | ||||||
| 53 | General Mills, Inc. | 2,768 | ||||||
| 101 | Hain Celestial Group, Inc. (The)(a) | 2,445 | ||||||
| 5 | Hershey Co. (The) | 776 | ||||||
| 41 | Hormel Foods Corp. | 1,938 | ||||||
| 53 | Ingredion, Inc. | 4,664 | ||||||
| 15 | J.M. Smucker Co. (The) | 1,554 | ||||||
| 70 | Kellogg Co. | 4,775 | ||||||
| 8 | McCormick & Co., Inc. | 1,307 | ||||||
| 26 | Mondelez International, Inc., Class A | 1,492 | ||||||
|
|
|
|||||||
| 38,393 | ||||||||
|
|
|
|||||||
| Gas Utilities — 0.3% |
|
|||||||
| 104 | New Jersey Resources Corp. | 4,297 | ||||||
| 60 | ONE Gas, Inc. | 5,670 | ||||||
| 114 | South Jersey Industries, Inc. | 3,511 | ||||||
| 128 | UGI Corp. | 5,324 | ||||||
|
|
|
|||||||
| 18,802 | ||||||||
|
|
|
|||||||
| Health Care Equipment & Supplies — 0.8% |
|
|||||||
| 3 | Becton Dickinson & Co. | 826 | ||||||
| 31 | Boston Scientific Corp.(a) | 1,298 | ||||||
| 5 | Cooper Cos., Inc. (The) | 1,734 | ||||||
| 22 | Danaher Corp. | 3,539 | ||||||
| 19 | DENTSPLY SIRONA, Inc. | 1,064 | ||||||
| 5 | Edwards Lifesciences Corp.(a) | 1,099 | ||||||
| 54 | Globus Medical, Inc., Class A(a) | 2,823 | ||||||
| 28 | Haemonetics Corp.(a) | 3,007 | ||||||
| 53 | Hill-Rom Holdings, Inc. | 5,644 | ||||||
| 30 | Hologic, Inc.(a) | 1,606 | ||||||
| 2 | Intuitive Surgical, Inc.(a) | 1,120 | ||||||
| 186 | Meridian Bioscience, Inc. | 1,830 | ||||||
| 41 | Merit Medical Systems, Inc.(a) | 1,493 | ||||||
| 7 | STERIS PLC | 1,055 | ||||||
| 6 | Stryker Corp. | 1,264 | ||||||
| 51 | Varian Medical Systems, Inc.(a) | 7,169 | ||||||
| 38 | West Pharmaceutical Services, Inc. | 5,926 | ||||||
|
|
|
|||||||
| 42,497 | ||||||||
|
|
|
|||||||
| Health Care Providers & Services — 2.0% |
|
|||||||
| 57 | Acadia Healthcare Co., Inc.(a) | 1,831 | ||||||
| 19 | Amedisys, Inc.(a) | 3,353 | ||||||
| 10 | Anthem, Inc. | 2,653 | ||||||
| 40 | BioTelemetry, Inc.(a) | 1,957 | ||||||
| 102 | Centene Corp.(a) | 6,407 | ||||||
| 13 | Chemed Corp. | 6,072 | ||||||
| 17 | Cigna Corp. | 3,270 | ||||||
| 293 | CVS Health Corp. | 19,871 | ||||||
| 22 | DaVita, Inc.(a) | 1,757 | ||||||
See accompanying notes to financial statements.
63 |
Table of Contents
Portfolio of Investments – as of January 31, 2020
Natixis Sustainable Future 2040 Fund – (continued)
|
Shares |
Description | Value (†) | ||||||
| Health Care Providers & Services — continued |
|
|||||||
| 51 | Encompass Health Corp. | $ | 3,929 | |||||
| 129 | HCA Healthcare, Inc. | 17,905 | ||||||
| 31 | Henry Schein, Inc.(a) | 2,137 | ||||||
| 53 | Humana, Inc. | 17,821 | ||||||
| 23 | Laboratory Corp. of America Holdings(a) | 4,034 | ||||||
| 208 | MEDNAX, Inc.(a) | 4,799 | ||||||
| 92 | Patterson Cos., Inc. | 2,025 | ||||||
| 36 | Quest Diagnostics, Inc. | 3,984 | ||||||
| 43 | UnitedHealth Group, Inc. | 11,715 | ||||||
|
|
|
|||||||
| 115,520 | ||||||||
|
|
|
|||||||
| Health Care Technology — 0.4% |
|
|||||||
| 197 | Allscripts Healthcare Solutions, Inc.(a) | 1,690 | ||||||
| 265 | Cerner Corp. | 19,035 | ||||||
| 98 | HMS Holdings Corp.(a) | 2,678 | ||||||
|
|
|
|||||||
| 23,403 | ||||||||
|
|
|
|||||||
| Hotels, Restaurants & Leisure — 1.9% |
|
|||||||
| 17 | Domino’s Pizza, Inc. | 4,790 | ||||||
| 53 | Dunkin’ Brands Group, Inc. | 4,139 | ||||||
| 127 | Hilton Worldwide Holdings, Inc. | 13,690 | ||||||
| 32 | Jack in the Box, Inc. | 2,616 | ||||||
| 34 | Marriott Vacations Worldwide Corp. | 4,088 | ||||||
| 12 | McDonald’s Corp. | 2,568 | ||||||
| 613 | MGM Resorts International | 19,040 | ||||||
| 11 | Royal Caribbean Cruises Ltd. | 1,288 | ||||||
| 215 | Starbucks Corp. | 18,238 | ||||||
| 196 | Wendy’s Co. (The) | 4,247 | ||||||
| 512 | Yum China Holdings, Inc. | 22,052 | ||||||
| 101 | Yum! Brands, Inc. | 10,683 | ||||||
|
|
|
|||||||
| 107,439 | ||||||||
|
|
|
|||||||
| Household Durables — 0.3% |
|
|||||||
| 160 | KB Home | 6,008 | ||||||
| 120 | Meritage Homes Corp.(a) | 8,515 | ||||||
|
|
|
|||||||
| 14,523 | ||||||||
|
|
|
|||||||
| Household Products — 0.9% |
|
|||||||
| 212 | Colgate-Palmolive Co. | 15,641 | ||||||
| 261 | Procter & Gamble Co. (The) | 32,526 | ||||||
|
|
|
|||||||
| 48,167 | ||||||||
|
|
|
|||||||
| Independent Power & Renewable Electricity Producers — 0.5% |
|
|||||||
| 94 | AES Corp. (The) | 1,867 | ||||||
| 182 | Ormat Technologies, Inc. | 14,425 | ||||||
| 429 | Pattern Energy Group, Inc., Class A | 11,545 | ||||||
|
|
|
|||||||
| 27,837 | ||||||||
|
|
|
|||||||
| Industrial Conglomerates — 0.4% |
|
|||||||
| 1,805 | General Electric Co. | 22,472 | ||||||
| 9 | Honeywell International, Inc. | 1,559 | ||||||
|
|
|
|||||||
| 24,031 | ||||||||
|
|
|
|||||||
| Insurance — 1.2% |
|
|||||||
| 31 | Aflac, Inc. | 1,599 | ||||||
| 49 | Allstate Corp. (The) | 5,809 | ||||||
| 364 | American International Group, Inc. | 18,295 | ||||||
| 26 | Brighthouse Financial, Inc.(a) | 1,011 | ||||||
| 69 | Chubb Ltd. | 10,487 | ||||||
| 90 | First American Financial Corp. | 5,578 | ||||||
| 35 | Hanover Insurance Group, Inc. (The) | 4,850 | ||||||
| 57 | Hartford Financial Services Group, Inc. (The) | 3,379 | ||||||
| 53 | Lincoln National Corp. | 2,887 | ||||||
| 29 | Marsh & McLennan Cos., Inc. | 3,244 | ||||||
| 92 | Prudential Financial, Inc. | 8,378 | ||||||
| 32 | Travelers Cos., Inc. (The) | 4,212 | ||||||
|
|
|
|||||||
| 69,729 | ||||||||
|
|
|
|||||||
| Interactive Media & Services — 2.6% |
|
|||||||
| 21 | Alphabet, Inc., Class A(a) | $ | 30,088 | |||||
| 42 | Alphabet, Inc., Class C(a) | 60,238 | ||||||
| 294 | Facebook, Inc., Class A(a) | 59,362 | ||||||
|
|
|
|||||||
| 149,688 | ||||||||
|
|
|
|||||||
| Internet & Direct Marketing Retail — 2.5% |
|
|||||||
| 215 | Alibaba Group Holding Ltd., Sponsored ADR(a) | 44,417 | ||||||
| 26 | Amazon.com, Inc.(a) | 52,227 | ||||||
| 13 | Booking Holdings, Inc.(a) | 23,797 | ||||||
| 481 | eBay, Inc. | 16,142 | ||||||
| 68 | Etsy, Inc.(a) | 3,319 | ||||||
|
|
|
|||||||
| 139,902 | ||||||||
|
|
|
|||||||
| IT Services — 3.0% |
|
|||||||
| 122 | Automatic Data Processing, Inc. | 20,910 | ||||||
| 80 | Cognizant Technology Solutions Corp., Class A | 4,910 | ||||||
| 407 | DXC Technology Co. | 12,975 | ||||||
| 19 | Fiserv, Inc.(a) | 2,254 | ||||||
| 82 | Gartner, Inc.(a) | 13,184 | ||||||
| 31 | International Business Machines Corp. | 4,456 | ||||||
| 70 | MasterCard, Inc., Class A | 22,116 | ||||||
| 30 | Paychex, Inc. | 2,573 | ||||||
| 41 | PayPal Holdings, Inc.(a) | 4,669 | ||||||
| 273 | Sabre Corp. | 5,880 | ||||||
| 10 | VeriSign, Inc.(a) | 2,081 | ||||||
| 341 | Visa, Inc., Class A | 67,849 | ||||||
| 28 | WEX, Inc.(a) | 6,074 | ||||||
|
|
|
|||||||
| 169,931 | ||||||||
|
|
|
|||||||
| Leisure Products — 0.0% |
|
|||||||
| 120 | Callaway Golf Co. | 2,570 | ||||||
|
|
|
|||||||
| Life Sciences Tools & Services — 0.3% |
|
|||||||
| 24 | Agilent Technologies, Inc. | 1,982 | ||||||
| 2 | Illumina, Inc.(a) | 580 | ||||||
| 11 | IQVIA Holdings, Inc.(a) | 1,708 | ||||||
| 51 | Repligen Corp.(a) | 5,120 | ||||||
| 22 | Thermo Fisher Scientific, Inc. | 6,890 | ||||||
| 4 | Waters Corp.(a) | 895 | ||||||
|
|
|
|||||||
| 17,175 | ||||||||
|
|
|
|||||||
| Machinery — 2.0% |
|
|||||||
| 67 | AGCO Corp. | 4,699 | ||||||
| 545 | Briggs & Stratton Corp. | 2,000 | ||||||
| 135 | Caterpillar, Inc. | 17,732 | ||||||
| 85 | Cummins, Inc. | 13,597 | ||||||
| 131 | Deere & Co. | 20,774 | ||||||
| 62 | Flowserve Corp. | 2,894 | ||||||
| 89 | ITT, Inc. | 5,970 | ||||||
| 111 | Kennametal, Inc. | 3,473 | ||||||
| 71 | Oshkosh Corp. | 6,109 | ||||||
| 123 | Parker-Hannifin Corp. | 24,070 | ||||||
| 19 | Proto Labs, Inc.(a) | 1,967 | ||||||
| 87 | Terex Corp. | 2,205 | ||||||
| 78 | Toro Co. (The) | 6,242 | ||||||
| 22 | Xylem, Inc. | 1,797 | ||||||
|
|
|
|||||||
| 113,529 | ||||||||
|
|
|
|||||||
| Media — 1.2% |
|
|||||||
| 5 | Cable One, Inc. | 8,520 | ||||||
| 44 | Charter Communications, Inc., Class A(a) | 22,768 | ||||||
| 416 | Comcast Corp., Class A | 17,967 | ||||||
| 24 | Discovery, Inc., Series C(a) | 667 | ||||||
| 78 | Fox Corp., Class A | 2,892 | ||||||
| 95 | Interpublic Group of Cos., Inc. (The) | 2,157 | ||||||
| 95 | New York Times Co. (The), Class A | 3,041 | ||||||
| 56 | Omnicom Group, Inc. | 4,217 | ||||||
See accompanying notes to financial statements.
| 64
Table of Contents
Portfolio of Investments – as of January 31, 2020
Natixis Sustainable Future 2040 Fund – (continued)
|
Shares |
Description | Value (†) | ||||||
| Media — continued |
|
|||||||
| 83 | ViacomCBS, Inc., Class B | $ | 2,833 | |||||
|
|
|
|||||||
| 65,062 | ||||||||
|
|
|
|||||||
| Metals & Mining — 0.4% |
|
|||||||
| 158 | Commercial Metals Co. | 3,247 | ||||||
| 176 | Newmont Corp. | 7,931 | ||||||
| 12 | Nucor Corp. | 570 | ||||||
| 69 | Reliance Steel & Aluminum Co. | 7,921 | ||||||
| 45 | Royal Gold, Inc. | 5,189 | ||||||
|
|
|
|||||||
| 24,858 | ||||||||
|
|
|
|||||||
| Multi-Utilities — 0.3% |
|
|||||||
| 75 | Consolidated Edison, Inc. | 7,050 | ||||||
| 30 | DTE Energy Co. | 3,978 | ||||||
| 19 | Sempra Energy | 3,052 | ||||||
| 19 | WEC Energy Group, Inc. | 1,898 | ||||||
|
|
|
|||||||
| 15,978 | ||||||||
|
|
|
|||||||
| Multiline Retail — 0.1% |
|
|||||||
| 9 | Macy’s, Inc. | 143 | ||||||
| 62 | Target Corp. | 6,866 | ||||||
|
|
|
|||||||
| 7,009 | ||||||||
|
|
|
|||||||
| Oil, Gas & Consumable Fuels — 1.2% |
|
|||||||
| 573 | Apache Corp. | 15,723 | ||||||
| 123 | Concho Resources, Inc. | 9,321 | ||||||
| 961 | Denbury Resources, Inc.(a) | 947 | ||||||
| 100 | Devon Energy Corp. | 2,172 | ||||||
| 94 | Diamondback Energy, Inc. | 6,994 | ||||||
| 120 | EOG Resources, Inc. | 8,749 | ||||||
| 162 | EQT Corp. | 980 | ||||||
| 128 | Green Plains, Inc. | 1,596 | ||||||
| 228 | Marathon Oil Corp. | 2,592 | ||||||
| 146 | Noble Energy, Inc. | 2,886 | ||||||
| 78 | ONEOK, Inc. | 5,840 | ||||||
| 933 | Southwestern Energy Co.(a) | 1,465 | ||||||
| 38 | Valero Energy Corp. | 3,204 | ||||||
| 83 | World Fuel Services Corp. | 3,247 | ||||||
|
|
|
|||||||
| 65,716 | ||||||||
|
|
|
|||||||
| Paper & Forest Products — 0.1% |
|
|||||||
| 66 | Domtar Corp. | 2,298 | ||||||
| 116 | Louisiana-Pacific Corp. | 3,559 | ||||||
|
|
|
|||||||
| 5,857 | ||||||||
|
|
|
|||||||
| Personal Products — 0.0% |
|
|||||||
| 12 | Estee Lauder Cos., Inc. (The), Class A | 2,342 | ||||||
|
|
|
|||||||
| Pharmaceuticals — 1.8% |
|
|||||||
| 3 | Allergan PLC | 560 | ||||||
| 73 | Bristol-Myers Squibb Co. | 4,595 | ||||||
| 84 | Catalent, Inc.(a) | 5,132 | ||||||
| 47 | Eli Lilly & Co. | 6,563 | ||||||
| 174 | Merck & Co., Inc. | 14,867 | ||||||
| 145 | Novartis AG, Sponsored ADR | 13,704 | ||||||
| 347 | Novo Nordisk AS, Sponsored ADR | 21,108 | ||||||
| 24 | Perrigo Co. PLC | 1,369 | ||||||
| 258 | Pfizer, Inc. | 9,608 | ||||||
| 543 | Roche Holding AG, Sponsored ADR | 22,698 | ||||||
|
|
|
|||||||
| 100,204 | ||||||||
|
|
|
|||||||
| Professional Services — 0.3% |
|
|||||||
| 72 | Exponent, Inc. | 5,239 | ||||||
| 26 | Insperity, Inc. | 2,272 | ||||||
| 71 | Korn Ferry | 2,910 | ||||||
| 42 | ManpowerGroup, Inc. | 3,843 | ||||||
| 31 | Nielsen Holdings PLC | 632 | ||||||
|
|
|
|||||||
| 14,896 | ||||||||
|
|
|
|||||||
| Real Estate Management & Development — 0.2% |
|
|||||||
| 48 | CBRE Group, Inc., Class A(a) | $ | 2,931 | |||||
| 37 | Jones Lang LaSalle, Inc. | 6,283 | ||||||
|
|
|
|||||||
| 9,214 | ||||||||
|
|
|
|||||||
| REITs – Apartments — 0.5% |
|
|||||||
| 130 | American Campus Communities, Inc. | 5,963 | ||||||
| 10 | AvalonBay Communities, Inc. | 2,167 | ||||||
| 87 | Camden Property Trust | 9,781 | ||||||
| 47 | Equity Residential | 3,905 | ||||||
| 14 | Essex Property Trust, Inc. | 4,337 | ||||||
| 3 | Mid-America Apartment Communities, Inc. | 411 | ||||||
|
|
|
|||||||
| 26,564 | ||||||||
|
|
|
|||||||
| REITs – Diversified — 0.2% |
|
|||||||
| 19 | Crown Castle International Corp. | 2,847 | ||||||
| 16 | Digital Realty Trust, Inc. | 1,968 | ||||||
| 5 | Equinix, Inc. | 2,948 | ||||||
| 125 | Weyerhaeuser Co. | 3,619 | ||||||
|
|
|
|||||||
| 11,382 | ||||||||
|
|
|
|||||||
| REITs – Health Care — 0.2% |
|
|||||||
| 37 | Ventas, Inc. | 2,141 | ||||||
| 137 | Welltower, Inc. | 11,632 | ||||||
|
|
|
|||||||
| 13,773 | ||||||||
|
|
|
|||||||
| REITs – Hotels — 0.0% |
|
|||||||
| 133 | Host Hotels & Resorts, Inc. | 2,173 | ||||||
|
|
|
|||||||
| REITs – Office Property — 0.6% |
|
|||||||
| 19 | Boston Properties, Inc. | 2,724 | ||||||
| 196 | Corporate Office Properties Trust | 5,835 | ||||||
| 221 | Douglas Emmett, Inc. | 9,171 | ||||||
| 295 | Easterly Government Properties, Inc. | 7,142 | ||||||
| 98 | Kilroy Realty Corp. | 8,092 | ||||||
|
|
|
|||||||
| 32,964 | ||||||||
|
|
|
|||||||
| REITs – Regional Malls — 0.0% |
|
|||||||
| 19 | Simon Property Group, Inc. | 2,530 | ||||||
|
|
|
|||||||
| REITs – Storage — 0.0% |
|
|||||||
| 29 | Iron Mountain, Inc. | 917 | ||||||
| 7 | Public Storage | 1,566 | ||||||
|
|
|
|||||||
| 2,483 | ||||||||
|
|
|
|||||||
| REITs – Warehouse/Industrials — 0.2% |
|
|||||||
| 61 | CyrusOne, Inc. | 3,712 | ||||||
| 161 | Liberty Property Trust | 10,087 | ||||||
|
|
|
|||||||
| 13,799 | ||||||||
|
|
|
|||||||
| Road & Rail — 0.5% |
|
|||||||
| 21 | Kansas City Southern | 3,542 | ||||||
| 54 | Norfolk Southern Corp. | 11,243 | ||||||
| 55 | Ryder System, Inc. | 2,625 | ||||||
| 64 | Union Pacific Corp. | 11,483 | ||||||
|
|
|
|||||||
| 28,893 | ||||||||
|
|
|
|||||||
| Semiconductors & Semiconductor Equipment — 2.1% |
|
|||||||
| 15 | Advanced Micro Devices, Inc.(a) | 705 | ||||||
| 74 | Applied Materials, Inc. | 4,291 | ||||||
| 41 | Cabot Microelectronics Corp. | 5,966 | ||||||
| 75 | Cirrus Logic, Inc.(a) | 5,761 | ||||||
| 53 | Cree, Inc.(a) | 2,464 | ||||||
| 188 | First Solar, Inc.(a) | 9,321 | ||||||
| 396 | Intel Corp. | 25,316 | ||||||
| 111 | NVIDIA Corp. | 26,244 | ||||||
| 234 | QUALCOMM, Inc. | 19,962 | ||||||
| 58 | Silicon Laboratories, Inc.(a) | 5,702 | ||||||
| 118 | Texas Instruments, Inc. | 14,237 | ||||||
|
|
|
|||||||
| 119,969 | ||||||||
|
|
|
|||||||
See accompanying notes to financial statements.
65 |
Table of Contents
Portfolio of Investments – as of January 31, 2020
Natixis Sustainable Future 2040 Fund – (continued)
See accompanying notes to financial statements.
| 66
Table of Contents
Portfolio of Investments – as of January 31, 2020
Natixis Sustainable Future 2040 Fund – (continued)
See accompanying notes to financial statements.
67 |
Table of Contents
Portfolio of Investments – as of January 31, 2020
Natixis Sustainable Future 2040 Fund – (continued)
| (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 January 31, 2020 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. |
|
||||||
| (d) | Variable rate security. Rate as of January 31, 2020 is disclosed. |
|
||||||
| 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 |
|
||||||
| LIBOR | London Interbank Offered Rate |
|
||||||
| MTN | Medium Term Note |
|
||||||
| REITs | Real Estate Investment Trusts |
|
||||||
Asset Allocation Summary at January 31, 2020
|
Equity |
85.8 | % | ||
|
Fixed Income |
13.8 | |||
|
|
|
|||
|
Total Investments |
99.6 | |||
|
Other assets less liabilities |
0.4 | |||
|
|
|
|||
|
Net Assets |
100.0 | % | ||
|
|
|
See accompanying notes to financial statements.
| 68
Table of Contents
Portfolio of Investments – as of January 31, 2020
Natixis Sustainable Future 2045 Fund
|
Shares |
Description | Value (†) | ||||||
| Common Stocks — 58.4% of Net Assets | ||||||||
| Aerospace & Defense — 0.4% |
|
|||||||
| 27 | Axon Enterprise, Inc.(a) | $ | 2,074 | |||||
| 37 | Moog, Inc., Class A | 3,316 | ||||||
| 5 | Raytheon Co. | 1,105 | ||||||
| 20 | Teledyne Technologies, Inc.(a) | 7,301 | ||||||
| 47 | United Technologies Corp. | 7,059 | ||||||
|
|
|
|||||||
| 20,855 | ||||||||
|
|
|
|||||||
| Air Freight & Logistics — 0.7% |
|
|||||||
| 300 | Expeditors International of Washington, Inc. | 21,912 | ||||||
| 45 | FedEx Corp. | 6,509 | ||||||
| 59 | United Parcel Service, Inc., Class B | 6,108 | ||||||
|
|
|
|||||||
| 34,529 | ||||||||
|
|
|
|||||||
| Airlines — 0.2% |
|
|||||||
| 329 | American Airlines Group, Inc. | 8,830 | ||||||
| 17 | Delta Air Lines, Inc. | 948 | ||||||
|
|
|
|||||||
| 9,778 | ||||||||
|
|
|
|||||||
| Auto Components — 0.4% |
|
|||||||
| 167 | American Axle & Manufacturing Holdings, Inc.(a) | 1,543 | ||||||
| 101 | Aptiv PLC | 8,564 | ||||||
| 21 | BorgWarner, Inc. | 720 | ||||||
| 149 | Delphi Technologies PLC(a) | 2,285 | ||||||
| 167 | Goodyear Tire & Rubber Co. (The) | 2,193 | ||||||
| 33 | Visteon Corp.(a) | 2,634 | ||||||
|
|
|
|||||||
| 17,939 | ||||||||
|
|
|
|||||||
| Automobiles — 0.6% |
|
|||||||
| 956 | Fiat Chrysler Automobiles NV | 12,447 | ||||||
| 379 | General Motors Co. | 12,655 | ||||||
| 36 | Thor Industries, Inc. | 2,899 | ||||||
|
|
|
|||||||
| 28,001 | ||||||||
|
|
|
|||||||
| Banks — 3.9% |
|
|||||||
| 97 | Ameris Bancorp | 3,899 | ||||||
| 183 | BancorpSouth Bank | 5,228 | ||||||
| 811 | Bank of America Corp. | 26,625 | ||||||
| 396 | Cadence BanCorp | 6,190 | ||||||
| 376 | Citigroup, Inc. | 27,978 | ||||||
| 243 | Citizens Financial Group, Inc. | 9,059 | ||||||
| 139 | Columbia Banking System, Inc. | 5,379 | ||||||
| 12 | Comerica, Inc. | 734 | ||||||
| 89 | Cullen/Frost Bankers, Inc. | 7,935 | ||||||
| 319 | Fulton Financial Corp. | 5,254 | ||||||
| 272 | Huntington Bancshares, Inc. | 3,691 | ||||||
| 162 | International Bancshares Corp. | 6,383 | ||||||
| 410 | KeyCorp | 7,671 | ||||||
| 27 | M&T Bank Corp. | 4,550 | ||||||
| 646 | People’s United Financial, Inc. | 9,961 | ||||||
| 88 | PNC Financial Services Group, Inc. (The) | 13,073 | ||||||
| 165 | Regions Financial Corp. | 2,569 | ||||||
| 147 | TCF Financial Corp. | 6,215 | ||||||
| 144 | Truist Financial Corp. | 7,426 | ||||||
| 251 | Trustmark Corp. | 8,027 | ||||||
| 319 | Wells Fargo & Co. | 14,974 | ||||||
| 67 | Wintrust Financial Corp. | 4,240 | ||||||
| 133 | Zions Bancorp N.A. | 6,050 | ||||||
|
|
|
|||||||
| 193,111 | ||||||||
|
|
|
|||||||
| Beverages — 1.7% |
|
|||||||
| 102 | Brown-Forman Corp., Class B | 6,899 | ||||||
| 405 | Coca-Cola Co. (The) | 23,652 | ||||||
| 66 | Constellation Brands, Inc., Class A | 12,428 | ||||||
| 492 | Monster Beverage Corp.(a) | 32,767 | ||||||
| 52 | PepsiCo, Inc. | 7,385 | ||||||
|
|
|
|||||||
| 83,131 | ||||||||
|
|
|
|||||||
| Biotechnology — 1.7% |
|
|||||||
| 71 | AbbVie, Inc. | 5,752 | ||||||
| 84 | Amgen, Inc. | 18,148 | ||||||
| 13 | Biogen, Inc.(a) | 3,495 | ||||||
| 125 | BioMarin Pharmaceutical, Inc.(a) | 10,438 | ||||||
| 118 | Gilead Sciences, Inc. | 7,458 | ||||||
| 25 | Ligand Pharmaceuticals, Inc.(a) | 2,195 | ||||||
| 103 | Regeneron Pharmaceuticals, Inc.(a) | 34,808 | ||||||
| 4 | Vertex Pharmaceuticals, Inc.(a) | 908 | ||||||
|
|
|
|||||||
| 83,202 | ||||||||
|
|
|
|||||||
| Building Products — 0.3% |
|
|||||||
| 250 | Johnson Controls International PLC | 9,862 | ||||||
| 25 | Lennox International, Inc. | 5,825 | ||||||
|
|
|
|||||||
| 15,687 | ||||||||
|
|
|
|||||||
| Capital Markets — 4.3% |
|
|||||||
| 10 | Affiliated Managers Group, Inc. | 798 | ||||||
| 12 | Ameriprise Financial, Inc. | 1,985 | ||||||
| 462 | Bank of New York Mellon Corp. (The) | 20,688 | ||||||
| 18 | BlackRock, Inc. | 9,492 | ||||||
| 462 | Charles Schwab Corp. (The) | 21,044 | ||||||
| 23 | CME Group, Inc. | 4,994 | ||||||
| 64 | FactSet Research Systems, Inc. | 18,311 | ||||||
| 110 | Franklin Resources, Inc. | 2,783 | ||||||
| 53 | Goldman Sachs Group, Inc. (The) | 12,601 | ||||||
| 61 | Intercontinental Exchange, Inc. | 6,084 | ||||||
| 72 | Invesco Ltd. | 1,246 | ||||||
| 123 | Janus Henderson Group PLC | 3,108 | ||||||
| 126 | Legg Mason, Inc. | 4,933 | ||||||
| 82 | Moody’s Corp. | 21,057 | ||||||
| 64 | MSCI, Inc. | 18,291 | ||||||
| 65 | Northern Trust Corp. | 6,358 | ||||||
| 51 | S&P Global, Inc. | 14,980 | ||||||
| 259 | SEI Investments Co. | 16,902 | ||||||
| 336 | State Street Corp. | 25,412 | ||||||
|
|
|
|||||||
| 211,067 | ||||||||
|
|
|
|||||||
| Chemicals — 0.8% |
|
|||||||
| 32 | DuPont de Nemours, Inc. | 1,638 | ||||||
| 62 | Ecolab, Inc. | 12,159 | ||||||
| 67 | HB Fuller Co. | 3,096 | ||||||
| 49 | Innospec, Inc. | 4,936 | ||||||
| 14 | International Flavors & Fragrances, Inc. | 1,835 | ||||||
| 55 | Linde PLC | 11,172 | ||||||
| 59 | Minerals Technologies, Inc. | 3,194 | ||||||
| 33 | Stepan Co. | 3,255 | ||||||
|
|
|
|||||||
| 41,285 | ||||||||
|
|
|
|||||||
| Commercial Services & Supplies — 0.3% |
|
|||||||
| 64 | Healthcare Services Group, Inc. | 1,638 | ||||||
| 36 | MSA Safety, Inc. | 4,882 | ||||||
| 53 | Tetra Tech, Inc. | 4,537 | ||||||
| 51 | Waste Management, Inc. | 6,207 | ||||||
|
|
|
|||||||
| 17,264 | ||||||||
|
|
|
|||||||
| Communications Equipment — 0.8% |
|
|||||||
| 82 | Ciena Corp.(a) | 3,335 | ||||||
| 561 | Cisco Systems, Inc. | 25,789 | ||||||
| 8 | F5 Networks, Inc.(a) | 977 | ||||||
| 44 | InterDigital, Inc. | 2,431 | ||||||
| 48 | Lumentum Holdings, Inc.(a) | 3,637 | ||||||
| 20 | Motorola Solutions, Inc. | 3,540 | ||||||
|
|
|
|||||||
| 39,709 | ||||||||
|
|
|
|||||||
| Construction & Engineering — 0.2% |
|
|||||||
| 163 | AECOM(a) | 7,862 | ||||||
See accompanying notes to financial statements.
69 |
Table of Contents
Portfolio of Investments – as of January 31, 2020
Natixis Sustainable Future 2045 Fund – (continued)
|
Shares |
Description | Value (†) | ||||||
| Construction & Engineering — continued |
|
|||||||
| 190 | Fluor Corp. | $ | 3,399 | |||||
|
|
|
|||||||
| 11,261 | ||||||||
|
|
|
|||||||
| Consumer Finance — 0.6% |
|
|||||||
| 43 | American Express Co. | 5,585 | ||||||
| 238 | Capital One Financial Corp. | 23,752 | ||||||
| 122 | Navient Corp. | 1,754 | ||||||
|
|
|
|||||||
| 31,091 | ||||||||
|
|
|
|||||||
| Containers & Packaging — 0.2% |
|
|||||||
| 94 | Ball Corp. | 6,785 | ||||||
| 51 | International Paper Co. | 2,077 | ||||||
| 243 | O-I Glass, Inc. | 3,066 | ||||||
|
|
|
|||||||
| 11,928 | ||||||||
|
|
|
|||||||
| Distributors — 0.2% |
|
|||||||
| 40 | Genuine Parts Co. | 3,743 | ||||||
| 24 | POOL CORP. | 5,263 | ||||||
|
|
|
|||||||
| 9,006 | ||||||||
|
|
|
|||||||
| Diversified Consumer Services — 0.1% |
|
|||||||
| 103 | Service Corp. International | 4,939 | ||||||
|
|
|
|||||||
| Diversified Telecommunication Services — 0.3% |
|
|||||||
| 193 | AT&T, Inc. | 7,260 | ||||||
| 104 | Verizon Communications, Inc. | 6,182 | ||||||
|
|
|
|||||||
| 13,442 | ||||||||
|
|
|
|||||||
| Electric Utilities — 0.5% |
|
|||||||
| 132 | American Electric Power Co., Inc. | 13,757 | ||||||
| 18 | Edison International | 1,378 | ||||||
| 33 | Eversource Energy | 3,050 | ||||||
| 25 | FirstEnergy Corp. | 1,270 | ||||||
| 48 | IDACORP, Inc. | 5,385 | ||||||
| 45 | PPL Corp. | 1,629 | ||||||
|
|
|
|||||||
| 26,469 | ||||||||
|
|
|
|||||||
| Electrical Equipment — 0.3% |
|
|||||||
| 17 | Acuity Brands, Inc. | 2,004 | ||||||
| 61 | Eaton Corp. PLC | 5,763 | ||||||
| 33 | Hubbell, Inc. | 4,726 | ||||||
|
|
|
|||||||
| 12,493 | ||||||||
|
|
|
|||||||
| Electronic Equipment, Instruments & Components — 0.9% |
|
|||||||
| 86 | Avnet, Inc. | 3,138 | ||||||
| 39 | Belden, Inc. | 1,922 | ||||||
| 93 | Cognex Corp. | 4,740 | ||||||
| 20 | Coherent, Inc.(a) | 2,829 | ||||||
| 41 | Corning, Inc. | 1,094 | ||||||
| 18 | Littelfuse, Inc. | 3,184 | ||||||
| 16 | Rogers Corp.(a) | 1,884 | ||||||
| 177 | TE Connectivity Ltd. | 16,316 | ||||||
| 107 | Trimble, Inc.(a) | 4,550 | ||||||
| 156 | Vishay Intertechnology, Inc. | 3,165 | ||||||
|
|
|
|||||||
| 42,822 | ||||||||
|
|
|
|||||||
| Energy Equipment & Services — 0.5% |
|
|||||||
| 55 | Apergy Corp.(a) | 1,422 | ||||||
| 63 | Baker Hughes Co. | 1,365 | ||||||
| 26 | Core Laboratories NV | 913 | ||||||
| 88 | National Oilwell Varco, Inc. | 1,814 | ||||||
| 80 | Oceaneering International, Inc.(a) | 993 | ||||||
| 72 | Oil States International, Inc.(a) | 776 | ||||||
| 421 | Schlumberger Ltd. | 14,108 | ||||||
| 63 | TechnipFMC PLC | 1,040 | ||||||
|
|
|
|||||||
| 22,431 | ||||||||
|
|
|
|||||||
| Entertainment — 1.3% |
|
|||||||
| 36 | Activision Blizzard, Inc. | 2,105 | ||||||
| 75 | Cinemark Holdings, Inc. | 2,363 | ||||||
| 23 | Electronic Arts, Inc.(a) | 2,482 | ||||||
| 80 | Netflix, Inc.(a) | 27,607 | ||||||
| 31 | Take-Two Interactive Software, Inc.(a) | 3,864 | ||||||
| 183 | Walt Disney Co. (The) | 25,311 | ||||||
|
|
|
|||||||
| 63,732 | ||||||||
|
|
|
|||||||
| Food & Staples Retailing — 0.3% |
|
|||||||
| 97 | Kroger Co. (The) | 2,605 | ||||||
| 279 | SpartanNash Co. | 3,398 | ||||||
| 32 | Sysco Corp. | 2,629 | ||||||
| 111 | Walgreens Boots Alliance, Inc. | 5,644 | ||||||
|
|
|
|||||||
| 14,276 | ||||||||
|
|
|
|||||||
| Food Products — 0.7% |
|
|||||||
| 74 | Campbell Soup Co. | 3,581 | ||||||
| 656 | Danone S.A., Sponsored ADR | 10,463 | ||||||
| 55 | General Mills, Inc. | 2,872 | ||||||
| 90 | Hain Celestial Group, Inc. (The)(a) | 2,179 | ||||||
| 5 | Hershey Co. (The) | 776 | ||||||
| 42 | Hormel Foods Corp. | 1,985 | ||||||
| 48 | Ingredion, Inc. | 4,224 | ||||||
| 16 | J.M. Smucker Co. (The) | 1,658 | ||||||
| 67 | Kellogg Co. | 4,570 | ||||||
| 8 | McCormick & Co., Inc. | 1,307 | ||||||
| 13 | Mondelez International, Inc., Class A | 746 | ||||||
|
|
|
|||||||
| 34,361 | ||||||||
|
|
|
|||||||
| Gas Utilities — 0.3% |
|
|||||||
| 92 | New Jersey Resources Corp. | 3,801 | ||||||
| 53 | ONE Gas, Inc. | 5,009 | ||||||
| 101 | South Jersey Industries, Inc. | 3,111 | ||||||
| 117 | UGI Corp. | 4,866 | ||||||
|
|
|
|||||||
| 16,787 | ||||||||
|
|
|
|||||||
| Health Care Equipment & Supplies — 0.8% |
|
|||||||
| 3 | Becton Dickinson & Co. | 826 | ||||||
| 28 | Boston Scientific Corp.(a) | 1,172 | ||||||
| 5 | Cooper Cos., Inc. (The) | 1,735 | ||||||
| 20 | Danaher Corp. | 3,217 | ||||||
| 18 | DENTSPLY SIRONA, Inc. | 1,008 | ||||||
| 3 | Edwards Lifesciences Corp.(a) | 660 | ||||||
| 51 | Globus Medical, Inc., Class A(a) | 2,666 | ||||||
| 26 | Haemonetics Corp.(a) | 2,792 | ||||||
| 48 | Hill-Rom Holdings, Inc. | 5,112 | ||||||
| 29 | Hologic, Inc.(a) | 1,552 | ||||||
| 3 | Intuitive Surgical, Inc.(a) | 1,679 | ||||||
| 174 | Meridian Bioscience, Inc. | 1,712 | ||||||
| 33 | Merit Medical Systems, Inc.(a) | 1,202 | ||||||
| 7 | STERIS PLC | 1,055 | ||||||
| 3 | Stryker Corp. | 632 | ||||||
| 47 | Varian Medical Systems, Inc.(a) | 6,607 | ||||||
| 35 | West Pharmaceutical Services, Inc. | 5,458 | ||||||
|
|
|
|||||||
| 39,085 | ||||||||
|
|
|
|||||||
| Health Care Providers & Services — 2.1% |
|
|||||||
| 53 | Acadia Healthcare Co., Inc.(a) | 1,703 | ||||||
| 16 | Amedisys, Inc.(a) | 2,824 | ||||||
| 9 | Anthem, Inc. | 2,387 | ||||||
| 37 | BioTelemetry, Inc.(a) | 1,810 | ||||||
| 93 | Centene Corp.(a) | 5,841 | ||||||
| 12 | Chemed Corp. | 5,604 | ||||||
| 15 | Cigna Corp. | 2,886 | ||||||
| 257 | CVS Health Corp. | 17,430 | ||||||
| 21 | DaVita, Inc.(a) | 1,677 | ||||||
See accompanying notes to financial statements.
| 70
Table of Contents
Portfolio of Investments – as of January 31, 2020
Natixis Sustainable Future 2045 Fund – (continued)
|
Shares |
Description | Value (†) | ||||||
| Health Care Providers & Services — continued |
|
|||||||
| 45 | Encompass Health Corp. | $ | 3,466 | |||||
| 120 | HCA Healthcare, Inc. | 16,656 | ||||||
| 34 | Henry Schein, Inc.(a) | 2,344 | ||||||
| 49 | Humana, Inc. | 16,476 | ||||||
| 24 | Laboratory Corp. of America Holdings(a) | 4,210 | ||||||
| 181 | MEDNAX, Inc.(a) | 4,176 | ||||||
| 84 | Patterson Cos., Inc. | 1,849 | ||||||
| 37 | Quest Diagnostics, Inc. | 4,095 | ||||||
| 39 | UnitedHealth Group, Inc. | 10,625 | ||||||
|
|
|
|||||||
| 106,059 | ||||||||
|
|
|
|||||||
| Health Care Technology — 0.4% |
|
|||||||
| 184 | Allscripts Healthcare Solutions, Inc.(a) | 1,579 | ||||||
| 239 | Cerner Corp. | 17,167 | ||||||
| 87 | HMS Holdings Corp.(a) | 2,377 | ||||||
|
|
|
|||||||
| 21,123 | ||||||||
|
|
|
|||||||
| Hotels, Restaurants & Leisure — 1.9% |
|
|||||||
| 16 | Domino’s Pizza, Inc. | 4,508 | ||||||
| 50 | Dunkin’ Brands Group, Inc. | 3,904 | ||||||
| 111 | Hilton Worldwide Holdings, Inc. | 11,966 | ||||||
| 28 | Jack in the Box, Inc. | 2,289 | ||||||
| 30 | Marriott Vacations Worldwide Corp. | 3,607 | ||||||
| 11 | McDonald’s Corp. | 2,354 | ||||||
| 538 | MGM Resorts International | 16,710 | ||||||
| 10 | Royal Caribbean Cruises Ltd. | 1,171 | ||||||
| 193 | Starbucks Corp. | 16,372 | ||||||
| 174 | Wendy’s Co. (The) | 3,771 | ||||||
| 451 | Yum China Holdings, Inc. | 19,424 | ||||||
| 88 | Yum! Brands, Inc. | 9,308 | ||||||
|
|
|
|||||||
| 95,384 | ||||||||
|
|
|
|||||||
| Household Durables — 0.3% |
|
|||||||
| 147 | KB Home | 5,520 | ||||||
| 110 | Meritage Homes Corp.(a) | 7,805 | ||||||
|
|
|
|||||||
| 13,325 | ||||||||
|
|
|
|||||||
| Household Products — 0.9% |
|
|||||||
| 192 | Colgate-Palmolive Co. | 14,166 | ||||||
| 239 | Procter & Gamble Co. (The) | 29,784 | ||||||
|
|
|
|||||||
| 43,950 | ||||||||
|
|
|
|||||||
| Independent Power & Renewable Electricity Producers — 0.5% |
|
|||||||
| 90 | AES Corp. (The) | 1,787 | ||||||
| 162 | Ormat Technologies, Inc. | 12,840 | ||||||
| 384 | Pattern Energy Group, Inc., Class A | 10,334 | ||||||
|
|
|
|||||||
| 24,961 | ||||||||
|
|
|
|||||||
| Industrial Conglomerates — 0.4% |
|
|||||||
| 1,583 | General Electric Co. | 19,708 | ||||||
| 9 | Honeywell International, Inc. | 1,559 | ||||||
|
|
|
|||||||
| 21,267 | ||||||||
|
|
|
|||||||
| Insurance — 1.3% |
|
|||||||
| 28 | Aflac, Inc. | 1,444 | ||||||
| 45 | Allstate Corp. (The) | 5,334 | ||||||
| 318 | American International Group, Inc. | 15,983 | ||||||
| 23 | Brighthouse Financial, Inc.(a) | 895 | ||||||
| 72 | Chubb Ltd. | 10,943 | ||||||
| 80 | First American Financial Corp. | 4,958 | ||||||
| 30 | Hanover Insurance Group, Inc. (The) | 4,157 | ||||||
| 51 | Hartford Financial Services Group, Inc. (The) | 3,023 | ||||||
| 48 | Lincoln National Corp. | 2,615 | ||||||
| 30 | Marsh & McLennan Cos., Inc. | 3,356 | ||||||
| 91 | Prudential Financial, Inc. | 8,287 | ||||||
| 33 | Travelers Cos., Inc. (The) | 4,344 | ||||||
|
|
|
|||||||
| 65,339 | ||||||||
|
|
|
|||||||
| Interactive Media & Services — 2.6% |
|
|||||||
| 18 | Alphabet, Inc., Class A(a) | $ | 25,790 | |||||
| 37 | Alphabet, Inc., Class C(a) | 53,066 | ||||||
| 259 | Facebook, Inc., Class A(a) | 52,295 | ||||||
|
|
|
|||||||
| 131,151 | ||||||||
|
|
|
|||||||
| Internet & Direct Marketing Retail — 2.4% |
|
|||||||
| 189 | Alibaba Group Holding Ltd., Sponsored ADR(a) | 39,046 | ||||||
| 22 | Amazon.com, Inc.(a) | 44,192 | ||||||
| 11 | Booking Holdings, Inc.(a) | 20,136 | ||||||
| 424 | eBay, Inc. | 14,229 | ||||||
| 59 | Etsy, Inc.(a) | 2,880 | ||||||
|
|
|
|||||||
| 120,483 | ||||||||
|
|
|
|||||||
| IT Services — 3.1% |
|
|||||||
| 113 | Automatic Data Processing, Inc. | 19,367 | ||||||
| 78 | Cognizant Technology Solutions Corp., Class A | 4,788 | ||||||
| 362 | DXC Technology Co. | 11,541 | ||||||
| 17 | Fiserv, Inc.(a) | 2,016 | ||||||
| 72 | Gartner, Inc.(a) | 11,576 | ||||||
| 28 | International Business Machines Corp. | 4,024 | ||||||
| 63 | MasterCard, Inc., Class A | 19,904 | ||||||
| 27 | Paychex, Inc. | 2,316 | ||||||
| 37 | PayPal Holdings, Inc.(a) | 4,214 | ||||||
| 249 | Sabre Corp. | 5,363 | ||||||
| 11 | VeriSign, Inc.(a) | 2,290 | ||||||
| 302 | Visa, Inc., Class A | 60,089 | ||||||
| 24 | WEX, Inc.(a) | 5,206 | ||||||
|
|
|
|||||||
| 152,694 | ||||||||
|
|
|
|||||||
| Leisure Products — 0.0% |
|
|||||||
| 107 | Callaway Golf Co. | 2,292 | ||||||
|
|
|
|||||||
| Life Sciences Tools & Services — 0.3% |
|
|||||||
| 24 | Agilent Technologies, Inc. | 1,982 | ||||||
| 2 | Illumina, Inc.(a) | 580 | ||||||
| 13 | IQVIA Holdings, Inc.(a) | 2,018 | ||||||
| 46 | Repligen Corp.(a) | 4,618 | ||||||
| 20 | Thermo Fisher Scientific, Inc. | 6,264 | ||||||
| 5 | Waters Corp.(a) | 1,119 | ||||||
|
|
|
|||||||
| 16,581 | ||||||||
|
|
|
|||||||
| Machinery — 2.1% |
|
|||||||
| 59 | AGCO Corp. | 4,138 | ||||||
| 484 | Briggs & Stratton Corp. | 1,776 | ||||||
| 127 | Caterpillar, Inc. | 16,681 | ||||||
| 76 | Cummins, Inc. | 12,158 | ||||||
| 122 | Deere & Co. | 19,347 | ||||||
| 60 | Flowserve Corp. | 2,801 | ||||||
| 82 | ITT, Inc. | 5,501 | ||||||
| 104 | Kennametal, Inc. | 3,254 | ||||||
| 63 | Oshkosh Corp. | 5,421 | ||||||
| 110 | Parker-Hannifin Corp. | 21,526 | ||||||
| 16 | Proto Labs, Inc.(a) | 1,656 | ||||||
| 77 | Terex Corp. | 1,952 | ||||||
| 68 | Toro Co. (The) | 5,441 | ||||||
| 20 | Xylem, Inc. | 1,633 | ||||||
|
|
|
|||||||
| 103,285 | ||||||||
|
|
|
|||||||
| Media — 1.2% |
|
|||||||
| 5 | Cable One, Inc. | 8,520 | ||||||
| 39 | Charter Communications, Inc., Class A(a) | 20,181 | ||||||
| 364 | Comcast Corp., Class A | 15,721 | ||||||
| 29 | Discovery, Inc., Series C(a) | 805 | ||||||
| 70 | Fox Corp., Class A | 2,596 | ||||||
| 87 | Interpublic Group of Cos., Inc. (The) | 1,975 | ||||||
| 84 | New York Times Co. (The), Class A | 2,689 | ||||||
| 58 | Omnicom Group, Inc. | 4,368 | ||||||
See accompanying notes to financial statements.
71 |
Table of Contents
Portfolio of Investments – as of January 31, 2020
Natixis Sustainable Future 2045 Fund – (continued)
|
Shares |
Description | Value (†) | ||||||
| Media — continued |
|
|||||||
| 74 | ViacomCBS, Inc., Class B | $ | 2,526 | |||||
|
|
|
|||||||
| 59,381 | ||||||||
|
|
|
|||||||
| Metals & Mining — 0.5% |
|
|||||||
| 140 | Commercial Metals Co. | 2,877 | ||||||
| 172 | Newmont Corp. | 7,750 | ||||||
| 14 | Nucor Corp. | 665 | ||||||
| 63 | Reliance Steel & Aluminum Co. | 7,233 | ||||||
| 41 | Royal Gold, Inc. | 4,728 | ||||||
|
|
|
|||||||
| 23,253 | ||||||||
|
|
|
|||||||
| Multi-Utilities — 0.3% |
|
|||||||
| 77 | Consolidated Edison, Inc. | 7,238 | ||||||
| 31 | DTE Energy Co. | 4,111 | ||||||
| 20 | Sempra Energy | 3,213 | ||||||
| 21 | WEC Energy Group, Inc. | 2,097 | ||||||
|
|
|
|||||||
| 16,659 | ||||||||
|
|
|
|||||||
| Multiline Retail — 0.1% |
|
|||||||
| 11 | Macy’s, Inc. | 175 | ||||||
| 58 | Target Corp. | 6,423 | ||||||
|
|
|
|||||||
| 6,598 | ||||||||
|
|
|
|||||||
| Oil, Gas & Consumable Fuels — 1.2% |
|
|||||||
| 502 | Apache Corp. | 13,775 | ||||||
| 107 | Concho Resources, Inc. | 8,108 | ||||||
| 747 | Denbury Resources, Inc.(a) | 736 | ||||||
| 104 | Devon Energy Corp. | 2,259 | ||||||
| 82 | Diamondback Energy, Inc. | 6,101 | ||||||
| 104 | EOG Resources, Inc. | 7,583 | ||||||
| 128 | EQT Corp. | 774 | ||||||
| 102 | Green Plains, Inc. | 1,272 | ||||||
| 233 | Marathon Oil Corp. | 2,649 | ||||||
| 150 | Noble Energy, Inc. | 2,965 | ||||||
| 80 | ONEOK, Inc. | 5,990 | ||||||
| 742 | Southwestern Energy Co.(a) | 1,165 | ||||||
| 39 | Valero Energy Corp. | 3,288 | ||||||
| 74 | World Fuel Services Corp. | 2,895 | ||||||
|
|
|
|||||||
| 59,560 | ||||||||
|
|
|
|||||||
| Paper & Forest Products — 0.1% |
|
|||||||
| 59 | Domtar Corp. | 2,054 | ||||||
| 103 | Louisiana-Pacific Corp. | 3,160 | ||||||
|
|
|
|||||||
| 5,214 | ||||||||
|
|
|
|||||||
| Personal Products — 0.0% |
|
|||||||
| 11 | Estee Lauder Cos., Inc. (The), Class A | 2,147 | ||||||
|
|
|
|||||||
| Pharmaceuticals — 1.8% |
|
|||||||
| 3 | Allergan PLC | 560 | ||||||
| 65 | Bristol-Myers Squibb Co. | 4,092 | ||||||
| 79 | Catalent, Inc.(a) | 4,827 | ||||||
| 42 | Eli Lilly & Co. | 5,865 | ||||||
| 154 | Merck & Co., Inc. | 13,158 | ||||||
| 123 | Novartis AG, Sponsored ADR | 11,625 | ||||||
| 302 | Novo Nordisk AS, Sponsored ADR | 18,370 | ||||||
| 22 | Perrigo Co. PLC | 1,255 | ||||||
| 230 | Pfizer, Inc. | 8,565 | ||||||
| 471 | Roche Holding AG, Sponsored ADR | 19,688 | ||||||
|
|
|
|||||||
| 88,005 | ||||||||
|
|
|
|||||||
| Professional Services — 0.3% |
|
|||||||
| 62 | Exponent, Inc. | 4,512 | ||||||
| 24 | Insperity, Inc. | 2,097 | ||||||
| 63 | Korn Ferry | 2,582 | ||||||
| 37 | ManpowerGroup, Inc. | 3,385 | ||||||
| 38 | Nielsen Holdings PLC | 775 | ||||||
|
|
|
|||||||
| 13,351 | ||||||||
|
|
|
|||||||
| Real Estate Management & Development — 0.2% |
|
|||||||
| 43 | CBRE Group, Inc., Class A(a) | 2,625 | ||||||
| 32 | Jones Lang LaSalle, Inc. | 5,434 | ||||||
|
|
|
|||||||
| 8,059 | ||||||||
|
|
|
|||||||
| REITs – Apartments — 0.5% |
|
|||||||
| 119 | American Campus Communities, Inc. | 5,459 | ||||||
| 9 | AvalonBay Communities, Inc. | 1,950 | ||||||
| 79 | Camden Property Trust | 8,882 | ||||||
| 44 | Equity Residential | 3,655 | ||||||
| 12 | Essex Property Trust, Inc. | 3,717 | ||||||
| 4 | Mid-America Apartment Communities, Inc. | 549 | ||||||
|
|
|
|||||||
| 24,212 | ||||||||
|
|
|
|||||||
| REITs – Diversified — 0.2% |
|
|||||||
| 17 | Crown Castle International Corp. | 2,547 | ||||||
| 14 | Digital Realty Trust, Inc. | 1,722 | ||||||
| 5 | Equinix, Inc. | 2,949 | ||||||
| 112 | Weyerhaeuser Co. | 3,242 | ||||||
|
|
|
|||||||
| 10,460 | ||||||||
|
|
|
|||||||
| REITs – Health Care — 0.3% |
|
|||||||
| 35 | Ventas, Inc. | 2,025 | ||||||
| 123 | Welltower, Inc. | 10,444 | ||||||
|
|
|
|||||||
| 12,469 | ||||||||
|
|
|
|||||||
| REITs – Hotels — 0.0% |
|
|||||||
| 126 | Host Hotels & Resorts, Inc. | 2,059 | ||||||
|
|
|
|||||||
| REITs – Office Property — 0.6% |
|
|||||||
| 19 | Boston Properties, Inc. | 2,724 | ||||||
| 179 | Corporate Office Properties Trust | 5,329 | ||||||
| 202 | Douglas Emmett, Inc. | 8,383 | ||||||
| 269 | Easterly Government Properties, Inc. | 6,512 | ||||||
| 90 | Kilroy Realty Corp. | 7,431 | ||||||
|
|
|
|||||||
| 30,379 | ||||||||
|
|
|
|||||||
| REITs – Regional Malls — 0.1% |
|
|||||||
| 20 | Simon Property Group, Inc. | 2,663 | ||||||
|
|
|
|||||||
| REITs – Storage — 0.0% |
|
|||||||
| 27 | Iron Mountain, Inc. | 854 | ||||||
| 4 | Public Storage | 895 | ||||||
|
|
|
|||||||
| 1,749 | ||||||||
|
|
|
|||||||
| REITs – Warehouse/Industrials — 0.3% |
|
|||||||
| 54 | CyrusOne, Inc. | 3,286 | ||||||
| 147 | Liberty Property Trust | 9,209 | ||||||
|
|
|
|||||||
| 12,495 | ||||||||
|
|
|
|||||||
| Road & Rail — 0.5% |
|
|||||||
| 19 | Kansas City Southern | 3,205 | ||||||
| 52 | Norfolk Southern Corp. | 10,827 | ||||||
| 51 | Ryder System, Inc. | 2,434 | ||||||
| 57 | Union Pacific Corp. | 10,227 | ||||||
|
|
|
|||||||
| 26,693 | ||||||||
|
|
|
|||||||
| Semiconductors & Semiconductor Equipment — 2.2% |
|
|||||||
| 13 | Advanced Micro Devices, Inc.(a) | 611 | ||||||
| 66 | Applied Materials, Inc. | 3,827 | ||||||
| 37 | Cabot Microelectronics Corp. | 5,384 | ||||||
| 69 | Cirrus Logic, Inc.(a) | 5,300 | ||||||
| 48 | Cree, Inc.(a) | 2,232 | ||||||
| 169 | First Solar, Inc.(a) | 8,379 | ||||||
| 349 | Intel Corp. | 22,312 | ||||||
| 103 | NVIDIA Corp. | 24,352 | ||||||
| 203 | QUALCOMM, Inc. | 17,318 | ||||||
| 50 | Silicon Laboratories, Inc.(a) | 4,915 | ||||||
| 109 | Texas Instruments, Inc. | 13,151 | ||||||
|
|
|
|||||||
| 107,781 | ||||||||
|
|
|
|||||||
See accompanying notes to financial statements.
| 72
Table of Contents
Portfolio of Investments – as of January 31, 2020
Natixis Sustainable Future 2045 Fund – (continued)
See accompanying notes to financial statements.
73 |
Table of Contents
Portfolio of Investments – as of January 31, 2020
Natixis Sustainable Future 2045 Fund – (continued)
See accompanying notes to financial statements.
| 74
Table of Contents
Portfolio of Investments – as of January 31, 2020
Natixis Sustainable Future 2045 Fund – (continued)
| 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 | |||||
| LIBOR | London Interbank Offered Rate | |||||
| MTN | Medium Term Note | |||||
| REITs | Real Estate Investment Trusts | |||||
Asset Allocation Summary at January 31, 2020
|
Equity |
91.0 | % | ||
|
Fixed Income |
8.6 | |||
|
|
|
|||
|
Total Investments |
99.6 | |||
|
Other assets less liabilities |
0.4 | |||
|
|
|
|||
|
Net Assets |
100.0 | % | ||
|
|
|
See accompanying notes to financial statements.
75 |
Table of Contents
Portfolio of Investments – as of January 31, 2020
Natixis Sustainable Future 2050 Fund
|
Shares |
Description | Value (†) | ||||||
| Common Stocks — 60.5% of Net Assets | ||||||||
| Aerospace & Defense — 0.4% |
|
|||||||
| 21 | Axon Enterprise, Inc.(a) | $ | 1,613 | |||||
| 33 | Moog, Inc., Class A | 2,957 | ||||||
| 4 | Raytheon Co. | 884 | ||||||
| 18 | Teledyne Technologies, Inc.(a) | 6,571 | ||||||
| 41 | United Technologies Corp. | 6,158 | ||||||
|
|
|
|||||||
| 18,183 | ||||||||
|
|
|
|||||||
| Air Freight & Logistics — 0.7% |
|
|||||||
| 299 | Expeditors International of Washington, Inc. | 21,839 | ||||||
| 47 | FedEx Corp. | 6,798 | ||||||
| 52 | United Parcel Service, Inc., Class B | 5,383 | ||||||
|
|
|
|||||||
| 34,020 | ||||||||
|
|
|
|||||||
| Airlines — 0.2% |
|
|||||||
| 342 | American Airlines Group, Inc. | 9,179 | ||||||
| 14 | Delta Air Lines, Inc. | 781 | ||||||
|
|
|
|||||||
| 9,960 | ||||||||
|
|
|
|||||||
| Auto Components — 0.4% |
|
|||||||
| 140 | American Axle & Manufacturing Holdings, Inc.(a) | 1,294 | ||||||
| 102 | Aptiv PLC | 8,648 | ||||||
| 17 | BorgWarner, Inc. | 583 | ||||||
| 155 | Delphi Technologies PLC(a) | 2,378 | ||||||
| 140 | Goodyear Tire & Rubber Co. (The) | 1,838 | ||||||
| 29 | Visteon Corp.(a) | 2,314 | ||||||
|
|
|
|||||||
| 17,055 | ||||||||
|
|
|
|||||||
| Automobiles — 0.6% |
|
|||||||
| 992 | Fiat Chrysler Automobiles NV | 12,916 | ||||||
| 393 | General Motors Co. | 13,122 | ||||||
| 33 | Thor Industries, Inc. | 2,657 | ||||||
|
|
|
|||||||
| 28,695 | ||||||||
|
|
|
|||||||
| Banks — 4.0% |
|
|||||||
| 91 | Ameris Bancorp | 3,657 | ||||||
| 163 | BancorpSouth Bank | 4,657 | ||||||
| 841 | Bank of America Corp. | 27,610 | ||||||
| 354 | Cadence BanCorp | 5,533 | ||||||
| 385 | Citigroup, Inc. | 28,648 | ||||||
| 219 | Citizens Financial Group, Inc. | 8,164 | ||||||
| 124 | Columbia Banking System, Inc. | 4,799 | ||||||
| 10 | Comerica, Inc. | 612 | ||||||
| 79 | Cullen/Frost Bankers, Inc. | 7,044 | ||||||
| 285 | Fulton Financial Corp. | 4,694 | ||||||
| 251 | Huntington Bancshares, Inc. | 3,406 | ||||||
| 145 | International Bancshares Corp. | 5,713 | ||||||
| 380 | KeyCorp | 7,110 | ||||||
| 23 | M&T Bank Corp. | 3,876 | ||||||
| 583 | People’s United Financial, Inc. | 8,990 | ||||||
| 76 | PNC Financial Services Group, Inc. (The) | 11,290 | ||||||
| 154 | Regions Financial Corp. | 2,398 | ||||||
| 132 | TCF Financial Corp. | 5,581 | ||||||
| 127 | Truist Financial Corp. | 6,549 | ||||||
| 224 | Trustmark Corp. | 7,163 | ||||||
| 331 | Wells Fargo & Co. | 15,537 | ||||||
| 56 | Wintrust Financial Corp. | 3,544 | ||||||
| 123 | Zions Bancorp N.A. | 5,595 | ||||||
|
|
|
|||||||
| 182,170 | ||||||||
|
|
|
|||||||
| Beverages — 1.7% |
|
|||||||
| 94 | Brown-Forman Corp., Class B | 6,358 | ||||||
| 371 | Coca-Cola Co. (The) | 21,666 | ||||||
| 69 | Constellation Brands, Inc., Class A | 12,993 | ||||||
| 473 | Monster Beverage Corp.(a) | 31,502 | ||||||
| 46 | PepsiCo, Inc. | 6,533 | ||||||
|
|
|
|||||||
| 79,052 | ||||||||
|
|
|
|||||||
| Biotechnology — 1.8% |
|
|||||||
| 64 | AbbVie, Inc. | 5,185 | ||||||
| 76 | Amgen, Inc. | 16,420 | ||||||
| 12 | Biogen, Inc.(a) | 3,226 | ||||||
| 124 | BioMarin Pharmaceutical, Inc.(a) | 10,354 | ||||||
| 105 | Gilead Sciences, Inc. | 6,636 | ||||||
| 20 | Ligand Pharmaceuticals, Inc.(a) | 1,756 | ||||||
| 106 | Regeneron Pharmaceuticals, Inc.(a) | 35,822 | ||||||
| 6 | Vertex Pharmaceuticals, Inc.(a) | 1,362 | ||||||
|
|
|
|||||||
| 80,761 | ||||||||
|
|
|
|||||||
| Building Products — 0.3% |
|
|||||||
| 218 | Johnson Controls International PLC | 8,600 | ||||||
| 23 | Lennox International, Inc. | 5,359 | ||||||
|
|
|
|||||||
| 13,959 | ||||||||
|
|
|
|||||||
| Capital Markets — 4.5% |
|
|||||||
| 3 | Affiliated Managers Group, Inc. | 239 | ||||||
| 11 | Ameriprise Financial, Inc. | 1,819 | ||||||
| 452 | Bank of New York Mellon Corp. (The) | 20,241 | ||||||
| 16 | BlackRock, Inc. | 8,438 | ||||||
| 474 | Charles Schwab Corp. (The) | 21,591 | ||||||
| 23 | CME Group, Inc. | 4,993 | ||||||
| 60 | FactSet Research Systems, Inc. | 17,167 | ||||||
| 102 | Franklin Resources, Inc. | 2,581 | ||||||
| 55 | Goldman Sachs Group, Inc. (The) | 13,076 | ||||||
| 55 | Intercontinental Exchange, Inc. | 5,486 | ||||||
| 34 | Invesco Ltd. | 588 | ||||||
| 109 | Janus Henderson Group PLC | 2,754 | ||||||
| 114 | Legg Mason, Inc. | 4,463 | ||||||
| 83 | Moody’s Corp. | 21,314 | ||||||
| 65 | MSCI, Inc. | 18,577 | ||||||
| 57 | Northern Trust Corp. | 5,575 | ||||||
| 51 | S&P Global, Inc. | 14,980 | ||||||
| 257 | SEI Investments Co. | 16,772 | ||||||
| 339 | State Street Corp. | 25,639 | ||||||
|
|
|
|||||||
| 206,293 | ||||||||
|
|
|
|||||||
| Chemicals — 0.8% |
|
|||||||
| 28 | DuPont de Nemours, Inc. | 1,433 | ||||||
| 57 | Ecolab, Inc. | 11,178 | ||||||
| 59 | HB Fuller Co. | 2,726 | ||||||
| 45 | Innospec, Inc. | 4,533 | ||||||
| 13 | International Flavors & Fragrances, Inc. | 1,705 | ||||||
| 48 | Linde PLC | 9,750 | ||||||
| 50 | Minerals Technologies, Inc. | 2,707 | ||||||
| 28 | Stepan Co. | 2,762 | ||||||
|
|
|
|||||||
| 36,794 | ||||||||
|
|
|
|||||||
| Commercial Services & Supplies — 0.3% |
|
|||||||
| 54 | Healthcare Services Group, Inc. | 1,382 | ||||||
| 33 | MSA Safety, Inc. | 4,475 | ||||||
| 48 | Tetra Tech, Inc. | 4,109 | ||||||
| 47 | Waste Management, Inc. | 5,720 | ||||||
|
|
|
|||||||
| 15,686 | ||||||||
|
|
|
|||||||
| Communications Equipment — 0.8% |
|
|||||||
| 70 | Ciena Corp.(a) | 2,847 | ||||||
| 542 | Cisco Systems, Inc. | 24,916 | ||||||
| 7 | F5 Networks, Inc.(a) | 855 | ||||||
| 38 | InterDigital, Inc. | 2,099 | ||||||
| 40 | Lumentum Holdings, Inc.(a) | 3,031 | ||||||
| 19 | Motorola Solutions, Inc. | 3,363 | ||||||
|
|
|
|||||||
| 37,111 | ||||||||
|
|
|
|||||||
| Construction & Engineering — 0.2% |
|
|||||||
| 146 | AECOM(a) | 7,042 | ||||||
See accompanying notes to financial statements.
| 76
Table of Contents
Portfolio of Investments – as of January 31, 2020
Natixis Sustainable Future 2050 Fund – (continued)
|
Shares |
Description | Value (†) | ||||||
| Construction & Engineering — continued |
|
|||||||
| 168 | Fluor Corp. | $ | 3,005 | |||||
|
|
|
|||||||
| 10,047 | ||||||||
|
|
|
|||||||
| Consumer Finance — 0.7% |
|
|||||||
| 38 | American Express Co. | 4,935 | ||||||
| 246 | Capital One Financial Corp. | 24,551 | ||||||
| 113 | Navient Corp. | 1,625 | ||||||
|
|
|
|||||||
| 31,111 | ||||||||
|
|
|
|||||||
| Containers & Packaging — 0.2% |
|
|||||||
| 84 | Ball Corp. | 6,063 | ||||||
| 44 | International Paper Co. | 1,792 | ||||||
| 227 | O-I Glass, Inc. | 2,865 | ||||||
|
|
|
|||||||
| 10,720 | ||||||||
|
|
|
|||||||
| Distributors — 0.2% |
|
|||||||
| 35 | Genuine Parts Co. | 3,275 | ||||||
| 22 | POOL CORP. | 4,825 | ||||||
|
|
|
|||||||
| 8,100 | ||||||||
|
|
|
|||||||
| Diversified Consumer Services — 0.1% |
|
|||||||
| 97 | Service Corp. International | 4,651 | ||||||
|
|
|
|||||||
| Diversified Telecommunication Services — 0.3% |
|
|||||||
| 179 | AT&T, Inc. | 6,734 | ||||||
| 96 | Verizon Communications, Inc. | 5,706 | ||||||
|
|
|
|||||||
| 12,440 | ||||||||
|
|
|
|||||||
| Electric Utilities — 0.5% |
|
|||||||
| 115 | American Electric Power Co., Inc. | 11,985 | ||||||
| 18 | Edison International | 1,378 | ||||||
| 29 | Eversource Energy | 2,681 | ||||||
| 22 | FirstEnergy Corp. | 1,118 | ||||||
| 43 | IDACORP, Inc. | 4,824 | ||||||
| 38 | PPL Corp. | 1,375 | ||||||
|
|
|
|||||||
| 23,361 | ||||||||
|
|
|
|||||||
| Electrical Equipment — 0.2% |
|
|||||||
| 15 | Acuity Brands, Inc. | 1,768 | ||||||
| 55 | Eaton Corp. PLC | 5,196 | ||||||
| 30 | Hubbell, Inc. | 4,297 | ||||||
|
|
|
|||||||
| 11,261 | ||||||||
|
|
|
|||||||
| Electronic Equipment, Instruments & Components — 0.9% |
|
|||||||
| 76 | Avnet, Inc. | 2,773 | ||||||
| 32 | Belden, Inc. | 1,577 | ||||||
| 83 | Cognex Corp. | 4,231 | ||||||
| 18 | Coherent, Inc.(a) | 2,546 | ||||||
| 37 | Corning, Inc. | 988 | ||||||
| 17 | Littelfuse, Inc. | 3,007 | ||||||
| 14 | Rogers Corp.(a) | 1,648 | ||||||
| 183 | TE Connectivity Ltd. | 16,869 | ||||||
| 99 | Trimble, Inc.(a) | 4,209 | ||||||
| 138 | Vishay Intertechnology, Inc. | 2,800 | ||||||
|
|
|
|||||||
| 40,648 | ||||||||
|
|
|
|||||||
| Energy Equipment & Services — 0.5% |
|
|||||||
| 47 | Apergy Corp.(a) | 1,215 | ||||||
| 56 | Baker Hughes Co. | 1,213 | ||||||
| 23 | Core Laboratories NV | 808 | ||||||
| 83 | National Oilwell Varco, Inc. | 1,711 | ||||||
| 73 | Oceaneering International, Inc.(a) | 906 | ||||||
| 65 | Oil States International, Inc.(a) | 701 | ||||||
| 402 | Schlumberger Ltd. | 13,471 | ||||||
| 56 | TechnipFMC PLC | 924 | ||||||
|
|
|
|||||||
| 20,949 | ||||||||
|
|
|
|||||||
| Entertainment — 1.3% |
|
|||||||
| 32 | Activision Blizzard, Inc. | 1,871 | ||||||
| 66 | Cinemark Holdings, Inc. | 2,080 | ||||||
| 21 | Electronic Arts, Inc.(a) | 2,266 | ||||||
| 81 | Netflix, Inc.(a) | 27,952 | ||||||
| 29 | Take-Two Interactive Software, Inc.(a) | 3,615 | ||||||
| 163 | Walt Disney Co. (The) | 22,545 | ||||||
|
|
|
|||||||
| 60,329 | ||||||||
|
|
|
|||||||
| Food & Staples Retailing — 0.3% |
|
|||||||
| 106 | Kroger Co. (The) | 2,847 | ||||||
| 247 | SpartanNash Co. | 3,009 | ||||||
| 30 | Sysco Corp. | 2,464 | ||||||
| 100 | Walgreens Boots Alliance, Inc. | 5,085 | ||||||
|
|
|
|||||||
| 13,405 | ||||||||
|
|
|
|||||||
| Food Products — 0.7% |
|
|||||||
| 64 | Campbell Soup Co. | 3,097 | ||||||
| 649 | Danone S.A., Sponsored ADR | 10,351 | ||||||
| 49 | General Mills, Inc. | 2,559 | ||||||
| 80 | Hain Celestial Group, Inc. (The)(a) | 1,937 | ||||||
| 4 | Hershey Co. (The) | 621 | ||||||
| 38 | Hormel Foods Corp. | 1,796 | ||||||
| 43 | Ingredion, Inc. | 3,784 | ||||||
| 13 | J.M. Smucker Co. (The) | 1,347 | ||||||
| 61 | Kellogg Co. | 4,161 | ||||||
| 7 | McCormick & Co., Inc. | 1,143 | ||||||
| 21 | Mondelez International, Inc., Class A | 1,205 | ||||||
|
|
|
|||||||
| 32,001 | ||||||||
|
|
|
|||||||
| Gas Utilities — 0.3% |
|
|||||||
| 87 | New Jersey Resources Corp. | 3,595 | ||||||
| 46 | ONE Gas, Inc. | 4,347 | ||||||
| 90 | South Jersey Industries, Inc. | 2,772 | ||||||
| 105 | UGI Corp. | 4,367 | ||||||
|
|
|
|||||||
| 15,081 | ||||||||
|
|
|
|||||||
| Health Care Equipment & Supplies — 0.8% |
|
|||||||
| 4 | Becton Dickinson & Co. | 1,101 | ||||||
| 26 | Boston Scientific Corp.(a) | 1,089 | ||||||
| 5 | Cooper Cos., Inc. (The) | 1,734 | ||||||
| 19 | Danaher Corp. | 3,057 | ||||||
| 15 | DENTSPLY SIRONA, Inc. | 840 | ||||||
| 5 | Edwards Lifesciences Corp.(a) | 1,099 | ||||||
| 41 | Globus Medical, Inc., Class A(a) | 2,144 | ||||||
| 24 | Haemonetics Corp.(a) | 2,577 | ||||||
| 43 | Hill-Rom Holdings, Inc. | 4,579 | ||||||
| 25 | Hologic, Inc.(a) | 1,338 | ||||||
| 3 | Intuitive Surgical, Inc.(a) | 1,679 | ||||||
| 146 | Meridian Bioscience, Inc. | 1,437 | ||||||
| 30 | Merit Medical Systems, Inc.(a) | 1,093 | ||||||
| 6 | STERIS PLC | 904 | ||||||
| 2 | Stryker Corp. | 421 | ||||||
| 48 | Varian Medical Systems, Inc.(a) | 6,747 | ||||||
| 31 | West Pharmaceutical Services, Inc. | 4,834 | ||||||
|
|
|
|||||||
| 36,673 | ||||||||
|
|
|
|||||||
| Health Care Providers & Services — 2.2% |
|
|||||||
| 45 | Acadia Healthcare Co., Inc.(a) | 1,446 | ||||||
| 16 | Amedisys, Inc.(a) | 2,824 | ||||||
| 9 | Anthem, Inc. | 2,388 | ||||||
| 32 | BioTelemetry, Inc.(a) | 1,565 | ||||||
| 81 | Centene Corp.(a) | 5,088 | ||||||
| 11 | Chemed Corp. | 5,138 | ||||||
| 14 | Cigna Corp. | 2,693 | ||||||
| 260 | CVS Health Corp. | 17,633 | ||||||
| 18 | DaVita, Inc.(a) | 1,438 | ||||||
See accompanying notes to financial statements.
77 |
Table of Contents
Portfolio of Investments – as of January 31, 2020
Natixis Sustainable Future 2050 Fund – (continued)
|
Shares |
Description | Value (†) | ||||||
| Health Care Providers & Services — continued |
|
|||||||
| 39 | Encompass Health Corp. | $ | 3,004 | |||||
| 115 | HCA Healthcare, Inc. | 15,962 | ||||||
| 27 | Henry Schein, Inc.(a) | 1,861 | ||||||
| 47 | Humana, Inc. | 15,803 | ||||||
| 21 | Laboratory Corp. of America Holdings(a) | 3,683 | ||||||
| 170 | MEDNAX, Inc.(a) | 3,922 | ||||||
| 73 | Patterson Cos., Inc. | 1,607 | ||||||
| 33 | Quest Diagnostics, Inc. | 3,652 | ||||||
| 36 | UnitedHealth Group, Inc. | 9,808 | ||||||
|
|
|
|||||||
| 99,515 | ||||||||
|
|
|
|||||||
| Health Care Technology — 0.4% |
|
|||||||
| 155 | Allscripts Healthcare Solutions, Inc.(a) | 1,330 | ||||||
| 233 | Cerner Corp. | 16,737 | ||||||
| 73 | HMS Holdings Corp.(a) | 1,994 | ||||||
|
|
|
|||||||
| 20,061 | ||||||||
|
|
|
|||||||
| Hotels, Restaurants & Leisure — 2.1% |
|
|||||||
| 14 | Domino’s Pizza, Inc. | 3,944 | ||||||
| 41 | Dunkin’ Brands Group, Inc. | 3,202 | ||||||
| 115 | Hilton Worldwide Holdings, Inc. | 12,397 | ||||||
| 25 | Jack in the Box, Inc. | 2,044 | ||||||
| 29 | Marriott Vacations Worldwide Corp. | 3,487 | ||||||
| 10 | McDonald’s Corp. | 2,140 | ||||||
| 544 | MGM Resorts International | 16,896 | ||||||
| 9 | Royal Caribbean Cruises Ltd. | 1,054 | ||||||
| 198 | Starbucks Corp. | 16,796 | ||||||
| 164 | Wendy’s Co. (The) | 3,554 | ||||||
| 444 | Yum China Holdings, Inc. | 19,123 | ||||||
| 88 | Yum! Brands, Inc. | 9,308 | ||||||
|
|
|
|||||||
| 93,945 | ||||||||
|
|
|
|||||||
| Household Durables — 0.3% |
|
|||||||
| 131 | KB Home | 4,919 | ||||||
| 98 | Meritage Homes Corp.(a) | 6,954 | ||||||
|
|
|
|||||||
| 11,873 | ||||||||
|
|
|
|||||||
| Household Products — 0.9% |
|
|||||||
| 182 | Colgate-Palmolive Co. | 13,428 | ||||||
| 225 | Procter & Gamble Co. (The) | 28,039 | ||||||
|
|
|
|||||||
| 41,467 | ||||||||
|
|
|
|||||||
| Independent Power & Renewable Electricity Producers — 0.5% |
|
|||||||
| 80 | AES Corp. (The) | 1,589 | ||||||
| 150 | Ormat Technologies, Inc. | 11,889 | ||||||
| 354 | Pattern Energy Group, Inc., Class A | 9,526 | ||||||
|
|
|
|||||||
| 23,004 | ||||||||
|
|
|
|||||||
| Industrial Conglomerates — 0.5% |
|
|||||||
| 1,596 | General Electric Co. | 19,870 | ||||||
| 7 | Honeywell International, Inc. | 1,213 | ||||||
|
|
|
|||||||
| 21,083 | ||||||||
|
|
|
|||||||
| Insurance — 1.3% |
|
|||||||
| 26 | Aflac, Inc. | 1,341 | ||||||
| 44 | Allstate Corp. (The) | 5,216 | ||||||
| 330 | American International Group, Inc. | 16,586 | ||||||
| 21 | Brighthouse Financial, Inc.(a) | 817 | ||||||
| 62 | Chubb Ltd. | 9,423 | ||||||
| 76 | First American Financial Corp. | 4,710 | ||||||
| 29 | Hanover Insurance Group, Inc. (The) | 4,019 | ||||||
| 47 | Hartford Financial Services Group, Inc. (The) | 2,786 | ||||||
| 43 | Lincoln National Corp. | 2,343 | ||||||
| 25 | Marsh & McLennan Cos., Inc. | 2,796 | ||||||
| 81 | Prudential Financial, Inc. | 7,376 | ||||||
| 28 | Travelers Cos., Inc. (The) | 3,685 | ||||||
|
|
|
|||||||
| 61,098 | ||||||||
|
|
|
|||||||
| Interactive Media & Services — 2.9% |
|
|||||||
| 18 | Alphabet, Inc., Class A(a) | 25,790 | ||||||
| 37 | Alphabet, Inc., Class C(a) | 53,066 | ||||||
| 261 | Facebook, Inc., Class A(a) | 52,699 | ||||||
|
|
|
|||||||
| 131,555 | ||||||||
|
|
|
|||||||
| Internet & Direct Marketing Retail — 2.7% |
|
|||||||
| 190 | Alibaba Group Holding Ltd., Sponsored ADR(a) | 39,252 | ||||||
| 23 | Amazon.com, Inc.(a) | 46,201 | ||||||
| 12 | Booking Holdings, Inc.(a) | 21,967 | ||||||
| 425 | eBay, Inc. | 14,263 | ||||||
| 55 | Etsy, Inc.(a) | 2,684 | ||||||
|
|
|
|||||||
| 124,367 | ||||||||
|
|
|
|||||||
| IT Services — 3.2% |
|
|||||||
| 107 | Automatic Data Processing, Inc. | 18,339 | ||||||
| 71 | Cognizant Technology Solutions Corp., Class A | 4,358 | ||||||
| 371 | DXC Technology Co. | 11,828 | ||||||
| 16 | Fiserv, Inc.(a) | 1,898 | ||||||
| 75 | Gartner, Inc.(a) | 12,059 | ||||||
| 26 | International Business Machines Corp. | 3,737 | ||||||
| 60 | MasterCard, Inc., Class A | 18,956 | ||||||
| 25 | Paychex, Inc. | 2,144 | ||||||
| 34 | PayPal Holdings, Inc.(a) | 3,872 | ||||||
| 223 | Sabre Corp. | 4,803 | ||||||
| 9 | VeriSign, Inc.(a) | 1,873 | ||||||
| 297 | Visa, Inc., Class A | 59,094 | ||||||
| 22 | WEX, Inc.(a) | 4,772 | ||||||
|
|
|
|||||||
| 147,733 | ||||||||
|
|
|
|||||||
| Leisure Products — 0.0% |
|
|||||||
| 95 | Callaway Golf Co. | 2,035 | ||||||
|
|
|
|||||||
| Life Sciences Tools & Services — 0.3% |
|
|||||||
| 20 | Agilent Technologies, Inc. | 1,651 | ||||||
| 2 | Illumina, Inc.(a) | 580 | ||||||
| 11 | IQVIA Holdings, Inc.(a) | 1,708 | ||||||
| 38 | Repligen Corp.(a) | 3,815 | ||||||
| 19 | Thermo Fisher Scientific, Inc. | 5,951 | ||||||
| 4 | Waters Corp.(a) | 895 | ||||||
|
|
|
|||||||
| 14,600 | ||||||||
|
|
|
|||||||
| Machinery — 2.2% |
|
|||||||
| 51 | AGCO Corp. | 3,577 | ||||||
| 428 | Briggs & Stratton Corp. | 1,571 | ||||||
| 122 | Caterpillar, Inc. | 16,025 | ||||||
| 78 | Cummins, Inc. | 12,478 | ||||||
| 114 | Deere & Co. | 18,078 | ||||||
| 52 | Flowserve Corp. | 2,427 | ||||||
| 73 | ITT, Inc. | 4,897 | ||||||
| 84 | Kennametal, Inc. | 2,628 | ||||||
| 58 | Oshkosh Corp. | 4,990 | ||||||
| 109 | Parker-Hannifin Corp. | 21,330 | ||||||
| 15 | Proto Labs, Inc.(a) | 1,553 | ||||||
| 68 | Terex Corp. | 1,724 | ||||||
| 64 | Toro Co. (The) | 5,121 | ||||||
| 19 | Xylem, Inc. | 1,552 | ||||||
|
|
|
|||||||
| 97,951 | ||||||||
|
|
|
|||||||
| Media — 1.3% |
|
|||||||
| 4 | Cable One, Inc. | 6,816 | ||||||
| 40 | Charter Communications, Inc., Class A(a) | 20,698 | ||||||
| 377 | Comcast Corp., Class A | 16,283 | ||||||
| 24 | Discovery, Inc., Series C(a) | 666 | ||||||
| 64 | Fox Corp., Class A | 2,373 | ||||||
| 77 | Interpublic Group of Cos., Inc. (The) | 1,748 | ||||||
| 74 | New York Times Co. (The), Class A | 2,369 | ||||||
| 54 | Omnicom Group, Inc. | 4,067 | ||||||
See accompanying notes to financial statements.
| 78
Table of Contents
Portfolio of Investments – as of January 31, 2020
Natixis Sustainable Future 2050 Fund – (continued)
|
Shares |
Description | Value (†) | ||||||
| Media — continued |
|
|||||||
| 69 | ViacomCBS, Inc., Class B | $ | 2,355 | |||||
|
|
|
|||||||
| 57,375 | ||||||||
|
|
|
|||||||
| Metals & Mining — 0.5% |
|
|||||||
| 124 | Commercial Metals Co. | 2,548 | ||||||
| 153 | Newmont Corp. | 6,894 | ||||||
| 13 | Nucor Corp. | 617 | ||||||
| 56 | Reliance Steel & Aluminum Co. | 6,429 | ||||||
| 37 | Royal Gold, Inc. | 4,267 | ||||||
|
|
|
|||||||
| 20,755 | ||||||||
|
|
|
|||||||
| Multi-Utilities — 0.3% |
|
|||||||
| 67 | Consolidated Edison, Inc. | 6,298 | ||||||
| 28 | DTE Energy Co. | 3,713 | ||||||
| 17 | Sempra Energy | 2,731 | ||||||
| 18 | WEC Energy Group, Inc. | 1,798 | ||||||
|
|
|
|||||||
| 14,540 | ||||||||
|
|
|
|||||||
| Multiline Retail — 0.1% |
|
|||||||
| 9 | Macy’s, Inc. | 144 | ||||||
| 52 | Target Corp. | 5,758 | ||||||
|
|
|
|||||||
| 5,902 | ||||||||
|
|
|
|||||||
| Oil, Gas & Consumable Fuels — 1.3% |
|
|||||||
| 514 | Apache Corp. | 14,104 | ||||||
| 111 | Concho Resources, Inc. | 8,412 | ||||||
| 691 | Denbury Resources, Inc.(a) | 681 | ||||||
| 82 | Devon Energy Corp. | 1,781 | ||||||
| 85 | Diamondback Energy, Inc. | 6,324 | ||||||
| 108 | EOG Resources, Inc. | 7,874 | ||||||
| 127 | EQT Corp. | 768 | ||||||
| 92 | Green Plains, Inc. | 1,147 | ||||||
| 206 | Marathon Oil Corp. | 2,342 | ||||||
| 131 | Noble Energy, Inc. | 2,590 | ||||||
| 71 | ONEOK, Inc. | 5,316 | ||||||
| 697 | Southwestern Energy Co.(a) | 1,094 | ||||||
| 34 | Valero Energy Corp. | 2,867 | ||||||
| 66 | World Fuel Services Corp. | 2,582 | ||||||
|
|
|
|||||||
| 57,882 | ||||||||
|
|
|
|||||||
| Paper & Forest Products — 0.1% |
|
|||||||
| 52 | Domtar Corp. | 1,810 | ||||||
| 91 | Louisiana-Pacific Corp. | 2,792 | ||||||
|
|
|
|||||||
| 4,602 | ||||||||
|
|
|
|||||||
| Personal Products — 0.0% |
|
|||||||
| 10 | Estee Lauder Cos., Inc. (The), Class A | 1,952 | ||||||
|
|
|
|||||||
| Pharmaceuticals — 1.9% |
|
|||||||
| 3 | Allergan PLC | 560 | ||||||
| 60 | Bristol-Myers Squibb Co. | 3,777 | ||||||
| 70 | Catalent, Inc.(a) | 4,277 | ||||||
| 39 | Eli Lilly & Co. | 5,446 | ||||||
| 141 | Merck & Co., Inc. | 12,047 | ||||||
| 125 | Novartis AG, Sponsored ADR | 11,814 | ||||||
| 302 | Novo Nordisk AS, Sponsored ADR | 18,370 | ||||||
| 19 | Perrigo Co. PLC | 1,084 | ||||||
| 213 | Pfizer, Inc. | 7,932 | ||||||
| 491 | Roche Holding AG, Sponsored ADR | 20,524 | ||||||
|
|
|
|||||||
| 85,831 | ||||||||
|
|
|
|||||||
| Professional Services — 0.3% |
|
|||||||
| 58 | Exponent, Inc. | 4,221 | ||||||
| 20 | Insperity, Inc. | 1,747 | ||||||
| 56 | Korn Ferry | 2,295 | ||||||
| 33 | ManpowerGroup, Inc. | 3,019 | ||||||
| 31 | Nielsen Holdings PLC | 632 | ||||||
|
|
|
|||||||
| 11,914 | ||||||||
|
|
|
|||||||
| Real Estate Management & Development — 0.2% |
|
|||||||
| 40 | CBRE Group, Inc., Class A(a) | 2,442 | ||||||
| 30 | Jones Lang LaSalle, Inc. | 5,095 | ||||||
|
|
|
|||||||
| 7,537 | ||||||||
|
|
|
|||||||
| REITs – Apartments — 0.5% |
|
|||||||
| 106 | American Campus Communities, Inc. | 4,862 | ||||||
| 9 | AvalonBay Communities, Inc. | 1,950 | ||||||
| 71 | Camden Property Trust | 7,983 | ||||||
| 39 | Equity Residential | 3,240 | ||||||
| 11 | Essex Property Trust, Inc. | 3,407 | ||||||
| 3 | Mid-America Apartment Communities, Inc. | 412 | ||||||
|
|
|
|||||||
| 21,854 | ||||||||
|
|
|
|||||||
| REITs – Diversified — 0.2% |
|
|||||||
| 16 | Crown Castle International Corp. | 2,397 | ||||||
| 13 | Digital Realty Trust, Inc. | 1,599 | ||||||
| 4 | Equinix, Inc. | 2,359 | ||||||
| 106 | Weyerhaeuser Co. | 3,069 | ||||||
|
|
|
|||||||
| 9,424 | ||||||||
|
|
|
|||||||
| REITs – Health Care — 0.3% |
|
|||||||
| 31 | Ventas, Inc. | 1,793 | ||||||
| 113 | Welltower, Inc. | 9,595 | ||||||
|
|
|
|||||||
| 11,388 | ||||||||
|
|
|
|||||||
| REITs – Hotels — 0.0% |
|
|||||||
| 113 | Host Hotels & Resorts, Inc. | 1,846 | ||||||
|
|
|
|||||||
| REITs – Office Property — 0.6% |
|
|||||||
| 17 | Boston Properties, Inc. | 2,437 | ||||||
| 160 | Corporate Office Properties Trust | 4,763 | ||||||
| 181 | Douglas Emmett, Inc. | 7,511 | ||||||
| 241 | Easterly Government Properties, Inc. | 5,835 | ||||||
| 80 | Kilroy Realty Corp. | 6,606 | ||||||
|
|
|
|||||||
| 27,152 | ||||||||
|
|
|
|||||||
| REITs – Regional Malls — 0.1% |
|
|||||||
| 18 | Simon Property Group, Inc. | 2,397 | ||||||
|
|
|
|||||||
| REITs – Storage — 0.0% |
|
|||||||
| 23 | Iron Mountain, Inc. | 727 | ||||||
| 6 | Public Storage | 1,343 | ||||||
|
|
|
|||||||
| 2,070 | ||||||||
|
|
|
|||||||
| REITs – Warehouse/Industrials — 0.2% |
|
|||||||
| 48 | CyrusOne, Inc. | 2,921 | ||||||
| 131 | Liberty Property Trust | 8,207 | ||||||
|
|
|
|||||||
| 11,128 | ||||||||
|
|
|
|||||||
| Road & Rail — 0.5% |
|
|||||||
| 17 | Kansas City Southern | 2,868 | ||||||
| 47 | Norfolk Southern Corp. | 9,786 | ||||||
| 42 | Ryder System, Inc. | 2,004 | ||||||
| 53 | Union Pacific Corp. | 9,509 | ||||||
|
|
|
|||||||
| 24,167 | ||||||||
|
|
|
|||||||
| Semiconductors & Semiconductor Equipment — 2.3% |
|
|||||||
| 13 | Advanced Micro Devices, Inc.(a) | 611 | ||||||
| 61 | Applied Materials, Inc. | 3,537 | ||||||
| 33 | Cabot Microelectronics Corp. | 4,802 | ||||||
| 61 | Cirrus Logic, Inc.(a) | 4,685 | ||||||
| 42 | Cree, Inc.(a) | 1,953 | ||||||
| 154 | First Solar, Inc.(a) | 7,635 | ||||||
| 346 | Intel Corp. | 22,120 | ||||||
| 98 | NVIDIA Corp. | 23,170 | ||||||
| 205 | QUALCOMM, Inc. | 17,488 | ||||||
| 47 | Silicon Laboratories, Inc.(a) | 4,621 | ||||||
| 107 | Texas Instruments, Inc. | 12,910 | ||||||
|
|
|
|||||||
| 103,532 | ||||||||
|
|
|
|||||||
See accompanying notes to financial statements.
79 |
Table of Contents
Portfolio of Investments – as of January 31, 2020
Natixis Sustainable Future 2050 Fund – (continued)
See accompanying notes to financial statements.
| 80
Table of Contents
Portfolio of Investments – as of January 31, 2020
Natixis Sustainable Future 2050 Fund – (continued)
See accompanying notes to financial statements.
81 |
Table of Contents
Portfolio of Investments – as of January 31, 2020
Natixis Sustainable Future 2050 Fund – (continued)
| GMTN | Global Medium Term Note | |||||
| LIBOR | London Interbank Offered Rate | |||||
| MTN | Medium Term Note | |||||
| REITs | Real Estate Investment Trusts | |||||
Asset Allocation Summary at January 31, 2020
|
Equity |
93.5 | % | ||
|
Fixed Income |
5.6 | |||
|
|
|
|||
|
Total Investments |
99.1 | |||
|
Other assets less liabilities |
0.9 | |||
|
|
|
|||
|
Net Assets |
100.0 | % | ||
|
|
|
See accompanying notes to financial statements.
| 82
Table of Contents
Portfolio of Investments – as of January 31, 2020
Natixis Sustainable Future 2055 Fund
|
Shares |
Description | Value (†) | ||||||
| Common Stocks — 60.1% of Net Assets | ||||||||
| Aerospace & Defense — 0.4% |
|
|||||||
| 21 | Axon Enterprise, Inc.(a) | $ | 1,613 | |||||
| 30 | Moog, Inc., Class A | 2,688 | ||||||
| 4 | Raytheon Co. | 884 | ||||||
| 15 | Teledyne Technologies, Inc.(a) | 5,476 | ||||||
| 41 | United Technologies Corp. | 6,158 | ||||||
|
|
|
|||||||
| 16,819 | ||||||||
|
|
|
|||||||
| Air Freight & Logistics — 0.8% |
|
|||||||
| 280 | Expeditors International of Washington, Inc. | 20,451 | ||||||
| 42 | FedEx Corp. | 6,075 | ||||||
| 52 | United Parcel Service, Inc., Class B | 5,383 | ||||||
|
|
|
|||||||
| 31,909 | ||||||||
|
|
|
|||||||
| Airlines — 0.2% |
|
|||||||
| 306 | American Airlines Group, Inc. | 8,213 | ||||||
| 12 | Delta Air Lines, Inc. | 669 | ||||||
|
|
|
|||||||
| 8,882 | ||||||||
|
|
|
|||||||
| Auto Components — 0.4% |
|
|||||||
| 114 | American Axle & Manufacturing Holdings, Inc.(a) | 1,054 | ||||||
| 91 | Aptiv PLC | 7,716 | ||||||
| 15 | BorgWarner, Inc. | 514 | ||||||
| 138 | Delphi Technologies PLC(a) | 2,117 | ||||||
| 133 | Goodyear Tire & Rubber Co. (The) | 1,746 | ||||||
| 27 | Visteon Corp.(a) | 2,155 | ||||||
|
|
|
|||||||
| 15,302 | ||||||||
|
|
|
|||||||
| Automobiles — 0.6% |
|
|||||||
| 887 | Fiat Chrysler Automobiles NV | 11,549 | ||||||
| 351 | General Motors Co. | 11,720 | ||||||
| 28 | Thor Industries, Inc. | 2,254 | ||||||
|
|
|
|||||||
| 25,523 | ||||||||
|
|
|
|||||||
| Banks — 3.9% |
|
|||||||
| 79 | Ameris Bancorp | 3,175 | ||||||
| 141 | BancorpSouth Bank | 4,028 | ||||||
| 752 | Bank of America Corp. | 24,688 | ||||||
| 306 | Cadence BanCorp | 4,783 | ||||||
| 345 | Citigroup, Inc. | 25,671 | ||||||
| 209 | Citizens Financial Group, Inc. | 7,792 | ||||||
| 107 | Columbia Banking System, Inc. | 4,141 | ||||||
| 9 | Comerica, Inc. | 550 | ||||||
| 66 | Cullen/Frost Bankers, Inc. | 5,885 | ||||||
| 246 | Fulton Financial Corp. | 4,052 | ||||||
| 231 | Huntington Bancshares, Inc. | 3,135 | ||||||
| 121 | International Bancshares Corp. | 4,767 | ||||||
| 351 | KeyCorp | 6,567 | ||||||
| 23 | M&T Bank Corp. | 3,876 | ||||||
| 555 | People’s United Financial, Inc. | 8,558 | ||||||
| 74 | PNC Financial Services Group, Inc. (The) | 10,993 | ||||||
| 144 | Regions Financial Corp. | 2,242 | ||||||
| 114 | TCF Financial Corp. | 4,820 | ||||||
| 126 | Truist Financial Corp. | 6,498 | ||||||
| 193 | Trustmark Corp. | 6,172 | ||||||
| 296 | Wells Fargo & Co. | 13,894 | ||||||
| 50 | Wintrust Financial Corp. | 3,164 | ||||||
| 113 | Zions Bancorp N.A. | 5,140 | ||||||
|
|
|
|||||||
| 164,591 | ||||||||
|
|
|
|||||||
| Beverages — 1.8% |
|
|||||||
| 87 | Brown-Forman Corp., Class B | 5,885 | ||||||
| 358 | Coca-Cola Co. (The) | 20,907 | ||||||
| 61 | Constellation Brands, Inc., Class A | 11,486 | ||||||
| 444 | Monster Beverage Corp.(a) | 29,570 | ||||||
| Beverages — continued |
|
|||||||
| 44 | PepsiCo, Inc. | 6,249 | ||||||
|
|
|
|||||||
| 74,097 | ||||||||
|
|
|
|||||||
| Biotechnology — 1.8% |
|
|||||||
| 62 | AbbVie, Inc. | 5,023 | ||||||
| 74 | Amgen, Inc. | 15,988 | ||||||
| 12 | Biogen, Inc.(a) | 3,226 | ||||||
| 114 | BioMarin Pharmaceutical, Inc.(a) | 9,519 | ||||||
| 103 | Gilead Sciences, Inc. | 6,510 | ||||||
| 17 | Ligand Pharmaceuticals, Inc.(a) | 1,493 | ||||||
| 95 | Regeneron Pharmaceuticals, Inc.(a) | 32,104 | ||||||
| 6 | Vertex Pharmaceuticals, Inc.(a) | 1,362 | ||||||
|
|
|
|||||||
| 75,225 | ||||||||
|
|
|
|||||||
| Building Products — 0.3% |
|
|||||||
| 213 | Johnson Controls International PLC | 8,403 | ||||||
| 20 | Lennox International, Inc. | 4,659 | ||||||
|
|
|
|||||||
| 13,062 | ||||||||
|
|
|
|||||||
| Capital Markets — 4.5% |
|
|||||||
| 3 | Affiliated Managers Group, Inc. | 240 | ||||||
| 12 | Ameriprise Financial, Inc. | 1,985 | ||||||
| 417 | Bank of New York Mellon Corp. (The) | 18,673 | ||||||
| 15 | BlackRock, Inc. | 7,910 | ||||||
| 425 | Charles Schwab Corp. (The) | 19,359 | ||||||
| 22 | CME Group, Inc. | 4,777 | ||||||
| 54 | FactSet Research Systems, Inc. | 15,450 | ||||||
| 98 | Franklin Resources, Inc. | 2,479 | ||||||
| 50 | Goldman Sachs Group, Inc. (The) | 11,888 | ||||||
| 53 | Intercontinental Exchange, Inc. | 5,286 | ||||||
| 32 | Invesco Ltd. | 554 | ||||||
| 97 | Janus Henderson Group PLC | 2,451 | ||||||
| 104 | Legg Mason, Inc. | 4,072 | ||||||
| 75 | Moody’s Corp. | 19,259 | ||||||
| 58 | MSCI, Inc. | 16,576 | ||||||
| 56 | Northern Trust Corp. | 5,477 | ||||||
| 47 | S&P Global, Inc. | 13,805 | ||||||
| 240 | SEI Investments Co. | 15,662 | ||||||
| 308 | State Street Corp. | 23,294 | ||||||
|
|
|
|||||||
| 189,197 | ||||||||
|
|
|
|||||||
| Chemicals — 0.8% |
|
|||||||
| 24 | DuPont de Nemours, Inc. | 1,228 | ||||||
| 53 | Ecolab, Inc. | 10,394 | ||||||
| 53 | HB Fuller Co. | 2,449 | ||||||
| 38 | Innospec, Inc. | 3,828 | ||||||
| 12 | International Flavors & Fragrances, Inc. | 1,573 | ||||||
| 46 | Linde PLC | 9,344 | ||||||
| 45 | Minerals Technologies, Inc. | 2,436 | ||||||
| 26 | Stepan Co. | 2,565 | ||||||
|
|
|
|||||||
| 33,817 | ||||||||
|
|
|
|||||||
| Commercial Services & Supplies — 0.3% |
|
|||||||
| 48 | Healthcare Services Group, Inc. | 1,229 | ||||||
| 27 | MSA Safety, Inc. | 3,661 | ||||||
| 40 | Tetra Tech, Inc. | 3,424 | ||||||
| 43 | Waste Management, Inc. | 5,233 | ||||||
|
|
|
|||||||
| 13,547 | ||||||||
|
|
|
|||||||
| Communications Equipment — 0.8% |
|
|||||||
| 64 | Ciena Corp.(a) | 2,603 | ||||||
| 507 | Cisco Systems, Inc. | 23,307 | ||||||
| 6 | F5 Networks, Inc.(a) | 733 | ||||||
| 32 | InterDigital, Inc. | 1,768 | ||||||
| 36 | Lumentum Holdings, Inc.(a) | 2,727 | ||||||
See accompanying notes to financial statements.
83 |
Table of Contents
Portfolio of Investments – as of January 31, 2020
Natixis Sustainable Future 2055 Fund – (continued)
|
Shares |
Description | Value (†) | ||||||
| Communications Equipment — continued |
|
|||||||
| 17 | Motorola Solutions, Inc. | $ | 3,009 | |||||
|
|
|
|||||||
| 34,147 | ||||||||
|
|
|
|||||||
| Construction & Engineering — 0.2% |
|
|||||||
| 126 | AECOM(a) | 6,077 | ||||||
| 149 | Fluor Corp. | 2,666 | ||||||
|
|
|
|||||||
| 8,743 | ||||||||
|
|
|
|||||||
| Consumer Finance — 0.7% |
|
|||||||
| 40 | American Express Co. | 5,195 | ||||||
| 220 | Capital One Financial Corp. | 21,956 | ||||||
| 104 | Navient Corp. | 1,495 | ||||||
|
|
|
|||||||
| 28,646 | ||||||||
|
|
|
|||||||
| Containers & Packaging — 0.2% |
|
|||||||
| 82 | Ball Corp. | 5,919 | ||||||
| 46 | International Paper Co. | 1,873 | ||||||
| 189 | O-I Glass, Inc. | 2,385 | ||||||
|
|
|
|||||||
| 10,177 | ||||||||
|
|
|
|||||||
| Distributors — 0.2% |
|
|||||||
| 36 | Genuine Parts Co. | 3,368 | ||||||
| 19 | POOL CORP. | 4,167 | ||||||
|
|
|
|||||||
| 7,535 | ||||||||
|
|
|
|||||||
| Diversified Consumer Services — 0.1% |
|
|||||||
| 83 | Service Corp. International | 3,980 | ||||||
|
|
|
|||||||
| Diversified Telecommunication Services — 0.3% |
|
|||||||
| 164 | AT&T, Inc. | 6,169 | ||||||
| 88 | Verizon Communications, Inc. | 5,231 | ||||||
|
|
|
|||||||
| 11,400 | ||||||||
|
|
|
|||||||
| Electric Utilities — 0.5% |
|
|||||||
| 112 | American Electric Power Co., Inc. | 11,672 | ||||||
| 14 | Edison International | 1,072 | ||||||
| 29 | Eversource Energy | 2,681 | ||||||
| 18 | FirstEnergy Corp. | 914 | ||||||
| 36 | IDACORP, Inc. | 4,039 | ||||||
| 33 | PPL Corp. | 1,194 | ||||||
|
|
|
|||||||
| 21,572 | ||||||||
|
|
|
|||||||
| Electrical Equipment — 0.2% |
|
|||||||
| 13 | Acuity Brands, Inc. | 1,532 | ||||||
| 55 | Eaton Corp. PLC | 5,196 | ||||||
| 25 | Hubbell, Inc. | 3,581 | ||||||
|
|
|
|||||||
| 10,309 | ||||||||
|
|
|
|||||||
| Electronic Equipment, Instruments & Components — 0.9% |
|
|||||||
| 68 | Avnet, Inc. | 2,481 | ||||||
| 27 | Belden, Inc. | 1,330 | ||||||
| 72 | Cognex Corp. | 3,670 | ||||||
| 16 | Coherent, Inc.(a) | 2,263 | ||||||
| 30 | Corning, Inc. | 801 | ||||||
| 14 | Littelfuse, Inc. | 2,477 | ||||||
| 12 | Rogers Corp.(a) | 1,413 | ||||||
| 163 | TE Connectivity Ltd. | 15,025 | ||||||
| 85 | Trimble, Inc.(a) | 3,614 | ||||||
| 122 | Vishay Intertechnology, Inc. | 2,476 | ||||||
|
|
|
|||||||
| 35,550 | ||||||||
|
|
|
|||||||
| Energy Equipment & Services — 0.5% |
|
|||||||
| 39 | Apergy Corp.(a) | 1,008 | ||||||
| 45 | Baker Hughes Co. | 975 | ||||||
| 20 | Core Laboratories NV | 703 | ||||||
| 80 | National Oilwell Varco, Inc. | 1,649 | ||||||
| 61 | Oceaneering International, Inc.(a) | 757 | ||||||
| 54 | Oil States International, Inc.(a) | 582 | ||||||
| Energy Equipment & Services — continued |
|
|||||||
| 380 | Schlumberger Ltd. | 12,734 | ||||||
| 46 | TechnipFMC PLC | 759 | ||||||
|
|
|
|||||||
| 19,167 | ||||||||
|
|
|
|||||||
| Entertainment — 1.3% |
|
|||||||
| 34 | Activision Blizzard, Inc. | 1,988 | ||||||
| 61 | Cinemark Holdings, Inc. | 1,922 | ||||||
| 19 | Electronic Arts, Inc.(a) | 2,050 | ||||||
| 73 | Netflix, Inc.(a) | 25,192 | ||||||
| 26 | Take-Two Interactive Software, Inc.(a) | 3,241 | ||||||
| 155 | Walt Disney Co. (The) | 21,438 | ||||||
|
|
|
|||||||
| 55,831 | ||||||||
|
|
|
|||||||
| Food & Staples Retailing — 0.3% |
|
|||||||
| 90 | Kroger Co. (The) | 2,417 | ||||||
| 219 | SpartanNash Co. | 2,667 | ||||||
| 28 | Sysco Corp. | 2,300 | ||||||
| 96 | Walgreens Boots Alliance, Inc. | 4,882 | ||||||
|
|
|
|||||||
| 12,266 | ||||||||
|
|
|
|||||||
| Food Products — 0.7% |
|
|||||||
| 65 | Campbell Soup Co. | 3,145 | ||||||
| 602 | Danone S.A., Sponsored ADR | 9,602 | ||||||
| 48 | General Mills, Inc. | 2,507 | ||||||
| 73 | Hain Celestial Group, Inc. (The)(a) | 1,767 | ||||||
| 4 | Hershey Co. (The) | 621 | ||||||
| 39 | Hormel Foods Corp. | 1,843 | ||||||
| 36 | Ingredion, Inc. | 3,168 | ||||||
| 15 | J.M. Smucker Co. (The) | 1,554 | ||||||
| 58 | Kellogg Co. | 3,956 | ||||||
| 6 | McCormick & Co., Inc. | 980 | ||||||
| 20 | Mondelez International, Inc., Class A | 1,148 | ||||||
|
|
|
|||||||
| 30,291 | ||||||||
|
|
|
|||||||
| Gas Utilities — 0.3% |
|
|||||||
| 75 | New Jersey Resources Corp. | 3,099 | ||||||
| 41 | ONE Gas, Inc. | 3,875 | ||||||
| 80 | South Jersey Industries, Inc. | 2,464 | ||||||
| 90 | UGI Corp. | 3,743 | ||||||
|
|
|
|||||||
| 13,181 | ||||||||
|
|
|
|||||||
| Health Care Equipment & Supplies — 0.8% |
|
|||||||
| 4 | Becton Dickinson & Co. | 1,101 | ||||||
| 24 | Boston Scientific Corp.(a) | 1,005 | ||||||
| 5 | Cooper Cos., Inc. (The) | 1,734 | ||||||
| 17 | Danaher Corp. | 2,735 | ||||||
| 13 | DENTSPLY SIRONA, Inc. | 728 | ||||||
| 2 | Edwards Lifesciences Corp.(a) | 440 | ||||||
| 39 | Globus Medical, Inc., Class A(a) | 2,039 | ||||||
| 20 | Haemonetics Corp.(a) | 2,148 | ||||||
| 36 | Hill-Rom Holdings, Inc. | 3,834 | ||||||
| 21 | Hologic, Inc.(a) | 1,124 | ||||||
| 3 | Intuitive Surgical, Inc.(a) | 1,679 | ||||||
| 134 | Meridian Bioscience, Inc. | 1,318 | ||||||
| 25 | Merit Medical Systems, Inc.(a) | 910 | ||||||
| 5 | STERIS PLC | 753 | ||||||
| 3 | Stryker Corp. | 632 | ||||||
| 40 | Varian Medical Systems, Inc.(a) | 5,623 | ||||||
| 26 | West Pharmaceutical Services, Inc. | 4,055 | ||||||
|
|
|
|||||||
| 31,858 | ||||||||
|
|
|
|||||||
| Health Care Providers & Services — 2.2% |
|
|||||||
| 37 | Acadia Healthcare Co., Inc.(a) | 1,189 | ||||||
| 12 | Amedisys, Inc.(a) | 2,118 | ||||||
| 8 | Anthem, Inc. | 2,122 | ||||||
| 26 | BioTelemetry, Inc.(a) | 1,272 | ||||||
See accompanying notes to financial statements.
| 84
Table of Contents
Portfolio of Investments – as of January 31, 2020
Natixis Sustainable Future 2055 Fund – (continued)
|
Shares |
Description | Value (†) | ||||||
| Health Care Providers & Services — continued |
|
|||||||
| 81 | Centene Corp.(a) | $ | 5,088 | |||||
| 9 | Chemed Corp. | 4,203 | ||||||
| 13 | Cigna Corp. | 2,501 | ||||||
| 234 | CVS Health Corp. | 15,870 | ||||||
| 15 | DaVita, Inc.(a) | 1,198 | ||||||
| 36 | Encompass Health Corp. | 2,773 | ||||||
| 106 | HCA Healthcare, Inc. | 14,713 | ||||||
| 29 | Henry Schein, Inc.(a) | 1,999 | ||||||
| 43 | Humana, Inc. | 14,458 | ||||||
| 21 | Laboratory Corp. of America Holdings(a) | 3,683 | ||||||
| 146 | MEDNAX, Inc.(a) | 3,368 | ||||||
| 59 | Patterson Cos., Inc. | 1,299 | ||||||
| 32 | Quest Diagnostics, Inc. | 3,542 | ||||||
| 33 | UnitedHealth Group, Inc. | 8,991 | ||||||
|
|
|
|||||||
| 90,387 | ||||||||
|
|
|
|||||||
| Health Care Technology — 0.4% |
|
|||||||
| 142 | Allscripts Healthcare Solutions, Inc.(a) | 1,218 | ||||||
| 215 | Cerner Corp. | 15,444 | ||||||
| 69 | HMS Holdings Corp.(a) | 1,885 | ||||||
|
|
|
|||||||
| 18,547 | ||||||||
|
|
|
|||||||
| Hotels, Restaurants & Leisure — 2.0% |
|
|||||||
| 12 | Domino’s Pizza, Inc. | 3,381 | ||||||
| 37 | Dunkin’ Brands Group, Inc. | 2,889 | ||||||
| 103 | Hilton Worldwide Holdings, Inc. | 11,103 | ||||||
| 23 | Jack in the Box, Inc. | 1,880 | ||||||
| 24 | Marriott Vacations Worldwide Corp. | 2,886 | ||||||
| 9 | McDonald’s Corp. | 1,926 | ||||||
| 489 | MGM Resorts International | 15,188 | ||||||
| 9 | Royal Caribbean Cruises Ltd. | 1,054 | ||||||
| 174 | Starbucks Corp. | 14,760 | ||||||
| 141 | Wendy’s Co. (The) | 3,056 | ||||||
| 420 | Yum China Holdings, Inc. | 18,089 | ||||||
| 80 | Yum! Brands, Inc. | 8,462 | ||||||
|
|
|
|||||||
| 84,674 | ||||||||
|
|
|
|||||||
| Household Durables — 0.2% |
|
|||||||
| 109 | KB Home | 4,093 | ||||||
| 85 | Meritage Homes Corp.(a) | 6,032 | ||||||
|
|
|
|||||||
| 10,125 | ||||||||
|
|
|
|||||||
| Household Products — 0.9% |
|
|||||||
| 174 | Colgate-Palmolive Co. | 12,838 | ||||||
| 209 | Procter & Gamble Co. (The) | 26,045 | ||||||
|
|
|
|||||||
| 38,883 | ||||||||
|
|
|
|||||||
| Independent Power & Renewable Electricity Producers — 0.5% |
|
|||||||
| 65 | AES Corp. (The) | 1,291 | ||||||
| 138 | Ormat Technologies, Inc. | 10,938 | ||||||
| 326 | Pattern Energy Group, Inc., Class A | 8,772 | ||||||
|
|
|
|||||||
| 21,001 | ||||||||
|
|
|
|||||||
| Industrial Conglomerates — 0.5% |
|
|||||||
| 1,443 | General Electric Co. | 17,965 | ||||||
| 7 | Honeywell International, Inc. | 1,213 | ||||||
|
|
|
|||||||
| 19,178 | ||||||||
|
|
|
|||||||
| Insurance — 1.4% |
|
|||||||
| 24 | Aflac, Inc. | 1,238 | ||||||
| 45 | Allstate Corp. (The) | 5,334 | ||||||
| 295 | American International Group, Inc. | 14,827 | ||||||
| 20 | Brighthouse Financial, Inc.(a) | 778 | ||||||
| 60 | Chubb Ltd. | 9,119 | ||||||
| 65 | First American Financial Corp. | 4,029 | ||||||
| 24 | Hanover Insurance Group, Inc. (The) | 3,326 | ||||||
| Insurance — continued |
|
|||||||
| 43 | Hartford Financial Services Group, Inc. (The) | 2,549 | ||||||
| 38 | Lincoln National Corp. | 2,070 | ||||||
| 26 | Marsh & McLennan Cos., Inc. | 2,908 | ||||||
| 79 | Prudential Financial, Inc. | 7,194 | ||||||
| 30 | Travelers Cos., Inc. (The) | 3,949 | ||||||
|
|
|
|||||||
| 57,321 | ||||||||
|
|
|
|||||||
| Interactive Media & Services — 2.8% |
|
|||||||
| 16 | Alphabet, Inc., Class A(a) | 22,924 | ||||||
| 33 | Alphabet, Inc., Class C(a) | 47,330 | ||||||
| 237 | Facebook, Inc., Class A(a) | 47,853 | ||||||
|
|
|
|||||||
| 118,107 | ||||||||
|
|
|
|||||||
| Internet & Direct Marketing Retail — 2.7% |
|
|||||||
| 177 | Alibaba Group Holding Ltd., Sponsored ADR(a) | 36,567 | ||||||
| 21 | Amazon.com, Inc.(a) | 42,183 | ||||||
| 11 | Booking Holdings, Inc.(a) | 20,136 | ||||||
| 382 | eBay, Inc. | 12,820 | ||||||
| 47 | Etsy, Inc.(a) | 2,294 | ||||||
|
|
|
|||||||
| 114,000 | ||||||||
|
|
|
|||||||
| IT Services — 3.2% |
|
|||||||
| 102 | Automatic Data Processing, Inc. | 17,482 | ||||||
| 68 | Cognizant Technology Solutions Corp., Class A | 4,174 | ||||||
| 332 | DXC Technology Co. | 10,584 | ||||||
| 14 | Fiserv, Inc.(a) | 1,661 | ||||||
| 67 | Gartner, Inc.(a) | 10,772 | ||||||
| 24 | International Business Machines Corp. | 3,450 | ||||||
| 55 | MasterCard, Inc., Class A | 17,377 | ||||||
| 24 | Paychex, Inc. | 2,058 | ||||||
| 32 | PayPal Holdings, Inc.(a) | 3,644 | ||||||
| 192 | Sabre Corp. | 4,136 | ||||||
| 10 | VeriSign, Inc.(a) | 2,081 | ||||||
| 270 | Visa, Inc., Class A | 53,722 | ||||||
| 19 | WEX, Inc.(a) | 4,121 | ||||||
|
|
|
|||||||
| 135,262 | ||||||||
|
|
|
|||||||
| Leisure Products — 0.0% |
|
|||||||
| 87 | Callaway Golf Co. | 1,864 | ||||||
|
|
|
|||||||
| Life Sciences Tools & Services — 0.3% |
|
|||||||
| 21 | Agilent Technologies, Inc. | 1,734 | ||||||
| 2 | Illumina, Inc.(a) | 580 | ||||||
| 11 | IQVIA Holdings, Inc.(a) | 1,708 | ||||||
| 35 | Repligen Corp.(a) | 3,514 | ||||||
| 17 | Thermo Fisher Scientific, Inc. | 5,324 | ||||||
| 4 | Waters Corp.(a) | 895 | ||||||
|
|
|
|||||||
| 13,755 | ||||||||
|
|
|
|||||||
| Machinery — 2.1% |
|
|||||||
| 46 | AGCO Corp. | 3,226 | ||||||
| 394 | Briggs & Stratton Corp. | 1,446 | ||||||
| 113 | Caterpillar, Inc. | 14,843 | ||||||
| 69 | Cummins, Inc. | 11,038 | ||||||
| 105 | Deere & Co. | 16,651 | ||||||
| 53 | Flowserve Corp. | 2,474 | ||||||
| 63 | ITT, Inc. | 4,226 | ||||||
| 75 | Kennametal, Inc. | 2,347 | ||||||
| 50 | Oshkosh Corp. | 4,302 | ||||||
| 98 | Parker-Hannifin Corp. | 19,178 | ||||||
| 13 | Proto Labs, Inc.(a) | 1,345 | ||||||
| 55 | Terex Corp. | 1,394 | ||||||
| 55 | Toro Co. (The) | 4,401 | ||||||
| 17 | Xylem, Inc. | 1,388 | ||||||
|
|
|
|||||||
| 88,259 | ||||||||
|
|
|
|||||||
See accompanying notes to financial statements.
85 |
Table of Contents
Portfolio of Investments – as of January 31, 2020
Natixis Sustainable Future 2055 Fund – (continued)
|
Shares |
Description | Value (†) | ||||||
| Media — 1.3% |
|
|||||||
| 4 | Cable One, Inc. | $ | 6,816 | |||||
| 36 | Charter Communications, Inc., Class A(a) | 18,629 | ||||||
| 337 | Comcast Corp., Class A | 14,555 | ||||||
| 21 | Discovery, Inc., Series C(a) | 583 | ||||||
| 59 | Fox Corp., Class A | 2,188 | ||||||
| 69 | Interpublic Group of Cos., Inc. (The) | 1,566 | ||||||
| 66 | New York Times Co. (The), Class A | 2,113 | ||||||
| 51 | Omnicom Group, Inc. | 3,841 | ||||||
| 63 | ViacomCBS, Inc., Class B | 2,150 | ||||||
|
|
|
|||||||
| 52,441 | ||||||||
|
|
|
|||||||
| Metals & Mining — 0.4% |
|
|||||||
| 110 | Commercial Metals Co. | 2,260 | ||||||
| 149 | Newmont Corp. | 6,714 | ||||||
| 10 | Nucor Corp. | 475 | ||||||
| 48 | Reliance Steel & Aluminum Co. | 5,510 | ||||||
| 30 | Royal Gold, Inc. | 3,460 | ||||||
|
|
|
|||||||
| 18,419 | ||||||||
|
|
|
|||||||
| Multi-Utilities — 0.4% |
|
|||||||
| 67 | Consolidated Edison, Inc. | 6,298 | ||||||
| 27 | DTE Energy Co. | 3,580 | ||||||
| 18 | Sempra Energy | 2,892 | ||||||
| 18 | WEC Energy Group, Inc. | 1,798 | ||||||
|
|
|
|||||||
| 14,568 | ||||||||
|
|
|
|||||||
| Multiline Retail — 0.1% |
|
|||||||
| 8 | Macy’s, Inc. | 128 | ||||||
| 48 | Target Corp. | 5,315 | ||||||
|
|
|
|||||||
| 5,443 | ||||||||
|
|
|
|||||||
| Oil, Gas & Consumable Fuels — 1.3% |
|
|||||||
| 460 | Apache Corp. | 12,622 | ||||||
| 99 | Concho Resources, Inc. | 7,502 | ||||||
| 589 | Denbury Resources, Inc.(a) | 580 | ||||||
| 83 | Devon Energy Corp. | 1,803 | ||||||
| 76 | Diamondback Energy, Inc. | 5,654 | ||||||
| 97 | EOG Resources, Inc. | 7,072 | ||||||
| 98 | EQT Corp. | 593 | ||||||
| 83 | Green Plains, Inc. | 1,035 | ||||||
| 202 | Marathon Oil Corp. | 2,297 | ||||||
| 130 | Noble Energy, Inc. | 2,570 | ||||||
| 70 | ONEOK, Inc. | 5,241 | ||||||
| 585 | Southwestern Energy Co.(a) | 919 | ||||||
| 35 | Valero Energy Corp. | 2,951 | ||||||
| 58 | World Fuel Services Corp. | 2,269 | ||||||
|
|
|
|||||||
| 53,108 | ||||||||
|
|
|
|||||||
| Paper & Forest Products — 0.1% |
|
|||||||
| 46 | Domtar Corp. | 1,602 | ||||||
| 81 | Louisiana-Pacific Corp. | 2,485 | ||||||
|
|
|
|||||||
| 4,087 | ||||||||
|
|
|
|||||||
| Personal Products — 0.0% |
|
|||||||
| 9 | Estee Lauder Cos., Inc. (The), Class A | 1,756 | ||||||
|
|
|
|||||||
| Pharmaceuticals — 1.9% |
|
|||||||
| 3 | Allergan PLC | 560 | ||||||
| 55 | Bristol-Myers Squibb Co. | 3,462 | ||||||
| 59 | Catalent, Inc.(a) | 3,605 | ||||||
| 36 | Eli Lilly & Co. | 5,027 | ||||||
| 134 | Merck & Co., Inc. | 11,449 | ||||||
| 109 | Novartis AG, Sponsored ADR | 10,302 | ||||||
| 285 | Novo Nordisk AS, Sponsored ADR | 17,336 | ||||||
| 17 | Perrigo Co. PLC | 970 | ||||||
| 196 | Pfizer, Inc. | 7,299 | ||||||
| Pharmaceuticals — continued |
|
|||||||
| 427 | Roche Holding AG, Sponsored ADR | 17,849 | ||||||
|
|
|
|||||||
| 77,859 | ||||||||
|
|
|
|||||||
| Professional Services — 0.3% |
|
|||||||
| 49 | Exponent, Inc. | 3,566 | ||||||
| 17 | Insperity, Inc. | 1,485 | ||||||
| 51 | Korn Ferry | 2,090 | ||||||
| 30 | ManpowerGroup, Inc. | 2,745 | ||||||
| 27 | Nielsen Holdings PLC | 551 | ||||||
|
|
|
|||||||
| 10,437 | ||||||||
|
|
|
|||||||
| Real Estate Management & Development — 0.2% |
|
|||||||
| 37 | CBRE Group, Inc., Class A(a) | 2,259 | ||||||
| 25 | Jones Lang LaSalle, Inc. | 4,245 | ||||||
|
|
|
|||||||
| 6,504 | ||||||||
|
|
|
|||||||
| REITs – Apartments — 0.5% |
|
|||||||
| 92 | American Campus Communities, Inc. | 4,220 | ||||||
| 8 | AvalonBay Communities, Inc. | 1,734 | ||||||
| 61 | Camden Property Trust | 6,858 | ||||||
| 34 | Equity Residential | 2,825 | ||||||
| 11 | Essex Property Trust, Inc. | 3,407 | ||||||
| 3 | Mid-America Apartment Communities, Inc. | 412 | ||||||
|
|
|
|||||||
| 19,456 | ||||||||
|
|
|
|||||||
| REITs – Diversified — 0.2% |
|
|||||||
| 14 | Crown Castle International Corp. | 2,098 | ||||||
| 12 | Digital Realty Trust, Inc. | 1,476 | ||||||
| 4 | Equinix, Inc. | 2,359 | ||||||
| 99 | Weyerhaeuser Co. | 2,866 | ||||||
|
|
|
|||||||
| 8,799 | ||||||||
|
|
|
|||||||
| REITs – Health Care — 0.3% |
|
|||||||
| 28 | Ventas, Inc. | 1,620 | ||||||
| 105 | Welltower, Inc. | 8,916 | ||||||
|
|
|
|||||||
| 10,536 | ||||||||
|
|
|
|||||||
| REITs – Hotels — 0.0% |
|
|||||||
| 110 | Host Hotels & Resorts, Inc. | 1,797 | ||||||
|
|
|
|||||||
| REITs – Office Property — 0.6% |
|
|||||||
| 15 | Boston Properties, Inc. | 2,150 | ||||||
| 138 | Corporate Office Properties Trust | 4,108 | ||||||
| 156 | Douglas Emmett, Inc. | 6,474 | ||||||
| 208 | Easterly Government Properties, Inc. | 5,036 | ||||||
| 69 | Kilroy Realty Corp. | 5,698 | ||||||
|
|
|
|||||||
| 23,466 | ||||||||
|
|
|
|||||||
| REITs – Regional Malls — 0.1% |
|
|||||||
| 18 | Simon Property Group, Inc. | 2,397 | ||||||
|
|
|
|||||||
| REITs – Storage — 0.0% |
|
|||||||
| 20 | Iron Mountain, Inc. | 632 | ||||||
| 5 | Public Storage | 1,119 | ||||||
|
|
|
|||||||
| 1,751 | ||||||||
|
|
|
|||||||
| REITs – Warehouse/Industrials — 0.2% |
|
|||||||
| 43 | CyrusOne, Inc. | 2,617 | ||||||
| 113 | Liberty Property Trust | 7,079 | ||||||
|
|
|
|||||||
| 9,696 | ||||||||
|
|
|
|||||||
| Road & Rail — 0.5% |
|
|||||||
| 16 | Kansas City Southern | 2,699 | ||||||
| 44 | Norfolk Southern Corp. | 9,161 | ||||||
| 40 | Ryder System, Inc. | 1,909 | ||||||
| 49 | Union Pacific Corp. | 8,792 | ||||||
|
|
|
|||||||
| 22,561 | ||||||||
|
|
|
|||||||
See accompanying notes to financial statements.
| 86
Table of Contents
Portfolio of Investments – as of January 31, 2020
Natixis Sustainable Future 2055 Fund – (continued)
See accompanying notes to financial statements.
87 |
Table of Contents
Portfolio of Investments – as of January 31, 2020
Natixis Sustainable Future 2055 Fund – (continued)
See accompanying notes to financial statements.
| 88
Table of Contents
Portfolio of Investments – as of January 31, 2020
Natixis Sustainable Future 2055 Fund – (continued)
| 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 | |||||
| LIBOR | London Interbank Offered Rate | |||||
| MTN | Medium Term Note | |||||
| REITs | Real Estate Investment Trusts | |||||
Asset Allocation Summary at January 31, 2020
|
Equity |
93.9 | % | ||
|
Fixed Income |
5.6 | |||
|
|
|
|||
|
Total Investments |
99.5 | |||
|
Other assets less liabilities |
0.5 | |||
|
|
|
|||
|
Net Assets |
100.0 | % | ||
|
|
|
See accompanying notes to financial statements.
89 |
Table of Contents
Portfolio of Investments – as of January 31, 2020
Natixis Sustainable Future 2060 Fund
|
Shares |
Description | Value (†) | ||||||
| Common Stocks — 61.9% of Net Assets | ||||||||
| Aerospace & Defense — 0.4% |
|
|||||||
| 16 | Axon Enterprise, Inc.(a) | $ | 1,229 | |||||
| 23 | Moog, Inc., Class A | 2,061 | ||||||
| 3 | Raytheon Co. | 663 | ||||||
| 13 | Teledyne Technologies, Inc.(a) | 4,745 | ||||||
| 34 | United Technologies Corp. | 5,107 | ||||||
|
|
|
|||||||
| 13,805 | ||||||||
|
|
|
|||||||
| Air Freight & Logistics — 0.8% |
|
|||||||
| 217 | Expeditors International of Washington, Inc. | 15,850 | ||||||
| 32 | FedEx Corp. | 4,628 | ||||||
| 42 | United Parcel Service, Inc., Class B | 4,348 | ||||||
|
|
|
|||||||
| 24,826 | ||||||||
|
|
|
|||||||
| Airlines — 0.2% |
|
|||||||
| 237 | American Airlines Group, Inc. | 6,361 | ||||||
| 13 | Delta Air Lines, Inc. | 725 | ||||||
|
|
|
|||||||
| 7,086 | ||||||||
|
|
|
|||||||
| Auto Components — 0.4% |
|
|||||||
| 100 | American Axle & Manufacturing Holdings, Inc.(a) | 924 | ||||||
| 72 | Aptiv PLC | 6,105 | ||||||
| 15 | BorgWarner, Inc. | 514 | ||||||
| 107 | Delphi Technologies PLC(a) | 1,641 | ||||||
| 103 | Goodyear Tire & Rubber Co. (The) | 1,353 | ||||||
| 21 | Visteon Corp.(a) | 1,676 | ||||||
|
|
|
|||||||
| 12,213 | ||||||||
|
|
|
|||||||
| Automobiles — 0.6% |
|
|||||||
| 685 | Fiat Chrysler Automobiles NV | 8,919 | ||||||
| 271 | General Motors Co. | 9,049 | ||||||
| 22 | Thor Industries, Inc. | 1,771 | ||||||
|
|
|
|||||||
| 19,739 | ||||||||
|
|
|
|||||||
| Banks — 4.1% |
|
|||||||
| 64 | Ameris Bancorp | 2,572 | ||||||
| 114 | BancorpSouth Bank | 3,257 | ||||||
| 581 | Bank of America Corp. | 19,074 | ||||||
| 247 | Cadence BanCorp | 3,861 | ||||||
| 265 | Citigroup, Inc. | 19,719 | ||||||
| 164 | Citizens Financial Group, Inc. | 6,114 | ||||||
| 87 | Columbia Banking System, Inc. | 3,367 | ||||||
| 9 | Comerica, Inc. | 550 | ||||||
| 55 | Cullen/Frost Bankers, Inc. | 4,904 | ||||||
| 199 | Fulton Financial Corp. | 3,278 | ||||||
| 171 | Huntington Bancshares, Inc. | 2,320 | ||||||
| 101 | International Bancshares Corp. | 3,979 | ||||||
| 276 | KeyCorp | 5,164 | ||||||
| 19 | M&T Bank Corp. | 3,202 | ||||||
| 437 | People’s United Financial, Inc. | 6,739 | ||||||
| 64 | PNC Financial Services Group, Inc. (The) | 9,507 | ||||||
| 127 | Regions Financial Corp. | 1,977 | ||||||
| 92 | TCF Financial Corp. | 3,890 | ||||||
| 105 | Truist Financial Corp. | 5,415 | ||||||
| 156 | Trustmark Corp. | 4,989 | ||||||
| 229 | Wells Fargo & Co. | 10,749 | ||||||
| 42 | Wintrust Financial Corp. | 2,658 | ||||||
| 84 | Zions Bancorp N.A. | 3,821 | ||||||
|
|
|
|||||||
| 131,106 | ||||||||
|
|
|
|||||||
| Beverages — 1.8% |
|
|||||||
| 64 | Brown-Forman Corp., Class B | 4,329 | ||||||
| 292 | Coca-Cola Co. (The) | 17,053 | ||||||
| 47 | Constellation Brands, Inc., Class A | 8,850 | ||||||
| 349 | Monster Beverage Corp.(a) | 23,243 | ||||||
| Beverages — continued |
|
|||||||
| 38 | PepsiCo, Inc. | $ | 5,397 | |||||
|
|
|
|||||||
| 58,872 | ||||||||
|
|
|
|||||||
| Biotechnology — 1.9% |
|
|||||||
| 50 | AbbVie, Inc. | 4,051 | ||||||
| 60 | Amgen, Inc. | 12,963 | ||||||
| 9 | Biogen, Inc.(a) | 2,420 | ||||||
| 92 | BioMarin Pharmaceutical, Inc.(a) | 7,682 | ||||||
| 84 | Gilead Sciences, Inc. | 5,309 | ||||||
| 14 | Ligand Pharmaceuticals, Inc.(a) | 1,229 | ||||||
| 74 | Regeneron Pharmaceuticals, Inc.(a) | 25,008 | ||||||
| 4 | Vertex Pharmaceuticals, Inc.(a) | 908 | ||||||
|
|
|
|||||||
| 59,570 | ||||||||
|
|
|
|||||||
| Building Products — 0.3% |
|
|||||||
| 182 | Johnson Controls International PLC | 7,180 | ||||||
| 16 | Lennox International, Inc. | 3,728 | ||||||
|
|
|
|||||||
| 10,908 | ||||||||
|
|
|
|||||||
| Capital Markets — 4.6% |
|
|||||||
| 2 | Affiliated Managers Group, Inc. | 160 | ||||||
| 9 | Ameriprise Financial, Inc. | 1,489 | ||||||
| 327 | Bank of New York Mellon Corp. (The) | 14,643 | ||||||
| 12 | BlackRock, Inc. | 6,328 | ||||||
| 327 | Charles Schwab Corp. (The) | 14,895 | ||||||
| 18 | CME Group, Inc. | 3,908 | ||||||
| 41 | FactSet Research Systems, Inc. | 11,731 | ||||||
| 66 | Franklin Resources, Inc. | 1,670 | ||||||
| 38 | Goldman Sachs Group, Inc. (The) | 9,034 | ||||||
| 42 | Intercontinental Exchange, Inc. | 4,189 | ||||||
| 31 | Invesco Ltd. | 536 | ||||||
| 77 | Janus Henderson Group PLC | 1,946 | ||||||
| 87 | Legg Mason, Inc. | 3,406 | ||||||
| 58 | Moody’s Corp. | 14,894 | ||||||
| 45 | MSCI, Inc. | 12,861 | ||||||
| 45 | Northern Trust Corp. | 4,401 | ||||||
| 36 | S&P Global, Inc. | 10,574 | ||||||
| 189 | SEI Investments Co. | 12,334 | ||||||
| 240 | State Street Corp. | 18,151 | ||||||
|
|
|
|||||||
| 147,150 | ||||||||
|
|
|
|||||||
| Chemicals — 0.8% |
|
|||||||
| 24 | DuPont de Nemours, Inc. | 1,228 | ||||||
| 39 | Ecolab, Inc. | 7,648 | ||||||
| 41 | HB Fuller Co. | 1,895 | ||||||
| 32 | Innospec, Inc. | 3,223 | ||||||
| 9 | International Flavors & Fragrances, Inc. | 1,180 | ||||||
| 40 | Linde PLC | 8,125 | ||||||
| 38 | Minerals Technologies, Inc. | 2,057 | ||||||
| 21 | Stepan Co. | 2,072 | ||||||
|
|
|
|||||||
| 27,428 | ||||||||
|
|
|
|||||||
| Commercial Services & Supplies — 0.3% |
|
|||||||
| 38 | Healthcare Services Group, Inc. | 973 | ||||||
| 23 | MSA Safety, Inc. | 3,119 | ||||||
| 32 | Tetra Tech, Inc. | 2,739 | ||||||
| 32 | Waste Management, Inc. | 3,894 | ||||||
|
|
|
|||||||
| 10,725 | ||||||||
|
|
|
|||||||
| Communications Equipment — 0.8% |
|
|||||||
| 54 | Ciena Corp.(a) | 2,196 | ||||||
| 383 | Cisco Systems, Inc. | 17,606 | ||||||
| 6 | F5 Networks, Inc.(a) | 733 | ||||||
| 27 | InterDigital, Inc. | 1,492 | ||||||
| 29 | Lumentum Holdings, Inc.(a) | 2,197 | ||||||
See accompanying notes to financial statements.
| 90
Table of Contents
Portfolio of Investments – as of January 31, 2020
Natixis Sustainable Future 2060 Fund – (continued)
|
Shares |
Description | Value (†) | ||||||
| Communications Equipment — continued |
|
|||||||
| 13 | Motorola Solutions, Inc. | $ | 2,301 | |||||
|
|
|
|||||||
| 26,525 | ||||||||
|
|
|
|||||||
| Construction & Engineering — 0.2% |
|
|||||||
| 102 | AECOM(a) | 4,919 | ||||||
| 118 | Fluor Corp. | 2,111 | ||||||
|
|
|
|||||||
| 7,030 | ||||||||
|
|
|
|||||||
| Consumer Finance — 0.7% |
|
|||||||
| 33 | American Express Co. | 4,286 | ||||||
| 170 | Capital One Financial Corp. | 16,966 | ||||||
| 77 | Navient Corp. | 1,107 | ||||||
|
|
|
|||||||
| 22,359 | ||||||||
|
|
|
|||||||
| Containers & Packaging — 0.2% |
|
|||||||
| 64 | Ball Corp. | 4,620 | ||||||
| 39 | International Paper Co. | 1,588 | ||||||
| 152 | O-I Glass, Inc. | 1,918 | ||||||
|
|
|
|||||||
| 8,126 | ||||||||
|
|
|
|||||||
| Distributors — 0.2% |
|
|||||||
| 29 | Genuine Parts Co. | 2,714 | ||||||
| 15 | POOL CORP. | 3,289 | ||||||
|
|
|
|||||||
| 6,003 | ||||||||
|
|
|
|||||||
| Diversified Consumer Services — 0.1% |
|
|||||||
| 67 | Service Corp. International | 3,213 | ||||||
|
|
|
|||||||
| Diversified Telecommunication Services — 0.3% |
|
|||||||
| 122 | AT&T, Inc. | 4,590 | ||||||
| 65 | Verizon Communications, Inc. | 3,863 | ||||||
|
|
|
|||||||
| 8,453 | ||||||||
|
|
|
|||||||
| Electric Utilities — 0.6% |
|
|||||||
| 96 | American Electric Power Co., Inc. | 10,005 | ||||||
| 14 | Edison International | 1,072 | ||||||
| 24 | Eversource Energy | 2,218 | ||||||
| 19 | FirstEnergy Corp. | 965 | ||||||
| 30 | IDACORP, Inc. | 3,366 | ||||||
| 33 | PPL Corp. | 1,194 | ||||||
|
|
|
|||||||
| 18,820 | ||||||||
|
|
|
|||||||
| Electrical Equipment — 0.2% |
|
|||||||
| 11 | Acuity Brands, Inc. | 1,296 | ||||||
| 42 | Eaton Corp. PLC | 3,968 | ||||||
| 20 | Hubbell, Inc. | 2,865 | ||||||
|
|
|
|||||||
| 8,129 | ||||||||
|
|
|
|||||||
| Electronic Equipment, Instruments & Components — 0.9% |
|
|||||||
| 53 | Avnet, Inc. | 1,934 | ||||||
| 22 | Belden, Inc. | 1,084 | ||||||
| 58 | Cognex Corp. | 2,956 | ||||||
| 13 | Coherent, Inc.(a) | 1,839 | ||||||
| 30 | Corning, Inc. | 801 | ||||||
| 11 | Littelfuse, Inc. | 1,946 | ||||||
| 10 | Rogers Corp.(a) | 1,177 | ||||||
| 126 | TE Connectivity Ltd. | 11,615 | ||||||
| 66 | Trimble, Inc.(a) | 2,806 | ||||||
| 96 | Vishay Intertechnology, Inc. | 1,948 | ||||||
|
|
|
|||||||
| 28,106 | ||||||||
|
|
|
|||||||
| Energy Equipment & Services — 0.5% |
|
|||||||
| 33 | Apergy Corp.(a) | 854 | ||||||
| 46 | Baker Hughes Co. | 996 | ||||||
| 18 | Core Laboratories NV | 632 | ||||||
| 68 | National Oilwell Varco, Inc. | 1,402 | ||||||
| 57 | Oceaneering International, Inc.(a) | 707 | ||||||
| Energy Equipment & Services — continued |
|
|||||||
| 50 | Oil States International, Inc.(a) | $ | 539 | |||||
| 296 | Schlumberger Ltd. | 9,919 | ||||||
| 47 | TechnipFMC PLC | 776 | ||||||
|
|
|
|||||||
| 15,825 | ||||||||
|
|
|
|||||||
| Entertainment — 1.4% |
|
|||||||
| 28 | Activision Blizzard, Inc. | 1,637 | ||||||
| 46 | Cinemark Holdings, Inc. | 1,450 | ||||||
| 16 | Electronic Arts, Inc.(a) | 1,727 | ||||||
| 57 | Netflix, Inc.(a) | 19,670 | ||||||
| 19 | Take-Two Interactive Software, Inc.(a) | 2,368 | ||||||
| 125 | Walt Disney Co. (The) | 17,289 | ||||||
|
|
|
|||||||
| 44,141 | ||||||||
|
|
|
|||||||
| Food & Staples Retailing — 0.3% |
|
|||||||
| 83 | Kroger Co. (The) | 2,229 | ||||||
| 173 | SpartanNash Co. | 2,107 | ||||||
| 20 | Sysco Corp. | 1,643 | ||||||
| 76 | Walgreens Boots Alliance, Inc. | 3,865 | ||||||
|
|
|
|||||||
| 9,844 | ||||||||
|
|
|
|||||||
| Food Products — 0.8% |
|
|||||||
| 54 | Campbell Soup Co. | 2,613 | ||||||
| 526 | Danone S.A., Sponsored ADR | 8,390 | ||||||
| 40 | General Mills, Inc. | 2,089 | ||||||
| 56 | Hain Celestial Group, Inc. (The)(a) | 1,356 | ||||||
| 3 | Hershey Co. (The) | 465 | ||||||
| 33 | Hormel Foods Corp. | 1,560 | ||||||
| 30 | Ingredion, Inc. | 2,640 | ||||||
| 12 | J.M. Smucker Co. (The) | 1,243 | ||||||
| 44 | Kellogg Co. | 3,001 | ||||||
| 6 | McCormick & Co., Inc. | 980 | ||||||
| 15 | Mondelez International, Inc., Class A | 861 | ||||||
|
|
|
|||||||
| 25,198 | ||||||||
|
|
|
|||||||
| Gas Utilities — 0.3% |
|
|||||||
| 61 | New Jersey Resources Corp. | 2,521 | ||||||
| 33 | ONE Gas, Inc. | 3,119 | ||||||
| 63 | South Jersey Industries, Inc. | 1,940 | ||||||
| 70 | UGI Corp. | 2,911 | ||||||
|
|
|
|||||||
| 10,491 | ||||||||
|
|
|
|||||||
| Health Care Equipment & Supplies — 0.8% |
|
|||||||
| 2 | Becton Dickinson & Co. | 550 | ||||||
| 18 | Boston Scientific Corp.(a) | 754 | ||||||
| 4 | Cooper Cos., Inc. (The) | 1,387 | ||||||
| 13 | Danaher Corp. | 2,091 | ||||||
| 13 | DENTSPLY SIRONA, Inc. | 728 | ||||||
| 2 | Edwards Lifesciences Corp.(a) | 440 | ||||||
| 30 | Globus Medical, Inc., Class A(a) | 1,568 | ||||||
| 15 | Haemonetics Corp.(a) | 1,611 | ||||||
| 30 | Hill-Rom Holdings, Inc. | 3,195 | ||||||
| 21 | Hologic, Inc.(a) | 1,124 | ||||||
| 2 | Intuitive Surgical, Inc.(a) | 1,120 | ||||||
| 103 | Meridian Bioscience, Inc. | 1,013 | ||||||
| 23 | Merit Medical Systems, Inc.(a) | 838 | ||||||
| 4 | STERIS PLC | 603 | ||||||
| 2 | Stryker Corp. | 421 | ||||||
| 33 | Varian Medical Systems, Inc.(a) | 4,639 | ||||||
| 22 | West Pharmaceutical Services, Inc. | 3,431 | ||||||
|
|
|
|||||||
| 25,513 | ||||||||
|
|
|
|||||||
| Health Care Providers & Services — 2.3% |
|
|||||||
| 31 | Acadia Healthcare Co., Inc.(a) | 996 | ||||||
| 11 | Amedisys, Inc.(a) | 1,941 | ||||||
| 6 | Anthem, Inc. | 1,592 | ||||||
See accompanying notes to financial statements.
91 |
Table of Contents
Portfolio of Investments – as of January 31, 2020
Natixis Sustainable Future 2060 Fund – (continued)
|
Shares |
Description | Value (†) | ||||||
| Health Care Providers & Services — continued |
|
|||||||
| 22 | BioTelemetry, Inc.(a) | $ | 1,076 | |||||
| 72 | Centene Corp.(a) | 4,522 | ||||||
| 8 | Chemed Corp. | 3,736 | ||||||
| 10 | Cigna Corp. | 1,924 | ||||||
| 179 | CVS Health Corp. | 12,140 | ||||||
| 14 | DaVita, Inc.(a) | 1,118 | ||||||
| 29 | Encompass Health Corp. | 2,234 | ||||||
| 85 | HCA Healthcare, Inc. | 11,798 | ||||||
| 23 | Henry Schein, Inc.(a) | 1,586 | ||||||
| 34 | Humana, Inc. | 11,432 | ||||||
| 18 | Laboratory Corp. of America Holdings(a) | 3,157 | ||||||
| 118 | MEDNAX, Inc.(a) | 2,722 | ||||||
| 51 | Patterson Cos., Inc. | 1,123 | ||||||
| 28 | Quest Diagnostics, Inc. | 3,099 | ||||||
| 24 | UnitedHealth Group, Inc. | 6,539 | ||||||
|
|
|
|||||||
| 72,735 | ||||||||
|
|
|
|||||||
| Health Care Technology — 0.5% |
|
|||||||
| 109 | Allscripts Healthcare Solutions, Inc.(a) | 935 | ||||||
| 171 | Cerner Corp. | 12,283 | ||||||
| 54 | HMS Holdings Corp.(a) | 1,475 | ||||||
|
|
|
|||||||
| 14,693 | ||||||||
|
|
|
|||||||
| Hotels, Restaurants & Leisure — 2.1% |
|
|||||||
| 9 | Domino’s Pizza, Inc. | 2,536 | ||||||
| 31 | Dunkin’ Brands Group, Inc. | 2,421 | ||||||
| 80 | Hilton Worldwide Holdings, Inc. | 8,624 | ||||||
| 18 | Jack in the Box, Inc. | 1,471 | ||||||
| 19 | Marriott Vacations Worldwide Corp. | 2,284 | ||||||
| 7 | McDonald’s Corp. | 1,498 | ||||||
| 375 | MGM Resorts International | 11,647 | ||||||
| 7 | Royal Caribbean Cruises Ltd. | 820 | ||||||
| 136 | Starbucks Corp. | 11,537 | ||||||
| 115 | Wendy’s Co. (The) | 2,492 | ||||||
| 326 | Yum China Holdings, Inc. | 14,041 | ||||||
| 61 | Yum! Brands, Inc. | 6,452 | ||||||
|
|
|
|||||||
| 65,823 | ||||||||
|
|
|
|||||||
| Household Durables — 0.3% |
|
|||||||
| 91 | KB Home | 3,417 | ||||||
| 69 | Meritage Homes Corp.(a) | 4,896 | ||||||
|
|
|
|||||||
| 8,313 | ||||||||
|
|
|
|||||||
| Household Products — 1.0% |
|
|||||||
| 134 | Colgate-Palmolive Co. | 9,886 | ||||||
| 169 | Procter & Gamble Co. (The) | 21,061 | ||||||
|
|
|
|||||||
| 30,947 | ||||||||
|
|
|
|||||||
| Independent Power & Renewable Electricity Producers — 0.5% |
|
|||||||
| 66 | AES Corp. (The) | 1,311 | ||||||
| 102 | Ormat Technologies, Inc. | 8,085 | ||||||
| 241 | Pattern Energy Group, Inc., Class A | 6,485 | ||||||
|
|
|
|||||||
| 15,881 | ||||||||
|
|
|
|||||||
| Industrial Conglomerates — 0.5% |
|
|||||||
| 1,103 | General Electric Co. | 13,733 | ||||||
| 6 | Honeywell International, Inc. | 1,039 | ||||||
|
|
|
|||||||
| 14,772 | ||||||||
|
|
|
|||||||
| Insurance — 1.4% |
|
|||||||
| 18 | Aflac, Inc. | 928 | ||||||
| 35 | Allstate Corp. (The) | 4,149 | ||||||
| 228 | American International Group, Inc. | 11,459 | ||||||
| 6 | Brighthouse Financial, Inc.(a) | 233 | ||||||
| 52 | Chubb Ltd. | 7,904 | ||||||
| 52 | First American Financial Corp. | 3,223 | ||||||
| Insurance — continued |
|
|||||||
| 19 | Hanover Insurance Group, Inc. (The) | $ | 2,633 | |||||
| 32 | Hartford Financial Services Group, Inc. (The) | 1,897 | ||||||
| 32 | Lincoln National Corp. | 1,743 | ||||||
| 23 | Marsh & McLennan Cos., Inc. | 2,573 | ||||||
| 64 | Prudential Financial, Inc. | 5,828 | ||||||
| 25 | Travelers Cos., Inc. (The) | 3,291 | ||||||
|
|
|
|||||||
| 45,861 | ||||||||
|
|
|
|||||||
| Interactive Media & Services — 2.9% |
|
|||||||
| 13 | Alphabet, Inc., Class A(a) | 18,626 | ||||||
| 26 | Alphabet, Inc., Class C(a) | 37,290 | ||||||
| 185 | Facebook, Inc., Class A(a) | 37,353 | ||||||
|
|
|
|||||||
| 93,269 | ||||||||
|
|
|
|||||||
| Internet & Direct Marketing Retail — 2.7% |
|
|||||||
| 139 | Alibaba Group Holding Ltd., Sponsored ADR(a) | 28,716 | ||||||
| 16 | Amazon.com, Inc.(a) | 32,139 | ||||||
| 8 | Booking Holdings, Inc.(a) | 14,644 | ||||||
| 292 | eBay, Inc. | 9,800 | ||||||
| 37 | Etsy, Inc.(a) | 1,806 | ||||||
|
|
|
|||||||
| 87,105 | ||||||||
|
|
|
|||||||
| IT Services — 3.3% |
|
|||||||
| 79 | Automatic Data Processing, Inc. | 13,540 | ||||||
| 57 | Cognizant Technology Solutions Corp., Class A | 3,499 | ||||||
| 262 | DXC Technology Co. | 8,352 | ||||||
| 11 | Fiserv, Inc.(a) | 1,305 | ||||||
| 51 | Gartner, Inc.(a) | 8,200 | ||||||
| 18 | International Business Machines Corp. | 2,587 | ||||||
| 41 | MasterCard, Inc., Class A | 12,953 | ||||||
| 21 | Paychex, Inc. | 1,801 | ||||||
| 23 | PayPal Holdings, Inc.(a) | 2,619 | ||||||
| 155 | Sabre Corp. | 3,339 | ||||||
| 8 | VeriSign, Inc.(a) | 1,665 | ||||||
| 209 | Visa, Inc., Class A | 41,585 | ||||||
| 15 | WEX, Inc.(a) | 3,254 | ||||||
|
|
|
|||||||
| 104,699 | ||||||||
|
|
|
|||||||
| Leisure Products — 0.0% |
|
|||||||
| 66 | Callaway Golf Co. | 1,414 | ||||||
|
|
|
|||||||
| Life Sciences Tools & Services — 0.3% |
|
|||||||
| 17 | Agilent Technologies, Inc. | 1,404 | ||||||
| 1 | Illumina, Inc.(a) | 290 | ||||||
| 9 | IQVIA Holdings, Inc.(a) | 1,397 | ||||||
| 29 | Repligen Corp.(a) | 2,911 | ||||||
| 13 | Thermo Fisher Scientific, Inc. | 4,072 | ||||||
| 3 | Waters Corp.(a) | 671 | ||||||
|
|
|
|||||||
| 10,745 | ||||||||
|
|
|
|||||||
| Machinery — 2.2% |
|
|||||||
| 36 | AGCO Corp. | 2,525 | ||||||
| 299 | Briggs & Stratton Corp. | 1,097 | ||||||
| 91 | Caterpillar, Inc. | 11,953 | ||||||
| 54 | Cummins, Inc. | 8,638 | ||||||
| 83 | Deere & Co. | 13,162 | ||||||
| 44 | Flowserve Corp. | 2,054 | ||||||
| 51 | ITT, Inc. | 3,421 | ||||||
| 61 | Kennametal, Inc. | 1,909 | ||||||
| 40 | Oshkosh Corp. | 3,442 | ||||||
| 78 | Parker-Hannifin Corp. | 15,264 | ||||||
| 11 | Proto Labs, Inc.(a) | 1,138 | ||||||
| 48 | Terex Corp. | 1,217 | ||||||
| 44 | Toro Co. (The) | 3,521 | ||||||
| 13 | Xylem, Inc. | 1,062 | ||||||
|
|
|
|||||||
| 70,403 | ||||||||
|
|
|
|||||||
See accompanying notes to financial statements.
| 92
Table of Contents
Portfolio of Investments – as of January 31, 2020
Natixis Sustainable Future 2060 Fund – (continued)
|
Shares |
Description | Value (†) | ||||||
| Media — 1.3% |
|
|||||||
| 3 | Cable One, Inc. | $ | 5,112 | |||||
| 28 | Charter Communications, Inc., Class A(a) | 14,489 | ||||||
| 260 | Comcast Corp., Class A | 11,229 | ||||||
| 21 | Discovery, Inc., Series C(a) | 583 | ||||||
| 44 | Fox Corp., Class A | 1,632 | ||||||
| 60 | Interpublic Group of Cos., Inc. (The) | 1,362 | ||||||
| 52 | New York Times Co. (The), Class A | 1,665 | ||||||
| 40 | Omnicom Group, Inc. | 3,012 | ||||||
| 47 | ViacomCBS, Inc., Class B | 1,604 | ||||||
|
|
|
|||||||
| 40,688 | ||||||||
|
|
|
|||||||
| Metals & Mining — 0.5% |
|
|||||||
| 87 | Commercial Metals Co. | 1,788 | ||||||
| 120 | Newmont Corp. | 5,407 | ||||||
| 10 | Nucor Corp. | 475 | ||||||
| 39 | Reliance Steel & Aluminum Co. | 4,477 | ||||||
| 24 | Royal Gold, Inc. | 2,768 | ||||||
|
|
|
|||||||
| 14,915 | ||||||||
|
|
|
|||||||
| Multi-Utilities — 0.4% |
|
|||||||
| 56 | Consolidated Edison, Inc. | 5,264 | ||||||
| 24 | DTE Energy Co. | 3,183 | ||||||
| 15 | Sempra Energy | 2,410 | ||||||
| 14 | WEC Energy Group, Inc. | 1,398 | ||||||
|
|
|
|||||||
| 12,255 | ||||||||
|
|
|
|||||||
| Multiline Retail — 0.1% |
|
|||||||
| 9 | Macy’s, Inc. | 143 | ||||||
| 39 | Target Corp. | 4,319 | ||||||
|
|
|
|||||||
| 4,462 | ||||||||
|
|
|
|||||||
| Oil, Gas & Consumable Fuels — 1.3% |
|
|||||||
| 362 | Apache Corp. | 9,933 | ||||||
| 77 | Concho Resources, Inc. | 5,835 | ||||||
| 551 | Denbury Resources, Inc.(a) | 543 | ||||||
| 71 | Devon Energy Corp. | 1,542 | ||||||
| 59 | Diamondback Energy, Inc. | 4,390 | ||||||
| 75 | EOG Resources, Inc. | 5,468 | ||||||
| 89 | EQT Corp. | 538 | ||||||
| 72 | Green Plains, Inc. | 898 | ||||||
| 179 | Marathon Oil Corp. | 2,035 | ||||||
| 109 | Noble Energy, Inc. | 2,155 | ||||||
| 58 | ONEOK, Inc. | 4,342 | ||||||
| 508 | Southwestern Energy Co.(a) | 798 | ||||||
| 29 | Valero Energy Corp. | 2,445 | ||||||
| 46 | World Fuel Services Corp. | 1,800 | ||||||
|
|
|
|||||||
| 42,722 | ||||||||
|
|
|
|||||||
| Paper & Forest Products — 0.1% |
|
|||||||
| 36 | Domtar Corp. | 1,254 | ||||||
| 64 | Louisiana-Pacific Corp. | 1,963 | ||||||
|
|
|
|||||||
| 3,217 | ||||||||
|
|
|
|||||||
| Personal Products — 0.0% |
|
|||||||
| 7 | Estee Lauder Cos., Inc. (The), Class A | 1,366 | ||||||
|
|
|
|||||||
| Pharmaceuticals — 1.9% |
|
|||||||
| 3 | Allergan PLC | 560 | ||||||
| 41 | Bristol-Myers Squibb Co. | 2,581 | ||||||
| 49 | Catalent, Inc.(a) | 2,994 | ||||||
| 26 | Eli Lilly & Co. | 3,630 | ||||||
| 96 | Merck & Co., Inc. | 8,202 | ||||||
| 87 | Novartis AG, Sponsored ADR | 8,222 | ||||||
| 219 | Novo Nordisk AS, Sponsored ADR | 13,322 | ||||||
| 16 | Perrigo Co. PLC | 913 | ||||||
| 145 | Pfizer, Inc. | 5,400 | ||||||
| Pharmaceuticals — continued |
|
|||||||
| 334 | Roche Holding AG, Sponsored ADR | $ | 13,961 | |||||
|
|
|
|||||||
| 59,785 | ||||||||
|
|
|
|||||||
| Professional Services — 0.3% |
|
|||||||
| 41 | Exponent, Inc. | 2,984 | ||||||
| 15 | Insperity, Inc. | 1,311 | ||||||
| 39 | Korn Ferry | 1,598 | ||||||
| 23 | ManpowerGroup, Inc. | 2,104 | ||||||
| 28 | Nielsen Holdings PLC | 571 | ||||||
|
|
|
|||||||
| 8,568 | ||||||||
|
|
|
|||||||
| Real Estate Management & Development — 0.2% |
|
|||||||
| 27 | CBRE Group, Inc., Class A(a) | 1,649 | ||||||
| 21 | Jones Lang LaSalle, Inc. | 3,566 | ||||||
|
|
|
|||||||
| 5,215 | ||||||||
|
|
|
|||||||
| REITs – Apartments — 0.5% |
|
|||||||
| 74 | American Campus Communities, Inc. | 3,394 | ||||||
| 6 | AvalonBay Communities, Inc. | 1,300 | ||||||
| 49 | Camden Property Trust | 5,509 | ||||||
| 28 | Equity Residential | 2,326 | ||||||
| 8 | Essex Property Trust, Inc. | 2,478 | ||||||
| 2 | Mid-America Apartment Communities, Inc. | 275 | ||||||
|
|
|
|||||||
| 15,282 | ||||||||
|
|
|
|||||||
| REITs – Diversified — 0.2% |
|
|||||||
| 11 | Crown Castle International Corp. | 1,648 | ||||||
| 9 | Digital Realty Trust, Inc. | 1,107 | ||||||
| 3 | Equinix, Inc. | 1,769 | ||||||
| 81 | Weyerhaeuser Co. | 2,345 | ||||||
|
|
|
|||||||
| 6,869 | ||||||||
|
|
|
|||||||
| REITs – Health Care — 0.3% |
|
|||||||
| 27 | Ventas, Inc. | 1,562 | ||||||
| 79 | Welltower, Inc. | 6,708 | ||||||
|
|
|
|||||||
| 8,270 | ||||||||
|
|
|
|||||||
| REITs – Hotels — 0.0% |
|
|||||||
| 96 | Host Hotels & Resorts, Inc. | 1,569 | ||||||
|
|
|
|||||||
| REITs – Office Property — 0.6% |
|
|||||||
| 12 | Boston Properties, Inc. | 1,720 | ||||||
| 111 | Corporate Office Properties Trust | 3,305 | ||||||
| 126 | Douglas Emmett, Inc. | 5,229 | ||||||
| 168 | Easterly Government Properties, Inc. | 4,067 | ||||||
| 56 | Kilroy Realty Corp. | 4,624 | ||||||
|
|
|
|||||||
| 18,945 | ||||||||
|
|
|
|||||||
| REITs – Regional Malls — 0.1% |
|
|||||||
| 14 | Simon Property Group, Inc. | 1,864 | ||||||
|
|
|
|||||||
| REITs – Storage — 0.0% |
|
|||||||
| 20 | Iron Mountain, Inc. | 632 | ||||||
| 4 | Public Storage | 895 | ||||||
|
|
|
|||||||
| 1,527 | ||||||||
|
|
|
|||||||
| REITs – Warehouse/Industrials — 0.2% |
|
|||||||
| 36 | CyrusOne, Inc. | 2,191 | ||||||
| 91 | Liberty Property Trust | 5,701 | ||||||
|
|
|
|||||||
| 7,892 | ||||||||
|
|
|
|||||||
| Road & Rail — 0.5% |
|
|||||||
| 12 | Kansas City Southern | 2,024 | ||||||
| 36 | Norfolk Southern Corp. | 7,496 | ||||||
| 30 | Ryder System, Inc. | 1,432 | ||||||
| 36 | Union Pacific Corp. | 6,459 | ||||||
|
|
|
|||||||
| 17,411 | ||||||||
|
|
|
|||||||
See accompanying notes to financial statements.
93 |
Table of Contents
Portfolio of Investments – as of January 31, 2020
Natixis Sustainable Future 2060 Fund – (continued)
See accompanying notes to financial statements.
| 94
Table of Contents
Portfolio of Investments – as of January 31, 2020
Natixis Sustainable Future 2060 Fund – (continued)
Asset Allocation Summary at January 31, 2020
|
Equity |
95.7 | % | ||
|
Fixed Income |
5.6 | |||
|
|
|
|||
|
Total Investments |
101.3 | |||
|
Other assets less liabilities |
(1.3 | ) | ||
|
|
|
|||
|
Net Assets |
100.0 | % | ||
|
|
|
See accompanying notes to financial statements.
95 |
Table of Contents
This Page Intentionally Left Blank
| 96
Table of Contents
Statements of Assets and Liabilities
January 31, 2020
|
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 |
$ | 3,255,688 | $ | 3,441,777 | $ | 3,819,784 | $ | 4,065,571 | ||||||||
|
Affiliated investments at cost |
2,569,645 | 2,169,056 | 1,876,200 | 1,844,090 | ||||||||||||
|
Net unrealized appreciation on unaffiliated investments |
168,486 | 193,165 | 174,118 | 190,282 | ||||||||||||
|
Net unrealized appreciation on affiliated investments |
93,214 | 90,674 | 78,421 | 76,625 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Investments at value |
6,087,033 | 5,894,672 | 5,948,523 | 6,176,568 | ||||||||||||
|
Cash |
57,197 | 56,445 | 39,154 | 43,202 | ||||||||||||
|
Receivable for Fund shares sold |
193 | 383 | 209 | 2,476 | ||||||||||||
|
Receivable from investment adviser (Note 5) |
21,633 | 22,122 | 20,900 | 25,473 | ||||||||||||
|
Receivable for securities sold |
127,650 | 117,110 | 76,413 | 100,701 | ||||||||||||
|
Dividends and interest receivable |
10,542 | 10,175 | 9,298 | 9,114 | ||||||||||||
|
Dividends receivable from affiliates |
1,179 | 1,018 | 778 | 536 | ||||||||||||
|
Tax reclaims receivable |
369 | 508 | 375 | 361 | ||||||||||||
|
Prepaid expenses (Note 6) |
1 | 1 | — | — | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
TOTAL ASSETS |
6,305,797 | 6,102,434 | 6,095,650 | 6,358,431 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
LIABILITIES |
|
|||||||||||||||
|
Payable for securities purchased |
56,335 | 37,479 | 22,307 | 49,038 | ||||||||||||
|
Payable for Fund shares redeemed |
— | — | — | — | ||||||||||||
|
Payable to custodian bank (Note 7) |
— | — | — | — | ||||||||||||
|
Deferred Trustees’ fees (Note 5) |
11,654 | 11,655 | 11,628 | 11,617 | ||||||||||||
|
Administrative fees payable (Note 5) |
231 | 225 | 228 | 235 | ||||||||||||
|
Audit and tax services fees payable |
29,254 | 29,254 | 29,253 | 29,253 | ||||||||||||
|
Other accounts payable and accrued expenses |
17,172 | 17,517 | 17,254 | 18,368 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
TOTAL LIABILITIES |
114,646 | 96,130 | 80,670 | 108,511 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
NET ASSETS |
$ | 6,191,151 | $ | 6,006,304 | $ | 6,014,980 | $ | 6,249,920 | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
NET ASSETS CONSIST OF: |
|
|||||||||||||||
|
Paid-in capital |
$ | 5,892,236 | $ | 5,686,581 | $ | 5,731,829 | $ | 5,898,522 | ||||||||
|
Accumulated earnings |
298,915 | 319,723 | 283,151 | 351,398 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
NET ASSETS |
$ | 6,191,151 | $ | 6,006,304 | $ | 6,014,980 | $ | 6,249,920 | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
COMPUTATION OF NET ASSET VALUE AND OFFERING PRICE: |
|
|||||||||||||||
|
Class N shares: |
|
|||||||||||||||
|
Net assets |
$ | 6,191,151 | $ | 6,006,304 | $ | 6,014,980 | $ | 6,249,920 | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Shares of beneficial interest |
578,402 | 563,215 | 552,337 | 560,298 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Net asset value, offering and redemption price per share |
$ | 10.70 | $ | 10.66 | $ | 10.89 | $ | 11.15 | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
See accompanying notes to financial statements.
97 |
Table of Contents
Statements of Assets and Liabilities (continued)
January 31, 2020
|
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 |
|||||||||||||||||
| $ | 3,936,647 | $ | 4,033,257 | $ | 3,703,964 | $ | 3,459,754 | $ | 3,236,152 | $ | 2,494,685 | |||||||||||
| 1,295,879 | 1,286,720 | 997,706 | 825,235 | 711,568 | 533,309 | |||||||||||||||||
| 232,039 | 229,217 | 155,403 | 158,762 | 145,127 | 149,865 | |||||||||||||||||
| 99,272 | 92,849 | 75,998 | 71,263 | 62,681 | 61,888 | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| 5,563,837 | 5,642,043 | 4,933,071 | 4,515,014 | 4,155,528 | 3,239,747 | |||||||||||||||||
| — | — | 19,294 | — | 4,339 | — | |||||||||||||||||
| 362 | 2,076 | 298 | 2,548 | 484 | 2,448 | |||||||||||||||||
| 21,926 | 26,100 | 21,566 | 24,638 | 21,605 | 21,806 | |||||||||||||||||
| 125,178 | 104,839 | 59,546 | 98,280 | 65,063 | 74,668 | |||||||||||||||||
| 6,248 | 4,557 | 3,782 | 3,459 | 3,191 | 2,584 | |||||||||||||||||
| 301 | 162 | 139 | — | — | — | |||||||||||||||||
| 406 | 500 | 428 | 385 | 378 | 384 | |||||||||||||||||
| — | — | — | — | — | — | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| 5,718,258 | 5,780,277 | 5,038,124 | 4,644,324 | 4,250,588 | 3,341,637 | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| 43,173 | 30,254 | 12,854 | 13,099 | 14,706 | 10,786 | |||||||||||||||||
| 16,004 | — | 16,100 | — | — | — | |||||||||||||||||
| 34,842 | 28,233 | — | 15,001 | — | 75,281 | |||||||||||||||||
| 11,628 | 11,617 | 11,597 | 11,598 | 11,592 | 11,588 | |||||||||||||||||
| 211 | 213 | 183 | 167 | 149 | 120 | |||||||||||||||||
| 29,254 | 29,253 | 29,254 | 29,254 | 29,253 | 29,253 | |||||||||||||||||
| 17,516 | 18,330 | 17,347 | 18,245 | 17,251 | 16,621 | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| 152,628 | 117,900 | 87,335 | 87,364 | 72,951 | 143,649 | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| $ | 5,565,630 | $ | 5,662,377 | $ | 4,950,789 | $ | 4,556,960 | $ | 4,177,637 | $ | 3,197,988 | |||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| $ | 5,185,863 | $ | 5,286,264 | $ | 4,681,054 | $ | 4,264,357 | $ | 3,942,416 | $ | 2,964,115 | |||||||||||
| 379,767 | 376,113 | 269,735 | 292,603 | 235,221 | 233,873 | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| $ | 5,565,630 | $ | 5,662,377 | $ | 4,950,789 | $ | 4,556,960 | $ | 4,177,637 | $ | 3,197,988 | |||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| $ | 5,565,630 | $ | 5,662,377 | $ | 4,950,789 | $ | 4,556,960 | $ | 4,177,637 | $ | 3,197,988 | |||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| 495,210 | 506,341 | 443,187 | 408,872 | 375,999 | 289,991 | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| $ | 11.24 | $ | 11.18 | $ | 11.17 | $ | 11.15 | $ | 11.11 | $ | 11.03 | |||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
See accompanying notes to financial statements.
| 98
Table of Contents
Statements of Operations
For the Year Ended January 31, 2020
|
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 |
$ | 37,139 | $ | 43,943 | $ | 44,550 | $ | 48,795 | ||||||||
|
Dividends from affiliated investments |
41,648 | 35,599 | 26,542 | 23,021 | ||||||||||||
|
Interest |
20,174 | 19,881 | 14,959 | 11,795 | ||||||||||||
|
Less net foreign taxes withheld |
(271 | ) | (513 | ) | (284 | ) | (346 | ) | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| 98,690 | 98,910 | 85,767 | 83,265 | |||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Expenses |
|
|||||||||||||||
|
Management fees (Note 5) |
38,883 | 40,106 | 35,216 | 34,781 | ||||||||||||
|
Administrative fees (Note 5) |
2,243 | 2,260 | 1,948 | 1,906 | ||||||||||||
|
Trustees’ fees and expenses (Note 5) |
17,413 | 17,413 | 17,387 | 17,381 | ||||||||||||
|
Transfer agent fees and expenses |
1,080 | 1,132 | 1,135 | 1,167 | ||||||||||||
|
Audit and tax services fees |
33,183 | 33,183 | 33,183 | 33,183 | ||||||||||||
|
Custodian fees and expenses |
33,395 | 32,997 | 34,830 | 40,482 | ||||||||||||
|
Legal fees (Note 6) |
3,216 | 3,289 | 2,823 | 2,368 | ||||||||||||
|
Registration fees |
26,368 | 26,368 | 26,368 | 26,368 | ||||||||||||
|
Regulatory filing fees |
12,458 | 12,458 | 12,458 | 12,458 | ||||||||||||
|
Shareholder reporting expenses |
10,694 | 10,716 | 9,835 | 9,426 | ||||||||||||
|
Miscellaneous expenses (Note 6) |
10,157 | 10,209 | 10,142 | 10,246 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Total expenses |
189,090 | 190,131 | 185,325 | 189,766 | ||||||||||||
|
Less waiver and/or expense reimbursement (Note 5) |
(173,096 | ) | (173,495 | ) | (170,276 | ) | (173,901 | ) | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Net expenses |
15,994 | 16,636 | 15,049 | 15,865 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Net investment income |
82,696 | 82,274 | 70,718 | 67,400 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
NET REALIZED AND UNREALIZED GAIN ON INVESTMENTS |
|
|||||||||||||||
|
Net realized gain on: |
|
|||||||||||||||
|
Unaffiliated investments |
221,823 | 189,091 | 188,039 | 254,160 | ||||||||||||
|
Affiliated investments |
29,291 | 34,319 | 25,108 | 31,235 | ||||||||||||
|
Distributions of capital gains received from affiliated investments |
8,151 | 7,731 | 5,934 | 4,986 | ||||||||||||
|
Net change in unrealized appreciation (depreciation) on: |
|
|||||||||||||||
|
Unaffiliated investments |
108,514 | 178,159 | 140,432 | 143,151 | ||||||||||||
|
Affiliated investments |
129,942 | 113,329 | 92,076 | 83,560 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Net realized and unrealized gain on investments |
497,721 | 522,629 | 451,589 | 517,092 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS |
$ | 580,417 | $ | 604,903 | $ | 522,307 | $ | 584,492 | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
See accompanying notes to financial statements.
99 |
Table of Contents
Statements of Operations (continued)
For the Year Ended January 31, 2020
|
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 |
|||||||||||||||||
| $ | 62,947 | $ | 59,399 | $ | 49,519 | $ | 51,132 | $ | 46,543 | $ | 42,812 | |||||||||||
| 19,220 | 17,040 | 11,910 | 10,114 | 8,001 | 7,242 | |||||||||||||||||
| 8,385 | 4,146 | 3,312 | 3,215 | 2,726 | 2,474 | |||||||||||||||||
| (578 | ) | (351 | ) | (296 | ) | (312 | ) | (307 | ) | (307 | ) | |||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| 89,974 | 80,234 | 64,445 | 64,149 | 56,963 | 52,221 | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| 40,214 | 35,267 | 29,059 | 29,528 | 26,360 | 23,911 | |||||||||||||||||
| 2,124 | 1,865 | 1,523 | 1,531 | 1,360 | 1,230 | |||||||||||||||||
| 17,398 | 17,378 | 17,353 | 17,354 | 17,339 | 17,331 | |||||||||||||||||
| 1,179 | 1,173 | 1,165 | 1,191 | 1,186 | 1,167 | |||||||||||||||||
| 33,183 | 33,183 | 33,182 | 33,182 | 33,182 | 33,182 | |||||||||||||||||
| 34,278 | 39,354 | 36,290 | 40,445 | 35,653 | 33,077 | |||||||||||||||||
| 3,178 | 2,492 | 1,923 | 2,122 | 1,938 | 1,821 | |||||||||||||||||
| 26,368 | 26,368 | 26,368 | 26,368 | 26,368 | 26,368 | |||||||||||||||||
| 12,458 | 12,458 | 12,458 | 12,458 | 12,458 | 12,458 | |||||||||||||||||
| 10,484 | 9,377 | 8,401 | 8,658 | 8,461 | 8,208 | |||||||||||||||||
| 10,107 | 10,192 | 10,124 | 10,174 | 10,215 | 10,207 | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| 190,971 | 189,107 | 177,846 | 183,011 | 174,520 | 168,960 | |||||||||||||||||
| (171,934 | ) | (172,463 | ) | (163,871 | ) | (168,752 | ) | (161,497 | ) | (157,246 | ) | |||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| 19,037 | 16,644 | 13,975 | 14,259 | 13,023 | 11,714 | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| 70,937 | 63,590 | 50,470 | 49,890 | 43,940 | 40,507 | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| 249,540 | 230,465 | 213,294 | 228,926 | 200,217 | 195,240 | |||||||||||||||||
| 7,528 | 14,316 | 5,468 | 15,275 | 3,557 | 1,620 | |||||||||||||||||
| 2,722 | 2,763 | 867 | 915 | 720 | 573 | |||||||||||||||||
| 199,510 | 195,100 | 95,536 | 111,721 | 98,800 | 88,170 | |||||||||||||||||
| 101,837 | 93,102 | 73,975 | 67,681 | 59,495 | 59,023 | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| 561,137 | 535,746 | 389,140 | 424,518 | 362,789 | 344,626 | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| $ | 632,074 | $ | 599,336 | $ | 439,610 | $ | 474,408 | $ | 406,729 | $ | 385,133 | |||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
See accompanying notes to financial statements.
| 100
Table of Contents
Statements of Changes in Net Assets
|
Natixis Sustainable Future
2015 Fund |
Natixis Sustainable Future
2020 Fund |
Natixis Sustainable Future
2025 Fund |
||||||||||||||||||||||
|
Year Ended
January 31, 2020 |
Year Ended
January 31, 2019 |
Year Ended
January 31, 2020 |
Year Ended
January 31, 2019 |
Year Ended
January 31, 2020 |
Year Ended
January 31, 2019 |
|||||||||||||||||||
|
FROM OPERATIONS: |
|
|||||||||||||||||||||||
|
Net investment income |
$ | 82,696 | $ | 94,583 | $ | 82,274 | $ | 89,986 | $ | 70,718 | $ | 65,783 | ||||||||||||
|
Net realized gain on investments and distributions of capital gains received from affiliated investments |
259,265 | 226,694 | 231,141 | 325,913 | 219,081 | 252,869 | ||||||||||||||||||
|
Net change in unrealized appreciation (depreciation) on investments |
238,456 | (379,868 | ) | 291,488 | (492,458 | ) | 232,508 | (407,524 | ) | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
|
Net increase (decrease) in net assets resulting from operations |
580,417 | (58,591 | ) | 604,903 | (76,559 | ) | 522,307 | (88,872 | ) | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
|
FROM DISTRIBUTIONS TO SHAREHOLDERS: |
|
|||||||||||||||||||||||
|
Class N |
(322,135 | ) | (355,507 | ) | (285,054 | ) | (465,438 | ) | (285,723 | ) | (329,260 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
|
NET INCREASE IN NET ASSETS FROM
|
1,332,578 | 478,631 | 1,146,637 | 464,635 | 2,021,861 | 656,250 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
|
Net increase (decrease) in net assets |
1,590,860 | 64,533 | 1,466,486 | (77,362 | ) | 2,258,445 | 238,118 | |||||||||||||||||
|
NET ASSETS |
|
|||||||||||||||||||||||
|
Beginning of the year |
4,600,291 | 4,535,758 | 4,539,818 | 4,617,180 | 3,756,535 | 3,518,417 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
|
End of the year |
$ | 6,191,151 | $ | 4,600,291 | $ | 6,006,304 | $ | 4,539,818 | $ | 6,014,980 | $ | 3,756,535 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
See accompanying notes to financial statements.
101 |
Table of Contents
Statements of Changes in Net Assets (continued)
|
Natixis Sustainable Future
2030 Fund |
Natixis Sustainable Future
2035 Fund |
Natixis Sustainable Future
2040 Fund |
||||||||||||||||||||||
|
Year Ended
January 31, 2020 |
Year Ended
January 31, 2019 |
Year Ended
January 31, 2020 |
Year Ended
January 31, 2019 |
Year Ended
January 31, 2020 |
Year Ended
January 31, 2019 |
|||||||||||||||||||
|
FROM OPERATIONS: |
|
|||||||||||||||||||||||
|
Net investment income |
$ | 67,400 | $ | 52,385 | $ | 70,937 | $ | 50,842 | $ | 63,590 | $ | 44,429 | ||||||||||||
|
Net realized gain on investments and distributions of capital gains received from affiliated investments |
290,381 | 245,831 | 259,790 | 294,933 | 247,544 | 312,062 | ||||||||||||||||||
|
Net change in unrealized appreciation (depreciation) on investments |
226,711 | (391,771 | ) | 301,347 | (459,860 | ) | 288,202 | (496,960 | ) | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
|
Net increase (decrease) in net assets resulting from operations |
584,492 | (93,555 | ) | 632,074 | (114,085 | ) | 599,336 | (140,469 | ) | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
|
FROM DISTRIBUTIONS TO SHAREHOLDERS: |
|
|||||||||||||||||||||||
|
Class N |
(297,864 | ) | (294,955 | ) | (318,050 | ) | (329,317 | ) | (300,687 | ) | (336,300 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
|
NET INCREASE IN NET ASSETS FROM
|
2,769,661 | 548,767 | 1,152,393 | 1,430,894 | 2,033,532 | 711,448 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
|
Net increase in net assets |
3,056,289 | 160,257 | 1,466,417 | 987,492 | 2,332,181 | 234,679 | ||||||||||||||||||
|
NET ASSETS |
|
|||||||||||||||||||||||
|
Beginning of the year |
3,193,631 | 3,033,374 | 4,099,213 | 3,111,721 | 3,330,196 | 3,095,517 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
|
End of the year |
$ | 6,249,920 | $ | 3,193,631 | $ | 5,565,630 | $ | 4,099,213 | $ | 5,662,377 | $ | 3,330,196 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
See accompanying notes to financial statements.
| 102
Table of Contents
Statements of Changes in Net Assets (continued)
|
Natixis Sustainable Future
2045 Fund |
Natixis Sustainable Future
2050 Fund |
Natixis Sustainable Future
2055 Fund |
||||||||||||||||||||||
|
Year Ended
January 31, 2020 |
Year Ended
January 31, 2019 |
Year Ended
January 31, 2020 |
Year Ended
January 31, 2019 |
Year Ended
January 31, 2020 |
Year Ended
January 31, 2019 |
|||||||||||||||||||
|
FROM OPERATIONS: |
|
|||||||||||||||||||||||
|
Net investment income |
$ | 50,470 | $ | 32,585 | $ | 49,890 | $ | 31,990 | $ | 43,940 | $ | 31,669 | ||||||||||||
|
Net realized gain on investments and distributions of capital gains received from affiliated investments |
219,629 | 246,157 | 245,116 | 254,775 | 204,494 | 260,528 | ||||||||||||||||||
|
Net change in unrealized appreciation (depreciation) on investments |
169,511 | (392,216 | ) | 179,402 | (412,633 | ) | 158,295 | (415,462 | ) | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
|
Net increase (decrease) in net assets resulting from operations |
439,610 | (113,474 | ) | 474,408 | (125,868 | ) | 406,729 | (123,265 | ) | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
|
FROM DISTRIBUTIONS TO SHAREHOLDERS: |
|
|||||||||||||||||||||||
|
Class N |
(253,894 | ) | (271,505 | ) | (264,071 | ) | (272,323 | ) | (254,037 | ) | (274,462 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
|
NET INCREASE IN NET ASSETS FROM
|
2,248,041 | 333,717 | 1,854,491 | 376,638 | 1,410,632 | 478,224 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
|
Net increase (decrease) in net assets |
2,433,757 | (51,262 | ) | 2,064,828 | (21,553 | ) | 1,563,324 | 80,497 | ||||||||||||||||
|
NET ASSETS |
|
|||||||||||||||||||||||
|
Beginning of the year |
2,517,032 | 2,568,294 | 2,492,132 | 2,513,685 | 2,614,313 | 2,533,816 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
|
End of the year |
$ | 4,950,789 | $ | 2,517,032 | $ | 4,556,960 | $ | 2,492,132 | $ | 4,177,637 | $ | 2,614,313 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
See accompanying notes to financial statements.
103 |
Table of Contents
Statements of Changes in Net Assets (continued)
|
Natixis Sustainable Future
2060 Fund |
||||||||
|
Year Ended
January 31, 2020 |
Year Ended
January 31, 2019 |
|||||||
|
FROM OPERATIONS: |
|
|||||||
|
Net investment income |
$ | 40,507 | $ | 32,033 | ||||
|
Net realized gain on investments and distributions of capital gains received from affiliated investments |
197,433 | 252,606 | ||||||
|
Net change in unrealized appreciation (depreciation) on investments |
147,193 | (403,205 | ) | |||||
|
|
|
|
|
|||||
|
Net increase (decrease) in net assets resulting from operations |
385,133 | (118,566 | ) | |||||
|
|
|
|
|
|||||
|
FROM DISTRIBUTIONS TO SHAREHOLDERS: |
|
|||||||
|
Class N |
(237,210 | ) | (278,299 | ) | ||||
|
|
|
|
|
|||||
|
NET INCREASE IN NET ASSETS FROM CAPITAL SHARE TRANSACTIONS (NOTE 9) |
561,758 | 309,763 | ||||||
|
|
|
|
|
|||||
|
Net increase (decrease) in net assets |
709,681 | (87,102 | ) | |||||
|
NET ASSETS |
|
|||||||
|
Beginning of the year |
2,488,307 | 2,575,409 | ||||||
|
|
|
|
|
|||||
|
End of the year |
$ | 3,197,988 | $ | 2,488,307 | ||||
|
|
|
|
|
|||||
See accompanying notes to financial statements.
| 104
Table of Contents
Financial Highlights
For a share outstanding throughout each period.
| Sustainable Future 2015 Fund—Class N | ||||||||||||
|
Year Ended
January 31, 2020 |
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) |
0.17 | 0.23 | 0.15 | |||||||||
|
Net realized and unrealized gain (loss) |
1.02 | (0.41 | ) | 1.19 | ||||||||
|
|
|
|
|
|
|
|||||||
|
Total from Investment Operations |
1.19 | (0.18 | ) | 1.34 | ||||||||
|
|
|
|
|
|
|
|||||||
|
LESS DISTRIBUTIONS FROM: |
|
|||||||||||
|
Net investment income |
(0.18 | ) | (0.23 | ) | (0.16 | ) | ||||||
|
Net realized capital gains |
(0.42 | ) | (0.61 | ) | (0.05 | ) | ||||||
|
|
|
|
|
|
|
|||||||
|
Total Distributions |
(0.60 | ) | (0.84 | ) | (0.21 | ) | ||||||
|
|
|
|
|
|
|
|||||||
|
Net asset value, end of the period |
$ | 10.70 | $ | 10.11 | $ | 11.13 | ||||||
|
|
|
|
|
|
|
|||||||
|
Total return(b) |
11.81 | % | (1.28 | )% | 13.42 | %(c) | ||||||
|
RATIOS TO AVERAGE NET ASSETS: |
|
|||||||||||
|
Net assets, end of the period (000’s) |
$ | 6,191 | $ | 4,600 | $ | 4,536 | ||||||
|
Net expenses(d) |
0.31 | %(e)(f) | 0.35 | %(g) | 0.38 | %(h)(i) | ||||||
|
Gross expenses |
3.70 | %(e) | 4.04 | %(g) | 3.57 | %(h)(i) | ||||||
|
Net investment income |
1.62 | % | 2.10 | % | 1.49 | %(h) | ||||||
|
Portfolio turnover rate |
73 | % | 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) |
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 0.58% and 3.97%, respectively. |
| (f) |
Effective June 1, 2019, the expense limit decreased from 0.65% to 0.55%. See Note 5 of Notes to Financial Statements. |
| (g) |
Does not include expenses of the underlying funds in which the Fund invests. Had underlying fund expenses been included, the net and gross expense ratios to average net assets would have been 0.65% and 4.34%, respectively. |
| (h) |
Computed on an annualized basis for periods less than one year. |
| (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.
105 |
Table of Contents
Financial Highlights (continued)
For a share outstanding throughout each period.
| Sustainable Future 2020 Fund—Class N | ||||||||||||
|
Year Ended
January 31, 2020 |
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) |
0.17 | 0.22 | 0.14 | |||||||||
|
Net realized and unrealized gain (loss) |
1.06 | (0.46 | ) | 1.39 | ||||||||
|
|
|
|
|
|
|
|||||||
|
Total from Investment Operations |
1.23 | (0.24 | ) | 1.53 | ||||||||
|
|
|
|
|
|
|
|||||||
|
LESS DISTRIBUTIONS FROM: |
|
|||||||||||
|
Net investment income |
(0.18 | ) | (0.23 | ) | (0.15 | ) | ||||||
|
Net realized capital gains |
(0.36 | ) | (0.90 | ) | (0.04 | ) | ||||||
|
|
|
|
|
|
|
|||||||
|
Total Distributions |
(0.54 | ) | (1.13 | ) | (0.19 | ) | ||||||
|
|
|
|
|
|
|
|||||||
|
Net asset value, end of the period |
$ | 10.66 | $ | 9.97 | $ | 11.34 | ||||||
|
|
|
|
|
|
|
|||||||
|
Total return(b) |
12.31 | % | (1.66 | )% | 15.38 | %(c) | ||||||
|
RATIOS TO AVERAGE NET ASSETS: |
|
|||||||||||
|
Net assets, end of the period (000’s) |
$ | 6,006 | $ | 4,540 | $ | 4,617 | ||||||
|
Net expenses(d) |
0.32 | %(e)(f) | 0.38 | %(g) | 0.41 | %(h)(i) | ||||||
|
Gross expenses |
3.69 | %(e) | 4.10 | %(g) | 3.58 | %(h)(i) | ||||||
|
Net investment income |
1.60 | % | 1.98 | % | 1.40 | %(h) | ||||||
|
Portfolio turnover rate |
74 | % | 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) |
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 0.58% and 3.95%, respectively. |
| (f) |
Effective June 1, 2019, the expense limit decreased from 0.65% to 0.55%. See Note 5 of Notes to Financial Statements. |
| (g) |
Does not include expenses of the underlying funds in which the Fund invests. Had underlying fund expenses been included, the net and gross expense ratios to average net assets would have been 0.65% and 4.37%, respectively. |
| (h) |
Computed on an annualized basis for periods less than one year. |
| (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.
| 106
Table of Contents
Financial Highlights (continued)
For a share outstanding throughout each period.
| Sustainable Future 2025 Fund—Class N | ||||||||||||
|
Year Ended
January 31, 2020 |
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) |
0.17 | 0.21 | 0.13 | |||||||||
|
Net realized and unrealized gain (loss) |
1.12 | (0.54 | ) | 1.59 | ||||||||
|
|
|
|
|
|
|
|||||||
|
Total from Investment Operations |
1.29 | (0.33 | ) | 1.72 | ||||||||
|
|
|
|
|
|
|
|||||||
|
LESS DISTRIBUTIONS FROM: |
|
|||||||||||
|
Net investment income |
(0.17 | ) | (0.20 | ) | (0.14 | ) | ||||||
|
Net realized capital gains |
(0.45 | ) | (0.79 | ) | (0.04 | ) | ||||||
|
|
|
|
|
|
|
|||||||
|
Total Distributions |
(0.62 | ) | (0.99 | ) | (0.18 | ) | ||||||
|
|
|
|
|
|
|
|||||||
|
Net asset value, end of the period |
$ | 10.89 | $ | 10.22 | $ | 11.54 | ||||||
|
|
|
|
|
|
|
|||||||
|
Total return(b) |
12.73 | % | (2.46 | )% | 17.31 | %(c) | ||||||
|
RATIOS TO AVERAGE NET ASSETS: |
|
|||||||||||
|
Net assets, end of the period (000’s) |
$ | 6,015 | $ | 3,757 | $ | 3,518 | ||||||
|
Net expenses(d) |
0.34 | %(e)(f) | 0.42 | %(g) | 0.45 | %(h)(i) | ||||||
|
Gross expenses |
4.18 | %(e) | 4.88 | %(g) | 4.41 | %(h)(i) | ||||||
|
Net investment income |
1.59 | % | 1.88 | % | 1.30 | %(h) | ||||||
|
Portfolio turnover rate |
67 | % | 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) |
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 0.59% and 4.43%, respectively. |
| (f) |
Effective June 1, 2019, the expense limit decreased from 0.65% to 0.56%. See Note 5 of Notes to Financial Statements. |
| (g) |
Does not include expenses of the underlying funds in which the Fund invests. Had underlying fund expenses been included, the net and gross expense ratios to average net assets would have been 0.65% and 5.11%, respectively. |
| (h) |
Computed on an annualized basis for periods less than one year. |
| (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.
107 |
Table of Contents
Financial Highlights (continued)
For a share outstanding throughout each period.
| Sustainable Future 2030 Fund—Class N | ||||||||||||
|
Year Ended
January 31, 2020 |
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) |
0.17 | 0.19 | 0.12 | |||||||||
|
Net realized and unrealized gain (loss) |
1.19 | (0.60 | ) | 1.86 | ||||||||
|
|
|
|
|
|
|
|||||||
|
Total from Investment Operations |
1.36 | (0.41 | ) | 1.98 | ||||||||
|
|
|
|
|
|
|
|||||||
|
LESS DISTRIBUTIONS FROM: |
|
|||||||||||
|
Net investment income |
(0.14 | ) | (0.18 | ) | (0.14 | ) | ||||||
|
Net realized capital gains |
(0.46 | ) | (0.81 | ) | (0.05 | ) | ||||||
|
|
|
|
|
|
|
|||||||
|
Total Distributions |
(0.60 | ) | (0.99 | ) | (0.19 | ) | ||||||
|
|
|
|
|
|
|
|||||||
|
Net asset value, end of the period |
$ | 11.15 | $ | 10.39 | $ | 11.79 | ||||||
|
|
|
|
|
|
|
|||||||
|
Total return(b) |
13.12 | % | (2.91 | )% | 19.79 | %(c) | ||||||
|
RATIOS TO AVERAGE NET ASSETS: |
|
|||||||||||
|
Net assets, end of the period (000’s) |
$ | 6,250 | $ | 3,194 | $ | 3,033 | ||||||
|
Net expenses(d) |
0.37 | %(e)(f) | 0.48 | %(g) | 0.50 | %(h)(i) | ||||||
|
Gross expenses |
4.37 | %(e) | 5.34 | %(g) | 5.04 | %(h)(i) | ||||||
|
Net investment income |
1.55 | % | 1.68 | % | 1.22 | %(h) | ||||||
|
Portfolio turnover rate |
80 | % | 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) |
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 0.60% and 4.60%, respectively. |
| (f) |
Effective June 1, 2019, the expense limit decreased from 0.65% to 0.57%. See Note 5 of Notes to Financial Statements. |
| (g) |
Does not include expenses of the underlying funds in which the Fund invests. Had underlying fund expenses been included, the net and gross expense ratios to average net assets would have been 0.65% and 5.51%, respectively. |
| (h) |
Computed on an annualized basis for periods less than one year. |
| (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.
| 108
Table of Contents
Financial Highlights (continued)
For a share outstanding throughout each period.
| Sustainable Future 2035 Fund—Class N | ||||||||||||
|
Year Ended
January 31, 2020 |
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) |
0.16 | 0.17 | 0.11 | |||||||||
|
Net realized and unrealized gain (loss) |
1.33 | (0.67 | ) | 2.08 | ||||||||
|
|
|
|
|
|
|
|||||||
|
Total from Investment Operations |
1.49 | (0.50 | ) | 2.19 | ||||||||
|
|
|
|
|
|
|
|||||||
|
LESS DISTRIBUTIONS FROM: |
|
|||||||||||
|
Net investment income |
(0.17 | ) | (0.17 | ) | (0.13 | ) | ||||||
|
Net realized capital gains |
(0.54 | ) | (0.88 | ) | (0.05 | ) | ||||||
|
|
|
|
|
|
|
|||||||
|
Total Distributions |
(0.71 | ) | (1.05 | ) | (0.18 | ) | ||||||
|
|
|
|
|
|
|
|||||||
|
Net asset value, end of the period |
$ | 11.24 | $ | 10.46 | $ | 12.01 | ||||||
|
|
|
|
|
|
|
|||||||
|
Total return(b) |
14.29 | % | (3.68 | )% | 21.95 | %(c) | ||||||
|
RATIOS TO AVERAGE NET ASSETS: |
|
|||||||||||
|
Net assets, end of the period (000’s) |
$ | 5,566 | $ | 4,099 | $ | 3,112 | ||||||
|
Net expenses(d) |
0.39 | %(e)(f) | 0.52 | %(g) | 0.55 | %(h)(i) | ||||||
|
Gross expenses |
3.95 | %(e) | 5.12 | %(g) | 5.03 | %(h)(i) | ||||||
|
Net investment income |
1.47 | % | 1.52 | % | 1.13 | %(h) | ||||||
|
Portfolio turnover rate |
63 | % | 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) |
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 0.60% and 4.16%, respectively. |
| (f) |
Effective June 1, 2019, the expense limit decreased from 0.65% to 0.58%. See Note 5 of Notes to Financial Statements. |
| (g) |
Does not include expenses of the underlying funds in which the Fund invests. Had underlying fund expenses been included, the net and gross expense ratios to average net assets would have been 0.65% and 5.25%, respectively. |
| (h) |
Computed on an annualized basis for periods less than one year. |
| (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.
109 |
Table of Contents
Financial Highlights (continued)
For a share outstanding throughout each period.
| Sustainable Future 2040 Fund—Class N | ||||||||||||
|
Year Ended
January 31, 2020 |
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) |
0.16 | 0.16 | 0.11 | |||||||||
|
Net realized and unrealized gain (loss) |
1.29 | (0.75 | ) | 2.26 | ||||||||
|
|
|
|
|
|
|
|||||||
|
Total from Investment Operations |
1.45 | (0.59 | ) | 2.37 | ||||||||
|
|
|
|
|
|
|
|||||||
|
LESS DISTRIBUTIONS FROM: |
|
|||||||||||
|
Net investment income |
(0.15 | ) | (0.16 | ) | (0.12 | ) | ||||||
|
Net realized capital gains |
(0.55 | ) | (1.02 | ) | (0.05 | ) | ||||||
|
|
|
|
|
|
|
|||||||
|
Total Distributions |
(0.70 | ) | (1.18 | ) | (0.17 | ) | ||||||
|
|
|
|
|
|
|
|||||||
|
Net asset value, end of the period |
$ | 11.18 | $ | 10.43 | $ | 12.20 | ||||||
|
|
|
|
|
|
|
|||||||
|
Total return(b) |
13.94 | %(c) | (4.19 | )% | 23.80 | %(d) | ||||||
|
RATIOS TO AVERAGE NET ASSETS: |
|
|||||||||||
|
Net assets, end of the period (000’s) |
$ | 5,662 | $ | 3,330 | $ | 3,096 | ||||||
|
Net expenses(e) |
0.39 | %(f)(g) | 0.56 | %(h) | 0.59 | %(i)(j) | ||||||
|
Gross expenses |
4.45 | %(f) | 5.40 | %(h) | 5.04 | %(i)(j) | ||||||
|
Net investment income |
1.50 | % | 1.42 | % | 1.04 | %(i) | ||||||
|
Portfolio turnover rate |
63 | % | 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) |
Generally accepted accounting principles require certain adjustments to be made to the net assets of the Fund for financial reporting purposes only, and as such, the total returns based on the adjusted net asset values per share may differ from the total returns reported in the average annual total return table. |
| (d) |
Periods less than one year are not annualized. |
| (e) |
The investment adviser agreed to waive its fees and/or reimburse a portion of the Fund’s expenses during the period. Without this waiver/reimbursement, expenses would have been higher. |
| (f) |
Does not include expenses of the underlying funds in which the Fund invests. Had underlying fund expenses been included, the net and gross expense ratios to average net assets would have been 0.61% and 4.67%, 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) |
Computed on an annualized basis for periods less than one year. |
| (j) |
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.
| 110
Table of Contents
Financial Highlights (continued)
For a share outstanding throughout each period.
| Sustainable Future 2045 Fund—Class N | ||||||||||||
|
Year Ended
January 31, 2020 |
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) |
0.16 | 0.15 | 0.10 | |||||||||
|
Net realized and unrealized gain (loss) |
1.37 | (0.81 | ) | 2.39 | ||||||||
|
|
|
|
|
|
|
|||||||
|
Total from Investment Operations |
1.53 | (0.66 | ) | 2.49 | ||||||||
|
|
|
|
|
|
|
|||||||
|
LESS DISTRIBUTIONS FROM: |
|
|||||||||||
|
Net investment income |
(0.15 | ) | (0.16 | ) | (0.12 | ) | ||||||
|
Net realized capital gains |
(0.59 | ) | (1.11 | ) | (0.06 | ) | ||||||
|
|
|
|
|
|
|
|||||||
|
Total Distributions |
(0.74 | ) | (1.27 | ) | (0.18 | ) | ||||||
|
|
|
|
|
|
|
|||||||
|
Net asset value, end of the period |
$ | 11.17 | $ | 10.38 | $ | 12.31 | ||||||
|
|
|
|
|
|
|
|||||||
|
Total return(b) |
14.73 | % | (4.53 | )% | 24.92 | %(c) | ||||||
|
RATIOS TO AVERAGE NET ASSETS: |
|
|||||||||||
|
Net assets, end of the period (000’s) |
$ | 4,951 | $ | 2,517 | $ | 2,568 | ||||||
|
Net expenses(d) |
0.40 | %(e)(f) | 0.58 | %(g) | 0.61 | %(h)(i) | ||||||
|
Gross expenses |
5.12 | %(e) | 6.46 | %(g) | 5.97 | %(h)(i) | ||||||
|
Net investment income |
1.45 | % | 1.32 | % | 0.97 | %(h) | ||||||
|
Portfolio turnover rate |
58 | % | 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) |
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 0.61% and 5.33%, respectively. |
| (f) |
Effective June 1, 2019, the expense limit decreased from 0.65% to 0.59%. See Note 5 of Notes to Financial Statements. |
| (g) |
Does not include expenses of the underlying funds in which the Fund invests. Had underlying fund expenses been included, the net and gross expense ratios to average net assets would have been 0.65% and 6.53%, respectively. |
| (h) |
Computed on an annualized basis for periods less than one year. |
| (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.
111 |
Table of Contents
Financial Highlights (continued)
For a share outstanding throughout each period.
| Sustainable Future 2050 Fund—Class N | ||||||||||||
|
Year Ended
January 31, 2020 |
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) |
0.16 | 0.15 | 0.10 | |||||||||
|
Net realized and unrealized gain (loss) |
1.35 | (0.84 | ) | 2.45 | ||||||||
|
|
|
|
|
|
|
|||||||
|
Total from Investment Operations |
1.51 | (0.69 | ) | 2.55 | ||||||||
|
|
|
|
|
|
|
|||||||
|
LESS DISTRIBUTIONS FROM: |
|
|||||||||||
|
Net investment income |
(0.15 | ) | (0.16 | ) | (0.11 | ) | ||||||
|
Net realized capital gains |
(0.62 | ) | (1.12 | ) | (0.06 | ) | ||||||
|
|
|
|
|
|
|
|||||||
|
Total Distributions |
(0.77 | ) | (1.28 | ) | (0.17 | ) | ||||||
|
|
|
|
|
|
|
|||||||
|
Net asset value, end of the period |
$ | 11.15 | $ | 10.41 | $ | 12.38 | ||||||
|
|
|
|
|
|
|
|||||||
|
Total return(b) |
14.57 | %(c) | (4.82 | )% | 25.64 | %(d) | ||||||
|
RATIOS TO AVERAGE NET ASSETS: |
|
|||||||||||
|
Net assets, end of the period (000’s) |
$ | 4,557 | $ | 2,492 | $ | 2,514 | ||||||
|
Net expenses(e) |
0.41 | %(f)(g) | 0.59 | %(h) | 0.62 | %(i)(j) | ||||||
|
Gross expenses |
5.24 | %(f) | 6.42 | %(h) | 6.00 | %(i)(j) | ||||||
|
Net investment income |
1.43 | % | 1.29 | % | 0.94 | %(i) | ||||||
|
Portfolio turnover rate |
75 | % | 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) |
Generally accepted accounting principles require certain adjustments to be made to the net assets of the Fund for financial reporting purposes only, and as such, the total returns based on the adjusted net asset values per share may differ from the total returns reported in the average annual total return table. |
| (d) |
Periods less than one year are not annualized. |
| (e) |
The investment adviser agreed to waive its fees and/or reimburse a portion of the Fund’s expenses during the period. Without this waiver/reimbursement, expenses would have been higher. |
| (f) |
Does not include expenses of the underlying funds in which the Fund invests. Had underlying fund expenses been included, the net and gross expense ratios to average net assets would have been 0.62% and 5.45%, 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) |
Computed on an annualized basis for periods less than one year. |
| (j) |
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.
| 112
Table of Contents
Financial Highlights (continued)
For a share outstanding throughout each period.
| Sustainable Future 2055 Fund—Class N | ||||||||||||
|
Year Ended
January 31, 2020 |
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) |
0.16 | 0.15 | 0.10 | |||||||||
|
Net realized and unrealized gain (loss) |
1.40 | (0.83 | ) | 2.45 | ||||||||
|
|
|
|
|
|
|
|||||||
|
Total from Investment Operations |
1.56 | (0.68 | ) | 2.55 | ||||||||
|
|
|
|
|
|
|
|||||||
|
LESS DISTRIBUTIONS FROM: |
|
|||||||||||
|
Net investment income |
(0.16 | ) | (0.16 | ) | (0.11 | ) | ||||||
|
Net realized capital gains |
(0.72 | ) | (1.11 | ) | (0.06 | ) | ||||||
|
|
|
|
|
|
|
|||||||
|
Total Distributions |
(0.88 | ) | (1.27 | ) | (0.17 | ) | ||||||
|
|
|
|
|
|
|
|||||||
|
Net asset value, end of the period |
$ | 11.11 | $ | 10.43 | $ | 12.38 | ||||||
|
|
|
|
|
|
|
|||||||
|
Total return(b) |
14.93 | % | (4.80 | )% | 25.64 | %(c) | ||||||
|
RATIOS TO AVERAGE NET ASSETS: |
|
|||||||||||
|
Net assets, end of the period (000’s) |
$ | 4,178 | $ | 2,614 | $ | 2,534 | ||||||
|
Net expenses(d) |
0.42 | %(e)(f) | 0.59 | %(g) | 0.62 | %(h)(i) | ||||||
|
Gross expenses |
5.63 | %(e) | 6.44 | %(g) | 5.98 | %(h)(i) | ||||||
|
Net investment income |
1.42 | % | 1.27 | % | 0.94 | %(h) | ||||||
|
Portfolio turnover rate |
64 | % | 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) |
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 5.83%, respectively. |
| (f) |
Effective June 1, 2019, the expense limit decreased from 0.65% to 0.60%. See Note 5 of Notes to Financial Statements. |
| (g) |
Does not include expenses of the underlying funds in which the Fund invests. Had underlying fund expenses been included, the net and gross expense ratios to average net assets would have been 0.65% and 6.50%, respectively. |
| (h) |
Computed on an annualized basis for periods less than one year. |
| (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.
113 |
Table of Contents
Financial Highlights (continued)
For a share outstanding throughout each period.
| Sustainable Future 2060 Fund—Class N | ||||||||||||
|
Year Ended
January 31, 2020 |
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) |
0.16 | 0.15 | 0.10 | |||||||||
|
Net realized and unrealized gain (loss) |
1.38 | (0.82 | ) | 2.45 | ||||||||
|
|
|
|
|
|
|
|||||||
|
Total from Investment Operations |
1.54 | (0.67 | ) | 2.55 | ||||||||
|
|
|
|
|
|
|
|||||||
|
LESS DISTRIBUTIONS FROM: |
|
|||||||||||
|
Net investment income |
(0.17 | ) | (0.16 | ) | (0.11 | ) | ||||||
|
Net realized capital gains |
(0.74 | ) | (1.15 | ) | (0.06 | ) | ||||||
|
|
|
|
|
|
|
|||||||
|
Total Distributions |
(0.91 | ) | (1.31 | ) | (0.17 | ) | ||||||
|
|
|
|
|
|
|
|||||||
|
Net asset value, end of the period |
$ | 11.03 | $ | 10.40 | $ | 12.38 | ||||||
|
|
|
|
|
|
|
|||||||
|
Total return(b) |
14.78 | % | (4.56 | )% | 25.59 | %(c) | ||||||
|
RATIOS TO AVERAGE NET ASSETS: |
|
|||||||||||
|
Net assets, end of the period (000’s) |
$ | 3,198 | $ | 2,488 | $ | 2,575 | ||||||
|
Net expenses(d) |
0.42 | %(e)(f) | 0.59 | %(g) | 0.62 | %(h)(i) | ||||||
|
Gross expenses |
6.03 | %(e) | 6.45 | %(g) | 5.97 | %(h)(i) | ||||||
|
Net investment income |
1.45 | % | 1.29 | % | 0.94 | %(h) | ||||||
|
Portfolio turnover rate |
64 | % | 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) |
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 6.23%, respectively. |
| (f) |
Effective June 1, 2019, the expense limit decreased from 0.65% to 0.60%. See Note 5 of Notes to Financial Statements. |
| (g) |
Does not include expenses of the underlying funds in which the Fund invests. Had underlying fund expenses been included, the net and gross expense ratios to average net assets would have been 0.65% and 6.51%, respectively. |
| (h) |
Computed on an annualized basis for periods less than one year. |
| (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.
| 114
Table of Contents
January 31, 2020
1. Organization. Natixis Funds Trust IV (the “Trust”) is organized as a Massachusetts business trust. The Trust is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as an open-end management investment company. The Declaration of Trust permits the Board of Trustees to authorize the issuance of an unlimited number of shares of the Trust in multiple series. The financial statements for certain funds of the Trust are presented in separate reports. The following funds (individually, a “Fund” and collectively, the “Funds”) are included in this report:
Natixis Funds Trust IV:
Natixis Sustainable Future 2015 Fund (the “Sustainable Future 2015 Fund”)
Natixis Sustainable Future 2020 Fund (the “Sustainable Future 2020 Fund”)
Natixis Sustainable Future 2025 Fund (the “Sustainable Future 2025 Fund”)
Natixis Sustainable Future 2030 Fund (the “Sustainable Future 2030 Fund”)
Natixis Sustainable Future 2035 Fund (the “Sustainable Future 2035 Fund”)
Natixis Sustainable Future 2040 Fund (the “Sustainable Future 2040 Fund”)
Natixis Sustainable Future 2045 Fund (the “Sustainable Future 2045 Fund”)
Natixis Sustainable Future 2050 Fund (the “Sustainable Future 2050 Fund”)
Natixis Sustainable Future 2055 Fund (the “Sustainable Future 2055 Fund”)
Natixis Sustainable Future 2060 Fund (the “Sustainable Future 2060 Fund”)
Each Fund is a diversified investment company.
Each Fund offers Class N shares. Class N shares do not pay a front-end sales charge, a contingent deferred sales charge or Rule 12b-1 fees. Class N shares are offered with an initial minimum investment of $1,000,000. Certain categories of investors are exempted from the minimum investment amounts for Class N as outlined in the Funds’ prospectus.
Most expenses can be directly attributed to a Fund. Expenses which cannot be directly attributed to a Fund are generally apportioned based on the relative net assets of each of the funds in Natixis Funds Trust I, Natixis Funds Trust II, Natixis Funds Trust IV and Gateway Trust (“Natixis Funds Trusts”), Loomis Sayles Funds I and Loomis Sayles Funds II (“Loomis Sayles Funds Trusts”) and Natixis ETF Trust.
2. Significant Accounting Policies. The following is a summary of significant accounting policies consistently followed by each Fund in the preparation of its financial statements. The Funds’ financial statements follow the accounting and reporting guidelines provided for investment companies and are prepared in accordance with accounting principles generally accepted in the United States of America which require the use of management estimates that affect the reported amounts and disclosures in the financial statements. Actual results could differ from those estimates. Management has evaluated the events and transactions subsequent to year-end through the date the financial statements were issued and has determined that there were no material events that would require disclosure in the Funds’ financial statements.
a. Valuation. Fund securities and other investments are valued at market value based on market quotations obtained or determined by independent pricing services recommended by the adviser or sub-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 or sub-adviser pursuant to procedures approved by the Board of Trustees, as described below. Market value is determined as follows:
Listed equity securities (including shares of closed-end investment companies and exchange-traded funds) are valued at the last sale price quoted on the exchange where they are traded most extensively or, if there is no reported sale during the day, the closing bid quotation as reported by an independent pricing service. Securities traded on the NASDAQ Global Select Market, NASDAQ Global Market and NASDAQ Capital Market are valued at the NASDAQ Official Closing Price (“NOCP”), or if lacking an NOCP, at the most recent bid quotations on the applicable NASDAQ Market. Unlisted equity securities (except unlisted preferred equity securities) are valued at the last sale price quoted in the market where they are traded most extensively or, if there is no reported sale during the day, the closing bid quotation as reported by an independent pricing service. If there is no last sale price or closing bid quotation available, unlisted equity securities will be valued using evaluated bids furnished by an independent pricing service, if available. In some foreign markets, an official close price and a last sale price may be available from the foreign exchange or market. In those cases, the official close price is used. Debt securities and unlisted preferred equity securities are valued based on evaluated bids furnished to the Fund by an independent pricing service or bid prices obtained from broker-dealers. Broker-dealer bid prices may be used to value debt and unlisted equity securities where an independent pricing service is unable to price a security or where an independent pricing service does not provide a reliable price for the security. 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 investments at fair value in other circumstances such as when extraordinary events occur after the close of a foreign market but prior
115 |
Table of Contents
Notes to Financial Statements (continued)
January 31, 2020
to the close of the New York Stock Exchange. This may include situations relating to a single issuer (such as a declaration of bankruptcy or a delisting of the issuer’s security from the primary market on which it has traded) as well as events affecting the securities markets in general (such as market disruptions or closings and significant fluctuations in U.S. and/or foreign markets). When fair valuing its securities or other investments, the Funds may, among other things, use modeling tools or other processes that may take into account factors such as securities or other market activity and/or significant events that occur after the close of the foreign market and before the time the Fund’s net asset value (“NAV”) is calculated. Fair value pricing may require subjective determinations about the value of a security, and fair values used to determine a Fund’s NAV may differ from quoted or published prices, or from prices that are used by others, for the same securities. In addition, the use of fair value pricing may not always result in adjustments to the prices of securities held by a Fund.
b. Investment Transactions and Related Investment Income. Investment transactions are accounted for on a trade date plus one day basis for daily NAV calculation. However, for financial reporting purposes, investment transactions are reported on the trade date. Dividend income (including income reinvested) and foreign withholding tax, if applicable, is recorded on the ex-dividend date, or in the case of certain foreign securities, as soon as a Fund is notified, and interest income is recorded on an accrual basis. Interest income is increased by the accretion of discount and decreased by the amortization of premium, if applicable. Distributions received from investments in securities that represent a return of capital or capital gain are recorded as a reduction of cost of investments or as a realized gain, respectively. In determining net gain or loss on securities sold, the cost of securities has been determined on an identified cost basis.
c. Foreign Currency Translation. The books and records of the Funds are maintained in U.S. dollars. The values of securities, currencies and other assets and liabilities denominated in currencies other than U.S. dollars, 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 January 31, 2020 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 twelve months that would result in the amounts of any unrecognized tax benefits significantly increasing or decreasing for the Funds. However, management’s conclusions regarding tax positions taken may be subject to review and adjustment at a later date based on factors including, but not limited to, new tax laws and accounting regulations and interpretations thereof.
A Fund may be subject to foreign withholding taxes on investment income and taxes on capital gains on investments that are accrued and paid based upon the Fund’s understanding of the tax rules and regulations that exist in the countries in which the Fund invests. Foreign withholding taxes on dividend and interest income are reflected on the Statements of Operations as a reduction of investment income, net of amounts eligible to be reclaimed. Dividends and interest receivable on the Statements of Assets and Liabilities are net of foreign withholding taxes. Foreign withholding taxes where reclaims have been or will be filed are reflected on the Statements of Assets and Liabilities as tax reclaims receivable. Capital gains taxes paid are included in net realized gain (loss) on investments in the Statements of Operations. Accrued but unpaid capital gains taxes are reflected as foreign taxes payable on the Statements of Assets
| 116
Table of Contents
Notes to Financial Statements (continued)
January 31, 2020
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 the ex-dividend date. The timing and characterization of certain income and capital gain distributions are determined in accordance with federal tax regulations, which may differ from accounting principles generally accepted in the United States of America. Permanent differences are primarily due to differing treatments for book and tax purposes of items such as paydown gains and losses, premium amortization, distribution re-designations and distributions received from underlying funds. 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 premium amortization. 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 years ended January 31, 2020 and 2019 were as follows:
| 2020 Distributions Paid From: | 2019 Distributions Paid From: | |||||||||||||||||||||||
|
Fund |
Ordinary
|
Long-Term
|
Total |
Ordinary
|
Long-Term
|
Total |
||||||||||||||||||
|
Sustainable Future 2015 Fund |
$ | 156,559 | $ | 165,576 | $ | 322,135 | $ | 160,754 | $ | 194,753 | $ | 355,507 | ||||||||||||
|
Sustainable Future 2020 Fund |
177,667 | 107,387 | 285,054 | 166,032 | 299,406 | 465,438 | ||||||||||||||||||
|
Sustainable Future 2025 Fund |
150,416 | 135,307 | 285,723 | 116,622 | 212,638 | 329,260 | ||||||||||||||||||
|
Sustainable Future 2030 Fund |
157,746 | 140,118 | 297,864 | 87,034 | 207,921 | 294,955 | ||||||||||||||||||
|
Sustainable Future 2035 Fund |
186,903 | 131,147 | 318,050 | 84,598 | 244,719 | 329,317 | ||||||||||||||||||
|
Sustainable Future 2040 Fund |
147,146 | 153,541 | 300,687 | 81,843 | 254,457 | 336,300 | ||||||||||||||||||
|
Sustainable Future 2045 Fund |
99,913 | 153,981 | 253,894 | 60,325 | 211,180 | 271,505 | ||||||||||||||||||
|
Sustainable Future 2050 Fund |
112,587 | 151,484 | 264,071 | 60,040 | 212,283 | 272,323 | ||||||||||||||||||
|
Sustainable Future 2055 Fund |
104,280 | 149,757 | 254,037 | 59,287 | 215,175 | 274,462 | ||||||||||||||||||
|
Sustainable Future 2060 Fund |
81,555 | 155,655 | 237,210 | 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 in per-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, 2020, the components of distributable earnings on a tax basis were as follows:
|
Sustainable
|
Sustainable
|
Sustainable
|
Sustainable
|
Sustainable
|
||||||||||||||||
|
Undistributed ordinary income |
$ | 39,609 | $ | 42,298 | $ | 38,436 | $ | 78,838 | $ | 52,821 | ||||||||||
|
Undistributed long-term capital gains |
24,131 | 26,659 | 18,392 | 31,355 | 20,370 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
Total undistributed earnings |
63,740 | 68,957 | 56,828 | 110,193 | 73,191 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
Unrealized appreciation |
246,829 | 262,421 | 237,951 | 252,822 | 318,204 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
Total accumulated earnings |
$ | 310,569 | $ | 331,378 | $ | 294,779 | $ | 363,015 | $ | 391,395 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
Sustainable
|
Sustainable
|
Sustainable
|
Sustainable
|
Sustainable
|
||||||||||||||||
|
Undistributed ordinary income |
$ | 58,199 | $ | 48,047 | $ | 67,746 | $ | 41,142 | $ | 34,386 | ||||||||||
|
Undistributed long-term capital gains |
22,983 | 14,906 | 19,517 | 8,033 | 6,119 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
Total undistributed earnings |
81,182 | 62,953 | 87,263 | 49,175 | 40,505 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
Unrealized appreciation |
306,548 | 218,378 | 216,938 | 197,639 | 204,956 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
Total accumulated earnings |
$ | 387,730 | $ | 281,331 | $ | 304,201 | $ | 246,814 | $ | 245,461 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
117 |
Table of Contents
Notes to Financial Statements (continued)
January 31, 2020
As of January 31, 2020, the tax cost of investments and unrealized appreciation (depreciation) on a federal tax basis were as follows:
|
Sustainable
|
Sustainable
|
Sustainable
|
Sustainable
|
Sustainable
|
||||||||||||||||
|
Federal tax cost |
$ | 5,840,204 | $ | 5,632,251 | $ | 5,710,572 | $ | 5,923,746 | $ | 5,245,633 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
Gross tax appreciation |
$ | 308,882 | $ | 333,549 | $ | 317,161 | $ | 330,574 | $ | 421,243 | ||||||||||
|
Gross tax depreciation |
(62,053 | ) | (71,128 | ) | (79,210 | ) | (77,752 | ) | (103,039 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
Net tax appreciation |
$ | 246,829 | $ | 262,421 | $ | 237,951 | $ | 252,822 | $ | 318,204 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
Sustainable
|
Sustainable
|
Sustainable
|
Sustainable
|
Sustainable
|
||||||||||||||||
|
Federal tax cost |
$ | 5,335,495 | $ | 4,714,693 | $ | 4,298,076 | $ | 3,957,889 | $ | 3,034,791 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
Gross tax appreciation |
$ | 399,937 | $ | 311,547 | $ | 299,333 | $ | 281,519 | $ | 275,467 | ||||||||||
|
Gross tax depreciation |
(93,389 | ) | (93,169 | ) | (82,395 | ) | (83,880 | ) | (70,511 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
Net tax appreciation |
$ | 306,548 | $ | 218,378 | $ | 216,938 | $ | 197,639 | $ | 204,956 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
f. Indemnifications. Under the Trust’s organizational documents, its officers and Trustees are indemnified against certain liabilities arising out of the performance of their duties to the Funds. Additionally, in the normal course of business, the Funds enter into contracts with service providers that contain general indemnification clauses. The Funds’ maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Funds that have not yet occurred. However, based on experience, the Funds expect the risk of loss to be remote.
g. New Accounting Pronouncement. In August 2018, the Financial Accounting Standards Board issued Accounting Standards Update 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework — Changes to the Disclosure Requirements for Fair Value Measurement (“ASU 2018-13”). The update introduces new fair value disclosure requirements, eliminates some prior fair value disclosure requirements, and modifies certain existing fair value disclosure requirements. ASU 2018-13 will be effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Management has evaluated the impact of the adoption of ASU 2018-13 and will incorporate required disclosure updates in the Funds’ semiannual financial statements as of July 31, 2020.
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.
| 118
Table of Contents
Notes to Financial Statements (continued)
January 31, 2020
The following is a summary of the inputs used to value the Funds’ investments as of January 31, 2020, at value:
Sustainable Future 2015 Fund
Asset Valuation Inputs
|
Description |
Level 1 |
Level 2 |
Level 3 |
Total |
||||||||||||
|
Common Stocks(a) |
$ | 1,884,966 | $ | — | $ | — | $ | 1,884,966 | ||||||||
|
Bonds and Notes(a) |
— | 1,178,312 | — | 1,178,312 | ||||||||||||
|
Exchange-Traded Funds |
360,896 | — | — | 360,896 | ||||||||||||
|
Affiliated Mutual Funds |
2,662,859 | — | — | 2,662,859 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Total |
$ | 4,908,721 | $ | 1,178,312 | $ | — | $ | 6,087,033 | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (a) |
Details of the major categories of the Fund’s investments are reflected within the Portfolio of Investments. |
For the year ended January 31, 2020, there were no transfers among Levels 1, 2 and 3.
Sustainable Future 2020 Fund
Asset Valuation Inputs
|
Description |
Level 1 |
Level 2 |
Level 3 |
Total |
||||||||||||
|
Common Stocks(a) |
$ | 2,062,069 | $ | — | $ | — | $ | 2,062,069 | ||||||||
|
Bonds and Notes(a) |
— | 1,109,481 | — | 1,109,481 | ||||||||||||
|
Exchange-Traded Funds |
463,392 | — | — | 463,392 | ||||||||||||
|
Affiliated Mutual Funds |
2,259,730 | — | — | 2,259,730 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Total |
$ | 4,785,191 | $ | 1,109,481 | $ | — | $ | 5,894,672 | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (a) |
Details of the major categories of the Fund’s investments are reflected within the Portfolio of Investments. |
For the year ended January 31, 2020, there were no transfers among Levels 1, 2 and 3.
Sustainable Future 2025 Fund
Asset Valuation Inputs
|
Description |
Level 1 |
Level 2 |
Level 3 |
Total |
||||||||||||
|
Common Stocks(a) |
$ | 2,431,463 | $ | — | $ | — | $ | 2,431,463 | ||||||||
|
Bonds and Notes(a) |
— | 956,804 | — | 956,804 | ||||||||||||
|
Exchange-Traded Funds |
605,635 | — | — | 605,635 | ||||||||||||
|
Affiliated Mutual Funds |
1,954,621 | — | — | 1,954,621 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Total |
$ | 4,991,719 | $ | 956,804 | $ | — | $ | 5,948,523 | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (a) |
Details of the major categories of the Fund’s investments are reflected within the Portfolio of Investments. |
For the year ended January 31, 2020, 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) |
$ | 2,712,061 | $ | — | $ | — | $ | 2,712,061 | ||||||||
|
Bonds and Notes(a) |
— | 880,971 | — | 880,971 | ||||||||||||
|
Exchange-Traded Funds |
662,821 | — | — | 662,821 | ||||||||||||
|
Affiliated Mutual Funds |
1,920,715 | — | — | 1,920,715 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Total |
$ | 5,295,597 | $ | 880,971 | $ | — | $ | 6,176,568 | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (a) |
Details of the major categories of the Fund’s investments are reflected within the Portfolio of Investments. |
119 |
Table of Contents
Notes to Financial Statements (continued)
January 31, 2020
For the year ended January 31, 2020, 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) |
$ | 2,966,352 | $ | — | $ | — | $ | 2,966,352 | ||||||||
|
Bonds and Notes(a) |
— | 497,930 | — | 497,930 | ||||||||||||
|
Exchange-Traded Funds |
704,404 | — | — | 704,404 | ||||||||||||
|
Affiliated Mutual Funds |
1,395,151 | — | — | 1,395,151 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Total |
$ | 5,065,907 | $ | 497,930 | $ | — | $ | 5,563,837 | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (a) |
Details of the major categories of the Fund’s investments are reflected within the Portfolio of Investments. |
For the year ended January 31, 2020, there were no transfers among Levels 1, 2 and 3.
Sustainable Future 2040 Fund
Asset Valuation Inputs
|
Description |
Level 1 |
Level 2 |
Level 3 |
Total |
||||||||||||
|
Common Stocks(a) |
$ | 3,194,332 | $ | — | $ | — | $ | 3,194,332 | ||||||||
|
Bonds and Notes(a) |
— | 273,928 | — | 273,928 | ||||||||||||
|
Exchange-Traded Funds |
794,214 | — | — | 794,214 | ||||||||||||
|
Affiliated Mutual Funds |
1,379,569 | — | — | 1,379,569 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Total |
$ | 5,368,115 | $ | 273,928 | $ | — | $ | 5,642,043 | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (a) |
Details of the major categories of the Fund’s investments are reflected within the Portfolio of Investments. |
For the year ended January 31, 2020, 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) |
$ | 2,890,712 | $ | — | $ | — | $ | 2,890,712 | ||||||||
|
Bonds and Notes(a) |
— | 202,437 | — | 202,437 | ||||||||||||
|
Exchange-Traded Funds |
766,218 | — | — | 766,218 | ||||||||||||
|
Affiliated Mutual Funds |
1,073,704 | — | — | 1,073,704 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Total |
$ | 4,730,634 | $ | 202,437 | $ | — | $ | 4,933,071 | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (a) |
Details of the major categories of the Fund’s investments are reflected within the Portfolio of Investments. |
For the year ended January 31, 2020, there were no transfers among Levels 1, 2 and 3.
Sustainable Future 2050 Fund
Asset Valuation Inputs
|
Description |
Level 1 |
Level 2 |
Level 3 |
Total |
||||||||||||
|
Common Stocks(a) |
$ | 2,756,100 | $ | — | $ | — | $ | 2,756,100 | ||||||||
|
Bonds and Notes(a) |
— | 178,479 | — | 178,479 | ||||||||||||
|
Exchange-Traded Funds |
683,937 | — | — | 683,937 | ||||||||||||
|
Affiliated Mutual Funds |
896,498 | — | — | 896,498 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Total |
$ | 4,336,535 | $ | 178,479 | $ | — | $ | 4,515,014 | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (a) |
Details of the major categories of the Fund’s investments are reflected within the Portfolio of Investments. |
| 120
Table of Contents
Notes to Financial Statements (continued)
January 31, 2020
For the year ended January 31, 2020, 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) |
$ | 2,510,136 | $ | — | $ | — | $ | 2,510,136 | ||||||||
|
Bonds and Notes(a) |
— | 168,126 | — | 168,126 | ||||||||||||
|
Exchange-Traded Funds |
703,017 | — | — | 703,017 | ||||||||||||
|
Affiliated Mutual Funds |
774,249 | — | — | 774,249 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Total |
$ | 3,987,402 | $ | 168,126 | $ | — | $ | 4,155,528 | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (a) |
Details of the major categories of the Fund’s investments are reflected within the Portfolio of Investments. |
For the year ended January 31, 2020, there were no transfers among Levels 1, 2 and 3.
Sustainable Future 2060 Fund
Asset Valuation Inputs
|
Description |
Level 1 |
Level 2 |
Level 3 |
Total |
||||||||||||
|
Common Stocks(a) |
$ | 1,980,949 | $ | — | $ | — | $ | 1,980,949 | ||||||||
|
Bonds and Notes(a) |
— | 127,250 | — | 127,250 | ||||||||||||
|
Exchange-Traded Funds |
536,351 | — | — | 536,351 | ||||||||||||
|
Affiliated Mutual Funds |
595,197 | — | — | 595,197 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Total |
$ | 3,112,497 | $ | 127,250 | $ | — | $ | 3,239,747 | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (a) |
Details of the major categories of the Fund’s investments are reflected within the Portfolio of Investments. |
For the year ended January 31, 2020, there were no transfers among Levels 1, 2 and 3.
4. Purchases and Sales of Securities. For the year ended January 31, 2020, purchases and sales of securities (excluding short-term investments and including paydowns) were as follows:
|
U.S. Government/Agency
Securities |
Other Securities | |||||||||||||||
|
Fund |
Purchases |
Sales |
Purchases |
Sales |
||||||||||||
|
Sustainable Future 2015 Fund |
$ | 868,425 | $ | 337,431 | $ | 3,942,535 | $ | 3,354,553 | ||||||||
|
Sustainable Future 2020 Fund |
827,048 | 334,738 | 3,871,253 | 3,400,573 | ||||||||||||
|
Sustainable Future 2025 Fund |
654,122 | 226,063 | 4,322,756 | 2,737,898 | ||||||||||||
|
Sustainable Future 2030 Fund |
623,449 | 218,518 | 5,233,422 | 3,211,625 | ||||||||||||
|
Sustainable Future 2035 Fund |
359,557 | 136,736 | 3,692,415 | 2,842,100 | ||||||||||||
|
Sustainable Future 2040 Fund |
197,301 | 71,549 | 4,525,081 | 2,565,145 | ||||||||||||
|
Sustainable Future 2045 Fund |
135,596 | 46,300 | 3,975,267 | 1,940,210 | ||||||||||||
|
Sustainable Future 2050 Fund |
127,166 | 52,328 | 4,315,015 | 2,490,013 | ||||||||||||
|
Sustainable Future 2055 Fund |
111,847 | 42,923 | 3,332,634 | 1,914,543 | ||||||||||||
|
Sustainable Future 2060 Fund |
97,833 | 37,954 | 2,174,557 | 1,730,186 | ||||||||||||
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, LLC (“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.
121 |
Table of Contents
Notes to Financial Statements (continued)
January 31, 2020
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 the sub-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.
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 as sub-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 as sub-adviser; (viii) 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 as sub-adviser; and (ix) 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 as sub-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 any sub-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) as sub-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 as sub-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 any sub-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 the sub-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.
| 122
Table of Contents
Notes to Financial Statements (continued)
January 31, 2020
For the period June 1, 2019 to January 31, 2020, 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
|
|||
|
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 | % | ||
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 year ended January 31, 2020, the management fees and waivers of management fees for each Fund were as follows:
|
Fund |
Gross
|
Contractual
|
Voluntary
Waivers of
|
Net
|
Percentage
of Average Daily Net Assets |
|||||||||||||||||||
|
Gross |
Net |
|||||||||||||||||||||||
|
Sustainable Future 2015 Fund |
$ | 38,883 | $ | 1,153 | $ | 757 | $ | 36,973 | 0.76 | % | 0.72 | % | ||||||||||||
|
Sustainable Future 2020 Fund |
40,106 | 1,274 | 992 | 37,840 | 0.78 | % | 0.74 | % | ||||||||||||||||
|
Sustainable Future 2025 Fund |
35,216 | 1,225 | 1,060 | 32,931 | 0.79 | % | 0.74 | % | ||||||||||||||||
|
Sustainable Future 2030 Fund |
34,781 | 1,449 | 1,123 | 32,209 | 0.80 | % | 0.74 | % | ||||||||||||||||
|
Sustainable Future 2035 Fund |
40,214 | 1,828 | 1,386 | 37,000 | 0.83 | % | 0.76 | % | ||||||||||||||||
|
Sustainable Future 2040 Fund |
35,267 | 1,658 | 1,409 | 32,200 | 0.83 | % | 0.76 | % | ||||||||||||||||
|
Sustainable Future 2045 Fund |
29,059 | 1,401 | 1,189 | 26,469 | 0.84 | % | 0.76 | % | ||||||||||||||||
|
Sustainable Future 2050 Fund |
29,528 | 1,382 | 1,329 | 26,817 | 0.85 | % | 0.77 | % | ||||||||||||||||
|
Sustainable Future 2055 Fund |
26,360 | 1,241 | 1,183 | 23,936 | 0.85 | % | 0.77 | % | ||||||||||||||||
|
Sustainable Future 2060 Fund |
23,911 | 1,127 | 1,066 | 21,718 | 0.85 | % | 0.78 | % | ||||||||||||||||
| 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 year ended January 31, 2020, expenses, including fees paid to the sub-advisers, have been reimbursed as follows:
|
Fund |
Reimbursement3 |
|||
|
Sustainable Future 2015 Fund |
$ | 171,166 | ||
|
Sustainable Future 2020 Fund |
171,209 | |||
|
Sustainable Future 2025 Fund |
167,974 | |||
|
Sustainable Future 2030 Fund |
171,315 | |||
|
Sustainable Future 2035 Fund |
168,701 | |||
|
Sustainable Future 2040 Fund |
169,381 | |||
|
Sustainable Future 2045 Fund |
161,269 | |||
|
Sustainable Future 2050 Fund |
166,029 | |||
|
Sustainable Future 2055 Fund |
159,061 | |||
|
Sustainable Future 2060 Fund |
155,042 | |||
| 3 |
Contractual expense reimbursements are subject to possible recovery until January 31, 2021. |
No expenses were recovered during the year ended January 31, 2020 under the terms of the expense limitation agreement.
123 |
Table of Contents
Notes to Financial Statements (continued)
January 31, 2020
b. Service and Distribution Fees. Natixis Distribution, L.P. (“Natixis Distribution”), which is a wholly-owned subsidiary of Natixis, has entered into a distribution agreement with the Trust. Pursuant to this agreement, Natixis Distribution serves as principal underwriter of the Funds of the Trust. Natixis Distribution currently is not paid a fee for serving as distributor for the Funds.
c. Administrative Fees. Natixis Advisors provides certain administrative services for the Funds and contracts with State Street Bank and Trust Company (“State Street Bank”) to serve as sub-administrator. Pursuant to an agreement among Natixis Funds Trusts, Loomis Sayles Funds Trusts, Natixis ETF Trust and Natixis Advisors, effective July 1, 2019, each Fund pays Natixis Advisors monthly its pro 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 its pro rata portion of fees equal to an annual rate of 0.0575% of the first $15 billion of the average daily net assets of the Natixis Funds Trusts, Loomis Sayles Funds Trusts and Natixis ETF Trust, 0.0500% of the next $15 billion, 0.0400% of the next $30 billion, 0.0275% of the next $30 billion and 0.0225% of such assets in excess of $90 billion, subject to an annual aggregate minimum fee for the Natixis Funds Trusts, Loomis Sayles Funds Trusts and Natixis ETF Trust of $10 million.
Effective October 1, 2018, State Street Bank agreed to reduce the fees it receives from Natixis Advisors for serving as sub-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 in sub-administrative fees discussed above. The waiver was in effect through June 30, 2019.
For the year ended January 31, 2020, the administrative fees for each Fund were as follows:
|
Fund |
Gross Administrative Fees |
Waiver of
|
Net
|
|||||||||
|
Sustainable Future 2015 Fund |
$ | 2,243 | $ | 20 | $ | 2,223 | ||||||
|
Sustainable Future 2020 Fund |
2,260 | 20 | 2,240 | |||||||||
|
Sustainable Future 2025 Fund |
1,948 | 17 | 1,931 | |||||||||
|
Sustainable Future 2030 Fund |
1,906 | 14 | 1,892 | |||||||||
|
Sustainable Future 2035 Fund |
2,124 | 19 | 2,105 | |||||||||
|
Sustainable Future 2040 Fund |
1,865 | 15 | 1,850 | |||||||||
|
Sustainable Future 2045 Fund |
1,523 | 12 | 1,511 | |||||||||
|
Sustainable Future 2050 Fund |
1,531 | 12 | 1,519 | |||||||||
|
Sustainable Future 2055 Fund |
1,360 | 12 | 1,348 | |||||||||
|
Sustainable Future 2060 Fund |
1,230 | 11 | 1,219 | |||||||||
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 $369,000. 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 $199,000. 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 $20,000. 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.
Prior to January 1, 2020, the Chairperson of the Board received a retainer fee at the annual rate of $360,000 and each Independent Trustee (other than the Chairperson) received, in the aggregate, a retainer fee at the annual rate of $190,000, and the chairperson of the Governance Committee received an additional retainer fee at the annual rate of $15,000. All other Trustee fees remained unchanged.
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
| 124
Table of Contents
Notes to Financial Statements (continued)
January 31, 2020
Funds Trusts and Natixis ETF Trust as designated by the participating Trustees. Changes in the value of participants’ deferral accounts are allocated pro rata among the funds in the Natixis Funds Trusts, Loomis Sayles Funds Trusts and Natixis ETF Trust, and are normally reflected as Trustees’ fees and expenses in the Statements of Operations. The portions of the accrued obligations allocated to the Funds under the Plan are reflected as Deferred Trustees’ fees in the Statements of Assets and Liabilities.
Certain officers and employees of Natixis Advisors and its affiliates are also officers and/or Trustees of the Trust.
e. Affiliated Ownership. As of January 31, 2020, the percentage of each Fund’s net assets owned by Natixis and affiliates is as follows:
|
Percentage of
|
||||
|
Natixis Sustainable Future 2015 Fund |
97.68 | % | ||
|
Natixis Sustainable Future 2020 Fund |
84.87 | % | ||
|
Natixis Sustainable Future 2025 Fund |
64.33 | % | ||
|
Natixis Sustainable Future 2030 Fund |
52.63 | % | ||
|
Natixis Sustainable Future 2035 Fund |
60.30 | % | ||
|
Natixis Sustainable Future 2040 Fund |
59.73 | % | ||
|
Natixis Sustainable Future 2045 Fund |
55.27 | % | ||
|
Natixis Sustainable Future 2050 Fund |
60.14 | % | ||
|
Natixis Sustainable Future 2055 Fund |
65.81 | % | ||
|
Natixis Sustainable Future 2060 Fund |
86.05 | % | ||
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 year ended January 31, 2020, is as follows:
Sustainable Future 2015 Fund
|
Fund |
Beginning
|
Purchase
|
Sales
|
Realized
|
Change in
|
Ending
|
Distribution
|
|||||||||||||||||||||
|
Loomis Sayles Inflation Protected Securities Fund, Class N |
$ | 556,731 | $ | 445,650 | $ | 231,100 | $ | (1,140 | ) | $ | 44,653 | $ | 814,794 | $ | 12,542 | |||||||||||||
|
Loomis Sayles Limited Term Government and Agency Fund, Class N |
552,848 | 351,016 | 198,494 | (1,984 | ) | 11,795 | 715,181 | 13,654 | ||||||||||||||||||||
|
Mirova Global Green Bond Fund, Class N |
1,299,531 | 213,309 | 887,847 | 11,941 | 47,216 | 684,150 | 17,764 | |||||||||||||||||||||
|
Mirova International Sustainable Equity Fund, Class N |
164,481 | 413,695 | 176,194 | 20,474 | 26,278 | 448,734 | 5,839 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
| $ | 2,573,591 | $ | 1,423,670 | $ | 1,493,635 | $ | 29,291 | $ | 129,942 | $ | 2,662,859 | $ | 49,799 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
| (1) |
Purchase cost includes dividend reinvested, if any. |
| (2) |
Distributions received includes distributions from net investment income and from capital gains, if any. |
125 |
Table of Contents
Notes to Financial Statements (continued)
January 31, 2020
Sustainable Future 2020 Fund
|
Fund |
Beginning
|
Purchase
|
Sales
|
Realized
|
Change in
|
Ending
|
Distribution
|
|||||||||||||||||||||
|
Loomis Sayles Inflation Protected Securities Fund, Class N |
$ | 319,741 | $ | 315,347 | $ | 142,264 | $ | (714 | ) | $ | 26,545 | $ | 518,655 | $ | 7,500 | |||||||||||||
|
Loomis Sayles Limited Term Government and Agency Fund, Class N |
498,471 | 289,139 | 180,977 | (1,653 | ) | 10,304 | 615,284 | 12,092 | ||||||||||||||||||||
|
Mirova Global Green Bond Fund, Class N |
1,232,393 | 190,702 | 864,746 | 12,137 | 45,089 | 615,575 | 17,054 | |||||||||||||||||||||
|
Mirova International Sustainable Equity Fund, Class N |
184,465 | 484,129 | 214,318 | 24,549 | 31,391 | 510,216 | 6,684 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
| $ | 2,235,070 | $ | 1,279,317 | $ | 1,402,305 | $ | 34,319 | $ | 113,329 | $ | 2,259,730 | $ | 43,330 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
| (1) |
Purchase cost includes dividend reinvested, if any. |
| (2) |
Distributions received includes distributions from net investment income and from capital gains, if any. |
Sustainable Future 2025 Fund
|
Fund |
Beginning
|
Purchase
|
Sales
|
Realized
|
Change in
|
Ending
|
Distribution
|
|||||||||||||||||||||
|
Loomis Sayles Inflation Protected Securities Fund, Class N |
$ | 193,399 | $ | 205,573 | $ | 93,550 | $ | 125 | $ | 16,616 | $ | 322,163 | $ | 4,687 | ||||||||||||||
|
Loomis Sayles Limited Term Government and Agency Fund, Class N |
364,977 | 228,418 | 116,539 | (987 | ) | 7,072 | 482,941 | 8,187 | ||||||||||||||||||||
|
Mirova Global Green Bond Fund, Class N |
850,898 | 239,188 | 616,493 | 9,317 | 32,526 | 515,436 | 12,710 | |||||||||||||||||||||
|
Mirova International Sustainable Equity Fund, Class N |
195,771 | 548,646 | 162,851 | 16,653 | 35,862 | 634,081 | 6,892 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
| $ | 1,605,045 | $ | 1,221,825 | $ | 989,433 | $ | 25,108 | $ | 92,076 | $ | 1,954,621 | $ | 32,476 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
| (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
|
Purchase
|
Sales
|
Realized
|
Change in
|
Ending
|
Distribution
|
|||||||||||||||||||||
|
Loomis Sayles Inflation Protected Securities Fund, Class N |
$ | 166,476 | $ | 220,863 | $ | 78,863 | $ | 1,556 | $ | 12,448 | $ | 322,480 | $ | 4,100 | ||||||||||||||
|
Loomis Sayles Limited Term Government and Agency Fund, Class N |
233,494 | 243,664 | 122,540 | (370 | ) | 3,671 | 357,919 | 5,333 | ||||||||||||||||||||
|
Mirova Global Green Bond Fund, Class N |
499,317 | 286,967 | 379,277 | 6,794 | 15,944 | 429,745 | 9,353 | |||||||||||||||||||||
|
Mirova International Sustainable Equity Fund, Class N |
191,441 | 754,048 | 209,670 | 23,255 | 51,497 | 810,571 | 9,221 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
| $ | 1,090,728 | $ | 1,505,542 | $ | 790,350 | $ | 31,235 | $ | 83,560 | $ | 1,920,715 | $ | 28,007 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
| (1) |
Purchase cost includes dividend reinvested, if any. |
| (2) |
Distributions received includes distributions from net investment income and from capital gains, if any. |
| 126
Table of Contents
Notes to Financial Statements (continued)
January 31, 2020
Sustainable Future 2035 Fund
|
Fund |
Beginning
|
Purchase
|
Sales
|
Realized
|
Change in
|
Ending
|
Distribution
|
|||||||||||||||||||||
|
Loomis Sayles Inflation Protected Securities Fund, Class N |
$ | 162,485 | $ | 67,597 | $ | 33,052 | $ | 180 | $ | 12,346 | $ | 209,556 | $ | 3,496 | ||||||||||||||
|
Loomis Sayles Limited Term Government and Agency Fund, Class N |
181,543 | 101,972 | 76,981 | (744 | ) | 3,562 | 209,352 | 3,813 | ||||||||||||||||||||
|
Mirova Global Green Bond Fund, Class N |
385,816 | 106,557 | 273,732 | 3,688 | 17,272 | 239,601 | 5,969 | |||||||||||||||||||||
|
Mirova International Sustainable Equity Fund, Class N |
265,372 | 443,097 | 44,888 | 4,404 | 68,657 | 736,642 | 8,664 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
| $ | 995,216 | $ | 719,223 | $ | 428,653 | $ | 7,528 | $ | 101,837 | $ | 1,395,151 | $ | 21,942 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
| (1) |
Purchase cost includes dividend reinvested, if any. |
| (2) |
Distributions received includes distributions from net investment income and from capital gains, if any. |
Sustainable Future 2040 Fund
|
Fund |
Beginning
|
Purchase
|
Sales
|
Realized
|
Change in
|
Ending
|
Distribution
|
|||||||||||||||||||||
|
Loomis Sayles Inflation Protected Securities Fund, Class N |
$ | 103,918 | $ | 91,783 | $ | 45,471 | $ | 437 | $ | 7,673 | $ | 158,340 | $ | 2,284 | ||||||||||||||
|
Loomis Sayles Limited Term Government and Agency Fund, Class N |
120,406 | 96,321 | 91,479 | (394 | ) | 1,702 | 126,556 | 2,035 | ||||||||||||||||||||
|
Mirova Global Green Bond Fund, Class N |
207,969 | 135,223 | 134,129 | 2,814 | 9,814 | 221,691 | 5,053 | |||||||||||||||||||||
|
Mirova International Sustainable Equity Fund, Class N |
245,541 | 621,891 | 79,822 | 11,459 | 73,913 | 872,982 | 10,431 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
| $ | 677,834 | $ | 945,218 | $ | 350,901 | $ | 14,316 | $ | 93,102 | $ | 1,379,569 | $ | 19,803 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
| (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
|
Purchase
|
Sales
|
Realized
|
Change in
|
Ending
|
Distribution
|
|||||||||||||||||||||
|
Loomis Sayles Inflation Protected Securities Fund, Class N |
$ | 51,647 | $ | 37,332 | $ | 36,497 | $ | 259 | $ | 3,005 | $ | 55,746 | $ | 717 | ||||||||||||||
|
Loomis Sayles Limited Term Government and Agency Fund, Class N |
51,290 | 55,925 | 24,690 | (228 | ) | 1,230 | 83,527 | 1,353 | ||||||||||||||||||||
|
Mirova Global Green Bond Fund, Class N |
103,325 | 58,446 | 83,887 | 1,025 | 4,605 | 83,514 | 1,779 | |||||||||||||||||||||
|
Mirova International Sustainable Equity Fund, Class N |
202,534 | 616,303 | 37,467 | 4,412 | 65,135 | 850,917 | 8,928 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
| $ | 408,796 | $ | 768,006 | $ | 182,541 | $ | 5,468 | $ | 73,975 | $ | 1,073,704 | $ | 12,777 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
| (1) |
Purchase cost includes dividend reinvested, if any. |
| (2) |
Distributions received includes distributions from net investment income and from capital gains, if any. |
127 |
Table of Contents
Notes to Financial Statements (continued)
January 31, 2020
Sustainable Future 2050 Fund
|
Fund |
Beginning
|
Purchase
|
Sales
|
Realized
|
Change in
|
Ending
|
Distribution
|
|||||||||||||||||||||
|
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 | 6,953 | 34,841 | (175 | ) | 257 | — | 191 | ||||||||||||||||||||
|
Mirova Global Green Bond Fund, Class N |
83,980 | 64,059 | 75,326 | 1,424 | 3,627 | 77,764 | 1,790 | |||||||||||||||||||||
|
Mirova International Sustainable Equity Fund, Class N |
226,647 | 603,940 | 88,613 | 13,414 | 63,346 | 818,734 | 9,048 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
| $ | 380,410 | $ | 684,455 | $ | 251,323 | $ | 15,275 | $ | 67,681 | $ | 896,498 | $ | 11,029 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
| (1) |
Purchase cost includes dividend reinvested, if any. |
| (2) |
Distributions received includes distributions from net investment income and from capital gains, if any. |
Sustainable Future 2055 Fund
|
Fund |
Beginning
|
Purchase
|
Sales
|
Realized
|
Change in
|
Ending
|
Distribution
|
|||||||||||||||||||||
|
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 | 41,714 | 60,832 | 1,009 | 3,708 | 67,160 | 1,459 | |||||||||||||||||||||
|
Mirova International Sustainable Equity Fund, Class N |
217,645 | 455,654 | 23,506 | 2,208 | 55,088 | 707,089 | 7,134 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
| $ | 367,469 | $ | 501,895 | $ | 158,167 | $ | 3,557 | $ | 59,495 | $ | 774,249 | $ | 8,721 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
| (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
|
Purchase
|
Sales
|
Realized
|
Change in
|
Ending
|
Distribution
|
|||||||||||||||||||||
|
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 | 26,219 | 55,387 | 776 | 3,587 | 51,629 | 1,245 | |||||||||||||||||||||
|
Mirova International Sustainable Equity Fund, Class N |
206,284 | 286,893 | 4,887 | 608 | 54,670 | 543,568 | 6,450 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
| $ | 346,229 | $ | 318,978 | $ | 130,653 | $ | 1,620 | $ | 59,023 | $ | 595,197 | $ | 7,815 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
| (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.
| 128
Table of Contents
Notes to Financial Statements (continued)
January 31, 2020
g. Acquired Fund Fees and Expenses. Each Fund will indirectly realize its pro rata share of the fees and expenses of the underlying funds in which it invests. These fees and expenses are reflected in the valuation of the underlying funds.
6. Line of Credit. 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 year ended January 31, 2020, none of the Funds had borrowings under these agreements.
7. Payable to Custodian Bank. The Funds’ custodian bank, State Street Bank, provides overdraft protection to the Funds in the event of a cash shortfall. Cash overdrafts bear interest at a rate per annum equal to the Federal Funds rate plus 2.00%. At January 31, 2020, the Funds had payables to the custodian bank for overdrafts, as follows:
|
Fund |
Payable to
|
|||
|
Sustainable Future 2035 Fund |
$ | 34,842 | ||
|
Sustainable Future 2040 Fund |
28,233 | |||
|
Sustainable Future 2050 Fund |
15,001 | |||
|
Sustainable Future 2060 Fund |
75,281 | |||
8. 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 January 31, 2020, based on management’s evaluation of the shareholder account base, the Funds had accounts representing controlling 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%
|
Percentage
|
Percentage
|
Total
|
||||||||||||
|
Natixis Sustainable Future 2025 Fund |
2 | 18.31 | % | 64.33 | % | 82.64 | % | |||||||||
|
Natixis Sustainable Future 2030 Fund |
3 | 20.40 | % | 52.63 | % | 73.03 | % | |||||||||
|
Natixis Sustainable Future 2035 Fund |
2 | 24.44 | % | 60.30 | % | 84.74 | % | |||||||||
|
Natixis Sustainable Future 2040 Fund |
3 | 18.92 | % | 59.73 | % | 78.65 | % | |||||||||
|
Natixis Sustainable Future 2045 Fund |
1 | 16.81 | % | 55.27 | % | 72.08 | % | |||||||||
|
Natixis Sustainable Future 2050 Fund |
2 | 15.91 | % | 60.14 | % | 76.05 | % | |||||||||
|
Natixis Sustainable Future 2055 Fund |
2 | 13.23 | % | 65.81 | % | 79.04 | % | |||||||||
Omnibus shareholder accounts for which Natixis Advisors understands that the intermediary has discretion over the underlying shareholder accounts or investment models where a shareholder account may be invested for a non-discretionary customer are included in the table above. For other omnibus accounts, the Fund does not have information on the individual shareholder accounts underlying the omnibus accounts; therefore, there could be other 5% shareholders in addition to those disclosed in the table above.
129 |
Table of Contents
Notes to Financial Statements (continued)
January 31, 2020
9. 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
|
Year Ended
|
Year Ended
|
|||||||||||||||
|
Shares |
Amount |
Shares |
Amount |
|||||||||||||
| Class N |
|
|||||||||||||||
|
Issued from the sale of shares |
107,062 | $ | 1,155,616 | 11,239 | $ | 123,377 | ||||||||||
|
Issued in connection with the reinvestment of distributions |
30,103 | 322,135 | 36,204 | 355,507 | ||||||||||||
|
Redeemed |
(13,798 | ) | (145,173 | ) | (25 | ) | (253 | ) | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Increase from capital share transactions |
123,367 | $ | 1,332,578 | 47,418 | $ | 478,631 | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
Sustainable Future 2020 Fund
|
Year Ended
|
Year Ended
|
|||||||||||||||
|
Shares |
Amount |
Shares |
Amount |
|||||||||||||
| Class N |
|
|||||||||||||||
|
Issued from the sale of shares |
90,230 | $ | 957,399 | 80,140 | $ | 897,561 | ||||||||||
|
Issued in connection with the reinvestment of distributions |
26,705 | 285,054 | 48,240 | 465,438 | ||||||||||||
|
Redeemed |
(8,948 | ) | (95,816 | ) | (80,139 | ) | (898,364 | ) | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Increase from capital share transactions |
107,987 | $ | 1,146,637 | 48,241 | $ | 464,635 | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
Sustainable Future 2025 Fund
|
Year Ended
|
Year Ended
|
|||||||||||||||
|
Shares |
Amount |
Shares |
Amount |
|||||||||||||
| Class N |
|
|||||||||||||||
|
Issued from the sale of shares |
175,466 | $ | 1,921,703 | 33,707 | $ | 375,438 | ||||||||||
|
Issued in connection with the reinvestment of distributions |
26,164 | 285,723 | 33,477 | 329,260 | ||||||||||||
|
Redeemed |
(17,020 | ) | (185,565 | ) | (4,427 | ) | (48,448 | ) | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Increase from capital share transactions |
184,610 | $ | 2,021,861 | 62,757 | $ | 656,250 | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
Sustainable Future 2030 Fund
|
Year Ended
|
Year Ended
|
|||||||||||||||
|
Shares |
Amount |
Shares |
Amount |
|||||||||||||
| Class N |
|
|||||||||||||||
|
Issued from the sale of shares |
291,513 | $ | 3,187,950 | 40,422 | $ | 461,607 | ||||||||||
|
Issued in connection with the reinvestment of distributions |
26,543 | 297,864 | 29,897 | 294,955 | ||||||||||||
|
Redeemed |
(65,153 | ) | (716,153 | ) | (20,116 | ) | (207,795 | ) | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Increase from capital share transactions |
252,903 | $ | 2,769,661 | 50,203 | $ | 548,767 | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
Sustainable Future 2035 Fund
|
Year Ended
|
Year Ended
|
|||||||||||||||
|
Shares |
Amount |
Shares |
Amount |
|||||||||||||
| Class N |
|
|||||||||||||||
|
Issued from the sale of shares |
81,597 | $ | 903,262 | 99,654 | $ | 1,105,288 | ||||||||||
|
Issued in connection with the reinvestment of distributions |
28,066 | 318,050 | 33,354 | 329,317 | ||||||||||||
|
Redeemed |
(6,174 | ) | (68,919 | ) | (334 | ) | (3,711 | ) | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Increase from capital share transactions |
103,489 | $ | 1,152,393 | 132,674 | $ | 1,430,894 | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| 130
Table of Contents
Notes to Financial Statements (continued)
January 31, 2020
9. Capital Shares (continued).
Sustainable Future 2040 Fund
|
Year Ended
|
Year Ended
|
|||||||||||||||
|
Shares |
Amount |
Shares |
Amount |
|||||||||||||
| Class N |
|
|||||||||||||||
|
Issued from the sale of shares |
184,391 | $ | 2,004,238 | 31,525 | $ | 375,855 | ||||||||||
|
Issued in connection with the reinvestment of distributions |
26,710 | 300,687 | 34,281 | 336,300 | ||||||||||||
|
Redeemed |
(24,195 | ) | (271,393 | ) | (69 | ) | (707 | ) | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Increase from capital share transactions |
186,906 | $ | 2,033,532 | 65,737 | $ | 711,448 | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
Sustainable Future 2045 Fund
|
Year Ended
|
Year Ended
|
|||||||||||||||
|
Shares |
Amount |
Shares |
Amount |
|||||||||||||
| Class N |
|
|||||||||||||||
|
Issued from the sale of shares |
191,315 | $ | 2,137,833 | 6,198 | $ | 65,694 | ||||||||||
|
Issued in connection with the reinvestment of distributions |
22,418 | 253,894 | 27,912 | 271,505 | ||||||||||||
|
Redeemed |
(12,959 | ) | (143,686 | ) | (312 | ) | (3,482 | ) | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Increase from capital share transactions |
200,774 | $ | 2,248,041 | 33,798 | $ | 333,717 | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
Sustainable Future 2050 Fund
|
Year Ended
|
Year Ended
|
|||||||||||||||
|
Shares |
Amount |
Shares |
Amount |
|||||||||||||
| Class N |
|
|||||||||||||||
|
Issued from the sale of shares |
190,146 | $ | 2,093,770 | 11,905 | $ | 140,674 | ||||||||||
|
Issued in connection with the reinvestment of distributions |
23,410 | 264,071 | 27,841 | 272,323 | ||||||||||||
|
Redeemed |
(44,077 | ) | (503,350 | ) | (3,328 | ) | (36,359 | ) | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Increase from capital share transactions |
169,479 | $ | 1,854,491 | 36,418 | $ | 376,638 | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
Sustainable Future 2055 Fund
|
Year Ended
|
Year Ended
|
|||||||||||||||
|
Shares |
Amount |
Shares |
Amount |
|||||||||||||
| Class N |
|
|||||||||||||||
|
Issued from the sale of shares |
107,604 | $ | 1,210,350 | 18,075 | $ | 205,303 | ||||||||||
|
Issued in connection with the reinvestment of distributions |
22,553 | 253,971 | 28,069 | 274,463 | ||||||||||||
|
Redeemed |
(4,861 | ) | (53,689 | ) | (147 | ) | (1,542 | ) | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Increase from capital share transactions |
125,296 | $ | 1,410,632 | 45,997 | $ | 478,224 | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
Sustainable Future 2060 Fund
|
Year Ended
January 31, 2020 |
Year Ended
January 31, 2019 |
|||||||||||||||
| Shares | Amount | Shares | Amount | |||||||||||||
| Class N |
|
|||||||||||||||
|
Issued from the sale of shares |
32,812 | $ | 361,010 | 2,705 | $ | 31,558 | ||||||||||
|
Issued in connection with the reinvestment of distributions |
21,137 | 237,210 | 28,638 | 278,298 | ||||||||||||
|
Redeemed |
(3,304 | ) | (36,462 | ) | (8 | ) | (93 | ) | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Increase from capital share transactions |
50,645 | $ | 561,758 | 31,335 | $ | 309,763 | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
131 |
Table of Contents
Notes to Financial Statements (continued)
January 31, 2020
10. Subsequent Events. Subsequent to January 31, 2020, global markets have experienced periods of high volatility triggered by the rapidly evolving public health emergency known as coronavirus (“COVID-19”). As the situation continues to unfold, the extent and duration of the impact that the COVID-19 outbreak may have on financial markets and the economy as a whole remains highly uncertain. If the effects of the COVID-19 outbreak on financial markets and the economy continue for an extended period of time, the Funds’ future financial and investment results may be adversely affected.
| 132
Table of Contents
Report of Independent Registered Public Accounting Firm
To the Board of Trustees of Natixis Funds Trust IV and Shareholders of 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 and Natixis Sustainable Future 2060 Fund
Opinions on the Financial Statements
We have audited the accompanying statements of assets and liabilities, including the portfolios of investments of 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 and Natixis Sustainable Future 2060 Fund (ten of the funds constituting Natixis Funds Trust IV, hereafter collectively referred to as the “Funds”) as of January 31, 2020, the related statements of operations for the year ended January 31, 2020, the statements of changes in net assets for each of the two years in the period ended January 31, 2020, including the related notes, and the financial highlights for each of the two years in the period ended January 31, 2020 and for the period February 28, 2017 (commencement of operations) through January 31, 2018 (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds as of January 31, 2020, the results of each of their operations for the year then ended, the changes in each of their net assets for each of the two years in the period ended January 31, 2020 and each of the financial highlights for each of the two years in the period ended January 31, 2020 and for the period February 28, 2017 (commencement of operations) through January 31, 2018 in conformity with accounting principles generally accepted in the United States of America.
Basis for Opinions
These financial statements are the responsibility of the Funds’ management. Our responsibility is to express an opinion on the Funds’ financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Funds in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.
Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of January 31, 2020 by correspondence with the custodian, transfer agent and brokers: when replies were not received from brokers; we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinions.
PricewaterhouseCoopers LLP
Boston, Massachusetts
March 23, 2020
We have served as the auditor of one or more of the investment companies in the Natixis Investment Company Complex since at least 1995. We have not been able to determine the specific year we began serving as auditor.
133 |
Table of Contents
2020 U.S. Tax Distribution Information to Shareholders (Unaudited)
Qualified Dividend Income. For the calendar year ended January 31, 2020, a percentage of the ordinary income dividends paid by the Funds are considered qualified dividend income eligible for reduced tax rates. These lower rates range from 0% to 20% depending on an individual’s tax bracket. If the Funds paid a distribution during calendar year 2020, complete information will be reported in conjunction with Form 1099-DIV. These percentages are noted below:
|
Fund |
Qualifying
|
|||
|
Sustainable Future 2015 Fund |
16.70 | % | ||
|
Sustainable Future 2020 Fund |
16.78 | % | ||
|
Sustainable Future 2025 Fund |
18.88 | % | ||
|
Sustainable Future 2030 Fund |
19.85 | % | ||
|
Sustainable Future 2035 Fund |
22.86 | % | ||
|
Sustainable Future 2040 Fund |
25.30 | % | ||
|
Sustainable Future 2045 Fund |
31.82 | % | ||
|
Sustainable Future 2050 Fund |
28.23 | % | ||
|
Sustainable Future 2055 Fund |
28.25 | % | ||
|
Sustainable Future 2060 Fund |
34.17 | % | ||
Corporate Dividends Received Deduction. For the year ended January 31, 2020, a percentage of dividends distributed by the Funds listed below qualify for the dividends received deduction for corporate shareholders. These percentages are as follows:
|
Fund |
Qualifying
|
|||
|
Sustainable Future 2015 Fund |
11.94 | % | ||
|
Sustainable Future 2020 Fund |
28.28 | % | ||
|
Sustainable Future 2025 Fund |
32.07 | % | ||
|
Sustainable Future 2030 Fund |
38.10 | % | ||
|
Sustainable Future 2035 Fund |
48.89 | % | ||
|
Sustainable Future 2040 Fund |
48.26 | % | ||
|
Sustainable Future 2045 Fund |
52.14 | % | ||
|
Sustainable Future 2050 Fund |
52.38 | % | ||
|
Sustainable Future 2055 Fund |
53.34 | % | ||
|
Sustainable Future 2060 Fund |
53.65 | % | ||
Capital Gains Distributions. Pursuant to Internal Revenue Section 852(b), the following Funds paid distributions, which have been designated as capital gains distributions for the year ended January 31, 2020.
|
Fund |
Amount |
|||
|
Sustainable Future 2015 Fund |
$ | 165,856 | ||
|
Sustainable Future 2020 Fund |
107,645 | |||
|
Sustainable Future 2025 Fund |
135,307 | |||
|
Sustainable Future 2030 Fund |
140,118 | |||
|
Sustainable Future 2035 Fund |
131,147 | |||
|
Sustainable Future 2040 Fund |
153,541 | |||
|
Sustainable Future 2045 Fund |
153,981 | |||
|
Sustainable Future 2050 Fund |
151,484 | |||
|
Sustainable Future 2055 Fund |
149,757 | |||
|
Sustainable Future 2060 Fund |
155,655 | |||
| 134
Table of Contents
Trustee and Officer Information
The tables below provide certain information regarding the trustees and officers of Natixis Trust IV (the “Trust”). Unless otherwise indicated, the address of all persons below is 888 Boylston Street, Suite 800, Boston, MA 02199-8197. The Funds’ Statement of Additional Information includes additional information about the trustees of the Trust and is available by calling Natixis Funds at 800-225-5478.
|
Name and Year of Birth |
Position(s) Held with
Term of Office1 |
Principal
During Past 5 Years |
Number of Portfolios
|
Experience,
|
||||
| INDEPENDENT TRUSTEES | ||||||||
|
Kenneth A. Drucker (1945) |
Chairperson of the Board of Trustees since January 2017 Trustee since 2008 Ex Officio member of Audit Committee, Contract Review Committee and Governance Committee |
Retired |
51 None |
Significant experience on the Board and on the boards of other business organizations (including at investment companies); executive experience (including as treasurer of an aerospace, automotive, and metal manufacturing corporation) | ||||
|
Edmond J. English (1953) |
Trustee since 2013 Chairperson of Governance Committee and Audit Committee Member |
Executive Chairman of Bob’s Discount Furniture (retail) |
51 Director, Burlington Stores, Inc. (retail) |
Significant experience on the Board and on the boards of other business organizations (including retail companies and a bank); executive experience (including at a retail company) | ||||
|
Richard A. Goglia (1951) |
Trustee since 2015 Contract Review Committee Member and Governance Committee Member |
Retired; formerly Vice President and Treasurer of Raytheon Company (defense) |
51 None |
Significant experience on the Board and executive experience (including his role as vice president and treasurer of a defense company and experience at a financial services company) | ||||
135 |
Table of Contents
Trustee and Officer Information
| 136
Table of Contents
Trustee and Officer Information
137 |
Table of Contents
Trustee and Officer Information
|
Name and Year of Birth |
Position(s) Held with
Term of Office1 |
Principal
During Past 5 Years |
Number of Portfolios
|
Experience,
|
||||
| INTERESTED TRUSTEES | ||||||||
|
Kevin P. Charleston3 (1965) One Financial Center Boston, MA 02111 |
Trustee since 2015 | President, Chief Executive Officer and Chairman of the Board of Directors; formerly, Chief Financial Officer, Loomis, Sayles & Company, L.P. |
51 None |
Experience on the Board; continuing service as President, Chief Executive Officer and Chairman of the Board of Directors of Loomis, Sayles & Company, L.P. | ||||
|
David L. Giunta4 (1965) |
Trustee since 2011 President and Chief Executive Officer since 2008 |
President and Chief Executive Officer, Natixis Advisors, L.P., Natixis Distribution, L.P., Natixis Distribution Corporation and Chairman of the Board of Natixis Distribution Corporation |
51 None |
Significant experience on the Board; experience as President and Chief Executive Officer, Natixis Advisors, L.P., Natixis Distribution, L.P., Natixis Distribution Corporation and Chairman of the Board of Natixis Distribution Corporation | ||||
| 1 |
Each trustee serves until retirement, resignation or removal from the Board. The current retirement age is 75. The position of Chairperson of the Board is appointed for a three-year term. Mr. Drucker was appointed to serve an additional one year term as the Chairperson of the Board on June 12, 2019. |
| 2 |
The trustees of the Trust serve as trustees of a fund complex that includes all series of the Natixis Funds Trust I, Natixis Funds Trust II, Natixis Funds Trust IV, Gateway Trust, Loomis Sayles Funds I, Loomis Sayles Funds II and Natixis ETF Trust (collectively, the “Fund Complex”). |
| 3 |
Mr. Charleston is deemed an “interested person” of the Trust because he holds the following positions with an affiliated person of the Trust: President, Chief Executive Officer and Chairman of the Board of Directors of Loomis, Sayles & Company, L.P. |
| 4 |
Mr. Giunta is deemed an “interested person” of the Trust because he holds the following positions with an affiliated person of the Trust: President and Chief Executive Officer, Natixis Advisors, L.P., Natixis Distribution, L.P., Natixis Distribution Corporation and Chairman of the Board of Natixis Distribution Corporation. |
| 138
Table of Contents
Trustee and Officer Information
|
Name and Year of Birth |
Position(s) Held with the Trust |
Term of Office1 and Length
|
Principal Occupation(s)
|
|||
| OFFICERS OF THE TRUST | ||||||
|
Russell L. Kane (1969) |
Secretary, Clerk and Chief Legal Officer | Since 2016 | Executive Vice President, General Counsel, Secretary and Clerk, Natixis Distribution Corporation, Natixis Advisors, L.P. and Natixis Distribution, L.P.; formerly, Chief Compliance Officer for Mutual Funds, Senior Vice President, Deputy General Counsel, Assistant Secretary and Assistant Clerk, Natixis Distribution Corporation, Natixis Advisors, L.P. and Natixis Distribution, L.P. | |||
|
Michael C. Kardok (1959) |
Treasurer, Principal Financial and Accounting Officer | Since 2004 | Senior Vice President, Natixis Advisors, L.P. and Natixis Distribution, L.P. | |||
|
Kirk D. Johnson (1981) |
Chief Compliance Officer, Assistant Secretary and Anti-Money Laundering Officer | Since 2018 | Senior Vice President, Deputy General Counsel, Assistant Secretary and Assistant Clerk, Natixis Distribution Corporation, Natixis Advisors, L.P. and Natixis Distribution, L.P.; formerly, Associate General Counsel, Natixis Distribution, L.P.; Vice President and Counsel, Natixis Investment Managers, LLC | |||
| 1 |
Each officer of the Trust serves for an indefinite term in accordance with the Trust’s current by-laws until the date his or her successor is elected and qualified, or until he or she sooner dies, retires, is removed or becomes disqualified. |
| 2 |
Each person listed above, except as noted, holds the same position(s) with the Fund Complex. Previous positions during the past five years with Natixis Distribution, L.P., Natixis Advisors, L.P. or Loomis, Sayles & Company, L.P. are omitted, if not materially different from an officer’s current position with such entity. |
139 |
Item 2. Code of Ethics.
The Registrant has adopted a code of ethics that applies to the Registrant's principal executive officer, principal financial officer and persons performing similar functions. There have been no amendments or waivers of the Registrant's code of ethics during the period.
Item 3. Audit Committee Financial Expert.
The Board of Trustees of the Registrant has established an audit committee. Mr. Edmond J. English, Mr. Martin T. Meehan, Mr. Erik R. Sirri, Mr. Peter J. Smail and Ms. Cynthia L. Walker are members of the audit committee and have been designated as "audit committee financial experts" by the Board of Trustees. Each of these individuals is also an Independent Trustee of the Registrant.
Item 4. Principal Accountant Fees and Services.
Fees billed by the Principal Accountant for services rendered to the Registrant.
The table below sets forth fees billed by the principal accountant, PricewaterhouseCoopers LLP, for the past two fiscal years for professional services rendered in connection with a) the audit of the Registrant's annual financial statements and services provided in connection with regulatory filings; b) audit-related services (including services that are reasonably related to the performance of the audit of the Registrant's financial statements but not reported under "Audit Fees"); c) tax compliance, tax advice and tax planning; and d) all other fees billed for professional services rendered by the principal accountant to the Registrant, other than the services provided reported as a part of (a) through (c) of this Item.
|
|
Audit fees |
Audit-related fees1 |
Tax fees2 |
All other fees |
||||
|
|
2/1/18- |
2/1/19- |
2/1/18- |
2/1/19- |
2/1/18- |
2/1/19- |
2/1/18- |
2/1/19- |
|
|
1/31/19 |
1/31/20 |
1/31/19 |
1/31/20 |
1/31/19 |
1/31/20 |
1/31/19 |
1/31/20 |
|
Natixis Funds Trust IV |
$317,059 |
$310,972 |
$28 |
$28 |
$78,780 |
$78,780 |
$- |
$- |
|
|
|
|
|
|
|
|
|
|
1.Audit-related fees consist of:
Year-end 1/31/2019 and 1/31/2020– Performance of agreed-upon procedures related to the Registrant's deferred compensation plan
2.Tax fees consist of:
Year-end 1/31/2019 and 1/31/2020 – review of the Registrant's tax returns
Aggregate fees billed to the Registrant for non-audit services during the fiscal years ended 1/31/2019 and 1/31/2020 were $78,808 and $78,808 respectively.
Fees billed by the Principal Accountant for services rendered to the Adviser and Control Affiliates.
The following table sets forth the fees billed by the Registrant's principal accountant for non-audit services rendered to AEW Capital Management, L.P ("AEW"), Natixis Advisors, L.P. ("Natixis Advisors"), and entities controlling, controlled by or under common control with AEW and Natixis Advisors ("Control Affiliates") that provide ongoing services to the Registrant, for engagements that related directly to the operations and financial reporting of the Registrant for the last two fiscal years.
|
|
Audit-related fees |
|
Tax fees |
|
All other fees |
||
|
|
2/1/18- |
2/1/19- |
2/1/18- |
2/1/19- |
2/1/18- |
|
2/1/19- |
|
|
1/31/19 |
1/31/20 |
1/31/19 |
1/31/20 |
1/31/19 |
|
1/31/20 |
|
Control Affiliates |
$- |
$- |
$- |
$ 26,750 |
$- |
|
$- |
|
|
|
|
|
|
|
|
|
The following table sets forth the aggregate fees billed by the Registrant's principal accountant for non- audit services rendered to AEW, Natixis Advisors, and Control Affiliates that provide ongoing services to the Registrant, for the last two fiscal years, including the fees disclosed in the table above.
Aggregate Non-Audit Fees
|
|
2/1/18-1/31/19 |
2/1/19-1/31/20 |
|
|
|
|
|
Control Affiliates |
$311,630 |
$377,557 |
|
|
|
|
None of the services described above were approved pursuant to paragraph (c)(7)(i)(C) of Regulation S-X.
Audit Committee Pre-Approval Policies.
Annually, the Registrant's Audit Committee reviews the audit, audit-related, tax and other non- audit services together with the projected fees, for services proposed to be rendered to the Registrant and/or other entities for which pre-approval is required during the upcoming year. Any subsequent revisions to already pre-approved services or fees (including fee increases) and requests for pre-approval of new services would be presented for consideration quarterly as needed.
If, in the opinion of management, a proposed engagement by the Registrant's independent accountants needs to commence before the next regularly scheduled Audit Committee meeting, any member of the Audit Committee who is an independent Board member is authorized to pre-approve the engagement, but only for engagements to provide audit, audit-related and tax services. This approval is subject to review of the full Audit Committee at its next quarterly meeting. All other engagements require the approval of all the members of the audit committee.
Item 5. Audit Committee of Listed Registrants.
Not applicable.
Item 6. Schedule of Investments.
Included as part of the Report to Shareholders filed as Item 1 herewith.
Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.
Not applicable.
Item 8. Portfolio Managers of Closed-End Management Investment Companies. Not applicable.
Item 9. Purchases of Equity Securities by Closed-End Management Investment Companies and Affiliated Purchasers.
Not applicable.
Item 10. Submission of Matters to a Vote of Securities Holders.
There were no material changes to the procedures by which shareholders may recommend nominees to the Registrant's Board of Trustees.
Item 11. Controls and Procedures.
The Registrant's principal executive officer and principal financial officer have concluded that the Registrant's disclosure controls and procedures are sufficient to ensure that information required to be disclosed by the Registrant in this Form N-CSR was recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission's rules and forms, based upon such officers' evaluation of these controls and procedures as of a date within 90 days of the filing date of the report.
There were no changes in the Registrant's internal control over financial reporting that occurred during the Registrant's last fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the Registrant's internal control over financial reporting.
Item 12. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.
Not applicable.
Item 13. Exhibits.
(a)(1) Code of Ethics required by Item 2 hereof, filed herewith as Exhibit (a)(1).
(a)(3) Not applicable.
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: |
March 23, 2020 |
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: |
March 23, 2020 |
|
By: |
/s/ Michael C. Kardok |
|
Name: |
Michael C. Kardok |
|
Title: |
Treasurer |
|
Date: |
March 23, 2020 |
