Q1 | March 31, 2015
Natixis Oakmark International Fund
Fund Highlights
Morningstar Rating
• An international equity fund focused on small-, mid- and large-cap stocks, relatively unconstrained by
geography, sector or country
• Invests in at least five countries
• Equity philosophy revolves around buying stocks at a discount to their perceived value; managers require
companies to be undervalued, growing and run by strong management teams
Foreign Large Blend – Class A
†
Average annualized total returns
★★★★
★★★★
Overall out of 635 funds
Three years out of 635 funds
6.27%
-0.81%
12.03%
Life of class
12/15/10
8.70%
0.15
-6.49
9.84
7.21
3.83
-1.39
8.24
5.27
3 months
Class A at NAV
Class A with 5.75%
maximum sales charge
MSCI World ex USA Index
(Net)4
Overall rating derived from weighted average of the
3-, 5- and 10-year (if applicable) Morningstar Rating
metrics; other ratings based on risk-adjusted returns.
1 year
3 years
2006
2007
2008
2009
20101
Class A at NAV (%)
-
-
-
-
-
MSCI World ex USA Index
(Net) (%)4
-
-
-
-
-
2011
2012
Ticker
Cusip
Class A
Class C
NOIAX
NOICX
63872R-62-4
63872R-61-6
Class A maximum sales charge of 5.75%
Class C maximum CDSC of 1.00%
Calendar year returns
2005
Share Class
Fund Facts
2013
2014
1.62
-14.55 28.78 28.13
-6.05
Objective
1.43
-12.21 16.41 21.02
-4.32
Total net assets
$1.2 billion
Inception date
12/15/2010
Investment return – Hypothetical growth of $10,000 investment since inception3
Seeks long-term
capital appreciation
Number of holdings
$17,500
55
Turnover as of 12/31/2014
$15,000
$14,300
$12,500
Distribution frequency
Annual
2
$10,000
$7,500
31%
Gross Expense Ratios (A)
1.30%
Net Expense Ratios (A)2
1.30%
$5,000
$2,500
$0
12/10 3/11
9/11
3/12
9/12
3/13
9/13
3/14
9/14
3/15
Performance data quoted represents past performance and is no guarantee of future results. Total return and value will vary, and you may have a gain or loss when
shares are sold. Current performance may be lower or higher than quoted. For most recent month-end performance, visit ngam.natixis.com. Performance for other share
classes will be greater or less than shown based on differences in fees and sales charges. You may not invest directly in an index. †Performance for periods less than one
year is cumulative, not annualized. Returns reflect changes in share price and reinvestment of dividends and capital gains, if any.
1 The calendar year performance shown for 2010 is a partial year of performance since inception on 12/15/2010 through 12/31/2010. 2 As of the most recent prospectus,
the investment advisor has contractually agreed to waive fees and/or reimburse expenses (with certain exceptions) once the expense cap of the fund has been exceeded.
This arrangement is set to expire on 4/30/16. When an expense cap has not been exceeded, the gross and net expense ratios may be the same. 3 This chart tracks hypothetical growth of a $10,000 investment in Class A shares without the effect of sales charges. If the maximum sales charge were included, returns would have been lower.
For funds at least three years old, Morningstar calculates ratings based on a Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance
(including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. Past performance is no guarantee of future results. The top 10% of funds in each category receive five stars, the next 22.5% receive four stars, the next 35% receive three stars, the
next 22.5% receive two stars, and the bottom 10% receive one star. Overall ratings are derived from a weighted average of the performance figures associated with three-,
five-, and ten-year (if applicable) Morningstar metrics. Past performance is no guarantee of future results.
© 2015 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or
distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising
from any use of this information.
Q1 | March 31, 2015
Natixis Oakmark International Fund
Manager Overview
Portfolio Overview
Sector breakdown5
Sector
Top ten equity holdings12
% of Portfolio
Financials
Consumer
Discretionary
Industrials
Company
Investment Manager
% of Portfolio
27.93
1. Credit Suisse Group AG, (Registered)
5.19
27.14
2. BNP Paribas S.A.
4.33
3. Honda Motor Co. Ltd.
3.82
4. Allianz SE, (Registered)
3.81
19.58
Harris Associates manages domestic equity,
international equity and balanced portfolios.
The firm employs an intensive, fundamental inhouse research process to identify companies
trading at a significant discount to managers'
estimates of intrinsic business value. Managers
construct portfolios on a stock-by-stock basis
and follow a strict buy/sell discipline.
Consumer Staples
9.41
Materials
Information
Technology
Health Care
4.38
5. Cie Financiere Richemont S.A., (Registered)
3.52
4.18
6. Toyota Motor Corp.
3.36
1.96
7. Daiwa Securities Group, Inc.
3.34
Portfolio Managers14
8. Diageo PLC
3.12
David G. Herro, CFA®
9. CNH Industrial NV
3.01
10. Lloyds Banking Group PLC
3.01
Fund statistics
6
Beta
1.1
7
R-Squared
88.3
Standard Deviation (%)8
9
P/E (Trailing) Ratio
14.5
Top five countries
16.5
Country
P/B (Trailing) Ratio10
1.8
Median market cap11
$21.5 billion
Headquarters: Chicago, IL
Founded: 1976
Assets under management: $131.6 billion
(as of 12/31/2014)13
Robert A. Taylor, CFA®
% of Portfolio
1. United Kingdom
17.34
2. Switzerland
16.89
3. France
14.26
4. Japan
11.82
5. Germany
11.26
Region breakdown
Region
% of Portfolio
1. Europe Ex UK
54.56
2. United Kingdom
17.34
3. Japan
11.82
4. Asia Ex Japan
4.70
5. Emerging Markets
3.19
6. United States
2.99
Risks
Investing in foreign securities presents risks that in some way may be greater than U.S. investments. Those risks include: currency fluctuation; different regulation,
accounting standards, trading practices and levels of available information; generally higher transaction costs; and political risks. Because the fund may invest in a small
number of industries or securities, it may have more risk because the impact of a single economic, political or regulatory occurrence may have a greater adverse impact on
the fund’s net asset value, and may also increase the fund’s volatility. Investing in value stocks presents the risk that value stocks may fall out of favor with investors and
underperform growth stocks during given periods.
4 MSCI World ex USA Index (Net) is an unmanaged index that is designed to measure the equity market performance of developed markets, excluding the United States. You may not invest
directly in an index. 5 Source: GICS Sectors via FactSet Research Systems Inc. 6 Beta is calculated for the three-year period and represents the risk associated with the fund relative to market
risks. For example, the market has a beta of 1.00, so if a fund has a beta of 0.85, it can be expected to be 15% less volatile than the overall market. Conversely, if a fund has a beta of 1.08, it can
be expected to be 8% more volatile than the overall market. 7 R-squared is calculated for the three-year period and represents the percentage of the fund’s movements that can be explained by
the movements of the market. For example, index funds will tend to have R-squared values very close to 100. 8 Standard deviation measures the risk of a portfolio or market. Beta, R-squared
and standard deviation are calculated on a monthly basis for the 3-year annualized period as of the most recent quarter-end. 9 P/E (Trailing) Ratio is the weighted harmonic average of the priceto-earnings (P/E) ratios of all the stocks in the portfolio. P/E ratio is the ratio of a stock’s price to its earnings per share for the trailing twelve months. This excludes negative earnings. 10 P/B
(Trailing) Ratio is the weighted harmonic average of the price-to-book (P/B) ratios of all the stocks in the portfolio. P/B ratio is the ratio of a stock’s price to its book value per share. This excludes
negative earnings. 11 Median market cap provides a measure of the market capitalization value of all the stocks in the portfolio. Market capitalization reflects the total market value of a company, as calculated by multiplying the current share price by the number of outstanding shares. 12 The portfolio is actively managed and holdings are subject to change. References to specific
securities or industries should not be considered a recommendation. For current holdings, please visit our website. 13 Assets under management (AUM) may include assets for which non-regulatory AUM services are provided. Non-regulatory AUM includes assets which do not fall within the SEC's definition of 'regulatory AUM' in Form ADV, Part 1. 14 CFA® and Chartered Financial Analyst® are registered trademarks owned by the CFA Institute.
Before investing, consider the fund’s investment objectives, risks, charges, and expenses. Visit ngam.natixis.com or call 800-225-5478 for
a prospectus or a summary prospectus containing this and other information. Read it carefully.
NGAM Distribution, L.P. is a limited purpose broker-dealer and the distributor of various registered investment companies for which advisory services are provided by
affiliates of Natixis Global Asset Management, S.A. • NGAM Distribution, L.P. is located at 399 Boylston Street, Boston, MA 02116. • 800-225-5478 • ngam.natixis.com
NOT FDIC INSURED • MAY LOSE VALUE • NO BANK GUARANTEE
966277.1.4
NOIF59-0315