Fund closings
The Natixis Funds Board of Trustees voted on February 29, 2008 to liquidate two funds:
- Loomis Sayles Municipal Income Fund
- Loomis Sayles Massachusetts Tax Free Income Fund
After extensive analysis it was determined that these two funds' small asset levels do not provide the scale needed to remain viable for our shareholders.
What you should know
The liquidation of both funds was completed on June 13, 2008. If your account was registered directly with Natixis Funds, you would have received a check in the amount of the value of your shares based on the closing net asset value (NAV) for the fund on the liquidation date. We sent the check via U.S. Mail to the address listed on your account records. For accounts registered through a brokerage firm, we expect the proceeds to be transferred to your cash account. Please remember that in most cases fund liquidation is a taxable event.
If your fund investment is in your Natixis IRA or retirement plan, your assets were transferred to Natixis Cash Management Trust – Money Market Series under your plan. The transfer occured at the close of business on June 13, 2008, and was not a taxable event.
The funds stopped accepting investments from new shareholders as of the close of business on March 14, 2008 and additional investments from existing shareholders as of the close of business on April 11, 2008. This supplement provides more information on these changes.
We apologize for any inconvenience this decision may have caused you. Please be assured that Natixis Funds remains committed to providing you with a diverse range of solutions to help you reach your investment goals. We appreciate your support of our fund family and hope that we may continue to help you invest in the future. If you have any questions, please contact your financial advisor or call us at 800-225-5478.
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