0000770540 2011-12-04 2012-12-03 0000770540 ntf1:S000006657Member ntf1:C000123285Member 2011-12-04 2012-12-03 0000770540 ntf1:S000006657Member ntf1:C000018159Member 2011-12-04 2012-12-03 0000770540 ntf1:S000006657Member rr:AfterTaxesOnDistributionsMember ntf1:C000018159Member 2011-12-04 2012-12-03 0000770540 ntf1:S000006657Member rr:AfterTaxesOnDistributionsAndSalesMember ntf1:C000018159Member 2011-12-04 2012-12-03 0000770540 ntf1:S000006657Member ntf1:BarclaysUsAggregateBondIndexMember 2011-12-04 2012-12-03 0000770540 ntf1:S000006657Member ntf1:BlendedIndexMember 2011-12-04 2012-12-03 0000770540 ntf1:S000006657Member 2011-12-04 2012-12-03 pure iso4217:USD 2012-12-03 485BPOS Natixis Funds Trust I 0000770540 false 2011-12-31 2012-11-29 2012-12-03 0 0 0 0.0055 0.0033 0.0088 0 0.0088 64 196 0.0721 0.1673 0.3332 -0.2526 -0.028 0.1424 0.0239 0.0122 0.0173 0.0784 0.1028 0.0296 0.0155 0.0173 0.065 0.0441 0.0487 0.035 0.0341 0.0596 0.0621 2005-11-17 2005-11-17 2005-11-17 2005-11-30 2005-11-30 <div style="display:none">~ http://www.natixis.com/role/ScheduleShareholderFeesNatixisDiversifiedIncomeFund column period compact * ~</div> <div style="display:none">~ http://www.natixis.com/role/ScheduleAnnualFundOperatingExpensesNatixisDiversifiedIncomeFund column period compact * ~</div> <div style="display:none">~ http://www.natixis.com/role/ScheduleExpenseExampleTransposedNatixisDiversifiedIncomeFund column period compact * ~</div> <div style="display:none">~ http://www.natixis.com/role/ScheduleAnnualTotalReturnsNatixisDiversifiedIncomeFundBarChart column period compact * ~</div> <div style="display:none">~ http://www.natixis.com/role/ScheduleAverageAnnualTotalReturnsTransposedNatixisDiversifiedIncomeFund column period compact * ~</div> Natixis Diversified Income Fund Investment Goal The Fund seeks current income with a secondary objective of capital appreciation. Fund Fees & Expenses The following table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. Shareholder Fees (fees paid directly from your investment) Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) Example This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: If shares are redeemed: Portfolio Turnover The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes for you if your Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During its most recently ended fiscal year, the Fund’s portfolio turnover rate was 20% of the average value of its portfolio. Investments, Risks and Performance Principal Investment Strategies The Fund is designed to offer investors access to a diversified portfolio of complementary income-producing investment disciplines from specialized money managers through investment in a single mutual fund. The Fund’s disciplines focus on income-producing fixed-income and equity securities. Each discipline is listed below. <table> <tr> <td valign="bottom" align="center">Adviser/Subadviser and Investment Discipline</td> <td valign="bottom" align="center">Focus of Discipline</td> <td valign="bottom" align="center">Target Allocation</td> <td valign="bottom" align="center">Minimum Allocation</td> <td valign="bottom" align="center">Maximum Allocation </td></tr> <tr> <td valign="top">AEW Diversified REIT</td> <td valign="top">U.S. Equity Real Estate Investment Trusts ("REITs")</td> <td valign="top">25.00%</td> <td valign="top">20.00%</td> <td valign="top">30.00% </td></tr> <tr> <td valign="top">Active Dividend Equity *</td> <td valign="top">Dividend-paying common stocks of U.S. issuers</td> <td valign="top">20.00%</td> <td valign="top">15.00%</td> <td valign="top">25.00% </td></tr> <tr> <td valign="top">Loomis Sayles Inflation Protected Securities</td> <td valign="top">Inflation protected securities, with an emphasis on U.S. Treasury Inflation Protected Securities ("TIPS")</td> <td valign="top">15.00%</td> <td valign="top">10.00%</td> <td valign="top">20.00% </td></tr> <tr> <td valign="top">Loomis Sayles Multi-Sector Bond</td> <td valign="top">Investment grade fixed-income securities</td> <td valign="top">40.00%</td> <td valign="top">30.00%</td> <td valign="top">50.00%</td></tr></table> *    This discipline is managed by NGAM Advisors, L.P. ("NGAM Advisors") through its division Active Investment Advisors ("Active"). Subject to the allocation policy adopted by the Fund's Board of Trustees, NGAM Advisors generally allocates capital invested in the Fund among its four disciplines according to the target allocations noted above. NGAM Advisors (with respect to the Active Dividend Equity discipline) and each of the subadvisers manages the portion of the Fund's assets allocated to them in accordance with Active's or the respective subadviser's distinct investment style and strategy. NGAM Advisors monitors the relative sizes of the disciplines on a monthly basis. When a discipline's percentage of the Fund exceeds the maximum or minimum allocation set forth in the table above, NGAM Advisors will generally reallocate capital away from or towards one or more disciplines in order to bring the discipline back within its target allocation range. Subject to approval by the Fund's Board of Trustees, NGAM Advisors may revise the Fund's target allocations from time to time. In addition, target allocations will vary and may not always be met. The Fund may:<ul type="square"><li style="margin-left:-20px">Invest in equity securities, including common stocks and preferred stocks.</li> <li style="margin-left:-20px">Invest a significant portion of its assets in REITs and companies in the real-estate industry. </li><li style="margin-left:-20px">Invest in securities offered in initial public offerings ("IPOs") and Rule 144A securities. </li><li style="margin-left:-20px">Invest in convertible preferred stock and convertible debt securities. </li><li style="margin-left:-20px">Engage in options for hedging and investment purposes and enter into futures transactions, swap contracts (including credit default swaps), currency hedging transactions and other derivatives. </li><li style="margin-left:-20px">Invest in fixed-income securities of any maturity, including those of foreign issuers and below investment-grade fixed-income securities (commonly known as "junk bonds"). </li><li style="margin-left:-20px">Invest in mortgage-related and asset-backed securities (including mortgage dollar rolls). </li></ul> Principal Risks The principal risks of investing in the Fund are summarized below. The Fund does not represent a complete investment program. You may lose money by investing in the Fund. Allocation Risk: The Fund's investment performance depends on how its assets are allocated. The allocation, as set forth above, may not be optimal in every market condition. You could lose money on your investment in the Fund as a result of this allocation. Credit Risk: Credit risk is the risk that the issuer or the guarantor of a fixed-income security, or the counterparty to a derivatives or other transaction, will be unable or unwilling to make timely payments of interest or principal or to otherwise honor its obligations. Derivatives Risk: Derivatives are subject to changes in the value of the underlying assets or indices on which such transactions are based. There is no guarantee that the use of derivatives will be effective or that suitable transactions will be available. Even a small investment in derivatives may give rise to leverage risk and can have a significant impact on the Fund's exposure to securities markets values, interest rates or currency exchange rates. It is possible that the Fund's liquid assets may be insufficient to support its obligations under its derivatives positions. The use of derivatives for other than hedging purposes may be considered a speculative activity, and involves greater risks than are involved in hedging. The use of derivatives may cause the Fund to incur losses greater than those that would have occurred had derivatives not been used. The Fund's use of derivatives such as options, futures, currency transactions, swap transactions, and credit default swaps involves other risks, such as the credit risk relating to the other party to a derivative contract (which is greater for swaps and other over-the-counter traded derivatives), the risk of difficulties in pricing and valuation, the risk that changes in the value of a derivative may not correlate perfectly with relevant assets, rates or indices, liquidity risk, allocation risk and the risk of losing more than the initial margin required to initiate derivative positions. There is also the risk that the Fund may be unable to terminate or sell a derivatives position at an advantageous time or price. Moreover, a number of broker-dealers and other financial institutions have recently experienced extreme financial difficulty, sometimes resulting in bankruptcy of the institution. There can be no assurance that the Fund's derivative counterparties will be able to avoid experiencing financial difficulties, possibly resulting in losses to the Fund. Equity Securities Risk: The value of the Fund's investments in equity securities could be subject to unpredictable declines in the value of individual securities and periods of below-average performance in individual securities or in the equity market as a whole. Securities issued in IPOs tend to involve greater market risk than other equity securities due, in part, to public perception and the lack of publicly available information and trading history. Rule 144A securities may be less liquid than other equity securities. In the event an issuer is liquidated or declares bankruptcy, the claims of owners of the issuer's bonds and preferred stock generally take precedence over the claims of those who own common stock. Fixed-Income Securities Risk: Fixed-income securities are subject to credit risk, interest rate risk and liquidity risk. Generally, the value of fixed-income securities rises when prevailing interest rates fall and falls when interest rates rise. You may lose money on your investment due to unpredictable drops in a security's value or periods of below-average performance in a given security or in the securities market as a whole. In addition, an economic downturn or period of rising interest rates could adversely affect the market of these securities and reduce the Fund's ability to sell them. Below investment-grade fixed-income securities (commonly known as "junk bonds") may be subject to these risks (including the risk of default) to a greater extent than other fixed-income securities. Foreign Securities Risk: Investments in foreign securities may be subject to greater political, economic, environmental, credit and information risks. The Fund's investments in foreign securities are subject to foreign currency fluctuations. Foreign securities may be subject to higher volatility than U.S. securities, varying degrees of regulation and limited liquidity. Inflation-Linked Securities Risk: Unlike conventional bonds, the principal or interest of inflation-linked securities such as TIPS is adjusted periodically to a specified rate of inflation (e.g., Consumer Price Index for all Urban Consumers). There can be no assurance that the inflation index will accurately measure the real rate of inflation. These securities may lose value in the event that the actual rate of inflation is different than the rate of inflation index. Management Risk: A strategy used by the Fund's portfolio managers may fail to produce the intended result. Market Risk: The market value of a security will move up and down, sometimes rapidly and unpredictably, based upon a change in an issuer's financial condition, as well as overall market and economic conditions. Mortgage-Related and Asset-Backed Securities Risk: In addition to the risks associated with investments in fixed-income securities generally (for example, credit, liquidity and valuation risk), mortgage-related and asset-backed securities are subject to the risks of the mortgages and assets underlying the securities as well as prepayment risk, the risk that the securities may be prepaid and result in the reinvestment of the prepaid amounts in securities with lower yields than the prepaid obligations. Conversely, there is a risk that an unexpected rise in interest rates will extend the life of a mortgage-related or asset-backed security beyond the expected prepayment time, typically reducing the security's value. The Fund also may incur a loss when there is a prepayment of securities that were purchased at a premium. The Fund's investments in other asset-backed securities are subject to risks similar to those associated with mortgage-related securities, as well as additional risks associated with the nature of the assets and the servicing of those assets. REITs Risk: Investments in the real estate industry, including REITs, are particularly sensitive to economic downturns and are sensitive to factors such as changes in real estate values, property taxes and tax laws, interest rates, cash flow of underlying real estate assets, occupancy rates, government regulations affecting zoning, land use and rents and the management skill and creditworthiness of the issuer. Companies in the real estate industry also may be subject to liabilities under environmental and hazardous waste laws. In addition, the value of a REIT is affected by changes in the value of the properties owned by the REIT or mortgage loans held by the REIT. REITs are also subject to default and prepayment risk. Many REITs are highly leveraged, increasing their risk. The Fund will indirectly bear its proportionate share of expenses, including management fees, paid by each REIT in which it invests in addition to the expenses of the Fund. Small- and Mid-Capitalization Companies Risk: Compared to large-capitalization companies, small- and mid-capitalization companies are more likely to have limited product lines, markets or financial resources. Stocks of these companies often trade less frequently and in limited volume and their prices may fluctuate more than stocks of large-cap companies. As a result, it may be relatively more difficult for the Fund to buy and sell securities of small- and mid-cap companies. Risk/Return Bar Chart and Table The bar chart and table shown below provide some indication of the risks of investing in the Fund by showing changes in the Fund's performance from year to year and by showing how the Fund's average annual returns for the one-year, five-year and life-of-fund periods compare to those of two broad measures of market performance. The Barclays U.S. Aggregate Bond Index is an unmanaged index that covers the U.S.-dollar denominated, investment-grade, fixed-rate, taxable bond market of SEC-registered securities. The Blended Index is an unmanaged, blended index composed of the following weights: 40% Barclays U.S. Aggregate Bond Index, 25% MSCI US REIT Index, 20% Dow Jones Select Dividend Index, and 15% Barclays U.S. TIPS Index. The four indices composing the Blended Index measure, respectively, the performance of investment-grade fixed-income securities, equity REIT securities, dividend-yielding equity securities, and Treasury inflation-protected securities. The Fund's past performance (before and after taxes) does not necessarily indicate how the Fund will perform in the future. Updated performance information is available online at ngam.natixis.com and/or by calling the Fund toll-free at 800-225-5478. Because the Fund did not have Class Y shares outstanding during the periods shown, the returns shown in the bar chart and average annual total returns table below are those of the Fund's Class A shares, which are not offered through this prospectus. Class Y shares would have had substantially similar returns because they would have been invested in the same portfolio of securities as Class A shares and would only differ to the extent the classes did not have the same expenses. The Class Y returns may be higher than the returns of Class A shares because Class A shares are subject to sales charges and higher expenses. The chart does not reflect any sales charge that you may be required to pay when you buy or redeem the Fund's shares. A sales charge will reduce your return. Total Returns for Class A Shares Highest Quarterly Return: Second Quarter 2009, 18.28% Lowest Quarterly Return: Fourth Quarter 2008, -18.23% Average Annual Total Returns (for the periods ended December 31, 2011) After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their shares through tax deferred arrangements, such as 401(k) plans, qualified plans, education savings accounts, such as 529 plans or individual retirement accounts. The after-tax returns are shown for only one class of the Fund. After-tax returns for the other classes of the Fund will vary. Index performance reflects no deduction for fees, expenses or taxes. Other expenses are based on estimated amounts for the current fiscal year. April 30, 2014 0.2 You may lose money by investing in the Fund. The bar chart and table shown below provide some indication of the risks of investing in the Fund by showing changes in the Fund's performance from year to year and by showing how the Fund's average annual returns for the one-year, five-year and life-of-fund periods compare to those of two broad measures of market performance. 800-225-5478 ngam.natixis.com The Fund's past performance (before and after taxes) does not necessarily indicate how the Fund will perform in the future. Because the Fund did not have Class Y shares outstanding during the periods shown, the returns shown in the bar chart and average annual total returns table below are those of the Fund's Class A shares, which are not offered through this prospectus. The chart does not reflect any sales charge that you may be required to pay when you buy or redeem the Fund's shares. A sales charge will reduce your return. Highest Quarterly Return: 2009-06-30 0.1828 Lowest Quarterly Return: 2008-12-31 -0.1823 After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. The after-tax returns are shown for only one class of the Fund. After-tax returns for the other classes of the Fund will vary. Index performance reflects no deduction for fees, expenses or taxes. Actual after-tax returns depend on an investor's tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their shares through tax deferred arrangements, such as 401(k) plans, qualified plans, education savings accounts, such as 529 plans or individual retirement accounts. Other expenses are based on estimated amounts for the current fiscal year. The Fund's investment adviser has given a binding contractual undertaking to the Fund to limit the amount of the Fund's total annual fund operating expenses to 1.00% of the Fund's average daily net assets for Class Y shares, exclusive of brokerage expenses, interest expense, taxes, acquired fund fees and expenses, organizational and extraordinary expenses, such as litigation and indemnification expenses. This undertaking is in effect through April 30, 2014 and may be terminated before then only with the consent of the Fund's Board of Trustees. The Fund's investment adviser will be permitted to recover, on a class by class basis, management fees waived and/or expenses reimbursed to the extent that expenses in later periods fall below 1.00% of the Fund's average daily net assets for Class Y shares. The Fund will not be obligated to repay any such waived/reimbursed fees and expenses more than one year after the end of the fiscal year in which the fees or expenses were waived/reimbursed.