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2/1/2011 - 2/1/2011
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&lt;p style="margin-top: 0px; margin-bottom: 0px;" align="center"&gt;&lt;font style="font-family: Times New Roman;" size="2" class="_mt"&gt;&lt;b&gt;NATIXIS FUNDS &lt;/b&gt;&lt;/font&gt;&lt;/p&gt;

&lt;p style="margin-top: 12px; margin-bottom: 0px;"&gt;&lt;font style="font-family: Times New Roman;" size="2" class="_mt"&gt;&lt;i&gt;Supplement dated May&amp;nbsp;2, 2011 to the Class&amp;nbsp;A, B and C Prospectus, as applicable, each dated February&amp;nbsp;1, 2011, as may be revised or supplemented from time to time, for the following funds: &lt;/i&gt;&lt;/font&gt;&lt;/p&gt;

&lt;p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"&gt;&amp;nbsp;&lt;/p&gt;

&lt;table border="0" cellspacing="0" cellpadding="0" width="100%" align="center"&gt;
&lt;tr&gt;&lt;td width="50%"&gt;&amp;nbsp;&lt;/td&gt;
&lt;td valign="bottom" width="2%"&gt;&amp;nbsp;&lt;/td&gt;
&lt;td width="48%"&gt;&amp;nbsp;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td valign="top"&gt;

&lt;p style="margin-top: 0px; margin-bottom: 0px;"&gt;&lt;font style="font-family: Times New Roman;" size="2" class="_mt"&gt;&lt;b&gt;Loomis Sayles Core Plus Bond Fund&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;

&lt;p style="margin-top: 0px; margin-bottom: 1px;"&gt;&lt;font style="font-family: Times New Roman;" size="2" class="_mt"&gt;&lt;b&gt;Loomis Sayles High Income Fund&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font size="1" class="_mt"&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;

&lt;p style="margin-top: 0px; margin-bottom: 0px;"&gt;&lt;font style="font-family: Times New Roman;" size="2" class="_mt"&gt;&lt;b&gt;Loomis Sayles Limited Term Government&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;

&lt;p style="margin-top: 0px; margin-bottom: 1px;"&gt;&lt;font style="font-family: Times New Roman;" size="2" class="_mt"&gt;&lt;b&gt;and Agency Fund&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td valign="top"&gt;&lt;font style="font-family: Times New Roman;" size="2" class="_mt"&gt;&lt;b&gt;Loomis Sayles International Bond Fund&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font size="1" class="_mt"&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font style="font-family: Times New Roman;" size="2" class="_mt"&gt;&lt;b&gt;Loomis Sayles Strategic Income Fund&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td valign="top"&gt;&lt;font style="font-family: Times New Roman;" size="2" class="_mt"&gt;&lt;b&gt;Loomis Sayles Investment Grade Bond Fund&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&lt;font size="1" class="_mt"&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom"&gt;&amp;nbsp;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;

&lt;p style="margin-top: 12px; margin-bottom: 0px;"&gt;&lt;font style="font-family: Times New Roman;" size="2" class="_mt"&gt;&lt;b&gt;&lt;i&gt;Effective immediately, the following paragraph under the section "Fund Fees&amp;nbsp;&amp;amp; Expenses" within each Fund Summary is amended and restated as follows: &lt;/i&gt;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;

&lt;p style="margin-top: 6px; margin-bottom: 0px;"&gt;&lt;font style="font-family: Times New Roman;" size="2" class="_mt"&gt;The following table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $100,000 in the Natixis Fund Complex. More information about these and other discounts is available from your financial professional and in the section "How Sales Charges Are Calculated" on page 53 of the Prospectus and on page 106 in the section "Reduced Sales Charges" of the Statement of Additional Information ("SAI"). &lt;/font&gt;&lt;/p&gt;

&lt;p style="margin-top: 18px; margin-bottom: 0px;"&gt;&lt;font style="font-family: Times New Roman;" size="2" class="_mt"&gt;&lt;b&gt;&lt;i&gt;Effective immediately, the following sentence is added under the bar chart in the section "Risk/Return Bar Chart and Table" within the section "Investments, Risks and Performance" with regard to Loomis Sayles Core Plus Bond Fund&lt;/i&gt;&lt;/b&gt;&lt;b&gt;:&lt;/b&gt;&lt;b&gt;&lt;i&gt; &lt;/i&gt;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;

&lt;p style="margin-top: 6px; margin-bottom: 0px;"&gt;&lt;font style="font-family: Times New Roman;" size="2" class="_mt"&gt;The Fund's Class&amp;nbsp;A shares total return year to date as of March&amp;nbsp;31, 2011 was 1.71%. &lt;/font&gt;&lt;/p&gt;

&lt;p style="margin-top: 18px; margin-bottom: 0px;"&gt;&lt;font style="font-family: Times New Roman;" size="2" class="_mt"&gt;&lt;b&gt;&lt;i&gt;Effective immediately, the following sentence is added under the bar chart in the section "Risk/Return Bar Chart and Table" within the section "Investments, Risks and Performance" with regard to Loomis Sayles High Income Fund&lt;/i&gt;&lt;/b&gt;&lt;b&gt;:&lt;/b&gt;&lt;b&gt;&lt;i&gt; &lt;/i&gt;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;

&lt;p style="margin-top: 6px; margin-bottom: 0px;"&gt;&lt;font style="font-family: Times New Roman;" size="2" class="_mt"&gt;The Fund's Class&amp;nbsp;A shares total return year to date as of March&amp;nbsp;31, 2011 was 4.94%. &lt;/font&gt;&lt;/p&gt;

&lt;p style="margin-top: 18px; margin-bottom: 0px;"&gt;&lt;font style="font-family: Times New Roman;" size="2" class="_mt"&gt;&lt;b&gt;&lt;i&gt;Effective immediately, the following sentence is added under the bar chart in the section "Risk/Return Bar Chart and Table" within the section "Investments, Risks and Performance" with regard to Loomis Sayles International Bond Fund&lt;/i&gt;&lt;/b&gt;&lt;b&gt;:&lt;/b&gt;&lt;b&gt;&lt;i&gt; &lt;/i&gt;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;

&lt;p style="margin-top: 6px; margin-bottom: 0px;"&gt;&lt;font style="font-family: Times New Roman;" size="2" class="_mt"&gt;The Fund's Class&amp;nbsp;A shares total return year to date as of March&amp;nbsp;31, 2011 was 2.70%. &lt;/font&gt;&lt;/p&gt;

&lt;p style="margin-top: 18px; margin-bottom: 0px;"&gt;&lt;font style="font-family: Times New Roman;" size="2" class="_mt"&gt;&lt;b&gt;&lt;i&gt;Effective immediately, the following sentence is added under the bar chart in the section "Risk/Return Bar Chart and Table" within the section "Investments, Risks and Performance" with regard to Loomis Sayles Investment Grade Bond Fund&lt;/i&gt;&lt;/b&gt;&lt;b&gt;:&lt;/b&gt;&lt;b&gt;&lt;i&gt; &lt;/i&gt;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;

&lt;p style="margin-top: 6px; margin-bottom: 0px;"&gt;&lt;font style="font-family: Times New Roman;" size="2" class="_mt"&gt;The Fund's Class&amp;nbsp;A shares total return year to date as of March&amp;nbsp;31, 2011 was 2.15%. &lt;/font&gt;&lt;/p&gt;

&lt;p style="margin-top: 18px; margin-bottom: 0px;"&gt;&lt;font style="font-family: Times New Roman;" size="2" class="_mt"&gt;&lt;b&gt;&lt;i&gt;Effective immediately, the following sentence is added under the bar chart in the section "Risk/Return Bar Chart and Table" within the section "Investments, Risks and Performance" with regard to Loomis Sayles Limited Term Government and Agency Fund&lt;/i&gt;&lt;/b&gt;&lt;b&gt;:&lt;/b&gt;&lt;b&gt;&lt;i&gt; &lt;/i&gt;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;

&lt;p style="margin-top: 6px; margin-bottom: 0px;"&gt;&lt;font style="font-family: Times New Roman;" size="2" class="_mt"&gt;The Fund's Class&amp;nbsp;A shares total return year to date as of March&amp;nbsp;31, 2011 was 0.44%. &lt;/font&gt;&lt;/p&gt;

&lt;p&gt; &lt;/p&gt;

&lt;p style="margin-top: 18px; margin-bottom: 0px;"&gt;&lt;font style="font-family: Times New Roman;" size="2" class="_mt"&gt;&lt;b&gt;&lt;i&gt;Effective immediately, the following sentence is added under the bar chart in the section "Risk/Return Bar Chart and Table" within the section "Investments, Risks and Performance" with regard to Loomis Sayles Strategic Income Fund&lt;/i&gt;&lt;/b&gt;&lt;b&gt;:&lt;/b&gt;&lt;b&gt;&lt;i&gt; &lt;/i&gt;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;

&lt;p style="margin-top: 6px; margin-bottom: 0px;"&gt;&lt;font style="font-family: Times New Roman;" size="2" class="_mt"&gt;The Fund's Class&amp;nbsp;A shares total return year to date as of March&amp;nbsp;31, 2011 was 3.63%. &lt;/font&gt;&lt;/p&gt; &lt;/div&gt;</NonNumbericText><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>us-types:textBlockItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>Supplement [Text Block]</ElementDefenition><ElementReferences>No authoritative reference available.</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Supplement [Text Block]</Label></Row></Rows><Footnotes /><NumberOfCols>1</NumberOfCols><NumberOfRows>1</NumberOfRows><ReportName>Risk/Return Summary  - (Loomis Sayles Core Plus Bond Fund) (Class A, B and C)</ReportName><MonetaryRoundingLevel>UnKnown</MonetaryRoundingLevel><SharesRoundingLevel>UnKnown</SharesRoundingLevel><PerShareRoundingLevel>UnKnown</PerShareRoundingLevel><ExchangeRateRoundingLevel>UnKnown</ExchangeRateRoundingLevel><HasCustomUnits>false</HasCustomUnits><SharesShouldBeRounded>true</SharesShouldBeRounded></InstanceReport>
