Loomis Sayles Small Cap Value Fund

This fund typically allocates a minimum of 80% of its net assets, along with any capital borrowed for investment purposes, to the equity instruments of small-capitalization companies. These holdings may include preferred shares, warrants, securities exchangeable for common or preferred stock, and other financial interests similar to equity ownership. The portfolio manager currently designates a small-cap company as one whose market capitalization aligns with the range established by the Russell 2000® Index, which tracks the stock performance of the 2,000 smallest U.S. corporations.