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Natixis U.S. Diversified Portfolio
Fund focus
Natixis U.S. Diversified Portfolio invests in a wide spectrum of large-, medium- and small-company stocks using both growth and value investment styles.
What you should know
While the fund offers potential long-term growth of capital, it employs a growth investment style that focuses on future expectations of a security. As a result, the fund may be exposed to greater volatility if these expectations are not met. The fund also invests in value stocks, which can fall out of favor with investors and underperform growth stocks during certain market conditions.
Investment strategy
Natixis U.S. Diversified Portfolio offers the benefits of a multi-manager approach in a single fund. Every dollar invested is divided among four segment managers, selected for their expertise within a particular discipline. Combining those with complementary approaches in a single portfolio produces a well-rounded portfolio that helps investors diversify while seeking to reduce overall investment risk associated with investing in a single segment.
Top Five Holdings
| Information is as of 8/31/2008* |
| Intel Corp. |
2.12% |
| Hewlett-Packard Co. |
1.32% |
| Carnival Corp. |
1.30% |
| Merrill Lynch & Co., Inc. |
1.20% |
| Dell, Inc. |
1.16% |
View a complete list of holdings
for this fund.
Sector Breakdown
| Information is as of 8/31/2008 |
| Information Technology |
20.34% |
| Financials |
15.33% |
| Consumer Discretionary |
14.65% |
| Industrials |
12.70% |
| Health Care |
12.47% |
| Consumer Staples |
7.13% |
| Energy |
5.61% |
| Utilities |
4.12% |
| Materials |
3.96% |
| Cash & Equivalents |
2.70% |
| Telecommunication Services |
0.98% |
Portfolio Managers
Managed by Harris Associates (The Oakmark Funds)
Large-Cap Value Segment
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| Edward Loeb |
Michael Mangan |
Diane Mustain |
Managed by BlackRock Investment Management
Large-Cap Growth Segment
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| Thomas Burke |
Managed by Loomis, Sayles & Company, L.P.
Small/mid Core Segment
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| Joseph R. Gatz |
Dan Thelen |
The team emphasizes smaller companies in managing the Loomis Sayles segment of the Fund. Normally, they choose from a universe of stocks with market capitalizations (the total value of all the company's outstanding stock) within the range of the market capitalization of those companies which make up the Russell 2500 Index, selecting those whose appreciation potential they believe is not generally recognized by the market. Earnings are foremost among their selection criteria; dividends are not a factor. Loomis, Sayles favors companies with above-average growth rates combined with low price/earnings ratios. To add further growth potential to the Fund, Loomis invests in a small number of turn-arounds and special situations; for example, companies that are focusing on a rebound after a business setback.
"Our approach to small company investing focuses on finding core, quality holdings that we expect to deliver solid performance to the portfolio over time. This emphasis on core holdings is designed to capitalize on opportunities for more consistent return with lower volatility. By pursuing consistent performance year to year, we hope to deliver top performance over longer periods."
Managed by Loomis, Sayles & Company, L.P.
Mid-Cap Growth Segment
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| Philip Fine |
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The Loomis, Sayles team looks for emerging high-growth companies that dominate
their industry niche or are positioned to benefit from change -- e.g., a change
in technology, regulatory climate, or demographic trend. They evaluate factors
including a company's competitive position, management's track record, industry
dynamics, and the effect of each holding's risk characteristics on the portfolio.
A few reasons for selling a stock are: achieving a price target, a company's
failure to execute its business plan, or signs of slowing growth trends usually
associated with more mature companies.
"Our small-cap team likes to buy young aggressive companies that
offer distinctive products, services or technologies. We look for dynamic
earnings growth and exceptional management teams -- since their skills drive
the ability of these small companies to sustain above-average growth."
The following information regarding this Fund is also available:
Growth stocks are generally more sensitive to market movements because their stock prices are based on future expectations. Lower-rated bonds may offer higher yields in return for more risk. This fund may invest in real estate investment trusts (REITs), which change price with underlying real estate values and have other mortgage related risks. This fund invests in derivative securities whose value is based on other securities or indices. Frequent portfolio turnover may increase your risk of greater tax liability, which could lower your return for this fund. These risks affect your investment's value.
Investors should be aware that small-cap and emerging growth companies are more volatile than the overall market. This fund may invest in initial public offerings (IPOs), which may have significant risk, impact the fund's performance, and result in increased tax liability to shareholders. These risks affect your investment's value. See a prospectus for details.
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