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Loomis Sayles Investment Grade Fixed Income Fund

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Loomis Sayles Investment Grade Fixed Income Fund NATIXIS FUNDS TRUST I NATIXIS FUNDS TRUST II NATIXIS FUNDS TRUST IV NATI XI S ETF TRUST NATI XI S ETF TRUST I I LOOMIS SAYLES FUNDS I LOOMIS SAYLES FUNDS II GATEWAY TRUST (each a “Trust” and collectively, the “Trusts”) Supplement dated August 4, 2021, to the Loomis Sayles Funds Summary Prospectuses, Prospectuses and Statements of Additional Information, each dated February 1, 2021 and May 1, 2021, Natixis Funds Summary Prospectuses, Prospectuses and Statements of Additional Information, each dated February 1, 2021, April 1, 2021, May 1, 2021, June 1, 2021 and the Natixis ETFs Summary Prospectuses, Prospectuses and Statements of Additional Information, each dated May 1, 2021, as may be revised or supplemented from time to time, for the following funds: AEW Global Focused Real Estate Fund Loomis Sayles Securitized Asset Fund AlphaSimplex Global Alternatives Fund Loomis Sayles Senior Floating Rate and Fixed AlphaSimplex Managed Futures Strategy Fund Income Fund Gateway Fund Loomis Sayles Small Cap Growth Fund Gateway Equity Call Premium Fund Loomis Sayles Small Cap Value Fund Loomis Sayles Bond Fund Loomis Sayles Small/Mid Cap Growth Fund Loomis Sayles Core Plus Bond Fund Loomis Sayles Strategic Alpha Fund Loomis Sayles Credit Income Fund Loomis Sayles Strategic Income Fund Loomis Sayles Fixed Income Fund Mirova Global Green Bond Fund Loomis Sayles Global Allocation Fund Mirova Global Sustainable Equity Fund Loomis Sayles Global Bond Fund Mirova International Sustainable Equity Fund Loomis Sayles Global Growth Fund Mirova U.S. Sustainable Equity Fund Loomis Sayles Growth Fund Natixis Loomis Sayles Short Duration Income ETF Loomis Sayles High Income Fund Natixis Oakmark Fund Loomis Sayles High Income Opportunities Fund Natixis Oakmark International Fund Loomis Sayles Inflation Protected Securities Fund Natixis U.S. Equity Opportunities Fund Loomis Sayles Institutional High Income Fund Natixis U.S. Equity Opportunities ETF Loomis Sayles Intermediate Duration Bond Fund Natixis Vaughan Nelson Mid Cap ETF Loomis Sayles Intermediate Municipal Bond Fund Natixis Vaughan Nelson Select ETF Loomis Sayles International Growth Fund Vaughan Nelson Mid Cap Fund Loomis Sayles Investment Grade Bond Fund Vaughan Nelson Select Fund Loomis Sayles Investment Grade Fixed Income Fund Vaughan Nelson Small Cap Value Fund Loomis Sayles Limited Term Government and Agency Fund (each a “Fund” and together the “Funds”) Effective July 30, 2021, the names of the following entities are changed as set forth below and all references to such entities in the summary prospectuses, prospectuses and statements of additional information of the Funds are revised accordingly: Current Name Ne w Name Natixis Advisors, L.P. Natixis Advisors, LLC Natixis Distribution, L.P. Natixis Distribution, LLC Effective July 30, 2021, Russell L. Kane resigned as Secretary, Clerk and Chief Legal Officer of the Trusts. Accordingly, effective immediately all references to Russell L. Kane are removed from each Statement of Additional Information. Effective July 30, 2021, Natalie R. Wagner has been appointed as Chief Legal Officer of the Trusts. Accordingly, the “Officers of the Trust(s)” table located in the sub-section “Trustees and Officers” within the section “Management of the Trust(s)” in each Statement of Additional Information is hereby amended to include the following: 1 2 Name and Year Position(s) Held Term of Office and Principal Occupation(s) During Past 5 Years of Birth with the Trust(s) Length of Time Served OFFICERS OF THE TRUS T Natalie R. Chief Compliance Since May 2021 Formerly, Vice President, Head of Corporate Wagner Officer, Assistant Compliance, Global Atlantic Financial Group (1979) Secretary and Anti- Money Laundering Officer Chief Legal Officer Since July 2021 1 Each officer of the Trust serves for an indefinite term in accordance with the Trust’s current by-laws until the date his or her successor is elected and qualified, or until he or she sooner dies, retires, is removed or becomes disqualified. 2 Each person listed above, except as noted, holds the same position(s) with the Fund Complex. Previous positions during the past five years with Natixis Distribution, LLC, Natixis Advisors, LLC, or Loomis, Sayles & Company, L.P. are omitted, if not materially different from a T rustee’s or officer’s current position with such entity. Summary Prospectus May 1, 2021 Loomis Sayles Investment Grade Fixed Income Fund Ticker Symbol: Institutional Class (LSIGX) Before you invest, you may want to review the Fund’s Prospectus, which contains more information about the Fund and its risks. You can find the Fund’s Prospectus, reports to shareholders, and other information about the Fund online at www.loomissayles.com/Prospectus. You can also get this information at no cost by calling 800-633-3330 or by sending an e-mail request to [email protected]. The Fund’s Prospectus and Statement of Additional Information (“SAI”), each dated May 1, 2021, as may be revised or supplemented from time to time, are incorporated by reference into this Summary Prospectus. INVESTMENT OBJECTIVE The Fund’s investment objective is above-average total investment return through a combination of current income and capital appreciation. FUND FEES & EXPENSES The following table describes the fees and expenses that you may pay if you buy, hold, and sell shares of the Fund. You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in this table. The Fund does not impose a sales charge, a redemption fee or an exchange fee. Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) Institutional Class Management fees 0.40% Distribution and/or service (12b-1) fees 0.00% Other expenses 0.27% Total annual fund operating expenses 0.67% Fee waiver and/or expense reimbursement1 0.12% Total annual fund operating expenses after fee waiver and/or expense reimbursement 0.55% 1 Loomis, Sayles & Company, L.P. (“Loomis Sayles” or the “Adviser”) has given a binding contractual undertaking to the Fund to limit the amount of the Fund’s total annual fund operating expenses to 0.55% of the Fund’s average daily net assets, 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, 2022 and may be terminated before then only with the consent of the Fund’s Board of Trustees. The 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 the applicable expense limitations. 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. Example The 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. The example does not take into account brokerage commissions and other fees to financial intermediaries that you may pay on your purchases and sales of shares of the Fund. Although your actual costs may be higher or lower, based on these assumptions your costs would be: 1 year 3 years 5 years 10 years Institutional Class $ 56 $ 202 $ 361 $ 823 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. 1 fund summary These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal period ended December 31, 2020 and for the prior fiscal year ended September 30, 2020, the Fund’s portfolio turnover rates were 30% and 29%, respectively, of the average value of its portfolio. INVESTMENTS, RISKS AND PERFORMANCE Principal Investment Strategies Under normal circumstances, the Fund will invest at least 80% of its net assets (plus any borrowings made for investment purposes) in investment-grade fixed-income securities. The Fund may invest up to 10% of its assets in below investment-grade fixed-income securities (“junk bonds”) and up to 10% of its assets in equity securities (including preferred stocks and common stocks). Below investment-grade fixed-income securities are rated below investment-grade quality (i.e., none of the three major ratings agencies (Moody’s Investors Service, Inc., Fitch Investor Services, Inc. or S&P Global Ratings) have rated the securities in one of their respective top four ratings categories). The Fund’s fixed-income securities investments may include unrated securities (securities that are not rated by a rating agency) if Loomis Sayles determines that the securities are of comparable quality to rated securities that the Fund may purchase. The Fund may invest in fixed- income securities of any maturity. In deciding which securities to buy and sell, Loomis Sayles may consider a number of factors related to the bond issue and the current bond market, including, for example, the stability and volatility of a country’s bond markets, the financial strength of the issuer, current interest rates, current valuations, Loomis Sayles’ expectations regarding general trends in interest rates and currency considerations. Loomis Sayles will also consider how purchasing or selling a bond would impact the overall portfolio’s risk profile (for example, its sensitivity to currency risk, interest rate risk and sector-specific risk) and potential return (income and capital gains).
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