The action relates to two large orders completed for the Loomis Sayles Growth Equity Strategies (GES) portfolios on 18 March 2022.
Several NIMI / NIM SA funds (2 Luxembourg funds, 1 UK OEIC and 1 French fund) currently invest in the GES strategy, however the legal steps taken by Loomis Sayles have not been taken on these funds’ behalf. It is anticipated that should the class action proceed, the relevant Management Companies of the French, Luxembourg and UK funds, will be given an opportunity to opt into the class action on behalf of shareholders..
No action is or will be required by fund investors as all relevant steps will be taken by the relevant management companies. Any recovery (net of expenses) would be paid into the relevant fund(s) pro rata. Fund investors who are not shareholders at the time of an award of the court would not benefit from the recovery. The resolution of the litigation is expected to take some time.
The funds affected by the above developments are:
Loomis Sayles Global Growth Equity Fund, a sub-fund of Natixis International Funds (Lux) I SICAV.1
Loomis Sayles U.S. Equity Leaders Fund, a sub-fund of Natixis Investment Funds U.K. ICVC. 2
Loomis Sayles U.S. Growth Equity Fund, a sub-fund of Natixis International Funds (Lux) I SICAV. 1
Natixis Actions US Growth, a French FCP approved in France and regulated by the AMF. 3
2 - The Authorized Corporate Director of the fund is Natixis Investment Managers S.A.
3 - The Management Company of the fund is Natixis Investment Managers International.