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N-1A
Gateway Trust
0.0783
0.1221
-0.0537
0.1667
0.0838
0.1943
-0.1148
0.1759
0.1768
0.132
0.0548
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2026-05-01
Gateway Equity Call Premium Fund
Investment Goal
<div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">The Fund seeks total return with less risk than U.S. equity markets.</span></div>
Fund Fees & Expenses
<div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">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 </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">brokerage commissions and other fees to financial intermediaries, which are not reflected in this table. </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">You may qualify for sales charge discounts if you and </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">your family invest, or agree to invest in the future, at least $50,000 in the Natixis Funds Complex. More information about these and other discounts is </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">available from your financial professional and in the section “How Sales Charges Are Calculated” on page </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">47</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"> of the Prospectus, in Appendix A to the </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">Prospectus and on page </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">89</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"> in the section “Reduced Sales Charges” of the Statement of Additional Information (“SAI”).</span></div>
Shareholder Fees(fees paid directly from your investment)
0.0575
0
0
0
0.01
0
0
0
0
0
0
Annual Fund Operating Expenses(expenses that you pay each year as a percentage of the value of your investment)
0.0058
0.0058
0.0058
0.0058
0.0025
0.01
0
0
0.0022
0.0022
0.0049
0.0022
0.0105
0.018
0.0107
0.008
0.0093
0.0168
0.0063
0.0068
April 30, 2027
Example
<div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">This 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 </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">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 (except where indicated). The </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">,</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"> </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">except that the example is </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">based on the Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement assuming that such waiver and/or reimbursement will </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">only be in place through the date noted above and on the Total Annual Fund Operating Expenses for the remaining periods. </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">The example for Class C shares for </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">the ten-year period reflects the conversion to Class A shares after eight years.</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"> </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">The example does not take into account brokerage commissions and other fees </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">to financial intermediaries that you may pay on your purchases and sales of shares of the Fund.</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"> Although your actual costs may be higher or lower, based on </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">these assumptions your costs would be:</span></div>
<div>
<table cellpadding="0" cellspacing="0" style="width:100%;cellspacing:0;margin-left:0;border-bottom:1.5pt solid #000000;margin-top:10px;">
<tr style="height:1px;">
<td style="height:1px;width:50.001795332136446%"></td>
<td style="height:1px;width:2.9156193895870732%"></td>
<td style="height:1px;width:9.56193895870736%"></td>
<td style="height:1px;width:2.9156193895870732%"></td>
<td style="height:1px;width:9.56193895870736%"></td>
<td style="height:1px;width:2.9156193895870732%"></td>
<td style="height:1px;width:9.56193895870736%"></td>
<td style="height:1px;width:2.9156193895870732%"></td>
<td style="height:1px;width:9.651705565529623%"></td>
</tr>
<tr>
<td colspan="1" style="padding-bottom:2pt;border-bottom:1.5pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:8.52pt;;"><b>If shares are redeemed:</b></span>
</div>
</td>
<td colspan="2" style="padding-bottom:2pt;border-bottom:1.5pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:8.52pt;;"><b>1 year</b></span></div>
</td>
<td colspan="2" style="padding-bottom:2pt;border-bottom:1.5pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:8.52pt;;"><b>3 years</b></span></div>
</td>
<td colspan="2" style="padding-bottom:2pt;border-bottom:1.5pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:8.52pt;;"><b>5 years</b></span></div>
</td>
<td colspan="2" style="padding-bottom:2pt;border-bottom:1.5pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:8.52pt;;"><b>10 years</b></span></div>
</td>
</tr>
<tr>
<td colspan="1" style="padding-bottom:2pt;border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">Class A</span></div>
</td>
<td colspan="1" style="padding-bottom:2pt;border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">$</span></div>
</td>
<td colspan="1" style="padding-bottom:2pt;border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">664</span></div>
</td>
<td colspan="1" style="padding-bottom:2pt;border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">$</span></div>
</td>
<td colspan="1" style="padding-bottom:2pt;border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">879</span></div>
</td>
<td colspan="1" style="padding-bottom:2pt;border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">$</span></div>
</td>
<td colspan="1" style="padding-bottom:2pt;border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">1,110</span></div>
</td>
<td colspan="1" style="padding-bottom:2pt;border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">$</span></div>
</td>
<td colspan="1" style="padding-bottom:2pt;border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">1,774</span></div>
</td>
</tr>
<tr>
<td colspan="1" style="padding-bottom:2pt;border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">Class C</span></div>
</td>
<td colspan="1" style="padding-bottom:2pt;border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">$</span></div>
</td>
<td colspan="1" style="padding-bottom:2pt;border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">271</span></div>
</td>
<td colspan="1" style="padding-bottom:2pt;border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">$</span></div>
</td>
<td colspan="1" style="padding-bottom:2pt;border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">555</span></div>
</td>
<td colspan="1" style="padding-bottom:2pt;border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">$</span></div>
</td>
<td colspan="1" style="padding-bottom:2pt;border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">964</span></div>
</td>
<td colspan="1" style="padding-bottom:2pt;border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">$</span></div>
</td>
<td colspan="1" style="padding-bottom:2pt;border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">1,909</span></div>
</td>
</tr>
<tr>
<td colspan="1" style="padding-bottom:2pt;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">Class N</span></div>
</td>
<td colspan="1" style="padding-bottom:2pt;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">$</span></div>
</td>
<td colspan="1" style="padding-bottom:2pt;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">64</span></div>
</td>
<td colspan="1" style="padding-bottom:2pt;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">$</span></div>
</td>
<td colspan="1" style="padding-bottom:2pt;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">297</span></div>
</td>
<td colspan="1" style="padding-bottom:2pt;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">$</span></div>
</td>
<td colspan="1" style="padding-bottom:2pt;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">547</span></div>
</td>
<td colspan="1" style="padding-bottom:2pt;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">$</span></div>
</td>
<td colspan="1" style="padding-bottom:2pt;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">1,266</span></div>
</td>
</tr>
</table></div><div>
<table cellpadding="0" cellspacing="0" style="width:100%;cellspacing:0;margin-left:0;border-bottom:1.5pt solid #000000;margin-top:10px;">
<tr style="height:1px;">
<td style="height:1px;width:50.001795332136446%"></td>
<td style="height:1px;width:2.9156193895870732%"></td>
<td style="height:1px;width:9.56193895870736%"></td>
<td style="height:1px;width:2.9156193895870732%"></td>
<td style="height:1px;width:9.56193895870736%"></td>
<td style="height:1px;width:2.9156193895870732%"></td>
<td style="height:1px;width:9.56193895870736%"></td>
<td style="height:1px;width:2.9156193895870732%"></td>
<td style="height:1px;width:9.651705565529623%"></td>
</tr>
<tr>
<td colspan="1" style="padding-bottom:2pt;border-bottom:1.5pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:8.52pt;;"><b>If shares are redeemed:</b></span></div>
</td>
<td colspan="2" style="padding-bottom:2pt;border-bottom:1.5pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:8.52pt;;"><b>1 year</b></span></div>
</td>
<td colspan="2" style="padding-bottom:2pt;border-bottom:1.5pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:8.52pt;;"><b>3 years</b></span></div>
</td>
<td colspan="2" style="padding-bottom:2pt;border-bottom:1.5pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:8.52pt;;"><b>5 years</b></span></div>
</td>
<td colspan="2" style="padding-bottom:2pt;border-bottom:1.5pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:8.52pt;;"><b>10 years</b></span></div>
</td>
</tr>
<tr>
<td colspan="1" style="padding-bottom:2pt;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">Class Y</span></div>
</td>
<td colspan="1" style="padding-bottom:2pt;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">$</span></div>
</td>
<td colspan="1" style="padding-bottom:2pt;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">69</span></div>
</td>
<td colspan="1" style="padding-bottom:2pt;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">$</span></div>
</td>
<td colspan="1" style="padding-bottom:2pt;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">243</span></div>
</td>
<td colspan="1" style="padding-bottom:2pt;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">$</span></div>
</td>
<td colspan="1" style="padding-bottom:2pt;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">432</span></div>
</td>
<td colspan="1" style="padding-bottom:2pt;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">$</span></div>
</td>
<td colspan="1" style="padding-bottom:2pt;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">979</span></div>
</td>
</tr>
</table></div>
If shares are redeemed:
664
879
1110
1774
271
555
964
1909
64
297
547
1266
69
243
432
979
<div>
<table cellpadding="0" cellspacing="0" style="width:100%;cellspacing:0;margin-left:0;border-bottom:1.5pt solid #000000;margin-top:10px;">
<tr style="height:1px;">
<td style="height:1px;width:50.001795332136446%"></td>
<td style="height:1px;width:2.9156193895870732%"></td>
<td style="height:1px;width:9.56193895870736%"></td>
<td style="height:1px;width:2.9156193895870732%"></td>
<td style="height:1px;width:9.56193895870736%"></td>
<td style="height:1px;width:2.9156193895870732%"></td>
<td style="height:1px;width:9.56193895870736%"></td>
<td style="height:1px;width:2.9156193895870732%"></td>
<td style="height:1px;width:9.651705565529623%"></td>
</tr>
<tr>
<td colspan="1" style="padding-bottom:2pt;border-bottom:1.5pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:8.52pt;;"><b>If shares are not redeemed:</b></span>
</div>
</td>
<td colspan="2" style="padding-bottom:2pt;border-bottom:1.5pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:8.52pt;;"><b>1 year</b></span></div>
</td>
<td colspan="2" style="padding-bottom:2pt;border-bottom:1.5pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:8.52pt;;"><b>3 years</b></span></div>
</td>
<td colspan="2" style="padding-bottom:2pt;border-bottom:1.5pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:8.52pt;;"><b>5 years</b></span></div>
</td>
<td colspan="2" style="padding-bottom:2pt;border-bottom:1.5pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:8.52pt;;"><b>10 years</b></span></div>
</td>
</tr>
<tr>
<td colspan="1" style="padding-bottom:2pt;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">Class C</span></div>
</td>
<td colspan="1" style="padding-bottom:2pt;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">$</span></div>
</td>
<td colspan="1" style="padding-bottom:2pt;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">171</span></div>
</td>
<td colspan="1" style="padding-bottom:2pt;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">$</span></div>
</td>
<td colspan="1" style="padding-bottom:2pt;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">555</span></div>
</td>
<td colspan="1" style="padding-bottom:2pt;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">$</span></div>
</td>
<td colspan="1" style="padding-bottom:2pt;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">964</span></div>
</td>
<td colspan="1" style="padding-bottom:2pt;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">$</span></div>
</td>
<td colspan="1" style="padding-bottom:2pt;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">1,909</span></div>
</td>
</tr>
</table></div>
If shares are not redeemed:
171
555
964
1909
Portfolio Turnover
<div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">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 </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">indicate higher transaction costs and may result in higher taxes for you if your Fund shares are held in a taxable account. These costs, which are not reflected </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">in annual fund operating expenses or in the example, affect the Fund’s performance. During its most recently ended fiscal year, the Fund’s portfolio turnover </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">rate was </span><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">18%</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"> of the average value of its portfolio.</span></div>
0.18
Investments, Risks and PerformancePrincipal Investment Strategies
<div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">Under normal circumstances, the Fund will invest at least 80% of its net assets (plus any borrowings made for investment purposes) in equity securities. </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">Equity securities purchased by the Fund may include the following U.S. exchange-listed securities: common stocks; American Depositary Receipts (“ADRs”), </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">which are securities issued by a U.S. bank that represent interests in foreign equity securities; and interests in real estate investment trusts (“REITs”). The </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">Fund ordinarily invests in a broadly diversified equity portfolio, while also writing (selling) index call options with an aggregate notional value approximately </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">equal to the market value of the equity portfolio. Writing index call options is intended to reduce the Fund’s volatility and provide steady cash flow. Cash flow </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">from call option writing is intended to be an important source of the Fund’s return, although the Fund’s option writing activity reduces the Fund’s ability to </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">profit from increases in the value of its equity portfolio. The combination of a diversified stock portfolio and the steady cash flow from the sale of index call </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">options is intended to moderate the volatility of returns relative to an all-equity portfolio. The Fund may also invest in affiliated and unaffiliated mutual funds </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">and exchange-traded funds, to the extent permitted by the Investment Company Act of 1940. The Fund may invest in companies with small, medium or large </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">market capitalizations.</span></div><div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">The Fund’s combination of a broadly diversified portfolio of common stocks and written index call options is similar to the components of the Cboe S&P 500 </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">BuyWrite Index (the “BXM</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:7.5pt;;"><sup>SM</sup></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">”). The BXM</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:7.5pt;;"><sup>SM</sup></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"> is a passive total return index based on (1) buying an S&P 500</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:7.5pt;;"><sup>®</sup></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"> stock index portfolio, and (2) writing (selling) the </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">near-term S&P 500</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:7.5pt;;"><sup>®</sup></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"> Index “covered” call option. The Fund’s more flexible, active option management approach creates the potential for it to achieve higher </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">long-term returns than the BXM</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:7.5pt;;"><sup>SM</sup></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"> while exhibiting a similar level of volatility, as defined by standard deviation of returns. The similarities between the </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">BXM</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:7.5pt;;"><sup>SM</sup></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"> and the Fund’s equity investment strategy are expected to result in the Fund exhibiting a positive correlation to the broad U.S. equity markets similar </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">to that exhibited by the BXM</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:7.5pt;;"><sup>SM</sup></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">.</span></div><div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">With its core investment in equities, the Fund is intended to be significantly less vulnerable to fluctuations in value caused by interest rate volatility, a risk </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">factor present in both fixed-income investments and “hybrid investments” (blends of equity and fixed-income securities). Through the use of index options, </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">the Fund intends that its risk management strategy will reduce the volatility inherent in equity investments while also allowing for more participation in equity </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">returns than hybrid investments. Thus, the Fund seeks to provide an efficient trade-off between risk and reward, where risk is characterized by volatility or </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">fluctuations in value over time.</span></div><div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><b>Purchasing Stocks</b></span></div><div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">The Fund invests in a diversified stock portfolio, generally consisting of approximately 200 to 400 stocks (including ADRs and REITs), designed to support the </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">Fund’s index option-based risk management strategy as efficiently as possible while seeking to enhance the Fund’s after-tax total return. The Adviser uses a </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">multifactor quantitative model to construct the stock portfolio. The model evaluates U.S.-exchange-traded equities that meet the criteria and constraints </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">established by the Adviser. Generally, the Adviser tries to minimize the difference between the performance of the Fund’s stock portfolio and the performance </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">of the index or indices underlying the Fund’s option strategies while also considering other factors, such as predicted dividend yield. The Adviser monitors this </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">difference and other factors, and rebalances and adjusts the stock portfolio from time to time, by purchasing and selling stocks. To the extent consistent with </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">the Fund’s investment goal, the Adviser may also sell stocks to realize capital losses in an effort to minimize any required capital gain distributions. The </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">Adviser expects the portfolio to generally represent the broad U.S. equity market.</span></div><div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><b>Writing Index Call Options</b></span></div><div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">The Fund continuously writes index call options, typically on broad-based securities market indices, with an aggregate notional value approximately equal to </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">the market value of its broadly diversified stock portfolio. As the seller of the index call option, the Fund receives cash (the “premium”) from the purchaser. </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">The purchaser of an index call option has the right to any appreciation in the value of the index over a fixed price (the “exercise price”) on a certain date in the </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">future (the “expiration date”). If the purchaser does not exercise the option, the Fund retains the premium. If the purchaser exercises the option, the Fund pays </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">the purchaser the difference between the value of the index and the exercise price of the option. The premium, the exercise price and the value of the index </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">determine the gain or loss realized by the Fund as the seller of the index call option. The Fund can also repurchase the call option prior to the expiration date, </span></div><div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">ending its obligation. In such a case, the difference between the cost of repurchasing the option and the premium received will determine the gain or loss </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">realized by the Fund. </span></div><div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><b>Other Investments</b></span></div><div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">The Fund may invest in foreign securities traded in U.S. markets (through ADRs or stocks traded in U.S. dollars). The Fund may enter into repurchase </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">agreements and/or hold cash and cash equivalents.</span></div>
<span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">You may lose money </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">by investing in the Fund.</span>
<span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">Fund shares are not bank deposits and are not guaranteed, endorsed or insured by the Federal Deposit Insurance Corporation or any other government </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">agency, and are subject to investment risks, including possible loss of the principal invested.</span>
<div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><b>Management Risk:</b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"> A strategy used by the Fund’s portfolio managers may fail to produce the intended result. </span></div>
<div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><b>Call Options Risk:</b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"> The value of the Fund’s positions in index options will fluctuate in response to changes in the value of the underlying index. Writing </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">index call options limits the opportunity to profit from an increase in the market value of stocks in exchange for up-front cash at the time of selling the call </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">option. Unusual market conditions or the lack of a ready market for any particular option at a specific time may reduce the effectiveness of the Fund’s option-</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">based risk management strategy, and for these and other reasons the Fund’s option strategy may not reduce the Fund’s volatility to the extent desired.</span></div>
<div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><b>Equity Securities Risk:</b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"> The value of the Fund’s investments in equity securities could be subject to unpredictable declines in the value of individual </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">securities and periods of below-average performance in individual securities or in the equity market as a whole. In the event an issuer is liquidated or </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">declares bankruptcy, the claims of owners of the issuer’s bonds generally take precedence over the claims of those who own preferred stock or common </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">stock. </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">Securities of real estate-related companies and REITs in which the Fund may invest may be considered equity securities, thus subjecting the Fund to </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">the risks of investing in equity securities generally. </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">Small- and mid-capitalization and emerging growth companies may be subject to more abrupt price </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">movements, limited markets and less liquidity than larger, more established companies, which could adversely affect the value of the Fund’s equity portfolio.</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"> </span></div>
<div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><b>Correlation Risk</b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">: The Fund’s ability to manage the volatility of its equity portfolio by writing index options depends on the correlation between the returns of </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">the equity portfolio and those of the index on which the Fund’s index options are written. Accordingly, the effectiveness of the Fund’s index option-based risk </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">management strategy may be reduced to the extent the performance of the Fund’s equity portfolio does not correlate to that of the indices underlying its </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">option positions. </span></div>
<div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><b>Market/Issuer Risk:</b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"> The market value of the Fund’s investments will move up and down, sometimes rapidly and unpredictably, based upon overall market </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">and economic conditions, as well as a number of reasons that directly relate to the issuers of the Fund’s investments, such as management performance, </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">financial condition and demand for the issuers’ goods and services.</span></div>
<div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><b>Cybersecurity and Technology Risk:</b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"> The Fund, its service providers,</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"> </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">and other market participants increasingly depend on complex information </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">technology and communications systems, which are subject to a number of different threats and risks that could adversely affect the Fund and its </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">shareholders. Cybersecurity and other operational and technology issues may result in financial losses to the Fund and its shareholders.</span></div>
<div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><b>Foreign Securities Risk:</b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"> Investments in foreign securities may be subject to greater political, economic, environmental, credit/counterparty and information </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">risks. Foreign securities may be subject to higher volatility than U.S. securities, varying degrees of regulation and limited liquidity. </span></div>
<div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><b>Investments in Other Investment Companies Risk:</b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"> The Fund will indirectly bear the management, service and other fees of any other investment </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">companies, including exchange-traded funds, in which it invests in addition to its own expenses.</span></div>
<div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><b>Issuer Exposure Risk:</b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"> Although the Fund is “diversified” within the meaning of the Investment Company Act of 1940 (the “1940 Act”), increases in value in </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">certain securities held by the Fund could cause the Fund to be significantly exposed to a relatively small number of issuers. Similarly, although the Fund is not </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">an index fund, in order to reduce the Fund’s performance dispersion from its benchmark the Fund may use investments in other investment companies to </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">increase its exposure to certain issuers to a greater extent than might otherwise be permitted under the 1940 Act. This exposure to a relatively small number </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">of issuers could increase the risk and volatility of the Fund.</span></div>
<div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><b>Large Shareholder Transaction Risk:</b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"> Ownership of shares of the Fund </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">may be concentrated in one or a few large investors. Such investors may redeem </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">shares in large quantities or on a frequent basis. In addition, a large number of shareholders collectively may purchase or redeem Fund shares in large </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">amounts rapidly or unexpectedly (collectively, such transactions are referred to as “large shareholder transactions”). In the event of a large shareholder </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">transaction, the Fund may be required to sell investments at unfavorable times or prices, which may increase realized capital gains, including short-term </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">capital gains taxable as ordinary income for shareholders who hold Fund shares in a taxable account, may accelerate the realization of taxable income to </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">shareholders, may increase transaction costs, and may otherwise negatively impact fund performance. The effects of taxable income and/or gains resulting </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">from large shareholder transactions would particularly impact non-redeeming shareholders who do not hold their Fund shares in an IRA, 401(k) plan or other </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">tax-advantaged plan. In addition, such transactions potentially limit the use of any capital loss carryforwards and certain other losses to offset future realized </span></div><div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">capital gains (if any). Such transactions may also increase the Fund’s expenses. A number of circumstances may cause </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">the</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"> Fund to experience </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">large</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"> </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">redemptions, such as changes in the eligibility criteria for the Fund or share class of the Fund; liquidations, reorganizations, repositionings, or other </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">announced Fund events; or changes in investment objectives, strategies, policies, risks, or investment personnel.</span></div>
<div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><b>REITs Risk:</b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"> Investments in the real estate industry, including REITs, are particularly sensitive to economic downturns and are sensitive to factors such as </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">changes in real estate values, property taxes and tax laws, interest rates, cash flow of underlying real estate assets, occupancy rates, government regulations </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">affecting zoning, land use and rents and the management skill and creditworthiness of the issuer. Companies in the real estate industry also may be subject </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">to liabilities under environmental and hazardous waste laws. In addition, the value of a REIT is affected by changes in the value of the properties owned by </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">the REIT or mortgage loans held by the REIT. REITs are also subject to default and prepayment risk. Many REITs are highly leveraged, increasing their risk. The </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">Fund will indirectly bear its proportionate share of expenses, including management fees, paid by each REIT in which it invests in addition to the expenses of </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">the Fund. REITs are also subject to the possibilities of failing to qualify for the favorable tax treatment available to REITs under the Internal Revenue Code of </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">1986, as amended, and failing to maintain their exemptions from registration under the Investment Company Act of 1940, as amended.</span></div>
Risk/Return Bar Chart and Table
<div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">The bar chart and table shown below provide some indication of the risks of investing in the Fund by showing changes in the Fund’s performance from year-</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">to-year and by showing how the Fund’s average annual returns for the one-year, five-year, ten-year and life-of-class periods (as applicable) compare to those </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">of a broad-based securities market index that reflects the performance of the overall market applicable to the Fund and an additional index that represents </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">the market sectors in which the Fund primarily invests.</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"> </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">Performance for Class C shares includes the automatic conversion to Class A shares after eight years, </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">where applicable.</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"> </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">The Fund’s past performance (before and after taxes) does not necessarily indicate how the Fund will perform in the future.</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"> Updated </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">performance information is available online at </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">im.natixis.com</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"> and/or by calling the Fund toll-free at </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">800-225-5478</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">. </span></div><div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">The chart does not reflect any sales charge that you may be required to pay when you buy or redeem the Fund’s shares. A sales charge will reduce your </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">return.</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"> To the extent that a class of shares was subject to the waiver or reimbursement of certain expenses during a period, had such expenses not been </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">waived or reimbursed during the period, total returns would have been lower.</span></div>
The bar chart and table shown below provide some indication of the risks of investing in the Fund by showing changes in the Fund’s performance from year-to-year and by showing how the Fund’s average annual returns for the one-year, five-year, ten-year and life-of-class periods (as applicable) compare to those of a broad-based securities market index that reflects the performance of the overall market applicable to the Fund and an additional index that represents the market sectors in which the Fund primarily invests.
The Fund’s past performance (before and after taxes) does not necessarily indicate how the Fund will perform in the future.
im.natixis.com
800-225-5478
The chart does not reflect any sales charge that you may be required to pay when you buy or redeem the Fund’s shares. A sales charge will reduce your return.
Total Returns for Class Y Shares
<div><img alt="image" src="pr4824img002.jpg"/><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"> </span></div>
<div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">Highest Quarterly Return:</span><br/><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">Second Quarter 2020</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">, </span><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">11.74%</span><br/><br/><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">Lowest Quarterly Return:</span><br/><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">First Quarter 2020</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">, </span><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">-15.92%</span></div>
Highest Quarterly Return:
2020-06-30
0.1174
Lowest Quarterly Return:
2020-03-31
-0.1592
<div>
<table cellspacing="0" style="width:100%;cellspacing:0;margin-left:0;border-bottom:1.5pt solid #000000;margin-top:10px;">
<tr style="height:1px;">
<td style="height:1px;width:50%"></td>
<td style="height:1px;width:12.477558348294435%"></td>
<td style="height:1px;width:12.477558348294435%"></td>
<td style="height:1px;width:12.477558348294435%"></td>
<td style="height:1px;width:12.567324955116696%"></td>
</tr>
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<td colspan="1" style="vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:8.52pt;;"><b>Average Annual Total Returns</b></span>
</div>
</td>
<td colspan="1" style="vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"> </div>
</td>
<td colspan="1" style="vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"> </div>
</td>
<td colspan="1" style="vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"> </div>
</td>
<td colspan="1" style="vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"></div>
</td>
</tr>
<tr>
<td colspan="1" style="border-bottom:1.5pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:10pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:8.52pt;;">(for the periods ended December 31, 2025)</span>
</div>
</td>
<td colspan="1" style="border-bottom:1.5pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:10pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:8.52pt;;"><b>Past 1 Year</b></span></div>
</td>
<td colspan="1" style="border-bottom:1.5pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:10pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:8.52pt;;"><b>Past 5 Years</b></span></div>
</td>
<td colspan="1" style="border-bottom:1.5pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:10pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:8.52pt;;"><b>Past 10 Years</b></span></div>
</td>
<td colspan="1" style="border-bottom:1.5pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:10pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:8.52pt;;"><b>Life of Class N</b></span><br/><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:8.52pt;;"><b>(5/1/17)</b></span></div>
</td>
</tr>
<tr>
<td colspan="1" style="border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">Class Y - Return Before Taxes</span></div>
</td>
<td colspan="1" style="border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">13.20%</span></div>
</td>
<td colspan="1" style="border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">10.61%</span></div>
</td>
<td colspan="1" style="border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">9.14%</span></div>
</td>
<td colspan="1" style="border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">-</span></div>
</td>
</tr>
<tr>
<td colspan="1" style="border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">Return After Taxes on Distributions</span></div>
</td>
<td colspan="1" style="border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">13.03%</span></div>
</td>
<td colspan="1" style="border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">10.41%</span></div>
</td>
<td colspan="1" style="border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">8.90%</span></div>
</td>
<td colspan="1" style="border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">-</span></div>
</td>
</tr>
<tr>
<td colspan="1" style="border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">Return After Taxes on Distributions and Sale of Fund Shares</span></div>
</td>
<td colspan="1" style="border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">7.92%</span></div>
</td>
<td colspan="1" style="border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">8.40%</span></div>
</td>
<td colspan="1" style="border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">7.44%</span></div>
</td>
<td colspan="1" style="border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">-</span></div>
</td>
</tr>
<tr>
<td colspan="1" style="border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">Class A - Return Before Taxes</span></div>
</td>
<td colspan="1" style="border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">6.42%</span></div>
</td>
<td colspan="1" style="border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">9.04%</span></div>
</td>
<td colspan="1" style="border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">8.22%</span></div>
</td>
<td colspan="1" style="border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">-</span></div>
</td>
</tr>
<tr>
<td colspan="1" style="border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">Class C - Return Before Taxes</span></div>
</td>
<td colspan="1" style="border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">11.09%</span></div>
</td>
<td colspan="1" style="border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">9.52%</span></div>
</td>
<td colspan="1" style="border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">8.22%</span></div>
</td>
<td colspan="1" style="border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">-</span></div>
</td>
</tr>
<tr>
<td colspan="1" style="border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">Class N - Return Before Taxes</span></div>
</td>
<td colspan="1" style="border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">13.27%</span></div>
</td>
<td colspan="1" style="border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">10.66%</span></div>
</td>
<td colspan="1" style="border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">-</span></div>
</td>
<td colspan="1" style="border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">9.15%</span></div>
</td>
</tr>
<tr>
<td colspan="1" style="border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">S&P 500</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:7pt;;"><sup>®</sup></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"> Index</span></div>
</td>
<td colspan="1" style="border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">17.88%</span></div>
</td>
<td colspan="1" style="border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">14.42%</span></div>
</td>
<td colspan="1" style="border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">14.82%</span></div>
</td>
<td colspan="1" style="border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">14.77%</span></div>
</td>
</tr>
<tr>
<td colspan="1" style="vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">CBOE S&P 500 BuyWrite Index (BXM</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:7pt;;"><sup>SM</sup></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">)</span></div>
</td>
<td colspan="1" style="vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">8.91%</span></div>
</td>
<td colspan="1" style="vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">9.33%</span></div>
</td>
<td colspan="1" style="vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">7.31%</span></div>
</td>
<td colspan="1" style="vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">7.02%</span></div>
</td>
</tr>
</table></div>
Average Annual Total Returns(for the periods ended December 31, 2025)
0.132
0.1061
0.0914
0.1303
0.1041
0.089
0.0792
0.084
0.0744
0.0642
0.0904
0.0822
0.1109
0.0952
0.0822
0.1327
0.1066
0.0915
0.1788
0.1442
0.1482
0.1477
0.0891
0.0933
0.0731
0.0702
<div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">hold their shares through tax-advantaged arrangements, such as 401(k) plans, qualified plans, education savings accounts, such as 529 plans, or individual </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">retirement accounts. </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">The after-tax returns are shown for only one class of the Fund.</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"> </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">After-tax returns for the other classes of the Fund will vary.</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"> </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">Index </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">performance reflects no deduction for fees, expenses or taxes</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">.</span></div>
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their shares through tax-advantaged arrangements, such as 401(k) plans, qualified plans, education savings accounts, such as 529 plans, or individual retirement accounts.
The after-tax returns are shown for only one class of the Fund. After-tax returns for the other classes of the Fund will vary.
Index performance reflects no deduction for fees, expenses or taxes
Gateway Fund
Investment Goal
<div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">The Fund seeks to capture the majority of the returns associated with equity market investments, while exposing investors to less risk than other equity </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">investments.</span></div>
Fund Fees & Expenses
<div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">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 </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">brokerage commissions and other fees to financial intermediaries, which are not reflected in this table. </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">You may qualify for sales charge discounts if you and </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">your family invest, or agree to invest in the future, at least $50,000 in the Natixis Funds Complex. More information about these and other discounts is </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">available from your financial professional and in the section “How Sales Charges Are Calculated” on page </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">47</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"> of the Prospectus, in Appendix A to the </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">Prospectus and on page </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">89</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"> in the section “Reduced Sales Charges” of the Statement of Additional Information (“SAI”).</span></div>
Shareholder Fees
0.0575
0
0
0
0.01
0
0
0
0
0
0
Annual Fund Operating Expenses
0.0059
0.0059
0.0059
0.0059
0.0025
0.01
0
0
0.0013
0.0014
0.0006
0.0014
0.0097
0.0173
0.0065
0.0073
0.0094
0.017
0.0065
0.007
Example
<div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">This 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 </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">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 (except where indicated). The </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">,</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"> </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">except that the examples for </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">the Class A, Class C and Class Y shares are based on the Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement assuming </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">that such waiver and/or reimbursement will only be in place through the date noted above and on the Total Annual Fund Operating Expenses for the </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">remaining periods. </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">The example for Class C shares for the ten-year period reflects the conversion to Class A shares after eight years.</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"> </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">The example does not </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">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.</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"> </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">Although your actual costs may be higher or lower, based on these assumptions your costs would be:</span></div>
<div>
<table cellpadding="0" cellspacing="0" style="width:100%;cellspacing:0;margin-left:0;border-bottom:1.5pt solid #000000;margin-top:10px;">
<tr style="height:1px;">
<td style="height:1px;width:50.001795332136446%"></td>
<td style="height:1px;width:2.9156193895870732%"></td>
<td style="height:1px;width:9.56193895870736%"></td>
<td style="height:1px;width:2.9156193895870732%"></td>
<td style="height:1px;width:9.56193895870736%"></td>
<td style="height:1px;width:2.9156193895870732%"></td>
<td style="height:1px;width:9.56193895870736%"></td>
<td style="height:1px;width:2.9156193895870732%"></td>
<td style="height:1px;width:9.651705565529623%"></td>
</tr>
<tr>
<td colspan="1" style="padding-bottom:2pt;border-bottom:1.5pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:8.52pt;;"><b>If shares are redeemed:</b></span>
</div>
</td>
<td colspan="2" style="padding-bottom:2pt;border-bottom:1.5pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:8.52pt;;"><b>1 year</b></span></div>
</td>
<td colspan="2" style="padding-bottom:2pt;border-bottom:1.5pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:8.52pt;;"><b>3 years</b></span></div>
</td>
<td colspan="2" style="padding-bottom:2pt;border-bottom:1.5pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:8.52pt;;"><b>5 years</b></span></div>
</td>
<td colspan="2" style="padding-bottom:2pt;border-bottom:1.5pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:8.52pt;;"><b>10 years</b></span></div>
</td>
</tr>
<tr>
<td colspan="1" style="padding-bottom:2pt;border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">Class A</span></div>
</td>
<td colspan="1" style="padding-bottom:2pt;border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">$</span></div>
</td>
<td colspan="1" style="padding-bottom:2pt;border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">665</span></div>
</td>
<td colspan="1" style="padding-bottom:2pt;border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">$</span></div>
</td>
<td colspan="1" style="padding-bottom:2pt;border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">863</span></div>
</td>
<td colspan="1" style="padding-bottom:2pt;border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">$</span></div>
</td>
<td colspan="1" style="padding-bottom:2pt;border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">1,078</span></div>
</td>
<td colspan="1" style="padding-bottom:2pt;border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">$</span></div>
</td>
<td colspan="1" style="padding-bottom:2pt;border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">1,694</span></div>
</td>
</tr>
<tr>
<td colspan="1" style="padding-bottom:2pt;border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">Class C</span></div>
</td>
<td colspan="1" style="padding-bottom:2pt;border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">$</span></div>
</td>
<td colspan="1" style="padding-bottom:2pt;border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">273</span></div>
</td>
<td colspan="1" style="padding-bottom:2pt;border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">$</span></div>
</td>
<td colspan="1" style="padding-bottom:2pt;border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">542</span></div>
</td>
<td colspan="1" style="padding-bottom:2pt;border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">$</span></div>
</td>
<td colspan="1" style="padding-bottom:2pt;border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">936</span></div>
</td>
<td colspan="1" style="padding-bottom:2pt;border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">$</span></div>
</td>
<td colspan="1" style="padding-bottom:2pt;border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">1,837</span></div>
</td>
</tr>
<tr>
<td colspan="1" style="padding-bottom:2pt;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">Class N</span></div>
</td>
<td colspan="1" style="padding-bottom:2pt;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">$</span></div>
</td>
<td colspan="1" style="padding-bottom:2pt;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">66</span></div>
</td>
<td colspan="1" style="padding-bottom:2pt;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">$</span></div>
</td>
<td colspan="1" style="padding-bottom:2pt;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">208</span></div>
</td>
<td colspan="1" style="padding-bottom:2pt;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">$</span></div>
</td>
<td colspan="1" style="padding-bottom:2pt;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">362</span></div>
</td>
<td colspan="1" style="padding-bottom:2pt;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">$</span></div>
</td>
<td colspan="1" style="padding-bottom:2pt;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">810</span></div>
</td>
</tr>
</table></div><div>
<table cellpadding="0" cellspacing="0" style="width:100%;cellspacing:0;margin-left:0;border-bottom:1.5pt solid #000000;margin-top:10px;">
<tr style="height:1px;">
<td style="height:1px;width:50.001795332136446%"></td>
<td style="height:1px;width:2.9156193895870732%"></td>
<td style="height:1px;width:9.56193895870736%"></td>
<td style="height:1px;width:2.9156193895870732%"></td>
<td style="height:1px;width:9.56193895870736%"></td>
<td style="height:1px;width:2.9156193895870732%"></td>
<td style="height:1px;width:9.56193895870736%"></td>
<td style="height:1px;width:2.9156193895870732%"></td>
<td style="height:1px;width:9.651705565529623%"></td>
</tr>
<tr>
<td colspan="1" style="padding-bottom:2pt;border-bottom:1.5pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:8.52pt;;"><b>If shares are redeemed:</b></span></div>
</td>
<td colspan="2" style="padding-bottom:2pt;border-bottom:1.5pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:8.52pt;;"><b>1 year</b></span></div>
</td>
<td colspan="2" style="padding-bottom:2pt;border-bottom:1.5pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:8.52pt;;"><b>3 years</b></span></div>
</td>
<td colspan="2" style="padding-bottom:2pt;border-bottom:1.5pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:8.52pt;;"><b>5 years</b></span></div>
</td>
<td colspan="2" style="padding-bottom:2pt;border-bottom:1.5pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:8.52pt;;"><b>10 years</b></span></div>
</td>
</tr>
<tr>
<td colspan="1" style="padding-bottom:2pt;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">Class Y</span></div>
</td>
<td colspan="1" style="padding-bottom:2pt;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">$</span></div>
</td>
<td colspan="1" style="padding-bottom:2pt;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">72</span></div>
</td>
<td colspan="1" style="padding-bottom:2pt;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">$</span></div>
</td>
<td colspan="1" style="padding-bottom:2pt;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">230</span></div>
</td>
<td colspan="1" style="padding-bottom:2pt;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">$</span></div>
</td>
<td colspan="1" style="padding-bottom:2pt;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">403</span></div>
</td>
<td colspan="1" style="padding-bottom:2pt;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">$</span></div>
</td>
<td colspan="1" style="padding-bottom:2pt;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">904</span></div>
</td>
</tr>
</table></div>
If shares are redeemed:
665
863
1078
1694
273
542
936
1837
66
208
362
810
72
230
403
904
<div>
<table cellpadding="0" cellspacing="0" style="width:100%;cellspacing:0;margin-left:0;border-bottom:1.5pt solid #000000;margin-top:10px;">
<tr style="height:1px;">
<td style="height:1px;width:50.001795332136446%"></td>
<td style="height:1px;width:2.9156193895870732%"></td>
<td style="height:1px;width:9.56193895870736%"></td>
<td style="height:1px;width:2.9156193895870732%"></td>
<td style="height:1px;width:9.56193895870736%"></td>
<td style="height:1px;width:2.9156193895870732%"></td>
<td style="height:1px;width:9.56193895870736%"></td>
<td style="height:1px;width:2.9156193895870732%"></td>
<td style="height:1px;width:9.651705565529623%"></td>
</tr>
<tr>
<td colspan="1" style="padding-bottom:2pt;border-bottom:1.5pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:8.52pt;;"><b>If shares are not redeemed:</b></span>
</div>
</td>
<td colspan="2" style="padding-bottom:2pt;border-bottom:1.5pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:8.52pt;;"><b>1 year</b></span></div>
</td>
<td colspan="2" style="padding-bottom:2pt;border-bottom:1.5pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:8.52pt;;"><b>3 years</b></span></div>
</td>
<td colspan="2" style="padding-bottom:2pt;border-bottom:1.5pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:8.52pt;;"><b>5 years</b></span></div>
</td>
<td colspan="2" style="padding-bottom:2pt;border-bottom:1.5pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:8.52pt;;"><b>10 years</b></span></div>
</td>
</tr>
<tr>
<td colspan="1" style="padding-bottom:2pt;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">Class C</span></div>
</td>
<td colspan="1" style="padding-bottom:2pt;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">$</span></div>
</td>
<td colspan="1" style="padding-bottom:2pt;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">173</span></div>
</td>
<td colspan="1" style="padding-bottom:2pt;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">$</span></div>
</td>
<td colspan="1" style="padding-bottom:2pt;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">542</span></div>
</td>
<td colspan="1" style="padding-bottom:2pt;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">$</span></div>
</td>
<td colspan="1" style="padding-bottom:2pt;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">936</span></div>
</td>
<td colspan="1" style="padding-bottom:2pt;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">$</span></div>
</td>
<td colspan="1" style="padding-bottom:2pt;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">1,837</span></div>
</td>
</tr>
</table></div>
If shares are not redeemed:
173
542
936
1837
Portfolio Turnover
<div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">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 </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">indicate higher transaction costs and may result in higher taxes for you if your Fund shares are held in a taxable account. These costs, which are not reflected </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">in annual fund operating expenses or in the example, affect the Fund’s performance. During its most recently ended fiscal year, the Fund’s portfolio turnover </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">rate was </span><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">17%</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"> of the average value of its portfolio.</span></div>
0.17
Investments, Risks and PerformancePrincipal Investment Strategies
<div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">Under normal circumstances, the Fund invests in a broadly diversified portfolio of common stocks, while also selling index call options and purchasing index </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">put options. Writing index call options is intended to reduce the Fund’s volatility, provides steady cash flow and is an important source of the Fund’s return, </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">although it also reduces the Fund’s ability to profit from increases in the value of its equity portfolio. The Fund also buys index put options, which can protect </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">the Fund from a significant market decline that may occur over a short period of time. The value of an index put option generally increases as the prices of the </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">stocks constituting the index decrease, and decreases as those stocks increase in price. From time to time, the Fund may reduce its holdings of put options, </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">resulting in an increased exposure to a market decline. The combination of the diversified stock portfolio, the steady cash flow from the sale of index call </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">options and the downside protection from index put options is intended to provide the Fund with the majority of the returns associated with equity market </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">investments while exposing investors to less risk than other equity investments. The Fund may also invest in affiliated and unaffiliated mutual funds and </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">exchange-traded funds, to the extent permitted by the Investment Company Act of 1940. The Fund may invest in companies with small, medium or large </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">market capitalizations. Equity securities purchased by the Fund may include U.S. exchange-listed common stocks, American Depositary Receipts (“ADRs”), </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">which are securities issued by a U.S. bank that represent interests in foreign equity securities, and interests in real estate investment trusts (“REITs”).</span></div><div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">The Fund strives not only for the majority of the returns associated with equity market investments, but also for returns in excess of those available from other </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">investments comparable in volatility. Because, as described above, the Fund writes index call options and purchases index put options in addition to investing </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">in equity securities, the Fund’s historical volatility has been closer to intermediate- to long-term fixed-income investments (intermediate-term are those with </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">approximately five-year maturities and long-term are those with maturities of ten or more years) and hybrid investments (blends of equity and short-term </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">fixed-income securities) than to equity investments. With its core investment in equities, the Fund is significantly less vulnerable to fluctuations in value </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">caused by interest rate volatility, a risk factor present in both fixed-income investments and “hybrid investments” (blends of equity and short-term fixed-</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">income), although the Fund expects to generally have lower long-term returns than a fund consisting solely of equity securities. Through the use of index </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">options, the Fund intends that its risk management strategy will reduce the volatility inherent in equity investments while also allowing for more participation </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">in equity returns than hybrid investments. Thus, the Fund seeks to provide an efficient trade-off between risk and reward where risk is characterized by </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">volatility or fluctuations in value over time.</span></div><div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><b>Purchasing Stocks</b></span></div><div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">The Fund invests in a diversified stock portfolio, generally consisting of approximately 200 to 400 stocks, designed to support the Fund’s index option based </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">risk management strategy as efficiently as possible while seeking to enhance the Fund’s after tax total return. The Adviser uses a multifactor quantitative </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">model to construct the stock portfolio. The model evaluates U.S.-exchange-traded equities that meet criteria and constraints established by the Adviser. </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">Generally, the Adviser tries to minimize the difference between the performance of the stock portfolio and that of the index or indices underlying the Fund’s </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">option strategies while also considering other factors, such as predicted dividend yield. The Adviser monitors this difference and the other factors, and </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">rebalances and adjusts the stock portfolio from time to time, by purchasing and selling stocks. To the extent consistent with the Fund’s investment goal, the </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">Adviser may also sell stocks to realize capital losses in an effort to minimize any required capital gain distributions. The Adviser expects the portfolio to </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">generally represent the broad U.S. equity market.</span></div><div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><b>Writing Index Call Options</b></span></div><div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">The Fund continuously writes index call options, typically on broad-based securities market indices, on the full value of its broadly diversified stock portfolio. </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">As the seller of the index call option, the Fund receives cash (the “premium”) from the purchaser. The purchaser of an index call option has the right to any </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">appreciation in the value of the index over a fixed price (the “exercise price”) on a certain date in the future (the “expiration date”). If the purchaser does not </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">exercise the option, the Fund retains the premium. If the purchaser exercises the option, the Fund pays the purchaser the difference between the value of the </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">index and the exercise price of the option. The premium, the exercise price and the value of the index determine the gain or loss realized by the Fund as the </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">seller of the index call option. The Fund can also repurchase the call option prior to the expiration date, ending its obligation. In this case, the difference </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">between the cost of repurchasing the option and the premium received will determine the gain or loss realized by the Fund.</span></div><div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><b>Purchasing Index Put Options</b></span></div><div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">The Fund may buy index put options in an attempt to protect the Fund from a significant market decline that may occur over a short period of time. The value </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">of an index put option generally increases as stock prices (and the value of the index) decrease and decreases as those stocks (and the index) increase in </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">price.</span></div><div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><b>Other Investments</b></span></div><div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">The Fund may invest in foreign securities traded in U.S. markets (through ADRs or stocks traded in U.S. dollars). The Fund may enter into repurchase </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">agreements and/or hold cash and cash equivalents.</span></div>
<span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">You may lose money </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">by investing in the Fund.</span>
<span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">Fund shares are not bank deposits and are not guaranteed, endorsed or insured by the Federal Deposit Insurance Corporation or any other government </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">agency, and are subject to investment risks, including possible loss of the principal invested.</span>
<div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><b>Management Risk:</b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"> A strategy used by the Fund’s portfolio managers may fail to produce the intended result. </span></div>
<div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><b>Options Risk:</b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"> The value of the Fund’s positions in index options will fluctuate in response to changes in the value of the underlying index. Writing index call </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">options limits the opportunity to profit from an increase in the market value of stocks in exchange for up-front cash at the time of selling the call option. The </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">Fund also risks losing all or part of the cash paid for purchasing index put options. Unusual market conditions or the lack of a ready market for any particular </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">option at a specific time may reduce the effectiveness of the Fund’s option strategies, and for these and other reasons the Fund’s option strategies may not </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">reduce the Fund’s volatility to the extent desired.</span></div>
<div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><b>Equity Securities Risk:</b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"> The value of the Fund’s investments in equity securities could be subject to unpredictable declines in the value of individual </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">securities and periods of below-average performance in individual securities or in the equity market as a whole. In the event an issuer is liquidated or </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">declares bankruptcy, the claims of owners of the issuer’s bonds generally take precedence over the claims of those who own preferred stock or common </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">stock. </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">Securities of real estate-related companies and REITs in which the Fund may invest may be considered equity securities, thus subjecting the Fund to </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">the risks of investing in equity securities generally. </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">Small- and mid-capitalization and emerging growth companies may be subject to more abrupt price </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">movements, limited markets and less liquidity than larger, more established companies, which could adversely affect the value of the Fund’s equity portfolio.</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"> </span></div>
<div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><b>Correlation Risk</b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">: The Fund’s ability to manage the volatility of its equity portfolio by writing index options depends on the correlation between the returns of </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">the equity portfolio and those of the index on which the Fund’s index options are written. Accordingly, the effectiveness of the Fund’s index option-based risk </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">management strategy may be reduced </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">to the extent the</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"> performance of the Fund’s equity portfolio does not correlate to that of the indices underlying its </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">option positions. </span></div>
<div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><b>Foreign Securities Risk:</b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"> Investments in foreign securities may be subject to greater political, economic, environmental, credit/counterparty and information </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">risks.</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">The Fund’s investments in foreign securities also are subject to foreign currency fluctuations and other foreign currency-related risks.</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"> Foreign securities </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">may be subject to higher volatility than U.S. securities, varying degrees of regulation and limited liquidity. </span></div>
<div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><b>Cybersecurity and Technology Risk:</b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"> The Fund, its service providers,</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"> </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">and other market participants increasingly depend on complex information </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">technology and communications systems, which are subject to a number of different threats and risks that could adversely affect the Fund and its </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">shareholders. Cybersecurity and other operational and technology issues may result in financial losses to the Fund and its shareholders.</span></div>
<div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><b>Investments in Other Investment Companies Risk:</b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"> The Fund will indirectly bear the management, service and other fees of any other investment </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">companies, including exchange-traded funds, in which it invests in addition to its own expenses.</span></div>
<div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><b>Issuer Exposure Risk:</b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"> Although the Fund is “diversified” within the meaning of the Investment Company Act of 1940 (the “1940 Act”), increases in value in </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">certain securities held by the Fund could cause the Fund to be significantly exposed to a relatively small number of issuers. Similarly, although the Fund is not </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">an index fund, in order to reduce the Fund’s performance dispersion from its benchmark the Fund may use investments in other investment companies to </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">increase its exposure to certain issuers to a greater extent than might otherwise be permitted under the 1940 Act. This exposure to a relatively small number </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">of issuers could increase the risk and volatility of the Fund.</span></div>
<div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><b>Large Shareholder Transaction Risk:</b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"> Ownership of shares of the Fund </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">may be concentrated in one or a few large investors. Such investors may redeem </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">shares in large quantities or on a frequent basis. In addition, a large number of shareholders collectively may purchase or redeem Fund shares in large </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">amounts rapidly or unexpectedly (collectively, such transactions are referred to as “large shareholder transactions”). In the event of a large shareholder </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">transaction, the Fund may be required to sell investments at unfavorable times or prices, which may increase realized capital gains, including short-term </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">capital gains taxable as ordinary income for shareholders who hold Fund shares in a taxable account, may accelerate the realization of taxable income to </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">shareholders, may increase transaction costs, and may otherwise negatively impact fund performance. The effects of taxable income and/or gains resulting </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">from large shareholder transactions would particularly impact non-redeeming shareholders who do not hold their Fund shares in an IRA, 401(k) plan or other </span></div><div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">tax-advantaged plan. In addition, such transactions potentially limit the use of any capital loss carryforwards and certain other losses to offset future realized </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">capital gains (if any). Such transactions may also increase the Fund’s expenses. A number of circumstances may cause </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">the</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"> Fund to experience large </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">redemptions, such as changes in the eligibility criteria for the Fund or share class of the Fund; liquidations, reorganizations, repositionings, or other </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">announced Fund events; or changes in investment objectives, strategies, policies, risks, or investment personnel.</span></div>
<div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><b>Market/Issuer Risk:</b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"> The market value of the Fund’s investments will move up and down, sometimes rapidly and unpredictably, based upon overall market </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">and economic conditions, as well as a number of reasons that directly relate to the issuers of the Fund’s investments, such as management performance, </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">financial condition and demand for the issuers’ goods and services. </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">The Adviser will attempt to reduce this risk by implementing various volatility </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">management strategies and techniques. However, there is no guarantee that such strategies and techniques will produce the intended result.</span></div>
<div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><b>REITs Risk:</b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"> Investments in the real estate industry, including REITs, are particularly sensitive to economic downturns and are sensitive to factors such as </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">changes in real estate values, property taxes and tax laws, interest rates, cash flow of underlying real estate assets, occupancy rates, government regulations </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">affecting zoning, land use and rents and the management skill and creditworthiness of the issuer. Companies in the real estate industry also may be subject </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">to liabilities under environmental and hazardous waste laws. In addition, the value of a REIT is affected by changes in the value of the properties owned by </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">the REIT or mortgage loans held by the REIT. REITs are also subject to default and prepayment risk. Many REITs are highly leveraged, increasing their risk. The </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">Fund will indirectly bear its proportionate share of expenses, including management fees, paid by each REIT in which it invests in addition to the expenses of </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">the Fund. REITs are also subject to the possibilities of failing to qualify for the favorable tax treatment available to REITs under the Internal Revenue Code of </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">1986, as amended, and failing to maintain their exemptions from registration under the Investment Company Act of 1940, as amended.</span></div>
Risk/Return Bar Chart and Table
<div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">The bar chart and table shown below provide some indication of the risks of investing in the Fund by showing changes in the Fund’s performance from year-</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">to-year and by showing how the Fund’s average annual returns for the one-year, five-year, ten-year and life-of-class periods (as applicable) compare to those </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">of two broad measures of market performance.</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"> </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">Performance for Class C shares includes the automatic conversion to Class A shares after eight years, where </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">applicable.</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"> </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">The Fund’s past performance (before and after taxes) does not necessarily indicate how the Fund will perform in the future.</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"> Updated performance </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">information is available online at </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">im.natixis.com</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"> and/or by calling the Fund toll-free at </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">800-225-5478</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">. </span></div><div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">The chart does not reflect any sales charge that you may be required to pay when you buy or redeem the Fund’s shares. A sales charge will reduce your </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">return.</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"> To the extent that a class of shares was subject to the waiver or reimbursement of certain expenses during a period, had such expenses not been </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">waived or reimbursed during the period, total returns would have been lower.</span></div>
The bar chart and table shown below provide some indication of the risks of investing in the Fund by showing changes in the Fund’s performance from year-to-year and by showing how the Fund’s average annual returns for the one-year, five-year, ten-year and life-of-class periods (as applicable) compare to those of two broad measures of market performance.
The Fund’s past performance (before and after taxes) does not necessarily indicate how the Fund will perform in the future.
im.natixis.com
800-225-5478
The chart does not reflect any sales charge that you may be required to pay when you buy or redeem the Fund’s shares. A sales charge will reduce your return.
Total Returns for Class Y Shares
<div><img alt="image" src="pr4824img003.jpg"/><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"> </span></div>
<div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">Highest Quarterly Return:</span><br/><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">Second Quarter 2020</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">, </span><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">8.36%</span><br/><br/><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">Lowest Quarterly Return:</span><br/><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">First Quarter 2020</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">, </span><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">-10.01%</span></div>
Highest Quarterly Return:
2020-06-30
0.0836
Lowest Quarterly Return:
2020-03-31
-0.1001
<div>
<table cellspacing="0" style="width:100%;cellspacing:0;margin-left:0;border-bottom:1.5pt solid #000000;margin-top:10px;">
<tr style="height:1px;">
<td style="height:1px;width:50%"></td>
<td style="height:1px;width:12.477558348294435%"></td>
<td style="height:1px;width:12.477558348294435%"></td>
<td style="height:1px;width:12.477558348294435%"></td>
<td style="height:1px;width:12.567324955116696%"></td>
</tr>
<tr>
<td colspan="1" style="vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:8.52pt;;"><b>Average Annual Total Returns</b></span>
</div>
</td>
<td colspan="1" style="vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"> </div>
</td>
<td colspan="1" style="vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"> </div>
</td>
<td colspan="1" style="vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"> </div>
</td>
<td colspan="1" style="vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"></div>
</td>
</tr>
<tr>
<td colspan="1" style="border-bottom:1.5pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:10pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:8.52pt;;">(for the periods ended December 31, 2025)</span>
</div>
</td>
<td colspan="1" style="border-bottom:1.5pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:10pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:8.52pt;;"><b>Past 1 Year</b></span></div>
</td>
<td colspan="1" style="border-bottom:1.5pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:10pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:8.52pt;;"><b>Past 5 Years</b></span></div>
</td>
<td colspan="1" style="border-bottom:1.5pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:10pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:8.52pt;;"><b>Past 10 Years</b></span></div>
</td>
<td colspan="1" style="border-bottom:1.5pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:10pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:8.52pt;;"><b>Life of Class N</b></span><br/><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:8.52pt;;"><b>(5/1/17)</b></span></div>
</td>
</tr>
<tr>
<td colspan="1" style="border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">Class Y - Return Before Taxes</span></div>
</td>
<td colspan="1" style="border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">10.84%</span></div>
</td>
<td colspan="1" style="border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">7.59%</span></div>
</td>
<td colspan="1" style="border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">6.67%</span></div>
</td>
<td colspan="1" style="border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">-</span></div>
</td>
</tr>
<tr>
<td colspan="1" style="border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">Return After Taxes on Distributions</span></div>
</td>
<td colspan="1" style="border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">10.70%</span></div>
</td>
<td colspan="1" style="border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">7.40%</span></div>
</td>
<td colspan="1" style="border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">6.37%</span></div>
</td>
<td colspan="1" style="border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">-</span></div>
</td>
</tr>
<tr>
<td colspan="1" style="border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">Return After Taxes on Distributions and Sale of Fund Shares</span></div>
</td>
<td colspan="1" style="border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">6.51%</span></div>
</td>
<td colspan="1" style="border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">5.94%</span></div>
</td>
<td colspan="1" style="border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">5.29%</span></div>
</td>
<td colspan="1" style="border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">-</span></div>
</td>
</tr>
<tr>
<td colspan="1" style="border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">Class A - Return Before Taxes</span></div>
</td>
<td colspan="1" style="border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">4.22%</span></div>
</td>
<td colspan="1" style="border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">6.07%</span></div>
</td>
<td colspan="1" style="border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">5.79%</span></div>
</td>
<td colspan="1" style="border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">-</span></div>
</td>
</tr>
<tr>
<td colspan="1" style="border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">Class C - Return Before Taxes</span></div>
</td>
<td colspan="1" style="border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">8.72%</span></div>
</td>
<td colspan="1" style="border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">6.51%</span></div>
</td>
<td colspan="1" style="border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">5.77%</span></div>
</td>
<td colspan="1" style="border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">-</span></div>
</td>
</tr>
<tr>
<td colspan="1" style="border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">Class N - Return Before Taxes</span></div>
</td>
<td colspan="1" style="border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">10.89%</span></div>
</td>
<td colspan="1" style="border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">7.64%</span></div>
</td>
<td colspan="1" style="border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">-</span></div>
</td>
<td colspan="1" style="border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">6.67%</span></div>
</td>
</tr>
<tr>
<td colspan="1" style="border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">S&P 500</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:7pt;;"><sup>®</sup></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"> Index</span></div>
</td>
<td colspan="1" style="border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">17.88%</span></div>
</td>
<td colspan="1" style="border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">14.42%</span></div>
</td>
<td colspan="1" style="border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">14.82%</span></div>
</td>
<td colspan="1" style="border-bottom:1pt solid #000000;vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">14.77%</span></div>
</td>
</tr>
<tr>
<td colspan="1" style="vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">Bloomberg U.S. Aggregate Bond Index</span></div>
</td>
<td colspan="1" style="vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">7.30%</span></div>
</td>
<td colspan="1" style="vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">-0.36%</span></div>
</td>
<td colspan="1" style="vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">2.01%</span></div>
</td>
<td colspan="1" style="vertical-align:bottom">
<div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:0pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">1.84%</span></div>
</td>
</tr>
</table></div>
Average Annual Total Returns(for the periods ended December 31, 2025)
0.1084
0.0759
0.0667
0.107
0.074
0.0637
0.0651
0.0594
0.0529
0.0422
0.0607
0.0579
0.0872
0.0651
0.0577
0.1089
0.0764
0.0667
0.1788
0.1442
0.1482
0.1477
0.073
-0.0036
0.0201
0.0184
<div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">hold their shares through tax-advantaged arrangements, such as 401(k) plans, qualified plans, education savings accounts, such as 529 plans, or individual </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">retirement accounts. </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">The after-tax returns are shown for only one class of the Fund.</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"> </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">After-tax returns for the other classes of the Fund will vary.</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"> </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">Index </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">performance reflects no deduction for fees, expenses or taxes</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">.</span></div>
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their shares through tax-advantaged arrangements, such as 401(k) plans, qualified plans, education savings accounts, such as 529 plans, or individual retirement accounts.
The after-tax returns are shown for only one class of the Fund. After-tax returns for the other classes of the Fund will vary.
Index performance reflects no deduction for fees, expenses or taxes
1A 1.00% contingent deferred sales charge (“CDSC”) may apply to certain purchases of Class A shares of $1,000,000 or more that are redeemed within eighteen months of the date of purchase.
1Gateway Investment Advisers, LLC (“Gateway” 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 0.93%, 1.68%, 0.63%, and 0.68% of the Fund’s average daily net assets for Class A, Class C, Class N, and Class Y shares, respectively, 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, 2027 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 both (1) the class’ applicable expense limitation at the time such amounts were waived/reimbursed and (2) the class’ current applicable expense limitation. 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.
2Natixis Advisors, LLC (“Natixis Advisors”) has given a binding contractual undertaking to the Fund to reimburse any and all transfer agency expenses for Class N shares. This undertaking is in effect through April 30, 2027 and may be terminated before then only with the consent of the Fund’s Board of Trustees.
1A 1.00% contingent deferred sales charge (“CDSC”) may apply to certain purchases of Class A shares of $1,000,000 or more that are redeemed within eighteen months of the date of purchase.
1Gateway Investment Advisers, LLC (“Gateway” 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 0.94%, 1.70%, 0.65%, and 0.70% of the Fund’s average daily net assets for Class A, Class C, Class N, and Class Y shares, respectively, 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, 2027 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 both (1) the class’ applicable expense limitation at the time such amounts were waived/reimbursed and (2) the class’ current applicable expense limitation. 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.