Loomis Sayles | Advisors | Intermediate Duration Bond Fund

Class I
Class R

Ticker	LSDIX
Class Inception	1/28/1998
CUSIP	543495709
Minimum Initial Investment¹	$100,000
Gross Expense Ratio²	0.51%
Net Expense Ratio²	0.40%
Net Asset Value as of 4/30/2013	10.64
30-Day SEC Yield as of 4/30/2013	1.31%
Unsubsidized 30-Day SEC Yield as of 4/30/2013³	1.23%
Fact Sheet Commentary Application Prospectus Report

Ticker	LSDRX
Class Inception	5/28/2010
CUSIP	543495725
Minimum Initial Investment¹	$2,500
Gross Expense Ratio²	0.84%
Net Expense Ratio²	0.65%
Net Asset Value as of 4/30/2013	10.64
30-Day SEC Yield as of 4/30/2013	1.07%
Unsubsidized 30-Day SEC Yield as of 4/30/2013³	0.86%
Fact Sheet Commentary Application Prospectus Report

Investment return and principal value may fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Performance data quoted represents past performance and current returns may be higher or lower.

The Intermediate Duration Bond Fund seeks above-average total return through a combination of current income and capital appreciation

Primary Benchmark:

Barclays US Intermediate Government/Credit Bond Index

Portfolio Management

Chris Harms
Cliff Rowe, CFA
Kurt Wagner, CFA, CIC

Total Fund Assets (as of 4/30/2013):

$85.6 million

Lipper Category:

Intermediate Investment Grade Debt Funds

Morningstar Category:

Intermediate-Term Bond

Strategy Highlights

Fund aims to add value through strong security selection and sector allocation while seeking to minimize risk
Emphasis on fundamental credit research to add value versus Treasurys in favorable market environments
Looks to add value from all major sectors of the fixed income markets including mortgage-, commercial- and asset-backed securities

Investment Strategy

At purchase securities must be rated investment grade
May hold up to 10% of net assets in securities that are downgraded to below-investment subsequent to purchase
Weighted average duration of the portfolio is generally 2-5 years, and is managed within a close range to the index
Fund is 100% US dollar

About Risk

Mutual funds that invest in bonds can lose their value. When interest rates rise, bond prices usually fall and vice versa. Credit risk (the risk that the issuer or borrower will fail to make timely payments of interest and/or principal) is heightened for lower rated or higher yielding fixed-income securities and lower rated borrowers. In addition, lower-rated debt securities may be subject to greater price volatility
High yield securities are subject to a high degree of market and credit risk. In addition, the secondary market for these securities may lack liquidity which, in turn may adversely affect the value of these securities and the value of the fund
Foreign investments involve special risks including greater economic, political and currency fluctuation risks, which may be even greater in emerging markets

Past performance is no guarantee of future results.

¹ For further detail regarding Minimum Initial Investment, please see the fund prospectus.

² Unlike net expense ratio, gross expense ratio does not reflect any potential reimbursement/waiver of expenses, if any, as stated in the most recent Fund prospectus. Fund expenses and expense reductions are subject to change. Expense reductions are contractual; Class I shares are set to expire 1/31/2014, Class R on 1/31/2014 . Investors should consult the most recent prospectus for more detailed information.

³Unsubsidized 30-day SEC yield is calculated using the gross expenses of the fund. Gross expenses do not include any fee waivers or reimbursement.

The Barclays US Intermediate Government/Credit Bond Index includes securities which have a remaining maturity of 1-10 years and includes Treasuries (public obligations of the US Treasury that have remaining maturities of more than one year) and agencies (publicly issued debt of US Government agencies, quasi-federal corporations and corporate or foreign debt guaranteed by the US Government), as well as other publicly issued investment grade corporate and non-corporate debentures that meet specified maturity, liquidity, and quality requirements. Indexes are unmanaged and do not incur fees. It is not possible to invest directly in an index.

Primary Benchmark: Barclays US Intermediate Government/Credit Bond Index

Year-to-Date Performance as of 5/24/2013

	Class I	Class R
	0.28%	0.20%

Month-End Performance as of 4/30/2013

Cumulative Total Return	Class I	Class R	Index
3 month	1.33%	1.27%	1.25%
Year-to-date	0.95%	0.87%	0.89%

Average Annualized Total Return	Class I	Class R	Index
1 Year	4.54%	4.28%	3.23%
3 Years	5.25%	5.00%	4.66%
5 Years	6.78%	6.51%	4.90%
10 Years	5.39%	5.09%	4.47%

Quarter-End Performance as of 3/31/2013

Cumulative Total Return	Class I	Class R	Index
3 month	0.19%	0.22%	0.26%
Year-to-date	0.19%	0.22%	0.26%

Average Annualized Total Return	Class I	Class R	Index
1 Year	4.68%	4.52%	3.53%
3 Years	5.38%	5.16%	4.75%
5 Years	6.62%	6.38%	4.61%
10 Years	5.47%	5.18%	4.49%

Gross Expense Ratio: (I) 0.51%, (R) 0.84%; Net Expense Ratio: (I) 0.40%, (R) 0.65% Waivers/reimbursements are contractual and are set to expire 1/31/14.

Lipper Rankings as of 4/30/2013

	Class I	Class R
1 Year	416/606	445/606
3 Years	429/540	N/A
5 Years	134/463	N/A
10 Years	94/319	N/A
Lipper Category: Intermediate Investment Grade Debt Funds

Morningstar Rankings as of 3/31/2013

	Class I	Class R
1 Year	737/1157	772/1157
3 Years	723/1004	783/1004
5 Years	264/877	331/877
10 Years	182/605	245/605
Morningstar Category: Intermediate-Term Bond

Lipper and Morningstar rankings are based on total returns calculated by each ranking entity. Rankings do not take into account sales charges, if applicable, but include reinvestment of dividends and capital gains, if any.

Prior to the inception of Retail Class shares (5/28/10), performance is that of Institutional Class shares, restated to reflect the higher net expenses of Retail Class shares.

Total return assumes reinvestment of dividends and capital gains distributions, if any.

Performance data quoted represents past performance and is no guarantee of future results. Total return and value will vary and you may have a gain or loss when shares are sold. Current performance may be lower or higher than quoted. Returns include changes in share price and reinvestment of dividends and capital gains, if any.

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