Loomis Sayles | Institutional | Inflation Protected Securities Fund

Class I
Class R

Ticker	LSGSX
Class Inception	5/20/1991
CUSIP	543495766
Minimum Initial Investment¹	$100,000
Gross Expense Ratio²	0.85%
Net Expense Ratio²	0.40%
Net Asset Value as of 4/30/2013	11.49
30-Day SEC Yield as of 4/30/2013	-1.01%
Unsubsidized 30-Day SEC Yield as of 4/30/2013³	-1.56%
Fact Sheet Commentary Application Prospectus Report

Ticker	LIPRX
Class Inception	5/28/2010
CUSIP	543495733
Minimum Initial Investment¹	$2,500
Gross Expense Ratio²	1.23%
Net Expense Ratio²	0.65%
Net Asset Value as of 4/30/2013	11.44
30-Day SEC Yield as of 4/30/2013	-1.25%
Unsubsidized 30-Day SEC Yield as of 4/30/2013³	-2.17%
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 Inflation Protected Securities Fund seeks high total investment return

Primary Benchmark:

Barclays US Treasury Inflation Protected Securities Index

Secondary Benchmark:

Barclays Government Bond

Portfolio Management

Elaine Kan, CFA
Kevin Kearns
Maura Murphy, CFA

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

$23.6 million

Lipper Category:

Treasury Inflation Protected Securities

Morningstar Category:

Inflation-Protected Bond

Strategy Highlights

Seeks to generate superior, long-term, risk-adjusted investment performance relative to the Barclays US Treasury Inflation Protected Securities Index
Invests at least 80% of assets in inflation-protected securities, debt securities issued by the US Treasury (TIPS)
May invest up to 10% of assets in lower-rated fixed income securities
May invest in nominal treasury securities, corporate bonds, asset-backed securities and mortgage-related securities
Targeted exposure to inflation protected securities
Potential benefits from bonds denominated in other currencies
Exposure to high yield securities provides additional diversification and may increase yield

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
Although the US Government guarantees the timely payment of principal and interest on most of the funds' underlying securities, the value of fund shares is not guaranteed and will fluctuate
Exchange rate risk between the US dollar and foreign currencies may cause the value of the fund’s investments to decline. Exposure to commodity markets may subject the fund to greater volatility than investments in traditional securities
Derivatives, primarily futures and forward contracts, generally have implied leverage (a small amount of money to make an investment of greater value). Because of this, the fund’s extensive use of derivatives may magnify any gains or losses on those investments as well as risk to the fund

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 Treasury Inflation Protected Securities Index covers the most liquid portion of the global investment grade fixed-rate bond market, including government, credit and collateralized securities. The liquidity constraint for all securities in the index is $300 million. Indexes are unmanaged and do not incur fees. It is not possible to invest directly in an index.

Primary Benchmark: Barclays US Treasury Inflation Protected Securities Index

Secondary Benchmark: Barclays Government Bond

Year-to-Date Performance as of 6/18/2013

	Class I	Class R
	-5.23%	-5.25%

Month-End Performance as of 4/30/2013

Cumulative Total Return	Class I	Class R	Index
3 month	0.88%	0.79%	1.11%
Year-to-date	0.17%	0.09%	0.43%

Average Annualized Total Return	Class I	Class R	Index
1 Year	4.33%	3.99%	4.41%
3 Years	7.79%	7.46%	8.01%
5 Years	6.22%	5.92%	6.51%
10 Years	5.23%	4.91%	6.43%

Quarter-End Performance as of 3/31/2013

Cumulative Total Return	Class I	Class R	Index
3 month	-0.44%	-0.44%	-0.36%
Year-to-date	-0.44%	-0.44%	-0.36%

Average Annualized Total Return	Class I	Class R	Index
1 Year	5.82%	5.57%	5.68%
3 Years	8.48%	8.21%	8.57%
5 Years	5.82%	5.54%	5.89%
10 Years	5.18%	4.87%	6.32%

Gross Expense Ratio: (I) 0.85%, (R) 1.23%; 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	50/181	82/181
3 Years	27/156	N/A
5 Years	33/125	N/A
10 Years	27/34	N/A
Lipper Category: Treasury Inflation Protected Securities

Morningstar Rankings as of 3/31/2013

	Class I	Class R
1 Year	28/197	40/197
3 Years	23/179	42/179
5 Years	27/147	41/147
10 Years	32/40	35/40
Morningstar Category: Inflation-Protected 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. The Fund revised its investment strategies on 12/15/04; performance may have been different had the current investment strategies been in place for all periods shown.

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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