fructi flexible 100 - euronext

, le

FIA de droit français

FRUCTI FLEXIBLE 100Le FIA est un nourricier de l'OPC maître

SEEYOND MULTI ASSET DIVERSIFIED GROWTH

FUND

RAPPORT ANNUEL au 30 juin 2021

Société de gestion : Natixis Investment Managers International

Dépositaire : CACEIS Bank

Commissaire aux comptes : KPMG Audit

Natixis Investment Managers International 43 avenue Pierre Mendès France - 75013 Paris France - Tél. : +33 (0)1 78 40 80 00

www.im.natixis.com

https://www.im.natixis.com/

FRUCTI FLEXIBLE 100 aaaaa 2 aaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa

Sommaire Page

1. Rapport de Gestion 3

a) Politique d'investissement 3

■ Politique de gestion

b) Informations sur l'OPC 5

■ Principaux mouvements dans le portefeuille au cours de l’exercice

■ Changement substantiels intervenus au cours de l'exercice et à venir

■ OPC Indiciel

■ Fonds de fonds alternatifs

■ Réglementation SFTR

■ Accès à la documentation

c) Informations sur les risques 6

■ Méthode de calcul du risque global

■ Effet de levier

■ Exposition à la titrisation

■ Gestion des risques

■ Gestion des liquidités

■ Traitement des actifs non liquides

d) Critères environnementaux, sociaux et gouvernementaux (ESG) 8

e) Loi sur la transition Energétique pour la croissance verte 9

2. Engagements de gouvernance et compliance 10

3. Frais et Fiscalité 28

4. Certification du Commissaire aux comptes 29

5. Comptes de l'exercice 34

6. Annexe(s) 52


1. Rapport de Gestion

a) Politique d'investissement

■ Politique de gestion

Le fonds/compartiments FRUCTI FLEXIBLE 100 investit la totalité de son actif dans les parts/actions M/A de l'OPC maître SEEYOND MULTI ASSET DIVERSIFIED GROWTH FUND et, à titre accessoire, en liquidités.

Performance du fonds et principales contributions

Sur la période, le fonds a enregistré une performance positive de 11.84%. Le fonds a bénéficié de la reprise de risque sur les actions, des thématiques de réflation et de la prudence sur les taux qui ont graduellement été implémentés dès le mois d’octobre suite à des signaux stratégiques quantitatifs et une analyse discrétionnaire devenus plus porteurs. Les actions ont contribué positivement, notamment les actions américaines, de la zone Euro et émergentes. Sur les secteurs, nous avons opté pour une double attitude, value, pro-cyclique pour s’insérer dans la dynamique de reprise mondiale, et opportuniste en fonction des perspectives de bénéfices. Cette stratégie a été favorable au portefeuille. Les taux ont contribué négativement, et le change et les matières premières ont été neutres à légèrement négatifs. Sur les taux, la diversification via les obligations gouvernementales américaines indexées à l’inflation et les positions de pentification sur la courbe des taux américaine a contribué positivement. La volatilité sur le dollar US n’a pas permis au fonds de bénéficier des positions de change à la baisse sur la devise américaine.

Environnement

Après une année d’incertitudes dominée par le risque sanitaire, les investisseurs ont retrouvé l’espoir grâce aux moyens médicaux, fiscaux et monétaires qui ont été votés et dépensés pour remédier d’une part à la pandémie et d’autre part au chaos économique qui a suivi. Les principaux catalyseurs des marchés ont été les suivants : 1- les effets positifs sur les surprises macroéconomiques de la réouverture des pays touchés par le Covid, 2- les espoirs et les annonces officielles de mesures monétaires et fiscales ultra accommodantes aux Etats-Unis mais également en Europe, 3- la victoire de Joe Biden à la Maison Blanche, synonyme de plan de relance massif, réflation et apaisement des relations commerciales internationales, 4- l’accord historique conclu par la Commission Européenne et les vingt-sept pays de l’Union sur un plan de relance européen de 750 mds d’Euros, 5- la robustesse des données économiques américaines et chinoises, 6- un positionnement des investisseurs sur des points bas extrêmes à la fin du mois de septembre et un engouement massif du « retail » américain pour les grands titres technologiques locaux, 6- les nouvelles positives en provenance des tests d’efficacité sur les vaccins anti-Covid, la série des homologations qui ont suivi et le début de la campagne de vaccination mondiale.

Perspectives

A court terme, les profits portent les marchés d’actions. Malgré des révisions fortement haussières ces dernières semaines, les résultats ne déçoivent pas et soutiennent les indices. Chaque mouvement correctif continue à être mis à contribution pour acheter. La structure du skew montre que le marché est protégé et que le risque de correction majeure est par conséquent faible. De plus, la probabilité d’avoir une surprise négative en matière de politique monétaire américaine nous



semble peu élevée à court terme en raison du risque sanitaire persistant aux Etats-Unis lié au variant Delta. Une hausse marquée et rapide des rendements des obligations d’état pour des raisons fondamentales paraît exclue à court terme. Ainsi, si le marché venait à consolider, toutes choses égales par ailleurs, nous l’interpréterions comme une opportunité de repositionnement.

Le risque que nous identifions serait plus une hausse des rendements pour des raisons « mécaniques » liées au calendrier des émissions, mais cela pourrait se faire via une baisse des taux courts et ne pas engendrer une hausse marquée et durable de l’aversion pour le risque. Sera à monitorer également l’impact négatif de la répression croissante du pouvoir de Pékin sur le secteur technologique local.

A plus long terme, les fondamentaux sont voués à s’améliorer partout dans le monde dans les trimestres à venir, en lien avec la hausse des agrégats monétaires mondiaux et le changement de paradigme américain que l’administration Biden veut insuffler. L’atténuation du risque sanitaire post vaccination attendue pour la seconde partie de l’année sera de nature à alimenter un climat de confiance plus propice à l’investissement, tout comme la mise en place effective des volets infrastructures des plans de relance qui devraient être votés dans le courant de l’année pour ce qui est des Etats-Unis, et déployés dans les mois à venir pour ce qui est de l’Union Européenne. Ainsi, les investissements pourraient rapidement prendre le relais des thématiques de réouvertures dans les chiffres macroéconomiques. Tout cela devrait profiter aux bénéfices. Par ailleurs, les programmes de M&A constituent toujours un soutien aux actions, tout comme les dividendes. Seront à monitorer cependant, l’évolution des variants et les durées de protection des vaccins, les discussions autour des lois « anti-trusts » aux Etats-Unis, les élections allemandes, le financement des plans d’investissement aux Etats-Unis, et l’évolution des discours des banquiers centraux mondiaux qui pourraient être source de volatilité au S2.

Les performances passées ne préjugent pas des performances futures.



b) Informations sur l'OPC

■ Principaux mouvements dans le portefeuille au cours de l’exercice

Mouvements ("Devise de comptabilité")Titres

Acquisitions Cessions

SEEYOND M-A DIV GROWTH FD M/A (EUR) 2 674 944,18 5 412 199,53

■ Changement substantiels intervenus au cours de l'exercice et à venir

Cet OPC n’a pas fait l’objet de changements substantiels.

■ OPC Indiciel

Cet OPC ne rentre pas dans la classification des OPC indiciels.

■ Fonds de fonds alternatifs

Cet OPC ne rentre pas dans la classification des fonds de fonds alternatifs.

■ Réglementation SFTR en EUR

Au cours de l’exercice, l’OPC n’a pas fait l’objet d’opérations relevant de la règlementation SFTR.

■ Accès à la documentation

La documentation légale du fonds (DICI, prospectus, rapports périodiques…) est disponible auprès de la société de gestion, à son siège ou à l’adresse e-mail suivante : [email protected]

mailto:[email protected]



c) Informations sur les risques

■ Méthode de calcul du risque global

La méthode de calcul retenue par la Société de gestion pour mesurer le risque global de ce fonds est celle utilisée par lemaître, le compartiment SEEYOND MULTI ASSET DIVERSIFIED GROWTH FUND de la SICAV de droit luxembourgeoisNATIXIS AM FUNDS est en VaR absolue.

■ Effet de levier

- Montant total brut du levier auquel le FIA a recours : 99,95%.

- Montant total net du levier auquel le FIA a recours : 99,95%.

Levier Brut :Cet indicateur mesure la somme des valeurs absolues de toutes les positions, y compris des dérivés qui sont convertis en équivalent sous-jacent qu'ils soient en couverture ou en exposition, et en excluant la trésorerie et ses équivalents.

Levier en engagement (net) :Cet indicateur mesure la somme des valeurs absolues de toutes les positions après conversion en équivalent sous-jacent des dérivés et prise en compte des accords de compensation et/ou couverture. Un résultat inférieur ou égal à 100% indique l'absence de levier du fonds.

■ Exposition à la titrisation

Cet OPC n’est pas concerné par l’exposition à la titrisation.

■ Gestion des risques

Dans le cadre de sa politique de gestion des risques, la société de gestion de portefeuille établit, met en œuvre et maintient opérationnelles une politique et des procédures de gestion des risques efficaces, appropriées et documentées qui permettent d'identifier les risques liés à ses activités, processus et systèmes.

Pour plus d’information, veuillez consulter le DICI de cet OPC et plus particulièrement sa rubrique « Profil de risque et de

rendement » ou son prospectus complet, disponibles sur simple demande auprès de la société de gestion.

■ Gestion des liquidités

La société de gestion de portefeuilles a défini une politique de gestion de la liquidité pour ses OPC ouverts, basée sur des mesures et des indicateurs d’illiquidité et d’impact sur les portefeuilles en cas de ventes forcées suite à des rachats massifs effectués par les investisseurs. Des mesures sont réalisées selon une fréquence adaptée au type de gestion, selon différents scenarii simulés de rachats, et sont comparées aux seuils d’alerte prédéfinis. La liquidité du collatéral fait l’objet d’un suivi hebdomadaire avec des paramètres identiques.



Les OPC identifiés en situation de sensibilité du fait du niveau d’illiquidité constaté ou de l’impact en vente forcée, font l’objet d’analyses supplémentaires sur leur passif, la fréquence de ces tests évoluant en fonction des techniques de gestion employées et/ou des marchés sur lesquels les OPC investissent. A minima, les résultats de ces analyses sont présentés dans le cadre d’un comité de gouvernance.

La société de gestion s’appuie donc sur un dispositif de contrôle et de surveillance de la liquidité assurant un traitement équitable des investisseurs.

Toute modification éventuelle de cette politique en cours d’exercice, ayant impacté la documentation du fonds, sera indiquée dans la rubrique « changements substantiels » du présent document.

■ Traitement des actifs non liquides

Cet OPC n’est pas concerné.



d) Critères environnementaux, sociaux et gouvernementaux (ESG)

L’approche de la gestion responsable par Seeyond

En tant que gestionnaire d’actifs, Seeyond considère de sa responsabilité fiduciaire envers ses clients d’intégrer une politique d’Investissement Responsable dans ses processus d’investissement. Il est en effet important pour nous de mener nos activités d'investissement dans le respect des principes fondamentaux établis sur les principaux référentiels normatifs internationaux, notamment ceux fixés par l’initiative des Nations Unies pour l’Investissement Responsable (UN PRI ou PRI).

De plus, Seeyond offre des stratégies quantitatives qui cherchent une rémunération optimale du risque. Afin d’atteindre cet objectif, Seeyond cherche à appréhender les risques dans leur globalité. En cohérence avec cette ambition, Seeyond prend en compte les risques financiers mais aussi les risques extra-financiers afin d’analyser tous les risques qui pourraient peser sur les profils de rendement-risque des portefeuilles que nous gérons. Cette approche s’inscrit dans la démarche continue d’amélioration de nos pratiques en tant que gestionnaire d’actifs et nos engagements en tant que signataire des Principes pour l’Investissement Responsable des Nations Unies.

La démarche de Seeyond se caractérise par la mise en œuvre de politiques d’exclusion et par un engagement continu dans le cadre de l’exercice du droit de vote.

L’intégration des dimensions ESG au sein des processus de la gestion Flexible

Cet OPC est géré selon un processus d’allocation pure et non de sélection de titres. Seeyond ne prend pas en compte, à ce stade, les dimensions ESG dans ce type de gestion mais réfléchit à leur possible intégration dans la mesure où elle s’inscrirait de façon pertinente dans une approche quantitative de la gestion de portefeuille.



e) Loi sur la transition Energétique pour la croissance verte

Cet OPC n’est pas concerné par la réglementation sur la Loi de Transition Energétique pour la croissance verte.


2. Engagements de gouvernance et compliance

■ Procédure de sélection et d'évaluation des intermédiaires et contreparties - Exécution des ordres

Dans le cadre du respect par la Société de gestion de son obligation de « best execution », la sélection et le suivi des intermédiaires taux, des brokers actions et des contreparties sont encadrés par un processus spécifique.La politique de sélection des intermédiaires/contreparties et d’exécution des ordres de la société de gestion est disponible sur son site internet : https://www.im.natixis.com/fr/resources/politique-selection-des-intermediaires.

■ Politique de vote

Le détail des conditions dans lesquelles la Société de gestion entend exercer les droits de vote attachés aux titres détenus en portefeuille par les fonds qu’elle gère, ainsi que le dernier compte-rendu annuel sont consultables au siège de la Société ou sur son site internet : https://www.im.natixis.com/fr/resources/natixis-investment-managers-international-rapport-sur-lexercice-des-droits-de-vote.

■ Politique de rémunération de la société de gestion délégante

La présente politique de rémunération de NIMI est composée de principes généraux applicables à l’ensemble des collaborateurs (cf. point I), de principes spécifiques applicables à la population identifiée par AIFM et UCITS V (cf. point II) et d’un dispositif de gouvernance applicable à l’ensemble des collaborateurs (cf. point III).Elle s’inscrit dans le cadre de la politique de rémunération définie par NATIXIS et elle est établie en conformité avec les dispositions relatives à la rémunération figurant dans les textes réglementaires suivants, ainsi que les orientations de l’European Securities and Markets Authority (ESMA) et les positions de l’Autorité des Marchés Financiers (AMF) qui en découlent :- Directive 2011/61/UE du Parlement Européen et du Conseil du 8 juin 2011 sur les gestionnaires de fonds d’investissement alternatifs, transposée dans le Code Monétaire et Financier par l’Ordonnance n°2013-676 du 27 juillet 2013 (« Directive AIFM »).- Directive 2014/91/UE du Parlement Européen et du Conseil du 23 juillet 2014 sur les organismes de placement collectif en valeurs mobilières (OPCVM), transposée dans le Code Monétaire et Financier par l’Ordonnance n°2016-312 du 17 mars 2016 (« Directive UCITS V »).- Directive 2014/65/UE du Parlement Européen et du Conseil du 15 mai 2014 concernant les marchés d’instruments financiers, transposée dans le Code Monétaire et Financier par l’Ordonnance n°2016-827 du 23 juin 2016, complétée par le Règlement Délégué 2017/565/UE du 25 avril 2016 (« Directive MIFII »).- Règlement (UE) 2019/2088 du Parlement Européen et du Conseil du 27 novembre 2019 sur la publication d’informations en matière de durabilité dans le secteur des services financiers.

I- PRINCIPES GENERAUX DE LA POLITIQUE DE REMUNERATION

La politique de rémunération est un élément stratégique de la politique de NIMI. Outil de mobilisation et d’engagement des collaborateurs, elle veille, dans le cadre d’un strict respect des grands équilibres financiers et de la règlementation, à être compétitive et attractive au regard des pratiques de marché.

https://www.im.natixis.com/fr/resources/politique-selection-des-intermediaires

https://www.im.natixis.com/fr/resources/natixis-investment-managers-international-rapport-sur-lexercice-des-droits-de-vote

https://www.im.natixis.com/fr/resources/natixis-investment-managers-international-rapport-sur-lexercice-des-droits-de-vote



La politique de rémunération de NIMI, qui s’applique à l’ensemble des collaborateurs, intègre dans ses principes fondamentaux l’alignement des intérêts des collaborateurs avec ceux des investisseurs :- Elle est cohérente et favorise une gestion saine et efficace du risque et n'encourage pas une prise de risque qui serait incompatible avec les profils de risque, le règlement ou les documents constitutifs des produits gérés.- Elle est conforme à la stratégie économique, aux objectifs, aux valeurs et aux intérêts de la société de gestion et des produits qu'elle gère et à ceux des investisseurs, et comprend des mesures visant à éviter les conflits d'intérêts.

La politique de rémunération englobe l’ensemble des composantes de la rémunération, qui comprennent la rémunération fixe et, le cas échéant, la rémunération variable.

La rémunération fixe rétribue les compétences, l’expérience professionnelle et le niveau de responsabilité. Elle tient compte des conditions de marché.

La rémunération variable est fonction de l’évaluation de la performance collective, mesurée à la fois au niveau de la société de gestion et des produits gérés, et de la performance individuelle. Elle tient compte d’éléments quantitatifs et qualitatifs, qui peuvent être établis sur base annuelle ou pluriannuelle.

I-1. Définition de la performance

L’évaluation objective et transparente de la performance annuelle et pluriannuelle sur la base d’objectifs prédéfinis est le prérequis de l’application de la politique de rémunération de NIMI. Elle assure un traitement équitable et sélectif des collaborateurs. Cette évaluation est partagée entre le collaborateur et son manager lors d’un entretien individuel d’évaluation.

La contribution et le niveau de performance de chacun des collaborateurs sont évalués au regard de sesfonctions, de ses missions et de son niveau de responsabilité dans la société de gestion. Dans ce cadre, la politique de rémunération distingue plusieurs catégories de personnel :

- Le Comité de direction est évalué sur sa contribution à la définition et la mise en œuvre de la stratégie de la société de gestion, cette stratégie s’inscrivant dans celle de la plateforme internationale de distribution et dans celle de Dynamic Solutions. Le Comité de direction est également évalué sur sa capacité à développer les performances des offres de produits et de services, sur la performance de l’activité de distribution, et plus globalement sur le développement du modèle multi-boutiques du groupe, ainsi que sur la performance financière ajustée des risques sur son périmètre de supervision.Pour cette catégorie, la performance s’apprécie annuellement au travers d’indicateurs quantitatifs liés à l’évolution des résultats économiques de NIMI et des activités supervisées ainsi que d’une contribution à la performance globale de NATIXIS IM. La performance s’apprécie également à travers l’atteinte d’objectifs qualitatifs tels que la qualité du management et/ou la responsabilité/contribution à des chantiers transversaux.



- Les fonctions de support sont évaluées sur leur capacité à accompagner proactivement les enjeux stratégiques de la société de gestion. La performance individuelle est appréciée annuellement par l’atteinte d’objectifs qualitatifs tels que la qualité de l’activité récurrente et/ou du degré de participation à des chantiers transversaux ou à des projets stratégiques/réglementaires. Ces objectifs sont définis annuellement en cohérence avec ceux de NIMI et ceux de la plateforme internationale de distribution et, le cas échéant, de Dynamic Solutions.

- L’évaluation de la performance des fonctions de contrôle repose sur l’appréciation de critères qualitatifs uniquement tels que la participation à des chantiers transversaux ou à des projets stratégiques/réglementaires, définis annuellement, afin de ne pas compromettre leur indépendance, ni créer de conflit d’intérêt avec les activités qu’ils contrôlent.

- La performance des fonctions de gestion est évaluée selon un critère quantitatif liés à la génération de valeur par l’allocation, complété de critères qualitatifs.Le critère quantitatif reflète les enjeux de développement des performances de gestion recherchés par les investisseurs sans toutefois autoriser une prise de risque excessive pouvant avoir une incidence sur le profil de risque de NIMI et/ou des produits gérés.Ce critère quantitatif est calculé sur une période prédéfinie en ligne avec l’horizon de performance ajustée des risques des fonds gérés et de la société de gestion.Des critères spécifiques intégrant les risques en matière de durabilité, i.e. les enjeux sociaux, environnementaux et de gouvernance, doivent enfin être définis pour l’ensemble des collaborateurs des équipes de gestion.

- L’évaluation de performance des fonctions de gestion de dette privée sur actifs réels repose sur deux critères (un quantitatif, un qualitatif) dont la bonne réalisation concourt à la fois à l’intérêt de la société de gestion et des clients investisseurs dans les fonds et stratégies gérés par l’équipe.Le critère quantitatif consiste à mesurer le montant de fonds levés auprès des investisseurs et reflète la participation de chaque gérant au développement des encours sous gestion, générateurs de revenus pour l’activité. Le critère qualitatif vise à s’assurer que les investissements réalisés pour le compte des clients l’ont été selon l’application stricte des critères d’investissement définis avec ces derniers. Il a aussi pour objectif de s’assurer, lors de l’investissement et pendant toute la durée de détention de ces transactions, que le gérant a identifié les facteurs de risques de façon exhaustive, et anticipée. En cas de survenance d’un des facteurs de risque, il sera tenu compte de la pertinence des mesures de remédiation qui seront exécutées avec diligence et dans le seul intérêt de l’investisseur. De manière plus spécifique, ce facteur ne consiste pas à pénaliser le gérant en raison de l’occurrence d’un événement de crédit (le risque de crédit est en effet consubstantiel à cette activité). Il vise à assurer les clients qu’une analyse exhaustive des risques et de ses facteurs d’atténuation a été réalisée ab initio, puis grâce à un process de contrôle, pendant toute la durée de détention des investissements. Il permet de mettre en œuvre une réaction réfléchie et efficace, dans le cas d’un événement de crédit, afin d’en neutraliser ou limiter l’impact pour l’investisseur.

- L’évaluation de la performance des fonctions de distribution repose sur l’appréciation de critères quantitatifs et qualitatifs. Les critères quantitatifs s’appuient sur la collecte brute, la collecte nette, le chiffre d’affaires, la rentabilité des encours et leurs évolutions. Les critères qualitatifs incluent notamment la diversification et le développement du fonds de commerce (nouveaux clients ; nouveaux affiliés ; nouvelles expertises ;…) et la prise en compte conjointe des intérêts de NIMI et de ceux des clients.



L’évaluation de la performance intègre, pour toutes les catégories de personnel, des critères qualitatifs.Ces critères qualitatifs intègrent toujours le respect de la règlementation et des procédures internes en matière de gestion des risques et de respect de la conformité de NIMI.

Ils peuvent par ailleurs porter sur la qualité de la relation avec les clients incluant le niveau d’expertise et de conseil apportés, la contribution à la fiabilisation d’un processus, la participation à un projet transversal, la contribution au développement de nouvelles expertises, la participation au développement de l’efficacité opérationnelle ou tous autres sujets définis en déclinaison des objectifs stratégiques de NIMI.

Pour chaque catégorie de personnel, l’ensemble des objectifs quantitatifs et qualitatifs sont définis et communiqués individuellement en début d’année, en déclinaison des objectifs stratégiques de NIMI.

I-2. Composantes de la rémunération

I-2.1. Rémunération fixe

NIMI veille à maintenir un niveau de rémunération fixe suffisant pour rémunérer l’activité professionnelle des collaborateurs.

La rémunération fixe rémunère les compétences, l’expérience professionnelle et le niveau de responsabilité attendus dans une fonction.

Le positionnement des rémunérations fixes est étudié périodiquement pour s’assurer de sa cohérence vis-à-vis des pratiques de marché géographiques et professionnelles.

La revalorisation des salaires fixes est analysée une fois par an dans le cadre de la revue annuelle des rémunérations. En dehors de cette période, seuls les cas de promotion, de mobilité professionnelle ou de situation individuelle exceptionnelle peuvent donner lieu à une revalorisation.

I-2.2. Rémunération variable

Les enveloppes de rémunérations variables sont définies en fonction des résultats annuels de NIMI, de la plateforme internationale de distribution, de Dynamic Solutions mais également en fonction d’éléments qualitatifs, comme les pratiques des entreprises concurrentes, les conditions générales de marché dans lesquelles les résultats ont été obtenus et les facteurs qui ont pu influer de manière temporaire sur la performance du métier.

Les rémunérations variables, qui peuvent être attribuées le cas échéant, rémunèrent une performance annuelle individuelle s’inscrivant dans le cadre d’une performance collective.

Les rémunérations variables collectives de NIMI sont constituées d’un dispositif d’intéressement et de participation, associé à un plan d’épargne d’entreprise (PEE) et à un plan d’épargne retraite collectif (PERCOL). Les collaborateurs peuvent bénéficier, dans le cadre de ces plans, d’un dispositif d’abondement.



Ces rémunérations variables collectives n’ont aucun effet incitatif sur la gestion des risques de NIMI et/ou des produits gérés et n’entrent pas dans le champ d’application des directives AIFM ou UCITS V.

Dans le respect des enveloppes globales de rémunérations variables, les rémunérations variables individuelles sont attribuées, dans le cadre de la revue annuelle des rémunérations, de manière discrétionnaire objectivée au regard de l’évaluation d’une performance individuelle et de la manière dont cette performance est atteinte. La rémunération variable attribuée aux collaborateurs est impactée en cas de gestion inappropriée des risques et de la conformité, ou de non-respect de la réglementation et des procédures internes sur l’année considérée (cf. I-1. ci-dessus).

La population identifiée est soumise à des obligations spécifiques en matière de respect des règles de risques et de conformité. Le non-respect de ces obligations peut entraîner une diminution partielle ou totale de l’attribution de la rémunération variable individuelle.

En cas de perte ou de baisse significative de ses résultats, NIMI peut également décider de réduire voire d’annuler en totalité l’enveloppe attribuée aux rémunérations variables individuelles, ainsi que, le cas échéant, les échéances en cours d’acquisition au titre de rémunérations variables déjà attribuées et différées.

De même, en cas de concrétisation d’un risque majeur en matière de durabilité, i.e. de survenance d’un événement ou d’une situation dans le domaine environnemental, social ou de la gouvernance qui aurait une incidence négative significative et durable sur la valeur des fonds/produits gérés, l’enveloppe attribuée aux rémunérations variables individuelles pourra être réduite voire annulée, ainsi que, le cas échéant, les échéances en cours d’acquisition au titre de rémunérations variables déjà attribuées et différées.

Aucune garantie contractuelle n’encadre les rémunérations variables, à l’exclusion parfois de rémunérations variables attribuées pour une première année d’exercice dans le cadre d’un recrutement externe.

Les dispositifs de type « parachute doré » sont prohibés. Les paiements liés à la résiliation anticipée du contrat de travail sont définis en fonction des dispositions légales (indemnités légales et conventionnelles) et des performances du bénéficiaire, de son activité d’appartenance et de l’ensemble de la société de gestion réalisées sur la durée et ils sont conçus de manière à ne pas récompenser l’échec.

La rémunération variable n’est pas versée par le biais d’instruments ou de méthodes qui facilitent le contournement des exigences établies dans la réglementation.

I-2.3. Dispositif de fidélisation des collaborateurs clés

NIMI souhaite pouvoir garantir à ses investisseurs la stabilité de ses équipes.

Pour ce faire, un dispositif de rémunération différée a été intégré aux politiques de rémunération.

Ce dispositif conduit, au-delà d’un certain seuil de variable, à allouer une part de la rémunération variable sous la forme de numéraire indexé sur l’évolution de la performance financière consolidée de NATIXIS IM mesurée par son Résultat Courant Avant Impôt (RCAI), constatée chaque année sur une période de 3 ans minimum. La part de rémunération variable



ainsi différée est acquise par tranches égales sur une période de 3 ans minimum et permet d’associer les collaborateurs aux performances de NATIXIS IM. Le taux de rémunération variable différée résulte de l’application d’une table de différés.

Ce dispositif est soumis à des conditions de conditions de présence et d’absence de comportement hors norme pouvant avoir un impact sur le niveau de risque de NIMI. L’acquisition de ces tranches peut faire l’objet d’une restitution en tout ou partie, afin de garantir un ajustement des risques a posteriori.

I-2.4. Equilibre entre rémunération fixe et variable

NIMI s’assure qu’il existe un équilibre approprié entre les composantes fixe et variable de la rémunération globale et que la composante fixe représente une part suffisamment élevée de la rémunération globale pour qu’une politique pleinement souple puisse être exercée en matière de composantes variables de la rémunération, notamment la possibilité de ne payer aucune composante variable. L’ensemble des situations individuelles, pour lesquelles la rémunération variable représente plus d’une fois la rémunération fixe et qui peuvent s’expliquer par la pratique de marché et/ou un niveau de responsabilités, de performance et de comportement exceptionnel, sont documentées par la Direction des ressources humaines dans le cadre de la revue annuelle des rémunérations.

II- DECLINAISON DU DISPOSITIF APPLICABLE A LA POPULATION IDENTIFIEE AU TITRE D’AIFM ET/OU UCITS V

II-1. Population identifiée

Conformément aux dispositions réglementaires, la population identifiée de NIMI comprend les catégories de personnel, y compris la direction générale, les preneurs de risques et les personnes exerçant une fonction de contrôle, ainsi que tout employé qui, au vu de sa rémunération globale, se situe dans la même tranche de rémunération que la direction générale et les preneurs de risques, dont les activités professionnelles ont une incidence significative sur le profil de risque de la société de gestion et/ou des produits gérés par celle-ci. Ces personnes sont identifiées en fonction de leur activité professionnelle, de leur niveau de responsabilité ou de leur niveau de rémunération totale.

Dans une perspective de cohérence et d’harmonisation, NIMI a décidé de mettre en œuvre le dispositif applicable à la population identifiée sur l’ensemble du périmètre des produits gérés (mandats, OPCVM et AIF).

Les catégories de population suivantes sont notamment identifiées :- Les membres de l’organe de direction,- Les membres du personnel responsables de la gestion de portefeuille,- Les responsables des fonctions de contrôle (risques, conformité et contrôle interne),- Les responsables des activités de support ou administratives,- Les autres preneurs de risques,- Les collaborateurs qui, au vu de leur rémunération globale, se situent dans la même tranche de rémunération que la direction générale et les preneurs de risques.

Chaque année, en amont de la revue annuelle des rémunérations, la Direction des ressources humaines détermine et formalise la méthodologie d’identification et le périmètre de la population identifiée de NIMI, en lien avec le Directeur des contrôles permanents.



Le périmètre de l’ensemble de la population identifiée est ensuite validé par la Direction générale de NIMI puis remonté à son Conseil d’administration dans son rôle de fonction de surveillance, et enfin présenté au Comité des rémunérations de NATIXIS.L’ensemble du processus d’identification est documenté et archivé par la Direction des ressources humaines. Les collaborateurs concernés sont en outre informés de leur statut.

II-2. Dispositif applicable aux rémunérations variables attribuées à la population identifiée

En conformité avec la réglementation et afin de garantir l’alignement entre les collaborateurs et les investisseurs et la société de gestion, la rémunération variable de la population identifiée, dès lors qu’elle dépasse un certain seuil, est pour partie différée et pour partie attribuée sous forme d’instrument financier sur une période de 3 ans minimum, avec une acquisition prorata temporis.

La proportion de la rémunération variable, qui est différée sur 3 ans, croît avec le montant de rémunération variable attribuée et peut atteindre 60% pour les rémunérations les plus élevées de NIMI. Actuellement, les modalités d’application du différé sont les suivantes :- Jusqu'à 199 K€ de rémunération variable : pas de différé,- Entre 200 K€ et 499 K€ : 50% de différé au 1er euro,- A partir de 500 K€ : 60% de différé au 1er euro.

Les seuils de déclenchement des rémunérations variables différées sont susceptibles d’évolution en fonction de la réglementation ou d’évolution des politiques internes. Dans ce cas, les nouveaux seuils définis sont soumis à l’approbation du Comité de direction de NIMI et du Comité des rémunérations de NATIXIS.

La rémunération variable est en outre attribuée à hauteur de 50% minimum en instrument financier ayant la forme de numéraire indexé : Pour les équipes qui participent directement à la gestion de portefeuille, à l’exception des équipes de gestion de dette privée sur actifs réels, sur la performance d’un panier de produits gérés par NIMI. Pour les équipes qui ne participent pas directement à la gestion de portefeuille et pour les équipes de gestion de dette privée sur actifs réels, sur l’évolution de la performance financière consolidée de NATIXIS IM mesurée par son Résultat Courant Avant Impôt (RCAI), constatée chaque année sur une période de 3 ans minimum.

L’acquisition de la part de la rémunération variable, qui est différée, est soumise à des conditions de présence, de performance financière consolidée de NATIXIS IM et d’absence de comportement hors norme pouvant avoir un impact sur le niveau de risque de NIMI et/ou des produits gérés.

Cette acquisition est également soumise à des obligations en matière de respect des règles de risques et de conformité. Le non-respect de ces obligations peut entraîner une diminution partielle ou totale de l’acquisition. Elle peut enfin faire l’objet d’une restitution en tout ou partie, afin de garantir un ajustement des risques a posteriori.

Les collaborateurs bénéficiant d’une rémunération variable différée ont l’interdiction de recourir, sur la totalité de la période d’acquisition, à des stratégies individuelles de couverture ou d’assurance.



Les modalités et conditions de détermination, de valorisation, d’attribution, d’acquisition et de paiement de de la rémunération variable différée en équivalent instrument financier sont détaillées dans les Long Term Incentive Plans (LTIP) de NIMI et de NATIXIS IM.

III- GOUVERNANCE

Les principes généraux et spécifiques de la politique de rémunération sont définis et formalisés par la Direction des ressources humaines de NIMI en cohérence avec la politique applicable au sein de la plateforme internationale de distribution.

La Direction des contrôles permanents et la Direction des risques de NIMI ont pour leur part un rôle actif dans l’élaboration, la surveillance continue et l’évaluation de la politique de rémunération. Elles sont ainsi impliquées dans la détermination de la stratégie globale applicable à la société de gestion, aux fins de promouvoir le développement d’une gestion des risques efficace. A ce titre, elles interviennent dans la détermination du périmètre de population identifiée. Elles sont aussi en charge de l’évaluation de l’incidence de la structure de rémunération variable sur le profil de risque des gestionnaires.

La politique de rémunération de NIMI est validée par le Conseil d’administration de NIMI, dans son rôle de fonction de surveillance.

Les principes généraux et spécifiques, les modalités d’application et données chiffrées de la politique de rémunération, comprenant la population identifiée et les rémunérations les plus élevées, sont approuvés successivement, de manière détaillée, par les membres du Comité de direction de NIMI, puis par un Comité intermédiaire, établi au niveau de la Fédération, ensemble qui regroupe toutes les fonctions de distribution, de support et de contrôle du Groupe NATIXIS IM et qui intègre notamment NIMI. Ce Comité intermédiaire réunit la Direction générale de NIMI et la Direction générale de NATIXIS IM. Cette dernière soumet ensuite, sous un format plus synthétique, les éléments ci-dessus à l’approbation de la Direction générale de NATIXIS, qui remonte en dernier lieu au Comité des rémunérations de NATIXIS.



NIMI, qui n’a pas de Comité des rémunérations en propre mais qui appartient au Groupe NATIXIS, reporte en effet au Comité des rémunérations de NATIXIS.Le Comité des rémunérations de NATIXIS est établi et agit en conformité avec la réglementation1 :- Tant dans sa composition : indépendance et expertise de ses membres, dont la majorité, en ce compris son Président, n’exercent pas de fonctions exécutives au sein de NIMI, sont externes au Groupe NATIXIS et sont donc totalement indépendants.- Que dans l’exercice de ses missions, qui plus spécifiquement sur les sociétés de gestion comprennent les rôles suivants :o Recommandation et assistance du Conseil d’administration pour l’élaboration et la mise en œuvre de la politique de rémunération de la société de gestion.o Assistance du Conseil d’administration dans la supervision de l’élaboration et du fonctionnement du système de rémunération de la société de gestion.o Attention particulière accordée à l’évaluation des mécanismes adoptés pour garantir la prise en compte de façon appropriée par le système de rémunération de toutes les catégories de risques, de liquidités et les niveaux d’actifs sous gestion et la compatibilité de la politique de rémunération avec la stratégie économique, les objectifs, les valeurs et les intérêts de la société de gestion et des produits gérés avec ceux des investisseurs.

Dans ce cadre, les principes généraux et spécifiques, la conformité de la politique de rémunération de NIMI avec les réglementations auxquelles elle est soumise et les modalités d’application et données chiffrées de synthèse de sa politique de rémunération, comprenant la population identifiée et les rémunérations les plus élevées, sont soumis en dernière instance à la revue du Comité des rémunérations de NATIXIS, puis approuvés par son Conseil d’administration, dans son rôle de fonction de surveillance.

La rémunération du Directeur général de NIMI est déterminée par la Direction générale de NATIXIS IM et de NATIXIS, puis présentée au Comité des rémunérations de NATIXIS.

Les rémunérations des Directeurs des risques et de la conformité de NIMI sont revues, dans le cadre des revues indépendantes menées par les filières risques et conformité, par les Directeurs des risques et de la conformité de NATIXIS IM. Elles sont ensuite soumises au Comité des rémunérations de NATIXIS.In fine, l’ensemble des rôles attribués aux comités des rémunérations et prévus par les textes réglementaires sont en pratique remplis par le Comité intermédiaire établi au niveau de la Fédération, qui intègre NIMI, et/ou par le Comité des rémunérations de NATIXIS.

Les principes généraux et spécifiques de la politique de rémunération sont communiqués en interne à l’ensemble des collaborateurs et aux membres du comité d’entreprise. NIMI se conforme également à l’ensemble de ses obligations en matière de publicité externe.

L’ensemble de ce processus de revue, de validation et de communication a lieu chaque année. Il intègre les éventuelles évolutions réglementaires et contextuelles et se fait en cohérence avec la politique de rémunération de NATIXIS.

1 Pour plus de détail sur la composition et le rôle du Comité des rémunérations de NATIXIS, voir le Document de référence de la société.



Enfin, l’ensemble de la politique de rémunération de NIMI fait l’objet d’une revue annuelle centralisée et indépendante par la Direction de l’Audit interne de NATIXIS IM.

Quand NIMI délègue la gestion financière d’un des portefeuilles dont elle est société de gestion à une autre société de gestion, elle s’assure du respect des réglementations en vigueur par cette société délégataire.

Rémunération versée au titre du dernier exercice

Le montant total des rémunérations pour l’exercice, ventilé en rémunérations fixes et rémunérations variables, versées par la société de gestion à son personnel, et le nombre de bénéficiaires :

Rémunérations fixes 2020* : 26 721 199 €Rémunérations variables attribuées au titre de 2020 : 9 920 866 €Effectifs concernés : 359 collaborateurs*Rémunérations fixes théoriques en ETP au 31 décembre 2020

Le montant agrégé des rémunérations, ventilé entre les cadres supérieurs et les membres du personnel de la société de gestion dont les activités ont une incidence significative sur le profil de risque de la société de gestion et/ou des portefeuilles :

Rémunération totale attribuée au titre de 2020 : 9 858 757 € dont,- Cadres supérieurs : 4 669 512 €- Membres du personnel : 5 189 245 €Effectifs concernés : 53



■ Politique de rémunération de la société de gestion délégante

La présente politique de rémunération de SEEYOND est composée (i) de principes généraux applicables à l’ensemble des collaborateurs (cf. point I), de principes spécifiques applicables à la population identifiée par AIFM et UCITS V (cf. point II) et d’un dispositif de gouvernance applicable à l’ensemble des collaborateurs (cf. point III).

Elle s’inscrit dans le cadre de la politique de rémunération définie par NATIXIS et elle est établie en conformité avec les dispositions relatives à la rémunération figurant dans les textes réglementaires suivants, ainsi que les orientations de l’European Securities and Markets Authority (ESMA) et les positions de l’Autorité des Marchés Financiers (AMF) qui en découlent : - Directive 2011/61/UE du Parlement Européen et du Conseil du 8 juin 2011 sur les gestionnaires de fonds d’investissement alternatifs, transposée dans le Code Monétaire et Financier par l’Ordonnance n°2013-676 du 27 juillet 2013 (« Directive AIFM »).- Directive 2014/91/UE du Parlement Européen et du Conseil du 23 juillet 2014 sur les organismes de placement collectif en valeurs mobilières (OPCVM), transposée dans le Code Monétaire et Financier par l’Ordonnance n°2016-312 du 17 mars 2016 (« Directive UCITS V »).- Directive 2014/65/UE du Parlement Européen et du Conseil du 15 mai 2014 concernant les marchés d’instruments financiers, transposée dans le Code Monétaire et Financier par l’Ordonnance n°2016-827 du 23 juin 2016, complétée par le Règlement Délégué 2017/565/UE du 25 avril 2016 (« Directive MIFII »).

I- PRINCIPES GENERAUX DE LA POLITIQUE DE REMUNERATION

La politique de rémunération est un élément stratégique de la politique de SEEYOND. Outil de mobilisation et d’engagement des collaborateurs, elle veille, dans le cadre d’un strict respect des grands équilibres financiers et de la règlementation, à être compétitive et attractive au regard des pratiques de marché.

La politique de rémunération de SEEYOND, qui s’applique à l’ensemble des collaborateurs, intègre dans ses principes fondamentaux l’alignement des intérêts des collaborateurs avec ceux des investisseurs :- Elle est cohérente et favorise une gestion saine et efficace du risque et n'encourage pas une prise de risque qui serait incompatible avec les profils de risque, le règlement ou les documents constitutifs des produits gérés.- Elle est conforme à la stratégie économique, aux objectifs, aux valeurs et aux intérêts de la société de gestion et des produits qu'elle gère et à ceux des investisseurs, et comprend des mesures visant à éviter les conflits d'intérêts.

La politique de rémunération englobe l’ensemble des composantes de la rémunération, qui comprennent la rémunération fixe et, le cas échéant, la rémunération variable.

La rémunération fixe rétribue les compétences, l’expérience professionnelle et le niveau de responsabilité. Elle tient compte des conditions de marché.

La rémunération variable est fonction de l’évaluation de la performance collective, mesurée à la fois au niveau de la société de gestion et des produits gérés, et de la performance individuelle. Elle tient compte d’éléments quantitatifs et qualitatifs, qui peuvent être établis sur base annuelle ou pluriannuelle.



I-1. Définition de la performance

L’évaluation objective et transparente de la performance annuelle et pluriannuelle sur la base d’objectifs prédéfinis est le prérequis de l’application de la politique de rémunération de SEEYOND. Elle assure un traitement équitable et sélectif des collaborateurs. Cette évaluation est partagée entre le collaborateur et son manager lors d’un entretien individuel d’évaluation.

La contribution et le niveau de performance de chacun des collaborateurs sont évalués au regard de ses fonctions, de ses missions et de son niveau de responsabilité dans la société de gestion. Dans ce cadre, la politique de rémunération distingue plusieurs catégories de personnel :

- Le Comité exécutif est évalué sur sa contribution à la définition et la mise en œuvre de la stratégie de la société de gestion et sur sa capacité à développer les performances des offres de produits et de services et la performance financière ajustée des risques sur son périmètre de supervision. Pour cette catégorie, la performance s’apprécie annuellement au travers d’indicateurs quantitatifs, tels que l’évolution des résultats financiers de SEEYOND et des activités supervisées ainsi que d’éléments qualitatifs tels que la qualité du management et/ou la responsabilité/contribution à des chantiers transversaux.

- Les fonctions de support sont évaluées sur leur capacité à accompagner les enjeux stratégiques de la société de gestion. La performance individuelle est appréciée annuellement en fonction de la qualité de l’activité récurrente et/ou du degré de participation à des chantiers transversaux ou à des projets stratégiques/réglementaires.

- L’évaluation de la performance des fonctions de contrôle repose sur l’appréciation de critères qualitatifs uniquement tels que la participation à des chantiers transversaux ou à des projets stratégiques/réglementaires, définis annuellement, afin de ne pas compromettre leur indépendance, ni créer de conflit d’intérêt avec les activités qu’ils contrôlent.

- La performance des fonctions de gestion est évaluée selon des critères quantitatifs, complétés d’un ou plusieurs critères qualitatifs. Les critères quantitatifs reflètent les enjeux de développement des performances de gestion recherchés par les investisseurs sans toutefois autoriser une prise de risque excessive pouvant avoir une incidence sur le profil de risque de SEEYOND et/ou des produits gérés. Ces critères quantitatifs sont calculés sur une période prédéfinie en ligne avec l’horizon de performance ajustée des risques des fonds gérés et de la société de gestion.

L’évaluation de la performance intègre, pour toutes les catégories de personnel, des critères qualitatifs. Ces critères qualitatifs intègrent toujours le respect de la règlementation et des procédures internes en matière de gestion des risques et de respect de la conformité de SEEYOND.Ils peuvent par ailleurs porter sur la qualité de la relation avec les clients incluant le niveau d’expertise et de conseil apportés, la contribution à la fiabilisation d’un processus, la participation à un projet transversal, la contribution au développement de nouvelles expertises, la participation au développement de l’efficacité opérationnelle ou tous autres sujets définis en déclinaison des objectifs stratégiques de SEEYOND.



Pour chaque catégorie de personnel, l’ensemble des objectifs quantitatifs et qualitatifs sont définis et communiqués individuellement en début d’année, en déclinaison des objectifs stratégiques de SEEYOND.

I-2. Composantes de la rémunération

I-2.1. Rémunération fixe

SEEYOND veille à maintenir un niveau de rémunération fixe suffisant pour rémunérer l’activité professionnelle des collaborateurs.

La rémunération fixe rémunère les compétences, l’expérience professionnelle et le niveau de responsabilité attendus dans une fonction.

Le positionnement des rémunérations fixes est étudié périodiquement pour s’assurer de sa cohérence vis-à-vis des pratiques de marché géographiques et professionnelles.

La revalorisation des salaires fixes est analysée une fois par an dans le cadre de la revue annuelle des rémunérations. En dehors de cette période, seuls les cas de promotion, de mobilité professionnelle ou de situation individuelle exceptionnelle peuvent donner lieu à une revalorisation.

I-2.2. Rémunération variable

Les enveloppes de rémunérations variables sont définies en fonction des résultats annuels de SEEYOND mais également en fonction d’éléments qualitatifs, comme les pratiques des entreprises concurrentes, les conditions générales de marché dans lesquelles les résultats ont été obtenus et les facteurs qui ont pu influer de manière temporaire sur la performance du métier.

Les rémunérations variables, qui peuvent être attribuées le cas échéant, rémunèrent une performance annuelle, collective et/ou individuelle.

Les rémunérations variables collectives de SEEYOND sont constituées d’un dispositif d’intéressement et de participation, associé à un plan d’épargne d’entreprise (PEE) et à un plan d’épargne retraite collectif (PERCO). Les collaborateurs peuvent bénéficier, dans le cadre de ces plans, d’un dispositif d’abondement.

Ces rémunérations variables collectives n’ont aucun effet incitatif sur la gestion des risques de SEEYOND et/ou des produits gérés et n’entrent pas dans le champ d’application des directives AIFM ou UCITS V.

Dans le respect des enveloppes globales de rémunérations variables, les rémunérations variables individuelles sont attribuées, dans le cadre de la revue annuelle des rémunérations, de manière discrétionnaire objectivée au regard de l’évaluation d’une performance individuelle et de la manière dont cette performance est atteinte. La rémunération variable attribuée aux collaborateurs est impactée en cas de gestion inappropriée des risques et de la conformité, ou de non-respect de la réglementation et des procédures internes sur l’année considérée (cf. I-1. ci-dessus).



La population identifiée est soumise à des obligations spécifiques en matière de respect des règles de risques et de conformité. Le non-respect de ces obligations peut entraîner une diminution partielle ou totale de l’attribution de la rémunération variable individuelle.

En cas de perte ou de baisse significative de ses résultats, SEEYOND peut également décider de réduire voire d’annuler en totalité l’enveloppe attribuée aux rémunérations variables individuelles, ainsi que, le cas échéant, les échéances en cours d’acquisition au titre de rémunérations variables déjà attribuées et différées.

Aucune garantie contractuelle n’encadre les rémunérations variables, à l’exclusion parfois de rémunérations variables attribuées pour une première année d’exercice dans le cadre d’un recrutement externe.

Les dispositifs de type « parachute doré » sont prohibés. Les paiements liés à la résiliation anticipée du contrat de travail sont définis en fonction des dispositions légales (indemnités légales et conventionnelles) et des performances du bénéficiaire, de son activité d’appartenance et de l’ensemble de la société de gestion réalisées sur la durée et ils sont conçus de manière à ne pas récompenser l’échec.

La rémunération variable n’est pas versée par le biais d’instruments ou de méthodes qui facilitent le contournement des exigences établies dans la réglementation.

I-2.3. Equilibre entre rémunération fixe et variable

SEEYOND s’assure qu’il existe un équilibre approprié entre les composantes fixe et variable de la rémunération globale et que la composante fixe représente une part suffisamment élevée de la rémunération globale pour qu’une politique pleinement souple puisse être exercée en matière de composantes variables de la rémunération, notamment la possibilité de ne payer aucune composante variable. L’ensemble des situations individuelles, pour lesquelles la rémunération variable représente plus d’une fois la rémunération fixe et qui peuvent s’expliquer par la pratique de marché et/ou un niveau de responsabilités, de performance et de comportement exceptionnel, sont documentées par la Direction des ressources humaines dans le cadre de la revue annuelle des rémunérations.

II- DECLINAISON DU DISPOSITIF APPLICABLE A LA POPULATION IDENTIFIEE AU TITRE D’AIFM ET/OU UCITS V

II-1. Population identifiée

Conformément aux dispositions réglementaires, la population identifiée de SEEYOND comprend les catégories de personnel, y compris la direction générale, les preneurs de risques et les personnes exerçant une fonction de contrôle, ainsi que tout employé qui, au vu de sa rémunération globale, se situe dans la même tranche de rémunération que la direction générale et les preneurs de risques, dont les activités professionnelles ont une incidence significative sur le profil de risque de la société de gestion et/ou des produits gérés par celle-ci. Ces personnes sont identifiées en fonction de leur activité professionnelle, de leur niveau de responsabilité ou de leur niveau de rémunération totale.

Dans une perspective de cohérence et d’harmonisation, SEEYOND a décidé de mettre en œuvre le dispositif applicable à la population identifiée sur l’ensemble du périmètre des produits gérés (mandats, OPCVM et AIF).



Les catégories de population suivantes sont notamment identifiées :- Les membres de l’organe de direction, - Les membres du personnel responsables de la gestion de portefeuille, - Les responsables des fonctions de contrôle (risques, conformité et contrôle interne),- Les responsables des activités de support ou administratives, - Les autres preneurs de risques,- Les collaborateurs qui, au vu de leur rémunération globale, se situent dans la même tranche de rémunération que la direction générale et les preneurs de risques.

Chaque année, en amont de la revue annuelle des rémunérations, la Direction des ressources humaines détermine et formalise la méthodologie d’identification et le périmètre de la population identifiée de SEEYOND, en lien avec la Direction de la Conformité et du contrôle interne.

Le périmètre de l’ensemble de la population identifiée est ensuite validé par la Direction générale de SEEYOND, puis présenté au Comité des rémunérations de NATIXIS.

L’ensemble du processus d’identification est documenté et archivé par la Direction des ressources humaines. Les collaborateurs concernés sont en outre informés de leur statut.

II-2. Dispositif applicable aux rémunérations variables attribuées à la population identifiée

En conformité avec la réglementation et afin de garantir l’alignement entre les collaborateurs et les investisseurs et la société de gestion, la rémunération variable de la population identifiée, dès lors qu’elle dépasse un certain seuil, est pour partie différée et pour partie attribuée sous forme d’instrument financier sur une période de 3 ans minimum, avec une acquisition prorata temporis.

La proportion de la rémunération variable, qui est différée sur 3 ans, croît avec le montant de rémunération variable attribuée et peut atteindre 60% pour les rémunérations les plus élevées de SEEYOND. Actuellement, les modalités d’application du différé sont les suivantes :- Entre 200 K€ et 499 K€ : 50% de différé,- A partir de 500 K€ : 60% de différé.

Les seuils de déclenchement des rémunérations variables différées sont susceptibles d’évolution en fonction de la réglementation ou d’évolution des politiques internes. Dans ce cas, les nouveaux seuils définis sont soumis à l’approbation du Comité exécutif de SEEYOND et du Comité des rémunérations de NATIXIS.

La rémunération variable est en outre attribuée à hauteur de 50% minimum en instrument financier ayant la forme de numéraire indexé sur l’évolution de la performance financière consolidée de SEEYOND mesurée par son Résultat Courant Avant Impôt (RCAI), constatée chaque année sur une période de 3 ans minimum.

L’acquisition de la part de la rémunération variable, qui est différée, est soumise à des conditions de présence, de performance financière de la société de gestion et d’absence de comportement hors norme pouvant avoir un impact sur le niveau de risque de SEEYOND et/ou des produits gérés.



Cette acquisition est également soumise à des obligations en matière de respect des règles de risques et de conformité. Le non-respect de ces obligations peut entraîner une diminution partielle ou totale de l’acquisition. Elle peut enfin faire l’objet d’une restitution en tout ou partie, afin de garantir un ajustement des risques a posteriori.

Les collaborateurs bénéficiant d’une rémunération variable différée ont l’interdiction de recourir, sur la totalité de la période d’acquisition, à des stratégies individuelles de couverture ou d’assurance.

Les modalités et conditions de détermination, de valorisation, d’attribution, d’acquisition et de paiement de de la rémunération variable différée en équivalent instrument financier sont détaillées dans le Long Term Incentive Plan (LTIP) de SEEYOND.

III- GOUVERNANCE

Les principes généraux et spécifiques de la politique de rémunération sont définis et formalisés par la Direction des ressources humaines de SEEYOND.

Les Directions de la Conformité et du contrôle interne et des Risques de SEEYOND ont pour leur part un rôle actif dans l’élaboration, la surveillance continue et l’évaluation de la politique de rémunération. Elles sont ainsi impliquées dans la détermination de la stratégie globale applicable à la société de gestion, aux fins de promouvoir le développement d’une gestion des risques efficace. A ce titre, elles interviennent dans la détermination du périmètre de population identifiée. Elles sont aussi en charge de l’évaluation de l’incidence de la structure de rémunération variable sur le profil de risque des gestionnaires.

La politique de rémunération de SEEYOND est validée par le Conseil d’administration de SEEYOND.

Les principes généraux et spécifiques, les modalités d’application et données chiffrées de synthèse de la politique de rémunération comprenant la population identifiée sont approuvés successivement par les membres du Comité exécutif de SEEYOND, la Direction générale de NATIXIS IM puis celle de NATIXIS.

SEEYOND, qui n’a pas de Comité des rémunérations en propre mais qui appartient au Groupe NATIXIS, reporte par ailleurs au Comité des rémunérations de NATIXIS. Le Comité des rémunérations de NATIXIS est établi et agit en conformité avec la réglementation2 : - Tant dans sa composition : indépendance et expertise de ses membres,- Que dans l’exercice de ses missions, qui plus spécifiquement sur les sociétés de gestion comprennent les rôles suivants : o Recommandation et assistance du Conseil d’administration pour l’élaboration et la mise en œuvre de la politique de rémunération de la société de gestion,o Assistance du Conseil d’administration dans la supervision de l’élaboration et du fonctionnement du système de rémunération de la société de gestion,o Attention particulière accordée à l’évaluation des mécanismes adoptés pour garantir la prise en compte de façon appropriée par le système de rémunération de toutes les catégories de risques, de liquidités et les niveaux

2 Pour plus de détail sur la composition et le rôle du Comité des rémunérations de NATIXIS, voir le Document de référence de la société.



d’actifs sous gestion et la compatibilité de la politique de rémunération avec la stratégie économique, les objectifs, les valeurs et les intérêts de la société de gestion et des produits gérés avec ceux des investisseurs.

Dans ce cadre, les principes généraux et spécifiques, la conformité de la politique de rémunération de SEEYOND avec les réglementations auxquelles elle est soumise et les modalités d’application et données chiffrées de synthèse de sa politique de rémunération, comprenant la population identifiée et les rémunérations les plus élevées, sont soumis à la revue du Comité des rémunérations de NATIXIS, puis approuvés par son Conseil d’administration.

La rémunération du Directeur général de SEEYOND est déterminée par la Direction générale de NATIXIS IM et de NATIXIS, puis présentée au Comité des rémunérations de NATIXIS avant d’être approuvée par le Conseil d’administration de NATIXIS.

Les rémunérations des Directeurs des risques et de la conformité de SEEYOND sont revues, dans le cadre des revues indépendantes menées par les filières risques et conformité, par les Directeurs des risques et de la conformité de NATIXIS IM. Elles sont ensuite soumises au Comité des rémunérations de NATIXIS.

Les principes généraux et spécifiques de la politique de rémunération sont communiqués en interne à l’ensemble des collaborateurs et aux membres du comité d’entreprise.

L’ensemble de ce processus de revue, de validation et de communication a lieu chaque année. Il intègre les éventuelles évolutions réglementaires et contextuelles et se fait en cohérence avec la politique de rémunération de NATIXIS.

Enfin, l’ensemble de la politique de rémunération de SEEYOND fait l’objet d’une revue annuelle centralisée et indépendante par la Direction de l’Audit interne de NATIXIS IM.

Quand SEEYOND délègue la gestion financière d’un des portefeuilles dont elle est société de gestion à une autre société de gestion, elle s’assure du respect des réglementations en vigueur par cette société délégataire.



Rémunération versée au titre du dernier exercice

Le montant total des rémunérations pour l’exercice, ventilé en rémunérations fixes et rémunérations variables, versées par la société de gestion à son personnel, et le nombre de bénéficiaires :

Rémunérations fixes 2020* : 2 355 692 €Rémunérations variables attribuées au titre de 2020 : 2 026 250 €Effectifs concernés : 26 collaborateurs

*Rémunérations fixes théoriques en ETP au 31 décembre 2020

Le montant agrégé des rémunérations, ventilé entre les cadres supérieurs et les membres du personnel de la société de gestion dont les activités ont une incidence significative sur le profil de risque de la société de gestion et/ou des portefeuilles :

Rémunération totale attribuée au titre de 2020 : 2 807 250 € dont,

- Cadres supérieurs : 1 862 250 €- Membres du personnel : 945 000 €


3. Frais et Fiscalité

■ Frais d'intermédiation

Le détail des conditions dans lesquelles la Société de gestion a eu recours à des services d’aide à la décision d’investissement et d’exécution d’ordres au cours du dernier exercice clos est consultable sur son site internet : http://www.im.natixis.com.

■ Frais de gestion nourricier

Votre fonds est nourricier de l’OPC/compartiment SEEYOND MULTI ASSET DIVERSIFIED GROWTH FUND. Le total des frais effectivement prélevés au cours de l’exercice s’élève à 1,81% TTC, dont 1,55% TTC qui représentent les frais de gestion directs et 0,26% TTC qui représentent les frais de gestion indirects (représentant les frais courants du maître sur la même période).

Le rapport annuel du maître est annexé au présent rapport.

■ Retenues à la source

Cet OPC n’est pas concerné par des récupérations de retenues à la source au titre de cet exercice.

http://www.im.natixis.com


4. Rapport du commissaire aux comptes

15/10/2021


@@@RAP-SPE


5. Comptes de l'exercice

a) Comptes annuels

■ BILAN ACTIF AU 30/06/2021 EN EUR

30/06/2021 30/06/2020

INSTRUMENTS FINANCIERS 47 333 053,28 43 521 563,10OPC MAÎTRE 47 333 053,28 43 521 563,10Instruments financiers à terme 0,00 0,00

Opérations sur un marché réglementé ou assimilé 0,00 0,00Autres opérations 0,00 0,00

CRÉANCES 47 170,08 96,37Opérations de change à terme de devises 0,00 0,00

Autres 47 170,08 96,37

COMPTES FINANCIERS 777 253,19 47 785,41Liquidités 777 253,19 47 785,41

TOTAL DE L'ACTIF 48 157 476,55 43 569 444,88



■ BILAN PASSIF AU 30/06/2021 EN EUR

30/06/2021 30/06/2020

CAPITAUX PROPRES

Capital 47 895 899,58 43 815 048,98

Plus et moins-values nettes antérieures non distribuées (a) 0,00 0,00

Report à nouveau (a) 0,00 0,00

Plus et moins-values nettes de l'exercice (a,b) 831 411,58 347 454,96

Résultat de l’exercice (a,b) -1 370 065,32 -689 052,54

TOTAL DES CAPITAUX PROPRES * 47 357 245,84 43 473 451,40* Montant représentatif de l'actif net

INSTRUMENTS FINANCIERS 0,00 0,00Instruments financiers à terme 0,00 0,00

Opérations sur un marché réglementé ou assimilé 0,00 0,00

Autres opérations 0,00 0,00

DETTES 800 230,71 95 993,48Opérations de change à terme de devises 0,00 0,00

Autres 800 230,71 95 993,48

COMPTES FINANCIERS 0,00 0,00Concours bancaires courants 0,00 0,00

Emprunts 0,00 0,00

TOTAL DU PASSIF 48 157 476,55 43 569 444,88

(a) Y compris comptes de régularisation(b) Diminués des acomptes versés au titre de l'exercice



■ HORS-BILAN AU 30/06/2021 EN EUR

30/06/2021 30/06/2020

OPÉRATIONS DE COUVERTURE 0,00 0,00

Engagement sur marchés réglementés ou assimilés 0,00 0,00

Engagement sur marché de gré à gré 0,00 0,00

Autres engagements 0,00 0,00

AUTRES OPÉRATIONS 0,00 0,00

Engagement sur marchés réglementés ou assimilés 0,00 0,00

Engagement sur marché de gré à gré 0,00 0,00

Autres engagements 0,00 0,00



■ COMPTE DE RÉSULTAT AU 30/06/2021 EN EUR

30/06/2021 30/06/2020

Produits sur opérations financières

Produits sur dépôts et sur comptes financiers 0,00 0,00

Produits sur actions et valeurs assimilées 0,00 0,00

Produits sur obligations et valeurs assimilées 0,00 0,00

Produits sur titres de créances 0,00 0,00

Produits sur acquisitions et cessions temporaires de titres 0,36 0,00

Produits sur instruments financiers à terme 0,00 0,00

Autres produits financiers 0,00 0,00

TOTAL (1) 0,36 0,00

Charges sur opérations financièresCharges sur acquisitions et cessions temporaires de titres 0,00 0,00

Charges sur instruments financiers à terme 0,00 0,00

Charges sur dettes financières 1 868,69 359,35

Autres charges financières 0,00 0,00

TOTAL (2) 1 868,69 359,35

RÉSULTAT SUR OPÉRATIONS FINANCIÈRES (1 - 2) -1 868,33 -359,35Autres produits (3) 0,00 0,00

Frais de gestion et dotations aux amortissements (4) 1 403 636,95 696 279,93

RÉSULTAT NET DE L'EXERCICE (L. 214-17-1) (1 - 2 + 3 - 4) -1 405 505,28 -696 639,28Régularisation des revenus de l'exercice (5) 35 439,96 7 586,74

Acomptes sur résultat versés au titre de l'exercice (6) 0,00 0,00

RÉSULTAT (1 - 2 + 3 - 4 + 5 - 6) -1 370 065,32 -689 052,54



b) Comptes annuels - Annexes comptables

1. Règles et méthodes comptables

Les comptes annuels sont présentés sous la forme prévue par le règlement ANC n° 2014-01, modifié.

Les principes généraux de la comptabilité s'appliquent :

- image fidèle, comparabilité, continuité de l'activité,

- régularité, sincérité,

- prudence,

- permanence des méthodes d'un exercice à l'autre.

Le mode de comptabilisation retenu pour l'enregistrement des produits des titres à revenu fixe est celui des intérêts encaissés.

Les entrées et les cessions de titres sont comptabilisées frais exclus.La devise de référence de la comptabilité du portefeuille est en euro.La durée de l'exercice est de 12 mois.

Information sur les incidences liées à la crise du COVID-19

Les comptes ont été établis par la société de gestion sur la base des éléments disponibles dans un contexte évolutif de crise liée au Covid-19.

Règles d'évaluation des actifs

Les instruments financiers sont enregistrés en comptabilité selon la méthode des coûts historiques et inscrits au bilan à

leur valeur actuelle qui est déterminée par la dernière valeur de marché connue ou à défaut d'existence de marché par

tous moyens externes ou par recours à des modèles financiers.

Les différences entre les valeurs actuelles utilisées lors du calcul de la valeur liquidative et les coûts historiques des valeurs

mobilières à leur entrée en portefeuille sont enregistrées dans des comptes « différences d'estimation ».

Les valeurs qui ne sont pas dans la devise du portefeuille sont évaluées conformément au principe énoncé ci-dessous,

puis converties dans la devise du portefeuille suivant le cours des devises au jour de l'évaluation.

OPC détenus :

Les parts ou actions d'OPC seront valorisées à la dernière valeur liquidative connue.



Instruments financiers à terme :

Instruments financiers à terme négociés sur un marché réglementé ou assimilé :

Les instruments financiers à terme négociés sur les marchés réglementés sont valorisés au cours de compensation du jour.

Instruments financiers à terme non négociés sur un marché réglementé ou assimilé :

Les Swaps :

Les contrats d'échange de taux d'intérêt et/ou de devises sont valorisés à leur valeur de marché en fonction du prix calculé

par actualisation des flux d'intérêts futurs aux taux d'intérêts et/ou de devises de marché. Ce prix est corrigé du risque de

signature.

Les swaps d'indice sont évalués de façon actuarielle sur la base d'un taux de référence fourni par la contrepartie.

Les autres swaps sont évalués à leur valeur de marché ou à une valeur estimée selon les modalités arrêtées par la société de gestion.

Engagements Hors Bilan :

Les contrats à terme ferme sont portés pour leur valeur de marché en engagements hors bilan au cours utilisé dans le portefeuille.Les opérations à terme conditionnelles sont traduites en équivalent sous-jacent.Les engagements sur contrats d'échange sont présentés à leur valeur nominale, ou en l'absence de valeur nominale pour un montant équivalent.

Frais de gestion

Les frais de gestion et de fonctionnement recouvrent l'ensemble des frais relatif à l'OPC : gestion financière, administrative, comptable, conservation, distribution, frais d'audit...

Ces frais sont imputés au compte de résultat de l'OPC.

Les frais de gestion n'incluent pas les frais de transaction. Pour plus de précision sur les frais effectivement facturés à

l'OPC, se reporter au prospectus.

Ils sont enregistrés au prorata temporis à chaque calcul de valeur liquidative.

Le cumul de ces frais respecte le taux de frais maximum de l'actif net indiqué dans le prospectus ou le règlement du fonds :

FR0011005461 - FRUCTI FLEXIBLE 100 : Taux de frais maximum de 1,55% TTC.



La commission de surperformance

La commission de surperformance, applicable à une catégorie de part donnée est basée sur la comparaison entre l’actif valorisé du fonds et l’actif de référence.

L’actif valorisé du fonds s’entend comme la quote-part de l’actif, correspondant à une catégorie de part, évalué selon les règles de valorisation applicables aux actifs et après prise en compte des frais de fonctionnement et de gestion réels correspondant à ladite catégorie de part.

L’actif de référence représente la quote-part de l’actif du fonds, correspondant à une catégorie de part donnée, retraité des montants de souscriptions/rachats applicable à ladite catégorie de part à chaque valorisation, et le cas échéant valorisé selon la performance de l’indice de référence retenu.

En cas de performance négative de l'indice de référence du FCP, la performance retenue pour la valorisation de l'actif de référence sera égale à zéro.

L’indice de référence, retenu pour le calcul de la commission de surperformance, est : l’EONIA + 6% (Euro Overnight Index Average) Capitalisé. Il est libellé en euro.

La période d’observation correspond à :

- La première période d’observation correspond à la période du 25 janvier 2017 au dernier jour de bourse du mois de mars 2018.

- Pour les périodes suivantes : exercices comptables suivants.

Le premier prélèvement interviendra à l’issue de la clôture de l’exercice comptable clos le dernier jour de bourse du mois de mars 2018.

Si, sur la période d’observation, la performance du FCP est positive et l’actif valorisé du FCP est supérieur à celui de l’actif de référence défini ci-dessus, la part variable des frais de gestion représentera 20% TTC maximum de l’écart entre ces deux actifs.

Si, sur la période d’observation, l’actif valorisé du FCP est inférieur à celui de l’actif de référence, la part variable des frais de gestion sera nulle.

Si, sur la période d’observation, l’actif valorisé du FCP est supérieur à celui de l’actif de référence, cet écart fera l’objet d’une provision au titre des frais de gestion variables lors du calcul de la valeur liquidative.

Dans le cas où l’actif valorisé du FCP est inférieur à celui de l’actif de référence entre deux valeurs liquidatives, toute provision passée précédemment sera réajustée par une reprise sur provision. Les reprises sur provisions sont plafonnées à hauteur des dotations antérieures.



Cette part variable ne sera définitivement perçue à la clôture comptable que si sur la période écoulée, l’actif valorisé du FCP est supérieur à celui de l’actif de référence constaté lors de la dernière valeur liquidative de la période de référence.

En cas de rachat, la quote-part de la provision constituée, correspondant au nombre de parts rachetées, est définitivement acquise à la société de gestion.

Affectation des sommes distribuables

Définition des sommes distribuables

Les sommes distribuables sont constituées par :

Le résultat :

Le résultat net de l'exercice est égal au montant des intérêts, arrérages, primes et lots, dividendes, jetons de présence et tous autres produits relatifs aux titres constituant le portefeuille, majorés du produit des sommes momentanément disponibles et diminué du montant des frais de gestion et de la charge des emprunts.Il est augmenté du report à nouveau et majoré ou diminué du solde du compte de régularisation des revenus.

Les Plus et Moins-values :

Les plus-values réalisées, nettes de frais, diminuées des moins-values réalisées, nettes de frais, constatées au cours de l’exercice, augmentées des plus-values nettes de même nature constatées au cours d’exercices antérieurs n’ayant pas fait l’objet d’une distribution ou d’une capitalisation et diminuées ou augmentées du solde du compte de régularisation des plus-values.

Modalités d'affectation des sommes distribuables :

Part(s) Affectation du résultat net Affectation des plus ou moins-values nettes réalisées

Part FRUCTI FLEXIBLE 100 Capitalisation Capitalisation



■ 2. EVOLUTION DE L'ACTIF NET AU 30/06/2021 EN EUR

30/06/2021 30/06/2020

ACTIF NET EN DÉBUT D'EXERCICE 43 473 451,40 44 645 831,12

Souscriptions (y compris les commissions de souscriptions acquises à l'OPC) 2 678 818,96 2 082 335,38

Rachats (sous déduction des commissions de rachat acquises à l'OPC) -3 938 164,77 -3 012 860,20

Plus-values réalisées sur dépôts et instruments financiers 846 865,32 351 108,94

Moins-values réalisées sur dépôts et instruments financiers 0,00 0,00

Plus-values réalisées sur instruments financiers à terme 0,00 0,00

Moins-values réalisées sur instruments financiers à terme 0,00 0,00

Frais de transactions 0,00 0,00

Différences de change 0,00 0,00

Variations de la différence d'estimation des dépôts et instruments financiers 5 701 880,21 103 725,44

Différence d'estimation exercice N 9 307 446,08 3 605 565,87

Différence d'estimation exercice N-1 -3 605 565,87 -3 501 840,43

Variations de la différence d'estimation des instruments financiers à terme 0,00 0,00

Différence d'estimation exercice N 0,00 0,00

Différence d'estimation exercice N-1 0,00 0,00

Distribution de l'exercice antérieur sur plus et moins-values nettes 0,00 0,00

Distribution de l'exercice antérieur sur résultat 0,00 0,00

Résultat net de l'exercice avant compte de régularisation -1 405 505,28 -696 639,28

Acompte(s) versé(s) au cours de l'exercice sur plus et moins-values nettes 0,00 0,00

Acompte(s) versé(s) au cours de l'exercice sur résultat 0,00 0,00

Autres éléments (*) -100,00 -50,00

ACTIF NET EN FIN D'EXERCICE 47 357 245,84 43 473 451,40

(*) N : Frais d'attribution d'un identifiant d'entité juridique : -100,00 €.N-1 : Frais de certification annuelle d'un LEI : -50,00 €.



■ 3. COMPLÉMENTS D'INFORMATION

■ 3.1. VENTILATION PAR NATURE JURIDIQUE OU ÉCONOMIQUE DES INSTRUMENTS FINANCIERS

Montant %

HORS-BILAN

OPÉRATIONS DE COUVERTURETOTAL OPÉRATIONS DE COUVERTURE 0,00 0,00AUTRES OPÉRATIONSTOTAL AUTRES OPÉRATIONS 0,00 0,00

■ 3.2. VENTILATION PAR NATURE DE TAUX DES POSTES D'ACTIF, DE PASSIF ET DE HORS-BILAN

Taux fixe % Taux variable % Taux révisable % Autres %

HORS-BILANOpérations de couverture 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00Autres opérations 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00



■ 3.3. VENTILATION PAR MATURITÉ RÉSIDUELLE DES POSTES D'ACTIF, DE PASSIF ET DE HORS-BILAN(*)

< 3 mois % ]3 mois - 1 an] % ]1 - 3 ans] % ]3 - 5 ans] % > 5 ans %

HORS-BILANOpérations de couverture 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00

Autres opérations 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00 (*) Les positions à terme de taux sont présentées en fonction de l'échéance du sous-jacent.

■ 3.4. VENTILATION PAR DEVISE DE COTATION OU D'ÉVALUATION DES POSTES D'ACTIF, DE PASSIF ET DE HORS-BILAN (HORS EURO)

Devise 1 Devise 2 Devise 3 Devise NAUTRE(S)

Montant % Montant % Montant % Montant %

ACTIFOPC Maître 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00Créances 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00Comptes financiers 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00

PASSIFDettes 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00Comptes financiers 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00

HORS-BILANOpérations de couverture 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00Autres opérations 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00



■ 3.5. CRÉANCES ET DETTES : VENTILATION PAR NATURE

Nature de débit/crédit 30/06/2021

CRÉANCESSouscriptions à recevoir 47 169,72

Autres créances 0,36

TOTAL DES CRÉANCES 47 170,08DETTES

Achats à règlement différé 47 153,18

Frais de gestion fixe 63 226,11

Frais de gestion variable 689 851,42

TOTAL DES DETTES 800 230,71TOTAL DETTES ET CRÉANCES -753 060,63

■ 3.6. CAPITAUX PROPRES

• 3.6.1. Nombre de titres émis ou rachetés

En parts En montant

Parts souscrites durant l'exercice 20 307,5456 2 678 818,96

Parts rachetées durant l'exercice -29 338,6084 -3 938 164,77

Solde net des souscriptions/rachats -9 031,0628 -1 259 345,81

Nombre de parts en circulation à la fin de l'exercice 338 761,3825

• 3.6.2. Commissions de souscription et/ou rachat

En montant

Total des commissions de souscription et/ou rachat acquises 0,00

Commissions de souscription acquises 0,00

Commissions de rachat acquises 0,00



■ 3.7. FRAIS DE GESTION

30/06/2021

Commissions de garantie 0,00

Frais de gestion fixes 713 785,53

Pourcentage de frais de gestion fixes 1,55

Frais de gestion variables 689 851,42

Rétrocessions des frais de gestion 0,00

■ 3.8. ENGAGEMENTS REÇUS ET DONNÉS

• 3.8.1. Garanties reçues par l’OPC :

Néant.

• 3.8.2. Autres engagements reçus et/ou donnés :

Néant.



■ 3.9. AUTRES INFORMATIONS

• 3.9.1. Valeur actuelle des instruments financiers faisant l'objet d'une acquisition temporaire

30/06/2021

Titres pris en pension livrée 0,00

Titres empruntés 0,00

• 3.9.2. Valeur actuelle des instruments financiers constitutifs de dépôts de garantie

30/06/2021

Instruments financiers donnés en garantie et maintenus dans leur poste d'origine 0,00

Instruments financiers reçus en garantie et non-inscrits au bilan 0,00

• 3.9.3. Instruments financiers détenus, émis et/ou gérés par le Groupe

Code ISIN Libellé 30/06/2021

Actions 0,00

Obligations 0,00

TCN 0,00

OPC 47 333 053,28

LU1335436603 SEEYOND M-A DIV GROWTH FD M/A (EUR) 47 333 053,28

Instruments financiers à terme 0,00

Total des titres du groupe 47 333 053,28



■ 3.10. TABLEAU D'AFFECTATION DES SOMMES DISTRIBUABLES

• Tableau d'affectation de la quote-part des sommes distribuables afférente au résultat

30/06/2021 30/06/2020

Sommes restant à affecter

Report à nouveau 0,00 0,00

Résultat -1 370 065,32 -689 052,54

Total -1 370 065,32 -689 052,54

30/06/2021 30/06/2020

AffectationDistribution 0,00 0,00

Report à nouveau de l'exercice 0,00 0,00

Capitalisation -1 370 065,32 -689 052,54

Total -1 370 065,32 -689 052,54



• Tableau d'affectation de la quote-part des sommes distribuables afférente aux plus et moins-values nettes

30/06/2021 30/06/2020

Sommes restant à affecter

Plus et moins-values nettes antérieures non distribuées 0,00 0,00

Plus et moins-values nettes de l'exercice 831 411,58 347 454,96

Acomptes versés sur plus et moins-values nettes de l'exercice 0,00 0,00

Total 831 411,58 347 454,96

30/06/2021 30/06/2020

Affectation

Distribution 0,00 0,00

Plus et moins-values nettes non distribuées 0,00 0,00

Capitalisation 831 411,58 347 454,96

Total 831 411,58 347 454,96



■ 3.11. TABLEAU DES RÉSULTATS ET AUTRES ÉLÉMENTS CARACTÉRISTIQUES DE L'ENTITÉ AU COURS DES CINQ DERNIERS EXERCICES

30/06/2017 30/06/2018 30/06/2019 30/06/2020 30/06/2021

Actif net en EUR 40 512 198,99 43 636 194,09 44 645 831,12 43 473 451,40 47 357 245,84

Nombre de titres 335 102,8713 349 511,5441 355 157,5806 347 792,4453 338 761,3825

Valeur liquidative unitaire 120,89 124,84 125,70 124,99 139,79

Capitalisation unitaire sur +/- values nettes

0,08 0,54 0,49 0,99 2,45

Capitalisation unitaire sur résultat

-0,47 -1,97 -1,92 -1,98 -4,04



■ 3.12. INVENTAIRE DÉTAILLÉ DES INSTRUMENTS FINANCIERS EN EUR

Désignation des valeurs Devise Qté Nbre ou nominal Valeur actuelle % Actif

NetOrganismes de placement collectif

OPCVM et FIA à vocation générale destinés aux non professionnels et équivalents d'autres paysLUXEMBOURG

SEEYOND M-A DIV GROWTH FD M/A (EUR) EUR 369 991,818 47 333 053,28 99,95TOTAL LUXEMBOURG 47 333 053,28 99,95TOTAL OPCVM et FIA à vocation générale destinés aux non professionnels et équivalents d'autres pays 47 333 053,28 99,95

TOTAL Organismes de placement collectif 47 333 053,28 99,95Créances 47 170,08 0,10Dettes -800 230,71 -1,69Comptes financiers 777 253,19 1,64Actif net 47 357 245,84 100,00


6. Annexe(s)

NATIXIS AM Funds

Société d'Investissement à Capital Variable organised under the laws of the Grand Duchy of Luxembourg

Annual report for the year ended June 30, 2021

R.C.S. Luxembourg B 177 509

NATIXIS AM Funds

Table of Contents

Page 2

Management and Administration 3 Report of the Board of Directors 4 Report of the Réviseur d’Entreprises agréé 13 Combined statement of net assets 16 Combined statement of operations and changes in net assets 18 NATIXIS AM Funds - Ostrum Euro Bonds Opportunities 12 Months 20 NATIXIS AM Funds - Ostrum Euro Short Term Credit 25 NATIXIS AM Funds - Ostrum Euro Credit 33 NATIXIS AM Funds - Ostrum Euro Inflation 39 NATIXIS AM Funds - Ostrum Euro Aggregate 44 NATIXIS AM Funds - Ostrum Global Aggregate 54 NATIXIS AM Funds - Ostrum Credit Opportunities 61 NATIXIS AM Funds - DNCA Global Convertible Bonds (formerly Ostrum Global Convertible Bonds) 68 NATIXIS AM Funds - Ostrum Multi Asset Global Income 76 NATIXIS AM Funds - DNCA Euro Value Equity (formerly Ostrum Euro Value Equity) 84 NATIXIS AM Funds - Natixis Conservative Risk Parity 89 NATIXIS AM Funds - Seeyond Multi Asset Conservative Growth Fund 94 NATIXIS AM Funds - Seeyond Multi Asset Diversified Growth Fund 99 NATIXIS AM Funds - Seeyond Equity Factor Investing Europe (liquidation on 04/11/20) 104 NATIXIS AM Funds - Seeyond Europe Market Neutral 107 NATIXIS AM Funds - Seeyond Europe Minvol 115 NATIXIS AM Funds - Seeyond US Minvol (liquidation on 24/11/20) 122 NATIXIS AM Funds - Seeyond Global Minvol 125 NATIXIS AM Funds - Seeyond Volatility Strategy (formerly Seeyond Equity Volatility Strategies) 133 NATIXIS AM Funds - Ostrum Global Emerging Bonds 138 NATIXIS AM Funds - DNCA Global Emerging Equity (formerly Ostrum Global Emerging Equity) 146 NATIXIS AM Funds - DNCA Global Sport Equity (launched on 24/03/21) 152 Notes to the financial statements - Schedule of derivative instruments 157 Other notes to the financial statements 169 Unaudited information 193 No subscription can be received on the basis of this financial report. Subscriptions are only valid if made on the basis of the current Prospectus supplemented by the latest annual report and the latest semi-annual report if published thereafter.

NATIXIS AM Funds

Management and Administration

Page 3 C2 - Internal Natixis

REGISTERED OFFICE 5, allée Scheffer L - 2520 Luxembourg Grand Duchy of Luxembourg

MANAGEMENT COMPANY Natixis Investment Managers International 43, avenue Pierre Mendès-France

75013 Paris France

BOARD OF DIRECTORS OF THE SICAV Chairman Natixis Investment Managers International Represented by Mr. Jason Trépanier, «Executive Vice-President, Chief Operating Officer» of Natixis

Investment Managers International Directors Natixis Wealth Management Luxembourg Represented by Mr. Philippe Guénet, «Directeur Général» of Natixis

Wealth Management Luxembourg

Natixis Life Represented by Mr. Frédéric Lipka, «Directeur Général» of Natixis

Life DELEGATED INVESTMENT MANAGERS DNCA Finance (since 01/10/2020) 19, place Vendôme 75001 Paris

France Ostrum Asset Management 43, avenue Pierre Mendès-France 75013 Paris

France SEEYOND 43, avenue Pierre Mendès-France 75013 Paris

France Natixis Investment Managers Singapore Limited 5 Shenton Way #22-06 UIC Building Singapore 068808 DEPOSITARY BANK CACEIS Bank, Luxembourg Branch 5, allée Scheffer

L - 2520 Luxembourg Grand Duchy of Luxembourg

ADMINISTRATIVE AGENT, PAYING AGENT, LISTING AGENT, DOMICILIARY, CORPORATE AGENT, REGISTRAR AND TRANSFER AGENT

CACEIS Bank, Luxembourg Branch 5, allée Scheffer L - 2520 Luxembourg Grand Duchy of Luxembourg

AUDITOR (Cabinet de Révision Agréé) KPMG Luxembourg, Société Coopérative

39, avenue John F. Kennedy L - 1855 Luxembourg Grand Duchy of Luxembourg

NATIXIS AM Funds

Report of the Board of Directors

Page 4

1. NATIXIS AM Funds - Ostrum Euro Bonds Opportunities 12 Months

The Fund outperformed its Reference Index (the EONIA capitalized) by 0.83% (gross of fees I/C share class in EUR) in the 12 past months as of 30 June 2021. The fund realized a performance of 0.35% (gross of fees I/C share class) VS. -0.48% for the benchmark. The fund’s outperformance was mainly realized T4 2020 thanks to our country positioning, especially on Italy, Portugal and Greece which contributed very positively. Italian, Portuguese and Spanish interest rate spreads tightened all over the year until April 2021. The second performance driver was our strategy on forward contracts. The modified duration was managed very actively between 0 and 3. The I/C share class of the fund outperformed its Reference Index (the EONIA capitalized) by 0.47% (net of fees I/C shareclass) in the 12 past months ended 30 June 2021. The share class realized a yearly performance of -0.01% (net of fees I/C share class) VS. -0.48% for the benchmark as of end of June 2021. 2. NATIXIS AM Funds - Ostrum Euro Short Term Credit

Performance drivers: The fund had a positive performance of 2.43% over 1 year (I/A share class class), outperforming its benchmark, the Bloomberg Barclays Euro Corporate index 1-3 years index (0.72% over the period). During Q3 2020, the fund posted a positive gross return of +1% (+0.91% net of fees), outperforming its benchmark by +0.11%, the Bloomberg Barclays Euro Aggregate Corporate 1-3 year. This outperformance is explained by the 4 credit drivers of the fund:

- First, the credit directional exposure had the most significant impact on performance with a positive contribution of +0.13% as the fund was overweight credit and the credit spread of the benchmark tightened by 28bps over the quarter (from 94bps to 66bps)

- Secondly, the asset allocation had a positive impact of +0.07% as the funds was overweight in high beta sectors (subordinated debts) and HY allocation which performed over the quarter

- Third, the security selection had an impact of -0.07%, due to names such as IAG (2bps), ZF (4bps) and Unibail (3bps) which underperformed during the quarter.

- Last, the yield curve positioning has a negligible impact of -1bp. The strategy has been managed close to the duration of the index.

During Q4 2020, the fund posted a positive gross return of +1.43% (+1.28% net of fees), outperforming its benchmark by +0.83%, the Bloomberg Barclays Euro Aggregate Corporate 1-3 year. This net outperformance is explained by the 4 credit drivers of the fund:


- Secondly, the security selection had an impact of +0.24%, due to names such as GE (4.3bps), Sabadell (3.2bps), Shaeffler (2.6bps), Iliad (1.6bps) overperformed during the quarter.

- Thirdly, the asset allocation had a positive impact of +0.12% as the funds was overweight in high beta sectors (subordinated debts) and HY allocation which outperformed over the quarter

- Last, the yield curve positioning has a negligible negative impact of -0.02%. The strategy was slightly longer in duration compare to the index while European rates marginally increased.

During the first quarter 2021, the fund posted a positive gross return of +0.12%, outperforming its benchmark by +0.04%, the Bloomberg Barclays Euro Aggregate Corporate 1-3 year. Net of fees on I/C€ parts, performance remains positive with a return of +0.02%. This net outperformance is explained by the 4 credit drivers of the fund:


- Secondly, the asset allocation had a positive impact of +0.05% as the funds was overweight in high beta sectors (subordinated debts) and HY allocation which outperformed over the quarter

NATIXIS AM Funds


Page 5

- Thirdly, the yield curve positioning has a negative impact of -0.04%. The strategy was slightly longer in duration than the benchmark in the first part of the quarter, suffering of the european yield increase and the yield curve steepening.

- Last, the security selection had this quarter an negligible impact of -0.01%. During the second quarter 2021, the fund posted a positive gross return of +0.34%, outperforming its benchmark by +0.22%, the Bloomberg Barclays Euro Aggregate Corporate 1-3 year. Net of fees on I/C€ parts, performance remains positive with a return of +0.24%. This outperformance is explained by the 4 credit drivers of the fund:

- The asset allocation provided the most significant impact on performance with a positive contribution of +0.09% as the portfolio was overweight in high beta sectors (subordinated debts) and HY allocation which outperformed over the quarter.

- The credit directional exposure had the second most positive effect on performance with a contribution of +0.07% as the fund was overweight credit and the credit spread on the benchmark tightened by -3bps over the quarter (from 41bps to 31bps).

- The security selection had also a positive impact of +0.04% - The yield curve positioning had a negligible impact (0.5bp). The strategy was slightly shorter in duration

than the benchmark i.e longer in credit exposure partially hedged while European yield curve flattening slightly.

- The security selection had this quarter a negligible impact of -0.01%.

3. NATIXIS AM Funds - Ostrum Euro Credit

Performance drivers:

The fund had a positive performance of 3.59% over 1 year (I/A share class class), in with with its benchmark, the Bloomberg Barclays Euro Corporate index (3.61% over the period).

Q3 2020: Ostrum Euro Credit strategy posted a Q3 positive net performance (I/C share) of +1.71% underperforming its benchmark by -0.28%%. During the quarter, the credit market spread tightened by 26bps from 117bps to 91bps on average. As for CDS markets, Synthetic Itraxx Main 5Y, Itraxx SubFin 5Y and CrossOver 5Y ended the quarter at 63bps, 137bps, 350bps, respectively tighter by 3bps, 32bps and 33bps. The underperformance of the strategy versus the benchmark was driven by the directional view for -13bps.

Q4 2020: Ostrum Euro Credit strategy posted a strong positive gross performance of +2.82% outperforming its benchmark by +0.84%. During the quarter, the credit market spread tightened by 27bps from 91bps to 64bps on average. As for CDS markets, Synthetic Itraxx Main 5Y, Itraxx SubFin 5Y and CrossOver 5Y ended the quarter at 48bps, 112bps, 241bps, respectively tighter by 12bps, 41bps and 105bps.

The outperformance of the strategy versus the benchmark was driven by the three alpha drivers:

- directional view for 48bps, the fund was overweight with a DTS between 140% and 130% in October and November while the spread of the benchmark decreased gradually from 91bps to 64bps,

- asset allocation for -8bps (-4bps coming from the overweight in banking balanced with very positive issuer selection),

- and issuer selection for 44bps; among the top performers, are: banks (+16bps: Banco Sabadell , BBVA …) and corporates (Heineken,General Electric, International Airlines Group, Auchan).

Q1 2021: Ostrum Euro Credit strategy posted a gross performance of -0.95% underperforming its benchmark by -0.27%. During the quarter, the credit market spread tightened by 4bps from 64bps to 60bps on average. The underperformance of the strategy versus the benchmark was driven by mostly the yield curve positioning.The underperformance is explained by the following factors:

- Yield curve impact: - 18bps; the fund rates’sensitivity was managed at +4% on average more than the benchmark and the fund was underweighed in 2y and overweighed by +2% on average on the +10y maturities. As rates increased and the rates curve steepened, it had a negative impact on the performance of the fund.

- directional view for +3bps, the fund was overweighed credit and credit spreads tightened,

NATIXIS AM Funds


Page 6

- asset allocation for -2bps (coming from an underweight in “other financials”), - and issuer selection for -10bps; in the energy sector hybrids underperfomed, in the consumer non cyclicals,

long bonds of strong issuers underperformed and in the Reits, US data centers underperformed. Q2 2021: Ostrum Euro Credit strategy posted a gross performance of 0.47% outperforming its benchmark, the BBEAC by 0.17%. During the quarter, the credit market spread tightened by 8bps from 60bps to 52bps on average. The performance of the strategy versus the benchmark was driven by:

- The security selection provided the most significant impact on performance with a positive contribution of +0.15% explained by the picking on banking sector for +0.09% and Consumer non cyclicals for +0.05%.

- The credit directional exposure had the second most positive effect on performance with a contribution of +0.03% as the fund was overweight credit and the credit spread on the benchmark tightened by -8bps over the quarter.

- The Asset allocation had a negative impact of -0.02bp - The yield curve positioning has a negligible impact (0.7bp)

4. NATIXIS AM Funds - Ostrum Euro Inflation

The Fund overperformed its Reference Index (the BBGB ALL CPI EURO TR Euro) by +0,33% (gross of fees I/C share class in EUR) in the 12 past months as of 30 June 2021. The fund realized a performance of 6,86% (gross of fees I/C share class) VS. 6,53% for the benchmark. The relative overperformance of the fund was mainly realized in H2 2020 and Q2 2021.

In Q3 2020, the fund outperformed its reference index, mainly thanks to the flattening on directional real rates, our overweight on Spain and Italy, our directional nominal rate and our diversification in G10 countries. The last quarter of 2020’s overperformance is mainly due to the flattening on directional real rates, our overweight on Spain and Italy and our diversification on TIPS. During the Q1 2021, the underperformance is mainly due to the flattening on directional real rates and our diversification in G10 countries. The overperformance during the Q2 2021 is mainly due to tactical short directional strategies on 10Y EUR nominal rate and relative value strategies on OATei/OATi. Our overweight on Spain and Italy was neutral for the fund performance.

The I/C share class of the fund underperformed its Reference Index (the BBGB ALL CPI EURO TR Euro) by -0.16% (net of fees I/C share class) in the 12 past months ended 30 June 2020. The share class realized a yearly overall performance of 6.37% (net of fees I/C share class) VS. 6,53% for the benchmark as of end of June 2021.

5. NATIXIS AM Funds - Ostrum Euro Aggregate

In 2021, Ostrum Euro Aggregate strategy returned +1.86% gross of fees versus +0.39% for its benchmark, the Barclays Capital € Aggregate index.

The bulk of this overperformance occurred in 20-Q4 during market recovery when our core allocation strategy was very credit oriented. Furthermore, growth and reflation off benchmark emerging debt, HY and convertible exposure have been also very beneficial to the fund. Country selection in the treasury segment was also a very positive contributor during this quarter especially due to our lengthening selection in peripherals versus core. In term of selection, both credit and sovereign curve choices were positive especially in Greece and Italy.

In terms of performance attribution for 2021, our core allocation strategy has been neutral this year despite credit performance, however off benchmark HY and subordinated debt exposure have been positive to the fund by +13 bps together with BTPS inflation linkers that added +8 bps so far this year. Country and issue selection in the treasury segment were also a positive contributor with our Iberic and cyclical/financial sector over exposure. In term of selection, both credit and sovereign curve choices were negative due to steepening. Finally, duration and curve alpha were negative by almost -32 bps as we maintained an overall flattening view in Q1 and over-exposed the fund to Italian long end of the curve. Finally, our strategic underweight in US rates versus Euro has been very beneficial to the fund in 21-Q1.

NATIXIS AM Funds


Page 7

6. NATIXIS AM Funds - Ostrum Global Aggregate

The Fund outperformed its Reference Index (the Bloomberg Barclays Global Aggregate) by +1.46% (gross of fees SI/C USD share class) in the 12 past months as of 30 June 2021.

The fund realized an overall yearly performance of +1.68% (gross of fees SI/C share class) VS. +0.21% for the benchmark. The fund’s outperformance was mainly realized during second semester of 2020. Both country and sector allocation have been positive across the period but so has been picking within corporate and treasuries. High beta strategies and notably emerging market debt were very positive especially in the last quarter of 2020 with the sharp spread tightening. In addition, global convertible bonds contributed positively to the fund performances in 20-Q4. In addition, our global credit exposure added consistent return during the entire period.

7. NATIXIS AM Funds - Ostrum Credit Opportunities

The Ostrum Credit Opportunities I/A share class (LU0935225598) annual net return was of 6.23% as of June 30th. The annual target for the same period was 2.52% for its capitalized Eonia+3% benchmark.

During that period, financial markets has continued to recover from the brutal and harmful effects of the worldwide lockdowns caused by the Covid19 pandemic. Credit spreads continuously tightened with however some small periods of elevated volatility reflecting uncertainties related to the Covid19 vaccine efficacy or related to the US presidential elections in October and November 2020.

We breakdown the funds positioning into four family of strategies: Carry, Directional, Arbitrage and Special Situations. All these strategies contributed positively to the fund’s annual performance.

The Carry strategies contributed the most to the annual performance reflecting the continued recovery resulting from the systemic shock of the Covid19 pandemic. These strategies’ positioning further benefited from the strong spread compression observed starting from November 2020. Hence, the main contributing bonds were bank Additional Tier 1 from European peripheral countries. In addition, Corporate Hybrid bonds, in particular in cyclical sectors such as Auto manufacturers, performed strongly. The other main contributor was the exposure to the Convertible bonds fund and to a lesser extent, exposures to the High Yield bond funds.

The Directional strategies contributed positively to the annual performance. Credit market spread dispersion decreased and therefore has been a strong catalyst of the performance of high yielding credits despite some volatility episodes. The compression in spreads coming from our activity in High Yield bond primary markets the higher beta cash bonds such as bank AT1 and Hybrid corporate bonds contributed positively to the performance.

The small detractors on the directional strategies were the decompression strategies we implemented a few times in 2021 using iTraxx Xover and Main indices.

The relative value position contributes slightly negatively on the fund’s annual performance. These strategies were predominantly short of issuers that, we believe, are facing headwinds. The long CDS strategies has partially offset this negative contribution.

The special situation strategies was a strong contributor during the first half of the period as these exposures were recovering from the distressed price levels during the pandemic drawdown.

OSTRUM CREDIT OPPORTUNITIES - I/A EUR, LU0935225598 *Benchmark: capitalized Eonia+2% until October 1st 2018. Please note that the Benchmark used in this report for the period starting from October 1st 2018 is capitalized Eonia+3%. We chain the past performance of the Benchmark accordingly.

Figures mentioned refer to previous years. Past performance does not guarantee reliable future results.

8. NATIXIS AM Funds - DNCA Global Convertible Bonds (formerly Ostrum global convertible Bonds)

The fund had a positive performance of +18.13% over 1 year (S/A USD share class), underperforming its benchmark, the Thomson Reuters Global Convertible Focus Hedged USD index (+20.33% over the period).

The fund succeeded in outperforming its index in 2020 but faced difficulties in the first half of 2021.

Q3 2020: The strategy outperformed the benchmark. Every regional convertible bond index showed a positive performance with the US convertibles leading an absolute return of +7.03%. Overall, the fund had an overweighted sensitivity to equity and therefore participated to the upside of the equity markets. The fund benefited mostly from its positions in US Technology.

Q4 2020: The strategy outperformed the benchmark. The US and Asian-ex-Japan convertible bonds were particularly strong over the quarter. The US convertible regional index showed an absolute return of +14.3% and the Asian one

NATIXIS AM Funds


Page 8

+10.0%. European and Japanese regional convertibles were also positive but to a lower extend (+6.3% and +1.1% respectively). The fund benefited greatly from its overweighted positions as well as its overall overweighted delta.

Q1 2021: The strategy underperformed the benchmark. The Asia ex-Japan and Japan regions were the best performers. Regional convertible bonds’ indexes showed a return of +4.35% and +2.37% respectively over the quarter. US convertible bonds’ index was mainly flat at +0.32% and European convertible bonds index showed a negative return of -0.61%. The portfolio suffers mainly from its overweights in US Cloud and e-commerce companies such as Cloudflare, Mercadolibre, MongoDB, and Five9. On the other hand, positions in hardware companies proved to be resilient during the period and showed a strong positive performance such as Microchip, ON semiconductor and Silicon Laboratories. In Asia, the portfolio benefited from its overweighted positions in Postal Savings Bank, Kakao and Taiwan Cement. However, positions in NIO and Xiaomi showed negative returns. In Japan, we can note the good performance of Sony and Ship Healthcare.

Q2 2021: The strategy underperformed the benchmark. The US and Asia ex-Japan regions were the best performers. Regional convertible bonds’ indexes showed a return of +2.92% and +2.06% respectively over the quarter. European convertible bonds’ index was also up at +1.34% but Japan convertible bonds index showed a negative return of -1.36%. The portfolio suffers mainly from its positions in Europe and in the US. In Europe, the underweighted positions in Deutsche Wohnen and EDF as well as the overweighted position in Neoen resulted in a negative alpha. In the US, the underweighted positions in Dish Network, Proofpoint and Insulet contributed negatively. However, one can notice the good performance of the positions in Synaptics, MP Materials and Bentley Systems in the US as well as Kering, Sika and GN Store in Europe. In Asia, the performance was slightly negative in Japan but positive in the other Asian regions. The portfolio benefited from its overweighted positions in Anta Sport, Kakao, Taiwan Cement and China Education. However, positions in Li Auto, Meituan and Lenovo generated a negative alpha contribution.

9. NATIXIS AM Funds - Ostrum Multi Asset Global Income

The Fund outperformed its Reference Index (the Libor 3m in USD) by 5.78% (gross of of fees SI/C USD share class) in the 12 past months as of 30 June 2021. The fund realized an overall performance of 5.99% (gross of fees SI/C share class) VS. 0.21% for the benchmark.

In term of sequence, 20-Q4 has been particularly positive with +2.37% due to global asset recovery post-pandemic.

Over the year, the fund’s outperformance was mainly driven by the carry strategies and notably global HY, global emerging and US Corporates, subordinated bonds but also few growth strategies especially in Q4. In addition, our duration & curve overlay strategies together with several strategic multi-asset relative value trades also paid well over the year while the FX overlay is what cost us.

10. NATIXIS AM Funds – DNCA Euro Value Equity (formerly Ostrum Euro Value Equity)

The Fund outperformed its Reference Index.

The exposure to the Materials sector (+90%) and to Industrials (+43%) benefitted the fund over the period, as well as on the other hand the underexposure to Healthcare (+10%). The underexposure to the Technology sector (+35%) was detrimental to the performance.

ArcelorMittal (+178%) was the largest individual contributor to the performance, benefitting from a highly depressed valuation followed by a strong uptick in overall commodity prices, among which iron ore and steel. D’Ieteren (+78%), the Belgian owner of the Belron business, also showed a strong performance, thanks to the reopening of its « Carglass » centers and to the mobility normalization. The absence of exposure to SAP (-3%) also proved beneficial given the sharp guidance downgrade that was given by the company (impact of cloud migration).

Atos (-23%) penalized the performance, first with its planned acquisition of a US competitor (DXC), then with the accounting issues that occured at some of its US subsidiaries. We believed in the transformation story of the company, with a higher mix to growth areas, but decided to exit the position following the reserve from the auditor. The fund also suffered from a lack of exposure to ASML (+78% ) and LVMH (+71%) with the strong business momentum continuing for both names.

Performance of the fund : +35,76%. Performance of the MSCI EMU DNR : +30,21%.

NATIXIS AM Funds


Page 9

11. NATIXIS AM Funds - Natixis Conservative Risk Parity

The Fund posted a positive return of 3.4% (I Share) during the 12-month period ended June 30, 2021.

Most of the positive performance came from the equity compartment which benefited from a strong rally, especially after positive news on vaccine efficacy in November. While all geographical areas posted positive returns, the biggest contribution came from our position in European equities with some profitable sector bets on Banking and Construction. Our diversification pillar also delivered positive returns in all four sub-sectors (commodities, carry, long-term assets and absolute return funds), with listed private equity the best performing. Commodities benefited from the rise in energy and industrial metals, but the evolution of gold was less favorable. On the contrary, our bond pocket suffered, especially during the first quarter 2021 with a sharp rise in rates, even if we recorded some recovery at the end of the period.

12. NATIXIS AM Funds - Seeyond Multi Asset Conservative Growth Fund

Fund performance and main contributions

Over the period, the fund recorded a positive performance of 6.01% (class IA). The fund benefited from the recovery of risk on equities, reflation themes and caution on interest rates which were gradually implemented from October onwards following strategic quantitative signals and discretionary analysis which became more buoyant. Equities made a positive contribution, particularly US, Euro area and emerging market equities. Within the sectors, we opted for a dual attitude: value, pro-cyclical in order to be part of the global recovery dynamic, and opportunistic according to the earnings and valuation outlook. This strategy has been positive for the portfolio. Interest rates contributed negatively, and currencies and commodities were neutral to slightly negative. On the bonds market, diversification through inflation-linked U.S. government bonds and steepening positions on the U.S. yield curve contributed positively. The volatility of the US dollar did not allow the fund to benefit from downward currency positions in the US currency.

Environment

After a year of uncertainty dominated by the health risk, investors regained hope thanks to the medical, fiscal and monetary decisions that were voted and spent to remedy the pandemic and the economic chaos that followed. The main catalysts for the markets were: 1- the positive effects on macroeconomic surprises of the reopening of the countries affected by Covid, 2- the hopes and official announcements of ultra-accommodating monetary and fiscal measures in the United States but also in Europe, 3- the victory of Joe Biden in the White House, synonymous with a massive recovery plan, reflation and appeasement of international trade relations, 4- the historic agreement reached by the European Commission and the twenty-seven countries of the Union on a European recovery plan of 750 billion Euros, 5- the robustness of US and Chinese economic data, 6- the positioning of investors at extreme lows at the end of September and a massive infatuation of US retail investors with local technology stocks, 6- the positive news from the efficacy tests on the anti-Covid vaccine, the series of approvals that followed and the start of the global vaccination campaign.

Outlook

In the short term, profits are driving the equity markets. As of today, despite strong bullish revisions, earnings do not disappoint and support the indices. Every corrective movement continues to be used to buy. The skew structure shows that the market is protected and that the risk of a major correction is therefore low. Moreover, the probability of a negative surprise in US monetary policy seems low in the short term due to the persistent health risk in the US related to the Delta variant. A sharp and rapid rise in government bond yields for fundamental reasons seems to be ruled out in the short term. Thus, if the market were to consolidate, all else being equal, we would interpret it as a repositioning opportunity.

The risk we identify would be more of a rise in yields for "mechanical" reasons linked to the timing of issuances, but this could be done via a fall in short-term rates and not lead to a marked and lasting rise in risk aversion. The negative impact of the growing repression of the Beijing government on the local technology sector will also be monitored.

In the longer term, fundamentals are likely to improve around the world in the coming quarters, in line with the rise in global monetary aggregates and the US paradigm shift that the Biden administration wants to instill. The mitigation of the post-vaccination health risk expected in the second half of the year will be likely to fuel a climate of confidence more conducive to investment, as will the effective implementation of the infrastructure components of the stimulus plans that should be voted on during the year in the United States, and deployed in the coming months in the European Union. Thus, investments could quickly take over from the reopening themes in the macroeconomic figures. All this should benefit earnings. In addition, M&A programs are still a support for stocks, as are dividends. However, the evolution of the variants and the duration of protection of vaccines, the discussions around the anti-trust laws in the United States, the German elections, the financing of investment plans in the United States through higher corporate taxes, and the evolution of the world’s central bankers speeches could be a source of volatility in H2 and will have to be closely monitored.

NATIXIS AM Funds


Page 10

13. NATIXIS AM Funds - Seeyond Multi Asset Diversified Growth Fund

Fund performance and main contributions

Over the period, the fund recorded a positive performance of 12.76% (class IA). The fund benefited from the recovery of risk on equities, reflation themes and caution on interest rates which were gradually implemented from October onwards following strategic quantitative signals and discretionary analysis which became more buoyant. Equities made a positive contribution, particularly US, Euro area and emerging market equities. Within the sectors, we opted for a dual attitude: value, pro-cyclical in order to be part of the global recovery dynamic, and opportunistic according to the earnings and valuation outlook. This strategy has been positive for the portfolio. Interest rates contributed negatively, and currencies and commodities were neutral to slightly negative. On the bonds market, diversification through inflation-linked U.S. government bonds and steepening positions on the U.S. yield curve contributed positively. The volatility of the US dollar did not allow the fund to benefit from downward currency positions in the US currency.

Environment

After a year of uncertainty dominated by the health risk, investors regained hope thanks to the medical, fiscal and monetary decisions that were voted and spent to remedy the pandemic and the economic chaos that followed. The main catalysts for the markets were: 1- the positive effects on macroeconomic surprises of the reopening of the countries affected by Covid, 2- the hopes and official announcements of ultra-accommodating monetary and fiscal measures in the United States but also in Europe, 3- the victory of Joe Biden in the White House, synonymous with a massive recovery plan, reflation and appeasement of international trade relations, 4- the historic agreement reached by the European Commission and the twenty-seven countries of the Union on a European recovery plan of 750 billion Euros, 5- the robustness of US and Chinese economic data, 6- the positioning of investors at extreme lows at the end of September and a massive infatuation of US retail investors with local technology stocks, 6- the positive news from the efficacy tests on the anti-Covid vaccine, the series of approvals that followed and the start of the global vaccination campaign.

Outlook

In the short term, profits are driving the equity markets. As of today, despite strong bullish revisions, earnings do not disappoint and support the indices. Every corrective movement continues to be used to buy. The skew structure shows that the market is protected and that the risk of a major correction is therefore low. Moreover, the probability of a negative surprise in US monetary policy seems low in the short term due to the persistent health risk in the US related to the Delta variant. A sharp and rapid rise in government bond yields for fundamental reasons seems to be ruled out in the short term. Thus, if the market were to consolidate, all else being equal, we would interpret it as a repositioning opportunity.

The risk we identify would be more of a rise in yields for "mechanical" reasons linked to the timing of issuances, but this could be done via a fall in short-term rates and not lead to a marked and lasting rise in risk aversion. The negative impact of the growing repression of the Beijing government on the local technology sector will also be monitored.

In the longer term, fundamentals are likely to improve around the world in the coming quarters, in line with the rise in global monetary aggregates and the US paradigm shift that the Biden administration wants to instill. The mitigation of the post-vaccination health risk expected in the second half of the year will be likely to fuel a climate of confidence more conducive to investment, as will the effective implementation of the infrastructure components of the stimulus plans that should be voted on during the year in the United States, and deployed in the coming months in the European Union. Thus, investments could quickly take over from the reopening themes in the macroeconomic figures. All this should benefit earnings. In addition, M&A programs are still a support for stocks, as are dividends. However, the evolution of the variants and the duration of protection of vaccines, the discussions around the anti-trust laws in the United States, the German elections, the financing of investment plans in the United States through higher corporate taxes, and the evolution of the world’s central bankers speeches could be a source of volatility in H2 and will have to be closely monitored.

14. NATIXIS AM Funds - Seeyond Equity Factor Investing Europe (liquidated)

The sub-fund NATIXIS AM Funds - Seeyond Equity Factor Investing Europe has been liquidated on 4 November 2020. For the period from 30 June 2020 to 4 November 2020, the performance of the sub-fund was 0.13%. 15. NATIXIS AM Funds - Seeyond Europe Market Neutral

Review of Fund Performance:

Over the period, the Fund posted a positive performance of +0.80% compared to -0.48% for the EONIA. Over the period, we gradually increased our exposure to Utilities and Health Care, while reducing the exposure to Financials.

NATIXIS AM Funds


Page 11

Stock picking had a positive contribution to the overall performance, namely within Health Care, Technology and Consumer Discretionary. The top contributors to the Fund’s returns were Hermes, Kuehne & Nagel, Evolution, Stellantis and Signify. The largest detractors from the Fund’s returns were Fresenius Medical, SAP, Vopak, GlaxoSmithKline and Danone.

16. NATIXIS AM Funds - Seeyond Europe Minvol


The Fund returned +16.4% for the twelve-month period ended June 30, 2021, compared to +27.9% for the reference benchmark, the MSCI Europe NR. Over the period, the annualized volatility of the Fund was 11.3% compared to 14.4% for the index. Through the year we gradually increased our exposure to Materials, Communication Services and Financials, while reducing the weighting of Consumer Staples.

Over the period, in a context of a very strong recovery in cyclical stocks and generally with a stronger beta, the contributions of sector allocation and stock selection were both negative, which explains the underperformance of the Fund. More concretely, it is the underweighting of Consumer Cyclicals (best sector over the period at +54.6%) and the stock picking within Materials, Industrials and Financials that weighed the most on relative performance.

17. NATIXIS AM Funds - Seeyond US Minvol (liquidated)

The sub-fund NATIXIS AM Funds - Seeyond US Minvol has been liquidated on 24 November 2020. For the period from 30 June 2020 to 24 November 2020, the performance of the sub-fund was 7.73% 18. NATIXIS AM Funds - Seeyond Global Minvol


The Fund returned +11.7% for the twelve-month period ended June 30, 2021, compared to +31.9% for the reference benchmark, the MSCI AC World NR €. Over the period, the annualized volatility of the Fund was 7.9% compared to 12.1% for the index. Through the year we gradually increased our exposure to Health Care, Technology and Financials, while reducing the overweighting in Consumer Staples and Communication Services

Over the period, in a context of a very strong recovery in cyclical stocks and generally with a stronger beta, the contributions of sector allocation and stock selection were both negative, which explains the underperformance of the Fund. More concretely, it is the overweighting of Consumer Staples and Utilities and the stock picking within Consumer Discretionary, Communication Services, Financials and Materials that weighed the most on relative performance.

19. NATIXIS AM Funds - Seeyond Volatility Strategy (formerly Seeyond Equity Volatility Strategies)

From June 2020 to June 2021, the sub-fund returned -6.09% and its average Vega over the period was 0.8%. During Q3 2020, Equities continued their rise mostly on the back of US Tech, meanwhile Europe began to be capped. Implied volatilities remained high and the VIX kept ranging between 25 and 30 during this period.

Throughout Q4 2020, all eyes riveted on the US Presidential election and the VIX peaked at 40 while fearing a second Covid-19 wave. Eventually it came back around 22 at the end of November and stayed there until year end while Equities were rising to new all-time highs.

Q1 2021 began well for Equities with only few stress episodes coming from Pension Funds end of month rebalancing. Investors had a lively debate regarding future evolution of inflation and US 10Y rate evolved from 0.9% to more than 1.7%.

During Q2 2021, reflation thematic marked a downturn while growth peaked and inflation stabilized. Lastly, Equities’s realized volatility significantly declined, which allowed the VIX to end the quarter around post Covid lows at 16. As volatility gradually normalized, the fund gradually added some Vega to end the period at 1.2%. The fund returned +0.19% in Q1 2020, -2.11% in Q2 2020, -2.26% in Q1 2021 and -2.03% in Q2 2021.

20. NATIXIS AM Funds - Ostrum Global Emerging Bonds

Ostrum Global Emerging Bonds posted a performance of +6.76% (net performance, institutional share in usd) over this period characterized by a significant tightening of risk premiums of the emerging external debt (from 474 bp to 340 bp). They thus offset the rise of US Treasury bond yields which were in early July 2020 close to a historical low at 0.68% for the 10year yields given the shock of the pandemic on the global economy.

NATIXIS AM Funds


Page 12

Severely hurt by the crisis during the winter 2020, sovereign emerging issuers rated “high yield” made a comeback and outperformed those rated “investment grade” with an average performance of +13.08% versus + 3.02% respectively.

The performance of Ostrum Global Emerging Bonds has been in line with its benchmark from July 2020 to October 2020 and outperformed it in the last quarter of 2020. The acceleration of the spread tightening during those months impacted positively the performance of the portfolios.

The strong economic rebound in the world and particularly in the US led to significant increases in consumer price inflation expectations from February to April 2021. US Treasury yields saw growing pressures and rose from 1.07% to 1.75%, making this first quarter of 2021 one of the worst ever for the US treasury bond performances. The spread tightening of the emerging debt came to a halt in February and fluctuated between 330 and 360 after. High yield issuers started to underperform in June with the outlook of a Fed quantitative easing tapering perspective in late 2021. These stronger volatilities of both US treasury yields and emerging debt spreads led to an underperformance of Ostrum Global Emerging Bonds in June 2021 compared to its benchmark, the JP EMBI Global Diversified, which has had a total performance of 7.17%.

21. NATIXIS AM Funds – DNCA Global Emerging Equity (formerly Ostrum Global Emerging Equity)

For the period from 01st of July 2020 to 30 June 2026, the performance of the DNCA Global Emerging Equity fund (of the Natixis AM Funds SICAV, based in Luxembourg) was +26.91% for I units in euros (starting NAV: €13,304; closing NAV: €16,884).

Over the same period, the performance of the MSCI Emerging Markets Investable Market Index (IMI) was +35.26% (in euros, net dividends reinvested).

Over the period, the funds’ under-performance can be explained by the strong rebound of cyclicals stocks on the back of robust macro-economic rebound following the impact of Covid 19 on the economy as well as material style rotation from Growth to Value Investment.

Among the negative contributors to the fund’s performance, two Chinese education companies, Tal (China, Education, -52%) and Offcn education (China, Education, -21%) adversely impacted by the deterioration of the regulatory environment on the Education sector in China. Still I China, Sun Retail (China, Food retailer, -38%) profits outlook has been affected by a fiercer competitive environment, especially from e-commerce. Following a solid performance early 2020, NCsoft (South Korea, Gaming, -6%) momentum deteriorated in the second half 2020 and first half 2021 on the back of weaker new games launch.

On the other hand, looking at the positive contributor to the performance, two pharmaceuticals companies Wuxi Apptec (China, Healthcare, +106%) and Wuxi biologics (China, Healthcare, +203%) have benefited from a very strong demand for pharmaceutical products R&D as well as manufacturing outsourcing. Kakao corp (South Korea, Media & Entertainment, +207%), the Super App of South Korea, has been boosted by the IPO listing or announcement of 3 of its main divisions: Entertainment, Banking et Payment. Finally, Apollo Hospitals (India, Hospitals, +126%) valuation has been driven by the expansion of its Telemedicine activity as well as higher demand due to fast propagation of Covid in India over this period.

22. NATIXIS AM Funds - DNCA Global Sport Equity Fund (launched on 24/03/21)

The fund was launched on March 24th 2021. Since this date it has outperformed its reference index.

This outperformance is mainly explained by the very good operational trends of most of the companies in the portfolio. They have been able to beat expectations during the last quarterly publications.

Main contributors were : Li Ning +89%, Grupo SBF +61%, Anta Sports +39%, Dick’s Sporting Goods +32%, Puma +22%, SkiStar +22%, MIPS +21%, Acushnet +20%, Skechers +19%, Lululemon +19%.

We have to mention that some companies have not performed well during the period: Vogo -21%, BRP -9%, Huya -9%, Columbia -7%, Modern Times Group -7%, Science in Sport -5%.

Performance of the fund : +13,28%, performance of the Msci AC World TR +9,18%.

Nb : Stock performance is calculated since the introduction of the stock in the portfolio if the stock was not in the portfolio at the beginning of the study period.

KPMG Luxembourg, Société coopérative 39, Avenue John F. Kennedy L-1855 Luxembourg

Tel.: +352 22 51 51 1 Fax: +352 22 51 71 E-mail: [email protected] Internet: www.kpmg.lu

KPMG Luxembourg, Société coopérative, a Luxembourg entity and a T.V.A. LU 27351518 member firm of the KPMG network of independent member firms R.C.S. Luxembourg B 149133 affiliated with KPMG International Cooperative (“KPMG International”),

To the Shareholders of Natixis AM Funds 5, Allée Scheffer L-2520 Luxembourg

REPORT OF THE REVISEUR D’ENTREPRISES AGREE

16Page

Natixis AM FundsCombined statements

The accompanying notes form an integral part of these financial statements

17Page

5,268,727,351.59Assets4,834,157,510.62Securities portfolio at market value 2a)Note4,577,505,713.24Cost price

256,651,797.38Unrealised profit on the securities portfolio9,407,595.13Options purchased at market value 2d)Note

14,802,211.25Options purchased at cost317,422,548.68Cash at banks and liquidities22,650,348.54Interest receivable8,268,438.85Brokers receivable5,725,309.31Subscriptions receivable2,741,166.56Dividends receivable

171,030.35Net unrealised appreciation on forward foreign exchange contracts 2b)Note

834,261.65Net unrealised appreciation on financial futures 2c)Note

80,772.65Net unrealised appreciation on swaps 2e), 7, 8Note

66,312,197.95Receivable on spot exchange956,171.30Other assets

270,922,801.59Liabilities2,637,798.85Options sold at market value 2d)Note6,421,281.71Options sold at cost3,376,027.85Bank overdrafts

10,700,265.02Brokers payable160,190,260.98Payable for repurchase transactions 2l), 10Note

6,538,303.32Accrued performance fees payable 4Note

3,265,453.34Redemptions payable7,870,117.14Net unrealised depreciation on forward foreign exchange contracts 2b)Note

5,070,763.50Net unrealised depreciation on financial futures 2c)Note

1,105,653.01Net unrealised depreciation on swaps 2e), 7, 8Note

66,532,725.18Payable on spot exchange2,359,117.37Accrued expenses1,276,316.03Other liabilities

4,997,804,550.00Net asset value

Natixis AM Funds

Financial Statements as at 30/06/21

Expressed in EUR

Statement of net assets as at 30/06/21

Combined statements


18Page

108,071,188.34Income42,887,232.34Net dividends 2i)Note

59,108,926.25Net interest on bonds 2i)Note

1,658,379.86Bank interest on cash account56.63Bank interest on time deposits

422,487.05Securities lending income, net 2l), 9Note

2,125,613.07Interest on swaps259,262.67Other income

1,609,230.47Income on repurchase transactions 2l), 10Note

54,683,717.54Expenses27,990,896.13Management fees 3Note

1,741,671.94Depositary fees828,528.17Taxe d'abonnement 5Note

805,701.48Administration fees 3Note

6,532,109.58Performance fee 4Note

51,845.62Domiciliation fees162,436.76Professional fees

2,078,098.10Bank interest on overdrafts10,667.60Legal fees

6,478,275.37Transaction fees 2k)Note

1,084,846.21Expenses on repurchase and reverse repurchase transactions4,170,350.72Interest on swaps2,748,289.86Other expenses

53,387,470.80Net income from investments

Net realised profit / (loss) on:155,770,116.84- sales of investment securities 2h)Note

5,113,185.72- options25,073,170.27- forward foreign exchange contracts74,776,479.30- financial futures-1,315,534.01- swaps

-25,762,029.88- foreign exchange

287,042,859.04Net realised profit

Movement in net unrealised appreciation / (depreciation) on:141,497,263.16- investments

-754,967.68- options-11,115,323.44- forward foreign exchange contracts-3,770,814.45- financial futures

369,475.78- swaps

413,268,492.41Increase in net assets as a result of operations

-20,860,700.27Dividends paid 6Note

895,681,341.07Subscription capitalisation shares105,557,502.61Subscription distribution shares

-1,985,841,347.56Redemption capitalisation shares-289,713,610.22Redemption distribution shares

-881,908,321.96Decrease in net assets

EUR

Statement of Operations and Changes in Net Assets from 01/07/20 to 30/06/21


Expressed in


19Page

-17,324,270.41Reevaluation of opening combined NAV

5,897,037,142.37Net assets at the beginning of the year

4,997,804,550.00Net assets at the end of the year

EUR

Statement of Operations and Changes in Net Assets from 01/07/20 to 30/06/21


Expressed in

20Page

Natixis AM Funds- Ostrum Euro Bonds Opportunities 12 Months


21Page

58,903,320.86Assets54,138,100.65Securities portfolio at market value 2a)Note54,366,563.81Cost price

-228,463.16Unrealised loss on the securities portfolio4,431,943.28Cash at banks and liquidities

312,332.35Interest receivable20,944.58Net unrealised appreciation on financial futures 2c)Note

4,323,907.93Liabilities259,295.38Bank overdrafts

4,050,000.00Payable for repurchase transactions 2l), 10Note

735.97Redemptions payable8,669.78Accrued expenses5,206.80Other liabilities

54,579,412.93Net asset value


Expressed in EUR


Natixis AM Funds - Ostrum Euro Bonds Opportunities 12 Months

Changes in number of shares outstanding from 01/07/20 to 30/06/21

Shares issued Shares redeemedShares

outstanding as at30/06/21

Sharesoutstanding as at

01/07/20

Class I (EUR) 432.50 129.67 439.17 123.00

Class R (EUR) 296.28 88.85 76.50 308.63

Class SI (EUR) (*) 480,980.00 30,000.00 57,780.00 453,200.00


22Page

Statistics


(*) Launched on 25/10/19.

Total Net Assets 54,579,412.93 74,199,208.32 107,606,366.83

30/06/1930/06/2030/06/21Year ending as at:

EUR

Class I (EUR)

54,888.28

123.00 432.50

54,894.17

1,894.38

54,887.04

Number of shares

Net asset value per share EUR

Class R (EUR)

7,772.39

308.63 296.28

7,795.99

464.30

7,817.47

Number of shares


Class SI (EUR) (*)

100.24

453,200.00 480,980.00

100.10

0.00

0.00

Number of shares



23Page

AUSTRIA 0.00 16-23 15/07U5,375,000.00 5,445,305.00 9.98EUR

Transferable securities and money market instruments admitted to an official stockexchange listing and/or dealt in on another regulated market 54,138,100.65 99.19

Bonds and money market instruments 54,138,100.65 99.19

Austria 5,445,305.00 9.98

FINLAND 0.00 16-23 15/09U2,000,000.00 2,029,220.00 3.72EURFinland 17,578,339.15 32.20

FINNVERA 0.625 15-22 22/09A5,365,000.00 5,443,919.15 9.97EUR

NORDISKA INVESTERING 0.00 20-23 06/04A10,000,000.00 10,105,200.00 18.51EUR

BPIFRANCE SA 0.125 17-23 25/11A3,800,000.00 3,856,430.00 7.07EURFrance 14,660,522.50 26.86

FRANCE OAT 8.25 92-22 25/04A3,125,000.00 3,352,625.00 6.14EUR

FRANCE 1.75 12-23 25/05A7,125,000.00 7,451,467.50 13.65EUR

GERMANY 1.50 12-22 04/09A7,125,000.00 7,311,176.25 13.40EURGermany 7,311,176.25 13.40

ITALY 5.50 12-22 01/09S300,000.00 320,754.00 0.59EURItaly 320,754.00 0.59

SPAIN 0.75 16-21 30/07A500,000.00 500,535.00 0.92EURSpain 3,024,035.00 5.54

SPAIN 0.0000 20-23 30/04A2,500,000.00 2,523,500.00 4.62EUR

NETHERLANDS 2.25 12-22 15/07A5,625,000.00 5,797,968.75 10.62EURThe Netherlands 5,797,968.75 10.62

Total securities portfolio 54,138,100.65 99.19

Securities portfolio as at 30/06/21EURExpressed in


Quantity DenominationQuotationcurrency

% of netassets

Market value


24Page

Statement of Operations and Changes in Net Assets from 01/07/20 to 30/06/21Expressed in EUR


1,282,356.67Income4,589.64Net dividends 2i)Note


42,198.48Bank interest on cash account2,671.39Securities lending income, net 2l), 9Note

25,644.65Income on repurchase transactions 2l), 10Note

309,338.88Expenses113,878.73Management fees 3Note

28,708.29Depositary fees7,607.33Taxe d'abonnement 5Note


239.35Performance fee 4Note


39,760.76Bank interest on overdrafts84.59Legal fees

38,280.06Transaction fees 2k)Note

42,542.39Expenses on repurchase and reverse repurchase transactions11,756.76Other expenses

973,017.79Net income from investmentsNet realised profit / (loss) on:

-1,272,649.76- sales of investment securities 2h)Note

94,935.17- financial futures711.28- foreign exchange

-203,985.52Net realised lossMovement in net unrealised appreciation / (depreciation) on:

246,070.46- investments20,944.58- financial futures

63,029.52Increase in net assets as a result of operations10,824,692.45Subscription capitalisation shares

-30,507,517.36Redemption capitalisation shares


74,199,208.32Net assets at the beginning of the year

54,579,412.93Net assets at the end of the year

25Page

Natixis AM Funds- Ostrum Euro Short Term Credit


26Page

1,023,863,803.54Assets971,551,530.46Securities portfolio at market value 2a)Note979,510,421.69Cost price

-7,958,891.23Unrealised loss on the securities portfolio39,829,198.28Cash at banks and liquidities9,794,922.30Interest receivable2,639,629.07Subscriptions receivable

48,523.43Other assets



94,194.61Redemptions payable10,670.00Net unrealised depreciation on financial futures 2c)Note

123,694.93Net unrealised depreciation on swaps 2e), 7, 8Note

212,901.72Accrued expenses369,658.51Other liabilities



Expressed in EUR


Natixis AM Funds - Ostrum Euro Short Term Credit





01/07/20

Class SI (EUR) 8,917,240.44 1,078,149.77 5,246,166.96 4,749,223.25

Class SI (EUR) - Distribution 1,805,344.27 96,737.20 362,709.42 1,539,372.05

Class N1 (EUR) 1,752,222.27 330,551.32 1,088,350.99 994,422.60

Class I (EUR) 24,065.36 8,679.09 16,629.13 16,115.32

Class I (EUR) - Distribution 69.43 0.00 22.07 47.36

Class N (EUR) 75,003.84 104,147.91 87,146.79 92,004.96

Class R (EUR) 621,259.00 142,484.45 251,953.01 511,790.44

Class R (EUR) - Distribution (*) 99.75 0.00 0.00 99.75

Class RE (EUR) 4,417.17 0.00 2,191.46 2,225.71


27Page

Statistics


(*) Closed on 31/05/19 and launched on 29/10/19.

Total Net Assets 980,046,492.22 1,578,013,754.75 1,360,821,732.67

30/06/1930/06/2030/06/21Year ending as at:

EUR

Class SI (EUR)

104.69

4,749,223.25 8,917,240.44

102.08

6,297,869.85

103.83

Number of shares


Class SI (EUR) - Distribution

93.84

1,539,372.05 1,805,344.27

93.26

2,571,209.93

96.62

Number of shares


Class N1 (EUR)

101.06

994,422.60 1,752,222.27

98.70

976,301.48

100.55

Number of shares


Class I (EUR)

10,805.98

16,115.32 24,065.36

10,549.85

25,638.71

10,746.68

Number of shares


Class I (EUR) - Distribution

9,222.34

47.36 69.43

9,118.49

1,812.70

9,446.60

Number of shares


Class N (EUR)

100.98

92,004.96 75,003.84

98.74

3,481.62

100.73

Number of shares


Class R (EUR)

105.01

511,790.44 621,259.00

102.99

632,089.19

105.38

Number of shares


Class R (EUR) - Distribution (*)

94.95

99.75 99.75

94.37

0.00

0.00

Number of shares


Class RE (EUR)

102.35

2,225.71 4,417.17

100.98

6,325.72

103.94

Number of shares



28Page

TELEKOM FINANZ 3.50 13-23 04/07A2,900,000.00 3,116,079.00 0.32EUR



Austria 3,116,079.00 0.32

ICBC 0.25 19-22 25/04A3,200,000.00 3,212,960.00 0.33EURChina 3,212,960.00 0.33

DANSKE BANK A/S 0.875 18-23 22/05A3,000,000.00 3,054,720.00 0.31EURDenmark 5,876,084.00 0.60

NYKREDIT REALKREDIT 0.2500 19-23 20/01A2,800,000.00 2,821,364.00 0.29EUR

ALD SA 0.0000 21-24 23/02A2,400,000.00 2,400,960.00 0.24EURFrance 179,138,155.00 18.28

ATOS SE 0.7500 18-22 07/05A5,000,000.00 5,037,450.00 0.51EUR

AXA SA FL.R 14-XX 08/10A2,000,000.00 2,260,420.00 0.23EUR

AXA SA 5.125 13-43 04/07A3,000,000.00 3,301,650.00 0.34EUR

BNP PARIBAS 1.00 17-24 29/11A9,000,000.00 9,232,560.00 0.94EUR

BPCE 4.625 13-23 18/07A12,000,000.00 13,156,320.00 1.34EUR

CAPGEMINI SE 1.250 20-22 15/04A10,000,000.00 10,112,400.00 1.03EUR

CROWN EURO HOLDINGS 4.00 14-22 15/07S3,000,000.00 3,091,320.00 0.32EUR

ILIAD SA 2.125 15-22 05/12A15,800,000.00 16,166,876.00 1.66EUR

ILIAD SA 0.6250 18-21 25/11A3,000,000.00 3,006,120.00 0.31EUR

ILIAD SA 0.7500 21-24 11/02A9,900,000.00 9,895,347.00 1.01EUR

IMERYS SA 2.00 14-24 10/12A5,300,000.00 5,635,225.00 0.57EUR

INGENICO 1.625 17-24 13/09A6,100,000.00 6,367,363.00 0.65EUR

KERING 0.2500 20-23 13/05A3,600,000.00 3,635,856.00 0.37EUR

NEXANS SA 3.75 18-23 08/08A3,000,000.00 3,194,070.00 0.33EUR

PSA BANQUE FRAN 0.5000 19-22 12/04A9,500,000.00 9,558,900.00 0.98EUR

PSA BANQUE FRANCE 0.0 21-25 22/01A7,200,000.00 7,187,040.00 0.73EUR

RCI BANQUE SA 0.2500 19-23 08/03A8,400,000.00 8,448,552.00 0.86EUR

RENAULT SA 2 19-24 11/07A9,000,000.00 9,478,980.00 0.97EUR

SAFRAN SA 0.1250 21-26 16/03A2,200,000.00 2,204,928.00 0.22EUR

SOCIETE GENERALE 4.00 13-23 07/06A16,800,000.00 18,081,168.00 1.85EUR

VALEO SA 3.25 14-24 22/01A5,000,000.00 5,388,400.00 0.55EUR

VERITAS SA 1.25 16-23 07/09A9,700,000.00 9,937,650.00 1.01EUR

WORLDLINE SA 0.5 20-23 30/06A12,200,000.00 12,358,600.00 1.26EUR

ADLER REAL ESTATE AG 1.875 18-23 27/04A5,000,000.00 5,031,100.00 0.51EURGermany 49,251,899.00 5.03

CONTINENTAL AG 0.00 19-23 05/09U4,100,000.00 4,108,528.00 0.42EUR

INFINEON TECHNO 0.7500 20-23 24/06A3,500,000.00 3,560,515.00 0.36EUR

MERCK KGAA FL.R 14-74 12/12A2,000,000.00 2,196,520.00 0.22EUR

MUNICH RE 6.25 12-42 26/05A10,000,000.00 10,556,900.00 1.09EUR

VANTAGE TOWERS 0.0000 21-25 31/03A5,500,000.00 5,483,445.00 0.56EUR

VOLKSWAGEN FINANCIAL 0.625 19-22 01/04A4,800,000.00 4,835,184.00 0.49EUR

VOLKSWAGEN LEASING 0.00 21-24 19/07A7,700,000.00 7,695,688.00 0.79EUR




AQUARIUS INVESTMENTS 4.25 13-43 02/10A16,700,000.00 18,275,311.00 1.86EURIreland 32,082,923.00 3.27

CLOVERIE PLC SWISS RE 6.625 12-42 01/09A6,500,000.00 7,004,205.00 0.71EUR

DELL BANK INTER 0.6250 19-22 17/10A2,000,000.00 2,021,960.00 0.21EUR

FCA BANK SPA 0.00 21-24 16/04A1,500,000.00 1,500,285.00 0.15EUR

FCA BANK SPA 0.50 20-23 18/09A2,200,000.00 2,224,222.00 0.23EUR

SMURFIT KAPPA 2.375 17-24 01/02S1,000,000.00 1,056,940.00 0.11EUR

ENI SPA 4.0000 18-23 12/09S8,000,000.00 7,210,995.87 0.74USDItaly 61,593,485.87 6.28

INTESA SANPAOLO 1.0000 19-24 04/07A17,000,000.00 17,511,190.00 1.79EUR


MEDIOBANCA 0.625 17-22 27/09A3,500,000.00 3,538,570.00 0.36EUR

UNICREDIT SPA 6.95 12-22 31/10A18,100,000.00 19,738,050.00 2.00EUR

ASAHI GROUP HOL 0.1550 20-24 23/10A2,500,000.00 2,517,125.00 0.26EURJapan 8,769,545.00 0.89

NISSAN MOTOR CO 1.94 20-23 15/09A6,000,000.00 6,252,420.00 0.63EUR

CNH INDUSTRIAL 0.00 -24 01/04U3,800,000.00 3,799,468.00 0.39EURLuxembourg 11,027,404.00 1.13




% of netassets

Market value


29Page

INPOST SA 2.25 21-27 15/07S1,600,000.00 1,612,816.00 0.16EUR

TRATON FINANCE LUX 0.125 21-25 24/03A5,600,000.00 5,615,120.00 0.58EUR

GALP ENERGIA 1.00 17-23 15/02A4,500,000.00 4,573,125.00 0.47EURPortugal 4,573,125.00 0.47

BANCO BILBAO VIZCAYA 1.125 19-24 28/02A2,000,000.00 2,064,700.00 0.21EURSpain 61,326,578.00 6.26

BANCO DE SABADELL SA 1.75 19-24 10/05A10,000,000.00 10,381,800.00 1.06EUR

BANCO SANTANDER SA 2.50 15-25 18/03A21,500,000.00 23,279,770.00 2.38EUR

CAIXABANK SA 1.75 18-23 24/10A8,000,000.00 8,336,800.00 0.85EUR

CELLNEX FINANCE 0.75 21-26 15/11A2,000,000.00 1,986,380.00 0.20EUR

CRITERIA CAIXA SA 1.5 17-23 10/05A4,000,000.00 4,118,200.00 0.42EUR

PROSEGUR CIA 1.00 18-23 08/02A4,900,000.00 4,976,048.00 0.51EUR

SANTANDER CONS FIN 1.1250 18-23 09/10A6,000,000.00 6,182,880.00 0.63EUR

SCANIA CV AB 0.50 20-23 06/10A4,700,000.00 4,757,998.00 0.48EURSweden 7,176,718.00 0.73

VOLVO TREASURY 0.125 20-24 17/09A2,400,000.00 2,418,720.00 0.25EUR

CS AG REGS 6.50 13-23 08/08S5,000,000.00 4,668,732.61 0.48USDSwitzerland 4,668,732.61 0.48

BMW FINANCE NV 0.00 19-23 24/03A5,000,000.00 5,028,600.00 0.51EURThe Netherlands 41,210,500.00 4.20

DAIMLER INTL FI 0.2500 19-23 06/11A6,000,000.00 6,054,840.00 0.62EUR

DIGITAL DUTCH FINCO 0.125 20-22 15/10A2,200,000.00 2,209,130.00 0.23EUR

LEASEPLAN CORP 0.75 17-22 03103A3,400,000.00 3,442,262.00 0.35EUR

LEASEPLAN CORPORATION 0.1250 19-23 13/05,700,000.00 5,733,972.00 0.59EUR

UPJOHN FINANCE 0.8160 20-22 23/06A5,000,000.00 5,048,350.00 0.52EUR

UPJOHN FINANCE 1.0230 20-24 23/06A6,000,000.00 6,170,580.00 0.62EUR

ZF EUROPE FINANCE 1.250 16-23 23/10A7,400,000.00 7,522,766.00 0.76EUR

BARCLAYS PLC 1.50 14-22 01/04A3,000,000.00 3,041,940.00 0.31EURUnited Kingdom 23,647,368.00 2.41

BARCLAYS PLC 6.625 11-22 30/03A7,000,000.00 7,352,660.00 0.75EUR

EASYJET PLC 0.8750 19-25 11/067,000,000.00 7,021,490.00 0.72EUR

HITACHI CAPITAL 0.1250 19-22 29/11A5,000,000.00 5,017,850.00 0.51EUR

NOMAD FOODS BON 2.5000 21-28 24/06S1,200,000.00 1,213,428.00 0.12EUR

AT&T INC 2.50 13-23 15/03A9,000,000.00 9,361,620.00 0.96EURUnited States of America 86,388,991.20 8.81

DIGITAL EURO 2.625 16-24 15/04A7,000,000.00 7,493,290.00 0.76EUR

FIDELITY NATIONAL INF 0.125 19-22 03/12A10,000,000.00 10,050,700.00 1.03EUR

GENERAL ELECTRIC CO 0.375 17-22 17/05A6,180,000.00 6,212,383.20 0.63EUR


GENERAL MOTORS FIN 0.20 19-20 02/09A3,200,000.00 3,213,984.00 0.33EUR

GOLDMAN SACHS GROUP 0.1250 19-24 19/08A3,000,000.00 3,009,840.00 0.31EUR

HARLEY-DAVIDSON FIN 0.90 19-24 19/11A5,700,000.00 5,830,302.00 0.59EUR

INTL FLAVOR 0.5 18-21 25/09A8,000,000.00 8,009,840.00 0.82EUR

INTL FLAVORS & FRAG 1.75 16-24 14/03A3,000,000.00 3,134,880.00 0.32EUR

WELLS FARGO 0.50 19-24 26/04A4,300,000.00 4,369,402.00 0.45EUR

ANZ BANKING GRP FL.R 19-29 21/11A3,800,000.00 3,885,120.00 0.40EUR

Floating rate notes 280,850,064.86 28.66

Australia 3,885,120.00 0.40

ERSTE GROUP BANK AG FL.R 16-XX 15/10S3,000,000.00 3,074,430.00 0.31EURAustria 10,132,716.00 1.03

OMV AG FL.R 15-XX 09/12A6,900,000.00 7,058,286.00 0.72EUR

ORSTED FL.R 13-XX 26/06A476,000.00 533,434.16 0.05EURDenmark 533,434.16 0.05

BALDER FINLAND FL.R 21-23 14/06Q2,200,000.00 2,204,004.00 0.22EURFinland 9,218,424.00 0.94

NORDEA BANK FL.R 16-26 07/09A7,000,000.00 7,014,420.00 0.72EUR

ARKEMA SA FL.R 19-49 31/12A3,000,000.00 3,174,780.00 0.32EURFrance 70,663,291.95 7.21

CNP ASSURANCES FL.R 11-41 30/09A6,400,000.00 6,514,688.00 0.66EUR

CREDIT AGRICOLE FL.R 20-30 05/06A4,600,000.00 4,782,390.00 0.49EUR

EDF FL.R 18-99 04/10A12,000,000.00 12,866,760.00 1.31EUR

ORANGE FL.R 14-XX 07/02A7,300,000.00 8,207,536.00 0.84EUR

TOTALENERGIES FL.R 16-49 18/05A29,195,000.00 30,152,887.95 3.08EUR

UNIBAIL RODAMCO FL.R 18-XX 25/10A5,000,000.00 4,964,250.00 0.51EUR




% of netassets

Market value


30Page

ALLIANZ SE FL.R 12-42 17/10A6,000,000.00 6,435,420.00 0.66EURGermany 49,560,590.00 5.06

ALLIANZ SE FL.R 13-XX 24/10A22,000,000.00 24,269,520.00 2.47EUR

COMMERZBANK AG FL.R 20-26 24/03A4,000,000.00 4,075,760.00 0.42EUR

DEUTSCHE BANK AG 1.00 -25 19/11A9,000,000.00 9,191,790.00 0.94EUR

HANNOVER RUECK SE FL.R 14-XX 26/06A5,000,000.00 5,588,100.00 0.57EUR

ASSICURAZ GENERALI FL.R 12-42 10/07A1,700,000.00 1,879,826.00 0.19EURItaly 10,598,099.75 1.08

BANCO BPM SPA FL.R 20-30 14/09A5,000,000.00 5,476,000.00 0.56EUR

ENI SPA FL.R 20-49 31/12A2,000,000.00 2,103,740.00 0.21EUR

UNICREDIT FL.R 14-XX 10/09S1,125,000.00 1,138,533.75 0.12EUR

TALANX FINANZ EMTN FL.R 12-42 15/06A14,000,000.00 15,127,560.00 1.54EURLuxembourg 15,127,560.00 1.54

ENERGIAS DE PORTUGAL FL.R 19-79 30/04A3,500,000.00 3,817,625.00 0.39EURPortugal 3,817,625.00 0.39

AMADEUS IT GROUP SA FL.R 18-22 18/03Q6,700,000.00 6,705,829.00 0.69EURSpain 34,548,022.00 3.53

BANCO BILBAO VI FL.R 18-XX 24/03Q2,000,000.00 2,163,900.00 0.22EUR

BANCO DE SABADELL SA FL.R 20-23 29/06A2,100,000.00 2,138,892.00 0.22EUR


BANCO SANTANDER SA FL.R 17-XX XX/XXQ2,000,000.00 1,910,380.00 0.19EUR

BANCO SANTANDER SA FL.R 14-XX 11/09Q2,000,000.00 2,021,680.00 0.21EUR

BBVA S5 REGS FL.R 17-XX 24/08Q7,000,000.00 7,296,940.00 0.75EUR

CAIXABANK SA FL.R 17-28 14/07A5,000,000.00 5,223,300.00 0.53EUR


AKELIUS RESIDENTIAL FL.R 18-78 05/10A2,000,000.00 2,120,500.00 0.22EURSweden 7,356,250.00 0.75

TELIA COMPANY AB FL.R 17-78 04/04A5,000,000.00 5,235,750.00 0.53EUR

CREDIT SUISSE FL.R 17-25 17/07A7,000,000.00 7,190,120.00 0.73EURSwitzerland 9,255,420.00 0.94

UBS GROUP SUB FL.R 15-XX 19/02A2,000,000.00 2,065,300.00 0.21EUR

IBERDROLA INTL BV 1.874 20-99 31/12A2,600,000.00 2,684,552.00 0.27EURThe Netherlands 13,788,112.00 1.41

ING GROUP NV FL.R 17-28 11/04A4,000,000.00 4,198,640.00 0.43EUR

TELEFONICA EUROPE BV FL.R 17-XX 07/06M2,500,000.00 2,559,000.00 0.26EUR

TELEFONICA EUROPE BV FL.R 19-XX 14/03A4,000,000.00 4,345,920.00 0.45EUR

BARCLAYS PLC FL.R 17-28 07/02A3,000,000.00 3,076,830.00 0.31EURUnited Kingdom 25,139,290.00 2.57

BARCLAYS PLC FL.R 20-25 02/04A6,000,000.00 6,539,160.00 0.67EUR

HSBC HOLDING FL.R 14-XX 16/09S10,000,000.00 10,475,700.00 1.07EUR

SANTANDER UK GROUP FL.R 20-25 28/02A5,000,000.00 5,047,600.00 0.52EUR

GOLDMAN SACHS GROUP FL.R 21-24 30/04A2,600,000.00 2,601,872.00 0.27EURUnited States of America 17,226,110.00 1.76

WELLS FARGO FL.R 20-25 04/05A14,100,000.00 14,624,238.00 1.49EUR

CARREFOUR BANQUE 0.107 21-25 14/06A1,500,000.00 1,503,075.00 0.15EUR

Other transferable securities 15,205,727.00 1.55


France 1,503,075.00 0.15

VOLKSWAGEN LEASING 0.000001 21-23 12/07A3,400,000.00 3,405,474.00 0.35EURGermany 3,405,474.00 0.35

FCA BANK SPA IR 0.00 21-23 27/01A5,000,000.00 5,006,300.00 0.51EURIreland 5,006,300.00 0.51

TRATON FINANCE LUX 0 21-24 14/06A2,100,000.00 2,102,142.00 0.21EURLuxembourg 2,102,142.00 0.21

CPT NV 0.5 21-25 21/06A3,200,000.00 3,188,736.00 0.33EURThe Netherlands 3,188,736.00 0.33

OS EURO ABS IG -SI- 4 DEC111.00 14,040,231.27 1.43EUR

Shares/Units of UCITS/UCI 92,435,190.92 9.43

Shares/Units in investment funds 92,435,190.92 9.43

France 76,833,400.52 7.84

OS EURO ABS OPP-IC- 2 DEC198.00 24,328,933.20 2.48EUR

OSTRUM GLOBAL SUBORD FCP EUR 4 DEC1,220.50 15,476,733.33 1.58EUR

OSTRUM TRESORIE PLUS -IC- EUR CAP224.00 22,987,502.72 2.35EUR




% of netassets

Market value


31Page

OSTRUM CREDIT OPPORTUNITIES SI A EUR CAP12,840.00 1,388,517.60 0.14EURLuxembourg 15,601,790.40 1.59

OSTRUM SHT TRM GL HIC-HSAEUR135,120.00 14,213,272.80 1.45EUR





% of netassets

Market value


32Page






1,237,067.22Interest on swaps318,127.30Income on repurchase transactions 2l), 10Note







1,940.68Expenses on repurchase and reverse repurchase transactions2,689,673.47Interest on swaps

597,494.88Other expenses

21,263,797.98Net income from investmentsNet realised profit / (loss) on:


43,420.00- financial futures-162,914.96- swaps112,804.85- foreign exchange

-15,208,983.90Net realised lossMovement in net unrealised appreciation / (depreciation) on:

46,571,822.48- investments-183,470.00- financial futures364,521.81- swaps

31,543,890.39Increase in net assets as a result of operations-2,964,459.08Dividends paid 6Note


-865,577,216.71Redemption capitalisation shares-34,272,628.61Redemption distribution shares




33Page

Natixis AM Funds- Ostrum Euro Credit


34Page


981,775.99Unrealised profit on the securities portfolio6,831,589.73Cash at banks and liquidities

845,755.50Interest receivable4,560.58Subscriptions receivable2,620.00Net unrealised appreciation on financial futures 2c)Note

6.87Other assets



280,901.68Redemptions payable535,047.08Net unrealised depreciation on swaps 2e), 7, 8Note




Expressed in EUR


Natixis AM Funds - Ostrum Euro Credit





01/07/20

Class SI (EUR) 1,605,073.63 165,373.99 998,695.23 771,752.39

Class I (EUR) 433.32 40.32 276.28 197.36

Class N (EUR) (**) 5,243.99 672.68 456.33 5,460.34

Class R (EUR) - Distribution (***) 4,914.95 0.45 803.40 4,112.00

Class R (EUR) 96,684.69 27,359.70 27,049.16 96,995.23


35Page

Statistics


(*) Closed on 31/07/19.(**) Launched on 31/07/19.(***) Launched on 31/07/19.

Total Net Assets 96,695,058.38 181,185,975.27 195,864,108.24

30/06/1930/06/2030/06/21Year ending as at:

EUR

Class M (EUR) - Distribution (*)

0.00

0.00 0.00

0.00

289.40

53,721.18

Number of shares


Class SI (EUR)

106.34

771,752.39 1,605,073.63

102.34

1,593,000.68

103.63

Number of shares


Class I (EUR)

11,940.09

197.36 433.32

11,526.03

1,242.00

11,698.01

Number of shares


Class N (EUR) (**)

100.45

5,460.34 5,243.99

97.10

0.00

0.00

Number of shares


Class R (EUR) - Distribution (***)

98.96

4,112.00 4,914.95

96.47

0.00

0.00

Number of shares


Class R (EUR)

116.63

96,995.23 96,684.69

113.08

6,077.24

115.36

Number of shares



36Page

ANHEUSER-BUSCH INBEV 2.125 20-27 12/02A1,900,000.00 2,128,627.00 2.20EUR



Belgium 2,128,627.00 2.20

AUCHAN HOLDING SA 2.875 20-26 29/01A1,500,000.00 1,671,615.00 1.73EURFrance 16,922,348.00 17.51

AUCHAN HOLDING SA 3.2500 20-27 23/07A1,000,000.00 1,161,220.00 1.20EUR

COMPAGNIE PLASTIC- 1.25 17-24 26/06A1,000,000.00 1,017,990.00 1.05EUR

ILIAD SA 0.7500 21-24 11/02A1,400,000.00 1,399,342.00 1.45EUR

IMERYS SA 1.0000 21-31 15/07A800,000.00 795,680.00 0.82EUR

RCI BANQUE SA 1.1250 20-27 15/01A1,500,000.00 1,550,955.00 1.60EUR

SEB 1.50 17-24 31/05A800,000.00 828,224.00 0.86EUR



SUEZ 1.2500 20-27 02/04A1,000,000.00 1,061,950.00 1.10EUR

UBISOFT ENTERTA 0.8780 20-27 24/11A1,100,000.00 1,095,864.00 1.13EUR

VEOLIA ENVIRONNEMENT 0.664 20-31 15/01A2,000,000.00 2,024,300.00 2.10EUR

VINCI SA 0.0001 20-28 27/11A1,200,000.00 1,185,624.00 1.23EUR


EATON CAPITAL UNLTD 0.577 21/30 08/03A1,200,000.00 1,201,932.00 1.24EUR

ENI SPA 1.0000 19-34 11/10A1,200,000.00 1,231,716.00 1.27EURItaly 7,933,151.00 8.20


ITALY 0.95 18-23 01/03S500,000.00 511,145.00 0.53EUR

MEDIOBANCA 1.00 20-27 08/09A1,400,000.00 1,443,890.00 1.49EUR

NEXI SPA 1.6250 21-26 30/04S700,000.00 697,333.00 0.72EUR

SNAM SPA 0.75 20-30 17/06A1,900,000.00 1,930,856.00 2.00EUR


TAKEDA PHARMACEUTICAL 0.75 20-27 09/07A1,300,000.00 1,334,710.00 1.38EURJapan 1,334,710.00 1.38

INPOST SA 2.25 21-27 15/07S700,000.00 705,607.00 0.73EURLuxembourg 2,342,193.00 2.42

NESTLE FINANCE INTL 1.75 17-37 02/11A1,400,000.00 1,636,586.00 1.69EUR

NORSK HYDRO ASA 1.125 19-25 11/04A1,000,000.00 1,034,380.00 1.07EURNorway 1,034,380.00 1.07

ABERTIS INFRAESTRUCT 0.625 19-25 15/07A500,000.00 509,675.00 0.53EURSpain 3,568,397.00 3.69

BANCO SANTANDER SA 2.50 15-25 18/03A1,500,000.00 1,624,170.00 1.68EUR

BANKINTER SA 0.8750 19-26 08/07A1,400,000.00 1,434,552.00 1.48EUR

SKF AB 0.2500 21-31 15/02A1,900,000.00 1,828,845.00 1.89EURSweden 1,828,845.00 1.89

ABN AMRO BANK 4.375 20-XX 22/09S1,000,000.00 1,083,320.00 1.12EURThe Netherlands 9,301,064.12 9.62


EDP FINANCE REGS 8.625 08-24 04/01A1,500,000.00 2,085,077.75 2.16GBP

ENEL FINANCE INTL 5.625 09-24 14/08S1,600,000.00 2,143,584.37 2.22GBP

KONINKLIJKE AHOLD DEL 0.375 21-30 18/03A1,400,000.00 1,391,628.00 1.44EUR

TELEFONICA EUROPE BV 2.376 21-99 31/12A1,000,000.00 979,290.00 1.01EUR

WPC EUROBOND BV 0.9500 21-30 01/06A500,000.00 492,435.00 0.51EUR

BP CAPITAL MARKETS 0.831 19-27 08/11A900,000.00 928,845.00 0.96EURUnited Kingdom 4,510,215.00 4.66

EASYJET PLC 0.8750 19-25 11/061,000,000.00 1,003,070.00 1.04EUR

STANDARD CHARTERED 0.9 19-27 02/07A2,500,000.00 2,578,300.00 2.66EUR

AMERICAN TOWER 0.50 20-28 15/01A2,000,000.00 1,984,660.00 2.05EURUnited States of America 15,358,872.00 15.89

AT&T INC 1.6000 20-28 19/05A2,000,000.00 2,146,820.00 2.22EUR

BOSTON SCIENTIF CORP 0.6250 19-27 01/12A2,000,000.00 2,031,640.00 2.10EUR

DIGITAL EURO FINCO 1.125 19-28 09/10A1,300,000.00 1,345,825.00 1.39EUR


JPMORGAN CHASE 0.5970 21-33 17/02A1,100,000.00 1,075,393.00 1.11EUR

NASDAQ INC 1.7500 19-29 28/03A1,000,000.00 1,088,250.00 1.13EUR

PROLOGIS EURO FINANCE 0.25 19-27 10/09A1,300,000.00 1,303,146.00 1.35EUR

WELLS FARGO 1.375 16-26 26/10A2,200,000.00 2,326,918.00 2.41EUR




% of netassets

Market value


37Page

EDF FL.R 18-99 04/10A2,000,000.00 2,144,460.00 2.22EUR


France 8,261,120.00 8.54

LA BANQUE POSTALE FL.R 20-26 17.06A2,000,000.00 2,025,380.00 2.09EUR


UNIBAIL RODAMCO FL.R 18-XX 25/10A1,000,000.00 992,850.00 1.03EUR

ALLIANZ SE FL.R 13-XX 24/10A1,900,000.00 2,096,004.00 2.17EURGermany 2,096,004.00 2.17

BANCO BPM SPA FL.R 20-30 14/09A1,000,000.00 1,095,200.00 1.13EURItaly 1,095,200.00 1.13

BANCO BILBAO VI FL.R 18-XX 24/03Q1,000,000.00 1,081,950.00 1.12EURSpain 3,539,022.00 3.66

BANCO DE SABADELL SA FL.R 20-27 11/03A600,000.00 617,238.00 0.64EUR



HSBC HOLDING FL.R 14-XX 16/09S2,000,000.00 2,095,140.00 2.17EURUnited Kingdom 2,095,140.00 2.17

TRASMISSIONNE ELETTRI 0.375 21-29 23/06A1,200,000.00 1,200,504.00 1.24EUR



Italy 1,200,504.00 1.24

BERKSHIRE HATHAWAY 0.50 21-41 15/01A1,200,000.00 1,076,472.00 1.11EURUnited States of America 1,076,472.00 1.11

BANCO DE SABADELL FL.R 21-28 16/06A800,000.00 788,960.00 0.82EUR

Floating rate notes 788,960.00 0.82

Spain 788,960.00 0.82




France 4,104,911.20 4.25





% of netassets

Market value


38Page



3,076,816.30Income2,681,117.80Net interest on bonds 2i)Note


266,546.43Interest on swaps113,621.64Income on repurchase transactions 2l), 10Note

1,173,583.21Expenses401,291.88Management fees 3Note






36,006.83Expenses on repurchase and reverse repurchase transactions440,540.89Interest on swaps62,138.54Other expenses


3,525,070.51- sales of investment securities 2h)Note

-187,340.00- financial futures-112,652.69- swaps

23.66- foreign exchange

5,128,334.57Net realised profitMovement in net unrealised appreciation / (depreciation) on:

1,331,312.76- investments78,710.00- financial futures

-24,927.89- swaps

6,513,429.44Increase in net assets as a result of operations-2,455.75Dividends paid 6Note

21,165,535.03Subscription capitalisation shares44.56Subscription distribution shares

-112,088,138.14Redemption capitalisation shares-79,332.03Redemption distribution shares




39Page

Natixis AM Funds- Ostrum Euro Inflation


40Page

108,508,373.52Assets100,219,741.00Securities portfolio at market value 2a)Note96,586,810.32Cost price3,632,930.68Unrealised profit on the securities portfolio7,354,615.15Cash at banks and liquidities

466,117.37Interest receivable467,900.00Subscriptions receivable

7,666,503.02Liabilities937,267.85Brokers payable





Expressed in EUR


Natixis AM Funds - Ostrum Euro Inflation





01/07/20

Class I (EUR) 1,155,142.77 753,364.40 183,292.36 1,725,214.81

Class R (EUR) 52,629.84 67,869.78 13,721.36 106,778.26

Class I (EUR) - Distribution (*) 0.00 150,000.00 0.00 150,000.00


41Page

Statistics



Total Net Assets 100,841,870.50 53,128,285.75 56,424,651.77

30/06/1930/06/2030/06/21Year ending as at:

EUR

Class I (EUR)

46.89

1,725,214.81 1,155,142.77

44.08

1,225,081.16

43.92

Number of shares


Class R (EUR)

44.41

106,778.26 52,629.84

41.91

62,447.70

41.91

Number of shares


Class I (EUR) - Distribution (*)

101.27

150,000.00 0.00

0.00

0.00

0.00

Number of shares



42Page

FRANCE 0.10 20-31 25/07A1,200,000.00 1,409,466.70 1.40EUR



France 31,267,881.26 31.01

FRANCE OAT INDEXED 0.25 13-24 25/07A5,140,000.00 5,943,011.10 5.89EUR





FRANCE 0.1 20-26 01/03A740,000.00 805,164.40 0.80EUR

FRANCE 0.10 16-47 25/07A1,475,000.00 1,986,409.08 1.97EUR

FRANCE 0.10 17-36 25/07A1,445,000.00 1,808,327.82 1.79EUR

FRANCE 0.10 19-29 01/03A2,600,000.00 3,010,748.92 2.99EUR

FRANCE 0.70 13-30 25/07A2,255,000.00 2,910,880.64 2.89EUR

BRD INDEXED 0.10 12-23 15/04A2,030,000.00 2,300,827.25 2.28EURGermany 12,383,827.11 12.28

GERMANY 0.10 15-26 15/04A4,800,000.00 5,638,475.67 5.59EUR

GERMANY 0.10 15-46 15/04A1,306,000.00 2,015,455.64 2.00EUR

GERMANY 0.50 14-30 15/04A1,870,000.00 2,429,068.55 2.41EUR

ITALY 0.40 19-30 15/05S1,990,000.00 2,216,058.45 2.20EURItaly 34,262,036.06 33.97

ITALY 1.25 15-32 15/09S4,285,000.00 5,393,240.61 5.35EUR

ITALY 1.30 16-28 15/05S3,650,000.00 4,423,482.26 4.39EUR

ITALY 21-51 15/05S1,155,000.00 1,098,227.73 1.09EUR

ITALY 2.35 04-35 15/09S1,710,000.00 2,949,113.76 2.92EUR

ITALY 2.35 14-24 15/09S2,720,000.00 3,261,917.89 3.23EUR

ITALY 2.55 09-41 15/09S2,105,000.00 3,618,671.29 3.59EUR

ITALY 2.60 07-23 15/09S5,140,000.00 6,824,126.78 6.76EUR

ITALY 3.10 11-26 15/09S3,240,000.00 4,477,197.29 4.44EUR

SPAIN 0.15 17-23 30/11A1,000,000.00 1,095,433.68 1.09EURSpain 14,188,734.23 14.07

SPAIN INDEXED 0.65 17-27 30/11A2,650,000.00 3,189,697.52 3.16EUR

SPAIN 0.7 17-33 30/11A1,800,000.00 2,238,186.09 2.22EUR

SPAIN 1.00 14-30 30/11A2,390,000.00 3,049,288.36 3.02EUR

SPAIN 1.80 13-24 30/11A3,850,000.00 4,616,128.58 4.58EUR

NATIXIS INTERNATIONAL FUNDS (LUX) I SICA36,350.00 6,003,202.50 5.95EUR



Luxembourg 8,117,262.34 8.05

NIFLI GL INFL -DH-I/A(EUR)-CAP26,000.00 2,114,059.84 2.10EUR





% of netassets

Market value


43Page



758,184.18Income1,479.98Net dividends 2i)Note

727,520.45Net interest on bonds 2i)Note

1,438.35Bank interest on cash account115.84Securities lending income, net 2l), 9Note










353,306.84- sales of investment securities 2h)Note

13,214.87- financial futures998.50- foreign exchange

739,825.51Net realised profitMovement in net unrealised appreciation / (depreciation) on:

3,336,217.83- investments-3,820.00- financial futures


37,709,969.36Subscription capitalisation shares15,015,000.00Subscription distribution shares-9,081,687.95Redemption capitalisation shares

47,713,584.75Increase in net assets



44Page

Natixis AM Funds- Ostrum Euro Aggregate


45Page

956,098,844.28Assets869,408,669.32Securities portfolio at market value 2a)Note851,235,925.21Cost price18,172,744.11Unrealised profit on the securities portfolio75,210,532.95Cash at banks and liquidities6,639,558.42Interest receivable3,848,057.56Brokers receivable

490,982.40Subscriptions receivable501,043.63Other assets



165,558.90Redemptions payable496,466.73Net unrealised depreciation on financial futures 2c)Note





Expressed in EUR


Natixis AM Funds - Ostrum Euro Aggregate





01/07/20

Class SI (EUR) 1,628,804.96 612,765.62 422,755.06 1,818,815.52

Class SI (EUR) - Distribution 5,894,761.44 422,911.22 745,116.57 5,572,556.09

Class I (EUR) 621.62 80.66 148.16 554.12


Class N (EUR) 12,275.00 0.00 0.00 12,275.00

Class R (EUR) 52,891.64 2,854.29 16,363.04 39,382.89

Class R (EUR) - Distribution 7,096.67 221.97 1,548.32 5,770.32

Class RE (EUR) - Distribution 10,310.18 0.00 2,289.81 8,020.37

Class RE (EUR) 1,766.24 0.00 489.88 1,276.36


46Page

Statistics


Total Net Assets 895,266,355.79 918,269,138.18 852,215,762.76

30/06/1930/06/2030/06/21Year ending as at:

EUR

Class SI (EUR)

111.25

1,818,815.52 1,628,804.96

109.68

210,385.00

109.02

Number of shares



102.64

5,572,556.09 5,894,761.44

102.50

5,879,939.11

103.48

Number of shares


Class I (EUR)

182,843.02

554.12 621.62

180,517.50

879.75

179,954.24

Number of shares



126,443.02

80.51 89.15

126,139.97

94.15

127,336.86

Number of shares


Class N (EUR)

107.82

12,275.00 12,275.00

106.73

12,275.00

106.55

Number of shares


Class R (EUR)

164.34

39,382.89 52,891.64

161.18

290,672.78

161.37

Number of shares


Class R (EUR) - Distribution

134.82

5,770.32 7,096.67

134.40

6,235.99

135.66

Number of shares


Class RE (EUR) - Distribution

85.75

8,020.37 10,310.18

85.46

13,673.71

86.28

Number of shares


Class RE (EUR)

127.42

1,276.36 1,766.24

127.12

2,034.63

128.05

Number of shares



47Page

AUSTRIA 1.50 16-47 20/02A5,000,000.00 6,134,100.00 0.69EUR



Austria 12,565,150.00 1.40

AUSTRIA 2.40 13-34 23/05A5,000,000.00 6,431,050.00 0.71EUR

ANHEUSER-BUSCH INBEV 1.125 19-27 01/07A1,000,000.00 1,058,040.00 0.12EURBelgium 22,838,890.75 2.55

ANHEUSER-BUSCH INBEV 2.875 20-32 02/04A1,500,000.00 1,825,800.00 0.20EUR

BELFIUS BANQUE SA 3.125 16-26 11/05A2,000,000.00 2,260,460.00 0.25EUR

BELGIUM 1.00 15-31 22/06A2,000,000.00 2,194,500.00 0.25EUR

BELGIUM 1.60 16-47 22/06A8,000,000.00 9,452,960.00 1.05EUR

BELGIUM 4.00 12-32 28/03A825,000.00 1,172,993.25 0.13EUR

BNP PARIBAS FORTIS SA 0.875 18-28 22/03A3,000,000.00 3,201,330.00 0.36EUR

COMMUNAUTE EUROPEENNE BRU 20-35 04/07A1,750,000.00 1,672,807.50 0.19EUR

BANK OF MONTREA 0.0500 21-29 08/06A12,000,000.00 12,006,600.00 1.34EURCanada 15,211,212.00 1.70

ONTARIO TEACHERS FIN 0.05 20-30 25/11S1,200,000.00 1,175,232.00 0.13EUR

TORONTO DOMINION BANK 0.375 19-24 25/04A2,000,000.00 2,029,380.00 0.23EUR

CHILI 3.125 16-26 21/01S2,250,000.00 2,057,083.23 0.23USDChile 2,057,083.23 0.23

CARLSBERG BREWERIES 0.375 20-27 30/06A1,400,000.00 1,416,968.00 0.16EURDenmark 4,573,779.00 0.51

DANSKE BANK A/S 0.875 18-23 22/05A2,000,000.00 2,036,480.00 0.22EUR

ISS GLOBAL A/S 1.50 17-27 31/08A600,000.00 622,266.00 0.07EUR

ORSTED 1.5 21-99 18/02A500,000.00 498,065.00 0.06EUR

FINLAND 2.625 12-42 04/07A10,000,000.00 14,540,100.00 1.62EURFinland 14,540,100.00 1.62

AGENCE FRANCAIS 0.3750 21-36 25/05A1,700,000.00 1,650,938.00 0.18EURFrance 143,613,706.99 16.05

AGENCE FRANCAIS 0.5000 20-30 25/05A3,000,000.00 3,100,200.00 0.35EUR

ALD SA 0.0000 21-24 23/02A1,300,000.00 1,300,520.00 0.15EUR

ALSTOM SA 0.00 21-29 11/01A1,800,000.00 1,752,066.00 0.20EUR

APRR SA 0.125 20-29 18/01A1,000,000.00 998,480.00 0.11EUR

ARKEMA SA 0.75 19-29 03/12A1,600,000.00 1,664,240.00 0.19EUR

AXA SA FL.R 14-XX 08/10A1,000,000.00 1,130,210.00 0.13EUR

BNP PARIBAS 1.00 17-24 29/11A1,500,000.00 1,538,760.00 0.17EUR

BPCE SFH 0.01 20-30 27/05A500,000.00 498,440.00 0.06EUR

BUREAU VERITAS 1.125 19-27 18/01A900,000.00 922,680.00 0.10EUR

CAISSE FRANCAIS 0.0100 21-29 27/04A3,000,000.00 3,015,150.00 0.34EUR

CAPGEMINI SE 1.625 20-26 15/04A800,000.00 858,496.00 0.10EUR

CNP ASSURANCES 2.75 19-29 05/02A900,000.00 1,024,686.00 0.11EUR

COMPAGNIE FIN ET IND 0.75 16-28 09/09A1,000,000.00 1,048,420.00 0.12EUR

CREDIT AGRICOLE 0.8750 18-28 11/08A5,400,000.00 5,779,026.00 0.65EUR

CREDIT MUTUEL ARKEA 0.875 20-27 07/05A1,100,000.00 1,142,900.00 0.13EUR

ENGIE SA 0.0 19-27 04 03A1,300,000.00 1,293,357.00 0.14EUR

ESSILORLUXOTTICA 0.5 19-27 27/11A2,000,000.00 2,057,040.00 0.23EUR

FRANCE 4.50 09-41 25/04A15,000,000.00 26,017,800.00 2.90EUR

FRANCE 0.75 17-28 25/11A20,000,000.00 21,387,200.00 2.38EUR

FRANCE 1.75 17-39 25/06A10,000,000.00 12,140,899.99 1.35EUR

FRANCE 2.50 13-30 25/05A10,400,000.00 12,765,376.00 1.42EUR

GROUPAMA SA 6.00 17-27 23/01A1,000,000.00 1,259,340.00 0.14EUR

HOLDING D'INFRA 1.625 20-29 18/09A1,000,000.00 1,054,950.00 0.12EUR

HSBC SFH 2.00 13-23 16/10A100,000.00 105,635.00 0.01EUR

ICADE SANTE SAS 1.375 20-30 17/09A1,500,000.00 1,577,055.00 0.18EUR

ILIAD SA 0.7500 21-24 11/02A700,000.00 699,671.00 0.08EUR

ILIAD SA 1.875 21-28 11/02A700,000.00 690,207.00 0.08EUR

ILIAD SA 2.375 20-26 17/06A700,000.00 719,670.00 0.08EUR

IMERYS SA 1.0000 21-31 15/07A800,000.00 795,680.00 0.09EUR

INFRA PARK SAS 1.6250 18-28 19/04A1,300,000.00 1,358,656.00 0.15EUR

LEGRAND SA 0.6250 19-28 24/06A1,200,000.00 1,241,916.00 0.14EUR

MERCIALYS SA 4.6250 20-27 07/07A1,500,000.00 1,782,735.00 0.20EUR

ORANGE SA 8.125 03-33 28/01A1,500,000.00 2,750,385.00 0.31EUR

ORPEA SA 2.625 18-25 10/03A1,000,000.00 1,056,260.00 0.12EUR

PERNOD RICARD SA 1.75 20-30 08/04A1,500,000.00 1,688,430.00 0.19EUR




% of netassets

Market value


48Page

RTE EDF TRANSPORT 1.125 19-49 09/09A500,000.00 486,865.00 0.05EUR

SAFRAN SA 0.1250 21-26 16/03A1,800,000.00 1,804,032.00 0.20EUR

SAFRAN SA 0.7500 21-31 17/03A1,300,000.00 1,322,139.00 0.15EUR

SANEF SA 1.875 15-26 16/03A1,000,000.00 1,073,990.00 0.12EUR

SEB 1.50 17-24 31/05A1,200,000.00 1,242,336.00 0.14EUR

SNCF RESEAU 2.00 18-48 05/02A600,000.00 711,156.00 0.08EUR


STE FONCIERE LYONNAISE 1.50 18-25 29/05A2,000,000.00 2,113,660.00 0.24EUR

SUEZ SA 1.25 20-35 14/05A1,000,000.00 1,046,890.00 0.12EUR

THALES 0.25 20-27 29/01A1,600,000.00 1,607,264.00 0.18EUR

UBISOFT ENTERTA 0.8780 20-27 24/11A1,100,000.00 1,095,864.00 0.12EUR

UNION NATIONALE INT 0.00 21-34 25/05A10,200,000.00 9,842,898.00 1.09EUR

BAYERISCHE LAND 0.1250 21-28 10/02A1,000,000.00 989,590.00 0.11EURGermany 25,965,655.00 2.90

BAYERISCHE LAND 1.0000 21-31 23/09A1,000,000.00 999,450.00 0.11EUR

CONTINENTAL AG 0.00 19-23 05/09U800,000.00 801,664.00 0.09EUR

DEUTSCHE TELEKOM AG 0.50 19-27 05/07A1,200,000.00 1,228,236.00 0.14EUR

DEUTSCHE TELEKOM AG 1.375 19-34 05/07A1,000,000.00 1,067,970.00 0.12EUR

GERMANY 0.0000 20-30 15/08A2,000,000.00 2,065,980.00 0.23EUR

INFINEON TECHNO 1.1250 20-26 24/06A600,000.00 627,444.00 0.07EUR

LAND NIEDERSACH 0.0100 21-31 10/01A10,000,000.00 9,966,400.00 1.12EUR

LB BADEN-WUERTT 0.375 20-27 18/02A1,000,000.00 1,014,560.00 0.11EUR

MUNICH RE 6.25 12-42 26/05A1,000,000.00 1,055,690.00 0.12EUR

SAP SE 0.375 20-29 18/05A1,400,000.00 1,424,458.00 0.16EUR

SYMRISE AG 1.3750 20-27 01/07A800,000.00 843,464.00 0.09EUR

VANTAGE TOWERS 0.0000 21-25 31/03A2,100,000.00 2,093,679.00 0.23EUR

VOLKSWAGEN FIN SERV 3.375 20-28 06/04A1,500,000.00 1,787,070.00 0.20EUR

GREECE 0.7500 21-31 18/06A3,000,000.00 2,981,070.00 0.33EURGreece 12,770,150.00 1.43

HELLENIC REPUBLIC 1.875 19-26 23/07A8,000,000.00 8,736,080.00 0.98EUR

HELLENIC REPUBLIC 1.875 21-52 24/01A1,000,000.00 1,053,000.00 0.12EUR

PERUSAHAAN PENE 1.5000 21-26 09/06S8,000,000.00 6,740,399.70 0.75USDIndonesia 6,740,399.70 0.75


IRELAND 0.90 18-28 15/05A6,000,000.00 6,448,680.00 0.73EUR

IRELAND 2.00 15-45 18/02A1,000,000.00 1,283,350.00 0.14EUR

ISRAEL 1.50 17-27 18/01A8,200,000.00 8,867,726.00 0.99EURIsrael 8,867,726.00 0.99

ACEA SPA 0.00 21-25 28/09A1,000,000.00 1,000,280.00 0.11EURItaly 150,614,893.41 16.83

ASSICURAZ GENERALI 2.429 20-31 14/07A500,000.00 539,790.00 0.06EUR

ASSICURAZ GENERALI 4.125 14-26 04/05A1,000,000.00 1,173,670.00 0.13EUR

BUONI POLIENNALI TES 2.45 20-50 01/09S5,000,000.00 5,722,700.00 0.64EUR

CASSA DEPOSITI 1.875 18-26 07/02A1,100,000.00 1,183,809.00 0.13EUR

ENI SPA 3.625 14-29 29/01A1,000,000.00 1,246,570.00 0.14EUR

HERA 5.20 13-28 29/01A800,000.00 1,062,008.00 0.12EUR



ITALGAS SPA 0.2500 20-25 24/06A1,500,000.00 1,509,555.00 0.17EUR

ITALGAS SPA 0.5000 21-33 16/02A600,000.00 574,698.00 0.06EUR

ITALY 0.10 18-23 15/05S10,000,000.00 10,752,987.41 1.20EUR

ITALY 1.25 16-26 01/12S20,000,000.00 21,148,600.00 2.36EUR

ITALY 1.50 15-25 01/06S20,000,000.00 21,228,400.00 2.37EUR

ITALY 1.65 15-32 01/03S15,000,000.00 16,196,850.00 1.81EUR

ITALY 2.00 18-28 01/02S20,000,000.00 22,117,800.00 2.48EUR

ITALY 2.70 16-47 01/03S7,000,000.00 8,400,840.00 0.94EUR

ITALY 5.75 02-33 01/02S2,000,000.00 3,055,720.00 0.34EUR

ITALY BTP 5.00 03-34 01/08S15,000,000.00 22,109,550.00 2.48EUR

MEDIOBANCA 1.00 20-27 08/09A1,500,000.00 1,547,025.00 0.17EUR

UBI BANCA 1.25 14-25 07/02A3,000,000.00 3,175,500.00 0.35EUR

UBI BANCA 0.375 16-26 14/09A800,000.00 824,056.00 0.09EUR


ASAHI GROUP HOL 0.1550 20-24 23/10A1,100,000.00 1,107,535.00 0.12EURJapan 3,890,026.00 0.43

MITSUBISHI UFJ FIN 0.848 19-29 19/07A1,200,000.00 1,241,016.00 0.14EUR




% of netassets

Market value


49Page

MIZUHO FINANCIAL GR 1.0200 18-23 11/10A1,500,000.00 1,541,475.00 0.17EUR

ACEF HOLDING SC 0.7500 21-28 14/06A1,300,000.00 1,297,881.00 0.14EURLuxembourg 15,499,179.50 1.73

CNH INDUSTRIAL 0.00 -24 01/04U1,600,000.00 1,599,776.00 0.18EUR

EFSF 1.80 17-48 10/07A1,200,000.00 1,550,160.00 0.17EUR

ESM 0.75 18-28 05/09A2,000,000.00 2,133,120.00 0.25EUR

EUROPEAN FINANCIAL 0.7 20-50 20/01A2,000,000.00 2,034,000.00 0.23EUR

EUROP.INVEST.BK 1.00 16-32 14/04A1,000,000.00 1,100,980.00 0.12EUR

HOLCIM FINANCE 0.5000 20-31 23/04A1,500,000.00 1,469,160.00 0.16EUR

MEDTRONIC GLOBA 1.6250 20-50 15/10A500,000.00 514,730.00 0.06EUR

PROLOGIS INTL FUND II 1.876 15-25 17/04A1,625,000.00 1,742,682.50 0.19EUR

SELP FINANCE SARL 1.50 19-26 20/12A1,000,000.00 1,053,990.00 0.12EUR

TRATON FINANCE LUX 0.125 21-25 24/03A1,000,000.00 1,002,700.00 0.11EUR

AMERICAN MOVIL 0.75 19-27 26/06A1,000,000.00 1,022,260.00 0.11EURMexico 16,248,400.00 1.81

MEXICO 3.375 16-31 23/02A4,000,000.00 4,658,240.00 0.52EUR

MEXICO 1.625 19-26 08/04A10,000,000.00 10,567,900.00 1.18EUR

MOROCCO 1.50 19-31 27/11A1,000,000.00 941,120.00 0.11EURMorocco 941,120.00 0.11

PERU 3.75 16-30 01/03A3,000,000.00 3,609,660.00 0.40EURPeru 3,609,660.00 0.40

PKO BANK HIPOTECZNY 0.75 17-24 27/08A300,000.00 309,375.00 0.03EURPoland 626,799.00 0.07

POLAND 0.875 15-27 10/05A300,000.00 317,424.00 0.04EUR

BANCO SANTANDER TOTTA 1.25 17-27 26/09A1,600,000.00 1,741,536.00 0.19EURPortugal 48,978,003.01 5.47

ENERGIAS DE PORTUGAL 1.625 20-27 15/04A600,000.00 645,732.00 0.07EUR

GALP ENERGIA 1.00 17-23 15/02A1,000,000.00 1,016,250.00 0.11EUR

OBRIGACOES DO T 0.3000 21-31 17/10A3,600,000.00 3,567,024.00 0.40EUR

PORTUGAL 0.90 20-35 12/10A3,900,000.00 4,005,261.00 0.45EUR

PORTUGAL 1.00 21-52 12/04A1,000,000.00 912,860.00 0.10EUR

PORTUGAL 2.125 18-28 17/10A9,000,000.00 10,413,630.00 1.16EUR

PORTUGAL 2.875 16-26 21/07A10,000,000.00 11,631,400.00 1.31EUR

PORTUGAL 3.875 14-30 15/02A8,000,000.00 10,545,600.01 1.18EUR

PORTUGAL 4.10 06-37 15/04A3,000,000.00 4,498,710.00 0.50EUR

ROMANIA 1.3750 20-29 02/12A1,400,000.00 1,399,062.00 0.16EURRomania 1,399,062.00 0.16

SENEGAL GOVERNEMENT 5.375 21-37 08/06A300,000.00 296,163.00 0.03EURSenegal 296,163.00 0.03

SERBIA 1.65 21-33 03/03A2,500,000.00 2,453,150.00 0.27EURSerbia 2,453,150.00 0.27

SLOVAK (REP OF) 4.375 12-22 21/05S3,500,000.00 3,061,135.00 0.34USDSlovakia 5,587,355.00 0.62

SLOVAKIA 2.00 17-47 17/10A2,000,000.00 2,526,220.00 0.28EUR

REPUBLIKA SLOVE 0.1250 21-31 01/07A1,600,000.00 1,599,328.00 0.18EURSlovenia 3,235,366.00 0.36

SLOVENIA GOVERNMENT 0.4875 20-50 20/10A1,800,000.00 1,636,038.00 0.18EUR

ABERTIS INFRAESTRUCT 1.375 16-26 20/05A1,000,000.00 1,047,800.00 0.12EURSpain 117,341,967.00 13.12

BANCO DE SABADELL SA 0.875 17-23 05/03A1,500,000.00 1,522,530.00 0.17EUR

BANKINTER SA 0.8750 19-26 08/07A1,000,000.00 1,024,680.00 0.11EUR

BBVA 3.875 13-23 30/01A100,000.00 106,877.00 0.01EUR

CELLNEX FINANCE 0.75 21-26 15/11A1,000,000.00 993,190.00 0.11EUR

FERROVIAL EMISIONES0.54 20-28 12/11A1,000,000.00 1,006,620.00 0.11EUR

NORTEGAS ENERGI 0.9050 21-31 22/01A1,000,000.00 988,310.00 0.11EUR

PROSEGUR CIA 1.00 18-23 08/02A1,000,000.00 1,015,520.00 0.11EUR

SPAIN 5.75 01-32 30/07A5,000,000.00 7,838,900.00 0.88EUR

SPAIN 6.00 98-29 31/01A10,000,000.00 14,470,400.00 1.62EUR

SPAIN 1.40 18-28 30/04A20,000,000.00 21,860,000.00 2.44EUR

SPAIN 1.45 17-27 31/10A22,000,000.00 24,076,800.00 2.70EUR

SPAIN 1.95 15-30 30/07A10,000,000.00 11,475,000.00 1.28EUR

SPAIN 1.95 16-26 30/04A7,000,000.00 7,745,990.00 0.87EUR

SPAIN 5.15 13-44 31/10A5,000,000.00 9,039,050.00 1.01EUR

SPAIN 5.90 11-26 30/07A10,000,000.00 13,130,300.00 1.47EUR




% of netassets

Market value


50Page

MOLNLYCKE HLDG 0.875 19-29 05/09A1,500,000.00 1,509,345.00 0.17EURSweden 5,643,322.00 0.63

SCANIA CV AB 0.50 20-23 06/10A800,000.00 809,872.00 0.09EUR

SECURITAS AB 0.25 21-28 22/02A1,000,000.00 983,860.00 0.11EUR

SKF AB 0.2500 21-31 15/02A500,000.00 481,275.00 0.05EUR

TELIA COMPANY AB 2.125 19-34 20/02A1,000,000.00 1,153,510.00 0.13EUR

VOLVO TREASURY 0.125 20-24 17/09A700,000.00 705,460.00 0.08EUR

ABN AMRO BANK 4.375 20-XX 22/09S1,000,000.00 1,083,320.00 0.12EURThe Netherlands 37,354,332.99 4.17

ABN AMRO BANK 7.125 12-22 06/07A2,500,000.00 2,682,575.00 0.30EUR

AIRBUS SE 1.625 20-25 07/04A700,000.00 742,294.00 0.08EUR

BMW FINANCE NV 0.0000 21-26 11/01A1,200,000.00 1,202,076.00 0.13EUR

CONTI-GUMMI FINANCE 2.1250 20-23 27/11A700,000.00 735,602.00 0.08EUR

DAIMLER INTL FI 0.2500 19-23 06/11A1,800,000.00 1,816,452.00 0.20EUR



ENEL FIN INTL 0.00 19-24 17/06A1,000,000.00 1,006,480.00 0.11EUR

HEINEKEN NV 1.00 16-26 04/05A1,000,000.00 1,048,460.00 0.12EUR

HEINEKEN NV 1.25 20-33 07/05A1,000,000.00 1,052,360.00 0.12EUR

ING GROUP NV 0.25 21-30 01/02A1,300,000.00 1,264,341.00 0.14EUR

LEASEPLAN CORPORATION 0.1250 19-23 13/01,500,000.00 1,508,940.00 0.17EUR

NETHERLANDS 4.00 05-37 15/01A5,000,000.00 8,022,699.99 0.91EUR

NETHERLANDS 0.25 19-29 14/02A2,000,000.00 2,082,740.00 0.23EUR

RELX FINANCE BV 1.375 16-26 12/05A1,100,000.00 1,169,751.00 0.13EUR

SIEMENS FINANCIERING 0.1250 19-29 05/09A700,000.00 699,608.00 0.08EUR

SIGNIFY NV 2.3750 20-27 11/05A2,000,000.00 2,218,480.00 0.25EUR

STELLANTIS 4.50 20-28 07/07A1,000,000.00 1,248,630.00 0.14EUR

TENNET HOLD 0.125 21-27 09/12U1,000,000.00 1,001,040.00 0.11EUR

TENNET HOLDING BV 0.50 20-40 30/11A1,000,000.00 909,880.00 0.10EUR

VW INTL FINANCE 4.125 18-38 16/11A800,000.00 1,118,616.00 0.12EUR

WABTEC TRAN 1.2500 21-27 03/12U900,000.00 908,298.00 0.10EUR

WPC EUROBOND BV 2.25 17-24 19/07A1,200,000.00 1,277,700.00 0.14EUR

BANQUE OUEST AFRICAINE 2.75 21-33 22/01A600,000.00 628,536.00 0.07EURTogo 628,536.00 0.07

EMIRATE OF ABU DHABI 2.50 20-25 16/04S5,000,000.00 4,484,484.35 0.50USDUnited Arab Emirates 4,484,484.35 0.50

ASTRAZENECA 0.875 14-21 24/11A200,000.00 201,054.00 0.02EURUnited Kingdom 7,673,854.00 0.86

BP CAPITAL MARK FL.R 20-XX 22/06A1,000,000.00 1,070,090.00 0.12EUR

COCA-COLA EUROPEAN 1.125 19-29 12/04A1,000,000.00 1,051,530.00 0.12EUR

MONDI FINANCE 1.50 16-24 15/04A1,000,000.00 1,039,280.00 0.12EUR

MOTABILITY OPERATION 0.125 21-28 20/07S900,000.00 893,763.00 0.10EUR

NOMAD FOODS BON 2.5000 21-28 24/06S600,000.00 606,714.00 0.07EUR

STANDARD CHARTERED 1.2000 21-31 23/09A1,500,000.00 1,504,650.00 0.16EUR

YORKSHIRE BUILD 0.5000 21-28 01/07A1,300,000.00 1,306,773.00 0.15EUR

AMERICAN TOWER 0.50 20-28 15/01A1,300,000.00 1,290,029.00 0.14EURUnited States of America 7,463,877.00 0.83

COCA COLA CO 0.80 20-40 15/03A500,000.00 477,415.00 0.05EUR



IBM CORP 0.65 20-32 11/02A1,000,000.00 998,380.00 0.11EUR

MARSH MCLENNAN COS 1.349 19-26 21/09A1,000,000.00 1,058,040.00 0.12EUR

WELLS FARGO 0.50 19-24 26/04A1,000,000.00 1,016,140.00 0.11EUR

NORDEA BANK FL.R 16-26 07/09A800,000.00 801,648.00 0.09EUR


Finland 801,648.00 0.09

BNP PARIBAS FL.R 18-30 20/11A1,500,000.00 1,613,370.00 0.18EURFrance 15,362,620.00 1.71

CREDIT AGRICOLE FL.R 20-30 05/06A1,100,000.00 1,143,615.00 0.13EUR

CREDIT AGRICOLE FL.R 15-XX 13/01A600,000.00 667,902.00 0.07EUR

CREDIT AGRICOLE FL.R 20-49 31/12Q1,000,000.00 1,094,350.00 0.12EUR

CREDIT MUTUEL ARKEA FL.R 17-29 25/10A1,300,000.00 1,358,383.00 0.15EUR

EDF FL.R 18-99 04/10A1,500,000.00 1,608,345.00 0.18EUR

LA BANQUE POSTALE FL.R 15-27 19/11A1,200,000.00 1,245,756.00 0.14EUR

ORANGE SA FL.R 14-XX 01/10A1,000,000.00 1,195,810.00 0.13EUR




% of netassets

Market value


51Page

TOTALENE FL.R 19-XX 04/04A1,600,000.00 1,641,664.00 0.18EUR


UNIBAIL RODAMCO FL.R 18-XX 25/10A700,000.00 694,995.00 0.08EUR

ALLIANZ SE FL.R 13-XX 24/10A1,000,000.00 1,103,160.00 0.12EURGermany 7,459,735.00 0.83

ALLIANZ SE FL.R 20-49 31/12A600,000.00 606,474.00 0.07EUR

COMMERZBANK AG FL.R 20-26 24/03A800,000.00 815,152.00 0.09EUR

DEUTSCHE BANK AG 1.00 -25 19/11A2,600,000.00 2,655,406.00 0.29EUR

HANNOVER RUECK SE FL.R 20-40 08/10A500,000.00 525,500.00 0.06EUR

MERCK KGAA FL.R 20-80 09/09A1,700,000.00 1,754,043.00 0.20EUR

ENEL SPA FL.R 19-80 24/05A1,000,000.00 1,094,940.00 0.12EURItaly 3,099,623.00 0.35

ENI SPA FL.R 20-49 31/12A1,400,000.00 1,472,618.00 0.17EUR

ENI SPA FL.R 20-49 31/12A500,000.00 532,065.00 0.06EUR

TALANX FINANZ EMTN FL.R 12-42 15/06A2,000,000.00 2,161,080.00 0.24EURLuxembourg 2,161,080.00 0.24

BANCO BILBAO VIZCAYA FL.R 20-30 16/01A1,500,000.00 1,509,450.00 0.17EURSpain 4,824,737.00 0.54


BANCO SANTANDER SA FL.R 17-XX XX/XXQ500,000.00 477,595.00 0.05EUR


SWEDBANK AB FL.R 17-27 22/11A1,000,000.00 1,012,360.00 0.11EURSweden 1,823,584.00 0.20

TELIA COMPANY AB FL.R 20-81 11/05A800,000.00 811,224.00 0.09EUR


ARGENTUM NETHLD FL.R 15-XX 16/06A1,000,000.00 1,132,110.00 0.13EURThe Netherlands 6,779,577.00 0.76

COOPERATIVE RABOBANK FL.R 18-XX 29/06S1,000,000.00 1,100,530.00 0.12EUR

IBERDROLA INTL BV FL.R 17-XX 22/02A1,500,000.00 1,541,235.00 0.17EUR

ING GROUP NV FL.R 20-31 26/05A1,000,000.00 1,064,030.00 0.12EUR

NATURGY FINANCE BV FL.R 14-XX 30/11A1,000,000.00 1,051,720.00 0.12EUR

VOLKSWAGEN INTL FIN FL.R 20-XX 17/06A800,000.00 889,952.00 0.10EUR

HSBC HOLDING FL.R 14-XX 16/09S1,500,000.00 1,571,355.00 0.18EURUnited Kingdom 4,622,265.00 0.52

HSBC HOLDINGS PLC 0.309 20-26 13/11A1,500,000.00 1,506,015.00 0.17EUR

VODAFONE GROUP 3.0 20-80 27/08A1,500,000.00 1,544,895.00 0.17EUR

CITIGROUP INC FL.R 19-27 08/10A1,000,000.00 1,008,750.00 0.11EURUnited States of America 6,198,774.00 0.69

GOLDMAN SACHS GROUP FL.R 21-24 30/04A1,300,000.00 1,300,936.00 0.15EUR

JPMORGAN CHASE & CO FL.R 17-28 18/05A1,100,000.00 1,183,842.00 0.13EUR

MORGAN STANLEY FL.R 19-24 26/07A1,600,000.00 1,625,936.00 0.18EUR

WELLS FARGO FL.R 20-30 04/05A1,000,000.00 1,079,310.00 0.12EUR

APT PIPELINES LTD 1.25 21-33 15/03A500,000.00 497,565.00 0.06EUR



Australia 1,490,185.00 0.17

APT PIPELINES LTD 0.75 21-29 15/03A1,000,000.00 992,620.00 0.11EUR

UPM-KYMMENE OYJ 0.1250 20-28 19/11A1,100,000.00 1,082,928.00 0.12EURFinland 1,082,928.00 0.12

CADES 0.00 21-29 25/05A3,600,000.00 3,603,456.00 0.41EURFrance 5,370,991.00 0.61

CARREFOUR BANQUE 0.107 21-25 14/06A700,000.00 701,435.00 0.08EUR

TELEPERFORMANCE SE 1.875 18-25 02/07A1,000,000.00 1,066,100.00 0.12EUR

GREECE 21-26 12/02A3,400,000.00 3,394,968.00 0.38EURGreece 3,394,968.00 0.38

INDONESIA GOVERNMENT 1.85 21-31 12/03S2,000,000.00 1,652,854.38 0.18USDIndonesia 1,652,854.38 0.18

EUROPEAN UNION 0.00 21-28 02/06A2,600,000.00 2,640,092.00 0.29EURLuxembourg 3,941,418.00 0.44

TRATON FINANCE LUX 0 21-24 14/06A1,300,000.00 1,301,326.00 0.15EUR

CPT NV 0.5 21-25 21/06A1,300,000.00 1,295,424.00 0.14EURThe Netherlands 1,295,424.00 0.14




% of netassets

Market value


52Page

SSE PLC 0.875 17-25 06/09A1,500,000.00 1,552,560.00 0.17EURUnited Kingdom 1,552,560.00 0.17

BANKINTER SA FL.R 21-32 23/12A700,000.00 701,911.00 0.08EUR


Spain 701,911.00 0.08

LBPAM CONVERTIBLES EUR -I-400.00 6,377,380.00 0.71EUR



France 43,639,406.20 4.88


OSTRUM GLOBAL SUBORD FCP EUR 4 DEC1,500.00 19,020,975.00 2.13EUR

OSTRUM SUSTAINABLE TRESORERIE I-CAP600.00 7,428,192.00 0.83EUR

ISHARES JPM USD EM BOND EUR HEDGE100,909.00 9,141,336.22 1.02EURIreland 9,141,336.22 1.02

NIFLI SH.TERM GLB HIGH INCOME H-IC EURO10,000.00 1,151,900.00 0.13EURLuxembourg 28,416,961.59 3.17

OSTRUM EURO INFLATION I A EUR CAP120,000.00 5,626,800.00 0.63EUR

OSTRUM GLOBAL EMERGING BDS I A HEUR CAP100.00 19,232,742.00 2.14EUR

OSTRUM MULTI ASSET GLB INC I A H EUR CAP24,000.00 2,405,519.59 0.27EUR





% of netassets

Market value


53Page





1,082,684.23Bank interest on cash account61,727.59Securities lending income, net 2l), 9Note

263,015.76Interest on swaps869,142.43Income on repurchase transactions 2l), 10Note










-660,460.75- financial futures-671,311.29- swaps-342,554.59- foreign exchange


-5,896,265.56- investments123,210.57- financial futures

-214,283.52- swaps







54Page

Natixis AM Funds- Ostrum Global Aggregate


55Page


269,977.62Interest receivable506,999.17Brokers receivable

2,028,934.30Subscriptions receivable517,492.88Net unrealised appreciation on financial futures 2c)Note


4,090,475.47Liabilities1,032,684.45Bank overdrafts

604,494.97Payable for repurchase transactions 2l), 10Note

2,028,934.30Redemptions payable328,645.14Net unrealised depreciation on forward foreign exchange contracts 2b)Note


21,294.93Accrued expenses823.54Other liabilities



Expressed in USD


Natixis AM Funds - Ostrum Global Aggregate





01/07/20

Class SI (USD) 1.00 0.00 0.00 1.00

Class I (H-EUR) 446.00 147.00 219.00 374.00


56Page

Statistics


Total Net Assets 47,636,634.15 53,686,726.61 58,896,592.30

30/06/1930/06/2030/06/21Year ending as at:

USD

Class SI (USD)

122,886.45

1.00 1.00

121,312.48

1.00

113,637.96

Number of shares

Net asset value per share USD

Class I (H-EUR)

107,127.16

374.00 446.00

106,933.02

501.00

103,030.59

Number of shares



57Page

ARGENTINA 0.125 20-30 09/07S194,000.00 80,198.22 0.16EUR



Argentina 82,992.81 0.17

ARGENTINE REPUBLIC 0.50 20-29 09/07S6,298.00 2,794.59 0.01EUR

AUSTRALIA 2.75 18-41 10/07S1,000,000.00 827,243.42 1.74AUDAustralia 827,243.42 1.74

ONTARIO (PROVINCE 4.60 08-39 02/06S500,000.00 530,271.33 1.11CADCanada 530,271.33 1.11

BANK OF CHINA 5.00 14-24 13/11S500,000.00 558,395.00 1.17USDChina 558,395.00 1.17

DOMINICAN REPUBLIC 6.60 13-24 28/01S200,000.00 221,988.00 0.47USDDominican Republic 221,988.00 0.47

EGYPT 5.875 15-25 11/06S400,000.00 427,928.00 0.90USDEgypt 427,928.00 0.90

BPCE 4.625 13-23 18/07A200,000.00 260,034.66 0.55EURFrance 989,844.64 2.08

ILIAD SA 2.125 15-22 05/12A200,000.00 242,687.32 0.51EUR

PERNOD RICARD SA 1.875 15-23 28/09A200,000.00 247,338.42 0.52EUR

VEOLIA ENVIRONN. 0.314 16-23 04/10A200,000.00 239,784.24 0.50EUR

CONTINENTAL AG 2.50 20-26 27/08A300,000.00 395,199.99 0.83EURGermany 520,664.66 1.09

FRESENIUS MEDICAL CARE 1.50 18-25 11/07A100,000.00 125,464.67 0.26EUR

GREECE 3.50 17-23 30/01A400,000.00 503,499.94 1.06EURGreece 503,499.94 1.06

EXP IMP BANK INDI REGS 3.37516-25 05/08S200,000.00 213,792.00 0.45USDIndia 486,537.00 1.02

RELIANCE INDUSTRIES 4.125 15-25 28/01S250,000.00 272,745.00 0.57USD

INDONESIA 4.35 16-27 08/01S200,000.00 226,762.00 0.48USDIndonesia 226,762.00 0.48

AIB GROUP PLC 1.25 19-24 28/05A300,000.00 368,908.58 0.78EURIreland 489,097.58 1.03

GE CAPITAL INTL 4.418 16-35 15/11S100,000.00 120,189.00 0.25USD

ITALY 1.65 15-32 01/03S300,000.00 384,156.89 0.81EURItaly 1,518,080.09 3.19

ITALY 2.70 16-47 01/03S300,000.00 426,966.70 0.90EUR

ITALY 3.00 19-29 01/02S500,000.00 706,956.50 1.48EUR

DEV BK OF JAPAN 2.875 14-24 19/09S1,000,000.00 1,068,280.00 2.24USDJapan 2,988,519.53 6.26

JAPAN 2.40 07-37 20/03S100,000,000.00 1,193,107.41 2.49JPY

JAPAN -138- 1.50 12-32 20/06S70,000,000.00 727,132.12 1.53JPY

SELP FINANCE SARL 1.50 19-26 20/12A500,000.00 624,963.37 1.31EURLuxembourg 624,963.37 1.31

MEXICAN BONOS 7.75 11-31 29/05S60,000.00 317,856.57 0.67MXNMexico 512,386.57 1.08

PETROLEOS MEXICANOS 5.95 20-31 28/01S200,000.00 194,530.00 0.41USD

KAZMUNAYGAS 4.75 17-27 19/04S300,000.00 343,386.00 0.72USDMicronesian Islands 343,386.00 0.72

MOROCCO 2.375 20-27 15/12S300,000.00 295,086.00 0.62USDMorocco 295,086.00 0.62

NEW ZEALAND 5.50 11-23 15/04S1,500,000.00 1,141,151.43 2.40NZDNew Zealand 1,141,151.43 2.40

EQUINOR ASA 2.45 12-23 17/01S800,000.00 825,808.00 1.73USDNorway 2,374,926.55 4.98

EQUINOR ASA 2.875 20-25 06/04S300,000.00 320,628.00 0.67USD

NORWAY 3.00 14-24 14/03A10,000,000.00 1,228,490.55 2.58NOK

OMAN 5.375 17-27 08/03S200,000.00 210,912.00 0.44USDOman 210,912.00 0.44

ASIAN DEV BANK 2.375 17-27 10/08S600,000.00 644,448.00 1.35USDPhilippines 644,448.00 1.35

PORTUGAL 1.95 19-29 15/06A900,000.00 1,226,670.05 2.57EURPortugal 1,582,338.06 3.32

Securities portfolio as at 30/06/21USDExpressed in



% of netassets

Market value


58Page

PORTUGAL 4.10 06-37 15/04A200,000.00 355,668.01 0.75EUR

ROMANIA 1.3750 20-29 02/12A200,000.00 237,021.09 0.50EURRomania 237,021.09 0.50

RUSSIA 5.625 12-42 04/04S200,000.00 257,038.00 0.54USDRussia 257,038.00 0.54

ARABIE SAOUDITE 4 18-25 17/04S500,000.00 552,860.00 1.16USDSaudi Arabia 848,216.00 1.78

SAUDI ARABIAN OIL COM 2.25 20-30 24/11S300,000.00 295,356.00 0.62USD

SOUTH AFRICA 4.875 16-26 14/04S200,000.00 217,320.00 0.46USDSouth Africa 217,320.00 0.46

IBERDROLA FIN 1.25 18-26 28/10A200,000.00 252,646.51 0.53EURSpain 840,944.22 1.77

SPAIN 4.70 09-41 30/07A300,000.00 588,297.71 1.24EUR

VOLVO TREASURY 0.1000 19-22 24/05A200,000.00 238,185.65 0.50EURSweden 238,185.65 0.50

BMW FINANCE NV 0.375 18-23 10/07A200,000.00 240,386.67 0.50EURThe Netherlands 560,045.67 1.18

SHELL INTL FIN 2.50 16-26 12/09S300,000.00 319,659.00 0.68USD

ABU DHABI GOVERNMENT 1.7 20-31 02/03S300,000.00 289,575.00 0.61USDUnited Arab Emirates 289,575.00 0.61

ASTRAZENECA 3.375 15-25 16/11S200,000.00 219,120.00 0.46USDUnited Kingdom 1,070,073.43 2.25

BAE SYSTEMS PLC 1.9000 20-31 15/02S200,000.00 193,298.00 0.41USD

UNITED KINGDOM 1.50 16-47 22/07S450,000.00 657,655.43 1.38GBP

ABBVIE 3.60 15-25 14/05S200,000.00 218,390.00 0.46USDUnited States of America 11,089,301.00 23.27

AMGEN 2.25 16-23 19/08S200,000.00 207,180.00 0.43USD

ANHEUSER-BUSCH INBEV 4.90 19-46 01/02S100,000.00 126,595.00 0.27USD

AT&T INC 3.8 20-57 01/12S117,000.00 122,393.70 0.26USD

AUTOZONE INC 3.6250 20-25 15/04S300,000.00 328,260.00 0.69USD

AVANGRID INC 3.20 20-25 15/04S400,000.00 430,192.00 0.90USD

BAKER HUGHES 3.337 17-27 15/12S200,000.00 218,890.00 0.46USD

BECTON DICKINSON 3.70 17-37 06/06S196,000.00 217,938.28 0.46USD

BERKSHIRE HATHAWAY 4.25 19-49 15/01S100,000.00 124,408.00 0.26USD

BMW US CAPITAL LLC 3.9 20-25 09/04S300,000.00 331,119.00 0.70USD

BOEING CO 2.8000 19-24 01/03S300,000.00 313,377.00 0.66USD

BRISTOL MYERS 3.20 20-26 15/06S200,000.00 219,626.00 0.46USD

CVS HEALTH CORP 4.30 18-28 25/03S113,000.00 129,877.68 0.27USD

DELL INTERNATIONAL LLC 6.02 21-26 15/06S100,000.00 120,061.00 0.25USD

ESTEE LAUDER CO INC 2.6000 20-30 15/04S200,000.00 211,670.00 0.44USD

FANNIE MAE 6.25 99-29 15/05S500,000.00 681,615.00 1.43USD

FIDELITY NATIONAL INF 2.95 19-39 21/05A100,000.00 145,104.36 0.30EUR

HARLEY-DAVIDSON FIN 3.875 20-23 19/05A100,000.00 127,235.21 0.27EUR

HUMANA INC 4.5 20-25 01/04S300,000.00 336,093.00 0.71USD

INTER-AMERICAN DEV 4.375 14-44 24/01S300,000.00 412,512.00 0.87USD

JPMORGAN CHASE & CO 4.125 14-26 15/12S200,000.00 226,496.00 0.48USD

KINDER MORGAN INC 3.15 17-23 15/01S300,000.00 311,607.00 0.65USD

KROGER 2.2 20-30 01/05S500,000.00 503,650.00 1.06USD

ORACLE 3.90 15-35 15/05S200,000.00 223,922.00 0.47USD

PARKER HANNIFIN CORP 2.70 19-24 14/06S200,000.00 210,982.00 0.44USD

PFIZER INC 5.95 07-37 01/04S200,000.00 287,502.00 0.60USD

THERMO FISHER SCIEN 1.95 17-29 24/07A100,000.00 132,099.77 0.28EUR

UNITED STATES 0.125 20-30 15/07S500,000.00 574,858.67 1.21USD


UNITED STATES 2.875 16-46 15/11S1,500,000.00 1,740,703.13 3.64USD


VERIZON COMMUNICATION 3.875 19-29 08/02S100,000.00 113,848.00 0.24USD

VF CORP 2.4 20-25 23/04S300,000.00 314,787.00 0.66USD

VISA INC 4.30 15-45 14/12S100,000.00 128,688.00 0.27USD

WELLS FARGO 3.45 13-23 13/02S200,000.00 209,678.00 0.44USD

KBC GROUP NV FL.R 19-29 03/12A500,000.00 593,631.90 1.25EUR


Belgium 1,071,170.12 2.25

KBC GROUPE SA FL.R 17-22 24/11Q400,000.00 477,538.22 1.00EUR




% of netassets

Market value


59Page

CNP ASSURANCES 2.5 20-51 30/06A600,000.00 762,415.11 1.60EURFrance 762,415.11 1.60

ALLIANZ SE FL.R 20-50 08/07A300,000.00 381,819.48 0.80EURGermany 381,819.48 0.80

NAMIBIA (REP OF) REGS 5.25 15-25 29/10S300,000.00 323,754.00 0.68USDNamibia 323,754.00 0.68

BANK OF AMERICA CORP FL.R 18-28 20/12S200,000.00 218,188.00 0.46USDUnited States of America 1,047,792.00 2.20


MORGAN STANLEY FL.R 20-26 28/04S400,000.00 415,716.00 0.87USD

GREECE 21-26 12/02A900,000.00 1,065,730.38 2.24EUR



Greece 1,065,730.38 2.24

OSTRUM GLOBAL SUBORD FCP EUR 4 DEC20.00 300,759.66 0.63EUR



France 300,759.66 0.63

ISHARES IV PLC - ISHARES CHINA CNY BOND50,000.00 247,960.00 0.52USDIreland 296,245.00 0.62

ISHS MRT BCK USD ETF10,000.00 48,285.00 0.10USD

DNCA GLOBAL CONVERT BDS I A USD CAP5,000.00 737,500.00 1.55USDLuxembourg 3,791,236.30 7.96

OSTRUM GLOBAL EMERGING BDS I A USD CAP18.00 2,943,411.30 6.17USD

OSTRUM MULTI ASSET GBL INC SI A USD DIS500.00 55,520.00 0.12USD

OSTRUM MULTI ASSET GLB INC I A USD CAP500.00 54,805.00 0.12USD





% of netassets

Market value


60Page

Statement of Operations and Changes in Net Assets from 01/07/20 to 30/06/21Expressed in USD





2,308.61Interest on swaps41,278.51Other income6,575.66Income on repurchase transactions 2l), 10Note









-133,564.84- sales of investment securities 2h)Note

1,875.00- options3,200,619.47- forward foreign exchange contracts

-1,856,495.66- financial futures5,901.13- swaps

775,078.31- foreign exchange


444,945.67- investments-365,178.36- forward foreign exchange contracts491,581.28- financial futures

-176,019.64- swaps

3,188,072.19Increase in net assets as a result of operations19,178,536.70Subscription capitalisation shares





61Page

Natixis AM Funds- Ostrum Credit Opportunities


62Page


292,327.20Unrealised profit on the securities portfolio135,267.54Cash at banks and liquidities130,680.62Interest receivable14,959.35Net unrealised appreciation on swaps 2e), 7, 8Note


229,505.00Liabilities44.82Bank overdrafts

100,020.00Brokers payable90,837.92Accrued performance fees payable 4Note

15,691.23Net unrealised depreciation on forward foreign exchange contracts 2b)Note

16,080.00Net unrealised depreciation on financial futures 2c)Note




Expressed in EUR


Natixis AM Funds - Ostrum Credit Opportunities





01/07/20

Class SI (EUR) 176,083.00 18,840.00 37,489.00 157,434.00

Class I (EUR) 81.88 24.00 74.03 31.85

Class R (EUR) 3,183.95 0.00 1,733.00 1,450.95

Class RE (EUR) (*) 561.03 0.00 561.03 0.00

Class RE (H-USD) 5,406.00 0.00 366.00 5,040.00


63Page

Statistics


(*) Closed on 22/06/21.

Total Net Assets 19,564,814.43 23,411,962.25 53,226,381.26

30/06/1930/06/2030/06/21Year ending as at:

EUR

Class SI (EUR)

108.14

157,434.00 176,083.00

101.72

353,429.26

103.26

Number of shares


Class I (EUR)

60,047.72

31.85 81.88

56,524.32

269.66

57,493.29

Number of shares


Class R (EUR)

102.78

1,450.95 3,183.95

96.88

3,433.65

98.97

Number of shares


Class RE (EUR) (*)

0.00

0.00 561.03

95.54

642.65

97.90

Number of shares


Class RE (H-USD)

112.27

5,040.00 5,406.00

105.91

8,870.00

105.75

Number of shares



64Page

AUST & NZ BANKI 0.6690 21-31 05/05A200,000.00 199,442.00 1.02EUR



Australia 199,442.00 1.02

ONTARIO TEACHERS FIN 0.05 20-30 25/11S200,000.00 195,872.00 1.00EURCanada 195,872.00 1.00

SBB TREASURY OY 0.7500 20-28 14/12A200,000.00 196,156.00 1.00EURFinland 196,156.00 1.00

CAB 3.3750 21-28 01/02S100,000.00 99,765.00 0.51EURFrance 4,094,987.63 20.93

CHROME HOLDCO SAS 3.500 21-28 31/05S100,000.00 101,667.00 0.52EUR

CNP ASSURANCES 0.375 20-28 08/03A200,000.00 195,992.00 1.00EUR

COMPAGNIE PLASTIC- 1.25 17-24 26/06A400,000.00 407,196.00 2.08EUR

CROWN EURO HOLDINGS 0.75 19-23 15/02S200,000.00 200,772.00 1.03EUR

ELIS SA 1.875 18-23 15/02A200,000.00 204,126.00 1.04EUR

FAURECIA 3.1250 19-26 15/06S300,000.00 310,752.00 1.59EUR

FRANCE 6.00 94-25 25/10A350,000.00 449,827.00 2.31EUR

INFRA FOCH SAS 2.125 14-25 16/04A400,000.00 426,684.00 2.18EUR

LA POSTE 5.3 16-43 01/12S200,000.00 180,109.63 0.92USD

LOXAM SAS 3.25 19-25 14/01S200,000.00 202,086.00 1.03EUR

MOBILUX FINANCE 4.2500 21-28 15/07S100,000.00 100,194.00 0.51EUR

ORANO SA 3.125 14-23 20/03A200,000.00 208,774.00 1.07EUR

PAPREC HOLDING 3.5000 21-28 01/07S100,000.00 99,844.00 0.51EUR

RCI BANQUE SA 0.50 16-23 15/09A300,000.00 303,222.00 1.55EUR

REXEL SA 2.125 21-28 15/06S100,000.00 102,313.00 0.52EUR

THALES SA 0.00 20-26 26/03A300,000.00 299,214.00 1.53EUR

VERALLIA SA 1.6250 21-28 14/05A200,000.00 202,450.00 1.03EUR

CT INVESTMENT 5.50 21-26 15/04S100,000.00 102,655.00 0.52EURGermany 306,723.00 1.57

GRUENENTHAL GMBH 4.125 21-28 15/05S100,000.00 103,381.00 0.54EUR

ZF FINANCE GMBH 2.0000 21-27 06/05A100,000.00 100,687.00 0.51EUR

BANK OF IRELAND GRP 10.00 12-22 19/12A300,000.00 343,215.00 1.75EURIreland 646,326.00 3.30

FCA BANK SPA 0.625 19-22 24/11A300,000.00 303,111.00 1.55EUR

ENEL SPA 1.375 21-99 31/12A300,000.00 296,841.00 1.52EURItaly 1,780,130.50 9.10

INTESA SANPAOLO 0.6250 21-26 24/02A500,000.00 499,710.00 2.55EUR

INTESA SANPAOLO 0.75 19-24 04/12A200,000.00 205,194.00 1.05EUR

MEDIOBANCA 1.1250 19-25 15/07A300,000.00 311,085.00 1.59EUR

MEDIOBANCA 1.1250 20-25 23/04A250,000.00 257,732.50 1.32EUR

TELECOM ITALIA EMTN 3.25 15-23 16/01A200,000.00 209,568.00 1.07EUR

NISSAN MOTOR CO 1.94 20-23 15/09A100,000.00 104,207.00 0.53EURJapan 104,207.00 0.53

ADLER GROUP SA 2.25 21-27 27/04A200,000.00 197,492.00 1.01EURLuxembourg 299,971.00 1.53

BK LC LUX FINCO1 5.25 21-29 30/04S100,000.00 102,479.00 0.52EUR

SANTANDER CONS FIN 0.1250 20-25 25/02A300,000.00 300,612.00 1.54EURNorway 300,612.00 1.54

DBS GROUP 1.5000 18-28 11/04A300,000.00 308,238.00 1.58EURSingapore 308,238.00 1.58

CELLNEX TELECOM SA 2.375 16-24 16/01A200,000.00 210,124.00 1.07EURSpain 413,150.00 2.11

KUTXABANK SA 0.50 19-24 25/09A200,000.00 203,026.00 1.04EUR

VOLVO CAR AB 2.125 19-24 02/04A300,000.00 313,875.00 1.60EURSweden 313,875.00 1.60

DUFRY ONE BV 2.50 17-24 15/10S100,000.00 99,699.00 0.51EURThe Netherlands 827,076.00 4.23

LKQ EURO HOLDINGS BV 4.125 18-28 01/04S200,000.00 215,048.00 1.10EUR

RABOBANK FL.R 19-XX 29/06S200,000.00 207,352.00 1.06EUR

ZF EUROPE FINANCE 1.250 16-23 23/10A300,000.00 304,977.00 1.56EUR

BARCLAYS PLC 1.1250 21-31 22/03A200,000.00 201,194.00 1.03EURUnited Kingdom 617,450.00 3.16

BP CAPITAL MARK FL.R 20-XX 22/06A200,000.00 214,018.00 1.10EUR




% of netassets

Market value


65Page

NOMAD FOODS BON 2.5000 21-28 24/06S200,000.00 202,238.00 1.03EUR

ANZ BANKING GRP FL.R 19-29 21/11A200,000.00 204,480.00 1.05EUR


Australia 204,480.00 1.05

BELFIUS BANQUE SA/NV FL.R 18-28 15/03A400,000.00 408,188.00 2.08EURBelgium 708,533.00 3.62

KBC GROUP NV FL.R 19-29 03/12A300,000.00 300,345.00 1.54EUR

ORSTED FL.R 19-XX 09/12A200,000.00 205,572.00 1.05EURDenmark 205,572.00 1.05

AXA SA FL.R 21-41 07/10A300,000.00 300,027.00 1.53EURFrance 1,203,957.00 6.15

EDF FL.R 20-XX 15/03A200,000.00 206,690.00 1.06EUR

LA BANQUE POSTALE FL.R 21-32 02/08A300,000.00 295,182.00 1.51EUR

RCI BANQUE SA FL.R 19-30 18/02A200,000.00 201,658.00 1.03EUR

TOTAL SE FL.R 21-XX 25/01A200,000.00 200,400.00 1.02EUR

ALLIANZ SE FL.R 20-49 31/12A200,000.00 202,158.00 1.03EURGermany 202,158.00 1.03

ENI SPA FL.R 20-49 31/12A200,000.00 210,374.00 1.08EURItaly 210,374.00 1.08

ORIFLAME INVEST FL.R 21-26 04/05Q100,000.00 101,820.00 0.52EURJersey Island 101,820.00 0.52

DND BANK ASA FL.R 16-XX 18/10A200,000.00 175,131.12 0.90USDNorway 175,131.12 0.90

CAIXA GERAL DEPOSITOS FL.R 18-28 28/06A300,000.00 330,021.00 1.69EURPortugal 531,191.00 2.72

ENERGIAS DE PORTUGAL FL.R 21-81 02/0200,000.00 201,170.00 1.03EUR

BANCO DE SABADELL SA FL.R 20-23 29/06A100,000.00 101,852.00 0.52EURSpain 1,052,242.00 5.38

BANCO SANTANDER FL.R 17-XX 25/04Q200,000.00 209,014.00 1.07EUR

BBVA S5 REGS FL.R 17-XX 24/08Q200,000.00 208,484.00 1.07EUR

CAIXABANK SA FL.R 17-27 15/03A300,000.00 306,780.00 1.56EUR

CAIXABANK SUB FL.R 17-XX 13/06A200,000.00 226,112.00 1.16EUR

CREDIT SUISS GROUP FL.R 17-XX 29/07S200,000.00 176,701.24 0.90USDSwitzerland 176,701.24 0.90

IBERDROLA INTL BV 1.45 21-99 31/12A200,000.00 202,082.00 1.03EURThe Netherlands 1,228,433.96 6.27

ING GROEP NV FL.R 19-XX 16/04S300,000.00 280,166.96 1.43USD

REPSOL INTL FINANCE FL.R 20-49 31/12A100,000.00 107,193.00 0.55EUR

VOLKSWAGEN INTL FL.R 20-XX 09/07A400,000.00 432,772.00 2.21EUR

VOLKSWAGEN INTL FIN FL.R 17-XX 14/12A200,000.00 206,220.00 1.05EUR

HSBC HOLDING FL.R 14-XX 16/09S200,000.00 209,514.00 1.07EURUnited Kingdom 426,538.00 2.18

SSE PLC FL.R 20-XX 14/07A200,000.00 217,024.00 1.11EUR

GOLDMAN SACHS GROUP FL.R 21-24 30/04A400,000.00 400,288.00 2.05EURUnited States of America 400,288.00 2.05

GOLDSTORY SAS 5.3750 21-26 01/03S100,000.00 102,489.00 0.52EUR

Other transferable securities 808,058.00 4.13

Bonds and money market instruments 808,058.00 4.13

France 102,489.00 0.52

GRUENENTHAL GMBH 3.625 21-26 15/11A100,000.00 103,006.00 0.53EURGermany 103,006.00 0.53

DANA FINANCING LUX 3.0 21-29 15/07S100,000.00 102,734.00 0.53EURLuxembourg 302,938.00 1.55

TRATON FINANCE LUX 0 21-24 14/06A200,000.00 200,204.00 1.02EUR

SYNTHOS SA 2.5 21-28 07/06A100,000.00 99,533.00 0.51EURPoland 99,533.00 0.51

GRUPO ANTOLIN IRAUSA SA 3.5 21-28 30/04S100,000.00 99,925.00 0.51EURSpain 99,925.00 0.51

NOBEL BIDCO BV 3.125 21-28 15/06S100,000.00 100,167.00 0.51EURThe Netherlands 100,167.00 0.51




% of netassets

Market value


66Page

OSTRUM SUSTAINABLE TRESORERIE I-CAP29.00 359,029.28 1.84EUR



France 359,029.28 1.84

NIFLI EURO HI -I/A-EUR CAP1,500.00 263,025.00 1.34EURLuxembourg 890,810.50 4.55

NIFLI SH.TERM GLB HIGH INCOME H-IC EURO5,450.00 627,785.50 3.21EUR





% of netassets

Market value


67Page



734,963.07Income450,459.63Net interest on bonds 2i)Note


276,118.29Interest on swaps




90,907.14Performance fee 4Note

2,250.00Domiciliation fees577.95Professional fees



316,632.62Interest on swaps-21,312.00Other expenses



-51,800.00- options50,726.40- forward foreign exchange contracts

-24,963.98- financial futures-290,348.82- swaps-73,226.78- foreign exchange


918,410.87- investments10,637.60- options

-10,263.48- forward foreign exchange contracts16,720.00- financial futures

373,572.27- swaps






68Page

Natixis AM Funds- DNCA Global Convertible Bonds (formerly Ostrum

Global Convertible Bonds)


69Page


3,383,556.62Unrealised profit on the securities portfolio1,943,382.74Cash at banks and liquidities

238,492.71Interest receivable1,034,519.98Brokers receivable


78,110,601.14Receivable on spot exchange

79,749,870.43Liabilities673.07Bank overdrafts

1,060,096.51Brokers payable78,371,173.66Payable on spot exchange




Expressed in USDStatement of net assets as at 30/06/21

Natixis AM Funds - DNCA Global Convertible Bonds (formerly Ostrum GlobalConvertible Bonds)





01/07/20

Class SI NPF (USD) 86,780.00 0.00 0.00 86,780.00

Class I (H-EUR) 156,010.68 619,219.04 39,353.00 735,876.72

Class I (USD) 437,781.00 12,000.00 22,000.00 427,781.00

Class NA (H-EUR) (*) 0.00 802.28 0.00 802.28

Class RA (H-EUR) (*) 0.00 15,641.98 0.00 15,641.98


70Page

Statistics



Total Net Assets 195,325,238.35 85,741,421.32 86,614,331.41

30/06/1930/06/2030/06/21Year ending as at:

USD

Class SI NPF (USD)

148.59

86,780.00 86,780.00

125.79

86,780.00

112.15

Number of shares


Class I (H-EUR)

134.47

735,876.72 156,010.68

114.21

177,853.00

104.72

Number of shares


Class I (USD)

147.50

427,781.00 437,781.00

125.20

495,888.00

112.26

Number of shares


Class NA (H-EUR) (*)

101.57

802.28 0.00

0.00

0.00

0.00

Number of shares


Class RA (H-EUR) (*)

101.54

15,641.98 0.00

0.00

0.00

0.00

Number of shares



71Page

SAINT GOBAIN TITRE PARTICIPATIF 83-XX1,974.00 313,689.52 0.16EUR


Shares 313,689.52 0.16

France 313,689.52 0.16

CATHAY PACIFIC FIN CV 2.75 21-26 05/02S8,000,000.00 1,055,763.65 0.54HKD


Cayman Islands 1,055,763.65 0.54

ZHEJIANG EXPRESSWAY 0.00 CV 21-26 20/01U1,200,000.00 1,499,989.23 0.77EURChina 1,499,989.23 0.77

SCHNEIDER ELECTRIC SE CV 20-26 15/06A5,385.00 1,253,836.60 0.64EURFrance 6,500,505.08 3.33

SOITEC SA CV 0.0 20-25 01/10U6,965.00 1,852,188.91 0.95EUR

VINCI SA CV 0.375 17-22 16/02S3,000,000.00 3,394,479.57 1.74USD

SYMRISE AG CV 0.2375 17-24 20/06A200,000.00 309,180.74 0.16EURGermany 309,180.74 0.16

CYBERAGENT INC CV 0.00 18-23 17/02U60,000,000.00 818,039.70 0.42JPYJapan 818,039.70 0.42

QIAGEN NV CV 0.50 17-23 13/09S200,000.00 247,737.00 0.13USDThe Netherlands 247,737.00 0.13

AIRBNB INC CV 0.00 21-26 15/03U2,600,000.00 2,427,373.00 1.24USDUnited States of America 6,701,636.65 3.42

DEXCOM INC CV 0.25 21-25 15/112,000,000.00 2,091,080.00 1.07USD

EXACT SCIENCES CORP 0.375 20-28 01/03S700,000.00 867,233.50 0.44USD

JP MORGAN CHASE CV 0.00 21-24 10/06U1,000,000.00 1,315,950.15 0.67EUR

AFTERPAY LTD CV 0.0 21-26 12/03U1,000,000.00 693,617.56 0.36AUD

Convertible bonds 163,927,918.94 83.93

Australia 693,617.56 0.36

AMS AG CV 2.125 20-27 03/11S1,000,000.00 1,172,668.23 0.60EURAustria 1,551,217.24 0.79

IMMOFINANZ AG CV 1.50 17-24 24/01S300,000.00 378,549.01 0.19EUR

ANLLIAN CAPITAL LTD CV 0.00 20-25 05/02U600,000.00 1,203,115.95 0.62EURBritish Virgin Islands 1,203,115.95 0.62

IVANHOE MINES LTD CV 2.50 21-26 15/04S500,000.00 611,830.18 0.31USDCanada 611,830.18 0.31

HUAZHU GROUP CV 0.375 17-22 01/11S600,000.00 755,513.52 0.39USDCayman Islands 12,594,728.75 6.45

IQIYI INC CV 3.75 19-23 01/12U1,000,000.00 1,010,843.95 0.52USD

IQIYI INC CV 4.00 20-26 15/12S1,050,000.00 1,060,988.25 0.54USD

LI AUTO CV 0.25 21-28 01/05S800,000.00 1,116,253.62 0.57USD

MEITUAN CV 0.00 21-28 27/04U2,900,000.00 3,152,871.36 1.62USD

PINDUODUO INC CV 20-25 01/12U2,700,000.00 2,797,267.50 1.43USD

POSEIDON FINANCE CV 0.00 18-25 01/02U800,000.00 849,421.23 0.43USD

SEA LTD CV 2.375 20-25 01/12S250,000.00 780,180.00 0.40USD

SINO BIOPHARMA CV 0.00 20-25 17/02U430,000.00 493,478.50 0.25EUR

ZHONGSHENG GROUP CV 0.0 20-25 21/05U3,000,000.00 577,910.82 0.30HKD

ANGANG CV 0.0 18-23 25/05U6,000,000.00 821,435.48 0.42HKDChina 821,435.48 0.42

ACCOR SA 0.70 20-27 07/12S43,641.00 2,712,756.45 1.39EURFrance 18,056,503.62 9.24

ARCHER OBLIG CV 0.00 17-23 31/03U900,000.00 1,909,627.20 0.98EUR

ATOS SE 0.0 19-24 06/11U900,000.00 1,345,089.06 0.69EUR

EDF 0.00 20-24 14/09U192,027.00 3,473,392.85 1.77EUR

NEOEN SPA CV 2.00 20-25 02/06S10,000.00 637,814.15 0.33EUR

ORPEA SA 0.375 19-27 17/05A12,000.00 2,115,944.62 1.08EUR

PIERRE ET VACANCES SA 2.00 17-23 01/04S8,000.00 316,379.48 0.16EUR

REMY COINTREAU CV 0.125 16-26 07/09A2,000.00 416,070.74 0.21EUR

SAFRAN SA 0.875 20-27 15/05A14,530.00 2,434,987.98 1.25EUR

SELENA CV 0.00 20-25 25/06U1,200,000.00 1,754,503.99 0.90EUR

WORLDLINE SA DIRTY 0.00 19-26 30/07U4,000.00 541,411.14 0.28EUR

WORLDLINE SA FRANCE 0.0 20-25 30/07U2,723.00 398,525.96 0.20EUR

DELIVERY HERO SE CV 0.25 20-24 23/01S300,000.00 454,335.02 0.23EURGermany 6,245,595.86 3.20




% of netassets

Market value


72Page

DEUTSCHE LUFTH A 20-25 11300,000.00 381,930.52 0.20EUR

DEUTSCHE POST AG 0.05 17-25 30/06A1,400,000.00 2,028,107.21 1.04EUR

DEUTSCHE WOHNEN CV 17-26 05/01A500,000.00 748,430.89 0.38EUR

HELLOFRESH SE CV 0.75 20-25 13/05S300,000.00 622,568.19 0.32EUR

RAG STIFTUNG CV 0.000 20-26 17/06U900,000.00 1,224,091.81 0.63EUR

ZALANDO SE CV 0.05 20-25 06/08A500,000.00 786,132.22 0.40EUR

CHINA EDUCATION GRP CV 2.00 19-24 28/03S5,000,000.00 849,450.29 0.44HKDHong Kong 1,963,532.64 1.01

LENOVO GROUP LTD 3.375 19-24 24/01S250,000.00 356,438.03 0.18USD

XIAOMI BEST TIME INT 0.00 20-27 17/12U700,000.00 757,644.32 0.39USD

BHARTI AIRTEL LTD 1.50 20-25 17/02S1,050,000.00 1,215,432.76 0.62USDIndia 1,215,432.76 0.62

WIX LTD CV 0.00 20-25 15/08U750,000.00 785,632.50 0.40USDIsrael 785,632.50 0.40

FALCK RENEWABLES SPA 0.0 20-25 23/09A600,000.00 732,122.20 0.37EURItaly 2,931,617.81 1.50

NEXI SPA 1.75 20-27 24/04S900,000.00 1,318,054.84 0.68EUR

SNAM SPA 0.00 17-22 20/03U700,000.00 881,440.77 0.45EUR

KANSAI PAINT CO LTD 0.00 16-22 17/06U100,000,000.00 933,785.40 0.48JPYJapan 9,619,241.21 4.92

KYORITSU MAINTENANCECV 0.0 21-26 29/01U40,000,000.00 375,213.62 0.19JPY

MAEDA KOSEN CO CV 0.0 19-24 18/04U50,000,000.00 510,734.63 0.26JPY

NAGOYA RAILROAD CV 0.00 14-24 11/12U160,000,000.00 1,469,517.03 0.76JPY

NICHICON CORP 19-24 23/12U80,000,000.00 762,605.59 0.39JPY

ROHM CO LTD 19-24 05/12U180,000,000.00 1,761,272.07 0.91JPY

SBI HOLDINGS INC CV 0.00 20-25 25/07S50,000,000.00 496,879.87 0.25JPY

SHIP HEALTHCARE CV 0.00 18-23 13/12U100,000,000.00 1,002,419.13 0.51JPY

SONY CORP CV 0.00 15-22 30/09U55,000,000.00 1,078,015.85 0.55JPY

SUMITOMO FORESTRY CO LTD 18-23 27/09U50,000,000.00 497,842.75 0.25JPY

TAKASHIMAYA CO LTD 0.0 18-28 12/06U80,000,000.00 730,955.27 0.37JPY

CORNWALL JERSEY CV 0.75 21-26 16/04S500,000.00 671,321.13 0.34GBPJersey Island 1,274,353.74 0.65

NOVOCURE LTD -25 01/11U400,000.00 603,032.61 0.31USD

IWG GROUP HOLDING CV 0.50 20-27 09/12S1,800,000.00 2,436,976.51 1.25GBPLuxembourg 2,728,270.66 1.40

LAGFIN SCA CV 2.00 20-25 02/07A200,000.00 291,294.15 0.15EUR

XERO INVESTMENTS LTD 0.00 20-25 02/12U600,000.00 597,369.04 0.31USDNew Zealand 597,369.04 0.31

SINGAPORE AIRLINES 1.625 20-25 03/12S3,000,000.00 2,477,681.03 1.27SGDSingapore 2,477,681.03 1.27

LG DISPLAY CV 1.50 19-24 22/08S400,000.00 538,801.94 0.28USDSouth Korea 538,801.94 0.28

AMADEUS IT GROUP SA 1.50 20-25 09/04S1,600,000.00 2,569,289.03 1.32EURSpain 6,207,181.94 3.18

CELLNEX TELECOM SA 0.50 19-28 05/07A1,400,000.00 2,271,952.75 1.16EUR

INTL CONSOLIDATED 1.125 21-28 18/05S1,200,000.00 1,365,940.16 0.70EUR

GEELY SWEDEN FIN 0.00 19-24 19/06U600,000.00 949,889.56 0.49EURSweden 949,889.56 0.49

SIKA CV 0.15 18-25 05/06A1,200,000.00 2,085,282.64 1.07CHFSwitzerland 2,085,282.64 1.07

GLOBALWAFERS CO CV 0.00 21-26 01/06U1,000,000.00 1,082,581.22 0.55USDTaiwan 3,191,475.63 1.63

TAIWAN CEMENT CORP CV 0.00 18-23 10/12U600,000.00 1,062,602.24 0.54USD

WIN SEMICONDUCTORS CV 0.00 21-26 14/01U1,000,000.00 1,046,292.17 0.54USD

BE SEMICONDUCTOR CV 0.75 16-27 02/12S600,000.00 1,113,579.12 0.57EURThe Netherlands 10,767,316.23 5.51

DUFRY ONE BV 0.750 21-26 30/03S1,600,000.00 1,718,534.60 0.88CHF

IBERDROLA INTL BV 0.00 15-22 11/11A400,000.00 584,575.51 0.30EUR

QIAGEN NV CV 1 18-24 13/11S400,000.00 476,480.00 0.24USD

QIAGEN NV CV 0.00 20-27 17/12U1,800,000.00 1,746,144.00 0.89USD

STMICROELECTRON 0.0000 20-25 04/08A2,400,000.00 2,896,056.00 1.48USD

STMICROELECTRON 0.0001 17-27 04/08S1,000,000.00 1,205,595.00 0.62USD

YANDEX NV 0.75 20-25 03/031800,000.00 1,026,352.00 0.53USD




% of netassets

Market value


73Page

JET2 PLC 1.625 21-26 10/06S600,000.00 813,920.02 0.42GBPUnited Kingdom 813,920.02 0.42

AMERICAN AIRLINES 6.50 20-25 01/07S550,000.00 863,183.75 0.44USDUnited States of America 74,002,874.95 37.88

AVAYA HOLDINGS CV 2.2500 18-23 15/06S800,000.00 944,068.00 0.48USD

BENTLEY SYSTEMS CV 0.125 21-26 15/01S1,300,000.00 1,551,888.00 0.79USD

BILL.COM HOLDIN CV 0.00 20-25 01/12U1,150,000.00 1,535,963.00 0.79USD

BOOKING HOLDING 0.75 21-25 01/05S1,400,000.00 1,985,476.09 1.02USD

BRIDGEBIO PHARMA CV 2.25 21-29 01/02S800,000.00 778,340.00 0.40USD

BURLINGTON STORES INC 2.25 20-25 15/04S250,000.00 397,941.25 0.20USD

CHEGG INC CV 0.0 20-26 01/09U1,200,000.00 1,246,206.00 0.64USD

COUPA SOFTWARE INC CV 0.375 20-26 15/06S900,000.00 1,042,146.00 0.53USD

CREE INC 1.75 20-26 01/05S400,000.00 867,430.00 0.44USD

DATADOG INC CV 0.125 20-25 15/06S500,000.00 669,420.00 0.34USD

DISH NETWORK CORP CV 0.00 20-25 15/12U1,000,000.00 1,165,865.00 0.60USD

DISH NETWORK CORP CV 3.375 16-26 15/08S3,000,000.00 3,066,825.00 1.58USD

DROPBOX INC CV 0.00 21-26 01/03U1,800,000.00 1,930,455.00 0.99USD

ENPHASE ENERGY CV 0.00 21-26 01/03U2,000,000.00 1,965,990.00 1.01USD

ETSY INC 0.125 20-27 01/09S700,000.00 901,234.47 0.46USD

EXPEDIA GROUP 0.0 21-26 15/02U2,150,000.00 2,329,451.56 1.20USD

FIREEYE INC 0.875 18-24 01/06S1,200,000.00 1,362,432.00 0.70USD

FORD MOTOR CREDIT CO 0.00 21-26 15/03U3,450,000.00 3,819,359.10 1.97USD

GUARDANT HEALTH 0.00 20-27 15/11U1,000,000.00 1,143,275.00 0.59USD

HEALTH CATALYST CV 2.500 20-25 15/04S500,000.00 959,760.79 0.49USD

IAC FINANCECO CV & 0.875 19-26 15/06S300,000.00 576,604.69 0.30USD

ILLUMINA INC 0.00 18-23 15/08U800,000.00 1,019,876.00 0.52USD

JETBLUE AIRWAYS 0.50 21-26 01/04S700,000.00 700,263.17 0.36USD


JPMORGAN CHASE BANK 0.0 21-24 18/02U1,400,000.00 1,822,612.89 0.93EUR

JPMORGAN CHASE BANK 0.00 20-23 28/11U1,400,000.00 1,423,548.52 0.73USD

J2 GLOBAL INC 1.75 19-26 01/11S1,100,000.00 1,410,024.00 0.72USD

LIBERTY MEDIA CORP CV 20-50 01/12Q700,000.00 809,291.00 0.41USD

LIVE NATION INC 2.5 19-23 20/031,200,000.00 1,683,408.00 0.86USD

LUMENTUM HOLDINGS CV 0.50 20-26 15/12S250,000.00 271,148.75 0.14USD

MARRIOTT VACATION CV 0.0 21-26 15/01U850,000.00 939,386.26 0.48USD

MERCADOLIBRE INC 2.00 18-28 15/08S320,000.00 1,136,927.27 0.58USD

MICROCHIP TECHNOLOGY 1.625 17-27 15/02S550,000.00 1,224,041.94 0.63USD

MP MATERIALS CORP 0.25 21-26 01/04S1,550,000.00 1,662,557.94 0.85USD

OAK STREET HEAL CV 0.00 21-26 15/03U1,150,000.00 1,177,991.00 0.60USD

OKTA CV 0.375 20-26 15/06S1,320,000.00 1,646,106.00 0.84USD

ON SEMICONDUCTOR 0.00 21-27 01/05U1,400,000.00 1,460,830.00 0.75USD

PACIRA PHARMAC RCV 2.375 17-22 01/04S400,000.00 437,202.17 0.22USD

PALO ALTO NETWORKS CV 0.375 20-25 01/06S850,000.00 1,156,391.00 0.59USD

PEBBLEBROOK HOTEL TR 1.75 20-26 15/12S450,000.00 511,110.00 0.26USD

PEGASYSTEMS INC 0.75 20-25 01/03S1,400,000.00 1,677,081.00 0.86USD

PIONEER NATURAL 0.25 20-25 15/05S650,000.00 1,040,026.00 0.53USD

RAPID7 INC 2.25 20-25 01/05S500,000.00 831,314.88 0.43USD

RAPID7 INC CV 0.250 21-27 15/03S550,000.00 612,680.75 0.31USD

RINGCENTRAL 0.0 20-25 01/03U300,000.00 331,593.00 0.17USD

SHIFT4 PAYMENTS CV 0.00 20-25 15/12U700,000.00 946,823.50 0.48USD

SILICON LABORATORIES 0.625 20-25 15/06S300,000.00 416,826.00 0.21USD

SNAP INC 0.0 21-27 01/01,750,000.00 1,872,162.23 0.96USD

SOUTHWEST AIRLINES CV 1.25 20-25 01/05S600,000.00 907,908.00 0.46USD

SPIRIT AIRLINES CV 1.0000 21-26 15/05S1,500,000.00 1,434,870.00 0.73USD

SPLUNK INC 1.125 20-27 15/06S1,000,000.00 974,390.00 0.50USD

SPLUNK INC 1.1250 18-25 15/09S2,100,000.00 2,569,392.00 1.33USD

SQUARE INC 0.00 20-26 01/05U1,150,000.00 1,296,239.75 0.66USD

SUNNOVA ENERGY INTER 0.25 21-26 01/12S900,000.00 1,118,119.50 0.57USD

SYNAPTICS CV 0.50 17-22 15/06S550,000.00 1,157,801.17 0.59USD

TELADOC HEALTH 1.25 20-27 01/06S850,000.00 966,250.25 0.49USD

UBER TECHNOLOGIES 0.00 20-25 15/12U1,200,000.00 1,218,084.00 0.62USD

VISHAY INTERTECHN CV 2.25 19-25 15/06S640,000.00 678,844.80 0.35USD

WAYFAIR INC CV 0.625 20-25 01/10S700,000.00 747,191.05 0.38USD

WESTERN DIGITAL CORP CV 1.5 18-24 01/02S700,000.00 748,408.50 0.38USD

ZYNGA INC CV 0.25 19-24 01/06S300,000.00 414,595.50 0.21USD




% of netassets

Market value


74Page

SHIZUOKA BK LTD CV FL.R 18-23 25/01Q800,000.00 788,456.00 0.40USD


Japan 788,456.00 0.40

GN GREAT NORDIC LTD 0.00 19-24 21/05U800,000.00 1,205,990.24 0.62EUR



Denmark 1,205,990.24 0.62

FLIGHT CENTRE CV 2.50 20-27 17/11S400,000.00 319,436.05 0.16AUD

Convertible bonds 10,204,251.20 5.22

Australia 319,436.05 0.16

NIO INC CV 0.0 21-26 01/02U1,100,000.00 1,049,800.37 0.54USDCayman Islands 1,049,800.37 0.54

MERCARI INC CV 0.00 21-28 14/07U70,000,000.00 650,573.22 0.33JPYJapan 1,556,303.41 0.80

SUMITOMO METAL CO CV 0.00 18-23 15/03U100,000,000.00 905,730.19 0.47JPY

ROYAL CARIBBEAN CV 2.875 20-23 15/11S1,350,000.00 1,698,610.50 0.87USDLiberia 1,698,610.50 0.87

KAKAO CORP REGS CV 0.00 20-23 28/04U500,000.00 858,453.62 0.44USDSouth Korea 858,453.62 0.44

LIVEPERSON INC CV 20-26 15/12U900,000.00 963,337.50 0.49USDUnited States of America 4,721,647.25 2.41

STRIDE INC CV 1.125 20-27 01/09S500,000.00 467,216.75 0.24USD

VAIL RESORTS INC CV 0.0 20-26 01/01U1,300,000.00 1,357,668.00 0.70USD

ZYNGA INC CV 20-26 15/12U1,800,000.00 1,933,425.00 0.98USD





% of netassets

Market value


75Page





1,797.26Bank interest on cash account67.16Bank interest on time deposits

1,527.19Securities lending income, net 2l), 9Note










-694,096.55Net loss from investmentsNet realised profit / (loss) on:


-575,170.99- forward foreign exchange contracts1,585,386.89- foreign exchange


-2,676,580.94- investments231,318.56- forward foreign exchange contracts






76Page

Natixis AM Funds- Ostrum Multi Asset Global Income


77Page


889,456.73Unrealised profit on the securities portfolio72,873.56Options purchased at market value 2d)Note87,801.12Options purchased at cost

5,844,673.14Cash at banks and liquidities888,840.05Interest receivable

2,225,304.23Brokers receivable382,703.76Net unrealised appreciation on financial futures 2c)Note

355,770.00Receivable on spot exchange68,418.79Other assets

2,843,585.02Liabilities63,742.13Options sold at market value 2d)Note77,809.96Options sold at cost

381,450.96Bank overdrafts1,326,734.41Brokers payable


356,875.32Payable on spot exchange58,250.13Accrued expenses

149.47Other liabilities



Expressed in USD


Natixis AM Funds - Ostrum Multi Asset Global Income





01/07/20

Class SI (USD) 500.00 0.00 0.00 500.00

Class I (USD) 500.00 0.00 0.00 500.00

Class I (H-EUR) 83,435.23 201.88 16,263.07 67,374.04

Class I (H-EUR) - Distribution 11,876.96 0.00 1,149.90 10,727.06

Class R (H-EUR) 72,988.42 1,191.80 9,455.39 64,724.83

Class R (H-EUR) - Distribution 742,545.34 14,533.75 87,440.39 669,638.70


78Page

Statistics


Total Net Assets 96,790,438.14 99,512,004.70 126,833,636.39

30/06/1930/06/2030/06/21Year ending as at:

USD

Class SI (USD)

111.06

500.00 500.00

105.10

500.00

103.28

Number of shares


Class I (USD)

109.63

500.00 500.00

103.92

500.00

102.33

Number of shares


Class I (H-EUR)

100.24

67,374.04 83,435.23

95.77

148,299.88

96.83

Number of shares


Class I (H-EUR) - Distribution

94.07

2.05

10,727.06 11,876.96

91.81

2.64

62,366.57

95.59

0.87

Number of shares

Net asset value per share

Dividend per share

EUR

Class R (H-EUR)

98.83

64,724.83 72,988.42

94.79

95,546.11

96.12

Number of shares


Class R (H-EUR) - Distribution

100.59

1.12

669,638.70 742,545.34

97.64

2.24

807,099.92

101.32

0.00

Number of shares


Dividend per share

EUR


79Page

ANGOLA 9.50 15-25 12/11S500,000.00 548,505.00 0.57USD



Angola 548,505.00 0.57

ARGENTINE 1.00 20-29 09/07S33,702.00 12,794.96 0.01USDArgentina 362,295.66 0.37

ARGENTINE 0.125 20-30 09/07S970,000.00 349,500.70 0.36USD

BAHRAIN 7.00 15-26 26/01S800,000.00 911,736.00 0.94USDBahrain 911,736.00 0.94

BNDES REGS 5.75 13-23 26/09S1,300,000.00 1,441,466.00 1.49USDBrazil 1,441,466.00 1.49

SINOPEC GR OVER REGS 3.90 12-22 17/05S1,000,000.00 1,027,330.00 1.06USDBritish Virgin Islands 1,027,330.00 1.06

COLOMBIA 8.125 04-24 21/05S800,000.00 948,312.00 0.98USDColombia 948,312.00 0.98

ICE 6.95 11-21 10/11S400,000.00 404,680.00 0.42USDCosta Rica 404,680.00 0.42

DOMINICAN REPUBLIC 5.875 13-24 18/04S500,000.00 532,955.00 0.55USDDominican Republic 1,462,835.00 1.51

DOMINICAN REPUBLIC 6.875 16-26 29/01S800,000.00 929,880.00 0.96USD

ECUADOR 0.0 20-30 31/07S76,581.00 42,684.72 0.04USDEcuador 645,783.16 0.67

ECUADOR 0.5 20-30 31/07S270,000.00 231,786.90 0.24USD

ECUADOR 0.5 20-35 31/07S445,770.00 306,297.48 0.32USD

ECUADOR 0.50 20-40 31/07S104,400.00 65,014.06 0.07USD

EGYPT 5.875 15-25 11/06S1,000,000.00 1,069,820.00 1.11USDEgypt 1,069,820.00 1.11

ALTICE FRANCE SA 8.1250 18-27 01/02S400,000.00 436,108.00 0.45USDFrance 3,555,012.92 3.68

CASINO GUICHARD 1.865 17-22 13/06A300,000.00 355,723.75 0.37EUR

CROWN EURO HOLDINGS 0.75 19-23 15/02S400,000.00 476,191.03 0.49EUR

LOXAM SAS 3.50 16-23 03/05S200,000.00 237,493.07 0.25EUR

PAPREC HOLDING 3.5000 21-28 01/07S300,000.00 355,215.00 0.37EUR

PARTS EUROPE SA 6.5000 20-25 16/07S200,000.00 249,195.54 0.26EUR

QUATRIM 5.8750 19-24 31/01A300,000.00 370,459.75 0.38EUR

SOCIETE GENERALE SUB 4.25 15-25 14/04S500,000.00 543,395.00 0.56USD

SPCM SA 4.875 17-25 15/09S400,000.00 410,168.00 0.42USD

SPCM SA 2.0000 20-26 01/02S100,000.00 121,063.78 0.13EUR

GABON 6.375 13-24 12/12S230,564.00 246,071.74 0.25USDGabon 246,071.74 0.25

ADLER REAL ESTATE AG 1.875 18-23 27/04A300,000.00 357,982.89 0.37EURGermany 2,665,510.66 2.76

DEUTSCHE LUFTHA 2.8750 21-25 11/02A200,000.00 241,982.89 0.25EUR

IHO VERWALTUNGS 3.625 19-25 15/05S300,000.00 361,764.72 0.37EUR

NIDDA HEALTHCARE HOLD 3.5 20-24 30/09S300,000.00 353,927.11 0.37EUR

TECHEM VERWALTUNGSGES 2.00 20-25 15/07S300,000.00 352,959.42 0.36EUR

THYSSENKRUPP AG 2.875 19-24 22/02A200,000.00 240,910.84 0.25EUR

ZF FINANCE GMBH 3.00 20-25 21/09A600,000.00 755,982.79 0.79EUR

GHANA 8.125 14-26 18/01S300,000.00 323,784.00 0.33USDGhana 323,784.00 0.33

HUNGARY 5.375 14-24 25/03S1,200,000.00 1,354,608.00 1.40USDHungary 1,354,608.00 1.40

EXP IMP BANK INDIA 3.875 19-24 12/03S600,000.00 641,226.00 0.66USDIndia 641,226.00 0.66

INDONESIA 3.375 13-23 15/04S600,000.00 631,140.00 0.65USDIndonesia 1,367,511.00 1.41

PERTAMINA 4.30 13-23 20/05S400,000.00 425,460.00 0.44USD

PERTAMINA 4.875 12-22 03/05S300,000.00 310,911.00 0.32USD

ARDAGH PACKAGING FIN 5.25 20-25 30/04S500,000.00 525,065.00 0.55USDIreland 1,441,829.00 1.49

VNESHECONOMBANK(VEB) 6.025 12-22 05/07S400,000.00 420,764.00 0.43USD

ZURICH FINANCE IRELAND 3.00 21-51 19/04A500,000.00 496,000.00 0.51USD




% of netassets

Market value


80Page

PLAYTECH PLC 3.75 18-23 12/10S300,000.00 361,362.70 0.37EURIsle of Man 361,362.70 0.37

ATLANTIA SPA 6.25 04-22 09/06A300,000.00 434,164.14 0.45GBPItaly 1,204,880.48 1.24

ENI SPA 4.00 18-23 12/09S500,000.00 534,440.00 0.55USD

NEXI SPA 1.6250 21-26 30/04S200,000.00 236,276.34 0.24EUR

NISSAN MOTOR CO 4.8100 20-30 17/09S500,000.00 564,630.00 0.58USDJapan 932,215.12 0.96

SOFTBANK GROUP 3.125 17-25 19/09S300,000.00 367,585.12 0.38EUR

KAZAKSTAN 5.125 15-25 21/07S400,000.00 465,636.00 0.48USDKazakhstan 465,636.00 0.48

KENYA 6.875 14-24 24/06S500,000.00 551,150.00 0.57USDKenya 551,150.00 0.57

LEBANESE REPU OF DEF 6.10 10-22 04/10S700,000.00 91,448.00 0.09USDLebanon 118,010.00 0.12

LIBAN EMTN DEFAULT 8.25 06-21 12/04S200,000.00 26,562.00 0.03USD

ADLER GROUP SA 1.875 21-26 14/01A100,000.00 116,615.48 0.12EURLuxembourg 833,851.36 0.86

ALTICE FINANCING 2.25 20-25 15/01S300,000.00 346,025.46 0.36EUR

GARFUNKELUX HOLDCO 3 6.75 20-25 01/11S300,000.00 371,210.42 0.38EUR

MEXICO 3.9000 20-25 27/04S500,000.00 555,090.00 0.58USDMexico 1,080,911.45 1.12

PEMEX 6.875 20-25 16/10S200,000.00 221,382.00 0.23USD

PETROLEOS MEXICANOS 5.95 20-31 28/01S313,000.00 304,439.45 0.31USD

MONGOLIA 5.125 12-22 05/12S300,000.00 313,536.00 0.32USDMongolia 1,233,968.00 1.27

MONGOLIA 8.75 17-24 09/03S800,000.00 920,432.00 0.95USD


MOROCCO 4.25 12-22 11/12S300,000.00 315,378.00 0.33USD

NIGERIA 6.375 13-23 12/07S200,000.00 214,870.00 0.22USDNigeria 214,870.00 0.22

SULTANATE OF OMAN 4.875 19-25 01/02S1,000,000.00 1,049,670.00 1.08USDOman 1,049,670.00 1.08

PERU (REP OF) 7.35 05-25 21/07S800,000.00 982,448.00 1.01USDPeru 1,085,787.00 1.12

REPUBLIC OF PER 2.3920 20-26 23/01S100,000.00 103,339.00 0.11USD

ETAT DU QATAR 3.375 19-24 14/03S1,000,000.00 1,073,640.00 1.11USDQatar 1,073,640.00 1.11

RCS & RDS SA 2.50 20-25 05/02S200,000.00 237,803.78 0.25EURRomania 777,878.78 0.80

ROMANIA REGS 4.375 13-23 22/08S500,000.00 540,075.00 0.55USD

RUSSIE (FED OF) REGS 4.50 12-22 04/04S600,000.00 617,982.00 0.64USDRussia 617,982.00 0.64

SAUDI ARABIAN OIL COM 1.625 20-25 24/11S200,000.00 202,192.00 0.21USDSaudi Arabia 513,820.00 0.53

SAUDI INTERNATIONA 2.875 17-23 04/03S300,000.00 311,628.00 0.32USD

SERBIA 7.25 11-21 28/09S132,000.00 134,168.76 0.14USDSerbia 134,168.76 0.14

SOUTH AFRICA 4.665 12-24 17/01A600,000.00 646,554.00 0.67USDSouth Africa 1,831,925.25 1.89

SOUTH AFRICA 8.75 12-48 28/02S20,000,000.00 1,185,371.25 1.22ZAR

INTL CONS AIRLINES GR 2.75 21-25 25/03A300,000.00 356,460.20 0.37EURSpain 919,675.20 0.95

TELEFONICA EMISIONES 4.103 17-27 08/03S500,000.00 563,215.00 0.58USD

SRI LANKA 5.875 12-22 25/07S900,000.00 769,500.00 0.79USDSri Lanka 1,047,512.00 1.08

SRI LANKA 6.85 18-24 14/03S400,000.00 278,012.00 0.29USD

INTRUM AB 4.8750 20-25 15/08A200,000.00 249,745.79 0.26EURSweden 838,900.91 0.87

SAMHALLSBYGGNAD 2.8750 21-49 31/12A500,000.00 589,155.12 0.61EUR

DUFRY ONE BV 2.50 17-24 15/10S400,000.00 472,932.18 0.49EURThe Netherlands 2,567,977.11 2.65




% of netassets

Market value


81Page

EDP FINANCE BV 1.7100 20-28 24/01S500,000.00 495,025.00 0.51USD

ENERGIZER GAMMA 4.6250 18-26 15/07S400,000.00 485,725.67 0.50EUR

OI EUROPEAN GROUP 3.125 16-24 15/11S300,000.00 368,734.26 0.38EUR

OI EUROPEAN GROUP 4 17-23 15/03S200,000.00 206,390.00 0.21USD

STELLANTIS 5.25 15-23 15/04S500,000.00 539,170.00 0.56USD

TURKEY 6.375 20-25 14/10S1,600,000.00 1,677,040.00 1.73USDTurkey 1,677,040.00 1.73

UKRAINE 7.75 15-25 01/09S1,000,000.00 1,097,430.00 1.13USDUkraine 1,097,430.00 1.13

ABU DHABI REGS 3.125 16-26 03/05S1,000,000.00 1,093,600.00 1.14USDUnited Arab Emirates 3,163,830.00 3.28

EMIRATE OF ABU DHABI 2.50 20-25 16/04S1,000,000.00 1,063,630.00 1.10USD

EMIRATES DEVELOPMENT 1,639 21-26 15/06S1,000,000.00 1,006,600.00 1.04USD

INTL GAME TECHNOLOGY 3.5000 19-26 15/06S300,000.00 365,301.08 0.38EURUnited Kingdom 1,277,581.50 1.32

RECKITT 144A 3.00 17-27 26/08S500,000.00 541,070.00 0.56USD

VODAFONE GROUP 3.1 18-79 03/01A300,000.00 371,210.42 0.38EUR

ADT CORP 3.50 13-22 15/07S400,000.00 408,820.00 0.42USDUnited States of America 22,100,488.59 22.84

AMERICAN TOWER 4.00 15-25 01/06S500,000.00 550,920.00 0.57USD

BALL 5.00 12-22 15/03S300,000.00 309,033.00 0.32USD

BALL CORP 4.375 15-23 15/12S200,000.00 260,788.90 0.27EUR

BECTON DICKINSON 3.734 14-24 15/12S400,000.00 435,824.00 0.45USD

BERRY GLOBAL IN 0.9500 21-24 15/02S300,000.00 300,792.00 0.31USD

BOEING CO 2.8000 19-24 01/03S500,000.00 522,295.00 0.54USD

BOSTON SCIENTIFIC 3.85 15-25 15/05S500,000.00 552,385.00 0.57USD

CCO HLDGS LLC/C 5.7500 15-26 15/02S211,000.00 218,161.34 0.23USD

CHEMOURS CO 4.00 18-26 15/05S350,000.00 426,035.17 0.44EUR

CROWN AMERICAS 4.50 13-23 15/01S200,000.00 209,864.00 0.22USD

DIGITAL REALTY TRU 3.70 17-27 15/08S400,000.00 448,428.00 0.46USD

FISERV INC 3.20 19-26 01/07S400,000.00 433,552.00 0.45USD

FORD MOTOR CREDIT CO 8.50 20-23 21/04S800,000.00 893,472.00 0.92USD

HCA INC 5.875 12-23 01/05S600,000.00 652,326.00 0.67USD

JOHN DEERE CAPI 0.7000 21-26 15/01S500,000.00 495,415.00 0.51USD

KINDER MORGAN INC 4.30 14-25 08/06S400,000.00 445,660.00 0.46USD

LENNAR CORP 4.75 13-22 15/11S300,000.00 314,016.00 0.32USD

LEVEL 3 FINANCING INC 5.25 17-26 15/03S100,000.00 103,153.00 0.11USD

LUMEN TECH 5.80 12-22 15/03S500,000.00 515,260.00 0.53USD

MCDONALD'S CORP 2.1250 20-30 01/03S500,000.00 506,070.00 0.52USD

MGM RESORTS INTL 7.75 12-22 15/03S400,000.00 418,428.00 0.43USD

MONDELEZ INTL 1.50 20-25 04/05S500,000.00 509,345.00 0.53USD

MPT OPER PARTNERSHIP 4.00 15-22 19/08A200,000.00 245,602.27 0.25EUR

NASDAQ 4.25 14-24 01/06S500,000.00 547,180.00 0.57USD

NEWELL BRANDS INC 3.75 16-21 01/10S500,000.00 598,849.85 0.62EUR

ORACLE CORP 2.50 12-22 15/10S1,000,000.00 1,026,820.00 1.06USD

PERNOD RIC INTL FIN 1.6250 20-31 01/04S500,000.00 474,105.00 0.49USD

QUALCOMM INC 2.15 20-30 20/05S500,000.00 512,320.00 0.53USD

SEALED AIR CORP RE 4.50 15-23 15/09S400,000.00 513,096.23 0.53EUR

SOUTHWESTERN ENERG 4.95 15-25 23/01S100,000.00 110,382.00 0.11USD

SPRINT CORP 7.25 14-21 15/09S800,000.00 810,336.00 0.84USD

TENET HEALTHCARE 4.625 17-24 15/07S600,000.00 609,132.00 0.63USD

THERMO FISHER SCIENTIF4.497 20-30 25/03S400,000.00 476,776.00 0.49USD

T-MOBILE USA INC 3.5 21-25 15/04S400,000.00 433,908.00 0.45USD

TOLL BROS FINANCE COR 4.375 13-23 15/04S600,000.00 628,254.00 0.65USD

UNITED STATES TREASURY 0.25 20-25 31/05S2,900,000.00 2,851,968.75 2.96USD



VIATRIS INC 2.7 20-30 22/06S500,000.00 505,685.00 0.52USD

URUGUAY 4.50 13-24 14/08S500,000.00 543,525.00 0.56USDUruguay 543,525.00 0.56

VIETNAM REGS 4.80 14-24 19/11S500,000.00 558,200.00 0.58USDVietnam 558,200.00 0.58

ZAMBIA 5.375 12-22 20/09S200,000.00 126,936.00 0.13USDZambia 126,936.00 0.13




% of netassets

Market value


82Page

SOLVAY SA FL.R 18-XX 04/03A200,000.00 255,521.13 0.26EUR


Belgium 255,521.13 0.26

EDF FL.R 13-XX 29/01S400,000.00 420,040.00 0.43USDFrance 999,038.32 1.03

EDF SA 144A FL.R 14-XX 22/01S100,000.00 108,030.00 0.11USD

UNIBAIL RODAMCO FL.R 18-XX 25/10A400,000.00 470,968.32 0.49EUR

INTESA SAN PAOLO FL.R 17-XX 16/05S300,000.00 390,895.18 0.40EURItaly 390,895.18 0.40

ABANCA CORP BANCARIA FL.R 18-XX XX/XXQ200,000.00 258,554.66 0.27EURSpain 2,260,657.46 2.35

BANCO BILBAO VI FL.R 18-XX 24/03Q400,000.00 513,233.80 0.54EUR

BANCO DE SABADELL SA FL.R 17-XX 18/02Q200,000.00 244,179.18 0.25EUR

BANCO SANTANDER FL.R 17-XX 25/04Q400,000.00 495,739.41 0.52EUR

BANKIA SUB FL.R 17-XX 18/07Q400,000.00 495,720.44 0.51EUR

IBERCAJA 7 18 06/04Q200,000.00 253,229.97 0.26EUR

NATURGY FINANCE BV FL.R 14-XX 30/11A200,000.00 249,446.95 0.26EURThe Netherlands 1,124,303.16 1.16

REPSOL INTL FINANCE FL.R 15-75 25/03A300,000.00 389,301.32 0.40EUR

TELEFONICA EUROPE BV FL.R 17-XX 07/06M400,000.00 485,554.89 0.50EUR

BARCLAYS PLC SUB FL.R 17-XX 15/03Q300,000.00 448,325.32 0.46GBPUnited Kingdom 1,390,558.32 1.44

RBS GPR FL.R 16-XX 30/09Q500,000.00 504,705.00 0.53USD

STANDARD CHART. 7.75 17-49 02/04S400,000.00 437,528.00 0.45USD

BANK OF AMERICA FL.R 20-31 24/10S200,000.00 195,072.00 0.20USDUnited States of America 195,072.00 0.20

CORDATUS CLO PLC FL.R 21-33 18/11Q300,000.00 355,770.00 0.37EUR

Mortgage and asset backed securities 355,770.00 0.37

Ireland 355,770.00 0.37

GHANA 7.75 21-29 07/04S600,000.00 614,694.00 0.64USD


Bonds and money market instruments 733,285.19 0.76

Ghana 614,694.00 0.64

JAGUAR LAND ROVER 2.20 17-24 15/01S100,000.00 118,591.19 0.12EURUnited Kingdom 118,591.19 0.12

UNICREDIT SPA FL.R 17-49 03/12S400,000.00 511,791.75 0.53EUR


Italy 511,791.75 0.53

PELMO SRL FL.R 21-36 15/12M400,000.00 474,360.00 0.49EUR

Mortgage and asset backed securities 948,720.00 0.98

Italy 474,360.00 0.49

AUTONORIA SPAIN 21 FT FL.R 21-39 31/01M400,000.00 474,360.00 0.49EURSpain 474,360.00 0.49

DNCA CONVERTIBLES EURO I12.00 2,292,247.60 2.37EUR



France 9,600,223.77 9.92


OSTRUM GLOBAL SUBORD FCP EUR 4 DEC360.00 5,413,673.82 5.59EUR





% of netassets

Market value


83Page



3,162,774.50Income2,946,375.35Net interest on bonds 2i)Note


95,961.43Interest on swaps





10,227.69Bank interest on overdrafts4,261.41Legal fees


63.20Expenses on repurchase and reverse repurchase transactions76,895.42Interest on swaps




-81,398.90- options3,718,403.08- forward foreign exchange contracts

941,295.28- financial futures38,993.21- swaps

2,172,117.63- foreign exchange


2,107,984.00- investments60,534.95- options

-843,698.19- forward foreign exchange contracts174,959.78- financial futures-55,492.00- swaps


158,600.43Subscription capitalisation shares1,711,358.82Subscription distribution shares





84Page

Natixis AM Funds- DNCA Euro Value Equity (formerly Ostrum Euro

Value Equity)


85Page


162.57Subscriptions receivable27,564.90Dividends receivable3,424.05Other assets


308,397.53Accrued performance fees payable 4Note

8,008.04Redemptions payable37,774.72Accrued expenses



Expressed in EUR


Natixis AM Funds - DNCA Euro Value Equity (formerly Ostrum Euro Value Equity)





01/07/20

Class M (EUR) - Distribution 220.15 82.43 63.07 239.51

Class I (EUR) 24.71 0.53 24.24 1.00

Class I (EUR) - Distribution 2,649.00 0.00 130.00 2,519.00

Class R (EUR) 123.66 0.00 47.66 76.00


86Page

Statistics


Total Net Assets 44,610,634.37 33,684,940.15 53,292,545.73

30/06/1930/06/2030/06/21Year ending as at:

EUR

Class M (EUR) - Distribution

59,740.42

239.51 220.15

44,040.86

262.07

50,826.31

Number of shares


Class I (EUR)

13,051.52

1.00 24.71

9,614.01

1,162.75

10,810.70

Number of shares



12,020.60

2,519.00 2,649.00

8,962.24

2,649.00

10,342.55

Number of shares


Class R (EUR)

118.64

76.00 123.66

88.14

50.40

100.52

Number of shares



87Page

D'IETEREN36,500.00 3,723,000.00 8.35EUR


Shares 43,485,187.40 97.48

Belgium 4,006,250.00 8.98

UMICORE SA5,500.00 283,250.00 0.63EUR

ALD SA59,000.00 745,760.00 1.67EURFrance 19,174,094.00 42.99

ALTEN SA6,200.00 693,160.00 1.55EUR

BNP PARIBAS SA11,533.00 609,749.71 1.37EUR

BOUYGUES SA21,582.00 673,142.58 1.51EUR

CIE DE SAINT-GOBAIN24,942.00 1,385,278.68 3.11EUR

CREDIT AGRICOLE SA152,070.00 1,796,554.98 4.03EUR

EUTELSAT COMMUNICATIONS SA38,500.00 379,379.00 0.85EUR

NEXANS SA11,400.00 876,090.00 1.96EUR

RENAULT SA18,000.00 613,530.00 1.38EUR

SANOFI20,000.00 1,767,200.00 3.96EUR

SCOR SE ACT PROV REGROUPEMENT28,200.00 756,324.00 1.70EUR

SODEXO SA10,115.00 796,050.50 1.78EUR

SOITEC SA RGPT7,800.00 1,450,020.00 3.25EUR

SOMFY SA NI6,100.00 873,520.00 1.96EUR

SOPRA STERIA GROUP4,200.00 681,240.00 1.53EUR

SPIE SA41,584.00 806,729.60 1.81EUR

THALES7,600.00 653,904.00 1.47EUR

TOTALENERGIESSE41,765.00 1,593,543.58 3.57EUR

TRIGANO6,300.00 1,097,460.00 2.46EUR

UNIBAIL RODAMCO7,300.00 532,827.00 1.19EUR

VINCI SA1,863.00 167,651.37 0.38EUR

WORLDLINE SA2,850.00 224,979.00 0.50EUR

ALLIANZ SE REG SHS880.00 185,064.00 0.41EURGermany 7,232,048.22 16.21

DWS GROUP GMBH-BEARER SHS5,500.00 210,210.00 0.47EUR

FRESENIUS SE25,000.00 1,099,875.00 2.47EUR

HELLOFRESH SE13,800.00 1,131,324.00 2.54EUR

PUMA AG15,800.00 1,588,690.00 3.56EUR

SIEMENS AG REG1,381.00 184,529.22 0.41EUR

SIEMENS ENERGY - REGISTERED SHS6,000.00 152,520.00 0.34EUR

SIXT AKTIENGESELLSCHAFT800.00 90,880.00 0.20EUR

SIXT VORZUG OHNE STIMMRECHT ISS.9734,967.00 2,377,756.00 5.34EUR

VOLKSWAGEN AG VORZ.AKT1,000.00 211,200.00 0.47EUR

CRH PLC6,582.00 279,735.00 0.62EURIreland 710,787.45 1.59

RYANAIR HLDGS12,495.00 199,420.20 0.45EUR

SMURFIT KAPPA PLC5,063.00 231,632.25 0.52EUR

ENEL SPA16,149.00 126,478.97 0.28EURItaly 237,714.92 0.53

INTESA SANPAOLO47,751.00 111,235.95 0.25EUR

ARCELORMITTAL SA70,000.00 1,809,500.00 4.06EURLuxembourg 3,451,322.00 7.74

INPOST SA97,000.00 1,641,822.00 3.68EUR

INDRA SISTEMAS SA41,000.00 315,495.00 0.71EURSpain 315,495.00 0.71

AIRBUS SE21,500.00 2,331,460.00 5.23EURThe Netherlands 8,356,761.64 18.73

CORBION22,400.00 1,079,680.00 2.42EUR

PROSUS NV1,850.00 152,569.50 0.34EUR

STELLANTIS N.V.-BEARER & REGISTERED SHS160,264.00 2,650,766.56 5.93EUR

STMICROELECTRONICS49,500.00 1,514,947.50 3.40EUR

TECHNIP ENER --- BEARER AND REG SHS54,268.00 627,338.08 1.41EUR

ROYAL DUTCH SHELL PLC42.00 714.17 0.00EURUnited Kingdom 714.17 0.00





% of netassets

Market value


88Page




1,673.77Bank interest on cash account379.66Securities lending income, net 2l), 9Note

50,666.60Other income








77.89Expenses on repurchase and reverse repurchase transactions32,006.42Other expenses



-95.82- foreign exchange


12,116,963.02- investments


5,260.71Subscription capitalisation shares4,497,703.68Subscription distribution shares-248,990.25Redemption capitalisation shares

-4,323,621.33Redemption distribution shares




89Page

Natixis AM Funds- Natixis Conservative Risk Parity


90Page


121,693.97Interest receivable39,725.73Subscriptions receivable66,367.07Other assets

1,180,565.76Liabilities122,662.90Bank overdrafts836,441.85Redemptions payable148,223.19Net unrealised depreciation on financial futures 2c)Note

73,237.82Accrued expenses



Expressed in EUR


Natixis AM Funds - Natixis Conservative Risk Parity





01/07/20

Class I (EUR) 3,916.05 212.34 2,187.60 1,940.79

Class I (EUR) - Distribution 1,000.00 0.00 600.00 400.00

Class R (EUR) 210,473.16 287,234.62 30,820.93 466,886.85


Class RE (EUR) 4,312.18 0.00 1,557.06 2,755.12

Class RE (EUR) - Distribution 99.43 0.00 0.00 99.43


91Page

Statistics


Total Net Assets 84,440,946.45 83,088,665.45 94,696,949.68

30/06/1930/06/2030/06/21Year ending as at:

EUR

Class I (EUR)

12,458.15

1,940.79 3,916.05

12,047.96

4,993.39

11,956.62

Number of shares



10,516.55

400.00 1,000.00

10,609.52

1,200.00

10,961.48

Number of shares


Class R (EUR)

118.96

466,886.85 210,473.16

115.97

154,967.88

115.96

Number of shares



105.19

1,884.94 3,894.74

105.15

33,038.29

108.69

Number of shares


Class RE (EUR)

111.20

2,755.12 4,312.18

108.96

2,438.33

109.60

Number of shares



100.21

99.43 99.43

100.31

99.43

102.83

Number of shares



92Page

FEDERAL REPUBLIC 0.00 20-22 11/03A12,500,000.00 12,558,875.00 14.87EUR



Germany 24,241,483.00 28.71

GERMANY 0.50 15-25 15/02A11,200,000.00 11,682,608.00 13.84EUR

ETC AMUNDI PHYSICAL METALS PLC6,000.00 356,262.00 0.42EURIreland 356,262.00 0.42

PORTUGAL 2.875 15-25 15/10A4,500,000.00 5,140,575.00 6.09EURPortugal 5,140,575.00 6.09

US TREASURY NOTES 1.125 20-22 28/02S2,500,000.00 2,123,008.50 2.51USDUnited States of America 2,123,008.50 2.51

LYXOR ETF MSCI USA FCP -A- CAP/DIS9,700.00 3,471,849.22 4.11EUR



France 19,524,830.60 23.11

OSTRUM CASH EURIBOR SICAV -I- CAP120.00 12,170,253.60 14.41EUR


OSTRUM ULTRA SHORT TERM BONDS PLUS1,000.00 1,555,950.00 1.84EUR

VEGA ALPHA OPPORTUNITIES FCP8.00 787,436.08 0.93EUR

INVESCO BLOOMBERG COMM EX AGRI85,000.00 1,819,425.00 2.16EURIreland 7,959,728.15 9.43

ISHARES IV MSCI EURP VAL FACT150,000.00 1,013,115.00 1.20EUR

ISHARES JPMORGA EM USD SHS USD ETF12,000.00 1,126,284.85 1.33USD

ISHARES MSCI KOREA10,000.00 554,598.00 0.66EUR

ISHS CR PAC ETF USD6,000.00 924,190.80 1.09EUR

ISHS GLOBAL INFRASTRUCTURE UCITS ETF35,000.00 937,748.00 1.11EUR

ISHS LIS PRI EQ -USD-40,000.00 1,002,464.00 1.19EUR

ISHS MSCI AUST - ACC ETF USD15,000.00 581,902.50 0.69EUR

AMUNDI EURO HIGH YIELD LIQ BD IBOXXUEC7,502.00 1,829,062.62 2.17EURLuxembourg 16,135,239.31 19.11

AMUNDI INDEX MSCI EMU UCI ETF DR3,250.00 810,218.18 0.96EUR

AMUNDI MSCI EMERGING MARKETS UCITETFEU C425,000.00 2,265,505.00 2.68EUR

AMUNDI MSCI EMU ESG LD S UCIETFDR EUR A2,500.00 623,244.75 0.74EUR

AMUNDI MSCI NORDIC UCITS1,000.00 553,152.70 0.66EUR

BNPP E FEN EC -UCITS ETF QD-DIS50,000.00 490,650.00 0.58EUR

DB X TRACKERS MSCI JPN TRN IDX -1C- CAP32,000.00 2,001,891.20 2.37EUR

DNCA INVEST SICAV ALPHA BONDS25,000.00 2,609,500.00 3.08EUR

FIDELIO CLASS I EUR (HEDGED)1,339.39 114,571.76 0.14EUR

NATIXIS INT ASG MANAGED FUTURES FD SA25,000.00 2,471,540.60 2.93USD

OSTRUM CREDIT OPPORTUNITIES SI A EUR CAP13,000.00 1,405,820.00 1.66EUR

SEEYOND EUROPE MKT NEUT SI A EUR CAP9,750.00 960,082.50 1.14EUR

H2O ADAGIO SP PART I20.00 124,897.80 0.15EURUnited Kingdom 1,617,952.15 1.92

H2O MODERATO SP PART I5.00 35,118.75 0.04EUR

H20 ADAGIO FCP -I- 4 DEC20.00 1,457,935.60 1.73EUR





% of netassets

Market value


93Page





82.20Bank interest on cash account54,165.79Securities lending income, net 2l), 9Note










108,110.00- options-350,885.41- financial futures-115,612.13- foreign exchange


2,943,059.23- investments-199,803.21- financial futures


36,377,412.59Subscription capitalisation shares13,739.65Subscription distribution shares





94Page

Natixis AM Funds- Seeyond Multi Asset Conservative Growth Fund


95Page


2,411,004.91Unrealised profit on the securities portfolio2,550,850.68Options purchased at market value 2d)Note5,000,281.42Options purchased at cost

84,000,013.61Cash at banks and liquidities1,061,704.03Interest receivable


42,574,185.63Liabilities1,052,365.29Options sold at market value 2d)Note2,691,642.65Options sold at cost

169,913.37Bank overdrafts33,162,500.00Payable for repurchase transactions 2l), 10Note


3,207,331.57Net unrealised depreciation on forward foreign exchange contracts 2b)Note





Expressed in EUR


Natixis AM Funds - Seeyond Multi Asset Conservative Growth Fund





01/07/20

Class I (EUR) 38,883.98 3,239.78 3,037.45 39,086.31

Class R (EUR) 135,512.30 65,256.97 169,713.45 31,055.82

Class R (H-USD) 400.00 0.00 0.00 400.00

Class RE (EUR) 2,101.24 1,295.94 607.75 2,789.43

Class RE (EUR) - Distribution 1,418.08 517.71 517.71 1,418.08


96Page

Statistics


(**) Closed on 19/09/19.

Total Net Assets 478,596,025.15 460,549,860.54 340,825,681.46

30/06/1930/06/2030/06/21Year ending as at:

EUR

Class M (EUR) (**)

0.00

0.00 0.00

0.00

72.73

59,239.99

Number of shares


Class I (EUR)

12,139.74

39,086.31 38,883.98

11,451.49

29,259.53

11,438.87

Number of shares


Class R (EUR)

116.22

31,055.82 135,512.30

109.80

13,657.59

110.39

Number of shares


Class R (H-USD)

117.57

400.00 400.00

110.61

710.00

108.72

Number of shares


Class RE (EUR)

111.45

2,789.43 2,101.24

104.81

1,742.97

105.90

Number of shares



97.55

1,418.08 1,418.08

92.51

649.30

93.48

Number of shares



97Page

FRANCE 0.50 15-25 25/05A7,300,000.00 7,593,971.00 1.59EUR



France 7,593,971.00 1.59


GERMANY 3.25 10-42 04/07A10,930,000.00 18,110,354.20 3.79EUR

ITAL BUON ORDI DEL ZCP 30-07-2145,000,000.00 45,043,832.39 9.41EURItaly 135,732,787.39 28.36

ITAL BUON ORDI DEL ZCP 30-09-2181,000,000.00 81,115,830.00 16.95EUR

ITALY 4.50 13-24 01/03S8,500,000.00 9,573,125.00 2.00EUR

SPAI LETR DEL TESO ZCP 10-09-2160,000,000.00 60,089,267.74 12.56EURSpain 124,152,811.93 25.94

SPAIN LETRAS DEL TES ZCP 09072164,000,000.00 64,063,544.19 13.38EUR

UNITED KINGDOM 0.75 17-23 22/07S26,600,000.00 31,423,603.00 6.57GBPUnited Kingdom 36,115,081.83 7.55

UNITED KINGDOM 3.75 11-21 07/09S4,000,000.00 4,691,478.83 0.98GBP

UNIT STAT TREA BIL ZCP 18-11-2128,500,000.00 24,027,535.98 5.02USDUnited States of America 90,756,612.60 18.96

UNITED STATES OF AMER 0.625 20-30 15/08S18,700,000.00 14,695,609.69 3.07USD



SEEY FLE PEA MT -IC- CAP 4 DEC1.00 54,603.10 0.01EUR



France 3,041,095.10 0.63

SEEYOND VOLATILITY ALTERNATIVE INCOME49.75 2,986,492.00 0.62EUR

SEEYOND VOLATILITY STRATEGY I A EUR CAP58.00 2,199,367.54 0.46EURLuxembourg 2,199,367.54 0.46





% of netassets

Market value


98Page















-4,080,773.04Net loss from investmentsNet realised profit / (loss) on:


3,655,163.39- options7,760,687.19- forward foreign exchange contracts

34,626,079.33- financial futures-3,010,774.95- foreign exchange


-6,847,891.51- investments-534,386.35- options

-5,065,696.83- forward foreign exchange contracts-1,398,387.14- financial futures


50,000.00Subscription distribution shares-55,428,598.61Redemption capitalisation shares

-49,917.12Redemption distribution shares




99Page

Natixis AM Funds- Seeyond Multi Asset Diversified Growth Fund


100Page


4,151,396.92Unrealised profit on the securities portfolio3,038,112.35Options purchased at market value 2d)Note5,978,802.09Options purchased at cost

52,070,218.26Cash at banks and liquidities723,848.19Interest receivable86,875.42Subscriptions receivable49,929.04Other assets

25,135,190.69Liabilities1,262,838.35Options sold at market value 2d)Note3,230,056.17Options sold at cost

26,682.95Bank overdrafts14,954,800.00Payable for repurchase transactions 2l), 10Note


792.79Redemptions payable3,006,143.79Net unrealised depreciation on forward foreign exchange contracts 2b)Note





Expressed in EUR


Natixis AM Funds - Seeyond Multi Asset Diversified Growth Fund





01/07/20

Class M (EUR) 392,121.48 22,510.72 44,640.38 369,991.82

Class SI NPF (EUR) 366,739.39 0.00 216.21 366,523.18

Class I (EUR) 17,115.60 452.86 6,270.30 11,298.16


Class R (EUR) 7,697.65 12,085.87 1,553.53 18,229.99


101Page

Statistics


Total Net Assets 289,612,189.90 323,525,666.08 300,336,208.47

30/06/1930/06/2030/06/21Year ending as at:

EUR

Class M (EUR)

127.93

369,991.82 392,121.48

110.99

406,337.32

109.91

Number of shares


Class SI NPF (EUR)

119.39

366,523.18 366,739.39

104.03

366,970.55

103.49

Number of shares


Class I (EUR)

15,292.67

11,298.16 17,115.60

13,562.44

15,569.41

13,504.05

Number of shares



15,160.01

0.00

1.00 1.00

13,446.27

0.00

1.00

13,388.76

0.00

Number of shares


Dividend per share

EUR

Class R (EUR)

1,411.15

18,229.99 7,697.65

1,260.89

5,867.02

1,266.39

Number of shares



102Page

FRANCE 0.50 15-25 25/05A8,900,000.00 9,258,403.00 3.20EUR



France 9,258,403.00 3.20


GERMANY 1.50 13-23 15/02A1,603,000.00 1,660,435.49 0.57EUR

GERMANY 3.25 10-42 04/07A2,600,000.00 4,308,044.00 1.49EUR

ITAL BUON ORDI DEL ZCP 30-09-2137,500,000.00 37,553,250.00 12.97EURItaly 39,306,220.00 13.57

ITALY 4.50 13-24 01/03S704,000.00 792,880.00 0.27EUR

ITALY 4.75 13-44 01/09S600,000.00 960,090.00 0.33EUR

SPAIN LETRAS DEL TES ZCP 09072134,500,000.00 34,534,426.78 11.92EURSpain 34,534,426.78 11.92

UNITED KINGDOM 0.75 17-23 22/07S31,200,000.00 36,857,759.92 12.73GBPUnited Kingdom 39,789,934.19 13.74

UNITED KINGDOM 3.75 11-21 07/09S2,500,000.00 2,932,174.27 1.01GBP


UNIT STAT TREA BIL ZCP 29-07-2125,000,000.00 21,079,966.21 7.28USD


UNITED STATES OF AMER 0.625 20-30 15/08S19,200,000.00 15,103,023.02 5.21USD




SEEYOND VOLATILITY ALTERNATIVE INCOME50.43 3,025,204.93 1.04EUR



France 3,025,204.93 1.04

SEEYOND VOLATILITY STRATEGY I A EUR CAP58.00 2,191,947.02 0.76EURLuxembourg 2,191,947.02 0.76





% of netassets

Market value


103Page

















4,123,616.17- options6,323,436.47- forward foreign exchange contracts

41,737,267.46- financial futures-3,768,661.14- foreign exchange


-4,821,864.44- investments-564,914.78- options

-4,413,217.79- forward foreign exchange contracts-2,476,843.77- financial futures






104Page

Natixis AM Funds- Seeyond Equity Factor Investing Europe (liquidated)


105Page





01/07/20

Natixis AM Funds - Seeyond Equity Factor Investing Europe (liquidated)

Class SI (EUR) 75,117.00 0.00 75,117.00 0.00

Class I (EUR) 1.00 0.00 1.00 0.00

Statistics

Total Net Assets 0.00 8,316,186.73 25,763,042.79

30/06/1930/06/2004/11/20Period ended as at:

EUR

Class SI (EUR)

0.00

0.00 75,117.00

110.70

215,928.00

119.31

Number of shares


Class I (EUR)

0.00

0.00 1.00

109.73

0.00

0.00

Number of shares



106Page


Natixis AM Funds - Seeyond Equity Factor Investing Europe (liquidated)


400.98Bank interest on cash account102.06Securities lending income, net 2l), 9Note

21.16Income on repurchase transactions 2l), 10Note


12,484.15Depositary fees198.66Taxe d'abonnement 5Note


1,375.00Domiciliation fees731.78Bank interest on overdrafts

5,450.04Legal fees12,042.37Transaction fees 2k)Note




-5,626.00- financial futures-37,054.00- foreign exchange


-205,081.55- investments4,699.00- financial futures

39,102.89Increase in net assets as a result of operations-8,355,289.62Redemption capitalisation shares


8,316,186.73Net assets at the beginning of the period

0.00Net assets at the end of the period

107Page

Natixis AM Funds- Seeyond Europe Market Neutral


108Page


624,444.63Unrealised profit on the securities portfolio414,807.33Cash at banks and liquidities

9,817.05Dividends receivable9,747.71Net unrealised appreciation on forward foreign exchange contracts 2b)Note

51,614.00Net unrealised appreciation on financial futures 2c)Note


55,382.99Liabilities51,614.00Bank overdrafts

657.55Accrued performance fees payable 4Note




Expressed in EUR


Natixis AM Funds - Seeyond Europe Market Neutral





01/07/20

Class SI (EUR) 120,998.00 648.00 78,500.00 43,146.00

Class SI/A (H-USD) 20,609.58 9,043.83 13,118.05 16,535.36

Class I (EUR) 14,000.00 1.00 14,000.00 1.00


109Page

Statistics


(*) Closed on 08/06/20.

Total Net Assets 5,650,730.34 14,926,115.65 26,247,335.66

30/06/1930/06/2030/06/21Year ending as at:

EUR

Class SI (EUR)

98.47

43,146.00 120,998.00

97.38

189,206.25

99.90

Number of shares


Class SI/A (H-USD)

100.52

16,535.36 20,609.58

98.61

20,424.70

98.99

Number of shares


Class I (EUR)

96.03

1.00 14,000.00

95.27

25,300.00

97.93

Number of shares


Class I (EUR) - Distribution (*)

0.00

0.00

0.00 0.00

0.00

2.23

32,000.00

96.60

1.40

Number of shares


Dividend per share

EUR


110Page

WIENERBERGER AG505.00 16,412.50 0.29EUR


Shares 5,187,229.13 91.80

Austria 16,412.50 0.29

ACKERMANS AND VAN HAAREN NV114.00 16,233.60 0.29EURBelgium 108,677.48 1.92

COFINIMMO SA173.00 22,213.20 0.39EUR

COLRUYT596.00 28,107.36 0.50EUR

GROUPE BRUXELLES LAMBERT GBL254.00 23,962.36 0.42EUR

UCB206.00 18,160.96 0.32EUR

A.P. MOELLER-MAERSK A/S -B-8.00 19,391.49 0.34DKKDenmark 263,338.20 4.66

A.P. MOELLER-MAERSK -A-16.00 37,481.26 0.66DKK

CARLSBERG AS -B-144.00 22,637.22 0.40DKK

COLOPLAST -B-200.00 27,675.24 0.49DKK

DSV PANALPINA A/S91.00 17,897.13 0.32DKK

NOVO NORDISK1,057.00 74,681.16 1.33DKK

NOVOZYMES -B-217.00 13,794.04 0.24DKK

PANDORA163.00 18,478.27 0.33DKK

TRYG A/S1,512.00 31,302.39 0.55DKK

ELISA CORPORATION -A-680.00 34,217.60 0.61EURFinland 189,082.63 3.35

KOJAMO RG853.00 16,437.31 0.29EUR

KONE -B-495.00 34,056.00 0.60EUR

METSO OUTOTEC OYJ1,855.00 18,171.58 0.32EUR

SAMPO OYJ -A-330.00 12,790.80 0.23EUR

STORA ENSO -R-1,464.00 22,523.64 0.40EUR

UPM KYMMENE CORP514.00 16,396.60 0.29EUR

VALMET CORPORATION461.00 16,955.58 0.30EUR

WARTSILA CORPORATION -B-1,401.00 17,533.52 0.31EUR

AIR LIQUIDE SA690.00 101,885.40 1.79EURFrance 929,929.42 16.45

ALSTOM SA598.00 25,468.82 0.45EUR

AMUNDI SA256.00 19,033.60 0.34EUR

ATOS SE395.00 20,263.50 0.36EUR

AXA SA1,204.00 25,747.54 0.46EUR

BNP PARIBAS SA352.00 18,610.24 0.33EUR

BOUYGUES SA1,372.00 42,792.68 0.76EUR

BUREAU VERITAS SA1,791.00 47,783.88 0.85EUR

CAPGEMINI SE223.00 36,126.00 0.64EUR

CARREFOUR SA1,987.00 32,954.40 0.58EUR

CNP ASSURANCES1,355.00 19,444.25 0.34EUR

DASSAULT AVIATION SA19.00 18,848.00 0.33EUR

EIFFAGE267.00 22,908.60 0.41EUR

HERMES INTERNATIONAL SA48.00 58,968.00 1.03EUR

LA FRANCAISE DES JEUX SA351.00 17,402.58 0.31EUR

MICHELIN SA REG SHS150.00 20,175.00 0.36EUR

ORANGE3,329.00 32,008.34 0.57EUR

PERNOD RICARD SA186.00 34,819.20 0.62EUR

PUBLICIS GROUPE324.00 17,476.56 0.31EUR

RUBIS530.00 19,869.70 0.35EUR

SANOFI1,180.00 104,264.80 1.84EUR

SCOR SE ACT PROV REGROUPEMENT693.00 18,586.26 0.33EUR

SEB SA161.00 24,536.40 0.43EUR

SOCIETE GENERALE SA673.00 16,730.78 0.30EUR

SOPRA STERIA GROUP131.00 21,248.20 0.38EUR

TOTALENERGIESSE1,075.00 41,016.63 0.73EUR

VIVENDI SA1,758.00 49,804.14 0.88EUR

WORLDLINE SA268.00 21,155.92 0.37EUR

ALLIANZ SE REG SHS216.00 45,424.80 0.80EURGermany 749,944.38 13.27

BECHTLE137.00 21,461.05 0.38EUR

BMW AG205.00 18,308.55 0.32EUR

BMW VORZUG - STIMMRECHTSLOS227.00 17,206.60 0.30EUR




% of netassets

Market value


111Page

COVESTRO AG359.00 19,551.14 0.35EUR

DAIMLER AG NAMEN-AKT256.00 19,276.80 0.34EUR

DEUTSCHE BOERSE AG REG SHS166.00 24,435.20 0.43EUR

DEUTSCHE POST AG REG SHS1,054.00 60,457.44 1.07EUR

DEUTSCHE TELEKOM AG REG SHS5,638.00 100,424.06 1.77EUR

E.ON SE5,257.00 51,276.78 0.91EUR

EVONIK INDUSTRIES730.00 20,644.40 0.37EUR

FREENET AG REG SHS1,098.00 21,872.16 0.39EUR

FRESENIUS SE485.00 21,337.58 0.38EUR

HANNOVER RUECK SE145.00 20,459.50 0.36EUR

HELLOFRESH SE211.00 17,297.78 0.31EUR

HENKEL AG & CO KGAA409.00 31,758.85 0.56EUR

LEG IMMOBILIEN - NAMEN AKT203.00 24,654.35 0.44EUR

MERCK KGAA241.00 38,969.70 0.69EUR

MUENCHENER RUECKVERSICHERUNGS AG REG SHS76.00 17,552.20 0.31EUR

PORSCHE AUTOMOBIL HLDG - VORZ.AKT-STIMMR146.00 13,192.56 0.23EUR

SCOUT24255.00 18,135.60 0.32EUR

SIEMENS AG REG270.00 36,077.40 0.64EUR

SIEMENS HEALTHINEERS501.00 25,891.68 0.46EUR

SYMRISE AG293.00 34,427.50 0.61EUR

VOLKSWAGEN AG VORZ.AKT67.00 14,150.40 0.25EUR

ZALANDO SE154.00 15,700.30 0.28EUR

BANK OF IRELAND - REGISTERED3,684.00 16,640.63 0.29EURIreland 89,016.97 1.58

CRH PLC434.00 18,445.00 0.33EUR

DCC PLC221.00 15,235.34 0.27GBP

GRAFTON GRP UNITS CONS.OF 1 ORD+1C+17-A-1,603.00 21,418.15 0.38GBP

LINDE PLC71.00 17,277.85 0.31EUR

ENTAIN PLC737.00 14,985.54 0.27GBPIsle of Man 14,985.54 0.27

ASSICURAZIONI GENERALI SPA2,217.00 37,478.39 0.66EURItaly 203,633.52 3.60

BANCO BPM REGISTERED5,896.00 15,995.85 0.28EUR

ENEL SPA1,784.00 13,972.29 0.25EUR

HERA SPA5,473.00 19,067.93 0.34EUR

ITALGAS SPA REG7,000.00 38,584.00 0.68EUR

POSTE ITALIANE SPA2,338.00 26,068.70 0.46EUR

SNAM SPA2,849.00 13,888.88 0.25EUR

TERNA SPA6,139.00 38,577.48 0.68EUR

GLENCORE PLC4,783.00 17,241.53 0.31GBPJersey Island 17,241.53 0.31

ARCELORMITTAL SA622.00 16,078.70 0.28EURLuxembourg 28,471.08 0.50

SOFTCAT PLC599.00 12,392.38 0.22GBP

KINDRED GROUP SWEDISH DEP REC1,320.00 17,459.87 0.31SEKMalta 17,459.87 0.31

NORDIC VLSI756.00 16,164.71 0.29NOKNorway 157,495.01 2.79

NORSK HYDRO ASA3,150.00 16,958.62 0.30NOK

ORKLA ASA5,582.00 47,971.21 0.85NOK

TELENOR ASA3,949.00 56,149.49 0.99NOK

YARA INTERNATIONAL ASA456.00 20,250.98 0.36NOK

GRUPA PEKAO SA872.00 17,962.46 0.32PLNPoland 38,206.61 0.68

PKO BANK POLSKI SA2,416.00 20,244.15 0.36PLN

EDP-ENERGIAS DE PORTUGAL SA - REG.SHS2,994.00 13,383.18 0.24EURPortugal 29,778.26 0.53

JERONIMO MARTINS SGPS SA1,066.00 16,395.08 0.29EUR

BANCO BILBAO VIZCAYA ARGENTARIA SA3,529.00 18,449.61 0.33EURSpain 113,794.90 2.01

ENDESA888.00 18,168.48 0.32EUR

IBERDROLA SA2,383.00 24,497.24 0.43EUR

RED ELECTRICA1,934.00 30,276.77 0.53EUR

VISCOFAN SA381.00 22,402.80 0.40EUR




% of netassets

Market value


112Page

AVANZA BANK HLD --- REGISTERED SHS725.00 19,079.32 0.34SEKSweden 213,270.47 3.77

BOLIDEN AB721.00 23,388.78 0.41SEK

EVOLUTION AB118.00 15,734.88 0.28SEK

GETINGE -B-603.00 19,192.31 0.34SEK

SECURITAS -B- FREE1,303.00 17,357.06 0.31SEK

SINCH1,130.00 16,044.17 0.28SEK

SKANSKA -B- FREE981.00 21,956.91 0.39SEK

TELEFON ERICSSON3,132.00 33,216.12 0.59SEK

TELE2 AB1,785.00 20,521.69 0.36SEK

TELIA COMPANY AB7,151.00 26,779.23 0.47SEK

BALOISE HOLDING REG.SHS160.00 21,061.85 0.37CHFSwitzerland 698,852.00 12.37

BARRY CALLEBAUT - NAMEN-AKT13.00 25,497.17 0.45CHF

CHOCOLADEFABRIKEN LINDT & SP PARTIZIPSCH2.00 16,794.38 0.30CHF

GALENICA SA562.00 33,478.01 0.59CHF

GEBERIT AG37.00 23,424.56 0.41CHF

GIVAUDAN SA REG.SHS12.00 47,104.54 0.84CHF

HELVETIA HLDG - REGISTERED SHS221.00 20,059.75 0.35CHF

HOLCIM LTD470.00 23,795.84 0.42CHF

LOGITECH NAMEN AKT171.00 17,486.86 0.31CHF

NESTLE SA REG SHS1,096.00 115,198.98 2.05CHF

NOVARTIS AG REG SHS863.00 66,382.19 1.18CHF

PSP SWISS PROPERTY AG234.00 25,082.10 0.44CHF

ROCHE HOLDING LTD127.00 40,381.18 0.71CHF

SCHINDLER HOLDING SA97.00 25,041.96 0.44CHF

SGS SA REG SHS10.00 26,035.40 0.46CHF

SONOVA HOLDING NAM-AKT57.00 18,095.24 0.32CHF

SWISS LIFE HOLDING N-NAMEN REGISTERED50.00 20,507.21 0.36CHF

SWISS PRIME SITE AG-NAMEN AKT497.00 41,620.69 0.74CHF

SWISSCOM SHS NOM83.00 39,993.25 0.71CHF

THE SWATCH GROUP REG377.00 20,996.03 0.37CHF

ZURICH INSURANCE GROUP NAMEN AKT91.00 30,814.81 0.55CHF

AKZO NOBEL NV310.00 32,302.00 0.57EURThe Netherlands 563,736.68 9.98

ASM INTERNATIONAL NV66.00 18,282.00 0.32EUR

ASML HOLDING NV32.00 18,540.80 0.33EUR

BESI -REGISTERED SHS254.00 18,171.16 0.32EUR

CNH INDUSTRIAL NV1,451.00 20,205.18 0.36EUR

DSM KONINKLIJKE372.00 58,552.80 1.04EUR

EURONEXT NV243.00 22,283.10 0.39EUR

ING GROUP NV1,553.00 17,300.42 0.31EUR

KONINKLIJKE AHOLD DELHAIZE NV3,064.00 76,814.48 1.36EUR

KONINKLIJKE KPN NV8,807.00 23,197.64 0.41EUR

KONINKLIJKE VOPAK850.00 32,555.00 0.58EUR

NN GROUP NV828.00 32,937.84 0.58EUR

RANDSTAD BR328.00 21,156.00 0.37EUR

ROYAL PHILIPS NV200.00 8,358.00 0.15EUR

SIGNIFY NV787.00 41,978.58 0.74EUR

STELLANTIS N.V.-BEARER & REGISTERED SHS1,273.00 21,073.24 0.37EUR

STELLANTIS N.V.-BEARER & REGISTERED SHS106.00 1,753.24 0.03EUR

WOLTERS KLUWER NV1,160.00 98,275.20 1.75EUR

ANGLO AMERICAN PLC536.00 17,935.35 0.32GBPUnited Kingdom 743,902.08 13.16

ASHTEAD GROUP344.00 21,494.74 0.38GBP

AVIVA PLC4,322.00 20,435.67 0.36GBP

BARCLAYS PLC9,357.00 18,651.87 0.33GBP

BARRATT DEVELOPMENTS PLC2,632.00 21,314.76 0.38GBP

BT GROUP PLC7,456.00 16,849.72 0.30GBP

CRODA INTL - REGISTERED SHS514.00 44,116.16 0.78GBP

DIRECT LINE INS GR PLC NI14,936.00 49,586.58 0.88GBP

FUTURE PLC REG491.00 17,913.82 0.32GBP

GLAXOSMITHKLINE PLC3,955.00 65,393.76 1.15GBP

IMI921.00 18,453.26 0.33GBP

JOHNSON MATTHEY601.00 21,514.04 0.38GBP

KINGFISHER PLC5,032.00 21,366.00 0.38GBP




% of netassets

Market value


113Page

LEGAL & GENERAL GROUP PLC6,986.00 20,963.29 0.37GBP

LLOYDS BANKING GROUP PLC31,544.00 17,156.37 0.30GBP

MORRISON SUPERMARKETS PLC6,044.00 17,369.15 0.31GBP

NATIONAL GRID PLC4,661.00 49,995.33 0.88GBP

PRIMARY HEALTH PROPERTIES PLC REIT9,164.00 16,428.91 0.29GBP

PRUDENTIAL PLC1,276.00 20,415.70 0.36GBP

QUILTER PLC12,051.00 20,881.66 0.37GBP

RECKITT BENCKISER GROUP PLC435.00 32,415.34 0.57GBP

RIO TINTO PLC257.00 17,809.92 0.32GBP

ROYAL MAIL2,393.00 16,095.50 0.28GBP

SEVERN TRENT PLC799.00 23,277.99 0.41GBP

TATE LYLE PLC2,393.00 20,583.51 0.36GBP

TAYLOR WIMPEY PLC10,537.00 19,510.23 0.35GBP

TESCO --- REGISTERED SHS12,371.00 32,129.00 0.57GBP

UNILEVER554.00 27,348.21 0.48EUR

VISTRY GROUP PLC2,663.00 36,496.24 0.65GBP





% of netassets

Market value


114Page




36.44Bank interest on cash account6,251.90Securities lending income, net 2l), 9Note

124,845.60Other income











-121,270.17- forward foreign exchange contracts-1,974,144.00- financial futures



-112,311.12- investments10,418.26- forward foreign exchange contracts

-28,036.00- financial futures

-133,568.21Decrease in net assets as a result of operations825,555.55Subscription capitalisation shares





115Page

Natixis AM Funds- Seeyond Europe Minvol


116Page


76,752.89Interest receivable86,451.26Subscriptions receivable

1,684,216.69Dividends receivable7,274.38Net unrealised appreciation on forward foreign exchange contracts 2b)Note


849,866.76Liabilities203,290.31Bank overdrafts73,427.10Redemptions payable




Expressed in EUR


Natixis AM Funds - Seeyond Europe Minvol





01/07/20

Class SI (EUR) 2,305,407.91 455,682.11 1,649,412.78 1,111,677.24

Class SI (EUR) - Distribution 4,984.06 227.30 2,144.85 3,066.51

Class N1 (EUR) 312,551.85 14,011.85 318,766.35 7,797.35

Class I (EUR) 15,299.92 2,080.19 6,777.60 10,602.51


Class N (EUR) 267,223.63 54,114.94 285,471.20 35,867.37

Class R (EUR) 87,884.04 12,053.85 38,395.22 61,542.67

Class R (EUR) - Distribution 5,933.09 2,331.87 3,864.57 4,400.39

Class R (H-USD) 10,320.75 0.00 1,920.22 8,400.53

Class RE (EUR) 1,487.72 18.28 1,409.21 96.79


117Page

Statistics


Total Net Assets 756,058,035.38 1,083,166,879.35 1,153,151,447.90

30/06/1930/06/2030/06/21Year ending as at:

EUR

Class SI (EUR)

112.68

1,111,677.24 2,305,407.91

96.77

2,266,504.77

101.46

Number of shares



76,450.65

3,066.51 4,984.06

66,951.44

4,485.15

72,246.41

Number of shares


Class N1 (EUR)

115.53

7,797.35 312,551.85

99.53

406,625.78

104.71

Number of shares


Class I (EUR)

22,940.34

10,602.51 15,299.92

19,760.10

15,890.66

20,779.97

Number of shares



69,477.80

267.48 88.09

60,841.09

2.78

65,693.70

Number of shares


Class N (EUR)

115.22

35,867.37 267,223.63

99.37

514,393.07

104.64

Number of shares


Class R (EUR)

2,078.87

61,542.67 87,884.04

1,810.22

88,943.63

1,924.37

Number of shares



120.61

4,400.39 5,933.09

105.60

4,653.05

114.02

Number of shares


Class R (H-USD)

145.54

8,400.53 10,320.75

125.52

5,443.65

129.65

Number of shares


Class RE (EUR)

123.74

96.79 1,487.72

108.48

434.31

116.13

Number of shares



118Page

ACKERMANS AND VAN HAAREN NV14,664.00 2,088,153.60 0.28EUR


Shares 743,111,439.03 98.29

Belgium 15,218,066.36 2.01

COFINIMMO SA20,683.00 2,655,697.20 0.35EUR

COLRUYT81,131.00 3,826,137.96 0.51EUR

GROUPE BRUXELLES LAMBERT GBL55,897.00 5,273,322.98 0.69EUR

TELENET GROUP HOLDING NV43,313.00 1,374,754.62 0.18EUR

CARLSBERG AS -B-29,693.00 4,667,825.45 0.62DKKDenmark 35,191,494.80 4.65

COLOPLAST -B-48,979.00 6,777,527.79 0.90DKK

NOVO NORDISK235,267.00 16,622,529.07 2.19DKK

TRYG A/S344,092.00 7,123,612.49 0.94DKK

ELISA CORPORATION -A-121,889.00 6,133,454.48 0.81EURFinland 22,314,325.27 2.95

KOJAMO RG155,839.00 3,003,017.53 0.40EUR

KONE -B-83,529.00 5,746,795.20 0.76EUR

SAMPO OYJ -A-85,886.00 3,328,941.36 0.44EUR

UPM KYMMENE CORP128,593.00 4,102,116.70 0.54EUR

AIR LIQUIDE SA163,899.00 24,201,326.34 3.20EURFrance 170,991,177.69 22.63

ALSTOM SA149,538.00 6,368,823.42 0.84EUR

AMUNDI SA78,958.00 5,870,527.30 0.78EUR

AXA SA286,323.00 6,123,017.36 0.81EUR

BOUYGUES SA166,973.00 5,207,887.87 0.69EUR

BUREAU VERITAS SA309,413.00 8,255,138.84 1.09EUR

CAPGEMINI SE30,297.00 4,908,114.00 0.65EUR

CARREFOUR SA528,557.00 8,766,117.85 1.16EUR

DASSAULT AVIATION SA1,825.00 1,810,400.00 0.24EUR

EIFFAGE48,740.00 4,181,892.00 0.55EUR

ENGIE SA390,221.00 4,508,613.43 0.60EUR

FAURECIA1.00 41.37 0.00EUR

HERMES INTERNATIONAL SA11,863.00 14,573,695.50 1.93EUR

LVMH MOET HENNESSY LOUIS VUITTON SE10,364.00 6,853,713.20 0.91EUR

ORANGE726,716.00 6,987,374.34 0.92EUR

PERNOD RICARD SA41,799.00 7,824,772.80 1.03EUR

SANOFI289,601.00 25,589,144.36 3.39EUR

SEB SA19,647.00 2,994,202.80 0.40EUR

TELEPERFORMANCE SE18,905.00 6,471,181.50 0.86EUR


VIVENDI SA324,639.00 9,197,022.87 1.22EUR

WORLDLINE SA46,360.00 3,659,658.40 0.48EUR

ALLIANZ SE REG SHS24,103.00 5,068,860.90 0.67EURGermany 106,844,820.36 14.13

COVESTRO AG120,411.00 6,557,583.06 0.87EUR

DEUTSCHE BOERSE AG REG SHS46,783.00 6,886,457.60 0.91EUR

DEUTSCHE POST AG REG SHS97,739.00 5,606,309.04 0.74EUR

DEUTSCHE TELEKOM AG REG SHS1,316,214.00 23,444,403.77 3.09EUR

E.ON SE1,048,738.00 10,229,390.45 1.35EUR

HANNOVER RUECK SE21,294.00 3,004,583.40 0.40EUR

HENKEL AG & CO KGAA84,338.00 7,509,455.52 0.99EUR

LEG IMMOBILIEN - NAMEN AKT49,688.00 6,034,607.60 0.80EUR

RWE AG143,292.00 4,379,003.52 0.58EUR

SIEMENS AG REG66,281.00 8,856,467.22 1.17EUR

SIEMENS HEALTHINEERS122,418.00 6,326,562.24 0.84EUR

SYMRISE AG79,524.00 9,344,070.00 1.24EUR

VONOVIA SE65,977.00 3,597,066.04 0.48EUR

KERRY GROUP -A-36,740.00 4,327,972.00 0.57EURIreland 6,904,561.80 0.91

LINDE PLC10,588.00 2,576,589.80 0.34EUR

ASSICURAZIONI GENERALI SPA202,932.00 3,430,565.46 0.45EURItaly 25,680,486.34 3.40

ENEL SPA564,991.00 4,425,009.51 0.59EUR

INFRASTRUTTURE WIRELESS ITALIANE SPA159,968.00 1,521,615.62 0.20EUR




% of netassets

Market value


119Page

ITALGAS SPA REG1,238,430.00 6,826,226.16 0.91EUR

POSTE ITALIANE SPA332,556.00 3,707,999.40 0.49EUR

TERNA SPA918,057.00 5,769,070.19 0.76EUR

AROUNDTOWN SA372,585.00 2,451,609.30 0.33EURLuxembourg 6,444,771.21 0.85

B M EUROPEAN VALUE RETAIL275,649.00 1,840,549.91 0.24GBP

EUROFINS SCIENTIFIC SE22,330.00 2,152,612.00 0.28EUR

ORKLA ASA1,273,576.00 10,944,998.50 1.45NOKNorway 21,974,554.99 2.91

TELENOR ASA775,710.00 11,029,556.49 1.46NOK

EDP-ENERGIAS DE PORTUGAL SA - REG.SHS941,731.00 4,209,537.57 0.56EURPortugal 4,209,537.57 0.56

ENDESA239,285.00 4,895,771.10 0.65EURSpain 14,112,871.37 1.87

IBERDROLA SA419,988.00 4,317,476.64 0.57EUR

RED ELECTRICA312,975.00 4,899,623.63 0.65EUR

TELEFON ERICSSON695,111.00 7,371,932.47 0.97SEKSweden 10,384,447.87 1.37

TELE2 AB262,032.00 3,012,515.40 0.40SEK

ALLREAL HOLDING LTD REG.SHS8,889.00 1,477,445.54 0.20CHFSwitzerland 120,446,557.09 15.93

BARRY CALLEBAUT - NAMEN-AKT3,408.00 6,684,181.72 0.88CHF

CHOCOLADEFABRIKEN LINDT & SP PARTIZIPSCH288.00 2,418,390.80 0.32CHF

CHOCOLADEFABRIKEN LINDT & SP REGS35.00 3,093,869.73 0.41CHF

GALENICA SA79,268.00 4,721,948.91 0.62CHF

GEBERIT AG3,865.00 2,446,916.62 0.32CHF

GIVAUDAN SA REG.SHS1,961.00 7,697,667.40 1.02CHF

HOLCIM LTD75,628.00 3,829,003.83 0.51CHF

NESTLE SA REG SHS252,124.00 26,500,389.78 3.50CHF

NOVARTIS AG REG SHS196,117.00 15,085,372.60 2.00CHF

PSP SWISS PROPERTY AG39,333.00 4,216,044.06 0.56CHF

ROCHE HOLDING LTD31,411.00 9,987,505.98 1.32CHF

SCHINDLER HOLDING SA19,947.00 5,149,608.65 0.68CHF

SIKA - REGISTERED SHS19,766.00 5,454,492.80 0.72CHF

SWISS PRIME SITE AG-NAMEN AKT72,923.00 6,106,852.22 0.81CHF

SWISSCOM SHS NOM17,606.00 8,483,387.34 1.12CHF

THE SWATCH GROUP5,189.00 1,502,452.65 0.20CHF

ZURICH INSURANCE GROUP NAMEN AKT16,511.00 5,591,026.46 0.74CHF

AKZO NOBEL NV64,033.00 6,672,238.60 0.88EURThe Netherlands 82,510,999.49 10.91

ASML HOLDING NV13,338.00 7,728,037.20 1.02EUR

ASR NEDERLAND NV91,168.00 2,971,165.12 0.39EUR

DSM KONINKLIJKE76,794.00 12,087,375.60 1.60EUR

EURONEXT NV65,271.00 5,985,350.70 0.79EUR

KONINKLIJKE AHOLD DELHAIZE NV704,915.00 17,672,219.05 2.34EUR

KONINKLIJKE KPN NV1,415,133.00 3,727,460.32 0.49EUR

KONINKLIJKE VOPAK155,299.00 5,947,951.70 0.79EUR

ROYAL PHILIPS NV97,631.00 4,079,999.49 0.54EUR

STELLANTIS N.V.-BEARER & REGISTERED SHS178,021.00 2,946,959.63 0.39EUR

WOLTERS KLUWER NV149,814.00 12,692,242.08 1.68EUR

ADMIRAL GROUP PLC142,453.00 5,217,219.78 0.69GBPUnited Kingdom 99,882,766.82 13.21

ASTRAZENECA PLC67,838.00 6,861,638.46 0.91GBP

BAE SYSTEMS PLC664,768.00 4,042,272.65 0.53GBP

CRODA INTL - REGISTERED SHS117,350.00 10,072,046.13 1.33GBP

DIRECT LINE INS GR PLC NI1,778,491.00 5,904,478.25 0.78GBP

GLAXOSMITHKLINE PLC924,213.00 15,281,355.14 2.02GBP

NATIONAL GRID PLC988,346.00 10,601,304.64 1.40GBP

PRIMARY HEALTH PROPERTIES PLC REIT1,668,744.00 2,991,667.56 0.40GBP

RECKITT BENCKISER GROUP PLC121,788.00 9,075,401.43 1.20GBP

SEVERN TRENT PLC181,971.00 5,301,525.67 0.70GBP

SSE PLC224,783.00 3,929,021.98 0.52GBP

TESCO --- REGISTERED SHS3,663,608.00 9,514,839.58 1.26GBP

UNILEVER110,537.00 5,456,659.01 0.72EUR

VODAFONE GROUP PLC3,985,444.00 5,633,336.54 0.75GBP




% of netassets

Market value


120Page

NATIXIS LCR ACTIONS EURO I644.00 8,774,538.64 1.16EUR



Luxembourg 8,774,538.64 1.16





% of netassets

Market value


121Page












2,470,133.30Transaction fees 2k)Note




-64,255.74- forward foreign exchange contracts866,660.31- foreign exchange


15,628,815.51- investments8,055.15- forward foreign exchange contracts







122Page

Natixis AM Funds- Seeyond US Minvol (liquidated)


123Page





01/07/20

Natixis AM Funds - Seeyond US Minvol (liquidated)

Class SI (USD) 718.00 0.00 718.00 0.00

Class I (USD) 5.00 0.00 5.00 0.00

Statistics

Total Net Assets 0.00 8,563,194.55 9,420,861.93

30/06/1930/06/2024/11/20Period ended as at:

USD

Class SI (USD)

0.00

0.00 718.00

11,844.90

718.00

13,030.99

Number of shares


Class I (USD)

0.00

0.00 5.00

11,710.57

5.00

12,922.06

Number of shares



124Page


Natixis AM Funds - Seeyond US Minvol (liquidated)





1,771.47Domiciliation fees106.34Bank interest on overdrafts

0.07Legal fees8,706.49Transaction fees 2k)Note






-522,580.26- investments

661,975.75Increase in net assets as a result of operations-9,225,170.30Redemption capitalisation shares


8,563,194.55Net assets at the beginning of the period

0.00Net assets at the end of the period

125Page

Natixis AM Funds- Seeyond Global Minvol


126Page


38,382.69Interest receivable160,940.57Subscriptions receivable870,981.10Dividends receivable



647,327.11Liabilities35,269.45Bank overdrafts57,051.97Redemptions payable




Expressed in EUR


Natixis AM Funds - Seeyond Global Minvol





01/07/20

Class M/D (EUR) 3,659.03 94.35 452.45 3,300.93

Class SI (EUR) (**) 17,800.00 0.00 17,800.00 0.00

Class N1 (EUR) (*) 54,726.63 0.00 54,726.63 0.00

Class I (EUR) 4,108.04 95.49 1,146.02 3,057.51

Class I (EUR) - Distribution 114,800.00 799.58 14,600.00 100,999.58

Class I (H-USD) 101.64 0.00 55.69 45.95

Class N (EUR) 33,276.91 228.57 31,795.52 1,709.96

Class R (EUR) 1,522,882.82 208,443.39 368,396.17 1,362,930.04


Class R (H-USD) 1,228.92 0.00 0.00 1,228.92


127Page





01/07/20


Class RE (EUR) 3,484.55 403.10 2,924.43 963.22


128Page

Statistics


(*) Closed on 28/06/21.(**) Closed on 25/02/21.(***) Launched on 11/03/20 and closed on 30/04/20.

Total Net Assets 409,482,397.80 438,900,401.66 474,802,011.36

30/06/1930/06/2030/06/21Year ending as at:

EUR

Class M/D (EUR)

15,715.26

3,300.93 3,659.03

14,326.13

4,725.96

15,552.67

Number of shares


Class SI (EUR) (**)

0.00

0.00 17,800.00

103.49

81,539.28

109.98

Number of shares


Class N1 (EUR) (*)

0.00

0.00 54,726.63

97.56

87,548.44

104.04

Number of shares


Class I (EUR)

22,095.55

3,057.51 4,108.04

19,787.52

6,100.81

21,093.28

Number of shares



117.68

100,999.58 114,800.00

107.26

114,800.00

116.47

Number of shares


Class I (H-USD)

20,704.12

45.95 101.64

18,388.28

56.51

19,129.54

Number of shares


Class N (EUR)

111.15

1,709.96 33,276.91

99.67

6,426.19

106.40

Number of shares


Class R (EUR)

202.74

1,362,930.04 1,522,882.82

183.55

1,207,685.14

197.80

Number of shares



107.32

5,558.69 7,145.57

97.75

2,502.00

106.18

Number of shares


Class R (H-USD)

126.86

1,228.92 1,228.92

113.91

3,266.34

119.70

Number of shares


Class RE (EUR)

114.80

963.22 3,484.55

104.66

366.61

113.59

Number of shares


Class RE (EUR) - Distribution (***)

0.00

0.00 0.00

0.00

0.00

0.00

Number of shares



129Page

MEDIBANK PRIVATE LTD993,973.00 1,988,386.47 0.49AUD


Shares 396,757,690.73 96.89

Australia 1,988,386.47 0.49

COLRUYT36,616.00 1,726,810.56 0.42EURBelgium 2,858,246.34 0.70

TELENET GROUP HOLDING NV35,647.00 1,131,435.78 0.28EUR

CHINA RESOURCES326,467.00 1,651,920.54 0.40HKDBermuda 4,404,004.20 1.08

CK INFRASTRUCTURE HOLDINGS LTD547,415.00 2,752,083.66 0.68HKD

AGNICO EAGLE MINES LTD47,614.00 2,430,470.17 0.59CADCanada 20,746,783.19 5.07

DOLLARAMA INC72,669.00 2,807,789.62 0.69CAD

ENBRIDGE INC51,207.00 1,730,611.79 0.42CAD

METRO -A- SUB VTG35,335.00 1,430,002.76 0.35CAD

OPEN TEXT48,476.00 2,078,014.44 0.51CAD

QUEBECOR -B- SUBORD.VOTING131,557.00 2,961,712.24 0.72CAD

ROYAL BANK OF CANADA23,952.00 2,048,438.32 0.50CAD

TMX GR LTD36,597.00 3,263,201.35 0.80CAD

WASTE CONNECTIONS INC19,825.00 1,996,542.50 0.49USD

CHINA CONCH VENTURE HOLDINGS LTD1,009,000.00 3,582,637.49 0.87HKDCayman Islands 8,781,077.04 2.14

HKT LTD - STAPLED SECURITY4,525,050.00 5,198,439.55 1.27HKD

AGRICULTURAL BANK OF CHINA -H-5,603,170.00 1,642,712.31 0.40HKDChina 5,678,542.11 1.39

CHINA YANGTZE POWER -A-618,450.00 1,665,847.72 0.41CNY

PING AN INS (GRP) CO -H-287,000.00 2,369,982.08 0.58HKD

CARLSBERG AS -B-15,886.00 2,497,325.13 0.61DKKDenmark 2,497,325.13 0.61

KONE -B-30,433.00 2,093,790.40 0.51EURFinland 2,093,790.40 0.51

AIR LIQUIDE SA27,435.00 4,051,052.10 0.99EURFrance 34,135,790.52 8.34

ALSTOM SA95,424.00 4,064,108.16 0.99EUR

AMUNDI SA23,687.00 1,761,128.45 0.43EUR

AXA SA113,176.00 2,420,268.76 0.59EUR

CAPGEMINI SE16,687.00 2,703,294.00 0.66EUR

CARREFOUR SA139,591.00 2,315,116.74 0.57EUR

ENGIE SA163,337.00 1,887,195.70 0.46EUR

SANOFI56,162.00 4,962,474.32 1.22EUR

TELEPERFORMANCE SE8,314.00 2,845,882.20 0.69EUR


VIVENDI SA100,719.00 2,853,369.27 0.70EUR

WORLDLINE SA23,905.00 1,887,060.70 0.46EUR

DEUTSCHE BOERSE AG REG SHS16,826.00 2,476,787.20 0.60EURGermany 24,284,376.81 5.93

DEUTSCHE POST AG REG SHS32,375.00 1,857,030.00 0.45EUR

DEUTSCHE TELEKOM AG REG SHS287,640.00 5,123,443.68 1.26EUR

E.ON SE281,751.00 2,748,199.25 0.67EUR

HANNOVER RUECK SE13,462.00 1,899,488.20 0.46EUR

LEG IMMOBILIEN - NAMEN AKT17,160.00 2,084,082.00 0.51EUR

RWE AG81,423.00 2,488,286.88 0.61EUR

SCOUT2449,191.00 3,498,463.92 0.86EUR

SIEMENS HEALTHINEERS40,801.00 2,108,595.68 0.51EUR

POWER ASSETS HOLDINGS919,411.00 4,757,037.21 1.16HKDHong Kong 9,581,142.75 2.34

THE LINK REIT UNITS590,400.00 4,824,105.54 1.18HKD

KERRY GROUP -A-24,281.00 2,860,301.80 0.70EURIreland 2,860,301.80 0.70

BANK LEUMI LE-ISRAEL (IL604611)181,917.00 1,165,624.62 0.28ILSIsrael 1,165,624.62 0.28

ASSICURAZIONI GENERALI SPA136,796.00 2,312,536.38 0.57EURItaly 10,522,047.57 2.57




% of netassets

Market value


130Page

DIASORIN10,577.00 1,687,031.50 0.41EUR

ENEL SPA190,116.00 1,488,988.51 0.36EUR

POSTE ITALIANE SPA145,545.00 1,622,826.75 0.40EUR

RECORDATI SPA46,069.00 2,220,525.80 0.54EUR

SNAM SPA244,131.00 1,190,138.63 0.29EUR

ASTELLAS PHARMA109,500.00 1,609,351.48 0.39JPYJapan 27,940,659.72 6.82

DON QUIJOTE HLD310,700.00 5,443,379.41 1.33JPY

FUJIFILM HOLDINGS CORP23,700.00 1,483,511.44 0.36JPY

MS&AD INSURANCE GROUP HOLDING73,900.00 1,801,137.41 0.44JPY

MURATA MANUFACTURING CO LTD22,300.00 1,437,047.69 0.35JPY

NINTENDO CO LTD5,600.00 2,749,305.69 0.67JPY

NIPPON TELEGRAPH AND TELEPHONE CORP120,400.00 2,647,695.83 0.65JPY

NITORI10,100.00 1,508,595.95 0.37JPY

PROLOGIS REIT674.00 1,810,161.67 0.44JPY

SHIMAMURA CORP21,000.00 1,700,765.94 0.42JPY

SHIMANO INC10,700.00 2,142,064.02 0.52JPY

TOYO SUISAN KAISHA54,000.00 1,753,872.14 0.43JPY

TSURUHA HOLDINGS INC18,900.00 1,853,771.05 0.45JPY

IHH HEALHCARE BHD2,934,986.00 3,260,896.84 0.80MYRMalaysia 10,782,476.26 2.63

MISC2,874,400.00 3,958,408.38 0.96MYR

PERLIS PLANTATIONS BHD322,000.00 1,196,880.14 0.29MYR

RHB BANK BERHAD2,157,400.00 2,366,290.90 0.58MYR

EQUINOR ASA84,680.00 1,511,724.99 0.37NOKNorway 3,849,878.89 0.94

ORKLA ASA272,071.00 2,338,153.90 0.57NOK

JERONIMO MARTINS SGPS SA251,396.00 3,866,470.48 0.94EURPortugal 3,866,470.48 0.94

SINGAPORE EXCHANGE LTD640,000.00 4,488,551.53 1.09SGDSingapore 12,712,324.22 3.10

SINGAPORE TECHNOLOGIES ENGINEERING1,298,000.00 3,151,157.39 0.77SGD

SINGAPORE TELECOM - SH BOARD LOT 1000997,745.00 1,433,307.85 0.35SGD

VENTURE CORPORATION LIMITED302,000.00 3,639,307.45 0.89SGD

SAMSUNG ELECTRONICS CO LTD33,305.00 2,012,512.83 0.50KRWSouth Korea 5,559,481.45 1.36

SK TELEKOM6,524.00 1,563,218.25 0.38KRW

S1 CORP32,348.00 1,983,750.37 0.48KRW

ENDESA113,171.00 2,315,478.66 0.56EURSpain 4,513,518.94 1.10

RED ELECTRICA140,405.00 2,198,040.28 0.54EUR

BARRY CALLEBAUT - NAMEN-AKT1,458.00 2,859,605.91 0.70CHFSwitzerland 17,343,647.21 4.24

NESTLE SA REG SHS34,040.00 3,577,895.27 0.87CHF

NOVARTIS AG REG SHS42,201.00 3,246,112.32 0.79CHF

ROCHE HOLDING LTD8,829.00 2,807,286.95 0.69CHF

SIKA - REGISTERED SHS8,240.00 2,273,855.13 0.56CHF

SWISS PRIME SITE AG-NAMEN AKT30,795.00 2,578,891.63 0.63CHF

CHICONY ELECTRONICS1,027,907.00 2,501,160.57 0.61TWDTaiwan 17,242,374.86 4.21

INVENTEC CORPORATION2,321,000.00 1,843,894.84 0.45TWD

LITE-ON TECHNOLOGY CORP864,000.00 1,506,148.96 0.37TWD

POWERTECH TECHNOLOGY INC377,061.00 1,226,737.89 0.30TWD

SYNNEX TECHNOLOGY INTERNATIONAL CORP1,214,000.00 1,870,114.38 0.46TWD

TAIWAN MOBILE844,691.00 2,607,532.56 0.64TWD

TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD150,395.00 2,708,208.30 0.66TWD

WPG HOLDING1,926,000.00 2,978,577.36 0.72TWD

ADVANCED INFO SERV.UNITS NON VOTING D.R.351,600.00 1,581,862.81 0.39THBThailand 1,581,862.81 0.39

AKZO NOBEL NV18,708.00 1,949,373.60 0.48EURThe Netherlands 13,419,416.45 3.28

KONINKLIJKE AHOLD DELHAIZE NV83,265.00 2,087,453.55 0.51EUR

KONINKLIJKE VOPAK67,176.00 2,572,840.80 0.63EUR

QIAGEN REGD EUR121,693.00 4,960,206.68 1.21EUR

ROYAL PHILIPS NV44,258.00 1,849,541.82 0.45EUR




% of netassets

Market value


131Page

ASTRAZENECA PLC22,823.00 2,308,487.49 0.56GBPUnited Kingdom 11,799,953.31 2.88

DIRECT LINE INS GR PLC NI576,332.00 1,913,385.99 0.47GBP

GLAXOSMITHKLINE PLC160,442.00 2,652,820.49 0.65GBP

RECKITT BENCKISER GROUP PLC21,049.00 1,568,529.94 0.38GBP

TESCO --- REGISTERED SHS606,290.00 1,574,609.54 0.38GBP

VODAFONE GROUP PLC1,260,805.00 1,782,119.86 0.44GBP

ABBVIE INC35,332.00 3,355,929.24 0.82USDUnited States of America 134,548,187.18 32.85

ACTIVISION BLIZZARD24,399.00 1,963,606.17 0.48USD

AKAMAI TECHNOLOGIES20,801.00 2,045,194.87 0.50USD

ALPHABET INC -C-1,235.00 2,610,089.55 0.64USD

AMAZON.COM INC1,040.00 3,016,920.82 0.74USD

AMERICAN ELECTRIC POWER CO INC28,245.00 2,014,709.97 0.49USD

APPLE INC30,269.00 3,495,777.25 0.85USD

BECTON DICKINSON19,235.00 3,944,480.69 0.96USD

BRISTOL-MYERS SQUIBB CO77,062.00 4,342,088.57 1.06USD

BROADRIDGE FINANCIAL SOL -W/I29,966.00 4,081,632.50 1.00USD

CABOT OIL AND GAS CORP -A-85,588.00 1,260,111.71 0.31USD

CAMPBELL SOUP CO39,029.00 1,500,406.54 0.37USD

CLOROX CO18,816.00 2,854,529.52 0.70USD

DANAHER CORP11,905.00 2,694,009.44 0.66USD

DOLLAR GENERAL11,878.00 2,167,366.91 0.53USD

DOLLAR TREE INC48,426.00 4,063,063.50 0.99USD

DOMINION RESOURCES - REGISTERED22,871.00 1,418,854.43 0.35USD

DOMINO PIZZA INC16,123.00 6,342,202.77 1.55USD

ELECTRONIC ARTS - REGISTERED27,338.00 3,315,645.96 0.81USD

EXTRA SPACE STORAGE INC13,458.00 1,859,085.56 0.45USD

FEDEX CORP12,269.00 3,086,441.33 0.75USD

GILEAD SCIENCES INC77,493.00 4,499,677.86 1.10USD

HERSHEY11,630.00 1,708,165.44 0.42USD

KELLOGG CO85,524.00 4,639,311.00 1.13USD

KEURIG DR PEPPR --- REGISTERED SHS53,239.00 1,582,040.95 0.39USD

KROGER CO78,052.00 2,521,436.98 0.62USD

MCDONALD'S CORP12,186.00 2,373,593.17 0.58USD

MERCK & CO INC56,683.00 3,717,207.95 0.91USD

MICROSOFT CORP13,903.00 3,175,919.30 0.78USD

NEWMONT CORPORATION41,960.00 2,242,537.14 0.55USD

NEXTERA ENERGY26,975.00 1,666,858.93 0.41USD

NORTONLIFELOCK INC67,396.00 1,546,942.51 0.38USD

PEPSICO INC16,136.00 2,016,081.56 0.49USD

PROCTER & GAMBLE CO18,857.00 2,145,522.40 0.52USD

PUBLIC STORAGE INC22,966.00 5,823,127.19 1.42USD

REGENERON PHARMACEUTICALS INC5,680.00 2,675,189.48 0.65USD

TAKE TWO INTERACTIVE SOFTWARE INC36,881.00 5,505,248.86 1.34USD

THE WESTERN UNION COMPANY126,364.00 2,447,576.59 0.60USD

THERMO FISHER SCIENT SHS11,350.00 4,828,176.49 1.18USD

TYSON FOODS INC -A-28,634.00 1,780,962.85 0.43USD

VERIZON COMMUNICATIONS INC205,374.00 9,703,267.75 2.36USD

WALMART INC54,806.00 6,517,195.48 1.58USD

SEEYOND EUROPE MINVOL I A EUR CAP183.39 4,206,950.96 1.03EUR



Luxembourg 4,206,950.96 1.03





% of netassets

Market value


132Page















-87,646.09- forward foreign exchange contracts-11,956,582.86- foreign exchange


5,728,244.90- investments7,294.99- forward foreign exchange contracts







133Page

Natixis AM Funds- Seeyond Volatility Strategy (formerly Seeyond Equity

Volatility Strategies)


134Page


35,318.38Unrealised profit on the securities portfolio3,757,182.10Options purchased at market value 2d)Note3,749,090.20Options purchased at cost1,769,455.20Cash at banks and liquidities

33.75Interest receivable10,526.22Subscriptions receivable5,280.20Other assets

1,812,987.14Liabilities268,845.21Options sold at market value 2d)Note433,970.31Options sold at cost

1,184,248.04Bank overdrafts4,485.67Redemptions payable






Expressed in EURStatement of net assets as at 30/06/21

Natixis AM Funds - Seeyond Volatility Strategy (formerly Seeyond Equity VolatilityStrategies)





01/07/20

Class I (EUR) 231.40 20.42 23.54 228.28

Class R (EUR) 1,774.87 1,737.48 1,339.52 2,172.83

Class R (H-SGD) 19,357.50 299,791.15 289,633.75 29,514.90

Class R (H-USD) 3,542.00 10,309.16 11,192.21 2,658.95

Class NA (EUR) (*) 0.00 1,000.00 0.00 1,000.00


135Page

Statistics



Total Net Assets 12,029,741.33 12,080,643.07 21,450,194.40

30/06/1930/06/2030/06/21Year ending as at:

EUR

Class I (EUR)

37,920.13

228.28 231.40

40,379.77

570.95

35,171.08

Number of shares


Class R (EUR)

715.08

2,172.83 1,774.87

766.99

499.29

672.49

Number of shares


Class R (H-SGD)

83.01

29,514.90 19,357.50

88.39

20,707.37

75.80

Number of shares

Net asset value per share SGD

Class R (H-USD)

84.39

2,658.95 3,542.00

89.89

216.68

76.88

Number of shares


Class NA (EUR) (*)

93.11

1,000.00 0.00

0.00

0.00

0.00

Number of shares



136Page

ITAL BUON ORDI DEL ZCP 30-07-213,900,000.00 3,904,683.85 32.46EUR



Italy 3,904,683.85 32.46


UNIT STAT TREA BIL ZCP 29-07-212,700,000.00 2,276,663.42 18.93USD

OSTRUM CASH EURIBOR SICAV -R- CAP25.00 1,022,799.50 8.50EUR



France 1,022,799.50 8.50





% of netassets

Market value


137Page



50,255.10Income393.04Net interest on bonds 2i)Note

919.34Bank interest on cash account48,942.72Other income










-2,654,846.00- options405,229.47- forward foreign exchange contracts

2,130,642.39- financial futures-422,003.23- foreign exchange


95,759.35- investments282,650.27- options

-118,298.89- forward foreign exchange contracts-274,354.63- financial futures

-785,844.21Decrease in net assets as a result of operations18,850,588.21Subscription capitalisation shares


-50,901.74Decrease in net assets



138Page

Natixis AM Funds- Ostrum Global Emerging Bonds


139Page


-158,319.56Unrealised loss on the securities portfolio4,107,238.34Cash at banks and liquidities1,494,585.65Interest receivable1,260,630.23Brokers receivable

20,132.27Subscriptions receivable78,048.00Net unrealised appreciation on swaps 2e), 7, 8Note


1,012,500.05Liabilities139,271.02Bank overdrafts789,773.68Net unrealised depreciation on forward foreign exchange contracts 2b)Note





Expressed in USD


Natixis AM Funds - Ostrum Global Emerging Bonds





01/07/20

Class SI (H-EUR) 313,100.00 214,450.00 243,250.00 284,300.00

Class I (EUR) 5,808.19 12,175.00 0.00 17,983.19

Class I (H-EUR) 311.38 25.00 42.00 294.38

Class I (USD) 16.00 30.00 27.00 19.00

Class N (H-EUR) 19,841.52 12,301.95 6,483.43 25,660.04

Class R (EUR) 105.95 1,254.91 332.50 1,028.36

Class R (H-EUR) 20,849.66 1,859.67 13,193.02 9,516.31

Class R (USD) 5,710.80 5.00 343.82 5,371.98

Class SI (EUR) (*) 49,000.00 20,100.00 69,100.00 0.00


140Page

Statistics


(*) Launched on 27/09/19 and closed on 07/08/20.

Total Net Assets 117,873,207.89 120,224,991.62 145,472,724.26

30/06/1930/06/2030/06/21Year ending as at:

USD

Class SI (H-EUR)

105.96

284,300.00 313,100.00

99.60

244,700.00

101.92

Number of shares


Class I (EUR)

116.85

17,983.19 5,808.19

115.10

5,808.19

113.06

Number of shares


Class I (H-EUR)

192,327.42

294.38 311.38

181,291.55

393.84

186,049.10

Number of shares


Class I (USD)

163,513.55

19.00 16.00

152,523.69

43.00

151,897.32

Number of shares


Class N (H-EUR)

107.66

25,660.04 19,841.52

101.66

27,201.63

104.47

Number of shares


Class R (EUR)

110.14

1,028.36 105.95

109.08

1,882.84

107.68

Number of shares


Class R (H-EUR)

456.87

9,516.31 20,849.66

432.89

43,356.52

446.93

Number of shares


Class R (USD)

156.02

5,371.98 5,710.80

146.38

5,540.71

146.57

Number of shares


Class SI (EUR) (*)

0.00

0.00 49,000.00

97.28

0.00

0.00

Number of shares



141Page

ANGOLA 9.375 18-48 09/05S500,000.00 523,880.00 0.44USD



Angola 852,983.00 0.72

ANGOLA 9.50 15-25 12/11S300,000.00 329,103.00 0.28USD

ARGENTINA 0.125 20-35 09/07S1,421,730.00 452,849.43 0.38USDArgentina 1,921,757.16 1.63

ARGENTINA 0.125 20-38 09/01S1,685,826.00 638,118.86 0.54USD

ARGENTINE 1.00 20-29 09/07S240,580.00 91,336.19 0.08USD

ARGENTINE 0.125 20-30 09/07S2,052,268.00 739,452.68 0.63USD

AZERBAIDJAN 3.50 17-32 01/09S200,000.00 207,990.00 0.18USDAzerbaidjan 1,077,014.00 0.91

AZERBAIDJAN 4.75 14-24 18/03S800,000.00 869,024.00 0.73USD

BAHRAIN 5.25 21-33 25/01S300,000.00 292,746.00 0.25USDBahrain 3,585,306.00 3.04

BAHRAIN 6.00 14-44 19/09S600,000.00 572,232.00 0.49USD

BAHRAIN 7.00 16-28 12/10S1,000,000.00 1,124,790.00 0.95USD

BAHRAIN 7.00 15-26 26/01S1,400,000.00 1,595,538.00 1.35USD

BNDES REGS 4.75 17-24 09/05S500,000.00 539,725.00 0.46USDBrazil 2,864,392.00 2.43

BRAZIL 7.125 06-37 20/01S900,000.00 1,144,575.00 0.97USD

BRAZIL 4.625 17-28 13/01S400,000.00 433,780.00 0.37USD

BRAZIL 5.625 09-41 07/01S400,000.00 436,256.00 0.37USD

CENTRAIS ELETRI 4.6250 20-30 04/02S300,000.00 310,056.00 0.26USD

ALIBABA GROUP 2.7000 21-41 09/02S200,000.00 192,126.00 0.16USDCayman Islands 1,061,878.00 0.90

ALIBABA GROUP 3.60 15-24 28/11S800,000.00 869,752.00 0.74USD

CODELCO 4.875 14-44 04/11S1,200,000.00 1,481,208.00 1.26USDChile 3,625,474.00 3.08

EMPRESA NACIONAL 5.2500 18-29 06/11S400,000.00 446,932.00 0.38USD

REPUBLIC OF CHI 2.5500 20-32 27/01S700,000.00 716,541.00 0.61USD

REPUBLIC OF CHILE 3.24 18-28 02/02S900,000.00 980,793.00 0.83USD

CHINA 1.200 20-30 21/10S1,000,000.00 966,180.00 0.82USDChina 966,180.00 0.82

COLOMBIA 3.875 17-27 25/04S1,000,000.00 1,062,990.00 0.90USDColombia 3,503,058.00 2.97

COLOMBIA 3.0 20-30 30/01Q600,000.00 588,720.00 0.50USD

COLOMBIA 6.125 09-41 18/01S1,200,000.00 1,423,044.00 1.21USD

ECOPETROL SA 5.875 14-45 28/05S400,000.00 428,304.00 0.36USD

COSTA RICA REGS 7.000 14-44 04/04S600,000.00 621,744.00 0.53USDCosta Rica 1,549,797.00 1.31

COSTA RICA 4.375 13-25 30/04S900,000.00 928,053.00 0.78USD

DOMINICAN REPUBLIC 4.875 20-32 23/09S600,000.00 621,102.00 0.53USDDominican Republic 4,254,313.00 3.61




DOMINICAN REPUBLIC 5.95 17-27 25/01S1,000,000.00 1,127,590.00 0.96USD


ECUADOR 0.0 20-30 31/07S158,227.00 88,192.57 0.07USDEcuador 2,461,125.75 2.09

ECUADOR 0.5 20-30 31/07S1,064,700.00 914,013.01 0.79USD

ECUADOR 0.5 20-35 31/07S900,000.00 618,408.00 0.52USD

ECUADOR 0.50 20-40 31/07S1,349,700.00 840,512.17 0.71USD

EGYPT 3.875 21-26 16/02500,000.00 492,790.00 0.42USDEgypt 4,280,291.00 3.63

EGYPT 5.25 20-25 06/10S1,100,000.00 1,162,458.00 0.98USD

EGYPT 5.875 21-31 16/02S200,000.00 194,430.00 0.16USD

EGYPT 7.053 19-32 15/01S500,000.00 513,910.00 0.44USD

EGYPT 7.50 17-27 31/01S600,000.00 675,684.00 0.57USD

EGYPT 8.15 19-59 20/11S300,000.00 300,726.00 0.26USD

EGYPT 8.50 17-47 31/01S900,000.00 940,293.00 0.80USD




% of netassets

Market value


142Page

EL SALVADOR 5.875 12-25 30/01S700,000.00 651,301.00 0.55USDEl Salvador 1,109,764.00 0.94

EL SALVADOR 6.375 14-27 18/01S300,000.00 273,801.00 0.23USD

EL SALVADOR 7.65 05-35 15/06S200,000.00 184,662.00 0.16USD

GEORGIAN RAILWAY 4 21-28 17/06S200,000.00 202,544.00 0.17USDGeorgia 202,544.00 0.17

GHANA 6.375 20-27 11/02S700,000.00 705,600.00 0.60USDGhana 2,199,486.00 1.87

GHANA 8.125 19-32 26/03S900,000.00 914,598.00 0.78USD

GHANA 8.6270 18-49 16/06S600,000.00 579,288.00 0.49USD

GUATEMALA 4.375 17-27 05/06S200,000.00 218,596.00 0.19USDGuatemala 443,738.00 0.38

GUATEMALA 4.90 19-30 01/06S200,000.00 225,142.00 0.19USD

HONDURAS 6.25 17-27 19/01S250,000.00 273,862.50 0.23USDHonduras 273,862.50 0.23

BHARTI AIRTEL LTD 4.375 15-25 10/06S500,000.00 546,155.00 0.46USDIndia 1,487,531.00 1.26

EXP IMP BANK INDI REGS 3.37516-25 05/08S500,000.00 534,480.00 0.45USD

INDIAN RAILWAY FIN 3.249 20-30 13/02S400,000.00 406,896.00 0.35USD

INDONESIA 4.35 16-27 08/01S1,400,000.00 1,587,334.00 1.36USDIndonesia 6,221,374.57 5.29

INDONESIA 3.70 19-49 30/10S400,000.00 420,236.00 0.36USD

INDONESIA 3.8500 20-30 15/10S700,000.00 780,815.00 0.66USD

INDONESIA 6.5 20-31 15/02S9,000,000,000.00 618,051.57 0.52IDR

INDONESIA 6.625 07-37 17/02S800,000.00 1,105,368.00 0.94USD

PERTAMINA 6.00 12-42 03/05S1,000,000.00 1,229,510.00 1.04USD

PT PERTAMINA 2.3000 21-31 09/02S500,000.00 480,060.00 0.41USD

IVORY COAST 6.125 17-33 15/06S400,000.00 423,092.00 0.36USDIvory Coast 975,727.00 0.83

IVORY COAST REGS 6.375 15-28 03/03S500,000.00 552,635.00 0.47USD

JAMAICA 6.75 15-28 28/04S600,000.00 704,400.00 0.60USDJamaica 1,404,725.00 1.19

JAMAICA 7.875 15-45 28/07S500,000.00 700,325.00 0.59USD

DEV BK KAZAK 2.95 21-31 06/05S400,000.00 398,700.00 0.34USDKazakhstan 2,101,463.00 1.78

KAZAKHSTAN 6.95 12-42 10/07S600,000.00 827,184.00 0.70USD

KAZAKSTAN 5.125 15-25 21/07S500,000.00 582,045.00 0.49USD

KAZAKSTAN 6.50 15-45 21/07S200,000.00 293,534.00 0.25USD

KENYA 6.875 14-24 24/06S400,000.00 440,920.00 0.37USDKenya 993,885.00 0.84

KENYA 7.25 18-28 28/02S300,000.00 332,205.00 0.28USD

KENYA 8.25 18-48 28/02S200,000.00 220,760.00 0.19USD

LEBANON 6.00 12-23 27/01S DEF1,000,000.00 130,560.00 0.11USDLebanon 313,246.00 0.27

LEBANON 6.85 17-27 23/03S1,400,000.00 182,686.00 0.16USD

PETRONAS CAPITAL LTD 3.50 15-25 18/03S500,000.00 542,285.00 0.46USDMalaysia 2,329,829.00 1.98

PETRONAS CAPITAL LTD 3.5000 20-30 21/04S400,000.00 438,020.00 0.37USD

PETRONAS CAPITAL REGS 4.50 15-45 18/03S1,100,000.00 1,349,524.00 1.15USD

CEMEX SAB DE CV 5.45 19-29 19/11S200,000.00 220,354.00 0.19USDMexico 6,729,777.24 5.72

CEMEX SAB DE CV 7.375 20-27 05/06S800,000.00 902,904.00 0.77USD

MEXICO 4.15 17-27 28/03S300,000.00 339,774.00 0.29USD

MEXICO 6.05 07-40 11/01S500,000.00 628,745.00 0.53USD

PEMEX 4.50 16-26 23/01S1,060,000.00 1,075,348.80 0.91USD

PEMEX 6.50 11-41 02/06S600,000.00 540,174.00 0.46USD

PEMEX 7.69 20-50 23/01S1,574,000.00 1,516,643.44 1.29USD

PETROLEOS MEXICANOS 5.95 20-31 28/01S1,000,000.00 972,650.00 0.83USD

UTD MEXICAN STS EMTN 6.75 04-34 27/09S400,000.00 533,184.00 0.45USD

KAZMUNAYGAS 4.75 17-27 19/04S600,000.00 686,772.00 0.58USDMicronesian Islands 686,772.00 0.58

DEV BK MONGOLIA 7.25 18-23 23/10S300,000.00 324,684.00 0.28USDMongolia 998,656.00 0.85

MONGOLIA 5.125 20-26 07/04S200,000.00 213,756.00 0.18USD




% of netassets

Market value


143Page

MONGOLIA 8.75 17-24 09/03S400,000.00 460,216.00 0.39USD


OCP SA 6.875 14-44 25/04S200,000.00 244,524.00 0.21USD

NIGERIA 6.50 17-27 28/11S900,000.00 956,286.00 0.81USDNigeria 2,866,554.00 2.43

NIGERIA 7.143 18-30 23/02S500,000.00 528,530.00 0.45USD

NIGERIA 7.6250 18-25 21/11S300,000.00 339,135.00 0.29USD

NIGERIA 7.696 18-38 23/02S700,000.00 718,669.00 0.61USD

NIGERIA 7.875 17-32 16/02S300,000.00 323,934.00 0.27USD

OMAN 4.75 16-26 15/06S1,300,000.00 1,351,025.00 1.15USDOman 3,215,315.00 2.73

OMAN 5.375 17-27 08/03S900,000.00 949,104.00 0.81USD

OMAN 6.50 17-47 08/03S700,000.00 686,322.00 0.58USD

OMAN 7.375 20-3228/10S200,000.00 228,864.00 0.19USD

PARAGUAY 5.00 16-26 15/04S300,000.00 341,784.00 0.29USDParaguay 963,984.00 0.82

PARAGUAY 6.10 14-44 11/08S500,000.00 622,200.00 0.53USD

PERU 4.125 15-27 25/08S300,000.00 336,396.00 0.29USDPeru 2,915,145.00 2.47

PERU 5.625 10-50 18/11S600,000.00 827,700.00 0.69USD

PERU (REP OF) 7.35 05-25 21/07S500,000.00 614,030.00 0.52USD

PERU 2.7830 20-31 23/01S600,000.00 611,634.00 0.52USD

PETROLEOS DEL PERU 4.75 17-32 19/06S500,000.00 525,385.00 0.45USD

PHILIPPINES 3.00 18-28 01/02S1,400,000.00 1,512,994.00 1.29USDPhilippines 2,625,654.00 2.23

PHILIPPINES REP OF 3.95 15-40 20/01S1,000,000.00 1,112,660.00 0.94USD

QATAR 4.00 19-29 14/03S900,000.00 1,037,889.00 0.88USDQatar 3,273,401.00 2.78

QATAR 4.40 20-50 16/04S200,000.00 243,880.00 0.21USD

QATAR 4.625 16-46 02/06S1,600,000.00 1,991,632.00 1.69USD

ROMANIA 3.0 20-31 14/02S600,000.00 622,764.00 0.53USDRomania 1,307,474.00 1.11

ROMANIA 6.125 14-44 22/01S500,000.00 684,710.00 0.58USD

RUSSIA 5.625 12-42 04/04S800,000.00 1,028,152.00 0.87USDRussia 1,922,760.00 1.63

RUSSIAN FEDERATION 4.25 17-27 23/06S800,000.00 894,608.00 0.76USD

SAUDI ARABIAN OIL COM 3.25 20-50 24/11S600,000.00 585,804.00 0.50USDSaudi Arabia 2,397,341.00 2.03

SAUDI ARABIAN OIL COM 4.375 19-49 16/04S500,000.00 576,845.00 0.49USD

SAUDI INTERNATI 2.7500 20-32 03/02S1,200,000.00 1,234,692.00 1.04USD

SENEGAL 6.75 18-48 13/03S200,000.00 202,548.00 0.17USDSenegal 519,519.00 0.44

SENEGAL 6.25 17-33 23/05S300,000.00 316,971.00 0.27USD

SERBIA 2.125 20-30 01/12S200,000.00 189,822.00 0.16USDSerbia 189,822.00 0.16

SOUTH AFRICA 4.30 16-28 12/10S1,000,000.00 1,034,410.00 0.88USDSouth Africa 3,743,338.50 3.18

SOUTH AFRICA 5.875 13-25 16/09S1,100,000.00 1,243,583.00 1.06USD

SOUTH AFRICA 6.25 11-41 08/03A900,000.00 991,197.00 0.84USD

SOUTH AFRICA 8.75 12-48 28/02S8,000,000.00 474,148.50 0.40ZAR

SRI LANKA 5.875 12-22 25/07S300,000.00 256,500.00 0.22USDSri Lanka 1,510,156.00 1.28

SRI LANKA 6.85 15-25 03/11S1,000,000.00 677,620.00 0.57USD

SRI LANKA 7.8500 19-29 14/03S900,000.00 576,036.00 0.49USD

ANGOLA 8.2500 18-28 09/05S700,000.00 732,389.00 0.62USDSwitzerland 732,389.00 0.62

PETROBRAS GLOBA 5.5000 21-51 10/06S400,000.00 400,372.00 0.34USDThe Netherlands 960,552.00 0.81

PETROBRAS GLOBAL FIN 5.6 20-31 30/01S500,000.00 560,180.00 0.47USD

TURKEY 5.75 17-47 11/05S700,000.00 598,528.00 0.51USDTurkey 4,056,377.00 3.44

TURKEY 7.625 19-29 26/04S700,000.00 767,837.00 0.65USD

TURKEY 3.25 13-23 23/03S800,000.00 800,160.00 0.68USD




% of netassets

Market value


144Page

TURKEY 6.00 17-27 25/03S1,000,000.00 1,023,300.00 0.86USD

TURKEY 7.375 05-25 05/02S800,000.00 866,552.00 0.74USD

UKRAINE 7.375 17-32 25/09S1,100,000.00 1,159,433.00 0.98USDUkraine 3,034,703.00 2.57

UKRAINE 7.75 15-27 01/09S1,700,000.00 1,875,270.00 1.59USD

ABU DHABI 4.875 18-30 23/04S600,000.00 725,244.00 0.62USDUnited Arab Emirates 4,730,295.00 4.02

ABU DHABI GOVT 3.1250 19-49 30/09S1,200,000.00 1,226,760.00 1.05USD

ABU DHABI GVT INTERN 2.50 19-29 30/09S400,000.00 418,400.00 0.35USD

ABU DHABI PORTS CO PJSC 2.5 21-31 06/05S700,000.00 712,964.00 0.60USD

ABU DHABI REGS 3.125 16-26 03/05S1,000,000.00 1,093,600.00 0.93USD

EMIRATE OF ABU DHABI 4.125 17-47 11/10S200,000.00 238,882.00 0.20USD

MDGH GMTN RSC LTD 3.4 21-51 07/06S300,000.00 314,445.00 0.27USD

URUGUAY 4.375 15-27 27/10S300,000.00 345,630.00 0.29USDUruguay 2,980,905.00 2.53

URUGUAY 4.50 13-24 14/08S800,000.00 869,640.00 0.74USD

URUGUAY 5.10 14-50 18/06S1,000,000.00 1,312,980.00 1.12USD

URUGUAY 7.875 03-33 15/01S300,000.00 452,655.00 0.38USD

VENEZUELA 9.25 97-27 15/09S3,000,000.00 325,320.00 0.27USDVenezuela 568,499.00 0.48

VENEZUELA DEF 9.25 08-28 07/05S2,300,000.00 243,179.00 0.21USD

VIETNAM REGS 4.80 14-24 19/11S500,000.00 558,200.00 0.47USDVietnam 558,200.00 0.47

ZAMBIA 5.375 12-22 20/09S400,000.00 253,872.00 0.22USDZambia 447,066.00 0.38

ZAMBIA 8.50 14-24 14/04S300,000.00 193,194.00 0.16USD

UKRAINE FL.R 15-40 31/05A200,000.00 237,870.00 0.20USD


Ukraine 237,870.00 0.20

ALPARGATAS SAIC 0.00 05-10 15/03A300,375.00 0.03 0.00USD



Argentina 1.53 0.00

BANCO MAYO COOP 9.125 97-99 30/06S1,500,000.00 1.50 0.00USD

GHANA 7.75 21-29 07/04S500,000.00 512,245.00 0.43USDGhana 512,245.00 0.43

GAZPROM 2.95 21-29 27/01S800,000.00 785,544.00 0.67USDLuxembourg 785,544.00 0.67

QATAR 3.25 16-26 02/06S1,300,000.00 1,424,579.00 1.21USDQatar 1,424,579.00 1.21

SAUDI ARABIA 4.50 16-46 26/10S600,000.00 704,556.00 0.60USDSaudi Arabia 2,495,506.00 2.12

SAUDI ARABIAN OIL COM 2.875 19-24 16/04S1,700,000.00 1,790,950.00 1.52USD

ASIA PAC FIBERS FL.R 06-20 15/0235,530.00 0.36 0.00USD

Floating rate notes 0.36 0.00

Indonesia 0.36 0.00





% of netassets

Market value


145Page









2,834.48Domiciliation fees5,587.00Professional fees6,306.84Bank interest on overdrafts


89,489.44Interest on swaps43,936.88Other expenses



6,471,295.68- forward foreign exchange contracts125,794.43- financial futures

-137,757.73- swaps-8,347.22- foreign exchange


5,237,700.73- investments-841,155.90- forward foreign exchange contracts-14,751.25- financial futures78,048.00- swaps






146Page

Natixis AM Funds- DNCA Global Emerging Equity (formerly Ostrum

Global Emerging Equity)


147Page

375,627,896.28Assets366,016,961.13Securities portfolio at market value 2a)Note263,141,669.22Cost price102,875,291.91Unrealised profit on the securities portfolio

9,455,587.20Cash at banks and liquidities9,697.73Subscriptions receivable

145,650.22Dividends receivable

770,648.88Liabilities367,817.76Brokers payable32,973.36Redemptions payable




Expressed in EURStatement of net assets as at 30/06/21

Natixis AM Funds - DNCA Global Emerging Equity (formerly Ostrum Global EmergingEquity)





01/07/20

Class M (EUR) 1,154.34 147.12 136.49 1,164.97

Class I (EUR) 15,588.27 1,782.74 1,063.88 16,307.13

Class R (EUR) 99.52 520.70 76.40 543.82


148Page

Statistics


Total Net Assets 374,857,247.40 283,181,429.53 261,337,305.98

30/06/1930/06/2030/06/21Year ending as at:

EUR

Class M (EUR)

85,360.66

1,164.97 1,154.34

66,774.30

1,193.96

67,674.50

Number of shares


Class I (EUR)

16,883.96

16,307.13 15,588.27

13,220.76

13,459.14

13,412.13

Number of shares


Class R (EUR)

156.55

543.82 99.52

123.50

163.19

126.23

Number of shares



149Page

ITAUUNIBANCO PFD SHS1,145,000.00 5,733,947.27 1.53BRL


Shares 362,763,377.13 96.77

Brazil 13,104,886.82 3.50

TOTVS1,165,000.00 7,370,939.55 1.97BRL

ALIBABA GROUP480,000.00 11,466,420.54 3.06HKDCayman Islands 99,207,376.34 26.46

ALIBABA GROUP40,800.00 7,802,195.80 2.08USD

GDS HOLDINGS -A- ADR REP 8 SHS-A-71,500.00 4,732,300.36 1.26USD

KINGDEE INTL SOFTWARE GROUP CO1,660,000.00 4,749,552.09 1.27HKD

LI NING CO646,000.00 6,649,742.11 1.77HKD

MEITUAN - SHS 114A/REG S279,000.00 9,706,455.29 2.59HKD

NIU TECHNOLOGIES ADR156,000.00 4,294,965.85 1.15USD

SEA -A- ADR REPR1 SHS31,000.00 7,178,176.91 1.91USD

SHENZHOU INTERNATIONAL GROUP309,000.00 6,579,608.01 1.76HKD

STONECO LTD108,000.00 6,107,159.12 1.63USD

TENCENT HOLDINGS LTD385,900.00 24,470,991.91 6.52HKD

WUXI BIOLOGICS354,000.00 5,469,808.35 1.46HKD

ANGEL YEAST CO LTD -A-812,854.00 5,768,631.02 1.54CNYChina 51,956,955.27 13.86

ESTUN AUTO - SHS -A-305,050.00 1,554,580.01 0.41CNY

HAIER SMART HOME CO LTD - REG SHS -H-1,690,000.00 4,973,016.99 1.33HKD

HUNDSUN TECH-A-485,973.00 5,914,009.15 1.58CNY

INNER MONGOLIA YI LI INDUSTRY CO LTD -A-1,152,260.00 5,538,258.41 1.48CNY

JIANGSU HENGRUI PHARMACEUTICALS CO517,015.00 4,586,077.86 1.22CNY

KWEICHOW MOUTAI CO LTD28,852.00 7,744,045.26 2.07CNY

PING AN INS (GRP) CO -H-790,000.00 6,523,644.06 1.74HKD

WUXI APP TEC CO LTD A457,767.00 9,354,692.51 2.49CNY

HEADHUNTER GROUP17,324.00 618,954.28 0.17USDCyprus 618,954.28 0.17

DELIVERY HERO51,092.00 5,691,648.80 1.52EURGermany 5,691,648.80 1.52

AIA GROUP LTD819,000.00 8,581,736.25 2.29HKDHong Kong 8,581,736.25 2.29

APOLLO HOSPITALS178,000.00 7,309,679.92 1.95INRIndia 52,768,027.48 14.07

BAJAJ FINANCE LTD98,000.00 6,688,224.74 1.78INR

EICHER MOTORS - REGISTERED SHS164,000.00 4,969,696.97 1.33INR

HAVELLS INDIA LTD503,000.00 5,593,330.30 1.49INR

HOUSING DEVELOPMENT FINANCE CORP385,000.00 10,811,042.68 2.88INR

SBI CARDS & PAYMENT SERVICES LTD600,000.00 6,605,258.55 1.76INR

TATA CONSULT.SERVICES SVS DEMATERIALISED238,236.00 9,042,502.94 2.41INR

VARUN BEVERAGES LTD211,223.00 1,748,291.38 0.47INR

BANK CENTRAL ASIA DEP3,571,000.00 6,256,058.80 1.67IDRIndonesia 6,256,058.80 1.67

SAFARICOM17,726,830.00 5,742,303.40 1.53KESKenya 5,742,303.40 1.53

GLOBANT REG SHS28,664.00 5,297,727.90 1.41USDLuxembourg 5,297,727.90 1.41

FOMENTO ECONOMICO UNITS 1 SH-B- 4 SHS-D-930,000.00 6,622,136.77 1.77MXNMexico 6,622,136.77 1.77

SBERBANK ADR 4 SHS739,946.00 10,360,741.49 2.76USDRussia 10,360,741.49 2.76

NASPERS -N-30,000.00 5,311,811.45 1.42ZARSouth Africa 5,311,811.45 1.42

DOUZONE BIZON CO LTD88,000.00 5,469,107.37 1.46KRWSouth Korea 32,419,058.67 8.65

KAKAO52,600.00 6,419,911.38 1.71KRW

LG CHEM9,300.00 5,919,125.65 1.58KRW

NAVER28,450.00 8,893,944.92 2.37KRW

NCSOFT9,311.00 5,716,969.35 1.53KRW

MEDIA TEK INCORPORATION290,000.00 8,443,155.18 2.25TWDTaiwan 40,604,197.97 10.83




% of netassets

Market value


150Page

TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD1,786,000.00 32,161,042.79 8.58TWD

ASML HOLDING NV15,800.00 9,154,520.00 2.45EURThe Netherlands 13,032,376.48 3.48

YANDEX NV65,000.00 3,877,856.48 1.03USD

MERCADOLIBRE3,949.00 5,187,378.96 1.38USDUnited States of America 5,187,378.96 1.38

CHINA ANIMAL HEALTHCARE LTD670,000.00 0.00 0.00HKD

Other transferable securities 0.00 0.00

Shares 0.00 0.00

Bermuda 0.00 0.00

DNCA INVEST-SUS.CHINA EQUITY30,000.00 3,253,584.00 0.87EUR



France 3,253,584.00 0.87





% of netassets

Market value


151Page








2,250.00Domiciliation fees10,175.07Professional fees27,140.39Bank interest on overdrafts





0.04- forward foreign exchange contracts-10,913,873.83- foreign exchange


65,806,626.91- investments






152Page

Natixis AM Funds- DNCA Global Sport Equity Fund


153Page


931,710.78Unrealised profit on the securities portfolio285,649.19Cash at banks and liquidities214,676.69Brokers receivable

3,482.51Dividends receivable173,266.27Receivable on spot exchange

665.42Other assets


120,441.08Brokers payable173,111.69Payable on spot exchange




Expressed in USD


Natixis AM Funds - DNCA Global Sport Equity Fund





24/03/20

Class I (EUR) 0.00 30.00 0.00 30.00

Class I (USD) 0.00 30.00 0.00 30.00

Class Q (USD) 0.00 100,000.00 0.00 100,000.00

Class R (EUR) 0.00 30.00 0.00 30.00

Class R (USD) 0.00 30.00 0.00 30.00


154Page

Statistics


Total Net Assets 11,365,446.13

30/06/21Period ended as at:

USD

Class I (EUR)

113.01

30.00Number of shares


Class I (USD)

113.28



Class Q (USD)

113.51

100,000.00Number of shares


Class R (EUR)

112.77



Class R (USD)

113.04




155Page

CATAPULT GROUP INTERNATIONAL222,659.00 334,316.22 2.94AUD


Shares 10,724,097.66 94.36

Australia 334,316.22 2.94

GRUPO SBF40,059.00 305,439.42 2.69BRLBrazil 305,439.42 2.69

BRP SUBORD.VOTING WHEN ISSUED5,171.00 405,060.96 3.56CADCanada 405,060.96 3.56

HUYA SP ADR-A11,767.00 207,687.55 1.83USDCayman Islands 899,317.26 7.91

TENCENT HOLDINGS LTD4,035.00 303,436.91 2.67HKD

TOPSPORTS INTERNATIONAL HOLDING237,000.00 388,192.80 3.41HKD

BENETEAU19,670.00 311,177.55 2.74EURFrance 311,177.55 2.74

PUMA AG3,787.00 451,570.38 3.97EURGermany 451,570.38 3.97

OSSUR HF23,724.00 174,982.15 1.54DKKIceland 174,982.15 1.54

SHIMANO INC1,200.00 284,890.51 2.51JPYJapan 284,890.51 2.51

MIPS AB3,361.00 289,248.28 2.54SEKSweden 1,298,424.46 11.43

MODERN TIMES GROUP -B-26,688.00 361,679.53 3.19SEK

RVCR HOLDING AB REGISTERED SHS21,592.00 198,444.87 1.75SEK

SKISTAR --- REGISTERED SHS -B-11,316.00 188,684.80 1.66SEK

THULE CORP5,869.00 260,366.98 2.29SEK

GARMIN1,150.00 166,336.00 1.46USDSwitzerland 166,336.00 1.46

ECLAT TEXTILE CO LTD6,000.00 141,265.09 1.24TWDTaiwan 270,269.39 2.38

JOHNSON HEALTH TECH CO LTD42,638.00 129,004.30 1.14TWD

ACCELL GROUP NV5,153.00 276,825.70 2.43EURThe Netherlands 469,817.62 4.13

BASIC-FIT NV4,513.00 192,991.92 1.70EUR

JD SPORTS FASHION PLC REG SHS35,917.00 455,982.98 4.00GBPUnited Kingdom 867,642.09 7.63

SCIENCE IN SPORT PLC97,044.00 105,237.72 0.93GBP

SMITH AND NEPHEW PLC14,196.00 306,421.39 2.70GBP

ACTIVISION BLIZZARD3,457.00 329,936.08 2.90USDUnited States of America 4,484,853.65 39.47

ACUSHNET HOLDINGS CORP3,162.00 156,202.80 1.37USD

COLOMBIA SPORTSWEAR CO4,066.00 399,931.76 3.53USD

DICK'S SPORTING GOOD INC2,099.00 210,298.81 1.85USD

ELECTRONIC ARTS - REGISTERED2,760.00 396,970.80 3.50USD

FOOT LOCKER INC6,259.00 385,742.17 3.39USD

LIBERTY MEDIA CORP -C-4,947.00 238,494.87 2.10USD

LULULEMON ATHLETICA INC SHS WHEN ISSUED1,228.00 448,183.16 3.95USD

NIKE INC2,306.00 356,253.94 3.13USD

PELOTON INTERAC - REGISTERED SHS -A-2,907.00 360,526.14 3.17USD

PLANET FITNESS INC4,293.00 323,048.25 2.84USD

SKECHERS USA -A-7,573.00 377,362.59 3.32USD

VAIL RESORTS INC502.00 158,893.04 1.40USD

VF REGISTERED4,181.00 343,009.24 3.02USD

VOGO25,619.00 258,850.99 2.28EUR

Other transferable securities 258,850.99 2.28

Shares 258,850.99 2.28

France 258,850.99 2.28





% of netassets

Market value


156Page




0.06Bank interest on cash account




189.04Domiciliation fees107.31Bank interest on overdrafts119.34Legal fees


820.65Other expenses





931,710.78- investments



0.00Net assets at the beginning of the period

11,365,446.13Net assets at the end of the period

157Page

Notes to the financial statements - Schedule of derivativeinstruments

Natixis AM Funds

158Page

OPTIONS

As at 30/06/21, the following option contracts were outstanding :

50.00 EURO STOXX 50 JUN 4250.0 17.06.22 CALL EUR 0.00 72,873.56 -14,927.56

Options on index

Listed options

Purchase of options

72,873.56 -14,927.56Total Purchase of options

Quantity DenominationCommitment

CurrencyMarket value

(in USD)(in absolute value)Unrealised

(in USD)


250.00 DJ EURO STOXX 50 SEP 3500 17.09.21 PUT EUR 1,120,615.91 -63,742.13 14,067.83

Options on index

Listed options

Sale of options

-63,742.13 14,067.83Total Sale of options

800.00 SP 500 E MINI SEP 3850.0 17.09.21 PUT USD 0.00 1,102,959.78 -2,260,728.98

Options on futures

Listed options

Purchase of options



(in EUR)(in absolute value)Unrealised

(in EUR)


1,415.00 EURO STOXX 50 SEP 4100.0 17.09.21 CALL EUR 0.00 1,226,805.00 66,505.00

Options on index

97.00 NIKKEI 225 SEP 30000 10.09.21 CALL JPY 0.00 221,085.90 -255,206.76

2,550,850.68 -2,449,430.74Total Purchase of options

400.00 SP 500 E MINI SEP 4100.0 17.09.21 PUT USD 19,745,135.34 -1,052,365.29 1,639,277.36

Options on futures

Listed options

Sale of options

-1,052,365.29 1,639,277.36Total Sale of options

960.00 SP 500 E MINI SEP 3850.0 17.09.21 PUT USD 0.00 1,323,551.73 -2,712,886.11

Options on futures

Listed options

Purchase of options




(in EUR)


1,670.00 EURO STOXX 50 SEP 4100.0 17.09.21 CALL EUR 0.00 1,447,890.00 78,490.00

Options on index

117.00 NIKKEI 225 SEP 30000 10.09.21 CALL JPY 0.00 266,670.62 -306,293.63

3,038,112.35 -2,940,689.74Total Purchase of options

Natixis AM Funds

159Page

480.00 SP 500 E MINI SEP 4100.0 17.09.21 PUT USD 23,694,162.41 -1,262,838.35 1,967,217.82

Options on futures

Listed options

Sale of options

-1,262,838.35 1,967,217.82Total Sale of options




(in EUR)


OPTIONS

804.00 EURO STOXX 50 DEC 3800.0 16.12.22 PUT EUR 0.00 2,379,840.00 130,551.00

Options on index

Listed options

Purchase of options




(in EUR)

Natixis AM Funds - Seeyond Volatility Strategy (formerly Seeyond Equity Volatility Strategies)

62.00 SP 500 DEC 3900.0 16.12.22 PUT USD 0.00 1,377,342.10 -122,459.10

3,757,182.10 8,091.90Total Purchase of options

444.00 EURO STOXX 50 AUG 4300.0 20.08.21 CALL EUR 1,515,821.33 -28,416.00 54,612.00

Options on index

Listed options

Sale of options

25.00 SP 500 AUG 4350.0 20.08.21 PUT USD 5,653,174.80 -211,969.81 108,661.9725.00 SP 500 AUG 4450.0 20.08.21 CALL USD 1,503,889.45 -28,459.40 1,851.13

-268,845.21 165,125.10Total Sale of options

Natixis AM Funds

160Page

EUR 40,082,422.00 USD 47,885,186.93 20/07/21 -334,729.53 * J.P.MORGAN AG


Currencypurchased

Maturitydate

Unrealised(in USD) Counterparty

Quantitypurchased

Currencysale

Quantitysale

USD 1,279,282.38 NOK 10,887,719.00 27/07/21 13,902.84 BOFA SECURITIES EUROPE S.A.- FIC

CNY 7,000,000.00 USD 1,086,585.33 27/08/21 -7,818.45 Société Générale

-328,645.14

USD 565,277.00 EUR 473,171.36 20/07/21 3,328.86 * J.P.MORGAN AG


Currencypurchased

Maturitydate

Unrealised(in EUR) Counterparty

Quantitypurchased

Currencysale

Quantitysale

EUR 849,064.38 USD 1,030,000.00 29/07/21 -19,020.09 Natixis

-15,691.23

USD 2,528,819.81 SGD 3,400,000.00 29/07/21 -1,341.98 Société Générale

Natixis AM Funds - DNCA Global Convertible Bonds (formerly Ostrum Global Convertible Bonds)

Currencypurchased

Maturitydate


Quantitypurchased

Currencysale

Quantitysale

EUR 400,000.00 CHF 435,601.08 01/07/21 3,101.05 Société GénéraleEUR 80,059.04 USD 95,664.31 15/07/21 -691.33 * CACEIS Bank, Luxembourg BranchEUR 101.86 USD 121.78 15/07/21 -0.95 * CACEIS Bank, Luxembourg BranchJPY 170,000,000.00 USD 1,534,707.27 01/07/21 -3,099.89 GOLDMAN SACHS INTL

BRANCH PARISUSD 1,814,484.49 GBP 1,300,000.00 01/07/21 18,547.16 GOLDMAN SACHS INTL

BRANCH PARISUSD 271,582.68 JPY 30,000,000.00 29/07/21 0.01 Société GénéraleEUR 1,682.84 USD 2,012.08 15/07/21 -15.71 * CACEIS Bank, Luxembourg BranchUSD 5,822,436.43 JPY 640,000,000.00 01/07/21 56,066.11 GOLDMAN SACHS INTL

BRANCH PARISUSD 32,180,377.68 EUR 26,400,000.00 01/07/21 872,010.15 GOLDMAN SACHS INTL

BRANCH PARISUSD 856,925.79 EUR 700,000.00 01/07/21 26,803.02 GOLDMAN SACHS INTL

BRANCH PARISGBP 300,000.00 USD 424,048.35 01/07/21 -9,634.71 GOLDMAN SACHS INTL

BRANCH PARISGBP 230,000.00 EUR 267,470.29 29/07/21 0.00 GOLDMAN SACHS INTL

BRANCH PARISEUR 15,469.01 USD 18,456.15 15/07/21 -106.42 * CACEIS Bank, Luxembourg BranchEUR 1,560,824.50 USD 1,865,063.53 15/07/21 -13,478.05 * CACEIS Bank, Luxembourg BranchUSD 467,197.71 CHF 420,000.00 01/07/21 12,826.57 CACEIS Bank, Luxembourg BranchUSD 696,383.25 GBP 500,000.00 29/07/21 3,788.18 Société GénéraleUSD 656,800.87 EUR 550,000.00 01/07/21 4,597.95 Société GénéraleUSD 3,478,088.10 HKD 27,000,000.00 29/07/21 906.90 Société GénéraleUSD 50,609,969.00 EUR 42,500,000.00 29/07/21 196,008.54 Société GénéraleUSD 1,491,856.51 SGD 2,000,000.00 01/07/21 4,002.21 GOLDMAN SACHS INTL

BRANCH PARISUSD 2,185,925.66 CHF 2,000,000.00 01/07/21 22,223.61 GOLDMAN SACHS INTL

BRANCH PARISUSD 3,460,391.50 GBP 2,500,000.00 29/07/21 4,805.76 Société GénéraleEUR 66,710,154.00 USD 79,713,430.64 15/07/21 -576,056.48 * CACEIS Bank, Luxembourg BranchEUR 347,853.92 GBP 300,000.00 01/07/21 -1,888.35 GOLDMAN SACHS INTL

BRANCH PARISUSD 23,161,283.64 EUR 19,400,000.00 01/07/21 155,263.16 GOLDMAN SACHS INTL

BRANCH PARISUSD 0.01 EUR 0.01 15/07/21 0.00 * CACEIS Bank, Luxembourg BranchUSD 1,559,772.17 GBP 1,100,000.00 01/07/21 40,180.77 GOLDMAN SACHS INTL

BRANCH PARISUSD 12,658,020.70 JPY 1,400,000,000.00 29/07/21 54,945.57 Société Générale

Natixis AM Funds

As at 30/06/21, the following forward contracts were outstanding : The contracts market with an asterisk are those specifically related to the hedgingof a class of shares.

FORWARD FOREIGN EXCHANGE CONTRACTS

161Page

EUR 1,500,000.00 USD 1,792,102.95 29/07/21 -10,326.80 Société Générale

Natixis AM Funds - DNCA Global Convertible Bonds (formerly Ostrum Global Convertible Bonds)

Currencypurchased

Maturitydate


Quantitypurchased

Currencysale

Quantitysale

USD 3,803,578.01 CHF 3,500,000.00 29/07/21 14,946.55 Société GénéraleUSD 978,667.43 AUD 1,300,000.00 29/07/21 1,001.53 Société GénéraleUSD 265,073.38 AUD 350,000.00 01/07/21 2,305.80 Société GénéraleUSD 222,775.25 CHF 200,000.00 01/07/21 6,399.38 Société GénéraleUSD 1,057,396.62 SGD 1,400,000.00 01/07/21 15,912.35 GOLDMAN SACHS INTL

BRANCH PARISEUR 350,000.00 USD 424,587.35 01/07/21 -9,508.83 Société GénéraleEUR 32,448.04 USD 38,796.34 15/07/21 -302.95 * CACEIS Bank, Luxembourg BranchUSD 7,139,446.22 JPY 790,000,000.00 01/07/21 23,654.09 GOLDMAN SACHS INTL

BRANCH PARISUSD 733,310.70 AUD 950,000.00 01/07/21 20,085.07 GOLDMAN SACHS INTL

BRANCH PARISUSD 424,145.94 GBP 300,000.00 01/07/21 9,727.70 GOLDMAN SACHS INTL

BRANCH PARISEUR 30,695,090.26 USD 37,196,187.60 15/07/21 -784,777.77 * CACEIS Bank, Luxembourg BranchUSD 512,175.24 CHF 460,000.00 01/07/21 14,502.96 GOLDMAN SACHS INTL

BRANCH PARISUSD 60,867.68 EUR 50,000.00 01/07/21 1,572.33 GOLDMAN SACHS INTL

BRANCH PARIS

174,954.26

USD 1,000,000.00 EUR 824,767.50 15/07/21 21,633.19 Société Générale


Currencypurchased

Maturitydate


Quantitypurchased

Currencysale

Quantitysale

CNY 12,000,000.00 USD 1,854,100.81 20/08/21 -3,297.71 BOFA SECURITIES EUROPE S.A.- FIC

USD 11,000,000.00 EUR 9,223,666.62 16/07/21 58,049.36 J.P.MORGAN AGEUR 6,764,692.00 USD 8,083,177.82 20/07/21 -58,113.01 * J.P.MORGAN AGAUD 600,000.00 USD 467,320.74 15/07/21 -16,849.95 BOFA SECURITIES EUROPE S.A.

- FICEUR 1,042,251.00 USD 1,245,134.02 20/07/21 -8,693.66 * Credit Agricole CIBUSD 14,098,858.30 EUR 11,800,000.00 29/07/21 97,856.44 Credit Agricole CIBUSD 813,886.38 EUR 680,891.00 20/07/21 6,114.60 * Credit Agricole CIBEUR 6,396,511.00 USD 7,641,646.24 20/07/21 -53,354.76 * Credit Agricole CIBCNY 14,000,000.00 USD 2,173,170.66 27/08/21 -15,636.91 Société GénéraleEUR 9,093,849.18 USD 11,000,000.00 16/07/21 -212,005.28 J.P.MORGAN AGUSD 478,046.16 EUR 400,000.00 28/07/21 3,462.07 J.P.MORGAN AGUSD 21,208.42 EUR 17,739.00 20/07/21 164.57 * Credit Agricole CIBUSD 1,995,413.70 EUR 1,670,000.00 29/07/21 13,916.01 Credit Agricole CIBCLP 350,000,000.00 USD 496,299.03 15/07/21 -15,614.00 Credit Agricole CIBNZD 700,000.00 USD 505,012.20 15/07/21 -15,902.40 HSBC BankUSD 466,081.67 GBP 330,000.00 29/07/21 10,191.20 Credit Agricole CIBEUR 68,160,765.00 USD 81,429,484.80 20/07/21 -569,212.62 * J.P.MORGAN AGUSD 1,161,972.55 ZAR 16,200,000.05 15/09/21 38,336.59 Société GénéraleCAD 600,000.00 USD 496,758.53 15/07/21 -12,215.61 BOFA SECURITIES EUROPE S.A.

- FICUSD 357,059.31 EUR 300,000.00 28/07/21 1,150.50 J.P.MORGAN AGUSD 476,276.00 EUR 400,000.00 28/07/21 1,720.78 J.P.MORGAN AGUSD 19,151.86 EUR 16,019.00 20/07/21 148.17 * J.P.MORGAN AGUSD 445,086.14 GBP 320,000.00 29/07/21 2,990.61 J.P.MORGAN AGUSD 3,254,103.20 EUR 2,685,000.00 29/07/21 68,779.22 Credit Agricole CIB

-656,382.60

EUR 84,697,588.89 USD 104,000,000.00 26/08/21 -2,903,303.84 J.P.MORGAN AG


Currencypurchased

Maturitydate


Quantitypurchased

Currencysale

Quantitysale

USD 46,402.00 EUR 38,841.31 20/07/21 273.26 * J.P.MORGAN AG

Natixis AM FundsFORWARD FOREIGN EXCHANGE CONTRACTS

162Page

NOK 116,000,000.00 USD 13,865,162.56 23/07/21 -323,785.04 Société Générale


Currencypurchased

Maturitydate


Quantitypurchased

Currencysale

Quantitysale

EUR 31,448,346.61 GBP 27,000,000.00 13/08/21 19,484.05 J.P.MORGAN AG

-3,207,331.57

EUR 36,689,737.72 GBP 31,500,000.00 13/08/21 22,731.40 J.P.MORGAN AG


Currencypurchased

Maturitydate


Quantitypurchased

Currencysale

Quantitysale

NOK 135,000,000.00 USD 16,136,180.57 23/07/21 -376,818.80 Société GénéraleEUR 77,367,989.85 USD 95,000,000.00 26/08/21 -2,652,056.39 J.P.MORGAN AG

-3,006,143.79

USD 1,653,555.00 EUR 1,384,118.71 20/07/21 9,747.71 * Société Générale

9,747.71


Currencypurchased

Maturitydate


Quantitypurchased

Currencysale

Quantitysale

EUR 174,306.95 USD 208,386.00 20/07/21 -1,349.06 * Société Générale


Currencypurchased

Maturitydate


Quantitypurchased

Currencysale

Quantitysale

USD 1,437,096.00 EUR 1,202,777.70 20/07/21 8,623.44 * STATE STREET BANK GMBH

7,274.38

USD 154,769.00 EUR 129,548.06 20/07/21 914.59 * BNP PARIBAS PARIS


Currencypurchased

Maturitydate


Quantitypurchased

Currencysale

Quantitysale

USD 943,957.00 EUR 790,144.28 20/07/21 5,564.99 * STATE STREET BANK GMBH

6,479.58

USD 226,598.00 EUR 189,651.23 20/07/21 1,359.72 * STATE STREET BANK GMBH


Currencypurchased

Maturitydate


Quantitypurchased

Currencysale

Quantitysale

EUR 18,885.60 SGD 30,265.00 21/07/21 -90.90 * BNP PARIBAS PARISSGD 41,346.00 EUR 25,804.43 21/07/21 121.38 * Société GénéraleSGD 103,670.00 EUR 64,652.28 21/07/21 353.01 * BNP PARIBAS PARISEUR 5,500,000.00 USD 6,713,823.60 16/09/21 -152,998.90 STATE STREET BANK GMBHSGD 36,456.00 EUR 22,750.06 21/07/21 108.76 * Credit Agricole CIBSGD 2,617,072.00 EUR 1,633,359.82 21/07/21 7,662.77 * Société GénéraleEUR 203,880.62 SGD 326,552.00 21/07/21 -880.36 * BNP PARIBAS PARIS

-144,364.52

EUR 2,812,537.00 USD 3,359,993.11 20/07/21 -23,431.89 * Credit Agricole CIB


Currencypurchased

Maturitydate


Quantitypurchased

Currencysale

Quantitysale

EUR 30,322,070.00 USD 36,224,482.28 20/07/21 -252,908.95 * STATE STREET BANK GMBH


163Page

EUR 56,993,784.00 USD 68,088,057.21 20/07/21 -475,377.90 * STATE STREET BANK GMBH


Currencypurchased

Maturitydate


Quantitypurchased

Currencysale

Quantitysale

USD 43,162.48 EUR 36,218.00 20/07/21 195.68 * J.P.MORGAN AGUSD 36,968.12 EUR 31,052.00 20/07/21 130.27 * J.P.MORGAN AGUSD 572,308.20 ZAR 8,000,000.00 23/07/21 13,801.21 STATE STREET BANK GMBHEUR 4,376,336.00 USD 5,228,264.20 20/07/21 -36,545.19 * J.P.MORGAN AGCNY 14,000,000.00 USD 2,173,170.66 27/08/21 -15,636.91 Société Générale

-789,773.68


164Page

90DAY EURO$ 12/21 2,635.1325 USD 21,081,035.50 CACEIS Bank, Paris

Futures on interest rates

2,635.13

(purchase/(sale)) DenominationQuantity

Currency(in EUR)

Broker(in absolute value)

Commitment

(in EUR)Unrealised


EURO BTP FUTURE -EUX 09/21 -3,320.00-4 EUR 423,814.00 CACEIS Bank, Paris

Futures on bonds

EURO BUXL FUTURE 09/21 18,520.0013 EUR 2,034,448.00 CACEIS Bank, ParisUS ULTRA BD CBT 30YR 09/21 3,109.456 USD 598,991.27 CACEIS Bank, Paris

18,309.45

EURO BOBL FUTURE 09/21 -10,670.00-97 EUR 9,977,517.00 CACEIS Bank, Paris

Futures on bonds

-10,670.00


Currency(in EUR)


Commitment

(in EUR)Unrealised


EURO BUND FUTURE 09/21 39,220.0037 EUR 3,802,360.50 CACEIS Bank, Paris

Futures on bonds


Currency(in EUR)


Commitment

(in EUR)Unrealised


EURO BUXL FUTURE 09/21 -36,600.00-10 EUR 1,564,960.00 CACEIS Bank, Paris

2,620.00

EURO BOBL FUTURE 09/21 114,840.00638 EUR 65,625,318.00 CACEIS Bank, Paris

Futures on bonds


Currency(in EUR)


Commitment

(in EUR)Unrealised


EURO BTP FUTURE -EUX 09/21 -45,500.00-50 EUR 5,297,675.00 CACEIS Bank, ParisEURO BUND FUTURE 09/21 -147,340.00-250 EUR 25,691,625.00 CACEIS Bank, ParisEURO BUXL FUTURE 09/21 -61,260.0050 EUR 7,824,800.00 CACEIS Bank, ParisEURO SCHATZ FUTURE 09/21 210.00-42 EUR 4,255,314.00 CACEIS Bank, ParisEURO-OAT-FUTURES-EUX 09/21 30,000.00100 EUR 12,275,850.00 CACEIS Bank, ParisUS 5 YEARS NOTE-CBT 09/21 -11,989.84-200 USD 16,557,835.91 CACEIS Bank, Paris

-121,039.84

EUR/USD (CME) 09/21 -375,426.89130 USD 16,250,000.00 CACEIS Bank, Paris

Futures on currency

-375,426.89

As at 30/06/21, the following future contracts were outstanding :

Natixis AM FundsFUTURES

165Page

AUSTR 10YR BOND 09/21 -16,430.46-10 AUD 1,059,956.62 CACEIS Bank, Paris

Futures on bonds


Currency(in USD)


Commitment

(in USD)Unrealised


AUSTR 3YR BOND 09/21 -1,716.9310 AUD 874,509.98 CACEIS Bank, ParisEURO BOBL FUTURE 09/21 1,008.0220 EUR 2,439,657.20 CACEIS Bank, ParisEURO BTP FUTURE -EUX 09/21 -1,363.7910 EUR 1,256,502.56 CACEIS Bank, ParisEURO BUND FUTURE 09/21 18,417.0315 EUR 1,828,061.89 CACEIS Bank, ParisEURO BUXL FUTURE 09/21 1,257.05-1 EUR 185,588.61 CACEIS Bank, ParisJPN 10 YEARS BOND 09/21 3,603.931 JPY 911,631.62 CACEIS Bank, ParisLONG GILT FUTURE-LIF 09/21 -14,090.72-10 GBP 1,889,109.90 CACEIS Bank, ParisUS 10 YEARS NOTE 09/21 3,053.1325 USD 2,775,390.63 CACEIS Bank, ParisUS 2 YEARS NOTE- CBT 09/21 -156.25-20 USD 4,189,531.24 CACEIS Bank, ParisUS 5 YEARS NOTE-CBT 09/21 11,596.87-60 USD 5,890,781.28 CACEIS Bank, Paris

5,177.88

EUR/USD (CME) 09/21 369,425.00-90 USD 13,341,375.00 CACEIS Bank, Paris

Futures on currency

JPN YEN CURR FUT 09/21 36,325.00-26 USD 2,928,191.53 CACEIS Bank, ParisUSD/AUD (CME) 09/21 34,930.00-14 USD 1,051,030.29 CACEIS Bank, ParisUSD/CAD (CME) 09/21 4,560.00-11 USD 888,314.61 CACEIS Bank, ParisUSD/GBP (CME) 09/21 23,375.00-11 USD 949,742.27 CACEIS Bank, ParisUSD/NZD (CME) 09/21 43,700.00-20 USD 20,000.00 CACEIS Bank, Paris

512,315.00

EURO BOBL FUTURE 09/21 -560.00-4 EUR 411,444.00 CACEIS Bank, Paris

Futures on bonds


Currency(in EUR)


Commitment

(in EUR)Unrealised


EURO BUND FUTURE 09/21 -15,520.00-16 EUR 1,644,264.00 CACEIS Bank, Paris

-16,080.00

90DAY EURO$ 06/22 1,250.00-100 USD 100,000,000.00 CACEIS Bank, Paris

Futures on interest rates

1,250.00


Currency(in USD)


Commitment

(in USD)Unrealised


AUSTR 3YR BOND 09/21 6,867.73-40 AUD 3,498,039.92 CACEIS Bank, Paris

Futures on bonds

EURO BTP FUTURE -EUX 09/21 272.761 EUR 125,650.26 CACEIS Bank, ParisEURO BUXL FUTURE 09/21 18,855.8110 EUR 1,855,886.06 CACEIS Bank, ParisUS ULTRA BD CBT 30YR 09/21 6,656.253 USD 355,171.88 CACEIS Bank, ParisUS 2 YEARS NOTE- CBT 09/21 -10,640.6230 USD 6,284,296.86 CACEIS Bank, ParisUS 5 YEARS NOTE-CBT 09/21 52,598.44-147 USD 14,432,414.14 CACEIS Bank, Paris

74,610.37

DJ ESTOXX50D 12/22 -174,327.30-100 EUR 48,198,533.70 CACEIS Bank, Paris

Futures on index

DJ ESTOXX50D 12/23 92,500.2050 EUR 24,099,266.85 CACEIS Bank, ParisDJ ESTOXX50D 12/24 90,128.4050 EUR 24,099,266.85 CACEIS Bank, ParisDJ EURO STOXX 50 09/21 -9,890.4112 EUR 578,382.40 CACEIS Bank, Paris

-1,589.11

EUR/USD (CME) 09/21 316,693.75-75 USD 11,117,812.50 CACEIS Bank, Paris

Futures on currency


166Page

JPN YEN CURR FUT 09/21 15,568.75-19 USD 2,139,832.27 CACEIS Bank, Paris


Currency(in USD)


Commitment

(in USD)Unrealised


USD/AUD (CME) 09/21 -28,710.0011 USD 825,809.51 CACEIS Bank, ParisUSD/CAD (CME) 09/21 630.00-3 USD 242,267.62 CACEIS Bank, ParisUSD/GBP (CME) 09/21 4,250.00-2 USD 172,680.41 CACEIS Bank, Paris

308,432.50

AUSTR 10YR BOND 09/21 33,978.1471 AUD 6,345,975.19 CACEIS Bank, Paris

Futures on bonds


Currency(in EUR)


Commitment

(in EUR)Unrealised


AUSTR 3YR BOND 09/21 -5,792.0135 AUD 2,580,980.63 CACEIS Bank, ParisCAN 10YR BOND (MSE) 09/21 51,024.8659 CAD 3,988,395.98 CACEIS Bank, ParisCAN 5YR BOND (MSE) 09/21 -11,562.8250 CAD 3,292,254.00 CACEIS Bank, ParisEURO BTP FUTURE -EUX 09/21 9,960.0012 EUR 1,271,442.00 CACEIS Bank, ParisLONG GILT FUTURE-LIF 09/21 59,758.8745 GBP 7,168,390.70 CACEIS Bank, ParisUS 10 YEARS NOTE 09/21 38,367.4856 USD 5,242,326.50 CACEIS Bank, ParisUS 5 YEARS NOTE-CBT 09/21 -4,719.5118 USD 1,490,205.23 CACEIS Bank, Paris

171,015.01

DJ.STOXX 600 CONS 09/21 -17,000.0025 EUR 566,050.00 CACEIS Bank, Paris

Futures on index

EURO STOX BANK IDX 09/21 -31,700.00130 EUR 608,790.00 CACEIS Bank, ParisMINI MSCI EMG MKT 09/21 1,011.898 USD 463,660.34 CACEIS Bank, Paris

-47,688.11


Futures on currency

-271,550.09


Futures on bonds


Currency(in EUR)


Commitment

(in EUR)Unrealised


EURO BTP FUTURE -EUX 09/21 -17,940.00-26 EUR 2,754,791.00 CACEIS Bank, ParisEURO BUND FUTURE 09/21 -94,640.00-91 EUR 9,351,751.50 CACEIS Bank, ParisEURO BUXL FUTURE 09/21 -288,960.00-84 EUR 13,145,664.00 CACEIS Bank, ParisEURO SCHATZ FUTURE 09/21 -10,100.00505 EUR 51,165,085.00 CACEIS Bank, ParisEURO-OAT-FUTURES-EUX 09/21 -6,450.00-15 EUR 1,841,377.50 CACEIS Bank, ParisJPN 10 YEARS BOND 09/21 52,422.4378 JPY 59,960,592.01 CACEIS Bank, ParisLONG GILT FUTURE-LIF 09/21 29,378.5326 GBP 4,141,736.85 CACEIS Bank, ParisUS ULTRA BD CBT 30YR 09/21 385,361.33100 USD 9,983,187.87 CACEIS Bank, ParisUS 10 YEARS NOTE 09/21 -34,941.82-102 USD 9,548,523.27 CACEIS Bank, ParisUS 2 YEARS NOTE- CBT 09/21 -94,526.02277 USD 48,929,089.87 CACEIS Bank, ParisUS 5 YEARS NOTE-CBT 09/21 -19,914.99-255 USD 21,111,240.78 CACEIS Bank, Paris

-93,910.54

DAX INDEX GERMANY 09/21 -60,375.0014 EUR 5,435,864.00 CACEIS Bank, Paris

Futures on index

DJ EURO STOXX 50 09/21 -47,400.0060 EUR 2,438,580.00 CACEIS Bank, ParisDJ STOXX 600 FOOD 09/21 52,655.00155 EUR 3,509,510.00 CACEIS Bank, ParisDJ STOXX 600 P&HG 09/21 -52,360.00115 EUR 2,603,830.00 CACEIS Bank, ParisDJ ST600 HLTH (EUX) 09/21 14,960.00136 EUR 6,678,824.00 CACEIS Bank, ParisDJ.STOX 600 INDUS 09/21 5,820.00260 EUR 9,479,990.00 CACEIS Bank, ParisDJ.STOXX600 BASI 09/21 -227,775.00228 EUR 5,162,376.00 CACEIS Bank, ParisDJ.STOXX600.OIL(EUX) 09/21 -234,685.00514 EUR 6,680,201.00 CACEIS Bank, Paris


167Page

EURO STOX BANK IDX 09/21 -856,137.503,376 EUR 15,809,808.00 CACEIS Bank, Paris


Currency(in EUR)


Commitment

(in EUR)Unrealised


FTSE MIB INDEX 09/21 -127,065.0043 EUR 5,396,938.60 CACEIS Bank, ParisFTSE 100 INDEX 09/21 -532,832.43372 GBP 30,496,113.23 CACEIS Bank, ParisMINI MSCI EMG MKT 09/21 155,156.42320 USD 18,546,413.69 CACEIS Bank, ParisNASDAQ 100 E-MINI 09/21 -248,975.46-28 USD 6,872,997.72 CACEIS Bank, ParisNIKKEI 225 (CME) 09/21 -111,813.8178 USD 9,466,354.67 CACEIS Bank, ParisNIKKEI 225 (OSE) 09/21 72,149.22-679 JPY 14,852,602.85 CACEIS Bank, ParisS&P 500 EMINI INDEX 09/21 559,102.79256 USD 46,385,024.03 CACEIS Bank, ParisSPI 200 INDEX (SFE) 09/21 -52,005.1953 AUD 6,134,115.46 CACEIS Bank, ParisSTOXX EUR 600 09/21 462,603.00-1,785 EUR 40,415,970.00 CACEIS Bank, ParisSWISS MARKET INDEX 09/21 -15,526.3646 CHF 5,011,540.96 CACEIS Bank, ParisTOPIX (OSE) 09/21 -133,791.16104 JPY 15,356,829.98 CACEIS Bank, Paris

-1,378,295.48


Futures on currency

JPN YEN CURR FUT 09/21 -183,345.98136 USD 12,915,670.94 CACEIS Bank, ParisUSD/AUD (CME) 09/21 31,874.53-15 USD 949,577.44 CACEIS Bank, ParisUSD/CHF (CME) 09/21 367,973.02-104 USD 11,859,149.79 CACEIS Bank, ParisUSD/GBP (CME) 09/21 477,738.43-275 USD 20,021,550.47 CACEIS Bank, ParisUSD/MXN (CME) 09/21 -120,212.50528 USD 11,180,826.58 CACEIS Bank, Paris

-419,432.11


Futures on bonds


Currency(in EUR)


Commitment

(in EUR)Unrealised


EURO BTP FUTURE -EUX 09/21 -8,280.00-12 EUR 1,271,442.00 CACEIS Bank, ParisEURO BUND FUTURE 09/21 -44,720.00-43 EUR 4,418,959.50 CACEIS Bank, ParisEURO BUXL FUTURE 09/21 -141,040.00-41 EUR 6,416,336.00 CACEIS Bank, ParisEURO SCHATZ FUTURE 09/21 -9,800.00490 EUR 49,645,330.00 CACEIS Bank, ParisEURO-OAT-FUTURES-EUX 09/21 -7,740.00-18 EUR 2,209,653.00 CACEIS Bank, ParisJPN 10 YEARS BOND 09/21 53,562.0581 JPY 62,266,768.62 CACEIS Bank, ParisLONG GILT FUTURE-LIF 09/21 14,689.2713 GBP 2,070,868.43 CACEIS Bank, ParisUS ULTRA BD CBT 30YR 09/21 378,694.4596 USD 9,583,860.36 CACEIS Bank, ParisUS 10 YEARS NOTE 09/21 -29,118.18-85 USD 7,957,102.73 CACEIS Bank, ParisUS 2 YEARS NOTE- CBT 09/21 -81,558.55239 USD 42,216,795.95 CACEIS Bank, ParisUS 5 YEARS NOTE-CBT 09/21 -13,913.48-252 USD 20,862,873.24 CACEIS Bank, Paris

115,655.56

DAX INDEX GERMANY 09/21 -73,312.5017 EUR 6,600,692.00 CACEIS Bank, Paris

Futures on index

DJ EURO STOXX 50 09/21 -94,010.00119 EUR 4,836,517.00 CACEIS Bank, ParisDJ STOXX 600 FOOD 09/21 54,890.00204 EUR 4,618,968.00 CACEIS Bank, ParisDJ STOXX 600 P&HG 09/21 -68,205.00152 EUR 3,441,584.00 CACEIS Bank, ParisDJ ST600 HLTH (EUX) 09/21 18,150.00165 EUR 8,102,985.00 CACEIS Bank, ParisDJ.STOX 600 INDUS 09/21 7,145.00319 EUR 11,631,218.50 CACEIS Bank, ParisDJ.STOXX600 BASI 09/21 -271,705.00279 EUR 6,317,118.00 CACEIS Bank, ParisDJ.STOXX600.OIL(EUX) 09/21 -265,265.00581 EUR 7,550,966.50 CACEIS Bank, ParisEURO STOX BANK IDX 09/21 -966,960.003,813 EUR 17,856,279.00 CACEIS Bank, ParisFTSE MIB INDEX 09/21 -153,660.0052 EUR 6,526,530.40 CACEIS Bank, ParisFTSE 100 INDEX 09/21 -628,912.57446 GBP 36,562,544.35 CACEIS Bank, ParisMINI MSCI EMG MKT 09/21 27,308.37381 USD 22,081,823.80 CACEIS Bank, ParisNASDAQ 100 E-MINI 09/21 -311,219.33-35 USD 8,591,247.15 CACEIS Bank, ParisNIKKEI 225 (CME) 09/21 -134,749.9894 USD 11,410,759.00 CACEIS Bank, ParisNIKKEI 225 (OSE) 09/21 83,868.29-789 JPY 17,258,768.26 CACEIS Bank, ParisS&P 500 EMINI INDEX 09/21 709,798.47325 USD 58,887,237.54 CACEIS Bank, ParisSPI 200 INDEX (SFE) 09/21 -56,911.3458 AUD 6,712,805.59 CACEIS Bank, ParisSTOXX EUR 600 09/21 568,825.00-2,239 EUR 50,695,438.00 CACEIS Bank, Paris


168Page

SWISS MARKET INDEX 09/21 -15,863.8947 CHF 5,120,487.50 CACEIS Bank, Paris


Currency(in EUR)


Commitment

(in EUR)Unrealised


TOPIX (OSE) 09/21 -164,067.01127 JPY 18,753,051.99 CACEIS Bank, Paris

-1,734,856.49

EUR/USD (CME) 09/21 -1,331,614.17408 USD 51,000,000.00 CACEIS Bank, Paris

Futures on currency

JPN YEN CURR FUT 09/21 -222,441.82165 USD 15,669,747.83 CACEIS Bank, ParisUSD/AUD (CME) 09/21 57,396.91-27 USD 1,709,239.39 CACEIS Bank, ParisUSD/CHF (CME) 09/21 450,455.25-127 USD 14,481,846.38 CACEIS Bank, ParisUSD/GBP (CME) 09/21 511,837.00-296 USD 21,550,468.87 CACEIS Bank, ParisUSD/MXN (CME) 09/21 -141,386.29621 USD 13,150,176.71 CACEIS Bank, Paris

-675,753.12

STOXX EUR 600 09/21 51,614.00-197 EUR 4,460,474.00 CACEIS Bank, Paris

Futures on index

51,614.00


Currency(in EUR)


Commitment

(in EUR)Unrealised


DJ EURO STOXX 50 09/21 -198,410.00273 EUR 11,095,539.00 CACEIS Bank, Paris

Futures on index


Currency(in EUR)


Commitment

(in EUR)Unrealised


S&P 500 EMINI INDEX 09/21 67.461 USD 181,191.50 CACEIS Bank, Paris

-198,342.54

US TREASURY BOND 09/21 1,093.755 USD 727,265.63 CACEIS Bank, Paris

Futures on bonds

1,093.75


Currency(in USD)


Commitment

(in USD)Unrealised


JPN YEN CURR FUT 09/21 13,162.50-18 USD 2,027,209.52 CACEIS Bank, Paris

Futures on currency

USD/AUD (CME) 09/21 -31,320.0012 USD 900,883.11 CACEIS Bank, Paris

-18,157.50


169Page

Natixis AM FundsOther notes to the financial statements

NATIXIS AM Funds

Other notes to the financial statements

Page 170 C2 - Internal Natixis

1. General information: NATIXIS AM Funds (the “SICAV”) was incorporated on May 21, 2013 as a Luxembourg Société Anonyme qualifying as Société d’Investissement à Capital Variable under Part I of the Luxembourg law of December 17, 2010 on undertakings for collective investment, as amended. The SICAV is recorded in the Luxembourg Registre de Commerce et des Sociétés under the number B 177 509. The articles of association of the SICAV were filed with the Luxembourg Registre de Commerce et des Sociétés and a publication of such deposit was made in the Mémorial C, Recueil des Sociétés et Associations on 29 May 2013.

The SICAV is an umbrella structure with multiple sub-funds which offers investors a choice between several classes of shares with different characteristics and fee structure. As at June 30, 2021, the following sub-funds were active:

Sub-funds Currency Launch date NATIXIS AM Funds - Ostrum Euro Bonds Opportunities 12 Months EUR 18/12/2013 NATIXIS AM Funds - Ostrum Euro Short Term Credit EUR 22/10/2013 NATIXIS AM Funds - Ostrum Euro Credit EUR 31/01/2014 NATIXIS AM Funds - Ostrum Euro Inflation EUR 13/12/2013 NATIXIS AM Funds - Ostrum Euro Aggregate EUR 18/11/2013 NATIXIS AM Funds - Ostrum Global Aggregate USD 28/08/2017 NATIXIS AM Funds - Ostrum Credit Opportunities EUR 20/11/2013 NATIXIS AM Funds - DNCA Global Convertible Bonds (formerly Ostrum Global Convertible Bonds) USD 25/10/2016

NATIXIS AM Funds - Ostrum Multi Asset Global Income USD 19/06/2017 NATIXIS AM Funds - DNCA Euro Value Equity (formerly Ostrum Euro Value Equity) EUR 20/11/2013

NATIXIS AM Funds - Natixis Conservative Risk Parity EUR 25/06/2013 NATIXIS AM Funds - Seeyond Multi Asset Conservative Growth Fund EUR 03/10/2013 NATIXIS AM Funds - Seeyond Multi Asset Diversified Growth Fund EUR 24/01/2017 NATIXIS AM Funds - Seeyond Equity Factor Investing Europe EUR 30/11/2016 NATIXIS AM Funds - Seeyond Europe Market Neutral EUR 29/06/2017 NATIXIS AM Funds - Seeyond Europe Minvol EUR 27/11/2013 NATIXIS AM Funds - Seeyond US Minvol USD 25/07/2018 NATIXIS AM Funds - Seeyond Global Minvol EUR 19/12/2013 NATIXIS AM Funds - Seeyond Volatility Strategy (formerly Seeyond Equity Volatility Strategies) EUR 05/11/2013

NATIXIS AM Funds - Ostrum Global Emerging Bonds USD 24/01/2014 NATIXIS AM Funds - DNCA Global Emerging Equity (formerly Ostrum Global Emerging Equity) EUR 13/11/2013

NATIXIS AM Funds - DNCA Global Sport Equity USD 24/03/2021 The sub-fund NATIXIS AM Funds - Seeyond Equity Factor Investing Europe was closed on November 4, 2020 following a redemption request representing to 100% of the shares in issue within the Sub-Fund. The sub-fund NATIXIS AM Funds - Seeyond US Minvol was closed on November 24, 2020 following a redemption request representing to 100% of the shares in issue within the Sub-Fund. The merger on June 17, 2021 of the sub-funds NATIXIS AM Funds - DNCA Global Convertibles Bonds - Absorbing and Global Convertibles of the SICAV DNCA-Invest Absorbed. 2. Summary of significant accounting principles: These financial statements have been prepared in accordance with Luxembourg legal and regulatory requirements applicable to undertakings for collective investment.

a) Portfolio valuation

The value of any transferable securities and money market instruments which are listed on a Stock Exchange or dealt in on a regulated market is determined according to their last closing price.

In the event that any transferable securities and money market instruments (other than short-term money market instruments) held by the SICAV at the valuation day are neither quoted on a Stock Exchange nor dealt in on another regulated market, their valuation is based upon valuations provided by pricing vendors, which valuations are determined

NATIXIS AM Funds

Other notes to the financial statements (continued)

Page 171

C2 - Internal Natixis

2. Summary of significant accounting principles (continued): based on normal, institutional-size trading of such securities using market information, transactions for comparable securities and various relationships between securities which are generally recognized by institutional traders.

Short-term money market instruments are valued at amortized cost which approximates market value under normal conditions. b) Forward foreign exchange contracts

Outstanding forward foreign exchange contracts are valued at the closing date by reference to the rate of exchange applicable to the outstanding life of the contract. The unrealised appreciation or depreciation is disclosed in the statement of net assets.

Realised profit/(loss) and change in unrealised appreciation/depreciation resulting there from are included in the statement of operations and changes in net assets respectively under “Net realised profit/(loss) on forward foreign exchange contracts” and “Movement in net unrealised appreciation/depreciation on forward foreign exchange contracts”. For the details of outstanding financial forward foreign exchange contracts, please refer to section “Notes to the financial statements - Schedule of derivative instruments”. c) Futures contracts

Open futures contracts are valued at their last quoted price on the valuation date or on the closing date. The unrealised appreciation or depreciation on futures contracts is recorded in the statement of net assets.

Realised profit/(loss) and change in unrealised appreciation/depreciation resulting there from are included in the statement of operations and changes in net assets respectively under “Net realised profit/(loss) on financial futures” and “Movement in net unrealised appreciation (depreciation) on financial futures”. For the details of outstanding financial futures contracts, please refer to section “Notes to the financial statements - Schedule of derivative instruments”. d) Options

Options traded on an official exchange or any other regulated market that operates regularly and is recognised and open to the public are valued on the basis of quoted prices on the valuation date or closing date. The market value of options is recorded in the statement of net assets.

Credit index Options are call/put options on Credit Index. The pricing methodology is very similar to the one used for swaptions with a measure change that takes an annuity as a numeraire. For pricing credit index option a modified Black and Scholes formula is used with a risky annuity taking into account credit risk specificities. The main parameter of the model is the volatility which is contributed by BVAL derivatives.

Realised profit/(loss) and change in unrealised appreciation/depreciation resulting there from are included in the statement of operations and changes in net assets respectively under “Net realised profit/(loss) on options” and “Movement in net unrealised appreciation (depreciation) on options”.

For the details of outstanding financial options, please refer to section “Notes to the financial statements - Schedule of derivative instruments”.

e) Swaps

An Interest Rate Swap (“IRS”) is a bilateral agreement in which each of the parties agree to exchange a series of interest payments for another series of interest payments (usually fixed/floating) based on a notional amount that serves as a computation basis and that is usually not exchanged IRS are valued with a multi-curve method according to the collateralization policy.

A Credit Default Swap (“CDS”) is a bilateral agreement in which one counterparty (the protection buyer) pays a periodic fee in return for a contingent payment by the protection seller following a credit event on any reference issuers. When the difference between the loss due to a credit event and the periodic fee is positive, the protection buyer usually receives a cash settlement corresponding to such difference. When such difference is negative, the cash settlement is usually received by the protection seller.

NATIXIS AM Funds


Page 172


2. Summary of significant accounting principles (continued): Prices of all CDS are retrieved daily from Bloomberg at 4 pm London time.

Bloomberg uses the standard ISDA model for valuating CDS and the input datas needed by the Bloomberg inner pricer (BVAL Derivatives) are standardized datas also published by Bloomberg like CDS curve or yield curve for example.

The Bloomberg CDS model values single name and index credit default swaps as a function of their schedule, currency, deal spread, notional, CDS curve and benchmark yield curve.

The key assumptions employed are constant recovery as a fraction of par, piecewise constant risk neutral hazard rates, and default events being statistically independent of changes in the default free yield curve. An Equity Swap (“EQS”) is an exchange of cash flows between two parties that allows each party to diversify its income, while still holding its original assets. The two sets of nominally equal cash flows are exchanged as per the terms of the Swap, which may involve an equity-based cash flow (such as from a stock asset) that is traded for a fixed-income cash flow (such as a benchmark rate). Besides diversification and Tax Benefits, Equity Swaps also allow to hedge specific assets or positions in their portfolios.

An Inflation Swap (“IFS”) is a bilateral contract which allows investors wishing to protect their investment to secure an inflation-linked return against an inflation index. The inflation buyer (inflation receiver) pays a predetermined fixed or variable rate (less a spread). In exchange, the inflation buyer receives from the inflation seller (inflation payer) one or more inflation-related payments. The main risk inherent in an inflation swap resides in its sensitivity to the interest rates and inflation: the inflation payer faces an inflation risk, i.e. changes likely to affect the inflation curve, and also an interest-rate related risk, in other words changes in the nominal yield curve. To evaluate inflation swaps, a “Forward Zero Coupon” curve is created and adjusted to take into account the seasonal inflation, which permits calculation of the future inflation cash flows.

Realised profit/(loss) and change in unrealised appreciation/depreciation resulting there from are included in the statement of operations and changes in net assets respectively under “Net realised profit/(loss) on swaps” and “Movement in net unrealised appreciation (depreciation) on swaps”. The unrealised appreciation or depreciation on Swaps is recorded in the statement of net assets.

f) Repurchase agreements / Reverse repurchase agreements

Repurchase agreements ("Repos") are similar to secured borrowings of cash equal to the sale price of a portfolio of securities representing the collateral. The underlying securities remain in the investment portfolio of the SICAV, which remains exposed to the risk of depreciation in value. Reverse repurchase agreements (“Reverse repos”) are similar to secured lending of cash. In this case, the SICAV is not exposed to the risk of depreciation in value. The interest charged for the Repos transactions is included in the statement of operations and changes in net assets under “Expenses on repurchase transactions”. The income generated by the Reverse repos transactions are included in the statement of operations and changes in net assets under “Income on reverse repurchase transactions”.

g) Foreign currency translation

Assets and liabilities stated in currencies other than the reporting currency of each sub-fund of the SICAV have been translated at the exchange rates prevailing in Luxembourg at the statement of net assets date. Income and expenses denominated in currencies other than the reporting currency of each sub-fund have been translated at the rate prevailing at the date of the transaction.

As at June 30, 2021, the following exchange rates were used:

1 EUR = 4.356 AED 1 EUR = 9.2095 HKD 1 EUR = 57.8897 PHP 1.57965 AUD 351.03 HUF 4.51475 PLN 5.9507 BRL 17,195.5505 IDR 4.31785 QAR 1.4685 CAD 88.14795 INR 10.142 SEK 1.0962 CHF 3.86425 ILS 1.5941 SGD 863.4657 CLP 131.62305 JPY 38.0081 THB 7.66265 CNY 127.9586 KES 10.3025 TRY 4,428.1509 COP 1,335.5013 KRW 33.04215 TWD 25.507 CZK 23.61185 MXN 1.1859 USD 7.66195 CNH 4.9233 MYR 16.93315 ZAR 7.43625 DKK 10.2049 NOK 18.6127 EGP 1.69715 NZD 0.85845 GBP 4.54495 PEN

NATIXIS AM Funds


Page 173


2. Summary of significant accounting principles (continued): h) Realised profit and loss on securities

The profit and loss realised on sale of investments are determined on the basis of the average cost of securities sold.

i) Dividend and interest income

Dividend income is recorded as of the ex-dividend date and net of withholding tax. Interest income is recorded on an accrual basis and net of withholding tax.

j) Combined statements

The combined financial statements of the SICAV are expressed in EUR and are equal to the sum of the corresponding captions in the financial statements of each sub-fund with no elimination of cross-investments. If cross-investments were eliminated, the recalculated combined net asset value would amount to EUR 4,954,989,875.31. These cross-investments amount to EUR 42,814,674.69 and are detailed as follows:

- investment of the sub-fund NATIXIS AM Funds - Ostrum Euro Aggregate in the sub-funds NATIXIS AM Funds - Ostrum Euro Inflation, NATIXIS AM Funds - Ostrum Global Emerging Bonds and NATIXIS AM Funds - Ostrum Multi Asset Global Income for a total amount of EUR 27,265,061.59;

- investment of the sub-fund NATIXIS AM Funds - Ostrum Global Aggregate in the sub-funds NATIXIS AM Funds - Ostrum Global Emerging Bonds, NATIXIS AM Funds - DNCA Global Convertible Bonds and NATIXIS AM Funds - Ostrum Multi Asset Global Income for a total amount of EUR 3,196,927.48 (USD 3,791,236.30);

- investment of the sub-fund NATIXIS AM Funds - Seeyond Global Minvol in the sub-fund NATIXIS AM Funds - Seeyond Europe Minvol for a total amount of EUR 4,206,950.96;

- investment of the sub-fund NATIXIS AM Funds - Seeyond Multi Asset Conservative Growth Fund in the sub-fund NATIXIS AM Funds - Seeyond Volatility Strategies for a total amount of EUR 2,199,367.54;

- investment of the sub-fund NATIXIS AM Funds - Seeyond Multi Asset Diversified Growth Fund in the sub-fund NATIXIS AM Funds - Seeyond Volatility Strategies for a total amount of EUR 2,191,947.02;

- investment of the sub-fund NATIXIS AM Funds - Natixis Conservative Risk Parity in the sub-funds NATIXIS AM Funds - Seeyond Europe Market Neutral and the sub-fund NATIXIS AM Funds - Ostrum Credit Opportunities for a total amount of EUR 2,365,902.50.

- investment of the sub-fund NATIXIS AM Funds - Ostrum Euro Short Term Credit in the sub-funds NATIXIS AM Funds - Ostrum Credit Opportunities for a total amount of EUR 1,388,517.60.

k) Transaction fees

Transaction fees represent the costs incurred by the sub-funds in connection with transactions on their portfolio securities and derivative instruments. l) Income generated by securities lending, repurchase agreements and reverse repurchase agreements

According to the Fund’s prospectus, all revenues deriving from securities lending, repurchase agreements and reverse repurchase agreements are, after operational costs, for the benefit of the relevant sub-fund. The securities lendings and repurchase agreements may be entered into with Natixis Asset Management Finance, a company belonging to the Management Company’s group. Natixis Asset Management Finance receives a fee equal to 40% excluding taxes of the income generated by these activities, which amount is specified in Notes 9, 10 and 11.

m) Swing Pricing Subscriptions and redemptions can potentially have a dilutive effect on the Sub-Funds’ Net Assets Values per share and be detrimental to long term investors as a result of the costs, bid-offer spreads or other losses that are incurred by the SICAV in relation to the trades undertaken by the Management Company. In order to protect the interest of existing shareholders, the Management Company may decide to introduce a Swing Pricing mechanism for any Sub-Fund. If, for the Sub-Funds listed below, net subscriptions or net redemptions on any calculation day exceeds a certain threshold (“the Swing Threshold”), the net asset value per share will be adjusted respectively upwards or downwards by a Swing Factor. Swing Thresholds and Swing Factors are determined and reviewed on a periodic basis by the Management Company.

NATIXIS AM Funds


Page 174


2. Summary of significant accounting principles (continued) : The Swing Factor is set by the Management Company to reflect estimated dealing and other costs, and may not exceed 2% of the net asset value. The volatility of the Sub Funds' net asset values may not reflect the true portfolio performance, and therefore might deviate from the Sub-Funds' benchmark as a consequence of the application of the Swing Pricing mechanism. Performance fees, if any, are calculated on the basis of the net asset value before the application of Swing Pricing adjustments. The Board resolved on October 21, 2015 to set up the swing pricing mechanism to certain sub-funds of the SICAV, and designated the sub-funds concerned by this decision at the Board meeting hold on April 8, 2016. As a consequence, the swing pricing mechanism applies to the following Sub-Funds: • effective on April 8, 2016: NATIXIS AM Funds - Ostrum Euro Bonds Opportunities 12 Months NATIXIS AM Funds - Ostrum Euro Short Term Credit NATIXIS AM Funds - Ostrum Euro Credit NATIXIS AM Funds - Ostrum Euro Inflation NATIXIS AM Funds - Ostrum Euro Aggregate NATIXIS AM Funds - Ostrum Credit Opportunities NATIXIS AM Funds - DNCA Global Convertible Bonds (formerly Ostrum Global Convertible Bonds) NATIXIS AM Funds - Seeyond Europe Minvol NATIXIS AM Funds - Seeyond Global Minvol NATIXIS AM Funds - Ostrum Global Emerging Bonds NATIXIS AM Funds - DNCA Global Emerging Equity (formerly Ostrum Global Emerging Equity) NATIXIS AM Funds - Ostrum Global Aggregate (NB: launched for merger at 29/08/2017) NATIXIS AM Funds - DNCA Global Sport Equity NATIXIS AM Funds - Ostrum Multi Asset Global Income NATIXIS AM Funds - Seeyond Europe Market Neutral NATIXIS AM Funds - Seeyond US Minvol (liquidated) No Swing Pricing was applied to the year-end Net Asset Values of the Sub-Funds of the SICAV. n) Acronyms used in this report:

XX: Perpetual Bonds Q: Quarterly, A: Annual, S: Semi-Annual, M: Monthly 3. Management fees and Administration fees: Management fees and Administration fees are charged to the sub-funds in the form of an All-in fee, accrued daily and calculated on the basis of the average net asset value of each sub-fund.

If the yearly actual expenses paid by the sub-funds exceed the applicable All-in fee, the Management Company will support the difference; if the yearly actual expenses paid by the sub-funds are lower than the applicable All-in fee, the Management Company will keep the difference. The difference between the yearly actual expenses paid by the sub-funds and the applicable All-in fees is recorded in the management fees caption of the statement of operations.

Management fees comprise the aggregate amount of Management Company fees, Investment Managers fees, Distributors fees and registration fees.

Administration fees comprise the fees due to the Depositary bank, the Administrative Agent, the Paying Agent, the Domiciliary and Corporate Agent and Registrar and Transfer Agent, the costs relating to the translation and printing of key information documents, prospectus and reports to shareholders, independent auditor’s fees, outside counsels and other professionals as well as other administrative expenses.

NATIXIS AM Funds


Page 175


3. Management fees and Administration fees (continued): The All-in fees applicable as at the year-end are detailed in the below table:

Maximum indirect

Management fees

Sub-funds Class of shares

Management fees

Administration fees

Total (All-in fee)

NATIXIS AM Funds - Ostrum Euro Bonds Opportunities 12 Months SI/A (EUR) 0.10% p.a 0.10% p.a 0.20% p.a. -

I/A (EUR) 0.25% p.a. 0.10% p.a. 0.35% p.a. -

R/A (EUR) 0.40% p.a 0.20% p.a. 0.60% p.a. - NATIXIS AM Funds - Ostrum Euro Short Term Credit SI/A (EUR) 0.15% p.a. 0.10% p.a. 0.25% p.a. - SI/D (EUR) 0.15% p.a. 0.10% p.a. 0.25% p.a. -

N1/A (EUR) 0.27%p.a. 0.10% p.a. 0.37% p.a. - I/A (EUR) 0.30% p.a. 0.10% p.a. 0.40% p.a. -

I/D (EUR) 0.30% p.a. 0.10% p.a. 0.40% p.a. -

N/A (EUR) 0.30% p.a. 0.20% p.a. 0.50% p.a. -

R/A (EUR) 0.60%p.a. 0.20% p.a. 0.80% p.a. -

R/D (EUR) 0.60%p.a. 0.20% p.a. 0.80% p.a. -

RE/A (EUR) 1.20%p.a. 0.20% p.a. 1.40% p.a. -

NATIXIS AM Funds - Ostrum Euro Credit SI/A (EUR) 0.20% p.a. 0.10% p.a. 0.30% p.a. -

I/A (EUR) 0.50% p.a. 0.10% p.a. 0.60% p.a. -

N/A (EUR) 0.50% p.a. 0.20% p.a. 0.70% p.a. -

R/A (EUR) 0.80% p.a. 0.20% p.a. 1.00% p.a. -

R/D (EUR) 0.80% p.a. 0.20% p.a. 1.00% p.a. -

NATIXIS AM Funds - Ostrum Euro Inflation I/A (EUR) 0.35% p.a. 0.10% p.a. 0.45% p.a. -

I/D (EUR) 0.35% p.a. 0.10% p.a. 0.45% p.a. -

R/A (EUR) 0.60% p.a. 0.20% p.a. 0.80% p.a. -

NATIXIS AM Funds - Ostrum Euro Aggregate SI/A (EUR) 0.20% p.a. 0.10% p.a. 0.30% p.a. -

SI/D (EUR) 0.20% p.a. 0.10% p.a. 0.30% p.a. -

I/A (EUR) 0.50% p.a. 0.10% p.a. 0.60% p.a. -

I/D (EUR) 0.50% p.a. 0.10% p.a. 0.60% p.a. -

N/A (EUR) 0.50% p.a. 0.20%p.a. 0.70% p.a. -

R/A (EUR) 0.80% p.a. 0.20% p.a. 1.00% p.a. -

R/D (EUR) 0.80% p.a. 0.20% p.a. 1.00% p.a. - RE/A (EUR) 1.40% p.a. 0.20% p.a. 1.60% p.a. - RE/D (EUR) 1.40% p.a. 0.20% p.a. 1.60% p.a. - NATIXIS AM Funds - Ostrum Global Aggregate SI/A (USD) 0.25% p.a. 0.10% p.a. 0.35% p.a. -

I/A (H-EUR) 0.55% p.a. 0.10% p.a. 0.65% p.a. - NATIXIS AM Funds - Ostrum Credit Opportunities SI/A (EUR) 0.30% p.a. 0.10% p.a. 0.40% p.a. - I/A (EUR) 0.50% p.a. 0.10% p.a. 0.60% p.a. -

R/A (EUR) 0.80% p.a. 0.20% p.a. 1.00% p.a. -

RE/A (EUR) 1.10% p.a. 0.20% p.a. 1.30% p.a. -

RE/A (H-CHF) 1.10% p.a. 0.20% p.a. 1.30% p.a. -

NATIXIS AM Funds


Page 176



Management fees

Administration fees

Total (All-in fee)

Maximum indirect

Management fees

NATIXIS AM Funds - DNCA Global Convertible (formerly Ostrum Global Convertible Bonds) SI/A (USD) 0.50% p.a. 0.10% p.a. 0.60% p.a. - I/A (H-EUR) 0.75% p.a. 0.10% p.a. 0.85% p.a.

I/A (USD) 0.75% p.a. 0.10% p.a. 0.85% p.a. -

N/A (H-EUR) 0.90% p.a. 0.20% p.a. 1.10% p.a.

R/A (H-EUR) 1.40% p.a. 0.20% p.a. 1.60% p.a. - NATIXIS AM Funds - Ostrum Multi Asset Global Income SI/A (USD) 0.20% p.a. 0.10% p.a. 0.30% p.a. -

I/A (USD) 0.40% p.a. 0.10% p.a. 0.50% p.a. -

I/A (H-EUR) 0.40% p.a. 0.10% p.a. 0.50% p.a. -

I/D (H-EUR) 0.40% p.a. 0.10% p.a. 0.50% p.a. -

R/A (H-EUR) 0.60% p.a. 0.20% p.a. 0.80% p.a. -

R/D (H-EUR) 0.60% p.a. 0.20% p.a. 0.80% p.a. -

NATIXIS AM Funds - DNCA Euro Value Equity (formerly Ostrum Euro Value Equity) M/D (EUR) 0.80% p.a. 0.10% p.a. 0.90% p.a. -

I/A (EUR) 1.10% p.a. 0.10% p.a. 1.20% p.a. -

I/D (EUR) 1.10% p.a. 0.10% p.a. 1.20% p.a. -

R/A (EUR) 2.00% p.a. 0.20% p.a. 2.20% p.a. - NATIXIS AM Funds - Natixis Conservative Risk Parity I/A (EUR) 0.60% p.a. 0.10% p.a. 0.70% p.a. 0.40% p.a.

I/D (EUR) 0.60% p.a. 0.10% p.a. 0.70% p.a. 0.40% p.a.

R/A (EUR) 1.20% p.a. 0.20% p.a. 1.40% p.a. 0.40% p.a.

R/D (EUR) 1.20% p.a. 0.20% p.a. 1.40% p.a. 0.40% p.a.

RE/A (EUR) 1.80% p.a. 0.20% p.a. 2.00% p.a. 0.40% p.a.

RE/D (EUR) 1.80% p.a. 0.20% p.a. 2.00% p.a. 0.40% p.a.

NATIXIS AM Funds - Seeyond Multi Asset Conservative Growth Fund I/A (EUR) 0.50% p.a. 0.10% p.a. 0.60% p.a. -

R/A (EUR) 1.00% p.a. 0.20% p.a. 1.20% p.a. -

R/A (H-USD) 1.00% p.a. 0.20% p.a. 1.20% p.a. -

RE/A (EUR) 1.50% p.a. 0.20% p.a. 1.70% p.a. -

RE/D (EUR) 1.50% p.a. 0.20% p.a. 1.70% p.a. - NATIXIS AM Funds - Seeyond Multi Asset Diversified Growth Fund M/A (EUR) 0.15% p.a. 0.10% p.a. 0.25% p.a. -

SI/A NPF (EUR) 0.60% p.a. 0.10% p.a. 0.70% p.a. -

I/A (EUR) 0.70% p.a. 0.10% p.a. 0.80% p.a. -

I/D (EUR) 0.70% p.a. 0.10% p.a. 0.80% p.a. -

R/A (EUR) 1.40% p.a. 0.20% p.a. 1.60% p.a. - NATIXIS AM Funds - Seeyond Equity Factor Investing Europe (closed on November 04, 2020) SI/A (EUR) 0.30% p.a. 0.10% p.a. 0.40% p.a. -

I/A (EUR) 0.60% p.a. 0.10% p.a. 0.70% p.a. - NATIXIS AM Funds - Seeyond Europe Market Neutral SI/A (EUR) 0.30% p.a. 0.10% p.a. 0.40% p.a. -

SI/A (H-USD) 0.30% p.a. 0.10% p.a. 0.40% p.a. -

I/A (EUR) 0.50% p.a. 0.10% p.a. 0.60% p.a. -

NATIXIS AM Funds


Page 177



Management fees

Administration fees

Total (All-in fee)

Maximum indirect

Management fees

NATIXIS AM Funds - Seeyond Europe Minvol SI/D (EUR) 0.35% p.a. 0.10% p.a. 0.45% p.a. -

SI/A (EUR 0.35% p.a. 0.10% p.a. 0.45% p.a. -

N1/A (EUR) 0.65% p.a 0.10% p.a. 0.75% p.a. -

I/A (EUR) 0.65% p.a 0.10% p.a. 0.75% p.a. -

I/D (EUR) 0.65% p.a 0.10% p.a. 0.75% p.a. -

N/A (EUR) 0.65% p.a 0.20% p.a. 0.85% p.a. -

R/A (EUR) 1.60% p.a. 0.20% p.a. 1.80% p.a. -

R/A (H-USD) 1.60% p.a. 0.20% p.a. 1.80% p.a. -

R/D (EUR) 1.60% p.a. 0.20% p.a. 1.80% p.a. -

RE/A (EUR) 2.30% p.a. 0.20% p.a. 2.50% p.a. -

NATIXIS AM Funds - Seeyond US Minvol (closed on November 24, 2020) SI/A (USD) 0.35% p.a. 0.10% p.a. 0.45% p.a. -

I/A (USD) 0.65% p.a. 0.10% p.a. 0.75% p.a. -

NATIXIS AM Funds - Seeyond Global Minvol M/D (EUR) 0.30% p.a. 0.10% p.a. 0.40% p.a. -

SI/A (EUR) 0.35% p.a. 0.10% p.a. 0.45% p.a. -

N1/A (EUR) 0.65% p.a. 0.10% p.a. 0.75% p.a. -

I/A (EUR) 0.65% p.a. 0.10% p.a. 0.75% p.a. -

I/A (H-USD) 0.65% p.a. 0.10% p.a. 0.75% p.a. -

I/D (EUR) 0.65% p.a. 0.10% p.a. 0.75% p.a. -

N/A (EUR) 0.65% p.a 0.20% p.a. 0.85% p.a. -

R/A (EUR) 1.60% p.a. 0.20% p.a. 1.80% p.a. -

R/D (EUR) 1.60% p.a. 0.20% p.a. 1.80% p.a. -

R/A (H-USD) 1.60% p.a. 0.20% p.a. 1.80% p.a. -

RE/A (EUR) 2.30% p.a. 0.20% p.a. 2.50% p.a. - NATIXIS AM Funds - Seeyond Volatility Strategy (formerly Seeyond Equity Volatility Strategies) I/A (EUR) 0.60% p.a. 0.10% p.a. 0.70% p.a. -

N/A (EUR) 0.60% p.a. 0.20% p.a. 0.80% p.a.

R/A (EUR) 1.20% p.a. 0.20% p.a. 1.40% p.a. -

R/A (H-USD) 1.20% p.a. 0.20% p.a. 1.40% p.a. -

R/A (H-SGD) 1.20% p.a. 0.20% p.a. 1.40% p.a. - NATIXIS AM Funds - Ostrum Global Emerging Bonds SI/A (H-EUR) 0.40% p.a. 0.10% p.a. 0.50% p.a. -

SI/A (EUR) 0.40% p.a. 0.10% p.a. 0.50% p.a. -

I/A (USD) 0.70% p.a. 0.10% p.a. 0.80% p.a. -

I/A (H-EUR) 0.70% p.a. 0.10% p.a. 0.80% p.a. -

I/A (EUR) 0.70% p.a. 0.10% p.a. 0.80% p.a. -

N/A (H-EUR) 0.70% p.a 0.20% p.a. 0.90% p.a. -

R/A (USD) 1.10% p.a. 0.20% p.a. 1.30% p.a. -

R/A (EUR) 1.10% p.a. 0.20% p.a. 1.30% p.a. -

R/A (H-EUR) 1.10% p.a. 0.20% p.a. 1.30% p.a. - NATIXIS AM Funds - DNCA Global Emerging Equity (formerly Ostrum Global Emerging Equity) M/A (EUR) 0.80% p.a. 0.10% p.a. 0.90% p.a. -

I/A (EUR) 0.90% p.a. 0.10% p.a. 1.00% p.a. -

R/A (EUR) 1.50% p.a. 0.20% p.a. 1.70% p.a. -

NATIXIS AM Funds


Page 178


3. Management fees and Administration fees (continued):

Sub-funds Class of shares Management fees Administration fees

Total (All-in fee)

Maximum indirect

Management fees

NATIXIS AM Funds - DNCA Global Sport Equity Q/A (EUR) 0.15% p.a. 0.10% p.a. 0.25% p.a. -

I/A (EUR) 0.90% p.a. 0.10% p.a. 1.00% p.a. -

I/A (USD) 0.90% p.a. 0.10% p.a. 1.00% p.a.

R/A (EUR) 1.50% p.a. 0.20% p.a. 1.70% p.a. -

R/A (USD) 1.50% p.a. 0.20% p.a 1.70% p.a. A detail of the depositary fees charged to the sub-funds during the financial year which are included in the All-in fee is provided below:

Sub-funds Currency Depositary fees NATIXIS AM Funds - Ostrum Euro Bonds Opportunities 12 Months EUR -28,708.29 NATIXIS AM Funds - Ostrum Euro Short Term Credit EUR -249,540.32 NATIXIS AM Funds - Ostrum Euro Credit EUR -45,344.66 NATIXIS AM Funds - Ostrum Euro Inflation EUR -26,383.73 NATIXIS AM Funds - Ostrum Euro Aggregate EUR -173,139.56 NATIXIS AM Funds - Ostrum Global Aggregate USD -29,765.57 NATIXIS AM Funds - Ostrum Credit Opportunities EUR -19,476.75 NATIXIS AM Funds - DNCA Global Convertible Bonds (formerly Ostrum Global Convertible Bonds)

USD -35,590.09

NATIXIS AM Funds - Ostrum Multi Asset Global Income USD -38,592.83 NATIXIS AM Funds - DNCA Euro Value Equity (formerly Ostrum Euro Value Equity) EUR -30,806.13 NATIXIS AM Funds - Natixis Conservative Risk Parity EUR -29,828.37 NATIXIS AM Funds - Seeyond Multi Asset Conservative Growth Fund EUR -93,672.29 NATIXIS AM Funds - Seeyond Multi Asset Diversified Growth Fund EUR -67,426.47 NATIXIS AM Funds - Seeyond Equity Factor Investing Europe (closed on November 04, 2020) EUR -12,484.15 NATIXIS AM Funds - Seeyond Europe Market Neutral EUR -21,403.85 NATIXIS AM Funds - Seeyond Europe Minvol EUR -441,253.88 NATIXIS AM Funds - Seeyond US Minvol (closed on November 24, 2020) USD -14,313.11 NATIXIS AM Funds - Seeyond Global Minvol EUR -204,409.15 NATIXIS AM Funds - Seeyond Volatility Strategy (formerly Seeyond Equity Volatility Strategies) EUR -17,579.69

NATIXIS AM Funds - Ostrum Global Emerging Bonds USD -43,797.77 NATIXIS AM Funds - DNCA Global Emerging Equity (formerly Ostrum Global Emerging Equity)

EUR -142,254.66

NATIXIS AM Funds - DNCA Global Sport Equity USD -1,547.39 4. Performance fee: The Management Company is entitled to receive a performance fee applicable to certain share classes of certain sub-funds as disclosed in the SICAV’s prospectus. The performance fee is based on a comparison of the Value Asset and the Reference Asset.

The Value Asset is defined as the portion of the net assets corresponding to each share class, valued in accordance with the rules applicable to the assets and taking into account the All-in fee corresponding to the said share class excluding any swing pricing adjustment.

The Reference Asset is defined as the portion of the net assets corresponding to each share class, adjusted to take into account the subscription/redemption amounts applicable to the said share class at each valuation, and valued in accordance with the performance of the Reference Rate of the said share class. Except for sub-funds Ostrum Euro Bonds Opportunities 12 Months and DNCA Euro Value Equity (formerly Ostrum Euro Value Equity), sub-funds are subject to a yearly High Water Mark. At the beginning of each Observation Period, the Reference Asset used is the highest on the beginning of the first observation period and all the Valued Asset as recorded on the last full bank Business Day of the preceding Observation Periods since the inception of the Sub-Fund. This Reference Asset is adjusted to take into account the subscriptions/redemptions amounts occurring between the date of recording of the Reference Rate and the start of the new Observation Period.

NATIXIS AM Funds


Page 179


4. Performance fee (continued): The Reference rate is a percentage of the performance above the reference index as described hereafter: Sub-funds Reference index NATIXIS AM Funds - Ostrum Euro Bonds Opportunities 12 Months

20% of the performance above the daily capitalized EONIA: - + 0.90% for the SI share classes; - + 0.75% for the N1 share classes; - + 0.75% for the I share classes; - + 0.65% for the N share classes; - + 0.50% for the R share classes; - + 0.30% for the RE share classes. or 20% of the performance above the Reference index daily capitalized EONIA adjusted to the difference between the share class currency interest rate (LIBOR 1 month) and the Euro zone interest rate (Euribor 1 month): - + 0.90% for the SI H share classes; - + 0.75% for the I H share classes; - + 0.65% for the N H share classes.

NATIXIS AM Funds - Ostrum Credit Opportunities

20% of the performance above the daily capitalized EONIA: - +3.20% for the SI share classes; - +3.00% for the I share classes; - +2.90% for the N share classes; - +2.60% for the R share classes; - +2.30% for the RE share classes. or 20% of the performance above the Reference index daily capitalized EONIA adjusted to the difference between the share class currency interest rate (LIBOR 1 month) and the Euro zone interest rate (Euribor 1 month): - +3.20% for the SI H share classes; - +3.00% for the I H share classes; - +2.90% for the N H share classes; - +2.60% for the R H share classes; - +2.30% for the RE H share classes.

NATIXIS AM Funds - DNCA Global Convertible Bonds (formerly Ostrum Global Convertible Bonds)

20% of the performance above the reference Thomson Reuters Convertible Global Focus USD Hedged Index. The performance fee applies to all existing share classes of the sub-fund.

NATIXIS AM Funds - DNCA Euro Value Equity (formerly Ostrum Euro Value Equity)

20% of the performance above the reference index MSCI EMU Dividend Net Reinvested. The performance fee applies to all existing share classes of the sub-fund except for the M/D(EUR) share class.

NATIXIS AM Funds - Seeyond Multi Asset Conservative Growth Fund

20% of the performance above the daily capitalized EONIA: - +3.60% for the I share classes; - +3.50% for the N share classes; - +3.00% for the R share classes; - +2.50% for the RE share classes; - +2.50% for the CW share classes. For hedged share classes, 20% of the performance above the Reference Index the capitalized EONIA adjusted to the difference between the share class currency interest rate (LIBOR 1 month) and the Euro zone interest rate (Euribor 1 month): - +3.60% for the I H share classes; - +3.50% for the N H share classes; - +3.00% for the R H share classes; - +2.50% for the RE H share classes; - +2.50% for the CW H share classes.

NATIXIS AM Funds


Page 180


4. Performance fee (continued): Sub-funds Reference index NATIXIS AM Funds - Seeyond Multi Asset Diversified Growth Fund

20% of the performance above the daily capitalized EONIA: - +6.20% for the SI share classes; - +6.00% for the I share classes; - +5.90% for the N share classes; - +5.20% for the R share classes;

- +4.50% for the RE share classes; - +4.50% for the CW share classes. For hedged share classes, 20% of the performance above the Reference Index the capitalized EONIA adjusted to the difference between the share class currency interest rate (LIBOR 1 month) and the Euro zone interest rate (Euribor 1 month): - +6.20% for the SI share classes; - +6.00% for the I H share classes; - +5.90% for the N H share classes; - +5.20% for the R H share classes; - +4.50% for the RE H share classes; - +4.50% for the CW H share classes.

NATIXIS AM Funds - Seeyond Europe Market Neutral

20% of the performance above the daily capitalized EONIA: - +1.20% for the SI and SIH share classes; - +1.00% for the I and IH share classes; - +0.90% for the N and NH share classes; - +0.40% for the R and RH share classes; - reference index for the RE and REH share classes.

In case of redemption, the due share of performance fee corresponding to the number of shares which have been redeemed is crystallised and payable to the Management Company. 5. Taxe d’abonnement: The SICAV is not subject to any Luxembourg stamp tax or other duty payable on the issuance of shares. The SICAV is subject to the Luxembourg “taxe d’abonnement” at the following rates: - 0.01% per year of each sub-fund’s net asset value with respect to class I shares, class M shares, class Q shares and class

SI shares; and - 0.05% per year of each Sub-Fund’s net asset value with respect to class R Shares, class RE Shares, class CW Shares,

class N1 Shares, and class N Shares. That tax is calculated and payable quarterly. The value of assets represented by investments in other Luxembourg UCIs which have already been subject to the “taxe d’abonnement” is exempted.

NATIXIS AM Funds


Page 181


6. Dividends paid: During the year ended June 30, 2021, the following sub-funds distributed a dividend : • with ex-date as at July 20, 2020 and payment date as at July 24, 2020 : Sub-funds Class of shares Dividend per share Currency Natixis AM Funds - Ostrum Euro Short Term Credit I/D (EUR) 38.2015 EUR SI/D (EUR) 0.4255 EUR R/D (EUR) 0.2893 EUR Natixis AM Funds - Ostrum Euro Credit R/D (EUR) 0.0783 EUR Natixis AM Funds - Ostrum Euro Aggregate I/D (EUR) 278.5830 EUR R/D (EUR) 0.1523 EUR SI/D (EUR) 0.3021 EUR Natixis AM Funds - Natixis Conservative Risk Parity I/D (EUR) 132.6190 EUR R/D (EUR) 1.1503 EUR RE/D (EUR) 0.6269 EUR Natixis AM Funds - Ostrum Multi Asset Global Income I/D (H-EUR) 0.1725 EUR Natixis AM Funds - DNCA Euro Value Equity M/D (EUR) 677.4091 EUR I/D (EUR) 109.1478 EUR Natixis AM Funds - Seeyond Europe Minvol I/D (EUR) 1,037.0311 EUR R/D (EUR) 0,5989 EUR SI/D (EUR) 1,352.6463 EUR Natixis AM Funds - Seeyond Global Minvol I/D (EUR) 1.9213 EUR R/D (EUR) 0.6067 EUR SI/D (EUR) 310.0204 EUR • with ex-date as at July 29, 2020 and payment date as at August 3, 2020 : Sub-funds Class of shares Dividend per share Currency Natixis AM Funds - Ostrum Multi Asset Global Income R/D (H-EUR) 1.1162 EUR • with ex-date as at August 20, 2020 and payment date as at August 27, 2020 : Sub-funds Class of shares Dividend per share Currency Natixis AM Funds - Ostrum Multi Asset Global Income I/D (H-EUR) 0.1831 EUR • with ex-date as at September 18, 2020 and payment date as at September 24, 2020 : Sub-funds Class of shares Dividend per share Currency Natixis AM Funds - Ostrum Multi Asset Global Income I/D (H-EUR) 0.1834 EUR • with ex-date as at October 20, 2020 and payment date as at October 26, 2020 : Sub-funds Class of shares Dividend per share Currency Natixis AM Funds - Ostrum Multi Asset Global Income I/D (H-EUR) 0.1818 EUR Natixis AM Funds - Ostrum Euro Credit R/D (EUR) 0.1106 EUR Natixis AM Funds - Ostrum Euro Short Term Credit I/D (EUR) 40.8053 EUR R/D (EUR) 0.3085 EUR SI/D (EUR) 0.4528 EUR Natixis AM Funds - Ostrum Euro Aggregate I/D (EUR) 383.6927 EUR R/D (EUR) 0.2599 EUR RE/D (EUR) 0.0346 EUR SI/D (EUR) 0.3900 EUR Natixis AM Funds - Natixis Conservative Risk Party I/D (EUR 105.2610 EUR R/D (EUR) 0.9125 EUR RE/D (EUR) 0.4990 EUR • with ex-date as at November 19, 2020 and payment date as at November 26, 2020 Sub-funds Class of shares Dividend per share Currency Natixis AM Funds - Ostrum Multi Asset Global Income I/D (H-EUR) 0.1810 EUR

NATIXIS AM Funds


Page 182


6. Dividends paid (continued): • with ex-date as at December 22, 2020 and payment date as at December 28, 2020 : Sub-funds Class of shares Dividend per share Currency Natixis AM Funds - Ostrum Multi Asset Global Income I/D (H-EUR) 0.1894 EUR • with ex-date as at January 15, 2021 and payment date as at January 21, 2021 : Sub-funds Class of shares Dividend per share Currency Natixis AM Funds - Ostrum Euro Short Term Credit I/D (EUR) 44.8127 EUR R/D (EUR) 0.3512 EUR SI/D (EUR) 0.4931 EUR Natixis AM Funds - Ostrum Euro Credit R/D (EUR) 0.2860 EUR Natixis AM Funds - Ostrum Euro Aggregate I/D (EUR) 300.3260 EUR R/D (EUR) 0.1678 EUR SI/D (EUR) 0.3234 EUR Natixis AM Funds - Natixis Conservative Risk Party I/D (EUR 133.2647 EUR R/D (EUR) 1.1549 EUR RE/D (EUR) 0.6328 EUR • with ex-date as at January 21, 2021 and payment date as at January 28, 2021 : Sub-funds Class of shares Dividend per share Currency Natixis AM Funds - Ostrum Multi Asset Global Income I/D (H-EUR) 0.1916 EUR • with ex-date as at February 19, 2021 and payment date as at February 26, 2021 : Sub-funds Class of shares Dividend per share Currency Natixis AM Funds - Ostrum Multi Asset Global Income I/D (H-EUR) 0.1870 EUR • with ex-date as at March 19, 2021 and payment date as at March 26, 2021 : Sub-funds Class of shares Dividend per share Currency Natixis AM Funds - Ostrum Multi Asset Global Income I/D (H-EUR) 0.1868 EUR • with ex-date as at April 16, 2021 and payment date as at April 21, 2021 : Sub-funds Class of shares Dividend per share Currency Natixis AM Funds - Ostrum Euro Short Term Credit I/D (EUR) 37.8603 EUR R/D (EUR) 0.2811 EUR SI/D (EUR) 0.4220 EUR Natixis AM Funds - Ostrum Euro Credit R/D (EUR) 0.0561 EUR Natixis AM Funds - Ostrum Multi Asset Global Income I/D (H-EUR) 0.1850 EUR Natixis AM Funds - Ostrum Euro Aggregate I/D (EUR) 323.4369 EUR R/D (EUR) 0.1969 EUR SI/D (EUR) 0.3399 EUR Natixis AM Funds - Natixis Conservative Risk Party I/D (EUR 77.9343 EUR R/D (EUR) 0.6748 EUR RE/D (EUR) 0.3712 EUR Natixis AM Funds - Ostrum Euro Inflation I/D (EUR) 0.0128 EUR • with ex-date as at May 12, 2021 and payment date as at May 19, 2021 : Sub-funds Class of shares Dividend per share Currency Natixis AM Funds - Ostrum Multi Asset Global Income I/D (H-EUR) 0.1000 EUR • with ex-date as at June 18, 2021 and payment date as at June 25, 2021 : Sub-funds Class of shares Dividend per share Currency Natixis AM Funds - Ostrum Multi Asset Global Income I/D (H-EUR) 0.1040 EUR

NATIXIS AM Funds


Page 183


7. Credit Default Swaps:

As at June 30, 2021, the open positions on Credit Default Swaps (CDS) are as follows:

NATIXIS AM Funds - Ostrum Euro Short Term Credit

CDS on securities

Descriptions/ underlying

Protection Buyer/ Seller

Currency Notional Maturity Counterparty Unrealised result

(in EUR) LVMH MOET HENNESSY LOUIS VUITTON SELL EUR 10,000,000 20/06/22

SGR SOCIETE GENERALE PARIS 91,943.00

VODAFONE AG SELL EUR 4,000,000 20/12/22 SGR SOCIETE GENERALE PARIS 48,885.00

VODAFONE AG SELL EUR 8,000,000 20/12/22 BNP-PARIBAS SA PARIS 97,769.00

LVMH MOET HENNESSY LOUIS VUITTON SELL EUR 10,000,000 20/12/22

BARCLAYS BANK IRELAND PLC 135,970.00

374,567.00

CDS on index




(in EUR)

ITRAXX SUB FIN S34 V1 MKT BUY EUR 30,000,000 20/12/25 BNP-PARIBAS SA PARIS -120,875.00

-120,875.00

Collateral positions as at June 30, 2021, if any, are detailed in Note 12. NATIXIS AM Funds - Ostrum Euro Credit

CDS on securities




(in EUR)

KERING 1.25 16-2 SELL EUR 2,000,000 20/06/24 JP MORGAN AG FRANKFURT 51,681.00

51,681.00 Collateral positions as at June 30, 2021, if any, are detailed in Note 12.

NATIXIS AM Funds - Ostrum Euro Aggregate

CDS on index




(in EUR)

ITRAXX XOVER S35 V1 MKT BUY EUR 5,000,000 20/06/26 BNP-PARIBAS SA PARIS -620,607.50

ITRAXX EUROPE S34 V1 MKT BUY USD 8,000,000 20/12/25JP MORGAN AG FRANKFURT 232,977.49

ITRAXX SUB FINANCIALS S35 V1 MKT BUY EUR 2,000,000 20/06/26

BNP-PARIBAS SA PARIS 2,780.01

-384,850

Collateral positions as at June 30, 2021, if any, are detailed in Note 12. NATIXIS AM Funds - Ostrum Global Aggregate

CDS on index Descriptions/ underlying



(in USD)

ITRAXX XOVER S35 V1 MKT BUY EUR 500,000 20/06/26 JP MORGAN AG FRANKFURT -73,598.14

-73,598.14

NATIXIS AM Funds


Page 184


Collateral positions as at June 30, 2021, if any, are detailed in Note 12. NATIXIS AM Funds - Ostrum Credit Opportunities

CDS on securities




(in EUR)

XNAIG S 34 V1 MKT SELL USD 2,000,000 20/06/25 BNP-PARIBAS SA PARIS 34,443.88

VALEO EMTN 3.25 14-2 SELL EUR 1,000,000 20/12/22 SGR SOCIETE GENERALE PARIS 6,756.00

FORD MOTOR CO 6.50 98-1 SELL USD 1,000,000 20/12/21 BNP-PARIBAS SA PARIS 16,433.93

CASINO GUICHARD FL.R 12-1 SELL EUR 1,000,000 20/12/21 BARCLAYS BANK IRELAND PLC -1,173.00

ACCOR SA 2.625 14-2 BUY EUR 1,000,000 20/12/23 JP MORGAN AG FRANKFURT -3,804.00

BAYER 1.875 14-2 BUY EUR 1,000,000 20/06/25 BOFA SECURITIES EUROPE SA FIC -22,353.00

SIMON PROPERTY LP 2.75 17-23 BUY USD 1,000,000 20/06/25 GOLDMAN SACHS INTERN. -15,344.46

14,959.35 Collateral positions as at June 30, 2021, if any, are detailed in Note 12. NATIXIS AM Funds – Ostrum Global Emerging Bonds

CDS on index




(in EUR)

XEM S35 V1 MKT BUY USD 3,000,000 20/06/26 JP MORGAN AG

FRANKFURT 78,048.00 78,048.00

Collateral positions as at June 30, 2021, if any, are detailed in Note 12. 8. Cross Currency Interest Rate Swaps As at June 30, 2021, the open positions on Cross Currency Interest Rate Swaps (CIRS) are as follows: NATIXIS AM Funds - Ostrum Euro Short Term Credit

FLOW RECEIVED FLOW PAID Counterparty Unrealised result

Maturity date

Currency Notional Rate

received Currency Notional Rate paid (in EUR)

08/08/23 EUR 4,148,344.81 1.545 USD 5,000,000.00 6.5 JP MORGAN AG FRANKFURT -423,129.74

12/09/23 EUR 7,212,600.41 0.14 USD 8,000,000.00 4 JP MORGAN AG FRANKFURT 45,742.81

-377,386.93 NATIXIS AM Funds - Ostrum Euro Credit

FLOW RECEIVED FLOW PAID Counterparty Unrealised result

Maturity date

Currency Notional Rate

received Currency Notional Rate paid (in EUR)

04/01/24 EUR 1,695,873.38 1.405 GBP 1,500,000.00 8.625

SGR SOCIETE GENERALE PARIS -329,084.59

14/08/24 EUR 1,815,840.00 1.085 GBP 1,600,000.00 5.625 JP MORGAN AG FRANKFURT -257,643.49

-586,728.08

NATIXIS AM Funds


Page 185


9. Securities lending: As at June 30, 2021, the following sub-funds entered into securities lending transactions:

NATIXIS AM Funds - Ostrum Euro Short Term Credit:

Market value of securities on loan (in EUR)

Counterparty Collateral received in cash (in EUR)

2,518,725.00 Natixis Asset Management Finance 2,696,729.00 2,696,729.00 NATIXIS AM Funds - Ostrum Euro Credit



199,635.34 Natixis Asset Management Finance 176,564.40 176,564.40 NATIXIS AM Funds - Ostrum Euro Aggregate:



103,840,214.45 Natixis Asset Management Finance 1,943,014.60 1,943,014.60

NATIXIS AM Funds - Seeyond Europe Minvol:



12,144,682.67 Natixis Asset Management Finance 12,205,905.08 12,205,905.08

NATIXIS AM Funds - Seeyond Global Minvol:



15,530,337.84 Natixis Asset Management Finance 15,597,427.94 15,597,427.94 The cash received as collateral as at June 30, 2021 was not reinvested.

Income generated by securities lending:

Sub-funds Currency Total gross amount

on securities lending income

Direct-indirect cost on securities

lending income

Total net amount on securities lending income

NATIXIS AM Funds - Ostrum Euro Bonds Opportunities 12 Months EUR 4,452.32 1,780.93 2,671.39

NATIXIS AM Funds - Ostrum Euro Short Term Credit EUR 15,054.45 6,021.78 9,032.67 NATIXIS AM Funds - Ostrum Euro Credit EUR 3,254.57 1,301.83 1,952.74 NATIXIS AM Funds - Ostrum Euro Inflation EUR 193.07 77.23 115.84 NATIXIS AM Funds - Ostrum Euro Aggregate EUR 102,879.32 41,151.73 61,727.59 NATIXIS AM Funds - Ostrum Global Aggregate EUR 2,180.53 872.21 1,308.32 NATIXIS AM Funds - DNCA Global Convertible Bonds USD 2,545.32 1,018.13 1,527.19 NATIXIS AM Funds - DNCA Euro Value Equity EUR 632.77 253.11 379.66 NATIXIS AM Funds - Seeyond Europe Minvol EUR 82,784.17 33,113.67 49,670.50 NATIXIS AM Funds - Seeyond Global Minvol EUR 57,273.17 22,909.27 34,363.90 NATIXIS AM Funds - Ostrum Global Emerging Bonds USD 3,608.48 1,443.39 2,165.09 NATIXIS AM Funds - DNCA Global Emerging Equity EUR 3,461.82 1,384.73 2,077.09

NATIXIS AM Funds


Page 186


10. Repurchase transactions: During the year ended June 30, 2021, the below sub-funds entered into repurchase transactions.

The amounts received as collateral in the context of such transactions (amounts borrowed) were recorded in the caption cash at bank and liquidities and in the caption as payable for repurchase transactions in the statement of net assets. NATIXIS AM Funds - Ostrum Euro Bonds Opportunities 12 Months :

Denomination of underlying securities

Currency Amountsborrowed(in EUR)

Maturity date

Market value of underlying

securities as at 30/06/20

(in EUR)

Counterparty

AUSTRIA 0.00 16-23 15/07U EUR 4,050,000.00 15/07/23 4,052,320.00 NAM Finance 4,050,000.00 4,052,320.00

NATIXIS AM Funds - Seeyond Multi Asset Diversified Growth Fund :



Maturity date

Market value of underlying securities

as at 30/06/20 (in EUR)

Counterparty

GERMANY 1.00 14-24 EUR 14,954,800.00 15/08/24 14,750,260.00 NAM Finance

14,954,800.00 14,750,260.00

NATIXIS AM Funds – Ostrum Global Aggregate :



Maturity date



(in EUR)

Counterparty

SPAIN 4.70 09-41 30 EUR 604,494.97 30/07/41 604,494.97 NAM Finance 604,494.97 604,494.97

NATIXIS AM Funds - Ostrum Euro Credit:



Maturity date



(in EUR)

Counterparty

ENI SPA 1.0000 19-34 11/10A EUR 1,341,860.00 11/10/34 1,321,112.00 NAM FinanceSNAM SPA 0.75 20-30 17/06A EUR 510,750.00 17/06/30 519,373.58 NAM FinanceSNAM SPA 0.75 20-30 17/06A EUR 511,566.00 17/06/30 508,120.00 NAM FinanceEATON CAPITAL UNLTD 0.577 21/30 08/03A EUR 1,100,339.40 08/03/30 1,102,772.61 NAM FinanceKONINKLIJKE AHOLD DEL 0.375 21-30 18/03A EUR 992,000.00 18/03/30 994,020.00 NAM Finance TRASMISSIONNE ELETTRI 0.375 21-29 23/06A EUR 993,006.00 23/06/29 999,419.58 NAM Finance

5,449,521.40 5,444,817.77

NATIXIS AM Funds


Page 187


NATIXIS AM Funds - Ostrum Euro Short Term Credit:



Maturity date



(in EUR)

Counterparty

AXA SA 5.125 13-43 04/07A EUR 1,632,000.00 04/07/43 1,705,852.50 NAM Finance

AXA SA FL.R 14-XX 08/10A EUR 506,700.00 08/10/49 1,582,294.00 NAM Finance

UNICREDIT FL.R 14-XX 10/09S EUR 1,194,600.00 10/09/49 1,137,521.72 NAM Finance

BANCO SANTANDER SA 2.50 15-25 18/03A EUR 1,072,800.00 18/03/25 1,082,780.00 NAM Finance

TELEFONICA EUROPE BV FL.R 17-XX 07/06M EUR 1,105,200.00 31/12/49 1,023,600.00 NAM Finance

UNIBAIL RODAMCO FL.R 18-XX 25/10A EUR 1,011,800.00 31/12/49 1,985,700.00 NAM Finance

UNIBAIL RODAMCO FL.R 18-XX 25/10A EUR 606,240.00 31/12/49 496,425.00 NAM Finance

BANCO BILBAO VI FL.R 18-XX 24/03Q EUR 864,800.00 31/12/49 1,081,950.00 NAM Finance

EDF FL.R 18-99 04/10A EUR 1,823,400.00 01/01/99 1,608,345.00 NAM Finance

CAIXABANK SA FL.R 19-29 15/02A EUR 465,000.00 15/02/29 1,186,493.00 NAM Finance

CAIXABANK SA FL.R 19-29 15/02A EUR 726,642.48 15/02/29 862,904.00 NAM Finance

BANCO DE SABADELL SA 1.75 19-24 10/05A EUR 1,244,160.00 10/05/24 726,726.00 NAM Finance

EASYJET PLC 0.8750 19-25 11/06 EUR 2,135,070.00 11/06/25 1,003,070.00 NAM Finance

EASYJET PLC 0.8750 19-25 11/06 EUR 1,244,160.00 11/06/25 601,842.00 NAM Finance

HARLEY-DAVIDSON FIN 0.90 19-24 19/11A EUR 1,373,856.00 19/11/24 1,760,342.06 NAM Finance

CREDIT AGRICOLE FL.R 20-30 05/06A EUR 1,095,000.00 05/06/30 1,247,580.00 NAM Finance

CREDIT AGRICOLE FL.R 20-30 05/06A EUR 9,090,460.00 05/06/30 1,247,580.00 NAM Finance

BANCO BPM SPA FL.R 20-30 14/09A EUR 2,201,199.00 14/09/30 1,095,200.00 NAM Finance

NISSAN MOTOR CO 1.94 20-23 15/09A EUR 1,709,340.00 15/09/23 1,355,733.07 NAM Finance

COMMERZBANK AG FL.R 20-26 24/03A EUR 500,000.00 24/03/26 509,470.00 NAM Finance

COMMERZBANK AG FL.R 20-26 24/03A EUR 1,761,271.40 24/03/26 2,139,774.00 NAM Finance

DEUTSCHE BANK AG 1.00 -25 19/11A EUR 1,603,200.00 19/11/25 9,089,659.00 NAM Finance

SAFRAN SA 0.1250 21-26 16/03A EUR 1,577,240.00 16/03/26 501,120.00 NAM Finance

SAFRAN SA 0.1250 21-26 16/03A EUR 1,143,108.00 16/03/26 1,603,584.00 NAM Finance

BALDER FINLAND FL.R 21-23 14/06Q EUR 1,024,700.00 14/06/23 2,203,002.18 NAM Finance 38,711,946.88 38,838,547.53

Cash collateral paid as at June 30, 2021, if any, in the context of the above Repurchase agreements contracts is as follows:

Counterparty Currency Collateral amount paid

Natixis Asset Management Finance EUR 467,000.00 467,000.00

NATIXIS AM Funds - Ostrum Euro Inflation :



Maturity date


as at 30/06/21 (in EUR)

Counterparty

ITALY 3.10 11-26 15/09S EUR -2,970,527.66 15/09/26 2,970,220.77 NAM Finance FRANCE 0.25 13-24 25/07A EUR -2,118,928.59 25/07/24 2,097,041.27 NAM Finance SPAIN 1.80 13-24 30/11A EUR -1,394,693.30 30/11/24 1,383,232.87 NAM Finance FRANCE 0.10 19-29 01/03A EUR -199,999.67 01/03/29 199,177.59 NAM Finance

-6,684,149.22 6,649,672.50

NATIXIS AM Funds


Page 188


NATIXIS AM Funds - Ostrum Euro Aggregate:



Maturity date



(in EUR)

Counterparty

SPAIN 5.15 13-44 31/10A EUR 634,500.00 31/10/44 9,039,050.00 NAM Finance FRANCE 2.50 13-30 25/05A EUR 1,072,800.00 25/05/30 1,227,440.00 NAM Finance PORTUGAL 3.875 14-30 15/02A EUR 664,980.00 15/02/30 7,302,671.14 NAM Finance UBI BANCA 1.25 14-25 07/02A EUR 910,720.00 07/02/25 1,058,500.00 NAM Finance PROLOGIS INTL FUND II 1.876 15-25 17/04A EUR 944,910.00 17/04/25 1,608,630.00 NAM Finance ABERTIS INFRAESTRUCT 1.375 16-26 20/05A EUR 904,140.00 20/05/26 523,900.00 NAM Finance EFSF 1.80 17-48 10/07A EUR 1,082,500.00 10/07/48 1,291,800.00 NAM Finance ISS GLOBAL A/S 1.50 17-27 31/08A EUR 1,405,483.20 31/08/27 518,555.00 NAM Finance BANCO SANTANDER TOTTA 1.25 17-27 26/09A EUR 1,131,130.00 26/09/27 653,076.00 NAM Finance SLOVAKIA 2.00 17-47 17/10A EUR 1,512,041.30 17/10/47 631,555.00 NAM Finance SNCF RESEAU 2.00 18-48 05/02A EUR 1,265,900.00 05/02/48 592,630.00 NAM Finance CASSA DEPOSITI 1.875 18-26 07/02A EUR 637,300.00 07/02/26 1,076,190.00 NAM Finance MIZUHO FINANCIAL GR 1.0200 18-23 11/10A EUR 1,090,100.00 11/10/23 1,130,415.00 NAM Finance CNP ASSURANCES 2.75 19-29 05/02A EUR 990,300.00 05/02/29 910,832.00 NAM Finance DEUTSCHE TELEKOM AG 0.50 19-27 05/07A EUR 891,180.00 05/07/27 1,125,883.00 NAM Finance HELLENIC REPUBLIC 1.875 19-26 23/07A EUR 1,122,550.00 23/07/26 4,368,040.00 NAM Finance MOLNLYCKE HLDG 0.875 19-29 05/09A EUR 520,650.00 05/09/29 1,508,338.77 NAM Finance INTESA SANPAOLO 1.00 19-26 19/11A EUR 9,775,500.00 19/11/26 929,273.38 NAM Finance BANCO BILBAO VIZCAYA FL.R 20-30 16/01A EUR 7,298,239.23 16/01/30 905,670.00 NAM Finance EUROPEAN FINANCIAL 0.7 20-50 20/01A EUR 518,750.00 20/01/50 1,017,000.00 NAM Finance EUROPEAN FINANCIAL 0.7 20-50 20/01A EUR 923,074.50 20/01/50 915,300.00 NAM Finance IBM CORP 0.65 20-32 11/02A EUR 1,939,900.00 11/02/32 898,542.00 NAM Finance AGENCE FRANCAIS 0.5000 20-30 25/05A EUR 438,650.00 25/05/30 1,343,420.00 NAM Finance

NATIXIS AM Funds


Page 189


10. Repurchase transactions (continued): NATIXIS AM Funds - Ostrum Euro Aggregate (continued): Denomination of underlying securities


Maturity date



(in EUR)

Counterparty

ESSILORLUXOTTICA 0.375 19-27 27/11A EUR 964,700.00 05/06/28 1,234,224.00 NAM Finance ESSILORLUXOTTICA 0.375 19-27 27/11A EUR 523,500.00 05/06/28 822,816.00 NAM Finance INFINEON TECHNO 1.1250 20-26 24/06A EUR 709,237.80 24/06/26 522,870.00 NAM Finance ASSICURAZ GENERALI 2.429 20-31 14/07A EUR 1,300,600.00 14/07/31 195,403.98 NAM Finance VODAFONE GROUP 3.0 20-80 27/08A EUR 1,344,213.46 27/08/80 1,544,895.00 NAM Finance GERMANY 0.0000 20-30 15/08A EUR 199,100.00 15/08/30 1,962,681.00 NAM Finance HOLDING D'INFRA 1.625 20-29 18/09A EUR 199,388.80 18/09/29 949,455.00 NAM Finance CREDIT AGRICOLE FL.R 20-49 31/12Q EUR 4,446,000.00 31/12/49 1,094,350.00 NAM Finance SLOVENIA GOVERNMENT 0.4875 20-50 20/10A EUR 1,612,950.00 20/10/50 454,455.00 NAM Finance SLOVENIA GOVERNMENT 0.4875 20-50 20/10A EUR 898,110.00 20/10/50 999,801.00 NAM Finance FERROVIAL EMISIONES0.54 20-28 12/11A EUR 1,580,250.00 12/11/28 905,958.00 NAM Finance HSBC HOLDINGS PLC 0.309 20-26 13/11A EUR 905,670.00 13/11/26 1,406,618.01 NAM Finance HOLCIM FINANCE 0.5000 20-31 23/04A EUR 1,212,000.00 23/04/31 636,636.00 NAM Finance COMMUNAUTE EUROPEENNE BRU 20-35 04/07A

EUR 623,870.00 04/07/35 198,825.12 NAM Finance

EUROPEAN UNION 0.00 21-28 02/06A EUR 1,236,360.00 02/06/28 708,763.16 NAM Finance SAFRAN SA 0.7500 21-31 17/03A EUR 1,236,360.00 17/03/31 1,220,436.00 NAM Finance 56,667,608.29 55,434,898.56

Cash collateral paid as at June 30, 2021 in the context of the above Repurchase agreements contracts is as follows: Counterparty Currency Collateral amount

paid Natixis Asset Management Finance EUR 1,895,000.00 1,895,000.00 NATIXIS AM Funds - Seeyond Multi Asset Conservative Growth Fund :



Maturity date


as at 30/06/21 (in EUR)

Counterparty

GERMANY 3.25 10-42 04/07A EUR 17,132,000.00 04/07/42 16,569,400.00 NAM Finance GERMANY 1.00 14-24 15/08A EUR 16,030,500.00 15/08/24 15,803,850.00 NAM Finance

33,162,500.00 32,373,250.00

Cash collateral paid as at June 30, 2021 in the context of the above Repurchase agreements contracts is as follows:

Counterparty Currency Collateral amount paid

Natixis Asset Management Finance EUR 511,000.00 511,000.00 The gross income on the repurchase transactions corresponds to interest received in relation with the investment of the amounts borrowed in the context of the repurchase transactions activity. The interest is booked in the statement of operations and changes in net assets under the captions “Bank interest on cash account”, “Income on repurchase transactions”, “Income on reverse repurchase transactions, net” or “Net interest on bonds” depending on the nature of the investment.

NATIXIS AM Funds


Page 190


Income generated by repurchase transactions Sub-funds Currency Total gross

amount Direct-indirect cost Total net

amount NATIXIS AM Funds - Ostrum Euro Bonds Opportunities 12 Months

EUR 42,741.08 17,096.43 25,644.65

NATIXIS AM Funds - Ostrum Euro Short Term Credit EUR 530,212.17 212,084.87 318,127.30 NATIXIS AM Funds - Ostrum Euro Credit EUR 189,369.40 75,747.76 113,621.64 NATIXIS AM Funds - Ostrum Euro Inflation EUR 46,049.27 18,419.71 27,629.56 NATIXIS AM Funds - Ostrum Euro Aggregate EUR 1,448,570.72 579,428.29 869,142.43 NATIXIS AM Funds - Ostrum Global Aggregate USD 10,959.43 4,383.77 6,575.66 NATIXIS AM Funds - DNCA Global Convertible Bonds USD 5,037.55 2,015.02 3,022.53 NATIXIS AM Funds - Seeyond Multi Asset Conservative Growth Fund

EUR 216,653.38 86,661.35 129,992.03

NATIXIS AM Funds - Seeyond Multi Asset Diversified Growth Fund

EUR 150,177.45 60,070.98 90,106.47

NATIXIS AM Funds - Seeyond Europe Minvol EUR 34,476.55 13,790.62 20,685.93 NATIXIS AM Funds - Seeyond Global Minvol USD 10,276.18 4,110.47 6,165.71 11. Reverse repurchase transactions: Income generated by reverse repurchase transactions ** Sub-funds Currency Total gross

amount Direct-indirect cost Total net

amount NATIXIS AM Funds - Ostrum Euro Aggregate EUR -784.07 -313.63 -470.44 NATIXIS AM Funds - Seeyond Global Minvol USD -2,177.83 -871.13 -1,306.70 ** Eonia negative rate

NATIXIS AM Funds


Page 191


12. Collateral Collateral on OTC derivatives :

As at June 30, 2021, the collateral received or paid which is composed of collateral held or paid in order to reduce exposure on OTC derivatives is detailed as follows:

Sub-funds Counterparty Currency Type Collateral received

Collateral paid

NATIXIS AM Funds - Seeyond Multi Asset Diversified Growth Fund

Société Générale EUR Cash 270,000.00

CACIB EUR Cash 353,000.00

J.P. Morgan EUR Cash 2,260,000.00

NATIXIS AM Funds - Ostrum Global Aggregate

Caceis Paris USD Cash 1,438,000.00

NATIXIS AM Funds - Ostrum Euro Credit


Chase EUR Cash 250,000.00

NATIXIS AM Funds - Ostrum Euro Short Term Credit

J.P. Morgan EUR Cash 430,000.00


Barclays EUR Cash 113,000.00

NATIXIS AM Funds - Ostrum Euro Aggregate

J.P. Morgan EUR Cash 280,000.00

BNP France EUR Cash 683,000.00

NATIXIS AM Funds - Ostrum Credit Opportunities

BNP France EUR Cash 60,000.00

NATIXIS AM Funds - Seeyond Multi Asset Conservative Growth Fund


Crédit Agricole EUR Cash 304,000.00

J.P. Morgan EUR Cash 2,260,000.00

NATIXIS AM Funds - Ostrum Multi Asset Global Income

Caceis Paris USD Cash 80,000.00

J.P. Morgan USD Cash 470,000.00

NATIXIS AM Funds - Ostrum Global Emerging Bonds

CACIB USD Cash 9,000.00

State Street Germany USD Cash 370,000.00

J.P. Morgan USD Cash 90,000.00

NATIXIS AM Funds


Page 192


13. Changes in the composition of the portfolio The details of the changes in portfolio composition during the year under review are held at the disposal of shareholders at the registered office of the SICAV and are available upon request free of charge. 14. Subsequents events There are no significant events for 2021.

NATIXIS AM Funds

Unaudited information

Page 193


Global risk exposure The “Commitment approach” : The global risk exposure of the following sub-funds is managed through the use of the Commitment approach method as described in the Prospectus of the SICAV: - NATIXIS AM Funds - Ostrum Euro Bonds Opportunities 12 Months - NATIXIS AM Funds - Ostrum Euro Short Term Credit - NATIXIS AM Funds - Ostrum Euro Credit - NATIXIS AM Funds - Ostrum Euro Inflation - NATIXIS AM Funds - Ostrum Euro Aggregate - NATIXIS AM Funds - DNCA Global Convertible Bonds (formerly Ostrum Global Convertible Bonds) - NATIXIS AM Funds - DNCA Euro Value Equity (formerly Ostrum Euro Value Equity) - NATIXIS AM Funds - Natixis Conservative Risk Parity - NATIXIS AM Funds - Seeyond Multi Asset Conservative Growth Fund - NATIXIS AM Funds - Seeyond Europe Market Neutral - NATIXIS AM Funds - Seeyond Europe Minvol - NATIXIS AM Funds - Seeyond Global Minvol - NATIXIS AM Funds - DNCA Global Emerging Equity (formerly Ostrum Global Emerging Equity) - NATIXIS AM Funds - DNCA Global Sport Equity (launched on March 24, 2021) The “Absolute VaR approach”: The following sub-funds use the Absolute Value at Risk (VaR) approach in order to monitor and measure the global exposure. NATIXIS AM Funds - Ostrum Credit Opportunities: The limit is set at 4.00%. The utilisation of the VaR limits during the financial period was as follows: - Lowest utilisation: 0.86% - Highest utilisation: 4.47% - Average utilisation: 2.43% The VaR figures have been calculated based on the following input data: - Model used: MC - Confidence level: 99% - Holding period: 1 month (20 business days) - Length of data history: 1Y The leverage of the sub-fund is the sum of the notionals of the derivatives used and amounted to 58.89%. NATIXIS AM Funds - Ostrum Multi Asset Global Income The limit is set at 20%. The utilisation of the VaR limits during the financial period was as follows: - Lowest utilisation: 1.06% - Highest utilisation: 5.96% - Average utilisation: 2.47%

NATIXIS AM Funds

Unaudited information (continued)

Page 194


Global risk exposure (continued) The VaR figures have been calculated based on the following input data: - Model used: MC - Confidence level: 99% - Holding period: 1 month (20 business days) - Length of data history: 1Y The leverage of the sub-fund is the sum of the notionals of the derivatives used and amounted to 144.24% NATIXIS AM Funds - Seeyond Multi Asset Diversified Growth Fund The limit is set at 20%. The utilisation of the VaR limits during the financial period was as follows: - Lowest utilisation: 2.66% - Highest utilisation: 10.10% - Average utilisation: 6.52% The VaR figures have been calculated based on the following input data: - Model used: MC - Confidence level: 99% - Holding period: 1 month (20 business days) - Length of data history: 1Y The leverage of the sub-fund is the sum of the notionals of the derivatives used and amounted to 411.35% NATIXIS AM Funds - Seeyond Volatility Strategy: The limit is set at 4.47%. The utilisation of the VaR limits during the financial period was as follows: - Lowest utilisation: 1.14% - Highest utilisation: 5.04% - Average utilisation: 2.73% The VaR figures have been calculated based on the following input data: - Model used: MC - Confidence level: 99% - Holding period: 1 day (1 business days) - Length of data history: 1Y This monitoring is equivalent to monitoring a 20% limit, confidence level 99%, and holding period 1 month (20 business days). The leverage of the sub-fund is the sum of the notionals of the derivatives used and amounted to 905.49%.

NATIXIS AM Funds


Page 195


Global risk exposure (continued) The “Relative VaR approach”: The sub-fund NATIXIS AM Funds - Ostrum Global Aggregate uses the Relative Value at Risk (VaR) approach in order to monitor and measure the global exposure. The calculation of the Relative VaR of the sub-fund is based on a reference portfolio which is constituted by the reference index, i.e. the JP Morgan EMBI Global Diversified index. The utilisation of the VaR limits during the financial period was as follows: - Lowest utilisation: 0.81 - Highest utilisation: 1.35 - Average utilisation: 1.10 The VaR figures have been calculated based on the following input data: - Model used: MC - Confidence level: 99% - Holding period: 1 month - Length of data history: 1Y The leverage of the sub-fund is based on the sum of the notionals of the derivatives used and amounted to 108.97%. The sub-fund NATIXIS AM Funds - Ostrum Global Emerging Bonds uses the Relative Value at Risk (VaR) approach in order to monitor and measure the global exposure. The calculation of the Relative VaR of the sub-fund is based on a reference portfolio which is constituted by the reference index, i.e. the JP Morgan EMBI Global Diversified index. The utilisation of the VaR limits during the financial period was as follows: - - Lowest utilisation: 1.05 - - Highest utilisation: 1.20 - - Average utilisation: 1.13 The VaR figures have been calculated based on the following input data: - - Model used: MC - - Confidence level: 99% - - Holding period: 1 month - - Length of data history: 1Y The leverage of the sub-fund is based on the sum of the notionals of the derivatives used and amounted to 8%.

NATIXIS AM Funds


Page 196


REMUNERATION POLICY APPENDIX TO THE MANAGEMENT REPORT

NATIXIS INVESTMENT MANAGERS INTERNATIONAL (FORMERLY OSTRUM ASSET MANAGEMENT, FORMERLY NATIXIS AM)

This NIMI remuneration policy consists of general principles applicable to all employees (see point I), specific principles applicable to employees identified by AIFM and UCITS V (see point II) and a governance mechanism applicable to all employees (see point III). It falls within the framework of the remuneration policy defined by Natixis and is established in compliance with the provisions relating to remuneration stipulated in the following regulatory texts, as well as the guidelines of the European Securities and Markets Authority (ESMA) and the positions of the Autorité des Marchés Financiers (AMF, the French Financial Markets Authority) resulting therefrom: - Directive 2011/61/EU of the European Parliament and of the Council of 8 June 2011 on Alternative Investment Fund Managers, transposed into the French Monetary and Financial Code by Order No. 2013-676 of 27 July 2013 (AIFM Directive) - Directive 2014/91/EU of the European Parliament and of the Council of 23 July 2014 on undertakings for collective investment in transferable securities, transposed into the French Monetary and Financial Code by Order No. 2016-312 of 17 March 2016 (UCITS V Directive). - Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments, transposed into the Monetary and Financial Code by Order No. 2016¬827 of 23 June 2016, supplemented by the Delegated Regulation 2017/565/EU of 25 April 2016 (MiFID II Directive). - Regulation (EU) 2019/2088 of the European Parliament and of the Council of 27 November 2019 on sustainability-related disclosures in the financial services sector I- GENERAL PRINCIPLES OF THE REMUNERATION POLICY The remuneration policy is a strategic aspect of the NIMI policy. As a tool to enhance employee motivation and commitment, it aims to be competitive and attractive in relation to the rest of the industry while fully complying with key financial indicators and regulations. NIMI's remuneration policy, which applies to all employees, counts the alignment of employees' interests with those of investors among its fundamental principles: - It is consistent and promotes sound and efficient risk management and does not encourage risk-taking that would be incompatible with the risk profiles, regulations or documents constituting the products managed. - It is in line with the economic strategy, objectives, values and interests of the Management Company and the products it manages, as well as those of investors, and includes measures aimed at preventing conflicts of interest. The remuneration policy covers all components of remuneration, which include fixed remuneration and, where applicable, variable remuneration. Fixed remuneration rewards skills, professional experience and level of responsibility. It takes into account market conditions. Variable remuneration depends on the assessment of collective performance, measured at both the level of the Management Company and the products managed and of individual performance. It considers quantitative and qualitative elements, which may be established on an annual or multi-year basis. I-1. Definition of performance The objective and transparent assessment of annual and multi-year performance based on predefined objectives is a prerequisite for applying the NIMI remuneration policy. It ensures the fair and selective treatment of employees. This evaluation is shared between the employee and their manager during an individual appraisal interview.

NATIXIS AM Funds


Page 197


The contribution and performance level of each employee are evaluated with regard to their duties, assignments and level of responsibility in the Management Company. In this context, the remuneration policy distinguishes several categories of staff: - The Management Committee is assessed on its contribution to the definition and implementation of the Management Company's strategy, this strategy being part of that of the international distribution platform and that of Dynamic Solutions. The Management Committee is also assessed on its ability to expand the performance of product and service offerings, on the performance of the distribution activity and, more generally, on the development of the group's multi-boutique model, as well as on the risk-adjusted financial performance within its scope of supervision. For this category, performance is assessed annually through quantitative indicators linked to changes in NIMI's financial results and supervised activities, as well as a contribution to the overall performance of NATIXIS IM. Performance is also assessed through the achievement of qualitative objectives, such as the quality of management and/or responsibility for/contribution to cross-functional projects. - Support functions are assessed on their ability to proactively support the strategic challenges of the Management Company. Individual performance is assessed annually through the achievement of qualitative objectives, such as the quality of recurring activity and/or the degree of participation in cross-functional projects or strategic/regulatory plans. These objectives are defined annually in accordance with those of NIMI, those of the international distribution platform and, where applicable, those of Dynamic Solutions. - Assessment of the performance of control functions is based on the evaluation of qualitative criteria only, such as participation in cross-functional projects or in strategic/regulatory plans, defined annually, to avoid compromising their independence or creating conflicts of interest with the activities they control. - The performance of management functions is assessed according to a quantitative criterion linked to the generation of value through allocation, supplemented by qualitative criteria. Quantitative criteria reflect the development issues of the management performance sought by investors without causing excessive risk-taking, which may have an impact on the risk profile of NIMI and the products managed. These quantitative criteria are calculated over a predefined period in line with the risk-adjusted performance horizon of the funds managed and of the Management Company. Specific criteria incorporating risks related to sustainability, i.e. social, environmental and governance issues, must be defined for all management team employees. - Assessment of the performance of real asset private debt management functions is based on two criteria (one quantitative, one qualitative), which if successfully met means that the interests of the Management Company and investor clients are both being served by the funds and strategies managed by the team. The quantitative criterion measures the amount of funds raised from investors and reflects each manager's involvement in the development of assets under management, which generate income for the business activity. The qualitative criterion is designed to ensure that investments made on behalf of clients have been made according to the strict application of the investment criteria defined with them. It also aims to ensure that the manager has performed an exhaustive and early analysis of the risk factors expected during the investment and throughout the entire holding period. In the event that any risk factor occurs, the relevance of the corrective measures, which are to be carried out diligently and in the sole interest of the investor, will be taken into account. In other words, this criterion does not penalise the manager for the occurrence of a credit event (credit risk is in fact inherent to this business activity). It aims to ensure clients that an exhaustive analysis of the risks and their mitigation factors has been carried out ab initio, followed by a control process conducted for the duration of the holding period. This enables a well-considered and effective response to be implemented in the event of a credit event in order to neutralise or limit the impact for investors. - Assessment of the performance of the distribution functions is based on the evaluation of quantitative and qualitative criteria. The quantitative criteria are based on gross inflows, net inflows, turnover, the profitability of assets under management and their ability to change. The qualitative criteria include the diversification and development of the business (new clients, new affiliates, new expertise, etc.) and the joint consideration of the interests of NIMI and those of clients.

NATIXIS AM Funds


Page 198


For all categories of staff, the performance assessment incorporates qualitative criteria. These qualitative criteria always include compliance with regulations and internal procedures in terms of NIMI risk management and compliance. They may also include the quality of the relationship with clients, including the level of expertise and advice provided, improving the reliability of a process, participating in a cross-disciplinary project, participating in the development of new expertise, contributing to the development of operational efficiencies or any other aspects defined by the strategic objectives set out by NIMI. For every category of staff, all quantitative and qualitative objectives are defined and communicated individually at the start of the year, in line with NIMI's strategic objectives. I-2. Remuneration components I-2.1. Fixed remuneration NIMI strives to maintain a level of fixed remuneration that sufficiently remunerates employees for their professional activity. Fixed remuneration rewards the skills, professional experience and level of responsibility expected of an employee when performing their duties. The positioning of fixed remuneration is reviewed periodically to ensure its consistency with regard to geographical and professional market practices. Fixed salaries are reviewed once a year as part of the annual remuneration review. Outside that period, only promotions, internal job moves or exceptional changes to individual circumstances may lead to a review. I-2.2. Variable remuneration The variable remuneration packages are defined based on the annual results of NIMI, the international distribution platform and Dynamic Solutions, and also by reference to qualitative elements, such as the practices of competitor companies, the general conditions of the market applicable at the time the results were obtained and any factors that may have temporarily influenced the business line's performance. Variable remuneration, where awarded, is paid to reward an individual annual performance achieved as part of a collective performance. NIMI's collective variable remuneration consists of mandatory and optional profit-sharing and incentive schemes, together with a company savings plan (plan d'épargne d'entreprise, PEE) and a company collective retirement savings plan (plan d'épargne pour la retraite collectif, PERCO). Employees can benefit from a matching scheme under these plans. This collective variable remuneration has no incentive impact on the risk management of NIMI and/or the managed products and does not fall within the scope of the AIFM or UCITS V directives. In compliance with the overall variable remuneration packages, individual variable remuneration is allocated as part of the annual remuneration review in a discretionary manner objectified with regard to the assessment of individual performance and the way in which performance is achieved. Variable remuneration awarded to employees is affected by inappropriate risk and compliance management or non-compliance with regulations and internal procedures over the year considered (see I-1. above). The identified employees are subject to specific obligations in terms of adherence to the rules on risks and compliance. A breach of these obligations may result in the partial reduction or removal of the individual variable remuneration awarded. In the event of a loss or a significant fall in its profits, NIMI may also decide to reduce or entirely cancel the amount allocated to individual variable remuneration, together with any deferred instalments of variable remuneration previously awarded and in the process of vesting.

NATIXIS AM Funds


Page 199


Similarly, in the event that a major sustainability-related risk materialises, i.e. an ESG event or situation occurs that would have a material and lasting adverse impact on the value of the funds/products under management, the package allocated to individual variable remuneration may be reduced or even cancelled, as may the maturities in the process of vesting and related to the variable remuneration already awarded and deferred, if applicable. There are no contractual guarantees for variable remuneration, with the occasional exception of variable remuneration awarded for the first year of work within the framework of external recruitment. "Golden parachute" agreements are forbidden. Payments related to the early termination of an employment contract are defined in accordance with legal provisions (legal and contractual indemnities) and the performance of the beneficiary, the area of the business to which they belong and the performance of the entire Management Company over the period. They are designed to avoid rewarding failure. Variable remuneration is not paid through instruments or methods that facilitate circumvention of the requirements established in the regulations. I-2.3. Key employee retention scheme NIMI wants to ensure that its investors have confidence in the stability of its teams. In order to achieve this, a deferred remuneration system has been incorporated into its remuneration policies. Beyond a certain variable threshold, this scheme leads to the allocation of a proportion of the variable remuneration in the form of a cash payment indexed to changes in the consolidated financial performance of NATIXIS IM measured by its earnings before tax (EBT), recorded each year over a minimum period of three years. The deferred variable remuneration component vests in equal tranches over a minimum period of three years and aligns employees' remuneration with NATIXIS IM's performance. The deferred variable remuneration rate is calculated by applying a deferred remuneration table. This scheme is subject to the employee meeting conditions relating to attendance and the absence of conduct inconsistent with the company's standards that may have an impact on NIMI's level of risk. Vesting of these tranches may be subject to a repayment commitment, either in full or in part, in order to ensure ex-post risk adjustment. I-2.4. Balance between fixed and variable remuneration NIMI ensures that there is an appropriate balance between the fixed and variable components of overall remuneration and that the fixed component represents a sufficiently high proportion of overall remuneration so that a fully flexible policy can be exercised with regard to variable components of remuneration, including the option of paying no variable component. All individual situations for which variable remuneration represents more than 100% of fixed remuneration and which can be explained by market practice and/or an exceptional level of responsibility, performance and behaviour, are documented by the Human Resources Department as part of the annual remuneration review. II- IMPLEMENTATION OF THE SCHEME APPLICABLE TO EMPLOYEES IDENTIFIED UNDER AIFM AND/OR UCITS V II-1. Identified employees In accordance with regulatory provisions, identified employees of NIMI consist of the categories of staff that include general management, risk-takers and individuals exercising a control function, as well as any employee who, in view of their total remuneration, is placed in the same remuneration bracket as general management and risk-takers, whose professional activities have a significant impact on the risk profile of the Management Company and/or the products managed by it. These individuals are identified according to their professional activity, their level of responsibility or their level of total remuneration. To maintain consistency and alignment, NIMI has decided to implement the system applicable to identified employees across the full scope of products managed (mandates, UCITS and AIFs).

NATIXIS AM Funds


Page 200


The following employee categories are identified: - Members of the management body - Members of staff responsible for portfolio management - Managers of control functions (risk, compliance and internal control) - Managers of support or administrative activities - Other risk-takers - Employees who, given their overall remuneration, are in the same remuneration bracket as general management and risk-takers Each year, prior to the annual remuneration review, the Human Resources Department draws up and formally records the identification methodology and scope of NIMI's identified employees, in conjunction with the Director of Permanent Controls. The names of all identified employees are then validated by NIMI's General Management and sent for approval to the Board of Directors in its supervisory function, before being provided to the NATIXIS Remuneration Committee. The entire identification process is documented and archived by the Human Resources Department. The employees concerned are also notified of their status. II-2. Scheme applicable to variable remuneration allocated to identified employees In accordance with regulations and in order to ensure alignment between employees and investors and the Management Company, where the variable remuneration of identified employees exceeds a certain threshold, it is partly deferred and partly awarded in the form of a financial instrument vesting over a period of at least three years, acquired pro rata temporis. The proportion of variable remuneration, which is deferred over three years, increases with the amount of variable remuneration awarded and may reach 60% for those with the highest remuneration at NIMI. Currently, the application methods for the deferred payment are as follows: - Up to €199,000 in variable remuneration: no deferral - Between €200,000 and €499,000: 50% of the amount deferred from the first euro - From €500,000: 60% of the amount deferred from the first euro The thresholds for triggering deferred variable remuneration are subject to change depending on regulations or changes to internal policies. In this case, the new thresholds defined are subject to approval by NIMI's Management Committee and the NATIXIS Remuneration Committee. A minimum of 50% of variable remuneration is also awarded in financial instruments in the form of indexed cash payments: • For teams directly involved in portfolio management, with the exception of those managing real asset private debt, on the basis of the performance of a selection of products managed by NIMI • For teams that are not directly involved in portfolio management and teams managing real asset private debt, on the basis of changes in NATIXIS IM's consolidated financial performance measured by its earnings before tax (EBT), recorded each year over a minimum period of three years The vesting of the deferred component of variable remuneration is subject to the employee meeting certain conditions relating to attendance and to NATIXIS IM's consolidated financial performance as well as the absence of conduct inconsistent with the company's standards that may have an impact on the level of risk for NIMI and/or the products managed. This vesting is also subject to obligations in terms of adherence to the rules on risks and compliance. Failure to comply with these obligations may result in a partial or total decrease in the vesting. It may also be subject to a full or partial repayment commitment in order to ensure ex-post risk adjustment.

NATIXIS AM Funds


Page 201


Employees benefiting from deferred variable remuneration are prohibited from using individual hedging or insurance strategies over the entire vesting period. The terms and conditions for determining, valuing, awarding, vesting and paying deferred variable remuneration as an equivalent financial instrument are detailed in NIMI and NATIXIS IM's Long Term Incentive Plans (LTIPs). III- GOVERNANCE The general and specific principles of the remuneration policy are drawn up and formally recorded by NIMI's Human Resources Department in line with the policy applicable to the global distribution platform. NIMI's Permanent Controls Department and Risk Department have an active role in the development, ongoing monitoring and evaluation of the remuneration policy. They are thus involved in determining the overall strategy applicable to the Management Company to promote the development of effective risk management. As such, they are involved in determining the scope of identified employees. They are also responsible for assessing the impact of the variable remuneration structure on the risk profile of managers. NIMI's remuneration policy is approved by the NIMI Board of Directors in its supervisory function. The general and specific principles, the application methods and quantified summary data of the remuneration policy, including details of identified employees and the highest levels of remuneration, are approved in turn and in detail by the members of NIMI's Management Committee, then by an Intermediary Committee established at Federation level that encompasses all the distribution, support and control functions of the NATIXIS IM Group and incorporates NIMI in particular. This Intermediary Committee brings together the General Management teams of NIMI and NATIXIS IM. It then submits the above information in summary form for the approval of NATIXIS' General Management and then finally the NATIXIS Remuneration Committee. NIMI does not have its own remuneration committee but, as a member of the NATIXIS Group, reports to the NATIXIS Remuneration Committee. The NATIXIS Remuneration Committee was established and acts in accordance with regulations(1): 1: For more details on the composition and role of the NATIXIS Remuneration Committee, see the company's Reference Document. - Both in its composition: the independence and expertise of its members, the majority of whom, like its Chairman, do not perform executive functions within NIMI, are external to the NATIXIS Group and are therefore completely independent - And in the exercise of its duties, which in management companies more specifically includes the following roles: o Advice and assistance to the Board of Directors for the development and implementation of the Management Company's remuneration policy o Assistance to the Board of Directors in overseeing the development and operation of the Management Company's remuneration system o Particular attention is paid to the assessment of the mechanisms adopted to ensure that the remuneration system considers all the categories of risks, liquidity and levels of assets under management in an appropriate manner and to ensure compatibility of the remuneration policy with the economic strategy, objectives, values and interests of the Management Company and the products managed, as well as with those of investors In this context, the general and specific principles, the compliance of NIMI's remuneration policy with the applicable regulations and application methods, and summary figures of the remuneration policy, including details of identified employees and the highest levels of remuneration, are submitted to the NATIXIS Remuneration Committee for a final review, before being approved by its Board of Directors in its supervisory function. The remuneration of NIMI's Chief Executive Officer is set by the General Management teams of NATIXIS IM and NATIXIS, then presented to the NATIXIS Remuneration Committee.

NATIXIS AM Funds


Page 202


The remuneration of NIMI's Risk and Compliance Directors is reviewed, as part of the independent reviews carried out by the risk and compliance functions, by NATIXIS IM's Risk and Compliance Directors. They are then submitted to the NATIXIS Remuneration Committee. In short, all roles assigned to remuneration committees and set out in the regulatory texts are in practice performed by the Intermediary Committee established at Federation level, which incorporates NIMI, and/or by the NATIXIS Remuneration Committee. The general and specific principles of the remuneration policy are communicated internally to all employees and members of the Works Council. NIMI also complies with all its obligations in terms of external advertising. This entire review, validation and communication process takes place every year. It includes any regulatory and contextual changes and is consistent with the NATIXIS remuneration policy. Finally, the entire NIMI remuneration policy is subject to a centralised and independent annual review by NATIXIS IM's Internal Audit Department. When NIMI delegates the financial management of one of the portfolios that it manages to another management company, it ensures that this delegated company complies with the regulations in force. Remuneration paid during the last financial year The total amount of remuneration for the financial year, broken down into fixed and variable remuneration, paid by the Management Company to its staff, and the number of beneficiaries, is as follows: Fixed remuneration in 2020*: €26,721,199 Variable remuneration awarded for 2020: €9,920,866 Employees concerned: 359 employees *Theoretical fixed remuneration for full-time equivalent (FTE) as at 31 December 2020 The aggregate amount of remuneration, broken down between the senior executives and members of staff of the Management Company whose activities have a significant impact on the risk profile of the Management Company and/or portfolios is as follows: Total remuneration awarded for 2020: €9,858,757 including, - Senior executives: €4,669,512 - Members of staff: €5,189,245 - Employees concerned: 53 SEEYOND REMUNERATION POLICY This SEEYOND remuneration policy consists of general principles applicable to all employees (see point I), specific principles applicable to employees identified by AIFM and UCITS V (see point II) and a governance mechanism applicable to all employees (see point III). It falls within the framework of the remuneration policy defined by NATIXIS and is established in compliance with the provisions relating to remuneration stipulated in the following regulatory texts, as well as the guidelines of the European Securities and Markets Authority (ESMA) and the positions of the French Financial Markets Authority (AMF - Autorité des Marchés Financiers) resulting therefrom: - Directive 2011/61/EU of the European Parliament and of the Council of 8 June 2011 on Alternative Investment Fund Managers, transposed into the French Monetary and Financial Code by Order No. 2013-676 of 27 July 2013 ("AIFM Directive").

NATIXIS AM Funds


Page 203


- Directive 2014/91/EU of the European Parliament and of the Council of 23 July 2014 on Undertakings for Collective Investment in Transferable Securities, transposed into the French Monetary and Financial Code by Order No. 2016-312 of 17 March 2016 ("UCITS V Directive"). - Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on Markets In Financial Instruments, transposed into the French Monetary and Financial Code by Order No. 2016-827 of 23 June 2016, supplemented by the Delegated Regulation 2017/565/EU of 25 April 2016 ("MIFII Directive"). 1 GENERAL PRINCIPLES OF REMUNERATION POLICY The remuneration policy is a strategic aspect of the SEEYOND policy. As a tool to enhance employee motivation and commitment, it aims to be competitive and attractive in relation to market practices while fully complying with key financial indicators and regulations. The SEEYOND remuneration policy, which applies to all employees, incorporates the alignment of the interests of its employees with those of investors into its fundamental principles: - It is consistent and promotes sound and efficient risk management and does not encourage risk-taking, which would be incompatible with the risk profiles, regulations or documents constituting the products managed. - It is in line with the economic strategy, objectives, values and interests of the Management Company and the products it manages, as well as those of investors, and includes measures aimed at preventing conflicts of interest. The remuneration policy covers all components of remuneration, which include fixed remuneration and, where applicable, variable remuneration. Fixed remuneration rewards skills, professional experience and level of responsibility. It takes into account market conditions. Variable remuneration depends on the assessment of collective performance — measured for the Management Company and the products managed — and individual performance. It considers quantitative and qualitative elements, which may be established on an annual or multi-year basis. � Definition of performance The objective and transparent assessment of annual and multi-year performance based on predefined objectives is a prerequisite for applying the SEEYOND remuneration policy. It ensures the fair and selective treatment of employees. This evaluation is shared between the employee and their manager during an individual appraisal interview. The contribution and performance level of each employee are evaluated with regard to their duties, assignments and level of responsibility in the Management Company. In this context, the remuneration policy distinguishes several categories of staff: - The Executive Committee is evaluated on its contribution to the definition and implementation of the Management Company' strategy and on its ability to increase performance in terms of product and service offerings and the risk-adjusted financial performance for its scope of supervision. For this category of staff, performance is assessed annually through quantitative indicators, such as changes in SEEYOND's financial results and supervised activities, as well as qualitative elements, such as the quality of management and/or responsibility/contribution to cross-functional projects. - Support functions are assessed on their ability to assist with the strategic challenges of the Management Company. Individual performance is assessed annually depending on the quality of recurring business activity and/or the degree of participation in cross-functional projects or strategic/regulatory plans. - Assessment of the performance of control functions is based on the evaluation of qualitative criteria only, such as participation in cross-functional projects or in strategic/regulatory plans, defined annually, so as to avoid compromising their independence or creating conflicts of interest with the activities they control.

NATIXIS AM Funds


Page 204


- The performance of management functions is assessed according to quantitative criteria, supplemented by one or several qualitative criteria. Quantitative criteria reflect the development issues of the management performance sought by investors without causing excessive risk-taking, which may have an impact on the risk profile of SEEYOND and/or the products managed. These quantitative criteria are calculated over a predefined period in line with the risk-adjusted performance horizon of the funds managed and the Management Company. For all categories of staff, the performance assessment incorporates qualitative criteria. These qualitative criteria always include compliance with regulations and internal procedures in terms of risk management and SEEYOND compliance. They may also relate to the quality of the relationship with clients, including the level of expertise and advice provided, the contribution to the reliability of a process, the participation in a cross-functional project, the contribution to the development of new expertise, the participation in the development of operational efficiency or any other subjects defined as a variation of SEEYOND's strategic objectives. For every category of staff, all quantitative and qualitative objectives are defined and communicated individually at the start of the year, in line with SEEYOND's strategic objectives. 2. REMUNERATION COMPONENTS � Fixed remuneration SEEYOND strives to maintain a level of fixed remuneration that is sufficient to compensate the professional activity of employees. Fixed remuneration rewards the skills, professional experience and level of responsibility expected of an employee when performing their duties. The positioning of fixed remuneration is reviewed periodically to ensure its consistency with regard to geographical and professional market practices. The revaluation of fixed salaries is analysed once a year as part of the annual remuneration review. Outside these periods, only cases of promotion, professional mobility or exceptional individual situations can give rise to a revaluation. � Variable remuneration Variable remuneration packages are defined based on SEEYOND's annual results, as well as on qualitative information, such as the practices of competitors, the general market conditions in which the results were obtained and factors that may have temporarily influenced the performance of the business. Variable remuneration, which can be allocated if applicable, compensates an annual performance, both collective and/or individual. SEEYOND's collective variable remuneration consists of a profit-sharing and incentive scheme, associated with a company savings plan (PEE - Plan d’Epargne d’Entreprise) and a company collective retirement savings plan (PERCO - Plan d’Epargne Retraite Collectif). Employees can benefit from a matching scheme under these plans. This collective variable remuneration has no incentive effect on the management of SEEYOND's risks and/or the products managed and is beyond the scope of application of the AIFM or UCITS V Directives. In compliance with the overall variable remuneration packages, individual variable remuneration is allocated as part of the annual remuneration review in a discretionary manner, objectified with regard to the assessment of individual performance and the way in which performance is achieved. Variable remuneration awarded to employees is affected

NATIXIS AM Funds


Page 205


by inappropriate risk and compliance management or non-compliance with regulations and internal procedures over the year considered (see I-1. above). The identified employees are subject to specific obligations in terms of adherence to the rules on risks and compliance. A breach of these obligations may result in the partial reduction or removal of the individual variable remuneration awarded. In the event of a significant loss or decline in its results, SEEYOND can also decide to reduce or entirely cancel the amounts allocated to individual variable remuneration, as well as if applicable, any maturities in the process of being acquired by way of variable remuneration that have already been awarded and deferred. There are no contractual guarantees for variable remuneration, with the occasional exception of variable remuneration awarded for the first year of work within the framework of external recruitment. "Golden parachute" agreements are forbidden. Payments related to the early termination of an employment contract are defined in accordance with legal provisions (legal and contractual indemnities) and the performance of the beneficiary, their membership activity and the performance of the entire Management Company over the period. They are designed to avoid rewarding failure. Variable remuneration is not paid through instruments or methods that facilitate circumvention of the requirements established in the regulations. � Balance between fixed and variable remuneration SEEYOND ensures that there is an appropriate balance between the fixed and variable components of the total remuneration received and that the fixed component represents a sufficiently high proportion of the total remuneration so that a fully flexible policy can be exercised with regard to variable components of remuneration, including the possibility of paying no variable component. All individual situations for which variable remuneration represents fixed remuneration more than once and which can be explained by market practice and/or an exceptional level of responsibility, performance and behaviour, are documented by the Human Resources Department as part of the annual remuneration review. I-3. Breakdown of the scheme applicable to the employees identified by AIFM and/or UCITS V II-1. Identified employees In accordance with regulatory provisions, identified employees of SEEYOND consist of the categories of staff that include general management, risk-takers and individuals exercising a control function, as well as any employee who, in view of their total remuneration, is placed in the same remuneration bracket as general management and risk-takers, whose professional activities have a significant impact on the risk profile of the Management Company and/or the products managed by it. These individuals are identified according to their professional activity, their level of responsibility or their level of total remuneration. To maintain consistency and alignment, SEEYOND has decided to implement the system applicable to identified employees across the full scope of products managed (mandates, UCITSs and AIFMs). The following employee categories are identified: - Members of the management body. - Staff members responsible for portfolio management. - Managers of control functions (risks, compliance and internal control). - Those responsible for support or administrative activities. - Other risk-takers. - Employees who, in view of their total remuneration, are in the same remuneration bracket as general management and risk-takers.

NATIXIS AM Funds


Page 206


Each year, before the annual remuneration review, the Human Resources Department determines and formalises the identification methodology and scope of SEEYOND's identified employees, in collaboration with the Internal Control and Risk Department. The scope of all the identified employees is then validated by SEEYOND's General Management team, then presented to the NATIXIS Remuneration Committee. The entire identification process is documented and archived by the Human Resources Department. The employees concerned are also informed of their status. � Scheme applicable to variable remuneration allocated to identified employees In accordance with regulations and in order to ensure alignment between employees and investors and the Management Company, as soon as it exceeds a certain threshold, the variable remuneration of identified employees is partly deferred and partly awarded in the form of a financial instrument over a period of at least three years, acquired pro rata temporis. The proportion of variable remuneration, which is deferred over three years, increases with the amount of variable remuneration awarded and can reach 60% for the highest SEEYOND remunerations. Currently, application methods for the deferred payment are as follows: - Between €200,000 and €499,000: 50% deferred - From €500,000: 60% deferred The thresholds for triggering deferred variable remuneration are subject to change depending on regulations or changes to internal policies. In this case, the new thresholds defined are subject to approval by the SEEYOND Executive Committee and the NATIXIS Remuneration Committee. In addition, at least 50% of the variable remuneration is paid by a financial instrument in the form of cash indexed on changes in SEEYOND's consolidated financial performance as measured by its Pre-Tax Income (RCAI - Résultat Courant Avant Impôt), recorded each year over a period of at least three years. Vesting of the proportion of the variable remuneration, which is deferred, is subject to conditions of continued employment, to the Management Company's financial performance and to the absence of conduct inconsistent with the Management Company's standards that could have an impact on the SEEYOND risk level and/or the products managed. This vesting is also subject to obligations in terms of adherence to the rules on risks and compliance. Failure to comply with these obligations may result in a partial or total decrease in the vesting. It may also be subject to a full or partial repayment commitment in order to ensure ex-post risk adjustment. Employees benefiting from deferred variable remuneration are prohibited from using individual hedging or insurance strategies over the entire vesting period. The terms and conditions for determining, valuing, awarding, vesting and paying deferred variable remuneration as an equivalent financial instrument are detailed in the SEEYOND Long-Term Incentive Plan (LTIP). II- Governance The general and specific principles of the remuneration policy are defined and documented by the SEEYOND Human Resources Department. The Compliance Department, the Internal Control Department and the Risk Department of SEEYOND have an active role in the development, continuous monitoring and evaluation of the remuneration policy. They are, therefore, involved in determining the overall strategy applicable to the Management Company to promote the development of effective risk management. As such, they are involved in determining the scope of identified employees. They are also responsible for assessing the impact of the variable remuneration structure on the risk profile of managers.

NATIXIS AM Funds


Page 207


The SEEYOND remuneration policy is approved by the SEEYOND Board of Directors. The general and specific principles, methods of application and figures summarising the remuneration policy, including identified employees, are then approved by the members of the SEEYOND Executive Committee, NATIXIS IM General Management and NATIXIS General Management. SEEYOND, which does not have a Remuneration Committee but belongs to the NATIXIS Group, reports to the NATIXIS Remuneration Committee. The NATIXIS Remuneration Committee was established and acts in accordance with regulations : - Both in its composition: independence and expertise of its members; - And in the exercise of its duties which, in management companies, more specifically includes the following roles: o Recommendation and assistance to the Board of Directors in the development and implementation of the Management Company's remuneration policy; o Assistance to the Board of Directors in overseeing the development and operation of the Management Company's remuneration system; o Particular attention is paid to the assessment of the mechanisms adopted to ensure that the remuneration system considers all the categories of risks, liquidity and levels of assets under management in an appropriate manner and to ensure compatibility of the remuneration policy with the economic strategy, objectives, values and interests of the Management Company and the products managed, as well as with those of investors. In this context, the general and specific principles, compliance of SEEYOND's remuneration policy with applicable regulations, application methods and summary figures of its remuneration policy, including the identified employees and the highest remunerations, are submitted to the NATIXIS Remuneration Committee for review, then approved by its Board of Directors. The remuneration of the Chief Executive Officer of SEEYOND is determined by the General Management of NATIXIS IM and NATIXIS, then presented to the NATIXIS Remuneration Committee before being approved by its Board of Directors. The remuneration of SEEYOND's Risk and Compliance Directors is reviewed, within the framework of independent reviews performed by the risk and compliance departments, by the Risk and Compliance Directors of NATIXIS IM. They are then submitted to the NATIXIS Remuneration Committee. The general and specific principles of the remuneration policy are communicated internally to all employees and members of the Works Council. This entire review, validation and communication process takes place every year. It includes any regulatory and contextual changes and is consistent with the NATIXIS remuneration policy. Finally, the entire SEEYOND remuneration policy is subject to an annual centralised and independent review by the Internal Audit Department of NATIXIS IM. When SEEYOND delegates the financial management of one of the portfolios for which it is the Management Company to another management company, it ensures that the delegated company complies with the regulations in force. The total amount of remuneration for the financial year, broken down into fixed and variable remuneration, paid by the Management Company to its staff, and the number of beneficiaries, is as follows: Fixed remuneration in 2020: €2,355,692 Variable remuneration awarded for 2020 : €2,026,250 Employees concerned: 26 The aggregate amount of remuneration, broken down between the senior executives and members of staff of the Management Company whose activities have a significant impact on the risk profile of the Management Company and/or its portfolios:

NATIXIS AM Funds


Page 208


Total remuneration awarded for 2020: €2,807,250 of which, - Senior executives: €1,862,250 - Members of staff: €945,000 NATIXIS INVESTMENT MANAGERS SINGAPORE LIMITED - REMUNERATION POLICY

1.1 Introduction Natixis Investment Managers Singapore Limited (NIM Singapore) remuneration policy is comprised of (i) general principles applicable to all employees defined in point 1.2, (ii) specific principles applicable to the population regulated by AIFM and UCITS V defined in point 1.3; and (iii) governance arrangements applicable to all employees defined in point 1.4. It falls within the principles defined by Natixis. 1.2 General principles of the remuneration policy The remuneration policy is a strategic component of NIM Singapore's policy. It is designed as an incentive and commitment tool for employees. It aims to be competitive and attractive in terms of market practices whilst in strict compliance with major financial balances and regulations. It is defined in a manner as to avoid implementing incentives, which may create conflicts of interest between employees and NIM Singapore's customers. The remuneration policy encompasses all remuneration components. It differentiates between the fixed remuneration based on the assessment of skills required for the position and set based on market standards, and variable remuneration linked to the assessment of defined individual or collective performance criteria. This performance assessment is based on annual and long-term, quantitative and qualitative performance criteria. Its main principles ensure that the interests of investors, employees and NIM Singapore are aligned. It applies to all NIM Singapore employees. The remuneration policy of NIM Singapore is reviewed and approved by HR of Natixis Investment Managers, Paris (Natixis Investment Managers) annually to incorporate any changes made by Natixis Investment Managers in their remuneration policy. Information on the main principles of the remuneration policy is provided to the Board of Directors and all employees on an annual basis.

a. Definition of performance The objective and transparent assessment of annual and long-term performance is the prerequisite for applying NIM Singapore's remuneration policy. It ensures that the company treats employees fairly and selectively. This assessment is shared by the employee and his manager during an individual assessment meeting. Each employee's contribution and performance level is assessed based on his position, duties and level of responsibility. In this scope, the remuneration policy distinguishes between several categories of employees:

The Senior Management is assessed based on its contribution to defining and implementing the company's strategy and its capacity to develop performance of the product and service offering and financial results. For this category, performance is assessed annually based on the performance of supervised activities via quantitative indicators, changes to the economic results of NIM Singapore and the supervised activities in addition to the contribution to global performance translated by achieving qualitative objectives relating for instance to management or responsibility/contribution to transversal projects. Support functions are assessed based on their capacity to assist the company's strategic challenges. Individual performance is translated annually by the achievement of qualitative objectives such as the quality of ongoing activities or participation in transversal projects or strategic/regulatory projects. These objectives are defined and communicated at the beginning of each year in line with NIM Singapore's strategic objectives.

NATIXIS AM Funds


Page 209


Performance assessment of support functions is solely based on the assessment of qualitative criteria such as participation in transversal projects or strategic/regulatory projects, defined annually, in order to avoid compromising their independence or creating a conflict of interest.

Performance of management functions is assessed based on two quantitative criteria: the information ratio or Sharpe ratio (for risk-free portfolios) and competition rankings, supplemented by one or more qualitative criteria. Quantitative criteria reflect the development challenges of management performance sought by investors without nevertheless authorising excessive risk-taking which may have an impact on the risk profile of NIM Singapore and/or products under management. Such quantitative criteria are calculated over a one and three-year period to achieve the company's long-term performance goal and to limit the weight of sporadic performance. Performance assessment systematically includes qualitative criteria. They relate to the contribution to making a process reliable, participation in a transversal project, contribution to the development of new skills, contribution to the development of operational efficiency or other subjects defined in line with Natixis Investment Managers's strategic objectives. Such qualitative objectives are defined and communicated at the beginning of each year. In addition, such qualitative criteria include compliance with NIM Singapore's risk and compliance rules. b. Remuneration components

i. Fixed remuneration NIM Singapore seeks to maintain a satisfactory level of fixed remuneration to compensate employees' work in order to guarantee a balanced proportion between fixed remuneration and variable remuneration. Fixed remuneration compensates the expected skills and expertise in a position. The positioning of fixed remuneration is studied periodically in order to ensure that it is in line with geographical and professional market practices. Increases in fixed remuneration and awarding of variable remuneration are reviewed once a year in the scope of the annual pay review. Outside of these periods, increases are only awarded in the event of promotion, professional mobility or an exceptional individual situation. ii. Variable remuneration

Variable remuneration budgets are defined based on NIM Singapore's annual results as well as based on qualitative analysis, including competing companies' practices, general conditions of the market in which the results were obtained, factors which may have a temporary impact on the business line's performance. Variable remuneration compensates annual, collective or individual performance. Individual variable remuneration is awarded on a discretionary basis in view of the assessment of individual performance and the fulfilment of objectives. Variable remuneration awarded to employees is affected by non-compliant risk-taking levels or non-compliance with internal procedures in the given year. The regulated population and front office employees are subject to specific obligations on respecting risk and compliance rules. Non-compliance with these obligations may result in a partial or total reduction in the amount of the individual variable remuneration awarded. In the event of a loss or a considerable drop in results, NIM Singapore may also consider that the budget awarded for individual remuneration and, where applicable, vesting payments may not be distributed or may be reduced for one or more years.

NATIXIS AM Funds


Page 210


No contractual guarantee applies to variable remuneration, except for variable remuneration occasionally awarded during the first year of employment in the scope of an external recruitment. Golden parachutes are not allowed. Payments linked to early termination of an employment contract are defined based on legal provisions (legal and contractual indemnities) and the beneficiary's performance, his business line's performance and the whole company's performance. iii. Key employee retention measures

NIM Singapore wishes to guarantee investors with regard to the stability of its most talented employees or identified key employees in view of their commitment or contribution to the results. To this end, deferred remuneration was added to the remuneration policies. This measure enables additional variable remuneration to be awarded in cash indexed based on the performance of an equally weighted basket of products under management by Natixis Investment Managers. It is vested by equal tranches over a minimum period of three years and accordingly enables employees to have an interest in Natixis Investment Managers's performance. It is subject to conditions relating to presence, absence and exceptional conduct which may have an impact on risk levels of Natixis Investment Managers and/or the products under management. The vesting of these tranches may be refunded in order to guarantee future risk adjustments. The amounts are awarded based on the performance assessment and an individual professional commitment in a given year. 1.3 Adaptation of the applicable measures to the regulated population a. Identification of the regulated population In accordance with regulatory provisions, the HR Director of Natixis Investment Managers, Paris and the Chief Executive Officer determine and formalise the scope of the regulated population at NIM Singapore at the beginning of the year. Employees are identified based on their professional activities when they are involved in the investment process and/or employees who may in an individual capacity have a considerable impact as a result of their decisions on the risk profile of NIM Singapore and/or products under management, or as a result of the level of their total remuneration. With a view to promoting coherence and harmonisation, NIM Singapore has decided to implement the applicable arrangements to the regulated population over the entire scope of the products under management (mandates, UCITS and AIF). Members of the Executive Committee are systematically included in the scope of the regulated population, as well as management functions of support or administrative activities (financial and operations directors) and management functions of control activities (risk, compliance and control directors). The scope of the entire regulated populated is approved by the senior management and kept on file by the HR Department. The relevant employees are informed regarding their status. The scope of the regulated population at NIM Singapore is presented to Natixis' Remuneration Committee. The scope of the regulated population may be reviewed during the course of a year in the event of recruitment or mobility of an employee, or the launch of new activities or new management processes. b. Arrangements applicable to variable remuneration awarded to the regulated population

The variable remuneration of the regulated population is subject to deferred conditions and is awarded 50% in cash and 50% in the equivalent form to a financial instrument. The threshold for triggering deferred remuneration is fixed at €200k or equivalent currency with effect from 2018. It will be subject to change based on regulatory directives or amendments to HR policies. In this case, the new threshold is defined and approved by the Natixis Investment Managers's Executive Committee and Natixis' Remuneration

NATIXIS AM Funds


Page 211


Committee. For the top remunerations at NIM Singapore, the deferred proportion in an equivalent form to a financial instrument may reach 60%. In order to ensure that the interests of employees and investors are aligned, the share of the deferred variable remuneration is awarded in cash indexed based on the performance of a basket of products managed by Natixis Investment Managers. It is vested on expiry of at least three annual periods of deferral subject to conditions relating to presence and exceptional conduct which may have an impact on risk levels of Natixis Investment Managers and/or the products under management. Such vesting is also subject to obligations relating to compliance with risk and compliance rules. Non-compliance with these obligations may result in a partial or total reduction in the amount of such vesting. Such vesting may also be refunded in order to guarantee future risk adjustments.

Employees benefiting from deferred variable remuneration are not allowed to use individual hedging or insurance strategies over the entire vesting period.

1.4 Governance The general and specific principles of the remuneration policy are defined and formalised by the HR Department and then submitted for approval to Chief Executive Officer of NIM Singapore. They are successively confirmed and approved by the members of Natixis IM’s Executive Committee, the senior management at Natixis IM and Natixis. The general and specific principles of the remuneration policy are communicated internally to all employees by the HR Department's publications such as the internet. The general and specific principles, implementation arrangements and summarised figures of the remuneration policy including the regulated population and the annual remuneration budget for the directors are provided annually to NIM Singapore's Board of Directors. The Chief Executive Officer's remuneration is set by the senior management at Natixis Investment Managers, and Natixis and is presented to Natixis' Remuneration Committee for approval by Natixis' Board of Directors. When NIM Singapore delegates the financial management of one of its portfolios for which it acts as management company to another management company, it ensures that the delegated company complies with applicable regulations. OSTRUM AM REMUNERATION POLICY This OSTRUM AM remuneration policy consists of general principles applicable to all employees (see point I), specific principles applicable to employees identified by AIFM and UCITS V (see point II) and a governance mechanism applicable to all employees (see point III). It falls within the framework of the remuneration policy defined by Natixis and is established in compliance with the provisions relating to remuneration stipulated in the following regulatory texts, as well as the guidelines of the European Securities and Markets Authority (ESMA) and the positions of the Autorité des Marchés Financiers (AMF, the French Financial Markets Authority) resulting therefrom: -Directive 2011/61/EU of the European Parliament and of the Council of 8 June 2011 on Alternative Investment Fund Managers, transposed into the French Monetary and Financial Code by Order No. 2013-676 of 27 July 2013 (AIFM Directive). -Directive 2014/91/EU of the European Parliament and of the Council of 23 July 2014 on undertakings for collective investment in transferable securities, transposed into the French Monetary and Financial Code by Order No. 2016-312 of 17 March 2016 (UCITS V Directive) -Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments, transposed into the French Monetary and Financial Code by Order No. 2016-827 of 23 June 2016, supplemented by the Delegated Regulation 2017/565/EU of 25 April 2016 (MIFII Directive) -Regulation (EU) 2019/2088 of the European Parliament and of the Council of 27 November 2019 on sustainability-related disclosures in the financial services sector

NATIXIS AM Funds


Page 212


I- GENERAL PRINCIPLES OF THE REMUNERATION POLICY The remuneration policy is a strategic aspect of OSTRUM AM's policy. As a tool to enhance employee motivation and commitment, it aims to be competitive and attractive in relation to the rest of the industry while fully complying with key financial indicators and regulations. OSTRUM AM's remuneration policy, which applies to all employees, counts the alignment of the interests of its employees with those of investors into its fundamental principles: It is consistent and promotes sound and efficient risk management and does not encourage risk-taking that would be incompatible with the risk profiles, regulations or documents constituting the products managed. - It is in line with the economic strategy, objectives, values and interests of the Management Company and the products it manages, as well as those of investors, and includes measures aimed at preventing conflicts of interest. The remuneration policy covers all components of remuneration, which include fixed remuneration and, where applicable, variable remuneration. Fixed remuneration rewards skills, professional experience and level of responsibility. It takes into account market conditions. Variable remuneration depends on the assessment of collective performance, measured at both the level of the Management Company and the products managed and of individual performance. It considers quantitative and qualitative elements, which may be established on an annual or multi-year basis. I-1. Definition of performance The objective and transparent assessment of annual and multi-year performance based on predefined objectives is a prerequisite for applying Ostrum AM's remuneration policy. It ensures the fair and selective treatment of employees. This evaluation is shared between the employee and their manager during an individual appraisal interview. The contribution and performance level of each employee are evaluated with regard to their duties, assignments and level of responsibility in the Management Company. In this context, the remuneration policy distinguishes several categories of staff: - The Executive Committee is evaluated on its contribution to the definition and implementation of the Management Company's strategy and on its ability to increase performance in terms of product and service offerings and the risk-adjusted financial performance for its scope of supervision. For this category of staff, performance is assessed annually through quantitative indicators, such as changes in OSTRUM AM's financial results and supervised activities, as well as qualitative elements, such as the quality of management and/or responsibility/contribution to cross-functional projects. - Support functions are assessed on their ability to support the strategic challenges of the Management Company. Individual performance is assessed annually depending on the quality of recurring business activity and/or the degree of participation in cross-functional projects or strategic/regulatory plans. - Assessment of the performance of control functions is based on the evaluation of qualitative criteria only, such as participation in cross-functional projects or in strategic/regulatory plans, defined annually, to avoid compromising their independence or creating conflicts of interest with the activities they control. - The performance of management functions is assessed according to quantitative criteria, supplemented by qualitative criteria. Quantitative criteria reflect the development issues of the management performance sought by investors without causing excessive risk-taking, which may have an impact on the risk profile of OSTRUM AM and/or the products managed.

NATIXIS AM Funds


Page 213


These quantitative criteria are calculated over a predefined period in line with the risk-adjusted performance horizon of the funds managed and the Management Company For all categories of staff, the performance assessment incorporates qualitative criteria. These qualitative criteria always include compliance with regulations and internal procedures in terms of OSTRUM AM risk management and compliance. They may also include the quality of the relationship with clients, including the level of expertise and advice provided, improving the reliability of a process, participating in a cross-disciplinary project, participating in the development of new expertise, contributing to the development of operational efficiencies or any other aspects defined by the strategic objectives set out by OSTRUM AM. Specific criteria incorporating risks related to sustainability, i.e. social, environmental and governance issues, must be defined for the members of the Executive Committee, as well as managers and analysts working within the management teams. For each category of staff, all quantitative and qualitative objectives are defined and communicated individually at the start of the year, defined by the strategic objectives set out by OSTRUM AM. I-2. Remuneration components I-2.1. Fixed remuneration OSTRUM AM strives to maintain a level of fixed remuneration that sufficiently remunerates employees for their professional activity. Fixed remuneration rewards the skills, professional experience and level of responsibility expected of an employee when performing their duties. The positioning of fixed remuneration is reviewed periodically to ensure its consistency with regard to geographical and professional market practices. Fixed salaries are reviewed once a year as part of the annual remuneration review. Outside that period, only promotions, internal job moves or exceptional changes to individual circumstances may lead to a review. I-2.2. Variable remuneration Variable remuneration packages are defined based on OSTRUM AM's annual results, as well as on qualitative information, such as the practices of competitors, the general market conditions in which the results were obtained and factors that may have temporarily influenced the performance of the business. Variable remuneration, which can be allocated if applicable, compensates an annual performance, both collective and/or individual. OSTRUM AM's collective variable remuneration consists of mandatory and optional profit-sharing and incentive schemes, together with a company savings plan (plan d'épargne d'entreprise, PEE) and a company collective retirement savings plan (plan d'épargne pour la retraite collectif, PERCO). Employees can benefit from a matching scheme under these plans. This collective variable remuneration has no incentive impact on the risk management of OSTRUM AM and/or the managed products and does not fall within the scope of the AIFM or UCITS V directives. In compliance with the overall variable remuneration packages, individual variable remuneration is allocated as part of the annual remuneration review in a discretionary manner objectified with regard to the assessment of individual performance and the way in which performance is achieved. Variable remuneration awarded to employees is affected by inappropriate risk and compliance management or non-compliance with regulations and internal procedures over the year considered (see I-1. above).

NATIXIS AM Funds


Page 214


The identified employees are subject to specific obligations in terms of adherence to the rules on risks and compliance. A breach of these obligations may result in the partial reduction or removal of the individual variable remuneration awarded. 1. In the event of a loss or a significant fall in its profits, OSTRUM AM may also decide to reduce or entirely cancel the amount allocated to individual variable remuneration, together with any deferred instalments of variable remuneration previously awarded and in the process of vesting. Similarly, in the event that a major sustainability-related risk materialises, i.e. an ESG event or situation occurs that would have a material and lasting adverse impact on the value of the funds/products under management, the package allocated to individual variable remuneration may be reduced or even cancelled, as may the maturities in the process of vesting and related to the variable remuneration already awarded and deferred, if applicable. There are no contractual guarantees for variable remuneration, with the occasional exception of variable remuneration awarded for the first year of work within the framework of external recruitment. "Golden parachute" agreements are forbidden. Payments related to the early termination of an employment contract are defined in accordance with legal provisions (legal and contractual indemnities) and the performance of the beneficiary, the area of the business to which they belong and the performance of the entire Management Company over the period. They are designed to avoid rewarding failure. Variable remuneration is not paid through instruments or methods that facilitate circumvention of the requirements established in the regulations. I-2.3. Key employee retention scheme OSTRUM AM wants to ensure that its investors benefit from the continuity of service of its most talented employees and those identified as key in terms of their commitment or contribution to results. In order to achieve this, a deferred remuneration system has been incorporated into its remuneration policies. Beyond a certain variable threshold, this system leads to a proportion of variable remuneration being awarded in the form of cash indexed to the performance of an equally weighted portfolio of products managed by OSTRUM AM. The proportion of variable remuneration thus deferred is vested in equal tranches over a period of at least three years and links employees to the performance of OSTRUM AM. This scheme is subject to conditions relating to attendance and the absence of conduct inconsistent with the company's standards, that may have an impact on the level of risk of OSTRUM AM and/or the products managed. Vesting of these tranches may be subject to a repayment commitment, either in full or in part, in order to ensure ex-post risk adjustment. I-2.4. Balance between fixed and variable remuneration OSTRUM AM ensures that there is an appropriate balance between the fixed and variable components of the total remuneration received and that the fixed component represents a sufficiently high proportion of the total remuneration so that a fully flexible policy can be exercised with regard to variable components of remuneration, including the option of paying no variable component. All individual situations for which variable remuneration represents more than 100% of fixed remuneration and which can be explained by market practice and/or an exceptional level of responsibility, performance and behaviour, are documented by the Human Resources Department as part of the annual remuneration review.

NATIXIS AM Funds


Page 215


II- IMPLEMENTATION OF THE SCHEME APPLICABLE TO EMPLOYEES IDENTIFIED UNDER AIFM AND/OR UCITS V II-1. Identified employees In accordance with regulatory provisions, identified employees of OSTRUM AM consist of the categories of staff that include general management, risk-takers and individuals exercising a control function, as well as any employee who, in view of their total remuneration, is placed in the same remuneration bracket as general management and risk-takers, whose professional activities have a significant impact on the risk profile of the Management Company and/or the products managed by it. These individuals are identified according to their professional activity, their level of responsibility or their level of total remuneration. To maintain consistency and alignment, Ostrum AM has decided to implement the system applicable to identified employees across the full scope of products managed (mandates, UCITSs and AIFMs). The following employee categories are identified: - Members of the management body - Members of staff responsible for portfolio management - Managers of control functions (risk, compliance and internal control) - Managers of support or administrative activities - Other risk-takers - Employees who, given their overall remuneration, are in the same remuneration bracket as general management and risk-takers Each year, prior to the annual remuneration review, the Human Resources Department draws up and formally records the identification methodology and scope of OSTRUM AM's identified employees, in conjunction with the Director of Permanent Controls. The names of all identified employees are then validated by OSTRUM AM's General Management and sent for approval to the Board of Directors in its supervisory function, before being provided to the NATIXIS Remuneration Committee. The entire identification process is documented and archived by the Human Resources Department. The employees concerned are also notified of their status. II-2. Scheme applicable to variable remuneration allocated to identified employees In accordance with regulations and in order to ensure alignment between employees and investors and the Management Company, where the variable remuneration of identified employees exceeds a certain threshold, it is partly deferred and partly awarded in the form of a financial instrument vesting over a period of at least three years, acquired pro rata temporis. The proportion of the variable remuneration, which is deferred over three years, increases with the amount of variable remuneration awarded and may reach 60% for those with the highest remunerations at OSTRUM AM. Currently, the application methods for the deferred payment are as follows: - Up to €199,000 in variable remuneration: no deferral - Between €200,000 and €499,000 in variable remuneration: 50% of the amount deferred from the first euro - From €500,000 in variable remuneration: 60% of the amount deferred from the first euro The thresholds for triggering deferred variable remuneration are subject to change depending on regulations or changes to internal policies. In this case, the new thresholds defined are subject to approval by the OSTRUM AM Executive Committee and the NATIXIS Remuneration Committee.

NATIXIS AM Funds


Page 216


A minimum of 50% of variable remuneration is also awarded in financial instruments in the form of indexed cash payments on the performance of a portfolio of products managed by OSTRUM AM. The vesting of the deferred portion of variable remuneration is subject to conditions of continued employment, to the Management Company's financial performance, and to the absence of conduct inconsistent with the company's standards that could have an impact on the OSTRUM AM risk level and/or the products managed. This vesting is also subject to obligations in terms of adherence to the rules on risks and compliance. Failure to comply with these obligations may result in a partial or total decrease in the vesting. It may also be subject to a full or partial repayment commitment in order to ensure ex-post risk adjustment. Employees benefiting from deferred variable remuneration are prohibited from using individual hedging or insurance strategies over the entire vesting period. The terms and conditions for determining, valuing, awarding, vesting and paying deferred variable remuneration as an equivalent financial instrument are detailed in OSTRUM AM's Long-Term Incentive Plan (LTIP). III- GOVERNANCE The general and specific principles of the remuneration policy are defined and documented by the OSTRUM AM Human Resources Department. OSTRUM AM's Internal Control and Risk Department has an active role in the development, continuous monitoring and evaluation of the remuneration policy. It is, therefore, involved in determining the overall strategy applicable to the Management Company in order to promote the development of effective risk management. As such, it plays a role in identifying the scope of identified employees. It is also responsible for assessing the impact of the variable remuneration structure on the risk profile of managers. OSTRUM AM's remuneration policy is approved by the OSTRUM AM Board of Directors in its supervisory function. The general and specific principles, application methods, and quantified summary data of the remuneration policy, including details of identified employees and the highest levels of remuneration, are approved in detail by the members of the OSTRUM AM Executive Committee. The OSTRUM AM Remuneration Committee was established and acts in accordance with regulations: - Both in its composition: the independence and expertise of its members, the majority of whom, like its Chairman, do not perform executive functions within OSTRUM AM, and are therefore independent - And in the exercise of its duties, which include the following roles: o Advice and assistance to the Board of Directors for the development and implementation of the Management Company's remuneration policy o Assistance to the Board of Directors in overseeing the development and operation of the Management Company's remuneration system o Particular attention is paid to the assessment of the mechanisms adopted to ensure that the remuneration system considers all the categories of risk, liquidity and levels of assets under management in an appropriate manner and to ensure that the remuneration policy is compatible with the economic strategy, objectives, values and interests of the management company and the products managed, as well as with those of investors In this context, the general and specific principles, the compliance of OSTRUM AM's remuneration policy with the applicable regulations and application methods, and summary figures of the remuneration policy, including details of identified employees and the highest levels of remuneration, are submitted to the OSTRUM AM Remuneration Committee for review, before being approved by its Board of Directors in its supervisory function. NATIXIS IM's General Management then submits the above information in summary form for the approval of NATIXIS' General Management, and then finally the NATIXIS Remuneration Committee, before being approved by its Board of Directors in its supervisory function.

NATIXIS AM Funds


Page 217


The NATIXIS Remuneration Committee itself has been established and acts in accordance with regulations, both in its composition (the independence and expertise of its members) and in the exercise of its duties. The majority of its members, its Chairman included, do not perform executive functions within OSTRUM AM, are external to the NATIXIS Group and are therefore completely independent. Before the final review referred to above, which takes place once the financial results have stabilised, an initial plan for the variable remuneration package is submitted to the OSTRUM AM Remuneration Committee in the fourth quarter of the year, before being presented in summary form to NATIXIS' General Management, which then submits it to its Remuneration Committee. 2. The remuneration of OSTRUM AM's Chief Executive Officer is proposed by NATIXIS IM's General Management, then presented to the OSTRUM AM Remuneration Committee and finally to the NATIXIS Remuneration Committee. 3. The remuneration of OSTRUM AM's Risk and Compliance Directors is reviewed, as part of the independent reviews carried out by the Risk and Compliance Departments, by the NATIXIS IM Risk and Compliance Directors. It is then submitted to the OSTRUM AM Remuneration Committee followed by the NATIXIS Remuneration Committee. In short, all roles assigned to remuneration committees and set out in the regulatory texts are in practice performed by the Remuneration Committee established at OSTRUM AM-company level and/or by the NATIXIS Remuneration Committee. The general and specific principles of the remuneration policy are communicated internally to all employees and members of the Works Council. OSTRUM AM also complies with all its obligations in terms of external advertising. This entire review, validation and communication process takes place every year. It includes any regulatory and contextual changes and is consistent with the NATIXIS remuneration policy. Finally, the entire OSTRUM AM remuneration policy is subject to a centralised and independent annual review by NATIXIS IM's Internal Audit Department. When OSTRUM AM delegates the financial management of one of the portfolios that it manages to another management company, it ensures that this delegated company complies with the regulations in force. Remuneration paid during the last financial year The total amount of remuneration for the financial year, broken down into fixed and variable remuneration, paid by the Management Company to its staff, and the number of beneficiaries, is as follows: Fixed remuneration in 2020*: €27,095,912 Variable remuneration awarded for 2020: €11,101,943 Employees concerned: 369 employees *Theoretical fixed remuneration for full-time equivalent (FTE) as at 31 December 2020 The aggregate amount of remuneration, broken down between the senior executives and members of staff of the Management Company whose activities have a significant impact on the risk profile of the Management Company and/or portfolios is as follows: Total remuneration awarded for 2020: €13,835,609 including, - Senior executives: €3,431,000 - Members of staff: €10,404,609

NATIXIS AM Funds


Page 218


DNCA FINANCE REMUNERATION POLICY 1. Preamble The compensation policy implemented by the DNCA Group takes into account the following factors The "Common provisions on remuneration policies in management companies" drawn up by the main professional associations representing management companies as well as the provisions resulting from the UCITS V, AIFM, MiFID 2 Directives, the ESMA guidelines on sound remuneration policies under the Directive on undertakings for collective investment in transferable securities (ESMA/2016/575) dated 14 October 2016 as well as Regulation (EU) 2019/2088 of the European Parliament and of the Council of 27 November 2019 on sustainability disclosures in the financial services sector. It has been defined and formalized by the Executive Committee of DNCA Finance. It is approved by Natixis Investment Managers (hereafter NIM) and by the supervisory body of each DNCA Group entity, reviewed annually and submitted for a compliance opinion to the DNCA Finance Compliance and Internal Control Manager. Its purpose is to promote sound and effective risk management and not to lead the members of the Supervisory Committee, the Executive Committee, or any other staff member of the DNCA Group to excessive risk taking. It is also defined in such a way as to avoid situations of conflict of interest and to prevent the taking of risks that are inconsiderate or incompatible with the interests of clients. This policy applies to all the personnel of the DNCA Group and specifies the specific provisions that exist for identified personnel. The compensation policy is based on the evaluation of skills and annual and multi-year performance criteria, both quantitative and qualitative. Its fundamental principles include the alignment of the interests of investors, employees and DNCA Group companies. 2. Perimeter of identified personnel Identified personnel include : - Members of the Executive Committee - Staff members responsible for portfolio management - The heads of control functions (risk, compliance and internal control) - Those responsible for support or administrative activities - Other risk takers - Employees who, in view of their total compensation, are in the same compensation bracket as the general management and risk takers A review of the scope of identified personnel is carried out annually. 3. Types of compensation The compensation structure of DNCA Group employees is identical for all employees and breaks down into : § a fixed remuneration ; § an individual variable compensation as specified below; § collective variable compensation (i.e. profit-sharing and incentive schemes). It should be noted that collective variable compensation is not covered by the AIFM and UCITS Directives as it is part of a general, non-discretionary policy and is not an incentive to take risks. It is therefore excluded from the definition of compensation. An appropriate balance is struck between the fixed and variable components of total compensation. The fixed component may represent a sufficiently high proportion of total compensation so that a flexible policy can be exercised with regard to the variable components of compensation, including the possibility of not paying any variable component. 4. Determination of variable compensation Individual variable compensation depends on the job and level of responsibility. It is awarded on a discretionary basis based on the evaluation of individual performance.

NATIXIS AM Funds


Page 219


It is made up as follows: § a cash component § a cash component indexed on a representative basket of FIAs and mutual funds set up by DNCA Finance for the identified personnel. The DNCA Group does not pay variable compensation using instruments or methods that would facilitate circumvention of the laws and regulations applicable to it. Variable compensation is awarded on the basis of the contribution to individual performance assessed by the DNCA Finance Executive Committee in accordance with the principles set out below. § The total variable compensation package is determined as a percentage of EBITDA (earnings before interest, taxes, depreciation, and amortization), thus enabling the amounts distributed to be calibrated according to the results generated by the DNCA Group. § The amount of this envelope is presented to Natixis Investment Managers ("NIM") at a formal meeting. The envelope is then validated by the Natixis Compensation Committee. § The envelopes of the different services are determined according to a Bottom/Up process with a stake at each step to determine the contribution to the collective performance. Criteria for Determining Compensation Discretionary Variable Compensation for Identified Personnel Performance assessment is based on quantitative and qualitative criteria specific to the main types of business of the identified personnel (Management, Trading Desk, Sales and Investment Advisory staff, Compliance and Control Functions, etc.). Internal / Risks). It integrates, depending on the function, a time scale and takes into account the respect of risk limits and the interest of the clients. The variable compensation package is determined on the basis of quantitative and qualitative criteria. Specific criteria incorporating sustainability risks, i.e. social, environmental and governance issues, must also be defined for all employees in the management teams. In order to avoid any conflict of interest or compromise their objectivity, the evaluation of compliance and internal control and risk control managers is carried out on the basis of objectives and results specific to these functions, independently of those of the business lines whose operations they validate and control. This acquisition is also subject to risk and compliance obligations. Failure to comply with these obligations may result in a partial or total reduction of the acquisition. Finally, it may be returned in whole or in part, in order to ensure that risks are adjusted after the fact. 5. Terms and conditions of payment of variable compensation for identified personnel Above a certain threshold of variable compensation, which is reviewed annually, the variable compensation awarded to identified employees will be paid as follows: At least 50% of this variable compensation will be deferred in time (it is announced but its acquisition is deferred in time). This proportion increases with the amount of variable compensation awarded and can reach 60% for the highest compensation; One-third of this amount is spread over the three fiscal years following the year in which the variable compensation is awarded. This deferred component will be indexed to the performance of a basket of funds (the "Basket of Funds"). The Basket of Funds is determined in such a way as to seek to align the interest of the employees as satisfactorily as possible with that of the investors without having a concentration of the targeted funds. It is composed of UCIs representative of the main management strategies of DNCA Finance. This Basket of Funds is likely to be adapted according to the evolutions of DNCA Finance1s product range and its management expertise. The composition and weighting of the Basket of Funds are subject to an annual review in order to ensure its representative character. The following two situations would lead to non-payment of the deferred portion: · If the financial situation of DNCA Finance were to deteriorate with the recognition of a negative EBITDA during a year of payment of one of the three thirds mentioned above, the payment could then be cancelled or reduced. If such a decision were to be taken, it would uniformly affect all employees who are part of the Identified Personnel and concerned, over the financial year in question, by a deferred variable allocation.

NATIXIS AM Funds


Page 220


· Such a decision would be the responsibility of DNCA Finance1s Executive Committee and would have to be validated by the Supervisory Committee and NIM, and then by the Compensation Committee of Natixis. · In the event of gross misconduct or serious misconduct by one of the persons concerned, which would be observed during a financial year in which one of the three thirds mentioned above is paid, the DNCA Group could reduce or even cancel the deferred portion that has not yet been paid to this person. Similarly, in the event of a major sustainability risk materializing, i.e. the occurrence of an event or situation in the environmental, social or governance field that would have a significant and lasting negative impact on the value of the managed funds/products, the envelope allocated to individual variable compensation. Discretionary variable compensation may be reduced or even cancelled, as well as, if applicable, the maturities in the course of acquisition for discretionary variable compensation already granted and deferred. The undeferred portion of the variable compensation will be paid in cash at the beginning of the year N+1 (usually end of January). 6. Prohibition to use hedging strategies and guaranteed variable compensation Employees agree not to use personal coverage or insurance strategies related to compensation or liability to offset the impact of the risk alignment embedded in compensation agreements. Guaranteed variable compensation is prohibited, except in the case of hiring. In this case, the warranty is strictly limited to one year. The total remuneration amount granted by DNCA Finance and its subsidiaries to all its employees for the 2020 financial exercise reaches EUR 38.6 millions. This amount is comprised of: - Total amount of fixed remunerations: EUR 11.9 millions; - Total amount of variable remuneration: EUR 26.7 millions. - Whose amount of variable remuneration differed from the identified personnel: EUR 11.2 millions. - Whose amount of variable remuneration not differed from the identified personnel and other personnel types: EUR 15.5 millions.

NATIXIS AM Funds


Page 221

SFTR (Securities Financing Transactions and of Reuse Regulation)

SECURITIES LENDING

TRANSACTIONS

Ostrum Euro Short Term

Credit

Ostrum Euro Credit

Ostrum Euro Aggregate

Seeyond Europe Minvol

Seeyond Global Minvol

Assets used In EUR In EUR In EUR In EUR In EUR In absolute terms 2,518,725.00 199,635.34 103,840,214.45 12,144,682.67 15,530,337.84

As a % of lendable assets 0.26% 0.21% 11.94% 1.62% 3.88%

As a % of total net asset value 0.26% 0.21% 11.60% 1.61% 3.79%

Transactions classified according to residual maturities

In EUR In EUR In EUR In EUR In EUR

Less than 1 day - - - - - From 1 day to 1 week - - - - -

From 1 week to 1 month - - - - - From 1 month to 3

months - - - - -

From 3 months to 1 year - - - - - Above 1 year - - - - -

Open maturity 2,518,725.00 199,635.34 103,840,214.45 12,144,682.67 15,530,337.84 Collateral received In EUR In EUR In EUR In EUR In EUR

Type: Cash

2,696,729.00 176,564.40 1,943,014.60

12,205,905.08

15,597,427.94

Quality (Bond collateral issuers rating): - - - - -

Currency:

EUR

2,696,729.00

176,564.40

1,943,014.60

12,205,905.08

15,597,427.94

Classification according to residual maturities:


From 1 week to 1 month - - - - - From 1 month to 3

months - - - - -

From 3 months to 1 year - - - - - Above 1 year - - - - -

Open maturity 2,696,729.00 176,564.40 1,943,014.60 12,205,905.08 15,597,427.94

Revenue components In EUR In EUR In EUR In EUR In EUR Revenue component of

the fund:

In absolute amount 9,032.67 1,952.74 61,727.59 49,670.50 34,363.90 In % of gross revenue 60% 60% 60% 60% 60%

Revenue component of third parties*


*Third party is Natixis Tradex Solutions, a related party of the Management Company

NATIXIS AM Funds


Page 222


SECURITIES LENDING

TRANSACTIONS

Ostrum Euro Bonds

Opportunities 12 Months

Ostrum Euro Infation

Ostrum Global

Aggregate

DNCA Global Convertible

Bonds

DNCA Euro Value Equity


the fund:

In absolute amount 2,671.39 115.84 1,308.32 1,527.19 379.66 In % of gross revenue 60% 60% 60% 60% 60%


In absolute amount 1,780,93 77.23 872,21 1,018.13 253.11 In % of gross revenue 40% 40% 40% 40% 40%

SECURITIES LENDING

TRANSACTIONS

Ostrum Global Emerging

Bonds

DNCA Global Emerging

Equity Revenue components In USD In EUR

Revenue component of the fund:

In absolute amount 2,165.09 2,077.09 In % of gross revenue 60% 60%


In absolute amount 1,443.39 1,384.73 In % of gross revenue 40% 40%

*Third party is Natixis Tradex Solutions, a related party of the Management Company Each sub-fund has Natixis Tradex Solutions as sole counterparty for securities lending positions. All transactions are bilateral transactions. There is no reuse of collateral cash.

NATIXIS AM Funds


Page 223


REPURCHASE AGREEMENT

TRANSACTIONS

Ostrum Euro Short Term Credit

Ostrum Euro Credit

Ostrum Euro Inflation

Seeyond Multi Asset Diversified

Growth Fund

Ostrum Euro Bonds

Opportunities 12 Months

Assets used In EUR In EUR In EUR In EUR In EUR In absolute terms 38,711,946.88 5,449,521.40 6,684,149.22 14,954,800.00 4,050,000.00


In EUR In EUR In EUR In EUR In EUR


From 1 week to 1 month - - - - -

From 1 month to 3 months - - - - -

From 3 months to 1 year - - - - -

Above 1 year - - - - - Open maturity 38,711,946.88 5,449,521.40 6,684,149.22 14,954,800.00 4,050,000.00

Collateral received In EUR In EUR In EUR In EUR In EUR

Type: Cash (borrowed at the

beginning of the transaction)

- - - - -

Currency:

EUR

- - - - -

Collateral paid In EUR In EUR In EUR In EUR In EUR Type:

Cash (borrowed at the beginning of the

transaction)

467,000.00 - - - -

Currency:

EUR

467,000.00

- -

- -


the fund:




*Third party is Natixis Tradex Solutions, a related party of the Management Company There is no reuse of collateral cash.

NATIXIS AM Funds


Page 224



TRANSACTIONS


Seeyond Multi Asset Conservative Growth Fund

Ostrum Global Aggregate

Assets used In EUR In EUR In EUR In absolute terms 56,667,608.29 33,162,500.00 604,494.97


In EUR In EUR In EUR

Less than 1 day - - - From 1 day to 1 week - - -

From 1 week to 1 month - - -

From 1 month to 3 months - - -

From 3 months to 1 year - - -

Above 1 year - - - Open maturity 56,667,608.29 33,162,500.00 604,494.97

Collateral received In EUR In EUR In EUR

Type: Cash (borrowed at the

beginning of the transaction)

- - -

Currency:

EUR

- - -

Collateral paid In EUR In EUR In EUR Type:

Cash (borrowed at the beginning of the

transaction)

1,895,000.00 511,000.00 -

Currency:

EUR

1,895,000.00 511,000.00 -

Revenue components In EUR In EUR In EUR Revenue component of

the fund:

In absolute amount 869,142.43 129,992.03 6,575.66 In % of gross revenue 60% 60% 60%



*Third party is Natixis Tradex Solutions, a related party of the Management Company There is no reuse of collateral cash.

NATIXIS AM Funds


Page 225

There is no open positions on Repurchase Agreement for the below sub-funds as at reporting date.


TRANSACTIONS

DNCA Global Convertible

Bonds

Seeyond Europe Minvol


Revenue components In USD In EUR In USD Revenue component of the fund:




There is no open positions on Reverse Repurchase Agreement for the below sub-funds as at reporting date.

REVERSE REPURCHASE AGREEMENT

TRANSACTIONS



Expenditure components: In EUR In EUR

Expenditure of the fund: In absolute amount 470.44 1,306.70

In % of gross expenditure 60% 60% Expenditure components:

Expenditure of third parties: In absolute amount 313.63 871.13

In % of gross expenditure 40% 40%

Each sub-fund has Caceis Bank, Luxembourg Branch as sole counterparty for reverse repurchase agreements. All transactions are bilateral transactions. There is no reuse of collateral cash.

Bonds MONTHLY REPORT 30/06/2021

Ostrum Euro Aggregate I (EUR)

n TOP 10 BEST ISSUERSIssuers WeightESG

RatingSIGNIFY NV 0.25 91.9LA BANQUE POSTALE SA 0.14 91.4AXA SA 0.13 88.1HSBC SFH FRANCE SA 0.01 88.1COOPERATIEVE RABOBANK UA 0.12 87.9ACEF HOLDING SCA 0.15 87.0ENI SPA 0.37 86.3UNICREDIT SPA 0.17 86.2ELECTRICITE DE FRANCE 0.18 85.9INTESA SANPAOLO SPA 0.96 85.8

In % of AuM (source Sustainalytics)

n WORST ISSUERSIssuers WeightESG

RatingCTP NV 0.14 43.8SNCF RESEAU 0.08 49.7UBISOFT ENTERTAINMENT SA 0.12 50.4CASSA DEPOSITI E PRESTITI SPA 0.13 51.4INDIGO GROUP SAS 0.15 52.7NOMAD FOODS BONDCO PLC 0.07 57.2MOTABILITY OPERATIONS GROUP PLC 0.10 58.4RTE RESEAU DE TRANSPORT D'ELECTRICITE SADIR

0.05 59.2

LEASEPLAN CORP NV 0.17 59.3COCA-COLA CO/THE 0.05 59.3

In % of AuM (source Sustainalytics)Issuers underperformer or laggard

n ESG RATING BY PILLAR (ON THE CREDIT)ESG Portfolio Rating ESG Rating Index

Environment 77.4 75.4Social 72.8 71.8Governance 73.5 72.1Global score 74.0 71.6Coverage rate 98% 97%

n AVERAGE PORTFOLIO SCORE

Fund Coverage rate

Index Coverage rate

Average score - Sovereigns

(SDG Index rating: 100 the best)

78.0 99% 79.2 100%

Average Score - Credit

(ESG Sustainalytics rating: 100 the best)

74.0 98% 71.6 97%

n OVERALL FUND SCOREESG rating portfolio ESG index score

76.1 77.2

n Rating ESGEnvironmental, Social, and Governance (ESG) Rating, Sustainalytics' ratings for credit issuers.This is a rating from 0 to 100, the highest rating being 100.In addition, within each sector, issuers are divided into five quintiles:« Leader », « Outperformer », « Average Performer », « Underperformer » and « Laggard ».We typically use this rating for the sectoral aspect that serves our management process.

n Holdings weighted rebased rate n Benchmark

Sustainalytics scale from "best" to at least "good" : Leader, Outperformer, Average Performer, Underperformer, Laggard

n Score SDG IndexSDG Index for Sovereign and Similar Issuers :This is a numerical score between 0 and 100, the best being 100. The SDG Index tracks theprogress made by countries in their pursuit of the 17 United Nations sustainable developmentgoals (SDGs).

n Poids poche taux rebasé n Benchmark l Score SDG (RHS)

SDG Index Score Scale: 100 being the highest score, 0 the lowest score

Page 226



CARBON INTENSITY CORPORATEn CARBON INTENSITY

Average carbon intensity (Scope 1 & 2)

Fund Index

Coverage rate (Fund / Index) 72% / 72%

Exposure of the portfolio and its index to carbon intensive companies, expressed in tonnes of CO2/Millions of dollars in revenue. Recommended action by TCFD (1).

n MAIN CONTRIBUTORS TO PORTFOLIO AVERAGE CARBON INTENSITY (SCOPE1 & 2)Enterprises (2) Contribution to fund carbon

intensity (%) (3)Carbon Intensity (tCO2 / Millions

of dollars in turnover)Carbon emissions (tCO2) (4)

DIGITAL DUTCH FINCO BV 8% 852 2,508,240ENI SPA 6% 536 41,902,560SSE PLC 6% 1,030 8,906,002ENGIE SA 4% 840 56,470,807TOTALENERGIES SE 4% 222 44,505,256ENEL SPA 4% 870 75,347,277ENEL FINANCE INTERNATIONAL NV 3% 870 75,347,277ELECTRICITE DE FRANCE 3% 451 35,983,284NATURGY FINANCE BV 3% 640 16,513,914EDP - ENERGIAS DE PORTUGAL SA 2% 949 15,230,068Source: Trucost

The carbon intensity corresponds to the volume of CO2 emitted for a million dollars of turnover achieved.To calculate this intensity, we take into account not only the direct emissions related to the company’s operations (Scope 1) but also those related to the provision of thenecessary energy (Scope 2).

Carbon intensity of a company (tonnes of CO2 / Millions of dollars in turnover) = (Scope 1 + Scope 2) / Millions of dollars in turnover.

Scope 1: Greenhouse gas emissions from the combustion of fossil fuels and production processes owned or controlled by the company.

Scope 2: Indirect gas emissions related to the company’s energy consumption.

Average carbon intensity of the fund is the sum of the corporate carbon intensities weighted by portfolio weights.

1. The TCFD is the Financial Information Reporting Working Group established by the Financial Stability Board. The Financial Stability Board, or FSB , is an international economic grouping created at the G20 meeting in London in April 2009.2. The calculation of the average carbon intensity of the portfolio only takes into account the securities of private issuers held in our internal funds.3. Represents the company’s % contribution to the average carbon intensity of the portfolio.4. Represents the number of tonnes of CO2 emitted by the company on Scope 1 and Scope 2.

Page 227



CARBON INTENSITY GOVIESn CARBON INTENSITY

Average carbon intensity

Fund Index



n MAIN CONTRIBUTORS TO PORTFOLIO AVERAGE CARBON INTENSITYCountry (2) Contribution to fund carbon



Italy 15 194 389Spain 12 226 315France 8 144 392Portugal 5 327 78Greece 2 450 94Finland 2 224 60Belgium 1 209 111Austria 1 181 80Netherlands 1 215 195Ireland 1 154 60Source: Trucost

Carbon intensity is the volume of CO2 emitted per $1 million of GDP generated. To calculate this, we take into account a country's greenhouse gas (GHG) emissions, includingland use, land-use change and forestry at state-level as reported by PRIMAP.

A country’s carbon intensity (tons of CO2 / Millions of dollars of GDP) = (Carbon Emissions) / Millions of dollars of GDP

Carbon Emissions: A country's greenhouse gas (GHG) emissions, including land use, land-use change and forestry at state-level as reported by PRIMAP

The portfolio’s average carbon intensity is the sum of the countries’ carbon intensities, weighted according to their share in the portfolio.

1 TCFD is the Task Force on Climate-Related Financial Disclosures set up by the Financial Stability Board. The Financial Stability Board (FSB) is an international economic body established after the G20 London summit in April 2009 .2 The calculation of the portfolio’s average carbon intensity only considers the securities of sovereign issuers held in our internal funds.3 Represents the country’s contribution (as a %) to the portfolio’s average carbon intensity.4 Represents the number of millions of tons of CO2 equivalent emitted by the country for its share of debt held in the portfolio.

Page 228


Ostrum Euro Short Term Credit I (EUR)

n TOP 10 BEST ISSUERSIssuers WeightESG

RatingAXA SA 0.59 88.1VALEO 0.56 88.0WORLDLINE SA/FRANCE 1.92 86.5ENI SPA 0.96 86.3UNICREDIT SPA 2.22 86.2ELECTRICITE DE FRANCE 1.35 85.9INTESA SANPAOLO SPA 3.24 85.8MUENCHENER RUECKVERSICHERUNGS-GESELLSCHAFT AG IN M

1.08 83.7

GALP ENERGIA SGPS SA 0.47 83.6ORSTED AS 0.05 83.3

In % of AuM (source Sustainalytics)

n WORST ISSUERSIssuers WeightESG

RatingCTP NV 0.33 43.8INDUSTRIAL & COMMERCIAL BANK OF CHINA LTD/SINGAPOR

0.33 48.4

RCI BANQUE SA 1.85 50.4FCA BANK SPA/IRELAND 0.89 50.7PSA BANQUE FRANCE SA 1.71 50.8EASYJET PLC 0.72 50.9HITACHI CAPITAL UK PLC 0.51 52.2NISSAN MOTOR CO LTD 0.65 53.4FIDELITY NATIONAL INFORMATION SERVICES INC

1.03 56.7

ADLER REAL ESTATE AG 0.52 56.7In % of AuM (source Sustainalytics)

Issuers underperformer or laggard

n ESG RATING BY PILLAR (ON THE CREDIT)ESG Portfolio Rating ESG Rating Index

Environment 75.9 75.2Social 73.1 71.7Governance 71.6 71.4Global score 72.4 71.8Coverage rate 100% 100%

n OVERALL FUND SCOREESG rating portfolio ESG index score

71.7 71.8

n Rating ESGEnvironmental, Social, and Governance (ESG) Rating, Sustainalytics' ratings for credit issuers.This is a rating from 0 to 100, the highest rating being 100.In addition, within each sector, issuers are divided into five quintiles:« Leader », « Outperformer », « Average Performer », « Underperformer » and « Laggard ».We typically use this rating for the sectoral aspect that serves our management process.

n Holdings weighted rebased rate n Benchmark

Sustainalytics scale from "best" to at least "good" : Leader, Outperformer, Average Performer, Underperformer, Laggard

Page 229


Ostrum Euro Short Term Credit I (EUR)

CARBON INTENSITY CORPORATEn CARBON INTENSITY

Average carbon intensity (Scope 1 & 2)

Fund Index



n MAIN CONTRIBUTORS TO PORTFOLIO AVERAGE CARBON INTENSITY (SCOPE1 & 2)Enterprises (2) Contribution to fund carbon



EASYJET PLC 11% 1,108 4,248,144TOTALENERGIES SE 10% 222 44,505,256DIGITAL EURO FINCO LLC 9% 852 2,508,240ELECTRICITE DE FRANCE 9% 451 35,983,284ENI SPA 7% 536 41,902,560EDP - ENERGIAS DE PORTUGAL SA 5% 949 15,230,068IMERYS SA 5% 615 3,331,497OMV AG 4% 414 10,878,204DIGITAL DUTCH FINCO BV 3% 852 2,508,240ARKEMA SA 2% 356 3,483,478Source: Trucost

The carbon intensity corresponds to the volume of CO2 emitted for a million dollars of turnover achieved.To calculate this intensity, we take into account not only the direct emissions related to the company’s operations (Scope 1) but also those related to the provision of thenecessary energy (Scope 2).

Carbon intensity of a company (tonnes of CO2 / Millions of dollars in turnover) = (Scope 1 + Scope 2) / Millions of dollars in turnover.

Scope 1: Greenhouse gas emissions from the combustion of fossil fuels and production processes owned or controlled by the company.

Scope 2: Indirect gas emissions related to the company’s energy consumption.

Average carbon intensity of the fund is the sum of the corporate carbon intensities weighted by portfolio weights.

1. The TCFD is the Financial Information Reporting Working Group established by the Financial Stability Board. The Financial Stability Board, or FSB , is an international economic grouping created at the G20 meeting in London in April 2009.2. The calculation of the average carbon intensity of the portfolio only takes into account the securities of private issuers held in our internal funds.3. Represents the company’s % contribution to the average carbon intensity of the portfolio.4. Represents the number of tonnes of CO2 emitted by the company on Scope 1 and Scope 2.

Page 230

ANNUAL REPORT

SEEYOND EUROPE MINVOL

JUNE 2021 SHARE CLASS : I/A(EUR)

Généré le : 13/08/2021

Extra-Financial Report

ESG RISK CATEGORIES From lowest risk to highest risk

Fund Indice

Negligible 4

4% 18

2%

Low 65

55% 212

46%

Medium 34

37% 165

44%

High 8

5% 34

7%

Severe 0

0% 0

0%

Total 111

99% 429

99%

ESG RISK CATEGORIES (SUSTAINALYTICS) From lowest risk to highest risk

Fund

Indice

ESG RISK RATING SCORE The lower the score, the lower the risk

Fund Indice 18.99 20.41

ESG RISK RATING SCORE (SUSTAINALYTICS) The lower the score, the lower the risk

Fund

Indice

CARBON EMISSIONS (MTC02e) – PORTFOLIO LEVEL

CARBON INTENSITY (TC02e/USD Mln Sales) – PORTFOLIO LEVEL

Carbon emissions cover scope 1 and scope 2 emissions of the various types of greenhouse gases, expressed in Million tons of carbon dioxide equivalent (MTCO2e). Scope 1 covers the direct emissions associated with the energy that a company produces for its own use. Scope 2 covers the indirect emissions associated with the energy that a company purchases from third party providers. At a portfolio level it is the weighted average companies’ Total carbon Emission of the portfolio. Source: Sustainalytics

Carbon intensity is a relative metric used to compare company emissions across industries. It is the ratio of ‘carbon emissions’ divided by ‘total revenue’; the figure is expressed in tons of carbon dioxide equivalent per million USD of total revenue. At a portfolio level it is the weighted average companies’ Carbon Intensity of the portfolio). Source: Sustainalytics

Data coverage (%): 99%

Data coverage (%): 99%

Sustainalytics’ ESG Risk Rating measures the degree to which a company’s economic value is at risk driven by ESG factors and is assessed through their proprietary calculation of unmanaged ESG risks. ESG Risk Rating score: It evaluates the level of unmanaged risk at a portfolio level (weighted average companies' Risk score within the portfolio). Ratings scale ranging from 0-100, with 100 being the most severe. The lower the score the lower the risk. ESG Risk categories: Five risk levels, from lowest to highest, assessing the material financial impacts driven by ESG factors: Negligible (score: 0-10); Low (10-20); Medium (20-30); High (30-40); Severe (40-100)

Data coverage (%): 99% Data coverage (%): 98%

Lowest risk

Highest risk

Indice: MSCI Europe DNR

NEGLIGIBLE LOW MEDIUM HIGH SEVERE

Page 231

NATIXIS INVESTMENT MANAGERS INTERNATIONAL43, avenue Pierre Mendès-France - CS 41432 - 75648 Paris cedex 13 France - Tél. : 01 78 40 80 00Société anonyme au capital de 51 371 060,28 euros329 450 738 RCS Paris - APE 6630Z - TVA : FR 203 294 507 38

fructi flexible 100 - euronext

Documents