Natixis Funds launches McDonnell Intermediate Municipal Bond Fund

By Toni Weeks

San Diego, Dec. 31 - Natixis Funds Trust II announced the launch of its McDonnell Intermediate Municipal Bond Fund, according to a 497K filing with the Securities and Exchange Commission.

The fund seeks a high level of federal-tax-exempt current income consistent with the preservation of capital. Under normal market conditions, the fund invests at least 80% of its net assets, plus borrowings made for investment purposes, in municipal securities that pay interest exempt from federal income taxes. The fund may invest up to 20% of its assets in debt securities subject to the federal alternative minimum tax.

The fund will invest primarily in investment-grade, fixed-income securities, with up to 10% of assets invested in junk bonds.

Dawn Mangerson, James Grabovac, Lawrence Jones and Steve Wlodarski are the portfolio managers.

The fund offers class A, class C and class Y shares. The ticker symbols are MIMAX, MIMCX and MIMYX, respectively.

Shareholder fees consist of a 3.5% maximum sales charge for class A shares and a 1% maximum deferred sales charge for class C shares.

The management fee is 0.4%. There is a fee waiver and expense reimbursement agreement with the adviser that limits total annual fund operating expenses to 0.8% for class A, 1.55% for class C and 0.55% for class Y shares.

Boston-based NGAM Advisors, LLC serves as the fund's investment adviser. McDonnell is the subadviser.

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