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Natixis Asset Management awarded at the Actifs du Patrimoine Awards

Natixis Asset Management won two Golden Prizes for distribution(1) at the 2009 edition of the Actifs du Patrimoine Awards handed out by L’Agefi-Actifs, a weekly French magazine:(2)

The Golden Prizes for distribution award the funds distributed in France and exclusively dedicated to wealth management.

This purely quantitative approach validates record sales of UCITS. Thus, according to EuroPerformance, the Natixis

Souverains Euro 3-5 and the Natixis Actions US Value funds were the top sellers in their respective categories between

April 1, 2008 and March 31, 2009.

n Focus on Natixis Souverains Euro 3-5

Managed by Abdel-Rani Guermat, Natixis Souverains Euro 3-5 aims at benefiting from the potential evolution of euro

denominated sovereign bonds with maturities ranging from 3-to-5 years. This fund is dedicated to 3 to 5 year maturity

government bonds from the euro zone and invests in government bonds issued or guaranteed by euro zone countries,

with maturity ranging mostly from 3 to 5 years.

Natixis Souverains Euro 3-5 aims to outperform the EuroMTS 3-5 index, representing euro zone

government bonds with maturity ranging from 3 to 5 years, over an investment period of at least two

years.

The Natixis Souverains Euro 3-5 management team relies on complementary inputs produced by

different teams from the Fixed Income department allowing the ranking of the strategies applied to the

portfolio: (a) conclusions of the Macroeconomic Research strategists; (b) analyses of 5 specialised task

forces (Sector Teams)(2) which provide opinions on key elements of the fixed income markets: duration,

flash AwArdsJUne 2009

The figures mentioned refer to previous years. The Fund’s past performance or reference to any rankings or awards received by it or its manager cannot be interpreted as indicating the future performance of the funds or of their managers.

Golden Prize for distribution

- Natixis Souverains Euro 3-5 -

category "Bond funds – Networks"

over 1 year

Golden Prize for distribution

- Natixis Actions US Value -

category "Equity funds – Networks"

over 1 year

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yield curve, relative value, technical analysis and volatility

(they combine members of the following departments:

Government Bond management, Insurance management,

Trading Desk, financial strategists and economists);

(c) recommendations of the specialist Government Bond

committees (which integrate all of the research and prioritise

the strategies to be implemented in the portfolio).

n Focus on Natixis Actions US Value

Natixis Actions US Value is invested in large US

capitalizations and aims to outperform its reference index,

the S&P 500 (in USD) over a period of 5 years. Metropolitan

West Capital Management(3), a California-based investment

company specialized in "value" type management, was

entrusted with management of the fund.

The fund managers identify high-quality companies which

are undervalued by the market and which offer catalysts

(reorganizations, strategy or management changes,

innovations, etc.) which could increase their real value.

The securities in the portfolio (between 35 and 45) are

purchased with an investment horizon of 3 to 5 years,

which explains the relatively low rate of annual rotation of

around 30%.

Lastly, the fund managers respect a strict sales principle

based on in-depth research into the values to detect any

possible deterioration of the fundamentals.

(1) The Actifs du Patrimoine Awards

7 Golden Prizes were handed out during this 2009 edition:

Golden Prize – One+ year equity funds – Specialists

Golden Prize – One+ year diversified funds – Networks

Golden Prize – One+ year diversified funds – Specialists

Golden Prize – One+ year bond funds – Networks

Golden Prize – One+ year bond funds – Specialists

Golden Prize – Bond funds below one year – Networks

Golden Prize – Bond funds below one year – Specialists

-Conditions for participation:

Any promoter of UCITS and life insurance products can compete: network banks, private banks, management companies, insurance companies, offers designed for intermediaries.

(2) The sector teams play a key role for the various bond teams at Natixis Asset Management. These groups of specialists include managers, analysts, strategists and economists and are organized by asset subclasses (e.g.: credit), investment strategy (e.g.: curve), or credit market segment (e.g.: telecom sector). Their goal is to provide technical expertise by issuing advice and proposing strategies to the management teams which then allocate the funds based on these recommendations.

(3) Metropolitan West Capital Management

Metropolitan West Capital Management was created in 1997 by Howard Gleicher, Gary Lisenbee and Steve Borowski. The company is held 20% by its directors and 80% by Evergreen, the assets management subsidiary of the US bank Wachovia.

The clients of the California-based Metropolitan West Capital Management are mainly institutions, foundations, retirement funds and wealthy private parties.

Metropolitan West Capital Management specializes in four management styles:

Large Cap Intrinsic Value Equity, Small Cap Intrinsic Value Equity, International Core Value, Global Intrinsic Equity.

The teams responsible for the Large Cap Intrinsic Value Equity strategy (applied to management of the Natixis Actions US Value Fund) are composed of 10 employees. Most of these analyst-fund managers have been working together for more than 10 years.

In late March 2009, Metropolitan West Capital Management was responsible for managing a total of 7.3 billion dollars in assets.

flash AwArds

The figures mentioned refer to previous years. The Fund’s past performance or reference to any rankings or awards received by it or its manager cannot be interpreted as indicating the future performance of the funds or of their managers.