# EDGAR Filing Document

**Accession Number:** 0001095726
**File Stem:** 0001193125-26-133871
**Filing Date:** 2026-3
**Character Count:** 174981
**Document Hash:** b1313640962262349d35c6d48961d196
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-133871.hdr.sgml**: 20260331

**ACCESSION NUMBER**: 0001193125-26-133871

**CONFORMED SUBMISSION TYPE**: N-CSR

**PUBLIC DOCUMENT COUNT**: 28

**CONFORMED PERIOD OF REPORT**: 20260131

**FILED AS OF DATE**: 20260331

**DATE AS OF CHANGE**: 20260331

**EFFECTIVENESS DATE**: 20260331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Natixis Funds Trust IV
- **CENTRAL INDEX KEY:** 0001095726

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0131

**FILING VALUES:**
- **FORM TYPE:** N-CSR
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-09945
- **FILM NUMBER:** 26819675

**BUSINESS ADDRESS:**
- **STREET 1:** 888 BOYLSTON ST
- **STREET 2:** 8TH FLOOR
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02199
- **BUSINESS PHONE:** 617-449-2810

**MAIL ADDRESS:**
- **STREET 1:** 888 BOYLSTON ST
- **STREET 2:** 8TH FLOOR
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02199

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** IXIS Advisor Funds Trust IV
- **DATE OF NAME CHANGE:** 20050502

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** CDC NVEST COMPANIES TRUST I
- **DATE OF NAME CHANGE:** 20010503

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** NVEST COMPANIES TRUST I
- **DATE OF NAME CHANGE:** 19990925

## Series and Classes Contracts Data

### AEW Global Focused Real Estate Fund (Series ID: S000008059)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000021867 | Class A      | NRFAX           |
| C000021869 | Class C      | NRCFX           |
| C000021870 | Class Y      | NRFYX           |
| C000128774 | Class N      | NRFNX           |

?xml version='1.0' encoding='ASCII'? Natixis Funds Trust IV

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

#### FORM N-CSR

#### CERTIFIED SHAREHOLDER REPORT OF REGISTERED

#### MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number: 811-09945

Natixis Funds Trust IV

(Exact name of Registrant as specified in charter)

888 Boylston Street, Suite 800 Boston, Massachusetts 02199-8197

(Address of principal executive offices) (Zip code)

Susan McWhan Tobin, Esq.

Natixis Distribution, LLC

888 Boylston Street, Suite 800

Boston, Massachusetts 02199-8197

(Name and address of agent for service)

Registrant's telephone number, including area code: (617) 449-2139

Date of fiscal year end: January 31

Date of reporting period: January 31, 2026

------

#### Item 1. Reports to Stockholders.
(a) The Registrant's Annual Tailored Shareholder Reports transmitted to stockholders pursuant to Rule 30e-1 under the Investment Company Act of 1940 are as follows:

# Class A

# NRFAX

# AEW Global Focused Real Estate Fund
![Image](g28755i97c26f070b62fb46d6ac.jpg)

## Annual Shareholder Report - January 31, 2026
This annual shareholder report contains important information about AEW Global Focused Real Estate Fund for the period of February 1, 2025 to January 31, 2026. You can find additional information (including tax information) about the Fund at im.natixis.com/funddocuments. You can also request the information by contacting us at (800) 225-5478 or by contacting your financial intermediary directly.

## **What were the fund costs for the last year?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment<sup>Footnote Reference†</sup>** |
| Class A | $121 | 1.15% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>†</sup> | &nbsp;&nbsp;Annualized for periods less than one year (if applicable). |

---

## How did the fund perform last year and what affected its performance?
**Explanation of Fund Performance** 

The Fund is actively managed and primarily invests in global real estate securities. Performance is influenced by underlying real estate assets, company management, and capital market conditions. The Fund's investment strategy is built upon our team's highest conviction securities, resulting in a high active share and a portfolio diversified across property types and geographic regions: North America, Europe, and Asia Pacific.

**Top Contributors to Performance**

• The Fund's relative overweights to Welltower and CareTrust REIT, plus lack of exposure to Alexandria Real Estate, were the top individual contributors.

• Stock selection in the United States, Hong Kong, and Spain was positive, as were the Fund's relative overweights to France, the Netherlands, and the United Kingdom.

• On a sector basis, selection within Industrial, Triple Net Lease, and Health Care, plus an overweight to Industrial, most notably contributed.

**Top Detractors from Performance**

• Relative overweights to AvalonBay Communities and Highwoods Properties, as well as exposure to off-benchmark HMC Capital, were the leading individual detractors.

• Stock selection in Australia, Japan, and the United Kingdom, plus underweights to Switzerland, Japan, and Hong Kong, notably detracted from relative performance.

• On a sector basis, selection within Diversified, Apartment, and Manufactured Housing, plus an overweight to Apartments, detracted from relative performance.

**Investment Activity**

The investment strategy seeks to identify real estate equity securities with the best total return potential using top-down research and bottom-up security selection. AEW leverages proprietary market research, external direct real estate research, and extensive firm experience in all decisions. Over the period, we increased exposure to the Asia Pacific region and Switzerland while decreasing exposure to the United States, Sweden, and France.

## Fund Performance
The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume dividends and capital gains are reinvested. The tables do not reflect taxes shareholders might owe on any fund distributions or when they redeem their shares. You cannot invest directly in an index.

### Total Return Based on a Hypothetical $10,000 Investment
![Growth of 10K Chart](g28755i6643d9dfb3228b80dac9.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Class A with load** | **MSCI World Index (Net)** | **FTSE EPRA Nareit Developed Index (Net)** |
| **01/2016** | $9426 | $10000 | $10000 |
| **02/2016** | $9432 | $9926 | $10043 |
| **03/2016** | $10375 | $10599 | $10994 |
| **04/2016** | $10072 | $10767 | $10983 |
| **05/2016** | $10257 | $10827 | $10978 |
| **06/2016** | $10856 | $10706 | $11375 |
| **07/2016** | $11287 | $11158 | $11945 |
| **08/2016** | $10874 | $11168 | $11633 |
| **09/2016** | $10720 | $11227 | $11517 |
| **10/2016** | $10138 | $11010 | $10862 |
| **11/2016** | $9952 | $11168 | $10565 |
| **12/2016** | $10420 | $11435 | $10873 |
| **01/2017** | $10322 | $11711 | $10931 |
| **02/2017** | $10700 | $12036 | $11272 |
| **03/2017** | $10399 | $12164 | $11097 |
| **04/2017** | $10386 | $12344 | $11218 |
| **05/2017** | $10286 | $12606 | $11315 |
| **06/2017** | $10574 | $12654 | $11399 |
| **07/2017** | $10687 | $12957 | $11606 |
| **08/2017** | $10654 | $12975 | $11621 |
| **09/2017** | $10672 | $13266 | $11582 |
| **10/2017** | $10532 | $13517 | $11526 |
| **11/2017** | $10772 | $13810 | $11847 |
| **12/2017** | $10795 | $13997 | $11999 |
| **01/2018** | $10373 | $14736 | $11998 |
| **02/2018** | $9592 | $14125 | $11194 |
| **03/2018** | $9931 | $13817 | $11456 |
| **04/2018** | $10034 | $13976 | $11680 |
| **05/2018** | $10423 | $14064 | $11873 |
| **06/2018** | $10901 | $14057 | $12042 |
| **07/2018** | $10953 | $14496 | $12144 |
| **08/2018** | $11285 | $14675 | $12259 |
| **09/2018** | $10962 | $14757 | $12006 |
| **10/2018** | $10696 | $13674 | $11561 |
| **11/2018** | $11243 | $13829 | $11990 |
| **12/2018** | $10289 | $12777 | $11323 |
| **01/2019** | $11405 | $13771 | $12554 |
| **02/2019** | $11483 | $14186 | $12535 |
| **03/2019** | $11845 | $14372 | $12975 |
| **04/2019** | $11845 | $14882 | $12804 |
| **05/2019** | $11845 | $14023 | $12767 |
| **06/2019** | $11894 | $14947 | $12966 |
| **07/2019** | $11910 | $15021 | $13011 |
| **08/2019** | $12219 | $14714 | $13255 |
| **09/2019** | $12485 | $15027 | $13567 |
| **10/2019** | $12827 | $15409 | $13906 |
| **11/2019** | $12676 | $15838 | $13736 |
| **12/2019** | $12745 | $16313 | $13804 |
| **01/2020** | $12908 | $16214 | $13920 |
| **02/2020** | $11974 | $14843 | $12773 |
| **03/2020** | $9642 | $12879 | $9866 |
| **04/2020** | $10040 | $14286 | $10562 |
| **05/2020** | $10282 | $14976 | $10587 |
| **06/2020** | $10472 | $15372 | $10859 |
| **07/2020** | $10918 | $16107 | $11161 |
| **08/2020** | $11160 | $17183 | $11442 |
| **09/2020** | $10884 | $16591 | $11086 |
| **10/2020** | $10548 | $16082 | $10717 |
| **11/2020** | $11593 | $18138 | $12131 |
| **12/2020** | $12008 | $18907 | $12556 |
| **01/2021** | $11754 | $18719 | $12455 |
| **02/2021** | $12310 | $19199 | $12916 |
| **03/2021** | $12680 | $19838 | $13284 |
| **04/2021** | $13521 | $20761 | $14137 |
| **05/2021** | $13780 | $21060 | $14390 |
| **06/2021** | $13975 | $21374 | $14502 |
| **07/2021** | $14445 | $21757 | $15058 |
| **08/2021** | $14646 | $22298 | $15256 |
| **09/2021** | $13890 | $21372 | $14372 |
| **10/2021** | $14879 | $22583 | $15231 |
| **11/2021** | $14476 | $22088 | $14890 |
| **12/2021** | $15360 | $23032 | $15832 |
| **01/2022** | $14504 | $21813 | $14923 |
| **02/2022** | $14216 | $21262 | $14554 |
| **03/2022** | $14818 | $21845 | $15207 |
| **04/2022** | $14044 | $20030 | $14374 |
| **05/2022** | $13170 | $20046 | $13749 |
| **06/2022** | $11990 | $18309 | $12554 |
| **07/2022** | $12949 | $19763 | $13554 |
| **08/2022** | $12101 | $18937 | $12674 |
| **09/2022** | $10656 | $17176 | $11100 |
| **10/2022** | $10889 | $18410 | $11431 |
| **11/2022** | $11730 | $19690 | $12201 |
| **12/2022** | $11383 | $18854 | $11860 |
| **01/2023** | $12450 | $20188 | $12925 |
| **02/2023** | $11891 | $19702 | $12355 |
| **03/2023** | $11589 | $20311 | $11953 |
| **04/2023** | $11908 | $20667 | $12178 |
| **05/2023** | $11352 | $20461 | $11633 |
| **06/2023** | $11700 | $21698 | $11982 |
| **07/2023** | $12072 | $22427 | $12433 |
| **08/2023** | $11679 | $21891 | $12016 |
| **09/2023** | $10980 | $20947 | $11282 |
| **10/2023** | $10574 | $20339 | $10742 |
| **11/2023** | $11770 | $22246 | $11883 |
| **12/2023** | $12882 | $23338 | $13008 |
| **01/2024** | $12299 | $23618 | $12485 |
| **02/2024** | $12310 | $24620 | $12410 |
| **03/2024** | $12709 | $25411 | $12839 |
| **04/2024** | $11967 | $24467 | $12072 |
| **05/2024** | $12444 | $25560 | $12483 |
| **06/2024** | $12490 | $26080 | $12526 |
| **07/2024** | $13257 | $26539 | $13282 |
| **08/2024** | $14013 | $27241 | $14113 |
| **09/2024** | $14481 | $27740 | $14538 |
| **10/2024** | $13796 | $27189 | $13800 |
| **11/2024** | $14202 | $28437 | $14129 |
| **12/2024** | $13104 | $27696 | $13129 |
| **01/2025** | $13244 | $28673 | $13358 |
| **02/2025** | $13568 | $28467 | $13655 |
| **03/2025** | $13204 | $27199 | $13339 |
| **04/2025** | $13345 | $27441 | $13466 |
| **05/2025** | $13704 | $29065 | $13805 |
| **06/2025** | $13828 | $30320 | $13926 |
| **07/2025** | $13501 | $30710 | $13764 |
| **08/2025** | $14167 | $31511 | $14365 |
| **09/2025** | $14295 | $32524 | $14493 |
| **10/2025** | $14076 | $33175 | $14271 |
| **11/2025** | $14339 | $33269 | $14558 |
| **12/2025** | $14156 | $33538 | $14387 |
| **01/2026** | $14635 | $34289 | $14926 |

---

**Performance data shown represents past performance and is no guarantee of, and is not necessarily indicative of, future results. Total return and value will vary, and you may have a gain or loss when shares are sold. Current performance may be lower or higher than quoted. For the most recent month-end performance, visit im.natixis.com/en-us/products/mutual-funds/price-and-performance.**

## Average Annual Total Returns (%)

---

| | | | | |
|:---|:---|:---|:---|:---|
| AATR | **1 Year** | **5 Years** | **10 Years** | **Since Inception 7/18/05** |
| Class A at NAV | 10.50% | 4.48% | 4.50% | 8.18% |
| Class A with 5.75% MSC<sup>Footnote Reference1</sup> | 4.13% | 3.25% | 3.88% | 7.93% |
| MSCI World Index (Net) | 19.58% | 12.87% | 13.11% | -% |
| FTSE EPRA Nareit Developed Index (Net) | 11.74% | 3.69% | 4.09% | -% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>1</sup> | &nbsp;&nbsp;Maximum sales charge |

---

## Key Fund Statistics

---

| | |
|:---|:---|
| Total Net Assets | $34686318 |
| # of Portfolio Holdings (including overnight repurchase agreements) | 60 |
| Portfolio Turnover Rate | 64% |
| Total Advisory Fees Paid (after waiver/reimbursement, if applicable) | $0 |

---

## What did the Fund invest in? (% of Net Assets)

### Industry Summary
![Group By Sector Chart](g28755idf578c3b3fe152e39204.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Other investments less than 3% of net assets<sup>Footnote Reference\*</sup> | 1.7% |
| Office REITs | 5.9% |
| Diversified REITs | 7.9% |
| Health Care REITs | 10.1% |
| Residential REITs | 10.4% |
| Real Estate Management & Development | 14.3% |
| Industrial REITs | 15.5% |
| Specialized REITs | 17.0% |
| Retail REITs | 17.2% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Net of other assets less liabilities |

---

### Top Ten Holdings

---

| | |
|:---|:---|
| Welltower, Inc. | 10.1% |
| Prologis, Inc. | 6.3% |
| Equinix, Inc. | 4.9% |
| AvalonBay Communities, Inc. | 4.1% |
| Digital Realty Trust, Inc. | 3.8% |
| Simon Property Group, Inc. | 3.8% |
| Highwoods Properties, Inc. | 3.7% |
| Brixmor Property Group, Inc. | 3.3% |
| VICI Properties, Inc. | 3.2% |
| CubeSmart | 3.1% |

---

## Material Fund Changes
There were no material fund changes during the period.

### Country Weightings
![Group By Country Chart](g28755ie5f5b30cf9ff7606802c.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Other investments less than 3% of net assets<sup>Footnote Reference\*</sup> | 11.4% |
| Hong Kong | 3.5% |
| United Kingdom | 4.4% |
| Australia | 6.4% |
| Japan | 8.7% |
| United States | 65.6% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Net of other assets less liabilities |

---

There were no changes in or disagreements with Accountants during the period.

![An image of a QR code that, when scanned, navigates the user to the following URL: https://im.natixis.com/funddocuments](g28755i1fcdf11662ce31caba8c.jpg)

For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit im.natixis.com/funddocuments.

![Image](g28755id95e0c2130cb62475128.jpg)

# Class A

# NRFAX

# AEW Global Focused Real Estate Fund

#### Annual Shareholder Report

#### January 31, 2026

#### TAEW99A-0126

# Class C

# NRCFX

# AEW Global Focused Real Estate Fund
![Image](g28755i97c26f070b62fb46d6ac.jpg)

## Annual Shareholder Report - January 31, 2026
This annual shareholder report contains important information about AEW Global Focused Real Estate Fund for the period of February 1, 2025 to January 31, 2026. You can find additional information (including tax information) about the Fund at im.natixis.com/funddocuments. You can also request the information by contacting us at (800) 225-5478 or by contacting your financial intermediary directly.

## **What were the fund costs for the last year?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment<sup>Footnote Reference†</sup>** |
| Class C | $199 | 1.90% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>†</sup> | &nbsp;&nbsp;Annualized for periods less than one year (if applicable). |

---

## How did the fund perform last year and what affected its performance?
**Explanation of Fund Performance** 

The Fund is actively managed and primarily invests in global real estate securities. Performance is influenced by underlying real estate assets, company management, and capital market conditions. The Fund's investment strategy is built upon our team's highest conviction securities, resulting in a high active share and a portfolio diversified across property types and geographic regions: North America, Europe, and Asia Pacific.

**Top Contributors to Performance**

• The Fund's relative overweights to Welltower and CareTrust REIT, plus lack of exposure to Alexandria Real Estate, were the top individual contributors.

• Stock selection in the United States, Hong Kong, and Spain was positive, as were the Fund's relative overweights to France, the Netherlands, and the United Kingdom.

• On a sector basis, selection within Industrial, Triple Net Lease, and Health Care, plus an overweight to Industrial, most notably contributed.

**Top Detractors from Performance**

• Relative overweights to AvalonBay Communities and Highwoods Properties, as well as exposure to off-benchmark HMC Capital, were the leading individual detractors.

• Stock selection in Australia, Japan, and the United Kingdom, plus underweights to Switzerland, Japan, and Hong Kong, notably detracted from relative performance.

• On a sector basis, selection within Diversified, Apartment, and Manufactured Housing, plus an overweight to Apartments, detracted from relative performance.

**Investment Activity**

The investment strategy seeks to identify real estate equity securities with the best total return potential using top-down research and bottom-up security selection. AEW leverages proprietary market research, external direct real estate research, and extensive firm experience in all decisions. Over the period, we increased exposure to the Asia Pacific region and Switzerland while decreasing exposure to the United States, Sweden, and France.

## Fund Performance
The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume dividends and capital gains are reinvested. The tables do not reflect taxes shareholders might owe on any fund distributions or when they redeem their shares. You cannot invest directly in an index.

### Total Return Based on a Hypothetical $10,000 Investment
![Growth of 10K Chart](g28755i82bdf251be2aa6a8c26b.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Class C** | **MSCI World Index (Net)** | **FTSE EPRA Nareit Developed Index (Net)** |
| **01/2016** | $10000 | $10000 | $10000 |
| **02/2016** | $10000 | $9926 | $10043 |
| **03/2016** | $10992 | $10599 | $10994 |
| **04/2016** | $10659 | $10767 | $10983 |
| **05/2016** | $10854 | $10827 | $10978 |
| **06/2016** | $11479 | $10706 | $11375 |
| **07/2016** | $11934 | $11158 | $11945 |
| **08/2016** | $11485 | $11168 | $11633 |
| **09/2016** | $11314 | $11227 | $11517 |
| **10/2016** | $10695 | $11010 | $10862 |
| **11/2016** | $10493 | $11168 | $10565 |
| **12/2016** | $10977 | $11435 | $10873 |
| **01/2017** | $10867 | $11711 | $10931 |
| **02/2017** | $11264 | $12036 | $11272 |
| **03/2017** | $10932 | $12164 | $11097 |
| **04/2017** | $10911 | $12344 | $11218 |
| **05/2017** | $10807 | $12606 | $11315 |
| **06/2017** | $11100 | $12654 | $11399 |
| **07/2017** | $11211 | $12957 | $11606 |
| **08/2017** | $11169 | $12975 | $11621 |
| **09/2017** | $11180 | $13266 | $11582 |
| **10/2017** | $11034 | $13517 | $11526 |
| **11/2017** | $11271 | $13810 | $11847 |
| **12/2017** | $11285 | $13997 | $11999 |
| **01/2018** | $10845 | $14736 | $11998 |
| **02/2018** | $10017 | $14125 | $11194 |
| **03/2018** | $10365 | $13817 | $11456 |
| **04/2018** | $10472 | $13976 | $11680 |
| **05/2018** | $10862 | $14064 | $11873 |
| **06/2018** | $11352 | $14057 | $12042 |
| **07/2018** | $11398 | $14496 | $12144 |
| **08/2018** | $11742 | $14675 | $12259 |
| **09/2018** | $11401 | $14757 | $12006 |
| **10/2018** | $11110 | $13674 | $11561 |
| **11/2018** | $11669 | $13829 | $11990 |
| **12/2018** | $10674 | $12777 | $11323 |
| **01/2019** | $11824 | $13771 | $12554 |
| **02/2019** | $11905 | $14186 | $12535 |
| **03/2019** | $12269 | $14372 | $12975 |
| **04/2019** | $12261 | $14882 | $12804 |
| **05/2019** | $12253 | $14023 | $12767 |
| **06/2019** | $12294 | $14947 | $12966 |
| **07/2019** | $12311 | $15021 | $13011 |
| **08/2019** | $12613 | $14714 | $13255 |
| **09/2019** | $12882 | $15027 | $13567 |
| **10/2019** | $13225 | $15409 | $13906 |
| **11/2019** | $13070 | $15838 | $13736 |
| **12/2019** | $13127 | $16313 | $13804 |
| **01/2020** | $13285 | $16214 | $13920 |
| **02/2020** | $12311 | $14843 | $12773 |
| **03/2020** | $9904 | $12879 | $9866 |
| **04/2020** | $10311 | $14286 | $10562 |
| **05/2020** | $10548 | $14976 | $10587 |
| **06/2020** | $10739 | $15372 | $10859 |
| **07/2020** | $11194 | $16107 | $11161 |
| **08/2020** | $11431 | $17183 | $11442 |
| **09/2020** | $11136 | $16591 | $11086 |
| **10/2020** | $10795 | $16082 | $10717 |
| **11/2020** | $11848 | $18138 | $12131 |
| **12/2020** | $12266 | $18907 | $12556 |
| **01/2021** | $11999 | $18719 | $12455 |
| **02/2021** | $12563 | $19199 | $12916 |
| **03/2021** | $12927 | $19838 | $13284 |
| **04/2021** | $13769 | $20761 | $14137 |
| **05/2021** | $14031 | $21060 | $14390 |
| **06/2021** | $14224 | $21374 | $14502 |
| **07/2021** | $14689 | $21757 | $15058 |
| **08/2021** | $14892 | $22298 | $15256 |
| **09/2021** | $14110 | $21372 | $14372 |
| **10/2021** | $15108 | $22583 | $15231 |
| **11/2021** | $14681 | $22088 | $14890 |
| **12/2021** | $15576 | $23032 | $15832 |
| **01/2022** | $14696 | $21813 | $14923 |
| **02/2022** | $14396 | $21262 | $14554 |
| **03/2022** | $14987 | $21845 | $15207 |
| **04/2022** | $14200 | $20030 | $14374 |
| **05/2022** | $13302 | $20046 | $13749 |
| **06/2022** | $12101 | $18309 | $12554 |
| **07/2022** | $13062 | $19763 | $13554 |
| **08/2022** | $12202 | $18937 | $12674 |
| **09/2022** | $10738 | $17176 | $11100 |
| **10/2022** | $10971 | $18410 | $11431 |
| **11/2022** | $11802 | $19690 | $12201 |
| **12/2022** | $11453 | $18854 | $11860 |
| **01/2023** | $12508 | $20188 | $12925 |
| **02/2023** | $11940 | $19702 | $12355 |
| **03/2023** | $11636 | $20311 | $11953 |
| **04/2023** | $11954 | $20667 | $12178 |
| **05/2023** | $11380 | $20461 | $11633 |
| **06/2023** | $11723 | $21698 | $11982 |
| **07/2023** | $12093 | $22427 | $12433 |
| **08/2023** | $11682 | $21891 | $12016 |
| **09/2023** | $10985 | $20947 | $11282 |
| **10/2023** | $10563 | $20339 | $10742 |
| **11/2023** | $11749 | $22246 | $11883 |
| **12/2023** | $12863 | $23338 | $13008 |
| **01/2024** | $12275 | $23618 | $12485 |
| **02/2024** | $12285 | $24620 | $12410 |
| **03/2024** | $12684 | $25411 | $12839 |
| **04/2024** | $11943 | $24467 | $12072 |
| **05/2024** | $12419 | $25560 | $12483 |
| **06/2024** | $12465 | $26080 | $12526 |
| **07/2024** | $13230 | $26539 | $13282 |
| **08/2024** | $13985 | $27241 | $14113 |
| **09/2024** | $14452 | $27740 | $14538 |
| **10/2024** | $13768 | $27189 | $13800 |
| **11/2024** | $14174 | $28437 | $14129 |
| **12/2024** | $13078 | $27696 | $13129 |
| **01/2025** | $13218 | $28673 | $13358 |
| **02/2025** | $13542 | $28467 | $13655 |
| **03/2025** | $13177 | $27199 | $13339 |
| **04/2025** | $13318 | $27441 | $13466 |
| **05/2025** | $13677 | $29065 | $13805 |
| **06/2025** | $13801 | $30320 | $13926 |
| **07/2025** | $13474 | $30710 | $13764 |
| **08/2025** | $14139 | $31511 | $14365 |
| **09/2025** | $14267 | $32524 | $14493 |
| **10/2025** | $14048 | $33175 | $14271 |
| **11/2025** | $14311 | $33269 | $14558 |
| **12/2025** | $14128 | $33538 | $14387 |
| **01/2026** | $14606 | $34289 | $14926 |

---

**Performance data shown represents past performance and is no guarantee of, and is not necessarily indicative of, future results. Total return and value will vary, and you may have a gain or loss when shares are sold. Current performance may be lower or higher than quoted. For the most recent month-end performance, visit im.natixis.com/en-us/products/mutual-funds/price-and-performance.**

## Average Annual Total Returns (%)

---

| | | | | |
|:---|:---|:---|:---|:---|
| AATR | **1 Year** | **5 Years** | **10 Years** | **Since Inception 7/18/05** |
| Class C at NAV | 9.69% | 3.70% | 3.86% | 7.93% |
| Class C with 1.00% CDSC<sup>Footnote Reference1</sup> | 8.69% | 3.70% | 3.86% | 7.93% |
| MSCI World Index (Net) | 19.58% | 12.87% | 13.11% | -% |
| FTSE EPRA Nareit Developed Index (Net) | 11.74% | 3.69% | 4.09% | -% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>1</sup> | &nbsp;&nbsp;Contingent deferred sales charge |

---

## Key Fund Statistics

---

| | |
|:---|:---|
| Total Net Assets | $34686318 |
| # of Portfolio Holdings (including overnight repurchase agreements) | 60 |
| Portfolio Turnover Rate | 64% |
| Total Advisory Fees Paid (after waiver/reimbursement, if applicable) | $0 |

---

## What did the Fund invest in? (% of Net Assets)

### Industry Summary
![Group By Sector Chart](g28755idf578c3b3fe152e39204.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Other investments less than 3% of net assets<sup>Footnote Reference\*</sup> | 1.7% |
| Office REITs | 5.9% |
| Diversified REITs | 7.9% |
| Health Care REITs | 10.1% |
| Residential REITs | 10.4% |
| Real Estate Management & Development | 14.3% |
| Industrial REITs | 15.5% |
| Specialized REITs | 17.0% |
| Retail REITs | 17.2% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Net of other assets less liabilities |

---

### Top Ten Holdings

---

| | |
|:---|:---|
| Welltower, Inc. | 10.1% |
| Prologis, Inc. | 6.3% |
| Equinix, Inc. | 4.9% |
| AvalonBay Communities, Inc. | 4.1% |
| Digital Realty Trust, Inc. | 3.8% |
| Simon Property Group, Inc. | 3.8% |
| Highwoods Properties, Inc. | 3.7% |
| Brixmor Property Group, Inc. | 3.3% |
| VICI Properties, Inc. | 3.2% |
| CubeSmart | 3.1% |

---

## Material Fund Changes
There were no material fund changes during the period.

### Country Weightings
![Group By Country Chart](g28755ie5f5b30cf9ff7606802c.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Other investments less than 3% of net assets<sup>Footnote Reference\*</sup> | 11.4% |
| Hong Kong | 3.5% |
| United Kingdom | 4.4% |
| Australia | 6.4% |
| Japan | 8.7% |
| United States | 65.6% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Net of other assets less liabilities |

---

There were no changes in or disagreements with Accountants during the period.

![An image of a QR code that, when scanned, navigates the user to the following URL: https://im.natixis.com/funddocuments](g28755i1fcdf11662ce31caba8c.jpg)

For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit im.natixis.com/funddocuments.

![Image](g28755id95e0c2130cb62475128.jpg)

# Class C

# NRCFX

# AEW Global Focused Real Estate Fund

#### Annual Shareholder Report

#### January 31, 2026

#### TAEW99C-0126

# Class N

# NRFNX

# AEW Global Focused Real Estate Fund
![Image](g28755i97c26f070b62fb46d6ac.jpg)

## Annual Shareholder Report - January 31, 2026
This annual shareholder report contains important information about AEW Global Focused Real Estate Fund for the period of February 1, 2025 to January 31, 2026. You can find additional information (including tax information) about the Fund at im.natixis.com/funddocuments. You can also request the information by contacting us at (800) 225-5478 or by contacting your financial intermediary directly.

## **What were the fund costs for the last year?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment<sup>Footnote Reference†</sup>** |
| Class N | $90 | 0.85% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>†</sup> | &nbsp;&nbsp;Annualized for periods less than one year (if applicable). |

---

## How did the fund perform last year and what affected its performance?
**Explanation of Fund Performance** 

The Fund is actively managed and primarily invests in global real estate securities. Performance is influenced by underlying real estate assets, company management, and capital market conditions. The Fund's investment strategy is built upon our team's highest conviction securities, resulting in a high active share and a portfolio diversified across property types and geographic regions: North America, Europe, and Asia Pacific.

**Top Contributors to Performance**

• The Fund's relative overweights to Welltower and CareTrust REIT, plus lack of exposure to Alexandria Real Estate, were the top individual contributors.

• Stock selection in the United States, Hong Kong, and Spain was positive, as were the Fund's relative overweights to France, the Netherlands, and the United Kingdom.

• On a sector basis, selection within Industrial, Triple Net Lease, and Health Care, plus an overweight to Industrial, most notably contributed.

**Top Detractors from Performance**

• Relative overweights to AvalonBay Communities and Highwoods Properties, as well as exposure to off-benchmark HMC Capital, were the leading individual detractors.

• Stock selection in Australia, Japan, and the United Kingdom, plus underweights to Switzerland, Japan, and Hong Kong, notably detracted from relative performance.

• On a sector basis, selection within Diversified, Apartment, and Manufactured Housing, plus an overweight to Apartments, detracted from relative performance.

**Investment Activity**

The investment strategy seeks to identify real estate equity securities with the best total return potential using top-down research and bottom-up security selection. AEW leverages proprietary market research, external direct real estate research, and extensive firm experience in all decisions. Over the period, we increased exposure to the Asia Pacific region and Switzerland while decreasing exposure to the United States, Sweden, and France.

## Fund Performance
The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume dividends and capital gains are reinvested. The tables do not reflect taxes shareholders might owe on any fund distributions or when they redeem their shares. You cannot invest directly in an index.

### Total Return Based on a Hypothetical $10,000 Investment
![Growth of 10K Chart](g28755i6f4712a9b7ee5bcde211.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Class N** | **MSCI World Index (Net)** | **FTSE EPRA Nareit Developed Index (Net)** |
| **01/2016** | $10000 | $10000 | $10000 |
| **02/2016** | $10013 | $9926 | $10043 |
| **03/2016** | $11017 | $10599 | $10994 |
| **04/2016** | $10690 | $10767 | $10983 |
| **05/2016** | $10898 | $10827 | $10978 |
| **06/2016** | $11535 | $10706 | $11375 |
| **07/2016** | $12001 | $11158 | $11945 |
| **08/2016** | $11563 | $11168 | $11633 |
| **09/2016** | $11401 | $11227 | $11517 |
| **10/2016** | $10786 | $11010 | $10862 |
| **11/2016** | $10590 | $11168 | $10565 |
| **12/2016** | $11094 | $11435 | $10873 |
| **01/2017** | $10991 | $11711 | $10931 |
| **02/2017** | $11405 | $12036 | $11272 |
| **03/2017** | $11081 | $12164 | $11097 |
| **04/2017** | $11066 | $12344 | $11218 |
| **05/2017** | $10968 | $12606 | $11315 |
| **06/2017** | $11275 | $12654 | $11399 |
| **07/2017** | $11396 | $12957 | $11606 |
| **08/2017** | $11366 | $12975 | $11621 |
| **09/2017** | $11388 | $13266 | $11582 |
| **10/2017** | $11243 | $13517 | $11526 |
| **11/2017** | $11502 | $13810 | $11847 |
| **12/2017** | $11530 | $13997 | $11999 |
| **01/2018** | $11087 | $14736 | $11998 |
| **02/2018** | $10251 | $14125 | $11194 |
| **03/2018** | $10615 | $13817 | $11456 |
| **04/2018** | $10733 | $13976 | $11680 |
| **05/2018** | $11146 | $14064 | $11873 |
| **06/2018** | $11663 | $14057 | $12042 |
| **07/2018** | $11722 | $14496 | $12144 |
| **08/2018** | $12078 | $14675 | $12259 |
| **09/2018** | $11742 | $14757 | $12006 |
| **10/2018** | $11452 | $13674 | $11561 |
| **11/2018** | $12040 | $13829 | $11990 |
| **12/2018** | $11020 | $12777 | $11323 |
| **01/2019** | $12220 | $13771 | $12554 |
| **02/2019** | $12311 | $14186 | $12535 |
| **03/2019** | $12694 | $14372 | $12975 |
| **04/2019** | $12703 | $14882 | $12804 |
| **05/2019** | $12713 | $14023 | $12767 |
| **06/2019** | $12761 | $14947 | $12966 |
| **07/2019** | $12779 | $15021 | $13011 |
| **08/2019** | $13111 | $14714 | $13255 |
| **09/2019** | $13412 | $15027 | $13567 |
| **10/2019** | $13782 | $15409 | $13906 |
| **11/2019** | $13625 | $15838 | $13736 |
| **12/2019** | $13698 | $16313 | $13804 |
| **01/2020** | $13869 | $16214 | $13920 |
| **02/2020** | $12866 | $14843 | $12773 |
| **03/2020** | $10359 | $12879 | $9866 |
| **04/2020** | $10797 | $14286 | $10562 |
| **05/2020** | $11059 | $14976 | $10587 |
| **06/2020** | $11260 | $15372 | $10859 |
| **07/2020** | $11743 | $16107 | $11161 |
| **08/2020** | $12007 | $17183 | $11442 |
| **09/2020** | $11713 | $16591 | $11086 |
| **10/2020** | $11360 | $16082 | $10717 |
| **11/2020** | $12474 | $18138 | $12131 |
| **12/2020** | $12934 | $18907 | $12556 |
| **01/2021** | $12666 | $18719 | $12455 |
| **02/2021** | $13269 | $19199 | $12916 |
| **03/2021** | $13673 | $19838 | $13284 |
| **04/2021** | $14570 | $20761 | $14137 |
| **05/2021** | $14854 | $21060 | $14390 |
| **06/2021** | $15075 | $21374 | $14502 |
| **07/2021** | $15577 | $21757 | $15058 |
| **08/2021** | $15816 | $22298 | $15256 |
| **09/2021** | $14998 | $21372 | $14372 |
| **10/2021** | $16072 | $22583 | $15231 |
| **11/2021** | $15626 | $22088 | $14890 |
| **12/2021** | $16603 | $23032 | $15832 |
| **01/2022** | $15675 | $21813 | $14923 |
| **02/2022** | $15366 | $21262 | $14554 |
| **03/2022** | $16015 | $21845 | $15207 |
| **04/2022** | $15184 | $20030 | $14374 |
| **05/2022** | $14234 | $20046 | $13749 |
| **06/2022** | $12965 | $18309 | $12554 |
| **07/2022** | $14006 | $19763 | $13554 |
| **08/2022** | $13098 | $18937 | $12674 |
| **09/2022** | $11534 | $17176 | $11100 |
| **10/2022** | $11789 | $18410 | $11431 |
| **11/2022** | $12702 | $19690 | $12201 |
| **12/2022** | $12333 | $18854 | $11860 |
| **01/2023** | $13482 | $20188 | $12925 |
| **02/2023** | $12883 | $19702 | $12355 |
| **03/2023** | $12567 | $20311 | $11953 |
| **04/2023** | $12914 | $20667 | $12178 |
| **05/2023** | $12319 | $20461 | $11633 |
| **06/2023** | $12687 | $21698 | $11982 |
| **07/2023** | $13098 | $22427 | $12433 |
| **08/2023** | $12674 | $21891 | $12016 |
| **09/2023** | $11916 | $20947 | $11282 |
| **10/2023** | $11476 | $20339 | $10742 |
| **11/2023** | $12783 | $22246 | $11883 |
| **12/2023** | $13988 | $23338 | $13008 |
| **01/2024** | $13371 | $23618 | $12485 |
| **02/2024** | $13371 | $24620 | $12410 |
| **03/2024** | $13815 | $25411 | $12839 |
| **04/2024** | $13017 | $24467 | $12072 |
| **05/2024** | $13532 | $25560 | $12483 |
| **06/2024** | $13586 | $26080 | $12526 |
| **07/2024** | $14427 | $26539 | $13282 |
| **08/2024** | $15255 | $27241 | $14113 |
| **09/2024** | $15772 | $27740 | $14538 |
| **10/2024** | $15030 | $27189 | $13800 |
| **11/2024** | $15473 | $28437 | $14129 |
| **12/2024** | $14280 | $27696 | $13129 |
| **01/2025** | $14438 | $28673 | $13358 |
| **02/2025** | $14794 | $28467 | $13655 |
| **03/2025** | $14400 | $27199 | $13339 |
| **04/2025** | $14560 | $27441 | $13466 |
| **05/2025** | $14958 | $29065 | $13805 |
| **06/2025** | $15083 | $30320 | $13926 |
| **07/2025** | $14736 | $30710 | $13764 |
| **08/2025** | $15471 | $31511 | $14365 |
| **09/2025** | $15614 | $32524 | $14493 |
| **10/2025** | $15372 | $33175 | $14271 |
| **11/2025** | $15668 | $33269 | $14558 |
| **12/2025** | $15471 | $33538 | $14387 |
| **01/2026** | $16004 | $34289 | $14926 |

---

**Performance data shown represents past performance and is no guarantee of, and is not necessarily indicative of, future results. Total return and value will vary, and you may have a gain or loss when shares are sold. Current performance may be lower or higher than quoted. For the most recent month-end performance, visit im.natixis.com/en-us/products/mutual-funds/price-and-performance.**

## Average Annual Total Returns (%)

---

| | | | | |
|:---|:---|:---|:---|:---|
| AATR | **1 Year** | **5 Years** | **10 Years** | **Since Inception 5/1/13** |
| Class N | 10.85% | 4.79% | 4.81% | 5.06% |
| MSCI World Index (Net) | 19.58% | 12.87% | 13.11% | -% |
| FTSE EPRA Nareit Developed Index (Net) | 11.74% | 3.69% | 4.09% | -% |

---

## Key Fund Statistics

---

| | |
|:---|:---|
| Total Net Assets | $34686318 |
| # of Portfolio Holdings (including overnight repurchase agreements) | 60 |
| Portfolio Turnover Rate | 64% |
| Total Advisory Fees Paid (after waiver/reimbursement, if applicable) | $0 |

---

## What did the Fund invest in? (% of Net Assets)

### Industry Summary
![Group By Sector Chart](g28755idf578c3b3fe152e39204.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Other investments less than 3% of net assets<sup>Footnote Reference\*</sup> | 1.7% |
| Office REITs | 5.9% |
| Diversified REITs | 7.9% |
| Health Care REITs | 10.1% |
| Residential REITs | 10.4% |
| Real Estate Management & Development | 14.3% |
| Industrial REITs | 15.5% |
| Specialized REITs | 17.0% |
| Retail REITs | 17.2% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Net of other assets less liabilities |

---

### Top Ten Holdings

---

| | |
|:---|:---|
| Welltower, Inc. | 10.1% |
| Prologis, Inc. | 6.3% |
| Equinix, Inc. | 4.9% |
| AvalonBay Communities, Inc. | 4.1% |
| Digital Realty Trust, Inc. | 3.8% |
| Simon Property Group, Inc. | 3.8% |
| Highwoods Properties, Inc. | 3.7% |
| Brixmor Property Group, Inc. | 3.3% |
| VICI Properties, Inc. | 3.2% |
| CubeSmart | 3.1% |

---

## Material Fund Changes
There were no material fund changes during the period.

### Country Weightings
![Group By Country Chart](g28755ie5f5b30cf9ff7606802c.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Other investments less than 3% of net assets<sup>Footnote Reference\*</sup> | 11.4% |
| Hong Kong | 3.5% |
| United Kingdom | 4.4% |
| Australia | 6.4% |
| Japan | 8.7% |
| United States | 65.6% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Net of other assets less liabilities |

---

There were no changes in or disagreements with Accountants during the period.

![An image of a QR code that, when scanned, navigates the user to the following URL: https://im.natixis.com/funddocuments](g28755i1fcdf11662ce31caba8c.jpg)

For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit im.natixis.com/funddocuments.

![Image](g28755id95e0c2130cb62475128.jpg)

# Class N

# NRFNX

# AEW Global Focused Real Estate Fund

#### Annual Shareholder Report

#### January 31, 2026

#### TAEW99N-0126

# Class Y

# NRFYX

# AEW Global Focused Real Estate Fund
![Image](g28755i97c26f070b62fb46d6ac.jpg)

## Annual Shareholder Report - January 31, 2026
This annual shareholder report contains important information about AEW Global Focused Real Estate Fund for the period of February 1, 2025 to January 31, 2026. You can find additional information (including tax information) about the Fund at im.natixis.com/funddocuments. You can also request the information by contacting us at (800) 225-5478 or by contacting your financial intermediary directly.

## **What were the fund costs for the last year?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment<sup>Footnote Reference†</sup>** |
| Class Y | $95 | 0.90% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>†</sup> | &nbsp;&nbsp;Annualized for periods less than one year (if applicable). |

---

## How did the fund perform last year and what affected its performance?
**Explanation of Fund Performance** 

The Fund is actively managed and primarily invests in global real estate securities. Performance is influenced by underlying real estate assets, company management, and capital market conditions. The Fund's investment strategy is built upon our team's highest conviction securities, resulting in a high active share and a portfolio diversified across property types and geographic regions: North America, Europe, and Asia Pacific.

**Top Contributors to Performance**

• The Fund's relative overweights to Welltower and CareTrust REIT, plus lack of exposure to Alexandria Real Estate, were the top individual contributors.

• Stock selection in the United States, Hong Kong, and Spain was positive, as were the Fund's relative overweights to France, the Netherlands, and the United Kingdom.

• On a sector basis, selection within Industrial, Triple Net Lease, and Health Care, plus an overweight to Industrial, most notably contributed.

**Top Detractors from Performance**

• Relative overweights to AvalonBay Communities and Highwoods Properties, as well as exposure to off-benchmark HMC Capital, were the leading individual detractors.

• Stock selection in Australia, Japan, and the United Kingdom, plus underweights to Switzerland, Japan, and Hong Kong, notably detracted from relative performance.

• On a sector basis, selection within Diversified, Apartment, and Manufactured Housing, plus an overweight to Apartments, detracted from relative performance.

**Investment Activity**

The investment strategy seeks to identify real estate equity securities with the best total return potential using top-down research and bottom-up security selection. AEW leverages proprietary market research, external direct real estate research, and extensive firm experience in all decisions. Over the period, we increased exposure to the Asia Pacific region and Switzerland while decreasing exposure to the United States, Sweden, and France.

## Fund Performance
The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume dividends and capital gains are reinvested. The tables do not reflect taxes shareholders might owe on any fund distributions or when they redeem their shares. You cannot invest directly in an index.

### Total Return Based on a Hypothetical $10,000 Investment
![Growth of 10K Chart](g28755i210d4d2ec699beb29c57.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Class Y** | **MSCI World Index (Net)** | **FTSE EPRA Nareit Developed Index (Net)** |
| **01/2016** | $10000 | $10000 | $10000 |
| **02/2016** | $10007 | $9926 | $10043 |
| **03/2016** | $11014 | $10599 | $10994 |
| **04/2016** | $10687 | $10767 | $10983 |
| **05/2016** | $10895 | $10827 | $10978 |
| **06/2016** | $11523 | $10706 | $11375 |
| **07/2016** | $11990 | $11158 | $11945 |
| **08/2016** | $11551 | $11168 | $11633 |
| **09/2016** | $11391 | $11227 | $11517 |
| **10/2016** | $10776 | $11010 | $10862 |
| **11/2016** | $10580 | $11168 | $10565 |
| **12/2016** | $11081 | $11435 | $10873 |
| **01/2017** | $10978 | $11711 | $10931 |
| **02/2017** | $11385 | $12036 | $11272 |
| **03/2017** | $11065 | $12164 | $11097 |
| **04/2017** | $11050 | $12344 | $11218 |
| **05/2017** | $10952 | $12606 | $11315 |
| **06/2017** | $11257 | $12654 | $11399 |
| **07/2017** | $11378 | $12957 | $11606 |
| **08/2017** | $11348 | $12975 | $11621 |
| **09/2017** | $11368 | $13266 | $11582 |
| **10/2017** | $11224 | $13517 | $11526 |
| **11/2017** | $11475 | $13810 | $11847 |
| **12/2017** | $11509 | $13997 | $11999 |
| **01/2018** | $11058 | $14736 | $11998 |
| **02/2018** | $10229 | $14125 | $11194 |
| **03/2018** | $10592 | $13817 | $11456 |
| **04/2018** | $10710 | $13976 | $11680 |
| **05/2018** | $11123 | $14064 | $11873 |
| **06/2018** | $11630 | $14057 | $12042 |
| **07/2018** | $11689 | $14496 | $12144 |
| **08/2018** | $12054 | $14675 | $12259 |
| **09/2018** | $11708 | $14757 | $12006 |
| **10/2018** | $11427 | $13674 | $11561 |
| **11/2018** | $12006 | $13829 | $11990 |
| **12/2018** | $10993 | $12777 | $11323 |
| **01/2019** | $12184 | $13771 | $12554 |
| **02/2019** | $12274 | $14186 | $12535 |
| **03/2019** | $12666 | $14372 | $12975 |
| **04/2019** | $12666 | $14882 | $12804 |
| **05/2019** | $12675 | $14023 | $12767 |
| **06/2019** | $12722 | $14947 | $12966 |
| **07/2019** | $12749 | $15021 | $13011 |
| **08/2019** | $13072 | $14714 | $13255 |
| **09/2019** | $13371 | $15027 | $13567 |
| **10/2019** | $13741 | $15409 | $13906 |
| **11/2019** | $13584 | $15838 | $13736 |
| **12/2019** | $13656 | $16313 | $13804 |
| **01/2020** | $13826 | $16214 | $13920 |
| **02/2020** | $12834 | $14843 | $12773 |
| **03/2020** | $10336 | $12879 | $9866 |
| **04/2020** | $10763 | $14286 | $10562 |
| **05/2020** | $11025 | $14976 | $10587 |
| **06/2020** | $11236 | $15372 | $10859 |
| **07/2020** | $11719 | $16107 | $11161 |
| **08/2020** | $11982 | $17183 | $11442 |
| **09/2020** | $11687 | $16591 | $11086 |
| **10/2020** | $11324 | $16082 | $10717 |
| **11/2020** | $12448 | $18138 | $12131 |
| **12/2020** | $12895 | $18907 | $12556 |
| **01/2021** | $12627 | $18719 | $12455 |
| **02/2021** | $13229 | $19199 | $12916 |
| **03/2021** | $13620 | $19838 | $13284 |
| **04/2021** | $14528 | $20761 | $14137 |
| **05/2021** | $14812 | $21060 | $14390 |
| **06/2021** | $15032 | $21374 | $14502 |
| **07/2021** | $15533 | $21757 | $15058 |
| **08/2021** | $15761 | $22298 | $15256 |
| **09/2021** | $14941 | $21372 | $14372 |
| **10/2021** | $16015 | $22583 | $15231 |
| **11/2021** | $15581 | $22088 | $14890 |
| **12/2021** | $16542 | $23032 | $15832 |
| **01/2022** | $15615 | $21813 | $14923 |
| **02/2022** | $15318 | $21262 | $14554 |
| **03/2022** | $15965 | $21845 | $15207 |
| **04/2022** | $15123 | $20030 | $14374 |
| **05/2022** | $14186 | $20046 | $13749 |
| **06/2022** | $12916 | $18309 | $12554 |
| **07/2022** | $13956 | $19763 | $13554 |
| **08/2022** | $13049 | $18937 | $12674 |
| **09/2022** | $11497 | $17176 | $11100 |
| **10/2022** | $11752 | $18410 | $11431 |
| **11/2022** | $12651 | $19690 | $12201 |
| **12/2022** | $12281 | $18854 | $11860 |
| **01/2023** | $13429 | $20188 | $12925 |
| **02/2023** | $12831 | $19702 | $12355 |
| **03/2023** | $12513 | $20311 | $11953 |
| **04/2023** | $12860 | $20667 | $12178 |
| **05/2023** | $12265 | $20461 | $11633 |
| **06/2023** | $12631 | $21698 | $11982 |
| **07/2023** | $13042 | $22427 | $12433 |
| **08/2023** | $12619 | $21891 | $12016 |
| **09/2023** | $11873 | $20947 | $11282 |
| **10/2023** | $11433 | $20339 | $10742 |
| **11/2023** | $12726 | $22246 | $11883 |
| **12/2023** | $13927 | $23338 | $13008 |
| **01/2024** | $13311 | $23618 | $12485 |
| **02/2024** | $13323 | $24620 | $12410 |
| **03/2024** | $13764 | $25411 | $12839 |
| **04/2024** | $12955 | $24467 | $12072 |
| **05/2024** | $13469 | $25560 | $12483 |
| **06/2024** | $13521 | $26080 | $12526 |
| **07/2024** | $14361 | $26539 | $13282 |
| **08/2024** | $15187 | $27241 | $14113 |
| **09/2024** | $15688 | $27740 | $14538 |
| **10/2024** | $14960 | $27189 | $13800 |
| **11/2024** | $15402 | $28437 | $14129 |
| **12/2024** | $14210 | $27696 | $13129 |
| **01/2025** | $14368 | $28673 | $13358 |
| **02/2025** | $14723 | $28467 | $13655 |
| **03/2025** | $14328 | $27199 | $13339 |
| **04/2025** | $14487 | $27441 | $13466 |
| **05/2025** | $14885 | $29065 | $13805 |
| **06/2025** | $15008 | $30320 | $13926 |
| **07/2025** | $14661 | $30710 | $13764 |
| **08/2025** | $15395 | $31511 | $14365 |
| **09/2025** | $15523 | $32524 | $14493 |
| **10/2025** | $15295 | $33175 | $14271 |
| **11/2025** | $15590 | $33269 | $14558 |
| **12/2025** | $15391 | $33538 | $14387 |
| **01/2026** | $15909 | $34289 | $14926 |

---

**Performance data shown represents past performance and is no guarantee of, and is not necessarily indicative of, future results. Total return and value will vary, and you may have a gain or loss when shares are sold. Current performance may be lower or higher than quoted. For the most recent month-end performance, visit im.natixis.com/en-us/products/mutual-funds/price-and-performance.**

## Average Annual Total Returns (%)

---

| | | | | |
|:---|:---|:---|:---|:---|
| AATR | **1 Year** | **5 Years** | **10 Years** | **Since Inception 7/18/05** |
| Class Y | 10.73% | 4.73% | 4.75% | 8.71% |
| MSCI World Index (Net) | 19.58% | 12.87% | 13.11% | -% |
| FTSE EPRA Nareit Developed Index (Net) | 11.74% | 3.69% | 4.09% | -% |

---

## Key Fund Statistics

---

| | |
|:---|:---|
| Total Net Assets | $34686318 |
| # of Portfolio Holdings (including overnight repurchase agreements) | 60 |
| Portfolio Turnover Rate | 64% |
| Total Advisory Fees Paid (after waiver/reimbursement, if applicable) | $0 |

---

## What did the Fund invest in? (% of Net Assets)

### Industry Summary
![Group By Sector Chart](g28755idf578c3b3fe152e39204.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Other investments less than 3% of net assets<sup>Footnote Reference\*</sup> | 1.7% |
| Office REITs | 5.9% |
| Diversified REITs | 7.9% |
| Health Care REITs | 10.1% |
| Residential REITs | 10.4% |
| Real Estate Management & Development | 14.3% |
| Industrial REITs | 15.5% |
| Specialized REITs | 17.0% |
| Retail REITs | 17.2% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Net of other assets less liabilities |

---

### Top Ten Holdings

---

| | |
|:---|:---|
| Welltower, Inc. | 10.1% |
| Prologis, Inc. | 6.3% |
| Equinix, Inc. | 4.9% |
| AvalonBay Communities, Inc. | 4.1% |
| Digital Realty Trust, Inc. | 3.8% |
| Simon Property Group, Inc. | 3.8% |
| Highwoods Properties, Inc. | 3.7% |
| Brixmor Property Group, Inc. | 3.3% |
| VICI Properties, Inc. | 3.2% |
| CubeSmart | 3.1% |

---

## Material Fund Changes
There were no material fund changes during the period.

### Country Weightings
![Group By Country Chart](g28755ie5f5b30cf9ff7606802c.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Other investments less than 3% of net assets<sup>Footnote Reference\*</sup> | 11.4% |
| Hong Kong | 3.5% |
| United Kingdom | 4.4% |
| Australia | 6.4% |
| Japan | 8.7% |
| United States | 65.6% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Net of other assets less liabilities |

---

There were no changes in or disagreements with Accountants during the period.

![An image of a QR code that, when scanned, navigates the user to the following URL: https://im.natixis.com/funddocuments](g28755i1fcdf11662ce31caba8c.jpg)

For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit im.natixis.com/funddocuments.

![Image](g28755id95e0c2130cb62475128.jpg)

# Class Y

# NRFYX

# AEW Global Focused Real Estate Fund

#### Annual Shareholder Report

#### January 31, 2026

#### TAEW99Y-0126

------

(b) Not applicable.

#### Item 2. Code of Ethics.
The Registrant has adopted a code of ethics that applies to the Registrant's principal executive officer, principal financial and accounting officer and persons performing similar functions. There have been no amendments or waivers of the Registrant's code of ethics during the period.

#### Item 3. Audit Committee Financial Expert.
The Board of Trustees of the Registrant has established an audit committee. Mr. Richard A. Goglia, Mr. James P. Palermo, Mr. Peter J. Smail and Ms. Cynthia L. Walker are members of the audit committee and have been designated as "audit committee financial experts" by the Board of Trustees. Each of these individuals is also an Independent Trustee of the Registrant.

#### Item 4. Principal Accountant Fees and Services.
*Fees billed by the Principal Accountant for services rendered to the Registrant.* 

The table below sets forth fees billed by the principal accountant, PricewaterhouseCoopers LLP, for the past two fiscal years for professional services rendered in connection with a) the audit of the Registrant's annual financial statements and services provided in connection with regulatory filings; b) audit-related services (including services that are reasonably related to the performance of the audit of the Registrant's financial statements but not reported under "Audit Fees"); c) tax compliance, tax advice and tax planning and d) all other fees billed for professional services rendered by the principal accountant to the Registrant, other than the services reported as a part of (a) through (c) of this Item.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Audit fees** | **Audit fees** | **Audit-related fees<sup>1</sup>** | **Audit-related fees<sup>1</sup>** | **Tax fees<sup>2</sup>** | **Tax fees<sup>2</sup>** | **All other fees** | **All other fees** |
|  | 2/1/24-<br> 1/31/25 | 2/1/25-<br> 1/31/26 | 2/1/24-<br> 1-31-25 | 2/1/25-<br> 1/31/26 | 2/1/24-<br> 1/31/25 | 2/1/25-<br> 1/31/26 | 2/1/23-<br> 1/31/24 | 2/1/24-<br> 1/31/25 |
| &nbsp;&nbsp;&nbsp; Natixis Funds Trust IV | $374359 | $49621 | $45 | $42 | $88587 | $95444 | $-- | $-- |

---

1. <u>Audit-related fees consist of</u>:

<u>2025 & 2026</u> – performance of agreed-upon procedures related to the Registrant's deferred compensation plan.

2. <u>Tax fees consist of</u>:

<u>2025 & 2026</u> – review of the Registrant's tax returns.

Aggregate fees billed to the Registrant for non-audit services during 2025 and 2026 were

$88,632 and $95,486, respectively.

(e)(1) Audit Committee Pre-Approval Policies.

Annually, the Registrant's Audit Committee reviews the audit, audit-related, tax and other non-audit services together with the projected fees, for services proposed to be rendered to the Registrant and/or other entities for which pre-approval is required during the upcoming year. Any subsequent revisions to already pre-approved services or fees (including fee increases) and requests for pre-approval of new services would be presented for consideration quarterly as needed.

If, in the opinion of management, a proposed engagement by the Registrant's independent accountants needs to commence before the next regularly scheduled Audit Committee meeting, any member of the Audit Committee who is an Independent Trustee of the Registrant is authorized to pre-approve the engagement, but only for engagements to provide audit, audit related and tax services. This approval is

------

subject to review by the full Audit Committee at its next quarterly meeting. All other engagements require the approval of all the members of the Audit Committee.

(e)(2) None of the services described in each of Items 4 (b) through (d) were approved pursuant to de minimis exception in paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X.

(f) Not applicable.

*(g) Fees billed by the Principal Accountant for services rendered to the Adviser and Control Affiliates*.

The following table sets forth the fees billed by the Registrant's principal accountant for non-audit services rendered to AEW Capital Management, L.P ("AEW"), and entities controlling, controlled by or under common control with AEW ("Control Affiliates") that provide ongoing services to the Registrant, for engagements that related directly to the operations and financial reporting of the Registrant for the last two fiscal years.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Audit-related fees** | **Audit-related fees** | **Tax fees** | **Tax fees** | **All other fees** | **All other fees** |
|  | 2/1/24-<br> 1/31/25 | 2/1/25-<br> 1/31/26 | 2/1/24-<br> 1/31/25 | 2/1/25-<br> 1/31/26 | 2/1/24-<br> 1/31/25 | 2/1/25-<br> 1/31/26 |
| &nbsp;&nbsp;&nbsp; Control Affiliates | $-- | $-- | $10216 | $1865 | $-- | $245000 |

---

The following table sets forth the aggregate fees billed by the Registrant's principal accountant for non-audit services rendered to AEW, and Control Affiliates that provide ongoing services to the Registrant, for the last two fiscal years, including the fees disclosed in the table above.

---

| | | |
|:---|:---|:---|
|  | **Aggregate Non-Audit Fees** | **Aggregate Non-Audit Fees** |
|  | 2/1/24-1/31/25 | 2/1/25-1/31/26 |
| &nbsp;&nbsp;&nbsp; Control Affiliates | $236491 | $714457 |

---

(h) The audit committee has considered and determined that the provisions of non-audit services that were rendered to the Registrant's investment adviser, and any entity controlling, controlled by, or under common control with the investment adviser that provides ongoing services to the Registrant that were not pre-approved pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X is compatible with maintaining the principal accountant's independence.

(i) Not applicable.

(j) Not applicable.

#### Item 5.

#### Audit Committee of Listed Registrants.
Not applicable.

#### Item 6. Schedule of Investments.
The Schedule of Investments are incorporated by reference as part of the Financial Statements and Other Important Information for Open-End Management Investment Companies filed as Item 7 herewith.

#### Item 7. Financial Statements and Financial Highlights for Open-End Management Investment Companies.
(a) The Registrant's Financial Statements and Other Important Information are attached herewith.

(b) The Registrant's Financial Highlights are attached herewith.

------

![](g28755img306156f41.gif)

![](g28755img7cbdbd162.gif)

Annual Financial Statements and Other Important Information

January 31, 2026

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

AEW Global Focused Real Estate Fund<br>

**Table of Contents** 

---

| | |
|:---|:---|
| [Portfolio of Investments (Form](#xx_478b4f6a-01c6-493f-94bc-17774ec51f21_SOI1-Continued-300_1)<br> [N-CSR Item 6)](#xx_478b4f6a-01c6-493f-94bc-17774ec51f21_SOI1-Continued-300_1)<br>| 1 |
| [Financial Statements (Form N-CSR](#xx_478b4f6a-01c6-493f-94bc-17774ec51f21_FS-Continued-300_1)<br> [Item 7)](#xx_478b4f6a-01c6-493f-94bc-17774ec51f21_FS-Continued-300_1)<br>| 3 |
| [Notes to Financial Statements](#xx_478b4f6a-01c6-493f-94bc-17774ec51f21_NTF-Continued-300_1)<br> [(Form N-CSR Item 7)](#xx_478b4f6a-01c6-493f-94bc-17774ec51f21_NTF-Continued-300_1)<br>| 10 |
| [Trustees Fees and Expenses (Form](#xx_478b4f6a-01c6-493f-94bc-17774ec51f21_NTF-Continued-300_7)<br> [N-CSR Item 10)](#xx_478b4f6a-01c6-493f-94bc-17774ec51f21_NTF-Continued-300_7)<br>| 16 |

---

------

**Portfolio of Investments – as of January 31, 2026**

AEW Global Focused Real Estate Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value (†)** |
| **Common Stocks — 100.0% of Net Assets** | **Common Stocks — 100.0% of Net Assets** | **Common Stocks — 100.0% of Net Assets** |
|  | **Australia — 6.4%** | **Australia — 6.4%** |
| 35273 | Goodman Group | &nbsp;&nbsp; $749328 |
| 138148 | GPT Group | &nbsp;&nbsp; 507557 |
| 313678 | Mirvac Group | &nbsp;&nbsp; 435626 |
| 303920 | Vicinity Ltd. | &nbsp;&nbsp; 518502 |
|  |  | &nbsp;&nbsp; 2211013 |
|  | **Belgium — 0.3%** | **Belgium — 0.3%** |
| 912 | VGP NV | &nbsp;&nbsp; 111843 |
|  | **Canada — 2.0%** | **Canada — 2.0%** |
| 18630 | Chartwell Retirement Residences, UNIT | &nbsp;&nbsp; 276649 |
| 45560 | Dream Industrial Real Estate Investment Trust | &nbsp;&nbsp; 430288 |
|  |  | &nbsp;&nbsp; 706937 |
|  | **France — 2.2%** | **France — 2.2%** |
| 1492 | Gecina SA | &nbsp;&nbsp; 137042 |
| 1896 | Klepierre SA | &nbsp;&nbsp; 73040 |
| 7073 | Mercialys SA | &nbsp;&nbsp; 88992 |
| 4331 | Unibail-Rodamco-Westfield(a) | &nbsp;&nbsp; 478857 |
|  |  | &nbsp;&nbsp; 777931 |
|  | **Germany — 2.3%** | **Germany — 2.3%** |
| 4631 | LEG Immobilien SE | &nbsp;&nbsp; 334856 |
| 9963 | TAG Immobilien AG | &nbsp;&nbsp; 169026 |
| 10606 | Vonovia SE | &nbsp;&nbsp; 310536 |
|  |  | &nbsp;&nbsp; 814418 |
|  | **Hong Kong — 3.5%** | **Hong Kong — 3.5%** |
| 30732 | Hongkong Land Holdings Ltd. | &nbsp;&nbsp; 260757 |
| 44976 | Link REIT | &nbsp;&nbsp; 206789 |
| 45450 | Sun Hung Kai Properties Ltd. | &nbsp;&nbsp; 729876 |
|  |  | &nbsp;&nbsp; 1197422 |
|  | **Japan — 8.7%** | **Japan — 8.7%** |
| 210 | Advance Residence Investment Corp. | &nbsp;&nbsp; 227911 |
| 153 | GLP J-Reit | &nbsp;&nbsp; 140583 |
| 440 | Japan Metropolitan Fund Invest | &nbsp;&nbsp; 346316 |
| 380 | Japan Real Estate Investment Corp. | &nbsp;&nbsp; 306582 |
| 27220 | Mitsubishi Estate Co. Ltd. | &nbsp;&nbsp; 693727 |
| 39187 | Mitsui Fudosan Co. Ltd. | &nbsp;&nbsp; 449353 |
| 374 | Nippon Building Fund, Inc. | &nbsp;&nbsp; 346917 |
| 18420 | Sumitomo Realty & Development Co. Ltd. | &nbsp;&nbsp; 512941 |
|  |  | &nbsp;&nbsp; 3024330 |
|  | **Netherlands — 0.7%** | **Netherlands — 0.7%** |
| 8870 | CTP NV | &nbsp;&nbsp; 193372 |
| 1489 | Eurocommercial Properties NV | &nbsp;&nbsp; 43924 |
|  |  | &nbsp;&nbsp; 237296 |
|  | **Singapore — 2.3%** | **Singapore — 2.3%** |
| 196820 | Keppel DC REIT | &nbsp;&nbsp; 352682 |
| 198700 | Mapletree Pan Asia Commercial Trust | &nbsp;&nbsp; 227880 |
| 25100 | UOL Group Ltd. | &nbsp;&nbsp; 214369 |
|  |  | &nbsp;&nbsp; 794931 |
|  | **Spain — 0.9%** | **Spain — 0.9%** |
| 19779 | Merlin Properties Socimi SA | &nbsp;&nbsp; 294375 |
|  | **Sweden — 1.7%** | **Sweden — 1.7%** |
| 54257 | Fastighets AB Balder, Class B(a) | &nbsp;&nbsp; 409239 |
| 7703 | Pandox AB | &nbsp;&nbsp; 166037 |
|  |  | &nbsp;&nbsp; 575276 |
|  | **Switzerland — 0.9%** | **Switzerland — 0.9%** |
| 1827 | Swiss Prime Site AG | &nbsp;&nbsp; 311030 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value (†)** |
|  | **United Kingdom — 4.4%** | **United Kingdom — 4.4%** |
| 47975 | British Land Co. PLC | &nbsp;&nbsp; $273646 |
| 104909 | LondonMetric Property PLC | &nbsp;&nbsp; 287985 |
| 9671 | Safestore Holdings PLC | &nbsp;&nbsp; 109440 |
| 19146 | Segro PLC | &nbsp;&nbsp; 199474 |
| 69184 | Sirius Real Estate Ltd. | &nbsp;&nbsp; 93011 |
| 174455 | Tritax Big Box REIT PLC | &nbsp;&nbsp; 396000 |
| 20482 | UNITE Group PLC | &nbsp;&nbsp; 159296 |
|  |  | &nbsp;&nbsp; 1518852 |
|  | **United States — 63.7%** | **United States — 63.7%** |
| 26940 | American Homes 4 Rent, Class A | &nbsp;&nbsp; 843761 |
| 8060 | AvalonBay Communities, Inc. | &nbsp;&nbsp; 1432020 |
| 42230 | Brixmor Property Group, Inc. | &nbsp;&nbsp; 1131342 |
| 53930 | Broadstone Net Lease, Inc. | &nbsp;&nbsp; 998244 |
| 28440 | CubeSmart | &nbsp;&nbsp; 1067353 |
| 28400 | Curbline Properties Corp. | &nbsp;&nbsp; 688700 |
| 8000 | Digital Realty Trust, Inc. | &nbsp;&nbsp; 1327600 |
| 2065 | Equinix, Inc. | &nbsp;&nbsp; 1695220 |
| 3730 | Essex Property Trust, Inc. | &nbsp;&nbsp; 939475 |
| 49250 | Highwoods Properties, Inc. | &nbsp;&nbsp; 1273113 |
| 19380 | LXP Industrial Trust | &nbsp;&nbsp; 960279 |
| 16870 | Prologis, Inc. | &nbsp;&nbsp; 2202547 |
| 810 | Public Storage | &nbsp;&nbsp; 223714 |
| 17298 | Realty Income Corp. | &nbsp;&nbsp; 1057946 |
| 3418 | Ryman Hospitality Properties, Inc. | &nbsp;&nbsp; 323685 |
| 6930 | Simon Property Group, Inc. | &nbsp;&nbsp; 1325778 |
| 39340 | VICI Properties, Inc. | &nbsp;&nbsp; 1104667 |
| 18550 | Welltower, Inc. | &nbsp;&nbsp; 3494078 |
|  |  | &nbsp;&nbsp; 22089522 |
|  | &nbsp;&nbsp; Total Common Stocks <br>(Identified Cost $31,712,545)<br>| &nbsp;&nbsp; 34665176 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Principal** <br>**Amount**<br>|  |  |
| **Short-Term Investments — 1.9%** | **Short-Term Investments — 1.9%** | **Short-Term Investments — 1.9%** |
| $665189 | &nbsp;&nbsp; Tri-Party Repurchase Agreement with Fixed Income <br> Clearing Corporation, dated 1/30/2026 at 2.150% to be <br> repurchased at $665,308 on 2/02/2026 collateralized by <br> $674,600 U.S. Treasury Note, 3.750% due 6/30/2027 <br> valued at $678,536 including accrued interest <br> (Note 2 of Notes to Financial Statements) <br>(Identified Cost $665,189)<br>| &nbsp;&nbsp; 665189 |
|  | &nbsp;&nbsp; Total Investments — 101.9% <br>(Identified Cost $32,377,734)<br>| &nbsp;&nbsp; 35330365 |
|  | Other assets less liabilities — (1.9)% | &nbsp;&nbsp; (644047)<br>|
|  | Net Assets — 100.0% | &nbsp;&nbsp; $34686318 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

(†) See Note 2 of Notes to Financial Statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Non-income producing security.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

J-REIT Japan Real Estate Investment Trust <br> REIT Real Estate Investment Trust

See accompanying notes to financial statements.

1 \|

------

**Portfolio of Investments – as of January 31, 2026**

AEW Global Focused Real Estate Fund (continued)

Currency Exposure Summary at January 31, 2026

---

| | |
|:---|:---|
| United States Dollar | 66.4<br> %<br>|
| Japanese Yen | 8.7 |
| Euro | 6.4 |
| Australian Dollar | 6.4 |
| British Pound | 4.4 |
| Hong Kong Dollar | 2.7 |
| Singapore Dollar | 2.3 |
| Canadian Dollar | 2.0 |
| Other, less than 2% each | 2.6 |
| Total Investments | 101.9 |
| Other assets less liabilities | &nbsp;&nbsp; (1.9)<br>|
| Net Assets | 100.0<br> %<br>|

---

See accompanying notes to financial statements.

\| 2

------

Statement of Assets and Liabilities

January 31, 2026

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **ASSETS** |  |
| Investments at cost | &nbsp;&nbsp;&nbsp; $32377734 |
| Net unrealized appreciation | &nbsp;&nbsp;&nbsp; 2952631 |
| Investments at value | &nbsp;&nbsp;&nbsp; 35330365 |
| Foreign currency at value (identified cost $16) | &nbsp;&nbsp;&nbsp; 16 |
| Receivable for Fund shares sold | &nbsp;&nbsp;&nbsp; 43315 |
| Receivable from distributor (Note 5d) | &nbsp;&nbsp;&nbsp; 129 |
| Receivable from investment adviser (Note 5)  | &nbsp;&nbsp;&nbsp; 5712 |
| Dividends and interest receivable | &nbsp;&nbsp;&nbsp; 28329 |
| Tax reclaims receivable | &nbsp;&nbsp;&nbsp; 5678 |
| Prepaid expenses  | &nbsp;&nbsp;&nbsp; 784 |
| **TOTAL ASSETS** | &nbsp;&nbsp;&nbsp; 35414328 |
| **LIABILITIES** |  |
| Payable for Fund shares redeemed | &nbsp;&nbsp;&nbsp; 29975 |
| Deferred Trustees' fees (Note 5)  | &nbsp;&nbsp;&nbsp; 608740 |
| Administrative fees payable (Note 5)  | &nbsp;&nbsp;&nbsp; 1212 |
| Audit and tax services fees payable | &nbsp;&nbsp;&nbsp; 55165 |
| Other accounts payable and accrued expenses | &nbsp;&nbsp;&nbsp; 32918 |
| **TOTAL LIABILITIES** | &nbsp;&nbsp;&nbsp; 728010 |
| **COMMITMENTS AND CONTINGENCIES(a)** | &nbsp;&nbsp;&nbsp; — |
| **NET ASSETS**  | &nbsp;&nbsp;&nbsp; $34686318 |
| **NET ASSETS CONSIST OF:** |  |
| Paid-in capital | &nbsp;&nbsp;&nbsp; $46650062 |
| Accumulated loss | &nbsp;&nbsp;&nbsp; (11963744)<br>|
| **NET ASSETS** | &nbsp;&nbsp;&nbsp; $34686318 |
| **COMPUTATION OF NET ASSET VALUE AND OFFERING PRICE:** |  |
| **Class A shares:** |  |
| Net assets | &nbsp;&nbsp;&nbsp; $12420235 |
| Shares of beneficial interest | &nbsp;&nbsp;&nbsp; 944465 |
| Net asset value and redemption price per share | &nbsp;&nbsp;&nbsp; $13.15 |
| Offering price per share (100/94.25 of net asset value) (Note 1) | &nbsp;&nbsp;&nbsp; $13.95 |
| **Class C shares: (redemption price per share is equal to net asset value less any applicable contingent deferred sales charge) (Note 1)** |  |
| Net assets | &nbsp;&nbsp;&nbsp; $112124 |
| Shares of beneficial interest | &nbsp;&nbsp;&nbsp; 8452 |
| Net asset value and offering price per share | &nbsp;&nbsp;&nbsp; $13.27 |
| **Class N shares:** |  |
| Net assets | &nbsp;&nbsp;&nbsp; $2990798 |
| Shares of beneficial interest | &nbsp;&nbsp;&nbsp; 255472 |
| Net asset value, offering and redemption price per share | &nbsp;&nbsp;&nbsp; $11.71 |
| **Class Y shares:** |  |
| Net assets | &nbsp;&nbsp;&nbsp; $19163161 |
| Shares of beneficial interest | &nbsp;&nbsp;&nbsp; 1641541 |
| Net asset value, offering and redemption price per share | &nbsp;&nbsp;&nbsp; $11.67 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) As disclosed in the Notes to Financial Statements, if applicable.

See accompanying notes to financial statements.

3 \|

------

Statement of Operations

For the Year Ended January 31, 2026

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **INVESTMENT INCOME**  |  |
| Dividends | &nbsp;&nbsp;&nbsp; $1152115 |
| Interest | &nbsp;&nbsp;&nbsp; 13360 |
| Less net foreign taxes withheld | &nbsp;&nbsp;&nbsp; (42311)<br>|
|  | &nbsp;&nbsp;&nbsp; 1123164 |
| Expenses |  |
| Management fees (Note 5)  | &nbsp;&nbsp;&nbsp; 261980 |
| Service and distribution fees (Note 5)  | &nbsp;&nbsp;&nbsp; 32646 |
| Administrative fees (Note 5)  | &nbsp;&nbsp;&nbsp; 14935 |
| Trustees' fees and expenses (Note 5)  | &nbsp;&nbsp;&nbsp; 67755 |
| Transfer agent fees and expenses (Notes 5, 6 and 7)  | &nbsp;&nbsp;&nbsp; 57927 |
| Audit and tax services fees | &nbsp;&nbsp;&nbsp; 53134 |
| Custodian fees and expenses  | &nbsp;&nbsp;&nbsp; 32641 |
| Legal fees | &nbsp;&nbsp;&nbsp; 1262 |
| Registration fees | &nbsp;&nbsp;&nbsp; 77299 |
| Shareholder reporting expenses | &nbsp;&nbsp;&nbsp; 25214 |
| Miscellaneous expenses | &nbsp;&nbsp;&nbsp; 35223 |
| Total expenses | &nbsp;&nbsp;&nbsp; 660016 |
| Less waiver and/or expense reimbursement (Note 5)  | &nbsp;&nbsp;&nbsp; (311735)<br>|
| Less expense offset (Note 7)  | &nbsp;&nbsp;&nbsp; (1874)<br>|
| Net expenses | &nbsp;&nbsp;&nbsp; 346407 |
| Net investment income | &nbsp;&nbsp;&nbsp; 776757 |
| **Net realized and unrealized gain (loss) on Investments and Foreign currency transactions**  |  |
| Net realized gain (loss) on: |  |
| Investments | &nbsp;&nbsp;&nbsp; 1435274 |
| Capital gains distributions received (Note 2)  | &nbsp;&nbsp;&nbsp; 62245 |
| Foreign currency transactions (Note 2c)  | &nbsp;&nbsp;&nbsp; (4592)<br>|
| Net change in unrealized appreciation (depreciation) on: |  |
| Investments | &nbsp;&nbsp;&nbsp; 1180258 |
| Foreign currency translations (Note 2c)  | &nbsp;&nbsp;&nbsp; 1619 |
| Net realized and unrealized gain on Investments and Foreign currency transactions | &nbsp;&nbsp;&nbsp; 2674804 |
| **NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS** | &nbsp;&nbsp;&nbsp; $3451561 |

---

See accompanying notes to financial statements.

\| 4

------

Statement of Changes in Net Assets

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | **Year Ended** <br>**January 31, 2026**<br>| **Year Ended** <br>**January 31, 2025**<br>|
| **FROM OPERATIONS:** |  |  |
| Net investment income | &nbsp;&nbsp;&nbsp; $776757 | &nbsp;&nbsp;&nbsp; $878327 |
| Net realized gain on investments, including distributions of capital gains received from investments and foreign <br> currency transactions<br>| &nbsp;&nbsp;&nbsp; 1492927 | &nbsp;&nbsp;&nbsp; 2752845 |
| Net change in unrealized appreciation (depreciation) on investments and foreign currency translations | &nbsp;&nbsp;&nbsp; 1181877 | &nbsp;&nbsp;&nbsp; (832869)<br>|
| Net increase in net assets resulting from operations | &nbsp;&nbsp;&nbsp; 3451561 | &nbsp;&nbsp;&nbsp; 2798303 |
| **FROM DISTRIBUTIONS TO SHAREHOLDERS:** |  |  |
| Class A | &nbsp;&nbsp;&nbsp; (357235)<br>| &nbsp;&nbsp;&nbsp; (513591)<br>|
| Class C | &nbsp;&nbsp;&nbsp; (2461)<br>| &nbsp;&nbsp;&nbsp; (4684)<br>|
| Class N | &nbsp;&nbsp;&nbsp; (103657)<br>| &nbsp;&nbsp;&nbsp; (135843)<br>|
| Class Y | &nbsp;&nbsp;&nbsp; (655083)<br>| &nbsp;&nbsp;&nbsp; (836551)<br>|
| Total distributions | &nbsp;&nbsp;&nbsp; (1118436)<br>| &nbsp;&nbsp;&nbsp; (1490669)<br>|
| **NET DECREASE IN NET ASSETS** <br>**FROM CAPITAL SHARES TRANSACTIONS** <br>**(Note 11)**<br>| &nbsp;&nbsp;&nbsp; (2800324)<br>| &nbsp;&nbsp;&nbsp; (22659537)<br>|
| Net decrease in net assets | &nbsp;&nbsp;&nbsp; (467199)<br>| &nbsp;&nbsp;&nbsp; (21351903)<br>|
| **NET ASSETS** |  |  |
| Beginning of the year | &nbsp;&nbsp;&nbsp; 35153517 | &nbsp;&nbsp;&nbsp; 56505420 |
| End of the year | &nbsp;&nbsp;&nbsp; $34686318 | &nbsp;&nbsp;&nbsp; $35153517 |

---

See accompanying notes to financial statements.

5 \|

------

Financial Highlights

For a share outstanding throughout each period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** |
|  | **Year Ended** <br>**January 31,** <br>**2026**<br>| **Year Ended** <br>**January 31,** <br>**2025**<br>| **Year Ended** <br>**January 31,** <br>**2024**<br>| **Year Ended** <br>**January 31,** <br>**2023**<br>| **Year Ended** <br>**January 31,** <br>**2022**<br>|
| Net asset value, beginning of the period | &nbsp;&nbsp;&nbsp; $12.25 | &nbsp;&nbsp;&nbsp; $11.81 | &nbsp;&nbsp;&nbsp; $12.25 | &nbsp;&nbsp;&nbsp; $14.58 | &nbsp;&nbsp;&nbsp; $12.48 |
| **INCOME (LOSS) FROM INVESTMENT OPERATIONS:** |  |  |  |  |  |
| Net investment income(a) | &nbsp;&nbsp;&nbsp;&nbsp;0.26 | &nbsp;&nbsp;&nbsp;&nbsp;0.28 | &nbsp;&nbsp;&nbsp;&nbsp;0.28 | &nbsp;&nbsp;&nbsp;&nbsp;0.24 | &nbsp;&nbsp;&nbsp;&nbsp; 0.22 <br>(b)<br>|
| Net realized and unrealized gain (loss) | &nbsp;&nbsp;&nbsp;&nbsp;1.01 | &nbsp;&nbsp;&nbsp;&nbsp;0.61 | &nbsp;&nbsp;&nbsp; (0.45)<br>| &nbsp;&nbsp;&nbsp; (2.30)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.68 |
| Total from Investment Operations | &nbsp;&nbsp;&nbsp;&nbsp;1.27 | &nbsp;&nbsp;&nbsp;&nbsp;0.89 | &nbsp;&nbsp;&nbsp; (0.17)<br>| &nbsp;&nbsp;&nbsp; (2.06)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.90 |
| **LESS DISTRIBUTIONS FROM:** |  |  |  |  |  |
| Net investment income | &nbsp;&nbsp;&nbsp; (0.37)<br>| &nbsp;&nbsp;&nbsp; (0.45)<br>| &nbsp;&nbsp;&nbsp; (0.27)<br>| &nbsp;&nbsp;&nbsp; (0.15)<br>| &nbsp;&nbsp;&nbsp; (0.47)<br>|
| Net realized capital gains | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (0.12)<br>| &nbsp;&nbsp;&nbsp; (0.33)<br>|
| Total Distributions | &nbsp;&nbsp;&nbsp; (0.37)<br>| &nbsp;&nbsp;&nbsp; (0.45)<br>| &nbsp;&nbsp;&nbsp; (0.27)<br>| &nbsp;&nbsp;&nbsp; (0.27)<br>| &nbsp;&nbsp;&nbsp; (0.80)<br>|
| Net asset value, end of the period | &nbsp;&nbsp;&nbsp; $13.15 | &nbsp;&nbsp;&nbsp; $12.25 | &nbsp;&nbsp;&nbsp; $11.81 | &nbsp;&nbsp;&nbsp; $12.25 | &nbsp;&nbsp;&nbsp; $14.58 |
| Total return(c)(d) <br>| &nbsp;&nbsp;&nbsp;&nbsp; 10.50<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 7.68<br> %<br>| &nbsp;&nbsp;&nbsp; (1.21)%<br>| &nbsp;&nbsp;&nbsp; (14.16)%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 23.39 %(b)<br>|
| **RATIOS TO AVERAGE NET ASSETS:** |  |  |  |  |  |
| Net assets, end of the period (000's) | &nbsp;&nbsp;&nbsp; $12420 | &nbsp;&nbsp;&nbsp; $13025 | &nbsp;&nbsp;&nbsp; $14287 | &nbsp;&nbsp;&nbsp; $18018 | &nbsp;&nbsp;&nbsp; $24653 |
| Net expenses(e) <br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.15<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.15<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.17 %(f)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.15<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.15<br> %<br>|
| Gross expenses | &nbsp;&nbsp;&nbsp;&nbsp; 2.06<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.01<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.58 %(f)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.41<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.42<br> %<br>|
| Net investment income | &nbsp;&nbsp;&nbsp;&nbsp; 2.06<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.26<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.45<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.92<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.51<br> %(b)<br>|
| Portfolio turnover rate | &nbsp;&nbsp;&nbsp; 64<br> %<br>| &nbsp;&nbsp;&nbsp; 81<br> %<br>| &nbsp;&nbsp;&nbsp; 88<br> %<br>| &nbsp;&nbsp;&nbsp; 90<br> %<br>| &nbsp;&nbsp;&nbsp; 84<br> %<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) Per share net investment income has been calculated using the average shares outstanding during the period.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Includes a non-recurring dividend. Without this dividend, net investment income per share would have been $0.17, total return would have been 22.99% and the ratio of net investment income to average net assets would have been 1.14%.

&nbsp;&nbsp;&nbsp;&nbsp;(c) A sales charge for Class A shares is not reflected in total return calculations.

&nbsp;&nbsp;&nbsp;&nbsp;(d) Had certain expenses not been waived/reimbursed during the period, total returns would have been lower.

&nbsp;&nbsp;&nbsp;&nbsp;(e) The investment adviser agreed to waive its fees and/or reimburse a portion of the Fund's expenses during the period. Without this waiver/reimbursement, expenses would have been higher.

&nbsp;&nbsp;&nbsp;&nbsp;(f) Includes interest expense. Without this expense the ratio of net expenses would have been 1.15% and the ratio of gross expenses would have been 1.57%.

See accompanying notes to financial statements.

\| 6

------

Financial Highlights (continued)

For a share outstanding throughout each period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** |
|  | **Year Ended** <br>**January 31,** <br>**2026**<br>| **Year Ended** <br>**January 31,** <br>**2025**<br>| **Year Ended** <br>**January 31,** <br>**2024**<br>| **Year Ended** <br>**January 31,** <br>**2023**<br>| **Year Ended** <br>**January 31,** <br>**2022**<br>|
| Net asset value, beginning of the period | &nbsp;&nbsp;&nbsp; $12.35 | &nbsp;&nbsp;&nbsp; $11.90 | &nbsp;&nbsp;&nbsp; $12.33 | &nbsp;&nbsp;&nbsp; $14.69 | &nbsp;&nbsp;&nbsp; $12.56 |
| **INCOME (LOSS) FROM INVESTMENT OPERATIONS:** |  |  |  |  |  |
| Net investment income(a) <br>| &nbsp;&nbsp;&nbsp;&nbsp;0.17 | &nbsp;&nbsp;&nbsp;&nbsp;0.19 | &nbsp;&nbsp;&nbsp;&nbsp;0.20 | &nbsp;&nbsp;&nbsp;&nbsp;0.15 | &nbsp;&nbsp;&nbsp;&nbsp; 0.12 <br>(b)<br>|
| Net realized and unrealized gain (loss) | &nbsp;&nbsp;&nbsp;&nbsp;1.01 | &nbsp;&nbsp;&nbsp;&nbsp;0.61 | &nbsp;&nbsp;&nbsp; (0.45)<br>| &nbsp;&nbsp;&nbsp; (2.32)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.69 |
| Total from Investment Operations | &nbsp;&nbsp;&nbsp;&nbsp;1.18 | &nbsp;&nbsp;&nbsp;&nbsp;0.80 | &nbsp;&nbsp;&nbsp; (0.25)<br>| &nbsp;&nbsp;&nbsp; (2.17)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.81 |
| **LESS DISTRIBUTIONS FROM:** |  |  |  |  |  |
| Net investment income | &nbsp;&nbsp;&nbsp; (0.26)<br>| &nbsp;&nbsp;&nbsp; (0.35)<br>| &nbsp;&nbsp;&nbsp; (0.18)<br>| &nbsp;&nbsp;&nbsp; (0.07)<br>| &nbsp;&nbsp;&nbsp; (0.35)<br>|
| Net realized capital gains | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (0.12)<br>| &nbsp;&nbsp;&nbsp; (0.33)<br>|
| Total Distributions | &nbsp;&nbsp;&nbsp; (0.26)<br>| &nbsp;&nbsp;&nbsp; (0.35)<br>| &nbsp;&nbsp;&nbsp; (0.18)<br>| &nbsp;&nbsp;&nbsp; (0.19)<br>| &nbsp;&nbsp;&nbsp; (0.68)<br>|
| Net asset value, end of the period | &nbsp;&nbsp;&nbsp; $13.27 | &nbsp;&nbsp;&nbsp; $12.35 | &nbsp;&nbsp;&nbsp; $11.90 | &nbsp;&nbsp;&nbsp; $12.33 | &nbsp;&nbsp;&nbsp; $14.69 |
| Total return(c)(d) <br>| &nbsp;&nbsp;&nbsp;&nbsp; 9.69<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 6.86<br> %<br>| &nbsp;&nbsp;&nbsp; (1.86)%<br>| &nbsp;&nbsp;&nbsp; (14.89)%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 22.48 %(b)<br>|
| **RATIOS TO AVERAGE NET ASSETS:** |  |  |  |  |  |
| Net assets, end of the period (000's) | &nbsp;&nbsp;&nbsp; $112 | &nbsp;&nbsp;&nbsp; $147 | &nbsp;&nbsp;&nbsp; $192 | &nbsp;&nbsp;&nbsp; $284 | &nbsp;&nbsp;&nbsp; $397 |
| Net expenses(e) <br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.90<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.90<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.91 %(f)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.90<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.90<br> %<br>|
| Gross expenses | &nbsp;&nbsp;&nbsp;&nbsp; 2.81<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.76<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.33 %(f)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.16<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.18<br> %<br>|
| Net investment income | &nbsp;&nbsp;&nbsp;&nbsp; 1.36<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.49<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.74<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.17<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.84 %(b)<br>|
| Portfolio turnover rate | &nbsp;&nbsp;&nbsp; 64<br> %<br>| &nbsp;&nbsp;&nbsp; 81<br> %<br>| &nbsp;&nbsp;&nbsp; 88<br> %<br>| &nbsp;&nbsp;&nbsp; 90<br> %<br>| &nbsp;&nbsp;&nbsp; 84<br> %<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) Per share net investment income has been calculated using the average shares outstanding during the period.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Includes a non-recurring dividend. Without this dividend, net investment income per share would have been $0.07, total return would have been 21.99% and the ratio of net investment income to average net assets would have been 0.51%.

&nbsp;&nbsp;&nbsp;&nbsp;(c) A contingent deferred sales charge for Class C shares is not reflected in total return calculations.

&nbsp;&nbsp;&nbsp;&nbsp;(d) Had certain expenses not been waived/reimbursed during the period, total returns would have been lower.

&nbsp;&nbsp;&nbsp;&nbsp;(e) The investment adviser agreed to waive its fees and/or reimburse a portion of the Fund's expenses during the period. Without this waiver/reimbursement, expenses would have been higher.

&nbsp;&nbsp;&nbsp;&nbsp;(f) Includes interest expense. Without this expense the ratio of net expenses would have been 1.90% and the ratio of gross expenses would have been 2.32%.

See accompanying notes to financial statements.

7 \|

------

Financial Highlights (continued)

For a share outstanding throughout each period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Class N** | **Class N** | **Class N** | **Class N** | **Class N** |
|  | **Year Ended** <br>**January 31,** <br>**2026**<br>| **Year Ended** <br>**January 31,** <br>**2025**<br>| **Year Ended** <br>**January 31,** <br>**2024**<br>| **Year Ended** <br>**January 31,** <br>**2023**<br>| **Year Ended** <br>**January 31,** <br>**2022**<br>|
| Net asset value, beginning of the period | &nbsp;&nbsp;&nbsp; $10.95 | &nbsp;&nbsp;&nbsp; $10.61 | &nbsp;&nbsp;&nbsp; $11.03 | &nbsp;&nbsp;&nbsp; $13.18 | &nbsp;&nbsp;&nbsp; $11.35 |
| **INCOME (LOSS) FROM INVESTMENT OPERATIONS:** |  |  |  |  |  |
| Net investment income(a) <br>| &nbsp;&nbsp;&nbsp;&nbsp;0.27 | &nbsp;&nbsp;&nbsp;&nbsp;0.28 | &nbsp;&nbsp;&nbsp;&nbsp;0.28 | &nbsp;&nbsp;&nbsp;&nbsp;0.25 | &nbsp;&nbsp;&nbsp;&nbsp; 0.24 <br>(b)<br>|
| Net realized and unrealized gain (loss) | &nbsp;&nbsp;&nbsp;&nbsp;0.89 | &nbsp;&nbsp;&nbsp;&nbsp;0.55 | &nbsp;&nbsp;&nbsp; (0.40)<br>| &nbsp;&nbsp;&nbsp; (2.09)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.43 |
| Total from Investment Operations | &nbsp;&nbsp;&nbsp;&nbsp;1.16 | &nbsp;&nbsp;&nbsp;&nbsp;0.83 | &nbsp;&nbsp;&nbsp; (0.12)<br>| &nbsp;&nbsp;&nbsp; (1.84)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.67 |
| **LESS DISTRIBUTIONS FROM:** |  |  |  |  |  |
| Net investment income | &nbsp;&nbsp;&nbsp; (0.40)<br>| &nbsp;&nbsp;&nbsp; (0.49)<br>| &nbsp;&nbsp;&nbsp; (0.30)<br>| &nbsp;&nbsp;&nbsp; (0.19)<br>| &nbsp;&nbsp;&nbsp; (0.51)<br>|
| Net realized capital gains | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (0.12)<br>| &nbsp;&nbsp;&nbsp; (0.33)<br>|
| Total Distributions | &nbsp;&nbsp;&nbsp; (0.40)<br>| &nbsp;&nbsp;&nbsp; (0.49)<br>| &nbsp;&nbsp;&nbsp; (0.30)<br>| &nbsp;&nbsp;&nbsp; (0.31)<br>| &nbsp;&nbsp;&nbsp; (0.84)<br>|
| Net asset value, end of the period | &nbsp;&nbsp;&nbsp; $11.71 | &nbsp;&nbsp;&nbsp; $10.95 | &nbsp;&nbsp;&nbsp; $10.61 | &nbsp;&nbsp;&nbsp; $11.03 | &nbsp;&nbsp;&nbsp; $13.18 |
| Total return(c) <br>| &nbsp;&nbsp;&nbsp;&nbsp; 10.85<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 7.98<br> %<br>| &nbsp;&nbsp;&nbsp; (0.82)%<br>| &nbsp;&nbsp;&nbsp; (13.99)%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 23.76 %(b)<br>|
| **RATIOS TO AVERAGE NET ASSETS:** |  |  |  |  |  |
| Net assets, end of the period (000's) | &nbsp;&nbsp;&nbsp; $2991 | &nbsp;&nbsp;&nbsp; $2725 | &nbsp;&nbsp;&nbsp; $3585 | &nbsp;&nbsp;&nbsp; $3545 | &nbsp;&nbsp;&nbsp; $3654 |
| Net expenses(d) <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.85<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.85<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.87 %(e)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.85<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.85<br> %<br>|
| Gross expenses | &nbsp;&nbsp;&nbsp;&nbsp; 1.67<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.61<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.24 %(e)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.09<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.10<br> %<br>|
| Net investment income | &nbsp;&nbsp;&nbsp;&nbsp; 2.37<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.54<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.71<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.22<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.80 %(b)<br>|
| Portfolio turnover rate | &nbsp;&nbsp;&nbsp; 64<br> %<br>| &nbsp;&nbsp;&nbsp; 81<br> %<br>| &nbsp;&nbsp;&nbsp; 88<br> %<br>| &nbsp;&nbsp;&nbsp; 90<br> %<br>| &nbsp;&nbsp;&nbsp; 84<br> %<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) Per share net investment income has been calculated using the average shares outstanding during the period.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Includes a non-recurring dividend. Without this dividend, net investment income per share would have been $0.19, total return would have been 23.30% and the ratio of net investment income to average net assets would have been 1.43%.

&nbsp;&nbsp;&nbsp;&nbsp;(c) Had certain expenses not been waived/reimbursed during the period, total returns would have been lower.

&nbsp;&nbsp;&nbsp;&nbsp;(d) The investment adviser agreed to waive its fees and/or reimburse a portion of the Fund's expenses during the period. Without this waiver/reimbursement, expenses would have been higher.

&nbsp;&nbsp;&nbsp;&nbsp;(e) Includes interest expense. Without this expense the ratio of net expenses would have been 0.85% and the ratio of gross expenses would have been 1.23%.

See accompanying notes to financial statements.

\| 8

------

Financial Highlights (continued)

For a share outstanding throughout each period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** |
|  | **Year Ended** <br>**January 31,** <br>**2026**<br>| **Year Ended** <br>**January 31,** <br>**2025**<br>| **Year Ended** <br>**January 31,** <br>**2024**<br>| **Year Ended** <br>**January 31,** <br>**2023**<br>| **Year Ended** <br>**January 31,** <br>**2022**<br>|
| Net asset value, beginning of the period | &nbsp;&nbsp;&nbsp; $10.92 | &nbsp;&nbsp;&nbsp; $10.58 | &nbsp;&nbsp;&nbsp; $11.00 | &nbsp;&nbsp;&nbsp; $13.14 | &nbsp;&nbsp;&nbsp; $11.32 |
| **INCOME (LOSS) FROM INVESTMENT OPERATIONS:** |  |  |  |  |  |
| Net investment income(a) <br>| &nbsp;&nbsp;&nbsp;&nbsp;0.26 | &nbsp;&nbsp;&nbsp;&nbsp;0.26 | &nbsp;&nbsp;&nbsp;&nbsp;0.27 | &nbsp;&nbsp;&nbsp;&nbsp;0.25 | &nbsp;&nbsp;&nbsp;&nbsp; 0.23 <br>(b)<br>|
| Net realized and unrealized gain (loss) | &nbsp;&nbsp;&nbsp;&nbsp;0.89 | &nbsp;&nbsp;&nbsp;&nbsp;0.56 | &nbsp;&nbsp;&nbsp; (0.40)<br>| &nbsp;&nbsp;&nbsp; (2.08)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.42 |
| Total from Investment Operations | &nbsp;&nbsp;&nbsp;&nbsp;1.15 | &nbsp;&nbsp;&nbsp;&nbsp;0.82 | &nbsp;&nbsp;&nbsp; (0.13)<br>| &nbsp;&nbsp;&nbsp; (1.83)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.65 |
| **LESS DISTRIBUTIONS FROM:** |  |  |  |  |  |
| Net investment income | &nbsp;&nbsp;&nbsp; (0.40)<br>| &nbsp;&nbsp;&nbsp; (0.48)<br>| &nbsp;&nbsp;&nbsp; (0.29)<br>| &nbsp;&nbsp;&nbsp; (0.19)<br>| &nbsp;&nbsp;&nbsp; (0.50)<br>|
| Net realized capital gains | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (0.12)<br>| &nbsp;&nbsp;&nbsp; (0.33)<br>|
| Total Distributions | &nbsp;&nbsp;&nbsp; (0.40)<br>| &nbsp;&nbsp;&nbsp; (0.48)<br>| &nbsp;&nbsp;&nbsp; (0.29)<br>| &nbsp;&nbsp;&nbsp; (0.31)<br>| &nbsp;&nbsp;&nbsp; (0.83)<br>|
| Net asset value, end of the period | &nbsp;&nbsp;&nbsp; $11.67 | &nbsp;&nbsp;&nbsp; $10.92 | &nbsp;&nbsp;&nbsp; $10.58 | &nbsp;&nbsp;&nbsp; $11.00 | &nbsp;&nbsp;&nbsp; $13.14 |
| Total return(c) <br>| &nbsp;&nbsp;&nbsp;&nbsp; 10.73<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 7.94<br> %<br>| &nbsp;&nbsp;&nbsp; (0.88)%<br>| &nbsp;&nbsp;&nbsp; (14.00)%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 23.67 %(b)<br>|
| **RATIOS TO AVERAGE NET ASSETS:** |  |  |  |  |  |
| Net assets, end of the period (000's) | &nbsp;&nbsp;&nbsp; $19163 | &nbsp;&nbsp;&nbsp; $19257 | &nbsp;&nbsp;&nbsp; $38441 | &nbsp;&nbsp;&nbsp; $70337 | &nbsp;&nbsp;&nbsp; $113795 |
| Net expenses(d) <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.90<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.90<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.91 %(e)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.90<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.90<br> %<br>|
| Gross expenses | &nbsp;&nbsp;&nbsp;&nbsp; 1.81<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.76<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.33 %(e)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.16<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.16<br> %<br>|
| Net investment income | &nbsp;&nbsp;&nbsp;&nbsp; 2.31<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.39<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.68<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.19<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.70 %(b)<br>|
| Portfolio turnover rate | &nbsp;&nbsp;&nbsp; 64<br> %<br>| &nbsp;&nbsp;&nbsp; 81<br> %<br>| &nbsp;&nbsp;&nbsp; 88<br> %<br>| &nbsp;&nbsp;&nbsp; 90<br> %<br>| &nbsp;&nbsp;&nbsp; 84<br> %<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) Per share net investment income has been calculated using the average shares outstanding during the period.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Includes a non-recurring dividend. Without this dividend, net investment income per share would have been $0.17, total return would have been 23.22% and the ratio of net investment income to average net assets would have been 1.27%.

&nbsp;&nbsp;&nbsp;&nbsp;(c) Had certain expenses not been waived/reimbursed during the period, total returns would have been lower.

&nbsp;&nbsp;&nbsp;&nbsp;(d) The investment adviser agreed to waive its fees and/or reimburse a portion of the Fund's expenses during the period. Without this waiver/reimbursement, expenses would have been higher.

&nbsp;&nbsp;&nbsp;&nbsp;(e) Includes interest expense. Without this expense the ratio of net expenses would have been 0.90% and the ratio of gross expenses would have been 1.32%.

See accompanying notes to financial statements.

9 \|

------

Notes to Financial Statements

January 31, 2026

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**1. Organization.** Natixis Funds Trust IV (the "Trust") is organized as a Massachusetts business trust. The Trust is registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end management investment company. The Declaration of Trust permits the Board of Trustees to authorize the issuance of an unlimited number of shares of the Trust in multiple series. The financial statements for certain funds of the Trust are presented in separate reports. Information presented in this report pertains to AEW Global Focused Real Estate Fund (the "Fund").

The Fund is a diversified investment company.

The Fund offers Class A, Class C, Class N and Class Y shares.

Class A shares are sold with a maximum front-end sales charge of 5.75%. Class C shares do not pay a front-end sales charge, pay higher Rule 12b-1 fees than Class A shares for eight years (at which point they automatically convert to Class A shares) (prior to May 1, 2021, Class C shares automatically converted to Class A shares after ten years) and may be subject to a contingent deferred sales charge ("CDSC") of 1.00% if those shares are redeemed within one year of acquisition, except for reinvested distributions. Class N and Class Y shares do not pay a front-end sales charge, a CDSC or Rule 12b-1 fees. Class N shares are offered with an initial minimum investment of $1,000,000. Class Y shares are offered with an initial minimum investment of $100,000. Certain categories of investors are exempted from the minimum investment amounts for Class N and Class Y as outlined in the Fund's prospectus.

Most expenses can be directly attributed to a Fund. Expenses which cannot be directly attributed to a Fund are generally apportioned based on the relative net assets of each of the Funds in Natixis Funds Trust I, Natixis Funds Trust II, Natixis Funds Trust IV and Gateway Trust ("Natixis Funds Trusts"), Loomis Sayles Funds I and Loomis Sayles Funds II ("Loomis Sayles Funds Trusts") and Natixis ETF Trust and Natixis ETF Trust II ("Natixis ETF Trusts"). Expenses of the Fund are borne *pro rata* by the holders of each class of shares, except that each class bears expenses unique to that class (such as the Rule 12b-1 fees applicable to Class A and Class C), and transfer agent fees are borne collectively for Class A, Class C and Class Y and individually for Class N. In addition, each class votes as a class only with respect to its own Rule 12b-1 Plan. Shares of each class would receive their *pro rata* share of the net assets of the Fund if the Fund were liquidated. The Trustees approve separate distributions from net investment income on each class of shares.

**2. Significant Accounting Policies.** The following is a summary of significant accounting policies consistently followed by the Fund in the preparation of its financial statements. The Fund's financial statements follow the accounting and reporting guidelines provided for investment companies and are prepared in accordance with accounting principles generally accepted in the United States of America which require the use of management estimates that affect the reported amounts and disclosures in the financial statements. Actual results could differ from those estimates. The Fund operates as a single segment entity, focusing on investments in a portfolio of securities. The Fund's named president acts as chief operating decision maker ("CODM") regarding allocation of resources and performance assessment. Financial information including, but not limited to, portfolio composition, net asset changes and total returns, is used by the CODM to assess performance and to make resource allocation decisions and is consistent with that presented within the financial statements. Management has evaluated the events and transactions subsequent to year-end through the date the financial statements were issued and has determined that there were no material events that would require disclosure in the Fund's financial statements.

**a. Valuation.** Registered investment companies are required to value portfolio investments using an unadjusted, readily available market quotation. Each Fund obtains readily available market quotations from independent pricing services. Fund investments for which readily available market quotations are not available are priced at fair value pursuant to the Funds' Valuation Procedures. The Board of Trustees has approved a valuation designee who is subject to the Board's oversight.

Unadjusted readily available market quotations that are utilized for exchange traded equity securities (including shares of closed-end investment companies and exchange-traded funds) include the last sale price quoted on the exchange where the security is traded most extensively. Shares of open-end investment companies are valued at net asset value ("NAV") per share.

Exchange traded equity securities for which there is no reported sale during the day are fair valued at the closing bid quotation as reported by an independent pricing service. Unlisted equity securities (except unlisted preferred equity securities) are fair valued at the last sale price quoted in the market where they are traded most extensively or, if there is no reported sale during the day, the closing bid quotation as reported by an independent pricing service. If there is no last sale price or closing bid quotation available, unlisted equity securities will be fair valued using evaluated bids furnished by an independent pricing service, if available.

Debt securities and unlisted preferred equity securities are fair valued based on evaluated bids furnished to the Fund by an independent pricing service or bid prices obtained from broker-dealers. Broker-dealer bid prices may be used to fair value debt and unlisted equities where an independent pricing service is unable to price an investment or where an independent pricing service does not provide a reliable price for the investment.

\| 10

------

Notes to Financial Statements (continued)

January 31, 2026

The Fund may also fair value investments in other circumstances such as when extraordinary events occur after the close of a foreign market, but prior to the close of the New York Stock Exchange. This may include situations relating to a single issuer (such as a declaration of bankruptcy or a delisting of the issuer's security from the primary market on which it has traded) as well as events affecting the securities markets in general (such as market disruptions or closings and significant fluctuations in U.S. and/or foreign markets). When fair valuing a Fund's investments, the valuation designee may, among other things, use modeling tools or other processes that may take into account factors such as issuer specific information, or other related market activity and/or information that occurred after the close of the foreign market but before the time the Fund's NAV is calculated. Fair valuation by the Fund's valuation designee may require subjective determinations about the value of the investment, and fair values used to determine a Fund's NAV may differ from quoted or published prices, or from prices that are used by others, for the same investments. In addition, the use of fair value pricing may not always result in adjustments to the prices of investments held by a Fund.

**b. Investment Transactions and Related Investment Income.** Investment transactions are accounted for on a trade date plus one day basis for daily NAV calculation. However, for financial reporting purposes, investment transactions are reported on the trade date. Dividend income (including income reinvested) and foreign withholding tax, if applicable, is recorded on the ex-dividend date, or in the case of certain foreign securities, as soon as the Fund is notified, and interest income is recorded on an accrual basis. Distributions received from investments in securities that represent a return of capital or capital gain are recorded as a reduction of cost of investments or as a realized gain, respectively. The calendar year-end amounts of ordinary income, capital gains, and return of capital included in dividends received from the Fund's investments in real estate investment trusts ("REITs") are reported to the Fund after the end of the calendar year; accordingly, the Fund estimates these amounts for accounting purposes until the characterization of REIT distributions is reported to the Fund after the end of the calendar year. Estimates for the period from January 1 through January 31, 2026 are included in the Statement of Operations. Estimates are based on the most recent REIT distribution information available. Interest income is increased by the accretion of discount and decreased by the amortization of premium, if applicable. In determining net gain or loss on securities sold, the cost of securities has been determined on an identified cost basis. Investment income, non-class-specific expenses and realized and unrealized gains and losses are allocated on a *pro rata* basis to each class based on the relative net assets of each class to the total net assets of the Fund.

**c. Foreign Currency Translation.** The books and records of the Fund are maintained in U.S. dollars. The values of securities, currencies and other assets and liabilities denominated in currencies other than U.S. dollars, if any, are translated into U.S. dollars based upon foreign exchange rates prevailing at the end of the period. Purchases and sales of investment securities, income and expenses are translated into U.S. dollars on the respective dates of such transactions.

Net realized foreign exchange gains or losses arise from sales of foreign currency, changes in exchange rates between the trade and settlement dates on securities transactions and the difference between the amounts of dividends, interest and foreign withholding taxes recorded in the Fund's books and records and the U.S. dollar equivalent of the amounts actually received or paid. Net unrealized foreign exchange gains or losses arise from changes in the value of assets and liabilities, other than investment securities, as of the end of the fiscal period, resulting from changes in exchange rates. Net realized foreign exchange gains or losses and the net change in unrealized foreign exchange gains or losses are disclosed in the Statement of Operations. For federal income tax purposes, net realized foreign exchange gains or losses are characterized as ordinary income, and may, if the Fund has net losses, reduce the amount of income available to be distributed by the Fund.

The values of investment securities are presented at the foreign exchange rates prevailing at the end of the period for financial reporting purposes. Net realized and unrealized gains or losses on investments reported in the Statement of Operations reflect gains or losses resulting from changes in exchange rates and fluctuations which arise due to changes in market prices of investment securities. For federal income tax purposes, a portion of the net realized gain or loss on investments arising from changes in exchange rates, which is reflected in the Statement of Operations, may be characterized as ordinary income and may, if the Fund has net losses, reduce the amount of income available to be distributed by the Fund.

The Fund may use foreign currency exchange contracts to facilitate transactions in foreign-denominated investments. Losses may arise from changes in the value of the foreign currency or if the counterparties do not perform under the contracts' terms.

**d. Federal and Foreign Income Taxes.** The Fund intends to meet the requirements of the Internal Revenue Code of 1986, as amended, applicable to regulated investment companies, and to distribute to its shareholders substantially all of its net investment income and any net realized capital gains at least annually. Management has performed an analysis of the Fund's tax positions for the open tax years as of January 31, 2026 and has concluded that no provisions for income tax are required. The Fund's federal tax returns for the prior three fiscal years remain subject to examination by the Internal Revenue Service.

The Fund may be subject to foreign withholding taxes on investment income and taxes on capital gains on investments that are accrued and paid based upon the Fund's understanding of the tax rules and regulations that exist in the countries in which the Fund

11 \|

------

Notes to Financial Statements (continued)

January 31, 2026

invests. Foreign withholding taxes on dividend and interest income are reflected on the Statement of Operations as a reduction of investment income, net of amounts that have been or are expected to be reclaimed and paid. Dividends and interest receivable on the Statement of Assets and Liabilities are net of foreign withholding taxes. Foreign withholding taxes where reclaims have been or are expected to be filed and paid are reflected on the Statement of Assets and Liabilities as tax reclaims receivable. Capital gains taxes paid are included in net realized gain (loss) on investments in the Statement of Operations. Accrued but unpaid capital gains taxes are reflected as foreign taxes payable on the Statement of Assets and Liabilities, if applicable, and reduce unrealized gains on investments. In the event that realized gains on investments are subsequently offset by realized losses, taxes paid on realized gains may be returned to the Fund. Such amounts, if applicable, are reflected as foreign tax rebates receivable on the Statement of Assets and Liabilities and are recorded as a realized gain when received.

**e. Dividends and Distributions to Shareholders.** Dividends and distributions are recorded on the ex-dividend date. The timing and characterization of certain income and capital gain distributions are determined annually in accordance with federal tax regulations, which may differ from accounting principles generally accepted in the United States of America. When the Fund identifies the character of distributions paid by REITs in the previous calendar year, certain distributions to Fund shareholders may be redesignated as capital gain distributions or, if in excess of taxable income, as a return of capital. Permanent differences are primarily due to differing treatments for book and tax purposes of items such as deferred Trustees' fees, foreign currency gains and losses and passive foreign investment company adjustments. Permanent book and tax basis differences relating to shareholder distributions, net investment income and net realized gains will result in reclassifications to the capital accounts reported on the Statement of Assets and Liabilities. Temporary differences between book and tax distributable earnings are primarily due to deferred Trustees' fees, passive foreign investment company adjustments and wash sales. Amounts of income and capital gain available to be distributed on a tax basis are determined annually, and at other times during the Fund's fiscal year as may be necessary to avoid knowingly declaring and paying a return of capital distribution. Distributions from net investment income and short-term capital gains are considered to be distributed from ordinary income for tax purposes.

The tax characterization of distributions is determined on an annual basis. The tax character of distributions paid to shareholders during the years ended January 31, 2026 and 2025 was as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| 2026 Distributions | 2026 Distributions | 2026 Distributions | 2025 Distributions | 2025 Distributions | 2025 Distributions |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ordinary <br>Income<br>| &nbsp;&nbsp;&nbsp; Long-Term <br>Capital <br>Gains<br>| Total | &nbsp;&nbsp;&nbsp; Ordinary <br>Income<br>| &nbsp;&nbsp;&nbsp; Long-Term <br>Capital <br>Gains<br>| Total |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1118436 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $1118436 | &nbsp;&nbsp;&nbsp; $1490669 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $1490669 |

---

Distributions paid to shareholders from net investment income and net realized capital gains, based on accounting principles generally accepted in the United States of America, are consolidated and reported on the Statement of Changes in Net Assets as Distributions to Shareholders. Distributions paid to shareholders from net investment income and net realized capital gains expressed in per-share amounts, based on accounting principles generally accepted in the United States of America, are separately stated and reported within the Financial Highlights.

As of January 31, 2026, the components of distributable earnings on a tax basis were as follows:

---

| | |
|:---|:---|
| Undistributed ordinary income | &nbsp;&nbsp; $180686 |
| Capital loss carryforward: |  |
| Short-term: |  |
| No expiration date | &nbsp;&nbsp; (6860656)<br>|
| Long-term: |  |
| No expiration date | &nbsp;&nbsp; (7026964)<br>|
| Total capital loss carryforward | &nbsp;&nbsp; (13887620)<br>|
| Unrealized appreciation | &nbsp;&nbsp; 2351930 |
| Total accumulated losses | &nbsp;&nbsp; $(11355004)<br>|

---

\| 12

------

Notes to Financial Statements (continued)

January 31, 2026

As of January 31, 2026, the tax cost of investments and unrealized appreciation (depreciation) on a federal tax basis were as follows:

---

| | |
|:---|:---|
| Federal tax cost | &nbsp;&nbsp; $32979236 |
| Gross tax appreciation | &nbsp;&nbsp; $3123824 |
| Gross tax depreciation | &nbsp;&nbsp; (772695)<br>|
| Net tax appreciation | &nbsp;&nbsp; $2351129 |

---

The difference between these amounts and those reported in the components of distributable earnings, if any, are primarily attributable to foreign currency mark-to-market.

**f. Repurchase Agreements.** The Fund may enter into repurchase agreements, under the terms of a Master Repurchase Agreement, under which the Fund acquires securities as collateral and agrees to resell the securities at an agreed upon time and at an agreed upon price. It is the Fund's policy that the market value of the collateral for repurchase agreements be at least equal to 102% of the repurchase price, including interest. Certain repurchase agreements are tri-party arrangements whereby the collateral is held in a segregated account for the benefit of the Fund and on behalf of the counterparty. Repurchase agreements could involve certain risks in the event of default or insolvency of the counterparty, including possible delays or restrictions upon the Fund's ability to dispose of the underlying securities. As of January 31, 2026, the Fund had an investment in a repurchase agreement for which the value of the related collateral exceeded the value of the repurchase agreement. The gross value of repurchase agreements is included in the Statement of Assets and Liabilities for financial reporting purposes.

**g. Indemnifications.** Under the Trust's organizational documents, its officers and Trustees are indemnified against certain liabilities arising out of the performance of their duties to the Fund. Additionally, in the normal course of business, the Fund enters into contracts with service providers that contain general indemnification clauses. The Fund's maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Fund that have not yet occurred. However, based on experience, the Fund expects the risk of loss to be remote.

**3. Fair Value Measurements.** In accordance with accounting standards related to fair value measurements and disclosures, the Fund has categorized the inputs utilized in determining the value of the Fund's assets or liabilities. These inputs are summarized in the three broad levels listed below:

&nbsp;&nbsp;&nbsp;&nbsp;• Level 1 — quoted prices in active markets for identical assets or liabilities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 2 — prices determined using other significant inputs that are observable either directly, or indirectly through corroboration with observable market data (which could include quoted prices for similar assets or liabilities, interest rates, credit risk, etc.); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 3 — prices determined using significant unobservable inputs when quoted prices or observable inputs are unavailable such as when there is little or no market activity for an asset or liability (unobservable inputs reflect the Fund's own assumptions in determining the fair value of assets or liabilities and would be based on the best information available).

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

The Fund's pricing policies have been approved by the Board of Trustees. Investments for which market quotations are readily available are categorized in Level 1. Other investments for which an independent pricing service is utilized are categorized in Level 2. Broker-dealer bid prices for which the Fund has knowledge of the inputs used by the broker-dealer are categorized in Level 2. All other investments, including broker-dealer bid prices for which the Fund does not have knowledge of the inputs used by the broker-dealer, as well as investments fair valued by the valuation designee, are categorized in Level 3. All Level 2 and 3 securities are defined as being fair valued.

Under certain conditions and based upon specific facts and circumstances, the Fund's valuation designee may determine that a fair valuation should be made for portfolio investment(s). These valuation designee fair valuations will be based upon a significant amount of Level 3 inputs.

13 \|

------

Notes to Financial Statements (continued)

January 31, 2026

The following is a summary of the inputs used to value the Fund's investments as of January 31, 2026, at value:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Asset Valuation Inputs** | **Asset Valuation Inputs** | **Asset Valuation Inputs** | **Asset Valuation Inputs** | **Asset Valuation Inputs** |
| Description | Level 1 | Level 2 | Level 3 | Total |
| Common Stocks |  |  |  |  |
| Australia | &nbsp;&nbsp; $— | &nbsp;&nbsp; $2211013 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $2211013 |
| Belgium | &nbsp;&nbsp; — | &nbsp;&nbsp; 111843 | &nbsp;&nbsp; — | &nbsp;&nbsp; 111843 |
| France | &nbsp;&nbsp; — | &nbsp;&nbsp; 777931 | &nbsp;&nbsp; — | &nbsp;&nbsp; 777931 |
| Germany | &nbsp;&nbsp; — | &nbsp;&nbsp; 814418 | &nbsp;&nbsp; — | &nbsp;&nbsp; 814418 |
| Hong Kong | &nbsp;&nbsp; — | &nbsp;&nbsp; 1197422 | &nbsp;&nbsp; — | &nbsp;&nbsp; 1197422 |
| Japan | &nbsp;&nbsp; 140583 | &nbsp;&nbsp; 2883747 | &nbsp;&nbsp; — | &nbsp;&nbsp; 3024330 |
| Netherlands | &nbsp;&nbsp; — | &nbsp;&nbsp; 237296 | &nbsp;&nbsp; — | &nbsp;&nbsp; 237296 |
| Singapore | &nbsp;&nbsp; — | &nbsp;&nbsp; 794931 | &nbsp;&nbsp; — | &nbsp;&nbsp; 794931 |
| Spain | &nbsp;&nbsp; — | &nbsp;&nbsp; 294375 | &nbsp;&nbsp; — | &nbsp;&nbsp; 294375 |
| Sweden | &nbsp;&nbsp; 166037 | &nbsp;&nbsp; 409239 | &nbsp;&nbsp; — | &nbsp;&nbsp; 575276 |
| Switzerland | &nbsp;&nbsp; — | &nbsp;&nbsp; 311030 | &nbsp;&nbsp; — | &nbsp;&nbsp; 311030 |
| United Kingdom | &nbsp;&nbsp; 202451 | &nbsp;&nbsp; 1316401 | &nbsp;&nbsp; — | &nbsp;&nbsp; 1518852 |
| All Other Common Stocks(a) | &nbsp;&nbsp; 22796459 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 22796459 |
| Total Common Stocks | &nbsp;&nbsp; 23305530 | &nbsp;&nbsp; 11359646 | &nbsp;&nbsp; — | &nbsp;&nbsp; 34665176 |
| Short-Term Investments | &nbsp;&nbsp; — | &nbsp;&nbsp; 665189 | &nbsp;&nbsp; — | &nbsp;&nbsp; 665189 |
| Total Investments | &nbsp;&nbsp; $23305530 | &nbsp;&nbsp; $12024835 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $35330365 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) Details of the major categories of the Fund's investments are reflected within the Portfolio of Investments.

**4. Purchases and Sales of Securities.** For the year ended January 31, 2026, purchases and sales of securities (excluding short-term investments) were $22,252,238 and $24,778,709, respectively.

**5. Management Fees and Other Transactions with Affiliates.** 

**a. Management Fees.** AEW Capital Management, L.P. ("AEW") serves as the investment adviser to the Fund. AEW is a wholly-owned subsidiary of Natixis Investment Managers, LLC, which is part of Natixis Investment Managers, an international asset management group based in Paris, France. Under the terms of the management agreement, the Fund pays a management fee at the annual rate of 0.75%, calculated daily and payable monthly, based on the Fund's average daily net assets.

AEW has given a binding undertaking to the Fund to waive management fees and/or reimburse certain expenses to limit the Fund's operating expenses, exclusive of acquired fund fees and expenses, brokerage expenses, interest expense, taxes, organizational and extraordinary expenses such as litigation and indemnification expenses. This undertaking is in effect until May 31, 2026, may be terminated before then only with the consent of the Fund's Board of Trustees, and is reevaluated on an annual basis. Management fees payable, as reflected on the Statement of Assets and Liabilities, is net of waivers and/or expense reimbursements, if any, pursuant to these undertakings. Waivers/reimbursements that exceed management fees payable are reflected on the Statement of Assets and Liabilities as receivable from investment adviser.

For the year ended January 31, 2026, the expense limits as a percentage of average daily net assets under the expense limitation agreement were as follows:

---

| | | | |
|:---|:---|:---|:---|
| Expense Limit as a Percentage of Average Daily Net Assets | Expense Limit as a Percentage of Average Daily Net Assets | Expense Limit as a Percentage of Average Daily Net Assets | Expense Limit as a Percentage of Average Daily Net Assets |
| Class A | Class C | Class N | Class Y |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.15<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.90<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.85<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.90<br> %<br>|

---

AEW shall be permitted to recover expenses borne under the expense limitation agreement (whether through waiver of management fees or otherwise) on a class by class basis in later periods to the extent the annual operating expenses of a class fall below both (1) a class' expense limitation ratio in place at the time such amounts were waived/reimbursed and (2) a class' current applicable expense limitation ratio, provided, however, that a class is not obligated to pay such waived/reimbursed fees or expenses more than one year after the end of the fiscal year in which the fees or expenses were waived/reimbursed.

\| 14

------

Notes to Financial Statements (continued)

January 31, 2026

For the year ended January 31, 2026, the management fees and waiver of management fees for the Fund were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gross <br>Management <br>Fees | &nbsp;&nbsp;&nbsp; Contractual <br>Waivers of <br>Management <br>Fees<sup>1</sup>  | &nbsp;&nbsp;&nbsp; Net <br>Management <br>Fees | &nbsp;&nbsp;&nbsp; Percentage of <br>Average <br>Daily Net Assets | &nbsp;&nbsp;&nbsp; Percentage of <br>Average <br>Daily Net Assets |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gross <br>Management <br>Fees | &nbsp;&nbsp;&nbsp; Contractual <br>Waivers of <br>Management <br>Fees<sup>1</sup>  | &nbsp;&nbsp;&nbsp; Net <br>Management <br>Fees | Gross | Net |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $261980 | &nbsp;&nbsp;&nbsp; $261980 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; 0.75<br> %<br>| &nbsp;&nbsp;&nbsp; —<br> %<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>1</sup> Management fee waiver is subject to possible recovery until January 31, 2027.

In addition, AEW reimbursed non-class specific expenses in the amount of $48,695, for the year ended January 31, 2026, which is subject to possible recovery until January 31, 2027.

No expenses were recovered during the year ended January 31, 2026, under the terms of the expense limitation agreement.

**b. Service and Distribution Fees.** Natixis Distribution, LLC ("Natixis Distribution"), which is a wholly-owned subsidiary of Natixis Investment Managers, LLC, has entered into a distribution agreement with the Trust. Pursuant to this agreement, Natixis Distribution serves as principal underwriter of the Fund.

Pursuant to Rule 12b-1 under the 1940 Act, the Trust has adopted a Service Plan relating to the Fund's Class A shares (the "Class A Plan") and a Distribution and Service Plan relating to the Fund's Class C shares (the "Class C Plan").

Under the Class A Plan, the Fund pays Natixis Distribution a monthly service fee at an annual rate not to exceed 0.25% of the average daily net assets attributable to the Fund's Class A shares, as reimbursement for expenses incurred by Natixis Distribution in providing personal services to investors in Class A shares and/or the maintenance of shareholder accounts.

Under the Class C Plan, the Fund pays Natixis Distribution a monthly service fee at an annual rate not to exceed 0.25% of the average daily net assets attributable to the Fund's Class C shares, as compensation for services provided by Natixis Distribution in providing personal services to investors in Class C shares and/or the maintenance of shareholder accounts.

Also under the Class C Plan, the Fund pays Natixis Distribution a monthly distribution fee at the annual rate of 0.75% of the average daily net assets attributable to the Fund's Class C shares, as compensation for services provided by Natixis Distribution in connection with the marketing or sale of Class C shares.

For the year ended January 31, 2026, the service and distribution fees for the Fund were as follows:

---

| | | |
|:---|:---|:---|
| Service Fees | Service Fees | Distribution Fees |
| Class A | Class C | Class C |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $31341 | &nbsp;&nbsp;&nbsp; $326 | &nbsp;&nbsp;&nbsp; $979 |

---

**c. Administrative Fees.** Natixis Advisors, LLC ("Natixis Advisors") provides certain administrative services for the Fund and contracts with State Street Bank and Trust Company ("State Street Bank") to serve as sub-administrator. Natixis Advisors is a wholly-owned subsidiary of Natixis Investment Managers, LLC. Pursuant to an agreement among Natixis Funds Trusts, Loomis Sayles Funds Trusts, Natixis ETF Trusts and Natixis Advisors, the Fund pays Natixis Advisors monthly its *pro rata* portion of fees equal to an annual rate of 0.0540% of the first $15 billion of the average daily net assets of the Natixis Funds Trusts, Loomis Sayles Funds Trusts and Natixis ETF Trusts, 0.0500% of the next $15 billion, 0.0400% of the next $30 billion, 0.0275% of the next $30 billion and 0.0225% of such assets in excess of $90 billion, subject to an annual aggregate minimum fee for the Natixis Funds Trusts, Loomis Sayles Funds Trusts and Natixis ETF Trusts of $10 million, which is reevaluated on an annual basis.

For the year ended January 31, 2026, the administrative fees were as follows:

---

| |
|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Administrative <br>Fees<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $14935 |

---

**d. Sub-Transfer Agent Fees.** Natixis Distribution has entered into agreements, which include servicing agreements, with financial intermediaries that provide recordkeeping, processing, shareholder communications and other services to customers of the intermediaries that hold positions in the Fund and has agreed to compensate the intermediaries for providing those services. Intermediaries transact with the Fund primarily through the use of omnibus accounts on behalf of their customers who hold positions in the Fund. These services would have been provided by the Fund's transfer agent and other service providers if the shareholders'

15 \|

------

Notes to Financial Statements (continued)

January 31, 2026

accounts were maintained directly at the Fund's transfer agent. Accordingly, the Fund has agreed to reimburse Natixis Distribution for all or a portion of the servicing fees paid to these intermediaries. The reimbursement amounts (sub-transfer agent fees) paid to Natixis Distribution are subject to a sub-transfer agent fee limit approved by the Fund's Board of Trustees, which is based on fees for similar services paid to the Fund's transfer agent and other service providers. Class N shares do not bear such expenses.

For the year ended January 31, 2026, the sub-transfer agent fees (which are reflected in transfer agent fees and expenses in the Statement of Operations) for the Fund were $37,409.

As of January 31, 2026, the Fund owes Natixis Distribution $129 for overpayments of sub-transfer agent fees (which are reflected in the Statement of Assets and Liabilities as receivable from distributor).

Sub-transfer agent fees attributable to Class A, Class C and Class Y are allocated on a *pro rata* basis to each class based on the relative net assets of each class to the total net assets of those classes.

**e. Commissions.** Commissions (including CDSCs) on Fund shares retained by Natixis Distribution during the year ended January 31, 2026 amounted to $299.

**f. Trustees Fees and Expenses.** The Trust does not pay any compensation directly to its officers or Trustees who are directors, officers or employees of Natixis Advisors, Natixis Distribution, Natixis Investment Managers, LLC or their affiliates. The Chairperson of the Board of Trustees receives a retainer fee at the annual rate of $410,000. The Chairperson does not receive any meeting attendance fees for Board of Trustees meetings or committee meetings that he attends. Each Independent Trustee (other than the Chairperson) receives, in the aggregate, a retainer fee at the annual rate of $235,000. Each Independent Trustee also receives a meeting attendance fee of $10,000 for each meeting of the Board of Trustees that he or she attends in person and $5,000 for each meeting of the Board of Trustees that he or she attends telephonically. In addition, the Chairperson of the Contract Review Committee and the Chairperson of the Audit Committee each receive an additional retainer fee at the annual rate of $30,000. The Chairperson of the Governance Committee receives an additional retainer fee at the annual rate of $20,000. Each Contract Review Committee member is compensated $6,000 for each Committee meeting that he or she attends in person and $3,000 for each meeting that he or she attends telephonically. Each Audit Committee member is compensated $6,000 for each Committee meeting that he or she attends in person and $3,000 for each meeting that he or she attends telephonically. Each Governance Committee member is compensated $2,500 for each Committee meeting that he or she attends. These fees are allocated among the funds in the Natixis Funds Trusts, Loomis Sayles Funds Trusts and Natixis ETF Trusts based on a formula that takes into account, among other factors, the relative net assets of each fund. Trustees are reimbursed for travel expenses in connection with attendance at meetings.

A deferred compensation plan (the "Plan") is available to the Trustees on a voluntary basis. The value of a participating Trustee's deferral account is based on theoretical investments of deferred amounts, on the normal payment dates, in certain funds of the Natixis Funds Trusts, Loomis Sayles Funds Trusts and Natixis ETF Trusts as designated by the participating Trustees. Changes in the value of participants' deferral accounts are allocated *pro rata* among the funds in the Natixis Funds Trusts, Loomis Sayles Funds Trusts and Natixis ETF Trusts and are normally reflected as Trustees' fees and expenses in the Statement of Operations. Deferred amounts remain in the funds until distributed in accordance with the provisions of the Plan. The portions of the accrued obligations allocated to the Fund under the Plan are reflected as Deferred Trustees' fees in the Statement of Assets and Liabilities.

Certain officers and employees of Natixis Advisors and its affiliates are also officers and/or Trustees of the Trust.

**g. Reimbursement of Transfer Agent Fees and Expenses.** Natixis Advisors has given a binding contractual undertaking to the Fund to reimburse any and all transfer agency expenses for the Fund's Class N shares. This undertaking is in effect through May 31, 2026 and is not subject to recovery under the expense limitation agreement described above.

For the year ended January 31, 2026, Natixis Advisors reimbursed the Fund $1,060 for transfer agency expenses related to Class N shares.

**6. Class-Specific Transfer Agent Fees and Expenses.** Transfer agent fees and expenses attributable to Class A, Class C and Class Y are allocated on a *pro rata* basis to each class based on the relative net assets of each class to the total net assets of those classes. Transfer agent fees and expenses attributable to Class N are allocated to Class N.

For the year ended January 31, 2026, the Fund incurred the following class-specific transfer agent fees and expenses (net of expense offsets and including sub-transfer agent fees, where applicable):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Class A | Class C | Class N | Class Y |
| Transfer Agent Fees and Expenses | &nbsp;&nbsp; $21534 | &nbsp;&nbsp; $225 | &nbsp;&nbsp; $1060 | &nbsp;&nbsp; $33234 |

---

\| 16

------

Notes to Financial Statements (continued)

January 31, 2026

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**7. Expense Offset Arrangements.** The Fund has entered into an agreement with the transfer agent whereby certain transfer agent fees and expenses may be paid indirectly by credits earned on the Fund's cash balances. Transfer agent fees and expenses are presented in the Statement of Operations gross of such credits, and the credits are presented as offsets to expenses.

**8. Line of Credit.** The Fund, together with certain other funds of Natixis Funds Trusts, Loomis Sayles Funds Trusts and Natixis ETF Trusts, entered into a syndicated, revolving, committed, unsecured line of credit with State Street Bank as administrative agent. The aggregate revolving commitment amount is $575,000,000. Any one Fund may borrow up to $402,500,000 under the line of credit agreement (as long as all borrowings by all Funds in the aggregate do not exceed the $575,000,000 limit at any time), subject to each Fund's investment restrictions and its contractual obligations under the line of credit. Interest is charged to the Funds based upon the terms set forth in the agreement. In addition, a commitment fee of 0.15% per annum, payable at the end of each calendar quarter, is accrued and apportioned among the participating funds based on their average daily unused portion of the line of credit.

For the year ended January 31, 2026, the Fund had no borrowings under this agreement.

**9. Risk.** The Fund concentrates its investments in real estate securities, including REITs. A fund with a concentrated portfolio is vulnerable to the risks of the industry in which it invests and is subject to greater risks and market fluctuations than funds investing in a broader range of industries. Real estate securities are susceptible to the risks associated with direct ownership of real estate such as declining property values, increases in property taxes, operating expenses, interest rates or competition, zoning changes and losses from casualty and condemnation.

The Fund's investments in foreign securities may be subject to greater political, economic, environmental, credit/counterparty and information risks. The Fund's investments in foreign securities also are subject to foreign currency fluctuations and other foreign currency-related risks. Foreign securities may be subject to higher volatility than U.S. securities, varying degrees of regulation and limited liquidity.

Geopolitical events (such as trading halts, sanctions or wars) could increase volatility and uncertainty in the financial markets and adversely affect regional and global economies. These, and other related events, could significantly impact a Fund's performance and the value of an investment in the Fund, even if the Fund does not have direct exposure to issuers in the country or countries involved.

**10. Concentration of Ownership.** From time to time, a Fund may have a concentration of one or more shareholder accounts constituting a significant percentage of shares outstanding. Investment activities by holders of accounts that represent a significant ownership of more than 5% of a Fund's outstanding shares could have material impacts on a Fund. As of January 31, 2026, the number of such accounts and the aggregate percentage of net assets represented by such holdings were as follows:

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Number of 5% <br>Account Holders<br>| &nbsp;&nbsp;&nbsp; Percentage of <br>Ownership<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 11.87<br> %<br>|

---

Omnibus shareholder accounts, maintained by a single intermediary on behalf of multiple underlying shareholders, are not included in the table above. As such, there could be other 5% shareholders in addition to those disclosed in the table above.

17 \|

------

Notes to Financial Statements (continued)

January 31, 2026

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**11. Capital Shares**. The Fund may issue an unlimited number of shares of beneficial interest, without par value. Transactions in capital shares were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Year Ended** <br>**January 31, 2026** | **Year Ended** <br>**January 31, 2026** | **Year Ended** <br>**January 31, 2025** | **Year Ended** <br>**January 31, 2025** |
|  | **Shares** | **Amount** | **Shares** | **Amount** |
| **Class A** |  |  |  |  |
| Issued from the sale of shares | &nbsp;&nbsp; 55177 | &nbsp;&nbsp; $683385 | &nbsp;&nbsp; 88434 | &nbsp;&nbsp; $1082545 |
| Issued in connection with the reinvestment of distributions | &nbsp;&nbsp; 26586 | &nbsp;&nbsp; 333836 | &nbsp;&nbsp; 40672 | &nbsp;&nbsp; 488193 |
| Redeemed | &nbsp;&nbsp; (200290)<br>| &nbsp;&nbsp; (2514460)<br>| &nbsp;&nbsp; (275548)<br>| &nbsp;&nbsp; (3421299)<br>|
| Net change | &nbsp;&nbsp; (118527)<br>| &nbsp;&nbsp; $(1497239)<br>| &nbsp;&nbsp; (146442)<br>| &nbsp;&nbsp; $(1850561)<br>|
| **Class C** |  |  |  |  |
| Issued from the sale of shares | &nbsp;&nbsp; 271 | &nbsp;&nbsp; $3406 | &nbsp;&nbsp; 540 | &nbsp;&nbsp; $6636 |
| Issued in connection with the reinvestment of distributions | &nbsp;&nbsp; 195 | &nbsp;&nbsp; 2461 | &nbsp;&nbsp; 388 | &nbsp;&nbsp; 4684 |
| Redeemed | &nbsp;&nbsp; (3923)<br>| &nbsp;&nbsp; (50275)<br>| &nbsp;&nbsp; (5123)<br>| &nbsp;&nbsp; (61162)<br>|
| Net change | &nbsp;&nbsp; (3457)<br>| &nbsp;&nbsp; $(44408)<br>| &nbsp;&nbsp; (4195)<br>| &nbsp;&nbsp; $(49842)<br>|
| **Class N** |  |  |  |  |
| Issued from the sale of shares | &nbsp;&nbsp; 62197 | &nbsp;&nbsp; $692103 | &nbsp;&nbsp; 66349 | &nbsp;&nbsp; $718553 |
| Issued in connection with the reinvestment of distributions | &nbsp;&nbsp; 9259 | &nbsp;&nbsp; 103633 | &nbsp;&nbsp; 12625 | &nbsp;&nbsp; 135425 |
| Redeemed | &nbsp;&nbsp; (64784)<br>| &nbsp;&nbsp; (727029)<br>| &nbsp;&nbsp; (168089)<br>| &nbsp;&nbsp; (1804593)<br>|
| Net change | &nbsp;&nbsp; 6672 | &nbsp;&nbsp; $68707 | &nbsp;&nbsp; (89115)<br>| &nbsp;&nbsp; $(950615)<br>|
| **Class Y** |  |  |  |  |
| Issued from the sale of shares | &nbsp;&nbsp; 447820 | &nbsp;&nbsp; $5068600 | &nbsp;&nbsp; 315772 | &nbsp;&nbsp; $3443201 |
| Issued in connection with the reinvestment of distributions | &nbsp;&nbsp; 58395 | &nbsp;&nbsp; 652054 | &nbsp;&nbsp; 77605 | &nbsp;&nbsp; 831720 |
| Redeemed | &nbsp;&nbsp; (628025)<br>| &nbsp;&nbsp; (7048038)<br>| &nbsp;&nbsp; (2263322)<br>| &nbsp;&nbsp; (24083440)<br>|
| Net change | &nbsp;&nbsp; (121810)<br>| &nbsp;&nbsp; $(1327384)<br>| &nbsp;&nbsp; (1869945)<br>| &nbsp;&nbsp; $(19808519)<br>|
| Decrease from capital share transactions | &nbsp;&nbsp; (237122)<br>| &nbsp;&nbsp; $(2800324)<br>| &nbsp;&nbsp; (2109697)<br>| &nbsp;&nbsp; $(22659537)<br>|

---

\| 18

------

Report of Independent Registered Public Accounting Firm

To the Board of Trustees of Natixis Funds Trust IV and Shareholders of AEW Global Focused Real Estate Fund

***Opinion on the Financial Statements***

We have audited the accompanying statement of assets and liabilities, including the portfolio of investments, of AEW Global Focused Real Estate Fund (the "Fund") as of January 31, 2026, the related statement of operations for the year ended January 31, 2026, the statement of changes in net assets for each of the two years in the period ended January 31, 2026, including the related notes, and the financial highlights for each of the five years in the period ended January 31, 2026 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund as of January 31, 2026, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended January 31, 2026 and the financial highlights for each of the five years in the period ended January 31, 2026 in conformity with accounting principles generally accepted in the United States of America.

***Basis for Opinion***

These financial statements are the responsibility of the Fund's management. Our responsibility is to express an opinion on the Fund's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Fund in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of January 31, 2026 by correspondence with the custodian and broker. We believe that our audits provide a reasonable basis for our opinion.

/s/PricewaterhouseCoopers LLP

Boston, Massachusetts

March 23, 2026

We have served as the auditor of one or more of the investment companies in the Natixis Investment Company Complex since at least 1995. We have not been able to determine the specific year we began serving as auditor.

19 \|

------

2026 U.S. Tax Distribution Information to Shareholders (Unaudited)

**Qualified Dividend Income.** For the fiscal year ended January 31, 2026, 23.78% of the ordinary income dividends paid by the Fund are considered qualified dividend income eligible for reduced tax rates. These lower rates range from 0% to 20% depending on an individual's tax bracket. Complete information will be reported in conjunction with Form 1099-DIV.

**Qualified Business Income Deduction.** For the fiscal year ended January 31, 2026, 48.37% of the ordinary income dividends paid by the Fund are eligible for the Qualified Business Income deduction.

\| 20

------

![](g28755img306156f41.gif)

˃To learn more about Natixis Funds products and services:

Visit: im.natixis.com Call: 800-225-5478

**Before investing, consider the fund's investment objectives, risks, charges, and expenses. Visit im.natixis.com or call 800-225-5478 for a prospectus or summary prospectus containing this and other information.**

Contact us by mail:

If you wish to communicate with the funds' Board of Trustees, you may do so by writing to:

Secretary of the Funds

Natixis Advisors, LLC

888 Boylston Street, Suite 800

Boston, MA 02199-8197

The correspondence must (a) be signed by the shareholder; (b) include the shareholder's name and address; and (c) identify the fund(s), account number, share class, and number of shares held in that fund, as of a recent date.

Or by e-mail:

secretaryofthefunds@natixis.com (Communications regarding recommendations for Trustee candidates may not be submitted by e-mail.)

**Please note:** Unlike written correspondence, e-mail is not secure. Please do NOT include your account number, Social Security number, PIN, or any other non-public personal information in an e-mail communication because this information may be viewed by others.

![](g28755img01a7ce873.gif)

Exp. 3/31/27

RE58A-0126

This page is not part of the financial statements and other important information

------

#### Item 8. Changes in and Disagreements with Accountants for Open-End Management Investment Companies
Not applicable.

#### Item 9. Proxy Disclosures for Open-End Management Investment Companies.
Not applicable.

#### Item 10. Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies.
The remuneration paid to Directors and Officers are incorporated by reference as part of the Financial Statements and Other Important Information for Open-End Management Investment Companies filed as Item 7 herewith.

#### Item 11. Statement Regarding Basis for Approval of Investment Advisory Contract.
Not applicable for the current reporting period due to the timing of the Board's approval of these agreements.

**Item 12. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment** Companies.

Not applicable.

#### Item 13. Portfolio Managers of Closed-End Management Investment Companies.
Not applicable.

#### Item 14. Purchases of Equity Securities by Closed-End Management Investment Companies and Affiliated Purchasers.
Not applicable.

#### Item 15. Submission of Matters to a Vote of Securities Holders.
There were no material changes to the procedures by which shareholders may recommend nominees to the Registrant's Board of Trustees.

#### Item 16. Controls and Procedures.
(a) The Registrant's principal executive officer and principal financial officer have concluded that the Registrant's disclosure controls and procedures are sufficient to ensure that information required to be disclosed by the Registrant in this Form N-CSR was recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission's rules and forms, based upon such officers' evaluation of these controls and procedures as of a date within 90 days of the filing date of the report.

(b) There were no changes in the Registrant's internal control over financial reporting that occurred during the period covered by the report that have materially affected, or is reasonably likely to materially affect, the Registrant's internal control over financial reporting.

------

#### Item 17. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.
Not applicable.

#### Item 18. Recovery of Erroneously Awarded Compensation.
Not applicable.

#### Item 19. Exhibits.

---

| | |
|:---|:---|
| (a) (1) | [Any code of ethics, or amendment thereto, that is the subject of the disclosure required by Item 2, to the extent that the registrant intends to satisfy the Item 2 requirements through filing of an exhibit is filed herewith.](d28755dex99codeeth.htm) |
| (a) (2) | Any policy required by the listing standards adopted pursuant to Rule 10D-1 under the Exchange Act by the registered national securities exchange or registered national securities association upon which the registrants securities are listed. Not Applicable. |
| (a) (3) | [A separate certification for each principal executive and principal financial officer of the registrant as required by Rule 30a-2(a) under the Act (17 CFR 270.30a-2(a)) is filed herewith.](d28755dex99cert.htm) |
| (a) (3)(1) | Any written solicitation to purchase securities under Rule 23c-1 under the Act (17 CFR 270.23c-1) sent or given during the period covered by the report by or on behalf of the registrant to 10 or more persons. Not Applicable |
| (a) (3)(2) | Changes in the registrant's independent public accountant. Not Applicable |
| (b) | [Certifications required by Rule 30a-2(b) under the Act (17 CFR 270.30a-2(b)), Rule 13a-14(b) or Rule 15d-14(b) under the Exchange Act (17 CFR 240.13a-14(b) or 240.15d-14(b)), and Section 1350 of Chapter 63 of Title 18 of the United States Code (18 U.S.C. 1350) is filed herewith.](d28755dex99906cert.htm) |
| (101) | Inline Interactive Data File-the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the inline XBRL document. |

---

------

#### SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

---

| | |
|:---|:---|
| Natixis Funds Trust IV | Natixis Funds Trust IV |
| By: <u>/s/ David L. Giunta</u> | By: <u>/s/ David L. Giunta</u> |
| Name: | David L. Giunta |
| Title: | President and Chief Executive Officer |
| Date: | March 23, 2026 |

---

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.

---

| | |
|:---|:---|
| By: <u>/s/ David L. Giunta</u> | By: <u>/s/ David L. Giunta</u> |
| Name: | David L. Giunta |
| Title: | President and Chief Executive Officer |
| Date: | March 23, 2026 |
| By: <u>/s/ Matthew J. Block</u> | By: <u>/s/ Matthew J. Block</u> |
| Name: | Matthew J. Block |
| Title: | Treasurer and Principal Financial and<br> Accounting Officer |
| Date: | March 23, 2026 |

---

## Ex-99.Code

**Exhibit (a)(1)** 

**NATIXIS FUNDS TRUST I** 

**NATIXIS FUNDS TRUST II** 

**NATIXIS FUNDS TRUST IV** 

**LOOMIS SAYLES FUNDS I** 

**LOOMIS SAYLES FUNDS II** 

**GATEWAY TRUST** 

**NATIXIS ETF TRUST** 

**NATIXIS ETF TRUST II** 

**CODE OF ETHICS PURSUANT TO SECTION 406 OF THE SARBANES-OXLEY** 

**ACT OF 2002 FOR PRINCIPAL EXECUTIVE AND SENIOR FINANCIAL OFFICERS** 

**I.** **Covered Persons/Purpose of the Code** 

This Code of Ethics (this "Code") pursuant to Section 406 of the Sarbanes-Oxley Act of 2002 has been adopted by the registered investment companies (each a "Fund" and, collectively, the "Funds") listed on Exhibit A and applies to each Fund's Principal Executive Officer, Principal Financial Officer and Principal Accounting Officer (the "Covered Persons," all covered persons are set forth in Exhibit B) for the purpose of promoting:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Honest and ethical conduct, including the ethical handling of actual or apparent conflicts of interest between
personal and professional relationships;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Full, fair, accurate, timely, and understandable disclosure in reports and documents that a registrant files
with, or submits to, the Securities and Exchange Commission (the "SEC") and in other public communications made by the registrant

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Compliance with applicable governmental laws, rules and regulations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The prompt internal reporting of violations of the Code to an appropriate person or persons identified in the
Code of violations of the Code; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Accountability for adherence to the Code.

Each Covered Person should adhere to a high standard of business ethics and should be sensitive to situations that may give rise to conflicts of interest.

------

**II.** **Covered Persons Should Handle Ethically Actual and Apparent Conflicts of Interest** 

**Overview.** A "conflict of interest" occurs when a Covered Person's private interest interferes with the interests of, or his service to, the Fund. For example, a conflict of interest would arise if a Covered Person's, or a member of the Covered Person's family or household, receives improper personal benefits as a result of the Covered Person's position with the Fund.

Certain conflicts of interest arise out of the relationships between Covered Persons and the Fund and already are subject to conflict of interest provisions in the Investment Company Act of 1940 (including the regulations thereunder, the "1940 Act") and the Investment Advisers Act of 1940 (including the regulations thereunder, the "Investment Advisers Act"). For example, Covered Persons may not engage in certain transactions with the Fund because of their status as "affiliated persons" of the Fund. The Funds and their investment advisers; subadvisers; distributors and administrators (each a "Service Provider" and, collectively, the "Service Providers") compliance programs and procedures are designed to prevent, or identify and correct, violations of these provisions. This Code does not, and is not intended to, repeat or replace these programs and procedures, and such conflicts fall outside of the parameters of this Code. See also Section V of this code.

Although typically not presenting an opportunity for improper personal benefit, conflicts may arise from, or as a result of, the contractual relationship between the Funds and their Service Providers of which the Covered Persons are also officers or employees. As a result, this Code recognizes that the Covered Persons will, in the normal course of their duties (whether for the Funds or for a Service Provider, or for each), be involved in establishing policies and implementing decisions that will have different effects on the Service Providers and the Funds. The participation of the Covered Persons in such activities is inherent in the contractual relationships between the Funds and their Service Providers and is consistent with the performance by the Covered Persons of their duties as officers of the Funds. Thus, if performed in conformity with the provisions of the 1940 Act and the Investment Advisers Act, such activities will be deemed to have been handled ethically. In addition, it is recognized by the Funds' Boards of Trustees ("Boards") that the Covered Persons may also be officers or employees of one or more other investment companies covered by this or other codes and that such service, by itself, does not give rise to a conflict of interest.

Other conflicts of interest are covered by the Code, even if such conflicts of interest are not the subject of provisions of the 1940 Act and the Investment Advisers Act. The following list provides examples of conflicts of interest under the Code, but Covered Persons should keep in mind that these examples are not exhaustive. The overarching principle is that the personal interest of a Covered Person should not be placed improperly before the interest of a Fund.

------

Each Covered Person must not:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• use his/her personal influence or personal relationships improperly to influence investment decisions or
financial reporting by a Fund whereby the Covered Person would benefit personally to the detriment of the Fund;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• cause a Fund to take action, or fail to take action, for the individual personal benefit of the Covered Person
rather than the benefit the Fund; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• retaliate against any other Covered Person or any employee of the Funds or their Service Providers for reports
of potential violations that are made in good faith.

There are some conflict of interest situations that should always be approved by the Chief Legal Officer ("CLO") of the Fund (or, with respect to activities of the CLO if he/she is a Covered Person, by the President). These conflict of interest situations are listed below:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• service on the board of directors or governing board of a publicly traded entity;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• acceptance of any investment opportunity, gift, gratuity or other thing of more than nominal value from any
person or entity that does business, or desires to do business, with the Fund. This restriction shall not apply to (i) gifts from a single giver so long as their aggregate annual value does not exceed the equivalent of $100 or
(ii) attending business meals, business related conferences, sporting events and other entertainment events at the expense of a giver, so long as the expense is reasonable;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• any ownership interest in, or any consulting relationship with, any entities doing business with a Fund, other
than a Service Provider or an affiliate of a Service Provider. This restriction shall not apply to or otherwise limit the ownership of publicly traded securities so long as the Covered Person's ownership does not exceed more than 2% of the
outstanding securities of the relevant class; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• a direct or indirect financial interest in commissions, transaction charges or spreads paid by a Fund for
effecting portfolio transactions or for selling or redeeming shares other than an interest arising from the Covered Person's employment with a Service Provider or its affiliate. This restriction shall not apply to or otherwise limit
(i) the ownership of publicly traded securities so long as the Covered Person's ownership does not exceed more than 2% of the particular class of security outstanding or (ii) the receipt by the Service Provider of research or other
benefits in exchange for "soft dollars".

------

**III.** **Disclosure and Compliance** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Each Covered Person should familiarize himself with the disclosure requirements generally applicable to a
Fund;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Each Covered Person should not knowingly misrepresent, or cause others to misrepresent, facts about a Fund to
others, whether within or outside the Fund, including to the Fund's Board and auditors, and to governmental regulators and self-regulatory organizations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Each Covered Person should, to the extent appropriate within his/her area of responsibility, consult with
other officers and employees of the Funds and the adviser with the goal of promoting full, fair, accurate, timely and understandable disclosure in the reports and documents the Funds file with, or submit to, the SEC and in other public
communications made by the Funds; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• It is the responsibility of each Covered Person to promote compliance with the standards and restrictions
imposed by applicable laws, rules and regulations.

**IV.** **Reporting and Accountability** 

Each Covered Person must:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• upon adoption of the Code (or thereafter as applicable, upon becoming a Covered Person), affirm in writing to
the Funds that he/she has received, read, and understands the Code;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• annually thereafter affirm to the Funds that he/she has complied with the requirements of the Code; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• notify the CLO of the Funds promptly if he/she knows of any violation of this Code (with respect to violations
by the CLO if he/she is a Covered Person, the Covered Person shall report to the President). Failure to do so is itself a violation of this Code.

The CLO of a Fund is responsible for applying this Code to specific situations in which questions are presented under it and has the authority to interpret this Code in any particular situation. However, any approvals or waivers other than those this Code states can be granted by the CLO, sought by the CLO or Covered Person will be considered by the relevant Fund's Audit Committee (the "Committee").

The Funds will follow these procedures in investigating and enforcing this Code:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the CLO will take all appropriate action to investigate any potential violations reported, which may include
the use of internal or external counsel, accountants or other personnel;

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• if, after such investigation, the CLO believes that no violation has occurred, the CLO is not required to take
any further action;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• any matter that the CLO believes is a violation will be reported to the Committee;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• if the Committee concurs that a violation has occurred, it will inform and make a recommendation to the Board,
which will consider appropriate action, which may include review of, and appropriate modifications to, applicable policies and procedures; notification to appropriate personnel of the investment adviser or its board; or a recommendation to dismiss
the Covered Person;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the Committee will be authorized to grant waivers, as it deems appropriate; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• any changes to or waivers of this Code will, to the extent required, be disclosed as provided by SEC rules.

**V.** **Other Policies and Procedures** 

This Code shall be the sole code of ethics adopted by the Funds for purposes of Section 406 of the Sarbanes-Oxley Act and the rules and forms applicable to registered investment companies thereunder. Insofar as other policies or procedures of the Funds or the Funds' Service Providers govern or purport to govern the behavior or activities of the Covered Persons who are subject to this Code, they are superseded by this Code to the extent that they conflict with the provisions of this Code. The Funds and their Service Providers' codes of ethics under Rule 17j-1 under the 1940 Act and the Service Providers' more detailed compliance policies and procedures are separate requirements applying to the Covered Persons and others, and are not part of this Code.

**VI.** **Amendments** 

Any amendments to this Code with respect to a Fund, other than administrative amendments to Exhibits A and B, must be approved or ratified by a majority vote of the Fund's Board, including a majority of independent trustees.

**VII.** **Confidentiality** 

All reports and records prepared or maintained pursuant to this Code will be considered confidential and shall be maintained and protected accordingly. Except as otherwise required by law or this Code, such matters shall not be disclosed to anyone except as permitted by the Board.

------

**VIII.** **Internal Use** 

The Code is intended solely for the internal use by the Funds and does not constitute an admission, by or on behalf of any Fund, as to any fact, circumstance, or legal conclusion.

------

**Exhibit A** 

<u>Registered Investment Companies</u> 

Natixis Funds Trust I

Natixis Funds Trust II

Natixis Funds Trust IV

Natixis ETF Trust

Natixis ETF Trust II

Loomis Sayles Funds I

Loomis Sayles Funds II

Gateway Trust

------

**Exhibit B** 

<u>Persons Covered by this Code of Ethics</u> 

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Trust** | **Principal Executive <br>Officer** | **Principal Financial <br>Officer** | **Principal Accounting <br>Officer** |
| &nbsp;&nbsp;&nbsp;Natixis Funds<br>Trust I | David L. Giunta,<br> Trustee, President and Chief Executive Officer | Matthew J. Block,<br> Treasurer and Principal Financial and Accounting Officer | Matthew J. Block,<br> Treasurer and Principal Financial and Accounting Officer |
| &nbsp;&nbsp;&nbsp;Natixis Funds<br>Trust II | David L. Giunta,<br> Trustee, President and Chief Executive Officer | Matthew J. Block,<br> Treasurer and Principal Financial and Accounting Officer | Matthew J. Block,<br> Treasurer and Principal Financial and Accounting Officer |
| &nbsp;&nbsp;&nbsp;Natixis Funds<br>Trust IV | David L. Giunta,<br> Trustee, President and Chief Executive Officer | Matthew J. Block,<br> Treasurer and Principal Financial and Accounting Officer | Matthew J. Block,<br> Treasurer and Principal Financial and Accounting Officer |
| &nbsp;&nbsp;&nbsp;Natixis ETF<br>Trust | David L. Giunta,<br> Trustee, President and Chief Executive Officer | Matthew J. Block,<br> Treasurer and Principal Financial and Accounting Officer | Matthew J. Block,<br> Treasurer and Principal Financial and Accounting Officer |
| &nbsp;&nbsp;&nbsp;Natixis ETF<br>Trust II | David L. Giunta,<br> Trustee, President and Chief Executive Officer | Matthew J. Block,<br> Treasurer and Principal Financial and Accounting Officer | Matthew J. Block,<br> Treasurer and Principal Financial and Accounting Officer |
| &nbsp;&nbsp;&nbsp;Loomis Sayles Funds I | Kevin P. Charleston,<br> Trustee, President and Chief Executive Officer | Matthew J. Block,<br> Treasurer and Principal Financial and Accounting Officer | Matthew J. Block,<br> Treasurer and Principal Financial and Accounting Officer |
| &nbsp;&nbsp;&nbsp;Loomis Sayles Funds II | David L. Giunta,<br> Trustee, President and Chief Executive Officer | Matthew J. Block,<br> Treasurer and Principal Financial and Accounting Officer | Matthew J. Block,<br> Treasurer and Principal Financial and Accounting Officer |
| &nbsp;&nbsp;&nbsp;Gateway Trust | David L. Giunta,<br> Trustee, President and Chief Executive Officer | Matthew J. Block,<br> Treasurer and Principal Financial and Accounting Officer | Matthew J. Block,<br> Treasurer and Principal Financial and Accounting Officer |

---

## Ex-99.Cert

**Exhibit (a)(3)** 

**Natixis Funds Trust IV** 

**Exhibit to SEC Form N-CSR** 

**Section 302 Certification** 

I, David L. Giunta, certify that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. I have reviewed this report on Form N-CSR of Natixis Funds Trust IV;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state
a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Based on my knowledge, the financial statements, and other financial information included in this report,
fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the
periods presented in this report;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. The registrant's other certifying officer and I are responsible for establishing and maintaining
disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be
designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is
being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Designed such internal control over financial reporting, or caused such internal control over financial
reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting
principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in
this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. Disclosed in this report any change in the registrant's internal control over financial reporting that
occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. The registrant's other certifying officer and I have disclosed to the registrant's auditors and the
audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. All significant deficiencies and material weaknesses in the design or operation of internal control over
financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Any fraud, whether or not material, that involves management or other employees who have a significant role
in the registrant's internal control over financial reporting.

------

---

| | | |
|:---|:---|:---|
| Date: | March 23, 2026 |  |
|  |  | <u>/s/ David L. Giunta</u> |
|  |  | David L. Giunta |
|  |  | President and Chief Executive Officer |

---

------

**Exhibit (a)(3)** 

**Natixis Funds Trust IV** 

**Exhibit to SEC Form N-CSR** 

**Section 302 Certification** 

I, Matthew J. Block, certify that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. I have reviewed this report on Form N-CSR of Natixis Funds Trust IV ;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state
a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Based on my knowledge, the financial statements, and other financial information included in this report,
fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the
periods presented in this report;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. The registrant's other certifying officer and I are responsible for establishing and maintaining
disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be
designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is
being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Designed such internal control over financial reporting, or caused such internal control over financial
reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting
principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in
this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. Disclosed in this report any change in the registrant's internal control over financial reporting that
occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. The registrant's other certifying officer and I have disclosed to the registrant's auditors and the
audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. All significant deficiencies and material weaknesses in the design or operation of internal control over
financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Any fraud, whether or not material, that involves management or other employees who have a significant role
in the registrant's internal control over financial reporting.

------

---

| | | |
|:---|:---|:---|
| Date: | March 23, 2026 |  |
|  |  | <u>/s/ Matthew J. Block</u> |
|  |  | Matthew J. Block |
|  |  | Treasurer and Principal Financial and Accounting Officer |

---

## Exhibit 99.906

Exhibit (b)

**Natixis Funds Trust IV** 

**Section 906 Certification** 

In connection with the report on Form N-CSR for the period ended January 31, 2026 for the Registrant (the "Report"), the undersigned each hereby certifies to the best of his knowledge, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. the Report complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as applicable; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Registrant.

---

| | |
|:---|:---|
| By: | By: |
| President and Chief Executive Officer | Treasurer and Principal Financial and<br> Accounting Officer |
| Natixis Funds Trust IV | Natixis Funds Trust IV |
| <u>/s/ David L. Giunta</u> | <u>/s/ Matthew J. Block</u> |
| David L. Giunta | Matthew J. Block |
| Date: March 23, 2026 | Date: March 23, 2026 |

---

A signed original of this written statement required by Section 906, or other document authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement required by Section 906, has been provided to the Natixis Funds Trust IV, and will be retained by the Natixis Funds Trust IV and furnished to the Securities and Exchange Commission or its staff upon request.