Intended for professional clients as defined by the MiFID directive

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1 Intended for professional clients as defined by the MiFID directive New name for Seeyond Global Flexible Strategies... Seeyond Multi Asset Conservative Growth Fund On 16 February 2015, Seeyond Global Flexible Strategies changed its name to Seeyond Multi Asset Conservative Growth Fund. Moreover, its investment objective has been adapted to reflect its goal to generate consistent performance uncorrelated with financial markets. The fund aims to outperform the EONIA Capitalised index by at least 3.50% over a minimum investment horizon of three years (I share class). This is the opportunity for us to provide an overview of the fund s characteristics and performances. Seeyond Multi Asset Conservative Growth Fund: Seeyond Multi Asset Conservative Growth Fund is a multi-asset class allocation fund, managed according to a flexible process and aims to present a moderate profile. Its risk/return ratio has been stable and robust over a period of over 10 years. The fund benefits from investment constraints that allow significant exposure to different asset classes depending on investment opportunities: International equities: 0 to 50% (of which up to 20% exposure to emerging markets) Bonds: 0 to 100% (of which up to 20% exposure to emerging markets) Currencies (ex. Euro): 0 to 100% One main objective: consistent performance Source : Morningstar, Natixis AM, end of December Based on monthly data. Figures mentioned refer to previous years. Past performance does not guarantee future results. The performance indicated for the fund before its inception, for the period from September 30, 2003 to October 3, 2013 is based on the historic performance of Seeyond Flexible Moyen Terme, FCP collective investment fund under French law, registered with AMF, the financial market authority, and managed by the same management company using the same investment process. This performance has been adjusted to show the various charges applicable to the fund as accurately as possible.

2 In order to achieve its objective of positive and steady performance over the medium term, independently from the economic and financial environment, the fund uses an opportunistic approach to selecting markets that offer the most compelling prospects in terms of return. Each market and geographical zone is analysed independently with a "bottom-up" approach, based on proprietary indicators as well as fundamental and technical analysis. Exposure to a market can therefore be defined independently from other asset classes and/or against other asset classes (favouring one market over another), with a view to optimise sources of added value. This allocation strategy can be seen from the fund's historical exposure to equity and bond markets below: Source Seeyond / Equity exposure is expressed in %, bond exposure is expressed in duration in number of years. As at end of December 2014 The asset allocation is adjusted dynamically, in line with economic cycles, and is therefore adaptable to different market configurations. Focus on the last three years: a truly dynamic fund with robust performance With a performance of +7.20% in 2014 and volatility of 4.34% for the I share class in 2014, Seeyond Multi Asset Conservative Growth Fund had an excellent year not only in absolute terms but also in relative terms, compared with its main competitors. This can be explained by the following factors: On fixed income markets, contrary to the consensus, we increased our modified duration at the beginning of It has fluctuated between 3 and 4 on average, with an overweight in European government bonds compared with US bonds. We also increased our positive exposure to peripheral markets and were able to take advantage of the decrease of Spanish and Italian yields. On currency markets, we started buying US dollars in January anticipating a drift of monetary policy in the United States on the one hand and the ECB (European Central Bank) and the BoJ (Bank of Japan) on the other. On the equity markets we stayed clear of emerging markets equities for most of the year. We also limited the negative impact of European equities at the beginning of the year by allocating to other developed geographical regions, before returning to the Eurozone in the last few weeks.

3 Analysing contributions to performance for the last three years, we see that the fund has posted an annualised performance of nearly 6%, with reduced volatility (4.13% annualised over three years). Fixed income and currencies contributed to 76% of the fund s performance in 2014, whereas equities contributed 90% in 2013 and 70% in This reflects the opportunistic aspect and the aim to generate consistent performance of the investment process. During periods of heightened market stress, the portfolio managers focus on less volatile asset classes and regions, reducing the average level of volatility of the fund. In times or reduced risk aversion, the fund is allocated more flexibly, in order to take advantage of more favourable market conditions. What outlook for 2015? 2015 seems to be announcing a period of greater volatility on the markets and greater disparity between asset classes and regions: On equity markets, equities in the Eurozone and Japan are likely to benefit from the ultra-accommodative monetary policies, the positive impact of both the decrease in oil price and local currencies, and a gradual movement towards "reflation" of the economies. On the other hand, without the systematic support of the Federal Reserve, US equities could become more sensitive to fundamentals and therefore more volatile. On the foreign exchange markets, the US dollar could appreciate more quickly mid-year with the improvement in the US job market and changes in the Federal Reserve s announcements. On the government bond markets, we favour European and Japanese bonds, which are supported by the quantitative easing policies implemented by the ECB and the BoJ. At the same time, US government bonds could suffer from the changes to the US monetary policy, but the lack of inflation and the lack of supply could cap the rise in US bonds pricing during The equity and foreign exchange markets are therefore likely to be the main sources of return in The investment team can take advantage from these market configurations. The fund is indeed able to adapt to different market conditions and will seek sources of return on the markets that are best positioned in the economic and financial cycle. Also, the flexible and highly reactive management process should enable the investment team to adapt positions in the case of any significant adverse events that can cast doubts on the base scenario.

4 A flexible portfolio management adapted to different needs Seeyond Multi Asset Conservative Growth Fund meets different client requirements through its goal to generate positive and steady returns over the medium term. Seeyond Multi Asset Conservative Growth Fund aims to: Generate stable and robust performances over time : the flexible, multi-asset class approach means the fund can diversify its sources of return and adapt to different market environments (low yields, asset prices evolving rapidly, arbitrage across asset classes and regions) with a moderate risk profile and a maximum year-on-year drawdown target: risk is managed at each step of the investment process, especially in risk-adjusting positions, in order to optimise the risk/return profile over the medium term. In an environment of low yields and quickly evolving risky assets, Seeyond Multi Asset Conservative Growth Fund is an alternative for traditional growth funds. A stable, experienced team with complementary backgrounds: Frank Trividic Senior Portfolio Manager, Head of Flexible Beta and Volatility 21 years of experience Stéphanie Bigou Senior Portfolio Manager 16 years of experience Didier Jauneaux Senior Portfolio Manager 31 years of experience Written on February, 16th 2015 By the Flexible Beta & Volatility investment team

5 About Seeyond Seeyond is the structured product and volatility management investment division of Natixis Asset Management. In order to offer investments that combine performance generation with risk reduction, Seeyond applies investment strategies that go beyond conventional active management. In order to turn uncertainty into opportunity, Seeyond develops a complete range of funds in 3 areas of expertise: structured and active protected management, flexible asset allocation and active volatility management, model-driven global and European equity strategies. The portfolio management team is daily supported by a quantitative research platform. With 34 employees, Seeyond has 15 billion in assets under management as of 30/09/2014. Seeyond s fund range is distributed by Natixis Global Asset Management s global distribution platform and is designed for all types of investors, both professional and non-professional. More info: Natixis Asset Management ranks among the leading European asset managers with billion in assets under management and 600 employees. Natixis Asset Management offers its clients tailored, innovative and efficient solutions organised into six investment divisions: Fixed income, European equities, Investment and client solutions, Structured products and volatility (developed by Seeyond*), Global emerging, and Responsible Investing (developed by Mirova**). Source: Natixis Asset Management as of 30/09/2014. * Seeyond is a brand of Natixis Asset Management. ** Mirova is a subsidiary of Natixis Asset Management. References to classifications, awards and/or ratings are not an indicator of future performances by the funds/ucits and/or fund manager. Disclaimer Natixis Asset Management Registered Office: 21 quai d Austerlitz Paris Cedex 13 Tel Limited liability company, Share Capital of ,76 Regulated by AMF under n GP RCS Number Paris Seeyond is a brand of Natixis Asset Management This document is destined for professional clients. It may not be used for any purpose other than that for which it was conceived and may not be copied, diffused or communicated to third parties in part or in whole without the prior written authorization of Natixis Asset Management. None of the information contained in this document should be interpreted as having any contractual value. This document is produced purely for the purposes of providing indicative information. It constitutes a presentation conceived and created by Natixis Asset Management from sources that it regards as reliable. Natixis Asset Management reserves the right to modify the information presented in this document at any time without notice and particularly the information concerning the description of the management processes which does not in any way constitute a commitment on behalf of Natixis Asset Management. Natixis Asset Management will not be held responsible for any decision taken or not taken on the basis of information contained in this document, nor in the use that a third-party may make of it. Figures mentioned refer to previous years. Past performance does not guarantee future results. Reference to a ranking and/or a price does not indicate the future performance of the UCITS/AIF or the fund manager. The funds mentioned in this document have received the approval of the Luxembourg Commission de Surveillance du Secteur Financier (CSSF) or Autorité des Marchés Financiers (AMF), or have otherwise received authorisation to be marketed in France possibly in other countries where its sale is not contrary to local legislation. Prior to any investment, investors must check that they are legally authorised to invest in a fund. The characteristics, fees and risk return profile connected to investment in a fund are described in the Key Information Investor Document (KIID) of this fund. The KIID and periodic documents are available from Mirova upon request. You must examine the KIID, which will be given to you prior to subscription. The characteristics, fees and risk return profile connected to investment in a fund are described in the Key Information Investor Document (KIID) of this fund. The KIID and periodic documents are available from Natixis Asset Management upon request. You must read the KIID, which will be given to you prior to subscription. The analyses and opinions referenced herein represent the subjective views of the author(s) as referenced, are as of the date shown and are subject to change. There can be no assurance that developments will transpire as may be forecasted in this material. Under Natixis Asset Management s social responsibility policy, and in accordance with the treaties signed by the French government, the funds directly managed by Natixis Asset Management do not invest in any company that manufactures sells or stocks anti-personnel mines and cluster bombs.

6 Additional Notes This material has been provided for information purposes only to investment service providers or other Professional Clients or Qualified Investors. In the E.U. (outside of the U.K.) This material is provided by NGAM S.A. or one of its branch offices listed below. NGAM S.A. is a Luxembourg management company that is authorized by the Commission de Surveillance du Secteur Financier and is incorporated under Luxembourg laws and registered under n. B Registered office of NGAM S.A.: 2, rue Jean Monnet, L-2180 Luxembourg, Grand Duchy of Luxembourg. France: NGAM Distribution (n RCS Paris). Registered office: 21 quai d Austerlitz, Paris. Italy: NGAM S.A., Succursale Italiana (Bank of Italy Register of Italian Asset Management Companies no ). Registered office: Via Larga, , Milan, Italy. Germany: NGAM S.A., Zweigniederlassung Deutschland (Registration number: HRB Registry Court in Frankfurt am Main). Registered office: Im Trutz Frankfurt 55, Westend Carrée, 7. Floor, Frankfurt am Main 60322, Germany. Netherlands: NGAM, Nederlands filiaal (Registration number Chamber of Commerce in Amsterdam). Registered office: World Trade Center Amsterdam, Strawinskylaan 1259, D-Tower, Floor 12, 1077 XX Amsterdam, the Netherlands. Sweden: Natixis NGAM, Nordics Filial (Registration number Swedish Companies Registration Office). Registered office: Kungsgatan 48 5tr, Stockholm , Sweden. Spain: NGAM, Sucursal en España, authorized and supervised in relation to its activities in Spain by the CNMV. Registered office: Torre Colon II - Plaza Colon, Madrid, Spain. In Switzerland This material is provided to Qualified Investors by NGAM, Switzerland Sàrl. Registered office: Rue du Vieux Collège 10, 1204 Geneva, Switzerland. Swiss Paying Agent : RBC Investor Services Bank S.A., Esch-sur-Alzette, Zurich Branch, Badenerstrasse 567, P.O. Box 101, CH-8066 Zurich, Suisse. In the U.K. This material is provided by NGAM UK Limited which is authorised and regulated by the UK Financial Conduct Authority (register no ). Registered Office: NGAM UK Limited, Cannon Bridge House, 25 Dowgate Hill, London, EC4R 2YA. In the DIFC This material is provided in and from the DIFC financial district by NGAM Middle East, a branch of NGAM UK Limited, which is regulated by the DFSA. Related financial products or services are only available to persons who have sufficient financial experience and understanding to participate in financial markets within the DIFC, and qualify as Professional Clients as defined by the DFSA. Registered office: Office Level 6, Currency House Tower 2, PO Box , DIFC, Dubai, United Arab Emirates. In Latin America This material is provided by NGAM S.A. The above referenced entities are business development units of Natixis Global Asset Management, the holding company of a diverse line-up of specialised investment management and distribution entities worldwide. The investment management subsidiaries of Natixis Global Asset Management, including Natixis Asset Management, conduct any regulated activities only in and from the jurisdictions in which they are licensed or authorized. Their services and the products they manage are not available to all investors in all jurisdictions. It is the responsibility of each investment service provider to ensure that the offering or sale of fund shares or third party investment services to its clients complies with the relevant national law. Although Natixis Global Asset Management believes the information provided in this material to be reliable, it does not guarantee the accuracy, adequacy, or completeness of such information.