Pursuant to the requirements of Rule 206(4)-7 of the Investment Advisers Act of 1940, the Loomis Sayles Chief Compliance Officer conducts an annual assessment of the adequacy and effectiveness of the firm's Compliance Program and reports the findings to the firm's Audit Committee and its Board of Directors. The date of the completion of the most recent assessment was March 2018. In addition, the firm undergoes an annual Service Organization Controls Report (SOC 1) audit (formerly SSAE 16 and SAS 70) conducted by Ernst & Young LLP. The audit is a comprehensive review of the firm's compliance policies and procedures, and key operational and technology controls. The most recent audit was conducted for the period September 1, 2016, through August 31, 2017. Loomis Sayles' Proxy Policies are included amongst these audits to ensure compliance with the policies at all times. There were no material findings in the SOC 1.