SecProbe.io

CORRESP
1
filename1.htm

April 19, 2024

U.S. Securities and Exchange Commission

Division of Investment Management

100 F Street, NE

Washington, DC 20549-0504

Attention: Allison White, Esq.

VIA EDGAR

    Re:
    Registrant:
    Natixis Funds Trust I

    File No.:
    811-04323

    Filing Type:
    Form N-1A

Dear Ms. White:

This letter responds to comments
of the staff (the “Staff”) of the Securities and Exchange Commission (the “Commission”) received
by telephone on April 4, 2024, regarding the post-effective amendment to the Natixis Funds Trust I (the “Registrant”)
registration statement on Form N-1A for the Mirova Global Green Bond Fund, Mirova Global Sustainable Equity Fund and the Mirova International
Sustainable Equity Fund (the “Funds”), which was filed with the Commission on February 23, 2024 (the “Registration
Statement”). For your convenience, we have summarized each comment below, followed by the Registrant’s response. Any term
that is used, but not defined, in this letter retains the same meaning as used by the Registrant in the Registration Statement.

Please note that the Registration
Statement is scheduled to become effective automatically on April 29, 2024.

 1. Comment. Please provide within the correspondence copies of the fees and expense tables and examples,
with values prior to the effective date.

Response.
The Registrant has included completed fund fees and expense tables, and examples for each Fund below:

Mirova
Global Green Bond Fund

Fund Fees & Expenses

The following table
describes the fees and expenses that you may pay if you buy, hold, and sell shares of the Fund. You may pay other fees, such as brokerage
commissions and other fees to financial intermediaries, which are not reflected in this table. You may qualify for sales charge discounts
if you and your family invest, or agree to invest in the future, at least $100,000 in the Natixis Funds Complex. More information about
these and other discounts is available from your financial professional and in the section “How Sales Charges Are Calculated”
on page 61 of the Prospectus, in Appendix A to the Prospectus and on page 111 in the section “Reduced Sales Charges” of the
Statement of Additional Information (“SAI”).

Shareholder Fees

    (fees paid directly from your investment)
    Class A
    Class N
    Class Y

    Maximum sales charge (load) imposed on purchases (as a percentage of offering price)
    4.25%
    None
    None

    Maximum deferred sales charge (load) (as a percentage of original purchase price or redemption proceeds, as applicable)
    None*
    None
    None

    Redemption fees
    None
    None
    None

* A 1.00% contingent deferred sales charge (“CDSC”) may apply to certain purchases of Class
A shares of $1,000,000 or more that are redeemed within eighteen months of the date of purchase.

Annual Fund Operating Expenses

    (expenses that you pay each year as a percentage of the value of your investment)
    Class A
    Class N
    Class Y

    Management fees
    0.50%
    0.50%
    0.50%

    Distribution and/or service (12b-1) fees
    0.25%
    0.00%
    0.00%

    Other expenses
    0.66%
    0.58%
    0.66%

    Total annual fund operating expenses
    1.41%
    1.08%
    1.16%

    Fee waiver and/or expense reimbursement1,2
    0.48%
    0.46%
    0.48%

    Total annual fund operating expenses after fee waiver and/or expense reimbursement
    0.93%
    0.62%
    0.68%

1 Mirova US LLC (“Mirova US” or the “Adviser”) has given a
binding contractual undertaking to the Fund to limit the amount of the Fund’s total annual fund operating expenses to 0.90%, 0.60%
and 0.65% of the Fund’s average daily net assets for Class A, Class N and Class Y shares, respectively, exclusive of brokerage expenses,
interest expense, taxes, acquired fund fees and expenses, organizational and extraordinary expenses, such as litigation and indemnification
expenses. This undertaking is in effect through April 30, 2025 and may be terminated before then only with the consent of the Fund’s
Board of Trustees. The Adviser will be permitted to recover, on a class-by-class basis, management fees waived and/or expenses reimbursed
to the extent that expenses in later periods fall below both (1) the class’ applicable expense limitation at the time such amounts
were waived/reimbursed and (2) the class’ current applicable expense limitation. The Fund will not be obligated to repay any such
waived/reimbursed fees and expenses more than one year after the end of the fiscal year in which the fees or expenses were waived/reimbursed.

2 Natixis Advisors, LLC (“Natixis Advisors”) has given a binding contractual
undertaking to the Fund to reimburse any and all transfer agency expenses for Class N shares. This undertaking is in effect through April
30, 2025 and may be terminated before then only with the consent of the Fund’s Board of Trustees.

Example

This example is intended
to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest
$10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods (except where indicated).
The example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same except
that the example is based on the Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement assuming that such
waiver and/or reimbursement will only be in place through the date noted above and on the Total Annual Fund Operating Expenses for the
remaining periods. The example does not take into account brokerage commissions and other fees to financial intermediaries that you may
pay on your purchases and sales of shares of the Fund. Although your actual costs may be higher or lower, based on these assumptions your
costs would be:

    If shares are redeemed:
    1 year
    3 years
    5 years
    10 years

    Class A
    $  516
    $  807
    $ 1,120
    $ 2,004

    Class N
    $    63
    $  298
    $    551
    $ 1,276

    Class Y
    $    69
    $  321
    $    592
    $ 1,366

Mirova
Global Sustainable Equity Fund

Fund Fees & Expenses

The following table
describes the fees and expenses that you may pay if you buy, hold, and sell shares of the Fund. You may pay other fees, such as brokerage
commissions and other fees to financial intermediaries, which are not reflected in this table. You may qualify for sales charge discounts
if you and your family invest, or agree to invest in the future, at least $50,000 in the Natixis Funds Complex. More information about
these and other discounts is available from your financial professional and in the section “How Sales Charges Are Calculated”
on page 61 of the Prospectus, in Appendix A to the Prospectus and on page 111 in the section “Reduced Sales Charges” of the
Statement of Additional Information (“SAI”).

Shareholder Fees

    (fees paid directly from your investment)
    Class A
    Class C
    Class N
    Class T
    Class Y

    Maximum sales charge (load) imposed on purchases (as a percentage of offering price)
    5.75%
    None
    None
    2.50%
    None

    Maximum deferred sales charge (load) (as a percentage of original purchase price or redemption proceeds, as applicable)

    None*

    1.00%

    None

    None

    None

    Redemption fees
    None
    None
    None
    None
    None

* A 1.00% contingent deferred sales charge (“CDSC”) may apply to certain purchases of Class
A shares of $1,000,000 or more that are redeemed within eighteen months of the date of purchase.

Annual Fund Operating Expenses

    (expenses that you pay each year as a percentage of the value of your investment)
    Class A
    Class C
    Class N
    Class T
    Class Y

    Management fees
    0.80%
    0.80%
    0.80%
    0.80%
    0.80%

    Distribution and/or service (12b-1) fees
    0.25%
    1.00%
    0.00%
    0.25%
    0.00%

    Other expenses
    0.19%
    0.19%
    0.09%
    0.19%1
    0.19%

    Total annual fund operating expenses
    1.24%
    1.99%
    0.89%
    1.24%
    0.99%

    Fee waiver and/or expense reimbursement2,3
    0.04%
    0.04%
    0.00%
    0.04%
    0.04%

    Total annual fund operating expenses after fee waiver and/or expense reimbursement
    1.20%
    1.95%
    0.89%
    1.20%
    0.95%

 1 Other expenses for Class T shares are estimated for the current fiscal year.

 2 Mirova US LLC (“Mirova US” or the “Adviser”) has given a
binding contractual undertaking to the Fund to limit the amount of the Fund’s total annual fund operating expenses to 1.20%, 1.95%,
0.90%, 1.20% and 0.95% of the Fund’s average daily net assets for Class A, C, N, T and Y shares, respectively, exclusive of brokerage
expenses, interest expense, taxes, acquired fund fees and expenses, organizational and extraordinary expenses, such as litigation and
indemnification expenses. This undertaking is in effect through April 30, 2025 and may be terminated before then only with the consent
of the Fund’s Board of Trustees. The Adviser will be permitted to recover, on a class-by-class basis, management fees waived and/or
expenses reimbursed to the extent that expenses in later periods fall below both (1) the class’ applicable expense limitation at
the time such amounts were waived/reimbursed and (2) the class’ current applicable expense limitation. The Fund will not be obligated
to repay any such waived/reimbursed fees and expenses more than one year after the end of the fiscal year in which the fees or expenses
were waived/reimbursed.

 3 Natixis Advisors, LLC (“Natixis Advisors”) has given a binding contractual
undertaking to the Fund to reimburse any and all transfer agency expenses for Class N shares. This undertaking is in effect through April
30, 2025 and may be terminated before then only with the consent of the Fund’s Board of Trustees.

Example

This example is intended to
help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest
$10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods (except where indicated).
The example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same except
that the example is based on the Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement assuming that such
waiver and/or reimbursement for classes A, C, T and Y will only be in place through the date noted above and on the Total Annual Fund
Operating Expenses for the remaining periods. The example for Class C shares for the ten-year period reflects the conversion to Class
A shares after eight years. The example does not take into account brokerage commissions and other fees to financial intermediaries that
you may pay on your purchases and sales of shares of the Fund. Although your actual costs may be higher or lower, based on these assumptions
your costs would be:

    If shares are redeemed:
    1 year
    3 years
    5 years
    10 years

    Class A
    $  690
    $  942
    $  1,213
    $  1,985

    Class C
    $  298
    $  621
    $  1,069
    $  2,120

    If shares are redeemed:
    1 year
    3 years
    5 years
    10 years

    Class N
    $    91
    $  284
    $  493
    $  1,096

    Class T
    $  369
    $  630
    $  910
    $  1,709

    Class Y
    $    97
    $  311
    $  543
    $  1,209

    If shares are not redeemed:
    1 year
    3 years
    5 years
    10 years

    Class C
    $  198
    $  621
    $  1,069
    $  2,120

Mirova
International Sustainable Equity Fund

Fund Fees & Expenses

The following table
describes the fees and expenses that you may pay if you buy, hold, and sell shares of the Fund. You may pay other fees, such as brokerage
commissions and other fees to financial intermediaries, which are not reflected in this table. You may qualify for sales charge discounts
if you and your family invest, or agree to invest in the future, at least $50,000 in the Natixis Funds Complex. More information about
these and other discounts is available from your financial professional and in the section “How Sales Charges Are Calculated”
on page 61 of the Prospectus, in Appendix A to the Prospectus and on page 111 in the section “Reduced Sales Charges” of the
Statement of Additional Information (“SAI”).

Shareholder Fees

    (fees paid directly from your investment)
    Class A
    Class N
    Class Y

    Maximum sales charge (load) imposed on purchases (as a percentage of offering price)
    5.75%
    None
    None

    Maximum deferred sales charge (load) (as a percentage of original purchase price or redemption proceeds, as applicable)
    None*
    None
    None

    Redemption fees
    None
    None
    None

* A 1.00% contingent deferred sales charge (“CDSC”) may apply to certain purchases of Class A shares of $1,000,000 or more
that are redeemed within eighteen months of the date of purchase.

Annual Fund Operating Expenses

    (expenses that you pay each year as a percentage of the value of your investment)
    Class A
    Class N
    Class Y

    Management fees
    0.80%
    0.80%
    0.80%

    Distribution and/or service (12b-1) fees
    0.25%
    0.00%
    0.00%

    Other expenses
    1.59%
    1.48%
    1.59%

    Total annual fund operating expenses
    2.64%
    2.28%
    2.39%

    Fee waiver and/or expense reimbursement1,2
    1.44%
    1.38%
    1.44%

    Total annual fund operating expenses after fee waiver and/or expense reimbursement
    1.20%
    0.90%
    0.95%

1 Mirova US LLC (“Mirova US” or the “Adviser”) has given
a binding contractual undertaking to the Fund to limit the amount of the Fund’s total annual fund operating expenses to 1.20%, 0.90%
and 0.95% of the Fund’s average daily net assets for Class A, N and Y shares, respectively, exclusive of brokerage expenses, interest
expense, taxes, acquired fund fees and expenses, organizational and extraordinary expenses, such as litigation and indemnification expenses.
This undertaking is in effect through April 30, 2025 and may be terminated before then only with the consent of the Fund’s Board
of Trustees. The Adviser will be permitted to recover, on a class-by-class basis, management fees waived and/or expenses reimbursed to
the extent that expenses in later periods fall below both (1) the class’ applicable expense limitation at the time such amounts
were waived/reimbursed and (2) the class’ current applicable expense limitation. The Fund will not be obligated to repay any such
waived/reimbursed fees and expenses more than one year after the end of the fiscal year in which the fees or expenses were waived/reimbursed.

2 Natixis Advisors, LLC (“Natixis Advisors”) has given a binding contractual
undertaking to the Fund to reimburse any and all transfer agency expenses for Class N shares. This undertaking is in effect through April
30, 2025 and may be terminated before then only with the consent of the Fund’s Board of Trustees.

Example

This example is intended to
help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest
$10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods (except where indicated).
The example also assumes that your investment has a 5% return each year and that the Fund’s

operating expenses remain
the same except that the example is based on the Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement assuming
that such waiver and/or reimbursement will only be in place through the date noted above and on the Total Annual Fund Operating Expenses
for the remaining periods. The example does not take into account brokerage commissions and other fees to financial intermediaries that
you m