Eaton Vance Announces Upcoming Retirement Of Judith A. Saryan, CFA, And Changes To Eaton Vance Dividend Fund Portolio Teams
BOSTON, Nov. 21, 2013 /PRNewswire/ -- Eaton Vance Corp. (NYSE: EV) announced today that Judith A. Saryan, CFA, Vice President of Eaton Vance Management (EVM) and a portfolio manager in EVM's equity group, will retire from the Eaton Vance organization on December 20, 2013. In connection with her retirement, the portfolio managers of the below-listed Eaton Vance dividend income funds ("Funds") are changing:
- Eaton Vance Tax-Advantaged Dividend Income Fund (NYSE: EVT)
- Eaton Vance Tax-Advantaged Global Dividend Income Fund (NYSE: ETG)
- Eaton Vance Tax-Advantaged Global Dividend Opportunities Fund (NYSE: ETO)
- Eaton Vance Global Dividend Income Fund
(Class A: EDIAX, Class C: EDICX, Class I: EDIIX, Class R: EDIRX)
- Eaton Vance Tax-Managed Global Dividend Income Fund
(Class A: EADIX, Class B: EBDIX, Class C: ECDIX, Class I: EIDIX)
Effective today, the portfolio management teams of the Funds now include new managers Michael A. Allison, CFA, and Walter A. Row III, CFA, CMT, and continuing manager John H. Croft, CFA. Ms. Saryan will continue serving as a portfolio manager of the Funds until her retirement from Eaton Vance. Aamer Khan, CFA, formerly a member of the Funds' portfolio management teams, will focus on other investment responsibilities in EVM's equity group. Messrs. Allison, Croft, Khan and Row are Vice Presidents of EVM and Messrs. Allison, Croft and Row also co-manage other Eaton Vance funds. Mr. Row will serve as President of EVT, ETG and ETO, which are closed-end funds.
Charles B. Gaffney, Vice President and Director of Equity Research at EVM, becomes sole portfolio manager of Dividend Builder Portfolio, the master portfolio in which Eaton Vance Dividend Builder Fund (Class A: EVTMX, Class B: EMTMX, Class C: ECTMX, Class I: EIUTX) invests. Ms. Saryan and Mr. Gaffney formerly co-managed Dividend Builder Portfolio.
Ms. Saryan joined EVM as an equity analyst and portfolio manager in 1999. She received numerous performance awards during her tenure as manager of Eaton Vance Utilities Fund, predecessor to Eaton Vance Dividend Builder Fund. As leader of EVM's dividend income group, Ms. Saryan was instrumental in launching Eaton Vance's family of dividend income funds in the early 2000s.
"In her nearly 15 years in Eaton Vance's equity group, Judy made notable contributions in each of her areas of responsibility and leaves a particular mark as an advocate and leading practitioner of dividend-oriented stock investing," said Thomas E. Faust Jr., Chairman and Chief Executive Officer of Eaton Vance. "We thank her for the contributions she had made to the Company's growth and success, and wish her all the best."
Eaton Vance is one of the oldest investment management firms in the United States, with a history dating back to 1924. Eaton Vance and its affiliates managed $280.7 billion in assets as of October 31, 2013, offering individuals and institutions a broad array of investment strategies and wealth management solutions. The Company's long record of providing exemplary service, timely innovation and attractive returns through a variety of market conditions has made Eaton Vance the investment manager of choice for many of today's most discerning investors. For more information about Eaton Vance, visit www.eatonvance.com.
EVT, ETG and ETO: The information contained herein is provided for informational purposes only and does not constitute a solicitation of an offer to buy or sell Fund shares. Common shares of the Funds are only available for purchase and sale at current market price on a stock exchange. Shares of closed-end funds often trade at a discount from their net asset value. The market price of Fund shares may vary from net asset value based on factors affecting the supply and demand for shares, such as Fund distribution rates relative to similar investments, investors' expectations for future distribution changes, the clarity of the Fund's investment strategy and future return expectations, and investors' confidence in the underlying markets in which the Fund invests. Fund shares are subject to investment risk (including those described below), including possible loss of principal invested. No Fund is a complete investment program and you may lose money investing in a Fund. An investment in a Fund may not be appropriate for all investors. Investors should consider carefully a Fund's investment objective, risks, charges and expenses.
Global Dividend Income, Tax-Managed Global Dividend Income and Dividend Builder Funds: Fund share values are sensitive to stock market volatility. Changes in the dividend policies of companies could make it difficult to provide a predictable level of income. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical or other conditions. Dividend capture strategies may result in higher portfolio turnover, increased trading costs and potential for capital loss or gain. When interest rates rise, the value of preferred stocks will generally decline. No Fund is a complete investment program and you may lose money investing in a Fund. Regulatory changes may adversely affect securities markets and market participants, as well as a Fund's ability to implement its strategy. A Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description. Before investing, investors should consider carefully each Fund's investment objective, risks, charges and expenses. This and other important information is contained in each Fund's prospectus and summary prospectus, which can be obtained from a financial advisor. Prospective investors should read the prospectus carefully before investing.
Eaton Vance Global Dividend Income Fund, Eaton Vance Tax-Managed Global Dividend Income Fund and Eaton Vance Dividend Builder Fund are distributed by Eaton Vance Distributors, Inc., Two International Place, Boston, MA 02110. Member FINRA/ SIPC
Not FDIC Insured - Not Bank Guaranteed - May Lose Value
SOURCE Eaton Vance Corp.
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