Eaton Vance Enhanced Equity Income Fund Report Of Earnings

14 Dec, 2012, 12:42 ET from Eaton Vance Management

BOSTON, Dec. 14, 2012 /PRNewswire/ -- Eaton Vance Enhanced Equity Income Fund (NYSE: EOI), a diversified closed-end investment company, today announced the earnings of the Fund for the three months and year ended September 30, 2012. The Fund's fiscal year ended on September 30, 2012.

For the three months ended September 30, 2012, the Fund had net investment income of $912,153 ($0.023 per common share). For the year ended September 30, 2012, the Fund had net investment income of $3,925,857 ($0.098 per common share). In comparison, for the three months ended September 30, 2011, the Fund had net investment income of $693,945 ($0.018 per common share). For the year ended September 30, 2011, the Fund had net investment income of $2,711,768 ($0.068 per common share). 

Net realized and unrealized gains for the three months ended September 30, 2012 were $25,097,824 ($0.630 per common share) and net realized and unrealized gains for the year ended September 30, 2012 were $98,228,951 ($2.460 per common share). In comparison, net realized and unrealized losses for the three months ended September 30, 2011 were $76,150,873 ($1.911 per common share) and net realized and unrealized losses for the year ended September 30, 2011 were $25,215,527 ($0.636 per common share).

On September 30, 2012, net assets of the Fund were $503,828,134. The net asset value per common share on September 30, 2012 was $12.65 based on 39,825,649 common shares outstanding. In comparison, on September 30, 2011, net assets of the Fund were $445,813,932. The net asset value per common share on September 30, 2011 was $11.15 based on 39,970,049 common shares outstanding.

The Fund periodically makes certain performance data and information about portfolio characteristics available on www.eatonvance.com (on the fund information page under "Individual Investors – Closed-End Funds"). Fund portfolio holdings for the most recent month-end are also posted to the website approximately 30 days following month-end. 

The Fund is managed by Eaton Vance Management, a subsidiary of Eaton Vance Corp. (NYSE: EV), based in Boston, one of the oldest investment management firms in the United States, with a history dating back to 1924. Eaton Vance and its affiliates managed $199.5 billion in assets as of October 31, 2012, offering individuals and institutions a broad array of investment strategies and wealth management solutions. The Company's long record of providing exemplary service 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.

EATON VANCE ENHANCED EQUITY INCOME FUND

SUMMARY OF RESULTS OF OPERATIONS

(in thousands, except per share amounts)

Three Months Ended

Year Ended

September 30,

 September 30,

2012

2011

2012

2011

Gross investment income

$            2,324

$            2,131

$            9,560

$            8,729

Operating expenses

(1,412)

(1,437)

(5,634)

(6,017)

Net investment income

$               912

$               694

$            3,926

$            2,712

Net realized and unrealized gains (losses)

  on investments

$          25,098

$        (76,151)

$          98,229

$        (25,216)

Net increase (decrease) in net assets from operations

$ 26,010

$ (75,457)

$ 102,155

$ (22,504)

Earnings per Common Share Outstanding

Gross investment income

$            0.058

$            0.053

$            0.239

$            0.218

Operating expenses

(0.035)

(0.035)

(0.141)

(0.150)

Net investment income 

$            0.023

$            0.018

$            0.098

$            0.068

Net realized and unrealized gains (losses) on investments

$ 0.630

$ (1.911)

$ 2.460

$ (0.636)

Net increase (decrease) in net assets from operations

$ 0.653

$ (1.893)

$ 2.558

$ (0.568)

Net Asset Value at September 30 (Common Shares)

Net assets  

$        503,828

$        445,814

Shares outstanding 

39,826

39,970

Net asset value per share outstanding

$            12.65

$            11.15

Market Value Summary (Common Shares)

Market price on NYSE at September 30

$            11.08

$              9.78

High market price (period ended September 30)

$            11.28

$            13.47

Low market price (period ended September 30)

$              9.42

$              9.75

SOURCE Eaton Vance Management



RELATED LINKS

http://www.eatonvance.com