Eaton Vance Risk-Managed Diversified Equity Income Fund Report Of Earnings

Jan 06, 2014, 12:18 ET from Eaton Vance Management

BOSTON, Jan. 6, 2014 /PRNewswire/ -- Eaton Vance Risk-Managed Diversified Equity Income Fund (NYSE: ETJ), a diversified closed-end investment company, today announced the earnings of the Fund for the three months and nine months ended September 30, 2013. The Fund's fiscal year ended on December 31, 2013.

For the three months ended September 30, 2013, the Fund had net investment income of $1,259,181 ($0.019 per common share). For the nine months ended September 30, 2013, the Fund had net investment income of $4,650,771 ($0.067 per common share). In comparison, for the three months ended September 30, 2012, the Fund had net investment income of $1,656,951 ($0.022 per common share). For the nine months ended September 30, 2012, the Fund had net investment income of $6,017,920 ($0.082 per common share).

Net realized and unrealized gains for the three months ended September 30, 2013 were $24,502,282 ($0.355 per common share) and net realized and unrealized gains for the nine months ended September 30, 2013 were $66,718,805 ($0.956 per common share). In comparison, net realized and unrealized gains for the three months ended September 30, 2012 were $23,736,063 ($0.324 per common share) and net realized and unrealized gains for the nine months ended September 30, 2012 were $30,159,031 ($0.413 per common share).

On September 30, 2013, net assets of the Fund were $836,034,101. The net asset value per common share on September 30, 2013 was $12.16 based on 68,742,783 common shares outstanding. In comparison, on September 30, 2012, net assets of the Fund were $888,671,120. The net asset value per common share on September 30, 2012 was $12.27 based on 72,416,383 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 $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 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 RISK-MANAGED DIVERSIFIED EQUITY INCOME FUND

SUMMARY OF RESULTS OF OPERATIONS

(in thousands, except per share amounts)

Three Months Ended

Nine Months Ended

September 30,

September 30,

2013

2012

2013

2012

Gross investment income

$            3,634

$            4,081

$           11,769

$          13,301

Operating expenses

(2,375)

(2,424)

(7,118)

(7,283)

Net investment income

$            1,259

$            1,657

$             4,651

$            6,018

Net realized and unrealized gains (losses)

  on investments

$          24,502

$          23,736

$           66,718

$          30,159

Net increase (decrease) in net assets

  from operations

$          25,761

$          25,393

$           71,369

$          36,177

Earnings per Common Share Outstanding

Gross investment income

$            0.053

$            0.056

$             0.169

$            0.182

Operating expenses

(0.034)

(0.034)

(0.102)

(0.100)

Net investment income 

$            0.019

$            0.022

$             0.067

$            0.082

Net realized and unrealized gains (losses)

  on investments

$            0.355

$            0.324

$             0.956

$            0.413

Net increase (decrease) in net assets

  from operations

$            0.374

$            0.346

$             1.023

$            0.495

Net Asset Value at September 30 (Common Shares)

Net assets  

$         836,034

$        888,671

Shares outstanding 

68,743

72,416

Net asset value per share outstanding

$             12.16

$            12.27

Market Value Summary (Common Shares)

Market price on NYSE at September 30

$             10.81

$            10.53

High market price (period ended September 30)

$             11.48

$            10.79

Low market price (period ended September 30)

$             10.62

$              9.89

SOURCE Eaton Vance Management



RELATED LINKS

http://www.eatonvance.com