SEATTLE, March 26, 2014 /PRNewswire/ -- Parametric Portfolio Associates LLC ("Parametric"), an affiliate of Eaton Vance Corp. (NYSE: EV), today announced the launch of Parametric Dividend Income Fund (Investor Class: EAPDX; Institutional Class: EIPDX) . Eaton Vance Management is the Fund's investment adviser and Parametric serves as the Fund's sub-adviser.
The Fund is co-managed by David M. Stein, Ph.D., Chief Investment Officer of Parametric, and Thomas Seto, Managing Director, Portfolio Management.
In managing the Fund, the portfolio managers employ a top-down, disciplined and systematic investment process that emphasizes a diversified portfolio of quality companies that have historically demonstrated high current income and lower levels of stock price volatility on a sector relative basis. To achieve broad diversification, each industry sector generally receives an equal weight. The top ranked securities within each sector based on the sub-adviser's yield and volatility screening are also generally equal weighted. The portfolio may be rebalanced on a periodic basis to maintain diversification, and is reconstituted on an annual basis.
"We are excited to offer a new strategy that provides clients with a diversified equity income strategy," said Parametric Chief Executive Officer, Brian Langstraat. "The strategy emphasizes durable dividend payers while avoiding the potential consequences of sector concentrations."
Parametric focuses on the delivery of engineered portfolio solutions, including rules-based alpha-seeking equity, alternative and options strategies, as well as implementation services including tax-managed core equity, futures overlay and centralized portfolio management. As of January 31, 2014, Parametric managed approximately $116.5 billion in total assets on behalf of institutions, high-net-worth individuals and fund investors in the U.S. and internationally. Parametric's principal investment centers are in Seattle, Minneapolis, and Westport, Connecticut. For more information about Parametric, visit parametricportfolio.com.
Eaton Vance is one of the oldest investment management firms in the United States, with a history dating to 1924. Eaton Vance and its affiliates managed $278.6 billion in assets as of January 31, 2014, 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 eatonvance.com.
About Risk: Diversification does not guarantee profit or eliminate the risk of loss. Fund share values are sensitive to stock market volatility. No Fund is a complete investment program and you may lose money investing in a Fund. The 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 the investment objective, risks, charges and expenses of a mutual fund. This and other important information is contained in the prospectus and summary prospectus, which can be obtained from a financial advisor. Prospective investors should read the prospectus carefully before investing.
The Fund is distributed by Eaton Vance Distributors, Inc., Two International Place, Boston, MA 02110. Member FINRA/SIPC.
SOURCE Eaton Vance Management