Eaton Vance Floating-Rate Income Plus Fund Announces Board Approval of New Investment Advisory Agreement
21 Dec, 2020, 16:38 ET
BOSTON, Dec. 21, 2020 /PRNewswire/ -- As previously announced on October 8, 2020, Morgan Stanley (NYSE: MS) and Eaton Vance Corp. ("Eaton Vance") (NYSE: EV) entered into a definitive agreement under which Morgan Stanley will acquire Eaton Vance (the "Transaction"). The acquisition is subject to the completion or waiver of customary closing conditions, and is expected to close in the second quarter of 2021. Eaton Vance Management is a wholly-owned subsidiary of Eaton Vance and investment adviser to Eaton Vance Floating-Rate Income Plus Fund (the "Fund").
Pursuant to the Investment Company Act of 1940, as amended, the consummation of the acquisition of Eaton Vance may be deemed to result in the automatic termination of the Fund's investment advisory agreement with Eaton Vance Management. Therefore, the Fund's Board of Trustees has approved a new investment advisory agreement to be effective upon consummation of the Transaction. The Fund's new investment advisory agreement will be presented to Fund shareholders for approval at a special meeting of shareholders to be held on February 26, 2021. Shareholders of record of each Fund at the close of business on January 15, 2021 who have voting power with respect to such shares are entitled to be present and to vote at the meeting.
In connection with the proposal to approve a new investment advisory agreement for the Fund, the Fund intends to file a definitive proxy statement with the U.S. Securities and Exchange Commission (the "SEC"). Shareholders are advised to read the Fund's proxy statement when available, as it will contain important information. When filed with the SEC, the proxy statement and other documents filed by the Fund will be available free of charge on the SEC website, www.sec.gov. Copies of the proxy statement also will be mailed to each shareholder of record as of the record date for the special shareholder meeting.
Eaton Vance provides advanced investment strategies and wealth management solutions to forward-thinking investors around the world. Through principal investment affiliates Eaton Vance Management, Parametric, Atlanta Capital, Hexavest, and Calvert, the Company offers a diversity of investment approaches, encompassing bottom-up and top-down fundamental active management, responsible investing, systematic investing, and customized implementation of client-specified portfolio exposures. As of October 31, 2020, Eaton Vance had consolidated assets under management of $515.7 billion. For more information, visit eatonvance.com.
Fund shares are subject to investment risk, including possible loss of principal invested. No Fund is a complete investment program, and you may lose money investing therein. An investment in the Fund may not be appropriate for all investors. Before investing, prospective investors should consider carefully the Fund's investment objective, risks, charges, and expenses.
This press release is for informational purposes only and is not intended to, and does not, constitute an offer to purchase or sell shares of the Fund. Additional information about the Fund, including performance and portfolio characteristic information, is available at www.eatonvance.com.
Statements in this press release that are not historical facts are forward-looking statements as defined by the U.S. securities laws. You should exercise caution in interpreting and relying on forward-looking statements because they are subject to uncertainties and other factors that are, in some cases, beyond the Fund's control and could cause actual results to differ materially from those set forth in the forward-looking statements.
SOURCE Eaton Vance Management
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