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

Mar 03, 2011, 13:30 ET from Eaton Vance Management

BOSTON, March 3, 2011 /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 year ended December 31, 2010.  The Fund's fiscal year ended on December 31, 2010.

For the three months ended December 31, 2010, the Fund had net investment income of $1,985,197 ($0.027 per common share). For the year ended December 31, 2010, the Fund had net investment income of $8,200,297 ($0.113 per common share).  In comparison, for the three months ended December 31, 2009, the Fund had net investment income of $2,363,480 ($0.033 per common share). For the year ended December 31, 2009, the Fund had net investment income of $11,497,843 ($0.161 per common share).

Net realized and unrealized gains for the three months ended December 31, 2010 were $31,247,156 ($0.427 per common share) and net realized and unrealized losses for the year ended December 31, 2010 were $18,099,857 ($0.253 per common share). In comparison, net realized and unrealized gains for the three months ended December 31, 2009 were $25,230,691 ($0.334 per common share) and net realized and unrealized gains for the year ended December 31, 2009 were $51,979,935 ($0.709 per common share).

On December 31, 2010, net assets of the Fund were $1,055,982,169.  The net asset value per common share on December 31, 2010 was $14.47 based on 72,958,783 shares outstanding.  In comparison, on December 31, 2009, net assets of the Fund were $1,183,153,706.  The net asset value per common share on December 31, 2009 was $16.41 based on 72,082,170 common shares outstanding.

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 $191.7 billion in assets as of January 31, 2011, 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

Year Ended

December 31,

December 31,

2010

2009

2010

2009

Gross investment income

$           4,788

$           5,416

$                19,865

$                24,044

Operating expenses

(2,803)

(3,052)

(11,665)

(12,546)

Net investment income

$           1,985

$           2,364

$                  8,200

$                11,498

Net realized and unrealized gains (losses)

 on investments

$         31,247

$         25,231

$               (18,100)

$                51,980

Net increase (decrease) in net assets

 from operations

$         33,232

$         27,595

$                 (9,900)

$                63,478

Earnings per Share Outstanding

Gross investment income

$           0.066

$           0.075

$                  0.274

$                  0.336

Operating expenses

(0.039)

(0.042)

(0.161)

(0.175)

Net investment income

$           0.027

$           0.033

$                  0.113

$                  0.161

Net realized and unrealized gains (losses)

 on investments

$           0.427

$           0.334

$                 (0.253)

$                  0.709

Net increase (decrease) in net assets

 from operations

$           0.454

$           0.367

$                 (0.140)

$                  0.870

Net Asset Value at December 31 (common shares)

Net assets

$           1,055,982

$           1,183,154

Shares outstanding

72,959

72,082

Net asset value per share outstanding

$                  14.47

$                  16.41

Market Value Summary (common shares)

Market price on NYSE at December 31

$                  13.28

$                  16.66

High market price (period ended December 31)

$                  17.33

$                  18.00

Low market price (period ended December 31)

$                  12.88

$                  14.77

SOURCE Eaton Vance Management



RELATED LINKS

http://www.eatonvance.com