Eaton Vance Short Duration Diversified Income Fund Report of Earnings

Oct 14, 2011, 15:14 ET from Eaton Vance Management

BOSTON, Oct. 14, 2011 /PRNewswire/ -- Eaton Vance Short Duration Diversified Fund (NYSE: EVG) (the "Fund"), a diversified, closed-end management investment company, today announced the earnings of the Fund for the three and nine months ended July 31, 2011. The Fund's fiscal year ends on October 31, 2011.

For the three months ended July 31, 2011, the Fund had net investment income of $3,827,951 ($0.202 per share). For the nine months ended July 31, 2011, the Fund had net investment income of $11,603,144 ($0.614 per share). In comparison, for the three months ended July 31, 2010, the Fund had net investment income of $4,514,083 ($0.239 per share). For the nine months ended July 31, 2010, the Fund had net investment income of $15,466,642 ($0.819 per share).

Net realized and unrealized losses for the three months ended July 31, 2011 were $2,416,846 ($0.128 per share). Net realized and unrealized gains for the nine months ended July 31, 2011 were $3,968,361 ($0.210 per share). In comparison, net realized and unrealized losses for the three months ended July 31, 2010 were $5,730,167 ($0.305 per share). Net realized and unrealized gains for the nine months ended July 31, 2010 were $7,841,317 ($0.415 per share).

On July 31, 2011, net assets of the Fund were $343,868,652. The net asset value per share on July 31, 2011 was $18.21 based on 18,886,596 shares outstanding. In comparison, on July 31, 2010, net assets of the Fund were $341,550,097. The net asset value per share on July 31, 2010 was $18.08 based on 18,886,596 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 calendar quarter-end are also posted to the website approximately 30 days following quarter-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 $177.8 billion in assets as of September 30, 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 SHORT DURATION DIVERSIFIED INCOME FUND

SUMMARY OF RESULTS OF OPERATIONS

(in thousands, except per share amounts)

 Three Months Ended 

 Nine Months Ended 

 July 31, 

 July 31, 

2011

2010

2011

2010

Gross investment income

$  5,415

$  6,049

$   16,274

$   19,837

Operating expenses

(1,587)

(1,535)

(4,671)

(4,370)

Net investment income

$  3,828

$  4,514

$   11,603

$   15,467

Net realized and unrealized gains (losses)

 on investments

$ (2,417)

$ (5,730)

$     3,968

$     7,841

Net increase (decrease) in net assets

 from operations

$  1,411

$ (1,216)

$   15,571

$   23,308

Earnings per Share Outstanding

Gross investment income

$  0.287

$  0.320

$     0.862

$     1.050

Operating expenses

(0.085)

(0.081)

(0.248)

(0.231)

Net investment income

$  0.202

$  0.239

$     0.614

(1)

$     0.819

(1)

Net realized and unrealized gains (losses)

 on investments

$ (0.128)

$ (0.305)

$     0.210

$     0.415

Net increase (decrease) in net assets

 from operations

$  0.074

$ (0.066)

$     0.824

$     1.234

Net Asset Value at July 31

Net assets  

$ 343,869

$ 341,550

Shares outstanding

18,887

18,887

Net asset value per share outstanding

$     18.21

$     18.08

Market Value Summary

Market price on NYSE at July 31

$     16.65

$     17.13

High market price (period ended July 31)

$     17.89

$     17.60

Low market price (period ended July 31)

$     16.65

$     15.46

(1)  For federal income tax purposes, estimated net investment income per share for the nine months ended July 31, 2011 and July 31, 2010 were $0.59 and $1.07, respectively.  

SOURCE Eaton Vance Management



RELATED LINKS

http://www.eatonvance.com