BOSTON, Nov. 3, 2014 /PRNewswire/ -- Eaton Vance Management (Eaton Vance), a subsidiary of Eaton Vance Corp. (NYSE: EV), today announced the launch of Eaton Vance Bond Fund II (Class A: EBTAX, Class C: EBTCX, Class I: EBTIX), a non-diversified mutual fund seeking total return, managed by a team led by Kathleen Gaffney, CFA, Vice President of Eaton Vance.
Eaton Vance Bond Fund II employs a bottom-up, research-driven and value-oriented approach to investing across income markets, including U.S. investment grade and high yield bonds, non-U.S. sovereign and corporate debt, floating-rate bank loans and convertible securities. Under normal market conditions, Bond Fund II invests at least 80% of its net assets in bonds and other fixed and floating-rate income instruments.
In addition to Ms. Gaffney, the Fund's portfolio managers are Henry Peabody, CFA, Stephen Concannon, CFA, and Michael Turgel, CFA/CPA, each a Vice President of Eaton Vance. The team is also responsible for managing Eaton Vance Bond Fund (Class A: EVBAX, Class C: EVBCX, Class I: EVBIX), which had approximately $1.7 billion in assets under management as of September 30, 2014. Different from the established Bond Fund, Bond Fund II will not have a strategic allocation to common stocks.
"In today's market environment, investors are looking for flexible solutions to address both their income needs and long-term total return objectives," said Payson Swaffield, CFA, Chief Income Investment Officer for Eaton Vance. "Bond Fund II is our latest offering to employ a multi-sector approach to income investing that is rooted in thorough, fundamental, security-specific research."
Eaton Vance Corp. is one of the oldest investment management firms in the United States, with a history dating to 1924. Eaton Vance and its affiliates managed $293.6 billion in assets as of September 30, 2014, offering individuals and institutions a broad array of investment strategies and wealth management solutions. Eaton Vance's long record of providing exemplary service, timely innovation and attractive returns through a variety of market conditions has made it the investment manager of choice for many of today's most discerning investors. For more information about Eaton Vance, visit eatonvance.com.
About Risk: An imbalance in supply and demand in the income market may result in valuation uncertainties and greater volatility, less liquidity, widening credit spreads and a lack of price transparency in the market. Investments rated below investment grade (typically referred to as "junk") are generally subject to greater price volatility and illiquidity than higher rated investments. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical or other conditions. In emerging countries, these risks may be more significant. As interest rates rise, the value of certain income investments and preferred stocks is likely to decline. Bank loans are subject to prepayment risk. Investments in income securities may be affected by changes in the creditworthiness of the issuer and are subject to the risk of nonpayment of principal and interest. The value of income securities also may decline because of real or perceived concerns about the issuer ability to make principal and interest payments. Convertible securities may react to changes in the value of the common stock into which they convert, and are thus subject to equity market risk. A non-diversified fund may be subject to greater risk by investing in a smaller number of investments than a diversified fund. 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 Fund's investment objective, risks, charges and expenses. This and other important information is contained in the Fund's 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
Not FDIC Insured - Not Bank Guaranteed - May Lose Value
SOURCE Eaton Vance Management
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