Parametric Appointed After-Tax Investment Manager for Qantas Super

      Parametric Appointed After-Tax Investment Manager for Qantas Super

Eaton Vance Affiliate Key Part of Australian Strategy

PR Newswire

SEATTLE, Dec. 18, 2012

SEATTLE, Dec. 18, 2012 /PRNewswire/ --Parametric, a majority-owned subsidiary
of Eaton Vance Corp. (NYSE: EV), has been appointed by Sydney, Australia based
Qantas Superannuation Limited (Qantas Super), to provide an efficient
implementation platform for Qantas Super's listed Australian and global equity

Parametric has over 20 years' experience in managing equity portfolios with
after-tax returns as a key objective, and has the technology, experience and
skills, to systematically deliver efficient portfolio implementation.

"At Qantas Super, we are committed to reducing investment costs through the
implementation of processes that increase savings potential for our member
base. Parametric's appointment was a clear step for us in our drive towards
greater transparency and more efficient investing. We have long held the view
that returns should be measured and assessed on an after-tax basis because
this is what matters most to our members," said Andrew Spence, Chief
Investment Officer of Qantas Super.

Chief Executive of Parametric Brian Langstraat added, "Australia is a very
important market for Parametric and we're proud to add an organisation of such
caliber to our growing portfolio of clients. We are fully committed to
building our operation and presence here, drawing on our direct research and
technology experience in the after tax space."

Parametric will apply an agreed methodology to report both the before-tax and
after-tax returns of Qantas Super's Australian and global equity portfolios,
as well as attributing the performance to pre-tax and after-tax returns.

After-tax returns can give a materially different view of the real value that
managers deliver to clients and the ranking of these managers, compared to
assessments made using pre-tax returns.

Australia's retirement savings ("superannuation") industry is adapting to meet
the Australian government's new legislation coming into effect on January 1,
2014. In an effort to improve the efficiency, competition and transparency of
Australia's superannuation industry, the legislation requires superannuation
funds to promote the financial interests of members, in particular net
returns, which is the real return after fees, costs and taxes.

About Parametric
Parametric is a Seattle-based investment management firm focused on the
delivery of rules-based, risk-controlled strategies, including engineered
alpha-seeking portfolios, options strategies and customized equity and
centralized portfolio management implementation services. As of October 31,
2012, Parametric managed $53.4 billion in assets on behalf of institutions,
high-net-worth individuals and fund investors in the U.S. and
internationally. Parametric is a majority-owned subsidiary of Eaton Vance.

About Eaton Vance
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 $199.5.billion in assets as of October 31, 2012, 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

About the Qantas Superannuation Plan
The Qantas Superannuation Plan is one of Australia's leading corporate
superannuation funds and is run for the benefit of current and former
employees of Qantas Airways Limited and its associated companies. The Plan
has been operating since 1939 and now has over 33,000 members and assets of
approximately AUD $6 billion.

SOURCE Parametric

Contact: Kurt Galley, +1-206-694-5512
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