Eaton Vance Repositions Parametric Mutual Funds
BOSTON, Feb. 15, 2013
BOSTON, Feb. 15, 2013 /PRNewswire/ -- Eaton Vance Management (Eaton Vance), a
subsidiary of Eaton Vance Corp. (NYSE: EV), announced today that, effective
March 1, 2013, the following mutual funds sub-advised by its controlled
subsidiaries Parametric Portfolio Associates LLC and Parametric Risk Advisors
LLC (collectively, Parametric) will be renamed as follows:
CURRENT FUND NAME NEW FUND NAME
Eaton Vance Parametric
Parametric Emerging Markets Fund
Structured Emerging Markets Fund
Eaton Vance Parametric Parametric Tax-Managed Emerging Markets
Tax-Managed Emerging Markets Fund Fund
Eaton Vance Parametric Parametric International Equity Fund
Structured International Equity Fund
Eaton Vance Parametric Parametric Tax-Managed International
Tax-Managed International Equity Equity Fund
Eaton Vance Parametric Parametric Absolute Return Fund
Option Absolute Return Fund
Eaton Vance Parametric Parametric Market Neutral Fund
Structured Absolute Return Fund
Eaton Vance Parametric Parametric Commodity Strategy Fund
Structured Commodity Strategy Fund
Eaton Vance Parametric Parametric Currency Fund
Structured Currency Fund
Eaton Vance also announced that, effective March 1, 2013, the Funds' Class I
shares will be renamed "Institutional Class" shares and the initial minimum
investment for this class of shares will be lowered from $250,000 to $50,000.
At the same time, the Funds' Class A shares will be renamed "Investor Class"
shares and the sales charge that has applied to certain purchases of this
class of shares will no longer be in effect. Going forward, all sales of
Institutional Class and Investor Class shares will be at net asset value
(NAV). Eaton Vance will continue to distribute and administer the Funds and
oversee their management.
"Parametric employs a systematic, rules-based investment approach that is
distinctly different from the investment strategies of other Eaton
Vance-sponsored funds," said Brian Langstraat, chief executive officer of
Parametric. "Renaming the Funds better highlights that differentiation. By
offering two share classes, each at NAV, we believe we can enhance the Funds'
availability and lower the cost of investing."
Parametric focuses on the delivery of engineered portfolio solutions,
including rules-based alpha-seeking equity, alternative and options
strategies, as well as implementation services including tax-managed core
equity, futures overlay and centralized portfolio management. As of December
31, 2012, Parametric managed $91.7 billion in assets on behalf of
institutions, high-net-worth individuals and fund investors in the U.S. and
internationally. Parametric operates from investment centers in Seattle, WA,
Minneapolis, MN and Westport, CT.
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 $238.4 billion in assets as of December 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
investors. For more information, visit eatonvance.com.
Fund share values are sensitive to volatility in each Fund's corresponding
market. The Funds may engage in investment practices that may involve
additional risks and you should review each Fund's prospectus for a complete
description. No Fund is a complete investment program and you may lose money
investing in a Fund.
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 Funds are 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
Contact: Colleen Lavery, +1-617-672-8995, email@example.com
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