Colleen Lavery -617.672.8995 clavery@eatonvance.com
Launch of Eaton Vance Parametric Structured Absolute Return Fund and Eaton Vance Parametric Structured Currency Fund BOSTON, January 19, 2012 - Eaton Vance Management, a subsidiary of Eaton Vance Corp. (NYSE:EV) today announced the launch of two new mutual funds, Eaton Vance Parametric Structured Absolute Return Fund (Class A: EPRAX; Class I: EPRIX) and Eaton Vance Parametric Structured Currency Fund (Class A: EAPSX; Class I: EIPSX), both sub-advised by Parametric Portfolio Associates LLC, a subsidiary of Eaton Vance Corp.
Eaton Vance Parametric Structured Absolute Return Fund
employs Parametric's proprietary structured investment
process and follows a generally market-neutral strategy. The
Fund seeks to take advantage of certain quantitative and
behavioral market characteristics to achieve positive
investment returns through systematic rebalancing across a
broad range of asset classes, including U.S. and
international stocks, commodities and currencies. By
maintaining offsetting long and short exposures, the Fund
aims to have low correlation with the performance of stock,
commodity and currency markets. The Fund offers Class A and
Class I shares.
Eaton Vance Parametric Structured Currency Fund applies
Parametric's structured investment process to investments in
short-term instruments that create exposures to currencies
other than the U.S. dollar. The Fund seeks to protect against
a decline in the U.S. dollar by holding a diversified
portfolio of emerging market and developed country currency
exposures, with periodic rebalancing. The Fund offers Class A
and Class I shares.
The Funds are co-managed by David M. Stein, Ph.D., chief
investment officer of
Parametric, and Thomas Seto, managing director, portfolio
management of Parametric.
"We are pleased to bring two new offerings to the market that
further expand our solution set for clients" said Parametric
Chief Executive Officer Brian Langstraat. "Our structured, or
rules-based, investment approach distinguishes our Funds from
more traditional active and passive product offerings,
allowing us to offer what we believe are important
diversifiers to clients' portfolios."
Parametric,
headquartered in Seattle, Washington, is an industry-leading
provider of structured portfolio management solutions. As of
October 31, 2011, Parametric managed $41.9 billion in client
assets. Parametric offers a variety of structured portfolio
solutions, including customized core equity portfolios (U.S.,
developed non-U.S., emerging market and global equities),
commodities, currencies and option-based strategies. For more
information about Parametric, visit www.parametricportfolio.com.
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 $184.5 billion in
assets as of December 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.
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Primary Eaton Vance Parametric Structured Absolute Return
Fund Risks: Fund share values are sensitive to stock market
volatility. The value of the Fund's foreign currency
investments increase in value when the U.S. dollar is weak or
when foreign currencies in which the Fund invests are strong.
The value of the Fund's investments will go down when
the U.S. dollar is strong or when foreign currencies in which
the Fund invests are
weak. The value of foreign currencies as measured in U.S.
dollars may be unpredictably affected by changes in foreign
currency rates and exchange control regulations, application
of foreign tax laws, governmental administration of economic
or monetary policies, intervention by U.S. or foreign
governments or central banks, and relations between nations.
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. The value of commodities investments
will generally be affected by overall market movements and
factors specific to a particular industry or commodity,
including weather, embargoes, tariffs, or health, political,
international and regulatory developments. Derivatives
instruments can be used to take both long and short
positions, be highly volatile, result in economic leverage
(which can magnify losses), and involve risks in addition to
the risks of the underlying instrument on which the
derivative is based, such as counterparty, correlation and
liquidity risk. If a counterparty is unable to honor its
commitments, the value of Fund shares may decline and/or the
Fund could experience delays in the return of collateral or
other assets held by the counterparty. Diversification cannot
assure a profit or eliminate the risk of loss.
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.
Primary Eaton Vance Parametric Structured Currency Fund
Risks: The value of the Fund's foreign currency
investments increase in value when the U.S. dollar is weak or
when foreign currencies in which the Fund invests are strong.
The value of the Fund's investments will go down when
the U.S. dollar is strong or when foreign currencies in which
the Fund invests are weak. The value of foreign currencies as
measured in U.S. dollars may be unpredictably affected by
changes in foreign currency rates and exchange control
regulations, application of foreign tax laws, governmental
administration of economic or monetary policies, intervention
by U.S. or foreign governments or central banks, and
relations between nations. 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. Derivatives instruments can be used to take both
long and short positions, be highly volatile, result in
economic leverage (which can magnify losses), and involve
risks in addition to the risks of the underlying instrument
on which the derivative is based, such as counterparty,
correlation and liquidity risk. If a counterparty is unable
to honor its commitments, the value of Fund shares may
decline and/or the Fund could experience delays in the return
of collateral or other assets held by the counterparty. While
certain U.S. government-sponsored agencies may be chartered
or sponsored by acts of Congress, their securities are
neither issued nor guaranteed by the U.S. Treasury. 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 prospectusfor a complete description.
Mutual fund shares are not insured by the FDIC and are not
deposits or other obligations of, or guaranteed by, any
depository institution. Shares are subject to investment
risks, including possible loss of principal invested.
The Fund is distributed by Eaton Vance Distributors, Inc.,
Two International Place, Boston, MA 02110.
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