EATON VANCE TAX-MANAGED BUY-WRITE INCOME FUND BOSTON, April 7, 2015 /PRNewswire/ -- Eaton Vance Tax-Managed Buy-Write Income Fund (NYSE: ETB), a closed-end management investment company, today announced the earnings of the Fund for the three months and year ended December 31, 2014. The Fund's fiscal year ended on December 31, 2014.
For the three months ended December 31, 2014, the Fund had net investment income of $1,087,118 ($0.044 per share). For the year ended December 31, 2014, the Fund had net investment income of $4,185,502 ($0.170 per share). In comparison, for the three months ended December 31, 2013, the Fund had net investment income of $1,214,577 ($0.049 per share). For the year ended December 31, 2013, the Fund had net investment income of $4,535,374 ($0.184 per share).
Net realized and unrealized gains for the three months ended December 31, 2014 were $6,541,603 ($0.265 per share). Net realized and unrealized gains for the year ended December 31, 2014 were $29,242,950 ($1.186 per share). In comparison, Net realized and unrealized gains for the three months ended December 31, 2013 were $22,896,716 ($0.926 per share). Net realized and unrealized gains for the year ended December 31, 2013 were $60,766,176 ($2.462 per share).
On December 31, 2014, net assets of the Fund were $402,145,402. The net asset value per share on December 31, 2014 was $16.31 based on 24,656,759 shares outstanding. In comparison, on December 31, 2013, net assets of the Fund were $400,633,347. The net asset value per share on December 31, 2013 was $16.25 based on 24,654,545 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 month-end are also posted to the website approximately 30 days following month-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 $295.7 billion in assets as of January 31, 2015, offering individuals and institutions a broad array of investment strategies and wealth management solutions. The Company's long record of providing exemplary service, timely innovation 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 TAX-MANAGED BUY-WRITE INCOME FUND
SUMMARY OF RESULTS OF OPERATIONS
(in thousands, except per share amounts)
Three Months Ended Year Ended
December 31, December 31,
------------ ------------
2014 2013 2014 2013
---- ---- ---- ----
Gross investment income $2,212 $2,336 $8,707 $8,963
Operating expenses (1,124) (1,122) (4,521) (4,428)
------ ------ ------ ------
Net investment income $1,088 $1,214 $4,186 $4,535
Net realized and unrealized gains (losses)
on investments $6,542 $22,896 $29,243 $60,766
------ ------- ------- -------
Net increase (decrease) in net
assets
from operations $7,630 $24,110 $33,429 $65,301
Earnings per Share Outstanding
------------------------------
Gross investment income $0.089 $0.095 $0.353 $0.364
Operating expenses (0.045) (0.046) (0.183) (0.180)
------ ------ ------ ------
Net investment income $0.044 $0.049 $0.170 $0.184
Net realized and unrealized gains (losses)
on investments $0.265 $0.926 $1.186 $2.462
------ ------ ------ ------
Net increase (decrease) in net
assets
from operations $0.309 $0.975 $1.356 $2.646
Net Asset Value at December 31
------------------------------
Net assets $402,145 $400,633
Shares outstanding 24,657 24,655
Net asset value per share
outstanding $16.31 $16.25
Market Value Summary
--------------------
Market price on NYSE at December 31 $15.90 $14.89
High market price (period ended December
31) $16.60 $15.58
Low market price (period ended December
31) $14.40 $14.06
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SOURCE Eaton Vance Management
