Eaton Vance Fund To Invest In CMBS

Mortgages

The Associated Press

03/24/09 - 12:45 PM EDT

BOSTON (AP) A fund managed by Eaton Vance Management will expand its pool of investments to include commercial mortgage-backed securities.

Eaton Vance Ltd. Duration Income Fund, a diversified investment company, said Tuesday that its trustees recently approved commercial mortgage-backed securities as a permitted investment. CMBS are securities backed by mortgage loans on commercial real estate property.

The fund currently invests at least 50 percent of its assets in mortgage-backed securities and speculative-grade investments, which includes senior loans and high-yield bonds.

Eaton Vance Management is a subsidiary of Eaton Vance Corp.

Shares of the fund slipped 19 cents to $10.41 in midday trading.

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