BOSTON, Nov. 15, 2013 /PRNewswire/ -- Eaton Vance Management (EVM), a subsidiary of Eaton Vance Corp. (NYSE: EV), today announced the launch of Eaton Vance Short Duration High Income Fund (Class A: ESHAX, Class I: ESHIX), the latest addition to the firm's line-up of short duration income funds. The Fund is managed by Michael Weilheimer, CFA, Vice President and Director of High Yield Investments at EVM. Under normal conditions, the Fund invests primarily in income instruments rated below investment grade, including floating-rate loans and convertible securities. The Fund intends to maintain a dollar-weighted average duration of three years or less and is managed toward an objective of total return.
Separately, EVM announced the appointment of Andrew P. Szczurowski, CFA, Vice President of EVM, as co-portfolio manager of Eaton Vance Short Duration Strategic Income Fund, joining Eric A. Stein, CFA, Vice President and Co-Director of EVM's Global Income group.
Eaton Vance now offers a comprehensive suite of short duration income funds, which includes the following offerings:
- Eaton Vance Short Duration High Income Fund (Class A: ESHAX, Class I: ESHIX);
- Eaton Vance Short Duration Strategic Income Fund (Class A: ETSIX, Class B: EVSGX, Class C: ECSIX, Class I: ESIIX, Class R: ERSIX)—formerly Eaton Vance Strategic Income Fund;
- Eaton Vance Short Duration Real Return Fund (Class A: EARRX, Class C: ECRRX, Class I: EIRRX)—formerly Eaton Vance Short Term Real Return Fund; and
- Eaton Vance Short Duration Government Income Fund (Class A: EALDX, Class B: EBLDX, Class C: ECLDX, Class I: EILDX) —formerly Eaton Vance Low Duration Government Income Fund.
"We are pleased to offer a range of short duration income strategies to help investors meet their income needs while managing exposure to interest rate risk," said Payson F. Swaffield, CFA, Vice President and Chief Income Investment Officer of EVM.EVM is a wholly owned subsidiary of Eaton Vance Corp., one of the oldest investment management firms in the United States, with a history dating back to 1924. Eaton Vance and its affiliates managed $273.1 billion in assets as of September 30, 2013, 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 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. About Risk: An imbalance of supply and demand in the income market may result in valuation uncertainties and greater volatility, less liquidity, widening credit spreads and a lack of price transparency in the market. Investments rated below investment grade (sometimes referred to as "junk" investments) are generally subject to greater price volatility and illiquidity than higher-rated investments. As interest rates rise, the value of fixed income investments generally declines. No Fund is a complete investment program and you may lose money investing in a Fund. Regulatory changes may adversely affect securities markets and market participants, as well as a Fund's ability to implement its strategy. A Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.