BOSTON, Jan. 31, 2013 /PRNewswire/ -- Eaton Vance Management (Eaton Vance), a subsidiary of Eaton Vance Corp. (NYSE: EV), today announced the launch of Eaton Vance Bond Fund (Class A: EVBAX, Class C: EVBCX, Class I: EVBIX), a non-diversified mutual fund seeking total return, managed by a team led by Kathleen Gaffney, CFA, Vice President of Eaton Vance and Co-Director of Eaton Vance's Investment Grade Fixed Income Department. Eaton Vance Bond Fund employs bottom-up security selection and a multi-sector approach to investing across the income markets. Investments may include U.S. investment grade and high yield bonds, floating-rate bank loans, non-U.S. sovereign and corporate debt, convertible securities and preferred stocks. Under normal market conditions, the Fund invests at least 80 percent of its net assets in bonds and other income instruments, and may invest up to 20 percent of its net assets in common stocks. The Fund may invest up to 35 percent of its net assets in bonds and other income instruments rated below investment grade. In addition to Ms. Gaffney, the Fund's portfolio managers are Stephen Concannon, CFA, Vice President of Eaton Vance and High Yield Portfolio Manager, and Michael Turgel, CFA/CPA, Vice President of Eaton Vance and Senior Bank Loan Credit Analyst. "Investors today are looking for ways to maximize return while managing risk," said Payson F. Swaffield, CFA, Eaton Vance's Chief Income Investment Officer. "We are pleased to bring the Eaton Vance Bond Fund to the market to further expand our solution set for clients. The Fund's multi-sector investment approach can provide important diversification to clients' income portfolios." 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. About Risk: An imbalance in 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 (typically referred to as unk are generally subject to greater price volatility and illiquidity than higher rated investments. 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. In emerging countries, these risks may be more significant. As interest rates rise, the value of certain income investments is likely to decline. Commercial mortgage-backed securities (MBS are subject to credit, interest rate, prepayment and extension risks. Investments in income securities may be affected by changes in the creditworthiness of the issuer and are subject to the risk of nonpayment of principal and interest. The value of income securities also may decline because of real or perceived concerns about the issuer ability to make principal and interest payments. 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. There can be no assurance that the liquidation of collateral securing an investment will satisfy the issuer obligation in the event of nonpayment or that collateral can be readily liquidated. The ability to realize the benefits of any collateral may be delayed or limited. Fund share values are sensitive to stock market volatility. 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. A nondiversified fund may be subject to greater risk by investing in a smaller number of investments than a diversified fund. 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.