BOSTON, Jan. 19, 2012 /PRNewswire/ -- 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.
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 prospectus
for a complete description.
Before investing, investors should consider carefully the
investment objective, risks, charges and expenses of a mutual fund.
This and other important information is contained in the prospectus
and summary prospectus, which can be obtained from a financial
advisor. Prospective investors should read the prospectus carefully
before investing.
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.
SOURCE Eaton Vance Management