WASHINGTON, Jan. 11, 2018 /PRNewswire/ -- Calvert
Research and Management (Calvert), a subsidiary of Eaton Vance
Corp. (Eaton Vance), announced today the launch of Calvert
Ultra-Short Duration Income NextShares (Nasdaq: CRUSC) (the Fund),
a new exchange-traded managed fund. The Fund seeks to maximize
income, consistent with preservation of capital, by investing in
short-term bonds and other income-producing securities. In
selecting investments for the Fund, Calvert is guided by the
Calvert Principles for Responsible Investment, which provide a
framework for considering environmental, social and governance
factors.
"We believe offering the Calvert Ultra-Short Duration Income
strategy in a NextShares structure meets investor demand for
innovative, responsible investment solutions that also address
investors' investment challenges," said John Streur, President and Chief Executive
Officer of Calvert. "Calvert is dedicated to helping investors
achieve both a positive impact on society and favorable investment
results with efficient, innovative and responsible
investments."
NextShares are an innovative way to invest in actively managed
strategies across fund asset classes, offering the potential for
benchmark-beating returns by applying their manager's proprietary
investment research. As exchange-traded products, NextShares may
offer cost and tax efficiencies that can enhance shareholder
returns. The first NextShares funds began trading on the Nasdaq
Stock Market LLC in early 2016.
"We are pleased to partner with Calvert to expand the
distribution of NextShares to investors looking for responsibly
invested strategies," said Stephen W.
Clarke, President of NextShares Solutions.
About Calvert Research and Management
Calvert Research and Management is a leader in Responsible
Investing, with approximately $12.9
billion of mutual fund and separate account assets under
management as of October 31, 2017.
The company traces its roots to Calvert Investments, which was
founded in 1976 and in 1982 became the first fund family to launch
a mutual fund to avoid investment in companies doing business in
apartheid-era South Africa. Today,
the Calvert Funds are one of the largest and most diversified
families of responsibly invested mutual funds, encompassing
actively and passively managed U.S. and international equity,
income and asset allocation funds. For more information, visit
calvert.com.
About NextShares Solutions and Eaton Vance
NextShares Solutions is a wholly owned subsidiary of Eaton Vance
formed to develop and commercialize NextShares. Aspects of the
operation of NextShares are protected intellectual property owned
by NextShares Solutions. For more information, visit
nextshares.com.
Eaton Vance (NYSE: EV) is a leading global asset manager whose
history dates to 1924. With offices in North America, Europe, Asia
and Australia, Eaton Vance and its
affiliates managed $422.3 billion as
of October 31, 2017 offering
individuals and institutions a broad array of investment strategies
and wealth management solutions. For more information, visit
eatonvance.com.
About Risk: As interest rates rise, the value of certain income
investments is likely to decline. 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's ability to make
principal and interest payments. 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.
The information contained herein is provided for informational
purposes only, is not intended as investment or tax advice, and
does not constitute a solicitation of an offer to buy or sell
specific securities.
About NextShares: Shares of NextShares funds are normally bought
and sold in the secondary market through a broker, and may not be
individually purchased or redeemed from the fund. In the secondary
market, buyers and sellers transact with each other, rather than
with the fund. NextShares funds issue and redeem shares only in
specified creation unit quantities in transactions by or through
Authorized Participants. In such transactions, a fund issues and
redeems shares in exchange for the basket of securities, other
instruments and/or cash that the fund specifies each business day.
By transacting in kind, a NextShares fund can lower its trading
costs and enhance fund tax efficiency by avoiding forced sales of
securities to meet redemptions. Redemptions may be effected
partially or entirely in cash when in-kind delivery is not
practicable or deemed not in the best interests of shareholders. A
fund's basket is not intended to be representative of the fund's
current portfolio positions and may vary significantly from current
positions. As exchange-traded securities, NextShares can operate
with low transfer agency expenses by utilizing the same highly
efficient share processing system as used for exchange-listed
stocks and ETFs.
Market trading prices of NextShares are linked to the fund's
next-computed net asset value (NAV) and will vary from NAV by a
market-determined premium or discount, which may be zero. Buyers
and sellers of NextShares will not know the value of their
purchases and sales until after the fund's NAV is determined at the
end of the trading day. Market trading prices may vary
significantly from anticipated levels. NextShares do not offer
investors the opportunity to buy and sell intraday based on current
(versus end-of-day) determinations of fund value. NextShares trade
execution prices will fluctuate based on changes in NAV. Although
limit orders may be used to control trading costs, they cannot be
used to control or limit trade execution prices. As a new type of
fund, NextShares have a limited operating history and may initially
be available through a limited number of brokers. There can be no
guarantee that an active trading market for NextShares will develop
or be maintained, or that their listing will continue unchanged.
Buying and selling NextShares may require payment of brokerage
commissions and expose transacting shareholders to other trading
costs. Frequent trading may detract from realized investment
returns. The return on a shareholder's NextShares investment will
be reduced if the shareholder sells shares at a greater discount or
narrower premium to NAV than he or she acquired the shares.
Before investing in a NextShares fund, investors should
consider carefully its investment objectives, risks, charges and
expenses. This and other important information is contained in the
fund's prospectus and summary prospectus, which can be
obtained from a financial advisor. Prospective investors should
read the prospectus carefully before investing.
Calvert NextShares distributed by Foreside Fund Services,
LLC.
NextShares™ is a trademark of NextShares Solutions
LLC. All rights reserved. Used with permission.
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SOURCE Calvert Research and Management