Eaton Vance Reshuffles Two Funds' Mandates

November 4, 2003 ( - Two Eaton Vance mutual funds are getting broader investing mandates.

Eaton Vance Management announced that:

  • Eaton Vance Information Age Fund, a global equity fund, will expand its investment universe to encompass all types of growth companies and change its name to Eaton Vance Global Growth Fund.
  • Eaton Vance Balanced Fund, which currently invests in Eaton Vance’s Capital Growth Portfolio and Investment Grade Income Portfolio, will have the ability to also invest in Eaton Vance’s Large-Cap Value Portfolio.

Since its inception in 1995, Eaton Vance Information Age Fund has invested in a global and diversified portfolio of common stocks of information related companies expected to grow in value. Removing the limitation that 80% of the Fund be invested in “information age” companies will permit a broader universe of growth companies to be considered by the managers, according to the announcement.

In connection with the change, Arieh Coll will become the portfolio manager for the North American portion of the Fund’s assets. Coll is a Vice President of Eaton Vance Management and portfolio manager of Eaton Vance Tax-Managed Multi-Cap Opportunity Fund and Eaton Vance Growth Fund. The changes in Eaton Vance Information Age Fund will be implemented around January 1, 2004.

Meanwhile, Eaton Vance Balanced Fund’s investment objective is to provide current income and long-term growth of capital. The Fund invests in both equity and fixed-income securities. As of September 30, 2003, 67.7% of the Fund’s net assets were invested in Capital Growth Portfolio and 32.3% of its net assets were invested in Investment Grade Income Portfolio. Adding the Large-Cap Value Portfolio to the Fund’s choice of investments will allow the Fund to balance its investments not only between equity and fixed income investments, but also between growth and value equity investments, the announcement said.

The change to Eaton Vance Balanced Fund’s investment options will be implemented at the discretion of the Fund’s portfolio managers. In connection with this change, Michael Mach will become a co-manager of the Fund with Arieh Coll and Elizabeth Kenyon, current co-managers.