BOSTON, Nov. 10, 2020 /PRNewswire/ -- As previously
announced on October 8, 2020, Morgan
Stanley (NYSE: MS) and Eaton Vance Corp. ("Eaton Vance") (NYSE: EV)
entered into a definitive agreement under which Morgan Stanley will
acquire Eaton Vance (the "Transaction"). The acquisition is
subject to the completion or waiver of customary closing
conditions, and is expected to close in the second quarter of
2021. Eaton Vance Management is a wholly-owned subsidiary of
Eaton Vance and investment adviser to each of the following
closed-end funds:
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Eaton Vance
California Municipal Bond Fund (NYSE American: EVM)
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Eaton Vance
California Municipal Income Trust (NYSE American: CEV )
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Eaton Vance Enhanced
Equity Income Fund (NYSE: EOI)
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Eaton Vance Enhanced
Equity Income Fund II (NYSE: EOS)
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Eaton Vance
Floating-Rate Income Trust (NYSE: EFT)
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Eaton Vance
Floating-Rate 2022 Target Term Trust (NYSE: EFL)
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Eaton Vance High
Income 2021 Target Term Trust (NYSE: EHT)
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Eaton Vance Limited
Duration Income Fund (NYSE American: EVV)
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Eaton Vance Municipal
Bond Fund (NYSE American: EIM)
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Eaton Vance Municipal
Income 2028 Term Trust (NYSE: ETX)
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Eaton Vance Municipal
Income Trust (NYSE: EVN)
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Eaton Vance National
Municipal Opportunities Trust (NYSE: EOT)
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Eaton Vance New York
Municipal Bond Fund (NYSE American: ENX)
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Eaton Vance New York
Municipal Income Trust (NYSE American: EVY)
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Eaton Vance
Risk-Managed Diversified Equity Income Fund (NYSE: ETJ)
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Eaton Vance Senior
Floating-Rate Trust (NYSE: EFR)
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Eaton Vance Senior
Income Trust (NYSE: EVF)
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Eaton Vance Short
Duration Diversified Income Fund (NYSE: EVG)
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Eaton Vance
Tax-Advantaged Dividend Income Fund (NYSE: EVT)
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Eaton Vance
Tax-Advantaged Global Dividend Income Fund (NYSE:
ETG)1
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Eaton Vance
Tax-Advantaged Global Dividend Opportunities Fund (NYSE:
ETO)1
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Eaton Vance
Tax-Managed Buy-Write Income Fund (NYSE:
ETB)1
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Eaton Vance
Tax-Managed Buy-Write Opportunities Fund (NYSE:
ETV)1
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Eaton Vance
Tax-Managed Diversified Equity Income Fund (NYSE: ETY)
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Eaton Vance
Tax-Managed Global Buy-Write Opportunities Fund (NYSE:
ETW)1
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Eaton Vance
Tax-Managed Global Diversified Equity Income Fund (NYSE:
EXG)1
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Eaton Vance
Tax-Managed Buy-Write Strategy Fund (NYSE:
EXD)1
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(each, a "Fund" and
collectively, the "Funds")
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Pursuant to the Investment Company Act of 1940, as amended, the
consummation of the acquisition of Eaton Vance may be deemed to
result in the automatic termination of each Fund's investment
advisory agreement with Eaton Vance Management and, where
applicable, any related sub-advisory agreement. Therefore,
each Fund's Board of Trustees has approved a new investment
advisory agreement and, where applicable, a new sub-advisory
agreement to be effective upon consummation of the
Transaction. Each Fund's new investment advisory agreement
and, where applicable, new sub-advisory agreement will be presented
to Fund shareholders for approval at a joint special meeting of
shareholders to be held on January 7,
2021. Shareholders of record of each Fund at the close of
business on October 29, 2020 who have
voting power with respect to such shares are entitled to be present
and to vote at the meeting.
In connection with the proposal to approve a new investment
advisory agreement for each Fund and, where applicable, a new
sub-advisory agreement, each Fund intends to file a definitive
proxy statement with the U.S. Securities and Exchange Commission
(the "SEC"). Shareholders are advised to read their Fund's proxy
statement when available, as it will contain important information.
When filed with the SEC, the proxy statement and other documents
filed by the Funds will be available free of charge on the SEC
website, www.sec.gov. Copies of the proxy statement also will be
mailed to each shareholder of record as of the record date for the
joint special shareholder meeting.
Eaton Vance provides advanced investment strategies and wealth
management solutions to forward-thinking investors around the
world. Through principal investment affiliates Eaton Vance
Management, Parametric, Atlanta Capital, Hexavest, and Calvert, the
Company offers a diversity of investment approaches, encompassing
bottom-up and top-down fundamental active management, responsible
investing, systematic investing, and customized implementation of
client-specified portfolio exposures. As of September 30, 2020, Eaton Vance had consolidated
assets under management of $517.0
billion. For more information, visit eatonvance.com.
Fund shares are subject to investment risk, including possible
loss of principal invested. No Fund is a complete investment
program, and you may lose money investing therein. An investment in
a Fund may not be appropriate for all investors. Before investing,
prospective investors should consider carefully a Fund's investment
objective, risks, charges, and expenses.
This press release is for informational purposes only and is
not intended to, and does not, constitute an offer to purchase or
sell shares of a Fund. Additional information about the Funds,
including performance and portfolio characteristic information, is
available at www.eatonvance.com.
Statements in this press release that are not historical
facts are forward-looking statements as defined by the U.S.
securities laws. You should exercise caution in interpreting and
relying on forward-looking statements because they are subject to
uncertainties and other factors that are, in some cases, beyond a
Fund's control and could cause actual results to differ materially
from those set forth in the forward-looking statements.
1 ETG, ETO, and EXG are sub-advised by Eaton
Vance Advisers International Ltd. ("EVAIL"). ETB, ETV, ETW,
and EXD are sub-advised by Parametric Portfolio Associates LLC
("Parametric"). EVAIL and Parametric are each indirect,
wholly-owned subsidiaries of Eaton Vance.
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SOURCE Eaton Vance Management