BOSTON, Dec. 23, 2013 /PRNewswire/ -- Eaton Vance
Management ("EVM"), a wholly owned subsidiary of Eaton Vance Corp.
("Eaton Vance"), today announced that, effective January 1, 2014, the portfolio manager of the
Funds listed below will be as follows:
Fund
|
New
Manager
|
Eaton Vance National
Municipal Opportunities Trust (NYSE: EOT)
|
Cynthia J.
Clemson
|
Eaton Vance Municipal
Income Term Trust (NYSE: ETX)
|
Thomas M.
Metzold
|
Eaton Vance
California Municipal Bond Fund (NYSE MKT: EVM)
|
Craig R.
Brandon
|
Eaton Vance
California Municipal Bond Fund II (NYSE MKT: EIA)
|
Craig R.
Brandon
|
Eaton Vance
California Municipal Income Trust (NYSE MKT: CEV)
|
Craig R.
Brandon
|
Ms. Clemson and Messrs. Metzold and
Brandon are Vice Presidents of EVM, with 28, 26 and 18 years of
experience, respectively, as members of EVM's Boston Municipals
Group. Ms. Clemson has been Co-Director of the Boston
Municipals Group since 2005. She will be joined in that role
by Mr. Brandon effective January 1,
2014, at which time Mr. Metzold becomes a Senior Portfolio
Advisor within the Group. Ms. Clemson and Messrs. Metzold and
Brandon also manage or co-manage other EVM municipal income
portfolios.
Eaton Vance Municipal Income Term Trust (the "Fund") is not
currently permitted to invest more than 5% of its total assets in
any one issuer. Effective January 31,
2014, the Fund will be permitted, with respect to 25% of its
total assets, to invest more than 5% in any one issuer. As a
result of this change, for a subset of its total assets, the Fund
will be permitted to invest a greater percentage of its assets in
the securities of a single issuer than under its current
policy.
Eaton Vance (NYSE: EV) is one of the oldest investment
management firms in the United
States with a history dating back to 1924. Eaton Vance and
its affiliates managed $280.7 billion
in assets as of October 31, 2013,
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.
Shares of closed-end funds often trade at a discount to net
asset value. The market price of Fund shares can be affected by
factors such as changing perceptions about the Fund, market
conditions, fluctuations in supply and demand for Fund shares, or
changes in Fund distributions. 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 in a Fund. An investment in a Fund may not be appropriate
for all investors.
SOURCE Eaton Vance Management