BOSTON, Aug. 5, 2021 /PRNewswire/ -- As previously
announced, shareholders of Eaton Vance New York Municipal Income
Trust (NYSE American: EVY) (the "Fund") have voted to approve the
liquidation and termination of the Fund pursuant to the Plan of
Liquidation and Termination (the "Plan") adopted by the Board of
Trustees of the Fund.
The Fund expects that, for purposes of the liquidation, the
proportionate interests of shareholders in the net assets of the
Fund will be fixed on the basis of their respective holdings as of
the close of business on August 20,
2021 (the "Liquidation Date"). The Fund expects the
last day of secondary market trading of the Fund's shares will also
be on or about the Liquidation Date, and that the Fund will cease
trading on the NYSE American prior to the opening of business on
August 23, 2021.
Pursuant to the Plan, the Fund will liquidate its portfolio in
preparation for a final distribution of cash to the shareholders of
the Fund. Once the Fund commences liquidating its portfolio,
the Fund may not pursue its stated investment objective, comply
with its investment limitations or engage in normal business
activities, except for the purposes of winding up its business and
affairs, paying its liabilities and distributing its remaining
assets to shareholders.
In connection with the Plan, all shares of the Fund outstanding
as of the close of business on the Liquidation Date will be
redeemed without the imposition of any redemption or other
transaction fees. The proceeds of such redemption will equal the
net asset value of such shares after the Fund has paid or provided
for all of its charges, taxes, expenses and liabilities, including
certain costs associated with liquidating the Fund. As previously
announced, the Fund's regular August distribution will be made on
or about August 19, 2021. The
liquidation proceeds are expected to be distributed to shareholders
on or about August 25,
2021.
The Fund expects that shareholders will be able to sell their
Fund shares in the secondary market until the market close on the
Liquidation Date. Customary brokerage charges may apply to such
transactions. The Fund expects that, effective as of market close
on or about the Liquidation Date, the Fund's shares will no longer
be actively traded in the secondary market, and there can be no
assurance that there will thereafter be a market for the purchase
or sale of the Fund's shares.
Although the liquidation is not expected to be a taxable event
for the Fund, the redemption of shares of the Fund will generally
be treated as a sale by shareholders for federal income tax
purposes. Please consult your personal tax advisor about the
potential tax consequences of the liquidation.
If you have any questions regarding the liquidation, please
contact the Fund at 1-800-262-1122.
Eaton Vance applies in-depth fundamental analysis to the active
management of equity, income, alternative and multi-asset
strategies. Eaton Vance's investment teams follow time-tested
principles of investing that emphasize ongoing risk management, tax
management (where applicable) and the pursuit of consistent
long-term returns. The firm's investment capabilities encompass the
global capital markets. With a history dating back to 1924, Eaton
Vance is headquartered in Boston
and also maintains investment offices in New York, London, Tokyo
and Singapore. For more
information, visit evmanagement.com. Eaton Vance is a part of
Morgan Stanley Investment Management, the asset management division
of Morgan Stanley.
Shares of closed-end funds often trade at a discount from their
net asset value. The market price of Fund shares may vary from net
asset value based on factors affecting the supply and demand for
shares, such as Fund distribution rates relative to similar
investments, investors' expectations for future distribution
changes, the clarity of the Fund's investment strategy and future
return expectations, and investors' confidence in the underlying
markets in which the Fund invests. Fund shares are subject to
investment risk, including possible loss of principal invested. The
Fund is not a complete investment program and you may lose money
investing therein. An investment in the Fund may not be appropriate
for all investors. Before investing, prospective investors should
consider carefully the Fund's investment objective, strategies,
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 the Fund. Additional information about the Fund,
including performance and portfolio characteristic information, is
available at eatonvance.com.
Statements in this press release that are not historical
facts may be 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 may be beyond the Fund's
control and could cause actual results to differ materially from
those set forth in the forward-looking statements.
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SOURCE Eaton Vance Management