Overview

Approach has helped lead to top of peer group performance.1

As of 12/31/2014

Average Annual Returns (%) as of Dec 31, 2014

1 Month 3 Months YTD 1 Year 3 Years 5 Years Life of Fund
02/28/2015
Fund at NAV 2.32 -0.70 1.26 2.75 7.28
Fund w/Max Sales Charge -2.56 -5.44 -3.51 -2.12 4.79
Barclays U.S. Government/Credit Bond Index2 -1.27 1.41 1.33 5.23 2.89 4.57 2.73
12/31/2014
Fund at NAV -1.94 -1.29 4.69 4.69 7.22
Fund w/Max Sales Charge -6.62 -6.01 -0.32 -0.32 4.52
Barclays U.S. Government/Credit Bond Index2 0.08 1.82 6.01 6.01 2.75 4.69 2.25
Past performance is no guarantee of future results. Investment return and principal value will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Performance is for the stated time period only; due to market volatility, the Fund's current performance may be lower or higher than quoted. Returns are historical and are calculated by determining the percentage change in net asset value (NAV) with all distributions reinvested. Returns for other classes of shares offered by the Fund are different. Performance less than one year is cumulative. Max Sales Charge: 4.75%.

Fund Facts as of Jan 31, 2015

Class A Inception 01/31/2013
Investment Objective Total return
Total Net Assets $1.9B
Minimum Investment $1000
Expense Ratio3 0.94%
CUSIP 277905246

Top 10 Issuers (%)4 as of Dec 31, 2014

Mexican Bonos
Ryland Group Inc.
KB Home
Canada Housing Trust
SLM Corp.
Western Union Co-Global
Inter-American Development Bank
JC Penney Corp.
Canadian Government
Constellation Brands Inc.-A
Total 20.01


Portfolio Management

Kathleen C. Gaffney, CFA Managed Fund since inception
Stephen C. Concannon, CFA Managed Fund since inception
Henry Peabody, CFA Managed Fund since 2014
Michael J. Turgel, CFA Managed Fund since inception

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding. Fund primarily invests in one or more affiliated investment companies (Portfolios) and may also invest directly. Unless otherwise noted, references to investments are to the aggregate holdings of the Fund, including its pro rata share of each Portfolio or Fund in which it invests.

About Risk 

An imbalance in supply and demand in the income market may result in valuation uncertainties and greater volatility, less liquidity, widening credit spreads and a lack of price transparency in the market. Investments rated below investment grade (typically referred to as "junk") are generally subject to greater price volatility and illiquidity than higher-rated investments. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical or other conditions. In emerging countries, these risks may be more significant. As interest rates rise, the value of certain income investments is likely to decline. Bank loans are subject to prepayment risk. 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. Convertible securities may react to changes in the value of the common stock into which they convert, and are thus subject to the risks of investing in equities. When interest rates rise, the value of preferred stocks will generally decline. Fund share values are sensitive to stock market volatility. A nondiversified fund may be subject to greater risk by investing in a smaller number of investments than a diversified fund. 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.


Performance

Average Annual Returns (%) as of Dec 31, 2014

1 Month 3 Months YTD 1 Year 3 Years 5 Years Life of Fund
01/31/2015
Fund at NAV -1.04 -3.23 -1.04 3.87 6.35
Fund w/Max Sales Charge -5.70 -7.82 -5.70 -1.03 3.78
Barclays U.S. Government/Credit Bond Index2 2.64 3.48 2.64 7.24 3.28 4.92 3.49
Morningstar™ Multisector Bond Category5 0.76 -0.20 0.76 3.84 5.00 6.46
12/31/2014
Fund at NAV -1.94 -1.29 4.69 4.69 7.22
Fund w/Max Sales Charge -6.62 -6.01 -0.32 -0.32 4.52
Barclays U.S. Government/Credit Bond Index2 0.08 1.82 6.01 6.01 2.75 4.69 2.25
Morningstar™ Multisector Bond Category5 -0.98 -0.37 3.63 3.63 5.62 6.57
Past performance is no guarantee of future results. Investment return and principal value will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Performance is for the stated time period only; due to market volatility, the Fund's current performance may be lower or higher than quoted. Returns are historical and are calculated by determining the percentage change in net asset value (NAV) with all distributions reinvested. Returns for other classes of shares offered by the Fund are different. Performance less than one year is cumulative. Max Sales Charge: 4.75%.

Calendar Year Returns (%)

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Fund at NAV 4.69
Barclays U.S. Government/Credit Bond Index2 2.37 3.78 7.23 5.70 4.52 6.59 8.74 4.82 -2.35 6.01

Fund Facts

Expense Ratio3 0.94%
Class A Inception 01/31/2013
Distribution Frequency Monthly

Yield Information6 as of Jan 31, 2015

Distribution Rate at NAV 3.24%
SEC 30-day Yield 3.71%


NAV History

Date NAV NAV Change
Mar 02, 2015 $10.77 $-0.03
Feb 27, 2015 $10.80 $0.00
Feb 26, 2015 $10.80 $-0.06
Feb 25, 2015 $10.86 $0.00
Feb 24, 2015 $10.86 $0.06
Feb 23, 2015 $10.80 $-0.02
Feb 20, 2015 $10.82 $0.03
Feb 19, 2015 $10.79 $-0.02
Feb 18, 2015 $10.81 $0.00
Feb 17, 2015 $10.81 $0.01

Distribution History7

Ex-Date Distribution Reinvest NAV
Feb 26, 2015 $0.02560 $10.80
Jan 29, 2015 $0.02860 $10.62
Dec 30, 2014 $0.03240 $10.74
Nov 26, 2014 $0.02930 $11.05
Oct 30, 2014 $0.03260 $10.94
Sep 29, 2014 $0.02270 $10.98
Aug 28, 2014 $0.02440 $11.32
Jul 30, 2014 $0.03040 $11.29
Jun 27, 2014 $0.03040 $11.33
May 29, 2014 $0.03330 $11.17
View All
No records in this table indicates that there has not been a distribution greater than .0001 within the past 3 years.
Fund prospectus

Capital Gain History7

Ex-Date Short-Term Long-Term Reinvest NAV
Dec 30, 2014 $0.00030 $0.00500 $10.74
Dec 30, 2013 $0.02760 $0.00100 $10.56
No records in this table indicates that there has not been a capital gain greater than .0001 within the past 3 years.
Fund prospectus

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding. Fund primarily invests in one or more affiliated investment companies (Portfolios) and may also invest directly. Unless otherwise noted, references to investments are to the aggregate holdings of the Fund, including its pro rata share of each Portfolio or Fund in which it invests.

About Risk 

An imbalance in supply and demand in the income market may result in valuation uncertainties and greater volatility, less liquidity, widening credit spreads and a lack of price transparency in the market. Investments rated below investment grade (typically referred to as "junk") are generally subject to greater price volatility and illiquidity than higher-rated investments. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical or other conditions. In emerging countries, these risks may be more significant. As interest rates rise, the value of certain income investments is likely to decline. Bank loans are subject to prepayment risk. 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. Convertible securities may react to changes in the value of the common stock into which they convert, and are thus subject to the risks of investing in equities. When interest rates rise, the value of preferred stocks will generally decline. Fund share values are sensitive to stock market volatility. A nondiversified fund may be subject to greater risk by investing in a smaller number of investments than a diversified fund. 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.


Portfolio

Asset Mix (%)4 as of Dec 31, 2014

Equities 19.7
Convertibles 15.0
Investment Grade Credit 14.1
High Yield Credit 13.4
Non-US Dollar Bonds Emerging Markets 11.0
Cash/Reserves 9.1
Non-US Dollar Bonds Developed Countries 9.0
Securitized 5.4
Preferreds 2.8
Floating-Rate Loans 0.3
Municipals 0.3
Total 100.0

Portfolio Statistics as of Dec 31, 2014

Number of Issuers 109
Number of Holdings 141
Average Price $92.97
Effective Duration 4.10 yrs.
Average Coupon 5.26%
Average Maturity 13.96 yrs.


Credit Quality (%)4,8 as of Dec 31, 2014

AAA 22.45
AA 0.46
A 5.24
BBB 20.38
BB 11.91
B 8.99
CCC or Lower 8.60
Not Rated 0.62
Equity/Other 21.34
Total 100.00
Ratings are based on Moody's, S&P or Fitch, as applicable. If securities are rated differently by the ratings agencies, the higher rating is applied. Ratings, which are subject to change, apply to the creditworthiness of the issuers of the underlying securities and not to the Fund or its shares. Credit ratings measure the quality of a bond based on the issuer's creditworthiness, with ratings ranging from AAA, being the highest, to D, being the lowest based on S&P's measures. Ratings of BBB or higher by S&P or Fitch (Baa or higher by Moody's) are considered to be investment-grade quality. Credit ratings are based largely on the ratings agency's analysis at the time of rating. The rating assigned to any particular security is not necessarily a reflection of the issuer's current financial condition and does not necessarily reflect its assessment of the volatility of a security's market value or of the liquidity of an investment in the security. Holdings designated as "Not Rated" are not rated by the national ratings agencies stated above.

Currency Exposure (%)4 as of Dec 31, 2014

US Dollar 79.29
Canadian Dollar 6.51
Indian Rupee 3.97
New Zealand Dollar 3.00
Mexican Peso 2.84
Brazilian Real 2.51
Indonesian Rupiah 1.86
Euro 0.02
Total 100.00


Maturity Distribution (%)4,8 as of Dec 31, 2014

Less Than 1 Year 11.92
1 To 3 Years 10.91
3 To 5 Years 2.60
5 To 10 Years 15.16
10 To 20 Years 5.82
20 To 30 Years 13.95
More Than 30 Years 4.16
Equity/Other 35.48
Total 100.00


Fund Holdings4,9 as of Jan 31, 2015

Holding Coupon Rate Maturity Date % of Net Assets
EV Cash Reserves Fund 0.12% 02/02/2015 5.51%
Mexican Bonos 7.75% 05/29/2031 2.56%
Ryland Group Inc 0.25% 06/01/2019 2.36%
KB Home 1.38% 02/01/2019 2.34%
SLM Corp 1.96% 1.96%
Inter-American Development Bank 7.20% 11/14/2017 1.94%
Western Union Co 6.20% 11/17/2036 1.92%
Canada Housing Trust No 1 2.95% 03/15/2015 1.89%
Brazil Notas do Tesouro Nacional Serie F 10.00% 01/01/2021 1.87%
JC Penney Corp Inc 6.38% 10/15/2036 1.83%
View All

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding. Fund primarily invests in one or more affiliated investment companies (Portfolios) and may also invest directly. Unless otherwise noted, references to investments are to the aggregate holdings of the Fund, including its pro rata share of each Portfolio or Fund in which it invests.

About Risk 

An imbalance in supply and demand in the income market may result in valuation uncertainties and greater volatility, less liquidity, widening credit spreads and a lack of price transparency in the market. Investments rated below investment grade (typically referred to as "junk") are generally subject to greater price volatility and illiquidity than higher-rated investments. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical or other conditions. In emerging countries, these risks may be more significant. As interest rates rise, the value of certain income investments is likely to decline. Bank loans are subject to prepayment risk. 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. Convertible securities may react to changes in the value of the common stock into which they convert, and are thus subject to the risks of investing in equities. When interest rates rise, the value of preferred stocks will generally decline. Fund share values are sensitive to stock market volatility. A nondiversified fund may be subject to greater risk by investing in a smaller number of investments than a diversified fund. 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.


Insights & Analysis

Quarterly Commentary

A Word On The Markets  as of Dec 31, 2014

The divergence in growth rates between the U.S. and most other large economies continued during the fourth quarter of 2014. Driven by solid gains in non-farm employment, auto sales and manufacturing activity, the U.S. economy continued to expand at an above-trend growth rate, further narrowing a still meaningful domestic output gap. By contrast, Japan has fallen back into recession, Europe muddles-along at virtually no growth, and business conditions in China have notably slowed.

The Federal Reserve (Fed) officially concluded its quantitative easing (QE) program in October. The Fed has further signaled to markets that it will be ‘patient’ before raising short-term interest rates, likely beginning around mid-year 2015. On the other hand, the bank of Japan has accelerated its QE program by unexpectedly announcing a major expansion of its balance sheet while the European Central Bank (ECB) has also begun preparing markets that a likely QE program of its own is in the making. And the Peoples Bank of China (PBoC) cut its benchmark interest rate while also relaxing a major restraint on banks’ ability to use deposits to make loans in an attempt to revitalize growth in the world’s second largest economy.

Perhaps the most important development was the second consecutive double-digit quarterly ratcheting down in commodities prices, as measured by the Bloomberg Commodity Index. Led by an oil price collapse, WTI crude prices fell over 40%; this came amidst the highest U.S. output in more than three decades against a backdrop of slowing worldwide energy demand. While the drop in oil prices is a clear blow to energy company securities, consumers around the world may reap an increase in real purchasing power.

The U.S. Treasury yield curve continued to flatten, as 10-year yields dropped by 32 basis points while those of 2-year securities rose by 10 basis points. Credit spreads widened during the quarter across debt sectors including high-yield bonds, floating-rate loans and investment-grade securities. Emerging-market debt priced in local currency also came under pressure, as spreads widened while the U.S. dollar generally appreciated. The S&P 500 made a series of record highs and closed out the year on a strong note, up 4.93% over the quarter.

Performance Summary 

Eaton Vance Bond Fund (the Fund) underperformed its benchmark, the Barclays U. S. Government/Credit Bond Index (the Index)2, at net asset value (NAV) for the quarter.

  • Sector allocation and foreign exchange detracted from the Fund’s relative performance to the Index. On the other hand, security selection, particularly within high yield, was a contributor.
  • In order, Fund performance relative to the Index was negatively impacted by sector allocations to high-yield credit, convertible securities, non-U.S. dollar bonds in developed countries, investment grade credit and non-U.S. dollar bonds in emerging markets.
  • Credit spreads relative to comparable maturity U.S. Treasuries generally widened on corporate debt, resulting in lagging performance in investment grade and high yield issuers. The Fund held an overweight in corporate credit relative to the Index and did not hold any US Treasuries, which are included in the Index.
  • A continued strengthening in the relative value of the US dollar against most other currencies was also a drag on the Fund’s performance relative to the Index, as the Fund held securities denominated in local currencies.
  • The Fund’s performance relative to the Index benefitted from investments in common stocks.

Average Annual Returns (%) as of Dec 31, 2014

1 Month 3 Months YTD 1 Year 3 Years 5 Years Life of Fund
Fund at NAV -1.94 -1.29 4.69 4.69 7.22
Fund w/Max Sales Charge -6.62 -6.01 -0.32 -0.32 4.52
Barclays U.S. Government/Credit Bond Index2 0.08 1.82 6.01 6.01 2.75 4.69 2.25
Past performance is no guarantee of future results. Investment return and principal value will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Performance is for the stated time period only; due to market volatility, the Fund's current performance may be lower or higher than quoted. Returns are historical and are calculated by determining the percentage change in net asset value (NAV) with all distributions reinvested. Returns for other classes of shares offered by the Fund are different. Performance less than one year is cumulative. Max Sales Charge: 4.75%.

Fund Facts as of Dec 31, 2014

Class A Inception 01/31/2013
Expense Ratio (Gross)3 1.27%
Expense Ratio (Net)3,10 0.95%


Contributors 

Factors contributing to the Fund’s relative performance compared to the Index during the quarter:

  • The Fund benefitted from holdings of common stocks. The Fund’s management team believes the economic fundamentals are very favorable for domestic companies, and that the most favorably valued asset class remains equities. As such, as of December 31, 2014, Bond Fund was near its maximum 20% limit in common stocks.
  • Among the best-performing equities were cyclical companies involved in basic industries and consumer goods.
  • Although convertible securities as a whole were a detractor, within the asset class several convertible bonds of domestic homebuilders also contributed to relative performance verses the Index.

Detractors 

Factors detracting from the Fund’s relative performance compared to the Index during the quarter:

  • Holdings of high-yield bonds were the single largest asset class detractor to the Fund’s relative performance. Corporate credit spreads, particularly for below-investment grade credit, widened over comparable maturity Treasurys for the quarter.
  • Energy company holdings were the largest industry detractor to the Fund’s relative performance. At year-end Bond Fund’s energy sector exposure was approximately 10% diversified among various asset types. Importantly, we do not view the repricing of oil as a catalyst for financial market contagion and have used the sell-off to selectively add risk.
  • Holdings in securities denominated in non-US dollars also detracted from the Fund’s relative performance as the dollar strengthened. Emerging-market currencies including the Mexican peso, Brazilian real, Indian rupee and Indonesian rupiah all depreciated versus the U.S. dollar. Additionally, the Fund’s investments in the Canadian dollar fell as commodity-linked currencies in general declined.

Investment Outlook And Fund Positioning 

With the formal end of the Fed’s quantitative easing programs, credit markets are likely to transition to higher volatility, rising interest rates and a flatter yield curve. As such, we will likely continue to avoid U.S. government issues, which we believe to be pure interest rate risk. Similarly, we are growing concerned about the evolution of the credit cycle and anticipate corporate bond spreads will likely continue to widen versus similar maturity Treasurys.

We take a contrarian perspective, recognizing that less clarity in the market means fewer clear signals for investors, and taking advantage of the undervalued opportunities this uncertainty presents. As such, the Fund was positioned to mitigate the traditional systematic fixed income risks of interest rates, credit spreads and prepayment speeds of December 31, 2014, as we view these risks as richly valued. Against a favorable economic backdrop in the U.S., we continue to believe common stocks and equity-like securities represent the most favorable relative value. Additionally, as the U.S. dollar has strengthened and commodity prices have weakened, we see these areas as potential buying opportunities.

After harvesting profits and raising reserves during the first half of 2014, we may seize advantages in market weakness and seek potential buying opportunities. This may include adding new names, as well as supplanting current positions in sectors experiencing pressure. It is our belief that increasing the absolute risk, or potential standard deviation of return, of the Fund while markets exhibit uncertainty is the best approach to creating long-term shareholder value.

Credit Quality (%)4,8 as of Dec 31, 2014

AAA 22.45
AA 0.46
A 5.24
BBB 20.38
BB 11.91
B 8.99
CCC or Lower 8.60
Not Rated 0.62
Equity/Other 21.34
Total 100.00
Ratings are based on Moody's, S&P or Fitch, as applicable. If securities are rated differently by the ratings agencies, the higher rating is applied. Ratings, which are subject to change, apply to the creditworthiness of the issuers of the underlying securities and not to the Fund or its shares. Credit ratings measure the quality of a bond based on the issuer's creditworthiness, with ratings ranging from AAA, being the highest, to D, being the lowest based on S&P's measures. Ratings of BBB or higher by S&P or Fitch (Baa or higher by Moody's) are considered to be investment-grade quality. Credit ratings are based largely on the ratings agency's analysis at the time of rating. The rating assigned to any particular security is not necessarily a reflection of the issuer's current financial condition and does not necessarily reflect its assessment of the volatility of a security's market value or of the liquidity of an investment in the security. Holdings designated as "Not Rated" are not rated by the national ratings agencies stated above.


The views expressed in this report are those of portfolio manager(s) and are current only through the date stated at the top of this page. These views are subject to change at any time based upon market or other conditions, and Eaton Vance disclaims any responsibility to update such views. These views may not be relied upon as investment advice and, because investment decisions are based on many factors, may not be relied upon as an indication of trading intent on behalf of any Eaton Vance fund. This commentary may contain statements that are not historical facts, referred to as "forward looking statements". The Fund's actual future results may differ significantly from those stated in any forward-looking statement, depending on factors such as changes in securities or financial markets or general economic conditions, the volume of sales and purchases of Fund shares, the continuation of investment advisory, administrative and service contracts, and other risks discussed from time to time in the Fund's filings with the Securities and Exchange Commission.

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding. Fund primarily invests in one or more affiliated investment companies (Portfolios) and may also invest directly. Unless otherwise noted, references to investments are to the aggregate holdings of the Fund, including its pro rata share of each Portfolio or Fund in which it invests.

About Risk 

An imbalance in supply and demand in the income market may result in valuation uncertainties and greater volatility, less liquidity, widening credit spreads and a lack of price transparency in the market. Investments rated below investment grade (typically referred to as "junk") are generally subject to greater price volatility and illiquidity than higher-rated investments. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical or other conditions. In emerging countries, these risks may be more significant. As interest rates rise, the value of certain income investments is likely to decline. Bank loans are subject to prepayment risk. 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. Convertible securities may react to changes in the value of the common stock into which they convert, and are thus subject to the risks of investing in equities. When interest rates rise, the value of preferred stocks will generally decline. Fund share values are sensitive to stock market volatility. A nondiversified fund may be subject to greater risk by investing in a smaller number of investments than a diversified fund. 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.


Attribution

Attribution available in Fund Literature tab.

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding. Fund primarily invests in one or more affiliated investment companies (Portfolios) and may also invest directly. Unless otherwise noted, references to investments are to the aggregate holdings of the Fund, including its pro rata share of each Portfolio or Fund in which it invests.

About Risk 

An imbalance in supply and demand in the income market may result in valuation uncertainties and greater volatility, less liquidity, widening credit spreads and a lack of price transparency in the market. Investments rated below investment grade (typically referred to as "junk") are generally subject to greater price volatility and illiquidity than higher-rated investments. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical or other conditions. In emerging countries, these risks may be more significant. As interest rates rise, the value of certain income investments is likely to decline. Bank loans are subject to prepayment risk. 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. Convertible securities may react to changes in the value of the common stock into which they convert, and are thus subject to the risks of investing in equities. When interest rates rise, the value of preferred stocks will generally decline. Fund share values are sensitive to stock market volatility. A nondiversified fund may be subject to greater risk by investing in a smaller number of investments than a diversified fund. 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.


Management

Biography
Kathleen C. Gaffney, CFA

Kathleen C. Gaffney, CFA

Vice President, Eaton Vance Management
Joined Eaton Vance 2012

Kathleen Gaffney is a vice president of Eaton Vance Management, co-director of investment-grade fixed income and lead portfolio manager for Eaton Vance’s multisector bond strategies. She is responsible for buy and sell decisions and portfolio construction. She joined Eaton Vance in 2012.

Kathleen began her career in the investment management industry in 1984. Before joining Eaton Vance, Kathleen was a vice president of Loomis, Sayles & Company and portfolio manager for its fixed-income group, managing a variety of mutual funds and institutional strategies.

Kathleen earned a B.A. from the University of Massachusetts, Amherst. She is a CFA charterholder. Her commentary has appeared in The Wall Street Journal, the Financial Times, Institutional Investor, Bloomberg and The New York Times, among other outlets. She has made appearances on Bloomberg TV, Bloomberg Radio and CNBC.

Education
  • B.A. University of Massachusetts, Amherst
Experience
  • Managed Fund since inception
Other funds managed
 
Biography

Stephen C. Concannon, CFA

Vice President, Eaton Vance Management
Joined Eaton Vance 2000

Stephen Concannon is a vice president and portfolio manager on Eaton Vance’s high-yield team, also contributing to the firm’s multisector bond strategy. He is responsible for buy and sell decisions, portfolio construction and risk management for the firm’s high-yield strategies. He joined Eaton Vance in 2000.

Steve began his career in the investment management industry in 1993. Before joining Eaton Vance, he was a research analyst for Wellington Management.

Steve earned a B.A. from Bates College. He is a member of the Boston Security Analysts Society and is a CFA charterholder.

Education
  • B.A. Bates College
Experience
  • Managed Fund since inception
Biography

Henry Peabody, CFA

Vice President, Eaton Vance Management
Joined Eaton Vance 2013

Henry Peabody is a vice president of Eaton Vance Management and portfolio manager for Eaton Vance’s multisector bond strategies. He is also a credit analyst with Eaton Vance’s investment-grade fixed-income team, supporting core investment-grade, cash management and multisector products. He joined Eaton Vance in 2013.

Henry began his career in the investment management industry in 2001. Before joining Eaton Vance, he was a credit analyst with Merganser Capital Management. He was previously affiliated with Emerson Investment Management.

Henry earned a B.A. from Trinity College and an MBA from the Carroll School of Management at Boston College. He is a member of the Boston Security Analysts Society and is a CFA charterholder.

Education
  • B.A. Trinity College
  • M.B.A. Boston College
Experience
  • Managed Fund since 2014
Other funds managed
 
Biography

Michael J. Turgel, CFA

Vice President, Eaton Vance Management
Joined Eaton Vance 2006

Michael Turgel is a vice president of Eaton Vance Management and portfolio manager on Eaton Vance’s floating-rate loan team, contributing to the firm’s multisector bond strategy. He is responsible for buy and sell decisions, portfolio construction and risk management for the firm’s floating-rate loan strategies. He joined Eaton Vance in 2006.

Michael began his career in the investment management industry in 2005. Before joining Eaton Vance, he worked as an SEC reporting analyst at Boston Communications Group, Inc. and as an assurance advisory professional for Deloitte & Touche.

He earned a bachelor’s degree from the University of Massachusetts, Amherst and an MBA from the Leonard N. Stern School of Business at New York University. He is a member of the Boston Security Analysts Society and is a CFA charterholder.

Education
  • B.A. University of Massachusetts, Amherst
  • M.B.A. Stern School of Business, New York University
Experience
  • Managed Fund since inception
Other funds managed
 

Fund Literature

Fund Literature

Annual Report

Attribution

Income, Volatility and Taxes Guide

Commentary

Fact Sheet

Income: Breaking from tradition in today’s bond market

Full Prospectus

Holdings-1st or 3rd fiscal quarters-www.sec.gov

Unloved emerging markets may hold value for opportunistic bond investors

Eaton Vance Launches New Eaton Vance Bond Fund with Lead Manager Kathleen Gaffney, CFA

SAI

EXCLUSIVE CONTENT

Follow the opportunities, not the crowd

EXCLUSIVE CONTENT

Bond Fund Thoughts and Strategies: A risk-based analysis

EXCLUSIVE CONTENT

A top-performing multisector fund EVBIX

Looking for income? Think Eaton Vance

Semi-Annual Report

Summary Prospectus


 

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