Overview

 

Bernstein Equity Strategy Fund has outperformed its index with less volatility since inception.1

As of 6/30/14.

  • A Shares at NAV
  • Benchmark

Average Annual Returns (%) as of Jun 30, 2014

1 Month 3 Months YTD 1 Year 3 Years 5 Years Life of Fund
08/31/2014
Fund at NAV 2.69 1.43 4.71 18.79 15.15 11.43
Fund w/Max Sales Charge -3.25 -4.43 -1.32 11.95 12.90 9.74
MSCI All Country World Index2 2.21 2.87 7.21 20.99 14.05 11.79 11.06
06/30/2014
Fund at NAV 1.63 2.89 4.92 20.76 11.59 12.04
Fund w/Max Sales Charge -4.23 -3.05 -1.13 13.79 9.41 10.27
MSCI All Country World Index2 1.88 5.04 6.18 22.95 10.24 14.27 11.31
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: 5.75%.

Fund Facts as of Aug 31, 2014

Class A Inception 10/12/2010
Investment Objective Total return
Total Net Assets $1.2B
Minimum Investment $1000
Expense Ratio3 1.33%
CUSIP 277902599

Top 10 Holdings (%)4 as of Jun 30, 2014

MSCI Emerging Markets Mini (US, USD) - MME - Sep 2014
EV Cash Reserves Fund
Apple Inc.
Exxon Mobil Corp.
Microsoft Corp.
Chevron Corp.
General Electric Co.
Pfizer Inc.
Toyota Motor Corp.
HSBC Holdings PLC
Total 18.74


Portfolio Management

Richard Bernstein Managed Fund since inception

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding.

About Risk 

Fund share values are sensitive to stock market volatility. 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. Smaller companies are generally subject to greater price fluctuations, limited liquidity, higher transaction costs and higher investment risk than larger, established companies. Derivatives instruments can be used to take both long and short positions, be highly volatile, result in economic leverage (which can magnify losses), and involve risks in addition to the risks of the underlying instrument on which the derivative is based, such as counterparty, correlation and liquidity risk. If a counterparty is unable to honor its commitments, the value of Fund shares may decline and/or the Fund could experience delays in the return of collateral or other assets held by the counterparty. 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 Jun 30, 2014

1 Month 3 Months YTD 1 Year 3 Years 5 Years Life of Fund
08/31/2014
Fund at NAV 2.69 1.43 4.71 18.79 15.15 11.43
Fund w/Max Sales Charge -3.25 -4.43 -1.32 11.95 12.90 9.74
MSCI All Country World Index2 2.21 2.87 7.21 20.99 14.05 11.79 11.06
Morningstar™ World Stock Category5 2.46 2.00 5.77 19.51 13.95 12.34
06/30/2014
Fund at NAV 1.63 2.89 4.92 20.76 11.59 12.04
Fund w/Max Sales Charge -4.23 -3.05 -1.13 13.79 9.41 10.27
MSCI All Country World Index2 1.88 5.04 6.18 22.95 10.24 14.27 11.31
Morningstar™ World Stock Category5 1.97 4.23 5.75 22.72 10.57 14.83
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: 5.75%.

Calendar Year Returns (%)

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
Fund at NAV -6.40 12.69 29.48
MSCI All Country World Index2 15.23 10.84 20.95 11.66 -42.19 34.63 12.67 -7.35 16.13 22.80

Fund Facts

Expense Ratio3 1.33%
Class A Inception 10/12/2010
Distribution Frequency Annually


Risk Measures (3 Year)6 as of Aug 31, 2014

Alpha (%) 5.32
Beta 0.67
R-Squared (%) 84.22
Standard Deviation (%) 9.81
Sharpe Ratio 1.54


Morningstar™ Ratings as of Aug 31, 2014

Time Period Rating Rating (Load Waived) Funds in
World Stock
Category
Overall *** **** 827
3 Years *** **** 827
Based on Risk-Adjusted Returns.

The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its 3-, 5- and 10-year (if applicable) Morningstar Rating metrics.

© 2014 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers is responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results. For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating™ based on how a fund ranks on a Morningstar Risk-Adjusted Return measure against other funds in the same category. This measure takes into account variations in a fund's monthly performance after adjusting for sales loads (except for load-waived A shares) redemption fees, and the risk-free rate, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. Load-waived A share star ratings do not include any front-end sales load and are intended for those investors who have access to such purchase terms (e.g., plan participants of a defined contribution plan). Not all A share mutual funds for which Morningstar calculates a load-waived A share star rating may actually waive their front-end sales load. Therefore, Morningstar strongly encourages investors to contact their investment professional to determine whether they are eligible to purchase the A share without paying the front load. The Morningstar Rating may differ among share classes of a mutual fund as a result of different sales loads and/or expense structure.

NAV History

Date NAV NAV Change
Sep 26, 2014 $14.59 $0.09
Sep 25, 2014 $14.50 $-0.21
Sep 24, 2014 $14.71 $0.11
Sep 23, 2014 $14.60 $-0.10
Sep 22, 2014 $14.70 $-0.11
Sep 19, 2014 $14.81 $-0.04
Sep 18, 2014 $14.85 $0.08
Sep 17, 2014 $14.77 $-0.05
Sep 16, 2014 $14.82 $0.08
Sep 15, 2014 $14.74 $-0.02

Distribution History7

Ex-Date Distribution Reinvest NAV
Dec 23, 2013 $0.06380 $14.04
Dec 20, 2012 $0.12900 $11.14
Dec 28, 2011 $0.05750 $9.84
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
No records in this table indicates that there has not been a capital gain greater than .0001 within the past 3 years.
Fund prospectus

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 as of month-end for the stated time period only; due to market volatility, the Fund's current performance may be lower or higher than quoted. For the Eaton Vance Fund's performance as of the most recent month end, please refer to eatonvance.com. Returns are historical and are calculated by determining the percentage change in net asset value (NAV) with all distributions reinvested. Returns shown at NAV unless noted otherwise. Returns for other classes of shares offered by the Fund are different. It is not possible to invest in an index.

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding.

About Risk 

Fund share values are sensitive to stock market volatility. 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. Smaller companies are generally subject to greater price fluctuations, limited liquidity, higher transaction costs and higher investment risk than larger, established companies. Derivatives instruments can be used to take both long and short positions, be highly volatile, result in economic leverage (which can magnify losses), and involve risks in addition to the risks of the underlying instrument on which the derivative is based, such as counterparty, correlation and liquidity risk. If a counterparty is unable to honor its commitments, the value of Fund shares may decline and/or the Fund could experience delays in the return of collateral or other assets held by the counterparty. 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 (%)4,8 as of Jun 30, 2014

U.S. Common Stocks 56.88
Foreign Common Stocks 41.44
Cash & Equivalents 1.68
Total 100.00

Portfolio Statistics as of Jun 30, 2014

Median Market Cap $15.1B
Price/Earnings Ratio 15.47
Number of Holdings 384
Price/Book Ratio 2.17


GICS Sector Breakdown (%)4,8 as of Jun 30, 2014

Sector Fund MSCI All Country World Index2
Consumer Discretionary 12.36 11.57
Consumer Staples 9.55 9.56
Energy 7.81 10.17
Financials 16.59 21.32
Health Care 8.65 10.64
Industrials 19.42 10.67
Information Technology 12.87 12.82
Materials 5.56 6.03
Telecom Services 2.79 3.85
Utilities 2.73 3.36
Cash 1.68 0.00

Portfolio Characteristics (%)9 as of Jun 30, 2014

Fund (%) MSCI All Country
World Index (%)
Regions
US. 58 49
Developed 32 40
Emerging 10 11
Style
Growth 49 51
Value 51 49
Size
Large Cap 65 87
Mid Cap 27 13
Small Cap 8 0


Assets by Country (%)4,8 as of Jun 30, 2014

US 58.56
Japan 6.38
UK 5.97
Switzerland 3.46
Germany 3.41
France 2.47
Sweden 2.30
China 1.81
Italy 1.68
Other 8.98
View All

Geographic Mix (%)4,8 as of Jun 30, 2014

United States 58.56
Europe 18.74
Asia/Pacific 6.38
Japan 6.38
United Kingdom 5.97
Latin America 1.88
Eastern Europe 0.90
Africa 0.74
Northern America except US 0.34
Middle East 0.11


Fund Holdings (%)4,10 as of Jul 31, 2014

Holding % of Net Assets
EV Cash Reserves Fund 11.69%
mini MSCI Emg Mkt Sep14 11.06%
Vanguard Energy ETF 1.75%
Apple Inc 1.53%
Exxon Mobil Corp 1.07%
Microsoft Corp 1.04%
Chevron Corp 0.82%
Pfizer Inc 0.72%
General Electric Co 0.70%
HSBC Holdings PLC 0.66%
View All

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding.

About Risk 

Fund share values are sensitive to stock market volatility. 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. Smaller companies are generally subject to greater price fluctuations, limited liquidity, higher transaction costs and higher investment risk than larger, established companies. Derivatives instruments can be used to take both long and short positions, be highly volatile, result in economic leverage (which can magnify losses), and involve risks in addition to the risks of the underlying instrument on which the derivative is based, such as counterparty, correlation and liquidity risk. If a counterparty is unable to honor its commitments, the value of Fund shares may decline and/or the Fund could experience delays in the return of collateral or other assets held by the counterparty. 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 Jun 30, 2014

Major world equity markets moved higher in the second quarter of 2014, supported by continued low interest rates, which has created ample liquidity, and some signs of global economic improvement. In the U.S., a gradually strengthening economy along with the Federal Reserve’s (the Fed) renewed commitment to low interest rates helped drive key equity indexes to multiple record highs during the quarter. For the most part, investors shrugged off the first-quarter economic contraction, which was largely blamed on harsh winter weather, and drew confidence from several economic reports, including further labor and housing market gains, rising industrial production and stronger auto sales.

U.S. stock market volatility during the quarter was quite low by historical standards and downturns short-lived, as many investors perceived buying opportunities. In June, the outbreak of hostilities in Iraq sent stocks lower, but investors returned to equities a few days later after the Fed reiterated its pledge to maintain low interest rates and downplayed inflation fears. The major indexes quickly rebounded, with some reaching new highs, before falling back in the final week of the period.

Globally, Europe’s sluggish economic recovery faced a new challenge from rising oil prices amid the turmoil in the Middle East. In China, a positive manufacturing report offered some encouragement following recent government initiatives to bolster the country’s slowing economic growth.

In this slow but steady environment, most major market indexes delivered respectable returns for the three-month period. The Dow Jones Industrial Average11 returned 2.83%, while the broader S&P 500 Index12 rose 5.23%. In general, large-cap U.S. stocks outperformed their small-cap counterparts for the quarter. Within the large-cap space, growth stocks generally outperformed value stocks, while the opposite was true within the small-cap space. Overseas, the MSCI EAFE Index13 of developed-market equities advanced 4.09%.

Performance Summary 

Eaton Vance Richard Bernstein Equity Strategy Fund (the Fund) underperformed its benchmark, the MSCI All Country World Index (the Index),2 for the quarter ended June 30, 2014, returning 2.89% for Class A shares at net asset value versus the Index’s 5.04% return.

  • Unlike the first quarter of 2014, several themes embedded within the Fund detracted from performance versus the Index, including American Industrial Renaissance14 companies (U.S. small- and mid-cap industrial firms), early-cycle Europe names and Japanese exporters.

Average Annual Returns (%) as of Jun 30, 2014

1 Month 3 Months YTD 1 Year 3 Years 5 Years Life of Fund
Fund at NAV 1.63 2.89 4.92 20.76 11.59 12.04
Fund w/Max Sales Charge -4.23 -3.05 -1.13 13.79 9.41 10.27
MSCI All Country World Index2 1.88 5.04 6.18 22.95 10.24 14.27 11.31
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: 5.75%.

Fund Facts as of Jun 30, 2014

Class A Inception 10/12/2010
Expense Ratio3 1.33%


Contributors 

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

  • The Fund was underweight the Asia ex-Japan region, the lone region in which the Fund realized a small positive contribution.
  • The one economic sector that positively contributed to the Fund’s performance was consumer discretionary.
  • The Fund’s underweight in the financials sector was a positive contributor, although stock selection within the sector detracted from performance.

Detractors 

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

  • The Fund’s largest regional overweight was in the United States due to management’s favorable stance on the American Industrial Renaissance (AIR) theme. Two-thirds of the U.S. detraction from Fund performance came from U.S. companies within the AIR theme.
  • The Fund was positioned to take advantage of management’s belief that Europe is in an early-cycle economic recovery. The Fund was underweight European energy names, which was responsible for almost half of the European exposure’s drag on the Fund’s performance.
  • The Fund was overweight Japan in an effort to take advantage of anticipated reforms and improving conditions with Abenomics. This overweight further detracted from Fund performance.
  • The Fund’s modest cash balance also slightly limited Fund performance.

Investment Outlook And Fund Positioning 

We are now in the sixth year of the equity bull market, and recent data show no investor group taking excessive risk with regard to U.S. equities. Pension funds, endowments, foundations, hedge funds, individuals, Wall Street strategists and even corporations all appear to remain more fearful of downside risk than they are willing to accentuate upside potential. High-beta15 stocks within the S&P 500 Index,12 a group risk-seeking investors may flock to in market bubbles, were near historically low relative valuations as of quarter-end.

Given this, the probability of a bear market still seems low to us. Bear markets are generally characterized by tight liquidity, significantly deteriorating fundamentals and investor euphoria. We believe the Fund is well-positioned to continue benefiting from one of the strongest bull markets of our careers, particularly by focusing on U.S. mid-cycle and cheap high-beta securities.

Top 10 Holdings (%)4 as of Jun 30, 2014

MSCI Emerging Markets Mini (US, USD) - MME - Sep 2014 9.91
EV Cash Reserves Fund 1.68
Apple Inc. 1.47
Exxon Mobil Corp. 1.09
Microsoft Corp. 1.01
Chevron Corp. 0.82
General Electric Co. 0.74
Pfizer Inc. 0.74
Toyota Motor Corp. 0.65
HSBC Holdings PLC 0.63
Total 18.74


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.

About Risk 

Fund share values are sensitive to stock market volatility. 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. Smaller companies are generally subject to greater price fluctuations, limited liquidity, higher transaction costs and higher investment risk than larger, established companies. Derivatives instruments can be used to take both long and short positions, be highly volatile, result in economic leverage (which can magnify losses), and involve risks in addition to the risks of the underlying instrument on which the derivative is based, such as counterparty, correlation and liquidity risk. If a counterparty is unable to honor its commitments, the value of Fund shares may decline and/or the Fund could experience delays in the return of collateral or other assets held by the counterparty. 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

Sector Attribution as of Jun 30, 2014

Fund MSCI All Country World Index2 Attribution
Sectors Average Weight Total Return Contrib. to Return Average Weight Total Return Contrib. to Return Allocation Effect Selection Effect Total Effect
3 Month Attribution
Consumer Discretionary 11.09 4.13 0.41 11.51 3.44 0.39 0.05
Consumer Staples 9.32 4.01 0.40 9.73 5.10 0.51 -0.06
Energy 5.60 8.03 0.46 10.01 11.71 1.14 -0.46
Financials 14.49 0.69 -0.02 21.47 3.20 0.69 -0.32
Health Care 9.00 5.26 0.38 10.53 4.81 0.50 -0.01
Industrials 20.33 1.81 0.22 10.78 3.31 0.36 -0.55
Information Technology 11.32 3.78 0.38 12.65 6.21 0.78 -0.31
Materials 4.51 4.08 0.21 6.11 4.46 0.27 0.01
Telecom Services 2.30 0.91 0.02 3.90 3.97 0.16 -0.05
Utilities 2.44 5.59 0.13 3.31 7.40 0.24 -0.07
Futures 3.57 2.38 0.21 0.00 0.00 0.00 -0.06
Cash 6.04 0.01 0.00 0.00 0.00 0.00 -0.41
Total 100.00 2.80 2.80 100.00 5.04 5.04 -2.24
1 Year Attribution
Consumer Discretionary 10.97 23.40 2.68 11.73 20.73 2.48 0.23
Consumer Staples 9.29 15.97 1.54 9.89 14.50 1.47 0.20
Energy 3.83 24.87 0.83 9.83 28.47 2.74 -0.38
Financials 17.30 20.01 3.78 21.60 19.04 4.24 0.41
Health Care 8.46 31.91 2.42 10.38 28.43 2.84 0.08
Industrials 17.18 30.28 4.17 10.76 24.43 2.62 0.64
Information Technology 9.89 26.30 2.29 12.39 31.03 3.68 -0.53
Materials 3.27 25.93 0.76 6.15 22.64 1.41 0.09
Telecom Services 2.38 15.64 0.36 4.02 18.24 0.75 -0.02
Utilities 2.49 20.02 0.50 3.24 22.44 0.72 -0.07
Futures 6.03 13.03 1.23 0.00 0.00 0.00 -0.24
Cash 8.89 0.04 0.00 0.00 0.00 0.00 -2.76
Total 100.00 20.56 20.56 100.00 22.95 22.95 -2.39


Additional Notes 

Source: Factset.

Attribution analysis shows the contribution of indicated factor exposures to a portfolio's relative total return versus a designated benchmark. Results are based on each day's ending holdings, and linked to generate attribution over longer periods. Portfolio returns do not reflect applicable expenses and trading costs, or variations in transaction prices from end of day values.

Allocation Effect 

Measures portfolio's excess return due to over or under-weighting a sector.

Selection Effect 

Measures portfolio's excess return from selecting individual stocks within each sector.

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding.

About Risk 

Fund share values are sensitive to stock market volatility. 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. Smaller companies are generally subject to greater price fluctuations, limited liquidity, higher transaction costs and higher investment risk than larger, established companies. Derivatives instruments can be used to take both long and short positions, be highly volatile, result in economic leverage (which can magnify losses), and involve risks in addition to the risks of the underlying instrument on which the derivative is based, such as counterparty, correlation and liquidity risk. If a counterparty is unable to honor its commitments, the value of Fund shares may decline and/or the Fund could experience delays in the return of collateral or other assets held by the counterparty. 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
Richard Bernstein

Richard Bernstein

Founder, CEO and Chief Investment Officer, Richard Bernstein Advisors LLC

Richard Bernstein is the chief executive officer/chief investment officer of Richard Bernstein Advisors LLC.

Mr. Bernstein founded Richard Bernstein Advisors LLC (RBA) in 2009. The firm utilizes a unique top-down approach to investing, focusing on macro trends rather than individual stock selection. RBA manages several accounts in partnership with several leading financial institutions. Mr. Bernstein has over 30 years’ experience on Wall Street, most recently as the chief investment strategist at Merrill Lynch & Co. Prior to joining Merrill Lynch in 1988, he held positions at E.F. Hutton and Chase Econometrics/IDC.

A much-noted expert on equity, style and asset allocation, Mr. Bernstein was voted to Institutional Investor magazine’s annual “All-America Research Team” 18 times, and is one of only 49 analysts inducted into the Institutional Investor “Hall of Fame.” He was also twice named to both Fortune magazine’s “All-Star Analysts” and to Smart Money magazine’s “Power 30”, and was a member of Registered Rep’s “Ten to watch” for 2012. His book “Style Investing: Unique Insight into Equity Management” is widely viewed as the seminal book on style-oriented investment strategies. He donates the profits from that and his other book, “Navigate the Noise: Investing in the New Age of Media and Hype,” to charity.

Mr. Bernstein is co-chair of the Alfred P. Sloan Foundation endowment’s Investment Committee (~$1.8 billion) and sits on the Hamilton College endowment’s Investment Committee (~$700 million); he is a trustee of both institutions. He is also an Adjunct Professor of Finance at the NYU/Stern Graduate School of business, and is a member of the Journal of Portfolio Management’s Advisory Committee. Rich holds an MBA in finance, with Beta Gamma Sigma distinction, from New York University, and a BA in economics from Hamilton College. He has lectured on finance and economics at numerous colleges, universities and professional forums.

Education
  • B.A. Hamilton College
  • M.B.A. Stern School of Business, New York University
Experience
  • Managed Fund since inception

Fund Literature

Fund Literature

Annual Report

Attribution

Income, Volatility and Taxes Guide

Commentary

Fact Sheet

Volatility: Managing risk with a range of strategies

Full Prospectus

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

Are you managing volatility or is it managing you?

Key Investment Themes for 2014- Bernstein Insight

A classic barometer- Bernstein Insight

Bernstein 13 for '13 Scorecard

SAI

EXCLUSIVE CONTENT

Follow the opportunities, not the crowd

EXCLUSIVE CONTENT

Flexible Approach to Navigate Uncertain Markets

Think Performance Think Eaton Vance

Semi-Annual Report

Summary Prospectus

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