Overview

Protection from inflation; limited duration.2

Eaton Vance has one of the shortest durations in its Morningstar category.

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

1 Month 3 Months YTD 1 Year 3 Years 5 Years Life of Fund
Fund at NAV -0.99 -1.46 0.29 0.67 1.73 2.64
Fund w/Max Sales Charge -3.18 -3.72 -1.93 -1.55 0.94 2.12
BofA Merrill Lynch 1-5 Year U.S. Inflation-Linked Treasury Index3 -1.05 -1.55 0.49 0.22 0.66 2.39 1.96
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: 2.25%.

Fund Facts as of Sep 30, 2014

Class A Inception 04/01/2010
Investment Objective Real return
Total Net Assets $57.9M
Minimum Investment $1000
Expense Ratio (Gross)4 1.22%
Expense Ratio (Net)4,5 0.90%
CUSIP 277905378


Portfolio Management

Thomas H. Luster, CFA Managed Fund since inception
Stewart D. Taylor 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. Interest payments on inflation-linked securities may vary widely and will fluctuate as principal and interest are adjusted for inflation. Investments in inflation-linked securities may lose value in the event that the actual rate of inflation is different than the rate of the inflation index. There can be no assurance that the liquidation of collateral securing an investment will satisfy the issuer's obligation in the event of nonpayment or that collateral can be readily liquidated. The ability to realize the benefits of any collateral may be delayed or limited. As interest rates rise, the value of certain income investments is likely to decline. Commercial mortgage-backed securities ("CMBS") are subject to credit, interest rate, prepayment and extension risks. 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. Investments rated below investment grade (typically referred to as "junk") are generally subject to greater price volatility and illiquidity than higher-rated investments. Derivative 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. 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 Sep 30, 2014

1 Month 3 Months YTD 1 Year 3 Years 5 Years Life of Fund
Fund at NAV -0.99 -1.46 0.29 0.67 1.73 2.64
Fund w/Max Sales Charge -3.18 -3.72 -1.93 -1.55 0.94 2.12
BofA Merrill Lynch 1-5 Year U.S. Inflation-Linked Treasury Index3 -1.05 -1.55 0.49 0.22 0.66 2.39 1.96
Morningstar™ Inflation-Protected Bond Category6 -2.36 -2.16 2.65 0.88 0.89 3.70
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: 2.25%.

Calendar Year Returns (%)

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
Fund at NAV 4.19 3.92 -0.17
BofA Merrill Lynch 1-5 Year U.S. Inflation-Linked Treasury Index3 4.90 1.66 2.51 10.27 -1.77 10.59 3.76 5.00 2.67 -2.02

Fund Facts

Expense Ratio (Gross)4 1.22%
Expense Ratio (Net)4,5 0.90%
Class A Inception 04/01/2010
Distribution Frequency Monthly

Yield Information7 as of Sep 30, 2014

Distribution Rate at NAV 1.21%
Subsidized SEC 30-day Yield 1.03%
Unsubsidized SEC 30-day Yield 0.80%


Morningstar™ Ratings as of Sep 30, 2014

Time Period Rating Rating (Load Waived) Funds in
Inflation-Protected Bond
Category
Overall **** ***** 192
3 Years **** ***** 192
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
Oct 29, 2014 $9.99 $-0.01
Oct 28, 2014 $10.00 $0.01
Oct 27, 2014 $9.99 $-0.01
Oct 24, 2014 $10.00 $0.00
Oct 23, 2014 $10.00 $-0.01
Oct 22, 2014 $10.01 $0.00
Oct 21, 2014 $10.01 $0.00
Oct 20, 2014 $10.01 $0.01
Oct 17, 2014 $10.00 $0.01
Oct 16, 2014 $9.99 $-0.01

Distribution History8

Ex-Date Distribution Reinvest NAV
Sep 30, 2014 $0.01000 $10.03
Aug 29, 2014 $0.01400 $10.14
Jul 31, 2014 $0.01750 $10.16
Jun 30, 2014 $0.01750 $10.22
May 30, 2014 $0.03874 $10.19
Apr 30, 2014 $0.02635 $10.15
Mar 31, 2014 $0.02667 $10.14
Feb 28, 2014 $0.00862 $10.21
Jan 31, 2014 $0.00001 $10.19
Dec 31, 2013 $0.00168 $10.16
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 History8

Ex-Date Short-Term Long-Term Reinvest NAV
Dec 13, 2012 $0.10030 $0.02960 $10.33
Dec 21, 2011 $0.10440 $10.20
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. 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. Interest payments on inflation-linked securities may vary widely and will fluctuate as principal and interest are adjusted for inflation. Investments in inflation-linked securities may lose value in the event that the actual rate of inflation is different than the rate of the inflation index. There can be no assurance that the liquidation of collateral securing an investment will satisfy the issuer's obligation in the event of nonpayment or that collateral can be readily liquidated. The ability to realize the benefits of any collateral may be delayed or limited. As interest rates rise, the value of certain income investments is likely to decline. Commercial mortgage-backed securities ("CMBS") are subject to credit, interest rate, prepayment and extension risks. 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. Investments rated below investment grade (typically referred to as "junk") are generally subject to greater price volatility and illiquidity than higher-rated investments. Derivative 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. 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 (%)9 as of Sep 30, 2014

U.S. Treasuries 48.49
Floating-Rate Loans 28.02
U.S. Commercial Mortgage Backed Securities 20.03
Cash & Equivalents 1.76
Other 1.70
Total 100.00

Portfolio Statistics as of Sep 30, 2014

Number of Issuers 475
Average Coupon 2.02%
Average Nominal Duration10 1.54 yrs.
Average Real Duration11 2.20 yrs.


Credit Quality (%)12 as of Sep 30, 2014

AAA 65.52
AA 0.96
A 0.89
BBB 2.90
BB 12.95
B 15.03
CCC or Lower 0.59
Not Rated 1.17
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.


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. Interest payments on inflation-linked securities may vary widely and will fluctuate as principal and interest are adjusted for inflation. Investments in inflation-linked securities may lose value in the event that the actual rate of inflation is different than the rate of the inflation index. There can be no assurance that the liquidation of collateral securing an investment will satisfy the issuer's obligation in the event of nonpayment or that collateral can be readily liquidated. The ability to realize the benefits of any collateral may be delayed or limited. As interest rates rise, the value of certain income investments is likely to decline. Commercial mortgage-backed securities ("CMBS") are subject to credit, interest rate, prepayment and extension risks. 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. Investments rated below investment grade (typically referred to as "junk") are generally subject to greater price volatility and illiquidity than higher-rated investments. Derivative 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. 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 Sep 30, 2014

The third quarter was characterized by a slowing in consumer price index (CPI) inflation. Economic data suggested that the U.S. economy grew at a healthy pace, and the Federal Reserve (Fed) announced that it would end its bond purchases in October, leaving investors focused on when the central bank would begin to raise short-term interest rates. The combination of upbeat economic news and the prospects of Fed rate action pushed short- and intermediate-term real rates sharply higher and prices of short and intermediate Treasury Inflation-Protected Securities (TIPS) lower.

The CPI rose 1.7% in August from a year earlier, down from 2.0% in July and 2.1% in June. Core inflation, which excludes food and energy prices, also climbed 1.7%. A change in how the Bureau of Labor Statistics measures airline ticket prices significantly depressed the transportation portion of the CPI in July and August – a dynamic that is unlikely to be repeated. For the quarter, energy and apparel prices declined, while shelter components and medical care were higher.

Against this backdrop, five-year real rates increased 53 basis points (bps) during the quarter, and five-year TIPS breakevens narrowed 43bps. The BofA Merrill Lynch 1-5 Year U.S. Inflation-Linked Treasury Index (the Index)3 returned -1.55%.

Performance Summary 

Eaton Vance Short Duration Real Return Fund (the Fund) outperformed its benchmark, the BofA Merrill Lynch 1-5 Year U.S. Inflation-Linked Treasury Index (the Index),3 at net asset value during the quarter. Factors impacting returns:

  • TIPS accrued a 0.50% CPI inflation return, which increased the principal value of the TIPS in the Fund.
  • The increase in real rates more than offset the inflation return, causing the Fund’s TIPS to produce a negative total return.
  • The yield difference between both floating-rate loans and commercial mortgage-backed securities (CMBS) relative to Treasurys with similar maturities widened, which hurt the performance of the floating-rate loans and CMBS held in the Fund.

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

1 Month 3 Months YTD 1 Year 3 Years 5 Years Life of Fund
Fund at NAV -0.99 -1.46 0.29 0.67 1.73 2.64
Fund w/Max Sales Charge -3.18 -3.72 -1.93 -1.55 0.94 2.12
BofA Merrill Lynch 1-5 Year U.S. Inflation-Linked Treasury Index3 -1.05 -1.55 0.49 0.22 0.66 2.39 1.96
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: 2.25%.

Fund Facts as of Sep 30, 2014

Class A Inception 04/01/2010
Expense Ratio (Gross)4 1.22%
Expense Ratio (Net)4,5 0.90%


Contributors 

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

  • The Fund's TIPS delivered a slightly higher net return than the TIPS in the Index. The Fund’s TIPS yielded more than their counterparts in the Index, and security selection was a positive factor.
  • The Fund's allocation to floating-rate loans and CMBS, neither of which are held by the Index, benefited the Fund’s relative performance, since both the floating-rate loan and CMBS markets generated better returns than the Index.

Detractors 

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

  • The Fund’s inflation derivatives and interest-rate derivatives – i.e., the Fund’s strategy of swapping Libor and fixed-rate interest payments for payments based on changes in U.S. CPI – negatively impacted relative results.

Investment Outlook And Fund Positioning 

Seasonal demand for energy will likely push inflation higher over the new few months. Beyond normal seasonality, any one of three dynamics could produce an increase in the underlying rate of inflation. First, rising tension in the Middle East could cause an energy-led surge in the CPI. Second, if the economy strengthens materially, banks may start lending the nearly $2 trillion they hold in excess reserves at the Fed, resulting in a difficult-to-contain increase in monetary velocity (the rate of turnover of money in the economy). Lastly, greater demand for labor could create an inflationary rise in real wages. With TIPS looking inexpensive versus nominal assets, now may be the time to add or increase exposure.

On September 30, the Fund remained positioned to protect against rising inflation and interest rates. The Fund had a 49.78% allocation to TIPS, a 30.09% allocation to floating rate loans and a 21.79% allocation to CMBS, and its average duration was lower than that of the Index. Interest rate payments on both the floating rate loans and CMBS were fully swapped for payments based on changes in the CPI. The Fund’s total exposure to CPI was 112.60%.

Credit Quality (%)12 as of Sep 30, 2014

AAA 65.52
AA 0.96
A 0.89
BBB 2.90
BB 12.95
B 15.03
CCC or Lower 0.59
Not Rated 1.17
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. Interest payments on inflation-linked securities may vary widely and will fluctuate as principal and interest are adjusted for inflation. Investments in inflation-linked securities may lose value in the event that the actual rate of inflation is different than the rate of the inflation index. There can be no assurance that the liquidation of collateral securing an investment will satisfy the issuer's obligation in the event of nonpayment or that collateral can be readily liquidated. The ability to realize the benefits of any collateral may be delayed or limited. As interest rates rise, the value of certain income investments is likely to decline. Commercial mortgage-backed securities ("CMBS") are subject to credit, interest rate, prepayment and extension risks. 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. Investments rated below investment grade (typically referred to as "junk") are generally subject to greater price volatility and illiquidity than higher-rated investments. Derivative 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. 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

No attribution information is available.

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. Interest payments on inflation-linked securities may vary widely and will fluctuate as principal and interest are adjusted for inflation. Investments in inflation-linked securities may lose value in the event that the actual rate of inflation is different than the rate of the inflation index. There can be no assurance that the liquidation of collateral securing an investment will satisfy the issuer's obligation in the event of nonpayment or that collateral can be readily liquidated. The ability to realize the benefits of any collateral may be delayed or limited. As interest rates rise, the value of certain income investments is likely to decline. Commercial mortgage-backed securities ("CMBS") are subject to credit, interest rate, prepayment and extension risks. 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. Investments rated below investment grade (typically referred to as "junk") are generally subject to greater price volatility and illiquidity than higher-rated investments. Derivative 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. 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
Thomas H. Luster, CFA

Thomas H. Luster, CFA

Vice President, Eaton Vance Management
Joined Eaton Vance 1995

Tom Luster is a vice president of Eaton Vance Management, director of Investment-Grade Fixed Income and portfolio manager on Eaton Vance's investment-grade fixed-income team.

Tom joined Eaton Vance in 1995. Prior to joining Eaton Vance, Tom was associated with Deloitte & Touche Consulting and the Naval Center for Space Technology.

Tom earned a B.S. in mechanical engineering from George Washington University and an M.B.A. in finance from the University of Chicago. He is a CFA charterholder. Tom is also a member of the Fixed Income Management Society of Boston and the Boston Security Analysts Society, and was formerly chairman and a Governor's appointee to the Board of Trustees of Health Care Security, which oversees the investment of Tobacco Litigation Settlement funds for the Commonwealth of Massachusetts.

Tom's commentary has appeared in The Wall Street Journal, Reuters, Investor's Business Daily and American Banker, and he has been featured on New England Cable News and Bloomberg Radio.

Education
  • B.S. George Washington University
  • M.B.A. Booth School of Business, University of Chicago
Experience
  • Managed Fund since inception
Biography
Stewart D. Taylor

Stewart D. Taylor

Vice President, Eaton Vance Management
Joined Eaton Vance 2005

Stewart Taylor is a vice president of Eaton Vance Management and a portfolio manager on Eaton Vance’s investment-grade fixed-income team. He is responsible for buy and sell decisions, portfolio construction and risk management for the firm’s investment-grade fixed-income strategies. He is also responsible for overseeing residential mortgage trading and inflation-linked trading. He joined Eaton Vance in 2005.

Stewart began his career in the investment management industry in 1981. Before joining Eaton Vance, he was a senior vice president with Government Perspectives, LLC. He was also previously affiliated with Shearson Lehman, Prudential and Refco.

Stewart has made presentations and taught trading and analysis seminars for the Mortgage Bankers Association of America, Bloomberg and the annual Dow Jones Technical Analysis Group Conference. His commentaries have appeared in The New York Times, The Wall Street Journal and Barron’s, and he is a frequent guest on Bloomberg Radio. He is a CMT charterholder.

Education
Experience
  • Managed Fund since inception
 

Fund Literature

Fund Literature

Annual Report

Income, Volatility and Taxes Guide

Commentary

Income Markets Review

Income Markets Snapshot

Discover Opportunities in the Income Markets with Eaton Vance

Fact Sheet

Income: Looking beyond traditional sources of yield

Full Prospectus

Short Duration Real Return Holdings

CMBS Portfolio Holdings

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

Is your inflation protection really protecting you.pdf

SAI

Think Performance Think Eaton Vance

Semi-Annual Report

Summary Prospectus

XBRL


 

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