Overview

Growth of $10,000

Since Fund inception ended 09/30/2016

  • Class A at NAV

Historical Returns (%)as of Dec 31, 2016

Annualized
1 Mo. 3 Mos. YTD 1 Yr. 3 Yrs. 5 Yrs. Life of Fund
Fund at NAV 0.16 -5.29 7.25 7.25 -6.25 -2.73
MSCI Emerging Markets Index2 0.22 -4.16 11.19 11.19 -2.55 1.27 0.07
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 or equal to one year is cumulative. The share class has no sales charge.

Fund Factsas of Dec 31, 2016

Class I Inception 08/29/2012
Investment Objective Long-term capital appreciation
Total Net Assets $4.8M
Minimum Investment $250000
Expense Ratio (Gross)3 4.13%
Expense Ratio (Net)3,4 1.26%
CUSIP 277902375

Top 10 Holdings (%)5,6as of Sep 30, 2016

Samsung Electronic
Tencent Holdings
China Mobile Ltd.
Alibaba Group
Taiwan Semiconductor Manf.
Infosys Technologies
Tenaga Nasional
Reliance Inds.
Chunghwa Telecom
Korea Electric Power
Total 24.13

Portfolio Management

Vital Proulx, CFA Managed Fund since inception
Jean-René Adam, CFA Managed Fund since inception
Jean-Benoit Leblanc, CFA Managed Fund since inception
Jean-Pierre Couture Managed Fund since inception

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

About Risk 

Fund performance is sensitive to stock market volatility. 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. 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. 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

Historical Returns (%)as of Dec 31, 2016

Annualized
1 Mo. 3 Mos. YTD 1 Yr. 3 Yrs. 5 Yrs. Life of Fund
Fund at NAV 0.16 -5.29 7.25 7.25 -6.25 -2.73
MSCI Emerging Markets Index2 0.22 -4.16 11.19 11.19 -2.55 1.27 0.07
Morningstar™ Diversified Emerging Mkts Category7 0.01 -5.30 8.47 8.47 -3.18 1.61
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 or equal to one year is cumulative. The share class has no sales charge.

Calendar Year Returns (%)

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
Fund at NAV -0.82 -8.58 -15.98 7.25
MSCI Emerging Markets Index2 39.39 -53.33 78.51 18.88 -18.42 18.22 -2.60 -2.19 -14.92 11.19

Fund Facts

Expense Ratio (Gross)3 4.13%
Expense Ratio (Net)3,4 1.26%
Class I Inception 08/29/2012
Distribution Frequency Annually

Risk Measures (3 Year)8as of Dec 31, 2016

Alpha (%) -4.20
Beta 0.87
R-Squared (%) 95.29
Standard Deviation (%) 14.54
Sharpe Ratio -0.44

Morningstar™ Ratingsas of Dec 31, 2016

Time Period Rating Funds in
Diversified Emerging Mkts
Category
Overall ** 606
3 Years ** 606
The Morningstar Rating™ for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product 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.

The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.

©2017 Morningstar. 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 are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

NAV History

Date NAV NAV Change
Jan 13, 2017 $8.39 $0.01
Jan 12, 2017 $8.38 $0.04
Jan 11, 2017 $8.34 $0.05
Jan 10, 2017 $8.29 $0.04
Jan 09, 2017 $8.25 -$0.04
Jan 06, 2017 $8.29 $0.00
Jan 05, 2017 $8.29 $0.07
Jan 04, 2017 $8.22 $0.03
Jan 03, 2017 $8.19 $0.06
Dec 30, 2016 $8.13 $0.00

Distribution History9

Ex-Date Distribution Reinvest NAV
Dec 20, 2016 $0.21340 $8.12
Dec 22, 2014 $0.12520 $9.36
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 History9

Ex-Date Short-Term Long-Term Reinvest NAV
Dec 22, 2014 $0.02760 $0.24500 $9.36
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.

About Risk 

Fund performance is sensitive to stock market volatility. 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. 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. 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 (%)6as of Sep 30, 2016

Foreign Common Stocks 91.05
Cash & Equivalents 8.95
Total 100.00

Portfolio Statisticsas of Sep 30, 2016

Median Market Cap $10.5B
Price/Earnings Ratio 12.65
Price/Book Ratio 1.43
Number of Holdings 137
% of Portfolio in Developed Countries 0.0
% of Portfolio in Emerging Countries 100.0

GICS Sector Breakdown (%)6as of Sep 30, 2016

Sector Fund MSCI Emerging Markets Index2
Consumer Discretionary 9.16 10.61
Consumer Staples 9.47 7.88
Energy 3.08 7.31
Financials 20.24 23.68
Health Care 1.53 2.56
Industrials 3.22 5.92
Information Technology 18.14 23.94
Materials 4.78 6.39
Real Estate 0.69 2.68
Telecom Services 12.38 6.11
Utilities 8.36 2.92
Cash 8.95 0.00

Geographic Mix vs. Benchmark (%)6as of Sep 30, 2016

Fund Benchmark
Mexico 3.89 3.67
Chile 2.52 1.13
Other - Emerging America 2.23 8.20
Total - Emerging America 8.64 13.00
South Korea 21.00 14.84
China 20.72 26.96
India 9.84 8.48
Taiwan 8.25 12.14
Malaysia 4.69 2.66
Other - Emerging Asia 6.23 6.25
Total - Emerging Asia 70.71 71.33
Turkey 5.18 1.17
South Africa 2.63 7.13
Other - Emerging EMEA 3.90 7.36
Total - Emerging EMEA 11.69 15.67
Cash 8.95

Currency Exposure vs. Benchmark (%)6as of Sep 30, 2016

Fund Benchmark
Chinese Yuan 14.89 26.96
US Dollar 14.83
Indian Rupee 13.50 8.48
Taiwanese Dollar 11.31 12.14
Korean Won 7.55 14.84
Brazilian Real 7.21 7.37
Indonesian Rupiah 4.22 2.72
South African Rand 4.14 7.13
Russian Ruble 3.81 3.66
Mexican Peso 3.73 3.67
Total 100.00 100.00
View All

Assets by Country (%)6as of Sep 30, 2016

South Korea 21.00
China 20.72
India 9.84
Taiwan 8.25
Turkey 5.18
Malaysia 4.69
Mexico 3.89
Indonesia 3.84
South Africa 2.63
Cash 8.95
View All

Fund Holdings (%)6,10as of Nov 30, 2016

Holding % of Net Assets
iShares MSCI India ETF 4.79%
NEW TAIWAN DOLLAR 4.54%
EV Cash Reserves Fund LLC 3.96%
Samsung Electronics Co Ltd 3.40%
Tencent Holdings Ltd 3.14%
China Mobile Ltd 3.00%
Alibaba Group Holding Ltd 2.14%
iShares India 50 ETF 2.13%
Taiwan Semiconductor Manufacturing Co Ltd 2.10%
MEXICAN PESO 2.05%
View All

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

About Risk 

Fund performance is sensitive to stock market volatility. 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. 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. 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

Commentary

No commentary information is currently available.

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

About Risk 

Fund performance is sensitive to stock market volatility. 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. 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. 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 currently available.

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

About Risk 

Fund performance is sensitive to stock market volatility. 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. 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. 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
Vital Proulx, CFA

Vital Proulx, CFA

Chairman & Co-Chief Investment Officer
Hexavest
Co-founded Hexavest 2004

Vital Proulx is chairman and co-chief investment officer of Hexavest Inc., an investment adviser and Montreal-based affiliate of Eaton Vance Corp. He cofounded Hexavest in 2004.

Vital began his career in the investment management industry in 1989. Prior to cofounding Hexavest, Vital was senior vice president, international equities, at Natcan Investment Management. He was previously affiliated with Les Conseillers financiers du St-Laurent, where he started the international and U.S. equity strategies that Hexavest still manages to this day.

Vital holds a bachelor’s degree in business administration from the Université Laval. He is a CFA charterholder.

Education
  • B.B.A. Université Laval

Experience
  • Managed Fund since inception

Biography
Jean-René Adam, CFA

Jean-René Adam, CFA

Co-Chief Investment Officer & Portfolio Manager
Hexavest
Joined Hexavest 2006

Jean-René Adam is co-chief investment officer and portfolio manager of Hexavest Inc., an investment adviser and Montreal-based affiliate of Eaton Vance Corp. He works closely with the firm’s president and chief economist in the elaboration of the firm’s macro strategy and is also responsible for managing North American equity portfolios. He joined Hexavest in 2006.

Jean-René began his career in the investment management industry in 2002. Before joining Hexavest, he was an equity research associate, special situations, at National Bank Financial. He was previously affiliated with Desjardins Securities.

Jean-René holds a bachelor’s degree in commerce and a master’s degree in finance from the Université de Sherbrooke. He is a CFA charterholder.

Education
  • B.Comm. Université de Sherbrooke
  • M.Fin. Université de Sherbrooke

Experience
  • Managed Fund since inception

Biography
Jean-Benoit Leblanc, CFA

Jean-Benoit Leblanc, CFA

Portfolio Manager, Hexavest
Joined Hexavest 2009

Jean-Benoit co-manages Emerging Markets equities at Hexavest.

Prior to joining the firm in 2009, he was Portfolio Manager and Sector Analyst at Natcan/Selexia (2001-2008), Research Associate (Communications and Media) at Newcrest Capital (2000), and Financial Analyst, Telecoms and Information Technology at Innovatech du Grand Montréal (1999-2000).

Jean-Benoit holds a bachelor’s degree in Business Administration (Accounting) (1998) and a master’s degree in Finance from Sherbrooke University (1999), in addition to being a CFA charterholder (2002).

Education
  • B.B.A. Sherbrooke University
  • M.Fin. Sherbrooke University

Experience
  • Managed Fund since inception

 
Biography
Jean-Pierre Couture

Jean-Pierre Couture

Chief Economist & Portfolio Manager, Hexavest
Joined Hexavest 2010

Jean-Pierre Couture is chief economist and portfolio manager for Hexavest Inc., an investment adviser and Montreal-based affiliate of Eaton Vance Corp. He works closely with the firm’s president and with co-chief investment officer, Jean-René Adam, in the elaboration of the firm’s macro strategy and is also responsible for managing emerging markets equity portfolios. He joined Hexavest in 2010.

Jean-Pierre began his career in the investment management industry in 1995. Before joining Hexavest, he held roles at at Caisse de dépôt et placement du Québec, including director of macroeconomics research and senior analyst, global macro. He was previously an economist at the National Bank of Canada .

Jean-Pierre holds a bachelor’s degree and a master’s degree in economics from Université du Québec à Montréal.

Education
  • B.Econ. Université du Québec à Montréal
  • M.Econ. Université du Québec à Montréal

Experience
  • Managed Fund since inception


Literature

Literature

Fact Sheet

Download - Last updated: Sep 30, 2016

Annual Report

Download - Last updated: Jul 31, 2016

Full Prospectus

Download - Last updated: Dec 1, 2016

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

Download

Eaton Vance Launches Four Equity Funds Sub-Advised by Hexavest Inc.

Download - Last updated: Sep 4, 2012

SAI

Download - Last updated: Dec 1, 2016

Semi-Annual Report

Download - Last updated: Jan 31, 2016

Summary Prospectus

Download - Last updated: Dec 1, 2016

XBRL

Download - Last updated: Dec 15, 2016