Eaton Vance Management has launched a new Eaton Vance bond fund II, a non-diversified mutual fund seeking total return, managed by a team led by Kathleen Gaffney, vice president of Eaton Vance.
Eaton Vance Bond Fund II employs a bottom-up, research-driven and value-oriented approach to investing across income markets, including U.S. investment grade and high yield bonds, non-U.S. sovereign and corporate debt, floating-rate bank loans and convertible securities. Under normal market conditions, Bond Fund II invests at least 80% of its net assets in bonds and other fixed and floating-rate income instruments.
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In addition to Ms. Gaffney, the Fund’s portfolio managers are Henry Peabody, CFA, Stephen Concannon, CFA, and Michael Turgel, CFA/CPA, each a Vice President of Eaton Vance. The team is also responsible for managing Eaton Vance Bond Fund (class a:EVBAX)(class c:EVBCX)(class i:EVBIX), which had approximately $1.7 billion in assets under management as of September 30, 2014. Different from the established Bond Fund, Bond Fund II will not have a strategic allocation to common stocks.
"In today’s market environment, investors are looking for flexible solutions to address both their income needs and long-term total return objectives," said Payson Swaffield, CFA, Chief Income Investment Officer for Eaton Vance. "Bond Fund II is our latest offering to employ a multi-sector approach to income investing that is rooted in thorough, fundamental, security-specific research."
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