Eaton Vance Management, a subsidiary of Eaton Vance Corp has launched a new Eaton Vance Richard Bernstein Market Opportunities Fund, a mutual fund managed for total return.
Richard Bernstein, Chief Executive Officer and Chief Investment Officer of the Fund’s sub-adviser, Richard Bernstein Advisors LLC (RBA), is a portfolio manager of the Fund.
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The Fund employs RBA’s macro-driven, top-down approach and seeks to identify cyclical and secular investment themes around the globe.
The Fund may hold long and short positions in equity and fixed income securities, currencies, commodities and other investment assets, including positions held through exchange-traded funds and other pooled vehicles.
Market segments chosen for emphasis and/or de-emphasis may vary from general market consensus views, and the Fund may at times seek to identify areas where there is scarcity of capital and/or potentially overlooked investment opportunities.
The Fund’s typical investment exposure will range from a maximum long exposure of 150% and a maximum short exposure of 50% of the Fund’s net assets.
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By GlobalDataIn addition to Bernstein, the Fund’s portfolio managers are Matthew Griswold, CFA, Director of Investments at RBA, and Henry Timmons, CFA, Senior Quantitative Analyst at RBA. Bernstein is also portfolio manager of Eaton Vance Richard Bernstein Equity Strategy Fund, and Eaton Vance Richard Bernstein All Asset Strategy Fund.
"Investor uncertainty today is high due to the tenuous global economy, political instability and daily market volatility," Mr. Bernstein said. "We believe the Fund’s flexibility to establish investment exposures based on macro-economic themes, allocate across different asset classes, and take both long and short positions may help enhance returns and dampen performance volatility."
Bernstein has over 30 years’ of investment industry experience. Prior to founding RBA, Bernstein spent more than 20 years at Merrill Lynch & Co., where he was one of the most respected market strategists on Wall Street.
"We are pleased to expand our relationship with RBA to offer investors this new, flexible strategy," said Thomas E. Faust Jr., Chairman and Chief Executive Officer of Eaton Vance. "RBA’s top-down investment style nicely complements our extensive lineup of fund strategies based on bottom-up security selection."
