Products March 12, 2010
Eaton Vance Plans Actively-Managed ETFs
Eaton Vance Management has filed an application with the Securities and Exchange Commission (SEC) to create and operate five actively-managed exchange-traded funds (ETFs).
Reported by Rebecca Moore
According to the application, the Eaton Vance Enhanced Short Maturity ETF and the Eaton Vance Prime Limited Maturity ETF will invest at least 65% of its total assets in a diversified portfolio of fixed income instruments of varying maturities (U.S.-dollar denominated investment grade debt securities), which may be represented by forwards.
The Eaton Vance Government Limited Maturity ETF will invest at least 80% of its assets in a diversified portfolio of fixed income securities that are issued or guaranteed by the U.S. Government, its agencies, or government sponsored enterprises.
The application said the Eaton Vance Intermediate Municipal Bond ETF and the Eaton Vance Short Term Municipal Bond ETF seek tax-exempt income by investing at least 80% of assets in a diversified portfolio of debt securities whose interest is, in the opinion of bond counsel for the issuer at the time of issuance, exempt from federal income tax. The funds may only invest in U.S. dollar-denominated investment grade debt securities.
The Eaton Vance Government Limited Maturity ETF will invest at least 80% of its assets in a diversified portfolio of fixed income securities that are issued or guaranteed by the U.S. Government, its agencies, or government sponsored enterprises.
The application said the Eaton Vance Intermediate Municipal Bond ETF and the Eaton Vance Short Term Municipal Bond ETF seek tax-exempt income by investing at least 80% of assets in a diversified portfolio of debt securities whose interest is, in the opinion of bond counsel for the issuer at the time of issuance, exempt from federal income tax. The funds may only invest in U.S. dollar-denominated investment grade debt securities.