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Eaton Vance Expands Tax-Managed Fund Lineup


Eaton Vance Corp. has expanded its tax-managed fund family with three new products: Eaton Vance Tax-Managed Equity Asset Allocation Fund, Eaton Vance Tax-Managed Mid-Cap Core Fund, and Eaton Vance Tax-Managed Small-Cap Value Fund.

The firm predicts significant growth in the tax-managed fund area, given the limits on contributions to 401(k) plans and IRA accounts. "According to industry statistics, approximately half of all $89 million U.S. investors hold assets outside qualified plans, representing potentially billions of dollars in funds that are subject to taxes," said Thomas Faust Jr., an executive VP and CIO at the Boston firm.

Eaton Vance has approximately $60 billion in assets under management, with just less than $24 billion in its tax-managed portfolios. The firm does not currently provide sub-advisory services for tax-managed portfolios at other complexes.

The new equity asset allocation fund, is a fund of tax-managed funds, managed by equity CIO Duncan Richardson. The fund invests in the seven other funds within Eaton Vance's family to generate a balanced asset investment strategy with tax consciousness.

The mid-cap core fund is a feeder fund of the Tax-Managed Mid-Cap Stock Portfolio, advised by Eaton Vance subsidiary Boston Management and Research and sub-advised by subsidiary Atlanta Capital Management Company, LLC. The fund invests in companies included in the Standard & Poor's Mid-Cap 400 Index and is team managed.

The small-cap value fund is a feeder fund of the Tax-Managed Small-Cap Value Portfolio, advised by Boston Management and Research and sub-advised by subsidiary Fox Asset Management LLC. The fund invests in companies included in the Standard & Poor's Small-Cap 600 Index. George Pierides manages the fund.