UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF
REGISTERED
MANAGEMENT INVESTMENT COMPANIES
|
Investment Company Act File Number |
|
811-21142 |
|
Eaton Vance Insured Municipal Bond Fund |
||
|
(Exact Name of Registrant as Specified in Charter) |
||
|
The Eaton Vance Building, |
|
|
|
(Address of Principal Executive Offices) |
|
(Zip code) |
|
Alan R. Dynner, Esq. |
||
|
(Name and Address of Agent for Services) |
||
|
Registrant’s Telephone Number, Including Area Code: |
|
(617) 482-8260 |
|
Date of Fiscal Year End: |
|
September 30 |
|
Date of Reporting Period: |
|
June 30, 2007 |
Item 1. Schedule of Investments
Eaton Vance Insured Municipal Bond Fund as of June 30, 2007
PORTFOLIO OF INVESTMENTS (Unaudited)
Tax-Exempt Investments — 161.4%
|
Principal |
|
Security |
|
Value |
|
||
|
Electric Utilities — 1.0% |
|
|
|
||||
|
$ |
10,300 |
|
Sabine River Authority, TX, (TXU Energy Co. LLC), 5.20%, 5/1/28 |
|
$ |
10,144,676 |
|
|
|
|
|
|
$ |
10,144,676 |
|
|
|
Escrowed / Prerefunded — 1.1% |
|
|
|
||||
|
$ |
5,525 |
|
Highlands County, FL, Health Facilities Authority, (Adventist Health System), Prerefunded to 11/15/13, 5.375%, 11/15/35 |
|
$ |
5,918,159 |
|
|
1,885 |
|
New York City, NY, Prerefunded to 1/15/13, 5.25%, 1/15/33 |
|
2,007,355 |
|
||
|
2,500 |
|
South Miami, FL, Health Facility Authority, (Baptist Health), Prerefunded to 2/1/13, 5.25%, 11/15/33 |
|
2,650,525 |
|
||
|
|
|
|
|
$ |
10,576,039 |
|
|
|
General Obligations — 6.2% |
|
|
|
||||
|
$ |
28,400 |
|
California, 4.75%, 9/1/35 |
|
$ |
28,201,768 |
|
|
13,250 |
|
California, 5.50%, 11/1/33 |
|
14,145,965 |
|
||
|
17,615 |
|
New York City, NY, 5.25%, 1/15/33 |
|
18,331,050 |
|
||
|
|
|
|
|
$ |
60,678,783 |
|
|
|
Hospital — 14.3% |
|
|
|
||||
|
$ |
10,000 |
|
California Statewide Communities Development Authority, (John Muir Health), 5.00%, 8/15/36 |
|
$ |
10,098,000 |
|
|
16,375 |
|
California Statewide Communities Development Authority, (Kaiser Permanente), 5.00%, 3/1/41 |
|
16,465,390 |
|
||
|
27,150 |
|
California Statewide Communities Development Authority, (Kaiser Permanente), 5.25%, 3/1/45 |
|
27,755,173 |
|
||
|
1,225 |
|
Camden County, NJ, Improvement Authority, (Cooper Health System), 5.00%, 2/15/25 |
|
1,232,264 |
|
||
|
2,610 |
|
Camden County, NJ, Improvement Authority, (Cooper Health System), 5.00%, 2/15/35 |
|
2,610,679 |
|
||
|
2,500 |
|
Camden County, NJ, Improvement Authority, (Cooper Health System), 5.25%, 2/15/27 |
|
2,555,775 |
|
||
|
6,200 |
|
Camden County, NJ, Improvement Authority, (Cooper Health System), 5.75%, 2/15/34 |
|
6,565,056 |
|
||
|
2,600 |
|
Cuyahoga County, OH, (Cleveland Clinic Health System), 5.50%, 1/1/29 |
|
2,736,188 |
|
||
|
1,995 |
|
Erie County, OH, Hospital Facilities, (Firelands Regional Medical Center), 5.00%, 8/15/36 |
|
2,003,598 |
|
||
|
6,080 |
|
Erie County, OH, Hospital Facilities, (Firelands Regional Medical Center), 5.25%, 8/15/46 |
|
6,206,464 |
|
||
|
3,900 |
|
Hawaii Department of Budget and Finance, (Hawaii Pacific Health), 5.60%, 7/1/33 |
|
4,058,028 |
|
||
|
5,880 |
|
Indiana Health and Educational Facilities Authority, (Clarian Health Partners), 4.75%, 2/15/34 |
|
5,627,101 |
|
||
1
|
$ |
2,625 |
|
Indiana Health and Educational Facilities Authority, (Clarian Health Partners), 5.00%, 2/15/36 |
|
$ |
2,607,045 |
|
|
10,000 |
|
Knox County, TN, Health, Educational & Housing Facilities Board, (Covenant Health), 0.00%, 1/1/38 |
|
1,968,200 |
|
||
|
10,000 |
|
Knox County, TN, Health, Educational and Housing Facilities Board, (Covenant Health), 0.00%, 1/1/41 |
|
1,650,300 |
|
||
|
8,500 |
|
Lehigh County, PA, General Purpose Authority, (Lehigh Valley Health Network), 5.25%, 7/1/32 |
|
8,706,380 |
|
||
|
3,500 |
|
Michigan Hospital Finance Authority, (Henry Ford Health System), 5.25%, 11/15/46 |
|
3,568,075 |
|
||
|
18,755 |
|
Tarrant County, TX, Cultural Education Finance Revenue, 5.00%, 11/15/42 |
|
18,867,155 |
|
||
|
15,000 |
|
Tarrant County, TX, Cultural Education Finance Revenue, 5.00%, 11/15/47 |
|
15,036,450 |
|
||
|
|
|
|
|
$ |
140,317,321 |
|
|
|
Industrial Development Revenue — 1.6% |
|
|
|
||||
|
$ |
15,000 |
|
St. John Baptist Parish, LA, (Marathon Oil Corp.), 5.125%, 6/1/37 |
|
$ |
15,137,700 |
|
|
|
|
|
|
$ |
15,137,700 |
|
|
|
Insured-Education — 2.9% |
|
|
|
||||
|
$ |
14,980 |
|
College Charleston, SC, Academic and Administrative Facilities, (XLCA), 4.50%, 4/1/37 (1) |
|
$ |
14,236,842 |
|
|
8,270 |
|
Pennsylvania Higher Educational Facilities Authority, (Temple University), (MBIA), 4.50%, 4/1/36 |
|
7,928,284 |
|
||
|
5,905 |
|
University of California, (MBIA), 4.75%, 5/15/37 |
|
5,933,934 |
|
||
|
|
|
|
|
$ |
28,099,060 |
|
|
|
Insured-Electric Utilities — 14.5% |
|
|
|
||||
|
$ |
13,000 |
|
Burlington, KS, Pollution Control Revenue, (Kansas Gas & Electric Co.), (MBIA), 5.30%, 6/1/31 |
|
$ |
13,642,980 |
|
|
18,815 |
|
Lincoln, NE, Electric System, (FSA), 4.75%, 9/1/35 |
|
18,883,487 |
|
||
|
2,625 |
|
Municipal Energy Agency, NE, (Power Supply System), (FSA), 5.00%, 4/1/36 |
|
2,686,714 |
|
||
|
18,240 |
|
Nebraska, NE, Public Power District, (FGIC), 4.75%, 1/1/35 |
|
18,284,323 |
|
||
|
21,925 |
|
Omaha, NE, Public Power District, (FGIC), 4.25%, 2/1/35 |
|
20,100,182 |
|
||
|
60,755 |
|
South Carolina Public Service Authority, (FSA), 5.125%, 1/1/37 |
|
62,587,371 |
|
||
|
10,650 |
|
Southern Minnesota Municipal Power Agency, (MBIA), 0.00%, 1/1/22 |
|
5,513,931 |
|
||
|
|
|
|
|
$ |
141,698,988 |
|
|
|
Insured-Escrowed/Prerefunded — 1.2% |
|
|
|
||||
|
$ |
12,010 |
|
Anaheim, CA, Public Financing Authority Lease Revenue, (Public Improvements), (FSA), Prerefunded to 9/1/07, 5.00%, 3/1/37 |
|
$ |
12,155,441 |
|
|
|
|
|
|
$ |
12,155,441 |
|
|
2
|
Insured-General Obligations — 27.5% |
|
|
|
||||
|
$ |
60,000 |
|
California, (XLCA), 5.00%, 10/1/28 |
|
$ |
61,400,400 |
|
|
34,035 |
|
Chabot-Las Positas, CA, College District, (AMBAC), 0.00%, 8/1/45 |
|
4,897,636 |
|
||
|
35,370 |
|
Chabot-Las Positas, CA, College District, (AMBAC), 0.00%, 8/1/46 |
|
4,835,433 |
|
||
|
41,300 |
|
Chicago, IL, Board of Education, (FGIC), 0.00%, 12/1/21 |
|
21,343,014 |
|
||
|
14,330 |
|
Clark County, NV, (AMBAC), 2.50%, 11/1/36 |
|
9,048,965 |
|
||
|
24,000 |
|
Escondido, CA, (Election of 2004), (MBIA), 4.75%, 9/1/36 |
|
24,135,840 |
|
||
|
10,055 |
|
Frisco, TX, Independent School District, (FSA), 2.75%, 8/15/39 |
|
6,506,289 |
|
||
|
16,645 |
|
Frisco, TX, Independent School District, (FSA), 4.00%, 8/15/40 |
|
14,189,862 |
|
||
|
16,125 |
|
Frisco, TX, Independent School District, (MBIA), 4.50%, 8/15/40 |
|
15,150,405 |
|
||
|
20,425 |
|
Kane, Cook and Du Page Counties, IL, School District No. 46, (AMBAC), 0.00%, 1/1/21 |
|
10,992,939 |
|
||
|
50,650 |
|
Kane, Cook and Du Page Counties, IL, School District No. 46, (AMBAC), 0.00%, 1/1/22 |
|
25,927,735 |
|
||
|
8,550 |
|
North Las Vegas, NV, Wastewater Reclamation System, (MBIA), 4.25%, 10/1/33 |
|
7,821,967 |
|
||
|
13,000 |
|
Philadelphia, PA, School District, (FGIC), Prerefunded to 6/1/14, 5.25%, 6/1/34 |
|
13,993,980 |
|
||
|
8,465 |
|
Phoenix, AZ, (AMBAC), 3.00%, 7/1/28 |
|
6,473,863 |
|
||
|
20,750 |
|
Schaumburg, IL, (FGIC), 5.00%, 12/1/38 |
|
21,246,547 |
|
||
|
22,670 |
|
Texas, (Transportation Commission-Mobility Fund), (FGIC), 4.50%, 4/1/35 |
|
21,634,661 |
|
||
|
|
|
|
|
$ |
269,599,536 |
|
|
|
Insured-Hospital — 0.6% |
|
|
|
||||
|
$ |
2,625 |
|
New Jersey Health Care Facilities Financing Authority, (Central State Medical Center), (AGC), 4.50%, 7/1/37 |
|
$ |
2,530,789 |
|
|
3,450 |
|
Washington Health Care Facilities Authority, (Providence Health Care), (FGIC), 4.50%, 10/1/35 |
|
3,262,561 |
|
||
|
|
|
|
|
$ |
5,793,350 |
|
|
|
Insured-Industrial Development Revenue — 2.2% |
|
|
|
||||
|
$ |
21,200 |
|
Monroe County, GA, Development Authority, (Georgia Power Co.), (AMBAC), Variable Rate, 4.90%, 7/1/36 |
|
$ |
21,381,684 |
|
|
|
|
|
|
$ |
21,381,684 |
|
|
|
Insured-Lease Revenue / Certificates of Participation — 5.3% |
|
|
|
||||
|
$ |
8,620 |
|
Jackson County, MO, Leasehold Revenue, (Truman Sports), (AMBAC), 4.50%, 12/1/31 |
|
$ |
8,328,299 |
|
|
42,795 |
|
San Jose, CA, Financing Authority, (Civic Center), (AMBAC), 5.00%, 6/1/37 |
|
43,567,878 |
|
||
|
|
|
|
|
$ |
51,896,177 |
|
|
3
|
Insured-Other Revenue — 6.1% |
|
|
|
||||
|
$ |
28,675 |
|
Golden State Tobacco Securitization Corp., CA, (AGC), 5.00%, 6/1/45 (2) |
|
$ |
29,304,129 |
|
|
30,000 |
|
Golden State Tobacco Securitization Corp., CA, (FGIC), 5.00%, 6/1/38 |
|
30,818,100 |
|
||
|
|
|
|
|
$ |
60,122,229 |
|
|
|
Insured-Private Education — 1.1% |
|
|
|
||||
|
$ |
270 |
|
Massachusetts Development Finance Agency, (Boston University), (XLCA), 6.00%, 5/15/59 |
|
$ |
326,552 |
|
|
10,000 |
|
Massachusetts Development Finance Agency, (Franklin W. Olin College), (XLCA), 5.25%, 7/1/33 |
|
10,404,200 |
|
||
|
|
|
|
|
$ |
10,730,752 |
|
|
|
Insured-Public Education — 0.8% |
|
|
|
||||
|
$ |
8,680 |
|
University of Vermont and State Agricultural College, (MBIA), 4.00%, 10/1/35 |
|
$ |
7,645,691 |
|
|
|
|
|
|
$ |
7,645,691 |
|
|
|
Insured-Sewer Revenue — 3.8% |
|
|
|
||||
|
$ |
13,670 |
|
Chicago, IL, Wastewater Transmission, (MBIA), 0.00%, 1/1/23 |
|
$ |
6,661,801 |
|
|
19,000 |
|
King County, WA, Sewer Revenue, (FGIC), 5.00%, 1/1/31 |
|
19,391,210 |
|
||
|
11,050 |
|
Marysville, OH, Wastewater Treatment System, (XLCA), 4.75%, 12/1/46 |
|
10,770,877 |
|
||
|
|
|
|
|
$ |
36,823,888 |
|
|
|
Insured-Special Tax Revenue — 4.9% |
|
|
|
||||
|
$ |
10,000 |
|
Grand Forks, ND, Sales Tax Revenue, (Alerus Project), (MBIA), 4.50%, 12/15/29 |
|
$ |
9,717,400 |
|
|
18,980 |
|
Houston, TX, Hotel Occupancy Tax, (AMBAC), 0.00%, 9/1/24 |
|
8,518,793 |
|
||
|
2,780 |
|
Massachusetts Bay Transportation Authority, Revenue Assessment, (MBIA), 4.00%, 7/1/33 |
|
2,460,300 |
|
||
|
10,000 |
|
Metropolitan Transportation Authority, NY, Dedicated Tax Fund, (MBIA), 5.00%, 11/15/30 |
|
10,267,200 |
|
||
|
17,200 |
|
New York Convention Center Development Corp., Hotel Occupancy Tax, (AMBAC), 4.75%, 11/15/45 |
|
17,093,876 |
|
||
|
|
|
|
|
$ |
48,057,569 |
|
|
|
Insured-Transportation — 31.6% |
|
|
|
||||
|
$ |
6,000 |
|
Central, TX, Regional Mobility Authority, (FGIC), 5.00%, 1/1/45 |
|
$ |
6,080,520 |
|
|
10,070 |
|
Director of the State of Nevada Department of Business and Industry, (Las Vegas Monorail), (AMBAC), 0.00%, 1/1/23 |
|
4,833,600 |
|
||
|
3,100 |
|
Director of the State of Nevada Department of Business and Industry, (Las Vegas Monorail), (AMBAC), 0.00%, 1/1/28 |
|
1,158,067 |
|
||
|
20,000 |
|
Director of the State of Nevada Department of Business and Industry, (Las Vegas Monorail), (AMBAC), 5.375%, 1/1/40 |
|
20,491,200 |
|
||
|
25,000 |
|
E-470 Public Highway Authority, CO, (MBIA), 0.00%, 9/1/39 |
|
4,999,000 |
|
||
|
10,200 |
|
E-470 Public Highway Authority, CO, (MBIA), 0.00%, 9/1/21 |
|
5,309,712 |
|
||
4
|
$ |
8,850 |
|
Harris County, TX, Toll Road Senior Lien, (MBIA), 4.50%, 8/15/36 |
|
$ |
8,415,377 |
|
|
34,915 |
|
Massachusetts Turnpike Authority, Metropolitan Highway System, (AMBAC), 5.00%, 1/1/39 (2) |
|
35,200,954 |
|
||
|
8,360 |
|
Metropolitan Transportation Authority, NY, (FGIC), 4.75%, 11/15/37 (1) |
|
8,376,553 |
|
||
|
42,045 |
|
Minneapolis and St. Paul, MN, Metropolitan Airports Commission, (FGIC), 4.50%, 1/1/32 (1) |
|
40,227,395 |
|
||
|
4,590 |
|
North Texas Tollway Authority, (FSA), 4.50%, 1/1/38 |
|
4,332,042 |
|
||
|
24,665 |
|
Northwest Parkway Public Highway Authority, CO, (FSA), 5.25%, 6/15/41 |
|
25,714,002 |
|
||
|
9,650 |
|
Regional Transportation Authority, IL, (MBIA), 4.50%, 7/1/35 |
|
9,213,724 |
|
||
|
87,045 |
|
San Joaquin Hills, CA, Transportation Corridor Agency, (Toll Road Bonds), (MBIA), 0.00%, 1/15/25 |
|
38,002,977 |
|
||
|
10,410 |
|
Tampa-Hillsborough County, FL, Expressway Authority, (AMBAC), 4.00%, 7/1/34 |
|
9,151,223 |
|
||
|
40,165 |
|
Texas Turnpike Authority, (AMBAC), 0.00%, 8/15/20 |
|
22,136,940 |
|
||
|
64,900 |
|
Texas Turnpike Authority, (AMBAC), 5.00%, 8/15/42 |
|
65,969,552 |
|
||
|
|
|
|
|
$ |
309,612,838 |
|
|
|
Insured-Utilities — 3.6% |
|
|
|
||||
|
$ |
5,000 |
|
Illinois Development Finance Authority, (Peoples Gas, Light and Coke), (AMBAC), 5.00%, 2/1/33 |
|
$ |
5,091,200 |
|
|
31,500 |
|
Springfield, MO, Public Utility Revenue, (FGIC), 4.50%, 8/1/36 |
|
30,158,730 |
|
||
|
|
|
|
|
$ |
35,249,930 |
|
|
|
Insured-Water and Sewer — 9.6% |
|
|
|
||||
|
$ |
6,100 |
|
Birmingham, AL, Waterworks and Sewer Board, (AMBAC), 4.50%, 1/1/39 |
|
$ |
5,781,519 |
|
|
5,600 |
|
Birmingham, AL, Waterworks and Sewer Board, (AMBAC), 4.50%, 1/1/43 |
|
5,245,296 |
|
||
|
10,870 |
|
East Baton Rouge, LA, Sewer Commission, (FSA), 4.50%, 2/1/31 |
|
10,524,008 |
|
||
|
9,455 |
|
East Baton Rouge, LA, Sewer Commission, (FSA), 4.50%, 2/1/36 |
|
9,051,366 |
|
||
|
3,170 |
|
Fort Lauderdale, FL, Water and Sewer, (MBIA), 4.25%, 9/1/33 |
|
2,891,737 |
|
||
|
16,070 |
|
Knoxville, TN, Wastewater System, (MBIA), 4.00%, 4/1/40 |
|
13,888,337 |
|
||
|
8,500 |
|
New York City, NY, Municipal Water Finance Authority, (Water and Sewer System), (MBIA), 5.125%, 6/15/34 |
|
8,810,165 |
|
||
|
10,835 |
|
New York, NY, City Municipal Water Finance Authority, (FSA), 4.25%, 6/15/39 |
|
9,922,043 |
|
||
|
9,500 |
|
Palm Coast, FL, Utility System, (MBIA), 5.00%, 10/1/33 |
|
9,711,660 |
|
||
|
8,700 |
|
Tampa Bay, FL, Regional Water Supply Authority, (FGIC), 4.50%, 10/1/36 |
|
8,305,890 |
|
||
|
10,000 |
|
West Palm Beach, FL, Utility System, (FGIC), 5.00%, 10/1/34 |
|
10,260,400 |
|
||
|
|
|
|
|
$ |
94,392,421 |
|
|
5
|
Insured-Water Revenue — 16.0% |
|
|
|
||||
|
$ |
8,930 |
|
Albany, OR, Water Revenue, (FGIC), 5.00%, 8/1/33 |
|
$ |
9,155,572 |
|
|
25,885 |
|
Atlanta, GA, Water and Wastewater, (MBIA), 5.00%, 11/1/39 (3) |
|
26,365,167 |
|
||
|
3,250 |
|
Baltimore, MD, (Water Projects), (FGIC), 5.125%, 7/1/42 |
|
3,355,853 |
|
||
|
61,585 |
|
Los Angeles, CA, Department of Water and Power, Water Revenue, (FGIC), 5.00%, 7/1/43 |
|
62,575,903 |
|
||
|
40,120 |
|
Massachusetts Water Resources Authority, (AMBAC), 4.00%, 8/1/40 |
|
34,615,937 |
|
||
|
5,000 |
|
Metropolitan Water District, CA, (FGIC), 5.00%, 10/1/33 |
|
5,129,150 |
|
||
|
6,000 |
|
Metropolitan Water District, CA, (FGIC), 5.00%, 10/1/36 |
|
6,151,740 |
|
||
|
700 |
|
Metropolitan Water District, Southern California, Water Resource, (MBIA), 5.00%, 7/1/37 |
|
708,120 |
|
||
|
10,000 |
|
West Wilson, TN, Utility District Waterworks Revenue, (MBIA), 4.00%, 6/1/32 |
|
8,848,000 |
|
||
|
|
|
|
|
$ |
156,905,442 |
|
|
|
Other Revenue — 4.0% |
|
|
|
||||
|
$ |
38,175 |
|
Golden State Tobacco Securitization Corp., CA, 5.00%, 6/1/45 |
|
$ |
38,609,050 |
|
|
|
|
|
|
$ |
38,609,050 |
|
|
|
Special Tax Revenue — 1.5% |
|
|
|
||||
|
$ |
4,600 |
|
New Jersey Economic Development Authority, (Cigarette Tax), 5.50%, 6/15/24 |
|
$ |
4,778,572 |
|
|
1,750 |
|
New Jersey Economic Development Authority, (Cigarette Tax), 5.50%, 6/15/31 |
|
1,829,940 |
|
||
|
2,405 |
|
New Jersey Economic Development Authority, (Cigarette Tax), 5.75%, 6/15/29 |
|
2,561,926 |
|
||
|
5,110 |
|
New Jersey Economic Development Authority, (Cigarette Tax), 5.75%, 6/15/34 |
|
5,418,440 |
|
||
|
|
|
|
|
$ |
14,588,878 |
|
|
|
Total
Tax-Exempt Investments — 161.4% |
|
$ |
1,580,217,443 |
|
|||
|
Other Assets, Less Liabilities — (0.9)% |
|
$ |
(8,743,902 |
) |
|||
|
Auction Preferred Shares Plus Cumulative Unpaid Dividends — (60.5)% |
|
$ |
(592,668,096 |
) |
|||
|
Net Assets Applicable to Common Shares — 100.0% |
|
$ |
978,805,445 |
|
|||
|
AGC |
— |
Assured Guaranty Corp. |
|
AMBAC |
— |
AMBAC Financial Group, Inc. |
|
FGIC |
— |
Financial Guaranty Insurance Company |
|
FSA |
— |
Financial Security Assurance, Inc. |
|
MBIA |
— |
Municipal Bond Insurance Association |
|
XLCA |
— |
XL Capital Assurance, Inc. |
|
|
|
|
6
The Fund invests primarily in debt securities issued by municipalities. The ability of the issuers of the debt securities to meet their obligations may be affected by economic developments in a specific industry or municipality. In order to reduce the risk associated with such economic developments, at June 30, 2007, 81.6% of total investments are backed by bond insurance of various financial institutions and financial guaranty assurance agencies. The aggregate percentage insured by an individual financial institution ranged from 2.0% to 23.5% of total investments.
|
(1) |
When-issued security. |
|
(2) |
Security (or a portion thereof) has been segregated to cover when-issued securities. |
|
(3) |
Security (or a portion thereof) has been segregated to cover margin requirements on open financial futures contracts. |
A summary of financial instruments at June 30, 2007 is as follows:
Futures Contracts
|
Expiration |
|
Contracts |
|
Position |
|
Aggregate |
|
Value |
|
Net |
|
|||||
|
09/07 |
|
1,151 U.S. Treasury Bond |
|
|
Short |
|
|
$ |
(125,634,815 |
) |
$ |
(124,020,250 |
) |
$ |
1,614,565 |
|
Interest Rate Swaps
At June 30, 2007, the Fund had entered into an interest rate swap agreement with Citibank, N.A. whereby the Fund makes bi-annual payments at a fixed rate equal to 3.925% on the notional amount of $40,750,000. In exchange, the Fund receives bi-annual payments at a rate equal to the USD-BMA Municipal Swap Index on the same notional amount. The effective date of the interest rate swap is August 16, 2007. Effective date represents the date on which the Fund and counterparty to the interest rate swap contract begin interest payment accruals. The value of the contract, which terminates August 16, 2027, is recorded as a receivable for open swap contracts of $1,397,700, on June 30, 2007.
At June 30, 2007, the Fund had entered into an interest rate swap agreement with Merrill Lynch Capital Services, Inc. whereby the Fund makes bi-annual payments at a fixed rate equal to 4.006% on the notional amount of $40,750,000. In exchange, the Fund receives bi-annual payments at a rate equal to the USD-BMA Municipal Swap Index on the same notional amount. The effective date of the interest rate swap is August 7, 2007. Effective date represents the date on which the Fund and counterparty to the interest rate swap contract begin interest payment accruals. The value of the contract, which terminates August 7, 2037, is recorded as a receivable for open swap contracts of $1,662,559, on June 30, 2007.
At June 30, 2007, the Fund had entered into an interest rate swap agreement with Lehman Brothers, Inc. whereby the Fund makes bi-annual payments at a fixed rate equal to 5.956% on the notional amount of $39,050,000. In exchange, the Fund receives bi-annual payments at a rate equal to the USD-LIBOR-BBA on the same notional amount. The effective date of the interest rate swap is March 25, 2008. Effective date represents the date on which the Fund and counterparty to the interest rate swap contract begin interest payment accruals. The value of the contract, which terminates March 25, 2038, is recorded as a payable for open swap contracts of $650,221, on June 30, 2007.
At June 30, 2007, the Fund had sufficient cash and/or securities to cover commitments under these contracts.
7
The cost and unrealized appreciation (depreciation) in value of the investments owned at June 30, 2007, as computed on a federal income tax basis, were as follows:
|
Aggregate cost |
|
$ |
1,548,092,951 |
|
|
Gross unrealized appreciation |
|
$ |
41,882,842 |
|
|
Gross unrealized depreciation |
|
(9,758,350 |
) |
|
|
Net unrealized appreciation |
|
$ |
32,124,492 |
|
8
Item 2. Controls and Procedures
(a) It is the conclusion of the registrant’s principal executive officer and principal financial officer that the effectiveness of the registrant’s current disclosure controls and procedures (such disclosure controls and procedures having been evaluated within 90 days of the date of this filing) provide reasonable assurance that the information required to be disclosed by the registrant on this Form N-Q has been recorded, processed, summarized and reported within the time period specified in the Commission’s rules and forms and that the information required to be disclosed by the registrant on this Form N-Q has been accumulated and communicated to the registrant’s principal executive officer and principal financial officer in order to allow timely decisions regarding required disclosure.
(b) There have been no changes in the registrant’s internal controls over financial reporting during the fiscal quarter for which the report is being filed that have materially affected, or are reasonably likely to materially affect the registrant’s internal control over financial reporting.
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Eaton Vance Insured Municipal Bond Fund
|
By: |
|
/s/ Robert B. MacIntosh |
|
|
|
Robert B. MacIntosh |
|
|
|
President and Principal Executive Officer |
|
Date: |
|
August 21, 2007 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
|
By: |
|
/s/ Robert B. MacIntosh |
|
|
|
Robert B. MacIntosh |
|
|
|
President and Principal Executive Officer |
|
Date: |
|
August 21, 2007 |
|
By: |
|
/s/ Barbara E. Campbell |
|
|
|
Barbara E. Campbell |
|
|
|
Treasurer and Principal Financial Officer |
|
Date: |
|
August 21, 2007 |