Eaton Vance Closed-End Funds Announce Board Approval of New Investment Advisory and Sub-Advisory Agreements

BOSTON, Nov. 10, 2020 /PRNewswire/ -- As previously announced on October 8, 2020, Morgan Stanley (NYSE: MS) and Eaton Vance Corp. ("Eaton Vance") (NYSE: EV) entered into a definitive agreement under which Morgan Stanley will acquire Eaton Vance (the "Transaction").  The acquisition is subject to the completion or waiver of customary closing conditions, and is expected to close in the second quarter of 2021.  Eaton Vance Management is a wholly-owned subsidiary of Eaton Vance and investment adviser to each of the following closed-end funds:

Eaton Vance California Municipal Bond Fund (NYSE American: EVM)

Eaton Vance California Municipal Income Trust (NYSE American: CEV )

Eaton Vance Enhanced Equity Income Fund (NYSE: EOI)

Eaton Vance Enhanced Equity Income Fund II (NYSE: EOS)

Eaton Vance Floating-Rate Income Trust (NYSE: EFT)

Eaton Vance Floating-Rate 2022 Target Term Trust (NYSE: EFL)

Eaton Vance High Income 2021 Target Term Trust  (NYSE: EHT)

Eaton Vance Limited Duration Income Fund (NYSE American: EVV)

Eaton Vance Municipal Bond Fund (NYSE American: EIM)

Eaton Vance Municipal Income 2028 Term Trust (NYSE: ETX)

Eaton Vance Municipal Income Trust (NYSE: EVN)

Eaton Vance National Municipal Opportunities Trust (NYSE: EOT)

Eaton Vance New York Municipal Bond Fund (NYSE American: ENX)

Eaton Vance New York Municipal Income Trust (NYSE American: EVY)

Eaton Vance Risk-Managed Diversified Equity Income Fund (NYSE: ETJ)

Eaton Vance Senior Floating-Rate Trust (NYSE: EFR)

Eaton Vance Senior Income Trust (NYSE: EVF)

Eaton Vance Short Duration Diversified Income Fund (NYSE: EVG)

Eaton Vance Tax-Advantaged Dividend Income Fund (NYSE: EVT)

Eaton Vance Tax-Advantaged Global Dividend Income Fund (NYSE: ETG)1

Eaton Vance Tax-Advantaged Global Dividend Opportunities Fund (NYSE: ETO)1

Eaton Vance Tax-Managed Buy-Write Income Fund (NYSE: ETB)1

Eaton Vance Tax-Managed Buy-Write Opportunities Fund (NYSE: ETV)1

Eaton Vance Tax-Managed Diversified Equity Income Fund (NYSE: ETY)

Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund (NYSE: ETW)1

Eaton Vance Tax-Managed Global Diversified Equity Income Fund (NYSE: EXG)1

Eaton Vance Tax-Managed Buy-Write Strategy Fund (NYSE: EXD)1

(each, a "Fund" and collectively, the "Funds")

Pursuant to the Investment Company Act of 1940, as amended, the consummation of the acquisition of Eaton Vance may be deemed to result in the automatic termination of each Fund's investment advisory agreement with Eaton Vance Management and, where applicable, any related sub-advisory agreement. Therefore, each Fund's Board of Trustees has approved a new investment advisory agreement and, where applicable, a new sub-advisory agreement to be effective upon consummation of the Transaction.  Each Fund's new investment advisory agreement and, where applicable, new sub-advisory agreement will be presented to Fund shareholders for approval at a joint special meeting of shareholders to be held on January 7, 2021.  Shareholders of record of each Fund at the close of business on October 29, 2020 who have voting power with respect to such shares are entitled to be present and to vote at the meeting.

In connection with the proposal to approve a new investment advisory agreement for each Fund and, where applicable, a new sub-advisory agreement, each Fund intends to file a definitive proxy statement with the U.S. Securities and Exchange Commission (the "SEC"). Shareholders are advised to read their Fund's proxy statement when available, as it will contain important information. When filed with the SEC, the proxy statement and other documents filed by the Funds will be available free of charge on the SEC website, Copies of the proxy statement also will be mailed to each shareholder of record as of the record date for the joint special shareholder meeting.

Eaton Vance provides advanced investment strategies and wealth management solutions to forward-thinking investors around the world. Through principal investment affiliates Eaton Vance Management, Parametric, Atlanta Capital, Hexavest, and Calvert, the Company offers a diversity of investment approaches, encompassing bottom-up and top-down fundamental active management, responsible investing, systematic investing, and customized implementation of client-specified portfolio exposures. As of September 30, 2020, Eaton Vance had consolidated assets under management of $517.0 billion. For more information, visit

Fund shares are subject to investment risk, including possible loss of principal invested. No Fund is a complete investment program, and you may lose money investing therein. An investment in a Fund may not be appropriate for all investors. Before investing, prospective investors should consider carefully a Fund's investment objective, risks, charges, and expenses.

This press release is for informational purposes only and is not intended to, and does not, constitute an offer to purchase or sell shares of a Fund. Additional information about the Funds, including performance and portfolio characteristic information, is available at

Statements in this press release that are not historical facts are forward-looking statements as defined by the U.S. securities laws. You should exercise caution in interpreting and relying on forward-looking statements because they are subject to uncertainties and other factors that are, in some cases, beyond a Fund's control and could cause actual results to differ materially from those set forth in the forward-looking statements.

1 ETG, ETO, and EXG are sub-advised by Eaton Vance Advisers International Ltd. ("EVAIL"). ETB, ETV, ETW, and EXD are sub-advised by Parametric Portfolio Associates LLC ("Parametric").  EVAIL and Parametric are each indirect, wholly-owned subsidiaries of Eaton Vance.


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SOURCE Eaton Vance Management

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