EATON VANCE CORP. BOSTON, Jan. 14, 2015 /PRNewswire/ -- Eaton Vance Risk-Managed Diversified Equity Income Fund (NYSE: ETJ), a diversified closed-end investment company, today announced the earnings of the Fund for the three months and nine months ended September 30, 2014. The Fund's fiscal year ended on December 31, 2014.
For the three months ended September 30, 2014, the Fund had net investment income of $832,580 ($0.014 per common share). For the nine months ended September 30, 2014, the Fund had net investment income of $3,129,334 ($0.049 per common share). In comparison, for the three months ended September 30, 2013, the Fund had net investment income of $1,259,181 ($0.019 per common share). For the nine months ended September 30, 2013, the Fund had net investment income of $4,650,771 ($0.067 per common share).
Net realized and unrealized losses for the three months ended September 30, 2014 were $4,288,017 ($0.068 per common share) and net realized and unrealized gains for the nine months ended September 30, 2014 were $22,890,488 ($0.359 per common share). In comparison, net realized and unrealized gains for the three months ended September 30, 2013 were $24,502,282 ($0.355 per common share) and net realized and unrealized gains for the nine months ended September 30, 2013 were $66,718,805 ($0.956 per common share).
On September 30, 2014, net assets of the Fund were $787,262,534. The net asset value per common share on September 30, 2014 was $12.35 based on 63,757,079 common shares outstanding. In comparison, on September 30, 2013, net assets of the Fund were $836,034,101. The net asset value per common share on September 30, 2013 was $12.16 based on 68,742,783 common shares outstanding.
The Fund periodically makes certain performance data and information about portfolio characteristics available on www.eatonvance.com (on the fund information page under "Individual Investors - Closed-End Funds"). Fund portfolio holdings for the most recent month-end are also posted to the website approximately 30 days following month-end.
The Fund is managed by Eaton Vance Management, a subsidiary of Eaton Vance Corp. (NYSE: EV), based in Boston, one of the oldest investment management firms in the United States, with a history dating back to 1924. Eaton Vance and its affiliates managed $296.0 billion in assets as of December 31 2014, offering individuals and institutions a broad array of investment strategies and wealth management solutions. The Company's long record of providing exemplary service and attractive returns through a variety of market conditions has made Eaton Vance the investment manager of choice for many of today's most discerning investors. For more information about Eaton Vance, visit www.eatonvance.com.
EATON VANCE RISK-MANAGED DIVERSIFIED EQUITY INCOME FUND
SUMMARY OF RESULTS OF OPERATIONS
(in thousands, except per share amounts)
Three Months Ended Nine Months Ended
September 30, September 30,
------------- -------------
2014 2013 2014 2013
---- ---- ---- ----
Gross investment income $3,058 $3,634 $9,836 $11,769
Operating expenses (2,226) (2,375) (6,707) (7,118)
------ ------ ------ ------
Net investment income $832 $1,259 $3,129 $4,651
Net realized and unrealized gains (losses)
on investments $(4,289) $24,502 $22,890 $66,718
------- ------- ------- -------
Net increase (decrease) in net
assets
from operations $(3,457) $25,761 $26,019 $71,369
Earnings per Common Share Outstanding
-------------------------------------
Gross investment income $0.050 $0.053 $0.154 $0.169
Operating expenses (0.036) (0.034) (0.105) (0.102)
------ ------ ------ ------
Net investment income $0.014 $0.019 $0.049 $0.067
Net realized and unrealized gains (losses)
on investments $(0.068) $0.355 $0.359 $0.956
------- ------ ------ ------
Net increase (decrease) in net
assets
from operations $(0.054) $0.374 $0.408 $1.023
Net Asset Value at September 30 (Common Shares)
----------------------------------------------
Net assets $787,263 $836,034
Shares outstanding 63,757 68,743
Net asset value per share
outstanding $12.35 $12.16
Market Value Summary (Common Shares)
-----------------------------------
Market price on NYSE at September
30 $11.69 $10.81
High market price (period ended September 30) $11.90 $11.48
Low market price (period ended September 30) $11.14 $10.62
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/eaton-vance-risk-managed-diversified-equity-income-fund-report-of-earnings-300020622.html
SOURCE Eaton Vance Management
