Eaton Vance Closed-End Funds Announce Record and Meeting Dates For Joint Special Meeting of Shareholders

BOSTON, Oct. 29, 2020 /PRNewswire/ -- Each Fund listed below has announced that its Board of Trustees has set a record date of October 29, 2020 for determining those shareholders entitled to notice of, and the right to vote at, a joint special meeting of shareholders to be held on January 7, 2021 or such later date as to which the meeting may be adjourned:

As previously announced, Morgan Stanley (NYSE: MS) and Eaton Vance Corp. ("Eaton Vance") (NYSE: EV) have entered into a definitive agreement under which Morgan Stanley will acquire Eaton Vance.  The acquisition is subject to 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 Funds.

Pursuant to the Investment Company Act of 1940, as amended, the consummation of the acquisition of Eaton Vance may result in the automatic termination of each Fund's investment advisory agreement with Eaton Vance Management and, where applicable, any related sub-advisory agreement.  At the joint special meeting, shareholders of each Fund will be asked to consider a new investment advisory agreement for the Fund and, where applicable, a new sub-advisory agreement.

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, www.sec.gov.  Copies of the proxy statement will also be mailed to each shareholder of record as of the record date listed above for the joint special shareholder meeting.

Eaton Vance Corp. 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 eatonvance.com.

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 www.eatonvance.com.

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 which 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.

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SOURCE Eaton Vance Management