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Calvert launches Equity Income Fund


Calvert Investment Management has launched the Calvert Equity Income Fund (CEIAX). The fund. which will be co-managed by portfolio managers James McGlynn and Yvonne M Bishop, will aim to capitalise on opportunities primarily in income-producing large-cap equity stocks.

The Calvert Equity Income Fund will seek to achieve a competitive dividend yield by primarily investing in strong dividend-paying, large-cap common stocks but may also invest in preferred stock, trust preferred securities and convertible securities. The fund will normally invest at least 80% of its assets in equity securities. In addition, the fund may also invest up to 20% of its net assets in debt securities, including below-investment grade, high-yield debt securities (commonly known as "junk bonds"). The Fund will look to leverage the expertise of CIM’s fixed-income team to invest in below investment-grade, high-yield debt securities.

"The fund should be of particular interest to those clients in retirement, or approaching retirement, who are seeking alternatives to the low yields currently available in traditional fixed-income products," says Bishop, Co- Portfolio Manager. "The fund also offers the potential for long-term capital appreciation and can be an excellent way for conservative investors to participate in the stock market."

"The fund is designed to meet growing demand among our clients and prospects for investments primarily in income-producing, large-cap company equity securities," says McGlynn. "In particular, the fund aims to target companies that we believe are undervalued, offering the opportunity for both long-term growth of capital and current income."

The Fund will employ the Calvert SAGE strategy, which first evaluates the Fund for a threshold responsibility standard with respect to tobacco, weapons and human rights. In addition, SAGE emphasises enhanced engagement to advance environmental, social and governance performance in companies that demonstrate varying degrees of commitment and progress toward corporate responsibility and sustainability challenges.

"We are pleased to offer a large cap equity income fund option to our shareholders," says Natalie Trunow (pictured), Senior Vice President and Head of Equities at Calvert. "Using our SAGE investment approach, we will be able to give investors who are interested in sustainable investing the opportunity to have exposure to income-generating large-cap equities."


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