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Mutual funds

Eaton Vance launches Richard Bernstein Market Opportunities Fund


Eaton Vance Management has launched the Eaton Vance Richard Bernstein Market Opportunities Fund, a mutual fund managed for total return.

Richard Bernstein, chief executive officer and chief investment officer of the fund's sub-adviser, Richard Bernstein Advisors (RBA), is a portfolio manager of the fund.
The fund employs RBA's macro-driven, top-down approach and seeks to identify cyclical and secular investment themes around the globe. The fund may hold long and short positions in equity and fixed income securities, currencies, commodities and other investment assets, including positions held through exchange-traded funds and other pooled vehicles.  Market segments chosen for emphasis and/or de-emphasis may vary from general market consensus views, and the Fund may at times seek to identify areas where there is scarcity of capital and/or potentially overlooked investment opportunities. 
The fund's typical investment exposure will range from a maximum long exposure of 150 per cent and a maximum short exposure of 50 per cent of the Fund's net assets.  
In addition to Bernstein, the fund's portfolio managers are Matthew Griswold, director of investments at RBA, and Henry Timmons, senior quantitative analyst at RBA. Bernstein is also portfolio manager of Eaton Vance Richard Bernstein Equity Strategy Fund and Eaton Vance Richard Bernstein All Asset Strategy Fund.
"Investor uncertainty today is high due to the tenuous global economy, political instability and daily market volatility," says Bernstein. "We believe the fund's flexibility to establish investment exposures based on macro-economic themes, allocate across different asset classes, and take both long and short positions may help enhance returns and dampen performance volatility."
"We are pleased to expand our relationship with RBA to offer investors this new, flexible strategy," says Thomas E Faust Jr, chairman and chief executive officer of Eaton Vance. "RBA's top-down investment style nicely complements our extensive line-up of fund strategies based on bottom-up security selection."

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