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Eaton Vance launches first Unit Investment Trusts

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Eaton Vance Distributors has launched its first unit investment trusts (UITs), a suite of three thematic equity UITs that utilise the research capabilities of its affiliated investment adviser, Eaton Vance Management. 

"Building UIT portfolios provides an opportunity to put the fundamental research of our analysts to work in vehicles designed to help investors gain targeted exposure to themes, trends and specific segments of the market," says Edward J Perkin (pictured), CFA, Chief Equity Investment Officer, Eaton Vance Management. "We believe this presents a compelling way for investors to fine-tune their equity exposure within their overall investment portfolios."
 
According to the Investment Company Institute, UITs reached USD101.0 billion in net assets at the end of 2014 and have continued to attract deposits this year. A UIT is a pooled investment vehicle in which a portfolio, generally of stocks or bonds, is selected by the sponsor (in this case, EVD) and deposited into a trust. Except in limited circumstances, the portfolios of UITs are fixed and unmanaged. UITs offer redeemable units and terminate at a predetermined point in time. UITs can be designed to seek various investment objectives, including capital appreciation, dividend income and total return.
 
"We have been seeing demand from the marketplace for Eaton Vance to offer UITs," says Matt Witkos, President of EVD. "This is an exciting opportunity to broaden and complement the range of innovative investment choices we are offering to financial advisors and the investors they are serving."
deepest gratitude to him for his contributions. While Mark will be missed by all of us, I have great confidence in the breadth and depth of our leadership group and the strength of our professionals. Mark’s ultimate legacy is that he leaves behind tremendous people in our Company, with great core values and a strong culture.”
 
The Board has not yet named a successor to Thompson and is expected to take the remainder of the year to consider candidates.
 
Thompson adds: “While I recognise that there is still a lot more to do here at the Company, I also want to be able to try my hand at some other endeavours. I plan to stay in the area and will continue to be involved in the Bank as a member of the Advisory Board following my retirement at year end, while also focusing more on my charitable and community work.”

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