Morgan Stanley Acquisition: We need your response
On October 8, 2020, Eaton Vance Corp. (Eaton Vance) and Morgan Stanley announced that they had entered into a definitive agreement under which Morgan Stanley will acquire Eaton Vance and its affiliates. Eaton Vance’s Board of Directors and Voting Trustees believe this acquisition is in the best interests of our clients, business partners and employees.
While our parent company will change, the investment process and the professionals who have acted as stewards of your assets will not change as a result of the transaction. Further, the brand associated with the investment strategy will not change as a result of the transaction. At the same time, we believe that providing access to the additional resources of a world-class organization like Morgan Stanley will be additive to our investment teams and clients.
Morgan Stanley and Eaton Vance expect the transaction to be completed no later than early in the second quarter. Subject to the satisfaction of customary closing conditions, including receipt of necessary regulatory approvals and client consents, the transaction could take place as soon as March 1, 2021.
To access information specific to your account choose one of the following options:
You are being asked to consent to the deemed assignment of your investment advisory agreement(s) resulting from the change of control as required under applicable law and your investment advisory agreement.
We are requesting that investors in the fund approve the fund’s provision of consent to the change of control as required under applicable law and the fund’s investment advisory arrangement. The respective fund’s consent in this regard will be considered to have been approved if investors representing at least fifty percent of the fund’s assets under management provide their approval (or are deemed to provide their approval).
If you have an Institutional separate account portfolio and/or are an investor in certain private funds managed by Eaton Vance Management, Parametric, Calvert and Atlanta Capital, you will be sent a consent letter requesting your consent to our continued management of your investment strategies following the close of the transaction. Depending on the terms of your investment management agreement or investment in a private fund, your consent may be required to be in writing.
If you have any questions, please contact your institutional relationship manager for assistance.
If you own shares of Eaton Vance open-end funds or Eaton Vance closed-end funds, you are being asked to approve new investment advisory agreements and, where applicable, new investment sub-advisory agreements to help ensure that the funds continue to operate without interruption.
More information on voting options can be found below.
Eaton Vance Open-End Fund Information
Eaton Vance Open-End Fund Online Voting Options
Eaton Vance Closed-End Fund Information1
Eaton Vance Closed-End Fund Online Voting Options
1 Relates to each of the closed-end funds sponsored by Eaton Vance except Eaton Vance Floating-Rate Income Plus Fund (EFF).
PLEASE READ YOUR OPEN-END FUND’S DEFINITIVE PROXY STATEMENT. IT CONTAINS IMPORTANT INFORMATION. EACH FUND MAILED ITS DEFINITIVE PROXY STATEMENT TO SHAREHOLDERS AS OF THE RELEVANT RECORD DATE. EACH FUND’S DEFINITIVE PROXY STATEMENT AND OTHER RELATED MATERIALS ARE ALSO AVAILABLE, WITHOUT CHARGE, ON THE SECURITIES AND EXCHANGE COMMISSION'S WEBSITE.