Eaton Vance Global Macro Absolute Return Fund to Reopen

BOSTON, Oct. 17, 2011 /PRNewswire/ -- Eaton Vance Management, a subsidiary of Eaton Vance Corp. (NYSE: EV), announced today that Eaton Vance Global Macro Absolute Return Fund (Class A: EAGMX, Class C: ECGMX, Class I: EIGMX, Class R: ERGMX) will reopen on Wednesday, October 19, 2011. The Fund was closed to new investors on October 1, 2010 to address capacity concerns arising from the rapid growth in net assets invested in the Fund's strategy. More stable flows and enhancements to the global income team's operating infrastructure give management confidence that the strategy can accommodate a larger size.    

The Fund invests in securities, derivatives and other instruments to establish long and short investment positions around the world, with significant exposures to frontier and other emerging markets. The Fund's investment adviser seeks to identify investments in countries and currencies it believes have potential to outperform based on consideration of global economies, markets, political conditions and other factors.  Introduced in 2007 utilizing a strategy developed by Eaton Vance in the 1990s, the Fund is one of the largest absolute return funds offered to individual investors.  As of September 30, 2011, the Fund had net assets of approximately $6.6 billion.  

Eaton Vance is one of the oldest investment management firms in the United States, with a history dating to 1924.  Eaton Vance and its affiliates managed $177.8 billion in assets as of September 30, 2011, offering individuals and institutions a broad array of investment strategies and wealth management solutions.  The Company's long record of providing exemplary service and attractive returns through a variety of market conditions has made Eaton Vance the investment manager of choice for many of today's most discerning investors.  For more information about Eaton Vance, visit www.eatonvance.com.

About Risk – The following is a summary of the primary risks of investing in one or more of the Funds. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical, or other conditions. In emerging countries, these risks may be more significant. Derivatives instruments can be used to take both long and short positions, be highly volatile, result in economic leverage (which can magnify losses),  and involve risks in addition to the risks of the underlying instrument on which the derivative is based, such as counterparty and liquidity risk. Investments in income securities may be affected by changes in the real or perceived creditworthiness of their issuer and are subject to the risk of non-payment of principal and interest. An imbalance in supply and demand in the income market may result in valuation uncertainties and greater volatility, less liquidity, widening credit spreads and a lack of price transparency in the market. As interest rates rise, the value of certain income investments is likely to decline. Investments rated below investment grade (typically referred to as "junk bonds") are generally subject to greater price volatility and illiquidity than higher rated investments and typically have greater credit risk. Because investments may be concentrated in a particular geographic region or country, the value of Fund shares may fluctuate more than that of a less concentrated fund. The value of commodities investments will generally be affected by overall market movements and factors specific to a particular industry or commodity including weather, embargoes, tariffs, or health, political, international and regulatory developments. A "non-diversified" fund may be exposed to greater risk by investing its assets in a smaller number of investments than a diversified fund. No Fund is a complete investment program and you may lose money investing in a Fund. A Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.

Before investing, investors should consider carefully the investment objectives, risks, charges and expenses of a mutual fund. This and other important information is contained in the prospectus and summary prospectus which can be obtained from a financial advisor. Prospective investors should read the prospectus carefully before investing.

Not FDIC Insured.  Not Bank Guaranteed.  May Lose Value.

The Funds are distributed by Eaton Vance Distributors, Inc. Two International Place, Boston, MA 02110

SOURCE Eaton Vance Management

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