Eaton Vance Municipal Bond Fund* Report of Earnings
BOSTON, March 3 /PRNewswire-FirstCall/ -- Eaton Vance Municipal Bond Fund (NYSE Amex: EIM) (the "Fund"), a closed-end management investment company, today announced the earnings of the Fund for the three months ended December 31, 2009. The Fund's fiscal year ends on September 30, 2010.
For the three months ended December 31, 2009, the Fund had net investment income of $14,894,045 ($0.220 per common share). In comparison, for the three months ended December 31, 2008, the Fund had net investment income of $12,086,169 ($0.185 per common share).
Net realized and unrealized losses for the three months ended December 31, 2009 were $69,961,992 ($1.031 per common share). In comparison, net realized and unrealized losses for the three months ended December 31, 2008 were $123,359,771 ($1.860 per common share).
On December 31, 2009, net assets of the Fund were $823,641,006. The net asset value per common share on December 31, 2009 was $12.14 based on 67,870,049 common shares outstanding. In comparison, on December 31, 2008, net assets of the Fund were $623,643,295. The net asset value per common share on December 31, 2008 was $9.21 based on 67,681,768 common shares outstanding.
The Fund is managed by Eaton Vance Management, a subsidiary of Eaton Vance Corp. (NYSE: EV), based in Boston, one of the oldest investment management firms in the United States, with a history dating back to 1924. Eaton Vance and its affiliates managed $161.6 billion in assets as of January 31, 2010, offering individuals and institutions a broad array of investment products 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.
EATON VANCE MUNICIPAL BOND FUND*
SUMMARY OF RESULTS OF OPERATIONS
(in thousands, except per share amounts)
Three Months Ended
December 31,
2009 2008
---- ----
Net investment income $14,894 $12,086
Net realized and unrealized gains
(losses) on investments (69,962) (123,360)
------- --------
Net increase (decrease) in net assets
from operations $(55,068) $(111,274)
======== =========
Earnings per Common Share Outstanding
-------------------------------------
Net investment income $0.220 $0.185
Net realized and unrealized gains
(losses) on investments (1.031) (1.860)
------ ------
Net increase (decrease) in net assets
from operations $(0.811) $(1.675)
======= =======
Net Asset Value at December 31 (Common Shares)
----------------------------------------------
Net assets $823,641 $623,643
Shares outstanding 67,870 67,682
Net asset value per share outstanding $12.14 $9.21
Market Value Summary (Common Shares)
-----------------------------------
Market price on NYSE Amex at December 31 $12.40 $8.86
High market price (period ended
December 31) $13.75 $11.20
Low market price (period ended
December 31) $12.38 $6.95
* Effective February 1, 2010, the name of the Fund was changed from Eaton
Vance Insured Municipal Bond Fund.
SOURCE Eaton Vance Management
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