Eaton Vance Risk-Managed Diversified Equity Income Fund Report of Earnings
BOSTON, Dec. 22, 2011 /PRNewswire/ -- Eaton Vance Risk-Managed Diversified Equity Income Fund (NYSE: ETJ), a diversified closed-end investment company, today announced the earnings of the Fund for the three and nine-month periods ended September 30, 2011. The Fund's fiscal year ends on December 31, 2011.
For the three months ended September 30, 2011, the Fund had net investment income of $1,342,319 ($0.019 per common share). For the nine months ended September 30, 2011, the Fund had net investment income of $3,699,400 ($0.051 per common share). In comparison, for the three months ended September 30, 2010, the Fund had net investment income of $1,949,872 ($0.027 per common share). For the nine months ended September 30, 2010, the Fund had net investment income of $6,215,100 ($0.086 per common share).
Net realized and unrealized losses for the three months ended September 30, 2011 were $63,607,397 ($0.874 per common share) and net realized and unrealized losses for the nine months ended September 30, 2011 were $62,532,045 ($0.857 per common share). In comparison, net realized and unrealized gains for the three months ended September 30, 2010 were $17,181,713 ($0.229 per common share) and net realized and unrealized losses for the nine months ended September 30, 2010 were $49,347,013 ($0.680 per common share).
On September 30, 2011, net assets of the Fund were $927,218,532. The net asset value per common share on September 30, 2011 was $12.71 based on 72,958,783 common shares outstanding. In comparison, on September 30, 2010, net assets of the Fund were $1,055,810,564. The net asset value per common share on September 30, 2010 was $14.47 based on 72,958,783 shares outstanding.
The Fund periodically makes certain performance data and information about portfolio characteristics available on www.eatonvance.com (on the fund information page under "Individual Investors - Closed-End Funds"). Fund portfolio holdings for the most recent calendar quarter-end are also posted to the website approximately 30 days following quarter-end.
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 $188.2 billion in assets as of October 31, 2011, offering individuals and institutions a broad array of investment strategies and wealth management solutions. The Company's long record of providing exemplary service and attractive returns through a variety of market conditions has made Eaton Vance the investment manager of choice for many of today's most discerning investors. For more information about Eaton Vance, visit www.eatonvance.com.
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EATON VANCE RISK-MANAGED DIVERSIFIED EQUITY INCOME FUND |
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SUMMARY OF RESULTS OF OPERATIONS |
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(in thousands, except per share amounts) |
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Three Months Ended |
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Nine Months Ended |
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September 30, |
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September 30, |
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2011 |
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2010 |
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2011 |
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2010 |
| Gross investment income |
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$ 4,009 |
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$ 4,801 |
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$ 11,937 |
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$ 15,077 |
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| Operating expenses |
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(2,667) |
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(2,851) |
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(8,238) |
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(8,862) |
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| Net investment income |
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$ 1,342 |
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$ 1,950 |
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$ 3,699 |
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$ 6,215 |
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| Net realized and unrealized gains (losses) on investments |
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$(63,607) |
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$ 17,181 |
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$ (62,532) |
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$ (49,347) |
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| Net increase (decrease) in net assets from operations |
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$(62,265) |
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$ 19,131 |
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$ (58,833) |
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$ (43,132) |
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| Earnings per Share Outstanding |
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| Gross investment income |
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$ 0.056 |
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$ 0.066 |
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$ 0.164 |
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$ 0.208 |
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| Operating expenses |
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(0.037) |
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(0.039) |
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(0.113) |
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(0.122) |
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| Net investment income |
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$ 0.019 |
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$ 0.027 |
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$ 0.051 |
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$ 0.086 |
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| Net realized and unrealized gains (losses) on investments |
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$ (0.874) |
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$ 0.229 |
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$ (0.857) |
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$ (0.680) |
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| Net increase (decrease) in net assets from operations |
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$ (0.855) |
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$ 0.256 |
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$ (0.806) |
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$ (0.594) |
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| Net Asset Value at September 30 (common shares) |
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| Net assets |
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$ 927,219 |
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$ 1,055,811 |
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| Shares outstanding |
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72,959 |
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72,959 |
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| Net asset value per share outstanding |
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$ 12.71 |
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$ 14.47 |
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| Market Value Summary (common shares) |
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| Market price on NYSE at September 30 |
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$ 10.95 |
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$ 13.92 |
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| High market price (period ended September 30) |
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$ 13.46 |
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$ 17.33 |
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| Low market price (period ended September 30) |
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$ 10.00 |
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$ 13.18 |
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SOURCE Eaton Vance Management
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