Eaton Vance Announces Floating-Rate Loan Fund Portfolio Management Appointments

BOSTON, June 29, 2021 /PRNewswire/ -- Eaton Vance Management ("Eaton Vance") announced today the appointment of Ralph H. Hinckley, Jr., CFA, and Jake T. Lemle, CFA, to the portfolio management teams of the Eaton Vance floating-rate loan mutual funds, effective June 30, 2021, and the retirement of Craig P. Russ, Co-Director of Floating-Rate Loan Investments, in June 2022.

Mr. Hinckley and Mr. Lemle will join the team of Mr. Russ and Andrew N. Sveen, CFA, as portfolio managers of Eaton Vance Floating-Rate Fund (Class I: EIBLX) and Eaton Vance Floating-Rate Advantage Fund (Class I: EIFAX) and the team of Mr. Russ, Mr. Sveen, Kelley Baccei Gerrity and Stephen C. Concannon, CFA, as portfolio managers of Eaton Vance Floating-Rate & High Income Fund (Class I: EIFHX).  In addition to their new mutual fund management duties, Mr. Hinckley and Mr. Lemle will continue their current responsibilities in the Eaton Vance floating-rate loan group, Mr. Hinckley as a credit analyst and portfolio manager, and Mr. Lemle as Director of Loan Trading and Capital Markets.

Mr. Russ will maintain his responsibilities as Co-Director of Floating-Rate Loan Investments until the end of 2021 and his portfolio management responsibilities, of both US and non-US based products, until his retirement. He will spend the next 12 months focused on ensuring continued investment and service excellence and a seamless transition.  Mr. Russ has served as Co-Director of Floating-Rate Loan Investments since 2014 and has co-led the Eaton Vance floating-rate loan group team with Mr. Sveen since March 2019.  Mr. Russ has been a leading contributor to the Eaton Vance floating-rate loan group since joining in 1997, serving initially as a credit research analyst, then as a portfolio manager and ultimately as co-director. Mr. Russ began his career in the investment management industry in 1985. Before joining Eaton Vance, he worked in commercial lending at State Street Bank.

"The promotion of Ralph and Jake to join the portfolio management teams of our industry-leading floating-rate income funds speaks to the depth of talent in our floating-rate loan group and our confidence in Ralph and Jake," said Eric Stein, CFA, Chief Investment Officer, Fixed Income, of Eaton Vance.  "Craig's extensive leadership experience and investment insight, along with a deep understanding and connection to our clients, culture and industry, have been invaluable to the strong investment performance and growth of our floating-rate loan franchise."

Mr. Sveen will continue to lead the team as sole Director of Floating-Rate Loan Investments in January 2022. He is a 26-year industry veteran with deep knowledge of the floating-rate loan market and Eaton Vance's investment strategies, having previously held senior positions at Eaton Vance across floating-rate loan credit research, trading and portfolio management functions. Mr. Sveen served as Director of Loan Trading & Capital Markets from 2001-2019 and as a portfolio manager since 2007. He joined Eaton Vance as a Senior Credit Analyst in 1999 and previously worked as a corporate lending officer at State Street Bank alongside Mr. Russ, beginning in 1995. Mr. Sveen is a member of the Board of Directors of the Loan Syndications & Trading Association.

Eaton Vance applies in-depth fundamental analysis to the active management of equity, income, alternative and multi-asset strategies. Eaton Vance's investment teams follow time-tested principles of investing that emphasize ongoing risk management, tax management (where applicable) and the pursuit of consistent long-term returns. The firm's investment capabilities encompass the global capital markets. With a history dating back to 1924, Eaton Vance is headquartered in Boston and also maintains investment offices in New York, London, Tokyo and Singapore. For more information, visit evmanagement.com. Eaton Vance is a part of Morgan Stanley Investment Management, the asset management division of Morgan Stanley.

This press release is for informational purposes only and is not intended to, and does not, constitute an offer to purchase or sell shares of a Fund. Additional information about the Funds, including performance and portfolio characteristic information, is available at eatonvance.com.

Statements in this press release that are not historical facts may be forward-looking statements, as defined by the U.S. securities laws. You should exercise caution in interpreting and relying on forward-looking statements because they are subject to uncertainties and other factors that may be beyond a Fund's control and could cause actual results to differ materially from those set forth in the forward-looking statements.

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SOURCE Eaton Vance Management