BOSTON, March 4, 2021 /PRNewswire/ -- As
previously announced, Morgan Stanley (NYSE: MS) completed the
acquisition of Eaton Vance Corp. (the "Transaction") on
March 1, 2021. In connection
with the Transaction, shareholders of the Eaton Vance closed-end
funds were asked to approve new investment advisory agreements with
Eaton Vance Management ("EVM") and, where applicable, new
investment sub-advisory agreements. The results of the
special meetings of shareholders of certain Eaton Vance closed-end
funds (the "Funds") to consider the proposed new agreements are
discussed below.
Eaton Vance Floating-Rate Income Plus Fund (NYSE: EFF)
Shareholder Meeting Results. At a special meeting of
shareholders held on February 26,
2021 (the "EFF Meeting"), EFF shareholders were asked to
approve a new investment advisory agreement for the Fund. The
EFF Meeting was adjourned to March 19,
2021 at 2:30 p.m. Eastern Time
to allow more time for shareholders to vote. The January 15, 2021 record date for shareholders
entitled to vote at the adjourned EFF Meeting remains unchanged
(the "EFF record date"). EFF shareholders who have already
voted do not need to take further action. Information about
the adjourned meeting appears below.
Eaton Vance Floating-Rate Income Trust (NYSE: EFT), Eaton
Vance New York Municipal Income Trust (NYSE American: EVY) and
Eaton Vance Senior Floating-Rate Trust (NYSE: EFR) Joint
Shareholder Meeting Results. At a joint special meeting
of shareholders held on February 26,
2021 (the "Joint Fund Meeting" and, together with the EFF
Meeting, the "Meetings"), EFT, EVY and EFR shareholders were asked
to approve new investment advisory agreements for each Fund.
The Joint Fund Meeting was adjourned to March 19, 2021 at 10:30
a.m. Eastern Time to allow more time for shareholders to
vote. The October 29, 2020
record date for shareholders entitled to vote at the adjourned
Joint Fund Meeting remains unchanged (the "Joint Fund Meeting
record date" and, together with the EFF record date, the "record
dates"). EFT, EVY and EFR shareholders who have already voted
do not need to take further action. Information about the
adjourned meeting appears below.
Interim Agreements. As previously disclosed, the
Boards of Trustees of the Funds (the "Boards") have approved
interim investment advisory agreements with EVM (the "Interim
Agreements") taking effect upon the close of the Transaction.
The Interim Agreements allow EVM to continue to manage the Funds
for up to an additional 150 days to provide more time for further
proxy solicitation and the Boards' consideration of different
options for the Funds. The terms of the Interim Agreement for
each Fund are substantially identical to those of such Fund's prior
investment advisory agreement except for term and escrow provisions
required by applicable law.
The Adjourned Meetings. If, as of the relevant
record date, you were a Fund shareholder and have not yet voted,
the Funds urge you to submit your vote in advance of the relevant
adjourned Meeting by one of the methods described in the Funds'
proxy materials. The Funds' proxy statements are available online
at
https://funds.eatonvance.com/closed-end-fund-and-term-trust-documents.php.
If, as of the relevant record date, you were a holder of record
of a Fund's shares (i.e., you held Fund shares in your own
name directly with the Fund) and wish to participate in and vote at
the relevant adjourned Meeting, you should email your full name and
address to AST at attendameeting@astfinancial.com. You will
then be provided with credentials to participate in the adjourned
Meeting. You will be able to vote by entering the control
number found on the proxy card you previously received. All
requests to participate in and/or vote at the adjourned Meetings
must be received by AST by no later than 3:00 p.m. Eastern Time on March 18, 2021.
If, as of the relevant record date, you held a Fund's shares
through an intermediary (such as a broker-dealer) and wish to
participate in and vote at the relevant adjourned Meeting, you will
need to obtain a legal proxy from your intermediary reflecting the
Fund's name, the number of Fund shares you held and your name and
email address. You may forward an email from your
intermediary containing the legal proxy or attach an image of the
legal proxy to an email and send it to AST at
attendameeting@astfinancial.com with "Legal Proxy" in the subject
line. You will then be provided with credentials to
participate in the relevant adjourned Meeting, as well as a unique
control number to vote your shares. If you would like to
participate in, but NOT vote at, an adjourned Meeting, please send
an email to AST at attendameeting@astfinancial.com with proof of
ownership of Fund shares. A statement, letter or the Vote
Instruction Form from your intermediary will be sufficient proof of
ownership. You will then be provided with credentials to
participate in the relevant adjourned Meeting. All requests
to participate in and/or vote at the adjourned Meetings must be
received by AST by no later than 3:00 p.m.
Eastern Time on March 18,
2021.
Please contact AST at attendameeting@astfinancial.com with any
questions regarding access to the adjourned Meetings, and an AST
representative will contact you to answer your questions.
The Funds' investment adviser is Eaton Vance Management.
Eaton Vance Corp. was acquired by Morgan Stanley on
March 1, 2021. Its Eaton Vance
Management, Parametric, Atlanta Capital and Calvert investment
affiliates are now part of Morgan Stanley Investment Management,
the asset management division of Morgan Stanley. These investment
managers offer a diversity of investment approaches, encompassing
bottom-up fundamental active management, responsible investing,
systematic investing and customized implementation of
client-specified portfolio exposures.
Shares of closed-end funds often trade at a discount from their
net asset value. The market price of Fund shares may vary from net
asset value based on factors affecting the supply and demand for
shares, such as Fund distribution rates relative to similar
investments, investors' expectations for future distribution
changes, the clarity of a Fund's investment strategy and future
return expectations, and investors' confidence in the underlying
markets in which the Fund invests. Fund shares are subject to
investment risk, including possible loss of principal invested.
Each Fund is not a complete investment program and you may lose
money investing therein. An investment in a Fund may not be
appropriate for all investors. Before investing, prospective
investors should consider carefully a Fund's investment objective,
strategies, risks, charges and expenses.
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