Eaton Vance plans to offer new investment-grade bond fund in January

By Toni Weeks

San Diego, Nov. 14 - Eaton Vance Special Investment Trust said it plans to offer a new fund in January that invests in investment-grade bonds, according to an N-1A filing with the Securities and Exchange Commission.

The Eaton Vance Bond Fund will seek total return by investing at least 80% of its net assets in bonds and other income instruments rated investment grade. The fund may invest up to 35% of its net assets in high-yield bonds and income instruments and up to 20% in common stocks and other equity securities.

The fund's portfolio management team will be led by Kathleen Gafney.

The fund will offer class A, class C and class I shares. Ticker symbols have not yet been set.

Shareholder fees will consist of a 4.75% maximum sales charge for class A shares and a 1% maximum deferred sales charge for class C shares.

Management fees will run 0.55%. Due to an expense reimbursement agreement with the investment adviser, total annual fund operating expenses will be limited to 0.95% for class A shares, 1.7% for class C shares and 0.7% for class I shares until Feb. 28, 2014.

Boston-based Eaton Vance Management will be the investment adviser.

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