Eaton Vance Bond Fund launches with class A, class I shares

By Toni Weeks

San Luis Obispo, Calif., Jan. 30 - Eaton Vance Special Investment Trust said it has launched a new fund that targets investment-grade bonds, according to an N-1A filing with the Securities and Exchange Commission.

The Eaton Vance Bond Fund seeks 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 is led by Kathleen C. Gaffney and includes Stephen C. Concannon and Michael J. Turgel.

The fund offers class A and class I shares. The ticker symbols are EVBAX and EVBIX, respectively.

Shareholder fees consist of a 4.75% maximum sales charge for class A shares.

There is no management fee, but the fund will incur distribution and service fees, acquired fund fees and other expenses. However, an expense reimbursement agreement with the investment adviser will limit total annual fund operating expenses to 0.95% for class A and 0.7% for class I shares through Feb. 28, 2014.

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

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