Three Eaton Vance tax-advantaged funds ease limit on junk investments

By Marisa Wong

Madison, Wis., Aug. 7 - Eaton Vance Tax-Advantaged Dividend Income Fund, Eaton Vance Tax-Advantaged Global Dividend Income Fund and Eaton Vance Tax-Advantaged Global Dividend Opportunities Fund announced a change to their investment policies.

According to a press release, each fund has eliminated the requirement that the portion of the fund's assets invested in preferred stock be primarily of investment-grade quality.

In addition, each fund is now authorized to invest up to 30% of its total assets in securities rated below investment grade. Previously, the funds were only allowed to invest up to 10% of its total assets in securities rated below investment grade.

Each fund will continue, as before, to invest at least 80% of its total assets in dividend-paying common and preferred stocks that the investment adviser believes at the time of investment are eligible to pay dividends qualifying for federal income taxation at rates applicable to long-term capital gains.

The three funds are managed by Eaton Vance Management, which is a subsidiary of Eaton Vance Corp., a Boston-based investment management firm.

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