Overview

Fund Facts as of Aug 31, 2022

Class A Acc GBP (H) Inception 09/30/2010
Investment Objective Total return
Total Net Assets $104.5M
Minimum Investment1 $1000

Fund Codes

CUSIP G2919V209
ISIN IE00B5WLCN27
SEDOL B5WLCN2
Valor Number 10936051
Wertpapierkennnummer A0YKGV
 

The portfolio profile is subject to change due to active management. Percentages may not total 100 % due to rounding.

The use of leverage increases risks, such that a relatively small movement in the value of an investment may result in a disproportionately large movement, unfavorable as well as favorable, in the value of that investment and, in turn, the value of the Fund.

The Fund is actively managed in reference to the BofA 3-Month Treasury Bill Index (the "Index"). The Fund does not intend to track the Index and is not constrained by it. The Index is used for performance comparison purposes only and the Fund will generally not hold any of the components of the Index.
The investment objective of the Fund is to deliver a positive absolute return in all market conditions, in the form of income plus capital appreciation over a rolling three-year period. The Fund is actively managed and seeks to achieve its objective through exposure to currencies, and U.S. and non-U.S. interest rates and issuers. Such exposure may be achieved by investing in securities and other instruments, including, debt securities (which may be fixed and/or floating rate and rated or unrated) issued by governments of both developed and emerging market countries or their sub-divisions, government agencies and government-sponsored enterprises, mortgage-backed securities and other asset-backed securities, units in open and closed-ended collective investment schemes, inflation indexed bonds issued by both governmental, quasi-governmental and/or corporate issuers, corporate debt securities (including, without limitation, convertible securities and corporate commercial paper), structured products which comply with the requirements set out in the Central Bank UCITS Regulations, deposits and participation notes.

RISK CONSIDERATIONS 

Fund share values are sensitive to stock market volatility, adverse market, economic, political, regulatory, geopolitical and other conditions. In international markets, these risks may be more significant. An imbalance in supply and demand in the income market may result in valuation uncertainties and greater volatility, less liquidity, widening credit spreads and a lack of price transparency in the market. Investments in income securities may be affected by changes in the creditworthiness of the issuer and are subject to the risk of non-payment of principal and interest. The value of income securities also may decline because of real or perceived concerns about the issuer’s ability to make principal and interest payments. Derivative instruments can be used to take both long and short positions, be highly volatile, result in economic leverage (which can magnify losses) and involve risks in addition to the risks of the underlying instrument on which the derivative is based, such as counter-party, correlation and liquidity risk. If a counter-party is unable to honour its commitments, the value of Fund shares may decline and/or the Fund could experience delays in the return of collateral or other assets held by the counter-party. As interest rates rise, the value of certain income investments is likely to decline. Because the Fund investments may be concentrated in a particular geographic region or country, the Fund share value may fluctuate more than that of a less concentrated fund. Investments rated below the investment grade (typically referred to as 'junk') are generally subject to greater price volatility and illiquidity than higher-rated investments. No fund is a complete investment programme and you may lose money investing in a fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.


Performance

Calendar Year Returns (%)

Past performance is no guarantee of future results.

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Fund at NAV 3.53 -2.14 2.59 1.84 2.10 4.20 -11.19 10.58
ICE BofA 3Mo T-Bill - USD/GBP 0.05
US LIBOR Total Return 3-month Index2 0.46 0.28 0.24 0.28 0.71 1.18
 

Fund Facts

Class A Acc GBP (H) Inception 09/30/2010
 

NAV History

Date NAV NAV Change
Sep 14, 2022 $9.63 $0.00
Sep 13, 2022 $9.63 $0.00
Sep 12, 2022 $9.63 $0.00
Sep 09, 2022 $9.63 $0.00
Sep 08, 2022 $9.63 $0.00
Sep 07, 2022 $9.63 $0.13
Sep 06, 2022 $9.50 -$0.13
Sep 02, 2022 $9.63 $0.00
Aug 30, 2022 $9.63 $0.00
Aug 29, 2022 $9.63 $0.00
 

Distribution History3

Ex-Date Distribution Reinvest NAV
No records in this table indicates that there has not been a distribution greater than .0001 within the past 3 years.
Fund prospectus

The portfolio profile is subject to change due to active management. Percentages may not total 100 % due to rounding.

The use of leverage increases risks, such that a relatively small movement in the value of an investment may result in a disproportionately large movement, unfavorable as well as favorable, in the value of that investment and, in turn, the value of the Fund.

The Fund is actively managed in reference to the BofA 3-Month Treasury Bill Index (the "Index"). The Fund does not intend to track the Index and is not constrained by it. The Index is used for performance comparison purposes only and the Fund will generally not hold any of the components of the Index.
The investment objective of the Fund is to deliver a positive absolute return in all market conditions, in the form of income plus capital appreciation over a rolling three-year period. The Fund is actively managed and seeks to achieve its objective through exposure to currencies, and U.S. and non-U.S. interest rates and issuers. Such exposure may be achieved by investing in securities and other instruments, including, debt securities (which may be fixed and/or floating rate and rated or unrated) issued by governments of both developed and emerging market countries or their sub-divisions, government agencies and government-sponsored enterprises, mortgage-backed securities and other asset-backed securities, units in open and closed-ended collective investment schemes, inflation indexed bonds issued by both governmental, quasi-governmental and/or corporate issuers, corporate debt securities (including, without limitation, convertible securities and corporate commercial paper), structured products which comply with the requirements set out in the Central Bank UCITS Regulations, deposits and participation notes.

RISK CONSIDERATIONS 

Fund share values are sensitive to stock market volatility, adverse market, economic, political, regulatory, geopolitical and other conditions. In international markets, these risks may be more significant. An imbalance in supply and demand in the income market may result in valuation uncertainties and greater volatility, less liquidity, widening credit spreads and a lack of price transparency in the market. Investments in income securities may be affected by changes in the creditworthiness of the issuer and are subject to the risk of non-payment of principal and interest. The value of income securities also may decline because of real or perceived concerns about the issuer’s ability to make principal and interest payments. Derivative instruments can be used to take both long and short positions, be highly volatile, result in economic leverage (which can magnify losses) and involve risks in addition to the risks of the underlying instrument on which the derivative is based, such as counter-party, correlation and liquidity risk. If a counter-party is unable to honour its commitments, the value of Fund shares may decline and/or the Fund could experience delays in the return of collateral or other assets held by the counter-party. As interest rates rise, the value of certain income investments is likely to decline. Because the Fund investments may be concentrated in a particular geographic region or country, the Fund share value may fluctuate more than that of a less concentrated fund. Investments rated below the investment grade (typically referred to as 'junk') are generally subject to greater price volatility and illiquidity than higher-rated investments. No fund is a complete investment programme and you may lose money investing in a fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.


Portfolio

Asset Mix (%)4,5 as of Aug 31, 2022

Portfolio Statistics as of Aug 31, 2022

Average Duration 2.80 yrs.
Countries Represented 79
 

Credit Quality (%)6 as of Aug 31, 2022

AAA 39.14
AA 0.00
A 1.92
BBB 5.28
BB 17.31
B 26.29
CCC or Lower 9.14
Not Rated 0.91
Total 100.00
Ratings are based on Moody's, S&P or Fitch, as applicable. If securities are rated differently by the ratings agencies, the highest rating is applied. Ratings, which are subject to change, apply to the creditworthiness of the issuers of the underlying securities and not to the Fund or its shares. Credit ratings measure the quality of a bond based on the issuer's creditworthiness, with ratings ranging from AAA, being the highest, to D, being the lowest based on S&P's measures. Ratings of BBB or higher by S&P or Fitch (Baa or higher by Moody's) are considered to be investment-grade quality. Credit ratings are based largely on the ratings agency's analysis at the time of rating. The rating assigned to any particular security is not necessarily a reflection of the issuer's current financial condition and does not necessarily reflect its assessment of the volatility of a security's market value or of the liquidity of an investment in the security. Holdings designated as "Not Rated" are not rated by the national ratings agencies stated above.

Foreign Currency Exposure (%)7 as of Aug 31, 2022

Australian Dollar 5.39
Singapore Dollar 3.36
Malaysian Ringgit -3.3
Bahraini Dinar -3.31
South African Rand -3.72
Saudi Riyal -3.91
Philippine Peso -4.06
Omani Rial -5.77
Chinese Renminbi -8.55
United Arab Emirates Dirham -11.02
View All
 

Foreign Sovereign External Debt (%)8 as of Aug 31, 2022

Vietnam 4.49
Tanzania 3.61
Suriname 3.40
Philippines -3.54
Euro -3.74
Qatar -3.82
South Africa -5.53
United Kingdom -7.38
Malaysia -11.90
Saudi Arabia -20.82
View All

The portfolio profile is subject to change due to active management. Percentages may not total 100 % due to rounding.

RISK CONSIDERATIONS 

Fund share values are sensitive to stock market volatility, adverse market, economic, political, regulatory, geopolitical and other conditions. In international markets, these risks may be more significant. An imbalance in supply and demand in the income market may result in valuation uncertainties and greater volatility, less liquidity, widening credit spreads and a lack of price transparency in the market. Investments in income securities may be affected by changes in the creditworthiness of the issuer and are subject to the risk of non-payment of principal and interest. The value of income securities also may decline because of real or perceived concerns about the issuer’s ability to make principal and interest payments. Derivative instruments can be used to take both long and short positions, be highly volatile, result in economic leverage (which can magnify losses) and involve risks in addition to the risks of the underlying instrument on which the derivative is based, such as counter-party, correlation and liquidity risk. If a counter-party is unable to honour its commitments, the value of Fund shares may decline and/or the Fund could experience delays in the return of collateral or other assets held by the counter-party. As interest rates rise, the value of certain income investments is likely to decline. Because the Fund investments may be concentrated in a particular geographic region or country, the Fund share value may fluctuate more than that of a less concentrated fund. Investments rated below the investment grade (typically referred to as 'junk') are generally subject to greater price volatility and illiquidity than higher-rated investments. No fund is a complete investment programme and you may lose money investing in a fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.


Management

John R. Baur

John R. Baur

Managing Director, Co-Head of Emerging Markets
Joined Eaton Vance in 2005

Biography

John is Co-Head of Emerging Markets and portfolio manager for the Emerging Markets team. He is responsible for co-leading the team with investment professionals based in Boston, Washington, D.C., London and Singapore, as well as for buy and sell decisions, portfolio construction and risk management for the team’s emerging markets strategies. He joined Eaton Vance in 2005. Morgan Stanley acquired Eaton Vance in March 2021.

John began his career in the investment management industry in 2005. Before joining Eaton Vance, he was employed by Applied Materials in an engineering capacity, spending five of his seven years at the firm in Asia.

John earned a B.S. from MIT and an M.B.A. from the Johnson Graduate School of Management at Cornell University.

Education
  • B.S. Massachusetts Institute of Technology
  • M.B.A. Johnson Graduate School of Management, Cornell University

Experience
  • Managed Fund since 2010

 
Kyle Lee, CFA

Kyle Lee, CFA

Executive Director, Portfolio Manager
Joined Eaton Vance in 2007

Biography

Kyle Lee is a portfolio manager on the Emerging Markets team. He is responsible for buy and sell decisions, portfolio construction and risk management for the team’s emerging markets strategies. He is also responsible for the analysis of macroeconomics, politics and financial markets of Asia, Western Europe and the Dollar Bloc and the management of regional investments in various emerging markets debt portfolios.

He began his career in the investment management industry with Eaton Vance in 2007. Morgan Stanley acquired Eaton Vance in March 2021.

Kyle earned a B.A. from Wesleyan University and is a CFA charterholder.

Education
  • B.A. Wesleyan University

Experience
  • Managed Fund since 2021

 
Patrick Campbell, CFA

Patrick Campbell, CFA

Executive Director, Portfolio Manager
Joined Eaton Vance in 2008

Biography

Patrick Campbell is a portfolio manager on the Emerging Markets team. He is responsible for buy and sell decisions, portfolio construction and risk management for the team’s emerging markets strategies. He is also responsible for the analysis of macroeconomics, politics and financial markets of Latin America and the management of regional investments in various emerging markets portfolios. He began his career in the investment management industry with Eaton Vance in 2008. Morgan Stanley acquired Eaton Vance in March 2021.

Patrick earned a B.A. from Boston College. He is a member of the CFA Society Boston and is a CFA charterholder.

Education
  • B.A. Boston College

Experience
  • Managed Fund since 2021

 
Federico Sequeda, CFA

Federico Sequeda, CFA

Executive Director, Portfolio Manager
Joined Eaton Vance in 2010

Biography

Federico Sequeda is a portfolio manager on the Emerging Markets team. He is responsible for buy and sell decisions, portfolio construction and risk management for the team’s emerging markets strategies. He joined Eaton Vance in 2010. Morgan Stanley acquired Eaton Vance in March 2021.

Federico began his career in the investment management industry in 2009. Before joining Eaton Vance, he was an investment associate with Bridgewater Associates, LP.

Federico earned a B.A., magna cum laude, from Dartmouth College. He is a CFA charterholder.

Education
  • B.A. Dartmouth College

Experience
  • Managed Fund since 2021

 
Hussein Khattab, CFA

Hussein Khattab, CFA

Executive Director, Portfolio Manager
Joined Eaton Vance in 2013

Biography

Hussein Khattab is a portfolio manager on the Emerging Markets team. He is responsible for buy and sell decisions, portfolio construction and risk management for the team’s emerging markets strategies. He is focused on the analysis of macroeconomics, politics and financial markets of Central and Eastern Europe, the Middle East and Africa, and the management of regional investments in various emerging markets portfolios. He began his career in the investment management industry with Eaton Vance in 2013. Morgan Stanley acquired Eaton Vance in March 2021.

Hussein earned a BEngineering from the American University of Beirut and an M.S. in mathematical finance from Boston University. He is a CFA charterholder.

Education
  • American University of Beirut
  • Boston University

Experience
  • Managed Fund since 2021

 

Literature

Literature

Fact Sheet (Italian)

Download Fact Sheet (Italian) - Last updated: Aug 31, 2022

Fact Sheet (English)

Download Fact Sheet (English) - Last updated: Aug 31, 2022

Fact Sheet (Spanish)

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Commentary (English)

Download Commentary (English) - Last updated: Jun 30, 2022

Fund Review

Download Fund Review - Last updated: Jul 31, 2022

Annual Report (Swiss German)

Download Annual Report (Swiss German) - Last updated: Dec 31, 2021

Annual Report (English)

Download Annual Report (English) - Last updated: Dec 31, 2021

Eaton Vance International (Ireland) Funds Full Prospectus (Switzerland - German)

Download Eaton Vance International (Ireland) Funds Full Prospectus (Switzerland - German) - Last updated: Oct 1, 2021

Eaton Vance International (Ireland) Funds Full Prospectus (Switzerland - English)

Download Eaton Vance International (Ireland) Funds Full Prospectus (Switzerland - English) - Last updated: Oct 1, 2021

Eaton Vance Global Advisors Limited Privacy Statement

Download Eaton Vance Global Advisors Limited Privacy Statement - Last updated: Apr 17, 2018

Int'l (Ireland) Global Macro Holdings

Download Int'l (Ireland) Global Macro Holdings - Last updated: Jul 31, 2022

Important Documents including Key Investor Information Documents (KIID)

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Prospectus Supplement (German)

Download Prospectus Supplement (German) - Last updated: Dec 13, 2021

Semiannual Report (English)

Download Semiannual Report (English) - Last updated: Jun 30, 2022

Semiannual Report (Swiss German)

Download Semiannual Report (Swiss German) - Last updated: Jun 30, 2022