Eaton Vance
Asset manager
Profile
Name
Eaton Vance
Website
Eaton Vance provides advanced investment strategies and wealth management solutions to forward-thinking investors around the world. Through principal investment affiliates Eaton Vance Management, Parametric, Atlanta Capital, Hexavest and Calvert, the Company offers a diversity of investment approaches, encompassing bottom-up and top-down fundamental active management, responsible investing, systematic investing and customized implementation of client-specified portfolio exposures. Exemplary service, timely innovation and attractive returns across market cycles have been hallmarks of Eaton Vance since 1924. For more information, visit eatonvance.com.
Products and Solutions
Comments
OTHER: Portfolio implementation overlay services; Centralised portfolio management implementation.
Assets under management
Investment Beliefs
Eaton Vance affiliates operate independently, but share an enduring commitment to independent thinking, innovation and investment excellence. At the affiliate level, approaches to investing are fully consistent with their respective investment beliefs.
Eaton Vance Management is a fundamental active manager of equity, income, alternative and multi-asset strategies.
Parametric provides systematic investment strategies and custom portfolio solutions built on a foundation of investment science.
Hexavest are global equity managers utilizing a contrarian, top-down approach.
Calvert Research and Management is a global leader in responsibly invested equity, income, alternative and multi-asset strategies.
Market View
The market views held by investment teams will vary by the investment strategies of our different affiliates. We publish regular market views and thought leadership pieces as white papers, blog posts, asset-class specific market monitors and videos.
To find out more, please visit: https://www.eatonvance.nl/
Values and Objectives
Eaton Vance strives to be the premier investment management organisation. We seek to provide clients with superior performance, top quality service and value-added products across a range of investment disciplines and distribution channels. We seek to provide an attractive work environment and fulfilling careers for our dedicated employees. Through the success of clients and associates, we thereby seek to build long-term shareholder value.
Eaton Vance’s six core values are the cornerstones of our culture, guiding how we conduct our business and how we interact with one another each day.
· Integrity
· Professionalism
· Teamwork
· Client Focus
· Creativity/Adaptability
· Excellence
Performance Measurement
Fee Structure
Fee structures will vary depending on the asset class, the complexity and type of mandate (pooled vehicles/segregated accounts) as well as by the amount of assets invested.
Disclaimer
This material is issued by Eaton Vance Management (International) Limited ("EVMI") who is authorised and regulated in the United Kingdom by the Financial Conduct Authority. This material does not constitute an offer or solicitation to invest in the strategy mentioned herein. Past performance is not a reliable indicator of future results. Investment return and principal value will fluctuate. Performance is for the stated time period only; due to market volatility, the strategy's performance may be lower or higher than quoted. This communication and any investment or service to which it may relate is exclusively intended for persons who are Professional Clients or Eligible Counterparties for the purposes of the FCA Rules. This communication is not intended for use by any person or entity in any jurisdiction or country where such distribution or use would be contrary to local law or regulation.
Research & Insights
Asset Category
Published 6-4-2020
London - Eaton Vance and its affiliates seek to actively capitalize on opportunities presented by volatile investor sentiment, while ensuring that the portfolio risk profile remains appropriate for the specific strategy. The following are excerpts from a recent conversation with Jeff Mueller, Co-Director of High Yield Bonds and Multi-Asset Credit Portfolio Manager, Eaton Vance Advisers International Ltd.
Published 6-4-2020
Boston - Eaton Vance and its affiliates seek to actively capitalize on opportunities presented by volatile investor sentiment, while ensuring that the portfolio risk profile remains appropriate for the specific strategy. The following are excerpts from a recent conversation with Michael A. Cirami, CFA, Co-Director of Global Income for Eaton Vance Management.
Published 14-4-2020
Boston - Emerging markets debt (EM debt) suffered significant losses, along with most capital market sectors, as a result of the dual shocks of the COVID-19 outbreak and plunging oil prices. With rare exceptions, the financial and economic stress from COVID-19 was felt universally across all EM risk factors and countries. Financial aid packages from central banks and fiscal authorities globally helped stem the decline toward the end of the quarter.
Published 16-4-2020
Boston - Eaton Vance and its affiliates seek to actively capitalize on opportunities presented by volatile investor sentiment, while ensuring that the portfolio risk profile remains appropriate for the specific strategy. The following are excerpts from a recent conversation with Steve Concannon, CFA, Co-Director of High Yield Bonds and Portfolio Manager at Eaton Vance Management and Jeff Mueller, Co-Director of High Yield Bonds and Portfolio Manager at Eaton Vance Advisers International Ltd.
Published 16-4-2020
Boston - Eaton Vance and its affiliates seek to actively capitalize on opportunities presented by volatile investor sentiment, while ensuring that the portfolio risk profile remains appropriate for the specific strategy. The following are excerpts from a recent conversation with Steve Concannon, CFA, Co-Director of High Yield Bonds and Portfolio Manager at Eaton Vance Management and Jeff Mueller, Co-Director of High Yield Bonds and Portfolio Manager at Eaton Vance Advisers International Ltd.
Published 6-5-2020
In this Q&A, we discuss the broad outlook for emerging-market debt, paying particular attention to COVID-19 and the oil price drop, while also sharing our views on where the best opportunities can be found and why they believe that research, fundamental analysis and market access will be key for investment success at this critical time for the asset class.
Published 6-5-2020
A potentially bullish EM outlook is underpinned by deeply discounted prices and favorable value relative to DM assets. But the fundamental research capability required to identify potential winners and losers during this historic recovery has never been more crucial.
Published 15-5-2020
In this paper, we present our analysis of factor returns for the global small-cap equity universe and explain why we believe long-term investment opportunities remain for the asset class. Our findings show that high-quality companies reaped attractive excess returns during the heightened volatility of Q1 2020, while strong balance sheets also proved critical in protecting capital. Given that targeting financially strong, high-quality companies at attractive valuations is core to our QVT investment philosophy, these findings are particularly relevant at this crucial time for small-cap investing.
Published 28-5-2020
Investors are commonly advised not to try to time the market. While specific peaks and valleys can be difficult to predict with precision, we do know that bull and bear markets will happen. Investors that take the long view have the potential to achieve sustained gains overall.
Published 1-6-2020
For decades, the countries of the Gulf Cooperation Council (GCC) - Saudi Arabia, Oman, Bahrain, Qatar and the United Arab Emirates (UAE) - have pegged their currencies to the US dollar. Historically, the pegs have been a way for the gulf countries to use their huge dollar-denominated revenue streams from oil to maintain the purchasing power of local currencies and political stability.
Published 3-6-2020
Eaton Vance and its affiliates seek to actively capitalize on opportunities presented by volatile investor sentiment, while ensuring that the portfolio risk profile remains appropriate for the specific strategy. The following are excerpts from a recent conversation with Michael A. Cirami, CFA, and Eric Stein, CFA, Co-Directors of Global Income for Eaton Vance Management.
Published 9-6-2020
Eaton Vance and its affiliates seek to actively capitalize on opportunities presented by volatile investor sentiment, while ensuring that the portfolio risk profile remains appropriate for the specific strategy. The following are excerpts from a recent conversation with Aidan Farrell, Director of Global Small Cap Equity, Eaton Vance Global Advisors Limited and Calvert Research and Management.
Published 17-6-2020
Eaton Vance and its affiliates seek to actively capitalize on opportunities presented by volatile investor sentiment, while ensuring that the portfolio risk profile remains appropriate for the specific strategy. The following are excerpts from a recent conversation with Kelley Baccei, High Yield Portfolio Manager at Eaton Vance Management.
Published 1-7-2020
Eaton Vance and its affiliates seek to actively capitalize on opportunities presented by uncertainty about future market and economic outcomes, while ensuring that the portfolio risk profile remains appropriate for the specific strategy. Here are excerpts from a recent conversation with Stephen C. Concannon, CFA, Co-Director of High Yield Bonds and Portfolio Manager for Eaton Vance Management.
Published 9-7-2020
Global small caps present one of the largest, most diverse and least researched segments of the public equity markets.
Published 14-7-2020
The second quarter represented a dramatic rebound for financial markets, including emerging markets, after the severe sell-off in March. COVID-19 continues to pose a generational challenge to the lives and livelihoods of some of the world's most vulnerable people.
Published 7-8-2020
n this Q&A, Brad Godfrey, CFA, institutional portfolio manager and director of alternative & asset allocation strategies, discusses the recent performance and outlook for emerging-market debt.
Published 12-8-2020
Credit markets enter the home stretch of summer sporting both higher yields and spreads than before the COVID pandemic. Notwithstanding a four-month rally alongside capital markets broadly — and in no small part a function of the collapse of yield curves in the US and elsewhere — the income potential in the credit space has widened significantly relative to low-yielding high-grade alternatives. High-yield bonds and loans have rebounded sharply, but opportunity remains.
Asset Management
Published 18-3-2020
Companies with strong governance and a focus on getting the community through the Covid-19 pandemic should be better positioned for long-term success. Companies that take the long view, put the health and safety of employees first and serve customers well should be positioned to emerge as leaders in their industries.
Published 20-3-2020
From a professional perspective, the EM debt team is highly experienced at evaluating monetary and fiscal policy, and well acquainted with the crisis mentality and volatile episodes that are inevitable in this sector. Our pledge to clients and prospects is to use this skill set to maximize value in our portfolios through this difficult period, until the longer-term growth trajectory that has historically characterized EM countries once again comes into view.
Published 23-3-2020
Markets rarely trade only on fundamentals and the uncertainty surrounding the evolution of the current COVID-19 pandemic may well push spreads wider. That said, we believe that current levels may present an attractive entry point for investors who are highly selective in their approach and seek to allocate on a longer-term investment horizon.
Published 25-3-2020
In this paper, Eaton Vance explores the key drivers of sovereign bond ratings, spread performance and frequency of defaults for a data set of 127 countries from 2000 to 2016.
Published 1-4-2020
London - Credit spreads blowing out past 800bps is a rare phenomenon in high-yield corporate bond markets. With that said, these bouts of volatility have historically created brief entry points to capitalise on attractive tactical opportunities.
Published 19-6-2020
Affiliate Calvert Research and Management (Calvert) commits to ongoing action to achieve racial equity. As long-term investors, we believe that systemic racism not only offends human dignity, but also damages the economy on which our investment returns depend.
Published 22-6-2020
Eaton Vance’s ability to build bespoke multi-asset credit solutions is gaining recognition among sophisticated investors. To find out more, view the video.
Published 19-6-2020
Eaton Vance claims to be one of the most successful investment managers of leveraged credit in the world. Hype or fact? View the video.
Published 22-6-2020
Topsy-turvy market conditions often raise questions among investors. Here, Eaton Vance explains how a focus on “downside risk” management in their credit portfolios can, in their view, keep investors on track to achieve their long-term goals. View the video.
Published 22-6-2020
Securitised credit got a bad rap during the financial crisis, but things have changed. Today, this area consistently offers attractive investment opportunities, according to Eaton Vance. View the video.
Published 22-6-2020
Single-asset credit or multi-asset credit? Why would an investor choose one over the other? To find out, view this Eaton Vance video.
Published 22-6-2020
Environmental, Social and Governance (ESG) considerations are absolutely relevant to successful credit investing, according to Eaton Vance credit experts. View this video.
Published 22-6-2020
People eager for a higher level of income might want to consider a “one-stop” multi-asset credit solution, according to Eaton Vance. This type of investment portfolio accesses multiple markets offering opportunities for relatively high levels of income. More in this video.
Published 23-6-2020
The increase in demand for e-commerce over the past few years, which took another leap forward during the COVID-19 pandemic, may either introduce or eliminate financially material ESG risks. Among the areas where ESG impacts need to be considered are labor, digitization, environment and data privacy. This issue brief addresses some of the specific ways Calvert looks at and acts upon when evaluating companies to determine whether they are balancing all stakeholder interests over the long term.
Market & Macro
Published 29-1-2020
Statements by Guzman and Kicillof indicate that the administration is staking out a hard line as it prepares to negotiate over the country's debt. Creditors who are ready to dismiss this as an opening gambit should recall that Argentina has already defaulted eight times. Hopes for a "market-friendly" debt restructuring may prove illusory.
Published 5-2-2020
In late January, news that a novel coronavirus 2019-nCoV had emerged in Wuhan, Hubei Province, China began to impact financial markets. To date, it is estimated that there have been more than 20,000 cases worldwide, with more than 99% of those in China, and the vast majority of those in Hubei.
Published 13-2-2020
The impact of the new coronavirus, now formally dubbed Covid-19, on China will take time to fully emerge. Since the SARS epidemic struck in 2003, the only constants have been the Communist regime, the secrecy of its operations and pervasiveness of its control. The internet was in its infancy then and China's economy was substantially smaller and much less crucial to global supply chains.
Published 21-2-2020
Lebanon's recent troubles have a key takeaway: Passive investing may have an increasing role in today's markets, but we do not believe it is the best approach for EM investors.
Published 28-2-2020
Until the world gets a better handle on the specifics of the coronavirus, uncertainty and caution will drive the impact on emerging markets and the rest of the global economy. The emerging markets debt team will be monitoring the situation closely and sharing our views with you as they take shape.
Published 10-3-2020
As regions try methods such as containment and mitigations, their efforts will likely have a major impact on whether to expect V- or U-shaped paths for their individual economies. For the world, we expect the economic path to collectively be a series of W's.
Published 21-4-2020
The energy sector has been the largest contributor to the increase in default volume in US high yield over the last several months, and we expect further increases. In our view, now is not the time to bet on distressed producers. It is the time to sharpen the pencil on producers with the highest quality acreage and prudent management teams who have the greatest relative liquidity and optionality.
Published 22-4-2020
Eaton Vance and its affiliates seek to actively capitalize on opportunities presented by volatile investor sentiment, while ensuring that the portfolio risk profile remains appropriate for the specific strategy. The following are excerpts from a recent conversation with Jeff Mueller, Co-Director of High Yield Bonds and Portfolio Manager at Eaton Vance Advisers International Ltd and Justin H. Bourgette, CFA, Portfolio Manager at Eaton Vance Management.
Published 15-5-2020
In this Q&A, Eaton Vance high-yield experts provide an update on market movements and changes in the macro environment as of May 1, 2020 and offer their thoughts on investment opportunities at this juncture.
Published 27-5-2020
Headlines tracking the scope of the coronavirus pandemic — such as new daily cases and death rates — may be driving investor sentiment. We've been monitoring key reports to gain some visibility into how much longer the crisis could continue. Here are the latest health and public policy updates related to COVID-19, developments that we consider either bullish or bearish, and the economic and market impacts.
Published 11-6-2020
Despite historic levels of global economic contraction in the first quarter, almost every major asset class posted a positive return in April — possibly pricing in the quick development of a COVID-19 treatment.
Published 17-7-2020
This issue brief is an update of affiliate Calvert’s views on the risks that opioid exposure presents to the pharmaceutical industry. In addition to updated data, it features a new section on COVID-19’s impact and the potential for it to create a “second wave” of the opioid epidemic.
Published 4-8-2020
Headlines tracking the scope of the coronavirus pandemic — such as new daily cases and death rates — may be driving investor sentiment. We continue to monitor key reports to gain some visibility into how much longer this global crisis could continue. Here are the latest health and public policy updates related to COVID-19, developments that we consider either bullish or bearish, and the economic and market impacts.
Published 4-8-2020
Investors are commonly advised not to try to time the market. While specific peaks and valleys can be difficult to predict with precision, we do know that bull and bear markets will happen. Investors that take the long view have the potential to achieve sustained gains overall.
Published 5-8-2020
In-depth review of asset class and economic activity via impactful charts and analysis.
Published 6-8-2020
Here's our take on the latest debt restructuring news out of Argentina and Ecuador.