EATON VANCE ENHANCED EQUITY INCOME FUND BOSTON, July 9, 2014 /PRNewswire/ -- Eaton Vance Enhanced Equity Income Fund (NYSE: EOI), a diversified closed-end management investment company, today announced the earnings of the Fund for the three months and six months ended March 31, 2014. The Fund's fiscal year ends on September 30, 2014.
For the three months ended March 31, 2014, the Fund had net investment income of $726,287 ($0.019 per common share). For the six months ended March 31, 2014, the Fund had net investment income of $1,682,367 ($0.043 per common share). In comparison, for the three months ended March 31, 2013, the Fund had net investment income of $836,838 ($0.022 per common share). For the six months ended March 31, 2013, the Fund had net investment income of $2,915,358 ($0.074 per common share).
Net realized and unrealized gains for the three months ended March 31, 2014 were $4,742,094 ($0.124 per common share) and net realized and unrealized gains for the six months ended March 31, 2014 were $56,845,756 ($1.454 per common share). In comparison, net realized and unrealized gains for the three months ended March 31, 2013 were $39,236,530 ($1.002 per common share) and net realized and unrealized gains for the six months ended March 31, 2013 were $34,869,889 ($0.892 per common share).
On March 31, 2014, net assets of the Fund were $562,557,202. The net asset value per common share on March 31, 2014 was $14.36 based on 39,173,049 common shares outstanding. In comparison, on March 31, 2013, net assets of the Fund were $515,028,978. The net asset value per common share on March 31, 2013 was $13.12 based on 39,268,049 common shares outstanding.
The Fund periodically makes certain performance data and information about portfolio characteristics available on www.eatonvance.com (on the fund information page under "Individual Investors - Closed-End Funds"). Fund portfolio holdings for the most recent month-end are also posted to the website approximately 30 days following month-end.
The Fund is managed by Eaton Vance Management, a subsidiary of Eaton Vance Corp. (NYSE: EV), based in Boston, one of the oldest investment management firms in the United States, with a history dating back to 1924. Eaton Vance and its affiliates managed $285.9 billion in assets as of April 30, 2014, offering individuals and institutions a broad array of investment strategies and wealth management solutions. The Company's long record of providing exemplary service and attractive returns through a variety of market conditions has made Eaton Vance the investment manager of choice for many of today's most discerning investors. For more information about Eaton Vance, visit www.eatonvance.com.
EATON VANCE ENHANCED EQUITY INCOME FUND
SUMMARY OF RESULTS OF OPERATIONS
(in thousands, except per share amounts)
Three Months Ended Six Months Ended
March 31, March 31,
2014 2013 2014 2013
---- ---- ---- ----
Gross investment income $2,262 $2,274 $4,781 $5,772
Operating expenses (1,536) (1,438) (3,099) (2,857)
------ ------ ------ ------
Net investment income $726 $836 $1,682 $2,915
Net realized and unrealized gains (losses)
on investments $4,742 $39,237 $56,846 $34,870
------ ------- ------- -------
Net increase (decrease) in net
assets
from operations $5,468 $40,073 $58,528 $37,785
Earnings per Common Share Outstanding
-------------------------------------
Gross investment income $0.058 $0.058 $0.122 $0.146
Operating expenses (0.039) (0.036) (0.079) (0.072)
------ ------ ------ ------
Net investment income $0.019 $0.022 $0.043 $0.074
Net realized and unrealized gains (losses)
on investments $0.124 $1.002 $1.454 $0.892
------ ------ ------ ------
Net increase (decrease) in net
assets
from operations $0.143 $1.024 $1.497 $0.966
Net Asset Value at March 31 (Common Shares)
------------------------------------------
Net assets $562,557 $515,029
Shares outstanding 39,173 39,268
Net asset value per share
outstanding $14.36 $13.12
Market Value Summary (Common Shares)
-----------------------------------
Market price on NYSE at March 31 $13.07 $11.68
High market price (period ended
March 31) $13.26 $11.71
Low market price (period ended
March 31) $11.93 $10.16
SOURCE Eaton Vance Management
