EATON VANCE ENHANCED EQUITY INCOME FUND BOSTON, Oct. 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 nine months ended June 30, 2014. The Fund's fiscal year ends on September 30, 2014.
For the three months ended June 30, 2014, the Fund had net investment income of $910,760 ($0.023 per common share). For the nine months ended June 30, 2014, the Fund had net investment income of $2,593,127 ($0.066 per common share). In comparison, for the three months ended June 30, 2013, the Fund had net investment income of $1,024,750 ($0.026 per common share). For the nine months ended June 30, 2013, the Fund had net investment income of $3,940,108 ($0.100 per common share).
Net realized and unrealized gains for the three months ended June 30, 2014 were $26,186,704 ($0.665 per common share) and net realized and unrealized gains for the nine months ended June 30, 2014 were $83,032,460 ($2.119 per common share). In comparison, net realized and unrealized gains for the three months ended June 30, 2013 were $3,761,229 ($0.088 per common share) and net realized and unrealized gains for the nine months ended June 30, 2013 were $38,631,118 ($0.980 per common share).
On June 30, 2014, net assets of the Fund were $579,529,914. The net asset value per common share on June 30, 2014 was $14.79 based on 39,173,049 common shares outstanding. In comparison, on June 30, 2013, net assets of the Fund were $508,797,434. The net asset value per common share on June 30, 2013 was $12.98 based on 39,193,049 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 $288.2 billion in assets as of July 31, 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 Nine Months Ended
June 30, June 30,
-------- --------
2014 2013 2014 2013
---- ---- ---- ----
Gross investment income $2,486 $2,498 $7,267 $8,270
Operating expenses (1,575) (1,473) (4,674) (4,330)
------ ------ ------ ------
Net investment income $911 $1,025 $2,593 $3,940
Net realized and unrealized gains (losses)
on investments $26,186 $3,761 $83,032 $38,631
------- ------ ------- -------
Net increase (decrease) in net
assets
from operations $27,097 $4,786 $85,625 $42,571
Earnings per Common Share Outstanding
-------------------------------------
Gross investment income $0.063 $0.064 $0.185 $0.210
Operating expenses (0.040) (0.038) (0.119) (0.110)
------ ------ ------ ------
Net investment income $0.023 $0.026 $0.066 $0.100
Net realized and unrealized gains (losses)
on investments $0.665 $0.088 $2.119 $0.980
------ ------ ------ ------
Net increase (decrease) in net
assets
from operations $0.688 $0.114 $2.185 $1.080
Net Asset Value at June 30 (Common Shares)
-----------------------------------------
Net assets $579,530 $508,797
Shares outstanding 39,173 39,193
Net asset value per share
outstanding $14.79 $12.98
Market Value Summary (Common Shares)
-----------------------------------
Market price on NYSE at June 30 $13.75 $11.96
High market price (period ended
June 30) $13.80 $12.35
Low market price (period ended June
30) $11.93 $10.16
SOURCE Eaton Vance Management
