Eaton Vance California Municipal Bond Fund Announces Earnings Results for the Second Quarter and Six Months Ended March 31, 2013
June 11, 2013 at 03:31 pm EDT
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Eaton Vance California Municipal Bond Fund announced earnings results for the second quarter and six months ended March 31, 2013. For the quarter, the fund reported net investment income of $3,786,000 against $3,494,000 a year ago. Net realized and unrealized loss on investments were $1,786,000 against net realized and unrealized gains on investments of $12,783,000 a year ago. Net increase in net assets from operations was $2,000,000 against $16,277,000 a year ago. Net investment income per common share was $0.174 against $0.161 a year ago. Net realized and unrealized loss on investments per common share were $0.084 against net realized and unrealized gains on investments per common share of $0.589 a year ago. Net increase in net assets from operations per common share was $0.090 against $0.750 a year ago. The net asset value per common share on March 31, 2012 was $12.92 against $12.39 a year ago.
For the six months, the fund reported net investment income of $7,540,000 against $7,615,000 a year ago. Net realized and unrealized loss on investments were $1,700,000 against net realized and unrealized gains on investments of $15,128,000 a year ago. Net increase in net assets from operations was $5,840,000 against $22,743,000 a year ago. Net investment income per common share was $0.347 against $0.350 a year ago. Net realized and unrealized loss on investments per common share were $0.080 against net realized and unrealized gain on investments per common share of $0.697 a year ago. Net increase in net assets from operations per common share was $0.267 against $1.047 a year ago.
Eaton Vance California Municipal Bond Fund is a non-diversified, closed-end management investment company. The Fund's investment objective is to provide current income exempt from federal income tax. The Funds may invest in residual interest bonds, also referred to as inverse floating rate securities, whereby it may sell a variable or fixed rate bond for cash to a Special-Purpose Vehicle (the SPV), while at the same time, buying a residual interest in the assets and cash flows of the SPV. The Fund invests in debt securities issued by California municipalities. The Fund's investment portfolio includes various sectors, such as housing, education, electric utilities, escrowed/pre-refunded, general obligations, senior living/life care, hospital, housing, insured-electric utilities, insured-general obligation, insured-transportation, and water and sewer. Eaton Vance Management is the investment advisor for the Fund.