BOSTON, June 29, 2021 / PRNewswire / – Eaton Vance Management (âEaton Vanceâ) today announced the appointment of Ralph H. Hinckley, Jr., CFA and Jake T. Lemle, CFA, to the portfolio management teams of Eaton Vance floating rate mutual funds, from June 30, 2021, and the retirement of Craig P. Russ, co-director of investments in variable rate loans, in June 2022.
Mr. Hinckley and Mr. Lemle will join Mr. Russ’s team and Andrew N. Sveen, CFA, as portfolio managers of Eaton Vance Floating-Rate Fund (Category I: EIBLX) and Eaton Vance Floating-Rate Advantage Fund (Category I: EIFAX) and the team of Mr. Russ, M . Sveen, Kelley Baccei Gerrity and Stephen C. Concannon, CFA, as portfolio managers of the Eaton Vance Variable Rate High Income Fund (Class I: EIFHX). In addition to their new roles in mutual fund management, Mr. Hinckley and Mr. Lemle will continue their current responsibilities within Eaton Vance’s variable rate loan group, Mr. Hinckley as a credit analyst and portfolio manager, and Mr. Lemle as director of loan trading and capital markets.
Mr. Russ will retain his responsibilities as co-director of investments in floating rate loans until the end of 2021 and his responsibilities for portfolio management, products based in the United States and outside the United States, until the end of 2021. ‘upon retirement. He will spend the next 12 months focusing on ensuring investment and service excellence as well as a smooth transition. Mr. Russ has been Co-Director of Variable Rate Loans Investments since 2014 and has co-led the Eaton Vance Variable Rate Group team with Mr. Sveen since March 2019. Mr. Russ has been a major contributor to Eaton Vance’s variable rate loan group since joining in 1997, as a credit research analyst, then as a portfolio manager and finally as a co-director. Mr. Russ began his career in the investment management industry in 1985. Prior to joining Eaton Vance, he worked in commercial lending at State Street Bank.
âThe promotion of Ralph and Jake to join the portfolio management teams of our industry-leading floating rate income funds is a testament to the depth of talent in our floating rate group and our confidence in Ralph and Jake,â said Eric stein, CFA, Director of Investments, Fixed Income, Eaton Vance. âCraig’s extensive leadership experience and investment knowledge, along with a deep understanding and connection with our clients, our culture and our industry, have been invaluable to the strong return on investments and the growth of our business. variable rate loan deductible. ”
Mr. Sveen will continue to lead the team as the sole director of variable rate loan investments in January 2022. He is a 26 year industry veteran with extensive knowledge of the variable rate loan market and Eaton Vance’s investment strategies, having previously held executive positions at Eaton Vance in credit research functions. variable rate, trading and portfolio management. Mr. Sveen served as Director of Lending and Capital Markets Operations from 2001 to 2019 and Portfolio Manager since 2007. He joined Eaton Vance as Senior Credit Analyst in 1999 and previously worked as a has been responsible for corporate loans at State Street Bank alongside Mr. Russ since 1995. Mr. Sveen is a member of the board of directors of the Loan Syndications & Trading Association.
Eaton Vance applies in-depth fundamental analysis to the active management of equity, income, alternative and multi-asset strategies. Eaton Vance’s investment teams follow proven investment principles that focus on continuous risk management, tax management (where applicable) and the pursuit of consistent long-term returns. The company’s investment capabilities span global financial markets. With a history dating back to 1924, Eaton Vance is headquartered in Boston and also maintains investment offices in new York, London, Tokyo and Singapore. For more information, visit evmanagement.com. Eaton Vance is part of Morgan Stanley Investment Management, the asset management division of Morgan Stanley.
This press release is provided for informational purposes only and is not intended to constitute, and does not constitute, an offer to buy or sell shares of any Fund. Additional information about the Funds, including information on the performance and characteristics of the portfolio, is available at eatonvance.com.
Statements in this press release that are not historical facts may be forward-looking statements, as defined by United States securities laws. You should exercise caution in interpreting and relying on forward-looking statements, as they are subject to uncertainties and other factors which may be beyond the control of a Fund and could cause actual results to occur. differ materially from those set forth in forward-looking statements.
SOURCE Eaton Vance Management