BOSTON, Nov. 4, 2013 /PRNewswire/ -- Eaton Vance Short Duration Diversified Income Fund (NYSE: EVG) (the "Fund"), a closed-end management investment company, today announced the earnings of the Fund for the three and nine months ended July 31, 2013. The Fund's fiscal year ended on October 31, 2013.
For the three months ended July 31, 2013, the Fund had net investment income of $3,444,950 ($0.183 per share). For the nine months ended July 31, 2013, the Fund had net investment income of $11,479,011 ($0.608 per share). In comparison, for the three months ended July 31, 2012, the Fund had net investment income of $3,847,466 ($0.204 per share). For the nine months ended July 31, 2012, the Fund had net investment income of $11,760,956 ($0.623 per share).
Net realized and unrealized losses for the three months ended July 31, 2013 were $10,605,673 ($0.562 per share). Net realized and unrealized losses for the nine months ended July 31, 2013 were $11,222,282 ($0.594 per share). In comparison, net realized and unrealized losses for the three months ended July 31, 2012 were $780,398 ($0.045 per share). Net realized and unrealized gains for the nine months ended July 31, 2012 were $2,949,509 ($0.156 per share).
On July 31, 2013, net assets of the Fund were $322,359,086. The net asset value per share on July 31, 2013 was $17.07 based on 18,886,596 shares outstanding. In comparison, on July 31, 2012, net assets of the Fund were $335,577,019. The net asset value per share on July 31, 2012 was $17.77 based on 18,886,596 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 $273.1 billion in assets as of September 30, 2013, offering individuals and institutions a broad array of investment strategies and wealth management solutions. The Company's long record of providing exemplary service and attractive returns through a variety of market conditions has made Eaton Vance the investment manager of choice for many of today's most discerning investors. For more information about Eaton Vance, visit www.eatonvance.com.
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EATON VANCE SHORT DURATION DIVERSIFIED INCOME FUND
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SUMMARY OF RESULTS OF OPERATIONS
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(in thousands, except per share amounts)
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Three Months Ended
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Nine Months Ended
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July 31,
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July 31,
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2013
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2012
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2013
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2012
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Gross investment income
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$ 4,758
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$ 5,209
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$ 16,271
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$ 16,425
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Operating expenses
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(1,313)
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(1,361)
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(4,792)
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(4,664)
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Net investment income
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$ 3,445
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$ 3,848
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$ 11,479
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$ 11,761
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Net realized and unrealized gains (losses)
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on investments
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$ (10,606)
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$ (780)
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$ (11,222)
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$ 2,950
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Net increase (decrease) in net assets
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from operations
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$ (7,161)
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$ 3,068
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$ 257
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$ 14,711
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Earnings per Share Outstanding
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Gross investment income
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$ 0.253
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$ 0.276
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$ 0.862
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$ 0.870
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Operating expenses
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(0.070)
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(0.072)
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(0.254)
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(0.247)
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Net investment income
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$ 0.183
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$ 0.204
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$ 0.608
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(1)
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$ 0.623
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(1)
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Net realized and unrealized gains (losses)
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on investments
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$ (0.562)
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$ (0.045)
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$ (0.594)
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$ 0.156
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Net increase (decrease) in net assets
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from operations
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$ (0.379)
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$ 0.159
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$ 0.014
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$ 0.779
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Net Asset Value at July 31
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Net assets
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$ 322,359
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$ 335,577
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Shares outstanding
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18,887
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18,887
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Net asset value per share outstanding
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$ 17.07
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$ 17.77
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Market Value Summary
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Market price on NYSE at July 31
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$ 15.62
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$ 17.27
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High market price (period ended July 31)
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$ 17.82
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$ 17.30
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Low market price (period ended July 31)
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$ 15.53
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$ 16.15
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(1)
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For federal income tax purposes, estimated net investment income per share for the nine months ended
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July 31, 2013 and July 31, 2012 were $0.59 and $0.65, respectively.
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SOURCE Eaton Vance Management