BOSTON , March 24, 2021 /PRNewswire/ -- At a special meeting of shareholders held on March 19, 2021 (the "Special Meeting"), shareholders of Eaton Vance Floating-Rate Income Plus Fund (NYSE: EFF) (the "Fund") were asked to approve a new investment advisory agreement for the Fund with Eaton Vance Management ("EVM"), the Fund's investment adviser. A quorum was not present at the Special Meeting.
As announced on March 11, 2021 , the Fund's Board of Trustees (the "Board"), after considering various options for the Fund, determined to approve a plan of liquidation and termination of the Fund. The liquidation and termination pursuant to the plan will be submitted to Fund shareholders for approval at the Fund's annual meeting of shareholders (the "Annual Meeting"), which is scheduled to be held on May 14 , 2021. In light of this announcement, the Special Meeting was not further adjourned and has concluded.
EVM was formerly a wholly owned subsidiary of Eaton Vance Corp., which was acquired by Morgan Stanley (NYSE: MS) on March 1, 2021 (the "Transaction"). EVM is now part of Morgan Stanley Investment Management, the asset management division of Morgan Stanley. EVM continues to manage the Fund under an interim investment advisory agreement (the "Interim Agreement") that was approved by the Board. The Interim Agreement took effect upon the closing of the Transaction and may continue for a term of up to 150 days.
In connection with the Annual Meeting, the Fund intends to file a definitive proxy statement with the U.S. Securities and Exchange Commission ("SEC"). Shareholders are advised to read the Annual Meeting proxy statement when it is available, because it will contain important information. When filed with the SEC, the proxy statement and other documents filed by the Fund will be available free of charge on the SEC website, www.sec.gov . Copies of the Annual Meeting proxy statement will also be mailed to each Fund shareholder of record as of the Annual Meeting record date, which is March 1, 2021 .
About the Fund
Shares of closed-end funds often trade at a discount from their net asset value. The market price of Fund shares may vary from net asset value based on factors affecting the supply and demand for shares, such as the Fund's distribution rates relative to similar investments, investors' expectations for future distribution changes, the clarity of the Fund's investment strategy and future return expectations, and investors' confidence in the underlying markets in which the Fund invests. Fund shares are subject to investment risk, including possible loss of principal invested. The Fund is not a complete investment program and you may lose money investing therein. An investment in the Fund may not be appropriate for all investors. Shares of the Fund are not FDIC-insured and are not deposits or other obligations of, or guaranteed by, any bank. Before investing, prospective investors should consider carefully the Fund's investment objective, strategies, risks, charges and expenses.
This press release is for informational purposes only and is not intended to, and does not, constitute an offer to purchase or sell shares of the Fund. Additional information about the Fund, including performance and portfolio characteristic information, is available at eatonvance.com.
Statements in this press release that are not historical facts may be forward-looking statements, as defined by the U.S. securities laws. You should exercise caution in interpreting and relying on forward-looking statements because they are subject to uncertainties and other factors that may be beyond the Fund's control and could cause actual results to differ materially from those set forth in the forward-looking statements.
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SOURCE Eaton Vance Management