Eaton Vance Corp. (EV, Financial) filed Annual Report for the period ended 2010-10-31.
Eaton Vance Corp. has a market cap of $3.71 billion; its shares were traded at around $31.48 with a P/E ratio of 22.3 and P/S ratio of 3.3. The dividend yield of Eaton Vance Corp. stocks is 2.3%. Eaton Vance Corp. had an annual average earning growth of 5.6% over the past 10 years. GuruFocus rated Eaton Vance Corp. the business predictability rank of 4-star.EV is in the portfolios of Ron Baron of Baron Funds, Columbia Wanger of Columbia Wanger Asset Management, Chuck Royce of Royce& Associates, Kenneth Fisher of Fisher Asset Management, LLC, Jeremy Grantham of GMO LLC, Murray Stahl of Horizon Asset Management, Mario Gabelli of GAMCO Investors, Steven Cohen of SAC Capital Advisors.
In response to the failures experienced in the APS auction market, we sought and obtained no-action relief from the SEC to permit our closed-end funds to issue a new type of floating-rate preferred stock called Liquidity Protected Preferred shares (LPP shares). Like APS, LPP shares are designed to be used by closed-end funds as a source of financial leverage. LPP shares differ from APS in that they are supported by the unconditional purchase obligation of a designated liquidity provider and are designed for purchase by money market funds. While we have yet to offer LPP shares, we are hopeful that, as market conditions improve, LPP shares can provide a cost-effective alternative form of leverage that, together with other solutions, our funds can use to redeem the balance of their outstanding APS. As of October 31, 2010, our closed-end funds had $1.1 billion of outstanding APS compared to $5.0 billion of outstanding APS when the crisis broke, a reduction of 78 percent.
Private Funds The private fund category includes privately offered equity funds designed to meet the diversification and tax-management needs of qualifying high-net-worth investors and equity, floating-rate bank loan and fixed income funds offered to institutional investors. We are recognized as a market leader in the types of privately offered equity funds in which we specialize, with $10.9 billion in assets under management as of October 31, 2010. Assets under management in institutional equity, bank loan and fixed income funds, which include cash instrument collateralized debt obligation (CDO) entities, collective trusts and leveraged and unleveraged loan funds, totaled $6.6 billion as of October 31, 2010, including $2.4 billion of assets in CDO entities.
High-net-worth separate account assets totaled $11.9 billion at October 31, 2010, $3.9 billion of which are managed by EVIC and $8.0 billion of which are managed by Parametric Portfolio Associates and Parametric Risk Advisors.
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Eaton Vance Corp. has a market cap of $3.71 billion; its shares were traded at around $31.48 with a P/E ratio of 22.3 and P/S ratio of 3.3. The dividend yield of Eaton Vance Corp. stocks is 2.3%. Eaton Vance Corp. had an annual average earning growth of 5.6% over the past 10 years. GuruFocus rated Eaton Vance Corp. the business predictability rank of 4-star.EV is in the portfolios of Ron Baron of Baron Funds, Columbia Wanger of Columbia Wanger Asset Management, Chuck Royce of Royce& Associates, Kenneth Fisher of Fisher Asset Management, LLC, Jeremy Grantham of GMO LLC, Murray Stahl of Horizon Asset Management, Mario Gabelli of GAMCO Investors, Steven Cohen of SAC Capital Advisors.
Highlight of Business Operations:
Aggregate market value of Non-Voting Common Stock held by non-affiliates of the Registrant, based on the closing price of $35.24 on April 30, 2010 on the New York Stock Exchange was $4,073,320,052. Calculation of holdings by non-affiliates is based upon the assumption, for these purposes only, that executive officers, directors, and persons holding 5 percent or more of the registrants Non-Voting Common Stock are affiliates.In response to the failures experienced in the APS auction market, we sought and obtained no-action relief from the SEC to permit our closed-end funds to issue a new type of floating-rate preferred stock called Liquidity Protected Preferred shares (LPP shares). Like APS, LPP shares are designed to be used by closed-end funds as a source of financial leverage. LPP shares differ from APS in that they are supported by the unconditional purchase obligation of a designated liquidity provider and are designed for purchase by money market funds. While we have yet to offer LPP shares, we are hopeful that, as market conditions improve, LPP shares can provide a cost-effective alternative form of leverage that, together with other solutions, our funds can use to redeem the balance of their outstanding APS. As of October 31, 2010, our closed-end funds had $1.1 billion of outstanding APS compared to $5.0 billion of outstanding APS when the crisis broke, a reduction of 78 percent.
Private Funds The private fund category includes privately offered equity funds designed to meet the diversification and tax-management needs of qualifying high-net-worth investors and equity, floating-rate bank loan and fixed income funds offered to institutional investors. We are recognized as a market leader in the types of privately offered equity funds in which we specialize, with $10.9 billion in assets under management as of October 31, 2010. Assets under management in institutional equity, bank loan and fixed income funds, which include cash instrument collateralized debt obligation (CDO) entities, collective trusts and leveraged and unleveraged loan funds, totaled $6.6 billion as of October 31, 2010, including $2.4 billion of assets in CDO entities.
High-net-worth separate account assets totaled $11.9 billion at October 31, 2010, $3.9 billion of which are managed by EVIC and $8.0 billion of which are managed by Parametric Portfolio Associates and Parametric Risk Advisors.
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