Eaton Vance Management[see profile] has changed the Eaton Vance Tax-Managed Mid-Cap Core Fund to the Eaton Vance Atlanta Capital Horizon Growth Fund.
Also, the fund's investment strategy has changed from long-term, after-tax return to total return. The company said its management team believes that the fund's changes benefits its shareholders by broadening the fund's investable universe and its investor base.
The fund's PMs are still Richard England, William Hackney, Brian Mansfield and Glenn Shaw. It sports a net expense ratio of 140 basis points.
Eaton Vance Atlanta Capital Horizon Growth Fund
BOSTON, Aug. 11, 2011 /PRNewswire/ -- Eaton Vance Management, a subsidiary of Eaton Vance Corp. (NYSE: EV), announced today that, upon a vote of shareholders, Eaton Vance Tax-Managed Mid-Cap Core Fund (the Fund) has changed its name to Eaton Vance Atlanta Capital Horizon Growth Fund and its investment objective from long-term, after-tax return to total return. Management believes that the repositioning benefits Fund shareholders by broadening the Fund's investable universe and the range of investors to whom the Fund may appeal.
The Fund continues to be managed by a team of portfolio managers at Atlanta Capital Management LLC (Atlanta Capital), a majority-owned subsidiary of Eaton Vance that specializes in the management of high-quality investments. The Fund's portfolio managers are Richard England, William Hackney, Brian Mansfield and Glenn Shaw. The Fund employs Atlanta Capital's traditional approach to individual security selection, which is based on equity research using a growth discipline, and currently invests primarily in mid-cap growth stocks. The Fund seeks to invest in quality companies with a demonstrated history of sustainable earnings growth that management believes are attractively valued in relation to their growth potential. The Fund's primary performance benchmark is the Russell Mid-Cap Growth Index.
"We are building a portfolio of stocks focused on sustaining consistent earnings growth while maintaining a strong financial condition," said Mr. England, managing director and principal at Atlanta Capital. "Allocations among market sectors are determined using the Russell Mid-Cap Growth Index as a benchmark."
Atlanta Capital has provided investment management services to its clients since 1969. Over the firm's 40-year history, investment management has been the sole focus and portfolios have been managed through a singular high-quality investment philosophy. Eaton Vance acquired a majority interest in Atlanta Capital in 2001.
Eaton Vance is one of the oldest investment management firms in the United States, with a history dating to 1924. Eaton Vance and its affiliates managed $199.0 billion in assets as of July 31, 2011, 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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