Eaton Vance New York Municipal Bond Fund Announces Earnings Results for the Fourth Quarter and Full Year Ended September 30, 2012
December 04, 2012 at 01:35 am IST
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Eaton Vance New York Municipal Bond Fund announced earnings results for the fourth quarter and full year ended September 30, 2012. For the quarter, the company reported net investment income of $2,860,000 against $3,130,000 a year ago. Net realized and unrealized gains on investments were $7,871,000 against $9,412,000 a year ago. Net increase in net assets from operations was $10,731,000 against $12,542,000 a year ago. Net investment income per common share was $0.180 against $0.197 for the same period a year ago. Net realized and unrealized gains on investments per common share were $0.497 against $0.591 for the same period a year ago. Net increase in net assets from operations per common share was $0.677 against $0.788 a year ago. The net asset value per share outstanding on September 30, 2012 was $14.46 compared to $13.17 on September 30, 2011.
For the year, the company reported net investment income of $11,565,000 against $12,639,000 a year ago. Net realized and unrealized gains on investments were $20,753,000 against net realized and unrealized losses on investments of $6,473,000 a year ago. Net increase in net assets from operations was $32,318,000 against $6,166,000 a year ago. Net investment income per common share was $0.728 against $0.797 for the same period a year ago. Net realized and unrealized gains on investments per common share were $1.308 against net realized and unrealized losses on investments per common share of $0.412 for the same period a year ago. Net increase in net assets from operations per common share was $2.036 against $0.385 a year ago.
Eaton Vance New York Municipal Bond Fund is a non-diversified, closed-end management investment company. The Fundâs investment objective is to provide current income exempt from federal income tax. During normal market conditions, at least 80% of the Fundâs net assets may be invested in municipal obligations, the interest on which is exempt from federal income tax, including the alternative minimum tax (AMT). The Fund may invest up to 20% of its net assets in municipal obligations rated BBB/Baa or below (or unrated obligations deemed by the Fundâs adviser, Eaton Vance Management, provided that not more than 15% of its net assets may be invested in municipal obligations rated below B and may invest up to 20% of its net assets in bonds on which the interest is subject to the AMT. The Fund's investment portfolio includes various sectors, such as hospital, education, housing, bond bank, electric utilities and water and sewer. Eaton Vance Management is the investment advisor for the Fund.