EATON VANCE TAX-MANAGED BUY-WRITE INCOME FUND BOSTON, Jan. 14, 2015 /PRNewswire/ -- Eaton Vance Tax-Managed Buy-Write Income Fund (NYSE: ETB), a closed-end management investment company, today announced the earnings of the Fund for the three and nine months ended September 30, 2014. The Fund's fiscal year ended on December 31, 2014.
For the three months ended September 30, 2014, the Fund had net investment income of $1,037,743 ($0.042 per share). For the nine months ended September 30, 2014, the Fund had net investment income of $3,098,384 ($0.126 per share). In comparison, for the three months ended September 30, 2013, the Fund had net investment income of $1,102,745 ($0.045 per share). For the nine months ended September 30, 2013, the Fund had net investment income of $3,320,797 ($0.135 per share).
Net realized and unrealized gains for the three months ended September 30, 2014 were $3,297,103 ($0.134 per share). Net realized and unrealized gains for the nine months ended September 30, 2014 were $22,701,347 ($0.921 per share). In comparison, net realized and unrealized gains for the three months ended September 30, 2013 were $9,034,783 ($0.368 per share). Net realized and unrealized gains for the nine months ended September 30, 2013 were $37,869,460 ($1.536 per share).
On September 30, 2014, net assets of the Fund were $402,468,860. The net asset value per share on September 30, 2014 was $16.32 based on 24,654,545 shares outstanding. In comparison, on September 30, 2013, net assets of the Fund were $384,510,126. The net asset value per share on September 30, 2013 was $15.60 based on 24,654,545 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 $296.0 billion in assets as of December 31, 2014, offering individuals and institutions a broad array of investment strategies and wealth management solutions. The Company's long record of providing exemplary service, timely innovation 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.
EATON VANCE TAX-MANAGED BUY-WRITE INCOME FUND
SUMMARY OF RESULTS OF OPERATIONS
(in thousands, except per share amounts)
Three Months Ended Nine Months Ended
September 30, September 30,
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2014 2013 2014 2013
---- ---- ---- ----
Gross investment income $2,197 $2,226 $6,495 $6,627
Operating expenses (1,159) (1,123) (3,397) (3,306)
------ ------ ------ ------
Net investment income $1,038 $1,103 $3,098 $3,321
Net realized and unrealized gains (losses)
on investments $3,297 $9,035 $22,701 $37,870
------ ------ ------- -------
Net increase (decrease) in net
assets
from operations $4,335 $10,138 $25,799 $41,191
Earnings per Share Outstanding
------------------------------
Gross investment income $0.090 $0.090 $0.264 $0.269
Operating expenses (0.048) (0.045) (0.138) (0.134)
------ ------ ------ ------
Net investment income $0.042 $0.045 $0.126 $0.135
Net realized and unrealized gains (losses)
on investments $0.134 $0.368 $0.921 $1.536
------ ------ ------ ------
Net increase (decrease) in net
assets
from operations $0.176 $0.413 $1.047 $1.671
Net Asset Value at September 30
-------------------------------
Net assets $402,469 $384,510
Shares outstanding 24,655 24,655
Net asset value per share
outstanding $16.32 $15.60
Market Value Summary
--------------------
Market price on NYSE at September 30 $15.63 $14.38
High market price (period ended September 30) $16.41 $15.58
Low market price (period ended September
30) $14.77 $14.06
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SOURCE Eaton Vance Management
