Eaton Vance plans Diversified Emerging Markets Local Income fund

By Melissa Kory

Cleveland, Dec. 7 - Eaton Vance Corp. is planning a new closed-end management investment fund, the Eaton Vance Diversified Emerging Markets Local Income fund, according to a filing with the Securities and Exchange Commission.

The fund's primary investment objective is to provide current income. It will invest in securities, derivatives and other instruments to establish long investment exposures to emerging markets. At least 80% of net assets will be invested in local currency income securities of emerging market issuers and derivative instruments.

The fund's investment adviser is Eaton Vance Management.

The fund intends to apply for listing of its common shares on the New York Stock Exchange.

Eaton Vance is an investment management firm based in Boston.

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