Eaton Vance International Multi-Market changes name, benchmark index

By Toni Weeks

San Diego, Oct. 24 - Eaton Vance International Multi-Market Local Income Fund has changed its name to Eaton Vance Diversified Currency Income Fund, according to a 497 filing with the Securities and Exchange Commission.

The fund also made the following changes to its investment strategies:

• The fund will now invest at least 80% of net assets in (i) securities denominated in foreign currencies, (ii) fixed-income instruments issued by foreign entities or sovereign nations, (iii) derivative instruments denominated in or based on the currencies, interest rates or issues of foreign entities or sovereign nations and/or (iv) precious metals and commodities-related instruments. Formerly, the fund was required to invest primarily in these funds, with no specific percentage given; and

• The fund's primary benchmark has changed to the Barclays Capital Global Ex-USD Benchmark Currency (Trade-weighted) index. Formerly, the benchmark was the JP Morgan Government Bond Index - Global Ex-U.S. 1-3 year. The average annual total return as of Dec. 31, 2010 for the Barclays index was 0.77%, with a 2.05% return over the life of the fund.

The fund's adviser is Eaton Vance Management. The investment adviser to the portfolio is Boston Management and Research.

Eaton Vance provides investment solutions to individuals and institutions and is based in Boston.

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