During the corresponding time, Eaton Vance Corp recorded a revenue increase by 4 % year on year, sequentially revenue grew by 7.19 %. While revenue at the Eaton Vance Corp's corporate clients
Eaton Vance's Comment on Sales, Marketing and Customers
We market and distribute shares of Eaton Vance and Parametric funds domestically
through EVD. EVD sells fund shares through a network of financial intermediaries,
including national and regional broker-dealers, banks, registered investment advisors,
insurance companies and financial planning firms. The Eaton Vance International
(Ireland) Funds Plc. are Undertakings for Collective Investments in Transferable
Securities (“UCITS”) funds domiciled in Ireland and sold by EVMI through
certain intermediaries, and in some cases directly, to investors who are citizens
of the United Kingdom, member nations of the European Union and other countries
outside the United States. The Eaton Vance International (Cayman Islands) Funds
are Cayman Island-domiciled funds sold by EVMI and EVD through intermediaries
to non-U.S. investors.
Although the firms in our domestic retail distribution network have each entered
into selling agreements with EVD, these agreements (which generally are terminable
by either party) do not legally obligate the firms to sell any specific amount
of our investment products. EVD currently maintains a sales force of approximately
130 external and internal wholesalers who work closely with financial advisors
in the retail distribution network to assist in placing Eaton Vance and Parametric
funds.
Certain sponsored mutual funds have adopted distribution plans as permitted by
the 1940 Act that provide for the fund to pay EVD distribution fees for the sale
and distribution of shares and service fees for personal and/or shareholder account
services (so-called “12b-1 fees”). Each distribution plan and distribution
agreement with EVD for the Registered Funds is initially approved and its subsequent
continuance must be approved annually by the board of trustees of the respective
funds, including a majority of the independent trustees.
EVD makes payments to financial intermediaries that provide marketing support,
transaction processing and/or administrative services to the Eaton Vance and Parametric
mutual funds and, in some cases, include some or all of our funds in preferred
or specialized selling programs. Payments are typically based on fund net assets,
sales, transactions processed and/or accounts attributable to that financial intermediary.
Financial intermediaries also may receive payments from EVD in connection with
educational or due diligence meetings that include information concerning our
funds.
EVD currently sells Eaton Vance and Parametric mutual funds under five primary
pricing structures: front-end load commission (“Class A”); level-load
commission (“Class C”); institutional no-load (“Class I,”
“Class R6” and “Institutional Class,” referred to herein
as “Class I”); retail no-load (“Investor Class” and “Advisers
Class,” referred to herein as “Class N”); and retirement plan
level-load (“Class R”).
For Class A shares, the shareholder may be required to pay a sales charge to the
selling broker-dealer of up to five percent and an underwriting commission to
EVD of up to 75 basis points of the dollar value of the shares sold. Under certain
conditions, we waive the sales load on Class A shares and the shares are sold
at net asset value. EVD generally receives (and then pays to authorized firms
after one year) combined distribution and service fees of up to 30 basis points
of average net assets annually on Class A shares. In recent years, a growing percentage
of the Company’s sales of Class A shares have been made on a load-waived
basis through various fee-based programs. EVD does not receive underwriting commissions
on such sales.
For Class C shares, the shareholder pays no front-end commissions but may be subject
to a contingent deferred sales charge on redemptions made within the first twelve
months of purchase. EVD pays a commission and the projected first year’s
service fees to the dealer at the time of sale. The fund makes monthly distribution
plan and service fee payments to EVD at an annual rate of up to 75 basis points
and 25 basis points, respectively, of average net assets of the Class. EVD retains
the distribution and service fees paid to EVD for the first twelve months and
pays the distribution and service fees to the dealer after one year.
Class I shares are offered at net asset value and are not subject to any sales
charges, underwriter commissions, distribution fees or service fees. For designated
Class I shares, a minimum investment of $250,000 or higher is normally required.
Designated Institutional Class shares are normally subject to a minimum investment
of $50,000. Sales of R6 shares are limited to participating retirement plans and
certain other investors.
Class N shares are offered at net asset value and are not subject to any sales
charges or underwriter commissions. EVD receives (and then pays to authorized
firms after one year) combined distribution and service fees of 25 basis points
of average net assets annually.
Class R shares are offered at net asset value with no front-end sales charge.
The Company receives, and then generally pays to dealers, distribution fees of
25 basis points and service fees of 25 basis points of average net assets of the
Class annually.
We also sponsor unregistered equity funds that are privately placed by EVD, as
placement agent, and by various sub-agents to whom EVD and the subscribing shareholders
make sales commission payments. The privately placed equity funds are managed
by Eaton Vance Management and BMR.
The marketing and distribution of investment strategies to institutional and high-net-worth
clients is subsidiary-specific. Eaton Vance Management has institutional sales,
consultant relations and client service teams dedicated to supporting the U.S.
marketing and sales of strategies managed by Eaton Vance Management and Hexavest.
Hexavest maintains its own marketing and distribution team to service institutional
clients in Canada. Parametric and Atlanta Capital each maintain subsidiary-specific
marketing and distribution teams to sell their respective investment strategies
to U.S.-based institutions and high-net-worth investors. Parametric also maintains
a dedicated institutional marketing and distribution team focused on the Australian
and New Zealand markets. EVMI, based in London, is otherwise responsible for the
institutional marketing and distribution of all Eaton Vance Management, Parametric,
Atlanta Capital and Hexavest-advised strategies to institutions outside North
America.
Eaton Vance’s Comment on Sales, Marketing and Customers
We market and distribute shares of Eaton Vance and Parametric funds domestically
through EVD. EVD sells fund shares through a network of financial intermediaries,
including national and regional broker-dealers, banks, registered investment advisors,
insurance companies and financial planning firms. The Eaton Vance International
(Ireland) Funds Plc. are Undertakings for Collective Investments in Transferable
Securities (“UCITS”) funds domiciled in Ireland and sold by EVMI through
certain intermediaries, and in some cases directly, to investors who are citizens
of the United Kingdom, member nations of the European Union and other countries
outside the United States. The Eaton Vance International (Cayman Islands) Funds
are Cayman Island-domiciled funds sold by EVMI and EVD through intermediaries
to non-U.S. investors.
Although the firms in our domestic retail distribution network have each entered
into selling agreements with EVD, these agreements (which generally are terminable
by either party) do not legally obligate the firms to sell any specific amount
of our investment products. EVD currently maintains a sales force of approximately
130 external and internal wholesalers who work closely with financial advisors
in the retail distribution network to assist in placing Eaton Vance and Parametric
funds.
Certain sponsored mutual funds have adopted distribution plans as permitted by
the 1940 Act that provide for the fund to pay EVD distribution fees for the sale
and distribution of shares and service fees for personal and/or shareholder account
services (so-called “12b-1 fees”). Each distribution plan and distribution
agreement with EVD for the Registered Funds is initially approved and its subsequent
continuance must be approved annually by the board of trustees of the respective
funds, including a majority of the independent trustees.
EVD makes payments to financial intermediaries that provide marketing support,
transaction processing and/or administrative services to the Eaton Vance and Parametric
mutual funds and, in some cases, include some or all of our funds in preferred
or specialized selling programs. Payments are typically based on fund net assets,
sales, transactions processed and/or accounts attributable to that financial intermediary.
Financial intermediaries also may receive payments from EVD in connection with
educational or due diligence meetings that include information concerning our
funds.
EVD currently sells Eaton Vance and Parametric mutual funds under five primary
pricing structures: front-end load commission (“Class A”); level-load
commission (“Class C”); institutional no-load (“Class I,”
“Class R6” and “Institutional Class,” referred to herein
as “Class I”); retail no-load (“Investor Class” and “Advisers
Class,” referred to herein as “Class N”); and retirement plan
level-load (“Class R”).
For Class A shares, the shareholder may be required to pay a sales charge to the
selling broker-dealer of up to five percent and an underwriting commission to
EVD of up to 75 basis points of the dollar value of the shares sold. Under certain
conditions, we waive the sales load on Class A shares and the shares are sold
at net asset value. EVD generally receives (and then pays to authorized firms
after one year) combined distribution and service fees of up to 30 basis points
of average net assets annually on Class A shares. In recent years, a growing percentage
of the Company’s sales of Class A shares have been made on a load-waived
basis through various fee-based programs. EVD does not receive underwriting commissions
on such sales.
For Class C shares, the shareholder pays no front-end commissions but may be subject
to a contingent deferred sales charge on redemptions made within the first twelve
months of purchase. EVD pays a commission and the projected first year’s
service fees to the dealer at the time of sale. The fund makes monthly distribution
plan and service fee payments to EVD at an annual rate of up to 75 basis points
and 25 basis points, respectively, of average net assets of the Class. EVD retains
the distribution and service fees paid to EVD for the first twelve months and
pays the distribution and service fees to the dealer after one year.
Class I shares are offered at net asset value and are not subject to any sales
charges, underwriter commissions, distribution fees or service fees. For designated
Class I shares, a minimum investment of $250,000 or higher is normally required.
Designated Institutional Class shares are normally subject to a minimum investment
of $50,000. Sales of R6 shares are limited to participating retirement plans and
certain other investors.
Class N shares are offered at net asset value and are not subject to any sales
charges or underwriter commissions. EVD receives (and then pays to authorized
firms after one year) combined distribution and service fees of 25 basis points
of average net assets annually.
Class R shares are offered at net asset value with no front-end sales charge.
The Company receives, and then generally pays to dealers, distribution fees of
25 basis points and service fees of 25 basis points of average net assets of the
Class annually.
We also sponsor unregistered equity funds that are privately placed by EVD, as
placement agent, and by various sub-agents to whom EVD and the subscribing shareholders
make sales commission payments. The privately placed equity funds are managed
by Eaton Vance Management and BMR.
The marketing and distribution of investment strategies to institutional and high-net-worth
clients is subsidiary-specific. Eaton Vance Management has institutional sales,
consultant relations and client service teams dedicated to supporting the U.S.
marketing and sales of strategies managed by Eaton Vance Management and Hexavest.
Hexavest maintains its own marketing and distribution team to service institutional
clients in Canada. Parametric and Atlanta Capital each maintain subsidiary-specific
marketing and distribution teams to sell their respective investment strategies
to U.S.-based institutions and high-net-worth investors. Parametric also maintains
a dedicated institutional marketing and distribution team focused on the Australian
and New Zealand markets. EVMI, based in London, is otherwise responsible for the
institutional marketing and distribution of all Eaton Vance Management, Parametric,
Atlanta Capital and Hexavest-advised strategies to institutions outside North
America.
Sources:
Eaton Vance Corp’s official press releases and regulatory filings; CSIMarket.com’s market research; and the financial filings and press releases of other companies cited in this report.
Updated on:
Focus of this report: Eaton Vance Corp’s corporate clients.
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