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Eaton Vance Enhanced Equity Income Fund Report Of Earnings

BOSTON, March 13, 2014 /PRNewswire/ -- Eaton Vance Enhanced Equity Income Fund (NYSE: EOI), a diversified closed-end management investment company, today announced the earnings of the Fund for the three months ended December 31, 2013. The Fund's fiscal year ends on September 30, 2014.

For the three months ended December 31, 2013, the Fund had net investment income of $956,080 ($0.024 per common share). In comparison, for the three months ended December 31, 2012, the Fund had net investment income of $2,078,520 ($0.052 per common share).

Net realized and unrealized gains for the three months ended December 31, 2013 were $52,103,662 ($1.330 per common share). In comparison, net realized and unrealized losses for the three months ended December 31, 2012 were $4,366,641 ($0.110 per common share).

On December 31, 2013, net assets of the Fund were $567,243,098. The net asset value per common share on December 31, 2013 was $14.48 based on 39,173,049 common shares outstanding. In comparison, on December 31, 2012, net assets of the Fund were $486,917,334. The net asset value per common share on December 31, 2012 was $12.35 based on 39,419,649 common 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 $278.6 billion in assets as of January 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 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 ENHANCED EQUITY INCOME FUND

SUMMARY OF RESULTS OF OPERATIONS

(in thousands, except per share amounts)
















Three Months Ended







December 31,







2013


2012

Gross investment income


$                       2,519


$                      3,498

Operating expenses


(1,563)


(1,419)


Net investment income (loss)


$                          956


$                      2,079

Net realized and unrealized gains (losses)





  on investments


$                    52,104


$                     (4,367)


Net increase (decrease) in net assets






  from operations


$                    53,060


$                     (2,288)










Earnings per Common Share Outstanding





Gross investment income


$                       0.064


$                      0.088

Operating expenses


(0.040)


(0.036)


Net investment income (loss)


$                       0.024


$                      0.052

Net realized and unrealized gains (losses)





  on investments


$                       1.330


$                     (0.110)


Net increase (decrease) in net assets






  from operations

$                       1.354


$                     (0.058)



















Net Asset Value at December 31 (Common Shares)






Net assets 


$                  567,243


$                  486,917


Shares outstanding 


39,173


39,420


Net asset value per share outstanding


$                       14.48


$                      12.35










Market Value Summary (Common Shares)






Market price on NYSE at December 31


$                       13.00


$                      10.66


High market price (period ended December 31)


$                       13.12


$                      11.28


Low market price (period ended December 31)


$                       11.93


$                      10.16

SOURCE Eaton Vance Management

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