Eaton Vance Launches New UCITS-Compliant Global Defensive Equity Fund

Jun 7 2017 | 11:03pm ET

Global asset management giant Eaton Vance has debuted a new UCITS-compliant defensive equity fund expressly designed to deliver absolute and risk-adjusted returns during periods of market stress.

The new fund, named the Eaton Vance International (Ireland) Parametric Global Defensive Equity Fund, is overseen by Eaton’s Parametric Portfolio Associates affiliate. It will invest into defensive equities as well as capturing volatility risk premium by selling equity index options and capitalizing on the tendency of implied volatility to exceed subsequent realized volatility, according to an article in Citywire. 

The fund will be managed by Parametric CIO Jack Hansen along with Thomas Lee and  Alex Zweber, the article added. “Given ongoing uncertainty in the global markets, we are pleased to offer clients a strategy that follows a disciplined and systematic process which is structured to deliver results in down and sideways markets,” Hansen said. 

Part of Eaton Vance’s Dublin-domiciled Eaton Vance International (Ireland) family, the new fund is passported for sale in Ireland, the UK, Germany, the Netherlands, Sweden and Finland, and is pending in Switzerland and Italy.

Eaton Vance, which was founded in 1924 and manages more than $380 billion in assets across a wide array of institutional and retail products, bought 80% of Seattle-based Parametric in 2003. Parametric focuses on engineered portfolio solutions, including rules-based alpha-seeking equity, and alternative strategies, as well as implementation services including custom core equity, futures overlay and centralized portfolio management. It managed approximately $198 billion as of March 31, 2017. 

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