Overview

Historical Returns (%) as of Mar 31, 2024

Past performance is no guarantee of future results. Investment return and principal value will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Performance is for the stated time period only; due to market volatility, the Fund’s current performance may be lower or higher than quoted. Returns are historical and are calculated by determining the percentage change in net asset value (NAV) with all distributions reinvested. Returns for other classes of shares offered by the Fund are different. Performance less than or equal to one year is cumulative. Prior to 09/15/2023, the Fund was called Eaton Vance Focused Global Opportunities Fund and employed a different principal investment strategy. Please see prospectus for more details.
 

Fund Facts as of Mar 31, 2024

Class I Inception 09/18/2023
Investment Objective Long-term capital appreciation
Total Net Assets $11.1M
Minimum Investment $1000000
Expense Ratio (Gross)3 2.20%
Expense Ratio (Net)3,4 0.90%
CUSIP 13161X774

Top 10 Holdings (%)5,6 as of Mar 31, 2024

Microsoft Corp 7.15
Amazon.com Inc 5.10
Alphabet Inc - CL A 4.90
Visa Inc 3.77
Nestle SA 3.60
Sanofi 3.18
Walt Disney Co 3.03
Compass Group PLC 2.94
Boston Scientific Corp 2.88
Siemens AG 2.77
Total 39.33
 

Portfolio Management

Christopher M. Dyer, CFA Managed Fund since inception
Ian Kirwan Managed Fund since inception

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding.

RISK CONSIDERATIONS 

The value of investments held by the Fund may increase or decrease in response to economic, and financial events (whether real, expected or perceived) in the U.S. and global markets. The value of equity securities is sensitive to stock market volatility. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical, currency exchange rates or other conditions. In emerging countries, these risks may be more significant. Changes in real estate values or economic downturns can have a significant negative effect on issuers in the real estate industry including REITs. Investing primarily in responsible investments carries the risk that, under certain market conditions, the Fund may underperform funds that do not utilize a responsible investment strategy. The Fund is exposed to liquidity risk when trading volume, lack of a market maker or trading partner, large position size, market conditions, or legal restrictions impair its ability to sell particular investments or to sell them at advantageous market prices. The impact of the coronavirus on global markets could last for an extended period and could adversely affect the Fund’s performance. No fund is a complete investment program and you may lose money investing in a fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.


1. Prior to 09/15/2023, the Fund was called Eaton Vance Focused Global Opportunities Fund and employed a different principal investment strategy. Please see prospectus for more details.
2. MSCI World Index is an unmanaged index of equity securities in the developed markets. Unless otherwise stated, index returns do not reflect the effect of any applicable sales charges, commissions, expenses, taxes or leverage, as applicable. It is not possible to invest directly in an index. Historical performance of the index illustrates market trends and does not represent the past or future performance of the fund. MSCI indexes are net of foreign withholding taxes. Source: MSCI. MSCI data may not be reproduced or used for any other purpose. MSCI provides no warranties, has not prepared or approved this report, and has no liability hereunder.
3. Source: Fund prospectus.
4. Net Expense Ratio reflects a contractual expense reimbursement that will remain in effect for a five year period from the closing date of the reorganization. Without the reimbursement, if applicable, performance would have been lower.
5. Top 10 Holdings excludes cash and equivalents.
6. Percent of total net assets.

Performance

Historical Returns (%) as of Mar 31, 2024

Past performance is no guarantee of future results. Investment return and principal value will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Performance is for the stated time period only; due to market volatility, the Fund’s current performance may be lower or higher than quoted. Returns are historical and are calculated by determining the percentage change in net asset value (NAV) with all distributions reinvested. Returns for other classes of shares offered by the Fund are different. Performance less than or equal to one year is cumulative. Prior to 09/15/2023, the Fund was called Eaton Vance Focused Global Opportunities Fund and employed a different principal investment strategy. Please see prospectus for more details.
 

Calendar Year Returns (%)

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Fund at NAV — — -0.48 20.85 -7.80 31.77 13.88 24.90 -18.70 22.40
MSCI World Index2 4.94 -0.87 7.51 22.40 -8.71 27.67 15.90 21.82 -18.14 23.79
 

Fund Facts

Class I Inception 09/18/2023
Expense Ratio (Gross)3 2.20%
Expense Ratio (Net)3,4 0.90%
Distribution Frequency
 

Morningstar Rating™ as of Mar 31, 2024

Time Period Rating Funds in
Global Large-Stock Growth
Category
Overall 322
3 Years 322
5 Years 279
10 Years 188
 

NAV History

Date NAV NAV Change
Apr 26, 2024 $16.60 $0.20
Apr 25, 2024 $16.40 -$0.05
Apr 24, 2024 $16.45 $0.02
Apr 23, 2024 $16.43 $0.24
Apr 22, 2024 $16.19 $0.16
Apr 19, 2024 $16.03 -$0.09
Apr 18, 2024 $16.12 -$0.07
Apr 17, 2024 $16.19 -$0.03
Apr 16, 2024 $16.22 -$0.03
Apr 15, 2024 $16.25 -$0.13

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding.

RISK CONSIDERATIONS 

The value of investments held by the Fund may increase or decrease in response to economic, and financial events (whether real, expected or perceived) in the U.S. and global markets. The value of equity securities is sensitive to stock market volatility. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical, currency exchange rates or other conditions. In emerging countries, these risks may be more significant. Changes in real estate values or economic downturns can have a significant negative effect on issuers in the real estate industry including REITs. Investing primarily in responsible investments carries the risk that, under certain market conditions, the Fund may underperform funds that do not utilize a responsible investment strategy. The Fund is exposed to liquidity risk when trading volume, lack of a market maker or trading partner, large position size, market conditions, or legal restrictions impair its ability to sell particular investments or to sell them at advantageous market prices. The impact of the coronavirus on global markets could last for an extended period and could adversely affect the Fund’s performance. No fund is a complete investment program and you may lose money investing in a fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.


2. MSCI World Index is an unmanaged index of equity securities in the developed markets. Unless otherwise stated, index returns do not reflect the effect of any applicable sales charges, commissions, expenses, taxes or leverage, as applicable. It is not possible to invest directly in an index. Historical performance of the index illustrates market trends and does not represent the past or future performance of the fund. MSCI indexes are net of foreign withholding taxes. Source: MSCI. MSCI data may not be reproduced or used for any other purpose. MSCI provides no warranties, has not prepared or approved this report, and has no liability hereunder.
3. Source: Fund prospectus.
4. Net Expense Ratio reflects a contractual expense reimbursement that will remain in effect for a five year period from the closing date of the reorganization. Without the reimbursement, if applicable, performance would have been lower.

Portfolio

Asset Mix (%)6 as of Mar 31, 2024

Portfolio Statistics as of Mar 31, 2024

Average Market Cap $564.2B
Price/Earnings Ratio 23.63
Number of Holdings 39
Price/Book Ratio 4.60
Countries Represented 14
Active Share7 84.81%
 

GICS Sector Breakdown (%)6 as of Mar 31, 2024

Assets by Country (%) as of Mar 31, 2024

United States 51.03
France 8.95
United Kingdom 7.63
Netherlands 4.89
Japan 4.18
Switzerland 3.60
Germany 2.77
Belgium 2.40
Denmark 2.37
Cash & Other Assets 2.93
Total 100.00
View All
 

Geographic Mix (%)6 as of Mar 31, 2024

North America 51.03
Europe 32.61
Asia/Pacific 13.43
Cash & Other Assets 2.93
Total 100.00
 

Fund Holdings (%)6,8 as of Feb 29, 2024

Holding % of Net Assets
Microsoft Corp 7.23%
Amazon.com Inc 5.14%
Alphabet Inc - CL A 4.62%
Visa Inc 3.93%
Nestle SA 3.62%
Sanofi 3.21%
Danaher Corp 2.88%
Boston Scientific Corp 2.86%
Walt Disney Co 2.84%
Compass Group PLC 2.83%
View All

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding.

RISK CONSIDERATIONS 

The value of investments held by the Fund may increase or decrease in response to economic, and financial events (whether real, expected or perceived) in the U.S. and global markets. The value of equity securities is sensitive to stock market volatility. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical, currency exchange rates or other conditions. In emerging countries, these risks may be more significant. Changes in real estate values or economic downturns can have a significant negative effect on issuers in the real estate industry including REITs. Investing primarily in responsible investments carries the risk that, under certain market conditions, the Fund may underperform funds that do not utilize a responsible investment strategy. The Fund is exposed to liquidity risk when trading volume, lack of a market maker or trading partner, large position size, market conditions, or legal restrictions impair its ability to sell particular investments or to sell them at advantageous market prices. The impact of the coronavirus on global markets could last for an extended period and could adversely affect the Fund’s performance. No fund is a complete investment program and you may lose money investing in a fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.


2. MSCI World Index is an unmanaged index of equity securities in the developed markets. Unless otherwise stated, index returns do not reflect the effect of any applicable sales charges, commissions, expenses, taxes or leverage, as applicable. It is not possible to invest directly in an index. Historical performance of the index illustrates market trends and does not represent the past or future performance of the fund. MSCI indexes are net of foreign withholding taxes. Source: MSCI. MSCI data may not be reproduced or used for any other purpose. MSCI provides no warranties, has not prepared or approved this report, and has no liability hereunder.
6. Percent of total net assets.
7. Active Share is a measure of the differentiation of the holdings of a portfolio from the holdings of its appropriate benchmark index. It is calculated as one half of the sum of the absolute value of the differences found between the portfolio weights and the benchmark weights.
8. The following list reflects unaudited securities holdings (excluding derivatives positions). Holdings information may differ if presented as of trade date. Due to rounding, holdings of less than 0.005% may show as 0.00%. Portfolio information subject to change due to active management.

Management

Christopher M. Dyer, CFA

Christopher M. Dyer, CFA

Managing Director, Co-Head of Eaton Vance Equity
Joined Eaton Vance 2015

Biography

Chris is a managing director of Morgan Stanley. He is co-head of Eaton Vance Equity. In addition, Chris is co-head of the Eaton Vance Equity Global team and a portfolio manager for Eaton Vance and Calvert global and international equity portfolios. Chris serves on the Morgan Stanley Investment Management Operating Committee. He joined Eaton Vance in 2015. Morgan Stanley acquired Eaton Vance in March 2021.

Chris began his career in the asset management industry in 2001. Before joining Eaton Vance, he was managing director and head of European equity for Goldman Sachs Asset Management (GSAM), where he was affiliated since 2001.

Chris earned a B.S., cum laude, from Georgetown University and an MBA from The Wharton School, University of Pennsylvania. He is a CFA charterholder.

Education
  • B.S. Georgetown University
  • M.B.A. The Wharton School, University of Pennsylvania

Experience
  • Managed Fund since inception

 

Ian Kirwan

Managing Director, Co-Head of Eaton Vance Equity Global Team, Portfolio Manager, Analyst
Joined Eaton Vance 2015

Biography

Ian is a managing director of Morgan Stanley. He is co-head of the Eaton Vance Equity Global team and a portfolio manager and an analyst. He is responsible for coverage of industrials, automotive, and metals and mining for global portfolios. He joined Eaton Vance in 2015. Morgan Stanley acquired Eaton Vance in March 2021.

Ian began his career in the investment management industry in 1997. Before joining Eaton Vance, he was previously affiliated with the Qatar Investment Authority, Lazard Asset Management, AllianceBernstein and Schroder Investment Management.

Ian graduated from Wesley College in Dublin and earned a B.A. in economics from Trinity College in Dublin.

Education
  • B.A. Trinity College, Dublin

Experience
  • Managed Fund since inception

 

Literature

Literature

Fact Sheet

Download Fact Sheet - Last updated: Mar 31, 2024

Annual Report

Download Annual Report - Last updated: Sep 30, 2023

Full Prospectus

Download Full Prospectus - Last updated: Feb 1, 2024

Q1 Holdings

Download Q1 Holdings - Last updated: Dec 31, 2023

Q3 Holdings

Download Q3 Holdings - Last updated: Aug 31, 2023

SAI

Download SAI - Last updated: Feb 1, 2024

Semi-Annual Report

Download Semi-Annual Report - Last updated: May 31, 2023

Summary Prospectus

Download Summary Prospectus - Last updated: Feb 1, 2024