Overview

Historical Returns (%) as of Jun 30, 2023

08/31/202306/30/2023
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 Aug 31, 2023

Class I Inception 09/18/2023
Investment Objective Long-term capital appreciation
Total Net Assets $8.0M
Minimum Investment $1000000
Expense Ratio (Gross)3 2.65%
Expense Ratio (Net)3,4 0.89%
CUSIP 13161X774

Top 10 Holdings (%)5,6 as of Jun 30, 2023

Microsoft Corp 7.09
Alphabet Inc - CL A 4.25
Amazon.com Inc 3.92
Nestle SA 3.77
JPMorgan Chase & Co 3.45
Visa Inc 3.42
Coca-Cola Co 3.37
Mondelez International Inc 3.04
Danaher Corp 2.83
GXO Logistics Inc 2.62
Total 37.75
 

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 Jun 30, 2023

08/31/202306/30/2023
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 (%)

2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Fund at NAV — — — -0.48 20.85 -7.80 31.77 13.88 24.90 -18.70
MSCI World Index2 26.68 4.94 -0.87 7.51 22.40 -8.71 27.67 15.90 21.82 -18.14
 

Fund Facts

Expense Ratio (Gross)3 2.65%
Expense Ratio (Net)3,4 0.89%
Class I Inception 09/18/2023
Distribution Frequency Annually
 

NAV History

Date NAV NAV Change
Sep 27, 2023 $14.27 -$0.05
Sep 26, 2023 $14.32 -$0.19
Sep 25, 2023 $14.51 -$0.02
Sep 22, 2023 $14.53 -$0.05
Sep 21, 2023 $14.58 -$0.25
Sep 20, 2023 $14.83 -$0.08
Sep 19, 2023 $14.91 -$0.06
Sep 18, 2023 $14.97 -$0.01
Sep 15, 2023 $14.98
Sep 14, 2023

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 Jun 30, 2023

Portfolio Statistics as of Jun 30, 2023

Average Market Cap $438.7B
Price/Earnings Ratio 22.09
Number of Holdings 42
Price/Book Ratio 3.68
Countries Represented 13
Active Share7 84.34%
 

GICS Sector Breakdown (%)6 as of Jun 30, 2023

Assets by Country (%) as of Jun 30, 2023

United States 61.87
France 8.04
Switzerland 5.54
Japan 5.05
Spain 4.21
Hong Kong 2.22
India 2.15
Germany 1.99
Australia 1.87
Denmark 1.83
Total 100.00
View All
 

Geographic Mix (%)6 as of Jun 30, 2023

North America 61.87
Europe 24.07
Asia/Pacific 12.71
Cash & Other Assets 1.35
Total 100.00

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.

Management

Christopher M. Dyer, CFA

Christopher M. Dyer, CFA

Managing Director, Head of Global Equities
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 financial services industry in 1995. 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, 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

Full Prospectus

Download Full Prospectus - Last updated: Sep 18, 2023

SAI

Download SAI - Last updated: Sep 18, 2023

Summary Prospectus

Download Summary Prospectus - Last updated: Sep 18, 2023