Eaton Vance opens flagship floating rate fund to UK investors

Eaton Vance Management International has made its Floating Rate Income fund accessible to European investors for the first time.

The fund, domiciled in Ireland, aims to provide a high level of income by investing in a portfolio of senior floating-rate loans of US and non-US corporate borrowers. Charging a management fee of 0.5%, the portfolio's other expenses are capped at 0.15%. It is managed by Scott Page and Craig Russ, who are co-directors of Eaton Vance's $42.5bn floating rate team, and vice-president John Redding (pictured). Page said: "We invest in the US and European loan markets, with relative allocations based upon both risk/return considerations and the size of the opportunity sets. "The invest...