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Eaton Vance Funds to Liquidate Amid Shareholder Proposal Withdrawal
ByAinvest
Monday, Aug 4, 2025 4:04 pm ET1min read
Eaton Vance California and New York Municipal Bond Funds announced plans to liquidate and terminate. The decision was made by the boards and the investment adviser, Eaton Vance Management. Shareholders will vote on the proposal at the 2025 Annual Meeting. Saba Capital Management, a large shareholder, has agreed to withdraw its proposals and vote in support of the liquidation. The liquidation is subject to shareholder approval.
Eaton Vance California Municipal Bond Fund (EVM) and Eaton Vance New York Municipal Bond Fund (ENX) have announced plans to liquidate and terminate, subject to shareholder approval. The decision was made by the boards of trustees and Eaton Vance Management, with the liquidation slated for the 2025 Annual Meeting on September 23, 2025.The Boards of Trustees and Eaton Vance Management determined that liquidation is in the best interests of the Funds and their shareholders. Saba Capital Management, a major shareholder, has agreed to withdraw its shareholder proposals and support the liquidation through standstill agreements [1].
Shareholders of record as of July 14, 2025, will receive proxy materials containing detailed information about the proposed liquidation. The liquidation is subject to shareholder approval.
References:
[1] https://www.stocktitan.net/news/EVM/eaton-vance-california-municipal-bond-fund-and-eaton-vance-new-york-frqb5x5z6k6y.html
[2] https://www.stocktitan.net/news/EVM/
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