BOSTON, April 8, 2020 /PRNewswire/ -- The Board of
Trustees of Eaton Vance High Income 2021 Target Term Trust (NYSE:
EHT) (the Trust) has approved a change to the Trust's investment
policies effective immediately. The Trust's investment objectives
are high current income and to return $9.85 per share (the original net asset value per
common share of beneficial interest (Common Share) before deducting
offering costs of $0.02 per Common
Share (Original NAV) to Common Shareholders on or about
July 1, 2021. The objective to
return the Trust's Original NAV is not an express or implied
guarantee obligation of the Trust or any other entity.
The Trust seeks to achieve its investment objectives by
investing, under normal circumstances, at least 80% of its managed
assets in corporate debt obligations and separately, at least 80%
of its managed assets in corporate debt obligations that, at the
time of investment, are rated below investment grade (BB+ or lower)
or are unrated but deemed equivalent by the adviser (High Yield
Obligations), commonly referred to as "junk bonds." Pursuant
to its revised policies, the current separate requirement to invest
80% of its managed assets in High Yield Obligations is eliminated
and the Trust will invest, under normal circumstances, at least 80%
of its managed assets in corporate debt obligations, including High
Yield Obligations.
The Trust's investment adviser is Eaton Vance Management, a
subsidiary of Eaton Vance Corp. Eaton Vance Corp. (NYSE: EV)
provides advanced investment strategies and wealth solutions to
forward-thinking investors around the world. Through principal
investment affiliates Eaton Vance Management, Parametric, Atlanta
Capital, Hexavest and Calvert, the Company offers a diversity of
investment approaches, encompassing bottom-up and top-down
fundamental active management, responsible investing, systematic
investing and customized implementation of client-specified
portfolio exposures. As of January 31,
2020, Eaton Vance had consolidated assets under management
of $518.2 billion. For more
information, visit eatonvance.com.
The information contained herein is provided for informational
purposes only and does not constitute a solicitation of an offer to
buy or sell Trust shares. Shares of the Trust are available for
purchase and sale only through secondary market trading on an
exchange or alternative trading venue.
Shares of closed-end funds often trade at a discount from their
net asset value. The market price of Trust shares may vary from net
asset value based on factors affecting the supply and demand for
shares, such as Trust distribution rates relative to similar
investments, investors' expectations for future distribution
changes, the clarity of the Trust's investment strategy and future
return expectations, and investors' confidence in the underlying
markets in which the Trust invests. Trust shares are subject to
investment risk, including possible loss of principal invested. The
Trust is not a complete investment program and investors may lose
money investing in the Trust. An investment in the Trust may not be
appropriate for all investors. Before investing, an investor should
consider carefully the Trust's investment objective, risks, charges
and expenses.
Statements in this press release that are not historical
facts are forward-looking statements as defined by the U.S.
securities laws. You should exercise caution in interpreting and
relying on forward-looking statements because they are subject to
uncertainties and other factors which are, in some cases, beyond
the Trust's control and could cause actual results to differ
materially from those set forth in the forward-looking
statements.
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SOURCE Eaton Vance Management