BOSTON, April 15, 2015 /PRNewswire/ -- Eaton Vance Municipal Income 2028 Term Trust (NYSE: ETX) (the "Trust"), a closed-end management investment company, today announced the earnings of the Trust for the three months and year ended January 31, 2015. The Trust's fiscal year ended on January 31, 2015.
For the three months ended January 31, 2015, the Trust had net investment income of $2,488,470 ($0.229 per common share). The Trust's net investment income for the year ended January 31, 2015 was $10,038,728 ($0.917 per common share). In comparison, for the three months ended January 31, 2014, the Trust had net investment income of $2,608,607 ($0.237 per common share). The Trust's net investment income for the period from the start of business, March 28, 2013, to January 31, 2014, was $7,815,637 ($0.716 per common share).
Net realized and unrealized gains for the three months ended January 31, 2015 were $9,671,366 ($0.892 per common share). The Trust's net realized and unrealized gains for the year ended January 31, 2015 were $38,819,190 ($3.546 per common share). In comparison, net realized and unrealized gains for the three months ended January 31, 2014 were $6,936,135 ($0.623 per common share). The Trust's net realized and unrealized losses for the period from the start of business, March 28, 2013, to January 31, 2014 were $24,237,065 ($2.188 per common share).
On January 31, 2015, net assets of the Trust were $223,729,793. The net asset value per share on January 31, 2015 was $20.65 based on 10,832,544 common shares outstanding. In comparison, on January 31, 2014, net assets of the Trust were $187,594,391. The net asset value per share on January 31, 2014 was $17.00 based on 11,031,844 common shares outstanding.
The Trust periodically makes certain performance data and information about portfolio characteristics available on www.eatonvance.com (on the fund information page under "Individual Investors – Closed-End Funds"). Trust portfolio holdings for the most recent month-end are also posted to the website approximately 30 days following month-end.
The Trust is managed by Eaton Vance Management, a subsidiary of Eaton Vance Corp. (NYSE: EV), based in Boston, one of the oldest investment management firms in the United States, with a history dating back to 1924. Eaton Vance and its affiliates managed $303.4 billion in assets as of March 31, 2015 offering individuals and institutions a broad array of investment strategies and wealth management solutions. The Company's long record of providing exemplary service and attractive returns through a variety of market conditions has made Eaton Vance the investment manager of choice for many of today's most discerning investors. For more information about Eaton Vance, visit www.eatonvance.com.
EATON VANCE MUNICIPAL INCOME 2028 TERM TRUST | ||||||||
SUMMARY OF RESULTS OF OPERATIONS | ||||||||
(in thousands, except per share amounts) | ||||||||
Three Months Ended | Year Ended | Period Ended | ||||||
January 31, | January 31, | January 31,* | ||||||
2015 | 2014 | 2015 | 2014 | |||||
Net investment income | $ 2,488 | $ 2,609 | $ 10,039 | $ 7,816 | ||||
Net realized and unrealized gains (losses) | ||||||||
on investments | 9,671 | 6,936 | 38,819 | (24,237) | ||||
Net increase (decrease) in net assets | ||||||||
from operations | $ 12,159 | $ 9,545 | $ 48,858 | $(16,421) | ||||
Earnings per Common Share Outstanding | ||||||||
Net investment income | $ 0.229 | $ 0.237 | $ 0.917 | $ 0.716 | ||||
Net realized and unrealized gains (losses) | ||||||||
on investments | 0.892 | 0.623 | 3.546 | (2.188) | ||||
Net increase (decrease) in net assets | ||||||||
from operations | $ 1.121 | $ 0.860 | $ 4.463 | $ (1.472) | ||||
Net Asset Value at January 31 (Common Shares) | ||||||||
Net assets | $223,730 | $187,594 | ||||||
Shares outstanding | 10,833 | 11,032 | ||||||
Net asset value per share outstanding | $20.65 | $17.00 | ||||||
Market Value Summary (Common Shares) | ||||||||
Market price on NYSE at January 31 | $18.32 | $15.90 | ||||||
High market price (period ended January 31) | $18.47 | $20.30 | ||||||
Low market price (period ended January 31) | $15.41 | $13.65 | ||||||
* For the period from the start of business, March 28, 2013 to January 31, 2014. | ||||||||
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SOURCE Eaton Vance Management
