Eaton Vance New York Municipal Bond Fund Reports Earnings Results for the Fourth Quarter and Year Ended September 30, 2013
December 26, 2013 at 12:35 pm EST
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Eaton Vance New York Municipal Bond Fund reported earnings results for the fourth quarter and year ended September 30, 2013. For the three months, the net investment income was $2,939,954 or $0.185 per share against $2,859,856 or $0.180 per share for the same period a year ago. Net realized and unrealized losses were $5,501,560 or $0.343 per share against net realized and unrealized gains $7,870,931 or $0.497 per share for the same period a year ago. Net decrease in net assets from operations was $2,562,000 or $0.158 per share compared to net increase in net assets from operations of $10,731,000 or $0.677 per share for the same period a year ago.
For the year ended, the net investment income was $11,688,802 or $0.735 per share against $11,564,459 or $0.728 per share. Net realized and unrealized losses were $28,133,457 or $1.767 per share against net realized and unrealized gains of $20,753,356 or $1.308 per share for the same period ago. The net asset value per share on September 30, 2013 was $12.74 based on 15,896,585 shares outstanding against $14.46 based on 15,893,773 shares outstanding for the same period a year ago. Net decrease in net assets from operations was $16,445,000 or $1.032 per share compared to net increase in net assets from operations of $32,318,000 or $2.036 per share for the same period a year ago.
Eaton Vance New York Municipal Bond Fund is a non-diversified, closed-end management investment company. The Fundâs investment objective is to provide current income exempt from federal income tax. During normal market conditions, at least 80% of the Fundâs net assets may be invested in municipal obligations, the interest on which is exempt from federal income tax, including the alternative minimum tax (AMT). The Fund may invest up to 20% of its net assets in municipal obligations rated BBB/Baa or below (or unrated obligations deemed by the Fundâs adviser, Eaton Vance Management, provided that not more than 15% of its net assets may be invested in municipal obligations rated below B and may invest up to 20% of its net assets in bonds on which the interest is subject to the AMT. The Fund's investment portfolio includes various sectors, such as hospital, education, housing, bond bank, electric utilities and water and sewer. Eaton Vance Management is the investment advisor for the Fund.