Eaton Vance Floating‑Rate Fund Institutional Class (EIBLX)

Overview

The fund is primarily engaged in investing a significant portion of its assets in income-generating floating rate loans and other floating rate debt securities. Focusing on the acquisition of senior floating rate loans from both domestic and foreign borrowers, the fund predominantly invests in offerings that are considered below investment grade quality. These offerings typically have credit ratings that place them in the high-risk, speculative category, commonly referred to as "junk." This investment strategy targets assets that adjust their interest rates periodically, potentially providing a hedge against interest rate fluctuations.

Products and Services

• Income Producing Floating Rate Loans

  Invests at least 80% of its total assets in floating rate loans that generate income. These loans adjust their interest rates periodically, reflecting changes in market interest rates, which can provide benefits in various interest rate environments.

• Senior Floating Rate Loans

  The fund focuses on investments in senior floating rate loans of both domestic and international borrowers. Senior loans are typically secured and have a higher priority in terms of repayment in the event of the borrower's default, reducing the risk compared to subordinate loans.

• Other Floating Rate Debt Securities

  Beyond senior loans, the fund also diversifies its portfolio with other types of floating rate debt securities. These can include but are not limited to, floating rate bonds, notes, and other financial instruments that provide variable interest payments.

• Below Investment Grade Investments

  A significant portion of the fund's investments are in loans and securities that are rated below investment grade. These are also known as high-yield or "junk" investments, characterized by higher risk but offering the potential for higher returns compared to investment-grade securities.