Eaton Vance Global Macro Absolute Return Fund Class R (ERGMX)

Overview

The fund is designed to pursue a total return investment strategy, focusing on both income and capital appreciation. It achieves its investment objective by engaging in a mix of long and short investment exposures globally. This involves investing in a variety of securities, derivatives, and other financial instruments. The fund's strategy encompasses investments across multiple countries, with a significant portion of its portfolio often exposed to foreign currencies and international investments. It primarily targets sovereign exposures including currencies, interest rates, and debt instruments that are issued or guaranteed by government entities. Despite its global reach and the complex nature of its investments, the fund is classified as non-diversified, indicating a concentrated investment approach in its chosen exposures.

Products and Services

• Global Investment Exposures

The fund provides investors with a pathway to gain exposures to a wide array of global markets. By investing in securities, derivatives, and other financial instruments worldwide, it offers a diversified approach to international investing. This is significant for investors looking to tap into global growth opportunities and mitigate risks associated with domestic market volatility.

• Long and Short Investment Strategies

Utilizing a combination of long and short strategies, the fund seeks to capitalize on both rising and declining markets around the globe. This involves purchasing assets expected to increase in value (long positions) and selling securities short that are anticipated to decrease in value. This dual strategy aims to generate returns and provide a hedge against market downturns, offering a balanced risk-reward profile for investors.

• Sovereign Exposures

By focusing on sovereign exposures, including currencies, interest rates, and debt instruments issued or guaranteed by government entities, the fund provides investors with a unique opportunity to invest in the economic and monetary policies of various countries. This can include investments in developed, emerging, and frontier markets, giving investors access to a wide range of debt instruments with differing risk and return profiles.

• Foreign Currency and International Investments

A significant portion of the fund's investments includes exposure to foreign currencies and international markets. This allows investors to benefit from fluctuations in currency exchange rates and the economic performance of different countries. Such exposure is crucial for diversification purposes and can lead to enhanced returns in a well-balanced investment portfolio.