Overview

Historical Returns (%) as of Sep 30, 2021

Past performance is no guarantee of future results. Investment return and principal value will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Performance is for the stated time period only; due to market volatility, the Fund’s current performance may be lower or higher than quoted. Returns are historical and are calculated by determining the percentage change in net asset value (NAV) with all distributions reinvested. Returns for other classes of shares offered by the Fund are different. Performance less than or equal to one year is cumulative. Source: Eaton Vance and RIMES.
 

Fund Facts as of Sep 30, 2021

Class I Acc USD Inception 02/01/2018
Investment Objective Total return
Total Net Assets $442.1M
Minimum Investment $5000000

Fund Codes

CUSIP G29202515
ISIN IE00BF2K4D33
SEDOL BF2K4D3
Valor Number 38857042
Wertpapierkennnummer N/A
 

The portfolio profile is subject to change due to active management. Percentages may not total 100 % due to rounding.

About Risk: 

Eaton Vance International (Ireland) Emerging Markets Local Income Fund (the "Fund") share values are sensitive to stock market volatility, adverse market, economic, political, regulatory, geopolitical and other conditions. In international markets, these risks may be more significant. An imbalance in supply and demand in the income market may result in valuation uncertainties and greater volatility, less liquidity, widening credit spreads and a lack of price transparency in the market. Investments in income securities may be affected by changes in the creditworthiness of the issuer and are subject to the risk of nonpayment of principal and interest. The value of income securities also may decline because of real or perceived concerns about the issuer’s ability to make principal and interest payments. Derivative instruments can be used to take both long and short positions, be highly volatile, result in economic leverage (which can magnify losses), and involve risks in addition to the risks of the underlying instrument on which the derivative is based, such as counterparty, correlation and liquidity risk. If a counterparty is unable to honor its commitments, the value of Fund shares may decline and/or the Fund could experience delays in the return of collateral or other assets held by the counterparty. The value of commodities investments will generally be affected by overall market movements and factors specific to a particular industry or commodity, including weather, embargoes, tariffs, or health, political, international and regulatory developments. As interest rates rise, the value of certain income investments is likely to decline. Because the Fund investments may be concentrated in a particular geographic region or country, the Fund share value may fluctuate more than that of a less concentrated fund. A nondiversified fund may be subject to greater risk by investing in a smaller number of investments than a diversified fund. Investments rated below investment grade (typically referred to as “junk”) are generally subject to greater price volatility and illiquidity than higher-rated investments. No fund is a complete investment program and you may lose money investing in a fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.


Performance

Historical Returns (%) as of Sep 30, 2021

Past performance is no guarantee of future results. Investment return and principal value will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Performance is for the stated time period only; due to market volatility, the Fund’s current performance may be lower or higher than quoted. Returns are historical and are calculated by determining the percentage change in net asset value (NAV) with all distributions reinvested. Returns for other classes of shares offered by the Fund are different. Performance less than or equal to one year is cumulative. Source: Eaton Vance and RIMES.
 

Calendar Year Returns (%)

2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
Fund at NAV 23.07 5.54
J.P. Morgan Government Bond Index: Emerging Market (JPM GBI-EM) Global Diversified1 -1.75 16.76 -8.98 -5.72 -14.92 9.94 15.21 -6.21 13.47 2.69
 

Fund Facts

Class I Acc USD Inception 02/01/2018
 

NAV History

Date NAV NAV Change
Oct 21, 2021 $10.67 -$0.07
Oct 20, 2021 $10.74 $0.02
Oct 19, 2021 $10.72 $0.04
Oct 18, 2021 $10.68 -$0.06
Oct 15, 2021 $10.74 $0.02
Oct 14, 2021 $10.72 $0.04
Oct 13, 2021 $10.68 $0.03
Oct 12, 2021 $10.65 $0.00
Oct 11, 2021 $10.65 -$0.02
Oct 08, 2021 $10.67 -$0.01

The portfolio profile is subject to change due to active management. Percentages may not total 100 % due to rounding.

About Risk: 

Eaton Vance International (Ireland) Emerging Markets Local Income Fund (the "Fund") share values are sensitive to stock market volatility, adverse market, economic, political, regulatory, geopolitical and other conditions. In international markets, these risks may be more significant. An imbalance in supply and demand in the income market may result in valuation uncertainties and greater volatility, less liquidity, widening credit spreads and a lack of price transparency in the market. Investments in income securities may be affected by changes in the creditworthiness of the issuer and are subject to the risk of nonpayment of principal and interest. The value of income securities also may decline because of real or perceived concerns about the issuer’s ability to make principal and interest payments. Derivative instruments can be used to take both long and short positions, be highly volatile, result in economic leverage (which can magnify losses), and involve risks in addition to the risks of the underlying instrument on which the derivative is based, such as counterparty, correlation and liquidity risk. If a counterparty is unable to honor its commitments, the value of Fund shares may decline and/or the Fund could experience delays in the return of collateral or other assets held by the counterparty. The value of commodities investments will generally be affected by overall market movements and factors specific to a particular industry or commodity, including weather, embargoes, tariffs, or health, political, international and regulatory developments. As interest rates rise, the value of certain income investments is likely to decline. Because the Fund investments may be concentrated in a particular geographic region or country, the Fund share value may fluctuate more than that of a less concentrated fund. A nondiversified fund may be subject to greater risk by investing in a smaller number of investments than a diversified fund. Investments rated below investment grade (typically referred to as “junk”) are generally subject to greater price volatility and illiquidity than higher-rated investments. No fund is a complete investment program and you may lose money investing in a fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.


Portfolio

Asset Mix (%)2,3 as of Sep 30, 2021

Portfolio Statistics as of Sep 30, 2021

Average Duration 5.56 yrs.
Countries Represented 38
 

Credit Quality (%)4 as of Sep 30, 2021

AAA 8.78
AA 0.42
A 19.02
BBB 22.93
BB 25.63
B 22.72
CCC or Lower 0.50
Not Rated 0.00
Total 100.00
Ratings are based on Moody's, S&P or Fitch, as applicable. If securities are rated differently by the ratings agencies, the highest rating is applied. Ratings, which are subject to change, apply to the creditworthiness of the issuers of the underlying securities and not to the Fund or its shares. Credit ratings measure the quality of a bond based on the issuer's creditworthiness, with ratings ranging from AAA, being the highest, to D, being the lowest based on S&P's measures. Ratings of BBB or higher by S&P or Fitch (Baa or higher by Moody's) are considered to be investment-grade quality. Credit ratings are based largely on the ratings agency's analysis at the time of rating. The rating assigned to any particular security is not necessarily a reflection of the issuer's current financial condition and does not necessarily reflect its assessment of the volatility of a security's market value or of the liquidity of an investment in the security. Holdings designated as "Not Rated" are not rated by the national ratings agencies stated above.

Foreign Currency Exposure (%)5 as of Sep 30, 2021

Indonesian Rupiah 14.17
Russian Ruble 12.71
Malaysian Ringgit 10.98
Polish Zloty 10.36
Mexican Peso 8.94
Egyptian Pound 8.93
Chinese Yuan 8.16
Brazilian Real 8.01
Hungarian Forint 7.35
Thai Baht 5.44
View All
 

Foreign Contribution to Duration (yrs) as of Sep 30, 2021

Indonesia 0.71
South Africa 0.66
Malaysia 0.63
Thailand 0.53
Mexico 0.52
China 0.50
Serbia 0.34
Russia 0.31
Colombia 0.23
Czech Republic 0.23
View All

Foreign Sovereign External Debt (%)6 as of Sep 30, 2021

Macedonia 0.00
Romania 0.00

The portfolio profile is subject to change due to active management. Percentages may not total 100 % due to rounding.

About Risk: 

Eaton Vance International (Ireland) Emerging Markets Local Income Fund (the "Fund") share values are sensitive to stock market volatility, adverse market, economic, political, regulatory, geopolitical and other conditions. In international markets, these risks may be more significant. An imbalance in supply and demand in the income market may result in valuation uncertainties and greater volatility, less liquidity, widening credit spreads and a lack of price transparency in the market. Investments in income securities may be affected by changes in the creditworthiness of the issuer and are subject to the risk of nonpayment of principal and interest. The value of income securities also may decline because of real or perceived concerns about the issuer’s ability to make principal and interest payments. Derivative instruments can be used to take both long and short positions, be highly volatile, result in economic leverage (which can magnify losses), and involve risks in addition to the risks of the underlying instrument on which the derivative is based, such as counterparty, correlation and liquidity risk. If a counterparty is unable to honor its commitments, the value of Fund shares may decline and/or the Fund could experience delays in the return of collateral or other assets held by the counterparty. The value of commodities investments will generally be affected by overall market movements and factors specific to a particular industry or commodity, including weather, embargoes, tariffs, or health, political, international and regulatory developments. As interest rates rise, the value of certain income investments is likely to decline. Because the Fund investments may be concentrated in a particular geographic region or country, the Fund share value may fluctuate more than that of a less concentrated fund. A nondiversified fund may be subject to greater risk by investing in a smaller number of investments than a diversified fund. Investments rated below investment grade (typically referred to as “junk”) are generally subject to greater price volatility and illiquidity than higher-rated investments. No fund is a complete investment program and you may lose money investing in a fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.


Management

John R. Baur

John R. Baur

Co-Director, Emerging Markets Team
Joined Eaton Vance in 2005

Biography

John Baur is a vice president of Eaton Vance Management, co-director of emerging markets and portfolio manager on Eaton Vance's emerging markets team. He is responsible for co-leading the emerging markets team with investment professionals based in Boston, Washington, D.C., London and Singapore, as well as for buy and sell decisions, portfolio construction and risk management for the firm's emerging markets strategies. He joined Eaton Vance in 2005.

John began his career in the investment management industry in 2005. Before joining Eaton Vance, he was employed by Applied Materials in an engineering capacity, spending five of his seven years at the firm in Asia.

John earned a B.S. from MIT and an M.B.A. from the Johnson Graduate School of Management at Cornell University.

Education
  • B.S. Massachusetts Institute of Technology
  • M.B.A. Johnson Graduate School of Management, Cornell University

Experience
  • Managed Fund since inception

 
Danat Abdrakhmanov, CFA

Danat Abdrakhmanov, CFA

Vice President, Eaton Vance Advisers International Ltd.
Joined Eaton Vance in 2006

Biography

Danat Abdrakhmanov is a vice president of Eaton Vance Advisers International Ltd. and portfolio manager on Eaton Vance's emerging markets team. He is responsible for buy and sell decisions, portfolio construction and risk management for the firm's emerging markets strategies. He began his career in the investment management industry with Eaton Vance in 2006.

Danat earned a B.S., cum laude, from the Carroll School of Management at Boston College. He is a member of the CFA Society of the UK and is a CFA charterholder.

Education
  • B.S. Boston College

Experience
  • Managed Fund since inception

Other funds managed
 

Brian Shaw, CFA

Vice President, Eaton Vance Management
Joined Eaton Vance in 2008

Biography

Brian Shaw is a vice president of Eaton Vance Management and portfolio manager on Eaton Vance's emerging markets team. He is responsible for buy and sell decisions, portfolio construction and risk management for the firm's emerging markets strategies. He joined Eaton Vance in 2008.

Brian began his career in the investment management industry in 2007. Before joining Eaton Vance, he was affiliated with Graham Capital Management, LP.

Brian earned a BA from Vanderbilt University and an MBA from the University of Chicago. He is a member of the CFA Society Boston and is a CFA charterholder.

Education
  • B.A. Vanderbilt University
  • M.B.A University of Chicago

Experience
  • Managed Fund since 2021

 

Literature

Literature

Fact Sheet

Download Fact Sheet - Last updated: Sep 30, 2021

Commentary

Download Commentary - Last updated: Jun 30, 2021

Annual Report (Swiss German)

Download Annual Report (Swiss German) - Last updated: Dec 31, 2020

Annual Report (Spanish)

Download Annual Report (Spanish) - Last updated: Dec 31, 2020

Annual Report (Italian)

Download Annual Report (Italian) - Last updated: Dec 31, 2020

Annual Report (English)

Download Annual Report (English) - Last updated: Dec 31, 2020

Eaton Vance International (Ireland) Funds Full Prospectus (English)

Download Eaton Vance International (Ireland) Funds Full Prospectus (English) - Last updated: Oct 1, 2021

Eaton Vance Global Advisors Limited Privacy Statement

Download Eaton Vance Global Advisors Limited Privacy Statement - Last updated: Apr 17, 2018

Int'l (Irl) Emerging Markets Local Income Holdings

Download Int'l (Irl) Emerging Markets Local Income Holdings - Last updated: Aug 31, 2021

Prospectus Supplement (English)

Download Prospectus Supplement (English) - Last updated: Oct 1, 2021

Semiannual Report (English)

Download Semiannual Report (English) - Last updated: Jun 30, 2021