Eaton Vance Emerging Markets Local Income Fund
EEIIX
NASDAQ- -
USD
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- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Income
- Address
- Boston, MA 02110 Boston MA United States of America 02110
- IPO Date
- Nov 27, 2009
- CIK
- 0000745463
- Website
- eatonvance.com
- Similar Companies
- Business
- Eaton Vance Emerging Markets Local Income Fund (EEIIX) is an open-end mutual fund that seeks total return by investing primarily in securities, derivatives, and other instruments providing exposure to emerging markets local currency debt. The fund normally invests at least 80% of its net assets in fixed-income securities denominated in local emerging market currencies, instruments issued by emerging market sovereigns and entities, and derivatives linked to such currencies, interest rates, or issuers, including sovereign bonds (such as Mexican and Polish government bonds), corporate bonds, currency forwards, credit default swaps, options, and futures; it maintains significant allocations to non-U.S. bonds (approximately 65%), cash equivalents (over 30%), and government-related securities. Available to U.S. investors through Class I shares (minimum initial investment of $1 million) and other classes like A and R6, the fund targets institutional and qualified retail investors with a net expense ratio of 1.01% and total net assets exceeding $1 billion. Launched on November 30, 2009, and domiciled in the United States with legal operations addressed through Eaton Vance Mutual Funds Trust at 155 Federal Street, Suite 700, Boston, Massachusetts, the fund operates as part of Eaton Vance Management, a wholly-owned subsidiary of Morgan Stanley Investment Management since the $7 billion acquisition of Eaton Vance Corp. by Morgan Stanley closed in March 2021. This integration has enhanced distribution capabilities, combining Eaton Vance's fixed-income expertise with Morgan Stanley's global platform, while generating cost savings and revenue synergies estimated at $150 million annually. In recent years, the fund has undergone significant portfolio management transitions, including Brian Shaw's appointment in June 2021, Patrick Campbell's in July 2022, and additions of Federico Sequeda, Hussein Khattab, Sahil Tandon, and Kyle Lee effective December 31, 2024, amid noted turnover in the emerging markets debt team; earlier in 2023, Eaton Vance restructured leadership for $12.1 billion in institutional funds including this strategy. The fund benchmarks against the JP Morgan GBI-EM Global Diversified Index and emphasizes high-conviction positions in countries undergoing structural changes, with top holdings featuring substantial cash positions alongside sovereign debt from Mexico (8.5%), Poland, and Egypt. Morgan Stanley's ongoing expansions, such as Parametric's Custom Active partnerships and real estate acquisitions in 2025, indirectly bolster the broader Eaton Vance platform supporting EEIIX.