Eaton Vance California Municipal Bond Fund
EVM
New York Stock Exchange American- -
USD
- -
- -
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- CEO
- Payson F. Swaffield
- Sector
- Financial Services
- Industry
- Asset Management - Bonds
- Address
- Two International Place Boston MA United States of America 02110
- IPO Date
- Aug 28, 2002
- CIK
- 0001177161
- Website
- funds.eatonvance.com
- Similar Companies
- Business
- Eaton Vance California Municipal Bond Fund (NYSE American: EVM) is a closed-end fixed income mutual fund managed by Eaton Vance Management that seeks current income through investment primarily in high grade municipal obligations issued by the State of California and its political subdivisions. The Fund invests in a diversified portfolio of municipal bonds across various sectors including general obligations, hospitals such as Cedars-Sinai Medical Center and Kaiser Foundation Hospitals, electric utilities, transportation, water and sewer systems, public education including school districts like Manteca Unified, Modesto High, Ukiah Unified, Sweetwater Union High, ABC Unified and San Luis Obispo County Community College District, and private education; it may employ leverage through floating rate notes, auction preferred shares and institutional municipal term preferred shares to enhance returns. Shares trade on the NYSE American at market prices that often reflect a discount or premium to net asset value, with the Fund maintaining a policy of stable monthly distributions that may include exempt-interest dividends, ordinary dividends, capital gains and return of capital, providing a taxable-equivalent yield of approximately 10-11% for investors in the highest federal tax bracket. Formed in 2002 and domiciled in the United States with administration in Boston, Massachusetts by Eaton Vance Management—a subsidiary of Morgan Stanley since its acquisition in March 2021—the Fund targets retail and institutional investors seeking tax-exempt income from California municipal securities. In August 2025, Eaton Vance Management recommended and the Board of Trustees approved a proposal to liquidate the Fund, following standstill agreements with major shareholder Saba Capital Management, L.P., which agreed to withdraw its board nominees and support the liquidation; shareholders approved the plan at the Annual Meeting on September 23, 2025, with trading ceasing on October 24, 2025, and primary liquidation distributions paid on or about October 27, 2025.