Eaton Vance Management (International) has launched the Eaton Vance International (Ireland) Parametric Global Defensive Equity Fund, a sub-fund of Eaton Vance International (Ireland) Funds Plc.
The strategy currently has over $200m of assets under management, of which over $70m was invested at the fund’s inception in May 2017.
The Ucits fund is managed by Eaton Vance Advisers (Ireland) Limited with Parametric Portfolio Associates as investment adviser.
The fund’s portfolio managers are Jack Hansen, chief investment officer, Thomas Lee, managing director – investment strategy and research, and Alex Zweber, portfolio manager of Parametric’s Minneapolis Investment Center.
The fund consists of a defensive equity exposure that is positioned to provide favourable absolute and risk-adjusted performance relative to the MSCI All Country World Total Return Net USD Index over the long term.
It seeks to produce the strongest relative performance when the MSCI ACWI Index is experiencing negative returns.
The Fund will seek to increase portfolio diversification at a lower cost than traditional alternative investments, without sacrificing liquidity.
As of 30 April 2017, Parametric managed approximately $201.4bn in total assets.
Eaton Vance and its affiliates managed $387bn in assets as of 30 April 2017.