UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act File Number: 811-21519
Eaton Vance Tax-Advantaged Global Dividend Opportunities Fund
(Exact Name of Registrant as Specified in Charter)
Two International Place, Boston, Massachusetts 02110
(Address of Principal Executive Offices)
Deidre E. Walsh
Two International Place, Boston, Massachusetts 02110
(Name and Address of Agent for Services)
(617) 482-8260
(Registrant’s Telephone Number)
October 31
Date of Fiscal Year End
April 30, 2022
Date of Reporting Period
Item 1. Reports to Stockholders
% Average Annual Total Returns1,2 | Inception Date | Six Months | One Year | Five Years | Ten Years |
Fund at NAV | 04/30/2004 | (15.47)% | (7.30)% | 10.48% | 11.13% |
Fund at Market Price | — | (21.08) | (8.65) | 9.50 | 12.17 |
MSCI World Index | — | (11.30)% | (3.52)% | 10.16% | 10.05% |
ICE BofA Fixed Rate Preferred Securities Index | — | (11.70) | (10.10) | 2.39 | 4.53 |
Blended Index | — | (11.36) | (4.80) | 8.68 | 9.03 |
% Premium/Discount to NAV3 | |
(3.76)% |
Distributions 4 | |
Total Distributions per share for the period | $1.075 |
Distribution Rate at NAV | 8.42% |
Distribution Rate at Market Price | 8.75 |
% Total Leverage5 | |
Borrowings | 19.76% |
Sector Allocation (% of total investments)* |
* | Excludes cash and cash equivalents. |
Country Allocation (% of total investments) |
Top 10 Holdings (% of total investments)* | |
Alphabet, Inc., Class C | 4.0% |
Microsoft Corp. | 3.9 |
Apple, Inc. | 2.5 |
Amazon.com, Inc. | 2.3 |
Coca-Cola Co. (The) | 1.8 |
ASML Holding NV | 1.6 |
Nestle S.A. | 1.5 |
Eli Lilly & Co. | 1.4 |
EOG Resources, Inc. | 1.3 |
Novo Nordisk A/S, Class B | 1.3 |
Total | 21.6% |
* | Excludes cash and cash equivalents. |
1 | MSCI World Index is an unmanaged index of equity securities in the developed markets. MSCI indexes are net of foreign withholding taxes. Source: MSCI. MSCI data may not be reproduced or used for any other purpose. MSCI provides no warranties, has not prepared or approved this report, and has no liability hereunder. ICE BofA Fixed Rate Preferred Securities Index is an unmanaged index of fixed-rate, preferred securities issued in the U.S. ICE® BofA® indices are not for redistribution or other uses; provided “as is”, without warranties, and with no liability. Eaton Vance has prepared this report and ICE Data Indices, LLC does not endorse it, or guarantee, review, or endorse Eaton Vance’s products. BofA® is a licensed registered trademark of Bank of America Corporation in the United States and other countries. The Blended Index consists of 80% MSCI World Index and 20% ICE BofA Fixed Rate Preferred Securities Index, rebalanced monthly. Unless otherwise stated, index returns do not reflect the effect of any applicable sales charges, commissions, expenses, taxes or leverage, as applicable. It is not possible to invest directly in an index. |
2 | Performance results reflect the effects of leverage. |
3 | The shares of the Fund often trade at a discount or premium to their net asset value. The discount or premium may vary over time and may be higher or lower than what is quoted in this report. For up-to-date premium/discount information, please refer to https://funds.eatonvance.com/closed-end-fund-prices.php. |
4 | The Distribution Rate is based on the Fund’s last regular distribution per share in the period (annualized) divided by the Fund’s NAV or market price at the end of the period. The Fund’s distributions may be comprised of amounts characterized for federal income tax purposes as qualified and non-qualified ordinary dividends, capital gains and nondividend distributions, also known as return of capital. For additional information about nondividend distributions, please refer to Eaton Vance Closed-End Fund Distribution Notices (19a) posted on our website, eatonvance.com. The Fund will determine the federal income tax character of distributions paid to a shareholder after the end of the calendar year. This is reported on the IRS form 1099-DIV and provided to the shareholder shortly after each year-end. For information about the tax character of distributions made in prior calendar years, please refer to Performance-Tax Character of Distributions on the Fund’s webpage available at eatonvance. com. The Fund’s distributions are determined by the investment adviser based on its current assessment of the Fund’s long-term return potential. Fund distributions may be affected by numerous factors including changes in Fund performance, the cost of financing for leverage, portfolio holdings, realized and projected returns, and other factors. As portfolio and market conditions change, the rate of distributions paid by the Fund could change. |
5 | Total leverage is shown as a percentage of the Fund’s aggregate net assets plus borrowings outstanding. The Fund employs leverage through borrowings. Use of leverage creates an opportunity for income, but creates risks including greater price volatility. The cost of borrowings rises and falls with changes in short-term interest rates. The Fund may be required to maintain prescribed asset coverage for its leverage and may be required to reduce its leverage at an inopportune time. |
Fund profile subject to change due to active management. |
Common Stocks — 101.8% |
Security | Shares | Value | |
Aerospace & Defense — 0.9% | |||
Safran S.A. | 36,543 | $ 3,924,662 | |
$ 3,924,662 | |||
Air Freight & Logistics — 0.8% | |||
GXO Logistics, Inc.(1) | 59,545 | $ 3,524,469 | |
$ 3,524,469 | |||
Automobiles — 2.2% | |||
Bayerische Motoren Werke AG | 31,196 | $ 2,547,645 | |
Mercedes-Benz Group AG | 50,111 | 3,497,806 | |
Stellantis NV | 247,622 | 3,324,486 | |
$ 9,369,937 | |||
Banks — 9.9% | |||
Banco Santander S.A. | 1,055,353 | $ 3,084,109 | |
Bank of New York Mellon Corp. (The) | 65,185 | 2,741,681 | |
Citigroup, Inc. | 59,989 | 2,892,070 | |
Credit Agricole S.A. | 265,833 | 2,870,481 | |
DNB Bank ASA | 93,958 | 1,820,653 | |
HDFC Bank, Ltd. | 156,891 | 2,807,433 | |
ING Groep NV | 414,724 | 3,929,182 | |
M&T Bank Corp. | 28,807 | 4,800,399 | |
Skandinaviska Enskilda Banken AB, Class A | 140,767 | 1,578,575 | |
Standard Chartered PLC | 179,167 | 1,224,843 | |
Svenska Handelsbanken AB, Class A | 387,580 | 3,909,255 | |
Swedbank AB, Class A | 60,628 | 959,089 | |
Toronto-Dominion Bank (The) | 60,197 | 4,348,017 | |
Wells Fargo & Co.(2) | 105,796 | 4,615,879 | |
$ 41,581,666 | |||
Beverages — 3.6% | |||
Coca-Cola Co. (The)(2) | 142,390 | $ 9,199,818 | |
Diageo PLC | 121,215 | 6,047,277 | |
$ 15,247,095 | |||
Biotechnology — 0.8% | |||
CSL, Ltd. | 16,973 | $ 3,239,299 | |
$ 3,239,299 | |||
Building Products — 1.4% | |||
Assa Abloy AB, Class B | 131,217 | $ 3,316,133 |
Security | Shares | Value | |
Building Products (continued) | |||
Kingspan Group PLC | 25,141 | $ 2,340,302 | |
$ 5,656,435 | |||
Capital Markets — 0.5% | |||
State Street Corp. | 31,176 | $ 2,087,857 | |
$ 2,087,857 | |||
Chemicals — 1.4% | |||
BASF SE | 48,709 | $ 2,565,161 | |
Covestro AG(3) | 72,167 | 3,107,188 | |
Sika AG | 410 | 125,238 | |
$ 5,797,587 | |||
Construction & Engineering — 0.9% | |||
Bouygues S.A. | 77,836 | $ 2,676,254 | |
Skanska AB, Class B | 61,460 | 1,174,021 | |
$ 3,850,275 | |||
Construction Materials — 0.2% | |||
Holcim AG | 20,421 | $ 998,495 | |
$ 998,495 | |||
Diversified Telecommunication Services — 1.2% | |||
Elisa Oyj | 24,907 | $ 1,460,083 | |
Swisscom AG | 2,346 | 1,387,192 | |
Telefonica Deutschland Holding AG | 709,041 | 2,132,461 | |
$ 4,979,736 | |||
Electric Utilities — 1.7% | |||
Iberdrola S.A. | 321,830 | $ 3,698,085 | |
NextEra Energy, Inc. | 44,926 | 3,190,645 | |
$ 6,888,730 | |||
Electrical Equipment — 2.5% | |||
AMETEK, Inc. | 38,890 | $ 4,910,252 | |
Schneider Electric SE | 39,317 | 5,640,775 | |
$ 10,551,027 | |||
Electronic Equipment, Instruments & Components — 4.0% | |||
CDW Corp. | 25,076 | $ 4,091,902 | |
Halma PLC | 117,906 | 3,619,187 | |
Keyence Corp. | 5,180 | 2,082,381 |
Security | Shares | Value | |
Electronic Equipment, Instruments & Components (continued) | |||
TE Connectivity, Ltd. | 29,340 | $ 3,661,045 | |
Zebra Technologies Corp., Class A(1) | 8,333 | 3,080,377 | |
$ 16,534,892 | |||
Entertainment — 1.2% | |||
Walt Disney Co. (The)(1)(2) | 45,462 | $ 5,074,923 | |
$ 5,074,923 | |||
Equity Real Estate Investment Trusts (REITs) — 0.7% | |||
American Tower Corp. | 5,635 | $ 1,358,148 | |
Equity Residential | 5,932 | 483,458 | |
Healthpeak Properties, Inc. | 38,671 | 1,268,795 | |
$ 3,110,401 | |||
Food Products — 3.2% | |||
Mondelez International, Inc., Class A | 88,589 | $ 5,712,219 | |
Nestle S.A. | 58,721 | 7,580,533 | |
$ 13,292,752 | |||
Health Care Equipment & Supplies — 3.8% | |||
Alcon, Inc. | 29,370 | $ 2,097,042 | |
Boston Scientific Corp.(1)(2) | 153,851 | 6,478,666 | |
Intuitive Surgical, Inc.(1) | 17,145 | 4,102,798 | |
Straumann Holding AG | 27,050 | 3,188,967 | |
$ 15,867,473 | |||
Health Care Providers & Services — 1.4% | |||
Anthem, Inc. | 11,647 | $ 5,845,979 | |
$ 5,845,979 | |||
Hotels, Restaurants & Leisure — 1.7% | |||
Compass Group PLC | 231,566 | $ 4,886,468 | |
InterContinental Hotels Group PLC | 37,627 | 2,402,097 | |
$ 7,288,565 | |||
Industrial Conglomerates — 0.8% | |||
Siemens AG | 28,692 | $ 3,527,824 | |
$ 3,527,824 | |||
Insurance — 4.3% | |||
AIA Group, Ltd. | 199,424 | $ 1,959,093 | |
Allianz SE | 9,347 | 2,109,002 | |
Allstate Corp. (The) | 22,180 | 2,806,657 | |
Arch Capital Group, Ltd.(1)(2) | 30,678 | 1,401,064 | |
Aviva PLC | 392,461 | 2,105,602 |
Security | Shares | Value | |
Insurance (continued) | |||
AXA S.A. | 18,577 | $ 491,455 | |
SCOR SE | 79,501 | 2,247,797 | |
Swiss Re AG | 34,125 | 2,798,483 | |
Zurich Insurance Group AG | 4,115 | 1,873,434 | |
$ 17,792,587 | |||
Interactive Media & Services — 5.3% | |||
Alphabet, Inc., Class C(1)(2) | 9,041 | $ 20,788,243 | |
Meta Platforms, Inc., Class A(1) | 6,985 | 1,400,283 | |
$ 22,188,526 | |||
Internet & Direct Marketing Retail — 2.9% | |||
Amazon.com, Inc.(1)(2) | 4,816 | $ 11,970,794 | |
$ 11,970,794 | |||
IT Services — 3.3% | |||
Amadeus IT Group S.A.(1) | 45,562 | $ 2,855,048 | |
Fidelity National Information Services, Inc.(2) | 36,286 | 3,597,757 | |
Global Payments, Inc. | 13,890 | 1,902,652 | |
Visa, Inc., Class A | 25,008 | 5,329,955 | |
$ 13,685,412 | |||
Leisure Products — 0.4% | |||
Yamaha Corp. | 46,570 | $ 1,779,299 | |
$ 1,779,299 | |||
Life Sciences Tools & Services — 0.6% | |||
Lonza Group AG | 4,240 | $ 2,500,047 | |
$ 2,500,047 | |||
Machinery — 2.1% | |||
Graco, Inc. | 31,772 | $ 1,970,499 | |
Ingersoll Rand, Inc. | 70,776 | 3,111,313 | |
SMC Corp. | 4,689 | 2,270,508 | |
Volvo AB, Class B | 101,977 | 1,626,883 | |
$ 8,979,203 | |||
Metals & Mining — 1.7% | |||
Anglo American PLC | 86,639 | $ 3,837,326 | |
Rio Tinto, Ltd. | 42,111 | 3,331,143 | |
$ 7,168,469 |
Security | Shares | Value | |
Multi-Utilities — 0.5% | |||
CMS Energy Corp. | 28,128 | $ 1,932,112 | |
$ 1,932,112 | |||
Oil, Gas & Consumable Fuels — 3.3% | |||
ConocoPhillips | 41,007 | $ 3,916,988 | |
EOG Resources, Inc.(2) | 59,897 | 6,993,574 | |
Pioneer Natural Resources Co.(2) | 12,966 | 3,014,206 | |
$ 13,924,768 | |||
Pharmaceuticals — 8.5% | |||
AstraZeneca PLC | 34,370 | $ 4,586,377 | |
Eli Lilly & Co. | 25,444 | 7,432,956 | |
Novo Nordisk A/S, Class B | 57,955 | 6,619,981 | |
Roche Holding AG PC | 14,431 | 5,351,213 | |
Sanofi | 60,083 | 6,350,465 | |
Zoetis, Inc. | 28,216 | 5,001,286 | |
$ 35,342,278 | |||
Professional Services — 2.6% | |||
Recruit Holdings Co., Ltd. | 73,009 | $ 2,648,883 | |
RELX PLC | 178,205 | 5,308,812 | |
Verisk Analytics, Inc. | 13,721 | 2,799,770 | |
$ 10,757,465 | |||
Semiconductors & Semiconductor Equipment — 5.3% | |||
ASML Holding NV | 14,481 | $ 8,218,525 | |
Infineon Technologies AG | 145,473 | 4,128,991 | |
Micron Technology, Inc. | 69,446 | 4,735,523 | |
Taiwan Semiconductor Manufacturing Co., Ltd. ADR | 54,763 | 5,089,125 | |
$ 22,172,164 | |||
Software — 6.7% | |||
Dassault Systemes SE | 100,340 | $ 4,437,471 | |
Intuit, Inc. | 8,121 | 3,400,669 | |
Microsoft Corp.(2) | 73,375 | 20,363,030 | |
$ 28,201,170 | |||
Specialty Retail — 2.3% | |||
Lowe's Cos., Inc. | 24,544 | $ 4,853,085 | |
TJX Cos., Inc. (The) | 74,239 | 4,549,366 | |
$ 9,402,451 |
Security | Shares | Value | |
Technology Hardware, Storage & Peripherals — 3.1% | |||
Apple, Inc.(2) | 81,885 | $ 12,909,170 | |
$ 12,909,170 | |||
Textiles, Apparel & Luxury Goods — 2.4% | |||
adidas AG | 17,929 | $ 3,615,547 | |
LVMH Moet Hennessy Louis Vuitton SE | 9,720 | 6,290,153 | |
$ 9,905,700 | |||
Trading Companies & Distributors — 0.5% | |||
Ashtead Group PLC | 39,032 | $ 2,018,237 | |
$ 2,018,237 | |||
Wireless Telecommunication Services — 1.2% | |||
Tele2 AB, Class B | 249,493 | $ 3,306,851 | |
Vodafone Group PLC | 1,201,361 | 1,818,811 | |
$ 5,125,662 | |||
Total Common Stocks (identified cost $326,563,086) | $ 425,995,593 | ||
Corporate Bonds — 16.1% |
Security | Principal Amount (000's omitted)* | Value | |
Banks — 10.2% | |||
Banco Bilbao Vizcaya Argentaria S.A., 6.125% to 11/16/27(4)(5) | 1,400 | $ 1,303,750 | |
Banco Mercantil del Norte S.A./Grand Cayman: | |||
7.50% to 6/27/29(3)(4)(5) | 1,480 | 1,421,429 | |
7.625% to 1/10/28(3)(4)(5) | 380 | 376,897 | |
Bank of America Corp.: | |||
Series AA, 6.10% to 3/17/25(4)(5) | 1,445 | 1,461,256 | |
Series RR, 4.375% to 1/27/27(4)(5) | 2,075 | 1,841,563 | |
Barclays PLC, 7.75% to 9/15/23(4)(5) | 2,105 | 2,128,681 | |
BNP Paribas S.A., 4.625% to 2/25/31(3)(4)(5) | 2,537 | 2,143,638 | |
Citigroup, Inc., Series M, 6.30% to 5/15/24(4)(5) | 2,800 | 2,779,000 | |
Comerica, Inc., 5.625% to 7/1/25(4)(5) | 801 | 817,360 | |
Credit Suisse Group AG: | |||
5.10% to 1/24/30(3)(4)(5) | 1,000 | 867,500 | |
7.50% to 7/17/23(3)(4)(5) | 1,838 | 1,824,766 | |
Deutsche Bank AG, 7.125% to 4/30/26(4)(5)(6) | GBP | 1,000 | 1,228,864 |
HSBC Holdings PLC: | |||
4.60% to 12/17/30(4)(5) | 1,485 | 1,262,250 | |
6.00% to 5/22/27(4)(5) | 600 | 577,500 | |
ING Groep NV, 6.50% to 4/16/25(4)(5) | 2,945 | 2,944,411 |
Security | Principal Amount (000's omitted)* | Value | |
Banks (continued) | |||
JPMorgan Chase & Co.: | |||
Series KK, 3.65% to 6/1/26(4)(5) | 2,204 | $ 1,983,600 | |
Series X, 6.10% to 10/1/24(4)(5) | 960 | 962,616 | |
Lloyds Banking Group PLC, 7.50% to 6/27/24(4)(5) | 2,447 | 2,500,516 | |
Natwest Group PLC: | |||
4.60% to 6/28/31(4)(5) | 371 | 311,724 | |
8.00% to 8/10/25(4)(5) | 1,880 | 1,982,159 | |
Regions Financial Corp., Series D, 5.75% to 6/15/25(4)(5) | 1,240 | 1,267,900 | |
Societe Generale S.A.: | |||
4.75% to 5/26/26(3)(4)(5) | 1,189 | 1,058,667 | |
5.375% to 11/18/30(3)(4)(5) | 1,201 | 1,057,481 | |
Standard Chartered PLC, 4.75% to 1/14/31(3)(4)(5) | 2,304 | 1,977,120 | |
SVB Financial Group., Series C, 4.00% to 5/15/26(4)(5) | 2,007 | 1,747,997 | |
Truist Financial Corp., Series Q, 5.10% to 3/1/30(4)(5) | 621 | 621,776 | |
Unicaja Banco S.A., 4.875% to 11/18/26(4)(5)(6) | EUR | 400 | 367,460 |
UniCredit SpA, 7.296% to 4/2/29, 4/2/34(3)(5) | 1,385 | 1,400,676 | |
Wells Fargo & Co., Series BB, 3.90% to 3/15/26(4)(5) | 530 | 483,930 | |
Zions Bancorp NA, 5.80% to 6/15/23(4)(5) | 2,020 | 1,990,230 | |
$ 42,692,717 | |||
Capital Markets — 1.3% | |||
AerCap Holdings NV, 5.875% to 10/10/24, 10/10/79(5) | 965 | $ 906,096 | |
Charles Schwab Corp. (The), Series I, 4.00% to 6/1/26(4)(5) | 2,237 | 2,031,196 | |
UBS Group AG, 6.875% to 8/7/25(4)(5)(6) | 2,421 | 2,459,155 | |
$ 5,396,447 | |||
Diversified Financial Services — 0.7% | |||
American AgCredit Corp., Series QIB, 5.25% to 6/15/26(3)(4)(5) | 1,301 | $ 1,188,789 | |
Discover Financial Services, Series D, 6.125% to 6/23/25(4)(5) | 1,118 | 1,140,360 | |
Goldman Sachs Group, Inc. (The), Series V, 4.125% to 11/10/26(4)(5) | 373 | 334,980 | |
$ 2,664,129 | |||
Electric Utilities — 0.8% | |||
Dominion Energy, Inc., Series C, 4.35% to 1/15/27(4)(5) | 700 | $ 642,810 | |
Edison International, Series B, 5.00% to 12/15/26(4)(5) | 168 | 152,481 | |
Emera, Inc., Series 16-A, 6.75% to 6/15/26, 6/15/76(5) | 970 | 986,975 | |
Southern California Edison Co., Series E, 5.485%, (3 mo. USD LIBOR + 4.199%), 6/6/22(7) | 720 | 712,800 | |
Southern Co. (The), Series B, 4.00% to 10/15/25, 1/15/51(5) | 990 | 943,133 | |
$ 3,438,199 |
Security | Principal Amount (000's omitted)* | Value | |
Food Products — 0.5% | |||
Land O' Lakes, Inc., 8.00%(3)(4) | 2,085 | $ 2,197,121 | |
$ 2,197,121 | |||
Independent Power and Renewable Electricity Producers — 0.2% | |||
Algonquin Power & Utilities Corp., 4.75% to 1/18/27, 1/18/82(5) | 1,039 | $ 951,662 | |
$ 951,662 | |||
Insurance — 0.6% | |||
Liberty Mutual Group, Inc., 4.125% to 12/15/26, 12/15/51(3)(5) | 785 | $ 713,600 | |
Prudential Financial, Inc., 5.125% to 11/28/31, 3/1/52(5) | 546 | 531,834 | |
QBE Insurance Group, Ltd., 5.875% to 5/12/25(3)(4)(5) | 1,253 | 1,262,398 | |
$ 2,507,832 | |||
Multi-Utilities — 0.5% | |||
Centerpoint Energy, Inc., Series A, 6.125% to 9/1/23(4)(5) | 2,330 | $ 2,243,429 | |
$ 2,243,429 | |||
Oil, Gas & Consumable Fuels — 1.1% | |||
DCP Midstream, L.P., Series A, 7.375% to 12/15/22(4)(5) | 980 | $ 933,450 | |
EnLink Midstream Partners, L.P., Series C, 6.00% to 12/15/22(4)(5) | 1,727 | 1,281,261 | |
Odebrecht Oil & Gas Finance, Ltd., 0.00%(3)(4) | 1,757 | 7,468 | |
Plains All American Pipeline, L.P., Series B, 6.125% to 11/15/22(4)(5) | 2,595 | 2,186,288 | |
$ 4,408,467 | |||
Pipelines — 0.2% | |||
Energy Transfer, L.P., Series A, 6.25% to 2/15/23(4)(5) | 1,064 | $ 905,730 | |
$ 905,730 | |||
Total Corporate Bonds (identified cost $72,852,508) | $ 67,405,733 |
Exchange-Traded Funds — 1.5% |
Security | Shares | Value | |
Equity Funds — 1.5% | |||
Global X U.S. Preferred ETF | 144,775 | $ 3,145,961 | |
iShares Preferred & Income Securities ETF | 94,700 | 3,215,065 | |
Total Exchange-Traded Funds (identified cost $7,332,281) | $ 6,361,026 |
Preferred Stocks — 4.9% |
Security | Shares | Value | |
Banks — 1.4% | |||
AgriBank FCB, 6.875% to 1/1/24(5) | 16,581 | $ 1,745,150 | |
CoBank ACB, Series F, 6.25% to 10/1/22(5) | 16,600 | 1,676,600 | |
Farm Credit Bank of Texas, 6.75% to 9/15/23(3)(5) | 2,500 | 259,375 | |
First Republic Bank, Series M, 4.00% | 51,368 | 898,940 | |
JPMorgan Chase & Co., Series LL, 4.625% | 20,500 | 397,290 | |
Wells Fargo & Co., Series L, 7.50% (Convertible) | 889 | 1,077,015 | |
$ 6,054,370 | |||
Capital Markets — 0.5% | |||
Affiliated Managers Group, Inc., 4.75% | 18,675 | $ 367,897 | |
Stifel Financial Corp., Series D, 4.50% | 88,925 | 1,678,015 | |
$ 2,045,912 | |||
Electric Utilities — 0.4% | |||
SCE Trust III, Series H, 5.75% to 3/15/24(5) | 35,476 | $ 831,557 | |
SCE Trust IV, Series J, 5.375% to 9/15/25(5) | 14,476 | 315,577 | |
SCE Trust V, Series K, 5.45% to 3/15/26(5) | 27,041 | 645,469 | |
$ 1,792,603 | |||
Equity Real Estate Investment Trusts (REITs) — 0.3% | |||
SITE Centers Corp., Series A, 6.375% | 49,475 | $ 1,219,559 | |
$ 1,219,559 | |||
Food Products — 0.1% | |||
Ocean Spray Cranberries, Inc., Series A, 6.25%(3) | 6,085 | $ 535,480 | |
$ 535,480 | |||
Insurance — 0.5% | |||
American Equity Investment Life Holding Co., Series B, 6.625% to 9/1/25(5) | 45,133 | $ 1,168,493 | |
Athene Holding, Ltd., Series C, 6.375% to 6/30/25(5) | 29,083 | 767,210 | |
$ 1,935,703 | |||
Oil, Gas & Consumable Fuels — 0.6% | |||
NuStar Energy, L.P., Series B, 7.625% to 6/15/22(5) | 114,848 | $ 2,464,638 | |
$ 2,464,638 | |||
Pipelines — 0.4% | |||
Energy Transfer, L.P.: | |||
Series C, 7.375% to 5/15/23(5) | 44,000 | $ 1,045,880 | |
Series E, 7.60% to 5/15/24(5) | 19,280 | 466,576 | |
$ 1,512,456 |
Security | Shares | Value | |
Real Estate Management & Development — 0.5% | |||
Brookfield Property Partners, L.P.: | |||
Series A, 5.75% | 5,394 | $ 106,531 | |
Series A-1, 6.50% | 52,225 | 1,145,816 | |
Series A2, 6.375% | 34,695 | 731,718 | |
$ 1,984,065 | |||
Telecommunications — 0.2% | |||
United States Cellular Corp., 5.50% | 32,000 | $ 642,560 | |
$ 642,560 | |||
Total Preferred Stocks (identified cost $22,203,538) | $ 20,187,346 |
Short-Term Investments — 0.0%(8) |
Security | Shares | Value | |
Morgan Stanley Institutional Liquidity Funds - Government Portfolio, Institutional Class, 0.30%(9) | 161,332 | $ 161,332 | |
Total Short-Term Investments (identified cost $161,332) | $ 161,332 | ||
Total Investments — 124.3%(10) (identified cost $429,112,745) | $ 520,111,030 | ||
Other Assets, Less Liabilities — (24.3)% | $ (101,740,357) | ||
Net Assets — 100.0% | $ 418,370,673 |
The percentage shown for each investment category in the Portfolio of Investments is based on net assets. | |
* | In U.S. dollars unless otherwise indicated. |
(1) | Non-income producing security. |
(2) | All or a portion of this security was on loan at April 30, 2022 pursuant to the Liquidity Agreement (see Note 7). The aggregate market value of securities on loan at April 30, 2022 was $81,152,390. |
(3) | Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities may be sold in certain transactions in reliance on an exemption from registration (normally to qualified institutional buyers). At April 30, 2022, the aggregate value of these securities is $21,399,593 or 5.1% of the Fund's net assets. |
(4) | Perpetual security with no stated maturity date but may be subject to calls by the issuer. |
(5) | Security converts to variable rate after the indicated fixed-rate coupon period. |
(6) | Security exempt from registration under Regulation S of the Securities Act of 1933, as amended, which exempts from registration securities offered and sold outside the United States. Security may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act of 1933, as amended. At April 30, 2022, the aggregate value of these securities is $4,055,479 or 1.0% of the Fund's net assets. |
(7) | Variable rate security. The stated interest rate represents the rate in effect at April 30, 2022. |
(8) | Amount is less than 0.05%. |
(9) | May be deemed to be an affiliated investment company. The rate shown is the annualized seven-day yield as of April 30, 2022. |
(10) | The Fund has granted a security interest in all the Fund's investments, unless otherwise pledged, in connection with the Liquidity Agreement (see Note 7). |
Country Concentration of Portfolio | ||
Country | Percentage of Total Investments | Value |
United States | 51.2% | $266,086,455 |
United Kingdom | 9.3 | 48,594,987 |
France | 7.5 | 39,189,299 |
Switzerland | 7.1 | 36,713,110 |
Germany | 5.5 | 28,460,489 |
Netherlands | 3.5 | 18,416,604 |
Sweden | 3.1 | 15,870,807 |
Spain | 2.2 | 11,308,452 |
Japan | 1.7 | 8,781,071 |
Australia | 1.5 | 7,832,840 |
Denmark | 1.3 | 6,619,981 |
Canada | 1.2 | 6,286,654 |
Taiwan | 1.0 | 5,089,125 |
Ireland | 0.6 | 3,246,398 |
India | 0.5 | 2,807,433 |
Hong Kong | 0.4 | 1,959,093 |
Norway | 0.3 | 1,820,653 |
Mexico | 0.3 | 1,798,326 |
Finland | 0.3 | 1,460,083 |
Italy | 0.3 | 1,400,676 |
Brazil | 0.0 (1) | 7,468 |
Exchange-Traded Funds | 1.2 | 6,361,026 |
Total Investments | 100.0% | $520,111,030 |
(1) | Amount is less than 0.05%. |
Forward Foreign Currency Exchange Contracts (OTC) | |||||||
Currency Purchased | Currency Sold | Counterparty | Settlement Date | Unrealized Appreciation | Unrealized (Depreciation) | ||
USD | 112,365 | EUR | 100,000 | Bank of America, N.A. | 5/31/22 | $ 6,745 | $ — |
USD | 112,336 | EUR | 100,000 | Bank of America, N.A. | 5/31/22 | 6,717 | — |
USD | 101,072 | EUR | 90,000 | Bank of America, N.A. | 5/31/22 | 6,015 | — |
USD | 64,099 | EUR | 57,033 | State Street Bank and Trust Company | 5/31/22 | 3,861 | — |
USD | 56,149 | EUR | 50,000 | State Street Bank and Trust Company | 5/31/22 | 3,340 | — |
USD | 1,494,875 | GBP | 1,117,863 | State Street Bank and Trust Company | 5/31/22 | 89,245 | — |
$115,923 | $ — |
Futures Contracts | |||||
Description | Number of Contracts | Position | Expiration Date | Notional Amount | Value/Unrealized Appreciation (Depreciation) |
Equity Futures | |||||
E-Mini S&P 500 Index | 89 | Long | 6/17/22 | $ 18,367,375 | $ (307,490) |
STOXX Europe 600 Index | (446) | Short | 6/17/22 | (10,487,619) | (365,938) |
STOXX Europe 600 Insurance Index | (499) | Short | 6/17/22 | (8,120,031) | 211,508 |
$ (461,920) |
Abbreviations: | |
ADR | – American Depositary Receipt |
LIBOR | – London Interbank Offered Rate |
OTC | – Over-the-counter |
PC | – Participation Certificate |
Currency Abbreviations: | |
EUR | – Euro |
GBP | – British Pound Sterling |
USD | – United States Dollar |
April 30, 2022 | |
Assets | |
Unaffiliated investments, at value (identified cost $428,951,413) — including $81,152,390 of securities on loan | $ 519,949,698 |
Affiliated investment, at value (identified cost $161,332) | 161,332 |
Cash | 145,554 |
Foreign currency, at value (identified cost $235,519) | 236,111 |
Dividends and interest receivable | 2,267,845 |
Dividends receivable from affiliated investment | 98 |
Receivable for investments sold | 179,470 |
Receivable for open forward foreign currency exchange contracts | 115,923 |
Tax reclaims receivable | 597,574 |
Total assets | $523,653,605 |
Liabilities | |
Liquidity Agreement borrowings | $ 103,000,000 |
Payable for investments purchased | 786,625 |
Payable for variation margin on open futures contracts | 810,210 |
Payable to affiliates: | |
Investment adviser fee | 386,074 |
Trustees' fees | 2,615 |
Accrued foreign capital gains taxes | 70,609 |
Accrued expenses | 226,799 |
Total liabilities | $105,282,932 |
Net Assets | $418,370,673 |
Sources of Net Assets | |
Common shares, $0.01 par value, unlimited number of shares authorized | $ 163,715 |
Additional paid-in capital | 326,028,240 |
Distributable earnings | 92,178,718 |
Net Assets | $418,370,673 |
Common Shares Issued and Outstanding | 16,371,459 |
Net Asset Value Per Common Share | |
Net assets ÷ common shares issued and outstanding | $ 25.55 |
Six Months Ended | |
April 30, 2022 | |
Investment Income | |
Dividend income (net of foreign taxes withheld of $721,653) | $ 7,248,428 |
Dividend income from affiliated investment | 1,432 |
Interest income | 1,793,573 |
Other income | 283,053 |
Total investment income | $ 9,326,486 |
Expenses | |
Investment adviser fee | $ 2,464,137 |
Trustees’ fees and expenses | 15,684 |
Custodian fee | 95,013 |
Transfer and dividend disbursing agent fees | 9,124 |
Legal and accounting services | 39,785 |
Printing and postage | 82,705 |
Interest expense and fees | 370,122 |
Miscellaneous | 27,071 |
Total expenses | $ 3,103,641 |
Deduct: | |
Waiver and/or reimbursement of expenses by affiliate | $ 45 |
Total expense reductions | $ 45 |
Net expenses | $ 3,103,596 |
Net investment income | $ 6,222,890 |
Realized and Unrealized Gain (Loss) | |
Net realized gain (loss): | |
Investment transactions | $ 10,644,069 |
Investment transactions - affiliated investment | 863,570 |
Proceeds from securities litigation settlements | 11,705 |
Futures contracts | (569,025) |
Foreign currency transactions | 5,080 |
Net realized gain | $ 10,955,399 |
Change in unrealized appreciation (depreciation): | |
Investments (including net increase in accrued foreign capital gains taxes of $70,609) | $ (93,727,945) |
Investments - affiliated investment | (554,211) |
Futures contracts | (461,920) |
Foreign currency | (55,965) |
Forward foreign currency exchange contracts | 115,923 |
Net change in unrealized appreciation (depreciation) | $(94,684,118) |
Net realized and unrealized loss | $(83,728,719) |
Net decrease in net assets from operations | $(77,505,829) |
Six Months Ended April 30, 2022 (Unaudited) | Year Ended October 31, 2021 | |
Increase (Decrease) in Net Assets | ||
From operations: | ||
Net investment income | $ 6,222,890 | $ 7,405,992 |
Net realized gain | 10,955,399 | 22,983,200 |
Net change in unrealized appreciation (depreciation) | (94,684,118) | 138,609,052 |
Net increase (decrease) in net assets from operations | $ (77,505,829) | $168,998,244 |
Distributions to shareholders | $ (17,455,693) | $ (28,655,436) |
Capital share transactions: | ||
Proceeds from shelf offering, net of offering costs (see Note 5) | $ 9,121,556 | $ 12,092,982 |
Reinvestment of distributions | 395,283 | 226,214 |
Net increase in net assets from capital share transactions | $ 9,516,839 | $ 12,319,196 |
Net increase (decrease) in net assets | $ (85,444,683) | $152,662,004 |
Net Assets | ||
At beginning of period | $ 503,815,356 | $ 351,153,352 |
At end of period | $418,370,673 | $503,815,356 |
Six Months Ended | |
April 30, 2022 | |
Cash Flows From Operating Activities | |
Net decrease in net assets from operations | $ (77,505,829) |
Adjustments to reconcile net decrease in net assets from operations to net cash provided by operating activities: | |
Investments purchased | (129,553,633) |
Investments sold | 130,893,204 |
Decrease in short-term investments, net | 2,058,591 |
Net amortization/accretion of premium (discount) | 213,696 |
Increase in dividends and interest receivable | (1,203,294) |
Decrease in dividends receivable from affiliated investments | 81,235 |
Increase in receivable for open forward foreign currency exchange contracts | (115,923) |
Decrease in receivable from the transfer agent | 76,386 |
Increase in tax reclaims receivable | (217,133) |
Increase in payable for variation margin on open futures contracts | 810,210 |
Decrease in payable to affiliate for investment adviser fee | (40,852) |
Increase in payable to affiliate for Trustees' fees | 306 |
Decrease in accrued expenses | (85,005) |
Net change in unrealized (appreciation) depreciation from investments | 94,282,156 |
Net realized gain from investments | (11,507,639) |
Net cash provided by operating activities | $ 8,186,476 |
Cash Flows From Financing Activities | |
Cash distributions paid | $ (17,060,410) |
Proceeds from shelf offering, net of offering costs | 9,251,186 |
Net cash used in financing activities | $ (7,809,224) |
Net increase in cash | $ 377,252 |
Cash at beginning of period (including foreign currency) | $ 4,413 |
Cash at end of period (including foreign currency) | $ 381,665 |
Supplemental disclosure of cash flow information: | |
Noncash financing activities not included herein consist of: | |
Reinvestment of dividends and distributions | $ 395,283 |
Cash paid for interest and fees on borrowings | 342,265 |
Six Months Ended April 30, 2022 (Unaudited) | Year Ended October 31, | |||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net asset value — Beginning of period | $ 31.370 | $ 22.390 | $ 23.850 | $ 22.180 | $ 24.600 | $ 21.790 |
Income (Loss) From Operations | ||||||
Net investment income(1) | $ 0.384 | $ 0.471 | $ 0.361 | $ 0.441 | $ 0.447 | $ 0.490 |
Net realized and unrealized gain (loss) | (5.144) | 10.303 | 0.098 | 3.389 | (0.724) | 4.480 |
Total income (loss) from operations | $ (4.760) | $ 10.774 | $ 0.459 | $ 3.830 | $ (0.277) | $ 4.970 |
Less Distributions | ||||||
From net investment income | $ (1.075)* | $ (0.846) | $ (0.338) | $ (0.407) | $ (0.319) | $ (0.475) |
From net realized gain | — | (0.974) | (1.597) | (1.753) | (1.841) | (1.685) |
Total distributions | $ (1.075) | $ (1.820) | $ (1.935) | $ (2.160) | $ (2.160) | $ (2.160) |
Premium from common shares sold through shelf offering (see Note 5)(1) | $ 0.015 | $ 0.026 | $ 0.016 | $ — | $ 0.017 | $ — |
Net asset value — End of period | $ 25.550 | $ 31.370 | $ 22.390 | $ 23.850 | $ 22.180 | $ 24.600 |
Market value — End of period | $ 24.590 | $ 32.340 | $ 19.740 | $ 26.290 | $ 21.690 | $ 24.850 |
Total Investment Return on Net Asset Value(2) | (15.47)% (3) | 49.45% | 2.57% | 18.21% | (1.50)% | 23.92% |
Total Investment Return on Market Value(2) | (21.08)% (3) | 74.75% | (17.96)% | 33.25% | (4.65)% | 31.96% |
Ratios/Supplemental Data | ||||||
Net assets, end of period (000’s omitted) | $418,371 | $503,815 | $351,153 | $359,796 | $333,771 | $357,756 |
Ratios (as a percentage of average daily net assets): | ||||||
Expenses excluding interest and fees | 1.15% (4)(5) | 1.15% | 1.24% | 1.28% | 1.27% | 1.30% |
Interest and fee expense | 0.15% (4) | 0.14% | 0.50% | 1.06% | 0.82% | 0.61% |
Total expenses | 1.30% (4)(5) | 1.29% | 1.74% | 2.34% | 2.09% | 1.91% |
Net investment income | 2.61% (4) | 1.63% | 1.58% | 1.95% | 1.83% | 2.10% |
Portfolio Turnover | 22% (3) | 29% | 60% | 48% | 56% | 60% |
Senior Securities: | ||||||
Total amount outstanding (in 000’s) | $103,000 | $103,000 | $103,000 | $118,000 | $118,000 | $118,000 |
Asset coverage per $1,000(6) | $ 5,062 | $ 5,891 | $ 4,409 | $ 4,049 | $ 3,829 | $ 4,032 |
(1) | Computed using average shares outstanding. |
(2) | Returns are historical and are calculated by determining the percentage change in net asset value or market value with all distributions reinvested. Distributions are assumed to be reinvested at prices obtained under the Fund’s dividend reinvestment plan. |
(3) | Not annualized. |
(4) | Annualized. |
(5) | The investment adviser reduced a portion of its adviser fee (equal to less than 0.005% of average daily net assets for the six months ended April 30, 2022). |
(6) | Calculated by subtracting the Fund’s total liabilities (not including the borrowings payable/notes payable) from the Fund’s total assets, and dividing the result by the borrowings payable/notes payable balance in thousands. |
* | A portion of the distributions may be deemed from net realized gain or a tax return of capital at year-end. |
Aggregate cost | $ 429,503,891 |
Gross unrealized appreciation | $ 113,096,585 |
Gross unrealized depreciation | (22,835,443) |
Net unrealized appreciation | $ 90,261,142 |
Fair Value | |||
Risk | Derivative | Asset Derivative | Liability Derivative |
Equity Price | Futures contracts | $ 211,508(1) | $ (673,428)(1) |
Foreign Exchange | Forward foreign currency exchange contracts | 115,923 (2) | — |
Total | $327,431 | $(673,428) | |
Derivatives not subject to master netting or similar agreements | $211,508 | $(673,428) | |
Total Derivatives subject to master netting or similar agreements | $115,923 | $ — |
(1) | Only the current day's variation margin on open futures contracts is reported within the Statement of Assets and Liabilities as Receivable or Payable for variation margin on open futures contracts, as applicable. |
(2) | Statement of Assets and Liabilities location: Receivable for open forward foreign currency exchange contracts. |
Counterparty | Derivative Assets Subject to Master Netting Agreement | Derivatives Available for Offset | Non-cash Collateral Received(a) | Cash Collateral Received(a) | Net Amount of Derivative Assets(b) |
Bank of America, N.A. | $ 19,477 | $ — | $ — | $ — | $ 19,477 |
State Street Bank and Trust Company | 96,446 | — | — | — | 96,446 |
$115,923 | $ — | $ — | $ — | $115,923 |
(a) | In some instances, the total collateral received and/or pledged may be more than the amount shown due to overcollateralization. |
(b) | Net amount represents the net amount due from the counterparty in the event of default. |
Risk | Derivative | Realized Gain (Loss) on Derivatives Recognized in Income(1) | Change in Unrealized Appreciation (Depreciation) on Derivatives Recognized in Income(2) |
Equity Price | Futures contracts | $ (569,025) | $ (461,920) |
Foreign Exchange | Forward foreign currency exchange contracts | — | 115,923 |
Total | $(569,025) | $(345,997) |
(1) | Statement of Operations location: Net realized gain (loss): Futures contracts and Forward foreign currency exchange contracts, respectively. |
(2) | Statement of Operations location: Change in unrealized appreciation (depreciation): Futures contracts and Forward foreign currency exchange contracts, respectively. |
Futures Contracts — Long | Futures Contracts — Short | Forward Foreign Currency Exchange Contracts* |
$7,171,000 | $7,184,000 | $1,132,000 |
* | The average notional amount for forward foreign currency exchange contracts is based on the absolute value of notional amounts of currency purchased and currency sold. |
Name | Value, beginning of period | Purchases | Sales proceeds | Net realized gain (loss) | Change in unrealized appreciation (depreciation) | Value, end of period | Dividend income | Units/Shares, end of period |
Common Stocks | ||||||||
Mitsubishi UFJ Financial Group, Inc. | $4,100,508 | $ — | $ (4,409,903) | $ 863,606 | $ (554,211) | $ — | $ — | — |
Short-Term Investments | ||||||||
Cash Reserves Fund | 2,219,959 | 44,960,150 | (47,180,073) | (36) | — | — | 1,334 | — |
Liquidity Fund | — | 4,605,636 | (4,444,304) | — | — | 161,332 | 98 | 161,332 |
Total | $863,570 | $(554,211) | $161,332 | $1,432 |
• | Level 1 – quoted prices in active markets for identical investments |
• | Level 2 – other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.) |
• | Level 3 – significant unobservable inputs (including a fund's own assumptions in determining the fair value of investments) |
Asset Description | Level 1 | Level 2 | Level 3 | Total |
Common Stocks: | ||||
Communication Services | $ 27,263,449 | $ 10,105,398 | $ — | $ 37,368,847 |
Consumer Discretionary | 21,373,245 | 28,343,501 | — | 49,716,746 |
Consumer Staples | 14,912,037 | 13,627,810 | — | 28,539,847 |
Energy | 13,924,768 | — | — | 13,924,768 |
Financials | 25,693,624 | 35,768,486 | — | 61,462,110 |
Health Care | 28,861,685 | 33,933,391 | — | 62,795,076 |
Industrials | 16,316,303 | 36,473,294 | — | 52,789,597 |
Information Technology | 68,161,205 | 25,341,603 | — | 93,502,808 |
Materials | — | 13,964,551 | — | 13,964,551 |
Real Estate | 3,110,401 | — | — | 3,110,401 |
Utilities | 5,122,757 | 3,698,085 | — | 8,820,842 |
Total Common Stocks | $ 224,739,474 | $201,256,119* | $ — | $ 425,995,593 |
Corporate Bonds | $ — | $ 67,405,733 | $ — | $ 67,405,733 |
Exchange-Traded Funds | 6,361,026 | — | — | 6,361,026 |
Asset Description (continued) | Level 1 | Level 2 | Level 3 | Total |
Preferred Stocks: | ||||
Communication Services | $ 642,560 | $ — | $ — | $ 642,560 |
Consumer Staples | — | 535,480 | — | 535,480 |
Energy | 3,977,094 | — | — | 3,977,094 |
Financials | 6,354,860 | 3,681,125 | — | 10,035,985 |
Real Estate | 3,203,624 | — | — | 3,203,624 |
Utilities | 1,792,603 | — | — | 1,792,603 |
Total Preferred Stocks | $ 15,970,741 | $ 4,216,605 | $ — | $ 20,187,346 |
Short-Term Investments | $ 161,332 | $ — | $ — | $ 161,332 |
Total Investments | $ 247,232,573 | $272,878,457 | $ — | $ 520,111,030 |
Forward Foreign Currency Exchange Contracts | $ — | $ 115,923 | $ — | $ 115,923 |
Futures Contracts | 211,508 | — | — | 211,508 |
Total | $ 247,444,081 | $272,994,380 | $ — | $ 520,438,461 |
Liability Description | ||||
Futures Contracts | $ (673,428) | $ — | $ — | $ (673,428) |
Total | $ (673,428) | $ — | $ — | $ (673,428) |
* | Includes foreign equity securities whose values were adjusted to reflect market trading of comparable securities or other correlated instruments that occurred after the close of trading in their applicable foreign markets. |
Number of Shares | ||||
Nominees for Trustee | For | Withheld | ||
George J. Gorman | 12,586,937 | 188,550 | ||
Helen Frame Peters | 12,504,714 | 270,773 | ||
Marcus L. Smith | 12,580,684 | 194,803 | ||
Susan J. Sutherland | 12,567,256 | 208,231 |
Officers | |
Edward J. Perkin President | Jill R. Damon Secretary |
Deidre E. Walsh Vice President and Chief Legal Officer | Richard F. Froio Chief Compliance Officer |
James F. Kirchner Treasurer |
Trustees |
George J. Gorman Chairperson | |
Thomas E. Faust Jr.* | |
Mark R. Fetting | |
Cynthia E. Frost | |
Valerie A. Mosley | |
William H. Park |
Helen Frame Peters | |
Keith Quinton | |
Marcus L. Smith | |
Susan J. Sutherland | |
Scott E. Wennerholm | |
Nancy A. Wiser** |
* | Interested Trustee |
** | Ms. Wiser began serving as a Trustee effective April 4, 2022. |
Privacy Notice | April 2021 |
FACTS | WHAT DOES EATON VANCE DO WITH YOUR PERSONAL INFORMATION? |
Why? | Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do. |
What? | The types of personal information we collect and share depend on the product or service you have with us. This information can include:■ Social Security number and income ■ investment experience and risk tolerance ■ checking account number and wire transfer instructions |
How? | All financial companies need to share customers’ personal information to run their everyday business. In the section below, we list the reasons financial companies can share their customers’ personal information; the reasons Eaton Vance chooses to share; and whether you can limit this sharing. |
Reasons we can share your personal information | Does Eaton Vance share? | Can you limit this sharing? |
For our everyday business purposes — such as to process your transactions, maintain your account(s), respond to court orders and legal investigations, or report to credit bureaus | Yes | No |
For our marketing purposes — to offer our products and services to you | Yes | No |
For joint marketing with other financial companies | No | We don’t share |
For our investment management affiliates’ everyday business purposes — information about your transactions, experiences, and creditworthiness | Yes | Yes |
For our affiliates’ everyday business purposes — information about your transactions and experiences | Yes | No |
For our affiliates’ everyday business purposes — information about your creditworthiness | No | We don’t share |
For our investment management affiliates to market to you | Yes | Yes |
For our affiliates to market to you | No | We don’t share |
For nonaffiliates to market to you | No | We don’t share |
To limit our sharing | Call toll-free 1-800-262-1122 or email: EVPrivacy@eatonvance.comPlease note:If you are a new customer, we can begin sharing your information 30 days from the date we sent this notice. When you are no longer our customer, we continue to share your information as described in this notice. However, you can contact us at any time to limit our sharing. |
Questions? | Call toll-free 1-800-262-1122 or email: EVPrivacy@eatonvance.com |
Privacy Notice — continued | April 2021 |
Who we are | |
Who is providing this notice? | Eaton Vance Management, Eaton Vance Distributors, Inc., Eaton Vance Trust Company, Eaton Vance Management (International) Limited, Eaton Vance Advisers International Ltd., Eaton Vance Global Advisors Limited, Eaton Vance Management’s Real Estate Investment Group, Boston Management and Research, Calvert Research and Management, Eaton Vance and Calvert Fund Families and our investment advisory affiliates (“Eaton Vance”) (see Investment Management Affiliates definition below) |
What we do | |
How does Eaton Vance protect my personal information? | To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. These measures include computer safeguards and secured files and buildings. We have policies governing the proper handling of customer information by personnel and requiring third parties that provide support to adhere to appropriate security standards with respect to such information. |
How does Eaton Vance collect my personal information? | We collect your personal information, for example, when you■ open an account or make deposits or withdrawals from your account ■ buy securities from us or make a wire transfer ■ give us your contact informationWe also collect your personal information from others, such as credit bureaus, affiliates, or other companies. |
Why can’t I limit all sharing? | Federal law gives you the right to limit only■ sharing for affiliates’ everyday business purposes — information about your creditworthiness ■ affiliates from using your information to market to you ■ sharing for nonaffiliates to market to youState laws and individual companies may give you additional rights to limit sharing. See below for more on your rights under state law. |
Definitions | |
Investment Management Affiliates | Eaton Vance Investment Management Affiliates include registered investment advisers, registered broker- dealers, and registered and unregistered funds. Investment Management Affiliates does not include entities associated with Morgan Stanley Wealth Management, such as Morgan Stanley Smith Barney LLC and Morgan Stanley & Co. |
Affiliates | Companies related by common ownership or control. They can be financial and nonfinancial companies.■ Our affiliates include companies with a Morgan Stanley name and financial companies such as Morgan Stanley Smith Barney LLC and Morgan Stanley & Co. |
Nonaffiliates | Companies not related by common ownership or control. They can be financial and nonfinancial companies.■ Eaton Vance does not share with nonaffiliates so they can market to you. |
Joint marketing | A formal agreement between nonaffiliated financial companies that together market financial products or services to you.■ Eaton Vance doesn’t jointly market. |
Other important information | |
Vermont: Except as permitted by law, we will not share personal information we collect about Vermont residents with Nonaffiliates unless you provide us with your written consent to share such information.California: Except as permitted by law, we will not share personal information we collect about California residents with Nonaffiliates and we will limit sharing such personal information with our Affiliates to comply with California privacy laws that apply to us. |
Two International Place
Boston, MA 02110
125 Old Broad Street
London, EC2N 1AR
United Kingdom
State Street Financial Center, One Lincoln Street
Boston, MA 02111
6201 15th Avenue
Brooklyn, NY 11219
Boston, MA 02110
Item 2. Code of Ethics
Not required in this filing.
Item 3. Audit Committee Financial Expert
Not required in this filing.
Item 4. Principal Accountant Fees and Services
Not required in this filing.
Item 5. Audit Committee of Listed Registrants
Not required in this filing.
Item 6. Schedule of Investments
Please see schedule of investments contained in the Report to Stockholders included under Item 1 of this Form N-CSR.
Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies
Not required in this filing.
Item 8. Portfolio Managers of Closed-End Management Investment Companies
Not required in this filing.
Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers
No such purchases this period.
Item 10. Submission of Matters to a Vote of Security Holders
No material changes.
Item 11. Controls and Procedures
(a) It is the conclusion of the registrant’s principal executive officer and principal financial officer that the effectiveness of the registrant’s current disclosure controls and procedures (such disclosure controls and procedures having been evaluated within 90 days of the date of this filing) provide reasonable assurance that the information required to be disclosed by the registrant has been recorded, processed, summarized and reported within the time period specified in the Commission’s rules and forms and that the information required to be disclosed by the registrant has been accumulated and communicated to the registrant’s principal executive officer and principal financial officer in order to allow timely decisions regarding required disclosure.
(b) There have been no changes in the registrant’s internal controls over financial reporting during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.
Item 12. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies
No activity to report for the Registrant’s most recent fiscal year end.
Item 13. Exhibits
(a)(1) | Registrant’s Code of Ethics – Not applicable (please see Item 2). | |
(a)(2)(i) | Treasurer’s Section 302 certification. | |
(a)(2)(ii) | President’s Section 302 certification. | |
(b) | Combined Section 906 certification. | |
(c) | Registrant’s notices to shareholders pursuant to Registrant’s exemptive order granting an exemption from Section 19(b) of the 1940 Act and Rule 19b-1 thereunder regarding distributions paid pursuant to the Registrant’s Managed Distribution Plan. |
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Eaton Vance Tax-Advantaged Global Dividend Opportunities Fund
By: | /s/ Edward J. Perkin | |
Edward J. Perkin | ||
President | ||
Date: | June 23, 2022 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By: | /s/ James F. Kirchner | |
James F. Kirchner | ||
Treasurer | ||
Date: | June 23, 2022 | |
By: | /s/ Edward J. Perkin | |
Edward J. Perkin | ||
President | ||
Date: | June 23, 2022 |