Eaton Vance Insured California Municipal Bond Fund Report of Earnings
13 3월 2009 - 4:05AM
PR Newswire (US)
BOSTON, March 12 /PRNewswire-FirstCall/ -- Eaton Vance Insured
California Municipal Bond Fund (NYSE Alternext US: EVM), a
closed-end investment company, today announced the earnings of the
Fund for the three months ended December 31, 2008. The Fund's
fiscal year ends on September 30, 2009. For the three months ended
December 31, 2008, the Fund had net investment income of $3,905,327
($0.180 per common share). In comparison, for the three months
ended December 31, 2007, the Fund had net investment income of
$5,468,836 ($0.253 per common share). From this amount, the Fund
paid dividends on preferred shares of $341,457 (equal to $0.016 for
each common share), resulting in net investment income after the
preferred dividends of $5,127,379, or $0.237 per common share. Net
realized and unrealized losses for the three months ended December
31, 2008 were $36,362,611 ($1.678 per common share). In comparison,
net realized and unrealized losses for the three months ended
December 31, 2007 were $10,426,891 ($0.482 per common share). On
December 31, 2008, net assets of the Fund were $208,677,564. The
net asset value per share on December 31, 2008 was $9.63 based on
21,672,762 shares outstanding. In comparison, on December 31, 2007,
net assets of the Fund applicable to common shares were
$308,386,406. The net asset value per common share on December 31,
2007 was $14.25 based on 21,640,290 common shares outstanding. The
Fund is managed by Eaton Vance Management, a subsidiary of Eaton
Vance Corp. (NYSE:EV), based in Boston, one of the oldest
investment management firms in the United States, with a history
dating back to 1924. Eaton Vance and its affiliates managed $121.9
billion in assets as of January 31, 2009, offering individuals and
institutions a broad array of investment products and wealth
management solutions. The Company's long record of providing
exemplary service and attractive returns through a variety of
market conditions has made Eaton Vance the investment manager of
choice for many of today's most discerning investors. For more
information about Eaton Vance, visit http://www.eatonvance.com/.
EATON VANCE INSURED CALIFORNIA MUNICIPAL BOND FUND SUMMARY OF
RESULTS OF OPERATIONS (in thousands, except per share amounts)
Three Three Months Months Ended Ended December 31, December 31,
----------- ----------- 2008 2007 ---- ---- Net investment income
$3,905 $5,469 Net realized and unrealized gains (losses) on
investments (36,363) (10,427) Preferred dividends paid from net
investment income (1) - (341) Preferred dividends paid from net
realized gains (1) - (1,906) ------ ------ Net increase (decrease)
in net assets from operations $(32,458) $(7,205) ======== =======
Earnings per Common Share Outstanding
------------------------------------- Net investment income $0.180
$0.253 Net realized and unrealized gains (losses) on investments
(1.678) (0.482) Preferred dividends paid from net investment income
(1) - (0.016) Preferred dividends paid from net realized gains (1)
- (0.088) ------ ------ Net increase (decrease) in net assets from
operations $(1.498) $(0.333) ======= ======= Net investment income
$0.180 $0.253 Preferred dividends paid from net investment income
(1) - (0.016) ------ ------ Net investment income after preferred
dividends $0.180 $0.237 ====== ====== Net Asset Value at December
31 (Common Shares) ----------------------------------------------
Net assets $208,678 $308,386 Shares outstanding 21,673 21,640 Net
asset value per share outstanding $9.63 $14.25 Market Value Summary
(Common Shares) ------------------------------------ Market price
on NYSE Alternext US at December 31 $8.00 $13.60 High market price
(period ended December 31) $11.60 $14.85 Low market price (period
ended December 31) $6.41 $13.40 (1) Beginning in May 2008 through
August 2008, the Fund redeemed in full each series of its Auction
Preferred Shares. DATASOURCE: Eaton Vance Management CONTACT:
Investor Contact of Eaton Vance Management, +1-800-262-1122 Web
Site: http://www.eatonvance.com/
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