EV CLASSIC TAX-MANAGED GROWTH FUND
EV MARATHON TAX-MANAGED GROWTH FUND
EV TRADITIONAL TAX-MANAGED GROWTH FUND
SUPPLEMENT TO PROSPECTUSES DATED FEBRUARY 1, 1997
EV CLASSIC STRATEGIC INCOME FUND
EV MARATHON STRATEGIC INCOME FUND
SUPPLEMENT TO PROSPECTUSES DATED MARCH 3, 1997
1. For EV MARATHON STRATEGIC INCOME FUND, effective August 1, 1997, under the
table "Shareholder and Fund Expenses" the maximum contingent deferred sales
charge ("CDSC") is 5%. As a result, in the EXAMPLE section of the table the
expenses paid by a shareholder would be slightly higher.
Effective for shares purchased August 1, 1997 or thereafter, (a) sales
commissions paid to Authorized Firms at the time of sale will equal 4% of the
purchase price of the shares sold by such Firm and (b) the following contingent
deferred charge schedule will replace the existing schedule under the section
"How to Redeem Fund Shares":
Year of Redemption
After Purchase CDSC
-------------- ----
First or Second 5%
Third 4%
Fourth 3%
Fifth 2%
Sixth 1%
Seventh and following 0%
No CDSC is imposed on exchanges. For purposes of calculating the CDSC
upon redemption of Fund shares acquired in an exchange for shares of a fund
currently listed under "The Eaton Vance Exchange Privilege", the CDSC schedule
applicable to the shares at the time of purchase will apply.
2. As of July 14, 1997, the Strategic Income Funds began investing part of their
assets in the High Income Portfolio, as described in each Fund's prospectus.
3. For EV TRADITIONAL TAX-MANAGED GROWTH FUND, effective August 1, 1997, no
contingent deferred sales charge will be assessed on redemptions in accounts
established through a tax-free conversion of a common trust fund in which equity
securities were contributed to the Fund.
4. For EV TRADITIONAL TAX-MANAGED GROWTH FUND, effective September 1, 1997,
under the table "Shareholder and Fund Expenses" the Maximum Sales Charge Imposed
on Purchases is 5.75%. As a result, in the EXAMPLE section of the table the
expenses paid by a shareholder would be slightly higher.
5. For EV TRADITIONAL TAX-MANAGED GROWTH FUND, effective September 1, 1997, the
sales charge table under "How to Buy Fund Shares" is replaced (except for the
footnotes) with the following:
<PAGE>
<TABLE>
Sales Charge Sales Charge Dealer Commission
as Percentage of as Percentage of as Percentage of
Amount of Purchase Offering Price Amount Invested Offering Price
- -----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Less than $50,000 5.75% 6.10% 5.00%
$50,000 but less than $100,000 4.75 4.99 4.00
$100,000 but less than $250,000 3.75 3.90 3.00
$250,000 but less than $500,000 3.00 3.09 2.50
$500,000 but less than $1,000,000 2.00 2.04 1.75
$1,000,000 or more 0.00* 0.00* See Below**
</TABLE>
6. Effective November 1, 1997, the Trustees have approved a restructuring of the
Funds whereby each Fund would become a separate class of the same series. It is
anticipated that this restructuring will reduce Fund expenses. In connection
with the restructuring, the existing "Classic" Fund will become "Class C"
shares, the "Marathon" Funds will become "Class B" shares and the "Traditional"
Fund will become "Class A" shares, respectively, of the following funds:
EATON VANCE TAX-MANAGED GROWTH FUND
EATON VANCE STRATEGIC INCOME FUND
The conversion to the multiple-class structure will not be a taxable
transaction, change the value or cost basis of existing shareholders'
investments, or change fund net asset values per share. Likewise, the conversion
will not materially change shareholder voting rights. It is possible that some
shareholders could, in the future, receive different distributions of realized
capital gains than would be the case if the restructuring did not occur. This
result could occur because allocation of a Portfolio's current unrealized
capital gains will be different under multiple-class accounting rules than has
been the case under the partnership accounting rules of the current structure.
The actual realization of capital gains in the future remains uncertain and
depends not only on the investment adviser's decisions but also on the
fluctuating market valuation of specific securities. Because capital gains
distributions reduce the net asset value of a fund's shares, the effect of such
a distribution change would be to alter current tax obligations and tax
obligations upon redemption (by the same amount).
July 31, 1997 TGSI11/1PS
<PAGE>
EV CLASSIC GOVERNMENT OBLIGATIONS FUND
EV MARATHON GOVERNMENT OBLIGATIONS FUND
EV TRADITIONAL GOVERNMENT OBLIGATIONS FUND
SUPPLEMENT TO PROSPECTUSES DATED MAY 1, 1997
1. Effective September 1, 1997, for EV TRADITIONAL GOVERNMENT OBLIGATIONS FUND
under the table "Shareholder and Fund Expenses" the Maximum Sales Charge Imposed
on Purchases is 4.75%. As a result, in the EXAMPLE section of the table the
expenses paid by a shareholder would be slightly higher.
2. Effective September 1, 1997, for EV TRADITIONAL GOVERNMENT OBLIGATIONS FUND
the sales charge table under "How to Buy Fund Shares" is replaced (except for
the footnotes) with the following:
<TABLE>
Sales Charge Sales Charge Dealer Commission
as Percentage of as Percentage of as Percentage of
Amount of Purchase Offering Price Amount Invested Offering Price
- -----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Less than $25,000 4.75% 4.99% 4.50%
$25,000 but less than $100,000 4.50 4.71 4.25
$100,000 but less than $250,000 3.75 3.90 3.50
$250,000 but less than $500,000 3.00 3.09 2.75
$500,000 but less than $1,000,000 2.00 2.04 2.00
$1,000,000 or more 0.00* 0.00* See Below**
</TABLE>
3. Effective January 1, 1998, the Trustees have approved a restructuring of the
Funds whereby each Fund would become a separate class of the same series. It is
anticipated that this restructuring will reduce Fund expenses. In connection
with the restructuring, the existing "Classic" Fund will become "Class C"
shares, the "Marathon" Fund will become "Class B" shares and the "Traditional"
Fund will become "Class A" shares, respectively, of the following fund:
EATON VANCE GOVERNMENT OBLIGATIONS FUND
The conversion to the multiple-class structure will not be a taxable
transaction, change the value or cost basis of existing shareholders'
investments, or change fund net asset values per share. Likewise, the conversion
will not materially change shareholder voting rights. It is possible that some
shareholders could, in the future, receive different distributions of realized
capital gains than would be the case if the restructuring did not occur. This
result could occur because allocation of the Portfolio's current unrealized
capital gains will be different under multiple-class accounting rules than has
been the case under the partnership accounting rules of the current structure.
The actual realization of capital gains in the future remains uncertain and
depends not only on the investment adviser's decisions but also on the
fluctuating market valuation of specific securities. Because capital gains
distributions reduce the net asset value of a fund's shares, the effect of such
a distribution change would be to alter current tax obligations and tax
obligations upon redemption (by the same amount).
July 31, 1997 GO1/1PS
