Eaton Vance Tax-Managed Growth Fund
Supplement to Prospectus dated March 1, 1999
Eaton Vance Tax-Managed Emerging Growth Fund
Eaton Vance Tax-Managed International Growth Fund
Supplement to Prospectus dated March 1, 1999
1. The address of the Fund and Eaton Vance Management (including its
affiliates) is as follows:
The Eaton Vance Building
255 State Street
Boston, MA 02109
Telephone numbers remain the same.
2. Service fees will now be paid from the time of sale of Class A and Class B
shares.
a. The following replaces the "Annual Fund Operating Expenses" table and
"Example" under "Fund Summary" in the Tax-Managed Growth Fund prospectus:
Annual Fund Operating Expenses
(expenses that are deducted from Fund assets) Class A Class B Class C
- --------------------------------------------------------------------------------
Management Fees 0.47% 0.47% 0.47%
Distribution and Service (12b-1) Fees* 0.00% 1.00% 1.00%
Other Expenses** 0.45% 0.14% 0.14%
---- ---- ----
Total Annual Fund Operating Expenses 0.92% 1.61% 1.61%
* Long-term shareholders of Class B and Class C shares may pay more than the
economic equivalent of the front-end sales charge permitted by the National
Association of Securities Dealers, Inc.
** Other Expenses for Class A shares includes a service fee of 0.25%.
Example. This Example is intended to help you compare the cost of investing in
the Fund with the cost of investing in other mutual funds. The Example assumes
that you invest $10,000 in the Fund for the time periods indicated and then
redeem all of your shares at the end of those periods. The Example also assumes
that your investment has a 5% return each year and that the operating expenses
remain the same. Although your actual costs may be higher or lower, based on
these assumptions your costs would be:
1 Year 3 Years 5 Years 10 Years
- --------------------------------------------------------------------------------
Class A shares $663 $851 $1,055 $1,641
Class B shares $664 $908 $1,076 $1,911
Class C shares $264 $508 $ 876 $1,911
You would pay the following expenses if you did not redeem you shares:
1 Year 3 Years 5 Years 10 Years
- --------------------------------------------------------------------------------
Class A shares $663 $ 851 $1,055 $1,641
Class B shares $164 $ 508 $ 876 $1,911
Class C shares $164 $ 508 $ 876 $1,911
<PAGE>
b. The following replaces the "Annual Fund Operating Expenses" table and
"Example" under "Fund Summaries" in the Tax-Managed Emerging Growth Fund
prospectus:
Annual Fund Operating Expenses
(expenses that are deducted from Fund assets) Class A Class B Class C
- --------------------------------------------------------------------------------
Management Fees 0.63% 0.63% 0.63%
Distribution and Service (12b-1) Fees* 0.00% 1.00% 1.00%
Other Expenses** 0.83% 0.58% 0.58%
---- ---- ----
Total Annual Fund Operating Expenses 1.46% 2.21% 2.21%
* Long-term shareholders of Class B and Class C shares may pay more than the
economic equivalent of the front-end sales charge permitted by the National
Association of Securities Dealers, Inc.
** Other Expenses for Class A shares includes a service fee of 0.25%.
Example. This Example is intended to help you compare the cost of investing in
the Fund with the cost of investing in other mutual funds. The Example assumes
that you invest $10,000 in the Fund for the time periods indicated and then
redeem all of your shares at the end of those periods. The Example also assumes
that your investment has a 5% return each year and that the operating expenses
remain the same. Although your actual costs may be higher or lower, based on
these assumptions your costs would be:
1 Year 3 Years 5 Years 10 Years
- --------------------------------------------------------------------------------
Class A shares $ 715 $1,010 $1,327 $2,221
Class B shares $ 724 $1,090 $1,382 $2,539
Class C shares $ 324 $ 691 $1,185 $2,544
You would pay the following expenses if you did not redeem you shares:
1 Year 3 Years 5 Years 10 Years
- --------------------------------------------------------------------------------
Class A shares $663 $ 851 $1,055 $1,641
Class B shares $164 $ 508 $ 876 $1,911
Class C shares $164 $ 508 $ 876 $1,911
c. The following replaces the "Annual Fund Operating Expenses" table and
"Example" under "Fund Summaries" in the Tax-Managed International Growth
Fund prospectus:
Annual Fund Operating Expenses
(expenses that are deducted from Fund assets) Class A Class B Class C
- --------------------------------------------------------------------------------
Management Fees* 1.00% 1.00% 1.00%
Distribution and Service (12b-1) Fees** 0.00% 1.00% 1.00%
Other Expenses*** 1.45% 1.20% 1.20%
---- ---- ----
Total Annual Fund Operating Expenses 2.45% 3.20% 3.20%
* For the period ended October 31, 1998, the Fund's Management Fee was 0.77%
of average daily net assets because the investment adviser waived a portion
of its fee.
** Long-term shareholders of Class B and Class C shares may pay more than the
economic equivalent of the front-end sales charge permitted by the National
Association of Securities Dealers, Inc.
*** Other Expenses for Class A shares includes a service fee of 0.25%.
Example. This Example is intended to help you compare the cost of investing in
the Fund with the cost of investing in other mutual funds. The Example assumes
that you invest $10,000 in the Fund for the time periods indicated and then
redeem all of your shares at the end of those periods. The Example also assumes
that your investment has a 5% return each year and that the operating expenses
remain the same. Although your actual costs may be higher or lower, based on
these assumptions your costs would be:
1 Year 3 Years
- --------------------------------------------------------------------------------
Class A shares $ 711 $1,202
Class B shares $ 823 $1,386
Class C shares $ 400 $1,562
<PAGE>
You would pay the following expenses if you did not redeem you shares:
1 Year 3 Years
- --------------------------------------------------------------------------------
Class A shares $711 $1,202
Class B shares $323 $ 986
Class C shares $300 $1,562
3. The following replaces "Distribution and Services Fees" under "Sales
Charges":
Distribution and Service Fees. Class B and Class C shares have in effect
plans under Rule 12b-1 that allow each Fund to pay distribution fees for
the sale and distribution of shares (so-called "12b-1 fees"). Class B and
Class C shares pay distribution fees of 0.75% of average daily net assets
annually. Because these fees are paid from Fund assets on an ongoing basis,
they will increase your cost over time and may cost you more than paying
other types of sales charges. All Classes pay service fees for personal
and/or account services equal to 0.25% of average daily net assets
annually.
Class B and Class C distribution fees are subject to termination when
payments under the Rule 12b-1 plans are sufficient to extinguish uncovered
distribution charges. As described more fully in the Statement of
Additional Information, uncovered distribution charges of a Class are
increased by sales commissions payable by the Class to the principal
underwriter in connection with sales of shares of that Class and by an
interest factor tied to the U.S. Prime Rate. Uncovered distribution charges
are reduced by the distribution fees paid by the Class and by CDSCs paid to
the Fund by redeeming shareholders. The amount of the sales commissions
payable by Class B to the principal underwriter in connection with sales of
Class B shares is significantly less than the maximum permitted by the
sales charge rule of the National Association of Securities Dealer, Inc. To
date, neither Class B nor Class C uncovered distribution charges have not
been fully covered.
4. The following replaces "Withdrawal Plan" under "Shareholder Account
Features":
Withdrawal Plan. You may redeem shares on a regular quarterly basis by
establishing a systematic withdrawal plan. Withdrawal amounts must be at
least $200 per year, or a specified percentage of net asset value of at
least 4% but not more than 12% annually. These withdrawals will not be
subject to a CDSC. A minimum account size of $5,000 is required to
establish a systematic withdrawal plan. Because purchases of Class A shares
are subject to an initial sales charge, you should not make withdrawals
from your account while you are making purchases.
5. The following sentence is added to the first paragraph of "Exchange
Privilege" under "Shareholder Account Features" in the Tax-Managed Growth
Fund prospectus:
Class A shares may also be exchanged for the Fund's Institutional Shares,
subject to the terms and conditions for investing in those shares.
October 12, 1999 TMPS
<PAGE>
Eaton Vance Government Obligations Fund
Supplement to Prospectus dated May 1, 1999
Eaton Vance Balanced Fund
Eaton Vance Growth & Income Fund
Eaton Vance Special Equities Fund
Eaton Vance Utilities Fund
Supplement to Prospectus dated May 1, 1999
1. The address of the Fund and Eaton Vance Management (including its
affiliates) is as follows:
The Eaton Vance Building
255 State Street
Boston, MA 02109
Telephone numbers remain the same.
2. Service fees will now be paid from the time of sale of Class A and Class B
shares. This will result in slightly higher Total Operating Expenses for
these classes than that shown in the "Annual Fund Operating Expenses" table
in each Fund Summary.
3. The following replaces "Distribution and Service Fees" under "Sales
Charges":
Distribution and Service Fees. Class B and Class C shares have in effect
plans under Rule 12b-1 that allow each Fund to pay distribution fees for
the sale and distribution of shares (so-called "12b-1 fees"). Class B and
Class C shares pay distribution fees of 0.75% of average daily net assets
annually. Because these fees are paid from Fund assets on an ongoing basis,
they will increase your cost over time and may cost you more than paying
other types of sales charges. All Classes pay service fees for personal
and/or account services equal to 0.25% of average daily net assets
annually.
Class B and Class C distribution fees are subject to termination when
payments under the Rule 12b-1 plans are sufficient to extinguish uncovered
distribution charges. As described more fully in the Statement of
Additional Information, uncovered distribution charges of a Class are
increased by sales commissions payable by the Class to the principal
underwriter in connection with sales of shares of that Class and by an
interest factor tied to the U.S. Prime Rate. Uncovered distribution charges
are reduced by the distribution fees paid by the Class and by CDSCs paid to
the Fund by redeeming shareholders. The amount of the sales commissions
payable by Class B to the principal underwriter in connection with sales of
Class B shares is significantly less than the maximum permitted by the
sales charge rule of the National Association of Securities Dealer, Inc. To
date, neither Class B nor Class C uncovered distribution charges have been
fully covered.
4. The following replaces "Withdrawal Plan" under "Shareholder Account
Features":
Withdrawal Plan. You may redeem shares on a regular monthly or quarterly
basis by establishing a systematic withdrawal plan. Withdrawals will not be
subject to any applicable CDSC if they do not in the aggregate exceed 12%
annually of the account balance at the time the plan is established. A
minimum account size of $5,000 is required to establish a systematic
withdrawal plan. Because purchases of Class A shares are subject to an
initial sales charge, you should not make withdrawals from your account
while you are making purchases.
October 12, 1999 FEESPS
<PAGE>
Eaton Vance Municipal Bond Fund
Supplement to Prospectus dated May 1, 1999
Eaton Vance High Yield Municipals Fund
Supplement to Prospectus dated June 1, 1999
1. The address of the Fund and Eaton Vance Management (including its
affiliates) is as follows:
The Eaton Vance Building
255 State Street
Boston, MA 02109
Telephone numbers remain the same.
2. Service fees will now be paid from the time of sale of Class A and Class B
shares.
a. The following replaces the "Annual Fund Operating Expenses" table and
"Example" under "Fund Summary" in the Municipal Bond Fund prospectus:
Annual Fund Operating Expenses
(expenses that are deducted from Fund assets) Class A Class B Class I
- --------------------------------------------------------------------------------
Management Fees 0.48% 0.48% 0.48%
Distribution and Service (12b-1) Fees* 0.00% 1.00% 0.00%
Other Expenses** 0.42% 0.16% 0.22%
---- ---- ----
Total Annual Fund Operating Expenses 0.90% 1.64% 0.70%
* Long-term shareholders of Class B shares may pay more than the economic
equivalent of the front-end sales charge permitted by the National
Association of Securities Dealers, Inc.
** Other Expenses for Class A shares includes a service fee of 0.25%.
Example. This Example is intended to help you compare the cost of investing in
the Fund with the cost of investing in other mutual funds. The Example assumes
that you invest $10,000 in the Fund for the time periods indicated and then
redeem all of your shares at the end of those periods. The Example also assumes
that your investment has a 5% return each year and that the operating expenses
remain the same. Although your actual costs may be higher or lower, based on
these assumptions your costs would be:
1 Year 3 Years 5 Years 10 Years
- --------------------------------------------------------------------------------
Class A shares $562 $748 $ 950 $1,530
Class B shares $667 $917 $1,092 $1,944
Class I shares $ 72 $224 $ 390 $ 871
You would pay the following expenses if you did not redeem you shares:
1 Year 3 Years 5 Years 10 Years
- --------------------------------------------------------------------------------
Class A shares $562 $748 $950 $1,530
Class B shares $167 $517 $892 $1,944
Class I shares $ 72 $224 $390 $ 871
b. The following replaces the "Annual Fund Operating Expenses" table and
"Example" under "Fund Summary" in the High Yield Municipals Fund
prospectus:
Annual Fund Operating Expenses
(expenses that are deducted from Fund assets) Class A Class B Class C
- --------------------------------------------------------------------------------
Management Fees 0.58% 0.58% 0.58%
Distribution and Service (12b-1) Fees* 0.00% 1.00% 1.00%
Other Expenses** 0.47% 0.22% 0.22%
---- ---- ----
Total Annual Fund Operating Expenses 1.05% 1.80% 1.80%
* Long-term shareholders of Class B and Class C shares may pay more than the
economic equivalent of the front-end sales charge permitted by the National
Association of Securities Dealers, Inc.
** Other Expenses for Class A shares includes a service fee of 0.25%.
<PAGE>
Example. This Example is intended to help you compare the cost of investing in
the Fund with the cost of investing in other mutual funds. The Example assumes
that you invest $10,000 in the Fund for the time periods indicated and then
redeem all of your shares at the end of those periods. The Example also assumes
that your investment has a 5% return each year and that the operating expenses
remain the same. Although your actual costs may be higher or lower, based on
these assumptions your costs would be:
1 Year 3 Years 5 Years 10 Years
- --------------------------------------------------------------------------------
Class A shares $577 $793 $1,027 $1,697
Class B shares $683 $966 $1,175 $2,116
Class C shares $283 $566 $ 975 $2,116
You would pay the following expenses if you did not redeem you shares:
1 Year 3 Years 5 Years 10 Years
- --------------------------------------------------------------------------------
Class A shares $577 $793 $1,027 $1,697
Class B shares $183 $566 $ 975 $2,116
Class C shares $183 $566 $ 975 $2,116
3. The following replaces "Distribution and Service Fees" under "Sales
Charges":
Distribution and Service Fees. Class B shares of Municipal Bond Fund and
Class B and Class C shares of High Yield Municipals Fund have in effect
plans under Rule 12b-1 that allow each Fund to pay distribution fees for
the sale and distribution of shares (so-called "12b-1 fees"). Class B and
Class C shares pay distribution fees of 0.75% of average daily net assets
annually. Because these fees are paid from Fund assets on an ongoing basis,
they will increase your cost over time and may cost you more than paying
other types of sales charges. Class A, Class B and Class C shares pay
service fees for personal and/or account services equal to 0.25% of average
daily net assets annually.
Class B and Class C distribution fees are subject to termination when
payments under the Rule 12b-1 plans are sufficient to extinguish uncovered
distribution charges. As described more fully in the Statement of
Additional Information, uncovered distribution charges of a Class are
increased by sales commissions payable by the Class to the principal
underwriter in connection with sales of shares of that Class and by an
interest factor tied to the U.S. Prime Rate. Uncovered distribution charges
are reduced by the distribution fees paid by the Class and by CDSCs paid to
the Fund by redeeming shareholders. The amount of the sales commissions
payable by Class B to the principal underwriter in connection with sales of
Class B shares is significantly less than the maximum permitted by the
sales charge rule of the National Association of Securities Dealer, Inc. To
date, neither Class B nor Class C uncovered distribution charges have been
fully covered.
4. The following replaces "Withdrawal Plan" under "Shareholder Account
Features":
Withdrawal Plan. You may redeem shares on a regular monthly or quarterly
basis by establishing a systematic withdrawal plan. Withdrawals will not be
subject to any applicable CDSC if they do not in the aggregate exceed 12%
annually of the account balance at the time the plan is established. A
minimum account size of $5,000 is required to establish a systematic
withdrawal plan. Because purchases of Class A shares are subject to an
initial sales charge, you should not make withdrawals from your account
while you are making purchases.
5. The following is added to the first paragraph of "Exchange Privilege" under
"Shareholder Account Features" in the Municipal Bond Fund prospectus:
Class A shares may also be exchanged for the Fund's Class I shares, subject
to the terms and conditions for investing in those shares.
October 12, 1999 MBHYPS
<PAGE>
Eaton Vance National Municipals Fund
Supplement to Prospectus dated February 1, 1999
Eaton Vance Strategic Income Fund
Supplement to Prospectus dated March 1, 1999
1. The address of the Fund and Eaton Vance Management (including its
affiliates) is as follows:
The Eaton Vance Building
255 State Street
Boston, MA 02109
Telephone numbers remain the same.
2. Service fees will now be paid from the time of sale of Class A and Class B
shares.
a. The following replaces the "Annual Fund Operating Expenses" table and
"Example" under "Fund Summary" in the National Municipals Fund prospectus:
Annual Fund Operating Expenses
(expenses that are deducted from Fund assets) Class A Class B Class C
- --------------------------------------------------------------------------------
Management Fees 0.42% 0.42% 0.42%
Distribution and Service (12b-1) Fees* 0.00% 1.00% 1.00%
Other Expenses** 0.37% 0.12% 0.12%
---- ---- ----
Total Annual Fund Operating Expenses 0.79% 1.54% 1.54%
* Long-term shareholders of Class B and Class C shares may pay more than the
economic equivalent of the front-end sales charge permitted by the National
Association of Securities Dealers, Inc.
** Other Expenses for Class A shares includes a service fee of 0.25%.
Example. This Example is intended to help you compare the cost of investing in
the Fund with the cost of investing in other mutual funds. The Example assumes
that you invest $10,000 in the Fund for the time periods indicated and then
redeem all of your shares at the end of those periods. The Example also assumes
that your investment has a 5% return each year and that the operating expenses
remain the same. Although your actual costs may be higher or lower, based on
these assumptions your costs would be:
1 Year 3 Years 5 Years 10 Years
- --------------------------------------------------------------------------------
Class A shares $552 $715 $ 893 $1,406
Class B shares $657 $886 $1,039 $1,835
Class C shares $257 $486 $ 839 $1,834
You would pay the following expenses if you did not redeem you shares:
1 Year 3 Years 5 Years 10 Years
- --------------------------------------------------------------------------------
Class A shares $552 $715 $893 $1,406
Class B shares $157 $486 $839 $1,835
Class C shares $157 $486 $839 $1,834
b. The following replaces the "Annual Fund Operating Expenses" table and
"Example" under "Fund Summary" in the Strategic Income Fund prospectus:
Annual Fund Operating Expenses
(expenses that are deducted from Fund assets) Class A Class B Class C
- --------------------------------------------------------------------------------
Management Fees 0.52% 0.52% 0.52%
Distribution and Service (12b-1) Fees* 0.00% 1.00% 1.00%
Other Expenses** 0.76% 0.51% 0.51%
---- ---- ----
Total Annual Fund Operating Expenses 1.28% 2.03% 2.03%
* Long-term shareholders of Class B and Class C shares may pay more than the
economic equivalent of the front-end sales charge permitted by the National
Association of Securities Dealers, Inc.
** Other Expenses for Class A shares includes a service fee of 0.25%.
<PAGE>
Example. This Example is intended to help you compare the cost of investing in
the Fund with the cost of investing in other mutual funds. The Example assumes
that you invest $10,000 in the Fund for the time periods indicated and then
redeem all of your shares at the end of those periods. The Example also assumes
that your investment has a 5% return each year and that the operating expenses
remain the same. Although your actual costs may be higher or lower, based on
these assumptions your costs would be:
1 Year 3 Years 5 Years 10 Years
- --------------------------------------------------------------------------------
Class A shares $599 $ 862 $1,144 $1,947
Class B shares $706 $1,037 $1,293 $2,358
Class C shares $306 $ 637 $1,093 $2,358
You would pay the following expenses if you did not redeem you shares:
1 Year 3 Years 5 Years 10 Years
- --------------------------------------------------------------------------------
Class A shares $599 $862 $1,144 $ 947
Class B shares $206 $637 $1,093 $2,358
Class C shares $206 $637 $1,093 $2,358
3. The following replaces "Distribution and Service Fees" under "Sales
Charges":
Distribution and Service Fees. Class B and Class C shares have in effect
plans under Rule 12b-1 that allow each Fund to pay distribution fees for
the sale and distribution of shares (so-called "12b-1 fees"). Class B and
Class C shares pay distribution fees of 0.75% of average daily net assets
annually. Because these fees are paid from Fund assets on an ongoing basis,
they will increase your cost over time and may cost you more than paying
other types of sales charges. All Classes pay service fees for personal
and/or account services equal to 0.25% of average daily net assets
annually.
Class B and Class C distribution fees are subject to termination when
payments under the Rule 12b-1 plans are sufficient to extinguish uncovered
distribution charges. As described more fully in the Statement of
Additional Information, uncovered distribution charges of a Class are
increased by sales commissions payable by the Class to the principal
underwriter in connection with sales of shares of that Class and by an
interest factor tied to the U.S. Prime Rate. Uncovered distribution charges
are reduced by the distribution fees paid by the Class and by CDSCs paid to
the Fund by redeeming shareholders. The amount of the sales commissions
payable by Class B to the principal underwriter in connection with sales of
Class B shares is significantly less than the maximum permitted by the
sales charge rule of the National Association of Securities Dealer, Inc. To
date, neither Class B nor Class C uncovered distribution charges have been
fully covered.
4. The following replaces "Withdrawal Plan" under "Shareholder Account
Features":
Withdrawal Plan. You may redeem shares on a regular monthly or quarterly
basis by establishing a systematic withdrawal plan. Withdrawals will not be
subject to any applicable CDSC if they do not in the aggregate exceed 12%
annually of the account balance at the time the plan is established. A
minimum account size of $5,000 is required to establish a systematic
withdrawal plan. Because purchases of Class A shares are subject to an
initial sales charge, you should not make withdrawals from your account
while you are making purchases.
5. The following is added to the first paragraph of "Exchange Privilege" under
"Shareholder Account Features" in the National Municipals Fund prospectus:
Class A shares may also be exchanged for the Fund's Institutional Shares,
subject to the terms and conditions for investing in those shares.
October 12, 1999 HMSIPS
<PAGE>
Eaton Vance High Income Fund
Supplement to Prospectus
dated August 1, 1999
1. Service fees will now be paid from the time of sale of Class B shares. This
will result in slightly higher Total Operating Expenses for Class B than
that shown in the "Annual Fund Operating Expenses" table under "Fund
Summary".
2. The following replaces "Distribution and Service Fees" under "Sales
Charges":
Distribution and Service Fees. Class B and Class C shares have in effect
plans under Rule 12b-1 that allow the Fund to pay distribution fees for the
sale and distribution of shares (so-called "12b-1 fees"). Class B and Class
C shares pay distribution fees of 0.75% of average daily net assets
annually. Because these fees are paid from Fund assets on an ongoing basis,
they will increase your cost over time and may cost you more than paying
other types of sales charges. Both Classes also pay service fees for
personal and/or account services equal to 0.25% of average daily net assets
annually.
Class B and Class C distribution fees are subject to termination when
payments under the Rule 12b-1 plans are sufficient to extinguish uncovered
distribution charges. As described more fully in the Statement of
Additional Information, uncovered distribution charges of a Class are
increased by sales commissions payable by the Class to the principal
underwriter in connection with sales of shares of that Class and by an
interest factor tied to the U.S. Prime Rate. Uncovered distribution charges
are reduced by the distribution fees paid by the Class and by CDSCs paid to
the Fund by redeeming shareholders. The amount of the sales commissions
payable by Class B to the principal underwriter in connection with sales of
Class B shares is significantly less than the maximum permitted by the
sales charge rule of the National Association of Securities Dealer, Inc. To
date, neither Class B nor Class C uncovered distribution charges have been
fully covered.
October 12, 1999 HIPS
