Eaton Vance Income Fund of Boston
Institutional Shares
Supplement to Prospectus
dated
July 1, 1999
The following is added to the first paragraph under "Investment Objectives &
Principal Policies and Risks" on page 4 of the prospectus:
The Fund's investment objectives and certain policies may be changed by the
Trustees without shareholder approval. The Trustees have no present intention to
make a change and intend to submit any material change in the objectives to
shareholders for approval.
The following replaces the seventh paragraph under "Investment Objectives &
Principal Policies and Risks" on page 4 of the prospectus:
The Fund may invest up to 25% of net assets in foreign securities. The value of
foreign securities is affected by changes in currency rates, foreign tax laws
(including withholding tax), government policies (in this country or abroad) and
relations between nations. In addition, the costs of investing abroad are
generally higher than in the United States, and foreign securities markets may
be less liquid, more volatile and less subject to governmental supervision than
markets in the United States. The portfolio manager may use forward currency
exchange contracts to attempt to mitigate adverse effects of foreign currency
fluctuations. These contracts allow the Fund to establish a currency exchange
rate with payment and delivery at a future date. They are subject to a risk of
loss due to unanticipated changes in currency exchange rates and default by the
counterparty to the contract. There can be no assurance that this hedging
strategy will be advantageous to the Fund.
The following replaces the third paragraph under "Management and Organization"
on page 5 of the prospectus:
Michael Weilheimer is the portfolio manager of the Fund (since January 1, 1996).
He also manages other Eaton Vance portfolios. Prior to assuming management of
the Portfolio, Mr. Weilheimer was a senior analyst in the Eaton Vance high yield
bond group. He is a vice president of Eaton Vance.
July 14, 1999 IIBPS
