EV CLASSIC CALIFORNIA LIMITED MATURITY MUNICIPALS FUND
EV CLASSIC CONNECTICUT LIMITED MATURITY MUNICIPALS FUND
EV CLASSIC FLORIDA LIMITED MATURITY MUNICIPALS FUND
EV CLASSIC MASSACHUSETTS LIMITED MATURITY MUNICIPALS FUND
EV CLASSIC MICHIGAN LIMITED MATURITY MUNICIPALS FUND
EV CLASSIC NEW JERSEY LIMITED MATURITY MUNICIPALS FUND
EV CLASSIC NEW YORK LIMITED MATURITY MUNICIPALS FUND
EV CLASSIC OHIO LIMITED MATURITY MUNICIPALS FUND
EV CLASSIC PENNSYLVANIA LIMITED MATURITY MUNICIPALS FUND
(each formerly an EV Classic State Limited
Maturity Tax Free Fund)
Supplement to Prospectus dated August 1, 1995
The shareholders of each Fund have approved a change to the
Fund's fundamental investment policy. Effective immediately,
each Fund may invest without limit in municipal obligations the
interest on which is a tax preference item under the federal
alternative minimum tax. In connection with this change, each
Fund and each Portfolio have changed the phrase "Tax Free" in
their names to "Municipals." Also, the first sentence of the
first paragraph under "How the Funds and the Portfolios Invest
their Assets" is replaced with the following:
Each Fund seeks to achieve its investment objective by
investing either directly or indirectly through another
open-end management investment company primarily (i.e., at
least 80% of its net assets during periods of normal market
conditions) in municipal obligations the interest on which
is exempt from regular federal income tax and from the State
taxes that, in accordance with its investment objective, the
Fund seeks to avoid.
December 15, 1995 C-8/1PS
EV CLASSIC CALIFORNIA LIMITED MATURITY MUNICIPALS FUND
EV CLASSIC CONNECTICUT LIMITED MATURITY MUNICIPALS FUND
EV CLASSIC FLORIDA LIMITED MATURITY MUNICIPALS FUND
EV CLASSIC MASSACHUSETTS LIMITED MATURITY MUNICIPALS FUND
EV CLASSIC MICHIGAN LIMITED MATURITY MUNICIPALS FUND
EV CLASSIC NEW JERSEY LIMITED MATURITY MUNICIPALS FUND
EV CLASSIC NEW YORK LIMITED MATURITY MUNICIPALS FUND
EV CLASSIC OHIO LIMITED MATURITY MUNICIPALS FUND
EV CLASSIC PENNSYLVANIA LIMITED MATURITY MUNICIPALS FUND
(each formerly an EV Classic State Limited
Maturity Tax Free Fund)
Supplement to Statement of Additional Information
dated August 1, 1995
1. For all Funds: Effective immediately, each Fund and
each Portfolio have changed the phrase "Tax Free" in their names
to "Municipals."
2. For the Connecticut, Michigan and Ohio Funds only: Set
forth below are revised fundamental investment restrictions,
which shareholders have approved. These fundamental restrictions
replace the fundamental restrictions under "Investment
Restrictions" in each Fund's Part II:
The Fund may not:
(1) Borrow money or issue senior securities except as
permitted by the Investment Company Act of 1940;
(2) Purchase securities on margin (but the Fund may
obtain such short-term credits as may be necessary for the
clearance of purchases and sales of securities). The
deposit or payment by the Fund of initial or maintenance
margin in connection with futures contracts or related
options transactions is not considered the purchase of a
security on margin;
(3) Underwrite or participate in the marketing of
securities of others, except insofar as it may technically
be deemed to be an underwriter in selling a portfolio
security under circumstances which may require the
registration of the same under the Securities Act of 1933;
(4) Purchase or sell real estate (including limited
partnership interests in real estate but excluding readily
marketable interests in real estate investment trusts or
readily marketable securities of companies which invest or
deal in real estate or securities which are secured by real
estate);
(5) Purchase or sell physical commodities or contracts
for the purchase or sale of physical commodities; or
(6) Make loans to any person except by (a) the
acquisition of debt instruments and making portfolio
investments, (b) entering into repurchase agreements and (c)
lending portfolio securities.
Notwithstanding the investment policies and
restrictions of the Fund, the Fund may invest all of its
investable assets in an open-end management investment
company with substantially the same investment objective,
policies and restrictions as the Fund.
3. For all Funds: The following nonfundamental investment
restrictions replace the nonfundamental investment restrictions
in each Fund's Part II:
The Fund and the Portfolio have adopted the following
investment policies which may be changed by the Trust with
respect to the Fund without approval by the Fund's
shareholders or by the Portfolio with respect to the
Portfolio without approval by the Fund or its other
investors. As a matter of nonfundamental policy, the Fund
and the Portfolio will not: (a) engage in options, futures
or forward transactions if more than 5% of its net assets,
as measured by the aggregate of the premiums paid by the
Fund or the Portfolio, would be so invested; (b) make short
sales of securities or maintain a short position, unless at
all times when a short position is open it owns an equal
amount of such securities or securities convertible into or
exchangeable, without payment of any further consideration,
for securities of the same issue as, and equal in amount to,
the securities sold short, and unless not more than 25% of
the Fund's net assets (taken at current value) is held as
collateral for such sales at any one time. (The Fund and
the Portfolio will make such sales only for the purpose of
deferring realization of gain or loss for federal income tax
purposes); (c) invest more than 15% of net assets in
investments which are not readily marketable, including
restricted securities and repurchase agreements maturing in
more than seven days. Restricted securities for the
purposes of this limitation do not include securities
eligible for resale pursuant to Rule 144A under the
Securities Act of 1933 and commercial paper issued pursuant
to Section 4(2) of said Act that the Board of Trustees of
the Trust or the Portfolio, or its delegate, determines to
be liquid; (d) purchase or retain in its portfolio any
securities issued by an issuer any of whose officers,
directors, trustees or security holders is an officer or
Trustee of the Trust or the Portfolio or is a member,
officer, director or trustee of any investment adviser of
the Trust or the Portfolio, if after the purchase of the
securities of such issuer by the Fund or the Portfolio one
or more of such persons owns beneficially more than 1/2 of
1% of the shares or securities or both (all taken at market
value) of such issuer and such persons owning more than 1/2
of 1% of such shares or securities together own beneficially
more than 5% of such shares or securities or both (all taken
at market value); or (e) purchase oil, gas or other mineral
leases or purchase partnership interests in oil, gas or
other mineral exploration or development programs.
December 15, 1995 - 2 - C-8/1SAIS
EV MARATHON ARIZONA LIMITED MATURITY MUNICIPALS FUND
EV MARATHON CALIFORNIA LIMITED MATURITY MUNICIPALS FUND
EV MARATHON CONNECTICUT LIMITED MATURITY MUNICIPALS FUND
EV MARATHON FLORIDA LIMITED MATURITY MUNICIPALS FUND
EV MARATHON MASSACHUSETTS LIMITED MATURITY MUNICIPALS FUND
EV MARATHON MICHIGAN LIMITED MATURITY MUNICIPALS FUND
EV MARATHON NEW JERSEY LIMITED MATURITY MUNICIPALS FUND
EV MARATHON NEW YORK LIMITED MATURITY MUNICIPALS FUND
EV MARATHON NORTH CAROLINA LIMITED MATURITY MUNICIPALS FUND
EV MARATHON OHIO LIMITED MATURITY MUNICIPALS FUND
EV MARATHON PENNSYLVANIA LIMITED MATURITY MUNICIPALS FUND
EV MARATHON VIRGINIA LIMITED MATURITY MUNICIPALS FUND
(each formerly an EV Marathon State Limited
Maturity Tax Free Fund)
Supplement to Prospectus dated August 1, 1995
1. The shareholders of each Fund have approved a change to
the Fund's fundamental investment policy. Effective immediately,
each Fund may invest without limit in municipal obligations the
interest on which is a tax preference item under the federal
alternative minimum tax. In connection with this change, each
Fund and each Portfolio have changed the phrase "Tax Free" in
their names to "Municipals." Also, the first sentence of the
first paragraph under "How the Funds and the Portfolios Invest
their Assets" is replaced with the following:
Each Fund seeks to achieve its investment objective by
investing either directly or indirectly through another
open-end management investment company primarily (i.e., at
least 80% of its net assets during periods of normal market
conditions) in municipal obligations the interest on which
is exempt from regular federal income tax and from the State
taxes that, in accordance with its investment objective, the
Fund seeks to avoid.
2. In addition, effective immediately shares of the North
Carolina and Virginia Funds are no longer being offered for
purchase.
December 15, 1995 M-8/1PS
EV MARATHON ARIZONA LIMITED MATURITY MUNICIPALS FUND
EV MARATHON CALIFORNIA LIMITED MATURITY MUNICIPALS FUND
EV MARATHON CONNECTICUT LIMITED MATURITY MUNICIPALS FUND
EV MARATHON FLORIDA LIMITED MATURITY MUNICIPALS FUND
EV MARATHON MASSACHUSETTS LIMITED MATURITY MUNICIPALS FUND
EV MARATHON MICHIGAN LIMITED MATURITY MUNICIPALS FUND
EV MARATHON NEW JERSEY LIMITED MATURITY MUNICIPALS FUND
EV MARATHON NEW YORK LIMITED MATURITY MUNICIPALS FUND
EV MARATHON NORTH CAROLINA LIMITED MATURITY MUNICIPALS FUND
EV MARATHON OHIO LIMITED MATURITY MUNICIPALS FUND
EV MARATHON PENNSYLVANIA LIMITED MATURITY MUNICIPALS FUND
EV MARATHON VIRGINIA LIMITED MATURITY MUNICIPALS FUND
(each formerly an EV Marathon State Limited Maturity Tax Free
Fund)
Supplement to Statement of Additional Information
dated August 1, 1995
1. For all Funds: Effective immediately, each Fund and
each Portfolio have changed the phrase "Tax Free" in their names
to "Municipals."
2. For the Connecticut, Michigan and Ohio Funds only: Set
forth below are revised fundamental investment restrictions,
which shareholders have approved. These fundamental restrictions
replace the fundamental restrictions under "Investment
Restrictions" in each Fund's Part II:
The Fund may not:
(1) Borrow money or issue senior securities except as
permitted by the Investment Company Act of 1940;
(2) Purchase securities on margin (but the Fund may
obtain such short-term credits as may be necessary for the
clearance of purchases and sales of securities). The
deposit or payment by the Fund of initial or maintenance
margin in connection with futures contracts or related
options transactions is not considered the purchase of a
security on margin;
(3) Underwrite or participate in the marketing of
securities of others, except insofar as it may technically
be deemed to be an underwriter in selling a portfolio
security under circumstances which may require the
registration of the same under the Securities Act of 1933;
(4) Purchase or sell real estate (including limited
partnership interests in real estate but excluding readily
marketable interests in real estate investment trusts or
readily marketable securities of companies which invest or
deal in real estate or securities which are secured by real
estate);
(5) Purchase or sell physical commodities or contracts
for the purchase or sale of physical commodities; or
(6) Make loans to any person except by (a) the
acquisition of debt instruments and making portfolio
investments, (b) entering into repurchase agreements and (c)
lending portfolio securities.
Notwithstanding the investment policies and
restrictions of the Fund, the Fund may invest all of its
investable assets in an open-end management investment
company with substantially the same investment objective,
policies and restrictions as the Fund.
3. For all Funds: The following nonfundamental investment
restrictions replace the nonfundamental investment restrictions
in each Fund's Part II:
The Fund and the Portfolio have adopted the following
investment policies which may be changed by the Trust with
respect to the Fund without approval by the Fund's
shareholders or by the Portfolio with respect to the
Portfolio without approval by the Fund or its other
investors. As a matter of nonfundamental policy, the Fund
and the Portfolio will not: (a) engage in options, futures
or forward transactions if more than 5% of its net assets,
as measured by the aggregate of the premiums paid by the
Fund or the Portfolio, would be so invested; (b) make short
sales of securities or maintain a short position, unless at
all times when a short position is open it owns an equal
amount of such securities or securities convertible into or
exchangeable, without payment of any further consideration,
for securities of the same issue as, and equal in amount to,
the securities sold short, and unless not more than 25% of
the Fund's net assets (taken at current value) is held as
collateral for such sales at any one time. (The Fund and
the Portfolio will make such sales only for the purpose of
deferring realization of gain or loss for federal income tax
purposes); (c) invest more than 15% of net assets in
investments which are not readily marketable, including
restricted securities and repurchase agreements maturing in
more than seven days. Restricted securities for the
purposes of this limitation do not include securities
eligible for resale pursuant to Rule 144A under the
Securities Act of 1933 and commercial paper issued pursuant
to Section 4(2) of said Act that the Board of Trustees of
the Trust or the Portfolio, or its delegate, determines to
be liquid; (d) purchase or retain in its portfolio any
securities issued by an issuer any of whose officers,
directors, trustees or security holders is an officer or
Trustee of the Trust or the Portfolio or is a member,
officer, director or trustee of any investment adviser of
the Trust or the Portfolio, if after the purchase of the
securities of such issuer by the Fund or the Portfolio one
or more of such persons owns beneficially more than 1/2 of
1% of the shares or securities or both (all taken at market
value) of such issuer and such persons owning more than 1/2
of 1% of such shares or securities together own beneficially
more than 5% of such shares or securities or both (all taken
at market value); or (e) purchase oil, gas or other mineral
leases or purchase partnership interests in oil, gas or
other mineral exploration or development programs.
December 15, 1995 - 2 - M-8/1SAIS
EV TRADITIONAL FLORIDA LIMITED MATURITY MUNICIPALS FUND
EV TRADITIONAL NEW YORK LIMITED MATURITY MUNICIPALS FUND
(each formerly an EV Traditional State Limited
Maturity Tax Free Fund)
Supplement to Prospectus dated August 1, 1995
The shareholders of each Fund have approved a change to the
Fund's fundamental investment policy. Effective immediately,
each Fund may invest without limit in municipal obligations the
interest on which is a tax preference item under the federal
alternative minimum tax. In connection with this change, each
Fund and each Portfolio have changed the phrase "Tax Free" in
their names to "Municipals." Also, the first sentence of the
first paragraph under "How the Funds and the Portfolios Invest
their Assets" is replaced with the following:
Each Fund seeks to achieve its investment objective by
investing either directly or indirectly through another
open-end management investment company primarily (i.e., at
least 80% of its net assets during periods of normal market
conditions) in municipal obligations the interest on which
is exempt from regular federal income tax and from the State
taxes that, in accordance with its investment objective, the
Fund seeks to avoid.
December 15, 1995 T-2LPS
EV TRADITIONAL FLORIDA LIMITED MATURITY MUNICIPALS FUND
EV TRADITIONAL NEW YORK LIMITED MATURITY MUNICIPALS FUND
(each formerly an EV Traditional State Limited
Maturity Tax Free Fund)
Supplement to Statement of Additional Information
dated August 1, 1995
1. Effective immediately, each Fund and each Portfolio
have changed the phrase "Tax Free" in their names to
"Municipals."
3. The following nonfundamental investment restrictions
replace the nonfundamental investment restrictions in each Fund's
Part II:
The Fund and the Portfolio have adopted the following
investment policies which may be changed by the Trust with
respect to the Fund without approval by the Fund's
shareholders or by the Portfolio with respect to the
Portfolio without approval by the Fund or its other
investors. As a matter of nonfundamental policy, the Fund
and the Portfolio will not: (a) engage in options, futures
or forward transactions if more than 5% of its net assets,
as measured by the aggregate of the premiums paid by the
Fund or the Portfolio, would be so invested; (b) make short
sales of securities or maintain a short position, unless at
all times when a short position is open it owns an equal
amount of such securities or securities convertible into or
exchangeable, without payment of any further consideration,
for securities of the same issue as, and equal in amount to,
the securities sold short, and unless not more than 25% of
the Fund's net assets (taken at current value) is held as
collateral for such sales at any one time. (The Fund and
the Portfolio will make such sales only for the purpose of
deferring realization of gain or loss for federal income tax
purposes); (c) invest more than 15% of net assets in
investments which are not readily marketable, including
restricted securities and repurchase agreements maturing in
more than seven days. Restricted securities for the
purposes of this limitation do not include securities
eligible for resale pursuant to Rule 144A under the
Securities Act of 1933 and commercial paper issued pursuant
to Section 4(2) of said Act that the Board of Trustees of
the Trust or the Portfolio, or its delegate, determines to
be liquid; (d) purchase or retain in its portfolio any
securities issued by an issuer any of whose officers,
directors, trustees or security holders is an officer or
Trustee of the Trust or the Portfolio or is a member,
officer, director or trustee of any investment adviser of
the Trust or the Portfolio, if after the purchase of the
securities of such issuer by the Fund or the Portfolio one
or more of such persons owns beneficially more than 1/2 of
1% of the shares or securities or both (all taken at market
value) of such issuer and such persons owning more than 1/2
of 1% of such shares or securities together own beneficially
more than 5% of such shares or securities or both (all taken
at market value); or (e) purchase oil, gas or other mineral
leases or purchase partnership interests in oil, gas or
other mineral exploration or development programs.
December 15, 1995 - 2 - T-2LSAIS
