EV CLASSIC NATIONAL LIMITED MATURITY MUNICIPALS FUND
(formerly EV Classic National Limited
Maturity Tax Free Fund)
Supplement to Prospectus dated August 1, 1995
The shareholders of the Fund have approved a change to the
Fund's fundamental investment policy. Effective immediately, the
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, the
Fund and the Portfolio have changed their names to "EV Classic
National Limited Maturity Municipals Fund" and "National Limited
Maturity Municipals Portfolio," respectively. Also, the first
sentence of the first paragraph under "How the Fund and the
Portfolio Invest their Assets" is replaced with the following:
The 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.
December 11, 1995 C-LNAPS
EV CLASSIC NATIONAL LIMITED MATURITY MUNICIPALS FUND
(formerly EV Classic National Limited Maturity Tax Free Fund)
Supplement to Statement of Additional Information
dated August 1, 1995
1. The Fund and the Portfolio have changed their names to
"EV Classic National Limited Maturity Municipals Fund" and
"National Limited Maturity Municipals Portfolio," respectively.
2. The following replaces the fourth paragraph under
"Investment Restrictions":
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 11, 1995 C-LNASAIS
EV MARATHON NATIONAL LIMITED MATURITY MUNICIPALS FUND
(formerly EV Marathon National Limited
Maturity Tax Free Fund)
Supplement to Prospectus dated August 1, 1995
The shareholders of the Fund have approved a change to the
Fund's fundamental investment policy. Effective immediately, the
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, the
Fund and the Portfolio have changed their names to "EV Marathon
National Limited Maturity Municipals Fund" and "National Limited
Maturity Municipals Portfolio," respectively. Also, the first
sentence of the first paragraph under "How the Fund and the
Portfolio Invest their Assets" is replaced with the following:
The 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.
December 11, 1995 M-LNAPS
EV MARATHON NATIONAL LIMITED MATURITY MUNICIPALS FUND
(formerly EV Marathon National Limited Maturity Tax Free Fund)
Supplement to Statement of Additional Information
dated August 1, 1995
1. The Fund and the Portfolio have changed their names to
"EV Marathon National Limited Maturity Municipals Fund" and
"National Limited Maturity Municipals Portfolio," respectively.
2. The following replaces the fourth paragraph under
"Investment Restrictions":
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 11, 1995 M-LNASAIS
EV TRADITIONAL NATIONAL LIMITED
MATURITY MUNICIPALS FUND
(formerly EV Traditional National Limited
Maturity Tax Free Fund)
Supplement to Prospectus dated August 1, 1995
The shareholders of the Fund have approved a change to the
Fund's fundamental investment policy. Effective immediately, the
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, the
Fund and the Portfolio have changed their names to "EV
Traditional National Limited Maturity Municipals Fund" and
"National Limited Maturity Municipals Portfolio," respectively.
Also, the first sentence of the first paragraph under "How the
Fund and the Portfolio Invest their Assets" is replaced with the
following:
The 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.
December 11, 1995 T-LNAPS
EV TRADITIONAL NATIONAL LIMITED MATURITY MUNICIPALS FUND
(formerly EV Traditional National Limited Maturity Tax Free Fund)
Supplement to Statement of Additional Information
dated August 1, 1995
1. The Fund and the Portfolio have changed their names to
"EV Traditional National Limited Maturity Municipals Fund" and
"National Limited Maturity Municipals Portfolio," respectively.
2. The following replaces the fourth paragraph under
"Investment Restrictions":
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 11, 1995 T-LNASAIS
