For the three months ended June 30, 2009, the Fund had net investment income of $1,501,213 ($0.031 per common share). For the six months ended June 30, 2009, the Fund had net investment income of $2,587,972 ($0.054 per common share). In comparison, for the three months ended June 30, 2008, the Fund had net investment income of $749,369 ($0.016 per common share). For the six months ended June 30, 2008, the Fund had net investment income of $1,859,028 ($0.039 per common share).
Net realized and unrealized gains for the three months ended June 30, 2009 were $64,586,294 ($1.355 per common share) and net realized and unrealized gains for the six months ended June 30, 2009 were $26,065,482 ($0.550 per common share). In comparison, net realized and unrealized gains for the three months ended June 30, 2008 were $15,117,119 ($0.320 per common share) and net realized and unrealized losses for the six months ended June 30, 2008 were $63,970,808 ($1.335 per common share).
On June 30, 2009, net assets of the Fund were $566,261,920. The net asset value per common share on June 30, 2009 was $11.82 based on 47,921,661 common shares outstanding. In comparison, on June 30, 2008, net assets of the Fund were $829,600,294. The net asset value per common share on June 30, 2008 was $17.34 based on 47,844,178 common shares outstanding.
The Fund is managed by Eaton Vance Management, a subsidiary of Eaton Vance Corp. (NYSE: EV), based in Boston, one of the oldest investment management firms in the United States, with a history dating back to 1924. Eaton Vance and its affiliates managed $143.7 billion in assets as of July 31, 2009, offering individuals and institutions a broad array of investment products and wealth management solutions. The Company's long record of providing exemplary service and attractive returns through a variety of market conditions has made Eaton Vance the investment manager of choice for many of today's most discerning investors. For more information about Eaton Vance, visit www.eatonvance.com.
EATON VANCE ENHANCED EQUITY INCOME FUND II
SUMMARY OF RESULTS OF OPERATIONS
(in thousands, except per share amounts)
Three Months Ended Six Months Ended
June 30, June 30,
-------- --------
2009 2008 2009 2008
---- ---- ---- ----
Gross investment income $3,028 $3,085 $5,652 $6,490
Operating expenses (1,527) (2,336) (3,064) (4,631)
------ ------ ------ ------
Net investment income $1,501 $749 $2,588 $1,859
Net realized and unrealized gains
(losses) on investments $64,586 $15,117 $26,065 $(63,971)
------- ------- ------- --------
Net increase (decrease) in net
assets from operations $66,087 $15,866 $28,653 $(62,112)
======= ======= ======= ========
Earnings per Share Outstanding
------------------------------
Gross investment income $0.063 $0.065 $0.118 $0.136
Operating expenses (0.032) (0.049) (0.064) (0.097)
------ ------ ------ ------
Net investment income $0.031 $0.016 $0.054 $0.039
Net realized and unrealized gains
(losses) on investments $1.355 $0.320 $0.550 $(1.335)
------ ------ ------ -------
Net increase (decrease) in net
assets from operations $1.386 $0.336 $0.604 $(1.296)
====== ====== ====== =======
Net Asset Value at June 30 (Common Shares)
------------------------------------------
Net assets $566,262 $829,600
Shares outstanding 47,922 47,844
Net asset value per share outstanding $11.82 $17.34
Market Value Summary (Common Shares)
-------------------------------------
Market price on NYSE at June 30 $12.29 $17.16
High market price (period ended June 30) $12.32 $18.82
Low market price (period ended June 30) $7.59 $16.21