For the three months ended June 30, 2009, the Fund had net investment income of $3,495,893 ($0.049 per common share). For the six months ended June 30, 2009, the Fund had net investment income of $6,772,517 ($0.095 per common share). In comparison, for the three months ended June 30, 2008, the Fund had net investment income of $3,198,765 ($0.045 per common share). For the six months ended June 30, 2008, the Fund had net investment income of $6,342,739 ($0.090 per common share).
Net realized and unrealized gains for the three months ended June 30, 2009 were $10,152,864 ($0.134 per common share) and net realized and unrealized losses for the six months ended June 30, 2009 were $27,371,239 ($0.395 per common share). In comparison, net realized and unrealized gains for the three months ended June 30, 2008 were $10,566,080 ($0.154 per common share) and net realized and unrealized losses for the six months ended June 30, 2008 were $3,821,491 ($0.051 per common share).
On June 30, 2009, net assets of the Fund were $1,153,874,693. The net asset value per share on June 30, 2009 was $16.14 based on 71,476,941 shares outstanding. In comparison, on June 30, 2008, net assets of the Fund were $1,343,510,969. The net asset value per share on June 30, 2008 was $19.14 based on 70,205,000 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 RISK-MANAGED DIVERSIFIED EQUITY INCOME FUND
SUMMARY OF RESULTS OF OPERATIONS
(in thousands, except per share amounts)
Three Months Six Months
Ended Ended
June 30, June 30,
--------- ---------
2009 2008 2009 2008
---- ---- ---- ----
Gross investment income $6,562 $6,739 $12,938 $13,509
Operating expenses ($3,067) ($3,540) ($6,166) ($7,166)
------- ------- ------- -------
Net investment income $3,495 $3,199 $6,772 $6,343
Net realized and unrealized
gains (losses) on
investments $10,153 $10,566 ($27,371) ($3,821)
------- ------- -------- -------
Net increase (decrease)
in net assets from
operations $13,648 $13,765 ($20,599) $2,522
======= ======= ======== ======
Earnings per Share Outstanding
------------------------------
Gross investment income $0.092 $0.096 $0.182 $0.192
Operating expenses ($0.043) ($0.051) ($0.087) ($0.102)
------- ------- ------- -------
Net investment income $0.049 $0.045 $0.095 $0.090
Net realized and unrealized
gains (losses) on
investments $0.134 $0.154 ($0.395) ($0.051)
------ ------ ------- -------
Net increase (decrease)
in net assets from
operations $0.183 $0.199 ($0.300) $0.039
====== ====== ======= ======
Net Asset Value at June 30
(Common Shares)
--------------------------
Net assets $1,153,875 $1,343,511
Shares outstanding 71,477 70,205
Net asset value per share
outstanding $16.14 $19.14
Market Value Summary
(Common Shares )
--------------------
Market price on NYSE at
June 30 $17.02 $18.91
High market price
(period ended June 30) $18.00 $19.29
Low market price
(period ended June 30) $14.77 $17.85