For the three months ended September 30, 2009, the Fund had net investment income of $1,223,474 ($0.050 per common share). For the nine months ended September 30, 2009, the Fund had net investment income of $4,207,195 ($0.171 per common share). In comparison, for the three months ended September 30, 2008, the Fund had net investment income of $1,596,429 ($0.065 per common share). For the nine months ended September 30, 2008, the Fund had net investment income of $4,881,514 ($0.199 per common share).
Net realized and unrealized gains for the three months ended September 30, 2009 were $30,527,646 ($1.243 per common share) and net realized and unrealized gains for the nine months ended September 30, 2009 were $57,089,541 ($2.322 per common share). In comparison, net realized and unrealized losses for the three months ended September 30, 2008 were $19,915,052 ($0.808 per common share) and net realized and unrealized losses for the nine months ended September 30, 2008 were $57,075,779 ($2.322 per common share).
On September 30, 2009, net assets of the Fund were $363,782,116. The net asset value per common share on September 30, 2009 was $14.80 based on 24,586,013 common shares outstanding. In comparison, on September 30, 2008, net assets of the Fund were $400,253,300. The net asset value per common share on September 30, 2008 was $16.28 based on 24,581,806 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 $154.9 billion in assets as of October 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 TAX MANAGED BUY-WRITE INCOME FUND
SUMMARY OF RESULTS OF OPERATIONS
(in thousands, except per share amounts)
Three Months Ended Nine Months Ended
September 30, September 30,
------------- -------------
2009 2008 2009 2008
---- ---- ---- ----
Gross investment income $2,181 $2,759 $7,011 $8,485
Operating expenses ($958) ($1,162) ($2,804) ($3,603)
----- ------- ------- -------
Net investment income $1,223 $1,597 $4,207 $4,882
Net realized and unrealized
gains (losses) on investments $30,528 ($19,915) $57,090 ($57,076)
------- -------- ------- --------
Net increase (decrease) in
net assets from operations $31,751 ($18,318) $61,297 ($52,194)
======= ======== ======= ========
Earnings per Share Outstanding
------------------------------
Gross investment income $0.089 $0.112 $0.285 $0.345
Operating expenses ($0.039) ($0.047) ($0.114) ($0.146)
------- ------- ------- -------
Net investment income $0.050 $0.065 $0.171 $0.199
Net realized and unrealized
gains (losses) on investments $1.243 ($0.808) $2.322 ($2.322)
------ ------- ------ -------
Net increase (decrease) in net
assets from operations $1.293 ($0.743) $2.493 ($2.123)
====== ======= ====== =======
Net Asset Value at September 30
(Common Shares)
-------------------------------
Net assets $363,782 $400,253
Shares outstanding 24,586 24,582
Net asset value per
share outstanding $14.80 $16.28
Market Value Summary
(Common Shares)
--------------------
Market price on NYSE at
September 30 $16.21 $13.05
High market price (period ended
September 30) $16.33 $18.11
Low market price (period ended
September 30) $9.08 $12.75
SOURCE Eaton Vance Management