For the three months ended December 31, 2009, the Fund had net investment income of $444,805 ($0.010 per common share). For the year ended December 31, 2009, the Fund had net investment income of $3,962,885 ($0.083 per common share). In comparison, for the three months ended December 31, 2008, the Fund had net investment income of $911,382 ($0.019 per common share). For the year ended December 31, 2008, the Fund had net investment income of $3,177,106 ($0.066 per common share).
Net realized and unrealized gains for the three months ended December 31, 2009 were $36,477,417 ($0.763 per common share) and net realized and unrealized gains for the year ended December 31, 2009 were $124,738,405 ($2.605 per common share). In comparison, net realized and unrealized losses for the three months ended December 31, 2008 were $140,568,981 ($2.937 per common share) and net realized and unrealized losses for the year ended December 31, 2008 were $275,477,154 ($5.758 per common share).
On December 31, 2009, net assets of the Fund were $628,195,381. The net asset value per common share on December 31, 2009 was $13.04 based on 48,191,102 common shares outstanding. In comparison, on December 31, 2008, net assets of the Fund were $578,074,656. The net asset value per common share on December 31, 2008 was $12.08 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 $161.6 billion in assets as of January 31, 2010, 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 Year Ended
December 31 December 31
----------- -----------
2009 2008 2009 2008
---- ---- ---- ----
Gross investment
income $2,236 $2,602 $10,593 $11,743
Operating expenses (1,791) (1,691) (6,630) (8,566)
------ ------ ------ ------
Net investment
income $445 $911 $3,963 $3,177
Net realized and
unrealized
gains (losses) on
investments $36,477 $(140,569) $124,738 $(275,477)
------- --------- -------- ---------
Net increase
(decrease)
in net assets
from operations $36,922 $(139,658) $128,701 $(272,300)
======= ========= ======== =========
Earnings per Share
Outstanding
--------------------
Gross investment
income $0.047 $0.054 $0.221 $0.245
Operating expenses (0.037) (0.035) (0.138) (0.179)
------ ------ ------ ------
Net investment
income $0.010 $0.019 $0.083 $0.066
Net realized and
unrealized
gains (losses)
on investments $0.763 $(2.937) $2.605 $(5.758)
------ ------- ------ -------
Net increase
(decrease)
in net assets
from operations $0.773 $(2.918) $2.688 $(5.692)
====== ======= ====== =======
Net Asset Value at
December 31 (Common
Shares )
--------------------
Net assets $628,195 $578,075
Shares outstanding 48,191 47,844
Net asset value per
share outstanding $13.04 $12.08
Market Value Summary
(Common Shares )
----------------------
Market price on NYSE
at December 31 $14.32 $10.67
High market price
(year ended December 31) $14.66 $18.82
Low market price
(year ended December 31) $7.59 $8.32
SOURCE Eaton Vance Management
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