Calvert Expands Taxable Bond Fund Offerings; Calvert Long Duration Income Fund Complements Calvert's Existing Taxable Corporate Bond Fund Line-Up.
"The addition of the Calvert Long Duration Income Fund will complement and expand Calvert's fixed-income product line, particularly in the taxable corporate sector, and enable financial professionals to rely on Calvert to fulfill their asset allocation strategies across target maturity and duration ranges," said Catherine Roy, Chief Investment Officer, Fixed Income for Calvert. "It's the next logical-step addition to Calvert Short Duration Income Fund (short duration) and Calvert Income Fund (intermediate duration) in Calvert's taxable corporate bond fund line-up," she added.
The Calvert Long Duration Income Fund uses an active, relative-value investment strategy. Greg Habeeb and his team will employ the same proven, multi-tiered strategy currently used for Calvert Income Fund and Calvert Short Duration Income Fund. Habeeb describes a key component of the relative-value approach as "looking for and uncovering hidden gems"--bonds that are cheaply priced and frequently overlooked by other managers. Often these are bonds with complex and unusual structures, which are typically issued by lesser-known institutions and often trade below fair-market value. Other aspects of the manager's flexible, multi-faceted relative-value strategy include in-depth credit evaluation and selection, duration and yield curve targeting, and an active trading style.
The Calvert Long Duration Income Fund seeks to maximize income to the extent consistent with prudent investment management and preservation of capital, through investment in long-term bonds and other income-producing securities.
"Our financial advisors believe that maintaining an allocation to bond funds is an essential portfolio strategy whatever the market environment," said Catherine Roy, Calvert Chief Investment Officer of Fixed Income. "Within a bond fund portfolio, diversification among varying maturities can help financial advisors fine-tune a duration that's optimal for a client's financial goals," she added.
Calvert plans to introduce a Web- based tool designed to help financial professionals manage their clients' durations with proper fixed income asset allocation.
Best known for its family of socially responsible mutual funds, Calvert has a full line of funds, including tax-exempt investment products that allow individual and institutional investors to pursue a broad range of investment objectives within a single fund family. Calvert Group, Ltd. has quickly evolved from a single-fund management company in 1976 to become one of the Washington D.C. area's largest mutual fund management firms, with over $10 billion in assets under management for over 400,000 investors.
For more information on any Calvert fund, please contact Calvert at 800.368.2748 for a free prospectus. An investor should consider the investment objectives, risks, charges, and expenses of an investment carefully before investing. The prospectus contains this and other information. Read it carefully before you invest or send money.
Calvert mutual funds are underwritten and distributed by Calvert Distributors Inc., member NASD, a subsidiary of Calvert Group. (1/05, 5318)