Eaton Vance Insured New York Municipal Bond Fund Report Of Earnings.BOSTON Boston, town, England Boston, town (1991 pop. 26,495), E central England, on the Witham River. Boston's fame as a port dates from the 13th cent., when it was a Hanseatic port trading wool and wine. Having recovered from a decline in the 18th and 19th cent. -- Eaton Vance Eaton Vance is an American financial services company headquartered in Boston, MA. It is traded on the New York Stock Exchange under the symbol EV.[1] At the end of the second quarter of the 2006 fiscal year, the company had assets under management of $118.8 billion. Insured New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Municipal Bond Fund Municipal Bond Fund A mutual fund that invests in municipal bonds, operating either as an investment trust or as an open-end fund. Notes: Because the bonds are local government issues, they usually help to maximize tax-exempt income. (AMEX AMEX See: American Stock Exchange :ENX ENX European Network Exchange ENX Eneighborhoods Document (File Extension) ENX E-Neighborhoods Document ) (the "Fund"), a non-diversified closed-end investment company closed-end investment company: see mutual fund. , today announced the earnings of the Fund for the three and six months ended March 31, 2006. The Fund's fiscal year ends on September 30, 2006. For the three months ended March 31, 2006, the Fund had net investment income of $3,952,296 ($0.252 per common share). From this amount, the Fund paid dividends on preferred shares Preferred shares Preferred shares give investors a fixed dividend from the company's earnings and entitle them to be paid before common shareholders. See: Preferred stock. of $978,003 (equal to $0.062 for each common share), resulting in net investment income after the preferred dividends preferred dividend n. a payment of a corporation's profits to holders of preferred shares of stock. (See: preferred stock) of $2,974,293 or $0.190 per common share. For the six months ended March 31, 2006, the Fund net investment income of $7,873,965 ($0.502 per common share), before deduction deduction, in logic, form of inference such that the conclusion must be true if the premises are true. For example, if we know that all men have two legs and that John is a man, it is then logical to deduce that John has two legs. of the preferred share dividends of 1,918,193 ($0.122 per common share), resulting in net investment income after the preferred dividends of 5,955,772 or $0.380 per common share. In comparison, for the three months ended March 31, 2005, the Fund had net investment income of $3,945,618 ($0.251 per share). From this amount, the Fund paid a dividend on preferred shares of $533,680 (equal to $0.034 for each common share), resulting in net investment income after the preferred dividend of $3,411,938, or $0.217 per common share. For the six months ended March 31, 2005, the Fund net investment income increased to $7,902,530 ($0.503 per common share, before deduction of the preferred share dividends totaling $0.067 per common share), resulting in net investment income after the preferred dividends of $0.436 per common share. Net realized and unrealized gains Unrealized Gain A profit that results from holding on to an asset rather than cashing it in and using the funds. Notes: Let's say you own a stock that has doubled, but you haven't sold it yet. This is said to be an unrealized gain. for the three months ended March 31, 2006 were $1,248,771 ($0.078 per common share). The Fund's net realized and unrealized gains for the six months ended March 31, 2006 were $1,170,066 ($0.073). In comparison, net realized and unrealized gains for the three months ended March 31, 2005 were $395,077 ($0.026) per common share). The Fund's net realized and unrealized gains for the six months ended March 31, 2005 were $2,577,208 ($0.165). On March 31, 2006, net assets Net assets The difference between total assets on the one hand and current liabilities and noncapitalized long-term liabilities on the other hand. net assets See owners' equity. of the Fund applicable to common shares were $232,274,065. The net asset value per common share on March 31, 2006 was $14.80 based on 15,698,145 common shares outstanding. In comparison, On March 31, 2005, net assets of the Fund applicable to common shares were $228,475,218. The net asset value per common share on March 31, 2005 was $14.55 based on 15,698,145 common shares outstanding. Common shares of the Fund are traded on the American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. . The Fund is managed by Eaton Vance Management, a subsidiary of Eaton Vance Corp, which is listed on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. under the symbol EV. Eaton Vance and its affiliates had over $118.8 billion in assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. on April 30, 2006. Eaton Vance Management will make available periodic summary information regarding portfolio investments. Those interested should call Eaton Vance at (617) 482-8260.
EATON VANCE INSURED NEW YORK MUNICIPAL BOND FUND
SUMMARY OF RESULTS OF OPERATIONS
(in thousands, except per share amounts)
Three Months Ended Six Months Ended
March 31, March 31,
-------------------- -------------------
2006 2005 2006 2005
----------- -------- --------- ---------
Gross investment income $4,461 $4,449 $8,917 $8,886
Operating expenses (509) (503) (1,043) (983)
----------- -------- --------- ---------
Net investment income $3,952 $3,946 $7,874 $7,903
Net realized and unrealized
gains (losses) on
investments $1,249 $395 $1,170 $2,577
Preferred dividend paid from
net investment income ($978) ($534) ($1,918) ($1,054)
----------- --------- ---------
Net increase (decrease)
in net assets from
operations $4,223 $3,807 $7,126 $9,426
Earnings per Share
Outstanding
-----------------------------
Gross investment income $0.284 $0.283 $0.568 $0.566
Operating expenses (0.032) 0.032 (0.066) 0.063
----------- -------- --------- ---------
Net investment income $0.252 $0.251 $0.502 $0.503
Net realized and unrealized
gains (losses) on
investments $0.078 $0.026 $0.073 $0.165
Preferred dividend paid from
net investment income ($0.062) ($0.034) ($0.122) ($0.067)
----------- -------- --------- ---------
Net increase (decrease)
in net assets from
operations $0.268 $0.243 $0.453 $0.601
Net investment income $0.252 $0.251 $0.502 $0.503
Preferred dividend paid from
net investment income (0.062) (0.034) (0.122) (0.067)
----------- -------- --------- ---------
Net investment income after
preferred dividend $0.190 $0.217 $0.380 $0.436
=========== ======== ========= =========
Net Asset Value at March 31,
(Common Shares)
-----------------------------
Net assets (000) $232,274 $228,475
Shares outstanding (000) 15,698 15,698
Net asset value per share
outstanding $14.80 $14.55
Market Value Summary (Common
Shares)
-----------------------------
Market price on AMEX at
March 31 $14.04 $13.32
High market price (six months ended
March 31) $14.65 $14.10
Low market price (six months ended
March 31) $13.09 $13.11
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