BOSTON, July 2, 2021 / PRNewswire / – Eaton Vance 2021 Target Term Trust (NYSE: EHT) (the “Trust”) was terminated and liquidated after the close of business on July 1, 2021. The termination and liquidation have taken place in accordance with the investment objectives and organizational documents of the Trust, in accordance with the liquidation plans previously announced by the Trust.
The Trust was launched on May 31, 2016 as a short-term income strategy investing primarily in high yield corporate debt securities. His investment objectives were a high current income and a return. $ 9.85 per Share (the Initial Net Asset Value per Common Share (the “Initial NAV”)) upon the termination of the Trust on or about July 1, 2021. The investment objective relating to the original NAV was not guaranteed.
The Trust reverts to shareholders $ 9.839851 per common share as a liquidation distribution.
During its five-year term, the Trust made 59 regular monthly distributions totaling $ 2,413 per share, which is equivalent to an average annual distribution rate of 4.89% on the original NAV. The total annualized return of the Trust since inception was 4.92% at NAV and 4.47% at market price.
Shareholders may recognize a gain or loss for US tax purposes as a result of the liquidation. The Trust’s investment advisor, Eaton Vance Management (“Eaton Vance”), does not provide tax advice; investors should consult a professional tax advisor regarding their particular tax situation.
Eaton Vance applies in-depth fundamental analysis to the active management of equity, income, alternative and multi-asset strategies. Eaton Vance’s investment teams follow proven investment principles that focus on continuous risk management, tax management (where applicable) and the pursuit of consistent long-term returns. The company’s investment capabilities span global financial markets. With a history dating back to 1924, Eaton Vance is headquartered in Boston and also maintains investment offices in new York, London, Tokyo and Singapore. For more information, visit evmanagement.com. Eaton Vance is part of Morgan Stanley Investment Management, the asset management division of Morgan Stanley.
Closed-end fund stocks often trade for less than their net asset value. The market price of the shares of the Trust may vary from the net asset value depending on factors affecting the supply and demand of shares, such as the distribution rates of the Trust relative to similar investments, investor expectations regarding future distribution changes, the clarity of the Trust’s investment strategy and the return expectations and investor confidence in the underlying markets in which the Trust invests. Trust shares are subject to investment risk, including the possible loss of invested capital. The Trust is not a complete investment program and you could lose money investing in it. An investment in the Trust may not be suitable for all investors. Before investing, potential investors should carefully consider the Fund’s investment objective, strategies, risks, charges and expenses.
This press release is for informational purposes only and is not intended to, and does not constitute, an offer to buy or sell shares of the Trust. Additional information about the Trust, including information on the performance and characteristics of the portfolio, is available at eatonvance.com.
Statements in this press release that are not historical facts may be forward-looking statements, as defined by United States securities laws. You should exercise caution in interpreting and relying on forward-looking statements, as they are subject to uncertainties and other factors which may be beyond the control of the Trust and could cause actual results to differ materially. those set forth in forward-looking statements.
SOURCE Eaton Vance Management