Whois & Analysis for eatonvance.com

Eaton Vance Corp.

is one of the oldest investment management firms in the United States, with a history dating back to 1924.

A mutual fund is a professionally managed investment fund that pools money from many investors to purchase securities.

While there is no legal definition of the term "mutual fund", it is most commonly applied to collective investment vehicles that are regulated and sold to the general public on a daily basis.

They are sometimes referred to as "investment companies" or "registered investment companies".

Hedge funds are not mutual funds; they cannot be sold to the general public and are subject to different government regulations.

A closed-end fund (CEF) or closed-ended fund is a collective investment model based on issuing a fixed number of shares which are not redeemable from the fund.

Unlike open-end funds, new shares in a closed-end fund are not created by managers to meet demand from investors.

Instead, the shares can be purchased and sold only in the market.

This is the original design of the mutual fund which predates open-end mutual funds but offers the same actively managed pooled investments.

In the United States, closed-end funds sold publicly must be registered under both the Securities Act of 1933 and the Investment Company Act of 1940.

A separately managed account (SMA) is a term within the investment management industry encompassing several different types of investment accounts.

For example, an SMA often is used to refer to an individual managed investment account often offered by a brokerage firm through one of their brokers or financial consultants and managed by independent investment management firms (often called money managers for short) and have varying fee structures.

These particular types of SMAs may be called "wrap fee" or "dual contract" accounts, depending on their structure.

There is no official designation for the SMA, but there are common characteristics that are represented in many types of SMA programs.

These characteristics include an open structure or flexible investment security choices; multiple money managers; and a customized investment portfolio formulated for a client's specific investment objectives or desired restrictions.

Institutional investor is a term for entities which pool money to purchase securities, real property, and other investment assets or originate loans.

Institutional investors include banks, insurance companies, pensions, hedge funds, REITs, investment advisors, endowments, and mutual funds.

Operating companies which invest excess capital in these types of assets may also be included in the term.

Activist institutional investors may also influence corporate governance by exercising voting rights in their investments.