Eaton Vance will unveil a new muni bond fund in May 2011, MutualFundWire reports. The Eaton Vance Municipal Opportunities Fund will seek to invest about 50% of its assets in junk bonds and may also invest in derivatives. The Boston-based mutual fund firm’s vehicle will be managed by William Ahern, Craig Brandon, Cynthia Clemson, Thomas Metzold and Adam Weigold. BNY Mellon will serve as the transfer agent, while State Street will be the custodian.

Click here for the story from MutualFundWire.