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Eaton Launching U.S. Leveraged Debt Fund

Boston, Massachusetts-based investment management firm Eaton Vance Corp. is launching its first Australian-domiciled fund which will invest in U.S. leveraged debt.

Boston, Massachusetts-based investment management firm Eaton Vance Corp. is launching its first Australian-domiciled fund which will invest in U.S. leveraged debt, Bloomberg reports. The vehicle will basically purchase floating-rate senior U.S. dollar loans linked to the London interbank offered rate.

The Australian investors, who are converting the income into their own currency, will get Australian short-term money market rates and the yield premium from the loan investments. The mutual fund manager, which oversaw $26.4 billion floating-rate loan assets as of June, is aiming to grow its Australian fund to $1 billion over the coming two to three years.

Click here for the story from Bloomberg.

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