BOSTON, Dec. 17, 2012 /PRNewswire/ -- Eaton Vance Management, a subsidiary of Eaton Vance Corp. (NYSE: EV), announced today that it will close Eaton Vance Atlanta Capital SMID-Cap Fund (Class A: EAASX, Class C: ECASX, Class I: EISMX, Class R: ERSMX) to new investors as of the close of business on Tuesday, January 15, 2013.  Shares of the Fund may be purchased thereafter only by existing Fund shareholders, qualified retirement plans and fee-based advisory programs with centralized investment discretion that have selected the Fund as an investment option prior to the closing.  Sales of Fund shares may be further restricted or re-opened in the future.

The Fund is sub-advised by Atlanta Capital Management Co. LLC (Atlanta Capital), a majority-owned subsidiary of Eaton Vance Corp. The Fund's portfolio managers are Charles (Chip) Reed, William Bell and Matthew Hereford. The Fund invests in small- to mid-cap stocks, emphasizing quality companies that management believes are attractively valued. As of November 30, 2012, the Fund had net assets of $3.3 billion.

"We are closing the Fund at this time because we believe doing so is in the best interest of shareholders," said Duncan Richardson, chief equity investment officer at Eaton Vance.

"The liquidity and size of some of the small-cap companies in which the Fund may invest constrain its capacity," added Mr. Reed.  

The Fund's portfolio team also manages Eaton Vance Atlanta Capital Select Equity Fund (Class A: ESEAX, Class I: ESEIX), which invests in companies of any size while employing the same emphasis on quality companies that management believes to be undervalued.

Atlanta Capital is an Atlanta-based investment advisory firm that specializes in managing high-quality stock and bond portfolios on behalf of institutional and individual investors. For over 40 years, Atlanta Capital has followed a consistent investment philosophy, applied across a range of equity and fixed-income investment strategies and successfully executed over a variety of market conditions. Hallmarks of Atlanta Capital include the experience and stability of its investment teams. Atlanta Capital has operated as an independently managed affiliate of Eaton Vance since 2001. As of October 31, 2012, Atlanta Capital managed $15.1 billion in client assets. 

Eaton Vance Corp (NYSE: EV) is one of the oldest investment management firms in the United States, with a history dating to 1924. Eaton Vance and its affiliates managed $199.5 billion in assets as of October 31, 2012, offering individuals and institutions a broad array of investment strategies and wealth management solutions. The Company's long record of providing exemplary service, timely innovation and attractive returns through a variety of market conditions has made Eaton Vance the investment manager of choice for many of today's most discerning investors. For more information about Eaton Vance, visit www.eatonvance.com.

About Risk--Fund share values are sensitive to stock market volatility. Smaller companies are generally subject to greater price fluctuations, limited liquidity, higher transaction costs and higher investment risk than larger, established companies. No Fund is a complete investment program and you may lose money investing in a Fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.

Before investing, investors should consider carefully the investment objective, risks, charges and expenses of a mutual fund. This and other important information is contained in the prospectus or summary prospectus, if available, which can be obtained from a financial advisor. Prospective investors should read the prospectus carefully before investing.

Not FDIC Insured. Not Bank Guaranteed.  May Lose Value.

The Fund is distributed by Eaton Vance Distributors, Inc. Member FINRA/SIPC, Two International Place, Boston, MA 02110. 

SOURCE Eaton Vance Management