Parametric launches Dividend Income Fund
Parametric Portfolio Associates has launched the Parametric Dividend Income Fund.
Eaton Vance Management is the fund's investment adviser and Parametric serves as the fund's sub-adviser.
The fund is co-managed by David M Stein, chief investment officer of Parametric, and Thomas Seto, managing director, portfolio management.
In managing the fund, the portfolio managers employ a top-down, disciplined and systematic investment process that emphasises a diversified portfolio of quality companies that have historically demonstrated high current income and lower levels of stock price volatility on a sector relative basis.
To achieve broad diversification, each industry sector generally receives an equal weight. The top ranked securities within each sector based on the sub-adviser's yield and volatility screening are also generally equal weighted.
The portfolio may be rebalanced on a periodic basis to maintain diversification, and is reconstituted on an annual basis.
"We are excited to offer a new strategy that provides clients with a diversified equity income strategy," says Parametric chief executive officer, Brian Langstraat. "The strategy emphasises durable dividend payers while avoiding the potential consequences of sector concentrations."
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