Proxy Voting

Proxy Voting Philosophy And Process

Eaton Vance Management (“EVM”) manages its clients’ assets with the overriding goal of seeking to provide consistent long-term returns consistent with governing laws and the investment policies of our clients. In pursuing that goal, we actively seek to exercise our clients’ rights as shareholders to support sound corporate governance of the companies held in our investment portfolios with the principle aim of maintaining or enhancing these companies’ economic value.

Shareholders of a publicly traded company are not only entitled to participate in the economic growth and success of the corporation but they also have the right to vote on important corporate matters, such as the company's policies, practices and governance.

EVM believes that proxy voting and engagement are one of the most direct means by which investors can influence corporate behavior.

EVM has established guidelines (“Guidelines”) that are utilized in voting proxies on behalf of its clients. The Guidelines are updated periodically, reflect input from EVM’s Global Proxy Group and other EVM investment professionals, and are consistent with the views of EVM on corporate governance best practices. These Guidelines are designed to promote accountability of a company’s management and board of directors to its shareholders and to align the interests of management with those of shareholders.

The members of the Global Proxy Group currently include the Chief Equity Investment Officer of EVM and selected members of the Equity Departments of EVM and Eaton Vance Advisers International Ltd. (“EVAIL”), as well as EVM’s Global Income Department.

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Proxy Voting Guidelines & Fund Voting Summary

EVM believes that our clients, including owners of the funds we manage, should have the opportunity to understand how we make voting decisions for proposals by companies held in fund investment portfolios. Proxy voting guidelines and reporting for other advisory clients is governed by the terms of the respective advisory agreement.