On December 30, 2016, substantially all of the assets, business and goodwill of Calvert Investment Management, Inc. (CIM) were acquired by Calvert Research and Management (CRM), a newly-registered investment advisor and subsidiary of Eaton Vance Management (Eaton Vance). Eaton Vance, Inc. (EV) serves as trustee of CRM. Each of CRM, EV and Eaton Vance is a direct or indirect subsidiary of Eaton Vance Corp. (EVC), a Maryland corporation and publicly-held holding company. EVC through its subsidiaries and affiliates engages primarily in investment management, administration and marketing activities.
CRM’s purchase of the assets of Calvert Investments, Inc. included all technology, know-how, intellectual property and the Calvert Research System and processes. CRM also became the successor investment manager to the registered investment management companies that Calvert Investments, Inc. had been manager of prior to the transaction. In addition, CRM hired the vast majority of the employees that were part of Calvert Investments, Inc.’s sustainability research department. As a result, references related to the activity of Calvert Investments, Inc. prior to the purchase of its assets on December 30, 2016, are deemed herein to be the activity of CRM.
Eaton Vance's decision to make CRM the centerpiece of its expansion into responsible investing should place CRM in a strong position to deliver superior long-term performance to clients while positively impacting corporate behavior and society overall. By combining our expertise in sustainability research with Eaton Vance's investment capabilities, distribution strengths, and management resources, CRM will meaningfully become a better and more impactful company.
For the remainder of the reporting period, CIM, an ultimate subsidiary of Ameritas Mutual Holding, functioned as investment advisor for the Calvert Funds. This report reflects the work of CRM, and its predecessor CIM, throughout the 2016 reporting period.