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Eaton Vance acquires TABS business of MD Sass

The TABS business being acquired by Eaton Vance currently manages approximately $6.8 billion in client assets

Eaton Vance Management, a wholly owned subsidiary of Eaton Vance Corporation, has completed the acquisition of the tax advantaged bond strategies business of MD Sass Investors Services, a privately held investment manager based in New York.

 

The tax advantaged bond strategies (TABS) business being acquired by Eaton Vance currently manages approximately $6.8 billion in client assets.

 

Eaton Vance Corporation said that the TABS business will operate as the TABS division of Eaton Vance Management and will maintain its prior leadership, portfolio team and investment strategies.

 

Jim Evans, head of the TABS division, will report to Payson Swaffield, chief income investment officer of Eaton Vance.

 

Mr Swaffield, chief income investment officer of Eaton Vance, said: The focus of the TABS team on after-tax total return complements Eaton Vance’s traditional income-oriented municipal bond strategies. With TABS now part of Eaton Vance, we have a breadth of capabilities in tax-advantaged income investing unmatched by anyone in the industry.

 

Since its founding as a private money manager, Eaton Vance has gained insight into all aspects of the wealth management cycle — the creation and growth of wealth, the protection and preservation of its value and the ultimate distribution of wealth. It offers wealth management expertise to a wider range of individual and institutional investors through a variety of products and services designed to meet specific needs.