DEF: Eaton Vance Floating-Rate Income Trust Announces Annual Meeting of Shareholders

Eaton Vance Floating-Rate Income Trust has scheduled its Annual Meeting of Shareholders for March 12, 2025, to elect Trustees and address other business matters.

Summary

• Eaton Vance Floating-Rate Income Trust will hold its Annual Meeting of Shareholders on March 12, 2025, in Boston.
• The primary purpose of the meeting is to elect three Class III Trustees.
• Two Trustees, Mark R. Fetting and Marcus L. Smith, will be elected by holders of Common Shares and Variable Rate Term Preferred Shares (VRTPS) voting together.
• One Trustee, Valerie A. Mosley, will be elected by holders of VRTPS voting separately.
• The record date for determining shareholders eligible to vote is December 30, 2024.
• As of December 30, 2024, there were 26,444,869 common shares and 800 VRTPS outstanding.
• Shareholders are encouraged to submit their proxies promptly to ensure their shares are represented at the meeting.

Sentiment

Score: 7

Explanation: The document is neutral in tone, providing necessary information for the Annual Meeting. It is a routine communication, and there are no indications of significant positive or negative developments.

Positives

• The document provides clear instructions for shareholders on how to vote, either by proxy or in person.
• The Board of Trustees is composed of experienced professionals with diverse backgrounds.
• The document includes detailed information about the qualifications and experience of each Trustee nominee.
• The Fund has established several committees to oversee various aspects of its operations, including audit, contract review, and portfolio management.
• The Fund has a clear process for shareholders to communicate with the Board of Trustees.

Negatives

• The document notes that none of the Trustees attended the Funds 2024 Annual Meeting of Shareholders.
• The document mentions that the officers of the Fund will benefit from advisory and administration fees paid by the Fund to Eaton Vance.

Risks

• The document acknowledges that the Fund is subject to various risks, including investment, compliance, operational, and valuation risks.
• The document states that it is not possible to identify all risks that may affect the Fund or to develop processes to eliminate or mitigate all risks.
• The document notes that the officers of the Fund may have conflicts of interest due to their positions with Eaton Vance.

Future Outlook

The document does not contain specific forward-looking statements about the Fund's future performance, but it outlines the process for electing Trustees and conducting the Annual Meeting.

Management Comments

• Kenneth A. Topping, President, urges shareholders to complete and return their proxy cards promptly.
• The Board of Trustees recommends that shareholders vote FOR the election of the Trustee nominees.

Industry Context

This document is a standard proxy statement for a closed-end investment fund, outlining the procedures for an annual meeting and the election of trustees, which is a common practice in the investment management industry.

Comparison to Industry Standards

• The structure of the Board of Trustees, with a majority of non-interested members, aligns with industry best practices for investment companies.
• The establishment of various committees, such as the Audit Committee and Governance Committee, is consistent with corporate governance standards for publicly traded funds.
• The disclosure of Trustee compensation and share ownership is in line with regulatory requirements and industry norms.
• The process for shareholder communication and proposal submission is typical for investment companies.

Stakeholder Impact

• Shareholders will have the opportunity to vote on the election of Trustees.
• The election of Trustees will impact the governance and oversight of the Fund.
• The Fund's performance and management will affect shareholder returns.

Next Steps

• Shareholders are to vote on the election of Trustees.
• The Annual Meeting will be held on March 12, 2025.
• The Board will continue to oversee the Fund's operations and performance.

Key Dates

Keywords

Annual Meeting, Trustees, Proxy Statement, Shareholders, Eaton Vance, Voting, Board of Trustees, Investment Company, Fund