DEF: Eaton Vance Funds Seek Trustee Elections

Eaton Vance Short Duration Diversified Income Fund and Tax-Advantaged Global Dividend Opportunities Fund announce their Annual Meeting of Shareholders to elect Trustees on February 5, 2026.

Summary

• The Annual Meeting of Shareholders for Eaton Vance Short Duration Diversified Income Fund and Eaton Vance Tax-Advantaged Global Dividend Opportunities Fund is scheduled for Thursday, February 5, 2026, at 11:30 a.m. Eastern Time.
• Shareholders will vote on the election of Trustees for each Fund.
• For the Short Duration Fund, Valerie A. Mosley, Marcus L. Smith, and Nancy Wiser Stefani are nominated as three Class III Trustees.
• For the Tax-Advantaged Fund, Cynthia E. Frost, Valerie A. Mosley, and Scott E. Wennerholm are nominated as three Class I Trustees.
• The Board of Trustees recommends that shareholders vote FOR the election of all nominated Trustees.
• The record date for determining shareholders entitled to notice of and to vote at the Annual Meeting is November 25, 2025.
• As of November 25, 2025, the Short Duration Fund had 13,456,906 common shares outstanding, and the Tax-Advantaged Fund had 16,388,138 common shares outstanding.
• Total estimated proxy solicitation costs are approximately $19,235, which will be borne pro rata by the Funds.

Sentiment

Score: 5

Explanation: The filing is a routine corporate governance document (proxy statement) for the annual election of trustees, containing no new material financial or operational information that would significantly alter sentiment.

Positives

• A well-defined corporate governance structure is in place, including a Board of nine noninterested Trustees and six specialized committees (Audit, Contract Review, Governance, Portfolio Management, Compliance Reports and Regulatory Matters, Closed-End Fund).
• The Board actively oversees investment, compliance, operational, and valuation risks, relying on reports from management and service providers.
• Trustees possess extensive experience in financial services, investment management, and public accounting, with several holding CFA or CPA designations.
• The Audit Committee has a robust charter, outlining clear responsibilities for financial reporting oversight, independent auditor engagement, and internal controls.
• The Board considers overall diversity in its composition, with six of nine currently serving noninterested Trustees bringing gender and/or racial diversity.
• A deferred compensation plan is available for noninterested Trustees, aligning their interests with fund performance.

Negatives

• The unexpected passing of Mr. Mark R. Fetting, a Trustee and Chairperson of the Board since 2025, on August 9, 2025, necessitates a change in leadership and board composition.

Risks

• Funds are subject to various inherent risks, including investment, compliance, operational, and valuation risks.
• Reliance on third-party service providers (investment adviser, administrator, principal underwriter, Chief Compliance Officer) for day-to-day oversight introduces dependency risks.
• It is not possible to identify all potential risks or to eliminate or mitigate all occurrences, especially investment-related risks necessary to achieve fund goals.
• Potential for conflicts of interest with service providers (including Eaton Vance or any affiliated entity thereof) is acknowledged and reviewed by the Contract Review Committee.

Future Outlook

The Funds anticipate continuing their established corporate governance practices, including regular Board and committee meetings, and ongoing oversight of investment performance, risk management, and compliance. The election of the nominated Trustees is expected to ensure continuity in Board leadership and strategic direction.

Management Comments

• We hope that you will be able to attend the Annual Meeting. Whether or not you plan to attend and regardless of the number of shares you own, it is important that your shares be represented.
• Your vote is important please return your proxy card promptly.

Industry Context

The proxy statement reflects standard corporate governance practices for U.S. registered investment companies, particularly closed-end funds, which regularly hold annual meetings to elect trustees and ensure ongoing oversight of fund operations, investment strategies, and compliance with regulatory requirements. The detailed disclosure of trustee qualifications, committee structures, and compensation is typical for SEC-regulated entities, emphasizing transparency and accountability to shareholders.

Comparison to Industry Standards

• The Board's composition of nine noninterested Trustees and its division into three classes with three-year terms is a common structure for investment funds, designed to provide stability and independent oversight.
• The establishment of six specialized committees (Audit, Contract Review, Governance, Portfolio Management, Compliance Reports and Regulatory Matters, Closed-End Fund) aligns with best practices for comprehensive governance in the investment management industry, ensuring focused attention on critical areas such as financial integrity, contractual relationships, investment performance, regulatory adherence, and specific closed-end fund considerations.
• The policy requiring noninterested Trustees to retire by age 76 or after 20 years of service is a common practice to ensure board refreshment and maintain an active, engaged board.
• The compensation structure for Trustees, including annual retainers and additional fees for committee service and chairmanships, is comparable to that of other large fund complexes, reflecting the significant time commitment and expertise required for effective oversight.

Management Changes

Corporate Governance

Related Party Transactions

• Officers of the Funds, due to their positions with Eaton Vance Management (an indirect, wholly owned subsidiary of Morgan Stanley) and ownership of Morgan Stanley stock, benefit from advisory and/or administration fees paid by each Fund to Eaton Vance.

Stakeholder Impact

• Shareholders are directly impacted by the request to vote on Trustee elections, which influences the governance and oversight of their investments. The proxy solicitation aims to ensure their representation.
• Trustees will continue their roles if elected, while the unexpected passing of a Chairperson necessitates a transition. All noninterested Trustees receive compensation for their services.
• Management and Officers' roles and responsibilities in managing the Funds and their relationship with Eaton Vance are reaffirmed. They benefit from advisory and administration fees.
• Service Providers, including Eaton Vance (as investment adviser and administrator) and Deloitte & Touche LLP (as independent auditor), continue their engagements, with their fees disclosed.

Next Steps

• Shareholders are requested to complete, sign, and return their proxy cards promptly to ensure their shares are represented at the Annual Meeting.
• The Annual Meeting will be held on February 5, 2026, for the election of Trustees and to consider any other matters that may properly come before the meeting.
• Shareholders wishing to submit proposals for the 2027 Annual Meeting must adhere to specific deadlines: September 1, 2026, for Rule 14a-8 proposals, and between October 8, 2026, and November 7, 2026, for proposals outside Rule 14a-8.

Key Dates

Recommendation

This is a routine proxy statement for the annual election of trustees, providing no new material financial or operational information that would alter an investment decision. The governance structure appears sound, and the proposed trustee elections are standard procedure.

Keywords

Eaton Vance, Short Duration Diversified Income Fund, Tax-Advantaged Global Dividend Opportunities Fund, Proxy Statement, DEF 14A, Trustee Election, Corporate Governance, Investment Fund, SEC Filing, Shareholder Meeting