Calvert announces plans to launch Calvert Unconstrained Bond Fund

By Toni Weeks

San Luis Obispo, Calif., July 17 – Calvert Investments plans to launch its new Calvert Unconstrained Bond Fund in September, according to an N-1A filing with the Securities and Exchange Commission.

The fund will seek positive absolute returns over a full market cycle, regardless of market conditions, by using various investment strategies to allocate investments across global fixed-income markets, without being constrained by portfolio management relative to an index.

Under normal circumstances, the fund will invest at least 80% of its net assets in bonds and/or instruments, including derivative instruments, that provide exposure to bonds. Investments may include bonds of any maturity and may include bonds issued by, among others, U.S. corporations, the U.S. government or its agencies, U.S. government-sponsored entities, debt or debt-related securities issued by foreign governments and corporations, trust preferred securities, taxable municipal securities, convertible bonds and asset-backed securities. The fund expects to limit its investment in high-yield debt securities to no more than 75% of its net assets. It will avoid investing in companies classified as part of the tobacco industry.

Catherine P. Roy, Vishal Khanduja, Matthew Duch, Stephen N. Van Order and Brian S. Ellis will comprise the portfolio management team.

The fund will offer class A, class C and class Y shares. The ticker symbols have not yet been set.

Class A shares will incur a maximum sales load of 3.75%, while class C shares will be subject to a maximum deferred sales load of 1%. There will also be a 2% redemption fee on shares from any share class redeemed or exchanged within 30 days of purchase.

Bethesda, Md.-based Calvert Investment Management, Inc. will be the investment adviser to the fund.

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