Consider for:
All Weather:
Core portfolio solution
31/10/2011
Eaton Vance International (Ireland)
PPA Emerging Markets Equity Fund
Broad exposure to emerging market countries.
The Fund
The Fund’s rules‑based, top‑down
process seeks to take advantage of certain
quantitative and behavioral characteristics
of emerging markets. Emphasis is placed
on small and mid‑sized countries and
economic sectors.
The Approach
We equally weight countries within tiers
defined by size and liquidity. Larger,
more developed countries carry a greater
portfolio weighting than smaller, less
developed ones. As country weights are
rebalanced to target, we seek to sell into
market strength and buy into weakness.
The Benefits
The Fund seeks to capture gains
through systematic rebalancing, while
providing diversified exposure to over
40 different countries. The Fund also
seeks to maintain exposure across key
economic sectors.
Portfolio Data at 30/9/2011
GICS Sectors
vs. Benchmark1,2
Consumer
Discretionary
Consumer
Staples
Energy
Financials
Health Care
Industrials
Information
Technology
Materials
Telecomm
Services
Utilities
Cash
30
25
20
15
10
5
0
Fund
Benchmark
7.32
8.51
10.02
25.49
2.21
10.11
6.77
12.12
11.41
5.13
0.91
8.13
7.49
13.82
23.69
1.10
6.64
12.89
13.97
8.78
3.48
0.00
Benchmark: MSCI Emerging Markets Index2
Top 10 Holdings (%)1
Geographic Mix (%)1
America Movil SA
1.37
Asia/Pacific41.27
China Mobile Limited
1.08
Latin America
19.54
Gazprom1.04
Eastern Europe
17.82
MTN Group Ltd.
1.02
Africa10.97
Samsung Electronic
0.87
Middle East
10.40
Sberbank0.78
Petroleo Brasileiro Petrobras
0.66
CIA Vale Do Rio Doce Pref A
0.66
Taiwan Semiconductor Man.
0.60
Additional Data
CEZ0.56
Fund Facts
Fund Inception:
4/6/2008
Total Net Assets of Fund:
$1.19B
Minimum Investment Class A2$:
$1,000
Minimum Investment Class I2$:
$5,000,000
Median Market Cap:
Number of Holdings:
Countries Represented:
$2.39B
1,414
44
Total Expense Ratio as of 30/6/2011
Fund Codes
Class A2$ 1.90%
Class A2$ IE00B2NF8N44G2918S520 B2NF8N4
Class I2$
1.00%
Class I2$ ISIN CUSIP Sedol
IE00B2RKZ566G2918S660 B2RKZ56
*Class C and Class M shares also available. Complete details provided
upon request.
Percent of total net assets. Top 10 holdings exclude cash equivalents. Portfolio holdings are subject to change due to active management. Percentages may not total 100%
due to rounding. 2MSCI Emerging Markets Index is an unmanaged index of emerging markets common stocks. MSCI data may not be reproduced or used for any other
purpose. MSCI provides no warranties, has not prepared or approved this report, and has no liability hereunder. It is not possible to invest directly in an Index.
1
Eaton Vance International (Ireland) PPA Emerging Markets Equity Fund may not be offered or sold to citizens or residents of the United States. The Fund is not offered for sale or sold in the
United States, its territories or possessions.
Eaton Vance International (Ireland) PPA Emerging Markets Equity Fund
31/10/2011
% Average Annual Total Returns (as of 31/10/2011)
1 Mo.
3 Mo.
6 Mo.
YTD
1 Year
3 Years
Class A2$
12.73
-10.68
-15.20
-11.58
-8.82
20.68
Class I2$
12.83
-10.46
-14.83
-10.95
-8.01
Benchmark
13.25
-11.91
-15.91
-11.53
-7.72
5 Years
Life of Fund
—
1.64
21.74
—
-0.71
23.23
6.51
1.50*
*Benchmark since inception return number is based on the A2$ share class. A2$ share class inception date is 28/7/08. I2$ share class inception is 4/6/08.
% 12-Month Rolling Returns (A2$)
Fund
Benchmark
30/9/02
30/9/03
30/9/04
30/9/05
30/9/06
30/9/07
30/9/08
30/9/09
30/9/10
30/9/11
—
—
—
—
—
—
—
16.62
19.22
-16.52
19.07
20.22
-16.15
7.93
45.58
26.13
46.58
20.46
58.17
-33.20
Benchmark: MSCI Emerging Markets Index2
Fund’s Portfolio Management Team
David Stein, Ph.D
Chief Investment Officer, Parametric Portfolio
Associates
Joined Parametric Portfolio Associates 1996
Managed Fund since inception
Thomas Seto
Director of Portfolio Management, Parametric Portfolio
Associates
Joined Parametric Portfolio Associates 1998
Managed Fund since inception
Supported by: 5 Traders / Operations Specialists
3 Research Professionals
5 Portfolio Managers / Assistant Portfolio Managers
1 Business Development Manager
1 Portfolio Analyst
Primary Risks: Fund share values are sensitive to stock market volatility. Investments in non-U.S. instruments or currencies can involve greater risk
and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical or other conditions. In emerging market
countries, these risks may be more significant. No Fund is a complete investment program and you may lose money investing in a Fund. The Fund may
engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.
Past performance is not a reliable indicator of future results. Investment return and principal value will fluctuate so that shares, when redeemed, may be worth
more or less than their original cost. Performance is for the stated time period only; due to market volatility, the Fund performance may be lower or higher than
quoted. Returns are historical and are calculated by determining the percentage change in net asset value (NAV) with all distributions reinvested. Returns for
other classes of shares offered by the Fund are different. Performance less than one year is cumulative.
The Fund is a sub-fund of Eaton Vance International (Ireland) Funds plc (the “Company”),3 a public limited company with variable capital incorporated in
Ireland authorised and regulated by the Central Bank of Ireland as an Undertaking for Collective Investment in Transferable Securities (UCITS). The Company
offers several sub-funds (each a “Fund” and together the “Funds”). As a UCITS, the Company may apply for recognition by other EU Member States or elsewhere
and is a recognised scheme in the U.K. for the purposes of the Financial Services and Markets Act 2000. However, the Company does not have a place of business
in the United Kingdom and is not authorised under such Act and therefore investors will not be entitled to compensation under the U.K. Financial Services
Compensation Scheme. The Funds are distributed by Eaton Vance Management (International) Limited, and may employ Eaton Vance Distributors, Inc., Two
International Place, Boston, MA 02110, as a sub-distributor.
Eaton Vance Management (International) Limited is authorised and regulated in the United Kingdom by the Financial Services Authority. This document may
not be treated as constituting an invitation to subscribe for shares of a Fund in any jurisdiction. Copies of the latest prospectus or simplified prospectus issued
by the Company may be obtained free of charge from the offices of Citi Fund Services (Ireland) Limited, 1 North Wall Quay, Dublin 1, Ireland, or by calling
+353 1 637 6372, or from Eaton Vance Management (International) Limited, 125 Old Broad Street, London, EC2N 1AR, United Kingdom, or by calling
+44 (0)203.207.1900.
The Swiss representative and the Swiss paying agent of the Company is BNP Paribas Securities Services, Paris, succursale de Zurich, Selnaustrasse 16, 8002. Swiss
investors may obtain free copies of the latest prospectus and simplified prospectus, as well as the annual and semi-annual reports and articles of association, from
the offices of the Swiss representative.
Prior to 15/10/2010, the Company name was Eaton Vance Emerald Funds plc.
3
Eaton Vance International (Ireland) PPA Emerging Markets Equity Fund may not be offered or sold to citizens or residents of the United States. The Fund is not offered for sale or sold in the
United States, its territories or possessions.
©2011 Eaton Vance Management (International) Ltd., 125 Old Broad Street, London, EC2N 1AR, United Kingdom
Telephone: +44 (0)203.207.1900
Fax: +44 (0)207.256.9794
internationalenquiries@eatonvance.com
3147-11/11 E-PPAEMEFS