Eaton Vance Management and Invesco PowerShares have unveiled new investment products tied to the government’s Build America Bonds stimulus program, which seeks to spur construction and repair projects by state and local governments.
Eaton Vance is launching an actively managed mutual fund called the Eaton Vance Build America Bond Fund. Invesco said trading of an exchange-traded fund, the PowerShares Build America Bond Portfolio, began yesterday.
Eaton Vance Management, a subsidiary of Boston-based Eaton Vance Corp., said its product is the first actively managed mutual fund to invest in taxable municipal obligations under the federal program.
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