Eaton Vance Funds Seek Trustee Elections Ahead of Jan. 7 Annual Meeting

TL;DR

**EVV's proxy filing is a routine governance check, but the specific trustee elections, especially for preferred shareholders, are a key signal for long-term stability and oversight.**

AI Summary

Eaton Vance Limited Duration Income Fund (EVV) filed a DEF 14A on November 25, 2025, primarily to solicit proxies for its Annual Meeting of Shareholders on January 7, 2026. The core agenda is the election of Trustees, with specific nominees for different share classes. For EVV, two Class II Trustees, Keith Quinton and Susan J. Sutherland, are to be elected by holders of Common Shares and Auction Preferred Shares (APS) voting together. Additionally, Nancy Wiser Stefani is nominated as a Class II Trustee to be elected solely by APS holders. The filing details the current Board of nine noninterested Trustees, their tenures, and principal occupations, such as Alan C. Bowser, a private investor and former Co-Head of the Americas Region at Bridgewater Associates. As of October 28, 2025, EVV had 116,203,460 Common Shares and 8,640 APS outstanding. No Trustee held shares directly in the Funds, but all nine noninterested Trustees beneficially owned 'Over $100,000' in equity securities across the Eaton Vance family of funds. The Board emphasizes its oversight of investment, compliance, operational, and valuation risks, supported by six committees.

Why It Matters

This DEF 14A outlines the governance structure of Eaton Vance Limited Duration Income Fund, a critical aspect for investors assessing leadership stability and oversight. The election of specific Class II Trustees, including Keith Quinton and Susan J. Sutherland for common and preferred shareholders, and Nancy Wiser Stefani for preferred shareholders, directly impacts the fund's strategic direction and risk management. For employees and customers, a well-governed fund signals stability and adherence to best practices. In a competitive market, strong independent oversight, as evidenced by the nine noninterested Trustees, can differentiate Eaton Vance from peers and potentially enhance investor confidence.

Risk Assessment

Risk Level: low — The filing is a routine proxy statement for trustee elections, indicating no immediate financial or operational risks. The Board consists of nine noninterested Trustees, suggesting robust independent oversight. The primary risk is shareholder apathy, as the filing emphasizes the importance of returning proxy cards promptly to avoid additional solicitation expenses.

Analyst Insight

Investors should review the qualifications of the nominated Trustees, particularly Nancy Wiser Stefani for APS holders, to ensure alignment with their investment objectives. Promptly return proxy cards to ensure shares are represented and to avoid unnecessary fund expenses.

Key Numbers

• 116,203,460 — Common Shares Outstanding (For Eaton Vance Limited Duration Income Fund as of October 28, 2025)
• 8,640 — Auction Preferred Shares (APS) Outstanding (For Eaton Vance Limited Duration Income Fund as of October 28, 2025)
• 9 — Number of Trustees (Fixed number of Trustees on each Board, all noninterested)
• 2026-01-07 — Annual Meeting Date (Date of the Annual Meeting of Shareholders)
• 2025-10-28 — Record Date (Date for determining shareholders entitled to vote at the Annual Meeting)
• Over $100,000 — Trustee Equity Ownership (Aggregate dollar range of equity securities beneficially owned by each Trustee in the Eaton Vance family of funds)

Key Players & Entities

• Eaton Vance Limited Duration Income Fund (company) — Registrant for DEF 14A filing
• Eaton Vance National Municipal Opportunities Trust (company) — Co-registrant for DEF 14A filing
• Kenneth A. Topping (person) — President of Eaton Vance Limited Duration Income Fund
• Nicholas S. Di Lorenzo (person) — Secretary of the Boards of Trustees of the Funds
• Keith Quinton (person) — Nominee for Class II Trustee for EVV Common and APS holders
• Susan J. Sutherland (person) — Nominee for Class II Trustee for EVV Common and APS holders
• Nancy Wiser Stefani (person) — Nominee for Class II Trustee for EVV APS holders
• Alan C. Bowser (person) — Noninterested Trustee, formerly Co-Head of the Americas Region at Bridgewater Associates
• Securities and Exchange Commission (regulator) — Oversees SEC filings and regulations
• $100,000 (dollar_amount) — Minimum aggregate dollar range of equity securities beneficially owned by each noninterested Trustee in the Eaton Vance family of funds

FAQ

Industry Context

The closed-end fund industry, particularly those focused on income generation like the Eaton Vance Limited Duration Income Fund, operates within a competitive landscape where attracting and retaining assets is crucial. Trends include adapting to varying interest rate environments and investor demand for yield, while navigating regulatory oversight and operational complexities inherent in managing investment portfolios.

Regulatory Implications

As a registered investment company, the fund is subject to SEC regulations, including proxy solicitation rules and governance requirements. The election of Trustees is a core regulatory process ensuring proper oversight and shareholder representation, with compliance being paramount.

What Investors Should Do

1. Review the proxy statement carefully to understand the proposals, especially the election of Trustees.
2. Vote your shares by returning the proxy card promptly to ensure your vote is counted, even if you cannot attend the meeting.
3. Confirm your voting instructions and consider how to vote on the election of Trustees, as this impacts fund governance.

Key Dates

• 2026-01-07: Annual Meeting of Shareholders — Shareholders will vote on the election of Trustees. This is a key governance event for the fund.
• 2025-10-28: Record Date — Determines which shareholders are entitled to vote at the Annual Meeting.
• 2025-11-25: Proxy Statement Filing and Distribution — Informs shareholders about the Annual Meeting agenda and provides materials for proxy voting.

Glossary

DEF 14A

A filing with the U.S. Securities and Exchange Commission (SEC) that provides detailed information to shareholders when a company is soliciting proxies for its annual meeting. (This document is the primary source of information for shareholders regarding the Eaton Vance Limited Duration Income Fund's annual meeting and the election of Trustees.)

Trustee

A member of the Board of Trustees responsible for overseeing the fund's operations, investment strategies, and compliance. (The election of Trustees is the main purpose of the Annual Meeting, and their role is critical to shareholder interests.)

Auction Preferred Shares (APS)

A class of preferred stock that is periodically remarketed through an auction process, with dividends set based on the auction results. (APS holders have specific voting rights for certain Trustee elections, as detailed in the filing.)

Common Shares

The standard class of stock in a corporation or fund, representing ownership and typically carrying voting rights. (Common shareholders, along with APS holders, will vote on the election of two Class II Trustees.)

Proxy

A document that authorizes another person to act on behalf of a shareholder, typically to vote their shares at a meeting. (Shareholders are urged to return their proxy cards to ensure their vote is counted, even if they cannot attend the meeting.)

Class II Trustee

A trustee belonging to the second of three classes of trustees, with their term typically lasting three years. (The nominees for election are specifically identified as Class II Trustees.)

Year-Over-Year Comparison

This filing is a DEF 14A for the annual meeting, primarily focused on the election of Trustees. Specific financial performance metrics or comparisons to prior periods are not detailed within this proxy statement, as its purpose is governance-related rather than financial reporting.

Key Financial Figures

• $0.01 — f common shares of beneficial interest, $0.01 par value per share (“Common Shar
• $25,000 — value per share, liquidation preference $25,000 per share (“APS”), outstand
• $100,000 — erested Trustees Alan C. Bowser Over $100,000 Cynthia E. Frost Over $100,000 Geo
• $100,000 K — Over $100,000 Valerie A. Mosley Over $100,000 Keith Quinton Over $100,000 Marcus L.
• $100,000 M — ey Over $100,000 Keith Quinton Over $100,000 Marcus L. Smith Over $100,000 Nancy Wi
• $100,000 B — er $100,000 Scott E. Wennerholm Over $100,000 Board Meetings and Committees The Board

Filing Documents

• evldif-efp19737_def14a.htm (DEF 14A) — 212KB
• img_001.jpg (GRAPHIC) — 10KB
• img_002.jpg (GRAPHIC) — 2961KB
• img_003.jpg (GRAPHIC) — 1879KB
• img_004.jpg (GRAPHIC) — 2464KB
• img_005.jpg (GRAPHIC) — 1799KB
• img_006.jpg (GRAPHIC) — 2540KB
• img_007.jpg (GRAPHIC) — 1681KB
• 0001133228-25-012732.txt ( ) — 17685KB

From the Filing

DEF 14A 1 evldif-efp19737_def14a.htm EATON VANCE LIMITED DURATION INCOME FUND - DEF 14A UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 SCHEDULE 14A (Rule 14a-101) INFORMATION REQUIRED IN PROXY STATEMENT SCHEDULE 14A INFORMATION Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No. ) Filed by the Registrant Filed by a Party other than the Registrant Check the appropriate box: Preliminary Proxy Statement Confidential, For Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) Definitive Proxy Statement Definitive Additional Materials Soliciting Material Pursuant to Section 240.14a-12 Eaton Vance Limited Duration Income Fund Eaton Vance National Municipal Opportunities Trust (Name of Registrant as Specified in Its Charter) (Name of Person(s) Filing Proxy Statement, if Other Than the Registrant) Payment of Filing Fee (Check the appropriate box): No fee required. Fee computed on table below per Exchange Act Rules 14a-6(i) (1) and 0-11. Eaton Vance Limited Duration Income Fund Eaton Vance National Municipal Opportunities Trust   One Post Office Square Boston, Massachusetts 02109 November 25, 2025   Dear Shareholder: You are cordially invited to attend the Annual Meeting of Shareholders (the “Annual Meeting”) of your Fund, which will be held at the principal office of each Fund, One Post Office Square, Boston, Massachusetts 02109, on Wednesday, January 7, 2026 at 11:30 a.m. (Eastern Time). At the Annual Meeting, you will be asked to consider the election of Trustees of each of Eaton Vance Limited Duration Income Fund and Eaton Vance National Municipal Opportunities Trust. The enclosed proxy statement contains additional information. I 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. I urge you to complete, sign and date the applicable enclosed proxy card and return it in the enclosed postage-paid envelope as soon as possible to ensure that your shares are represented at the Annual Meeting. Sincerely, /s/ Kenneth A. Topping Kenneth A. Topping President YOUR VOTE IS IMPORTANT - PLEASE RETURN YOUR PROXY CARD PROMPTLY. It is important that your shares be represented at the Annual Meeting. Whether or not you plan to attend, you are requested to complete, date, sign and return the applicable enclosed proxy card as soon as possible. You may withdraw your proxy if you attend the Annual Meeting and desire to vote at the Annual Meeting. Eaton Vance Limited Duration Income Fund Eaton Vance National Municipal Opportunities Trust   NOTICE OF ANNUAL MEETING OF SHAREHOLDERS Important Notice Regarding the Availability of Proxy Materials for the Annual Meeting of Shareholders to be Held on Wednesday, January 7, 2026: The Notice of Annual Meeting of Shareholders, Proxy Statement, Proxy Card(s) and Shareholder Report(s) are available on the Eaton Vance website at https://funds.eatonvance.com/closed-end-fund-and-term-trust-documents.php. The Annual Meeting of Shareholders of each of the above registered investment companies, each a Massachusetts business trust (each, a “Fund” and together, the “Funds”), will be held at the principal office of each Fund, One Post Office Square, Boston, Massachusetts 02109, on Wednesday, January 7, 2026 at 11:30 a.m. (Eastern Time) (the “Annual Meeting”), for the following purposes:   (1) To elect Trustees of each Fund as outlined below: a. For Eaton Vance Limited Duration Income Fund: (i) two Class II Trustees, Keith Quinton and Susan J. Sutherland to be elected by the holders of the Fund’s Common Shares and Auction Preferred Shares, voting together as a single class. (ii) one Class II Trustee, Nancy Wiser Stefani, to be elected by the holders of the Fund’s Auction Preferred Shares, voting separately as a single class; and b. For Eaton Vance National Municipal Opportunities Trust, three Class II Trustees, Cynthia E. Frost, Keith Quinton and Nancy Wiser Stefani, to be elected by the shareholders of the Fund’s Common Shares. (2) To consider and act upon any other matters that may properly come before the Annual Meeting and any adjourned or postponed session thereof. Although each Fund is holding a separate meeting, the meetings will be held concurrently. Shareholders of each Fund will vote separately. Any such vote FOR or AGAINST a proposal will also authorize the persons named as proxies to vote accordingly FOR or AGAINST any such adjournment of the Annual Meeting. The Board of Trustees of each Fund has fixed the close of business on October 28, 2025 as the record date for the determination of the shareholders of a Fund entitled to notice of and to vote at the Annual Meeting and any adjournments or postponements thereof.

View Full Filing

View this DEF 14A filing on SEC EDGAR