Eaton Vance Floating-Rate Income Trust Business Summary

Eaton Vance Floating-Rate Income Trust (EFT) operates as a closed-end management investment company that generates revenue primarily through interest income derived from a diversified portfolio of senior, secured floating-rate loans. The Trust’s business model focuses on providing high current income by investing at least 80% of its total assets in floating-rate loans of domestic and foreign borrowers, often utilizing structural leverage through the issuance of preferred shares and debt to enhance shareholder returns. Its primary business segment is the senior loan market, targeting corporate borrowers across various industrial sectors to mitigate interest-rate risk through low-duration assets. EFT competes directly with other major floating-rate closed-end funds such as the BlackRock Floating Rate Income Strategies Fund (FRA), Invesco Senior Income Trust (VVR), and the Nuveen Senior Income Fund (NSL), positioning itself as a premier institutional-grade vehicle that leverages the specialized credit research and long-standing loan-market expertise of its advisor, Eaton Vance Management. The Trust is overseen by a leadership team led by Kenneth Topping, who serves as President, and James Kirchner, the Treasurer. The investment portfolio is managed by a specialized team of Managing Directors including Peter M. Campo and Daniel P. McElaney, following the recent transition of long-time managers Andrew Sveen and Catherine McDermott in late 2025. Governance is provided by a Board of Trustees chaired by Scott Wennerholm, with notable members including Valerie Mosley and Marcus Smith. EFT is a subsidiary of Morgan Stanley Investment Management, which acquired the Trust’s parent company, Eaton Vance Corp. (founded in 1924 by Charles F. Eaton Jr.), in 2021. This pedigree provides the Trust with the institutional backing of one of the world’s largest asset managers while maintaining the legacy of Eaton Vance’s pioneering role in the floating-rate loan asset class since 1989.