Investment Overview

Return potential is improved with rigorous fundamental analysis that captures specific investment opportunities
Fundamental credit analysis that integrates proprietary environmental, social and governance (ESG) research can help manage downside risk
Disciplined portfolio construction may help risk-adjusted performance
We believe significant experience and specialization in floating-rate loans is critical to adding value
Modest and prudent use of leverage allows for attractive yield enhancement potential over the long term

Calvert's Four Pillars of Responsible Investing

Our first responsibility is to seek strong portfolio returns.
We conduct deep, proprietary research focused on material ESG issues.
As shareholders, we actively engage with companies to help drive performance and social value.
We believe the impact of your investments should be material and measurable.

Portfolio Construction

Analysts assign relative risk rankings to each loan
Quintile ranking structure: 1 = lower risk, 5 = higher risk
Number of loans approximately equal weighted by risk quintile
Market value incrementally skewed toward lower risk
Initial position sizes range from 0.1% to 1.5% as determined by risk rank

Investment Team

Scott H. Page, CFA
37 years of industry experience
Managed Strategy Since Inception
BA, Williams College
MBA, Dartmouth College
Craig P. Russ, CFA
33 years of industry experience
Managed Strategy Since Inception
BA, Middlebury College
Catherine McDermott
Portfolio Manager
30 years of industry experience
Managed Strategy Since 2018
BA, Boston College


S&P/LSTA Leveraged Loan Index


Calvert Research and Management is an SEC registered investment adviser and wholly owned subsidiary of Eaton Vance Management.