Skip to Content
Sustainability Matters

Eaton Vance Makes Move Into Sustainable Investing

Acquisition of Calvert reflects heightened interest in ESG among conventional asset managers.


It was just a matter of time before a large asset manager gobbled up Calvert Investment Management. A small firm with a lineup of 25 sustainable and responsible mutual funds and $14 billion in assets under management, Calvert was widely thought to be getting readied for sale under CEO John Streur, who came to the firm in 2014. Eaton Vance announced last week it was acquiring Calvert, which had been an indirect subsidiary of Ameritas.

The acquisition reflects the ongoing mainstreaming of sustainable and responsible investing in the United States. Having been the province of a few deeply committed boutique firms, the field is becoming increasingly attractive to conventional asset managers who see it as a way to engage the next generation of investors. Making matters more urgent, firms dependent on active management are under intense pressure created by the tide of money flowing to low-cost index funds and exchange-traded funds. One response for larger firms is to increase scale, in this case, by adding new expertise in an investment area that seems poised for growth. And one response for smaller firms is to be acquired. Thus, Eaton Vance has joined firms like BlackRock, John Hancock, Nuveen, and SSgA by getting involved in this space, with more firms likely to come.

Jon Hale does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.

Transparency is how we protect the integrity of our work and keep empowering investors to achieve their goals and dreams. And we have unwavering standards for how we keep that integrity intact, from our research and data to our policies on content and your personal data.

We’d like to share more about how we work and what drives our day-to-day business.

We sell different types of products and services to both investment professionals and individual investors. These products and services are usually sold through license agreements or subscriptions. Our investment management business generates asset-based fees, which are calculated as a percentage of assets under management. We also sell both admissions and sponsorship packages for our investment conferences and advertising on our websites and newsletters.

How we use your information depends on the product and service that you use and your relationship with us. We may use it to:

  • Verify your identity, personalize the content you receive, or create and administer your account.
  • Provide specific products and services to you, such as portfolio management or data aggregation.
  • Develop and improve features of our offerings.
  • Gear advertisements and other marketing efforts towards your interests.

To learn more about how we handle and protect your data, visit our privacy center.

Maintaining independence and editorial freedom is essential to our mission of empowering investor success. We provide a platform for our authors to report on investments fairly, accurately, and from the investor’s point of view. We also respect individual opinions––they represent the unvarnished thinking of our people and exacting analysis of our research processes. Our authors can publish views that we may or may not agree with, but they show their work, distinguish facts from opinions, and make sure their analysis is clear and in no way misleading or deceptive.

To further protect the integrity of our editorial content, we keep a strict separation between our sales teams and authors to remove any pressure or influence on our analyses and research.

Read our editorial policy to learn more about our process.