BOSTON -- Eaton Vance, a mutual fund firm based in Boston, recently announced the formation of a tax-conscious fund designed specifically to educate children about saving and investing.
The Eaton Vance Tax-Managed Young Shareholder Fund aims to give adults a way to build a nest egg for their children and simultaneously reduce their own tax liability.
The fund's strategy is to invest in companies capable of outperforming the major market indexes in the long term.
A press release from the company said that the fund "avoids investments that it believes are inappropriate for young shareholders."
Eaton Vance also gives investors in the fund literature geared to children about saving and investing.