BOSTON, Jan. 10, 2012 /PRNewswire/ -- Eaton Vance Tax-Managed Diversified Equity Income Fund (NYSE: ETY) (the "Fund"), a diversified, closed-end investment company, today announced the earnings of the Fund for the three months and year ended October 31, 2011. The Fund's fiscal year ended on October 31, 2011.

For the three months ended October 31, 2011, the Fund had net investment income of $3,504,354 ($0.023 per share). For the year ended October 31, 2011, the Fund had net investment income of $18,397,491 ($0.121 per share). In comparison, for the three months ended October 31, 2010, the Fund had net investment income of $3,525,292 ($0.023 per share). For the year ended October 31, 2010, the Fund had net investment income of $20,929,619 ($0.138 per share).

Net realized and unrealized losses for the three months ended October 31, 2011 were $107,436,802 ($0.706 per share). Net realized and unrealized losses for the year ended October 31, 2011 were $34,473,429 ($0.227 per share). In comparison, net realized and unrealized gains for the three months ended October 31, 2010 were $103,108,404 ($0.673 per share). Net realized and unrealized gains for the year ended October 31, 2010 were $143,560,744 ($0.941 per share).

On October 31, 2011, net assets of the Fund were $1,651,550,686. The net asset value per share on October 31, 2011 was $10.83 based on 152,472,416 shares outstanding. In comparison, on October 31, 2010, net assets of the Fund were $1,861,900,878. The net asset value per share on October 31, 2010 was $12.21 based on 152,472,416 shares outstanding.

The Fund periodically makes certain performance data and information about portfolio characteristics available on www.eatonvance.com (on the fund information page under "Individual Investors – Closed-End Funds"). Fund portfolio holdings for the most recent calendar quarter-end are also posted to the website approximately 30 days following quarter-end.

The Fund is managed by Eaton Vance Management, a subsidiary of Eaton Vance Corp. (NYSE: EV), based in Boston, one of the oldest investment management firms in the United States, with a history dating back to 1924. Eaton Vance and its affiliates managed $188.2 billion in assets as of October 31, 2011, offering individuals and institutions a broad array of investment strategies and wealth management solutions. The Company's long record of providing exemplary service and attractive returns through a variety of market conditions has made Eaton Vance the investment manager of choice for many of today's most discerning investors. For more information about Eaton Vance, visit www.eatonvance.com.

SOURCE Eaton Vance Management