Eaton Vance sets up in Asia, plans to source bank loans

Yet another fund-management firm has come to Asia with its eye on large institutional clients, but this one will be working on something a little different in addition to the traditional asset classes: bank loans. Sourcing bank loans and packaging them in fund form for institutions is one of Boston-based Eaton Vance's best known offerings. But the firm has realised that improving its coverage of Asia requires credit expertise on the ground. "Having an Asian presence will bring us clos…