-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, RiuQ18Tt8+S+T35eGeLEn/VnxTI6fGzEk9kuIYjbzy7/l2aZG87Bpu4UvwdBZGQv pqXCsUTPJB6oSBOoju47Vg== 0000950123-10-097306.txt : 20101028 0000950123-10-097306.hdr.sgml : 20101028 20101028135413 ACCESSION NUMBER: 0000950123-10-097306 CONFORMED SUBMISSION TYPE: N-CSR PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20100831 FILED AS OF DATE: 20101028 DATE AS OF CHANGE: 20101028 EFFECTIVENESS DATE: 20101028 FILER: COMPANY DATA: COMPANY CONFORMED NAME: GLOBAL GROWTH PORTFOLIO CENTRAL INDEX KEY: 0000946464 IRS NUMBER: 000000000 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: N-CSR SEC ACT: 1940 Act SEC FILE NUMBER: 811-07303 FILM NUMBER: 101147423 BUSINESS ADDRESS: STREET 1: TWO INTERNATIONAL PLACE CITY: BOSTON STATE: MA ZIP: 02110 BUSINESS PHONE: 617-482-8260 MAIL ADDRESS: STREET 1: TWO INTERNATIONAL PLACE CITY: BOSTON STATE: MA ZIP: 02110 FORMER COMPANY: FORMER CONFORMED NAME: INFORMATION AGE PORTFOLIO DATE OF NAME CHANGE: 19950608 0000946464 S000005231 GLOBAL GROWTH PORTFOLIO C000014256 GLOBAL GROWTH PORTFOLIO N-CSR 1 b83007a1nvcsr.htm EATON VANCE GLOBAL GROWTH PORTFOLIO Eaton Vance Global Growth Portfolio
 
 
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act File Number: 811-07303
Global Growth Portfolio
(Exact Name of Registrant as Specified in Charter)
Two International Place, Boston, Massachusetts 02110
(Address of Principal Executive Offices)
Maureen A. Gemma
Two International Place, Boston, Massachusetts 02110
(Name and Address of Agent for Services)
(617) 482-8260
(Registrant’s Telephone Number)
August 31
Date of Fiscal Year End
August 31, 2010
Date of Reporting Period
 
 

 


 

Item 1. Reports to Stockholders

 


 

Global Growth Portfolio as of August 31, 2010
 
PORTFOLIO OF INVESTMENTS
 
                     
Common Stocks — 63.0%
 
Security   Shares     Value      
 
 
 
Automobiles — 1.8%
 
Bayerische Motoren Werke AG
    3,100     $ 162,883      
Fiat SpA
    8,300       96,715      
Honda Motor Co., Ltd. 
    10,000       331,222      
Nissan Motor Co., Ltd.(1)
    33,000       251,526      
 
 
            $ 842,346      
 
 
 
 
Beverages — 1.3%
 
Central European Distribution Corp.(1)(2)
    11,200     $ 256,256      
Fomento Economico Mexicano SA de CV ADR
    6,800       331,160      
 
 
            $ 587,416      
 
 
 
 
Building Products — 0.3%
 
Wienerberger AG(1)(2)
    9,040     $ 116,904      
 
 
            $ 116,904      
 
 
 
 
Capital Markets — 2.3%
 
3i Group PLC
    26,000     $ 103,411      
State Street Corp. 
    21,300       747,204      
UBS AG(1)
    13,200       221,468      
 
 
            $ 1,072,083      
 
 
 
 
Chemicals — 1.6%
 
Agrium, Inc. 
    5,000     $ 347,850      
Albemarle Corp.(2)
    3,700       148,333      
BASF SE
    4,200       220,902      
 
 
            $ 717,085      
 
 
 
 
Commercial Banks — 5.9%
 
Barclays PLC
    81,000     $ 371,873      
BNP Paribas
    6,700       415,074      
BOC Hong Kong Holdings, Ltd. 
    205,000       541,379      
DBS Group Holdings, Ltd. 
    60,000       616,306      
KBC Groep NV(1)
    5,300       218,797      
Mitsubishi UFJ Financial Group, Inc. 
    39,000       184,919      
Societe Generale
    3,900       196,669      
TCF Financial Corp.(2)
    1,700       24,276      
Turkiye Is Bankasi
    45,000       163,750      
 
 
            $ 2,733,043      
 
 
 
Commercial Services & Supplies — 0.2%
 
Copart, Inc.(1)(2)
    2,500     $ 82,625      
 
 
            $ 82,625      
 
 
 
 
Communications Equipment — 1.3%
 
Brocade Communications Systems, Inc.(1)(2)
    54,979     $ 275,994      
Research In Motion, Ltd.(1)(2)
    7,445       319,093      
 
 
            $ 595,087      
 
 
 
 
Computers & Peripherals — 0.3%
 
Toshiba Corp.(1)
    32,000     $ 150,411      
 
 
            $ 150,411      
 
 
 
 
Construction & Engineering — 0.7%
 
Shaw Group, Inc. (The)(1)(2)
    4,316     $ 139,838      
Vinci SA
    4,000       174,618      
 
 
            $ 314,456      
 
 
 
 
Consumer Finance — 0.7%
 
ORIX Corp. 
    4,000     $ 300,776      
 
 
            $ 300,776      
 
 
 
 
Diversified Consumer Services — 1.7%
 
Coinstar, Inc.(1)(2)
    18,400     $ 800,400      
 
 
            $ 800,400      
 
 
 
 
Diversified Telecommunication Services — 1.4%
 
Koninklijke KPN NV
    15,100     $ 218,315      
Telefonica SA
    19,100       422,145      
 
 
            $ 640,460      
 
 
 
 
Electric Utilities — 0.5%
 
Hongkong Electric Holdings, Ltd. 
    38,000     $ 231,584      
 
 
            $ 231,584      
 
 
 
 
Electrical Equipment — 1.5%
 
ABB, Ltd. ADR(1)
    16,300     $ 315,731      
Harbin Electric, Inc.(1)(2)
    23,100       390,159      
 
 
            $ 705,890      
 
 
 

 
See notes to financial statements

16


 

 
Global Growth Portfolio as of August 31, 2010
 
PORTFOLIO OF INVESTMENTS CONT’D
 
                     
Security   Shares     Value      
 
 
 
Electronic Equipment, Instruments & Components — 2.1%
 
FUJIFILM Holdings Corp. 
    20,200     $ 613,036      
Hon Hai Precision Industry Co., Ltd. 
    70,000       246,818      
Nidec Corp. 
    1,300       114,498      
 
 
            $ 974,352      
 
 
 
 
Energy Equipment & Services — 1.3%
 
OAO TMK GDR(1)(3)
    13,100     $ 203,285      
Patterson-UTI Energy, Inc.(2)
    26,000       383,760      
 
 
            $ 587,045      
 
 
 
 
Food & Staples Retailing — 0.4%
 
Delhaize Group
    2,700     $ 180,459      
 
 
            $ 180,459      
 
 
 
 
Food Products — 3.9%
 
Flowers Foods, Inc.(2)
    11,000     $ 284,240      
Green Mountain Coffee Roasters, Inc.(1)(2)
    1,500       46,230      
H.J. Heinz Co.(2)
    12,700       587,248      
Nestle SA
    16,200       837,471      
Unilever PLC
    1,200       31,614      
 
 
            $ 1,786,803      
 
 
 
 
Health Care Equipment & Supplies — 1.0%
 
Masimo Corp.(2)
    10,600     $ 241,256      
Mindray Medical International, Ltd. ADR(2)
    4,000       108,000      
NuVasive, Inc.(1)(2)
    3,100       90,985      
 
 
            $ 440,241      
 
 
 
 
Health Care Providers & Services — 1.0%
 
AmerisourceBergen Corp.(2)
    8,300     $ 226,424      
Lincare Holdings, Inc.(2)
    10,800       248,616      
 
 
            $ 475,040      
 
 
 
 
Hotels, Restaurants & Leisure — 0.6%
 
Carnival PLC
    3,800     $ 122,884      
InterContinental Hotels Group PLC
    9,500       142,809      
 
 
            $ 265,693      
 
 
 
 
Household Durables — 0.7%
 
Desarrolladora Homex SAB de CV ADR(1)(2)
    11,900     $ 330,939      
 
 
            $ 330,939      
 
 
 
Household Products — 0.3%
 
Henkel AG & Co. KGaA
    3,000     $ 120,543      
 
 
            $ 120,543      
 
 
 
 
Industrial Conglomerates — 2.3%
 
Cookson Group PLC(1)
    40,000     $ 255,967      
Keppel Corp., Ltd. 
    99,000       656,090      
Siemens AG ADR
    1,800       162,954      
 
 
            $ 1,075,011      
 
 
 
 
Insurance — 1.4%
 
AXA SA ADR
    8,600     $ 132,784      
Fairfax Financial Holdings, Ltd. 
    210       82,513      
Swiss Reinsurance Co., Ltd. 
    5,100       210,587      
Zurich Financial Services AG
    1,000       222,213      
 
 
            $ 648,097      
 
 
 
 
Internet Software & Services — 0.4%
 
VeriSign, Inc.(1)(2)
    7,100     $ 206,823      
 
 
            $ 206,823      
 
 
 
 
IT Services — 0.2%
 
Amadeus IT Holding SA, Class A(1)
    4,403     $ 75,884      
 
 
            $ 75,884      
 
 
 
 
Machinery — 0.5%
 
Volvo AB(1)
    20,500     $ 236,343      
 
 
            $ 236,343      
 
 
 
 
Media — 1.2%
 
DIRECTV, Class A(1)(2)
    4,600     $ 174,432      
McGraw-Hill Cos., Inc. (The)(2)
    13,900       384,335      
 
 
            $ 558,767      
 
 
 
 
Metals & Mining — 2.5%
 
Anglo American PLC ADR
    16,510     $ 294,043      
Barrick Gold Corp.(2)
    6,200       289,912      
Thompson Creek Metals Co., Inc.(1)
    27,800       238,524      
Vale SA ADR
    14,000       330,680      
 
 
            $ 1,153,159      
 
 
 

 
See notes to financial statements

17


 

 
Global Growth Portfolio as of August 31, 2010
 
PORTFOLIO OF INVESTMENTS CONT’D
 
                     
Security   Shares     Value      
 
 
Multi-Utilities — 0.6%
 
RWE AG
    4,200     $ 274,902      
 
 
            $ 274,902      
 
 
 
 
Office Electronics — 1.0%
 
Canon, Inc. 
    10,900     $ 446,251      
 
 
            $ 446,251      
 
 
 
 
Oil, Gas & Consumable Fuels — 6.8%
 
Arch Coal, Inc.(2)
    10,700     $ 240,857      
BP PLC ADR(2)
    2,800       97,524      
Forest Oil Corp.(1)(2)
    9,600       250,752      
Hess Corp. 
    5,300       266,325      
INPEX Corp. 
    30       135,843      
James River Coal Co.(1)
    15,700       248,374      
KazMunaiGas Exploration Production GDR
    6,300       110,572      
Petroleo Brasileiro SA ADR
    14,200       419,752      
Rosetta Resources, Inc.(1)(2)
    6,545       128,937      
Rosneft Oil Co. GDR(1)(3)
    50,000       315,344      
Soco International PLC(1)
    45,000       323,815      
Statoil ASA ADR(2)
    9,795       183,558      
Total SA ADR
    8,900       415,185      
 
 
            $ 3,136,838      
 
 
 
 
Pharmaceuticals — 4.5%
 
AstraZeneca PLC ADR(2)
    6,400     $ 316,352      
Genomma Lab Internacional SAB de CV(1)
    63,000       112,164      
GlaxoSmithKline PLC ADR(2)
    10,700       400,180      
Novartis AG ADR(2)
    18,800       986,812      
Sanofi-Aventis
    4,200       240,435      
 
 
            $ 2,055,943      
 
 
 
 
Real Estate Management & Development — 0.4%
 
Raven Russia, Ltd. 
    221,000     $ 164,405      
 
 
            $ 164,405      
 
 
 
 
Semiconductors & Semiconductor Equipment — 2.5%
 
Alpha & Omega Semiconductor Ltd.(1)
    18,034     $ 200,177      
Atheros Communications, Inc.(1)(2)
    12,400       305,784      
Cypress Semiconductor Corp.(1)(2)
    43,600       461,506      
Tessera Technologies, Inc.(1)(2)
    12,820       194,864      
 
 
            $ 1,162,331      
 
 
 
Software — 0.1%
 
Concur Technologies, Inc.(1)(2)
    1,000     $ 46,770      
 
 
            $ 46,770      
 
 
 
 
Specialty Retail — 0.5%
 
Kingfisher PLC
    71,000     $ 221,594      
 
 
            $ 221,594      
 
 
 
 
Textiles, Apparel & Luxury Goods — 1.2%
 
Hanesbrands, Inc.(1)(2)
    1,100     $ 26,334      
Skechers U.S.A., Inc., Class A(1)(2)
    20,430       520,352      
 
 
            $ 546,686      
 
 
 
 
Tobacco — 1.7%
 
British American Tobacco PLC
    23,500     $ 796,253      
 
 
            $ 796,253      
 
 
 
 
Trading Companies & Distributors — 0.9%
 
Mitsubishi Corp. 
    7,000     $ 149,992      
WESCO International, Inc.(1)(2)
    7,720       249,201      
 
 
            $ 399,193      
 
 
 
 
Wireless Telecommunication Services — 1.5%
 
Turkcell Iletisim Hizmetleri AS ADR(2)
    29,000     $ 459,650      
Vodafone Group PLC ADR(2)
    10,100       244,218      
 
 
            $ 703,868      
 
 
     
Total Common Stocks
   
(identified cost $32,231,123)
  $ 28,960,799      
 
 
                     
                     

 
See notes to financial statements

18


 

 
Global Growth Portfolio as of August 31, 2010
 
PORTFOLIO OF INVESTMENTS CONT’D
 
                     
Short-Term Investments — 54.6%
 
    Interest
           
Description   (000’s omitted)     Value      
 
 
Eaton Vance Cash Collateral Fund, LLC, 0.29%(4)(5)
  $ 10,309     $ 10,308,596      
Eaton Vance Cash Reserves Fund, LLC, 0.26%(4)(6)
    14,764       14,763,988      
 
 
     
Total Short-Term Investments
   
(identified cost $25,072,584)
  $ 25,072,584      
 
 
     
Total Investments — 117.6%
   
(identified cost $57,303,707)
  $ 54,033,383      
 
 
             
Other Assets, Less Liabilities — (17.6)%
  $ (8,090,670 )    
 
 
             
Net Assets — 100.0%
  $ 45,942,713      
 
 
 
The percentage shown for each investment category in the Portfolio of Investments is based on net assets.
 
ADR - American Depositary Receipt
 
GDR - Global Depositary Receipt
 
(1) Non-income producing security.
 
 
(2) All or a portion of this security was on loan at August 31, 2010.
 
 
(3) Security exempt from registration under Regulation S of the Securities Act of 1933, which exempts from registration securities offered and sold outside the United States. Security may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act of 1933.
 
 
(4) Affiliated investment company available to Eaton Vance portfolios and funds which invests in high quality, U.S. dollar denominated money market instruments. The rate shown is the annualized seven-day yield as of August 31, 2010.
 
 
(5) The amount invested in Eaton Vance Cash Collateral Fund, LLC represents cash collateral received for securities on loan at August 31, 2010. Other Assets, Less Liabilities includes an equal and offsetting liability of the Portfolio to repay collateral amounts upon the return of loaned securities.
 
 
(6) Net income allocated from the investment in Eaton Vance Cash Reserves Fund, LLC and Cash Management Portfolio, an affiliated investment company, for the year ended August 31, 2010 was $3,265 and $0, respectively.
 
 
                     
Country Concentration of Portfolio
 
    Percentage
           
Country   of Net Assets     Value      
 
 
United States
    18.3 %   $ 8,423,234      
United Kingdom
    8.1       3,722,537      
Switzerland
    6.1       2,794,282      
Japan
    5.8       2,678,474      
France
    3.4       1,574,765      
Canada
    2.8       1,277,892      
Singapore
    2.8       1,272,396      
Germany
    2.0       942,184      
Mexico
    1.7       774,263      
Hong Kong
    1.7       772,963      
Brazil
    1.6       750,432      
Russia
    1.5       683,034      
Turkey
    1.4       623,400      
Spain
    1.1       498,029      
Belgium
    0.9       399,256      
Poland
    0.6       256,256      
Taiwan
    0.5       246,818      
Sweden
    0.5       236,343      
Netherlands
    0.5       218,315      
Bermuda
    0.4       200,177      
Norway
    0.4       183,558      
Austria
    0.3       116,904      
Kazakhstan
    0.2       110,572      
China
    0.2       108,000      
Italy
    0.2       96,715      
 
 
Long-Term Investments
    63.0 %   $ 28,960,799      
 
 
Short-Term Investments
          $ 25,072,584      
 
 
Total Investments
          $ 54,033,383      
 
 

 
See notes to financial statements

19


 

Global Growth Portfolio as of August 31, 2010
 
FINANCIAL STATEMENTS
 
Statement of Assets and Liabilities
 
             
As of August 31, 2010          
 
Assets
 
Unaffiliated investments, at value including $10,033,907 of securities on loan (identified cost, $32,231,123)
  $ 28,960,799      
Affiliated investments, at value (identified cost, $25,072,584)
    25,072,584      
Cash
    44      
Dividends receivable
    53,737      
Interest receivable from affiliated investment
    829      
Receivable for investments sold
    4,031,901      
Securities lending income receivable
    2,901      
Tax reclaims receivable
    86,968      
 
 
Total assets
  $ 58,209,763      
 
 
             
             
 
Liabilities
 
Collateral for securities loaned
  $ 10,308,596      
Payable for investments purchased
    1,807,039      
Payable to affiliates:
           
Investment adviser fee
    23,309      
Administration fee
    10,107      
Accrued expenses
    117,999      
 
 
Total liabilities
  $ 12,267,050      
 
 
Net Assets applicable to investors’ interest in Portfolio
  $ 45,942,713      
 
 
             
             
 
Sources of Net Assets
 
Net proceeds from capital contributions and withdrawals
  $ 49,213,636      
Net unrealized depreciation
    (3,270,923 )    
 
 
Total
  $ 45,942,713      
 
 
 
 
Statement of Operations
 
             
For the Year Ended
         
August 31, 2010          
 
Investment Income
 
Dividends (net of foreign taxes, $67,746)
  $ 812,782      
Securities lending income, net
    39,484      
Interest allocated from affiliated investments
    5,741      
Expenses allocated from affiliated investments
    (2,476 )    
 
 
Total investment income
  $ 855,531      
 
 
             
             
 
Expenses
 
Investment adviser fee
  $ 403,644      
Administration fee
    135,228      
Trustees’ fees and expenses
    2,289      
Custodian fee
    178,396      
Legal and accounting services
    59,420      
Miscellaneous
    4,078      
 
 
Total expenses
  $ 783,055      
 
 
Deduct —
           
Reduction of custodian fee
  $ 9      
 
 
Total expense reductions
  $ 9      
 
 
Net expenses
  $ 783,046      
 
 
             
Net investment income
  $ 72,485      
 
 
             
             
 
Realized and Unrealized Gain (Loss)
 
Net realized gain (loss) —
           
Investment transactions
  $ 10,919,258      
Investment transactions allocated from affiliated investments
    2,061      
Foreign currency transactions
    (22,017 )    
 
 
Net realized gain
  $ 10,899,302      
 
 
Change in unrealized appreciation (depreciation) —
           
Investments
  $ (11,880,650 )    
Foreign currency
    (9,549 )    
 
 
Net change in unrealized appreciation (depreciation)
  $ (11,890,199 )    
 
 
             
Net realized and unrealized loss
  $ (990,897 )    
 
 
             
Net decrease in net assets from operations
  $ (918,412 )    
 
 

 
See notes to financial statements

20


 

Global Growth Portfolio as of August 31, 2010
 
FINANCIAL STATEMENTS CONT’D
 
Statements of Changes in Net Assets
 
                     
Increase (Decrease)
  Year Ended
    Year Ended
     
in Net Assets   August 31, 2010     August 31, 2009      
 
From operations —
                   
Net investment income
  $ 72,485     $ 517,171      
Net realized gain (loss) from investment and foreign currency transactions
    10,899,302       (29,009,619 )    
Net change in unrealized appreciation (depreciation) from investments and foreign currency
    (11,890,199 )     (2,635,027 )    
 
 
Net decrease in net assets from operations
  $ (918,412 )   $ (31,127,475 )    
 
 
Capital transactions —
                   
Contributions
  $ 3,433,363     $ 9,346,348      
Withdrawals
    (11,285,675 )     (20,695,393 )    
 
 
Net decrease from capital transactions
  $ (7,852,312 )   $ (11,349,045 )    
 
 
                     
Net decrease in net assets
  $ (8,770,724 )   $ (42,476,520 )    
 
 
                     
                     
 
Net Assets
 
At beginning of year
  $ 54,713,437     $ 97,189,957      
 
 
At end of year
  $ 45,942,713     $ 54,713,437      
 
 

 
See notes to financial statements

21


 

Global Growth Portfolio as of August 31, 2010
 
FINANCIAL STATEMENTS CONT’D
 
Supplementary Data
 
                                             
    Year Ended
    Year Ended
    Year Ended
    Year Ended
    Year Ended
     
    August 31, 2010     August 31, 2009     August 31, 2008     August 31, 2007     August 31, 2006      
 
 
Ratios/Supplemental Data
 
Ratios (as a percentage of average daily net assets):
                                           
Expenses(1)
    1.45 %     1.45 %(2)     1.26 %     1.28 %     1.29 %(2)    
Net investment income
    0.13 %     0.97 %     1.17 %(3)     0.70 %(4)     0.22 %    
Portfolio Turnover
    142 %     155 %     124 %     94 %     186 %    
 
 
                                             
Total Return
    (2.52 )%     (29.60 )%     (3.42 )%     29.26 %     13.43 %    
 
 
Net assets, end of year (000’s omitted)
  $ 45,943     $ 54,713     $ 97,190     $ 96,585     $ 83,316      
 
 
 
(1) Excludes the effect of custody fee credits, if any, of less than 0.005%.
 
(2) The investment adviser(s) voluntarily waived a portion of its investment adviser fee (equal to less than 0.01% and 0.04% of average daily net assets for the years ended August 31, 2009 and 2006, respectively).
 
(3) Includes a dividend resulting from a corporate action equal to 0.46% of average daily net assets.
 
(4) Includes special dividends equal to 0.35% of average daily net assets.

 
See notes to financial statements

22


 

Global Growth Portfolio as of August 31, 2010
 
NOTES TO FINANCIAL STATEMENTS
 
1   Significant Accounting Policies
 
Global Growth Portfolio (the Portfolio) is a Massachusetts business trust registered under the Investment Company Act of 1940, as amended (the 1940 Act), as a diversified, open-end management investment company. The Portfolio’s investment objective is to seek long-term capital growth. The Declaration of Trust permits the Trustees to issue interests in the Portfolio. At August 31, 2010, Eaton Vance Global Growth Fund held a 99.9% interest in the Portfolio.
 
The following is a summary of significant accounting policies of the Portfolio. The policies are in conformity with accounting principles generally accepted in the United States of America.
 
A  Investment Valuation — Equity securities (including common shares of closed-end investment companies) listed on a U.S. securities exchange generally are valued at the last sale price on the day of valuation or, if no sales took place on such date, at the mean between the closing bid and asked prices therefore on the exchange where such securities are principally traded. Equity securities listed on the NASDAQ Global or Global Select Market generally are valued at the NASDAQ official closing price. Unlisted or listed securities for which closing sales prices or closing quotations are not available are valued at the mean between the latest available bid and asked prices or, in the case of preferred equity securities that are not listed or traded in the over-the-counter market, by a third party pricing service that will use various techniques that consider factors including, but not limited to, prices or yields of securities with similar characteristics, benchmark yields, broker/dealer quotes, quotes of underlying common stock, issuer spreads, as well as industry and economic events. Short-term debt securities purchased with a remaining maturity of sixty days or less are generally valued at amortized cost, which approximates market value. Foreign securities and currencies are valued in U.S. dollars, based on foreign currency exchange rate quotations supplied by a third party pricing service. The pricing service uses a proprietary model to determine the exchange rate. Inputs to the model include reported trades and implied bid/ask spreads. The daily valuation of exchange-traded foreign securities generally is determined as of the close of trading on the principal exchange on which such securities trade. Events occurring after the close of trading on foreign exchanges may result in adjustments to the valuation of foreign securities to more accurately reflect their fair value as of the close of regular trading on the New York Stock Exchange. When valuing foreign equity securities that meet certain criteria, the Trustees have approved the use of a fair value service that values such securities to reflect market trading that occurs after the close of the applicable foreign markets of comparable securities or other instruments that have a strong correlation to the fair-valued securities. Investments for which valuations or market quotations are not readily available or are deemed unreliable are valued at fair value using methods determined in good faith by or at the direction of the Trustees of the Portfolio in a manner that most fairly reflects the security’s value, or the amount that the Portfolio might reasonably expect to receive for the security upon its current sale in the ordinary course. Each such determination is based on a consideration of all relevant factors, which are likely to vary from one pricing context to another. These factors may include, but are not limited to, the type of security, the existence of any contractual restrictions on the security’s disposition, the price and extent of public trading in similar securities of the issuer or of comparable companies or entities, quotations or relevant information obtained from broker-dealers or other market participants, information obtained from the issuer, analysts, and/or the appropriate stock exchange (for exchange-traded securities), an analysis of the company’s or entity’s financial condition, and an evaluation of the forces that influence the issuer and the market(s) in which the security is purchased and sold.
 
The Portfolio may invest in Eaton Vance Cash Reserves Fund, LLC (Cash Reserves Fund) and Eaton Vance Cash Collateral Fund, LLC (Cash Collateral Fund), affiliated investment companies managed by Eaton Vance Management (EVM). Cash Reserves Fund and Cash Collateral Fund generally value their investment securities utilizing the amortized cost valuation technique permitted by Rule 2a-7 under the 1940 Act. This technique involves initially valuing a portfolio security at its cost and thereafter assuming a constant amortization to maturity of any discount or premium. If amortized cost is determined not to approximate fair value, Cash Reserves Fund and Cash Collateral Fund may value their investment securities based on available market quotations provided by a third party pricing service.
 
B  Investment Transactions — Investment transactions for financial statement purposes are accounted for on a trade date basis. Realized gains and losses on investments sold are determined on the basis of identified cost.
 
C  Income — Dividend income is recorded on the ex-dividend date for dividends received in cash and/or securities. However, if the ex-dividend date has passed, certain dividends from foreign securities are recorded as the Portfolio is informed of the ex-dividend date. Withholding taxes on foreign dividends and capital gains have been provided for in accordance with the Portfolio’s understanding of the applicable countries’ tax rules and rates. Interest income is recorded on the basis of interest accrued, adjusted for amortization of premium or accretion of discount.

23


 

 
Global Growth Portfolio as of August 31, 2010
 
NOTES TO FINANCIAL STATEMENTS CONT’D
 
D  Federal Taxes — The Portfolio has elected to be treated as a partnership for federal tax purposes. No provision is made by the Portfolio for federal or state taxes on any taxable income of the Portfolio because each investor in the Portfolio is ultimately responsible for the payment of any taxes on its share of taxable income. Since at least one of the Portfolio’s investors is a regulated investment company that invests all or substantially all of its assets in the Portfolio, the Portfolio normally must satisfy the applicable source of income and diversification requirements (under the Internal Revenue Code) in order for its investors to satisfy them. The Portfolio will allocate, at least annually among its investors, each investor’s distributive share of the Portfolio’s net investment income, net realized capital gains and any other items of income, gain, loss, deduction or credit.
 
In addition to the requirements of the Internal Revenue Code, the Portfolio may also be subject to local taxes on the recognition of capital gains in certain countries. In determining the daily net asset value, the Portfolio estimates the accrual for such taxes, if any, based on the unrealized appreciation on certain portfolio securities and the related tax rates. Tax expense attributable to unrealized appreciation is included in the change in unrealized appreciation (depreciation) on investments. Capital gains taxes on securities sold are included in net realized gain (loss) on investments.
 
As of August 31, 2010, the Portfolio had no uncertain tax positions that would require financial statement recognition, de-recognition, or disclosure. Each of the Portfolio’s federal tax returns filed in the 3-year period ended August 31, 2010 remains subject to examination by the Internal Revenue Service.
 
E  Expense Reduction — State Street Bank and Trust Company (SSBT) serves as custodian of the Portfolio. Pursuant to the custodian agreement, SSBT receives a fee reduced by credits, which are determined based on the average daily cash balance the Portfolio maintains with SSBT. All credit balances, if any, used to reduce the Portfolio’s custodian fees are reported as a reduction of expenses in the Statement of Operations.
 
F  Foreign Currency Translation — Investment valuations, other assets, and liabilities initially expressed in foreign currencies are translated each business day into U.S. dollars based upon current exchange rates. Purchases and sales of foreign investment securities and income and expenses denominated in foreign currencies are translated into U.S. dollars based upon currency exchange rates in effect on the respective dates of such transactions. Recognized gains or losses on investment transactions attributable to changes in foreign currency exchange rates are recorded for financial statement purposes as net realized gains and losses on investments. That portion of unrealized gains and losses on investments that results from fluctuations in foreign currency exchange rates is not separately disclosed.
 
G  Use of Estimates — The preparation of the financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of income and expense during the reporting period. Actual results could differ from those estimates.
 
H  Indemnifications — Under the Portfolio’s organizational documents, its officers and Trustees may be indemnified against certain liabilities and expenses arising out of the performance of their duties to the Portfolio. Under Massachusetts law, if certain conditions prevail, interestholders in the Portfolio could be deemed to have personal liability for the obligations of the Portfolio. However, the Portfolio’s Declaration of Trust contains an express disclaimer of liability on the part of Portfolio interestholders and the By-laws provide that the Portfolio shall assume the defense on behalf of any Portfolio interestholder. Moreover, the By-laws also provide for indemnification out of Portfolio property of any interestholder held personally liable solely by reason of being or having been an interestholder for all loss or expense arising from such liability. Additionally, in the normal course of business, the Portfolio enters into agreements with service providers that may contain indemnification clauses. The Portfolio’s maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Portfolio that have not yet occurred.
 
2   Investment Adviser Fee and Other Transactions with Affiliates
 
The investment adviser fee is earned by Boston Management and Research (BMR), a subsidiary of EVM, as compensation for investment advisory services rendered to the Portfolio. The fee is computed at an annual rate of 0.75% of the Portfolio’s average daily net assets up to $500 million and is payable monthly. On net assets of $500 million and over, the annual fee is reduced. Pursuant to a sub-advisory agreement, BMR pays Eagle Global Advisors, L.L.C. (Eagle) a portion of its adviser fee for sub-advisory services provided to the Portfolio. Prior to its liquidation in February 2010, the portion of the adviser fee payable by Cash Management Portfolio, an affiliated investment company, on the Portfolio’s investment of cash therein was credited against the Portfolio’s investment adviser fee. The Portfolio currently invests its cash in Cash Reserves Fund. EVM does not currently receive a fee for advisory services provided to Cash Reserves Fund. For the

24


 

 
Global Growth Portfolio as of August 31, 2010
 
NOTES TO FINANCIAL STATEMENTS CONT’D
 
year ended August 31, 2010, the Portfolio’s investment adviser fee totaled $405,740 of which $2,096 was allocated from Cash Management Portfolio and $403,644 was paid or accrued directly by the Portfolio. For the year ended August 31, 2010, the Portfolio’s investment adviser fee, including the portion allocated from Cash Management Portfolio, was 0.75% of the Portfolio’s average daily net assets.
 
In addition, an administration fee is earned by EVM for administering the business affairs of the Portfolio and is computed at an annual rate of 0.25% of the Portfolio’s average daily net assets up to $500 million and at reduced rates on daily net assets of $500 million or more. For the year ended August 31, 2010, the administration fee was 0.25% of the Portfolio’s average daily net assets and amounted to $135,228.
 
Except for Trustees of the Portfolio who are not members of EVM’s, BMR’s or Eagle’s organizations, officers and Trustees receive remuneration for their services to the Portfolio out of the investment adviser and administration fees. Trustees of the Portfolio who are not affiliated with the investment adviser may elect to defer receipt of all or a percentage of their annual fees in accordance with the terms of the Trustees Deferred Compensation Plan. For the year ended August 31, 2010, no significant amounts have been deferred. Certain officers and Trustees of the Portfolio are officers of the above organizations.
 
3   Purchases and Sales of Investments
 
Purchases and sales of investments, other than short-term obligations, aggregated $70,238,025 and $93,639,029, respectively, for the year ended August 31, 2010.
 
4   Federal Income Tax Basis of Investments
 
The cost and unrealized appreciation (depreciation) of investments of the Portfolio at August 31, 2010, as determined on a federal income tax basis, were as follows:
 
             
Aggregate cost
  $ 57,285,881      
 
 
Gross unrealized appreciation
  $ 194,163      
Gross unrealized depreciation
    (3,446,661 )    
 
 
Net unrealized depreciation
  $ (3,252,498 )    
 
 
 
The net unrealized depreciation on foreign currency transactions at August 31, 2010 on a federal income tax basis was $599.
 
5   Line of Credit
 
The Portfolio participates with other portfolios and funds managed by EVM and its affiliates in a $450 million unsecured line of credit agreement with a group of banks. Borrowings are made by the Portfolio solely to facilitate the handling of unusual and/or unanticipated short-term cash requirements. Interest is charged to the Portfolio based on its borrowings at an amount above either the Eurodollar rate or Federal Funds rate. In addition, a fee computed at an annual rate of 0.10% on the daily unused portion of the line of credit is allocated among the participating portfolios and funds at the end of each quarter. Because the line of credit is not available exclusively to the Portfolio, it may be unable to borrow some or all of its requested amounts at any particular time. The Portfolio did not have any significant borrowings or allocated fees during the year ended August 31, 2010.
 
6   Risks Associated with Foreign Investments
 
Investing in securities issued by companies whose principal business activities are outside the United States may involve significant risks not present in domestic investments. For example, there is generally less publicly available information about foreign companies, particularly those not subject to the disclosure and reporting requirements of the U.S. securities laws. Certain foreign issuers are generally not bound by uniform accounting, auditing, and financial reporting requirements and standards of practice comparable to those applicable to domestic issuers. Investments in foreign securities also involve the risk of possible adverse changes in investment or exchange control regulations, expropriation or confiscatory taxation, limitation on the removal of funds or other assets of the Portfolio, political or financial instability or diplomatic and other developments which could affect such investments. Foreign stock markets, while growing in volume and sophistication, are generally not as developed as those in the United States, and securities of some foreign issuers (particularly those located in developing countries) may be less liquid and more volatile than securities of comparable U.S. companies. In general, there is less overall governmental supervision and regulation of foreign securities markets, broker-dealers and issuers than in the United States.
 
7   Securities Lending Agreement
 
The Portfolio has established a securities lending agreement with SSBT as securities lending agent in which the Portfolio lends portfolio securities to qualified borrowers in exchange for collateral consisting of either cash or U.S. Government securities in an amount at least equal to the market value of the securities on loan. Cash collateral is invested in Cash Collateral Fund. The Portfolio earns interest on the amount invested in Cash Collateral Fund but it must pay (and at times receive from) the broker a loan rebate fee computed as a varying percentage of the collateral received. The net loan rebate fee received by the Portfolio amounted to $18,240 for the year ended August 31, 2010. At August 31, 2010, the value of the securities loaned and the value of the collateral received

25


 

 
Global Growth Portfolio as of August 31, 2010
 
NOTES TO FINANCIAL STATEMENTS CONT’D
 
amounted to $10,033,907 and $10,308,596, respectively. In the event of counterparty default, the Portfolio is subject to potential loss if it is delayed or prevented from exercising its right to dispose of the collateral. The Portfolio bears risk in the event that invested collateral is not sufficient to meet its obligations due on loans.
 
8   Fair Value Measurements
 
Under generally accepted accounting principles for fair value measurements, a three-tier hierarchy to prioritize the assumptions, referred to as inputs, is used in valuation techniques to measure fair value. The three-tier hierarchy of inputs is summarized in the three broad levels listed below.
 
  •  Level 1 – quoted prices in active markets for identical investments
 
  •  Level 2 – other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.)
 
  •  Level 3 – significant unobservable inputs (including a fund’s own assumptions in determining the fair value of investments)
 
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.
 
At August 31, 2010, the inputs used in valuing the Portfolio’s investments, which are carried at value, were as follows:
 
                                     
    Quoted
                       
    Prices in
                       
    Active
    Significant
                 
    Markets for
    Other
    Significant
           
    Identical
    Observable
    Unobservable
           
    Assets     Inputs     Inputs            
     
Asset Description   (Level 1)     (Level 2)     (Level 3)     Total      
 
Common Stocks
                                   
Consumer Discretionary
  $ 2,236,792     $ 1,329,632     $     $ 3,566,424      
Consumer Staples
    1,505,134       1,966,340             3,471,474      
Energy
    2,950,368       773,515             3,723,883      
Financials
    986,776       3,931,628             4,918,404      
Health Care
    2,730,789       240,435             2,971,224      
Industrials
    1,340,509       1,704,411             3,044,920      
Information Technology
    2,086,896       1,456,516             3,543,412      
Materials
    1,649,342       220,902             1,870,244      
Telecommunication Services
    703,868       640,460             1,344,328      
Utilities
          506,486             506,486      
 
 
Total Common Stocks
  $ 16,190,474     $ 12,770,325 *   $     $ 28,960,799      
 
 
Short-Term Investments
  $     $ 25,072,584     $     $ 25,072,584      
 
 
Total Investments
  $ 16,190,474     $ 37,842,909     $     $ 54,033,383      
 
 
 
* Includes foreign equity securities whose values were adjusted to reflect market trading of comparable securities or other correlated instruments that occurred after the close of trading in their applicable foreign markets.
 
The Portfolio held no investments or other financial instruments as of August 31, 2009 whose fair value was determined using Level 3 inputs.
 
9   Plan of Reorganization
 
In June 2010, the Trustees of the Portfolio approved an Agreement and Plan of Reorganization whereby Eaton Vance Multi-Cap Growth Fund would acquire substantially all the assets and assume substantially all the liabilities of Eaton Vance Global Growth Fund (the Fund) in exchange for shares of Eaton Vance Multi-Cap Growth Fund. The proposed reorganization was approved by the shareholders of the Fund on October 8, 2010. The Portfolio will be dissolved upon consummation of the reorganization.

26


 

Eaton Vance Global Growth Portfolio as of August 31, 2010
 
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
 
To the Trustees and Investors of Global Growth Portfolio:
We have audited the accompanying statement of assets and liabilities of Global Growth Portfolio (the “Portfolio”), including the portfolio of investments, as of August 31, 2010, and the related statement of operations for the year then ended, the statements of changes in net assets for each of the two years in the period then ended, and the supplementary data for each of the three years in the period then ended. These financial statements and supplementary data are the responsibility of the Portfolio’s management. Our responsibility is to express an opinion on these financial statements and supplementary data based on our audits. The supplementary data for each of the two years in the period ended August 31, 2007 were audited by other auditors. Those auditors expressed an unqualified opinion on those financial statements and supplementary data in their report dated October 15, 2007.
 
We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements and supplementary data are free of material misstatement. The Portfolio is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. Our audits included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Portfolio’s internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. Our procedures included confirmation of securities owned as of August 31, 2010, by correspondence with the custodian and brokers; where replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.
 
In our opinion, the financial statements and supplementary data referred to above present fairly, in all material respects, the financial position of Global Growth Portfolio as of August 31, 2010, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period then ended, and the supplementary data for each of the three years in the period then ended, in conformity with accounting principles generally accepted in the United States of America.
 
DELOITTE & TOUCHE LLP
Boston, Massachusetts
October 20, 2010

27


 

Eaton Vance Global Growth Fund 
 
BOARD OF TRUSTEES’ CONTRACT APPROVAL
 
Overview of the Contract Review Process
 
The Investment Company Act of 1940, as amended (the “1940 Act”), provides, in substance, that each investment advisory agreement between a fund and its investment adviser will continue in effect from year to year only if its continuance is approved at least annually by the fund’s board of trustees, including by a vote of a majority of the trustees who are not “interested persons” of the fund (“Independent Trustees”), cast in person at a meeting called for the purpose of considering such approval.
 
At a meeting of the Boards of Trustees (each a “Board”) of the Eaton Vance group of mutual funds (the “Eaton Vance Funds”) held on April 26, 2010, the Board, including a majority of the Independent Trustees, voted to approve continuation of existing advisory and sub-advisory agreements for the Eaton Vance Funds for an additional one-year period. In voting its approval, the Board relied upon the affirmative recommendation of the Contract Review Committee of the Board, which is a committee comprised exclusively of Independent Trustees. Prior to making its recommendation, the Contract Review Committee reviewed information furnished for a series of meetings of the Contract Review Committee held between February and April 2010. Such information included, among other things, the following:
 
Information about Fees, Performance and Expenses
 
  •  An independent report comparing the advisory and related fees paid by each fund with fees paid by comparable funds;
  •  An independent report comparing each fund’s total expense ratio and its components to comparable funds;
  •  An independent report comparing the investment performance of each fund (including yield where relevant) to the investment performance of comparable funds over various time periods;
  •  Data regarding investment performance in comparison to relevant peer groups of similarly managed funds and appropriate indices;
  •  For each fund, comparative information concerning the fees charged and the services provided by each adviser in managing other mutual funds and institutional accounts using investment strategies and techniques similar to those used in managing such fund;
  •  Profitability analyses for each adviser with respect to each fund;
 
Information about Portfolio Management
 
  •  Descriptions of the investment management services provided to each fund, including the investment strategies and processes employed, and any changes in portfolio management processes and personnel;
  •  Information concerning the allocation of brokerage and the benefits received by each adviser as a result of brokerage allocation, including information concerning the acquisition of research through “soft dollar” benefits received in connection with the funds’ brokerage, and the implementation of a soft dollar reimbursement program established with respect to the funds;
  •  Data relating to portfolio turnover rates of each fund;
  •  The procedures and processes used to determine the fair value of fund assets and actions taken to monitor and test the effectiveness of such procedures and processes;
 
Information about each Adviser
 
  •  Reports detailing the financial results and condition of each adviser;
  •  Descriptions of the qualifications, education and experience of the individual investment professionals whose responsibilities include portfolio management and investment research for the funds, and information relating to their compensation and responsibilities with respect to managing other mutual funds and investment accounts;
  •  Copies of the Codes of Ethics of each adviser and its affiliates, together with information relating to compliance with and the administration of such codes;
  •  Copies of or descriptions of each adviser’s policies and procedures relating to proxy voting, the handling of corporate actions and class actions;
  •  Information concerning the resources devoted to compliance efforts undertaken by each adviser and its affiliates on behalf of the funds (including descriptions of various compliance programs) and their record of compliance with investment policies and restrictions, including policies with respect to market-timing, late trading and selective portfolio disclosure, and with policies on personal securities transactions;
  •  Descriptions of the business continuity and disaster recovery plans of each adviser and its affiliates;
  •  A description of Eaton Vance Management’s procedures for overseeing third party advisers and sub-advisers;
 
Other Relevant Information
 
  •  Information concerning the nature, cost and character of the administrative and other non-investment management services provided by Eaton Vance Management and its affiliates;
  •  Information concerning management of the relationship with the custodian, subcustodians and fund accountants by each adviser or the funds’ administrator; and
  •  The terms of each advisory agreement.

28


 

 
Eaton Vance Global Growth Fund 
 
BOARD OF TRUSTEES’ CONTRACT APPROVAL CONT’D
 
 
In addition to the information identified above, the Contract Review Committee considered information provided from time to time by each adviser throughout the year at meetings of the Board and its committees. Over the course of the twelve-month period ended April 30, 2010, with respect to one or more Funds, the Board met ten times and the Contract Review Committee, the Audit Committee, the Governance Committee, the Portfolio Management Committee and the Compliance Reports and Regulatory Matters Committee, each of which is a Committee comprised solely of Independent Trustees, met nine, thirteen, three, eight and fifteen times, respectively. At such meetings, the Trustees received, among other things, presentations by the portfolio managers and other investment professionals of each adviser relating to the investment performance of each fund and the investment strategies used in pursuing the fund’s investment objective including, where relevant, the use of derivative instruments, as well as trading policies and procedures and risk management techniques.
 
For funds that invest through one or more underlying portfolios, the Board considered similar information about the portfolio(s) when considering the approval of advisory agreements. In addition, in cases where the fund’s investment adviser has engaged a sub-adviser, the Board considered similar information about the sub-adviser when considering the approval of any sub-advisory agreement.
 
The Contract Review Committee was assisted throughout the contract review process by Goodwin Procter LLP, legal counsel for the Independent Trustees. The members of the Contract Review Committee relied upon the advice of such counsel and their own business judgment in determining the material factors to be considered in evaluating each advisory and sub-advisory agreement and the weight to be given to each such factor. The conclusions reached with respect to each advisory and sub-advisory agreement were based on a comprehensive evaluation of all the information provided and not any single factor. Moreover, each member of the Contract Review Committee may have placed varying emphasis on particular factors in reaching conclusions with respect to each advisory and sub-advisory agreement.
 
Results of the Process
 
Based on its consideration of the foregoing, and such other information as it deemed relevant, including the factors and conclusions described below, the Contract Review Committee concluded that the continuance of the investment advisory agreement of Global Growth Portfolio (the “Portfolio”), the portfolio in which Eaton Vance Global Growth Fund (the “Fund” ) invests, with Boston Management and Research (“BMR” or the “Adviser”) and the sub-advisory agreement with Eagle Global Advisors, L.L.C. (“Eagle” or the “Sub-adviser”), as well as the administration agreement of the Portfolio with Eaton Vance Management (“EVM”), and the management contract of the Fund with EVM, including their fee structures, is in the interests of shareholders and, therefore, the Contract Review Committee recommended to the Board approval of each agreement. The Board accepted the recommendation of the Contract Review Committee as well as the factors considered and conclusions reached by the Contract Review Committee with respect to the agreements. Accordingly, the Board, including a majority of the Independent Trustees, voted to approve continuation of the advisory and sub-advisory agreements for the Portfolio, the administration agreement for the Portfolio and the management contract for the Fund.
 
Nature, Extent and Quality of Services
 
In considering whether to approve the investment advisory agreement with BMR for the Portfolio, the sub-advisory agreement with Eagle for the Portfolio, the administration agreement for the Portfolio and the management contract for the Fund, the Board evaluated the nature, extent and quality of services provided to the Portfolio by BMR, EVM, and by Eagle and to the Fund by EVM.
 
The Board considered BMR’s, EVM’s and Eagle’s management capabilities and investment process with respect to the types of investments held by the Portfolio, including the education, experience and number of its investment professionals and other personnel who provide portfolio management, investment research, and similar services to the Portfolio and who also supervise Eagle’s management of the foreign portion of the Portfolio. The Board specifically noted BMR’s in-house equity research capabilities. The Board also took into account the resources dedicated to portfolio management and other services, including the compensation methods to recruit and retain investment personnel, and the time and attention devoted to the Portfolio by senior management. With respect to the Sub-adviser, the Board took into consideration the resources available to the Sub-adviser in fulfilling its duties under the sub-advisory agreement and the Sub-adviser’s experience in managing international equity portfolios.
 
The Board also reviewed the compliance programs of BMR, relevant affiliates thereof, and Eagle. Among other matters, the Board considered compliance and reporting matters relating to personal trading by investment personnel, selective disclosure of portfolio holdings, late trading, frequent trading, portfolio valuation, business continuity and the allocation of investment opportunities. The Board also evaluated the responses of BMR and its affiliates to requests in recent years from regulatory authorities such as the Securities and Exchange Commission and the Financial Industry Regulatory Authority.

29


 

 
Eaton Vance Global Growth Fund 
 
BOARD OF TRUSTEES’ CONTRACT APPROVAL CONT’D
 
The Board considered shareholder and other administrative services provided or managed by BMR and its affiliates, including transfer agency and accounting services. The Board evaluated the benefits to shareholders of investing in a fund that is a part of a large family of funds, including the ability, in many cases, to exchange an investment among different funds without incurring additional sales charges.
 
After consideration of the foregoing factors, among others, the Board concluded that the nature, extent and quality of services provided by BMR, EVM and Eagle, taken as a whole, are appropriate and consistent with the terms of the investment advisory agreement with respect to BMR, the investment sub-advisory agreement with respect to Eagle, the administration agreement with EVM and the management contract with EVM, respectively.
 
Fund Performance
 
The Board compared the Fund’s investment performance to a relevant universe of similarly managed funds identified by an independent data provider and appropriate benchmark indices. The Board noted that the domestic portion of the Portfolio has been managed by BMR since the Fund’s inception and that the foreign portion of the Portfolio has been managed by Eagle since April 1, 2006. The Board reviewed comparative performance data for the one-, three-, five- and ten- year periods ended September 30, 2009 for the Fund. On the basis of the foregoing and other relevant information provided by EVM and BMR in response to inquiries from the Contract Review Committee, the Board concluded that the performance of the Fund was satisfactory.
 
Management Fees and Expenses
 
The Board reviewed contractual investment advisory and management fee rates, including any administrative fee rates, payable by the Portfolio and by the Fund (referred to collectively as “management fees”). As part of its review, the Board considered the management fees and the Fund’s total expense ratio for the year ended September 30, 2009, as compared to a group of similarly managed funds selected by an independent data provider. The Board also considered factors that had an impact on Fund expense ratios, as identified by management in response to inquiries from the Contract Review Committee, as well as actions being taken to reduce expenses at the Eaton Vance fund complex level. The Board noted the fact that EVM had waived fees and/or paid expenses for the Fund. The Board also considered management’s proposals to take steps to address the longer-term prospects of the Fund.
 
After reviewing the foregoing information, and in light of the nature, extent and quality of the services provided by BMR, EVM and Eagle, the Board concluded that the management fees charged for advisory and related services are reasonable.
 
Profitability
 
The Board reviewed the level of profits realized by BMR and relevant affiliates thereof in providing investment advisory and administrative services to the Fund, the Portfolio and all Eaton Vance Funds as a group. The Board considered the level of profits realized without regard to revenue sharing or other payments by BMR and its affiliates to third parties in respect of distribution services. The Board also considered other direct or indirect benefits received by BMR and its affiliates in connection with its relationship with the Fund and the Portfolio, including the benefits of research services that may be available to BMR or Eagle as a result of securities transactions effected for the Portfolio and other investment advisory clients. The Board also concluded that, in light of its role as a sub-adviser not affiliated with the Adviser, the Sub-adviser’s profitability in managing the Portfolio was not a material factor.
 
The Board concluded that, in light of the foregoing factors and the nature, extent and quality of the services rendered, the profits realized by BMR and its affiliates are reasonable.
 
Economies of Scale
 
In reviewing management fees and profitability, the Board also considered the extent to which BMR and its affiliates, on the one hand, and the Fund and the Portfolio, on the other hand, can expect to realize benefits from economies of scale as the assets of the Fund and the Portfolio increase. The Board acknowledged the difficulty in accurately measuring the benefits resulting from the economies of scale with respect to the management of any specific fund or group of funds. The Board reviewed data summarizing the increases and decreases in the assets of the Fund and of all Eaton Vance Funds as a group over various time periods, and evaluated the extent to which the total expense ratio of the Fund and the profitability of BMR and its affiliates may have been affected by such increases or decreases. Based upon the foregoing, the Board concluded that the benefits from economies of scale are currently being shared equitably by BMR and its affiliates and the Fund. The Board also concluded that, assuming reasonably foreseeable increases in the assets of the Portfolio, the structure of the advisory fee, which includes breakpoints at several asset levels, can be expected to cause BMR and its affiliates, Eagle, and the Fund and the Portfolio to continue to share such benefits equitably.

30


 

Eaton Vance Global Growth Fund 
 
MANAGEMENT AND ORGANIZATION
 
 
Fund Management. The Trustees of the Eaton Vance Growth Trust (the Trust) and Global Growth Portfolio (the Portfolio) are responsible for the overall management and supervision of the Trust’s and Portfolio’s affairs. The Trustees and officers of the Trust and the Portfolio are listed below. Except as indicated, each individual has held the office shown or other offices in the same company for the last five years. Trustees and officers of the Trust and Portfolio hold indefinite terms of office. The “Noninterested Trustees” consist of those Trustees who are not “interested persons” of the Trust and the Portfolio, as that term is defined under the 1940 Act. The business address of each Trustee and officer is Two International Place, Boston, Massachusetts 02110. As used below, “EVC” refers to Eaton Vance Corp., “EV” refers to Eaton Vance, Inc., “EVM” refers to Eaton Vance Management, “BMR” refers to Boston Management and Research, “EVD” refers to Eaton Vance Distributors, Inc. and “Eagle” refers to Eagle Global Advisors, L.L.C. EVC and EV are the corporate parent and trustee, respectively, of EVM and BMR. EVD is the Fund’s principal underwriter, the Portfolio’s placement agent and a wholly-owned subsidiary of EVC. Each officer affiliated with Eaton Vance may hold a position with other Eaton Vance affiliates that is comparable to his or her position with EVM listed below.
 
                         
    Position(s)
  Term of
      Number of Portfolios
     
    with the
  Office and
  Principal Occupation(s)
  in Fund Complex
     
Name and
  Trust and
  Length of
  During Past Five Years and
  Overseen By
    Other Directorships Held
Date of Birth   the Portfolio   Service   Other Relevant Experience   Trustee(1)      During the Last Five Years(2) 
 
 
 
Interested Trustee
                         
Thomas E. Faust Jr.
5/31/58
  Trustee and
President of
the Trust
  Trustee since 2007
and President
since 2002
  Chairman, Chief Executive Officer and President of EVC, Director and President of EV, Chief Executive Officer and President of EVM and BMR, and Director of EVD. Trustee and/or officer of 185 registered investment companies and 2 private investment companies managed by EVM or BMR. Mr. Faust is an interested person because of his positions with EVM, BMR, EVD, EVC and EV, which are affiliates of the Trust and Portfolio.     185     Director of EVC
 
Noninterested Trustees
                         
Benjamin C. Esty
1/2/63
  Trustee   Since 2005   Roy and Elizabeth Simmons Professor of Business Administration and Finance Unit Head, Harvard University Graduate School of Business Administration.     185     None
                         
Allen R. Freedman
4/3/40
  Trustee   Since 2007   Private Investor and Consultant. Former Chairman (2002-2004) and a Director (1983-2004) of Systems & Computer Technology Corp. (provider of software to higher education). Formerly, a Director of Loring Ward International (fund distributor) (2005-2007). Formerly, Chairman and a Director of Indus International, Inc. (provider of enterprise management software to the power generating industry) (2005-2007).     185     Director of Assurant, Inc. (insurance provider) and Stonemor Partners, L.P. (owner and operator of cemeteries)
                         
William H. Park
9/19/47
  Trustee   Since 2003   Vice Chairman, Commercial Industrial Finance Corp. (specialty finance company) (since 2006). Formerly, President and Chief Executive Officer, Prizm Capital Management, LLC (investment management firm) (2002-2005). Formerly, Executive Vice President and Chief Financial Officer, United Asset Management Corporation (an institutional investment management firm) (1982-2001). Formerly, Senior Manager, Price Waterhouse (now PricewaterhouseCoopers) (an independent registered public accounting firm) (1972-1981).     185     None
                         
Ronald A. Pearlman
7/10/40
  Trustee   Since 2003   Professor of Law, Georgetown University Law Center. Formerly, Deputy Assistant Secretary (Tax Policy) and Assistant Secretary (Tax Policy), U.S. Department of the Treasury (1983-1985). Formerly, Chief of Staff, Joint Committee on Taxation, U.S. Congress (1988-1990).     185     None
                         
Helen Frame Peters
3/22/48
  Trustee   Since 2008   Professor of Finance, Carroll School of Management, Boston College. Formerly, Dean, Carroll School of Management, Boston College (2000-2002). Formerly, Chief Investment Officer, Fixed Income, Scudder Kemper Investments (investment management firm) (1998-1999). Formerly, Chief Investment Officer, Equity and Fixed Income, Colonial Management Associates (investment management firm) (1991-1998).     185     Director of BJ’s Wholesale Club, Inc. (wholesale club retailer). Formerly, Trustee of SPDR Index Shares Funds and SPDR Series Trust (exchange traded funds) (2000-2009). Formerly, Director of Federal Home Loan Bank of Boston (a bank for banks) (2007-2009).

31


 

 
Eaton Vance Global Growth Fund 
 
MANAGEMENT AND ORGANIZATION CONT’D
 
                         
    Position(s)
  Term of
      Number of Portfolios
     
    with the
  Office and
  Principal Occupation(s)
  in Fund Complex
     
Name and
  Trust and
  Length of
  During Past Five Years and
  Overseen By
    Other Directorships Held
Date of Birth   the Portfolio   Service   Other Relevant Experience   Trustee(1)      During the Last Five Years(2) 
 
 
Noninterested Trustees (continued)
                         
Heidi L. Steiger
7/8/53
  Trustee   Since 2007   Managing Partner, Topridge Associates LLC (global wealth management firm) (since 2008); Senior Advisor (since 2008), President (2005-2008), Lowenhaupt Global Advisors, LLC (global wealth management firm). Formerly, President and Contributing Editor, Worth Magazine (2004-2005). Formerly, Executive Vice President and Global Head of Private Asset Management (and various other positions), Neuberger Berman (investment firm) (1986-2004).     185     Director of Nuclear Electric Insurance Ltd. (nuclear insurance provider), Aviva USA (insurance provider) and CIFG (family of financial guaranty companies), and Advisory Director of Berkshire Capital Securities LLC (private investment banking firm)
                         
Lynn A. Stout
9/14/57
  Trustee   Since 1998   Paul Hastings Professor of Corporate and Securities Law (since 2006) and Professor of Law (2001-2006), University of California at Los Angeles School of Law. Professor Stout teaches classes in corporate law and securities regulation and is the author of numerous academic and professional papers on these areas.     185     None
                         
Ralph F. Verni
1/26/43
  Chairman of
the Board
and Trustee
  Chairman of the Board since 2007 and
Trustee since 2005
  Consultant and private investor. Formerly, Chief Investment Officer (1982-1992), Chief Financial Officer (1988-1990) and Director (1982-1992), New England Life. Formerly, Chairperson, New England Mutual Funds (1982-1992). Formerly, President and Chief Executive Officer, State Street Management & Research (1992-2000). Formerly, Chairperson, State Street Research Mutual Funds (1992-2000). Formerly, Director, W.P. Carey, LLC (1998-2004) and First Pioneer Farm Credit Corp. (2002-2006).     185     None
 
Principal Officers who are not Trustees
 
             
    Position(s)
  Term of
   
    with the Trust
  Office and
   
Name and
  and the
  Length of
  Principal Occupation(s)
Date of Birth   Portfolio   Service   During Past Five Years
 
 
             
Duncan W. Richardson
10/26/57
  President of the Portfolio   Since 2002   Director of EVC and Executive Vice President and Chief Equity Investment Officer of EVC, EVM and BMR. Officer of 85 registered investment companies managed by EVM or BMR.
             
Edward R. Allen, III
7/5/60
  Vice President of the Portfolio   Since 2006   Senior Partner of Eagle. Officer of 3 registered investment companies managed by EVM and BMR.
             
Arieh Coll
11/9/63
  Vice President of the Portfolio   Since 2003   Vice President of EVM and BMR. Officer of 3 registered investment companies managed by EVM or BMR.
             
Thomas N. Hunt, III
11/6/64
  Vice President of the Portfolio   Since 2006   Senior Partner of Eagle. Officer of 3 registered investment companies managed by EVM or BMR.
             
Barbara E. Campbell
6/19/57
  Treasurer   Of the Trust since 2005 and of the Portfolio since 2008   Vice President of EVM and BMR. Officer of 185 registered investment companies managed by EVM or BMR.
             
Maureen A. Gemma
5/24/60
  Secretary and Chief Legal Officer   Secretary since 2007 and Chief Legal Officer since 2008   Vice President of EVM and BMR. Officer of 185 registered investment companies managed by EVM or BMR.
             
Paul M. O’Neil
7/11/53
  Chief Compliance Officer   Since 2004   Vice President of EVM and BMR. Officer of 185 registered investment companies managed by EVM or BMR.
 
(1) Includes both master and feeder funds in a master-feeder structure.

32


 

 
Eaton Vance Global Growth Fund 
 
MANAGEMENT AND ORGANIZATION CONT’D
 
(2) During their respective tenures, the Trustees also served as trustees of one or more of the following Eaton Vance funds (which operated in the years noted): Eaton Vance Credit Opportunities Fund (launched in 2005 and terminated in 2010); Eaton Vance Insured Florida Plus Municipal Bond Fund (launched in 2002 and terminated in 2009); and Eaton Vance National Municipal Income Fund (launched in 1998 and terminated in 2009).
 
The SAI for the Fund includes additional information about the Trustees and officers of the Fund and the Portfolio and can be obtained without charge on Eaton Vance’s website at www.eatonvance.com or by calling 1-800-262-1122.

33


 

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Sponsor and Manager of Eaton Vance Global Growth Fund
and Administrator of Global Growth Portfolio
Eaton Vance Management
Two International Place
Boston, MA 02110
 
 
 
Investment Adviser of Global Growth Portfolio
Boston Management and Research
Two International Place
Boston, MA 02110
 
 
 
Sub-Adviser of Global Growth Portfolio
Eagle Global Advisors, L.L.C.
5847 San Felipe, Suite 930
Houston, TX 77057
 
 
 
Principal Underwriter*
Eaton Vance Distributors, Inc.
Two International Place
Boston, MA 02110
(617) 482-8260
 
 
 
Custodian
State Street Bank and Trust Company
200 Clarendon Street
Boston, MA 02116
 
 
 
Transfer Agent
BNY Mellon Asset Servicing
Attn: Eaton Vance Funds
P.O. Box 9653
Providence, RI 02940-9653
(800) 262-1122
 
 
 
Independent Registered Public Accounting Firm
Deloitte & Touche LLP
200 Berkeley Street
Boston, MA 02116-5022
 
 
 
 
 
Eaton Vance Global Growth Fund
Two International Place
Boston, MA 02110
* FINRA BrokerCheck. Investors may check the background of their Investment Professional by contacting the Financial Industry Regulatory Authority (FINRA). FINRA BrokerCheck is a free tool to help investors check the professional background of current and former FINRA-registered securities firms and brokers. FINRA BrokerCheck is available by calling 1-800-289-9999 and at www.FINRA.org. The FINRA BrokerCheck brochure describing the program is available to investors at www.FINRA.org.
 
 
This report must be preceded or accompanied by a current prospectus or summary prospectus, if available. Before investing, investors should consider carefully the Fund’s investment objective(s), risks, and charges and expenses. The Fund’s current prospectus or summary prospectus, if available, contains this and other information about the Fund and is available through your financial advisor. Please read the prospectus carefully before you invest or send money. For further information please call 1-800-262-1122.


 

424-10/10 IASRC


 

Item 2. Code of Ethics
The registrant has adopted a code of ethics applicable to its Principal Executive Officer, Principal Financial Officer and Principal Accounting Officer. The registrant undertakes to provide a copy of such code of ethics to any person upon request, without charge, by calling 1-800-262-1122.
Item 3. Audit Committee Financial Expert
The registrant’s Board has designated William H. Park, an independent trustee, as its audit committee financial expert. Mr. Park is a certified public accountant who is the Chief Financial Officer of Aveon Group, L.P. (an investment management firm). Previously, he served as the Vice Chairman of Commercial Industrial Finance Corp. (specialty finance company), as President and Chief Executive Officer of Prizm Capital Management, LLC (investment management firm), as Executive Vice President and Chief Financial Officer of United Asset Management Corporation (an institutional investment management firm) and as a Senior Manager at Price Waterhouse (now PricewaterhouseCoopers) (an independent registered public accounting firm).
Item 4. Principal Accountant Fees and Services
(a)-(d)
The following table presents the aggregate fees billed to the registrant for the registrant’s fiscal years ended August 31, 2009 and August 31, 2010 by the registrant’s principal accountant, Deloitte & Touche LLP (“D&T”), for professional services rendered for the audit of the registrant’s annual financial statements and fees billed for other services rendered by D&T during such periods.
                 
Fiscal Years Ended   8/31/09     8/31/10  
 
Audit Fees
  $ 43,000     $ 43,000  
Audit-Related Fees(1)
  $ 0     $ 0  
Tax Fees(2)
  $ 13,510     $ 13,510  
All Other Fees(3)
  $ 2,500     $ 900  
Total
  $ 59,010     $ 57,410  
 
(1)   Audit-related fees consist of the aggregate fees billed for assurance and related services that are reasonably related to the performance of the audit of the registrant’s financial statements and are not reported under the category of audit fees.
 
(2)   Tax fees consist of the aggregate fees billed for professional services rendered by the principal accountant relating to tax compliance, tax advice, and tax planning and specifically include fees for tax return preparation and other related tax compliance/planning matters.
 
(3)   All other fees consist of the aggregate fees billed for products and services provided by the registrant’s principal accountant other than audit, audit-related, and tax services.
During the registrant’s fiscal years ended August 31, 2009 and August 31, 2010, $40,000 and $38,350 was billed, respectively, by D&T for work done in connection with its Rule 17Ad-13 examination of Eaton Vance Management’s assertion that it has maintained an effective internal control structure over sub-transfer agent and registrar functions, such services being pre-approved in accordance with Rule 2-01(c)(7)(ii) of Regulation S-X.
(e)(1) The registrant’s audit committee has adopted policies and procedures relating to the pre-approval of services provided by the registrant’s principal accountant (the “Pre-Approval Policies”). The Pre-Approval Policies establish a framework intended to assist the audit committee in the proper discharge of its pre-approval responsibilities. As a general matter, the Pre-Approval Policies (i) specify certain types of audit, audit-related, tax, and other services determined to be pre-approved by the audit committee; and (ii) delineate specific procedures governing the mechanics of the pre-approval process, including the approval and monitoring of audit and non-audit service fees. Unless a service is specifically pre-approved under the Pre-Approval Policies, it must be separately pre-approved by the audit committee.
The Pre-Approval Policies and the types of audit and non-audit services pre-approved therein must be reviewed and ratified by the registrant’s audit committee at least annually. The registrant’s audit

 


 

committee maintains full responsibility for the appointment, compensation, and oversight of the work of the registrant’s principal accountant.
(e)(2) No services described in paragraphs (b)-(d) above were approved by the registrant’s audit committee pursuant to the “de minimis exception” set forth in Rule 2-01 (c)(7)(i)(C) of Regulation S-X.
(f) Not applicable.
g) The following table presents (i) the aggregate non-audit fees (i.e., fees for audit-related, tax, and other services) billed for services rendered to the registrant by D&T for the registrant’s fiscal year ended August 31, 2009 and the fiscal year ended August 31, 2010; and (ii) the aggregate non-audit fees (i.e., fees for audit-related, tax, and other services) billed for services rendered to the Eaton Vance organization by D&T for the same time periods.
                 
Fiscal Years Ended   8/31/09   8/31/10
 
Registrant
  $ 16,010     $ 14,410  
Eaton Vance(1)
  $ 250,539     $ 240,551  
 
(1)   The investment adviser to the registrant, as well as any of its affiliates that provide ongoing services to the registrant, are subsidiaries of Eaton Vance Corp.
(h) The registrant’s audit committee has considered whether the provision by the registrant’s principal accountant of non-audit services to the registrant’s investment adviser and any entity controlling, controlled by, or under common control with the adviser that provides ongoing services to the registrant that were not pre-approved pursuant to Rule 2-01(c)(7)(ii) of Regulation S-X is compatible with maintaining the principal accountant’s independence.
Item 5. Audit Committee of Listed Registrants
Not required in this filing.
Item 6. Schedule of Investments
Please see schedule of investments contained in the Report to Stockholders included under Item 1 of this Form N-CSR.
Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies
Not required in this filing.
Item 8. Portfolio Managers of Closed-End Management Investment Companies
Not required in this filing.

 


 

Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers
Not required in this filing.
Item 10. Submission of Matters to a Vote of Security Holders
No Material Changes.
Item 11. Controls and Procedures
(a) It is the conclusion of the registrant’s principal executive officer and principal financial officer that the effectiveness of the registrant’s current disclosure controls and procedures (such disclosure controls and procedures having been evaluated within 90 days of the date of this filing) provide reasonable assurance that the information required to be disclosed by the registrant has been recorded, processed, summarized and reported within the time period specified in the Commission’s rules and forms and that the information required to be disclosed by the registrant has been accumulated and communicated to the registrant’s principal executive officer and principal financial officer in order to allow timely decisions regarding required disclosure.
(b) There have been no changes in the registrant’s internal controls over financial reporting during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.
Item 12. Exhibits
     
(a)(1)
  Registrant’s Code of Ethics — Not applicable (please see Item 2).
(a)(2)(i)
  Treasurer’s Section 302 certification.
(a)(2)(ii)
  President’s Section 302 certification.
(b)
  Combined Section 906 certification.

 


 

Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
         
Global Growth Portfolio
 
   
By:   /s/ Duncan W. Richardson      
  Duncan W. Richardson     
  President     
 
Date: October 15, 2010
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
         
     
By:   /s/ Barbara E. Campbell      
  Barbara E. Campbell     
  Treasurer     
 
Date: October 15, 2010
         
     
By:   /s/ Duncan W. Richardson      
  Duncan W. Richardson     
  President     
 
Date: October 15, 2010

 

EX-99.CERT 2 b83007a1exv99wcert.htm EX-99.CERT SECTION 302 CERTIFICATION EX-99.CERT Section 302 Certification
Global Growth Portfolio
FORM N-CSR
Exhibit 12(a)(2)(i)
CERTIFICATION
I, Barbara E. Campbell, certify that:
1. I have reviewed this report on Form N-CSR of Global Growth Portfolio;
2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;
4. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:
     (a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
     (b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
     (c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and
     (d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

 


 

5. The registrant’s other certifying officer(s) and I have disclosed to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
     (a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize, and report financial information; and
     (b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
Dated: October 15, 2010
         
     
  /s/ Barbara E. Campbell    
  Barbara E. Campbell   
  Treasurer   

 


 

         
Global Growth Portfolio
FORM N-CSR
Exhibit 12(a)(2)(ii)
CERTIFICATION
I, Duncan W. Richardson, certify that:
1. I have reviewed this report on Form N-CSR of Global Growth Portfolio;
2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;
4. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:
     (a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
     (b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
     (c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and
     (d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

 


 

5. The registrant’s other certifying officer(s) and I have disclosed to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
     (a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize, and report financial information; and
     (b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
Date: October 15, 2010
         
     
  /s/ Duncan W. Richardson    
  Duncan W. Richardson   
  President   

 

EX-99.906CERT 3 b83007a1exv99w906cert.htm EX-99.906CERT SECTION 906 CERTIFICATION EX-99.906CERT Section 906 Certification
         
Form N-CSR Item 12(b) Exhibit
CERTIFICATION PURSUANT TO
18 U.S.C. SECTION 1350,
AS ADOPTED PURSUANT TO
SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002
     The undersigned hereby certify in their capacity as Treasurer and President, respectively, of Global Growth Portfolio (the “Portfolio”), that:
(a)   The Annual Report of the Portfolio on Form N-CSR for the period ended August 31, 2010 (the “Report”) fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and
 
(b)   The information contained in the Report fairly presents, in all material respects, the financial condition and the results of operations of the Portfolio for such period.
A signed original of this written statement required by section 906 has been provided to the Portfolio and will be retained by the Portfolio and furnished to the Securities and Exchange Commission or its staff upon request.
Global Growth Portfolio
Date: October 15, 2010
         
     
/s/ Barbara E. Campbell      
Barbara E. Campbell     
Treasurer     
 
Date: October 15, 2010
         
     
/s/ Duncan W. Richardson      
Duncan W. Richardson     
President     
 

 

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