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UNITED STATES |
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FORM N-Q |
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QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY
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Investment Company Act file number |
811-21229 |
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Eaton Vance Insured New Jersey Municipal Bond Fund |
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(Exact name of registrant as specified in charter) |
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The Eaton Vance Building, 255 State Street, Boston, Massachusetts |
02109 |
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(Address of principal executive offices) |
(Zip code) |
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Alan R. Dynner, Esq. |
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(Name and address of agent for service) |
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Registrant's telephone number, including area code: |
(617) 482-8260 |
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Date of fiscal year end: |
September 30 |
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Date of reporting period: |
December 31, 2004 |
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Item 1. Schedule of Investments
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Insured New Jersey Municipal Bond Fund |
as of December 31, 2004 |
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PORTFOLIO OF INVESTMENTS (Unaudited) |
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Tax-Exempt Investments — 155.9%
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Principal |
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Security |
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Value |
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Education — 3.3% |
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1,250 |
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New Jersey Educational Facilities Authority, (Stevens Institute of Technology), 5.25%, 7/1/32 |
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$ |
1,281,425 |
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$ |
1,281,425 |
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Hospital — 3.0% |
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500 |
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Camden County Improvement Authority, (Cooper Health), 5.75%, 2/15/34 |
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521,890 |
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610 |
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New Jersey Health Care Facilities Financing Authority, (Capital Health System), 5.375%, 7/1/33 |
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628,239 |
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$ |
1,150,129 |
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Insured-Escrowed/Prerefunded — 5.4% |
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1,550 |
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Puerto Rico, (FGIC), Variable Rate, Prerefunded to 7/1/12, 9.853%, 7/1/32 (1) (2) |
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2,099,258 |
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$ |
2,099,258 |
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Insured-General Obligations — 22.2% |
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2,260 |
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Bayonne, (FSA), 0.00%, 7/1/22 |
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992,999 |
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2,415 |
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Bayonne, (FSA), 0.00%, 7/1/23 |
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1,003,288 |
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1,500 |
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Bordentown Regional School District Board of Education, (FGIC), 5.00%, 1/15/30 (3) |
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1,550,100 |
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265 |
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Florence Township Fire District No. 1, (MBIA), 5.125%, 7/15/28 |
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279,408 |
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170 |
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Florence Township Fire District No.1, (MBIA), 5.125%, 7/15/29 |
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178,775 |
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5,500 |
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Irvington Township, (FSA), 0.00%, 7/15/26 |
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1,932,700 |
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1,500 |
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Jersey City, (FSA), 5.25%, 9/1/23 |
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1,628,970 |
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1,000 |
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Washington Township and Mercer County Board of Education, (FGIC), 5.00%, 1/1/27 |
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1,031,860 |
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$ |
8,598,100 |
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1
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Insured-Hospital — 10.4% |
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2,750 |
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New Jersey Health Care Facilities, (Englewood Hospital), (MBIA), 5.00%, 8/1/31 |
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$ |
2,816,990 |
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1,200 |
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New Jersey Health Care Facilities, (Jersey City Medical Center), (AMBAC), 5.00%, 8/1/41 |
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1,221,900 |
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$ |
4,038,890 |
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Insured-Lease Revenue / Certificates of Participation — 13.7% |
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2,670 |
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Lafayette Yard, Community Development Corporation, (Hotel and Conference Center), (FGIC), 5.00%, 4/1/35 |
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2,721,878 |
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1,250 |
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Middlesex County, (MBIA), 5.00%, 8/1/31 |
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1,281,287 |
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1,000 |
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Puerto Rico Public Building Authority, (CIFG), Variable Rate, 11.285%, 7/1/36 (1) (2) |
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1,292,750 |
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$ |
5,295,915 |
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Insured-Pooled Loans — 2.8% |
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950 |
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Puerto Rico Municipal Finance Agency, (FSA), Variable Rate, 10.535%, 8/1/27 (1) (2) |
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1,069,405 |
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$ |
1,069,405 |
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Insured-Private Education — 2.7% |
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1,000 |
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New Jersey Educational Facilities Authority, (Kean University), (FGIC), 5.00%, 7/1/28 |
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1,035,350 |
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$ |
1,035,350 |
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Insured-Public Education — 25.3% |
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1,400 |
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Monmouth, (Brookdale Community College), (AMBAC), 5.00%, 8/1/29 |
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1,433,334 |
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500 |
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New Jersey Educational Facilities Authority, (Rowan University), (FGIC), 5.00%, 7/1/27 |
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516,890 |
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1,600 |
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New Jersey Educational Facilities Authority, (Rowan University), (FGIC), 5.00%, 7/1/33 |
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1,643,792 |
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1,500 |
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New Jersey Educational Facilities Authority, (Rowan University), (FGIC), 5.125%, 7/1/30 |
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1,565,070 |
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4,490 |
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University of New Jersey Medicine and Dentistry, (AMBAC), 5.00%, 4/15/32 |
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4,625,418 |
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$ |
9,784,504 |
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Insured-Sewer Revenue — 6.5% |
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900 |
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Long Branch Sewer Authority, (FGIC), 4.75%, 6/1/23 |
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945,846 |
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2,350 |
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Passaic Valley Sewer Commissioners, (FGIC), 2.50%, 12/1/32 |
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1,560,611 |
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$ |
2,506,457 |
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2
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Insured-Special Tax Revenue — 10.1% |
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10,000 |
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Garden State New Jersey Preservation Trust, (FSA), 0.00%, 11/1/28 |
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$ |
3,092,700 |
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750 |
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New Jersey EDA, (Motor Vehicle Surcharges), (MBIA), 5.25%, 7/1/26 |
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837,488 |
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$ |
3,930,188 |
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Insured-Transportation — 22.5% |
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780 |
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Delaware River and Bay Authority, (MBIA), 5.00%, 1/1/33 |
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804,110 |
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800 |
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Newark Housing Authority, (Newark Marine Terminal), (MBIA), 5.00%, 1/1/23 |
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841,736 |
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1,500 |
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Newark Housing Authority, (Newark Marine Terminal), (MBIA), 5.00%, 1/1/37 |
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1,538,700 |
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1,290 |
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Port Authority of New York and New Jersey, (FSA), Variable Rate, 10.535%, 11/1/27 (1) (2) |
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1,446,812 |
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1,000 |
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Puerto Rico Highway and Transportation Authority, (MBIA), 5.00%, 7/1/33 |
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1,034,640 |
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950 |
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South Jersey Transportation Authority, (AMBAC), 5.00%, 11/1/29 |
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976,439 |
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2,000 |
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South Jersey Transportation Authority, (FGIC), 5.00%, 11/1/33 |
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2,068,500 |
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$ |
8,710,937 |
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Insured-Water and Sewer — 4.6% |
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4,500 |
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Middlesex County Improvements Authority Utilities System, (Perth Amboy), (AMBAC), 0.00%, 9/1/24 |
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1,765,350 |
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$ |
1,765,350 |
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Insured-Water Revenue — 4.7% |
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1,800 |
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Bayonne Municipal Utilities Authority, Water and Sewer Revenue, (XLCA), 4.75%, 4/1/33 |
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1,806,588 |
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$ |
1,806,588 |
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Lease Revenue/Certificates of Participation — 4.0% |
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1,500 |
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New Jersey EDA, (School Facilities), 5.00%, 6/15/26 |
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1,551,705 |
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$ |
1,551,705 |
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Senior Living / Life Care — 1.5% |
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600 |
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New Jersey EDA, (Fellowship Village), 5.50%, 1/1/25 |
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600,906 |
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$ |
600,906 |
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3
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Special Tax Revenue — 5.1% |
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150 |
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New Jersey EDA, (Cigarette Tax), 5.50%, 6/15/24 |
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$ |
155,703 |
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500 |
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New Jersey EDA, (Cigarette Tax), 5.50%, 6/15/31 |
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513,900 |
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500 |
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New Jersey EDA, (Cigarette Tax), 5.75%, 6/15/29 |
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524,700 |
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750 |
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New Jersey EDA, (Cigarette Tax), 5.75%, 6/15/34 |
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780,653 |
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$ |
1,974,956 |
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Transportation — 8.1% |
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1,250 |
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Port Authority of New York and New Jersey, 5.00%, 9/1/38 |
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1,276,988 |
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1,825 |
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South Jersey Port Authority, (Marine Terminal), 5.10%, 1/1/33 |
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1,869,293 |
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$ |
3,146,281 |
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Total Tax-Exempt Investments — 155.9% |
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$ |
60,346,344 |
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Other Assets, Less Liabilities — 2.2% |
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$ |
856,490 |
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Auction Preferred Shares Plus Cumulative Unpaid Dividends — (58.1)% |
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$ |
(22,503,450 |
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Net Assets Applicable to Common Shares— 100.0% |
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$ |
38,699,384 |
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AMBAC |
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AMBAC Financial Group, Inc. |
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CIFG |
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CDC IXIS Financial Guaranty North America, Inc. |
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FGIC |
- |
Financial Guaranty Insurance Company |
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FSA |
- |
Financial Security Assurance, Inc. |
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MBIA |
- |
Municipal Bond Insurance Association |
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XLCA |
- |
XL Capital Assurance, Inc. |
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The Fund invests primarily in debt securities issued by New Jersey municipalities. The ability of the issuers of the debt securities to meet their obligations may be affected by economic developments in a specific industry or municipality. In order to reduce the risk associated with such economic developments, at December 31, 2004, 83.9% of the securities in the portfolio of investments are backed by bond insurance of various financial institutions and financial guaranty assurance agencies. The aggregate percentage insured by an individual financial institution ranged from 2.1% to 27.7% of total investments.
4
(1) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. At December 31, 2004, the aggregate value of the securities is $5,908,225 or 15.3% of the Fund’s net assets.
(2) Security has been issued as a leveraged inverse floater bond. The stated interest rate represents the rate in effect at December 31, 2004.
(3) Security (or a portion thereof) has been segregated to cover margin requirements on open financial futures contracts.
5
A summary of financial instruments at December 31, 2004 is as follows:
Futures Contracts
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Expiration |
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Contracts |
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Position |
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Aggregate |
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Value |
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Net Unrealized |
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03/05 |
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150 U.S. Treasury Bond |
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Short |
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$ |
(16,527,487 |
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$ |
(16,875,000 |
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$ |
(347,513 |
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At December 31, 2004, the Fund had sufficient cash and/or securities to cover commitments under these contracts.
The cost and unrealized appreciation (depreciation) in value of the investments owned at December 31, 2004, as computed on a federal income tax basis, were as follows:
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Aggregate cost |
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$ |
57,138,027 |
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Gross unrealized appreciation |
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$ |
3,208,317 |
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Gross unrealized depreciation |
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— |
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Net unrealized appreciation |
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$ |
3,208,317 |
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6
Item 2. 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 on this Form N-Q 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 on this Form N-Q 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 fiscal quarter for which the report is being filed that have materially affected, or are reasonably likely to materially affect the registrant’s internal control over financial reporting.
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.
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Eaton Vance Insured New Jersey Municipal Bond Fund |
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By: |
/s/Thomas J. Fetter |
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Thomas J. Fetter |
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President and Principal Executive Officer |
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Date: |
February 18, 2005 |
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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.
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By: |
/s/Thomas J. Fetter |
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Thomas J. Fetter |
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President and Principal Executive Officer |
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Date: |
February 18, 2005 |
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By: |
/s/James L. O’Connor |
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James L. O’Connor |
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Treasurer and Principal Financial Officer |
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Date: |
February 18, 2005 |
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