UNITED
STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
|
Investment Company Act File Number |
|
811-21229 |
|
|
|
|
|
|
|
|
|
Eaton Vance Insured New Jersey Municipal Bond Fund |
||
|
(Exact Name of Registrant as Specified in Charter) |
||
|
|
|
|
|
The Eaton Vance Building, |
|
02109 |
|
(Address of Principal Executive Offices) |
|
(Zip code) |
|
|
|
|
|
Maureen A. Gemma |
||
|
(Name and Address of Agent for Service) |
||
|
|
||
|
Registrant’s Telephone Number, Including Area Code: |
|
(617) 482-8260 |
|
|
|
|
|
Date of Fiscal Year End: |
|
September 30 |
|
|
|
|
|
Date of Reporting Period: |
|
June 30, 2008 |
Item 1. Schedule of Investments
|
Eaton Vance Insured New Jersey Municipal Bond Fund |
|
as of June 30, 2008 |
|
|
|
|
|
PORTFOLIO OF INVESTMENTS (Unaudited) |
|
|
Tax-Exempt Investments — 180.0%
|
Principal |
|
Security |
|
Value |
|
||
|
Hospital — 14.3% |
|
|
|
||||
|
$ |
100 |
|
Camden County Improvement Authority, (Cooper Health System), 5.00%, 2/15/25 |
|
$ |
92,841 |
|
|
180 |
|
Camden County Improvement Authority, (Cooper Health System), 5.00%, 2/15/35 |
|
156,204 |
|
||
|
150 |
|
Camden County Improvement Authority, (Cooper Health System), 5.25%, 2/15/27 |
|
141,811 |
|
||
|
1,300 |
|
Camden County Improvement Authority, (Cooper Health System), 5.75%, 2/15/34 |
|
1,254,344 |
|
||
|
600 |
|
New Jersey Health Care Facilities Financing Authority, (Atlanticare Regional Medical Center), 5.00%, 7/1/37 |
|
575,202 |
|
||
|
610 |
|
New Jersey Health Care Facilities Financing Authority, (Capital Health System), 5.375%, 7/1/33 |
|
575,236 |
|
||
|
575 |
|
New Jersey Health Care Facilities Financing Authority, (Capital Health System), 5.75%, 7/1/23 |
|
582,463 |
|
||
|
250 |
|
New Jersey Health Care Facilities Financing Authority, (Hunterdon Medical Center), 5.125%, 7/1/35 |
|
240,975 |
|
||
|
1,705 |
|
New Jersey Health Care Facilities Financing Authority, (South Jersey Hospital), 5.00%, 7/1/46 |
|
1,587,355 |
|
||
|
|
|
|
|
$ |
5,206,431 |
|
|
|
Insured-Electric Utilities — 3.8% |
|
|
|
||||
|
$ |
650 |
|
Puerto Rico Electric Power Authority, (FGIC), 5.25%, 7/1/34 |
|
$ |
642,726 |
|
|
750 |
|
Puerto Rico Electric Power Authority, (FGIC), 5.25%, 7/1/35 |
|
740,407 |
|
||
|
|
|
|
|
$ |
1,383,133 |
|
|
|
Insured-Escrowed/Prerefunded — 13.7% |
|
|
|
||||
|
$ |
4,645 |
|
Puerto Rico, (FGIC), Prerefunded to 7/1/12, 5.00%, 7/1/32 (1) |
|
$ |
4,967,044 |
|
|
|
|
|
|
$ |
4,967,044 |
|
|
|
Insured-General Obligations — 32.9% |
|
|
|
||||
|
$ |
2,260 |
|
Bayonne, (FSA), 0.00%, 7/1/22 |
|
$ |
1,134,927 |
|
|
2,415 |
|
Bayonne, (FSA), 0.00%, 7/1/23 |
|
1,147,801 |
|
||
|
560 |
|
Chesterfield Township School District, (AGC), 4.50%, 2/1/38 |
|
541,307 |
|
||
|
2,000 |
|
Hudson County Improvement Authority, (MBIA), 0.00%, 12/15/38 |
|
379,720 |
|
||
|
5,500 |
|
Irvington Township, (FSA), 0.00%, 7/15/26 |
|
2,193,730 |
|
||
|
2,785 |
|
Jackson Township School District, (MBIA), 2.50%, 6/15/27 |
|
2,007,512 |
|
||
|
280 |
|
Madison Borough Board of Education, (MBIA), 4.75%, 7/15/35 |
|
280,493 |
|
||
|
2,670 |
|
Monroe Township Board of Education, Middlesex County, (AGC), 4.75%, 3/1/34 |
|
2,668,665 |
|
||
|
265 |
|
Nutley School District, (MBIA), 4.50%, 7/15/29 |
|
260,044 |
|
||
|
310 |
|
Nutley School District, (MBIA), 4.75%, 7/15/30 |
|
312,260 |
|
||
|
410 |
|
Nutley School District, (MBIA), 4.75%, 7/15/31 |
|
412,087 |
|
||
|
430 |
|
Nutley School District, (MBIA), 4.75%, 7/15/32 |
|
431,845 |
|
||
|
210 |
|
South Orange and Maplewood School District, (AGC), 4.625%, 1/15/26 |
|
211,042 |
|
||
|
|
|
|
|
$ |
11,981,433 |
|
|
|
Insured-Hospital — 23.6% |
|
|
|
||||
|
$ |
2,750 |
|
New Jersey Health Care Facilities Financing Authority, (Englewood Hospital), (MBIA), 5.00%, 8/1/31 |
|
$ |
2,738,698 |
|
|
1,045 |
|
New Jersey Health Care Facilities Financing Authority, (Hackensack University Medical Center), (AGC), 5.25%, 1/1/31 |
|
1,079,736 |
|
||
|
2,000 |
|
New Jersey Health Care Facilities Financing Authority, (Hackensack University Medical Center), (AGC), 5.25%, 1/1/36 (1) |
|
2,055,740 |
|
||
|
100 |
|
New Jersey Health Care Facilities Financing Authority, (Hackensack University Medical Center), (AGC), 5.25%, 1/1/36 |
|
102,787 |
|
||
|
900 |
|
New Jersey Health Care Facilities Financing Authority, (Jersey City Medical Center), (AMBAC), 5.00%, 8/1/41 |
|
877,221 |
|
||
|
1,175 |
|
New Jersey Health Care Facilities Financing Authority, (Meridian Health Center), Series II, (AGC), 5.00%, 7/1/38 |
|
1,177,750 |
|
||
|
310 |
|
New Jersey Health Care Facilities Financing Authority, (Meridian Health Center), Series V, (AGC), 5.00%, 7/1/38 |
|
310,725 |
|
||
|
250 |
|
New Jersey Health Care Facilities Financing Authority, (Meridian Health Center), Series V, (AGC), 5.00%, 7/1/38 (1) |
|
250,585 |
|
||
|
|
|
|
|
$ |
8,593,242 |
|
|
1
|
Insured-Lease Revenue/Certificates of Participation — 15.6% |
|
|
|
||||
|
$ |
445 |
|
Gloucester County Improvements Authority, (MBIA), 4.75%, 9/1/30 |
|
$ |
445,774 |
|
|
265 |
|
Lafayette Yard Community Development Corporation, (Hotel and Conference Center), (FGIC), 5.00%, 4/1/35 |
|
261,515 |
|
||
|
1,250 |
|
Middlesex County, (MBIA), 5.00%, 8/1/31 |
|
1,256,325 |
|
||
|
1,000 |
|
New Jersey Economic Development Authority, (School Facilities), (AMBAC), 5.00%, 9/1/37 |
|
1,011,670 |
|
||
|
1,000 |
|
New Jersey Economic Development Authority, (School Facilities), (AMBAC), (FSA), 5.00%, 9/1/37 |
|
1,020,580 |
|
||
|
915 |
|
Newark Housing Authority, (Newark Marine Terminal), (MBIA), 5.00%, 1/1/32 |
|
914,369 |
|
||
|
795 |
|
Puerto Rico Public Buildings Authority, (CIFG), 5.25%, 7/1/36 |
|
777,884 |
|
||
|
|
|
|
|
$ |
5,688,117 |
|
|
|
Insured-Pooled Loans — 7.9% |
|
|
|
||||
|
$ |
2,850 |
|
Puerto Rico Municipal Finance Agency, (FSA), 5.00%, 8/1/27 (1) |
|
$ |
2,872,895 |
|
|
|
|
|
|
$ |
2,872,895 |
|
|
|
Insured-Public Education — 13.7% |
|
|
|
||||
|
$ |
1,945 |
|
New Jersey Educational Facilities Authority, (College of New Jersey), (FSA), 5.00%, 7/1/35 (1) |
|
$ |
1,991,147 |
|
|
725 |
|
New Jersey Educational Facilities Authority, (Montclair State University), (MBIA), 3.75%, 7/1/24 |
|
632,019 |
|
||
|
645 |
|
New Jersey Educational Facilities Authority, (William Paterson University), (AGC), 4.75%, 7/1/34 |
|
644,045 |
|
||
|
1,740 |
|
University of New Jersey Medicine and Dentistry, (AMBAC), 5.00%, 4/15/32 |
|
1,694,986 |
|
||
|
|
|
|
|
$ |
4,962,197 |
|
|
|
Insured-Sewer Revenue — 5.5% |
|
|
|
||||
|
$ |
1,175 |
|
Ocean County Utilities Authority, (MBIA), 5.25%, 1/1/26 |
|
$ |
1,277,977 |
|
|
2,000 |
|
Rahway Valley Sewerage Authority, (MBIA), 0.00%, 9/1/27 |
|
732,640 |
|
||
|
|
|
|
|
$ |
2,010,617 |
|
|
|
Insured-Special Tax Revenue — 7.4% |
|
|
|
||||
|
$ |
2,390 |
|
New Jersey Economic Development Authority, (Motor Vehicle Surcharges), (XLCA), 0.00%, 7/1/26 |
|
$ |
890,466 |
|
|
1,120 |
|
New Jersey Economic Development Authority, (Motor Vehicle Surcharges), (XLCA), 0.00%, 7/1/27 |
|
392,112 |
|
||
|
8,940 |
|
Puerto Rico Sales Tax Financing, (AMBAC), 0.00%, 8/1/54 |
|
620,525 |
|
||
|
1,520 |
|
Puerto Rico Sales Tax Financing, (MBIA), 0.00%, 8/1/44 |
|
195,153 |
|
||
|
3,015 |
|
Puerto Rico Sales Tax Financing, (MBIA), 0.00%, 8/1/45 |
|
364,905 |
|
||
|
1,900 |
|
Puerto Rico Sales Tax Financing, (MBIA), 0.00%, 8/1/46 |
|
216,429 |
|
||
|
|
|
|
|
$ |
2,679,590 |
|
|
|
Insured-Transportation — 26.0% |
|
|
|
||||
|
$ |
1,015 |
|
Delaware River Joint Toll Bridge Commission, (MBIA), 5.00%, 7/1/35 |
|
$ |
1,026,003 |
|
|
2,000 |
|
New Jersey Transportation Trust Fund Authority, (Transportation System), (AMBAC), 4.75%, 12/15/37 |
|
1,971,860 |
|
||
|
3,235 |
|
New Jersey Transportation Trust Fund Authority, (Transportation System), (BHAC), (FGIC), 0.00%, 12/15/31 |
|
969,141 |
|
||
|
3,875 |
|
Port Authority of New York and New Jersey, (FSA), 5.00%, 11/1/27 (1) |
|
3,952,632 |
|
||
|
1,250 |
|
Port Authority of New York and New Jersey, (FSA), 5.00%, 8/15/33 |
|
1,280,300 |
|
||
|
270 |
|
Puerto Rico Highway and Transportation Authority, (MBIA), 5.00%, 7/1/33 |
|
270,354 |
|
||
|
|
|
|
|
$ |
9,470,290 |
|
|
|
Insured-Water and Sewer — 7.6% |
|
|
|
||||
|
$ |
4,500 |
|
Middlesex County Improvements Authority, (Perth Amboy), (AMBAC), 0.00%, 9/1/24 |
|
$ |
1,955,925 |
|
|
1,320 |
|
Passaic Valley Sewerage Commissioners, (FGIC), 2.50%, 12/1/32 |
|
820,301 |
|
||
|
|
|
|
|
$ |
2,776,226 |
|
|
2
|
Senior Living/Life Care — 1.6% |
|
|
|
||||
|
$ |
600 |
|
New Jersey Economic Development Authority, (Fellowship Village), 5.50%, 1/1/25 |
|
$ |
582,282 |
|
|
|
|
|
|
$ |
582,282 |
|
|
|
Special Tax Revenue — 1.3% |
|
|
|
||||
|
$ |
500 |
|
New Jersey Economic Development Authority, (Cigarette Tax), 5.50%, 6/15/31 |
|
$ |
475,010 |
|
|
|
|
|
|
$ |
475,010 |
|
|
|
Transportation — 5.1% |
|
|
|
||||
|
$ |
1,825 |
|
South Jersey Port Authority, (Marine Terminal), 5.10%, 1/1/33 |
|
$ |
1,834,472 |
|
|
|
|
|
|
$ |
1,834,472 |
|
|
|
Total Tax-Exempt Investments — 180.0% |
|
$ |
65,482,979 |
|
|||
|
Other Assets, Less Liabilities — (18.2)% |
|
$ |
(6,608,967 |
) |
|||
|
Auction Preferred Shares Plus Cumulative Unpaid Dividends — (61.8)% |
|
$ |
(22,500,000 |
) |
|||
|
Net Assets Applicable to Common Shares — 100.0% |
|
$ |
36,374,012 |
|
|||
|
AGC |
— |
Assured Guaranty Corp. |
|
AMBAC |
— |
AMBAC Financial Group, Inc. |
|
BHAC |
— |
Berkshire Hathaway Assurance Corp. |
|
CIFG |
— |
CIFG Assurance North America, Inc. |
|
FGIC |
— |
Financial Guaranty Insurance Company |
|
FSA |
— |
Financial Security Assurance, Inc. |
|
MBIA |
— |
Municipal Bond Insurance Association |
|
XLCA |
— |
XL Capital Assurance, Inc. |
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 June 30, 2008, 87.6% of total 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 1.2% to 23.8% of total investments.
|
(1) |
|
Security represents the underlying municipal obligation of an inverse floating rate obligation held by the Fund. |
A summary of financial instruments at June 30, 2008 is as follows:
Interest Rate Swaps
|
Counterparty |
|
Notional |
|
Annual Fixed |
|
Floating Rate |
|
Effective Date/ |
|
Net |
|
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
|
Lehman Brothers, Inc. |
|
$ |
1,525,000 |
|
4.985 |
% |
3-month
USD- |
|
September 28,
2008/ |
|
$ |
2,969 |
|
|
|
Merrill Lynch Capital Services, Inc. |
|
2,500,000 |
|
4.9025 |
|
3-month
USD- |
|
July 9,
2008/ |
|
25,806 |
|
|||
|
Morgan Stanley Capital Services, Inc. |
|
925,000 |
|
5.428 |
|
3-month
USD |
|
September 10,
2008/ |
|
(62,704 |
) |
|||
|
|
|
|
|
|
|
|
|
|
|
$ |
(33,929 |
) |
||
The effective date represents the date on which the Fund and the counterparty to the interest rate swap contract begin interest payment accruals.
At June 30, 2008, the Fund had sufficient cash and/or securities to cover commitments under these contracts.
The cost and unrealized appreciation (depreciation) of investments of the Fund at June 30, 2008, as determined on a federal income tax basis, were as follows:
|
Aggregate cost |
|
$ |
54,947,056 |
|
|
Gross unrealized appreciation |
|
$ |
687,850 |
|
|
Gross unrealized depreciation |
|
(1,492,927 |
) |
|
|
Net unrealized depreciation |
|
$ |
(805,077 |
) |
3
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.
Eaton Vance Insured New Jersey Municipal Bond Fund
|
By: |
|
/s/ Robert B. MacIntosh |
|
|
|
Robert B. MacIntosh |
|
|
|
President |
|
|
|
|
|
Date: |
|
August 27, 2008 |
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/ Robert B. MacIntosh |
|
|
|
Robert B. MacIntosh |
|
|
|
President |
|
|
|
|
|
Date: |
|
August 27, 2008 |
|
|
|
|
|
By: |
|
/s/ Barbara E. Campbell |
|
|
|
Barbara E. Campbell |
|
|
|
Treasurer |
|
|
|
|
|
Date: |
|
August 27, 2008 |