Eaton Vance Credit Opportunities Fund (the Fund) is diversified, closed-end management investment company. The Fund’s primary investment objective is to provide a high level of current income. The Fund, as a secondary objective, also seeks capital appreciation. The Fund will invest at least 80% of its total assets in publicly and privately issued debt securities, and bank loans and loan participations, including senior secured, second lien secured and other types of secured and unsecured loan obligations (bank loans). it invests up to 10% of its assets in registered investment companies. The Fund invests in industries, such as healthcare, publishing, business equipment and services, leisure goods/activities/movies, and industrial equipment. Eaton Vance Management serves as the investment adviser of the Fund. The Fund may invest in Cash Management Portfolio (Cash Management), an affiliated investment company managed by Boston Management and Research, a subsidiary of EVM.