Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Evergreen Adds Disclosure Statement to Prospectuses Not Rated 5.0 Email Routing List Email & Route  Print Print
Tuesday, September 4, 2007

Evergreen Adds Disclosure Statement to Prospectuses

by: Erin Kello

Evergreen Investments has let its investors in on a little secret: they may have more exposure to sub-prime than they think.

On August 28, Evergreen updated the "Risk Factors” section of the Evergreen Short Intermediate Bond Fund, Evergreen Ultra Short Opportunities Fund and Evergreen VA Core Bond Fund prospectuses.

The new revised section reads:

If the Fund purchases mortgage-backed or asset-backed securities that are ’subordinated’ to other interests in the same mortgage pool, the Fund as a holder of those securities may only receive payments after the pool’s obligations to other investors have been satisfied. An unexpectedly high rate of defaults on the mortgages held by a mortgage pool may limit substantially the pool’s ability to make payments of principal or interest to the Fund as a holder of such subordinated securities, reducing the values of those securities or in some cases rendering them worthless; the risk of such defaults is generally higher in the case of mortgage pools that include so-called ’subprime’ mortgages. An unexpectedly high or low rate of prepayments on a pool’s underlying mortgages may have a similar effect on subordinated securities. A mortgage pool may issue securities subject to various levels of subordination; the risk of non-payment affects securities at each level, although the risk is greater in the case of more highly subordinated securities.  

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

5.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2025: Q4Q3Q2Q1
2024: Q4Q3Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly


    Sorry, no records in the database matched your search parameters. Clich back and try again.



  1. 2025 MMI Annual Conference, Oct 15-17
  2. MFDF webinar - Series Trust Funds - Effective Board Relationships with Advisers, October 15
  3. Nicsa webinar - Board Considerations: Fiduciary Duties and Decision-Making In ETF Dual Share Adoption, October 15
  4. WE Philadelphia - Fall Networking Happy Hour, October 16
  5. IMEA webinar - Rethinking Audience, Access, and Impact In Advisor-Facing Content, October 16
  6. WealthManagement.com webinar - Exploring the Longevity of the Manulife John Hancock/Boston Partners Collaboration, October 16
  7. MFDF webinar - From Awareness to Assets: Why Marketing Matters for Registered Funds, October 21
  8. Nicsa webinar - ETF Dual Share Classes: Preparing For Operational Success, October 22
  9. Citywire Pro Buyer Los Angeles Retreat 2025, Oct 22-23
  10. MFDF webinar - Latest in Closed-End Funds Litigations, October 23
  11. Samfund Soiree Manhattan 2025, October 23
  12. Tiburon CEO Summit XLIX, Oct 27-29
  13. IDC Fund Directors Conference, Oct 27-29
  14. IMEA Leadership Planning Meeting, October 28
  15. IMEA Leadership Summit, Oct 28-29
  16. IMEA Rising Star luncheon, October 28
  17. IMEA Boutique Managers luncheon, October 28
  18. IMEA Philanthropic Day, October 28
  19. 2025 Sohn San Francisco Investment Conference, October 28
  20. Nicsa ALFI webinar - The Proposed New Luxembourg Carried Interest Regime: Elixir of Life for Luxembourg Investment Funds?, October 29
  21. Schwab Impact 2025, Nov 2-4
  22. UCITS & AIFMD for U.S. Managers 2025, Nov 4-5
  23. MFDF In Focus webinar - Audit Committee Chair, November 5
  24. IMEA Digital Marketing Roundtable, November 5
  25. 2025 Nicsa Asset & Wealth Management Summit, Nov 11-12
  26. 2025 Expect Miracles In Boston Gala, November 13




©All rights reserved to InvestmentWires, Inc. 1997-2025
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use