This past weekend, the mergers and reorganizations of Evergreen and Wells Fargo Advantage mutual funds were completed, unifying the families under the brand of Wells Fargo Advantage Funds^®. Following the successful integration of fixed-income, money market, and two asset allocation funds one week ago, the equity, variable trust, and remaining asset allocation funds have also been integrated. Read More

 

 

SAN FRANCISCO— Wells Fargo Funds Management, LLC, announced today the completion of fund mergers and reorganizations that effectively unifies the mutual fund families of Wells Fargo & Company and the former Wachovia Corporation. The combination of the Wells Fargo Advantage and Evergreen Fund families positions Wells Fargo Advantage Funds as the eleventh-largest fund family in the United States, with $224.1 billion in assets under management (combined assets as of May 31, 2010)¹.

The consolidation was the final step in Wells Fargo Funds Management’s plan to simplify and strengthen the investment choices offered to shareholders. The Boards of Trustees of both fund families unanimously approved the proposals in January; shareholders subsequently approved the combination of the funds at meetings held in April, May, June, and July. Today’s announcement represents more than 18 months of a concerted effort to create a new fund family that leverages the investment capabilities of both organizations and provides tangible benefits to fund shareholders, including:

• A robust product lineup of 132 open- and closed-end mutual funds and variable trust funds²;
• Lowered expense ratios for many funds, resulting in approximately $30 million in fee reductions across the fund family³;
• The introduction of a three-year expense ratio cap for merged or reorganized Evergreen Funds, during which time fund fees cannot be raised, only reduced;
• A fund family in which 45% of mutual funds are rated four- or five-star by Morningstar^®, compared with the industry average of
  32.5%⁴;
• A newly formed team of investment strategists who publish timely, topical insight and analysis into key areas of the markets and economy; and
• An expanded team of client relationship and service representatives, including award-winning call centers in both Boston, Massachusetts, and Menomonee Falls, Wisconsin, and an expanded nationwide network of sales professionals supporting intermediary clients.

"We have created a highly competitive mutual fund family that is compelling to our clients and will meet their diverse and evolving needs," said Karla Rabusch, president of Wells Fargo Advantage Funds. "The integration delivers several benefits to our current and prospective clients. These benefits include a new array of offerings that reflects the best investment capabilities from both fund families, lower expenses for many shareholders, and an enhanced ability to work closely with clients to help them reach their financial goals."

The integration included the reorganization of 27 Evergreen Funds into new Wells Fargo Advantage Funds and the merger of 53 mutual funds from both families. In addition, as previously announced on July 9, 2010, new advisory and subadvisory contracts, Trustee appointments, and name changes were approved for four former Evergreen closed-end funds.

For a comprehensive overview of the reorganized and merged funds, please use the Merger Conversion Tool.

¹ Source: Strategic Insight
² Total includes two Wells Fargo Managed Account CoreBuilder^® Shares but does not include offshore funds.
³ Reflects calculation of expense reductions based on assets as of June 30, 2010, and for long-term funds, derived from expense ratios, including both voluntary and contractual waivers, as reflected in current prospectuses and for money market funds, from an analysis of expense ratios, during a more normalized interest rate environment, compared with current contractual expense ratios.
⁴ Total excludes Wells Fargo Advantage Money Market Funds. As of June 30, 2010, 45% of the combined fund family long-term mutual funds, based on load-waived A shares, received a four- or five-star rating from Morningstar. For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating^TM based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund’s monthly performance (including the effects of sales charges, loads, and redemption fees, unless otherwise indicated), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive five stars, the next 22.5% receive four stars, the next 35% receive three stars, the next 22.5% receive two stars, and the bottom 10% receive one star. (Each share class is counted as a fraction of one fund within this scale and is rated separately, which may cause slight variations in the distribution percentages.) The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its three-, five-, and ten-year (if applicable) Morningstar Rating metrics. Past performance is no guarantee of future results.

About Wells Fargo Funds Management
Wells Fargo Funds Management, LLC, a wholly owned subsidiary of Wells Fargo & Company (NYSE: WFC), provides investment advisory and administrative services for Wells Fargo Advantage Funds. Other affiliates of Wells Fargo & Company provide subadvisory and other services for the Funds. The Funds are distributed by Wells Fargo Funds Distributor, LLC, Member FINRA/SIPC, an affiliate of Wells Fargo & Company. The organization has more than $166.5 billion in portfolio assets under management (as of May 31, 2010). Wells Fargo Advantage Funds is a registered trademark of Wells Fargo Funds Management, LLC. For more information on Wells Fargo Advantage Funds, please visit www.wellsfargo.com/advantagefunds.

Strength. Expertise. Partnership.
Wells Fargo Advantage Funds skillfully guides institutions, financial advisors, and individuals through the investment terrain to help them reach their financial objectives. Everything we do on behalf of our investors is built on the standards of integrity and service established by our parent company, Wells Fargo & Company; the expertise of our independent investment teams and rigorous ongoing investment review processes; and the collaborative level of superior service that is our trademark.

About Wells Fargo & Company
Wells Fargo & Company is a diversified financial services company with $1.2 trillion in assets (as of March 31, 2010), providing banking, insurance, investments, mortgage, and consumer and commercial finance through more than 10,000 stores and 12,000 ATMs and the Internet (wellsfargo.com and wachovia.com) across North America and internationally.

Stock fund values fluctuate in response to the activities of individual companies and general market and economic conditions. Bond fund values fluctuate in response to the financial condition of individual issuers, general market and economic conditions, and changes in interest rates. In general, when interest rates rise, bond fund values fall and investors may lose principal value. Some funds, including nondiversified funds and funds investing in foreign investments, high-yield bonds, small and mid cap stocks, and/or more volatile segments of the economy, entail additional risk and may not be appropriate for all investors. Consult a fund's prospectus for additional information on these and other risks.

The closed-end funds are no longer offered as an initial public offering and are only offered through broker/dealers on the secondary market. A closed-end fund is not required to buy its shares back from investors upon request.

An investment in a money market fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the Wells Fargo Advantage Money Market Funds seek to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in a money market fund.

The Variable Trust Funds are generally available only through insurance company variable contracts.

 

 

Wells Fargo Funds Management, LLC, announced today the completion of fund mergers and reorganizations that effectively unifies the mutual fund families of Wells Fargo & Company and the former Wachovia Corporation. The combination of the Wells Fargo Advantage and Evergreen Fund families positions Wells Fargo Advantage Funds as the eleventh-largest fund family in the United States. Read More

 

This table will show how share balances were calculated for Wells Fargo Advantage Funds^® shareholders who held shares in either an Evergreen or a Wells Fargo Advantage Fund that was acquired by a new or existing Wells Fargo Advantage Fund. Get Started

The Merger Conversion Tool is designed to provide you with easy access to more detailed information regarding the product line of the combined Wells Fargo Advantage Funds and Evergreen Funds. Get Started

 

 

This past weekend, 35 Evergreen and Wells Fargo Advantage funds were successfully merged or reorganized, bringing the integration of the two fund families as Wells Fargo Advantage Funds closer to completion. Read More

 

 

SAN FRANCISCO—As part of the integration of the Evergreen and Wells Fargo Advantage mutual fund families, Wells Fargo Funds Management, LLC, and Evergreen Investments announced today that shareholders have approved proposals for new advisory and subadvisory contracts and the nomination of trustees for four Evergreen closed-end funds: Evergreen Income Advantage Fund (NYSE Amex: EAD), Evergreen Multi-Sector Income Fund (NYSE Amex: ERC), Evergreen Utilities and High Income Fund (NYSE Amex: ERH), and Evergreen Global Dividend Opportunity Fund (NYSE: EOD). In addition, the four Funds have been renamed, effective after the close of business on July 9, 2010. The trading symbols for each of the four Funds will not change.

Former Closed-End Fund Name	New Closed-End Fund Name
Evergreen Income Advantage Fund	Wells Fargo Advantage Income Opportunities Fund (NYSE Amex: EAD)
Evergreen Multi-Sector Income Fund	Wells Fargo Advantage Multi-Sector Income Fund (NYSE Amex: ERC)
Evergreen Utilities and High Income Fund	Wells Fargo Advantage Utilities and High Income Fund (NYSE Amex: ERH)
Evergreen Global Dividend Opportunity Fund	Wells Fargo Advantage Global Dividend Opportunity Fund (NYSE: EOD)

The shareholder meeting for the Evergreen International Balanced Income Fund (NYSE: EBI) has been adjourned for all proposals until July 30, 2010. Shareholder votes for the Fund will continue to be solicited and accepted until the next meeting date.

For more information, please visit the News Room page on EvergreenInvestments.com or www.wellsfargo.com/advantagefunds under the Press Room, or contact your financial advisor, or call 1-800-343-2898.

The foregoing is not a solicitation of any proxy. The definitive proxy statement relating to the proposals for the Evergreen International Balanced Income Fund has been filed with the Securities and Exchange Commission (SEC). Obtain a free copy of each Fund’s proxy statement may be obtained by calling 1-800-343-2898 or by visiting www.EvergreenInvestments.com. Each proxy statement will also be available for free on the SEC’s Web site at www.sec.gov. You should read the proxy statement carefully because it contains important information.

These closed-end funds are no longer offered as an initial public offering and are only offered through broker/dealers on the secondary market. Unlike an open-end mutual fund, a closed-end fund offers a fixed number of shares for sale. After the initial public offering, shares are bought and sold in the secondary marketplace, and the market price of the shares is determined by supply and demand, not by net asset value (NAV), often at a lower price than the NAV. A closed-end fund is not required to buy its shares back from investors upon request.

Various statements contained in this press release are "forward looking statements." All forward-looking statements involve risks and uncertainties. In particular, any statement contained in this press release regarding expectations or assumptions are subject to risks, uncertainties, and contingencies, including market risks, which are beyond our control, and which may cause actual results or achievements to differ materially and perhaps substantially from anticipated results or achievements. Evergreen Investments and the Evergreen Funds do not make any representations or warranties (express or implied) about the accuracy of such forward-looking statements.

About Evergreen Investments
Evergreen Investments is one of the brand names under which Wells Fargo & Company (NYSE:WFC) conducts its investment management business and is part of the Wells Fargo Asset Management Group. Wells Fargo & Company is a diversified financial services company with $1.2 trillion in assets as of March 31, 2010, providing banking, insurance, investments, mortgage, and consumer finance through almost 11,000 stores and the Internet (www.WellsFargo.com) across North America and internationally. The Wells Fargo Asset Management Group serves individual and institutional investors through a broad range of investment products; strives to meet client investment objectives through disciplined, team-based asset management; and manages more than $465 billion in assets as of March 31, 2010.

On July 6, 2010, a significant milestone was met when shareholders of the Evergreen New York Municipal Money Market Fund approved a reorganization proposal for the Fund as a Wells Fargo Advantage Fund. Read More

 

 

On June 29, 2010, shareholders of 11 Evergreen Funds approved reorganizations or mergers of their Funds into acquiring Wells Fargo Advantage Funds, bringing the combination of the two fund families closer to completion. The mergers and reorganizations are expected to occur during July 2010. Read More

 

 

On June 21, 2010, shareholders of 21 Wells Fargo Advantage and Evergreen Funds approved the merger or reorganization of their Funds into acquiring Wells Fargo Advantage Funds, bringing the combination of the two fund families closer to completion. The mergers and reorganizations are expected to occur in July 2010. Read More

 

 

On June 18, 2010, shareholders of five Wells Fargo Advantage and Evergreen Funds approved the merger or reorganization of their Funds into acquiring Wells Fargo Advantage Funds, bringing the combination of the two Fund families closer to completion. The mergers and reorganizations are expected to occur in July 2010. Read More

 

 

On June 8, 2010, shareholders of 35 Evergreen and Wells Fargo Advantage Funds approved the merger or reorganization of their Funds into acquiring Wells Fargo Advantage Funds, bringing the combination of the two Fund families closer to completion. The mergers and reorganizations are expected to occur in July 2010. Read More

 

 

Portfolio Manager Aziz Hamzaogullari has left Evergreen Investments and Wells Capital Management to pursue other opportunities. Mr. Hamzaogullari served as portfolio manager for the Evergreen Large Company Growth Fund, the Evergreen Omega Fund, and the Evergreen VA Omega Fund.

Thomas J. Pence, CFA, and Michael T. Smith, CFA, of Evergreen Investment Management Company and Wells Capital Management, have assumed the portfolio management responsibilities for the Evergreen Omega Fund and the Evergreen VA Omega Fund. Mr. Pence also serves as a portfolio manager for the Wells Fargo Advantage Capital Growth Fund, the Wells Fargo Advantage Discovery Fund^SM, the Wells Fargo Advantage Endeavor Select Fund^SM, and the Wells Fargo Advantage Enterprise Fund^SM. Mr. Smith also serves as a portfolio manager for the Wells Fargo Advantage Endeavor Select Fund. Mr. Pence and Mr. Smith will continue to be supported by the Fundamental Growth Equity team.

Thomas C. Ognar, CFA, Bruce C. Olson, CFA, and Joseph M. Eberhardy, CFA, also of Evergreen Investment Management and Wells Capital Management, have assumed the portfolio management responsibilities for the Evergreen Large Company Growth Fund. Mr. Ognar, Mr. Olson, and Mr. Eberhardy also serve as portfolio managers for the Wells Fargo Advantage Large Cap Growth Fund, the Wells Fargo Advantage Growth Fund, and the Wells Fargo Advantage Emerging Growth Fund. They will continue to be supported by the Multi-Cap Growth Equity team.

With the depth of resources available for portfolio management, we do not anticipate any significant disruption to the day-to-day management of the Funds. We are confident in the wealth of talent contained in our portfolio management teams and believe that the appointment of these portfolio managers will result in a seamless transition and continuity of the investment processes for these products.

The following questions and answers provide details about the investment teams that support these Funds.

Can you tell me more about Thomas Pence and Michael Smith?

Thomas Pence is managing director and portfolio manager at Evergreen Investment Management and Wells Capital Management. He serves as the team leader of the Fundamental Growth Equity team. He joined Wells Capital Management from Strong Capital Management, where he served as a lead portfolio manager. Prior to joining Strong in 2000, Mr. Pence served as senior vice president and chief equity investment officer of Conseco Capital Management. While at Conseco, he was responsible for managing all tax-exempt and taxable growth equity portfolios and various mutual funds within the Conseco Fund Group. Prior to joining Conseco in 1991, Mr. Pence worked for the Forum Group, where he oversaw several transactions as part of the firm's development and acquisition team. Before that, he was a financial consultant with Peterson & Company in Chicago. Mr. Pence holds a bachelor's degree in business from Indiana University and a master's degree in business administration with honors from the University of Notre Dame. He is a former board member of the Reese Investment Fund for Indiana University and has served as a director of the Indianapolis Society of Financial Analysts. Mr. Pence has earned the right to use the Chartered Financial Analyst^® (CFA^®) designation.

Michael Smith is a portfolio manager at Evergreen Investment Management and Wells Capital Management who also serves as a research analyst with primary responsibilities covering the health care sector for the Fundamental Growth Equity team. He joined Wells Capital Management from Strong Capital Management, having joined Strong in 2000. Prior to that, Mr. Smith was responsible for assisting in the research and portfolio management effort for Conseco Capital Management equity portfolios. Prior to joining Conseco, Mr. Smith attended DePauw University, where he graduated with a bachelor's degree in economics. Mr. Smith has earned the right to use the CFA designation.

What are the resources of the Fundamental Growth Equity team?

The Fundamental Growth Equity team has 19 team members. It is a highly experienced team with the depth of investment experience and industry specialization to effectively execute its investment process. The team includes 14 portfolio managers/analysts, two traders, and three research assistants.

Can you tell me more about Thomas Ognar, Bruce Olson, and Joseph Eberhardy?

Thomas Ognar is a managing director and portfolio manager at Evergreen Investment Management and Wells Capital Management. Mr. Ognar joined Wells Capital Management's Multi-Cap Growth team with the acquisition of assets from Strong Capital Management. Mr. Ognar entered the investment industry in 1993 and joined Strong in 1998 as a research analyst. Prior to that, he was a research analyst with M&I Investment Management, Inc., and a trader with Republic Securities, Inc. Mr. Ognar earned a bachelor's degree in finance from Miami University. He earned a master's degree in finance from the University of Wisconsin–Madison, and is an alumnus of the Applied Security Analysis Program. Mr. Ognar has earned the right to use the CFA designation.

Bruce Olson is a managing director and portfolio manager for the Growth Equity team at Evergreen Investment Management and Wells Capital Management. He joined Wells Capital Management's Multi-Cap Growth team from Strong Capital Management, where he held a similar position. Mr. Olson entered the investment industry in 1982, and prior to joining Strong in 1994, he served as a managing partner of a private holding company. Previously, he was employed by Minton Investment Corporation, American National Bank and Trust of Chicago, and the Travelers Corporation. Mr. Olson earned a bachelor's degree from Gustavus Adolphus College. He has earned the right to use the CFA designation.

Joseph Eberhardy is a portfolio manager at Evergreen Investment Management and Wells Capital Management. He joined Wells Capital Management's Multi-Cap Growth team from Strong Capital Management, having joined Strong in 1994. Prior to his current role, Mr. Eberhardy was a senior research analyst with the Growth Equity team. Before joining the Growth Equity team in 2000, his previous roles at Strong Capital Management included small- to mid-cap equity analyst, high-yield bond trader, and fixed-income accounting manager. Mr. Eberhardy earned a bachelor's degree in accounting from the University of Wisconsin–Milwaukee. He is a Certified Public Accountant and has earned the right to use the CFA designation.

What are the resources of the Multi-Cap Growth Equity team?

The Multi-Growth Equity team has ten team members. It is a highly experienced team with the depth of investment experience and industry specialization to effectively execute its investment process. The team includes three portfolio managers, three senior research analysts, two traders, a product specialist, and a research assistant.

Do these changes present a capacity issue for any of these managers?

No. Thomas Pence, Michael Smith, Thomas Ognar, Bruce Olson, and Joseph Eberhardy are highly experienced investment professionals, and we believe that they will be able to seamlessly extend their investment philosophy and process to these respective mandates while leveraging the expertise of their investment teams.

Will the departure of Mr. Hamzaogullari result in any investment changes for the Funds?

The investment objective, style, and principal investment strategy for each of the Funds remain unchanged. The Evergreen Omega Fund will continue to invest primarily, and under normal conditions substantially all of its assets, in common stocks of U.S. companies of any market capitalization, and the Evergreen Large Company Growth Fund will continue to invest at least 80% of its assets in common stocks of large U.S. companies whose market capitalizations fall within the market capitalization range of the Russell 1000^® Index.

However, as part of the transition, the research and stock selection processes will be aligned with the current processes for the respective portfolio management teams assuming responsibility for the Funds.

In a previous Product Alert, it was announced that these Funds would be affected by the anticipated reorganizations of the Wells Fargo Advantage Funds and Evergreen Funds family mergers, scheduled for July 2010. Will the portfolio manager changes affect those proposals?

Currently, shareholders are voting on proposals to merge the Evergreen Large Company Growth Fund and the Wells Fargo Advantage Large Company Growth Fund into the newly created Wells Fargo Advantage Premier Large Company Growth Fund; to merge the Evergreen VA Omega Fund and the Wells Fargo Advantage VT Large Company Growth Fund into the newly created Wells Fargo Advantage VT Omega Growth Fund; and to merge the Evergreen Omega Fund into the newly created Wells Fargo Advantage Omega Growth Fund.

It is proposed that Thomas Ognar, Bruce Olson, and Joseph Eberhardy will serve as portfolio managers for the newly created Wells Fargo Advantage Premier Large Company Growth Fund, and that Thomas Pence and Michael Smith will serve as portfolio managers for the newly created Wells Fargo Advantage VT Omega Growth Fund and the newly created Wells Fargo Advantage Omega Growth Fund.

How does this change affect the current proxy process?

We will be providing the information regarding portfolio management appointments to shareholders of record for the Evergreen Large Company Growth, Wells Fargo Advantage Large Company Growth, Evergreen Omega, Evergreen VA Omega, and Wells Fargo Advantage VT Large Company Growth Funds, and allowing additional time for shareholders to consider this information and vote their proxies.

On May 20, 2010, prospectus supplements were filed with the Securities and Exchange Commission (SEC) reflecting the changes to the affected Evergreen Funds. It is expected that supplements to the prospectus/proxy statements of the proposed acquiring Funds slated to receive assets in the mergers and shell reorganizations will be filed with the SEC on May 21, 2010.

In order to provide shareholders with additional time to consider the portfolio management appointments and the mergers and shell reorganizations for the affected Funds, the Funds plan to adjourn the shareholder meeting scheduled for June 8, 2010, until June 18, 2010. This does not affect the shareholder meeting scheduled for June 8, 2010, to consider other proposed mergers and shell reorganizations.

When are these portfolio manager changes effective?

These changes are effective immediately.

 

This is not an offer to sell, nor a solicitation of an offer to buy, shares of any investment company, nor is it a solicitation of any proxy.

Additional information and where to find it
In connection with the proposed transaction, the acquirer has filed a Prospectus/Proxy Statement with the Securities and Exchange Commission (SEC). All shareholders are advised to read this Prospectus/Proxy Statement in its entirety when it becomes available, because it will contain important information regarding the acquirer, the target, the transaction, the persons soliciting proxies in connection with the transaction, and the interests of these persons in the transaction and related matters. The target intends to mail the Prospectus/Proxy Statement to its shareholders once such Prospectus/Proxy Statement is declared effective by the SEC. Shareholders may obtain a free copy of the Prospectus/Proxy Statement when available and other documents filed by the acquirer with the SEC at the SEC's Web site at http://www.sec.gov. Free copies of the Prospectus/Proxy Statement, once available, may be obtained by directing a request via mail, phone, or e-mail to acquirer, Wells Fargo Advantage Funds, P.O. Box 8266, Boston, MA, 02266-8266, 1-800-222-8222, www.wellsfargo.com/advantagefunds. Free copies of the Prospectus/Proxy Statement, once available, also may be obtained by directing a request via mail or fax to target, Evergreen Funds, 200 Berkeley Street, Boston, MA, 02116, 1-800-343-2898, www.evergreeninvestments.com. In addition to the Prospectus/Proxy Statement, the target and the acquirer file annual and semi-annual reports and other information with the SEC. You may read and copy any reports, statements, or other information filed by the target or the acquirer at the SEC's public reference rooms at 100 F Street, N.E., Washington, D.C., 20549-0213. Please call the Commission at 1-800-SEC-0330 for further information on the public reference room. Filings made with the SEC by either the target or the acquirer are also available to the public from commercial document-retrieval services and at the Web site maintained by the SEC at http://www.sec.gov.

Participants in the solicitation
The acquirer, the target and their respective directors, executive officers, and certain members of their management and other employees may be soliciting proxies from shareholders in favor of the transaction and other related matters. Information concerning persons who may be considered participants in the solicitation of the target's shareholders under the rules of the SEC will be set forth in the Prospectus/Proxy Statement filed by the acquirer with the SEC in April 2010.

The Evergreen Funds' investment objective may be changed without a vote of the funds' shareholders. Stock fund values fluctuate in response to the activities of individual companies and general market and economic conditions. The use of derivatives may reduce returns and/or increase volatility. Active trading results in increased turnover and trading expenses and may generate higher short-term capital gains. Certain investment strategies tend to increase the total risk of an investment (relative to the broader market). Funds investing in foreign investments, small and mid cap stocks, and/or more volatile segments of the economy, entail additional risk and may not be appropriate for all investors. Consult a Fund's prospectus for additional information on these and other risks.

The Variable Trust and Variable Annuity Funds are generally available only through insurance company variable contracts.

Refer to your prospectus/proxy statement or proxy card for details on your voting options. If you have questions about voting your proxy, please call 1-800-499-8519 for assistance.

You will need the control number found on your proxy card when placing your vote:

• Online - Visit our Proxy Center for online proxy voting information and instructions
• By Phone - Shareholders: 1-800-499-8519; Financial Advisors (if authorized to vote on behalf of clients): 1-866-406-2288.
• By Mail - Sign and date the proxy card that was sent to you - return in the prepaid postage envelope provided.

Why is voting important?

• A prompt vote can help ensure the timely integration of the Evergreen Funds and the Wells Fargo Advantage Funds^® families.
• A majority response is required for each fund, so we are legally obligated to solicit by proxy for shareholder votes.
• Our proxy vendor, The Altman Group, will contact shareholders until a majority response is received on each fund.

Remember to check our Proxy Center for more proxy voting information.

 

 

This is not an offer to sell, nor a solicitation of an offer to buy, shares of any investment company, nor is it a solicitation of any proxy.

Additional Information and Where to Find It: In connection with the proposed shell reorganizations and mergers, the acquirer will file a prospectus/proxy statement with the Securities and Exchange Commission. All shareholders are advised to read the prospectus/proxy statement in its entirety when it becomes available, because it will contain important information regarding the acquirer, the target, the transaction, fees, expenses, risk considerations, the persons soliciting proxies in connection with the transaction and the interests of these persons in the transaction and related matters. Target intends to mail the prospectus/proxy statement to its shareholders once it is declared effective by the Commission. Shareholders may obtain a free copy of the prospectus/proxy statement when available and other documents filed by the acquirer with the Commission at the Commission's web site at http://www.sec.gov. Free copies of the prospectus/proxy statement, once available, may also be obtained by directing a request via mail, phone or e-mail to acquirer, Wells Fargo Advantage Funds, P.O. Box 8266, Boston MA, 02266-8266, 1-800-222-8222, or at www.wellsfargo.com/advantagefunds or by directing a request via mail or fax to target, Evergreen Funds, 200 Berkeley Street, Boston, MA, 02116, 1-800-343-2898, or at www.evergreeninvestments.com. The target and the acquirer also file annual and semi-annual reports and other information with the Commission. You may read and copy any reports, statements, or other information filed by the target or the acquirer at the Commission's public reference rooms at 100 F Street, N.E., Washington, D.C., 20549-0213. Please call the Commission at 1-800-SEC-0330 for further information on the public reference room. Filings made with the Commission by either the target or the acquirer are also available to the public from commercial document-retrieval services and at the Web site maintained by the Commission at http://www.sec.gov.

Participants in the Solicitation: The acquirer, the target and their respective directors, executive officers, and certain members of their management and other employees may be soliciting proxies from shareholders in favor of the transaction and other related matters. Information concerning persons who may be considered participants in the solicitation of the target's shareholders under the rules of the SEC will be set forth in the Prospectus/Proxy Statement filed by the acquirer with the SEC in March 2010.

On March 3, 2010, we filed a definitive prospectus/proxy statement with the Securities and Exchange Commission (SEC) that proposes the mergers of three Evergreen Funds (Evergreen Core Plus Bond Fund, Evergreen Core Bond Fund, and Evergreen Short Intermediate Bond Fund) and one Wells Fargo Advantage Fund (Wells Fargo Advantage Diversified Bond Fund). The proxy seeks shareholder approval to merge these Funds into two acquiring Wells Fargo Advantage Funds. The prospectus/proxy statement is the first of 11 proxy statements expected to be filed with the SEC in the first quarter of 2010 as part of an overall plan to reorganize the Evergreen Funds into the Wells Fargo Advantage Funds family.

 

Recently, the Boards of Trustees of Wells Fargo Advantage Funds and Evergreen Funds approved the merger of our fund families and a proposed new fund lineup that will be branded under the Wells Fargo Advantage Funds name. As you can see, we've made significant progress toward bringing our two organizations together.

The proposed fund family was developed after thoughtful and thorough evaluation of each fund and the needs of our investors. We believe the result is a powerful and comprehensive array of products that leverages the strengths of both organizations to benefit you and your clients through access to:

• Our combined investment expertise, with independent portfolio teams that will continue to adhere to their own distinct strategies and processes.
• Fund choices with highly competitive fee structures that, for many shareholders, are expected to result in reductions in fund expenses.
• A family of mutual funds with even greater depth and breadth than before, including more choices in investment styles and strategies.
• Complementary investment solutions, such as separately managed accounts, college investing plans, and retirement products.

What to expect in the coming months
Proxies for the reorganization of our fund families are expected to be mailed to shareholders during the early part of the second quarter of 2010, with shareholder meetings held in early summer. Upon shareholder approval, the reorganizations (and other related changes) will likely be completed in mid-summer. Watch for additional information regarding the proxy mailings.

How to obtain additional information
For an overview of our proposed new fund lineup, click here. Your existing relationship contacts can provide you with additional insight and answer any questions you may have. We will continue to keep you posted on our progress in the integration of our two mutual fund organizations.

Sincerely,



Karla M. Rabusch
President
Wells Fargo Advantage Funds

 

Additional Information and Where to Find it
In connection with the proposed transaction, the acquirer will file a Proxy Statement-Prospectus with the Securities and Exchange Commission. All shareholders are advised to read this Proxy Statement-Prospectus in its entirety when it becomes available, because it will contain important information regarding the acquirer, the target, the transaction, the persons soliciting proxies in connection with the transaction and the interests of these persons in the transaction and related matters. Target intends to mail the Proxy Statement-Prospectus to its shareholders once such Proxy Statement-Prospectus is declared effective by the Commission. Shareholders may obtain a free copy of the Proxy Statement-Prospectus when available and other documents filed by the acquirer with the Commission at the Commission's web site at http://www.sec.gov. Free copies of the Proxy Statement-Prospectus, once available, may be obtained by directing a request via mail, phone or email to acquirer, Wells Fargo Advantage Funds, P.O. Box 8266, Boston MA, 02266-8266, 1-800-222-8222, www.wellsfargo.com/advantagefunds. Free copies of the Proxy Statement-Prospectus, once available, also may be obtained by directing a request via mail or fax to target, Evergreen Funds, 200 Berkeley Street, Boston, MA, 02116, 1-800-343-2898, www.evergreeninvestments.com. In addition to the Proxy Statement-Prospectus, the target and the acquirer file annual and semi-annual reports and other information with the Commission. You may read and copy any reports, statements, or other information filed by the target or the acquirer at the Commission's public reference rooms at 100 F Street, N.E., Washington, D.C., 20549-0213. Please call the Commission at 1-800-SEC-0330 for further information on the public reference room. Filings made with the Commission by either the target or the acquirer are also available to the public from commercial document-retrieval services and at the Web site maintained by the Commission at http://www.sec.gov.

Participants in the Solicitation
The acquirer, the target and their respective directors, executive officers, and certain members of their management and other employees may be soliciting proxies from shareholders in favor of the transaction and other related matters. Information concerning persons who may be considered participants in the solicitation of the target's shareholders under the rules of the Commission will be set forth in Proxy-Statement-Prospectus to be filed by the acquirer with the Commission in February 2010.

This merger guide will provide you with details about how all of our funds and separately managed accounts will be impacted by the changes approved by the Wells Fargo Advantage Funds and Evergreen Boards of Trustees. Read More

 

 

 

 

 

The Merger Conversion Tool is designed to provide you with easy access to more detailed information regarding the proposed product line of the combined Wells Fargo Advantage Funds and Evergreen Funds. Get Started

 

 

 

 

 

Following a careful review of the mutual fund lineups of Evergreen Funds and Wells Fargo Advantage Funds, the Boards of Trustees of the Wells Fargo Advantage Funds and the Evergreen Funds have approved a series of proposed product changes with the goal of streamlining and strengthening product offerings for clients. Read More