Evergreen Investment Management Company
plans to propose to the board of trustees that Wells Capital Management Inc.
replace Tattersall Advisory Group
as sub-adviser to four bond funds, according to an SEC filing on Monday. The funds include Evergreen Core Plus Bond
, Evergreen Core Bond
, Evergreen VA Core Bond
and Evergreen Short Intermediate Bond
In an announcement
posted on the Evergreen Web site on Tuesday, company officials said the decision to propose the portfolio management changes followed "recent performance challenges" and the "broadened fixed income investment capabilities resulting from Evergreen Investments' recent affiliation with Wells Fargo's asset management group.
Richmond, Virginia-based Tattersall is Evergreen's domestic fixed
income platform. Evergreen's parent, Wachovia Corp., was purchased
by Wells Fargo in a deal that closed in January.
The portfolio management change would occur through the execution
of a new sub-advisory agreement and/or through the reorganization of
each Evergreen fund into a similarly managed Wells Fargo Advantage Fund.
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