Fitch Rates Evergreen Ultra Short Opportunities Fund 'AA/V1'.CHICAGO -- Fitch Ratings assigns a bond fund credit and volatility rating of 'AA/V1' to the Evergreen Ultra Short Opportunities Fund (the fund). Bond funds rated in the 'AA' category meet very high standards with respect to the credit quality of the fund's underlying assets, as well as the fund's management and operations. The weighted average default probability of the fund's portfolio is consistent with the default probability of an 'AA' rated fixed-income obligation. Bond funds rated in the 'V1' category are considered to have low market risk. Total returns exhibit relative stability, performing consistently across a broad range of interest rate scenarios. Theses funds offer the lowest risk exposure to interest rates and changing market conditions. Bond fund volatility ratings are assigned on a scale of 'V1' (least volatile) through 'V10' (most volatile). Volatility ratings reflect the relative sensitivity of the fund's total return and market price to changes in interest rates, spread movements, and other market conditions. The fund seeks to provide current income consistent with preservation of capital Preservation of Capital An investment strategy whose primary goal is to prevent the loss of an investment's total value. Notes: For investors using the capital preservation strategy to achieve their goal, they must ensure their portfolio is producing a return that is at and low principal fluctuation. The fund intends to pursue its investment goal by investing primarily in investment grade structured finance securities while maintaining an average portfolio duration of one year or less. Eligible assets include residential and commercial mortgage backed securities (RMBS RMBS Residential Mortgage-Backed Securities RMBS Rambus, Inc. (NASDAQ stock symbol) RMBS Russian Mortgage-Backed Securities & CMBS CMBS See: Commercial Mortgage Backed Securities ), collateralized mortgage obligations (CMOs), collateralized debt obligations (CDOs), asset backed securities (ABS), agency debt, municipal bonds, and U.S. Treasuries. Evergreen Investment Management Company, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control (EIMC EIMC Electronic Imaging and Media Communications (University of Bradford department) ) is the investment advisor to the fund. EIMC has been managing mutual funds and private accounts since 1932 and managed over $273 billion in assets as of Dec. 31, 2006. EIMC is a subsidiary of Wachovia Corporation, the fourth largest bank holding company in the United States, with over $707 billion in consolidated assets as of Dec. 31, 2006. Tattersall tat·ter·sall also Tat·ter·sall n. 1. A pattern of dark lines forming squares on a light background. 2. Cloth woven or printed with this pattern. adj. Advisory Group, Inc. (TAG) is the sub-advisor to the Fund. TAG has been managing fixed income accounts since 1976 and managed over $51.4 billion in assets as of Dec. 31, 2006. Fitch's rating definitions and the terms of use Terms of Use are rules set up by the owner of an intellectual property or service to govern how they may be legally used. In many cases, terms of service are used as a contractual agreement between a company and users of a service they provide. of such ratings are available on the agency's public site, www.fitchratings.com. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures Policies and Procedures are a set of documents that describe an organization's policies for operation and the procedures necessary to fulfill the policies. They are often initiated because of some external requirement, such as environmental compliance or other governmental are also available from the 'Code of Conduct' section of this site. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion