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Portfolio > Asset Managers

Evergreen to Adopt GMO Fund

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Sept. 23, 2002 — Evergreen Investments said it plans to acquire the GMO Global Balanced Allocation Fund (GMGAX), a mutual fund managed by Grantham, Mayo, Van Otterloo & Co. LLC (GMO).

The fund will be renamed Evergreen Asset Allocation Fund. GMO, however, will remain as manager. “Evergreen will become the fund’s investment adviser, and GMO will become its sub-adviser,” said Chad Peterson, a spokesman for Evergreen.

The fund’s investment style is not expected to change, Evergreen noted.

The fund uses both top-down and bottom-up valuation methodologies to value asset classes, countries and individual securities in order to allocate assets to undervalued countries, currencies and securities around the world.

According to GMO’s website, the fund returned 1.93% for the 12-month period ended August 31. As of June 30, the fund had $150 million in net assets.

The transaction is expected to close early in the fourth quarter of 2002.


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