Administration April 1, 2005

Evergreen Picks Up Undiscovered Funds

January 28, 2003 (PLANSPONSOR.com) - Evergreen Investments has agreed to acquire three mutual funds from Undiscovered Managers LLC.
Reported by

According to a news media announcement, Evergreen will acquire:

  • Undiscovered Managers Small Cap Value Fund
  • Undiscovered Managers Mid Cap Value Fund
  • Undiscovered Managers Merger & Acquisition Fund.

Terms of the cash transaction were not disclosed. Evergreen Investments acquired the sub-advisor to the three funds, JL Kaplan Associates, LLC, in November 2002 (See   Wachovia Unit Picks Up Boston Money Manager ).

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Founded in 1976, JL Kaplan Associates, LLC has approximately $3 billion in assets under management and invests in small and middle capitalization companies that management views as high quality, are reasonably easy to understand, have favorable long-term prospects, are managed by competent individuals with integrity, and are available at a price that represents a discount from its intrinsic value.

Evergreen Investments is the asset management division of Wachovia Corp.

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