Evergreen Adds Fund of Funds Fund

September 20, 2002 (PLANSPONSOR.com) - Evergreen Investments is planning to expand its mutual fund lineup with its first fund-of-funds offering.

Evergreen says, pending regulatory and shareholder approval, it will add the GMO Global Balanced Allocation Fund to its fund lineup – and rename it the Evergreen Asset Allocation Fund.  

In a news release, Evergreen said Boston investment manager Grantham Mayo Van Otterloo & Co. LLC will remain the fund’s adviser.

The fund invests in other GMO mutual funds representing various equity and fixed-income asset classes, with the proportion of ownership in the underlying funds opportunistically rebalanced based on valuation assessments of the global marketplace.

Originally targeted at institutional investors, Evergreen has plans to offer it to retail investors as well, according to a Dow Jones report.