SUPPLEMENT TO THE PROSPECTUS OF
EVERGREEN SELECT SECULAR GROWTH FUND
Effective September 9, 1999, the sections in the prospectus entitled
"Performance" and "Expenses" are revised to reflect the following changes:
PERFORMANCE
The following charts show how the Fund has performed in the past. Past
performance is not an indication of future results.
The chart below shows the percentage gain or loss for the Institutional shares
of the Fund since the Institutional shares' inception on 12/31/94. It should
give you a general idea of how the Fund's return has varied from year-to-year.
This graph includes the effects of Fund expenses.
Year-by-Year Total Return for Institutional Shares (%)*
[YEAR BY YEAR BAR CHART APPEARS HERE]
1989
1990
1991
1992
1993
1994
1995 36.52
1996 24.99
1997 29.42
1998 41.47
Best Quarter: 4th Quarter 1998 +26.77%*
Worst Quarter: 3rd Quarter 1998 -9.23%*
Year to date total return through 6/30/1999 is +10.80%.
The next table lists the Fund's average annual total return by class over the
past year and since inception (through 12/31/1998). This table is intended to
provide you with some indication of the risks of investing in the Fund. At the
bottom of the table you can compare this performance with the Russell 1000
Growth Index which measures the performance of those Russell 1000 companies
with higher price-to-book ratios and higher forecasted growth values; it is not
an actual investment.
Average Annual Total Return
(for the period ended 12/31/1998)*
Inception Performance
Date Since
Of Class 1 year 5 year 10 year 12/31/1994
Institutional 2/26/1999 41.47% N/A N/A 32.99%
Institutional Service 2/26/1999 41.11% N/A N/A 32.66%
Russell 1000 Growth Index 38.71% N/A N/A 32.33%
* Historical performance shown for the Institutional and Institutional Service
shares prior to 7/12/1999 is based on the Fund's predecessor common trust
fund's (CTF) performance, adjusted for estimated mutual fund expenses. The
CTF was not registered under the Investment Company Act of 1940 and was not
subject to certain investment restrictions. If the CTF had been registered,
its performance might have been adversely affected. Performance for the CTF
has been adjusted to include the effect of estimated mutual fund gross
expenses for each class at the time the Fund was converted to a mutual fund.
If fee waivers and expense reimbursements had been calculated into the mutual
fund expenses for each class, the total returns would be as follows:
Institutional--1 year = 41.62% and since 12/31/1994 = 33.14%; Institutional
Service--1 year = 41.27% and since 12/31/1994 = 32.80%.
EXPENSES
This section describes the fees and expenses you would pay if you bought and
held shares of the Fund.
You pay no shareholder transaction fees.
Annual Fund Operating Expenses (expenses that are deducted from Fund assets)+
Total Fund
Management 12b-1 Other Operating
Fees Fees Expenses Expenses++
Institutional 0.70% 0.00% 0.10% 0.80%
Institutional Service 0.70% 0.25% 0.10% 1.05%
+ Estimated for the fiscal period ending 6/30/2000.
++ From time to time, the Fund's investment advisor may, at its discretion,
reduce or waive its fees or reimburse the Fund for certain of its expenses
in order to reduce expense ratios. The Fund's investment advisor may cease
these waivers or reimbursements at any time. The Annual Fund Operating
Expenses do not reflect fee waivers and expense reimbursements. Including
current fee waivers and expense reimbursements Total Fund Operating Expenses
would be 0.70% for the Institutional shares and 0.95% for the Institutional
Service shares.
The table below shows the total expenses you would pay on a $10,000 investment
over one-, three-, five- and ten-year periods. The example is intended to help
you compare the cost of investing in this Fund versus other mutual funds and is
for illustration only. The example assumes a 5% average annual return and that
you reinvest all of your dividends. Your actual costs may be higher or lower.
Example of Fund Expenses
Institutional Institutional Service
After 1 year $ 82 $ 107
After 3 years $255 $ 334
After 5 years $444 $ 579
After 10 years $990 $1,283
September 9, 1999 550706 9/99
<PAGE>
SUPPLEMENT TO STATEMENT OF
ADDITIONAL INFORMATION OF
EVERGREEN SELECT SECULAR GROWTH FUND
Effective September 9, 1999, the section in part one the entitled
"Performance" in the Statement of Additional Information is supplemented to
reflect the following changes in both the table and the footnote:
Total Return
Below are the annual total returns for each class of shares of the Fund
as of June 30, 1999. For more information, see "Total Return" under Performance
Calculations in Part 2 of this SAI.
<TABLE>
<CAPTION>
------------------------ ---------------- --------------- ---------------------- ---------------------
Ten Years or Class
One Year Five Years Since Inception Inception Date*
------------------------ ---------------- --------------- ---------------------- ---------------------
<S> <C> <C> <C> <C>
------------------------ ---------------- --------------- ---------------------- ---------------------
Institutional 27.50% N/A 31.85% 2/26/99
------------------------ ---------------- --------------- ---------------------- ---------------------
------------------------ ---------------- --------------- ---------------------- ---------------------
Institutional Service 27.18% N/A 31.52% 2/26/99
------------------------ ---------------- --------------- ---------------------- ---------------------
</TABLE>
* Historical performance shown for the Istitutional and Institutional Service
shares prior to 7/12/1999 is based on the Fund's predecessor common trust fund's
(CTF) performance, adjusted for estimated mutual fund expenses. The CTF was not
registered under the Investment Company Act of 1940 and was not subject to
certain investment restrictions. If the CTF had been registered, its performance
might have been adversely affected. Performance for the CTF has been adjusted to
include the effect of estimated mutual fund gross expenses for each class at the
time the Fund was converted to a mutual fund. If fee waivers and expense
reimbursements had been calculated into the mutual fund expenses for each class
the total returns would be as follows: Institutional - 1 year = 27.64% and
since 12/31/1994 = 31.99%; Institutional Service - 1 year = 27.32% and
since 12/31/1994 = 31.66%.
XXXXXX 9/99
September 9, 1999
