SCHEDULE 14A INFORMATION
PROXY STATEMENT PURSUANT TO SECTION 14(A)
OF THE SECURITIES EXCHANGE ACT OF 1934
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Evergreen Select Equity Trust
(Name of Registrant as Specified in Its Charter)
Evergreen Select Equity Trust
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[FIRST UNION LETTERHEAD]
Dear (Plan Sponsor):
I am pleased to provide you with some exciting news regarding the Evergreen
Select Secular Growth Fund, one of the funds available in your company
retirement plan.
First Union Corporation's Capital Management Group and Stephen Dalton, a money
manager with First Union and senior portfolio manager for the Evergreen Select
Secular Growth Fund, have announced the formation of a new institutional
investment management firm. The new firm will be a minority-owned business
venture with strong financial stability and an excellent track record of
investment management expertise.
The new venture, ForeFront Capital Advisors LLC, will be majority owned by Mr.
Dalton and based in Philadelphia. First Union will invest $1 million in the
venture and receive an equity stake in the new firm.
ForeFront Capital's mission will be to provide large capitalization equity
management expertise to institutional investors. Subject to required approvals
from account holders and mutual fund shareholders, ForeFront will become
sub-advisor the large-cap Evergreen Select Secular Growth Fund, and advisor to
several private portfolios using his growth-oriented discipline. ForeFront
Capital's assets under management are expected to be approximately $1.4 billion.
If approved by shareholders at the meeting to be held on October 31, 2000, Mr.
Dalton will continue to manage Evergreen Select Secular Growth Fund through
ForeFront Capital. There will be no change to the fund's name, investment
strategy, cusip or newspaper listing.
The Fund has filed a preliminary proxy statement with the SEC. Shareholders are
urged to read the proxy statement once it becomes available as it contains
important information. You should expect to receive a copy of the proxy
statement in the mail the week of October 9, 2000. The proxy statement and other
relevant documents are also available at no charge from the SEC's web site at
www.sec.gov.
Mr. Dalton has more than 17 years of investment management experience and
research expertise covering the health care, technology, retail, media and
entertainment industries. Prior to joining First Union, he was a managing
director, head of equity services and the lead senior portfolio manager at
CoreStates Investment Advisors, which was acquired by First Union in 1998.
Mr. Dalton's current investment management team will join him at ForeFront
Capital. They include investment professionals Linora Lawrence and Barbara
Lindter, who have 28 years of combined experience. Mr. Dalton also plans to hire
additional research analytical expertise as well as trading, compliance and
operational support.
Please feel free to contact me should you have any questions regarding this
news. I look forward to continuing to assist you and your plan participants.
Sincerely,
Consultant
