1933 Act No. 333-37453
1940 Act No. 811-08413
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form N-1A
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 [ ]
Pre-Effective Amendment No. [ ]
Post-Effective Amendment No. 20 [X]
and/or
REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940 [ ]
Amendment No. 21 [X]
EVERGREEN EQUITY TRUST
(As successor to certain series of Mentor Funds and America's Utility Fund,Inc.)
(Exact Name of Registrant as Specified in Charter)
200 Berkeley Street, Boston, Massachusetts 02116-5034
(Address of Principal Executive Offices)
(617) 210-3200
(Registrant's Telephone Number)
The Corporation Trust Company
1209 Orange Street
Wilmington, Delaware 19801
(Name and Address of Agent for Service)
It is proposed that this filing will become effective:
[ ] immediately upon filing pursuant to paragraph (b)
[ ] on (date) pursuant to paragraph (b)
[ ] 60 days after filing pursuant to paragraph (a)(1)
[ ] on (date) pursuant to paragraph (a)(1)
[ ] 75 days after filing pursuant to paragraph (a)(2)
[ ] on (date) pursuant to paragraph (a)(2) of Rule 485
If appropriate, check the following box:
[ ] this post-effective amendment designates a new effective date for a
previously filed post-effective amendment
[ ] 60 days after filing pursuant to paragraph (a)(i)
[ ] on (date) pursuant to paragraph (a)(i)
Pursuant to Rule 414 under the Securities Act of 1933 (the "Securities
Act"), by this amendment to Registration Statement No. 33-45315/811-6550 of
Mentor Funds, a Massachusetts business trust, the Registrant hereby adopts the
Registration Statement of such trust with respect to the Mentor Capital Growth
Portfolio series thereof under the Securities Act and the notification of
registration and Registration Statement of such trust under the Investment
Company Act of 1940 (the "1940 Act").
<PAGE>
EVERGREEN EQUITY TRUST
CONTENTS OF
POST-EFFECTIVE AMENDMENT NO. 20
to
REGISTRATION STATEMENT
This Post-Effective Amendment No. 20 to Registrant's Registration Statement
No. 333-37453/811-08413 consists of the following pages, items of information
and documents:
The Facing Sheet
The Contents Page
PART A
------
Prospectus for Evergreen Balanced Fund, Evergreen Foundation Fund and
Evergreen Tax Strategic Foundation Fund is contained in Post-Effective
Amendment No. 16 to Registration Statement No. 333-37453/811-08413 filed on
July 29, 1999 and is incorporated by reference herein.
Prospectuses for Evergreen Fund, Evergreen Micro Cap Fund,
Evergreen Aggressive Growth Fund, Evergreen Omega Fund,
Evergreen Small Company Growth Fund, Evergreen Strategic Growth Fund,
Evergreen Stock Selector Fund and Evergreen Tax Strategic Equity Fund
contained in Post-Effective Amendment No. 12 to Registration Statement
No. 333-37453/811-08413 filed on February 1, 1999 are incorporated
by reference herein.
Prospectuses for Evergreen Masters Fund contained in Post-Effective
Amendment No. 11 to Registration Statement No.333-37453/811-08413
filed on December 29, 1998 are incorporated by
reference herein.
Prospectuses for Evergreen Fund for Total Return, Evergreen Growth
and Income Fund, Evergreen Income and Growth Fund, Evergreen Small Cap
Equity Income Fund, Evergreen Value Fund, Evergreen Utility Fund and
Evergreen Blue Chip Fund contained in Post-Effective
Amendment No. 10 to Registration Statement No. 333-37453/811-08413
filed on November 25, 1998 are incorporated by reference herein.
PART B
------
Statement of Additional Information for Evergreen Balanced Fund, Evergreen
Foundation Fund and Evergreen Tax Strategic Foundation Fund is contained in
Post-Effective Amendment No. 16 to Registration Statement No.
333-37453/811-08413 filed on July 29, 1999 and is incorporated by reference
herein.
Statement of Additional Information for Evergreen Fund, Evergreen Micro Cap
Fund, Evergreen Aggressive Growth Fund, Evergreen Omega Fund, Evergreen Small
Company Growth Fund, Evergreen Strategic Growth Fund, Evergreen Stock Selector
Fund, Evergreen Tax Strategic Equity Fund and Evergreen Masters Fund
contained in Post-Effective Amendment No. 12 to Registration Statement
No. 333-37453/811-08413 filed on February 1, 1999 is incorporated
by reference herein.
Statement of Additional Information for Evergreen Fund for Total Return,
Evergreen Growth and Income Fund, Evergreen Income and Growth Fund,
Evergreen Small Cap Equity Income Fund, Evergreen Value Fund,
Evergreen Utility Fund and Evergreen Blue Chip Fund contained in
Post-Effective Amendment No. 10 to Registration Statement
No. 333-37453/811-08413 filed on November 25, 1998
is incorporated by reference herein.
PART C
------
Exhibits
Indemnification
Business and Other Connections of Investment Adviser
Principal Underwriter
Location of Accounts and Records
Undertakings
Signatures
<PAGE>
EVERGREEN EQUITY TRUST
PART A
SUPPLEMENT TO THE PROSPECTUS
<PAGE>
SUPPLEMENT TO THE PROSPECTUSES OF
MENTOR FUNDS
MENTOR INSTITUTIONAL TRUST
AMERICA'S UTILITY FUND, INC.
(Each a "Fund", together the "Funds")
I. Effective October 15, 1999, each of the Funds' prospectuses is supplemented
to reflect the following changes:
A. Conversion to series of an Evergreen Delaware business trust.
Each of the Funds listed below has been reorganized as a separate series of a
Delaware business trust. The name of each Mentor Fund and the Evergreen Trust
into which it is being reorganized is set forth below.
<TABLE>
<CAPTION>
Name of Fund Name of Trust
<S> <C>
Mentor Balanced Portfolio Evergreen Equity Trust
Mentor Growth Portfolio Evergreen Equity Trust
Mentor Short-Duration Income Portfolio Evergreen Fixed Income Trust
Mentor Capital Growth Portfolio Evergreen Equity Trust
Mentor Municipal Income Portfolio Evergreen Municipal Trust
Mentor Quality Income Portfolio Evergreen Fixed Income Trust
Mentor Income and Growth Portfolio Evergreen Equity Trust
Mentor Perpetual Global Portfolio Evergreen International Trust
Mentor High Income Portfolio Evergreen Fixed Income Trust
Mentor Perpetual International Portfolio Evergreen International Trust
Mentor Fixed-Income Portfolio Evergreen Select Fixed Income Trust
SNAP Fund Evergreen Select Money Market Trust
America's Utility Fund, Inc. Evergreen Equity Trust
In connection with the conversion, each Fund (except SNAP Fund) has changed its
name as indicated below.
Current Fund Name New Fund Name
Mentor Balanced Portfolio Evergreen Capital Balanced Fund
Mentor Growth Portfolio Evergreen Growth Fund
Mentor Short-Duration Income Portfolio Evergreen Short-Duration Income Fund
Mentor Capital Growth Portfolio Evergreen Capital Growth Fund
Mentor Municipal Income Portfolio Evergreen Municipal Income Fund
Mentor Quality Income Portfolio Evergreen Quality Income Fund
Mentor Income and Growth Portfolio Evergreen Capital Income and Growth Fund
Mentor Perpetual Global Portfolio Evergreen Perpetual Global Fund
Mentor High Income Portfolio Evergreen High Income Fund
Mentor Perpetual International Portfolio Evergreen Perpetual International Fund
Mentor Fixed-Income Portfolio Evergreen Select Fixed Income Fund II
America's Utility Fund, Inc. Evergreen America's Utility Fund
B. Change of Investment Objective from Fundamental to Nonfundamental.
In connection with the above conversion, Shareholders approved the
reclassification of the investment objective of each of the following Funds from
"fundamental" (i.e., changeable by shareholder vote only) to "nonfundamental"
(i.e., changeable by vote of the Board):
Mentor Balanced Portfolio Mentor Quality Income Portfolio
Mentor Growth Portfolio Mentor Income and Growth Portfolio
Mentor Capital Growth Portfolio Mentor Perpetual Global Portfolio
Mentor Municipal Income Portfolio Mentor High Income Portfolio
</TABLE>
C. Changes in Fundamental Investment Restrictions
Also in connection with the above conversion, Shareholders approved the adoption
of standardized fundamental investment restrictions by amending or reclassifying
the current fundamental investment restrictions of each Mentor Fund listed in
Section A above. These newly adopted investment restrictions are set forth in
the Supplement dated October 15, 1999 to each Fund's Statement of Additional
Information.
D. Mergers with existing Evergreen series.
Shareholders of certain of the Mentor Funds ("Acquired Fund") also approved the
reorganization of their Fund into an existing Evergreen Fund ("Acquiring Fund")
to be effective March 10, 2000. In the reorganization, all of the assets of an
Acquired Fund will be transferred to an Acquiring Fund (as noted below) and
shareholders of the Acquired Fund will receive shares of the appropriate
Acquiring Fund in exchange for their shares. Completion of the mergers is
subject to the approval of the Board of Trustees of the Evergreen Funds at their
meeting to be held December l6, 1999.
<TABLE>
<CAPTION>
<PAGE>
Acquired Fund Acquiring Fund
<S> <C>
Mentor Income and Growth Portfolio Evergreen Capital Balanced Fund
(Formerly Mentor Balanced Portfolio)
Mentor Short-Duration Income Portfolio Evergreen Short Intermediate Bond Fund
Mentor Municipal Income Portfolio Evergreen Municipal Bond Fund
America's Utility Fund, Inc. Evergreen Utility Fund
</TABLE>
II. Addition of New Classes of Shares
A. Class B Shares
In connection with the conversion to a series of an Evergreen Delaware business
trust, as described above, each of the following Mentor Funds' shares currently
designated "Class B" will be redesignated "Class C". Effective October 15, 1999,
each of the following Funds will add a new class of shares designated as Class
B.
Evergreen Capital Balanced Fund (formerly Mentor Balanced Portfolio)
Evergreen Growth Fund (formerly Mentor Growth Portfolio)
Evergreen Capital Growth Fund (formerly Mentor Capital Growth Portfolio)
Evergreen Quality Income Fund (formerly Mentor Quality Income Portfolio)
Evergreen Perpetual Global Fund (formerly Mentor Perpetual Global Portfolio)
Evergreen High Income Fund (formerly Mentor High Income Portfolio)
Evergreen Perpetual International Fund (formerly Mentor Perpetual International
Portfolio)
(1) Expense Summary (for each of the above Funds except Evergreen
Perpetual International Fund)
Expenses are one of several factors to consider when investing in a Fund. The
following tables are provided to help you understand the expenses of investing
in each of the Funds and your share of the operating expenses of each of the
Funds. Expenses shown are based on estimated expenses for the upcoming fiscal
year end.
<TABLE>
<CAPTION>
Shareholder Transaction Expenses Class B Shares
<S> <C>
Maximum Sales Charge Imposed on Purchases (as a percentage of offering price) None
Maximum Sales Charge Imposed on Reinvested Dividends None
Contingent Deferred Sales Charge (as a percentage of the lower of the 5%(1)
original purchase price or redemption proceeds of shares redeemed)
(1) The deferred sales charge on Class B shares declines from 5% to 1% on amounts redeemed
within six years after the month of purchase. See "How to Buy Shares" for more
information.
</TABLE>
Annual Fund Operating Expenses
(as a percentage of average net assets)
<TABLE>
Capital Capital Quality Perpetual High
Class B Shares Balanced Growth Growth Income Global Income
<S> <C> <C> <C> <C> <C> <C>
---------------------------------------------------------------------------
Investment Advisory Fee (2) 0.75% 0.70% 0.80% 0.48% 1.05% 0.35%
12b-1 Fee 1.00% 1.00% 1.00% 1.00% 1.00% 1.00%
Other Expenses 0.37% 0.31% 0.29% 0.32% 0.45% 0.35%
------ ----- ----- ----- ----- -----
Total Fund Operating
Expenses (2) 2.12% 2.01% 2.09% 1.80% 2.50% 1.70%
(2) Mentor Investment Advisors, LLC has agreed to limit its Advisory
Fees from Quality Income and High Income. In the absence of these
expense limitations, Advisory Fees for Quality Income and High
Income would be 0.60% and 0.70%, respectively, and Total Operating
Expenses would be 1.92% and 2.05%, respectively.
Examples
You would pay the following expenses on a $1,000 investment, assuming 5% annual
return and no redemption at the end of each period:
Capital Capital Quality Perpetual High
Class B Shares Balanced Growth Growth Income Global Income
---------------------------------------------------------------------------
After 1 Year $22 $20 $21 $18 $25 $17
After 3 Years $66 $63 $65 $57 $78 $54
After 5 Years $114 $108 $112 $97 $133 $92
After 10 Years $217 $205 $214 $183 $257 $172
You would pay the following expenses on a $1,000 investment, assuming 5% annual
return and redemption at the end of each period:
Capital Capital Quality Perpetual High
Class B Shares Balanced Growth Growth Income Global Income
---------------------------------------------------------------------------
After 1 Year $72 $70 $71 $68 $75 $67
After 3 Years $96 $93 $95 $87 $108 $84
After 5 Years $134 $128 $132 $117 $153 $112
After 10 Years $217 $205 $214 $183 $257 $172
</TABLE>
The Examples should not be considered a representation of future performance;
actual expenses may vary.
How to Buy Shares
Class B Shares. You may purchase Class B shares at net asset value without an
initial sales charge. However, you may pay a CDSC if you redeem shares within
six years after the month of purchase. The amount of the CDSC (expressed as a
percentage of the lesser of the current net asset value or original cost) will
vary according to the number of years from the month of purchase of Class B
shares as set forth below.
<TABLE>
CDSC
Redemption Timing Imposed
- ----------------- -------
<S> <C>
Month of purchase and the first twelve-month period following the month of purchase 5.00%
Second twelve-month period following the month of purchase 4.00%
Third twelve-month period following the month of purchase 3.00%
Fourth twelve-month period following the month of purchase 3.00%
Fifth Twelve-month period following the month of purchase 2.00%
Sixth Twelve-month period following the month of purchase 1.00%
No CDSC is imposed on amounts redeemed thereafter.
</TABLE>
At the end of the period ending seven years after the end of the calendar month
in which the shareholder's purchase order was accepted, Class B shares will
automatically convert to Class A shares and will no longer be subject to the
higher distribution services fee imposed on Class B shares. Such conversion will
be on the basis of the relative net asset values of the two classes, without the
imposition of any sales load, fee or other charge. The purpose of the conversion
feature is to reduce the distribution services fee paid by holders of Class B
shares that have been outstanding long enough for the Distributor of Fund shares
to have been compensated for the expenses associated with the sale of such
shares.
Distribution Plans (Class B and Class C Shares)
The information contained in this section applies regarding payments made in
accordance with a Distribution Plan adopted pursuant to Rule 12b-1 under the
Investment Company Act of 1940.
(2) Expense Summary (for Evergreen Perpetual International Fund)
Expenses are one of several factors to consider when investing in the Fund.
Expenses shown are based on expenses incurred in respect of Class B shares of
the Fund for the 1999 fiscal year end.
Fees and Expenses of the Fund
This table describes the fees and expenses that you may pay if you buy
and hold shares of the Fund.
<TABLE>
<S> <C>
Shareholder Fees (fees paid directly from your investment): Class B
Maximum Sales Load Imposed on Purchases (as a percentage of offering price).......... None
Maximum Sales Load Imposed on Reinvested Dividends................................... None
Maximum Deferred Sales Load (as a percentage of the lower of the original purchase
Price or redemption proceeds).......................................... 5.00% (3)
Annual Fund Operating Expenses
(as a percentage of average net assets) Class B
Management Fees..................................................................... 1.00%
12b-1 Fees.......................................................................... 1.00%
Other Expenses...................................................................... 0.43%
Total Annual Fund Operating Expenses................................................ 2.43%
(3) The deferred sales charge on Class B shares declines from 5% to 1% on amounts redeemed
within six years after the month of purchase. See "How to Buy Shares" for more information.
</TABLE>
Examples
These Examples are intended to help you compare the cost of investing in the
Fund with the cost of investment in other mutual funds. The Examples assume that
you invest $10,000 in the class of shares of the Fund indicated for the time
periods indicated and then either (a) redeem all of your shares at the end of
those periods or (b) do not redeem your shares. The Examples also assume that
your investment has a 5% return each year and that the Fund operating expenses
remain the same. Although your actual costs may be higher or lower, based on
these assumptions your costs will be:
<PAGE>
(a) Assuming Redemption (b) Assuming No Redemption
Class B Class B
1 year............. $ 746 1 year............... $ 246
3 years ........... $1,058 3 years.............. $ 758
5 years............ $1,496 5 years.............. $ 1,296
10 years .......... $ 2,494 10 years.............. $ 2,494
How to Buy Shares
Class B Shares. If you select Class B shares, you do not pay a front-end sales
charge, so the entire amount of your purchase is invested in the Fund. However,
your shares are subject to an additional expense, known as the 12b-1 fee. In
addition, you may pay a deferred sales charge if you redeem your shares within
six years after the month of purchase. The amount of the deferred sales charge
depends on the length of time the shares were held, as shown below:
Contingent Deferred
Time Held Sales Charge
--------- ------------
Month of Purchase + First 12 Month Period 5.00%
Month of Purchase + Second 12 Month Period 4.00%
Month of Purchase + Third 12 Month Period 3.00%
Month of Purchase + Fourth 12 Month Period 3.00%
Month of Purchase + Fifth 12 Month Period 2.00%
Month of Purchase + Sixth 12 Month Period 1.00%
Thereafter 0%
After 7 years Converts to Class A
Dealer Allowance 4.00%
The deferred sales charge percentage is applied to the value of the shares when
purchased or when redeemed, whichever is less. No deferred sales charge is paid
on shares purchased through dividend or capital gains reinvestments or on any
gains in the value of your shares.
Distribution Plans (Class B and Class C Shares)
The information contained in this section applies regarding payments made in
accordance with a Distribution Plan adopted pursuant to Rule 12b-1 under the
Investment Company Act of 1940.
B. Institutional Service Shares
In connection with the conversion to a series of an Evergreen Delaware business
trust, as described above, the Class Y shares of Evergreen Select Fixed Income
Fund II will be redesignated "Institutional Shares". Effective October 15, 1999,
the Fund will add a new class of shares designated as "Institutional Service
Shares".
Expense Summary
Expenses are one of several factors to consider when investing in the Fund.
Expenses shown are based on expenses incurred in respect of Institutional
Service shares of the Fund for the 1999 fiscal year end.
Fees and Expenses of the Fund. This table describes the fees and expenses that
you may pay if you buy and hold shares of the Fund.
Shareholder Fees (fees paid directly from your investment): None
Annual Fund Operating Expenses Institutional
(as a percentage of average net assets) Service Shares
Management Fees.................................................. 0.00%
12b-1 Fee........................................................ 0.25%
Other Expenses................................................... 0.10%
Total Annual Fund Operating Expenses............................. 0.35%
Examples
These Examples are intended to help you compare the cost of investing in the
Fund with the cost of investment in other mutual funds. The Examples assume that
you invest $10,000 in the class of shares of the Fund indicated for the time
periods indicated and then redeem all of your shares at the end of those
periods. The Examples also assume that your investment has a 5% return each year
and that the Fund operating expenses remain the same. Although your actual costs
may be higher or lower, based on these assumptions your costs will be:
1 year........................................... $ 36
3 years.......................................... $ 113
5 years.......................................... $ 197
10 years......................................... $ 443
How to Buy Shares
Shares of Select Fixed Income Fund II are sold at net asset value next
determined after a purchase order is received by the Fund. Each class of shares
is sold without a front-end sales charge or contingent deferred sales charge.
Institutional Service shares pay an ongoing service fee. In most cases, in order
to receive that day's public offering price, your order must be received by the
Fund before the close of regular trading on the New York Stock Exchange.
Distribution Plans (Institutional Service Shares)
The Fund has adopted a Distribution Plan under Rule 12b-1 with respect to its
Institutional Service shares (the "plan") providing for payments by the Fund to
its Distributor from the assets attributable to the Fund's Institutional Service
shares at the annual rate set out under "Expense Summary - Annual Fund Operating
Expenses" above. Because these fees are paid out of the Fund's assets on an
ongoing basis, over time these fees will increase the cost of your investment
and may cost you more than paying other types of sales charges. The Trustees may
reduce the amount of payments or suspend the Plan for such periods as they may
determine.
October 15, 1999
<PAGE>
EVERGREEN EQUITY TRUST
PART B
SUPPLEMENT TO THE STATEMENT OF ADDITIONAL INFORMATION
<PAGE>
SUPPLEMENT TO THE
STATEMENTS OF ADDITIONAL INFORMATION OF
MENTOR FUNDS
MENTOR INSTITUTIONAL TRUST
AMERICA'S UTILITY FUND, INC.
(each a "Fund" and, collectively, the "Funds")
Effective October 15, 1999, the Statements of Additional Information of
each of the Funds are hereby supplemented as follows:
I. Standardized Fundamental Investment Restrictions
Each of the above Funds (except SNAP Fund) has adopted the following
standardized fundamental investment restrictions. These restrictions may be
changed only by a vote of Fund shareholders.
1. Diversification of Investments
The Fund may not make any investment inconsistent with the Fund's
classification as a diversified investment company under the Investment Company
Act of 1940.
2. Concentration of a Fund's Assets in a Particular Industry. (All
Funds other than those listed below.)
The Fund may not concentrate its investments in the securities of
issuers primarily engaged in any particular industry (other than securities
issued or guaranteed by the U.S. government or its agencies or
instrumentalities).
For America's Utility Fund, Inc.
The Fund will concentrate its investments in the utilities industry.
3. Issuance of Senior Securities
Except as permitted under the Investment Company Act of 1940, the Fund
may not issue senior securities.
4. Borrowing
The Fund may not borrow money, except to the extent permitted by
applicable law.
5. Underwriting
The Fund may not underwrite securities of other issuers, except insofar
as the Fund may be deemed an underwriter in connection with the disposition of
its portfolio securities.
6. Investment in Real Estate
The Fund may not purchase or sell real estate, except that, to the
extent permitted by applicable law, the Fund may invest in (a) securities
directly or indirectly secured by real estate, or (b) securities issued by
companies that invest in real estate.
7. Commodities
The Fund may not purchase or sell commodities or contracts on
commodities except to the extent that the Fund may engage in financial futures
contracts and related options and currency contracts and related options and may
otherwise do so in accordance with applicable law and without registering as a
commodity pool operator under the Commodity Exchange Act.
8. Lending
The Fund may not make loans to other persons, except that the Fund may
lend its portfolio securities in accordance with applicable law. The acquisition
of investment instruments shall not be deemed to be the making of a loan.
<PAGE>
II. Reclassification of All Other Fundamental Investment Restrictions
All investment restrictions other than those described above as having
been standardized have been reclassified from fundamental to nonfundamental and,
as, such, may be changed by a Fund's Board of Trustees at any time without a
shareholder vote.
III. Management of the Trust
The Trust is supervised by a Board of Trustees that is responsible for
representing the interests of the shareholders. The Trustees meet periodically
throughout the year to oversee each Fund's activities, reviewing, among other
things, the Fund's performance and its contractual arrangements with various
service providers. Each Trustee is paid a fee for his or her services. See
"Expenses-Trustee Compensation" in Part 1 of this SAI.
The Trust has an Executive Committee which consists of the Chairman of
the Board, James Howell, and Messrs. Scofield and Salton, each of whom is not an
"interested person" of the Funds, as that term is defined in the 1940 Act. The
Executive Committee recommends Trustees to fill vacancies, prepares the agenda
for Board meetings and acts on routine matters between scheduled Board meetings.
Set forth below are the Trustees and officers of the Trust and their
principal occupations and affiliations over the last five years. Unless
otherwise indicated, the address for each Trustee and officer is 200 Berkeley
Street, Boston, Massachusetts 02116. Each Trustee is also a Trustee of each of
the other Trusts in the Evergreen Fund complex.
<TABLE>
<CAPTION>
Name Position with Trust Principal Occupations for Last Five Years
<S> <C> <C>
Laurence B. Ashkin Trustee Real estate developer and construction consultant; and
(DOB: 2/2/28) President of Centrum Equities and Centrum Properties, Inc.
Charles A. Austin III Trustee Investment Counselor to Appleton Partners, Inc.; former
(DOB: 10/23/34) Director, Executive Vice President and Treasurer, State
Street Research & Management Company (investment advice);
Director, The Andover Companies (Insurance); and Trustee,
Arthritis Foundation of New England
K. Dun Gifford Trustee Trustee, Treasurer and Chairman of the Finance Committee,
(DOB: 10/12/38) Cambridge College; Chairman Emeritus and Director, American
Institute of Food and Wine; Chairman and President, Oldways
Preservation and Exchange Trust (education); former Chairman
of the Board, Director, and Executive Vice President, The
London Harness Company; former Managing Partner, Roscommon
Capital Corp.; former Chief Executive Officer, Gifford Gifts
of Fine Foods; former Chairman, Gifford, Drescher & Associates
(environmental consulting)
James S. Howell Chairman of the Board Former Chairman of the Distribution Foundation for the
(DOB: 8/13/24) of Trustees Carolinas; and former Vice President of Lance Inc. (food
manufacturing).
Leroy Keith, Jr. Trustee Chairman of the Board and Chief Executive Officer, Carson
(DOB: 2/14/39) Products Company; Director of Phoenix Total Return Fund and
Equifax, Inc.; Trustee of Phoenix Series Fund, Phoenix
Multi-Portfolio Fund, and The Phoenix Big Edge Series Fund; and
former President, Morehouse College.
Gerald M. McDonnell Trustee Sales Representative with Nucor-Yamoto, Inc. (steel
(DOB: 7/14/39) producer).
Thomas L. McVerry Trustee Former Vice President and Director of Rexham Corporation
(DOB: 8/2/39) (manufacturing); and former Director of Carolina
Cooperative Federal Credit Union.
William Walt Pettit Trustee Partner in the law firm of William Walt Pettit, P.A.
(DOB: 8/26/55)
David M. Richardson Trustee Vice Chair and former Executive Vice President, DHR
(DOB: 9/14/41) International, Inc. (executive recruitment); former Senior
Vice President, Boyden International Inc. (executive
recruitment); and Director, Commerce and Industry
Association of New Jersey, 411 International, Inc., and J&M
Cumming Paper Co.
Russell A. Salton, III MD Trustee Medical Director, U.S. Health Care/Aetna Health Services;
(DOB: 6/2/47) former Managed Health Care Consultant; and former
President, Primary Physician Care.
Michael S. Scofield Vice Chairman of the Attorney, Law Offices of Michael S. Scofield.
(DOB: 2/20/43) Board of Trustees
Richard J. Shima Trustee Former Chairman, Environmental Warranty, Inc. (insurance
(DOB: 8/11/39) agency); Executive Consultant, Drake Beam Morin, Inc.
(executive outplacement); Director of Connecticut Natural Gas
Corporation, Hartford Hospital, Old State House Association,
Middlesex Mutual Assurance Company, and Enhance Financial
Services, Inc.; Chairman, Board of Trustees, Hartford Graduate
Center; Trustee, Greater Hartford YMCA; former Director, Vice
Chairman and Chief Investment Officer, The Travelers Corporation;
former Trustee, Kingswood-Oxford School; and former Managing
Director and Consultant, Russell Miller, Inc.
<PAGE>
Anthony J. Fischer* President and Treasurer Vice President/Client Services, BISYS Fund Services.
(DOB:2/10/59)
Nimish S. Bhatt** Vice President and Vice President, Tax, BISYS Fund Services; former Assistant
(DOB: 6/6/63) Assistant Treasurer Vice President, EAMC/First Union Bank; former Senior Tax
Consulting/Acting Manager, Investment Companies Group,
PricewaterhouseCoopers LLP, New York.
Bryan Haft** Vice President Team Leader, Fund Administration, BISYS Fund Services.
(DOB: 1/23/65)
Senior Vice President and Assistant General Counsel, First
Michael H. Koonce Secretary Union Corporation; former Senior Vice President and General
(DOB: 4/20/60) Counsel, Colonial Management Associates, Inc.
</TABLE>
*Address: BISYS Fund Services, 90 Park Avenue, New York, New York 10016
**Address: BISYS, 3435 Stelzer Road, Columbus, Ohio 43219-8001
IV. Addition of New Classes of Shares
The "Class B" shares of each of the following Funds will now be
designated "Class C". In addition, each of the following Funds will add a new
class of shares designated as "Class B".
Evergreen Capital Balanced Fund (formerly Mentor Balanced Portfolio)
Evergreen Growth Fund (formerly Mentor Growth Portfolio)
Evergreen Capital Growth Fund (formerly Mentor Capital Growth Portfolio)
Evergreen Quality Income Fund (formerly Mentor Quality Income Portfolio)
Evergreen Perpetual Global Fund (formerly Mentor Perpetual Global Portfolio)
Evergreen High Income Fund (formerly Mentor High Income Portfolio)
Evergreen Perpetual International Fund (formerly Mentor Perpetual International
Portfolio)
The section entitled "How to Buy Shares" applies generally to each
Fund's Class A, Class B, Class C and Class Y shares. In addition, the section
entitled "Distribution" is amended to reflect that both Class B and Class C
shares make payments in accordance with a Distribution plan adopted pursuant to
Rule 12b-1 under the Investment Company Act of 1940.
The "Class Y" shares of Evergreen Select Fixed Income Fund II will be
designated "Institutional Shares". In addition, the Fund will add a new class of
shares designated as "Institutional Service Shares".
The section entitled "The Distributor" is amended to reflect that the
Fund's Institutional Service Shares make payments in accordance with a
Distribution plan adopted pursuant to Rule 12b-1 under the Investment Company
Act of 1940.
October 15, 1999
<PAGE>
EVERGREEN EQUITY TRUST
PART C
Item 23 Exhibits
<TABLE>
<CAPTION>
Exhibit
Number Description Location
- ------- ----------- -----------
<S> <C> <C>
(a) Declaration of Trust Incorporated by reference to
Registrant's Registration Statement
Filed on October 8, 1997
(b) By-laws Incorporated by reference to
Registrant's Registration Statement
Filed on October 8, 1997
(c) Provisions of instruments defining the rights Incorporated by reference to Exhibits I and II
of holders of the securities being registered of Registrant's Registration Statement
are contained in the Declaration of Trust Filed on October 8, 1997
Articles II, III.(6)(c), VI.(3), IV.(8), V, VI,
VII, VIII and By-laws Articles II, III and VIII.
(d)(1) Investment Advisory and Management Incorporated by reference to
Agreement between the Registrant and First Post-Effective Amendment No. 4 to
Union National Bank Registrant's Registration Statement
Filed on March 12, 1998
(d)(2) Investment Advisory and Management Incorporated by reference to
Agreement between the Registrant and Evergreen Post-Effective Amendment No. 4 to
Asset Management Corp. Registrant's Registration Statement
Filed on March 12, 1998
(d)(3) Investment Advisory and Management Incorporated by reference to
Agreement between the Registrant and Post-Effective Amendment No. 4 to
Evergreen Investment Management Company Registrant's Registration Statement
(formerly Keystone Investment Management Filed on March 12, 1998
Company)
(d)(4) Investment Advisory and Management Incorporated by reference to
Agreement between the Registrant and Post-Effective Amendment No. 12 to
Meridian Investment Company Registrant's Registration Statement
Filed on February 1, 1999
(d)(5) Sub-advisory Agreement between Evergreen Asset Incorporated by reference to
Management Corp. and Lieber & Company Post-Effective Amendment No.9 to
Registrant's Registrant Statement
Filed on October 1, 1998
(d)(6) Portfolio Management Agreement between Incorporated by reference to
OppenheimerFunds, Inc. and First Union Post-Effective Amendment No. 12 to
National Bank Registrant's Registration Statement
Filed on February 1, 1999
(d)(7) Portfolio Management Agreement between Incorporated by reference to
MFS Institutional Advisors, Inc. and First Post-Effective Amendment No. 12 to
Union National Bank Registrant's Registration Statement
Filed on February 1, 1999
(d)(8) Portfolio Management Agreement between Incorporated by reference to
Putnam Investment Management, Inc. and First Post-Effective Amendment No. 12 to
Union National Bank Registrant's Registration Statement
Filed on February 1, 1999
(d)(9) Form of Investment Advisory and Management Incorporated by reference to
Agreement between the Registrant and Mentor Post-Effective Amendment No. 19 to
Investment Advisors, LLC Registrant's Registration Statement
Filed on October 14, 1999
(e)(1) Class A and Class C Principal Underwriting Incorporated by reference to
Agreement between the Registrant and Evergreen Post-Effective Amendment No. 4 to
Distributor, Inc. Registrant's Registration Statement
Filed on March 12, 1998
(e)(2) Class B Principal Underwriting Agreement Incorporated by reference to
between the Registrant and Evergreen Investment Post-Effective Amendment No. 4 to
Services, Inc. (B-1) Registrant's Registration Statement
Filed on March 12, 1998
(e)(3) Class B Principal Underwriting Agreement Incorporated by reference to
between the Registrant and Evergreen Distributor, Post-Effective Amendment No. 4 to
Inc. (B-2) Registrant's Registration Statement
Filed on March 12, 1998
(e)(4) Class B Principal Underwriting Agreement Incorporated by reference to
between the Registrant and Evergreen Distributor, Post-Effective Amendment No. 4 to
Inc. (Evergreen/KCF) Registrant's Registration Statement
Filed on March 12, 1998
(e)(5) Class Y Principal Underwriting Agreement Incorporated by reference to
between the Registrant and Evergreen Distributor, Post-Effective Amendment No. 4 to
Inc. Registrant's Registration Statement
Filed on March 12, 1998
(e)(6) Principal Underwriting Agreement between Incorporated by reference to
the Registrant and Kokusai Securities Company Post-Effective Amendment No. 6 to
Limited Registrant's Registration Statement
Filed on July 31, 1998
(e)(7) Specimen Copy of Dealer Agreement used by Incorporated by reference to
Evergreen Distributor, Inc. Registrant's Pre-Effective Amendment No. 1
Filed on November 10, 1997
(e)(8) Principal Underwriting Agreement between Incorporated by reference to
the Registrant and Nomura Securities Company Post-Effective Amendment No. 6 to
Registrant's Registration Statement
Filed on July 31, 1998
(f) Deferred Compensation Plan Incorporated by reference to
Registrant's Pre-Effective Amendment No. 1
Filed on November 10, 1997
(g) Custodian Agreement between the Registrant Incorporated by reference to
and State Street Bank and Trust Company Post-Effective Amendment No. 4 to
Registrant's Registration Statement
Filed on March 12, 1998
(h)(1) Administration Agreement between the Incorporated by reference to
Registrant and Evergreen Investment Post-Effective Amendment No. 4 to
Services, Inc. Registrant's Registration Statement
Filed on March 12, 1998
(h)(2) Transfer Agent Agreement between the Incorporated by reference to
Registrant and Evergreen Service Company Post-Effective Amendment No. 4 to
Registrant's Registration Statement
Filed on March 12, 1998
(h)(3) Form of Administration Agreement between Incorporated by reference to
the Registrant and Evergeen Investment Post-Effective Amendment No. 19
Service, Inc. (10/15/99 Agreement) Registrant's Registration Statement
Filed on October 14, 1999
(i)(1) Opinion and Consent of Sullivan & Worcester LLP Incorporated by reference to
Registrant's Post-Effective Amendment No. 2
Filed on December 12, 1997
(i)(2) Opinion and Consent of Sullivan & Worcester LLP Incorporated by reference to
Post-Effective Amendment No. 19
Registrant's Registration Statement
Filed on October 14, 1999
(j)(1) Consent of KPMG LLP Incorporated by reference to
Domestic Growth Funds Registrant's Post-Effective Amendment No. 12
Filed on February 1, 1999
(j)(2) Consent of PricewaterhouseCoopers LLP Incorporated by reference to Registrant's
Domestic Growth Funds Post-Effective Amendment No. 12
Filed on February 1, 1999
(j)(3) Consent of Ernst & Young LLP Incorporated by reference to Registrant's
Domestic Growth Funds Post-Effective Amendment No. 12
Filed on February 1, 1999
(j)(4) Consent of KPMG LLP Incorporated by reference to Registrant's
Balanced Fund Post-Effective Amendment No. 16
Filed on July 29, 1999
(j)(5) Consent of PricewaterhouseCoopers LLP Incorporated by reference to Registrant's
Growth and Income Funds Post-Effective Amendment No. 9
Filed on September 30, 1998
(j)(6) Consent of KPMG LLP Incorporated by reference to Registrant's
Growth and Income Funds Post-Effective Amendment No. 9
Filed on September 30, 1998.
(j)(7) Consent of KPMG LLP Incorporated by reference to
Post-Effective Amendment No. 19 to
(k) Not applicable Registrant's Registration Statement
Filed on October 14, 1999
(l) Not applicable
(m)(1) 12b-1 Distribution Plan for Class A Incorporated by reference to
Post-Effective Amendment No. 4 to
Registrant's Registration Statement
Filed on March 12, 1998
(m)(2) 12b-1 Distribution Plan for Class B Incorporated by reference to
(KAF B-1) Post-Effective Amendment No. 4 to
Registrant's Registration Statement
Filed on March 12, 1998
(m)(3) 12b-1 Distribution Plan for Class B Incorporated by reference to
(KAF B-2) Post-Effective Amendment No. 4 to
Registrant's Registration Statement
Filed on March 12, 1998
(m)(4) 12b-1 Distribution Plan for Class B Incorporated by reference to
(KCF/Evergreen) Post-Effective Amendment No. 4 to
Registrant's Registration Statement
Filed on March 12, 1998
(m)(5) 12b-1 Distribution Plan for Class C Incorporated by reference to
Post-Effective Amendment No. 4 to
Registrant's Registration Statement
Filed on March 12, 1998
(n) Not applicable
(o) Multiple Class Plan Incorporated by reference to Post-Effective
Amendment No. 13 to Registrants's Registration
Statement filed on April 30, 1999
</TABLE>
Item 24. Persons Controlled by or Under Common Control with Registrant.
None
Item 25. Indemnification.
Registrant has obtained from a major insurance carrier a trustees and
officers liability policy covering certain types of errors and omissions.
Provisions for the indemnification of the Registrant's Trustees and
officers are also contained in the Registrant's Declaration of Trust.
Provisions for the indemnification of the Registrant's Investment Advisors
are contained in their respective Investment Advisory and Management Agreements.
Provisions for the indemnification of Evergreen Distributor, Inc., the
Registrant's principal underwriter, are contained in each Principal Underwriting
Agreement between Evergreen Distributor, Inc. and the Registrant.
Provisions for the indemnification of Evergreen Service Company, the
Registrant's transfer agent, are contained in the Master Transfer and
Recordkeeping Agreement between Evergreen Service Company and the Registrant.
Provisions for the indemnification of State Street Bank and Trust Company,
the Registrant's custodian, are contained in the Custodian Agreement between
State Street Bank and Trust Company and the Registrant.
Item 26. Business or Other Connections of Investment Adviser.
The Directors and principal executive officers of First Union National Bank
are:
Edward E. Crutchfield, Jr. Chairman and Chief Executive Officer,
First Union Corporation; Chief Executive
Officer and Chairman, First Union National
Bank
Anthony P. Terracciano President, First Union Corporation; President
First Union National Bank
John R. Georgius Vice Chairman, First Union Corporation;
Vice Chairman, First Union National Bank
Marion A. Cowell, Jr. Executive Vice President, Secretary &
General Counsel, First Union Corporation;
Secretary and Executive Vice President,
First Union National Bank
Robert T. Atwood Executive Vice President and Chief Financial
Officer, First Union Corporation; Chief
Financial Officer and Executive Vice
President, First Union National Bank
All of the above persons are located at the following address: First Union
National Bank, One First Union Center, Charlotte, NC 28288.
The information required by this item with respect to Evergreen Asset
Management Corp. is incorporated by reference to the Form ADV (File No.
801-46522) of Evergreen Asset Management Corp.
The information required by this item with respect to Evergreen Investment
Management Company (formerly Keystone Investment Management Company) is
incorporated by reference to the Form ADV (File No. 801-8327) of Evergreen
Investment Management Company.
The information required by this item with respect to Meridian Investment
Company is incorporated by reference to the Form ADV (File No. 801-8327) of
Meridian Investment Company.
The information required by this item with respect to Mentor Investment
Advisors, LLC is incorporated by reference to the Form ADV (File No. 801-40384)
of Mentor Investment Advisors, LLC.
Item 27. Principal Underwriters.
Evergreen Distributor, Inc. acts as principal underwriter for each
registered investment company or series thereof that is a part of the Evergreen
"fund complex" as such term is defined in Item 22(a) of Schedule 14A under the
Securities Exchange Act of 1934.
The Directors and principal executive officers of Evergreen Distributor,
Inc. are:
Lynn C. Mangum Director, Chairman and Chief Executive
Officer
Dennis Sheehan Director, Chief Financial Officer
J. David Huber President
Kevin J. Dell Vice President, General Counsel and Secretary
All of the above persons are located at the following address: Evergreen
Distributor, Inc., 90 Park Avenue, New York, New York 10019.
The information required by this item with respect to Mentor Investment
Advisors, LLC is incorporated by reference to the Form ADV (File No. 801-40384)
of Mentor Investment Advisors, LLC.
The Registrant has not paid, directly or indirectly, any commissions or
other compensation to the Principal Underwriter in the last fiscal year.
Item 28. Location of Accounts and Records.
All accounts and records required to be maintained by Section 31(a) of the
Investment Company Act of 1940 and the Rules 31a-1 through 31a-3
promulgated thereunder are maintained at one of the following locations:
Evergreen Investment Services, Inc., Evergreen Service Company and
Evergreen Investment Management Company (formerly Keystone Investment
Management Company), all located at 200 Berkeley Street, Boston,
Massachusetts 02110
First Union National Bank, One First Union Center, 301 S. College Street,
Charlotte, North Carolina 28288
Evergreen Asset Management Corp., 2500 Westchester Avenue, Purchase,
New York 10577
Mentor Investment Advisors, LLC, 901 East Byrd Street, Richmond, Virginia
23219
Iron Mountain, 3431 Sharp Slot Road, Swansea, Massachusetts 02777
State Street Bank and Trust Company, 2 Heritage Drive, North Quincy,
Massachusetts 02171
Meridian Investment Co., 55 Valley Stream Parkway, Malvern, Pennsylvania
19355
Item 29. Management Services.
Not Applicable
Item 30. Undertakings.
The Registrant hereby undertakes to furnish each person to whom a
prospectus is delivered with a copy of the Registrant's latest annual
report to shareholders, upon request and without charge.
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933 and the
Investment Company Act of 1940 the Registrant has duly caused this Registration
Statement to be signed on its behalf by the undersigned, thereto duly
authorized, in the City of New York, and State of New York, on the 20th day of
October, 1999.
EVERGREEN EQUITY TRUST
By: /s/ Anthony J. Fischer
-----------------------------
Name: Anthony J. Fischer
Title: President
Pursuant to the requirements of the Securities Act of 1933, this
Registration Statement has been signed below by the following persons in the
capacities indicated on the 20th day of October, 1999.
<TABLE>
<CAPTION>
<S> <C> <C>
/s/Anthony J. Fischer /s/ Laurence B. Ashkin /s/ Charles A. Austin, III
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Anthony J. Fischer Laurence B. Ashkin* Charles A. Austin III*
President and Treasurer (Principal Trustee Trustee
Financial and Accounting Officer)
/s/ K. Dun Gifford /s/ James S. Howell /s/ William Walt Pettit
- ---------------------------- ---------------------------- --------------------------------
K. Dun Gifford* James S. Howell* William Walt Pettit*
Trustee Chairman of the Board Trustee
and Trustee
/s/Gerald M. McDonnell /s/ Thomas L. McVerry /s/ Michael S. Scofield
- ------------------------------- ----------------------------- --------------------------------
Gerald M. McDonell* Thomas L. McVerry* Michael S. Scofield*
Trustee Trustee Vice Chairman of the Board
and Trustee
/s/ David M. Richardson /s/ Russell A. Salton, III MD /s/ Leroy Keith, Jr.
- ------------------------------ ------------------------------- --------------------------------
David M. Richardson* Russell A. Salton, III MD* Leroy Keith, Jr.
Trustee Trustee Trustee
/s/ Richard J. Shima
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Richard J. Shima*
Trustee
</TABLE>
*By: /s/ Maureen E. Towle
- -------------------------------
Maureen E. Towle
Attorney-in-Fact
*Maureen E. Towle, by signing her name hereto, does hereby sign this
document on behalf of each of the above-named individuals pursuant to powers of
attorney duly executed by such persons.
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933 and the
Investment Company Act of 1940 the undersigned has duly caused this
Registrations Statement to be signed on its behalf by the undersigned, thereto
duly authorized, in the City of Richmond, and the Commonwealth of Virginia on
this 20th day of October, 1999.
MENTOR FUNDS
By: /s/ Paul F. Costello
---------------------------------
Name: Paul F. Costello
Title: President
Pursuant to the requirements of the Securities Act of 1933, this
Registration Statement has been signed below by the following persons in the
capacities indicated on the 20th day of October, 1999.
<TABLE>
<CAPTION>
<S> <C> <C>
/s/ Paul F. Costello /s/ Terry L. Perkins /s/ Daniel J. Ludeman
- ------------------------------ ----------------------------- -------------------------------
Paul F. Costello Terry L. Perkins Daniel J. Ludeman*
President (Principal Treasurer (Principal Trustee
Executive Officer) Financial and Accounting Officer)
/s/ Arnold H. Dreyfuss /s/ Thomas F. Keller /s/ Peter J. Quinn, Jr.
- ------------------------------- -------------------------- ----------------------------
Arnold H. Dreyfuss* Thomas F. Keller* Peter J. Quinn, Jr.*
Trustee Trustee Trustee
/s/ Louis W. Moelchert, Jr. /s/ Troy A. Peery, Jr. /s/ J. Garnett Nelson
- --------------------------------- ------------------------------ ---------------------------------
Louis W. Moelchert, Jr.* Troy A. Peery, Jr.* J. Garnett Nelson*
Trustee Trustee Trustee
/s/ Arch T. Allen, III /s/ Weston E. Edwards /s/ Jerry R. Barrentine
- --------------------------------- ----------------------------- ------------------------------
Arch T. Allen, III* Weston E. Edwards* Jerry R. Barrentine*
Trustee Trustee Trustee
</TABLE>
*By /s/ Paul F. Costello
- ------------------------------
Paul F. Costello
Attorney-in-Fact
*Paul F. Costello, by signing his name hereto, does hereby sign this
document on behalf of each of the above-named individuals pursuant to powers of
attorney duly executed by such persons.
<PAGE>
INDEX TO EXHIBITS
Exhibit Number Exhibit
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