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. 15 [X]
and/or
REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940 [ ]
Amendment No. 14 [X]
EVERGREEN EQUITY TRUST
(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:
[X] 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)
<PAGE>
EVERGREEN EQUITY TRUST
CONTENTS OF
POST-EFFECTIVE AMENDMENT NO. 15
to
REGISTRATION STATEMENT
This Post-Effective Amendment No. 15 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
------
Supplement to the Prospectuses of Evergreen Fund, Evergreen Micro Cap Fund,
Evergreen Aggressive Growth Fund, Evergreen Omega Fund, Evergreen Small Company
Growth Fund, Evergreen Strategic Growth Fund and Evergreen Tax Strategic Equity
Fund is contained herein.
Prospectuses for Evergreen American Retirement Fund, Evergreen Balanced
Fund, Evergreen Foundation Fund and Evergreen Tax Strategic Foundation Fund
contained in Post-Effective Amendment No. 14 to Registration
Statement No. 333-37453/811-08453 filed on May 28, 1999 are 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.
Prospectuses for Evergreen American Retirement Fund, Evergreen
Foundation Fund, Evergreen Tax Strategic Foundation Fund and
Evergreen Balanced Fund contained in Post-Effective
Amendment No. 6 to Registration Statement No. 333-37453/811-08413
filed on July 31, 1998 are incorporated by
reference herein.
PART B
------
Statement of Additional Information for Evergreen American Retirement Fund,
Evergreen Balanced Fund, Evergreen Foundation Fund and Evergreen Tax Strategic
Foundaiton Fund contained in Post-Effective Amendment No. 14 to Registration
Statement No. 333-37453/811-08453 filed on May 28, 1999 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.
Statement of Additional Information for Evergreen American Retirement Fund,
Evergreen Foundation Fund, Evergreen Tax Strategic Foundation Fund
and Evergreen Balanced Fund contained in Post-Effective
Amendment No. 6 to Registration Statement No. 333-37453/811-08413
filed on July 31, 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>
SUPPLEMENT TO PROSPECTUSES OF
EVERGREEN DOMESTIC GROWTH FUNDS
I. Evergreen Small Company Growth Fund
Effective September 25, 1998, the section entitled "INVESTMENT STRATEGIES" on
the page entitled "Evergreen Small Company Growth Fund" is hereby supplemented
to reflect the following change:
The Fund invests at least 65% of its assets in common stocks of companies with
small market capitalizations (less than $2.5 billion) at the time of the Fund's
investment.
October 15, 1998
II. Evergreen Aggressive Growth Fund
Effective April 1, 1999, the investment advisor to Aggressive Growth Fund is
Evergreen Investment Management Company ("EIMC"). EIMC is entitled to receive
from Aggressive Growth Fund an annual fee equal to 0.60% of its average daily
net assets.
The section entitled "THE FUNDS' PORTFOLIO MANAGERS" is hereby supplemented to
reflect the following change:
The day-to-day management of the Fund is handled by Maureen E. Cullinane. Ms.
Cullinane has been a Senior Vice President and Senior Portfolio Manager of EIMC
since 1995. She has worked at EIMC since 1974 and has over 20 years of
investment experience. Ms. Cullinane has managed the Fund since April 1999.
April 1, 1999
III. Evergreen Micro Cap Fund
On March 12, 1999, the Board of Trustees of the Evergreen Funds approved a
proposal to reorganize Evergreen Micro Cap Fund ("Micro Cap") into Evergreen
Fund ("Evergreen"). If the shareholders of Micro Cap approve the proposal, all
of the assets of Micro Cap will be transferred to Evergreen and shareholders of
Micro Cap will receive shares of Evergreen in exchange for their shares.
Shareholders of Micro Cap as of May 5, 1999 are scheduled to vote on the
proposal at a special meeting of shareholders to be held on July 23, 1999. If
approved, the reorganization is proposed to take place on July 30, 1999.
Shareholders of Micro Cap will be mailed information detailing the proposal on
or about June 2, 1999.
April 23, 1999
IV. Evergreen Fund
Effective July 9, 1999, the section of the prospectuses entitled "THE FUNDS'
PORTFOLIO MANAGERS" is supplemented to reflect the following change:
The day-to-day management of the Fund is handled by Stephen A. Lieber. Mr.
Lieber is Chairman and Co-Chief Executive Officer of EAMC. He was a founding
partner of Lieber & Company, the original sponsor of the Evergreen Funds, when
it was established in 1969. He has been with EAMC and its predecessor since
1971 and has been in the investment management profession since 1952. Mr.
Lieber has managed the Fund since its inception in 1970.
June 14, 1999
V. Evergreen Strategic Growth Fund
Effective June 30, 1999, the following is added to the Class Y prospectus:
1
- --------------------------------------------------------------------------------
EVERGREEN
- --------------------------------------------------------------------------------
Strategic Growth Fund
FUND FACTS:
Goal:
. Capital Growth
Principal Investments:
. Common Stocks
. Bonds
. Convertible Securities
Class of Shares Offered in this Prospectus:
. Class Y
Investment Advisor:
. Evergreen Investment Management Company
Portfolio Manager:
. Maureen E. Cullinane
Dividend Payment Schedule:
. Annually
................................................................................
[GRAPHIC APPEARS HERE]
INVESTMENT GOAL
The Fund seeks growth of capital.
[GRAPHIC APPEARS HERE]
INVESTMENT STRATEGY
The following supplements the investment strategies discussed in the "Overview"
on page 1.
The Fund seeks to achieve its goal by investing in a wide range of sectors,
industries and companies both in the U.S. and abroad. The Fund invests primarily
in domestic common stocks, bonds (including bonds convertible into or
exchangeable for common stocks) and rights or warrants to purchase common
stocks. The Fund may also invest in foreign securities.
The Fund may invest in high quality money market instruments in response to
adverse economic, political or market conditions. This strategy is inconsistent
with the Fund's principal investment strategy and investment goal, and if
employed could result in a lower return and loss of market opportunity.
[GRAPHIC APPEARS HERE]
RISK FACTORS
Your investment in the Fund is subject to the risks discussed in the "Overview"
on page 1 under the headings:
. Stock Market Risk
. Foreign Investment Risk
. Interest Rate Risk
. Credit Risk
2 DOMESTIC GROWTH FUNDS
- --------------------------------------------------------------------------------
EVERGREEN
- --------------------------------------------------------------------------------
[GRAPHIC APPEARS HERE]
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 Class Y shares of the Fund
for each of the last ten calendar years. 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 Class Y Shares (%)*
1989 1990 1991 1992 1993 1994 1995
24.91 -6.49 42.17 9.01 14.08 -2.21 29.80
1996 1997 1998
12.94 32.16 26.17
Best Quarter: 4th Quarter 1998 +21.04%*
Worst Quarter: 3rd Quarter 1990 -14.92%*
The next table lists the Fund's average annual total return for Class Y Shares
over the past one, five and ten years 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 S&P 500 Index, which is an unmanaged index tracking the
performance of 500 publicly-traded U.S. stocks. It is often used to indicate the
performance of the overall stock market. The S&P 500 Index is not an actual
investment.
Average Annual Total Return
(for the period ended 12/31/98)*
Inception
Date Performance
of Class 1 year 5 year 10 year Since 9/11/1935
Class Y 6/30/1999 26.17% 19.04% 17.31% 11.93%
S&P 500 26.67% 21.39% 16.04% 12.31%
* Historical performance shown for Class Y prior to its inception is based on
the performance of Class B, the original class offered. These historical
returns for Class Y have been adjusted to eliminate the effect of the
higher 12b-1 fees applicable to Class B. The 12b-1 fee for Class B
is 1.00%. Class Y does not pay a 12b-1 fee. If these fees had not been
eliminated, returns would have been lower.
[GRAPHIC APPEARS HERE]
EXPENSES
This section describes the fees and expenses you would pay if you bought and
held shares of the Fund.
Shareholder Fees (fees paid directly from your investment)
Shareholder Transaction Expenses Class Y
Maximum sales charge imposed on None purchases (as a % of offering price)
Maximum deferred sales charge (as None a % of either the redemption amount or
initial investment, whichever is lower)
Annual Fund Operating Expenses (expenses that are deducted from Fund assets)
Management 12b-1 Other Total Fund
Fees Fees Expenses Operating Expenses*
Class Y .53% None .31% .84%
* Estimated for fiscal year ending 9/30/1999.
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
After 1 year $ 86
After 3 years $ 268
After 5 years $ 466
After 10 years $1,037
DOMESTIC GROWTH FUNDS 3
The Strategic Growth Fund is added to the third paragraph under the section
"THE FUNDS' INVESTMENT ADVISORS," contained on page 16 of the prospectus, which
discusses Evergreen Investment Management Company as investment advisor.
The following paragraph is added after the fifth paragraph under the section
"THE FUNDS' PORTFOLIO MANAGERS," contained on page 17 of the prospectus:
Strategic Growth Fund
The day-to-day management of the Fund has been handled by Maureen E. Cullinane
since 1995. She has been a portfolio manager at EIMC since 1987.
Ms. Cullinane has been Senior Vice President and Senior Portfolio Manager at
EIMC since 1995 and has worked at EIMC since 1974.
June 30, 1999
VI. Evergreen Stock Selector Fund
The following disclosure is added to the "FUND FACTS" of the Fund's Class A,
Class B and Class C shares' prospectus:
. Classes of Shares Offered in this Prospectus: Class A, Class B and Class C
The following disclosure is added to the performance and expense information
for the Fund:
Average Annual Total Return (for the period ended 12/31/1998)*
Performance
Inception Since
Date 1 year 5 years 10 years 2/28/1990
of Class
Class A 2/28/1990 7.19% 18.60% N/A 17.05%
Class B 11/7/1997 8.12% 17.28% N/A 16.44%
Class C 6/30/1999 11.64% 19.76% N/A 17.70%
S&P 500 26.67% 21.39% N/A 19.03%**
* Historical performance shown for Classes B and C prior to their inception
is based on the performance of Class A, the original class offered. These
historical returns for Classes B and C have not been adjusted to reflect
the effect of each Class' 12b-1 fees. This fee is .25% for Class A, 1.00%
for Class B, and 1.00% for Class C. If these fees had been reflected,
returns for Classes B and C would have been lower.
**Performance since 11/7/1997 is 26.36%
Shareholder Fees (fees paid directly from
your investment)
Shareholder Transaction Expenses Class C
Maximum sales charge imposed on purchases None
(as a % of offering price)
Maximum deferred sales charge (as a % of either the 1.00%
redemption amount or initial investment, whichever is lower)
Annual Fund Operating Expenses
(expenses that are deducted from Fund assets)*
Management 12b-1 Other Total Fund
Fees Fees Expenses Operating Expenses**
Class C .74% 1.00% .26% 2.00%
*From time to time, the Fund's investment advisor may, at its discretion,
reduce or waive its fees or reimburse a 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 operating expenses do not
reflect fee waivers and expense reimbursements. Including current fee waivers
and expense reimbursements, total operating expenses for Class C would be
1.93%.
**Estimated for the fiscal year ending 9/30/1999.
Example of Fund Expenses
Assuming
Redemption at Assuming
End of Period No Redemption
Class C Class C
After 1 year $ 303 $ 203
After 3 years $ 627 $ 627
June 30, 1999
4
VII. Evergreen Aggressive Growth Fund, Evergreen Fund, Evergreen Micro Cap Fund,
Evergreen Omega Fund, Evergreen Small Company Growth Fund, Evergreen Stock
Selector Fund, Evergreen Strategic Growth Fund, Evergreen Tax Strategic
Equity Fund
Effective June 30, 1999 the "FINANCIAL HIGHLIGHTS" of the Funds are updated as
follows:
The tables below show, for each class of shares of each Fund, financial
highlights for a share outstanding throughout the six months ended March 31,
1999. The following information is unaudited.
<TABLE>
<CAPTION>
Evergreen Aggressive Growth Fund Evergreen Fund
----------------------------------------- ---------------------------------------
Class A Class B Class C Class Y Class A Class B Class C Class Y
<S> <C> <C> <C> <C> <C> <C> <C> <C>
- ---------------------------------------------------------------------------------------------------------------
Net asset value,
beginning of period $ 21.26 $ 20.78 $20.75 $ 21.46 $21.11 $20.82 $20.79 $21.25
======== ======= ====== ======= ====== ====== ====== ======
................................................................................................................
Income from investment
operations
................................................................................................................
Net investment income (0.11)# (0.18)# (0.18)# (0.08)# 0.03 (0.06) (0.06) 0.06
................................................................................................................
Net realized and
unrealized gains or
losses on securities 7.61 7.41 7.38 7.70 3.08 3.06 3.05 3.12
-------- ------- ------ ------- ------ ------ ------ ------
................................................................................................................
Total from investment
operations 7.50 7.23 7.20 7.62 3.11 3.00 2.99 3.18
-------- ------- ------ ------- ------ ------ ------ ------
................................................................................................................
Less distributions to
shareholders from
................................................................................................................
Net investment income 0 0 0 0 (0.04) 0 0 (0.05)
................................................................................................................
Net realized gains (2.63) (2.63) (2.63) (2.63) (0.07) (0.07) (0.07) (0.07)
-------- ------- ------ ------- ------ ------ ------ ------
................................................................................................................
Total distributions to
shareholders (2.63) (2.63) (2.63) (2.63) (0.11) (0.07) (0.07) (0.12)
-------- ------- ------ ------- ------ ------ ------ ------
................................................................................................................
Net asset value, end of
period $ 26.13 $ 25.38 $25.32 $ 26.45 $24.11 $23.75 $23.71 $24.31
======== ======= ====== ======= ====== ====== ====== ======
................................................................................................................
Total return* 38.30% 37.84% 37.75% 38.51% 14.73% 14.41% 14.38% 14.99%
................................................................................................................
Ratios and supplemental
data
................................................................................................................
Net assets, end of
period (millions) $177,732 $51,943 $4,489 $34,501 $ 200 $ 692 $ 13 $1,135
................................................................................................................
Ratios to average net
assets
Expenses 1.23%+ 1.98%+ 1.98%+ 0.98%+ 1.42%+ 2.16%+ 2.16%+ 1.16%+
................................................................................................................
Net investment income (1.00%)+ (1.74%)+ (1.74%)+ (0.74%)+ 0.25%+ (0.51%)+ (0.51%)+ 0.49%+
................................................................................................................
Portfolio turnover rate 10% 10% 10% 10% 4% 4% 4% 4%
................................................................................................................
</TABLE>
* Excluding applicable sales charges for Class A, Class B and Class C.
+ Annualized.
# Net investment income is based on average shares outstanding during the
period.
5
<TABLE>
<CAPTION>
Evergreen Micro Cap Fund Evergreen Omega Fund
---------------------------------------- ------------------------------------------
Class A Class B Class C Class Y Class A Class B Class C Class Y
<S> <C> <C> <C> <C> <C> <C> <C> <C>
- ------------------------------------------------------------------------------------------------------------------
Net asset value,
beginning of period $19.88 $19.31 $19.33 $ 20.05 $ 21.50 $ 20.32 $ 20.37 $21.54
====== ====== ====== ======= ======== ======== ======= ======
...................................................................................................................
Income from investment
operations
...................................................................................................................
Net investment income# (0.05) (0.12) (0.12) (0.03) (0.07) (0.15) (0.15) (0.05)
...................................................................................................................
Net realized and
unrealized gains or
losses on securities (1.25) (1.20) (1.19) (1.25) 7.07 6.65 6.66 7.10
------ ------ ------ ------- -------- -------- ------- ------
...................................................................................................................
Total from investment
operations (1.30) (1.32) (1.31) (1.28) 7.00 6.50 6.51 7.05
------ ------ ------ ------- -------- -------- ------- ------
...................................................................................................................
Less distributions to
shareholders from
...................................................................................................................
Net investment income 0 0 0 0 0 0 0 0
...................................................................................................................
Net realized gains (0.46) (0.46) (0.46) (0.46) (2.61) (2.61) (2.61) (2.61)
------ ------ ------ ------- -------- -------- ------- ------
...................................................................................................................
Total distributions to
shareholders (0.46) (0.46) (0.46) (0.46) (2.61) (2.61) (2.61) (2.61)
------ ------ ------ ------- -------- -------- ------- ------
...................................................................................................................
Net asset value, end of
period $18.12 $17.53 $17.56 $ 18.31 $ 25.89 $ 24.21 $ 24.27 $25.98
====== ====== ====== ======= ======== ======== ======= ======
...................................................................................................................
Total return* (6.80%) (7.11%) (7.05%) (6.64%) 34.73% 34.24% 34.21% 34.90%
...................................................................................................................
Ratios and supplemental
data
...................................................................................................................
Net assets, end of
period (millions) $3,428 $3,447 $2,465 $32,635 $217,138 $195,055 $19,716 $2,147
...................................................................................................................
Ratios to average net
assets
Expenses 1.69%+ 2.44%+ 2.44%+ 1.44%+ 1.29%+ 2.04%+ 2.04%+ 1.04%+
...................................................................................................................
Net investment income (0.53%)+ (1.29%)+ (1.29%)+ (0.29%)+ (0.62%)+ (1.37%)+ (1.37%)+ (0.41%)+
...................................................................................................................
Portfolio turnover rate 21% 21% 21% 21% 70% 70% 70% 70%
...................................................................................................................
</TABLE>
<TABLE>
<CAPTION>
Evergreen Small Company Growth Fund Evergreen Stock Selector Fund
---------------------------------------- -----------------------------
Class A Class B Class C Class Y Class A Class B Class Y
<S> <C> <C> <C> <C> <C> <C> <C>
- ------------------------------------------------------------------------------------------------------
Net asset value,
beginning of period $ 5.72 $ 5.69 $ 5.70 $ 5.74 $ 18.34 $18.23 $ 18.35
====== ====== ====== ====== ======= ====== ========
.......................................................................................................
Income from investment
operations
.......................................................................................................
Net investment income # (0.02) (0.04) (0.04) (0.01) (0.01) (0.08) 0.01
.......................................................................................................
Net realized and
unrealized gains or
losses on securities 0.90 0.90 0.89 0.89 5.98 5.93 5.98
------ ------ ------ ------ ------- ------ --------
.......................................................................................................
Total from investment
operations 0.88 0.86 0.85 0.88 5.97 5.85 5.99
------ ------ ------ ------ ------- ------ --------
.......................................................................................................
Less distributions to
shareholders from
.......................................................................................................
Net investment income# 0 0 0 0 (0.01) 0 (0.01)
.......................................................................................................
Net realized gains (1.18) (1.18) (1.18) (1.18) (4.11) (4.11) (4.11)
------ ------ ------ ------ ------- ------ --------
.......................................................................................................
Total distributions to
shareholders (1.18) (1.18) (1.18) (1.18) (4.12) (4.11) (4.12)
------ ------ ------ ------ ------- ------ --------
.......................................................................................................
Net asset value, end of
period $ 5.42 $ 5.37 $ 5.37 $ 5.44 $ 20.19 $19.97 $ 20.22
====== ====== ====== ====== ======= ====== ========
.......................................................................................................
Total return* 17.06% 16.77% 16.52% 16.99% 36.10% 35.61% 36.30%
.......................................................................................................
Ratios and supplemental
data
.......................................................................................................
Net assets, end of
period (millions) $ 681 $ 103 $ 3 $ 2 $20,434 $ 991 $404,547
.......................................................................................................
Ratios to average net
assets
Expenses 1.22%+ 1.99%+ 1.99%+ 1.01%+ 1.06%+ 1.81%+ 0.82%+
.......................................................................................................
Net investment income (0.59%)+ (1.33%)+ (1.32%)+ (0.41%)+ (0.09%)+ (0.81%)+ 0.14%+
.......................................................................................................
Portfolio turnover rate 68% 68% 68% 68% 37% 37% 37%
.......................................................................................................
</TABLE>
* Excluding applicable sales charges for Class A, Class B and Class C.
+ Annualized.
# Net investment income is based on average shares outstanding during the
period.
6
<TABLE>
<CAPTION>
Evergreen Strategic Evergreen Tax Strategic Equity Fund
Growth Fund --------------------------------------------
-------------------------------
Class A Class B Class C Class A Class B (a) Class C(b) Class Y
------- ----------- ------- ------- ----------- ----------- -------
<S> <C> <C> <C> <C> <C> <C> <C>
- ----------------------------------------------------------------------------------------------------------
Net asset value,
beginning of period $ 9.67 $ 9.63 $ 9.63 $10.65 $10.41 $12.77 $10.65
====== ====== ====== ====== ====== ====== ======
...........................................................................................................
Income from investment
operations
...........................................................................................................
Net investment income# (0.01) (0.05) (0.05) (0.01) (0.06) (0.06) 0.01
...........................................................................................................
Net realized and
unrealized gains or
losses on securities 2.66 2.64 2.64 2.98 3.24 0.90 3.00
------ ------ ------ ------ ------ ------ ------
...........................................................................................................
Total from investment
operations 2.65 2.59 2.59 2.97 3.18 0.84 3.01
------ ------ ------ ------ ------ ------ ------
...........................................................................................................
Less distributions to
shareholders from
...........................................................................................................
Net investment income 0 0 0 0 0 0 0
...........................................................................................................
Net realized gains (1.34) (1.34) (1.34) 0 0 0 0
------ ------ ------ ------ ------ ------ ------
...........................................................................................................
Total distributions to
shareholders (1.34) (1.34) (1.34) 0 0 0 0
------ ------ ------ ------ ------ ------ ------
...........................................................................................................
Net asset value, end of
period $10.98 $10.88 $10.88 $13.62 $13.59 $13.61 $13.66
====== ====== ====== ====== ====== ====== ======
...........................................................................................................
Total return* 29.56% 29.03% 29.03% 27.89% 30.55% 6.58% 28.26%
...........................................................................................................
Ratios and supplemental
data
...........................................................................................................
Net assets, end of
period (millions) $ 905 $ 108 $ 2 $3,963 $5,583 $1,334 $5,556
...........................................................................................................
Ratios to average net
assets
Expenses 1.03%+ 1.78%+ 1.78%+ 2.83%+ 3.58%+ 3.58%+ 2.58%+
...........................................................................................................
Net investment income (0.22%)+ (0.96%)+ (1.01%)+ (0.13%)+ (0.84%)+ (0.83%)+ 0.11%+
...........................................................................................................
Portfolio turnover rate 70% 70% 70% 4% 4% 4% 4%
...........................................................................................................
</TABLE>
* Excluding applicable sales charges for Class A, Class B and Class C.
+ Annualized.
(a) For the period from October 14, 1998 (commencement of class operations) to
March 31, 1999.
(b) For the period from November 4, 1998 (commencement of class operations) to
March 31, 1999.
# Net investment income is based on average shares outstanding during the
period.
June 30, 1999
7
EVERGREEN EQUITY TRUST
PART C
Item 23 Exhibits
Unless otherwise indicated, each of the Exhibits listed below is filed
herewith.
<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
(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) Form of 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 Evergreen Incorporated by reference to
Investment Services, Inc. and the Registrant Post-Effective Amendment No. 4 to
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
(i) Opinion and Consent of Sullivan & Worcester LLP Incorporated by reference to
Registrant's Post-Effective Amendment No. 2
Filed on December 12, 1997
(j) Not applicable
(k) Not applicable
(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
Registrant'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.
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 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
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 Columbus, and State of Ohio, on the 30th day of
June, 1999.
EVERGREEN EQUITY TRUST
By: /s/ William J. Tomko
-----------------------------
Name: William J. Tomko
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 30th day of June, 1999.
<TABLE>
<CAPTION>
<S> <C> <C>
/s/William J. Tomko /s/ Laurence B. Ashkin /s/ Charles A. Austin, III
- ------------------------- ----------------------------- --------------------------------
William J. Tomko 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 and Trustee
Trustee
/s/ Gerald M. McDonnell /s/ Thomas L. McVerry /s/ Michael S. Scofield
- ------------------------------- ----------------------------- --------------------------------
Gerald M. McDonell* Thomas L. McVerry* Michael S. Scofield*
Trustee Chairman of the Board and Vice Chairman of the Board and
Trustee
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
- ------------------------------
Richard J. Shima*
</TABLE>
*By: /s/ Beth K. Werths
- -------------------------------
Beth K. Werths
Attorney-in-Fact
*Beth K. Werths, 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>
