EVERGREEN ASSET MANAGEMENT CORP.
2500 Westchester Avenue
Purchase, New York 10577
August 29, 1995.
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549
Re Rule 24f-2 Notice of
EVERGREEN INVESTMENT TRUST (formerly First Union Funds)
on behalf of its Evergreen Managed Bond Fund, Evergreen Managed
Bond Fund and Evergreen U.S. Government Fund
for the fiscal year of such series ended June 30, 1995
Registration No. 2-94560; Investment Company File No.811-4154
Gentlemen:
In accordance with the provisions of Rule 24f-2, the Evergreen
Investment Trust (formerly First Union Funds) hereby files its Rule 24f-2 Notice
on behalf of three of its series, the Evergreen Fixed-Income Fund
("Fixed-Income"), Evergreen Managed Bond Fund ("Managed Bond") and Evergreen
U.S. Government Fund ("U.S. Government") (formerly First Union Fixed-Income
Portfolio, First Union Managed Bond Portfolio and First Union U.S. Government
Portfolio).
This "Rule 24f-2 Notice" is being filed for the fiscal year ending June
30, 1995 ("Fiscal Year") for the Fixed-Income, Managed Bond and U.S. Government
funds. These series previously had a December 31 fiscal year.
No Shares of Beneficial Interest of the Fixed-Income, Managed Bond or U.S.
Government funds which had previously been registered under the Securities
Act of 1933 (the "Securities Act") other than pursuant to the Regulation
remained unsold at the beginning of the Fiscal Year. No Shares of Beneficial
Interest of the Fixed-Income, Managed Bond or U.S. Government funds were
registered under the Securities Act during the Fiscal Year other than pursuant
to the Regulation.
During the Fiscal Year, the following shares of beneficial interest of the
Fixed-Income, Managed Bond and U.S. Government funds were sold: 6,966,814,
1,687,452 and 882,843, respectively; and the following number of shares of
beneficial interest of the Fixed-Income, Managed Bond and U.S. Government funds
were redeemed: 9,988,341, 4,141,272 and 3,134,602, respectively.
6,966,814, 1,687,452 and 882,843 shares of beneficial interest of the
Fixed-Income, Managed Bond and U.S. Government funds, respectively, were sold
during the Fiscal Year in reliance upon the registration of an indefinite amount
of securities under Rule 24f-2 ("24f-2 Declaration").
Attached to this Rule 24f-2 Notice, and made a part hereof, is an opinion
of counsel indicating that the securities, the registration of which the Notice
makes definite in number, were legally issued, fully paid, and non-assessable.
In accordance with subsection (c) of Rule 24f-2, no registration fees are
due on behalf of the Funds. The fee computations are based upon the actual
aggregate sale price for which such securities were sold during the Fiscal Year
by the Trust, reduced by the difference between:
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-2-
Securities and Exchange Commission August 29, 1995.
(1) The actual aggregate redemption price of the shares of Fixed-Income,
Managed Bond and U.S. Government redeemed by the Trust during the Fiscal
Year, and
(2) The actual aggregate redemption price of such redeemed shares
previously applied by the Trust on behalf of Fixed-Income, Managed Bond
and U.S. Government or any of its other series pursuant to Rule 24e-2(a)
in filings made pursuant to Section 24(e)(1) of the Investment Company
Act of 1940.
<TABLE>
<CAPTION>
Fixed-Income Managed Bond U.S. Government Total
<S> <C> <C> <C> <C>
Aggregate Sale Price for
Shares Sold During Fiscal
Year in Reliance upon the
24f-2 Declaration $68,117,536 $16,463,692 $8,426,054 $ 93,007,282
Reduced by the
Difference Between:
(1) Aggregate Redemption
Price of Shares
Redeemed During the
Fiscal Year ($97,874,977) ($40,222,694) ($29,247,164) ($167,334,835)
and
(2) Aggregate Redemption
Price of Redeemed
Shares Previously
Applied by Fund Pur-
suant to Rule 24e-2(a)
Filings Made Pursuant
to Section 24(e)(1)
of Investment Company
Act of 1940 $ 0 $ 0 $ 0 $ 0
Equals ($97,874,977) ($40,222,694) ($29,247,164) ($167,334,835)
Net aggregate proceeds
from sales and re-
demptions of Shares: ($29,757,441) ($23,759,002) ($20,821,110) ($ 74,337,553)
Fee pursuant to Sec.6(b) of
the Securities Act of 1933 / .0002900
-------------
$0
=============
Registration Fees
</TABLE>
Any questions regarding the matter should be addressed to Joseph J.
McBrien, Esquire at the above address.
Very truly yours,
EVERGREEN INVESTMENT TRUST
By: /s/ John J. Pileggi
-------------------------------
John J. Pileggi
President and Treasurer
[SEAL]
JAMES P. WALLIN, ESQ.
2500 WESTCHESTER AVENUE
Purchase, New York 10577
August 29, 1995
Evergreen Investment Trust
2500 Westchester Avenue
Purchase, New York 10577
Dear Sirs:
Evergreen Investment Trust, a Massachusetts business trust (the "Fund"), is
filing with the Securities and Exchange Commission a Rule 24f-2 notice
containing the information specified in paragraph (b)(1) of Rule 24f-2 under the
Investment Company Act of 1940 (the "Rule"). I have been advised that in its
Registration Statement on Form N-1A, the Fund filed the declaration authorized
by paragraph (a)(1) of the Rule to the effect that an indefinite number of
shares of beneficial interest of the Fund (the "Shares") were registered by the
Registration Statement. The effect of the Rule 24f-2 Notice, when accompanied by
the filing fee, if any, payable as prescribed by paragraph (c) of the Rule and
by this Opinion, will be to make definite in number the number of shares of
beneficial interest of the Fund sold by the Fund during the fiscal year ended
June 30, 1995 (formerly December 31) in reliance upon the Rule (the "Rule 24f-2
Shares").
I have, as counsel, participated in various proceedings relating to the
Fund and to the Rule 24f-2 Shares. I have examined copies, either certified or
otherwise proved to our satisfaction to be genuine, of the Fund's Declaration of
Trust, as now in effect, the minutes of meetings of the Trustees of the Fund and
other documents relating to the organization and operation of the Fund. I have
also reviewed the form of the Rule 24f-2 Notice being filed by the Fund. I am
generally familiar with the business affairs of the Fund.
The Fund has advised me that the Rule 24f-2 Shares were sold in the manner
contemplated by the prospectus of the Fund current at the time of sale, and that
the Rule 24f-2 Shares were sold for a consideration not less than the net asset
value thereof as required by the Investment Company Act of 1940 and not less
than the par value thereof.
Based upon the foregoing, it is my opinion that the Rule 24f-2 Shares were
legally issued and are fully paid and non-assessable. However, I note that as
set forth in the Registration Statement, the Fund's shareholders might, under
certain circumstances, be liable for transactions effected by the Fund.
I hereby consent to the filing of this Opinion with the Securities and
Exchange Commission together with the Rule 24f-2 Notice of the Fund, and to the
filing of this Opinion under the securities laws of any state.
I am a member of the Bar of the State of New York and do not hold
myself out as being conversant with the laws of any jurisdiction other than
those of the United States of America and the State of New York. I note that I
am not licensed to practice law in The Commonwealth of Massachusetts, and to
the extent that any opinion expressed herein involves the law of Massachusetts,
such opinion should be understood to be based solely upon my review of the
documents referred to above, the published statutes of that Commonwealth and,
where applicable, published cases, rules or regulations of regulatory bodies of
that Commonwealth.
Very truly yours,
/s/James P. Wallin
---------------------
James P. Wallin
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