Filed Pursuant to Rule 497(e)
File Number 33-45315
[MENTOR INVESTMENT GROUP LOGO]
MENTOR FUNDS
Supplement to Prospectuses
dated December 15, 1998
Several changes to the Portfolios will be considered by shareholders at a
special meeting of shareholders in October 1999. These changes are being
proposed in connection with efforts to integrate the Mentor Family of Funds and
the Evergreen Family of Funds, both of which are managed by affiliates of First
Union National Bank.
1. CONVERSIONS INTO SERIES OF DELAWARE BUSINESS TRUSTS AND NAME CHANGES.
Shareholders will be asked to consider conversions of the Portfolios from
series of Mentor Funds, a Massachusetts business trust, into series of various
Evergreen Delaware business trusts. As part of the conversions, the Portfolios
also expect to change their names as follows:
<TABLE>
<S> <C>
Mentor Balanced Portfolio Evergreen Capital Balanced Fund
Mentor Growth Portfolio Evergreen Growth Fund
Mentor Capital Growth Portfolio Evergreen Capital Growth Fund
Mentor Quality Income Portfolio Evergreen Quality Income Fund
Mentor Perpetual Global Portfolio Evergreen Perpetual Global Fund
Mentor High Income Portfolio Evergreen High Income Fund
Mentor Income and Growth Evergreen Capital Income and
Portfolio Growth Fund
Mentor Municipal Income Portfolio Evergreen Municipal Income Fund
Mentor Short-Duration Income Evergreen Short-Duration Income
Portfolio Fund
</TABLE>
2. RECLASSIFICATION OF INVESTMENT OBJECTIVES AND STANDARDIZATION OF INVESTMENT
RESTRICTIONS. Shareholders will also be asked to consider the reclassification
of the Portfolios' investment objectives as non-fundamental (meaning they could
be altered without the approval of shareholders), and standardization of the
Portfolios' investment restrictions to bring them more closely in line with
those of the Evergreen Funds.
3. PORTFOLIO REORGANIZATIONS. Shareholders will also be asked to consider the
merger of three of the Portfolios into existing Evergreen Funds (or, in the
case of Mentor Income and Growth Portfolio, into the Evergreen Capital Balanced
Fund, the successor, following the proposed conversion, to Mentor Balanced
Portfolio), as follows: Mentor Municipal Income Portfolio would be merged into
Evergreen Municipal Bond Fund, Mentor Income and Growth Portfolio would be
merged into Evergreen Capital Balanced Fund, and Mentor Short-Duration Income
Portfolio would be merged into Evergreen Short Intermediate Fund. If approved,
these reorganizations would occur in March 2000.
Information about Mentor Balanced Portfolio is set forth in this Prospectus.
For information concerning any of the Evergreen Funds, please see the
appropriate Evergreen prospectus.
IF YOU WOULD LIKE ADDITIONAL INFORMATION CONCERNING ANY OF THE PORTFOLIOS OR
ANY EVERGREEN FUND, PLEASE CALL MENTOR SERVICES COMPANY, INC. AT
1-800-869-6042.
August 18, 1999
MK 1365
