The Wall Street Journal's Michael Pollack devoted today's Fund Track column to how the Evergreen Ultra Short Opportunities Fund managed not to get entangled in the subprime mess. Lisa Brown-Premo, who oversees mortgage-backed and structured products at Tattersall Advisory Group, a unit of Evergreen Investments, told Pollack that the fund held less than 10 percent in structured issues that were hardest hit by the crisis, and it also moved toward high-rated mortgage bonds. The fund likewise benefited from a wager that the yield curve would steepen; in addition, it held as much as 5 percent in bonds denominated in foreign currencies. The $947 million fund posted a 3.4 return this year through December 20, or one percentage point higher than the average return for its category.  

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