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Rating:How a Bond Fund Escaped the Subprime Mess Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, December 24, 2007

How a Bond Fund Escaped the Subprime Mess

by: Armie Margaret Lee

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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