Why has the Board recommended that shareholders approve the new subadvisory agreements with Evergreen Investments?
The Board has recommended that the Funds’ shareholders approve the new subadvisory agreements with Evergreen Investments because it has determined that the agreements are in the best interests of the Funds’ shareholders. The Board’s decision was based on several factors, including uncertainty about the continuity of services and personnel at New Star in light of a potential restructuring and/or acquisition of New Star’s parent company, the Funds’ underperformance while they were managed by New Star, and the rigorous and extensive analysis conducted by Wells Fargo Funds Management, LLC, in screening prospective subadvisors before its identification and recommendation of Evergreen Investments.
