Fund Facts
Select an Evergreen closed-end fund to view that fund's fact sheet and to
find profile information such as, inception date, portfolio management,
objective and management philosophy.
Income Advantage Fund
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Inception Date
February 26, 2003
Portfolio Management
The Evergreen Income Advantage Fund is led by Andrew Cestone, managing director and head of Global High Yield at Evergreen Investments, and supported by a team of investment professionals. The team is supported by dedicated high yield credit analysts specializing in specific industries.
Objective
The fund seeks a high level of current income. As a secondary objective, the fund may also seek capital appreciation consistent with its investment objective.
Management Philosophy
Evergreen Income Advantage Fund will invest at least 80% of its assets in below investment-grade (high yield) debt securities, loans and preferred stocks, under normal market conditions. These securities are rated Ba or lower by Moody's Investors Service, Inc. or BB or lower by Standard & Poor's Ratings Group, or are unrated securities of comparable quality as determined by the fund's investment advisor.
Funds that invest in high yield, lower rated bonds may contain more risk due to the increased possibility of default. Closed-end funds do not continuously offer shares for sale as open-end mutual funds do; the shares trade on the secondary market after the Initial Public Offering and the price at which shares can be traded is then based on the market's value. A closed-end fund is not required to buy its shares back from investors upon request. Leveraging also involves higher risk.
The closed-end funds (CEFs) listed on this page are no longer offered as initial public offerings. Investors who wish to buy or sell fund shares of a CEF need to place orders through an intermediary, or broker, who will buy or sell fund shares on the stock exchange in a process identical to the purchase or sale of any other listed stock.