The Evergreen Funds has introduced the Evergreen Premier 20 Fund, a concentrated equity mutual fund. The fund is a multi-cap, multi-sector portfolio with four share classes and it will invest in 20 to 40 stocks selected by four Evergreen managers, according to the company.

Evergreen is introducing the new fund for two reasons, according to Chad Peterson. There has been client interest in a concentrated equity portfolio that invests in multi-cap companies, he said. Currently, the only concentrated fund Evergreen offers is its Capital Growth Fund, which invests in large-cap stocks, he said.

"Also, over the last 5 years or so, there has been significant flows into concentrated funds," said Peterson. "We're trying to capture some of those assets."

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