The new fee will subsequently reduce the current effective management fee from 62 basis points to 30 basis points. Depending on the fund's performance in relation to the benchmark, it will range from a minimum of 15 basis points to a maximum of 45 basis points.
"There is a strong demand in the market today for products that offer broad market exposure as cost effectively as possible. The changes we are making further enhance the fund as a significant core holding within a shareholder's portfolio," said Dennis Ferro, president and chief executive officer of Evergreen Investments.
Other fee changes for the Evergreen Large Cap Equity Fund will also take effect. For sales of A shares of less than $50,000, the maximum sales charges will be lowered from 5.75% to 4.75%. The 12b-1-distribution fee will be lowered from 30 basis points to 25 basis points, and a new account minimum investment amount of $25,000 will be implemented for class A, B and C shares.
