Wachovia Evergreen Fund

Wachovia Evergreen Funds
- Huge Losses

If you were invested in the Wachovia Evergreen Fund, a poorly performing security that lost close to 20% of its original value between March and June 2008, you may be able to receive financial compensation for your losses. The Evergreen fund, which was touted by Wachovia as a way to earn steady income while still preserving your investment with little risk, was fully invested in shady sub-prime mortgage securities, which ultimately failed and cost the fund's investors hundreds of millions of dollars.

Evergreen Investments is the name of Wachovia’s investment management branch. The company’s Ultra Short Opportunities Fund lost most of its value just inside of three months time. On March 31, 2008, the fund had an estimated net asset value of $731.4 million. However, by June 19, 2008, the fund had tumbled to $403 million. An Evergreen representative quickly blamed the massive decline in value on “difficult market conditions.” Recently, Wachovia announced liquidation plans that included selling off Evergreen Ultra Short Opportunities Fund shares for $7.48.

Ultra-short funds, like the Evergreen fund, were promoted to investors as safe alternatives to money-market accounts that often provided higher returns because they took more risk. The Evergreen Ultra Short Opportunities Fund is listed under the following symbols: EUBAX, EUBBX, EUBCX and EUBIX.

If you were invested in Wachovia Evergreen Fund, it may be possible to regain some of your losses by filing a Wachovia Evergreen Fund lawsuit, through a securities fraud attorney.