In the latest news of a full meltdown in the ultra-short bond fund sector, Wachovia Corp. subsidiary Evergreen Investments announced in a press release Thursday, "that the Board of Trustees of the Evergreen Funds approved a plan to liquidate Evergreen Ultra Short Opportunities Fund (EUBAX)." Shareholders of the $403 million fund will receive $7.48 a share. "Evergreen's parent company, Wachovia Corp., will provide financing for the liquidation which will occur on or about Thursday, June 26, 2008." Bloomberg wrote "Evergreen Liquidating Ultra-Short Fund After 18% Drop" and The Wall Street Journal wrote "Wachovia Liquidates Mortgage-Related Fund". See the "falling off the cliff" chart from Barchart.com.
