OMB APPROVAL |
OMB Number: 3235-0578 |
|
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT
INVESTMENT COMPANY
Investment Company Act file number 811-22005
Evergreen Global Dividend Opportunity Fund
(Exact name of registrant as specified in charter)
200 Berkeley Street
Boston, Massachusetts 02116
(Address of principal executive offices) (Zip code)
Michael H. Koonce, Esq.
200 Berkeley Street
Boston, Massachusetts 02116
(Name and address of agent for service)
Registrant’s telephone number, including area code: (617) 210-3200
|
Date of fiscal year end: |
Registrant is making a quarterly filing for one of its series, Evergreen Global Dividend Opportunity Fund, for the quarter ended July 31, 2009. This series has October 31 fiscal year end. |
Date of reporting period: July 31, 2009
Item 1 - Schedule of Investments
EVERGREEN GLOBAL DIVIDEND OPPORTUNITY FUND |
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||||||||
July 31, 2009 (unaudited) |
|
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|
Country |
|
|
Shares |
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|
Value |
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COMMON STOCKS 56.9% |
|
|
|
|
|
|
|
|
|
CONSUMER DISCRETIONARY 3.7% |
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|
|
|
|
|
|
|
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Media 3.7% |
|
|
|
|
|
|
|
|
|
Mediaset SpA |
|
Italy |
|
|
3,075,600 |
|
$ |
18,597,638 |
|
ENERGY 1.5% |
|
|
|
|
|
|
|
|
|
Oil, Gas & Consumable Fuels 1.5% |
|
|
|
|
|
|
|
|
|
ENI SpA |
|
Italy |
|
|
100,000 |
|
|
2,327,514 |
|
Kayne Anderson MLP Investment Co. |
|
United States |
|
|
265,000 |
|
|
5,366,250 |
|
|
|
|
|
|
|
|
|
7,693,764 |
|
FINANCIALS 3.4% |
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|
|
|
|
|
|
|
|
Commercial Banks 1.8% |
|
|
|
|
|
|
|
|
|
Westpac Banking Corp. |
|
Australia |
|
|
500,000 |
|
|
9,070,213 |
|
Real Estate Investment Trusts (REITs) 1.6% |
|
|
|
|
|
|
|
|
|
Camden Property Trust |
|
United States |
|
|
25,000 |
|
|
737,750 |
|
Chimera Investment Corp. |
|
United States |
|
|
700,000 |
|
|
2,506,000 |
|
Invesco Mortgage Capital, Inc. |
|
United States |
|
|
232,300 |
|
|
4,646,000 |
|
|
|
|
|
|
|
|
|
7,889,750 |
|
INDUSTRIALS 2.0% |
|
|
|
|
|
|
|
|
|
Air Freight & Logistics 0.8% |
|
|
|
|
|
|
|
|
|
Deutsche Post AG |
|
Germany |
|
|
250,000 |
|
|
3,956,987 |
|
Construction & Engineering 1.2% |
|
|
|
|
|
|
|
|
|
Bouygues SA |
|
France |
|
|
150,000 |
|
|
6,389,261 |
|
TELECOMMUNICATION SERVICES 13.3% |
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|
|
|
|
|
|
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Diversified Telecommunication Services 8.6% |
|
|
|
|
|
|
|
|
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Deutsche Telekom AG |
|
Germany |
|
|
200,000 |
|
|
2,562,688 |
|
France Telecom |
|
France |
|
|
433,000 |
|
|
10,806,377 |
|
NTELOS Holdings Corp. |
|
United States |
|
|
100,000 |
|
|
1,549,000 |
|
Shenandoah Telecommunications Co. + |
|
United States |
|
|
368,600 |
|
|
7,504,696 |
|
Tele2 AB, Ser. B |
|
Sweden |
|
|
999,952 |
|
|
13,455,563 |
|
Telstra Corp., Ltd. |
|
Australia |
|
|
2,500,000 |
|
|
7,380,787 |
|
|
|
|
|
|
|
|
|
43,259,111 |
|
Wireless Telecommunication Services 4.7% |
|
|
|
|
|
|
|
|
|
Vivo Participacoes SA, ADS |
|
Brazil |
|
|
14,706 |
|
|
334,855 |
|
Vodafone Group plc |
|
United Kingdom |
|
|
9,000,000 |
|
|
18,446,782 |
|
Vodafone Group plc, ADR |
|
United Kingdom |
|
|
250,000 |
|
|
5,145,000 |
|
|
|
|
|
|
|
|
|
23,926,637 |
|
UTILITIES 33.0% |
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|
|
|
|
|
|
|
|
Electric Utilities 15.4% |
|
|
|
|
|
|
|
|
|
Enel SpA |
|
Italy |
|
|
5,000,100 |
|
|
27,170,312 |
|
FirstEnergy Corp. |
|
United States |
|
|
150,000 |
|
|
6,180,000 |
|
Fortum Oyj |
|
Finland |
|
|
400,000 |
|
|
9,264,446 |
|
FPL Group, Inc. |
|
United States |
|
|
150,000 |
|
|
8,500,500 |
|
Hera SpA |
|
Italy |
|
|
4,000,000 |
|
|
9,863,072 |
|
Iberdrola SA |
|
Spain |
|
|
500,000 |
|
|
4,290,151 |
|
Maine & Maritimes Corp. |
|
United States |
|
|
18,500 |
|
|
666,000 |
|
Red Electrica de Espana SA |
|
Spain |
|
|
100,000 |
|
|
4,699,212 |
|
TERNA SpA |
|
Italy |
|
|
2,000,000 |
|
|
7,048,105 |
|
|
|
|
|
|
|
|
|
77,681,798 |
|
Gas Utilities 1.2% |
|
|
|
|
|
|
|
|
|
Enagas SA |
|
Spain |
|
|
300,000 |
|
|
5,932,809 |
|
Independent Power Producers & Energy Traders 1.4% |
|
|
|
|
|
|
|
|
|
Constellation Energy Group, Inc. |
|
United States |
|
|
239,100 |
|
|
6,862,170 |
|
|
1 |
EVERGREEN GLOBAL DIVIDEND OPPORTUNITY FUND |
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||||||||
July 31, 2009 (unaudited) |
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|
Country |
|
|
Shares |
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|
Value |
|
COMMON STOCKS continued |
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UTILITIES continued |
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|
|
|
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Multi-Utilities 11.6% |
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|
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|
|
|
|
|
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National Grid plc |
|
United Kingdom |
|
|
3,500,000 |
|
$ |
32,653,126 |
|
RWE AG |
|
Germany |
|
|
100,000 |
|
|
8,444,899 |
|
SCANA Corp. |
|
United States |
|
|
50,000 |
|
|
1,767,500 |
|
Suez Environnement SA * |
|
France |
|
|
100,000 |
|
|
1,905,625 |
|
United Utilities Group plc |
|
United Kingdom |
|
|
1,849,999 |
|
|
13,929,668 |
|
|
|
|
|
|
|
|
|
58,700,818 |
|
Water Utilities 3.4% |
|
|
|
|
|
|
|
|
|
American States Water Co. |
|
United States |
|
|
30,700 |
|
|
1,115,945 |
|
American Water Works Co. |
|
United States |
|
|
326,000 |
|
|
6,425,460 |
|
Pennichuck Corp. + |
|
United States |
|
|
55,000 |
|
|
1,262,250 |
|
Severn Trent plc |
|
United Kingdom |
|
|
500,000 |
|
|
8,089,155 |
|
|
|
|
|
|
|
|
|
16,892,810 |
|
Total Common Stocks (cost $330,485,897) |
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|
|
|
|
|
|
286,853,766 |
|
PREFERRED STOCKS 38.0% |
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|
|
|
|
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|
|
FINANCIALS 10.1% |
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|
|
|
|
|
|
|
|
Capital Markets 0.7% |
|
|
|
|
|
|
|
|
|
Credit Suisse Group AG, Var. Rate Pfd. |
|
United Kingdom |
|
|
138,000 |
|
|
3,426,885 |
|
Commercial Banks 6.8% |
|
|
|
|
|
|
|
|
|
Barclays plc, 8.125% |
|
United Kingdom |
|
|
100,000 |
|
|
2,290,000 |
|
BB&T Capital Trust, Ser. VI, 9.60% |
|
United States |
|
|
100,000 |
|
|
2,570,000 |
|
National Bank of Greece SA, 9.00% |
|
United States |
|
|
50,000 |
|
|
1,175,000 |
|
National City Capital Trust II, 6.625% |
|
United States |
|
|
100,000 |
|
|
2,021,250 |
|
National City Capital Trust IV, 8.00% |
|
United States |
|
|
9,800 |
|
|
227,752 |
|
Santander Bancorp, 6.50% |
|
Spain |
|
|
200,000 |
|
|
4,422,500 |
|
Santander Bancorp, Ser. 6, Var. Rate Pfd. |
|
Spain |
|
|
464,000 |
|
|
6,900,840 |
|
SunTrust Capital IX, 7.875% |
|
United States |
|
|
434,200 |
|
|
9,647,924 |
|
Wells Fargo Capital XII, 7.875% ° |
|
United States |
|
|
200,000 |
|
|
4,978,000 |
|
|
|
|
|
|
|
|
|
34,233,266 |
|
Consumer Finance 0.8% |
|
|
|
|
|
|
|
|
|
Deutsche Bank Contingent Capital Trust II, 6.55% |
|
United States |
|
|
110,000 |
|
|
2,170,300 |
|
Fifth Third Capital Trust VII, Var. Rate Pfd. |
|
United States |
|
|
72,000 |
|
|
1,670,580 |
|
|
|
|
|
|
|
|
|
3,840,880 |
|
Diversified Financial Services 1.6% |
|
|
|
|
|
|
|
|
|
Bank of America Corp., Ser. MER, 8.625% |
|
United States |
|
|
174,500 |
|
|
3,967,258 |
|
ING Groep NV, 8.50% |
|
Netherlands |
|
|
75,000 |
|
|
1,633,500 |
|
JPMorgan Chase Capital XXVI, Var. Rate Pfd. |
|
United States |
|
|
100,000 |
|
|
2,556,250 |
|
|
|
|
|
|
|
|
|
8,157,008 |
|
Insurance 0.2% |
|
|
|
|
|
|
|
|
|
Prudential Financial, Inc., 9.00% |
|
United States |
|
|
48,000 |
|
|
1,201,440 |
|
MATERIALS 0.4% |
|
|
|
|
|
|
|
|
|
Chemicals 0.4% |
|
|
|
|
|
|
|
|
|
E.I. DuPont de Nemours & Co., 4.50% |
|
United States |
|
|
22,700 |
|
|
1,779,226 |
|
UTILITIES 27.5% |
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|
|
|
|
|
|
|
|
Electric Utilities 24.7% |
|
|
|
|
|
|
|
|
|
Alabama Power Co., 5.625% |
|
United States |
|
|
80,000 |
|
|
1,587,504 |
|
Baltimore Gas & Electric Co., 7.125% |
|
United States |
|
|
50,000 |
|
|
4,533,262 |
|
Carolina Power & Light Co., 5.00% |
|
United States |
|
|
11,217 |
|
|
819,104 |
|
Central Maine Power Co., 4.75% |
|
United States |
|
|
7,900 |
|
|
591,099 |
|
Connecticut Light & Power Co., Ser. 1947, 2.00% |
|
United States |
|
|
18,230 |
|
|
575,955 |
|
Connecticut Light & Power Co., Ser. 1949, 2.04% |
|
United States |
|
|
9,600 |
|
|
309,300 |
|
Connecticut Light & Power Co., Ser. 1949, 2.20% |
|
United States |
|
|
36,625 |
|
|
1,272,719 |
|
2 |
|
EVERGREEN GLOBAL DIVIDEND OPPORTUNITY FUND |
|
||||||||
July 31, 2009 (unaudited) |
|
|
|
|
|
|
|
|
|
|
|
Country |
|
|
Shares |
|
|
Value |
|
PREFERRED STOCKS continued |
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|
|
|
|
|
|
|
|
UTILITIES continued |
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|
|
|
|
|
|
|
|
Electric Utilities continued |
|
|
|
|
|
|
|
|
|
Connecticut Light & Power Co., Ser. 1963, 4.50% |
|
United States |
|
|
66,124 |
|
$ |
2,332,941 |
|
Connecticut Light & Power Co., Ser. 1967, 5.28% |
|
United States |
|
|
59,300 |
|
|
2,377,562 |
|
Connecticut Light & Power Co., Ser. F, 2.09% |
|
United States |
|
|
6,000 |
|
|
204,000 |
|
Consolidated Edison, Inc., Ser. A, 5.00% |
|
United States |
|
|
83,270 |
|
|
7,386,049 |
|
Consolidated Edison, Inc., Ser. D, 4.65% |
|
United States |
|
|
62,505 |
|
|
4,569,055 |
|
Dayton Power & Light Co., Ser. A, 3.75% |
|
United States |
|
|
9,416 |
|
|
660,297 |
|
Dayton Power & Light Co., Ser. B, 3.75% |
|
United States |
|
|
5,120 |
|
|
356,466 |
|
Dayton Power & Light Co., Ser. C, 3.90% |
|
United States |
|
|
17,500 |
|
|
1,190,529 |
|
Dominion Resources Inc., Ser. A, 8.375%, 06/15/2014 |
|
United States |
|
|
125,000 |
|
|
3,317,625 |
|
Duquesne Light Co., 6.50% |
|
United States |
|
|
130,000 |
|
|
6,101,671 |
|
Energy East Corp., 3.75% |
|
United States |
|
|
1,900 |
|
|
123,621 |
|
Entergy Arkansas, Inc., 4.32% |
|
United States |
|
|
7,565 |
|
|
538,922 |
|
Entergy Arkansas, Inc., 4.56% |
|
United States |
|
|
2,732 |
|
|
178,393 |
|
Entergy Arkansas, Inc., 4.72% |
|
United States |
|
|
500 |
|
|
34,498 |
|
Entergy Arkansas, Inc., 6.08% |
|
United States |
|
|
8,444 |
|
|
745,183 |
|
Entergy Arkansas, Inc., 6.45% |
|
United States |
|
|
800,000 |
|
|
16,275,040 |
|
Entergy Arkansas, Inc., Ser. 1965, 4.56% |
|
United States |
|
|
3,578 |
|
|
249,528 |
|
Entergy Louisiana Holdings, 6.95% |
|
United States |
|
|
177,000 |
|
|
15,349,228 |
|
Entergy Mississippi, Inc., 4.36% |
|
United States |
|
|
3,248 |
|
|
224,620 |
|
Entergy Mississippi, Inc., 4.56% |
|
United States |
|
|
500 |
|
|
34,163 |
|
Entergy Mississippi, Inc., 4.92% |
|
United States |
|
|
10,679 |
|
|
806,491 |
|
Entergy Mississippi, Inc., 7.25% |
|
United States |
|
|
89 |
|
|
2,253 |
|
Entergy New Orleans, Inc., 4.36% |
|
United States |
|
|
153 |
|
|
11,011 |
|
Entergy New Orleans, Inc., 4.75% |
|
United States |
|
|
6,102 |
|
|
437,001 |
|
Entergy New Orleans, Inc., 5.56% |
|
United States |
|
|
7,522 |
|
|
610,607 |
|
Entergy Texas, Inc., 7.875% |
|
United States |
|
|
60,000 |
|
|
1,569,000 |
|
Exelon Corp., 3.80% |
|
United States |
|
|
18,225 |
|
|
1,182,347 |
|
Exelon Corp., 4.68% |
|
United States |
|
|
18,240 |
|
|
1,413,691 |
|
Florida Power Corp., 4.60% |
|
United States |
|
|
14,900 |
|
|
1,138,454 |
|
FPL Group, Inc., Ser. F, 8.75% |
|
United States |
|
|
12,000 |
|
|
332,400 |
|
Georgia Power Co., Ser. 07-A, 6.50% |
|
United States |
|
|
15,900 |
|
|
1,445,085 |
|
Hawaiian Electric Industries, Inc., Ser. J, 4.75% 144A |
|
United States |
|
|
55,000 |
|
|
745,937 |
|
Hawaiian Electric Industries, Inc., Ser. K, 4.65% |
|
United States |
|
|
27,000 |
|
|
360,283 |
|
Indianapolis Power & Light Co., 4.20% |
|
United States |
|
|
20,000 |
|
|
1,474,376 |
|
Interstate Power & Light Co., Ser. C, 7.10% |
|
United States |
|
|
362,700 |
|
|
9,198,979 |
|
MidAmerican Energy Co., 4.35% |
|
United States |
|
|
13,017 |
|
|
966,920 |
|
Pacific Gas & Electric Co., 4.80% |
|
United States |
|
|
185,600 |
|
|
3,787,168 |
|
Pacific Gas & Electric Co., Ser. D, 5.00% |
|
United States |
|
|
126,000 |
|
|
2,633,400 |
|
Pacific Gas & Electric Co., Ser. I, 4.36% |
|
United States |
|
|
39,900 |
|
|
747,925 |
|
PECO Energy Co., Ser. C, 4.40% |
|
United States |
|
|
29,940 |
|
|
2,226,189 |
|
PPL Electric Utilities Corp., 6.25% |
|
United States |
|
|
165,000 |
|
|
3,846,562 |
|
South Carolina Electric & Gas Co., 5.00% |
|
United States |
|
|
2,000 |
|
|
95,760 |
|
Southern California Edison Co., Ser. B, 4.08% |
|
United States |
|
|
48,100 |
|
|
873,015 |
|
Southern California Edison Co., Ser. B, 6.125% |
|
United States |
|
|
10,000 |
|
|
783,125 |
|
Southern California Edison Co., Ser. C, 6.00% |
|
United States |
|
|
10,000 |
|
|
770,000 |
|
Southern California Edison Co., Ser. D, 4.32% |
|
United States |
|
|
85,000 |
|
|
1,583,125 |
|
Union Electric Co., 4.50% |
|
United States |
|
|
14,600 |
|
|
1,007,400 |
|
Union Electric Co., 4.56% |
|
United States |
|
|
11,190 |
|
|
741,337 |
|
Union Electric Co., 5.50% |
|
United States |
|
|
973 |
|
|
76,867 |
|
Union Electric Co., 7.64% |
|
United States |
|
|
21,350 |
|
|
2,050,268 |
|
Union Electric Co., Ser. 1969, 4.00% |
|
United States |
|
|
7,600 |
|
|
480,700 |
|
Wisconsin Public Service Corp., 5.08% |
|
United States |
|
|
8,190 |
|
|
674,651 |
|
Xcel Energy, Inc., 3.60% |
|
United States |
|
|
6,000 |
|
|
385,800 |
|
Xcel Energy, Inc., 4.10% |
|
United States |
|
|
52,320 |
|
|
4,005,750 |
|
Xcel Energy, Inc., 4.16% |
|
United States |
|
|
35,180 |
|
|
2,660,663 |
|
Xcel Energy, Inc., 4.56% |
|
United States |
|
|
19,880 |
|
|
1,510,880 |
|
|
|
|
|
|
|
|
|
124,573,754 |
|
|
3 |
EVERGREEN GLOBAL DIVIDEND OPPORTUNITY FUND |
|
||||||||
July 31, 2009 (unaudited) |
|
|
|
|
|
|
|
|
|
|
|
Country |
|
|
Shares |
|
|
Value |
|
PREFERRED STOCKS continued |
|
|
|
|
|
|
|
|
|
UTILITIES continued |
|
|
|
|
|
|
|
|
|
Gas Utilities 1.8% |
|
|
|
|
|
|
|
|
|
Pacific Enterprises, 4.40% |
|
United States |
|
|
19,840 |
|
$ |
1,525,821 |
|
Public Service Electric & Gas Co., 4.08% |
|
United States |
|
|
8,970 |
|
|
658,846 |
|
Public Service Electric & Gas Co., 4.18% |
|
United States |
|
|
1,260 |
|
|
90,670 |
|
Public Service Electric & Gas Co., 5.28% |
|
United States |
|
|
5,625 |
|
|
502,453 |
|
Southern Union Co., 7.55% |
|
United States |
|
|
255,550 |
|
|
6,328,057 |
|
|
|
|
|
|
|
|
|
9,105,847 |
|
Independent Power Producers & Energy Traders 0.9% |
|
|
|
|
|
|
|
|
|
Constellation Energy Group, Inc., Ser. A, 8.625% |
|
United States |
|
|
187,214 |
|
|
4,483,775 |
|
Water Utilities 0.1% |
|
|
|
|
|
|
|
|
|
Hackensack Water Co., 4.99% o |
|
United States |
|
|
10,469 |
|
|
732,830 |
|
Total Preferred Stocks (cost $182,967,357) |
|
|
|
|
|
|
|
191,534,911 |
|
CONVERTIBLE PREFERRED STOCKS 1.3% |
|
|
|
|
|
|
|
|
|
ENERGY 0.7% |
|
|
|
|
|
|
|
|
|
Oil, Gas & Consumable Fuels 0.7% |
|
|
|
|
|
|
|
|
|
El Paso Corp., 4.99%, 12/31/2049 144A |
|
United States |
|
|
4,000 |
|
|
3,511,000 |
|
UTILITIES 0.6% |
|
|
|
|
|
|
|
|
|
Electric Utilities 0.6% |
|
|
|
|
|
|
|
|
|
Great Plains Energy, Inc., 12.00%, 06/12/2012 |
|
United States |
|
|
50,000 |
|
|
2,923,250 |
|
Total Convertible Preferred Stocks (cost $5,220,560) |
|
|
|
|
|
|
|
6,434,250 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Country |
|
|
Principal |
|
|
Value |
|
CORPORATE BONDS 0.5% |
|
|
|
|
|
|
|
|
|
UTILITIES 0.5% |
|
|
|
|
|
|
|
|
|
Multi-Utilities 0.5% |
|
|
|
|
|
|
|
|
|
PG&E Corp., 5.75%, 04/01/2014 (cost $1,989,862) |
|
United States |
|
$ |
2,000,000 |
|
|
2,184,120 |
|
YANKEE OBLIGATIONS – CORPORATE 0.6% |
|
|
|
|
|
|
|
|
|
TELECOMMUNICATION SERVICES 0.6% |
|
|
|
|
|
|
|
|
|
Diversified Telecommunication Services 0.6% |
|
|
|
|
|
|
|
|
|
Vodafone Group plc, 4.15%, 06/10/2014 (cost $2,998,044) |
|
United Kingdom |
|
|
3,000,000 |
|
|
3,061,422 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Country |
|
|
Shares |
|
|
Value |
|
SHORT-TERM INVESTMENTS 4.0% |
|
|
|
|
|
|
|
|
|
MUTUAL FUND SHARES 4.0% |
|
|
|
|
|
|
|
|
|
Evergreen Institutional Money Market Fund, Class I, 0.22% q ø (cost $20,152,243) |
United States |
|
|
20,152,243 |
|
|
20,152,243 |
|
|
Total Investments (cost $543,813,963) 101.3% |
|
|
|
|
|
|
|
510,220,712 |
|
Other Assets and Liabilities (1.3%) |
|
|
|
|
|
|
|
(6,305,559 |
) |
Net Assets 100.0% |
|
|
|
|
|
|
$ |
503,915,153 |
|
|
+ |
Security is deemed illiquid. |
|
* |
Non-income producing security |
|
° |
Security represents an investment in a non-controlled affiliate. At July 31, 2009, the Fund invested in securities issued by Wells Fargo & Co. with a cost basis of $5,000,000 and earned $295,313 of income for the period from November 1, 2008 to July 31, 2009. |
|
144A |
Security that may be sold to qualified institutional buyers under Rule 144A of the Securities Act of 1933, as amended. This security has been determined to be liquid under guidelines established by the Board of Trustees, unless otherwise noted. |
|
o |
Security is valued at fair value as determined by the investment advisor in good faith, according to procedures approved by the Board of Trustees. |
|
q |
Rate shown is the 7-day annualized yield at period end. |
|
ø |
Evergreen Investment Management Company, LLC is the investment advisor to both the Fund and the money market fund. |
4 |
|
EVERGREEN GLOBAL DIVIDEND OPPORTUNITY FUND |
|
||||||||
July 31, 2009 (unaudited) | |||||||||
Summary of Abbreviations
ADR |
American Depository Receipt |
ADS |
American Depository Shares |
The following table shows the percent of total long-term investments by geographic location as of July 31, 2009:
United States |
|
48.2 |
% |
United Kingdom |
|
17.7 |
% |
Italy |
|
13.3 |
% |
Spain |
|
5.4 |
% |
France |
|
3.9 |
% |
Australia |
|
3.4 |
% |
Germany |
|
3.1 |
% |
Sweden |
|
2.7 |
% |
Finland |
|
1.9 |
% |
Netherlands |
|
0.3 |
% |
Brazil |
|
0.1 |
% |
|
|
100.0 |
% |
Open call options written as of July 31, 2009 were as follows:
Expiration |
|
Index |
|
Number of |
|
Strike |
|
Market |
|
Premiums |
||
08/21/2009 |
|
CAC 40 Index |
|
480 |
|
|
3,381 EUR |
|
$ |
(695,070) o |
|
$213,621 |
08/21/2009 |
|
DAX Index |
|
310 |
|
|
5,237 EUR |
|
|
(2,130,080) o |
|
121,002 |
08/21/2009 |
|
Dow Jones EURO STOXX 50 Index |
|
313 |
|
|
2,591 EUR |
|
|
(394,337) o |
|
118,731 |
08/21/2009 |
|
NASDAQ 100 Index |
|
138 |
|
|
1,691 USD |
|
|
(100,050) o |
|
100,050 |
08/21/2009 |
|
Russell 2000 Index |
|
400 |
|
|
587 USD |
|
|
(170,000) o |
|
170,000 |
08/21/2009 |
|
S&P 400 Mid Cap Index |
|
356 |
|
|
661 USD |
|
|
(132,254) o |
|
132,254 |
08/21/2009 |
|
SPDR S&P 500 Index |
|
2,311 |
|
|
98 USD |
|
|
(581,656) o |
|
182,037 |
08/21/2009 |
|
UKX Index |
|
304 |
|
|
4,606 GBP |
|
|
(410,773) o |
|
128,573 |
|
o |
Valued at fair value as determined by the investment advisor using third party modeling tools, according to procedures approved by the Board of Trustees. |
On July 31, 2009, the aggregate cost of securities for federal income tax purposes was $548,115,452. The gross unrealized appreciation and depreciation on securities based on tax cost was $24,901,030 and $62,795,770, respectively, with a net unrealized depreciation of $37,894,740.
Valuation of investments
Listed equity securities are usually valued at the last sales price or official closing price on the national securities exchange where the securities are principally traded. If there has been no sale, the securities are valued at the mean between bid and asked prices. Non-listed equity securities are valued using evaluated prices determined by an independent pricing service which takes into consideration such factors as similar security prices, spreads, liquidity, benchmark quotes and market conditions. Securities for which valuations are not readily available from an independent pricing service may be valued by brokers who use prices provided by market makers or estimates of market value obtained from yield data relating to investments or securities with similar characteristics.
Foreign securities traded on an established exchange are valued at the last sales price on the exchange where the security is primarily traded. If there has been no sale, the securities are valued at the mean between bid and asked prices. Foreign securities may be valued at fair value according to procedures approved by the Board of Trustees if the closing price is not reflective of current market values due to trading or events occurring in the foreign markets between the close of the established exchange and the valuation time of the Fund. In addition, substantial changes in values in the U.S. markets subsequent to the close of a foreign market may also affect the values of securities traded in the foreign market. The value of foreign securities may be adjusted if such movements in the U.S. market exceed a specified threshold.
Portfolio debt securities acquired with more than 60 days to maturity are fair valued using matrix pricing methods determined by an independent pricing service which takes into consideration such factors as similar security prices, yields, maturities, liquidity and ratings. Securities for which valuations are not readily available from an independent pricing service may be valued by brokers which use prices provided by market makers or estimates of fair market value obtained from yield data relating to investments or securities with similar characteristics.
Investments in open-end mutual funds are valued at net asset value. Securities for which market quotations are not readily available or not reflective of current fair value are valued at fair value as determined by the investment advisor in good faith, according to procedures approved by the Board of Trustees.
The valuation techniques used by the Fund to measure fair value are consistent with the market approach, income approach and/or cost approach, where applicable, for each security type.
Foreign currency translation
All assets and liabilities denominated in foreign currencies are translated into U.S. dollar amounts at the date of valuation. Purchases and sales of portfolio securities and income items denominated in foreign currencies are translated into U.S. dollar amounts on the respective dates of such transactions. The Fund does not separately account for that portion of the results of operations resulting from changes in foreign exchange rates on investments and the fluctuations arising from changes in market prices of securities held. Such fluctuations are included with the net realized and unrealized gains or losses on investments comparison to what was sold to the counterparty at redelivery or if there are variances in paydown speed between the mortgage-related pools.
|
5 |
EVERGREEN GLOBAL DIVIDEND OPPORTUNITY FUND |
|
||||||||
July 31, 2009 (unaudited) |
|||||||||
Options
The Fund is subject to interest rate risk, equity price risk and foreign currency exchange rate risk in the normal course of pursuing its investment objectives. The Fund may write covered put or call options. When a Fund writes an option, an amount equal to the premium received is recorded as a liability and is subsequently adjusted to the current market value of the written option. Premiums received from written options, which expire unexercised, are recognized as realized gains from investments on the expiration date. The difference between the premium received and the amount paid on effecting a closing purchase transaction, including brokerage commissions, is treated as a realized gain or loss. If a call option is exercised, the premium is added to the proceeds from the sale of the underlying security in calculating the realized gain or loss on the sale. If a put option is exercised, the premium reduces the cost of the security purchased. The Fund, as a writer of an option, bears the market risk of an unfavorable change in the price of the security underlying the written option.
The Fund may also purchase call or put options. The premium is included in the Statement of Assets and Liabilities as an investment which is subsequently adjusted to the current market value of the option. Premiums paid for purchased options which expire are recognized as realized losses from investments on the expiration date. Premiums paid for purchased options which are exercised or closed are added to the amount paid or offset against the proceeds on the underlying security to determine the realized gain or loss. The risk of loss associated with purchased options is limited to the premium paid.
Options traded on an exchange are regulated and terms of the options are standardized. Options traded over the counter expose the Fund to counterparty risk in the event the counterparty does not perform. This risk is mitigated by having a master netting arrangement between the Fund and the counterparty and by having the counterparty post collateral to cover the Fund’s exposure to the counterparty.
Valuation hierarchy
On November 1, 2008, the Fund implemented Statement of Financial Accounting Standards No. 157, Fair Value Measurements (“FAS 157”). FAS 157 establishes a single authoritative definition of fair value, establishes a framework for measuring fair value and expands disclosures about fair value measurements. FAS 157 establishes a fair value hierarchy based upon the various inputs used in determining the value of the Fund’s investments. These inputs are summarized into three broad levels as follows:
Level 1 – quoted prices in active markets for identical securities Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.) Level 3 – significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments) |
The inputs or methodologies used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.
Investments in Securities |
|
Quoted Prices |
|
Significant |
|
Significant |
|
Total |
||||||||
Equity securities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common stocks |
|
$ |
286,853,766 |
|
|
$ |
0 |
|
|
|
$ |
0 |
|
|
$ |
286,853,766 |
Preferred stocks |
|
|
52,285,013 |
|
|
|
144,951,318 |
|
|
|
|
732,830 |
|
|
|
197,969,161 |
Corporate debt securities |
|
|
0 |
|
|
|
5,245,542 |
|
|
|
|
0 |
|
|
|
5,245,542 |
Short-term investments |
|
|
20,152,243 |
|
|
|
0 |
|
|
|
|
0 |
|
|
|
20,152,243 |
|
|
$ |
359,291,022 |
|
|
$ |
150,196,860 |
|
|
|
$ |
732,830 |
|
|
$ |
510,220,712 |
As of July 31, 2009, the inputs used in valuing the Fund’s other financial instruments, which are carried at fair value, were as follows:
|
|
Quoted Prices |
|
Significant |
|
Significant |
|
Total |
Other financial instruments* |
|
$0 |
|
$(4,614,220) |
|
$0 |
|
$(4,614,220) |
|
* |
Other financial instruments include options. |
|
|
Preferred |
|
|
Balance as of November 1, 2008 |
|
$ |
0 |
|
Realized gains or losses |
|
|
0 |
|
Change in unrealized gains or losses |
|
|
0 |
|
Net purchases (sales) |
|
|
0 |
|
Transfers in and/or out of Level 3 |
|
|
732,830 |
|
Balance as of July 31, 2009 |
|
$ |
732,830 |
|
Change in unrealized gains or losses included in earnings relating to securities still held at July 31, 2009 |
|
$ |
0 |
|
6 |
|
Item 2 - Controls and Procedures
|
(a) |
The registrant’s principal executive officer and principal financial officer have evaluated the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) within 90 days of this filing and have concluded that the registrant’s disclosure controls and procedures were effective, as of that date, in ensuring that information required to be disclosed by the registrant in this Form N-Q was recorded, processed, summarized, and reported timely. |
|
(b) |
There has been no change in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) that occurred during the registrant’s last fiscal quarter that has materially affected, or is reasonable likely to materially affect, the registrant’s internal control over financial reporting. |
Item 3 - Exhibits
File the exhibits listed below as part of this Form. Letter or number the exhibits in the sequence indicated.
|
(a) |
Separate certifications for the registrant’s principal executive officer and principal financial officer, as required by Rule 30a-2(a) under the Investment Company Act of 1940, are attached as EX-99.CERT. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
|
Evergreen Global Dividend Opportunity Fund |
|
| ||
|
|
|
| ||
|
|
/s/ W. Douglas Munn |
|
|
|
|
|
W. Douglas Munn |
|
|
|
|
|
Principal Executive Officer |
|
|
|
Date: September 28, 2009
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
|
|
/s/ W. Douglas Munn |
|
|
|
|
|
W. Douglas Munn |
|
|
|
|
|
Principal Executive Officer |
|
|
|
Date: September 28, 2009
|
|
/s/ Jeremy DePalma |
|
|
|
|
|
Jeremy DePalma |
|
|
|
|
|
Principal Financial Officer |
|
|
|
Date: September 28, 2009