OMB APPROVAL
 
 
OMB Number: 3235-0578

Expires: Feb. 28, 2006

Estimated average
burden hours per
response: 20.0
 

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     811-21331

Evergreen Managed Income 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 1 of its series, Evergreen Managed Income Fund, for the quarter ended January 31, 2005. These 1 series have an October 31 fiscal year end.

Date of reporting period:
January 31, 2005

Item 1 – Schedule of Investments

EVERGREEN MANAGED INCOME FUND
SCHEDULE OF INVESTMENTS
January 31, 2005 (unaudited)
  Principal
Amount		 Value

AGENCY MORTGAGE-BACKED COLLATERALIZED MORTGAGE OBLIGATIONS 4.9%		            

FIXED RATE 0.3%		    
FNMA, Ser. 2001-25, Class Z, 6.00%, 06/25/2031     $ 2,615,327   $ 2,669,289  
FLOATING-RATE 4.6%    
FHLMC:    
    Ser. 0196, Class A, 3.30%, 12/15/2021       427,166     427,501  
    Ser. 1500, Class FD, 3.71%, 05/15/2023       9,985,883     9,726,143  
    Ser. 2247, Class FC, 3.08%, 08/15/2030       2,288,267     2,304,510  
    Ser. 2390, Class FD, 2.93%, 12/15/2031       330,645     332,860  
    Ser. 2411, Class F, 3.03%, 02/15/2032       234,512     236,799  
FNMA:    
    Ser. 2000-45, Class F, 2.98%, 12/25/2030       2,138,303     2,150,496  
    Ser. 2001-24, Class FC, 3.13%, 04/25/2031       730,263     735,044  
    Ser. 2001-37, Class F, 3.03%, 08/25/2031       817,918     824,851  
    Ser. 2001-62, Class FC, 3.18%, 11/25/2031       1,049,236     1,059,766  
    Ser. 2002-77, Class FV, 2.98%, 12/18/2032       3,088,078     3,113,884  
    Ser. 2002-95, Class FK, 3.03%, 01/25/2033       8,392,952     8,523,429  
    Ser. 2003-W8, Class 3F2, 2.88%, 05/25/2042       1,733,158     1,736,810  
    Ser. G92-53, Class FA, 3.28%, 09/25/2022       3,826,050     3,880,564  
GNMA, Ser. 1997-13, Class F, 3.00%, 09/16/2027       4,140,204     4,166,063  
        39,218,720
             Total Agency Mortgage-Backed Collateralized Mortgage Obligations (cost $42,156,403)             41,888,009  

AGENCY MORTGAGE-BACKED PASS THROUGH SECURITIES 27.8%		    

FIXED-RATE 4.1%		    
FHLMC:    
    5.50%, TBA #       3,000,000     3,092,814  
    6.00%, TBA #       1,900,000     1,963,532  
    8.50%, 03/01/2030       293,785     324,519  
FNMA:    
    6.00%, 04/01/2033       2,204,891     2,277,920  
    6.00%, TBA #       10,500,000     10,844,526  
    6.50%, 11/01/2032       2,810,121     2,929,959  
    7.00%, 09/01/2031-08/01/2032       5,667,862     6,002,664  
    7.50%, 07/01/2032       550,987     593,635  
    8.00%, 06/01/2030       298,480     325,255  
GNMA:    
    6.50%, 06/15/2028       215,440     227,312  
    9.50%, 12/15/2009-04/15/2011       5,822,770     6,569,853  
        35,151,989

FLOATING-RATE 23.7%		    
FHLMC:    
    1.64%, 08/01/2030       1,515,383     1,584,206  
    3.08%, 12/01/2033 ##       23,952,790     24,308,940  
    3.36%, 06/01/2023       837,085     845,144  
    3.38%, 12/01/2026       233,272     234,656  
    3.42%, 10/01/2017       16,588     16,834  
    3.47%, 12/01/2022       64,402     64,716  
    3.57%, 06/01/2031       2,166,935     2,243,712  
    3.82%, 05/01/2019       21,489     21,598  
    3.83%, 03/01/2018       370,112     374,465  
    3.875%, 10/01/2024       57,188     58,507  
    3.93%, 08/01/2017       48,778     49,196  
    4.00%, 12/01/2018-10/01/2022       511,002     518,252  
    4.13%, 10/01/2030       1,604,879     1,689,943  
    4.17%, 07/01/2030       375,768     387,842  
    4.19%, 01/01/2030       332,633     343,551  
    4.22%, 05/01/2025       109,937     110,732  

[1]
EVERGREEN MANAGED INCOME FUND
SCHEDULE OF INVESTMENTS continued
January 31, 2005 (unaudited)
  Principal
Amount		 Value

AGENCY MORTGAGE-BACKED PASS THROUGH SECURITIES continued		            

FLOATING-RATE continued		    
FHLMC:    
    4.56%, 10/01/2033     $ 1,086,398   $ 1,137,794  
    4.58%, 06/01/2018       413,451     421,326  
    4.78%, 09/01/2032       3,033,478     3,156,763  
    5.43%, 06/01/2035       340,573     347,990  
    5.61%, 06/01/2028       297,392     301,458  
    5.99%, 01/01/2027       581,659     603,642  
FNMA:    
    2.87%, 07/01/2044       4,863,186     4,931,854  
    2.97%, 10/01/2034        3,876,569     4,015,552  
    3.06%, 10/01/2034       4,025,289     4,165,506  
    3.08%, 06/01/2040        3,314,652     3,374,493  
    3.08%, 12/01/2040       8,182,179     8,386,194  
    3.21%, 12/01/2017       1,680,834     1,709,718  
    3.40%, 04/01/2028-04/01/2034       9,293,898     9,676,258  
    3.43%, 04/01/2034        3,107,974     3,145,701  
    3.47%, 06/01/2033       3,809,301     3,987,788  
    3.75%, 12/01/2016       33,649     33,831  
    4.04%, 04/01/2034        8,717,053     9,040,621  
    4.05%, 10/01/2032       1,547,292     1,592,770  
    4.06%, 03/01/2035       9,805,282     10,164,253  
    4.16%, 07/01/2032       4,880,510     5,054,357  
    4.36%, 04/01/2034       5,389,752     5,613,689  
    4.46%, 01/01/2034        3,550,045     3,673,350  
    4.51%, 05/01/2033       4,960,439     5,010,963  
    4.52%, 11/01/2023       461,841     476,610  
    4.625%, 01/01/2017       135,637     136,759  
    4.66%, 07/01/2033       7,639,429     7,907,608  
    4.80%, 10/01/2033       635,157     643,451  
    4.88%, 08/01/2034       12,753,634     13,009,704  
    4.93%, 06/01/2033-12/01/2034       8,925,407     9,212,641  
    4.94%, 01/01/2034       1,357,885     1,385,281  
    4.96%, 04/01/2034        2,892,361     3,000,106  
    4.98%, 03/01/2033       515,800     527,692  
    4.99%, 12/01/2031       1,538,218     1,573,819  
    5.02%, 04/01/2033       6,229,589     6,629,267  
    5.02%, 03/01/2034        4,978,178     5,109,349  
    5.10%, 04/01/2025       588,238     601,617  
    5.11%, 12/01/2022       49,203     50,200  
    5.20%, 03/01/2034       3,413,238     3,502,260  
    5.41%, 09/01/2032       1,959,219     2,041,146  
    5.55%, 09/01/2024       13,722     13,868  
    5.58%, 03/01/2032       393,191     410,808  
    5.60%, 04/01/2031        1,827,743     1,874,366  
    5.61%, 02/01/2031       75,765     76,223  
    5.67%, 06/01/2031       401,879     417,710  
    6.00%, 05/01/2021-08/01/2021       111,538     113,787  
    6.18%, 02/01/2032       204,643     207,420  
    6.21%, 11/01/2024       940,200     984,176  
    6.25%, 04/01/2021       10,263     10,513  
    6.36%, 01/01/2033        2,520,866     2,621,266  
GNMA:    
    3.00%, 11/20/2030-10/20/2031       5,710,099     5,803,939  
    3.25%, 02/20/2029       2,364,152     2,401,411  

[2]
EVERGREEN MANAGED INCOME FUND
SCHEDULE OF INVESTMENTS continued
January 31, 2005 (unaudited)
  Principal
Amount		 Value

AGENCY MORTGAGE-BACKED PASS THROUGH SECURITIES continued		            

FLOATING-RATE continued		    
GNMA:    
    3.375%, 01/20/2027-03/20/2028     $ 1,043,000   $ 1,062,307  
    3.50%, 09/20/2030-02/20/2031       3,405,526     3,461,818  
    4.00%, 11/20/2030       852,425     878,518  
    4.50%, 10/20/2029       4,491,714     4,613,934  
        203,157,739
             Total Agency Mortgage-Backed Pass Through Securities (cost $237,773,206)             238,309,728  

AGENCY REPERFORMING MORTGAGE-BACKED PASS THROUGH SECURITIES 1.9%		    
FNMA:    
    Ser. 2001-T10, Class A2, 7.50%, 12/25/2041        939,996     1,004,433  
    Ser. 2002-T6, Class A4, 4.31%, 03/25/2041        3,502,906     3,591,587  
    Ser. 2003-W2, Class 2A8, 5.67%, 07/25/2042        700,000     720,521  
    Ser. 2003-W6, Class 3A, 6.50%, 09/25/2042       1,059,709     1,106,733  
    Ser. 2003-W6, Class F, 2.88%, 09/25/2042       9,783,605     9,830,723  
             Total Agency Reperforming Mortgage-Backed Pass Through Securities (cost $16,245,249)             16,253,997  

CORPORATE BONDS 68.4%		    

CONSUMER DISCRETIONARY 22.2%		    

Auto Components 2.2%		    
ArvinMeritor, Inc., 6.80%, 02/15/2009 þ       2,989,000     3,093,615  
Collins & Aikman Products Co.:    
    10.75%, 12/31/2011 þ       1,535,000     1,527,325  
    12.875%, 08/24/2012 144A þ       1,825,000     1,519,312  
Dura Operating Corp., Ser. B, 8.625%, 04/15/2012 þ       3,250,000     3,355,625  
RJ Tower Corp., 12.00%, 06/01/2013 þ •       4,400,000     2,409,000  
Tenneco Automotive, Inc., 8.625%, 11/15/2014 144A       5,600,000     5,852,000  
TRW Automotive, Inc., 10.125%, 02/15/2013       970,000     1,480,364  
              19,237,241
Hotels, Restaurants & Leisure 5.6%    
Ameristar Casinos, Inc., 10.75%, 02/15/2009       6,000,000     6,750,000  
Equinox Holdings, Inc., 9.00%, 12/15/2009 þ       4,635,000     4,936,275  
Gaylord Entertainment Co., 6.75%, 11/15/2014 144A       1,000,000     987,500  
Inn of the Mountain Gods Resort & Casino, 12.00%, 11/15/2010       3,000,000     3,510,000  
John Q. Hammons Hotels LP, Ser. B, 8.875%, 05/15/2012       6,000,000     6,780,000  
La Quinta Corp., 8.875%, 03/15/2011       4,000,000     4,435,000  
Mandalay Resort Group, Ser. B, 10.25%, 08/01/2007       5,000,000     5,675,000  
Premier Entertainment Biloxi LLC, 10.75%, 02/01/2012       3,000,000     3,270,000  
Venetian Casino Resort LLC, 11.00%, 06/15/2010       6,000,000     6,810,000  
Wynn Resorts, Ltd., 6.625%, 12/01/2014 144A       4,555,000     4,498,062  
        47,651,837
Household Durables 2.3%    
K. Hovnanian Enterprises, Inc., 6.375%, 12/15/2014 þ       1,600,000     1,644,000  
Meritage Homes Corp., 9.75%, 06/01/2011        6,000,000     6,660,000  
Technical Olympic USA, Inc., 10.375%, 07/01/2012       6,000,000     6,720,000  
WCI Communities, Inc., 10.625%, 02/15/2011       4,000,000     4,440,000  
        19,464,000
Leisure Equipment & Products 0.3%    
Riddell Bell Holdings, Inc., 8.375%, 10/01/2012 144A       2,485,000     2,571,975  
Media 8.2%    
AMC Entertainment, Inc., 8.625%, 08/15/2012 144A       4,570,000     4,981,300  
Cablevision Systems Corp., 8.00%, 04/15/2012 144A       7,000,000     7,595,000  
CCO Holdings LLC, 8.75%, 11/15/2013       3,000,000     3,060,000  
Charter Communications Holdings LLC, 8.625%, 04/01/2009 þ       5,700,000     4,588,500  

[3]
EVERGREEN MANAGED INCOME FUND
SCHEDULE OF INVESTMENTS continued
January 31, 2005 (unaudited)
  Principal
Amount		 Value

CORPORATE BONDS continued		            

CONSUMER DISCRETIONARY continued		    

Media continued		    
Cinemark USA, Inc.:    
    9.00%, 02/01/2013     $ 5,000,000   $ 5,625,000  
    Sr. Disc. Note, Step Bond, 0.00%, 03/15/2014 †       2,975,000     2,261,000  
Dex Media East LLC, 9.875%, 11/15/2009       5,500,000     6,187,500  
Emmis Communications Corp., 6.875%, 05/15/2012       3,000,000     3,090,000  
Houghton Mifflin Co., 9.875%, 02/01/2013 þ       5,500,000     5,761,250  
Jostens IH Corp., 7.625%, 10/01/2012 144A       3,035,000     3,103,287  
Loews Cineplex Entertainment Corp., 9.00%, 08/01/2014 144A       825,000     868,313  
Marquee Holdings, Inc., Sr. Disc. Note, Step Bond, 0.00%, 08/15/2014 144A †       5,100,000     3,493,500  
Mediacom LLC, 9.50%, 01/15/2013 þ       6,200,000     6,215,500  
PRIMEDIA, Inc., 8.875%, 05/15/2011       2,060,000     2,183,600  
Sinclair Broadcast Group, Inc., 8.00%, 03/15/2012       3,000,000     3,135,000  
WMG Holdings Corp., 6.91%, 12/15/2011 144A       3,625,000     3,679,375  
Young Broadcasting, Inc., 8.50%, 12/15/2008 þ       4,000,000     4,280,000  
        70,108,125
Specialty Retail 2.8%    
Aearo Co., 8.25%, 04/15/2012        720,000     745,200  
Affinity Group, Inc., 9.00%, 02/15/2012       2,245,000     2,413,375  
American Achievement Corp., 8.25%, 04/01/2012       1,845,000     1,928,025  
Da-Lite Screen Co., Inc., 9.50%, 05/15/2011       3,650,000     4,051,500  
FTD, Inc., 7.75%, 02/15/2014       3,000,000     3,127,500  
Group 1 Automotive, Inc., 8.25%, 08/15/2013       3,000,000     3,165,000  
Michaels Stores, Inc., 9.25%, 07/01/2009       362,000     386,888  
Tempur-Pedic, Inc., 10.25%, 08/15/2010       4,250,000     4,845,000  
United Auto Group, Inc., 9.625%, 03/15/2012       3,000,000     3,285,000  
        23,947,488
Textiles, Apparel & Luxury Goods 0.8%    
Warnaco Group, Inc., 8.875%, 06/15/2013       6,000,000     6,630,000  

CONSUMER STAPLES 2.9%		    

Food & Staples Retailing 0.5%		    
Rite Aid Corp., 8.125%, 05/01/2010       4,000,000     4,170,000  
Food Products 1.2%    
B&G Foods Holdings Corp., 8.00%, 10/01/2011       240,000     256,500  
Chiquita Brands International, Inc., 7.50%, 11/01/2014 144A       1,000,000     1,020,000  
Del Monte Foods Co.:    
    6.75%, 02/15/2015 144A #       685,000     695,275  
    8.625%, 12/15/2012       1,233,000     1,376,336  
Seminis Vegetable Seeds, Inc., 10.25%, 10/01/2013       5,920,000     7,104,000  
        10,452,111
Personal Products 0.5%    
Playtex Products, Inc., 8.00%, 03/01/2011       3,800,000     4,161,000  
Tobacco 0.7%    
Commonwealth Brands, Inc., 10.625%, 09/01/2008 144A       4,000,000     4,180,000  
North Atlantic Trading, Inc., 9.25%, 03/01/2012 þ       2,375,000     1,876,250  
        6,056,250

ENERGY 8.1%		    

Energy Equipment & Services 3.0%		    
Dresser, Inc., 9.375%, 04/15/2011       6,000,000     6,540,000  
Grant Prideco, Inc., 9.625%, 12/01/2007       6,000,000     6,720,000  
Gulfmark Offshore, Inc., 7.75%, 07/15/2014 144A       1,675,000     1,767,125  
Hornbeck Offshore Services, Inc., 6.125%, 12/01/2014 144A       850,000     852,125  

[4]
EVERGREEN MANAGED INCOME FUND
SCHEDULE OF INVESTMENTS continued
January 31, 2005 (unaudited)
  Principal
Amount		 Value

CORPORATE BONDS continued		            

ENERGY continued		    

Energy Equipment & Services continued		    
Parker Drilling Co., Ser. B, 10.125%, 11/15/2009     $ 3,000,000   $ 3,158,250  
SESI LLC, 8.875%, 05/15/2011 þ       6,000,000     6,555,000  
        25,592,500
Oil & Gas 5.1%    
Chesapeake Energy Corp.:    
    6.875%, 01/15/2016       3,500,000     3,657,500  
    9.00%, 08/15/2012       4,000,000     4,550,000  
El Paso Production Holdings Co., 7.75%, 06/01/2013       6,000,000     6,270,000  
Evergreen Resources, Inc., 5.875%, 03/15/2012       580,000     601,463  
Exco Resources, Inc., 7.25%, 01/15/2011       900,000     954,000  
Overseas Shipholding Group, Inc., 8.25%, 03/15/2013       6,000,000     6,630,000  
Pemex Project Funding Master Trust, 6.625%, 04/04/2010       2,500,000     3,644,024  
Petroleum Helicopters, Inc., 9.375%, 05/01/2009       4,000,000     4,360,000  
Premcor Refining Group, Inc.:    
    6.75%, 05/01/2014       3,350,000     3,525,875  
    9.50%, 02/01/2013       2,650,000     3,060,750  
Tesoro Petroleum Corp.:    
    8.00%, 04/15/2008       1,910,000     2,062,800  
    9.625%, 04/01/2012 þ       4,090,000     4,672,825  
        43,989,237

FINANCIALS 4.4%		    

Diversified Financial Services 0.9%		    
Borden US Finance Corp., 9.00%, 07/15/2014 144A       870,000     961,350  
Metris Companies, Inc., 10.125%, 07/15/2006 þ       3,500,000     3,600,625  
Qwest Capital Funding, Inc., 7.00%, 08/03/2009 þ       3,500,000     3,386,250  
        7,948,225
Insurance 0.7%    
Crum & Forster Holdings Corp., 10.375%, 06/15/2013       5,000,000     5,612,500  
Real Estate 2.8%    
Crescent Real Estate Equities, REIT, 9.25%, 04/15/2009       3,500,000     3,815,000  
HMH Properties, Inc., Ser. B, 7.875%, 08/01/2008       1,500,000     1,546,875  
Host Marriott LP, Ser. J, REIT, 7.125%, 11/01/2013 þ       5,525,000     5,842,688  
Omega Healthcare Investors, Inc., REIT:    
    6.95%, 08/01/2007       6,000,000     6,255,000  
    7.00%, 04/01/2014       550,000     558,250  
Thornburg Mortgage Asset Corp., REIT, 8.00%, 05/15/2013       6,000,000     6,390,000  
        24,407,813

HEALTH CARE 4.4%		    

Health Care Equipment & Supplies 1.2%		    
Norcross Safety Products LLC, Ser. B, 9.875%, 08/15/2011       6,000,000     6,690,000  
Universal Hospital Services, Inc., 10.125%, 11/01/2011       2,920,000     3,036,800  
        9,726,800
Health Care Providers & Services 2.5%    
Carriage Services, Inc., 7.875%, 01/15/2015 144A       665,000     689,106  
Coventry Health Care, Inc., 6.125%, 01/15/2015 144A       850,000     867,000  
Genesis Healthcare Corp., 8.00%, 10/15/2013       2,500,000     2,712,500  
HCA, Inc., 6.375%, 01/15/2015       1,225,000     1,238,327  
IASIS Healthcare Corp., 8.75%, 06/15/2014       2,075,000     2,246,187  
Select Medical Corp., 9.50%, 06/15/2009       3,877,000     4,143,544  
Service Corporation International, 6.75%, 04/01/2016       1,835,000     1,844,175  

[5]
EVERGREEN MANAGED INCOME FUND
SCHEDULE OF INVESTMENTS continued
January 31, 2005 (unaudited)
  Principal
Amount		 Value

CORPORATE BONDS continued		            

HEALTH CARE continued		    

Health Care Providers & Services continued		    
Team Health, Inc., 9.00%, 04/01/2012 þ     $ 3,400,000   $ 3,366,000  
Tenet Healthcare Corp., 9.875%, 07/01/2014 144A       4,125,000     4,300,313  
        21,407,152
Pharmaceuticals 0.7%    
Alpharma, Inc., 8.625%, 05/01/2011 144A       6,000,000     6,255,000  

INDUSTRIALS 6.5%		    

Aerospace & Defense 0.3%		    
Argo Tech Corp., 9.25%, 06/01/2011       665,000     731,500  
Moog, Inc., 6.25%, 01/15/2015       1,910,000     1,943,425  
        2,674,925
Commercial Services & Supplies 3.7%    
American Color Graphics, Inc., 10.00%, 06/15/2010       3,000,000     2,572,500  
Cenveo Corp., 7.875%, 12/01/2013 þ       3,290,000     2,895,200  
Clean Harbors, Inc., 11.25%, 07/15/2012 144A       2,000,000     2,270,000  
Geo Group, Inc., 8.25%, 07/15/2013       6,000,000     6,412,500  
Hines Nurseries, Inc., 10.25%, 10/01/2011        1,095,000     1,201,762  
JohnsonDiversey Holdings, Inc., Sr. Disc. Note, Step Bond, 0.00%, 05/15/2013 †       6,000,000     5,235,000  
NationsRent West, Inc., 9.50%, 10/15/2010       6,000,000     6,720,000  
TriMas Corp., 9.875%, 06/15/2012       4,450,000     4,650,250  
        31,957,212
Machinery 1.7%    
Case New Holland, Inc., 9.25%, 08/01/2011 144A       6,000,000     6,585,000  
Douglas Dynamics LLC, 7.75%, 01/15/2012 144A       2,215,000     2,242,687  
Dresser Rand Group, Inc., 7.375%, 11/01/2014 144A       2,575,000     2,645,813  
Terex Corp., 7.375%, 01/15/2014       3,000,000     3,165,000  
        14,638,500
Manufacturing 0.1%    
NSP Holdings LLC, 11.75%, 01/01/2012 144A       800,000     836,000  
Trading Companies & Distributors 0.7%    
United Rentals North America, Inc., 7.75%, 11/15/2013 þ       6,175,000     6,036,063  

INFORMATION TECHNOLOGY 2.0%		    

Communications Equipment 0.7%		    
Lucent Technologies, Inc., 6.45%, 03/15/2029 þ       6,750,000     6,058,125  
Internet Software & Services 0.8%    
UGS Corp., 10.00%, 06/01/2012 144A       5,740,000     6,428,800  
IT Services 0.5%    
Stratus Technologies, Inc., 10.375%, 12/01/2008       4,500,000     4,297,500  

MATERIALS 12.5%		    

Chemicals 4.2%		    
Arco Chemical Co., 9.80%, 02/01/2020       1,635,000     1,855,725  
Equistar Chemicals LP, 10.625%, 05/01/2011       5,700,000     6,583,500  
Huntsman Advanced Materials LLC, 11.00%, 07/15/2010 144A       2,650,000     3,127,000  
Huntsman International LLC:    
    9.875%, 03/01/2009       3,000,000     3,285,000  
    11.50%, 07/15/2012 144A       5,000,000     5,950,000  
Lyondell Chemical Co.:    
    9.50%, 12/15/2008       3,000,000     3,255,000  
    10.50%, 06/01/2013 þ       2,625,000     3,110,625  
Millenium America, Inc., 9.25%, 06/15/2008 þ       4,000,000     4,460,000  

[6]
EVERGREEN MANAGED INCOME FUND
SCHEDULE OF INVESTMENTS continued
January 31, 2005 (unaudited)
  Principal
Amount		 Value

CORPORATE BONDS continued		            

MATERIALS continued		    

Chemicals continued		    
OM Group, Inc., 9.25%, 12/15/2011 þ     $ 1,500,000   $ 1,605,000  
Terra Capital, Inc., 11.50%, 06/01/2010       2,600,000     2,951,000  
        36,182,850
Containers & Packaging 3.5%    
Graham Packaging Co., Inc., 9.875%, 10/15/2014 144A       1,510,000     1,589,275  
Graphic Packaging International, Inc., 9.50%, 08/15/2013       6,000,000     6,720,000  
Jefferson Smurfit Corp., 7.50%, 06/01/2013       6,000,000     6,225,000  
Owens-Brockway Glass Containers, Inc.:    
    8.25%, 05/15/2013 þ       4,300,000     4,697,750  
    8.75%, 11/15/2012       4,050,000     4,525,875  
Smurfit-Stone Container Corp., 9.75%, 02/01/2011       6,000,000     6,585,000  
        30,342,900
Metals & Mining 2.7%    
Alaska Steel Corp., 7.75%, 06/15/2012 þ       3,000,000     3,097,500  
Foundation Pennsylvania Coal Co., 7.25%, 08/01/2014 144A       3,595,000     3,783,737  
Freeport-McMoRan Copper & Gold, Inc., 6.875%, 02/01/2014       4,705,000     4,728,525  
Oregon Steel Mills, Inc., 10.00%, 07/15/2009 þ       3,000,000     3,345,000  
Peabody Energy Corp., 5.875%, 04/15/2016       2,130,000     2,130,000  
U.S. Steel LLC, 10.75%, 08/01/2008       4,893,000     5,810,438  
        22,895,200
Paper & Forest Products 2.1%    
Amscan Holdings, Inc., 8.75%, 05/01/2014       2,985,000     2,985,000  
Boise Cascade LLC, 7.125%, 10/15/2014 144A       730,000     768,325  
Buckeye Technologies, Inc., 8.50%, 10/01/2013 þ       5,000,000     5,400,000  
Georgia Pacific Corp.:    
    8.00%, 01/15/2024       1,670,000     1,966,425  
    8.125%, 05/15/2011       6,000,000     6,930,000  
        18,049,750

TELECOMMUNICATION SERVICES 3.5%		    

Diversified Telecommunication Services 2.1%		    
Consolidated Communications, Inc., 9.75%, 04/01/2012 144A        6,000,000     6,510,000  
FairPoint Communications, Inc., 12.50%, 05/01/2010       3,000,000     3,255,000  
Insight Midwest LP, 9.75%, 10/01/2009       3,750,000     3,956,250  
Level 3 Communications, Inc., 9.125%, 05/01/2008 þ       1,500,000     1,200,000  
Qwest Corp., 7.875%, 09/01/2011 144A       3,000,000     3,225,000  
        18,146,250
Wireless Telecommunication Services 1.4%    
Centennial Communications Corp., 10.125%, 06/15/2013       4,000,000     4,550,000  
Nextel Communications, Inc., 7.375%, 08/01/2015       6,000,000     6,645,000  
Rural Cellular Co., 8.25%, 03/15/2012       580,000     623,500  
        11,818,500

UTILITIES 1.9%		    

Gas Utilities 0.5%		    
SEMCO Energy, Inc., 7.75%, 05/15/2013       4,000,000     4,339,768  
Multi-Utilities & Unregulated Power 1.4%    
AES Corp., 9.50%, 06/01/2009       2,830,000     3,183,750  
NRG Energy, Inc., 8.00%, 12/15/2013 144A       2,150,000     2,327,375  
Reliant Resources, Inc.:    
    6.75%, 12/15/2014       3,250,000     3,185,000  
    9.25%, 07/15/2010       3,000,000     3,352,500  
        12,048,625
             Total Corporate Bonds (cost $567,196,062)             586,140,222  

[7]
EVERGREEN MANAGED INCOME FUND
SCHEDULE OF INVESTMENTS continued
January 31, 2005 (unaudited)
  Principal
Amount		 Value

FOREIGN BONDS-CORPORATE (PRINCIPAL AMOUNT DENOMINATED IN CURRENCY
    INDICATED) 22.5% 		           

CONSUMER DISCRETIONARY 1.6%		    

Automobiles 0.2%		    
Renault SA, 6.125%, 06/26/2009 EUR       1,000,000   $ 1,457,863  
Hotels, Restaurants & Leisure 0.7%    
McDonald's Corp., 5.625%, 10/07/2009 EUR       1,000,000     1,441,427  
Sodexho Alliance SA, 5.875%, 03/25/2009 EUR       3,300,000     4,712,373  
        6,153,800
Internet & Catalog Retail 0.1%    
Great University Stores, 5.625%, 12/12/2013 GBP       500,000     946,810  
Multi-line Retail 0.3%    
Debenhams Finance, 9.50%, 08/28/2012 EUR       800,000     1,197,439  
Woolworths Group plc, 8.75%, 11/15/2006 GBP       750,000     1,477,402  
        2,674,841
Specialty Retail 0.3%    
LVMH Moet Hennessy-Louis Vuitton SA, 6.125%, 06/25/2008 EUR       1,500,000     2,154,706  

CONSUMER STAPLES 1.5%		    

Beverages 0.2%		    
Canandaigua Brands, Inc., 8.50%, 11/15/2009 GBP       750,000     1,539,108  
Food & Staples Retailing 0.4%    
Big Food Group, 9.75%, 06/30/2012 GBP       350,000     765,365  
Casino Guichard Perrachon SA, 6.00%, 03/06/2008 EUR       2,000,000     2,828,069  
        3,593,434
Food Products 0.3%    
Cadbury Schweppes plc, 4.25%, 06/30/2009 EUR       2,000,000     2,705,456  
Tobacco 0.6%    
British American Tobacco International Finance plc, 4.875%, 02/25/2009 EUR       2,000,000     2,757,371  
Imperial Tobacco plc, 6.50%, 11/13/2008 GBP       1,500,000     2,928,540  
        5,685,911

ENERGY 0.1%		    

Oil & Gas 0.1%		    
Transco plc, 7.00%, 12/15/2008 AUD       1,000,000     801,068  

FINANCIALS 15.1%		    

Capital Markets 1.5%		    
Goldman Sachs Group, Inc., 4.25%, 08/04/2010 EUR       2,500,000     3,402,691  
Merrill Lynch & Co., Inc., FRN, 2.41%, 02/09/2009 EUR       4,350,000     5,675,229  
Morgan Stanley, 4.375%, 03/01/2010 EUR       2,500,000     3,423,724  
        12,501,644
Commercial Banks 6.8%    
Banco Santander, 4.00%, 09/10/2010 EUR       7,700,000     10,464,718  
BOS International Australia, 3.50%, 01/22/2007 CAD       5,000,000     4,058,679  
BSCH Issuances, Ltd., 5.125%, 07/06/2009 EUR       2,000,000     2,820,374  
DnB NOR ASA, FRN, 2.30%, 06/03/2009 EUR       4,000,000     5,213,431  
EUROFIMA, 6.50%, 08/22/2011 AUD       5,000,000     4,023,746  
European Investment Bank:    
    4.00%, 04/15/2009 SEK       5,000,000     742,861  
    5.75%, 09/15/2009 AUD       5,150,000     4,015,219  
    8.00%, 10/21/2013 ZAR       44,380,000     7,582,071  
    8.50%, 12/12/2007 ZAR       13,940,000     2,406,378  
    FRN, 2.74%, 08/16/2013 GBP       800,000     1,672,104  
Kredit Wiederaufbau, 3.50%, 04/17/2009 EUR       1,300,000     1,737,095  
Landwirtschaftliche Rentenbank, 6.00%, 09/15/2009 AUD       7,100,000     5,564,408  
Rabobank Australia, Ltd., 6.25%, 11/22/2011 NZD       725,000     501,599  

[8]
EVERGREEN MANAGED INCOME FUND
SCHEDULE OF INVESTMENTS continued
January 31, 2005 (unaudited)
  Principal
Amount		 Value

FOREIGN BONDS-CORPORATE (PRINCIPAL AMOUNT DENOMINATED IN CURRENCY
    INDICATED) continued 		           

FINANCIALS continued		    

Commercial Banks continued		    
Rabobank Nederland, 4.25%, 01/05/2009 CAD       3,030,000   $ 2,493,676  
Royal Bank of Canada, FRN, 4.96%, 04/08/2010 GBP       630,000     1,186,347  
Unicredito Italiano SpA, FRN, 2.22%, 10/23/2008 EUR       3,000,000     3,910,813  
        58,393,519
Consumer Finance 0.8%    
International Lease Finance Corp., 4.125%, 10/09/2008 EUR       3,000,000     4,046,053  
National Grid Group Finance, 6.125%, 08/23/2011 EUR       2,100,000     3,145,880  
        7,191,933
Diversified Financial Services 3.0%    
Cedulas TDA, 3.25%, 06/19/2010 EUR       6,000,000     7,883,525  
General Electric Capital Corp.:    
    6.625%, 02/04/2010 NZD #       12,000,000     8,470,399  
    FRN, 2.23%, 03/31/2008 EUR       1,750,000     2,279,755  
Household Finance Corp., 5.125%, 06/24/2009 EUR       3,000,000     4,223,885  
JSG Funding plc, 10.125%, 10/01/2012 EUR       1,630,000     2,429,151  
Network Rail Finance plc, FRN, 2.18%, 02/27/2007 EUR       300,000     391,359  
        25,678,074
Insurance 0.3%    
Aegon NV, 4.625%, 04/16/2008 EUR       1,000,000     1,372,620  
Travelers Insurance Co., 6.00%, 04/07/2009 AUD       1,000,000     773,963  
        2,146,583
Thrifts & Mortgage Finance 2.7%    
Nykredit:    
    4.00%, 10/01/2020 DKK       79,965,231     14,044,972  
    6.00%, 10/01/2022 DKK       15,572,873     2,822,548  
Realkredit Danmark:    
    4.00%, 10/01/2020 DKK       24,169,811     4,247,267  
    6.00%, 10/01/2022 DKK       7,940,680     1,436,446  
Totalkredit, 6.00%, 07/01/2022 DKK       4,818,274     872,457  
        23,423,690

INDUSTRIALS 1.8%		    

Commercial Services & Supplies 0.6%		    
Agbar International, 6.00%, 11/12/2009 EUR       3,290,000     4,813,749  
Construction & Engineering 0.4%    
ABB International Finance, Ltd., 6.50%, 11/30/2011 EUR       2,360,000     3,408,387  
Electrical Equipment 0.3%    
Fimep SA, 11.00%, 02/15/2013 EUR       1,550,000     2,481,784  
Industrial Conglomerates 0.3%    
Tyco International Group, 5.50%, 11/19/2008 EUR       2,000,000     2,819,330  
Machinery 0.2%    
Harsco Corp., 7.25%, 10/27/2010 GBP       1,000,000     2,070,311  

INFORMATION TECHNOLOGY 0.3%		    

Office Electronics 0.3%		    
Xerox Corp., 9.75%, 01/15/2009 EUR       1,800,000     2,795,081  

TELECOMMUNICATION SERVICES 1.4%		    

Diversified Telecommunication Services 1.4%		    
France Telecom, FRN, 2.39%, 01/23/2007 EUR       2,018,000     2,636,641  
Sogerim SA, 7.25%, 04/20/2011 EUR       2,500,000     3,869,176  
Telecom Italia SpA, FRN, 2.48%, 10/29/2007 EUR       4,000,000     5,223,679  
        11,729,496

[9]
EVERGREEN MANAGED INCOME FUND
SCHEDULE OF INVESTMENTS continued
January 31, 2005 (unaudited)
  Principal
Amount		 Value

FOREIGN BONDS-CORPORATE (PRINCIPAL AMOUNT DENOMINATED IN CURRENCY
    INDICATED) CONTINUED 		           

UTILITIES 0.7%		    

Electric Utilities 0.7%		    
Electricidade De Portugal, 6.40%, 10/29/2009 EUR       2,000,000   $ 2,968,945  
International Endesa BV, 4.375%, 06/18/2009 EUR       2,000,000     2,738,718  
        5,707,663
             Total Foreign Bonds-Corporate (Principal Amount Denominated in Currency Indicated) (cost $174,900,961)             192,874,241  

FOREIGN BONDS-GOVERNMENT (PRINCIPAL AMOUNT DENOMINATED IN CURRENCY INDICATED) 12.9%		    
Australia, 4.89%, 08/20/2020 AUD       13,290,000     14,545,371  
France, 1.61%, 07/25/2015 EUR       3,950,000     5,256,201  
Hungary, 7.00%, 08/12/2005 HUF       1,753,000,000     9,227,917  
New Zealand, 7.00%, 07/15/2009 NZD       9,417,000     6,928,068  
Norway:    
    5.00%, 05/15/2015 NOK       3,150,000     544,051  
    6.50%, 05/15/2013 NOK       82,030,000     15,535,478  
Poland, 6.00%, 05/24/2009 PLN       31,400,000     10,006,032  
Quebec Province, 5.625%, 06/21/2011 EUR       1,300,000     1,920,657  
Sweden:    
    3.83%, 12/01/2015 SEK       77,875,000     14,155,774  
    4.00%, 12/01/2009 SEK       36,700,000     5,470,004  
    5.25%, 03/15/2011 SEK       70,000,000     11,104,976  
United Kingdom, 6.21%, 08/23/2011 GBP       3,250,000     16,000,599  
             Total Foreign Bonds-Government (Principal Amount Denominated in Currency Indicated) (cost $105,328,938)             110,695,128  

YANKEE OBLIGATIONS-CORPORATE 6.0%		    

CONSUMER DISCRETIONARY 0.7%		    

Media 0.7%		    
IMAX Corp., 9.625%, 12/01/2010 þ     $ 6,000,000     6,525,000  

FINANCIALS 0.4%		    

Commercial Banks 0.0%		    
UBS Luxem SA, FRN, 4.45%, 10/24/2006       260,000     264,550  
Diversified Financial Services 0.4%    
Ship Finance International, Ltd., 8.50%, 12/15/2013       3,455,000     3,541,375  

HEALTH CARE 0.9%		    

Pharmaceuticals 0.9%		    
Elan Corp. plc, 7.75%, 11/15/2011 144A       1,450,000     1,522,500  
Jean Coutu Group, Inc., 8.50%, 08/01/2014 144A þ       6,000,000     6,015,000  
        7,537,500

INDUSTRIALS 0.2%		    

Transportation Infrastructure 0.2%		    
Sea Containers, Ltd., 10.50%, 05/15/2012       1,520,000     1,599,800  

INFORMATION TECHNOLOGY 0.5%		    

Electronic Equipment & Instruments 0.4%		    
Celestica, Inc., 7.875%, 07/01/2011       3,175,000     3,325,812  
Semiconductors & Semiconductor Equipment 0.1%    
Magnachip Semiconductor SA:    
    5.78%, 12/15/2011 144A       700,000     725,375  
    6.875%, 12/15/2011 144A       700,000     724,500  
        1,449,875

[10]
EVERGREEN MANAGED INCOME FUND
SCHEDULE OF INVESTMENTS continued
January 31, 2005 (unaudited)
  Principal
Amount		 Value

YANKEE OBLIGATIONS-CORPORATE continued 		           

MATERIALS 2.6%		    

Chemicals 0.8%		    
Acetex Corp., 10.875%, 08/01/2009     $ 6,000,000   $ 6,525,000  
Containers & Packaging 0.9%    
Crown European Holdings, 10.875%, 03/01/2013 þ       6,000,000     7,065,000  
Stone Container Finance Co., 7.375%, 07/15/2014       675,000     698,625  
        7,763,625
Metals & Mining 0.8%    
Gerdau Ameristeel Corp., 10.375%, 07/15/2011       497,000     576,520  
Novelis, Inc., 7.25%, 02/15/2015 144A       6,300,000     6,489,000  
        7,065,520
Paper & Forest Products 0.1%    
Millar Western Forest Products, Ltd., 7.75%, 11/15/2013       655,000     687,750  

TELECOMMUNICATION SERVICES 0.7%		    

Diversified Telecommunication Services 0.3%		    
Northern Telecom, Ltd., 6.875%, 09/01/2023 þ       3,000,000     2,850,000  
Wireless Telecommunication Services 0.4%    
Rogers Wireless, Inc.:    
    6.375%, 03/01/2014       1,390,000     1,407,375  
    7.50%, 03/15/2015 144A       1,750,000     1,885,625  
        3,293,000
             Total Yankee Obligations-Corporate (cost $50,910,247)             52,428,807  
  Shares Value

SHORT-TERM INVESTMENTS 10.3% 		           

MUTUAL FUND SHARES 10.3%		    
Evergreen Institutional Money Market Fund ø       1,018,147     1,018,147  
Navigator Prime Portfolio þþ       87,452,010     87,452,010  
             Total Short-Term Investments (cost $88,470,157)             88,470,157  
Total Investments (cost $1,282,981,223) 154.7%             1,327,060,289  
Other Assets and Liabilities and Preferred Shares (54.7%)             (469,461,591 )
Net Assets Applicable to Common Shareholders 100.0%           $ 857,598,698  

#
When-issued or delayed delivery security
## All or a portion of the security has been segregated for when-issued or delayed delivery securities.
 Security is valued at fair value as determined in good faith under procedures established by the Board of Trustees.
þ All or a portion of this security is on loan.
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.
• Security which has defaulted on payment of interest and/or principal. The Fund has stopped accruing interest on this security.
† Security initially issued in zero coupon form which converts to coupon form at a specified rate and date. An effective interest rate is applied to recognize interest income daily for the bond. This rate is based on total expected interest to be earned over the life of the bond which consists of the aggregate coupon-interest payments and discount at acquisition. The rate shown is the stated rate at the current period end.
ø Evergreen Investment Management Company, LLC is the investment advisor to the Fund and the money market Fund.
þþ Represents investment of cash collateral received from securities on loan.


[11]
EVERGREEN MANAGED INCOME FUND
SCHEDULE OF INVESTMENTS continued
January 31, 2005 (unaudited)


Summary of Abbreviations
AUD Australian Dollar
CAD Canadian Dollar
DKK Danish Krone
EUR Euro
FHLMC Federal Home Loan Mortgage Corp.
FNMA Federal National Mortgage Association
FRN Floating Rate Note
GBP British Pound
GNMA Government National Mortgage Association
HUF Hungarian Forint
NOK Norwegian Krone
NZD New Zealand Dollar
PLN Polish Zloty
REIT Real Estate Investment Trust
SEK Swedish Krona
TBA To Be Announced
ZAR South African Rand

The following table shows the percent of total long-term investments by geographic location as of January 31, 2005:

United States 74.3%
Canada 3.5%
Sweden 2.5%
United Kingdom 2.4%
France 2.3%
Luxembourg 2.2%
Denmark 1.9%
Norway 1.7%
Australia 1.6%
Spain 1.5%
Netherlands 0.9%
Germany 0.9%
Poland 0.8%
Hungary 0.8%
Italy 0.7%
New Zealand 0.6%
Bermuda 0.4%
Switzerland 0.3%
Ireland 0.3%
Portugal 0.2%
Cayman Islands 0.2%
  100.0%

At January 31, 2005, the Fund had the following open interest rate swap agreements:

Expiration
 Notional
Amount
 Counterparty
 Cash Flows Paid by
the Fund
 Cash Flows Received
by the Fund
 Unrealized
Gain (Loss)
11/27/2006 $168,000,000 JPMorgan Chase & Co. Fixed-2.79% Floating-2.54%1 $499,120
11/26/2006 112,000,000 JPMorgan Chase & Co. Fixed-3.582% Floating-2.54%1 (317,713)

1
This rate represents the 1 month USD London InterBank Offered Rate (LIBOR) effective for the period of January 26, 2005 through February 28, 2005.

On January 31, 2005, the aggregate cost of securities for federal income tax purposes was $1,286,331,808. The gross unrealized appreciation and depreciation on securities based on tax cost was $47,379,887 and $6,651,406, respectively, with a net unrealized appreciation of $40,728,481.


[12]

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-39(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-3(d) under the Investment Company Act of 1940, are attached as EX-99.CERT.

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 Managed Income Fund


By:    /s/ Dennis H. Ferro
        ——————————————
        Dennis H. Ferro,
        Principal Executive Officer

Date: March 28, 2005

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.


By:   /s/ Dennis H. Ferro
        ——————————————
        Dennis H. Ferro,
        Principal Executive Officer

Date: March 28, 2005


By:   /s/ Carol A. Kosel
        ——————————————
        Carol A. Kosel,
        Principal Financial Officer

Date: March 28, 2005