Wells Fargo Advantage Funds(R) Announces Fund Reorganizations, Consolidations, and Closing of Class B Shares
18 Décembre 2007 - 8:03PM
PR Newswire (US)
SAN FRANCISCO, Dec. 18 /PRNewswire/ -- Wells Fargo Funds
Management, LLC, announced today that the Wells Fargo Advantage
Funds Board of Trustees (the Board) has approved initiatives to
simplify its mutual fund offerings through the reorganization of 15
Wells Fargo Advantage Funds. Additionally, the fund firm will close
Class B shares of the Wells Fargo Advantage Funds. "As with similar
past initiatives, the decision to refine our product lineup is made
with the client in mind," said Karla Rabusch, president of Wells
Fargo Advantage Funds. "We're uniting Funds with similar investment
objectives and subadvisors while also eliminating product overlap,
which will make our fund family easier for clients to navigate."
The Board has approved the fund reorganizations of the following
Wells Fargo Advantage Funds: Target Fund Acquiring Fund Balanced
Fund Asset Allocation Fund Corporate Bond Fund Income Plus Fund
High Yield Bond Fund High Income Fund Intermediate Government
Income Fund Government Securities Fund Life Stage-Conservative
Portfolio Moderate Balanced Fund Life Stage-Moderate Portfolio
Growth Balanced Fund Life Stage-Aggressive Portfolio Aggressive
Allocation Fund National Limited Tax-Free Fund Short-Term Municipal
Bond Fund National Tax-Free Fund Municipal Bond Fund Overseas Fund
International Equity Fund Value Fund C&B Large Cap Value Fund
The above proposed reorganizations are subject to shareholder
approval. Additional information, including a detailed description
of each reorganization and the Board's reasons for approving it
will be provided in the Proxy Statement/Prospectus that is expected
to be mailed to record date shareholders of each target fund by the
second quarter of 2008. A shareholder meeting is expected to be
held by the third quarter of 2008, at which time shareholders of
the target funds will vote on their respective reorganizations. The
Board also approved a set of Fund consolidations that do not
require shareholder approval under applicable SEC rules. These
funds have the same investment advisor and subadvisor, investment
objectives and strategies, and similar net operating expenses.
These approved Fund consolidations are expected by the third
quarter of 2008 and involve these Wells Fargo Advantage Funds:
Target Fund Acquiring Fund Endeavor Large Cap Fund Capital Growth
Fund Equity Index Fund Index Fund Large Company Core Fund Growth
and Income Fund Ultra-Short Duration Bond Fund Ultra Short-Term
Income Fund In addition, the Board approved the closing of Class B
shares to new investors and additional investments from existing
shareholders by the end of the first quarter of 2008. Stock fund
values fluctuate in response to the activities of individual
companies and general market and economic conditions. Bond fund
values fluctuate in response to the financial condition of
individual issuers, general market and economic conditions, and
changes in interest rates. In general, when interest rates rise,
bond fund values fall and investors may lose principal value. Some
funds, including nondiversified funds and funds investing in
foreign investments, high-yield bonds, small and mid cap stocks,
and/or more volatile segments of the economy, entail additional
risk and may not be appropriate for all investors. Consult a Fund's
prospectus for additional information on these and other risks.
Carefully consider a fund's investment objectives, risks, charges,
and expenses before investing. For a current prospectus, containing
this and other information, call 1-800-222-8222 or visit
http://www.wellsfargo.com/advantagefunds. Read it carefully before
investing. Wells Fargo Funds Management, LLC, a wholly owned
subsidiary of Wells Fargo & Company, offers investment
solutions for individual and institutional investors. Through its
Wells Fargo Advantage Funds, the firm offers 125 funds across a
wide range of asset classes representing more than $150 billion in
assets under management, as of 11-30-07. Wells Fargo Funds
Management, LLC provides investment advisory and administrative
services for Wells Fargo Advantage Funds. Other affiliates of Wells
Fargo & Company provide subadvisory and other services for the
Funds. The Funds are distributed by Wells Fargo Funds Distributor,
LLC, Member FINRA/SIPC, an affiliate of Wells Fargo & Company.
NOT FDIC INSURED -- NO BANK GUARANTEE -- MAY LOSE VALUE DATASOURCE:
Wells Fargo Funds Management, LLC CONTACT: John Roehm of Wells
Fargo Funds Management, LLC, +1-415-222-5338 Web site:
http://www.wellsfargo.com/advantagefunds http://www.wellsfargo.com/
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