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The insiders' edge for 40 Act industry executives!
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
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Monday, July 9, 2007 Wells Fargo Adds New Share Class to Two Funds Wells Fargo Funds Management has launched a new share class of its Wells Fargo Advantage Heritage Money Market Fund and Wells Fargo Advantage Cash Investment Money Market Fund. The new Select Class shares are offered to institutional investors who make an initial money market investment of $50 million or more. In return for their investment, the Select Class shares charge a net expense ratio of 13 bps. Wells Fargo Funds Management, LLC, one of the 15th largest providers of money market mutual funds and the nation's 18th-largest mutual fund firm has launched a new Select share class of its Wells Fargo Advantage Heritage Money Market Fund(SM) and Wells Fargo Advantage Cash Investment Money Market Fund. The Select Class shares are offered to institutional investors who make an initial money market investment of $50 million or more. In return for their investment, the Select Class shares charge a net expense ratio of 0.13%. "We believe these new lower-priced Select Class shares should appeal to large corporate and institutional investors whose cash investments have risen to unprecedented levels in recent years," said portfolio manager David Sylvester. "The new shares, combined with our conservative and highly disciplined approach to investing, make both of these Funds competitive, high-quality alternatives to individual short-term liquidity instruments." The new share class, along with the existing share classes of the two funds, will be managed by Sylvester, portfolio manager and head of Wells Capital Management's money market team. He manages more than $85 billion in money market assets across the Wells Fargo Advantage Funds(R) family and has more than 32 years experience in managing fixed-income portfolios and short-term investments. "Select shares aim to serve the growing number of large institutional investors who favor pricing that allows them to increase yield potential on their investments." said Brad Marcus, senior vice president of Wells Fargo Funds Management, "The launch of Select Class shares demonstrates our commitment to the institutional marketplace and to providing investment solutions with appropriate pricing." Wells Fargo Funds Management has more than $85 billion in money market fund assets under management as of 5-31-07. The following Wells Fargo Advantage Funds are on the NAIC's List of Approved Mutual Funds. Investors Service (together "rating agencies"). Standard & Poor's is a trademark of McGraw-Hill, Inc. and has been licensed. The Fund is not sponsored, endorsed, sold, or promoted by these rating agencies, and these rating agencies make no representation regarding the advisability of investing in the Fund. The National Association of Insurance Commissioners (NAIC) is the organization of insurance regulators from the 50 states, the District of Columbia, and the four U.S. territories. The NAIC provides a forum for the development of uniform policy when uniformity is appropriate. A fund is NAIC approved when it is on the List of Approved Mutual Funds pursuant to Part 4, Section 6 (d) of the Securities Valuation Office (SVO) Purposes and Procedures Manual of the NAIC. Wells Fargo Funds Management, LLC, a wholly owned subsidiary of Wells Fargo & Company, offers investment solutions for individual and institutional investors. The firm manages the EdVest(SM) and tomorrow's scholar(R) college savings plans, as well as Wells Fargo Advantage Funds, a family of more than 120 Funds across a wide range of asset classes, representing more than $131 billion in total assets under management, as of 5-31-07. Wells Fargo Funds Management also provides portfolio management services through its Wells Fargo Advisor(SM) program and customized investment solutions through Wells Fargo Managed Account Services, which is a program of professionally managed portfolios consisting of individual securities. An investment in a money market fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the Wells Fargo Advantage Money Market Funds seek to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in a money market fund. 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 our Web site, http://www.wellsfargo.com/advantagefunds. Read it carefully before investing. EdVest and tomorrow's scholar are state-sponsored 529 college savings plans administered by the Wisconsin Office of the State Treasurer. Wells Fargo Funds Management, LLC, a wholly owned subsidiary of Wells Fargo & Company, provides investment advisory and administrative services for Wells Fargo Advantage Funds, the EdVest and tomorrow's scholar plans, the Wells Fargo Advisor program, and Wells Fargo Managed Account Services. Other affiliates of Wells Fargo & Company provide subadvisory and other services for the Funds. The Funds and shares in the 529 plans are distributed by Wells Fargo Funds Distributor, LLC, Member NASD/SIPC, an affiliate of Wells Fargo & Company. Printed from: MFWire.com/story.asp?s=14989 Copyright 2007, InvestmentWires, Inc. All Rights Reserved |