Wells Fargo Funds Management Completes Mergers and Subadvisor Changes
August 30, 2011 (PLANSPONSOR.com) – Wells Fargo Funds Management, LLC, the investment adviser to Wells Fargo Advantage Funds, announced the successful merger of eight Wells Fargo Advantage Funds into other funds within the family.
Also, subadvisor changes for two Wells Fargo Advantage Funds are expected to occur early in the fourth quarter of 2011, according to a press release.
The Wells Fargo Advantage Funds Board of Trustees unanimously approved the fund merger and subadvisor change proposals in May. Shareholders subsequently approved the changes to the funds at a meeting held on August 19, 2011. A summary of the fund changes is on the next page.
For more information, visit wellsfargo.com/advantagefunds.
A summary of the changes is included in the tables below:
Mergers Previous fund | Existing fund | Portfolio management team of existing fund |
Wells Fargo Advantage Classic Value Fund | Wells Fargo Advantage Equity Value Fund | D. Kevin McCreesh, CFA; Ronald M. Mushock, CFA (Systematic Financial Management) |
Wells Fargo Advantage Core Equity Fund | Wells Fargo Advantage Opportunity FundSM | Ann M. Miletti; Thomas D. Wooden, CFA (Wells Capital Management) |
Wells Fargo Advantage Disciplined Global Equity Fund | Wells Fargo Advantage Intrinsic World Equity Fund | Gary W. Lisenbee, Jeffrey Peck, David M. Graham (Metropolitan West Capital Management, LLC) |
Wells Fargo Advantage Disciplined Value Fund | Wells Fargo Advantage Large Company Value Fund | William Schaff, CFA; Stephen Block, CFA (Phocas Financial) |
Wells Fargo Advantage Growth Opportunities Fund | Wells Fargo Advantage Discovery FundSM | Thomas J. Pence, CFA; Michael T. Smith, CFA (Wells Capital Management) |
Wells Fargo Advantage Mid Cap Growth Fund | Wells Fargo Advantage Enterprise FundSM | Thomas J. Pence, CFA; Michael T. Smith, CFA (Wells Capital Management) |
Wells Fargo Advantage Small Cap Growth Fund | Wells Fargo Advantage Emerging Growth Fund1 | Thomas C. Ognar, CFA; Bruce C. Olson, CFA; Joseph M. Eberhardy, CFA (Wells Capital Management) |
Wells Fargo Advantage VT Core Equity Fund | Wells Fargo Advantage VT Opportunity FundSM | Ann M. Miletti; Thomas D. Wooden, CFA (Wells Capital Management) |
Subadvisor changes Fund or portfolio | Current portfolio manager and subadvisor | Prospective portfolio managers and subadvisor |
Wells Fargo Advantage Disciplined U.S. Core Fund | Amit Chandra, Ph.D., CFA (Wells Capital Management) | Greg Golden, CFA (Golden Capital Management) |
Index Portfolio2 | Amit Chandra, Ph.D., CFA (Wells Capital Management) | Brad Ursillo, CFA; Weidong Li, CFA3 (Golden Capital Management) |
In addition to the subadvisor changes listed above, the subadvisor of the Large Company Value Portfolio (formerly Disciplined Value Portfolio) has been changed as follows: Portfolio | Previous portfolio manager and subadvisor | Existing portfolio managers and subadvisor |
Large Company Value Portfolio (formerly Disciplined Value Portfolio) 4 | Amit Chandra, Ph.D., CFA (Wells Capital Management) | William Schaff, CFA; Stephen Block, CFA (Phocas Financial) |