The new name, according to a press release from the company, will be Wells Fargo Advantage Funds and will take effect when Wells Fargo’s acquisition of $29 billion in assets from Strong Financial Corporation is complete. When the two companies combine, they will form the 20 th largest mutual fund company in the nation. Wells Fargo has $100 billion in mutual fund assets under management, which will be combined with $24 billion from Strong.
The new fund group will feature 120 mutual funds. Its strengths are expected to be in growth and value stocks as well as fixed-income and asset allocation offerings, according to the company.