Wells Fargo Advantage Closed-End Funds Declare Monthly & Quarterly Dividends; Wells Fargo Advantage Multi-Sector Income Fund ...
November 07 2014 - 4:20PM
Business Wire
The Wells Fargo Advantage Income Opportunities Fund (NYSE MKT:
EAD), the Wells Fargo Advantage Multi-Sector Income Fund (NYSE MKT:
ERC), the Wells Fargo Advantage Utilities and High Income Fund
(NYSE MKT: ERH), and the Wells Fargo Advantage Global Dividend
Opportunity Fund (NYSE: EOD) have each announced a dividend
declaration. The amount per share declared by the Wells Fargo
Advantage Multi-Sector Income Fund is reduced from its prior
dividend.
Change from
Ticker Fund name
Dividend/share prior dividend EAD Wells
Fargo Advantage Income Opportunities Fund $0.068/share – ERC Wells
Fargo Advantage Multi-Sector Income Fund $0.0967/share
-$0.0033/share ERH Wells Fargo Advantage Utilities and High Income
Fund $0.075/share –
EOD
Wells Fargo Advantage Global Dividend
Opportunity Fund
$0.180/share
–
EAD, ERC, and ERH pay dividends monthly, while EOD pays
dividends quarterly. The following dates apply to today's dividend
declaration for each fund:
Declaration date: November 7, 2014Ex-dividend date: December 11,
2014Record date: December 15, 2014Payable date: January 2, 2015
The Wells Fargo Advantage Income Opportunities Fund is a
closed-end high-yield bond fund. The fund’s investment objective is
to seek a high level of current income. The fund may, as a
secondary objective, seek capital appreciation to the extent it is
consistent with its investment objective.
The Wells Fargo Advantage Multi-Sector Income Fund is a
closed-end income fund. The fund’s investment objective is to seek
a high level of current income consistent with limiting its overall
exposure to domestic interest-rate risk. As part of its principal
strategy, the fund invests in a mix of non-investment-grade
corporate debt securities, including floating-rate high-yield bank
loan securities, foreign and emerging markets debt securities,
adjustable and fixed-rate mortgages, and investment-grade corporate
bonds. Due to the impact of the U.S. high-yield market’s low-yield
environment on the fund’s portfolio, the fund is reducing its
dividend from $0.1000 to $0.0967.
The Wells Fargo Advantage Utilities and High Income Fund is a
closed-end equity and high-yield bond fund. The fund’s investment
objective is to seek a high level of current income and moderate
capital growth, with an emphasis on providing tax-advantaged
dividend income.
The Wells Fargo Advantage Global Dividend Opportunity Fund is a
closed-end fund investing primarily in a diversified portfolio of
common stocks of U.S. and non-U.S. companies. The fund’s primary
investment objective is to seek a high level of current income. The
fund’s secondary objective is long-term growth of capital.
The final determination of the source of all distributions is
subject to change and is made after year-end. Each fund will send
shareholders a Form 1099-DIV for the calendar year that will tell
shareholders how to report these distributions for federal income
tax purposes.
These closed-end funds are no longer conducting a public
offering, and shares are only available through broker/dealers on
the secondary market. Unlike an open-end mutual fund, a
closed-end fund offers a fixed number of shares for sale. After the
initial public offering, shares are bought and sold through
broker/dealers in the secondary marketplace, and the market price
of the shares is determined by supply and demand, not by net asset
value (NAV), and is often lower than the NAV. A closed-end fund is
not required to redeem or buy its shares back from investors upon
request.
High-yield, lower-rated bonds may contain more risk due to the
increased possibility of default. Foreign investments may contain
more risk due to the inherent risks associated with changing
political climates, foreign market instability, and foreign
currency fluctuations. Risks of international investing are
magnified in emerging or developing markets. Funds that concentrate
their investments in a single industry or sector may face increased
risk of price fluctuation over less concentrated funds due to
adverse developments within that industry or sector. Small- and
mid-cap securities may be subject to special risks associated with
narrower product lines and limited financial resources compared
with their large-cap counterparts. When interest rates rise, the
value of debt securities tends to fall. When interest rates
decline, interest that a fund is able to earn on its investments in
debt securities may also decline, but the value of those securities
may increase. Changes in market conditions and government policies
may lead to periods of heightened volatility in the debt securities
market and reduced liquidity for certain fund investments.
Interest-rate changes and their impact on the funds and their NAVs
can be sudden and unpredictable. The use of leverage results in
certain risks, including, among others, the likelihood of greater
volatility of the NAV and the market price of common shares.
Derivatives involve additional risks, including interest-rate risk,
credit risk, the risk of improper valuation, and the risk of
noncorrelation to the relevant instruments they are designed to
hedge or to closely track. There are numerous risks associated with
transactions in options on securities. Illiquid securities may be
subject to wide fluctuations in market value and may be difficult
to sell.
Wells Fargo Funds Management, LLC, a wholly owned subsidiary of
Wells Fargo & Company, 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. This material is being prepared by
Wells Fargo Funds Distributor, LLC, Member FINRA/SIPC, an
affiliate of Wells Fargo & Company.
Some of the information contained herein may include
forward-looking statements about the expected investment activities
of the funds. These statements provide no assurance as to the
funds’ actual investment activities or results. The reader must
make his/her own assessment of the information contained herein and
consider such other factors as he/she may deem relevant to his/her
individual circumstances.
229497 11-14
NOT FDIC INSURED • NO BANK GUARANTEE • MAY
LOSE VALUE
Wells Fargo Funds Management, LLCShareholder
inquiries:1-800-730-6001Financial advisor
inquiries:1-888-877-9275orMedia:John Roehm,
415-222-5338john.o.roehm@wellsfargo.com
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