Wells Fargo Advantage Closed-End Funds to Be Renamed
August 28 2015 - 3:03PM
Business Wire
In a move to simplify and shorten the description of the firm’s
closed-end fund offerings, Wells Fargo Funds Management, LLC, the
funds’ advisor, plans to rename them as follows, effective December
15, 2015. The name changes will not affect the investment process
or investment objective for any of the funds.
Ticker Current fund name
New fund name (effective December 15, 2015) EAD
Wells Fargo Advantage Income Opportunities Fund
Wells Fargo Income Opportunities Fund ERC Wells Fargo
Advantage Multi-Sector Income Fund Wells Fargo Multi-Sector Income
Fund ERH Wells Fargo Advantage Utilities and High Income Fund Wells
Fargo Utilities and High Income Fund EOD Wells Fargo Advantage
Global Dividend Opportunity Fund Wells Fargo Global Dividend
Opportunity Fund
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.
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 investment
objective is to seek a high level of current income. The fund’s
secondary objective is long-term growth of capital.
These closed-end funds are no longer offered as an initial
public offering, and shares are only offered 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 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 more diversified 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 or 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, 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.
236737 08-15
NOT FDIC INSURED • NO BANK GUARANTEE • MAY
LOSE VALUE
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Wells FargoShareholder inquiries1-800-730-6001orFinancial
advisor inquiries1-888-877-9275orMedia contact:John Roehm,
415-222-5338john.o.roehm@wellsfargo.com
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