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ADVISER | Wells Fargo Funds Management, LLC
SUB-ADVISER | Wells Capital Management Incorporated ("Wells Capital Management")
PORTFOLIO MANAGERS
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Thomas J. Pence, CFA
Managed the Capital Growth Fund and its predecessor since 2004
Mr. Pence joined Wells Capital Management in 2005. Prior to joining Wells Capital Management, he was a portfolio manager at Strong Capital Management, Inc. ("SCM") since October 2000. Prior to joining SCM, Mr. Pence served as Senior Vice President and Chief Equity Investment Officer of Conseco Capital Management ("CCM"). While at CCM, he was responsible for managing all tax-exempt and taxable equity portfolios as well as various mutual funds within the Conseco Fund Group. Prior to joining CCM in 1991, Mr. Pence worked for the Forum Group, where he oversaw several transactions as part of the firm's development and acquisition team. Before joining the Forum Group, Mr. Pence was a financial consultant with Peterson & Company in Chicago. Mr. Pence earned a B.S. degree in Business from Indiana University and his M.B.A. degree in Finance with honors from the University of Notre Dame.
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Michael Harris, CFA
Managed the Capital Growth Fund since 2006
Michael Harris is a portfolio manager for Wells Capital Management and also serves as a senior research analyst with primary responsibilities covering the financial and energy sectors. He joined Wells Capital Management following the acquisition of Strong Capital Management in 2005. Before joining Strong in 2000, Mr. Harris assisted in research and portfolio management for Conseco Capital Management equity portfolios. Prior to working for Conseco, Mr. Harris worked as an equity research assistant for the IU Foundation, assisting the portfolio managers of the $800 Million IU Foundation Endowment Fund while attending Indiana University. Mr. Harris holds a bachelor's degree in finance from Southeast Missouri State University and earned his MBA in finance from Indiana University. Mr. Harris has earned the right to use the Chartered Financial Analyst designation.
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OBJECTIVE | The Capital Growth Fund seeks long-term capital appreciation.
PRINCIPAL STRATEGIES | We
invest principally in equity securities of large-capitalization companies that
we believe offer the potential for capital growth. We define large-capitalization
companies as those with market capitalizations of $3 billion or more. We may
also invest in equity securities of foreign issuers through ADRs and similar
investments.
We seek to identify companies that have the prospect for improving
sales and earnings growth rates, enjoy a competitive advantage (for example,
dominant market share) and have effective management with a history of making
investments that are in the best interests of shareholders (for example, companies
with a history of earnings and sales growth that are in excess of total asset
growth). We pay particular attention to balance sheet metrics and how management
teams allocate capital in order to drive future cash flow. We typically use
a quantitative investment approach to assess a firm's intrinsic value to set
price objectives. Holdings are continuously monitored for changes in fundamentals
and their upside potential to fair valuation. We may invest in any sector, and
at times we may emphasize one or more particular sectors. We may choose to sell
a holding when we believe it no longer offers attractive growth prospects or
when we wish to take advantage of a better investment opportunity.
RISKS | Stock
fund values fluctuate in response to the activities of individual companies
and general market and economic conditions. The use of derivatives may reduce
returns and/or increase volatility. Certain investment strategies tend to increase
the total risk of an investment (relative to the broader market).
This Fund is exposed to active trading risk and foreign investment
risk.
Consult the Fund's prospectus for additional information on these and other risks.
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