MORNINGSTAR RATINGS™ as of 10-31-2009 Category = Large Blend 3-year Morningstar Rating™ (out of 1694 funds)   5-year Morningstar Rating™ (out of 1352 funds)   10-year Morningstar Rating™ (out of 681 funds)   Overall Morningstar Rating™ (out of 1694 funds)   The Overall Morningstar Rating for a fund is derived from a weighted-average of the performance figures associated with its three-, five- and ten-year (if applicable) ratings, based on risk-adjusted returns. Click here for more information.

Morningstar® Style Box™ – as of 10-31-2009 Click here for more information.

LIPPER INC. TOTAL RETURN RANKINGS – as of 10-31-2009 Lipper Large-Cap Core Funds

1-year   86 out of 907 3-year   335 out of 759 5-year   487 out of 627 10-year   317 out of 367 Past performance is no guarantee of future results.

AVERAGE ANNUAL TOTAL RETURN – as of 09-30-2009

		1-year		3-year		5-year		10-year		Since Inception
Large Company Core Fund		-2.50%		-3.69%		0.06%		-1.62%		5.63%
S&P 500 Index		-6.91%		-5.43%		1.02%		-0.15%		--
Figures quoted represent past performance, which is no guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. Click here for current month-end performance. Investor Class shares are sold without a front-end sales charge or contingent deferred sales charge.

EXPENSES
Net Expense Ratio – effective since 12-01-08		1.28%
Gross Expense Ratio		1.49%
The adviser has committed, through 11-30-09, to waive fees and/or reimburse expenses to maintain the Fund's net expense ratio as shown. Without these reductions, the Fund's returns would have been lower, and the rankings and ratings may have been lower.

CALENDAR YEAR RETURNS

2008		-39.30%
2007		2.24%
2006		15.39%
2005		-1.81%
2004		8.88%
2003		24.44%
2002		-21.83%
2001		-20.06%
2000		-10.25%
1999		32.23%
Investor Class shares incepted on December 29, 1995. Prior to July 18, 2008, the Fund was named the Growth and Income Fund.

ADVISER  |  Wells Fargo Funds Management, LLC

SUB-ADVISER  |  Matrix Asset Advisors, Inc. ("Matrix")

PORTFOLIO MANAGER

David A. Katz, CFA Managed the Large Company Core Fund and its predecessor since 2005 Mr. Katz is the President and Chief Investment Officer of Matrix. Mr. Katz chairs the Investment Policy Committee and is also a portfolio manager and research analyst. He has managed the Matrix Advisors Value Fund from 1996 until the present. After initially working at Management Asset Corporation (Westport, CT), Mr. Katz co-founded Value Matrix Management with John M. Gates in 1986. He served as the firm's Senior Vice President and Chief Investment Officer and was Head of the Investment Policy Committee. In 1990, he merged Value Matrix Management into Matrix Asset Advisors. He earned his B.A. degree in Economics, summa cum laude, from Union College and his M.B.A. degree, with a concentration in Finance, from New York University Graduate School of Business.

OBJECTIVE  |  The Large Company Core Fund seeks total return comprised of long-term capital appreciation and current income.

PRINCIPAL STRATEGIES  |  We invest principally in equity securities of approximately 30 to 50 large-capitalization companies, the majority of which pay dividends. 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 select companies that we believe are financially strong and meet specific valuation criteria as compared to the overall market and the companies' own valuation histories. Our discipline is predicated on establishing fundamental business valuations for strong businesses and then selectively investing in those qualifying companies whose stock prices are at least one-third lower than their business values. Our process is initially quantitative, focusing on absolute criteria such as the growth in a company's earnings, as well as relative criteria such as where a stock is currently trading versus its historic trading levels based on such criteria as its price to earnings, its price to book value, dividend yield and its price to sales. Our primary analytical effort is qualitative, where we assess whether a company is undervalued or merely statistically cheap. We focus on the role of management and the potential for a positive catalyst. We are disciplined sellers, basing our decisions on the relationship between a company's business value and its stock price. Typically, we sell a stock when the stock price equals the updated business value. Stocks will also be sold if we believe the business value and/or future prospects have materially eroded. We may also sell a stock if we believe a comparable company offers a more compelling opportunity based on valuation and prospects. We may actively trade portfolio securities.

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. Active trading results in increased turnover and trading expenses, and may generate higher short-term capital gains. Certain investment strategies tend to increase the total risk of an investment (relative to the broader market). This fund is exposed to foreign investment risk. Consult the Fund's prospectus for additional information on these and other risks.

TOP HOLDINGS – % of net assets as of 09-30-2009 Monster Worldwide Incorporated   4.12% Devon Energy Corporation   3.78% Dell Incorporated   3.75% JP Morgan Chase & Company   3.65% Tyco International Limited   3.58% Cisco Systems Incorporated   3.54% Walgreen Company   3.53% eBay Incorporated   3.48% Staples Incorporated   3.39% Microsoft Corporation   3.24% Portfolio holdings are subject to change and may have changed since the date specified. Click here for more complete holdings.

TOP SECTORS – % of net assets as of 09-30-2009 Information Technology   30.76% Consumer Discretionary   15.91% Financials   14.80% Energy   12.42% Industrials   9.15% Health Care   7.86% Consumer Staples   6.40% Materials   2.70% Telecommunication Services   0.00% Utilities   0.00% Portfolio sectors are subject to change and may have changed since the date specified.

PORTFOLIO STATISTICS – as of 09-30-2009 Number of Securities   46 Median Market Capitalization   $28.00 Billion Turnover Rate – as of 9-30-09   41.50% R²   0.94 Beta   1.18

ACCOUNT FEATURES Check Writing   No Dividends   Quarterly

ACCOUNT MINIMUMS Regular Account   $2,500 Traditional/Roth IRA Account   $1,000 UGMA/UTMA Account   $1,000 Subsequent Investments   $100

FEES
Redemption Fee		None
IRA Maintenance Fee  More information		$10 per account/$30 maximum