MORNINGSTAR RATINGS™ as of 10-31-2009 Category = Large Growth 3-year Morningstar Rating™ (out of 1518 funds)   5-year Morningstar Rating™ (out of 1251 funds)   10-year Morningstar Rating™ (out of 663 funds)   Overall Morningstar Rating™ (out of 1518 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 Growth Funds

1-year   79 out of 832 3-year   313 out of 708 5-year   N/A 10-year   N/A 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 Growth Fund		2.89%		-2.52%		0.56%		-1.98%		9.28%
Russell 1000 Growth Index		-1.85%		-2.50%		1.86%		-2.56%		--
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 02-01-09		1.27%
Gross Expense Ratio		1.40%
The adviser has committed, through 01-31-10, 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		-39.16%
2007		6.87%
2006		1.81%
2005		5.28%
2004		2.82%
2003		26.24%
2002		-28.41%
2001		-21.92%
2000		-4.02%
1999		32.66%
Investor Class shares incepted on April 11, 2005. Effective June 20, 2008, Class Z was renamed Investor Class and modified to assume the features and attributes of the Investor Class. Performance shown prior to the inception of the Investor Class shares reflects the performance of the Administrator Class shares, adjusted to reflect Class Z expenses Performance prior to November 11, 1994, reflects the performance of an unregistered collective investment fund that was not subject to the same requirements and restrictions as the Fund.

ADVISER  |  Wells Fargo Funds Management, LLC

SUB-ADVISER  |  Peregrine Capital Management, Inc. ("Peregrine")

PORTFOLIO MANAGERS

		John S. Dale, CFA Managed the Large Company Growth Fund and its predecessor since 1983 Mr. Dale joined Peregrine in 1987 as a Senior Vice President and Portfolio Manager. He founded this strategy in 1983 and has managed large company growth portfolios since 1971. Prior to joining Peregrine, Mr. Dale had been associated with Norwest Bank and its affiliates since 1968, including serving as head of both the portfolio management group and equity strategy. Mr. Dale earned his B.A. degree in Marketing from the University of Minnesota.
		Gary E. Nussbaum, CFA Managed the Large Company Growth Fund and its predecessor since 1990 Mr. Nussbaum joined Peregrine in 1990 as a Vice President and Portfolio Manager where he has managed large company growth portfolios. Mr. Nussbaum earned his B.A. degree in Finance and his M.B.A. degree from the University of Wisconsin.

OBJECTIVE  |  The Large Company Growth Fund seeks long-term capital appreciation.

PRINCIPAL STRATEGIES  |  We invest principally in equity securities, focusing on approximately 30 to 50 large capitalization companies that we believe have favorable growth potential. However, we normally do not invest more than 10% of the Fund's total assets in the securities of a single issuer. 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. In selecting securities for the Fund, we seek companies that we believe are able to sustain rapid earnings growth and high profitability over a long time horizon. We seek companies that have high quality fundamental characteristics, including: dominance in their niche or industry; low cost producers; low levels of leverage; potential for high and defensible returns on capital; and management and a culture committed to sustained growth. We utilize a bottom-up approach to identify companies that are growing sustainable earnings at least 50% faster than the average of the companies comprising the S&P 500 Index. We may sell a holding if we believe it no longer will produce anticipated growth and profitability, or if the security is no longer favorably valued.

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 Goldman Sachs Group Incorporated   9.45% Cisco Systems Incorporated   6.49% Google Incorporated-Cl A   6.40% Microsoft Corporation   5.84% Charles Schwab Corporation   5.67% Apple Incorporated   5.26% Target Corporation   4.30% Qualcomm Incorporated   4.11% Intel Corporation   3.80% Paychex Incorporated   3.54% 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   47.01% Financials   22.87% Consumer Discretionary   12.12% Health Care   8.15% Industrials   7.17% Consumer Staples   2.68% Energy   0.00% Materials   0.00% 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   32 Median Market Capitalization   $30.93 Billion Turnover Rate – as of 9-30-09   13.38% R²   0.90 Beta   1.03

ACCOUNT FEATURES Check Writing   No Dividends   Annually

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