Wells Fargo Advantage Income Plus Fund – STYAX

MORNINGSTAR RATINGS™ as of 05-31-2013 Category = Intermediate-Term Bond 3-year Morningstar Rating™ (out of 1010 funds)   5-year Morningstar Rating™ (out of 878 funds)   10-year Morningstar Rating™ (out of 614 funds)   Overall Morningstar Rating™ (out of 1010 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 05-31-2013 Click here for more information.

LIPPER INC. TOTAL RETURN RANKINGS – as of 05-31-2013 Lipper Intermediate Investment Grade Debt Funds

1-year   409 out of 619 3-year   221 out of 544 5-year   106 out of 466 10-year   38 out of 320

Past performance is no guarantee of future results.

AVERAGE ANNUAL TOTAL RETURNS – as of 03-31-2013

				1-year		3-year		5-year		10-year		Since Inception
Income Plus Fund		NAV		4.87%		6.33%		6.73%		6.04%		5.48%
		POP		0.19%		4.71%		5.76%		5.56%		5.15%
Barclays U.S. Universal Bond Index				4.72%		6.01%		5.86%		5.41%		--
Figures quoted represent past performance, which is no guarantee of future results. Investment return, principal value, and yields of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Performance shown without sales charges would be lower if sales charges were reflected. Current performance may be lower or higher than the performance data quoted and assumes the reinvestment of dividends and capital gains. Click here for current month-end performance. Public offering price (POP) is the price of one share of a fund including any sales charges. Net asset value (NAV) is the value of one share of the fund excluding any sales charges. Had sales charges been included, performance would be lower. For Class A shares, the maximum front-end sales charge is 4.50%. Performance including sales charge assumes the sales charge for the corresponding time period.

EXPENSES
Net Expense Ratio – effective since 01-01-13		0.90%
Gross Expense Ratio		0.92%
The advisor has committed, through 12-31-13, to waive fees and/or reimburse expenses to the extent necessary to cap the fund's total annual fund operating expenses after fee waiver, excluding certain expenses, at 0.87%. Without this cap, the fund's returns would have been lower.

CALENDAR YEAR RETURNS

2012		5.59%
2011		7.77%
2010		7.98%
2009		11.87%
2008		2.29%
2007		6.24%
2006		5.32%
2005		1.41%
2004		6.55%
2003		8.41%

View the 30-day unsubsidized SEC yields.

ADVISER  |  Wells Fargo Funds Management, LLC

SUB-ADVISER  |  Wells Capital Management Incorporated ("Wells Capital Management")

PORTFOLIO MANAGERS

		Thomas M. Price, CFA Years of investment experience: 23 View biography Mr. Price joined Wells Capital Management in 2005 as a Portfolio Manager. Prior to joining Wells Capital Management, he was with Strong Capital Management ("SCM") since April 1996 as a fixed income research analyst and, since May 1998, as a portfolio manager. During this period, Mr. Price managed several fixed-income funds and separate accounts. Mr. Price began his investment career at Houlihan, Lokey, Howard & Zukin as a financial analyst and later joined Northwestern Mutual Life Insurance as a high-yield bond analyst. He received his B.B.A. degree in Finance from the University of Michigan and his M.B.A. degree in Finance from the Kellogg Graduate School of Management, Northwestern University.
		Janet S. Rilling, CFA, CPA Years of investment experience: 17 View biography Ms. Rilling joined Wells Capital Management in 2005 as a Portfolio Manager. Prior to joining Wells Capital Management, she was a portfolio manager with Strong Capital Management, Inc. ("SCM") since 2000 and a research analyst at SCM since 1995. Prior to joining SCM, she was an auditor with Coopers & Lybrand for three years, specializing in the manufacturing and financial services industries. She received her B.A. degree in Accounting and Finance and her M.S. degree in Finance from the University of Wisconsin.
		Michael Bray, CFA Years of investment experience: 25 View biography Mr. Bray entered the investment industry in 1988. He is a portfolio manager on the customized fixed income team at Wells Capital Management. Prior to joining Wells Capital in 2005, he was managing director at State Street Research and Management, focusing on mutual fund and institutional account management. He also gained experience while with Merrill Lynch & Company as vice president of mortgage securities research and sales. Before this, he was an analyst with Manufacturers Hanover Company, specializing in mortgage and derivative securities. Mr. Bray received a bachelor's degree in math and actuarial science from the University of Connecticut, Storrs. He received his master's degree in business administration–finance from The Pennsylvania State University.

THE FUND  |  The Wells Fargo Advantage Income Plus Fund seeks total return by primarily investing in debt issued by U.S. corporations, the U.S. Treasury, and government agencies, as well as in securitized debt.

• Seeks to outperform the Barclays Capital U.S. Universal Bond Index by investing in a diversified portfolio of fixed-income securities while maintaining a duration target of approximately four to five years.
• Typically holds most of its exposure in corporate debt, securitized debt (residential and commercial mortgage-backed securities, as well as asset-backed issues), and debt issued by the U.S. Treasury and government agencies.
• Acts on manager expertise in the high-yield sector to seek additional value from lower-quality credit tiers while maintaining a predominance of investment-grade securities in the fund.

• Rigorous security research: Security analysis is conducted by a team of credit, mortgage, and government sector specialists with extensive experience in the research, trading, and portfolio management of a wide variety of fixed-income products.
• Disciplined risk management: The team uses proprietary risk management tools designed to balance alpha generation with appropriate levels of risk-adjusted return and comprehensive risk management.
• Open work environment: The team benefits from an open work environment in which investment management professionals in varying capacities interact continuously throughout the day. This includes partnerships with economists and various taxable fixed-income teams who provide valuable perspectives and information in measuring various sectors of the fixed-income markets.

RISKS  |   Bond fund values fluctuate in response to the financial condition of individual issuers, general market and economic conditions, and changes in interest rates. In general, when interest rates rise, bond fund values fall and investors may lose principal value. 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 foreign investment risk, high-yield securities risk, and mortgage- and asset-backed securities risk. Consult the fund's prospectus for additional information on these and other risks.

TOP HOLDINGS – % of net assets as of 05-31-2013 U.S. Treasury, 0.50%, 2014-08-15   5.78% WI Treasury N/b, 0.87%, 2018-01-31   4.87% WI Treasury Sec, 0.37%, 2015-03-15   3.73% Federal Home Loan Mortgage Company, 3.50%, 2043-06-01   3.45% FNMA TBA 30 YR TBA, 3.00%, 2043-06-01   3.12% U.S. Treasury N/B, 2.25%, 2018-07-31   2.85% Federal National Mortgage Association, 4.50%, 2043-06-01   2.57% U.S. Treasury Bond, 6.37%, 2027-08-15   2.00% U.S. Treasury N/b, 0.25%, 2015-12-15   1.73% Government Natl Mtg Assn, 4.50%, 2043-06-01   1.72% Portfolio holdings are subject to change and may have changed since the date specified. Click here for more complete holdings.

PORTFOLIO STATISTICS – as of 04-30-2013 Number of Securities   210 Turnover Rate – as of 4-30-13   261.55%

ACCOUNT FEATURES Check Writing   No Dividends   Monthly

ACCOUNT MINIMUMS Regular Account   $1,000 Traditional/Roth IRA Account   $250 UGMA/UTMA Account   $50 Subsequent Investments   $100

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