LIPPER INC. TOTAL RETURN RANKINGS – as of 04-30-2013 Lipper U.S. Government Money Market Funds

1-year   18 out of 97 3-year   25 out of 96 5-year   45 out of 83 10-year   31 out of 66

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
Government Money Market Fund		0.01%		0.01%		0.21%		1.45%		3.46%
Lipper U.S. Government Money Market Funds Average		0.01%		0.01%		0.23%		1.38%		--
Figures quoted represent past performance, which is no guarantee of future results. Investment returns will fluctuate. The fund's yield figures more closely reflect the current earnings of the fund than the total return figures. 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. Money market funds are sold without a front-end sales charge or contingent deferred sales charge. Other fees and expenses apply to an investment in the Fund and are described in the Fund's current prospectus. The adviser has committed to certain fee waivers and/or expense reimbursements. Without these reductions, the Fund's seven-day current yield would have been lower and rankings and ratings may have been lower. These reductions may be discontinued.

CALENDAR YEAR RETURNS

2012		0.01%
2011		0.01%
2010		0.01%
2009		0.02%
2008		1.73%
2007		4.62%
2006		4.45%
2005		2.62%
2004		0.77%
2003		0.52%

The inception date of Class A shares was 11-8-99. Performance shown prior to the inception of Class A reflects the performance of the Service Class shares, adjusted to reflect Class A expenses.

ADVISER  |  Wells Fargo Funds Management, LLC

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

PORTFOLIO MANAGERS

		David D. Sylvester Years of investment experience: 38 View biography Mr. Sylvester is an Executive Vice President with Wells Capital Management, sub-advisor to Wells Fargo Advantage Funds. For two decades, he has maintained a steadfast discipline of rigorous credit analysis and attentive capital preservation that has earned both him and our money market funds a distinguished reputation for risk controlled cash management. Mr. Sylvester began his career as a fixed income manager at the National Bank of Detroit in 1974. He joined Norwest Corporation as a fixed income portfolio manager and trader in 1979, later becoming manager of the fixed income institutional group. Norwest subsequently merged with Wells Capital Management. Since 1987, Mr. Sylvester has specialized in short-term investments and the management of money market funds.
		Laurie White Years of investment experience: 23 View biography Ms. White has been with Wells Fargo & Company and its predecessors in an investment management capacity since 1990. Ms. White joined Wells Capital Management in 1998 as a Managing Director and simultaneously was a Director for Reserve Asset Management at Norwest Investment Management (since 1997) until Wells Capital Management and Norwest Investment Management combined investment management services under the Wells Capital Management name in 1999. Ms. White currently co-manages certain of the Wells Fargo indexed mutual funds, private accounts, and collective trust funds. Ms. White earned her B.A. degree in Political Science from Carleton College and her M.B.A. degree from the University of Minnesota.

THE FUND  |  The Government Money Market Fund seeks current income, while preserving capital and liquidity.

• Focuses primarily on preserving capital and maintaining a high level of liquidity by actively managing a diversified portfolio of short-term U.S. government debt and repurchase agreements collateralized by U.S. government obligations, which will likely generate higher yields than a portfolio that invests exclusively in U.S. Treasury debt.
• Purchases only debt issued by the U.S. Treasury or U.S. government agencies across a range of eligible money market investments that may include, but are not limited to, government agency repurchase agreements, government agency debt, U.S. Treasury repurchase agreements, U.S. Treasury debt, and other securities collateralized by U.S. government obligations.
• Uses a conservative investment approach that emphasizes fundamental credit research, portfolio analytics, and portfolio risk management.

• Portfolio management team: A tenured and broad-based portfolio management team of 12 portfolio managers and traders, supported by 14 dedicated credit analysts, applies a well-defined investment process that has evolved over a period of more than 20 years–since the team's founding and the inception of the funds.
• Integrated, forward-looking credit analysis process: The team obtains an understanding of the risks associated with every issue considered for investment by thoroughly examining each issue's financial stability, its legal and structural situation, and the general credit and economic environment at any point in time. The credit analysis process is a repeatable, collaborative effort in which each issue is assigned a credit score by a primary analyst and is subsequently reviewed by a secondary analyst and credit committee before being approved for investment.
• Disciplined risk management: The team uses proprietary risk models, which include both quantitative and qualitative factors, to identify investment opportunities and manage key risks.
• Portfolio construction and ongoing monitoring: The team's highest priority is the preservation of capital and liquidity. To meet these objectives, the team relies on its credit analysis process and risk management and continuously performs stress tests on each portfolio to evaluate how the funds may react to market disruptions.

RISKS  |  An investment in a money market fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in a money market fund.

The U.S. Government guarantee applies to certain of the underlying securities and NOT to shares of the Fund.

TOP HOLDINGS – % of net assets as of 04-30-2013 Bank of America Na Repo Mbs Bacna 3, 0.17%, 2013-05-01   7.48% Societe Generale NY Repo Mbs Sognny 14, 0.18%, 2013-05-01   6.00% Barclays Capital Repo, 0.17%, 2013-05-01   5.23% Rbs Securities Incorporated Repo Mbs Rbssec 2, 0.19%, 2013-05-01   5.23% Bank of Nova Scotia Nya/ Repo Bank of Nova Scotia Nya/ Repo, 0.17%, 2013-05-01   4.49% Citigroup Global Markets Repo Mbs Citgmk 5, 0.17%, 2013-05-01   2.99% Credit Agricole, 0.18%, 2013-05-01   2.24% Bnp Paribas Secs Corp Repo Ust Parsec 7, 0.16%, 2013-05-01   1.64% Bnp Paribas Secs Corp Repo Mbs Parsec 2, 0.17%, 2013-05-01   1.50% Citibank Na Repo Mbs Citina 5, 0.17%, 2013-05-01   1.50% 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   259 Weighted Average Maturity   33 Days

ACCOUNT FEATURES Check Writing   Yes Dividends   Monthly

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

FEES & EXPENSES
Net Expense Ratio – effective since 06-01-12		0.61%
Redemption Fee		None
IRA Maintenance Fee  More information		$10 per account/$30 maximum