Wells Fargo Advantage Cash Investment Money Market Fund – WFIXX

LIPPER INC. TOTAL RETURN RANKINGS – as of 07-31-2010 Lipper Institutional Money Market Funds

1-year   42 out of 330 3-year   50 out of 308 5-year   49 out of 278 10-year   26 out of 162

Past performance is no guarantee of future results.

AVERAGE ANNUAL TOTAL RETURNS – as of 06-30-2010

		1-year		3-year		5-year		10-year		Since Inception
Cash Investment Money Market Fund		0.19%		1.99%		3.07%		2.82%		4.43%
Lipper Institutional Money Market Funds Average		0.10%		1.77%		2.84%		2.60%		--
Figures quoted represent past performance, which is no guarantee of future results. Investment returns and yields 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.  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

2009		0.52%
2008		2.82%
2007		5.25%
2006		4.95%
2005		3.10%
2004		1.26%
2003		1.04%
2002		1.72%
2001		4.27%
2000		6.41%

Institutional Class shares incepted on November 8, 1999. Performance shown prior to the inception of the Institutional Class reflects the performance of the Service Class shares, and includes expenses that are not applicable to and are higher than those of the Institutional Class shares.

ADVISER  |  Wells Fargo Funds Management, LLC

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

PORTFOLIO MANAGERS

		David D. Sylvester 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 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 BA in Political Science from Carleton College and her MBA from the University of Minnesota.

OBJECTIVE  |  The Cash Investment Money Market Fund seeks current income, while preserving capital and liquidity.

PRINCIPAL STRATEGIES  |  We actively manage a portfolio of high-quality, short-term, U.S. dollar-denominated money market instruments. We will only purchase First Tier securities. These include, but are not limited to, bank obligations such as time deposits and certificates of deposit, government securities, asset-backed securities, commercial paper, corporate bonds and repurchase agreements. These investments may have fixed, floating, or variable rates of interest and may be obligations of U.S. or foreign issuers.

Our security selection is based on several factors, including credit quality, yield and maturity, while taking into account the Fund's overall level of liquidity and average maturity.

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.

TOP HOLDINGS – % of net assets as of 07-31-2010 BARCLAYS CAPITAL INC REPO MBS BRCCAP 23, 0.22%, 2010-08-02   1.81% DNB NOR BANK ASA TIME DEPOSIT DNBNOR 1, 0.21%, 2010-08-02   1.74% NRW.BANK/TIME DEPOSIT NRWBNK10, 0.23%, 2010-08-02   1.69% ABN/AMRO BANK NV TIME DEPOSIT ABNAMS 13, 0.23%, 2010-08-02   1.62% CREDIT INDUST ET COMM TIME DEPOSIT CICFP 14, 0.22%, 2010-08-02   1.51% Bank of America Corporation, 0.36%, 2034-09-09   1.09% Bank of America Corporation, 1.35%, 2011-12-02   1.03% GROUPE BPCE TIME DEPOSIT BPCEGP 14, 0.26%, 2010-08-02   0.98% DEUTSCHE BANK SECURITIES REPO MM DB 8, 0.27%, 2010-08-02   0.96% INTESA SANPAOLO SPA NY, 0.28%, 2010-08-02   0.96% Portfolio holdings are subject to change and may have changed since the date specified. Click here for more complete holdings.

PORTFOLIO STATISTICS – as of 07-31-2010 Number of Securities   562 Weighted Average Effective Maturity   25.00 Day(s)

ACCOUNT FEATURES Check Writing   No Dividends   Monthly

ACCOUNT MINIMUMS All Accounts   $10,000,000 Subsequent Investments   No Minimum

FEES & EXPENSES
Net Expense Ratio – effective since 07-01-10		0.20%
Redemption Fee		None