MORNINGSTAR RATINGS™ as of 04-30-2013 Category = Foreign Large Blend 3-year Morningstar Rating™ (out of 707 funds)   5-year Morningstar Rating™ (out of 600 funds)   10-year Morningstar Rating™ (out of 321 funds)   Overall Morningstar Rating™ (out of 707 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 04-30-2013 Click here for more information.

LIPPER INC. TOTAL RETURN RANKINGS – as of 04-30-2013 Lipper International Multi-Cap Core Funds

1-year   120 out of 319 3-year   64 out of 270 5-year   107 out of 239 10-year   64 out of 94

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
Diversified International Fund				10.56%		6.43%		-1.00%		7.75%		3.75%
MSCI EAFE Index				11.25%		5.00%		-0.89%		9.69%		--
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 and assumes the reinvestment of dividends and capital gains. Click here for current month-end performance. Administrator Class shares are sold without a front-end sales charge or contingent deferred sales charge.

EXPENSES
Net Expense Ratio – effective since 03-01-13		1.26%
Gross Expense Ratio		1.50%
The advisor has committed, through 02-28-14, 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 1.25%. Without this cap, the fund's returns would have been lower.

CALENDAR YEAR RETURNS

2012		18.97%
2011		-10.73%
2010		9.73%
2009		27.86%
2008		-44.99%
2007		10.97%
2006		24.74%
2005		12.15%
2004		11.06%
2003		28.97%

The inception date of the Administrator Class shares was 11-8-99. Prior to 4-11-05, the Administrator Class was named the Institutional Class. Performance shown prior to the inception of the Administrator Class shares reflects the performance of the Class A shares and includes expenses that are not applicable to and are higher than those of the Administrator Class shares but does not include Class A sales charges. If it did include Class A sales charges, returns would be lower. The Class A shares incepted on 9-24-97.

ADVISER  |  Wells Fargo Funds Management, LLC

SUB-ADVISERS  |  Artisan Partners Limited Partnership ("Artisan"), LSV Asset Management ("LSV"), Wells Capital Management Incorporated ("Wells Capital Management")

PORTFOLIO MANAGERS

		Menno Vermeulen, CFA Years of investment experience: 20 View biography Mr. Vermeulen has served as a Portfolio Manager and Senior Quantitative Analyst for LSV since 1995 and as a Partner for LSV since 1998. Mr. Vermeulen has more than 14 years of investment experience. Mr. Vermeulen earned his M.S. degree in Econometrics at Erasmus University at Rotterdam.
		Mark L. Yockey, CFA Years of investment experience: 28 View biography Mr. Yockey is a managing director of Artisan and portfolio manager for Artisan's diversified international growth equity portfolios. He has over 22 years of investment experience. Before joining Artisan in 1995, Mr. Yockey was the portfolio manager of the United International Growth Fund and Vice President of Waddell & Reed from January 1990 to December 1995. Prior to that he was an analyst specializing in the worldwide healthcare industry and international special situations at Waddell & Reed. Prior to joining Waddell & Reed, he was a health care analyst for the State of Michigan Retirement Fund. Mr. Yockey earned his B.A. degrees and M.B.A. degrees in Finance at Michigan State University.
		Josef Lakonishok Years of investment experience: 32 View biography Dr. Lakonishok has served as CEO, Partner, and Portfolio Manager for LSV since its founding in 1994. Dr. Lakonishok has more than 26 years of investment and research experience. Dr. Lakonishok earned his B.A. degree in Economics and Statistics and his M.B.A. degree from Tel Aviv University and earned his M.S. and Ph.D. degrees in Business Administration from Cornell University.
		Puneet Mansharamani, CFA Years of investment experience: 14 View biography Mr. Mansharamani has served as a partner and portfolio manager at LSV, the Fund's subadvisor, since 2006. Previously, he was a quantitative analyst at the firm since 2000. He earned his B.S. in Engineering from Delhi University, Delhi College of Engineering, and his M.S. in Engineering from Case Western Reserve University, Case School of Engineering.
		Jeffrey Everett, CFA Years of investment experience: 26 View biography Mr. Everett is a managing partner and portfolio manager for the EverKey Global Equity team at Wells Capital Management (WellsCap). He joined WellsCap in 2012 from EverKey Global Partners (EverKey), where he served as a founding managing partner and managing member since 2007; he was involved in both research (senior analyst/Asia) and portfolio management at the firm. Prior to joining EverKey, he served as the president of Templeton Global Advisors Limited. In this role, Mr. Everett oversaw all portfolio management responsibilities for mutual fund portfolios and activities within the Templeton Global Equity Group and served as lead portfolio manager for several funds for both U.S. and non-U.S. investors. Earlier in his career, Mr. Everett was part of Templeton's research group and was previously employed by First Pennsylvania Bank as an equity and convertible bond analyst. He began his investment industry career in 1987. Mr. Everett earned a bachelor's degree in finance from The Pennsylvania State University. He has earned the right to use the Chartered Financial Analyst® (CFA®) designation and is a member of the International Society of Financial Analysts (ISFA) and the Association of Investment Management and Research (AIMR).
		Dale A. Winner, CFA Years of investment experience: 26 View biography Mr. Winner is a co-portfolio manager for the EverKey Global Equity team at Wells Capital Management (Wells Cap). He joined WellsCap in 2012 from EverKey Global Partners, where he served as a founding partner since 2007; he was involved in both research (senior analyst/Europe) and portfolio management. Prior to joining EverKey, Mr. Winner served as senior vice president, portfolio manager, and research analyst with Templeton Global Advisors Limited. In addition, he served as the coordinator for the global financials team and had direct research responsibility for global diversified financials. At various times during his career at Templeton, Mr. Winner had research responsibilities for the global sectors of aerospace and defense, life insurance, engineering, and country/regional research coverage of Spain, Portugal, Eastern Europe, and Russia. Earlier in his career, he served as a trust officer at JPMorgan in the Bahamas. Prior to that, he was a credit analyst at Mitsui Trust in London. Mr. Winner earned a bachelor's degree in law from the University of Reading. He has earned the right to use the Chartered Financial Analyst® (CFA®) designation.

THE FUND  |  The Wells Fargo Advantage Diversified International Fund seeks long-term capital appreciation by investing principally in the equity securities of foreign issuers through the use of three different styles of international equity management.

• Employs a multi-management approach that provides broad exposure to international markets by diversifying across investment styles, including value, core, and growth.
• The value exposure, managed by LSV Asset Management, follows a deep-value strategy designed to systematically exploit the judgmental biases and behavioral weaknesses that influence the decisions of many investors.
• The core allocation, managed by Wells Capital Management, employs a fundamental bottom-up research process that includes top-down factors and seeks to generate excess returns through stock selection.
• The growth allocation, managed by Artisan Partners Limited Partnership, seeks to invest in high-quality companies that are exposed to positive secular trends that they believe present accelerating growth prospects.

• Multi-manager approach: The fund's multi-manager approach provides broad diversification across international markets and is designed to create an all-weather portfolio.
• Diversity among investment processes: The combination of independent investment subadvisors that employ diverse investment processes and styles seeks to maximize the beneficial effect of stock selection. Additionally, it aims to minimize performance volatility that is attributable to market factors, such as sector and country allocations and growth and value effects.

RISKS  |   Stock fund values fluctuate in response to the activities of individual companies and general market and economic conditions. Foreign investments are especially volatile and can rise or fall dramatically due to differences in the political and economic conditions of the host country. These risks are generally intensified in emerging markets. 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 smaller-company securities risk. Consult the fund's prospectus for additional information on these and other risks.

TOP HOLDINGS – % of net assets as of 04-30-2013 Toyota Motor Corporation   1.62% Zurich Financial Services AG   1.48% Muenchener Rueckver AG   1.42% Honda Motor CO Npv   1.41% Linde AG   1.40% Allianz SE   1.34% BP PLC   1.29% Japan Tobacco Incorporated   1.29% Bayer AG   1.22% Anheuser Busch InBev   1.17% Portfolio holdings are subject to change and may have changed since the date specified. Click here for more complete holdings.

TOP COUNTRIES – % of net assets as of 04-30-2013 Japan   18.63% Great Britain   15.87% Germany   13.09% Switzerland   9.39% France   5.61% Hong Kong   5.10% United States   3.76% Canada   3.56% Netherlands   3.24% China   3.04% Portfolio sectors are subject to change and may have changed since the date specified.

PORTFOLIO STATISTICS – as of 03-31-2013 Number of Securities   258 Median Market Capitalization   $13.25 Billion Turnover Rate – as of 3-31-13   39.78% R²   0.97 Beta   0.99

ACCOUNT FEATURES Check Writing   No Dividends   Annually

ACCOUNT MINIMUMS All Accounts   $1,000,000 Subsequent Investments   No Minimum

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