MORNINGSTAR RATINGS™ as of 04-30-2013 Category = Inflation-Protected Bond 3-year Morningstar Rating™ (out of 179 funds)   5-year Morningstar Rating™ (out of 148 funds)   10-year Morningstar Rating™ (out of 40 funds)   Overall Morningstar Rating™ (out of 179 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 Inflation Protected Bond Funds

1-year   90 out of 181 3-year   79 out of 156 5-year   76 out of 125 10-year   24 out of 34

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
Inflation-Protected Bond Fund		NAV		5.11%		7.76%		4.90%		5.43%		5.26%
		POP		0.38%		6.11%		3.94%		4.95%		4.78%
Barclays U.S. Treasury Inflation-Protected Securities Index				5.68%		8.57%		5.89%		6.32%		--
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 10-01-12		0.85%
Gross Expense Ratio		1.14%
The advisor has committed, through 09-30-13, 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 0.85%. Without this cap, the fund's returns would have been lower.

CALENDAR YEAR RETURNS

2012		6.25%
2011		12.43%
2010		5.67%
2009		9.17%
2008		-2.60%
2007		10.99%
2006		-0.18%
2005		2.14%
2004		7.30%

View the 30-day unsubsidized SEC yields.

ADVISER  |  Wells Fargo Funds Management, LLC

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

PORTFOLIO MANAGERS

		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.
		Jay N. Mueller, CFA Years of investment experience: 30 View biography Mr. Mueller joined Wells Capital Management in 2005 as a Portfolio Manager. Prior to joining Wells Capital Management, he was a portfolio manager with Strong Capital Management ("SCM") since 1991. He also served as Director of Fixed Income for SCM from July 2002 to July 2004. Prior to joining SCM, he was a securities analyst and portfolio manager at R. Meeder & Associates. He began his investment career at Harris Trust & Savings Bank as an investment analyst. Mr. Mueller earned a B.A. degree in Economics from the University of Chicago.

THE FUND  |  The Wells Fargo Advantage Inflation-Protected Bond Fund seeks returns that exceed the long-term rate of inflation by primarily investing in Treasury Inflation-Protected Securities (TIPS).

• Seeks to outperform the Barclays Capital U.S. TIPS Index by investing in high-quality fixed-income instruments while maintaining a duration target of approximately seven to eight years.
• Typically holds most of its exposure in inflation-protected debt securities issued by the U.S. Treasury.
• Targets maintaining an average credit quality rating that is equivalent to the highest rating available from a Nationally Recognized Statistical Rating Organization.

• Rigorous security research: Security analysis is conducted by a team of government sector specialists with extensive experience in the research, trading, and portfolio management of high-quality 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 principal value of and interest payments on inflation-protected debt securities tend to fall with the rate of inflation. 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 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 04-30-2013 WI Treasury Sec. Fixed, 1.12%, 2021-01-15   5.62% TIPS, 0.12%, 2016-04-15   5.30% WI Treasury Sec Fixed, 1.25%, 2020-07-15   5.10% TIPS, 0.12%, 2022-01-15   4.89% TIPS, 0.62%, 2021-07-15   4.76% TIPS, 2.37%, 2025-01-15   4.62% Tsy Infl Ix N/b, 0.12%, 2017-04-15   4.56% TIPS, 0.12%, 2022-07-15   4.08% TIPS, 3.87%, 2029-04-15   3.43% TIPS, 1.62%, 2015-01-15   3.12% 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   37 Turnover Rate – as of 4-30-13   13.85%

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