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   417 out of 619 3-year   272 out of 544 5-year   138 out of 466 10-year   N/A

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
Core Bond Fund				5.19%		6.30%		6.57%		5.33%		6.22%
Barclays U.S. Aggregate Bond Index				3.77%		5.52%		5.47%		5.02%		--
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. 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. Investor Class shares are sold without a front-end sales charge or contingent deferred sales charge.

EXPENSES
Net Expense Ratio – effective since 12-01-12		0.81%
Gross Expense Ratio		0.88%
The advisor has committed, through 09-30-14, 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 0.81%. Without this cap, the fund's returns would have been lower.

CALENDAR YEAR RETURNS

2012		6.13%
2011		8.14%
2010		7.00%
2009		11.07%
2008		2.63%
2007		6.03%
2006		3.83%
2005		1.85%
2004		4.02%
2003		4.38%

View the 30-day unsubsidized SEC yields.

The inception date of the Investor Class shares was 4-8-05. Effective 6-20-08, Class Z was renamed Investor Class and modified to assume the features and attributes of the Investor Class. Performance shown prior to the inception of the Investor Class reflects the performance of the Administrator Class shares, adjusted to reflect Class Z expenses.

ADVISER  |  Wells Fargo Funds Management, LLC

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

PORTFOLIO MANAGERS

		Thomas O'Connor, CFA Years of investment experience: 25 View biography Mr. O'Connor joined Wells Capital Management in 2003 as a portfolio manager responsible for identifying value in mortgages. From 2000 to 2003, Mr. O'Connor was a portfolio manager in the Fixed Income Division of Montgomery Asset Management. Prior to that time, Mr. O'Connor was a senior portfolio manager in charge of agency mortgages at Vanderbilt Capital Advisors (formerly ARM Capital Advisors). Previously, Mr. O'Connor was a senior trader of agency mortgages in both a proprietary and market-making role at the Union Bank of Switzerland. He was also a senior trader at First Boston and Smith Barney. Mr. O'Connor is a member of the Association for Investment Management and Research (AIMR). He earned his B.S. degree in Finance from the University of Vermont.
		Troy Ludgood Years of investment experience: 13 View biography Troy Ludgood joined Wells Capital Management in 2004 as a senior credit trader. He was promoted to director of credit trading in 2006 before becoming a portfolio manager in 2007. Prior to joining Wells Capital Management, Mr. Ludgood had been a trader at Lehman Brothers since 2000. Mr. Ludgood has a B.S. in industrial engineering from Georgia Institute of Technology and an M.B.A. from the Wharton School of the University of Pennsylvania.

THE FUND  |  The Wells Fargo Advantage Core Bond Fund seeks total return by principally investing in investment-grade securities that offer attractive income or capital appreciation opportunities.

• Focuses on bottom-up security selection in a universe of high-quality, liquid bonds.
• Uses a bottom-up security selection process that focuses on measuring relative value on a return-to-risk basis.
• Typically keeps duration neutral to that of the benchmark, with a predominant emphasis on issue selection.
• Uses proprietary risk management systems as the foundation for a highly disciplined decision-making process.

• Risk management and research: The team combines a proprietary risk management system with extensive bottom-up security selection to add incremental levels of alpha with each trade. This process empowers the team to tactically trade for value among a universe of highly liquid, high-quality securities.
• Bottom-up credit selection process: The team's credit selection process of tactically trading in the most liquid markets, coupled with a rigorous risk management system, enables it to add modest levels of alpha in all market cycles. By contrast, many traditional core bond strategies are not designed in this way and consequently may find cycles in which it is more difficult to add excess returns.
• Risk management: Risk controls are the foundation of every step of the team's process. Risk management is integrated into valuations, analytics, and trading, with the resulting portfolio composed of securities that are vetted through bottom-up credit research but modeled in a manner that seeks to minimize excessive risk relative to the benchmark.

RISKS  |   Bond 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 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 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 N/b 0.25, 0.25%, 2015-01-15   1.80% US TREASURY N/B 05/18 1., 0.87%, 2018-05-31   1.63% GNMA TBA JULY SINGLE FAMILY, 3.00%, 2043-07-01   1.61% FHLMC, 3.50%, 2043-07-01   1.55% FHLMC GOLD CONV, 3.00%, 2043-07-01   1.53% US TREASURY N/B 04/18 0.625, 0.62%, 2018-04-30   1.53% Federal National Mortgage Association, 3.50%, 2043-04-01   1.47% U.S. Treasury N/b, 0.25%, 2015-10-15   1.40% U.S. Treasury N/b, 0.37%, 2015-04-15   1.35% U.S. Treasury N/b Fixed, 1.37%, 2015-11-30   1.29% 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   597 Turnover Rate – as of 4-30-13   523.68%

ACCOUNT FEATURES Check Writing   No Dividends   Monthly

ACCOUNT MINIMUMS Regular Account   $2,500 Traditional/Roth IRA Account   $1,000 UGMA/UTMA Account   $1,000 Subsequent Investments   $100

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