Wells Fargo Advantage Emerging Markets Equity Income Fund – EQIAX

AVERAGE ANNUAL TOTAL RETURNS – as of 03-31-2013

				1-year		3-year		5-year		10-year		Since Inception
Emerging Markets Equity Income Fund		NAV		--		--		--		--		23.71%
		POP		--		--		--		--		16.59%
MSCI Emerging Markets Index				--		--		--		--		--
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. 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 5.75%. Performance including sales charge assumes the sales charge for the corresponding time period.

EXPENSES
Net Expense Ratio – effective since 03-01-13		1.65%
Gross Expense Ratio		4.34%
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 1.65%. Without this cap, the fund's returns would have been lower.

ADVISER  |  Wells Fargo Funds Management, LLC

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

PORTFOLIO MANAGERS

		Anthony L.T. Cragg Years of investment experience: 32 View biography Mr. Cragg has more than 30 years of experience in international equity investing, which includes both the developed and emerging markets. He joined Wells Capital Management in 2005 with the asset acquisition of Strong Capital Management ("SCM"). Mr. Cragg joined SCM in 1993 and was instrumental in developing its international investment capabilities. Prior to this, he helped establish Dillon, Read International Asset Management. Mr. Cragg began his investment career in 1980 at Gartmore, Ltd., as an international investment manager, where his tenure included assignments in London, Hong Kong, and Tokyo. Mr. Cragg earned a bachelor's and master's degree in English Literature from Christ Church College at Oxford University.
		Alison Shimada Years of investment experience: 28 View biography Ms. Shimada joined Wells Capital Management in October 2003 after serving as an investment officer of the University of California Regents-Office of the Treasurer. She began her responsibilities at Wells Capital Management as the head of equity research for the developed markets (EAFE) international equity team and a senior investment analyst for Japan and Australia/New Zealand. Her investment career began in 1985 and she has served as a portfolio manager specializing in Malaysian equities at Commerce Asset Fund Managers and as senior equity analyst covering Japanese securities at Fidelity Investments Japan. Ms. Shimada received her bachelor’s degree in political economies of industrial societies from the University of California at Berkeley. She earned a master’s degree in business administration from Harvard Business School.

THE FUND  |  The Wells Fargo Advantage Emerging Markets Equity Income Fund seeks to generate total return by investing in emerging markets stocks with dividend yields greater than the average for the MSCI Emerging Markets Net Index.

• Active fundamental investment discipline combines rigorous bottom-up and top-down analysis to provide core exposure to emerging markets.
• Seeks success in emerging markets by using quantitative and qualitative screens to find companies with strong business models, attractive growth prospects, sustainable cash flow generation, strong financial profiles, and above-average dividend yields.
• Attempts to exploit the inefficiencies in emerging markets by actively managing country and sector weights, seeking to maximize the benefits of stock selection.

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 regional risk and 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 Shin Corp Pcl Foreign Common Stock   2.70% Industrial and Commercial Bank of China Limited   2.26% Sk Telecom Limited ADR   2.22% China Construction Bank   2.03% Taiwan Semiconductor Manufacturing Company Limited   1.96% Philippine Lng Dis Php5   1.74% Semirara Mining Corp Common Stock Php1.   1.71% Telefonica Brasil ADR   1.68% China Mobile Limited   1.63% KT Corporation   1.58% 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 Taiwan   12.62% Brazil   10.94% China   10.89% Hong Kong   8.80% Thailand   5.81% Singapore   5.31% Korea, Republic Of   5.26% Russian Federation   5.08% Philippines   4.93% Malaysia   4.49% Portfolio sectors are subject to change and may have changed since the date specified.

PORTFOLIO STATISTICS – as of 03-31-2013 Number of Securities   96 Median Market Capitalization   $5.00 Billion Turnover Rate – as of 3-31-13   -- R²   -- Beta   --

ACCOUNT FEATURES Check Writing   No Dividends   Annually

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