Wells Fargo Advantage Diversified Income Builder Fund – EKSAX

MORNINGSTAR RATINGS™ as of 04-30-2013 Category = Conservative Allocation 3-year Morningstar Rating™ (out of 593 funds)   5-year Morningstar Rating™ (out of 502 funds)   10-year Morningstar Rating™ (out of 208 funds)   Overall Morningstar Rating™ (out of 593 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 Mixed-Asset Target Allocation Conservative Funds

1-year   6 out of 332 3-year   4 out of 290 5-year   33 out of 265 10-year   56 out of 96

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 Income Builder Fund		NAV		13.31%		10.76%		7.12%		5.54%		6.47%
		POP		6.71%		8.59%		5.88%		4.93%		6.22%
Diversified Income Builder Blended Index				13.46%		11.52%		10.07%		9.71%		--
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 02-01-13		1.08%
Gross Expense Ratio		1.14%
The advisor has committed, through 01-31-14, 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 1.08%. Without this cap, the fund's returns would have been lower.

CALENDAR YEAR RETURNS

2012		14.31%
2011		1.30%
2010		15.67%
2009		33.96%
2008		-28.74%
2007		1.96%
2006		5.42%
2005		-1.38%
2004		8.19%
2003		16.40%

The inception date of Class A shares was 4-14-87 and Class B and Class C shares was February 1, 1993. Historical performance shown for Classes B and C prior to their inception is based on the performance of Class A, the original class offered, and has been adjusted to reflect the higher expenses applicable to Classes B and C. Historical performance shown for all classes of the fund prior to 7-12-10 is based on the performance of the fund's predecessor, the Evergreen Diversified Income Builder Fund.

ADVISER  |  Wells Fargo Funds Management, LLC

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

PORTFOLIO MANAGER

Margaret D. Patel Years of investment experience: 41 View biography Ms. Patel has been with Wells Capital Management or one of its predecessors since 2007. She is currently a managing director and senior portfolio manager with Wells Capital Management's Fundamental Equity group. Ms. Patel has more than 30 years experience managing various fixed income and equity funds. Previously, she served as a senior vice president and portfolio manager with Pioneer Investments, as well as a vice president with Third Avenue Funds and Northstar Investment Management While working at Pioneer Investments, she was nominated twice for Morningstar's "Fixed Income Manager of the Year." She was featured among the nation's top 20 mutual fund managers in Market Masters by Kirk Kazanjian, published by John Wiley Sons (February 2005), in World Beaters published by Citywire Group (UK: December 2004), and in The Mutual Fund Masters: A Revealing Look Into the Minds and Strategies of Wall Street's Best and Brightest by Bill Griffeth, published by Irwin Professional Publishing (December 1994). For her extensive knowledge and expertise in the investment world, Ms. Patel has been quoted regularly in publications such as The Wall Street Journal, Barron's, Money, and Bloomberg BusinessWeek. She is also a frequent guest on CNBC-TV, Bloomberg Business News, and FOX Business television as well as Bloomberg Radio. Ms. Patel has been working in the investment management field since 1972. She is a member of the New York Society of Security Analysts. Ms. Patel received a B.S. in economics from the University of Pittsburgh.

THE FUND  |  The Wells Fargo Advantage Diversified Income Builder Fund seeks long-term total return by principally investing in an actively managed portfolio of fixed-income and equity securities, with an emphasis on fixed income.

• Uses a top-down approach to determine the fund's allocation between stocks and bonds and the most desirable sectors and industries in which to invest; looks for sectors and industries that the team believes are poised to grow at or above the general level of economic growth.
• Conducts rigorous fundamental research to determine the most attractive companies within selected sectors and industries.
• Maintains flexibility to invest in the most attractively valued components of a company's capital structure, which may be bonds, common stocks, preferred stocks, or convertible bonds.

• Asset class flexibility: Within its guidelines of keeping approximately 70%-90% of the fund in fixed income and 10%-30% in equities, the team has flexibility in the types of investments it can own. Within the fixed-income universe, the team focuses on high-yield bonds and could buy a company's regular debt or its convertible debt, depending on which offers better value. Within the equity universe, the team can invest across market capitalizations and purchase common or preferred stock. The team believes this flexibility offers the opportunity to add value.

RISKS  |   Balanced funds may invest in stocks and bonds. Stock values fluctuate in response to the activities of individual companies and general market and economic conditions. 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. 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 high-yield 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 NRG Energy Incorporated, 7.87%, 2021-05-15   4.95% Iron Mountain Incorporated, 5.75%, 2024-08-15   4.34% Krafton Polymers LLC, 6.75%, 2019-03-01   3.93% Tronox Finance LLC Company Guar 144a, 6.37%, 2020-08-15   3.79% Hornbeck Offshore Services Company, 5.87%, 2020-04-01   3.15% Hertz Corporation, 6.25%, 2022-10-15   2.93% Dycom Investments Incorporated, 7.12%, 2021-01-15   2.93% Health Care Reit Incorporated   2.72% Heckmann Corporation, 9.87%, 2018-04-15   2.70% General Cable Corporation, 5.75%, 2022-10-01   2.62% 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   103 Turnover Rate – as of 4-30-13   68.49%

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