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

				1-year		3-year		5-year		10-year		Since Inception
Short Duration Government Bond Fund				1.97%		2.56%		3.66%		3.56%		5.00%
Barclays 1-3 Year Government Bond Index				0.66%		1.29%		1.91%		2.78%		--
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.

EXPENSES
Net Expense Ratio – effective since 01-01-13		0.38%
Gross Expense Ratio		0.44%
The advisor has committed, through 12-31-14, 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 0.37%. Without this cap, the fund's returns would have been lower.

View the 30-day unsubsidized SEC yields.

Historical performance shown for the Class R6 shares prior to their inception reflects the performance of the Institutional Class shares, and is not adjusted to reflect Class R6 expenses. If these expenses had been included, returns for Class R6 would be higher. The Institutional Class annual returns are substantially similar to what the Class R6 annual returns would be because the Institutional Class and Class R6 shares are invested in the same portfolio and their returns differ only to the extent that they do not have the same 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 Short Duration Government Bond Fund seeks total return by primarily investing in debt issued by U.S. government agencies and government-sponsored enterprises (GSEs) while maintaining an average duration less than that of the 3-year Treasury.

• Seeks to outperform the Barclays Capital 1-3 Year Government Bond Index by investing the majority of its assets in high-quality securities issued or guaranteed by U.S. government agencies or GSEs.
• Typically maintains a duration neutral to that of the benchmark, with a predominant emphasis on bottom-up security selection among a universe of high-quality, liquid bonds.
• Uses proprietary risk management systems as the foundation for a highly disciplined decision-making process.

• Empowered tactical trading: 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.
• 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 fund values fall and investors may lose principal value. Securities issued by U.S. government agencies or government-sponsored entities may not be guaranteed by the U.S. Treasury. 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. The U.S. government guarantee applies to certain underlying securities and not to shares of the fund.

TOP HOLDINGS – % of net assets as of 05-31-2013 U.S. Treasury Note, 1.75%, 2014-03-31   7.89% U.S. Treasury N/b, 0.25%, 2014-02-28   6.60% WI Treasury N/b, 0.37%, 2016-03-15   5.63% FNMA, 5.50%, 2041-12-01   5.39% U.S. Treasury N/b Fixed, 0.50%, 2013-11-15   4.35% FNMA, 5.00%, 2040-02-01   4.01% US TREASURY N/B 05/15 0.25, 0.25%, 2015-05-31   3.76% FNMA, 5.50%, 2040-08-01   3.30% FNMA, 6.00%, 2037-08-01   2.10% FNR 2010 60 HJ Fixed, 5.50%, 2040-05-25   1.84% 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   183 Turnover Rate – as of 4-30-13   358.28%

ACCOUNT FEATURES Check Writing   No Dividends   Monthly

ACCOUNT MINIMUMS All Accounts   None Subsequent Investments   No Minimum

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