California Municipal Money Market Fund — A — Wells Fargo Advantage Funds Mobile

Fund Profile

California Municipal Money Market Fund – SGCXX

7-Day Current Yield 05-17-13	0.01%
7-Day Current Pre-Waiver Yield	-0.44%
7-Day Effective Yield	0.01%
YTD Return	0.00%
Inception Date	01-01-1992
Net Fund Assets 04-30-2013	$1,374,145,056.32

PERFORMANCE

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

	1-year	3-year	5-year	10-year	Inception
NAV	0.01	0.01	0.22	0.99	1.72

Lipper California Tax-Exempt Money Market Funds Average

	1-year	3-year	5-year	10-year	Inception
	0.02	0.03	0.26	1.05	--

Important disclosure

Money market funds are sold without a front-end sales charge or contingent deferred sales charge. Other fees and expenses apply to an investment in the Fund and are described in the Fund's current prospectus.
Net asset value (NAV) is the value of one share of the fund excluding any sales charges. Returns for periods of less than one year are not annualized.
The adviser has committed to certain fee waivers and/or expense reimbursements. These reductions may be discontinued at any time. If fees had not been waived, the 7-Day current yield would have been -0.44%, and the total return would have been lower.
Source: Lipper, Inc. The Lipper California Tax-Exempt Money Market Funds Average is an average of funds that invest in California municipal obligations with dollar weighted average maturities of less than 90 days. These funds intend to keep a constant net asset value. The total return of the Lipper Average does not include the effect of sales charges. You cannot invest directly in a Lipper Average.

HOLDINGS

TOP HOLDINGS % of net assets as of 04-30-2013

California St Cas Fixed, 2.50%, 2013-06-20	1.82%
California Alternative Energy Source Financing Authority GE Capital Corporation Series A, 0.25%, 2013-05-01	1.81%
San Francisco California City And Various Refunding Housing Fillmore Center B-1, 0.30%, 2013-05-01	1.78%
California Statewide Cmntys Casdev Adjustable Var, 0.22%, 2013-05-02	1.78%
Golden State Tobacco Securitization, 6.75%, 2039-06-01	1.57%
Bay Area CA Toll Authority, 0.20%, 2013-05-02	1.51%
California Statwide Commnity Develepment Authority Mulifamily Housing Series 2680, 0.29%, 2013-05-02	1.42%
California State Series A-Subseries A-1-1 RMKT, 0.19%, 2013-05-01	1.40%
ANAHEIM CA PUBLIC FING AUTH ANAGEN 10/14 ADJUSTABLE VAR, 0.31%, 2013-05-02	1.36%
Puttable Fltg Opt Tax Exemptrc Putgen 11/36 Adjustable Var, 0.22%, 2013-05-02	1.35%

Portfolio holdings are subject to change and may have changed since the date specified.

FUND STORY

PORTFOLIO MANAGERS

		David D. Sylvester Years of investment experience: 38

		James Randazzo Years of investment experience: 20

The Fund

The California Municipal Money Market Fund seeks current income exempt from regular federal income tax and California individual income tax, while preserving capital and liquidity.

Strategies

Focuses primarily on preserving capital and maintaining a high level of liquidity by actively managing a diversified portfolio of high-quality, short-term municipal obligations that are issued by or on behalf of states, territories, and possessions of the U.S. or their political subdivisions or financing authorities that are exempt from California state tax.
Invests in a range of eligible money market instruments that may have fixed, floating, or variable rates of interest, such as variable-rate demand notes. The fund may also invest any amount in potentially higher-yielding securities that pay interest subject to federal AMT.
Manages the fund in a tax-sensitive manner by investing in municipal obligations that pay interest exempt from regular California individual income tax and regular federal income tax, but not necessarily the federal alternative minimum tax (AMT); non-AMT-sensitive investors may potentially achieve higher, nontaxable income.

Risks

An investment in a money market fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in a money market fund.

Figures quoted represent past performance, which is no guarantee of future results. Investment returns will fluctuate. The fund's yield figures more closely reflect the current earnings of the fund than the total return figures. Current performance may be lower or higher than the performance data quoted and assumes the reinvestment of dividends and capital gains. Current month-end performance is available at the funds' website, wellsfargo.com/advantagefunds.

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Not FDIC Insured • No Bank Guarantee • May Lose Value