Diversified International Fund — A — Wells Fargo Advantage Funds Mobile

Fund Profile

Diversified International Fund – SILAX

Share Price 05-20-13	$11.55
Daily Change	0.09
YTD Return	12.24%
Inception Date	09-24-1997
Net Fund Assets 04-30-2013	$80,224,631.60

PERFORMANCE

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

	1-year	3-year	5-year	10-year	Inception
NAV	10.45	6.20	-1.19	7.54	3.54
POP	4.08	4.14	-2.35	6.90	3.15

MSCI EAFE Index

	1-year	3-year	5-year	10-year	Inception
	11.25	5.00	-0.89	9.69	--

Important disclosure

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.
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. Returns for periods of less than one year are not annualized.
The Morgan Stanley Capital International Europe, Australasia, and Far East Free ("MSCI EAFE Free") Index is an unmanaged group of securities widely regarded by investors to be representative of the stock markets of Europe, Australasia, and the Far East. MSCI Free Indices are constructed to reflect investment opportunities for global investors to account for local market restrictions on stock ownership by international investors. You cannot invest directly in an index.
*Source: MSCI. MSCI makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein. The MSCI data may not be further redistributed or used as a basis for other indices or any securities or financial products. This�report is not approved, reviewed or produced by MSCI.

EXPENSES %

Net Expense Ratio effective since 03-01-13	1.42%
Gross Expense Ratio	1.66%

Important disclosure

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 1.41%. Without this cap, the fund's returns would have been lower.

MORNINGSTAR RATINGS as of 04-30-2013

Category = Foreign Large Blend

3-Year out of 707 funds
5-Year out of 600 funds
10-Year out of 321 funds
Overall out of 707 funds

Important disclosure

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.

For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating™ based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) Past performance is no guarantee of future results.

HOLDINGS

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

Toyota Motor Corporation	1.62%
Zurich Financial Services AG	1.48%
Muenchener Rueckver AG	1.42%
Honda Motor CO Npv	1.41%
Linde AG	1.40%
Allianz SE	1.34%
BP PLC	1.29%
Japan Tobacco Incorporated	1.29%
Bayer AG	1.22%
Anheuser Busch InBev	1.17%

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

Financials	23.40%
Industrials	15.43%
Consumer Staples	12.96%
Consumer Discretionary	11.42%
Health Care	7.81%
Energy	7.24%
Materials	7.13%
Telecommunication Services	5.45%
Information Technology	5.31%
Cash	2.40%

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

FUND STORY

PORTFOLIO MANAGERS

		Menno Vermeulen, CFA Years of investment experience: 20

		Mark L. Yockey, CFA Years of investment experience: 28

		Josef Lakonishok Years of investment experience: 32

		Puneet Mansharamani, CFA Years of investment experience: 14

		Jeffrey Everett, CFA Years of investment experience: 26

		Dale A. Winner, CFA Years of investment experience: 26

The Fund

The Wells Fargo Advantage Diversified International Fund seeks long-term capital appreciation by investing principally in the equity securities of foreign issuers through the use of three different styles of international equity management.

Competitive Advantages

Multi-manager approach: The fund's multi-manager approach provides broad diversification across international markets and is designed to create an all-weather portfolio.
Diversity among investment processes: The combination of independent investment subadvisors that employ diverse investment processes and styles seeks to maximize the beneficial effect of stock selection. Additionally, it aims to minimize performance volatility that is attributable to market factors, such as sector and country allocations and growth and value effects.

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 smaller-company securities risk. Consult the fund's prospectus for additional information on these and other risks.

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. 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