International Equity Fund — A — Wells Fargo Advantage Funds Mobile

Fund Profile

International Equity Fund – WFEAX

Share Price 06-19-13	$10.76
Daily Change	-0.16
YTD Return	5.70%
Inception Date	09-06-1979
Net Fund Assets 05-31-2013	$249,844,332.65

PERFORMANCE

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

	1-year	3-year	5-year	10-year	Inception
NAV	5.48	3.68	-3.31	7.88	7.78
POP	-0.59	1.68	-4.44	7.25	7.59

MSCI ACWI ex USA Index

	1-year	3-year	5-year	10-year	Inception
	8.36	4.41	-0.39	10.93	--

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 All Country World (ACWI) ex USA Index is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed and emerging markets. 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.

The inception date of Class A was 1-20-98, Class B shares was 9-6-79 and Class C shares was 3-6-98. Historical performance shown for Class A prior to its inception is based on the performance of Class B, the original class offered, and has not been adjusted to reflect the lower expenses applicable to Class A. If these returns had been adjusted, returns would be higher. Historical performance shown for Class C prior to its inception is based on the performance of Class B, the original class offered. Classes B and C have the same expenses. Historical performance shown for all classes of the fund prior to 7-19-10 is based on the performance of the fund's predecessor, the Evergreen International Equity Fund.

EXPENSES %

Net Expense Ratio effective since 03-01-13	1.10%
Gross Expense Ratio	1.54%

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 1.09%. Without this cap, the fund's returns would have been lower.

MORNINGSTAR RATINGS as of 05-31-2013

Category = Foreign Large Blend

3-Year out of 705 funds
5-Year out of 609 funds
10-Year out of 322 funds
Overall out of 705 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 05-31-2013

Toyota Motor Corporation	3.34%
BP PLC	2.78%
Siemens AG	2.77%
Valeant Pharmaceuticals International Inc.	2.59%
Man Group PLC Common Stock Usd.428571	2.59%
Debenhams Ord Ord Gbp0.01	2.59%
Wolseley PLC	2.43%
Metro AG	2.43%
Sk Telecom Krw500	2.43%
Daiwa Securities Group Incorporated	2.42%

TOP SECTORS % of net assets as of 05-31-2013

Financials	21.50%
Industrials	19.94%
Consumer Discretionary	14.27%
Information Technology	9.46%
Telecommunication Services	7.38%
Consumer Staples	7.13%
Energy	7.11%
Health Care	5.90%
Materials	5.65%
Cash	1.66%

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

FUND STORY

PORTFOLIO MANAGERS

		Jeffrey Everett, CFA Years of investment experience: 26

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

The Fund

The Wells Fargo Advantage International Equity Fund seeks long-term capital appreciation by using in-depth fundamental research to invest in foreign equity securities.

Competitive Advantages

Diversity across size and style: The team invests across the market-capitalization spectrum and between growth and value stocks seeking to maximize the benefits of tactical opportunities that are frequently created by macroeconomic events.
Opportunistic investment in both growth and value stocks: Growth investments provide the opportunity to capitalize on accelerating cash flows that are being driven by company catalysts, such as new products, changing management teams, or improving secular business dynamics. Value investments create the opportunity to profit from mispricings between a company's stock price and its intrinsic value.
Emphasis on fundamental research: The team's approach prioritizes the fundamental analytical process by incorporating top-down macroeconomic research guides and taking advantage of changing economic conditions over a business cycle to capture improving tailwinds and to minimize the impact of cyclical headwinds.

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