Large Company Value Fund – WLCAX

 


 

Share Price 05-17-13 $15.95
Daily Change 0.18
YTD Return 18.49%
Inception Date 07-01-1993
Net Fund Assets 04-30-2013 $284,028,044.27

PERFORMANCE

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

  1-year 3-year 5-year 10-year Inception
NAV 13.70 8.99 3.76 8.07 7.69
POP 7.18 6.85 2.53 7.43 7.37

Russell 1000 Value Index

  1-year 3-year 5-year 10-year Inception
  18.77 12.74 4.85 9.18 --

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.

Russell 1000® Value Index measures the performance of those Russell 1000 companies with lower price-to-book ratios and lower forecasted growth values. You cannot invest directly in an index.

EXPENSES %

Net Expense Ratio effective since 12-01-12 1.10%
Gross Expense Ratio 1.27%

Important disclosure

The advisor has committed, through 11-30-13, 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 1.10%. Without this cap, the fund's returns would have been lower.

MORNINGSTAR RATINGS as of 04-30-2013

Category = Large Value
3-Year out of 1037 fundsMorningstar Rating
5-Year out of 926 funds Morningstar RatingMorningstar Rating
10-Year out of 587 funds Morningstar RatingMorningstar Rating
Overall out of 1037 fundsMorningstar RatingMorningstar Rating

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.

Please note, Morningstar provides an extended performance rating for some mutual funds in its universe. Share classes that don't have a one-, three-, five-, or 10-year performance history may receive a hypothetical Morningstar Rating based on the oldest surviving share class of the fund. Morningstar computes the fund's new return stream by appending an adjusted return history of the oldest share class, and the extended performance rating is determined by comparing the adjusted historical returns with the current open-end mutual fund universe. 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

Chevron Corporation 4.78%
Citigroup Incorporated 2.72%
Pfizer Incorporated 2.68%
Johnson & Johnson 2.38%
CVS Caremark Corporation 2.37%
American Tower Corporation Reit 2.16%
Hartford Financial Services 2.12%
American International Group Incorporated 2.11%
Bank of America Corporation 2.04%
Southwest Airlines Company 2.03%

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

Financials 29.45%
Energy 13.84%
Industrials 11.60%
Health Care 9.76%
Information Technology 8.46%
Consumer Discretionary 8.34%
Utilities 5.59%
Consumer Staples 5.43%
Materials 3.42%
Telecommunication Services 2.96%
Portfolio holdings and sectors are subject to change and may have changed since the date specified.

FUND STORY

PORTFOLIO MANAGERS


William Schaff, CFA

William Schaff, CFA
Years of investment
experience: 25

 

Stephen Block, CFA

Stephen Block, CFA
Years of investment
experience: 17


The Fund

The Wells Fargo Advantage Large Company Value Fund seeks to outperform the Russell 1000® Value Index by identifying companies with low relative valuation by using proprietary industry-specific valuation models.

Competitive Advantages

  • Proprietary models: The team has developed proprietary industry-specific valuation models believed to be stronger predictors of future performance than typical valuation metrics. The team's extensive experience as an institutional real estate investment trust (REIT) manager led to the creation of a proprietary REIT valuation, and its banking model is of similar thoughtfulness and rigor.
  • Emphasis on reducing risk: Risk management is embedded within all aspects of the investment process, from investment selection through portfolio construction, benchmark awareness, and sale review. The team invests in 50 to 80 stocks and seeks to prevent any single position from disproportionately affecting the overall portfolio.

Risks

Stock fund values fluctuate in response to the activities of individual companies and general market and economic conditions. 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. 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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