Emerging Markets Local Bond Fund — A — Wells Fargo Advantage Funds Mobile

Fund Profile

Emerging Markets Local Bond Fund – WLBAX

Share Price 06-18-13	$9.90
Daily Change	-0.11
YTD Return	-6.15%
30-Day SEC Yield as of 06-17-13	4.54%
View the 30-day unsubsidized SEC yields
Inception Date	05-31-2012
Net Fund Assets 05-31-2013	$27,557,822.56

PERFORMANCE

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

	1-year	3-year	5-year	10-year	Inception
NAV	--	--	--	--	11.87
POP	--	--	--	--	6.85

JPMorgan Government Bond Index – Emerging Markets Diversified

	1-year	3-year	5-year	10-year	Inception
	--	--	--	--	--

Important disclosure

For Class A shares, the maximum front-end sales charge is 4.50%. 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 JPMorgan Government Bond Index – Emerging Markets Diversified consists of regularly traded, liquid fixed-rate, local currency government bonds issued by emerging markets governments and includes only those countries that give access to their capital markets to foreign investors. You cannot invest directly in an index.

EXPENSES %

Net Expense Ratio effective since 03-01-13	1.23%
Gross Expense Ratio	2.27%

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 1.23%. Without this cap, the fund's returns would have been lower.

HOLDINGS

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

Russia Govt Bond Ofz Bonds, 7.00%, 2023-01-25	9.34%
Nota Do Tesouro Nacional Notes, 10.00%, 2017-01-01	8.57%
Indonesia Government Sr Unsecured, 7.37%, 2016-09-15	5.06%
Hungary Government Bond, 6.75%, 2017-11-24	5.03%
Turkey Government Bond, 9.00%, 2017-03-08	4.49%
Republic of South Africa Unsecured, 2.60%, 2028-03-31	4.35%
Inter American Devel Bk Sr Unsecured, 8.00%, 2016-01-26	3.99%
Thailand Government Bond Unsecured, 3.25%, 2017-06-16	3.95%
Poland Government Bond Bonds, 4.00%, 2023-10-25	3.95%
Malaysian Government SR Unsecured, 4.26%, 2016-09-15	3.83%

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

FUND STORY

PORTFOLIO MANAGERS

		Anthony Norris Years of investment experience: 47
		Peter Wilson Years of investment experience: 35
		Michael Lee Years of investment experience: 31
		Alex Perrin Years of investment experience: 21
		Christopher Wightman Years of investment experience: 16

The Fund

The Wells Fargo Advantage Emerging Markets Local Bond Fund seeks total return by principally investing in foreign debt securities from Emerging Markets denominated in various currencies.

Risks

Bond fund 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. 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 high-yield securities risk and regional 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, 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. 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