Strategic Income Fund
– WSIAX
| Share Price 06-18-13 |
$9.75
|
| Daily Change |
-0.04
|
| YTD Return |
--
|
| 30-Day SEC Yield as of 06-17-13 |
3.95%
|
| View the 30-day unsubsidized SEC yields |
|
| Inception Date |
01-31-2013 |
| Net Fund Assets 05-31-2013 |
$24,936,910.23 |
PERFORMANCE
AVERAGE ANNUAL TOTAL RETURNS % as of 03-31-2013
| |
1-year |
3-year |
5-year |
10-year |
Inception |
| NAV |
-- |
-- |
-- |
-- |
-0.61 |
| POP |
-- |
-- |
-- |
-- |
-5.07 |
Barclays U.S. Universal Bond Index
| |
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 Barclays U.S. Universal Bond Index is an unmanaged market value-weighted performance benchmark for the U.S. dollar denominated bond market, which includes investment-grade, high yield, and emerging market debt securities with maturities of one year or more. You cannot invest directly in an index.
EXPENSES %
| Net Expense Ratio effective since 02-01-13 |
0.90% |
| Gross Expense Ratio |
1.11% |
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 0.90%. 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, 6.20%, 2018-01-31 |
3.86% |
| Poland Government Bond Bonds, 4.00%, 2023-10-25 |
2.35% |
| Republic of South Africa Bonds, 7.75%, 2023-02-28 |
2.08% |
| Nota Do Tesouro Nacional Notes, 10.00%, 2017-01-01 |
1.73% |
| Turkey Government Bond, 9.00%, 2017-03-08 |
1.58% |
| Fed Republic of Brazil Sr Unsecured, 8.50%, 2024-01-05 |
1.56% |
| Mexican Bonos Desarr Fix Rt Fixed, 8.50%, 2038-11-18 |
1.39% |
| Txu U.S. Hldgs CO Non Extended Term Loan, 0.00%, 2014-10-10 |
1.25% |
| Mexican Bonos Desarr Fix RT, 7.25%, 2016-12-15 |
1.24% |
| GENERAL MOTORS FINL CO SR UNSECURED 144A 05/16 2.75, 2.75%, 2016-05-15 |
1.21% |
Portfolio holdings are subject to change and may have changed since the date specified.
FUND STORY
PORTFOLIO MANAGERS
The Fund
The
Wells Fargo Advantage Strategic Income Fund seeks total return, consisting of a high level of current income and capital appreciation.
Competitive Advantages
- Global market expertise: The team is composed of asset class experts in U.S. high yield, U.S. core bonds, and international fixed income. This extensive coverage of the global fixed-income markets seeks to produce highly informed investment decisions that measure the best relative-value opportunities across a broad universe of international securities.
- Flexible investment strategy: The fund is designed to tactically shift across asset classes, credit tiers, currency exposures, and duration targets in an effort to best maximize the most suitable risk-adjusted returns for its strategy objective. This flexibility allows the fund managers to nimbly move across the global markets as market conditions warrant without being unduly constrained by a restricted set of eligible securities or asset classes.
- Disciplined risk management: The team uses proprietary risk management tools at the portfolio level in an effort to balance alpha generation with appropriate levels of risk-adjusted return, while benefiting from risk oversight consultation at the Wells Fargo firm level. This architecture empowers the portfolio managers to actively manage the fund within its own risk parameters.
Risks
Bond 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 values fall and investors may lose principal value. High-yield securities have a greater risk of default and tend to be more volatile than higher-rated debt securities. Loans are subject to risks similar to those associated with other below-investment-grade bond investments, such as credit risk (for example, risk of issuer default), below-investment-grade bond risk (for example, risk of greater volatility in value), and risk that the loan may become illiquid or difficult to price. 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 mortgage- and asset-backed 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.
Wells Fargo Advantage Funds