Traditional Small Cap Growth Fund — A — Wells Fargo Advantage Funds Mobile

Fund Profile

Traditional Small Cap Growth Fund – EGWAX

Share Price 06-18-13	$20.05
Daily Change	0.20
YTD Return	17.39%
Inception Date	04-15-1985
Net Fund Assets 05-31-2013	$151,834,144.85

PERFORMANCE

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

	1-year	3-year	5-year	10-year	Inception
NAV	9.05	12.26	8.08	10.17	9.73
POP	2.76	10.08	6.81	9.51	9.49

Russell 2000 Growth Index

	1-year	3-year	5-year	10-year	Inception
	14.52	14.75	9.04	11.61	--

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 2000^® Growth Index measures the performance of those Russell 2000 companies with higher price-to-book ratios and higher forecasted growth values. You cannot invest directly in an index.

The inception date of Class A shares was 6-5-95. Historical performance shown for the Class A prior to its inception is based on the performance of Evergreen Growth Fund Class C, the original class offered of the fund's predecessor, 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 all classes of the fund prior to 7-19-10 is based on the performance of the fund's predecessor, the Evergreen Growth Fund.

EXPENSES %

Net Expense Ratio effective since 03-01-13	1.33%
Gross Expense Ratio	1.48%

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 1.33%. Without this cap, the fund's returns would have been lower.

MORNINGSTAR RATINGS as of 05-31-2013

Category = Small Growth

3-Year out of 633 funds
5-Year out of 567 funds
10-Year out of 367 funds
Overall out of 633 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

Concur Technologies Incorporated	2.52%
Hexel Corporation	2.48%
Financial Engines Incorporated	2.39%
DexCom	2.36%
Shutterfly Incorporated	2.16%
Cavium Incorporated	2.14%
Barnes Group Incorporated	2.14%
Cogent Communications Group Incorporated	2.10%
Ultimate Software Group Incorporated	2.04%
Examworks Group Incorporated Common Stock	1.92%

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

Information Technology	25.84%
Consumer Discretionary	17.45%
Health Care	17.42%
Industrials	16.27%
Financials	9.81%
Energy	4.62%
Materials	2.55%
Consumer Staples	2.16%
Telecommunication Services	2.09%
Cash	1.79%

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

FUND STORY

PORTFOLIO MANAGERS

		Jeffrey S. Drummond, CFA Years of investment experience: 25

		Linda Z. Freeman, CFA Years of investment experience: 34

		Paul Carder, CFA Years of investment experience: 13

		Jeffrey Harrison, CFA Years of investment experience: 19

The Fund

The Wells Fargo Advantage Traditional Small Cap Growth Fund seeks capital appreciation by investing primarily in small-capitalization companies with catalysts for underappreciated, long-term growth.

Competitive Advantages

Rigorous three-step investment process: The team's disciplined adherence to the strict criteria established for its portfolio candidates has historically resulted in holdings with sustainable long-term growth, ultimately leading to strong risk-adjusted performance for the overall portfolio.
Sector specialist structure: Sector experts are empowered to make timely investment decisions while adhering to strategies established by lead portfolio managers, resulting in optimal portfolio construction. These experts leverage their extensive knowledge, research capabilities, and network of contacts to capitalize on inefficiencies in the small-cap market through a bottom-up approach.

Risks

Stock fund values fluctuate in response to the activities of individual companies and general market and economic conditions. Smaller-company stocks tend to be more volatile and less liquid than those of larger companies. 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