Precious Metals Fund – EKWAX

 


 

Share Price 09-03-15 $23.01
Daily Change -0.36
YTD Return -24.90%
Inception Date 01-30-1978
Net Fund Assets 07-31-2015 $258,020,394.88

PERFORMANCE

AVERAGE ANNUAL TOTAL RETURNS % as of 06-30-2015

  1-year 3-year 5-year 10-year Inception
NAV -32.06 -21.68 -15.52 2.61 7.42
POP -35.97 -23.22 -16.52 2.00 7.25

FTSE Gold Mines Index

  1-year 3-year 5-year 10-year Inception
  -30.13 -25.47 -19.15 -2.65 --

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 FTSE Gold Mines Index is designed to reflect the performance of the world-wide market in the shares of companies whose principal activity is the mining of gold. Eligibility is based on the quantity of gold production. You cannot invest directly in an index.

EXPENSES %

Net Expense Ratio effective since 08-01-15 1.09%
Gross Expense Ratio 1.17%

Important disclosure

The advisor has committed, through 07-31-16, 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 07-31-2015

Category = Equity Precious Metals
3-Year out of 71 fundsMorningstar RatingMorningstar RatingMorningstar Rating
5-Year out of 69 funds Morningstar RatingMorningstar RatingMorningstar Rating
10-Year out of 51 funds Morningstar RatingMorningstar RatingMorningstar RatingMorningstar Rating
Overall out of 71 fundsMorningstar RatingMorningstar RatingMorningstar 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.

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 07-31-2015

Randgold Resources Limited 11.05%
Wells Fargo Special Investments (Cayman) 7.31%
Royal Gold, Incorporated 6.79%
Agnico-Eagle Mines Limited 5.71%
Fresnillo PLC Ord Usd0.50 4.67%
Newmont Mining Corporation 3.96%
Silver Wheaton Corporation 3.81%
Goldcorp Incorporated (G-CA) 3.79%
Goldcorp Incorporated (GG) 3.16%
Eldorado Gold Corporation 3.08%

TOP SECTORS % of net assets as of 07-31-2015

Materials 91.70%
Unassigned 7.55%
Cash 0.75%
Consumer Discretionary 0.00%
Consumer Staples 0.00%
Energy 0.00%
Financials 0.00%
Health Care 0.00%
Industrials 0.00%
Information Technology 0.00%
Portfolio holdings and sectors are subject to change and may have changed since the date specified.

FUND STORY

PORTFOLIO MANAGERS


Michael Bradshaw, CFA

Michael Bradshaw, CFA
Years of investment
experience: 20


Oleg Makhorine

Oleg Makhorine
Years of investment
experience: 20


The Fund

The Wells Fargo Advantage Precious Metals Fund seeks long-term capital appreciation by principally investing in companies related to precious metals across all market capitalizations.

Competitive Advantages

  • Diversity among gold-related stocks: The team primarily invests in gold-related stocks, diversifying across exploration, development, and production companies. This approach allows for greater upside opportunities and allocates risk more broadly across business segments, setting it apart from many of the funds within its peer group.
  • Holdings often have notable upside potential as gold prices rise: Precious metals-related stocks have often provided greater return potential relative to direct investments in their underlying commodities during periods when precious metals prices are strongly rising.
  • Fundamental analysis seeks to minimize downside risk: The team focuses on stocks with their own attractive fundamentals that may provide a buffer to the downside relative to benchmark during periods of falling commodity prices.

Risks

Stock values fluctuate in response to the activities of individual companies and general market and economic conditions. Funds that concentrate their investments in limited sectors may be susceptible to financial, economic, or market events affecting those sectors. Certain investment strategies tend to increase the total risk of an investment (relative to the broader market). This fund is exposed to convertible securities risk, foreign investment risk, nondiversification risk, and 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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