Special Mid Cap Value Fund – WFPAX

 


 

Share Price 09-01-15 $30.39
Daily Change -0.78
YTD Return -3.65%
Inception Date 12-31-1998
Net Fund Assets 07-31-2015 $1,967,414,064.92

PERFORMANCE

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

  1-year 3-year 5-year 10-year Inception
NAV 5.62 21.43 18.42 9.54 12.57
POP -0.46 19.05 17.03 8.89 12.16

Russell Midcap Value Index

  1-year 3-year 5-year 10-year Inception
  3.67 19.13 17.73 8.89 --

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

EXPENSES %

Net Expense Ratio effective since 07-01-15 1.24%
Gross Expense Ratio 1.24%

Important disclosure

The advisor has committed, through 01-31-16, 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 1.25%. Without this cap, the fund's returns would have been lower.

MORNINGSTAR RATINGS as of 07-31-2015

Category = Mid-Cap Value
3-Year out of 430 fundsMorningstar RatingMorningstar RatingMorningstar RatingMorningstar Rating
5-Year out of 371 funds Morningstar RatingMorningstar RatingMorningstar RatingMorningstar Rating
10-Year out of 248 funds Morningstar RatingMorningstar RatingMorningstar RatingMorningstar Rating
Overall out of 430 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

Republic Services, Incorporated 2.94%
Synopsys, Incorporated 2.77%
Brown & Brown, Incorporated 2.62%
Loews Corporation 2.58%
Molson Coors Brewing Company 2.56%
Church & Dwight Company, Incorporated 2.49%
EMCOR Group, Incorporated 2.41%
Macquarie Infrastucture Company LLC 2.39%
ProAssurance Corporation 2.30%
Fidelity National Information Services Incorporated 2.28%

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

Financials 23.71%
Industrials 18.73%
Information Technology 16.11%
Consumer Staples 8.23%
Health Care 8.17%
Cash 6.60%
Consumer Discretionary 5.85%
Materials 5.62%
Energy 5.20%
Utilities 1.78%
Portfolio holdings and sectors are subject to change and may have changed since the date specified.

FUND STORY

PORTFOLIO MANAGERS


James M. Tringas, CFA, CPA

James M. Tringas, CFA, CPA
Years of investment
experience: 25

 

Bryant VanCronkhite, CFA, CPA

Bryant VanCronkhite, CFA, CPA
Years of investment
experience: 11


The Fund

The Wells Fargo Advantage Special Mid Cap Value Fund seeks long-term capital appreciation by principally investing in mid-capitalization companies and using a disciplined, consistent process that focuses on valuation and stocks with high reward-to-risk ratios.

Competitive Advantages

  • Proprietary cash-flow valuation: Recognizing that there is hidden value in a company's financial flexibility, the team's cash-flow analysis is designed to value a company's excess balance sheet capacity in order to determine the value that could be generated if the company carried more debt.
  • Insight into complex financial statements: The team has a strong accounting focus, which it believes leads to better understanding of a company's financial condition. The team is seasoned in evaluating arcane accounting issues such as pension obligations and off-balance-sheet liabilities.

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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