International Bond Fund – ESIYX

 


 

Share Price 08-28-15 $9.78
Daily Change -0.04
YTD Return -7.21%
30-Day SEC Yield as of 08-27-15 2.29%
View the 30-day unsubsidized SEC yields  
Inception Date 12-15-1993
Net Fund Assets 07-31-2015 $1,132,212,705.87

PERFORMANCE

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

  1-year 3-year 5-year 10-year Inception
NAV -12.78 -2.30 1.23 3.23 4.85
POP -16.72 -3.78 0.31 2.76 4.63

BofA Merrill Lynch Global Broad Market ex US Index

  1-year 3-year 5-year 10-year Inception
  -13.49 -2.92 1.04 2.86 --

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 BofA Merrill Lynch Global Broad Market Ex. U.S. Index1 tracks the performance of investment grade debt publicly issued in the major domestic and eurobond markets, including sovereign, quasi-government, corporate, securitized and collateralized securities and excludes all securities denominated in US dollars. You cannot invest directly in an index. 1Copyright 2011. BofA Merrill Lynch, Pierce, Fenner & Smith Incorporated. All rights reserved.

EXPENSES %

Net Expense Ratio effective since 07-01-15 1.03%
Gross Expense Ratio 1.05%

Important disclosure

The advisor has committed, through 02-29-16, 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 1.03%. Without this cap, the fund's returns would have been lower.

MORNINGSTAR RATINGS as of 07-31-2015

Category = World Bond
3-Year out of 306 fundsMorningstar Rating
5-Year out of 235 funds Morningstar Rating
10-Year out of 137 funds Morningstar RatingMorningstar Rating
Overall out of 306 fundsMorningstar 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

Bonos Y Oblig Del Estado Bonds, 1.40%, 2020-01-31 4.73%
Mex Bonos Desarr Fix Rt Bonds, 4.75%, 2018-06-14 4.66%
UK Tsy 2024 Bonds Regs, 2.75%, 2024-09-07 4.28%
Poland Government Bonds, 4.00%, 2023-10-25 4.27%
Bonos Y Oblig Del Estado 144A Regs, 2.15%, 2025-10-31 3.77%
Buoni Poliennali Del Tes Bonds, 2.50%, 2024-12-01 3.55%
Australian Government Sr Unsecured Regs, 3.25%, 2029-04-21 3.06%
Malaysia Government Sr, 3.79%, 2022-09-30 2.88%
U.S. Treasury N/b, 1.50%, 2022-01-31 2.64%
Korea Treasury Bond Sr, 3.12%, 2019-03-10 2.59%
Portfolio holdings are subject to change and may have changed since the date specified.

FUND STORY

PORTFOLIO MANAGERS


Anthony Norris

Anthony Norris
Years of investment
experience: 49


Peter Wilson

Peter Wilson
Years of investment
experience: 37


Michael Lee

Michael Lee
Years of investment
experience: 33


Alex Perrin

Alex Perrin
Years of investment
experience: 23


Christopher Wightman

Christopher Wightman
Years of investment
experience: 18


The Fund

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

Competitive Advantages

  • Team tenure and consistency: The team's four senior portfolio managers have been working together since 1992, dedicated to investing in international and global fixed-income markets. In that time, they have developed and mastered the use of proprietary quantitative models that identify relative-value opportunities across countries, currencies, sectors, and duration ranges.
  • Managed currency exposure: The team actively manages currency exposures in an effort to enhance returns and to aid in managing overall portfolio risk. Intricate models and optimizers are used to synthesize several inputs, including macroeconomic measurements of gross domestic product, inflation, monetary policy, and trade balances, as well as local market effects from yield curve structure, supply and demand technical factors, and credit risks. The models' outputs are then vetted through rigorous, bottom-up security analysis that seeks to select the best-performing risk-adjusted securities for the portfolio.

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 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, 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.

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