The Wells Fargo Advantage Income Opportunities Fund (NYSE MKT:
EAD), the Wells Fargo Advantage Multi-Sector Income Fund (NYSE MKT:
ERC) the Wells Fargo Advantage Utilities and High Income Fund (NYSE
MKT: ERH), and the Wells Fargo Advantage Global Dividend
Opportunity Fund (NYSE: EOD) each announced today its dividend
declaration. The Wells Fargo Advantage Global Dividend Opportunity
Fund also announced a portfolio management change.
The Wells Fargo Advantage Income Opportunities Fund is a
closed-end high-yield bond fund. The fund’s investment objective is
to seek a high level of current income. The fund may, as a
secondary objective, seek capital appreciation to the extent it is
consistent with its investment objective.
The Wells Fargo Advantage Income Opportunities Fund declared the
following monthly dividend:
Declaration date
Ex-dividend date Record date Payable date
Dividend/share August 14, 2013 September 13, 2013 September
17, 2013 October 1, 2013 $0.068/share
The Wells Fargo Advantage Multi-Sector Income Fund is a
closed-end bond fund. The fund’s primary investment objective is to
seek a high level of current income consistent with limiting its
overall exposure to domestic interest-rate risk.
The Wells Fargo Advantage Multi-Sector Income Fund declared the
following monthly dividend:
Declaration date
Ex-dividend date Record date Payable date
Dividend/share August 14, 2013 September 13, 2013 September
17, 2013 October 1, 2013 $0.10/share
The Wells Fargo Advantage Utilities and High Income Fund is a
closed-end equity and high-yield bond fund. The fund’s primary
investment objective is to seek a high level of current income and
moderate capital growth, with an emphasis on providing
tax-advantaged dividend income.
The Wells Fargo Advantage Utilities and High Income Fund
declared the following monthly dividend:
Declaration date
Ex-dividend date Record date Payable date
Dividend/share August 14, 2013 September 13, 2013 September
17, 2013 October 1, 2013 $0.075/share
The Wells Fargo Advantage Global Dividend Opportunity Fund is a
closed-end fund investing primarily in a diversified portfolio of
common stocks of U.S. and non-U.S. companies. The fund’s investment
objective is to seek a high level of current income. The fund’s
secondary objective is long-term growth of capital.
The Wells Fargo Advantage Global Dividend Opportunity Fund
declared the following quarterly dividend from ordinary income:
Declaration date
Ex-dividend date Record date Payable date
Dividend rate/share August 14, 2013 September 13, 2013
September 17, 2013 October 1, 2013 $0.210/share
The final determination of the source of all dividend
distributions in the current year will be made after year-end. The
actual amounts and sources of the amounts for tax reporting
purposes will depend upon a fund’s investment experience during the
remainder of the fiscal year and may be subject to change based on
tax regulations. Each fund will send shareholders a Form 1099-DIV
for the calendar year that will tell shareholders how to report
these distributions for federal income tax purposes.
Portfolio management change: Wells Fargo
Advantage Global Dividend Opportunity Fund
Christian L. Chan, CFA, and Kandarp Acharya, CFA, FRM (Financial
Risk Manager), of the Wells Capital Management Solutions team will
be replacing Portfolio Manager Jeffrey P. Mellas as members of the
portfolio management team of the Wells Fargo Advantage Global
Dividend Opportunity Fund. The change will be effective on
September 16, 2013.
Chan and Acharya will assume Mellas’ role in implementing the
options strategy of the Wells Fargo Advantage Global Dividend
Opportunity Fund using quantitative and statistical analysis.
Portfolio Manager Timothy O’Brien, CFA, will continue in his role
managing the portion of the fund invested in equity securities.
Christian Chan, CFA, is a senior portfolio manager at Wells
Capital Management, Inc., (WellsCap) and head of the WellsCap
Solutions team. His prior positions include roles as the head of
investments and portfolio manager on several asset allocation funds
at Wells Fargo Funds Management, LLC, and quantitative research
manager at an institutional investment consultancy.
Kandarp Acharya, CFA, FRM, is a senior portfolio manager at
Wells Capital Management, Inc., and a member of the WellsCap
Solutions team. His background is in quantitative research,
development of capital markets expectations, multi-asset class
market risk modeling, risk management, and hedging and optimization
strategies. His prior positions include roles in quantitative
research, portfolio management, risk management, fixed-income
analysis, and software development.
These closed-end funds are no longer offered as an initial
public offering, and shares are only offered through broker/dealers
on the secondary market. Unlike an open-end mutual fund, a
closed-end fund offers a fixed number of shares for sale. After the
initial public offering, shares are bought and sold in the
secondary marketplace, and the market price of the shares is
determined by supply and demand, not by net asset value (NAV), and
is often lower than the NAV. A closed-end fund is not required to
buy its shares back from investors upon request.
High-yield, lower-rated bonds may contain more risk due to the
increased possibility of default. Foreign investments may contain
more risk due to the inherent risks associated with changing
political climates, foreign market instability, and foreign
currency fluctuations. Risks of international investing are
magnified in emerging or developing markets. Funds that concentrate
their investments in a single industry or sector may face increased
risk of price fluctuation over more diversified funds due to
adverse developments within that industry or sector. Nondiversified
funds may face increased risk of price fluctuation over more
diversified funds due to adverse developments within certain
sectors. Small- and mid-cap securities may be subject to special
risks associated with narrower product lines and limited financial
resources compared with their large-cap counterparts. The use of
leverage results in certain risks including, among others, the
likelihood of greater volatility of net asset value and the market
price of common shares. Derivatives involve additional risks,
including interest-rate risk, credit risk, the risk of improper
valuation, and the risk of noncorrelation to the relevant
instruments they are designed to hedge or to closely track. There
are numerous risks associated with transactions in options on
securities. Illiquid securities may be subject to wide fluctuations
in market value and may be difficult to sell.
Wells Fargo Funds Management, LLC, a wholly owned subsidiary of
Wells Fargo & Company, provides investment advisory and
administrative services for Wells Fargo Advantage Funds®. Other
affiliates of Wells Fargo & Company provide subadvisory and
other services for the funds. This material is being prepared by
Wells Fargo Funds Distributor, LLC, Member FINRA/SIPC, an
affiliate of Wells Fargo & Company.
Some of the information contained herein may include
forward-looking statements about the expected investment activities
of the funds. These statements provide no assurance as to the
funds’ actual investment activities or results. The reader must
make his/her own assessment of the information contained herein and
consider such other factors as he/she may deem relevant to his/her
individual circumstances. 219026 08-13
NOT FDIC INSURED • NO BANK GUARANTEE • MAY LOSE VALUE
Wells Fargo Funds ManagementShareholder
inquiries1-800-730-6001orFinancial advisor
inquiries1-888-877-9275orMedia Contact:John Roehm,
415-222-5338john.o.roehm@wellsfargo.com
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