Wells Fargo Closed-End Funds Declare Monthly and Quarterly Distributions
August 15 2018 - 5:55PM
Business Wire
The Wells Fargo Income Opportunities Fund (NYSE American: EAD),
the Wells Fargo Multi-Sector Income Fund (NYSE American: ERC), the
Wells Fargo Utilities and High Income Fund (NYSE American: ERH) and
the Wells Fargo Global Dividend Opportunity Fund (NYSE: EOD) have
each announced a distribution.
Ticker
Fund name
Distributionper share
Frequency
Change
frompriordistribution
EAD Wells Fargo Income Opportunities Fund $0.05197 Monthly – ERC*
Wells Fargo Multi-Sector Income Fund $0.10613 Monthly -$0.00053 ERH
Wells Fargo Utilities and High Income Fund $0.07500 Monthly – EOD*
Wells Fargo Global Dividend Opportunity Fund $0.15956 Quarterly
-$0.00411
The following dates apply to today’s distribution declaration
for each fund:
Declaration date August 15, 2018Ex-dividend date September 14,
2018Record date September 17, 2018Payable date October 1, 2018
*This fund makes distributions in accordance with a managed
distribution plan that provides for the declaration of monthly
distributions (in the case of the Wells Fargo Multi-Sector Income
Fund) or quarterly distributions (in the case of the Wells Fargo
Global Dividend Opportunity Fund) to common shareholders of the
fund at an annual minimum fixed rate of 9% for the Wells Fargo
Multi-Sector Income Fund and 10% for the Wells Fargo Global
Dividend Opportunity Fund based on the fund’s average monthly net
asset value (NAV) per share over the prior 12 months. Under the
managed distribution plan, distributions are sourced from income
and also may be sourced from paid-in capital and/or capital gains.
The fund’s distributions in any period may be more or less than the
net return earned by the fund on its investments and therefore
should not be used as a measure of performance or confused with
yield or income. Distributions in excess of fund returns will cause
the fund’s NAV to decline. Investors should not draw any
conclusions about the fund’s investment performance from the amount
of its distribution or from the terms of its managed distribution
plan.
The Wells Fargo 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 Multi-Sector Income Fund is a closed-end income
fund. The fund’s 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 Utilities and High Income Fund is a closed-end
equity and high-yield bond fund. The fund’s 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 Global Dividend Opportunity Fund is a closed-end
equity and high-yield bond fund. 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 final determination of the source of all distributions is
subject to change and is made after year-end. 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.
For more information on Wells Fargo’s closed-end funds, please
visit our website.
These closed-end funds are no longer engaged in initial
public offerings, and shares are available only 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
through broker/dealers in the secondary marketplace, and the market
price of the shares is determined by supply and demand, not by 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. 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. When interest rates rise, the
value of debt securities tends to fall. When interest rates
decline, interest that a fund is able to earn on its investments in
debt securities also may decline, but the value of those securities
may increase. Changes in market conditions and government policies
may lead to periods of heightened volatility in the debt securities
market and reduced liquidity for certain fund investments. Interest
rate changes and their impact on the funds and their NAVs can be
sudden and unpredictable.
The use of leverage results in certain risks, including, among
others, the likelihood of greater volatility of the NAV 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 Asset Management (WFAM) is the trade name for
certain investment advisory/management firms owned by Wells Fargo
& Company. These firms include but are not limited to Wells
Capital Management Incorporated and Wells Fargo Funds Management,
LLC. Certain products managed by WFAM entities are distributed by
Wells Fargo Funds Distributor, LLC (a broker/dealer and Member
FINRA).
This material is for general informational and educational
purposes only and is NOT intended to provide investment advice or a
recommendation of any kind—including a recommendation for any
specific investment, strategy, or plan.
315140 8-18
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.
NOT FDIC INSURED • NO BANK GUARANTEE • MAY
LOSE VALUE
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Shareholder inquiries1-800-730-6001orFinancial advisor
inquiries1-888-877-9275orMedia contact:Robert Julavits,
212-260-2448robert.w.julavits@wellsfargo.com
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