Wells Fargo Asset Management Announces Change to the Wells Fargo Global Dividend Opportunity Fund Portfolio Management Team
May 03 2021 - 7:30AM
Business Wire
Wells Fargo Asset Management (WFAM) announced today that
Harindra de Silva, Ph.D., CFA, and Dennis Bein, CFA, will be added
as portfolio managers to the Wells Fargo Global Dividend
Opportunity Fund (NYSE: EOD) effective immediately. They will join
Megan Miller, CFA, in managing the fund’s options strategy. Michael
Schueller, CFA, Justin Carr, CFA, Vince Fioramonti, CFA, and Chris
Lee, CFA, remain as portfolio managers of the fund’s fixed-income
and equity sleeves. There are no changes to the investment
philosophy or process as a result of this change.
Portfolio Manager Bios
Harindra de Silva, Ph.D., CFA Harindra (“Harin”) de Silva is a
portfolio manager with the Analytic Investors team at Wells Fargo
Asset Management (WFAM). Before joining the team, Harin was a
principal at Analysis Group, Inc., where he was responsible for
providing economic research services to institutional investors,
including investment managers, large pension funds, and endowments.
He focuses on the ongoing research effort for equity and
factor-based asset allocation strategies. Harin has authored
several articles and studies on finance-related topics, including
stock market anomalies, market volatility, and asset valuation. He
was recognized with the prestigious Graham and Dodd Award of
Excellence for research published in the Financial Analysts Journal
in 2002 and 2005. Harin earned a bachelor’s degree in mechanical
engineering from the University of Manchester Institute of Science
and Technology, a master’s degree in business administration with
an emphasis in finance, a master’s degree in econometrics from the
University of Rochester, and a Ph.D. in finance from the University
of California, Irvine. He has earned the right to use the Chartered
Financial Analyst® (CFA®) designation.
Dennis Bein, CFA Dennis Bein is a portfolio manager for the
Analytic Investors team at Wells Fargo Asset Management (WFAM). He
focuses on day-to-day portfolio management and research related to
equity-based investment strategies. Prior to joining the Analytic
Investors team, Dennis was a senior consultant for Analysis Group,
Inc., where he provided investment consulting services for
institutional investors and plan sponsors. He began his investment
industry career in 1990. Dennis earned a bachelor’s degree in
business administration and a master’s degree in business
administration with an emphasis in finance from the University of
California, Riverside. He has earned the right to use the Chartered
Financial Analyst® (CFA®) designation.
Disclosures
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.
For more information on Wells Fargo’s closed-end funds, please
visit our website.
This closed-end fund is 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.
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. Readers must make
their own assessment of the information contained herein and
consider such other factors as they may deem relevant to their
individual circumstances.
PAR-0421-01777
INVESTMENT PRODUCTS: NOT FDIC INSURED ● NO
BANK GUARANTEE ● MAY LOSE VALUE
WF-CF
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Media Jeanette Foster, 415-264-1323
jeanette.d.foster@wellsfargo.com
Shareholder inquiries 1-800-730-6001
Financial advisor inquiries 1-888-877-9275
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