Subadvisor for Wells Fargo Multi-Sector Income Fund Changes Its Name
January 31 2018 - 9:15AM
Business Wire
Effective today, January 31, 2018, First International Advisors,
LLC, subadvisor to the Wells Fargo Multi-Sector Income Fund (NYSE
American: ERC), has changed its legal entity name to Wells Fargo
Asset Management (International), LLC. Wells Fargo Asset Management
(International) is an indirect wholly owned subsidiary of Wells
Fargo & Company and an affiliate of Wells Fargo Funds
Management, LLC, the fund’s investment advisor. There will be no
change to the portfolio management team, investment philosophy, or
process as a result of this change.
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 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 only available 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. The fund is exposed to
mortgage- and asset-backed securities risk. 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 may also 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 a trade name used by the
asset management businesses of Wells Fargo & Company. Wells
Fargo Funds Management, LLC, a wholly owned subsidiary of Wells
Fargo & Company, provides investment advisory and
administrative services for Wells Fargo Funds. Other affiliates of
Wells Fargo & Company provide subadvisory and other services
for the funds. This material is prepared by Wells Fargo Funds
Distributor, LLC, Member FINRA, an affiliate of Wells Fargo
& Company. Neither Wells Fargo Funds Distributor nor Wells
Fargo Funds Management holds fund shareholder accounts or assets.
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. 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.
308776 1-18
NOT FDIC INSURED • NO BANK GUARANTEE • MAY
LOSE VALUE
View source
version on businesswire.com: http://www.businesswire.com/news/home/20180131005181/en/
Shareholder inquiries, 1-800-730-6001Financial advisor
inquiries, 1-888-877-9275orMedia contact:Sarah Kerr,
212-260-1582skerr@wellsfargo.com
Wells Fargo (NYSE:WFC)
Historical Stock Chart
From Apr 2024 to May 2024
Wells Fargo (NYSE:WFC)
Historical Stock Chart
From May 2023 to May 2024