Wells Fargo Global Divid... (NYSE:EOD)
Historical Stock Chart
1 Year : From Oct 2018 to Oct 2019
Effective April 1, 2019, Andrew Tuttle, CFA, of Crow Point Partners,
LLC, will no longer be a portfolio manager for the Wells Fargo Global
Dividend Opportunity Fund (NYSE: EOD) and the Wells Fargo Utilities and
High Income Fund (NYSE American: ERH).1 Crow Point Partners
is a subadvisor to the two affected funds.
Kandarp Acharya, CFA, FRM; Christian Chan, CFA; Niklas Nordenfelt, CFA;
Timothy O’Brien, CFA; and Philip Susser will continue their roles as
portfolio managers for the Wells Fargo Global Dividend Opportunity Fund.
The fund’s investment philosophy and processes will remain the same. The
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. Its secondary objective is long-term growth of capital.
Niklas Nordenfelt, CFA; Timothy O’Brien, CFA; and Philip Susser will
continue their roles as portfolio managers for the Wells Fargo Utilities
and High Income Fund. The fund’s investment philosophy and processes
will remain the same. The Utilities and High Income Fund is a closed-end
equity and high-yield bond fund. Its investment objective is to seek a
high level of current income and moderate capital growth, with an
emphasis on providing tax-advantaged dividend income.
1. WFAM is an indirect wholly owned subsidiary of Wells Fargo & Company
and an affiliate of Wells Fargo Funds Management, LLC, the investment
advisor to the Wells Fargo Global Dividend Opportunity Fund and the
Wells Fargo Utilities and High Income Fund. Crow Point Partners and
Wells Capital Management Incorporated are subadvisors to the closed-end
Wells Fargo Global Dividend Opportunity Fund and Wells Fargo Utilities
and High Income Fund.
These closed-end funds are no longer engaged in initial public
offerings, 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 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
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. 321750 03-19
INVESTMENT PRODUCTS: NOT FDIC INSURED ● NO BANK GUARANTEE ● MAY LOSE
View source version on businesswire.com: https://www.businesswire.com/news/home/20190318005208/en/
Shareholder inquiries1-800-730-6001Financial advisor
Media contact:Robert Julavits917email@example.com