Wells Fargo Advantage Funds(SM) Add No-Load Share Classes to Target Date Funds
January 31 2007 - 10:00AM
PR Newswire (US)
SAN FRANCISCO, Jan. 31 /PRNewswire-FirstCall/ -- Wells Fargo Funds
Management, LLC, today announced the addition of a no-load share
class to its entire target date fund lineup. In conjunction with
the introduction of the new share class, the existing Class A, B,
and C shares will close to new investors. Existing A, B, and C
shareholders may continue to make subsequent purchases into these
share classes of the Target Date Funds. "We have introduced the
no-load share class with the goal of assisting the do-it-yourself
investor who is seeking a long-term asset allocation retirement
solution," said Andrew Owen, head of Wells Fargo Fund Management's
Investment Review and Product Group. "Additionally, the new share
class provides a seamless avenue for retirement investors who wish
to roll over their 401(k) assets." The new no-load share classes
applies to the following Wells Fargo Advantage Funds: -- Wells
Fargo Advantage Dow Jones Target Today Fund(SM) -- Wells Fargo
Advantage Dow Jones Target 2010 Fund(SM) -- Wells Fargo Advantage
Dow Jones Target 2020 Fund(SM) -- Wells Fargo Advantage Dow Jones
Target 2030 Fund(SM) -- Wells Fargo Advantage Dow Jones Target 2040
Fund(SM) FACTS ABOUT TARGET DATE FUNDS -- How they work: Designed
as an all-in-one solution that investors can "set and forget,"
target date funds strive to systematically reduce risk over time,
following a prepublished glide path and adjusting overall exposure
to stocks, bonds, and cash as the target date approaches. Wells
Fargo was one of the first to offer a target date product as a
mutual fund in 1994. -- Fast growth: Assets in target date funds
grew 60% in 2005, from $43.8 billion to $70.1 billion, according to
the Financial Research Corporation. -- Investor interest: 73% of
workers (both participants and nonparticipants) said they would be
interested in their assets being managed for them in a target date
fund (34% were very interested), according to the Employee Benefit
Research Institute, April 2006. Wells Fargo Funds Management, LLC,
a wholly owned subsidiary of Wells Fargo & Company, offers
investment solutions for individual and institutional investors.
The firm manages the EdVest and tomorrow's scholar College Savings
Plans, as well as the Wells Fargo Advantage Funds, a family of 120
mutual funds across a wide range of asset classes, representing
more than $116 billion in assets under management, as of 9-30-06.
Wells Fargo Funds Management also provides portfolio management
services through its Wells Fargo Advisor(SM) program, and
customized investment solutions through Wells Fargo Managed Account
Services, which is a program of professionally managed portfolios
consisting of individual securities. Carefully consider a fund's
investment objectives, risks, charges, and expenses before
investing. For a current prospectus, containing this and other
information, call 1-800-222-8222 or visit our Web site,
http://www.wellsfargo.com/advantagefunds. Read it carefully before
investing. Balanced funds may invest in stocks and bonds. Stocks
should only be considered for long-term goals as values fluctuate
in response to the activities of individual companies and general
market and economic conditions. Bond values fluctuate in response
to the financial condition of individual issuers, general market
and economic conditions, and changes in interest rates. In general,
when interest rates rise, bond values fall and investors may lose
principal value. Investment strategies that emphasize particular
market segments or fewer securities tend to increase the total risk
of an investment (relative to the broader market). This fund is
exposed to foreign investments risk, small cap risk, and mid cap
risk. Consult the Fund's prospectus for additional information on
these and other risks. "Dow Jones" and "Dow Jones Target Date
Indexes" are service marks of Dow Jones & Company, Inc., and
have been licensed for use for certain purposes by Global Index
Advisors, Inc., and Wells Fargo Funds Management, LLC. The Wells
Fargo Dow Jones Target Funds, based on the Dow Jones Target Date
Indexes are not sponsored, endorsed, sold or promoted by Dow Jones,
and Dow Jones makes no representation regarding the advisability of
investing in such product(s). Wells Fargo Funds Management, LLC, a
wholly owned subsidiary of Wells Fargo & Company, provides
investment advisory and administrative services for Wells Fargo
Advantage Funds(SM). Other affiliates of Wells Fargo & Company
provide subadvisory and other services for the Funds. The Funds are
distributed by Wells Fargo Funds Distributor, LLC, Member
NASD/SIPC, an affiliate of Wells Fargo & Company. NOT FDIC
INSURED * NO BANK GUARANTEE * MAY LOSE VALUE DATASOURCE: Wells
Fargo Funds Management, LLC CONTACT: John Roehm of Wells Fargo,
+1-415-222-5338 Web site: http://www.wellsfargo.com/
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