Wells Fargo Doubles the Number of Its Target Date Mutual Funds
July 02 2007 - 2:11PM
PR Newswire (US)
SAN FRANCISCO, July 2 /PRNewswire-FirstCall/ -- Wells Fargo
Advantage Funds(R) significantly expanded its lineup of Wells Fargo
Advantage Dow Jones Target Date Funds(SM) today, increasing the
number of Funds from five to 10. The launch of the new Funds
follows several other recent changes to upgrade and expand the fund
family's longstanding retirement product line. In June 2006, the
product line was re-launched with reduced expenses, a new
management team and a more sophisticated investment approach. The
addition of new no-load Investor Class shares for do-it-yourself
investors followed in January 2007. This is a significant expansion
to the Wells Fargo Advantage Funds Target Date Fund line-up. Dating
back to the Funds' inception in 1994, the line-up had consisted of
five Funds with target dates largely separated by 10-year
increments. For example, investors could select a Fund with a
target date that corresponded with their planned year of
retirement, choosing from Funds that matured in 2010, 2020, 2030,
or 2040. With the addition of five new Funds -- maturing in 2015,
2025, 2035, 2045, and 2050 -- Wells Fargo Advantage Fund clients
now have access to a more complete line-up and can select a Fund
tailored more closely to their planning needs. The expanded Target
Date Fund line-up: -- Wells Fargo Advantage Dow Jones Target Today
Fund(SM) -- Wells Fargo Advantage Dow Jones Target 2010 Fund(SM) --
Wells Fargo Advantage Dow Jones Target 2015 Fund(SM) ** -- Wells
Fargo Advantage Dow Jones Target 2020 Fund(SM) -- Wells Fargo
Advantage Dow Jones Target 2025 Fund(SM) ** -- Wells Fargo
Advantage Dow Jones Target 2030 Fund(SM) -- Wells Fargo Advantage
Dow Jones Target 2035 Fund(SM) ** -- Wells Fargo Advantage Dow
Jones Target 2040 Fund(SM) -- Wells Fargo Advantage Dow Jones
Target 2045 Fund(SM) ** -- Wells Fargo Advantage Dow Jones Target
2050 Fund(SM) ** **New Fund "In recent years, financial market
volatility and renewed concerns about retirement savings have
spurred retirement plan sponsors and investors to seek investment
vehicles that offer long-term diversification, asset allocation and
rebalancing components," said Andrew Owen, head of Wells Fargo Fund
Management's Investment Review and Product group. "With the
improvements we have made in the past 12 months, we believe clients
now have access to a best of breed all-in-one retirement solution,
offering a more sophisticated risk allocation strategy and greater
diversification among asset classes." ABOUT TARGET DATE FUNDS Wells
Fargo was one of the first to offer a target date product as a
mutual fund with the introduction of the Stagecoach LifePath Funds
in 1994. Target date or "lifecycle" funds are automatically
rebalanced on a regular basis and gradually grow more conservative
as the fund's target date indicated in the fund's name approaches.
In recent years, target date funds have grown in popularity due to
their simplicity, diversification, and automatic asset allocation
management. In 2006 alone, the number of assets invested in target
date funds across the mutual fund industry grew by 62% to a total
of more than $114 billion. (Source: Financial Research Corporation)
Wells Fargo Advantage Dow Jones Target Date Funds(R) have shown
increased resonance among investors since their re-launch in June
2006. Since that time more than 150 retirement plans have added the
Wells Fargo Advantage Dow Jones Target Date Funds(R) to their list
of investment options. 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(SM) and tomorrow's scholar(R) college savings
plans, as well as Wells Fargo Advantage Funds, a family of more
than 120 mutual funds across a wide range of asset classes,
representing more than $131 billion in total assets under
management, as of 5-31-07. 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. Investors should consider their own personal investment
horizon and risk tolerance when determining which investments are
right for them. Balanced funds may invest in stocks and bonds.
Stock 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. The use of derivatives
may reduce returns and/or increase volatility. Certain investment
strategies tend to increase the total risk of an investment
(relative to the broader market). These Funds are exposed to
foreign investment risk and smaller company investment risk.
Consult the Fund's prospectus for additional information on these
and other risks. Asset allocation and diversification do not assure
or guarantee better performance and cannot eliminate the risk of
investment losses. Other fees and expenses apply to an investment
in a no-load Fund and are described in the Fund's current
prospectus. "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
Advantage Dow Jones Target Date 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). 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. EdVest and tomorrow's scholar are state-sponsored 529
college savings plans administered by the Wisconsin Office of the
State Treasurer. Wells Fargo Funds Management, LLC, a wholly owned
subsidiary of Wells Fargo & Company, provides investment
advisory and administrative services for Wells Fargo Advantage
Funds, the EdVest and tomorrow's scholar plans, the Wells Fargo
Advisor program, and Wells Fargo Managed Account Services. Other
affiliates of Wells Fargo & Company provide subadvisory and
other services for the Funds. The Funds and shares in the 529 plans
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: Peter Greenley,
+1-415-222-1287, or John Roehm, +1-415-222-5338, both of Wells
Fargo Web site: http://www.wellsfargo.com/
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