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With over $1.2 trillion in assets, Wells Fargo & Company is a highly diversified financial services company with operations spanning the globe. Wells Fargo is one of the four largest banks in the US and has a legacy spanning 150 years in the financial services sector. The company offers banking, insurance, investments and mortgage products through a network of 9,000 stores and other distribution channels. This wide and extensive financial network, spanning more than 80 businesses is run by a team consisting of 278,000 members.
Below we will share with you 5 top rated Wells Fargo mutual funds. Each has earned a Zacks #1 Rank (Strong Buy) as we expect these mutual funds to outperform their peers in the future. View the Zacks Rank and past performance of all mutual funds.
Wells Fargo Advantage Diversified Capital Builder A ( EKBAX - MF report ) seeks both current income and capital appreciation. The fund purchases both equity and fixed income securities, focusing on equity investments. Not more than 30% of its assets may be invested in corporate debt rated below investment-grade. The fund has returned 21.4% over the last one year period.
Margaret D. Patel is the fund manager and has managed this Wells Fargo mutual fund since 2007.
Wells Fargo Advantage Utility &Telecom A (EVUAX) invests the majority of its assets in utility and telecomm companies. Not more than 35% of its assets may be utilized to purchase convertible debentures. Up to 30% of its assets may be invested in foreign securities, including ADRs. The fund has a five year annualized return of 5.38%.
The Wells Fargo mutual fund has a minimum initial investment of $1,000 and an expense ratio of 1.13% compared to a category average of 1.43%.
Wells Fargo Advantage Discovery ( STDIX - MF report ) seeks long term capital growth. Equity securities of small and mid-cap companies with the potential for above average growth constitute the fund’s major investments. The fund has returned 34.82% over the last one year period.
As of November 2010, this Wells Fargo mutual fund held 66 issues, with 3.00% of its total assets invested in Concho Resources, Inc.
Wells Fargo Advantage Enterprise A (SENAX) invests in equity securities of companies regardless of their size. However, it concentrates on purchasing stocks of mid-cap companies which are included in the Russell Midcap index. It may also utilize instruments such as ADRs to invest in foreign securities. The fund has a ten year annualized return of 2.08%.
Thomas J. Pence is the fund manager and has managed this Wells Fargo mutual fund since 2000.
Wells Fargo Advantage Growth Balanced A (WFGBX) seeks invests in both fixed-income and equity securities. Under normal circumstances, 65% of its assets are invested in equity and 35% is invested in debt. The fund has returned 13.56% over the last one year period.
The Wells Fargo mutual fund has a minimum initial investment of $1,000 and an expense ratio of 1.20% compared to a category average of 1.01%.
To view the Zacks Rank and past performance of all mutual funds.
About Zacks Mutual Fund Rank
By applying the Zacks Rank to mutual funds, investors can find top mutual funds that not only outpaced the market in the past but are also expected to outperform going forward. Learn more about the Zacks Mutual Fund Rank.
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