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Wells Fargo, the owner of Wells Fargo Advantage Funds brand, is one of the four largest banks in the U.S. and has a legacy spanning 150 years in the financial services sector. With over $121.5 billion (excluding money market assets) of assets invested in more than 110 mutual funds, Wells Fargo Advantage Funds diversify their assets across a wide range of mutual fund categories. These include both domestic and foreign funds, asset allocation funds and fixed-income funds.
In 2010, the boards of trustees of Wells Fargo Advantage Funds and Evergreen Funds had approved the merger of the fund families to create a new fund lineup under the brand name Wells Fargo Advantage Funds. The Wells Fargo fund family claims that “each fund is guided by a premier investment team chosen for its focused attention to a particular investment style. There's a fund to meet the investment goals and risk tolerance of almost any investment portfolio.”
Wells Fargo Advantage Core Bond A (MBFAX - Free Report) seeks total return through growth of capital and income. MBFAX invests the majority of its assets in bonds that are rated investment-grade. MBFAX may invest a maximum of a quarter of its assets in asset-backed securities, which are not from the mortgage-backed category. Not more than one-fifth of MBFAX’s assets are expected to be invested in foreign debt securities that are denominated in dollar. MBFAX is expected to maintain a dollar-weighted average effective duration of not more than 10% of that of fund’s benchmark. Wells Fargo Advantage Core Bond A has a three-year annualized return of 3.9%.
As of May 2016, MBFAX held 778 issues with 4.41% of its assets invested in US Treasury Note 1.375%.
Wells Fargo High Yield Bond B invests its assets not only in securities of domestic and foreign companies but also in emerging markets. EKHBX invests a large portion of its assets in debt securities that are rated below investment-grade. The fund does not manage its portfolio for a specific duration. EHKBX seeks total return with high capital and income appreciation. Wells Fargo High Yield Bond B has a three-year annualized return of 4%.
Margaret D. Patel is the fund manager of EKHBX since Aug 2012.
Wells Fargo Short-Term Bond A (SSTVX - Free Report) seeks current income with preservation of capital. SSTVX invests a major portion of its assets in debt securities. SSTVX may invest not more than a quarter of its assets in foreign debt securities that are not denominated in the U.S. dollar. SSTVX may also invest a maximum of 15% of its assets in securities that are below investment-grade. SSTVX invests in securities including corporate and U.S. government obligations. Wells Fargo Short-Term Bond A has a three-year annualized return of 1.4%.
As of May 2016, SSTVX held 301 issues with 28.98% of its assets invested in Us 2yr Note (Cbt) Sep16 Xcbt 20160930.
By applying the Zacks Rank to mutual funds, investors can find funds that not only outpaced the market in the past but are also expected to outperform going forward. Pick the best mutual funds with the Zacks Rank.
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3 Zacks Rank #1 Wells Fargo Advantage Funds
Wells Fargo, the owner of Wells Fargo Advantage Funds brand, is one of the four largest banks in the U.S. and has a legacy spanning 150 years in the financial services sector. With over $121.5 billion (excluding money market assets) of assets invested in more than 110 mutual funds, Wells Fargo Advantage Funds diversify their assets across a wide range of mutual fund categories. These include both domestic and foreign funds, asset allocation funds and fixed-income funds.
In 2010, the boards of trustees of Wells Fargo Advantage Funds and Evergreen Funds had approved the merger of the fund families to create a new fund lineup under the brand name Wells Fargo Advantage Funds. The Wells Fargo fund family claims that “each fund is guided by a premier investment team chosen for its focused attention to a particular investment style. There's a fund to meet the investment goals and risk tolerance of almost any investment portfolio.”
Below we share with you three top-rated Wells Fargo Advantage Funds. Each has earned a Zacks Mutual Fund Rank #1 (Strong Buy) and is expected to outperform its peers in the future. Investors can click here to see the complete list of Wells Fargo Advantage funds, their Zacks Rank and past performance.
Wells Fargo Advantage Core Bond A (MBFAX - Free Report) seeks total return through growth of capital and income. MBFAX invests the majority of its assets in bonds that are rated investment-grade. MBFAX may invest a maximum of a quarter of its assets in asset-backed securities, which are not from the mortgage-backed category. Not more than one-fifth of MBFAX’s assets are expected to be invested in foreign debt securities that are denominated in dollar. MBFAX is expected to maintain a dollar-weighted average effective duration of not more than 10% of that of fund’s benchmark. Wells Fargo Advantage Core Bond A has a three-year annualized return of 3.9%.
As of May 2016, MBFAX held 778 issues with 4.41% of its assets invested in US Treasury Note 1.375%.
Wells Fargo High Yield Bond B invests its assets not only in securities of domestic and foreign companies but also in emerging markets. EKHBX invests a large portion of its assets in debt securities that are rated below investment-grade. The fund does not manage its portfolio for a specific duration. EHKBX seeks total return with high capital and income appreciation. Wells Fargo High Yield Bond B has a three-year annualized return of 4%.
Margaret D. Patel is the fund manager of EKHBX since Aug 2012.
Wells Fargo Short-Term Bond A (SSTVX - Free Report) seeks current income with preservation of capital. SSTVX invests a major portion of its assets in debt securities. SSTVX may invest not more than a quarter of its assets in foreign debt securities that are not denominated in the U.S. dollar. SSTVX may also invest a maximum of 15% of its assets in securities that are below investment-grade. SSTVX invests in securities including corporate and U.S. government obligations. Wells Fargo Short-Term Bond A has a three-year annualized return of 1.4%.
As of May 2016, SSTVX held 301 issues with 28.98% of its assets invested in Us 2yr Note (Cbt) Sep16 Xcbt 20160930.
To view the Zacks Rank and past performance of all Wells Fargo Advantage Funds, investors can click here to see the complete list of funds.
About Zacks Mutual Fund Rank
By applying the Zacks Rank to mutual funds, investors can find funds that not only outpaced the market in the past but are also expected to outperform going forward. Pick the best mutual funds with the Zacks Rank.