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3 Best-Ranked Wells Fargo Advantage Funds to Buy Now

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Wells Fargo Advantage Funds manages more than $356 billion of assets (as of 30, September, 2016) from diverse mutual funds categories. The fund family manages more than 110 mutual funds, from domestic and foreign funds to money market funds, asset allocation funds and fixed-income funds. The Wells Fargo Fund family claims that it offers “funds in every key category, each guided by professional investment teams who have been chosen because of their proven, time-tested strategies.” The team also helps investors to clarify their investment ideas and identifies their “risk tolerance.”

Additionally, the owner of Wells Fargo Advantage Funds brand, Wells Fargo, is one of the top four banks in the U.S. and has been maintaining its standard in the financial services sector for more than 150 years. It is a highly diversified financial services company with operations limited not only to the domestic market. In 2010, the Boards of Trustees of Wells Fargo Advantage Funds and Evergreen Funds had approved the merger of the fund families to create the new fund line-up under the Wells Fargo Advantage Funds brand.

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. To view the Zacks Rank and past performance of all Wells Fargo Advantage Funds, investors can click here to see the complete list of Wells Fargo Advantage Funds.

Wells Fargo Short-Term Municipal Bond A (WSMAX - Free Report) invests a bulk of its assets in municipal debt securities that are free from federal income tax. WSMAX seeks tax-exempted income as well as capital preservation. The fund may also invest around one-fifth of its assets in securities whose interest is subjected to federal alternative minimum tax (AMT). It normally has a maturity period of three years and lower. Wells Fargo Short-Term Municipal Bond Ahas a three-year annualized return of 0.6%.

As of December 2016, WSMAX held 766 issues with 1.51% of its assets invested in Indiana St Fin Auth 5%.

Wells Fargo International Equity A (WFEAX - Free Report) seeks capital growth over the long run. WFEAX invests the lion’s share of its assets in equity securities of companies located in foreign lands. The fund invests a maximum of 30% of its assets in securities issued in emerging nations. WFEAX is believed to allocate its assets across a minimum of three countries, which may also include the U.S. It invests in equity securities including preferred stock, common stock and American Depositary Receipts (ADRs). Wells Fargo International Equity A has a three-year annualized return of 3%.

WFEAX has an expense ratio of 1.12% as compared to the category average of 1.15%.

Wells Fargo Ultra Short-Term Muni Income A (SMAVX - Free Report) invests the lion’s share of its assets which are exempted from federal income tax. WSMAX seeks tax-exempted income as well as capital preservation. The fund may also invest nearly 20% of its assets in securities whose interest is subjected to federal alternative minimum tax (AMT). It generally has a maturity period of 1 year and lower. Wells Fargo Ultra Short-Term Muni Income Ahas a three-year annualized return of 0.1%.

Wendy Casetta is one of the fund managers of SMAVX since 2005.

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.

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