Growth Fund Summary
Class/Ticker: Administrator Class - SGRKX
Summary Prospectus
December 1, 2011
Link to Prospectus |
Link to SAI |
Before you invest, you may want to review the Fund's prospectus, which contains more information about the Fund and its risks. You can find the Fund's prospectus and other information about the Fund online at wellsfargo.com/advantagefunds. You can also get information at no cost by calling 1-800-222-8222, or by sending an email request to wfaf@wellsfargo.com. The current prospectus ("Prospectus") and statement of additional information ("SAI"), dated December 1, 2011, are incorporated by reference into this summary prospectus. The Fund's SAI may be obtained, free of charge, in the same manner as the Prospectus.
Investment Objective
The Fund seeks long-term capital appreciation.
Fees and Expenses
These tables are intended to help you understand the various costs and expenses you will pay if you buy and hold shares of the Fund.
Shareholder Fees (fees paid directly from your investment) |
|
|
|
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) |
None |
Maximum deferred sales charge (load) (as a percentage of offering price) |
None |
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) |
|
|
|
Management Fees |
0.66% |
Distribution (12b-1) Fees |
0.00% |
Other Expenses |
0.42% |
Total Annual Fund Operating Expenses |
1.08% |
Fee Waivers |
0.12% |
Total Annual Fund Operating Expenses After Fee Waiver1 |
0.96% |
1. | The Adviser has committed through November 30, 2012 to waive fees and/or reimburse expenses to the extent necessary to cap the Fund's Total Annual Fund Operating Expenses After Fee Waiver, excluding certain expenses, at the amount shown above. After this time, such cap may be changed or the commitment to maintain the cap may be terminated only with the approval of the Board of Trustees. |
Example of Expenses
The example below is intended to help you compare the costs of investing in the Fund with the costs of investing in other mutual funds. The example assumes a $10,000 initial investment, 5% annual total return, and that operating expenses remain the same as in the tables above. The example also assumes that the Total Annual Fund Operating Expenses After Fee Waiver shown above will only be in place for the length of the current waiver commitment. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
|
|
After: |
|
1 Year |
$98 |
3 Years |
$332 |
5 Years |
$584 |
10 Years |
$1,306 |
Portfolio Turnover
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 54% of the average value of its portfolio.
Principal Investment Strategies
Under normal circumstances, we invest at least 80% of the Fund's total assets in equity securities and up to 25% of the Fund's total assets in equity securities of foreign issuers through ADRs and similar investments.
We invest principally in equity securities of companies that we believe have prospects for robust and sustainable growth of
revenues and earnings. We select equity securities of companies of all market capitalizations. We may also invest in equity
securities of foreign issuers through ADRs and similar investments.
We focus on companies that dominate their market, are establishing new markets or are undergoing dynamic change. We believe
earnings and revenue growth relative to expectations are critical factors in determining stock price movements. Thus, our
investment process is centered around finding companies with under-appreciated prospects for robust and sustainable growth
in earnings and revenue. To find that growth, we use bottom-up research, emphasizing companies whose management teams have
a history of successfully executing their strategy and whose business model has sufficient profit potential. We forecast revenue
and earnings revision opportunities, along with other key financial metrics to assess investment potential. We then combine
that company-specific analysis with our assessment of secular and timeliness trends to form a buy/sell decision about a particular
stock. We may invest in any sector, and at times we may emphasize one or more particular sectors. We sell a company's securities
when we see deterioration in fundamentals that leads us to become suspicious of a company's prospective growth profile or
the profitability potential of its business model, as this often leads to lower valuation potential. We may also sell or trim
a position when we need to raise money to fund the purchase of a better idea or when valuation is extended beyond our bullish
expectations.
Principal Investment Risks
An investment in the Fund is not a deposit of Wells Fargo Bank, N.A. or its affiliates and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency.
Foreign Investment Risk. Foreign investments face the potential of heightened illiquidity, greater price volatility and adverse effects of political, regulatory, tax, currency, economic or other macroeconomic developments.
Growth Style Investment Risk. Growth stocks may be more expensive relative to the values of other stocks and carry potential for significant volatility and loss.
Issuer Risk. The value of a security may decline because of adverse events or circumstances that directly relate to conditions at the issuer or any entity providing it credit or liquidity support.
Larger Company Securities Risk. Securities of companies with larger market capitalizations may underperform securities of companies with smaller and mid-sized market capitalizations in certain economic environments.
Liquidity Risk. A security may not be able to be sold at the time desired or without adversely affecting the price.
Management Risk. There is no guarantee of the Fund's performance or that the Fund will meet its objective. The market value of your investment may decline and you may suffer investment loss.
Market Risk. The market price of securities owned by the Fund may rapidly or unpredictably decline due to factors affecting securities markets generally or particular industries.
Regulatory Risk. Changes in government regulations may adversely affect the value of a security. An insufficiently regulated industry or market might also permit inappropriate practices that adversely affect an investment.
Sector Emphasis Risk. Investing a substantial portion of the Fund's assets in related industries or sectors may have greater risks because companies in these sectors may share common characteristics and may react similarly to market developments.
Smaller Company Securities Risk. Securities of companies with smaller market capitalizations tend to be more volatile and less liquid than larger company stocks.
Performance
The following information provides some indication of the risks of investing in the Fund by showing changes in the Fund's performance from year to year. The Fund's average annual total returns are compared to the performance of an appropriate broad-based index(es). Past performance before and after taxes is no guarantee of future results. Current month-end performance is available on the Fund's Web site at wellsfargo.com/advantagefunds.
Calendar Year Total Returns as of 12/31 each year
Administrator Class
Highest Quarter: 2nd Quarter 2009 +18.49% Lowest Quarter: 1st Quarter 2001 -27.43% Year-to-date total return as of 9/30/2011 is -1.52%
Average Annual Total Returns for the periods ended 12/31/2010 |
||||
|
Inception Date of Share Class |
1 Year |
5 Year |
10 Year |
Administrator Class (before taxes) |
8/30/2002 |
26.61% |
9.22% |
2.20% |
Administrator Class (after taxes on distributions) |
8/30/2002 |
26.61% |
9.22% |
2.19% |
Administrator Class (after taxes on distributions and the sale of Fund Shares) |
8/30/2002 |
17.29% |
8.03% |
1.89% |
Russell 3000® Growth Index (reflects no deduction for fees, expenses, or taxes) |
17.64% |
3.88% |
0.30% |
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state, local or foreign taxes. Actual after-tax returns depend on an investor's tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) Plans or Individual Retirement Accounts.
Fund Management
Adviser |
Sub-Adviser |
Portfolio Manager, Title / Managed Since |
Wells Fargo Funds Management, LLC |
Wells Capital Management Incorporated |
Joseph M. Eberhardy, CFA, CPA, Portfolio Manager / 2008 |
Transaction Policies
Administrator Class shares are offered for direct investment by institutions such as pension and profit sharing plans, employee benefit trusts, endowments, foundations and corporations. Administrator Class shares may also be offered through certain financial intermediaries that may charge their customers transaction or other fees.
Institutions Purchasing Fund Shares |
To Place Orders or Redeem Shares |
Minimum Initial Investment |
Mail: Wells Fargo Advantage Funds |
In general, you can buy or sell shares of the Fund by mail, internet, phone or wire on any business day. You also may buy and sell shares through a financial professional.
Tax Information
Any distributions you receive from the Fund may be taxable as ordinary income or capital gains, except when your investment is in an IRA, 401(k) or other tax advantaged investment plan. You should consult your tax adviser about your specific tax situation.
Payments to Broker-Dealers and Other Financial Intermediaries
If you purchase a Fund through a broker-dealer or other financial intermediary (such as a bank), the Fund and its related companies may pay the intermediary for the sale of Fund shares and related services. These payments may create a conflict of interest by influencing the broker-dealer or other intermediary and your salesperson to recommend the Fund over another investment. Consult your salesperson or visit your financial intermediary's Web site for more information.
Link to Prospectus |
Link to SAI |
Growth Fund Summary
Class/Ticker: Institutional Class - SGRNX
Summary Prospectus
December 1, 2011
Link to Prospectus |
Link to SAI |
Before you invest, you may want to review the Fund's prospectus, which contains more information about the Fund and its risks. You can find the Fund's prospectus and other information about the Fund online at wellsfargo.com/advantagefunds. You can also get information at no cost by calling 1-800-222-8222, or by sending an email request to wfaf@wellsfargo.com. The current prospectus ("Prospectus") and statement of additional information ("SAI"), dated December 1, 2011, are incorporated by reference into this summary prospectus. The Fund's SAI may be obtained, free of charge, in the same manner as the Prospectus.
Investment Objective
The Fund seeks long-term capital appreciation.
Fees and Expenses
These tables are intended to help you understand the various costs and expenses you will pay if you buy and hold shares of the Fund.
Shareholder Fees (fees paid directly from your investment) |
|
|
|
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) |
None |
Maximum deferred sales charge (load) (as a percentage of offering price) |
None |
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)1 |
|
|
|
Management Fees |
0.66% |
Distribution (12b-1) Fees |
0.00% |
Other Expenses |
0.15% |
Total Annual Fund Operating Expenses |
0.81% |
Fee Waivers |
0.06% |
Total Annual Fund Operating Expenses After Fee Waiver2 |
0.75% |
1. | Expenses have been adjusted as necessary from amounts incurred during the Fund's most recent fiscal year to reflect current fees and expenses. |
2. | The Adviser has committed through November 30, 2012 to waive fees and/or reimburse expenses to the extent necessary to cap the Fund's Total Annual Fund Operating Expenses After Fee Waiver, excluding certain expenses, at the amount shown above. After this time, such cap may be changed or the commitment to maintain the cap may be terminated only with the approval of the Board of Trustees. |
Example of Expenses
The example below is intended to help you compare the costs of investing in the Fund with the costs of investing in other mutual funds. The example assumes a $10,000 initial investment, 5% annual total return, and that operating expenses remain the same as in the tables above. The example also assumes that the Total Annual Fund Operating Expenses After Fee Waiver shown above will only be in place for the length of the current waiver commitment. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
|
|
After: |
|
1 Year |
$77 |
3 Years |
$253 |
5 Years |
$444 |
10 Years |
$996 |
Portfolio Turnover
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 54% of the average value of its portfolio.
Principal Investment Strategies
Under normal circumstances, we invest at least 80% of the Fund's total assets in equity securities and up to 25% of the Fund's total assets in equity securities of foreign issuers through ADRs and similar investments.
We invest principally in equity securities of companies that we believe have prospects for robust and sustainable growth of
revenues and earnings. We select equity securities of companies of all market capitalizations. We may also invest in equity
securities of foreign issuers through ADRs and similar investments.
We focus on companies that dominate their market, are establishing new markets or are undergoing dynamic change. We believe
earnings and revenue growth relative to expectations are critical factors in determining stock price movements. Thus, our
investment process is centered around finding companies with under-appreciated prospects for robust and sustainable growth
in earnings and revenue. To find that growth, we use bottom-up research, emphasizing companies whose management teams have
a history of successfully executing their strategy and whose business model has sufficient profit potential. We forecast revenue
and earnings revision opportunities, along with other key financial metrics to assess investment potential. We then combine
that company-specific analysis with our assessment of secular and timeliness trends to form a buy/sell decision about a particular
stock. We may invest in any sector, and at times we may emphasize one or more particular sectors. We sell a company's securities
when we see deterioration in fundamentals that leads us to become suspicious of a company's prospective growth profile or
the profitability potential of its business model, as this often leads to lower valuation potential. We may also sell or trim
a position when we need to raise money to fund the purchase of a better idea or when valuation is extended beyond our bullish
expectations.
Principal Investment Risks
An investment in the Fund is not a deposit of Wells Fargo Bank, N.A. or its affiliates and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency.
Foreign Investment Risk. Foreign investments face the potential of heightened illiquidity, greater price volatility and adverse effects of political, regulatory, tax, currency, economic or other macroeconomic developments.
Growth Style Investment Risk. Growth stocks may be more expensive relative to the values of other stocks and carry potential for significant volatility and loss.
Issuer Risk. The value of a security may decline because of adverse events or circumstances that directly relate to conditions at the issuer or any entity providing it credit or liquidity support.
Larger Company Securities Risk. Securities of companies with larger market capitalizations may underperform securities of companies with smaller and mid-sized market capitalizations in certain economic environments.
Liquidity Risk. A security may not be able to be sold at the time desired or without adversely affecting the price.
Management Risk. There is no guarantee of the Fund's performance or that the Fund will meet its objective. The market value of your investment may decline and you may suffer investment loss.
Market Risk. The market price of securities owned by the Fund may rapidly or unpredictably decline due to factors affecting securities markets generally or particular industries.
Regulatory Risk. Changes in government regulations may adversely affect the value of a security. An insufficiently regulated industry or market might also permit inappropriate practices that adversely affect an investment.
Sector Emphasis Risk. Investing a substantial portion of the Fund's assets in related industries or sectors may have greater risks because companies in these sectors may share common characteristics and may react similarly to market developments.
Smaller Company Securities Risk. Securities of companies with smaller market capitalizations tend to be more volatile and less liquid than larger company stocks.
Performance
The following information provides some indication of the risks of investing in the Fund by showing changes in the Fund's performance from year to year. The Fund's average annual total returns are compared to the performance of an appropriate broad-based index(es). Past performance before and after taxes is no guarantee of future results. Current month-end performance is available on the Fund's Web site at wellsfargo.com/advantagefunds.
Calendar Year Total Returns as of 12/31 each year
Institutional Class
Highest Quarter: 2nd Quarter 2009 +18.55% Lowest Quarter: 1st Quarter 2001 -27.35% Year-to-date total return as of 9/30/2011 is -1.43%
Average Annual Total Returns for the periods ended 12/31/2010 |
||||
|
Inception Date of Share Class |
1 Year |
5 Year |
10 Year |
Institutional Class (before taxes) |
2/24/2000 |
26.83% |
9.39% |
2.40% |
Institutional Class (after taxes on distributions) |
2/24/2000 |
26.83% |
9.39% |
2.39% |
Institutional Class (after taxes on distributions and the sale of Fund Shares) |
2/24/2000 |
17.44% |
8.18% |
2.07% |
Russell 3000® Growth Index (reflects no deduction for fees, expenses, or taxes) |
17.64% |
3.88% |
0.30% |
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state, local or foreign taxes. Actual after-tax returns depend on an investor's tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) Plans or Individual Retirement Accounts.
Fund Management
Adviser |
Sub-Adviser |
Portfolio Manager, Title / Managed Since |
Wells Fargo Funds Management, LLC |
Wells Capital Management Incorporated |
Joseph M. Eberhardy, CFA, CPA, Portfolio Manager / 2008 |
Transaction Policies
Institutional Class shares are offered primarily for direct investment by institutions such as pension and profit sharing plans, employee benefit trusts, endowments, foundations and corporations. Institutional Class shares may also be offered through certain financial intermediaries that may charge their customers transaction or other fees.
Institutions Purchasing Fund Shares |
To Place Orders or Redeem Shares |
Minimum Initial Investment |
Mail: Wells Fargo Advantage Funds |
In general, you can buy or sell shares of the Fund by mail, internet, phone or wire on any business day. You also may buy and sell shares through a financial professional.
Tax Information
Any distributions you receive from the Fund may be taxable as ordinary income or capital gains, except when your investment is in an IRA, 401(k) or other tax advantaged investment plan. You should consult your tax adviser about your specific tax situation.
Payments to Broker-Dealers and Other Financial Intermediaries
If you purchase a Fund through a broker-dealer or other financial intermediary (such as a bank), the Fund and its related companies may pay the intermediary for the sale of Fund shares and related services. These payments may create a conflict of interest by influencing the broker-dealer or other intermediary and your salesperson to recommend the Fund over another investment. Consult your salesperson or visit your financial intermediary's Web site for more information.
Link to Prospectus |
Link to SAI |
Growth Fund Summary
Class/Ticker: Investor Class - SGROX
Summary Prospectus
December 1, 2011
Link to Prospectus |
Link to SAI |
Before you invest, you may want to review the Fund's prospectus, which contains more information about the Fund and its risks. You can find the Fund's prospectus and other information about the Fund online at wellsfargo.com/advantagefunds. You can also get information at no cost by calling 1-800-222-8222, or by sending an email request to wfaf@wellsfargo.com. The current prospectus ("Prospectus") and statement of additional information ("SAI"), dated December 1, 2011, are incorporated by reference into this summary prospectus. The Fund's SAI may be obtained, free of charge, in the same manner as the Prospectus.
Investment Objective
The Fund seeks long-term capital appreciation.
Fees and Expenses
These tables are intended to help you understand the various costs and expenses you will pay if you buy and hold shares of the Fund.
Shareholder Fees (fees paid directly from your investment) |
|
|
|
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) |
None |
Maximum deferred sales charge (load) (as a percentage of offering price) |
None |
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)1 |
|
|
|
Management Fees |
0.66% |
Distribution (12b-1) Fees |
0.00% |
Other Expenses |
0.65% |
Total Annual Fund Operating Expenses |
1.31% |
Fee Waivers |
0.02% |
Total Annual Fund Operating Expenses After Fee Waiver2 |
1.29% |
1. | Expenses have been adjusted as necessary from amounts incurred during the Fund's most recent fiscal year to reflect current fees and expenses. |
2. | The Adviser has committed through November 30, 2012 to waive fees and/or reimburse expenses to the extent necessary to cap the Fund's Total Annual Fund Operating Expenses After Fee Waiver, excluding certain expenses, at the amount shown above. After this time, such cap may be changed or the commitment to maintain the cap may be terminated only with the approval of the Board of Trustees. |
Example of Expenses
The example below is intended to help you compare the costs of investing in the Fund with the costs of investing in other mutual funds. The example assumes a $10,000 initial investment, 5% annual total return, and that operating expenses remain the same as in the tables above. The example also assumes that the Total Annual Fund Operating Expenses After Fee Waiver shown above will only be in place for the length of the current waiver commitment. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
|
|
After: |
|
1 Year |
$131 |
3 Years |
$413 |
5 Years |
$716 |
10 Years |
$1,577 |
Portfolio Turnover
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 54% of the average value of its portfolio.
Principal Investment Strategies
Under normal circumstances, we invest at least 80% of the Fund's total assets in equity securities and up to 25% of the Fund's total assets in equity securities of foreign issuers through ADRs and similar investments.
We invest principally in equity securities of companies that we believe have prospects for robust and sustainable growth of
revenues and earnings. We select equity securities of companies of all market capitalizations. We may also invest in equity
securities of foreign issuers through ADRs and similar investments.
We focus on companies that dominate their market, are establishing new markets or are undergoing dynamic change. We believe
earnings and revenue growth relative to expectations are critical factors in determining stock price movements. Thus, our
investment process is centered around finding companies with under-appreciated prospects for robust and sustainable growth
in earnings and revenue. To find that growth, we use bottom-up research, emphasizing companies whose management teams have
a history of successfully executing their strategy and whose business model has sufficient profit potential. We forecast revenue
and earnings revision opportunities, along with other key financial metrics to assess investment potential. We then combine
that company-specific analysis with our assessment of secular and timeliness trends to form a buy/sell decision about a particular
stock. We may invest in any sector, and at times we may emphasize one or more particular sectors. We sell a company's securities
when we see deterioration in fundamentals that leads us to become suspicious of a company's prospective growth profile or
the profitability potential of its business model, as this often leads to lower valuation potential. We may also sell or trim
a position when we need to raise money to fund the purchase of a better idea or when valuation is extended beyond our bullish
expectations.
Principal Investment Risks
An investment in the Fund is not a deposit of Wells Fargo Bank, N.A. or its affiliates and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency.
Foreign Investment Risk. Foreign investments face the potential of heightened illiquidity, greater price volatility and adverse effects of political, regulatory, tax, currency, economic or other macroeconomic developments.
Growth Style Investment Risk. Growth stocks may be more expensive relative to the values of other stocks and carry potential for significant volatility and loss.
Issuer Risk. The value of a security may decline because of adverse events or circumstances that directly relate to conditions at the issuer or any entity providing it credit or liquidity support.
Larger Company Securities Risk. Securities of companies with larger market capitalizations may underperform securities of companies with smaller and mid-sized market capitalizations in certain economic environments.
Liquidity Risk. A security may not be able to be sold at the time desired or without adversely affecting the price.
Management Risk. There is no guarantee of the Fund's performance or that the Fund will meet its objective. The market value of your investment may decline and you may suffer investment loss.
Market Risk. The market price of securities owned by the Fund may rapidly or unpredictably decline due to factors affecting securities markets generally or particular industries.
Regulatory Risk. Changes in government regulations may adversely affect the value of a security. An insufficiently regulated industry or market might also permit inappropriate practices that adversely affect an investment.
Sector Emphasis Risk. Investing a substantial portion of the Fund's assets in related industries or sectors may have greater risks because companies in these sectors may share common characteristics and may react similarly to market developments.
Smaller Company Securities Risk. Securities of companies with smaller market capitalizations tend to be more volatile and less liquid than larger company stocks.
Performance
The following information provides some indication of the risks of investing in the Fund by showing changes in the Fund's performance from year to year. The Fund's average annual total returns are compared to the performance of an appropriate broad-based index(es). Past performance before and after taxes is no guarantee of future results. Current month-end performance is available on the Fund's Web site at wellsfargo.com/advantagefunds.
Calendar Year Total Returns as of 12/31 each year
Investor Class
Highest Quarter: 2nd Quarter 2009 +18.42% Lowest Quarter: 1st Quarter 2001 -27.43% Year-to-date total return as of 9/30/2011 is -1.81%
Average Annual Total Returns for the periods ended 12/31/2010 |
||||
|
Inception Date of Share Class |
1 Year |
5 Year |
10 Year |
Investor Class (before taxes) |
12/31/1993 |
26.14% |
8.72% |
1.75% |
Investor Class (after taxes on distributions) |
12/31/1993 |
26.14% |
8.72% |
1.74% |
Investor Class (after taxes on distributions and the sale of Fund Shares) |
12/31/1993 |
16.99% |
7.59% |
1.50% |
Russell 3000® Growth Index (reflects no deduction for fees, expenses, or taxes) |
17.64% |
3.88% |
0.30% |
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state, local or foreign taxes. Actual after-tax returns depend on an investor's tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) Plans or Individual Retirement Accounts.
Fund Management
Adviser |
Sub-Adviser |
Portfolio Manager, Title / Managed Since |
Wells Fargo Funds Management, LLC |
Wells Capital Management Incorporated |
Joseph M. Eberhardy, CFA, CPA, Portfolio Manager / 2008 |
Transaction Policies
Buying Fund Shares |
To Place Orders or Redeem Shares |
Minimum Initial Investment |
Mail: Wells Fargo Advantage Funds |
In general, you can buy or sell shares of the Fund by mail, internet, phone or wire on any business day. You also may buy and sell shares through a financial professional.
Tax Information
Any distributions you receive from the Fund may be taxable as ordinary income or capital gains, except when your investment is in an IRA, 401(k) or other tax advantaged investment plan. You should consult your tax adviser about your specific tax situation.
Payments to Broker-Dealers and Other Financial Intermediaries
If you purchase a Fund through a broker-dealer or other financial intermediary (such as a bank), the Fund and its related companies may pay the intermediary for the sale of Fund shares and related services. These payments may create a conflict of interest by influencing the broker-dealer or other intermediary and your salesperson to recommend the Fund over another investment. Consult your salesperson or visit your financial intermediary's Web site for more information.
Link to Prospectus |
Link to SAI |
Growth Fund Summary
Class/Ticker: Class A - SGRAX; Class C - WGFCX
Summary Prospectus
December 1, 2011
Link to Prospectus |
Link to SAI |
Before you invest, you may want to review the Fund's prospectus, which contains more information about the Fund and its risks. You can find the Fund's prospectus and other information about the Fund online at wellsfargo.com/advantagefunds. You can also get information at no cost by calling 1-800-222-8222, or by sending an email request to wfaf@wellsfargo.com. The current prospectus ("Prospectus") and statement of additional information ("SAI"), dated December 1, 2011, are incorporated by reference into this summary prospectus. The Fund's SAI may be obtained, free of charge, in the same manner as the Prospectus.
Investment Objective
The Fund seeks long-term capital appreciation.
Fees and Expenses
These tables are intended to help you understand the various costs and expenses you will pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in the aggregate in specified classes of certain Wells Fargo Advantage Funds®. More information about these and other discounts is available from your financial professional and in "A Choice of Share Classes" and "Reductions and Waivers of Sales Charges" on pages 82 and 84 of the Prospectus and "Additional Purchase and Redemption Information" on page 59 of the Statement of Additional Information.
Shareholder Fees (fees paid directly from your investment) |
|
|
|
Class A |
Class C |
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) |
5.75% |
None |
Maximum deferred sales charge (load) (as a percentage of offering price) |
None |
1.00% |
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)1 |
||
|
Class A |
Class C |
Management Fees |
0.66% |
0.66% |
Distribution (12b-1) Fees |
0.00% |
0.75% |
Other Expenses |
0.58% |
0.58% |
Total Annual Fund Operating Expenses |
1.24% |
1.99% |
Fee Waivers |
0.02% |
0.02% |
Total Annual Fund Operating Expenses After Fee Waiver2 |
1.22% |
1.97% |
1. | Expenses have been adjusted as necessary from amounts incurred during the Fund's most recent fiscal year to reflect current fees and expenses. |
2. | The Adviser has committed through November 30, 2012 to waive fees and/or reimburse expenses to the extent necessary to cap the Fund's Total Annual Fund Operating Expenses After Fee Waiver, excluding certain expenses, at the amount shown above. After this time, such cap may be changed or the commitment to maintain the cap may be terminated only with the approval of the Board of Trustees. |
Example of Expenses
The example below is intended to help you compare the costs of investing in the Fund with the costs of investing in other mutual funds. The example assumes a $10,000 initial investment, 5% annual total return, and that operating expenses remain the same as in the tables above. The example also assumes that the Total Annual Fund Operating Expenses After Fee Waiver shown above will only be in place for the length of the current waiver commitment. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
|
Assuming Redemption at End of Period |
|
|
Assuming No Redemption |
After: |
Class A |
Class C |
|
Class C |
1 Year |
$692 |
$300 |
$200 |
|
3 Years |
$944 |
$622 |
$622 |
|
5 Years |
$1,215 |
$1,071 |
$1,071 |
|
10 Years |
$1,987 |
$2,315 |
$2,315 |
Portfolio Turnover
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 54% of the average value of its portfolio.
Principal Investment Strategies
Under normal circumstances, we invest at least 80% of the Fund's total assets in equity securities and up to 25% of the Fund's total assets in equity securities of foreign issuers through ADRs and similar investments.
We invest principally in equity securities of companies that we believe have prospects for robust and sustainable growth of
revenues and earnings. We select equity securities of companies of all market capitalizations. We may also invest in equity
securities of foreign issuers through ADRs and similar investments.
We focus on companies that dominate their market, are establishing new markets or are undergoing dynamic change. We believe
earnings and revenue growth relative to expectations are critical factors in determining stock price movements. Thus, our
investment process is centered around finding companies with under-appreciated prospects for robust and sustainable growth
in earnings and revenue. To find that growth, we use bottom-up research, emphasizing companies whose management teams have
a history of successfully executing their strategy and whose business model has sufficient profit potential. We forecast revenue
and earnings revision opportunities, along with other key financial metrics to assess investment potential. We then combine
that company-specific analysis with our assessment of secular and timeliness trends to form a buy/sell decision about a particular
stock. We may invest in any sector, and at times we may emphasize one or more particular sectors. We sell a company's securities
when we see deterioration in fundamentals that leads us to become suspicious of a company's prospective growth profile or
the profitability potential of its business model, as this often leads to lower valuation potential. We may also sell or trim
a position when we need to raise money to fund the purchase of a better idea or when valuation is extended beyond our bullish
expectations.
Principal Investment Risks
An investment in the Fund is not a deposit of Wells Fargo Bank, N.A. or its affiliates and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency.
Foreign Investment Risk. Foreign investments face the potential of heightened illiquidity, greater price volatility and adverse effects of political, regulatory, tax, currency, economic or other macroeconomic developments.
Growth Style Investment Risk. Growth stocks may be more expensive relative to the values of other stocks and carry potential for significant volatility and loss.
Issuer Risk. The value of a security may decline because of adverse events or circumstances that directly relate to conditions at the issuer or any entity providing it credit or liquidity support.
Larger Company Securities Risk. Securities of companies with larger market capitalizations may underperform securities of companies with smaller and mid-sized market capitalizations in certain economic environments.
Liquidity Risk. A security may not be able to be sold at the time desired or without adversely affecting the price.
Management Risk. There is no guarantee of the Fund's performance or that the Fund will meet its objective. The market value of your investment may decline and you may suffer investment loss.
Market Risk. The market price of securities owned by the Fund may rapidly or unpredictably decline due to factors affecting securities markets generally or particular industries.
Regulatory Risk. Changes in government regulations may adversely affect the value of a security. An insufficiently regulated industry or market might also permit inappropriate practices that adversely affect an investment.
Sector Emphasis Risk. Investing a substantial portion of the Fund's assets in related industries or sectors may have greater risks because companies in these sectors may share common characteristics and may react similarly to market developments.
Smaller Company Securities Risk. Securities of companies with smaller market capitalizations tend to be more volatile and less liquid than larger company stocks.
Performance
The following information provides some indication of the risks of investing in the Fund by showing changes in the Fund's performance from year to year. The Fund's average annual total returns are compared to the performance of an appropriate broad-based index(es). Past performance before and after taxes is no guarantee of future results. Current month-end performance is available on the Fund's Web site at wellsfargo.com/advantagefunds.
Calendar Year Total Returns for Class A as of 12/31 each year
(Returns do not reflect sales charges and would be lower if they did)
Highest Quarter: 2nd Quarter 2009 +18.43% Lowest Quarter: 1st Quarter 2001 -27.49% Year-to-date total return as of 9/30/2011 is -1.75%
Average Annual Total Returns for the periods ended 12/31/2010 (Returns reflect applicable sales charges) |
||||
|
Inception Date of Share Class |
1 Year |
5 Year |
10 Year |
Class A (before taxes) |
2/24/2000 |
19.00% |
7.59% |
1.19% |
Class A (after taxes on distributions) |
2/24/2000 |
19.00% |
7.59% |
1.18% |
Class A (after taxes on distributions and the sale of Fund Shares) |
2/24/2000 |
12.35% |
6.58% |
1.02% |
Class C (before taxes) |
12/26/2002 |
24.32% |
8.06% |
1.01% |
Russell 3000® Growth Index (reflects no deduction for fees, expenses, or taxes) |
17.64% |
3.88% |
0.30% |
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state, local or foreign taxes. Actual after-tax returns depend on an investor's tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) Plans or Individual Retirement Accounts. After-tax returns are shown only for the Class A shares. After-tax returns for the Class C shares will vary.
Fund Management
Adviser |
Sub-Adviser |
Portfolio Manager, Title / Managed Since |
Wells Fargo Funds Management, LLC |
Wells Capital Management Incorporated |
Joseph M. Eberhardy, CFA, CPA, Portfolio Manager / 2008 |
Transaction Policies
Buying Fund Shares |
To Place Orders or Redeem Shares |
Minimum Initial Investment |
Mail: Wells Fargo Advantage Funds |
In general, you can buy or sell shares of the Fund by mail, internet, phone or wire on any business day. You also may buy and sell shares through a financial professional.
Tax Information
Any distributions you receive from the Fund may be taxable as ordinary income or capital gains, except when your investment is in an IRA, 401(k) or other tax advantaged investment plan. You should consult your tax adviser about your specific tax situation.
Payments to Broker-Dealers and Other Financial Intermediaries
If you purchase a Fund through a broker-dealer or other financial intermediary (such as a bank), the Fund and its related companies may pay the intermediary for the sale of Fund shares and related services. These payments may create a conflict of interest by influencing the broker-dealer or other intermediary and your salesperson to recommend the Fund over another investment. Consult your salesperson or visit your financial intermediary's Web site for more information.
Link to Prospectus |
Link to SAI |
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