Wells Fargo Funds Management, LLC
525 Market Street, 12th Floor
San Francisco, CA 94105
May 26, 2017
Via EDGAR
U.S. Securities and Exchange Commission
100 F Street, NE
Washington, DC 20549
Re: Wells Fargo Funds Trust (the "Trust")
No. 333-74295/811-09253
Dear Sir or Madam:
Pursuant to Rule 497(e) under the Securities Act of 1933, as amended, attached for filing are exhibits containing interactive data relating to the Wells Fargo Dow Jones Target 2045 Fund (the "Fund"). The interactive data relates to summary information that mirrors the Fund's summary information in its prospectus supplement dated May 18, 2017 (SEC Accession No. 0001081400-17-001149). The 497(e) is being filed for the sole purpose of submitting the XBRL exhibit for the Fund.
If you have any questions, please contact me at (617) 210-3682.
Very truly yours,
/s/ Maureen Towle
Maureen Towle
Senior Counsel
| Label | Element | Value |
|---|---|---|
| Prospectus: | rr_ProspectusTable | |
| Document Type | dei_DocumentType | 497 |
| Document Period End Date | dei_DocumentPeriodEndDate | Feb. 29, 2016 |
| Registrant Name | dei_EntityRegistrantName | WELLS FARGO FUNDS TRUST |
| Central Index Key | dei_EntityCentralIndexKey | 0001081400 |
| Amendment Flag | dei_AmendmentFlag | false |
| Document Creation Date | dei_DocumentCreationDate | May 18, 2017 |
| Document Effective Date | dei_DocumentEffectiveDate | May 18, 2017 |
| Prospectus Date | rr_ProspectusDate | Jul. 01, 2016 |
May 18, 2017 |
|---|
|
SUPPLEMENT TO THE ADMINISTRATOR CLASS PROSPECTUS AND SUMMARY PROSPECTUS
OF WELLS FARGO DOW JONES TARGET DATE FUNDS For the Wells Fargo Dow Jones Target 2045 Fund (the "Fund") At meetings held on April 18-19, 2017, and May 16-17, 2017, the Board of Trustees of the Fund approved the following changes effective on or about July 14, 2017.
I. Name Change Effective on or about July 14, 2017, the Fund will change its name to Wells Fargo Target 2045 Fund.
II. Principal Investment Strategy Changes Effective on or about July 14, 2017, the section entitled "Fund Summary – Principal Investment Strategies" is deleted and replaced with the following:
The Fund is a gateway fund that invests in various master portfolios ("Underlying Funds"), which in turn, invest in a combination of securities to gain exposure to equity and fixed income asset classes. The Fund gradually reduces its potential market risk exposures over time by generally re-allocating its assets among these asset classes, consistent with increasingly conservative strategic target allocations.
The equity Underlying Funds are each intended to provide exposure to a specific market segment. Those segments include U.S. large- and small-capitalization companies, and international (non-U.S.) developed and emerging markets. The U.S. large- and small-cap companies, international developed markets and emerging markets allocations are designed to replicate the performance of indexes created with a proprietary methodology. This methodology is designed to provide exposure to specific factors (or characteristics) that are commonly tied to a stock's potential for enhanced risk-adjusted returns relative to the market. Those factors include, but are not limited to value, quality, momentum, small size, and low volatility. The large-cap company allocation will be managed to replicate the performance of the Wells Fargo Factor Enhanced Large Cap Index. The small-cap company allocation will be managed to replicate the performance of the Wells Fargo Factor Enhanced Small Cap Index. The developed international allocation will be managed to replicate the performance of the Wells Fargo Factor Enhanced International Index. The emerging markets allocation will be managed to replicate the performance of the Wells Fargo Factor Enhanced Emerging Market Index.
The fixed income Underlying Funds provide diversified exposure across a wide range of market sectors, including U.S. Government obligations, corporate investment grade and below investment grade bonds (commonly known as "high yield bonds" or "junk bonds"), other U.S. aggregate bond sectors (including mortgage- and asset-backed securities), and emerging market foreign issues. The investment grade corporate bond and below investment grade corporate bond allocations will be managed to replicate the performance of indexes created with a proprietary index methodology. The methodology is designed to provide broadly diversified fixed income exposure and is constructed to enhance issuer diversification and liquidity versus other standard traditional passive bond indexes. The investment grade corporate bond allocation will be managed to replicate the performance of the Wells Fargo U.S. Investment Grade Corporate Bond Index. The below investment grade bond allocation will be managed to replicate the performance of the Wells Fargo U.S. High Yield Bond Index. The U.S. aggregate bond ex-corporate allocation, which includes mortgage- and asset-backed securities, will be managed to replicate the performance of the Bloomberg Barclays US Aggregate ex-Corporate Index. The emerging markets bond allocation will be managed to replicate the performance of the JP Morgan EMBI Global Diversified Index.
The Fund is primarily designed for investors expecting to retire and/or begin withdrawing funds around its target date of 2045. As the Fund's time horizon to its target date shortens, it generally replaces some of its equity holdings with fixed income holdings in an attempt to reduce market risk and thereby become more conservative in its asset allocation. This reallocation occurs according to a predetermined "glide path," which was developed based on long-term capital market return expectations, actuarial assumptions about life expectancy and retirement, and assumptions about investors' risk tolerance. The reallocation continues as the Fund's target year approaches and for the first ten years afterward. The Fund's target year of 2045 serves as a guide to the risk profile of the Fund, and your decision to invest in a Wells Fargo Target Date Fund with a particular target year and risk profile depends on your individual risk tolerance, among other factors.
The Fund will not reach its lowest strategic target allocation to equities until ten years past the Fund's target year. During the ten-year period after the Fund's target year, the Fund's asset allocation will increasingly resemble that of the Target Today Fund and at the end of the ten-year period, we will likely combine it with the Target Today Fund.
At their discretion, the Fund's portfolio managers may make changes to the Fund's glide path and asset allocation.
III. Glide Path In connection with these changes, the Fund's glide path will change. The Fund's equity allocation at retirement will be 40% and the lowest equity allocation will be 30%.
IV. Principal Investment Risks Changes Effective on or about July 14, 2017, the section entitled "Fund Summary – Principal Investment Risks" is supplemented to remove the following: Derivatives Risk, Futures Contracts Risk, Index Tracking Risk, and Investment Style Risk. In addition, the following is added:
High Yield Securities Risk. High yield securities and unrated securities of similar credit quality (commonly known as "junk bonds") have a much greater risk of default or of not returning principal and their values tend to be more volatile than higher-rated securities with similar maturities.
V. Management Fee and Contractual Expense Cap Changes Effective on or about July 14, 2017, the expense cap is being lowered as follows: The Manager has contractually committed through June 30, 2018, to waive fees and/or reimburse expenses to the extent necessary to cap the Fund's Total Annual Fund Operating Expenses After Fee Waiver at 0.54%. Brokerage commissions, stamp duty fees, interest, taxes, acquired fund fees and expenses and extraordinary expenses are excluded from the cap. After this time, the cap may be increased or the commitment to maintain the cap may be terminated only with the approval of the Board of Trustees.
|
| Label | Element | Value |
|---|---|---|
| Prospectus: | rr_ProspectusTable | |
| Supplement Text Block | wfdjtgt2045adm-20170518_SupplementTextBlock |
SUPPLEMENT TO THE ADMINISTRATOR CLASS PROSPECTUS AND SUMMARY PROSPECTUS
OF WELLS FARGO DOW JONES TARGET DATE FUNDS For the Wells Fargo Dow Jones Target 2045 Fund (the "Fund") At meetings held on April 18-19, 2017, and May 16-17, 2017, the Board of Trustees of the Fund approved the following changes effective on or about July 14, 2017.
I. Name Change Effective on or about July 14, 2017, the Fund will change its name to Wells Fargo Target 2045 Fund.
II. Principal Investment Strategy Changes Effective on or about July 14, 2017, the section entitled "Fund Summary – Principal Investment Strategies" is deleted and replaced with the following:
The Fund is a gateway fund that invests in various master portfolios ("Underlying Funds"), which in turn, invest in a combination of securities to gain exposure to equity and fixed income asset classes. The Fund gradually reduces its potential market risk exposures over time by generally re-allocating its assets among these asset classes, consistent with increasingly conservative strategic target allocations.
The equity Underlying Funds are each intended to provide exposure to a specific market segment. Those segments include U.S. large- and small-capitalization companies, and international (non-U.S.) developed and emerging markets. The U.S. large- and small-cap companies, international developed markets and emerging markets allocations are designed to replicate the performance of indexes created with a proprietary methodology. This methodology is designed to provide exposure to specific factors (or characteristics) that are commonly tied to a stock's potential for enhanced risk-adjusted returns relative to the market. Those factors include, but are not limited to value, quality, momentum, small size, and low volatility. The large-cap company allocation will be managed to replicate the performance of the Wells Fargo Factor Enhanced Large Cap Index. The small-cap company allocation will be managed to replicate the performance of the Wells Fargo Factor Enhanced Small Cap Index. The developed international allocation will be managed to replicate the performance of the Wells Fargo Factor Enhanced International Index. The emerging markets allocation will be managed to replicate the performance of the Wells Fargo Factor Enhanced Emerging Market Index.
The fixed income Underlying Funds provide diversified exposure across a wide range of market sectors, including U.S. Government obligations, corporate investment grade and below investment grade bonds (commonly known as "high yield bonds" or "junk bonds"), other U.S. aggregate bond sectors (including mortgage- and asset-backed securities), and emerging market foreign issues. The investment grade corporate bond and below investment grade corporate bond allocations will be managed to replicate the performance of indexes created with a proprietary index methodology. The methodology is designed to provide broadly diversified fixed income exposure and is constructed to enhance issuer diversification and liquidity versus other standard traditional passive bond indexes. The investment grade corporate bond allocation will be managed to replicate the performance of the Wells Fargo U.S. Investment Grade Corporate Bond Index. The below investment grade bond allocation will be managed to replicate the performance of the Wells Fargo U.S. High Yield Bond Index. The U.S. aggregate bond ex-corporate allocation, which includes mortgage- and asset-backed securities, will be managed to replicate the performance of the Bloomberg Barclays US Aggregate ex-Corporate Index. The emerging markets bond allocation will be managed to replicate the performance of the JP Morgan EMBI Global Diversified Index.
The Fund is primarily designed for investors expecting to retire and/or begin withdrawing funds around its target date of 2045. As the Fund's time horizon to its target date shortens, it generally replaces some of its equity holdings with fixed income holdings in an attempt to reduce market risk and thereby become more conservative in its asset allocation. This reallocation occurs according to a predetermined "glide path," which was developed based on long-term capital market return expectations, actuarial assumptions about life expectancy and retirement, and assumptions about investors' risk tolerance. The reallocation continues as the Fund's target year approaches and for the first ten years afterward. The Fund's target year of 2045 serves as a guide to the risk profile of the Fund, and your decision to invest in a Wells Fargo Target Date Fund with a particular target year and risk profile depends on your individual risk tolerance, among other factors.
The Fund will not reach its lowest strategic target allocation to equities until ten years past the Fund's target year. During the ten-year period after the Fund's target year, the Fund's asset allocation will increasingly resemble that of the Target Today Fund and at the end of the ten-year period, we will likely combine it with the Target Today Fund.
At their discretion, the Fund's portfolio managers may make changes to the Fund's glide path and asset allocation.
III. Glide Path In connection with these changes, the Fund's glide path will change. The Fund's equity allocation at retirement will be 40% and the lowest equity allocation will be 30%.
IV. Principal Investment Risks Changes Effective on or about July 14, 2017, the section entitled "Fund Summary – Principal Investment Risks" is supplemented to remove the following: Derivatives Risk, Futures Contracts Risk, Index Tracking Risk, and Investment Style Risk. In addition, the following is added:
High Yield Securities Risk. High yield securities and unrated securities of similar credit quality (commonly known as "junk bonds") have a much greater risk of default or of not returning principal and their values tend to be more volatile than higher-rated securities with similar maturities.
V. Management Fee and Contractual Expense Cap Changes Effective on or about July 14, 2017, the expense cap is being lowered as follows: The Manager has contractually committed through June 30, 2018, to waive fees and/or reimburse expenses to the extent necessary to cap the Fund's Total Annual Fund Operating Expenses After Fee Waiver at 0.54%. Brokerage commissions, stamp duty fees, interest, taxes, acquired fund fees and expenses and extraordinary expenses are excluded from the cap. After this time, the cap may be increased or the commitment to maintain the cap may be terminated only with the approval of the Board of Trustees.
|
| (Wells Fargo Dow Jones Target 2045 Fund - Administrator Class) | (Wells Fargo Dow Jones Target 2045 Fund) | ||
| Prospectus: | rr_ProspectusTable | |
| Expense Footnotes [Text Block] | rr_ExpenseFootnotesTextBlock | The Manager has contractually committed through June 30, 2018, to waive fees and/or reimburse expenses to the extent necessary to cap the Fund's Total Annual Fund Operating Expenses After Fee Waiver at 0.54%. Brokerage commissions, stamp duty fees, interest, taxes, acquired fund fees and expenses and extraordinary expenses are excluded from the cap. After this time, the cap may be increased or the commitment to maintain the cap may be terminated only with the approval of the Board of Trustees.
|
| Fee Waiver or Reimbursement over Assets, Date of Termination | rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination | June 30, 2018 |
| Strategy Narrative [Text Block] | rr_StrategyNarrativeTextBlock | The Fund is a gateway fund that invests in various master portfolios ("Underlying Funds"), which in turn, invest in a combination of securities to gain exposure to equity and fixed income asset classes. The Fund gradually reduces its potential market risk exposures over time by generally re-allocating its assets among these asset classes, consistent with increasingly conservative strategic target allocations.
The equity Underlying Funds are each intended to provide exposure to a specific market segment. Those segments include U.S. large- and small-capitalization companies, and international (non-U.S.) developed and emerging markets. The U.S. large- and small-cap companies, international developed markets and emerging markets allocations are designed to replicate the performance of indexes created with a proprietary methodology. This methodology is designed to provide exposure to specific factors (or characteristics) that are commonly tied to a stock's potential for enhanced risk-adjusted returns relative to the market. Those factors include, but are not limited to value, quality, momentum, small size, and low volatility. The large-cap company allocation will be managed to replicate the performance of the Wells Fargo Factor Enhanced Large Cap Index. The small-cap company allocation will be managed to replicate the performance of the Wells Fargo Factor Enhanced Small Cap Index. The developed international allocation will be managed to replicate the performance of the Wells Fargo Factor Enhanced International Index. The emerging markets allocation will be managed to replicate the performance of the Wells Fargo Factor Enhanced Emerging Market Index.
The fixed income Underlying Funds provide diversified exposure across a wide range of market sectors, including U.S. Government obligations, corporate investment grade and below investment grade bonds (commonly known as "high yield bonds" or "junk bonds"), other U.S. aggregate bond sectors (including mortgage- and asset-backed securities), and emerging market foreign issues. The investment grade corporate bond and below investment grade corporate bond allocations will be managed to replicate the performance of indexes created with a proprietary index methodology. The methodology is designed to provide broadly diversified fixed income exposure and is constructed to enhance issuer diversification and liquidity versus other standard traditional passive bond indexes. The investment grade corporate bond allocation will be managed to replicate the performance of the Wells Fargo U.S. Investment Grade Corporate Bond Index. The below investment grade bond allocation will be managed to replicate the performance of the Wells Fargo U.S. High Yield Bond Index. The U.S. aggregate bond ex-corporate allocation, which includes mortgage- and asset-backed securities, will be managed to replicate the performance of the Bloomberg Barclays US Aggregate ex-Corporate Index. The emerging markets bond allocation will be managed to replicate the performance of the JP Morgan EMBI Global Diversified Index.
The Fund is primarily designed for investors expecting to retire and/or begin withdrawing funds around its target date of 2045. As the Fund's time horizon to its target date shortens, it generally replaces some of its equity holdings with fixed income holdings in an attempt to reduce market risk and thereby become more conservative in its asset allocation. This reallocation occurs according to a predetermined "glide path," which was developed based on long-term capital market return expectations, actuarial assumptions about life expectancy and retirement, and assumptions about investors' risk tolerance. The reallocation continues as the Fund's target year approaches and for the first ten years afterward. The Fund's target year of 2045 serves as a guide to the risk profile of the Fund, and your decision to invest in a Wells Fargo Target Date Fund with a particular target year and risk profile depends on your individual risk tolerance, among other factors.
The Fund will not reach its lowest strategic target allocation to equities until ten years past the Fund's target year. During the ten-year period after the Fund's target year, the Fund's asset allocation will increasingly resemble that of the Target Today Fund and at the end of the ten-year period, we will likely combine it with the Target Today Fund.
At their discretion, the Fund's portfolio managers may make changes to the Fund's glide path and asset allocation.
|
| Risk Narrative [Text Block] | rr_RiskNarrativeTextBlock | High Yield Securities Risk. High yield securities and unrated securities of similar credit quality (commonly known as "junk bonds") have a much greater risk of default or of not returning principal and their values tend to be more volatile than higher-rated securities with similar maturities.
|