Some Wells Fargo funds undergo management, investment strategy changes

By Toni Weeks

San Diego, Feb. 9 - Wells Fargo Advantage Funds announced that Jeff Everett and Dale Winner will replace Francis X. Claro as co-portfolio managers of the Wells Fargo Advantage VT International Equity Fund, the Wells Fargo Advantage Diversified International Fund and the Wells Fargo Advantage International Equity Fund.

The management change is effective March 1, according to a 497 filing with the Securities and Exchange Commission.

Of the above funds, the two international funds also have undergone a change to their principal investment strategy. Each fund will now invest up to 30% of its total assets in emerging market equity securities. Previously, that percentage was 20%.

In addition, each international fund has added the requirement of investing in at least three different countries including the United States and has broadened the types of securities in which it invests to include exchange-traded funds.

Finally, both international funds will change their benchmark to the MSCI ACWI ex-U.S. Index from the MSCI EAFE Free Index (net).

San Francisco-based Wells Fargo Funds Management, LLC is the investment adviser to the funds.

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