Wells Fargo Advantage Funds’ Municipal Income team received a total of five Lipper Fund Awards last night at the fund research and analysis organization’s annual awards dinner in New York. Led by acclaimed fund manager Lyle J. Fitterer, Wells Fargo Advantage Funds’ Municipal Income team manages more than $32 billion in municipal debt securities, across a variety of national and state-specific funds and separate accounts.
“Many investors shunned this asset class in 2013, due to credit headwinds in Detroit and Puerto Rico alongside fears of rising interest rates,” said Aldo Ceccarelli, head of investments at Wells Fargo Funds Management, LLC. “Given this particularly difficult backdrop, we are especially honored to have our muni income fund team’s skill in credit selection and risk management recognized by Lipper,” continued Mr. Ceccarelli.
Mr. Fitterer’s team effectively navigated 2013 by relying on intensive credit research and savvy portfolio positioning. For example, anticipating deteriorating fundamentals in Puerto Rico, the managers of the Wells Fargo Advantage Municipal Bond Fund reduced exposure to the island municipality.
Two additional Wells Fargo Advantage Funds were recognized by Lipper: the Wells Fargo Advantage Index Asset Allocation Fund and the Wells Fargo Advantage Growth Fund.The Lipper Fund Awards showcase those funds that deliver consistently strong risk-adjusted performance relative to peers. Below is a list of the Wells Fargo Advantage Funds that received 2014 Lipper Fund Awards (as of 12-31-13).
|Fund/class||Lipper classification||Winner years (3, 5, or 10)||Portfolio managers|
|Wells Fargo Advantage Municipal Bond Fund, Investor||General & Insured Municipal Debt Funds||10-year period (out of 159 funds)||Lyle J. Fitterer, CFA, CPA , and Robert J. Miller|
|Wells Fargo Advantage Strategic Municipal Bond Fund, Administrator||Short/Intermediate Municipal Debt Funds||3-year period (out of 33 funds)||Lyle J. Fitterer, CFA, CPA; Wendy Casetta; and Robert J. Miller|
|Wells Fargo Advantage Short-Term Municipal Bond Fund, Institutional||Short Municipal Debt Funds||5-year period (out of 63 funds)||Lyle J. Fitterer, CFA, CPA, and Wendy Casetta|
|Wells Fargo Advantage Short-Term Municipal Bond Fund, Investor||Short Municipal Debt Funds||10-year period (out of 52 funds)||Lyle J. Fitterer, CFA, CPA, and Wendy Casetta|
|Wells Fargo Advantage Pennsylvania Tax-Free Fund, Institutional||Pennsylvania Municipal Debt Funds||3-year period (out of 57 funds)||Robert J. Miller and Bruce R. Johns|
|Wells Fargo Advantage Index Asset Allocation Fund, Administrator||Mixed-Asset Target Allocation Moderate Funds||3-year period (out of 448 funds)||Christian L. Chan, CFA, and Kandarp R. Acharya, CFA, FRM|
|Wells Fargo Advantage Growth Fund, Institutional*||Multi-Cap Growth Funds||5-year period (out of 379 funds)||Thomas C. Ognar, CFA; Bruce C. Olson, CFA; and Joseph M. Eberhardy, CFA, CPA|
|Wells Fargo Advantage Growth Fund, Institutional*||Multi-Cap Growth Funds||10-year period (out of 247 funds)||Thomas C. Ognar, CFA; Bruce C. Olson, CFA; and Joseph M. Eberhardy, CFA, CPA|
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