Wells Fargo Advantage Funds ( www.wellsfargoadvantagefunds.com) announces the introduction of an alternative fund employing strategies similar to those used by institutional-quality hedge fund managers. The Wells Fargo Advantage Alternative Strategies Fund [WALTX] will provide access to a diversified portfolio of alternative investment strategies and will be advised by managers recommended by The Rock Creek Group, LP, a respected name in hedge fund management for more than a decade. “True alternative strategies, offered with the daily liquidity of a mutual fund, are in demand by institutional investors, pension funds, and financial advisors,” said Karla Rabusch, president of Wells Fargo Funds Management, LLC. “Clients are looking for out-of-the-box investing options they can trust to help navigate and thrive in unpredictable, volatile markets. We are pleased to offer the deep expertise of The Rock Creek Group in subadvising the Wells Fargo Advantage Alternative Strategies Fund.” The Rock Creek Group uses a top-down approach to develop an outlook on different asset classes, strategies and regions. It varies the Fund’s exposure among the underlying managers and strategies to capitalize on market opportunities while managing for risk, a key ingredient in alternative strategies. “We are delighted to be working with the Wells Fargo Advantage Alternative Strategies Fund,” said Afsaneh M. Beschloss, president and chief executive officer of Rock Creek and a former treasurer of the World Bank. “Our global investment outlook combined with disciplined risk analysis and experience in vetting and recommending institutional-quality sub advisers will give investors access to an array of alternative investing expertise.” The Wells Fargo Advantage Alternative Strategies Fund offers access to four different hedge fund-like styles:
- The equity hedged strategy takes both long and short positions in equities or related instruments, believed to be under- and over-valued.
- The global macro strategy analyzes economic variables in an attempt to forecast future movements in equity, fixed income, currency, and commodity markets.
- The relative value strategy seeks to identify and capitalize on valuation discrepancies between related financial instruments rather than on the direction of the general market.
- The event driven strategy seeks to capitalize on the movements in security prices of companies currently or prospectively involved in a wide variety of corporate transactions.
Carefully consider a fund's investment objectives, risks, charges, and expenses before investing. For a current prospectus and, if available, a summary prospectus, containing this and other information, visit wellsfargoadvantagefunds.com. Read it carefully before investing.About Wells Fargo Funds Management Wells Fargo Funds Management, LLC, a wholly owned subsidiary of Wells Fargo & Company, provides investment advisory and administrative services for Wells Fargo Advantage Funds. Other affiliates of Wells Fargo & Company provide subadvisory and other services for the funds. The funds are distributed by Wells Fargo Funds Distributor, LLC, Member FINRA/SIPC, an affiliate of Wells Fargo & Company.
|NOT FDIC INSURED • NO BANK GUARANTEE • MAY LOSE VALUE|