Fund Research for Wells Fargo Advantage Municipal Bond A (WMFAX)

  • Fund Overview

    Fund Inception Date: Apr 11, 2005
    Category: Muni National Long
    Overall Risk: Average
    Fund Family: Wells Fargo Advantage
    Return Since Inception: 4.42%
    YTD Return: 24.00%
    Yield (TTM): 4.75%
    Net Assets: 278.77 M
    Morningstar Rating:
    3 of 5
    The investment seeks income exempt from federal taxes while preserving capital. The fund normally invests at least 80% of assets in municipal securities that pay interest exempt from federal income tax, but not necessarily the federal alternative minimum tax (AMT). It invests up to 20% of assets in securities that pay interest subject to federal AMT. The fund invests up to 20% of assets in below investment-grade municipal securities.

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    Details
    Average Eff Duration 6.22 Yrs
    Average Eff Maturity —
    Average Credit Quality A
    Morningstar Rating as of 10/31/2009
    YTD Returns as of 11/30/2009    		 Style Box Detail calculations do not include the fund's short positions (if any)

  • Fund Performance

    10 year Growth Chart
    Growth of $10,000 from 04/30/2005 to 10/31/2009
    Mouseover the chart to see values for each month.

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    Total Annualized Returns

    YTD 1 year 3 year 5 year 10 year Since Inception
    Fund 24.00% 19.94% 3.76% — 5.12% 4.42%
    +/- Category 7.51% 4.03% 1.84% — 0.55% —
    +/- Barclays Municipal TR USD — — — — 5.66% —

    Standardized Annual Returns

    YTD 1 year 3 year 5 year 10 year Since Inception
    Month (as of 10/31/2009) 17.26% 12.55% 2.09% 3.41% 4.63% 3.37%
    Quarter (as of 09/30/2009) 18.57% 8.61% 2.69% — — 3.70%
    Fund and Category YTD, 1yr, 3yr and 5yr Returns as of 11/30/2009
    Index YTD,1yr, 3ys and 5yr Returns as of 11/30/2009 10 yr and Since Inception Returns as of 10/31/2009
    Inception Date: 04/11/2005
    Ratings are based on risk-adjusted performance.
    View Total Returns

  • Fund Portfolio Profile

    Sector Breakdown

    Stocks
    General Obligations 6.84%
    Advanced Refunded 0.03%
    State Appropriated Tobacco 0.00%
    Non-state Appropriated Tobacco 1.47%
    Education 5.97%
    Health 6.53%
    Housing 2.30%
    Industrial 6.92%
    Transportation 3.77%
    Utilities 0.97%
    Water/Sewer 6.43%
    Misc. Revenue 19.39%
    Bond Quality
    AAA —
    AA —
    A —
    BBB —
    BB —
    B —
    Below B 0.00%
    Not Rated 20.00%

    Asset Allocation

    Short Long Net Assets
    Cash — 0.86% 0.86%
    Stocks — 0.00% 0.00%
    Bonds — 99.14% 99.14%
    Other — 0.00% 0.00%
    Foreign Stocks
    (as a % of assets)    		 — 0.00% 0.00%
    Data as of 06/30/2009 Data as of 06/30/2009 View Fund Portfolio

    Top 10 Holdings

    Maturity Date Total Holdings Value of Holdings Net Assets
    = Arlington Tex Spl Obl Spl Tax B 5% 08/15/2034 11.5 M 11.53 M 1.79%
    * Colorado Health Facs Auth 5.5% 03/01/2032 10.32 M 10.5 M 1.63%
    + Northern Calif Gas Auth 07/01/2017 13.56 M 10.31 M 1.60%
    * NEW JERSEY ST HIGHER ED ASSIST REV BDS 06/01/2027 10 M 9.99 M 1.55%
    + Tobacco Settlement Auth 6.5% 06/01/2026 9.46 M 9.35 M 1.45%
    * Chawanakee Calif Uni Sch Dist 6% 05/01/2039 9 M 9.02 M 1.40%
    = Elizabethton Tenn Health & Edl Hosp F 7% 07/01/2020 7.55 M 8.58 M 1.33%
    * Maine Edl Ln Auth 5.875% 12/01/2039 8 M 7.94 M 1.23%
    = Main Str Nat Gas Inc Ga Gas Pr Gas 5% 03/15/2013 7.5 M 7.48 M 1.16%
    = Kentucky Asset / Liability Com Gen Fd 11/01/2025 10 M 7.01 M 1.09%
    + Increase - Decrease = No change * New since last portfolio
    Data as of 06/30/2009
    Top 10 holdings account for the fund's short positions (if any). Net short positions appear shaded.
    View Fund Portfolio

  • Sales Information

    Sales Charge %

    Initial 4.50%
    Deferred —
    Taken from prospectus dated 11/01/2009
    Expense Ratio (based on net assets) 0.75%
    Taken from annual report dated 06/30/2009

  • Fund Management

    Mathew M. Kiselak
    Start Date: 11/01/2009
    Kiselak is a director and senior portfolio manager of the Tax Exempt Fixed Income Unit of EIMC. He has been with Evergreen or one of its predecessors since 2000 and has over 19 years of investment experience.
    Lyle J. Fitterer
    Start Date: 03/31/2000
    Fitterer works as managing director in Wells Capital Management which he joined in 2005. Previously he served with SCM since 1989.
    Robert J. Miller
    Start Date: 05/09/2008
    Miller joined the Wells Capital Management Municipal Bond team in May 2008 where he manages both sub-advised mutual funds and separate accounts. Prior to joining Wells Capital Management, he worked for American Century Investments for 10 years where he had direct responsibility for the firm’s flagship Tax-Free Bond fund as well as the firm’s Long-Term Bond fund. He also managed California, Florida and Arizona municipal funds and served as a member of the analytical team while at American Century.