International Bond Fund Summary
Class
/Ticker:
Administrator Class
- ESIDX
Summary Prospectus
April 1, 2013
Link to Prospectus
|
Link to SAI
|
Before you invest, you may want to review the Fund's prospectus, which contains more information about the Fund and its risks.
You can find the Fund's prospectus and other information about the Fund online at wellsfargoadvantagefunds.com/reports. You
can also get information at no cost by calling 1-800-222-8222, or by sending an email request to wfaf@wellsfargo.com. The
current prospectus ("Prospectus") and statement of additional information ("SAI"), dated March 1, 2013, as previously supplemented,
are incorporated by reference into this summary prospectus. The Fund's SAI may be obtained, free of charge, in the same manner
as the Prospectus.
Investment Objective
The Fund seeks total return, consisting of income and capital appreciation.
Fees and Expenses
These tables are intended to help you understand the various costs and expenses you will pay if you buy and hold shares of
the Fund.
Shareholder Fees (fees paid directly from your investment)
|
|
|
|
Maximum sales charge (load) imposed on purchases (as a percentage of offering price)
|
None
|
Maximum deferred sales charge (load) (as a percentage of offering price)
|
None
|
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
|
|
|
Management Fees
|
0.52%
|
Distribution (12b-1) Fees
|
0.00%
|
Other Expenses
|
0.46%
|
Total Annual Fund Operating Expenses
|
0.98%
|
Fee Waivers
|
0.13%
|
Total Annual Fund Operating Expenses After Fee Waiver
1
|
0.85%
|
1.
|
The Adviser has committed through February 28, 2015, 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 the amounts shown above. 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.
|
Example of Expenses
The example below is intended to help you compare the costs of investing in the Fund with the costs of investing in other
mutual funds. The example assumes a $10,000 initial investment, 5% annual total return, and that operating expenses remain
the same as in the tables above. The example also assumes that the Total Annual Fund Operating Expenses After Fee Waiver shown
above will only be in place for the length of the current waiver commitment. Although your actual costs may be higher or lower,
based on these assumptions your costs would be:
|
|
After:
|
|
1 Year
|
$87
|
3 Years
|
$286
|
5 Years
|
$516
|
10 Years
|
$1,177
|
Portfolio Turnover
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A
higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held
in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the
Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 79% of the average value of
its portfolio.
Principal Investment Strategies
Under normal circumstances, we invest:
-
at least 80% of the Fund's net assets in foreign debt securities, including obligations of governments, corporate entities
or supranational agencies, denominated in various currencies;
-
in at least three countries or supranational agencies;
-
up to 35% of the Fund's total assets in debt securities that are below investment grade; and
-
up to 5% of the Fund's total assets in debt obligations or similar securities denominated in the local currencies of countries
that have a sovereign debt rating below investment-grade.
We invest principally in foreign debt securities denominated in various currencies, including obligations of governments,
corporate entities or supranational agencies. We will invest in at least three countries or supranational agencies. We may
also invest in investment-grade and below investment-grade debt securities (often called "high yield" securities or "junk
bonds") of both U.S. and foreign issuers, including issuers from emerging markets. As part of our below investment-grade debt
securities investment strategy, we will generally invest in securities that are rated at least B- by Standard & Poor's or
B3 by Moody's, or an equivalent quality rating from another Nationally Recognized Statistical Ratings Organization, or are
deemed by us to be of comparable quality. Under normal circumstances, we invest up to 5% of the Fund's total assets in debt
obligations or similar securities denominated in the local currencies of countries that have a sovereign debt rating below
investment-grade. Currency is managed as a separate asset class and we may enter into foreign currency exchange contracts
to gain exposure, for hedging purposes or to manage risk. We may purchase a foreign currency on a spot or forward basis in
order to benefit from potential appreciation of such currency relative to the U.S. dollar or to other currencies. The Fund
may enter into foreign currency exchange contracts to gain or hedge currency exposure or control risk.
While we may purchase securities of any maturity or duration, under normal circumstances, we expect the Fund's dollar-weighted
average effective maturity to be between 5 and 14 years, and dollar-weighted average effective duration to be between 3 1/2 and
10 years. "Dollar-Weighted Average Effective Maturity" is a measure of the average time until the final payment of principal
and interest is due on fixed income securities in the Fund's portfolio. "Dollar-Weighted Average Effective Duration" is an
aggregate measure of the sensitivity of a fund's fixed income portfolio securities to changes in interest rates. As a general
matter, the price of a fixed income security with a longer effective duration will fluctuate more in response to changes in
interest rates than the price of a fixed income security with a shorter effective duration.
We use proprietary models and systems to assess and highlight areas of relative value around the world. Model-driven forecasts
are created using fundamental economic inputs to generate economic forecasts on the global bond markets. With these forecasts,
an optimization process accounts for multiple iteration scenarios to create, what we believe to be, an optimal portfolio strategy.
The output of the model process is intended to provide relative valuations for determining an over, or underweight of country-specific
bond markets. Similarly, currencies are valued for their potential returns or to hedge currency exposure. These macro 'top-down'
quantitative models are used in conjunction with our investment experience and allied to a 'bottom-up' security selection
process.
Sell decisions are valuation-driven based on our models and our fundamental analysis. We may also sell a security due to changes
in portfolio strategy or cash flow needs.
Principal Investment Risks
An investment in the Fund may lose money, is not a deposit of Wells Fargo Bank, N.A. or its affiliates, is not insured or
guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency, and is primarily subject to the
risks briefly summarized below.
Counter-Party Risk.
A Fund may incur a loss if the other party to an investment contract, such as a derivative or a repurchase or reverse repurchase
agreement, fails to fulfill its contractual obligation to the Fund.
Debt Securities Risk.
The issuer of a debt security may fail to pay interest or principal when due, and changes in market interest rates may reduce
the value of debt securities or reduce the Fund's returns.
Derivatives Risk.
The use of derivatives such as futures, options and swap agreements, can lead to losses, including those magnified by leverage,
particularly when derivatives are used to enhance return rather than offset risk.
Emerging Markets Risk.
Foreign investment risks are typically greater for securities in emerging markets, which can be more vulnerable to recessions,
currency volatility, inflation and market failure.
Foreign Currency Transactions Risk
. Foreign securities are often denominated in foreign currencies. As a result, the value of a Fund's shares is affected by
changes in exchange rates. Use of hedging techniques cannot protect against exchange rate risk perfectly. If the Fund's adviser
is incorrect in its judgment of future exchange rate relationships, the Fund could be in a less advantageous position than
if such a hedge had not been established.
Foreign Investment Risk.
Foreign investments face the potential of heightened illiquidity, greater price volatility and adverse effects of political,
regulatory, tax, currency, economic or other macroeconomic developments.
High Yield Securities Risk.
High yield securities, i.e. "junk bonds," are debt securities that are rated below investment-grade, are unrated and deemed
by us to be below investment-grade, or are in default at the time of purchase. These securities are considered speculative
by major credit rating agencies, have a much greater risk of default or of not returning principal and tend to be more volatile
and less liquid than higher-rated securities of similar maturity.
Issuer Risk.
The value of a security may decline because of adverse events or circumstances that directly relate to conditions at the
issuer or any entity providing it credit or liquidity support.
Leverage Risk.
Leverage created by borrowing or certain investments, such as derivatives and reverse repurchase agreements, can diminish
the Fund's performance and increase the volatility of the Fund's net asset value.
Liquidity Risk.
A security may not be able to be sold at the time desired or without adversely affecting the price.
Management Risk.
There is no guarantee of the Fund's performance or that the Fund will meet its objective. The market value of your investment
may decline and you may suffer investment loss.
Market Risk.
The market price of securities owned by the Fund may rapidly or unpredictably decline due to factors affecting securities
markets generally or particular industries.
Regional Risk
. The Fund's investments may be concentrated in a specific geographical region and thus, may be more adversely affected by
events in that region than investments of a fund that does not have such a regional focus.
Regulatory Risk.
Changes in government regulations may adversely affect the value of a security. An insufficiently regulated industry or market
might also permit inappropriate practices that adversely affect an investment.
U.S. Government Obligations Risk.
U.S. Government obligations may be adversely impacted by changes in interest rates, and may not be backed by the full faith
and credit of the U.S. Government.
Performance
The following information provides some indication of the risks of investing in the Fund by showing changes in the Fund's
performance from year to year. The Fund's average annual total returns are compared to the performance of one or more indices.
Past performance before and after taxes is no guarantee of future results. Current month-end performance is available on the
Fund's Web site at wellsfargoadvantagefunds.com.
Calendar Year Total Returns as of 12/31 each year
Administrator Class
Highest Quarter: 3rd Quarter 2010
|
+11.62%
|
Lowest Quarter: 3rd Quarter 2008
|
-5.31%
|
Average Annual Total Returns for the periods ended 12/31/2012
|
|
Inception Date of Share Class
|
1 Year
|
5 Year
|
10 Year
|
Administrator Class (before taxes)
|
7/30/2010
|
5.76%
|
7.12%
|
7.39%
|
Administrator Class (after taxes on distributions)
|
7/30/2010
|
4.90%
|
4.90%
|
5.57%
|
Administrator Class (after taxes on distributions and the sale of Fund Shares)
|
7/30/2010
|
3.87%
|
4.78%
|
5.32%
|
BofA Merrill Lynch Global Broad Market ex US Index (reflects no deduction for fees, expenses, or taxes)
|
|
3.99%
|
5.10%
|
6.71%
|
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect
the impact of state, local or foreign taxes. Actual after-tax returns depend on an investor's tax situation and may differ
from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold their Fund shares
through tax-deferred arrangements, such as 401(k) Plans or Individual Retirement Accounts.
Fund Management
Adviser
|
Sub-Adviser
|
Portfolio Manager, Title/Managed Since
|
Wells Fargo Funds Management, LLC
|
First International Advisors, LLC
|
Tony Norris
, Portfolio Manager / 1993
Peter Wilson
, Portfolio Manager / 1993
Michael Lee
, Portfolio Manager / 1993
Alex Perrin
, Portfolio Manager / 1993
Christopher Wightman
, Portfolio Manager / 2012
|
Purchase and Sale of Fund Shares
Administrator Class shares are generally available through financial intermediaries for the accounts of their customers and
directly to institutional investors and individuals. Institutional investors may include corporations; private banks; trust
companies; endowments and foundations; defined contribution, defined benefit and other employer sponsored retirement plans;
institutional retirement plan platforms; insurance companies; registered investment advisor firms; bank trusts; 529 college
savings plans; family offices; and fund of funds including those managed by Funds Management. In general, you can buy or sell
shares of the Fund by mail, internet, phone or wire on any day the New York Stock Exchange is open for regular trading. You
also may buy and sell shares through a financial professional.
Minimum Investments
|
To Buy or Sell Shares
|
Minimum Initial Investment
Administrator Class: $1 million (this amount may be reduced or eliminated for certain eligible investors)
Minimum Additional Investment
Administrator Class: None
|
Mail:
Wells Fargo Advantage Funds
P.O. Box 8266
Boston, MA 02266-8266
Internet
: wellsfargoadvantagefunds.com
Phone or Wire:
1-800-222-8222
Contact your investment representative.
|
Tax Information
Any distributions you receive from the Fund may be taxable as ordinary income or capital gains, except when your investment
is in an IRA, 401(k) or other tax advantaged investment plan. However, subsequent withdrawals from such a tax advantaged investment
plan may be subject to federal income tax. You should consult your tax adviser about your specific tax situation.
Payments to Broker-Dealers and Other Financial Intermediaries
If you purchase the Fund through a broker-dealer or other financial intermediary (such as a bank), the Fund and its related
companies may pay the intermediary for the sale of Fund shares and related services. These payments may create a conflict
of interest by influencing the broker-dealer or other intermediary and your salesperson to recommend the Fund over another
investment. Consult your salesperson or visit your financial intermediary's Web site for more information.
Link to Prospectus
|
Link to SAI
|
International Bond Fund Summary
Class
/Ticker:
Institutional Class
- ESICX
Summary Prospectus
April 1, 2013
Link to Prospectus
|
Link to SAI
|
Before you invest, you may want to review the Fund's prospectus, which contains more information about the Fund and its risks.
You can find the Fund's prospectus and other information about the Fund online at wellsfargoadvantagefunds.com/reports. You
can also get information at no cost by calling 1-800-222-8222, or by sending an email request to wfaf@wellsfargo.com. The
current prospectus ("Prospectus") and statement of additional information ("SAI"), dated March 1, 2013, as previously supplemented,
are incorporated by reference into this summary prospectus. The Fund's SAI may be obtained, free of charge, in the same manner
as the Prospectus.
Investment Objective
The Fund seeks total return, consisting of income and capital appreciation.
Fees and Expenses
These tables are intended to help you understand the various costs and expenses you will pay if you buy and hold shares of
the Fund.
Shareholder Fees (fees paid directly from your investment)
|
|
|
|
Maximum sales charge (load) imposed on purchases (as a percentage of offering price)
|
None
|
Maximum deferred sales charge (load) (as a percentage of offering price)
|
None
|
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
|
|
|
Management Fees
|
0.52%
|
Distribution (12b-1) Fees
|
0.00%
|
Other Expenses
|
0.19%
|
Total Annual Fund Operating Expenses
|
0.71%
|
Fee Waivers
|
0.01%
|
Total Annual Fund Operating Expenses After Fee Waiver
1
|
0.70%
|
1.
|
The Adviser has committed through February 28, 2015, 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 the amounts shown above. 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.
|
Example of Expenses
The example below is intended to help you compare the costs of investing in the Fund with the costs of investing in other
mutual funds. The example assumes a $10,000 initial investment, 5% annual total return, and that operating expenses remain
the same as in the tables above. The example also assumes that the Total Annual Fund Operating Expenses After Fee Waiver shown
above will only be in place for the length of the current waiver commitment. Although your actual costs may be higher or lower,
based on these assumptions your costs would be:
|
|
After:
|
|
1 Year
|
$72
|
3 Years
|
$225
|
5 Years
|
$393
|
10 Years
|
$881
|
Portfolio Turnover
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A
higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held
in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the
Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 79% of the average value of
its portfolio.
Principal Investment Strategies
Under normal circumstances, we invest:
-
at least 80% of the Fund's net assets in foreign debt securities, including obligations of governments, corporate entities
or supranational agencies, denominated in various currencies;
-
in at least three countries or supranational agencies;
-
up to 35% of the Fund's total assets in debt securities that are below investment grade; and
-
up to 5% of the Fund's total assets in debt obligations or similar securities denominated in the local currencies of countries
that have a sovereign debt rating below investment-grade.
We invest principally in foreign debt securities denominated in various currencies, including obligations of governments,
corporate entities or supranational agencies. We will invest in at least three countries or supranational agencies. We may
also invest in investment-grade and below investment-grade debt securities (often called "high yield" securities or "junk
bonds") of both U.S. and foreign issuers, including issuers from emerging markets. As part of our below investment-grade debt
securities investment strategy, we will generally invest in securities that are rated at least B- by Standard & Poor's or
B3 by Moody's, or an equivalent quality rating from another Nationally Recognized Statistical Ratings Organization, or are
deemed by us to be of comparable quality. Under normal circumstances, we invest up to 5% of the Fund's total assets in debt
obligations or similar securities denominated in the local currencies of countries that have a sovereign debt rating below
investment-grade. Currency is managed as a separate asset class and we may enter into foreign currency exchange contracts
to gain exposure, for hedging purposes or to manage risk. We may purchase a foreign currency on a spot or forward basis in
order to benefit from potential appreciation of such currency relative to the U.S. dollar or to other currencies. The Fund
may enter into foreign currency exchange contracts to gain or hedge currency exposure or control risk.
While we may purchase securities of any maturity or duration, under normal circumstances, we expect the Fund's dollar-weighted
average effective maturity to be between 5 and 14 years, and dollar-weighted average effective duration to be between 3 1/2 and
10 years. "Dollar-Weighted Average Effective Maturity" is a measure of the average time until the final payment of principal
and interest is due on fixed income securities in the Fund's portfolio. "Dollar-Weighted Average Effective Duration" is an
aggregate measure of the sensitivity of a fund's fixed income portfolio securities to changes in interest rates. As a general
matter, the price of a fixed income security with a longer effective duration will fluctuate more in response to changes in
interest rates than the price of a fixed income security with a shorter effective duration.
We use proprietary models and systems to assess and highlight areas of relative value around the world. Model-driven forecasts
are created using fundamental economic inputs to generate economic forecasts on the global bond markets. With these forecasts,
an optimization process accounts for multiple iteration scenarios to create, what we believe to be, an optimal portfolio strategy.
The output of the model process is intended to provide relative valuations for determining an over, or underweight of country-specific
bond markets. Similarly, currencies are valued for their potential returns or to hedge currency exposure. These macro 'top-down'
quantitative models are used in conjunction with our investment experience and allied to a 'bottom-up' security selection
process.
Sell decisions are valuation-driven based on our models and our fundamental analysis. We may also sell a security due to changes
in portfolio strategy or cash flow needs.
Principal Investment Risks
An investment in the Fund may lose money, is not a deposit of Wells Fargo Bank, N.A. or its affiliates, is not insured or
guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency, and is primarily subject to the
risks briefly summarized below.
Counter-Party Risk.
A Fund may incur a loss if the other party to an investment contract, such as a derivative or a repurchase or reverse repurchase
agreement, fails to fulfill its contractual obligation to the Fund.
Debt Securities Risk.
The issuer of a debt security may fail to pay interest or principal when due, and changes in market interest rates may reduce
the value of debt securities or reduce the Fund's returns.
Derivatives Risk.
The use of derivatives such as futures, options and swap agreements, can lead to losses, including those magnified by leverage,
particularly when derivatives are used to enhance return rather than offset risk.
Emerging Markets Risk.
Foreign investment risks are typically greater for securities in emerging markets, which can be more vulnerable to recessions,
currency volatility, inflation and market failure.
Foreign Currency Transactions Risk
. Foreign securities are often denominated in foreign currencies. As a result, the value of a Fund's shares is affected by
changes in exchange rates. Use of hedging techniques cannot protect against exchange rate risk perfectly. If the Fund's adviser
is incorrect in its judgment of future exchange rate relationships, the Fund could be in a less advantageous position than
if such a hedge had not been established.
Foreign Investment Risk.
Foreign investments face the potential of heightened illiquidity, greater price volatility and adverse effects of political,
regulatory, tax, currency, economic or other macroeconomic developments.
High Yield Securities Risk.
High yield securities, i.e. "junk bonds," are debt securities that are rated below investment-grade, are unrated and deemed
by us to be below investment-grade, or are in default at the time of purchase. These securities are considered speculative
by major credit rating agencies, have a much greater risk of default or of not returning principal and tend to be more volatile
and less liquid than higher-rated securities of similar maturity.
Issuer Risk.
The value of a security may decline because of adverse events or circumstances that directly relate to conditions at the
issuer or any entity providing it credit or liquidity support.
Leverage Risk.
Leverage created by borrowing or certain investments, such as derivatives and reverse repurchase agreements, can diminish
the Fund's performance and increase the volatility of the Fund's net asset value.
Liquidity Risk.
A security may not be able to be sold at the time desired or without adversely affecting the price.
Management Risk.
There is no guarantee of the Fund's performance or that the Fund will meet its objective. The market value of your investment
may decline and you may suffer investment loss.
Market Risk.
The market price of securities owned by the Fund may rapidly or unpredictably decline due to factors affecting securities
markets generally or particular industries.
Regional Risk
. The Fund's investments may be concentrated in a specific geographical region and thus, may be more adversely affected by
events in that region than investments of a fund that does not have such a regional focus.
Regulatory Risk.
Changes in government regulations may adversely affect the value of a security. An insufficiently regulated industry or market
might also permit inappropriate practices that adversely affect an investment.
U.S. Government Obligations Risk.
U.S. Government obligations may be adversely impacted by changes in interest rates, and may not be backed by the full faith
and credit of the U.S. Government.
Performance
The following information provides some indication of the risks of investing in the Fund by showing changes in the Fund's
performance from year to year. The Fund's average annual total returns are compared to the performance of one or more indices.
Past performance before and after taxes is no guarantee of future results. Current month-end performance is available on the
Fund's Web site at wellsfargoadvantagefunds.com.
Calendar Year Total Returns as of 12/31 each year
Institutional Class
Highest Quarter: 3rd Quarter 2010
|
+11.56%
|
Lowest Quarter: 3rd Quarter 2008
|
-5.28%
|
Average Annual Total Returns for the periods ended 12/31/2012
|
|
Inception Date of Share Class
|
1 Year
|
5 Year
|
10 Year
|
Institutional Class (before taxes)
|
12/15/1993
|
5.84%
|
7.25%
|
7.52%
|
Institutional Class (after taxes on distributions)
|
12/15/1993
|
4.96%
|
5.01%
|
5.69%
|
Institutional Class (after taxes on distributions and the sale of Fund Shares)
|
12/15/1993
|
3.92%
|
4.88%
|
5.43%
|
BofA Merrill Lynch Global Broad Market ex US Index (reflects no deduction for fees, expenses, or taxes)
|
|
3.99%
|
5.10%
|
6.71%
|
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect
the impact of state, local or foreign taxes. Actual after-tax returns depend on an investor's tax situation and may differ
from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold their Fund shares
through tax-deferred arrangements, such as 401(k) Plans or Individual Retirement Accounts.
Fund Management
Adviser
|
Sub-Adviser
|
Portfolio Manager, Title/Managed Since
|
Wells Fargo Funds Management, LLC
|
First International Advisors, LLC
|
Tony Norris
, Portfolio Manager / 1993
Peter Wilson
, Portfolio Manager / 1993
Michael Lee
, Portfolio Manager / 1993
Alex Perrin
, Portfolio Manager / 1993
Christopher Wightman
, Portfolio Manager / 2012
|
Purchase and Sale of Fund Shares
Institutional Class shares are generally available through financial intermediaries for the accounts of their customers and
directly to institutional investors and individuals. Institutional investors may include corporations; private banks; trust
companies; endowments and foundations; defined contribution, defined benefit and other employer sponsored retirement plans;
institutional retirement plan platforms; insurance companies; registered investment advisor firms; bank trusts; 529 college
savings plans; family offices; and fund of funds including those managed by Funds Management. In general, you can buy or sell
shares of the Fund by mail, internet, phone or wire on any day the New York Stock Exchange is open for regular trading. You
also may buy and sell shares through a financial professional.
Minimum Investments
|
To Buy or Sell Shares
|
Minimum Initial Investment
Institutional Class: $5 million (this amount may be reduced or eliminated for certain eligible investors)
Minimum Additional Investment
Institutional Class: None
|
Mail:
Wells Fargo Advantage Funds
P.O. Box 8266
Boston, MA 02266-8266
Internet:
wellsfargoadvantagefunds.com
Phone or Wire:
1.800.222.8222
Contact your investment representative.
|
Tax Information
Any distributions you receive from the Fund may be taxable as ordinary income or capital gains, except when your investment
is in an IRA, 401(k) or other tax advantaged investment plan. However, subsequent withdrawals from such a tax advantaged investment
plan may be subject to federal income tax. You should consult your tax adviser about your specific tax situation.
Payments to Broker-Dealers and Other Financial Intermediaries
If you purchase a Fund through a broker-dealer or other financial intermediary (such as a bank), the Fund and its related
companies may pay the intermediary for the sale of Fund shares and related services. These payments may create a conflict
of interest by influencing the broker-dealer or other intermediary and your salesperson to recommend the Fund over another
investment. Consult your salesperson or visit your financial intermediary's Web site for more information.
Link to Prospectus
|
Link to SAI
|
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