Wells Fargo is one of the four largest banks in the US and has a legacy spanning 150 years in the financial services sector. A highly diversified financial services company with operations spanning the globe, it manages over $1.3 trillion in assets. The company offers banking, insurance, investments and mortgage products through a large network of stores and other distribution channels. Wells Fargo ranked fourth in assets and second in market value of its stock among domestic peers for the year 2009.
Below we will share with you 5 top rated Wells Fargo mutual funds. Each has earned a Zacks #1 Rank (Strong Buy) as we expect these mutual funds to outperform their peers in the future.
Wells Fargo Advantage Core Equity A (EGIAX) seeks capital growth over the long term. The fund invests the majority of its assets in large cap companies whose market capitalizations are within the range of the S&P 500. Not more than 30% of its assets may be utilized to purchase foreign equity securities. The fund has a five year annualized return of 5.53%.
The Wells Fargo mutual fund has a minimum initial investment of $1,000 and an expense ratio of 1.38% compared to a category average of 1.13%.
Wells Fargo Disciplined Global Equity A (EAGLX) invests a large proportion of its assets in at least three countries at any given time, including the US. Not more than 25% of its assets may be invested in a single country and a maximum of 20% may be used to purchase emerging market securities. The fund has returned 22.99% over the last one year period.
Amit Chandra is the fund manager and has managed this Wells Fargo mutual fund since 2011.
Wells Fargo Advantage Growth A (SGRAX) seeks long term capital growth. Equity securities of with the potential for above average growth constitute the fund’s principal investments. It invests in companies regardless of their size and may utilize derivatives to manage risk. The fund has a three year annualized return of 11.56%.
As of February 2011, this Wells Fargo mutual fund held 101 issues, with 5.48% of its total assets invested in Apple, Inc.
Wells Fargo Advantage Growth Balanced A (WFGBX) invests in both fixed-income and equity securities. Under normal circumstances, 65% of its assets are invested in equity and 35% is invested in debt. The fund has returned 20.08% over the last one year period.
The Wells Fargo mutual fund has a minimum initial investment of $1,000 and an expense ratio of 1.20% compared to a category average of 1.01%.
Wells Fargo Advantage Discovery (STDIX) seeks long term capital growth. Equity securities of small and mid-cap companies with the potential for above average growth constitute the fund’s major investments. The fund has a ten year annualized return of 9.4%.
Thomas J. Pence is the fund manager and he has managed this Wells Fargo mutual fund since 2001.
To view the Zacks Rank and past performance of all Wells Fargo mutual funds, then click here.