Small/Mid Cap Core Fund Summary
Class/Ticker: Class A - ECOAX; Class C - ECOCX
Summary Prospectus
February 1, 2012
|
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 wellsfargo.com/advantagefunds. 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"), dated February 1, 2012, and statement of additional information ("SAI"), dated February 1, 2012, 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 long-term 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. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least
$50,000 in the aggregate in specified classes of certain
Wells Fargo Advantage Funds
®
. More information about these and other discounts is available from your financial professional and in "A Choice of Share
Classes" and "Reductions and Waivers of Sales Charges" on pages 49 and 51 of the Prospectus and "Additional Purchase and Redemption
Information" on page 54 of the Statement of Additional Information.
|
Shareholder Fees (fees paid directly from your investment)
|
|
|
|
|
Class A
|
Class C
|
|
Maximum sales charge (load) imposed on purchases (as a percentage of offering price)
|
5.75%
|
None
|
|
Maximum deferred sales charge (load) (as a percentage of offering price)
|
None
|
1.00%
|
|
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
1
|
|
|
Class A
|
Class C
|
|
Management Fees
|
0.75%
|
0.75%
|
|
Distribution (12b-1) Fees
|
0.00%
|
0.75%
|
|
Other Expenses
|
0.96%
|
0.96%
|
|
Total Annual Fund Operating Expenses
|
1.71%
|
2.46%
|
|
Fee Waivers
|
0.31%
|
0.31%
|
|
Total Annual Fund Operating Expenses After Fee Waiver
2
|
1.40%
|
2.15%
|
|
1.
|
Expenses have been adjusted as necessary from amounts incurred during the Fund's most recent fiscal year to reflect current
fees and expenses.
|
|
2.
|
The Adviser has committed through July 18, 2013 to waive fees and/or reimburse expenses to the extent necessary to cap the
Fund's Total Annual Fund Operating Expenses After Fee Waiver, excluding certain expenses, at the amount shown above. After
this time, such cap may be changed 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:
|
|
Assuming Redemption at End of Period
|
Assuming No Redemption
|
|
After:
|
Class A
|
Class C
|
|
Class C
|
|
1 Year
|
$709
|
$318
|
|
$218
|
|
3 Years
|
$1,024
|
$705
|
|
$705
|
|
5 Years
|
$1,392
|
$1,252
|
|
$1,252
|
|
10 Years
|
$2,424
|
$2,744
|
|
$2,744
|
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 48% 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 equity securities of small to medium-capitalization
companies. We invest principally in equity securities of small and medium-capitalization companies, which we define as securities
of companies with market capitalizations within the range of the Russell 2500™ Index. The market capitalization range of the
Russell 2500™ Index was approximately $22 million to $7.3 billion, as of June 27, 2011, and is expected to change frequently.
Generally, we avoid investments in issuers for which the primary industry classification is alcohol, gaming or tobacco.
We utilize a combination of quantitative methods and fundamental analysis to select a core portfolio of small- to medium-capitalization
companies that we believe are relatively undervalued and exhibit the likelihood to meet or exceed future earnings expectations.
Our quantitative analysis is based on a proprietary total composite model that considers valuation, earnings and trading momentum
characteristics to rank securities. Stocks that are attractively ranked by the total composite model are candidates for purchase.
Such candidates undergo further qualitative analysis, which may include an evaluation of a company's management strength,
products and/or services, competition and risk profile. In general, a stock may be sold if it has declining earnings expectations
or a significantly overvalued stock price, as indicated by lower rankings within the total composite model. Upon the sale
of any security, we seek to invest the proceeds in the most attractive security, in light of all relevant considerations,
in which the Fund may invest in accordance with the Fund's investment restrictions.
Principal Investment Risks
An investment in the Fund is not a deposit of Wells Fargo Bank, N.A. or its affiliates and is not insured or guaranteed by
the Federal Deposit Insurance Corporation or any other governmental agency.
Growth Style Investment Risk.
Growth stocks may be more expensive relative to the values of other stocks and carry potential for significant volatility
and loss.
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.
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.
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.
Smaller Company Securities Risk.
Securities of companies with smaller market capitalizations tend to be more volatile and less liquid than larger company
stocks.
Value Style Investment Risk.
Value stocks may lose value and may be subject to prolonged depressed valuations.
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 an appropriate broad-based
index(es). 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
wellsfargo.com/advantagefunds
.
Calendar Year Total Returns for Class A as of 12/31 each year
(Returns do not reflect sales charges and would be lower if they did)
|
Highest Quarter: 3rd Quarter 2009
|
+15.75%
|
|
Lowest Quarter: 4th Quarter 2008
|
-31.45%
|
|
Average Annual Total Returns for the periods ended 12/31/2011 (Returns reflect applicable sales charges)
|
|
|
Inception Date of Share Class
|
1 Year
|
Performance Since 12/17/2007
|
|
Class A (before taxes)
|
12/17/2007
|
-8.30%
|
-4.41%
|
|
Class A (after taxes on distributions)
|
12/17/2007
|
-8.30%
|
-4.41%
|
|
Class A (after taxes on distributions and the sale of Fund Shares)
|
12/17/2007
|
-5.39%
|
-3.71%
|
|
Class C (before taxes)
|
12/17/2007
|
-4.59%
|
-3.69%
|
|
Russell 2500™ Index (reflects no deduction for fees, expenses, or taxes)
|
|
-2.51%
|
1.89%
|
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. After-tax returns are shown only
for the Class A shares. After-tax returns for the Class C shares will vary.
Fund Management
|
Investment Adviser
|
Investment Sub-adviser
|
Portfolio Manager, Title/Managed Since
|
|
Wells Fargo Funds Management, LLC
|
Golden Capital Management, LLC
|
John R. Campbell, CFA,
Portfolio Manager/2007
|
Transaction Policies
|
Buying Fund Shares
|
To Place Orders or Redeem Shares
|
|
Minimum Initial Investment
Class A and Class C: $1,000
Minimum Additional Investment
All Classes: $100
|
Mail:
Wells Fargo Advantage Funds
P.O. Box 8266
Boston, MA 02266-8266
Internet:
wellsfargo.com/advantagefunds
Phone or Wire:
1-800-222-8222
Contact your financial professional.
|
In general, you can buy or sell shares of the Fund by mail, internet, phone or wire on any business day. You also may buy
and sell shares through a financial professional.
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. 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
|
SUPPLEMENT TO THE PROSPECTUSES
AND SUMMARY PROSPECTUSES
OF
WELLS FARGO ADVANTAGE EQUITY GATEWAY FUNDS
For
Diversified Small Cap Fund and Equity Value Fund
WELLS FARGO ADVANTAGE SMALL AND MID CAP STOCK FUNDS
For Small/Mid Cap Core Fund
Reorganizations and Meeting of Shareholders
The Wells Fargo Funds Trust Board of Trustees (the “Board”) has unanimously approved the reorganizations of the specified funds (“Target Funds”)
listed in the table below into certain existing
Wells Fargo Advantage Funds
(“Acquiring Funds”) also listed in the table. The reorganizations were proposed by Wells Fargo Funds Management, LLC, investment adviser to the
Wells Fargo Advantage
Funds
.
|
Target Fund
|
Acquiring Fund
|
|
Wells Fargo Advantage Diversified Small Cap Fund
|
Wells Fargo Advantage Small Company Growth Fund
|
|
Wells Fargo Advantage Equity Value Fund
|
Wells Fargo Advantage Intrinsic Value Fund
|
|
Wells Fargo Advantage Small/Mid Cap Core Fund
|
Wells Fargo Advantage Common Stock Fund
|
Each reorganization is subject to the satisfaction of a number of conditions, including approval by the shareholders of the Target Funds at special meetings of the shareholders expected to be held in February 2013. Each reorganization is intended to be a
tax-free transaction and it is anticipated that no gain or loss will be recognized by shareholders as a result of the reorganization for U.S. federal income tax purposes. Additionally, fund shareholders will not incur any sales loads or similar transaction
charges as a result of the reorganizations.
Each reorganization, if it is approved by shareholders and all conditions to the closing are satisfied, is expected to occur in March 2013. Prior to each reorganization, Target Fund shareholders may continue to purchase and redeem their shares subject to the
limitations described in the Target Fund’s prospectus.
No shareholder action is necessary at this time. Additional information, including a description of the applicable reorganization and information about fees, expenses, and risk factors, will be provided to shareholders of each Target Fund in a Prospectus/Proxy
Statement that is expected to be mailed to shareholders in December 2012. The Prospectus/Proxy Statement will provide information regarding the date, time and location of the shareholder meeting where each reorganization will be considered. Only shareholders of
record as of the close of business on November 30, 2012 will receive the Prospectus/Proxy Statement and will be entitled to vote at the meeting or any adjournment(s) thereof.
November 7,
2012
EGAM112/P903SP
Small/Mid Cap Core Fund Summary
Class/Ticker: Administrator Class - ECOIX
Summary Prospectus
February 1, 2012
|
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 wellsfargo.com/advantagefunds. 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"), dated February 1, 2012, and statement of additional information ("SAI"), dated February 1, 2012, 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 long-term 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)
1
|
|
|
|
|
Management Fees
|
0.75%
|
|
Distribution (12b-1) Fees
|
0.00%
|
|
Other Expenses
|
0.80%
|
|
Total Annual Fund Operating Expenses
|
1.55%
|
|
Fee Waivers
|
0.40%
|
|
Total Annual Fund Operating Expenses After Fee Waiver
2
|
1.15%
|
|
1.
|
Expenses have been adjusted as necessary from amounts incurred during the Fund's most recent fiscal year to reflect current
fees and expenses.
|
|
2.
|
The Adviser has committed through July 18, 2013 to waive fees and/or reimburse expenses to the extent necessary to cap the
Fund's Total Annual Fund Operating Expenses After Fee Waiver, excluding certain expenses, at the amount shown above. After
this time, such cap may be changed 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:
|
Administrator Class
|
|
1 Year
|
$117
|
|
3 Years
|
$409
|
|
5 Years
|
$767
|
|
10 Years
|
$1,775
|
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 48% 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 equity securities of small to medium-capitalization
companies. We invest principally in equity securities of small and medium-capitalization companies, which we define as securities
of companies with market capitalizations within the range of the Russell 2500™ Index. The market capitalization range of the
Russell 2500™ Index was approximately $22 million to $7.3 billion, as of June 27, 2011, and is expected to change frequently.
Generally, we avoid investments in issuers for which the primary industry classification is alcohol, gaming or tobacco.
We utilize a combination of quantitative methods and fundamental analysis to select a core portfolio of small- to medium-capitalization
companies that we believe are relatively undervalued and exhibit the likelihood to meet or exceed future earnings expectations.
Our quantitative analysis is based on a proprietary total composite model that considers valuation, earnings and trading momentum
characteristics to rank securities. Stocks that are attractively ranked by the total composite model are candidates for purchase.
Such candidates undergo further qualitative analysis, which may include an evaluation of a company's management strength,
products and/or services, competition and risk profile. In general, a stock may be sold if it has declining earnings expectations
or a significantly overvalued stock price, as indicated by lower rankings within the total composite model. Upon the sale
of any security, we seek to invest the proceeds in the most attractive security, in light of all relevant considerations,
in which the Fund may invest in accordance with the Fund's investment restrictions.
Principal Investment Risks
An investment in the Fund is not a deposit of Wells Fargo Bank, N.A. or its affiliates and is not insured or guaranteed by
the Federal Deposit Insurance Corporation or any other governmental agency.
Growth Style Investment Risk.
Growth stocks may be more expensive relative to the values of other stocks and carry potential for significant volatility
and loss.
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.
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.
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.
Smaller Company Securities Risk.
Securities of companies with smaller market capitalizations tend to be more volatile and less liquid than larger company
stocks.
Value Style Investment Risk.
Value stocks may lose value and may be subject to prolonged depressed valuations.
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 an appropriate broad-based
index(es). 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
wellsfargo.com/advantagefunds
.
Calendar Year Total Returns as of 12/31 each year
Administrator Class
|
Highest Quarter: 3rd Quarter 2009
|
+15.87%
|
|
Lowest Quarter: 4th Quarter 2008
|
-31.50%
|
|
Average Annual Total Returns for the periods ended 12/31/2011
|
|
|
Inception Date of Share Class
|
1 Year
|
Performance Since 12/17/2007
|
|
Administrator Class (before taxes)
|
12/17/2007
|
-2.51%
|
-2.75%
|
|
Administrator Class (after taxes on distributions)
|
12/17/2007
|
-2.51%
|
-2.75%
|
|
Administrator Class (after taxes on distributions and the sale of Fund Shares)
|
12/17/2007
|
-1.63%
|
-2.32%
|
|
Russell 2500™ Index (reflects no deduction for fees, expenses, or taxes)
|
|
-2.51%
|
1.89%
|
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
|
Investment Adviser
|
Investment Sub-adviser
|
Portfolio Manager, Title/Managed Since
|
|
Wells Fargo Funds Management, LLC
|
Golden Capital Management, LLC
|
John R. Campbell, CFA,
Portfolio Manager/2007
|
Transaction Policies
Administrator Class shares are offered for direct investment by institutions such as pension and profit sharing plans, employee
benefit trusts, endowments, foundations and corporations. Administrator Class shares may also be offered through certain financial
intermediaries that may charge their customers transaction or other fees.
|
Institutions Purchasing Fund Shares
|
To Place Orders or Redeem Shares
|
|
Minimum Initial Investment
Administrator Class: $1 million (certain eligible investors may not be subject to a minimum initial investment)
Minimum Additional Investment
Administrator Class: None
Opening an Account
Institutions which currently have another account with
Wells Fargo Advantage Funds
may open an account by phone or internet. If the institution does not have an account, contact your investment representative.
|
Mail:
Wells Fargo Advantage Funds
P.O. Box 8266
Boston, MA 02266-8266
Internet:
wellsfargo.com/advantagefunds
Phone or Wire:
1-800-222-8222
Contact your investment representative.
|
In general, you can buy or sell shares of the Fund by mail, internet, phone or wire on any business day. You also may buy
and sell shares through a financial professional.
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. 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
|
SUPPLEMENT TO THE PROSPECTUSES
AND SUMMARY PROSPECTUSES
OF
WELLS FARGO ADVANTAGE EQUITY GATEWAY FUNDS
For
Diversified Small Cap Fund and Equity Value Fund
WELLS FARGO ADVANTAGE SMALL AND MID CAP STOCK FUNDS
For Small/Mid Cap Core Fund
Reorganizations and Meeting of Shareholders
The Wells Fargo Funds Trust Board of Trustees (the “Board”) has unanimously approved the reorganizations of the specified funds (“Target Funds”)
listed in the table below into certain existing
Wells Fargo Advantage Funds
(“Acquiring Funds”) also listed in the table. The reorganizations were proposed by Wells Fargo Funds Management, LLC, investment adviser to the
Wells Fargo Advantage
Funds
.
|
Target Fund
|
Acquiring Fund
|
|
Wells Fargo Advantage Diversified Small Cap Fund
|
Wells Fargo Advantage Small Company Growth Fund
|
|
Wells Fargo Advantage Equity Value Fund
|
Wells Fargo Advantage Intrinsic Value Fund
|
|
Wells Fargo Advantage Small/Mid Cap Core Fund
|
Wells Fargo Advantage Common Stock Fund
|
Each reorganization is subject to the satisfaction of a number of conditions, including approval by the shareholders of the Target Funds at special meetings of the shareholders expected to be held in February 2013. Each reorganization is intended to be a
tax-free transaction and it is anticipated that no gain or loss will be recognized by shareholders as a result of the reorganization for U.S. federal income tax purposes. Additionally, fund shareholders will not incur any sales loads or similar transaction
charges as a result of the reorganizations.
Each reorganization, if it is approved by shareholders and all conditions to the closing are satisfied, is expected to occur in March 2013. Prior to each reorganization, Target Fund shareholders may continue to purchase and redeem their shares subject to the
limitations described in the Target Fund’s prospectus.
No shareholder action is necessary at this time. Additional information, including a description of the applicable reorganization and information about fees, expenses, and risk factors, will be provided to shareholders of each Target Fund in a Prospectus/Proxy
Statement that is expected to be mailed to shareholders in December 2012. The Prospectus/Proxy Statement will provide information regarding the date, time and location of the shareholder meeting where each reorganization will be considered. Only shareholders of
record as of the close of business on November 30, 2012 will receive the Prospectus/Proxy Statement and will be entitled to vote at the meeting or any adjournment(s) thereof.
November 7,
2012
EGAM112/P903SP
Small/Mid Cap Core Fund Summary
Class/Ticker: Institutional Class - ECONX
Summary Prospectus
February 1, 2012
|
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 wellsfargo.com/advantagefunds. 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"), dated February 1, 2012, and statement of additional information ("SAI"), dated February 1, 2012, 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 long-term 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)
1
|
|
|
|
|
Management Fees
|
0.75%
|
|
Distribution (12b-1) Fees
|
0.00%
|
|
Other Expenses
|
0.53%
|
|
Total Annual Fund Operating Expenses
|
1.28%
|
|
Fee Waivers
|
0.33%
|
|
Total Annual Fund Operating Expenses After Fee Waiver
2
|
0.95%
|
|
1.
|
Expenses have been adjusted as necessary from amounts incurred during the Fund's most recent fiscal year to reflect current
fees and expenses.
|
|
2.
|
The Adviser has committed through July 18, 2013 to waive fees and/or reimburse expenses to the extent necessary to cap the
Fund's Total Annual Fund Operating Expenses After Fee Waiver, excluding certain expenses, at the amount shown above. After
this time, such cap may be changed 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:
|
Institutional Class
|
|
1 Year
|
$97
|
|
3 Years
|
$339
|
|
5 Years
|
$637
|
|
10 Years
|
$1,486
|
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 48% 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 equity securities of small to medium-capitalization
companies. We invest principally in equity securities of small and medium-capitalization companies, which we define as securities
of companies with market capitalizations within the range of the Russell 2500™ Index. The market capitalization range of the
Russell 2500™ Index was approximately $22 million to $7.3 billion, as of June 27, 2011, and is expected to change frequently.
Generally, we avoid investments in issuers for which the primary industry classification is alcohol, gaming or tobacco.
We utilize a combination of quantitative methods and fundamental analysis to select a core portfolio of small- to medium-capitalization
companies that we believe are relatively undervalued and exhibit the likelihood to meet or exceed future earnings expectations.
Our quantitative analysis is based on a proprietary total composite model that considers valuation, earnings and trading momentum
characteristics to rank securities. Stocks that are attractively ranked by the total composite model are candidates for purchase.
Such candidates undergo further qualitative analysis, which may include an evaluation of a company's management strength,
products and/or services, competition and risk profile. In general, a stock may be sold if it has declining earnings expectations
or a significantly overvalued stock price, as indicated by lower rankings within the total composite model. Upon the sale
of any security, we seek to invest the proceeds in the most attractive security, in light of all relevant considerations,
in which the Fund may invest in accordance with the Fund's investment restrictions.
Principal Investment Risks
An investment in the Fund is not a deposit of Wells Fargo Bank, N.A. or its affiliates and is not insured or guaranteed by
the Federal Deposit Insurance Corporation or any other governmental agency.
Growth Style Investment Risk.
Growth stocks may be more expensive relative to the values of other stocks and carry potential for significant volatility
and loss.
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.
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.
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.
Smaller Company Securities Risk.
Securities of companies with smaller market capitalizations tend to be more volatile and less liquid than larger company
stocks.
Value Style Investment Risk.
Value stocks may lose value and may be subject to prolonged depressed valuations.
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 an appropriate broad-based
index(es). 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
wellsfargo.com/advantagefunds
.
Calendar Year Total Returns as of 12/31 each year
Institutional Class
|
Highest Quarter:
3rd Quarter 2009
|
+15.87%
|
|
Lowest Quarter:
4th Quarter 2008
|
-31.50%
|
|
Average Annual Total Returns for the periods ended 12/31/2011
|
|
|
Inception Date of Share Class
|
1 Year
|
5 Year
|
Performance Since 12/17/2007
|
|
Institutional Class (before taxes)
|
7/30/2010
|
-2.40%
|
N/A
|
-2.69%
|
|
Institutional Class (after taxes on distributions)
|
7/30/2010
|
-2.40%
|
N/A
|
-2.69%
|
|
Institutional Class (after taxes on distributions and the sale of Fund Shares)
|
7/30/2010
|
-1.56%
|
N/A
|
-2.27%
|
|
Russell 2500™ Index (reflects no deduction for fees, expenses, or taxes)
|
|
-2.51%
|
N/A
|
1.89%
|
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
|
Investment Adviser
|
Investment Sub-adviser
|
Portfolio Manager, Title/Managed Since
|
|
Wells Fargo Funds Management, LLC
|
Golden Capital Management, LLC
|
John R. Campbell, CFA,
Portfolio Manager/2007
|
Transaction Policies
Institutional Class shares are offered primarily for direct investment by institutions such as pension and profit sharing
plans, employee benefit trusts, endowments, foundations and corporations. Institutional Class shares may also be offered through
certain financial intermediaries that may charge their customers transaction or other fees.
|
Institutions Purchasing Fund Shares
|
To Place Orders or Redeem Shares
|
|
Minimum Initial Investment
Institutional Class: $5 million (certain eligible investors may not be subject to a minimum initial investment)
Minimum Additional Investment
Institutional Class: None
Opening an Account
Institutions which currently have another account with
Wells Fargo Advantage Funds
may open an account by phone or internet. If the institution does not have an account, contact your investment representative.
|
Mail:
Wells Fargo Advantage Funds
P.O. Box 8266
Boston, MA 02266-8266
Internet:
wellsfargo.com/advantagefunds
Phone or Wire:
1-800-222-8222
Contact your investment representative.
|
In general, you can buy or sell shares of the Fund by mail, internet, phone or wire on any business day. You also may buy
and sell shares through a financial professional.
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. 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
|
SUPPLEMENT TO THE PROSPECTUSES
AND SUMMARY PROSPECTUSES
OF
WELLS FARGO ADVANTAGE EQUITY GATEWAY FUNDS
For
Diversified Small Cap Fund and Equity Value Fund
WELLS FARGO ADVANTAGE SMALL AND MID CAP STOCK FUNDS
For Small/Mid Cap Core Fund
Reorganizations and Meeting of Shareholders
The Wells Fargo Funds Trust Board of Trustees (the “Board”) has unanimously approved the reorganizations of the specified funds (“Target Funds”)
listed in the table below into certain existing
Wells Fargo Advantage Funds
(“Acquiring Funds”) also listed in the table. The reorganizations were proposed by Wells Fargo Funds Management, LLC, investment adviser to the
Wells Fargo Advantage
Funds
.
|
Target Fund
|
Acquiring Fund
|
|
Wells Fargo Advantage Diversified Small Cap Fund
|
Wells Fargo Advantage Small Company Growth Fund
|
|
Wells Fargo Advantage Equity Value Fund
|
Wells Fargo Advantage Intrinsic Value Fund
|
|
Wells Fargo Advantage Small/Mid Cap Core Fund
|
Wells Fargo Advantage Common Stock Fund
|
Each reorganization is subject to the satisfaction of a number of conditions, including approval by the shareholders of the Target Funds at special meetings of the shareholders expected to be held in February 2013. Each reorganization is intended to be a
tax-free transaction and it is anticipated that no gain or loss will be recognized by shareholders as a result of the reorganization for U.S. federal income tax purposes. Additionally, fund shareholders will not incur any sales loads or similar transaction
charges as a result of the reorganizations.
Each reorganization, if it is approved by shareholders and all conditions to the closing are satisfied, is expected to occur in March 2013. Prior to each reorganization, Target Fund shareholders may continue to purchase and redeem their shares subject to the
limitations described in the Target Fund’s prospectus.
No shareholder action is necessary at this time. Additional information, including a description of the applicable reorganization and information about fees, expenses, and risk factors, will be provided to shareholders of each Target Fund in a Prospectus/Proxy
Statement that is expected to be mailed to shareholders in December 2012. The Prospectus/Proxy Statement will provide information regarding the date, time and location of the shareholder meeting where each reorganization will be considered. Only shareholders of
record as of the close of business on November 30, 2012 will receive the Prospectus/Proxy Statement and will be entitled to vote at the meeting or any adjournment(s) thereof.
November 7,
2012
EGAM112/P903SP
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