WELLS FARGO LAUNCHES LARGE CAP APPRECIATION FUND
SAN FRANCISCO — August 31, 2001
Wells Fargo Funds Management, LLC, a subsidiary of Wells Fargo & Co. (WFC) and investment advisor to the Wells Fargo Funds, announced today that it is launching the Wells Fargo Large Cap Appreciation Fund. The Fund is a large cap fund that is clearly positioned in the large cap core peer group composite category.
"We believe it has always been important to build a portfolio structured around relative growth, relative valuation and a disciplined way of looking at companies, and that this has become ever more relevant to investors given recent market volatility, " said Mike Hogan, President of Wells Fargo Funds. "We have selected Cadence Capital Management to sub-advise the Wells Fargo Large Cap Appreciation Fund because they have demonstrated the ability to stick to a disciplined, value-added investing approach. This launch marks Wells Fargo Funds' recognition that common sense, rational investing is back in vogue," continued Hogan.
Cadence Capital Management provides investment management services to institutional investors, as well as to individuals through managed account programs. It enjoys a longstanding relationship with a stellar list of blue chip clients. Wayne A. Wicker, CFA serves as Senior Portfolio Manager of the Wells Fargo Large Cap Appreciation Fund. The Fund management team also consists of three additional managers and eight research analysts who have sector specific responsibilities. The Fund's strategy is based on a growth at a reasonable price philosophy, seeking to invest in stocks that have the best combination of improving fundamentals and reasonable prices.
"We believe in investing in growing, profitable companies at prices that make sense. We adhere to our philosophy at all times, in all markets," says Wicker. "Growth rates are compared to the industry and compared to the broad markets. Valuations are compared to their industries and broad markets. Our team has no problem in paying 30 times earnings for a company, if it seems reasonable and provided we are confident that it has growth rates, profitability and economic value creation."
The introduction of the Fund builds upon Wells Fargo Funds distinct heritage of investment innovation. The new Wells Fargo Large Cap Appreciation Fund joins the family of 67 mutual funds managed by Wells Fargo Funds Management, LLC. With over $71 billion in assets under management, as of July 31, 2001, Wells Fargo Funds has become one of the nation's largest fund families. It part of the Investment Management Group of activities at Wells Fargo which also include Wells Capital Management, Galliard Capital Management and Wells Fargo's 401(k) and custody services.
Wells Fargo Funds Management, LLC, a wholly owned subsidiary of Wells Fargo & Company, provides investment advisory and administrative services for the Wells Fargo Funds. Other affiliates of Wells Fargo & Company provide subadvisory and other services for the Funds. The Funds are distributed by STEPHENS INC., Member NYSE/SIPC. Wells Fargo & Company and its affiliates are not affiliated with Stephens Inc. For more complete information about the Wells Fargo Large Cap Appreciation Fund, including risks, fees and expenses, obtain a prospectus by calling 1-800-222-8222. Please read the prospectus carefully before investing.