With over $179.1 billion in portfolio assets under management, Wells Fargo is a highly diversified financial services company with operations spanning the globe. The company has a legacy spanning 150 years in the financial services sector and is one of the four largest banks in the US. It 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. To view the Zacks Rank and past performance of all Wells Fargo funds, then click here.
Wells Fargo Advantage Growth A (SGRAX) invests primarily in equity securities of companies which are expected to grow their earnings and revenues significantly in the future. Up to 25% of the fund’s assets are invested in foreign securities through ADRs and similar instruments. The fund has returned 23.52% over the last one year period.
The Wells Fargo mutual fund has a minimum initial investment of $1,000 and an expense ratio of 1.29% compared to a category average of 1.33%.
Wells Fargo Advantage Utility &Telecom A (EVUAX) seeks capital growth and current income. Common, preferred and convertible stocks as well as bonds and convertible debentures of utility and telecom companies constitute its major investments. The fund has a five year annualized return of 3.62%.
Timothy O’Brien is the fund manager and has managed this Wells Fargo mutual fund since 2002.
Wells Fargo Advantage Enterprise A (SENAX) invests in equity securities of companies regardless of their size. However, it concentrates on purchasing stocks of mid-cap companies which are included in the Russell Midcap index. It may also utilize instruments such as ADRs to invest in foreign securities. The fund has returned 16.86% over the last one year period.
The Wells Fargo mutual fund has a minimum initial investment of $1,000 and an expense ratio of 1.36% compared to a category average of 1.47%.
Wells Fargo Advantage Income Plus A (STYAX) seeks total return by investing the majority of its assets in income generating securities. Up to 35% of its assets are utilized to purchase in debt securities rated below investment grade. The fund has a three year annualized return of 8.62%.
As of February 2010, this Wells Fargo mutual fund held 188 issues, with 17.69% of its total assets invested in Wfa Money Market Trust Par 645.
Wells Fargo Advantage Precious Metals A (EKWAX) invests the majority of its precious metals securities. The fund invests without limit in foreign equity securities, including ADRs. Not more than 40% of its total assets are utilized to purchase emerging market securities. The fund has a ten year annualized return of 26.33%.
Michael P. Bradshaw is the fund manager and has managed this Wells Fargo mutual fund since 2007.
To view the Zacks Rank and past performance of all Wells Fargo funds, then click here.
About Zacks Mutual Fund Rank
By applying the Zacks Rank to mutual funds, investors can find funds that not only outpaced the market in the past but are also expected to outperform going forward. Learn more about the Zacks Mutual Fund Rank at http://www.zacks.com/funds/mutualfund/
