Wells Fargo Asset Management (WFAM) won seven 2020 Lipper Fund
Awards for consistently strong, risk-adjusted returns relative to
its peers for 3-, 5- or 10-year performance. The winners were
announced last night at the fund research and analysis
organization’s annual awards dinner in New York.
“We are proud to receive this recognition and congratulate our
investment teams for their accomplishments,” said Nico Marais, CEO
of WFAM. “One of our key objectives is to be an investor of choice
for our clients. Delivering consistent performance, as acknowledged
by the Lipper Fund awards, clearly highlights the expertise of the
WFAM team.”
Six of WFAM’s funds, managed by the WFAM Multi-Asset Solutions
team, are consecutive multiyear Lipper Fund Award winners:
- Wells Fargo Diversified Capital Builder Fund.
- Wells Fargo Index Asset Allocation Fund.
- Wells Fargo Dynamic Target 2015 Fund.
- Wells Fargo Dynamic Target 2020 Fund.
- Wells Fargo Dynamic Target 2025 Fund.
- Wells Fargo Dynamic Target 2030 Fund.
Kirk Hartman, president and global CIO of WFAM, said that
Lipper’s recognition of several Multi-Asset Solutions funds
“underscores WFAM’s competitive product set, as exemplified through
the Wells Fargo Dynamic Target Date Fund suite. After establishing
a three-year track record, the funds’ R6 share classes have been
recognized by Lipper for top performance and achieved 5-star
Overall Morningstar ratings1. We are thrilled that these funds have
performed well relative to peers and are helping our clients pursue
their goals.
“We are particularly excited that Senior Portfolio Managers
Michael Smith and Chris Warner with WFAM’s Fundamental Growth
Equity team have been recognized by Lipper for their talent and
achievements.”
1 The Overall Morningstar Rating™ is a weighted average of the
3-, 5-, and 10-year (if applicable) ratings and is based on
risk-adjusted returns as of December 31, 2019
WFAM’s 2020 Lipper Fund Award winners are shown in the following
table:
Fund/class
Lipper classification
Winner years
Portfolio managers
Wells Fargo Diversified Capital Builder
Fund–Institutional
Mixed-Asset Target Allocation Growth
Funds
5-year period (out of 386 funds)
Robert Junkin and Margie
Patel
Wells Fargo Dynamic Target 2015
Fund–R6
Mixed-Asset Target 2015 Funds
3-year period (out of 94 funds)
Christian Chan, , CFA®; Kandarp
Acharya, CFA®, FRM; and Petros Bocray, CFA®, FRM
Wells Fargo Dynamic Target 2020
Fund–R6
Mixed-Asset Target 2020 Funds
3-year period (out of 178 funds)
Christian Chan, Kandarp Acharya,
and Petros Bocray
Wells Fargo Dynamic Target 2025
Fund–R6
Mixed-Asset Target 2025 Funds
3-year period (out of 185 funds)
Christian Chan, Kandarp Acharya,
and Petros Bocray
Wells Fargo Dynamic Target 2030
Fund–R6
Mixed-Asset Target 2030 Funds
3-year period (out of 198 funds)
Christian Chan, Kandarp Acharya,
and Petros Bocray
Wells Fargo Endeavor Select
Fund–Institutional
Large-Cap Growth Funds
3-year period (out of 554 funds)
Michael Smith and Christopher
Warner
Wells Fargo Index Asset Allocation
Fund–Administrator
Mixed-Asset Target Allocation Moderate
Funds
10-year period (out of 352 funds)
Christian Chan, Kandarp Acharya,
and Petros Bocray
CFA® and Chartered Financial Analyst® are trademarks owned by
CFA Institute.
About the Refinitiv Lipper Fund Awards
The 2020 Lipper Fund Awards are based on data as of Nov. 30,
2019. For more than 30 years and in 17 countries worldwide, the
highly respected Refinitiv Lipper Awards have honored funds and
fund management firms that have excelled in providing consistently
strong risk-adjusted performance relative to their peers and focus
the investment world on top funds. The merit of the winners is
based on objective, quantitative criteria. This, coupled with the
unmatched depth of fund data, results in a unique level of prestige
and ensures the award has lasting value. Renowned fund data and
proprietary methodology is the foundation of this prestigious award
qualification, recognizing excellence in fund management. Find out
more at www.lipperfundawards.com.
The awards listed are for the indicated share classes only.
Other share classes of the funds may have different results.
Past performance is no guarantee of future results.
The Refinitiv Lipper Fund Awards, granted annually, highlight
funds and fund companies that have excelled in delivering
consistently strong risk-adjusted performance relative to their
peers.
The Refinitiv Lipper Fund Awards are based on the Lipper Leader
for Consistent Return rating, which is a risk-adjusted performance
measure calculated over 36, 60 and 120 months. The fund with the
highest Lipper Leader for Consistent Return (Effective Return)
value in each eligible classification wins the Refinitiv Lipper
Fund Award. For more information, see lipperfundawards.com
Although Refinitiv Lipper makes reasonable efforts to ensure the
accuracy and reliability of the data contained herein, the accuracy
is not guaranteed by Refinitiv Lipper.
The Morningstar Rating™ for funds, or star rating, is calculated
for managed products (including mutual funds, variable annuity and
variable life subaccounts, exchange-traded funds, closed-end funds,
and separate accounts) with at least a three-year history.
Exchange-traded funds and open-ended mutual funds are considered a
single population for comparative purposes. It is calculated based
on a Morningstar risk-adjusted return measure that accounts for
variation in a managed product's monthly excess performance,
placing more emphasis on downward variations and rewarding
consistent performance. The Morningstar Rating does not include any
adjustment for sales loads. The top 10% of products in each product
category receive 5 stars, the next 22.5% receive 4 stars, the next
35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom
10% receive 1 star. The Overall Morningstar Rating for a managed
product is derived from a weighted average of the performance
figures associated with its 3-, 5-, and 10-year (if applicable)
Morningstar Rating metrics. The weights are: 100% 3-year rating for
36–59 months of total returns, 60% 5-year rating/40% 3-year rating
for 60–119 months of total returns, and 50% 10-year rating/30%
5-year rating/20% 3-year rating for 120 or more months of total
returns. While the 10-year overall star rating formula seems to
give the most weight to the 10-year period, the most recent 3-year
period actually has the greatest impact because it is included in
all three rating periods. Across U.S.-domiciled Target-Date 2015
funds, the Wells Fargo Dynamic Target 2015 received 5 stars among
99 funds for the 3-year period. Across U.S. domiciled Target-Date
2020 funds, the Wells Fargo Dynamic Target Date 2020 received 5
stars among 198 funds for the 3-year period. Across U.S. domiciled
Target-Date 2025 funds, the Wells Fargo Dynamic Target Date 2025
received 5 stars among 196 funds for the 3-year period. Across U.S.
domiciled Target-Date 2030 funds, the Wells Fargo Dynamic Target
Date 2030 fund received 5 stars among 206 funds during the 3-year
period. The Morningstar Rating is for the R6 Class only; other
classes may have different performance characteristics. Past
performance is no guarantee of future results.
About Wells Fargo Funds
The target date represents the year in which investors may
likely begin withdrawing assets. The funds gradually seek to reduce
market risk as the target date approaches and after it arrives by
decreasing equity exposure and increasing fixed income exposure.
The principal value is not guaranteed at any time, including at the
target date.
Mutual fund investing involves risks, including the possible
loss of principal, and may not be appropriate for all investors.
Stock values fluctuate in response to the activities of individual
companies and general market and economic conditions. Bond values
fluctuate in response to the financial condition of individual
issuers, general market and economic conditions, and changes in
interest rates. Changes in market conditions and government
policies may lead to periods of heightened volatility in the bond
market and reduced liquidity for certain bonds held by the fund. In
general, when interest rates rise, bond values fall and investors
may lose principal value. Interest rate changes and their impact on
the fund and its share price can be sudden and unpredictable. Funds
that concentrate their investments in a single industry may face
increased risk of price fluctuation over more diversified funds due
to adverse developments within that industry. Foreign investments
are especially volatile and can rise or fall dramatically due to
differences in the political and economic conditions of the host
country. These risks are generally intensified in emerging markets.
Smaller- and mid-cap stocks tend to be more volatile and less
liquid than those of larger companies. High-yield securities have a
greater risk of default and tend to be more volatile than
higher-rated debt securities. Consult a fund's prospectus for
additional information on these and other risks.
Performance for the fund or the class shown reflects a
predecessor fund’s or class’s performance and may be adjusted to
reflect the fund’s or class’s expenses as applicable.
The manager has contractually committed to certain fee waivers
and/or expense reimbursements. Without these reductions, the funds’
returns would have been lower and rankings may have been lower.
These reductions may be discontinued.
Carefully consider a fund's investment objectives, risks,
charges, and expenses before investing. For a current prospectus
and, if available, a summary prospectus, containing this and other
information, visit wfam.com. Read it carefully before
investing.
About Wells Fargo Asset Management
At Wells Fargo Asset Management, we put the client at the center
of everything we do. Our commitment: Help clients achieve what
matters most to them on their path to financial well-being. We do
this by channeling the collective wisdom of our specialized
investment teams (backed by over 510 investment professionals) into
solutions designed to help meet clients' goals.
We place a relentless focus on pursuing consistent and positive
risk-adjusted returns, with the support of our independent risk
management teams. Together, we strive to help our clients build
portfolios aimed at generating successful outcomes and defending
them against uncertainty.
With more than $509 billion in assets under management2 and
offices around the world, Wells Fargo Asset Management has the
resources and reach to help clients across the globe—be it
institutions or intermediaries whose focus on the client is akin to
our own.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a diversified,
community-based financial services company with $1.9 trillion in
assets3. Wells Fargo’s vision is to satisfy our customers’
financial needs and help them succeed financially. Founded in 1852
and headquartered in San Francisco, Wells Fargo provides banking,
investment and mortgage products and services, as well as consumer
and commercial finance, through 7,400 locations, more than 13,000
ATMs, the internet (wellsfargo.com) and mobile banking, and has
offices in 32 countries and territories to support customers who
conduct business in the global economy. With approximately 260,000
team members, Wells Fargo serves one in three households in the
United States. Wells Fargo & Company was ranked No. 29 on
Fortune’s 2019 rankings of America’s largest corporations. News,
insights and perspectives from Wells Fargo are also available at
Wells Fargo Stories.
2 Assets value is as of Dec. 31, 2019 and includes $90.7 billion
from Galliard Capital Management, an investment advisor that is not
part of the WFAM trade name/GIPS firm. 3 Assets value is as of Dec.
31, 2019
Wells Fargo Asset Management (WFAM) is the trade name for
certain investment advisory/management firms owned by Wells Fargo
& Company. These firms include but are not limited to Wells
Capital Management Incorporated and Wells Fargo Funds Management,
LLC. Certain products managed by WFAM entities are distributed by
Wells Fargo Funds Distributor, LLC (a broker-dealer and Member
FINRA).
This material is for general informational and educational
purposes only and is NOT intended to provide investment advice or a
recommendation of any kind—including a recommendation for any
specific investment, strategy, or plan.
Some of the information contained herein may include
forward-looking statements about the expected investment activities
of the funds. These statements provide no assurance as to the
funds’ actual investment activities or results. Readers must make
their own assessment of the information contained herein and
consider such other factors as they may deem relevant to their
individual circumstances. PAR-0320-04918
INVESTMENT PRODUCTS: NOT FDIC INSURED ● NO BANK GUARANTEE ●
MAY LOSE VALUE
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version on businesswire.com: https://www.businesswire.com/news/home/20200306005056/en/
Media Robert Julavits, 917-260-2448
robert.w.julavits@wellsfargo.com
Sarah Kerr, 917-260-1582 skerr@wellsfargo.com
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