The Markets January 31, 2007

Wells Fargo Revises Target Date Share Class Offerings

Wells Fargo Funds Management announced Wednesday that it has added a no-load share class to its lineup of target date funds and that it will close its A, B and C share classes of target date funds to new investors.
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According to a press release from the fund management arm of Wells Fargo & Company, current investors will still be able to access the A, B and C share classes.

“We have introduced the no-load share class with the goal of assisting the do-it-yourself investor who is seeking a long-term asset allocation retirement solution,” said Andrew Owen, head of Wells Fargo Fund Management’s Investment Review and Product Group, in the release. “Additionally, the new share class provides a seamless avenue for retirement investors who wish to roll over their 401(k) assets.”

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According to the release, the no-load share class applies to the following funds:

  • Wells Fargo Advantage Dow Jones Target Today Fund
  • Wells Fargo Advantage Dow Jones Target 2010 Fund
  • Wells Fargo Advantage Dow Jones Target 2020 Fund
  • Wells Fargo Advantage Dow Jones Target 2030 Fund
  • Wells Fargo Advantage Dow Jones Target 2040 Fund

The firm began offering the target date funds, which track the Dow Jones Index, in June 2006.

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