The Wells Fargo Advantage Global Dividend Opportunity Fund has reported a portfolio management change.
Effective immediately, Christian L. Chan, CFA, and Kandarp Acharya, CFA, FRM (Financial Risk Manager), of the Wells Capital Management Solutions team are replacing Portfolio Manager Jeffrey P Mellas as members of the portfolio management team of the Wells Fargo Fund.
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Chan and Acharya have assumed Mellas role in implementing the options strategy of the fund using quantitative and statistical analysis.
Portfolio manager Timothy O’Brien, CFA, will continue in his role managing the portion of the fund invested in equity securities.
Christian Chan, CFA, is a senior portfolio manager at Wells Capital Management and head of the WellsCap Solutions team. His prior positions include roles as the head of investments and portfolio manager on several asset allocation funds at Wells Fargo Funds Management and quantitative research manager at an institutional investment consultancy.
Kandarp Acharya, CFA, FRM, is a senior portfolio manager at WellsCap and a member of the WellsCap Solutions team. His background is in quantitative research, development of capital markets expectations, multi-asset class market risk modeling, risk management, and hedging and optimization strategies. His prior positions include roles in quantitative research, portfolio management, risk management, fixed-income analysis, and software development.
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By GlobalDataThese closed-end funds are no longer offered as an initial public offering, and shares are only offered through broker/dealers on the secondary market.
After the initial public offering, shares are bought and sold in the secondary marketplace, and the market price of the shares is determined by supply and demand, not by net asset value (NAV), and is often lower than the NAV. A closed-end fund is not required to buy its shares back from investors upon request.
High-yield, lower-rated bonds may contain more risk due to the increased possibility of default. Foreign investments may contain more risk due to the inherent risks associated with changing political climates, foreign market instability, and foreign currency fluctuations. Risks of international investing are magnified in emerging or developing markets.
Funds that concentrate their investments in a single industry or sector may face increased risk of price fluctuation over more diversified funds due to adverse developments within that industry or sector. Non diversified funds may face increased risk of price fluctuation over more diversified funds due to adverse developments within certain sectors. Small- and mid-cap securities may be subject to special risks associated with narrower product lines and limited financial resources compared with their large-cap counterparts.
The use of leverage results in certain risks including, among others, the likelihood of greater volatility of net asset value and the market price of common shares. Derivatives involve additional risks, including interest-rate risk, credit risk, the risk of improper valuation, and the risk of non correlation to the relevant instruments they are designed to hedge or to closely track. There are numerous risks associated with transactions in options on securities. Illiquid securities may be subject to wide fluctuations in market value and may be difficult to sell.
