| Portfolio Manager Change for Wells Fargo Advantage Multi-Sector Income Fund | |
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SAN FRANCISCO--(BUSINESS WIRE)-- Effective today, Senior Portfolio Manager Ashok Bhatia, CFA, will be added to the Wells Fargo Advantage Multi-Sector Income Fund (NYSE MKT: ERC). Mr. Bhatia, one of 10 managers of the fund, replaces Senior Portfolio Manager Michael Bray, who is on medical leave from Wells Capital Management, Inc. (WellsCap), a subadvisor to the Wells Fargo Advantage Funds. Mr. Bhatia is part of a broader team at WellsCap that focuses on managing the fund’s mortgage/corporate sleeve. Mr. Bhatia is co-lead of WellsCap’s Customized Fixed-Income team and senior portfolio manager. He is a 20-year veteran of the investment industry. Mr. Bhatia spent the past 10 years as a lead global macro portfolio manager with two large multistrategy hedge funds, most recently at Balyasny Asset Management L.P. and, prior to that, Stark Investments. Today, he joined WellsCap and is based in Menomonee Falls, Wisconsin. In 2004, Mr. Bhatia left Strong Capital Management, where he was a portfolio manager on what is now the WellsCap Customized Fixed-Income Team. (Strong was acquired by Wells Fargo on January 1, 2005, and the investment teams became part of WellsCap.) Mr. Bhatia had previously worked for Morgan Stanley and LaSalle Advisors, focusing on commercial and residential mortgage-backed securities trading. He earned a bachelor’s degree from the University of Michigan and a master’s degree in business administration from the University of Chicago. Mr. Bhatia has earned the right to use the Chartered Financial Analyst® (CFA®) designation. The Wells Fargo Advantage Multi-Sector Income Fund is a closed-end income fund. The fund’s investment objective is to seek a high level of current income consistent with limiting its overall exposure to domestic interest-rate risk. More information about the fund can be found on the Wells Fargo Advantage Funds website. The closed-end funds (CEFs) are no longer offered as initial public offerings. Investors who wish to buy or sell fund shares of a CEF need to place orders through an intermediary, or broker, who will buy or sell fund shares on the stock exchange in a process identical to the purchase or sale of any other listed stock. |
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Wells Fargo is a exploration company based in United states of america. Wells Fargo is listed in United States of America. Its market capitalisation is US$ 299.4 billions as of today (€ 279.8 billions). Its stock quote reached its lowest recent point on July 03, 1997 at US$ 10.01, and its highest recent level on April 26, 2024 at US$ 59.91. Wells Fargo has 4 997 319 680 shares outstanding. |