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Wells Fargo

Publié le 17 décembre 2015

Wells Fargo Closed-End Funds Announce Share Repurchase Program

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Wells Fargo Closed-End Funds Announce Share Repurchase Program


The following closed-end funds managed by Wells Fargo Funds Management, LLC, a wholly owned subsidiary of Wells Fargo & Company, announced today an open-market share repurchase program:

  • Wells Fargo Income Opportunities Fund (NYSE MKT: EAD)
  • Wells Fargo Multi-Sector Income Fund (NYSE MKT: ERC)
  • Wells Fargo Utilities and High Income Fund (NYSE MKT: ERH)
  • Wells Fargo Global Dividend Opportunity Fund (EOD)

The funds’ Boards of Trustees has authorized the repurchase over a one-year period beginning December 17, 2015, of an aggregate of up to 10% of each fund’s outstanding shares in open-market transactions. The funds’ Boards of Trustees has delegated to Wells Fargo Funds Management, LLC, discretion to determine the amount and timing of repurchases of shares of each fund in accordance with the best interests of the fund and subject to applicable legal limitations. The funds’ Boards of Trustees will receive periodic reports on repurchase activity as part of its ongoing oversight over the program, which includes deciding whether to renew or discontinue the program.

The Wells Fargo Income Opportunities Fund is a closed-end high-yield bond fund. The fund’s investment objective is to seek a high level of current income. The fund may, as a secondary objective, seek capital appreciation to the extent it is consistent with its investment objective.

The Wells Fargo 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.

The Wells Fargo Utilities and High Income Fund is a closed-end equity and high-yield bond fund. The fund’s investment objective is to seek a high level of current income and moderate capital growth, with an emphasis on providing tax-advantaged dividend income.

The Wells Fargo Global Dividend Opportunity Fund is a closed-end fund investing primarily in a diversified portfolio of common stocks of U.S. and non-U.S. companies. The fund’s investment objective is to seek a high level of current income. The fund’s secondary objective is long-term growth of capital.

For more information on Wells Fargo’s closed-end funds, please visit our website.

These closed-end funds are no longer offered as an initial public offering, and shares are only offered through broker/dealers on the secondary market. Unlike an open-end mutual fund, a closed-end fund offers a fixed number of shares for sale. After the initial public offering, shares are bought and sold through broker/dealers 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. 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. When interest rates rise, the value of debt securities tends to fall. When interest rates decline, interest that a fund is able to earn or its investments in debt securities may also decline, but the value of those securities may increase. Changes in market conditions and government policies may lead to periods of heightened volatility in the debt securities market and reduced liquidity for certain fund investments. Interest-rate changes and their impact on the funds and their NAVs can be sudden and unpredictable.

The use of leverage results in certain risks, including, among others, the likelihood of greater volatility of the NAV 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 noncorrelation 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.

Wells Fargo Asset Management (WFAM) is a trade name used by the asset management businesses of Wells Fargo & Company. Wells Fargo Funds Management, LLC, a wholly owned subsidiary of Wells Fargo & Company, provides investment advisory and administrative services for Wells Fargo Funds. Other affiliates of Wells Fargo & Company provide subadvisory and other services for the funds. The funds are distributed by Wells Fargo Funds Distributor, LLC, Member FINRA, an affiliate of Wells Fargo & Company.

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. The reader must make his/her own assessment of the information contained herein and consider such other factors as he/she may deem relevant to his/her individual circumstances.

238822 12-15


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Wells Fargo est une société d’exploration minière basée aux Etats-Unis D'Amerique.

Wells Fargo est cotée aux Etats-Unis D'Amerique. Sa capitalisation boursière aujourd'hui est 237,8 milliards US$ (208,3 milliards €).

La valeur de son action a atteint son plus bas niveau récent le 03 juillet 1997 à 10,01 US$, et son plus haut niveau récent le 03 février 2023 à 47,58 US$.

Wells Fargo possède 4 997 319 680 actions en circulation.

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US$ 47,58
03/02 16:03 0,350
Cours préc. Ouverture
47,23 47,00
Bas haut
46,95 48,04
Année b/h Var. YTD
41,79 -  47,58 13,85%
52 sem. b/h var. 52 sem.
37,43 -  59,06 -15,53%
Volume var. 1 mois
16 993 325 11,17%
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