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Wells Fargo's Diversified Income Builder tweaks investment allocations
By Toni Weeks
San Diego, Nov. 17 - Wells Fargo Advantage Funds said in a 497 filing with the Securities and Exchange Commission that effective Feb. 1 it will make changes to the principal investment strategy for its Diversified Income Builder Fund.
The fund will now invest up to 30% of the fund's total assets in equity securities, including common and preferred stocks. The previous allotment was up to 25%.
In addition, the target allocation ranges for the fund's investments are 70% to 90% in debt securities and 10% to 30% in equity securities. Previously, the fund allocated 75% to 90% in debt securities and 10% to 25% in equity securities.
The fund's investment adviser is San Francisco-based Wells Fargo Funds Management, LLC, a subsidiary of Wells Fargo & Co.
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