Wells Fargo Advantage Multi-Sector Income Fund (ERC)

ERC Managers did a great job with the repurchase this year, lets hope for the same next year!

The funds’ Board of Trustees has authorized the repurchase of an aggregate of up to 10% of each fund’s outstanding shares in open-market transactions during the period beginning January 1, 2021, and ending December 31, 2021. The Board has again 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 Board will continue to receive periodic reports on repurchase activity as part of its ongoing oversight of the programs, which includes deciding whether to renew or discontinue the programs at the end of their terms.

The Board previously authorized the repurchase during the period from January 1, 2020, through December 31, 2020, of an aggregate of up to 10% of the outstanding shares of each fund. Through October 31, 2020, EOD repurchased 313,229 shares (or 0.71% of outstanding shares), EAD repurchased 86,116 shares (or 0.14% of outstanding shares), ERC repurchased 2,185,121 shares (or 7.15% of outstanding shares), and ERH repurchased 4,700 shares (or 0.05% of outstanding shares).