Wells Fargo International Government Bond Fund

C000194969 Fund Overview

Wells Fargo International Government Bond Fund is a US mutual fund managed by Allspring Funds Trust, categorised as Treasury / Sovereign Bond. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

• Type: US mutual fund
• Manager: Allspring Funds Trust
• Category: Treasury / Sovereign Bond
• Assets under management: $1.02M
• SEC CIK: 0001081400
• SEC series ID: S000059525
• Share class ID: C000194969

C000194969 Investment Objective and Strategy

Wells Fargo International Government Bond Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Allspring Funds Trust.

Investment objective

"The Fund seeks to replicate the total return of the Wells Fargo International Government Bond Index (the ""Index""), before fees and expenses."

Principal investment strategy

"The Fund is a feeder fund that invests substantially all of its assets in the Wells Fargo International Government Portfolio (the ""Master Portfolio""), a master portfolio with an identical investment objective that invests, under normal circumstances, at least 80% of its net assets in a portfolio of non-U.S. government fixed income securities designed to replicate the performance of the Index. The Master Portfolio generally invests its assets in a collection of fixed income securities that, in the aggregate, approximates the Index in terms of key risk factors and other characteristics. This rules-based proprietary Index measures the performance of non-U.S. developed market government bonds that have a remaining maturity of at least one year, regardless of optionality. The Index is constructed to provide increased diversification and liquidity versus traditional developed market sovereign bond indexes.

Specifically, the Index selects and weights securities by evaluating securities in the reference index on a country, currency and individual basis. The evaluation is intended to create a subset of the reference index by screening securities based on current and consensus expected trends in market conditions, valuations and currency trends to arrive at projections for yield curves (and hence bond returns) and currency returns. The screening process combined with return, volatility, correlation and constraint analysis determines the final Index constituency. Securities in the Index may be issued by issuers located in developed markets in the Americas, Europe, the Middle East and Africa, or the Asia-Pacific region. The Index rebalances and reconstitutes quarterly. As of its most recent rebalancing, there were approximately 120 constituents included in the Index.

As of the same date, the securities in the Index had an effective duration of 6.30 years and a weighted average maturity of 8.85 years. The Master Portfolio may invest up to 20% of its assets in instruments that are not fixed income securities, but which the Master Portfolio's portfolio managers believe are highly correlated to the Index (such as futures and other derivatives) for the purpose of managing ongoing cash flows. Furthermore, in order to produce exposures that align with the Index, the Master Portfolio's portfolio managers may purchase foreign currency on a spot or forward basis to gain or hedge currency exposure and control risk. Rather than purchase every security included in the Index, the Master Portfolio uses an optimization process which seeks to balance the replication of index performance with the minimization of security transaction costs.

Using a stratified sampling technique, securities are selected and purchased in order to construct a portfolio that exhibits characteristics and performance of the Index, without incurring the transaction costs associated with purchasing every security in the Index. A precise duplication of the Index would mean that the net asset value (""NAV"") of Master Portfolio units, including income and capital gains, would increase or decrease in exact proportion to changes in the Index. Such an exact replication is not feasible. The Master Portfolio's ability to track the performance of the Index may be affected by, among other things, its sampling technique, transaction costs and shareholder purchases and redemptions. The Master Portfolio's portfolio managers continually monitor the performance and composition of the Index, and adjust the Master Portfolio's holdings as necessary to reflect any changes to the Index.

Under normal circumstances, the Master Portfolio is expected to concentrate its investments in an industry to approximately the same extent that the Index is concentrated in such industry. The components of the Index may change over time and the Index may or may not be concentrated in an industry at any particular time. The Master Portfolio is considered to be non-diversified."

C000194969 Costs and Fees

C000194969 costs about $0 per $10,000 invested per year in fund expenses.

• Net expense ratio: 0.00%
• Gross expense ratio: 7.73%
• Portfolio turnover: 291%
• Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)

C000194969 Cashflows

Over the 12 months to 2020-05, Wells Fargo International Government Bond Fund had net inflows of $0, from monthly SEC N-PORT filings.

C000194969 Debt Constituents

No individual debt constituents are reported in Wells Fargo International Government Bond Fund's latest SEC N-PORT filing.

C000194969 Prospectus and SEC Filings

Official Wells Fargo International Government Bond Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

• Prospectus (485BPOS) — filed 2020-07-15
• Prospectus (485BPOS) — filed 2019-07-09
• Prospectus (485BPOS) — filed 2018-07-03
• Portfolio holdings (N-PORT) — filed 2020-07-30
• Portfolio holdings (N-PORT) — filed 2020-04-29
• Portfolio holdings (N-PORT) — filed 2020-01-28
• Annual census (N-CEN) — filed 2020-05-13
• Annual census (N-CEN) — filed 2019-05-14

Related Funds

Other Treasury / Sovereign Bond funds tracked on ABC INVEST:

• Goldman Sachs Government Income Fund (GSOIX)
• Defiance Treasury Enhanced Options Income ETF (TLTY)
• Virtus Stone Harbor EMD Sovereign MACS (VMAMX)
• Yorktown Treasury Advanced Total Return Fund (AATRX)

Data Sources

ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.