[2] S&P Assigns 'AAAm' Ratings to Five Wells Fargo Funds.NEW YORK--(BUSINESS WIRE)--Nov. 8, 1999-- Standard & Poor's today assigned its highest money market rating of triple-'Am' to the Wells Fargo Wells Fargo armored carriers of bullion. [Am. Hist.: Brewer Dictionary, 1147] See : Protectiveness Wells Fargo company that handled express service to western states; often robbed. [Am. Hist. Funds Trust - 100% Treasury Money Market Fund, Wells Fargo Funds Trust Treasury Plus Money Market Fund,Wells Fargo Funds Trust - Treasury Plus Institutional Money Market Fund , Wells Fargo Funds Trust - Government Money Market Fund, and Wells Fargo Funds Trust - Prime Investment Money Market Fund. The ratings are based on Standard & Poor's analysis of the funds' credit quality, investment policies, market price exposure, and conservative management. The ratings signify that safety of invested principal is excellent and that the funds possess a superior capacity to maintain a $1 per share net asset value at all times. This is achieved through conservative investment practices and strict internal controls. Standard & Poor's reviews the funds' portfolio holdings on a consistent basis. Wells Fargo Funds Trust is an open-end investment company open-end investment company: see mutual fund. organized as a Delaware business trust. The trust was created to augment the assets and operations of various mutual funds in the Stagecoach stagecoach, heavy, closed vehicle on wheels, usually drawn by horses, formerly used to transport passengers and goods overland. Throughout the Middle Ages and until about the end of the 18th cent. Family of Funds Family of Funds A group of mutual funds offered by one investment or fund company. Each mutual fund has different characteristics and can range depending on investment objective. Also referred to as a "Mutual Fund Family" or simply a "Fund Family". and the Norwest Advantage Family of Funds. In creating the Wells Fargo Funds Trust, Wells Fargo Bank and Norwest Investment Management Inc., the respective fund advisers, combined efforts through a merger in November of 1998. Assets for the trust total over $36 billion. The investment adviser to the funds is Wells Fargo Bank, a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Wells Fargo & Co. (single-'A'-plus/'A-1'). The day-to-day management of the funds will be handled by their subadviser, Wells Capital Management Inc. (WCM WCM Web Content Management WCM World Class Manufacturing WCM Warning Coordination Meteorologist WCM Wireless Connection Manager WCM Wavelength Channel Module WCM Württembergische Cattunmanufaktur (German cotton manufacturer) ), also a wholly owned subsidiary of Wells Fargo Bank. As of June 30, 1999, the adviser Wells Fargo Bank and its affiliates managed over $133 billion in assets, and the subadviser Wells Capital Management Inc. managed over $70 billion. The custodian for the funds is Norwest Bank Minnesota, N.A., the administrator is Wells Fargo Bank, the transfer agent is Boston Financial Data Services Inc. (BFDS BFDS Boston Financial Data Services ), and the distributor is Stephens Inc. These five funds are designed for investors who desire professional management of their liquid assets Cash, or property immediately convertible to cash, such as Securities, notes, life insurance policies with cash surrender values, U.S. savings bonds, or an account receivable. in a diversified money market portfolio. The investment objective of the 100% Treasury Money Market Fund is to seek stability of principal and current income that is exempt from most state and local personal income taxes. The fund seeks to achieve this by investing in an array of 100% U.S. Treasury U.S. Treasury Created in 1798, the United States Department of the Treasury is the government (Cabinet) department responsible for issuing all Treasury bonds, notes and bills. Some of the government branches operating under the U.S. Treasury umbrella include the IRS, U.S. obligations. Treasury Plus Money Market Fund's investment objective is to seek current income and stability of principal. The fund seeks to achieve this by investing in obligations issued or guaranteed by the U.S. Treasury plus investments in repurchase agreements and other instruments collateralized or secured by U.S. Treasury obligations. The Treasury Plus Institutional Money Market Fund seeks current income and stability of principal. The fund pursues its objective by investing in obligations issued or guaranteed by the U.S. Treasury along with investments in repurchase agreements and other instruments collateralized or secured by U.S. Treasury obligations. The investment objective of the Government Money Market Fund is to seek high current income while preserving capital and liquidity. The fund seeks to achieve this by actively managing a portfolio composed principally of U.S. Government obligations, or repurchase agreements collateralized by such obligations. Prime Investment Money Market Fund's investment objective is to seek a high level of income while preserving capital and liquidity. The fund pursues its objective by investing in a broad spectrum of high quality money market instruments Money market instruments See: Cash investments , such as commercial paper, CDs, bank notes, time deposits, floating-rate notes, and repurchase agreements, Standard & Poor's said. --CreditWire |
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