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Wells Fargo Ultra Shrt-Term Muni IncInst SMAIX

Analyst rating as of
NAV / 1-Day Return
9.62  /  0.00 %
Total Assets
2.2 Bil
Adj. Expense Ratio
0.250%
Expense Ratio
0.250%
Fee Level
Low
Longest Manager Tenure
3.62 years
Category
Muni National Short
Credit Quality / Interest Rate Sensitivity
Medium / Limited
Min. Initial Investment
1,000,000
Status
Open
TTM Yield
0.71%
Effective Duration
0.85 years
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Morningstar’s Analysis

Will SMAIX outperform in future?

Get our overall rating based on a fundamental assessment of the pillars below.

New Manager Added to Wells Fargo Ultra Short-Term Municipal Income as Wendy Casetta Steps Down

Senior Analyst

Analyst Note

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Effective Sept. 1, 2020, Wells Fargo appointed Nicholos Venditti as comanager of Wells Fargo Ultra Short-Term Municipal Income alongside Bruce Johns and James Randazzo. Venditti's appointment comes after the firm previously announced that long-tenured manager Wendy Casetta would be relinquishing her duties here effective Aug. 31, 2020, before she leaves the firm at the end of the year. Venditti joined Wells Fargo in July 2020 from Thornburg Investment Management, where he led Thornburg's municipal-bond group and managed several muni-bond strategies. Thornburg Limited-Term Municipal LTMIX, which was the largest strategy he ran, performed well over his tenure. From February 2015 through June 2020, the strategy's institutional share class placed in the top quartile compared with a distinct group of muni-national short Morningstar Category peers.

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