Wells Fargo Absolute Return invests directly in GMO Benchmark-Free Allocation. A tried and tested management team that has invested through numerous boom and bust cycles leads the strategy, but missteps in recent years have dampened some conviction in their approach, resulting in a downgrade of the Process Pillar to Average from Above Average. This drives a Morningstar Analyst Rating downgrade to Neutral from Bronze for the strategy's three cheapest share classes; the three most expensive remain Neutral as well.
Wells Fargo Absolute Return A WARAX
NAV / 1-Day Return
10.82
/
0.46
%
Total Assets
1.6 Bil
Adj. Expense Ratio
Adjusted Expense Ratio excludes certain variable investment-related expenses, such as interest from borrowings and dividends on borrowed securities, allowing for more consistent cost comparisons across funds.
1.590%
Expense Ratio
1.590%
Fee Level
High
Longest Manager Tenure
9.64
years
Category
World Allocation
Investment Style
Large ValueCredit Quality / Interest Rate Sensitivity
—Status
Open
TTM Yield
3.24%
Turnover
5%
Premium
Morningstar’s Analysis
The Morningstar Analysis section contains a thorough evaluation of an investment’s merits and drawbacks and often discusses the most important or decisive factors leading to the fund’s overall rating.
The Morningstar Analysis section contains a thorough evaluation of an investment’s merits and drawbacks and often discusses the most important or decisive factors leading to the fund’s overall rating.
Will WARAX outperform in future?
Get our overall rating based on a fundamental assessment of the pillars below.
Process Pillar
The Process Pillar is our assessment of how sensible, clearly defined, and repeatable WARAX’s performance objective and investment process is for both security selection and portfolio construction.
People Pillar
The People Pillar is our evaluation of the WARAX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.
Parent Pillar
The Parent Pillar is our rating of WARAX’s parent organization’s priorities and whether they’re in line with investors’ interests.
Unwavering commitment to a sensible process.
