SAN FRANCISCO--(BUSINESS WIRE)--Wells Fargo Asset Management (WFAM) announced today that Harindra de Silva, Ph.D., CFA, and Dennis Bein, CFA, will be added as portfolio managers to the Wells Fargo Global Dividend Opportunity Fund (NYSE: EOD) effective immediately. They will join Megan Miller, CFA, in managing the fund’s options strategy. Michael Schueller, CFA, Justin Carr, CFA, Vince Fioramonti, CFA, and Chris Lee, CFA, remain as portfolio managers of the fund’s fixed-income and equity sleeves. There are no changes to the investment philosophy or process as a result of this change.
Portfolio Manager Bios
Harindra de Silva, Ph.D., CFA
Harindra (“Harin”) de Silva is a portfolio manager with the Analytic Investors team at Wells Fargo Asset Management (WFAM). Before joining the team, Harin was a principal at Analysis Group, Inc., where he was responsible for providing economic research services to institutional investors, including investment managers, large pension funds, and endowments. He focuses on the ongoing research effort for equity and factor-based asset allocation strategies. Harin has authored several articles and studies on finance-related topics, including stock market anomalies, market volatility, and asset valuation. He was recognized with the prestigious Graham and Dodd Award of Excellence for research published in the Financial Analysts Journal in 2002 and 2005. Harin earned a bachelor’s degree in mechanical engineering from the University of Manchester Institute of Science and Technology, a master’s degree in business administration with an emphasis in finance, a master’s degree in econometrics from the University of Rochester, and a Ph.D. in finance from the University of California, Irvine. He has earned the right to use the Chartered Financial Analyst® (CFA®) designation.
Dennis Bein, CFA
Dennis Bein is a portfolio manager for the Analytic Investors team at Wells Fargo Asset Management (WFAM). He focuses on day-to-day portfolio management and research related to equity-based investment strategies. Prior to joining the Analytic Investors team, Dennis was a senior consultant for Analysis Group, Inc., where he provided investment consulting services for institutional investors and plan sponsors. He began his investment industry career in 1990. Dennis earned a bachelor’s degree in business administration and a master’s degree in business administration with an emphasis in finance from the University of California, Riverside. He has earned the right to use the Chartered Financial Analyst® (CFA®) designation.
The Wells Fargo Global Dividend Opportunity Fund is a closed-end equity and high-yield bond fund. The fund’s investment objective is to seek a high level of current income. The fund’s secondary objective is long-term growth of capital.
For more information on Wells Fargo’s closed-end funds, please visit our website.
This closed-end fund is no longer engaged in initial public offerings, and shares are available only through broker-dealers on the secondary market. Unlike an open-end mutual fund, a closed-end fund offers a fixed number of shares for sale. After the initial public offering, shares are bought and sold through broker-dealers in the secondary marketplace, and the market price of the shares is determined by supply and demand, not by NAV, and is often lower than the NAV. A closed-end fund is not required to buy its shares back from investors upon request.
High-yield, lower-rated bonds may contain more risk due to the increased possibility of default. Foreign investments may contain more risk due to the inherent risks associated with changing political climates, foreign market instability, and foreign currency fluctuations. Risks of international investing are magnified in emerging or developing markets. Funds that concentrate their investments in a single industry or sector may face increased risk of price fluctuation over more diversified funds due to adverse developments within that industry or sector. Small- and mid-cap securities may be subject to special risks associated with narrower product lines and limited financial resources compared with their large-cap counterparts. When interest rates rise, the value of debt securities tends to fall. When interest rates decline, interest that a fund is able to earn on its investments in debt securities also may decline, but the value of those securities may increase. Changes in market conditions and government policies may lead to periods of heightened volatility in the debt securities market and reduced liquidity for certain fund investments. Interest rate changes and their impact on the funds and their NAVs can be sudden and unpredictable.
The use of leverage results in certain risks, including, among others, the likelihood of greater volatility of the NAV and the market price of common shares. Derivatives involve additional risks, including interest rate risk, credit risk, the risk of improper valuation, and the risk of noncorrelation to the relevant instruments they are designed to hedge or to closely track. There are numerous risks associated with transactions in options on securities. Illiquid securities may be subject to wide fluctuations in market value and may be difficult to sell.
Wells Fargo Asset Management (WFAM) is the trade name for certain investment advisory/management firms owned by Wells Fargo & Company. These firms include but are not limited to Wells Capital Management Incorporated and Wells Fargo Funds Management, LLC. Certain products managed by WFAM entities are distributed by Wells Fargo Funds Distributor, LLC (a broker-dealer and Member FINRA).
This material is for general informational and educational purposes only and is NOT intended to provide investment advice or a recommendation of any kind—including a recommendation for any specific investment, strategy, or plan.
Some of the information contained herein may include forward-looking statements about the expected investment activities of the funds. These statements provide no assurance as to the funds’ actual investment activities or results. Readers must make their own assessment of the information contained herein and consider such other factors as they may deem relevant to their individual circumstances.
INVESTMENT PRODUCTS: NOT FDIC INSURED ● NO BANK GUARANTEE ● MAY LOSE VALUE