Wells Fargo Util & High Income (AMEX:ERH)
- Market Cap$113.094m
- AIC sector-
- Manager GroupWells Fargo
The Funds investment objective is to seek a high level of current income and moderate capital growth, with an emphasis on providing tax-advantaged dividend income. Under normal market conditions the fund will invest at least 80% of its net assets in securities of utilities companies and in US non-investment grade debt securities. The fund allocated its assets between two separate investment strategies. Under normal market conditions, the Fund will allocate approximately 70% of its total assets to an investment strategy that focuses on common, preferred and convertible preferred stocks and convertible debentures of utility companies, and approximately 30% of its total assets to an investment strategy that focuses on US dollar denominated non-investment grade bonds, debentures, and other income obligations. No more than 35% of the Funds total assets will be invested in non-investment grade debt securities. The Fund may invest up to 25% of its total assets in foreign securities.