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Discovery Fund (WFDRX) 

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All data as of 11-30-17 unless otherwise noted.

NAV as of 12-15-17 Daily change Daily change
$35.01 $0.44 1.27%

Morningstar RatingTM
Overall Rating This is a 4 star fund.

Based on risk-adjusted return through 11-30-17
Mid-Cap Growth category (560 funds)

See Morningstar Details

6   Morningstar® Style Box

The Overall Morningstar Rating for a fund is derived from a weighted-average of the performance figures associated with its three-, five- and ten-year (if applicable) ratings.

Ticker WFDRX
CUSIP 94987W547
Fund number 4659
YTD return as of 12-15-17 28.81%
Inception date 6-28-13
Net fund assets as of 12-15-17 2587396919

Fund highlights

    • Conducts a rigorous research process designed to "surround the company" and develop unique fundamental insights.
    • Performs a thorough analysis of a company's current balance sheet to gain insight into its potential to execute its business model and achieve future growth objectives.
    • Surrounds companies by analyzing competitors, suppliers, and customers up and down the market-capitalization spectrum.
    • Maintains valuation targets as part of a strong sell discipline and risk management process.
    • Constructs portfolios with a unique process that includes core holdings, developing situations, and valuation opportunities.
    • "Surround the company" research approach: The team's in-depth fundamental research yields an informational advantage, providing multiple perspectives on each individual investment opportunity. This results in a unique level of insight and a clear, 360-degree view of a company's business model and its prospects for strong, sustainable growth.
    • Three-pronged portfolio construction process: In building portfolios, the team seeks to diversify holdings among three distinct categories of growth opportunities in order to balance risk and return. Over the long term, this disciplined, three-pronged approach has consistently produced strong risk-adjusted returns and attractive up/down market capture characteristics.

    Management

    Michael Smith, CFA
    20 years of investment experience

    Chris Warner, CFA
    15 years of investment experience

    Total returns (%)

        3 month Year to date 1 year 3 year 5 year 10 year Since inception
    Discovery Fund NAV 8.45 27.99 27.62 10.83 14.93 9.60 11.83
    NAV
    as of 9-30-17
    5.50 22.04 23.98 11.06 13.44 8.78 11.72
    Russell 2500? Growth Total Return 10.50 24.12 25.23 11.24 15.85 9.58 0.00
    Lipper Mid-Cap Growth Funds 8.17 24.26 24.33 9.33 14.11 7.68

    Three-month and year-to-date returns are not annualized.

    Figures quoted represent past performance, which is no guarantee of future results, and do not reflect taxes that a shareholder may pay on a fund. Investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted and assumes the reinvestment of dividends and capital gains.

    Net asset value (NAV) is the value of one share of the fund excluding any sales charges.

    R6 Class shares are sold without a front-end sales charge or contingent deferred sales charge.

    Please keep in mind that high double-digit returns were primarily achieved during favorable market conditions. You should not expect that such favorable returns can be consistently achieved. A fund's performance, especially for short time periods, should not be the sole factor in making your investment decision.

    Does not include sales charges and assumes reinvestment of dividends and capital gains. If sales charges were included, returns would be lower.

    Stock values fluctuate in response to the activities of individual companies and general market and economic conditions. Smaller-company stocks tend to be more volatile and less liquid than those of larger companies. Certain investment strategies tend to increase the total risk of an investment (relative to the broader market). This fund is exposed to foreign investment risk. Consult the fund's prospectus for additional information on these and other risks.

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