Figures quoted represent past performance, which is no guarantee of future results.
Investment returns will fluctuate. The fund's yield figures more closely reflect the current earnings of the fund than the total return figures.
Current performance may be lower or higher than the performance data quoted and assumes the reinvestment of dividends and capital gains.
Click here for current month-end performance.
Money market funds are sold without a front-end sales charge or contingent deferred sales charge. Other fees and expenses apply to an investment in the Fund and are described in the Fund's current prospectus.
The adviser has committed to certain fee waivers and/or expense reimbursements. Without these reductions, the Fund's seven-day current yield would have been lower and rankings and ratings may have been lower. These reductions may be discontinued.
CALENDAR YEAR RETURNS
ADVISER | Wells Fargo Funds Management, LLC
SUB-ADVISERS | Wells Capital Management Incorporated ("Wells Capital Management"), Wells Capital Management Singapore
Jeff Weaver is head of the Money Market Funds and Short-Duration Fixed-Income teams at Wells Capital Management. Jeff joined the firm in 1994 as a portfolio manager working with institutional short-term fixed-income portfolios and mutual funds. He assumed the role of intermediate fixed-income portfolio manager in 1999, becoming head of the Short-Duration Fixed-Income team in 2002. In 2014, Jeff assumed his current role as head of both the Short-Duration Fixed-Income and Money Market Funds teams. He began his investment industry career in 1991 at Bankers Trust Company in New York as a short-term fixed-income trader and portfolio manager. He earned a bachelor’s degree in economics from the University of Colorado, Boulder. Jeff has earned the right to use the Chartered Financial Analyst®(CFA®) designation and is a member of CFA Institute and the Security Analysts of San Francisco.
Ms. White has been with Wells Fargo & Company and its predecessors in an investment management capacity since 1990. Ms. White joined Wells Capital Management in 1998 as a Managing Director and simultaneously was a Director for Reserve Asset Management at Norwest Investment Management (since 1997) until Wells Capital Management and Norwest Investment Management combined investment management services under the Wells Capital Management name in 1999. Ms. White currently co-manages certain of the Wells Fargo indexed mutual funds, private accounts, and collective trust funds. Ms. White earned her B.A. degree in Political Science from Carleton College and her M.B.A. degree from the University of Minnesota.
Michael C. Bird, CFA is a senior fund manager on the Money Market Funds team at Wells Capital Management. In this capacity, he manages money market funds that invest in U.S. Treasuries and other U.S. government securities. Michael began his investment industry career in 1993 and has experience managing both taxable and tax-exempt money market portfolios. After serving as an operations representative at Van Kampen Investments, he became an assistant portfolio manager on the company’s municipal mutual fund desk. In 1998, he started specializing in short-term investments when he became the portfolio manager and trader for Van Kampen's money market funds. Michael earned a bachelor's degree in finance from Bradley University in Peoria, Illinois. He has earned the right to use the Chartered Financial Analyst® (CFA®) designation and is a member of CFA Institute.
THE FUND | The Heritage Money Market Fund seeks current income, while preserving capital and liquidity.
Focuses primarily on preserving capital and maintaining a high level of liquidity by actively managing a portfolio of First Tier securities consisting of high-quality, short-term, U.S. dollar-denominated money market instruments of domestic and foreign issuers.
Offers potentially higher yields than a money market portfolio limited to Treasury-or government-related issues and mitigates risk by investing in a broadly diversified portfolio of securities across a range of eligible money market investments that may include, but are not limited to, bank obligations such as time deposits and certificates of deposit; commercial paper; asset-backed securities; corporate and medium-term notes; adjustable-rate securities; repurchase agreements; and government-related debt.
Uses a conservative investment approach that emphasizes fundamental credit research, portfolio analytics, and portfolio risk management.
Portfolio management team: A tenured and broad-based portfolio management team of 12 portfolio managers and traders, supported by 14 dedicated credit analysts, applies a well-defined investment process that has evolved over a period of more than 20 years–since the team's founding and the inception of the funds.
Integrated, forward-looking credit analysis process: The team obtains an understanding of the risks associated with every issue considered for investment by thoroughly examining each issue's financial stability, its legal and structural situation, and the general credit and economic environment at any point in time. The credit analysis process is a repeatable, collaborative effort in which each issue is assigned a credit score by a primary analyst and is subsequently reviewed by a secondary analyst and credit committee before being approved for investment.
Disciplined risk management: The team uses proprietary risk models, which include both quantitative and qualitative factors, to identify investment opportunities and manage key risks.
Portfolio construction and ongoing monitoring: The team's highest priority is the preservation of capital and liquidity. To meet these objectives, the team relies on its credit analysis process and risk management and continuously performs stress tests on each portfolio to evaluate how the funds may react to market disruptions.
RISKS | An investment in a money market fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in a money market fund.
TOP HOLDINGS – % of net assets as of 03-31-2016
Frbny Var, 0.25%, 2016-04-01
HSBC Time Deposit Usd, 0.00%,
Bank of America Na Repo Mbs Bacna 8, 0.31%, 2016-04-01
Svenska Handelsbanken Ci Time Deposit Svsci 2, 0.23%, 2016-04-01
Uob Time Deposit, 0.43%, 2016-04-01
Bank of Nova Scotia Nya/Repo, 0.32%, 2016-04-01
Dbs Time Deposit, 0.43%, 2016-04-01
Nbad Americas N.V., 0.31%, 2016-04-01
Goldman Sachs + CO Repo Mm Goldmn 2, 0.35%, 2016-04-01
Natl Bank of Kuwait NY Time Deposit Nbkkuw 4, 0.28%, 2016-04-01
Portfolio holdings are subject to change and may have changed since the date specified. Click here for more complete holdings.
The advisor has committed, through 05-31-16, to waive fees and/or reimburse expenses to the extent necessary to cap the fund's total annual fund operating expenses after fee waiver, excluding certain expenses, at 0.35%. After this time, the cap may be increased or terminated only with the approval of the Board of Trustees. Without this cap, the fund's returns would have been lower.