SAN FRANCISCO -- (BUSINESS WIRE) --

Wells Fargo & Company (NYSE: WFC) announced today that Wells Capital Management has been selected by Nomura Asset Management to manage the new Emerging Markets Consumer Stock Fund. The fund was launched in Japan on July 24 and total assets exceed $1 billion, with strong subscriptions adding to the initial launch size of $740 million. The fund is distributed in Japan by Nomura Securities.

Wells Capital Management-an investment affiliate in Wells Fargo's Asset Management Group-is subadvising the fund, with the Emerging Markets team at the helm. The Emerging Markets team is headed by Senior Portfolio Manager Anthony Cragg and includes eight other team members. The team manages $1.8 billion in assets across a variety of emerging-markets strategies.

The fund seeks to invest in stocks that benefit from increased domestic demand rather than relying on companies driven by strong exports, which has been the more traditional approach to emerging-markets investing. The fund focuses on the increased purchasing power of global emerging-market consumers, whose heightened standards of living may result in higher consumption.

"Nomura rolled out the fund just at the time that Japanese investors are again getting focused on the growth prospects in emerging markets, and we're pleased that they selected Wells Fargo after many months of intensive due diligence," said Michael Niedermeyer, head of Wells Fargo's Asset Management Group. "This new investment strategy leverages the time-tested investment process that the team has followed for 17 years."

Wells Fargo's Asset Management Group manages $463 billion in assets for institutional and retail clients. It includes Wells Fargo Funds Management, LLC, Wells Capital Management, and other affiliated asset managers, such as Galliard Asset Management and European Credit Management.

Wells Capital Management is a registered investment advisor and a wholly owned subsidiary of Wells Fargo Bank, N.A. Wells Capital Management provides equity and fixed-income investment management services to a variety of institutions around the world, including pension plans, endowments, foundations, municipalities, unions, and financial institutions. For more information on Wells Capital Management and its advisory services, please visit www.wellscap.com or refer to Form ADV Part II, which is available upon request by calling 415-396-8000.

Wells Fargo & Company is a diversified financial services company with $1.3 trillion in assets, providing banking, insurance, investments, mortgage and consumer finance through more than 10,000 stores and 12,000 ATMs and the internet (wellsfargo.com) across North America and internationally.

CONTACT:

Wells Fargo & Company
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Debbi Tippett, 213-253-3150