New York — Andrew Owen, an EVP of Wells Fargo Funds Management, says the $15 billion deal, which was announced October 3 and is set to close in December, would have little impact on the Wells Fargo Advantage Social Sustainability Fund, despite Wachovia’s hefty lineup of proprietary mutual funds. Wells is fully committed to the new fund, he says.
Sean Cunniff, a research director for TowerGroup, an independent research firm owned by MasterCard Inc., says: “Wells is the acquiring firm in this deal, and they will make the decisions about how to merge the fund families. Wells Fargo believes in the product, or it would not have gone through with the launch.”
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