Anthony Norris, a portfolio manager of the Wells Fargo Multi-Sector Income Fund, will retire from Wells Fargo Asset Management (International) and the institutional investment industry on October 3, 2018. He will continue to serve as a portfolio manager of the fund through October 3, 2018.

Alex Perrin; Niklas Nordenfelt, CFA; Peter Wilson; Christopher Kauffman, CFA; Michael Lee; Philip Susser; Christopher Wightman and Noah Wise, CFA, will continue their roles as portfolio managers of the fund. There will be no change to the investment philosophy or process as a result of this transition.

The Wells Fargo Multi-Sector Income Fund is a closed-end income fund. The fund’s investment objective is to seek a high level of current income consistent with limiting its overall exposure to domestic interest rate risk.

This closed-end fund is no longer offered as an initial public offering and is only offered through broker/dealers on the secondary market. A closed-end fund is not required to buy its shares back from investors upon request. Investment return and principal value of an investment will fluctuate so that investors’ shares, when sold, may be worth more or less than their original costs.