Wells Fargo Advantage Funds
president Karla Rabusch
to Dow Jones
' Sam Mamudi about the merger between Wells and Evergreen Investments
, expressing confidence that the combination
will be a smooth one, partly because of the similar structures of the two. Both firms operate as umbrellas for individual fund management teams.
"Throughout all of our acquisitions, we've allowed the portfolio management teams to remain independent," Rabusch told Mamudi.
Once it finishes integrating Evergreen Investments, Wells Fargo will have close to 200 mutual funds and more than $250 billion of assets. At the close
of August, Wells had 111 funds and AUM of $$166 billion. Evergreen had 86 mutual funds and $75 billion of AUM at end-August.
Wells Fargo acquired the whole of Wachovia
, Evergreen's parent, last December.
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