Fund Description: Wells Fargo Utilities and High Income Fund, formerly Wells Fargo Advantage Utilities & High Income Fund, formerly Evergreen Utilities and High Income Fund, is an exchange-traded closed-end fund or a closed-end ETF that is officially described as a non-diversified, closed-end management investment company. INVESTMENT OBJECTIVE: The Wells Fargo Utilities and High Income Fund seeks a high level of current income and moderate capital growth, with an emphasis on providing tax advantaged dividend income. FUND STRATEGY: The Fund invests at least 80% of net assets in common, preferred and convertible preferred stocks and investment grade bonds or convertible debentures of utility and telecommunications companies. It may invest up to 35% of total assets in convertible debentures of utility and telecommunications companies; up to 20% of this portion may be invested in convertible debentures rated below investment grade. The Fund may also invest up to 30% of total assets in equity securities of foreign issuers, including ADRs and similar investments. FUND MANAGEMENT: Wells Fargo Funds Management LLC is the investment adviser of the Fund. Wells Capital Management Incorporated is the sub advisor.