Wells Fargo Funds Trust - 100% Treasury Money Market Fund
WOTXX
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- Wells Fargo Funds Trust - 100% Treasury Money Market Fund (WOTXX) is an institutional money market fund that seeks current income exempt from most state and local personal income taxes while preserving capital and maintaining liquidity. The fund invests exclusively in high-quality, short-term U.S. dollar-denominated U.S. Treasury obligations, including U.S. Treasury bills and notes, with top holdings consisting primarily of zero-coupon U.S. Treasury bills representing over 40% of the portfolio; it maintains a portfolio allocation of approximately 28% U.S. bonds and 72% cash equivalents. Managed by a team at Allspring Global Investments since December 1990, with inception on October 31, 2014, the fund features a 0.20% expense ratio, monthly dividends at a trailing 12-month yield of around 4.18%-4.93%, a minimum investment of $10 million, and assets under management exceeding $10-18 billion. The fund operates within the taxable money market category, benchmarked against the U.S. Treasury Bill Auction Average 3-Month index, targeting institutional investors seeking stable, low-risk cash management. It is available through platforms like WellsTrade and remains open to new investors, with no front-end or deferred sales loads. Headquartered through its sponsor Allspring Global Investments in the United States, the fund focuses on U.S. geographic exposure via Treasury securities and distributes income monthly. In a major strategic shift, Wells Fargo Asset Management, the original sponsor, sold its business to GTCR LLC and Reverence Capital Partners in November 2021, leading to the rebranding as Allspring Global Investments and the fund's renaming to Allspring 100% Treasury Money Market Fund - Institutional Class. Recent performance reflects elevated yields amid higher interest rates, with 1-year returns of 4.26%-4.41%, 3-year annualized at 4.64%-4.72%, and calendar-year 2024 total return of 5.13%; net assets showed fluctuations, ending a recent semi-annual period at approximately $17.7 billion following capital share transactions. No significant acquisitions, partnerships, or new product launches have been reported in the last 1-2 years.