Wells Fargo Multi-Sec Inc:ERC

    Manage Alerts

    Overview

    As of 9/22/2021

     Share
    Price
    NAVPremium/
    Discount
    Current$13.78$12.807.66%
    52 Wk Avg$12.38$12.80-3.36%
    52 Wk High$13.84$13.177.66%
    52 Wk Low$10.69$12.07-11.45%
    Regular Distribution TypeIncome Only
    Distribution Rate8.32%
    Distribution Amount$0.0955
    Distribution FrequencyMonthly
    Past performance is no guarantee of future results.

    Basic Information

    Investment Objective

    Under normal market conditions, the Fund invests approximately 50% of its total assets in below investment grade (high yield) U.S. debt securities, loans and preferred stocks. It invests approximately 25% of its total assets in foreign debt securities including obligations of foreign governments or governmental entities, foreign corporations or supranational agencies denominated in various currencies. Approximately 25% of its total assets is invested in securities that have interest rates that re-set at periodic intervals including mortgage-backed securities, asset-backed securities and collateralized mortgage obligations issued or guaranteed by the U.S. government. Effective 14-May-07 a new investment policy that will allow a more flexible approach to the sectors allocation will be adopted. The new policy will not fix the sectors percentages and will allow an allocation range between 20-60% for each sector.

    Capital Structure

    As of 9/22/2021

    Total Investment Exposure:$498.265M
    Total Common Assets:$359.265M
    Common Shares Outstanding:28,067,599
    Leverage

    As of 9/22/2021

    Preferred Share Assets:
    Total Debt (USD): $139.000M
    Regulatory Leverage (USD): $139.000M
    Effective Leverage (USD): $139.000M
    Effective Leverage (%): 27.90%
    Annual Expense Ratios

    As of 10/31/2020

      Per Common Share
    Management Fees0.78%
    Other Expenses:0.17%
    Baseline Expense: N/A
    Interest Expense:0.80%
    Total: 1.75%
    Fund Management

    Fund Sponsor
    Wells Fargo

    Portfolio Managers
    Michael Lee, Alex Perrin, Christopher Y. Kauffman, Niklas Nordenfelt, Noah M. Wise, Lauren van Biljon, Peter Malcom Wilson, Philip Susser

    Basics
    Category: Fixed Income - Taxable-Limited Duration
    Ticker: ERC
    NAV Ticker: XERCX
    Average Daily Volume (shares): 89,623
    Average Daily Volume (USD): $1.116M
    Inception Date: 6/25/2003
    Inception Share Price: $20.00
    Inception NAV: $19.06
    Tender Offer: No
    Term: No
    Fiscal Year End: October 31
    Third Party Links & Reports

    Distributions

    As of 9/22/2021

    Past performance is no guarantee of future results.
    Distribution History

    Enter declared start and end dates to display distribution history below. Income, Long Gain, Short Gain and ROC breakdowns will only be shown for the past year.

    Declared Date Payable Date Ex Date Distrib Amount Income Long Gain Short Gain ROC

    *Indicates a Special Distribution: A distribution disbursed in addition to the normal distributions paid out by the company.

    Key Information Regarding Distributions
    Avg. Earnings Per Share:
    As of 4/30/2021
    $0.3971
    Annualized Distribution Rate on NAV:
    As of 9/22/2021
    8.96%
    Total Return on NAV (12 months):
    As of 9/22/2021
    12.78%
    Avg. Portfolio Coupon:
    As of 9/22/2021
    5.25%
    Total % Portfolio Effectively Leveraged:
    As of 9/22/2021
    27.90%

    Pricing Information

    Premium/Discount Information
    Past performance is no guarantee of future results.
    Premium/Discount Information

    As of 9/23/2021

    PeriodAvg Discount
    6 Month0.25%
    1 Year-3.36%
    3 Year-6.28%
    5 Year-7.06%
    Z-Score

    As of 9/22/2021

    PeriodZStat
    3 Month2.36
    6 Month3.03
    1 Year2.50
    Pricing History
    Date NAV Premium / Discount

    Performance

    Calendar Year Total Returns

    As of 8/31/2021
    Category: Morningstar US CEF Limited Duration

    Past 20 Years

    Return YearPriceNAVCategory - PriceCategory - NAV
    YTD14.39%3.77%13.31%4.78%
    20203.42%6.61%4.56%4.70%
    201928.04%15.34%22.78%12.22%
    2018-5.69%-2.22%-7.45%-1.27%
    201711.98%10.17%12.86%9.16%
    201624.38%16.23%19.16%12.54%
    2015-8.92%-7.97%-3.04%-2.38%
    20145.35%3.45%0.88%3.52%
    2013-5.85%0.73%-1.23%5.24%
    201218.16%16.52%19.07%16.27%
    20114.67%4.84%5.85%4.21%
    201017.79%12.97%22.82%18.02%
    200954.92%39.59%55.22%46.93%
    2008-20.31%-20.02%  
    2007-0.62%4.68%  
    200617.79%7.82%  
    2005-6.18%-2.50%  
    20047.94%13.00%  
    Past performance is no guarantee of future results.
    Annualized Total Returns

    Returns for periods less than one year are cumulative rather than annualized

    As of 8/31/2021
    Category: Morningstar US CEF Limited Duration

    Past performance is no guarantee of future results.

    Portfolio Characteristics

    Portfolio Characteristics
    AMT:
    As of 7/31/2021
    0.00%
    Average Coupon:
    As of 9/22/2021
    5.25%
    Average Maturity:
    As of 7/31/2021
    4.51 yrs
    Number of Holdings:
    As of 7/31/2021
    531
    Annual Portfolio Turnover:
    As of 10/31/2020
    36.00%
    Average Bond Price:
    As of 7/31/2021
    $94.85
    Asset Allocation

    As of 7/31/2021 reported by Fund Sponsor

    Top Sectors

    As of 7/31/2021 reported by Fund Sponsor

    Sector%Portfolio
    Corporate (Super Sector)68.54%
    Corporate Bond52.33%
    Government (Super Sector)21.53%
    Government17.76%
    Bank Loan15.67%
    Securitized (Super Sector)5.98%
    Government Related3.77%
    Government Commercial Mortgage Backed3.22%
    Cash Equivalents (Super Sector)2.80%
    Cash Equivalents2.80%
    Top Holdings

    As of 7/31/2021 reported by Fund Sponsor

    HoldingValue% Portfolio
    Mexico (United Mexican States) 8.5%$11.53M2.29%
    India (Rep Of) 7.32%$10.13M2.01%
    Indonesia (Republic of) 7%$8.35M1.66%
    Colombia (Republic of) 7.5%$6.23M1.24%
    Romania (Republic Of) 3.25%$5.75M1.14%
    Russian Federation 6.9%$5.53M1.10%
    Romania (Republic Of) 5%$5.31M1.05%
    Russian Federation 6.5%$5.31M1.05%
    Russian Federation 7.65%$4.71M0.94%
    Mexico (United Mexican States) 7.75%$4.53M0.90%
    Credit Quality

    As of 7/31/2021 reported by Fund Sponsor

    Maturity Breakdown

    As of 7/31/2021 reported by Fund Sponsor

    Country Allocation

    As of 7/31/2021 reported by Fund Sponsor

    Country% Portfolio
    United States - Fixed Income52.58%
    Others - Fixed Income5.69%
    Mexico - Fixed Income3.19%
    Indonesia - Fixed Income3.17%
    Russia - Fixed Income3.09%
    Canada - Fixed Income2.80%
    India - Fixed Income2.18%
    Colombia - Fixed Income2.02%
    United States - Equity1.14%
    China - Fixed Income0.91%
    Germany - Fixed Income0.90%
    Malaysia - Fixed Income0.85%
    Switzerland - Fixed Income0.42%
    Ireland - Fixed Income0.41%
    Israel - Fixed Income0.38%
    United Kingdom - Fixed Income0.20%
    Netherlands - Fixed Income0.17%
    Chile - Fixed Income0.13%
    France - Fixed Income0.11%

    Closed-end fund historical distribution sources have included net investment income, realized gains, and return of capital. For more detailed information on the distributions of a specific fund, please visit the sponsor's website.

    NOTES:

    Distribution type sourced from Morningstar. For specific information about a fund's distribution sources, visit the fund sponsor's website.

    The following information applies to closed-end funds in general: Fund shares are not guaranteed or endorsed by any bank or other insured depository institution, and are not federally insured by the Federal Deposit Insurance Corporation. Shares of closed-end funds are subject to investment risks, including the possible loss of principal invested. There can be no assurance that fund objectives will be achieved. Closed-end funds frequently trade at a discount to their net asset value. NAV returns are net of fund expenses, and assume reinvestment of distributions.

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