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Wells Fargo Advantage Multi-Sector Income Fund

AMEX:ERC
Snowflake Description

Second-rate dividend payer with imperfect balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
ERC
AMEX
$384M
Market Cap
  1. Home
  2. US
  3. Diversified Financials
Company description

Wells Fargo Advantage Multi-Sector Income Fund is a closed-ended fixed income mutual fund launched and managed by Wells Fargo Funds Management, LLC. The last earnings update was 108 days ago. More info.


Add to Portfolio Compare Print
  • Wells Fargo Advantage Multi-Sector Income Fund is a fund or ETF! Currently our data availability for these is poor, we only recommend using them as part of a portfolio.
ERC Share Price and Events
7 Day Returns
0.2%
AMEX:ERC
0%
US Capital Markets
0.9%
US Market
1 Year Returns
-5.4%
AMEX:ERC
-5.7%
US Capital Markets
9.6%
US Market
ERC Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Wells Fargo Advantage Multi-Sector Income Fund (ERC) 0.2% 0.6% 4% -5.4% -2.8% -17.2%
US Capital Markets 0% 7.7% 4.6% -5.7% 53% 70.8%
US Market 0.9% 4.6% 10.9% 9.6% 39% 47.2%
1 Year Return vs Industry and Market
  • ERC underperformed the Market in United States of America which returned 9.6% over the past year.

Value

 Is Wells Fargo Advantage Multi-Sector Income Fund undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Wells Fargo Advantage Multi-Sector Income Fund to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Wells Fargo Advantage Multi-Sector Income Fund.

AMEX:ERC Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= $14.06 * 4.2%
$0.60
Book Value of Equity per Share Median Book Value from the past 5 years. $14.06
Discount Rate (Cost of Equity) See below 8.7%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for AMEX:ERC
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Capital Markets Unlevered Beta Simply Wall St/ S&P Global 0.73
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.728 (1 + (1- 21%) (48.66%))
1.005
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.01
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.005 * 5.96%)
8.72%

Discounted Cash Flow Calculation for AMEX:ERC using Excess Returns Model Model

The calculations below outline how an intrinsic value for Wells Fargo Advantage Multi-Sector Income Fund is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

AMEX:ERC Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (4.2% – 8.72%) * $14.06)
$-0.63
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $-0.63 / (8.72% - 2.73%)
$-10.49
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $14.06 + $-10.49
$3.56
AMEX:ERC Discount to Share Price
Calculation Result
Value per share (USD) From above. $3.56
Current discount Discount to share price of $12.22
= -1 x ($12.22 - $3.56) / $3.56
-242.9%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Wells Fargo Advantage Multi-Sector Income Fund is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Wells Fargo Advantage Multi-Sector Income Fund's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Wells Fargo Advantage Multi-Sector Income Fund's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
AMEX:ERC PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-10-31) in USD $-0.01
AMEX:ERC Share Price ** AMEX (2019-04-25) in USD $12.22
United States of America Capital Markets Industry PE Ratio Median Figure of 87 Publicly-Listed Capital Markets Companies 30.5x
United States of America Market PE Ratio Median Figure of 3,081 Publicly-Listed Companies 18.28x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Wells Fargo Advantage Multi-Sector Income Fund.

AMEX:ERC PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= AMEX:ERC Share Price ÷ EPS (both in USD)

= 12.22 ÷ -0.01

-1633.69x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Wells Fargo Advantage Multi-Sector Income Fund is loss making, we can't compare its value to the US Capital Markets industry average.
  • Wells Fargo Advantage Multi-Sector Income Fund is loss making, we can't compare the value of its earnings to the United States of America market.
Price based on expected Growth
Does Wells Fargo Advantage Multi-Sector Income Fund's expected growth come at a high price?
Raw Data
AMEX:ERC PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -1633.69x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
United States of America Capital Markets Industry PEG Ratio Median Figure of 35 Publicly-Listed Capital Markets Companies 2.45x
United States of America Market PEG Ratio Median Figure of 2,113 Publicly-Listed Companies 1.57x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Wells Fargo Advantage Multi-Sector Income Fund, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Wells Fargo Advantage Multi-Sector Income Fund's assets?
Raw Data
AMEX:ERC PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-10-31) in USD $13.10
AMEX:ERC Share Price * AMEX (2019-04-25) in USD $12.22
United States of America Capital Markets Industry PB Ratio Median Figure of 169 Publicly-Listed Capital Markets Companies 7.75x
United States of America Market PB Ratio Median Figure of 5,185 Publicly-Listed Companies 1.92x
AMEX:ERC PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= AMEX:ERC Share Price ÷ Book Value per Share (both in USD)

= 12.22 ÷ 13.10

0.93x

* Primary Listing of Wells Fargo Advantage Multi-Sector Income Fund.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Wells Fargo Advantage Multi-Sector Income Fund is good value based on assets compared to the US Capital Markets industry average.
X
Value checks
We assess Wells Fargo Advantage Multi-Sector Income Fund's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Capital Markets industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Capital Markets industry average (and greater than 0)? (1 check)
  5. Wells Fargo Advantage Multi-Sector Income Fund has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Wells Fargo Advantage Multi-Sector Income Fund expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Wells Fargo Advantage Multi-Sector Income Fund has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
6.7%
Expected Capital Markets industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Wells Fargo Advantage Multi-Sector Income Fund expected to grow at an attractive rate?
  • Unable to compare Wells Fargo Advantage Multi-Sector Income Fund's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Wells Fargo Advantage Multi-Sector Income Fund's earnings growth to the United States of America market average as no estimate data is available.
  • Unable to compare Wells Fargo Advantage Multi-Sector Income Fund's revenue growth to the United States of America market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
AMEX:ERC Future Growth Rates Data Sources
Data Point Source Value (per year)
United States of America Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 6.7%
United States of America Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 4.1%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.5%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
AMEX:ERC Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
AMEX:ERC Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-10-31 38 86 0
2018-07-31 39 123 12
2018-04-30 40 161 25
2018-01-31 43 164 34
2017-10-31 46 167 44
2017-07-31 49 130 58
2017-04-30 52 93 72
2017-01-31 53 81 65
2016-10-31 53 70 59
2016-07-31 54 64 18
2016-04-30 54 58 -22
2016-01-31 54 54 -29

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Wells Fargo Advantage Multi-Sector Income Fund is high growth as no earnings estimate data is available.
  • Unable to determine if Wells Fargo Advantage Multi-Sector Income Fund is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
AMEX:ERC Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Wells Fargo Advantage Multi-Sector Income Fund Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

AMEX:ERC Past Financials Data
Date (Data in USD Millions) EPS *
2018-10-31 -0.01
2018-07-31 0.39
2018-04-30 0.75
2018-01-31 1.04
2017-10-31 1.25
2017-07-31 1.65
2017-04-30 1.75
2017-01-31 1.59
2016-10-31 1.43
2016-07-31 0.45
2016-04-30 -0.52
2016-01-31 -0.70

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Wells Fargo Advantage Multi-Sector Income Fund will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Wells Fargo Advantage Multi-Sector Income Fund's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Wells Fargo Advantage Multi-Sector Income Fund has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Wells Fargo Advantage Multi-Sector Income Fund performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Wells Fargo Advantage Multi-Sector Income Fund's growth in the last year to its industry (Capital Markets).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Wells Fargo Advantage Multi-Sector Income Fund does not make a profit even though their year on year earnings growth rate was positive over the past 5 years.
  • Unable to compare Wells Fargo Advantage Multi-Sector Income Fund's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Wells Fargo Advantage Multi-Sector Income Fund's 1-year growth to the US Capital Markets industry average as it is not currently profitable.
Earnings and Revenue History
Wells Fargo Advantage Multi-Sector Income Fund's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Wells Fargo Advantage Multi-Sector Income Fund Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

AMEX:ERC Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-10-31 38.01 -0.24 4.89
2018-07-31 38.98 12.22 4.91
2018-04-30 39.94 24.68 4.93
2018-01-31 43.04 34.19 5.38
2017-10-31 46.14 43.71 5.84
2017-07-31 48.99 57.73 6.11
2017-04-30 51.83 71.75 6.39
2017-01-31 52.60 65.32 5.90
2016-10-31 53.36 58.89 5.41
2016-07-31 53.88 18.46 5.43
2016-04-30 54.40 -21.96 5.45
2016-01-31 54.38 -29.40 5.59
2015-10-31 54.36 -36.84 5.72
2015-07-31 54.66 -13.49 5.76
2015-04-30 54.97 9.86 5.79
2015-01-31 55.59 23.88 5.84
2014-10-31 56.21 37.90 5.89
2014-07-31 56.75 22.68 5.99
2014-04-30 57.30 7.46 6.10
2014-01-31 57.90 16.07 6.16
2013-10-31 58.51 24.67 6.21
2013-07-31 58.65 59.90 6.15
2013-04-30 58.80 95.12 6.09
2013-01-31 58.15 90.73 6.01
2012-10-31 57.50 86.34 5.94
2012-07-31 55.99 60.02 5.82
2012-04-30 54.47 33.70 5.70

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Wells Fargo Advantage Multi-Sector Income Fund has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • Wells Fargo Advantage Multi-Sector Income Fund used its assets less efficiently than the US Capital Markets industry average last year based on Return on Assets.
  • It is difficult to establish if Wells Fargo Advantage Multi-Sector Income Fund improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Wells Fargo Advantage Multi-Sector Income Fund's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Capital Markets industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Wells Fargo Advantage Multi-Sector Income Fund has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Wells Fargo Advantage Multi-Sector Income Fund's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Wells Fargo Advantage Multi-Sector Income Fund's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Wells Fargo Advantage Multi-Sector Income Fund's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Wells Fargo Advantage Multi-Sector Income Fund's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Wells Fargo Advantage Multi-Sector Income Fund's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is not covered by short term assets, assets are 0x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Wells Fargo Advantage Multi-Sector Income Fund Company Filings, last reported 5 months ago.

AMEX:ERC Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-10-31 413.32 187.00 0.06
2018-07-31 413.32 187.00 0.06
2018-04-30 458.30 187.00 1.43
2018-01-31 458.30 187.00 1.43
2017-10-31 499.82 187.00 0.74
2017-07-31 499.82 187.00 0.74
2017-04-30 593.07 187.00 1.00
2017-01-31 593.07 187.00 1.00
2016-10-31 590.84 220.00 2.03
2016-07-31 590.84 220.00 2.03
2016-04-30 580.74 220.17 0.65
2016-01-31 580.74 220.17 0.65
2015-10-31 591.23 230.14 0.98
2015-07-31 591.23 230.14 0.98
2015-04-30 651.90 229.97 1.15
2015-01-31 651.90 229.97 1.15
2014-10-31 677.00 230.36 1.34
2014-07-31 677.00 230.36 1.34
2014-04-30 691.82 230.19 2.64
2014-01-31 691.82 230.19 2.64
2013-10-31 689.57 230.20 2.51
2013-07-31 689.57 230.20 2.51
2013-04-30 734.82 230.37 0.21
2013-01-31 734.82 230.37 0.21
2012-10-31 715.37 230.20 0.03
2012-07-31 715.37 230.20 0.03
2012-04-30 690.17 230.71 0.00
  • Wells Fargo Advantage Multi-Sector Income Fund's level of debt (45.2%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (33.4% vs 45.2% today).
  • Debt is well covered by operating cash flow (45.8%, greater than 20% of total debt).
  • Wells Fargo Advantage Multi-Sector Income Fund is making a loss, therefore interest payments are not well covered by earnings.
X
Financial health checks
We assess Wells Fargo Advantage Multi-Sector Income Fund's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Wells Fargo Advantage Multi-Sector Income Fund has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Wells Fargo Advantage Multi-Sector Income Fund's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
10.3%
Current annual income from Wells Fargo Advantage Multi-Sector Income Fund dividends.
If you bought $2,000 of Wells Fargo Advantage Multi-Sector Income Fund shares you are expected to receive $206 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Wells Fargo Advantage Multi-Sector Income Fund's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.39%).
  • Wells Fargo Advantage Multi-Sector Income Fund's dividend is above the markets top 25% of dividend payers in United States of America (3.61%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
AMEX:ERC Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
United States of America Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 43 Stocks 2%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2008 Stocks 2.4%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

AMEX:ERC Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-03-29 1.259 10.273
2019-02-21 1.266 10.430
2019-01-25 1.272 10.575
2018-12-28 1.278 11.065
2018-11-09 1.282 11.330
2018-10-26 1.285 11.029
2018-09-28 1.291 10.815
2018-08-15 1.293 10.408
2018-07-27 1.292 10.215
2018-06-29 1.286 10.271
2018-05-23 1.231 9.713
2018-04-27 1.231 9.561
2018-03-29 1.231 9.422
2018-02-28 1.231 9.469
2018-01-26 1.295 9.942
2017-11-10 1.292 9.921
2017-09-29 1.291 9.764
2017-08-16 1.290 9.674
2017-07-28 1.287 9.594
2017-06-30 1.282 9.568
2017-05-17 1.276 9.495
2017-04-28 1.270 9.386
2017-03-31 1.261 9.409
2017-03-02 1.249 9.427
2017-01-27 1.239 9.379
2016-12-30 1.108 8.531
2016-11-16 1.108 8.830
2016-10-31 1.108 8.958
2016-09-30 1.108 8.609
2016-08-11 1.108 8.533
2016-08-01 1.108 8.593
2016-06-24 1.108 8.686
2016-05-25 1.108 8.878
2016-04-29 1.160 9.376
2016-03-24 1.160 9.531
2016-02-18 1.160 10.009
2016-01-29 1.160 10.610
2016-01-05 1.160 10.526
2015-11-19 1.160 10.259
2015-10-30 1.160 9.886
2015-09-25 1.160 9.864
2015-08-12 1.160 9.818
2015-07-31 1.160 9.367
2015-06-26 1.160 9.193
2015-05-20 1.160 8.884
2015-04-24 1.160 8.631
2015-03-27 1.160 8.604
2015-02-20 1.160 8.593
2015-01-30 1.160 8.528
2014-12-26 1.160 8.504
2014-11-07 1.160 8.450
2014-11-03 1.200 8.475
2014-09-26 1.200 8.573
2014-08-13 1.200 8.318
2014-07-25 1.200 8.233
2014-06-27 1.200 8.065
2014-05-16 1.200 8.091
2014-04-25 1.200 8.128
2014-03-28 1.200 8.246
2014-02-21 1.200 8.240
2014-01-31 1.200 8.393
2014-01-03 1.200 8.433
2013-11-21 1.200 8.577
2013-10-25 1.200 8.399
2013-09-27 1.200 8.457
2013-08-15 1.200 8.635
2013-07-26 1.200 8.371
2013-06-28 1.200 8.272
2013-05-22 1.200 7.842
2013-04-26 1.200 7.182
2013-03-28 1.200 7.283
2013-02-22 1.200 7.325
2013-01-25 1.200 7.398
2012-12-28 1.200 7.330
2012-11-07 1.200 7.499
2012-10-26 1.200 7.242
2012-09-28 1.200 7.271
2012-08-15 1.200 7.410
2012-07-27 1.200 7.499
2012-06-22 1.200 7.796
2012-05-16 1.200 8.037
2012-04-20 1.200 7.836
2012-03-16 1.200 7.943
2012-02-09 1.200 7.738
2012-01-20 1.200 7.849
2011-12-16 1.200 8.125
2011-11-18 1.200 8.285
2011-10-21 1.200 8.168
2011-09-16 1.200 8.296
2011-08-17 1.200 8.079
2011-07-22 1.200 8.027
2011-06-17 1.200 7.802
2011-05-18 1.200 7.852
2011-04-25 1.200 7.943
2011-03-18 1.200 7.998
2011-02-14 1.200 7.960
2011-01-21 1.300 8.553
2010-12-17 1.300 8.561
2010-11-19 1.300 8.382
2010-10-15 1.300 8.093
2010-09-17 1.300 8.097
2010-08-20 1.300 8.380
2010-07-16 1.300 8.485
2010-06-10 1.300 8.848
2010-05-21 1.300 9.142
2010-04-16 1.300 8.745
2010-03-11 1.300 8.676
2010-02-19 1.300 8.945
2010-01-15 1.300 9.104
2009-12-11 1.300 9.113
2009-11-20 1.300 9.062
2009-10-16 1.300 9.287
2009-09-24 1.300 9.172
2009-08-21 1.300 9.503
2009-07-20 1.300 9.877
2009-06-11 1.300 10.590
2009-05-15 1.300 10.871

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of Wells Fargo Advantage Multi-Sector Income Fund's earnings are paid to the shareholders as a dividend.
  • The company is paying a dividend however it is incurring a loss.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Wells Fargo Advantage Multi-Sector Income Fund's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Wells Fargo Advantage Multi-Sector Income Fund afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Wells Fargo Advantage Multi-Sector Income Fund has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Wells Fargo Advantage Multi-Sector Income Fund's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
  • Wells Fargo Advantage Multi-Sector Income Fund has no CEO, or we have no data on them.
Management Team Tenure

Average tenure and age of the Wells Fargo Advantage Multi-Sector Income Fund management team in years:

9.3
Average Tenure
56
Average Age
  • The average tenure for the Wells Fargo Advantage Multi-Sector Income Fund management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Debra Early

TITLE
Senior VP and Head of Risk & Compliance
AGE
54
TENURE
9.3 yrs

Clark Messman

TITLE
Senior Vice President
AGE
58
TENURE
9.3 yrs

Jeremy DePalma

TITLE
Treasurer
AGE
44
TENURE
7.3 yrs

Mike Koonce

TITLE
Senior VP of Evergreen Investment Svcs Inc and General Counsel of Evergreen Investment Svcs Inc
AGE
58

Lauren Van Biljon

TITLE
Portfolio Manager

Brian Montana

TITLE
Assistant Secretary

Peter Wilson

TITLE
Chief Operating Officer

Tony Norris

TITLE
Portfolio Manager

Michael Lee

TITLE
Director of Trading and Senior Portfolio Manager

Alex Perrin

TITLE
Director of Research and Senior Portfolio Manager
Board of Directors Tenure

Average tenure and age of the Wells Fargo Advantage Multi-Sector Income Fund board of directors in years:

8.8
Average Tenure
67
Average Age
  • The tenure for the Wells Fargo Advantage Multi-Sector Income Fund board of directors is about average.
Board of Directors

Peter Gordon

TITLE
Chairman
COMPENSATION
$2K
AGE
76
TENURE
9.3 yrs

Michael Scofield

TITLE
COMPENSATION
$2K
AGE
75
TENURE
15.3 yrs

Ike Harris

TITLE
COMPENSATION
$2K
AGE
66
TENURE
8.8 yrs

David Larcker

TITLE
COMPENSATION
$2K
AGE
68
TENURE
8.8 yrs

Olivia Mitchell

TITLE
COMPENSATION
$2K
AGE
65
TENURE
8.8 yrs

Judith Johnson

TITLE
COMPENSATION
$2K
AGE
69
TENURE
8.8 yrs

Tim Penny

TITLE
COMPENSATION
$2K
AGE
67
TENURE
8.8 yrs

William Ebsworth

TITLE
Trustee Nominee
AGE
61

Jane Freeman

TITLE
Trustee Nominee
AGE
65
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
13. Nov 18 Buy William Ebsworth Individual 12. Nov 18 12. Nov 18 500 $11.79 $5,895
X
Management checks
We assess Wells Fargo Advantage Multi-Sector Income Fund's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Wells Fargo Advantage Multi-Sector Income Fund has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Wells Fargo Advantage Multi-Sector Income Fund is a closed-ended fixed income mutual fund launched and managed by Wells Fargo Funds Management, LLC. The fund is co-managed by First International Advisors, Inc. and Wells Capital Management Incorporated. It invests in fixed income markets across the globe. The fund primarily invests in a mix of non-investment-grade corporate debt securities, including bank loan securities, foreign and emerging markets debt securities, adjustable and fixed-rate mortgages, and investment-grade corporate bonds. It was formerly known as Evergreen Multi-Sector Income Fund. Wells Fargo Advantage Multi-Sector Income Fund was formed on June 25, 2003 and is domiciled in the United States.

Details
Name: Wells Fargo Advantage Multi-Sector Income Fund
ERC
Exchange: AMEX
Founded: 2003
$384,337,256
31,451,494
Website: http://
Address: Wells Fargo Advantage Multi-Sector Income Fund
525 Market Street,
10th Floor,
San Francisco,
California, 94105,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
AMEX ERC Common Shares NYSE MKT LLC US USD 25. Jun 2003
Number of employees
Current staff
Staff numbers
0
Wells Fargo Advantage Multi-Sector Income Fund employees.
Industry
Asset Management and Custody Banks
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/26 01:54
End of day share price update: 2019/04/25 00:00
Last earnings filing: 2019/01/08
Last earnings reported: 2018/10/31
Last annual earnings reported: 2018/10/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.