Wells Fargo is one of the four largest banks in the US and has a legacy spanning 150 years in the financial services sector. A highly diversified financial services company with operations spanning the globe, it manages over $1.4 trillion in assets. The company offers banking, insurance, investments and mortgage products through a large network of stores and other distribution channels. This wide and extensive financial network, spanning more than 80 businesses is run by a team consisting of 265,000 members.

Below we will share with you 5 top rated Wells Fargo mutual funds. Each has earned a Zacks #1 Rank (Strong Buy) as we expect these mutual funds to outperform their peers in the future. To view the Zacks Rank and past performance of all Wells Fargo funds, investors can click here to see the complete list of funds.

Wells Fargo Advantage Diversified Income Builder A (EKSAX) seeks high total return over the long term. It invests the majority of its assets in a wide range of domestic and foreign income generating instruments. A maximum of 30% of its assets may be invested in equity instruments. The fund has a one year annualized return of 13.51%.

Margaret D. Patel is the fund manager and she has managed this Wells Fargo mutual fund since 2007.

Wells Fargo Advantage Opportunity Investor (SOPFX) invests heavily in equity instruments. A maximum of 25% of its assets may be invested in foreign instruments. It invests in securities of those companies which have good growth potential, regardless of their size. The fund has a one year annualized return of 11.27%.

The Wells Fargo mutual fund has an expense ratio of 1.32% compared to a category average of 1.28%.

Wells Fargo Advantage Large Cap Growth Investor (STRFX) seeks capital growth over the long term. The fund invests the majority of its assets in large cap companies which are included in the Russell 1000 Index. A maximum of 25% of its assets may be invested in foreign instruments. The fund has a one year annualized return of 2.08%.

As of February 2013, this Wells Fargo mutual fund held 78 issues, with 5.01% of its total assets invested in Apple Inc.

Wells Fargo Advantage Growth Investor (SGROX) invests heavily in equity securities. A maximum of 25% of its assets are invested in foreign firms by purchasing American Depository Receipts (ADRs). It invests in securities of those companies that have the potential to grow their revenues and earnings. The fund has a one year annualized return of 4.25%.

Thomas C. Ognar is the fund manager and he has managed this Wells Fargo mutual fund since 2002.

Wells Fargo Advantage Colorado Tax-Free A (NWCOX) seeks high current income free from federal income taxes and Colorado individual income taxes. The fund invests heavily in municipal instruments. The interest from these instruments is exempt from federal alternative minimum tax and Colorado individual income tax. The fund has a one year annualized return of 6.20%.

The Wells Fargo mutual fund has an expense ratio of 0.85% compared to a category average of 0.96%.

To view the Zacks Rank and past performance of all Wells Fargo mutual funds, investors can click here to see the complete list of funds.

About Zacks Mutual Fund Rank

By applying the Zacks Rank to mutual funds, investors can find funds that not only outpaced the market in the past but are also expected to outperform going forward. Learn more about the Zacks Mutual Fund Rank.