Wells Fargo Funds Management, LLC, the investment advisor to Wells Fargo Advantage Funds, has rolled out a fund that will invest in a wide range of alternative investments.

The Wells Fargo Advantage Absolute Return Fund (WARAX) will make a broad array of bets, including investments in Treasury Inflation-Protected Securities, emerging debt, currencies, options, spread trades, and natural resources. The fund can also invest in commodities, real estate, and long/short strategies.

The fund will place all of its assets in a master fund managed by GMO LLC.

GMO LLC is a global institutional investment management firm that offers equity and fixed-income strategies across global developed and emerging markets, as well as absolute return strategies.

"We believe this fund, which is sufficiently nimble to take advantage of any and all global market opportunities, provides investors an appealing alternative to traditional, style box-focused mutual funds," stated Karla Rabusch, president of Wells Fargo Advantage Funds. "Our new fund has the added benefit of supplying our investor clients with a second, distinct investment vehicle from which they can tap into a GMO-managed strategy."

Hung Tran writes for Money Management Executive.