Barron's - USA (2021-02-15)

(Antfer) #1

February 15, 2021 BARRON’S 27


FUND PROFILE


Talking With Janet Rilling


Co-Manager, Wells Fargo Core Plus Bond


Photograph byKAT SCHLEICHER


A Nimble


Bond Fund


StaysonTop


F


resh out of the University of Wisconsin, Janet


Rilling was working as an auditor for one of


the major accounting firms when she had a


career-changing epiphany.


“I was seeing a variety of businesses up


close during the audit process and realized


that it wasn’t the ticking and tying that I en-


joyed, but learning about the management strategies and


what the drivers were of the business,” says Rilling, who


went back to the university for her master’s degree in


finance from the Applied Security Analysis program. “I


really liked the idea of being able to manage a portfolio


while in school,” she adds.


More than 25 years later, Rilling is the head of the


multisector fixed-income-plus and high-yield team at


Wells Fargo Asset Management, which in 2005 ac-


quired Rilling’s previous employer, Strong Capital


Management.


The past year has been an interesting time for fixed-


income investors, to be sure, but Rilling and her team


have been adept at navigating the market’s twists and


turns. In fact, a hallmark of their strategy is focusing on


a six-month investment horizon, with the goal of antici-


pating market inflection points and tilting allocations


accordingly. “It’s not that we turn the portfolio over ev-


ery six months,” she is quick to add. “But we’re comfort-


able making changes.”


Rilling, 52, credits that approach with giving her team


an edge in running the $1.9 billionWells Fargo Core


Plus Bondfund (ticker: STYAX), which is up 8.9% over


the past 12 months—better than 93% of its Morningstar


peers—and has returned an average of 4.9% a year over


the past decade, better than 84% of its peers.


The fund owns a minimum of 65% of its assets in


sectors included in the Bloomberg Barclays U.S. Aggre-


gate Bond Index—Treasuries and U.S. investment grade


By SARAH MAX

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