Wells Capital Management Incorporated is an asset management arm of Wells Fargo & Company. The firm primarily provides its services to corporations and charitable organizations. It also manages accounts for high net worth individuals, investment companies, pension and profit sharing plans, pooled investment vehicles, state or municipal government entities, brokerage, wrap, foundations, healthcare organizations, educational organizations, public agencies, sovereign organizations, insurance companies, and Taft-Hartley plans. The firm manages separate client-focused equity and fixed income portfolios. It also manages mutual funds for its clients. The firm invests in public equity and fixed income markets across the globe. It invests in growth and value stocks of small-cap, mid-cap, and large-cap equity portfolios for its clients. The firm employs a fundamental analysis with a bottom-up stock picking approach to create its equity portfolios. It benchmarks the performance of its equity portfolio against the Russell 1000 Value Index, Russell 1000 Growth Index, Russell Mid Cap Growth Index, Russell 2500 Growth Index, and Russell 2000 Value Index. The firm employs a top-down approach to select the sectors and a bottom-up security selection approach to create its fixed income portfolios. It benchmarks the performance of its fixed income portfolio against the Lehman Brothers Intermediate Government/Credit Index and Lehman Brothers U.S. Aggregate Bond Index. It also makes its investments in short-term securities. Wells Capital Management was founded in 1981 and is based in San Francisco, California with additional offices in Los Angeles, California; Minneapolis, Minnesota; Walnut Creek, California; San Francisco, California; Menomonee Falls, Wisconsin; Denver, Colorado; and Lake Oswego, Oregon.