California-based Wells Fargo Funds Management, LLC launched a new Select share class of its Wells Fargo Advantage Heritage Money Market Fund and Wells Fargo Advantage Cash Investment Money Market Fund.

The Select Class shares are offered to institutional investors who make an initial money market investment of $50 million or more.

“We believe these new lower-priced Select Class shares should appeal to large corporate and institutional investors whose cash investments have risen to unprecedented levels in recent years,” portfolio manager David Sylvester said.