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<PAGE> PAGE 2
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<PAGE> PAGE 3
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 9
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 13
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<PAGE> PAGE 14
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<PAGE> PAGE 15
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<PAGE> PAGE 16
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<PAGE> PAGE 17
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<PAGE> PAGE 18
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<PAGE> PAGE 19
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<PAGE> PAGE 20
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SIGNATURE PEGGY VAUGHAN
TITLE ASST. SECRETARY
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 1081400
<NAME> WELLS FARGO FUNDS TRUST
<SERIES>
<NUMBER> 012
<NAME> LIFEPATH OPPORTUNITY FUND RETAIL CLASS A
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> FEB-29-2000
<PERIOD-START> NOV-6-1999
<PERIOD-END> FEB-29-2000
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 59,370,070
<RECEIVABLES> 67,930
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 59,438,000
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 802,004
<TOTAL-LIABILITIES> 802,004
<SENIOR-EQUITY> 0
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<PER-SHARE-NAV-BEGIN> 15.93
<PER-SHARE-NII> 0.04
<PER-SHARE-GAIN-APPREC> 0.26
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<RETURNS-OF-CAPITAL> 0
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 1081400
<NAME> WELLS FARGO FUNDS TRUST
<SERIES>
<NUMBER> 042
<NAME> LIFEPATH 2030 FUND RETAIL CLASS A
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> FEB-29-2000
<PERIOD-START> NOV-06-1999
<PERIOD-END> FEB-29-2000
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<OVERDISTRIBUTION-NII> 0
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<OVERDISTRIBUTION-GAINS> 0
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<NET-ASSETS> 140,866,799
<DIVIDEND-INCOME> 430,839
<INTEREST-INCOME> 536,296
<OTHER-INCOME> 0
<EXPENSES-NET> (590,625)
<NET-INVESTMENT-INCOME> 376,510
<REALIZED-GAINS-CURRENT> 2,704,619
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<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (280,553)
<DISTRIBUTIONS-OF-GAINS> (16,444,081)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 662,062
<NUMBER-OF-SHARES-REDEEMED> (779,036)
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 1081400
<NAME> WELLS FARGO FUNDS TRUST
<SERIES>
<NUMBER> 043
<NAME> LIFEPATH 2030 FUND RETAIL CLASS B
<S> <C>
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<PERIOD-START> NOV-06-1999
<PERIOD-END> FEB-29-2000
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<SHARES-COMMON-PRIOR> 1,488,702
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<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 2,252,729
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 45,051,464
<NET-ASSETS> 36,405,807
<DIVIDEND-INCOME> 107,109
<INTEREST-INCOME> 133,326
<OTHER-INCOME> 0
<EXPENSES-NET> (204,590)
<NET-INVESTMENT-INCOME> 35,845
<REALIZED-GAINS-CURRENT> 678,112
<APPREC-INCREASE-CURRENT> 141,690
<NET-CHANGE-FROM-OPS> 855,647
<EQUALIZATION> (0)
<DISTRIBUTIONS-OF-INCOME> (25,270)
<DISTRIBUTIONS-OF-GAINS> (4,146,917)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 202,487
<NUMBER-OF-SHARES-REDEEMED> (120,370)
<SHARES-REINVESTED> 1,443
<NET-CHANGE-IN-ASSETS> 2,235,240
<ACCUMULATED-NII-PRIOR> 142,864
<ACCUMULATED-GAINS-PRIOR> 3,083,498
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
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<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (2,589,405)
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<PER-SHARE-NAV-BEGIN> 18.44
<PER-SHARE-NII> 0.02
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<PER-SHARE-DIVIDEND> (0.01)
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<RETURNS-OF-CAPITAL> 0
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 1081400
<NAME> WELLS FARGO FUNDS TRUST
<SERIES>
<NUMBER> 044
<NAME> LIFEPATH 2030 FUND RETAIL CLASS C
<S> <C>
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<SHARES-COMMON-PRIOR> 5,432
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<OVERDISTRIBUTION-GAINS> 0
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<OTHER-INCOME> 0
<EXPENSES-NET> (5,669)
<NET-INVESTMENT-INCOME> 971
<REALIZED-GAINS-CURRENT> 17,877
<APPREC-INCREASE-CURRENT> (7,134)
<NET-CHANGE-FROM-OPS> 11,714
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (529)
<DISTRIBUTIONS-OF-GAINS> (98,996)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 32,793
<NUMBER-OF-SHARES-REDEEMED> (569)
<SHARES-REINVESTED> 29
<NET-CHANGE-IN-ASSETS> 564,422
<ACCUMULATED-NII-PRIOR> 142,864
<ACCUMULATED-GAINS-PRIOR> 3,083,498
<OVERDISTRIB-NII-PRIOR> 0
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<GROSS-EXPENSE> (2,589,405)
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<RETURNS-OF-CAPITAL> 0
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 1081400
<NAME> WELLS FARGO FUNDS TRUST
<SERIES>
<NUMBER> 052
<NAME> LIFEPATH 2040 FUND RETAIL CLASS A
<S> <C>
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<FISCAL-YEAR-END> FEB-29-2000
<PERIOD-START> NOV-06-1999
<PERIOD-END> FEB-29-2000
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<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 103,423,429
<NET-ASSETS> 306,002,464
<DIVIDEND-INCOME> 997,631
<INTEREST-INCOME> 224,951
<OTHER-INCOME> 0
<EXPENSES-NET> (1,212,745)
<NET-INVESTMENT-INCOME> 9,837
<REALIZED-GAINS-CURRENT> 6,621,153
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<DISTRIBUTIONS-OF-INCOME> (31,700)
<DISTRIBUTIONS-OF-GAINS> (25,934,712)
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<NUMBER-OF-SHARES-SOLD> 2,533,664
<NUMBER-OF-SHARES-REDEEMED> (1,719,283)
<SHARES-REINVESTED> 1,619
<NET-CHANGE-IN-ASSETS> 24,644,911
<ACCUMULATED-NII-PRIOR> 0
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<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (2,023,744)
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<GROSS-EXPENSE> (5,526,402)
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<PER-SHARE-NAV-BEGIN> 19.90
<PER-SHARE-NII> 0.00
<PER-SHARE-GAIN-APPREC> 0.75
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> (1.87)
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<EXPENSE-RATIO> 1.30
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 1081400
<NAME> WELLS FARGO FUNDS TRUST
<SERIES>
<NUMBER> 053
<NAME> LIFEPATH 2040 FUND RETAIL CLASS B
<S> <C>
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<FISCAL-YEAR-END> FEB-29-2000
<PERIOD-START> NOV-06-1999
<PERIOD-END> FEB-29-2000
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<OVERDISTRIBUTION-GAINS> 0
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<NET-ASSETS> 93,757,309
<DIVIDEND-INCOME> 308,988
<INTEREST-INCOME> 69,672
<OTHER-INCOME> 0
<EXPENSES-NET> (523,451)
<NET-INVESTMENT-INCOME> (144,791)
<REALIZED-GAINS-CURRENT> 2,065,119
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<NET-CHANGE-FROM-OPS> 2,886,082
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<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (8,331,309)
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<NUMBER-OF-SHARES-SOLD> 503,182
<NUMBER-OF-SHARES-REDEEMED> (260,804)
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<NET-CHANGE-IN-ASSETS> 7,403,854
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 1081400
<NAME> WELLS FARGO FUNDS TRUST
<SERIES>
<NUMBER> 054
<NAME> LIFEPATH 2040 FUND RETAIL CLASS C
<S> <C>
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<FISCAL-YEAR-END> FEB-29-2000
<PERIOD-START> NOV-06-1999
<PERIOD-END> FEB-29-2000
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<INVESTMENTS-AT-VALUE> 409,281,488
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<SENIOR-LONG-TERM-DEBT> 0
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<TOTAL-LIABILITIES> 3,266,140
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 297,991,252
<SHARES-COMMON-STOCK> 332,372
<SHARES-COMMON-PRIOR> 176,661
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (343,529)
<ACCUMULATED-NET-GAINS> 5,852,984
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 103,423,429
<NET-ASSETS> 6,095,105
<DIVIDEND-INCOME> 19,174
<INTEREST-INCOME> 4,323
<OTHER-INCOME> 0
<EXPENSES-NET> (32,440)
<NET-INVESTMENT-INCOME> (8,943)
<REALIZED-GAINS-CURRENT> 128,576
<APPREC-INCREASE-CURRENT> 57,358
<NET-CHANGE-FROM-OPS> 176,991
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (504,901)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 69,871
<NUMBER-OF-SHARES-REDEEMED> (35,875)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 776,865
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 3,420,060
<OVERDISTRIB-NII-PRIOR> (36,738)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (2,023,744)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (5,526,402)
<AVERAGE-NET-ASSETS> 5,692,888
<PER-SHARE-NAV-BEGIN> 19.50
<PER-SHARE-NII> (0.02)
<PER-SHARE-GAIN-APPREC> 0.73
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> (1.87)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 18.34
<EXPENSE-RATIO> 1.80
</TABLE>
Independent Auditors' Report
To the Board of Trustees and Shareholders
Wells Fargo Trust:
In planning and performing our audits of the financial statements of Wells Fargo
Trust (comprised of LifePath Opportunity Fund, LifePath 2010 Fund, LifePath 2020
Fund, LifePath 2030 Fund and LifePath 2040 Fund) (collectively the "Funds") for
the year ended February 29, 2000, we considered their internal control,
including control activities for safeguarding securities, in order to determine
our auditing procedures for the purpose of expressing our opinion on the
financial statements and to comply with the requirements of Form N-SAR, not to
provide assurance on internal control.
The management of the Funds is responsible for establishing and maintaining
internal control. In fulfilling this responsibility, estimates and judgments by
management are required to assess the expected benefits and related costs of
controls. Generally, controls that are relevant to an audit pertain to the
entity's objective of preparing financial statements for external purposes that
are fairly presented in conformity with generally accepted accounting
principles. Those controls include the safeguarding of assets against
unauthorized acquisition, use, or disposition.
Because of inherent limitations in internal control, errors or fraud may occur
and not be detected. Also, projection of any evaluation of internal control to
future periods is subject to the risk that it may become inadequate because of
changes in conditions or that the effectiveness of the design and operation may
deteriorate.
Our consideration of internal control would not necessarily disclose all matters
in internal control that might be material weaknesses under standards
established by the American Institute of Certified Public Accountants. A
material weakness is a condition in which the design or operation of one or more
of the internal control components does not reduce to a relatively low level the
risk that error or fraud in amounts that would be material in relation to the
financial statements being audited may occur and not be detected within a timely
period by employees in the normal course of performing their assigned functions.
However, we noted no matters involving internal control, including controls over
safeguarding securities, that we consider to be material weaknesses as defined
above as of February 29, 2000.
This report is intended solely for the information and use of management, the
Board of Trustees and the Securities and Exchange Commission and is not intended
to be and should not be used by anyone other than those specified parties.
[GRAPHIC OMITTED][GRAPHIC OMITTED]
April 7, 2000
