<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM
WELLS FARGO FUNDS SEMI-ANNUAL REPORT DATED MARCH 31, 2000
AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH REPORT.
</LEGEND>
<SERIES>
<NUMBER> 441
<NAME> DIVERSIFIED SMALL CAP FUND - I SHARES
<S> <C>
<PERIOD-TYPE> 1-MO
<FISCAL-YEAR-END> SEP-30-2000
<PERIOD-START> OCT-01-1999
<PERIOD-END> NOV-07-1999
<INVESTMENTS-AT-COST> 68582165
<INVESTMENTS-AT-VALUE> 72194268
<RECEIVABLES> 11094
<ASSETS-OTHER> 2217
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 72207579
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 53435
<TOTAL-LIABILITIES> 53435
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 70974606
<SHARES-COMMON-STOCK> 7588780
<SHARES-COMMON-PRIOR> 7474884
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 26954
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 2405611
<ACCUM-APPREC-OR-DEPREC> 3612103
<NET-ASSETS> 72154144
<DIVIDEND-INCOME> 37705
<INTEREST-INCOME> 21223
<OTHER-INCOME> (58413)
<EXPENSES-NET> 27469
<NET-INVESTMENT-INCOME> (26954)
<REALIZED-GAINS-CURRENT> (441463)
<APPREC-INCREASE-CURRENT> 2458757
<NET-CHANGE-FROM-OPS> 1990340
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 271843
<NUMBER-OF-SHARES-REDEEMED> 157947
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 2868231
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 1964148
<GROSS-ADVISORY-FEES> 17907
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 58048
<AVERAGE-NET-ASSETS> 68987409
<PER-SHARE-NAV-BEGIN> 9.02
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> 0.26
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.28
<EXPENSE-RATIO> 0.4
</TABLE>
