Tech investor up 34% this year believes the winning cloud software trend 'has many years to run'

People queue outside the Apple new flagship store at Sanlitun on July 17, 2020 in Beijing, China.
Quan Yajun | Visual China Group | Getty Images

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One technology fund is soaring this year thanks to its big bet on cloud companies that have seen massive growth during the pandemic. 

The Wells Fargo Specialized Technology fund is an actively managed fund that serves as a "technology growth product that investors can use to build wealth over time," according to its manager. With about nearly $600 million in net assets, the 83-stock fund has returned more than 34% this year, while most equities haven't broken even for the year thanks to the coronavirus recession. 

"The growth sectors of technology that we invest in have done well in this environment," said the fund's manager, Walter Price. "I think the pandemic just poured fuel on this trend to make it even happen faster."