UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number: 811-09253
Allspring Funds Trust
(Exact name of registrant as specified in charter)
525 Market St., San Francisco, CA 94105
(Address of principal executive offices) (Zip code)
Matthew Prasse
Allspring Funds Management, LLC
525 Market St., San Francisco, CA 94105
(Name and address of agent for service)
Registrant’s telephone number, including area code: 800-222-8222
Date of fiscal year end: October 31
Registrant is making a filing for 5 of its series:
Allspring Emerging Markets Equity Fund, Allspring Emerging Markets Equity Income Fund, Allspring Special Global Small Cap Fund, Allspring International Equity Fund, and Allspring Special International Small Cap Fund.
Date of reporting period: October 31, 2022
ITEM 1. REPORT TO STOCKHOLDERS
![](https://capedge.com/proxy/N-CSR/0001193125-23-001376/g400084imgec503b621.jpg)
Emerging Markets Equity Fund
2 | |
6 | |
10 | |
11 | |
Financial statements | |
17 | |
18 | |
19 | |
20 | |
25 | |
32 | |
33 |
![](https://capedge.com/proxy/N-CSR/0001193125-23-001376/g400084img95882ac82.gif)
1 | The S&P 500 Index consists of 500 stocks chosen for market size, liquidity, and industry group representation. It is a market-value-weighted index with each stock's weight in the index proportionate to its market value. You cannot invest directly in an index. |
2 | The Morgan Stanley Capital International (MSCI) All Country World Index (ACWI) ex USA Index (Net) is a free-float-adjusted market-capitalization-weighted index that is designed to measure the equity market performance of developed and emerging markets, excluding the U.S. Source: MSCI. MSCI makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein. The MSCI data may not be further redistributed or used as a basis for other indexes or any securities or financial products. This report is not approved, reviewed, or produced by MSCI. You cannot invest directly in an index. |
3 | The MSCI Emerging Markets (EM) Index (Net) (USD) is a free-float-adjusted market-capitalization-weighted index that is designed to measure equity market performance of emerging markets. You cannot invest directly in an index. |
4 | The Bloomberg U.S. Aggregate Bond Index is a broad-based benchmark that measures the investment-grade, U.S.-dollar-denominated, fixed-rate taxable bond market, including Treasuries, government-related and corporate securities, mortgage-backed securities (agency fixed-rate and hybrid adjustable-rate mortgage pass-throughs), asset-backed securities, and commercial mortgage-backed securities. You cannot invest directly in an index. |
5 | The Bloomberg Global Aggregate ex-USD Index (unhedged) is an unmanaged index that provides a broad-based measure of the global investment-grade fixed-income markets excluding the U.S.-dollar-denominated debt market. You cannot invest directly in an index. |
6 | The Bloomberg Municipal Bond Index is an unmanaged index composed of long-term tax-exempt bonds with a minimum credit rating of Baa. You cannot invest directly in an index. |
7 | The ICE BofA U.S. High Yield Index is a market-capitalization-weighted index of domestic and Yankee high-yield bonds. The index tracks the performance of high-yield securities traded in the U.S. bond market. You cannot invest directly in an index. Copyright 2022. ICE Data Indices, LLC. All rights reserved. |
8 | The Consumer Price Index (CPI) is a measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services. You cannot invest directly in an index. |
1 | The MSCI ACWI (Net) is a free-float-adjusted market-capitalization-weighted index that is designed to measure the equity market performance of developed and emerging markets. You cannot invest directly in an index. |
![](https://capedge.com/proxy/N-CSR/0001193125-23-001376/g400084img3963bd673.jpg)
President
Allspring Funds
Investment objective | The Fund seeks long-term capital appreciation. |
Manager | Allspring Funds Management, LLC |
Subadviser | Allspring Global Investments, LLC |
Portfolio managers | Derrick Irwin, CFA®‡, Richard Peck, CFA®‡, Yi (Jerry) Zhang, Ph.D., CFA®‡ |
Average annual total returns (%) as of October 31, 2022 | |||||||||||
Including sales charge | Excluding sales charge | Expense ratios1 (%) | |||||||||
Inception date | 1 year | 5 year | 10 year | 1 year | 5 year | 10 year | Gross | Net 2 | |||
Class A (EMGAX) | 9-6-1994 | -36.69 | -4.91 | -0.36 | -32.82 | -3.78 | 0.23 | 1.49 | 1.45 | ||
Class C (EMGCX) | 9-6-1994 | -34.31 | -4.47 | -0.36 | -33.31 | -4.47 | -0.36 | 2.24 | 2.20 | ||
Class R6 (EMGDX)3 | 6-28-2013 | – | – | – | -32.53 | -3.37 | 0.67 | 1.06 | 1.02 | ||
Administrator Class (EMGYX) | 9-6-1994 | – | – | – | -32.73 | -3.48 | 0.45 | 1.41 | 1.37 | ||
Institutional Class (EMGNX) | 7-30-2010 | – | – | – | -32.60 | -3.44 | 0.61 | 1.16 | 1.12 | ||
MSCI EM Index (Net) (USD)4 | – | – | – | – | -31.03 | -3.09 | 0.79 | – | – |
1 | Reflects the expense ratios as stated in the most recent prospectuses, which include the impact of 0.01% in acquired fund fees and expenses. The expense ratios shown are subject to change and may differ from the annualized expense ratios shown in the financial highlights of this report, which do not include acquired fund fees and expenses. |
2 | The manager has contractually committed through February 28, 2023, to waive fees and/or reimburse expenses to the extent necessary to cap total annual fund operating expenses after fee waivers at 1.44% for Class A, 2.19% for Class C, 1.01% for Class R6, 1.36% for Administrator Class, and 1.11% for Institutional Class. Brokerage commissions, stamp duty fees, interest, taxes, acquired fund fees and expenses (if any), and extraordinary expenses are excluded from the expense caps. Prior to or after the commitment expiration date, the caps may be increased or the commitment to maintain the caps may be terminated only with the approval of the Board of Trustees. Without these caps, the Fund’s returns would have been lower. The expense ratio paid by an investor is the net expense ratio (the total annual fund operating expenses after fee waivers) as stated in the prospectuses. |
3 | Historical performance shown for the Class R6 shares prior to their inception reflects the performance of the Institutional Class shares, and includes the higher expenses applicable to the Institutional Class shares. If these expenses had not been included, returns for the Class R6 shares would be higher. |
4 | The Morgan Stanley Capital International (MSCI) Emerging Markets (EM) Index (Net) (USD) is a free-float-adjusted market-capitalization-weighted index that is designed to measure the equity market performance of emerging markets. Source: MSCI. MSCI makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein. The MSCI data may not be further redistributed or used as a basis for other indices or any securities or financial products. This report is not approved, reviewed, or produced by MSCI. You cannot invest directly in an index. |
‡ | CFA® and Chartered Financial Analyst® are trademarks owned by CFA Institute. |
![](https://capedge.com/proxy/N-CSR/0001193125-23-001376/g400084img0cf6ca234.gif)
1 | The chart compares the performance of Class A shares for the most recent ten years with the MSCI EM Index (Net) (USD). The chart assumes a hypothetical investment of $10,000 in Class A shares and reflects all operating expenses and assumes the maximum initial sales charge of 5.75%. |
■ | The Fund underperformed its benchmark, the MSCI EM Index (Net) (USD), for the 12-month period that ended October 31, 2022. |
■ | The primary sector detractors included communication services and information technology (IT); country detractors included China, Brazil, and Turkey. |
■ | The primary sector contributors included consumer staples and real estate; country contributors included Mexico, Korea, and Indonesia. |
Ten largest holdings (%) as of October 31, 20221 | |
Samsung Electronics Company Limited | 5.77 |
Reliance Industries Limited GDR | 4.04 |
Taiwan Semiconductor Manufacturing Company Limited ADR | 3.98 |
Fomento Economico Mexicano SAB de CV ADR | 3.22 |
Tencent Holdings Limited | 3.12 |
Taiwan Semiconductor Manufacturing Company Limited | 2.47 |
Uni-President Enterprises Corporation | 2.45 |
America Movil SAB de CV ADR | 2.22 |
Fibra Uno Administracion SAB de CV | 2.18 |
Meituan Dianping | 2.09 |
1 | Figures represent the percentage of the Fund's net assets. Holdings are subject to change and may have changed since the date specified. |
Sector allocation as of October 31, 20221 |
![](https://capedge.com/proxy/N-CSR/0001193125-23-001376/g400084imgf5a26b315.jpg)
1 | Figures represent the percentage of the Fund's long-term investments. Allocations are subject to change and may have changed since the date specified. |
* | This security was no longer held at the end of the reporting period. |
Country allocation as of October 31, 20221 |
![](https://capedge.com/proxy/N-CSR/0001193125-23-001376/g400084imgb1f4af3b6.jpg)
1 | Figures represent the percentage of the Fund's long-term investments. Allocations are subject to change and may have changed since the date specified. |
Beginning account value 5-1-2022 | Ending account value 10-31-2022 | Expenses paid during the period1 | Annualized net expense ratio | |
Class A | ||||
Actual | $1,000.00 | $ 831.14 | $ 6.65 | 1.44% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,017.95 | $ 7.32 | 1.44% |
Class C | ||||
Actual | $1,000.00 | $ 828.27 | $10.09 | 2.19% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,014.17 | $11.12 | 2.19% |
Class R6 | ||||
Actual | $1,000.00 | $ 833.07 | $ 4.67 | 1.01% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,020.11 | $ 5.14 | 1.01% |
Administrator Class | ||||
Actual | $1,000.00 | $ 832.30 | $ 6.28 | 1.36% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,018.35 | $ 6.92 | 1.36% |
Institutional Class | ||||
Actual | $1,000.00 | $ 832.67 | $ 5.13 | 1.11% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,019.61 | $ 5.65 | 1.11% |
Shares | Value | |||||
Common stocks: 96.83% | ||||||
Argentina: 0.64% | ||||||
MercadoLibre Incorporated (Consumer discretionary, Internet & direct marketing retail) † | 25,116 | $ 22,645,088 | ||||
Brazil: 9.16% | ||||||
Americanas SA (Consumer discretionary, Internet & direct marketing retail) | 15,543,648 | 46,761,841 | ||||
Atacadao Distribuicao Comercio e Industria Limitada (Consumer staples, Food & staples retailing) | 6,377,000 | 24,024,087 | ||||
B3 Brasil Bolsa Balcao SA (Financials, Capital markets) | 20,405,515 | 59,413,212 | ||||
Banco Bradesco SA ADR (Financials, Banks) | 5,976,276 | 22,650,086 | ||||
BRF Brazil Foods SA ADR (Consumer staples, Food products) †« | 9,669,115 | 23,205,876 | ||||
Companhia Brasileira de Aluminio (Materials, Metals & mining) | 4,652,600 | 9,943,801 | ||||
Diagnosticos da America SA (Health care, Health care providers & services) | 2,980,473 | 11,557,231 | ||||
Hapvida Participacoes e Investimentos SA (Health care, Health care providers & services) 144A | 26,727,335 | 40,358,767 | ||||
Inter and Company Incorporated BDR (Financials, Banks) † | 1,097,700 | 3,302,344 | ||||
Lojas Renner SA (Consumer discretionary, Multiline retail) | 6,486,892 | 38,804,562 | ||||
Magazine Luiza SA (Consumer discretionary, Multiline retail) † | 21,599,800 | 18,691,532 | ||||
Multiplan Empreendimentos Imobiliarios SA (Real estate, Real estate management & development) | 1,846,906 | 9,424,923 | ||||
Raia Drogasil SA (Consumer staples, Food & staples retailing) | 1,968,000 | 10,023,827 | ||||
ZAMP SA (Consumer discretionary, Hotels, restaurants & leisure) † | 3,255,794 | 4,840,673 | ||||
323,002,762 | ||||||
Chile: 1.63% | ||||||
Banco Santander Chile SA ADR (Financials, Banks) | 1,190,492 | 17,178,800 | ||||
Falabella SA (Consumer discretionary, Multiline retail) | 20,646,599 | 40,324,845 | ||||
57,503,645 | ||||||
China: 20.56% | ||||||
Agora Incorporated ADR (Information technology, Software) † | 1,174,765 | 3,277,594 | ||||
Alibaba Group Holding Limited (Consumer discretionary, Internet & direct marketing retail) † | 2,020,000 | 15,813,317 | ||||
Alibaba Group Holding Limited ADR (Consumer discretionary, Internet & direct marketing retail) | 959,837 | 61,026,436 | ||||
Bilibili Incorporated ADR (Communication services, Entertainment) †« | 2,640,012 | 23,548,907 | ||||
China Life Insurance Company Limited Class H (Financials, Insurance) | 8,043,190 | 8,760,808 | ||||
China Literature Limited (Communication services, Media) 144A† | 4,716,168 | 12,707,185 | ||||
China MeiDong Auto Holdings Limited (Consumer discretionary, Specialty retail) | 12,373,400 | 16,267,412 | ||||
FinVolution Group ADR (Financials, Consumer finance) | 4,401,985 | 19,104,615 |
Shares | Value | |||||
China: (continued) | ||||||
Greentree Hospitality Group Limited (Consumer discretionary, Hotels, restaurants & leisure) | 2,531,768 | $ 6,202,832 | ||||
Hua Medicine Limited (Health care, Pharmaceuticals) 144A† | 8,733,136 | 2,358,608 | ||||
Li Ning Company Limited (Consumer discretionary, Textiles, apparel & luxury goods) | 12,284,707 | 63,539,025 | ||||
Meituan Dianping (Consumer discretionary, Internet & direct marketing retail) † | 4,637,600 | 73,732,266 | ||||
Shandong Weigao Group Medical Polymer Company Limited Class H (Health care, Health care equipment & supplies) | 35,890,600 | 49,471,797 | ||||
Tencent Holdings Limited (Communication services, Interactive media & services) | 4,204,700 | 110,130,556 | ||||
Tencent Music Entertainment ADR (Communication services, Entertainment) † | 4,586,603 | 16,557,637 | ||||
Tongdao Liepin Group (Communication services, Interactive media & services) † | 1,636,260 | 1,425,798 | ||||
Trip.com Group Limited ADR (Consumer discretionary, Hotels, restaurants & leisure) † | 1,847,013 | 41,797,904 | ||||
Tsingtao Brewery Company Limited Class H (Consumer staples, Beverages) | 5,602,500 | 39,254,935 | ||||
Uxin Limited ADR (Consumer discretionary, Internet & direct marketing retail) † | 395,000 | 1,627,400 | ||||
Uxin Limited ADR Class A (Consumer discretionary, Internet & direct marketing retail) ♦ | 23,979,831 | 3,293,222 | ||||
Vipshop Holdings Limited ADR (Consumer discretionary, Internet & direct marketing retail) † | 5,228,039 | 36,439,432 | ||||
Want Want China Holdings Limited (Consumer staples, Food products) | 76,125,800 | 50,041,611 | ||||
Weibo Corporation ADR (Communication services, Interactive media & services) † | 2,221,212 | 25,144,120 | ||||
Xiaomi Corporation Class B (Information technology, Technology hardware, storage & peripherals) 144A† | 25,921,900 | 29,093,264 | ||||
Zepp Health Corporation ADR Class A (Information technology, Electronic equipment, instruments & components) | 2,439,291 | 3,000,328 | ||||
Zhou Hei Ya International Holding Company Limited (Consumer staples, Food products) 144A | 25,612,726 | 11,289,679 | ||||
724,906,688 | ||||||
Colombia: 0.36% | ||||||
Bancolombia SA ADR (Financials, Banks) | 499,100 | 12,662,167 | ||||
Hong Kong: 4.37% | ||||||
AIA Group Limited (Financials, Insurance) | 9,527,500 | 72,157,341 | ||||
Johnson Electric Holdings Limited (Consumer discretionary, Auto components) | 4,183,050 | 4,311,132 | ||||
Sun Art Retail Group Limited (Consumer staples, Food & staples retailing) « | 84,455,400 | 13,448,912 | ||||
WH Group Limited (Consumer staples, Food products) 144A | 126,938,195 | 64,199,631 | ||||
154,117,016 | ||||||
India: 16.27% | ||||||
Axis Bank Limited (Financials, Banks) | 3,811,923 | 41,721,509 | ||||
Bajaj Finance Limited (Financials, Consumer finance) | 365,281 | 31,525,523 |
Shares | Value | |||||
India: (continued) | ||||||
Bandhan Bank Limited (Financials, Banks) 144A† | 1,416,131 | $ 4,081,037 | ||||
Bharti Airtel Limited (Communication services, Wireless telecommunication services) | 5,019,052 | 50,446,695 | ||||
Bharti Airtel Limited (Partly Paid) (Communication services, Wireless telecommunication services) | 347,789 | 1,848,236 | ||||
Dalmia Bharat Limited (Materials, Construction materials) | 624,658 | 12,081,136 | ||||
Fortis Healthcare Limited (Health care, Health care providers & services) † | 5,634,970 | 18,887,046 | ||||
HDFC Bank Limited (Financials, Banks) | 2,200,000 | 39,778,201 | ||||
HDFC Bank Limited ADR (Financials, Banks) | 374,752 | 23,350,797 | ||||
HDFC Limited (Financials, Thrifts & mortgage finance) | 1,115,700 | 33,288,706 | ||||
Indus Towers Limited (Communication services, Diversified telecommunication services) | 1,943,851 | 4,356,067 | ||||
ITC Limited (Consumer staples, Tobacco) | 16,513,960 | 69,565,013 | ||||
JM Financial Limited (Financials, Capital markets) | 11,571,429 | 9,568,594 | ||||
Kotak Mahindra Bank Limited (Financials, Banks) | 1,027,262 | 23,603,044 | ||||
Max Financial Services Limited (Financials, Insurance) † | 925,389 | 7,915,456 | ||||
Reliance Industries Limited (Energy, Oil, gas & consumable fuels) | 450,000 | 13,860,288 | ||||
Reliance Industries Limited GDR (Energy, Oil, gas & consumable fuels) 144A | 2,332,274 | 142,385,328 | ||||
SBI Life Insurance Company Limited (Financials, Insurance) 144A | 964,273 | 14,747,019 | ||||
SH Kelkar & Company Limited (Materials, Chemicals) | 1,244,001 | 2,057,367 | ||||
Spandana Sphoorty Financial Limited (Financials, Consumer finance) † | 440,254 | 3,261,318 | ||||
Ultra Tech Cement Limited (Materials, Construction materials) | 311,000 | 25,228,467 | ||||
573,556,847 | ||||||
Indonesia: 3.48% | ||||||
PT Astra International Tbk (Consumer discretionary, Automobiles) | 79,651,000 | 33,959,234 | ||||
PT Bank Central Asia Tbk (Financials, Banks) | 62,747,500 | 35,401,699 | ||||
PT Telekomunikasi Indonesia Persero Tbk (Communication services, Diversified telecommunication services) | 53,000,000 | 14,917,134 | ||||
PT Telekomunikasi Indonesia Persero Tbk ADR (Communication services, Diversified telecommunication services) | 1,377,471 | 38,321,243 | ||||
122,599,310 | ||||||
Luxembourg: 0.40% | ||||||
InPost SA (Industrials, Industrial conglomerates) † | 2,222,122 | 14,190,626 | ||||
Mexico: 10.15% | ||||||
America Movil SAB de CV ADR (Communication services, Wireless telecommunication services) | 4,152,304 | 78,104,838 | ||||
Becle SAB de CV ADR (Consumer staples, Beverages) | 14,709,921 | 31,152,692 | ||||
Cemex SAB de CV ADR (Materials, Construction materials) † | 4,431,948 | 17,107,319 | ||||
Fibra Uno Administracion SAB de CV (Real estate, Equity REITs) | 65,797,671 | 76,813,210 | ||||
Fomento Economico Mexicano SAB de CV ADR (Consumer staples, Beverages) | 1,585,182 | 113,530,735 |
Shares | Value | |||||
Mexico: (continued) | ||||||
Grupo Financiero Banorte SAB de CV (Financials, Banks) | 2,888,188 | $ 23,511,626 | ||||
Walmart de Mexico SAB de CV (Consumer staples, Food & staples retailing) | 4,572,900 | 17,665,662 | ||||
357,886,082 | ||||||
Nigeria: 0.08% | ||||||
IHS Holding Limited (Communication services, Diversified telecommunication services) †« | 493,367 | 2,945,401 | ||||
Peru: 0.64% | ||||||
Compania de Minas Buenaventura SA ADR (Materials, Metals & mining) | 896,695 | 6,223,063 | ||||
Southern Copper Corporation (Materials, Metals & mining) | 349,250 | 16,404,273 | ||||
22,627,336 | ||||||
Philippines: 0.68% | ||||||
AC Energy Corporation (Utilities, Independent power & renewable electricity producers) | 2,512,872 | 273,236 | ||||
Ayala Corporation (Industrials, Industrial conglomerates) | 837,624 | 9,720,458 | ||||
San Miguel Food & Beverage Incorporated (Consumer staples, Food products) | 3,495,810 | 2,210,285 | ||||
SM Investments Corporation (Industrials, Industrial conglomerates) | 812,873 | 11,585,362 | ||||
23,789,341 | ||||||
Russia: 0.00% | ||||||
Fix Price Group Limited GDR (Acquired 3-5-2021, cost $18,030,080) (Consumer discretionary, Specialty retail) ♦†> | 1,849,239 | 0 | ||||
Headhunter Group plc ADR (Acquired 5-9-2019, cost $4,133,160) (Industrials, Professional services) ♦†> | 306,160 | 0 | ||||
Lukoil PJSC (Acquired 4-9-2002, cost $16,128,202) (Energy, Oil, gas & consumable fuels) ♦†> | 340,179 | 0 | ||||
Magnit PJSC (Acquired 4-29-2013, cost $32,870,256) (Consumer staples, Food & staples retailing) ♦†> | 233,669 | 0 | ||||
Ozon Holdings plc ADR (Acquired 11-24-2020, cost $2,541,390) (Consumer discretionary, Internet & direct marketing retail) ♦†>« | 84,713 | 0 | ||||
Sberbank of Russia PJSC (Acquired 8-18-2011, cost $17,232,150) (Financials, Banks) ♦†> | 6,000,456 | 0 | ||||
Yandex NV Class A (Acquired 11-30-2012, cost $30,036,086) (Communication services, Interactive media & services) ♦†> | 1,147,406 | 0 | ||||
0 | ||||||
South Africa: 3.31% | ||||||
MTN Group Limited (Communication services, Wireless telecommunication services) | 4,888,543 | 34,554,797 | ||||
Shoprite Holdings Limited (Consumer staples, Food & staples retailing) | 3,571,500 | 45,477,991 | ||||
Standard Bank Group Limited (Financials, Banks) | 2,147,090 | 20,063,858 | ||||
Tiger Brands Limited (Consumer staples, Food products) | 1,631,933 | 16,527,444 | ||||
116,624,090 |
Shares | Value | |||||
South Korea: 11.30% | ||||||
KT Corporation ADR (Communication services, Diversified telecommunication services) | 4,414,713 | $ 56,111,002 | ||||
KT&G Corporation (Consumer staples, Tobacco) | 317,091 | 21,303,386 | ||||
LG Chem Limited (Materials, Chemicals) | 50,109 | 22,021,295 | ||||
Naver Corporation (Communication services, Interactive media & services) | 248,500 | 29,569,834 | ||||
Samsung Electronics Company Limited (Information technology, Technology hardware, storage & peripherals) | 4,875,800 | 203,322,354 | ||||
Samsung Life Insurance Company Limited (Financials, Insurance) | 710,337 | 33,610,666 | ||||
SK Hynix Incorporated (Information technology, Semiconductors & semiconductor equipment) | 556,500 | 32,308,996 | ||||
398,247,533 | ||||||
Taiwan: 11.19% | ||||||
104 Corporation (Industrials, Professional services) | 1,655,000 | 9,758,709 | ||||
Mediatek Incorporated (Information technology, Semiconductors & semiconductor equipment) | 2,411,881 | 44,161,992 | ||||
President Chain Store Corporation (Consumer staples, Food & staples retailing) | 3,220,000 | 26,781,286 | ||||
Taiwan Semiconductor Manufacturing Company Limited (Information technology, Semiconductors & semiconductor equipment) | 7,205,224 | 87,207,304 | ||||
Taiwan Semiconductor Manufacturing Company Limited ADR (Information technology, Semiconductors & semiconductor equipment) | 2,276,552 | 140,121,776 | ||||
Uni-President Enterprises Corporation (Consumer staples, Food products) | 42,512,368 | 86,416,638 | ||||
394,447,705 | ||||||
Thailand: 2.52% | ||||||
PTT Exploration & Production PCL (Energy, Oil, gas & consumable fuels) | 1,933,139 | 9,167,935 | ||||
PTT PCL (Energy, Oil, gas & consumable fuels) | 22,759,000 | 21,527,168 | ||||
SCB X PCL (Financials, Banks) | 8,405,100 | 23,408,844 | ||||
Thai Beverage PCL (Consumer staples, Beverages) | 85,427,000 | 34,699,438 | ||||
88,803,385 | ||||||
Turkey: 0.09% | ||||||
Agesa Hayat ve Emeklilik AS (Financials, Insurance) † | 1,901,979 | 3,216,584 | ||||
Total Common stocks (Cost $3,612,682,634) | 3,413,771,606 |
Interest rate | Maturity date | Principal | ||||
Convertible debentures: 0.00% | ||||||
Brazil: 0.00% | ||||||
Lupatech SA (Energy, Energy equipment & services) ♦† | 6.50% | 4-15-2049 | $ 303,000 | 0 | ||
Total Convertible debentures (Cost $160,691) | 0 |
Yield | Shares | Value | ||||
Short-term investments: 4.31% | ||||||
Investment companies: 4.31% | ||||||
Allspring Government Money Market Fund Select Class ♠∞ | 2.94% | 113,703,486 | $ ��� 113,703,486 | |||
Securities Lending Cash Investments LLC ♠∩∞ | 3.14 | 38,056,633 | 38,056,633 | |||
Total Short-term investments (Cost $151,760,119) | 151,760,119 | |||||
Total investments in securities (Cost $3,764,603,444) | 101.14% | 3,565,531,725 | ||||
Other assets and liabilities, net | (1.14) | (40,022,683) | ||||
Total net assets | 100.00% | $3,525,509,042 |
† | Non-income-earning security |
144A | The security may be resold in transactions exempt from registration, normally to qualified institutional buyers, pursuant to Rule 144A under the Securities Act of 1933. |
♦ | The security is fair valued in accordance with Allspring Funds Management's valuation procedures, as the Board-designated valuation designee. |
> | Restricted security as to resale, excluding Rule 144A securities. The Fund held restricted securities with an aggregate current value of $0 (original aggregate cost of $120,971,324), representing 0.00% of its net assets as of period end. |
« | All or a portion of this security is on loan. |
♠ | The issuer of the security is an affiliated person of the Fund as defined in the Investment Company Act of 1940. |
∩ | The investment is a non-registered investment company purchased with cash collateral received from securities on loan. |
∞ | The rate represents the 7-day annualized yield at period end. |
Abbreviations: | |
ADR | American depositary receipt |
BDR | Brazilian depositary receipt |
GDR | Global depositary receipt |
REIT | Real estate investment trust |
Value, beginning of period | Purchases | Sales proceeds | Net realized gains (losses) | Net change in unrealized gains (losses) | Value, end of period | Shares, end of period | Income from affiliated securities | |||
Short-term investments | ||||||||||
Allspring Government Money Market Fund Select Class | $342,869,585 | $907,553,791 | $(1,136,719,890) | $ 0 | $0 | $ 113,703,486 | 113,703,486 | $ 1,493,748 | ||
Securities Lending Cash Investments LLC | 46,289,014 | 790,250,520 | (798,482,391) | (510) | 0 | 38,056,633 | 38,056,633 | 968,519 # | ||
$(510) | $0 | $151,760,119 | $2,462,267 |
# | Amount shown represents income before fees and rebates. |
Assets | |
Investments in unaffiliated securities (including $35,336,036 of securities loaned), at value (cost $3,612,843,325) | $ 3,413,771,606 |
Investments in affiliated securities, at value (cost $151,760,119) | 151,760,119 |
Foreign currency, at value (cost $8,909,816) | 7,728,933 |
Receivable for Fund shares sold | 4,793,527 |
Receivable for dividends | 4,150,011 |
Receivable for investments sold | 2,333,619 |
Receivable for securities lending income, net | 50,165 |
Prepaid expenses and other assets | 242,402 |
Total assets | 3,584,830,382 |
Liabilities | |
Payable upon receipt of securities loaned | 38,056,633 |
Contingent tax liability | 13,356,592 |
Payable for Fund shares redeemed | 4,820,880 |
Management fee payable | 2,520,808 |
Administration fees payable | 377,798 |
Distribution fee payable | 3,596 |
Accrued expenses and other liabilities | 185,033 |
Total liabilities | 59,321,340 |
Total net assets | $3,525,509,042 |
Net assets consist of | |
Paid-in capital | $ 3,918,572,818 |
Total distributable loss | (393,063,776) |
Total net assets | $3,525,509,042 |
Computation of net asset value and offering price per share | |
Net assets – Class A | $ 139,997,295 |
Shares outstanding – Class A1 | 6,937,085 |
Net asset value per share – Class A | $20.18 |
Maximum offering price per share – Class A2 | $21.41 |
Net assets – Class C | $ 5,558,233 |
Shares outstanding – Class C1 | 334,092 |
Net asset value per share – Class C | $16.64 |
Net assets – Class R6 | $ 368,844,508 |
Shares outstanding – Class R61 | 17,513,860 |
Net asset value per share – Class R6 | $21.06 |
Net assets – Administrator Class | $ 41,116,977 |
Shares outstanding – Administrator Class1 | 1,922,623 |
Net asset value per share – Administrator Class | $21.39 |
Net assets – Institutional Class | $ 2,969,992,029 |
Shares outstanding – Institutional Class1 | 141,109,223 |
Net asset value per share – Institutional Class | $21.05 |
1 | The Fund has an unlimited number of authorized shares. |
2 | Maximum offering price is computed as 100/94.25 of net asset value. On investments of $50,000 or more, the offering price is reduced. |
Investment income | |
Dividends (net of foreign withholdings taxes of $13,714,222) | $ 100,872,564 |
Income from affiliated securities | 2,873,693 |
Total investment income | 103,746,257 |
Expenses | |
Management fee | 49,063,061 |
Administration fees | |
Class A | 388,911 |
Class C | 17,857 |
Class R6 | 136,582 |
Administrator Class | 75,467 |
Institutional Class | 5,393,677 |
Shareholder servicing fees | |
Class A | 462,989 |
Class C | 21,071 |
Administrator Class | 137,905 |
Distribution fee | |
Class C | 63,031 |
Custody and accounting fees | 2,694,894 |
Professional fees | 65,663 |
Registration fees | 143,942 |
Shareholder report expenses | 387,425 |
Trustees’ fees and expenses | 20,819 |
Other fees and expenses | 170,853 |
Total expenses | 59,244,147 |
Less: Fee waivers and/or expense reimbursements | |
Fund-level | (4,463,408) |
Class A | (37,039) |
Class C | (4) |
Class R6 | (45,527) |
Administrator Class | (1,090) |
Institutional Class | (414,898) |
Net expenses | 54,282,181 |
Net investment income | 49,464,076 |
Realized and unrealized gains (losses) on investments | |
Net realized losses on | |
Unaffiliated securities | (157,618,742) |
Affiliated securities | (510) |
Net realized losses on investments | (157,619,252) |
Net change in unrealized gains (losses) on investments (net of deferred foreign capital gain tax of $3,698,942) | (1,751,750,563) |
Net realized and unrealized gains (losses) on investments | (1,909,369,815) |
Net decrease in net assets resulting from operations | $(1,859,905,739) |
Year ended October 31, 2022 | Year ended October 31, 2021 | |||
Operations | ||||
Net investment income | $ 49,464,076 | $ 6,949,032 | ||
Net realized gains (losses) on investments | (157,619,252) | 133,343,798 | ||
Net change in unrealized gains (losses) on investments | (1,751,750,563) | 261,905,138 | ||
Net increase (decrease) in net assets resulting from operations | (1,859,905,739) | 402,197,968 | ||
Distributions to shareholders from | ||||
Net investment income and net realized gains | ||||
Class A | (523,337) | (153,789) | ||
Class R6 | (3,926,921) | (1,997,619) | ||
Administrator Class | (226,378) | (99,238) | ||
Institutional Class | (29,592,408) | (16,550,884) | ||
Total distributions to shareholders | (34,269,044) | (18,801,530) | ||
Capital share transactions | Shares | Shares | ||
Proceeds from shares sold | ||||
Class A | 522,651 | 13,494,450 | 1,279,782 | 41,046,133 |
Class C | 16,918 | 350,881 | 62,037 | 1,713,686 |
Class R6 | 4,238,704 | 110,361,263 | 9,192,248 | 309,903,863 |
Administrator Class | 238,489 | 6,392,265 | 498,122 | 17,534,140 |
Institutional Class | 40,883,064 | 1,076,015,019 | 70,742,883 | 2,393,030,346 |
1,206,613,878 | 2,763,228,168 | |||
Reinvestment of distributions | ||||
Class A | 17,202 | 485,624 | 4,479 | 141,490 |
Class R6 | 113,499 | 3,332,328 | 50,522 | 1,661,164 |
Administrator Class | 7,483 | 223,655 | 2,928 | 97,946 |
Institutional Class | 998,541 | 29,327,151 | 498,950 | 16,405,460 |
33,368,758 | 18,306,060 | |||
Payment for shares redeemed | ||||
Class A | (1,332,931) | (33,898,169) | (1,235,712) | (40,017,608) |
Class C | (174,207) | (3,663,650) | (452,222) | (11,814,354) |
Class R6 | (3,896,910) | (101,644,199) | (3,539,255) | (119,511,518) |
Administrator Class | (772,810) | (20,890,449) | (598,958) | (20,572,954) |
Institutional Class | (70,531,121) | (1,854,111,980) | (40,944,202) | (1,393,110,438) |
(2,014,208,447) | (1,585,026,872) | |||
Net increase (decrease) in net assets resulting from capital share transactions | (774,225,811) | 1,196,507,356 | ||
Total increase (decrease) in net assets | (2,668,400,594) | 1,579,903,794 | ||
Net assets | ||||
Beginning of period | 6,193,909,636 | 4,614,005,842 | ||
End of period | $ 3,525,509,042 | $ 6,193,909,636 |
Year ended October 31 | |||||
Class A | 2022 | 2021 | 2020 | 2019 | 2018 |
Net asset value, beginning of period | $30.11 | $27.39 | $25.29 | $21.16 | $24.83 |
Net investment income (loss) | 0.18 1 | (0.07) 1 | 0.00 2 | 0.10 | 0.07 |
Payment from affiliate | 0.00 | 0.00 | 0.00 2 | 0.00 | 0.00 |
Net realized and unrealized gains (losses) on investments | (10.04) | 2.81 | 2.28 | 4.11 | (3.70) |
Total from investment operations | (9.86) | 2.74 | 2.28 | 4.21 | (3.63) |
Distributions to shareholders from | |||||
Net investment income | (0.07) | (0.02) | (0.18) | (0.08) | (0.04) |
Net asset value, end of period | $20.18 | $30.11 | $27.39 | $25.29 | $21.16 |
Total return3 | (32.82)% | 10.00% | 9.03% 4 | 19.95% | (14.65)% |
Ratios to average net assets (annualized) | |||||
Gross expenses | 1.54% | 1.48% | 1.54% | 1.57% | 1.58% |
Net expenses | 1.43% | 1.46% | 1.52% | 1.57% | 1.57% |
Net investment income (loss) | 0.69% | (0.21)% | 0.13% | 0.43% | 0.38% |
Supplemental data | |||||
Portfolio turnover rate | 5% | 9% | 12% | 8% | 11% |
Net assets, end of period (000s omitted) | $139,997 | $232,735 | $210,393 | $227,811 | $201,515 |
1 | Calculated based upon average shares outstanding |
2 | Amount is less than $0.005. |
3 | Total return calculations do not include any sales charges. |
4 | During the year ended October 31, 2020, the Fund received a payment from an affiliate that had an impact of less than 0.005% on total return. |
Year ended October 31 | |||||
Class C | 2022 | 2021 | 2020 | 2019 | 2018 |
Net asset value, beginning of period | $24.95 | $22.86 | $21.09 | $17.71 | $20.92 |
Net investment loss | (0.02) 1 | (0.27) 1 | (0.14) 1 | (0.07) 1 | (0.08) 1 |
Payment from affiliate | 0.00 | 0.00 | 0.04 | 0.00 | 0.00 |
Net realized and unrealized gains (losses) on investments | (8.29) | 2.36 | 1.87 | 3.45 | (3.13) |
Total from investment operations | (8.31) | 2.09 | 1.77 | 3.38 | (3.21) |
Net asset value, end of period | $16.64 | $24.95 | $22.86 | $21.09 | $17.71 |
Total return2 | (33.31)% | 9.14% | 8.39% 3 | 19.09% | (15.34)% |
Ratios to average net assets (annualized) | |||||
Gross expenses | 2.28% | 2.23% | 2.29% | 2.32% | 2.33% |
Net expenses | 2.19% | 2.22% | 2.28% | 2.32% | 2.32% |
Net investment loss | (0.11)% | (0.98)% | (0.64)% | (0.37)% | (0.38)% |
Supplemental data | |||||
Portfolio turnover rate | 5% | 9% | 12% | 8% | 11% |
Net assets, end of period (000s omitted) | $5,558 | $12,260 | $20,149 | $29,484 | $49,103 |
1 | Calculated based upon average shares outstanding |
2 | Total return calculations do not include any sales charges. |
3 | During the year ended October 31, 2020, the Fund received a payment from an affiliate which had a 0.18% impact on the total return. |
Year ended October 31 | |||||
Class R6 | 2022 | 2021 | 2020 | 2019 | 2018 |
Net asset value, beginning of period | $31.45 | $28.59 | $26.39 | $22.10 | $26.00 |
Net investment income | 0.30 1 | 0.08 1 | 0.17 | 0.22 1 | 0.23 1 |
Net realized and unrealized gains (losses) on investments | (10.47) | 2.92 | 2.33 | 4.27 | (3.92) |
Total from investment operations | (10.17) | 3.00 | 2.50 | 4.49 | (3.69) |
Distributions to shareholders from | |||||
Net investment income | (0.22) | (0.14) | (0.30) | (0.20) | (0.21) |
Net asset value, end of period | $21.06 | $31.45 | $28.59 | $26.39 | $22.10 |
Total return | (32.53)% | 10.47% | 9.49% | 20.50% | (14.33)% |
Ratios to average net assets (annualized) | |||||
Gross expenses | 1.11% | 1.05% | 1.11% | 1.14% | 1.16% |
Net expenses | 1.01% | 1.04% | 1.11% | 1.14% | 1.15% |
Net investment income | 1.13% | 0.23% | 0.55% | 0.88% | 0.90% |
Supplemental data | |||||
Portfolio turnover rate | 5% | 9% | 12% | 8% | 11% |
Net assets, end of period (000s omitted) | $368,845 | $536,456 | $324,637 | $351,829 | $326,131 |
1 | Calculated based upon average shares outstanding |
Year ended October 31 | |||||
Administrator Class | 2022 | 2021 | 2020 | 2019 | 2018 |
Net asset value, beginning of period | $31.89 | $29.01 | $26.50 | $22.18 | $26.08 |
Net investment income (loss) | 0.20 1 | (0.05) 1 | 0.05 1 | 0.13 1 | 0.12 1 |
Payment from affiliate | 0.00 | 0.00 | 0.31 | 0.00 | 0.00 |
Net realized and unrealized gains (losses) on investments | (10.60) | 2.97 | 2.35 | 4.30 | (3.90) |
Total from investment operations | (10.40) | 2.92 | 2.71 | 4.43 | (3.78) |
Distributions to shareholders from | |||||
Net investment income | (0.10) | (0.04) | (0.20) | (0.11) | (0.12) |
Net asset value, end of period | $21.39 | $31.89 | $29.01 | $26.50 | $22.18 |
Total return | (32.73)% 2 | 10.09% | 10.25% 3 | 20.09% | (14.57)% |
Ratios to average net assets (annualized) | |||||
Gross expenses | 1.45% | 1.40% | 1.46% | 1.49% | 1.50% |
Net expenses | 1.36% | 1.38% | 1.43% | 1.46% | 1.46% |
Net investment income (loss) | 0.75% | (0.13)% | 0.20% | 0.54% | 0.48% |
Supplemental data | |||||
Portfolio turnover rate | 5% | 9% | 12% | 8% | 11% |
Net assets, end of period (000s omitted) | $41,117 | $78,118 | $73,888 | $104,869 | $103,740 |
1 | Calculated based upon average shares outstanding |
2 | During the year ended October 31, 2022, the Fund received payments from a service provider which had a 0.04% impact on the total return. |
3 | During the year ended October 31, 2020, the Fund received a payment from an affiliate which had a 1.16% impact on the total return. |
Year ended October 31 | |||||
Institutional Class | 2022 | 2021 | 2020 | 2019 | 2018 |
Net asset value, beginning of period | $31.42 | $28.57 | $26.38 | $22.10 | $25.99 |
Net investment income | 0.27 1 | 0.04 1 | 0.14 | 0.19 | 0.19 |
Net realized and unrealized gains (losses) on investments | (10.45) | 2.92 | 2.34 | 4.28 | (3.89) |
Total from investment operations | (10.18) | 2.96 | 2.48 | 4.47 | (3.70) |
Distributions to shareholders from | |||||
Net investment income | (0.19) | (0.11) | (0.29) | (0.19) | (0.19) |
Net asset value, end of period | $21.05 | $31.42 | $28.57 | $26.38 | $22.10 |
Total return | (32.60)% | 10.39% | 9.42% | 20.40% | (14.35)% |
Ratios to average net assets (annualized) | |||||
Gross expenses | 1.21% | 1.15% | 1.21% | 1.25% | 1.25% |
Net expenses | 1.11% | 1.14% | 1.18% | 1.19% | 1.19% |
Net investment income | 1.03% | 0.12% | 0.49% | 0.81% | 0.75% |
Supplemental data | |||||
Portfolio turnover rate | 5% | 9% | 12% | 8% | 11% |
Net assets, end of period (000s omitted) | $2,969,992 | $5,334,340 | $3,984,940 | $3,475,314 | $2,790,071 |
1 | Calculated based upon average shares outstanding |
Gross unrealized gains | $ 916,445,855 |
Gross unrealized losses | (1,188,683,979) |
Net unrealized losses | $ (272,238,124) |
■ | Level 1 – quoted prices in active markets for identical securities |
■ | Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.) |
■ | Level 3 – significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments) |
Quoted prices (Level 1) | Other significant observable inputs (Level 2) | Significant unobservable inputs (Level 3) | Total | |
Assets | ||||
Investments in: | ||||
Common stocks | ||||
Argentina | $ 22,645,088 | $ 0 | $0 | $ 22,645,088 |
Brazil | 323,002,762 | 0 | 0 | 323,002,762 |
Chile | 17,178,800 | 40,324,845 | 0 | 57,503,645 |
China | 721,613,466 | 3,293,222 | 0 | 724,906,688 |
Colombia | 12,662,167 | 0 | 0 | 12,662,167 |
Hong Kong | 154,117,016 | 0 | 0 | 154,117,016 |
India | 573,556,847 | 0 | 0 | 573,556,847 |
Indonesia | 122,599,310 | 0 | 0 | 122,599,310 |
Luxembourg | 14,190,626 | 0 | 0 | 14,190,626 |
Mexico | 357,886,082 | 0 | 0 | 357,886,082 |
Nigeria | 2,945,401 | 0 | 0 | 2,945,401 |
Peru | 22,627,336 | 0 | 0 | 22,627,336 |
Philippines | 0 | 23,789,341 | 0 | 23,789,341 |
Russia | 0 | 0 | 0 | 0 |
South Africa | 116,624,090 | 0 | 0 | 116,624,090 |
South Korea | 398,247,533 | 0 | 0 | 398,247,533 |
Taiwan | 394,447,705 | 0 | 0 | 394,447,705 |
Thailand | 88,803,385 | 0 | 0 | 88,803,385 |
Turkey | 3,216,584 | 0 | 0 | 3,216,584 |
Convertible debentures | 0 | 0 | 0 | 0 |
Short-term investments | ||||
Investment companies | 151,760,119 | 0 | 0 | 151,760,119 |
Total assets | $3,498,124,317 | $67,407,408 | $0 | $3,565,531,725 |
Average daily net assets | Management fee |
First $1 billion | 1.050% |
Next $1 billion | 1.025 |
Next $2 billion | 1.000 |
Next $1 billion | 0.975 |
Next $3 billion | 0.965 |
Next $2 billion | 0.955 |
Over $10 billion | 0.945 |
Class-level administration fee | |
Class A | 0.21% |
Class C | 0.21 |
Class R6 | 0.03 |
Administrator Class | 0.13 |
Institutional Class | 0.13 |
Expense ratio caps | |
Class A | 1.44% |
Class C | 2.19 |
Class R6 | 1.01 |
Administrator Class | 1.36 |
Institutional Class | 1.11 |
Counterparty | Value of securities on loan | Collateral received1 | Net amount |
Bank of America Securities Incorporated | $8,786,200 | $(8,786,200) | $0 |
Barclays Capital Incorporated | 6,552,720 | (6,552,720) | 0 |
BMO Capital Markets Corporation | 548,580 | (548,580) | 0 |
Citigroup Global Markets Incorporated | 4,800,644 | (4,800,644) | 0 |
JPMorgan Securities LLC | 7,133,848 | (7,133,848) | 0 |
Morgan Stanley & Company LLC | 5,182,536 | (5,182,536) | 0 |
Scotia Capital (USA) Incorporated | 2,242,488 | (2,242,488) | 0 |
SG Americas Securities LLC | 89,020 | (89,020) | 0 |
Undistributed ordinary income | Unrealized losses | Capital loss carryforward |
$35,454,801 | $(273,404,648) | $(155,108,862) |
Allspring Funds Trust:
![](https://capedge.com/proxy/N-CSR/0001193125-23-001376/g400084img788e314c7.jpg)
Name and year of birth | Position held and length of service* | Principal occupations during past five years or longer | Current other public company or investment company directorships |
William R. Ebsworth (Born 1957) | Trustee, since 2015 | Retired. From 1984 to 2013, equities analyst, portfolio manager, research director and chief investment officer at Fidelity Management and Research Company in Boston, Tokyo, and Hong Kong, and retired in 2013 as Chief Investment Officer of Fidelity Strategic Advisers, Inc. where he led a team of investment professionals managing client assets. Prior thereto, Board member of Hong Kong Securities Clearing Co., Hong Kong Options Clearing Corp., the Thailand International Fund, Ltd., Fidelity Investments Life Insurance Company, and Empire Fidelity Investments Life Insurance Company. Audit Committee Chair and Investment Committee Chair of the Vincent Memorial Hospital Endowment (non-profit organization). Mr. Ebsworth is a CFA® charterholder. | N/A |
Jane A. Freeman (Born 1953) | Trustee, since 2015; Chair Liaison, since 2018 | Retired. From 2012 to 2014 and 1999 to 2008, Chief Financial Officer of Scientific Learning Corporation. From 2008 to 2012, Ms. Freeman provided consulting services related to strategic business projects. Prior to 1999, Portfolio Manager at Rockefeller & Co. and Scudder, Stevens & Clark. Board member of the Harding Loevner Funds from 1996 to 2014, serving as both Lead Independent Director and chair of the Audit Committee. Board member of the Russell Exchange Traded Funds Trust from 2011 to 2012 and the chair of the Audit Committee. Ms. Freeman is also an inactive Chartered Financial Analyst. | N/A |
Isaiah Harris, Jr. (Born 1952) | Trustee, since 2009; Audit Committee Chair, since 2019 | Retired. Chairman of the Board of CIGNA Corporation from 2009 to 2021, and Director from 2005 to 2008. From 2003 to 2011, Director of Deluxe Corporation. Prior thereto, President and CEO of BellSouth Advertising and Publishing Corp. from 2005 to 2007, President and CEO of BellSouth Enterprises from 2004 to 2005 and President of BellSouth Consumer Services from 2000 to 2003. Emeritus member of the Iowa State University Foundation Board of Governors. Emeritus Member of the Advisory Board of Iowa State University School of Business. Advisory Board Member, Palm Harbor Academy (private school). Advisory Board Member, Fellowship of Christian Athletes. Mr. Harris is a certified public accountant (inactive status). | N/A |
David F. Larcker (Born 1950) | Trustee, since 2009 | James Irvin Miller Professor of Accounting at the Graduate School of Business (Emeritus), Stanford University, Director of the Corporate Governance Research Initiative and Senior Faculty of The Rock Center for Corporate Governance since 2006. From 2005 to 2008, Professor of Accounting at the Graduate School of Business, Stanford University. Prior thereto, Ernst & Young Professor of Accounting at The Wharton School, University of Pennsylvania from 1985 to 2005. | N/A |
Name and year of birth | Position held and length of service* | Principal occupations during past five years or longer | Current other public company or investment company directorships |
Olivia S. Mitchell (Born 1953) | Trustee, since 2006; Nominating and Governance Committee Chair, since 2018 | International Foundation of Employee Benefit Plans Professor since 1993, Wharton School of the University of Pennsylvania. Director of Wharton’s Pension Research Council and Boettner Center on Pensions & Retirement Research, and Research Associate at the National Bureau of Economic Research. Previously taught at Cornell University from 1978 to 1993. | N/A |
Timothy J. Penny (Born 1951) | Trustee, since 1996; Chair, since 2018 | President and Chief Executive Officer of Southern Minnesota Initiative Foundation, a non-profit organization, since 2007. Vice Chair of the Economic Club of Minnesota, since 2007. Co-Chair of the Committee for a Responsible Federal Budget, since 1995. Member of the Board of Trustees of NorthStar Education Finance, Inc., a non-profit organization, since 2007. Senior Fellow of the University of Minnesota Humphrey Institute from 1995 to 2017. | N/A |
James G. Polisson (Born 1959) | Trustee, since 2018 | Retired. Chief Marketing Officer, Source (ETF) UK Services, Ltd, from 2015 to 2017. From 2012 to 2015, Principal of The Polisson Group, LLC, a management consulting, corporate advisory and principal investing company. Chief Executive Officer and Managing Director at Russell Investments, Global Exchange Traded Funds from 2010 to 2012. Managing Director of Barclays Global Investors from 1998 to 2010 and Global Chief Marketing Officer for iShares and Barclays Global Investors from 2000 to 2010. Trustee of the San Francisco Mechanics’ Institute, a non-profit organization, from 2013 to 2015. Board member of the Russell Exchange Traded Fund Trust from 2011 to 2012. Director of Barclays Global Investors Holdings Deutschland GmbH from 2006 to 2009. Mr. Polisson is an attorney and has a retired status with the Massachusetts and District of Columbia Bar Associations. | N/A |
Pamela Wheelock (Born 1959) | Trustee, since January 2020; previously Trustee from January 2018 to July 2019 | Retired. Executive and Senior Financial leadership positions in the public, private and nonprofit sectors. Interim President and CEO, McKnight Foundation, 2020. Interim Commissioner, Minnesota Department of Human Services, 2019. Chief Operating Officer, Twin Cities Habitat for Humanity, 2017-2019. Vice President for University Services, University of Minnesota, 2012-2016. Interim President and CEO, Blue Cross and Blue Shield of Minnesota, 2011-2012. Executive Vice-President and Chief Financial Officer, Minnesota Wild, 2002-2008. Commissioner, Minnesota Department of Finance, 1999-2002. Chair of the Board of Directors of Destination Medical Center Corporation. Board member of the Minnesota Wild Foundation. | N/A |
Name and year of birth | Position held and length of service | Principal occupations during past five years or longer |
Andrew Owen (Born 1960) | President, since 2017 | President and Chief Executive Officer of Allspring Funds Management, LLC since 2017 and Head of Global Fund Governance of Allspring Global Investments since 2022. Prior thereto, co-president of Galliard Capital Management, LLC, an affiliate of Allspring Funds Management, LLC, from 2019 to 2022 and Head of Affiliated Managers, Allspring Global Investments, from 2014 to 2019 and Executive Vice President responsible for marketing, investments and product development for Allspring Funds Management, LLC, from 2009 to 2014. |
Jeremy DePalma (Born 1974) | Treasurer, since 2012 (for certain funds in the Fund Complex); since 2021 (for the remaining funds in the Fund Complex) | Senior Vice President of Allspring Funds Management, LLC since 2009. Senior Vice President of Evergreen Investment Management Company, LLC from 2008 to 2010 and head of the Fund Reporting and Control Team within Fund Administration from 2005 to 2010. |
Christopher Baker (Born 1976) | Chief Compliance Officer, since 2022 | Global Chief Compliance Officer for Allspring Global Investments since 2022. Prior thereto, Chief Compliance Officer for State Street Global Advisors from 2018 to 2021. Senior Compliance Officer for the State Street divisions of Alternative Investment Solutions, Sector Solutions, and Global Marketing from 2015 to 2018. From 2010 to 2015 Vice President, Global Head of Investment and Marketing Compliance for State Street Global Advisors. |
Matthew Prasse (Born 1983) | Chief Legal Officer, since 2022; Secretary, since 2021 | Senior Counsel of the Allspring Legal Department since 2021. Senior Counsel of the Wells Fargo Legal Department from 2018 to 2021. Previously, Counsel for Barings LLC from 2015 to 2018. Prior to joining Barings, Associate at Morgan, Lewis & Bockius LLP from 2008 to 2015. |
![](https://capedge.com/proxy/N-CSR/0001193125-23-001376/g400084imgec503b621.jpg)
P.O. Box 219967
Kansas City, MO 64121-9967
![](https://capedge.com/proxy/N-CSR/0001193125-23-001376/g400084img59e213b58.jpg)
1-800-222-8222 or visit the Fund's website at allspringglobal.com. Read the prospectus carefully before you invest or send money.
A238/AR238 10-22
![](https://capedge.com/proxy/N-CSR/0001193125-23-001376/g419738imgbe1bbf2c1.jpg)
Equity Income Fund
2 | |
6 | |
10 | |
11 | |
Financial statements | |
16 | |
17 | |
18 | |
19 | |
25 | |
31 | |
32 |
![](https://capedge.com/proxy/N-CSR/0001193125-23-001376/g419738img5e7a2f372.gif)
1 | The S&P 500 Index consists of 500 stocks chosen for market size, liquidity, and industry group representation. It is a market-value-weighted index with each stock's weight in the index proportionate to its market value. You cannot invest directly in an index. |
2 | The Morgan Stanley Capital International (MSCI) All Country World Index (ACWI) ex USA Index (Net) is a free-float-adjusted market-capitalization-weighted index that is designed to measure the equity market performance of developed and emerging markets, excluding the U.S. Source: MSCI. MSCI makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein. The MSCI data may not be further redistributed or used as a basis for other indexes or any securities or financial products. This report is not approved, reviewed, or produced by MSCI. You cannot invest directly in an index. |
3 | The MSCI Emerging Markets (EM) Index (Net) (USD) is a free-float-adjusted market-capitalization-weighted index that is designed to measure equity market performance of emerging markets. You cannot invest directly in an index. |
4 | The Bloomberg U.S. Aggregate Bond Index is a broad-based benchmark that measures the investment-grade, U.S.-dollar-denominated, fixed-rate taxable bond market, including Treasuries, government-related and corporate securities, mortgage-backed securities (agency fixed-rate and hybrid adjustable-rate mortgage pass-throughs), asset-backed securities, and commercial mortgage-backed securities. You cannot invest directly in an index. |
5 | The Bloomberg Global Aggregate ex-USD Index (unhedged) is an unmanaged index that provides a broad-based measure of the global investment-grade fixed-income markets excluding the U.S.-dollar-denominated debt market. You cannot invest directly in an index. |
6 | The Bloomberg Municipal Bond Index is an unmanaged index composed of long-term tax-exempt bonds with a minimum credit rating of Baa. You cannot invest directly in an index. |
7 | The ICE BofA U.S. High Yield Index is a market-capitalization-weighted index of domestic and Yankee high-yield bonds. The index tracks the performance of high-yield securities traded in the U.S. bond market. You cannot invest directly in an index. Copyright 2022. ICE Data Indices, LLC. All rights reserved. |
8 | The Consumer Price Index (CPI) is a measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services. You cannot invest directly in an index. |
1 | The MSCI ACWI (Net) is a free-float-adjusted market-capitalization-weighted index that is designed to measure the equity market performance of developed and emerging markets. You cannot invest directly in an index. |
![](https://capedge.com/proxy/N-CSR/0001193125-23-001376/g419738img7992661e3.jpg)
President
Allspring Funds
Investment objective | The Fund seeks to achieve long-term capital appreciation and current income |
Manager | Allspring Funds Management, LLC |
Subadviser | Allspring Global Investments, LLC |
Portfolio managers | Alison Shimada, Elaine Tse |
Average annual total returns (%) as of October 31, 2022 | |||||||||||
Including sales charge | Excluding sales charge | Expense ratios1 (%) | |||||||||
Inception date | 1 year | 5 year | 10 year | 1 year | 5 year | 10 year | Gross | Net 2 | |||
Class A (EQIAX) | 5-31-2012 | -30.87 | -3.99 | 0.09 | -26.67 | -2.85 | 0.69 | 1.63 | 1.55 | ||
Class C (EQICX) | 5-31-2012 | -28.27 | -3.61 | 0.08 | -27.27 | -3.61 | 0.08 | 2.38 | 2.30 | ||
Class R (EQIHX)3 | 9-30-2015 | – | – | – | -26.86 | -3.04 | 0.47 | 1.88 | 1.80 | ||
Class R6 (EQIRX)4 | 9-30-2015 | – | – | – | -26.49 | -2.47 | 1.10 | 1.20 | 1.17 | ||
Administrator Class (EQIDX) | 5-31-2012 | – | – | – | -26.65 | -2.75 | 0.85 | 1.55 | 1.45 | ||
Institutional Class (EQIIX) | 5-31-2012 | – | – | – | -26.44 | -2.52 | 1.06 | 1.30 | 1.22 | ||
MSCI EM Index (Net) (USD)5 | – | – | – | – | -31.03 | -3.09 | 0.79 | – | – | ||
MSCI EM High Dividend Yield Index (Net) (USD)6 | – | – | – | – | -25.48 | -3.41 | -1.11 | – | – |
1 | Reflects the expense ratios as stated in the most recent prospectuses. The expense ratios shown are subject to change and may differ from the annualized expense ratios shown in the financial highlights of this report. |
2 | The manager has contractually committed through February 28, 2023, to waive fees and/or reimburse expenses to the extent necessary to cap total annual fund operating expenses after fee waivers at 1.55% for Class A, 2.30% for Class C, 1.80% for Class R, 1.17% for Class R6, 1.45% for Administrator Class, and 1.22% for Institutional Class. Brokerage commissions, stamp duty fees, interest, taxes, acquired fund fees and expenses (if any), and extraordinary expenses are excluded from the expense caps. Prior to or after the commitment expiration date, the caps may be increased or the commitment to maintain the caps may be terminated only with the approval of the Board of Trustees. Without these caps, the Fund’s returns would have been lower. The expense ratio paid by an investor is the net expense ratio (the total annual fund operating expenses after fee waivers) as stated in the prospectuses. |
3 | Historical performance shown for the Class R shares prior to their inception reflects the performance of the Administrator Class shares, adjusted to reflect the higher expenses applicable to the Class R shares. |
4 | Historical performance shown for the Class R6 shares prior to their inception reflects the performance of the Institutional Class shares, and includes the higher expenses applicable to the Institutional Class shares. If these expenses had not been included, returns for the Class R6 shares would be higher. |
5 | The Morgan Stanley Capital International (MSCI) Emerging Markets (EM) Index (Net) (USD) is a free-float-adjusted market-capitalization-weighted index that is designed to measure the equity market performance of emerging markets. Source: MSCI. MSCI makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein. The MSCI data may not be further redistributed or used as a basis for other indices or any securities or financial products. This report is not approved, reviewed, or produced by MSCI. You cannot invest directly in an index. |
6 | The MSCI EM High Dividend Yield Index (Net) (USD) is based on the MSCI EM Index, its parent index, and includes large and mid-cap stocks. The index is designed to reflect the performance of equities in the parent index (excluding REITs) with higher dividend income and quality characteristics than average dividend yields that are both sustainable and persistent. The index also applies quality screens and reviews 12-month past performance to omit stocks with potentially deteriorating fundamentals that could force them to cut or reduce dividends. You cannot invest directly in an index. |
![](https://capedge.com/proxy/N-CSR/0001193125-23-001376/g419738img9ab41fcc4.gif)
1 | The chart compares the performance of Class A shares for the most recent ten years with the MSCI EM Index (Net) (USD) and MSCI EM High Dividend Yield Index (Net) (USD). The chart assumes a hypothetical investment of $10,000 in Class A shares and reflects all operating expenses and assumes the maximum initial sales charge of 5.75%. |
■ | The Fund outperformed the MSCI EM Index (Net) (USD) for the 12-month period that ended October 31, 2022. |
■ | Stock selection within the financials, communication services, and information technology (IT) sectors added value but was partially offset by unfavorable stock selection in the energy, materials, and industrials sectors. |
■ | Stock selection within China/Hong Kong, Chile, and Korea drove positive performance during the period but was partially offset by positioning in India, Kuwait, and Saudi Arabia. |
Ten largest holdings (%) as of October 31, 20221 | |
Taiwan Semiconductor Manufacturing Company Limited | 6.01 |
Samsung Electronics Company Limited | 2.74 |
Samsung Electronics Company Limited | 2.60 |
Infosys Limited | 2.16 |
Alibaba Group Holding Limited | 2.03 |
Bank of Baroda | 1.97 |
Tencent Holdings Limited | 1.85 |
LIC Housing Finance Limited | 1.54 |
LG Chem Limited | 1.53 |
Bangkok Bank PCL | 1.53 |
1 | Figures represent the percentage of the Fund's net assets. Holdings are subject to change and may have changed since the date specified. |
Sector allocation as of October 31, 20221 |
![](https://capedge.com/proxy/N-CSR/0001193125-23-001376/g419738img048541d55.jpg)
1 | Figures represent the percentage of the Fund's long-term investments. Allocations are subject to change and may have changed since the date specified. |
Country allocation as of October 31, 20221 |
![](https://capedge.com/proxy/N-CSR/0001193125-23-001376/g419738img107004e56.jpg)
1 | Figures represent the percentage of the Fund's long-term investments. Allocations are subject to change and may have changed since the date specified. |
Beginning account value 5-1-2022 | Ending account value 10-31-2022 | Expenses paid during the period1 | Annualized net expense ratio | |
Class A | ||||
Actual | $1,000.00 | $ 814.46 | $ 7.04 | 1.54% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,017.44 | $ 7.83 | 1.54% |
Class C | ||||
Actual | $1,000.00 | $ 811.33 | $10.50 | 2.30% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,013.61 | $11.67 | 2.30% |
Class R | ||||
Actual | $1,000.00 | $ 813.33 | $ 8.23 | 1.80% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,016.13 | $ 9.15 | 1.80% |
Class R6 | ||||
Actual | $1,000.00 | $ 815.40 | $ 5.35 | 1.17% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,019.31 | $ 5.96 | 1.17% |
Administrator Class | ||||
Actual | $1,000.00 | $ 814.70 | $ 6.63 | 1.45% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,017.90 | $ 7.38 | 1.45% |
Institutional Class | ||||
Actual | $1,000.00 | $ 816.20 | $ 5.58 | 1.22% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,019.06 | $ 6.21 | 1.22% |
Shares | Value | |||||
Common stocks: 89.76% | ||||||
Brazil: 4.99% | ||||||
Ambev SA (Consumer staples, Beverages) | 809,700 | $ 2,508,024 | ||||
B3 Brasil Bolsa Balcao SA (Financials, Capital markets) | 800,200 | 2,329,882 | ||||
Banco BTG Pactual SA (Financials, Capital markets) | 592,172 | 3,317,676 | ||||
Companhia Brasileira de Aluminio (Materials, Metals & mining) | 563,100 | 1,203,489 | ||||
Minerva SA (Consumer staples, Food products) | 1,051,356 | 2,784,348 | ||||
Vale SA (Materials, Metals & mining) | 169,200 | 2,198,896 | ||||
14,342,315 | ||||||
Chile: 0.99% | ||||||
Banco Santander Chile SA (Financials, Banks) | 34,571,869 | 1,238,505 | ||||
Sociedad Quimica Minera de Chile (Materials, Chemicals) | 17,003 | 1,592,841 | ||||
2,831,346 | ||||||
China: 23.43% | ||||||
Alibaba Group Holding Limited (Consumer discretionary, Internet & direct marketing retail) † | 746,100 | 5,840,750 | ||||
Baidu Incorporated Class A (Communication services, Interactive media & services) † | 145,944 | 1,396,291 | ||||
Baoshan Iron & Steel Company Limited Class A (Materials, Metals & mining) | 2,840,010 | 1,871,653 | ||||
China Construction Bank Class H (Financials, Banks) | 6,743,000 | 3,582,110 | ||||
China International Capital Corporation Limited Class H (Financials, Capital markets) 144A | 1,542,400 | 2,145,702 | ||||
China Oilfield Services Limited H Shares (Energy, Energy equipment & services) | 2,080,000 | 2,342,423 | ||||
China Resources Land Limited (Real estate, Real estate management & development) | 1,300,000 | 4,074,067 | ||||
China State Construction International Holdings (Industrials, Construction & engineering) | 2,994,000 | 2,692,813 | ||||
China Vanke Company Limited H Shares (Real estate, Real estate management & development) | 768,000 | 986,215 | ||||
China Yangtze Power Company Limited Class A (Utilities, Independent power & renewable electricity producers) | 957,195 | 2,657,054 | ||||
China Yongda Automobile Service Holding Company (Consumer discretionary, Specialty retail) | 2,331,500 | 1,045,509 | ||||
ENN Energy Holdings Limited (Utilities, Gas utilities) | 167,800 | 1,668,455 | ||||
Ganfeng Lithium Company Limited Class H (Materials, Metals & mining) 144A | 223,840 | 1,514,195 | ||||
Guangzhou Automobile Group Company Limited Class H (Consumer discretionary, Automobiles) | 3,678,000 | 2,239,697 | ||||
Huatai Securities Company Limited H Shares (Financials, Capital markets) 144A | 1,500,200 | 1,469,688 | ||||
Inner Mongolia Yili Industrial Group Company Limited Class A (Consumer staples, Food products) | 763,078 | 2,638,874 | ||||
JD.com Incorporated Class A (Consumer discretionary, Internet & direct marketing retail) | 105,400 | 1,948,309 | ||||
Kunlun Energy Company Limited (Utilities, Gas utilities) | 2,110,000 | 1,260,680 | ||||
Lenovo Group Limited (Information technology, Technology hardware, storage & peripherals) | 2,634,000 | 2,107,294 | ||||
Midea Group Company Limited Class A (Consumer discretionary, Household durables) | 751,558 | 4,137,451 | ||||
Nari Technology Company Limited (Industrials, Electrical equipment) | 495,661 | 1,657,048 | ||||
Nine Dragons Paper Holdings Limited (Materials, Paper & forest products) | 1,633,000 | 967,362 | ||||
Ping An Insurance Group Company Class H (Financials, Insurance) | 417,000 | 1,668,074 |
Shares | Value | |||||
China: (continued) | ||||||
Postal Savings Bank of China Company Limited Class H (Financials, Banks) 144A | 5,051,000 | $ 2,342,224 | ||||
Tencent Holdings Limited (Communication services, Interactive media & services) | 202,800 | 5,311,788 | ||||
Tingyi Holding Corporation (Consumer staples, Food products) | 1,820,000 | 2,847,210 | ||||
Xinyangfeng Agricultural Technology Company Limited (Materials, Chemicals) | 759,800 | 1,147,206 | ||||
Zhejiang NHU Company Limited (Health care, Biotechnology) | 1,079,821 | 2,651,247 | ||||
Zoomlion Heavy Industry Science and Technology Company Limited Class H (Industrials, Machinery) | 3,300,200 | 1,063,679 | ||||
67,275,068 | ||||||
Colombia: 0.81% | ||||||
Ecopetrol SA ADR (Energy, Oil, gas & consumable fuels) | 235,679 | 2,323,795 | ||||
Hong Kong: 1.43% | ||||||
China Merchants Port Holdings Company Limited (Industrials, Transportation infrastructure) | 1,636,000 | 1,917,436 | ||||
Chow Tai Fook Jewellery Company Limited (Consumer discretionary, Specialty retail) | 1,277,600 | 2,187,479 | ||||
4,104,915 | ||||||
India: 13.82% | ||||||
Bajaj Auto Limited (Consumer discretionary, Automobiles) | 68,879 | 3,055,339 | ||||
Bank of Baroda (Financials, Banks) | 3,173,597 | 5,662,653 | ||||
Colgate-Palmolive Company India Limited (Consumer staples, Personal products) | 203,142 | 4,004,433 | ||||
Embassy Office Parks REIT (Real estate, Equity REITs) | 721,477 | 3,001,567 | ||||
Gail India Limited (Utilities, Gas utilities) | 2,309,491 | 2,547,269 | ||||
Indus Towers Limited (Communication services, Diversified telecommunication services) | 1,043,063 | 2,337,449 | ||||
Infosys Limited (Information technology, IT services) | 333,753 | 6,199,696 | ||||
LIC Housing Finance Limited (Financials, Diversified financial services) | 906,376 | 4,437,851 | ||||
Mahanagar Gas Limited (Utilities, Gas utilities) | 283,718 | 2,953,286 | ||||
Power Grid Corporation of India Limited (Utilities, Electric utilities) | 1,185,756 | 3,268,161 | ||||
Tech Mahindra Limited (Information technology, IT services) | 173,655 | 2,230,857 | ||||
39,698,561 | ||||||
Indonesia: 2.92% | ||||||
PT Bank Negara Indonesia Persero Tbk (Financials, Banks) | 5,469,064 | 3,295,990 | ||||
PT Bank Rakyat Indonesia Tbk (Financials, Banks) | 5,404,061 | 1,611,084 | ||||
PT Telekomunikasi Indonesia Persero Tbk (Communication services, Diversified telecommunication services) | 5,680,050 | 1,598,681 | ||||
PT Unilever Indonesia Tbk (Consumer staples, Household products) | 6,362,800 | 1,892,828 | ||||
8,398,583 | ||||||
Malaysia: 1.57% | ||||||
Genting Malaysia Bhd (Consumer discretionary, Hotels, restaurants & leisure) | 2,470,900 | 1,431,951 | ||||
Petronas Chemicals Group Bhd (Materials, Chemicals) | 850,400 | 1,568,420 | ||||
RHB Bank Bhd (Financials, Banks) | 1,247,600 | 1,509,364 | ||||
4,509,735 |
Shares | Value | |||||
Mexico: 3.64% | ||||||
America Movil SAB de CV ADR (Communication services, Wireless telecommunication services) | 117,762 | $ 2,215,103 | ||||
Grupo Bimbo SAB de CV Series A (Consumer staples, Food products) | 445,113 | 1,725,591 | ||||
Grupo Financiero Banorte SAB de CV (Financials, Banks) | 302,100 | 2,459,280 | ||||
Walmart de Mexico SAB de CV (Consumer staples, Food & staples retailing) | 1,052,391 | 4,065,513 | ||||
10,465,487 | ||||||
Panama: 0.96% | ||||||
Copa Holdings SA Class A (Industrials, Airlines) † | 36,495 | 2,745,519 | ||||
Peru: 0.76% | ||||||
Southern Copper Corporation (Materials, Metals & mining) | 46,192 | 2,169,638 | ||||
Philippines: 0.53% | ||||||
Bank of the Philippine Islands (Financials, Banks) | 917,450 | 1,525,777 | ||||
Qatar: 1.23% | ||||||
Industries Qatar (Energy, Oil, gas & consumable fuels) | 398,742 | 1,726,687 | ||||
Qatar National Bank (Financials, Banks) | 332,330 | 1,819,636 | ||||
3,546,323 | ||||||
Russia: 0.00% | ||||||
Alrosa PJSC (Acquired 5-6-2021, cost $1,726,284) (Materials, Metals & mining) ♦†> | 1,142,750 | 0 | ||||
Magnit PJSC (Acquired 2-3-2022, cost $1,919,054) (Consumer staples, Food & staples retailing) ♦†> | 27,916 | 0 | ||||
0 | ||||||
Saudi Arabia: 3.69% | ||||||
Alinma Bank (Financials, Banks) | 397,637 | 3,968,380 | ||||
National Commercial Bank (Financials, Banks) | 134,954 | 2,133,376 | ||||
Saudi Telecom Company (Communication services, Diversified telecommunication services) | 285,828 | 3,073,133 | ||||
United Electronics Company (Consumer discretionary, Specialty retail) | 69,257 | 1,410,004 | ||||
10,584,893 | ||||||
Singapore: 0.76% | ||||||
BOC Aviation Limited (Industrials, Trading companies & distributors) 144A | 325,300 | 2,177,742 | ||||
South Africa: 3.73% | ||||||
Absa Group Limited (Financials, Banks) | 340,916 | 3,707,089 | ||||
Mr Price Group Limited (Consumer discretionary, Specialty retail) | 121,640 | 1,171,055 | ||||
Standard Bank Group Limited (Financials, Banks) | 305,903 | 2,858,564 | ||||
The Bidvest Group Limited (Industrials, Industrial conglomerates) | 257,211 | 2,975,281 | ||||
10,711,989 | ||||||
South Korea: 8.36% | ||||||
Doosan Bobcat Incorporated (Industrials, Machinery) | 78,899 | 1,855,535 | ||||
Hana Financial Group Incorporated (Financials, Banks) | 99,708 | 2,887,399 | ||||
Kangwon Land Incorporated (Consumer discretionary, Hotels, restaurants & leisure) † | 120,750 | 1,949,700 | ||||
KB Financial Group Incorporated (Financials, Banks) | 107,966 | 3,641,943 | ||||
Kia Corporation (Consumer discretionary, Automobiles) | 60,008 | 2,793,029 |
Shares | Value | |||||
South Korea: (continued) | ||||||
Samsung Electronics Company Limited (Information technology, Technology hardware, storage & peripherals) | 188,466 | $ 7,859,090 | ||||
SK Telecom Company Limited (Communication services, Wireless telecommunication services) | 86,058 | 3,026,786 | ||||
24,013,482 | ||||||
Taiwan: 11.42% | ||||||
Advantech Company Limited (Information technology, Technology hardware, storage & peripherals) | 248,000 | 2,255,070 | ||||
CTBC Financial Holding Company Limited (Financials, Banks) | 4,645,000 | 2,940,740 | ||||
Delta Electronics Incorporated (Information technology, Electronic equipment, instruments & components) | 299,000 | 2,389,402 | ||||
Hon Hai Precision Industry Company Limited (Information technology, Electronic equipment, instruments & components) | 1,169,704 | 3,720,837 | ||||
Mediatek Incorporated (Information technology, Semiconductors & semiconductor equipment) | 138,000 | 2,526,806 | ||||
President Chain Store Corporation (Consumer staples, Food & staples retailing) | 202,000 | 1,680,068 | ||||
Taiwan Semiconductor Manufacturing Company Limited (Information technology, Semiconductors & semiconductor equipment) | 1,427,000 | 17,271,472 | ||||
32,784,395 | ||||||
Thailand: 2.32% | ||||||
Bangkok Bank PCL (Financials, Banks) | 1,147,000 | 4,384,879 | ||||
Tisco Financial Group PCL (Financials, Banks) | 899,500 | 2,268,839 | ||||
6,653,718 | ||||||
United Arab Emirates: 2.40% | ||||||
Abu Dhabi Commercial Bank PJSC (Financials, Banks) | 1,453,696 | 3,740,009 | ||||
Dubai Electricity & Water Authority PJSC (Utilities, Multi-utilities) | 2,353,231 | 1,563,226 | ||||
Fertiglobe plc (Materials, Chemicals) | 1,153,712 | 1,598,757 | ||||
6,901,992 | ||||||
Total Common stocks (Cost $275,723,562) | 257,765,273 |
Dividend yield | ||||||
Preferred stocks: 6.08% | ||||||
Brazil: 1.95% | ||||||
Itau Unibanco Holding SA (Financials, Banks) | 1.20% | 507,600 | 2,987,327 | |||
Petroleo Brasil SP ADR (Energy, Oil, gas & consumable fuels) | 53.73 | 225,895 | 2,600,051 | |||
5,587,378 | ||||||
South Korea: 4.13% | ||||||
LG Chem Limited (Materials, Chemicals) | 5.01 | 21,641 | 4,390,641 | |||
Samsung Electronics Company Limited (Information technology, Technology hardware, storage & peripherals) | 4.70 | 199,726 | 7,473,338 | |||
11,863,979 | ||||||
Total Preferred stocks (Cost $20,059,010) | 17,451,357 |
Yield | Shares | Value | ||||
Short-term investments: 3.59% | ||||||
Investment companies: 3.59% | ||||||
Allspring Government Money Market Fund Select Class ♠∞ | 2.94% | 10,320,765 | $ 10,320,765 | |||
Total Short-term investments (Cost $10,320,765) | 10,320,765 | |||||
Total investments in securities (Cost $306,103,337) | 99.43% | 285,537,395 | ||||
Other assets and liabilities, net | 0.57 | 1,633,624 | ||||
Total net assets | 100.00% | $287,171,019 |
† | Non-income-earning security |
144A | The security may be resold in transactions exempt from registration, normally to qualified institutional buyers, pursuant to Rule 144A under the Securities Act of 1933. |
♦ | The security is fair valued in accordance with Allspring Funds Management's valuation procedures, as the Board-designated valuation designee. |
> | Restricted security as to resale, excluding Rule 144A securities. The Fund held restricted securities with an aggregate current value of $0 (original aggregate cost of $3,645,338), representing 0.00% of its net assets as of period end. |
♠ | The issuer of the security is an affiliated person of the Fund as defined in the Investment Company Act of 1940. |
∞ | The rate represents the 7-day annualized yield at period end. |
Abbreviations: | |
ADR | American depositary receipt |
REIT | Real estate investment trust |
Value, beginning of period | Purchases | Sales proceeds | Net realized gains (losses) | Net change in unrealized gains (losses) | Value, end of period | Shares, end of period | Income from affiliated securities | |
Short-term investments | ||||||||
Allspring Government Money Market Fund Select Class | $6,771,617 | $122,644,545 | $(119,095,397) | $0 | $0 | $10,320,765 | 10,320,765 | $100,765 |
Assets | |
Investments in unaffiliated securities, at value (cost $295,782,572) | $ 275,216,630 |
Investments in affiliated securities, at value (cost $10,320,765) | 10,320,765 |
Foreign currency, at value (cost $765,391) | 763,489 |
Receivable for investments sold | 1,718,586 |
Receivable for Fund shares sold | 883,914 |
Receivable for dividends | 649,203 |
Prepaid expenses and other assets | 47,537 |
Total assets | 289,600,124 |
Liabilities | |
Payable for investments purchased | 1,790,780 |
Management fee payable | 224,348 |
Payable for Fund shares redeemed | 181,464 |
Administration fees payable | 34,706 |
Distribution fees payable | 2,326 |
Trustees’ fees and expenses payable | 1,254 |
Accrued expenses and other liabilities | 194,227 |
Total liabilities | 2,429,105 |
Total net assets | $287,171,019 |
Net assets consist of | |
Paid-in capital | $ 354,582,885 |
Total distributable loss | (67,411,866) |
Total net assets | $287,171,019 |
Computation of net asset value and offering price per share | |
Net assets – Class A | $ 63,130,153 |
Shares outstanding – Class A1 | 6,992,253 |
Net asset value per share – Class A | $9.03 |
Maximum offering price per share – Class A2 | $9.58 |
Net assets – Class C | $ 3,395,923 |
Shares outstanding – Class C1 | 378,199 |
Net asset value per share – Class C | $8.98 |
Net assets – Class R | $ 115,800 |
Shares outstanding – Class R1 | 12,801 |
Net asset value per share – Class R | $9.05 |
Net assets – Class R6 | $ 28,296,124 |
Shares outstanding – Class R61 | 3,135,604 |
Net asset value per share – Class R6 | $9.02 |
Net assets – Administrator Class | $ 1,764,819 |
Shares outstanding – Administrator Class1 | 193,878 |
Net asset value per share – Administrator Class | $9.10 |
Net assets – Institutional Class | $ 190,468,200 |
Shares outstanding – Institutional Class1 | 21,053,893 |
Net asset value per share – Institutional Class | $9.05 |
1 | The Fund has an unlimited number of authorized shares. |
2 | Maximum offering price is computed as 100/94.25 of net asset value. On investments of $50,000 or more, the offering price is reduced. |
Investment income | |
Dividends (net of foreign withholdings taxes of $1,559,734) | $ 13,416,506 |
Income from affiliated securities | 100,765 |
Total investment income | 13,517,271 |
Expenses | |
Management fee | 3,646,906 |
Administration fees | |
Class A | 171,342 |
Class C | 11,104 |
Class R | 292 |
Class R6 | 10,808 |
Administrator Class | 2,815 |
Institutional Class | 288,747 |
Shareholder servicing fees | |
Class A | 203,789 |
Class C | 13,103 |
Class R | 348 |
Administrator Class | 3,981 |
Distribution fees | |
Class C | 39,308 |
Class R | 216 |
Custody and accounting fees | 365,233 |
Professional fees | 65,330 |
Registration fees | 79,835 |
Shareholder report expenses | 32,031 |
Trustees’ fees and expenses | 20,819 |
Other fees and expenses | 83,959 |
Total expenses | 5,039,966 |
Less: Fee waivers and/or expense reimbursements | |
Fund-level | (271,458) |
Class A | (65,273) |
Class C | (2,644) |
Class R6 | (3,603) |
Administrator Class | (866) |
Institutional Class | (155,479) |
Net expenses | 4,540,643 |
Net investment income | 8,976,628 |
Realized and unrealized gains (losses) on investments | |
Net realized losses on investments | (19,091,790) |
Net change in unrealized gains (losses) on investments (net of deferred foreign capital gain tax of $139,356) | (91,809,626) |
Net realized and unrealized gains (losses) on investments | (110,901,416) |
Net decrease in net assets resulting from operations | $(101,924,788) |
Year ended October 31, 2022 | Year ended October 31, 2021 | |||
Operations | ||||
Net investment income | $ 8,976,628 | $ 8,296,277 | ||
Net realized gains (losses) on investments | (19,091,790) | 68,320,342 | ||
Net change in unrealized gains (losses) on investments | (91,809,626) | 16,066,445 | ||
Net increase (decrease) in net assets resulting from operations | (101,924,788) | 92,683,064 | ||
Distributions to shareholders from | ||||
Net investment income and net realized gains | ||||
Class A | (2,272,980) | (1,815,822) | ||
Class C | (105,651) | (86,823) | ||
Class R | (3,642) | (2,237) | ||
Class R6 | (1,156,899) | (1,047,303) | ||
Administrator Class | (63,004) | (55,433) | ||
Institutional Class | (7,016,165) | (5,118,536) | ||
Total distributions to shareholders | (10,618,341) | (8,126,154) | ||
Capital share transactions | Shares | Shares | ||
Proceeds from shares sold | ||||
Class A | 478,576 | 5,382,246 | 1,007,163 | 12,778,224 |
Class C | 17,333 | 182,650 | 24,208 | 305,344 |
Class R | 2,890 | 32,427 | 2,727 | 35,135 |
Class R6 | 81,243 | 849,396 | 789,278 | 10,380,352 |
Administrator Class | 12,000 | 117,480 | 10,239 | 134,667 |
Institutional Class | 6,508,814 | 72,889,767 | 3,768,349 | 48,968,405 |
79,453,966 | 72,602,127 | |||
Reinvestment of distributions | ||||
Class A | 195,730 | 2,176,934 | 135,125 | 1,742,187 |
Class C | 9,051 | 101,754 | 6,508 | 84,006 |
Class R | 323 | 3,590 | 128 | 1,659 |
Class R6 | 84,772 | 942,060 | 69,164 | 885,955 |
Administrator Class | 5,280 | 59,134 | 3,863 | 49,867 |
Institutional Class | 601,019 | 6,657,509 | 375,925 | 4,850,418 |
9,940,981 | 7,614,092 | |||
Payment for shares redeemed | ||||
Class A | (1,113,452) | (12,636,350) | (1,834,330) | (23,666,313) |
Class C | (220,162) | (2,489,013) | (251,718) | (3,211,029) |
Class R | (2,050) | (22,845) | (724) | (9,313) |
Class R6 | (483,719) | (5,843,316) | (4,563,257) | (57,951,588) |
Administrator Class | (17,837) | (203,790) | (188,603) | (2,409,337) |
Institutional Class | (4,499,368) | (50,418,552) | (5,291,953) | (68,234,275) |
(71,613,866) | (155,481,855) | |||
Net increase (decrease) in net assets resulting from capital share transactions | 17,781,081 | (75,265,636) | ||
Total increase (decrease) in net assets | (94,762,048) | 9,291,274 | ||
Net assets | ||||
Beginning of period | 381,933,067 | 372,641,793 | ||
End of period | $ 287,171,019 | $ 381,933,067 |
Year ended October 31 | |||||
Class A | 2022 | 2021 | 2020 | 2019 | 2018 |
Net asset value, beginning of period | $12.67 | $10.33 | $11.21 | $10.33 | $11.68 |
Net investment income | 0.27 1 | 0.24 | 0.20 | 0.24 | 0.27 |
Net realized and unrealized gains (losses) on investments | (3.59) | 2.34 | (0.85) | 0.86 | (1.36) |
Total from investment operations | (3.32) | 2.58 | (0.65) | 1.10 | (1.09) |
Distributions to shareholders from | |||||
Net investment income | (0.32) | (0.24) | (0.23) | (0.22) | (0.26) |
Net asset value, end of period | $9.03 | $12.67 | $10.33 | $11.21 | $10.33 |
Total return2 | (26.67)% | 24.93% | (5.83)% | 10.78% | (9.47)% |
Ratios to average net assets (annualized) | |||||
Gross expenses | 1.70% | 1.63% | 1.65% | 1.69% | 1.67% |
Net expenses | 1.54% | 1.54% | 1.52% | 1.62% | 1.62% |
Net investment income | 2.34% | 1.88% | 2.10% | 2.12% | 2.30% |
Supplemental data | |||||
Portfolio turnover rate | 50% | 73% | 92% | 73% | 69% |
Net assets, end of period (000s omitted) | $63,130 | $94,152 | $83,889 | $20,017 | $19,684 |
1 | Calculated based upon average shares outstanding |
2 | Total return calculations do not include any sales charges. |
Year ended October 31 | |||||
Class C | 2022 | 2021 | 2020 | 2019 | 2018 |
Net asset value, beginning of period | $12.59 | $10.26 | $11.15 | $10.27 | $11.63 |
Net investment income | 0.18 1 | 0.11 | 0.11 | 0.15 | 0.18 |
Net realized and unrealized gains (losses) on investments | (3.56) | 2.36 | (0.85) | 0.87 | (1.35) |
Total from investment operations | (3.38) | 2.47 | (0.74) | 1.02 | (1.17) |
Distributions to shareholders from | |||||
Net investment income | (0.23) | (0.14) | (0.15) | (0.14) | (0.19) |
Net asset value, end of period | $8.98 | $12.59 | $10.26 | $11.15 | $10.27 |
Total return2 | (27.27)% | 24.00% | (6.69)% | 10.01% | (10.20)% |
Ratios to average net assets (annualized) | |||||
Gross expenses | 2.43% | 2.37% | 2.40% | 2.44% | 2.42% |
Net expenses | 2.30% | 2.30% | 2.31% | 2.37% | 2.37% |
Net investment income | 1.55% | 1.07% | 1.03% | 1.30% | 1.53% |
Supplemental data | |||||
Portfolio turnover rate | 50% | 73% | 92% | 73% | 69% |
Net assets, end of period (000s omitted) | $3,396 | $7,203 | $8,138 | $11,958 | $13,896 |
1 | Calculated based upon average shares outstanding |
2 | Total return calculations do not include any sales charges. |
Year ended October 31 | |||||
Class R | 2022 | 2021 | 2020 | 2019 | 2018 |
Net asset value, beginning of period | $12.70 | $10.36 | $11.22 | $10.34 | $11.71 |
Net investment income | 0.24 1 | 0.22 | 0.17 | 0.20 | 0.24 |
Payment from affiliate | 0.00 | 0.00 | 0.03 | 0.00 | 0.00 |
Net realized and unrealized gains (losses) on investments | (3.59) | 2.33 | (0.85) | 0.88 | (1.37) |
Total from investment operations | (3.35) | 2.55 | (0.65) | 1.08 | (1.13) |
Distributions to shareholders from | |||||
Net investment income | (0.30) | (0.21) | (0.21) | (0.20) | (0.24) |
Net asset value, end of period | $9.05 | $12.70 | $10.36 | $11.22 | $10.34 |
Total return | (26.86)% | 24.58% | (5.82)% 2 | 10.61% | (9.70)% |
Ratios to average net assets (annualized) | |||||
Gross expenses | 1.85% | 1.85% | 1.84% | 1.93% | 1.94% |
Net expenses | 1.77% | 1.80% | 1.78% | 1.87% | 1.87% |
Net investment income | 2.08% | 1.66% | 1.65% | 1.97% | 2.64% |
Supplemental data | |||||
Portfolio turnover rate | 50% | 73% | 92% | 73% | 69% |
Net assets, end of period (000s omitted) | $116 | $148 | $98 | $95 | $92 |
1 | Calculated based upon average shares outstanding |
2 | During the year ended October 31, 2020, the Fund received a payment from an affiliate which had a 0.29% impact on the total return. |
Year ended October 31 | |||||
Class R6 | 2022 | 2021 | 2020 | 2019 | 2018 |
Net asset value, beginning of period | $12.67 | $10.33 | $11.23 | $10.34 | $11.69 |
Net investment income | 0.31 1 | 0.26 | 0.24 | 0.31 1 | 0.32 |
Net realized and unrealized gains (losses) on investments | (3.59) | 2.37 | (0.87) | 0.85 | (1.35) |
Total from investment operations | (3.28) | 2.63 | (0.63) | 1.16 | (1.03) |
Distributions to shareholders from | |||||
Net investment income | (0.37) | (0.29) | (0.27) | (0.27) | (0.32) |
Net asset value, end of period | $9.02 | $12.67 | $10.33 | $11.23 | $10.34 |
Total return | (26.49)% | 25.44% | (5.60)% | 11.34% | (9.05)% |
Ratios to average net assets (annualized) | |||||
Gross expenses | 1.26% | 1.19% | 1.22% | 1.26% | 1.24% |
Net expenses | 1.17% | 1.15% | 1.16% | 1.17% | 1.17% |
Net investment income | 2.72% | 2.00% | 2.27% | 2.81% | 2.58% |
Supplemental data | |||||
Portfolio turnover rate | 50% | 73% | 92% | 73% | 69% |
Net assets, end of period (000s omitted) | $28,296 | $43,761 | $73,969 | $83,481 | $36,597 |
1 | Calculated based upon average shares outstanding |
Year ended October 31 | |||||
Administrator Class | 2022 | 2021 | 2020 | 2019 | 2018 |
Net asset value, beginning of period | $12.78 | $10.41 | $11.31 | $10.41 | $11.76 |
Net investment income | 0.28 1 | 0.22 1 | 0.20 1 | 0.25 1 | 0.22 1 |
Net realized and unrealized gains (losses) on investments | (3.63) | 2.40 | (0.87) | 0.89 | (1.29) |
Total from investment operations | (3.35) | 2.62 | (0.67) | 1.14 | (1.07) |
Distributions to shareholders from | |||||
Net investment income | (0.33) | (0.25) | (0.23) | (0.24) | (0.28) |
Net asset value, end of period | $9.10 | $12.78 | $10.41 | $11.31 | $10.41 |
Total return | (26.65)% | 25.03% | (5.89)% | 11.01% | (9.29)% |
Ratios to average net assets (annualized) | |||||
Gross expenses | 1.55% | 1.52% | 1.56% | 1.61% | 1.57% |
Net expenses | 1.43% | 1.45% | 1.45% | 1.45% | 1.45% |
Net investment income | 2.44% | 1.75% | 1.92% | 2.24% | 1.86% |
Supplemental data | |||||
Portfolio turnover rate | 50% | 73% | 92% | 73% | 69% |
Net assets, end of period (000s omitted) | $1,765 | $2,484 | $3,842 | $4,686 | $4,758 |
1 | Calculated based upon average shares outstanding |
Year ended October 31 | |||||
Institutional Class | 2022 | 2021 | 2020 | 2019 | 2018 |
Net asset value, beginning of period | $12.70 | $10.35 | $11.24 | $10.35 | $11.70 |
Net investment income | 0.30 1 | 0.28 | 0.19 1 | 0.28 | 0.32 |
Net realized and unrealized gains (losses) on investments | (3.60) | 2.35 | (0.82) | 0.87 | (1.36) |
Total from investment operations | (3.30) | 2.63 | (0.63) | 1.15 | (1.04) |
Distributions to shareholders from | |||||
Net investment income | (0.35) | (0.28) | (0.26) | (0.26) | (0.31) |
Net asset value, end of period | $9.05 | $12.70 | $10.35 | $11.24 | $10.35 |
Total return | (26.44)% | 25.27% | (5.63)% | 11.24% | (9.11)% |
Ratios to average net assets (annualized) | |||||
Gross expenses | 1.37% | 1.30% | 1.33% | 1.36% | 1.34% |
Net expenses | 1.22% | 1.22% | 1.22% | 1.22% | 1.22% |
Net investment income | 2.68% | 2.21% | 1.85% | 2.54% | 2.73% |
Supplemental data | |||||
Portfolio turnover rate | 50% | 73% | 92% | 73% | 69% |
Net assets, end of period (000s omitted) | $190,468 | $234,185 | $202,705 | $471,068 | $452,650 |
1 | Calculated based upon average shares outstanding |
Gross unrealized gains | $ 31,845,402 |
Gross unrealized losses | (57,252,180) |
Net unrealized losses | $(25,406,778) |
■ | Level 1 – quoted prices in active markets for identical securities |
■ | Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.) |
■ | Level 3 – significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments) |
Quoted prices (Level 1) | Other significant observable inputs (Level 2) | Significant unobservable inputs (Level 3) | Total | |
Assets | ||||
Investments in: | ||||
Common stocks | ||||
Brazil | $ 14,342,315 | $ 0 | $0 | $ 14,342,315 |
Chile | 2,831,346 | 0 | 0 | 2,831,346 |
China | 67,275,068 | 0 | 0 | 67,275,068 |
Colombia | 2,323,795 | 0 | 0 | 2,323,795 |
Hong Kong | 4,104,915 | 0 | 0 | 4,104,915 |
India | 39,698,561 | 0 | 0 | 39,698,561 |
Indonesia | 8,398,583 | 0 | 0 | 8,398,583 |
Malaysia | 4,509,735 | 0 | 0 | 4,509,735 |
Mexico | 10,465,487 | 0 | 0 | 10,465,487 |
Panama | 2,745,519 | 0 | 0 | 2,745,519 |
Peru | 2,169,638 | 0 | 0 | 2,169,638 |
Philippines | 0 | 1,525,777 | 0 | 1,525,777 |
Qatar | 3,546,323 | 0 | 0 | 3,546,323 |
Russia | 0 | 0 | 0 | 0 |
Saudi Arabia | 10,584,893 | 0 | 0 | 10,584,893 |
Singapore | 2,177,742 | 0 | 0 | 2,177,742 |
South Africa | 10,711,989 | 0 | 0 | 10,711,989 |
South Korea | 24,013,482 | 0 | 0 | 24,013,482 |
Taiwan | 32,784,395 | 0 | 0 | 32,784,395 |
Thailand | 6,653,718 | 0 | 0 | 6,653,718 |
United Arab Emirates | 6,901,992 | 0 | 0 | 6,901,992 |
Preferred stocks | ||||
Brazil | 5,587,378 | 0 | 0 | 5,587,378 |
South Korea | 11,863,979 | 0 | 0 | 11,863,979 |
Short-term investments | ||||
Investment companies | 10,320,765 | 0 | 0 | 10,320,765 |
Total assets | $284,011,618 | $1,525,777 | $0 | $285,537,395 |
Average daily net assets | Management fee |
First $1 billion | 1.050% |
Next $1 billion | 1.025 |
Next $2 billion | 1.000 |
Next $1 billion | 0.975 |
Next $3 billion | 0.965 |
Next $2 billion | 0.955 |
Over $10 billion | 0.945 |
Class-level administration fee | |
Class A | 0.21% |
Class C | 0.21 |
Class R | 0.21 |
Class R6 | 0.03 |
Administrator Class | 0.13 |
Institutional Class | 0.13 |
Expense ratio caps | |
Class A | 1.55% |
Class C | 2.30 |
Class R | 1.80 |
Class R6 | 1.17 |
Administrator Class | 1.45 |
Institutional Class | 1.22 |
Undistributed ordinary income | Unrealized losses | Capital loss carryforward |
$362,541 | $(25,442,144) | $(42,332,264) |
Allspring Funds Trust:
![](https://capedge.com/proxy/N-CSR/0001193125-23-001376/g419738img01e96c3d7.jpg)
Name and year of birth | Position held and length of service* | Principal occupations during past five years or longer | Current other public company or investment company directorships |
William R. Ebsworth (Born 1957) | Trustee, since 2015 | Retired. From 1984 to 2013, equities analyst, portfolio manager, research director and chief investment officer at Fidelity Management and Research Company in Boston, Tokyo, and Hong Kong, and retired in 2013 as Chief Investment Officer of Fidelity Strategic Advisers, Inc. where he led a team of investment professionals managing client assets. Prior thereto, Board member of Hong Kong Securities Clearing Co., Hong Kong Options Clearing Corp., the Thailand International Fund, Ltd., Fidelity Investments Life Insurance Company, and Empire Fidelity Investments Life Insurance Company. Audit Committee Chair and Investment Committee Chair of the Vincent Memorial Hospital Endowment (non-profit organization). Mr. Ebsworth is a CFA® charterholder. | N/A |
Jane A. Freeman (Born 1953) | Trustee, since 2015; Chair Liaison, since 2018 | Retired. From 2012 to 2014 and 1999 to 2008, Chief Financial Officer of Scientific Learning Corporation. From 2008 to 2012, Ms. Freeman provided consulting services related to strategic business projects. Prior to 1999, Portfolio Manager at Rockefeller & Co. and Scudder, Stevens & Clark. Board member of the Harding Loevner Funds from 1996 to 2014, serving as both Lead Independent Director and chair of the Audit Committee. Board member of the Russell Exchange Traded Funds Trust from 2011 to 2012 and the chair of the Audit Committee. Ms. Freeman is also an inactive Chartered Financial Analyst. | N/A |
Isaiah Harris, Jr. (Born 1952) | Trustee, since 2009; Audit Committee Chair, since 2019 | Retired. Chairman of the Board of CIGNA Corporation from 2009 to 2021, and Director from 2005 to 2008. From 2003 to 2011, Director of Deluxe Corporation. Prior thereto, President and CEO of BellSouth Advertising and Publishing Corp. from 2005 to 2007, President and CEO of BellSouth Enterprises from 2004 to 2005 and President of BellSouth Consumer Services from 2000 to 2003. Emeritus member of the Iowa State University Foundation Board of Governors. Emeritus Member of the Advisory Board of Iowa State University School of Business. Advisory Board Member, Palm Harbor Academy (private school). Advisory Board Member, Fellowship of Christian Athletes. Mr. Harris is a certified public accountant (inactive status). | N/A |
David F. Larcker (Born 1950) | Trustee, since 2009 | James Irvin Miller Professor of Accounting at the Graduate School of Business (Emeritus), Stanford University, Director of the Corporate Governance Research Initiative and Senior Faculty of The Rock Center for Corporate Governance since 2006. From 2005 to 2008, Professor of Accounting at the Graduate School of Business, Stanford University. Prior thereto, Ernst & Young Professor of Accounting at The Wharton School, University of Pennsylvania from 1985 to 2005. | N/A |
Name and year of birth | Position held and length of service* | Principal occupations during past five years or longer | Current other public company or investment company directorships |
Olivia S. Mitchell (Born 1953) | Trustee, since 2006; Nominating and Governance Committee Chair, since 2018 | International Foundation of Employee Benefit Plans Professor since 1993, Wharton School of the University of Pennsylvania. Director of Wharton’s Pension Research Council and Boettner Center on Pensions & Retirement Research, and Research Associate at the National Bureau of Economic Research. Previously taught at Cornell University from 1978 to 1993. | N/A |
Timothy J. Penny (Born 1951) | Trustee, since 1996; Chair, since 2018 | President and Chief Executive Officer of Southern Minnesota Initiative Foundation, a non-profit organization, since 2007. Vice Chair of the Economic Club of Minnesota, since 2007. Co-Chair of the Committee for a Responsible Federal Budget, since 1995. Member of the Board of Trustees of NorthStar Education Finance, Inc., a non-profit organization, since 2007. Senior Fellow of the University of Minnesota Humphrey Institute from 1995 to 2017. | N/A |
James G. Polisson (Born 1959) | Trustee, since 2018 | Retired. Chief Marketing Officer, Source (ETF) UK Services, Ltd, from 2015 to 2017. From 2012 to 2015, Principal of The Polisson Group, LLC, a management consulting, corporate advisory and principal investing company. Chief Executive Officer and Managing Director at Russell Investments, Global Exchange Traded Funds from 2010 to 2012. Managing Director of Barclays Global Investors from 1998 to 2010 and Global Chief Marketing Officer for iShares and Barclays Global Investors from 2000 to 2010. Trustee of the San Francisco Mechanics’ Institute, a non-profit organization, from 2013 to 2015. Board member of the Russell Exchange Traded Fund Trust from 2011 to 2012. Director of Barclays Global Investors Holdings Deutschland GmbH from 2006 to 2009. Mr. Polisson is an attorney and has a retired status with the Massachusetts and District of Columbia Bar Associations. | N/A |
Pamela Wheelock (Born 1959) | Trustee, since January 2020; previously Trustee from January 2018 to July 2019 | Retired. Executive and Senior Financial leadership positions in the public, private and nonprofit sectors. Interim President and CEO, McKnight Foundation, 2020. Interim Commissioner, Minnesota Department of Human Services, 2019. Chief Operating Officer, Twin Cities Habitat for Humanity, 2017-2019. Vice President for University Services, University of Minnesota, 2012-2016. Interim President and CEO, Blue Cross and Blue Shield of Minnesota, 2011-2012. Executive Vice-President and Chief Financial Officer, Minnesota Wild, 2002-2008. Commissioner, Minnesota Department of Finance, 1999-2002. Chair of the Board of Directors of Destination Medical Center Corporation. Board member of the Minnesota Wild Foundation. | N/A |
Name and year of birth | Position held and length of service | Principal occupations during past five years or longer |
Andrew Owen (Born 1960) | President, since 2017 | President and Chief Executive Officer of Allspring Funds Management, LLC since 2017 and Head of Global Fund Governance of Allspring Global Investments since 2022. Prior thereto, co-president of Galliard Capital Management, LLC, an affiliate of Allspring Funds Management, LLC, from 2019 to 2022 and Head of Affiliated Managers, Allspring Global Investments, from 2014 to 2019 and Executive Vice President responsible for marketing, investments and product development for Allspring Funds Management, LLC, from 2009 to 2014. |
Jeremy DePalma (Born 1974) | Treasurer, since 2012 (for certain funds in the Fund Complex); since 2021 (for the remaining funds in the Fund Complex) | Senior Vice President of Allspring Funds Management, LLC since 2009. Senior Vice President of Evergreen Investment Management Company, LLC from 2008 to 2010 and head of the Fund Reporting and Control Team within Fund Administration from 2005 to 2010. |
Christopher Baker (Born 1976) | Chief Compliance Officer, since 2022 | Global Chief Compliance Officer for Allspring Global Investments since 2022. Prior thereto, Chief Compliance Officer for State Street Global Advisors from 2018 to 2021. Senior Compliance Officer for the State Street divisions of Alternative Investment Solutions, Sector Solutions, and Global Marketing from 2015 to 2018. From 2010 to 2015 Vice President, Global Head of Investment and Marketing Compliance for State Street Global Advisors. |
Matthew Prasse (Born 1983) | Chief Legal Officer, since 2022; Secretary, since 2021 | Senior Counsel of the Allspring Legal Department since 2021. Senior Counsel of the Wells Fargo Legal Department from 2018 to 2021. Previously, Counsel for Barings LLC from 2015 to 2018. Prior to joining Barings, Associate at Morgan, Lewis & Bockius LLP from 2008 to 2015. |
![](https://capedge.com/proxy/N-CSR/0001193125-23-001376/g419738imgbe1bbf2c1.jpg)
P.O. Box 219967
Kansas City, MO 64121-9967
![](https://capedge.com/proxy/N-CSR/0001193125-23-001376/g419738imgf69710298.jpg)
1-800-222-8222 or visit the Fund's website at allspringglobal.com. Read the prospectus carefully before you invest or send money.
A262/AR262 10-22
![](https://capedge.com/proxy/N-CSR/0001193125-23-001376/g417982img9be358b31.jpg)
Special Global Small Cap Fund
2 | |
6 | |
11 | |
12 | |
Financial statements | |
16 | |
17 | |
18 | |
19 | |
23 | |
30 | |
31 |
![](https://capedge.com/proxy/N-CSR/0001193125-23-001376/g417982imgd66aea532.gif)
1 | The S&P 500 Index consists of 500 stocks chosen for market size, liquidity, and industry group representation. It is a market-value-weighted index with each stock's weight in the index proportionate to its market value. You cannot invest directly in an index. |
2 | The Morgan Stanley Capital International (MSCI) All Country World Index (ACWI) ex USA Index (Net) is a free-float-adjusted market-capitalization-weighted index that is designed to measure the equity market performance of developed and emerging markets, excluding the U.S. Source: MSCI. MSCI makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein. The MSCI data may not be further redistributed or used as a basis for other indexes or any securities or financial products. This report is not approved, reviewed, or produced by MSCI. You cannot invest directly in an index. |
3 | The MSCI Emerging Markets (EM) Index (Net) (USD) is a free-float-adjusted market-capitalization-weighted index that is designed to measure equity market performance of emerging markets. You cannot invest directly in an index. |
4 | The Bloomberg U.S. Aggregate Bond Index is a broad-based benchmark that measures the investment-grade, U.S.-dollar-denominated, fixed-rate taxable bond market, including Treasuries, government-related and corporate securities, mortgage-backed securities (agency fixed-rate and hybrid adjustable-rate mortgage pass-throughs), asset-backed securities, and commercial mortgage-backed securities. You cannot invest directly in an index. |
5 | The Bloomberg Global Aggregate ex-USD Index (unhedged) is an unmanaged index that provides a broad-based measure of the global investment-grade fixed-income markets excluding the U.S.-dollar-denominated debt market. You cannot invest directly in an index. |
6 | The Bloomberg Municipal Bond Index is an unmanaged index composed of long-term tax-exempt bonds with a minimum credit rating of Baa. You cannot invest directly in an index. |
7 | The ICE BofA U.S. High Yield Index is a market-capitalization-weighted index of domestic and Yankee high-yield bonds. The index tracks the performance of high-yield securities traded in the U.S. bond market. You cannot invest directly in an index. Copyright 2022. ICE Data Indices, LLC. All rights reserved. |
8 | The Consumer Price Index (CPI) is a measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services. You cannot invest directly in an index. |
1 | The MSCI ACWI (Net) is a free-float-adjusted market-capitalization-weighted index that is designed to measure the equity market performance of developed and emerging markets. You cannot invest directly in an index. |
![](https://capedge.com/proxy/N-CSR/0001193125-23-001376/g417982img1e7f3e853.jpg)
President
Allspring Funds
Investment objective | The Fund seeks long-term capital appreciation. |
Manager | Allspring Funds Management, LLC |
Subadviser | Allspring Global Investments, LLC |
Portfolio managers | Stephen Giggie, CFA®‡, Oleg Makhorine, Brian Martin, CFA®‡, James M. Tringas, CFA®‡, Bryant VanCronkhite, CFA®‡, CPA |
Average annual total returns (%) as of October 31, 2022 | |||||||||||
Including sales charge | Excluding sales charge | Expense ratios1 (%) | |||||||||
Inception date | 1 year | 5 year | 10 year | 1 year | 5 year | 10 year | Gross | Net 2 | |||
Class A (EKGAX) | 3-16-1988 | -31.65 | 0.78 | 6.87 | -27.48 | 1.99 | 7.51 | 1.50 | 1.50 | ||
Class C (EKGCX) | 2-1-1993 | -29.04 | 1.27 | 6.89 | -28.04 | 1.27 | 6.89 | 2.25 | 2.25 | ||
Administrator Class (EKGYX) | 1-13-1997 | – | – | – | -27.41 | 2.12 | 7.66 | 1.42 | 1.41 | ||
Institutional Class (EKGIX) | 7-30-2010 | – | – | – | -27.20 | 2.37 | 7.93 | 1.17 | 1.16 | ||
MSCI World Small Cap Index (Net)3 | – | – | – | – | -21.81 | 3.70 | 8.40 | – | – | ||
S&P Developed SmallCap Index4 | – | – | – | – | -21.59 | 3.77 | 8.55 | – | – |
1 | Reflects the expense ratios as stated in the most recent prospectuses, which include the impact of 0.01% in acquired fund fees and expenses. The expense ratios shown are subject to change and may differ from the annualized expense ratios shown in the financial highlights of this report, which do not include acquired fund fees and expenses. |
2 | The manager has contractually committed through February 28, 2023, to waive fees and/or reimburse expenses to the extent necessary to cap total annual fund operating expenses after fee waivers at 1.55% for Class A, 2.30% for Class C, 1.40% for Administrator Class, and 1.15% for Institutional Class. Brokerage commissions, stamp duty fees, interest, taxes, acquired fund fees and expenses (if any), and extraordinary expenses are excluded from the expense caps. Prior to or after the commitment expiration date, the caps may be increased or the commitment to maintain the caps may be terminated only with the approval of the Board of Trustees. Without these caps, the Fund’s returns would have been lower. The expense ratio paid by an investor is the net expense ratio (the total annual fund operating expenses after fee waivers) as stated in the prospectuses. |
3 | The Morgan Stanley Capital International (MSCI) World Small Cap Index (Net) captures small cap representation across 23 developed markets countries. The index covers approximately 14% of the free float-adjusted market capitalization in each country. You cannot invest directly in an index. Effective August 18, 2022, the Fund changed its primary benchmark from the S&P Developed SmallCap Index to the MSCI World Small Cap Index (Net) as the Fund believes that the MSCI World Small Cap Index (Net) is more widely used as a performance benchmark by similarly managed funds in the industry. The Fund will retain the S&P Developed SmallCap Index as a secondary benchmark. |
4 | The S&P Developed SmallCap Index is a free-float-adjusted market-capitalization-weighted index designed to measure the equity market performance of small-capitalization companies located in developed markets. The index is composed of companies within the bottom 15% of the cumulative market capitalization in developed markets. The index covers all publicly listed equities with float-adjusted market values of U.S. $100 million or more and annual dollar value traded of at least U.S. $50 million in all included countries. You cannot invest directly in an index. |
‡ | CFA® and Chartered Financial Analyst® are trademarks owned by CFA Institute. |
![](https://capedge.com/proxy/N-CSR/0001193125-23-001376/g417982imgf2349b1d4.gif)
1 | The chart compares the performance of Class A shares for the most recent ten years with the MSCI World Small Cap Index (Net) and S&P Developed SmallCap Index. The chart assumes a hypothetical investment of $10,000 in Class A shares and reflects all operating expenses and assumes the maximum initial sales charge of 5.75%. |
■ | The Fund underperformed its benchmark, the MSCI World Small Cap Index (Net), for the 12-month period that ended October 31, 2022. |
■ | Stock selection in the consumer discretionary and communication services sectors and an underweight to the energy sector detracted from relative performance. |
■ | Security selection in the U.S. and the U.K. detracted. |
■ | Stock selection in the health care and materials sectors contributed to relative performance. |
■ | Regionally, security selection in Japan and Canada contributed to performance. |
Ten largest holdings (%) as of October 31, 20221 | |
Innospec Incorporated | 4.31 |
Novanta Incorporated | 3.23 |
CSW Industrials Incorporated | 3.07 |
Gibraltar Industries Incorporated | 2.99 |
Globus Medical Incorporated Class A | 2.76 |
Ansell Limited | 2.72 |
Progress Software Corporation | 2.20 |
The Hanover Insurance Group Incorporated | 2.20 |
Denny’s Corporation | 2.13 |
Alten SA | 2.06 |
1 | Figures represent the percentage of the Fund's net assets. Holdings are subject to change and may have changed since the date specified. |
Sector allocation as of October 31, 20221 |
![](https://capedge.com/proxy/N-CSR/0001193125-23-001376/g417982imgcd5edf625.jpg)
1 | Figures represent the percentage of the Fund's long-term investments. Allocations are subject to change and may have changed since the date specified. |
Geographic allocation as of October 31, 20221 |
![](https://capedge.com/proxy/N-CSR/0001193125-23-001376/g417982imgf6641f176.jpg)
1 | Figures represent the percentage of the Fund's long-term investments. Allocations are subject to change and may have changed since the date specified. |
Beginning account value 5-1-2022 | Ending account value 10-31-2022 | Expenses paid during the period1 | Annualized net expense ratio | |
Class A | ||||
Actual | $1,000.00 | $ 899.54 | $ 7.42 | 1.55% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,017.39 | $ 7.88 | 1.55% |
Class C | ||||
Actual | $1,000.00 | $ 896.09 | $10.99 | 2.30% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,013.61 | $11.67 | 2.30% |
Administrator Class | ||||
Actual | $1,000.00 | $ 900.20 | $ 6.66 | 1.39% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,018.20 | $ 7.07 | 1.39% |
Institutional Class | ||||
Actual | $1,000.00 | $ 901.18 | $ 5.51 | 1.15% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,019.41 | $ 5.85 | 1.15% |
Shares | Value | |||||
Common stocks: 97.24% | ||||||
Australia: 4.00% | ||||||
Ansell Limited (Health care, Health care equipment & supplies) | 229,276 | $ 4,140,110 | ||||
Bravura Solutions Limited (Information technology, Software) | 621,429 | 484,946 | ||||
Cettire Limited (Consumer discretionary, Internet & direct marketing retail) †« | 736,458 | 765,497 | ||||
Inghams Group Limited (Consumer staples, Food products) | 432,109 | 699,288 | ||||
6,089,841 | ||||||
Belgium: 1.44% | ||||||
Barco NV (Information technology, Electronic equipment, instruments & components) | 101,346 | 2,189,392 | ||||
Canada: 4.81% | ||||||
ATS Automation Tooling Systems (Industrials, Machinery) † | 23,100 | 730,803 | ||||
Canadian Western Bank (Financials, Banks) | 8,500 | 147,869 | ||||
Novanta Incorporated (Information technology, Electronic equipment, instruments & components) † | 34,802 | 4,921,003 | ||||
Primo Water Corporation (Consumer staples, Beverages) | 104,235 | 1,519,512 | ||||
7,319,187 | ||||||
Denmark: 0.52% | ||||||
SimCorp AS (Information technology, Software) | 13,299 | 794,307 | ||||
France: 2.52% | ||||||
Alten SA (Information technology, IT services) | 26,737 | 3,125,821 | ||||
M6 Métropole Télévision SA (Communication services, Media) | 67,667 | 700,149 | ||||
3,825,970 | ||||||
Germany: 3.43% | ||||||
Cancom SE (Information technology, IT services) | 34,055 | 842,717 | ||||
Gerresheimer AG (Health care, Life sciences tools & services) | 25,765 | 1,476,811 | ||||
Krones AG (Industrials, Machinery) | 14,731 | 1,364,804 | ||||
MYT Netherlands Parent BV ADR (Consumer discretionary, Specialty retail) †« | 53,757 | 614,443 | ||||
TAG Immobilien AG (Real estate, Real estate management & development) | 146,111 | 916,181 | ||||
5,214,956 | ||||||
Ireland: 0.59% | ||||||
Irish Residential Properties REIT plc (Real estate, Equity REITs) | 828,492 | 895,720 | ||||
Italy: 2.01% | ||||||
De'Longhi SpA (Consumer discretionary, Household durables) | 30,921 | 533,842 | ||||
GVS SpA (Industrials, Machinery) † | 254,648 | 1,306,094 | ||||
Interpump Group SpA (Industrials, Machinery) | 31,250 | 1,209,988 | ||||
3,049,924 | ||||||
Japan: 9.07% | ||||||
Aeon Delight Company Limited (Industrials, Commercial services & supplies) | 77,800 | 1,556,052 | ||||
Daiseki Company Limited (Industrials, Commercial services & supplies) | 36,120 | 1,117,401 | ||||
DTS Corporation (Information technology, IT services) | 103,600 | 2,466,418 | ||||
Fuji Seal International Incorporated (Materials, Containers & packaging) | 97,200 | 1,139,377 | ||||
Horiba Limited (Information technology, Electronic equipment, instruments & components) | 17,100 | 703,803 | ||||
Meitec Corporation (Industrials, Professional services) | 141,800 | 2,392,657 |
Shares | Value | |||||
Japan: (continued) | ||||||
Nihon Parkerizing Company Limited (Materials, Chemicals) | 220,200 | $ 1,433,495 | ||||
Orix JREIT Incorporated (Real estate, Equity REITs) | 1,564 | 2,098,376 | ||||
Taikisha Limited (Industrials, Construction & engineering) | 37,600 | 887,562 | ||||
13,795,141 | ||||||
Luxembourg: 0.32% | ||||||
Majorel Group Luxembourg SA (Information technology, IT services) | 23,865 | 488,201 | ||||
Netherlands: 0.23% | ||||||
TKH Group NV (Industrials, Electrical equipment) | 9,882 | 350,205 | ||||
Norway: 1.08% | ||||||
Atea ASA (Information technology, IT services) | 70,628 | 785,348 | ||||
Elopak ASA (Materials, Containers & packaging) | 381,463 | 860,444 | ||||
1,645,792 | ||||||
Spain: 2.57% | ||||||
Vidrala SA (Materials, Containers & packaging) | 11,831 | 903,790 | ||||
Viscofan SA (Consumer staples, Food products) | 50,448 | 3,003,777 | ||||
3,907,567 | ||||||
Sweden: 1.63% | ||||||
Hexpol AB (Materials, Chemicals) | 91,544 | 903,733 | ||||
Loomis AB (Industrials, Commercial services & supplies) | 56,267 | 1,572,655 | ||||
2,476,388 | ||||||
Switzerland: 1.19% | ||||||
Bossard Holding AG (Industrials, Trading companies & distributors) | 4,686 | 930,321 | ||||
Bucher Industries AG (Industrials, Machinery) | 2,620 | 882,796 | ||||
1,813,117 | ||||||
United Kingdom: 6.85% | ||||||
Britvic plc (Consumer staples, Beverages) | 279,805 | 2,334,404 | ||||
Domino's Pizza Group plc (Consumer discretionary, Hotels, restaurants & leisure) | 368,705 | 956,443 | ||||
Elementis plc (Materials, Chemicals) † | 641,137 | 680,111 | ||||
Lancashire Holdings Limited (Financials, Insurance) | 172,726 | 980,903 | ||||
Morgan Advanced Materials plc (Industrials, Machinery) | 123,848 | 349,391 | ||||
Nomad Foods Limited (Consumer staples, Food products) † | 40,237 | 619,650 | ||||
S4 Capital plc (Communication services, Media) † | 413,790 | 833,757 | ||||
Samarkand Group plc (Information technology, IT services) ♦† | 660,000 | 416,288 | ||||
Spectris plc (Information technology, Electronic equipment, instruments & components) | 85,106 | 2,947,505 | ||||
THG Holding plc (Consumer discretionary, Internet & direct marketing retail) †« | 489,454 | 298,615 | ||||
10,417,067 | ||||||
United States: 54.98% | ||||||
Ambarella Incorporated (Information technology, Semiconductors & semiconductor equipment) † | 22,000 | 1,204,060 | ||||
Aris Water Solutions Incorporated Class A (Industrials, Commercial services & supplies) | 75,300 | 1,282,359 | ||||
Azenta Incorporated (Health care, Life sciences tools & services) | 61,300 | 2,721,720 | ||||
Balchem Corporation (Materials, Chemicals) | 10,931 | 1,528,154 | ||||
Blackbaud Incorporated (Information technology, Software) † | 33,000 | 1,805,100 |
Shares | Value | |||||
United States: (continued) | ||||||
Brady Corporation Class A (Industrials, Commercial services & supplies) | 18,300 | $ 837,225 | ||||
Cactus Incorporated Class A (Energy, Energy equipment & services) | 17,000 | 879,240 | ||||
CBIZ Incorporated (Industrials, Professional services) † | 32,454 | 1,611,017 | ||||
CSW Industrials Incorporated (Industrials, Building products) | 36,263 | 4,675,026 | ||||
CyberArk Software Limited (Information technology, Software) † | 11,500 | 1,804,466 | ||||
Denny’s Corporation (Consumer discretionary, Hotels, restaurants & leisure) † | 285,554 | 3,235,327 | ||||
E2open Parent Holding Incorporated (Information technology, Software) † | 221,090 | 1,288,955 | ||||
Enovis Corporation (Health care, Health care equipment & supplies) | 50,700 | 2,507,115 | ||||
EnPro Industries Incorporated (Industrials, Machinery) | 27,400 | 2,918,100 | ||||
FARO Technologies Incorporated (Information technology, Electronic equipment, instruments & components) † | 60,240 | 1,759,610 | ||||
FormFactor Incorporated (Information technology, Semiconductors & semiconductor equipment) † | 46,600 | 941,786 | ||||
Gibraltar Industries Incorporated (Industrials, Building products) † | 89,137 | 4,553,118 | ||||
Global Blue Group Holding AG (Information technology, IT services) | 225,000 | 942,750 | ||||
Globus Medical Incorporated Class A (Health care, Health care equipment & supplies) † | 62,600 | 4,194,200 | ||||
Helen of Troy Limited (Consumer discretionary, Household durables) † | 21,600 | 2,043,792 | ||||
Holley Incorporated (Consumer discretionary, Auto components) †« | 348,582 | 1,387,356 | ||||
IAA Incorporated (Industrials, Commercial services & supplies) † | 51,200 | 1,942,016 | ||||
ICU Medical Incorporated (Health care, Health care equipment & supplies) † | 10,640 | 1,579,082 | ||||
Innospec Incorporated (Materials, Chemicals) | 65,520 | 6,551,345 | ||||
J & J Snack Foods Corporation (Consumer staples, Food products) | 12,300 | 1,815,603 | ||||
Mayville Engineering Company Incorporated (Industrials, Machinery) † | 155,300 | 1,032,745 | ||||
Progress Software Corporation (Information technology, Software) | 65,600 | 3,347,568 | ||||
Quanex Building Products Corporation (Industrials, Building products) | 90,571 | 2,007,053 | ||||
Quidlelothro Corporation (Health care, Health care equipment & supplies) † | 16,600 | 1,491,012 | ||||
Southwestern Energy Company (Energy, Oil, gas & consumable fuels) † | 280,500 | 1,943,865 | ||||
Spectrum Brands Holdings Incorporated (Consumer staples, Household products) | 13,700 | 632,118 | ||||
Standex International Corporation (Industrials, Machinery) | 14,851 | 1,470,992 | ||||
Stepan Company (Materials, Chemicals) | 25,100 | 2,621,444 | ||||
The AZEK Company Incorporated (Industrials, Building products) † | 84,400 | 1,477,844 | ||||
The Hanover Insurance Group Incorporated (Financials, Insurance) | 22,800 | 3,339,972 | ||||
The Wendy's Company (Consumer discretionary, Hotels, restaurants & leisure) | 74,500 | 1,548,110 | ||||
Varex Imaging Corporation (Health care, Health care equipment & supplies) † | 116,789 | 2,582,205 | ||||
Vivid Seats Incorporated Class A (Consumer discretionary, Internet & direct marketing retail) | 174,242 | 1,428,784 | ||||
Ziff Davis Incorporated (Communication services, Interactive media & services) | 34,700 | 2,685,433 | ||||
83,617,667 | ||||||
Total Common stocks (Cost $146,450,315) | 147,890,442 |
Yield | Shares | Value | ||||
Short-term investments: 3.71% | ||||||
Investment companies: 3.71% | ||||||
Allspring Government Money Market Fund Select Class ♠∞ | 2.94% | 3,845,272 | $ 3,845,272 | |||
Securities Lending Cash Investments LLC ♠∩∞ | 3.14 | 1,789,962 | 1,789,962 | |||
Total Short-term investments (Cost $5,635,234) | 5,635,234 | |||||
Total investments in securities (Cost $152,085,549) | 100.95% | 153,525,676 | ||||
Other assets and liabilities, net | (0.95) | (1,438,579) | ||||
Total net assets | 100.00% | $152,087,097 |
† | Non-income-earning security |
♦ | The security is fair valued in accordance with Allspring Funds Management's valuation procedures, as the Board-designated valuation designee. |
« | All or a portion of this security is on loan. |
♠ | The issuer of the security is an affiliated person of the Fund as defined in the Investment Company Act of 1940. |
∩ | The investment is a non-registered investment company purchased with cash collateral received from securities on loan. |
∞ | The rate represents the 7-day annualized yield at period end. |
Abbreviations: | |
ADR | American depositary receipt |
REIT | Real estate investment trust |
Value, beginning of period | Purchases | Sales proceeds | Net realized gains (losses) | Net change in unrealized gains (losses) | Value, end of period | Shares, end of period | Income from affiliated securities | |||
Short-term investments | ||||||||||
Allspring Government Money Market Fund Select Class | $10,069,189 | $79,553,981 | $(85,777,898) | $0 | $0 | $ 3,845,272 | 3,845,272 | $ 26,836 | ||
Securities Lending Cash Investments LLC | 10,055,941 | 75,120,508 | (83,386,487) | 0 | 0 | 1,789,962 | 1,789,962 | 66,492 # | ||
$0 | $0 | $5,635,234 | $93,328 |
# | Amount shown represents income before fees and rebates. |
Assets | |
Investments in unaffiliated securities (including $1,686,126 of securities loaned), at value (cost $146,450,315) | $ 147,890,442 |
Investments in affiliated securities, at value (cost $5,635,234) | 5,635,234 |
Receivable for dividends | 469,774 |
Receivable for investments sold | 396,950 |
Receivable for Fund shares sold | 95,609 |
Receivable for securities lending income, net | 8,495 |
Prepaid expenses and other assets | 53,438 |
Total assets | 154,549,942 |
Liabilities | |
Payable upon receipt of securities loaned | 1,789,962 |
Payable for investments purchased | 347,388 |
Payable for Fund shares redeemed | 136,117 |
Management fee payable | 103,063 |
Due to custodian bank, foreign currency, at value (cost $23,702) | 23,947 |
Administration fees payable | 22,472 |
Distribution fee payable | 1,786 |
Accrued expenses and other liabilities | 38,110 |
Total liabilities | 2,462,845 |
Total net assets | $152,087,097 |
Net assets consist of | |
Paid-in capital | $ 148,371,749 |
Total distributable earnings | 3,715,348 |
Total net assets | $152,087,097 |
Computation of net asset value and offering price per share | |
Net assets – Class A | $ 97,233,207 |
Shares outstanding – Class A1 | 2,903,234 |
Net asset value per share – Class A | $33.49 |
Maximum offering price per share – Class A2 | $35.53 |
Net assets – Class C | $ 2,740,683 |
Shares outstanding – Class C1 | 137,562 |
Net asset value per share – Class C | $19.92 |
Net assets – Administrator Class | $ 4,334,600 |
Shares outstanding – Administrator Class1 | 121,350 |
Net asset value per share – Administrator Class | $35.72 |
Net assets – Institutional Class | $ 47,778,607 |
Shares outstanding – Institutional Class1 | 1,336,415 |
Net asset value per share – Institutional Class | $35.75 |
1 | The Fund has an unlimited number of authorized shares. |
2 | Maximum offering price is computed as 100/94.25 of net asset value. On investments of $50,000 or more, the offering price is reduced. |
Investment income | |
Dividends (net of foreign withholdings taxes of $179,093) | $ 2,434,718 |
Securities lending income (including from affiliate), net | 182,767 |
Income from affiliated securities | 26,836 |
Total investment income | 2,644,321 |
Expenses | |
Management fee | 2,037,343 |
Administration fees | |
Class A | 250,851 |
Class C | 7,887 |
Administrator Class | 18,114 |
Institutional Class | 100,510 |
Shareholder servicing fees | |
Class A | 298,286 |
Class C | 9,348 |
Administrator Class | 34,344 |
Distribution fee | |
Class C | 28,060 |
Custody and accounting fees | 42,560 |
Professional fees | 55,495 |
Registration fees | 64,519 |
Shareholder report expenses | 44,058 |
Trustees’ fees and expenses | 20,819 |
Other fees and expenses | 17,024 |
Total expenses | 3,029,218 |
Less: Fee waivers and/or expense reimbursements | |
Fund-level | (27,669) |
Class A | (1,703) |
Administrator Class | (1,393) |
Institutional Class | (23,195) |
Net expenses | 2,975,258 |
Net investment loss | (330,937) |
Realized and unrealized gains (losses) on investments | |
Net realized gains on investments | 5,001,254 |
Net change in unrealized gains (losses) on investments | (75,202,679) |
Net realized and unrealized gains (losses) on investments | (70,201,425) |
Net decrease in net assets resulting from operations | $(70,532,362) |
Year ended October 31, 2022 | Year ended October 31, 2021 | |||
Operations | ||||
Net investment loss | $ (330,937) | $ (936,098) | ||
Net realized gains on investments | 5,001,254 | 45,458,968 | ||
Net change in unrealized gains (losses) on investments | (75,202,679) | 57,873,294 | ||
Net increase (decrease) in net assets resulting from operations | (70,532,362) | 102,396,164 | ||
Distributions to shareholders from | ||||
Net investment income and net realized gains | ||||
Class A | (21,661,516) | 0 | ||
Class C | (1,019,521) | 0 | ||
Administrator Class | (3,849,616) | 0 | ||
Institutional Class | (17,015,522) | 0 | ||
Total distributions to shareholders | (43,546,175) | 0 | ||
Capital share transactions | Shares | Shares | ||
Proceeds from shares sold | ||||
Class A | 100,591 | 4,163,801 | 161,044 | 7,747,457 |
Class C | 8,990 | 230,911 | 7,339 | 249,242 |
Administrator Class | 46,944 | 2,282,764 | 70,567 | 3,683,727 |
Institutional Class | 804,717 | 34,698,558 | 578,131 | 31,636,213 |
41,376,034 | 43,316,639 | |||
Reinvestment of distributions | ||||
Class A | 441,507 | 19,934,037 | 0 | 0 |
Class C | 37,210 | 1,006,145 | 0 | 0 |
Administrator Class | 78,981 | 3,800,581 | 0 | 0 |
Institutional Class | 348,182 | 16,723,192 | 0 | 0 |
41,463,955 | 0 | |||
Payment for shares redeemed | ||||
Class A | (464,719) | (18,563,699) | (406,040) | (20,137,366) |
Class C | (40,650) | (876,811) | (103,341) | (3,082,094) |
Administrator Class | (501,601) | (21,079,674) | (91,693) | (4,673,390) |
Institutional Class | (2,109,462) | (93,030,891) | (539,088) | (27,223,541) |
(133,551,075) | (55,116,391) | |||
Net decrease in net assets resulting from capital share transactions | (50,711,086) | (11,799,752) | ||
Total increase (decrease) in net assets | (164,789,623) | 90,596,412 | ||
Net assets | ||||
Beginning of period | 316,876,720 | 226,280,308 | ||
End of period | $ 152,087,097 | $316,876,720 |
Year ended October 31 | |||||
Class A | 2022 | 2021 | 2020 | 2019 | 2018 |
Net asset value, beginning of period | $54.12 | $36.87 | $39.97 | $39.97 | $45.81 |
Net investment income (loss) | (0.10) 1 | (0.22) 1 | (0.10) 1 | 0.18 1 | 0.10 |
Net realized and unrealized gains (losses) on investments | (12.76) | 17.47 | (1.29) | 3.26 | (0.72) |
Total from investment operations | (12.86) | 17.25 | (1.39) | 3.44 | (0.62) |
Distributions to shareholders from | |||||
Net investment income | 0.00 | 0.00 | (0.54) | (0.03) | (0.22) |
Net realized gains | (7.77) | 0.00 | (1.17) | (3.41) | (5.00) |
Total distributions to shareholders | (7.77) | 0.00 | (1.71) | (3.44) | (5.22) |
Net asset value, end of period | $33.49 | $54.12 | $36.87 | $39.97 | $39.97 |
Total return2 | (27.48)% | 46.79% | (3.81)% | 9.75% | (1.82)% |
Ratios to average net assets (annualized) | |||||
Gross expenses | 1.53% | 1.49% | 1.54% | 1.53% | 1.54% |
Net expenses | 1.52% | 1.49% | 1.53% | 1.53% | 1.54% |
Net investment income (loss) | (0.25)% | (0.44)% | (0.27)% | 0.47% | 0.16% |
Supplemental data | |||||
Portfolio turnover rate | 47% | 53% | 65% | 62% | 51% |
Net assets, end of period (000s omitted) | $97,233 | $152,947 | $113,234 | $141,388 | $132,906 |
1 | Calculated based upon average shares outstanding |
2 | Total return calculations do not include any sales charges. |
Year ended October 31 | |||||
Class C | 2022 | 2021 | 2020 | 2019 | 2018 |
Net asset value, beginning of period | $35.63 | $24.46 | $26.68 | $28.02 | $33.65 |
Net investment loss | (0.24) 1 | (0.39) 1 | (0.25) 1 | (0.07) 1 | (0.20) |
Payment from affiliate | 0.00 | 0.00 | 0.07 | 0.00 | 0.00 |
Net realized and unrealized gains (losses) on investments | (7.70) | 11.56 | (0.87) | 2.14 | (0.43) |
Total from investment operations | (7.94) | 11.17 | (1.05) | 2.07 | (0.63) |
Distributions to shareholders from | |||||
Net realized gains | (7.77) | 0.00 | (1.17) | (3.41) | (5.00) |
Net asset value, end of period | $19.92 | $35.63 | $24.46 | $26.68 | $28.02 |
Total return2 | (28.04)% | 45.67% | (4.25)% 3 | 8.90% | (2.56)% |
Ratios to average net assets (annualized) | |||||
Gross expenses | 2.28% | 2.24% | 2.29% | 2.28% | 2.29% |
Net expenses | 2.27% | 2.24% | 2.28% | 2.28% | 2.29% |
Net investment loss | (0.99)% | (1.19)% | (1.00)% | (0.26)% | (0.59)% |
Supplemental data | |||||
Portfolio turnover rate | 47% | 53% | 65% | 62% | 51% |
Net assets, end of period (000s omitted) | $2,741 | $4,704 | $5,576 | $7,567 | $26,167 |
1 | Calculated based upon average shares outstanding |
2 | Total return calculations do not include any sales charges. |
3 | During the year ended October 31, 2020, the Fund received a payment from an affiliate which had a 0.28% impact on the total return. |
Year ended October 31 | |||||
Administrator Class | 2022 | 2021 | 2020 | 2019 | 2018 |
Net asset value, beginning of period | $57.15 | $38.90 | $42.06 | $41.90 | $47.78 |
Net investment income (loss) | (0.14) 1 | (0.12) | (0.05) 1 | 0.25 1 | 0.14 1 |
Payment from affiliate | 0.00 | 0.00 | 0.03 | 0.00 | 0.00 |
Net realized and unrealized gains (losses) on investments | (13.52) | 18.37 | (1.36) | 3.42 | (0.73) |
Total from investment operations | (13.66) | 18.25 | (1.38) | 3.67 | (0.59) |
Distributions to shareholders from | |||||
Net investment income | 0.00 | 0.00 | (0.61) | (0.10) | (0.29) |
Net realized gains | (7.77) | 0.00 | (1.17) | (3.41) | (5.00) |
Total distributions to shareholders | (7.77) | 0.00 | (1.78) | (3.51) | (5.29) |
Net asset value, end of period | $35.72 | $57.15 | $38.90 | $42.06 | $41.90 |
Total return | (27.41)% | 46.92% | (3.61)% 2 | 9.90% | (1.68)% |
Ratios to average net assets (annualized) | |||||
Gross expenses | 1.42% | 1.41% | 1.46% | 1.45% | 1.46% |
Net expenses | 1.39% | 1.39% | 1.40% | 1.40% | 1.40% |
Net investment income (loss) | (0.30)% | (0.35)% | (0.13)% | 0.63% | 0.30% |
Supplemental data | |||||
Portfolio turnover rate | 47% | 53% | 65% | 62% | 51% |
Net assets, end of period (000s omitted) | $4,335 | $28,406 | $20,157 | $24,746 | $27,965 |
1 | Calculated based upon average shares outstanding |
2 | During the year ended October 31, 2020, the Fund received a payment from an affiliate which had a 0.08% impact on the total return. |
Year ended October 31 | |||||
Institutional Class | 2022 | 2021 | 2020 | 2019 | 2018 |
Net asset value, beginning of period | $57.05 | $38.74 | $41.92 | $41.80 | $47.68 |
Net investment income (loss) | 0.02 1 | (0.06) | 0.02 | 0.36 | 0.25 |
Net realized and unrealized gains (losses) on investments | (13.55) | 18.37 | (1.31) | 3.39 | (0.74) |
Total from investment operations | (13.53) | 18.31 | (1.29) | 3.75 | (0.49) |
Distributions to shareholders from | |||||
Net investment income | 0.00 | 0.00 | (0.72) | (0.22) | (0.39) |
Net realized gains | (7.77) | 0.00 | (1.17) | (3.41) | (5.00) |
Total distributions to shareholders | (7.77) | 0.00 | (1.89) | (3.63) | (5.39) |
Net asset value, end of period | $35.75 | $57.05 | $38.74 | $41.92 | $41.80 |
Total return | (27.20)% | 47.26% | (3.42)% | 10.17% | (1.45)% |
Ratios to average net assets (annualized) | |||||
Gross expenses | 1.19% | 1.16% | 1.21% | 1.20% | 1.21% |
Net expenses | 1.15% | 1.15% | 1.15% | 1.15% | 1.15% |
Net investment income (loss) | 0.06% | (0.12)% | 0.11% | 0.86% | 0.54% |
Supplemental data | |||||
Portfolio turnover rate | 47% | 53% | 65% | 62% | 51% |
Net assets, end of period (000s omitted) | $47,779 | $130,820 | $87,313 | $104,011 | $118,625 |
1 | Calculated based upon average shares outstanding |
Gross unrealized gains | $ 24,149,581 |
Gross unrealized losses | (26,797,527) |
Net unrealized losses | $ (2,647,946) |
Paid-in capital | Total distributable earnings |
$(1,053,817) | $1,053,817 |
■ | Level 1 – quoted prices in active markets for identical securities |
■ | Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.) |
■ | Level 3 – significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments) |
Quoted prices (Level 1) | Other significant observable inputs (Level 2) | Significant unobservable inputs (Level 3) | Total | |
Assets | ||||
Investments in: | ||||
Common stocks | ||||
Australia | $ 6,089,841 | $ 0 | $0 | $ 6,089,841 |
Belgium | 2,189,392 | 0 | 0 | 2,189,392 |
Canada | 7,319,187 | 0 | 0 | 7,319,187 |
Denmark | 794,307 | 0 | 0 | 794,307 |
France | 3,825,970 | 0 | 0 | 3,825,970 |
Germany | 5,214,956 | 0 | 0 | 5,214,956 |
Ireland | 895,720 | 0 | 0 | 895,720 |
Italy | 3,049,924 | 0 | 0 | 3,049,924 |
Japan | 13,795,141 | 0 | 0 | 13,795,141 |
Luxembourg | 488,201 | 0 | 0 | 488,201 |
Netherlands | 350,205 | 0 | 0 | 350,205 |
Norway | 1,645,792 | 0 | 0 | 1,645,792 |
Spain | 3,907,567 | 0 | 0 | 3,907,567 |
Sweden | 2,476,388 | 0 | 0 | 2,476,388 |
Switzerland | 1,813,117 | 0 | 0 | 1,813,117 |
United Kingdom | 10,000,779 | 416,288 | 0 | 10,417,067 |
United States | 83,617,667 | 0 | 0 | 83,617,667 |
Short-term investments | ||||
Investment companies | 5,635,234 | 0 | 0 | 5,635,234 |
Total assets | $153,109,388 | $416,288 | $0 | $153,525,676 |
Average daily net assets | Management fee |
First $500 million | 0.950% |
Next $500 million | 0.925 |
Next $1 billion | 0.900 |
Next $2 billion | 0.875 |
Next $1 billion | 0.850 |
Next $5 billion | 0.840 |
Over $10 billion | 0.830 |
Class-level administration fee | |
Class A | 0.21% |
Class C | 0.21 |
Administrator Class | 0.13 |
Institutional Class | 0.13 |
Expense ratio caps | |
Class A | 1.55% |
Class C | 2.30 |
Administrator Class | 1.40 |
Institutional Class | 1.15 |
Counterparty | Value of securities on loan | Collateral received1 | Net amount |
Bank of America Securities Incorporated | $ 75,620 | $ (75,620) | $0 |
Barclays Capital Incorporated | 284,208 | (284,208) | 0 |
Citigroup Global Markets Incorporated | 382,905 | (382,905) | 0 |
Credit Suisse Securities (USA) LLC | 728,473 | (728,473) | 0 |
Morgan Stanley & Co. LLC | 195,816 | (195,816) | 0 |
National Financial Services LLC | 19,104 | (19,104) | 0 |
Year ended October 31 | ||
2022 | 2021 | |
Ordinary income | $27,408,178 | $0 |
Long-term capital gain | 16,137,997 | 0 |
Undistributed long-term gain | Unrealized losses |
$6,409,711 | $(2,689,281) |
Allspring Funds Trust:
![](https://capedge.com/proxy/N-CSR/0001193125-23-001376/g417982img030bee9b7.jpg)
Name and year of birth | Position held and length of service* | Principal occupations during past five years or longer | Current other public company or investment company directorships |
William R. Ebsworth (Born 1957) | Trustee, since 2015 | Retired. From 1984 to 2013, equities analyst, portfolio manager, research director and chief investment officer at Fidelity Management and Research Company in Boston, Tokyo, and Hong Kong, and retired in 2013 as Chief Investment Officer of Fidelity Strategic Advisers, Inc. where he led a team of investment professionals managing client assets. Prior thereto, Board member of Hong Kong Securities Clearing Co., Hong Kong Options Clearing Corp., the Thailand International Fund, Ltd., Fidelity Investments Life Insurance Company, and Empire Fidelity Investments Life Insurance Company. Audit Committee Chair and Investment Committee Chair of the Vincent Memorial Hospital Endowment (non-profit organization). Mr. Ebsworth is a CFA® charterholder. | N/A |
Jane A. Freeman (Born 1953) | Trustee, since 2015; Chair Liaison, since 2018 | Retired. From 2012 to 2014 and 1999 to 2008, Chief Financial Officer of Scientific Learning Corporation. From 2008 to 2012, Ms. Freeman provided consulting services related to strategic business projects. Prior to 1999, Portfolio Manager at Rockefeller & Co. and Scudder, Stevens & Clark. Board member of the Harding Loevner Funds from 1996 to 2014, serving as both Lead Independent Director and chair of the Audit Committee. Board member of the Russell Exchange Traded Funds Trust from 2011 to 2012 and the chair of the Audit Committee. Ms. Freeman is also an inactive Chartered Financial Analyst. | N/A |
Isaiah Harris, Jr. (Born 1952) | Trustee, since 2009; Audit Committee Chair, since 2019 | Retired. Chairman of the Board of CIGNA Corporation from 2009 to 2021, and Director from 2005 to 2008. From 2003 to 2011, Director of Deluxe Corporation. Prior thereto, President and CEO of BellSouth Advertising and Publishing Corp. from 2005 to 2007, President and CEO of BellSouth Enterprises from 2004 to 2005 and President of BellSouth Consumer Services from 2000 to 2003. Emeritus member of the Iowa State University Foundation Board of Governors. Emeritus Member of the Advisory Board of Iowa State University School of Business. Advisory Board Member, Palm Harbor Academy (private school). Advisory Board Member, Fellowship of Christian Athletes. Mr. Harris is a certified public accountant (inactive status). | N/A |
David F. Larcker (Born 1950) | Trustee, since 2009 | James Irvin Miller Professor of Accounting at the Graduate School of Business (Emeritus), Stanford University, Director of the Corporate Governance Research Initiative and Senior Faculty of The Rock Center for Corporate Governance since 2006. From 2005 to 2008, Professor of Accounting at the Graduate School of Business, Stanford University. Prior thereto, Ernst & Young Professor of Accounting at The Wharton School, University of Pennsylvania from 1985 to 2005. | N/A |
Name and year of birth | Position held and length of service* | Principal occupations during past five years or longer | Current other public company or investment company directorships |
Olivia S. Mitchell (Born 1953) | Trustee, since 2006; Nominating and Governance Committee Chair, since 2018 | International Foundation of Employee Benefit Plans Professor since 1993, Wharton School of the University of Pennsylvania. Director of Wharton’s Pension Research Council and Boettner Center on Pensions & Retirement Research, and Research Associate at the National Bureau of Economic Research. Previously taught at Cornell University from 1978 to 1993. | N/A |
Timothy J. Penny (Born 1951) | Trustee, since 1996; Chair, since 2018 | President and Chief Executive Officer of Southern Minnesota Initiative Foundation, a non-profit organization, since 2007. Vice Chair of the Economic Club of Minnesota, since 2007. Co-Chair of the Committee for a Responsible Federal Budget, since 1995. Member of the Board of Trustees of NorthStar Education Finance, Inc., a non-profit organization, since 2007. Senior Fellow of the University of Minnesota Humphrey Institute from 1995 to 2017. | N/A |
James G. Polisson (Born 1959) | Trustee, since 2018 | Retired. Chief Marketing Officer, Source (ETF) UK Services, Ltd, from 2015 to 2017. From 2012 to 2015, Principal of The Polisson Group, LLC, a management consulting, corporate advisory and principal investing company. Chief Executive Officer and Managing Director at Russell Investments, Global Exchange Traded Funds from 2010 to 2012. Managing Director of Barclays Global Investors from 1998 to 2010 and Global Chief Marketing Officer for iShares and Barclays Global Investors from 2000 to 2010. Trustee of the San Francisco Mechanics’ Institute, a non-profit organization, from 2013 to 2015. Board member of the Russell Exchange Traded Fund Trust from 2011 to 2012. Director of Barclays Global Investors Holdings Deutschland GmbH from 2006 to 2009. Mr. Polisson is an attorney and has a retired status with the Massachusetts and District of Columbia Bar Associations. | N/A |
Pamela Wheelock (Born 1959) | Trustee, since January 2020; previously Trustee from January 2018 to July 2019 | Retired. Executive and Senior Financial leadership positions in the public, private and nonprofit sectors. Interim President and CEO, McKnight Foundation, 2020. Interim Commissioner, Minnesota Department of Human Services, 2019. Chief Operating Officer, Twin Cities Habitat for Humanity, 2017-2019. Vice President for University Services, University of Minnesota, 2012-2016. Interim President and CEO, Blue Cross and Blue Shield of Minnesota, 2011-2012. Executive Vice-President and Chief Financial Officer, Minnesota Wild, 2002-2008. Commissioner, Minnesota Department of Finance, 1999-2002. Chair of the Board of Directors of Destination Medical Center Corporation. Board member of the Minnesota Wild Foundation. | N/A |
Name and year of birth | Position held and length of service | Principal occupations during past five years or longer |
Andrew Owen (Born 1960) | President, since 2017 | President and Chief Executive Officer of Allspring Funds Management, LLC since 2017 and Head of Global Fund Governance of Allspring Global Investments since 2022. Prior thereto, co-president of Galliard Capital Management, LLC, an affiliate of Allspring Funds Management, LLC, from 2019 to 2022 and Head of Affiliated Managers, Allspring Global Investments, from 2014 to 2019 and Executive Vice President responsible for marketing, investments and product development for Allspring Funds Management, LLC, from 2009 to 2014. |
Jeremy DePalma (Born 1974) | Treasurer, since 2012 (for certain funds in the Fund Complex); since 2021 (for the remaining funds in the Fund Complex) | Senior Vice President of Allspring Funds Management, LLC since 2009. Senior Vice President of Evergreen Investment Management Company, LLC from 2008 to 2010 and head of the Fund Reporting and Control Team within Fund Administration from 2005 to 2010. |
Christopher Baker (Born 1976) | Chief Compliance Officer, since 2022 | Global Chief Compliance Officer for Allspring Global Investments since 2022. Prior thereto, Chief Compliance Officer for State Street Global Advisors from 2018 to 2021. Senior Compliance Officer for the State Street divisions of Alternative Investment Solutions, Sector Solutions, and Global Marketing from 2015 to 2018. From 2010 to 2015 Vice President, Global Head of Investment and Marketing Compliance for State Street Global Advisors. |
Matthew Prasse (Born 1983) | Chief Legal Officer, since 2022; Secretary, since 2021 | Senior Counsel of the Allspring Legal Department since 2021. Senior Counsel of the Wells Fargo Legal Department from 2018 to 2021. Previously, Counsel for Barings LLC from 2015 to 2018. Prior to joining Barings, Associate at Morgan, Lewis & Bockius LLP from 2008 to 2015. |
![](https://capedge.com/proxy/N-CSR/0001193125-23-001376/g417982img9be358b31.jpg)
P.O. Box 219967
Kansas City, MO 64121-9967
![](https://capedge.com/proxy/N-CSR/0001193125-23-001376/g417982imgdc5d76848.jpg)
1-800-222-8222 or visit the Fund's website at allspringglobal.com. Read the prospectus carefully before you invest or send money.
A239/AR239 10-22
![](https://capedge.com/proxy/N-CSR/0001193125-23-001376/g413962img4221f4b71.jpg)
International Equity Fund
2 | |
6 | |
10 | |
11 | |
Financial statements | |
14 | |
15 | |
16 | |
18 | |
24 | |
32 | |
33 |
![](https://capedge.com/proxy/N-CSR/0001193125-23-001376/g413962imgfaaca4b92.gif)
1 | The S&P 500 Index consists of 500 stocks chosen for market size, liquidity, and industry group representation. It is a market-value-weighted index with each stock's weight in the index proportionate to its market value. You cannot invest directly in an index. |
2 | The Morgan Stanley Capital International (MSCI) All Country World Index (ACWI) ex USA Index (Net) is a free-float-adjusted market-capitalization-weighted index that is designed to measure the equity market performance of developed and emerging markets, excluding the U.S. Source: MSCI. MSCI makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein. The MSCI data may not be further redistributed or used as a basis for other indexes or any securities or financial products. This report is not approved, reviewed, or produced by MSCI. You cannot invest directly in an index. |
3 | The MSCI Emerging Markets (EM) Index (Net) (USD) is a free-float-adjusted market-capitalization-weighted index that is designed to measure equity market performance of emerging markets. You cannot invest directly in an index. |
4 | The Bloomberg U.S. Aggregate Bond Index is a broad-based benchmark that measures the investment-grade, U.S.-dollar-denominated, fixed-rate taxable bond market, including Treasuries, government-related and corporate securities, mortgage-backed securities (agency fixed-rate and hybrid adjustable-rate mortgage pass-throughs), asset-backed securities, and commercial mortgage-backed securities. You cannot invest directly in an index. |
5 | The Bloomberg Global Aggregate ex-USD Index (unhedged) is an unmanaged index that provides a broad-based measure of the global investment-grade fixed-income markets excluding the U.S.-dollar-denominated debt market. You cannot invest directly in an index. |
6 | The Bloomberg Municipal Bond Index is an unmanaged index composed of long-term tax-exempt bonds with a minimum credit rating of Baa. You cannot invest directly in an index. |
7 | The ICE BofA U.S. High Yield Index is a market-capitalization-weighted index of domestic and Yankee high-yield bonds. The index tracks the performance of high-yield securities traded in the U.S. bond market. You cannot invest directly in an index. Copyright 2022. ICE Data Indices, LLC. All rights reserved. |
8 | The Consumer Price Index (CPI) is a measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services. You cannot invest directly in an index. |
1 | The MSCI ACWI (Net) is a free-float-adjusted market-capitalization-weighted index that is designed to measure the equity market performance of developed and emerging markets. You cannot invest directly in an index. |
![](https://capedge.com/proxy/N-CSR/0001193125-23-001376/g413962img4d18605f3.jpg)
President
Allspring Funds
Investment objective | The Fund seeks long-term capital appreciation. |
Manager | Allspring Funds Management, LLC |
Subadviser | Allspring Global Investments, LLC |
Portfolio managers | Venkateshwar (Venk) Lal, Dale A. Winner, CFA®‡ |
Average annual total returns (%) as of October 31, 2022 | |||||||||||
Including sales charge | Excluding sales charge | Expense ratios1 (%) | |||||||||
Inception date | 1 year | 5 year | 10 year | 1 year | 5 year | 10 year | Gross | Net 2 | |||
Class A (WFEAX) | 1-20-1998 | -27.25 | -4.27 | 2.38 | -22.84 | -3.13 | 2.99 | 1.32 | 1.15 | ||
Class C (WFEFX) | 3-6-1998 | -24.38 | -3.84 | 2.37 | -23.38 | -3.84 | 2.37 | 2.07 | 1.90 | ||
Class R (WFERX) | 10-10-2003 | – | – | – | -22.98 | -3.34 | 2.74 | 1.57 | 1.40 | ||
Class R6 (WFEHX)3 | 9-30-2015 | – | – | – | -22.56 | -2.83 | 3.27 | 0.89 | 0.80 | ||
Administrator Class (WFEDX) | 7-16-2010 | – | – | – | -22.81 | -3.12 | 2.99 | 1.24 | 1.15 | ||
Institutional Class (WFENX) | 3-9-1998 | – | – | – | -22.56 | -2.84 | 3.27 | 0.99 | 0.85 | ||
MSCI ACWI ex USA Index (Net)4 | – | – | – | – | -24.73 | -0.60 | 3.27 | – | – | ||
MSCI ACWI ex USA Value Index (Net)5 | – | – | – | – | -18.13 | -1.60 | 2.21 | – | – |
1 | Reflects the expense ratios as stated in the most recent prospectuses, which include the impact of 0.01% in acquired fund fees and expenses. The expense ratios shown are subject to change and may differ from the annualized expense ratios shown in the financial highlights of this report, which do not include acquired fund fees and expenses. |
2 | The manager has contractually committed through February 28, 2023, to waive fees and/or reimburse expenses to the extent necessary to cap total annual fund operating expenses after fee waivers at 1.14% for Class A, 1.89% for Class C, 1.39% for Class R, 0.79% for Class R6, 1.14% for Administrator Class, and 0.84% for Institutional Class. Brokerage commissions, stamp duty fees, interest, taxes, acquired fund fees and expenses (if any), and extraordinary expenses are excluded from the expense caps. Prior to or after the commitment expiration date, the caps may be increased or the commitment to maintain the caps may be terminated only with the approval of the Board of Trustees. Without these caps, the Fund’s returns would have been lower. The expense ratio paid by an investor is the net expense ratio (the total annual fund operating expenses after fee waivers) as stated in the prospectuses. |
3 | Historical performance shown for the Class R6 shares prior to their inception reflects the performance of the Institutional Class shares, and includes the higher expenses applicable to the Institutional Class shares. If these expenses had not been included, returns for the Class R6 shares would be higher. |
4 | The Morgan Stanley Capital International (MSCI) All Country World Index (ACWI) ex USA Index (Net) is a free-float-adjusted market- capitalization-weighted index that is designed to measure the equity market performance of developed and emerging markets, excluding the U.S. Source: MSCI. MSCI makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein. The MSCI data may not be further redistributed or used as a basis for other indexes or any securities or financial products. This report is not approved, reviewed, or produced by MSCI. You cannot invest directly in an index. |
5 | The MSCI ACWI ex USA Value Index (Net) captures large and mid-cap securities exhibiting overall value style characteristics across developed and emerging markets countries excluding the U.S. The value investment style characteristics for index construction are defined using three variables: book value to price, 12-month forward earnings to price, and dividend yield. You cannot invest directly in an index. |
‡ | CFA® and Chartered Financial Analyst® are trademarks owned by CFA Institute. |
![](https://capedge.com/proxy/N-CSR/0001193125-23-001376/g413962imgbd7ac6274.gif)
1 | The chart compares the performance of Class A shares for the most recent ten years with the MSCI ACWI ex USA Index (Net) and MSCI ACWI ex USA Value Index (Net). The chart assumes a hypothetical investment of $10,000 in Class A shares and reflects all operating expenses and assumes the maximum initial sales charge of 5.75%. |
■ | The Fund outperformed the MSCI ACWI ex USA Index (Net) while underperforming the MSCI ACWI ex USA Value Index (Net) for the 12-month period that ended October 31, 2022. |
■ | Stock selection within the industrials, information technology (IT), and communication services sectors resulted in notable contributions to performance. Positioning in consumer staples, consumer discretionary, and health care sector stocks detracted from relative performance due to a combination of negative allocation and selection effects. |
■ | The Fund’s exposure to Europe declined. Overweight positions in Italy, the U.K., the Netherlands, and Norway were offset by underweights in Switzerland, Sweden, Germany, and Denmark. The Fund was underweight Asia on a regional basis, including underweights in Taiwan, Australia, and India and being partially offset by overweights in Korea, Thailand, and China/Hong Kong. |
Ten largest holdings (%) as of October 31, 20221 | |
SK Telecom Company Limited | 3.39 |
Check Point Software Technologies Limited | 3.25 |
Informa plc | 3.09 |
Shell plc | 2.98 |
Baker Hughes Company | 2.93 |
Asahi Group Holdings Limited | 2.87 |
Hitachi Limited | 2.81 |
SCB X PCL | 2.72 |
ORIX Corporation | 2.72 |
DNB Bank ASA | 2.71 |
1 | Figures represent the percentage of the Fund's net assets. Holdings are subject to change and may have changed since the date specified. |
Sector allocation as of October 31, 20221 |
![](https://capedge.com/proxy/N-CSR/0001193125-23-001376/g413962imge6cb70185.jpg)
1 | Figures represent the percentage of the Fund's long-term investments. Allocations are subject to change and may have changed since the date specified. |
Geographic allocation as of October 31, 20221 |
![](https://capedge.com/proxy/N-CSR/0001193125-23-001376/g413962img78433a7a6.jpg)
1 | Figures represent the percentage of the Fund's long-term investments. Allocations are subject to change and may have changed since the date specified. |
* | The VIX Index is a financial benchmark designed to be an up-to-the-minute market estimate of the expected volatility of the S&P 500® Index, and is calculated by using the midpoint of real-time S&P 500 Index (SPX) option bid/ask quotes. You cannot invest directly in an index. |
** | The MSCI All Country World Index (ACWI) (Net) is a free-float-adjusted market-capitalization-weighted index that is designed to measure the equity market performance of developed and emerging markets. You cannot invest directly in an index |
*** | The Purchasing Managers' Index (PMI) is an index of the prevailing direction of economic trends in the manufacturing and service sectors. You cannot invest directly in an index |
Beginning account value 5-1-2022 | Ending account value 10-31-2022 | Expenses paid during the period1 | Annualized net expense ratio | |
Class A | ||||
Actual | $1,000.00 | $ 869.51 | $5.32 | 1.13% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,019.51 | $5.75 | 1.13% |
Class C | ||||
Actual | $1,000.00 | $ 866.58 | $8.89 | 1.89% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,015.68 | $9.60 | 1.89% |
Class R | ||||
Actual | $1,000.00 | $ 869.30 | $6.55 | 1.39% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,018.20 | $7.07 | 1.39% |
Class R6 | ||||
Actual | $1,000.00 | $ 871.30 | $3.73 | 0.79% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,021.22 | $4.02 | 0.79% |
Administrator Class | ||||
Actual | $1,000.00 | $ 869.92 | $5.37 | 1.14% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,019.46 | $5.80 | 1.14% |
Institutional Class | ||||
Actual | $1,000.00 | $ 871.19 | $3.96 | 0.84% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,020.97 | $4.28 | 0.84% |
Shares | Value | |||||
Common stocks: 93.57% | ||||||
Australia: 2.28% | ||||||
Qantas Airways Limited (Industrials, Airlines) † | 1,825,298 | $ 6,818,503 | ||||
Brazil: 2.08% | ||||||
CPFL Energia SA (Utilities, Electric utilities) | 908,800 | 6,231,671 | ||||
Canada: 1.96% | ||||||
SNC-Lavalin Group Incorporated (Industrials, Construction & engineering) | 339,000 | 5,870,011 | ||||
China: 7.62% | ||||||
China Resources Land Limited (Real estate, Real estate management & development) | 1,038,000 | 3,252,986 | ||||
LONGi Green Energy Technology Company Limited Class A (Information technology, Semiconductors & semiconductor equipment) | 995,394 | 6,543,584 | ||||
Midea Group Company Limited Class A (Consumer discretionary, Household durables) | 1,203,951 | 6,627,949 | ||||
Oppein Home Group Incorporated Class A (Consumer discretionary, Household durables) | 248,606 | 2,773,340 | ||||
Topsports International Holdings Limited (Consumer discretionary, Specialty retail) 144A | 7,162,000 | 3,613,094 | ||||
22,810,953 | ||||||
France: 5.86% | ||||||
Compagnie de Saint-Gobain SA (Industrials, Building products) | 23,370 | 956,149 | ||||
Sanofi SA (Health care, Pharmaceuticals) | 59,992 | 5,177,540 | ||||
Sodexho Alliance SA (Consumer discretionary, Hotels, restaurants & leisure) | 64,065 | 5,681,638 | ||||
Worldline SA (Information technology, IT services) 144A† | 130,578 | 5,719,215 | ||||
17,534,542 | ||||||
Germany: 2.84% | ||||||
Rheinmetall AG (Industrials, Aerospace & defense) | 43,758 | 7,113,610 | ||||
Siemens AG (Industrials, Industrial conglomerates) | 9,470 | 1,035,449 | ||||
Siemens Energy AG (Industrials, Electrical equipment) | 28,707 | 335,188 | ||||
8,484,247 | ||||||
Hong Kong: 0.69% | ||||||
Xinyi Glass Holdings Limited (Industrials, Building products) | 1,605,000 | 2,065,124 | ||||
India: 1.77% | ||||||
Tech Mahindra Limited (Information technology, IT services) | 412,897 | 5,304,276 | ||||
Ireland: 2.01% | ||||||
Greencore Group plc (Consumer staples, Food products) | 2,391,664 | 1,837,649 | ||||
ICON plc ADR (Health care, Life sciences tools & services) † | 21,133 | 4,180,953 | ||||
6,018,602 | ||||||
Israel: 3.25% | ||||||
Check Point Software Technologies Limited (Information technology, Software) † | 75,212 | 9,719,647 | ||||
Italy: 4.80% | ||||||
Prysmian SpA (Industrials, Electrical equipment) | 196,522 | 6,407,081 | ||||
UniCredit SpA (Financials, Banks) | 642,111 | 7,962,534 | ||||
14,369,615 |
Shares | Value | |||||
Japan: 12.17% | ||||||
Asahi Group Holdings Limited (Consumer staples, Beverages) | 306,200 | $ 8,574,712 | ||||
Hitachi Limited (Industrials, Industrial conglomerates) | 184,900 | 8,405,959 | ||||
Mitsubishi UFJ Financial Group Incorporated (Financials, Banks) | 1,435,900 | 6,754,848 | ||||
ORIX Corporation (Financials, Diversified financial services) | 554,300 | 8,145,166 | ||||
Showa Denko KK (Materials, Chemicals) | 310,300 | 4,532,577 | ||||
36,413,262 | ||||||
Netherlands: 6.23% | ||||||
CNH Industrial NV (Industrials, Machinery) | 208,375 | 2,698,667 | ||||
ING Groep NV (Financials, Banks) | 656,054 | 6,453,628 | ||||
NN Group NV (Financials, Insurance) | 176,118 | 7,457,981 | ||||
OCI NV (Materials, Chemicals) | 53,219 | 2,036,427 | ||||
18,646,703 | ||||||
Norway: 2.71% | ||||||
DNB Bank ASA (Financials, Banks) | 457,699 | 8,100,750 | ||||
South Korea: 9.08% | ||||||
Coway Company Limited (Consumer discretionary, Household durables) | 81,983 | 3,182,744 | ||||
Hana Financial Group Incorporated (Financials, Banks) | 196,140 | 5,679,929 | ||||
Samsung Electronics Company Limited GDR (Information technology, Technology hardware, storage & peripherals) | 6,858 | 7,087,743 | ||||
SK Square Company Limited (Information technology, Semiconductors & semiconductor equipment) † | 41,391 | 1,073,676 | ||||
SK Telecom Company Limited (Communication services, Wireless telecommunication services) | 288,131 | 10,133,991 | ||||
27,158,083 | ||||||
Thailand: 4.66% | ||||||
Minor International PCL (Consumer discretionary, Hotels, restaurants & leisure) † | 7,827,600 | 5,810,029 | ||||
SCB X PCL (Financials, Banks) | 2,926,400 | 8,150,247 | ||||
13,960,276 | ||||||
United Kingdom: 12.43% | ||||||
ConvaTec Group plc (Health care, Health care equipment & supplies) | 2,479,336 | 6,198,397 | ||||
Entain plc (Consumer discretionary, Hotels, restaurants & leisure) | 300,570 | 4,353,479 | ||||
Informa plc (Communication services, Media) | 1,452,610 | 9,255,476 | ||||
NatWest Group plc (Financials, Banks) | 566,540 | 1,525,514 | ||||
Nomad Foods Limited (Consumer staples, Food products) † | 451,333 | 6,950,528 | ||||
Shell plc (Energy, Oil, gas & consumable fuels) | 323,829 | 8,927,661 | ||||
37,211,055 | ||||||
United States: 11.13% | ||||||
Axalta Coating Systems Limited (Materials, Chemicals) † | 253,344 | 5,907,982 | ||||
Baker Hughes Company (Energy, Energy equipment & services) | 317,353 | 8,777,984 | ||||
Berry Global Group Incorporated (Materials, Containers & packaging) † | 94,796 | 4,485,747 | ||||
Cognex Corporation (Information technology, Electronic equipment, instruments & components) | 95,511 | 4,415,474 | ||||
Gentex Corporation (Consumer discretionary, Auto components) | 126,263 | 3,344,707 | ||||
Samsonite International SA (Consumer discretionary, Textiles, apparel & luxury goods) 144A† | 2,967,100 | 6,380,494 | ||||
33,312,388 | ||||||
Total Common stocks (Cost $305,730,044) | 280,029,708 |
Shares | Value | |||||
Investment companies: 2.38% | ||||||
United States: 2.38% | ||||||
iShares MSCI ACWI ex US ETF « | 172,183 | $ 7,131,820 | ||||
Total Investment companies (Cost $7,743,639) | 7,131,820 |
Yield | ||||||
Short-term investments: 3.84% | ||||||
Investment companies: 3.84% | ||||||
Allspring Government Money Market Fund Select Class ♠∞ | 2.94% | 4,710,469 | 4,710,469 | |||
Securities Lending Cash Investments LLC ♠∩∞ | 3.14 | 6,780,138 | 6,780,138 | |||
Total Short-term investments (Cost $11,490,607) | 11,490,607 | |||||
Total investments in securities (Cost $324,964,290) | 99.79% | 298,652,135 | ||||
Other assets and liabilities, net | 0.21 | 614,094 | ||||
Total net assets | 100.00% | $299,266,229 |
† | Non-income-earning security |
144A | The security may be resold in transactions exempt from registration, normally to qualified institutional buyers, pursuant to Rule 144A under the Securities Act of 1933. |
« | All or a portion of this security is on loan. |
♠ | The issuer of the security is an affiliated person of the Fund as defined in the Investment Company Act of 1940. |
∩ | The investment is a non-registered investment company purchased with cash collateral received from securities on loan. |
∞ | The rate represents the 7-day annualized yield at period end. |
Abbreviations: | |
ADR | American depositary receipt |
GDR | Global depositary receipt |
Value, beginning of period | Purchases | Sales proceeds | Net realized gains (losses) | Net change in unrealized gains (losses) | Value, end of period | Shares, end of period | Income from affiliated securities | |||
Short-term investments | ||||||||||
Allspring Government Money Market Fund Select Class | $ 5,388,960 | $130,679,879 | $(131,358,370) | $0 | $0 | $ 4,710,469 | 4,710,469 | $ 78,158 | ||
Securities Lending Cash Investments LLC | 11,811,045 | 47,060,391 | (52,091,298) | 0 | 0 | 6,780,138 | 6,780,138 | 31,222 # | ||
$0 | $0 | $11,490,607 | $109,380 |
# | Amount shown represents income before fees and rebates. |
Assets | |
Investments in unaffiliated securities (including $6,569,212 of securities loaned), at value (cost $313,473,683) | $ 287,161,528 |
Investments in affiliated securities, at value (cost $11,490,607) | 11,490,607 |
Cash | 146,461 |
Foreign currency, at value (cost $2,154,170) | 2,144,295 |
Receivable for investments sold | 4,037,708 |
Receivable for dividends | 3,394,843 |
Receivable for Fund shares sold | 113,474 |
Receivable for securities lending income, net | 3,271 |
Prepaid expenses and other assets | 113,732 |
Total assets | 308,605,919 |
Liabilities | |
Payable upon receipt of securities loaned | 6,780,138 |
Payable for investments purchased | 1,709,059 |
Payable for Fund shares redeemed | 605,546 |
Management fee payable | 117,221 |
Administration fees payable | 37,088 |
Distribution fees payable | 2,186 |
Trustees’ fees and expenses payable | 948 |
Accrued expenses and other liabilities | 87,504 |
Total liabilities | 9,339,690 |
Total net assets | $ 299,266,229 |
Net assets consist of | |
Paid-in capital | $ 430,247,486 |
Total distributable loss | (130,981,257) |
Total net assets | $ 299,266,229 |
Computation of net asset value and offering price per share | |
Net assets – Class A | $ 116,735,310 |
Shares outstanding – Class A1 | 11,622,624 |
Net asset value per share – Class A | $10.04 |
Maximum offering price per share – Class A2 | $10.65 |
Net assets – Class C | $ 3,324,402 |
Shares outstanding – Class C1 | 332,914 |
Net asset value per share – Class C | $9.99 |
Net assets – Class R | $ 291,062 |
Shares outstanding – Class R1 | 28,216 |
Net asset value per share – Class R | $10.32 |
Net assets – Class R6 | $ 42,384,738 |
Shares outstanding – Class R61 | 4,271,595 |
Net asset value per share – Class R6 | $9.92 |
Net assets – Administrator Class | $ 8,662,018 |
Shares outstanding – Administrator Class1 | 876,865 |
Net asset value per share – Administrator Class | $9.88 |
Net assets – Institutional Class | $ 127,868,699 |
Shares outstanding – Institutional Class1 | 12,878,233 |
Net asset value per share – Institutional Class | $9.93 |
1 | The Fund has an unlimited number of authorized shares. |
2 | Maximum offering price is computed as 100/94.25 of net asset value. On investments of $50,000 or more, the offering price is reduced. |
Investment income | |
Dividends (net of foreign withholdings taxes of $917,593) | $ 9,756,699 |
Income from affiliated securities | 136,154 |
Total investment income | 9,892,853 |
Expenses | |
Management fee | 3,085,715 |
Administration fees | |
Class A | 302,535 |
Class C | 9,980 |
Class R | 646 |
Class R6 | 14,932 |
Administrator Class | 14,708 |
Institutional Class | 216,698 |
Shareholder servicing fees | |
Class A | 359,115 |
Class C | 11,839 |
Class R | 769 |
Administrator Class | 28,013 |
Distribution fees | |
Class C | 35,462 |
Class R | 769 |
Custody and accounting fees | 136,965 |
Professional fees | 64,655 |
Registration fees | 106,188 |
Shareholder report expenses | 58,692 |
Trustees’ fees and expenses | 20,819 |
Other fees and expenses | 77,368 |
Total expenses | 4,545,868 |
Less: Fee waivers and/or expense reimbursements | |
Fund-level | (680,417) |
Class A | (129,658) |
Class C | (3,327) |
Class R | (277) |
Administrator Class | (3) |
Institutional Class | (83,345) |
Net expenses | 3,648,841 |
Net investment income | 6,244,012 |
Realized and unrealized gains (losses) on investments | |
Net realized losses on investments | (11,970,649) |
Net change in unrealized gains (losses) on investments (net of deferred foreign capital gain tax of $144,336) | (89,838,466) |
Net realized and unrealized gains (losses) on investments | (101,809,115) |
Net decrease in net assets resulting from operations | $ (95,565,103) |
Year ended October 31, 2022 | Year ended October 31, 2021 | |||
Operations | ||||
Net investment income | $ 6,244,012 | $ 6,379,919 | ||
Net realized gains (losses) on investments | (11,970,649) | 20,151,780 | ||
Net change in unrealized gains (losses) on investments | (89,838,466) | 30,643,586 | ||
Net increase (decrease) in net assets resulting from operations | (95,565,103) | 57,175,285 | ||
Distributions to shareholders from | ||||
Net investment income and net realized gains | ||||
Class A | (3,279,726) | (2,333,735) | ||
Class C | (53,251) | (37,942) | ||
Class R | (4,783) | (3,874) | ||
Class R6 | (1,470,779) | (743,317) | ||
Administrator Class | (257,832) | (186,179) | ||
Institutional Class | (4,764,928) | (3,248,675) | ||
Tax basis return of capital | ||||
Class A | (186,969) | 0 | ||
Class C | (6,168) | 0 | ||
Class R | (399) | 0 | ||
Class R6 | (64,599) | 0 | ||
Administrator Class | (14,683) | 0 | ||
Institutional Class | (216,333) | 0 | ||
Total distributions to shareholders | (10,320,450) | (6,553,722) | ||
Capital share transactions | Shares | Shares | ||
Proceeds from shares sold | ||||
Class A | 676,493 | 7,836,254 | 546,840 | 7,198,490 |
Class C | 13,684 | 163,351 | 19,692 | 262,480 |
Class R | 10,483 | 124,341 | 2,396 | 31,876 |
Class R6 | 317,223 | 3,659,212 | 4,197,644 | 55,794,111 |
Administrator Class | 13,227 | 159,292 | 855,147 | 10,999,599 |
Institutional Class | 1,905,612 | 22,686,107 | 2,754,059 | 36,222,608 |
34,628,557 | 110,509,164 | |||
Reinvestment of distributions | ||||
Class A | 292,324 | 3,349,903 | 167,319 | 2,239,157 |
Class C | 5,164 | 57,567 | 2,783 | 37,100 |
Class R | 439 | 4,979 | 285 | 3,863 |
Class R6 | 40,633 | 463,617 | 22,455 | 294,741 |
Administrator Class | 23,834 | 270,025 | 13,879 | 184,647 |
Institutional Class | 424,071 | 4,848,935 | 231,283 | 3,061,679 |
8,995,026 | 5,821,187 | |||
Payment for shares redeemed | ||||
Class A | (2,121,369) | (24,829,961) | (1,802,046) | (24,130,382) |
Class C | (176,928) | (2,107,596) | (166,666) | (2,159,388) |
Class R | (7,128) | (91,018) | (6,106) | (84,410) |
Class R6 | (294,973) | (3,327,619) | (6,059,973) | (81,589,088) |
Administrator Class | (282,466) | (3,443,810) | (158,450) | (2,098,208) |
Institutional Class | (4,022,876) | (44,955,655) | (3,586,322) | (47,206,208) |
(78,755,659) | (157,267,684) |
Year ended October 31, 2022 | Year ended October 31, 2021 | |||
Net asset value of shares issued in acquisition | ||||
Class A | 0 | 0 | 7,842,133 | 105,650,203 |
Class C | 0 | 0 | 73,140 | 973,663 |
Class R6 | 0 | 0 | 2,957,505 | 39,381,406 |
Administrator Class | 0 | 0 | 354,359 | 4,729,637 |
Institutional Class | 0 | 0 | 6,852,407 | 92,322,186 |
0 | 243,057,095 | |||
Net increase (decrease) in net assets resulting from capital share transactions | (35,132,076) | 202,119,762 | ||
Total increase (decrease) in net assets | (141,017,629) | 252,741,325 | ||
Net assets | ||||
Beginning of period | 440,283,858 | 187,542,533 | ||
End of period | $ 299,266,229 | $ 440,283,858 |
Year ended October 31 | |||||
Class A | 2022 | 2021 | 2020 | 2019 | 2018 |
Net asset value, beginning of period | $13.34 | $10.43 | $11.38 | $11.81 | $13.43 |
Net investment income | 0.16 | 0.23 1 | 0.12 | 0.24 1 | 0.27 |
Net realized and unrealized gains (losses) on investments | (3.17) | 2.89 | (0.97) | (0.16) | (1.40) |
Total from investment operations | (3.01) | 3.12 | (0.85) | 0.08 | (1.13) |
Distributions to shareholders from | |||||
Net investment income | (0.27) | (0.21) | (0.10) | (0.51) | (0.49) |
Tax basis return of capital | (0.02) | 0.00 | 0.00 | 0.00 | 0.00 |
Total distributions to shareholders | (0.29) | (0.21) | (0.10) | (0.51) | (0.49) |
Net asset value, end of period | $10.04 | $13.34 | $10.43 | $11.38 | $11.81 |
Total return2 | (22.84)% | 29.92% | (7.54)% | 0.93% | (8.81)% |
Ratios to average net assets (annualized) | |||||
Gross expenses | 1.40% | 1.36% | 1.48% | 1.45% | 1.39% |
Net expenses | 1.13% | 1.13% | 1.13% | 1.14% | 1.14% |
Net investment income | 1.50% | 1.73% | 1.12% | 2.13% | 1.97% |
Supplemental data | |||||
Portfolio turnover rate | 58% | 95% | 73% | 49% | 62% |
Net assets, end of period (000s omitted) | $116,735 | $170,419 | $62,800 | $81,110 | $91,206 |
1 | Calculated based upon average shares outstanding |
2 | Total return calculations do not include any sales charges. |
Year ended October 31 | |||||
Class C | 2022 | 2021 | 2020 | 2019 | 2018 |
Net asset value, beginning of period | $13.22 | $10.31 | $11.28 | $11.57 | $13.13 |
Net investment income | 0.09 1 | 0.09 1 | 0.03 1 | 0.12 1 | 0.15 |
Net realized and unrealized gains (losses) on investments | (3.17) | 2.89 | (0.95) | (0.12) | (1.35) |
Total from investment operations | (3.08) | 2.98 | (0.92) | 0.00 | (1.20) |
Distributions to shareholders from | |||||
Net investment income | (0.13) | (0.07) | (0.05) | (0.29) | (0.36) |
Tax basis return of capital | (0.02) | 0.00 | 0.00 | 0.00 | 0.00 |
Total distributions to shareholders | (0.15) | (0.07) | (0.05) | (0.29) | (0.36) |
Net asset value, end of period | $9.99 | $13.22 | $10.31 | $11.28 | $11.57 |
Total return2 | (23.38)% | 28.94% | (8.22)% | 0.16% | (9.47)% |
Ratios to average net assets (annualized) | |||||
Gross expenses | 2.14% | 2.12% | 2.22% | 2.19% | 2.14% |
Net expenses | 1.89% | 1.89% | 1.89% | 1.89% | 1.89% |
Net investment income | 0.76% | 0.72% | 0.28% | 1.07% | 1.22% |
Supplemental data | |||||
Portfolio turnover rate | 58% | 95% | 73% | 49% | 62% |
Net assets, end of period (000s omitted) | $3,324 | $6,490 | $5,794 | $10,700 | $22,963 |
1 | Calculated based upon average shares outstanding |
2 | Total return calculations do not include any sales charges. |
Year ended October 31 | |||||
Class R | 2022 | 2021 | 2020 | 2019 | 2018 |
Net asset value, beginning of period | $13.65 | $10.65 | $11.61 | $11.98 | $13.58 |
Net investment income | 0.15 1 | 0.16 1 | 0.07 1 | 0.22 1 | 0.23 1 |
Net realized and unrealized gains (losses) on investments | (3.27) | 3.00 | (0.97) | (0.15) | (1.41) |
Total from investment operations | (3.12) | 3.16 | (0.90) | 0.07 | (1.18) |
Distributions to shareholders from | |||||
Net investment income | (0.19) | (0.16) | (0.06) | (0.44) | (0.42) |
Tax basis return of capital | (0.02) | 0.00 | 0.00 | 0.00 | 0.00 |
Total distributions to shareholders | (0.21) | (0.16) | (0.06) | (0.44) | (0.42) |
Net asset value, end of period | $10.32 | $13.65 | $10.65 | $11.61 | $11.98 |
Total return | (22.98)% | 29.67% | (7.84)% | 0.79% | (9.03)% |
Ratios to average net assets (annualized) | |||||
Gross expenses | 1.66% | 1.61% | 1.67% | 1.64% | 1.64% |
Net expenses | 1.39% | 1.39% | 1.39% | 1.37% | 1.39% |
Net investment income | 1.24% | 1.19% | 0.64% | 1.88% | 1.72% |
Supplemental data | |||||
Portfolio turnover rate | 58% | 95% | 73% | 49% | 62% |
Net assets, end of period (000s omitted) | $291 | $333 | $297 | $794 | $1,404 |
1 | Calculated based upon average shares outstanding |
Year ended October 31 | |||||
Class R6 | 2022 | 2021 | 2020 | 2019 | 2018 |
Net asset value, beginning of period | $13.22 | $10.36 | $11.31 | $11.79 | $13.44 |
Net investment income | 0.22 | 0.31 | 0.16 | 0.35 | 0.31 |
Net realized and unrealized gains (losses) on investments | (3.16) | 2.81 | (0.96) | (0.23) | (1.40) |
Total from investment operations | (2.94) | 3.12 | (0.80) | 0.12 | (1.09) |
Distributions to shareholders from | |||||
Net investment income | (0.34) | (0.26) | (0.15) | (0.60) | (0.56) |
Tax basis return of capital | (0.02) | 0.00 | 0.00 | 0.00 | 0.00 |
Total distributions to shareholders | (0.36) | (0.26) | (0.15) | (0.60) | (0.56) |
Net asset value, end of period | $9.92 | $13.22 | $10.36 | $11.31 | $11.79 |
Total return | (22.56)% | 30.17% | (7.15)% | 1.27% | (8.57)% |
Ratios to average net assets (annualized) | |||||
Gross expenses | 0.97% | 0.95% | 1.05% | 1.01% | 0.96% |
Net expenses | 0.79% | 0.79% | 0.79% | 0.81% | 0.84% |
Net investment income | 1.83% | 1.70% | 1.51% | 2.23% | 2.23% |
Supplemental data | |||||
Portfolio turnover rate | 58% | 95% | 73% | 49% | 62% |
Net assets, end of period (000s omitted) | $42,385 | $55,639 | $32,011 | $36,505 | $63,414 |
Year ended October 31 | |||||
Administrator Class | 2022 | 2021 | 2020 | 2019 | 2018 |
Net asset value, beginning of period | $13.13 | $10.28 | $11.22 | $11.62 | $13.20 |
Net investment income | 0.18 1 | 0.27 1 | 0.10 1 | 0.23 1 | 0.20 1 |
Net realized and unrealized gains (losses) on investments | (3.14) | 2.80 | (0.94) | (0.14) | (1.31) |
Total from investment operations | (2.96) | 3.07 | (0.84) | 0.09 | (1.11) |
Distributions to shareholders from | |||||
Net investment income | (0.27) | (0.22) | (0.10) | (0.49) | (0.47) |
Tax basis return of capital | (0.02) | 0.00 | 0.00 | 0.00 | 0.00 |
Total distributions to shareholders | (0.29) | (0.22) | (0.10) | (0.49) | (0.47) |
Net asset value, end of period | $9.88 | $13.13 | $10.28 | $11.22 | $11.62 |
Total return | (22.81)% | 29.87% | (7.54)% | 0.98% | (8.79)% |
Ratios to average net assets (annualized) | |||||
Gross expenses | 1.32% | 1.26% | 1.39% | 1.36% | 1.31% |
Net expenses | 1.14% | 1.14% | 1.14% | 1.14% | 1.14% |
Net investment income | 1.51% | 2.06% | 0.98% | 2.00% | 1.53% |
Supplemental data | |||||
Portfolio turnover rate | 58% | 95% | 73% | 49% | 62% |
Net assets, end of period (000s omitted) | $8,662 | $14,733 | $589 | $1,189 | $5,152 |
1 | Calculated based upon average shares outstanding |
Year ended October 31 | |||||
Institutional Class | 2022 | 2021 | 2020 | 2019 | 2018 |
Net asset value, beginning of period | $13.22 | $10.34 | $11.29 | $11.76 | $13.40 |
Net investment income | 0.22 1 | 0.25 1 | 0.14 1 | 0.33 | 0.30 1 |
Net realized and unrealized gains (losses) on investments | (3.16) | 2.88 | (0.96) | (0.22) | (1.39) |
Total from investment operations | (2.94) | 3.13 | (0.82) | 0.11 | (1.09) |
Distributions to shareholders from | |||||
Net investment income | (0.33) | (0.25) | (0.13) | (0.58) | (0.55) |
Tax basis return of capital | (0.02) | 0.00 | 0.00 | 0.00 | 0.00 |
Total distributions to shareholders | (0.35) | (0.25) | (0.13) | (0.58) | (0.55) |
Net asset value, end of period | $9.93 | $13.22 | $10.34 | $11.29 | $11.76 |
Total return | (22.56)% | 30.30% | (7.28)% | 1.19% | (8.56)% |
Ratios to average net assets (annualized) | |||||
Gross expenses | 1.07% | 1.03% | 1.15% | 1.11% | 1.06% |
Net expenses | 0.84% | 0.84% | 0.84% | 0.86% | 0.89% |
Net investment income | 1.79% | 1.93% | 1.33% | 2.27% | 2.31% |
Supplemental data | |||||
Portfolio turnover rate | 58% | 95% | 73% | 49% | 62% |
Net assets, end of period (000s omitted) | $127,869 | $192,670 | $86,052 | $150,749 | $243,235 |
1 | Calculated based upon average shares outstanding |
Gross unrealized gains | $ 25,082,409 |
Gross unrealized losses | (61,423,057) |
Net unrealized losses | $(36,340,648) |
■ | Level 1 – quoted prices in active markets for identical securities |
■ | Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.) |
■ | Level 3 – significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments) |
Quoted prices (Level 1) | Other significant observable inputs (Level 2) | Significant unobservable inputs (Level 3) | Total | |
Assets | ||||
Investments in: | ||||
Common stocks | ||||
Australia | $ 6,818,503 | $0 | $0 | $ 6,818,503 |
Brazil | 6,231,671 | 0 | 0 | 6,231,671 |
Canada | 5,870,011 | 0 | 0 | 5,870,011 |
China | 22,810,953 | 0 | 0 | 22,810,953 |
France | 17,534,542 | 0 | 0 | 17,534,542 |
Germany | 8,484,247 | 0 | 0 | 8,484,247 |
Hong Kong | 2,065,124 | 0 | 0 | 2,065,124 |
India | 5,304,276 | 0 | 0 | 5,304,276 |
Ireland | 6,018,602 | 0 | 0 | 6,018,602 |
Israel | 9,719,647 | 0 | 0 | 9,719,647 |
Italy | 14,369,615 | 0 | 0 | 14,369,615 |
Japan | 36,413,262 | 0 | 0 | 36,413,262 |
Netherlands | 18,646,703 | 0 | 0 | 18,646,703 |
Norway | 8,100,750 | 0 | 0 | 8,100,750 |
South Korea | 27,158,083 | 0 | 0 | 27,158,083 |
Thailand | 13,960,276 | 0 | 0 | 13,960,276 |
United Kingdom | 37,211,055 | 0 | 0 | 37,211,055 |
United States | 33,312,388 | 0 | 0 | 33,312,388 |
Investment companies | 7,131,820 | 0 | 0 | 7,131,820 |
Short-term investments | ||||
Investment companies | 11,490,607 | 0 | 0 | 11,490,607 |
Total assets | $298,652,135 | $0 | $0 | $298,652,135 |
Average daily net assets | Management fee |
First $1 billion | 0.800% |
Next $1 billion | 0.750 |
Next $2 billion | 0.725 |
Next $1 billion | 0.700 |
Next $5 billion | 0.690 |
Over $10 billion | 0.680 |
Average daily net assets | Management fee |
First $500 million | 0.850% |
Next $500 million | 0.800 |
First $1 billion | 0.750 |
Next $2 billion | 0.725 |
Next $1 billion | 0.700 |
Next $5 billion | 0.690 |
Over $10 billion | 0.680 |
Class-level administration fee | |
Class A | 0.21% |
Class C | 0.21 |
Class R | 0.21 |
Class R6 | 0.03 |
Administrator Class | 0.13 |
Institutional Class | 0.13 |
Expense ratio caps | |
Class A | 1.14% |
Class C | 1.89 |
Class R | 1.39 |
Class R6 | 0.79 |
Administrator Class | 1.14 |
Institutional Class | 0.84 |
Counterparty | Value of securities on loan | Collateral received1 | Net amount |
Bank of America Securities Incorporated | $6,420,100 | $(6,420,100) | $0 |
JPMorgan Securities LLC | 149,112 | (149,112) | 0 |
Acquired funds | Value of net assets acquired | Unrealized gains/losses | Exchange ratio | Number of shares issued | |
International Value Fund | $156,960,476 | $ 944,231 | 1.12 | 3,910,472 | Class A |
1.11 | 31,972 | Class C | |||
1.12 | 871,897 | Class R6 | |||
1.15 | 287,858 | Administrator Class | |||
1.12 | 6,503,392 | Institutional Class | |||
Diversified International Fund | 86,096,619 | 9,802,157 | 1.00 | 3,931,661 | Class A |
0.93 | 41,168 | Class C | |||
1.03 | 2,085,608 | Class R6 | |||
1.04 | 66,501 | Administrator Class | |||
0.95 | 349,015 | Institutional Class |
Net investment income | $ 8,499,421 |
Net realized and unrealized gains (losses) on investments | 73,806,265 |
Net increase in net assets resulting from operations | $82,305,686 |
Year ended October 31 | ||
2022 | 2021 | |
Ordinary income | $ 9,831,299 | $ 6,553,722 |
Tax basis return of capital | 489,151 | 0 |
Capital loss Carryforwards | Unrealized losses |
$(94,312,472) | $(36,672,392) |
Allspring Funds Trust:
![](https://capedge.com/proxy/N-CSR/0001193125-23-001376/g413962img37a456ca7.jpg)
Name and year of birth | Position held and length of service* | Principal occupations during past five years or longer | Current other public company or investment company directorships |
William R. Ebsworth (Born 1957) | Trustee, since 2015 | Retired. From 1984 to 2013, equities analyst, portfolio manager, research director and chief investment officer at Fidelity Management and Research Company in Boston, Tokyo, and Hong Kong, and retired in 2013 as Chief Investment Officer of Fidelity Strategic Advisers, Inc. where he led a team of investment professionals managing client assets. Prior thereto, Board member of Hong Kong Securities Clearing Co., Hong Kong Options Clearing Corp., the Thailand International Fund, Ltd., Fidelity Investments Life Insurance Company, and Empire Fidelity Investments Life Insurance Company. Audit Committee Chair and Investment Committee Chair of the Vincent Memorial Hospital Endowment (non-profit organization). Mr. Ebsworth is a CFA® charterholder. | N/A |
Jane A. Freeman (Born 1953) | Trustee, since 2015; Chair Liaison, since 2018 | Retired. From 2012 to 2014 and 1999 to 2008, Chief Financial Officer of Scientific Learning Corporation. From 2008 to 2012, Ms. Freeman provided consulting services related to strategic business projects. Prior to 1999, Portfolio Manager at Rockefeller & Co. and Scudder, Stevens & Clark. Board member of the Harding Loevner Funds from 1996 to 2014, serving as both Lead Independent Director and chair of the Audit Committee. Board member of the Russell Exchange Traded Funds Trust from 2011 to 2012 and the chair of the Audit Committee. Ms. Freeman is also an inactive Chartered Financial Analyst. | N/A |
Isaiah Harris, Jr. (Born 1952) | Trustee, since 2009; Audit Committee Chair, since 2019 | Retired. Chairman of the Board of CIGNA Corporation from 2009 to 2021, and Director from 2005 to 2008. From 2003 to 2011, Director of Deluxe Corporation. Prior thereto, President and CEO of BellSouth Advertising and Publishing Corp. from 2005 to 2007, President and CEO of BellSouth Enterprises from 2004 to 2005 and President of BellSouth Consumer Services from 2000 to 2003. Emeritus member of the Iowa State University Foundation Board of Governors. Emeritus Member of the Advisory Board of Iowa State University School of Business. Advisory Board Member, Palm Harbor Academy (private school). Advisory Board Member, Fellowship of Christian Athletes. Mr. Harris is a certified public accountant (inactive status). | N/A |
David F. Larcker (Born 1950) | Trustee, since 2009 | James Irvin Miller Professor of Accounting at the Graduate School of Business (Emeritus), Stanford University, Director of the Corporate Governance Research Initiative and Senior Faculty of The Rock Center for Corporate Governance since 2006. From 2005 to 2008, Professor of Accounting at the Graduate School of Business, Stanford University. Prior thereto, Ernst & Young Professor of Accounting at The Wharton School, University of Pennsylvania from 1985 to 2005. | N/A |
Name and year of birth | Position held and length of service* | Principal occupations during past five years or longer | Current other public company or investment company directorships |
Olivia S. Mitchell (Born 1953) | Trustee, since 2006; Nominating and Governance Committee Chair, since 2018 | International Foundation of Employee Benefit Plans Professor since 1993, Wharton School of the University of Pennsylvania. Director of Wharton’s Pension Research Council and Boettner Center on Pensions & Retirement Research, and Research Associate at the National Bureau of Economic Research. Previously taught at Cornell University from 1978 to 1993. | N/A |
Timothy J. Penny (Born 1951) | Trustee, since 1996; Chair, since 2018 | President and Chief Executive Officer of Southern Minnesota Initiative Foundation, a non-profit organization, since 2007. Vice Chair of the Economic Club of Minnesota, since 2007. Co-Chair of the Committee for a Responsible Federal Budget, since 1995. Member of the Board of Trustees of NorthStar Education Finance, Inc., a non-profit organization, since 2007. Senior Fellow of the University of Minnesota Humphrey Institute from 1995 to 2017. | N/A |
James G. Polisson (Born 1959) | Trustee, since 2018 | Retired. Chief Marketing Officer, Source (ETF) UK Services, Ltd, from 2015 to 2017. From 2012 to 2015, Principal of The Polisson Group, LLC, a management consulting, corporate advisory and principal investing company. Chief Executive Officer and Managing Director at Russell Investments, Global Exchange Traded Funds from 2010 to 2012. Managing Director of Barclays Global Investors from 1998 to 2010 and Global Chief Marketing Officer for iShares and Barclays Global Investors from 2000 to 2010. Trustee of the San Francisco Mechanics’ Institute, a non-profit organization, from 2013 to 2015. Board member of the Russell Exchange Traded Fund Trust from 2011 to 2012. Director of Barclays Global Investors Holdings Deutschland GmbH from 2006 to 2009. Mr. Polisson is an attorney and has a retired status with the Massachusetts and District of Columbia Bar Associations. | N/A |
Pamela Wheelock (Born 1959) | Trustee, since January 2020; previously Trustee from January 2018 to July 2019 | Retired. Executive and Senior Financial leadership positions in the public, private and nonprofit sectors. Interim President and CEO, McKnight Foundation, 2020. Interim Commissioner, Minnesota Department of Human Services, 2019. Chief Operating Officer, Twin Cities Habitat for Humanity, 2017-2019. Vice President for University Services, University of Minnesota, 2012-2016. Interim President and CEO, Blue Cross and Blue Shield of Minnesota, 2011-2012. Executive Vice-President and Chief Financial Officer, Minnesota Wild, 2002-2008. Commissioner, Minnesota Department of Finance, 1999-2002. Chair of the Board of Directors of Destination Medical Center Corporation. Board member of the Minnesota Wild Foundation. | N/A |
Name and year of birth | Position held and length of service | Principal occupations during past five years or longer |
Andrew Owen (Born 1960) | President, since 2017 | President and Chief Executive Officer of Allspring Funds Management, LLC since 2017 and Head of Global Fund Governance of Allspring Global Investments since 2022. Prior thereto, co-president of Galliard Capital Management, LLC, an affiliate of Allspring Funds Management, LLC, from 2019 to 2022 and Head of Affiliated Managers, Allspring Global Investments, from 2014 to 2019 and Executive Vice President responsible for marketing, investments and product development for Allspring Funds Management, LLC, from 2009 to 2014. |
Jeremy DePalma (Born 1974) | Treasurer, since 2012 (for certain funds in the Fund Complex); since 2021 (for the remaining funds in the Fund Complex) | Senior Vice President of Allspring Funds Management, LLC since 2009. Senior Vice President of Evergreen Investment Management Company, LLC from 2008 to 2010 and head of the Fund Reporting and Control Team within Fund Administration from 2005 to 2010. |
Christopher Baker (Born 1976) | Chief Compliance Officer, since 2022 | Global Chief Compliance Officer for Allspring Global Investments since 2022. Prior thereto, Chief Compliance Officer for State Street Global Advisors from 2018 to 2021. Senior Compliance Officer for the State Street divisions of Alternative Investment Solutions, Sector Solutions, and Global Marketing from 2015 to 2018. From 2010 to 2015 Vice President, Global Head of Investment and Marketing Compliance for State Street Global Advisors. |
Matthew Prasse (Born 1983) | Chief Legal Officer, since 2022; Secretary, since 2021 | Senior Counsel of the Allspring Legal Department since 2021. Senior Counsel of the Wells Fargo Legal Department from 2018 to 2021. Previously, Counsel for Barings LLC from 2015 to 2018. Prior to joining Barings, Associate at Morgan, Lewis & Bockius LLP from 2008 to 2015. |
![](https://capedge.com/proxy/N-CSR/0001193125-23-001376/g413962img4221f4b71.jpg)
P.O. Box 219967
Kansas City, MO 64121-9967
![](https://capedge.com/proxy/N-CSR/0001193125-23-001376/g413962img850f41308.jpg)
1-800-222-8222 or visit the Fund's website at allspringglobal.com. Read the prospectus carefully before you invest or send money.
A240/AR240 10-22
![](https://capedge.com/proxy/N-CSR/0001193125-23-001376/g417266img3a7e52161.jpg)
2 | |
6 | |
10 | |
11 | |
Financial statements | |
15 | |
16 | |
17 | |
18 | |
22 | |
28 | |
29 |
![](https://capedge.com/proxy/N-CSR/0001193125-23-001376/g417266img75a6f4572.gif)
1 | The S&P 500 Index consists of 500 stocks chosen for market size, liquidity, and industry group representation. It is a market-value-weighted index with each stock's weight in the index proportionate to its market value. You cannot invest directly in an index. |
2 | The Morgan Stanley Capital International (MSCI) All Country World Index (ACWI) ex USA Index (Net) is a free-float-adjusted market-capitalization-weighted index that is designed to measure the equity market performance of developed and emerging markets, excluding the U.S. Source: MSCI. MSCI makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein. The MSCI data may not be further redistributed or used as a basis for other indexes or any securities or financial products. This report is not approved, reviewed, or produced by MSCI. You cannot invest directly in an index. |
3 | The MSCI Emerging Markets (EM) Index (Net) (USD) is a free-float-adjusted market-capitalization-weighted index that is designed to measure equity market performance of emerging markets. You cannot invest directly in an index. |
4 | The Bloomberg U.S. Aggregate Bond Index is a broad-based benchmark that measures the investment-grade, U.S.-dollar-denominated, fixed-rate taxable bond market, including Treasuries, government-related and corporate securities, mortgage-backed securities (agency fixed-rate and hybrid adjustable-rate mortgage pass-throughs), asset-backed securities, and commercial mortgage-backed securities. You cannot invest directly in an index. |
5 | The Bloomberg Global Aggregate ex-USD Index (unhedged) is an unmanaged index that provides a broad-based measure of the global investment-grade fixed-income markets excluding the U.S.-dollar-denominated debt market. You cannot invest directly in an index. |
6 | The Bloomberg Municipal Bond Index is an unmanaged index composed of long-term tax-exempt bonds with a minimum credit rating of Baa. You cannot invest directly in an index. |
7 | The ICE BofA U.S. High Yield Index is a market-capitalization-weighted index of domestic and Yankee high-yield bonds. The index tracks the performance of high-yield securities traded in the U.S. bond market. You cannot invest directly in an index. Copyright 2022. ICE Data Indices, LLC. All rights reserved. |
8 | The Consumer Price Index (CPI) is a measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services. You cannot invest directly in an index. |
1 | The MSCI ACWI (Net) is a free-float-adjusted market-capitalization-weighted index that is designed to measure the equity market performance of developed and emerging markets. You cannot invest directly in an index. |
![](https://capedge.com/proxy/N-CSR/0001193125-23-001376/g417266imgb5a91fae3.jpg)
President
Allspring Funds
Investment objective | The Fund seeks long-term capital appreciation. |
Manager | Allspring Funds Management, LLC |
Subadviser | Allspring Global Investments, LLC |
Portfolio managers | Stephen Giggie, CFA®‡, Oleg Makhorine, James Tringas, CFA®‡, Bryant VanCronkhite, CFA®‡, CPA |
Average annual total returns (%) as of October 31, 2022 | |||||||||
Including sales charge | Excluding sales charge | Expense ratios1(%) | |||||||
Inception date | 1 year | Since inception | 1 year | Since inception | Gross | Net 2 | |||
Class A (ASPAX)3 | 6-1-2022 | -34.71 | -2.18 | -30.73 | -0.47 | 2.13 | 1.39 | ||
Class C (ACPCX)4 | 6-1-2022 | -32.25 | -1.22 | -31.25 | -1.22 | 2.88 | 2.14 | ||
Class R6 (WICRX) | 5-31-2019 | - | - | -30.47 | -0.07 | 1.70 | 0.96 | ||
Institutional Class (WICIX) | 5-31-2019 | - | - | -30.60 | -0.18 | 1.80 | 1.06 | ||
MSCI World ex U.S. Small Cap Index (Net)5 | – | - | - | -29.13 | 1.39* | - | - |
* | Based on the inception date of the oldest Fund class. |
1 | Reflects the expense ratios as stated in the most recent prospectuses, which include the impact of 0.01% in acquired fund fees and expenses. The expense ratios shown are subject to change and may differ from the annualized expense ratios shown in the financial highlights of this report, which do not include acquired fund fees and expenses. |
2 | The manager has contractually committed through February 29, 2024, to waive fees and/or reimburse expenses to the extent necessary to cap total annual fund operating expenses after fee waivers at 1.38% for Class A, 2.13% for Class C, 0.95% for Class R6, and 1.05% for Institutional Class. Brokerage commissions, stamp duty fees, interest, taxes, acquired fund fees and expenses (if any), and extraordinary expenses are excluded from the expense caps. Prior to or after the commitment expiration date, the caps may be increased or the commitment to maintain the caps may be terminated only with the approval of the Board of Trustees. Without these caps, the Fund’s returns would have been lower. The expense ratio paid by an investor is the net expense ratio (the total annual fund operating expenses after fee waivers) as stated in the prospectuses. |
3 | Historical performance shown for the Class A shares prior to their inception reflects the performance of the Institutional Class shares and includes the higher expenses applicable to the Class A shares. |
4 | Historical performance shown for the Class C shares prior to their inception reflects the performance of the Institutional Class shares and includes the higher expenses applicable to the Class C shares. |
5 | The Morgan Stanley Capital International (MSCI) World ex U.S. Small Cap Index (Net) is a free-float-adjusted market-capitalization-weighted index that is designed to measure the equity market performance of developed markets excluding the U.S. Source: MSCI. MSCI makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein. The MSCI data may not be further redistributed or used as a basis for other indices or any securities or financial products. This report is not approved, reviewed, or produced by MSCI. You cannot invest directly in an index. |
‡ | CFA® and Chartered Financial Analyst® are trademarks owned by CFA Institute. |
![](https://capedge.com/proxy/N-CSR/0001193125-23-001376/g417266img087bc7564.gif)
1 | The chart compares the performance of Class A shares since inception of the Institutional Class on May 31, 2019 with the MSCI World ex U.S. Small Cap Index (Net). The chart assumes a hypothetical investment of $10,000 in Class A shares and reflects all operating expenses and assumes the maximum initial sales charge of 5.75%. |
■ | The Fund underperformed its benchmark, the MSCI World ex U.S. Small Cap Index (Net), over the trailing one-year period, as of October 31, 2022. |
■ | Stock selection in the consumer discretionary and communication services sectors detracted from relative performance. |
■ | Regionally, security selection in the U.K. as well as an overweight to the U.K. and Europe detracted while security selection in Japan and Canada contributed. |
■ | Stock selection in the information technology (IT) and consumer staples sectors contributed to relative performance. |
Ten largest holdings (%) as of October 31, 20221 | |
Ansell Limited | 4.33 |
Spectris plc | 4.23 |
Alten SA | 4.05 |
Vanguard FTSE ETF | 3.92 |
iShares MSCI EAFE Small Cap ETF | 3.92 |
Viscofan SA | 3.74 |
Orix JREIT Incorporated | 2.95 |
Meitec Corporation | 2.73 |
DTS Corporation | 2.39 |
Aeon Delight Company Limited | 2.29 |
1 | Figures represent the percentage of the Fund's net assets. Holdings are subject to change and may have changed since the date specified. |
Sector allocation as of October 31, 20221 |
![](https://capedge.com/proxy/N-CSR/0001193125-23-001376/g417266imgf048389c5.jpg)
1 | Figures represent the percentage of the Fund's long-term investments. Allocations are subject to change and may have changed since the date specified. |
Geographic allocation as of October 31, 20221 |
![](https://capedge.com/proxy/N-CSR/0001193125-23-001376/g417266img00e937ab6.jpg)
1 | Figures represent the percentage of the Fund's long-term investments. Allocations are subject to change and may have changed since the date specified. |
Beginning account value 5-1-2022 | Ending account value 10-31-2022 | Expenses paid during the period1 | Annualized net expense ratio | |
Class A | ||||
Actual | $1,000.00 | $ 884.04 | $6.55 | 1.38% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,018.25 | $7.02 | 1.38% |
Class C | ||||
Actual | $1,000.00 | $ 880.48 | $9.29 | 1.96% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,015.32 | $9.96 | 1.96% |
Class R6 | ||||
Actual | $1,000.00 | $ 884.87 | $4.51 | 0.95% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,020.42 | $4.84 | 0.95% |
Institutional Class | ||||
Actual | $1,000.00 | $ 884.04 | $4.99 | 1.05% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,019.91 | $5.35 | 1.05% |
Shares | Value | |||||
Common stocks: 88.18% | ||||||
Australia: 6.16% | ||||||
Ansell Limited (Health care, Health care equipment & supplies) | 397,947 | $ 7,185,856 | ||||
Inghams Group Limited (Consumer staples, Food products) | 946,039 | 1,530,989 | ||||
Orora Limited (Materials, Containers & packaging) | 778,390 | 1,508,628 | ||||
10,225,473 | ||||||
Austria: 0.77% | ||||||
Mayr-Melnhof Karton AG (Materials, Containers & packaging) | 9,018 | 1,283,333 | ||||
Belgium: 3.03% | ||||||
Azelis Group NV (Industrials, Trading companies & distributors) | 68,519 | 1,568,254 | ||||
Barco NV (Information technology, Electronic equipment, instruments & components) | 159,967 | 3,455,789 | ||||
5,024,043 | ||||||
Canada: 7.32% | ||||||
ATS Automation Tooling Systems (Industrials, Machinery) † | 61,200 | 1,936,154 | ||||
Canadian Western Bank (Financials, Banks) | 138,200 | 2,404,184 | ||||
Finning International Incorporated (Industrials, Trading companies & distributors) | 67,000 | 1,424,737 | ||||
Peairiesky Royalty Limited (Energy, Oil, gas & consumable fuels) | 203,200 | 3,156,099 | ||||
Primo Water Corporation (Consumer staples, Beverages) | 220,725 | 3,217,674 | ||||
12,138,848 | ||||||
France: 4.72% | ||||||
Alten SA (Information technology, IT services) | 57,396 | 6,710,163 | ||||
M6 Métropole Télévision SA (Communication services, Media) | 107,804 | 1,115,445 | ||||
7,825,608 | ||||||
Germany: 6.53% | ||||||
Cancom SE (Information technology, IT services) | 86,670 | 2,144,716 | ||||
Gerresheimer AG (Health care, Life sciences tools & services) | 37,685 | 2,160,047 | ||||
Krones AG (Industrials, Machinery) | 30,268 | 2,804,282 | ||||
MYT Netherlands Parent BV ADR (Consumer discretionary, Specialty retail) †« | 93,702 | 1,071,014 | ||||
Stabilus SE (Industrials, Machinery) | 17,051 | 936,053 | ||||
TAG Immobilien AG (Real estate, Real estate management & development) | 275,265 | 1,726,034 | ||||
10,842,146 | ||||||
Ireland: 0.81% | ||||||
Irish Residential Properties REIT plc (Real estate, Equity REITs) | 1,243,029 | 1,343,895 | ||||
Italy: 5.71% | ||||||
Azimut Holding SpA (Financials, Capital markets) | 80,628 | 1,298,794 | ||||
Buzzi Unicem SpA (Materials, Construction materials) | 117,519 | 1,950,540 | ||||
De'Longhi SpA (Consumer discretionary, Household durables) | 104,176 | 1,798,570 | ||||
GVS SpA (Industrials, Machinery) † | 384,937 | 1,974,348 | ||||
Interpump Group SpA (Industrials, Machinery) | 63,285 | 2,450,371 | ||||
9,472,623 | ||||||
Japan: 22.45% | ||||||
Aeon Delight Company Limited (Industrials, Commercial services & supplies) | 190,200 | 3,804,128 | ||||
Daiseki Company Limited (Industrials, Commercial services & supplies) | 109,060 | 3,373,859 | ||||
DTS Corporation (Information technology, IT services) | 166,200 | 3,956,744 |
Shares | Value | |||||
Japan: (continued) | ||||||
Ezaki Glico Company Limited (Consumer staples, Food products) | 34,300 | $ 771,603 | ||||
Fuji Seal International Incorporated (Materials, Containers & packaging) | 168,000 | 1,969,293 | ||||
Horiba Limited (Information technology, Electronic equipment, instruments & components) | 49,400 | 2,033,209 | ||||
Kamigumi Company Limited (Industrials, Transportation infrastructure) | 111,800 | 2,126,301 | ||||
Meitec Corporation (Industrials, Professional services) | 268,900 | 4,537,275 | ||||
Nihon Parkerizing Company Limited (Materials, Chemicals) | 230,300 | 1,499,246 | ||||
Orix JREIT Incorporated (Real estate, Equity REITs) | 3,648 | 4,894,421 | ||||
PHC Holdings Corporation (Health care, Health care equipment & supplies) | 82,200 | 853,538 | ||||
San-A Company Limited (Consumer staples, Food & staples retailing) | 81,800 | 2,384,767 | ||||
Sohgo Security Services Company Limited (Industrials, Commercial services & supplies) | 53,400 | 1,332,351 | ||||
Sumitomo Warehouse Company Limited (Industrials, Transportation infrastructure) | 121,100 | 1,644,312 | ||||
Taikisha Limited (Industrials, Construction & engineering) | 88,100 | 2,079,633 | ||||
37,260,680 | ||||||
Luxembourg: 0.03% | ||||||
Novem Group SA (Financials, Diversified financial services) | 8,926 | 55,749 | ||||
Netherlands: 1.09% | ||||||
TKH Group NV (Industrials, Electrical equipment) | 50,910 | 1,804,181 | ||||
Norway: 1.91% | ||||||
Atea ASA (Information technology, IT services) | 145,826 | 1,621,512 | ||||
Elopak ASA (Materials, Containers & packaging) | 229,235 | 517,072 | ||||
Sparebank 1 SR-Bank ASA (Financials, Banks) | 95,033 | 1,025,640 | ||||
3,164,224 | ||||||
Spain: 5.09% | ||||||
Vidrala SA (Materials, Containers & packaging) | 29,305 | 2,238,659 | ||||
Viscofan SA (Consumer staples, Food products) | 104,304 | 6,210,473 | ||||
8,449,132 | ||||||
Sweden: 3.54% | ||||||
Hexpol AB (Materials, Chemicals) | 242,079 | 2,389,832 | ||||
Loomis AB (Industrials, Commercial services & supplies) | 124,535 | 3,480,736 | ||||
5,870,568 | ||||||
Switzerland: 3.64% | ||||||
Arbonia AG (Industrials, Building products) | 146,104 | 1,780,066 | ||||
Bossard Holding AG (Industrials, Trading companies & distributors) | 9,567 | 1,899,355 | ||||
Bucher Industries AG (Industrials, Machinery) | 5,015 | 1,689,780 | ||||
Montana Aeroaspace AG (Industrials, Aerospace & defense) 144A† | 58,695 | 672,910 | ||||
6,042,111 | ||||||
United Kingdom: 15.38% | ||||||
Britvic plc (Consumer staples, Beverages) | 423,111 | 3,530,001 | ||||
Domino's Pizza Group plc (Consumer discretionary, Hotels, restaurants & leisure) | 768,815 | 1,994,353 | ||||
Elementis plc (Materials, Chemicals) † | 1,078,551 | 1,144,116 | ||||
Lancashire Holdings Limited (Financials, Insurance) | 370,825 | 2,105,897 | ||||
Morgan Advanced Materials plc (Industrials, Machinery) | 359,867 | 1,015,230 | ||||
Nomad Foods Limited (Consumer staples, Food products) † | 138,180 | 2,127,973 | ||||
S4 Capital plc (Communication services, Media) † | 941,105 | 1,896,258 |
Shares | Value | |||||
United Kingdom: (continued) | ||||||
Spectris plc (Information technology, Electronic equipment, instruments & components) | 202,577 | $ 7,015,919 | ||||
SSP Group plc (Consumer discretionary, Hotels, restaurants & leisure) † | 506,491 | 1,175,047 | ||||
Tate & Lyle plc (Consumer staples, Food products) | 347,118 | 2,790,504 | ||||
THG Holding plc (Consumer discretionary, Internet & direct marketing retail) †« | 1,189,058 | 725,441 | ||||
25,520,739 | ||||||
Total Common stocks (Cost $172,769,611) | 146,323,353 | |||||
Investment companies: 7.84% | ||||||
United States: 7.84% | ||||||
iShares MSCI EAFE Small Cap ETF « | 127,457 | 6,492,660 | ||||
Vanguard FTSE ETF | 67,639 | 6,507,548 | ||||
Total Investment companies (Cost $12,321,098) | 13,000,208 |
Yield | ||||||
Short-term investments: 7.18% | ||||||
Investment companies: 7.18% | ||||||
Allspring Government Money Market Fund Select Class ♠∞ | 2.94% | 8,959,808 | 8,959,808 | |||
Securities Lending Cash Investments LLC ♠∩∞ | 3.14 | 2,952,741 | 2,952,741 | |||
Total Short-term investments (Cost $11,912,547) | 11,912,549 | |||||
Total investments in securities (Cost $197,003,256) | 103.20% | 171,236,110 | ||||
Other assets and liabilities, net | (3.20) | (5,302,461) | ||||
Total net assets | 100.00% | $165,933,649 |
† | Non-income-earning security |
144A | The security may be resold in transactions exempt from registration, normally to qualified institutional buyers, pursuant to Rule 144A under the Securities Act of 1933. |
« | All or a portion of this security is on loan. |
♠ | The issuer of the security is an affiliated person of the Fund as defined in the Investment Company Act of 1940. |
∩ | The investment is a non-registered investment company purchased with cash collateral received from securities on loan. |
∞ | The rate represents the 7-day annualized yield at period end. |
Abbreviations: | |
ADR | American depositary receipt |
REIT | Real estate investment trust |
Value, beginning of period | Purchases | Sales proceeds | Net realized gains (losses) | Net change in unrealized gains (losses) | Value, end of period | Shares, end of period | Income from affiliated securities | |||
Short-term investments | ||||||||||
Allspring Government Money Market Fund Select Class | $150,606 | $138,642,800 | $(129,833,598) | $ 0 | $0 | $ 8,959,808 | 8,959,808 | $ 68,834 | ||
Securities Lending Cash Investments LLC | 335,175 | 27,985,566 | (25,367,991) | (11) | 2 | 2,952,741 | 2,952,741 | 24,821 # | ||
$(11) | $2 | $11,912,549 | $93,655 |
# | Amount shown represents income before fees and rebates. |
Assets | |
Investments in unaffiliated securities (including $2,813,751 of securities loaned), at value (cost $185,090,709) | $ 159,323,561 |
Investments in affiliated securities, at value (cost $11,912,547) | 11,912,549 |
Foreign currency, at value (cost $198,386) | 198,247 |
Receivable for dividends | 459,948 |
Receivable for investments sold | 338,589 |
Receivable for Fund shares sold | 185,558 |
Receivable for securities lending income, net | 1,541 |
Prepaid expenses and other assets | 54,537 |
Total assets | 172,474,530 |
Liabilities | |
Payable for investments purchased | 3,386,928 |
Payable upon receipt of securities loaned | 2,952,741 |
Payable for Fund shares redeemed | 95,496 |
Management fee payable | 92,484 |
Administration fees payable | 10,293 |
Trustees’ fees and expenses payable | 2,204 |
Accrued expenses and other liabilities | 735 |
Total liabilities | 6,540,881 |
Total net assets | $165,933,649 |
Net assets consist of | |
Paid-in capital | $ 196,014,356 |
Total distributable loss | (30,080,707) |
Total net assets | $165,933,649 |
Computation of net asset value and offering price per share | |
Net assets – Class A | $ 21,599 |
Shares outstanding – Class A1 | 2,267 |
Net asset value per share – Class A | $9.53 |
Maximum offering price per share – Class A2 | $10.11 |
Net assets – Class C | $ 21,541 |
Shares outstanding – Class C1 | 2,267 |
Net asset value per share – Class C | $9.50 |
Net assets – Class R6 | $ 71,264,461 |
Shares outstanding – Class R61 | 7,476,796 |
Net asset value per share – Class R6 | $9.53 |
Net assets – Institutional Class | $ 94,626,048 |
Shares outstanding – Institutional Class1 | 9,924,447 |
Net asset value per share – Institutional Class | $9.53 |
1 | The Fund has an unlimited number of authorized shares. |
2 | Maximum offering price is computed as 100/94.25 of net asset value. On investments of $50,000 or more, the offering price is reduced. |
Investment income | |
Dividends (net of foreign withholdings taxes of $209,010) | $ 2,421,750 |
Income from affiliated securities | 81,279 |
Total investment income | 2,503,029 |
Expenses | |
Management fee | 839,330 |
Administration fees | |
Class A | 20 1 |
Class C | 20 1 |
Class R6 | 18,431 |
Institutional Class | 34,963 |
Shareholder servicing fees | |
Class A | 23 1 |
Class C | 23 1 |
Distribution fee | |
Class C | 49 1 |
Custody and accounting fees | 45,929 |
Professional fees | 56,544 |
Registration fees | 26,402 |
Shareholder report expenses | 11,565 |
Trustees’ fees and expenses | 20,819 |
Other fees and expenses | 8,690 |
Total expenses | 1,062,808 |
Less: Fee waivers and/or expense reimbursements | |
Fund-level | (184,159) |
Class A | (1) |
Class R6 | (12,283) |
Net expenses | 866,365 |
Net investment income | 1,636,664 |
Realized and unrealized gains (losses) on investments | |
Net realized losses on | |
Unaffiliated securities | (5,708,467) |
Affiliated securities | (11) |
Foreign currency and foreign currency translations | (48,231) |
Net realized losses on investments | (5,756,709) |
Net change in unrealized gains (losses) on | |
Unaffiliated securities | (25,402,567) |
Affiliated securities | 2 |
Foreign currency and foreign currency translations | (1,276) |
Net change in unrealized gains (losses) on investments | (25,403,841) |
Net realized and unrealized gains (losses) on investments | (31,160,550) |
Net decrease in net assets resulting from operations | $(29,523,886) |
1 | For the period from June 1, 2022 (commencement of class operations) to October 31, 2022 |
Year ended October 31, 2022 | Year ended October 31, 2021 | |||
Operations | ||||
Net investment income | $ 1,636,664 | $ 140,998 | ||
Net realized gains (losses) on investments | (5,756,709) | 508,817 | ||
Net change in unrealized gains (losses) on investments | (25,403,841) | (546,860) | ||
Net increase (decrease) in net assets resulting from operations | (29,523,886) | 102,955 | ||
Distributions to shareholders from | ||||
Net investment income and net realized gains | ||||
Class R6 | (801,820) | (45,080) | ||
Institutional Class | (2,079) | (892) | ||
Total distributions to shareholders | (803,899) | (45,972) | ||
Capital share transactions | Shares | Shares | ||
Proceeds from shares sold | ||||
Class A | 2,267 1 | 25,000 1 | N/A | N/A |
Class C | 2,267 1 | 25,000 1 | N/A | N/A |
Class R6 | 3,544,181 | 38,873,752 | 3,562,901 | 51,281,800 |
Institutional Class | 10,832,056 | 110,774,581 | 681 | 10,000 |
149,698,333 | 51,291,800 | |||
Reinvestment of distributions | ||||
Class R6 | 53,931 | 717,191 | 0 | 0 |
Institutional Class | 156 | 2,079 | 8 | 90 |
719,270 | 90 | |||
Payment for shares redeemed | ||||
Class R6 | (174,217) | (1,670,741) | 0 | 0 |
Institutional Class | (918,980) | (9,027,493) | (595) | (8,136) |
(10,698,234) | (8,136) | |||
Net increase in net assets resulting from capital share transactions | 139,719,369 | 51,283,754 | ||
Total increase in net assets | 109,391,584 | 51,340,737 | ||
Net assets | ||||
Beginning of period | 56,542,065 | 5,201,328 | ||
End of period | $165,933,649 | $56,542,065 |
1 | For the period from June 1, 2022 (commencement of class operations) to October 31, 2022 |
Year ended October 31 | |
Class A | 2022 1 |
Net asset value, beginning of period | $11.03 |
Net investment income | 0.03 |
Net realized and unrealized gains (losses) on investments | (1.53) |
Total from investment operations | (1.50) |
Net asset value, end of period | $9.53 |
Total return2 | (13.60)% |
Ratios to average net assets (annualized) | |
Gross expenses | 1.60% |
Net expenses | 1.38% |
Net investment income | 0.69% |
Supplemental data | |
Portfolio turnover rate | 26% |
Net assets, end of period (000s omitted) | $22 |
1 | For the period from June 1, 2022 (commencement of class operations) to October 31, 2022 |
2 | Total return calculations do not include any sales charges. Returns for periods of less than one year are not annualized. |
Year ended October 31 | |
Class C | 2022 1 |
Net asset value, beginning of period | $11.03 |
Net investment income | 0.00 2 |
Net realized and unrealized gains (losses) on investments | (1.53) |
Total from investment operations | (1.53) |
Net asset value, end of period | $9.50 |
Total return3 | (13.87)% |
Ratios to average net assets (annualized) | |
Gross expenses | 2.12% |
Net expenses | 1.96% |
Net investment income | 0.06% |
Supplemental data | |
Portfolio turnover rate | 26% |
Net assets, end of period (000s omitted) | $22 |
1 | For the period from June 1, 2022 (commencement of class operations) to October 31, 2022 |
2 | Amount is less than $0.005. |
3 | Total return calculations do not include any sales charges. Returns for periods of less than one year are not annualized. |
Year ended October 31 | ||||
Class R6 | 2022 | 2021 | 2020 | 2019 1 |
Net asset value, beginning of period | $13.91 | $10.38 | $10.58 | $10.00 |
Net investment income | 0.20 2 | 0.06 | 0.09 | 0.05 |
Net realized and unrealized gains (losses) on investments | (4.38) | 3.56 | (0.03) | 0.53 |
Total from investment operations | (4.18) | 3.62 | (0.06) | 0.58 |
Distributions to shareholders from | ||||
Net investment income | (0.07) | (0.05) | (0.15) | 0.00 |
Net realized gains | (0.13) | (0.04) | (0.11) | 0.00 |
Total distributions to shareholders | (0.20) | (0.09) | (0.26) | 0.00 |
Net asset value, end of period | $9.53 | $13.91 | $10.38 | $10.58 |
Total return3 | (30.47)% | 35.04% | 0.42% | 5.80% |
Ratios to average net assets (annualized) | ||||
Gross expenses | 1.18% | 1.68% | 5.69% | 7.81% |
Net expenses | 0.95% | 0.95% | 0.95% | 0.95% |
Net investment income | 1.85% | 0.70% | 0.93% | 1.24% |
Supplemental data | ||||
Portfolio turnover rate | 26% | 19% | 45% | 14% |
Net assets, end of period (000s omitted) | $71,264 | $56,386 | $5,086 | $5,183 |
1 | For the period from May 31, 2019 (commencement of class operations) to October 31, 2019 |
2 | Calculated based upon average shares outstanding |
3 | Returns for periods of less than one year are not annualized. |
Year ended October 31 | ||||
Institutional Class | 2022 | 2021 | 2020 | 2019 1 |
Net asset value, beginning of period | $13.92 | $10.38 | $10.57 | $10.00 |
Net investment income | 0.19 2 | 0.13 | 0.08 | 0.05 |
Net realized and unrealized gains (losses) on investments | (4.39) | 3.49 | (0.03) | 0.52 |
Total from investment operations | (4.20) | 3.62 | 0.05 | 0.57 |
Distributions to shareholders from | ||||
Net investment income | (0.06) | (0.04) | (0.13) | 0.00 |
Net realized gains | (0.13) | (0.04) | (0.11) | 0.00 |
Total distributions to shareholders | (0.19) | (0.08) | (0.24) | 0.00 |
Net asset value, end of period | $9.53 | $13.92 | $10.38 | $10.57 |
Total return3 | (30.60)% | 35.00% | 0.35% | 5.70% |
Ratios to average net assets (annualized) | ||||
Gross expenses | 1.26% | 2.73% | 5.76% | 7.91% |
Net expenses | 1.05% | 1.05% | 1.05% | 1.05% |
Net investment income | 1.86% | 1.00% | 0.83% | 1.14% |
Supplemental data | ||||
Portfolio turnover rate | 26% | 19% | 45% | 14% |
Net assets, end of period (000s omitted) | $94,626 | $156 | $115 | $106 |
1 | For the period from May 31, 2019 (commencement of class operations) to October 31, 2019 |
2 | Calculated based upon average shares outstanding |
3 | Returns for periods of less than one year are not annualized. |
Gross unrealized gains | $ 1,586,166 |
Gross unrealized losses | (33,312,604) |
Net unrealized losses | $(31,726,438) |
■ | Level 1 – quoted prices in active markets for identical securities |
■ | Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.) |
■ | Level 3 – significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments) |
Quoted prices (Level 1) | Other significant observable inputs (Level 2) | Significant unobservable inputs (Level 3) | Total | |
Assets | ||||
Investments in: | ||||
Common stocks | ||||
Australia | $ 10,225,473 | $0 | $0 | $ 10,225,473 |
Austria | 1,283,333 | 0 | 0 | 1,283,333 |
Belgium | 5,024,043 | 0 | 0 | 5,024,043 |
Canada | 12,138,848 | 0 | 0 | 12,138,848 |
France | 7,825,608 | 0 | 0 | 7,825,608 |
Germany | 10,842,146 | 0 | 0 | 10,842,146 |
Ireland | 1,343,895 | 0 | 0 | 1,343,895 |
Italy | 9,472,623 | 0 | 0 | 9,472,623 |
Japan | 37,260,680 | 0 | 0 | 37,260,680 |
Luxembourg | 55,749 | 0 | 0 | 55,749 |
Netherlands | 1,804,181 | 0 | 0 | 1,804,181 |
Norway | 3,164,224 | 0 | 0 | 3,164,224 |
Spain | 8,449,132 | 0 | 0 | 8,449,132 |
Sweden | 5,870,568 | 0 | 0 | 5,870,568 |
Switzerland | 6,042,111 | 0 | 0 | 6,042,111 |
United Kingdom | 25,520,739 | 0 | 0 | 25,520,739 |
Investment companies | 13,000,208 | 0 | 0 | 13,000,208 |
Short-term investments | ||||
Investment companies | 11,912,549 | 0 | 0 | 11,912,549 |
Total assets | $171,236,110 | $0 | $0 | $171,236,110 |
Average daily net assets | Management fee |
First $500 million | 0.950% |
Next $500 million | 0.925 |
Next $1 billion | 0.900 |
Next $2 billion | 0.875 |
Next $1 billion | 0.850 |
Next $5 billion | 0.840 |
Over $10 billion | 0.830 |
Class-level administration fee | |
Class A | 0.21% |
Class C | 0.21 |
Class R6 | 0.03 |
Institutional Class | 0.13 |
Expense ratio caps | |
Class A | 1.38% |
Class C | 2.13 |
Class R6 | 0.95 |
Institutional Class | 1.05 |
Counterparty | Value of securities on loan | Collateral received1 | Net amount |
Barclays Capital Incorporated | $ 575,154 | $ (575,154) | $0 |
Citigroup Global Markets Incorporated | 417,195 | (417,195) | 0 |
JPMorgan Securities LLC | 1,821,402 | (1,821,402) | 0 |
Year ended October 31 | ||
2022 | 2021 | |
Ordinary income | $ 642,091 | $25,952 |
Long-term capital gain | 161,808 | 20,020 |
Undistributed ordinary income | Unrealized losses | Capital loss carryforward |
$2,046,700 | $(31,736,161) | $(391,246) |
Allspring Funds Trust:
![](https://capedge.com/proxy/N-CSR/0001193125-23-001376/g417266img0bd856657.jpg)
Name and year of birth | Position held and length of service* | Principal occupations during past five years or longer | Current other public company or investment company directorships |
William R. Ebsworth (Born 1957) | Trustee, since 2015 | Retired. From 1984 to 2013, equities analyst, portfolio manager, research director and chief investment officer at Fidelity Management and Research Company in Boston, Tokyo, and Hong Kong, and retired in 2013 as Chief Investment Officer of Fidelity Strategic Advisers, Inc. where he led a team of investment professionals managing client assets. Prior thereto, Board member of Hong Kong Securities Clearing Co., Hong Kong Options Clearing Corp., the Thailand International Fund, Ltd., Fidelity Investments Life Insurance Company, and Empire Fidelity Investments Life Insurance Company. Audit Committee Chair and Investment Committee Chair of the Vincent Memorial Hospital Endowment (non-profit organization). Mr. Ebsworth is a CFA® charterholder. | N/A |
Jane A. Freeman (Born 1953) | Trustee, since 2015; Chair Liaison, since 2018 | Retired. From 2012 to 2014 and 1999 to 2008, Chief Financial Officer of Scientific Learning Corporation. From 2008 to 2012, Ms. Freeman provided consulting services related to strategic business projects. Prior to 1999, Portfolio Manager at Rockefeller & Co. and Scudder, Stevens & Clark. Board member of the Harding Loevner Funds from 1996 to 2014, serving as both Lead Independent Director and chair of the Audit Committee. Board member of the Russell Exchange Traded Funds Trust from 2011 to 2012 and the chair of the Audit Committee. Ms. Freeman is also an inactive Chartered Financial Analyst. | N/A |
Isaiah Harris, Jr. (Born 1952) | Trustee, since 2009; Audit Committee Chair, since 2019 | Retired. Chairman of the Board of CIGNA Corporation from 2009 to 2021, and Director from 2005 to 2008. From 2003 to 2011, Director of Deluxe Corporation. Prior thereto, President and CEO of BellSouth Advertising and Publishing Corp. from 2005 to 2007, President and CEO of BellSouth Enterprises from 2004 to 2005 and President of BellSouth Consumer Services from 2000 to 2003. Emeritus member of the Iowa State University Foundation Board of Governors. Emeritus Member of the Advisory Board of Iowa State University School of Business. Advisory Board Member, Palm Harbor Academy (private school). Advisory Board Member, Fellowship of Christian Athletes. Mr. Harris is a certified public accountant (inactive status). | N/A |
David F. Larcker (Born 1950) | Trustee, since 2009 | James Irvin Miller Professor of Accounting at the Graduate School of Business (Emeritus), Stanford University, Director of the Corporate Governance Research Initiative and Senior Faculty of The Rock Center for Corporate Governance since 2006. From 2005 to 2008, Professor of Accounting at the Graduate School of Business, Stanford University. Prior thereto, Ernst & Young Professor of Accounting at The Wharton School, University of Pennsylvania from 1985 to 2005. | N/A |
Name and year of birth | Position held and length of service* | Principal occupations during past five years or longer | Current other public company or investment company directorships |
Olivia S. Mitchell (Born 1953) | Trustee, since 2006; Nominating and Governance Committee Chair, since 2018 | International Foundation of Employee Benefit Plans Professor since 1993, Wharton School of the University of Pennsylvania. Director of Wharton’s Pension Research Council and Boettner Center on Pensions & Retirement Research, and Research Associate at the National Bureau of Economic Research. Previously taught at Cornell University from 1978 to 1993. | N/A |
Timothy J. Penny (Born 1951) | Trustee, since 1996; Chair, since 2018 | President and Chief Executive Officer of Southern Minnesota Initiative Foundation, a non-profit organization, since 2007. Vice Chair of the Economic Club of Minnesota, since 2007. Co-Chair of the Committee for a Responsible Federal Budget, since 1995. Member of the Board of Trustees of NorthStar Education Finance, Inc., a non-profit organization, since 2007. Senior Fellow of the University of Minnesota Humphrey Institute from 1995 to 2017. | N/A |
James G. Polisson (Born 1959) | Trustee, since 2018 | Retired. Chief Marketing Officer, Source (ETF) UK Services, Ltd, from 2015 to 2017. From 2012 to 2015, Principal of The Polisson Group, LLC, a management consulting, corporate advisory and principal investing company. Chief Executive Officer and Managing Director at Russell Investments, Global Exchange Traded Funds from 2010 to 2012. Managing Director of Barclays Global Investors from 1998 to 2010 and Global Chief Marketing Officer for iShares and Barclays Global Investors from 2000 to 2010. Trustee of the San Francisco Mechanics’ Institute, a non-profit organization, from 2013 to 2015. Board member of the Russell Exchange Traded Fund Trust from 2011 to 2012. Director of Barclays Global Investors Holdings Deutschland GmbH from 2006 to 2009. Mr. Polisson is an attorney and has a retired status with the Massachusetts and District of Columbia Bar Associations. | N/A |
Pamela Wheelock (Born 1959) | Trustee, since January 2020; previously Trustee from January 2018 to July 2019 | Retired. Executive and Senior Financial leadership positions in the public, private and nonprofit sectors. Interim President and CEO, McKnight Foundation, 2020. Interim Commissioner, Minnesota Department of Human Services, 2019. Chief Operating Officer, Twin Cities Habitat for Humanity, 2017-2019. Vice President for University Services, University of Minnesota, 2012-2016. Interim President and CEO, Blue Cross and Blue Shield of Minnesota, 2011-2012. Executive Vice-President and Chief Financial Officer, Minnesota Wild, 2002-2008. Commissioner, Minnesota Department of Finance, 1999-2002. Chair of the Board of Directors of Destination Medical Center Corporation. Board member of the Minnesota Wild Foundation. | N/A |
Name and year of birth | Position held and length of service | Principal occupations during past five years or longer |
Andrew Owen (Born 1960) | President, since 2017 | President and Chief Executive Officer of Allspring Funds Management, LLC since 2017 and Head of Global Fund Governance of Allspring Global Investments since 2022. Prior thereto, co-president of Galliard Capital Management, LLC, an affiliate of Allspring Funds Management, LLC, from 2019 to 2022 and Head of Affiliated Managers, Allspring Global Investments, from 2014 to 2019 and Executive Vice President responsible for marketing, investments and product development for Allspring Funds Management, LLC, from 2009 to 2014. |
Jeremy DePalma (Born 1974) | Treasurer, since 2012 (for certain funds in the Fund Complex); since 2021 (for the remaining funds in the Fund Complex) | Senior Vice President of Allspring Funds Management, LLC since 2009. Senior Vice President of Evergreen Investment Management Company, LLC from 2008 to 2010 and head of the Fund Reporting and Control Team within Fund Administration from 2005 to 2010. |
Christopher Baker (Born 1976) | Chief Compliance Officer, since 2022 | Global Chief Compliance Officer for Allspring Global Investments since 2022. Prior thereto, Chief Compliance Officer for State Street Global Advisors from 2018 to 2021. Senior Compliance Officer for the State Street divisions of Alternative Investment Solutions, Sector Solutions, and Global Marketing from 2015 to 2018. From 2010 to 2015 Vice President, Global Head of Investment and Marketing Compliance for State Street Global Advisors. |
Matthew Prasse (Born 1983) | Chief Legal Officer, since 2022; Secretary, since 2021 | Senior Counsel of the Allspring Legal Department since 2021. Senior Counsel of the Wells Fargo Legal Department from 2018 to 2021. Previously, Counsel for Barings LLC from 2015 to 2018. Prior to joining Barings, Associate at Morgan, Lewis & Bockius LLP from 2008 to 2015. |
![](https://capedge.com/proxy/N-CSR/0001193125-23-001376/g417266img3a7e52161.jpg)
P.O. Box 219967
Kansas City, MO 64121-9967
![](https://capedge.com/proxy/N-CSR/0001193125-23-001376/g417266imgf6f0b86b8.jpg)
1-800-222-8222 or visit the Fund's website at allspringglobal.com. Read the prospectus carefully before you invest or send money.
A296/AR296 10-22
ITEM 2. CODE OF ETHICS
(a) As of the end of the period covered by the report, Allspring Funds Trust has adopted a code of ethics that applies to its President and Treasurer. A copy of the code of ethics is filed as an exhibit to this Form N-CSR.
(c) During the period covered by this report, there were no amendments to the provisions of the code of ethics adopted in Item 2(a) above.
(d) During the period covered by this report, there were no implicit or explicit waivers to the provisions of the code of ethics adopted in Item 2(a) above.
ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT
The Board of Trustees of Allspring Funds Trust has determined that Isaiah Harris is an audit committee financial expert, as defined in Item 3 of Form N-CSR. Mr. Harris is independent for purposes of Item 3 of Form N-CSR.
ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES
(a), (b), (c), (d) The following table presents aggregate fees billed in each of the last two fiscal years for services rendered to the Registrant by the Registrant’s principal accountant. These fees were billed to the registrant and were approved by the Registrant’s audit committee.
Fiscal | Fiscal | |||||||
year ended | year ended | |||||||
October 31, 2022 | October 31, 2021 | |||||||
Audit fees | $ | 213,200 | $ | 205,070 | ||||
Audit-related fees | — | 58,400 | ||||||
Tax fees (1) | 30,155 | 25,340 | ||||||
All other fees | — | — | ||||||
|
|
|
| |||||
$ | 243,355 | $ | 288,810 | |||||
|
|
|
|
(1) | Tax fees consist of fees for tax compliance, tax advice, tax planning and excise tax. |
(e) The Chair of the Audit Committees is authorized to pre-approve: (1) audit services for the mutual funds of Allspring Funds Trust; (2) non-audit tax or compliance consulting or training services provided to the Funds by the independent auditors (“Auditors”) if the fees for any particular engagement are not anticipated to exceed $50,000; and (3) non-audit tax or compliance consulting or training services provided by the Auditors to a Fund’s investment adviser and its controlling entities (where pre-approval is required because the engagement relates directly to the operations and financial reporting of the Fund) if the fee to the Auditors for any particular engagement is not anticipated to exceed $50,000. For any such pre-approval sought from the Chair, Management shall prepare a brief description of the proposed services. If the Chair approves of such service, he or she shall sign the statement prepared by Management. Such written statement shall be presented to the full Committees at their next regularly scheduled meetings.
(f) Not applicable
(g) Not applicable
(h) Not applicable
ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS
Not applicable.
ITEM 6. INVESTMENTS
A Portfolio of Investments for each series of Allspring Funds Trust is included as part of the report to shareholders filed under Item 1 of this Form.
ITEM 7. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES
Not applicable.
ITEM 8. PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES
Not applicable.
ITEM 9. PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS
Not applicable.
ITEM 10. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
There have been no material changes to the procedures by which shareholders may recommend nominees to the registrant’s Board of Trustees that have been implemented since the registrant’s last provided disclosure in response to the requirements of this Item.
ITEM 11. CONTROLS AND PROCEDURES
(a) The President and Treasurer have concluded that the Allspring Funds Trust disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) provide reasonable assurances that material information relating to the registrant is made known to them by the appropriate persons based on their evaluation of these controls and procedures as of a date within 90 days of the filing of this report.
(b) There were no significant changes in the registrant’s internal controls over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) that occurred during the most recent fiscal half-year of the period covered by this report that materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.
ITEM 12. DISCLOSURES OF SECURITIES LENDING ACTIVITES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES
Not applicable.
ITEM 13. EXHIBITS
(a)(1) | Code of Ethics. | |
(a)(2) | Certifications pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. | |
(b) | Certifications pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Allspring Funds Trust | ||
By: | /s/ Andrew Owen | |
Andrew Owen | ||
President | ||
Date: December 22, 2022 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the date indicated.
Allspring Funds Trust | ||
By: | /s/ Andrew Owen | |
Andrew Owen | ||
President | ||
Date: December 22, 2022 | ||
By: | /s/Jeremy DePalma | |
Jeremy DePalma | ||
Treasurer | ||
Date: December 22, 2022 |