Private equity firms GTCR and Reverence Capital jointly acquired the former Wells Fargo Asset Management from U.S.-based bank Wells Fargo & Co. in November 2021 and rebranded the new entity Allspring Global Investments. This move severs nearly all of Allspring’s ties with its former parent company (Wells Fargo retains an ownership stake just shy of 10%), which removes the stigma related to the bank’s regulatory issues that surfaced in 2016. However, typical private equity firm investment holding periods, which often range from five to seven years, mean that uncertainty will come again for Allspring; in the meantime, its new owners could encourage nearer-term growth or changes with a shorter investment horizon in mind than those of long-term Allspring fund investors.
MarketUS Open-end ex MM ex FoF ex Feeder
Total Net Assets66.95 Bil
Investment Flows (TTM)−8.76 Bil
Asset Growth Rate (TTM)−11.08%
# of Share Classes399
# of Share Classes
Morningstar Rating Overall
5-Year Category Rank
|Allspring Diversified Cap Bldr A||6|
|Allspring Spectrum Aggressive Gr A||9|
|Allspring Core Plus Bond A||12|
|Allspring Minnesota Tax-Free Instl||2|
|Allspring Real Return Institutional||4|
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