CHARLOTTE, North Carolina, February 22, 2022 /PRNewswire/ — Allspring Global Investments announced today that Pierre Wilson will retire from the company. He will be retired as portfolio manager of the Allspring Multi-Sector Income Fund (NYSE: ERC) effective May 16, 2022. Peter manages the foreign debt (including emerging market debt) portion of the fund, alongside Alexandre Perrin and Lauren van Biljon, CFA. Alex and Lauren will continue to manage this round after Peter’s departure. Christopher KauffmanCFA; Michael Lee; Michael SchuellerCFA; Wise Noah, CFA; and Chris Lee, CFA, will also continue their role as portfolio managers of the fund. There is no change to the investment philosophy or process as a result of this change.
Allspring Global Investments™ is a leading independent asset management firm that offers a wide range of investment products and solutions designed to help achieve clients’ goals. At Allspring, our vision is to inspire a new era of investing that seeks both financial returns and positive outcomes. With decades of trusted experience propelling us forward, we strive to build portfolios aimed at generating positive results for our clients. We do this through the independent thinking that fuels our investment strategies and by taking a renewed approach to looking around the corner to unlock what is possible. With over $575 billion of assets under management*, offices worldwide and investment teams supported by 450 investment professionals, Allspring is a firm committed to thoughtful investing, purposeful planning and a desire to deliver results that go beyond financial gain. For more information, visit www.allspringglobal.com.
*Dated December 31, 2021. Assets under management include $91 billion of Galliard Capital Management, an investment adviser which is not part of the Allspring / GIPS company trading name.
The Multi-Sector Income Fund is a closed-end equity and high-yield bond fund. The fund’s investment objective is to seek a high level of current income while limiting its overall exposure to domestic interest rate risk.
For more information on Allspring closed-end funds, please visit our website.
This closed-end fund is no longer available as an initial public offering and is only offered through secondary market dealers. A closed-end fund is not required to redeem its shares from investors on demand. Shares of the fund may trade at a premium or discount to the net asset value of the fund, and there can be no assurance that any discount will diminish. The values and/or income generated by the securities held by the fund may decline due to general market conditions or other factors, including those directly involving the issuers of such securities. Debt securities are subject to credit risk and interest rate risk, and high yield securities and unrated securities of similar credit quality are at much higher risk of default and their values tend to be more volatile than higher rated securities with similar maturities. Foreign investments may contain more risk due to the inherent risks associated with changing political climates, instability of foreign markets and fluctuations in foreign currencies. Foreign investment risks are heightened in emerging or developing markets. The fund is exposed to mortgage-backed and asset-backed securities risk. The fund leverages a revolving credit facility and may also take on leverage by issuing preferred shares in the future. The use of leverage involves certain risks, including, among other things, the likelihood of greater volatility in the net asset value and market value of the Common Shares. Derivatives involve additional risks, including interest rate risk, credit risk, risk of incorrect valuation and risk of mismatch with the relevant instruments they are designed to hedge or track.
Allspring Global Investments™ is the trade name for the asset management companies of Allspring Global Investments Holdings, LLC, a holding company indirectly owned by certain private funds of GTCR LLC and Reverence Capital Partners, LP These companies include, but are not limited thereto, Allspring Global Investments, LLC and Allspring Funds Management, LLC. Certain products managed by Allspring Entities are distributed by Allspring Funds Distributor, LLC (a dealer and Member FINRA/SIPC).
This material is for general informational and educational purposes only and is NOT intended to provide investment advice or a recommendation of any kind, including a recommendation for any investment, strategy or specific plan.
Some of the information contained herein may include forward-looking statements about the planned investment activities of the funds. These statements do not provide any assurance as to the actual investment activities or results of the funds. Readers should make their own assessment of the information contained herein and consider any other factors they deem relevant to their personal circumstances.
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