Charlotte, N.C.-based Allspring Global Investments has ventured into the exchange-traded fund field with three ETFs based on its flagship active fixed income investments.
The Allspring Broad Market Core Bond ETF (AFIX) offers the firm’s institutional core bond strategy to individual investors. The Allspring Core Plus ETF (APLU) and Allspring Income Plus ETF (AINP) each feature an array of fixed income securities targeted to provide incremental performance over bonds. All three ETFs began trading Dec. 5 on NYSE Arca.
“We are thrilled to enter the ETF market to provide our clients with another route to access our differentiated investment strategies in structures that help to meet their needs,” Allspring President Kate Burke said in a news release. Allspring is a global asset management firm with $590 billion in assets under advisement.
Janet Rilling, CFA, Allspring senior portfolio manager and head of the Plus Fixed Income, will lead the team managing the Allspring Core Plus ETF and Allspring Income Plus ETF. Rilling has managed fixed income portfolios at Allspring and its predecessor firms for almost 30 years.
“Our mission to elevate investing involves actively listening to investors—in particular, the investment advisors who have been key collaborative partners for years,” said Rick Genoni, global head of Product Development and Innovation and leader of Allspring’s ETF initiative. “What we heard over and over again was a desire to access our leading actively managed strategies in an ETF structure with the liquidity and tax-efficiency benefits it brings to the table.”
Brandon Kanz, CFA, heads the team that manages the Allspring Broad Market Core Bond ETF. Kanz is senior portfolio manager and head of Credit at Galliard Capital Management, a wholly owned subsidiary of Allspring that specializes in fixed income strategies for institutional investors. He has been in the investment industry for two decades.
“Brandon and Janet both set a high bar for excellence in terms of the creative and disciplined investment processes that they’ve developed over the years,” said Molly Landes, head of ETF Capital Markets. “It’s been exciting to work with the team to deliver their investment skill in an ETF structure.”
The ETFs’ expense ratios are 0.19% for AFIX, 0.30% for APLU, and 0.35% for AINP.
Allspring also has filed an initial registration statement with the Securities and Exchange Commission for three actively managed equity ETFs, which it anticipates launching early next year.
