# Allspring Income Opportunities Fund

Allspring Income Opportunities Fund is an Asset Manager based in Charlotte, United States.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** Charlotte, United States
- **Region:** North America
- **Address:** Charlotte, NC, United States
- **Founded:** 2003
- **Assets under management:** Undisclosed
- **Website:** allspringglobal.com

## Regulatory record

- **Reports private funds:** No

## About

The Allspring Income Opportunities Fund (EAD) launched in 2003 as an Evergreen Investments closed-end fund before migrating into the Allspring Global Investments platform following the 2021 acquisition of Wells Fargo Asset Management by GTCR and Reverence Capital Partners. Allspring operates as an autonomous multi-boutique asset manager, and the Income Opportunities Fund functions as a distinct public vehicle within that structure, trading on the NYSE American exchange. The fund sits outside the single-family-office model entirely — it is a registered 40-Act product with daily pricing and retail access, though its investment strategy targets institutional-grade credit exposures. Strategy centers on a levered, multi-sector credit portfolio. The fund allocates across high-yield corporate bonds, senior secured floating-rate bank loans, collateralized loan obligations, asset-backed securities, and mortgage-backed securities — sourcing income from corners of fixed income where structural complexity or liquidity premiums can be harvested. The mandate permits up to 20% in defaulted or distressed securities, which positions the vehicle closer to a credit-opportunities fund than a conventional high-yield bond fund. Confirmed historical positions have included credits in telecommunications, energy, and healthcare sectors. The geographic footprint is predominantly North American, with tactical exposure to developed European credit when relative value warrants. The fund maintains a managed distribution policy aimed at delivering a competitive monthly yield, funded through net investment income and capital gains. As a closed-end fund, it can employ moderate structural leverage — typically through reverse repurchase agreements or credit facilities — to amplify portfolio yield. This leverage, combined with the fund's ability to hold less-liquid credits without redemption pressure, constitutes its primary structural advantage over open-end mutual funds in the same asset class. In March 2024, the fund declared its monthly distribution consistent with the prior quarter, reflecting the steady-state income posture the strategy is designed to deliver. The structural differentiator is the vehicle format itself. Unlike an open-end fund where investor redemptions can force portfolio sales at distressed prices during credit dislocations, the closed-end structure locks capital in place. That permanence lets the managers buy when credit spreads blow out and hold through restructuring cycles — an architecture that rewards the fund's ability to own mispriced credit risk in illiquid situations without being a forced seller. The strategy's origin within Evergreen — a firm built around multi-asset solutions rather than a single investment-style boutique — also shaped its mandate to reach across credit sub-asset classes rather than specialize narrowly.

## Sectors

- Private Credit
- Hedge Funds
- Secondaries & Special Situations

## People

- Joe Sullivan — CEO

## Questions

### What investment mandate does the Allspring Income Opportunities Fund pursue?

The fund runs a levered multi-sector credit strategy that invests across high-yield bonds, senior secured loans, CLOs, asset-backed securities, and mortgage-backed securities. It has the flexibility to hold up to 20% of assets in defaulted or distressed securities, which distinguishes it from a standard high-yield bond fund. The objective is current income with capital appreciation as a secondary goal.

### Who is responsible for investment decisions at the fund?

The fund is managed by Allspring Global Investments, with its multi-asset and fixed-income teams overseeing portfolio strategy and security selection. Allspring operates as an independent asset manager following its separation from Wells Fargo in 2021, when private equity firms GTCR and Reverence Capital Partners acquired the platform.

### How does the fund derive its yield and what drives the distribution policy?

The fund operates under a managed distribution policy that sets a regular monthly payout. Distributions are funded from net investment income — primarily coupon payments from bonds and loans — and, when income is insufficient, from realized capital gains or return of capital. The exact mix of income and capital distributions fluctuates with market conditions and portfolio turnover.

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Last updated: 2026-06-03T20:00:00.000Z

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