Allspring Funds Trust - Allspring U.S. Long/Short Equity Fund
ADMQX
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- Allspring US Long/Short Equity Fund - Investor Class (ADMQX) is an open-end mutual fund that seeks long-term capital appreciation and capital preservation in down markets through a long/short equity strategy focused on U.S. securities. The fund invests at least 80% of its net assets in equity securities such as common stocks, warrants, and rights of U.S. issuers principally traded on major U.S. exchanges; it employs long and short positions in publicly traded U.S. equity securities, primarily via exchange-traded funds (ETFs) to replicate hedge fund-like returns with lower volatility and correlation to benchmarks like the S&P 500 Index and HFRX Equity Hedge Index. Managed by Allspring Global Investments' Systematic Edge Equity team, led by Harindra de Silva, CFA, Ph.D., and Kevin Cole, the fund targets institutional investors, financial intermediaries, and high-net-worth individuals within the alternative investments segment of the asset management industry. Originally launched in April 2016 by 361 Capital as the 361 Domestic Long/Short Equity Fund - Investor Class, the fund underwent a significant reorganization in 2022 when Allspring Global Investments adopted it, along with its Class I share counterpart, from 361 Capital. Allspring Funds Management, LLC serves as the primary investment manager, with the Systematic Edge team retaining continuous oversight since inception to ensure strategic continuity. Headquartered in Charlotte, North Carolina, Allspring Global Investments oversees approximately $457 billion in assets under management across diverse strategies, operating principally in the United States with a focus on U.S. equity markets. No major partnerships, acquisitions, funding rounds, new product launches, or operational shifts have been reported for the fund in the last 1-2 years; it continues to emphasize its core long/short U.S. equity approach amid competitive pressures in the alternative equity space. The fund maintains a net expense ratio of approximately 2.24%, with assets under management around $23-29 million as of recent filings. Performance highlights include a YTD return of 11.50% and quarterly commentary noting market navigation challenges in Q4 2024.