Allspring C&B Mid Cap Value Fund
CBMSX
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- Allspring C&B Mid Cap Value Fund (CBMSX) is a mutual fund that seeks maximum long-term total return, consisting of current income and capital appreciation, consistent with minimizing risk to principal by investing principally in equity securities of medium-capitalization U.S. companies defined as those within the market capitalization range of the Russell Midcap Value Index at the time of purchase; the fund maintains a relatively focused portfolio of 30 to 50 high-quality holdings selected through a proprietary cash-flow model emphasizing strong cash-flow generation, competitive advantages, conservative balance sheets, and purchases at a significant discount to intrinsic value. It offers multiple share classes including Institutional (CBMSX, net expense ratio 0.90%), Administrator (CBMIX, 1.15%), Class A (CBMAX, 1.24%), Class C (CBMCX, 1.99%), and R6 (CBMYX, 0.80%), with a low portfolio turnover rate of approximately 24% and annual distributions; the fund is sub-advised by Cooke & Bieler LP, whose team averages 16 years of tenure, and managed within Allspring Funds Trust by Allspring Funds Management, LLC. The fund targets institutional and retail investors seeking mid-cap value exposure, with top sectors including financials (26%), industrials (21%), and consumer discretionary (18%), and top holdings such as AerCap Holdings NV, Helen of Troy Limited, and Gentex Corporation. In a major strategic change, the Allspring C&B Mid Cap Value Fund merged into the Allspring Special Mid Cap Value Fund effective February 23, 2024, as approved by the Board of Trustees on November 13-15, 2023, after which all references to the C&B Mid Cap Value Fund were removed from prospectuses; this reorganization consolidated mid-cap value strategies under the surviving Special Mid Cap Value Fund, which continues the high-quality, low-risk value approach benchmarked against the Russell Midcap Value Index. The fund operates from headquarters at 1415 Vantage Park Drive, 3rd Floor, Charlotte, NC 28203, United States, with inception dating back to February 18, 1998 (though certain share classes launched July 26, 2004), and assets under management of approximately $297 million as of September 30, 2023. No other significant recent acquisitions, partnerships, funding rounds, or product launches were identified for the fund within the last 1-2 years.