Allspring Multi-Sector Income Fund
ERC
New York Stock Exchange American- -
USD
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- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- CEO
- Peter Malcolm Wilson
- Sector
- Financial Services
- Industry
- Asset Management - Income
- Address
- 525 Market Street Charlotte CA United States of America 94105
- IPO Date
- Jun 25, 2003
- CIK
- 0001227073
- Website
- allspringglobal.com
- Similar Companies
- Business
- Allspring Multi-Sector Income Fund (ERC) is a closed-end fixed income mutual fund that seeks a high level of current income consistent with limiting its overall exposure to domestic interest rate risk. The fund, launched on June 25, 2003, and domiciled in the United States, invests globally in fixed income markets, allocating approximately 30%-70% of its total assets to below-investment-grade (high yield) debt; 10%-40% to foreign debt securities, including emerging market debt; and 10%-30% to adjustable-rate and fixed-rate mortgage-backed securities and investment-grade corporate bonds, including non-investment-grade corporate debt securities and bank loans. It is managed by Allspring Funds Management, LLC, with co-management by First International Advisors, Inc. and Wells Capital Management Incorporated, headquartered at 1415 Vantage Park Drive, 3rd Floor, Charlotte, North Carolina 28203. As of November 2025, the fund has approximately $280 million in assets under management, trades on NYSE American, and targets retail and institutional investors seeking diversified income with a yield around 8.8%-9.5%. Recent portfolio management changes include the addition of Adam Hicks as a portfolio manager effective October 29, 2024, with the removal of Michael Lee; further adjustments occurred on October 8, 2025, when Chris Lee, CFA, was removed ahead of his departure from Allspring at year-end. The fund renewed its open-market share repurchase program on November 14, 2024, authorizing up to 5% of outstanding shares to be repurchased from January 1, 2025, to December 31, 2025, to support shareholder value. In its fiscal year ended October 31, 2024, the fund increased securitized sector allocations to 52%, boosted exposure to commercial mortgage-backed securities (CMBS) and collateralized loan obligations (CLOs) by 6.5% and 1% respectively, and maintained 30% leverage through bank borrowings. Monthly distributions have stabilized around $0.072 per share in 2025 after increases from prior levels, reflecting portfolio adjustments amid spread compression in securitized and corporate sectors.