Allspring Utility and Telecommunications Fund Administrator Class
EVUDX
NASDAQ- -
USD
- -
- -
Capital Structure
FRC
•
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
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 525 Market Street San Francisco CA United States of America 94105
- IPO Date
- Jul 30, 2010
- CIK
- 0001081400
- Similar Companies
- Business
- Allspring Utility and Telecommunications Fund Administrator Class (EVUDX) is an open-end mutual fund that seeks total return, consisting of current income and capital appreciation, through a dividend-focused investment approach principally in equity securities of utility and telecommunication companies across all market capitalizations. The fund invests primarily in common stocks, preferred shares, convertible securities, and investment-grade bonds issued by such companies, with a portfolio strategy emphasizing factors including dividend payouts, dividend growth, market capitalization, valuation, earnings growth, and financial condition to identify issuers with sustainable dividends and potential for moderate growth; top holdings as of recent data include NextEra Energy Inc., Southern Company, Constellation Energy Corp., Sempra, and Duke Energy Corp. It offers share classes including Institutional (EVUYX), Administrator (EVUDX), Class A (EVUAX), and Class C (EVUCX), with net expense ratios ranging from 0.72% for Institutional shares to 1.79% for Class C shares after contractual fee waivers. The fund, launched on January 4, 1994, and managed by Allspring Funds Management, LLC (advisor) with Allspring Global Investments, LLC as sub-advisor, belongs to the Morningstar Utilities category and maintains a sector allocation heavily weighted toward utilities (78%), complemented by smaller exposures to communication services, financials, health care, information technology, real estate, consumer discretionary, and consumer staples. Allspring Global Investments, headquartered in Charlotte, North Carolina following a 2022 relocation from San Francisco, operates as an independent global asset manager since its November 2021 spin-off from Wells Fargo Asset Management, backed by majority owners GTCR LLC and Reverence Capital Partners, L.P., with Wells Fargo retaining a passive 9.9% stake. The firm provides a broad range of equity, fixed income, multi-asset, and alternative investment solutions to institutional and individual investors worldwide. Recent developments for the fund include quarterly distributions and performance updates, with the fund delivering a 4.92% total return in Q1 2025 (versus benchmark 4.94%) and a 17.68% return for calendar 2024, alongside low portfolio turnover of approximately 11% and assets under management totaling around $347 million as of late 2025. At the parent firm level, Allspring has pursued strategic growth through partnerships such as its collaboration with Bennelong Funds Management to distribute global income strategies in Australia and New Zealand, alongside portfolio adjustments like increased holdings in European equity funds as of September 2025; no major acquisitions, funding rounds, or reorganizations specific to EVUDX were reported in the last 1-2 years. The fund remains focused on downside risk management and lower correlation to broader equity markets, serving investors seeking income-oriented exposure to defensive sectors.