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Allspring Global Investments to offer an ETF share class in Allspring Mutual Funds

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Allspring Global Investments writes that as it builds an investment platform for the future, it has filed for exemptive relief that would allow its successful, actively managed mutual fund family to offer an ETF share class.

The firm says: “Part of delivering on our mission to elevate investing to be worth more to clients is offering our differentiated active investment strategies in their optimal structure, and we believe the multi-class structure provides benefits to all investors in the strategy. We are also simultaneously considering single-class, stand-alone ETFs.

“We believe the active ETF industry will continue to evolve, and we are taking a thoughtful approach, evaluating expansion opportunities across strategies managed by our investment teams with strong track records and deep investment experience. 

“Our expansion into active ETFs is being led by ETF industry veteran Rick Genoni, Allspring’s global head of Product Development and Innovation, with support of other seasoned leaders across the firm. We will continue to build our team, including the recruitment of a head of ETF Capital Markets and head of ETF Operations, to help execute this piece of our strategy.”

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