CHARLOTTE, N.C., Dec. 21,
2023 /PRNewswire/ -- The following Allspring
closed-end funds announced today that the Board of Trustees for
each Fund has approved the adoption of their respective Amended and
Restated By-Laws:
- Allspring Global Dividend Opportunity Fund (NYSE: EOD)
- Allspring Income Opportunities Fund (NYSE American: EAD)
- Allspring Multi-Sector Income Fund (NYSE American: ERC)
- Allspring Utilities and High Income Fund (NYSE American:
ERH)
The By-Laws, among other things, contain modified procedural and
informational requirements in connection with any advance notice of
shareholder proposals or nominations, including certain information
about the proponent and the proposal, or in the case of a Trustee
nomination, the nominee. Any shareholder considering making a
Trustee nomination or other proposal should carefully review and
comply with those provisions of the By-Laws.
Furthermore, in determining whether a particular nominee is
qualified to serve as a Trustee, the Board has an interest in the
nominee's background, skills, experience and other attributes in
light of the composition of the Board. The By-Laws now include
qualifications and requirements for Trustee eligibility.
Additionally, the By-Laws have changed the voting standard
required for election as a Trustee. The By-Laws now provide that
the affirmative vote of a majority of shares outstanding and
entitled to vote in an election is required to elect a Trustee. The
new voting standard will apply to all future elections of
Trustees.
The foregoing discussion is only a high-level summary of certain
aspects of the By-Laws and is qualified in its entirety by
reference to the By-Laws. Investors should refer to the By-Laws for
more information, which can be found in a Current Report on Form
8-K filed by each respective fund with the Securities and Exchange
Commission (available at www.sec.gov). The By-Laws may also be
obtained by writing the Secretary of a fund at each fund's
principal executive office.
About the Allspring Closed-End Funds
The Allspring Income Opportunities Fund is a closed-end
high-yield bond fund. The fund's investment objective is to seek a
high level of current income. The fund may, as a secondary
objective, seek capital appreciation to the extent it is consistent
with its investment objective.
The Allspring Multi-Sector Income Fund is a closed-end income
fund. The fund's investment objective is to seek a high level of
current income consistent with limiting its overall exposure to
domestic interest rate risk.
The Allspring Utilities and High Income Fund is a closed-end
equity and high-yield bond fund. The fund's investment objective is
to seek a high level of current income and moderate capital growth
with an emphasis on providing tax-advantaged dividend income.
The Allspring Global Dividend Opportunity Fund is a closed-end
equity and high-yield bond fund. The fund's investment objective is
to seek a high level of current income. The fund's secondary
objective is long-term growth of capital.
For more information on Allspring's closed-end funds, please
visit www.allspringglobal.com.
About Allspring
Allspring Global Investments™ is an independent asset management
firm with more than $551 billion in
assets under advisement*, over 20 offices globally, and investment
teams supported by more than 450 investment professionals.
Allspring is committed to thoughtful investing, purposeful
planning, and inspiring a new era of investing that pursues both
financial returns and positive outcomes. For more information,
please visit www.allspringglobal.com.
*As of September 30, 2023. Figures
include discretionary and non-discretionary assets.
This closed-end fund is no longer available as an initial
public offering and is only offered through broker-dealers on the
secondary market. A closed-end fund is not required to buy its
shares back from investors upon request. Shares of the fund may
trade at either a premium or discount relative to the fund's net
asset value, and there can be no assurance that any discount will
decrease. The values of, and/or the income generated by, securities
held by the fund may decline due to general market conditions or
other factors, including those directly involving the issuers of
such securities. Equity securities fluctuate in value in response
to factors specific to the issuer of the security. Debt securities
are subject to credit risk and interest rate risk, and high yield
securities and unrated securities of similar credit quality have a
much greater risk of default and their values tend to be more
volatile than higher-rated securities with similar maturities. The
fund is also subject to risks associated with any concentration of
its investments in the utility sector. Funds that concentrate their
investments in a single industry or sector may face increased risk
of price fluctuation due to adverse developments within that
industry or sector. The fund is leveraged through a revolving
credit facility and also may incur leverage by issuing preferred
shares in the future. The use of leverage results in certain risks,
including, among others, the likelihood of greater volatility of
net asset value and the market price of common shares. Foreign
investments may contain more risk due to the inherent risks
associated with changing political climates, foreign market
instability, and foreign currency fluctuations. Derivatives involve
additional risks, including interest rate risk, credit risk, the
risk of improper valuation, and the risk of noncorrelation to the
relevant instruments they are designed to hedge or closely
track.
Allspring Global Investments™ is the trade name for the asset
management firms of Allspring Global Investments Holdings, LLC, a
holding company indirectly owned by certain private funds of GTCR
LLC and Reverence Capital Partners, L.P. These firms include but
are not limited to Allspring Global Investments, LLC, and Allspring
Funds Management, LLC. Certain products managed by Allspring
entities are distributed by Allspring Funds Distributor, LLC (a
broker-dealer and Member FINRA/SIPC).
This material is for general informational and educational
purposes only and is NOT intended to provide investment advice or a
recommendation of any kind—including a recommendation for any
specific investment, strategy, or plan.
Some of the information contained herein may include
forward-looking statements about the expected investment activities
of the funds. These statements provide no assurance as to the
funds' actual investment activities or results. Readers must make
their own assessment of the information contained herein and
consider such other factors as they may deem relevant to their
individual circumstances.
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© 2023 Allspring Global Investments Holdings, LLC. All rights
reserved.
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SOURCE Allspring Global Investments
