Allspring Multi-Sector Income Fund (NYSE American: ERC) is a diversified closed-end management investment company that seeks to provide high current income, with a secondary objective of capital appreciation. The fund pursues this goal by investing in a broad array of fixed-income sectors, including investment-grade corporate bonds, high-yield debt, bank loans, preferred securities, emerging-market sovereign and corporate debt, and U.S. mortgage- and asset-backed securities. By employing a multi-sector approach, the fund aims to capture yield opportunities across global credit markets while managing risk through sector allocation and duration controls.
The fund utilizes leverage to enhance income potential, typically through a combination of unsecured debt and reverse repurchase agreements. Its active management style allows the portfolio team to shift allocations tactically in response to changing market conditions, credit spreads, and economic trends. Geographic diversification is a key feature, with allocations spanning North America, Europe, Latin America, and selected emerging markets. Currency exposure is managed through hedging techniques when appropriate, helping to mitigate volatility arising from foreign-exchange movements.
Originally launched under the Wells Fargo Asset Management platform, the fund rebranded to Allspring Multi-Sector Income Fund following the formation of Allspring Global Investments in 2021. Allspring Global Investments, headquartered in Atlanta, traces its roots back nearly a century and maintains a network of offices across the United States, Europe, and Asia. The fund’s day-to-day management is led by a team of seasoned fixed-income specialists, supported by research analysts and risk managers who leverage the broader resources of Allspring’s credit research platform.
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