Key Takeaways
- • Allspring Global Investments announced board approval for the reorganization of two Hamilton Lane-advised long-short equity funds—the 361 Global Long/Short Equity Fund and the 361 Domestic Long/Short Equity Fund—into newly organized Allspring funds, pending shareholder approval.
- • The reorganized funds will be renamed the Allspring Global Long/Short Equity Fund and Allspring U.S. Long/Short Equity Fund, with Allspring Funds Management, LLC serving as the primary investment manager.
- • Allspring's Systematic Edge investment team, led by Portfolio Manager Harin de Silva, CFA, Ph.D., will continue managing both strategies, which have been in place since inception in 2009 and currently manage $26.6 billion in combined assets under management as of June 30, 2022.
- • The funds employ a quantitative, model-driven long/short strategy targeting securities with attractive factor exposures while shorting high-beta securities with unattractive factor exposures, maintaining a consistent 100% long, 30% short ratio.
- • Allspring Global Investments operates $476 billion in total assets under management as an independent asset manager.
Summary
Allspring Global Investments announced that the boards of trustees of the Investment Managers Series Trust and the Allspring Funds Trust have approved the reorganization of two long-short equity funds currently advised by Hamilton Lane Advisors. The 361 Global Long/Short Equity Fund and the 361 Domestic Long/Short Equity Fund will be reorganized into new series of the Allspring Funds Trust, contingent on shareholder approval. Upon successful reorganization, the funds will be renamed the Allspring Global Long/Short Equity Fund and Allspring U.S. Long/Short Equity Fund, respectively.
The transition maintains continuity in investment management. Allspring's Systematic Edge investment team, headed by Portfolio Manager Harin de Silva, CFA, Ph.D., has managed both fund strategies since their inception in 2009 when they operated under Analytic Investors, LLC. The team will continue managing the strategies following the reorganization, with Allspring Funds Management, LLC assuming the role of primary investment manager. As of June 30, 2022, the Systematic Edge team managed $26.6 billion across all strategies.
The funds implement a quantitative, model-driven long/short equity strategy designed to capture factor-based returns across global and domestic markets. The investment process targets securities exhibiting attractive factor exposures for long positions while shorting high-beta securities with unattractive factor exposures. The funds maintain a consistent portfolio structure of 100% long and 30% short positions. This systematic approach has been the foundation of the strategies since their establishment.
Allspring Global Investments, with $476 billion in total assets under management, positions itself as a leading independent asset manager. The reorganization represents a consolidation of these established long-short equity strategies under the Allspring brand while preserving the experienced investment team responsible for their performance since inception.
The transition maintains continuity in investment management. Allspring's Systematic Edge investment team, headed by Portfolio Manager Harin de Silva, CFA, Ph.D., has managed both fund strategies since their inception in 2009 when they operated under Analytic Investors, LLC. The team will continue managing the strategies following the reorganization, with Allspring Funds Management, LLC assuming the role of primary investment manager. As of June 30, 2022, the Systematic Edge team managed $26.6 billion across all strategies.
The funds implement a quantitative, model-driven long/short equity strategy designed to capture factor-based returns across global and domestic markets. The investment process targets securities exhibiting attractive factor exposures for long positions while shorting high-beta securities with unattractive factor exposures. The funds maintain a consistent portfolio structure of 100% long and 30% short positions. This systematic approach has been the foundation of the strategies since their establishment.
Allspring Global Investments, with $476 billion in total assets under management, positions itself as a leading independent asset manager. The reorganization represents a consolidation of these established long-short equity strategies under the Allspring brand while preserving the experienced investment team responsible for their performance since inception.
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