Key Takeaways
- • Allspring Global Long/Short Equity A (AGAQX) delivered a 3.01% year-to-date return as of April 7, 2025, with a five-year beta of 0.42, indicating below-market volatility relative to broader equity indices.
- • The fund carries a 3.09% expense ratio and maintains net assets of $55.96 million, with a five-year holdings turnover rate of 285%, reflecting active portfolio management.
- • AGAQX achieved a five-star Morningstar rating despite being classified as above-average risk, with a current yield of 2.38% and an inception date of December 16, 2022.
- • The Allspring Lux Worldwide Fund – Global Long/Short Equity Fund (GLS) received The Hedge Fund Journal's UCITS Hedge Performance Award for Best in its category, underscoring institutional recognition of the strategy.
- • Allspring Global Investments, spun off from Wells Fargo three years prior to the story date, operates a diversified fund lineup including long-short equity, global equity, and small-cap strategies alongside closed-end fund structures.
Summary
Allspring Global Long/Short Equity A (AGAQX) is a long-short equity mutual fund managed by Allspring Global Investments that targets institutional and retail investors seeking market-neutral exposure with controlled volatility. As of April 7, 2025, the fund reported a year-to-date return of 3.01% with net assets under management of $55.96 million. The fund's low five-year beta of 0.42 indicates its performance is substantially less volatile than broader market benchmarks, positioning it as a defensive equity strategy despite its above-average risk classification from Morningstar.
The fund's operational structure reflects an actively managed approach, with a holdings turnover rate of 285% over five years, indicating frequent rebalancing and tactical positioning adjustments. The 3.09% expense ratio is typical for actively managed alternative strategies in the long-short equity category. Distribution metrics show a current yield of 2.38%, with the most recent capital gain distribution of $8.00 per share and a quarterly dividend payment of $0.13.
Allspring's global long-short equity capability extends beyond the U.S.-listed AGAQX vehicle. The Allspring Lux Worldwide Fund – Global Long/Short Equity Fund (GLS), structured as a UCITS-compliant product for European investors, received The Hedge Fund Journal's UCITS Hedge Performance Award, validating the strategy's track record and risk-adjusted performance across institutional markets. This recognition reflects the firm's commitment to delivering differentiated returns across both traditional and alternative investment platforms.
The fund achieved a five-star Morningstar rating as of the reporting date, despite its above-average risk profile relative to its long-short equity peer group. This rating underscores the portfolio management team's success in generating alpha while managing downside volatility. Allspring Global Investments, which was established following its separation from Wells Fargo approximately three years prior, operates an expansive suite of strategies including global equity funds, small-cap equity strategies, and closed-end fund vehicles designed to exploit market inefficiencies through disciplined, systematic approaches.
The fund's operational structure reflects an actively managed approach, with a holdings turnover rate of 285% over five years, indicating frequent rebalancing and tactical positioning adjustments. The 3.09% expense ratio is typical for actively managed alternative strategies in the long-short equity category. Distribution metrics show a current yield of 2.38%, with the most recent capital gain distribution of $8.00 per share and a quarterly dividend payment of $0.13.
Allspring's global long-short equity capability extends beyond the U.S.-listed AGAQX vehicle. The Allspring Lux Worldwide Fund – Global Long/Short Equity Fund (GLS), structured as a UCITS-compliant product for European investors, received The Hedge Fund Journal's UCITS Hedge Performance Award, validating the strategy's track record and risk-adjusted performance across institutional markets. This recognition reflects the firm's commitment to delivering differentiated returns across both traditional and alternative investment platforms.
The fund achieved a five-star Morningstar rating as of the reporting date, despite its above-average risk profile relative to its long-short equity peer group. This rating underscores the portfolio management team's success in generating alpha while managing downside volatility. Allspring Global Investments, which was established following its separation from Wells Fargo approximately three years prior, operates an expansive suite of strategies including global equity funds, small-cap equity strategies, and closed-end fund vehicles designed to exploit market inefficiencies through disciplined, systematic approaches.
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