Bennelong follows through with Allspring fund launch

The global income strategy from US-based asset manager, Allspring Global Investments, has officially entered the Australian market with the help of distribution partner, Bennelong Funds Management.

The launch of the Allspring Global Income Fund was expected after the partnership was first announced back in May, with Allspring added to Bennelong’s boutique partner line-up amid a deal to bring the strategy to the Australian and New Zealand markets.

The fund leverages Allspring’s international expertise and investment approach boasting USD$600 billion of assets under management (AUM) and advisement – with over USD$460 billion in fixed income – and is designed for Australian retail, wholesale and institutional investors.

“We believe this fund can be a core component of well diversified portfolios,” John Burke, CEO of Bennelong, said.

“Allspring’s global income strategy has delivered strong risk-adjusted returns for over ten years, and it’s exciting to bring a proven, well-diversified and dynamic product to our network of investors, advisers and institutions.”

The fund offers exposure across a variety of global fixed income pools, including government, securitised, investment grade credit, high yield and emerging market debt markets. The fund seeks to outperform the Bloomberg Global Aggregate Index and produce returns combining a “high level of current income (paid monthly) and capital appreciation.”.

“Our alignment with Allspring represents another important step in the process of moving Bennelong from a largely equities-based business to one that best caters for the evolving needs of investors across all asset classes,” Gillian Larkins, Chair of the Bennelong Funds Management Limited Board, said.

Andy Sowerby, Head of the International Client Group at Allspring, said the firm was looking forward to increasing its presence in Australia via the new fund launch.

“Our flexible, multi-sector approach is different from strategies with more static allocations and fewer exposures, and to strategies managed to three or five-year macroeconomic themes,” he said.

“The strategy has delivered competitive performance in periods of market stress, including over the challenging markets of 2025.”