Bennelong inks distribution deal with US asset manager

Yasmine Raso

Senior Journalist

16 May 2025

Bennelong Funds Management has expanded its local distribution efforts with the addition of offshore asset manager, Allspring Global Investments, to its boutique partner line-up, confirming plans to introduce the firm’s global income strategy to the Australian and New Zealand markets.

The partnership with Bennelong is expected to result in the Allspring Global Income Fund launched as an Australian unit trust next month.

“With over 390 investment professionals and 20 global offices, Allspring has scale and experience alongside a strong investment reputation especially in active fixed income,” John Burke, CEO of Bennelong, said.

“We’re looking forward to working with Allspring to deliver a core component of well diversified portfolios to our broad network of investors, advisers and institutions.”

The fund offers investors daily liquidity and access to opportunities based across the fixed income universe, including interest rate, geographic, sector, quality and security selection. The fund launch also comes at a time of ongoing market volatility, as investors seek alternate methods of stable capital growth.

“Allspring’s global income strategy provides broad diversification by actively allocating across the global fixed income universe including the investment grade credit and high yield sectors,” Andy Sowerby, Head of the International Client Group at Allspring, said.

“Our flexible, dynamic 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.

“Furthermore, the strategy has delivered resilience in periods of market stress, delivering competitive differentiated performance even throughout disparate and challenging market environments.”

The US-based manager boasts over USD$600 billion of assets under management and advisement and over USD$460 billion of that in fixed income assets.