Fund Description

The fund invests at least 80% of net assets in bonds and at least 80% of total assets in investment-grade debt securities, with up to 25% in asset-backed securities other than mortgage-backed securities and up to 20% in U.S. dollar-denominated debt of foreign issuers. It is a feeder fund investing substantially all assets in a master portfolio with a substantially identical objective and similar strategies, but may invest in other master portfolios, other Allspring funds, or directly. It invests mainly in U.S. government obligations, corporate bonds, and mortgage- and asset-backed securities; may use mortgage dollar rolls, reverse repos, and derivatives; may buy unrated bonds deemed comparable to investment-grade; considers financially material ESG factors; and may sell holdings based on valuation, return, opportunity, or risk.