2023-03-09MoneyMarketFundsGovernment-AbcProspectus
ALLSPRING
FUNDS TRUST
PART
A
ALLSPRING
MONEY MARKET FUNDS
PROSPECTUSES
Government
Money Market Funds
|
|
Fund |
Class
A |
Allspring
Government Money Market Fund |
WFGXX |
Allspring
Treasury Plus Money Market Fund |
PIVXX |
Allspring
100% Treasury Money Market Fund |
WFTXX |
The U.S.
Securities and Exchange Commission (“SEC”) has not approved or disapproved these
securities or passed upon the accuracy or adequacy of this Prospectus. Anyone
who tells you
otherwise is committing a crime.
Table
of Contents
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2 |
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6 |
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10 |
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15 |
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16 |
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17 |
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18 |
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19 |
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19 |
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20 |
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21 |
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21 |
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22 |
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22 |
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23 |
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25 |
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26 |
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26 |
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28 |
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29 |
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30 |
Government
Money Market Fund Summary
Investment
Objective
The Fund
seeks current income, while preserving capital and
liquidity.
Fees
and Expenses
These
tables are intended to help you understand the various costs and expenses you
will pay if you buy, hold and sell shares of
the Fund.
|
|
Shareholder
Fees (fees paid directly from your investment)
|
|
|
|
Maximum
sales charge (load) imposed on purchases (as a percentage of offering
price) |
None |
Maximum
deferred sales charge (load) (as a percentage of offering
price) |
None |
|
|
|
|
Class
A |
Management
Fees |
0.13% |
Distribution
(12b-1) Fees |
0.00% |
Other
Expenses |
0.48% |
Total
Annual Fund Operating Expenses |
0.61% |
Fee
Waivers |
(0.01)% |
Total
Annual Fund Operating Expenses After Fee Waivers2
|
% |
1. |
Expenses
have been adjusted as necessary from amounts incurred during the Fund’s
most recent fiscal year to reflect current fees and
expenses.
|
2. |
The
Manager has contractually committed through May
31, 2024, to
waive fees and/or reimburse expenses to the extent necessary to
cap Total Annual Fund Operating Expenses After Fee Waivers at 0.60%
for Class
A. Brokerage commissions, stamp duty fees, interest,
taxes, acquired fund fees and expenses (if any), and extraordinary
expenses are excluded from the expense cap. Prior to or after
the commitment expiration date, the cap may be increased or the commitment
to maintain the cap may be terminated only with
the approval of the Board of Trustees. The Manager and/or its affiliates
may also voluntarily waive all or a portion of any fees to which
they are entitled and/or reimburse certain expenses as they may determine
from time to time. |
Example
of Expenses
The example
below is intended to help you compare the costs of investing in the Fund with
the costs of investing in other
funds. The example assumes a $10,000 initial investment, 5% annual total return,
and that fees and expenses remain the
same as in the tables above. To the extent that the Manager is waiving fees or
reimbursing expenses, the example
assumes that such waiver or reimbursement will only be in place through the date
noted above. Although your actual
costs may be higher or lower, based on these assumptions, your costs would
be:
|
|
|
|
After:
|
|
1
Year |
$61 |
3
Years |
$194 |
5
Years |
$339 |
10
Years |
$761 |
2 |
|
Government
Money Market Funds |
Principal
Investment Strategies
Under
normal circumstances, we invest:
■ |
exclusively
in high-quality, short-term, U.S. dollar-denominated money market
instruments that consist of U.S. Government
obligations and repurchase agreements collateralized by U.S. Government
obligations. |
These
investments may have fixed, floating, or variable rates of
interest.
Our
security selection is based on several factors, including credit quality, yield
and maturity, while taking into account the Fund’s
overall level of liquidity and weighted average maturity. We will only purchase
securities that we have determined
present minimal credit risk.
Principal
Investment Risks
You could
lose money by investing in the Fund. Although
the Fund seeks to preserve the value of your investment at $1.00 per
share, it cannot guarantee it will do so. An
investment in the Fund is not a deposit of a bank or its affiliates
and is not
insured or guaranteed by the Federal Deposit Insurance Corporation or any other
government agency. The
Fund’s
sponsor has no legal obligation to provide financial support to the Fund, and
you should not expect that the sponsor
will provide financial support to the Fund at any time. The Fund is primarily
subject to the risks briefly summarized
below.
Market
Risk. The values
of, and/or the income generated by, securities held by the Fund may decline due
to general market
conditions or other factors, including those directly involving the issuers of
such securities. Securities markets are
volatile and may decline significantly in response to adverse issuer,
regulatory, political, or economic developments.
Different sectors of the market and different security types may react
differently to such developments.
Money
Market Fund Risk. The Fund’s
yield will change based on changes in interest rates and other market
conditions. Because the
Fund invests in short-term instruments, the Fund’s dividend yields are expected
to be low when short-term market
interest rates are low, and there is no guarantee that the Fund will not have a
negative yield.
U.S.
Government Obligations Risk. U.S.
Government obligations may be adversely impacted by changes in interest
rates, and
securities issued or guaranteed by U.S. Government agencies or
government-sponsored entities may not be backed by
the full faith and credit of the U.S. Government. U.S. Government obligations
may be adversely affected by a default by,
or decline in the credit quality, of the U.S.
Government.
Debt
Securities Risk. Debt
securities are subject to credit risk and interest rate risk. Credit risk is the
possibility that the issuer or
guarantor of a debt security may be unable, or perceived to be unable or
unwilling, to pay interest or repay principal
when they become due. In these instances, the value of an investment could
decline and the Fund could lose money.
Credit risk increases as an issuer’s credit quality or financial strength
declines. Interest rate risk is the possibility that
interest rates will change over time. When interest rates rise, the value of
debt securities tends to fall. The longer the terms
of the debt securities held by a Fund, the more the Fund is subject to this
risk. If interest rates decline, interest
that the Fund is able to earn on its investments in debt securities may also
decline, which could cause the Fund to reduce
the dividends it pays to shareholders, but the value of those securities may
increase. Very low or negative interest
rates may magnify interest rate risk.
Repurchase
Agreement Risk. In the
event that the counterparty to a repurchase agreement is unwilling or unable to
fulfill its
contractual obligations to repurchase the underlying security, a Fund may lose
money, suffer delays, or incur costs
arising from holding or selling the underlying
security.
Management
Risk. Investment
decisions, techniques, analyses or models implemented by a Fund’s
manager or sub-adviser
in seeking to achieve the Fund’s investment objective may not produce expected
returns, may cause the Fund’s
shares to lose value or may cause the Fund to underperform other funds with
similar investment objectives.
Government
Money Market Funds
|
|
3 |
Performance
The
following information provides some indication of the risks of investing in the
Fund by showing changes in the Fund’s
performance from year to year. Past
performance is no guarantee of future results. Current
month-end performance
is available on the Fund’s website at allspringglobal.com.
To obtain a
current 7-day yield for the Fund call toll-free
1-800-222-8222.
|
|
|
Calendar
Year Total Returns for Class A as of 12/31 each year
|
|
Highest
Quarter: December
31, 2022 |
|
Lowest
Quarter: March
31,
2022 |
|
Year-to-date
total return
as of March
31,
2023 is
+0.96% |
|
|
|
|
|
|
Average
Annual Total Returns for the periods ended 12/31/2022 (returns reflect
applicable sales charges) |
|
Inception
Date
of Share
Class |
1
Year |
5
Year |
10
Year |
Class
A |
11/8/1999
|
1.19% |
0.87% |
0.47% |
4 |
|
Government
Money Market Funds |
Fund
Management
|
|
Manager |
Sub-Adviser |
Allspring
Funds Management,
LLC |
Allspring
Global Investments, LLC |
Purchase
and Sale of Fund Shares
In general,
you can buy or sell shares of the Fund online or by mail, phone
or wire on any day the New York Stock Exchange is
open for regular trading. You also may buy and sell shares through a financial
professional.
|
|
Minimum
Investments |
To
Buy or Sell Shares |
Minimum
Initial Investment Regular
Accounts: $1,000 IRAs,
IRA Rollovers, Roth IRAs: $250 UGMA/UTMA
Accounts: $50 Employer
Sponsored Retirement Plans: No Minimum
Minimum
Additional Investment Regular
Accounts, IRAs, IRA Rollovers, Roth IRAs: $100 UGMA/UTMA
Accounts: $50 Employer
Sponsored Retirement Plans: No Minimum |
Mail:
Allspring
Funds P.O.
Box 219967 Kansas
City, MO 64121-9967 Online:
www.allspringglobal.com Phone
or Wire:
1-800-222-8222 Contact
your financial professional. |
Tax
Information
Any
distributions you receive from the Fund may be taxable as ordinary income or
capital gains, except when your investment
is in an IRA, 401(k) or other tax-advantaged investment plan. However,
subsequent withdrawals from such a tax-advantaged
investment plan may be subject to federal income tax. You should consult your
tax adviser about your specific
tax situation.
Payments
to Intermediaries
If you
purchase a Fund through an intermediary, the Fund and its related companies may
pay the intermediary for the sale of
Fund shares and related services. These payments may create a conflict of
interest by influencing the intermediary
and your financial professional to recommend the Fund over another investment.
Consult your financial professional
or visit your intermediary’s website for more information.
Government
Money Market Funds
|
|
5 |
Treasury
Plus Money Market Fund Summary
Investment
Objective
The Fund
seeks current income, while preserving capital and
liquidity.
Fees
and Expenses
These
tables are intended to help you understand the various costs and expenses you
will pay if you buy, hold and sell shares of
the Fund.
|
|
Shareholder
Fees (fees paid directly from your investment)
|
|
|
|
Maximum
sales charge (load) imposed on purchases (as a percentage of offering
price) |
None |
Maximum
deferred sales charge (load) (as a percentage of offering
price) |
None |
|
|
|
|
Class
A |
Management
Fees |
0.14% |
Distribution
(12b-1) Fees |
0.00% |
Other
Expenses |
0.48% |
Total
Annual Fund Operating Expenses |
0.62% |
Fee
Waivers |
(0.02)% |
Total
Annual Fund Operating Expenses After Fee Waivers2
|
% |
1. |
Expenses
have been adjusted as necessary from amounts incurred during the Fund’s
most recent fiscal year to reflect current fees and
expenses.
|
2. |
The
Manager has contractually committed through May
31, 2024, to
waive fees and/or reimburse expenses to the extent necessary to
cap Total Annual Fund Operating Expenses After Fee Waivers at 0.60%
for Class
A. Brokerage commissions, stamp duty fees, interest,
taxes, acquired fund fees and expenses (if any), and extraordinary
expenses are excluded from the expense cap. Prior to or after
the commitment expiration date, the cap may be increased or the commitment
to maintain the cap may be terminated only with
the approval of the Board of Trustees. The Manager and/or its affiliates
may also voluntarily waive all or a portion of any fees to which
they are entitled and/or reimburse certain expenses as they may determine
from time to time. |
Example
of Expenses
The example
below is intended to help you compare the costs of investing in the Fund with
the costs of investing in other
funds. The example assumes a $10,000 initial investment, 5% annual total return,
and that fees and expenses remain the
same as in the tables above. To the extent that the Manager is waiving fees or
reimbursing expenses, the example
assumes that such waiver or reimbursement will only be in place through the date
noted above. Although your actual
costs may be higher or lower, based on these assumptions, your costs would
be:
|
|
|
|
After:
|
|
1
Year |
$61 |
3
Years |
$197 |
5
Years |
$344 |
10
Years |
$772 |
6 |
|
Government
Money Market Funds |
Principal
Investment Strategies
Under
normal circumstances, we invest:
■ |
exclusively
in high-quality, short-term, U.S. dollar-denominated money market
instruments that consist of U.S. Treasury
obligations and repurchase agreements collateralized by U.S. Treasury
obligations. |
Our
security selection is based on several factors, including credit quality, yield
and maturity, while taking into account the Fund’s
overall level of liquidity and weighted average maturity. We will only purchase
securities that we have determined
present minimal credit risk.
Principal
Investment Risks
You could
lose money by investing in the Fund. Although
the Fund seeks to preserve the value of your investment at $1.00 per
share, it cannot guarantee it will do so. An
investment in the Fund is not a deposit of a bank or its affiliates
and is not
insured or guaranteed by the Federal Deposit Insurance Corporation or any other
government agency. The
Fund’s
sponsor has no legal obligation to provide financial support to the Fund, and
you should not expect that the sponsor
will provide financial support to the Fund at any time. The Fund is primarily
subject to the risks briefly summarized
below.
Market
Risk. The values
of, and/or the income generated by, securities held by the Fund may decline due
to general market
conditions or other factors, including those directly involving the issuers of
such securities. Securities markets are
volatile and may decline significantly in response to adverse issuer,
regulatory, political, or economic developments.
Different sectors of the market and different security types may react
differently to such developments.
Money
Market Fund Risk. The Fund’s
yield will change based on changes in interest rates and other market
conditions. Because the
Fund invests in short-term instruments, the Fund’s dividend yields are expected
to be low when short-term market
interest rates are low, and there is no guarantee that the Fund will not have a
negative yield.
U.S.
Government Obligations Risk. U.S.
Government obligations may be adversely impacted by changes in interest
rates, and
securities issued or guaranteed by U.S. Government agencies or
government-sponsored entities may not be backed by
the full faith and credit of the U.S. Government. U.S. Government obligations
may be adversely affected by a default by,
or decline in the credit quality, of the U.S.
Government.
Debt
Securities Risk. Debt
securities are subject to credit risk and interest rate risk. Credit risk is the
possibility that the issuer or
guarantor of a debt security may be unable, or perceived to be unable or
unwilling, to pay interest or repay principal
when they become due. In these instances, the value of an investment could
decline and the Fund could lose money.
Credit risk increases as an issuer’s credit quality or financial strength
declines. Interest rate risk is the possibility that
interest rates will change over time. When interest rates rise, the value of
debt securities tends to fall. The longer the terms
of the debt securities held by a Fund, the more the Fund is subject to this
risk. If interest rates decline, interest
that the Fund is able to earn on its investments in debt securities may also
decline, which could cause the Fund to reduce
the dividends it pays to shareholders, but the value of those securities may
increase. Very low or negative interest
rates may magnify interest rate risk.
Repurchase
Agreement Risk. In the
event that the counterparty to a repurchase agreement is unwilling or unable to
fulfill its
contractual obligations to repurchase the underlying security, a Fund may lose
money, suffer delays, or incur costs
arising from holding or selling the underlying
security.
Management
Risk. Investment
decisions, techniques, analyses or models implemented by a Fund’s
manager or sub-adviser
in seeking to achieve the Fund’s investment objective may not produce expected
returns, may cause the Fund’s
shares to lose value or may cause the Fund to underperform other funds with
similar investment objectives.
Government
Money Market Funds
|
|
7 |
Performance
The
following information provides some indication of the risks of investing in the
Fund by showing changes in the Fund’s
performance from year to year. Past
performance is no guarantee of future results. Current
month-end performance
is available on the Fund’s website at allspringglobal.com.
To obtain a
current 7-day yield for the Fund call toll-free
1-800-222-8222.
|
|
|
Calendar
Year Total Returns for Class A as of 12/31 each
year |
|
Highest
Quarter: December
31, 2022 |
|
Lowest
Quarter: March
31,
2022 |
|
Year-to-date
total return
as of March
31,
2023 is
+0.97% |
|
|
|
|
|
|
Average
Annual Total Returns for the periods ended 12/31/2022 (returns reflect
applicable sales charges) |
|
Inception
Date
of Share
Class |
1
Year |
5
Year |
10
Year |
Class
A |
7/28/2003
|
1.19% |
0.86% |
0.47% |
8 |
|
Government
Money Market Funds |
Fund
Management
|
|
Manager |
Sub-Adviser |
Allspring
Funds Management,
LLC |
Allspring
Global Investments, LLC |
Purchase
and Sale of Fund Shares
In general,
you can buy or sell shares of the Fund online or by mail, phone
or wire on any day the New York Stock Exchange is
open for regular trading. You also may buy and sell shares through a financial
professional.
|
|
Minimum
Investments |
To
Buy or Sell Shares |
Minimum
Initial Investment Regular
Accounts: $1,000 IRAs,
IRA Rollovers, Roth IRAs: $250 UGMA/UTMA
Accounts: $50 Employer
Sponsored Retirement Plans: No Minimum
Minimum
Additional Investment Regular
Accounts, IRAs, IRA Rollovers, Roth IRAs: $100 UGMA/UTMA
Accounts: $50 Employer
Sponsored Retirement Plans: No Minimum |
Mail:
Allspring
Funds P.O.
Box 219967 Kansas
City, MO 64121-9967 Online:
www.allspringglobal.com Phone
or Wire:
1-800-222-8222 Contact
your financial professional. |
Tax
Information
Any
distributions you receive from the Fund may be taxable as ordinary income or
capital gains, except when your investment
is in an IRA, 401(k) or other tax-advantaged investment plan. However,
subsequent withdrawals from such a tax-advantaged
investment plan may be subject to federal income tax. You should consult your
tax adviser about your specific
tax situation.
Payments
to Intermediaries
If you
purchase a Fund through an intermediary, the Fund and its related companies may
pay the intermediary for the sale of
Fund shares and related services. These payments may create a conflict of
interest by influencing the intermediary
and your financial professional to recommend the Fund over another investment.
Consult your financial professional
or visit your intermediary’s website for more information.
Government
Money Market Funds
|
|
9 |
100%
Treasury Money Market Fund Summary
Investment
Objective
The Fund
seeks current income exempt from most state and local individual income taxes,
while preserving capital and liquidity.
Fees
and Expenses
These
tables are intended to help you understand the various costs and expenses you
will pay if you buy, hold and sell shares of
the Fund.
|
|
Shareholder
Fees (fees paid directly from your investment)
|
|
|
|
Maximum
sales charge (load) imposed on purchases (as a percentage of offering
price) |
None |
Maximum
deferred sales charge (load) (as a percentage of offering
price) |
None |
|
|
|
|
Class
A |
Management
Fees |
0.14% |
Distribution
(12b-1) Fees |
0.00% |
Other
Expenses |
0.48% |
Total
Annual Fund Operating Expenses |
0.62% |
Fee
Waivers |
(0.02)% |
Total
Annual Fund Operating Expenses After Fee Waivers2
|
% |
1. |
Expenses
have been adjusted as necessary from amounts incurred during the Fund’s
most recent fiscal year to reflect current fees and
expenses.
|
2. |
The
Manager has contractually committed through May
31, 2024, to
waive fees and/or reimburse expenses to the extent necessary to
cap Total Annual Fund Operating Expenses After Fee Waivers at 0.60%
for Class
A. Brokerage commissions, stamp duty fees, interest,
taxes, acquired fund fees and expenses (if any), and extraordinary
expenses are excluded from the expense cap. Prior to or after
the commitment expiration date, the cap may be increased or the commitment
to maintain the cap may be terminated only with
the approval of the Board of Trustees. The Manager and/or its affiliates
may also voluntarily waive all or a portion of any fees to which
they are entitled and/or reimburse certain expenses as they may determine
from time to time. |
Example
of Expenses
The example
below is intended to help you compare the costs of investing in the Fund with
the costs of investing in other
funds. The example assumes a $10,000 initial investment, 5% annual total return,
and that fees and expenses remain the
same as in the tables above. To the extent that the Manager is waiving fees or
reimbursing expenses, the example
assumes that such waiver or reimbursement will only be in place through the date
noted above. Although your actual
costs may be higher or lower, based on these assumptions, your costs would
be:
|
|
|
|
After:
|
|
1
Year |
$61 |
3
Years |
$197 |
5
Years |
$344 |
10
Years |
$772 |
10 |
|
Government
Money Market Funds |
Principal
Investment Strategies
Under
normal circumstances, we invest:
■ |
exclusively
in high-quality, short-term, U.S. dollar-denominated money market
instruments that consist of U.S. Treasury
obligations. |
Our
security selection is based on several factors, including yield and maturity,
while taking into account the Fund’s overall
level of liquidity and weighted average maturity. We will only purchase
securities that we have determined present
minimal credit risk.
Principal
Investment Risks
You could
lose money by investing in the Fund. Although
the Fund seeks to preserve the value of your investment at $1.00 per
share, it cannot guarantee it will do so. An
investment in the Fund is not a deposit of a bank or its affiliates
and is not
insured or guaranteed by the Federal Deposit Insurance Corporation or any other
government agency. The
Fund’s
sponsor has no legal obligation to provide financial support to the Fund, and
you should not expect that the sponsor
will provide financial support to the Fund at any time. The Fund is primarily
subject to the risks briefly summarized
below.
Market
Risk. The values
of, and/or the income generated by, securities held by the Fund may decline due
to general market
conditions or other factors, including those directly involving the issuers of
such securities. Securities markets are
volatile and may decline significantly in response to adverse issuer,
regulatory, political, or economic developments.
Different sectors of the market and different security types may react
differently to such developments.
Money
Market Fund Risk. The Fund’s
yield will change based on changes in interest rates and other market
conditions. Because the
Fund invests in short-term instruments, the Fund’s dividend yields are expected
to be low when short-term market
interest rates are low, and there is no guarantee that the Fund will not have a
negative yield.
U.S.
Government Obligations Risk. U.S.
Government obligations may be adversely impacted by changes in interest
rates, and
securities issued or guaranteed by U.S. Government agencies or
government-sponsored entities may not be backed by
the full faith and credit of the U.S. Government. U.S. Government obligations
may be adversely affected by a default by,
or decline in the credit quality, of the U.S.
Government.
Debt
Securities Risk. Debt
securities are subject to credit risk and interest rate risk. Credit risk is the
possibility that the issuer or
guarantor of a debt security may be unable, or perceived to be unable or
unwilling, to pay interest or repay principal
when they become due. In these instances, the value of an investment could
decline and the Fund could lose money.
Credit risk increases as an issuer’s credit quality or financial strength
declines. Interest rate risk is the possibility that
interest rates will change over time. When interest rates rise, the value of
debt securities tends to fall. The longer the terms
of the debt securities held by a Fund, the more the Fund is subject to this
risk. If interest rates decline, interest
that the Fund is able to earn on its investments in debt securities may also
decline, which could cause the Fund to reduce
the dividends it pays to shareholders, but the value of those securities may
increase. Very low or negative interest
rates may magnify interest rate risk.
Management
Risk. Investment
decisions, techniques, analyses or models implemented by a Fund’s
manager or sub-adviser
in seeking to achieve the Fund’s investment objective may not produce expected
returns, may cause the Fund’s
shares to lose value or may cause the Fund to underperform other funds with
similar investment objectives.
Government
Money Market Funds
|
|
11 |
Performance
The
following information provides some indication of the risks of investing in the
Fund by showing changes in the Fund’s
performance from year to year. Past
performance is no guarantee of future results. Current
month-end performance
is available on the Fund’s website at allspringglobal.com.
To obtain a
current 7-day yield for the Fund call toll-free
1-800-222-8222.
|
|
|
Calendar
Year Total Returns for Class A as of 12/31 each year
|
|
Highest
Quarter: December
31, 2022 |
|
Lowest
Quarter: September
30, 2016 |
|
Year-to-date
total return
as of March
31,
2023 is
+0.95% |
|
|
|
|
|
|
Average
Annual Total Returns for the periods ended 12/31/2022 (returns reflect
applicable sales charges) |
|
Inception
Date
of Share
Class |
1
Year |
5
Year |
10
Year |
Class
A |
11/8/1999
|
1.11% |
0.84% |
0.45% |
12 |
|
Government
Money Market Funds |
Fund
Management
|
|
Manager |
Sub-Adviser |
Allspring
Funds Management,
LLC |
Allspring
Global Investments, LLC |
Purchase
and Sale of Fund Shares
In general,
you can buy or sell shares of the Fund online or by mail, phone
or wire on any day the New York Stock Exchange is
open for regular trading. You also may buy and sell shares through a financial
professional.
|
|
Minimum
Investments |
To
Buy or Sell Shares |
Minimum
Initial Investment Regular
Accounts: $1,000 IRAs,
IRA Rollovers, Roth IRAs: $250 UGMA/UTMA
Accounts: $50 Employer
Sponsored Retirement Plans: No Minimum
Minimum
Additional Investment Regular
Accounts, IRAs, IRA Rollovers, Roth IRAs: $100 UGMA/UTMA
Accounts: $50 Employer
Sponsored Retirement Plans: No Minimum |
Mail:
Allspring
Funds P.O.
Box 219967 Kansas
City, MO 64121-9967 Online:
www.allspringglobal.com Phone
or Wire:
1-800-222-8222 Contact
your financial professional. |
Tax
Information
Any
distributions you receive from the Fund may be taxable as ordinary income or
capital gains, except when your investment
is in an IRA, 401(k) or other tax-advantaged investment plan. However,
subsequent withdrawals from such a tax-advantaged
investment plan may be subject to federal income tax. You should consult your
tax adviser about your specific
tax situation.
Payments
to Intermediaries
If you
purchase a Fund through an intermediary, the Fund and its related companies may
pay the intermediary for the sale of
Fund shares and related services. These payments may create a conflict of
interest by influencing the intermediary
and your financial professional to recommend the Fund over another investment.
Consult your financial professional
or visit your intermediary’s website for more information.
Government
Money Market Funds
|
|
13 |
Details
About the Funds
About
Allspring Government Money Market Funds
All
Allspring Government Money Market Funds seek to provide current income, while
preserving capital and liquidity by investing
in a portfolio of money market instruments. A Fund may have additional
investment objectives or restrictions.
Money
market instruments are high quality, short-term investments that present minimal
credit risk and may include securities
such as U.S. Government obligations, bank obligations, corporate bonds,
commercial paper, municipal securities,
asset- and mortgage-backed securities, and repurchase agreements. All Allspring
Government Money Market
Funds are managed to meet the requirements of Rule 2a-7 under the Investment
Company Act of 1940, as amended
(“1940 Act”), which provides that:
■ |
Each
Fund will seek to maintain a net asset value of $1.00 per
share. |
■ |
Each
Fund will only buy securities that have remaining maturities of 397 days
or less as determined under Rule 2a-7. |
■ |
The
dollar-weighted average maturity of each Fund will be 60 days or
less. |
■ |
The
dollar-weighted average life of each Fund will be 120 days or
less. |
■ |
Each
Fund will invest only in U.S. dollar-denominated
securities. |
■ |
Each
Fund will value its assets based on the total market value of all the
securities it holds using the amortized cost method. |
In order to
obtain a rating from a rating organization, some Funds may observe additional
investment restrictions.
14 |
|
Government
Money Market Funds |
Government
Money Market Fund
Investment
Objective
The Fund
seeks current income, while preserving capital and liquidity.
The Fund’s
Board of Trustees can change this investment objective without a shareholder
vote.
Principal
Investment Strategies
Under
normal circumstances, we invest:
■ |
exclusively
in high-quality, short-term, U.S. dollar-denominated money market
instruments that consist of U.S. Government
obligations and repurchase agreements collateralized by U.S. Government
obligations. |
These
investments may have fixed, floating, or variable rates of
interest.
Our
security selection is based on several factors, including credit quality, yield
and maturity, while taking into account the Fund’s
overall level of liquidity and weighted average maturity. We will only purchase
securities that we have determined
present minimal credit risk.
The Fund
may temporarily hold a greater portion of assets in uninvested cash for purposes
of maintaining liquidity or for
short-term defensive purposes when we believe it is in the best interest of
shareholders to do so. During these periods,
the Fund may not achieve its objective.
The Fund is
primarily subject to the risks mentioned below.
These and
other risks could cause you to lose money in your investment in the Fund and
could adversely affect the Fund’s net
asset value, yield and total return. These risks are described in the
“Description of Principal Investment Risks”
section.
Government
Money Market Funds
|
|
15 |
Treasury
Plus Money Market Fund
Investment
Objective
The Fund
seeks current income, while preserving capital and liquidity.
The Fund’s
Board of Trustees can change this investment objective without a shareholder
vote.
Principal
Investment Strategies
Under
normal circumstances, we invest:
■ |
exclusively
in high-quality, short-term, U.S. dollar-denominated money market
instruments that consist of U.S. Treasury
obligations and repurchase agreements collateralized by U.S. Treasury
obligations. |
Our
security selection is based on several factors, including credit quality, yield
and maturity, while taking into account the Fund’s
overall level of liquidity and weighted average maturity. We will only purchase
securities that we have determined
present minimal credit risk.
The Fund
may temporarily hold a greater portion of assets in uninvested cash for purposes
of maintaining liquidity or for
short-term defensive purposes when we believe it is in the best interest of
shareholders to do so. During these periods,
the Fund may not achieve its objective.
The Fund is
primarily subject to the risks mentioned below.
These and
other risks could cause you to lose money in your investment in the Fund and
could adversely affect the Fund’s net
asset value, yield and total return. These risks are described in the
“Description of Principal Investment Risks”
section.
16 |
|
Government
Money Market Funds |
100%
Treasury Money Market Fund
Investment
Objective
The Fund
seeks current income exempt from most state and local individual income taxes,
while preserving capital and liquidity.
The Fund’s
Board of Trustees can change this investment objective without a shareholder
vote.
Principal
Investment Strategies
Under
normal circumstances, we invest:
■ |
exclusively
in high-quality, short-term, U.S. dollar-denominated money market
instruments that consist of U.S. Treasury
obligations. |
Our
security selection is based on several factors, including yield and maturity,
while taking into account the Fund’s overall
level of liquidity and weighted average maturity. We will only purchase
securities that we have determined present
minimal credit risk.
The Fund
may temporarily hold a greater portion of assets in uninvested cash for purposes
of maintaining liquidity or for
short-term defensive purposes when we believe it is in the best interest of
shareholders to do so. During these periods,
the Fund may not achieve its objective.
The Fund is
primarily subject to the risks mentioned below.
These and
other risks could cause you to lose money in your investment in the Fund and
could adversely affect the Fund’s net
asset value, yield and total return. These risks are described in the
“Description of Principal Investment Risks”
section.
Government
Money Market Funds
|
|
17 |
Description
of Principal Investment Risks
Understanding
the risks involved in fund investing will help you make an informed decision
that takes into account your risk
tolerance and preferences. The risks that are most likely to have a material
effect on a particular Fund as
a whole are called
“principal risks.” The principal risks for each Fund have
been previously identified and are described below (in alphabetical
order). Additional information about the principal risks is included in the
Statement of Additional Information.
Debt
Securities Risk. Debt
securities are subject to credit risk and interest rate risk. Credit risk is the
possibility that the issuer or
guarantor of a debt security may be unable, or perceived to be unable or
unwilling, to pay interest or repay principal
when they become due. In these instances, the value of an investment could
decline and the Fund could lose money.
Credit risk increases as an issuer’s credit quality or financial strength
declines. The credit quality of a debt security
may deteriorate rapidly and cause significant deterioration in the Fund’s net
asset value. Interest rate risk is the possibility
that interest rates will change over time. When interest rates rise, the value
of debt securities tends to fall. The longer
the terms of the debt securities held by a Fund, the more the Fund is subject to
this risk. If interest rates decline,
interest that the Fund is able to earn on its investments in debt securities may
also decline, which could cause the Fund to
reduce the dividends it pays to shareholders, but the value of those securities
may increase. Some debt securities
give the issuers the option to call, redeem or prepay the securities before
their maturity dates. If an issuer calls,
redeems or prepays a debt security during a time of declining interest rates,
the Fund might have to reinvest the proceeds in
a security offering a lower yield, and therefore might not benefit from any
increase in value as a result of declining
interest rates. Very low or negative interest rates may magnify interest rate
risk. Changing interest rates, including
rates that fall below zero, may have unpredictable effects on markets, may
result in heightened market volatility
and may detract from Fund performance to the extent the Fund is exposed to such
interest rates. Interest rate changes and
their impact on the Fund and its share price can be sudden and unpredictable.
Changes in market conditions
and government policies may lead to periods of heightened volatility in the debt
securities market, reduced liquidity
Fund investments and an increase in Fund redemptions.
Management
Risk. Investment
decisions, techniques, analyses or models implemented by a Fund’s manager or
sub-adviser
in seeking to achieve the Fund’s investment objective may not produce the
returns expected, may cause the Fund’s
shares to lose value or may cause the Fund to underperform other funds with
similar investment objectives.
Market
Risk. The values
of, and/or the income generated by, securities held by a Fund may decline due to
general market
conditions or other factors, including those directly involving the issuers of
such securities. Securities markets are
volatile and may decline significantly in response to adverse issuer,
regulatory, political, or economic developments.
Different sectors of the market and different security types may react
differently to such developments. Political,
geopolitical, natural and other events, including war, terrorism, trade
disputes, government shutdowns, market
closures, inflation, natural and environmental disasters, epidemics, pandemics
and other public health crises and related
events have led, and in the future may lead, to economic uncertainty, decreased
economic activity, increased
market volatility and other disruptive effects on U.S. and global economies and
markets. Such events may have
significant adverse direct or indirect effects on a Fund and its investments. In
addition, economies and financial markets
throughout the world are becoming increasingly interconnected, which increases
the likelihood that events or conditions
in one country or region will adversely impact markets or issuers in other
countries or regions.
Money
Market Fund Risk. The Fund’s
yield will change based on changes in interest rates and other market
conditions. Because the
Fund invests in short-term instruments, the Fund’s dividend yields are expected
to be low when short-term market
interest rates are low, and there is no guarantee that the Fund will not have a
negative yield.
Repurchase
Agreement Risk. In the
event that the counterparty to a repurchase agreement is unwilling or unable to
fulfill its
contractual obligations to repurchase the underlying security, a Fund may lose
money, suffer delays, or incur costs
arising from holding or selling the underlying security.
U.S.
Government Obligations Risk. U.S.
Government obligations may be adversely impacted by changes in interest
rates, and
securities issued or guaranteed by U.S. Government agencies or
government-sponsored entities may not be backed by
the full faith and credit of the U.S. Government. If a government-sponsored
entity is unable to meet its obligations
or its creditworthiness declines, the performance of a Fund that holds
securities issued or guaranteed by the entity
will be adversely impacted. U.S. Government obligations may be adversely
affected by a default by, or decline in
the credit quality, of the U.S. Government.
18 |
|
Government
Money Market Funds |
Portfolio
Holdings Information
A
description of the Allspring
Funds’ policies and procedures with respect to disclosure of the Funds’ portfolio
holdings is
available in the Funds’
Statement of Additional Information.
Pricing Fund
Shares
A Fund’s
net asset value (“NAV”) is the value of a single share. The NAV is calculated
each business day at the times reflected
below, although a Fund may deviate from these calculation times under unusual or
unexpected circumstances.
The NAV is calculated separately for each class of shares of a multiple-class
Fund. The last NAV calculated
on the most recent business day is available at allspringglobal.com. To
calculate the NAV of a Fund’s shares, the Fund’s
assets are valued and totaled, liabilities are subtracted, and the balance,
called net assets, is divided by the number of
shares outstanding.
We
calculate the NAV at the following times each business day:
|
|
|
Government
Money Market Fund Treasury
Plus Money Market Fund |
8:00a.m.,
9:00a.m., 10:00a.m., 11:00a.m., 12:00p.m., 1:00p.m., 2:00p.m.,
3:00p.m.,
4:00p.m. and 5:00p.m. (ET) |
100%
Treasury Money Market Fund |
8:00a.m.,
9:00a.m., 10:00a.m., 11:00a.m., 12:00p.m., 1:00p.m. and 4:00p.m.
(ET) |
Generally,
NAV is not calculated, and purchase and redemption requests are not processed,
on days that the New York Stock
Exchange (“NYSE”) is closed for trading; however, a Fund may elect to remain
open even on days that the NYSE is closed if
the Securities Industry and Financial Markets Association (“SIFMA”) recommends
that the bond markets remain
open. If the markets close early or if SIFMA recommends that the markets close
early, a Fund may close early and may
calculate its NAV at earlier times under these circumstances. The price at which
a purchase or redemption request for
Fund shares is processed is based on the next NAV calculated after the request
is received in good order. In the case of
an exchange order, the exchange order is deemed to be a request for the
redemption of shares of one Fund and for the
purchase of shares of another Fund, and will be processed at the next time that
both Funds calculate their NAVs at the
same time. Information on the timing of dividend accrual and settlement in
connection with a purchase or redemption
of shares can be found in the section of this Prospectus entitled “Buying and
Selling Fund Shares.”
A Fund’s
assets are valued using the amortized cost method, in accordance with Rule 2a-7
under the Investment Company Act
of 1940, as amended (the “1940 Act”). Portfolio securities are valued at their
acquisition cost, adjusted for
discounts or premiums reflected in their purchase price regardless of the impact
of fluctuating interest rates on the market
value of the instrument. This method of valuation is designed to enable a Fund
to price its shares at $1.00 per share,
although the value of the Fund’s shares based on the mark-to-market valuation
method may be more or less than $1.00 per
share.
The Board
of Trustees has approved procedures designed to monitor a Fund’s price per
share. The Manager monitors the value
of the Fund’s shares based on the mark-to-market valuation method and will
promptly notify the Board when the Fund’s
mark-to-market value deviates more than 0.25% from the Fund’s established NAV of
$1.00 per share. In the event that
the Board determines that a deviation exists that may result in material
dilution or other unfair results to shareholders,
the Fund will take such corrective action as it deems necessary, which may
include, among other things, establishing
a NAV of less than or more than $1.00 per share by using available market
quotations or suspending the redemption
of shares and liquidating the Fund under Rule 22e-3 under the 1940 Act. See the
Statement of Additional Information
for additional details regarding the determination of NAVs.
Government
Money Market Funds
|
|
19 |
Management
of the Funds
The
Manager
Allspring
Funds Management, LLC (“Allspring
Funds Management”), headquartered at 1415 Vantage Park Drive, 3rd Floor,
Charlotte, NC 28203, provides advisory
and Fund-level administrative services to the Funds
pursuant to an investment
management agreement (the “Management Agreement”). Allspring
Funds Management is a wholly owned subsidiary
of Allspring Global Investments Holdings, LLC, a holding company indirectly
owned by certain private funds of GTCR LLC
and Reverence Capital Partners, L.P. Allspring Funds Management is a registered
investment adviser that provides
advisory services for registered mutual funds, closed-end funds and other funds
and accounts.
Allspring
Funds Management is responsible for implementing the investment objectives and
strategies of the Funds.
Allspring
Funds Management’s investment professionals review and analyze the Funds’
performance, including relative to peer
funds, and monitor the Funds’
compliance with their
investment objectives and strategies. Allspring
Funds Management
is responsible for reporting to the Board on investment performance and other
matters affecting the Funds. When
appropriate, Allspring
Funds Management recommends to the Board enhancements to Fund features,
including
changes to Fund investment objectives, strategies and policies. Allspring
Funds Management also communicates
with shareholders
and intermediaries about Fund performance and features.
Allspring
Funds Management is also responsible for providing Fund-level
administrative services to the Funds,
which include,
among others, providing such services in connection with the Funds’
operations; developing and implementing
procedures for monitoring compliance with regulatory requirements and compliance
with the Funds’
investment
objectives, policies and restrictions; and providing any
other Fund-level
administrative services reasonably necessary
for the operation of the Funds,
other than those services that are provided by the Funds’ transfer
and dividend
disbursing agent, custodian and fund accountant.
To assist
Allspring
Funds Management in implementing the investment objectives and strategies of the
Funds,
Allspring
Funds
Management may contract with one or more sub-advisers to provide day-to-day
portfolio management services to the
Funds.
Allspring
Funds Management employs a team of investment professionals who identify and
recommend the initial
hiring of any sub-adviser and oversee and monitor the activities of any
sub-adviser on an ongoing basis. Allspring
Funds Management retains overall responsibility for the investment activities of
the Funds.
A
discussion regarding the basis for the Board’s approval of
the Management
Agreement and any applicable sub-advisory
agreements for each Fund is
available in the Fund’s semi-annual
report for the period ended July
31st.
For each Fund’s most
recent fiscal year end, the management
fee paid to Allspring
Funds Management pursuant to the Management
Agreement, net of any applicable waivers and reimbursements, was as
follows:
|
|
Management
Fees Paid |
|
As
a % of average daily net assets |
Government
Money Market Fund |
0.08% |
Treasury
Plus Money Market Fund |
0.10% |
100%
Treasury Money Market Fund |
0.10% |
20 |
|
Government
Money Market Funds |
The
Sub-Adviser
The
following sub-adviser
provides day-to-day portfolio management services to the Funds.
These services include making
purchases and sales of securities and other investment assets for the
Funds,
selecting broker-dealers, negotiating
brokerage commission rates and maintaining portfolio transaction records.
The sub-adviser is
compensated
for its services by Allspring Funds Management from the fees Allspring Funds
Management receives for its
services as adviser to the Funds.
Allspring
Global Investments, LLC
(“Allspring Investments”) is a registered investment adviser located
at 1415 Vantage Park Drive,
3rd Floor, Charlotte, NC 28203. Allspring Investments, an affiliate of Allspring
Funds Management and wholly
owned subsidiary of Allspring Global Investments Holdings, LLC, is a
multi-boutique asset management firm committed
to delivering superior investment services to institutional clients, including
mutual funds.
Multi-Manager
Arrangement
The Funds and
Allspring
Funds Management have obtained an exemptive order from the SEC that
permits Allspring
Funds
Management, subject to Board approval, to select certain sub-advisers and enter
into or amend sub-advisory agreements
with them, without obtaining shareholder approval. The SEC order extends to
sub-advisers that are not otherwise
affiliated with Allspring
Funds Management or the Funds, as
well as sub-advisers that are wholly-owned subsidiaries
of Allspring
Funds Management or of a company that wholly owns Allspring
Funds Management. In addition,
the SEC staff, pursuant to no-action relief, has extended multi-manager relief
to any affiliated sub-adviser, such as
affiliated sub-advisers that are not wholly-owned subsidiaries of Allspring
Funds Management or of a company that wholly
owns Allspring
Funds Management, provided certain conditions are satisfied (all such
sub-advisers covered by the
order or relief, “Multi-Manager Sub-Advisers”).
As such,
Allspring
Funds Management, with Board approval, may hire or replace Multi-Manager
Sub-Advisers for each Fund that
is eligible to rely on the order or relief. Allspring
Funds Management, subject to Board oversight, has the responsibility
to oversee Multi-Manager Sub-Advisers and to recommend their hiring, termination
and replacement. If a new
sub-adviser is hired for a Fund pursuant to the order or relief, the Fund is
required to notify shareholders within 90 days.
The Funds are not
required to disclose the individual fees that Allspring
Funds Management pays to a Multi-Manager
Sub-Adviser.
Government
Money Market Funds
|
|
21 |
Account
Information
Share
Class Eligibility
Please see
the section entitled “Purchase and Sale of Fund Shares” in the Fund Summary for
a schedule of minimum investment
amounts. Purchases made through a customer account at an intermediary may be
subject to different minimum
investment amounts. Please contact your financial professional for additional
information.
We allow
reduced minimum initial and subsequent investment amounts if you sign up for an
automatic investment plan. For
additional information regarding available automatic plans, please see the
section entitled “Account Policies” below.
Your Fund
may offer other classes of shares in addition to those offered through this
Prospectus. You may be eligible to invest in
one or more of these other classes of shares. Each share class bears varying
expenses and may differ in other features.
Consult your financial professional for more information regarding a Fund’s
available share classes.
The
information in this Prospectus is not intended for distribution to, or use by,
any person or entity in any non-U.S. jurisdiction
or country where such distribution or use would be contrary to any law or
regulation, or which would subject
Fund shares to any registration requirement within such jurisdiction or
country.
Compensation
to Financial Professionals and Intermediaries
Shareholder
Servicing Plan
Each Fund
has adopted a shareholder servicing plan (“Servicing Plan”). The Servicing Plan
authorizes the Fund to enter into
agreements with the Fund’s distributor, manager, or any of their affiliates to
provide or engage other entities to provide
certain shareholder services, including establishing and maintaining shareholder
accounts, processing and verifying
purchase,
redemption and exchange transactions, and providing such other shareholder
liaison or related services as
may reasonably be requested. Under the Servicing Plan, fees are paid up to the
following amounts:
|
|
|
Fund
|
Class
A |
Government
Money Market Fund |
|
0.25% |
Treasury
Plus Money Market Fund |
|
0.25% |
100%
Treasury Money Market Fund |
|
0.25% |
Additional
Payments to Financial Professionals and Intermediaries
In addition
to dealer reallowances and payments made by certain classes
of each Fund
for distribution and shareholder servicing,
the Fund’s manager, the distributor or their affiliates make additional payments
(“Additional Payments”) to certain
financial professionals and intermediaries for selling shares and providing
shareholder services, which include broker-dealers
and 401(k) service providers and record keepers. These Additional Payments,
which may be significant, are paid by
the Fund’s manager, the distributor or their affiliates, out of their revenues,
which generally come directly or indirectly
from Fund fees.
In return
for these Additional Payments, each Fund’s
manager and distributor expect the Fund to receive certain marketing
or servicing considerations that are not generally available to mutual funds
whose sponsors do not make such
payments. Such considerations are expected to include, without limitation,
placement of the Fund on a list of mutual
funds offered as investment options to the intermediary’s clients (sometimes
referred to as “Shelf Space”); access to
the intermediary’s financial professionals; and/or the ability to assist in
training and educating the intermediary’s
financial professionals.
The
Additional Payments may create potential conflicts of interest between an
investor and a financial professional or intermediary
who is recommending or making available a particular mutual fund over other
mutual funds. Before investing,
you should consult with your financial professional and review carefully any
disclosure by the intermediary as to what
compensation the intermediary receives from mutual fund sponsors, as well as how
your financial professional is
compensated.
The
Additional Payments are typically paid in fixed dollar amounts, based on the
number of customer accounts maintained
by an intermediary, or based on a percentage of sales and/or assets under
management, or a combination of the
above. The Additional Payments are either up-front or ongoing or both and differ
among intermediaries. In a given year,
Additional Payments to an intermediary that is compensated based on its
customers’ assets typically range
22 |
|
Government
Money Market Funds |
between
0.02% and 0.25% of assets invested in a Fund by the intermediary’s customers.
Additional Payments to an intermediary
that is compensated based on a percentage of sales typically range between 0.10%
and 0.25% of the gross sales
of a Fund attributable to the financial intermediary.
More
information on the FINRA member firms that have received the Additional Payments
described in this section is available
in the Statement of Additional Information, which is on file with the SEC and is
also available on the Allspring
Funds
website at www.allspringglobal.com.
Buying
and Selling Fund Shares
For more
information regarding buying and selling Fund shares, please visit www.allspringglobal.com.
You may buy (purchase)
and sell (redeem) Fund shares as follows:
|
|
|
|
Opening
an Account |
Adding
to an Account or Selling Fund Shares |
Through
Your Financial Professional |
Contact
your financial
professional.
Transactions
will be subject to the terms
of your account with your intermediary. |
Contact
your financial professional.
Transactions
will be subject to the terms of
your account with your intermediary. |
Through
Your Retirement Plan |
Contact
your retirement plan administrator.
Transactions
will be subject to the terms
of your retirement plan account. |
Contact
your retirement plan administrator.
Transactions
will be subject to the terms of
your retirement plan account. |
Online |
New
accounts cannot be opened online.
Contact your financial professional
or retirement plan administrator,
or refer to the section on
opening an account by mail. |
Visit
www.allspringglobal.com.
Online
transactions are limited to a maximum
of $100,000. You may be eligible
for an exception to this maximum.
Please call Investor Services at
1-800-222-8222 for more information. |
By
Telephone |
Call
Investor Services at 1-800-222-8222.
Available
only if you have another Allspring
Fund account with your bank
information on file. |
Call
Investor Services at 1-800-222-8222.
Redemption
requests may not be made by
phone if the address on your account was
changed in the last 15 days. In this event,
you must request your redemption
by mail. For joint accounts, telephone
requests generally require only
one of the account owners to call unless
you have instructed us otherwise. |
By
Mail |
Complete
an account application and
submit it according to the instructions
on the application.
Account
applications are available online
at www.allspringglobal.com
or by
calling Investor Services at 1-800-222-8222. |
Send
the items required under “Requests
in Good Order” below to:
Regular
Mail Allspring
Funds P.O.
Box 219967 Kansas
City, MO 64121-9967
Overnight
Only Allspring
Funds 430 W
7th Street STE 219967 Kansas
City, MO 64105-1407 |
Requests
in “Good Order”. All
purchase and redemption requests must be received in “good order.” This means
that a request
generally must include:
■ |
The
Fund name(s), share class(es) and account
number(s); |
■ |
The
amount (in dollars or shares) and type (purchase or redemption) of the
request; |
■ |
If by
mail, the signature of each registered owner as it appears in the account
application; |
■ |
For
purchase requests, payment of the full amount of the purchase request (see
“Payment” below); |
■ |
For
redemption requests, a Medallion Guarantee if required (see “Medallion
Guarantee” below); and |
Government
Money Market Funds
|
|
23 |
■ |
Any
supporting legal documentation that may be
required. |
Purchase
and redemption requests in good order will be processed at the next NAV
calculated after the Fund’s transfer agent or an
authorized intermediary1 receives
your request. If your request is not received in good order, additional
documentation
may be required to process your transaction. We reserve the right to waive any
of the above requirements.
1. |
The
Fund’s shares may be purchased through an intermediary that has entered
into a dealer agreement with the Fund’s distributor. The
Fund has approved the acceptance of a purchase or redemption request
effective as of the time of its receipt by such an authorized
intermediary or its designee, as long as the request is received by one of
those entities prior to the Fund’s closing time. These
intermediaries may charge transaction fees. We reserve the right to adjust
the closing time in certain circumstances. |
Medallion
Guarantee. A
Medallion Guarantee is only required for a mailed redemption request under the
following circumstances:
(1) if the address on your account was changed within the last 15 days; (2) if
the amount of the redemption
request exceeds $100,000 and is to be paid to a bank account that is not
currently on file with Allspring
Funds or if
all of the owners of your Allspring
Fund account are not included in the registration of the bank account
provided;
or (3) if the redemption request proceeds are to be paid to a third party. You
can get a Medallion Guarantee at a
financial institution such as a bank or brokerage house. We do not accept
notarized signatures.
Payment. Payment
for Fund shares may be made as follows:
|
|
By
Wire |
Purchases
into a new or existing account may be funded by using the following
wire
instructions:
State
Street Bank & Trust Boston,
MA Bank
Routing Number: ABA 011000028 Wire
Purchase Account: 9905-437-1 Attention:
Allspring
Funds (Name
of Fund, Account Number and any applicable share class) Account
Name: Provide your name as registered on the Fund account or as
included
in your account application. |
By
Check |
Make
checks payable to Allspring
Funds. |
By
Exchange |
Identify
an identically registered Allspring
Fund account from which you wish to exchange
(see “Exchanging Fund Shares” below for restrictions on
exchanges). |
By
Electronic Funds Transfer (“EFT”) |
Additional
purchases for existing accounts may be funded by EFT using your
linked
bank account. |
All
payments must be in U.S. dollars, and all checks and EFTs must be drawn on U.S.
banks. You will be charged a $25.00 fee
for every check or EFT that is returned to us as unpaid.
Form of
Redemption Proceeds. You may
request that your redemption proceeds be sent to you by check, by EFT into a
linked bank
account, or by wire to a linked bank account. Please call Investor Services at
1-800-222-8222 regarding the requirements
for linking bank accounts or for wiring funds. Under normal circumstances, we
expect to meet redemption
requests either by using uninvested cash or cash equivalents or by using the
proceeds from the sale of portfolio
securities, at the discretion of the portfolio manager(s). The Allspring Funds
may also borrow through a bank line of
credit for the purpose of meeting redemption requests, although we do not expect
to draw funds from this source on a
regular basis. In lieu of making cash payments, we reserve the right to
determine in our sole discretion, including
under stressed market conditions, whether to satisfy redemption requests by
making payments in securities. In such
cases, we may meet all or part of a redemption request by making payment in
securities equal in value to the amount of
the redemption payable to you as permitted under the 1940 Act, and the rules
thereunder, in which case the redeeming
shareholder should expect to incur transaction costs upon the disposition of any
securities received.
Timing
of Redemption Proceeds/Right to Delay Payment. For the
100% Treasury Money Market Fund, we can delay the payment
of a redemption for up to seven days. We may delay the payment of a redemption
for longer than seven days under
extraordinary circumstances. For the Government Money Market Fund and Treasury
Plus Money Market Fund, we
can delay the payment of a redemption for longer than one day if there is a
non-routine closure of the Fedwire or
Federal Reserve Bank or under extraordinary circumstances.
We normally
send out checks within one business day after we accept your request to redeem.
We reserve the right to delay
payment for up to seven days. If you wish to redeem shares purchased by check,
by EFT or through the Automatic
Investment Plan within seven days of purchase, you may be asked to resubmit your
redemption request if
24 |
|
Government
Money Market Funds |
your
payment has not yet cleared. Redemption payments may be delayed under
extraordinary circumstances or as permitted
by the SEC in order to protect remaining shareholders.
Under the
extraordinary circumstances discussed under Section 22(e) under the Investment
Company Act of 1940, as amended, we
may suspend the right of redemption or postpone the date of payment of a
redemption for longer than one day for
the Government Money Market Fund and Treasury Plus Money Market Fund, and for
longer than seven days for the
100% Treasury Money Market Fund. Generally, those extraordinary circumstances
are when: (i) the New York Stock
Exchange is closed or trading thereon is restricted; (ii) an emergency exists
which makes the disposal by a Fund of
securities it owns, or the fair determination of the value of the Fund’s net
assets not reasonable practical; or (iii) the SEC, by
order, permits the suspension of the right of redemption for the protection of
shareholders.
Payment
of Dividends. Requests
for redemption proceeds by check or Electronic Funds Transfer that are received
in good order
will be sent out by the next business day after receipt and will earn a dividend
until the day such proceeds are
sent.
Redemption
Orders. Wire
redemptions will be processed and earn dividends as listed in the table
below.
|
|
|
If
a Request is Received in Good Order: |
Proceeds
Wired |
Dividends |
100%
Treasury Money Market Fund |
|
|
|
Same
Business Day |
Not
earned on day of request |
|
Next
Business Day |
Earned
on day of request |
Government
Money Market Fund Treasury
Plus Money Market Fund |
|
|
|
Same
Business Day |
Not
earned on day of request |
|
Next
Business Day |
Earned
on day of request |
Retirement
Plans and Other Products. If you
purchased shares through a packaged investment product or retirement
plan, read
the directions for selling shares provided by the product or plan. There may be
special requirements that supercede
the directions in this Prospectus.
Exchanging
Fund Shares
Exchanges
between two funds involve two transactions: (1) the redemption of shares of one
fund; and (2) the purchase of shares
of another. In general, the same rules and procedures described under “Buying
and Selling Fund Shares” apply to
exchanges. There are, however, additional policies and considerations you should
keep in mind while making or
considering an exchange:
■ |
In
general, exchanges may be made between like share classes of any fund in
the Allspring
Funds complex offered to
the general public for investment (i.e., a fund not closed to new
accounts), with the following exceptions: (1) Class A
shares of non-money market funds may also be exchanged for Service Class
shares of any retail or government money
market fund; (2) Service Class shares may be exchanged for Class A shares
of any non-money market fund; and
(3) no exchanges are allowed into institutional money market
funds. |
■ |
If
you make an exchange between Class A shares of a money market fund or
Class A2 or Class A shares of a non-money
market fund, you will buy the shares at the public offering price of the
new fund, unless you are otherwise
eligible to buy shares at NAV. |
■ |
Same-fund
exchanges between share classes are permitted subject to the following
conditions: (1) the shareholder must
meet the eligibility guidelines of the class being purchased in the
exchange; (2) exchanges out of Class A and Class
C shares would not be allowed if shares are subject to a CDSC; and (3) for
non-money market funds, in order to exchange
into Class A shares, the shareholder must be able to qualify to purchase
Class A shares at NAV based on current
Prospectus guidelines. |
■ |
An
exchange request will be processed on the same business day, provided that
both funds are open at the time the request
is received. If one or both funds are closed, the exchange will be
processed on the following business day. |
■ |
You
should carefully read the Prospectus for the Fund into which you wish to
exchange. |
■ |
Every
exchange involves redeeming fund shares, which may produce a capital gain
or loss for tax purposes. |
■ |
If
you are making an initial investment into a fund through an exchange, you
must exchange at least the minimum |
Government
Money Market Funds
|
|
25 |
|
initial
investment amount for the new fund, unless your balance has fallen below
that amount due to investment performance. |
■ |
If
you are making an additional investment into a fund that you already own
through an exchange, you must exchange
at least the minimum subsequent investment amount for the fund you are
exchanging into. |
■ |
Class
A and Class C share exchanges will not trigger a CDSC. The new shares
received in the exchange will continue to
age according to the original shares’ CDSC schedule and will be charged
the CDSC applicable to the original shares
upon redemption. |
Generally,
we will notify you at least 60 days in advance of any changes in the above
exchange policies.
Frequent
Purchases and Redemptions of Fund Shares
Excessive
trading by Fund shareholders can negatively impact a Fund and its long-term
shareholders by increasing expenses or
lowering returns. However, money market funds, which are typically utilized by
investors for cash management
purposes and invest in highly liquid securities, are not as susceptible to these
negative effects as non-money
market Funds.
Although
the policies adopted by the Funds do
not prohibit frequent trading between money market Funds, Allspring Funds
Management will seek to prevent an investor from utilizing a money market Fund
to facilitate frequent purchases and
redemptions of shares in non-money market Funds. If Allspring Funds Management
determines that an investor has engaged
in timing activities in contravention of the Funds’
policies (as described in the prospectus for the non-money
market Fund), Allspring Funds Management will prevent such investor from
investing in the non-money market Fund
for a period of 30 calendar days.
In
addition, Allspring Funds Management reserves the right to accept purchases,
redemptions and exchanges made in excess of
applicable trading restrictions in designated accounts held by Allspring Funds
Management or its affiliate that are
used at all times exclusively for addressing operational matters related to
shareholder accounts, such as testing of
account functions, and are maintained at low balances that do not exceed
specified dollar amount limitations.
Account
Policies
Advance
Notice of Large Transactions.
We strongly
urge you to begin all purchases and redemptions as early in the day as possible
and to notify us at least one day in
advance of transactions in excess of $50,000,000. This will allow us to manage
your Fund most effectively. When you
give us this advance notice, you must provide us with your name and account
number.
Automatic
Plans. These
plans help you conveniently purchase and/or redeem shares each month. Once you
select a plan, tell
us the day of the month you would like the transaction to occur. If you do not
specify a date, we will process the
transaction on or about the 25th day of the month. It generally takes about ten
business days to establish a plan once we
have received your instructions and it generally takes about five business days
to change or cancel participation
in a plan. We may automatically cancel your plan if the linked bank account you
specified is closed, or for other
reasons. Call Investor Services at 1-800-222-8222 for more
information.
■ |
Automatic
Investment Plan — With this plan, you can regularly purchase shares of a
Allspring Fund with money automatically
transferred from a linked bank account. |
■ |
Automatic
Exchange Plan — With this plan, you can regularly exchange shares of a
Allspring Fund you own for shares of
another Allspring Fund. See the section ”Exchanging Fund Shares” of this
Prospectus for the policies that apply to exchanges.
In addition, each transaction in an Automatic Exchange Plan must be for a
minimum of $100. This feature
may not be available for certain types of
accounts. |
■ |
Systematic
Withdrawal Plan — With this plan, you can regularly redeem shares and
receive the proceeds by check or by
transfer to a linked bank account. To participate in this plan,
you: |
• |
must
have a Fund account valued at $10,000 or
more; |
• |
must
request a minimum redemption of $100; |
• |
must
have your distributions reinvested. |
■ |
Payroll
Direct Deposit Plan — With this plan, you may regularly transfer all or a
portion of your paycheck, social security
check, military allotment, or annuity payment for investment into the Fund
of your choice. |
Householding. To help
keep Fund expenses low, a single copy of a Prospectus or shareholder report may
be sent to shareholders
of the same household. If your household currently receives a single copy of a
Prospectus or shareholder
26 |
|
Government
Money Market Funds |
report and
you would prefer to receive multiple copies, please call Investor Services at
1-800-222-8222 or contact your financial
professional.
Retirement
Accounts. We offer a
variety of retirement account types for individuals and small businesses. There
may be special
distribution requirements for a retirement account, such as required
distributions or mandatory Federal income tax
withholdings. For more information about the retirement accounts listed below,
including any distribution requirements,
call Investor Services at 1-800-222-8222. For retirement accounts held directly
with a Fund, certain fees may apply,
including an annual account maintenance fee.
The
retirement accounts available for individuals and small businesses
are:
■ |
Individual
Retirement Accounts, including Traditional IRAs and Roth
IRAs |
■ |
Small
business retirement accounts, including Simple IRAs and SEP
IRAs. |
Small
Account Redemptions. We reserve
the right to redeem accounts that have values that fall below a Fund’s
minimum
initial investment amount due to shareholder redemptions (as opposed to market
movement). Before doing so, we will
give you approximately 60 days to bring your account value above the Fund’s
minimum initial investment amount.
Please call Investor Services at 1-800-222-8222 or contact your financial
professional for further details.
Transaction
Authorizations. We may
accept telephone, electronic, and clearing agency transaction instructions from
anyone who
represents that he or she is a shareholder and provides reasonable confirmation
of his or her identity. Neither we
nor Allspring Funds will be liable for any losses incurred if we follow such
instructions we reasonably believe to be
genuine. For transactions through our website, we may assign personal
identification numbers (PINs) and you will need to
create a login ID and password for account access. To safeguard your account,
please keep these credentials confidential.
Contact us immediately if you believe there is a discrepancy on your
confirmation statement or if you believe
someone has obtained unauthorized access to your online access
credentials.
Identity
Verification. We are
required by law to obtain from you certain personal information that will be
used to verify your
identity. If you do not provide the information, we will not be able to open
your account. In the rare event that we are unable
to verify your identity as required by law, we reserve the right to redeem your
account at the current NAV of the Fund’s
shares. You will be responsible for any losses, taxes, expenses, fees, or other
results of such a redemption.
Right to
Freeze Accounts, Suspend Account Services or Reject or Terminate an
Investment. We reserve
the right, to the extent
permitted by law and/or regulations, to freeze any account or suspend account
services when we have received
reasonable notice (written or otherwise) of a dispute between registered or
beneficial account owners or when we
believe a fraudulent transaction may occur or has occurred. Additionally, we
reserve the right to reject any purchase or
exchange request and to terminate a shareholder’s investment, including closing
the shareholder’s account.
Government
Money Market Funds
|
|
27 |
Distributions
The Funds
declare distributions of net investment income, if any, daily, and make such
distributions, if any, monthly. The Funds
generally make distributions of realized net capital gains, if
any, annually. Your distributions will be automatically
reinvested in additional shares, unless you or your Institution directs
otherwise. Your other options are to receive
checks for these payments, have them automatically invested in the same class of
another Allspring Fund, or have them
deposited into your bank account. With the check payment option, if checks
remain uncashed for six months or
are undeliverable by the Post Office, we will reinvest the distributions at the
earliest date possible, and future
distributions will be automatically reinvested.
We offer
the following distribution options. To change your current option for payment of
distributions, please call 1-800-222-8222.
■ |
Automatic
Reinvestment Option—Allows
you to buy new shares of the same class of the Fund that generated the
distributions.
The new shares are purchased at NAV generally on the day the distribution
is paid. This option is automatically
assigned to your account unless you specify another
option. |
■ |
Check
Payment Option—Allows
you to have checks for distributions mailed to your address of record or
to another name
and address which you have specified in written instructions. A medallion
guarantee may also be required. If checks
remain uncashed for six months or are undeliverable by the Post Office, we
will reinvest the distributions at the
earliest date possible, and future distributions will be automatically
reinvested. |
■ |
Bank
Account Payment Option—Allows
you to receive distributions directly in a checking or savings account
through
Electronic Funds Transfer. The bank account must be linked to your Fund
account. Any distribution returned to us
due to an invalid banking instruction will be sent to your address of
record by check at the earliest date possible,
and future distributions will be automatically
reinvested. |
■ |
Directed
Distribution Purchase Option—Allows
you to buy shares of a different Allspring Fund of the same share
class.
The new shares are purchased at NAV generally on the day the distribution
is paid. In order to establish this option,
you need to identify the Fund and account the distributions are coming
from, and the Fund and account to which
the distributions are being directed. You must meet any required minimum
purchases in both Funds prior to establishing
this option. |
■ |
Earning
Distributions.
Shares begin earning dividends after the transfer agent or an authorized
intermediary receives
your purchase order in proper form and the purchase amount is received by
the Fund’s custodian. Assuming
the purchase amount is received by the Fund’s custodian no later than the
close of the Federal Funds wire, which
is normally 6:00 p.m. (ET), dividends will accrue as
follows: |
|
|
If
a Request is Received in Good Order: |
Dividends
Begin to Accrue: |
100%
Treasury Money Market Fund |
|
|
Same
Business Day |
|
Next
Business Day |
Government
Money Market Fund Treasury
Plus Money Market Fund |
|
|
Same
Business Day |
|
Next
Business Day |
28 |
|
Government
Money Market Funds |
Other
Information
Taxes
The
following discussion regarding income taxes is based on laws that were in effect
as of the date of this Prospectus and
summarizes only some of the important federal and state income tax
considerations affecting the Funds and you as a
shareholder. It does not apply to foreign or tax-exempt shareholders or those
holding Fund shares through a tax-advantaged
account, such as a 401(k) Plan or IRA. This discussion is not intended as a
substitute for careful tax planning.
You should consult your tax adviser about your specific tax situation. Please
see the Statement of Additional Information
for additional income tax information.
We will
pass on to a Fund’s shareholders substantially all of the Fund’s net investment
income and realized net capital gains, if
any.
Distributions
of ordinary income attributable to all sources, if any, generally will be
taxable to you as ordinary income. Distributions
of net investment income from the 100% Treasury Money Market Fund generally will
be exempt in most jurisdictions
from state and local individual income taxes, but may not be exempt from state
and local corporate income
and/or franchise taxes.
Although
the Funds do not expect to realize any capital gain, distributions of a Fund’s
net short-term capital gain, if any, generally
will be taxable to you as ordinary income and distributions from a Fund’s net
long-term capital gain, if any, generally
will be taxable to you as long-term capital gain. Corporate shareholders should
not expect to deduct a portion of
their distributions when determining their taxable income. In general,
distributions also will not qualify for reductions
in federal income taxation of dividends payable to individuals from certain
domestic and foreign corporations.
To the
extent a distribution from a Fund is taxable, such distributions will be taxable
to you when paid, whether you take
distributions in cash or automatically reinvest them in additional Fund shares.
Following the end of each year, we will notify
you of the federal income tax status of your distributions for the
year.
Individual
taxpayers are subject to tax on ordinary income at a maximum rate of 37%
and the maximum tax rate on long-term
capital gains and qualified dividends is 20%. For U.S. individuals
with income exceeding $200,000 ($250,000 if married
and filing jointly), a 3.8% Medicare contribution tax applies on “net investment
income,” including interest, dividends,
and capital gains. Corporations are subject to tax on all income and gains at a
tax rate of 21%.
In certain
circumstances, Fund shareholders may be subject to back-up withholding
taxes.
As long as
a Fund continually maintains a $1.00 NAV, you ordinarily will not recognize a
taxable gain or loss on the redemption
or exchange of your Fund shares.
Government
Money Market Funds
|
|
29 |
Financial
Highlights
The
following tables are intended
to help you understand a Fund’s financial performance for the past five years
(or since inception,
if shorter). Certain information reflects financial results for a single Fund
share. Total returns represent the rate you
would have earned (or lost) on an investment in each Fund
(assuming reinvestment of all distributions). The information
in the following tables has
been derived from the Funds’
financial statements
which have been
audited by KPMG LLP,
the Funds’ independent registered public accounting firm, whose report, along
with each Fund’s
financial statements,
is also included in each Fund’s
annual report, a copy of which is available upon request.
Government
Money Market Fund
For a share
outstanding throughout each period
|
|
|
|
|
|
|
|
|
|
|
|
|
Year
ended January 31 |
Class
A |
|
2023 |
|
2022 |
|
2021 |
|
2020 |
|
2019 |
Net
asset value, beginning of period |
$ |
|
$ |
|
$ |
|
$ |
|
$ |
|
Net
investment income |
|
|
|
|
|
|
|
|
|
|
Net
realized gains (losses) on investments |
|
|
|
|
|
|
|
|
|
|
Total
from investment operations |
|
|
|
|
|
|
|
|
|
|
Distributions
to shareholders from |
|
|
|
|
|
|
|
|
|
|
Net
investment income |
|
|
|
|
|
|
|
|
|
|
Net
realized gains |
|
|
|
|
|
|
|
|
|
|
Total
distributions to shareholders |
|
|
|
|
|
|
|
|
|
|
Net
asset value, end of period |
$ |
|
$ |
|
$ |
|
$ |
|
$ |
|
Total
return |
|
|
|
|
|
|
|
|
|
|
Ratios
to average net assets (annualized) |
|
|
|
|
|
|
|
|
|
|
Gross
expenses |
|
|
|
|
|
|
|
|
|
|
Net
expenses |
|
|
|
|
|
|
|
|
|
|
Net
investment income |
|
|
|
|
|
|
|
|
|
|
Supplemental
data |
|
|
|
|
|
|
|
|
|
|
Net
assets, end of period (000s omitted) |
$ |
|
$ |
|
$ |
|
$ |
|
$ |
|
* |
Ratio
includes fund-level and/or class-level expenses which were voluntarily
waived by the investment manager. Without this voluntary waiver, the net
expense
ratio would be increased by the following amounts: Year
ended January 31,
2023 0.12% Year
ended January 31,
2022 0.53% Year
ended January 31,
2021 0.32% |
1 |
Amount
is less than $0.005. |
30 |
|
Government
Money Market Funds |
Treasury
Plus Money Market Fund
For a share
outstanding throughout each period
|
|
|
|
|
|
|
|
|
|
|
|
|
Year
ended January 31 |
Class
A |
|
2023 |
|
2022 |
|
2021 |
|
2020 |
|
2019 |
Net
asset value, beginning of period |
$ |
|
$ |
|
$ |
|
$ |
|
$ |
|
Net
investment income |
|
|
|
|
|
|
|
|
|
|
Net
realized gains (losses) on investments |
|
|
|
|
|
|
|
|
|
|
Total
from investment operations |
|
|
|
|
|
|
|
|
|
|
Distributions
to shareholders from |
|
|
|
|
|
|
|
|
|
|
Net
investment income |
|
|
|
|
|
|
|
|
|
|
Net
realized gains |
|
|
|
|
|
|
|
|
|
|
Total
distributions to shareholders |
|
|
|
|
|
|
|
|
|
|
Net
asset value, end of period |
$ |
|
$ |
|
$ |
|
$ |
|
$ |
|
Total
return |
|
|
|
|
|
|
|
|
|
|
Ratios
to average net assets (annualized) |
|
|
|
|
|
|
|
|
|
|
Gross
expenses |
|
|
|
|
|
|
|
|
|
|
Net
expenses |
|
|
|
|
|
|
|
|
|
|
Net
investment income |
|
|
|
|
|
|
|
|
|
|
Supplemental
data |
|
|
|
|
|
|
|
|
|
|
Net
assets, end of period (000s omitted) |
$ |
|
$ |
|
$ |
|
$ |
|
$ |
|
* |
Ratio
includes class-level expenses which were voluntarily waived by the
investment manager. Without this voluntary waiver, the net expense ratio
would be
increased by the following amounts: Year
ended January 31,
2023 0.10% Year
ended January 31,
2022 0.54% Year
ended January 31,
2021 0.35% |
1 |
Amount
is less than $0.005. |
100%
Treasury Money Market Fund
For a share
outstanding throughout each period
|
|
|
|
|
|
|
|
|
|
|
|
|
Year
ended January 31 |
Class
A |
|
2023 |
|
2022 |
|
2021 |
|
2020 |
|