Allspring Global Investments has publicly declared its intention to finally join the competitive ETF space.
The global asset management firm, which has built a mutual fund enterprise overseeing $571 billion in assets, disclosed that it has submitted an initial registration statement to the SEC for six new actively managed ETFs.
Allspring said it expects to launch these ETFs early next year, pending regulatory approval.
The new ETFs will include three fixed income strategies and three equity strategies, drawing on the expertise of Allspring's established investment teams.
These strategies, which are already in use within the firm’s other investment vehicles, are backed by what the company describes as strong track records and extensive experience in both stock and bond markets.
"We are excited to launch our ETF platform in our continued evolution of Allspring as an independent company," Allspring President Kate Burke said in a statement.
She emphasized that the new ETFs are part of the firm's broader mission "to elevate investing to be worth more" by offering access to active investment strategies in formats that align with investor needs.
The forthcoming ETFs will complement Allspring's existing range of investment products, further expanding the firm's offerings as it continues to operate independently.
The first indications of Allspring’s interest in joining the active ETF fray came in June when it filed a request with the SEC for exemptive relief to offer dual-share mutual fund/ETF asset classes.
The firm’s first venture into the ETF space is being led by Rick Genoni, a veteran of the sector who joined Allspring in 2022.
The active ETF sector is tracing a years-long arc of growth, according to a May report by Morningstar, which said the number of active ETFs on the market has tripled since 2019, when the SEC greatly simplified the product registration process with its ETF rule.
Assets in active ETFs have skyrocketed from $75 billion in 2018 to a whopping $530 billion by the end of 2023, that report said, with much of the growth accreting into the hands of just a few ETF providers including Dimensional Fund Advisors, JPMorgan, and American Century.
A drop in interest rates and easier access to capital has reignited appetite among private equity-backed consolidators, who accounted for 53% of RIA deals so far this year- their highest share since 2021 according to Devoe & Company.
Also, Advisor CRM announces a new data integration partnership to ease the pain of client onboarding.
Meanwhile, Merrill Lynch intends to continue building its alternative investment platform for wealthy clients.
The co-founder of IFG discussed with InvestmentNews the unique opportunity that remaining independent offers to build a successful firm.
Three industry leaders will join the hybrid RIA's president and LPL alum, Andy Kalbaugh, to help guide its organic and merger-based growth strategy.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
