Allspring Global Investments has launched its first actively managed equity exchange-traded funds, said a March 27 news release.
The Allspring Long-Term Large Growth ETF and Allspring Special Large Value ETF began trading on March 27 on the NYSE Arca exchange under the respective ticker symbols of AGRW and ASLV.
AGRW is a large-cap growth U.S. equity strategy and is managed by Neville Javeri, Jake Seltz, and Paul Roach. ASLV follows a value investing strategy and is managed is by Bryant Van Cronkhite and James Tringas.
Both ETFs charge a 0.35% expense ratio.
A spokesperson for Allspring said that the AGRW strategy has previously only been available in separate accounts, while ASLV is the ETF version of the Allspring Special Large Cap Value Fund, which has about $1.4 billion in assets
“These strategies have operated across market cycles, but we’re particularly enthusiastic about offering them as an ETF in the current environment,” said Rick Genoni, global head of product development and innovation and leader of Allspring's ETF initiative in the release.
“After a long period when the stock market was dominated by a handful of large tech companies, we see financial advisers and their clients growing increasingly interested in efficiently diversifying their equity market exposure through active portfolio management.”
Allspring initially entered the ETF marketplace last December by launching three actively managed fixed income ETFs: Allspring Broad Market Core Bond ETF, Allspring Core Plus ETF and Allspring Income Plus ETF.
These three ETFs, which trade under the respective ticker symbols AFIX, APLU and AINP, now have about $585 million in assets in the aggregate. Allspring has more than $605 billion in assets under advisement.
