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Business Summary: Allspring Utilities and High Income Fund (the Fund) is a closed-end management investment fund. The Fund seeks a high level of current income and moderate capital growth, with an emphasis on providing tax-advantaged dividend income. The Fund’s investment objective is a fundamental policy and may not be changed without the approval of a majority of the outstanding voting securities. The Fund allocates its assets between two separate investment strategies, or sleeves. Under normal market conditions, the Fund allocates approximately 70% of its total assets to an investment strategy that focuses on common, preferred and convertible preferred stocks of utility companies (equity sleeve). The Fund may invest this portion of assets in companies across all market capitalizations. The Fund’s invests sectors include Energy equipment & services, utilities, Wireless telecommunication services, Consumer discretionary and Automobiles. Allspring Funds Management, LLC is an advisor of the Fund.
Financial Summary: BRIEF: For the fiscal year ended 31 August 2010, Allspring Utilities and High Income Fund has not disclosed any comparable financial information.