Allspring Government Money Market Fund’s Tribal Inclusion Class
will be distributed exclusively through Wells Fargo
Wells Fargo & Company (NYSE: WFC) today announced it is
working with Allspring Global Investments, a global asset
management firm, to launch a Tribal Inclusion share class for the
Allspring Government Money Market Fund, which will be offered
exclusively to Wells Fargo corporate clients. The Tribal Inclusion
share class is the first money market product with a charitable
donation feature focused on benefiting tribal communities in the
United States.
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Wells Fargo (Photo: Wells Fargo)
“As a long-term supporter of Native American and Alaska Native
communities, we are delighted to partner with Allspring on the
launch of their first money market fund share class focused on
benefiting tribal communities,” said Randall Lacayo, head of
Diverse Segments, Capital Markets, Wells Fargo Corporate &
Investment Bank. “We have supported Native Forward Scholars Fund
over the past decade, and we are pleased to offer this new fund
exclusively to Wells Fargo clients to further promote their
diversity, equity, and inclusion initiatives serving tribal
communities.”
In addition to its ongoing support of Native Forward’s mission,
Wells Fargo will make a donation in celebration of the launch of
the fund to Native Forward Scholars Fund, an organization focused
on empowering students from more than 500 tribes across the U.S. by
providing scholarships for higher education. Allspring will donate
a percentage of the net management fee revenue earned on Tribal
Inclusion share class assets.
“The Native American community is historically and culturally
rich but underrepresented and often overlooked. For Allspring, this
collaboration is an incredible opportunity to educate ourselves on
the specific needs of tribal communities especially pertaining to
Native Forward’s objective to provide access to quality education
for Native scholars via direct scholarships. Allspring's mission is
to elevate investing to be worth more and part of our purpose is to
contribute to organizations such as Native Forward to achieve
better outcomes,” said Sonya Rorie, Allspring’s deputy chief
diversity officer.
“For the past five plus decades, Native Forward has remained
steadfast in meeting the unmet needs of every Native scholar who
wishes to pursue higher education. When you are investing in the
Tribal Inclusion share class, you are doing more than just
investing, you are impacting the economic mobility of Native people
in this country. That type of social impact extends beyond
individuals and creates opportunities for a more just and diverse
workforce,” said Angelique Albert, Native Forward CEO.
Wells Fargo is pleased to share that Paramount Global and
several Native American tribal governments will be among the
inaugural investors in the Tribal Inclusion share class, supporting
today’s launch.
“This new tribal inclusion share class is a great way to help
raise awareness of the needs of Native American communities, which
are often overlooked by corporate America,” said Dawson Her Many
Horses, head of Native American Banking at Wells Fargo.
Wells Fargo has been a proud supporter of Native American and
Alaska Native communities for more than 65 years and continues to
be the leading provider of capital and financial services to tribes
and tribal-owned enterprises. Wells Fargo has banking relationships
with 1 out of 3 federally recognized tribes in the U.S. We have
committed $3.4 billion in credit and hold $4.1 billion in deposits
for tribal governments and tribally owned enterprises nationally,
banking with more than 300 Native American and Alaska Native tribal
entities in 25 states.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a leading financial
services company that has approximately $1.9 trillion in assets,
proudly serves one in three U.S. households and more than 10% of
small businesses in the U.S., and is a leading middle market
banking provider in the U.S. We provide a diversified set of
banking, investment, and mortgage products and services, as well as
consumer and commercial finance, through our four reportable
operating segments: Consumer Banking and Lending, Commercial
Banking, Corporate and Investment Banking, and Wealth &
Investment Management. Wells Fargo ranked No. 47 on Fortune’s 2023
rankings of America’s largest corporations. In the communities we
serve, the company focuses its social impact on building a
sustainable, inclusive future for all by supporting housing
affordability, small business growth, financial health, and a
low-carbon economy.
News, insights, and perspectives from Wells Fargo are also
available at Wells Fargo Stories.
Additional information may be found at www.wellsfargo.com
About Allspring
Allspring Global Investments™ is an independent asset management
firm with more than $551 billion in assets under advisement*, over
20 offices globally, and investment teams supported by more than
450 investment professionals. Allspring is committed to thoughtful
investing, purposeful planning, and inspiring a new era of
investing that pursues both financial returns and positive
outcomes. For more information, please visit
www.allspringglobal.com.
*As of September 30, 2023. Figures include discretionary and
non-discretionary assets.
About Native Forward
Native Forward Scholars Fund has delivered more funding in
direct scholarship dollars to Native students in the U.S. than any
other scholarship provider. The national nonprofit is committed to
ensuring that every Native student who wants to pursue higher
education has the resources to do so. Providing over $400 million
in direct scholarships during its 53-year history, Native Forward
has empowered over 22,000 scholars from more than 500 tribes in all
50 states and contributed to over 1,700 law degrees and more than
2,200 Ph.D. degrees. Through scholarship funding and holistic
support, Native Forward has increased the graduation rates of
undergraduate students to 69%, compared to the national average of
41% for Native students, and has boosted the rate for graduate
students to 95%. The organization's alumni are among the most
influential Native leaders in the U.S., including Secretary of the
Interior Deb Haaland, Pulitzer Prize finalist Tommy Orange, and Dr.
Cynthia Chavez Lamar, Director of the Smithsonian's National Museum
of the American Indian. For more information, please visit
Nativeforward.org.
Government money market funds: 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 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.
Carefully consider a fund’s investment objectives, risks,
charges, and expenses before investing. For a current prospectus
and, if available, a summary prospectus, containing this and other
information, visit allspringglobal.com. Read it carefully before
investing.
Allspring Global Investments™ is the trade name for the asset
management firms of Allspring Global Investments Holdings, LLC, a
holding company indirectly owned by certain private funds of GTCR
LLC and Reverence Capital Partners, L.P. These firms include but
are not limited to Allspring Global Investments, LLC, and Allspring
Funds Management, LLC. Certain products managed by Allspring
entities are distributed by Allspring Funds Distributor, LLC (a
broker-dealer and Member FINRA/SIPC).
This material is for general informational and educational
purposes only and is NOT intended to provide investment advice or a
recommendation of any kind — including a recommendation for any
specific investment, strategy, or plan.
FOR INSTITUTIONAL INVESTOR USE ONLY – NOT FOR USE WITH THE
RETAIL PUBLIC
Wells Fargo has less than 10% equity interest in Allspring
Global Investments ("Allspring"), the trade name used by the asset
management businesses of Allspring Global Investments Holdings,
LLC. Wells Fargo has no role in the management of Allspring. Wells
Fargo's equity ownership in Allspring will provide us with a
financial incentive to continue to recommend to our clients
products that are managed and distributed by Allspring's advisors
and distributors, including mutual funds, sweep vehicles, and
separately managed account programs. Although Allspring will not be
a related person of Wells Fargo, Wells Fargo and its related
persons will continue to benefit from the sales of Allspring
products to a greater extent than the sale of other third-party
products in which we do not have a similar financial interest.
*You are leaving Allspring Global Investments and entering a
website that Allspring does not control. Allspring has provided
this link for your convenience but does not endorse and is not
responsible for the content, links, privacy policy, or security
policy of this website.
ALL-10302023-wftzz1ha
News Release Category: WF-PS
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Wells Fargo Hannah Sloane, (347) 802-5942
hannah.sloane@wellsfargo.com
Allison Chin-Leong, (646) 457-8266
allison.chin-leong@wellsfargo.com
Allspring Melissa Murphy, (804) 396-6440
melissa.murphy@allspringglobal.com
Native Forward Sara LaBarge, (505) 881-4584
sara@nativeforward.org
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