Allspring Utilities and High Income Fund

Allspring Utilities and High Income Fund is a closed-end investment fund dedicated to delivering a high level of current income while also pursuing moderate capital growth, with a particular focus on offering tax-advantaged dividend income. The fund employs a dual-sleeve strategy: approximately 70% of its assets are allocated to common, preferred, and convertible preferred stocks of companies within the utility sector—these include firms involved in essential services such as electricity generation and distribution, natural gas, water supply, and related infrastructure. The remaining 30% of assets are primarily invested in U.S. dollar-denominated below-investment-grade (high yield) debt, adding a diversified income stream through exposure to the high-yield bond market. Allspring Utilities and High Income Fund is notable for its managed distribution plan that targets regular monthly distributions based on the fund’s average net asset value, aiming to provide consistent cash flow to shareholders. Its sector-focused approach and flexible structure make it a distinctive presence among closed-end funds concentrating on income generation and capital preservation within the utility and high-yield bond markets.