A core global equity portfolio designed for consistent alpha

John Campbell: Global equities remain the cornerstone of long-term investment portfolios. The question is: how best to construct that exposure? At Allspring, we've spent three decades managing systematic equity strategies, combining quantitative breadth with experienced fundamental judgement. Building on the success of our global equity income and climate strategies, we're excited to introduce the Allspring Global Equity Fund. This strategy is designed to deliver consistent alpha and a risk-controlled core global equity portfolio.

Vince Fioramonti: Delivering consistent alpha is the foundation of active investing, and it's what our team has focused on since the 1990s. Our process begins with our proprietary quantitative alpha model that is grounded in fundamental principles. We use a systematic approach to cast a very wide net evaluating thousands of companies through different lenses to understand their relative attractiveness versus peers. Every stock is assessed daily across multiple dimensions, including valuation, quality, and momentum. But we don't rely on models alone. Every stock that enters the portfolio is fundamentally validated by the portfolio management team. This step allows us to confirm what the data is telling us and incorporate insights that are difficult to quantify. By combining disciplined quantitative breadth with experienced fundamental judgement, we aim to identify the winners, avoid the losers, and build portfolios designed to deliver alpha consistently across different market environments.

Justin Carr: Today's markets are complex, and risk can emerge from many angles. Relying on a single perspective simply isn't enough. That's why risk management is fully embedded in our investment process. We combine multiple quantitative risk models with deep, fundamental insights to build a complete picture of risk. We assess fundamental risks like common factor, style, and beta as well as macroeconomic risks such as interest rates, commodities, and currencies. This helps us to understand how broad economic shifts may impact the portfolio. We also focus on risks that are harder to quantify, such as new and emerging risks or idiosyncratic risks, including geopolitical developments, AI (artificial intelligence), or company-specific issues that may not yet be reflected in the data. By applying both top-down and bottom-up analysis, we seek to avoid unintended exposures, reduce surprises, and deliver a smoother and more consistent path of excess returns.

John Campbell: Across our strategies, one principle is consistent. We build true core equity exposures. That means carefully managing regional, sector, and stock-level exposures relative to the benchmark while targeting a beta of around one. The goal is to deliver the market exposure investors expect with alpha driven by stock selection rather than unintended risk. The portfolio is diversified across regions, sectors, and styles typically holding 80–100 stocks drawn from the global opportunity set. This allows us to capture opportunities across the style spectrum within a single, well-balanced portfolio. Designed as a core holding, this strategy can complement passive allocations or more style-specific active strategies, providing a disciplined and repeatable source of alpha.

Justin Carr: The launch of the Global Equity Fund completes our systematic global equity suite alongside our income and climate strategies.

Vince Fioramonti: It reflects decades of experience, a time-tested alpha model, and a disciplined approach to managing risk.

John Campbell: For investors seeking consistent alpha within a risk-controlled core global equity allocation, we believe this strategy offers a compelling solution.