Allspring News & Analysis
2 articles
Market Mood
Allspring Global Investments Potential Sale Valued at $4 Billion
Allspring Global Investments is being prepared for a potential sale valued at approximately $4 billion, according to reports. The firm was previously acquired in 2021 for $2.1 billion by GTCR and Reverence Capital. Current discussions are in the early stages, with no definitive decisions made yet. Allspring manages $642 billion in assets and employs over 360 professionals, making it a significant player in the wealth management sector. This potential sale is noteworthy as the sector has seen several high-profile transactions this year.
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U.S. Fed Hikes Likely in December; ECB Rates Up to 2.25%
George Bory of Allspring Global Investments advises clients to focus on bond markets outside the U.S., noting that central banks in regions like the UK and Europe are raising rates. The European Central Bank (ECB) recently increased rates by 25 basis points to 2.25%, its first hike since September 2023. As of late Friday, the CME Group's FedWatch predicts a 78% likelihood that the Federal Reserve will increase rates in December 2023. Bory suggests that diversifying bond investments internationally can yield better portfolio outcomes, especially as U.S. tightening appears less aggressive compared to international measures.
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