Bennelong Funds Management has partnered with Allspring Global Investments to distribute its global income strategy across Australia and New Zealand.

Allspring is a leading asset manager with USD$600 billion of assets under management and advisement, managing over USD$460 billion in fixed income assets for a global client base.

John Burke, CEO of Bennelong, said the partnership will introduce an in-demand income solution to local investors.

“With over 390 investment professionals and 20 global offices, Allspring has scale and experience alongside a strong investment reputation especially in active fixed income. We’re looking forward to working with Allspring to deliver a core component of well diversified portfolios to our broad network of investors, advisers and institutions.”

Bennelong expects to launch the Allspring Global Income Fund as an Australian Unit Trust in June, offering daily liquidity, and broad access for local investors.

Andy Sowerby, head of the International Client Group at Allspring, said recent market volatility has highlighted the importance of dynamic allocation.

“Allspring’s global income strategy provides broad diversification by actively allocating across the global fixed income universe including the investment grade credit and high yield sectors. Our flexible, dynamic multi-sector approach is different from strategies with more static allocations and fewer exposures, and to strategies managed to three or five-year macroeconomic themes.

“Furthermore, the strategy has delivered resilience in periods of market stress, delivering competitive differentiated performance even throughout disparate and challenging market environments,” he added.