SUPPLEMENT TO THE PROSPECTUS AND SUMMARY PROSPECTUS
OF ALLSPRING MULTI-ASSET FUNDS
For the Allspring Diversified Capital Builder Fund
Allspring Diversified Income Builder Fund
Allspring Index Asset Allocation Fund
(each a “Fund”, and together the “Funds”)
Effective on or around July 1, 2026, the Fund’s Annual Fund Operating Expenses and Example of Expenses tables in the section entitled “Fund Summary - Fees and Expenses” are hereby amended with the following:
Diversified Capital Builder Fund
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)1 | ||
| A | C |
Management Fees | 0.60% | 0.60% |
Distribution (12b-1) Fees | 0.00% | 0.75% |
Other Expenses | 0.47% | 0.47% |
Total Annual Fund Operating Expenses | 1.07% | 1.82% |
Fee Waivers | 0.00% | 0.00% |
Total Annual Fund Operating Expenses After Fee Waivers2 | 1.07% | 1.82% |
| 1. | Expenses have been adjusted as necessary from amounts incurred during the Fund’s most recent fiscal year to reflect current fees and expenses. |
| 2. | The Manager has contractually committed through January 31, 2028, to waive fees and/or reimburse expenses to the extent necessary to cap Total Annual Fund Operating Expenses After Fee Waiver at 1.10% for Class A and at 1.85% for Class C. Brokerage commissions, stamp duty fees, interest, taxes, acquired fund fees and expenses (if any), and extraordinary expenses are excluded from the expense cap. Prior to or after the commitment expiration date, the cap may be increased or the commitment to maintain the cap may be terminated only with the approval of the Board of Trustees. |
ASSUMING YOU SOLD YOUR SHARES, YOU WOULD PAY: | AFTER 1 YEAR | AFTER 3 YEARS | AFTER 5 YEARS | AFTER 10 YEARS |
Class A | $678 | $896 | $1,131 | $1,806 |
Class C | $285 | $572 | $985 | $2,137 |
ASSUMING YOU HELD YOUR SHARES, YOU WOULD PAY: | AFTER 1 YEAR | AFTER 3 YEARS | AFTER 5 YEARS | AFTER 10 YEARS |
Class C | $185 | $572 | $985 | $2,137 |
Diversified Income Builder Fund
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)1 | ||
| A | C |
Management Fees | 0.55% | 0.55% |
Distribution (12b-1) Fees | 0.00% | 0.75% |
Other Expenses | 0.54% | 0.54% |
Acquired Fund Fees and Expenses | 0.01% | 0.01% |
Total Annual Fund Operating Expenses | 1.10% | 1.85% |
Fee Waivers | (0.26)% | (0.26)% |
Total Annual Fund Operating Expenses After Fee Waivers2 | 0.84% | 1.59% |
| 1. | Expenses have been adjusted as necessary from amounts incurred during the Fund’s most recent fiscal year to reflect current fees and expenses. |
| 2. | The Manager has contractually committed through January 31, 2028, to waive fees and/or reimburse expenses to the extent necessary to cap Total Annual Fund Operating Expenses After Fee Waiver at 0.83% for Class A and at 1.58% for Class C. Brokerage commissions, stamp duty fees, interest, taxes, acquired fund fees and expenses (if any), and extraordinary expenses are excluded from the expense cap. Prior to or after the commitment expiration date, the cap may be increased or the commitment to maintain the cap may be terminated only with the approval of the Board of Trustees. |
ASSUMING YOU SOLD YOUR SHARES, YOU WOULD PAY: | AFTER 1 YEAR | AFTER 3 YEARS | AFTER 5 YEARS | AFTER 10 YEARS |
Class A | $656 | $855 | $1,098 | $1,793 |
Class C | $262 | $530 | $951 | $2,125 |
ASSUMING YOU HELD YOUR SHARES, YOU WOULD PAY: | AFTER 1 YEAR | AFTER 3 YEARS | AFTER 5 YEARS | AFTER 10 YEARS |
Class C | $162 | $530 | $951 | $2,125 |
Index Asset Allocation Fund
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)1 | ||
| A | C |
Management Fees | 0.61% | 0.61% |
Distribution (12b-1) Fees | 0.00% | 0.75% |
Other Expenses | 0.46% | 0.46% |
Total Annual Fund Operating Expenses | 1.07% | 1.82% |
Fee Waivers | (0.01)% | (0.01)% |
Total Annual Fund Operating Expenses After Fee Waivers2 | 1.06% | 1.81% |
| 1. | Expenses have been adjusted as necessary from amounts incurred during the Fund’s most recent fiscal year to reflect current fees and expenses. |
| 2. | The Manager has contractually committed through January 31, 2028, to waive fees and/or reimburse expenses to the extent necessary to cap Total Annual Fund Operating Expenses After Fee Waiver at 1.06% for Class A and at 1.81% for Class C. Brokerage commissions, stamp duty fees, interest, taxes, acquired fund fees and expenses (if any), and extraordinary expenses are excluded from the expense cap. Prior to or after the commitment expiration date, the cap may be increased or the commitment to maintain the cap may be terminated only with the approval of the Board of Trustees. |
ASSUMING YOU SOLD YOUR SHARES, YOU WOULD PAY: | AFTER 1 YEAR | AFTER 3 YEARS | AFTER 5 YEARS | AFTER 10 YEARS |
Class A | $677 | $894 | $1,129 | $1,804 |
Class C | $284 | $571 | $983 | $2,136 |
ASSUMING YOU HELD YOUR SHARES, YOU WOULD PAY: | AFTER 1 YEAR | AFTER 3 YEARS | AFTER 5 YEARS | AFTER 10 YEARS |
Class C | $184 | $571 | $983 | $2,136 |
July 1, 2026 | PRO4324 07-26 |