Emerging Markets Equity Advantage Fund Z GBP Acc

The fund seeks long-term capital appreciation and current income by investing, under normal market conditions, at least 80% of its total assets in dividend-paying emerging market equity securities across any market capitalisations. Equity exposure is achieved directly through investment in equity securities and/or indirectly through participatory notes, convertible securities, equity linked notes and/or certificates. The fund may also invest in equity securities through ADRs, CDRs, EDRs, GDRs, IDRs and similar depositary receipts as well as equities denominated in U.S. dollars issued by non-U.S. issuers.The fund promotes environmental and social characteristics but does not have a sustainable investment objective. Emerging market equity securities are securities issued by companies that are traded in, have their primary operations in, are domiciled in or derive a majority of their revenue from emerging market countries as defined by the MSCI Emerging Markets Index. The fund may invest up to an aggregate of 20% of its total assets both directly and indirectly in equity securities of Chinese companies listed on the Shanghai Stock Exchange or Shenzhen Stock Exchange (commonly known as China A shares). Equity securities of Chinese companies are securities issued by companies with their registered offices in the People’s Republic of China or exercising a predominant part of their economic activities in the People’s Republic of China. The fund may use futures, forward contracts, options or swap agreements, as well as other derivatives, for hedging or efficient portfolio management purposes. The fund may hedge the portfolio’s foreign currency exposure by purchasing or selling currency futures and foreign currency forward contracts. However, under normal circumstances, the fund will not engage in extensive foreign currency hedging. The fund’s investment strategy includes both a top-down strategy, which takes account of overall economic and market trends in each country, and a bottom-up strategy, in which the fund uses fundamental research for security selection.The fund seeks to manage towards a low carbon portfolio and targets an overall carbon intensity that is at least 30% lower than that of the MSCI Emerging Markets Index. The fund will invest only in companies where the potential return is determined to be in excess of its estimation of equity value at risk from material environmental, social and governance factors. Through the use of a negative screening process, the fund seeks to exclude certain securities in accordance with its exclusion policy. A copy of the methodology and list of excluded investments (including the revenue thresholds) is available under allspringglobal.com. Shareholders may also request a copy from the fund or the Management Company. This share class does not distribute dividends. Income is reinvested in the fund. You may sell your shares on each business day when banks in Luxembourg are open for normal business and the New York Stock Exchange is open for trading (a “Business Day”). The fund is actively managed but uses the MSCI Emerging Markets Index as a reference for selecting investments and for performance comparison. The investments of the fund may deviate significantly from the components of and their respective weightings in the benchmark.