# EDGAR Filing Document

**Accession Number:** 0001081400
**File Stem:** 0001081400-25-000299
**Filing Date:** 2025-7
**Character Count:** 24039
**Document Hash:** ff9ec8924f21d496054c78790c164a37
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001081400-25-000299.hdr.sgml**: 20250725

**ACCESSION NUMBER**: 0001081400-25-000299

**CONFORMED SUBMISSION TYPE**: 497K

**PUBLIC DOCUMENT COUNT**: 4

**FILED AS OF DATE**: 20250725

**DATE AS OF CHANGE**: 20250725

**EFFECTIVENESS DATE**: 20250725

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ALLSPRING FUNDS TRUST
- **CENTRAL INDEX KEY:** 0001081400

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** 497K
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-74295
- **FILM NUMBER:** 251148855

**BUSINESS ADDRESS:**
- **STREET 1:** 1415 VANTAGE PARK DRIVE
- **STREET 2:** 3RD FLOOR
- **CITY:** CHARLOTTE
- **STATE:** NC
- **ZIP:** 28203
- **BUSINESS PHONE:** 833-568-4225

**MAIL ADDRESS:**
- **STREET 1:** 1415 VANTAGE PARK DRIVE
- **STREET 2:** 3RD FLOOR
- **CITY:** CHARLOTTE
- **STATE:** NC
- **ZIP:** 28203

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** WELLS FARGO FUNDS TRUST
- **DATE OF NAME CHANGE:** 19990308

## Series and Classes Contracts Data

### Allspring Precious Metals Fund (Series ID: S000029099)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000089457 | Class A             | EKWAX           |
| C000089459 | Class C             | EKWCX           |
| C000089460 | Institutional Class | EKWYX           |
| C000092800 | Administrator Class | EKWDX           |

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| | |
|:---|:---|
| .![](su12140img001.jpg)  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Summary Prospectus<br>August 1, 2025 |

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Allspring Precious Metals Fund<br>

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Class A - EKWAX; Class C - EKWCX; Administrator Class - EKWDX; Institutional Class - EKWYK

*Effective on or about the close of business on September 12, 2025, all Administrator Class shares of the Fund will automatically convert to Institutional Class shares of the Fund.*

*Before you invest, you may want to review the Fund's prospectus, which contains more information about the Fund and its risks. You can find the Fund's prospectus, reports to shareholders and other information about the Fund online at allspringglobal.com/reports. You can also get information at no cost by calling 1-800-222-8222, or by sending an email request to AllspringFundsShareholders@allspringglobal.com. The current prospectus ("Prospectus") and statement of additional information ("SAI"), dated August 1, 2025, as supplemented from time to time, are incorporated by reference into this summary prospectus. The Fund's SAI may be obtained, free of charge, in the same manner as the Prospectus.*

**Investment Objective**

The Fund seeks long-term capital appreciation.

**Fees and Expenses**

These tables are intended to help you understand the various costs and expenses you will pay if you buy, hold and sell shares of the Fund. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in the aggregate in specified classes of certain Allspring Funds. More information about these and other discounts is available from your financial professional and in "Share Class Features" and "Reductions and Waivers of Sales Charges" on pages 33 and 34 of the Prospectus and "Additional Purchase and Redemption Information" on page 75 of the Statement of Additional Information. Investors who purchase through certain intermediaries may be subject to different sales charge discounts than those outlined shares in these sections. Please see Appendix A on page 53 for further information.

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| | | | | |
|:---|:---|:---|:---|:---|
| **Shareholder Fees (fees paid directly from your investment)** | **Shareholder Fees (fees paid directly from your investment)** | **Shareholder Fees (fees paid directly from your investment)** | **Shareholder Fees (fees paid directly from your investment)** | **Shareholder Fees (fees paid directly from your investment)** |
|  | **A** | **C** | **Administrator** | **Institutional** |
| &nbsp;&nbsp; Maximum sales charge (load) imposed on purchases (as a percentage of offering price) | 5.75% |  |  |  |
| &nbsp;&nbsp; Maximum deferred sales charge (load) (as a percentage of offering price) | None<sup>1</sup> | 1.00% |  |  |

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1. Investments of $1 million or more are not subject to a front-end sales charge but generally will be subject to a deferred sales charge of 1.00% if redeemed within 18 months from the date of purchase.

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| | | | | |
|:---|:---|:---|:---|:---|
| **Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)<sup>1</sup>** | **Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)<sup>1</sup>** | **Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)<sup>1</sup>** | **Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)<sup>1</sup>** | **Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)<sup>1</sup>** |
|  | **A** | **C** | **Administrator** | **Institutional** |
| &nbsp;&nbsp; Management Fees | 0.65% | 0.65% | 0.65% | 0.65% |
| &nbsp;&nbsp; Distribution (12b-1) Fees | 0.00% | 0.75% | 0.00% | 0.00% |
| &nbsp;&nbsp; Other Expenses | 0.52% | 0.52% | 0.45% | 0.20% |
| &nbsp;&nbsp; **Total Annual Fund Operating Expenses** | **1.17%** | **1.92%** | **1.10%** | **0.85%** |
| &nbsp;&nbsp; Fee Waivers | (0.08)% | (0.08)% | (0.15)% | (0.06)% |
| &nbsp;&nbsp; **Total Annual Fund Operating Expenses After Fee Waivers<sup>2</sup>** | **1.09%** | **1.84%** | **0.95%** | **0.79%** |

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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 July 31, 2026, to waive fees and/or reimburse expenses to the extent necessary to cap Total Annual Fund Operating Expenses After Fee Waiver at 1.09% for Class A, 1.84% for Class C, 0.95% for Administrator

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class and 0.79% for Institutional Class. 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.

**Example of Expenses**

The example below is intended to help you compare the costs of investing in the Fund with the costs of investing in other funds. The example assumes a $10,000 initial investment, 5% annual total return, and that fees and expenses remain the same as in the tables above. To the extent that the Manager is waiving fees or reimbursing expenses, the example assumes that such waiver or reimbursement will only be in place through the date noted above. Although your actual costs may be higher or lower, based on these assumptions, your costs would be:

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| | | | | |
|:---|:---|:---|:---|:---|
| **Allspring Precious Metals Fund** | **Allspring Precious Metals Fund** | **Allspring Precious Metals Fund** | **Allspring Precious Metals Fund** | **Allspring Precious Metals Fund** |
| &nbsp;&nbsp; **Assuming you sold your shares, you would pay:** | **After 1 Year** | **After 3 Years** | **After 5 Years** | **After 10 Years** |
| &nbsp;&nbsp; Class A | $680 | $918 | $1174 | $1907 |
| &nbsp;&nbsp; Class C | $287 | $595 | $1029 | $2237 |
| &nbsp;&nbsp; Administrator Class | $97 | $335 | $592 | $1327 |
| &nbsp;&nbsp; Institutional Class | $81 | $265 | $465 | $1043 |
| &nbsp;&nbsp; **Assuming you held your shares, you would pay:** | **After 1 Year** | **After 3 Years** | **After 5 Years** | **After 10 Years** |
| &nbsp;&nbsp; Class C | $187 | $595 | $1029 | $2237 |

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**Portfolio Turnover**

The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 14% of the average value of its portfolio.

**Principal Investment Strategies**

Under normal circumstances, we invest:

■ at least 80% of the Fund's net assets in investments related to precious metals;

■ any amount of the Fund's total assets in equity securities of foreign issuers, including ADRs and similar investments;

■ up to 40% of the Fund's total assets in emerging market equity securities; and

■ up to 25% of the Fund's total assets, at the time of purchase, in debt securities linked to precious metals and common or preferred stocks of subsidiaries of the Fund that invest directly or indirectly in precious metals and minerals.

The Fund may invest in foreign securities, including ADRs and similar investments, which are typically denominated in non-U.S. currencies, and may also invest in U.S. securities. While we may invest in precious metals companies domiciled in any jurisdiction in the world, the Fund may concentrate its investments in a limited number of countries.

We invest principally in investments related to precious metals across all market capitalizations. These investments include equity securities of a wholly owned subsidiary of the Fund set up in the Cayman Islands that may invest directly in precious metals or minerals. We define precious metals companies as those that are engaged in, or which receive at least 50% of their revenues from the exploration, development, mining, processing, or dealing in gold or other precious metals and minerals, including, but not limited to, silver, platinum, and diamonds. We concentrate the Fund's investments in the precious metals sector, and because we retain the flexibility to invest in a relatively small number of stocks, the Fund is also considered to be non-diversified.

Primary emphasis is placed on precious metals related companies. The Fund's investment process takes a disciplined approach to risk management through top-down macroeconomic analysis and bottom-up stock selection. Among the macroeconomic influences considered include: geopolitical risks, the relative strength of the U.S. dollar, jewelry demand, inflation expectations, the seasonality of gold, investment demand and relative valuation levels for the precious metals universe. From a bottom-up perspective, management looks for higher quality precious metals companies that are positioned to improve their relative value over time. We continually review the investments of the portfolio. Among the factors which may influence the reduction of a position are: the achievement of a valuation target, the deterioration in the underlying fundamentals of the business, or the identification of more attractive investment opportunity.

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**Principal Investment Risks**

An investment in the Fund may lose money, is not a deposit of a bank or its affiliates, is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency, and is primarily subject to the risks briefly summarized below.

**Market Risk.** The values of, and/or the income generated by, securities held by the Fund may decline due to general market conditions or other factors, including those directly involving the issuers of such securities. Securities markets are volatile and may decline significantly in response to adverse issuer, regulatory, political, or economic developments. Different sectors of the market and different security types may react differently to such developments.

**Equity Securities Risk.** The values of equity securities may experience periods of substantial price volatility and may decline significantly over short time periods. In general, the values of equity securities are more volatile than those of debt securities. Equity securities fluctuate in value and price in response to factors specific to the issuer of the security, such as management performance, financial condition, and market demand for the issuer's products or services, as well as factors unrelated to the fundamental condition of the issuer, including general market, economic and political conditions. Different parts of a market, industry and sector may react differently to adverse issuer, market, regulatory, political, and economic developments.

**Precious Metals Sector Risk.** A Fund that concentrates its investments in the precious metals sector is more vulnerable to adverse market, economic, regulatory, political or other developments affecting the precious metals sector than a fund that invests its assets more broadly. Specifically, such investments are subject to fluctuation in the prices of gold and other precious metals due to monetary and political developments and resource availability and demand.

**Foreign Investment Risk.** Foreign investments may be subject to lower liquidity, greater price volatility and risks related to adverse political, regulatory, market or economic developments. Foreign investments may involve exposure to changes in foreign currency exchange rates and may be subject to higher withholding and other taxes.

**Non-Diversification Risk.** A Fund that is considered "non-diversified" under the Investment Company Act of 1940, as amended, is more vulnerable to market or economic events impacting issuers of individual portfolio securities than a "diversified" fund. Default by the issuer of an individual security in such a Fund's portfolio may have a greater negative effect on the Fund's return or net asset value than it would on the return or net asset value of a "diversified" fund.

**Debt Securities Risk.** Debt securities are subject to credit risk and interest rate risk. Credit risk is the possibility that the issuer or guarantor of a debt security may be unable, or perceived to be unable or unwilling, to pay interest or repay principal when they become due. In these instances, the value of an investment could decline and the Fund could lose money. Credit risk increases as an issuer's credit quality or financial strength declines. Interest rate risk is the possibility that interest rates will change over time. When interest rates rise, the value of debt securities tends to fall. The longer the terms of the debt securities held by a Fund, the more the Fund is subject to this risk. If interest rates decline, interest that the Fund is able to earn on its investments in debt securities may also decline, which could cause the Fund to reduce the dividends it pays to shareholders, but the value of those securities may increase. Very low or negative interest rates may magnify interest rate risk.

**Emerging Markets Risk.** Emerging market securities typically present even greater exposure to the risks described under "Foreign Investment Risk" and may be particularly sensitive to global economic conditions. Emerging market securities are also typically less liquid than securities of developed countries and could be difficult to sell, particularly during a market downturn.

**Geographic Emphasis Risk.** A Fund that invests a significant portion of its assets in one country or geographic region will be more vulnerable than a fund that invests its assets more broadly to the economic, financial, political or other developments affecting that country or region. Such developments may have a significant impact on the Fund's investment performance causing such performance to be more volatile than the investment performance of a more geographically diversified fund.

**Growth/Value Investing Risk.** Securities that exhibit growth or value characteristics tend to perform differently and shift into and out of favor with investors depending on changes in market and economic sentiment and conditions.

**Management Risk.** Investment decisions, techniques, analyses or models implemented by a Fund's manager or sub-adviser in seeking to achieve the Fund's investment objective may not produce expected returns, may cause the Fund's shares to lose value or may cause the Fund to underperform other funds with similar investment objectives.

**Smaller Company Securities Risk.** Securities of companies with smaller market capitalizations tend to be more volatile and less liquid than those of larger companies.

**Subsidiary Risk.** The value of a Fund's investment in its Cayman Islands subsidiary may be adversely impacted by the risks associated with the delivery, storage, maintenance and possible illiquidity of the precious metals or minerals in which the subsidiary invests, as well as by custody and transaction costs associated with the subsidiary's investments. In addition, changes in the laws or regulations of the United States or the Cayman Islands, under which the Fund and the subsidiary, respectively, are organized, could result in the inability of the Fund or the subsidiary to continue to operate as described in the prospectus and could negatively affect the Fund and its shareholders.

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**Performance**

The following information provides some indication of the risks of investing in the Fund by showing changes in the Fund's performance from year to year. The Fund's average annual total returns are compared to the performance of one or more indices. Past performance before and after taxes is no guarantee of future results. Current month-end performance is available on the Fund's website at www.allspringglobal.com.

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| | | |
|:---|:---|:---|
| **Calendar Year Total Returns for Class A as of 12/31 each year**<br>**(Returns do not reflect sales charges and would be lower if they did)**  | **Calendar Year Total Returns for Class A as of 12/31 each year**<br>**(Returns do not reflect sales charges and would be lower if they did)**  | **Calendar Year Total Returns for Class A as of 12/31 each year**<br>**(Returns do not reflect sales charges and would be lower if they did)**  |
| .![](su12140img003.jpg)  | &nbsp;&nbsp;&nbsp; **Highest Quarter:** <br>June 30, 2020 | +56.91% |
| .![](su12140img003.jpg)  | &nbsp;&nbsp;&nbsp; **Lowest Quarter:** <br>June 30, 2022 | -26.20% |
| .![](su12140img003.jpg)  | &nbsp;&nbsp;&nbsp; Year-to-date total return as of June 30, 2025 is +59.37% |  |

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| | | | | |
|:---|:---|:---|:---|:---|
| **Average Annual Total Returns for the periods ended 12/31/2024 (returns reflect applicable sales charges)** | **Average Annual Total Returns for the periods ended 12/31/2024 (returns reflect applicable sales charges)** | **Average Annual Total Returns for the periods ended 12/31/2024 (returns reflect applicable sales charges)** | **Average Annual Total Returns for the periods ended 12/31/2024 (returns reflect applicable sales charges)** | **Average Annual Total Returns for the periods ended 12/31/2024 (returns reflect applicable sales charges)** |
|  | **Inception Date of Share Class** | **1 Year** | **5 Year** | **10 Year** |
| &nbsp;&nbsp; Class A (before taxes) | 1/20/1998 | 14.29% | 4.90% | 6.46% |
| &nbsp;&nbsp; Class A (after taxes on distributions) | 1/20/1998 | 14.23% | 4.72% | 6.32% |
| &nbsp;&nbsp; Class A (after taxes on distributions and the sale of Fund Shares) | 1/20/1998 | 8.79% | 3.88% | 5.24% |
| &nbsp;&nbsp; Class C (before taxes) | 1/29/1998 | 19.35% | 5.35% | 6.45% |
| &nbsp;&nbsp; Administrator Class (before taxes) | 7/30/2010 | 21.44% | 6.30% | 7.24% |
| &nbsp;&nbsp; Institutional Class (before taxes) | 2/29/2000 | 21.64% | 6.47% | 7.41% |
| &nbsp;&nbsp; FTSE Gold Mines Index (reflects no deduction for fees, expenses, or taxes) |  | 8.97% | 3.64% | 8.02% |
| &nbsp;&nbsp; S&P 500 Index (reflects no deduction for fees, expenses, or taxes) |  | 25.02% | 14.53% | 13.10% |

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After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state, local or foreign taxes. Actual after-tax returns depend on an investor's tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) Plans or Individual Retirement Accounts. After-tax returns are shown for only one class of shares. After-tax returns for any other class will vary.

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**Fund Management**

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| | | |
|:---|:---|:---|
| &nbsp;&nbsp; **Manager** | &nbsp;&nbsp; **Sub-Adviser** | &nbsp;&nbsp; **Portfolio Manager, Title/Managed Since** |
| &nbsp;&nbsp; Allspring Funds Management, LLC | &nbsp;&nbsp; Allspring Global Investments, LLC | &nbsp;&nbsp; **Michael Bradshaw, CFA**, Portfolio Manager/2007<br>**Oleg Makhorine**, Portfolio Manager/2012 |

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**Purchase and Sale of Fund Shares**

In general, you can buy or sell shares of the Fund online or by mail, phone or wire on any day the New York Stock Exchange is open for regular trading. You also may buy and sell shares through a financial professional, or if applicable, your retirement plan sponsor.

Eligibility requirements may vary by class; please see "Share Class Eligibility" in the Prospectus for more information.

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| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp; **Minimum Investments** | &nbsp;&nbsp; **Additional Investments** |
| &nbsp;&nbsp; <u>Class A and Class C</u> | &nbsp;&nbsp; Regular Accounts: $1,000<br>IRAs, IRA Rollovers, Roth IRAs: $250<br>UGMA/UTMA Accounts: $50<br>Employer Sponsored Retirement Plans: No Minimum | &nbsp;&nbsp; Regular Accounts, IRAs, IRA Rollovers, Roth IRAs: $100<br>UGMA/UTMA Accounts: $50<br>Employer Sponsored Retirement Plans: No Minimum |
| &nbsp;&nbsp; <u>Administrator Class and Institutional Class</u> | &nbsp;&nbsp; $1 million (this amount may be reduced or eliminated for certain eligible investors) |  |
| &nbsp;&nbsp; <u>**To Buy or Sell Shares**</u> |  |  |
| &nbsp;&nbsp; Class A, Class C, Administrator Class and Institutional Class | &nbsp;&nbsp; **Mail:** Allspring Funds<br>P.O. Box 219967<br>Kansas City, MO 64121-9967<br>**Online:** www.allspringglobal.com<br>**Phone or Wire:** 1-800-222-8222 | &nbsp;&nbsp; **Mail:** Allspring Funds<br>P.O. Box 219967<br>Kansas City, MO 64121-9967<br>**Online:** www.allspringglobal.com<br>**Phone or Wire:** 1-800-222-8222 |

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**Tax Information**

Any distributions you receive from the Fund may be taxable as ordinary income or capital gains, except when your investment is in an IRA, 401(k) or other tax-advantaged investment plan. However, subsequent withdrawals from such a tax-advantaged investment plan may be subject to federal income tax. You should consult your tax adviser about your specific tax situation.

**Payments to Intermediaries**

If you purchase a Fund through an intermediary, the Fund and its related companies may pay the intermediary for the sale of Fund shares and related services. These payments may create a conflict of interest by influencing the intermediary and your financial professional to recommend the Fund over another investment. Consult your financial professional or visit your intermediary's website for more information.

<u>*Link to Prospectus*</u> <u>*Link to SAI*</u>

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| .![](su12140img002.jpg) |©2025 Allspring Global Investments Holdings, LLC. All rights reserved.<br>SUM0654 08-25 |

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