Allspring Opportunity

Objective And Strategy

Objective
Long-term capital appreciation.

Strategy
The Fund invests principally in equity securities of medium-capitalization companies, which it defines as those within the range of market capitalizations of companies in the Russell Midcap® Index. The range of the Russell Midcap® Index was $12.2 billion to $829 million respectively, as of May 30, 2009, and is expected to change frequently. Furthermore, the Fund may use futures, options or swap agreements, as well as other derivatives, to manage risk or to enhance return. The Fund reserves the right to 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.

Principal Risks

* This portfolio invests (or may invest) in securities of companies with micro-, small-, or mid-capitalization. Any investment in micro-, small-, or mid-capitalization companies involves greater risk than that customarily associated with investments in larger, more established companies because of the greater business risks of smaller size, limited markets and financial resources, narrower product lines, and frequent lack of management depth. As such, micro- or small-cap companies may be more subject to erratic and abrupt market movements than securities of larger, more established companies.