What is Allspring Multi-Sectorome Fund Probability of Financial Distress (%)?
Probability of Financial Distress (%) measures the probability that a company will go bankrupt in the upcoming year given its current financial position. A higher ratio indicates a larger probability of bankruptcy for the company, while a lower ratio indicates a healthier fundamental. As of today, Allspring Multi-Sectorome Fund's Probability of Financial Distress (%) is 0.01%.
Like the Altman Z-Score, the PFD measures a company's bankruptcy risk. However, the main drawback of the Z-score is it does not apply to banks and insurance companies. According to Investopedia, the concept of "working capital" does not apply to banks and insurance companies, as financial institutions do not have typical current assets or current liabilities like inventories or accounts payable.
Competitive Comparison of Allspring Multi-Sectorome Fund's Probability of Financial Distress (%)
For the Asset Management subindustry, Allspring Multi-Sectorome Fund's Probability of Financial Distress (%), along with its competitors' market caps and Probability of Financial Distress (%) data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Allspring Multi-Sectorome Fund's Probability of Financial Distress (%) Distribution in the Asset Management Industry
For the Asset Management industry and Financial Services sector, Allspring Multi-Sectorome Fund's Probability of Financial Distress (%) distribution charts can be found below:
* The bar in red indicates where Allspring Multi-Sectorome Fund's Probability of Financial Distress (%) falls into.
Allspring Multi-Sectorome Fund Probability of Financial Distress (%) Calculation
Probability of Financial Distress (%) (PFD) was developed by John Campbell, Jens Hilscher and Jan Szilagyi in their Search of Distress Risk. It measures the probability that a company will go bankrupt within the next 12 months given its current financial position.
The Probability of Financial Distress (%) was obtained by a logit probability model based on eight explanatory variables. The logit formula to compute the probability of financial distress (LPFD) is given below:
| LPFD | = | -20.12 * NIMTAAVG | + | 1.60 * TLMTA | - | 7.88 * EXRETAVG | + | 1.55 * SIGMA | - | 0.005 * RSIZE | - | 2.27 * CASHMTA | + | 0.070 * MB | - | 0.09 * PRICE | - | 8.87 |
| = | -9.18 |
The Probability of Financial Distress (%) (PFD) was then obtianed by:
| PFD | = | 1 | / | (1 + e^(-LPFD)) | * | 100% |
| = | 0.01% |
The eight explanatory variables are:
1. NIMTAAVG = Net Income to Market Total Assets
*Note that for companies reported quarterly, geometrically declining weighted quarterly Net Income data in latest four quarters are used.
2. TLMTA = Total liabilities to Market Total Assets
3. CASHMTA = Cash to Market Total Assets
For banks, CASHMTA is measured as:
4. EXRETAVG = Excess Return compared to the S&P 500
EXRETAVG is the weighted excess return compared to the S&P 500 in past 12 month. Geometrically declining weights are imposed on the monthly excess return to reflect lagged information. The weight is halved each quarter.
5. SIGMA = Standard Deviation of Daily Returns
For sigma, we use the annualized standard deviation of a company's returns over the past 92 days (or 63 trading days).
6. RSIZE = Relative Size
| RSIZE | = | log (Market Cap | / | Total Market Cap of S&P 500 companies) |
7. MB = Market to Adjusted Book Equity Ratio
8. PRICE
PRICE is measured as the log of the stock price, capped at log(15).
Allspring Multi-Sectorome Fund (Allspring Multi-Sectorome Fund) Business Description
Traded in Other Exchanges
N/A
Address
525 Market Street, San Francisco, CA, USA, 94105
Allspring Multi-Sector Income Fund is a closed-end investment management company. The company's core business is to secure a high level of income for its investors consistent with limiting its overall exposure to domestic interest rate risk. It invests in U.S. dollar-denominated below investment-grade bonds, debentures, and other income obligations, including loans and preferred stocks, developed and emerging market debt securities, including obligations of foreign governments or governmental entities, foreign corporations, or supranational agencies denominated in various currencies, asset backed securities and investment grade corporate bonds.
Executives
| Jennifer Lea Grunberg |
officer: Chief Compliance Officer |
350 PARK AVENUE, ALLSPRING GLOBAL INVESTMENTS, NEW YORK NY 10022 |
| Jonathan Crawford |
officer: Chief Compliance Officer |
BOW BELLS HOUSE, 1 BREAD STREET, LONDON X0 EC4M 4BE |
| Paul Werner Felsch |
officer: Chief Complaince Officer |
100 HERITAGE RESERVE, ALLSPRING GLOBAL INVESTMENTS, MENOMONEE FALLS WI 53051 |
| Jane A Freeman |
director |
ALLSPRING FUNDS MANAGEMENT, LLC, 525 MARKET STREET, 12TH FLOOR, SAN FRANCISCO CA 94105 |
| Christopher Micah Baker |
officer: Chief Compliance Officer |
ALLSPRING GLOBAL INVESTMENTS, 101 SEAPORT BLVD, BOSTON MA 02356 |
| Karin Brotman |
officer: Chief Compliance Officer |
ALLSPRING GLOBAL INVESTMENTS, 525 MARKET STREET, SAN FRANCISCO CA 94105 |
| Kate Sandman Mckinley |
officer: Chief Compliance Officer |
ALLSPRING GLOBAL INVESTMENTS, 101 SEAPORT BLVD, BOSTON MA 02210 |
| Richard Matthew Prasse |
officer: Secretary |
WELLS FARGO LAW DEPARTMENT, 125 HIGH STREET, FLOOR 13, BOSTON MA 02110-2704 |
| Simon Fj Cockbill |
officer: Chief Compliance Officer |
WELLS FARGO BANK, 33 KING WILLIAM STREET, FLOOR 03, LONDON X0 EC4R 9AT |
| Christopher M Lee |
other: Portfolio Manager |
WELLS CAPITAL MANAGEMENT, 525 MARKET STREET, 12TH FLOOR, SAN FRANCISCO CA 94105 |
| Alison Jane Hewitt |
officer: Chief Compliance Officer |
WELLS FARGO BANK, 33 KING WILLIAM STREET, FLOOR 01, LONDON X0 EC4R 9AT |
| Michael Joseph Schueller |
other: Portfolio Manager |
100 HERITAGE RESERVE, 2ND FLOOR, WELLS CAPITAL MANAGEMENT, MENOMONEE FALLS WI 53051-4400 |
| Daniel J. Mavico |
officer: Chief Compliance Officer |
401 S TRYON STREET, FLOOR 2, CHARLOTTE NC 28202-1911 |
| Kevin T. Roskopf |
other: Share Repurchase Committee Mem |
WELLS FARGO ASSET MANAGEMENT, 100 HERITAGE RESERVE, 1ST FLOOR, MENOMONEE FALLS WI 53051-4400 |
| Catherine Jane Ibbotson |
officer: Chief Compliance Officer |
1 PLANTATION PL 30 FENCHURCH ST, LONDON X0 EC3M 3BD |
Allspring Multi-Sectorome Fund (Allspring Multi-Sectorome Fund) Headlines
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