Earlier this week, Allspring Global Investments, a San Francisco-based asset management firm with $463 billion under management, according to its website, adopted two long-short funds from Hamilton Lane, a Conshohocken, Pa.-based holding company that specializes in private-markets investing (its AUM is more than $820 billion).

The funds are the Allspring Global Long/Short Equity Fund and the Allspring U.S. Long/Short Equity Fund. The global fund, whose ticker is AGAQX, has $631 million in assets. The U.S. fund, whose ticker is ADMQX, has $4.4 million. Both are quantitatively managed to go long on securities with “attractive factor exposures” and short in higher-beta securities with “unattractive factor exposures,” said a company press release.

The adoption may make little difference to shareholders. Both funds were already managed by Allspring’s Systematic Edge investment team, a quantitative, model-driven squad led by Harindra (Harin) de Silva that runs $26.6 billion. Systematic Edge has run the global fund since its inception in 2014 and the domestic fund since its inception in 2016.

“We expect fund shareholders to experience a seamless transition,” said an Allspring spokesperson. “There are no changes to the team, investment philosophy, or investment process.”

The global fund is co-managed by David Krider, and the domestic fund is co-managed by Ryan Brown.

“The Systematic Edge team will continue to meet with clients as needed in the course of normal portfolio reviews,” said the spokesperson. “The funds will be offered as part of Allspring's expanding product offerings via our industry-wide distribution platform.”

As to how the funds are managed and the firm’s future plans, the spokesperson declined further comment.