The Wells Fargo Advantage Funds - Allspring Income Opportunities Fund operates as a closed-end mutual fund specializing in fixed income. It was launched and is principally overseen by Wells Fargo Funds Management, LLC, with Wells Capital Management Incorporated providing co-management services. This fund's investment strategy focuses on the U.S. fixed income markets. Its portfolio primarily comprises sub-investment grade debt instruments, including high-yield bonds, various loan types, and preferred shares. These holdings typically possess credit ratings of Ba or lower from Moody's Investors Service, Inc., or BB or lower from Standard & Poor's Ratings Group. The fund gauges its performance against the Merrill Lynch High Yield Index. Formed on February 26, 2003, this investment vehicle is domiciled in the United States.