Heat oven to 350. Grease and flour (or spray) bundt pan generously.
Combine flour, soda, cinnamon, and allspice. Set aside.
In large bowl, mix together butter, brown sugar and sugar until creamy. Beat in egg. Add applesauce and mix until just combined. Add flour mixture one cup at a time until fully incorporated. Stir in raisins and nuts by hand.
Spoon into bundt pan. Cook 60-70 minutes until wooden skewer inserted comes out clean. Cool in pan for about 10 minutes before removing.
To make glaze, melt butter in microwave. Add all remaining ingredients, mixing well until smooth. Let cool slightly before spooning over cooled cake.