AAMPX Fees and Costs — AllianzGI Micro Cap Fund, Class P
Data updated: 2020-05-13
The net expense ratio is 1.34%: a 1.05% management fee plus 1.10% other expenses, less a 0.81% fee waiver. There are no sales loads or redemption fees. In fiscal 2019 the fund paid $38K in broker commissions, 0.1899% of average net assets, and portfolio turnover was 37%.
AAMPX Fees and Expenses
Annual operating expenses and sales charges of AAMPX. Prospectus, as of September 30, 2019.
| Annual operating expenses | |
|---|---|
| Management fee | 1.05% |
| 12b-1 fee | 0.00% |
| Other expenses | 1.10% |
| Gross expense ratio | 2.15% |
| Fee waiver | −0.81% |
| Net expense ratio | 1.34% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
AAMPX Costs Over Time
On $10,000 invested in AAMPX, assuming 5% a year before costs, total costs come to $947 over 5 years, cutting the return by 1.61% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 1.34%) | $141 | $437 | $753 |
| Trading costs (broker commissions) | $20 | $62 | $107 |
| Lost growth on money paid in costs | $0 | $25 | $87 |
| Total costs | $161 | $523 | $947 |
| Value after costs | $10,339 | $11,053 | $11,816 |
| Impact on return, per year | 1.61% | 1.61% | 1.61% |
AAMPX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2019.
- Explicit cost rate (commissions ÷ average net assets): 0.1899%
- Total broker commissions: $38K
- Bought from dealers (principal trades, not a cost): $96.0M
- Portfolio turnover (prospectus): 37%
- Securities lending: none during the year
AAMPX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Jefferies LLC | $8K | 29.31% |
| Goldman Sachs & Co. LLC | $4K | 13.79% |
| Credit Suisse Securities (USA) LLC | $4K | 12.41% |
| JPMorgan Chase & Co. | $2K | 8.68% |
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $2K | 8.60% |
| Cowen and Company, LLC | $2K | 6.57% |
| Oppenheimer & Co. Inc. | $2K | 5.94% |
| JonesTrading Institutional Services LLC | $2K | 5.63% |
| Craig-Hallum & Co. | $1K | 4.77% |
| Pershing LLC | $1K | 4.28% |
AAMPX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $95.5M | 99.54% |
| Barclays Capital Inc. | $106K | 0.11% |
| BMO Capital Markets Corp. | $96K | 0.10% |
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $86K | 0.09% |
| Jefferies LLC | $52K | 0.05% |
| JPMorgan Chase & Co. | $41K | 0.04% |
| Morgan Stanley & Co. LLC | $38K | 0.04% |
| Pershing LLC | $19K | 0.02% |
| Piper Jaffray & Co. | $8K | 0.01% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.