AAUPX Fees and Costs — AllianzGI Ultra Micro Cap Fund, Class P
Data updated: 2020-05-12
The net expense ratio is 1.52%: a 1.10% management fee plus 0.96% other expenses, less a 0.54% fee waiver. There are no sales loads or redemption fees. In fiscal 2019 the fund paid $54K in broker commissions, 0.2257% of average net assets, and portfolio turnover was 37%.
AAUPX Fees and Expenses
Annual operating expenses and sales charges of AAUPX. Prospectus, as of September 30, 2019.
| Annual operating expenses | |
|---|---|
| Management fee | 1.10% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.96% |
| Gross expense ratio | 2.06% |
| Fee waiver | −0.54% |
| Net expense ratio | 1.52% |
| 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 |
AAUPX Costs Over Time
On $10,000 invested in AAUPX, assuming 5% a year before costs, total costs come to $1,076 over 5 years, cutting the return by 1.83% 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 1.52%) | $160 | $494 | $850 |
| Trading costs (broker commissions) | $24 | $73 | $126 |
| Lost growth on money paid in costs | $0 | $28 | $99 |
| Total costs | $183 | $596 | $1,076 |
| Value after costs | $10,317 | $10,981 | $11,687 |
| Impact on return, per year | 1.83% | 1.83% | 1.83% |
AAUPX 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): 0.2257%
- Total broker commissions: $54K
- Bought from dealers (principal trades, not a cost): $101.6M
- Portfolio turnover (prospectus): 37%
- Securities lending: none during the year
AAUPX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Jefferies LLC | $9K | 23.23% |
| Goldman Sachs & Co. LLC | $5K | 13.52% |
| Oppenheimer & Co. Inc. | $4K | 10.81% |
| Craig-Hallum & Co. | $3K | 9.09% |
| Credit Suisse Securities (USA) LLC | $3K | 8.61% |
| Raymond James & Associates, Inc. | $3K | 8.07% |
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $3K | 7.37% |
| Citigroup Global Markets Inc. | $3K | 6.86% |
| UBS Securities LLC | $2K | 6.23% |
| JonesTrading Institutional Services LLC | $2K | 6.21% |
AAUPX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $101.2M | 99.61% |
| BMO Capital Markets Corp. | $100K | 0.10% |
| Jefferies LLC | $57K | 0.06% |
| Morgan Stanley & Co. LLC | $49K | 0.05% |
| Piper Jaffray & Co. | $47K | 0.05% |
| STIFEL NICOLAUS & CO INC. | $47K | 0.05% |
| Stephens Inc. | $36K | 0.04% |
| JPMorgan Chase & Co. | $27K | 0.03% |
| William Blair & Company, L.L.C. | $22K | 0.02% |
| Pershing LLC | $15K | 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.