AGBPX — AllianzGI Green Bond Fund
Data updated: 2020-12-09
AGBPX — AllianzGI Green Bond Fund. Bond · $26.62M AUM · 0.55% expense ratio · 3.7% 1-yr return. Holdings, fees, performance and SEC filings.
AGBPX Fund Overview
AGBPX — AllianzGI Green Bond Fund is a US mutual fund managed by Virtus Strategy Trust, categorised as Bond. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Virtus Strategy Trust
- Category: Bond
- Assets under management: $26.62M
- 1-year return: 3.7%
- Ticker: AGBPX
- SEC CIK: 0001423227
- SEC series ID: S000063446
- Share class ID: C000205584
AGBPX Investment Objective and Strategy
AllianzGI Green Bond Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Virtus Strategy Trust.
Investment objective
The Fund seeks to provide total return, through a combination of capital appreciation and current income by investing in Green Bonds.
Principal investment strategy
The Fund seeks to achieve its investment objective by normally investing at least 85% of its net assets (plus borrowings made for investment purposes) in Green Bonds. The Fund currently considers Green Bonds to be interest-bearing securities that are issued in order to finance projects that the portfolio managers believe are intended and/or likely to have a positive impact on the environment. Issuers of Green Bonds typically seek to address environmental solutions and/or support efforts to reduce their own environmental footprint. Through Green Bonds the Fund expects to invest in green projects including, but not limited to, those related to renewable energy (including wind, solar, geothermal and biofuel), sustainable land use and waste management, energy efficiency, greenhouse gas emissions reductions and clean water.
These projects may be classified as green even where the overall business of the issuer is not generally viewed as green or even environmentally friendly. For example, the Fund may invest in bonds issued by an oil company if they finance a project categorized as green. The Fund invests primarily in an investment grade portfolio of Green Bonds of issuers located in both developed and emerging markets. The instruments in which the Fund may invest may be denominated in U.S. and non-U.S. currencies, but are primarily in currencies of developed markets. The Fund may invest up to 20% of its net assets in securities rated below investment grade or unrated and determined to be of similar quality (sometimes referred to as high-yield securities or junk bonds). The Fund may invest up to 20% of its assets in securities of issuers located in emerging markets.
The Fund may invest up to 10% of its net assets in mortgage-backed securities, including non-agency mortgage-backed securities, and/or asset-backed securities. The Fund follows a bottom-up investment process based on fundamental research, with an additional layer of relative value analysis. The portfolio managers begin with a broad investment universe of bonds, and apply a human rights filter on each issuer. The human rights filter is a proprietary analytical tool that assesses the issuers commitment to preventing human rights violations based on company policies and incidences of related allegations. The structure of each bond is evaluated to determine whether it is in line with Green Bond principles. Next, projects financed with a bonds issuance proceeds are analyzed, and projects from certain sectors, such as oil, are reviewed through a separate internal process to ensure alignment with Green Bond principles.
Finally, the portfolio managers perform a qualitative assessment at the issuer level to ensure the Fund favors Green Bonds from issuers with sound environmental strategies. The Funds portfolio as a whole is expected to have a weighted average duration of between zero and ten years under normal conditions. However, the portfolio managers typically manage duration with reference to the Funds benchmark, the ICE BofAML Green Bond Index (Fully Hedged to USD), though duration may vary significantly above or below the benchmark. This flexibility is intended to allow the portfolio managers to reposition the Fund to take advantage of significant interest rate movements. To gain exposure to the various asset classes, the Fund may invest in certain affiliated mutual funds managed by AllianzGI U.S. and/or its affiliates, unaffiliated funds and other pooled vehicles, exchange-traded funds (ETFs) and domestic or foreign private investment vehicles.
The Fund may invest in derivatives for hedging, investment purposes and managing interest rate exposure. It may invest, without limitation, in Treasury futures, options on Treasury futures, interest rate swaps, credit default swaps, total return swaps, CDS indices, currency futures and forwards. The Fund may utilize currency derivatives such as currency forwards and future contracts to hedge its non-dollar investments back to U.S. dollars. The portfolio managers generally seek to hedge most or all of the Fund portfolios foreign currency exposure back to U.S. dollars, though the Fund may at any time have exposure to foreign currency movements. The Fund may invest in securities that have not been registered for public sale, including those that are eligible for purchase and sale pursuant to Rule 144A under the Securities Act of 1933.
AGBPX Performance
Total returns for AGBPX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 3.7% |
AGBPX Risk Information
Risk metrics for AGBPX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 9.5%
AGBPX Costs and Fees
AGBPX costs about $55 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.55%
- Gross expense ratio: 4.24%
- Portfolio turnover: 121%
- Brokerage commissions: 0.38 bps of average net assets (SEC N-CEN)
AGBPX Cashflows
Over the 12 months to 2020-09, AllianzGI Green Bond Fund had net inflows of $18.77M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2020-09 | −$3.37M |
| 2020-08 | $395.86K |
| 2020-07 | $19.93K |
| 2020-06 | $53.52K |
| 2020-05 | $92.49K |
| 2020-04 | $32.63K |
AGBPX Debt Constituents
No individual debt constituents are reported in AllianzGI Green Bond Fund's latest SEC N-PORT filing.
AGBPX Prospectus and SEC Filings
Official AllianzGI Green Bond Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2020-02-19
- Prospectus (485BPOS) — filed 2019-02-22
- Prospectus (485BPOS) — filed 2018-11-09
- Portfolio holdings (N-PORT) — filed 2020-11-04
- Portfolio holdings (N-PORT) — filed 2020-08-24
- Portfolio holdings (N-PORT) — filed 2020-05-12
- Annual census (N-CEN) — filed 2020-12-09
- Annual census (N-CEN) — filed 2019-12-09
Related Funds
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Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.