AGMAX Fees and Costs — AllianzGI Emerging Markets SRI Debt Fund, Class A
Data updated: 2020-08-24
The net expense ratio is 1.05%: a 0.60% management fee, a 0.25% 12b-1 fee plus 1.23% other expenses, less a 1.03% fee waiver. This share class carries a maximum front-end sales load of 3.75% and a deferred sales charge of up to 1.00%. Portfolio turnover was 176%.
AGMAX Fees and Expenses
Annual operating expenses and sales charges of AGMAX. Prospectus, as of September 30, 2019.
| Annual operating expenses | |
|---|---|
| Management fee | 0.60% |
| 12b-1 fee | 0.25% |
| Other expenses | 1.23% |
| Gross expense ratio | 2.08% |
| Fee waiver | −1.03% |
| Net expense ratio | 1.05% |
| Sales charges | |
|---|---|
| Max front load | 3.75% |
| Max deferred load | 1.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
AGMAX Costs Over Time
On $10,000 invested in AGMAX, assuming 5% a year before costs, total costs come to $1,110 over 5 years, cutting the return by 1.89% 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 |
| Sales charges | $475 | $375 | $375 |
| Fund expenses (net expense ratio 1.05%) | $106 | $331 | $574 |
| Lost growth on money paid in costs | $19 | $75 | $162 |
| Total costs | $600 | $781 | $1,110 |
| Value after costs | $9,900 | $10,795 | $11,653 |
| Impact on return, per year | 6.00% | 2.42% | 1.89% |
AGMAX 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): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $401.6M
- Portfolio turnover (prospectus): 176%
- Securities lending: none during the year
AGMAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $336.7M | 87.28% |
| Citigroup Global Markets Inc. | $10.3M | 2.66% |
| Jefferies LLC | $6.4M | 1.66% |
| Barclays Capital Inc. | $6.3M | 1.63% |
| JPMorgan Chase & Co. | $5.7M | 1.47% |
| Morgan Stanley & Co. LLC | $5.4M | 1.40% |
| Deutsche Bank Securities Inc. | $5.2M | 1.36% |
| Goldman Sachs & Co. LLC | $3.9M | 1.01% |
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $3.5M | 0.90% |
| HSBC Securities (USA) Inc. | $2.4M | 0.63% |
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.