AOBIX Fees and Costs — AllianzGI Core Bond Fund, Institutional Class
Data updated: 2020-08-24
The net expense ratio is 0.25%: a 0.25% management fee plus 7.27% other expenses, less a 7.27% fee waiver. There are no sales loads or redemption fees. In fiscal 2019 the fund paid $3K in broker commissions, 0.0080% of average net assets, and portfolio turnover was 902%.
AOBIX Fees and Expenses
Annual operating expenses and sales charges of AOBIX. Prospectus, as of September 30, 2019.
| Annual operating expenses | |
|---|---|
| Management fee | 0.25% |
| 12b-1 fee | 0.00% |
| Other expenses | 7.27% |
| Gross expense ratio | 7.52% |
| Fee waiver | −7.27% |
| Net expense ratio | 0.25% |
| 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 |
AOBIX Costs Over Time
On $10,000 invested in AOBIX, assuming 5% a year before costs, total costs come to $164 over 5 years, cutting the return by 0.27% 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 0.25%) | $26 | $83 | $144 |
| Trading costs (broker commissions) | $1 | $3 | $5 |
| Lost growth on money paid in costs | $0 | $4 | $15 |
| Total costs | $27 | $89 | $164 |
| Value after costs | $10,473 | $11,487 | $12,599 |
| Impact on return, per year | 0.27% | 0.27% | 0.27% |
AOBIX 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): 0.0080%
- Total broker commissions: $3K
- Bought from dealers (principal trades, not a cost): $1.3B
- Portfolio turnover (prospectus): 902%
- Securities lending: none during the year
AOBIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $3K | 100.00% |
AOBIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $784.0M | 67.11% |
| Morgan Stanley & Co. LLC | $86.9M | 7.44% |
| JPMorgan Chase & Co. | $60.3M | 5.16% |
| Barclays Capital Inc. | $46.2M | 3.96% |
| Wells Fargo Securities, LLC | $45.4M | 3.89% |
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $44.6M | 3.82% |
| Citigroup Global Markets Inc. | $33.2M | 2.84% |
| RBC Capital Markets, LLC | $24.0M | 2.05% |
| Jefferies LLC | $22.3M | 1.91% |
| State Street Bank and Trust Company | $21.3M | 1.83% |
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.