APBPX Fees and Costs — AllianzGI PerformanceFee Structured US Equity Fund, Class P
Data updated: 2020-12-09
The net expense ratio is 0.37% (0.84% before fee waivers). There are no sales loads or redemption fees. In fiscal 2020 the fund paid $245K in broker commissions, 0.2987% of average net assets, and portfolio turnover was 8%.
APBPX Fees and Expenses
Annual operating expenses and sales charges of APBPX. Prospectus, as of September 30, 2019.
| Annual operating expenses | |
|---|---|
| Management fee | 0.35% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.45% |
| Gross expense ratio | 0.84% |
| Fee waiver | −0.47% |
| Net expense ratio | 0.37% |
| 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 | No |
| Waived fees subject to recoupment | Yes |
APBPX Costs Over Time
On $10,000 invested in APBPX, assuming 5% a year before costs, total costs come to $421 over 5 years, cutting the return by 0.70% 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 0.37%) | $39 | $122 | $212 |
| Trading costs (broker commissions) | $31 | $98 | $171 |
| Lost growth on money paid in costs | $0 | $11 | $38 |
| Total costs | $70 | $231 | $421 |
| Value after costs | $10,430 | $11,346 | $12,342 |
| Impact on return, per year | 0.70% | 0.70% | 0.70% |
APBPX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2020.
- Explicit cost rate (commissions ÷ average net assets): 0.2987%
- Total broker commissions: $245K
- Bought from dealers (principal trades, not a cost): $204.5M
- Portfolio turnover (prospectus): 8%
- Securities lending: none during the year
APBPX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $209K | 85.67% |
| Barclays Capital Inc. | $7K | 2.85% |
| Jane Street Execution Services, LLC | $6K | 2.56% |
| J.P. Morgan Securities LLC | $6K | 2.52% |
| Morgan Stanley & Co. LLC | $3K | 1.31% |
| UBS Securities LLC | $3K | 1.24% |
| Citigroup Global Markets Inc. | $3K | 1.16% |
| Instinet, LLC | $2K | 1.00% |
| Susquehanna Financial Group, LLLP | $2K | 0.89% |
| Nomura Securities International, Inc. | $2K | 0.79% |
APBPX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $200.9M | 98.23% |
| Goldman Sachs & Co. LLC | $3.3M | 1.60% |
| Jane Street Execution Services, LLC | $339K | 0.17% |
| The Northern Trust Company | $17K | 0.01% |
| J.P. Morgan Securities LLC | $3K | 0.00% |
| Societe Generale | $500 | 0.00% |
| Barclays Capital Inc. | $159 | 0.00% |
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.