APKIX Fees and Costs — AllianzGI PerformanceFee Structured US Fixed Income Fund, Institutional Class
Data updated: 2020-05-12
The net expense ratio is 0.37% (0.82% before fee waivers). There are no sales loads or redemption fees. In fiscal 2019 the fund paid $11K in broker commissions, 0.0404% of average net assets, and portfolio turnover was 3%.
APKIX Fees and Expenses
Annual operating expenses and sales charges of APKIX. Prospectus, as of September 30, 2019.
| Annual operating expenses | |
|---|---|
| Management fee | 0.32% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.45% |
| Gross expense ratio | 0.82% |
| Fee waiver | −0.45% |
| 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 | Yes |
| Waived fees subject to recoupment | No |
APKIX Costs Over Time
On $10,000 invested in APKIX, assuming 5% a year before costs, total costs come to $260 over 5 years, cutting the return by 0.43% 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 | $213 |
| Trading costs (broker commissions) | $4 | $13 | $23 |
| Lost growth on money paid in costs | $0 | $7 | $24 |
| Total costs | $43 | $142 | $260 |
| Value after costs | $10,457 | $11,434 | $12,503 |
| Impact on return, per year | 0.43% | 0.43% | 0.43% |
APKIX 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): 0.0404%
- Total broker commissions: $11K
- Bought from dealers (principal trades, not a cost): $23.6M
- Portfolio turnover (prospectus): 3%
- Securities lending: none during the year
APKIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Barclays Capital Inc. | $2K | 20.05% |
| Goldman Sachs & Co. LLC | $2K | 16.85% |
| Nomura Securities International, Inc. | $2K | 14.79% |
| Citigroup Global Markets Inc. | $1K | 13.84% |
| UBS Securities LLC | $951 | 9.34% |
| Deutsche Bank Securities Inc. | $871 | 8.56% |
| Morgan Stanley & Co. LLC | $852 | 8.37% |
| Societe Generale | $364 | 3.58% |
| First Union National Bank | $251 | 2.47% |
| JPMorgan Chase & Co. | $220 | 2.16% |
APKIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $23.0M | 97.44% |
| Jane Street Execution Services, LLC | $321K | 1.36% |
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $200K | 0.85% |
| The Northern Trust Company | $68K | 0.29% |
| Deutsche Bank Securities Inc. | $14K | 0.06% |
| Nomura Securities International, Inc. | $960 | 0.00% |
| Societe Generale | $328 | 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.