APMIX Fees and Costs — AllianzGI PerformanceFee Managed Futures Strategy Fund, Institutional Class
Data updated: 2020-12-09
The net expense ratio is 0.26%: a 0.25% management fee plus 1.04% other expenses, less a 1.04% fee waiver. There are no sales loads or redemption fees. In fiscal 2020 the fund paid $41K in broker commissions, 0.1371% of average net assets, and portfolio turnover was 184%.
APMIX Fees and Expenses
Annual operating expenses and sales charges of APMIX. Prospectus, as of September 30, 2019.
| Annual operating expenses | |
|---|---|
| Management fee | 0.25% |
| 12b-1 fee | 0.00% |
| Other expenses | 1.04% |
| Gross expense ratio | 1.30% |
| Fee waiver | −1.04% |
| Net expense ratio | 0.26% |
| 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 |
APMIX Costs Over Time
On $10,000 invested in APMIX, assuming 5% a year before costs, total costs come to $251 over 5 years, cutting the return by 0.42% 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 0.26%) | $27 | $86 | $150 |
| Trading costs (broker commissions) | $14 | $45 | $79 |
| Lost growth on money paid in costs | $0 | $6 | $23 |
| Total costs | $42 | $137 | $251 |
| Value after costs | $10,458 | $11,439 | $12,511 |
| Impact on return, per year | 0.42% | 0.42% | 0.42% |
APMIX 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): 0.1371%
- Total broker commissions: $41K
- Bought from dealers (principal trades, not a cost): $594.3M
- Portfolio turnover (prospectus): 184%
- Securities lending: none during the year
APMIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $41K | 100.00% |
APMIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $335.0M | 56.37% |
| Goldman Sachs & Co. LLC | $166.4M | 28.01% |
| Nomura Securities International, Inc. | $36.6M | 6.16% |
| Citigroup Global Markets Inc. | $23.6M | 3.97% |
| Morgan Stanley & Co. LLC | $13.3M | 2.25% |
| Bofa Securities, Inc. | $10.0M | 1.68% |
| Societe Generale | $4.1M | 0.69% |
| Wells Fargo Securities, LLC | $4.1M | 0.69% |
| BMO Capital Markets Corp. | $1.0M | 0.17% |
| Euroclear Bank | $70K | 0.01% |
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.