ARMAX Fees and Costs — AllianzGI Global Natural Resources Fund, Class A
Data updated: 2020-05-27
The net expense ratio is 1.44%: a 1.15% management fee, a 0.25% 12b-1 fee plus 0.03% other expenses. This share class carries a maximum front-end sales load of 5.50% and a deferred sales charge of up to 1.00%. In fiscal 2019 the fund paid $22K in broker commissions, 0.1441% of average net assets, and portfolio turnover was 76%.
ARMAX Fees and Expenses
Annual operating expenses and sales charges of ARMAX. Prospectus, as of June 30, 2019.
| Annual operating expenses | |
|---|---|
| Management fee | 1.15% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.03% |
| Gross expense ratio | 1.44% |
| Fee waiver | — |
| Net expense ratio | 1.44% |
| Sales charges | |
|---|---|
| Max front load | 5.50% |
| Max deferred load | 1.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
ARMAX Costs Over Time
On $10,000 invested in ARMAX, assuming 5% a year before costs, total costs come to $1,627 over 5 years, cutting the return by 2.83% 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 | $648 | $550 | $550 |
| Fund expenses (net expense ratio 1.44%) | $143 | $443 | $764 |
| Trading costs (broker commissions) | $14 | $44 | $76 |
| Lost growth on money paid in costs | $28 | $111 | $237 |
| Total costs | $832 | $1,148 | $1,627 |
| Value after costs | $9,668 | $10,428 | $11,135 |
| Impact on return, per year | 8.32% | 3.59% | 2.83% |
ARMAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2019.
- Explicit cost rate (commissions ÷ average net assets): 0.1441%
- Total broker commissions: $22K
- Bought from dealers (principal trades, not a cost): $40.9M
- Portfolio turnover (prospectus): 76%
- Securities lending: none during the year
ARMAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Morgan Stanley & Co. LLC | $4K | 20.60% |
| RBC Capital Markets, LLC | $3K | 17.56% |
| JPMorgan Chase & Co. | $3K | 14.36% |
| Barclays Capital Inc. | $2K | 10.19% |
| Goldman Sachs & Co. LLC | $1K | 7.25% |
| UBS Securities LLC | $1K | 6.80% |
| Credit Suisse Securities (USA) LLC | $1K | 6.09% |
| Citigroup Global Markets Inc. | $1K | 5.89% |
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $1K | 5.89% |
| BMO Nesbitt Burns Securities Ltd. | $995 | 5.37% |
ARMAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $40.8M | 99.90% |
| JPMorgan Chase & Co. | $34K | 0.08% |
| Jane Street Execution Services, LLC | $7K | 0.02% |
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.