AZIIX Fees and Costs — AllianzGI Structured Return Fund, Institutional Class
Data updated: 2020-12-09
The net expense ratio is 0.77% (0.82% before fee waivers). There are no sales loads or redemption fees. In fiscal 2020 the fund paid $2.1M in broker commissions, 0.6075% of average net assets, and portfolio turnover was 96%.
AZIIX Fees and Expenses
Annual operating expenses and sales charges of AZIIX. Prospectus, as of September 30, 2019.
| Annual operating expenses | |
|---|---|
| Management fee | 0.60% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.18% |
| Gross expense ratio | 0.82% |
| Fee waiver | −0.05% |
| Net expense ratio | 0.77% |
| 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 |
AZIIX Costs Over Time
On $10,000 invested in AZIIX, assuming 5% a year before costs, total costs come to $855 over 5 years, cutting the return by 1.45% 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 0.77%) | $81 | $251 | $434 |
| Trading costs (broker commissions) | $64 | $198 | $342 |
| Lost growth on money paid in costs | $0 | $22 | $79 |
| Total costs | $145 | $472 | $855 |
| Value after costs | $10,355 | $11,104 | $11,908 |
| Impact on return, per year | 1.45% | 1.45% | 1.45% |
AZIIX 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): 0.6075%
- Total broker commissions: $2.1M
- Bought from dealers (principal trades, not a cost): $14.5B
- Portfolio turnover (prospectus): 96%
- Securities lending: none during the year
AZIIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $1.7M | 82.04% |
| Nomura Securities International, Inc. | $102K | 4.86% |
| Jane Street Execution Services, LLC | $76K | 3.62% |
| J.P. Morgan Securities LLC | $56K | 2.69% |
| Barclays Capital Inc. | $49K | 2.35% |
| Morgan Stanley & Co. LLC | $33K | 1.57% |
| UBS Securities LLC | $24K | 1.14% |
| Citigroup Global Markets Inc. | $20K | 0.97% |
| Instinet, LLC | $10K | 0.50% |
| Susquehanna Financial Group, LLLP | $5K | 0.26% |
AZIIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $13.9B | 95.48% |
| Citigroup Global Markets Inc. | $233.9M | 1.61% |
| Goldman Sachs & Co. LLC | $152.6M | 1.05% |
| Nomura Securities International, Inc. | $90.6M | 0.62% |
| Morgan Stanley & Co. LLC | $57.2M | 0.39% |
| J.P. Morgan Securities LLC | $56.1M | 0.39% |
| Mizuho Securities USA LLC | $25.0M | 0.17% |
| Bofa Securities, Inc. | $16.3M | 0.11% |
| Societe Generale | $13.0M | 0.09% |
| Wells Fargo Securities, LLC | $11.0M | 0.08% |
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.