AZIRX — AllianzGI Structured Return Fund
Data updated: 2020-12-09
AZIRX — AllianzGI Structured Return Fund. Small Cap Blend / Core Equity · $31.79M AUM · 0.74% expense ratio. Holdings, fees, performance and SEC filings.
AZIRX Fund Overview
AZIRX — AllianzGI Structured Return Fund is a US mutual fund managed by Virtus Strategy Trust, categorised as Small Cap Blend / Core Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Virtus Strategy Trust
- Category: Small Cap Blend / Core Equity
- Assets under management: $31.79M
- 1-year return: -32.7%
- Ticker: AZIRX
- SEC CIK: 0001423227
- SEC series ID: S000038495
- Share class ID: C000175976
AZIRX Investment Objective and Strategy
AllianzGI Structured Return Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Virtus Strategy Trust.
Investment objective
The Fund seeks long-term capital appreciation.
Principal investment strategy
In pursuing its investment objective of long-term capital appreciation, the Fund either 1) combines long equity exposure with an in-the-money short call overlay strategy or 2) utilizes a short out-of-the-money put strategy. In either case the fund may seek to enhance returns through the use of additional option spreads. Under normal circumstances, the Funds option positions are expected to generate income for the Fund, while significantly limiting the Funds exposure to broader securities market movements. The Fund seeks to generate steady, risk-managed returns that are generally independent of market conditions. To achieve its long equity exposure, the Fund expects to invest typically in one or more exchange traded funds (ETFs), such as the SPDR S&P 500 ETF or iShares Core S&P 500 ETF, that are intended to achieve exposure to and approximate the relative weighting of stocks in the S&P 500 Index.
The Fund also may invest directly in some or all of the companies included in the S&P 500 Index, seeking to replicate approximately the relative weighting of the stocks in the S&P 500 Index. Additionally, in order to achieve the desired long equity exposure, the Fund also may invest in stock index futures and other derivative instruments that would result in a similar market exposure. In addition to the long equity portfolio described above, under normal market conditions, the Fund employs an in-the-money short call overlay strategy, which consists of writing (selling) exchange-traded call options or FLEX call options ( i.e. listed options that are traded on an exchange, such as the CBOE, but with customized strike prices and expiration dates) on the S&P 500 Index that are at strike prices below the current market prices, typically with an aggregate notional value roughly equal to the full value of the Funds long equity portfolio.
Under normal market conditions, the Fund may also employ a short out-of-the-money put strategy, which consists of writing exchange-traded put options or FLEX put options on the S&P 500 Index that are at strike prices below the current market prices. Additionally, under certain circumstances, the portfolio managers may make use of additional option spreads, whereby the Fund utilizes long calls or puts and short or long put or call spreads of exchange-traded or FLEX options on equity and volatility indices, such as the CBOE Volatility Index (VIX), seeking to enhance the portfolios return. The number of contracts bought and sold can be different in a spread (normally called a ratio spread), allowing the portfolio managers to tailor the risk-reward profile of the position, or they can be the same.
It is the Funds general intention to normally hold spread positions with different capped returns and maturities to expiration and all options are expected to be held to expiration unless the portfolio managers conclude that market conditions, redemptions or other circumstances make earlier closeout appropriate or necessary.
AZIRX Performance
Total returns for AZIRX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | -32.7% |
AZIRX Risk Information
Risk metrics for AZIRX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 29.0%
AZIRX Costs and Fees
AZIRX costs about $74 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.74%
- Gross expense ratio: 0.75%
- Portfolio turnover: 96%
- Brokerage commissions: 60.75 bps of average net assets (SEC N-CEN)
AZIRX Cashflows
Over the 12 months to 2020-09, AllianzGI Structured Return Fund had net outflows of $372.01M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2020-09 | −$8.98M |
| 2020-08 | −$4.49M |
| 2020-07 | −$8.07M |
| 2020-06 | −$19.47M |
| 2020-05 | −$39.72M |
| 2020-04 | −$140.79M |
AZIRX Debt Constituents
No individual debt constituents are reported in AllianzGI Structured Return Fund's latest SEC N-PORT filing.
AZIRX Prospectus and SEC Filings
Official AllianzGI Structured Return Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2020-02-19
- Prospectus (485BPOS) — filed 2019-02-22
- Prospectus (485BPOS) — filed 2018-02-16
- Portfolio holdings (N-PORT) — filed 2020-11-04
- Portfolio holdings (N-PORT) — filed 2020-08-24
- Portfolio holdings (N-PORT) — filed 2020-05-12
- Annual census (N-CEN) — filed 2020-12-09
- Annual census (N-CEN) — filed 2019-12-09
Related Funds
Other Small Cap Blend / Core Equity funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.