AZUAX Fees and Costs — AllianzGI U.S. Equity Hedged Fund, Class A
Data updated: 2021-02-01
The net expense ratio is 1.34% (10.12% before fee waivers). 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 $164 in broker commissions, 0.0072% of average net assets, and portfolio turnover was 13%.
AZUAX Fees and Expenses
Annual operating expenses and sales charges of AZUAX. Prospectus, as of September 30, 2019.
| Annual operating expenses | |
|---|---|
| Management fee | 0.70% |
| 12b-1 fee | 0.25% |
| Other expenses | 9.08% |
| Gross expense ratio | 10.12% |
| Fee waiver | −8.78% |
| Net expense ratio | 1.34% |
| Sales charges | |
|---|---|
| Max front load | 5.50% |
| Max deferred load | 1.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
AZUAX Costs Over Time
On $10,000 invested in AZUAX, assuming 5% a year before costs, total costs come to $1,493 over 5 years, cutting the return by 2.58% 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 1.34%) | $133 | $413 | $714 |
| Trading costs (broker commissions) | $1 | $2 | $4 |
| Lost growth on money paid in costs | $28 | $107 | $225 |
| Total costs | $809 | $1,073 | $1,493 |
| Value after costs | $9,691 | $10,503 | $11,270 |
| Impact on return, per year | 8.09% | 3.35% | 2.58% |
AZUAX 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): 0.0072%
- Total broker commissions: $164
- Bought from dealers (principal trades, not a cost): $35K
- Portfolio turnover (prospectus): 13%
- Securities lending: none during the year
AZUAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $106 | 64.44% |
| Instinet, LLC | $26 | 16.02% |
| Morgan Stanley & Co. LLC | $18 | 10.97% |
| Barclays Capital Inc. | $8 | 4.91% |
| JPMorgan Chase & Co. | $4 | 2.44% |
| Jane Street Financial Limited | $2 | 1.22% |
AZUAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Citadel Securities LLC | $15K | 42.10% |
| The Northern Trust Company | $12K | 33.18% |
| Jane Street Execution Services, LLC | $9K | 24.71% |
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.