AZL MSCI Emerging Markets Equity Index Fund
Data updated: 2023-03-16
C000048321 — AZL MSCI Emerging Markets Equity Index Fund. China Blend / Core Equity · $177.59M AUM. Holdings, fees, performance and SEC filings.
C000048321 Fund Overview
AZL MSCI Emerging Markets Equity Index Fund is a US mutual fund managed by Allianz Variable Insurance Products Trust, categorised as China 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: Allianz Variable Insurance Products Trust
- Category: China Blend / Core Equity
- Assets under management: $177.59M
- 1-year return: -20.5%
- SEC CIK: 0001091439
- SEC series ID: S000009945
- Share class ID: C000048321
C000048321 Investment Objective and Strategy
AZL MSCI Emerging Markets Equity Index Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Allianz Variable Insurance Products Trust.
Investment objective
The Fund seeks to match the performance of the MSCI Emerging Markets Index as closely as possible.
Principal investment strategy
"The Fund seeks to track the investment results of the MSCI Emerging Markets Index (the ""Underlying Index""), which is designed to measure equity market performance in the global emerging markets. The Underlying Index includes equity securities issued by issuers which range in size between approximately $483 million and $315 billion, although this range may change from time to time. As of February 28, 2018, the Underlying Index consisted of the following 24 emerging market countries: Brazil, Chile, China, Colombia, Czech Republic, Egypt, Greece, Hungary, India, Indonesia, Korea, Malaysia, Mexico, Pakistan, Peru, Philippines, Poland, Qatar, Russia, South Africa, Taiwan, Thailand, Turkey and United Arab Emirates. The Underlying Index may include large- or mid-capitalization companies. Components of the Underlying Index primarily include consumer discretionary, financials and information technology companies.
With approximately 830 constituents, the index covers approximately 85% of the free float-adjusted market capitalization in each country. The components of the Underlying Index, and the degree to which these components represent certain industries, are likely to change over time. The subadviser uses a ""passive"" or indexing approach to try to achieve the Fund's investment objective. Unlike many investment companies, the Fund does not try to ""beat"" the index it tracks and does not seek temporary defensive positions when markets decline or appear overvalued. Indexing may eliminate the chance that the Fund will substantially outperform the Underlying Index but also may reduce some of the risks of active management, such as poor security selection. Indexing seeks to achieve lower costs and better after-tax performance by keeping portfolio turnover low in comparison to actively managed investment companies.
The subadviser uses a representative sampling indexing strategy to manage the Fund. ""Representative sampling"" is an indexing strategy that involves investing in a representative sample of securities that collectively has an investment profile similar to that of the Underlying Index. The securities selected are expected to have, in the aggregate, investment characteristics (based on factors such as market capitalization and industry weightings), fundamental characteristics (such as return variability and yield) and liquidity measures similar to those of the Underlying Index. The Fund may or may not hold all of the securities in the Underlying Index. The Fund generally invests at least 90% of its net assets in the securities of its Underlying Index and in depositary receipts representing securities in its Underlying Index.
The Fund may invest the remainder of its assets in other securities, including securities not in the Underlying Index, but which the subadviser believes will help the Fund track the Underlying Index, and in other investments, including futures contracts, options on futures contracts, other types of options and swaps related to its Underlying Index, as well as cash and cash equivalents. The Fund seeks to track the investment results of the Underlying Index before the fees and expenses of the Fund. The Underlying Index is calculated by MSCI Inc. (the ""Index Provider"" or ""MSCI""), which is independent of the Fund, the Manager and the subadviser. The Index Provider determines the composition and relative weightings of the securities in the Underlying Index and publishes information regarding the market value of the Underlying Index.
Industry Concentration Policy. The Fund will concentrate its investments (i.e., hold 25% or more of its total assets) in a particular industry or group of industries to approximately the same extent that the Underlying Index is concentrated. For purposes of this limitation, securities of the U.S. government (including its agencies and instrumentalities) and repurchase agreements collateralized by U.S. government securities are not considered to be issued by members of any industry."
C000048321 Holdings
Top 10 holdings of AZL MSCI Emerging Markets Equity Index Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Tencent Holdings Limited | 4.43% |
| Alibaba Group Holding Limited | 4.35% |
| Taiwan Semiconductor Manufacturing Co., Ltd. | 3.96% |
| Samsung Electronics Co,.ltd | 3.55% |
| China Construction Bank Corporation | 1.34% |
| Cash | 1.30% |
| Naspers Limited | 1.21% |
| Ping An Insurance (Group) Company of China, Ltd. | 1.16% |
| Reliance Industries Limited | 0.97% |
| China Mobile Limited | 0.93% |
C000048321 Portfolio Allocation
Asset-class allocation of AZL MSCI Emerging Markets Equity Index Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 86.5% |
| Other | 11.9% |
| Cash & Equivalents | 1.5% |
C000048321 Performance
Total returns for C000048321 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | -20.5% |
| 3 years (annualised) | -3.5% |
C000048321 Risk Information
Risk metrics for C000048321, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 22.6%
C000048321 Costs and Fees
C000048321 costs about $69 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.69%
- Gross expense ratio: 1.09%
- Portfolio turnover: 7%
- Brokerage commissions: 0.74 bps of average net assets (SEC N-CEN)
C000048321 Cashflows
Over the 12 months to 2022-12, AZL MSCI Emerging Markets Equity Index Fund had net inflows of $22.74M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2022-12 | $992.31K |
| 2022-11 | $1.01M |
| 2022-10 | $7.96M |
| 2022-09 | $1.50M |
| 2022-08 | $900.05K |
| 2022-07 | $826.20K |
C000048321 Debt Constituents
Largest debt holdings of AZL MSCI Emerging Markets Equity Index Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| Britannia Industries Ltd. | 0.00% |
C000048321 Prospectus and SEC Filings
Official AZL MSCI Emerging Markets Equity Index Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2022-04-28
- Prospectus (485BPOS) — filed 2021-04-29
- Prospectus (485BPOS) — filed 2020-05-11
- Portfolio holdings (N-PORT) — filed 2023-02-27
- Portfolio holdings (N-PORT) — filed 2022-11-29
- Portfolio holdings (N-PORT) — filed 2022-08-26
- Annual census (N-CEN) — filed 2023-03-16
- Annual census (N-CEN) — filed 2022-03-16
Related Funds
Other China 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.