AZL MVP Fidelity Institutional Asset Management Multi-Strategy Fund

Data updated: 2026-08-25

C000112693 — AZL MVP Fidelity Institutional Asset Management Multi-Strategy Fund. Hedge-Fund Replication. Holdings, fees, performance and SEC filings.

C000112693 Fund Overview

AZL MVP Fidelity Institutional Asset Management Multi-Strategy Fund is a US mutual fund managed by Allianz Variable Insurance Products Fund Of Funds Trust, categorised as Hedge-Fund Replication. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

C000112693 Investment Objective and Strategy

AZL MVP Fidelity Institutional Asset Management Multi-Strategy Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Allianz Variable Insurance Products Fund Of Funds Trust.

Investment objective

The Fund seeks a high level of current income while maintaining prospects for capital appreciation.

Principal investment strategy

The Fund is a fund of funds that, under normal market conditions, seeks to achieve its investment objective by investing approximately 95% of its assets in an underlying fund, the AZL Fidelity Institutional Asset Management Multi-Strategy Fund, managed by the underlying funds Subadviser, FIAM LLC. Under normal market conditions, the underlying fund seeks to achieve its objective by investing in a combination of two strategies. Approximately 60% of the underlying funds assets will be invested primarily in investment-grade debt securities (the Fixed-Income Strategy), and approximately 40% of the underlying funds assets will be invested primarily in large cap common stocks (the Equity Strategy). The percentage allocations to each strategy will be monitored regularly by the underlying funds Manager, but generally will not exceed plus or minus 3% of the 60%/40% allocation.

In addition, under normal market conditions, the Fund will allocate approximately 5% of its assets to the MVP risk management process, described below. Under normal market conditions, the Fund will allocate approximately 95% of its assets to the underlying funds described above, and approximately 5% of the Funds assets will be available for the MVP risk management process, which utilizes investment strategies involving equity and/or fixed income futures, such as S&P 500 Index futures and U.S. Treasury futures, which generally are liquid and will target equity and bond exposure similar to the underlying funds. This MVP risk management process involves a quantitative analysis and seeks to reduce the volatility of the Fund. Volatility refers to the amount by which the price of an investment can change over a period of time.

High volatility indicates that the price has changed significantly, up or down, over a short time period; lower volatility indicates that the price is not changing dramatically, but at a steady pace over a period of time. Generally, higher volatility is considered to be more risky. The goal of the MVP process is to achieve Fund volatility at or below 8% on an annualized basis over a full business cycle by either increasing or decreasing the exposure to equities over time. The Fund seeks to accomplish this primarily by selling equity index futures when markets experience heightened volatility, and by buying equity index futures when markets experience normal or lower levels of volatility. Futures are intended to provide the Manager an effective method to reduce volatility of the Fund and limit the need to decrease or increase allocations to the underlying fund.

As a result, the MVP process could cause the equity exposure of the Fund to fluctuate significantly but it will generally not be lower than 10%. The MVP process would generally not reduce equity exposure during periods of moderate and low market volatility but during periods of extreme market volatility the MVP process could result in Fund equity exposure that is significantly lower than 10%. Due to market conditions or other factors, the actual or realized volatility of the Fund for any particular period of time may be materially higher than the threshold volatility level. The Funds threshold volatility level is not a total return performance target. It is possible for the Fund to maintain its volatility at or under its threshold volatility level while having negative performance returns.

The Underlying Funds Fixed-Income Strategy Under normal market conditions, the strategy will invest at least 80% of its assets in debt securities of all types and repurchase agreements for those securities. Such investments include corporate bonds, U.S. Treasury obligations, U.S. government agency mortgage securities and real estate investment trusts. A portion of the investments may not be publicly traded. The Subadviser uses the Bloomberg U.S. Aggregate Bond Index as a guide in structuring the strategy and selecting its investments and manages the strategy to have similar overall interest rate risk to the index. The Bloomberg U.S. Aggregate Bond Index is a broad-based benchmark that measures the investment grade, U.S. dollar-denominated, fixed-rate taxable bond market. The index includes U.S.

Treasury obligations, government-related and corporate securities, mortgage-backed securities (agency fixed-rate and hybrid ARM pass-throughs), asset-backed securities and commercial mortgage-backed securities (agency and non-agency). The Subadviser considers other factors when selecting strategy investments, including the credit quality of the issuer, security-specific features and the Subadvisers assessment of whether the investment is undervalued. In managing the strategys exposure to various risks, including interest rate risk, the Subadviser considers, among other things, the markets overall risk characteristics, the markets current pricing of those risks, and internal views of potential future market conditions. The strategys assets may be allocated among different market sectors (for example, corporate, asset-backed, or government securities) and different maturities based on the Subadvisers view of the relative value of each sector or maturity.

The strategys assets may be invested in securities of foreign issuers, including those located in emerging markets, denominated in U.S. dollars or in local currency, in addition to securities of domestic issuers. The strategy may invest significantly in derivatives instruments, such as interest rate swaps, total return swaps, credit default swaps, and futures contracts (both long and short positions) on securities and indexes, and in forward-settling securities. Such investments may give rise to a form of leverage, particularly when the strategy does not own the assets, instruments or components underlying the derivative instruments. Depending on the Subadvisers outlook and market conditions, the strategy may invest in derivatives instruments in order to gain exposure to assets, instruments, or indexes, interest rates, or credit qualities.

The strategy also may invest up to 20% of its assets in lower-quality debt securities, sometimes called junk bonds. To earn additional income for the strategy, the Subadviser may use a trading strategy that involves selling (or buying) mortgage securities and simultaneously agreeing to purchase (or sell) mortgage securities on a later date at a set price. This trading strategy may increase interest rate exposure and result in an increased portfolio turnover rate which increases transaction costs. The Underlying Funds Equity Strategy Under normal market conditions, the strategy will invest at least 80% of its assets in common stocks included in the S&P 500 Index. The S&P 500 Index is a market capitalization-weighted index of 500 common stocks chosen for market size, liquidity, and industry group representation to represent U.S.

equity performance.A companys market capitalization is based on its current market capitalization or its market capitalization at the time of the funds investment. Companies whose capitalization falls below this level after purchase continue to be considered to have a large market capitalization. The size of the companies in an index changes with market conditions and the composition of the index.In buying and selling securities for the strategy, the Subadviser seeks to outperform the S&P 500 Index by, in general, utilizing a research-driven approach identifying long-term drivers of stock returns that may include, but are not limited to valuation, growth, quality, and other factors. The research is systemically applied alongside a proprietary portfolio construction and risk management framework to select a broadly diversified group of stocks.

The process seeks to maximize the return opportunity while managing benchmark relative risks. The portfolio managers will generally attempt to overweight securities with positive characteristics identified in the evaluation process and underweight securities with negative characteristics.The Subadviser also considers the funds security, industry, and market capitalization weightings relative to the S&P 500 Index when selecting securities for the strategy.The Subadviser may also invest in securities of issuers that are not part of the S&P 500 Index.The Subadviser may also use various techniques, such as buying and selling futures contracts and swaps, to increase or decrease the strategys exposure to changing security prices or other factors that affect security values.If the Subadvisers strategies do not work as intended, the fund may not achieve its objective.

C000112693 Holdings

Top 3 holdings of AZL MVP Fidelity Institutional Asset Management Multi-Strategy Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.

Holding% of net assets
AZL FIAM Multi-Strategy Fund95.25%
United States of America0.01%
S P 500 Emini Future Sep260.01%

View all C000112693 holdings

C000112693 Portfolio Allocation

Asset-class allocation of AZL MVP Fidelity Institutional Asset Management Multi-Strategy Fund by percentage of net assets, from the latest SEC N-PORT filing.

Asset classAllocation
Other95.3%

C000112693 Performance

Total returns for C000112693 (as of 2026-10-01), from SEC filings.

PeriodTotal return
YTD3.9%
1 year10.2%
3 years (annualised)9.3%
5 years (annualised)4.8%

C000112693 Risk Information

Risk metrics for C000112693, derived from monthly returns in SEC filings.

  • 1-year volatility (annualised): 5.9%

C000112693 Costs and Fees

C000112693 costs about $83 per $10,000 invested per year in fund expenses.

  • Net expense ratio: 0.83%
  • Gross expense ratio: 0.84%
  • Portfolio turnover: 6%
  • Brokerage commissions: 0.02 bps of average net assets (SEC N-CEN)

C000112693 Cashflows

Over the 12 months to 2026-06, AZL MVP Fidelity Institutional Asset Management Multi-Strategy Fund had net outflows of $41.02M, from monthly SEC N-PORT filings.

MonthNet flow
2026-06−$4.69M
2026-05−$4.06M
2026-04−$4.41M
2026-03−$4.53M
2026-02−$3.57M
2026-01−$3.69M

C000112693 Debt Constituents

No individual debt constituents are reported in AZL MVP Fidelity Institutional Asset Management Multi-Strategy Fund's latest SEC N-PORT filing.

C000112693 Prospectus and SEC Filings

Official AZL MVP Fidelity Institutional Asset Management Multi-Strategy Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

Related Funds

Other Hedge-Fund Replication 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.