GBVAX Fees and Costs — AllianzGI Retirement 2045 Fund, Class A
Data updated: 2020-08-24
The net expense ratio is 0.95% (1.06% 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 $3K in broker commissions, 0.0096% of average net assets, and portfolio turnover was 41%.
GBVAX Fees and Expenses
Annual operating expenses and sales charges of GBVAX. Prospectus, as of September 30, 2019.
| Annual operating expenses | |
|---|---|
| Management fee | 0.05% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.30% |
| Gross expense ratio | 1.06% |
| Fee waiver | −0.11% |
| Net expense ratio | 0.95% |
| 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 |
GBVAX Costs Over Time
On $10,000 invested in GBVAX, assuming 5% a year before costs, total costs come to $1,270 over 5 years, cutting the return by 2.18% 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 0.95%) | $94 | $294 | $510 |
| Trading costs (broker commissions) | $1 | $3 | $5 |
| Lost growth on money paid in costs | $27 | $101 | $204 |
| Total costs | $771 | $949 | $1,270 |
| Value after costs | $9,729 | $10,628 | $11,493 |
| Impact on return, per year | 7.71% | 2.95% | 2.18% |
GBVAX 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): 0.0096%
- Total broker commissions: $3K
- Bought from dealers (principal trades, not a cost): $124.5M
- Portfolio turnover (prospectus): 41%
- Securities lending: none during the year
GBVAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $3K | 100.00% |
GBVAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $123.4M | 99.14% |
| Nomura Securities International, Inc. | $439K | 0.35% |
| JPMorgan Chase & Co. | $437K | 0.35% |
| Jane Street Execution Services, LLC | $195K | 0.16% |
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.