GVSIX Fees and Costs — AllianzGI Retirement 2025 Fund, Class R6
Data updated: 2020-08-24
The net expense ratio is 0.55% (0.70% before fee waivers). There are no sales loads or redemption fees. In fiscal 2019 the fund paid $2K in broker commissions, 0.0039% of average net assets, and portfolio turnover was 24%.
GVSIX Fees and Expenses
Annual operating expenses and sales charges of GVSIX. Prospectus, as of September 30, 2019.
| Annual operating expenses | |
|---|---|
| Management fee | 0.05% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.05% |
| Gross expense ratio | 0.70% |
| Fee waiver | −0.15% |
| Net expense ratio | 0.55% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
GVSIX Costs Over Time
On $10,000 invested in GVSIX, assuming 5% a year before costs, total costs come to $350 over 5 years, cutting the return by 0.58% 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 |
| Fund expenses (net expense ratio 0.55%) | $58 | $181 | $315 |
| Trading costs (broker commissions) | $0 | $1 | $2 |
| Lost growth on money paid in costs | $0 | $9 | $32 |
| Total costs | $58 | $191 | $350 |
| Value after costs | $10,442 | $11,385 | $12,413 |
| Impact on return, per year | 0.58% | 0.58% | 0.58% |
GVSIX 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): 0.0039%
- Total broker commissions: $2K
- Bought from dealers (principal trades, not a cost): $234.2M
- Portfolio turnover (prospectus): 24%
- Securities lending: none during the year
GVSIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $2K | 95.47% |
| Instinet, LLC | $49 | 2.92% |
| Barclays Capital Inc. | $27 | 1.61% |
GVSIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $223.8M | 95.55% |
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $3.2M | 1.37% |
| Goldman Sachs & Co. LLC | $1.7M | 0.72% |
| Citigroup Global Markets Inc. | $1.6M | 0.68% |
| Jane Street Execution Services, LLC | $1.5M | 0.64% |
| JPMorgan Chase & Co. | $1.2M | 0.51% |
| Nomura Securities International, Inc. | $1.1M | 0.47% |
| Morgan Stanley & Co. LLC | $145K | 0.06% |
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.