Digging Deep for Yield 

Eric Scholl 

 

5/7/2013 

In an interview on TheStreet.com, Portfolio Manager Eric Scholl discussed the $64,000 question—when rates will rise—and how to unearth yield with short-duration high-yield bonds.

 



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AllianzGI Short Duration High Income Fund (ASHAX) 

Performance and Yield
(As of 4/30/13)

Distribution Yield 

30 - Day SEC Yield 

 Latest Distribution
($/Share)

 Distribution
(YTD)

w/ waiver  w/o waiver 
4.49% 2.02%  2.00%   $0.07055 $0.23286 


   1 Year   Since Inception 
AllianzGI Short Duration High Income Fund (ASHAX) At NAV  6.63% 8.93% 
AllianzGI Short Duration High Income Fund (ASHAX) At MOP 4.23% 7.37%



Performance quoted is past performance. Past performance is not a guarantee of future results.
 
Investors should consider the investment objectives, risks, charges and expenses of any mutual fund carefully before investing. This and other information is contained in the fund’s prospectus and summary prospectus,  which may be obtained by contacting your financial advisor. Click here for a complete list of the Allianz Funds prospectuses and summary prospectuses. Please read them carefully before you invest.

A Word About Risk: High-yield or “junk” bonds have lower credit ratings and involve a greater risk to principal. Derivative prices depend on the performance of an underlyingasset; derivatives carry market, credit and liquidity risk. Investments in smaller companies may be more volatile and less liquid than investments in larger companies. Foreignmarkets may be more volatile, less liquid, less transparent and subject to less oversight, and values may fluctuate with currency exchange rates; these risks may be greater inemerging markets. Bond prices will normally decline as interest rates rise. The impact may be greater with longer duration bonds. Unlike US Treasuries, the securities in which thefund invests are not guaranteed as to timely payment of interest and principal and are subject to greater risk.

Distribution Yield is calculated by dividing the sum of all dividend and short-term capital gain distributions in the last 12 months by the NAV on the last business day of the period. The SEC Yield is a standardized annual yield based on the most recent 30-day period. It is calculated in accordance with current Securities and Exchange Commission regulations and is subject to change. The performance number from the year of the Fund's inception is the cumulative return over a partial year.

Performance assumes reinvestment of dividends and capital gains distributions. Taxes on distributions or redemptions have not been deducted. For fund's with an expense reduction, performance would be lower had the expense reduction not been in effect.

Click here to view the Fund's top ten holdings and current sector weightings.
All holdings are subject to change daily.
 
The material contains the current opinions of the author, which are subject to change without notice. Statements concerning financial market trends are based on current market conditions, which will fluctuate. References to specific securities and issuers are for illustrative purposes only and are not intended to be, and should not be interpreted as, recommendations to purchase or sell such securities. Forecasts and estimates have certain inherent limitations, and are not intended to be relied upon as advice or interpreted as a recommendation.

 

Allianz Global Investors Distributors LLC, 1633 Broadway, New York NY, 10019-7585, us.allianzgi.com, 1-800-926-4456.

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