AllianzGI High Yield Bond Fund A (AYBAX)

The daily section presents performance dating from the inception of the actual share class only.

*This is the inception date of a predecessor fund, which was reorganized into the Fund on 4/9/10. The returns presented are for A shares of the Fund, which were first offered on 4/12/10. The returns for the period prior to the reorganization are based on the historical performance of the predecessor fund’s Institutional shares, adjusted to reflect the Fund’s A shares’ different charges and expenses. Performance assumes reinvestment of dividends and capital gains distributions. Taxes on distributions or redemptions have not been deducted. 

A Word About Risk: Bond prices will normally decline as interest rates rise. The impact may be greater with longer-duration bonds. High-yield or “junk” bonds have lower credit ratings and involve a greater risk to principal. Derivative prices depend on the performance of an underlying asset; derivatives carry market, credit and liquidity risk.

The BofA Merrill Lynch High Yield Master II Index is an unmanaged index consisting of U.S. dollar denominated bonds that are issued in countries having a BBB3 or higher debt rating with at least one year remaining till maturity. All bonds must have a credit rating below investment grade but not in default. Unless otherwise noted, index returns reflect the reinvestment of income dividends and capital gains, if any, but do not reflect fees, brokerage commissions or other expenses of investing. It is not possible to invest directly in an index.

The Lipper Category returns and rankings are calculated by Lipper Inc., a Reuters Company, which is a nationally recognized organization that compares the performance of mutual funds with similar investment objectives. The Category returns represent the average performance of included funds, while rankings compare an individual fund's returns to those of the other funds in its category. Both are based on total return performance, with capital gains and dividends reinvested, with annual operating expenses deducted, but without including front- or back-end sales charges. Rankings begin with the actual share class inception. Rankings are relative to a peer group and do not necessarily mean that the fund had high total returns.

 
Distribution Yield is calculated by dividing the annualized sum of the distributions in the last month by the NAV on the last business day of the month.

Growth of $10,000 is calculated at NAV and assumes that all dividend and capital gain distributions were reinvested. It does not take into account sales charges or the effect of taxes. Results are not indicative of future performance.

The performance number from the year of the Fund's inception is the cumulative return over a partial year.