AllianzGI Redwood Fund A (ARRAX)

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

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.

A Word About Risk: There is no assurance that the in-the-money (ITM) buy-write strategy will achieve its objectives. Derivative prices depend on the performance of anunderlying asset; derivatives carry market, credit and liquidity risk. Foreign markets may be more volatile, less liquid, less transparent, and subject to less oversight, and valuesmay fluctuate with currency exchange rates; these risks may be greater in emerging markets. Investments in smaller companies may be more volatile and less liquid thaninvestments in larger companies. Securities purchased in initial public offerings have no trading history, limited issuer information and increased volatility.
 
The Standard & Poor’s 500 Composite Index (S&P 500) is an unmanaged index that is generally representative of the U.S. stock market. The BofA Merrill Lynch 3-Month U.S. Treasury Bill Index is an unmanaged index comprised of a single issue purchased at the beginning of the month and held for a full month. The issue selected ateach month-end rebalancing is the outstanding Treasury Bill that matures closest to, but, not beyond three months from the rebalancing date. The Standard & Poor’s 500 Index is an unmanagedmarket index of large capitalization common stocks. Unless otherwise noted, index returns reflect the reinvestment of income dividends and capital gains, if any, but do not reflect fees, brokeragecommissions 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.
 
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.