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All data as of 04/30/13, unless otherwise indicated.
Mutual Funds

AllianzGI U.S. Equity Hedged Fund A (AZUAX)

Objective
The Fund seeks capital appreciation, with added emphasis on the protection of capital during unfavorable market conditions.
Primary Portfolio
Portfolio of passive S&P 500 exposure with long put options and short call options on the S&P 500 Index
At a Glance
Symbol
AZUAX
Investment Style/Market Capitalization
VBG
      L
      M
      S
Investment Style
Blend
Market Capitalization
Large
CUSIP Number
01880B397
Total Fund Assets (in millions)
$3.8
Share Class Inception Date
12/3/2012
Dividend Frequency
Annually
Maximum Sales Charge
5.50%
Net Expense Ratio
1.25
Gross Expense Ratio
8.23

Breakpoints

Sales Range (USD)Fee %
$0 - $49,999 5.50%
$50,000 - $99,999 4.50%
$100,000 - $249,999 3.50%
$250,000 - $499,999 2.50%
$500,000 - $999,999 2.00%
$1,000,000 - $2,000,000 0.00%*
$2,000,001 - $5,000,000 0.00%*
$5,000,001 - and above 0.00%*

Fund Overview

Summary

Core US stock exposure with an options overlay to manage risk

Today’s volatile markets have made some investors wary of stocks despite the fact that stocks are essential to reaching most long-term financial goals. To help investors maintain consistent exposure to this vital asset class, the fund supplements its passive US stock holdings with an active options overlay to seek to guard against significant market declines.
 
 

Why invest in this fund?

Provides passive US stock exposure while seeking to smooth out dramatic downturns

The fund provides passive exposure to S&P 500 Index stocks and seeks to participate in rising equity markets while limiting downside risk. However, returns are not expected to be consistent with those of the S&P 500 Index.
 
 

An alternative or complement to a core stock allocation

Many of today’s investors are either risk-averse or too close to retirement to cope well with stock-market volatility. This fund may help them maintain stock-market exposure while guarding against extreme market drops, which may make it a good alternative or complement to their existing stock holdings.
 
 

A seasoned management team experienced in options-based strategies

The AllianzGI Structured Products Group has been managing options-based strategies for institutional investors since 2005, with nearly $1.5 billion in institutional assets under management and manages an option overlay for a closed-end fund with $1.2 billion of notional value. The group is led by Greg Tournant, who has more than 16 years of industry experience.

Managers

Greg Tournant

Mr. Tournant has over sixteen years of investment industry experience and heads AGI Capital’s Structured Products team, which he created in 2005. He is also lead portfolio manager for all strategies managed on this platform. From mid-2007 to late-2008 he served as Co-Chief Investment Officer of Innovative Options Management, where he worked with a predecessor affiliate of AGI Capital in a sub-advisory capacity. Previously, while at a former affiliate, he managed an equity index option-based hedge fund, option programs on several open-end mutual funds as well as an open-end large-cap growth equity mutual fund. Prior to joining AGI Capital via a predecessor affiliate in 2001, he served as a senior research analyst at Eagle Asset Management, and also spent three years as a strategy consultant for McKinsey & Co. and two years as a sell-side research analyst for Raymond James. Mr. Tournant earned his M.B.A. from the Kellogg School of Business at Northwestern University and his B.S. in Finance/Economics from Trinity University

Stephen G. Bond-Nelson

Mr. Bond-Nelson has over nineteen years of investment industry experience and has portfolio management and research responsibilities for the Structured Products team. He has been with the team since its inception in 2005. Prior to joining AGI Capital via a predecessor affiliate in 1999, he was a research analyst/associate with Prudential Mutual Funds. Mr. Bond-Nelson earned his M.B.A. from Rutgers University and his B.S. from Lehigh University.

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.

Past performance is no guarantee of future performance. Investment return and the principal value of an investment will fluctuate; shares may be worth more or less than original cost when redeemed.

A Word About Risk: Equities have tended to be volatile, and do not offer a fixed rate of return. Derivative prices depend on the performance of an underlying asset; derivatives carry market, credit and liquidity risk. High levels of portfolio turnover increase transaction costs and taxes and may lower investment performance.

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

AGI-2012-11-28-5119

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