The Fund seeks capital appreciation, with added emphasis on the protection of capital during unfavorable market conditions. | Portfolio of passive S&P 500 exposure with long put options and short call options on the S&P 500 Index | | Symbol AZUAX | Investment Style/Market Capitalization 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 |
|
| 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.
 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.
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