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ANNPX AllianzGI Convertible Institutional

  • Fund
  • ANNPX
  • Price as of: May 21, 2019
  • $27.85 + $0.24 + 0.87%
  • Category
  • Preferred Stock/Convertible Bonds

ANNPX - Profile

Vitals

  • YTD Return 12.7%
  • 3 Yr Annualized Return -1.2%
  • 5 Yr Annualized Return -5.0%
  • Net Assets $543 M
  • Holdings in Top 10 17.4%

52 WEEK LOW AND HIGH

$27.85
$23.71
$32.50

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.71%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 133.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

Closed to new investors as of Jan 16, 2014

STANDARD (TAXABLE)

$1,000,000

IRA

$1,000,000

Investment Themes

CATEGORY

Preferred Stock/Convertible Bonds
  • Fund Type Open End Mutual Fund
  • Investment Style Convertibles

Distributions

  • YTD Total Return 12.7%
  • 3 Yr Annualized Total Return 13.2%
  • 5 Yr Annualized Total Return 7.3%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.27%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name AllianzGI Convertible Fund
  • Fund Family Name Allianz Funds
  • Inception Date Apr 19, 1993
  • Shares Outstanding N/A
  • Share Class Inst
  • Currency USD
  • Domiciled Country United States
  • Manager Douglas G. Forsyth

Fund Description

The fund seeks to achieve its objective by normally investing at least 80% of its net assets (plus borrowings made for investment purposes) in convertible securities. Convertible securities include, but are not limited to, corporate bonds, debentures, notes or preferred stocks and their hybrids that can be converted into (exchanged for) equity securities or other securities (such as warrants or options) that provide an opportunity for equity participation.

ANNPX - Performance

Return Ranking - Trailing

Period ANNPX Return Category Return Low Category Return High Rank in Category (%)
YTD 12.7% 3.4% 14.2% 44.32%
1 Yr -9.3% -10.6% 3.6% 97.73%
3 Yr -1.2%* -3.1% 9.7% 89.77%
5 Yr -5.0%* -5.2% 4.2% 98.86%
10 Yr N/A* -0.1% 7.6% N/A

* Annualized


Return Ranking - Calendar

Period ANNPX Return Category Return Low Category Return High Rank in Category (%)
2018 -13.5% -15.3% -2.5% 82.95%
2017 -6.7% -7.8% 14.8% 93.18%
2016 2.8% -2.1% 8.7% 48.86%
2015 -10.9% -17.9% 1.4% 70.45%
2014 -3.2% -6.8% 10.0% 77.27%

Total Return Ranking - Trailing

Period ANNPX Return Category Return Low Category Return High Rank in Category (%)
YTD 12.7% 3.4% 14.2% 44.32%
1 Yr 7.4% -9.8% 10.4% 9.09%
3 Yr 13.2%* -0.4% 15.0% 7.95%
5 Yr 7.3%* -2.0% 9.7% 6.82%
10 Yr N/A* 3.4% 18.5% N/A

* Annualized


Total Return Ranking - Calendar

Period ANNPX Return Category Return Low Category Return High Rank in Category (%)
2018 2.8% -15.2% 4.5% 3.41%
2017 15.2% 0.9% 18.3% 17.05%
2016 5.9% -2.1% 20.1% 48.86%
2015 -1.5% -17.2% 6.2% 45.45%
2014 6.7% -2.2% 23.8% 36.36%

NAV & Total Return History

ANNPX - Holdings

Concentration Analysis

ANNPX Category Low Category High ANNPX % Rank
Net Assets 543 M 42.1 M 7.32 B 73.86%
Number of Holdings 116 13 313 59.09%
Net Assets in Top 10 92.5 M 22.8 M 1.08 B 78.41%
Weighting of Top 10 17.37% 15.5% 88.8% 86.36%

Top 10 Holdings

  1. Wells Fargo & Co 7 1/2 % Non Cum Perp Conv Pfd Shs -A- Series -L- 2.69%

  2. Microchip Technology Incorporated 1.62% 2.55%

  3. Bank of America Corporation 7 1/4 % Non-Cum Perp Conv Pfd Shs Series -L- 2.45%

  4. Becton, Dickinson and Co Pfd 1.50%

  5. NextEra Energy Inc Unit 1.43%

  6. Tesla Inc 2.38% 1.38%

  7. Palo Alto Networks Inc 0.75% 1.37%

  8. ON Semiconductor Corp. 1.62% 1.36%

  9. Wright Medical Group N.V. 1.62% 1.34%

  10. Crown Castle International Corp Cum Conv Pfd Registered Shs Series -A- 1.31%


Asset Allocation

Weighting Return Low Return High ANNPX % Rank
Convertible Bonds
76.98% 0.00% 98.86% 26.14%
Preferred Stocks
11.80% 0.00% 81.38% 63.64%
Cash
5.39% 0.00% 13.67% 18.18%
Stocks
4.58% 0.00% 25.07% 62.50%
Bonds
1.25% 0.00% 81.17% 60.23%
Other
0.00% 0.00% 5.00% 70.45%

Stock Sector Breakdown

Weighting Return Low Return High ANNPX % Rank
Utilities
2.41% 0.00% 8.38% 40.24%
Industrials
0.88% 0.00% 3.10% 34.15%
Basic Materials
0.79% 0.00% 1.54% 18.29%
Financial Services
0.50% 0.00% 2.34% 46.34%
Technology
0.00% 0.00% 6.33% 73.17%
Real Estate
0.00% 0.00% 23.74% 64.63%
Healthcare
0.00% 0.00% 2.66% 70.73%
Energy
0.00% 0.00% 1.19% 69.51%
Communication Services
0.00% 0.00% 0.61% 68.29%
Consumer Defense
0.00% 0.00% 0.00% 57.32%
Consumer Cyclical
0.00% 0.00% 1.33% 75.61%

Stock Geographic Breakdown

Weighting Return Low Return High ANNPX % Rank
US
4.58% 0.00% 25.07% 62.50%
Non US
0.00% 0.00% 2.05% 68.18%

Bond Sector Breakdown

Weighting Return Low Return High ANNPX % Rank
Corporate
90.03% 20.34% 99.76% 52.27%
Cash & Equivalents
5.39% 0.00% 13.67% 21.59%
Derivative
0.00% 0.00% 1.28% 56.82%
Securitized
0.00% 0.00% 56.03% 62.50%
Municipal
0.00% 0.00% 0.00% 56.82%
Government
0.00% 0.00% 6.56% 68.18%

Bond Geographic Breakdown

Weighting Return Low Return High ANNPX % Rank
US
1.25% 0.00% 77.87% 56.82%
Non US
0.00% 0.00% 22.35% 71.59%

ANNPX - Expenses

Operational Fees

ANNPX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.71% 0.46% 4.01% 93.18%
Management Fee 0.57% 0.26% 1.15% 25.00%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.10% 0.01% 0.30% 71.43%

Sales Fees

ANNPX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.00% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

ANNPX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

Turnover Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

ANNPX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 133.00% 7.00% 213.00% 86.36%

ANNPX - Distributions

Dividend Yield Analysis

ANNPX Category Low Category High ANNPX % Rank
Dividend Yield 0.01% 0.00% 0.07% 76.14%

Dividend Distribution Analysis

ANNPX Category Low Category High Category Mode
Dividend Distribution Frequency Quarterly Quarterly Monthly Quarterly

Dividend Payout History


Net Income Ratio Analysis

ANNPX Category Low Category High ANNPX % Rank
Net Income Ratio 1.27% -0.03% 5.51% 65.91%

Capital Gain Distribution Analysis

ANNPX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

ANNPX - Managers

Douglas G. Forsyth

Manager

Start Date

Tenure

Tenure Rank

Dec 31, 1994

24.35

24.4%

Douglas G. Forsyth, CFA Managing Director, Portfolio Manager CIO US Income & Growth Strategies Mr. Forsyth is a portfolio manager, a managing director and CIO US Income & Growth Strategies with Allianz Global Investors, which he joined in 1994. He is the head of the firm’s Income and Growth Strategies team and a member of the firm’s US Executive Committee. Mr. Forsyth has portfolio management, trading and research responsibilities, and oversees all aspects of the Income and Growth platform’s business, including product development and implementation. He has been the lead portfolio manager for the firm’s High Yield Bond strategy since its inception in 1994 and assumed lead portfolio management responsibility for the firm’s Convertible strategy in 1998. In addition to management responsibility for institutional clients worldwide, Mr. Forsyth supervises multiple open-end and closed-end mutual funds. He was previously an analyst at AEGON USA. He has a B.B.A. from The University of Iowa. Mr. Forsyth is a CFA charterholder.


Justin M. Kass

Manager

Start Date

Tenure

Tenure Rank

Dec 31, 2003

15.34

15.3%

Mr. Kass, CFA, is a portfolio manager and managing director with Allianz Global Investors, which he joined in 2000. He has portfolio management and research responsibilities for the Income and Growth Strategies team. Mr. Kass has 19 years of investment-industry experience. He has a B.S. from the University of California, Davis, and an M.B.A. from the UCLA Anderson School of Management.


Tenure Analysis

Category Low

0.08

Category High

33.88

Category Average

9.43

Category Mode

8.33