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15 important things you should know about Allianz Global Investors ANZAX mutual fund

Updated: September 27, 2020
50
Bull Case
  • 3-year return above the benchmark
  • 5-year return above the benchmark
  • 10-year return above the benchmark
Bear Case
  • Low net assets
  • High expense ratio
  • Sales load and/or distribution fees

Before we start: if you’re looking for ANZAX “stock” price, you can quickly find it out by visiting Finny and typing "ANZAX quote". If you’re looking for a quick scoop on ANZAX "stock" (price chart, key stats, buy or sell analysis and holdings), go to Finny and look for "ANZAX". You’ll get all this info in one place.

Are you looking to buy or sell ANZAX? Or perhaps you’re looking for ANZAX fact sheet, and learn about its alternatives? If so, you came to the right place.

In this ANZAX mutual fund review, we’ll address key questions our readers have been asking us about this fund, above and beyond what you can find in its prospectus, and on Morningstar or Yahoo Finance.

Here is what you’ll be able to find in this review:

  • Fact Sheet: ANZAX performance, returns, expense ratio, holdings and dividend yield;
  • Analysis: ANZAX buy or sell; the pros and cons of investing in ANZAX mutual fund;
  • Alternatives: other ETFs and mutual funds you should consider as alternatives to ANZAX.

And here is the list of questions we’ll answer:

  1. Describe Allianz Funds Multi-Strategy Trust: AllianzGI Convertible Fund; Class A Shares (ANZAX).
  2. What are ANZAX holdings?
  3. What is ANZAX performance? What are ANZAX historical returns?
  4. How many up and down years did ANZAX have historically?
  5. What is ANZAX dividend yield?
  6. What is ANZAX minimum initial investment amount?
  7. What is ANZAX expense ratio?
  8. Does ANZAX have any sales loads or 12b-1 distribution expenses?
  9. What is ANZAX tax efficiency (tax-cost ratio)?
  10. What is ANZAX beta? How would you assess ANZAX risk?
  11. What is ANZAX Sharpe ratio?
  12. What is ANZAX Finny Score? ANZAX buy or sell?
  13. What are the pros of investing in ANZAX? What are ANZAX buy reasons?
  14. What are the cons of investing in ANZAX? What are ANZAX sell reasons?

So let’s start. Scroll down to the question that interests you the most.

Fact Sheet

1. Describe Allianz Funds Multi-Strategy Trust: AllianzGI Convertible Fund; Class A Shares (ANZAX).

The Fund seeks maximum total return, consisting of capital appreciation and current income by investing at least 65% of its total assets in income producing equity securities. Equity securities include common stocks, preferred stocks, and securities (including debt securities) that are convertible into common-stock.

2. What are ANZAX top holdings?

ANZAX has 5 stock holdings and 1 bond holdings.

The top 10 holdings represent 16.70% of total assets. Here are the top holdings:

Name Symbol % Assets
Microchip Technology Incorporated 1.62% N/A 2.20%
Splunk Inc 1.12% N/A 1.86%
Broadcom Inc 8% PRF CONVERT 30/09/2022 USD 1000 Ser A AVGOP 1.85%
DexCom Inc 0.25% N/A 1.66%
Bank of America Corp 7 1/4 % Non-Cum Perp Conv Pfd Shs Series -L- BACPL 1.62%
NextEra Energy Inc Unit NEEPP 1.59%
Danaher Corp PRF CONVERT 15/04/2022 USD - Ser A DHRPA 1.57%
Ringcentral Inc 0.01% N/A 1.49%
Insulet Corporation 0.38% N/A 1.45%
EXACT SCIENCES CORPORATION 0.38% N/A 1.41%

3. What is ANZAX performance? What are ANZAX historical returns?

ANZAX has generated the following returns:

  • 1-month return is -0.02%;
  • 3-month return is 13.86%;
  • 1-year return is 33.83%;
  • 3-year return is 19.11%;
  • 5-year return is 13.93%;
  • 10-year return is 12.15%.

4. How many up and down years did ANZAX have historically?

In the last 10 years, ANZAX had 8 up years and 2 down years.

ANZAX up and down years

5. What is ANZAX dividend yield?

ANZAX yield is 1.56%.

6. What is ANZAX minimum initial investment amount?

ANZAX minimum initial investment amount is N/A.

7. What is ANZAX expense ratio?

ANZAX expense ratio is 0.96%. The expense ratio of a fund is the total percentage of fund assets used for administrative, management, and all other expenses.

ANZAX expenses

8. Does ANZAX have any sales loads or 12b-1 distribution expenses?

ANZAX 12b-1 distribution fee is 0.25. ANZAX front-end sales load is 5.5. ANZAX back-end sales load is 0.

9. What is ANZAX tax efficiency (tax-cost ratio)?

  • 1-year ax cost ratio is 1.32%;
  • 3-year ax cost ratio is 3.86%.
ANZAX tax costs

10. What is ANZAX beta? How would you assess ANZAX risk?

  • 3-year beta is 1.28;
  • 5-year beta is 1.25;
  • 10-year beta is 1.26;
  • 15-year beta is 1.21.
ANZAX Beta

11. What is ANZAX Sharpe ratio?

  • 3-year Sharpe ratio is 0.98;
  • 5-year Sharpe ratio is 0.78;
  • 10-year Sharpe ratio is 0.98.
ANZAX Sharpe ratio

Analysis

12. What is Finny Score? buy or sell?

Finny Score is 50. Our quantitative analysis shows 3 reasons to buy and 3 reasons to sell it, resulting in the Finny Score of 50.

13. What are the pros of investing in ANZAX? What are ANZAX buy reasons?

The following are ANZAX strengths from our perspective:

  • <strong>ANZAX 3-year return</strong> is 19.11%, which is higher than the 3-year return of the benchmark index (ICE BofA All US Convertible TR USD), 15.17%.
  • <strong>ANZAX 5-year return</strong> is 13.93%, which is higher than the 5-year return of the benchmark index (ICE BofA All US Convertible TR USD), 12.67%.
  • <strong>ANZAX 10-year return</strong> is 12.15%, which is higher than the 10-year return of the benchmark index (ICE BofA All US Convertible TR USD), 11.33%.

14. What are the cons of investing in ANZAX? What are ANZAX negatives?

The following are ANZAX weaknesses from our perspective:

  • <strong>ANZAX net assets</strong> are $86.10 million. This fund is not a popular choice with retail investors.
  • <strong>ANZAX expense ratio</strong> is 0.96%, which is not negligible. Is the fund expensive to you, and does it align to your investment strategy?
  • Warning: this fund has a 12b1 and front-end sales fee. The maximum 12b1 fee is 0.25%, while the maximum front-end sales load is 5.5%. A 12b-1 fee is an annual marketing or distribution fee on a mutual fund. Front-end sales load, also known as sales charge, is a fee paid when mutual funds shares are purchased. Those fees are subtracted from your total investable assets.
In the ANZAX review, we covered ANZAX key stats (return, performance, yield, expense ratio, and holdings), buy and sell analysis, and alternative investments. If this review was helpful to you, feel free to check out other mutual fund and ETF reviews.
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