# Further unaudited information
Disclosures relating to employee remuneration (all figures in EUR) of Allianz Global Investors GmbH for the financial year from 01/01/2020 to 31/12/2020
The following table shows that total amount of remuneration actually paid to the employees of Allianz Global Investors GmbH (“Management Company” or also called “AllianzGI”) in the past financial year divided into fixed and variable components. It is also broken down by members of
management, risk takers, employees in controlling positions and employees whose total remuneration puts them in the same remuneration category as members of management and risk takers.
Number of employees 1,675
thereof Risk Taker	thereof Board
Compensation
thereof Other Risk
thereof Employees
thereof Employees
Member
Taker
with Control Function with Comparable
| Fixed remuneration | 164,233,442 | 7,695,609 | 1,758,427 | 1,435,262 | 449,851 | 4,052,069 |
| --- | --- | --- | --- | --- | --- | --- |
| Variable remuneration | 103,587,135 | 17,405,428 | 3,452,759 | 5,203,209 | 206,037 | 8,543,423 |
| Total remuneration | 267,820,577 | 25,101,037 | 5,211,186 | 6,638,471 | 655,888 | 12,595,492 |

The information on employee remuneration does not include remuneration paid by delegated managers to their employees. The Management Company does not pay remuneration to employees of delegated companies directly from the fund.
Setting the remuneration
Allianz Global Investors GmbH (“Management Company”) is subject to the supervisory requirements applicable to investment management companies with regard to structuring the remuneration system. The management of Allianz Global Investors GmbH (“Management Company”) is usually responsible for decision-making about determination of employee remuneration. Decisions about the remuneration of the management itself are taken by the Shareholder.
The “Management Company” has set up a remuneration committee to perform the duties required by law. This committee consists of two members of the Fund’s Supervisory Board, each of whom is appointed by the Supervisory Board, where one member should be an employee representative
Working in close cooperation with the Risk Management and Legal & Compliance departments as well as with external advisers and in conjunction with the management, the Human Resources department has developed the Management
Company’s remuneration policy under the requirements of the UCITS and AIFM Directives. This remuneration policy applies to the Management Company domiciled in Germany and to its branches.
Remuneration structure
The primary components of monetary remuneration are the basic salary, which typically reflects the scope, responsibilities and experience required in a particular role, and an annual variable remuneration.
The total amount of the variable remuneration payable throughout the Management Company depends on the performance of the business and on the Management Company’s risk position and will therefore vary every year. In this respect, the allocation of specific amounts to particular employees will depend on the performance of the employee and their departments during the period under review.
Variable remuneration includes an annual bonus paid in cash following the end of the financial year. In the case of employees whose variable remuneration exceeds a certain threshold, a substantial portion of the annual variable remuneration is deferred for a period of three years.

Translation (ENFR, 2021-09-30):
# Informations complémentaires non révisées
Détermination du risque de marché et de l’effet de levier
Dans le cadre de la procédure de gestion des risques, le risque de marché du Compartiment est mesuré et limité au moyen soit de l’approche par les engagements, soit de l’approche de la valeur à risque (Value at Risk, VaR) (VaR relative ou absolue). Pour déterminer le risque de marché du Compartiment, l’approche par les engagements prend en compte le risque supplémentaire généré par l’utilisation
d’instruments financiers dérivés. L’approche VaR est une méthode statistique de calcul de la perte potentielle découlant des variations de valeur dans l’ensemble du Compartiment. Le calcul de la VaR repose généralement sur la méthode « delta normale » (niveau de confiance de 99 %, période de détention présumée de 10 jours, historique de données de 260 jours). Si une autre méthode de calcul est utilisée, elle est indiquée dans le tableau suivant.
À la date de clôture de l’exercice, la méthode suivante de calcul du risque de marché s’appliquait au titre des Compartiments :
Dénomination du Compartiment	Approche	Actif de référence/Limite de VaR absolue
Allianz Vermögenskonzept SRI Ausgewogen
25% MSCI World Extended SRI 5% Issuer Capped Index + 25% MSCI Extended
VaR relative	SRI Europe 5% Issuer Capped + 50% Bloomberg Barclays MSCI Euro Agg SRI
Sector Neutral
615% MSCI World Extended SRI 5% Issuer Capped Index + 15% MSCI Extended
Allianz Vermögenskonzept SRI Defensiv	VaR relative
SRI Europe 5% Issuer Capped + 70% Bloomberg Barclays MSCI Euro Agg SRI
Sector Neutral
Allianz Vermögenskonzept SRI Dynamisch
35% MSCI World Extended SRI 5% Issuer Capped Index + 35% MSCI Extended
VaR relative	SRI Europe 5% Issuer Capped + 30% Bloomberg Barclays MSCI Euro Agg SRI
Sector Neutral
Le tableau suivant retrace l’utilisation du budget de risque minimale, maximale et moyenne (risk budget utilisation – RBU) de la Société au cours de la période considérée. Pour les Compartiments qui utilisent l’approche value-at-risk (VaR) relative, l’utilisation est déclarée par rapport à la limite stipulée par les autorités de régulation (c’est-à-dire 2 fois la VaR de l’indice de référence défini). Pour les Compartiments qui
utilisent l’approche value-at-risk (VaR) absolue, l’utilisation est déclarée par rapport à la limite de la VaR absolue indiquée dans le tableau ci-dessus. Ce tableau indique également l’effet de levier moyen des Compartiments au cours de la période considérée. L’effet de levier moyen est calculé comme la moyenne du total des valeurs nominales de produits dérivés.
| Dénomination du Compartiment	Effet de | RBA | RBA | RBA |
| --- | --- | --- | --- |
| levier moyen en % | minimale en % | maximale en % | moyenne en % |
| Allianz Vermögenskonzept SRI	17,52 | 7,05 | 64,44 | 47,14 |
| Allianz Vermögenskonzept SRI Defensiv	3,26 | 7,36 | 68,73 | 50,64 |
| Allianz Vermögenskonzept SRI	33,08 | 6,23 | 63,42 | 46,59 |

Ausgewogen
Dynamisch