# Portfolio Structure ⁶
| Financials |  |
| --- | --- |
| SECURITISED |  | 13.0 |
| Consumer cyclical | 8.1 |  |
| Goverment Related | 7.0 |  |
| FUND | 5.0 |  |
| Utilities | 3.7 |  |
| Communications | 3.2 |  |
| Transportation | 3.0 |  |
| Technology | 2.3 |  |
| Others | 8.8 |  |

Sector Breakdown (%)
46.0
| ALLIANZ S/D GLBL R/E BOND-IT | 5.42 |
| --- | --- |
| QIB SUKUK LTD EMTN VAR 07.02.2025 | 1.73 |
| BBCMS 2018-TALL A MBS VAR 15.03.2037 | 1.55 |
| CREDIT SUISSE GROUP AG EMTN VAR 16.01.2026 | 1.55 |
| BARCLAYS PLC VAR 16.05.2024 | 1.52 |
| GENERAL ELECTRIC CO MTN VAR 05.05.2026 | 1.52 |
| BANQUE FED CRED MUTUEL 144A VAR 04.02.2025 | 1.52 |
| CITIGROUP INC VAR 01.07.2026 | 1.51 |
| GOLDMAN SACHS GROUP INC . VAR 15.05.2026 | 1.50 |
| ICBCIL FINANCE CO LTD EMTN VAR 20.11.2024 | 1.43 |
| Total	19.25 |

Top 10 Holdings (%)
Rating Breakdown (%) ⁷
0	10	20	30	40	50
n
Fund
Country/Location Breakdown (%)
AAA	8.9	Asia Pacific	15.6
AA A BBB BB B
Not Rated
Fund Cash/Derivatives
2.9
2.3
4.0
5.0
2.1
10.4
27.7
36.5
EASTERN EUROPE
Latin America Middle East North America Western Europe
FUND
Cash/Derivatives
0.4
2.1
3.3
5.0
2.0
27.1
44.1
0	10	20	30	40
n
Fund
0	10	20	30	40	 50 
n
Fund
Key Figures
| Average Duration (years) | 0.30 |
| --- | --- |
| Theoretical Yield to Maturity (%) ⁸ | 1.27 |
| Average rating | A- |

Fee Structure	Additional Fund Information
| Front-end load (%) ⁹ | currently 3.00 (max. 5.00) |
| --- | --- |
| All-in fee in % p.a. ⁹ | currently 0.55 (max. 0.90) |
| TER (%) ¹⁰ | 0.58 |

| Bloomberg Ticker | AGFRNAQ LX |
| --- | --- |
| Reuters Ticker | ALLIANZGI01 |

Opportunities
+ Prospect of yield above money market rates, above-average yield potential of ABS/MBS
+ Relatively high degree of price stability through short duration
+ Focus on sustainable investments
+ Broad diversification across numerous securities
+ Possible extra returns through single security analysis and active management
+ Currency gains possible in share classes not hedged against investor currency

Translation (ENIT, 2021-09-30):
# Struttura del fondo ⁷
Struttura del fondo per settori in %	10 titoli principali in %
| ALLIANZ S/D GLBL R/E BOND-IT | 5,42 |
| --- | --- |
| QIB SUKUK LTD EMTN VAR 07.02.2025 | 1,73 |
| BBCMS 2018-TALL A MBS VAR 15.03.2037 | 1,55 |
| CREDIT SUISSE GROUP AG EMTN VAR 16.01.2026 | 1,55 |
| BARCLAYS PLC VAR 16.05.2024 | 1,52 |
| GENERAL ELECTRIC CO MTN VAR 05.05.2026 | 1,52 |
| BANQUE FED CRED MUTUEL 144A VAR 04.02.2025 | 1,52 |
| CITIGROUP INC VAR 01.07.2026 | 1,51 |
| GOLDMAN SACHS GROUP INC . VAR 15.05.2026 | 1,50 |
| ICBCIL FINANCE CO LTD EMTN VAR 20.11.2024 | 1,43 |
| Totale	19,25 |

Finanza	46,0
SECURITISED
Beni di consumo ciclici Obbligazioni quasi sovrane
FUND
Servizi di pubblica utilità
Comunicazione
Trasporto Tecnologia Non specificato
8,1
7,0
5,0
3,7
3,2
3,0
2,3
8,8
13,0
Per solvibilità in % ⁸
0	10	20	30	40	50
n
Fondo
Per paesi/sedi in %
| AAA AA | 2,9 | 8,9 |  |  | Asia Pacifico EASTERN EUROPE | 0,4 | 15,6 |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| A |  |  | 27,7 |  | LATIN AMERICA | 2,1 |  |
| BBB |  |  |  | 36,5 | MIDDLE EAST | 3,3 |  |
| BB |  | 10,4 |  |  | Nord America |  |  |  | 44,1 |
| B | 2,3 |  |  |  | WESTERN EUROPE |  |  | 27,1 |  |
| Senza rating | 4,0 |  |  |  | FUND | 5,0 |  |  |  |
| FUND | 5,0 |  |  |  | Liquidità/Derivati | 2,0 |  |  |  |
| Liquidità/Derivati | 2,1 |  |  |  |  |  |  |  |  |

0	10	20	30	40
n
Fondo
0	10	20	30	40	 50 
n
Fondo
Principali indicatori
| Duration medio (anni) | 0,30 |
| --- | --- |
| Rendimento teorico alla scadenza (%) ⁹ | 1,27 |
| Rating medio | A- |

Sistema di commissioni	Informazioni aggiuntive
| Commissione di vendita in % ¹⁰ | attualmente 3,00 (max. 5,00) |
| --- | --- |
| Commissione forfetaria in % p.a. ¹⁰ | attualmente 0,55 (max. 0,90) |
| TER in % ¹¹ | 0,58 |

| Bloomberg Ticker | AGFRNAQ LX |
| --- | --- |
| Reuters Ticker | ALLIANZGI01 |

Opportunità
+ Prospettiva di rendimenti superiori ai tassi del mercato monetario, potenziale di rendimento superiore alla media per ABS/MBS
+ Sensibilità ai tassi relativamente contenuta grazie alla duration breve
+ Focus sugli investimenti sostenibili
+ Ampia diversificazione su numerosi singoli titoli
+ Possibilità di conseguire ricavi aggiuntivi tramite analisi di singoli titoli e gestione attiva
+ Possibilità di conseguire utili di cambio sulle classi di azioni senza copertura contro la valuta d'investimento