AllianzGI Structured Return suffered greater-than-expected losses amid the market sell-off in March 2020. Since then, the team has derisked the portfolio and is entering more-conservative options trades to limit further losses. Because of the failure in risk management protocols and the uncertainty arising from changes to the strategy's execution, its Morningstar Analyst Rating has been downgraded to Negative across all share classes.
Will AZIPX outperform in future?
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The Process Pillar is our assessment of how sensible, clearly defined, and repeatable AZIPX’s performance objective and investment process is for both security selection and portfolio construction.
The People Pillar is our evaluation of the AZIPX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.
The Parent Pillar is our rating of AZIPX’s parent organization’s priorities and whether they’re in line with investors’ interests.