AllianzIM Announces Net Asset Value Restatement for AllianzIM U.S. Large Cap Buffer10 Aug ETF (AUGT)

Rhea-AI Summary

Allianz Investment Management , a subsidiary of Allianz Life Insurance Company of North America, restated the NAV per share of the AllianzIM U.S. Large Cap Buffer10 Aug ETF (AUGT) to $27.55 from $24.13 on 3/14/2024, reflecting a 14.17% increase due to a calculation error. Investors should be aware of the risks involved in investing in these ETFs.

Financial Analyst

The restatement of the net asset value (NAV) for AllianzIM U.S. Large Cap Buffer10 Aug ETF represents a significant upward revision of over 14%, which is a substantial adjustment in the context of typical daily fluctuations in ETF NAVs. This event may have implications for investors who rely on accurate NAVs for trading decisions. The correction suggests a lapse in the internal controls or calculation methodologies employed by AllianzIM. Investors and market participants may scrutinize the firm's operational integrity and demand increased transparency in NAV calculation processes. In the short term, this could influence the ETF's trading volume and volatility as the market absorbs the corrected information. Long-term implications might include a reassessment of the trust placed in AllianzIM's ETF products, potentially affecting future capital inflows and the firm's reputation.

Market Research Analyst

Anomalies in NAV calculations can lead to broader market concerns, particularly when they involve widely held assets like large-cap ETFs. The restatement might prompt industry-wide discussions about the accuracy and reliability of ETF NAV reporting. While the immediate financial impact is contained within the AllianzIM U.S. Large Cap Buffer10 Aug ETF, the ripple effects could lead to calls for enhanced regulatory oversight on NAV calculations and disclosures. Market participants will likely monitor peer institutions for similar discrepancies, which could lead to increased due diligence and pressure on other asset managers to affirm their calculation accuracy. This event underscores the importance of precision in financial reporting and may serve as a cautionary tale for other investment management firms.

Compliance Officer

The restatement of NAV by AllianzIM is not only a matter of financial accuracy but also one of regulatory compliance. The Securities and Exchange Commission (SEC) has strict guidelines regarding the calculation and reporting of NAVs for investment products. This error, although corrected, could draw regulatory scrutiny to ensure that AllianzIM adheres to compliance standards. The firm will need to review and possibly overhaul its NAV calculation procedures to prevent future occurrences. Additionally, this incident could lead to regulatory bodies reinforcing the importance of compliance across the industry, potentially resulting in more stringent controls and oversight for NAV calculations.

MINNEAPOLIS--(BUSINESS WIRE)-- Allianz Investment Management LLC (AllianzIM), a wholly owned subsidiary of Allianz Life Insurance Company of North America (Allianz Life^®), announces the net asset value (NAV) per share of the below exchange traded fund was restated as shown below:

ETF Name	Ticker	Revised NAV (3/14/2024)	Original NAV (3/14/2024)	Change (%)
AllianzIM U.S. Large Cap Buffer10 Aug ETF	AUGT	$27.55	$24.13	14.17%

These values differ from previously disclosed NAVs. The NAV adjustments are a result of an error in calculating the NAV for these ETFs.

For more information on AllianzIM Buffered Outcome ETFs, please visit www.allianzIMetfs.com.

Investing involves risk including possible loss of principal.

Investors should consider the investment objectives, risks, charges and expenses carefully before investing. For a prospectus with this and other information about the Fund, please visit www.allianzIMetfs.com or call 877.429.3837. Read the prospectus carefully before investing.

There is no guarantee the funds will achieve their investment objectives. You may lose your entire investment, regardless of when you purchase shares, and even if you hold shares for an entire outcome period. The Fund may not be suitable for all investors.

To learn more, visit www.allianzIMetfs.com.

About Allianz Investment Management LLC

AllianzIM, a wholly owned subsidiary of Allianz Life Insurance Company of North America, is a registered investment adviser. Both are part of Allianz Group. AllianzIM provides hedging and other derivatives-based risk management solutions through its proprietary platform.

About Allianz Life Insurance Company of North America

Allianz Life Insurance Company of North America, one of the Ethisphere World’s Most Ethical Companies^®, has been trusted since 1896 to help millions of Americans prepare for financial uncertainties and retirement with a variety of innovative risk management solutions. In 2023, Allianz Life provided additional value to its policyholders via distributions of more than $13.73 billion. As a leading provider of fixed index annuities, registered index-linked annuities, and fixed index universal life insurance, Allianz Life is part of Allianz SE, a global leader in the financial services industry with approximately 157,000 employees in more than 70 countries. Allianz Life is a proud sponsor of Allianz Field^® in St. Paul, Minnesota, home of Major League Soccer’s Minnesota United.

ETFs distributed by Foreside Fund Services, LLC. Allianz Investment Management LLC, Allianz Life Insurance Company of North America and Allianz SE are not affiliated with Foreside Fund Services, LLC

View source version on businesswire.com: https://www.businesswire.com/news/home/20240317476228/en/

Brett Weinberg

Allianz Life/AllianzIM

(763) 765-7160

brett.weinberg@allianzlife.com

Source: Allianz Life Insurance Company of North America

FAQ

What is the ticker symbol for the AllianzIM U.S. Large Cap Buffer10 Aug ETF mentioned in the PR?

The ticker symbol is AUGT.

What was the original NAV per share of the AllianzIM U.S. Large Cap Buffer10 Aug ETF on 3/14/2024?

The original NAV was $24.13.

What was the revised NAV per share of the AllianzIM U.S. Large Cap Buffer10 Aug ETF on 3/14/2024?

The revised NAV was $27.55, reflecting a 14.17% increase.

Why were the NAV values restated for the AllianzIM U.S. Large Cap Buffer10 Aug ETF?

The NAV adjustments were made due to an error in calculating the NAV for these ETFs.

Where can investors find more information on AllianzIM Buffered Outcome ETFs?

For more information, investors can visit www.allianzIMetfs.com.

What should investors consider before investing in these ETFs?

Investors should carefully consider the investment objectives, risks, charges, and expenses before investing, as investing involves risk including possible loss of principal.