XML 126 R103.htm IDEA: XBRL DOCUMENT v2.4.0.8
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading AllianzGI U.S. Managed Volatility Fund
Objective [Heading] rr_ObjectiveHeading Investment Objective
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock

The Fund seeks long-term capital appreciation.

Expense [Heading] rr_ExpenseHeading Fees and Expenses of the Fund
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock

The tables below describe the fees and expenses that you may pay if you buy and hold shares of the Fund.

Shareholder Fees Caption [Text] rr_ShareholderFeesCaption Shareholder Fees (fees paid directly from your investment): None
Operating Expenses Caption [Text] rr_OperatingExpensesCaption Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading Portfolio Turnover.
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock

 The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). The Fund’s portfolio turnover rate for the fiscal year ended June 30, 2013 was 86%. High levels of portfolio turnover may indicate higher transaction costs and may result in higher taxes for you if your Fund shares are held in a taxable account. These costs, which are not reflected in Total Annual Fund Operating Expenses or in the Examples above, can adversely affect the Fund’s investment performance.

Portfolio Turnover, Rate rr_PortfolioTurnoverRate 86.00%
Expense Example [Heading] rr_ExpenseExampleHeading Examples.
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock

 The Examples are intended to help you compare the cost of investing in shares of the Fund with the costs of investing in other mutual funds. The Examples assume that you invest $10,000 in the noted class of shares for the time periods indicated, your investment has a 5% return each year, and the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, the Examples show what your costs would be based on these assumptions.

Strategy [Heading] rr_StrategyHeading Principal Investment Strategies
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock

The Fund seeks to achieve its investment objective by normally investing at least 80% of its net assets (plus borrowings made for investment purposes) in equity securities of U.S. companies. The Fund currently defines “U.S. companies” as those companies that (i) are incorporated in the U.S., (ii) derive at least 50% of their revenue or profits from business activities in the U.S. or (iii) maintain at least 50% of their assets in the U.S. The Fund expects to invest typically in companies with market capitalizations at or above the lowest market capitalization of companies represented in the Russell 1000 Index (approximately $487 million as of June 30, 2013). The Fund intends to utilize an investment strategy that focuses on the overall management of portfolio volatility. This focus may result in the Fund outperforming the general securities market during periods of flat or negative market performance, and underperforming the general securities market during periods of strong positive market performance.


The portfolio managers use a dynamic quantitative process combined with a fundamentals-based, actively-managed security selection process to make individual security and sector selection decisions. Under the Sub-Adviser’s managed volatility strategy, the portfolio managers seek to emphasize stocks that exhibit a lower sensitivity to broader market movements (or “beta”), as they believe that stocks with higher betas are not rewarded with commensurately higher returns by the market. The portfolio construction process is iterative in nature. Initially, the portfolio managers build a fully invested and diversified portfolio subject to sector, capitalization and security constraints with a goal of minimizing total volatility as measured by the standard deviation of returns. The team then overlays a proprietary stock selection model and seeks to build a final portfolio of stocks that considers the trade off between volatility and sources of relative performance (or “alpha”). The portfolio managers consider whether to sell a particular security when any of the above factors materially changes, or when a more attractive investment candidate is available.


In addition to equity securities (such as preferred stocks, convertible securities and warrants) and equity-related instruments, the Fund may invest in securities issued in initial public offerings (IPOs), and utilize foreign currency exchange contracts, options, stock index futures contracts, warrants and other derivative instruments. Although the Fund does not expect to invest significantly in derivative instruments during its current fiscal year, it may do so at any time.

Risk [Heading] rr_RiskHeading Principal Risks
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock

The principal risks of investing in the Fund, which could adversely affect its net asset value, yield and total return, are (in alphabetical order after the first three risks):


Market Risk: The Fund will be affected by factors influencing the U.S. or global economies and securities markets or relevant industries or sectors within them.

Issuer Risk: The Fund will be affected by factors specific to the issuers of securities and other instruments in which the Fund invests, including actual or perceived changes in the financial condition or business prospects of such issuers.

Equity Securities Risk: Equity securities may react more strongly to changes in an issuer’s financial condition or prospects than other securities of the same issuer.

Credit and Counterparty Risk: An issuer or counterparty may default on obligations.

Derivatives Risk: Derivative instruments are complex, have different characteristics than their underlying assets and are subject to additional risks, including leverage, liquidity and valuation.

Focused Investment Risk: Focusing on a limited number of issuers, sectors, industries or geographic regions increases risk and volatility.

IPO Risk: Securities purchased in initial public offerings have no trading history, limited issuer information and increased volatility.

Liquidity Risk: The lack of an active market for investments may cause delay in disposition or force a sale below fair value.

Management Risk: The Fund will be affected by the allocation determinations, investment decisions and techniques of the Fund’s management.

Smaller Company Risk: Securities issued by smaller companies may be more volatile and present increased liquidity risk relative to securities issued by larger companies.

Turnover Risk: High levels of portfolio turnover increase transaction costs and taxes and may lower investment performance.

    Please see “Summary of Principal Risks” in the Fund’s statutory prospectus for a more detailed description of the Fund’s risks. It is possible to lose money on an investment in the Fund. An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.
Risk Lose Money [Text] rr_RiskLoseMoney It is possible to lose money on an investment in the Fund.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading Performance Information
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock

The performance information below provides some indication of the risks of investing in the Fund by showing changes in its total return from year to year and by comparing the Fund’s average annual total returns with those of a broad-based market index and a performance average of similar mutual funds. The bar chart and the information to its right show performance of the Fund’s Institutional Class shares. Class P, Administrative Class and Class D performance would be lower than Institutional Class performance because of the lower expenses paid by Institutional Class shares. For periods prior to the inception date of a share class, performance information shown for such class may be based on the performance of an older class of shares that dates back to the Fund’s inception, as adjusted to reflect certain fees and expenses paid by the newer class. These adjustments generally result in estimated performance results for the newer class that are higher or lower than the actual results of the predecessor class due to differing levels of fees and expenses paid. Details regarding the calculation of the Fund’s class-by-class performance, including a discussion of any performance adjustments, are provided under “Additional Performance Information” in the Fund’s statutory prospectus and SAI. Past performance, before and after taxes, is not necessarily predictive of future performance. Visit us.allianzgi.com for more current performance information. Prior to December 1, 2011, the Fund was managed pursuant to a different investment strategy and would not necessarily have achieved the performance results shown below under its current investment strategy.

Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The performance information below provides some indication of the risks of investing in the Fund by showing changes in its total return from year to year and by comparing the Fund's average annual total returns with those of a broad-based market index and a performance average of similar mutual funds.
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress us.allianzgi.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture Past performance, before and after taxes, is not necessarily predictive of future performance.
Bar Chart [Heading] rr_BarChartHeading Calendar Year Total Returns - Institutional Class
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock
More Recent Return Information
1/1/13-6/30/13 14.17%
Highest and Lowest Quarter Returns
(for periods shown in the bar chart)
Highest 10/01/2004-12/31/2004 13.13%
Lowest 10/01/2008-12/31/2008 -25.02%
Year to Date Return, Label rr_YearToDateReturnLabel More Recent Return Information
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Jun. 30, 2013
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 14.17%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Highest
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Dec. 31, 2004
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 13.13%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Lowest
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (25.02%)
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are estimated using the highest historical individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns depend on an investor's tax situation and may differ from those shown. After-tax returns are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown After-tax returns are for Institutional Class shares only. After-tax returns for other share classes will vary.
Performance Table Explanation after Tax Higher rr_PerformanceTableExplanationAfterTaxHigher In some cases the return after taxes may exceed the return before taxes due to an assumed tax benefit from any losses on a sale of Fund shares at the end of the measurement period.
Performance Table Closing [Text Block] rr_PerformanceTableClosingTextBlock

    After-tax returns are estimated using the highest historical individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. In some cases the return after taxes may exceed the return before taxes due to an assumed tax benefit from any losses on a sale of Fund shares at the end of the measurement period. After-tax returns are for Institutional Class shares only. After-tax returns for other share classes will vary.

Caption rr_AverageAnnualReturnCaption Average Annual Total Returns (for periods ended 12/31/12)
Russell 1000 Index
 
Risk/Return: rr_RiskReturnAbstract  
Average Annual Returns, 1 Year rr_AverageAnnualReturnYear01 16.42%
Average Annual Returns, 5 Years rr_AverageAnnualReturnYear05 1.92%
Average Annual Returns, 10 Years rr_AverageAnnualReturnYear10 7.52%
Average Annual Returns, Since Inception rr_AverageAnnualReturnSinceInception 7.62%
Average Annual Returns, Inception Date rr_AverageAnnualReturnInceptionDate Jul. 19, 2002
Lipper Large-Cap Core Funds Average
 
Risk/Return: rr_RiskReturnAbstract  
Average Annual Returns, 1 Year rr_AverageAnnualReturnYear01 14.95%
Average Annual Returns, 5 Years rr_AverageAnnualReturnYear05 0.68%
Average Annual Returns, 10 Years rr_AverageAnnualReturnYear10 6.51%
Average Annual Returns, Since Inception rr_AverageAnnualReturnSinceInception 5.91%
Average Annual Returns, Inception Date rr_AverageAnnualReturnInceptionDate Jul. 19, 2002
Institutional
 
Risk/Return: rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets 0.60%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Other Expenses rr_OtherExpensesOverAssets 0.01%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.61%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 $ 62
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 195
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 340
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 762
Annual Return 2003 rr_AnnualReturn2003 19.71%
Annual Return 2004 rr_AnnualReturn2004 11.81%
Annual Return 2005 rr_AnnualReturn2005 4.09%
Annual Return 2006 rr_AnnualReturn2006 15.51%
Annual Return 2007 rr_AnnualReturn2007 17.73%
Annual Return 2008 rr_AnnualReturn2008 (41.24%)
Annual Return 2009 rr_AnnualReturn2009 29.97%
Annual Return 2010 rr_AnnualReturn2010 12.39%
Annual Return 2011 rr_AnnualReturn2011 3.55%
Annual Return 2012 rr_AnnualReturn2012 7.32%
Average Annual Returns, 1 Year rr_AverageAnnualReturnYear01 7.32%
Average Annual Returns, 5 Years rr_AverageAnnualReturnYear05 (0.94%)
Average Annual Returns, 10 Years rr_AverageAnnualReturnYear10 6.10%
Average Annual Returns, Since Inception rr_AverageAnnualReturnSinceInception 5.95%
Average Annual Returns, Inception Date rr_AverageAnnualReturnInceptionDate Jul. 19, 2002
Institutional | After Taxes on Distributions
 
Risk/Return: rr_RiskReturnAbstract  
Average Annual Returns, 1 Year rr_AverageAnnualReturnYear01 4.58%
Average Annual Returns, 5 Years rr_AverageAnnualReturnYear05 (1.91%)
Average Annual Returns, 10 Years rr_AverageAnnualReturnYear10 5.17%
Average Annual Returns, Since Inception rr_AverageAnnualReturnSinceInception 5.07%
Institutional | After Taxes on Distributions and Sale of Fund Shares
 
Risk/Return: rr_RiskReturnAbstract  
Average Annual Returns, 1 Year rr_AverageAnnualReturnYear01 7.02%
Average Annual Returns, 5 Years rr_AverageAnnualReturnYear05 (1.04%)
Average Annual Returns, 10 Years rr_AverageAnnualReturnYear10 5.01%
Average Annual Returns, Since Inception rr_AverageAnnualReturnSinceInception 4.90%
P
 
Risk/Return: rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets 0.70%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Other Expenses rr_OtherExpensesOverAssets 0.01%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.71%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 73
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 227
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 395
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 883
Average Annual Returns, 1 Year rr_AverageAnnualReturnYear01 7.23%
Average Annual Returns, 5 Years rr_AverageAnnualReturnYear05 (1.05%)
Average Annual Returns, 10 Years rr_AverageAnnualReturnYear10 5.99%
Average Annual Returns, Since Inception rr_AverageAnnualReturnSinceInception 5.84%
Average Annual Returns, Inception Date rr_AverageAnnualReturnInceptionDate Jul. 19, 2002
Administrative
 
Risk/Return: rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets 0.60%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Other Expenses rr_OtherExpensesOverAssets 0.01%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.86%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 88
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 274
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 477
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 1,061
Average Annual Returns, 1 Year rr_AverageAnnualReturnYear01 7.09%
Average Annual Returns, 5 Years rr_AverageAnnualReturnYear05 (1.19%)
Average Annual Returns, 10 Years rr_AverageAnnualReturnYear10 5.83%
Average Annual Returns, Since Inception rr_AverageAnnualReturnSinceInception 5.69%
Average Annual Returns, Inception Date rr_AverageAnnualReturnInceptionDate Jul. 19, 2002
D
 
Risk/Return: rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets 0.70%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Other Expenses rr_OtherExpensesOverAssets 0.01%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.96%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 98
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 306
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 531
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 $ 1,178
Average Annual Returns, 1 Year rr_AverageAnnualReturnYear01 6.97%
Average Annual Returns, 5 Years rr_AverageAnnualReturnYear05 (1.32%)
Average Annual Returns, 10 Years rr_AverageAnnualReturnYear10 5.67%
Average Annual Returns, Since Inception rr_AverageAnnualReturnSinceInception 5.52%
Average Annual Returns, Inception Date rr_AverageAnnualReturnInceptionDate Jul. 19, 2002