The Allianz Global Investors
] team is preparing to eliminate one of their share classes.
A recent filing
with the SEC confirms, that next quarter Allianz will convert D shares of 42 of its mutual funds into A shares. The funds' board approved the move on August 5.
"D shares have become redundant of load-waived A shares," Allianz spokeswoman Kelly Smith tells MFWire
in an emailed statement. "Intermediaries once required D shares for specific platforms and can now accept A shares load-waived for these platforms. We are moving in the same direction as our clients to help serve them better."
"We are constantly analyzing the product line to identify opportunities to optimize the mutual fund product range, and this conversion will directly help to streamline our mutual fund share class offerings," Smith adds.
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