Past performance is no guarantee of future results. An investment in the Fund involves risk, including loss of principal. Investment return and the value of shares will fluctuate. Covered Call Breakdown: Strike Distance measures the difference between the strike price of an option and the market price of the underlying security or index. The Duration of an option is the time period between the purchase (or sale) of the call option and the expiration of that call option. Weighted Average Strike Distance and Weighted Average Duration are weighted averages of all the call options sold by the fund (since inception).

This is not intended as a recommendation, offer or solicitation for the purchase or sale of any financial instrument. References to specific sectors, securities or issuers are for illustrative purposes only. All holdings are subject to change daily.

This information is unaudited and is intended for informational purposes only.

The Fund ordinarily will invest in common stocks and also may invest in other types of equity securities, such as depositary receipts and preferred stocks. The Fund's equity investments will ordinarily be focused primarily in companies located in countries represented in the Morgan Stanley Capital International Europe Australasia Far East Index (the MSCI EAFE Index). The Fund has the flexibility to invest up to 15% of its total assets in securities of companies located in developing or emerging market countries. Investing in non-U.S. securities may entail risk due to foreign economic and political developments; this risk may be enhanced when investing in emerging markets. The Morgan Stanley Capital International (MSCI) Europe, Australasia, Far East Index (EAFE) is an unmanaged index of over 900 companies, and is a generally accepted benchmark for major overseas markets. Index weightings represent the relative capitalizations of those markets included in the index on a U.S. dollar adjusted basis. The Fund may invest up to 10% of its total assets in securities of companies located in the United States.

The Fund will employ its Index Option Strategy by writing (selling) call options on equity indexes such that the underlying value of the indexes are approximately equal to and do not exceed the value of the Fund's portfolio of equity securities i.e., generally approximately 100% of the Fund's net assets. Most of the options written by the Fund will be unlisted or over-the-counter options. The Fund may also utilize other derivative strategies involving call and put options (other than the Index Option Strategy), futures and forward contracts, swap agreements, short sales and other derivative instruments for investment purposes or in an effort to hedge against market and other risks in the portfolio. Use of these instruments may involve certain costs and risks such as liquidity risk, interest rate risk, market risk, credit risk, management risk and the risk that a fund could not close out a position when it would be most advantageous to do so. Portfolios investing in derivatives could lose more than the principal amount invested in those instruments.

The credit quality of the securities in the portfolio are generally calculated by Moody's or S&P; if unrated, the investment manager may determine a comparable rating, which is included in the portfolio breakdown. The credit quality of the investment in the portfolio does not apply to the stability or safety of the fund. Duration is a measure of the fund's price sensitivity expressed in years.

The Funds are closed-end exchange traded investment companies. The material on this website is presented only to provide information and is not intended for trading purposes. Closed-end funds, unlike open-end funds, are not continuously offered. After the initial public offering, shares are sold on the open market through a stock exchange. Investment policies, management fees and other matters of interest to prospective investors may be found in each closed-end fund prospectus. For additional information, please contact your financial advisor. This update is distributed by Allianz Global Investors Distributors LLC, 1345 Avenue of the Americas, New York, NY 10105-4800.

Allianz Global Investors Fund Management LLC, is an indirect, majority-owned subsidiary of Allianz Global Investors of America L.P. and is a member of Munich-based Allianz Group (NYSE - AZ). Allianz is a leading global financial services company. Funds are managed by Allianz Global Investors Fund Management LLC, and the sub-adviser is Pacific Investment Management Company LLC (PIMCO).