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		STOCK PROFILE	All data as of 05.31.08
		NFJ Dividend Interest & Premium Strategy Fund (NFJ)

About this Fund

Performance

Portfolio

Literature

Fund Overview

Investment Process

NFJ Dividend Value Portfolio

Screen 1,000 largest stocks for low P/E, high dividend yield, and visible earnings.
Apply quantitative grid measuring price momentum, earnings revisions, fundamental change, and insider trading.
Conduct in-depth fundamental research on the remaining 250-300 companies focusing on earnings, cash flow generation, and product potential.
Construct a portfolio of 40-50 companies.
Regularly monitor for buy and sell candidates-Continually repeat the research process to identify new buy and sell candidates. Sell a stock when an alternative stock with equally strong fundamentals demonstrates a substantially lower price-to-earnings ratio, and/or a substantially higher dividend yield.

OCC Index Call Writing Strategy

Utilize both broad index options and narrower based sector index options with the objective of optimizing the correlation between the NFJ stock portfolio's sector allocation and the option strategy's exposure.
Write options slightly out-of-the-money with an average duration of 3 months.

NACM Convertibles

Gather information from internal and external sources, proprietary research models, other portfolio managers and bottom-up fundamental analysis
Combine dedicated and disciplined credit analysis with stock research in selecting convertible securities
Invest only in companies with each of the following three characteristics:

Positive Change-Earnings acceleration, global competitiveness, earnings estimate revision
Sustainability-Long-term earnings consistency, corporate characteristics, economic criteria
Timeliness/Risk Reward Criteria-Up/down participation, solid return in flat environment, significant downside protection

Sell any security that fails to exhibit any one of the preceding three characteristics

At A Glance


		Symbol Lookup
		Symbol		CUSIP
		NFJ		65337H109

Objective
Seeks current income and gains, with a secondary objective of long-term capital appreciation.

Assets (in millions)

Common	$2,303.7
Preferred
Total	$2,303.7

Inception Date
Feb 28, 2005

Shares Outstanding
94,524,325

Avg. Daily Volume
201,567

NAV Yield
8.62%

Market Price Yield
9.01%

Taxable Equivalent Yield
-

Managers
Stephen Bond-Nelson

Stephen Bond-Nelson is a Co-Portfolio Manager for Oppenheimer Capital. He was previously a portfolio manager at PEA Capital and began his career in investments in 1993.

Ben Fischer

Ben Fischer is Managing Director and Portfolio Manager of NFJ Investment Group. A founding partner of NFJ, Mr. Fischer's experience in the value sector began in 1966.

Douglas Forsyth

Douglas Forsyth, C.F.A., is Senior Portfolio Manager and a member of NACM's Executive Committee. He joined the firm in 1994 and has a B.B.A. from the University of Iowa.

Management Firm
NFJ Investment Group L.P. (NFJ)

Dallas, Texas

NFJ employs a deep value equity investment style that focuses on dividends, discipline and diversification. Over the years, the firm's strict adherence to this approach has helped it to deliver consistent results for investors with lower-than-average risk.

> Management Commentary

Nicholas-Applegate Capital Management LLC (NACM)

San Diego, California

Nicholas-Applegate applies a change-focused investment philosophy to domestic and international portfolios across fundamental and systematic equity, income and growth strategies. Each strategy in the firm's diverse line-up follows one of two signature approaches: traditional or model-driven.

> Management Commentary

Oppenheimer Capital LLC (OPCAP)

New York, NY

Oppenheimer Capital (OCC) provides a broad range of innovative equity investment strategies for both institutional and individual investors. The firm’s disciplined approach to money management is focused on delivering alpha to investors’ portfolios through proprietary, bottom-up research that results in differentiated insights.

> Management Commentary



		This information is unaudited and is intended for informational purposes only. This is not an offer or solicitation for the purchase or sale of any financial instrument. It is presented only to provide information on investment strategies and opportunities. The material contains the current opinions of the author, which are subject to change without notice. Statements concerning financial market trends are based on current market conditions, which will fluctuate. References to specific securities and issuers are for illustrative purposes only and are not intended to be, and should not be interpreted as, recommendations to purchase or sell such securities. There is no guarantee that these investment strategies will work under all market conditions, and each investor should evaluate their ability to invest for the long-term, especially during periods of downturn in the market. 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 of closed-end funds are sold in the open market through a stock exchange. For additional information, contact your financial advisor or call 1-800-331-1710. Investment policies, management fees and other matters of interest to prospective investors may be found in each closed-end fund prospectus. The primary objective of the NFJ Dividend Interest and Premium Strategy Fund is to seek current income, with a secondary objective of capital appreciation. The Fund will invest its net assets (plus any borrowings for investment purposes) in dividend-paying or other income-producing equity securities including common stock, preferred stock and other equity-related securities, such as debt instruments and preferred stocks convertible into common stock and related synthetic instruments. The Fund may also invest in non-U.S. securities other than ADR’s, including emerging market securities. 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 convertible component will ordinarily consist of convertible securities, including synthetic convertible securities, and may include convertible securities that are of below investment grade quality. Funds that invest in convertibles may have to convert the securities before they would otherwise, which may have an adverse effect on the Fund’s ability to achieve its investment objective. High-yield securities typically have a lower credit rating than other securities which generally involves a greater risk to principal. 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 equity component of the Fund. The Fund may also utilize other derivative strategies involving call and put options, futures and forward contracts, swap agreements, short sales and other derivative instruments in an attempt 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 these instruments. 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. Allianz Global Investors Fund Management LLC serves as the Funds' investment manager, and the sub-advisors are Nicholas Applegate Capital Management LLC (NACM), NFJ Investment Group L.P. (NFJ) and Oppebheimer Capital LLC (OPCAP). Investment Products: NOT FDIC INSURED \| MAY LOSE VALUE \| NOT BANK GUARANTEED Click here for the Fund's holdings information. Click here for the Fund's performance information.


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