All portfolio statistics reflect the Institutional Composite. The statistics for the Institutional Composite may differ significantly from the portfolio characteristics of the managed account. Despite the differences, Allianz Global Investors Managed Accounts believes the Institutional Composite is reasonably representative of the Portfolios management style and is sufficiently relevant for consideration by prospective brokers/investors. Portfolio holdings are subject to change daily. Under no circumstances does the information contained within represent a recommendation to buy or sell securities. No representation is being made that the Portfolio will achieve performance similar to the Institutional Composite.
Allianz Global Investors Managed Accounts manages the RCM Focused Growth accounts using a model portfolio developed by the sub-advisor RCM Capital Management (RCM) as a guide. While Allianz Global Investors Managed Accounts generally intends to follow RCM's recommendations, as the account manager it has the discretion to accept or reject any investment recommendation and to deviate from the model portfolio.
Earnings growth is the percentage increase or decrease from the prior period's earnings. P/E is a ratio of security price to earnings per share. Typically, an undervalued security is characterized by a low P/E ratio, while an overvalued security is characterized by a high P/E ratio. P/B is a ratio of the current stock price to the book value. This is used to identify undervalued stocks. Beta measures the market related volatility of a portfolio, where the overall market is represented by the S & P 500 for equity portfolios. The beta of the market is 1 by definition. A beta greater than 1 indicates that a portfolio's market risk is greater than the overall market's, while a beta less than 1 indicates a lower market risk. It is important to note that having a low market risk does not necessarily imply low volatility. A portfolio may have a low beta while experiencing volatility as a result of factors independent of the market. Portfolio yield is the weighted average dividend yield of the stocks in the portfolio.
Investing in securities entails risk.
The S & P 500 is an unmanaged index of U.S. companies generally representative of the U.S. stock market.
The managed account strategies described in this material are offered by Allianz Global Investors Managed Accounts and are available exclusively through financial professionals. Managed accounts have a minimum asset level and may not be suitable for all investors. For more information about this product, contact your financial advisor. Financial professionals seeking more information should contact their managed accounts department or call their Allianz Global Investors representative. Allianz Global Investors Managed Accounts LLC, 1345 Avenue of the Americas, New York, NY 10105-4800. Investment Products: NOT FDIC INSURED / MAY LOSE VALUE / NOT BANK GUARANTEED
