Allianz Global Investors: Managed Accounts




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		MULTI-DISCIPLINE PROFILE	All data as of 09.30.09, unless otherwise indicated.
		Wells Fargo MDP U.S. Large-Cap Balanced

About this Strategy

Strategy Overview

Highlights

	Diversified portfolio of U.S. stocks Automatic rebalancing to maintain diversified asset allocation strategy Multiple investment managers who are experts in their respective disciplines Single, integrated managed account Relatively low minimum investment

Portfolio Construction

Process & Philosophy

ASSET ALLOCATION THROUGH A SINGLE MANAGED ACCOUNT

Allianz Global Investors has taken the benefits of separately managed accounts a step further. Multi-Discipline Portfolios (MDPs) enable investors to implement an asset allocation strategy using independent investment managers-within one integrated managed account. The U.S. Large Cap Balanced MDP blends large-cap growth equity, large-cap value equity and core fixed-income styles to target a diversified 50% stock/50% bond allocation.

COST-EFFECTIVE ALLOCATION

Importantly, investors can access Allianz Global Investors MDPs for a minimum investment that is lower than would be required to open individual accounts with each underlying investment manager.

THE SMART ADMINISTRATION ADVANTAGE

The Allianz Global Investors U.S. Large Cap Balanced MDP gives investors the best of both worlds: independent managers and integrated administration. We accomplish this through a disciplined process called Smart Administration. The benefits include:

Disciplined rebalancing-The portfolio is automatically rebalanced when there is an absolute shift in the aggregate allocation of at least 20%.
Streamlined trading-Trades for all managers are conducted on a single platform to consolidate orders, avoid wash sales and realize trading efficiencies.
Centralized account management-Investors can avoid or limit exposure to specific stocks/sectors and achieve tax management across all sub-portfolios.

ACCESS TO A RANGE OF WORLD-CLASS INVESTMENT MANAGERS

Multi-Discipline Portfolios provide access to the specialized expertise of Allianz Global Investors' affiliated institutional investment firms.

At A Glance

Objective
A portfolio that combines domestic large-cap growth, large-cap value and core fixed-income strategies into one diversified, managed account

Management Firm
NFJ Investment Group LLC (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.

Founded
1989

Assets
$26.1 billion under management (as of 06.30.09)

> Management Commentary

Management Firm
Pacific Investment Management Company LLC (PIMCO)

Newport Beach, California

Led by Founder and Co-Chief Investment Officer Bill Gross, PIMCO is widely recognized as one of the premier bond managers in the world. PIMCO applies this expertise to a range of core and specialized investment portfolios.

Founded
1971

Assets
$841.8 billion under management (as of 06.30.09)

> Management Commentary

Management Firm
RCM Capital Management LLC (RCM)

San Francisco, California

RCM is a truly global asset manager and a company of Allianz Global Investors. The firm operates across three continents and five time zones from six international offices- San Francisco, London, Frankfurt, Hong Kong, Tokyo and Sydney. RCM's range of investment solutions spans the market cap and style spectrum and reaches from regional and global strategies to multi-asset and structured products.

Founded
1970

Assets
$13.8 billion under management (as of 06.30.08)

> Management Commentary



		Past performance is no guarantee of future results. 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. 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. Allianz Global Investors Managed Accounts manages this strategy using model portfolios developed by the sub-advisors as a guide. While Allianz Global Investors Managed Accounts generally intends to follow the sub-advisors' recommendations, as the investment manager it has the discretion to accept or reject any investment recommendation and to deviate from the model portfolios. The allocation of the underlying securities is dynamic. No representation is being made that rebalancing will be timely or have a positive impact on the Portfolio. Hypothetical testing used to help construct this allocation did not take into consideration market conditions, trading costs associated with rebalancing and certain other factors. Smart Administration should not be a substitute for financial advice with respect to changes in an investor's personal financial situation. A position of less than $250,000 in the Total Return portion of the portfolio may result in greater performance dispersion than a larger position in the strategy. The Total Return portion of the portfolio consists of individual securities and a select combination of proprietary, commingled vehicles managed by Allianz Global Investors' affiliated investment manager Pacific Investment Management Company (PIMCO). These vehicles are available only through managed accounts utilizing the Total Return strategy and are available by prospectus only. No fees are charged to clients at the commingled vehicles level. For more information about this product contact your financial advisor. Investing in securities entails risk. When investing in value securities, the market may not necessarily have the same value assessment as the manager, and, therefore, the performance of the securities may decline. Investments in smaller companies may be more volatile than investments in larger companies. Investing in non-U.S. securities entails additional risks, including political and economic risk and the risk of currency fluctuations; these risks may be enhanced in emerging markets. The guarantee on Treasuries, TIPS and Government Bonds is to the timely repayment of principal and interest. Portfolios that invest in them are not guaranteed. With Corporate bonds there is no assurance that issuers will meet their obligations. Diversification does not ensure against loss. The managed account strategies described on this website are offered by Allianz Global Investors Managed Accounts LLC and are available exclusively through financial professionals. Participation is restricted to accounts with a minimum asset level and may not be suitable for all investors. For more information, contact your financial advisor. Financial professionals seeking more information should contact their managed accounts department or Allianz Global Investors. 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


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