• A comprehensive solution for growth-oriented investors with a long-term time horizon and high risk tolerance, or for those wishing to enhance their portfolios’ growth potential.
• Designed to provide investors with the potential for inflation-adjusted capital appreciation potential and secondarily, current income.
• Broadly diversified, with the ability to invest in international markets, inflation-hedging assets and alternatives.
• Rigorous risk management and access to a wide range of Allianz Global Investors funds within a single portfolio.

A Comprehensive Solution

Allianz Global Investors Solutions Growth Allocation Fund is a “fund of funds” that can enhance the growth potential of an existing portfolio. The Fund targets a strategic allocation of 100% of total assets to growth-oriented investments. However, its managers have some flexibility to diverge from this balance in order to actively manage risk during periods of market instability.

Emphasis on Diversifying Risk

During periods of severe market stress, asset classes such as U.S. and international stocks tend to be highly correlated (i.e., move closely in tandem), making them less effective diversification tools. The Growth Allocation Fund seeks to moderate overall portfolio volatility by diversifying risks rather than asset classes. It does this by considering assets in terms of two distinct risk categories: 1) return-generating assets that emphasize real (inflation-adjusted) wealth accumulation, and 2) defensive assets designed to preserve principal and provide real income. Because the Fund targets a 100% allocation to return-generating, however, it will be riskier than a fund with a higher targeted allocation to defensive assets. That said, the Fund’s managers may invest up to 30% of assets in defensive investments, as needed.

Broader Investment Universe

Unlike many traditional allocation funds that invest largely in U.S. stocks and bond funds, the Growth Allocation Fund extends its universe to include a range of other assets. These include funds investing in: international and emerging markets investments; real return (inflation-hedging) assets such as commodities and real estate; and alternative assets such as listed private equity and infrastructure. These are drawn largely from the extensive range of Allianz and PIMCO mutual funds, and a portion may be drawn from selective third-party exchange-traded funds (ETFs) and other mutual funds and pooled vehicles.

Pre-eminent Global Asset Management

Allianz Global Investors Solutions, a registered investment advisor, serves as the sub-advisor for the Growth Allocation Fund. The underlying mutual funds provide access to the expertise of the Allianz Global Investors investment firms—PIMCO, NFJ Investment Group, RCM, Nicholas-Applegate Capital Management, Oppenheimer Capital and Cadence Capital Management¹—which are among the most established and forward-looking in the industry. Each firm maintains its own distinctive investment culture and philosophy, providing investors with convenient access to a breadth of proven strategies, styles and approaches. Allianz Global Investors’ investment firms have more than $1 trillion in assets under management for our clients worldwide.²

1 Cadence Capital Management is an independently-owned investment firm.

2 Allianz Global Investors AG assets under management as of December 31, 2008.

In building and maintaining the portfolio, the Fund’s managers take a multi-step, research-based approach that carefully balances risk/return considerations.

• Assets are divided into two distinct categories: return-generating assets, which include riskier strategies with greater long-term growth potential; and defensive assets, which are meant to manage short-term volatility, provide income and preserve capital. Both groupings seek to meet their objectives on an inflation-adjusted basis.
• The Fund maintains a strategic (long-term) allocation target of 100% of assets in return-generating assets. However, the Fund’s managers may add value by making tactical, or opportunistic, allocations to defensive assets where market conditions warrant.
• Lastly, the Fund’s managers select individual funds that most appropriately correspond to the portfolio’s asset class allocation.

Mr. Pietranico, CFA, has been the director of investment manager due diligence, risk analysis and performance reporting teams for Allianz Global Investors. He holds a BS in physics, an MA in philosophy of science and an MS in engineering economics, all from Stanford University.

Mr. Sexauer has been a managing director for Allianz Global Investors and a portfolio manager at Nicholas-Applegate Capital Management. He earned an MBA from the University of Chicago and a BS from the University of Illinois.

San Diego, CA

Allianz Global Investors Solutions, a U.S.-registered investment advisor, provides solution-oriented investment strategies, with portfolios designed and managed to meet the specific and complex needs of its clients.