The daily section presents performance dating from the inception of the actual share class only. Performance assumes reinvestment of any dividend and capital gain distributions, but does not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Index performance comparison begins on 7/31/08.

The Fund's investments in non-U.S. securities may be subject to more rapid and extreme changes in value. Non-US markets may be subject to greater political risks of instability and currency fluctuations. Emerging markets may involve these risks to a higher degree, and they may also be more speculative. The Fund's investments in smaller companies and IPOs may involve limited trading histories, and these securities can be highly volatile. The Fund may invest in derivative instruments. Derivatives may involve certain costs and risks such as liquidity risk, interest rate risk, market risk, credit risk, and management risk. Among derivatives, the Fund may engage in the sale of a security which it does not own in the hope of purchasing the same security at a later date at a lower price (a short sale). If the price of a security in a short sale has increased during that time, a loss may be incurred related to the increase in price and any interest or premium paid. Derivatives investments can lose more than the principal amount invested.

The Morgan Stanley Capital International All Country World Free Index (MSCI ACWI) is a widely recognized, unmanaged index of issuers located in countries throughout the world, representing both developed and emerging markets. Unless otherwise noted, index returns reflect the reinvestment of income dividends and capital gains, if any, but do not reflect fees, brokerage commissions or other expenses of investing. It is not possible to invest directly in an index.

^The Lipper Category returns and rankings are calculated by Lipper Inc., a Reuters Company, which is a nationally recognized organization that compares the performance of mutual funds with similar investment objectives. The Category returns represent the average performance of included funds. They are based on total return performance, with capital gains and dividends reinvested, with annual operating expenses deducted, but without including front- or back-end sales charges.

Growth of $10,000 is calculated at NAV and assumes that all dividend and capital gain distributions were reinvested. It does not take into account sales charges or the effect of taxes. Results are not indicative of future performance.

The performance number from the year of the Fund's inception is the cumulative return over a partial year.

PIMCO Funds & Allianz Funds are distributed by Allianz Global Investors Distributors LLC, 1345 Avenue of the Americas, New York, NY 10105-4800, www.allianzinvestors.com, 1-888-877-4626. Investment Products: NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED