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ALLIANZ FUNDS PROFILE 
All data as of 05.31.09, unless otherwise indicated. 
Allianz NACM Income and Growth Fund A (AZNAX)
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About this Fund Performance Portfolio Review & Outlook Literature
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Fund Overview
Highlights
  • Through investments in convertible securities, equities and high yield securities, the Fund seeks to generate current income while offering investors exposure to the attractive upside potential of equities. The allocation of the Fund’s investments across these asset classes will vary, sometimes substantially, based on the managers’ assessment of market conditions and other factors.
  • The Fund expects to write (sell) call options on individual stocks held in the portfolio, with respect to approximately 70% of the value of each position to generate gains from options premiums in an effort to enhance distributions payable to shareholders and reduce overall portfolio risk.
  • Nicholas-Applegate Capital Management, the Fund's sub-adviser, has broad expertise investing in convertible securities, high yield debt securities, and equities.
Investment Process
  • The Fund's investment process starts with bottom-up credit and company-specific analysis. The management team seeks to identify companies exhibiting signs of positive change, sustainable growth and timely market recognition.
  • The convertible strategy seeks to identify securities offering exposure to 70%-80% of the upside participation in the underlying equity with less than 50% of the downside risk.
  • Within the equity portion, the fund may invest in securities of companies with any size market capitalization, but ordinarily expects to focus its common stock investments in companies with market capitalizations of $3 billion or more that are exhibiting strong earnings growth
  • Within the high yield component, Nicholas-Applegate has developed an Upgrade Alert Model for evaluating credit upgrades, which looks at the historical strength of a company's balance sheet, income statement and cash flow.
At A Glance
Symbol Lookup
 
Symbol
CUSIP
A Shares
AZNAX
018920496
Objective
Seeks total return comprised of current income, current gains and capital appreciation

Primary Portfolio
Combination of common stocks and other equity securities, debt securities and convertible securities

Total Fund Assets (in millions)
$36.6

Inception Date
Feb 28, 2007

Dividend Frequency
Monthly

Maximum Sales Charge
5.50%

Net Expense Ratio
1.310%

Gross Expense Ratio
-

> Share Class Pricing

Manager
Douglas Forsyth

Douglas Forsyth, C.F.A., is a Managing Director, Senior Portfolio Manager and a member of NACM's Executive Committee. He earned his B.B.A. in finance at The University of Iowa and has seventeen years of investment industry experience.

Manager
Justin Kass

Mr. Kass, Managing Director, joined Nicholas-Applegate in 2000 with responsibilities for portfolio management and research on the firm's U.S. High Yield Bond/Convertibles team. Mr. Kass earned his M.B.A. in finance from The UCLA Anderson School of Management and his B.S. from the University of California, Davis.

Manager
Michael E. Yee

Mr. Yee is a Senior Vice President and Portfolio Manager at Nicholas-Applegate, which he joined in 1995. He is a member of the firm's U.S. High Yield Bond/Convertibles team. Mr. Yee holds a B.S. from the University of California, San Diego, and an M.B.A. from San Diego State University.

Management Firm
Nicholas-Applegate Capital Management LLC (NACM)

San Diego, California

Nicholas-Applegate believes that investing in companies undergoing positive change with sustainable characteristics and timely market recognition will result in outstanding investment performance. This investment approach is supported by a foundation of academic research in behavioral finance indicating that investors react inefficiently to changing information. This market inefficiency presents mispricing opportunities that the firm capitalizes on to earn excess return.



> Management Commentary

Investors should consider the investment objectives, risks, charges and expenses of this Fund carefully before investing. This and other information is contained in the Fund´s prospectus, which may be obtained by contacting your financial advisor, or by calling 888-877-4626. Click here for the Fund´s prospectus. Please read this prospectus carefully before you invest or send money.

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. 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. Earnings growth is the percentage increase or decrease from the prior period's earnings.

 

The Fund will normally invest in equity, debt and convertible securities. It is expected that substantially all of the Fund's debt securities and a substantial portion of its convertible securities will consist of securities rated below investment grade. Below investment grade bonds generally involve a greater risk to principal than investment grade bonds. The Fund may invest a portion of its assets in non-U.S. securities, including emerging markets securities. 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. Investing in convertible securities may entail risk. The 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.

The Fund also expects to employ a strategy of writing (selling) call options on the stocks held in its portfolio up to approximately 70% of the value of each position (the “Option Strategy”). Use of derivative 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. The Option Strategy is designed to generate gains from options premiums in an attempt to enhance the Fund's distributions payable to the Fund's shareholders and to reduce overall portfolio risk. The Fund may invest a significant portion of its assets in securities that have not been registered for public sale, but that are eligible for purchase and sale pursuant to Rule 144A under the Securities Act of 1933. The Fund may utilize foreign currency exchange contracts, options, stock index futures contracts and other derivative instruments.

 

© 2007 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
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