The daily section presents performance dating from the inception of the actual share class only.

**This is the inception date of the oldest share classes, which for this Fund are the A, C, D and Institutional share classes. The returns presented are for Class A shares, and measure performance from the inception of the oldest share classes to the present. Total return performance assumes that all dividend and capital gains distributions were reinvested on the payable date and does not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.

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 securities generally involve a greater risk to principal than investment grade securities. 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. 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"). 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 by qualified institutional buyers. The Fund may utilize foreign currency exchange contracts, options, stock index futures contracts and other derivative instruments. 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 Barclays Capital Aggregate Bond Index is composed of securities from the Barclays Capital Government/Credit Bond Index, Mortgage-Backed Securities Index, and Asset-Backed Securities Index. It is generally considered to be representative of the domestic, investment-grade, fixed-rate, taxable bond market. The Standard & Poor's 500 Composite Index (S&P 500) is an unmanaged index that is generally representative of the U.S. stock market. 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.

Growth of $10,000 and Best/Worst 1-Year Period results are calculated at NAV and assume that all dividend and capital gain distributions were reinvested. They do not take into account sales charges or the effect of taxes. Results are not indicative of future performance.

SEC holder

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. NOT FDIC INSURED / MAY LOSE VALUE / NO BANK GUARANTEE

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