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, B, C and Institutional share classes. The returns presented are for D 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 PIMCO RealEstateRealReturn Strategy Fund may invest substantially all of its assets in real estate-linked derivatives backed by a portfolio of inflation indexed bonds and other fixed income securities. The Fund may invest 10% in high yield securities and may invest in foreign securities with up to 30% of its assets in securities denominated in foreign currencies. Inflation-indexed bonds issued by the U.S. Government, known as TIPS, are fixed-income securities whose principal value is periodically adjusted according to the rate of inflation, which will affect the interest payable on them. Repayment upon maturity of the adjusted principal value is guaranteed by the U.S. Government. Neither the current market value of inflation-indexed bonds nor the share value of a fund that invests in them is guaranteed, and either or both may fluctuate. The 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 those instruments. The value of real estate and the funds that invest in real estate may fluctuate due to losses from casualty or condemnation, changes in local and general economic conditions, environmental conditions, supply and demand, interest rates, property tax rates, regulatory limitations on rents, zoning laws and operating expenses. The Fund may also invest directly in real estate investment trusts (REIT), common and preferred stocks, convertible securities of issuers in real estate-related industries, and in foreign securities. REITs and the portfolios that invest in them are subject to risk, such as poor performance by the manager of the REIT, adverse changes to the tax laws or failure by the REIT to qualify for tax-free pass-through of income under the Code. In addition, some REITs have limited diversification because they invest in a limited number of properties, a narrow geographic area, or a single type of property. Also, the organizational documents of a REIT may contain provisions that make changes in control of the REIT difficult and time-consuming. The Funds that invest in convertibles may have to convert before they would otherwise, which may have an adverse effect on the Fund's ability to achieve its investment objective. Investing in foreign securities may entail risk due to foreign economic and political developments; this risk may be enhanced when investing in emerging markets.

The Wilshire REIT Index measures publicly traded Real Estate Investment Trusts in the U.S. It is a subset of the Wilshire Real Estate Securities Index (WRESI). Companies included in the index must derive at least 75% of total revenue from the ownership and operation of real estate assets and have real estate assets of at least $100 million, as well as a market capitalization of at least $100 million. 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, while rankings compare an individual fund's returns to those of the other funds in its category. Both 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. Rankings begin with the actual share class inception. Rankings are relative to a peer group and do not necessarily mean that the fund had high total returns.

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.

^^ This yield is calculated by annualizing the current month's distribution and dividing by the NAV on the last business day of the period. It does not include long- or short-term capital gains distributions. The SEC Yield is a standardized annual yield based on the most recent 30-day period. It is calculated in accordance with current Securities and Exchange Commission regulations and is subject to change.

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

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