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

The Fund's investment approach may lead to concentrated exposure in areas of the bond market that entail greater risks. For example, the Fund may invest up to 40% of its total assets in below-investment-grade securities, which carry a higher degree of credit risk, and may be speculative and more volatile. The Fund may also invest without limitation in securities denominated in foreign currencies, in U.S. dollar-denominated securities of foreign issuers, and emerging markets securities. These non-U.S. investments entail specialized risks such as political and economic risks and the risk of currency fluctuations. The Fund may also invest all of its assets in derivative instruments, such as options, futures contracts or swap agreements. The Fund may use derivative instruments. Use of these 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. Income from the Fund may be subject to federal and state income taxes.

After-tax returns are calculated using the highest historical individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor's tax situation and may differ from those shown. The after-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements such as IRAs. In some cases the returns after taxes may exceed the returns before taxes due to an assumed tax benefit from any losses on a sale of fund shares at the end of the measurement period.

The 3 Month London Interbank Offered Rate (LIBOR) represents the interest rate offered by a group of London banks to the most creditworthy international banks on deposits of a stated 3-month maturity; it is often used as the base index for setting rates on variable-rate loans. The highest current federal tax rate of 35% is applied to the returns.

^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