• An all-cap global equity Fund managed by an experienced team that leverages RCM’s global dual research platform to find the best investment ideas; the team can supplement RCM’s proprietary research with additional resources
• A concentrated portfolio of 20-45 stocks, which helps the managers pursue capital appreciation from the most attractive opportunities
• A broad investment universe that is not constrained by benchmark targets, market capitalization, geography, sector allocation or investment style
• To increase the manager's flexibility, the Fund can invest without limit in emerging markets and can hold a substantial portion of its assets in cash or cash equivalents.

In today’s global economy, a company’s success depends less on where it’s located than the goods, services and ideas it can produce for a worldwide clientele. Investing in Allianz RCM All Horizons Fund as a complement to your core domestic holdings can help you participate in the broad opportunity set provided by a global portfolio—and in the best investment ideas of RCM, a truly global asset manager.

A Broad Opportunity Set

• The Fund’s experienced management team has the flexibility to pursue a wide range of global equity investment opportunities. The portfolio managers are not constrained by style factors, and do not intend to pursue specific benchmark-constrained capital growth or income targets. Moreover, the portfolio managers select investments on a “bottom-up” basis from within the global universe, irrespective of market capitalization, geography, sector allocation or investment style.
• The Fund has the ability to deploy investment ideas generated by the full breadth of investments available from RCM. But this Fund also pursues additional opportunities such as small- or mid-cap stocks, IPOs, high-dividend-paying stocks and stocks of companies undergoing significant corporate actions, such as mergers or acquisitions.
• The Fund can hold a substantial portion of its assets in cash or cash equivalents, if the management team can't identify investment opportunities with an appropriate ratio of upside return potential to downside risk at specific times.

RCM Is an Experienced, Informed Manager

• RCM places a unique emphasis on global information and information flow. By generating and capitalizing on this “information advantage,” RCM seeks to deliver superior and consistent investment results for the Fund’s shareholders.
• RCM is a truly global firm. In lieu of a central headquarters, their offices are strategically located in key financial centers around the world—including San Francisco, London, Frankfurt, Hong Kong, Sydney and Tokyo.
• RCM uses a distinctive dual research platform—consisting of their sector-based fundamental global research platform and unique Grassroots^SM Research division—to provide deep, bottom-up insight into a company’s fundamentals from a country, regional and global perspective.

Please note that the Fund’s investments in non-U.S. securities may be subject to more rapid and extreme changes in value. Non-U.S. 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.

RCM's equity investment philosophy is to use fundamental research to identify high-quality companies with strong growth prospects and attractive valuations. This philosophy is implemented through the Fund's disciplined investment process, which begins with a global investment universe of approximately 1,000 stocks. RCM's in-house team of sector-based career analysts-who are organized on a global basis and develop a depth of knowledge about their chosen sectors-analyze the growth, quality and valuation characteristics of these stocks. Their efforts are supported by RCM's Grassroots^SM division, which leverages thousands of industry contacts and conducts regular market surveys on all continents to further hone RCM's information advantage. This universe is then divided into three categories: buy, neutral and sell. The Fund's dedicated team of portfolio managers takes a closer look at the approximately 350 stocks in the buy category, reviewing the research team's stock rankings, the companies' relative valuations, the researchers' analysis of the stocks' potential upside and downside, and the potential for changes in earnings outlook. At this stage, the management team also pursues additional opportunities, focusing on supplemental ideas such as small- or mid-cap stocks, IPOs, high-dividend-paying stocks and stocks of companies undergoing significant corporate actions, such as mergers or acquisitions. A concentrated portfolio of approximately 20-45 stocks representing the best available investment opportunities is then constructed and reviewed, with no single position representing more than 5% of the portfolio. To the extent that the management team believes holding cash may represent a superior alternative to the return potential of new equity opportunities, the Fund can hold a substantial portion of its assets in cash or cash equivalents. On an ongoing basis, RCM's Risk and Performance Measurement Department monitors the portfolio to make sure that overall risks are in line with the Fund's objectives.

Lucy MacDonald is Chief Investment Officer of RCM's Global Equities team. She began her investment career in 1987 and is an Associate of the Society of Investment Professionals (ASIP).

Fund Manager within the Global Equity Team at Allianz Global Investors Advisory GmBH (AGIA) and RCM (U.K.). Mr. Schofield joined AGIA in 2006 and RCM (U.K.) in 1998 as a member of the Institutional Client Services team before transferring to the firm's Global Equity fund management team. He holds a B.A. (Hons.) in Financial Services from the University of Portsmouth.

San Francisco, California

RCM is a truly global asset manager and a company of Allianz Global Investors. The firm operates across three continents and five time zones from six international offices- San Francisco, London, Frankfurt, Hong Kong, Tokyo and Sydney. RCM's range of investment solutions spans the market cap and style spectrum and reaches from regional and global strategies to multi-asset and structured products.