Oppenheimer Capital's Colin Glinsman appeared on PBS-TV's Consuelo Mack's WealthTrack on November 2, 2007.
Mr. Glinsman discussed the housing market and consumer spending. According to Glinsman, the subprime crisis will keep going, causing the consumer to pull back.
Investors should consider the investment objectives, risks, charges and expenses of any mutual fund carefully before investing. This and other information is contained in the fund´s prospectus, which may be obtained by contacting your financial advisor. Click here for a complete list of the PIMCO Funds and Allianz Funds prospectuses. Please read the 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 speakers, 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.
The Allianz OCC Value Fund may invest in value securities and in non-U.S. securities. Investing in non-U.S. securities may entail risk due to foreign economic and political developments; this risk may be enhanced when investing in emerging markets. When investing in value securities, the market may not necessarily have the same value assessment as the manager, and, therefore, the performance of the securities may decline.R[44]C The Fund expects to invest in a relatively small number of issuers, which may increase volatility compared to a more broadly diversified fund. This Fund may use derivative instruments for hedging purposes or as part of its investment strategy. 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.
As of September 30, 2007, Countrywide Financial Corp., MBIA Inc., Bank of New York Mellon, and JP Morgan Chase and Co. represented 3.46%, 4.15%, 4.37% and 4.60%, respectively, of the Allianz OCC Value Fund.
The target federal funds rate is the interest rate published by the Federal Open-Market Committee (FOMC) of the Federal Reserve Board as a target for overnight, inter-bank loans. The rate is a leading economic indicator of interest rate movements and Federal Reserve monetary policies. Gross Domestic Product (GDP) is the value of all final goods and services produced in a specific country. It is the broadest measure of economic activity and the principal indicator of economic performance.
The NASDAQ Composite Index is a market-value-weighted, technology-oriented index composed of approximately 5,000 domestic and foreign securities. It is not possible to invest directly in an index.
Investments in commodities may be affected by overall market movements, changes in interest rates, and other factors such as weather, disease, embargoes and international economic and political developments. An investment in commodities may not be suitable for all investors.
Each sector of the bond market entails risk. In an environment where interest rates may trend upward, rising rates will negatively impact most bond funds, and fixed income securities held by a fund are likely to decrease in value. Income from municipal bonds may be subject to the alternative minimum tax, as well as state and local taxes. U.S. Government bonds and Treasury bills are guaranteed by the U.S. Government and, if held to maturity, offer a fixed rate of return and fixed principal value.
Equity portfolios are subject to the basic stock market risk that a particular security, or securities in general, may decrease in value. Growth securities typically trade at higher multiples of current earnings than other securities. Therefore, the value of growth securities may be more sensitive to changes in current or expected earnings than the value of other securities.
Diversification does not assure a profit or protect against loss.
Tom Gallagher and Richard Bernstein, and their respective firms ISI Group and Merrill Lynch are not affiliated with Allianz Global Investors Distributors LLC.
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
