AllianzGI Emerging Markets Opportunities Fund A (AOTAX)

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

* This is the inception date of a predecessor fund, which was reorganized into the Fund on 8/18/06. The returns presented are for A shares of the Fund, which were first offered on 8/19/06. The returns for the period prior to the reorganization are based on the historical performance of the predecessor fund’s Institutional shares, adjusted toreflect the Fund’s A shares’ different charges and expenses. Performance assumes reinvestment of dividends and capitalgains distributions. Taxes on distributions or redemptions have not been deducted. 

A Word About Risk: Foreign markets may be more volatile, less liquid, less transparent and subject to less oversight, and values may fluctuate with currency exchange rates;these risks may be greater in emerging markets. Investments in smaller companies may be more volatile and less liquid than investments in larger companies. Derivativeprices depend on the performance of an underlying asset; derivatives carry market, credit and liquidity risk.

The MSCI Emerging Markets Index is a free float-adjusted market capitalization index that is designed to measure equity market performance in the global emerging markets. It is not possible to invest directly in an index. Prior to November 1, 2006, performance data for the MSCI Index was calculated gross of dividend tax withholding. Performance data presently shown for the Index is net of dividend tax withholding. This recalculation results in lower performance for the 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.

Allianz Funds are distributed by Allianz Global Investors Distributors LLC, 1633 Broadway, New York, NY 10019-7585, www.allianzinvestors.com, 1-800-926-4456.

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