AllianzGI NFJ International Value Fund A (AFJAX)

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

*The inception date for the oldest class of shares (the Institutional share class). The returns represent Class A shares, first offered in 4/05. Returns prior to this date apply thereturns of the oldest class of shares but the charges and expenses of Class A shares. Performance assumes reinvestment of dividends and capital gains distributions. Taxes ondistributions or redemptions have not been deducted. 

A Word About Risk: Dividend-paying stocks are not guaranteed to continue to pay dividends. Foreign markets may be more volatile, less liquid, less transparent, and subjectto less oversight, and values may fluctuate with currency exchange rates; these risks may be greater in emerging markets. A security in the portfolio may not perform asanticipated if the market does not agree with the portfolio manager’s value assessment. Investments in smaller companies may be more volatile and less liquid thaninvestments in larger companies.

The MSCI Country World ex-US Index (MSCI ACWI ex-US) is a market capitalization weighted index composed of approximately 2000 companies. It is representative of the market structure of 21 developed countries in North America, Europe, and the Pacific Rim, and excludes securities of United States issuers. 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.

Average Distribution Yield. This yield is the average of the last four quarterly distribution yields. The quarterly distribution yield is calculated by annualizing the quarter'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.

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