AllianzGI Focused Growth Fund A (PGWAX)

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

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

*The inception date for the oldest class of shares (the C share class). The returns represent Class A shares, first offered in 10/90. Returns prior to this date apply the returns ofthe oldest class of shares but the charges and expenses of Class A shares. Performance assumes reinvestmentof dividends and capital gains distributions. Taxes on distributions or redemptions have not been deducted. 

A Word About Risk:Equities have tended to be volatile, and do not offer a fixed rate of return. 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. Investing in a small number of issuers mayincrease risk and volatility. Derivative prices depend on the performance of an underlying asset; derivatives carry market, credit and liquidity risk..

The Russell 1000 Growth Index is an unmanaged index that measures the performance of companies in the Russell 1000 Index considered to have a greater than average growth orientation. TheRussell 1000 Index is an unmanaged index that consists of the 1,000 largest companies in the Russell 3000 Index and represents approximately 90% of the total market capitalization of the Russell3000 Index. Unless otherwise noted, index returns reflect the reinvestment of income dividends and capital gains, if any, but do not reflect fees, brokerage commissions or other expenses of investing.It is not possible to invest directly in an 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.