AllianzGI China Equity Fund A (ALQAX)

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.

Performance assumes reinvestment of dividends and capital gains distributions. Taxes on distributions or redemptions have not been deducted. 

A Word About Risk: Investing in a limited number of issuers or sectors may increase risk and volatility. Foreign markets may be more volatile, less liquid, less transparentand subject to less oversight, and values may fluctuate with currency exchange rates; these risks may be greater in emerging markets. Derivative prices depend on theperformance of an underlying asset; derivatives carry market, credit and liquidity risk.

The MSCI China Index represents equity securities issued by companies incorporated in the People’s Republic of China (PRC), and listed in the form of B shares on the Shanghai Stock Exchange (inUS$) or Shenzhen Stock Exchange (in HK$), H shares on the Hong Kong Stock Exchange (in HK$) or N-shares on the New York Stock Exchange (in US$). The MSCI China universe also includescompanies not incorporated in the PRC or the Hong Kong Special Administrative Regions, however the company is listed on the Hong Kong Stock Exchange; and the company’s major shareholders(directly or indirectly) are any of the following: organizations or enterprises owned by the state, provinces or municipalities of the PRC; companies incorporated in the PRC; or PRC individuals. Prior to11/1/06, 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 recalculationresults in lower performance for the Index. Unless otherwise noted, index returns reflect the reinvestment of income dividends and capital gains, if any, but do not reflect fees, brokerage commissionsor 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 and Best/Worst 1-Year Period results are calculated at NAV and assume that all dividend and capital gain distributions were reinvested. They do not take into account sales charges or the effect of taxes. Results are not indicative of future performance.