Growth Of $10,000 (hypothetical)

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Formerly known as Allianz NFJ Emerging Markets Value Fund.

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 and summary prospectus,  which may be obtained by contacting your financial advisor. Click here for a complete list of the Allianz Funds prospectuses and summary prospectuses. Please read them carefully before you invest.

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: 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. A security in the portfolio may not perform as anticipated if the market does not agree with the portfolio manager’s value assessment. Investments in smaller companies may be more volatile and less liquid than investments in larger companies.

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.

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 Global Investors Distributors LLC, 1633 Broadway, New York NY, 10019-7585, us.allianzgi.com. 1-800-926-4456 .