On September 13, 2004, the Securities and Exchange Commission ("SEC") approved a settlement of an administrative proceeding against PA Fund Management LLC (f/k/a PIMCO Advisors Fund Management LLC), (n/k/a Allianz Global Investors Fund Management LLC), PEA Capital LLC (f/k/a PIMCO Equity Advisors LLC) and PA Distributors LLC (f/k/a PIMCO Advisors Distributors LLC), (n/k/a Allianz Global Investors Distributors LLC) (collectively "the Allianz Parties") regarding market timing activity in certain Allianz Funds and established a fair fund, the Allianz Fair Fund.
Based on the Final Plan of Distribution developed by the Independent Distribution Consultant ("IDC") and approved by the SEC, the IDC calculated losses incurred as a result of the market timing subject to the SEC Order and developed a plan for distributing payment from the Allianz Fair Fund to eligible shareholders.
To be eligible for the distribution, investors must have owned shares of one or more of the 4 Allianz mutual funds listed below during the affected time period.
||Affected Time Period
|The Allianz AGIC Growth Fund, a Series of Allianz Funds (f/k/a PEA Growth Fund, PIMCO PEA Growth Fund, or PIMCO Growth Fund, a Series of PIMCO Funds: Multi-Manager Series)
||4/11/02 - 11/21/02
|The Allianz AGIC Target Fund, a Series of Allianz FUNDS (f/k/a PEA Target Fund, PIMCO PEA Target Fund, or PIMCO Target Fund, a Series of PIMCO Funds: Multi-Manager Series)
||2/08/02 - 11/21/02
|The Allianz AGIC Opportunity Fund, a Series of Allianz Funds (f/k/a PEA Opportunity Fund, PIMCO PEA Opportunity Fund, or PIMCO Opportunity Fund, a Series of PIMCO Funds: Multi-Manager Series
||4/11/02 - 4/03/03
|The Allianz RCM Technology Fund, a Series of Allianz Funds (f/k/a PEA Innovation Fund, PIMCO PEA Innovation Fund, or PIMCO Innovation Fund, a Series of PIMCO Funds: Multi-Manager Series)
||2/08/02 - 2/21/02
The IDC has established a de minimis distribution amount of $10. To the extent that a shareholder's net losses plus return of fees are less than $10, the losses and fees returned to the shareholder will be $10.