If you prefer to construct your own asset allocation, or supplement other options, you may select the following multi-asset fund:
Allianz AGIC Income & Growth Fund
Investment Objective and Principal Strategies. The Fund seeks total return comprised of current income, current gains and capital appreciation. The Fund seeks to achieve its objective by investing primarily in a combination of common stocks and other equity securities, debt securities and convertible securities. The allocation of the Fund’s investments across asset classes will vary substantially from time to time. The Fund’s investments in each asset class are based upon the portfolio managers’ assessment of economic conditions and market factors, including equity price levels, interest rate levels and their anticipated direction. The portfolio managers will select common stocks by utilizing a fundamental, bottom-up research process intended to identify issuers whose financial fundamentals are expected to improve, and will select convertible or debt securities using a credit analysis that focuses on income producing characteristics. It is expected that a substantial portion of the Fund’s investments in debt securities and convertible securities will be rated below investment grade or unrated and determined to be of similar quality (“high-yield securities” or “junk bonds”). The Fund may invest in issuers of any market capitalization (with a focus on $3 billion and above) and may invest a portion of its assets in non-U.S. securities (including emerging market securities). Normally the Fund will employ a strategy of writing (selling) call options on the common stocks it holds; such strategy is intended to enhance Fund distributions and reduce overall portfolio risk, though there is no assurance that it will succeed. In addition to equity securities (such as preferred stocks and warrants), the Fund may invest in unregistered securities and may utilize foreign currency exchange contracts, options, stock index futures contracts and other derivative instruments. Effective August 25, 2010, the Fund changed its name from “Allianz NACM Income & Growth Fund” in connection with the Fund’s previous sub-adviser, Nicholas-Applegate Capital Management LLC, transferring its advisory business to the Fund’s current sub-adviser.
Principal Risks. Among the principal risks of investing in the Fund, which could adversely affect its net asset value, yield and total return, are management risk, issuer risk, market risk, equity securities risk, smaller company risk, derivatives risk, high yield risk, convertible securities risk, interest rate risk, credit risk, focused investment risk, leveraging risk, liquidity risk, Non-U.S. investment risk, emerging markets risk, currency risk and turnover risk.
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