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Important Information About Mutual Funds Capital Gains and Dividends
Distributions Mutual funds realize gains and losses throughout the year as
securities in the portfolio are bought or sold at a gain or loss. The fund is
required by law to distribute net gains from such transactions to shareholders
before the end of the year. Dividend distributions will vary on a per share
basis based upon expenses of the underlying share class. The Fund's net asset
value (NAV) drops in direct relationship to the distribution paid, plus or
minus market movement.
For example, if a Fund has a $10.00 NAV and pays a 25 cent distribution, the
stated NAV will be $9.75 if there is no market movement. (Any market movement
would be added or subtracted to the $9.75 NAV.) Because the Shareholder will
either receive more shares of the fund (reinvestment) or take the distribution
in cash, the value of the shareholder's account has not changed. In our
example, it is still $10.00/share ($9.75/share NAV plus $0.25/share in cash or
additional shares).
For additional information, please contact Shareholder Services at
949-720-4706. For specific tax advice, consult your professional tax advisor.
Distributed by Allianz Global Investors Distributors LLC, 840
Newport Center Drive, Newport Beach, CA 92660.
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