Fund Description

The fund was incepted in December 1996 and is managed by PIMCO Advisors Fund Management LLC. The fund seeks long-term capital appreciation. The fund normally invests at least 80% of its assets in companies with market capitalizations comparable to those of companies included in the MSCI World Small-Cap Index. Under normal market conditions, the fund invests not more than 25% of its assets in issuers that are organized or headquartered in any one country outside the U.S., other than France, Germany, Japan and the United Kingdom. The fund may invest 30% of its assets in companies organized or headquartered in emerging market countries. The fund may also from time to time invest a significant percentage of its assets in the technology sector. The fund distributes its dividends and capital gains, if any, at least annually.