-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 TSqBkO0IQWTYW1mykR7ldn4+cJAx9c3DFzDpC/nAk/+ImXF2mwZ4kS/06Yg/Yndp
 VnB+vG+h/wRw2S0BMT5DdA==

<SEC-DOCUMENT>0000950123-08-013395.txt : 20081024
<SEC-HEADER>0000950123-08-013395.hdr.sgml : 20081024
<ACCEPTANCE-DATETIME>20081024111735
ACCESSION NUMBER:		0000950123-08-013395
CONFORMED SUBMISSION TYPE:	40-17G
PUBLIC DOCUMENT COUNT:		9
FILED AS OF DATE:		20081024
DATE AS OF CHANGE:		20081024
EFFECTIVENESS DATE:		20081024

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PIMCO CALIFORNIA MUNICIPAL INCOME FUND II
		CENTRAL INDEX KEY:			0001170300
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			0430

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-21077
		FILM NUMBER:		081138840

	BUSINESS ADDRESS:	
		STREET 1:		1345 AVENUE OF THE AMERICAS, 47TH FL
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PIMCO MUNICIPAL INCOME FUND II
		CENTRAL INDEX KEY:			0001170299
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			0430

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-21076
		FILM NUMBER:		081138841

	BUSINESS ADDRESS:	
		STREET 1:		1345 AVENUE OF THE AMERICAS, 47TH FL
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PIMCO NEW YORK MUNICIPAL INCOME FUND II
		CENTRAL INDEX KEY:			0001170311
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			0430

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-21078
		FILM NUMBER:		081138839

	BUSINESS ADDRESS:	
		STREET 1:		1345 AVENUE OF THE AMERICAS, 47TH FL
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NICHOLAS APPLEGATE CONVERTIBLE & INCOME FUND
		CENTRAL INDEX KEY:			0001214935
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			MA

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-21284
		FILM NUMBER:		081138833

	MAIL ADDRESS:	
		STREET 1:		1345 AVE OF THE AMERICAS
		STREET 2:		47TH FL
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NICHOLAS APPLEGATE CONVERTIBLE INCOME FUND
		DATE OF NAME CHANGE:	20030121

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PIMCO MUNICIPAL INCOME FUND
		CENTRAL INDEX KEY:			0001140392
		IRS NUMBER:				134174449
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			0430

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-10377
		FILM NUMBER:		081138844

	BUSINESS ADDRESS:	
		STREET 1:		1345 AVENUE OF THE AMERICAS, 47TH FL
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

	MAIL ADDRESS:	
		STREET 1:		ONE INTERNATIONAL PLACE
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02110

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PIMCO NEW YORK MUNICIPAL INCOME FUND
		CENTRAL INDEX KEY:			0001140410
		IRS NUMBER:				134174444
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			0430

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-10381
		FILM NUMBER:		081138842

	BUSINESS ADDRESS:	
		STREET 1:		1345 AVENUE OF THE AMERICAS, 47TH FL
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

	MAIL ADDRESS:	
		STREET 1:		ONE INTERNATIONAL PLACE
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02110

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PIMCO CALIFORNIA MUNICIPAL INCOME FUND
		CENTRAL INDEX KEY:			0001140411
		IRS NUMBER:				134174445
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			0430

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-10379
		FILM NUMBER:		081138843

	BUSINESS ADDRESS:	
		STREET 1:		1345 AVENUE OF THE AMERICAS, 47TH FL
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

	MAIL ADDRESS:	
		STREET 1:		ONE INTERNATIONAL PLACE
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02110

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NICHOLAS APPLEGATE CONVERTIBLE & INCOME FUND II
		CENTRAL INDEX KEY:			0001227857
		IRS NUMBER:				000000000

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-21338
		FILM NUMBER:		081138831

	BUSINESS ADDRESS:	
		STREET 1:		1345 AVENUE OF THE AMERICAS
		STREET 2:		47TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		212 739 3502

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PAFM NICHOLAS APPLEGATE NFJ CONVERTIBLE & INCOME FUND
		DATE OF NAME CHANGE:	20030417

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PIMCO CALIFORNIA MUNICIPAL INCOME FUND III
		CENTRAL INDEX KEY:			0001181504
		IRS NUMBER:				161624050
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-21188
		FILM NUMBER:		081138837

	BUSINESS ADDRESS:	
		STREET 1:		1345 AVENUE OF THE AMERICAS, 47TH FL
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		2127393502

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PIMCO NEW YORK MUNICIPAL INCOME FUND III
		CENTRAL INDEX KEY:			0001181505
		IRS NUMBER:				546504431
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-21189
		FILM NUMBER:		081138836

	BUSINESS ADDRESS:	
		STREET 1:		1345 AVENUE OF THE AMERICAS, 47TH FL
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		2127393502

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PIMCO MUNICIPAL INCOME FUND III
		CENTRAL INDEX KEY:			0001181506
		IRS NUMBER:				556145593
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-21187
		FILM NUMBER:		081138838

	BUSINESS ADDRESS:	
		STREET 1:		1345 AVENUE OF THE AMERICAS, 47TH FL
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		2127393502

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PIMCO CORPORATE INCOME FUND
		CENTRAL INDEX KEY:			0001160990
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-10555
		FILM NUMBER:		081138835

	BUSINESS ADDRESS:	
		STREET 1:		1345 AVE OF THE AMERICAS
		STREET 2:		47TH FL.
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		6179517018

	MAIL ADDRESS:	
		STREET 1:		1345 AVE OF THE AMERICAS
		STREET 2:		47TH FL.
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PIMCO MUNICIPAL ADVANTAGE FUND INC
		CENTRAL INDEX KEY:			0000897951
		IRS NUMBER:				133703018
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-07532
		FILM NUMBER:		081138846

	BUSINESS ADDRESS:	
		STREET 1:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		212 739 3000

	MAIL ADDRESS:	
		STREET 1:		1345 AVE. OF THE AMERICAS, 47TH FL
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MUNICIPAL ADVANTAGE FUND INC
		DATE OF NAME CHANGE:	19930714

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PCM FUND, INC.
		CENTRAL INDEX KEY:			0000908187
		IRS NUMBER:				521834031
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-07816
		FILM NUMBER:		081138822

	BUSINESS ADDRESS:	
		STREET 1:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		212 -739-3000

	MAIL ADDRESS:	
		STREET 1:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PIMCO COMMERCIAL MORTGAGE SECURITIES TRUST INC
		DATE OF NAME CHANGE:	19930624

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PIMCO CORPORATE OPPORTUNITY FUND
		CENTRAL INDEX KEY:			0001190935
		IRS NUMBER:				466121513

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-21238
		FILM NUMBER:		081138834

	BUSINESS ADDRESS:	
		STREET 1:		1345 AVE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		2127393371

	MAIL ADDRESS:	
		STREET 1:		C/O PIMCO ADVISORS ASSET MANAGEMENT
		STREET 2:		1345 AVE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PIMCO CORPORATE ADVANTAGE FUND
		DATE OF NAME CHANGE:	20020919

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FIXED INCOME SHARES
		CENTRAL INDEX KEY:			0001098605
		IRS NUMBER:				066484967
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-09721
		FILM NUMBER:		081138845

	BUSINESS ADDRESS:	
		STREET 1:		C/O PIMCO ADVISORY SERVICES
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		2127393502

	MAIL ADDRESS:	
		STREET 1:		C/O PIMCO ADVISORY SERVICES
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PIMCO FIXED INCOME SHARES
		DATE OF NAME CHANGE:	19991109

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PIMCO STRATEGIC GLOBAL GOVERNMENT FUND INC
		CENTRAL INDEX KEY:			0000916183
		IRS NUMBER:				943194834
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			0131

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-08216
		FILM NUMBER:		081138821

	BUSINESS ADDRESS:	
		STREET 1:		1776 HERIATAGE DRIVE A4N
		CITY:			N QUINCY
		STATE:			MA
		ZIP:			02171
		BUSINESS PHONE:		9497204761

	MAIL ADDRESS:	
		STREET 1:		840 NEWPORT CENTER DRIVE
		CITY:			NEWPORT BEACH
		STATE:			CA
		ZIP:			92660

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	RCM STRATEGIC GLOBAL GOVERNMENT FUND INC
		DATE OF NAME CHANGE:	19931214

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PIMCO HIGH INCOME FUND
		CENTRAL INDEX KEY:			0001219360
		IRS NUMBER:				383676799
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-21311
		FILM NUMBER:		081138832

	BUSINESS ADDRESS:	
		STREET 1:		1345 AVENUE OF THE AMERICAS 47TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		212739 3502

	MAIL ADDRESS:	
		STREET 1:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PIMCO FLOATING RATE INCOME FUND
		CENTRAL INDEX KEY:			0001244183
		IRS NUMBER:				000000000

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-21374
		FILM NUMBER:		081138830

	BUSINESS ADDRESS:	
		STREET 1:		1345 AVENUE OF THE AMERICAS 47TH FL
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		2127393502

	MAIL ADDRESS:	
		STREET 1:		1345 AVENUE OF THE AMERICAS 47TH FL
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NFJ DIVIDEND, INTEREST & PREMIUM STRATEGY FUND
		CENTRAL INDEX KEY:			0001260563
		STANDARD INDUSTRIAL CLASSIFICATION:	LOAN BROKERS [6163]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			MA

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-21417
		FILM NUMBER:		081138828

	BUSINESS ADDRESS:	
		STREET 1:		1345 AVENUE OF THE AMERICAS
		STREET 2:		47TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		2127393502

	MAIL ADDRESS:	
		STREET 1:		1345 AVENUE OF THE AMERICAS
		STREET 2:		47TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NFJ DIVIDEND, INTEREST & PREMIUM EQUITY INCOME FUND
		DATE OF NAME CHANGE:	20050119

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PAFM/NFJ DIVIDEND & EQUITY INCOME FUND
		DATE OF NAME CHANGE:	20041220

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NFJ RCM GLOBAL DIVIDEND INCOME FUND
		DATE OF NAME CHANGE:	20040331

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PIMCO Floating Rate Strategy Fund
		CENTRAL INDEX KEY:			0001296250
		IRS NUMBER:				201619298
		FISCAL YEAR END:			0731

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-21601
		FILM NUMBER:		081138829

	BUSINESS ADDRESS:	
		STREET 1:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		212 739-3502

	MAIL ADDRESS:	
		STREET 1:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PIMCO Global StocksPLUS & Income Fund
		CENTRAL INDEX KEY:			0001318025
		IRS NUMBER:				202726382

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-21734
		FILM NUMBER:		081138826

	BUSINESS ADDRESS:	
		STREET 1:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		212 739-3371

	MAIL ADDRESS:	
		STREET 1:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PIMCO Global StocksPLUS Income Fund
		DATE OF NAME CHANGE:	20050321

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PIMCO International StocksPLUS Income Fund
		DATE OF NAME CHANGE:	20050216

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Nicholas-Applegate International & Premium Strategy Fund
		CENTRAL INDEX KEY:			0001319332
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			MA

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-21724
		FILM NUMBER:		081138827

	BUSINESS ADDRESS:	
		STREET 1:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		212-739-3371

	MAIL ADDRESS:	
		STREET 1:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PAFM NACM International & Premium Strategy Fund
		DATE OF NAME CHANGE:	20050301

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NACM International & Premium Strategy Fund
		DATE OF NAME CHANGE:	20050301

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Nicholas-Applegate Equity & Convertible Income Fund
		CENTRAL INDEX KEY:			0001383441
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-21989
		FILM NUMBER:		081138825

	BUSINESS ADDRESS:	
		STREET 1:		ONE INTERNATIONAL PLACE
		STREET 2:		C/O ROPES & GRAY LLP
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02110
		BUSINESS PHONE:		617-951-7000

	MAIL ADDRESS:	
		STREET 1:		ONE INTERNATIONAL PLACE
		STREET 2:		C/O ROPES & GRAY LLP
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02110

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Nicholas-Applegate Equity & Income Capture Fund
		DATE OF NAME CHANGE:	20061213

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Nicholas Applegate Global Equity & Convertible Income Fund
		CENTRAL INDEX KEY:			0001398481
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-22067
		FILM NUMBER:		081138824

	BUSINESS ADDRESS:	
		STREET 1:		ONE INTERNATIONAL PLACE
		STREET 2:		C/O ROPES & GRAY LLP
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02110
		BUSINESS PHONE:		617-951-7000

	MAIL ADDRESS:	
		STREET 1:		ONE INTERNATIONAL PLACE
		STREET 2:		C/O ROPES & GRAY LLP
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02110

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PIMCO Income Opportunity Fund
		CENTRAL INDEX KEY:			0001412350
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-22121
		FILM NUMBER:		081138823

	BUSINESS ADDRESS:	
		STREET 1:		C/O ROPES & GRAY LLP
		STREET 2:		ONE INTERNATIONAL PLACE
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02110
		BUSINESS PHONE:		617-951-7046

	MAIL ADDRESS:	
		STREET 1:		C/O ROPES & GRAY LLP
		STREET 2:		ONE INTERNATIONAL PLACE
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02110

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Allianz Funds Multi-Strategy Trust
		CENTRAL INDEX KEY:			0001423227
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			MA

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-22167
		FILM NUMBER:		081138820

	BUSINESS ADDRESS:	
		STREET 1:		C/O ALLIANZ GLOBAL INVESTORS
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		6179517046

	MAIL ADDRESS:	
		STREET 1:		C/O ROPES & GRAY LLP
		STREET 2:		ONE INTERNATIONAL PLACE
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02110
</SEC-HEADER>
<DOCUMENT>
<TYPE>40-17G
<SEQUENCE>1
<FILENAME>y00356be40v17g.htm
<DESCRIPTION>40-17G
<TEXT>
<HTML>
<HEAD>
<TITLE>40-17G</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><IMG src="y00356by0035601.gif" alt="(ALLIANZ GLOBAL INVESTORS LOGO)">
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">October&nbsp;24,
2008
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Securities and Exchange Commission<BR>
Office of Applications and Report Services<BR>
100 F Street, N.E.<BR>
Washington, D.C. 20549

</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">Re:&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Joint Insured Fidelity Bond of<br>
Allianz Funds (File No.&nbsp;811-06161)<br>
Allianz Funds Multi-Strategy Trust (File No.&nbsp;811-22167)<br>
Premier VIT (File No.&nbsp;811-8512)<br>
PIMCO Municipal Advantage Fund Inc. (File No.&nbsp;811-7532)<br>
Fixed Income SHares (File No.&nbsp;811-9721)<br>
PIMCO Municipal Income Fund (File No.&nbsp;811-10377)<br>
PIMCO California Municipal Income Fund (File No.&nbsp;811-10379)<br>
PIMCO New York Municipal Income Fund (File No.&nbsp;811-10381)<br>
PIMCO Municipal Income Fund II (File No.&nbsp;811-21076)<br>
PIMCO California Municipal Income Fund II (File No.&nbsp;811-21077)<br>
PIMCO New York Municipal Income Fund II (File No.&nbsp;811-21078)<br>
PIMCO Municipal Income Fund III (File No.&nbsp;811-21187)<br>
PIMCO California Municipal Income Fund III (File No.&nbsp;811-21188)<br>
PIMCO New York Municipal Income Fund III (File No.&nbsp;811-21189)<br>
PIMCO Corporate Income Fund (File No.&nbsp;811-10555)<br>
PIMCO Corporate Opportunity Fund (File No.&nbsp;811-21238)<br>
Nicholas-Applegate Convertible &#038; Income Fund (File No.&nbsp;811-21284)<br>
PIMCO High Income Fund (File No.&nbsp;811-21311)<br>
Nicholas-Applegate Convertible &#038; Income Fund II (File No.&nbsp;811-21338)<br>
PIMCO Floating Rate Income Fund (File No.&nbsp;811-21374)<br>
PIMCO Floating Rate Strategy Fund (File No.&nbsp;811-21601)<br>
NFJ Dividend, Interest &#038; Premium Strategy Fund (File No.&nbsp;811-21417)<br>
Nicholas-Applegate International &#038; Premium Strategy Fund (File No.&nbsp;811-21724)<br>
PIMCO Global StocksPLUS &#038; Income Fund (File No.&nbsp;811-21734)<br>
Nicholas-Applegate Equity &#038; Convertible Income Fund (File No.&nbsp;811-21989)<br>
Nicholas-Applegate Global Equity &#038; Convertible Income Fund (File No.&nbsp;811-22067)<br>
PIMCO Income Opportunity Fund (File No.&nbsp;811-22121)<br>
PCM Fund Inc. (File No.&nbsp;811-07816)<br>
PIMCO Strategic Global Government Fund Inc. (File No.&nbsp;811-08216)</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Ladies and Gentlemen:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Allianz Global Investors of America L.P.<BR>
1345 Avenue of the Americas<BR>
New York, NY 10105<BR>
212.739.3000</B>

</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->1<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">

<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><IMG src="y00356by0035601.gif" alt="(ALLIANZ GLOBAL INVESTORS)">
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Enclosed for filing on behalf of the above-referenced registered investment management investment
companies (the &#147;Funds&#148;) pursuant to Rule&nbsp;17g-1 of the Investment Company Act of 1940, as amended,
are the following documents:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(i)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>A copy of the Fidelity Bond Binder (the &#147;Bond&#148;), effective July&nbsp;1, 2008, issued by
National Union Fire Insurance Company, the primary policy for $25&nbsp;million; First Excess
Layer issued by Great American Insurance Company for $25&nbsp;million; and Second Excess Layer
issued by U.S. Fire Insurance Company for $20.5&nbsp;million, insuring the Funds is attached
under <U>Exhibit&nbsp;1</U>;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(ii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>A copy of the executed joint Fidelity Bond Agreement between the joint insureds in
accordance with Rule&nbsp;17g-1(f) is attached under <U>Exhibit&nbsp;2</U>;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(iii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>A copy of the resolutions of a majority of Trustees/Directors of each Board who are
not &#147;interested persons&#148; of the Funds, approving the amount, type, form and coverage of the
Bond and the portion of the premium to be paid by each Fund is attached under <U>Exhibit
3</U>; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(iv)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>A Rule&nbsp;17g-1 Minimum Amount of Bond worksheet showing the amount of a single insured
bond which each Fund would have to maintain, had it not been named as an insured under the
joint Bond is attached under <U>Exhibit&nbsp;4</U>.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Premiums for the Bond have been appropriately paid from July&nbsp;1, 2008 through the period ending July
1, 2009.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">If there are any questions regarding this filing, please contact the undersigned, at (212)
739-3222.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Very truly yours,
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><IMG src="y00356by0035602.gif" alt="-s- Thomas J. Fuccillo"><BR>
Thomas J. Fuccillo<BR>
Vice President, Secretary and Chief Legal Officer

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Allianz Global Investors of America L.P.<BR>
1345 Avenue of the Americas<BR>
New York, NY 10105<BR>
212.739.3000</B>

</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->2<!-- /Folio -->
</DIV>



</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>y00356bexv99w1.htm
<DESCRIPTION>EX-99.1: FIDELITY BOND BINDER
<TEXT>
<HTML>
<HEAD>
<TITLE>EX-99.1</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<DIV style="font-family: Helvetica,Arial,sans-serif">

<DIV align="right" style="font-size: 10pt; margin-top: 12pt">Exhibit&nbsp;1
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>INVESTMENT COMPANY BLANKET BOND</B>
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>NATIONAL UNION FIRE INSURANCE COMPANY<BR>
OF PITTSBURGH, PA</B><BR>
(A stock Insurance Company, herein Called the Underwriter)
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="42%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" COLSPAN="4"><B>DECLARATIONS</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>BOND NUMBER</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>Item&nbsp;1.</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Name of Insured
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>Allianz Funds</B>
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom">6214333</TD>
    <TD nowrap valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom">&nbsp;</TD>
    <TD valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Principal Address:
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>Suite&nbsp;250<br>
680 Newport Center Drive<br>
Newport Beach CA 92660</B><br></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom">&nbsp;</TD>
    <TD valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom">&nbsp;</TD>
    <TD valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(Herein called the Insured)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom">&nbsp;</TD>
    <TD valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom">&nbsp;</TD>
    <TD valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><B>Item&nbsp;2.</B></TD>
    <TD>&nbsp;</TD>
    <TD colspan="7" valign="top" align="left">Bond Period from 12:01&nbsp;a.m. on <B>07/01/2008 </B>to 12:01&nbsp;a.m. on <B>07/01/2009</B>.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom">&nbsp;</TD>
    <TD valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="7" valign="top" align="left">The effective date of the termination or cancellation of this bond, standard time at the
Principle Address as to each of the said dates.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom">&nbsp;</TD>
    <TD valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><B>Item&nbsp;3.</B></TD>
    <TD>&nbsp;</TD>
    <TD colspan="7" valign="top" align="left">Limit of Liability &#151;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="7" valign="top" align="left">Subject to Section&nbsp;9, 10 and 12 hereof:</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="7%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="53%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Limit of Liability</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Deductible Amount</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Insuring Agreement A &#151; FIDELITY</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>$</B></TD>
    <TD align="right"><B>25,000,000</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>$</B></TD>
    <TD align="right"><B>250,000</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Insuring Agreement B &#151; AUDIT EXPENSE</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>$</B></TD>
    <TD align="right"><B>50,000</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>$</B></TD>
    <TD align="right"><B>5,000</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Insuring Agreement C &#151; ON PREMISES</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>$</B></TD>
    <TD align="right"><B>25,000,000</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>$</B></TD>
    <TD align="right"><B>250,000</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Insuring Agreement D &#151; IN TRANSIT</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>$</B></TD>
    <TD align="right"><B>25,000,000</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>$</B></TD>
    <TD align="right"><B>250,000</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Insuring Agreement E &#151; FORGERY OR ALTERATION</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>$</B></TD>
    <TD align="right"><B>25,000,000</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>$</B></TD>
    <TD align="right"><B>250,000</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Insuring Agreement F &#151; SECURITIES</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>$</B></TD>
    <TD align="right"><B>25,000,000</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>$</B></TD>
    <TD align="right"><B>250,000</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Insuring Agreement G &#151; COUNTERFEIT CURRENCY</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>$</B></TD>
    <TD align="right"><B>25,000,000</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>$</B></TD>
    <TD align="right"><B>250,000</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Insuring Agreement H &#151; STOP PAYMENT</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>$</B></TD>
    <TD align="right"><B>50,000</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>$</B></TD>
    <TD align="right"><B>5,000</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Insuring Agreement I &#151; UNCOLLECTIBLE ITEMS OF DEPOSIT</TD>
    <TD align="left" valign="top"></TD>
    <TD align="right"><B>$</B></TD>
    <TD align="right"><B>50,000</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>$</B></TD>
    <TD align="right"><B>5,000</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD colspan="7" align="left">OPTIONAL COVERAGES ADDED BY RIDER:</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Insuring Agreement J &#151; COMPUTER SYSTEMS</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>$</B></TD>
    <TD align="right"><B>25,000,000</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>$</B></TD>
    <TD align="right"><B>250,000</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Insuring Agreement K &#151; UNAUTHORIZED SIGNATURES</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>$</B></TD>
    <TD align="right"><B>250,000</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>$</B></TD>
    <TD align="right"><B>5,000</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Insuring Agreement L &#151; AUTOMATED PHONE SYSTEMS</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>$</B></TD>
    <TD align="right"><B>25,000,000</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>$</B></TD>
    <TD align="right"><B>250,000</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Insuring Agreement M &#151; TELEFACSIMILE</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>$</B></TD>
    <TD align="right"><B>25,000,000</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>$</B></TD>
    <TD align="right"><B>250,000</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="9" valign="top" align="left">If &#147;Not Covered&#148; is inserted above opposite any specified Insuring Agreement or
Coverage, such Insuring Agreement or Coverage and any other reference thereto in this
bond shall be deemed to be deleted therefrom.</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="6%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="92%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>Item&nbsp;4.</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Office or Premises Covered &#151; Offices acquired or established subsequent to the effective date
of this bond are covered according to the terms of General Agreement A. All other Insured&#146;s
offices or premises in existence at the time this bond becomes effective are covered under this
bond except the offices or premises located as follows:</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">No Exceptions</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>Item&nbsp;5.</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">The Liability of the Underwriter is subject to the terms of the following riders attached hereto:</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">1-12</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>Item&nbsp;6.</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">The Insured by the acceptance of this bond gives notice to the Underwriter terminating or
canceling prior bond(s) or policy(ies) No.9(s) N/A such termination or cancellation to be
effective s of the time this bond becomes effective.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>Item&nbsp;7.</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Premium Amount :</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>$32,585</B></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;
</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left"> <IMG src="y00356by0035603.gif" alt="-s- ">
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Authorized Representative&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>

<P align="center" style="font-size: 10pt"><!-- Folio -->1<!-- /Folio -->
</DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>NATIONAL UNION FIRE INSURANCE COMPANY<BR>
OF PITTSBURGH, PA<BR>
RIDER No.&nbsp;1</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">To be attached to and form part of Bond No.&nbsp;6214333 in favor of Allianz Funds effective as of
07/01/08.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In consideration of the premium charged for the attached bond, it is hereby agreed that:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>From and after the time this rider becomes effective the Insured under the attached
bond are:</TD>
</TR>

</TABLE>
</DIV>

<P>
<DIV style="width: 100%; border: 1px solid black; padding: 11px;">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Allianz Funds</B><BR>
Allianz Global Investors Multi-Style Fund<BR>
CCM Capital Appreciation Fund<BR>
CCM Emerging Companies Fund<BR>
CCM Focused Growth Fund<BR>
CCM Mid-Cap Fund<BR>
NACM Emerging Markets Opportunities Fund<BR>
NACM Global Fund<BR>
NACM Growth Fund<BR>
NACM Income &#038; Growth Fund<BR>
NACM International Fund<BR>
NACM Mid-Cap Growth Fund<BR>
NACM Pacific Rim Fund<BR>
NFJ All-Cap Value Fund<BR>
NFJ Dividend Value Fund<BR>
NFJ International Value Fund<BR>
NFJ Large-Cap Value Fund<BR>
NFJ Mid-Cap Value Fund<BR>
NFJ Small-Cap Value Fund<BR>
OCC Equity Premium Strategy Fund<BR>
OCC Growth Fund<BR>
OCC International Equity Fund<BR>
OCC Opportunity Fund<BR>
OCC Renaissance Fund<BR>
OCC Small-Cap Value<BR>
OCC Target<BR>
OCC Value Fund<BR>
RCM Biotechnology Fund<BR>
RCM Healthcare Fund<BR>
RCM Global Resources Fund<BR>
RCM Global Small-Cap Fund<BR>
RCM International Growth Equity Fund<BR>
RCM Large-Cap Growth Fund<BR>
RCM Mid-Cap Fund<BR>
RCM Small-Cap Growth Fund<BR>
RCM Strategic Growth Fund<BR>
RCM Technology Fund<BR>
<B>Allianz Funds Multi-Strategy Trust</B><BR>
RCM Global Water Fund<BR>
RCM Global EcoTrends Fund<BR>
RCM All Horizons Fund<BR>
RCM International Opportunities Fund

</DIV> </DIV>
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->2<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">

<P>
<DIV style="width: 100%; border: 1px solid black; padding: 11px;">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">RCM Disciplined Equity Fund<BR>
NACM Global Equity 130/30 Fund<BR>
<B>Premier VIT</B><BR>
OpCap Managed Portfolio<BR>
OpCap Small Cap Portfolio<BR>
OpCap Equity Portfolio<BR>
OpCap Mid Cap Portfolio<BR>
NFJ Dividend Value Portfolio<BR>
OpCap Balanced Portfolio<BR>
<B>Fixed Income Shares</B><BR>
Series&nbsp;C<BR>
Series&nbsp;M<BR>
Series&nbsp;R<BR>
Series&nbsp;H<BR>
Allianz Dresdner Daily Asset Fund<BR>
<B>Allianz Global Investors sponsored Closed-End Funds</B><BR>
PIMCO Municipal Advantage Fund Inc.<BR>
PIMCO Municipal Income Fund<BR>
PIMCO New York Municipal Income Fund<BR>
PIMCO California Municipal Income Fund<BR>
PIMCO Corporate Income Fund<BR>
PIMCO Municipal Income Fund II<BR>
PIMCO New York Municipal Income Fund II<BR>
PIMCO California Municipal Income Fund II<BR>
PIMCO Municipal Income Fund III<BR>
PIMCO New York Municipal Income Fund III<BR>
PIMCO California Municipal Income Fund III<BR>
PIMCO Corporate Opportunity Fund<BR>
Nicholas-Applegate Convertible &#038; Income Fund<BR>
PIMCO High Income Fund<BR>
Nicholas-Applegate Convertible &#038; Income Fund II<BR>
PIMCO Floating Rate Income Fund<BR>
PIMCO Floating Rate Strategy Fund<BR>
NFJ Dividend, Interest &#038; Premium Strategy Fund<BR>
Nicholas-Applegate International &#038; Premium Strategy Fund<BR>
PIMCO Global StocksPLUS &#038; Income Fund<BR>
Nicholas-Applegate Equity &#038; Convertible Income Fund<BR>
Nicholas-Applegate Global Equity &#038; Convertible Income Fund<BR>
PIMCO Income Opportunity Fund<BR>
PIMCO Strategic Global Government Fund, Inc.<BR>
PCM Fund, Inc.<BR>
AND ALL NOW EXISTING OR HEREINAFTER CREATED FUNDS

</DIV>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The first named Insured shall act for itself and for each and all of the Insured for all
the purposes of the attached bond.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Knowledge possessed or discovery made by the Corporate Risk Management Department, Internal
Audit Department, or General Counsel Department, of any Insured or by any partner or officer
thereof shall for all the purposes of the attached bond constitute knowledge or discovery by all
the Insured.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>If, prior to the termination of the attached bond in its entirety, the attached bond is
terminated as to any Insured, there shall be no liability for any</TD>
</TR>

</TABLE>
</DIV>

</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->3<!-- /Folio -->
</DIV>



<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>loss sustained by such Insured unless discovered before the time such termination as to such
Insured becomes effective.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">5.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The liability of the Underwriter for loss or losses sustained by any or all of the Insured
shall not exceed the amount for which the Underwriter would be liable had all such loss or losses
been sustained by any one of the Insured. Payment by the Underwriter to the first named Insured of
loss sustained by any Insured shall fully release the Underwriter on account of such loss.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">6.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>If the first named Insured ceases for any reason to be covered under the attached bond,
then the Insured next named shall thereafter be considered as the first named Insured for all the
purposes of the attached bond.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">7.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The attached bond shall be subject to all its agreements, limitations and conditions except
as herein expressly modified.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">8.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>This rider shall become effective as 12:01&nbsp;a.m. on 07/01/08.
Signed, Sealed and dated</TD>
</TR>

</TABLE>
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="bottom">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left"> <IMG src="y00356by0035604.gif" alt="-s- Steven e Liston">
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">SR 5538&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Authorized Representative&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>



<P align="center" style="font-size: 10pt"><!-- Folio -->4<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">




<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>NATIONAL UNION FIRE INSURANCE COMPANY<BR>
OF PITTSBURGH, PA</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>Rider No.&nbsp;2</B>

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>AMENDMENT TO TERMINATION</B>

</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">To be attached to and form part of Investment Company Blanket Bond No.6214333 in favor of Allianz
Funds.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">It is agreed that:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The attached bond is hereby amended by deleting Section&nbsp;13., TERMINATION, in its entirety and
substituting the following:</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Underwriter may terminate this bond as an entirety by furnishing written notice specifying
the termination date which cannot be prior to 90&nbsp;days after the receipt of such written notice
by each Investment Company named as Insured and the Securities and Exchange Commission,
Washington, D.C. The Insured may terminate this bond as an entirety by furnishing written
notice to the Underwriter. When the Insured cancels, the Insured shall furnish written notice
to the Securities and Exchange Commission, Washington, D.C. prior to 90&nbsp;days before the
effective date of the termination. The Underwriter shall notify all other Investment Companies
named as Insured of the receipt of such termination notice and the termination cannot be
effective prior to 90&nbsp;days after receipt of written notice by all other Investment Companies.
Premiums are earned until the termination date as set forth herein.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>This Bond will terminate as to any one Insured, (other than a registered management investment
company), immediately upon taking over of such Insured by a receiver or other liquidator or by
State or Federal officials, or immediately upon the filing of a petition under any State or
Federal statute relative to bankruptcy or reorganization of the Insured, or assignment for he
benefit of creditors of the Insured, or immediately upon such Insured ceasing to exist,
whether through merger into another entity, or by disposition of all of its assets.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>This Bond will terminate as to any registered management investment company upon the
expiration of 90&nbsp;days after written notice has been given to the Securities and Exchange
Commission, Washington, D.C.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Underwriter shall refund the unearned premium computed at short rates in accordance with
the standard short rate cancellation tables if terminated by the Insured or pro rata
terminated for any other reason.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>This bond shall terminate</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">a.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>as to any Employee as soon as the Corporate Risk Management Department,
Internal Audit Department or General Counsel, not in collusion with such Employee,
shall learn of any dishonest or fraudulent act(s), including Larceny or
Embezzlement on the part of such Employee without prejudice to the loss of any
Property then in transit in the custody of such Employee and upon the expiration of
ninety (90)&nbsp;days after written notice has been given to the Securities and Exchange</TD>
</TR>


</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->5<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Commission, Washington, D.C. (See Section&nbsp;16(d)) and to the Insured Investment
Company, or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">b.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>as to any Employee 90&nbsp;days after receipt by each Insured and by the
Securities and Exchange Commission of a written notice from the Underwriter of its
desire to terminate this bond as to such Employee, or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">c.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>as to any person, who is a partner, officer or employee of any
Electronic Data Processor covered under this bond, from and after the time that the
Insured or any partner or officer thereof not in collusion with such person shall
have knowledge or information that such person has committed any dishonest or
fraudulent act(s), including Larceny or Embezzlement in the service of the Insured
or otherwise, whether such act be committed before or after the time this bond is
effective and upon the expiration of ninety (90)&nbsp;days after written notice has been
given by the Underwriter to the Securities and Exchange Commission, Washington DC
and to the insured Investment Company.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">d.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The automatic termination is waived with respect to any Employee
provided the fraudulent or dishonest act(s) was not in excess of $25,000; and the
fraudulent or dishonest act(s) occurred more than three (3)&nbsp;years prior to the
Insured&#146;s knowledge; and did not occur during the current or any prior employment
of the Employee by the Insured.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Nothing herein contained shall be held to vary, alter, waive, or extend any of the terms,
limitations, conditions, or provisions of the attached bond other than as above stated.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>This rider is effective as of 12:01&nbsp;a.m. on July&nbsp;1, 2008.</TD>
</TR>

</TABLE>
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="bottom">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left"> <IMG src="y00356by0035604.gif" alt="-s- Steven e Liston">
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Authorized Representative&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


<P align="center" style="font-size: 10pt"><!-- Folio -->6<!-- /Folio -->
</DIV>
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<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><U><B>POLICYHOLDER NOTICE</B></U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Thank you for purchasing insurance from a member company of American International Group, Inc.
(AIG). The AIG member companies generally pay compensation to brokers and independent agents, and
may have paid compensation in connection with your policy. You can review and obtain information
about the nature and range of compensation paid by AIG member companies to brokers and independent
agents in the United States by visiting our website at www.aigproducercompensation.com or by
calling AIG at 1-800-706-3102.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">91222 (7/06)
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->7<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">




<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>NATIONAL UNION FIRE INSURANCE COMPANY<BR>
OF PITTSBURGH, PA</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>RIDER NO. 3</B>

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>INSURING AGREEMENT J</B>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To be attached to and form part of Bond No. <B>6214333</B>
in favor of <B>Allianz Funds</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">It is agreed that:

</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The attached bond is amended by adding an additional insuring agreement as follows:</TD>
</TR>

</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>COMPUTER SYSTEMS</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Loss resulting directly from a fraudulent
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>entry of data into, or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>change of data or programs within a Computer System; provided the fraudulent entry or change
causes</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Property to be transferred, paid or delivered,</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>an account of the Insured, or of its customer, to be added, deleted, debited or credited:</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>an unauthorized account of a fictitious account to be debited or credited;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(3)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>voice instructions or advices having been transmitted to the Insured or its agent(s) by
telephone; </TD>
</TR>
<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>
and provided further, the fraudulent entry or change is made or caused by an
individual acting with the intent to:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(i)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>cause the Insured or its agent(s) to sustain a loss, and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(ii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>obtain financial benefit for that individual or for other persons intended by that individual
to receive financial benefit,</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(iii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>and further provided such voice instruction or advices:</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>were made by a person who purported to represent an individual authorized to make such voice
instruction or advices; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>were electronically recorded by the Insured or its agent(s).</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(4)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>It shall be a condition to recovery under the Computer Systems Rider that the Insured or its
agent(s) shall to the best of their ability electronically record all voice instructions or advices
received over telephone. The Insured or its agent(s) warrant that they shall make their best
efforts to maintain the electronic recording system on a continuous basis. Nothing, however, in
this Rider shall bar the Insured from recovery where no recording is available because of
mechanical failure of the device used in making such recording, or because of failure of the media
used to record conversation from any cause, or error or omission of any Employee(s) or agent(s) of
the Insured.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SCHEDULE OF SYSTEMS</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">All computer systems utilized by the Insured

</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>As used in this Rider, Computer System means:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>computers with related peripheral components, including storage components, wherever
located,</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>systems and application software,</TD>
</TR>


</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->8<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>terminal devices,</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(d)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>related communication networks or customer communication systems, and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(e)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>related Electronic Funds Transfer Systems,<BR><BR>
by which data are electronically collected, transmitted, processed, stored, and retrieved.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In addition to the exclusions in the attached bond, the following exclusions are applicable to
this Insuring Agreement:</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>loss resulting directly or indirectly from the theft of confidential information, material or
data; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>loss resulting directly or indirectly from entries or changes made by an individual
authorized to have access to a Computer System who acts in good faith on instructions, unless
such instructions are given to that individual by a software contractor (or by a partner,
officer or employee thereof) authorized by the Insured to design, develop, prepare, supply
service, write or implement programs for the Insured&#146;s Computer System.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The following portions of the attached bond are not applicable to this Rider:</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the initial paragraph of the bond preceding the Insuring Agreements which reads &#147;...at any
time but discovered during the Bond Period.&#148;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Section&nbsp;9-NON-REDUCTION AND NON-ACCUMULATION OF LIABILITY AND TOTAL LIABILITY</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Section&nbsp;10-LIMIT OF LIABILITY</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">5.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Coverage afforded by this rider applies only to loss discovered by the Insured during the
period this Rider is in force.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">6.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>All loss or series of losses involving the fraudulent activity of one individual, or involving
fraudulent activity in which one individual is implicated, whether or not that individual is
specifically identified, shall be treated as one loss. A Series of losses involving unidentified
individuals but arising from the same method of operation may be deemed by the Underwriter to
involve the same individual and in that event shall be treated as one loss.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">7.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Limit of Liability for the coverage provided by this Rider shall be <B>Twenty Five Millions
Dollars ($25,000,000) </B>, it being understood however, that such liability shall be part of and not in
addition to the Limit of Liability stated in Item&nbsp;3 of the Declarations of the attached bond.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">8.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Underwriter shall be liable hereunder for the amount by which one loss shall be in excess of
<B>Two Hundred and Fifty Thousand Dollars ($250,000)</B>, (herein called the Deductible amount) but not
in excess of the Limit of Liability stated above.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">9.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>If any loss is covered under this Insuring Agreement and any other Insuring Agreement or
Coverage, the maximum amount payable for such loss shall not exceed the largest amount available
under any one Insuring Agreement or Coverage.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">10.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Coverage under this Rider shall terminate upon termination or cancellation of the bond to which
this Rider is attached. Coverage under this rider may also be terminated or cancelled without
canceling the bond as an entirety:</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>60&nbsp;days after receipt by the Insured of written notice from the Underwriter of its desire to
terminate or cancel coverage under this Rider, or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>immediately upon receipt by the Underwriter of a written request from the Insured to
terminate or cancel coverage under this Rider.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Underwriter shall refund to the Insured the unearned premium for this coverage under this
Rider. The refund shall be computed at short rates if this Rider is terminated or cancelled or
reduced by notice from, or at the instance of, the Insured.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">11.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Section&nbsp;4-LOSS-NOTICE-PROOF-LEGAL PROCEEDING of the Conditions and Limitations of this bond is
amended by adding the following sentence:</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->9<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;Proof of Loss resulting from Voice Instructions or advices covered under this bond shall include
Electronic Recording of such Voice Instructions or advices.&#148;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">12.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Not withstanding the foregoing, however, coverage afforded by this Rider is not designed to
provide protection against loss covered under a separate Electronic and Computer Crime Policy by
whatever title assigned or by whatever Underwriter written.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Any loss which is covered under such separate Policy is excluded from coverage under this bond; and
the Insured agrees to make claim for such loss under its separate Policy.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">13.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>This rider shall become effective at 12:01&nbsp;a.m. Standard time on <B>07/01/2008</B></TD>
</TR>

</TABLE>
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="bottom">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left"><IMG src="y00356by0035604.gif" alt="-s- Steven e Liston">
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Authorized Representative&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


<P align="center" style="font-size: 10pt"><!-- Folio -->10<!-- /Folio -->
</DIV>



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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">



<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>NATIONAL UNION FIRE INSURANCE COMPANY<BR>
OF PITTSBURGH, PA</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>RIDER NO. 4</B>

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>INSURING AGREEMENT K</B>

</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">To be attached to and form a part of Investment Company Blanket Bond No. <B>6214333 </B>in favor of
<B>Allianz Funds</B>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">It is agreed that:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The attached bond is amended by adding an additional Insuring Agreement as follows:</TD>
</TR>

</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>UNAUTHORIZED SIGNATURES</B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Loss resulting directly from the insured having accepted, paid or cashed any check or
withdrawal order, draft, made or drawn on a customer&#146;s account which bears the signature or
endorsement of one other than a person whose name and signature is on the application on file
with the Insured as a signatory on such account.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(3)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>It shall be a condition precedent to the Insured&#146;s right of recovery under this rider that
the Insured shall have on file signatures all persons who are authorized signatories on such
account.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(4)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Limit of Liability for the coverage provided by this rider shall be <B>Two Hundred and Fifty
Thousand Dollars ($250,000) </B>it being understood, however, that such liability shall be part of
and not in addition to the Limit of Liability stated in item 3. of the Declarations of the
attached bond.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(5)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Underwriter shall not be liable under the Unauthorized Signatures Rider for any loss on
account of any instrument unless the amount of such instrument shall be excess of <B>Five
Thousand Dollars ($5,000) </B>(herein called Deductible Amount) and unless such loss on account of
such instrument, after deducting all recoveries on account of such instrument made prior to
the payment of such loss by the Underwriter, shall be in excess of such Deductible Amount and
then for such excess only, but in no event more than the amount of the attached bond, or the
amount of coverage under the Unauthorized Signatures Rider, if the amount of such coverage is
less than the amount of the attached bond.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(6)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Nothing herein contained shall be held to vary, alter, waive, or extend any of the terms,
limitations, conditions, or provisions of the attached bond other than as above stated.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(7)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The rider is effective as of 12:01&nbsp;a.m. standard time on <B>01-JUL-2008 </B>as specified in the
bond.</TD>
</TR>

</TABLE>
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="bottom">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left"><IMG src="y00356by0035604.gif" alt="-s- Steven e Liston">
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Authorized Representative&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


<P align="center" style="font-size: 10pt"><!-- Folio -->11<!-- /Folio -->
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">





<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>NATIONAL UNION FIRE INSURANCE COMPANY<BR>
OF PITTSBURGH, PA</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>RIDER NO. 5</B>

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>INSURING AGREEMENT L</B>

</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">To be attached to and form part of Bond No. <B>6214333</B><BR><BR>
Issued to <B>Allianz Funds</B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;It is agreed that:
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">1. The attached bond is amended by adding an additional Insuring Agreement as follows:
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>AUTOMATED PHONE SYSTEM</B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">I.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Loss caused by an Automated Phone System (&#147;APS&#148;) Transaction, where the request for
such APS Transaction is unauthorized or fraudulent and is made with the manifest intent to
deceive; provided, that the entity which receives such request generally maintains and
follows during the bond Period all APS Designated Procedures with respect to APS
Transactions. The Unintentional isolated failure of such entity to maintain and follow a
particular APS Designated Procedure in a particular instance shall not preclude coverage
under this Insuring Agreement, subject to the exclusions herein and in the Bond.</TD>
</TR>

</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 8%">1. <U>Definitions</U>. The following terms used in this Insuring Agreement shall
have the following meanings:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 8%">a. &#147;APS Transaction&#148; means any APS Redemption, APS Exchange or APS Election.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 8%">b. &#147;APS Redemption&#148; means any redemption of shares issued by an Investment Company
which is requested over the telephone by means of information transmitted by an
individual caller through use of a telephone keypad.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 8%">c. &#147;APS Election&#148; means any election concerning dividend options available to Fund
Shareholders which is made over the telephone by means of information transmitted by
an individual caller through use of a telephone keypad.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 8%">d. &#147;APS Exchange&#148; means any exchange of shares in a registered account of one Fund
into shares in an identically registered account of another Fund in the same complex
pursuant to exchange privileges of the two Funds, which exchange is requested over
the telephone by means of information transmitted by an individual caller through use
of a telephone keypad.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 8%">e. &#147;APS Designated Procedures&#148; means all of the following procedures:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 10%">(1) <U>Election in Application</U>: No APS Redemption shall be executed unless
the shareholder to whose account such an APS Redemption relates has previously
elected by Official Designation to permit such APS Redemption.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 10%">(2) <U>Logging</U>: All APS Transaction requests shall be logged or otherwise
recorded, so as to preserve all of the information transmitted by an individual
caller through use of a telephone keypad in the course of such a request, and
the records shall be retained for at least six months.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 12%">(a)&nbsp;Information contained in the records shall be capable of being
retrieved through the following methods:
</DIV>
<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>audio tape and or transactions stored on computer disks</B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 12%">(b)&nbsp;Information contained in the records shall be capable of being
retrieved and produced within a reasonable time after retrieval of specific
information is requested, at a success rate of no less than 85&nbsp;percent.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->12<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 10%">(3) <U>Identity Test</U>: The identity of the caller in any request for an APS
Transaction shall be tested before execution of that APS Transaction by requiring
the entry by the caller of a confidential personal identification number (&#147;PIN&#148;)
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 12%">(a)&nbsp;Limited Attempts to Enter PIN: If the caller fails to enter a
correct PIN within three attempts, the caller must not be allowed
additional attempts during the same (telephone call/twenty-four hour
day) to enter the PIN
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 10%">(4) <U>Written Confirmation</U>: A written confirmation of any APS Transaction
shall be mailed to the shareholder(s) to whose account such APS Transaction
relates, at the original record address, by the end of the Insured&#146;s next regular
processing cycle, but in no event later than five business days following such APS
Transaction.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 10%">(5) <U>Access to APS Equipment</U>: Access to the equipment which permits the
entity receiving the APS Transaction request to process and effect the transaction
shall be limited in the following manner:
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">2. <U>Exclusions</U>. It is further understood and agreed that this extension shall not
cover:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">a. Any loss covered under Insuring Agreement A. &#147;Fidelity&#148;, of this Bond;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">b. Any loss resulting from:
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 10%">(1)&nbsp;The redemption of shares, where the proceeds of such redemption are made
payable to other than
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 12%">(i)&nbsp;the shareholder of record, or
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 12%">(ii)&nbsp;a person officially Designated to receive redemption proceeds, or
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 12%">(iii)&nbsp;a bank account officially Designated to receive redemption proceeds, or
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 10%">(2)&nbsp;The redemption of shares, where the proceeds of such redemption are paid by
check mailed to any address, unless such address has either been
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 12%">(i)&nbsp;designated by voice over the telephone or in writing without a signature
guarantee, in either case at least thirty (30)&nbsp;days prior to such redemption,
or
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 12%">(ii)&nbsp;officially Designated, or
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 12%">(iii)&nbsp;verified by any other procedures which may be stated below in this
Rider, or
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 10%">(3)&nbsp;The redemption of shares, where the proceeds of such redemption are paid by
wire transfer to other than the shareholder&#146;s officially Designated bank account,
or
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 10%">(4)&nbsp;the Intentional failure to adhere to one or more APS Designated Procedures.
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">2. Nothing herein contained shall be held to vary, alter, waive, or extend any of the terms,
limitations, conditions or provisions of the attached bond other than above stated.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">3. This rider shall become effective as of 12:01&nbsp;a.m. on <B><I>07/01/2008 </I></B>standard time as specified in
the bond.
</DIV>


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="bottom">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left"><IMG src="y00356by0035604.gif" alt="-s- Steven e Liston">
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Authorized Representative&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


<P align="center" style="font-size: 10pt"><!-- Folio -->13<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">




<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>NATIONAL UNION FIRE INSURANCE COMPANY<BR>
OF PITTSBURGH, PA</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>RIDER NO. 6</B>

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>INSURING AGREEMENT M</B>

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>TELEFACSIMILE TRANSMISSIONS</B>

</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">To be attached to and form part of Investment Company Blanket Bond No<B>. 6214333 </B><BR><BR>issued to <B>Allianz
Funds</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">It is agreed that:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The attached bond is amended by adding an additional Insuring Agreement as follows:</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Loss resulting by reason of the Insured having transferred, paid or delivered any funds or
Property, established any credit, debited any account, or given any value relying on any
fraudulent instructions sent by a customer or financial institution by Telefacsimile
Transmission directed to the Insured, authorizing or acknowledging the transfer, payment, or
delivery of funds or property, the establishment of a credit, debiting of any account, or the
giving of value by the Insured, but only if such telefacsimile instructions:</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>i)&nbsp;bear a valid test key exchanged between the Insured and a customer or another financial
institution with authority to use such test key for Telefacsimile instructions in the ordinary
course of business, but which test key has been wrongfully obtained by a person who was not
authorized to initiate, make, validate or authenticate a test key arrangement; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>ii)&nbsp;fraudulently purport to have been sent by such customer or financial institution, but
which telefacsimile instruction were transmitted without the knowledge or consent of such
customer or financial institution by a person other than such customer or financial
institution and which bear a forged signature.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;Telefacsimile&#148; means a system of transmitting written documents by electronic signals
over telephone lines to equipment maintained by the Insured within its communication
room for the purposes of reproducing a copy of said document. It does not mean
electronic communication sent by Telex, TWC, or electronic mail, or Automated Clearing
House.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The limit of Liability for the coverage provided by this rider shall be <B>Twenty Five Million
Dollars ($25,000,000), </B>it being understood, however, that such liability shall be part of and
not in addition to the limit of liability stated in Item&nbsp;3 of the Declaration of the attached
bond.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Underwriter shall be liable hereunder for the amount by which a Single Loss exceeds the
Deductible Amount of <B>Two Hundred and Fifty Thousand Dollars ($250,000), </B>but not in excess of
the Limit of Liability stated above.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Nothing herein contained shall be held to vary, alter, waive or extend any of the terms,
limitations conditions or agreements of the attached bond other than as above stated.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">5.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>This rider is effective as of 12:01&nbsp;a.m. on <B>01-JUL-2008 </B>standard time as specified in the
attached bond.</TD>
</TR>

</TABLE>
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="bottom">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left"><IMG src="y00356by0035604.gif" alt="-s- Steven e Liston">
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Authorized Representative&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


<P align="center" style="font-size: 10pt"><!-- Folio -->14<!-- /Folio -->
</DIV>



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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>NATIONAL UNION FIRE INSURANCE COMPANY<BR>
OF PITTSBURGH, PA</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>Rider No.&nbsp;7</B>

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>Internet Rider</B>

</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">To be attached to and form part of Investment Company Blanket Bond No. <B>6214333 </B>in favor of <B>Allianz
Funds.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">It is agreed that Section 2(d) of Computer Systems Insuring Agreement (J)&nbsp;is amended to include:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Related communications networks or customer communication including but not limited
to the INTERNET, by which Electronic Data are electronically collected, transmitted,
processed, stored, and retrieved.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Nothing herein shall be held to vary, alter, waive or extend any of the terms,
limitations, conditions or provisions of the attached bond other than as above stated.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>This rider shall become effective as of 12:01&nbsp;a.m. on <B>01-JUL-2008 </B>standard time as
specified in the attached bond.</TD>
</TR>

</TABLE>
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>

<TD colspan="2" style="border-bottom: 1px solid #000000" align="left">
<IMG src="y00356by0035604.gif" alt="-s- Steven e Liston">
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Authorized Representative&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt"><!-- Folio -->15<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>

</TABLE>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>NATIONAL UNION FIRE INSURANCE COMPANY<BR>
OF PITTSBURGH, PA.</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>Rider No.&nbsp;8</B>

</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">1. It is agreed that Insuring Agreement (A)&nbsp;FIDELITY is deleted and replaced by the following:
</DIV>




<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">(A)&nbsp;FIDELITY
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">Loss resulting from any dishonest or fraudulent act(s), including Larceny or Embezzlement
committed by an Employee, committed anywhere and whether committed alone or in collusion with
others, including loss of Property resulting from such acts of an Employee, which Property is
held by the Insured for any purpose or in any capacity and whether so held gratuitously or not
and whether or not the Insured is liable therefor.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">Dishonest or fraudulent act(s) as used in this Insuring Agreement shall mean only dishonest or
fraudulent act(s) committed by such Employee with the intent:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>to cause the Insured to sustain such loss, or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>to obtain thereby an improper financial benefit for the Employee, or
for any person or entity intended by the Employee to receive such benefit.</TD>
</TR>

</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">It is agreed that loss resulting from the intentional transfer of Property to the benefit of
an innocent third party, committed by the Employee in the knowledge that such third party was
not lawfully entitled to such Property and which Property is not lawfully recoverable by the
Insured, shall be deemed to be a loss which meets the requirements of this Insuring Agreement.
Such loss must result from acts committed by the Employee with the intent to cause the Insured
to sustain such loss.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">Notwithstanding the foregoing however, it is agreed that with regard to Loans and Trading this
bond covers only loss resulting directly from dishonest or fraudulent acts committed by an
Employee with the intent to make and which result in
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(i)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>an improper financial benefit for the Employee, or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(ii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>an improper financial benefit for another person or entity with whom
the Employee committing the dishonest or fraudulent act was in collusion, provided
that the Insured establishes that the Employee intended to participate in the
financial benefit.</TD>
</TR>

</TABLE>
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->16<!-- /Folio -->
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 8%">Salaries, commissions, fees, bonuses, promotions, awards, profit sharing, pensions
or other Employee benefits shall not constitute an improper financial benefit.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 8%">The word &#147;Loan&#148; as used in this Insuring Agreement means all extensions of credit
by the Insured and all transactions creating a creditor relationship in favor of
the Insured and all transactions by which the Insured assumes an existing creditor
relationship.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">The word &#147;Trading&#148; as used in this Insuring Agreement means trading or other
dealings in securities, commodities, futures, options, foreign or Federal Funds,
currencies, foreign exchange and the like.
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Nothing herein contained shall be held to vary, alter, waive or extend any of the terms,
limitations, conditions or agreements of the attached bond other than as above stated.</TD>
</TR>

</TABLE>
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>

<TD colspan="3" style="border-bottom: 0px solid #000000" align="left">
<IMG src="y00356by0035604.gif" alt="-s- Steven e Liston">
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">AUTHORIZED REPRESENTATIVE&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


<P align="center" style="font-size: 10pt"><!-- Folio -->17<!-- /Folio -->
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">




<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>NATIONAL UNION FIRE INSURANCE COMPANY<BR>
OF PITTSBURGH, PA.</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>RIDER No.&nbsp;9</B>

</DIV>

<DIV align="LEFT" style="font-size: 10pt; margin-top: 6pt">To be attached to and form part of No.&nbsp;6214333 in favor of Allianz Funds.

</DIV>

<DIV align="LEFT" style="font-size: 10pt; margin-top: 6pt">It is agreed that:

</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>INSURING AGREEMENT G &#147;Counterfeit Currency&#148; is deleted in its entirety and the following is
substituted therefor:</TD>
</TR>

</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">Loss resulting directly from the receipt by the Insured, in good faith, of any counterfeited
money orders or altered paper currency or coin of any country.
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Nothing herein contained shall be held to vary, alter, waive, or extend any of the terms,
limitations, conditions, or agreements of the attached bond other than as above stated.</TD>
</TR>

</TABLE>
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>

<TD colspan="3" style="border-bottom: 0px solid #000000" align="left">
<IMG src="y00356by0035604.gif" alt="-s- Steven e Liston">
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">AUTHORIZED REPRESENTATIVE&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt"><!-- Folio -->18<!-- /Folio -->
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">



<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>NATIONAL UNION FIRE INSURANCE COMPANY<BR>
OF PITTSBURGH, PA.</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>RIDER NO. 10</B>

</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">To be attached to and form part of Investment Company Blanket Bond No.&nbsp;6214333 <BR><BR>in favor of Allianz
Funds <BR><BR>It is agreed that:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">1. SECTION 1., DEFINITIONS, (a) &#147;Employee,&#148; is hereby amended to include the following:
</DIV>




<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">(10)&nbsp;registered representatives and retired Employees for a period of sixty (60)&nbsp;days
after their retirement.
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Nothing herein contained shall be held to vary, alter, waive or extend any of the terms,
limitations, conditions or agreements of the attached bond other than as above stated.</TD>
</TR>

</TABLE>
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>

<TD colspan="2" style="border-bottom: 1px solid #000000" align="left">
<IMG src="y00356by0035604.gif" alt="-s- Steven e Liston">
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">AUTHORIZED REPRESENTATIVE&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt"><!-- Folio -->19<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>

</TABLE>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>NATIONAL UNION FIRE INSURANCE COMPANY<BR>
OF PITTSBURGH, PA.</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>RIDER NO. 11</B>

</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">To be attached to and form part of Investment Company Blanket Bond No.&nbsp;6214333
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">in favor of Allianz Funds.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">It is agreed that:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Insuring Agreement (B), AUDIT EXPENSE, is amended so that it applies to any of the
Insuring Agreements contained in this Bond or added to this Bond by rider.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Nothing herein contained shall be held to vary, alter, waive or extend any of the
terms, limitations, conditions or agreements of the attached bond other than as above
stated.</TD>
</TR>

</TABLE>
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>

<TD colspan="2" style="border-bottom: 1px solid #000000" align="left">
<IMG src="y00356by0035604.gif" alt="-s- Steven e Liston">
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">AUTHORIZED REPRESENTATIVE&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt"><!-- Folio -->20<!-- /Folio -->
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>

</TABLE>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>NATIONAL UNION FIRE INSURANCE COMPANY<BR>
OF PITTSBURGH, PA.</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>RIDER No.&nbsp;12</B>

</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">This rider, effective 07/01/08 forms a part of bond number 6214333 issued to Allianz Funds by AIG.
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>AMEND LOSS &#151; NOTICE &#151; PROOF &#151; LEGAL PROCEEDINGS</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">It is agreed that:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Section&nbsp;4, Loss &#151; Notice &#151; Proof &#151; Legal Proceedings, is amended by deleting the
following:</TD>
</TR>

</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&#147;At the earliest practicable moment after discovery of any loss...&#148; and substituting the
words &#147;At the earliest practicable moment, not to exceed sixty (60)&nbsp;days, after
discovery of any loss...&#148;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">The following section is also deleted
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&#147;Discovery occurs when the Insured
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>becomes aware of facts, or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>receives written notice of an actual or potential claim by a third
party which alleges that the Insured is liable under circumstance which would cause
a reasonable person to assume that a loss covered by the bond has been or will be
incurred even though the exact amount or details of loss may not be then known.&#148;</TD>
</TR>

</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">and replacing the above with the following:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&#147;Discovery occurs when the Insured&#146;s Risk Manager&#146;s or General Counsel&#146;s office
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>becomes aware of facts, or</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>receives written notice of an actual or potential claim by a third
party which alleges that the Insured is liable under circumstance which would cause
a reasonable person to assume that a loss covered by the bond has been or will be
incurred even though the exact amount or details of loss may not be then known of a
loss that exceeds, or is likely to exceed, $100,000.&#148;</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Nothing herein contained shall be held to vary, alter, waive or extend any of the
terms, limitations, conditions or agreements of the attached bond other than as above
stated.</TD>
</TR>

</TABLE>
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>

<TD colspan="2" style="border-bottom: 1px solid #000000" align="left">
<IMG src="y00356by0035604.gif" alt="-s- Steven e Liston">
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">AUTHORIZED REPRESENTATIVE&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


<P align="center" style="font-size: 10pt"><!-- Folio -->21<!-- /Folio -->
</DIV>
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<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>INVESTMENT COMPANY BLANKET BOND</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Underwriter, in consideration of an agreed premium, and subject to the Declarations made a part
hereof, the General Agreements, Conditions and Limitations and other terms of this bond, agrees
with the Insured, in accordance with the Insuring Agreements hereof to which an amount of insurance
is applicable as set forth in Item&nbsp;3 of the Declarations and with respect to loss sustained by the
Insured at any time but discovered during the Bond Period, to indemnify and hold harmless the
Insured for:
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>INSURING AGREEMENTS</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">(A)&nbsp;FIDELITY
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loss resulting from any dishonest or fraudulent act(s), including Larceny or Embezzlement
committed by an Employee, committed anywhere and whether committed alone or in collusion with
others, including loss of Property resulting from such acts of an Employee, which Property is held
by the Insured for any purpose or in any capacity and whether so held gratuitously or not and
whether or not the Insured is liable therefor.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dishonest or fraudulent act(s) as used in this Insuring Agreement shall mean only dishonest or
fraudulent act(s) committed by such Employee with the manifest intent:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>to cause the Insured to sustain such loss; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>to obtain financial benefit for the Employee, or for any other person or
organization intended by the Employee to receive such benefit, other than salaries,
commissions, fees, bonuses, promotions, awards, profit sharing, pensions or other
employee benefits earned in the normal course of employment.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">(B)&nbsp;AUDIT EXPENSE
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Expense incurred by the Insured for that part of the costs of audits or examinations required
by any governmental regulatory authority to be conducted either by such authority or by an
independent accountant by reason of the discovery of loss sustained by the Insured through any
dishonest or fraudulent act(s), including Larceny or Embezzlement of any of the Employees. The
total liability of the Underwriter for such expense by reason of such acts of any Employee or in
which such Employee is concerned or implicated or with respect to any one audit or examination is
limited to the amount stated opposite Audit Expense in Item&nbsp;3 of the Declarations; it being
understood, however, that such expense shall be deemed to be a loss sustained by the Insured
through any dishonest or fraudulent act(s), including Larceny or Embezzlement of one or more of the
Employees and the liability under this paragraph shall be in addition to the Limit of liability
stated in Insuring Agreement (A)&nbsp;in Item&nbsp;3 of the Declarations.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">(C)&nbsp;ON PREMISES
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loss of Property (occurring with or without negligence or violence) through robbery, burglary,
Larceny, theft, holdup, or other fraudulent means, misplacement, mysterious unexplainable
disappearance, damage thereto or destruction thereof, abstraction or removal from the possession,
custody or control of the Insured, and loss of subscription, conversion, redemption or deposit
privileges through the misplacement or loss of Property, while the Property is (or is supposed or
believed by the Insured to be) lodged or deposited within any offices or premises located anywhere,
except in an office listed in Item&nbsp;4 of the Declarations or amendment thereof or in the mail or
with a carrier for hire other than an armored motor vehicle company, for the purpose of
transportation.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">Offices and Equipment
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Loss of or damage to, furnishings, fixtures, stationery, supplies or equipment,
within any of the Insured&#146;s offices covered under this bond caused by Larceny or theft
in, or by burglary, robbery or holdup of such office, or attempt thereat, or by vandalism
or malicious mischief; or</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->22<!-- /Folio -->
</DIV>

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<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>loss through damage to any such office by Larceny or theft in, or by burglary,
robbery or holdup of such office or attempt thereat, or to the interior of any such
office by vandalism or malicious mischief provided, in any event, that the Insured is
the owner of such offices, furnishings, fixtures, stationery, supplies or equipment or
is legally liable for such loss or damage, always excepting, however, all loss or damage
through fire.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">(D)&nbsp;IN TRANSIT
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loss of Property (occurring with or without negligence or violence) through robbery, Larceny,
theft, holdup, misplacement, mysterious unexplainable disappearance, being lost or otherwise made
away with, damage thereto or destruction thereof, and loss of subscription, conversion, redemption
or deposit privileges through the misplacement or loss of Property, while the Property is in
transit anywhere in the custody of any person or persons acting as messenger, except while in the
mail or with a carrier for hire, other than an armored motor vehicle company, for the purpose of
transportation, such transit to begin immediately upon receipt of such Property by the transporting
person or persons, and to end immediately upon delivery thereof at destination.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">(E)&nbsp;FORGERY OR ALTERATION
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loss through FORGERY or ALTERATION of, on or in any bills of exchange, checks, drafts,
acceptances, certificates of deposit. promissory notes, or other written promises, orders or
directions to pay sums certain in money, due bills, money orders, warrants, orders upon public
treasuries, letters of credit, written instructions, advices or applications directed to the
Insured, authorizing or acknowledging the transfer, payment, delivery or receipt of funds or
Property, which instructions or advices or applications purport to have been signed or endorsed by
any customer of the Insured, shareholder or subscriber to shares, whether certificated or
uncertificated, of any Investment Company or by any financial or banking institution or stockbroker
but which instructions, advices or applications either bear the forged signature or endorsement or
have been altered without the knowledge and consent of such customer, shareholder or subscriber to
shares, whether certificated or uncertificated, of an Investment Company, financial or banking
institution or stockbroker, withdrawal orders or receipts for the withdrawal of funds or Property,
or receipts or certificates of deposit for Property and bearing the name of the Insured as issuer,
or of another Investment Company for which the Insured acts as agent, excluding, however, any loss
covered under Insuring Agreement (F)&nbsp;hereof whether or not coverage for Insuring Agreement (F)&nbsp;is
provided for in the Declarations of this bond.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any check or draft (a)&nbsp;made payable to a fictitious payee and endorsed in the name of such
fictitious payee or (b)&nbsp;procured in a transaction with the maker or drawer thereof or with one
acting as an agent of such maker or drawer or anyone impersonating another and made or drawn
payable to the one so impersonated and endorsed by anyone other than the one impersonated, shall be
deemed to be forged as to such endorsement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mechanically reproduced facsimile signatures are treated the same as handwritten signatures.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">(F)&nbsp;SECURITIES
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loss sustained by the Insured, including loss sustained by reason of a violation of the
constitution, by-laws, rules or regulations of any Self Regulatory Organization of which the
Insured is a member or which would have been imposed upon the Insured by the constitution, by-laws,
rules or regulations of any Self Regulatory Organization if the Insured had been a member thereof,
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>through the Insured&#146;s having, in good faith and in the course of business, whether
for its own account or for the account of others, in any representative, fiduciary,
agency or any other capacity, either gratuitously or otherwise, purchased or otherwise
acquired, accepted or received, or sold or delivered, or given any value, extended any
credit or assumed any liability, on the faith of, or otherwise acted upon, any
securities, documents or other written instruments which prove to have been</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->23<!-- /Folio -->
</DIV>

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<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>counterfeited, or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>forged as to the signature of any maker, drawer, issuer, endorser, assignor,
lessee, transfer agent or registrar, acceptor, surety or guarantor or as to the signature
of any person signing in any other capacity, or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>raised or otherwise altered, or lost, or stolen, or</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>through the Insured&#146;s having, in good faith and in the course of business, guaranteed in
writing or witnessed any signatures whether for valuable consideration or not and whether or
not such guaranteeing or witnessing is ultra vires the Insured, upon any transfers,
assignments, bills of sale, powers of attorney, guarantees, endorsements or other obligations
upon or in connection with any securities, documents or other written instruments and which
pass or purport to pass title to such securities, documents or other written instruments;
EXCLUDING, losses caused by FORGERY or ALTERATION of, on or in those instruments covered under
Insuring Agreement (E)&nbsp;hereof.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Securities, documents or other written instruments shall be deemed to mean original (including
original counterparts) negotiable or non-negotiable agreements which in and of themselves
represent an equitable interest, ownership, or debt, including an assignment thereof which
instruments are in the ordinary course of business, transferable by delivery of such
agreements with any necessary endorsement or assignment.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The word &#147;counterfeited&#148; as used in this Insuring Agreement shall be deemed to mean any
security, document or other written instrument which is intended to deceive and to be taken
for an original.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Mechanically produced facsimile signatures are treated the same as handwritten signatures.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">(G)&nbsp;COUNTERFEIT CURRENCY
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loss through the receipt by the Insured, in good faith, of any counterfeited money orders or
altered paper currencies or coin of the United States of America or Canada issued or purporting to
have been issued by the United States of America or Canada or issued pursuant to a United States of
America or Canadian statute for use as currency.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">(H)&nbsp;STOP PAYMENT
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loss against any and all sums which the Insured shall become obligated to pay by reason of the
Liability imposed upon the Insured by law for damages:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">For having either complied with or failed to comply with any written notice of any customer,
shareholder or subscriber of the Insured or any Authorized Representative of such customer,
shareholder or subscriber to stop payment of any check or draft made or drawn by such
customer, shareholder or subscriber or any Authorized Representative of such customer,
shareholder or subscriber, or
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">For having refused to pay any check or draft made or drawn by any customer, shareholder or
subscriber of the Insured or any Authorized Representative of such customer, shareholder or
subscriber.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">(I)&nbsp;UNCOLLECTIBLE ITEMS OF DEPOSIT
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loss resulting from payments of dividends or fund shares, or withdrawals permitted from any
customer&#146;s, shareholder&#146;s or subscriber&#146;s account based upon Uncollectible Items of Deposit of a
customer, shareholder or subscriber credited by the Insured or the Insured&#146;s agent to such
customer&#146;s, shareholder&#146;s or subscriber&#146;s Mutual Fund Account; or
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;loss resulting from any Item of Deposit processed through an Automated Clearing House which is
reversed by the customer, shareholder or subscriber and deemed uncollectible by the Insured.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->24<!-- /Folio -->
</DIV>

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<DIV style="font-family: Helvetica,Arial,sans-serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loss includes dividends and interest accrued not to exceed 15% of the Uncollectible Items
which are deposited.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Insuring Agreement applies to all Mutual Funds with &#147;exchange privileges&#148; if all Fund(s)
in the exchange program are insured by a National Union Fire Insurance Company of Pittsburgh, PA
for Uncollectible Items of Deposit. Regardless of the number of transactions between Fund(s), the
minimum number of days of deposit within the Fund(s) before withdrawal as declared in the Fund(s)
prospectus shall begin from the date a deposit was first credited to any Insured Fund(s).
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>GENERAL AGREEMENTS</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">A. ADDITIONAL OFFICES OR EMPLOYEES-CONSOLIDATION OR MERGER-NOTICE
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>If the Insured shall, while this bond is in force, establish any additional office
or offices, such office or offices shall be automatically covered hereunder from the
dates of their establishment, respectively. No notice to the Underwriter of an increase
during any premium period in the number of offices or in the number of Employees at any
of the offices covered hereunder need be given and no additional premium need be paid for
the remainder of such premium period.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>If an Investment Company, named as Insured herein, shall, while this bond is in
force, merge or consolidate with, or purchase the assets of another institution, coverage
for such acquisition shall apply automatically from the date of acquisition. The Insured
shall notify the Underwriter of such acquisition within 60&nbsp;days of said date, and an
additional premium shall be computed only if such acquisition involves additional offices
or employees.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">B. WARRANTY
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No statement made by or on behalf of the Insured, whether contained in the application or
otherwise, shall be deemed to be a warranty of anything except that it is true to the best of the
knowledge and belief of the person making the statement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">C. COURT COSTS AND ATTORNEYS&#146; FEES
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">(Applicable to all Insuring Agreements or Coverages now or hereafter forming part of this
bond)
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Underwriter will indemnify the Insured against court costs and reasonable attorneys&#146; fees
incurred and paid by the Insured in defense, whether or not successful, whether or not fully
litigated on the merits and whether or not settled of any suit or legal proceeding brought against
the Insured to enforce the Insured&#146;s liability or alleged liability on account of any loss, claim
or damage which, if established against the Insured, would constitute a loss sustained by the
Insured covered under the terms of this bond provided, however, that with respect to Insuring
Agreement (A)&nbsp;this indemnity shall apply only in the event that
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>an Employee admits to being guilty of any dishonest or fraudulent act(s), including
Larceny or Embezzlement; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>an Employee is adjudicated to be guilty of any dishonest or fraudulent act(s),
including Larceny or Embezzlement;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(3)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>in the absence of (1)&nbsp;or (2)&nbsp;above an arbitration panel agrees, after a review of
an agreed statement of facts, that an Employee would be found guilty of dishonesty if
such Employee were prosecuted.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Insured shall promptly give notice to the Underwriter of any such suit or legal proceeding
and at the request of the Underwriter shall furnish it with copies of all pleadings and other
papers therein. At the Underwriter&#146;s election the Insured shall permit the Underwriter to conduct
the defense of such suit or legal proceeding, in the Insured&#146;s name, through attorneys of the
Underwriter&#146;s selection. In such event, the Insured shall give all reasonable information and
assistance which the Underwriter shall deem necessary to the proper defense of such suit or legal
proceeding.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If the amount of the Insured&#146;s liability or alleged
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->25<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">liability is greater than the amount recoverable under this bond, or if a Deductible Amount is
applicable, or both, the liability of the Underwriter under this General Agreement is limited to
the proportion of court costs and attorneys&#146; fees incurred and paid by the Insured or by the
Underwriter that the amount recoverable under this bond bears to the total of such amount plus the
amount which is not so recoverable. Such indemnity shall be in addition to the Limit of Liability
for the applicable Insuring Agreement or Coverage.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">D. FORMER EMPLOYEE
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Acts of an Employee, as defined in this bond, are covered under Insuring Agreement (A)&nbsp;only
while the Employee is in the Insured&#146;s employ. Should loss involving a former Employee of the
Insured be discovered subsequent to the termination of employment, coverage would still apply under
Insuring Agreement (A)&nbsp;if the direct proximate cause of the loss occurred while the former Employee
performed duties within the scope of his/her employment.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>THE FOREGOING INSURING AGREEMENTS AND<BR>
GENERAL AGREEMENTS ARE SUBJECT TO<BR>
THE FOLLOWING CONDITIONS<BR>
AND LIMITATIONS:</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">SECTION 1. DEFINITIONS
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following terms, as used in this bond, shall have the respective meanings stated in this
Section:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;Employee&#148; means:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>any of the Insured&#146;s officers, partners, or employees, and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>any of the officers or employees of any predecessor of the Insured
whose principal assets are acquired by the Insured by consolidation or merger
with, or purchase of assets or capital stock of such predecessor, and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(3)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>attorneys retained by the Insured to perform legal services for the
Insured and the employees of such attorneys while such attorneys or the employees
of such attorneys are performing such services for the Insured, and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(4)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>guest students pursuing their studies or duties in any of the Insured&#146;s
offices, and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(5)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>directors or trustees of the Insured, the investment advisor,
underwriter (distributor), transfer agent, or shareholder accounting record keeper,
or administrator authorized by written agreement to keep financial and/or other
required records, but only while performing acts coming within the scope of the
usual duties of an officer or employee or while acting as a member of any committee
duly elected or appointed to examine or audit or have custody of or access to the
Property of the Insured, and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(6)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>any individual or individuals assigned to perform the usual duties of
an employee within the premises of the Insured, by contract, or by any agency
furnishing temporary personnel on a contingent or part-time basis, and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(7)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>each natural person, partnership or corporation authorized by written
agreement with the Insured to perform services as electronic data processor of
checks or other accounting records of the Insured, but excluding any such processor
who acts as transfer agent or in any other agency capacity in issuing checks,
drafts or securities for the Insured, unless included under Subsection (9)&nbsp;hereof,
and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(8)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>those persons so designated in Section&nbsp;15, Central Handling of
Securities, and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(9)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>any officer, partner or Employee of</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>an investment advisor,</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>an underwriter (distributor),</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>a transfer agent or shareholder accounting record-keeper, or</TD>
</TR>


</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->26<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">d)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>an administrator authorized by written agreement to keep financial and/or other
required records,</TD>
</TR>

</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 10%">for an Investment Company named as Insured while performing acts coming within the scope of the
usual duties of an officer or Employee of any Investment Company named as Insured herein, or while
acting as a member of any committee duly elected or appointed to examine or audit or have custody
of or access to the Property of any such Investment Company, provided that only Employees or
partners of a transfer agent, shareholder accounting record-keeper or administrator which is an
affiliated person as defined in the Investment Company Act of 1940, of an Investment Company named
as Insured or is an affiliated person of the adviser, underwriter or administrator of such
Investment Company, and which is not a bank, shall be included within the definition of Employee.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 10%">Each employer of temporary personnel or processors as set forth in Sub-Sections (6)&nbsp;and of Section
1(a) and their partners, officers and employees shall collectively be deemed to be one person for
all the purposes of this bond, excepting, however, the last paragraph of Section&nbsp;13.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">Brokers, or other agents under contract or representatives of the same general character shall not
be considered Employees.
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;Property&#148; means money (i.e.. currency, coin, bank notes, Federal Reserve notes), postage and
revenue stamps, U.S. Savings Stamps, bullion, precious metals of all kinds and in any form and
articles made therefrom, jewelry, watches, necklaces, bracelets, gems, precious and
semi-precious stones, bonds, securities, evidences of debts, debentures, scrip, certificates,
interim receipts, warrants, rights, puts, calls, straddles, spreads, transfers, coupons,
drafts, bills of exchange, acceptances, notes, checks, withdrawal orders, money orders,
warehouse receipts, bills of lading, conditional sales contracts, abstracts of title,
insurance policies, deeds, mortgages under real estate and/or chattels and upon interests
therein, and assignments of such policies, mortgages and instruments, and other valuable
papers, including books of account and other records used by the Insured in the conduct of its
business, and all other instruments similar to or in the nature of the foregoing including
Electronic Representations of such instruments enumerated above (but excluding all data
processing records) in which the Insured has an interest or in which the Insured acquired or
should have acquired an interest by reason of a predecessor&#146;s declared financial condition at
the time of the Insured&#146;s consolidation or merger with, or purchase of the principal assets
of, such predecessor or which are held by the Insured for any purpose or in any capacity and
whether so held by the Insured for any purpose or in any capacity and whether so held
gratuitously or not and whether or not the Insured is liable therefor.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;Forgery&#148; means the signing of the name of another with intent to deceive; it does not
include the signing of one&#146;s own name with or without authority, in any capacity, for any
purpose.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(d)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;Larceny and Embezzlement&#148; as it applies to any named Insured means those acts as set forth
in Section&nbsp;37 of the Investment Company Act of 1940.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(e)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;Items of Deposit&#148; means any one or more checks and drafts. Items of Deposit shall not be
deemed uncollectible until the Insured&#146;s collection procedures have failed.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">SECTION 2. EXCLUSIONS
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->27<!-- /Folio -->
</DIV>

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<DIV style="font-family: Helvetica,Arial,sans-serif">




<DIV align="left" style="font-size: 10pt; margin-top: 6pt">THIS BOND DOES NOT COVER:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>loss effected directly or indirectly by means of forgery or alteration of, on or in any
instrument, except when covered by Insuring Agreement (A), (E), (F)&nbsp;or (G).</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>loss due to riot or civil commotion outside the United States of America and Canada; or loss
due to military, naval or usurped power, war or insurrection unless such loss occurs in
transit in the circumstances recited in Insuring Agreement (D), and unless, when such transit
was initiated, there was no knowledge of such riot, civil commotion, military, naval or
usurped power, war or insurrection on the part of any person acting for the Insured in
initiating such transit.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>loss, in time of peace or war, directly or indirectly caused by or resulting from the effects
of nuclear fission or fusion or radioactivity; provided, however, that this paragraph shall
not apply to loss resulting from industrial uses of nuclear energy.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(d)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>loss resulting from any wrongful act or acts of any person who is a member of the Board of
Directors of the Insured or a member of any equivalent body by whatsoever name known unless
such person is also an Employee or an elected official, partial owner or partner of the
Insured in some other capacity, nor, in any event, loss resulting from the act or acts of any
person while acting in the capacity of a member of such Board or equivalent body.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(e)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>loss resulting from the complete or partial non-payment of, or default upon, any loan or
transaction in the nature of, or amounting to, a loan made by or obtained from the Insured or
any of its partners, directors or Employees, whether authorized or unauthorized and whether
procured in good faith or through trick, artifice, fraud or false pretenses. unless such loss
is covered under Insuring Agreement (A), (E)&nbsp;or (F).</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(f)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>loss resulting from any violation by the Insured or by any Employee</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>of law regulating (a)&nbsp;the issuance, purchase or sale of securities, (b)&nbsp;securities
transactions upon Security Exchanges or over the counter market, (c)&nbsp;Investment
Companies, or (d)&nbsp;Investment Advisors, or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>of any rule or regulation made pursuant to any such law, unless such loss, in the
absence of such laws, rules or regulations, would be covered under Insuring Agreements
(A)&nbsp;or (E).</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(g)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>loss of Property or loss of privileges through the misplacement or loss of Property as set
forth in Insuring Agreement (C)&nbsp;or (D)&nbsp;while the Property is in the custody of any armored
motor vehicle company, unless such loss shall be in excess of the amount recovered or received
by the Insured under (a)&nbsp;the Insured&#146;s contract with said armored motor vehicle company, (b)
insurance carried by said armored motor vehicle company for the benefit of users of its
service, and (c)&nbsp;all other insurance and indemnity in force in whatsoever form carried by or
for the benefit of users of said armored motor vehicle company&#146;s service, and then this bond
shall cover only such excess.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(h)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>potential income, including but not limited to interest and dividends, not realized by the
Insured because of a loss covered under this bond, except as included under Insuring Agreement
(I).</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(i)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>all damages of any type for which the Insured is legally liable, except direct compensatory
damages arising from a loss covered under this bond.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(j)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>loss through the surrender of Property away from an office of the Insured as a result of a
threat</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>to do bodily harm to any person, except loss of Property in transit in the custody
of any person acting as messenger provided that when such transit was initiated there was
no knowledge by the Insured of any such threat, or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>to do damage to the premises or Property of the Insured, except when</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->28<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #textcolor#; background: #bgcolor#">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>covered under Insuring Agreement (A).</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(k)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>all costs, fees and other expenses incurred by the Insured in establishing the existence of
or amount of loss covered under this bond unless such indemnity is provided for under Insuring
Agreement (B).</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(l)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>loss resulting from payments made or withdrawals from the account of a customer of the
Insured, shareholder or subscriber to shares involving funds erroneously credited to such
account, unless such payments are made to or withdrawn by such depositor or representative of
such person, who is within the premises of the drawee bank of the Insured or within the office
of the Insured at the time of such payment or withdrawal or unless such payment is covered
under Insuring Agreement (A).</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(m)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>any loss resulting from Uncollectible Items of Deposit which are drawn from a financial
institution outside the fifty states of the United States of America, District of Columbia,
and territories and possessions of the United States of America, and Canada.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">SECTION 3. ASSIGNMENT OF RIGHTS
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This bond does not afford coverage in favor of any Employers of temporary personnel or of
processors as set forth in sub-sections (6)&nbsp;and (7)&nbsp;of Section 1(a) of this bond, as aforesaid, and
upon payment to the Insured by the Underwriter on account of any loss through dishonest or
fraudulent act(s) including Larceny or Embezzlement committed by any of the partners, officers or
employees of such Employers, whether acting alone or in collusion with others, an assignment of
such of the Insured&#146;s rights and causes of action as it may have against such Employers by reason
of such acts so committed shall, to the extent of such payment, be given by the Insured to the
Underwriter, and the Insured shall execute all papers necessary to secure to the Underwriter the
rights herein provided for.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">SECTION 4. LOSS -NOTICE -PROOF-LEGAL PROCEEDINGS
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This bond is for the use and benefit only of the Insured named in the Declarations and the
Underwriter shall not be liable hereunder for loss sustained by anyone other than the Insured
unless the Insured, in its sole discretion and at its option, shall include such loss in the
Insured&#146;s proof of loss. At the earliest practicable moment after discovery of any loss hereunder
the Insured shall give the Underwriter written notice thereof and shall also within six months
after such discovery furnish to the Underwriter affirmative proof of loss with full particulars. If
claim is made under this bond for loss of securities or shares, the Underwriter shall not be liable
unless each of such securities or shares is identified in such proof of loss by a certificate or
bond number or, where such securities or shares are uncertificated, by such identification means as
agreed to by the Underwriter. The Underwriter shall have thirty days after notice and proof of loss
within which to investigate the claim, but where the loss is clear and undisputed, settlement shall
be made within forty-eight hours; and this shall apply notwithstanding the loss is made up wholly
or in part of securities of which duplicates may be obtained. Legal proceedings for recovery of any
loss hereunder shall not be brought prior to the expiration of sixty days after such proof of loss
is filed with the Underwriter nor after the expiration of twenty-four months from the discovery of
such loss, except that any action or proceeding to recover hereunder on account of any judgment
against the Insured in any suit mentioned in General Agreement C or to recover attorneys&#146; fees paid
in any such suit, shall be begun within twenty-four months from the date upon which the judgment in
such suit shall become final. If any limitation embodied in this bond is prohibited by any law
controlling the construction hereof, such limitation shall be deemed to be amended so as to be
equal to the minimum period of limitation permitted by such law.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Discovery occurs when the Insured
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>becomes aware of facts, or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>receives written notice of an actual or potential claim by a third party which
alleges that the Insured is liable under circumstance</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">which would cause a reasonable person to assume that a loss covered by the bond has been or will be
</DIV>



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</DIV>



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<DIV style="font-family: Helvetica,Arial,sans-serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">incurred even though the exact amount or details of loss may not be then known.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">SECTION 5. VALUATION OF PROPERTY
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The value of any Property, except books of accounts or other records used by the Insured in
the conduct of its business, for the loss of which a claim shall be made hereunder, shall be
determined by the average market value of such Property on the business day next preceding the
discovery of such loss; provided, however, that the value of any Property replaced by the Insured
prior to the payment of claim therefor shall be the actual market value at the time of replacement;
and further provided that in case of a loss or misplacement of interim certificates, warrants,
rights, or other securities, the production which is necessary to the exercise of subscription,
conversion, redemption or deposit privileges, the value thereof shall be the market value of such
privileges immediately preceding the expiration thereof if said loss or misplacement is not
discovered until after their expiration. If no market price is quoted for such Property or for such
privileges, the value shall be fixed by agreement between the parties or by arbitration.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In case of any loss or damage to Property consisting of books of accounts or other records
used by the Insured in the conduct of its business, the Underwriter shall be liable under this bond
only if such books or records are actually reproduced and then for not more than the cost of blank
books, blank pages or other materials plus the cost of labor for the actual transcription or
copying of data which shall have been furnished by the Insured in order to reproduce such books and
other records.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">SECTION 6. VALUATION OF PREMISES AND FURNISHINGS
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In case of damage to any office of the Insured, or loss of or damage to the furnishings,
fixtures, stationery, supplies, equipment, safes or vaults therein, the Underwriter shall not be
liable for more than the actual cash value thereof, or for more than the actual cost of their
replacement or repair. The Underwriter may, at its election, pay such actual cash value or make
such replacement or repair. If the Underwriter and the Insured cannot agree upon such cash value or
such cost of replacement or repair, such shall be determined by arbitration.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">SECTION 7. LOST SECURITIES
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If the Insured shall sustain a loss of securities the total value of which is in excess of the
limit stated in Item&nbsp;3 of the Declarations of this bond, the liability of the Underwriter shall be
limited to payment for, or duplication of, securities having value equal to the limit stated in
Item&nbsp;3 of the Declarations of this bond.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If the Underwriter shall make payment to the Insured for any loss of securities, the Insured
shall thereupon assign to the Underwriter all of the Insured&#146;s rights, title and interests in and
to said securities.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;With respect to securities the value of which do not exceed the Deductible Amount (at the time
of the discovery of the loss) and for which the Underwriter may at its sole discretion and option
and at the request of the Insured issue a Lost Instrument Bond or Bonds to effect replacement
thereof, the Insured will pay the usual premium charged therefor and will indemnify the Underwriter
against all loss or expense that the Underwriter may sustain because of the issuance of such Lost
Instrument Bond or Bonds.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;With respect to securities the value of which exceeds the Deductible Amount (at the time of
discovery of the loss) and for which the Underwriter may issue or arrange for the issuance of a
Lost Instrument Bond or Bonds to effect replacement thereof, the Insured agrees that it will pay as
premium therefor a proportion of the usual premium charged therefor, said proportion being equal to
the percentage that the Deductible Amount bears to the value of the securities upon discovery of
the loss, and that it will indemnify the issuer of said Lost Instrument Bond or Bonds against all
loss and expense that is not recoverable from the Underwriter under the terms and conditions of
this INVESTMENT COMPANY BLANKET BOND subject to the Limit of Liability hereunder.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">SECTION 8. SALVAGE
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In case of recovery, whether made by the Insured or by the Underwriter, on account of any loss
in excess of the Limit of Liability hereunder plus the Deductible Amount applicable to such loss
from any
</DIV>

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</DIV>

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<DIV style="font-family: Helvetica,Arial,sans-serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">source other than suretyship, insurance, reinsurance, security or indemnity taken by or for the
benefit of the Underwriter, the net amount of such recovery, less the actual costs and expenses of
making same, shall be applied to reimburse the Insured in full for the excess portion of such loss,
and the remainder, if any, shall be paid first in reimbursement of the Underwriter and thereafter
in reimbursement of the Insured for that part of such loss within the Deductible Amount. The
Insured shall execute all necessary papers to secure to the Underwriter the rights provided for
herein.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">SECTION 9. NON-REDUCTION AND NON- ACCUMULATION OF LIABILITY AND TOTAL LIABILITY
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At all times prior to termination hereof this bond shall continue in force for the limit
stated in the applicable sections of Item&nbsp;3 of the Declarations of this bond notwithstanding any
previous loss for which the Underwriter may have paid or be liable to pay hereunder; PROVIDED,
however, that regardless of the number of years this bond shall continue in force and the number of
premiums which shall be payable or paid, the liability of the Underwriter under this bond with
respect to all loss resulting from
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>any one act of burglary, robbery or holdup, or attempt thereat, in which no Partner
or Employee is concerned or implicated shall be deemed to be one loss, or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>any one unintentional or negligent act on the part of any one person resulting in
damage to or destruction or misplacement of Property, shall be deemed to be one loss, or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>all wrongful acts, other than those specified in (a)&nbsp;above, of any one person shall
be deemed to be one loss, or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(d)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>all wrongful acts, other than those specified in (a)&nbsp;above, of one or more persons
(which dishonest act(s) or act(s) of Larceny or Embezzlement include, but are not limited
to, the failure of an Employee to report such acts of others) whose dishonest act or acts
intentionally or unintentionally, knowingly or unknowingly, directly or indirectly, aid
or aids in any way, or permits the continuation of, the dishonest act or acts of any
other person or persons shall be deemed to be one loss with the act or acts of the
persons aided, or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(e)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>any one casualty or event other than those specified in (a), (b), (c)&nbsp;or (d)
preceding, shall be deemed to be one loss, and</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">shall be limited to the applicable Limit of Liability stated in Item&nbsp;3 of the Declarations of this
bond irrespective of the total amount of such loss or losses and shall not be cumulative in amounts
from year to year or from period to period.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sub-section (c)&nbsp;is not applicable to any situation to which the language of sub-section (d)
applies.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">SECTION 10. LIMIT OF LIABILITY
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;With respect to any loss set forth in the PROVIDED clause of Section&nbsp;9 of this bond which is
recoverable or recovered in whole or in part under any other bonds or policies issued by the
Underwriter to the Insured or to any predecessor in interest of the Insured and terminated or
cancelled or allowed to expire and in which the period for discovery has not expired at the time
any such loss thereunder is discovered, the total liability of the Underwriter under this bond and
under other bonds or policies shall not exceed, in the aggregate, the amount carried hereunder on
such loss or the amount available to the Insured under such other bonds or policies, as limited by
the terms and conditions thereof, for any such loss if the latter amount be the larger.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">SECTION 11. OTHER INSURANCE
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If the Insured shall hold, as indemnity against any loss covered hereunder, any valid and
enforceable insurance or suretyship, the Underwriter shall be liable hereunder only for such amount
of such loss which is in excess of the amount of such other insurance or suretyship, not exceeding,
however, the Limit of Liability of this bond applicable to such loss.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">SECTION 12. DEDUCTIBLE
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Underwriter shall not be liable under any of the Insuring Agreements of this bond on
account of loss as specified, respectively, in sub-sections (a), (b), (c), (d)&nbsp;and (e)&nbsp;of Section
9, NON-REDUCTION AND NON- ACCUMULATION OF LIABILITY AND
</DIV>

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</DIV>

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<DIV style="font-family: Helvetica,Arial,sans-serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">TOTAL LIABILITY, unless the amount of such loss, after deducting the net amount of all
reimbursement and/or recovery obtained or made by the Insured, other than from any bond or policy
of insurance issued by an insurance company and covering such loss, or by the Underwriter on
account thereof prior to payment by the Underwriter of such loss, shall exceed the Deductible
Amount set forth in Item&nbsp;3 of the Declarations hereof (herein called Deductible Amount) and then
for such excess only, but in no event for more than the applicable Limit of Liability stated in
Item&nbsp;3 of the Declarations.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Insured will bear, in addition to the Deductible Amount, premiums on Lost Instrument Bonds
as set forth in Section&nbsp;7.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;There shall be no deductible applicable to any loss under Insuring Agreement A sustained by
any Investment Company named as Insured herein.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">SECTION 13. TERMINATION
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Underwriter may terminate this bond as an entirety by furnishing written notice specifying
the termination date which cannot be prior to 60&nbsp;days after the receipt of such written notice by
each Investment Company named as Insured and the Securities and Exchange Commission, Washington,
D.C. The Insured may terminate this bond as an entirety by furnishing written notice to the
Underwriter. When the Insured cancels, the Insured shall furnish written notice to the Securities
and Exchange Commission, Washington. D.C. prior to 60&nbsp;days before the effective date of the
termination. The Underwriter shall notify all other Investment Companies named as Insured of the
receipt of such termination notice and the termination cannot be effective prior to 60&nbsp;days after
receipt of written notice by all other Investment Companies. Premiums are earned until the
termination date as set forth herein.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Bond will terminate as to any one Insured immediately upon taking over of such Insured by
a receiver or other liquidator or by State or Federal officials, or immediately upon the filing of
a petition under any State or Federal statute relative to bankruptcy or reorganization of the
Insured, or assignment for the benefit of creditors of the Insured. or immediately upon such
Insured ceasing to exist, whether through merger into another entity, or by disposition of all of
its assets.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Underwriter shall refund the unearned premium computed at short rates in accordance with
the standard short rate cancellation tables if terminated by the Insured or pro rata if terminated
for any other reason.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Bond shall terminate
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>as to any Employee as soon as any partner, officer or supervisory Employee of the
Insured, who is not in collusion with such Employee, shall learn of any dishonest or
fraudulent act(s), including Larceny or Embezzlement on the part of such Employee without
prejudice to the loss of any Property then in transit in the custody of such Employee
(See Section&nbsp;16&#091;d&#093;), or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>as to any Employee 60&nbsp;days after receipt by each Insured and by the Securities and
Exchange Commission of a written notice from the Underwriter of its desire to terminate
this bond as to such Employee, or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>as to any person, who is a partner, officer or employee of any Electronic Data
Processor covered under this bond, from and after the time that the Insured or any
partner or officer thereof not in collusion with such person shall have knowledge or
information that such person has committed any dishonest or fraudulent act(s), including
Larceny or Embezzlement in the service of the Insured or otherwise, whether such act be
committed before or after the time this bond is effective.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">SECTION 14. RIGHTS AFTER TERMINATION OR CANCELLATION
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At any time prior to the termination or cancellation of this bond as an entirety, whether by
the Insured or the Underwriter, the Insured may give to the Underwriter notice that it desires
under this bond an additional period of 12&nbsp;months within which to discover loss sustained by the
Insured prior to the
</DIV>

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</DIV>

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<DIV style="font-family: Helvetica,Arial,sans-serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">effective date of such termination or cancellation and shall pay an additional premium therefor.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon receipt of such notice from the Insured, the Underwriter shall give its written consent
thereto; provided, however, that such additional period of time shall terminate immediately;
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>on the effective date of any other insurance obtained by the Insured, its successor
in business or any other party, replacing in whole or in part the insurance afforded by
this bond, whether or not such other insurance provides coverage for loss sustained prior
to its effective date, or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>upon takeover of the Insured&#146;s business by any State or Federal official or agency,
or by any receiver or liquidator, acting or appointed for this purpose</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">without the necessity of the Underwriter giving notice of such termination. In the event that such
additional period of time is terminated, as provided above, the Underwriter shall refund any
unearned premium.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The right to purchase such additional period for the discovery of loss may not be exercised by
any State or Federal official or agency, or by any receiver or liquidator, acting or appointed to
take over the Insured&#146;s business for the operation or for the liquidation thereof or for any other
purpose.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">SECTION 15. CENTRAL HANDLING OF SECURITIES
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Securities included in the systems for the central handling of securities established and
maintained by Depository Trust Company, Midwest Depository Trust Company, Pacific Securities
Depository Trust Company, and Philadelphia Depository Trust Company, hereinafter called
Corporations, to the extent of the Insured&#146;s interest therein as effective by the making of
appropriate entries on the books and records of such Corporations shall be deemed to be Property.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The words &#147;Employee&#148; and &#147;Employees&#148; shall be deemed to include the officers, partners, clerks
and other employees of the New York Stock Exchange, Boston Stock Exchange, Midwest Stock Exchange,
Pacific Stock Ex- change and Philadelphia Stock Exchange, hereinafter called Exchanges, and of the
above named Corporations, and of any nominee in whose name is registered any security included
within the systems for the central handling of securities established and maintained by such
Corporations, and any employee of any recognized service company, while such officers, partners,
clerks and other employees and employees of service companies perform services for such
Corporations in the operation of such systems. For the purpose of the above definition a recognized
service company shall be any company providing clerks or other personnel to said Exchanges or
Corporation on a contract basis.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Underwriter shall not be liable on account of any loss(es) in connection with the central
handling of securities within the systems established and maintained by such Corporations, unless
such loss(es) shall be in excess of the amount(s) recoverable or recovered under any bond or policy
of insurance indemnifying such Corporations, against such loss(es), and then the Underwriter shall
be liable hereunder only for the Insured&#146;s share of such excess loss(es), but in no event for more
than the Limit of Liability applicable hereunder.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For the purpose of determining the Insured&#146;s share of excess loss(es) it shall be deemed that
the Insured has an interest in any certificate representing any security included within such
systems equivalent to the interest the Insured then has in all certificates representing the same
security included within such systems and that such Corporations shall use their best judgement in
apportioning the amount(s) recoverable or recovered under any bond or policy of insurance
indemnifying such Corporations against such loss(es) in connection with the central handling of
securities within such systems among all those having an interest as recorded by appropriate
entries in the books and records of such Corporations in Property involved in such loss(es) on the
basis that each such interest shall share in the amount(s) so recoverable or recovered in the ratio
that the value of each such interest bears to the total value of all such interests and that the
Insured&#146;s share of such excess loss(es) shall be the amount of the Insured&#146;s interest in such
Property in excess of the amount(s) so apportioned to the Insured by such Corporations.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This bond does not afford coverage in favor of such Corporations or Exchanges or any nominee
in whose name is registered any security included within the systems for the central handling of
securities established and maintained by such Corporations, and upon payment to the Insured by the
Underwriter on account of any loss(es) within the systems, an
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->33<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">assignment of such of the Insured&#146;s rights and causes of action as it may have against such
Corporations or Exchanges shall to the extent of such payment, be given by the Insured to the
Underwriter, and the Insured shall execute all papers necessary to secure to the Underwriter the
rights provided for herein.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">SECTION 16. ADDITIONAL COMPANIES INCLUDED AS INSURED
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If more than one corporation, co-partnership or person or any combination of them be included
as the Insured herein:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the total liability of the Underwriter hereunder for loss or losses sustained by
any one or more or all of them shall not exceed the limit for which the Underwriter would
be liable hereunder if all such loss were sustained by any one of them,</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the one first named herein shall be deemed authorized to make, adjust and receive
and enforce payment of all claims hereunder and shall be deemed to be the agent of the
others for such purposes and for the giving or receiving of any notice required or
permitted to be given by the terms hereof, provided that the Underwriter shall furnish
each named Investment Company with a copy of the bond and with any amendment thereto,
together with a copy of each formal filing of the settlement of each such claim prior to
the execution of such settlement,</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the Underwriter shall not be responsible for the proper application of any payment
made hereunder to said first named Insured,</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(d)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>knowledge possessed or discovery made by any partner, officer or supervisory
Employee of any Insured shall for the purposes of Section&nbsp;4 and Section&nbsp;13 of this bond
constitute knowledge or discovery by all the Insured, and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(e)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>if the first named Insured ceases for any reason to be covered under this bond,
then the Insured next named shall thereafter be considered as the first named Insured for
the purposes of this bond.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">SECTION 17. NOTICE AND CHANGE OF CONTROL
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon the Insured&#146;s obtaining knowledge of a transfer of its outstanding voting securities
which results in a change in control (as set forth in Section 2(a) (9)&nbsp;of the Investment Company
Act of 1940) of the Insured, the Insured shall within thirty (30)&nbsp;days of such knowledge give
written notice to the Underwriter setting forth:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the names of the transferors and transferees (or the names of the beneficial owners
if the voting securities are requested in another name), and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the total number of voting securities owned by the transferors and the transferees
(or the beneficial owners), both immediately before and after the transfer, and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the total number of outstanding voting securities.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As used in this section, control means the power to exercise a controlling influence over the
management or policies of the Insured.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Failure to give the required notice shall result in termination of coverage of this bond,
effective upon the date of stock transfer for any loss in which any transferee is concerned or
implicated.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Such notice is not required to be given in the case of an Insured which is an Investment
Company.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">SECTION 18. CHANGE OR MODIFICATION
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This bond or any instrument amending or effecting same may not be changed or modified orally.
No changes in or modification thereof shall be effective unless made by written endorsement issued
to form a part hereof over the signature of the Underwriter&#146;s Authorized Representative. When a
bond covers only one Investment Company no change or modification which would adversely affect the
rights of the Investment Company shall be effective prior to 60&nbsp;days after written notification has
been furnished to the Securities and Exchange Commission, Washington, D.C. by the Insured or by the
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->34<!-- /Folio -->
</DIV>
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Underwriter. If more than one Investment Company is named as the Insured herein, the Underwriter
shall give written notice to each Investment Company and to the Securities and Exchange Commission,
Washington, D.C. not less than 60&nbsp;days prior to the effective date of any change or modification
which would adversely affect the rights of such Investment Company.
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">IN WITNESS WHEREOF, the Underwriter has caused this bond to be executed on the Declarations Page.
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->35<!-- /Folio -->
</DIV>
</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>y00356bexv99w2.htm
<DESCRIPTION>EX-99.2: EXECUTED JOINT FIDELITY BOND AGREEMENT
<TEXT>
<HTML>
<HEAD>
<TITLE>EX-99.2</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="right" style="font-size: 10pt; margin-top: 12pt">Exhibit&nbsp;2
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><U><B>AGREEMENT AMONG JOINT INSUREDS</B></U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;THIS AGREEMENT made as of July&nbsp;1, 2008 by and among Allianz Funds, Premier VIT, PIMCO
Municipal Advantage Fund Inc., Fixed Income SHares, PIMCO Municipal Income Fund, PIMCO California
Municipal Income Fund, PIMCO New York Municipal Income Fund, PIMCO Corporate Income Fund, PIMCO
Municipal Income Fund II, PIMCO California Municipal Income Fund II, PIMCO New York Municipal
Income Fund II, PIMCO Municipal Income Fund III, PIMCO California Municipal Income Fund III, PIMCO
New York Municipal Income Fund III, PIMCO Corporate Opportunity Fund, Nicholas-Applegate
Convertible &#038; Income Fund, PIMCO High Income Fund, Nicholas-Applegate Convertible &#038; Income Fund II,
PIMCO Floating Rate Income Fund, PIMCO Floating Rate Strategy Fund, NFJ Dividend, Interest &#038;
Premium Strategy Fund, Nicholas-Applegate International &#038; Premium Strategy Fund, PIMCO Global
StocksPLUS &#038; Income Fund, Nicholas-Applegate Equity &#038; Convertible Income Fund, Nicholas-Applegate
Global Equity &#038; Convertible Income Fund, PIMCO Income Opportunity Fund, PCM Fund Inc., PIMCO
Strategic Global Government Fund Inc. and Allianz Funds: Multi-Strategy Trust (each a &#147;Trust&#148;), on
behalf of each Trust&#146;s respective series of shares (the &#147;Funds&#148;).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, each of the Trusts and Funds have investment advisers which are affiliates of each
other (each such firm, and any other advisory firm that is an affiliate of such firms, an
&#147;Affiliated Manager&#148;)
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, the Trusts and Funds are named as insureds under a joint Investment Company Blanket
Bond (the &#147;Bond&#148;) issued by National Union Fire Insurance Company, Great American Insurance
Company, and U.S. Fire Insurance Company (collectively, the &#147;Insurers&#148;);
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, the Trusts desire to establish (i)&nbsp;the basis on which additional investment companies
for which an Affiliated Manager may hereafter act as investment adviser may be
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->1<!-- /Folio -->
</DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">added as named insureds under the Bond, and (ii)&nbsp;the criteria by which recoveries under the Bond
shall be allocated among the parties;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NOW, THEREFORE, it is agreed as follows:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If the Insurers are willing without additional premium to add, as an insured under the
Bond, any investment company, not listed at the head of this agreement for which an Affiliated
Manager hereafter is investment adviser, which may be included in the Bond pursuant to Rule
17g-1(b) under the Investment Company Act of 1940, as amended, and the rules and regulations
thereunder (the &#147;Act&#148;), the Trusts agree (a)&nbsp;that such addition may be made, provided that those
trustees of each Trust who are not &#147;interested persons&#148; of such Trust shall approve such addition,
and (b)&nbsp;that such investment company may become a party to this agreement and be included within
the terms &#147;Trust,&#148; &#147;Fund,&#148; or &#147;party,&#148; provided that in each case such investment company shall
have executed and delivered to the Trusts its written agreement to become a party hereto and to be
bound by the terms of this Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In the event that the claims of loss of two or more insureds under the Bond are so related
that the Insurers are entitled to assert that the claims must be aggregated, each Fund shall
receive an equitable and proportionate share of the recovery, but at least equal to the amount it
would have received had it provided and maintained a single insured bond with the minimum coverage
required under Rule&nbsp;17g-1 under the Act.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A copy of the Agreement and Declaration of Trust or Trust Instrument of each Trust is on
file with the Secretary of State of the state in which such Trust was organized, and notice is
hereby given that this instrument is executed on behalf of the Trustees of each Trust as Trustees
and not individually and that the obligations under this instrument are not binding upon any of the
Trustees or holders of shares of beneficial interest of any Trust or Fund individually but are
binding only upon the respective assets and property of each Trust and Fund.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->2<!-- /Folio -->
</DIV>
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IN WITNESS WHEREOF the parties have caused these presents to be executed by their officers
hereunto duly authorized all as of the day and year first above written.
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left" nowrap><B>Premier VIT<BR>
PIMCO Municipal Advantage Fund Inc.<BR>
Fixed Income SHares<BR>
PIMCO Municipal Income Fund<BR>
PIMCO California Municipal Income Fund<BR>
PIMCO New York Municipal Income Fund<BR>
PIMCO Corporate Income Fund<BR>
PIMCO Municipal Income Fund II<BR>
PIMCO California Municipal Income Fund II<BR>
PIMCO New York Municipal Income Fund II<BR>
PIMCO Municipal Income Fund III<BR>
PIMCO California Municipal Income Fund III<BR>
PIMCO New York Municipal Income Fund III<BR>
PIMCO Corporate Opportunity Fund<BR>
Nicholas-Applegate Convertible &#038; Income Fund<BR>
PIMCO High Income Fund<BR>
Nicholas-Applegate Convertible &#038; Income Fund II<BR>
PIMCO Floating Rate Income Fund<BR>
PIMCO Floating Rate Strategy Fund<BR>
NFJ Dividend, Interest &#038; Premium Strategy Fund<BR>
Nicholas-Applegate International &#038; Premium Strategy Fund<BR>
PIMCO Global StocksPLUS &#038; Income Fund<BR>
Nicholas-Applegate Equity &#038; Convertible Income Fund<BR>
Nicholas-Applegate Global Equity &#038; Convertible Income Fund<BR>
PIMCO Income Opportunity Fund<BR>
PCM Fund Inc.<BR>
PIMCO Strategic Global Government Fund Inc.</B><BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ Brian S. Shlissel
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Brian S. Shlissel&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">President and CEO&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left"><B>Allianz Funds<BR>
Allianz Funds: Multi-Strategy Trust</B><BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ Brian S. Shlissel
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Brian S. Shlissel&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Treasurer, Principal Financial and Accounting Officer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>

<P align="center" style="font-size: 10pt"><!-- Folio -->3<!-- /Folio -->
</DIV>
</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.3
<SEQUENCE>4
<FILENAME>y00356bexv99w3.htm
<DESCRIPTION>EX-99.3: COPY OF RESOLUTIONS OF A MAJORITY OF TRUSTEES/DIRECTORS
<TEXT>
<HTML>
<HEAD>
<TITLE>EX-99.3</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV align="right" style="font-size: 10pt">Exhibit 3
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Certificate of Secretary</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>PIMCO MUNICIPAL INCOME FUND (&#147;PMF&#148;)<BR>
PIMCO CALIFORNIA MUNICIPAL INCOME FUND (&#147;PCQ&#148;)<BR>
PIMCO NEW YORK MUNICIPAL INCOME FUND (&#147;PNF&#148;)<BR>
PIMCO CORPORATE INCOME FUND (&#147;PCN&#148;)<BR>
PIMCO MUNICIPAL INCOME FUND II (&#147;PML&#148;)<BR>
PIMCO CALIFORNIA MUNICIPAL INCOME FUND II (&#147;PCK&#148;)<BR>
PIMCO NEW YORK MUNICIPAL INCOME FUND II (&#147;PNI&#148;)<BR>
PIMCO MUNICIPAL INCOME FUND III (&#147;PMX&#148;)<BR>
PIMCO CALIFORNIA MUNICIPAL INCOME FUND III (&#147;PZC&#148;)<BR>
PIMCO NEW YORK MUNICIPAL INCOME FUND III (&#147;PYN&#148;)<BR>
PIMCO CORPORATE OPPORTUNITY FUND (&#147;PTY&#148;)<BR>
NICHOLAS-APPLEGATE CONVERTIBLE &#038; INCOME FUND (&#147;NCV&#148;)<BR>
PIMCO HIGH INCOME FUND (&#147;PHK&#148;)<BR>
NICHOLAS-APPLEGATE CONVERTIBLE &#038; INCOME FUND II (&#147;NCZ&#148;)<BR>
PIMCO FLOATING RATE INCOME FUND (&#147;PFL&#148;)<BR>
PIMCO FLOATING RATE STRATEGY FUND (&#147;PFN&#148;)<BR>
NFJ DIVIDEND, INTEREST &#038; PREMIUM STRATEGY FUND (&#147;NFJ&#148;)<BR>
NICHOLAS-APPLEGATE INTERNATIONAL &#038; PREMIUM STRATEGY FUND (&#147;NAI&#148;)<BR>
PIMCO GLOBAL STOCKSPLUS &#038; INCOME FUND (&#147;PGP&#148;)<BR>
PIMCO MUNICIPAL ADVANTAGE FUND INC. (&#147;MAF&#148;)<BR>
NICHOLAS-APPLEGATE EQUITY &#038; CONVERTIBLE INCOME FUND (&#147;NIE&#148;)<BR>
NICHOLAS-APPLEGATE GLOBAL EQUITY &#038; CONVERTIBLE INCOME FUND (&#147;NGZ&#148;)<BR>
PIMCO INCOME OPPORTUNITY FUND (&#147;PKO&#148;)<BR>
PCM FUND INC. (&#147;PCM&#148;)<BR>
PIMCO STRATEGIC GOVERNMENT GLOBAL FUND INC. (&#147;RCS&#148;)<BR>
FIXED INCOME SHARES (&#147;FISH&#148;)<BR>
ALLIANZ FUNDS MULTI-STRATEGY TRUST (&#147;MST&#148;)<BR>
(collectively, the &#147;Funds&#148;)</B>

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>Regarding Fidelity Bond</B>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned, being the duly elected, qualified and acting Secretary of the above
referenced Funds, each a business trust organized under the laws of the Commonwealth of
Massachusetts (except MAF, PCM and RCS) which are Maryland Corporations), hereby certifies that
attached hereto is a true and complete copy of resolutions that were approved in substantially the
form attached hereto by the Board of Trustees of the Funds at a meeting held on June&nbsp;10-11, 2008,
at which a quorum was present and voted in favor thereof, and that said resolutions have not been
revoked or amended and are now in full force and effect.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IN WITNESS WHEREOF, the undersigned has executed this certificate as Secretary of the above
mentioned Funds on this 23<SUP style="font-size: 85%; vertical-align: text-top">rd</SUP> day of October, 2008.
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" style="border-bottom: 0px solid #000000" align="left">                                    <IMG src="y00356by0035602.gif" alt="-s- Thomas J. Fuccillo">
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">Thomas J. Fuccillo&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">Secretary&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt"><!-- Folio -->1<!-- /Folio -->
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>

</TABLE>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>PIMCO MUNICIPAL INCOME FUND (&#147;PMF&#148;)<BR>
PIMCO CALIFORNIA MUNICIPAL INCOME FUND (&#147;PCQ&#148;)<BR>
PIMCO NEW YORK MUNICIPAL INCOME FUND (&#147;PNF&#148;)<BR>
PIMCO CORPORATE INCOME FUND (&#147;PCN&#148;)<BR>
PIMCO MUNICIPAL INCOME FUND II (&#147;PML&#148;)<BR>
PIMCO CALIFORNIA MUNICIPAL INCOME FUND II (&#147;PCK&#148;)<BR>
PIMCO NEW YORK MUNICIPAL INCOME FUND II (&#147;PNI&#148;)<BR>
PIMCO MUNICIPAL INCOME FUND III (&#147;PMX&#148;)<BR>
PIMCO CALIFORNIA MUNICIPAL INCOME FUND III (&#147;PZC&#148;)<BR>
PIMCO NEW YORK MUNICIPAL INCOME FUND III (&#147;PYN&#148;)<BR>
PIMCO CORPORATE OPPORTUNITY FUND (&#147;PTY&#148;)<BR>
NICHOLAS-APPLEGATE CONVERTIBLE &#038; INCOME FUND (&#147;NCV&#148;)<BR>
PIMCO HIGH INCOME FUND (&#147;PHK&#148;)<BR>
NICHOLAS-APPLEGATE CONVERTIBLE &#038; INCOME FUND II (&#147;NCZ&#148;)<BR>
PIMCO FLOATING RATE INCOME FUND (&#147;PFL&#148;)<BR>
PIMCO FLOATING RATE STRATEGY FUND (&#147;PFN&#148;)<BR>
NFJ DIVIDEND, INTEREST &#038; PREMIUM STRATEGY FUND (&#147;NFJ&#148;)<BR>
NICHOLAS-APPLEGATE INTERNATIONAL &#038; PREMIUM STRATEGY FUND (&#147;NAI&#148;)<BR>
PIMCO GLOBAL STOCKSPLUS &#038; INCOME FUND (&#147;PGP&#148;)<BR>
PIMCO MUNICIPAL ADVANTAGE FUND INC. (&#147;MAF&#148;)<BR>
NICHOLAS-APPLEGATE EQUITY &#038; CONVERTIBLE INCOME FUND (&#147;NIE&#148;)<BR>
NICHOLAS-APPLEGATE GLABAL EQUITY &#038; CONVERTIBLE INCOME FUND (&#147;NGZ&#148;)<BR>
PIMCO INCOME OPPORTUNITY FUND (&#147;PKO&#148;)<BR>
PCM FUND INC. (&#147;PCM&#148;)<BR>
PIMCO STRATEGIC GOVERNMENT GLOBAL FUND INC. (&#147;RCS&#148;)<BR>
FIXED INCOME SHARES (&#147;FISH&#148;)<BR>
ALLIANZ FUNDS MULTI-STRATEGY TRUST (&#147;MST&#148;)<BR>
(each, a &#147;Fund&#148; and collectively, the &#147;Funds&#148;)</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">Minutes of the Joint Meeting of the Boards of Trustees held on June&nbsp;10-11, 2008

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U>Approval of Fidelity Bond Coverage and Agreement Among Joint Insureds</U>
</DIV>




<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%"><B>RESOLVED</B>, that, after considering all relevant factors, the action of the Funds in
joining Allianz Funds and Premier VIT in a joint Investment Company Blanket Bond to
be issued by a consortium of insurers covering larceny and embezzlement and certain
other acts, with a limit of liability of $70.5&nbsp;million, or such amount as is
necessary to cover the addition of new funds to the Investment Company Blanket
Bond, for an aggregate one-year premium of an amount to be determined by Allianz
Global
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->2<!-- /Folio -->
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">Investors Funds Management LLC once an aggregate premium figure is provided by the
insurance companies, plus any additional amount as may be necessary to cover the
addition of new funds to the Investment Company Blanket Bond, be and it is hereby
approved, each Funds&#146; share of the premium to be no greater than a pro rata amount
based on the gross assets of the named insured.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%"><B>RESOLVED</B>, that pursuant to Rule&nbsp;17g-1 under the Investment Company Act of 1940, as
amended, the officers of the Funds are each hereby designated as an agent for the
Funds to make the filings and give the notices required by subparagraph (g)&nbsp;of said
Rule.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%"><B>RESOLVED</B>, that the officers of the Funds, are each hereby authorized to approve
insurers included in the consortium referenced in the forgoing resolution, with
their approval deemed to constitute approval by the Trustees/Directors, subject to
ratification by the Trustees/Directors at a subsequent meeting when the list of
insurers from whom coverage has been obtained is finalized; and further
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%"><B>RESOLVED</B>, that the officers of the Funds, or any of them, are authorized to make
any and all payments and to do any and all other acts in the name of each Fund and
on its behalf, as they, or any of them, may determined to be necessary or desirable
and proper in connection with or in furtherance of the foregoing resolutions; and
further
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%"><B>RESOLVED</B>, that each Fund be and it hereby is authorized to enter into an agreement
with the other parties to the Investment Company Blanket Bond, stating that in the
event recovery is received under the bond as a result of the loss of any Fund and
of one or more of the other named insured parties, each Fund shall receive an
equitable and proportionate share of recovery, such share being at least equal to
the amount it would have received had it provided and maintained a single insured
bond with the minimum coverage required under Rule&nbsp;17g-1 under the Investment
Company Act of 1940, as amended, and the President, the Treasurer and the Secretary
of the Funds be and they hereby are, and each of them acting individually hereby
is, authorized to execute and deliver such agreement, the taking of any or all such
actions to be conclusive evidence of its authorization hereby.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%"><B>RESOLVED</B>, that the form and amount of the Investment Company Blanket Bond, after
consideration of all relevant factors including the Fund&#146;s aggregate assets to
which persons covered by the bond have access, the type and terms of arrangements
made for custody and safekeeping of assets, and the nature of the securities held,
be and they hereby are approved.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->3<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%"><B>RESOLVED</B>, that the Funds&#146;s participation in the Joint Fidelity Bond described above
is in the best interest of the Funds.
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->4<!-- /Folio -->
</DIV>




</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.4
<SEQUENCE>5
<FILENAME>y00356bexv99w4.htm
<DESCRIPTION>EX-99.4: MINIMUM AMOUNT OF BOND WORKSHEET
<TEXT>
<HTML>
<HEAD>
<TITLE>EX-99.4</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV align="right" style="font-size: 10pt">Exhibit 4
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Fidelity Bond Policy</B><BR>
$70.5&nbsp;million policy
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>(allocation based on each fund&#146;s coverage requirements under Rule&nbsp;17g-1)</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="76%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Gross Assets</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Required</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">9/30/2008</TD>
    <TD style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Coverage</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Allianz Funds</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">AGI Multi-Style Fund</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>232,664,076</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">600,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">CCM Capital Appreciation Fund</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,298,925,862</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,250,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">CCM Emerging Companies Fund</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>220,320,512</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">600,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">CCM Focused Growth Fund</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>116,276,510</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">525,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">CCM Mid Cap Fund</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,173,198,800</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,250,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">NACM Global Fund</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>41,888,723</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">400,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">NACM Growth Fund</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>40,360,989</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">400,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">NACM International Fund</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>291,345,285</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">750,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">NACM Mid Cap Growth</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>13,479,798</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">225,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">NACM Pacific Rim Fund</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>303,837,021</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">750,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">NACM Emerging Markets Opportunities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>105,038,931</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">525,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">NACM Income &#038; Growth</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>20,119,156</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">300,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">NFJ Dividend Value Fund</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>7,846,125,426</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,500,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">NFJ International Fund</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,495,225,037</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,500,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">NFJ Large Cap Value Fund</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>991,146,026</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,250,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">NFJ Small Cap Value Fund</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>5,359,595,693</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,500,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">NFJ Mid-Cap Value Fund</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>11,027,394</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">225,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">NFJ All-Cap Value Fund</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>28,829,034</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">350,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">AGI Value Fund</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>639,976,030</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,000,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">OCC Renaissance Fund</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,341,310,990</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,500,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">OCC Equity Premium Strategy Fund</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>40,388,983</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">400,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">OCC Growth Fund</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>506,764,379</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">900,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">OCC Opportunity Fund</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>287,944,380</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">750,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">OCC Target</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>512,426,840</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">900,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">RCM Biotechnology Fund</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>165,430,511</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">600,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">RCM Wellness Fund</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>77,597,474</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">450,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">RCM Global Resources Fund</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>37,946,541</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">400,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">RCM Global Small Cap Fund</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>148,650,255</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">600,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">RCM International Growth Equity Fund</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>64,288,108</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">450,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">RCM Large Cap Fund</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>419,469,759</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">900,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">RCM Mid Cap Fund</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>67,739,137</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">450,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">RCM Small Cap Growth Fund</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>7,613,795</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">200,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">RCM Strategic Growth Fund</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>5,829,640</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">200,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">RCM Technology Fund</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,232,262,376</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,500,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Premier VIT</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">OpCap Equity Portfolio</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>10,433,114</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">200,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">OpCap Managed Portfolio</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>186,135,874</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">600,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">OpCap Small Cap Portfolio</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>98,218,193</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">525,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">OpCap Mid Cap Portfolio</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>73,424,556</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">450,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">OpCap Balanced Portfolio</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>19,387,730</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">250,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">NFJ Dividend Value Portfolio</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>5,809,873</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">175,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Municipal Advantage Fund</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>135,242,431</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">600,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><I>Fixed Income Shares</I>
Series&nbsp;C</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>4,321,456,801</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,500,000</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->1<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="76%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Gross Assets</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Required</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">9/30/2008</TD>
    <TD style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Coverage</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Series&nbsp;H</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>2,592,624</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">125,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Series&nbsp;M</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>19,019,084,367</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,500,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Series&nbsp;R</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>410,541,176</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">750,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">PIMCO Municipal Income Fund</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>494,124,319</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">900,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">PIMCO New York Municipal Income Fund</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>145,899,345</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">600,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">PIMCO Calif Municipal Income Fund</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>365,910,677</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">750,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">PIMCO Corporate Income Fund</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>761,290,873</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,000,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">PIMCO Municipal Income Fund II</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,191,239,709</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,250,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">PIMCO New York Municipal Income Fund II</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>213,953,558</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">750,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">PIMCO Calif Municipal Income Fund II</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>589,192,010</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">900,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">PIMCO Municipal Income Fund III</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>628,829,706</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">900,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">PIMCO New York Municipal Income Fund III</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>110,697,656</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">525,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">PIMCO Calif Municipal Income Fund III</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>427,274,768</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">900,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">PIMCO Corporate Opportunity Fund</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,464,550,036</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,500,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Nicholas-Applegate Conv &#038; Income Fund</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,212,021,976</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,250,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">PIMCO High Income Fund</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>2,494,777,712</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,900,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Nicholas-Applegate Conv &#038; Income Fund II</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,056,024,655</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,250,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">PIMCO Floating Rate Income Fund</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>472,834,979</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">900,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">PIMCO Floating Rate Strategy Fund</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,073,059,247</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,250,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">NFJ Dividend, Interest &#038; Prem Strate</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,889,262,646</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,700,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Nicholas-Applegate Int&#146;l &#038; Prem Stratetgy</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>165,524,207</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">600,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">PIMCO Global StocksPLUS &#038; Income Fund</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>339,010,304</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">750,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Nicholas-Applegate Equity &#038; Income Fund</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>404,852,716</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">900,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Allanz Global Eco Trends Fund</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>135,233,305</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">600,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Allanz RCM Global Water Fund</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>74,421,941</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">450,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Allianz RCM Disciplined Equity Fund</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>3,090,589</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">150,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Allianz RCM All Horizons Fund</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,822,692</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">125,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Allianz RCM Int&#146;l Opportunities Fund</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>3,457,455</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">150,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Allianz NACM 130/30 Fund</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>4,371,457</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">150,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Nicholas-Applegate Global Eq &#038; Prem Stratetgy</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>110,509,034</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">525,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">PIMCO Income Opportunity Fund</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>482,197,806</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">900,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">PCM Inc.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>191,744,822</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">600,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">PIMCO Strategic Government Income</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>918,549,287</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,250,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><I>66,853,099,696</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><I>61,150,000</I></TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
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<P align="center" style="font-size: 10pt"><!-- Folio -->2<!-- /Folio -->
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
