-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 DURpCBwpryQPksUElCuJlGXLtYbKTFwWbO+tyfRKQ3PhVglxlqp0ZO7vPHJ3V6UU
 +pDUE7YFdvOkzZiwzAIjDQ==

<SEC-DOCUMENT>0000950123-10-092237.txt : 20101008
<SEC-HEADER>0000950123-10-092237.hdr.sgml : 20101008
<ACCEPTANCE-DATETIME>20101008123014
ACCESSION NUMBER:		0000950123-10-092237
CONFORMED SUBMISSION TYPE:	40-17G
PUBLIC DOCUMENT COUNT:		8
FILED AS OF DATE:		20101008
DATE AS OF CHANGE:		20101008
EFFECTIVENESS DATE:		20101008

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:		101115568

	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 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:		101115567

	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:		101115566

	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
		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:		101115580

	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:		101115569

	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:		101115583

	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 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:		101115578

	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:		101115577

	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:		101115582

	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:			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:		101115560

	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 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:		101115559

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

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ALLIANZ GLOBAL INVESTORS MANAGED ACCOUNTS TRUST
		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:		101115581

	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:	ALLIANZ GLOBAL INVESTORS
		DATE OF NAME CHANGE:	20090626

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FIXED INCOME SHARES
		DATE OF NAME CHANGE:	20000718

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

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:		101115576

	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 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:		101115575

	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:			AGIC Convertible & Income Fund
		CENTRAL INDEX KEY:			0001214935
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			0228

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-21284
		FILM NUMBER:		101115574

	BUSINESS ADDRESS:	
		STREET 1:		C/O ALLIANZ GLOBAL INVESTORS FUND MGMT
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		212-739-3371

	MAIL ADDRESS:	
		STREET 1:		C/O ALLIANZ GLOBAL INVESTORS FUND MGMT
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

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

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

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:		101115573

	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:			AGIC Convertible & Income Fund II
		CENTRAL INDEX KEY:			0001227857
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			0228

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-21338
		FILM NUMBER:		101115572

	BUSINESS ADDRESS:	
		STREET 1:		C/O ALLIANZ GLOBAL INVESTORS FUND MGMT
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		212 739 3371

	MAIL ADDRESS:	
		STREET 1:		C/O ALLIANZ GLOBAL INVESTORS FUND MGMT
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NICHOLAS APPLEGATE CONVERTIBLE & INCOME FUND II
		DATE OF NAME CHANGE:	20030605

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

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PIMCO INCOME STRATEGY 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:		101115571

	BUSINESS ADDRESS:	
		STREET 1:		1345 AVENUE OF THE AMERICAS 3RD FL
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		212-739-3502

	MAIL ADDRESS:	
		STREET 1:		1345 AVENUE OF THE AMERICAS 3RD FL
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PIMCO FLOATING RATE INCOME FUND
		DATE OF NAME CHANGE:	20030619

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:		101115579

	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 Income Strategy Fund II
		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:		101115570

	BUSINESS ADDRESS:	
		STREET 1:		1345 AVENUE OF THE AMERICAS 3RD FL
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		212 739-3502

	MAIL ADDRESS:	
		STREET 1:		1345 AVENUE OF THE AMERICAS 3RD FL
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PIMCO Floating Rate Strategy Fund
		DATE OF NAME CHANGE:	20040701

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:		101115564

	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:			AGIC International & Premium Strategy Fund
		CENTRAL INDEX KEY:			0001319332
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			0228

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-21724
		FILM NUMBER:		101115565

	BUSINESS ADDRESS:	
		STREET 1:		C/O ALLIANZ GLOBAL INVESTORS FUND MGMT
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		212-739-3371

	MAIL ADDRESS:	
		STREET 1:		C/O ALLIANZ GLOBAL INVESTORS FUND MGMT
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Nicholas-Applegate International & Premium Strategy Fund
		DATE OF NAME CHANGE:	20050325

	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:			AGIC Equity & Convertible Income Fund
		CENTRAL INDEX KEY:			0001383441
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			0131

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-21989
		FILM NUMBER:		101115563

	BUSINESS ADDRESS:	
		STREET 1:		C/O ALLIANZ GLOBAL INVESTORS FUND MGMT
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		212-739-3371

	MAIL ADDRESS:	
		STREET 1:		C/O ALLIANZ GLOBAL INVESTORS FUND MGMT
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Nicholas-Applegate Equity & Convertible Income Fund
		DATE OF NAME CHANGE:	20070118

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

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AGIC Global Equity & Convertible Income Fund
		CENTRAL INDEX KEY:			0001398481
		IRS NUMBER:				000000000
		FISCAL YEAR END:			0831

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-22067
		FILM NUMBER:		101115562

	BUSINESS ADDRESS:	
		STREET 1:		C/O ALLIANZ GLOBAL INVESTORS FUND MGMT
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		212-739-3371

	MAIL ADDRESS:	
		STREET 1:		C/O ALLIANZ GLOBAL INVESTORS FUND MGMT
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Nicholas Applegate Global Equity & Convertible Income Fund
		DATE OF NAME CHANGE:	20070503

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:		101115561

	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:		101115558

	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>y86980ae40v17g.htm
<DESCRIPTION>40-17G
<TEXT>
<HTML>
<HEAD>
<TITLE>e40v17g</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"><IMG src="y86980ay8698000.gif" alt="(ALLIANZ LOGO)">
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">October&nbsp;8, 2010
</DIV>


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

</DIV>

<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">Re:</TD>
    <TD>&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>
Allianz Global Investors Managed Accounts Trust (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>
AGIC Convertible &#038; Income Fund (File No.&nbsp;811-21284)<BR>
PIMCO High Income Fund (File No.&nbsp;811-21311)<BR>
AGIC Convertible &#038; Income Fund II (File No.&nbsp;811-21338)<BR>
PIMCO Income Strategy Fund (File No.&nbsp;811-21374)<BR>
PIMCO Income Strategy Fund II (File No.&nbsp;811-21601)<BR>
NFJ Dividend, Interest &#038; Premium Strategy Fund (File No.&nbsp;811-21417)<BR>
AGIC International &#038; Premium Strategy Fund (File No.&nbsp;811-21724)<BR>
PIMCO Global StocksPLUS &#038; Income Fund (File No.&nbsp;811-21734)<BR>
AGIC Equity &#038; Convertible Income Fund (File No.&nbsp;811-21989)<BR>
AGIC 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)<BR></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">Enclosed for filing on behalf of the above-referenced registered management investment
companies (the &#147;Funds&#148;) pursuant to Rule&nbsp;17g-1 of the Investment Company Act of 1940, as amended,
is the following documentation:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 100pt"><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 -->&nbsp;<!-- /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="right" style="font-size: 10pt; margin-top: 12pt"><IMG src="y86980ay8698000.gif" alt="(ALLIANZ LOGO)">
</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, 2010, issued by
National Union Fire Insurance Company, the primary policy for $25&nbsp;million; First Excess
Layer issued by Great American Insurance Group for $25&nbsp;million; and Second Excess Layer
issued by Berkley Regional Insurance Company for $12.5&nbsp;million, 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 among 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&nbsp;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 paid from July&nbsp;1, 2010 through the period ending July&nbsp;1, 2011.
</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)&nbsp;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; border-bottom: 1px solid #000000; margin-right: 65%">/s/
Thomas J. Fuccillo
</div>
<DIV align="left" style="font-size: 10pt; margin-top: 0pt">Thomas J. Fuccillo<BR>
Secretary and Chief Legal Officer

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 100pt"><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 -->&nbsp;<!-- /Folio -->
</DIV>



</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>y86980aexv99w1.htm
<DESCRIPTION>EX-99.1
<TEXT>
<HTML>
<HEAD>
<TITLE>exv99w1</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"><B>Exhibit&nbsp;1</B>
</DIV>


<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;&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;&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;&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;&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 -->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 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;&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;&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;&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;&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;&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>

<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: 'Times New Roman',Times,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="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;&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;&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: 4%">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: 4%">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;&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;&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 -->3<!-- /Folio -->
</DIV>

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

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;&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 . &nbsp;&nbsp;&nbsp;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;&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">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(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;&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;&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;&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 -->4<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,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;&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
Sub-section (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 -->5<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,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="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 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">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>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.</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">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>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.</TD>
</TR>

</TABLE>
</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 -->6<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,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)
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 -->7<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,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="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 <I>six </I>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 align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;becomes aware of facts, or
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;receives written notice of an actual or potential claim by a third party which
alleges that the Insured is liable under circumstance</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>

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

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

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

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

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







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

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

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

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<DIV style="font-family: 'Times New Roman',Times,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 -->12<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,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 -->13<!-- /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">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 -->14<!-- /Folio -->
</DIV>



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

<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<BR>
(A stock Insurance Company, herein Called the Underwriter)</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="10%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="60%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left"><B>DECLARATIONS</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</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 style="font-size: 12pt">
<TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top" colspan="3"><DIV style="margin-left:0px; text-indent:-0px"><B>Item 1.</B>&nbsp;&nbsp;&nbsp;&nbsp;<FONT style="white-space: nowrap">Name of Insured</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Allianz Funds</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">6214333</TD>
    <TD nowrap valign="top">&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="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top" colspan="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT style="white-space: nowrap">Principal Address:</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Suite&nbsp;250</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&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">680 Newport Center Drive</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&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">Newport Beach CA 92660</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&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="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&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" nowrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Herein called the Insured)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><B>Item&nbsp;2.</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap>&nbsp;Bond Period from 12:01&nbsp;a.m. on 07/01/2010 to 12:01&nbsp;a.m. on 07/01/2011.</TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="6%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"></TD>
    <TD>&nbsp;</TD>
    <TD>The effective date of the termination or cancellation of this bond, standard
time at the Principal Address as to each of the said dates.</TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><B>Item&nbsp;3.</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap>&nbsp;&nbsp;Limit of Liability<BR>
&nbsp;&nbsp;Subject to Section&nbsp;9, 10, and 12 hereof:</TD>
</TR>
</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="74%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="7%">&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="right" colspan="2">Limit of Liability</TD>
    <TD>&nbsp;</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:30px; text-indent:-15px">Insuring Agreement A - FIDELITY</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">25,000,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">250,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Insuring Agreement B - AUDIT EXPENSE</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">50,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">5,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Insuring Agreement C - ON PREMISES</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">25,000,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">250,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Insuring Agreement D - IN TRANSIT</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">25,000,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">250,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Insuring Agreement E - FORGERY OR ALTERATION</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">25,000,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">250,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Insuring Agreement F - SECURITIES</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">25,000,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">250,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Insuring Agreement G - COUNTERFEIT CURRENCY</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">25,000,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">250,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Insuring Agreement H - STOP PAYMENT</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">50,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">5,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Insuring Agreement I - UNCOLLECTIBLE ITEMS OF DEPOSIT</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">50,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">5,000</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">OPTIONAL COVERAGES ADDED BY RIDER:</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:30px; text-indent:-15px">Insuring Agreement J - COMPUTER SYSTEMS</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">25,000,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">250,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Insuring Agreement K - UNAUTHORIZED SIGNATURES</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">50,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">5,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Insuring Agreement L - AUTOMATED PHONE SYSTEMS</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">25,000,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">250,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Insuring Agreement M - TELEFACSIMILE</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">25,000,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">250,000</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</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%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>If Not Covered 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>
</TABLE>
</DIV>

<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="3%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><B>Item&nbsp;4.</B></TD>
    <TD>&nbsp;</TD>
    <TD>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: <BR>
<B>No Exceptions</B></TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="3%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><B>Item&nbsp;5.</B></TD>
    <TD>&nbsp;</TD>
    <TD>The Liability of the Underwriter is subject to the terms of the following riders
attached hereto:
<DIV align="left" style="font-size: 6pt">&nbsp;</DIV>
103012 (10/09), 103003 (10/09), 89644 (7/05),103004 (10/09), 103014 (10/09), 103005 (10/09),
<DIV align="left" style="font-size: 6pt">&nbsp;</DIV>
91222 (12/09), SR5538,41206 (9/84) rider # 2-7</TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="3%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><B>Item&nbsp;6.</B></TD>
    <TD>&nbsp;</TD>
    <TD>The Insured by the acceptance of this bond gives notice to the
Underwriter terminating or cancelling prior bond(s) or policy(ies) No.(s) N/A
such termination or cancellation to be effective as of the time this bond
becomes effective.</TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="3%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><B>Item 7.</B></TD>
    <TD>&nbsp;</TD>
    <TD><B>Premium Amount:</B>
<DIV align="left" style="font-size: 0pt">&nbsp;</DIV>
&nbsp;&nbsp;&nbsp;$41,091
<DIV align="left" style="font-size: 6pt">&nbsp;</DIV>
FHFC - Florida Hurricane Fund:
<DIV align="left" style="font-size: 6pt">&nbsp;</DIV>
Total Premium: $41,091</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">Issuer Date: 08/10/2010&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ Karolyn Jacobson
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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 -->&nbsp;<!-- /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">


<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<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 07/01/10<B>.</B>
</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 align="left" style="font-size: 10pt; margin-top: 6pt; margin-left:6%">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; From and after the time this rider becomes effective the
Insured under the attached bond are:
</DIV>

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




<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Allianz Funds</B><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>
NFJ Renaissance Fund<BR>
OCC Growth Fund<BR>
OCC Opportunity Fund<BR>
OCC Target Fund<BR>
RCM Disciplined International Equity Fund<BR>
RCM Global Resources Fund<BR>
RCM Global Small-Cap Fund<BR>
RCM Large-Cap Growth Fund<BR>
RCM Mid-Cap Fund<BR>
RCM Strategic Growth Fund<BR>
RCM Technology Fund<BR>
RCM Wellness Fund

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Allianz Funds Multi-Strategy Trust</B><BR>
RCM China Equity Fund (Effective June&nbsp;7, 2010)<BR>
RCM Global Water Fund<BR>
RCM Global EcoTrends Fund<BR>
RCM All Horizons Fund<BR>
RCM International Opportunities Fund<BR>
RCM Disciplined Equity Fund<BR>
NACM International Growth Fund<BR>
NACM Convertible Fund<BR>
NACM High Yield Bond Fund<BR>
NACM International Growth Opportunities Fund<BR>
NACM Emerging Growth Fund<BR>
NACM Small To Mid Cap Growth Fund<BR>
NACM Micro Cap Fund<BR>
NACM Ultra Micro Cap Fund<BR>
NFJ Global Dividend Value Fund<BR>
Allianz Global Investors Solutions 2015 Fund<BR>
Allianz Global Investors Solutions 2020 Fund<BR>
Allianz Global Investors Solutions 2030 Fund

</DIV>
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /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">
<P>
<DIV style="width: 100%; border: 1px solid black; padding: 11px">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Allianz Global Investors Solutions 2040 Fund<BR>
Allianz Global Investors Solutions 2050 Fund<BR>
Allianz Global Investors Solutions Retirement Income Fund<BR>
Allianz Global Investors Solutions Core Allocation Fund<BR>
Allianz Global Investors Solutions Growth Allocation Fund

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Allianz Global Investors Managed Accounts Trust</B><BR>
Fixed Income SHares: Series&nbsp;C<BR>
Fixed Income SHares: Series&nbsp;M<BR>
Fixed Income SHares: Series&nbsp;R<BR>
Fixed Income SHares: Series&nbsp;H<BR>
Equity Shares: Series&nbsp;I

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Allianz Global Investors sponsored Closed-End Funds</B><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 Income Strategy Fund<BR>
PIMCO Income Strategy Fund II<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.</DIV>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;The first named Insured shall act for itself and for each and all of the
Insured for all the purposes of the attached bond.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.&nbsp;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.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.&nbsp;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
loss sustained by such Insured unless discovered before the time such termination as
to such Insured becomes effective.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.&nbsp;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.
</DIV>

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

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /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">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.&nbsp;The attached bond shall be subject to all its agreements, limitations and
conditions except as herein expressly modified.</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.&nbsp;This rider shall become effective as 12:01&nbsp;a.m. on 07/01/10.
<DIV align="left" style="font-size: 6pt">&nbsp;</DIV>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Signed, Sealed and dated</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 align="left">&nbsp;</TD>
    <TD align="left" nowrap>By:&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ Karolyn Jacobson&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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 -->&nbsp;<!-- /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">

<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="left" style="font-size: 10pt; margin-top: 6pt">This
endorsement, effective at 12:01 AM <B>07/01/2010 </B>forms a part of</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Policy number <B>6214333</B></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Issued to: Allianz Funds</B></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">By: <B>National Union Fire Ins of Pittsburgh</B></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.</B></DIV>

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

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Payment of loss under this policy shall only be made in full compliance with all United
States of America economic or trade sanction laws or regulations, including, but not limited to,
sanctions, laws and regulations administered and enforced by the U.S. Treasury Department&#146;s Office
of Foreign Assets Control (&#147;OFAC&#148;).</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">ALL OTHER TERMS, CONDITIONS AND EXCLUSIONS REMAIN UNCHANGED.</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">&#169; American International Group, Inc. All rights reserved</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: 1px solid #000000" align="left">/s/ Karolyn Jacobson&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 -->&nbsp;<!-- /Folio -->
</DIV>
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<DIV style="font-family: 'Times New Roman',Times,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>INSURING AGREEMENT J Computer Systems</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></DIV>

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

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

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

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">(1)&nbsp;Entry of data into, or</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">(2)&nbsp;Change of data or programs within</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">a Computer System; provided the fraudulent entry or change causes</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">(a)&nbsp;Property to be transferred paid or delivered,</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">(b)&nbsp;an account of the Insured, or of its customer, to be added,
deleted, debited or credited:</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">(c)&nbsp;an unauthorized account of a fictitious account to be debited or
credited;</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">(3)&nbsp;Voice instructions or advices having been transmitted to the
Insured or its agent(s) by telephone;</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">and provided further, the fraudulent entry or change is made or caused by an individual
acting with the intent to:</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">(i)&nbsp;cause the Insured or its agent(s) to sustain a loss, and</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">(ii)&nbsp;obtain financial benefit for that individual or for other persons
intended by that individual to receive financial benefit,</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">(iii)&nbsp;and further provided such voice instruction or advices:</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">(a)&nbsp;were made by a person who purported to represent an individual
authorized to make such voice instruction or advices; and</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">(b)&nbsp;were electronically recorded by the Insured or its agent(s).</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">(4)&nbsp;It shall be a condition to recovery under the Computer Systems Rider
that the Insured or its agent (s)&nbsp;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.</DIV>

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






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

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




<DIV align="center" style="font-size: 10pt; margin-top: 18pt">All computer systems utilized by the Insured.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">2. As used in this Rider, Computer System means:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">(a)&nbsp;computers with related peripheral components, including storage
components, wherever located,
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">(b)&nbsp;systems and application software,
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">(c)&nbsp;terminal devices,
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">(d)&nbsp;related communication networks or customer communication systems,
and
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">(e)&nbsp;related Electronic Funds Transfer Systems,
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">by which data are electronically collected, transmitted, processed, stored, and retrieved.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">3. In addition to the exclusions in the attached bond, the following
exclusions are applicable to this Insuring Agreement:
</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>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>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">4. The following portions of the attached bond are not applicable to this
Rider:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">(a)&nbsp;the initial paragraph of the bond preceding the Insuring
Agreements which reads &#147;...at any time but discovered during the
Bond Period.&#148;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">(b)&nbsp;Section&nbsp;9-NON-REDUCTION AND NON-ACCUMULATION OF LIABILITY AND
TOTAL LIABILITY
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">(c)&nbsp;Section&nbsp;10-LIMIT OF LIABILITY
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">5. The Coverage afforded by this rider applies only to loss discovered by
the Insured during the period this Rider is in force.
</DIV>

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

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">7. The Limit of Liability for the coverage provided by this Rider shall be
<B>($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.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">8. The Underwriter shall be liable hereunder for the amount by which one
loss shall be in excess of <B>$250,000 </B>(herein called the Deductible amount)
but not in excess of the Limit of Liability stated above.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">9. If any loss is covered under this Insuring Agreement and any other
Insuring Agreement or Coverage, the maximum amount payable for such loss
</DIV>





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

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



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">shall not exceed the largest amount available under any one Insuring Agreement or Coverage.</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">10. 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 cancelling
the bond as an entirety:</DIV>

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

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">(b)&nbsp;Immediately upon receipt by the Underwriter of a written request
from the Insured to terminate or cancel coverage under this Rider.</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 align="left" style="font-size: 10pt; margin-top: 6pt">11. Section&nbsp;4-LOSS-NOTICE-PROOF-LEGAL PROCEEDING of the Conditions and
Limitations of this bond is amended by adding the following sentence:</DIV>

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

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">12. 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. 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.</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">13. Nothing herein contained shall be held to vary, alter, waiver or extend
any of the terms, limitations, conditions or agreements of the attached bond other than as above stated.</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">14. This rider shall become effective at 12:01&nbsp;a.m. Standard time on <B>07/01/2010.</B></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">/s/ Karolyn Jacobson
&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 -->&nbsp;<!-- /Folio --></DIV>
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<DIV style="font-family: 'Times New Roman',Times,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>INSURING AGREEMENT K</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>To be attached to and form a part of Investment Company Blanket Bond No.
<B>6214333 </B>in favor of <B>Allianz Funds.</B></TD>
</TR>
</TABLE>
</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">&nbsp;</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">(2)</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">(3)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Single Loss Limit of Liability for the coverage provided by this
rider shall be <B>$50,000, </B>it being understood, however, that such
liability shall be part of, and not in addition to, the Aggregate 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">(4)</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>$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">(5)</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">(6)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The rider is effective as of 12:01&nbsp;a.m. standard time on <B>07/01/2010</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="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">                           /s/ Karolyn Jacobson
&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 -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,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>INSURING AGREEMENT L</B></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">To be attached to and form part of Bond No.<B>&nbsp;6214333.</B>
<DIV align="left" style="font-size: 6pt">&nbsp;</DIV>
Issued to <B>Allianz Funds.</B></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">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>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>

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

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


<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="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 12%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<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>


<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)&nbsp;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; margin-left: 8%">2. <U>Exclusions.</U> It is further understood and agreed that this extension shall not cover:
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /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; margin-left: 8%">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; margin-left: 8%">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>07/01/2010,</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="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">                        /s/ Karolyn Jacobson
&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 -->&nbsp;<!-- /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">


<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>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: 12pt">To be attached to and form part of Investment Company Blanket Bond No.&nbsp;<B>6214333</B> 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="3%" 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>TELEFACSIMILE TRANSMISSIONS</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="3%" 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>

</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">i) 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</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">ii) 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.</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">As used in this Insuring Agreement, &#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.</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>The Single Loss Limit of Liability for the coverage provided under the
TELEFACSIMILE TRANSMISSIONS Insuring Agreement shall be <B>$25,000,000,</B> it
being understood, however, that such liability shall be part of, and not
in addition to, the aggregate 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="3%" 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>$250,000, </B>but not in excess
of the Single Limit of Liability stated above.</TD>
</TR>
</TABLE>
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /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 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="3%" 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="3%" nowrap align="left">5.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>This rider is effective as of 12:01&nbsp;a.m. on <B>07/01/2010, </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 align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">                        /s/ Karolyn Jacobson
&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 -->&nbsp;<!-- /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">


<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>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.&nbsp;<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="3%" 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 replacing it with 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="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>SECTION 13. TERMINATION</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" 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="3%" 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="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>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.</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="3%" 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="3%" 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="6%" 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 and upon the expiration of
ninety (90)&nbsp;days after written notice has been given to the
Securities and Exchange Commission, Washington, D.C. (See Section
16(d)) and to the Insured Investment Company, or</TD>
</TR>





</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /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 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">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="6%" 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>

</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 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="3%" nowrap align="left">3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>This rider is effective as of 12:01&nbsp;a.m. on <B>07/01/2010.</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 align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">                       /s/ Karolyn Jacobson
&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 -->&nbsp;<!-- /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">


<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;2</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.&nbsp;<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>

<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 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="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>07/01/10</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">                        /s/ Karolyn Jacobson
&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 -->&nbsp;<!-- /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">


<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;3</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="3%" nowrap align="left">1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>It is agreed that Insuring Agreement (A)&nbsp;FIDELITY is deleted and replaced by the
following:</TD>
</TR>

</TABLE>
</DIV>


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


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">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: 6%">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="10%" 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="10%" 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: 6%">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: 6%">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="8%" 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 -->&nbsp;<!-- /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 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="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Salaries, commissions, fees, bonuses, promotions, awards, profit sharing, pensions or other
Employee benefits shall not constitute an improper 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="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>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.</TD>
</TR>

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

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><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 style="font-size: 6pt">
    <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 align="left">&nbsp;</TD>
    <TD colspan="3" style="border-bottom: 1px solid #000000" align="left">/s/ Karolyn Jacobson&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 -->&nbsp;<!-- /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">


<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;4</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">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 therefore:</TD>
</TR>

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

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><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 style="font-size: 6pt">
    <TD width="62%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" style="border-bottom: 1px solid #000000" align="left">/s/ Karolyn Jacobson&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>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>

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


<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" align="left">&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">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&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. 5</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="3%" nowrap align="left">1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>SECTION 1., DEFINITIONS, (a) &#147;Employee,&#148; is hereby amended to include the
following:</TD>
</TR>

</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">(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>
<DIV align="right">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="94%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="35%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="65%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Karolyn Jacobson
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
AUTHORIZED REPRESENTATIVE
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /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="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="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 style="font-size: 18pt">
    <TD width="33%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="26%">&nbsp;</TD>
    <TD width="32%">&nbsp;</TD>
</TR>
<TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" style="border-bottom: 1px solid #000000" align="left">/s/ Karolyn Jacobson&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left" nowrap>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 -->&nbsp;<!-- /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">


<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;7</B>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">This rider, effective 07/01/10 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%" nowrap align="left">&nbsp;&nbsp;&nbsp;1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Section&nbsp;4, Loss &#151; Notice &#151; Proof- Legal Proceedings, is amended by deleting
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="2%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#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;</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%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The following section is also deleted</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%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;Discovery occurs when 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="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 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">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>and replacing the above with 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="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;Discovery occurs when the Insured&#146;s Risk Manager&#146;s or General Counsel&#146;s office</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>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 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">&nbsp;&nbsp;&nbsp;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="32%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="26%">&nbsp;</TD>
    <TD width="32%">&nbsp;</TD>
</TR>
<TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" style="border-bottom: 1px solid #000000" align="left">/s/ Karolyn Jacobson&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left" nowrap>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>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /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="center" style="font-size: 10pt; margin-top: 18pt"><IMG src="y86980ay8698003.gif" alt="(COMPANY LOGO)"></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">FIDELITY/CRIME DIVISION</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">FINANCIAL INSTITUTION EXCESS FOLLOW FORM CERTIFICATE</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">The Great American Insurance Company, herein called the UNDERWRITER</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Bond Number: &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <B>FS 559-46-74 - 03</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="28%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="70%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Name and Address of Insured:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>Allianz Funds<br>
680 Newport Center Drive, Suite&nbsp;250<br>
Newport Beach, CA 92660</B></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The UNDERWRITER, in consideration of an agreed premium, and in reliance upon the statements and
information furnished to the UNDERWRITER by the Insured, and subject to the terms and conditions of
the underlying coverage scheduled in ITEM 3 below, as excess and not contributing insurance, agrees
to pay the Insured for loss which:</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>Would have been paid under the Underlying but for the fact that such loss exceeds
the limit of liability of the Underlying <font style="white-space: nowrap">Carrier (s)</FONT> listed in Item&nbsp;3, 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>for which the Underlying Carrier (s)&nbsp;has (have)&nbsp;made payment, and the Insured has
collected the full amount of the expressed limit of the Underlying Carrier&#146;s (s)&nbsp;liability.</TD>
</TR>
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">ITEM 1. BOND PERIOD:  from 12:01&nbsp;a.m. on <B>07/01/2010 </B>to 12:01&nbsp;a.m. on <B>07/01/2011</B></DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom" style="font-size: 1px">
    <TD width="34%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
    <TD width="58%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">(inception)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;&nbsp;(expiration)</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="40%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="56%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><FONT style="white-space: nowrap">ITEM 2. LIMIT OF LIABILITY AT INCEPTION:</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>$25,000,000 and $25,000,000 in the Aggregate (National Union Fire Insurance Company of Pittsburgh, PA (AIG)&nbsp;Investment Company Blanket Bond
Insuring Agreements A, C, D, E, F, G, J, L, M.)</B></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">ITEM 3. UNDERLYING COVERAGE:</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="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="20%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="70%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<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">A)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">CARRIER:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>National Union Fire Insurance Company of Pittsburgh, PA</B></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">LIMIT:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>$25,000,000 and $25,000,000 in the Aggregate subject to a $250,000 deductible.</B></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">BOND NUMBER:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>6214333</B></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">BOND PERIOD:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>07/01/2010 &#150; 07/01/2011</B></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">ITEM 4. Coverage provided by this Bond is subject to the following attached Rider(s): <B>No.&nbsp;1 and 2</B></DIV>


<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">ITEM 5.</TD>
    <TD>&nbsp;</TD>
    <TD>By acceptance of this Bond, you give us notice canceling prior Bond No. <B>FS 559-46-74 - 02</B>, the cancellation to be effective at the same time this Bond becomes effective.</TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In witness whereof, the UNDERWRITER has caused this certificate to be signed by an
Attorney-in-Fact of the UNDERWRITER this 16<SUP style="font-size: 85%; vertical-align: text-top">th</SUP> day of August, 2010.</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="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="45%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">GREAT AMERICAN INSURANCE COMPANY</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>
</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">By:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/s/ </TD>
</TR>
<TR style="font-size: 1px">
    <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"><div style="border-top: 1px solid #000000; margin-right: 120px">&nbsp;</DIV></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"><DIV style="margin-left:85px; text-indent:-15px">(Attorney-in-Fact)</DIV></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Excess
Follow Form Certificate <BR>
10/2007 ed.</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 6pt">One Waterside Crossing, Windsor, CT 06095<BR>
Member of American Financial Group</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /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="center" style="font-size: 10pt; margin-top: 18pt"><IMG src="y86980ay8698003.gif" alt="(COMPANY LOGO)"></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">FIDELITY/CRIME DIVISION
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 18pt"><B>RIDER NO. 1</B>
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>DROP DOWN RIDER</B>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">To be
attached to and form part of Excess Follow Form&nbsp;Bond No.&nbsp;FS 559-46-74 - 03
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In favor of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Allianz Funds

</DIV>

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

</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The attached bond is amended by adding an additional Condition as follows:
</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%" nowrap align="left">1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>All Underlying Coverage detailed in ITEM 3 of the Declarations shall be maintained in full
force and effect during the period of this Bond, except for any reduction in the aggregate limits contained
therein solely by payment of claims, including court costs and attorneys fees.</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%" nowrap align="left">2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>If by reason of the payment of any claim or claims by the Underwriter during the period of
this coverage, which reduces the aggregate limits of the underlying coverage, this Bond shall respond
excess over the Single Loss Limits of Liability of the Underlying Carrier(s) named in Item&nbsp;3 of the Declarations until the reduced Annual Aggregate Limits are exhausted; and in such event, this
Bond shall continue in force as Primary Bond, and the Deductible set forth on the Declarations Page of
the Primary Bond shall apply to 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%" nowrap align="left">3.</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="2%" nowrap align="left">4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>This rider shall become effective as of 12:01&nbsp;a.m. on 07/01/2010 standard time as specified
in the Bond.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">One Waterside Crossing, Windsor, CT 06095<BR>
Member of American Financial Group
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /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="center" style="font-size: 10pt; margin-top: 18pt"><IMG src="y86980ay8698003.gif" alt="(COMPANY LOGO)"></DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">FIDELITY/CRIME DIVISION</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 18pt"><B>RIDER NO. 2
<DIV align="left" style="font-size: 6pt">&nbsp;</DIV>
CALIFORNIA PREMIUM RIDER</B></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">To be attached to and form part of Bond No.&nbsp;FS 559-46-74 - 03</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">in favor of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 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%" nowrap align="left">1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In compliance with the ruling of the Commissioner of Insurance of the State of
California and the Opinion of the Attorney-General of that State requiring that the
premium for all bonds or policies be endorsed thereon, the basic premium charged for
the attached bond for the period</TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">From: &nbsp;&nbsp;07/01/2010</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">To: &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;07/01/2011</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Is: &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Thirty Seven Thousand Three Hundred Six and 00/100 Dollars ($37,306.)</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%" nowrap align="left">2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>This rider shall become effective as of 12:01&nbsp;a.m. on 07/01/2010 standard time.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">One Waterside Crossing, Windsor, CT 06095<BR>
Member of American Financial Group</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /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="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="20%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="45%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top" align="center"><DIV style="margin-left:0px; text-indent:-0px"><IMG src="y86980ay8698004.gif" alt="(GRAPHIC)"></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>BERKLEY REGIONAL INSURANCE COMPANY</B><BR>
A Berkley Company <BR>
475 Steamboat Road <BR>
Greenwich, 06830
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>PRODUCER:</B> <BR>
Integro Insurance Brokers<BR>
1 State Street Plaza &#150; 9th floor<BR>
New York, NY 10004</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>FINANCIAL INSTITUTION EXCESS FOLLOW FORM CERTIFICATE</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="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="65%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>BOND NUMBER:</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">BFI-71000379-10&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>PRIOR BOND NUMBER: </B>N/A</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>NAMED INSURED:</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Allianz Funds</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">(Also list any Employee Benefit Plan(s) included as Insureds)</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>MAILING ADDRESS:</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">680 Newport Center Drive, Suite&nbsp;250</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">Newport Beach, CA 92660</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>BOND PERIOD:</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">7/1/2010 to 7/1/2011</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">(12:01&nbsp;A.M. at your Mailing Address shown above)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

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

<DIV align="left" style="font-size: 10pt; margin-top: -1pt"><B>TERMS AND CONDITIONS:</B></DIV>

<DIV align="left" style="font-size: 1px; margin-top: 0pt">
<DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 0pt">In consideration of the premium charged and in reliance upon the statements
and information furnished to the COMPANY by the Insured and subject to the
terms and conditions of the UNDERLYING COVERAGE scheduled below, the COMPANY
agrees to pay the Insured, as excess and not contributing insurance, for loss
which:</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>would have been paid under the underlying Carrier(s) in the
UNDERLYING COVERAGE schedule below but for the fact that such loss
exceeds the Single Loss Limit of Liability of the underlying Carrier(s),
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>for which the underlying Carrier(s) has made payment and the Insured
has collected the full amount of the underlying Carrier&#146;s expressed
Single Loss Limit of Liability.</TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">This bond does not provide coverage in excess of any sub-limited coverage in
the underlying policy which is below the underlying Carrier&#146;s expressed Single
Loss Limit of Liability in the UNDERLYING COVERAGE schedule below.</DIV>
</DIV>

<DIV align="left" style="font-size: 6pt">&nbsp;</DIV>

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

<DIV align="center" style="margin-top: -3pt">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<TR style="font-size: 1px">
    <TD width="25%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="70%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>UNDERLYING COVERAGE:</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="3" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Carrier:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;National Union Fire Insurance Company of Pittsburgh, PA</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Single Loss Limit of Liability:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;$25,000,000</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Single Loss Deductible:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;$250,000</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Aggregate Limit:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;$25,000,000</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Bond Number:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;6214333</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Bond or Form&nbsp;Name:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;Investment Company Blanket Bond</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Bond Period:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;7/1/2010 to 7/1/2011</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="3" valign="top" align="left" style="border-top: 1px solid #000000">&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>
</TR>
<TR style="font-size: 1px">
    <TD colspan="3" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Carrier:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;Great American Insurance Company</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Single Loss Limit of Liability:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;$25,000,000 excess of $25,000,000 plus deductible</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Aggregate Limit:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;$25,000,000</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Bond Number:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;FS 559-46-74 &#150; 03</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Bond Period:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;7/1/2010 to 7/1/2011</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

</DIV>

<DIV align="left" style="font-size: 6pt">&nbsp;</DIV>

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

<DIV align="center" style="margin-top: -3pt">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR style="font-size: 1px">
    <TD width="25%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="70%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>Lead Carrier for Layer:</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;Berkley Regional Insurance Company</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>Single Loss Limit of Liability:</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;$12,500,000 excess of $50,000,000 plus deductible</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>Aggregate Limit:</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;$12,500,000</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

</DIV>

<DIV align="left" style="font-size: 6pt">&nbsp;</DIV>

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

<DIV align="center" style="margin-top: -3pt">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR style="font-size: 1px">
    <TD width="25%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="70%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>ANNUAL PREMIUM:</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;$16,787</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

</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="1%">&nbsp;</TD>
    <TD width="24%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD><!-- VRule -->
    <TD width="1%">&nbsp;</TD>
    <TD width="70%">&nbsp;</TD>

    <TD width="1%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD width="1%" style="border-left: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
              <TD colspan="5" valign="top" align="left" style="border-top: 1px solid #000000; border-right: 1px solid #000000">Forms and Riders Forming Part of this Bond When Issued:</TD>
</TR>
<TR valign="bottom">
    <TD width="1%" style="border-left: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">Form&nbsp;Number<BR>and Edition Date</DIV></TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD align="left" valign="bottom" style="border-top: 1px solid #000000">Description of Form or Rider:</TD>
    <TD width="1%" style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD width="1%" style="border-left: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;BAP 39 01 01 09</DIV></TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">Financial Institution Excess Follow Form&nbsp;Certificate</TD>
    <TD width="1%" style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD width="1%" style="border-left: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">SR 5862</DIV></TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">California Premium Rider</TD>
    <TD width="1%" style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD width="1%" style="border-left: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;BAP 31 06 08 09</DIV></TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">Exhaustion of Underlying Limits Rider</TD>
    <TD width="1%" style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 1px" valign="bottom">
    <TD nowrap align="left" colspan="6" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 18pt">BAP 39 01 01 09</DIV>

<P align="right" style="font-size: 10pt; margin-top: -12pt"><!-- Folio -->Page 1 of 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"><U>Cancellation of Prior Insurance Issued by Us:</U><BR>
By acceptance of this Bond you give us notice canceling prior policy Numbers: N/A<BR>
the cancellation to be effective at the time this Bond becomes effective.</DIV>

<DIV align="left" style="font-size: 6pt">&nbsp;</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<TR style="font-size: 10pt">
    <TD width="20%" valign="top" nowrap>/s/
<DIV align="left" style="border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV>
Secretary</TD>
    <TD width="40%">&nbsp;</TD>
    <TD width="20%" valign="top" nowrap>/s/
<DIV align="left" style="border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV>
President</TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 18pt">BAP 39 01 01 09</DIV>

<P align="right" style="font-size: 10pt; margin-top: -12pt"><!-- Folio -->Page 2 of 2<!-- /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="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%"></TD>
    <TD width="5%"></TD>
    <TD width="47%"></TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top">Policy Number: BFI-71000379-10
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top"></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


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


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To be attached to and form part of Bond No.
BFI-71000379-10<BR> <Br style="font-size: 6pt">in favor of Allianz Funds
</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">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;&nbsp;&nbsp;In compliance with the ruling of the Commissioner of Insurance of the State of California
and the Opinion of the Attorney-General of that State requiring that the premium for all bonds or
policies be endorsed thereon, the basic premium charged for the attached bond for the period
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">from <U><B>7/1/2010 </B></U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">to <U><B>7/1/2011 </B></U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">is <U><B>Sixteen Thousand Seven Hundred Eighty Seven</B></U> Dollars ($ <U><B>16,787</B>).</U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;&nbsp;&nbsp;This rider is effective as of noon on 7/1/2010
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>CALIFORNIA PREMIUM RIDER</B><BR>
FOR USE WITH ALL FORMS OF STANDARD BONDS, TO COMPLY WITH<BR>
RULINGS OF THE INSURANCE COMMISSIONER AND THE ATTORNEY-GENERAL.<BR>
REVISED TO AUGUST, 168</DIV>



<P align="right" style="font-size: 10pt; margin-top: -12pt"><!-- Folio --><b>Page
1 of 1</b><!-- /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="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%"></TD>
    <TD width="5%"></TD>
    <TD width="47%"></TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top">BOND NUMBER: BFI-71000379-10
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top"><B>BAP 31 06 08 09</B></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>THIS RIDER CHANGES THE BOND. PLEASE READ IT CAREFULLY.</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><U><B>EXHAUSTION OF UNDERLYING LIMITS RIDER</B></U>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">TERMS AND CONDITIONS, Item (b)&nbsp;of the FINANCIAL INSTITUTION EXCESS FOLLOW FORM CERTIFICATE is
deleted and replaced with the following:
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">(b)&nbsp;for which the Underlying Carrier(s) has made payment, and the Insured has collected, the
full amount of the expressed limit of the Underlying Carrier&#146;s expressed Single Loss Limit of
Liability, except when the Underlying Carrier is unable to pay due to the Underlying
Carrier&#146;s own insolvency or where the Underlying Carrier in good faith, settles a claim made
by the Insured as a result of a covered loss for less than the expressed single loss limit of
liability of the Underlying Carrier that is applicable to the covered loss.</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">In either the case of insolvency or for which a good faith settlement is made by the
Underlying Carrier(s) as respects a covered loss sustained by the Insured, the Insured&#146;s loss
that is in excess of what should be paid by the Underlying Carrier in insolvency or that
which is in excess of a good faith settlement that is made by the Underlying Carrier(s),
shall be treated as self-insured and the Insured may make claim for the excess amount as per
the Single Loss Limit of Liability described on the attached FINANCIAL INSTITUTION EXCESS
FOLLOW FORM CERTIFICATE.</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">All other terms, conditions, limitations and exclusions remain unchanged.</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 18pt"><b>BAP 31
06 08 09</b></DIV>

<P align="right" style="font-size: 10pt; margin-top: -12pt"><!-- Folio --><b>Page
1 of 1</b><!-- /Folio -->
</DIV>



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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>y86980aexv99w2.htm
<DESCRIPTION>EX-99.2
<TEXT>
<HTML>
<HEAD>
<TITLE>exv99w2</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Exhibit&nbsp;2</B>
</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, 2010 by and among, Allianz Global Investors Managed Accounts
Trust, NFJ Dividend, Interest &#038; Premium Strategy Fund, AGIC Convertible &#038; Income Fund, AGIC
Convertible &#038; Income Fund II, AGIC Equity &#038; Convertible Income Fund, AGIC Global Equity &#038;
Convertible Income Fund, AGIC International &#038; Premium Strategy Fund, PCM Fund Inc., PIMCO
California Municipal Income Fund, PIMCO California Municipal Income Fund II, PIMCO California
Municipal Income Fund III, PIMCO Corporate Income Fund, PIMCO Corporate Opportunity Fund, PIMCO
Income Strategy Fund, PIMCO Income Strategy Fund II, PIMCO Global StocksPLUS &#038; Income Fund, PIMCO
High Income Fund, PIMCO Income Opportunity Fund, PIMCO Municipal Income Fund, PIMCO Municipal
Income Fund II, PIMCO Municipal Income Fund III, PIMCO New York Municipal Income Fund, PIMCO New
York Municipal Income Fund II, PIMCO New York Municipal Income Fund III, , PIMCO Strategic Global
Government Fund Inc., Allianz Funds 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 Group
and Berkley Regional 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 -->&nbsp;<!-- /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;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;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;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>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 40%"><B>Allianz Global Investors Managed Accounts Trust<BR>
NFJ Dividend, Interest &#038; Premium Strategy Fund<BR>
AGIC Convertible &#038; Income Fund<BR>
AGIC Convertible &#038; Income Fund II<BR>
AGIC Equity &#038; Convertible Income Fund<BR>
AGIC Global Equity &#038; Convertible Income Fund<BR>
AGIC International &#038; Premium Strategy Fund<BR>
PCM Fund, Inc.<BR>
PIMCO California Municipal Income Fund<BR>
PIMCO California Municipal Income Fund II<BR>
PIMCO California Municipal Income Fund III<BR>
PIMCO Corporate Income Fund<BR>
PIMCO Corporate Opportunity Fund<BR>
PIMCO Income Strategy Fund<BR>
PIMCO Income Strategy Fund II<BR>
PIMCO Global StocksPLUS &#038; Income Fund<BR>
PIMCO High Income Fund<BR>
PIMCO Income Opportunity Fund<BR>
PIMCO Municipal Income Fund<BR>
PIMCO Municipal Income Fund II<BR>
PIMCO Municipal Income Fund III<BR>
PIMCO New York Municipal Income Fund<BR>
PIMCO New York Municipal Income Fund II<BR>
PIMCO New York Municipal Income Fund III<BR>
PIMCO Strategic Global Government Fund Inc.</B>

</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">                                    /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</B><br><B>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"><FONT style="white-space: nowrap">Treasurer, Principal Financial and Accounting Officer</FONT>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


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



</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.3
<SEQUENCE>4
<FILENAME>y86980aexv99w3.htm
<DESCRIPTION>EX-99.3
<TEXT>
<HTML>
<HEAD>
<TITLE>exv99w3</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"><B>Exhibit&nbsp;3</B>
</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>ALLIANZ FUNDS MULTI-STRATEGY TRUST </B>(&#147;MST&#148;)<BR>
<B>ALLIANZ GLOBAL INVESTORS MANAGED ACCOUNTS TRUST </B>(&#147;AGIMAT&#148;)<BR>
<B>NFJ DIVIDEND, INTEREST &#038; PREMIUM STRATEGY FUND </B>(&#147;NFJ&#148;)<BR>
<B>AGIC CONVERTIBLE &#038; INCOME FUND </B>(&#147;NCV&#148;)<BR>
<B>AGIC CONVERTIBLE &#038; INCOME FUND II </B>(&#147;NCZ&#148;)<BR>
<B>AGIC EQUITY &#038; CONVERTIBLE INCOME FUND </B>(&#147;NIE&#148;)<BR>
<B>AGIC GLOBAL EQUITY &#038; CONVERTIBLE INCOME FUND </B>(&#147;NGZ&#148;)<BR>
<B>AGIC INTERNATIONAL &#038; PREMIUM STRATEGY FUND </B>(&#147;NAI&#148;)<BR>
<B>PCM FUND, INC. </B>(&#147;PCM&#148;)<BR>
<B>PIMCO CALIFORNIA MUNICIPAL INCOME FUND </B>(&#147;PCQ&#148;)<BR>
<B>PIMCO CALIFORNIA MUNICIPAL INCOME FUND II </B>(&#147;PCK&#148;)<BR>
<B>PIMCO CALIFORNIA MUNICIPAL INCOME FUND III </B>(&#147;PZC&#148;)<BR>
<B>PIMCO CORPORATE INCOME FUND </B>(&#147;PCN&#148;)<BR>
<B>PIMCO CORPORATE OPPORTUNITY FUND </B>(&#147;PTY&#148;)<BR>
<B>PIMCO INCOME STRATEGY FUND </B>(&#147;PFL&#148;)<BR>
<B>PIMCO INCOME STRATEGY FUND II </B>(&#147;PFN&#148;)<BR>
<B>PIMCO GLOBAL STOCKSPLUS &#038; INCOME FUND </B>(&#147;PGP&#148;)<BR>
<B>PIMCO HIGH INCOME FUND </B>(&#147;PHK&#148;)<BR>
<B>PIMCO INCOME OPPORTUNITY FUND </B>(&#147;PKO&#148;)<BR>
<B>PIMCO MUNICIPAL INCOME FUND </B>(&#147;PMF&#148;)<BR>
<B>PIMCO MUNICIPAL INCOME FUND II </B>(&#147;PML&#148;)<BR>
<B>PIMCO MUNICIPAL INCOME FUND III </B>(&#147;PMX&#148;)<BR>
<B>PIMCO NEW YORK MUNICIPAL INCOME FUND </B>(&#147;PNF&#148;)<BR>
<B>PIMCO NEW YORK MUNICIPAL INCOME FUND II </B>(&#147;PNI&#148;)<BR>
<B>PIMCO NEW YORK MUNICIPAL INCOME FUND III </B>(&#147;PYN&#148;)<BR>
<B>PIMCO STRATEGIC GLOBAL GOVERNMENT FUND INC. </B>(&#147;RCS&#148;)<BR>
<B>(collectively, the &#147;Funds&#148;)</B>
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 18pt"><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 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 meetings held on June&nbsp;22-23, 2010
and September&nbsp;21-22, 2010, 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 7<SUP style="FONT-size: 85%; vertical-align: text-top">th</SUP> day of October, 2010.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 50%; border-bottom: 1px solid #000000; margin-right: 15%">/s/
Thomas J. Fuccillo
</div>
<DIV align="left" style="font-size: 10pt; margin-top: 0pt; margin-left: 50%">Thomas J. Fuccillo<BR>
Secretary
</DIV>

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


<DIV align="Center" style="font-size: 10pt; margin-top: 18pt">Minutes of the Joint Meeting of the Boards of Trustees held on June&nbsp;22-23, 2010
</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="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="90%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">VOTED:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">That, after considering all relevant factors, the action of the
Funds in joining Allianz Funds 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 $62.5&nbsp;million, or such amount as is necessary to
cover the addition of the Funds to the Investment Company
Blanket Bond, for an aggregate one-year premium of an amount to
be determined by AGIFM once an aggregate premium figure is
provided by the insurance companies, plus any additional amount
as may be necessary to cover the addition of the 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 and
to be paid from the Administrative Fee paid to Allianz Global
Investors Fund Management LLC.</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /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="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="90%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">VOTED:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">That the officers of the Funds, are each hereby authorized to
approve insurers included in the consortium of insurers
referenced in the foregoing 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.</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">VOTED:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">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.</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">VOTED:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">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 the Funds and on their behalf, as they, or any of
them, may determine to be necessary or desirable and proper in
connection with or in furtherance of the foregoing resolutions;
and further</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">VOTED:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">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, the other Funds 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.</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">VOTED:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">That the form and amount of the Investment Company Blanket Bond,
after consideration of all relevant factors including each
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.</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">VOTED:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">That each Fund&#146;s participation in the Joint Fidelity Bond
described above is in the best interest of each Fund.</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /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="center" style="font-size: 10pt; margin-top: 6pt"><B>ALLIANZ FUNDS MULTI-STRATEGY TRUST </B>(&#147;MST&#148;)<BR>
<B>ALLIANZ GLOBAL INVESTORS MANAGED ACCOUNTS TRUST </B>(&#147;AGIMAT&#148;)<BR>
<B>NFJ DIVIDEND, INTEREST &#038; PREMIUM STRATEGY FUND </B>(&#147;NFJ&#148;)<BR>
<B>AGIC CONVERTIBLE &#038; INCOME FUND </B>(&#147;NCV&#148;)<BR>
<B>AGIC CONVERTIBLE &#038; INCOME FUND II </B>(&#147;NCZ&#148;)<BR>
<B>AGIC EQUITY &#038; CONVERTIBLE INCOME FUND </B>(&#147;NIE&#148;)<BR>
<B>AGIC GLOBAL EQUITY &#038; CONVERTIBLE INCOME FUND </B>(&#147;NGZ&#148;)<BR>
<B>AGIC INTERNATIONAL &#038; PREMIUM STRATEGY FUND </B>(&#147;NAI&#148;)<BR>
<B>PCM FUND, INC. </B>(&#147;PCM&#148;)<BR>
<B>PIMCO CALIFORNIA MUNICIPAL INCOME FUND </B>(&#147;PCQ&#148;)<BR>
<B>PIMCO CALIFORNIA MUNICIPAL INCOME FUND II </B>(&#147;PCK&#148;)<BR>
<B>PIMCO CALIFORNIA MUNICIPAL INCOME FUND III </B>(&#147;PZC&#148;)<BR>
<B>PIMCO CORPORATE INCOME FUND </B>(&#147;PCN&#148;)<BR>
<B>PIMCO CORPORATE OPPORTUNITY FUND </B>(&#147;PTY&#148;)<BR>
<B>PIMCO INCOME STRATEGY FUND </B>(&#147;PFL&#148;)<BR>
<B>PIMCO INCOME STRATEGY FUND II </B>(&#147;PFN&#148;)<BR>
<B>PIMCO GLOBAL STOCKSPLUS &#038; INCOME FUND </B>(&#147;PGP&#148;)<BR>
<B>PIMCO HIGH INCOME FUND </B>(&#147;PHK&#148;)<BR>
<B>PIMCO INCOME OPPORTUNITY FUND </B>(&#147;PKO&#148;)<BR>
<B>PIMCO MUNICIPAL INCOME FUND </B>(&#147;PMF&#148;)<BR>
<B>PIMCO MUNICIPAL INCOME FUND II </B>(&#147;PML&#148;)<BR>
<B>PIMCO MUNICIPAL INCOME FUND III </B>(&#147;PMX&#148;)<BR>
<B>PIMCO NEW YORK MUNICIPAL INCOME FUND </B>(&#147;PNF&#148;)<BR>
<B>PIMCO NEW YORK MUNICIPAL INCOME FUND II </B>(&#147;PNI&#148;)<BR>
<B>PIMCO NEW YORK MUNICIPAL INCOME FUND III </B>(&#147;PYN&#148;)<BR>
<B>PIMCO STRATEGIC GLOBAL GOVERNMENT FUND INC. </B>(&#147;RCS&#148;)<BR>
<B>(each, a &#147;Fund&#148; and collectively, the &#147;Funds&#148;)</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 18pt">Minutes of the Joint Meeting of the Boards of Trustees held on September&nbsp;21-22, 2010
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U>Approval and Ratification Increase to Fidelity Bond Coverage and Agreement Among Joint
Insureds</U>
</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="90%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top" nowrap><DIV style="margin-left:0px; text-indent:-0px">VOTED (I):
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">That, the Trustees/Directors having considered all relevant
factors, the action of the Funds in joining Allianz Funds in a
Joint Investment Company Blanket Bond (the &#147;Joint Fidelity
Bond&#148;) for the term July&nbsp;1, 2010 to July&nbsp;1, 2011 issued by a
consortium of insurers covering larceny and embezzlement and
certain other acts, with a limit of liability of $62.5&nbsp;million,
for an aggregate one-year premium of $91,075, be and it is
hereby ratified and 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 and to be paid from the
Administrative Fee paid to AGIFM.</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" nowrap><DIV style="margin-left:0px; text-indent:-0px">VOTED (I):
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">That the form, terms and provisions of the agreement with the
other parties to the Joint Fidelity Bond, stating that in the
event recovery is</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /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="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="90%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<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">received under the bond as a result of the loss of any Fund and of one or more of
the other named insured parties, the other Funds 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 1940 Act (the &#147;Agreement Among
Joint Insureds&#148;), as presented to this meeting, be, and they hereby are, ratified
and approved, and that the action of the Funds in entering into the Agreement Among
Joint Insureds be, and it hereby is, ratified and approved.</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" nowrap><DIV style="margin-left:0px; text-indent:-0px">VOTED (I):
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">That the appropriate officers of the Funds be, and they hereby are, authorized to file
a copy of the Joint Fidelity Bond with the Securities and Exchange Commission within 10&nbsp;days
after receipt of the executed endorsement to the Joint Fidelity Bond, together with (1)&nbsp;a copy
of the resolution of the Board approving the amount, type, form, and coverage of the Joint
Fidelity Bond, (2)&nbsp;a statement showing the amount of a single insured bond which each fund
would have provided and maintained had it not been named as an insured under the Joint
Fidelity Bond, (3)&nbsp;a statement as to the period for which premiums have been paid, and (4)&nbsp;a
copy of the Fidelity Bond Agreement.</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



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



</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.4
<SEQUENCE>5
<FILENAME>y86980aexv99w4.htm
<DESCRIPTION>EX-99.4
<TEXT>
<HTML>
<HEAD>
<TITLE>exv99w4</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"><B>Exhibit&nbsp;4</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Fidelity Bond Policy</B><BR>
$62.5&nbsp;million policy
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><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="2">Gross Assets</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Required</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">9/30/2010</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Coverage</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="7" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Allianz Funds</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 style="font-size: 10pt"><TD>&nbsp;</TD></TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>AGIC Global Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>44,113,418</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>400,000</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>AGIC Systematic Growth Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>40,000,796</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>350,000</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>AGIC International Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>106,424,119</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>525,000</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>AGIC Mid-Cap Growth Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>7,070,941</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>200,000</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>AGIC Pacific Rim Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>142,095,894</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>600,000</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>AGIC Emerging Markets Opportunities Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>139,594,436</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>600,000</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>AGIC Income &#038; Growth Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>238,245,988</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>750,000</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>AGIC Growth Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>686,922,803</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,000,000</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>AGIC Opportunity Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>284,347,495</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>750,000</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>AGIC Target Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>316,383,606</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>750,000</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>&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"><B>NFJ Dividend Value Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>6,739,371,579</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>2,500,000</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>NFJ International Value Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,670,569,633</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,500,000</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>NFJ Large-Cap Value Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,153,578,352</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,250,000</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>NFJ Small-Cap Value Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>6,560,327,764</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>2,500,000</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>NFJ Mid-Cap Value Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>10,928,730</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>225,000</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>NFJ All-Cap Value Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>19,454,726</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>300,000</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>NFJ Renaissance Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>790,581,870</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,000,000</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>&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"><B>RCM Disciplined International Equity Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>43,255,805</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>400,000</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>RCM Global Resources Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>40,162,780</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>400,000</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>RCM Global Small-Cap Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>73,390,683</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>450,000</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>RCM Large-Cap Growth Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>413,060,984</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>750,000</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>RCM Mid-Cap Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>61,427,922</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>400,000</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>RCM Wellness Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>126,980,668</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>600,000</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>RCM Strategic Growth Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>10,937,717</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>225,000</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>RCM Technology Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,285,084,024</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,250,000</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>&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">Allianz Global Investors Managed Accounts Trust:</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"><B>Fixed Income Shares: Series&nbsp;C</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>3,456,747,638</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>2,300,000</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Fixed Income Shares: Series&nbsp;H</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>7,808,290</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>175,000</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Fixed Income Shares: Series&nbsp;M</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>4,719,090,113</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>2,500,000</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Fixed Income Shares: Series&nbsp;R</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>705,192,606</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>900,000</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Equity Shares: Series&nbsp;I</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>2,340,259</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>125,000</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>&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">AGIFM Sponsored Closed-End Funds:</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"><B>PIMCO Municipal Income Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>503,315,534</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>900,000</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>PIMCO New York Municipal Income Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>135,213,337</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>600,000</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>PIMCO California Municipal Income Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>398,899,908</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>750,000</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>PIMCO Municipal Income Fund II</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,062,546,846</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,250,000</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>PIMCO New York Municipal Income Fund II</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>203,825,108</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>600,000</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>PIMCO California Municipal Income Fund II</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>434,310,695</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>750,000</B></TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /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="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="2">Gross Assets</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Required</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">9/30/2010</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Coverage</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="7" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>PIMCO Municipal Income Fund III</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>529,098,863</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>900,000</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>PIMCO New York Municipal Income Fund III</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>85,473,241</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>525,000</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>PIMCO California Municipal Income Fund III</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>340,680,389</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>750,000</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>&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"><B>PIMCO Corporate Income Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>878,489,850</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,000,000</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>PIMCO Corporate Opportunity Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,931,681,989</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,700,000</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>PIMCO High Income Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,573,849,039</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,500,000</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>PIMCO Global StocksPLUS &#038; Income Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>296,758,248</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>750,000</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>PIMCO Income Strategy Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>383,226,690</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>750,000</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>PIMCO Income Strategy Fund II</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>759,231,033</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,000,000</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>PIMCO Income Opportunity Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>714,750,527</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,000,000</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>PCM Fund, Inc.</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>217,770,505</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>600,000</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>PIMCO Strategic Global Government Fund, Inc.</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,273,158,241</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,250,000</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>&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"><B>AGIC Convertible &#038; Income Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,031,802,719</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,250,000</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>AGIC Convertible &#038; Income Fund II</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>783,598,582</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,000,000</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>&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"><B>NFJ Dividend, Interest &#038; Premium Stratetgy Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,757,811,987</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,700,000</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>AGIC International &#038; Premium Stratetgy Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>136,582,926</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>600,000</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>AGIC Equity &#038; Convertible Income Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>409,349,003</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>750,000</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>AGIC Global Equity &#038; Convertible Income Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>112,104,951</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>525,000</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>&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">Allinaz Funds Multi-Strategy Trust:</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"><B>Allanz RCM Global EcoTrends Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>72,980,019</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>450,000</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Allanz RCM Global Water Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>54,913,405</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>400,000</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Allianz RCM Disciplined Equity Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>19,129,812</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</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"><B>Allianz RCM All Horizons Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>2,199,972</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>125,000</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Allianz RCM International Opportunities Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>13,162,015</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>225,000</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Allianz RCM China Equity Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>4,015,331</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>150,000</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>&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"><B>Allianz NFJ Global Dividend Value Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>17,328,928</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</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>&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"><B>Allianz Global Investors Solutions 2015 Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>6,054,882</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>175,000</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Allianz Global Investors Solutions 2020 Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>5,156,713</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>175,000</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Allianz Global Investors Solutions 2030 Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>5,967,292</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>175,000</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Allianz Global Investors Solutions 2040 Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>5,019,151</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>175,000</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Allianz Global Investors Solutions 2050 Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>4,826,832</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>175,000</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Allianz Global Investors Solutions Retirement Income Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6,665,722</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>175,000</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Allianz Global Investors Solutions Growth Allocation Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>5,349,791</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>175,000</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Allinaz Global Investors Solutions Core Allocation Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>213,501,239</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>600,000</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>&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"><B>Allianz AGIC Convertible Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>468,791,906</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>900,000</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Allianz AGIC High Yield Bond Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>77,487,926</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>450,000</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Allianz AGIC International Growth Opportunities Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>131,353,349</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>600,000</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Allianz AGIC Emerging Growth Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>21,309,906</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>300,000</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Allianz AGIC Small to Mid-Cap Growth Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>2,633,831</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>150,000</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Allianz AGIC Micro-Cap Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>56,024,453</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>400,000</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Allianz AGIC Ultra Micro-Cap Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>3,900,501</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>150,000</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Allianz AGIC International Growth Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>105,656,697</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>525,000</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>&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">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B><I>47,152,451,523</I></B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B><I>55,225,000</I></B></TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
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