<SEC-DOCUMENT>0000950123-11-089183.txt : 20111007
<SEC-HEADER>0000950123-11-089183.hdr.sgml : 20111007
<ACCEPTANCE-DATETIME>20111007150811
ACCESSION NUMBER:		0000950123-11-089183
CONFORMED SUBMISSION TYPE:	40-17G
PUBLIC DOCUMENT COUNT:		9
FILED AS OF DATE:		20111007
DATE AS OF CHANGE:		20111007
EFFECTIVENESS DATE:		20111007

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:		111132136

	BUSINESS ADDRESS:	
		STREET 1:		1633 BROADWAY
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		212 -739-3000

	MAIL ADDRESS:	
		STREET 1:		1633 BROADWAY
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

	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:		111132119

	BUSINESS ADDRESS:	
		STREET 1:		1633 BROADWAY
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		212 739 3000

	MAIL ADDRESS:	
		STREET 1:		1633 BROADWAY
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

	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:		111132143

	BUSINESS ADDRESS:	
		STREET 1:		C/O PIMCO ADVISORY SERVICES
		STREET 2:		1633 BROADWAY
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		212-739-3000

	MAIL ADDRESS:	
		STREET 1:		C/O PIMCO ADVISORY SERVICES
		STREET 2:		1633 BROADWAY
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

	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 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:		111132125

	BUSINESS ADDRESS:	
		STREET 1:		1633 BROADWAY
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		212-739-3000

	MAIL ADDRESS:	
		STREET 1:		1633 BROADWAY
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

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:		111132122

	BUSINESS ADDRESS:	
		STREET 1:		1633 BROADWAY
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		212-739-3000

	MAIL ADDRESS:	
		STREET 1:		1633 BROADWAY
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

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:		111132135

	BUSINESS ADDRESS:	
		STREET 1:		1633 BROADWAY
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		212-739-3000

	MAIL ADDRESS:	
		STREET 1:		1633 BROADWAY
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

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:		111132132

	BUSINESS ADDRESS:	
		STREET 1:		1633 BROADWAY
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		212-739-3000

	MAIL ADDRESS:	
		STREET 1:		1633 BROADWAY
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

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:		111132124

	BUSINESS ADDRESS:	
		STREET 1:		1633 BROADWAY
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		212-739-3000

	MAIL ADDRESS:	
		STREET 1:		1633 BROADWAY
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

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:		111132134

	BUSINESS ADDRESS:	
		STREET 1:		1633 BROADWAY
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		212-739-3000

	MAIL ADDRESS:	
		STREET 1:		1633 BROADWAY
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

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:		111132121

	BUSINESS ADDRESS:	
		STREET 1:		1633 BROADWAY
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		212-739-3000

	MAIL ADDRESS:	
		STREET 1:		1633 BROADWAY
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

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:		111132133

	BUSINESS ADDRESS:	
		STREET 1:		1633 BROADWAY
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		212-739-3000

	MAIL ADDRESS:	
		STREET 1:		1633 BROADWAY
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

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:		111132120

	BUSINESS ADDRESS:	
		STREET 1:		1633 BROADWAY
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		212-739-3000

	MAIL ADDRESS:	
		STREET 1:		1633 BROADWAY
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

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:		111132123

	BUSINESS ADDRESS:	
		STREET 1:		1633 BROADWAY
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		212-739-3000

	MAIL ADDRESS:	
		STREET 1:		1633 BROADWAY
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

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:		111132131

	BUSINESS ADDRESS:	
		STREET 1:		1633 BROADWAY
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		212-739-3000

	MAIL ADDRESS:	
		STREET 1:		C/O ALLIANZ GLOBAL INVESTORS FUND MANAGE
		STREET 2:		1633 BROADWAY
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

	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:		111132141

	BUSINESS ADDRESS:	
		STREET 1:		C/O ALLIANZ GLOBAL INVESTORS FUND MGMT
		STREET 2:		1633 BROADWAY
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		212-739-3000

	MAIL ADDRESS:	
		STREET 1:		C/O ALLIANZ GLOBAL INVESTORS FUND MGMT
		STREET 2:		1633 BROADWAY
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

	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:		111132127

	BUSINESS ADDRESS:	
		STREET 1:		1633 BROADWAY
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		212-739-3000

	MAIL ADDRESS:	
		STREET 1:		1633 BROADWAY
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

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:		111132140

	BUSINESS ADDRESS:	
		STREET 1:		C/O ALLIANZ GLOBAL INVESTORS FUND MGMT
		STREET 2:		1633 BROADWAY
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		212 739 3000

	MAIL ADDRESS:	
		STREET 1:		C/O ALLIANZ GLOBAL INVESTORS FUND MGMT
		STREET 2:		1633 BROADWAY
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

	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:		111132130

	BUSINESS ADDRESS:	
		STREET 1:		1633 BROADWAY
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		212-739-3000

	MAIL ADDRESS:	
		STREET 1:		1633 BROADWAY
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

	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:		111132142

	BUSINESS ADDRESS:	
		STREET 1:		1633 BROADWAY
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		212-739-3000

	MAIL ADDRESS:	
		STREET 1:		1633 BROADWAY
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

	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:		111132129

	BUSINESS ADDRESS:	
		STREET 1:		1633 BROADWAY
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		212 739-3000

	MAIL ADDRESS:	
		STREET 1:		1633 BROADWAY
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

	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:		111132128

	BUSINESS ADDRESS:	
		STREET 1:		1633 BROADWAY
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		212 739-3000

	MAIL ADDRESS:	
		STREET 1:		1633 BROADWAY
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

	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:		111132137

	BUSINESS ADDRESS:	
		STREET 1:		C/O ALLIANZ GLOBAL INVESTORS FUND MGMT
		STREET 2:		1633 BROADWAY
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		212-739-3000

	MAIL ADDRESS:	
		STREET 1:		C/O ALLIANZ GLOBAL INVESTORS FUND MGMT
		STREET 2:		1633 BROADWAY
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

	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:		111132139

	BUSINESS ADDRESS:	
		STREET 1:		C/O ALLIANZ GLOBAL INVESTORS FUND MGMT
		STREET 2:		1633 BROADWAY
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		212-739-3000

	MAIL ADDRESS:	
		STREET 1:		C/O ALLIANZ GLOBAL INVESTORS FUND MGMT
		STREET 2:		1633 BROADWAY
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

	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:		111132138

	BUSINESS ADDRESS:	
		STREET 1:		C/O ALLIANZ GLOBAL INVESTORS FUND MGMT
		STREET 2:		1633 BROADWAY
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		212-739-3000

	MAIL ADDRESS:	
		STREET 1:		C/O ALLIANZ GLOBAL INVESTORS FUND MGMT
		STREET 2:		1633 BROADWAY
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

	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:			1031

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-22121
		FILM NUMBER:		111132126

	BUSINESS ADDRESS:	
		STREET 1:		C/O ALLIANZ GLOBAL INVESTORS FUND MANAGE
		STREET 2:		1633 BROADWAY
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		212-739-3000

	MAIL ADDRESS:	
		STREET 1:		C/O ALLIANZ GLOBAL INVESTORS FUND MANAGE
		STREET 2:		1633 BROADWAY
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

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:		111132118

	BUSINESS ADDRESS:	
		STREET 1:		C/O ALLIANZ GLOBAL INVESTORS
		STREET 2:		1633 BROADWAY
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		212-739-3000

	MAIL ADDRESS:	
		STREET 1:		C/O ALLIANZ GLOBAL INVESTORS
		STREET 2:		1633 BROADWAY
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
</SEC-HEADER>
<DOCUMENT>
<TYPE>40-17G
<SEQUENCE>1
<FILENAME>y92983ae40v17g.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="y92983ay9298301.gif" alt="(ALLIANZ LOGO)">
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">October&nbsp;7, 2011
</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="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="95%">&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">Re:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Joint Insured Fidelity Bond of</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">Allianz Funds (File No.&nbsp;811-06161)</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">Allianz Funds Multi-Strategy Trust (File No.&nbsp;811-22167)</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">Allianz Global Investors Managed Accounts Trust (File No.&nbsp;811-9721)</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">PIMCO Municipal Income Fund (File No.&nbsp;811-10377)</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">PIMCO California Municipal Income Fund (File No.&nbsp;811-10379)</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">PIMCO New York Municipal Income Fund (File No.&nbsp;811-10381)</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">PIMCO Municipal Income Fund II (File No.&nbsp;811-21076)</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">PIMCO California Municipal Income Fund II (File No.&nbsp;811-21077)</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">PIMCO New York Municipal Income Fund II (File No.&nbsp;811-21078)</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">PIMCO Municipal Income Fund III (File No.&nbsp;811-21187)</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">PIMCO California Municipal Income Fund III (File No.&nbsp;811-21188)</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">PIMCO New York Municipal Income Fund III (File No.&nbsp;811-21189)</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">PIMCO Corporate Income Fund (File No.&nbsp;811-10555)</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">PIMCO Corporate Opportunity Fund (File No.&nbsp;811-21238)</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">AGIC Convertible &#038; Income Fund (File No.&nbsp;811-21284)</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">PIMCO High Income Fund (File No.&nbsp;811-21311)</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">AGIC Convertible &#038; Income Fund II (File No.&nbsp;811-21338)</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">PIMCO Income Strategy Fund (File No.&nbsp;811-21374)</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">PIMCO Income Strategy Fund II (File No.&nbsp;811-21601)</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">NFJ Dividend, Interest &#038; Premium Strategy Fund (File No.&nbsp;811-21417)</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">AGIC International &#038; Premium Strategy Fund (File No.&nbsp;811-21724)</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">PIMCO Global StocksPLUS &#038; Income Fund (File No.&nbsp;811-21734)</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">AGIC Equity &#038; Convertible Income Fund (File No.&nbsp;811-21989)</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">AGIC Global Equity &#038; Convertible Income Fund (File No.&nbsp;811-22067)</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">PIMCO Income Opportunity Fund (File No.&nbsp;811-22121)</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">PCM Fund Inc. (File No.&nbsp;811-07816)</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">PIMCO Strategic Global Government Fund Inc. (File No.&nbsp;811-08216)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">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: 40pt"><b>Allianz Global Investors Fund Management LLC<BR>
1633 Broadway<BR>
New York, NY 10019<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="y92983ay9298301.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="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" 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, 2011, 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="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" 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="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" 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="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" 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, 2011 through the period ending July&nbsp;1, 2012.
</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: 6pt">Very truly yours,
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><font style="border-bottom: 1px solid #000000; width: 35%">/s/ Thomas J. Fuccillo</font><BR>
Thomas J. Fuccillo<BR>
Secretary and Chief Legal Officer

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 40pt"><b>Allianz Global Investors Fund Management LLC<BR>
1633 Broadway<BR>
New York, NY 10019<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>y92983aexv99w1.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: 6pt"><B>Exhibit 1</B></DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>INVESTMENT COMPANY BLANKET
BOND <BR><BR>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="4%">&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>DECLARATIONS</B>
</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 colspan="3" align="center" valign="top"><B>BOND NUMBER</B>
</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">

<TD valign="top" colspan="3"><DIV style="margin-left:0px; text-indent:-0px"><B>Item&nbsp;1.</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name of Insured
</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;&nbsp;Principal Address
</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">&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>Bond Period from 12:01&nbsp;a.m. on 07/01/2011 to 12:01&nbsp;a.m. on 07/01/2012<br><br>
The effective date of the termination or cancellation of this bond, standard
time at the Principle Address as to each of the said dates.</TD>
</TR>
</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>Limits of Liability &#151;<BR>
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="76%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Limit of Liability</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">DeductibleAmount</TD>
    <TD>&nbsp;</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 &#151; FIDELITY</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">25,000,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">25,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Insuring Agreement B &#151; AUDIT EXPENSE</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">50,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</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 &#151; ON PREMISES</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">25,000,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">25,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Insuring Agreement D &#151; IN TRANSIT</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">25,000,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">25,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Insuring Agreement E &#151; FORGERY OR ALTERATION</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">25,000,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">25,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Insuring Agreement F &#151; SECURITIES</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">25,000,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">25,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Insuring Agreement G &#151; COUNTERFEIT CURRENCY</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">25,000,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">25,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Insuring Agreement H &#151; STOP PAYMENT</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">50,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</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 &#151; UNCOLLECTIBLE ITEMS OF DEPOSIT</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">50,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</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 &#151; COMPUTER SYSTEMS</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">25,000,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">25,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Insuring Agreement K &#151; UNAUTHORIZED SIGNATURES</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">50,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</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 &#151; AUTOMATED PHONE SYSTEMS</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">25,000,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">25,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Insuring Agreement M &#151; TELEFASCIMILE</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">25,000,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">25,000</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 colspan="4" align="left">If NOT COVERED is inserted above opposite any specified Insuring Agreement or Coverage,
such Insuring Agreement or Coverage and any other reference thereto in the bond shall be
deemed to be deleted there from.</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;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><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="1%"></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:<BR>
103012 (10/09), 103003 (10/09), 89644 (7/05), 103014 (10/09), 103005 (10/09),<BR> 91222
(12/09), SR5538, 41206 (9/84), Riders 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="1%"></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 of 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="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><B>Item&nbsp;7.</B></TD>
    <TD>&nbsp;</TD>
    <TD>Premium Amount:<BR>&nbsp;&nbsp;&nbsp;$41,003<BR><BR>
FHFC &#151; Florida Hurricane Fund: N/A<BR><BR>
Total Premium: $41,003</TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">Issue Date: 09/26/2011
</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 Signature&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: 0pt"><B>RIDER No.&nbsp;1</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.&nbsp;6214333 in favor of Allianz Funds effective as of 07/01/2011.
</DIV>

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


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


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

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



<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Allianz Funds</B><BR>
AGIC Emerging Markets Opportunities Fund<BR>
AGIC Global Fund<BR>
AGIC Systematic Growth Fund<BR>
AGIC Income &#038; Growth Fund<BR>
AGIC International Fund<BR>
AGIC Mid-Cap Growth Fund<BR>
AGIC 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 NFJ Small-Cap Value Fund<BR>
NFJ Renaissance Fund<BR>
AGIC Growth Fund<BR>
AGIC Opportunity Fund<BR>
AGIC Target<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<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 RCM Redwood Fund<BR>
RCM All Alpha Fund<BR>
AGIC International Growth Fund<BR>
AGIC Convertible Fund<BR>
AGIC Focused Opportunity Fund<BR>
AGIC High Yield Bond Fund<BR>
AGIC International Growth Opportunities Fund<BR>
AGIC Emerging Growth Fund<BR>
AGIC Small to Mid Cap Growth Fund<BR>
AGIC Micro Cap 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">AGIC 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<BR>
Allianz Global Investors Solutions 2040 Fund<BR>
Allianz Global Investors Solutions 2050 Fund<BR>
Allianz Global Investors Solutions Retirement<BR>
Income Fund<BR>
Allianz Global Investors Solutions Global<BR>
Allocation Fund <I>(name change effect. 3/31/2011)</I><BR>
Allianz Global Investors Solutions Global Growth<BR>
Allocation Fund <I>(name change effect. 3/31/2011)</I>

</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 Fund Management 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>
AGIC Convertible &#038; Income Fund<BR>
PIMCO High Income Fund<BR>
AGIC 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>
AGIC International &#038; Premium Strategy Fund<BR>
PIMCO Global StocksPLUS &#038; Income Fund<BR>
AGIC Equity &#038; Convertible Income Fund<BR>
AGIC Global Equity &#038; Convertible Income Fund<BR>
PIMCO Income Opportunity Fund<BR>
PIMCO Strategic Global Government Fund, Inc.<BR>
PCM Fund, Inc.

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">And all now existing or hereinafter created funds

</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>

<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;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>

<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 07/01/2011.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&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 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 J</B>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">To be
attached to and form part of 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 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">COMPUTER SYSTEMS
</DIV>

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



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

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<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">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; margin-left: 2%">(a)&nbsp;computers with related peripheral components, including storage components, wherever
located,</div>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">
(b)&nbsp;systems and application software,</div>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">
 (c)&nbsp;terminal devices, </div>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">
(d)&nbsp;related
communication networks or customer communication systems, and</div>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">
 (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="3%" nowrap align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(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>

</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;&nbsp;&nbsp;(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 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;&nbsp;&nbsp;(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the initial paragraph of the bond preceding the Insuring Agreements which reads &#147;...at
any time but discovered during the Bond Period.&#148;
</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)
</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Section&nbsp;9-NON-REDUCTION AND
NON-ACCUMULATION OF LIABILITY AND TOTAL LIABILITY</TD>
</TR>

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

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><DIV style="margin-left:15px; text-indent:-15px">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>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><DIV style="margin-left:15px; text-indent:-15px">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>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><DIV style="margin-left:15px; text-indent:-15px">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>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><DIV style="margin-left:15px; text-indent:-15px">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>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><DIV style="margin-left:15px; text-indent:-15px">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>
</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"><DIV style="margin-left:15px; text-indent:-15px">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>


<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;&nbsp;&nbsp;(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>60&nbsp;days after receipt by the Insured of written notice from the Underwriter of its
desire to terminate or cancel coverage under this Rider, or</TD>
</TR>

</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;&nbsp;&nbsp;(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>immediately upon receipt by the Underwriter of a written request from the Insured to
terminate or cancel coverage under this Rider.</TD>
</TR>

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

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><DIV style="margin-left:15px; text-indent:-15px">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>

<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"><DIV style="margin-left:15px; text-indent:-15px">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>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><DIV style="margin-left:15px; text-indent:-15px">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>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><DIV style="margin-left:15px; text-indent:-15px">14. This rider shall become effective at 12:01&nbsp;a.m. Standard time on <B>07/01/2011.</B>
</DIV></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>

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<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 07/01/2011 forms a part of
</DIV>

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

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

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">By: National Union Fire Ins of Pittsburgh
</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"><SUP style="FONT-size: 85%; vertical-align: text-top">&#169;</SUP>
Chartis 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 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 align="left" style="font-size: 10pt; margin-top: 6pt">To be
attached to and form a part of Investment Company Blanket Bond No. <B>6214333 </B></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 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 $50,000, 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>07/01/2011</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 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: 6pt">To be
attached to and form part of Bond No. <B>6214333. Issued to Allianz Funds.</B>
</DIV>



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

<DIV 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. Definitions. The following terms used in this Insuring Agreement shall have the
following meanings:
</DIV>


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


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


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


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


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


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 10%">(1)&nbsp;Election in Application: 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)&nbsp;Logging: 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
</DIV>

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

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<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: 12%">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)&nbsp;Identity Test: 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)&nbsp;Written Confirmation: A written confirmation of any APS Transaction shall be mailed to
the shareholder(s) to whose account such APS Transaction relates, at the original record
address, by the end of the Insured&#146;s next regular processing cycle, but in no event later
than five business days following such APS Transaction.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 10%">(5)&nbsp;Access to APS Equipment: 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. Exclusions. It is further understood and agreed that this extension shall not cover:
</DIV>


<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>

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

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<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: 10%">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; margin-left: 10%">3.
This rider shall become effective as of 12:01&nbsp;a.m. on
<B>07/01/2011</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 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: 6pt">To be attached to and form part of Investment Company Blanket Bond No. <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="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>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="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Loss resulting by reason of the Insured having transferred, paid or delivered any funds or
Property, established any credit, debited any account, or given any value relying on any
fraudulent instructions sent by a customer or financial institution by Telefacsimile
Transmission directed to the Insured, authorizing or acknowledging the transfer, payment,
or delivery of funds or property, the establishment of a credit, debiting of any account,
or the giving of value by the Insured, but only if such telefacsimile instructions:</TD>
</TR>

</TABLE>
</DIV>

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

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

</TABLE>
</DIV>

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

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

</TABLE>
</DIV>

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

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

</TABLE>
</DIV>

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

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The 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>

</TABLE>
</DIV>

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

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>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="1%" nowrap align="left">4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Nothing herein contained shall be held to vary, alter, waive or extend any of the terms,
limitations conditions or agreements of the attached bond other than as above stated.</TD>
</TR>

</TABLE>
</DIV>

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

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">5.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>This rider is effective as of 12:01&nbsp;a.m. on
<B>07/01/2011</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: 12pt"><B>AMENDMENT TO TERMINATION</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.
<B>6214333 </B>in favor of <B>Allianz Funds</B>.
</DIV>

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


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


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The attached bond is 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="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>SECTION 13. TERMINATION</TD>
</TR>

</TABLE>
</DIV>

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

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

</TABLE>
</DIV>

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

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

</TABLE>
</DIV>

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

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

</TABLE>
</DIV>

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

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

</TABLE>
</DIV>

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

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

</TABLE>
</DIV>

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

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

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

</TABLE>
</DIV>

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

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">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="1%" nowrap align="left">2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Nothing herein contained shall be held to vary, alter, waive, or extend any of the terms,
limitations, conditions, or provisions of the attached bond other than as above stated.</TD>
</TR>

</TABLE>
</DIV>

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

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>This rider is effective as of 12:01&nbsp;a.m. on 07/01/2011.</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: 12pt"><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;6214333 in favor of
Allianz Funds.
</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 07/01/11 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>
<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"><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="1%" 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: 4%">(A)&nbsp;FIDELITY
</DIV>


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


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

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

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="12%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" 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="12%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>to obtain thereby an improper financial benefit for the
Employee, or for any person or entity intended by the Employee
to receive such benefit.</TD>
</TR>

</TABLE>
</DIV>


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


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

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

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

</TABLE>
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" style="border-bottom: 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: 6pt">To be attached to and form part of No.&nbsp;6214333 in favor of Allianz Funds.
</DIV>

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


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


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

</TABLE>
</DIV>

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

<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>(10) registered representatives and retired Employees for a period of sixty (60)&nbsp;days
after their retirement.</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>Nothing herein contained shall be held to vary, alter, waive or extend any of the terms,
limitations, conditions or agreements of the attached bond other than as above stated.</TD>
</TR>

</TABLE>
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/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. 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
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%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" 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="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Nothing herein contained shall be held to vary, alter, waive or extend any of the
terms, limitations, conditions or agreements of the attached bond other than as above
stated.</TD>
</TR>

</TABLE>
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/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. </B>7
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">This rider, effective 07/01/11 forms a part of bond number 6214333 issued to Allianz<BR>
Funds by Chartis.

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>AMEND LOSS &#150; NOTICE &#150; PROOF &#150; 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="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Section&nbsp;4, Loss &#150; Notice &#150; Proof &#150; 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="3%" style="background: transparent">&nbsp;</TD>
    <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="3%" style="background: transparent">&nbsp;</TD>
    <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="3%" style="background: transparent">&nbsp;</TD>
    <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="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" 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="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>receives written notice of an actual or potential claim by a third party
which alleges that the Insured is liable under circumstance
which would cause a reasonable person to assume that a loss covered by
the bond has been or will be incurred even though the exact amount or
details of loss may not be then known.&#148;</TD>
</TR>

</TABLE>
</DIV>

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


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


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

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" 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="6%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" 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</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;of a loss that exceeds, or is likely to exceed, $100,000.&#148;
</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%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Nothing herein contained shall be held to vary, alter, waive or extend any of the
terms, limitations, conditions or agreements of the attached bond other than as
above stated.</TD>
</TR>

</TABLE>
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" style="border-bottom: 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 REPRENTATIVE&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>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: 6pt">(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="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" 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="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" 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: 6pt">(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: 6pt">(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="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" 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>

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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">



</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%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" 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: 6pt">(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: 6pt">(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: 6pt">(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="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" 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>

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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">



</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="2%" 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="2%" 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="2%" 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="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" 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="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" 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="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" 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="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" 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: 6pt">(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: 6pt">(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: 2%">For having either complied with or failed to
comply with any written notice of any
customer, shareholder or subscriber of the
Insured or any Authorized Representative of
such customer, shareholder or subscriber to
stop payment of any check or draft made or
drawn by such customer, shareholder or
subscriber or any Authorized Representative of
such customer, shareholder or subscriber, or
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">For having refused to pay any check or draft
made or drawn by any customer, shareholder or
subscriber of the Insured or any Authorized
Representative of such customer, shareholder
or subscriber.
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">(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 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>ADDITIONAL OFFICES OR EMPLOYEES-CONSOLIDATION
OR MERGER-NOTICE</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%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" 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="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" 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: 6pt">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 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">C.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>COURT COSTS AND ATTORNEYS&#146; FEES
(Applicable to all Insuring Agreements or
Coverages now or hereafter forming part of this
bond)</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 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)
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="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" 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="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" 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="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" 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>

<!-- 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">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: 6pt">D. FORMER EMPLOYEE
</DIV>

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


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

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">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="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" 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="2%" 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="2%" 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="2%" 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="2%" 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="2%" 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="2%" 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="2%" 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="2%" nowrap align="left">(8)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>those persons so designated in Section
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="2%" 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="9%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" 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="9%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" 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="9%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" 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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<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="9%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">d)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>an administrator authorized by
written agreement to keep
financial and/or other required
records,</TD>
</TR>

</TABLE>
</DIV>


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


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


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">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="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" 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="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" 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="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" 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="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" 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>
<P align="center" style="font-size: 10pt"><!-- Folio -->6<!-- /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 align="left" style="font-size: 10pt; margin-top: 6pt">SECTION 2. EXCLUSIONS
</DIV>

<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="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" 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="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" 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="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" 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="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" 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="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" 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="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" 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="2%" 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="2%" 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="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" 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)&nbsp;insurance carried by
said armored motor vehicle company for
the benefit of users of its service, and (c)
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="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" 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="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" 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="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" 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="2%" 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="2%" 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">



</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="2%" 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="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" 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="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" 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="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" 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: 6pt">SECTION 3. ASSIGNMENT OF RIGHTS
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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: 6pt">SECTION 4. LOSS-NOTICE&#150;PROOF LEGAL PROCEEDINGS
</DIV>


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


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


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

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" 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="2%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>receives written notice of an actual or
potential claim by a third party which
alleges that the Insured is liable under
circumstance</TD>
</TR>

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



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</DIV>

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<DIV style="font-family: '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: 6pt">SECTION 5. VALUATION OF PROPERTY
</DIV>


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


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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: 6pt">SECTION 7. LOST SECURITIES
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;&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;&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;&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: 6pt">SECTION 8. SALVAGE
</DIV>


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



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</DIV>

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<DIV style="font-family: '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: 6pt">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;&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="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" 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="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" 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="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" 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="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" 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="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" 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)&nbsp;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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sub-section (c)&nbsp;is not applicable to any situation
to which the language of sub-section (d)&nbsp;applies.
</DIV>

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


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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: 6pt">SECTION 11. OTHER INSURANCE
</DIV>


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


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">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&nbsp;9, NON-REDUCTION AND
NON- ACCUMULATION OF LIABILITY AND

</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;&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;&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: 6pt">SECTION 13. TERMINATION
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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
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;&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;&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;&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="4%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" 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
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="4%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" 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="4%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" 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: 6pt">SECTION 14. RIGHTS AFTER TERMINATION
OR CANCELLATION
</DIV>


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



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<DIV 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;&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="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" 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="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" 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;&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: 6pt">SECTION 15. CENTRAL HANDLING OF
SECURITIES
</DIV>


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



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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">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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: 6pt">SECTION 16. ADDITIONAL COMPANIES
INCLUDED AS INSURED
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" 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="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" 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="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" 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="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" 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="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" 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: 6pt">SECTION 17. NOTICE AND CHANGE OF
CONTROL
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" 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="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" 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="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" 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;&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;&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;&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: 6pt">SECTION 18. CHANGE OR MODIFICATION
</DIV>


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



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<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"><IMG src="y92983ay9298305a.gif" alt="(LOGO)">
</DIV>

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


<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 80%"><B>Jason B. Pundt</B><BR>
Manager
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">August&nbsp;17, 2011
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Annalisa Brown<BR>
Integro Insurance Brokers<BR>
1 State Street Plaza, 9<sup>th</sup> Floor<BR>
New York, NY 10004
</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"><B>Re:</B>&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD><B>Allianz Funds</B><br><B>
FS 559-46-74 &#151; 04</B></TD>
</TR>

</TABLE>

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

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Thank you for insuring your account with Great American. Enclosed please find two copies of the
Excess Follow Form&nbsp;Certificate and Riders No.&nbsp;1 and 2. The Original is for the Insured and the Copy
is for your office. Please feel free to contact me at any time if you have questions about the
policy.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Should this account have a potential claim situation, your primary contact is:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-left: 3%; margin-top: 6pt">Fidelity &#038; Crime Claims Division<BR>
Great American Insurance Group<BR>
One Waterside Crossing<BR>
Windsor, CT 06095<BR>
(860)&nbsp;285-0056<BR>
(860)&nbsp;688-8188 FAX
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Thanks again Annalisa. I look forward to working with you on other accounts.
</DIV>

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



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

</TR>
<TR>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ Jason B. Pundt
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD colspan="2" align="left">Jason B. Pundt&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD colspan="2" align="left">Manager<BR>
925.988.2278 PH<BR>
925.935.9361 Fax<BR>
<U>jpundt@gaic.com</U>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


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

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">1350 Treat Boulevard, Suite&nbsp;300<BR>
Walnut Creek, CA 94597<BR>
Member of American Financial Group
</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"><IMG src="y92983ay9298305a.gif" alt="(LOGO)">
</DIV>
<DIV align="center" style="font-size: 10pt; margin-top: 18pt">FIDELITY &#38; 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;<B>FS 559-46-74 &#151; 04</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">Name and Address of Insured:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>Allianz Funds</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"><B>680 Newport Center Drive, Suite&nbsp;250</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"><B>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="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" 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 Carrier (s)&nbsp;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="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" 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: 6pt">ITEM 1. BOND PERIOD: from 12:01&nbsp;a.m. on <B>07/01/2011</B> to 12:01&nbsp;a.m. on <B>07/01/2012</B>
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 0pt">(inception)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(expiration)
</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" nowrap><DIV style="margin-left:0px; text-indent:-0px">ITEM 2. LIMIT OF LIABILITY AT INCEPTION:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>$25,000,000 Single Loss Limit and $25,000,000 in the
Aggregate (National Union Fire Insurance Company of Pittsburgh, PA (Chartis) Investment Company
Blanket Bond Insuring Agreements A,C, D, E, F, G, J, L, M.) Underlying coverage as noted in Item&nbsp;3.</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="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="54%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">A)</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"> CARRIER:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="3" align="left" valign="top"><B>National Union Fire Insurance Company of Pittsburgh, PA</B>
</TD>
</TR>
<TR valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">LIMIT:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="3" align="left" valign="top"><B>$25,000,000 and $25,000,000 in the Aggregate</B>
</TD>
</TR>
<TR valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">DEDUCTIBLE:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" colspan="2"><B>$ 25,250,000</B></TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">BOND NUMBER:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" colspan="2"><B>6214333</B></TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">BOND PERIOD:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" colspan="2"><B>07/01/2011 &#151; 07/01/2012</B></TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">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="font-size: 10pt; margin-top: 6pt">ITEM 5. By acceptance of this Bond, you give us notice canceling prior Bond No. <B>FS 559-46-74 &#151; 03</B>,
the cancellation to be effective at the same time this Bond becomes effective.
</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 17<SUP>th</SUP> day of August, 2011.
</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">GREAT AMERICAN INSURANCE COMPANY<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/
[ILLEGIBLE]
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="CENTER">(Attorney-in-l4ct)&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Excess Follow Form&nbsp;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="y92983ay9298305a.gif" alt="(LOGO)">
</DIV>
<DIV align="center" style="font-size: 10pt; margin-top: 18pt">FIDELITY &#38; 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
Bond No. <B>FS 559-46-74 &#151; 04</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">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 a.m. on 07/01/2011 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="y92983ay9298305a.gif" alt="(LOGO)">
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 6pt">FIDELITY &#38; CRIME DIVISION
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>RIDER
NO. 2</B></DIV>
<DIV align="center" style="font-size: 10pt; margin-top: 6pt"><B>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. <B>FS 559-46-74 &#151; 04</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 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: 6pt">From: 07/01/2011
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">To:   &nbsp;&nbsp;&nbsp;&nbsp;07/01/2012
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Is: &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Thirty Seven Thousand Three Hundred Six and 00/100 Dollars ($37,306.)
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">2. This rider shall become effective as of 12:01&nbsp;a.m. on 07/01/2011 standard time.
</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="y92983ay9298307.gif" alt="(BERKLEY ASSET PROTECTION LOGO)">
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">August&nbsp;19, 2011
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Annalisa Brown<BR>
Integro Insurance Brokers<BR>
1 State Street Plaza &#151; 9th floor<BR>
New York, NY 10004

</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%" align="left">Re:</TD>
    <TD>Allianz Funds<BR>Policy # BFI-71000379-11</TD>
</TR>
</TABLE>

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

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Thank you for insuring your account with Berkley Asset Protection. Attached please find a copy of
the policy for the above referenced account. In the event of loss, please contact:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-left: 3%; margin-top: 6pt">Mr.&nbsp;Gregory Smith<BR>
Executive Vice President<BR>
317 Madison Avenue, Suite&nbsp;1104<BR>
New York, NY 10017<BR>
Phone: (212)&nbsp;922-0659<BR>
Fax: (866)&nbsp;735-9073<BR>
E-Mail: <u>GSmith@BerkleyAssetPro.com</u>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Please feel free to contact me with any additional questions.
</DIV>

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


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

</TR>
<TR>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ Patricia Logan
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD colspan="2" align="left">Patricia Logan&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD colspan="2" align="left">Vice President, Regional Manager<br>
<u>plogan@berkleyassetpro.com</u>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">317 Madison Ave, Suite 1104, New York, NY 10017 (212) 922-0659
</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="y92983ay9298309.gif" alt="(BERKLEY ASSET PROTECTION LOGO)">
</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="5%">&nbsp;</TD>
    <TD width="40%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top" rowspan="5"><DIV style="margin-left:0px; text-indent:-0px"><IMG src="y92983ay9298307.gif" alt="(BERKLEY ASSET PROTECTION LOGO)">
</DIV></TD>

    <TD>&nbsp;</TD>
    <TD align="center" valign="top" nowrap><B>BERKLEY REGIONAL INSURANCE COMPANY</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>PRODUCER:</B></TD>
</TR>
<TR valign="bottom">
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">A Berkley Company<BR>
475 Steamboat Road<br>Greenwich, CT 06830
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Integro Insurance Brokers<BR>
1 State Street Plaza - 9th floor<br>New York, NY10004</TD>
</TR>
<TR valign="bottom">
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"></TD>
</TR>
<TR valign="bottom">
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</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="10%">&nbsp;</TD>
    <TD width="60%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="60%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="60%">&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-71000379-11&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>PRIOR
BOND NUMBER:</B> BFI-71000379-10</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"><B>NAMED INSURED:</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Allianz Funds</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">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="5" valign="top" align="left">(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>
    <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"><B>MAILING ADDRESS:</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">680 Newport Center Drive, Suite&nbsp;250</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">Newport Beach, CA 92660</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"><!-- 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 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">7/1/2011 to 7/1/2012</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">(12:01&nbsp;A.M. at your Mailing Address shown above)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</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="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="94%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 1px">
    <TD width="1%" style="border-left: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD colspan="3" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</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">&nbsp;</TD>
    <TD colspan="3" valign="top" align="left"><B>TERMS AND CONDITIONS:</B></TD>
    <TD width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD width="1%" style="border-left: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD colspan="3" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</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">&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">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 contribution
insurance, for loss which:</TD>
    <TD width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD width="1%" style="border-left: 1px solid #000000">&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD align="left" valign="top"><br>(a)&nbsp;</TD>
    <TD align="left" valign="top"><br> would have been paid under the
underlying Carrier(s) in the UNDERYING COVERAGE schedule below but
for the fact that such loss exceeds the Single Loss Limit of
Liability of the underlying Carrrier(s), and </TD>
    <TD width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD width="1%" style="border-left: 1px solid #000000">&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD align="left" valign="top"><br>(b)&nbsp;</TD>
    <TD align="left" valign="top"><br> 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>
    <TD width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD width="1%" style="border-left: 1px solid #000000">&nbsp;</TD>
    <TD colspan="3" valign="top" align="left"><br>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.</TD>
    <TD width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD width="1%" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD colspan="3" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD width="1%" style="border-top: 1px solid #000000">&nbsp;</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="1%">&nbsp;</TD>
    <TD width="18%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="75%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 1px">
    <TD width="1%" style="border-left: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD colspan="3" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</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">&nbsp;</TD>
    <TD valign="top" nowrap><DIV style="margin-left:0px; text-indent:-0px"><B>UNDERLYING COVERAGE:</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD width="1%" style="border-left: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD colspan="3" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</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">&nbsp;</TD>
    <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>
    <TD width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD width="1%" style="border-left: 1px solid #000000">&nbsp;</TD>

<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>
    <TD width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD width="1%" style="border-left: 1px solid #000000">&nbsp;</TD>
    <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>
    <TD width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD width="1%" style="border-left: 1px solid #000000">&nbsp;</TD>
    <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>
    <TD width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD width="1%" style="border-left: 1px solid #000000">&nbsp;</TD>
    <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>
    <TD width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD width="1%" style="border-left: 1px solid #000000">&nbsp;</TD>
    <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>
    <TD width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD width="1%" style="border-left: 1px solid #000000">&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Bond Period:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;7/1/2011 to 7/1/2012</TD>
    <TD width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD width="1%" style="border-left: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD colspan="3" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD width="1%" style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD width="1%" style="border-left: 1px solid #000000">&nbsp;</TD>
    <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 width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD width="1%" style="border-left: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD colspan="3" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</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">&nbsp;</TD>
    <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>
    <TD width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD width="1%" style="border-left: 1px solid #000000">&nbsp;</TD>

<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>
    <TD width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD width="1%" style="border-left: 1px solid #000000">&nbsp;</TD>
    <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>
    <TD width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD width="1%" style="border-left: 1px solid #000000">&nbsp;</TD>
    <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 559-46-74-04</TD>
    <TD width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD width="1%" style="border-left: 1px solid #000000">&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Bond Period:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;7/1/2011 to 7/1/2012</TD>
    <TD width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD width="1%" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD colspan="3" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD width="1%" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD width="1%">&nbsp;</TD>
    <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 width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD width="1%" style="border-left: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD colspan="3" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</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">&nbsp;</TD>
    <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>
    <TD width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD width="1%" style="border-left: 1px solid #000000">&nbsp;</TD>
    <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>
    <TD width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD width="1%" style="border-left: 1px solid #000000">&nbsp;</TD>
    <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>
    <TD width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD width="1%" style="border-left: 0px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD colspan="3" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD width="1%" style="border-right: 0px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
</TR>

<TR valign="bottom"><!-- Blank Space -->
    <TD width="1%">&nbsp;</TD>
    <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 width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD width="1%" style="border-left: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD colspan="3" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</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">&nbsp;</TD>
    <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>
    <TD width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD width="1%" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD colspan="3" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD width="1%" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD width="1%">&nbsp;</TD>
    <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 width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD width="1%" style="border-left: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD colspan="3" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</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">&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">Forms and Riders Forming Part of this Bond When Issued:</TD>
    <TD width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD width="1%" style="border-left: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-left: 0px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-left: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</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">&nbsp;</TD>

<TD valign="top" align="center"><DIV style="margin-left:0px; text-indent:-0px">Form&nbsp;Number<br> and Edition Date
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom" style="border-left: 1px solid #000000">&nbsp;Description of Form or Rider:</TD>
    <TD width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD width="1%" style="border-left: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-left: 0px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-left: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</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">&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">BAP 39 01 01 09
</DIV></TD>
    <TD>&nbsp;</TD>

<TD align="left" valign="top"  style="border-left: 1px solid #000000">&nbsp;Financial
Institution Excess Follow Form Certificate</TD>
    <TD width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD width="1%" style="border-left: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-left: 0px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-left: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</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">&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">SR 5862 08 68
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-left: 1px solid #000000">&nbsp;California Premium Rider</TD>
    <TD width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD width="1%" style="border-left: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-left: 0px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-left: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</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">&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">BAP 31 06 08 09
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-left: 1px solid #000000">&nbsp;Exhaustion of Underlying Limits Rider</TD>
    <TD width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD width="1%" style="border-left: 0px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-left: 0px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-left: 0px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD width="1%" style="border-right: 0px solid #000000; border-top: 1px solid #000000">&nbsp;</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="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">BAP 39 01 01 09
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">Page 1 of 2</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="left" style="font-size: 10pt; margin-top: 6pt">Cancellation of Prior Insurance Issued by Us:<BR>
By acceptance of this Bond you give us notice canceling prior policy Numbers: BFI-71000379-10<BR>
the cancellation to be effective at the time this Bond becomes effective.

</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">IN WITNESS WHEREOF, Berkley Regional Insurance Company designated herein has executed and attested these presents.
</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="10%">&nbsp;</TD>
    <TD width="40%">&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/ [ILLEGIBLE]
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/s/ [ILLEGIBLE]</TD>
</TR>
<TR style="font-size: 1px">

<TD valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Secretary
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">President</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="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">BAP 39 01 01 09
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">Page 2 of 2</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="48%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="48%">&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">

<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Policy Number: BFI-71000379-11
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">SR 58 62</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.&nbsp;BFI-71000379-11
</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">&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;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>7/1/2011 </B></u>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">to <u><B>7/1/2012</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;This rider is effective as of noon on 7/1/2011
</DIV>

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

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






<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /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="48%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="48%">&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">BOND NUMBER: BFI-71000379-11
</DIV></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="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="4%">&nbsp;</TD>
    <TD width="48%">&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>BAP 31 06 08 09</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top"><B>Page 1 of 1</B></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-99.2
<SEQUENCE>3
<FILENAME>y92983aexv99w2.htm
<DESCRIPTION>EX-99.2
<TEXT>
<HTML>
<HEAD>
<TITLE>exv99w2</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;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, 2011 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>

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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">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>

<!-- 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;IN WITNESS WHEREOF the parties have caused these presents to be executed by their officers
hereunto duly authorized all as of the day and year first above written.
</DIV>

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

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="54%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="33%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
</TR>
<TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">                                    /s/ Brian S. Shlissel
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Brian S. Shlissel&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">President and CEO&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left"><B>Allianz Funds<BR>
Allianz Funds Multi-Strategy Trust</B>&nbsp;</TD>
    <TD>&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&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>y92983aexv99w3.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;14-15, 2011
and September&nbsp;19-20, 2011, 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, 2011.
</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/ Thomas J. Fuccillo
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">Thomas J. Fuccillo&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">Secretary&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt"><!-- Folio -->&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>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 June&nbsp;14-15, 2011
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><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="8%">&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 for the period of July&nbsp;1, 2011 to and including July&nbsp;1, 2012 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
Allianz Global Investors Fund Management LLC once an aggregate premium figure is
provided by the insurance companies, plus any additional amount as may be necessary to
cover the addition of the Funds to the Investment Company Blanket Bond, be and it is
hereby approved, each Fund&#146;s share of the premium to be no greater than a pro rata
amount based on the sum of the minimum bond requirement (or, if larger, the assigned
coverage amount) for each party to the Joint Fidelity</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="8%">&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">Bond in accordance with Rule&nbsp;17g-1 under the Investment Company Act of 1940.</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 be, and they hereby are, authorized to approve insurers
included in the consortium of insurers referenced in the foregoing Vote, 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 be, and they each hereby are, 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 be, and they hereby 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 Votes; 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 or renew an Agreement Among
Joint Insureds 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 Investment Company Blanket Bond described above
be, and it hereby is, determined to be 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: 18pt"><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;19-20, 2011
</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="8%">&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 (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, 2011 to July&nbsp;1, 2012 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 $90,996, 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 sum of the
minimum bond requirement (or if larger, the assigned coverage
amount) for each party to the Joint Fidelity Bond in accordance
with Rule&nbsp;17g-1 under the Investment Company Act of 1940.</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="8%">&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>y92983aexv99w4.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: 6pt"><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="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&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">6/30/2011</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 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>AGIC Global Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>41,045,820</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" 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>23,904,662</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>AGIC International Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>88,188,412</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>AGIC Mid-Cap Growth Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>7,516,576</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>AGIC Pacific Rim Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>127,510,497</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 Emerging Markets Opportunities Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>153,812,842</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>777,736,538</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>AGIC Growth Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>655,934,229</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>AGIC Opportunity Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>310,378,540</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>343,718,469</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>8,099,953,066</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 Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>2,223,299,395</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>NFJ Large-Cap Value Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,262,813,811</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>7,911,310,025</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>12,501,996</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>23,766,097</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>842,054,740</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>40,891,229</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>RCM Global Resources Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>57,896,250</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>92,575,057</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">
    <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>467,341,368</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>82,815,197</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 Wellness Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>154,619,499</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>10,533,767</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>RCM Technology Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,502,247,687</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"><!-- 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">Allian 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>4,064,155,357</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;H</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>8,225,540</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>4,842,921,259</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>806,771,666</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>Equity Shares: Series&nbsp;I</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>2,663,490</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>481,892,287</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>126,762,710</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">
    <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>374,275,621</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>1,003,754,820</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>191,403,450</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>404,796,752</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 Municipal Income Fund III</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>498,908,689</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 III</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>80,947,201</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>PIMCO California Municipal Income Fund III</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>317,523,518</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 Internaional &#038; Premium Strategy Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>137,218,527</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">
    <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>1,015,637,543</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>PIMCO Corporate Opportunity Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,839,397,666</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>1,658,269,784</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>288,996,309</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>467,558,171</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>853,505,124</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>852,470,327</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, Inc.</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>218,046,865</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>1,310,307,893</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>1,060,157,755</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>804,873,864</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>AGIC Equity &#038; Convertible Income Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>448,661,217</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>119,819,448</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"><B>NFJ Dividend, Interest &#038; Premium Stratetgy Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,806,279,461</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1,700,000</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="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&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">6/30/2011</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 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>53,108,089</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>Allanz RCM Global Water Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>79,259,525</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>Allianz RCM All Horizons Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>2,572,215</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" style="background: #cceeff">
    <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>23,381,429</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>Allianz RCM Disciplined Equity Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>49,374,960</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 International Growth Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>117,470,065</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">
    <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>37,972,688</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" 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>12,220,401</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>Allianz Global Investors Solutions 2020 Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>6,468,373</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>7,747,246</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>6,347,479</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>6,192,323</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"><B>12,058,629</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" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Allianz Global Investors Solutions Global Growth Allocation Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>11,391,204</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>Allianz Global Investors Solutions Global Allocation Fund Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>248,304,570</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>Allianz AGIC Convertible Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>763,699,566</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>Allianz AGIC High Yield Bond Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>93,631,688</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>Allianz AGIC International Growth Opportunities Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>146,728,737</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>22,103,864</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 AGIC Small to Mid-Cap Growth Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>3,455,470</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>60,635,991</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>7,099,142</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 RCM China Equity Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>5,222,189</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" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Allianz AGIC Focused Opportunity Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>4,320,430</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 RCM Redwood Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>12,783,229</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" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Allianz RCM All Alpha Fund</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>8,521,121</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="top"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B><I>53,202,638,705</I></B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B><I>57,250,000</I></B></TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
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!.S\_
`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
