Allianz Global Investors Fund · Allianz Global Investors Fund - Allianz US Income - 1)Allianz US...

Audited Annual Reportas at 30 September 2014

Allianz Global Investors Fund

Allianz Global Investors Europe GmbH(the legal successor ofAllianz Global Investors Luxembourg S.A. since 1 July 2014)

Socit dInvestissement Capital VariableR.C.S. Luxembourg Nr. 71.182


General Information

Allianz Global Investors Fund (the Company) is incorporated under the laws of the Grand Duchy of Luxembourg as an open-ended investment company with variable share capital. The Company is authorised by the Commission de Surveillance du Secteur Financier as a Socit dInvestissement Capital Variable (SICAV) and registered pursuant to Part I of the Luxembourg amended Law of 17 December 2010 on Undertakings for Collective Investment. The Company was established on 9 August 1999.

The Company has launched different Subfunds (the Subfunds) and each Subfund has issued shares in a number of classes and currencies. The following Subfunds were available for subscription and redemption on 30 September 2014:

- Allianz Advanced Fixed Income Euro1)

- Allianz Advanced Fixed Income Short Duration1)

- Allianz Asia Pacific Equity- Allianz Asian Multi Income Plus- Allianz Asian Small Cap Equity1)

- Allianz Best Styles Euroland Equity- Allianz Best Styles Europe Equity1)

- Allianz Best Styles Global Equity1)

- Allianz Best Styles US Equity1)

- Allianz Brazil Equity- Allianz BRIC Equity- Allianz China Equity- Allianz Convertible Bond1)

- Allianz Discovery Asia Strategy1)

- Allianz Discovery Europe Strategy1)

- Allianz Discovery Germany Strategy1)

- Allianz Dynamic Commodities1)

- Allianz Dynamic Multi Asset Plus1)

- Allianz Dynamic Multi Asset Strategy 151)



- Allianz Emerging Asia Equity- Allianz Emerging Markets Bond Extra 20181)

- Allianz Emerging Markets Equity Opportunities1)

- Allianz Emerging Markets Short Duration Defensive Bond1)

- Allianz Enhanced Short Term Euro- Allianz Euro Bond1)

- Allianz Euro Bond Strategy1)

- Allianz Euro High Yield Bond- Allianz Euro High Yield Defensive1)

- Allianz Euro Inflation-linked Bond1)

- Allianz Euro Investment Grade Bond Strategy1)

- Allianz Euroland Equity Growth- Allianz Euroland Equity SRI1)

- Allianz Europe Conviction Equity- Allianz Europe Equity Growth- Allianz Europe Equity Growth Select- Allianz Europe Mid Cap Equity1)

- Allianz Europe Small Cap Equity1)

- Allianz European Equity Dividend- Allianz Flexi Asia Bond- Allianz Flexible Bond Strategy1)

- Allianz Floating Rate Notes Plus1)

- Allianz German Equity1)

- Allianz Global Agricultural Trends- Allianz Global EcoTrends- Allianz Global Equity- Allianz Global Equity Selection1)

- Allianz Global Equity Unconstrained- Allianz Global Fundamental Strategy1)

- Allianz Global Hi-Tech Growth- Allianz Global Metals and Mining- Allianz Global Small Cap Equity- Allianz Global Sustainability- Allianz Greater China Dynamic- Allianz HKD Income- Allianz Hong Kong Equity- Allianz Income and Growth- Allianz India Equity- Allianz Indonesia Equity- Allianz Japan Equity- Allianz Korea Equity- Allianz Laufzeitfonds Extra 20191)

- Allianz Little Dragons- Allianz Merger Arbitrage Strategy1)

- Allianz Oriental Income- Allianz Renminbi Currency1)

- Allianz Renminbi Fixed Income1)

- Allianz Structured Alpha Strategy1)

- Allianz Target Return Bond1)

- Allianz Target Return Bond US1)

- Allianz Thailand Equity- Allianz Tiger- Allianz Total Return Asian Equity- Allianz Treasury Short Term Plus Euro1)

- Allianz US Equity Dividend1)

- Allianz US Equity Fund- Allianz US High Yield1) Not authorized in Hong Kong and not available to Hong Kong Residents.

RMB H-2 share class (for all Subfunds) is not authorized in Hong Kong and not available to Hong Kong Residents.


- Allianz US Income- Allianz US Small Cap Equity1)

A separate pool of assets and separate accounting records are maintained for each Subfund.

The figures presented in this report relate to the period from 1 October 2013 to 30 September 2014. They should not necessarily be taken as an indication of the future development of the Subfunds.

Subscriptions are only valid if made on the basis of the current Prospectus, the Articles of Incorporation, the Key Investor Information Document supplemented by the latest available audited Annual Report. If the latest Annual Report was published more than eight months ago, then the most recent Semi-Annual Report must also be made available.

The Prospectus, the Articles of Incorporation, the Key Investor Information Document as well as the respective Annual and Semi-Annual Reports can be obtained from the Management Company, the Custodian and each Paying and Information Agent without charge.

Some transactions conducted in the reporting period do no longer appear in the Investment Portfolio. The Statement of Changes in the composition of the securities portfolio during the reference period is available free of charge on request at the registered office of the Company.

Allianz Global Investors Fund c/o Allianz Global Investors Europe GmbH, Luxembourg Branch

6A, route de TrvesL-2633 SenningerbergInternet: www.allianzglobalinvestors.luE-Mail: [email protected] 1) Not authorized in Hong Kong and not available to Hong Kong Residents.

RMB H-2 share class (for all Subfunds) is not authorized in Hong Kong and not available to Hong Kong Residents.


Important notice to our Shareholders

Merger of the Management Company

On 24 March 2014, the Management of the absorbing company (Allianz Global Investors Europe GmbH) and that of the absorbed company (Allianz Global Investors Luxembourg S.A.) decided on a cross-border merger of the absorbed company into the absorbing company pursuant to Art. 261 et seqq. of the Luxembourg law on commercial companies of 10 August 1915 as amended and Sections 2 et seqq., 46 et seqq. and 122a et seqq. of the German Transformation act (UmwG).

The merger plan was drafted pursuant to the provisions on mergers under Luxembourg and German law as defined in Directive 2005/56/EC on cross-border mergers and submitted to the Memorial, Recueil des Socits et Associations (Memorial), the Official Gazette of the Grand Duchy of Luxembourg on 12 April 2014. The merger became effective on 1 July 2014. The merger does not have any negative impact on the shareholders.

Launch of new Subfunds

With the approval of the Luxembourg Supervisory Authority, the Board of Directors of the Company decided to launch the following new Subfunds:

with effect from 14 January 2014- Allianz Emerging Markets Equity Opportunities - Allianz Europe Mid Cap Equity

with effect from 11 February 2014- Allianz Discovery Asia Strategy

with effect from 11 March 2014- Allianz Best Styles Europe Equity- Allianz Dynamic Multi Asset Strategy 50

with effect from 18 March 2014- Allianz Euro Inflation-linked Bond

with effect from 1 April 2014- Allianz Emerging Markets Short Duration Defensive Bond

with effect from 8 April 2014- Allianz Emerging Markets Bond Extra 2018

with effect from 13 May 2014- Allianz Asian Small Cap Equity

with effect from 12 June 2014- Allianz US Income

with effect from 17 June 2014- Allianz Global Equity Selection

with effect from 29 July 2014- Allianz US Small Cap Equity

with effect from 27 August 2014- Allianz Dynamic Multi Asset Strategy 15- Allianz Dynamic Multi Asset Strategy 75

with effect from 23 September 2014- Allianz Floating Rate Notes Plus- Allianz Laufzeitfonds Extra 2019

Liquidation of Subfunds

With the approval of the Luxembourg Supervisory Authority, the Board of Directors of the Company decided to close the following Subfunds:

with effect from 7 October 2013- Allianz Real Estate Securities Europe

with effect from 25 February 2014- Allianz Dynamic Emerging Multi Asset

Reimbursement of Withholding Tax

Two days after liquidation of the Subfund Allianz Real Estate Securities Europe, the French Government reimbursed the Subfund for overpaid taxes in the amount of EUR 83,607.33. As no provision were made at the time of the liquidation, the reimbursement as well as the interests (EUR 92,771.42) have been fully paid back together with the proceeds of the liquidation to the last investor of the Subfund.

Merger of the Subfunds

With the approval of the Luxembourg Supervisory Authority, the Board of Directors of the Company decided to merge the following Subfunds:

with effect from 12 November 2013


- Allianz Global Small Cap IT (USD) of Allianz Institutional Investors Series into Allianz Global Small Cap Equity IT (USD) of Allianz Global Investors Fund

with effect from 17 December 2013- Allianz High Dividend Discount A (EUR) into Allianz European

Equity Dividend A (EUR) of Allianz Global Investors Fund- Allianz High Dividend Discount I (EUR) into Allianz European

Equity Dividend IT (EUR) of Allianz Global Investors Fund

with effect from 13 March 2013- ALLIANZ EUROPE CONVERTIBLE IC (EUR), ID (EUR), R (EUR)

and W (EUR) into Allianz Convertible Bond PT (EUR) and AT (EUR) of Allianz Global Investors Fund

with effect from 15 April 2014- Allianz Commodities Strategy A (EUR) and I (EUR) of Allianz

Global Investors Fund into Allianz Dynamic Commodities A (EUR) and I (EUR)

with effect from 25 April 2014- Allianz Growing Markets Protect AT (EUR) of Allianz Global

Investors Fund into Allianz Flexible Bond Strategy A (EUR) of Allianz Global Investors Fund

- Protect Global Winner 2014 AT (EUR) of Allianz Global Investors Fund into Allianz Flexible Bond Strategy A (EUR) of Allianz Global Investors Fund.

Conversion into Masterfunds pursuant to Art. 77 of the Luxembourg amended law of 17 December 2010 on Undertakings for Collective Investment

The Board of Directors of the Company has decided to convert the following Subfunds of the Company, into a master undertaking for collective investment in transferable securities (the master UCITS) according to Art. 77 section 3 of the Luxembourg amended law of 17 December 2010 on Undertakings for Collective Investment:

with effect from 25 October 2013- Allianz Japan Equity

with effect from 15 November 2013- Allianz Global Hi-Tech Growth

with effect from 29 November 2013- Allianz German Equity

with effect from 15 July 2014- Allianz US Equity Fund

The feeder UCITS invests in share class F (EUR), F2 (EUR), or W (H-EUR) of the master UCITS fund and receives shares of the master UCITS in return for its investment in the master UCITS fund. Such Master-Feeder structure neither alters the investment objective, the investment principles, the investment manager nor the name of the respective Subfund.

Amendments to the Sales Prospectus

With the approval of the Luxembourg Supervisory Authority, the Board of Directors of the Company has furthermore decided the following changes to become effective on 21 November 2013:

- The name of Allianz PIMCO Treasury Short Term Plus Euro was changed into Allianz Treasury Short Term Plus Euro.

- PIMCO Deutschland GmbH acting as Investment Manager for Allianz PIMCO Treasury Short Term Plus Euro was replaced by Allianz Global Investors Europe GmbH.

With the approval of the Luxembourg Supervisory Authority, the Board of Directors of the Company has furthermore decided the following changes to become effective on 28 November 2013:

- The name of Allianz PIMCO Euro Bond was changed into Allianz Euro Bond.

- PIMCO Deutschland GmbH acting as Investment Manager for Allianz PIMCO Euro Bond was replaced by Allianz Global Investors France SA.

With the approval of the Luxembourg Supervisory Authority, the Board of Directors of the Company has furthermore decided the following changes to become effective on 28 January 2014:

- The name of Allianz Enhanced Fixed Income Euro was changed into Allianz Advanced Fixed Income Euro.

With the approval of the Luxembourg Supervisory Authority, the Board of Directors of the Company has furthermore decided the following changes to become effective on 28 March 2014:

- The name of Allianz European Equity was changed into Allianz Europe Conviction Equity.

The name changes are valid for the whole document and only the actual name is shown in the residual document.


With the approval of the Luxembourg Supervisory Authority, the Board of Directors of the Company has furthermore decided the following changes to become effective on 1 July 2014:

- Introduction of an All-in-Fee at share class level. For the exact All-in-Fee of each Subfund, please refer to the fee table at the Notes to the Financial Statements.

The Prospectus (dated July 2014) and the Key Investor Information Document (dated September 2014) for additional Information on the Company are accessible or available free of charge for the Shareholders at the registered office of the Management Company, the Custodian and each Paying and Information Agent.

Subsequent Events

Renaming of the Management Company

The Board of Directors of Allianz Global Investors Fund (the Company) announces the renaming of the Management Company from Allianz Global Investors Europe GmbH into Allianz Global Investors GmbH targeted to become effective on or after 28 November 2014.

Following the renaming of the Management Company the Luxembourg Branch of the Management Company acting as Central Administration Agent will be renamed from Allianz Global Investors Europe GmbH, Luxembourg Branch into Allianz Global Investors GmbH, Luxembourg Branch on the same day.

Furthermore, on the same day, the UK Branch and the Succursale franaise of the Management Company acting as Investment Managers will be renamed respectively from Allianz Global Investors Europe GmbH, UK Branch into Allianz Global Investors GmbH, UK Branch and Allianz Global Investors Europe GmbH, Succursale franaise into Allianz Global Investors GmbH, Succursale franaise.

Launch of new Subfunds

With the approval of the Luxembourg Supervisory Authority, the Board of Directors of Allianz Gobal Investors Fund (the Company) decided to launch the following new Subfunds:

with effect from 28 October 2014- Allianz Emerging Markets Flexible Bond- Allianz Dynamic Multi Asset Strategy 50

with effect from 4 December 2014- Allianz Dynamic Multi Asset Strategy 15

Merger of the Subfunds

With the approval of the Luxembourg Supervisory Authority, the Board of Directors of Allianz Gobal Investors Fund (the Company) decided to merge the following Subfunds:

with effect from 19 November 2014- ALLIANZ EURO INFLATION IC (EUR), ISIN FR0010072520 into

Allianz Euro Inflation-linked Bond AT (EUR), ISIN LU1073005974 of Allianz Global Investors Fund

and

- ALLIANZ EURO INFLATION RC (EUR), ISIN FR0010319848 into Allianz Euro Inflation-linked Bond AT (EUR), ISIN LU1073005974 of Allianz Global Investors Fund

with effect from 25 November 2014- Allianz Inflationsschutz A (EUR), ISIN LU0202944186 into

Allianz Euro Inflation-linked Bond A (EUR), ISIN LU0988442017 of Allianz Global Investors Fund

with effect from 26 November 2014- ALLIANZ MULTI ACTIONS EUROPE C (EUR), ISIN FR0007017389

into Allianz Europe Conviction Equity AT (EUR), ISIN LU0327455985 of Allianz Global Investors Fund

For any additional changes of the Subfunds, please refer to the Prospectus (dated November 2014).

The Prospectus (dated November 2014) and the Key Investor Information Document (dated November 2014) for additional Information on the Company are accessible or available free of charge for the Shareholders at the registered office of the Management Company, the Custodian and each Paying and Information Agent.

This page is left blank intentionally.

Allianz Global EcoTrends . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 109

Allianz Global Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 111

Allianz Global Equity Selection . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 113

Allianz Global Equity Unconstrained . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 115

Allianz Global Fundamental Strategy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 117

Allianz Global Hi-Tech Growth . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 119

Allianz Global Metals and Mining . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 121

Allianz Global Small Cap Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 123

Allianz Global Sustainability . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 125

Allianz Greater China Dynamic . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 127

Allianz HKD Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 129

Allianz Hong Kong Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 131

Allianz Income and Growth . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 133

Allianz India Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 135

Allianz Indonesia Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 136

Allianz Japan Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 137

Allianz Korea Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 139

Allianz Laufzeitfonds Extra 2019 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 140

Allianz Little Dragons . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 142

Allianz Merger Arbitrage Strategy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 144

Allianz Oriental Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 146

Allianz Renminbi Currency . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 148

Allianz Renminbi Fixed Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 150

Allianz Structured Alpha Strategy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 152

Allianz Target Return Bond . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 154

Allianz Target Return Bond US . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 156

Allianz Thailand Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 158

Allianz Tiger . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 159

Allianz Total Return Asian Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 161

Allianz Treasury Short Term Plus Euro . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 163

Allianz US Equity Dividend . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 165

Allianz US Equity Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 167

Allianz US High Yield . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 169

Allianz US Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 171

Allianz US Small Cap Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 173

Liquidation Report

Allianz Dynamic Emerging Multi Asset . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 175

Allianz Growing Markets Protect . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 177

Allianz Real Estate Securities Europe . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 179

Protect Global Winner 2014 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 180

Combined Financial Statements of the Company

Statement of Operations

Statement of Net Assets

Statement of Changes in Net Assets

Contents

Performance of the Subfunds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4

Managers Report and Subfund Assets

Allianz Advanced Fixed Income Euro . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22

Allianz Advanced Fixed Income Short Duration . . . . . . . . . . . . . . . . . . . . . . . . 24

Allianz Asia Pacific Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26

Allianz Asian Multi Income Plus . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28

Allianz Asian Small Cap Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30

Allianz Best Styles Euroland Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32

Allianz Best Styles Europe Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34

Allianz Best Styles Global Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35

Allianz Best Styles US Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37

Allianz Brazil Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39

Allianz BRIC Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41

Allianz China Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 43

Allianz Convertible Bond . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 45

Allianz Discovery Asia Strategy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 47

Allianz Discovery Europe Strategy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 49

Allianz Discovery Germany Strategy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 51

Allianz Dynamic Commodities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 53

Allianz Dynamic Multi Asset Plus . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 55

Allianz Dynamic Multi Asset Strategy 15 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 57



Allianz Emerging Asia Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 63

Allianz Emerging Markets Bond Extra 2018 . . . . . . . . . . . . . . . . . . . . . . . . . . . 65

Allianz Emerging Markets Equity Opportunities . . . . . . . . . . . . . . . . . . . . . . . . 67

Allianz Emerging Markets Short Duration Defensive Bond . . . . . . . . . . . . . . 69

Allianz Enhanced Short Term Euro . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 71

Allianz Euro Bond . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 73

Allianz Euro Bond Strategy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 75

Allianz Euro High Yield Bond . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 77

Allianz Euro High Yield Defensive . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 79

Allianz Euro Inflation-linked Bond . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 80

Allianz Euro Investment Grade Bond Strategy . . . . . . . . . . . . . . . . . . . . . . . . . 82

Allianz Euroland Equity Growth . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 84

Allianz Euroland Equity SRI . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 86

Allianz Europe Conviction Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 87

Allianz Europe Equity Growth . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 89

Allianz Europe Equity Growth Select . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 91

Allianz Europe Mid Cap Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 93

Allianz Europe Small Cap Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 95

Allianz European Equity Dividend . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 97

Allianz Flexi Asia Bond . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 99

Allianz Flexible Bond Strategy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 101

Allianz Floating Rate Notes Plus . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 103

Allianz German Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 105

Allianz Global Agricultural Trends . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 107

Financial Statements of the Subfunds

Investment Portfolios

Statement of Operations

Statement of Net Assets

Statement of Changes in Net Assets

Statement of Changes in Shares

Allianz Advanced Fixed Income Euro . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 185

Allianz Advanced Fixed Income Short Duration . . . . . . . . . . . . . . . . . . . . . . . . 194

Allianz Asia Pacific Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 202

Allianz Asian Multi Income Plus . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 207

Allianz Asian Small Cap Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 212

Allianz Best Styles Euroland Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 217

Allianz Best Styles Europe Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 222

Allianz Best Styles Global Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 228

Allianz Best Styles US Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 237

Allianz Brazil Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 245

Allianz BRIC Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 249

Allianz China Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 255

Allianz Convertible Bond . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 262

Allianz Discovery Asia Strategy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 268

Allianz Discovery Europe Strategy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 272

Allianz Discovery Germany Strategy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 279

Allianz Dynamic Commodities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 284

Allianz Dynamic Multi Asset Plus . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 288




Allianz Emerging Asia Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 308

Allianz Emerging Markets Bond Extra 2018 . . . . . . . . . . . . . . . . . . . . . . . . . . . 313

Allianz Emerging Markets Equity Opportunities . . . . . . . . . . . . . . . . . . . . . . . . 320

Allianz Emerging Markets Short Duration Defensive Bond . . . . . . . . . . . . . . 326

Allianz Enhanced Short Term Euro . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 333

Allianz Euro Bond . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 339

Allianz Euro Bond Strategy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 346

Allianz Euro High Yield Bond . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 354

Allianz Euro High Yield Defensive . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 363

Allianz Euro Inflation-linked Bond . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 370

Allianz Euro Investment Grade Bond Strategy . . . . . . . . . . . . . . . . . . . . . . . . . 374

Allianz Euroland Equity Growth . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 382

Allianz Euroland Equity SRI . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 389

Allianz Europe Conviction Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 394

Allianz Europe Equity Growth . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 399

Allianz Europe Equity Growth Select . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 408

Allianz Europe Mid Cap Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 413

Allianz Europe Small Cap Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 418

Allianz European Equity Dividend . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 424

Allianz Flexi Asia Bond . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 433

Allianz Flexible Bond Strategy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 442

Allianz Floating Rate Notes Plus . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 451

Allianz German Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 455

Allianz Global Agricultural Trends . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 460

Allianz Global EcoTrends . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 464

Allianz Global Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 469

Allianz Global Equity Selection . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 474

Allianz Global Equity Unconstrained . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 478

Allianz Global Fundamental Strategy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 482

Allianz Global Hi-Tech Growth . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 488

Allianz Global Metals and Mining . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 492

Allianz Global Small Cap Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 497

Allianz Global Sustainability . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 505

Allianz Greater China Dynamic . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 510

Allianz HKD Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 514

Allianz Hong Kong Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 520

Allianz Income and Growth . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 526

Allianz India Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 542

Allianz Indonesia Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 546

Allianz Japan Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 550

Allianz Korea Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 555

Allianz Laufzeitfonds Extra 2019 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 559

Allianz Little Dragons . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 565

Allianz Merger Arbitrage Strategy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 570

Allianz Oriental Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 577

Allianz Renminbi Currency . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 584

Allianz Renminbi Fixed Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 591

Allianz Structured Alpha Strategy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 599

Allianz Target Return Bond . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 606

Allianz Target Return Bond US . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 611

Allianz Thailand Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 617

Allianz Tiger . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 621

Allianz Total Return Asian Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 626

Allianz Treasury Short Term Plus Euro . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 632

Allianz US Equity Dividend . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 638

Allianz US Equity Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 643

Allianz US High Yield . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 650

Allianz US Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 662

Allianz US Small Cap Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 667

Allianz Dynamic Emerging Multi Asset . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 673

Allianz Growing Markets Protect . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 677

Allianz Real Estate Securities Europe . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 681

Protect Global Winner 2014 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 685

Notes to the Financial Statements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 689

Note for investors in Switzerland . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 705

Audit Report . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 713

Further Unaudited Information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 714

Note for investors in the Federal Republic of Germany . . . . . . . . . . . . . . . . . . 736

Note for investors in the Republic of Austria . . . . . . . . . . . . . . . . . . . . . . . . . . . 737

Directory . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 738

4


Performance of the Subfunds

Name of the Subfund Share Class Launch date Initial Subscription Price Liquidation/ NAV per share at 1 year 2 years 3 years 5 years 10 years Since launchMerger date liquidation/merger date (30/09/2013- (30/09/2012- (30/09/2011- (30/09/2009- (30/09/2004- (Launch date -

30/09/2014) 1) 30/09/2014) 30/09/2014) 30/09/2014) 30/09/2014) 30/09/2014) 1)

% % % % % %Allianz Advanced Fixed Income Euro IT (EUR) 10/10/2012 1,000.00 8.09 11.38

W (EUR) 06/03/2012 1,000.00 8.17 12.01 16.52

Allianz Advanced Fixed Income Short Duration A (EUR) 26/03/2013 100.00 3.37 4.13

Euro Reserve Plus P+G A2 (EUR) 12/06/2014 100.00 0.52

Euro Reserve Plus WM P (EUR) 12/06/2014 1,000.00 0.58

W (EUR) 08/01/2013 1,000.00 3.81 5.03

Allianz Asia Pacific Equity A (EUR) 11/01/2005 10.00 17.32 17.98 41.62 49.82 131.42

CT (EUR) 04/06/2007 10.00 20/02/2014 10.53 3.54

I (EUR) 11/01/2005 10.00 18.35 20.07 45.42 56.53 149.89

A (USD) 11/03/2005 10.00 9.89 15.34 32.15 29.62 97.58

I (USD) 11/01/2005 10.00 10.89 17.33 35.89 35.19 140.34

Allianz Asian Multi Income Plus AM (H2-AUD) 15/09/2014 10.00 -2.10

AM (HKD) 16/08/2011 10.00 1.65 2.60 13.27 5.77

AM (USD) 17/05/2010 10.00 1.36 2.39 13.68 21.61

AT (USD) 21/10/2011 10.00 1.52 2.62 13.60

IT (USD) 15/07/2009 10.00 2.14 3.79 15.99 36.78 48.00

Allianz Asian Small Cap Equity AT (USD) 13/05/2014 10.00 0.40

IT (USD) 13/05/2014 1,000.00 0.85

WT3 (USD) 13/05/2014 1,000.00 0.75

Allianz Best Styles Euroland Equity A (EUR) 31/05/2010 100.00 11.98 33.65 56.29 35.73

AT (EUR) 04/06/2007 10.00 12.03 33.70 56.10 24.02 -14.30

CT (EUR) 04/06/2007 10.00 11.34 32.21 53.92 20.97 -17.50

I (EUR) 12/07/2005 10.00 12.68 35.37 59.24 28.00 33.40

Allianz Best Styles Europe Equity I (EUR) 11/03/2014 1,000.00 4.07

WT (EUR) 12/08/2014 1,000.00 4.25

Allianz Best Styles Global Equity A (EUR) 27/06/2014 100.00 5.46

P (EUR) 15/05/2014 1,000.00 9.56

W (EUR) 06/08/2013 1,000.00 22.81 21.29

XT (EUR) 12/12/2013 1,000.00 18.72

Allianz Best Styles US Equity AT (EUR) 06/06/2013 100.00 27.78 30.12

AT (H2-EUR) 06/06/2013 100.00 19.50 24.04

W (H2-EUR) 04/12/2013 1,000.00 11.80

WT (EUR) 04/11/2013 1,000.00 21.89

WT (H-EUR) 04/11/2013 1,000.00 14.55

I (USD) 04/12/2013 1,000.00 11.55

WT (USD) 17/07/2012 1,000.00 20.19 40.73 49.87

Allianz Brazil Equity AT (EUR) 06/10/2010 100.00 -0.37 -13.74 -4.59 -27.66

A (GBP) 06/10/2010 100.00 -7.06 -15.76 -14.41 -35.36

AT (USD) 06/10/2010 10.00 -6.66 -15.73 -10.95 -34.10

Allianz BRIC Equity AT (EUR) 15/06/2007 100.00 7.53 -0.71 11.06 5.33 -22.15

CT (EUR) 29/05/2007 100.00 6.71 -2.20 8.57 1.46 -22.76

I (EUR) 29/05/2007 1,000.00 8.61 1.30 14.43 10.70 -12.32

AT (HUF) 17/08/2010 25,000.00 12.02 8.74 18.25 -3.15

AT (USD) 25/02/2008 10.00 0.53 -3.06 3.64 -9.24 -43.00

Allianz China Equity PT (AUD) 30/03/2012 1,000.00 13.56 42.33 37.83

AT (H2-RMB) 11/04/2012 10.00 6.40 20.67 19.70

A (EUR) 13/01/2011 100.00 12.00 18.92 43.40 -5.46

CT (EUR) 02/10/2009 100.00 11.57 17.61 40.56 31.34

PT (EUR) 05/11/2012 1,000.00 13.51 12.40

A (GBP) 09/06/2009 100.00 4.65 16.29 28.78 13.09 29.70

5



30/09/2014) 1) 30/09/2014) 30/09/2014) 30/09/2014) 30/09/2014) 30/09/2014) 1)

% % % % % %Allianz Advanced Fixed Income Euro IT (EUR) 10/10/2012 1,000.00 8.09 11.38

W (EUR) 06/03/2012 1,000.00 8.17 12.01 16.52

Allianz Advanced Fixed Income Short Duration A (EUR) 26/03/2013 100.00 3.37 4.13

Euro Reserve Plus P+G A2 (EUR) 12/06/2014 100.00 0.52

Euro Reserve Plus WM P (EUR) 12/06/2014 1,000.00 0.58

W (EUR) 08/01/2013 1,000.00 3.81 5.03

Allianz Asia Pacific Equity A (EUR) 11/01/2005 10.00 17.32 17.98 41.62 49.82 131.42

CT (EUR) 04/06/2007 10.00 20/02/2014 10.53 3.54

I (EUR) 11/01/2005 10.00 18.35 20.07 45.42 56.53 149.89

A (USD) 11/03/2005 10.00 9.89 15.34 32.15 29.62 97.58

I (USD) 11/01/2005 10.00 10.89 17.33 35.89 35.19 140.34

Allianz Asian Multi Income Plus AM (H2-AUD) 15/09/2014 10.00 -2.10

AM (HKD) 16/08/2011 10.00 1.65 2.60 13.27 5.77

AM (USD) 17/05/2010 10.00 1.36 2.39 13.68 21.61

AT (USD) 21/10/2011 10.00 1.52 2.62 13.60

IT (USD) 15/07/2009 10.00 2.14 3.79 15.99 36.78 48.00

Allianz Asian Small Cap Equity AT (USD) 13/05/2014 10.00 0.40

IT (USD) 13/05/2014 1,000.00 0.85

WT3 (USD) 13/05/2014 1,000.00 0.75

Allianz Best Styles Euroland Equity A (EUR) 31/05/2010 100.00 11.98 33.65 56.29 35.73

AT (EUR) 04/06/2007 10.00 12.03 33.70 56.10 24.02 -14.30

CT (EUR) 04/06/2007 10.00 11.34 32.21 53.92 20.97 -17.50

I (EUR) 12/07/2005 10.00 12.68 35.37 59.24 28.00 33.40

Allianz Best Styles Europe Equity I (EUR) 11/03/2014 1,000.00 4.07

WT (EUR) 12/08/2014 1,000.00 4.25

Allianz Best Styles Global Equity A (EUR) 27/06/2014 100.00 5.46

P (EUR) 15/05/2014 1,000.00 9.56

W (EUR) 06/08/2013 1,000.00 22.81 21.29

XT (EUR) 12/12/2013 1,000.00 18.72

Allianz Best Styles US Equity AT (EUR) 06/06/2013 100.00 27.78 30.12

AT (H2-EUR) 06/06/2013 100.00 19.50 24.04

W (H2-EUR) 04/12/2013 1,000.00 11.80

WT (EUR) 04/11/2013 1,000.00 21.89

WT (H-EUR) 04/11/2013 1,000.00 14.55

I (USD) 04/12/2013 1,000.00 11.55

WT (USD) 17/07/2012 1,000.00 20.19 40.73 49.87

Allianz Brazil Equity AT (EUR) 06/10/2010 100.00 -0.37 -13.74 -4.59 -27.66

A (GBP) 06/10/2010 100.00 -7.06 -15.76 -14.41 -35.36

AT (USD) 06/10/2010 10.00 -6.66 -15.73 -10.95 -34.10

Allianz BRIC Equity AT (EUR) 15/06/2007 100.00 7.53 -0.71 11.06 5.33 -22.15

CT (EUR) 29/05/2007 100.00 6.71 -2.20 8.57 1.46 -22.76

I (EUR) 29/05/2007 1,000.00 8.61 1.30 14.43 10.70 -12.32

AT (HUF) 17/08/2010 25,000.00 12.02 8.74 18.25 -3.15

AT (USD) 25/02/2008 10.00 0.53 -3.06 3.64 -9.24 -43.00

Allianz China Equity PT (AUD) 30/03/2012 1,000.00 13.56 42.33 37.83

AT (H2-RMB) 11/04/2012 10.00 6.40 20.67 19.70

A (EUR) 13/01/2011 100.00 12.00 18.92 43.40 -5.46

CT (EUR) 02/10/2009 100.00 11.57 17.61 40.56 31.34

PT (EUR) 05/11/2012 1,000.00 13.51 12.40

A (GBP) 09/06/2009 100.00 4.65 16.29 28.78 13.09 29.70

6



30/09/2014) 1) 30/09/2014) 30/09/2014) 30/09/2014) 30/09/2014) 30/09/2014) 1)

% % % % % %Allianz China Equity (continued) P (GBP) 20/12/2012 1,000.00 5.78 8.16

A (HKD) 03/01/2011 10.00 5.36 16.58 33.84 -7.52

WT (HKD) 13/08/2012 1,000.00 6.80 19.85 23.85

AT (SGD) 11/08/2009 10.00 7.17 21.97 33.33 5.50 1.60

A (USD) 03/10/2008 29.44 5.22 16.48 34.27 14.76 64.38

AT (USD) 13/01/2011 10.00 5.21 16.39 34.07 -9.10

IT (USD) 19/01/2009 1,000.00 6.29 18.86 38.40 20.67 108.19

N (USD) 16/12/2010 1,000.00 6.61 19.59 39.67 -0.62

P (USD) 21/01/2013 1,000.00 6.24 3.22

Allianz Convertible Bond A (EUR) 31/01/2012 100.00 2.75 13.59 22.03

AT (EUR) 31/01/2012 100.00 2.75 13.56 22.07

IT (EUR) 31/01/2012 1,000.00 3.38 14.97 24.04

PT (EUR) 23/10/2013 1,000.00 2.19

WT (EUR) 14/03/2014 1,000.00 1.23

Allianz Discovery Asia Strategy I (USD) 11/02/2014 1,000.00 -1.22

P (USD) 29/04/2014 1,000.00 -2.43

Allianz Discovery Europe Strategy PT (H2-CHF) 17/06/2014 100.00 0.90

A (EUR) 20/10/2009 100.00 4.86 10.67 20.82 16.44

CT (EUR) 10/11/2009 100.00 20/02/2014 113.63 3.83

I (EUR) 20/10/2009 1,000.00 5.01 11.49 22.93 19.97

P (EUR) 31/07/2012 1,000.00 4.94 11.41 11.49

WT (EUR) 12/03/2013 1,000.00 4.49 6.69

IT (H2-SEK) 20/05/2014 10,000.00 3.11

Allianz Discovery Germany Strategy A (EUR) 03/06/2014 100.00 0.21

I (EUR) 11/10/2011 1,000.00 2.38 12.44 17.02

P (EUR) 28/01/2014 1,000.00 -0.18

Allianz Dynamic Commodities A (EUR) 03/03/2014 100.00 -9.45

I (EUR) 26/10/2010 1,000.00 -10.89 -25.22 -28.97 -29.64

Allianz Dynamic Emerging Multi Asset I (H2-EUR) 21/06/2011 1,000.00 25/02/2014 769.08 -2.68 Allianz Dynamic Multi Asset Plus A (H2-EUR) 13/12/2010 100.00 5.33 12.08 18.25 8.65

I (H2-JPY) 15/02/2012 200,000.00 5.80 13.88 17.04

Allianz Dynamic Multi Asset Strategy 15 I (EUR) 27/08/2014 1,000.00 -0.21Allianz Dynamic Multi Asset Strategy 50 A (EUR) 19/03/2014 100.00 10.84

AT (EUR) 03/09/2014 100.00 0.35

CT (EUR) 04/06/2014 100.00 5.65

IT (EUR) 03/09/2014 1,000.00 0.40

W (EUR) 11/03/2014 1,000.00 10.89

Allianz Dynamic Multi Asset Strategy 75 I (EUR) 27/08/2014 1,000.00 0.73Allianz Emerging Asia Equity AT (HKD) 01/03/2011 10.00 19.55 26.67 46.61 21.10

A (USD) 03/10/2008 28.18 19.17 26.45 47.10 89.64 109.96

IT (USD) 27/06/2013 1,000.00 20.37 26.97

Allianz Emerging Markets Bond Extra 2018 A (EUR) 08/04/2014 100.00 0.88

AT (EUR) 08/04/2014 100.00 0.89

I (EUR) 08/04/2014 1,000.00 1.08

IT (EUR) 08/04/2014 1,000.00 1.10

P (EUR) 08/04/2014 1,000.00 1.04

A (H2-USD) 08/04/2014 10.00 0.90

Allianz Emerging Markets Equity Opportunities CT (EUR) 04/06/2014 100.00 29/09/2014 105.02 5.02

IT (EUR) 14/01/2014 1,000.00 25/08/2014 1,102.27 10.23

WT (EUR) 14/01/2014 1,000.00 9.38

7



30/09/2014) 1) 30/09/2014) 30/09/2014) 30/09/2014) 30/09/2014) 30/09/2014) 1)

% % % % % %Allianz China Equity (continued) P (GBP) 20/12/2012 1,000.00 5.78 8.16

A (HKD) 03/01/2011 10.00 5.36 16.58 33.84 -7.52

WT (HKD) 13/08/2012 1,000.00 6.80 19.85 23.85

AT (SGD) 11/08/2009 10.00 7.17 21.97 33.33 5.50 1.60

A (USD) 03/10/2008 29.44 5.22 16.48 34.27 14.76 64.38

AT (USD) 13/01/2011 10.00 5.21 16.39 34.07 -9.10

IT (USD) 19/01/2009 1,000.00 6.29 18.86 38.40 20.67 108.19

N (USD) 16/12/2010 1,000.00 6.61 19.59 39.67 -0.62

P (USD) 21/01/2013 1,000.00 6.24 3.22

Allianz Convertible Bond A (EUR) 31/01/2012 100.00 2.75 13.59 22.03

AT (EUR) 31/01/2012 100.00 2.75 13.56 22.07

IT (EUR) 31/01/2012 1,000.00 3.38 14.97 24.04

PT (EUR) 23/10/2013 1,000.00 2.19

WT (EUR) 14/03/2014 1,000.00 1.23

Allianz Discovery Asia Strategy I (USD) 11/02/2014 1,000.00 -1.22

P (USD) 29/04/2014 1,000.00 -2.43

Allianz Discovery Europe Strategy PT (H2-CHF) 17/06/2014 100.00 0.90

A (EUR) 20/10/2009 100.00 4.86 10.67 20.82 16.44

CT (EUR) 10/11/2009 100.00 20/02/2014 113.63 3.83

I (EUR) 20/10/2009 1,000.00 5.01 11.49 22.93 19.97

P (EUR) 31/07/2012 1,000.00 4.94 11.41 11.49

WT (EUR) 12/03/2013 1,000.00 4.49 6.69

IT (H2-SEK) 20/05/2014 10,000.00 3.11

Allianz Discovery Germany Strategy A (EUR) 03/06/2014 100.00 0.21

I (EUR) 11/10/2011 1,000.00 2.38 12.44 17.02

P (EUR) 28/01/2014 1,000.00 -0.18

Allianz Dynamic Commodities A (EUR) 03/03/2014 100.00 -9.45

I (EUR) 26/10/2010 1,000.00 -10.89 -25.22 -28.97 -29.64

Allianz Dynamic Emerging Multi Asset I (H2-EUR) 21/06/2011 1,000.00 25/02/2014 769.08 -2.68 Allianz Dynamic Multi Asset Plus A (H2-EUR) 13/12/2010 100.00 5.33 12.08 18.25 8.65

I (H2-JPY) 15/02/2012 200,000.00 5.80 13.88 17.04

Allianz Dynamic Multi Asset Strategy 15 I (EUR) 27/08/2014 1,000.00 -0.21Allianz Dynamic Multi Asset Strategy 50 A (EUR) 19/03/2014 100.00 10.84

AT (EUR) 03/09/2014 100.00 0.35

CT (EUR) 04/06/2014 100.00 5.65

IT (EUR) 03/09/2014 1,000.00 0.40

W (EUR) 11/03/2014 1,000.00 10.89

Allianz Dynamic Multi Asset Strategy 75 I (EUR) 27/08/2014 1,000.00 0.73Allianz Emerging Asia Equity AT (HKD) 01/03/2011 10.00 19.55 26.67 46.61 21.10

A (USD) 03/10/2008 28.18 19.17 26.45 47.10 89.64 109.96

IT (USD) 27/06/2013 1,000.00 20.37 26.97

Allianz Emerging Markets Bond Extra 2018 A (EUR) 08/04/2014 100.00 0.88

AT (EUR) 08/04/2014 100.00 0.89

I (EUR) 08/04/2014 1,000.00 1.08

IT (EUR) 08/04/2014 1,000.00 1.10

P (EUR) 08/04/2014 1,000.00 1.04

A (H2-USD) 08/04/2014 10.00 0.90

Allianz Emerging Markets Equity Opportunities CT (EUR) 04/06/2014 100.00 29/09/2014 105.02 5.02

IT (EUR) 14/01/2014 1,000.00 25/08/2014 1,102.27 10.23

WT (EUR) 14/01/2014 1,000.00 9.38

8



30/09/2014) 1) 30/09/2014) 30/09/2014) 30/09/2014) 30/09/2014) 30/09/2014) 1)

% % % % % %Allianz Emerging Markets Equity Opportunities (continued) P (GBP) 14/01/2014 1,000.00 30/09/2014 1,020.63 2.06

I (USD) 04/06/2014 1,000.00 29/09/2014 982.68 -1.73

P (USD) 04/06/2014 1,000.00 29/09/2014 982.60 -1.74

Allianz Emerging Markets Short Duration Defensive Bond AM (H2-EUR) 04/06/2014 10.00 -0.93

AT (H2-EUR) 12/08/2014 100.00 -0.49

CT (H2-EUR) 04/06/2014 100.00 -1.04

I (H2-EUR) 01/04/2014 1,000.00 1.54

P2 (H2-EUR) 04/06/2014 1,000.00 -0.76

W2 (H2-EUR) 15/04/2014 1,000.00 1.18

P (H2-GBP) 12/08/2014 1,000.00 -0.37

Allianz Enhanced Short Term Euro S (H2-AUD) 07/10/2011 100.00 2.79 6.20 12.20

AT (EUR) 01/10/2008 100.00 0.24 0.56 2.29 4.24 8.96

CT (EUR) 16/02/2009 100.00 0.20 0.47 2.15 3.99 5.94

I (EUR) 17/04/2007 1,000.00 0.43 0.92 2.61 4.95 16.17

IT (EUR) 16/02/2009 1,000.00 0.43 0.90 2.60 4.88 6.65

S (H2-NOK) 07/10/2011 1,000.00 1.63 3.59 6.86

Allianz Euro Bond A (EUR) 02/01/2004 10.00 10.22 13.54 28.10 38.54 45.24 51.26

AT (EUR) 23/04/2003 10.00 10.12 13.49 27.96 38.56 45.28 55.60

CT (EUR) 31/07/2007 10.00 10.02 13.36 27.70 37.89 38.30

I (EUR) 23/04/2003 10.00 10.91 15.00 30.43 42.97 54.58 66.98

IT (EUR) 18/09/2014 1,000.00 0.51

Allianz Euro Bond Strategy C (EUR) 09/02/2010 100.00 10.31 12.23 19.36 24.03

CT (EUR) 09/02/2010 100.00 10.30 12.23 19.35 24.00

IT (EUR) 09/02/2010 1,000.00 10.95 13.54 21.45 27.42

Allianz Euro High Yield Bond A (EUR) 09/02/2010 100.00 6.36 15.31 41.25 40.70

AM (EUR) 01/03/2013 10.00 6.43 9.18

AT (EUR) 09/02/2010 100.00 6.36 15.31 41.26 40.79

IT (EUR) 09/02/2010 1,000.00 7.00 16.71 43.82 44.75

P (EUR) 09/01/2013 1,000.00 6.95 9.03

WT (EUR) 12/12/2013 1,000.00 4.25

AT (H2-PLN) 18/07/2011 400.00 8.74 21.95 55.17 36.44

AM (H2-USD) 01/03/2013 10.00 6.41 9.49

Allianz Euro High Yield Defensive AT (EUR) 13/12/2012 100.00 6.04 9.58

I (EUR) 09/10/2012 1,000.00 6.67 13.76

Allianz Euro Inflation-linked Bond WT (EUR) 18/03/2014 1,000.00 5.93Allianz Euro Investment Grade Bond Strategy I (EUR) 01/07/2013 1,000.00 9.72 11.66

IT (EUR) 20/03/2012 1,000.00 9.62 16.13 21.06

Allianz Euroland Equity Growth AT (H2-CHF) 04/12/2013 100.00 2.79

A (EUR) 16/10/2006 100.00 5.03 18.88 57.33 80.29 56.09

AT (EUR) 16/10/2006 100.00 5.02 18.88 57.32 80.30 55.98

CT (EUR) 02/11/2006 100.00 4.25 17.11 53.82 73.67 49.53

I (EUR) 04/10/2006 1,000.00 5.96 21.02 61.57 88.43 70.08

IT (EUR) 04/10/2006 1,000.00 5.96 21.02 61.57 88.44 70.09

W (EUR) 02/10/2006 1,000.00 6.28 21.75 63.03 91.28 70.87

WT (EUR) 28/11/2012 1,000.00 6.28 18.34

AT (H2-GBP) 04/12/2013 100.00 2.96

AT (H2-USD) 04/12/2013 10.00 2.90

Allianz Euroland Equity SRI A (EUR) 26/10/2010 100.00 7.03 26.14 47.51 15.93

W (EUR) 26/10/2010 1,000.00 8.31 29.19 52.80 21.38

9



30/09/2014) 1) 30/09/2014) 30/09/2014) 30/09/2014) 30/09/2014) 30/09/2014) 1)

% % % % % %Allianz Emerging Markets Equity Opportunities (continued) P (GBP) 14/01/2014 1,000.00 30/09/2014 1,020.63 2.06

I (USD) 04/06/2014 1,000.00 29/09/2014 982.68 -1.73

P (USD) 04/06/2014 1,000.00 29/09/2014 982.60 -1.74

Allianz Emerging Markets Short Duration Defensive Bond AM (H2-EUR) 04/06/2014 10.00 -0.93

AT (H2-EUR) 12/08/2014 100.00 -0.49

CT (H2-EUR) 04/06/2014 100.00 -1.04

I (H2-EUR) 01/04/2014 1,000.00 1.54

P2 (H2-EUR) 04/06/2014 1,000.00 -0.76

W2 (H2-EUR) 15/04/2014 1,000.00 1.18

P (H2-GBP) 12/08/2014 1,000.00 -0.37

Allianz Enhanced Short Term Euro S (H2-AUD) 07/10/2011 100.00 2.79 6.20 12.20

AT (EUR) 01/10/2008 100.00 0.24 0.56 2.29 4.24 8.96

CT (EUR) 16/02/2009 100.00 0.20 0.47 2.15 3.99 5.94

I (EUR) 17/04/2007 1,000.00 0.43 0.92 2.61 4.95 16.17

IT (EUR) 16/02/2009 1,000.00 0.43 0.90 2.60 4.88 6.65

S (H2-NOK) 07/10/2011 1,000.00 1.63 3.59 6.86

Allianz Euro Bond A (EUR) 02/01/2004 10.00 10.22 13.54 28.10 38.54 45.24 51.26

AT (EUR) 23/04/2003 10.00 10.12 13.49 27.96 38.56 45.28 55.60

CT (EUR) 31/07/2007 10.00 10.02 13.36 27.70 37.89 38.30

I (EUR) 23/04/2003 10.00 10.91 15.00 30.43 42.97 54.58 66.98

IT (EUR) 18/09/2014 1,000.00 0.51

Allianz Euro Bond Strategy C (EUR) 09/02/2010 100.00 10.31 12.23 19.36 24.03

CT (EUR) 09/02/2010 100.00 10.30 12.23 19.35 24.00

IT (EUR) 09/02/2010 1,000.00 10.95 13.54 21.45 27.42

Allianz Euro High Yield Bond A (EUR) 09/02/2010 100.00 6.36 15.31 41.25 40.70

AM (EUR) 01/03/2013 10.00 6.43 9.18

AT (EUR) 09/02/2010 100.00 6.36 15.31 41.26 40.79

IT (EUR) 09/02/2010 1,000.00 7.00 16.71 43.82 44.75

P (EUR) 09/01/2013 1,000.00 6.95 9.03

WT (EUR) 12/12/2013 1,000.00 4.25

AT (H2-PLN) 18/07/2011 400.00 8.74 21.95 55.17 36.44

AM (H2-USD) 01/03/2013 10.00 6.41 9.49

Allianz Euro High Yield Defensive AT (EUR) 13/12/2012 100.00 6.04 9.58

I (EUR) 09/10/2012 1,000.00 6.67 13.76

Allianz Euro Inflation-linked Bond WT (EUR) 18/03/2014 1,000.00 5.93Allianz Euro Investment Grade Bond Strategy I (EUR) 01/07/2013 1,000.00 9.72 11.66

IT (EUR) 20/03/2012 1,000.00 9.62 16.13 21.06

Allianz Euroland Equity Growth AT (H2-CHF) 04/12/2013 100.00 2.79

A (EUR) 16/10/2006 100.00 5.03 18.88 57.33 80.29 56.09

AT (EUR) 16/10/2006 100.00 5.02 18.88 57.32 80.30 55.98

CT (EUR) 02/11/2006 100.00 4.25 17.11 53.82 73.67 49.53

I (EUR) 04/10/2006 1,000.00 5.96 21.02 61.57 88.43 70.08

IT (EUR) 04/10/2006 1,000.00 5.96 21.02 61.57 88.44 70.09

W (EUR) 02/10/2006 1,000.00 6.28 21.75 63.03 91.28 70.87

WT (EUR) 28/11/2012 1,000.00 6.28 18.34

AT (H2-GBP) 04/12/2013 100.00 2.96

AT (H2-USD) 04/12/2013 10.00 2.90

Allianz Euroland Equity SRI A (EUR) 26/10/2010 100.00 7.03 26.14 47.51 15.93

W (EUR) 26/10/2010 1,000.00 8.31 29.19 52.80 21.38

10



30/09/2014) 1) 30/09/2014) 30/09/2014) 30/09/2014) 30/09/2014) 30/09/2014) 1)

% % % % % %Allianz Europe Conviction Equity A (EUR) 07/11/2008 100.00 10.83 26.55 55.73 43.85 62.49

WT (EUR) 12/08/2014 1,000.00 3.34

Allianz Europe Equity Growth PT (AUD) 30/03/2012 1,000.00 10.25 48.79 55.37

AT (H-CHF) 22/10/2012 100.00 7.25 23.77

A (EUR) 16/10/2006 100.00 9.28 25.34 65.20 106.58 89.65

AT (EUR) 16/10/2006 100.00 9.28 25.34 65.20 106.58 89.70

CT (EUR) 02/11/2006 100.00 8.47 23.48 61.54 98.99 78.45

I (EUR) 04/10/2006 1,000.00 10.26 27.61 69.68 115.93 108.78

IT (EUR) 04/10/2006 1,000.00 10.26 27.60 69.67 115.92 108.76

P (EUR) 15/06/2012 1,000.00 10.22 27.50 42.73

PT (EUR) 01/10/2013 1,000.00 10.01

P2 (EUR) 21/08/2012 1,000.00 10.55 28.27 27.10

W (EUR) 02/10/2006 1,000.00 10.59 28.37 71.21 119.18 113.33

WT (EUR) 09/08/2010 1,000.00 10.59 28.37 71.21 74.40

A (GBP) 03/08/2009 99.30 1.87 22.23 48.01 76.02 105.10

P (GBP) 04/01/2012 1,000.00 2.84 24.17 41.48

AT (H2-HUF) 17/08/2010 25,000.00 11.44 31.28 68.31 77.87

AT (H-PLN) 22/03/2012 400.00 10.00 31.38 42.52

AT (H2-SGD) 01/10/2012 10.00 9.23 25.40

AT (H2-USD) 06/12/2012 10.00 9.11 19.80

I (USD) 07/07/2014 1,000.00 -8.97

IT (H2-USD) 02/05/2013 1,000.00 10.20 14.16

Allianz Europe Equity Growth Select A (EUR) 02/05/2013 100.00 11.81 14.96

AT (EUR) 02/05/2013 100.00 11.81 15.00

CT (EUR) 02/05/2013 100.00 10.99 13.80

I (EUR) 02/05/2013 1,000.00 12.82 16.41

IT (EUR) 02/05/2013 1,000.00 12.82 16.44

P (EUR) 02/05/2013 1,000.00 12.77 16.38

W (EUR) 02/05/2013 1,000.00 13.15 16.95

WT (EUR) 02/05/2013 1,000.00 13.09 16.87

W (H2-JPY) 14/11/2013 200,000.00 10.86

Allianz Europe Mid Cap Equity I (EUR) 14/01/2014 1,000.00 0.02Allianz Europe Small Cap Equity A (EUR) 05/06/2012 100.00 5.54 26.70 42.00

AT (EUR) 15/09/2009 100.00 5.54 26.70 56.80 77.14 79.55

I (EUR) 05/06/2012 1,000.00 6.61 29.29 45.36

IT (EUR) 15/09/2009 1,000.00 6.61 29.29 61.61 86.14 88.74

P (EUR) 02/10/2013 1,000.00 4.97

WT (EUR) 05/06/2012 1,000.00 6.99 30.21 46.55

Allianz European Equity Dividend AM (H2-AUD) 02/10/2013 10.00 17.74

AM (H2-RMB) 18/02/2014 10.00 6.33

A (EUR) 10/01/2011 100.00 15.07 32.75 54.83 39.12

AM (EUR) 02/10/2013 10.00 15.19

AT (EUR) 10/03/2009 100.00 15.06 32.74 54.84 63.18 133.68

CT (EUR) 10/03/2009 100.00 14.21 30.79 51.41 57.20 124.25

I (EUR) 09/10/2013 1,000.00 17.25

IT (EUR) 10/03/2009 1,000.00 16.09 35.14 59.01 70.54 145.30

P (EUR) 04/02/2014 1,000.00 10.80

W (EUR) 04/12/2013 1,000.00 10.36

WT (EUR) 14/03/2014 1,000.00 7.55

11



30/09/2014) 1) 30/09/2014) 30/09/2014) 30/09/2014) 30/09/2014) 30/09/2014) 1)

% % % % % %Allianz Europe Conviction Equity A (EUR) 07/11/2008 100.00 10.83 26.55 55.73 43.85 62.49

WT (EUR) 12/08/2014 1,000.00 3.34

Allianz Europe Equity Growth PT (AUD) 30/03/2012 1,000.00 10.25 48.79 55.37

AT (H-CHF) 22/10/2012 100.00 7.25 23.77

A (EUR) 16/10/2006 100.00 9.28 25.34 65.20 106.58 89.65

AT (EUR) 16/10/2006 100.00 9.28 25.34 65.20 106.58 89.70

CT (EUR) 02/11/2006 100.00 8.47 23.48 61.54 98.99 78.45

I (EUR) 04/10/2006 1,000.00 10.26 27.61 69.68 115.93 108.78

IT (EUR) 04/10/2006 1,000.00 10.26 27.60 69.67 115.92 108.76

P (EUR) 15/06/2012 1,000.00 10.22 27.50 42.73

PT (EUR) 01/10/2013 1,000.00 10.01

P2 (EUR) 21/08/2012 1,000.00 10.55 28.27 27.10

W (EUR) 02/10/2006 1,000.00 10.59 28.37 71.21 119.18 113.33

WT (EUR) 09/08/2010 1,000.00 10.59 28.37 71.21 74.40

A (GBP) 03/08/2009 99.30 1.87 22.23 48.01 76.02 105.10

P (GBP) 04/01/2012 1,000.00 2.84 24.17 41.48

AT (H2-HUF) 17/08/2010 25,000.00 11.44 31.28 68.31 77.87

AT (H-PLN) 22/03/2012 400.00 10.00 31.38 42.52

AT (H2-SGD) 01/10/2012 10.00 9.23 25.40

AT (H2-USD) 06/12/2012 10.00 9.11 19.80

I (USD) 07/07/2014 1,000.00 -8.97

IT (H2-USD) 02/05/2013 1,000.00 10.20 14.16

Allianz Europe Equity Growth Select A (EUR) 02/05/2013 100.00 11.81 14.96

AT (EUR) 02/05/2013 100.00 11.81 15.00

CT (EUR) 02/05/2013 100.00 10.99 13.80

I (EUR) 02/05/2013 1,000.00 12.82 16.41

IT (EUR) 02/05/2013 1,000.00 12.82 16.44

P (EUR) 02/05/2013 1,000.00 12.77 16.38

W (EUR) 02/05/2013 1,000.00 13.15 16.95

WT (EUR) 02/05/2013 1,000.00 13.09 16.87

W (H2-JPY) 14/11/2013 200,000.00 10.86

Allianz Europe Mid Cap Equity I (EUR) 14/01/2014 1,000.00 0.02Allianz Europe Small Cap Equity A (EUR) 05/06/2012 100.00 5.54 26.70 42.00

AT (EUR) 15/09/2009 100.00 5.54 26.70 56.80 77.14 79.55

I (EUR) 05/06/2012 1,000.00 6.61 29.29 45.36

IT (EUR) 15/09/2009 1,000.00 6.61 29.29 61.61 86.14 88.74

P (EUR) 02/10/2013 1,000.00 4.97

WT (EUR) 05/06/2012 1,000.00 6.99 30.21 46.55

Allianz European Equity Dividend AM (H2-AUD) 02/10/2013 10.00 17.74

AM (H2-RMB) 18/02/2014 10.00 6.33

A (EUR) 10/01/2011 100.00 15.07 32.75 54.83 39.12

AM (EUR) 02/10/2013 10.00 15.19

AT (EUR) 10/03/2009 100.00 15.06 32.74 54.84 63.18 133.68

CT (EUR) 10/03/2009 100.00 14.21 30.79 51.41 57.20 124.25

I (EUR) 09/10/2013 1,000.00 17.25

IT (EUR) 10/03/2009 1,000.00 16.09 35.14 59.01 70.54 145.30

P (EUR) 04/02/2014 1,000.00 10.80

W (EUR) 04/12/2013 1,000.00 10.36

WT (EUR) 14/03/2014 1,000.00 7.55

12



30/09/2014) 1) 30/09/2014) 30/09/2014) 30/09/2014) 30/09/2014) 30/09/2014) 1)

% % % % % %Allianz European Equity Dividend (continued) AM (H2-HKD) 02/10/2013 10.00 15.18

AT (H-PLN) 22/03/2012 400.00 15.08 39.15 45.68

AM (H2-SGD) 14/04/2014 10.00 4.87

AM (H2-USD) 02/10/2013 10.00 15.29

Allianz Flexi Asia Bond AM (H2-AUD) 03/07/2012 10.00 5.21 6.20 11.21

AM (H2-CAD) 03/07/2012 10.00 3.91 3.06 7.32

AM (H2-RMB) 03/07/2012 10.00 3.94 5.16 9.62

A (H2-EUR) 15/04/2013 100.00 2.70 -2.80

AM (H2-EUR) 01/03/2013 10.00 2.73 -1.94

I (EUR) 03/07/2012 1,000.00 10.48 5.33 5.65

AM (H2-GBP) 01/03/2013 10.00 3.17 -1.25

PQ (H2-GBP) 03/06/2013 1,000.00 3.78 0.56

AM (HKD) 03/07/2012 10.00 2.95 1.39 5.49

PQ (HKD) 03/06/2013 1,000.00 3.65 0.42

AM (H2-NZD) 17/07/2012 10.00 5.65 6.57 10.18

AM (H2-SGD) 01/03/2013 10.00 2.61 -1.89

AM (USD) 03/07/2012 10.00 2.84 1.29 5.38

AT (USD) 03/07/2012 10.00 2.83 1.25 5.40

IT (USD) 03/09/2012 1,000.00 3.56 2.73 4.64

Allianz Flexible Bond Strategy A (EUR) 16/08/2011 100.00 4.10 4.22 8.52 8.50

C (EUR) 16/08/2011 100.00 3.88 3.80 7.85 7.81

CT (EUR) 22/11/2011 100.00 3.88 3.78 8.60

I (EUR) 03/09/2014 1,000.00 0.59

IT (EUR) 29/07/2011 1,000.00 4.59 5.21 10.07 10.98

P (EUR) 04/02/2014 1,000.00 3.03

WT (EUR) 01/10/2012 1,000.00 4.99 5.94

Allianz Floating Rate Notes Plus VarioZins A (EUR) 23/09/2014 100.00 -0.05Allianz German Equity AT (EUR) 22/10/2012 100.00 7.21 28.69

F (EUR) 29/11/2013 1,000.00 -0.03

F2 (EUR) 29/11/2013 1,000.00 -0.03

IT (EUR) 22/10/2012 1,000.00 8.17 30.95

W (EUR) 22/10/2012 1,000.00 8.48 31.68

P (GBP) 20/12/2012 1,000.00 0.85 17.67

Allianz Global Agricultural Trends A (EUR) 01/04/2008 100.00 25.36 18.60 48.39 90.61 52.86

AT (EUR) 24/06/2008 100.00 25.66 19.15 49.01 89.78 22.43

CT (EUR) 07/07/2008 100.00 24.43 16.86 45.11 83.72 31.51

IT (EUR) 07/07/2008 1,000.00 26.60 20.83 52.87 99.84 45.81

A (GBP) 25/08/2008 100.00 16.91 15.85 33.33 62.29 37.64

P (GBP) 14/11/2011 1,000.00 18.14 18.10 24.36

AT (USD) 01/04/2008 10.00 17.49 15.84 38.57 64.64 24.30

Allianz Global EcoTrends A (EUR) 03/05/2006 100.00 7.54 30.60 45.29 18.23 -5.62

AT (EUR) 04/06/2007 100.00 19/12/2013 74.72 4.65

CT (EUR) 04/06/2007 100.00 6.75 28.64 42.05 13.88 -27.37

I (GBP) 15/12/2011 1,000.00 1.34 30.33 35.19

Allianz Global Equity AT (EUR) 13/06/2000 10.00 16.15 31.76 71.54 81.30 79.12 -10.80

CT (EUR) 04/06/2007 10.00 15.38 29.98 68.18 75.08 11.00

IT (EUR) 04/06/2007 10.00 17.55 34.55 76.67 90.17 21.90

IT (H-EUR) 06/05/2009 10.00 12.34 34.05 66.15 61.70 81.10

WT (EUR) 14/03/2014 1,000.00 12.86

13



30/09/2014) 1) 30/09/2014) 30/09/2014) 30/09/2014) 30/09/2014) 30/09/2014) 1)

% % % % % %Allianz European Equity Dividend (continued) AM (H2-HKD) 02/10/2013 10.00 15.18

AT (H-PLN) 22/03/2012 400.00 15.08 39.15 45.68

AM (H2-SGD) 14/04/2014 10.00 4.87

AM (H2-USD) 02/10/2013 10.00 15.29

Allianz Flexi Asia Bond AM (H2-AUD) 03/07/2012 10.00 5.21 6.20 11.21

AM (H2-CAD) 03/07/2012 10.00 3.91 3.06 7.32

AM (H2-RMB) 03/07/2012 10.00 3.94 5.16 9.62

A (H2-EUR) 15/04/2013 100.00 2.70 -2.80

AM (H2-EUR) 01/03/2013 10.00 2.73 -1.94

I (EUR) 03/07/2012 1,000.00 10.48 5.33 5.65

AM (H2-GBP) 01/03/2013 10.00 3.17 -1.25

PQ (H2-GBP) 03/06/2013 1,000.00 3.78 0.56

AM (HKD) 03/07/2012 10.00 2.95 1.39 5.49

PQ (HKD) 03/06/2013 1,000.00 3.65 0.42

AM (H2-NZD) 17/07/2012 10.00 5.65 6.57 10.18

AM (H2-SGD) 01/03/2013 10.00 2.61 -1.89

AM (USD) 03/07/2012 10.00 2.84 1.29 5.38

AT (USD) 03/07/2012 10.00 2.83 1.25 5.40

IT (USD) 03/09/2012 1,000.00 3.56 2.73 4.64

Allianz Flexible Bond Strategy A (EUR) 16/08/2011 100.00 4.10 4.22 8.52 8.50

C (EUR) 16/08/2011 100.00 3.88 3.80 7.85 7.81

CT (EUR) 22/11/2011 100.00 3.88 3.78 8.60

I (EUR) 03/09/2014 1,000.00 0.59

IT (EUR) 29/07/2011 1,000.00 4.59 5.21 10.07 10.98

P (EUR) 04/02/2014 1,000.00 3.03

WT (EUR) 01/10/2012 1,000.00 4.99 5.94

Allianz Floating Rate Notes Plus VarioZins A (EUR) 23/09/2014 100.00 -0.05Allianz German Equity AT (EUR) 22/10/2012 100.00 7.21 28.69

F (EUR) 29/11/2013 1,000.00 -0.03

F2 (EUR) 29/11/2013 1,000.00 -0.03

IT (EUR) 22/10/2012 1,000.00 8.17 30.95

W (EUR) 22/10/2012 1,000.00 8.48 31.68

P (GBP) 20/12/2012 1,000.00 0.85 17.67

Allianz Global Agricultural Trends A (EUR) 01/04/2008 100.00 25.36 18.60 48.39 90.61 52.86

AT (EUR) 24/06/2008 100.00 25.66 19.15 49.01 89.78 22.43

CT (EUR) 07/07/2008 100.00 24.43 16.86 45.11 83.72 31.51

IT (EUR) 07/07/2008 1,000.00 26.60 20.83 52.87 99.84 45.81

A (GBP) 25/08/2008 100.00 16.91 15.85 33.33 62.29 37.64

P (GBP) 14/11/2011 1,000.00 18.14 18.10 24.36

AT (USD) 01/04/2008 10.00 17.49 15.84 38.57 64.64 24.30

Allianz Global EcoTrends A (EUR) 03/05/2006 100.00 7.54 30.60 45.29 18.23 -5.62

AT (EUR) 04/06/2007 100.00 19/12/2013 74.72 4.65

CT (EUR) 04/06/2007 100.00 6.75 28.64 42.05 13.88 -27.37

I (GBP) 15/12/2011 1,000.00 1.34 30.33 35.19

Allianz Global Equity AT (EUR) 13/06/2000 10.00 16.15 31.76 71.54 81.30 79.12 -10.80

CT (EUR) 04/06/2007 10.00 15.38 29.98 68.18 75.08 11.00

IT (EUR) 04/06/2007 10.00 17.55 34.55 76.67 90.17 21.90

IT (H-EUR) 06/05/2009 10.00 12.34 34.05 66.15 61.70 81.10

WT (EUR) 14/03/2014 1,000.00 12.86

14



30/09/2014) 1) 30/09/2014) 30/09/2014) 30/09/2014) 30/09/2014) 30/09/2014) 1)

% % % % % %Allianz Global Equity (continued) AT (USD) 13/06/2000 10.00 8.86 28.86 60.65 57.26 86.25 19.20

Allianz Global Equity Selection I (USD) 17/06/2014 1,000.00 -6.37Allianz Global Equity Unconstrained A (EUR) 19/12/2008 100.00 14.04 28.66 58.22 65.37 114.35

AT (USD) 19/12/2008 10.00 6.87 25.75 47.93 43.31 92.90

Allianz Global Fundamental Strategy CT2 (H2-EUR) 04/12/2013 100.00 3.67

D (H2-EUR) 14/03/2014 100.00 2.89

IT2 (H2-EUR) 28/02/2013 1,000.00 5.95 7.02

I4 (H2-EUR) 21/05/2014 1,000.00 -0.45

D (USD) 28/02/2013 10.00 5.25 6.30

Allianz Global Hi-Tech Growth F (EUR) 15/11/2013 1,000.00 14.68

A (USD) 03/10/2008 9.74 8.21 36.48 67.87 62.10 81.74

Allianz Global Metals and Mining A (EUR) 22/02/2011 100.00 -3.20 -27.92 -26.42 -49.15

AT (EUR) 12/04/2011 100.00 -3.21 -27.96 -26.46 -48.52

F (EUR) 16/11/2012 1,000.00 -1.85 -21.13

I (EUR) 22/02/2011 1,000.00 -2.34 -26.64 -24.45 -47.51

IT (EUR) 12/04/2011 1,000.00 -2.34 -26.64 -24.45 -46.90

Allianz Global Small Cap Equity AT (H-EUR) 13/09/2013 100.00 7.27 8.53

CT (H-EUR) 13/09/2013 100.00 6.25 7.44

IT (H-EUR) 13/09/2013 1,000.00 8.19 9.49

PT (H-EUR) 13/09/2013 1,000.00 8.83 10.12

PT (GBP) 22/08/2013 1,000.00 5.38 5.57

PT2 (GBP) 03/03/2014 1,000.00 -0.79

AT (USD) 13/09/2013 10.00 4.72 6.40

IT (USD) 18/06/2013 1,000.00 5.82 15.16

WT (USD) 15/05/2014 1,000.00 0.96

Allianz Global Sustainability A (EUR) 02/01/2003 10.00 17.52 32.66 67.68 78.57 85.12 98.64

CT (EUR) 31/07/2007 10.00 16.68 30.65 64.04 72.02 16.80

A (USD) 02/01/2003 10.00 10.23 29.79 56.73 54.79 89.78 145.06

Allianz Greater China Dynamic I (EUR) 15/04/2013 1,000.00 30.59 32.26

AT (HKD) 11/04/2014 10.00 2.80

AT (USD) 02/10/2009 10.00 20.72 38.64 58.59 53.20

I (USD) 08/04/2014 1,000.00 4.59

Allianz Growing Markets Protect AT (EUR) 22/05/2007 100.00 25/04/2014 90.73 -1.22 Allianz HKD Income I (EUR) 06/09/2012 1,000.00 05/08/2014 946.90 2.99

AM (HKD) 01/03/2013 10.00 1.74 1.04

AT (HKD) 15/09/2014 10.00 0.10

IT (HKD) 12/11/2013 1,000.00 05/05/2014 1,008.17 0.82

AM (USD) 01/03/2013 10.00 1.84 1.14

Allianz Hong Kong Equity AT (H2-RMB) 11/04/2012 10.00 8.18 20.59 23.00

A (HKD) 04/10/2010 10.00 6.94 16.64 36.98 2.74

AT (HKD) 17/06/2011 10.00 7.02 16.67 37.04 3.60

AT (SGD) 11/08/2009 10.00 8.71 21.83 36.27 16.33 16.10

A (USD) 03/10/2008 136.43 6.84 16.46 37.51 27.09 78.57

IT (USD) 03/10/2008 144.82 7.89 18.78 41.68 33.57 89.31

Allianz Income and Growth AM (H2-AUD) 15/10/2012 10.00 11.49 29.12

AM (H2-CAD) 02/05/2013 10.00 9.68 14.20

AM (H2-RMB) 14/06/2013 10.00 10.06 14.20

A (H2-EUR) 17/07/2012 100.00 8.71 21.43 27.86

AM (H2-EUR) 02/05/2013 10.00 8.83 12.78

AT (H2-EUR) 12/08/2014 100.00 -0.31

15



30/09/2014) 1) 30/09/2014) 30/09/2014) 30/09/2014) 30/09/2014) 30/09/2014) 1)

% % % % % %Allianz Global Equity (continued) AT (USD) 13/06/2000 10.00 8.86 28.86 60.65 57.26 86.25 19.20

Allianz Global Equity Selection I (USD) 17/06/2014 1,000.00 -6.37Allianz Global Equity Unconstrained A (EUR) 19/12/2008 100.00 14.04 28.66 58.22 65.37 114.35

AT (USD) 19/12/2008 10.00 6.87 25.75 47.93 43.31 92.90

Allianz Global Fundamental Strategy CT2 (H2-EUR) 04/12/2013 100.00 3.67

D (H2-EUR) 14/03/2014 100.00 2.89

IT2 (H2-EUR) 28/02/2013 1,000.00 5.95 7.02

I4 (H2-EUR) 21/05/2014 1,000.00 -0.45

D (USD) 28/02/2013 10.00 5.25 6.30

Allianz Global Hi-Tech Growth F (EUR) 15/11/2013 1,000.00 14.68

A (USD) 03/10/2008 9.74 8.21 36.48 67.87 62.10 81.74

Allianz Global Metals and Mining A (EUR) 22/02/2011 100.00 -3.20 -27.92 -26.42 -49.15

AT (EUR) 12/04/2011 100.00 -3.21 -27.96 -26.46 -48.52

F (EUR) 16/11/2012 1,000.00 -1.85 -21.13

I (EUR) 22/02/2011 1,000.00 -2.34 -26.64 -24.45 -47.51

IT (EUR) 12/04/2011 1,000.00 -2.34 -26.64 -24.45 -46.90

Allianz Global Small Cap Equity AT (H-EUR) 13/09/2013 100.00 7.27 8.53

CT (H-EUR) 13/09/2013 100.00 6.25 7.44

IT (H-EUR) 13/09/2013 1,000.00 8.19 9.49

PT (H-EUR) 13/09/2013 1,000.00 8.83 10.12

PT (GBP) 22/08/2013 1,000.00 5.38 5.57

PT2 (GBP) 03/03/2014 1,000.00 -0.79

AT (USD) 13/09/2013 10.00 4.72 6.40

IT (USD) 18/06/2013 1,000.00 5.82 15.16

WT (USD) 15/05/2014 1,000.00 0.96

Allianz Global Sustainability A (EUR) 02/01/2003 10.00 17.52 32.66 67.68 78.57 85.12 98.64

CT (EUR) 31/07/2007 10.00 16.68 30.65 64.04 72.02 16.80

A (USD) 02/01/2003 10.00 10.23 29.79 56.73 54.79 89.78 145.06

Allianz Greater China Dynamic I (EUR) 15/04/2013 1,000.00 30.59 32.26

AT (HKD) 11/04/2014 10.00 2.80

AT (USD) 02/10/2009 10.00 20.72 38.64 58.59 53.20

I (USD) 08/04/2014 1,000.00 4.59

Allianz Growing Markets Protect AT (EUR) 22/05/2007 100.00 25/04/2014 90.73 -1.22 Allianz HKD Income I (EUR) 06/09/2012 1,000.00 05/08/2014 946.90 2.99

AM (HKD) 01/03/2013 10.00 1.74 1.04

AT (HKD) 15/09/2014 10.00 0.10

IT (HKD) 12/11/2013 1,000.00 05/05/2014 1,008.17 0.82

AM (USD) 01/03/2013 10.00 1.84 1.14

Allianz Hong Kong Equity AT (H2-RMB) 11/04/2012 10.00 8.18 20.59 23.00

A (HKD) 04/10/2010 10.00 6.94 16.64 36.98 2.74

AT (HKD) 17/06/2011 10.00 7.02 16.67 37.04 3.60

AT (SGD) 11/08/2009 10.00 8.71 21.83 36.27 16.33 16.10

A (USD) 03/10/2008 136.43 6.84 16.46 37.51 27.09 78.57

IT (USD) 03/10/2008 144.82 7.89 18.78 41.68 33.57 89.31

Allianz Income and Growth AM (H2-AUD) 15/10/2012 10.00 11.49 29.12

AM (H2-CAD) 02/05/2013 10.00 9.68 14.20

AM (H2-RMB) 14/06/2013 10.00 10.06 14.20

A (H2-EUR) 17/07/2012 100.00 8.71 21.43 27.86

AM (H2-EUR) 02/05/2013 10.00 8.83 12.78

AT (H2-EUR) 12/08/2014 100.00 -0.31

16



30/09/2014) 1) 30/09/2014) 30/09/2014) 30/09/2014) 30/09/2014) 30/09/2014) 1)

% % % % % %Allianz Income and Growth (continued) CT (H2-EUR) 22/02/2012 100.00 7.86 19.52 21.68

I (EUR) 03/09/2014 1,000.00 1.44

I (H2-EUR) 31/08/2011 1,000.00 9.61 23.15 44.47 38.90

IT (H2-EUR) 07/11/2011 1,000.00 9.52 23.20 34.58

P (EUR) 04/02/2014 1,000.00 13.13

P (H2-EUR) 10/04/2014 1,000.00 1.85

AM (H2-GBP) 02/05/2013 10.00 8.95 13.12

PM (H2-GBP) 03/06/2013 1,000.00 9.63 12.02

AM (HKD) 01/03/2013 10.00 8.94 16.21

AM (H2-NZD) 02/12/2013 10.00 6.97

IT (H2-SEK) 11/10/2012 10,000.00 10.25 25.91

AM (H2-SGD) 01/07/2013 10.00 8.77 13.33

A (USD) 01/10/2013 10.00 8.80

AM (USD) 16/10/2012 10.00 8.83 22.52

AT (USD) 18/11/2011 10.00 8.87 22.04 36.20

IT (USD) 27/08/2013 1,000.00 9.61 12.09

P (USD) 01/04/2014 1,000.00 1.43

PM (USD) 05/05/2014 1,000.00 1.58

Allianz India Equity I (USD) 30/12/2009 1,000.00 47.53 21.00 31.61 17.35Allianz Indonesia Equity A (EUR) 24/10/2008 100.00 22.95 -2.44 12.65 67.78 262.98

A (USD) 03/10/2008 3.15 15.19 -4.83 5.10 44.49 101.82

Allianz Japan Equity F (EUR) 25/10/2013 1,000.00 9.15

IT (H-EUR) 18/09/2014 1,000.00 0.53

IT (H2-EUR) 13/08/2014 1,000.00 25/08/2014 1,007.51 0.75

WT (EUR) 12/08/2014 1,000.00 6.11

A (USD) 03/10/2008 12.46 -1.35 28.63 31.40 33.62 34.91

IT (USD) 03/10/2008 12.95 -0.48 30.93 34.94 39.73 42.86

Allianz Korea Equity A (USD) 03/10/2008 7.73 5.94 2.06 10.57 16.12 40.75Allianz Laufzeitfonds Extra 2019 A (EUR) 23/09/2014 100.00 -0.24Allianz Little Dragons A2 (EUR) 12/12/2008 100.00 23.53 24.85 49.31 58.49 142.20

CT2 (EUR) 12/12/2008 100.00 22.40 22.77 45.76 52.17 131.17

A (USD) 03/10/2008 63.69 14.35 19.34 35.11 29.98 71.00

AT (USD) 03/10/2008 63.73 14.34 19.33 35.10 29.99 71.03

Allianz Merger Arbitrage Strategy I (EUR) 30/10/2012 1,000.00 1.21 2.35

W2 (EUR) 30/10/2012 1,000.00 -0.43 -1.10

IT (H2-GBP) 16/05/2014 1,000.00 0.48

Allianz Oriental Income AT (EUR) 07/12/2009 100.00 7.22 24.21 43.32 47.32

AT (SGD) 11/08/2009 10.00 1.81 26.23 31.56 14.07 18.40

A (USD) 03/10/2008 64.21 0.40 21.38 33.97 26.96 56.62

A (H-USD) 18/02/2014 10.00 1.90

AT (USD) 03/10/2008 66.47 0.41 21.39 33.96 26.95 56.61

I (USD) 03/10/2008 65.15 1.31 23.58 37.60 32.71 64.99

IT (USD) 03/10/2008 68.11 1.30 23.58 37.59 32.69 64.60

P (USD) 03/10/2008 64.81 1.27 23.48 37.43 32.43 64.58

Allianz Real Estate Securities Europe AT (EUR) 26/03/2008 100.00 07/10/2013 95.87 -0.10 Allianz Renminbi Currency AT (H2-CHF) 30/03/2012 100.00 0.94 5.25 5.87

PT (H2-CHF) 02/05/2013 1,000.00 1.09 2.67

A (H2-EUR) 18/10/2011 100.00 1.20 5.75 8.44

AT (H2-EUR) 17/02/2012 100.00 1.23 5.80 6.48

17



30/09/2014) 1) 30/09/2014) 30/09/2014) 30/09/2014) 30/09/2014) 30/09/2014) 1)

% % % % % %Allianz Income and Growth (continued) CT (H2-EUR) 22/02/2012 100.00 7.86 19.52 21.68

I (EUR) 03/09/2014 1,000.00 1.44

I (H2-EUR) 31/08/2011 1,000.00 9.61 23.15 44.47 38.90

IT (H2-EUR) 07/11/2011 1,000.00 9.52 23.20 34.58

P (EUR) 04/02/2014 1,000.00 13.13

P (H2-EUR) 10/04/2014 1,000.00 1.85

AM (H2-GBP) 02/05/2013 10.00 8.95 13.12

PM (H2-GBP) 03/06/2013 1,000.00 9.63 12.02

AM (HKD) 01/03/2013 10.00 8.94 16.21

AM (H2-NZD) 02/12/2013 10.00 6.97

IT (H2-SEK) 11/10/2012 10,000.00 10.25 25.91

AM (H2-SGD) 01/07/2013 10.00 8.77 13.33

A (USD) 01/10/2013 10.00 8.80

AM (USD) 16/10/2012 10.00 8.83 22.52

AT (USD) 18/11/2011 10.00 8.87 22.04 36.20

IT (USD) 27/08/2013 1,000.00 9.61 12.09

P (USD) 01/04/2014 1,000.00 1.43

PM (USD) 05/05/2014 1,000.00 1.58

Allianz India Equity I (USD) 30/12/2009 1,000.00 47.53 21.00 31.61 17.35Allianz Indonesia Equity A (EUR) 24/10/2008 100.00 22.95 -2.44 12.65 67.78 262.98

A (USD) 03/10/2008 3.15 15.19 -4.83 5.10 44.49 101.82

Allianz Japan Equity F (EUR) 25/10/2013 1,000.00 9.15

IT (H-EUR) 18/09/2014 1,000.00 0.53

IT (H2-EUR) 13/08/2014 1,000.00 25/08/2014 1,007.51 0.75

WT (EUR) 12/08/2014 1,000.00 6.11

A (USD) 03/10/2008 12.46 -1.35 28.63 31.40 33.62 34.91

IT (USD) 03/10/2008 12.95 -0.48 30.93 34.94 39.73 42.86

Allianz Korea Equity A (USD) 03/10/2008 7.73 5.94 2.06 10.57 16.12 40.75Allianz Laufzeitfonds Extra 2019 A (EUR) 23/09/2014 100.00 -0.24Allianz Little Dragons A2 (EUR) 12/12/2008 100.00 23.53 24.85 49.31 58.49 142.20

CT2 (EUR) 12/12/2008 100.00 22.40 22.77 45.76 52.17 131.17

A (USD) 03/10/2008 63.69 14.35 19.34 35.11 29.98 71.00

AT (USD) 03/10/2008 63.73 14.34 19.33 35.10 29.99 71.03

Allianz Merger Arbitrage Strategy I (EUR) 30/10/2012 1,000.00 1.21 2.35

W2 (EUR) 30/10/2012 1,000.00 -0.43 -1.10

IT (H2-GBP) 16/05/2014 1,000.00 0.48

Allianz Oriental Income AT (EUR) 07/12/2009 100.00 7.22 24.21 43.32 47.32

AT (SGD) 11/08/2009 10.00 1.81 26.23 31.56 14.07 18.40

A (USD) 03/10/2008 64.21 0.40 21.38 33.97 26.96 56.62

A (H-USD) 18/02/2014 10.00 1.90

AT (USD) 03/10/2008 66.47 0.41 21.39 33.96 26.95 56.61

I (USD) 03/10/2008 65.15 1.31 23.58 37.60 32.71 64.99

IT (USD) 03/10/2008 68.11 1.30 23.58 37.59 32.69 64.60

P (USD) 03/10/2008 64.81 1.27 23.48 37.43 32.43 64.58

Allianz Real Estate Securities Europe AT (EUR) 26/03/2008 100.00 07/10/2013 95.87 -0.10 Allianz Renminbi Currency AT (H2-CHF) 30/03/2012 100.00 0.94 5.25 5.87

PT (H2-CHF) 02/05/2013 1,000.00 1.09 2.67

A (H2-EUR) 18/10/2011 100.00 1.20 5.75 8.44

AT (H2-EUR) 17/02/2012 100.00 1.23 5.80 6.48

18



30/09/2014) 1) 30/09/2014) 30/09/2014) 30/09/2014) 30/09/2014) 30/09/2014) 1)

% % % % % %Allianz Renminbi Currency (continued) CT (H2-EUR) 12/03/2012 100.00 1.01 5.36 6.24

I (H2-EUR) 18/10/2011 1,000.00 1.41 6.13 8.96

IT (H2-EUR) 01/04/2014 1,000.00 1.76

A (H2-GBP) 04/11/2011 100.00 1.54 6.56 9.24

P (H2-GBP) 04/01/2013 1,000.00 1.62 4.87

A (USD) 18/10/2011 10.00 1.30 6.21 9.19

Allianz Renminbi Fixed Income A (H2-CHF) 25/10/2012 100.00 1.94 5.45

A (H2-EUR) 21/06/2011 100.00 2.20 7.33 11.28 10.65

AT (H2-EUR) 22/08/2012 100.00 2.23 7.40 8.25

CT (H2-EUR) 25/10/2012 100.00 1.99 5.49

I (H2-EUR) 10/06/2011 1,000.00 2.73 8.35 13.23 13.11

IT (H2-EUR) 22/08/2012 1,000.00 2.72 8.34 9.25

P (H2-EUR) 01/03/2013 1,000.00 2.68 4.96

P2 (H2-EUR) 02/05/2013 1,000.00 2.87 3.68

P (H2-GBP) 08/07/2011 1,000.00 3.03 9.20 14.20 13.07

A (USD) 21/06/2011 10.00 2.25 7.75 12.10 11.09

P (USD) 21/06/2011 1,000.00 2.72 8.74 13.67 12.92

Allianz Structured Alpha Strategy I (EUR) 10/08/2010 1,000.00 4.60 9.78 27.85 18.70

WT (EUR) 15/04/2014 1,000.00 2.45

WT2 (EUR) 10/08/2010 1,000.00 3.96 8.76 24.78 14.90

WT3 (EUR) 07/01/2014 1,000.00 2.42

W4 (EUR) 30/09/2014 1,000.00 0.00

P (USD) 07/01/2014 1,000.00 -4.20

Allianz Target Return Bond W (EUR) 02/05/2012 1,000.00 4.67 11.34 16.43Allianz Target Return Bond US W (H2-EUR) 02/05/2013 1,000.00 2.23 2.06Allianz Thailand Equity A (EUR) 24/10/2008 100.00 21.17 33.41 106.80 240.13 481.11

IT (JPY) 21/03/2013 200,000.00 28.73 16.19

A (USD) 03/10/2008 12.27 13.47 30.60 93.75 193.91 296.68

IT (USD) 03/10/2008 13.05 14.62 33.30 99.71 208.38 319.92

Allianz Tiger A (EUR) 28/11/2008 100.00 21.09 28.32 55.40 72.60 152.94

A (USD) 03/10/2008 47.27 13.46 25.41 45.16 49.35 91.14

Allianz Total Return Asian Equity AM (H2-AUD) 04/02/2014 10.00 13.15

AM (HKD) 04/02/2014 10.00 11.68

AT (HKD) 17/07/2012 10.00 15.18 22.25 31.30

AM (H2-SGD) 15/09/2014 10.00 -2.60

A (USD) 03/10/2008 13.87 15.10 22.14 42.74 46.86 90.38

AM (USD) 04/02/2014 10.00 11.68

AT (USD) 03/10/2008 15.61 15.11 22.16 42.77 46.93 90.33

PT (USD) 03/10/2008 16.05 16.20 24.35 46.79 53.93 101.12

Allianz Treasury Short Term Plus Euro A (EUR) 26/05/2011 100.00 1.20 1.82 3.55 1.95

I (EUR) 12/11/2003 1,000.00 1.99 3.43 6.00 9.60 25.59 27.98

Allianz US Equity Dividend AT (SGD) 11/08/2009 10.00 17.80 38.79 64.61 58.98 62.80

W (USD) 01/04/2009 1,000.00 17.34 36.48 73.08 86.42 158.21

Allianz US Equity Fund A (EUR) 25/03/2010 100.00 24.51 32.38 69.60 57.93

CT (EUR) 31/07/2007 100.00 23.66 30.58 65.98 83.67 35.22

N (EUR) 12/12/2008 1,000.00 26.16 35.65 76.01 102.55 152.64

P (EUR) 15/06/2012 1,000.00 25.64 34.73 43.12

W (H-EUR) 12/12/2006 1,000.00 18.34 32.13 61.80 70.46 49.83

A (GBP) 05/03/2010 100.00 19/12/2013 129.08 5.02

19



30/09/2014) 1) 30/09/2014) 30/09/2014) 30/09/2014) 30/09/2014) 30/09/2014) 1)

% % % % % %Allianz Renminbi Currency (continued) CT (H2-EUR) 12/03/2012 100.00 1.01 5.36 6.24

I (H2-EUR) 18/10/2011 1,000.00 1.41 6.13 8.96

IT (H2-EUR) 01/04/2014 1,000.

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