Shifting Political Landscape Provides Fertile Ground for Investment

• 78% of investors believe we are likely to see more policies to promote business investment in the environment in the first year of the Obama Administration than we did during the entire Bush Administration

• 74% believe the new Congress will be more supportive of policies to promote business investment in new environmental technologies than the old Congress

• 78% of investors believe environmental technology has the potential to be the "next great American industry"

• Nearly all investors (97%) say exploring alternative fuel sources for the future will remain important even with declining gas prices

NEW YORK, NEW YORK. - January 26, 2009 - Americans see a golden age for green investing, according to the results of the second-annual survey on environmental investing released here today by Allianz Global Investors, a leading global investment firm.

Of the investors surveyed, 78% say we are likely to see more policies to promote business investment in new environmental technologies in the first year of the Obama Administration than we did under eight years of the Bush Administration. Further, nearly three-quarters (74%) believe the new Congress will be more supportive of policies to promote business investment in new environmental technologies than the old Congress.

"Barack Obama won this election on a platform of change, and the regulatory changes are likely to be very positive for environmental investing," said Bozena Jankowska, lead portfolio manager of the Allianz RCM Global EcoTrends Fund and head of the RCM Sustainability Research Team. "The type of stimulus President Obama is proposing represents a significant opportunity for investors. More broadly, the tone, intensity and content of the debate in Washington is changing and that’s what is really important."

Conducted for the second year in a row, the poll of 1,264 adults examined investors’ understanding of and attitudes toward the environment from an investor's point of view. The poll was conducted via the Internet between December 12 and December 19, 2008 by GfK Roper Public Affairs & Media, a division of GfK Custom Research North America. Participants had to be age 25 or older and have primary or shared responsibility for investment decisions in households with financial assets of at least $100,000. The sample was weighted to match the characteristics of the total online population in terms of gender, age, household asset level and region, according to the U.S. Census. The same methodology was used for the survey conducted December 14-20, 2007, which yielded 1,003 completed interviews.

In fact, 72% of survey respondents say the recent decline in stock prices has had no impact on their inclination to invest in environmental stocks and about half (48%) of investors say they are at least somewhat likely to invest in these types of companies within the next year.

"The need for pollution control, clean water and energy efficiency is not going away. Investors perceive there is real opportunity here and they want to capitalize on it," said Brian Gaffney, Managing Director and Chief Executive Officer of Allianz Global Investors Distributors.

According to the survey, investors continue to view the environmental technology sector as a "buy," with 64% classifying the environment as the most desirable investment opportunity of the 10 categories surveyed.1. Further, there was a 30% increase from 2007 to 2008 in the number of investors who say they have already made investments in companies that are capitalizing on environmental trends (17% in 2007 versus 22% in 2008).

"Investors' bright outlook on the environmental technology sector is telling. This is perceived as a long-term opportunity," said Gaffney. "Investors understand that robust demand for innovation and solutions will fuel growth, and consequently profits, for years to come."

Beyond the environment, investors are generally optimistic. Fifty-two percent say the Dow Jones Industrial Average will be higher a year from now than it is today.

"Government investment in the environment, and in alternative energy in particular, will be an important engine for economic renewal in the Obama administration," Jankowska said. "During his inaugural address, President Obama said 'We will harness the sun and the winds and the soil to fuel our cars and run our factories.' This is a positive for the U.S. economy and job creation, and for the advancement of the environmental technology sector globally.

"At the same time, accelerating industrialization in emerging markets will continue to spur the need for environmental technologies. That has not changed despite the broader economic slowdown," Jankowska said. "We believe it's possible that we are in the early stages of a long-term secular up-cycle for environment-related companies."

Even with current oil and gas prices relatively low, there is evidence that investors are now taking a longer view when it comes to the environment. Nearly all investors (97%) say that exploring alternative fuel sources for the future will remain important even if gas prices come down.

American investors see room for progress, and perhaps catch-up, at home. Fifty-eight percent say Europe is ahead of the United States when it comes to addressing environmental problems.

Among those already investing with an investment professional, 78% say that even though the market has been performing poorly, they are still looking to their financial advisor to bring them interesting investment opportunities. However, 85% of those said their advisor had yet to recommend an environment-related investing opportunity. The securities of any single industry such as environmental securities tend to be more volatile than the stock market as a whole, and smaller companies may have limited operating histories and be at a more vulnerable stage of growth.

"This is a rapid growing and rapid-changing sector of the market, so investors are looking for help to smartly and profitably participate," Gaffney said. "Innovation in environmental technology is occurring at an increasing pace and on a global scale, so evaluating the opportunities may be difficult for individual investors. Financial advisors can help investors navigate the space and in turn, professionally managed products offer advisors access to experience, technical expertise and diversification in this complex sector."

About Allianz Global Investors: Allianz Global Investors, the asset management division of Allianz SE [NYSE: AZ], is a leading investment management company, with more than $1 trillion under management as of September 30, 2008. Allianz Global Investors offers access to a premier group of institutional investment firms, including PIMCO, NFJ Investment Group, RCM, Nicholas-Applegate and Oppenheimer Capital. The company offers investment solutions across a broad spectrum of asset classes and investment styles in a wide array of products, including mutual funds, managed accounts and closed-end funds. For more information on the survey, please go to www.allianzinvestors.com/eco.

Allianz SE has been a pioneer in corporate sustainable development. The Allianz Environment Foundation dates back to 1990 and the firm recently partnered with the World Wildlife Fund (WWF) on climate-change strategy and research. In addition, Allianz is chairing a climate change working group for the United Nations "“ the UN Environmental Programme Financial Initiative. Allianz offers a range of "green" products and services, including emission trading credits, for its customers in the insurance and banking sectors. It earned a top rating in the insurance sector of the Dow Jones Sustainability Index for 2006 and 2007.

Investors should consider the investment objectives, risks, charges and expenses of the Allianz RCM Global Eco Trends Fund carefully before investing. This and other information is contained in the Fund's prospectus, which may be obtained by contacting your financial advisor, or by calling 888-877-4626. Please read this prospectus carefully before you invest or send money.

An investment which focuses its holdings on environmental-related industries will be more affected by positive or negative events affecting these sectors than a more diversified investment. Companies in these sectors may be particularly susceptible to factors such as environmental protection, political developments, changes in government subsidy levels conservation practices and tax policies, for example. These sectors are newly developing and strongly influenced by rapid technological change, which can render an existing product obsolete. Water-related investments can be affected by risks related to the volatile and speculative nature of commodities, uncertainties regarding exploration, environmental damage, depletion of resources, and risks related to rapid technological change.

The Allianz Funds are distributed by Allianz Global Investors Distributors, LLC, 1345 Avenue of the Americas, New York, NY 10105-4800. www.allianzinvestors.com.

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