0001104659-12-068699.txt : 20121011 0001104659-12-068699.hdr.sgml : 20121011 20121011160829 ACCESSION NUMBER: 0001104659-12-068699 CONFORMED SUBMISSION TYPE: 485BPOS PUBLIC DOCUMENT COUNT: 8 FILED AS OF DATE: 20121011 DATE AS OF CHANGE: 20121011 EFFECTIVENESS DATE: 20121011 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: 485BPOS SEC ACT: 1940 Act SEC FILE NUMBER: 811-22167 FILM NUMBER: 121140139 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 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: 485BPOS SEC ACT: 1933 Act SEC FILE NUMBER: 333-148624 FILM NUMBER: 121140140 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 0001423227 S000038495 Allianz AGIC Structured Alpha Fund C000118770 Institutional C000118771 P C000118772 D C000118773 A C000118774 C 0001423227 S000038496 Allianz AGIC U.S. Equity-Hedged Fund C000118775 C C000118776 Institutional C000118777 P C000118778 D C000118779 A 0001423227 S000038497 Allianz NFJ Emerging Markets Value Fund C000118780 Institutional C000118781 P C000118782 D C000118783 A C000118784 C 485BPOS 1 a12-22892_1485bpos.htm 485BPOS

 

As Filed with the Securities and Exchange Commission on October 11, 2012

 

1933 Act File No. 333-148624
1940 Act File No. 811-22167

 

 

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 


 

FORM N-1A

 

REGISTRATION STATEMENT Under THE SECURITIES ACT OF 1933

 

x

Pre-Effective Amendment No.   

 

o

Post-Effective Amendment No. 45

 

x

REGISTRATION STATEMENT Under THE INVESTMENT COMPANY ACT OF 1940

 

x

Amendment No. 47

 

x

 


 

Allianz Funds Multi-Strategy Trust

(Exact Name of Registrant as Specified in Charter)

 


 

1633 Broadway, New York, NY 10019
(Address of principal executive offices) (Zip code)

 

(888) 852-3922
(Registrant’s telephone number, including area code)

 

Brian S. Shlissel
c/o Allianz Global Investors Fund Management LLC
1633 Broadway
New York, NY 10019
Name and address of agent for service:

 


 

Copies to:

 

Thomas J. Fuccillo, Esq.
c/o Allianz Global Investors Fund Management LLC
1633 Broadway
New York, NY 10019

 

David C. Sullivan, Esq.
Ropes & Gray LLP
Prudential Tower
800 Boylston Street
Boston, MA 02199

 

Approximate date of Proposed Public offering : As soon as practicable after the effective date of this Registration statement.

 

It is proposed that this filing will become effective (check appropriate box):

 

x          Immediately upon filing pursuant to paragraph (b)

 

o            On [date] pursuant to paragraph (b)

 

o            60 days after filing pursuant to paragraph (a)(1)

 

o            On [date] pursuant to paragraph (a)(1)

 

o            75 days after filing pursuant to paragraph (a)(2)

 

o            On [date] pursuant to paragraph (a)(2) of Rule 485

 

If appropriate, check the following box:

 

o            This post-effective amendment designates a new effective date for a previously filed post-effective amendment.

 

Explanatory Note: This Post-Effective Amendment (“PEA”) No. 45 to the Trust’s Registration Statement on Form N-1A hereby incorporates Parts A, B and C from the Trust’s PEA No. 44 on Form N-1A filed October 3, 2012.  This PEA No. 45 is filed for the sole purpose of submitting the XBRL exhibit for the risk/return summary first provided in PEA No. 44 to the Trust’s Registration Statement.

 

 

 



 

SIGNATURES

 

Pursuant to the requirements of the Securities Act of 1933 and the Investment Company Act of 1940, the Registrant certifies that it has met all the requirements for effectiveness of this Post-Effective Amendment No. 45 (the “Amendment”) to this Registration Statement pursuant to Rule 485(b) of the Securities Act of 1933 and has duly caused this Amendment to be signed on its behalf by the undersigned, thereto duly authorized, in the City of New York, and the State of New York on the 11th day of October, 2012.

 

 

 

ALLIANZ FUNDS MULTI-STRATEGY TRUST

 

 

 

 

By:

/s/ Brian S. Shlissel

 

 

 

 

Name:

Brian S. Shlissel

 

Title:

President

 

 

Pursuant to the requirements of the Securities Act of 1933, this Amendment has been signed below by the following persons in the capacities and on the dates indicated.

 

Signature

 

Title

 

Date

 

 

 

 

 

/s/ Brian S. Shlissel

 

President

 

October 11, 2012

Brian S. Shlissel

 

 

 

 

 

 

 

 

 

Lawrence G. Altadonna*

 

Treasurer and Principal Financial and

 

 

Lawrence G. Altadonna

 

Accounting Officer

 

 

 

 

 

 

 

Bradford K. Gallagher*

 

Trustee

 

 

Bradford K. Gallagher

 

 

 

 

 

 

 

 

 

James A. Jacobson*

 

Trustee

 

 

James A. Jacobson

 

 

 

 

 

 

 

 

 

Hans W. Kertess*

 

Trustee

 

 

Hans W. Kertess

 

 

 

 

 

 

 

 

 

John C. Maney*

 

Trustee

 

 

John C. Maney

 

 

 

 

 

 

 

 

 

William B. Ogden, IV*

 

Trustee

 

 

William B. Ogden, IV

 

 

 

 

 

 

 

 

 

Alan Rappaport*

 

Trustee

 

 

Alan Rappaport

 

 

 

 

 

 

 

 

 

Deborah A. DeCotis*

 

Trustee

 

 

Deborah A. DeCotis

 

 

 

 

 



 

 

*By:

/s/ Brian S. Shlissel

 

 

 

 

 

Brian S. Shlissel

 

 

Attorney-In-Fact and Agent for the Individuals
Noted Above

 

 

Date: October 11, 2012

 



 

EXHIBIT INDEX

 

Index No.

 

Description of Exhibit

 

 

 

EX-101.INS

 

XBRL Instance Document

EX-101.SCH

 

XBRL Taxonomy Extension Schema Document

EX-101.CAL

 

XBRL Taxonomy Extension Calculation Linkbase

EX-101.DEF

 

XBRL Taxonomy Extension Definition Linkbase

EX-101.LAB

 

XBRL Taxonomy Extension Labels Linkbase

EX-101.PRE

 

XBRL Taxonomy Extension Presentation Linkbase

 

EX-101.INS 2 ck0001423227-20121003.xml XBRL INSTANCE DOCUMENT 485BPOS 2012-10-03 0001423227 2012-10-03 Allianz Funds Multi-Strategy Trust false 2012-10-03 2012-10-03 <tt>The Fund pays transaction costs, such as commissions, when it buys and sells <br />securities (or "turns over" its portfolio). High levels of portfolio turnover <br />may indicate higher transaction costs and may result in higher taxes for you <br />if your Fund shares are held in a taxable account. These costs, which are not <br />reflected in Total Annual Fund Operating Expenses or in the Examples above, <br />can adversely affect the Fund's investment performance.</tt> <div style="display:none">~ http://www.allianzinvestors.com/role/ExpenseExample_S000038497Member2 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <tt>The Fund seeks long-term capital appreciation.</tt> <tt>The Examples are intended to help you compare the cost of investing in shares <br />of the Fund with the costs of investing in other mutual funds. The Examples <br />assume that you invest $10,000 in the noted class of shares for the time periods <br />indicated, your investment has a 5% return each year, and the Fund's operating <br />expenses remain the same. Although your actual costs may be higher or lower, the <br />Examples show what your costs would be based on these assumptions. The Examples <br />are based, for the first year, on Total Annual Fund Operating Expenses After <br />Expense Reductions and, for all other periods, on Total Annual Fund Operating <br />Expenses.</tt> <tt>The Fund seeks to achieve its investment objective by normally investing at <br />least 80% of its net assets (plus borrowings made for investment purposes) in <br />equity securities of companies that are domiciled in or tied economically to <br />countries with emerging securities markets-that is, countries with securities <br />markets which are, in the opinion of the portfolio managers, less sophisticated <br />than more developed markets in terms of participation by investors, analyst <br />coverage, liquidity and regulation. The Fund may invest up to 10% of its net <br />assets in a particular industry. The Fund may achieve its exposure to non-U.S. <br />equity securities in several ways, including through investing in American <br />Depositary Receipts (ADRs) and other depositary receipts, in addition to direct <br />investments in the securities of non-U.S. issuers.<br /><br />In selecting investments for the Fund, the portfolio managers use a value <br />investing style focusing on equity securities of companies whose securities the <br />portfolio managers believe have low valuations, including smaller capitalization <br />securities and real estate investment trusts (REITs). The portfolio managers <br />partition the Fund's initial selection universe of non-U.S. and U.S. companies for <br />dividend-paying value opportunities across the emerging markets to determine <br />potential holdings for the Fund representing broad diversification by sector, <br />industry, country and issue. The portfolio managers use quantitative factors to <br />screen the Fund's selection universe, analyzing factors such as price-to-earnings <br />ratios (i.e., share price relative to a company's earnings), dividend yield, <br />price-to-book ratios (i.e., share price relative to a company's balance sheet value), <br />price-to-cash-flow ratios (i.e., share price relative to a company's cash flow). <br />After still further narrowing the universe through a combination of qualitative <br />analysis and fundamental research, the portfolio managers select approximately <br />125 to 175 securities for the Fund. The portfolio managers may consider selling <br />a security when any of the factors leading to its purchase materially changes or <br />when a more attractive candidate is identified, including when an alternative <br />security demonstrates a lower price-to-earnings ratio, a higher dividend yield or <br />other, favorable qualitative metrics.<br /><br />In response to unfavorable market and other conditions, the Fund may deviate from <br />its principal strategies by making temporary investments of some or all of its assets <br />in high-quality fixed income securities, cash and cash equivalents. The Fund may be <br />less likely to achieve its investment objective when it does so.</tt> Allianz NFJ Emerging Markets Value Fund You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in Class A Shares of eligible funds that are part of the family of mutual funds sponsored by Allianz. Examples. Other expenses are based upon estimated amounts for the Fund's initial fiscal year ending November 30, 2013 and include organizational expenses. Performance information for the Fund will be available after the Fund completes a full calendar year of operation. Investment Objective It is possible to lose money on an investment in the Fund. Principal Risks Shareholder Fees (fees paid directly from your investment) Example: Assuming you redeem your shares at the end of each period Performance Information 50000 Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) Portfolio Turnover. <tt>The Fund's net asset value, yield and total return will be affected by the allocation <br />determinations, investment decisions and techniques of the Fund's management, factors <br />specific to the issuers of securities and other instruments in which the Fund invests, <br />including actual or perceived changes in the financial condition or business prospects <br />of such issuers, and factors influencing the U.S. or global economies and securities <br />markets or relevant industries or sectors within them (Management Risk, Issuer Risk, <br />Market Risk). Equity securities may react more strongly to changes in an issuer's <br />financial condition or prospects than other securities of the same issuer, and securities <br />issued by smaller companies may be more volatile and present increased liquidity risk <br />(Equity Securities Risk, Smaller Company Risk). Non-U.S. securities markets and issuers <br />may be more volatile, smaller, less-liquid, less transparent and subject to less oversight, <br />particularly in emerging markets, and non-U.S. securities values may also fluctuate with <br />currency exchange rates (Non-U.S. Investment Risk, Emerging Markets Risk, Currency Risk). <br />Other principal risks include: Credit Risk (an issuer or counterparty may default on <br />obligations); Liquidity Risk (the lack of an active market for investments may cause delay <br />in disposition or force a sale below fair value); REIT Risk (adverse changes in the real <br />estate markets may affect the value of REIT investments); and Turnover Risk (high levels <br />of portfolio turnover increase transaction costs and taxes and may lower investment <br />performance). Please see "Summary of Principal Risks" in the Fund's statutory prospectus <br />for a more detailed description of the Fund's risks. It is possible to lose money on an <br />investment in the Fund. An investment in the Fund is not a deposit of a bank and is not <br />insured or guaranteed by the Federal Deposit Insurance Corporation or any other government <br />agency.</tt> Fees and Expenses of the Fund Principal Investment Strategies <tt>Performance information for the Fund will be available after the Fund completes <br />a full calendar year of operation.</tt> <tt>The tables below describe the fees and expenses that you may pay if you buy and <br />hold shares of the Fund. You may qualify for sales charge discounts if you and <br />your family invest, or agree to invest in the future, at least $50,000 in Class <br />A Shares of eligible funds that are part of the family of mutual funds sponsored <br />by Allianz. More information about these and other discounts is available in the <br />"Classes of Shares" section beginning on page 27 of the Fund's statutory prospectus <br />or from your financial advisor.</tt> <div style="display:none">~ http://www.allianzinvestors.com/role/OperatingExpensesData_S000038497Member2 column primary compact * row dei_LegalEntityAxis compact * row rr_ProspectusShareClassAxis compact * ~</div> Example: Assuming you do not redeem your shares An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. <div style="display:none">~ http://www.allianzinvestors.com/role/ExpenseExampleNoRedemption_S000038497Member2 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.allianzinvestors.com/role/ShareholderFeesData_S000038497Member2 column primary compact * row dei_LegalEntityAxis compact * row rr_ProspectusShareClassAxis compact * ~</div> 0.0000 333 233 2154 -0.1181 0.1211 0.0100 2013-12-31 2154 0.0100 0.0230 0.1411 0.01 0.0550 699 699 2401 -0.1181 0.1211 0.0100 2013-12-31 2401 0.0025 0.0155 0.1336 0.01 <tt>The Fund pays transaction costs, such as commissions, when it buys and sells <br />securities (or "turns over" its portfolio). High levels of portfolio turnover <br />may indicate higher transaction costs and may result in higher taxes for you <br />if your Fund shares are held in a taxable account. These costs, which are not <br />reflected in Total Annual Fund Operating Expenses or in the Examples above, <br />can adversely affect the Fund's investment performance.</tt> <div style="display:none">~ http://www.allianzinvestors.com/role/ExpenseExample_S000038497Member1 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <tt>The Fund seeks long-term capital appreciation.</tt> <tt>The Examples are intended to help you compare the cost of investing in shares <br />of the Fund with the costs of investing in other mutual funds. The Examples <br />assume that you invest $10,000 in the noted class of shares for the time periods <br />indicated, your investment has a 5% return each year, and the Fund's operating <br />expenses remain the same. Although your actual costs may be higher or lower, the <br />Examples show what your costs would be based on these assumptions. The Examples <br />are based, for the first year, on Total Annual Fund Operating Expenses After <br />Expense Reductions and, for all other periods, on Total Annual Fund Operating <br />Expenses.</tt> <tt>The Fund seeks to achieve its investment objective by normally investing at <br />least 80% of its net assets (plus borrowings made for investment purposes) <br />in equity securities of companies that are domiciled in or tied economically <br />to countries with emerging&#xA0;&#xA0;securities markets-that is, countries with <br />securities markets which are, in the opinion of the portfolio managers, less <br />sophisticated than more developed markets in terms of participation by <br />investors, analyst coverage, liquidity and regulation. The Fund may invest up <br />to 10% of its net assets in a particular industry. The Fund may achieve its <br />exposure to non-U.S. equity securities in several ways, including through <br />investing in American Depositary Receipts (ADRs) and other depositary receipts, <br />in addition to direct investments in the securities of non-U.S. issuers.<br /><br />In selecting investments for the Fund, the portfolio managers use a value <br />investing style focusing on equity securities of companies whose securities <br />the portfolio managers believe have low valuations, including smaller <br />capitalization securities and real estate investment trusts (REITs). The <br />portfolio managers partition the Fund's initial selection universe of non-U.S. <br />and U.S. companies for dividend-paying value opportunities across the emerging <br />markets to determine potential holdings for the Fund representing broad <br />diversification by sector, industry, country and issue. The portfolio managers <br />use quantitative factors to screen the Fund's selection universe, analyzing <br />factors such as price-to-earnings ratios (i.e., share price relative to a <br />company's earnings), dividend yield, price-to-book ratios (i.e., share price <br />relative to a company's balance sheet value), price-to-cash-flow ratios (i.e., <br />share price relative to a company's cash flow). After still further narrowing <br />the universe through a combination of qualitative analysis and fundamental <br />research, the portfolio managers select approximately 125 to 175 securities <br />for the Fund. The portfolio managers may consider selling a security when any <br />of the factors leading to its purchase materially changes or when a more <br />attractive candidate is identified, including when an alternative security <br />demonstrates a lower price-to-earnings ratio, a higher dividend yield or other, <br />favorable qualitative metrics.<br /><br />In response to unfavorable market and other conditions, the Fund may deviate <br />from its principal strategies by making temporary investments of some or all <br />of its assets in high-quality fixed income securities, cash and cash equivalents. <br />The Fund may be less likely to achieve its investment objective when it does so.</tt> Allianz NFJ Emerging Markets Value Fund Examples. Other expenses are based upon estimated amounts for the Fund's initial fiscal year ending November 30, 2013 and include organizational expenses. Performance information for the Fund will be available after the Fund completes a full calendar year of operation. Investment Objective It is possible to lose money on a investment in the Fund. Principal Risks Shareholder Fees (fees paid directly from your investment) None Performance Information Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) Portfolio Turnover. <tt>The Fund's net asset value, yield and total return will be affected by the allocation <br />determinations, investment decisions and techniques of the Fund's management, factors <br />specific to the issuers of securities and other instruments in which the Fund invests, <br />including actual or perceived changes in the financial condition or business prospects <br />of such issuers, and factors influencing the U.S. or global economies and securities <br />markets or relevant industries or sectors within them (Management Risk, Issuer Risk, <br />Market Risk). Equity securities may react more strongly to changes in an issuer's <br />financial condition or prospects than other securities of the same issuer, and <br />securities issued by smaller companies may be more volatile and present increased <br />liquidity risk (Equity Securities Risk, Smaller Company Risk). Non-U.S. securities <br />markets and issuers may be more volatile, smaller, less-liquid, less transparent and <br />subject to less oversight, particularly in emerging markets, and non-U.S. securities <br />values may also fluctuate with currency exchange rates (Non-U.S. Investment Risk, <br />Emerging Markets Risk, Currency Risk). Other principal risks include: Credit Risk (an <br />issuer or counterparty may default on obligations); Liquidity Risk (the lack of an <br />active market for investments may cause delay in disposition or force a sale below <br />fair value); REIT Risk (adverse changes in the real estate markets may affect the <br />value of REIT investments); and Turnover Risk (high levels of portfolio turnover <br />increase transaction costs and taxes and may lower investment performance). Please see <br />"Summary of Principal Risks" in the Fund's statutory prospectus for a more detailed <br />description of the Fund's risks. It is possible to lose money on an investment in the <br />Fund. An investment in the Fund is not a deposit of a bank and is not insured or <br />guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</tt> Fees and Expenses of the Fund Principal Investment Strategies <tt>Performance information for the Fund will be available after the Fund <br />completes a full calendar year of operation.</tt> <tt>The tables below describe the fees and expenses that you may pay if you buy and <br />hold shares of the Fund.</tt> <div style="display:none">~ http://www.allianzinvestors.com/role/OperatingExpensesData_S000038497Member1 column primary compact * row dei_LegalEntityAxis compact * row rr_ProspectusShareClassAxis compact * ~</div> An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. 158 1959 -0.1181 0.1211 0.0100 2013-12-31 0.0025 0.0155 0.1336 143 1919 -0.1181 0.1221 0.0100 2013-12-31 0.0000 0.0140 0.1321 132 1892 -0.1181 0.1211 0.0100 2013-12-31 0.0000 0.0130 0.1311 <tt>The Fund pays transaction costs, such as commissions, when it buys and sells <br />securities (or "turns over" its portfolio). High levels of portfolio turnover <br />may indicate higher transaction costs and may result in higher taxes for you <br />if your Fund shares are held in a taxable account. These costs, which are not <br />reflected in Total Annual Fund Operating Expenses or in the Examples above, <br />can adversely affect the Fund's investment performance.</tt> <div style="display:none">~ http://www.allianzinvestors.com/role/ExpenseExample_S000038496Member2 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <tt>The Fund seeks capital appreciation, with added emphasis on the protection <br />of capital during unfavorable market conditions.</tt> <tt>The Examples are intended to help you compare the cost of investing in shares <br />of the Fund with the costs of investing in other mutual funds. The Examples <br />assume that you invest $10,000 in the noted class of shares for the time periods <br />indicated, your investment has a 5% return each year, and the Fund's operating <br />expenses remain the same. Although your actual costs may be higher or lower, <br />the Examples show what your costs would be based on these assumptions. The <br />Examples are based, for the first year, on Total Annual Fund Operating Expenses <br />After Expense Reductions and, for all other periods, on Total Annual Fund <br />Operating Expenses.</tt> <tt>The Fund seeks to achieve its investment objective by normally investing at least <br />80% of its net assets (plus borrowings made for investment purposes) in common <br />stocks of U.S. companies. The Fund currently defines "U.S. companies" as those <br />companies that are deemed to be domiciled in the United States for purposes of <br />their geographical eligibility for inclusion in the S&amp;P 500 Index, a broad-based <br />index of U.S. stocks.<br /><br />The Fund expects to invest typically in all 500 stocks included in the S&amp;P 500 <br />Index, and seeks to replicate approximately the relative weighting of those stocks <br />on the S&amp;P 500 Index. To the extent the portfolio managers identify efficiencies <br />in achieving exposure to desired stocks through other instruments, the Fund may <br />complement its direct stock positions with temporary or medium-term investments <br />in stock index futures, exchange traded funds (ETFs) and other derivative <br />instruments. The portfolio managers may consider selling a particular position if <br />the security ceases to be included on the S&amp;P 500 Index (either through quarterly <br />rebalancing of the index or otherwise) or if a more attractive means of achieving <br />the same exposure is identified.<br /><br />Because the S&amp;P 500 Index does not incur the types of transaction costs that <br />the Fund bears in connection with rebalancing and responding to cash flows, <br />the Fund's stock portfolio (regardless of whether through direct or indirect <br />holdings) may consistently underperform the S&amp;P 500 Index.<br /><br />Under normal market and other conditions, in addition to the stock portfolio <br />described above, the Fund seeks to employ a strategy of investing in <br />exchange-traded options or FLEX options (i.e. listed options that are traded <br />on an exchange, but with customized strike prices and expiration dates) that, <br />when paired with the equity portfolio, promote the protection of capital during <br />unfavorable market conditions (the "Index Option Strategy").The Fund will utilize <br />(buy) equity index put options (long puts) on U.S. equity indexes with the purpose <br />of protecting the Fund from a significant market decline while limiting the cost <br />and interference of this "protection," and will write (sell) equity index call <br />options (short calls) on U.S. equity indexes to offset some or all of the cost of <br />the put options. Under normal market conditions, the option positions will consist <br />of long puts with notional value roughly equal to the full value of the Fund's stock <br />portfolio, expiring in roughly equal proportions over longer periods (e.g., the next <br />12 months), and short call positions expiring over a shorter period (e.g. less than <br />45 days) with notional value roughly equal to the full value of the Fund's stock <br />portfolio. Additionally, when a new long put position is established in periods of <br />elevated volatility, the portfolio managers may seek to pair it with a short put at <br />a strike price below the coinciding long put. All options are expected to be held to <br />expiration (unless redemptions require earlier close-out), and strike prices are <br />systematically selected. In pursuing the Index Option Strategy, the Fund generally <br />will not be able to offset the full cost of the "protection" it is seeking and must <br />keep significant cash and cash equivalents available, and therefore the Fund will <br />typically underperform the S&amp;P 500 Index during periods of market increases and <br />slight market decreases.<br /><br />In response to unusual market and other conditions, the Fund may deviate from its <br />principal strategies by making temporary investments of some or all of its assets <br />in long call options or call option spreads, high-quality fixed income securities, <br />cash and cash equivalents. The Fund may not achieve its investment objective when <br />it does so.</tt> Allianz AGIC U.S. Equity Hedged Fund You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in Class A Shares of eligible funds that are part of the family of mutual funds sponsored by Allianz. Examples. Other expenses are based upon estimated amounts for the Fund's initial fiscal year ending November 30, 2013 and include organizational expenses. Performance information for the Fund will be available after the Fund completes a full calendar year of operation. Investment Objective It is possible to lose money on an investment in the Fund. Principal Risks Shareholder Fees (fees paid directly from your investment) Example: Assuming you redeem your shares at the end of each period Performance Information 50000 Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) Portfolio Turnover. <tt>The Fund's net asset value, yield and total return will be affected by the <br />allocation determinations, investment decisions and techniques of the Fund's <br />management, factors specific to the issuers of securities and other <br />instruments in which the Fund invests, including actual or perceived changes <br />in the financial condition or business prospects of such issuers, and factors <br />influencing the U.S. or global economies and securities markets or relevant <br />industries or sectors within them (Management Risk, Issuer Risk, Market Risk). <br />Equity securities may react more strongly to changes in an issuer's financial <br />condition or prospects than other securities of the same issuer (Equity <br />Securities Risk). Other principal risks include: Credit Risk (an issuer or <br />counterparty may default on obligations); Derivatives Risk (derivative <br />instruments are complex, have different characteristics than their underlying <br />assets and are subject to additional risks, including leverage, liquidity and <br />valuation); Leveraging Risk (instruments and transactions that constitute <br />leverage magnify gains or losses and increase volatility); Liquidity Risk <br />(the lack of an active market for investments may cause delay in disposition <br />or force a sale below fair value); and Turnover Risk (high levels of portfolio <br />turnover increase transaction costs and taxes and may lower investment <br />performance). Please see "Summary of Principal Risks" in the Fund's statutory <br />prospectus for a more detailed description of the Fund's risks. It is possible <br />to lose money on an investment in the Fund. An investment in the Fund is not a <br />deposit of a bank and is not insured or guaranteed by the Federal Deposit <br />Insurance Corporation or any other government agency.</tt> Fees and Expenses of the Fund Principal Investment Strategies <tt>Performance information for the Fund will be available after the Fund completes <br />a full calendar year of operation.</tt> <tt>The tables below describe the fees and expenses that you may pay if you buy <br />and hold shares of the Fund. You may qualify for sales charge discounts if <br />you and your family invest, or agree to inves in the future, at least $50,000 <br />in Class A Shares of eligible funds that are part of the family of mutual <br />funds sponsored by Allianz. More information about these and other discounts <br />is available in the "Classes of Shares" section beginning on page 27 of the <br />Fund's statutory prospectus or from your financial advisor.</tt> <div style="display:none">~ http://www.allianzinvestors.com/role/OperatingExpensesData_S000038496Member2 column primary compact * row dei_LegalEntityAxis compact * row rr_ProspectusShareClassAxis compact * ~</div> Example: Assuming you do not redeem your shares An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. <div style="display:none">~ http://www.allianzinvestors.com/role/ExpenseExampleNoRedemption_S000038496Member2 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.allianzinvestors.com/role/ShareholderFeesData_S000038496Member2 column primary compact * row dei_LegalEntityAxis compact * row rr_ProspectusShareClassAxis compact * ~</div> 0.0000 303 203 1429 -0.0698 0.0728 0.0070 2013-12-31 1429 0.0100 0.0200 0.0898 0.01 0.0550 670 670 1699 -0.0698 0.0728 0.0070 2013-12-31 1699 0.0025 0.0125 0.0823 0.01 <tt>The Fund pays transaction costs, such as commissions, when it buys and sells <br />securities (or "turns over" its portfolio). High levels of portfolio turnover <br />may indicate higher transaction costs and may result in higher taxes for you <br />if your Fund shares are held in a taxable account. These costs, which are not <br />reflected in Total Annual Fund Operating Expenses or in the Examples above, <br />can adversely affect the Fund's investment performance.</tt> <div style="display:none">~ http://www.allianzinvestors.com/role/ExpenseExample_S000038496Member1 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <tt>The Fund seeks capital appreciation, with added emphasis on the protection of <br />capital during unfavorable market conditions.</tt> <tt>The Examples are intended to help you compare the cost of investing in shares <br />of the Fund with the costs of investing in other mutual funds. The Examples <br />assume that you invest $10,000 in the noted class of shares for the time periods <br />indicated, your investment has a 5% return each year, and the Fund's operating <br />expenses remain the same. Although your actual costs may be higher or lower, the <br />Examples show what your costs would be based on these assumptions. The Examples <br />are based, for the first year, on Total Annual Fund Operating Expenses After <br />Expense Reductions and, for all other periods, on Total Annual Fund Operating <br />Expenses.</tt> <tt>The Fund seeks to achieve its investment objective by normally investing at least <br />80% of its net assets (plus borrowings made for investment purposes) in common <br />stocks of U.S. companies. The Fund currently defines "U.S. companies" as those <br />companies that are deemed to be domiciled in the United States for purposes of <br />their geographical eligibility for inclusion in the S&amp;P 500 Index, a broad-based <br />index of U.S. stocks.<br /><br />The Fund expects to invest typically in all 500 stocks included in the S&amp;P 500 <br />Index, and seeks to replicate approximately the relative weighting of those stocks <br />on the S&amp;P 500 Index. To the extent the portfolio managers identify efficiencies <br />in achieving exposure to desired stocks through other instruments, the Fund may <br />complement its direct stock positions with temporary or medium-term investments in <br />stock index futures, exchange traded funds (ETFs) and other derivative instruments. <br />The portfolio managers may consider selling a particular position if the security <br />ceases to be included on the S&amp;P 500 Index (either through quarterly rebalancing <br />of the index or otherwise) or if a more attractive means of achieving the same <br />exposure is identified. Because the S&amp;P 500 Index does not incur the types of <br />transaction costs that the Fund bears in connection with rebalancing and responding <br />to cash flows, the Fund's stock portfolio (regardless of whether through direct or <br />indirect holdings) may consistently underperform the S&amp;P 500 Index.<br /><br />Under normal market and other conditions, in addition to the stock portfolio <br />described above, the Fund seeks to employ a strategy of investing in exchange-traded <br />options or FLEX options (i.e. listed options that are traded on an exchange, but <br />with customized strike prices and expiration dates) that, when paired with the equity <br />portfolio, promote the protection of capital during unfavorable market conditions <br />(the "Index Option Strategy").The Fund will utilize (buy) equity index put options <br />(long puts) on U.S. equity indexes with the purpose of protecting the Fund from a <br />significant market decline while limiting the cost and interference of this <br />"protection," and will write (sell) equity index call options (short calls) on U.S. <br />equity indexes to offset some or all of the cost of the put options. Under normal <br />market conditions, the option positions will consist of long puts with notional <br />value roughly equal to the full value of the Fund's stock portfolio, expiring in <br />roughly equal proportions over longer periods (e.g., the next 12 months), and short <br />call positions expiring over a shorter period (e.g. less than 45 days) with notional <br />value roughly equal to the full value of the Fund's stock portfolio. Additionally, <br />when a new long put position is established in periods of elevated volatility, the <br />portfolio managers may seek to pair it with a short put at a strike price below the <br />coinciding long put. All options are expected to be held to expiration (unless <br />redemptions require earlier close-out), and strike prices are systematically selected. <br />In pursuing the Index Option Strategy, the Fund generally will not be able to offset <br />the full cost of the "protection" it is seeking and must keep significant cash and <br />cash equivalents available, and therefore the Fund will typically underperform the <br />S&amp;P 500 Index during periods of market increases and slight market decreases.<br /><br />In response to unusual market and other conditions, the Fund may deviate from its <br />principal strategies by making temporary investments of some or all of its assets <br />in long call options or call option spreads, high-quality fixed income securities, <br />cash and cash equivalents. The Fund may not achieve its investment objective when <br />it does so.</tt> Allianz AGIC U.S. Equity Hedged Fund Examples. Other expenses are based upon estimated amounts for the Fund's initial fiscal year ending November 30, 2013 and include organizational expenses. Performance information for the Fund will be available after the Fund completes a full calendar year of operation. Investment Objective It is possible to lose money on an investment in the Fund. Principal Risks Shareholder Fees (fees paid directly from your investment) None Performance Information Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) Portfolio Turnover. <tt>The Fund's net asset value, yield and total return will be affected by the <br />allocation determinations, investment decisions and techniques of the Fund's <br />management, factors specific to the issuers of securities and other instruments <br />in which the Fund invests, including actual or perceived changes in the <br />financial condition or business prospects of such issuers, and factors <br />influencing the U.S. or global economies and securities markets or relevant <br />industries or sectors within them (Management Risk, Issuer Risk, Market Risk). <br />Equity securities may react more strongly to changes in an issuer's financial <br />condition or prospects than other securities of the same issuer (Equity Securities <br />Risk). Other principal risks include: Credit Risk (an issuer or counterparty <br />may default on obligations); Derivatives Risk (derivative instruments are <br />complex, have different characteristics than their underlying assets and are <br />subject to additional risks, including leverage, liquidity and valuation); <br />Leveraging Risk (instruments and transactions that constitute leverage magnify <br />gains or losses and increase volatility); Liquidity Risk (the lack of an active <br />market for investments may cause delay in disposition or force a sale below fair <br />value); and Turnover Risk (high levels of portfolio turnover increase transaction <br />costs and taxes and may lower investment performance). Please see "Summary of <br />Principal Risks" in the Fund's statutory prospectus for a more detailed <br />description of the Fund's risks. It is possible to lose money on an investment <br />in the Fund. An investment in the Fund is not a deposit of a bank and is not <br />insured or guaranteed by the Federal Deposit Insurance Corporation or any other <br />government agency.</tt> Fees and Expenses of the Fund Principal Investment Strategies <tt>Performance information for the Fund will be available after the Fund completes <br />a full calendar year of operation.</tt> <tt>The tables below describe the fees and expenses that you may pay if you buy <br />and hold shares of the Fund.</tt> <div style="display:none">~ http://www.allianzinvestors.com/role/OperatingExpensesData_S000038496Member1 column primary compact * row dei_LegalEntityAxis compact * row rr_ProspectusShareClassAxis compact * ~</div> An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. 127 1216 -0.0698 0.0728 0.0070 2013-12-31 0.0025 0.0125 0.0823 112 1173 -0.0698 0.0738 0.0070 2013-12-31 0.0000 0.0110 0.0808 102 1144 -0.0698 0.0728 0.0070 2013-12-31 0.0000 0.0100 0.0798 <tt>The Fund pays transaction costs, such as commissions, when it buys and sells <br />securities (or "turns over" its portfolio). High levels of portfolio turnover <br />may indicate higher transaction costs and may result in higher taxes for you <br />if your Fund shares are held in a taxable account. These costs, which are not <br />reflected in Total Annual Fund Operating Expenses or in the Examples above, <br />can adversely affect the Fund's investment performance.</tt> <div style="display:none">~ http://www.allianzinvestors.com/role/ExpenseExample_S000038495Member2 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <tt>The Fund seeks to generate attractive risk-adjusted absolute returns <br />through a complete market cycle.</tt> <tt>The Examples are intended to help you compare the cost of investing <br />in shares of the Fund with the costs of investing in other mutual <br />funds. The Examples assume that you invest $10,000 in the noted class <br />of shares for the time periods indicated, your investment has a 5% <br />return each year, and the Fund's operating expenses remain the same. <br />Although your actual costs may be higher or lower, the Examples show <br />what your costs would be based on these assumptions. The Examples are <br />based, for the first year, on Total Annual Fund Operating Expenses <br />After Expense Reductions and, for all other periods, on Total Annual <br />Fund Operating Expenses.</tt> <tt>The Fund seeks to achieve its investment objective by investing significantly <br />in exchange-traded listed and FLEX U.S. equity index options, while holding <br />cash and cash equivalents as collateral for option investments.<br /><br />Under normal market conditions, the Fund will hold the majority of its assets <br />in cash and cash equivalents such as U.S. Treasury bills. The portfolio <br />managers will select these in an effort to maintain a stable portfolio base <br />as collateral for the index option spread strategy described below.<br /><br />Using a portion of its cash and cash equivalents as collateral, the portfolio <br />managers utilize a combination of proprietary models to construct paired <br />option positions, or so-called "option spreads," typically by buying and <br />selling put options and call options on equity indexes such as the S&amp;P 500 <br />Index, Russell 2000 Index and NASDAQ 100. Call options are contracts <br />representing the right to purchase the underlying instrument at a specified <br />price (the "strike price") at or before a specified future date (the <br />"expiration date"), while put options represent the right to sell the <br />underlying instrument at the strike price on or before the expiration date. <br />Index options, which are not based on a single underlying security, are <br />typically cash-settled without requiring delivery. The Fund may buy and sell <br />exchange-traded options and FLEX options (i.e., listed options that are traded <br />on an exchange but with customized strike prices and expiration dates). Option <br />spreads are typically created by buying and selling options of the same class <br />on the same underlying instrument but with different strike prices or <br />expiration dates. The number of contracts bought and sold can be different in <br />a spread (normally called a "ratio spread") or they can be the same. The <br />portfolio managers seek to create option-based "profit zones" that upon <br />expiration of the combination of individual option positions that make up <br />the option spread will capture positive payoffs if the level of the <br />underlying index (or other instrument) ends up within the chosen "profit <br />zone." The Fund seeks to optimize spread positions and profit zones based <br />on (a) targeted positive return potential, (b) structural risk protections, <br />(c) collateral management, and (d) flexibility to restructure profit zones if<br />necessary. The Fund intends to invest in 50 to 100 option spreads, consisting <br />of 50 to 400 individual option positions, and may buy or sell put or call index <br />options that are not paired as part of an option spread. The duration of <br />individual option positions will normally range from 20 to 75 days at inception. <br />The gross notional value of options held by the Fund may significantly exceed <br />the current net asset value of the Fund at any time. To the extent the Fund <br />enters into option positions that are only partially or not at all paired as <br />part of an option spread, the Fund may have greater exposure to rapid <br />deterioration of the portfolio and should be deemed speculative.<br /><br />The Fund may invest in exchange traded funds ("ETFs") and exchange traded <br />notes ("ETNs"), including ETFs and ETNs that provide exposure to market <br />volatility, either as an offset or as an addition to option-based trades. The <br />Fund may utilize foreign currency exchange contracts, options, stock index <br />futures contracts and other derivative instruments. In response to unfavorable<br />market and other conditions, the Fund may deviate from its principal strategies <br />by making temporary investments of some or all of its assets in high-quality <br />fixed income securities, cash and cash equivalents. The Fund may not achieve <br />its investment objective when it does so.</tt> Allianz AGIC Structured Alpha Fund You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in Class A Shares of eligible funds that are part of the family of mutual funds sponsored by Allianz. Examples. Other expenses are based upon estimated amounts for the Fund's initial fiscal year ending November 30, 2013 and include organizational expenses. Performance information for the Fund will be available after the Fund completes a full calendar year of operation. Investment Objective It is possible to lose money on an investment in the Fund. Principal Risks Shareholder Fees (fees paid directly from your investment) Example: Assuming you redeem your shares at the end of each period Performance Information 50000 Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) Portfolio Turnover. <tt>The Fund's net asset value, yield and total return will be affected by the <br />allocation determinations, investment decisions and techniques of the Fund's <br />management and factors influencing the U.S. or global economies and securities <br />markets or relevant industries or sectors within them (Management Risk, Market <br />Risk). Fixed income (debt) securities are subject to greater levels of credit <br />and liquidity risk, may be speculative and may decline in value due to changes <br />in interest rates or an issuer's or counterparty's deterioration or default <br />(Fixed Income Risk). Other principal risks include: Credit Risk (an issuer or <br />counterparty may default on obligations); Derivatives Risk (derivative <br />instruments are complex, have different characteristics than their underlying<br />assets and are subject to additional risks, including leverage, liquidity and <br />valuation); Leveraging Risk (instruments and transactions that constitute <br />leverage magnify gains or losses and increase volatility); Liquidity Risk (the <br />lack of an active market for investments may cause delay in disposition or <br />force a sale below fair value); and Turnover Risk (high levels of portfolio<br />turnover increase transaction costs and taxes and may lower investment <br />performance). Please see "Summary of Principal Risks" in the Fund's statutory <br />prospectus for a more detailed description of the Fund's risks. It is possible <br />to lose money on an investment in the Fund. An investment in the Fund is not a <br />deposit of a bank and is not insured or guaranteed by the Federal Deposit <br />Insurance Corporation or any other government agency.</tt> Fees and Expenses of the Fund Principal Investment Strategies <tt>Performance information for the Fund will be available after the Fund completes <br />a full calendar year of operation.</tt> <tt>The tables below describe the fees and expenses that you may pay if<br />you buy and hold shares of the Fund. You may qualify for sales<br />charge discounts if you and your family invest, or agree to invest<br />in the future, at least $50,000 in Class A Shares of eligible funds<br />that are part of the family of mutual funds sponsored by Allianz.<br />More information about these and other discounts is available in<br />the "Classes of Shares" section beginning on page 27 of the Fund's<br />statutory prospectus or from your financial advisor.</tt> <div style="display:none">~ http://www.allianzinvestors.com/role/OperatingExpensesData_S000038495Member2 column primary compact * row dei_LegalEntityAxis compact * row rr_ProspectusShareClassAxis compact * ~</div> Example: Assuming you do not redeem your shares An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. <div style="display:none">~ http://www.allianzinvestors.com/role/ExpenseExampleNoRedemption_S000038495Member2 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.allianzinvestors.com/role/ShareholderFeesData_S000038495Member2 column primary compact * row dei_LegalEntityAxis compact * row rr_ProspectusShareClassAxis compact * ~</div> 0.0000 368 268 1204 -0.0338 0.0378 0.0125 2013-12-31 1204 0.0100 0.0265 0.0603 0.01 0.0550 732 732 1482 -0.0338 0.0378 0.0125 2013-12-31 1482 0.0025 0.0190 0.0528 0.01 <tt>The Fund pays transaction costs, such as commissions, when it buys and sells<br />securities (or "turns over" its portfolio). High levels of portfolio turnover <br />may indicate higher transaction costs and may result in higher taxes for you <br />if your Fund shares are held in a taxable account. These costs, which are not<br />reflected in Total Annual Fund Operating Expenses or in the Examples above, <br />can adversely affect the Fund's investment performance.</tt> <div style="display:none">~ http://www.allianzinvestors.com/role/ExpenseExample_S000038495Member1 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <tt>The Fund seeks to generate attractive risk-adjusted absolute returns through <br />a complete market cycle.</tt> <tt>The Examples are intended to help you compare the cost of investing in shares <br />of the Fund with the costs of investing in other mutual funds. The Examples <br />assume that you invest $10,000 in the noted class of shares for the time periods <br />indicated, your investment has a 5% return each year, and the Fund's operating<br />expenses remain the same. Although your actual costs may be higher or lower, the <br />Examples show what your costs would be based on these assumptions. The Examples <br />are based, for the first year, on Total Annual Fund Operating Expenses After <br />Expense Reductions and, for all other periods, on Total Annual Fund Operating <br />Expenses.</tt> <tt>The Fund seeks to achieve its investment objective by investing significantly in <br />exchange-traded listed and FLEX U.S. equity index options, while holding cash and <br />cash equivalents as collateral for option investments.<br /><br />Under normal market conditions, the Fund will hold the majority of its assets in <br />cash and cash equivalents such as U.S. Treasury bills. The portfolio managers will <br />select these in an effort to maintain a stable portfolio base as collateral for the <br />index option spread strategy described below.<br /><br />Using a portion of its cash and cash equivalents as collateral, the portfolio <br />managers utilize a combination of proprietary models to construct paired option <br />positions, or so-called "option spreads," typically by buying and selling put options <br />and call options on equity indexes such as the S&amp;P 500 Index, Russell 2000 Index <br />and NASDAQ 100. Call options are contracts representing the right to purchase <br />the underlying instrument at a specified price (the "strike price") at or before <br />a specified future date (the "expiration date"), while put options represent the <br />right to sell the underlying instrument at the strike price on or before the<br />expiration date. Index options, which are not based on a single underlying security, <br />are typically cash-settled without requiring delivery. The Fund may buy and sell <br />exchange-traded options and FLEX options (i.e., listed options that are traded on <br />an exchange but with customized strike prices and expiration dates). Option<br />spreads are typically created by buying and selling options of the same class on <br />the same underlying instrument but with different strike prices or expiration dates. <br />The number of contracts bought and sold can be different in a spread (normally <br />called a "ratio spread") or they can be the same. The portfolio managers seek to<br />create option-based "profit zones" that upon expiration of the combination of <br />individual option positions that make up the option spread will capture positive <br />payoffs if the level of the underlying index (or other instrument) ends up within <br />the chosen "profit zone." The Fund seeks to optimize spread positions and profit <br />zones based on (a) targeted positive return potential, (b) structural risk<br />protections, (c) collateral management, and (d) flexibility to restructure profit <br />zones if necessary. The Fund intends to invest in 50 to 100 option spreads, <br />consisting of 50 to 400 individual option positions, and may buy or sell put or <br />call index options that are not paired as part of an option spread. The duration <br />of individual option positions will normally range from 20 to 75 days at inception. <br />The gross notional value of options held by the Fund may significantly exceed the <br />current net asset value of the Fund at any time. To the extent the Fund enters <br />into option positions that are only partially or not at all paired as part of an <br />option spread, the Fund may have greater exposure to rapid deterioration of the <br />portfolio and should be deemed speculative.<br /><br />The Fund may invest in exchange traded funds ("ETFs") and exchange traded notes <br />("ETNs"), including ETFs and ETNs that provide exposure to market volatility, <br />either as an offset or as an addition to option-based trades. The Fund may utilize <br />foreign currency exchange contracts, options, stock index futures contracts and <br />other derivative instruments. In response to unfavorable market and other conditions, <br />the Fund may deviate from its principal strategies by making temporary investments <br />of some or all of its assets in high-quality fixed income securities, cash and cash<br />equivalents. The Fund may not achieve its investment objective when it does so.</tt> Allianz AGIC Structured Alpha Fund Examples. Other expenses are based upon estimated amounts for the Fund's initial fiscal year ending November 30, 2013 and include organizational expenses. Performance information for the Fund will be available after the Fund completes a full calendar year of operation. Investment Objective It is possible to lose money on an investment in the Fund. Principal Risks Shareholder Fees (fees paid directly from your investment) None Performance Information Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) Portfolio Turnover. <tt>The Fund's net asset value, yield and total return will be affected by the <br />allocation determinations, investment decisions and techniques of the Fund's <br />management, and factors influencing the U.S. or global economies and securities <br />markets or relevant industries or sectors within them (Management Risk, Market <br />Risk). Fixed income (debt) securities are subject to greater levels of<br />credit and liquidity risk, may be speculative and may decline in value due to <br />changes in interest rates or an issuer's or counterparty's deterioration or <br />default (Fixed Income Risk). Other principal risks include: Credit Risk (an <br />issuer or counterparty may default on obligations); Derivatives Risk (derivative <br />instruments are complex, have different characteristics than their underlying<br />assets and are subject to additional risks, including leverage, liquidity and <br />valuation); Leveraging Risk (instruments and transactions that constitute <br />leverage magnify gains or losses and increase volatility); Liquidity Risk (the <br />lack of an active market for investments may cause delay in disposition or <br />force a sale below fair value); and Turnover Risk (high levels of portfolio<br />turnover increase transaction costs and taxes and may lower investment <br />performance). Please see "Summary of Principal Risks" in the Fund's statutory <br />prospectus for a more detailed description of the Fund's risks. It is possible <br />to lose money on an investment in the Fund. An investment in the Fund is not a <br />deposit of a bank and is not insured or guaranteed by the Federal Deposit <br />Insurance Corporation or any other government agency.</tt> Fees and Expenses of the Fund Principal Investment Strategies <tt>Performance information for the Fund will be available after the Fund <br />completes a full calendar year of operation.</tt> <tt>The tables below describe the fees and expenses that you may pay if you buy <br />and hold shares of the Fund.</tt> <div style="display:none">~ http://www.allianzinvestors.com/role/OperatingExpensesData_S000038495Member1 column primary compact * row dei_LegalEntityAxis compact * row rr_ProspectusShareClassAxis compact * ~</div> An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. 193 986 -0.0338 0.0378 0.0125 2013-12-31 0.0025 0.0190 0.0528 178 942 -0.0338 0.0388 0.0125 2013-12-31 0.0000 0.0175 0.0513 168 912 -0.0338 0.0378 0.0125 2013-12-31 0.0000 0.0165 0.0503 0001423227 ck0001423227:SummaryS000038495-1Memberck0001423227:S000038495Memberck0001423227:C000118770Member 2012-10-03 2012-10-03 0001423227 ck0001423227:SummaryS000038495-1Memberck0001423227:S000038495Memberck0001423227:C000118771Member 2012-10-03 2012-10-03 0001423227 ck0001423227:SummaryS000038495-1Memberck0001423227:S000038495Memberck0001423227:C000118772Member 2012-10-03 2012-10-03 0001423227 ck0001423227:SummaryS000038495-1Memberck0001423227:S000038495Member 2012-10-03 2012-10-03 0001423227 ck0001423227:SummaryS000038495-2Memberck0001423227:S000038495Memberck0001423227:C000118773Member 2012-10-03 2012-10-03 0001423227 ck0001423227:SummaryS000038495-2Memberck0001423227:S000038495Memberck0001423227:C000118774Member 2012-10-03 2012-10-03 0001423227 ck0001423227:SummaryS000038495-2Memberck0001423227:S000038495Member 2012-10-03 2012-10-03 0001423227 ck0001423227:SummaryS000038496-1Memberck0001423227:S000038496Memberck0001423227:C000118776Member 2012-10-03 2012-10-03 0001423227 ck0001423227:SummaryS000038496-1Memberck0001423227:S000038496Memberck0001423227:C000118777Member 2012-10-03 2012-10-03 0001423227 ck0001423227:SummaryS000038496-1Memberck0001423227:S000038496Memberck0001423227:C000118778Member 2012-10-03 2012-10-03 0001423227 ck0001423227:SummaryS000038496-1Memberck0001423227:S000038496Member 2012-10-03 2012-10-03 0001423227 ck0001423227:SummaryS000038496-2Memberck0001423227:S000038496Memberck0001423227:C000118775Member 2012-10-03 2012-10-03 0001423227 ck0001423227:SummaryS000038496-2Memberck0001423227:S000038496Memberck0001423227:C000118779Member 2012-10-03 2012-10-03 0001423227 ck0001423227:SummaryS000038496-2Memberck0001423227:S000038496Member 2012-10-03 2012-10-03 0001423227 ck0001423227:SummaryS000038497-1Memberck0001423227:S000038497Memberck0001423227:C000118780Member 2012-10-03 2012-10-03 0001423227 ck0001423227:SummaryS000038497-1Memberck0001423227:S000038497Memberck0001423227:C000118781Member 2012-10-03 2012-10-03 0001423227 ck0001423227:SummaryS000038497-1Memberck0001423227:S000038497Memberck0001423227:C000118782Member 2012-10-03 2012-10-03 0001423227 ck0001423227:SummaryS000038497-1Memberck0001423227:S000038497Member 2012-10-03 2012-10-03 0001423227 ck0001423227:SummaryS000038497-2Memberck0001423227:S000038497Memberck0001423227:C000118783Member 2012-10-03 2012-10-03 0001423227 ck0001423227:SummaryS000038497-2Memberck0001423227:S000038497Memberck0001423227:C000118784Member 2012-10-03 2012-10-03 0001423227 ck0001423227:SummaryS000038497-2Memberck0001423227:S000038497Member 2012-10-03 2012-10-03 0001423227 2012-10-03 2012-10-03 iso4217:USD pure Other expenses are based upon estimated amounts for the Fund's initial fiscal year ending November 30, 2013 and include organizational expenses. Total Annual Fund Operating Expenses After Expense Reductions reflect the effect of a contractual agreement by the Manager to waive, through December 31, 2013, its management fee and/or reimburse the Fund to the extent that Total Annual Fund Operating Expenses, including payment of organizational expenses but excluding interest, taxes, extraordinary expenses, and certain credits and other expenses, exceed 1.65% for Institutional Class, 1.75% for Class P and 1.90% for Class D shares. Under the Expense Limitation Agreement, the Manager may recoup waived or reimbursed amounts until November 30, 2017 provided total expenses, including such recoupment, do not exceed the annual expenses limit. For Class A shares, the CDSC is imposed only in certain circumstances where shares are purchased without a front-end sales charge at the time of purchase. For Class C shares, the CDSC is imposed only on shares redeemed in the first year. Total Annual Fund Operating Expenses After Expense Reductions reflect the effect of a contractual agreement by the Manager to waive, through December 31, 2013, its management fee and/or reimburse the Fund to the extent that Total Annual Fund Operating Expenses, including payment of organizational expenses but excluding interest, taxes, extraordinary expenses, and certain credits and other expenses, exceed 1.90% for Class A and 2.65% for Class C shares. Under the Expense Limitation Agreement, the Manager may recoup waived or reimbursed amounts until November 30, 2017, provided total expenses, including such recoupment, do not exceed the annual expenses limit. Total Annual Fund Operating Expenses After Expense Reductions reflect the effect of a contractual agreement by the Manager to waive, through December 31, 2013, its management fee and/or reimburse the Fund to the extent that Total Annual Fund Operating Expenses, including payment of organizational expenses but excluding interest, taxes, extraordinary expenses, and certain credits and other expenses, exceed 1.00% for Institutional Class, 1.10% for Class P and 1.25% for Class D shares. Under the Expense Limitation Agreement, the Manager may recoup waived or reimbursed amounts until November 30, 2017, provided total expenses, including such recoupment, do not exceed the annual expenses limit. Total Annual Fund Operating Expenses After Expense Reductions reflect the effect of a contractual agreement by the Manager to waive, through December 31, 2013, its management fee and/or reimburse the Fund to the extent that Total Annual Fund Operating Expenses, including payment of organizational expenses but excluding interest, taxes, extraordinary expenses, and certain credits and other expenses, exceed 1.25% for Class A and 2.00% for Class C shares. Under the Expense Limitation Agreement, the Manager may recoup waived or reimbursed amounts until November 30, 2017, provided total expenses, including such recoupment, do not exceed the annual expenses limit. Total Annual Fund Operating Expenses After Expense Reductions reflect the effect of a contractual agreement by the Manager to waive, through December 31, 2013, its management fee and/or reimburse the Fund to the extent that Total Annual Fund Operating Expenses, including payment of organizational expenses but excluding interest, taxes, extraordinary expenses, and certain credits and other expenses, exceed 1.30% for Institutional Class, 1.40% for Class P and 1.55% for Class D shares. Under the Expense Limitation Agreement, the Manager may recoup waived or reimbursed amounts until November 30, 2017, provided total expenses, including such recoupment, do not exceed the annual expenses limit. Total Annual Fund Operating Expenses After Expense Reductions reflect the effect of a contractual agreement by the Manager to waive, through December 31, 2013, its management fee and/or reimburse the Fund to the extent that Total Annual Fund Operating Expenses, including payment of organizational expenses but excluding interest, taxes, extraordinary expenses, and certain credits and other expenses, exceed 1.55% for Class A and 2.30% for Class C shares. Under the Expense Limitation Agreement, the Manager may recoup waived or reimbursed amounts until November 30, 2017, provided total expenses, including such recoupment, do not exceed the annual expenses limit. 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Label Element Value
Risk Return [Abstract] rr_RiskReturnAbstract  
ProspectusDate rr_ProspectusDate Oct. 03, 2012
Allianz AGIC U.S. Equity-Hedged Fund (Second Prospectus Summary) | Allianz AGIC U.S. Equity-Hedged Fund
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading Allianz AGIC U.S. Equity Hedged Fund
Objective [Heading] rr_ObjectiveHeading Investment Objective
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock The Fund seeks capital appreciation, with added emphasis on the protection
of capital during unfavorable market conditions.
Expense [Heading] rr_ExpenseHeading Fees and Expenses of the Fund
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock The tables below describe the fees and expenses that you may pay if you buy
and hold shares of the Fund. You may qualify for sales charge discounts if
you and your family invest, or agree to inves in the future, at least $50,000
in Class A Shares of eligible funds that are part of the family of mutual
funds sponsored by Allianz. More information about these and other discounts
is available in the "Classes of Shares" section beginning on page 27 of the
Fund's statutory prospectus or from your financial advisor.
Shareholder Fees Caption [Text] rr_ShareholderFeesCaption Shareholder Fees (fees paid directly from your investment)
Operating Expenses Caption [Text] rr_OperatingExpensesCaption Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading Portfolio Turnover.
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs, such as commissions, when it buys and sells
securities (or "turns over" its portfolio). High levels of portfolio turnover
may indicate higher transaction costs and may result in higher taxes for you
if your Fund shares are held in a taxable account. These costs, which are not
reflected in Total Annual Fund Operating Expenses or in the Examples