Notes to Financial Statements
June 30, 2009
Allianz Funds (the “Trust”) is registered under the Investment Company Act of 1940 (the “Act”), as amended, as an open-end investment
management company organized as a Massachusetts business trust. The Trust currently consists of thirty separate investment funds (the “Fund or
“Funds”). The Trust may offer up to eight classes of shares: Institutional, Administrative, A, B, C, D, P and R. These financial statements pertain to
ten of the funds offered by the Trust.
2. SIGNIFICANT ACCOUNTING POLICIES
The following is a summary of significant accounting policies followed by the Trust in the preparation of its financial statements in conformity
with accounting principles generally accepted in the United States of America. The preparation of financial statements in accordance with
accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect
the reported amounts and disclosures in the financial statements. Actual results could differ from those estimates.
Under the Trust’s organizational documents, each Trustee, officer, employee or other agent of the Trust (including the Trust’s investment
adviser) is indemnified against certain liabilities that may arise out of performance of their duties to the Funds. Additionally, in the normal course
of business, the Funds enter into contracts that contain a variety of indemnification clauses. The Funds’ maximum exposure under these
arrangements is unknown as this would involve future claims that may be made against the Funds that have not yet occurred. However, the Funds
have not had prior claims or losses pursuant to these contracts, and believe the risk of loss to be remote.
The following is a summary of significant accounting policies consistently followed by the Funds:
Valuation of Investments. Portfolio securities and other financial instruments for which market quotations are readily ava