At the Margin - Monthly
At the Margin - Quarterly

NACM CIO Horacio Valeiras (at left) accepts the Lipper Award.

Two non-U.S. equity funds managed by Nicholas-Applegate have won prestigious Lipper Awards for consistently superior investment performance in their style categories. Funds managed in an emerging markets systematic strategy and in a Pacific Rim strategy received awards in their respective style groups.These funds are distributed by Allianz Global Investors Distributors LLC, see www.allianzinvestors.com. For more information on the 2008 Lipper Fund Awards winners and selection methodology, please access http://awards.lipperweb.com/us.

One way to capitalize on the recent market volatility is through a strategy with the flexibility to go both long and short stocks. The Nicholas-Applegate Global Equity 130/30 Fund utilizes a fundamental, bottom-up approach to select attractive investment candidates from around the globe. This Fund leverages Nicholas-Applegate’s entire set of traditional U.S. and non-U.S. investment professionals, as well as the firm’s proven quantitative investment platform. The result is a Fund with 130% in long investments deemed attractive, 30% short exposure in unattractive investments, for a net market exposure of 100%. This new fund launched on April 1st.

Carefully consider the investment objectives, risks, charges and expenses of the fund before investing. This and other information can be found in the fund’s prospectus, which may be obtained here or by calling (800) 551-8043. The prospectus should be read carefully before investing.

Investments in overseas markets may pose special risks, including currency fluctuation and political risks, and the portfolio is expected to be more volatile than a U.S.-only portfolio. These risks are generally intensified for investments in emerging markets. Strategies that employ leverage will tend to increase or decrease at a greater rate than if no leverage were employed, and losses will be magnified by borrowings. Distributor: Nicholas-Applegate Securities.

Nicholas-Applegate volunteers were wearing the green as hosts for a St. Patrick's Day party at Senior Community Centers of San Diego. Party goers enjoyed refreshments, Irish fiddle music, and the chance to win raffle prizes including San Diego Padres tickets and Wal-Mart vouchers. Senior Community Centers provides meals, affordable housing and health services to elderly residents of San Diego, many of whom live below the poverty level.

Nicholas-Applegate has been named a winner in California's Best Places to Work program, sponsored by Employers Group, a preeminent human resources advocacy serving California employers. The firm ranked fourth in the mid-sized company category (100-499 employees). More than 400 California companies vied for the award. Please see the attached press release for more detail.