SUPPLEMENT DATED JULY 17, 1996 TO PROSPECTUS AND
STATEMENT OF ADDITIONAL INFORMATION
DATED JUNE 15, 1996 OF PIMCO FUNDS
1. Under "Investment Restrictions" on page 21 of the Prospectus, and
page 24 of the Statement of Additional Information, (J)(b) should read
as follows:
(J)(b) for the remaining Funds (except the PIMCO Foreign, Global
and International Funds), invest greater than 10% of its
assets in the securities of issuers based in NICs.
2. Under "Foreign Securities" on page 26, second paragraph, second sentence
of the Prospectus, and page 8, first paragraph, last sentence of the
Statement of Additional Information, should read as follows:
The PIMCO Short-Term, Low Duration and Low Duration III Funds
limit their investments in securities of issuers based in NICs
to 5% of their assets, and the remaining Funds (except the PIMCO
Foreign, Global and International Funds) limit their investments
in securities of issuers based in NICs to 10% of their assets.
3. The PIMCO Strategic Balanced Fund became operational on June 28, 1996.
Accordingly, "Management of the Trust" on page 32 of the Prospectus
is amended as follows:
Fund Portfolio Manager and Business Experience
(past five years)
Short-Term Fund David H. Edington, Managing Director, PIMCO.
StocksPLUS Fund A Fixed Income Portfolio Manager, Mr. Edington
Strategic Balanced Fund joined PIMCO in 1987 and has managed the PIMCO
Short-Term, StocksPLUS, and Strategic Balanced
Funds since their inception, October 7, 1987,
May 14, 1993, and June 28, 1996, respectively.
