PIMCO Funds:
Pacific Investment Management Series
Institutional and Administrative Share Classes
Supplement dated January 7, 1998 to
Prospectus dated July 15, 1997, as
Supplemented November 1, 1997
The following information supplements the information appearing under the
heading "Management of the Trust" in the accompanying prospectus:
Effective immediately, the Short-Term, StocksPLUS, Strategic Balanced and
Moderate Duration Funds will be managed by a team led by William H. Gross,
Managing Director, PIMCO.
