PIMCO FUNDS EQUITY ADVISORS SERIES
497, 1996-07-19
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THIS WAS FILED USING THE INCORRECT CIK NUMBER, THEREFORE, PLEASE DISREGARD.

               SUPPLEMENT DATED JULY 11, 1996
              TO PROSPECTUS DATED JUNE 15, 1996
                       OF PIMCO FUNDS
                              
     The PIMCO Strategic Balanced Fund became operational on
June 28, 1996.  Accordingly, "Management of the Trust" on
page 32 of the June 15, 1996 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 Strategic Balanced Fund  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.


THIS WAS FILED USING THE INCORRECT CIK NUMBER, THEREFORE, PLEASE DISREGARD.





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