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PIMCO FUNDS: MULTI-MANAGER SERIES
Supplement Dated August 1, 2000
to the
Prospectus for Institutional Class and Administrative Class Shares
Dated April 3, 2000
DISCLOSURE RELATING TO PIMCO MICRO-CAP FUND
Effective immediately, Institutional and Administrative Class shares of
PIMCO Micro-Cap Fund are available for purchase by new investors.
In connection with this, the section of the Prospectus captioned
"Purchases, Redemptions and Exchanges" is revised to remove the subsection
captioned "Investment Limitations."
