Allianz Global Investors Fund Management LLC 1633 Broadway New York, NY 10019 November 1, 2013 Ladies and Gentlemen:

Exhibit (h)(14)(f)(iv)

Allianz Global Investors Fund Management LLC
0000 Xxxxxxxx
Xxx Xxxx, XX 00000

November 1, 2013

Ladies and Gentlemen:

     Pursuant to an Expense Waiver Agreement effective as of November 1, 2013 between Allianz Funds (the “Trust”) and Allianz Global Investors Fund Management LLC (“AGIFM”), AGIFM has agreed to certain waivers of its fees payable under the Amended and Restated Investment Advisory Agreement dated May 5, 2000, as amended or supplemented from time to time.

     In connection with this, Allianz Global Investors U.S. LLC (“AllianzGI U.S.”) agrees to waive a portion of its fees payable under the Portfolio Management Agreement dated July 19, 2002 between AGIFM and AllianzGI U.S. (as novated from Xxxxxxxx-Xxxxxxxxx Capital Management LLC, effective August 25, 2010), as amended or supplemented from time to time, with respect to the series, and in the amounts, specified in Exhibit A, for a term lasting from November 1, 2013 through October 31, 2014.

     If the foregoing correctly sets forth the agreement between AGIFM and AllianzGI U.S. U.S., please so indicate by signing and returning to AGIFM the enclosed copy hereof.

		Very truly yours,
		ALLIANZ GLOBAL INVESTORS FUND MANAGEMENT LLC
		By:		/s/ Xxxxx X. Xxxxxxxx
		Name: Xxxxx X. Xxxxxxxx
		Title: Managing Director

ACCEPTED AND AGREED TO:
Allianz Global Investors U.S. LLC
By:		/s/ Xxxxxx Xxxxxxxx
Name: Xxxxxx Xxxxxxxx
Title: Member, US Executive Committee of
Allianz Global Investors U.S. Holdings, LLC,
Sole Member of Allianz Global Investors U.S. LLC

Exhibit A

		Expense Waiver (stated as a
		percentage of average daily net
		assets of the Fund or
		attributable to the specified
Fund		share class(es), as applicable)
AllianzGI Income & Growth Fund		0.01% on assets in excess of $2 billion, an additional 0.015% on assets in excess of $3 billion, and an additional 0.025% on assets in excess of $5 billion