Allianz Global Investors Fund Management LLC 1633 Broadway New York, NY 10019 October 4, 2011 Ladies and Gentlemen:

Exhibit (h)(13)(b)(ii)

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

October 4, 2011

Ladies and Gentlemen:

     Pursuant to an Expense Waiver Agreement effective as of November 1, 2011 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.

     In connection with this, Allianz Global Investors Capital LLC (“AGIC”) agrees to waive a portion of its fees payable under the Portfolio Management Agreement dated July 19, 2002 between AGIFM and AGIC with respect to the series, and in the amounts, specified in Exhibit A, for a term lasting from November 1, 2011 through October 31, 2012.

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

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

ACCEPTED AND AGREED TO:

Allianz Global Investors Capital LLC
By: Name:		/s/ Xxxxxxx X. Xxxxx Xxxxxxx X. Xxxxx
Title:		Managing Director, Chief Legal Officer and Secretary

Exhibit A

		Expense Waiver (stated as a
		percentage of average daily net
		assets of the Fund or
		attributable to the specified
Fund		share classes, as applicable)
Allianz AGIC International			0.05	%
Allianz AGIC Pacific Rim			0.05	%