Following its acquisition of the right to manage and distribute all of Nicholas-Applegate's open-end funds, Pilgrim American Capital Corporation has placed its own name on those funds. Pilgrim made the change after obtaining approval from the Nicholas-Applegate board of trustees.

The funds affected will now be known as: Pilgrim High-Yield Fund II, Pilgrim Small-Cap Growth Fund, Pilgrim Mid-Cap Growth Fund, Pilgrim Large-Cap Growth Fund, Pilgrim Convertible Fund, Pilgrim Balanced Fund, Pilgrim Emerging Countries Fund, Pilgrim High-Quality Bond Fund, Pilgrim International Core Growth Fund, Pilgrim International Small-Cap Growth Fund, and Pilgrim Worldwide Growth Fund.

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