Exhibit 11

February 24, 2005

Board of Trustees
Nicholas-Applegate Institutional Funds
600 West Broadway, 30th Floor
San Diego, CA  92101


Re:  NICHOLAS-APPLEGATE INSTITUTIONAL FUNDS, ON BEHALF OF NICHOLAS-APPLEGATE
     EMERGING COUNTRIES AND EMERGING MARKETS OPPORTUNITIES FUNDS

Dear Ladies and Gentlemen:

     I have acted as counsel to Nicholas-Applegate Institutional Funds, a
Delaware statutory trust (the "Trust"), and have familiarity with the Trust's
business operations, practices and procedures. You have asked for my opinion
regarding the issuance of shares of beneficial interest by the Trust in
connection with the acquisition by the Nicholas-Applegate Emerging Markets
Opportunities Fund, a series of the Trust, of the assets of
Nicholas-Applegate Emerging Countries Fund (the "Funds") which will be
registered on a Form N-14 Registration Statement (the "Registration
Statement") to be filed by the Trust with the U.S. Securities and Exchange
Commission.

     I have examined originals or certified copies, or copies otherwise
identified to my satisfaction as being true copies, of various corporate records
of the Trust and such other instruments, documents and records as I have deemed
necessary in order to render this opinion. I have assumed the genuineness of all
signatures, the authenticity of all documents examined by me and the correctness
of all statements of fact contained in those documents.

     On the basis of the foregoing, it is my opinion that the shares of
beneficial interest of the Trust being registered under the Securities Act of
1933, as amended, in the Registration Statement have been duly authorized and
will be legally and validly issued, fully paid and non-assessable by the Trust
upon transfer of the assets of the Funds pursuant to the terms of the Plan of
Reorganization included in this Registration Statement.

     I hereby consent to use of this opinion as an exhibit to the Registration
Statement.

           Sincerely,

             /s/

           Charles H. Field, Jr.
           General Counsel
           Nicholas-Applegate Capital Management, LLC