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PIMCO FUNDS PROFILE 
All data as of 02.28.10, unless otherwise indicated. 
PIMCO Floating Income Fund Inst (PFIIX)
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Fund Overview
Highlights
  • May reduce the volatility within a diversified portfolio by reducing interest rate risk (the risk that the value of fixed-income securities will decline when rates rise).
  • Takes a broad based approach to investing in floating rate securities, utilizing a wide investment universe to pursue the best available opportunities in the global market.
  • Offers the potential for high current income when interest rates rise.
  • Can serve as an attractive complement to core bond holdings.
Why Invest in this Fund

The top-down investment process begins with PIMCO's annual Secular Forum at which the firm develops a 3- to 5-year outlook for the global economy and interest rates. This helps set the basic portfolio parameters, including duration, yield-curve positioning, sector weightings and credit quality. Bottom-up strategies include sector selection and credit research, which stresses fundamental and in-depth analysis of all holdings. Just as it does with other bond strategies, PIMCO takes a broad-based approach in defining its floating income universe. The Fund has the flexibility to invest across numerous sectors within this market segment, including investment-grade corporate, high yield and emerging market securities, as well as bank loans. In general, the Fund will invest primarily in the upper credit quality tiers of the below investment grade market, while keeping a duration of less than one year.
At A Glance
Symbol Lookup
 
Symbol
CUSIP
Inst Shares
PFIIX
722005170
Objective
Seeks maximum current yield consistent with prudent investment management

Primary Portfolio
Variable and floating-rate securities and their economic equivalents (0-1 yr. avg. duration)

Total Fund Assets (in millions)
$549.3

Inception Date
Jul 31, 2004

Dividend Frequency
Monthly

Net Expense Ratio
0.630%

Gross Expense Ratio
-

> Share Class Pricing

Manager
Curtis Mewbourne

Mr. Mewbourne is a managing director, portfolio manager and head of the emerging markets, diversified income (co-head), and Insurance portfolio management teams. He has longtime portfolio management experience spanning a broad range of asset classes. He holds an engineering degree in computer science from the University of Pennsylvania.

Management Firm
Pacific Investment Management Company LLC (PIMCO)

Newport Beach, California

Led by Founder and Co-Chief Investment Officer Bill Gross, PIMCO is widely recognized as one of the premier bond managers in the world. PIMCO applies this expertise to a range of core and specialized investment portfolios.



> Management Commentary

Investors should consider the investment objectives, risks, charges and expenses of this Fund carefully before investing. This and other information is contained in the Fund´s prospectus and summary prospectus, if available, which may be obtained by contacting your financial advisor, or by calling 888-877-4626. Click here for the Fund´s prospectus or summary prospectus. Please read them carefully before you invest or send money.

Past performance is no guarantee of future results. Please refer to the Price and Performance link for complete standardized returns. This commentary is not an offer or solicitation for the purchase or sale of any financial instrument. It is presented only to provide information on investment strategies and opportunities. The material contains the current opinions of the author, which are subject to change without notice. Statements concerning financial market trends are based on current market conditions, which will fluctuate. References to specific securities and issuers are for illustrative purposes only and are not intended to be, and should not be interpreted as, recommendations to purchase or sell such securities.

 

The credit quality of the investment in the portfolio does not apply to the stability or safety of the fund. Duration is a measure of the fund's price sensitivity expressed in years. Diversification does not ensure against loss. In an environment where interest rates may trend upward, rising rates will negatively impact most bond funds, and fixed income securities held by a fund are likely to decrease in value. Bond funds and individual bonds with a longer duration (a measure of the expected life of a security) tend to be more sensitive to changes in interest rates, usually making them more volatile than securities with shorter durations.

 

The Fund will invest under normal circumstances its net assets in a diversified portfolio of variable and floating-rate securities and securities with durations of less than or equal to one year. Variable and floating-rate securities generally pay interest at rates that adjust whenever a specified interest rate changes and/or reset on predetermined dates (such as the last day of a month or calendar quarter). The Fund may invest its assets in high yield securities rated below investment grade. In addition, the Fund may invest, without limit, in emerging market securities and may invest in securities denominated in foreign currencies. The Fund will normally hedge a majority of its exposure to foreign currency to reduce the risk of loss due to fluctuations in currency exchange rates. High-yield bonds typically have a lower credit rating than other bonds. Lower rated bonds generally involve a greater risk to principal than higher rated bonds. Investing in non-U.S. securities may entail greater risk due to foreign economic and political developments. This Fund may use derivative instruments for hedging purposes or as part of its investment strategy. Use of these instruments may involve certain costs and risks such as liquidity risk, interest rate risk, market risk, credit risk, management risk and the risk that a fund could not close out a position when it would be most advantageous to do so. Portfolios investing in derivatives could lose more than the principal amount invested in these instruments.

 

PIMCO Funds and Allianz Funds are distributed by Allianz Global Investors Distributors LLC, 1345 Avenue of the Americas, New York, NY 10105-4800, www.allianzinvestors.com,  1-888-877-4626.

Investment Products: NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED

 

Click here to view the Fund's current sector weightings.

All holdings are subject to change.

 

Click here to view the Fund's current standardized performance.
CLICK TO VIEW OUR BUSINESS CONTINUITY PLAN, PROXY POLICIES & VOTING RECORDS, OR OUR PRIVACY POLICY.
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