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		PIMCO FUNDS PROFILE	All data as of 02.28.10, unless otherwise indicated.
		PIMCO Investment Grade Corporate Bond Fund A (PBDAX)

About this Fund

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Fund Overview

Highlights

Broad investment universe, with the ability to add value beyond corporate bonds through investment in higher quality U.S. government bonds, mortgages, and foreign bonds.
Utilizes PIMCO's unique approach to credit research, relying primarily on an extensive in-house credit team, emphasizing independent original research.
Managed by Mark Kiesel, who heads PIMCO's investment grade corporate desk.

Why Invest in this Fund

Asset Allocation

Investment-grade corporate bonds are a credit-sensitive sector of the fixed-income market and, as a result, generally offer higher income potential than Treasuries. Since these investments have more credit risk, their reaction to changes in market dynamics can differ from those of government obligations making investment grade corporate bonds an important consideration for asset allocations.

Expert Management

PIMCO Investment Grade Corporate Bond Fund benefits from PIMCO's broad fixed-income expertise, active investment management, and global credit research capabilities.

PIMCO is widely recognized as a leader in fixed-income investment management, with expertise in all areas of the bond market.
The PIMCO bond team employs a top-down investment strategy based on the firm's secular outlook for the economy and the bond market. The Fund is actively managed within this framework, with numerous value-added strategies used to increase total return potential and control risk.
PIMCO's independent research capabilities are critical for a Fund focused on credit-sensitive segments of the bond market, especially the firm's bottom-up credit research and fundamental analysis.

	Investment Process

	The top-down investment process begins with our annual secular forum where we develop a 3- to 5-year outlook for the global economy and interest rates. Quarterly meetings are then held to discuss how the outlook applies to upcoming 3- to 12-month periods and to forecast specific influencing factors, including interest rate volatility, yield curve movements and credit trends. Taken together, these sessions set the basic portfolio parameters, including duration, yield-curve positioning, sector weightings and credit quality. Bottom-up strategies, including credit analysis, quantitative research and individual issue selection, are then meshed with the top-down strategies to add value.

At A Glance


Symbol Lookup
	Symbol	CUSIP
A Shares	PBDAX	722008307

Objective
Seeks maximum total return, consistent with preservation of capital and prudent investment management

Primary Portfolio
Corporate fixed income securities (3-7 years avg. duration)

Total Fund Assets (in millions)
$6,156.3

Inception Date
Apr 28, 2000

Dividend Frequency
Monthly

Maximum Sales Charge
3.75%

Net Expense Ratio
0.900%

Gross Expense Ratio
-

> Share Class Pricing

Manager
Mark Kiesel

Mark Kiesel is a Managing Director and a Senior Member of PIMCO's investment strategy and portfolio management group.

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 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. This Fund will normally invest its assets in a diversified portfolio of investment grade corporate fixed income securities of varying maturities. The Fund may invest its assets in non-U.S. securities, which may entail greater risk due to foreign economic and political developments, and a portion of its total assets in high yield securities. Lower rated bonds generally involve a greater risk to principal than higher rated bonds. 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. The Fund may invest all of its assets in 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.


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