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		PIMCO FUNDS PROFILE	All data as of 02.28.10, unless otherwise indicated.
		PIMCO Low Duration Fund Inst (PTLDX)

About this Fund

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Fund Overview

	Highlights

	Managed by Bill Gross, a PIMCO founder and Chief Investment Officer, who is widely regarded as one of the country's premier bond managers. Offers investors broad bond market exposure with reduced interest rate risk. Employs a variety of value-added strategies to increase the opportunity for total return potential and help reduce portfolio risk. A core short-term bond fund that invests in a diverse range of fixed income securities while maintaining an average duration of between one and three years.

	Why Invest in this Fund

	Minimal Volatility Shorter-term bonds are considered more stable than longer-term, higher-yielding bonds, but less stable than lower yielding savings accounts and CDs. Expert Management As measured by assets under management, PIMCO is one of the largest investment advisors in the country. Among PIMCO's clients are many of the 100 largest U.S. corporations. PIMCO founder Bill Gross manages PIMCO Low Duration Fund. Mr. Gross is widely acknowledged as one of the country's premier bond managers. In fact, Morningstar named Bill Gross and his fixed-income team as their "Fixed-Income Manager of the Year" an unprecedented three times, in 1998, 2000 and 2007, . Performance While past performance is no guarantee of future results, PIMCO Low Duration Fund has a history of strong results. For a complete display of the Fund's returns choose the Performance tab at the top of this page.

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. This helps set the basic portfolio parameters, including duration, yield-curve positioning, sector weightings, credit quality breakdown and finally, individual issue selection. The manager seeks to add value in a number of ways. Duration management is used to actively monitor and adjust the portfolio's average duration in line with the firm's secular and cyclical outlook. Sector allocations are used to maximize the yield advantage normally present in mortgage, corporate, and international securities versus Treasuries. Liquidity management is used to invest a portion of the assets in higher-yielding and slightly less liquid securities after sufficient reserves are provided to meet cash flow needs. The manager may at times use futures to replicate bond positions.** This strategy can offer the opportunity to outperform physical bond securities due to the relative pricing of the futures contracts and PIMCO's active management of the collateral backing the futures.

**Futures may also be used to manage the Fund portfolio's overall duration and sector exposure.

At A Glance


Symbol Lookup
	Symbol	CUSIP
Inst Shares	PTLDX	693390304

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

Primary Portfolio
Shorter-term, investment grade bonds (1-3 yr. avg. duration)

Total Fund Assets (in millions)
$18,128.5

Inception Date
May 11, 1987

Dividend Frequency
Monthly

Net Expense Ratio
0.490%

Gross Expense Ratio
-

> Share Class Pricing

Manager
William Gross

Bill Gross, CFA, is a founder and Managing Director of PIMCO. He began his investment career in 1969 and is widely regarded as the world's foremost fixed income authority.

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. 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. For PIMCO's current AUM, please visit the Our Managers section. 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. 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 Morningstar Fixed-Income Fund Manager of the Year Award winners are chosen based upon Morningstar's own research and in-depth evaluation by its senior editorial staff. Morningstar named Bill Gross and the PIMCO Bond Team as Manager of the Year for fixed-income for both 1998 and 2000. The Fund may invest up to 20% in foreign securities, up to 10% in high-yield securities, and may at times invest in mortgage-related securities. Investing in foreign securities may entail risk due to foreign economic and political developments; this risk may be enhanced when investing in emerging markets. 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. 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 those instruments. Savings accounts and CDs are guaranteed as to repayment of principal and interest by an agency of the US government. However, the investment return and principal value of bonds and bond funds will fluctuate. 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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