Shares may be worth more or less than original purchase price. Investment return and the value of shares will fluctuate. An investment in the fund involves risk, including loss of principal. Past performance is not a guarantee or a reliable indicator of future results. Please see the fund’s most recent shareholder report for more details. GAAP or the final tax character of those distributions might later report that the sources of those distributions included capital gains and/or a return of capital. It is possible that the fund may not issue a Section 19 Notice in situations where the fund’s financial statements prepared later and in accordance with U.S. GAAP, and recordkeeping practices under income tax regulations. It is important to note that differences exist between the fund’s daily internal accounting records, the fund’s financial statements prepared in accordance with U.S. Final determination of a distribution’s tax character will be made on Form 1099 DIV sent to shareholders each January.
Please refer to the most recent Section 19 Notice, if applicable, for additional information regarding the composition of distributions. A negative value for Undistributed Net Investment Income represents the potential for a ROC on an estimated tax basis. Because the distribution rate may include a ROC, it should not be confused with yield or income. Distributions may be comprised of ordinary income, net capital gains, and/or a return of capital (ROC) of your investment in the fund. The firm’s innovative investment process is designed to add value for clients by marrying a top-down, global macroeconomic outlook with bottom-up analysis from one of the industry’s most experienced research teams.ĭistribution rates are not performance and are calculated by annualizing the most recent distribution per share and dividing by the NAV or Market Price as of the reported date. PIMCO has been actively managing income-producing securities since the firm’s founding in 1971.
It is expected that the fund normally will have a short to intermediate average portfolio duration (i.e., within a zero to eight year range), although it may be shorter or longer at any time depending on market conditions and other factors. The fund may normally invest up to 40% of its total assets in bank loans (including, among others, senior loans, delayed funding loans, covenant-lite obligations, revolving credit facilities and loan participations and assignments). The fund may invest up to 30% of its total assets in securities and instruments that are economically tied to “emerging market” countries however, the fund may invest without limitation in short-term investment grade sovereign debt issued by emerging market issuers. The fund will normally invest at least 25% of its total assets in mortgage-related assets issued by government agencies or other governmental entities or by private originators or issuers. With PIMCO’s macroeconomic analysis as the basis for top-down investment decisions, including geographic and credit sector emphasis, PIMCO manages the fund with a focus on seeking income generating investment ideas across multiple fixed income sectors, with an emphasis on seeking opportunities in developed and emerging global credit markets. In managing the fund, PIMCO employs a dynamic asset allocation strategy across multiple fixed income sectors based on, among other things, market conditions, valuation assessments, economic outlook, credit market trends and other economic factors. The fund utilizes an opportunistic approach to pursue high conviction income-generating ideas across credit markets to seek current income as a primary objective and capital appreciation as a secondary objective.
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