PIMCO Convertible Fund A (PACNX)

All data as of 04/30/13, unless otherwise indicated.
PIMCO
Objective
The Fund seeks maximum total return, consistent with prudent investment management.
Primary Portfolio
Convertible Securities
At a Glance
SymbolPACNX
CUSIP Number 693391849
Total Fund Assets (in millions) $527.3
Share Class Inception Date 5/31/2011
Dividend Frequency Quarterly
Maximum Sales Charge 5.50%
Net Operating Expenses 1.05 %
Total Annual Operating Expenses 1.08 %

Daily Price
NAV Day Return
$14.69 $0.03 0.20%
YTD Return
11.64%
As of 05/21/13

Historical Prices

05/16/13

$14.61

05/17/13

$14.65

05/20/13

$14.66
Performance quoted represents past performance and is not a guarantee or a reliable indicator of future results. Investment return and the principal value of an investment will fluctuate. Shares may be worth more or less than original cost when redeemed. Current performance may be lower or higher than average annual returns shown. Performance quoted does not reflect any sales charges, if applicable, and performance would be lower if it did. Click Performance tab for performance current to the most recent month-end.
Breakpoints
Sales Range (USD)Fee %
Under $50,000 5.50%
$50,000 but under $100,000 4.50%
$100,000 but under $250,000 3.50%
$250,000 but under $500,000 2.50%
$500,000 but under $1 million 2.00%
$1 million but under $2,000,001 0.00%*
$2,000,001 but under $5,000,001 0.00%*
$5,000,001+ 0.00%*
Fund Overview
Actively managed exposure to a unique asset class

Convertible bonds may provide investors with a risk profile similar to corporate bonds, with the potential for stock-like returns. PIMCO Convertible Fund seeks attractive total return – capital appreciation plus income – from a broad portfolio of higher-quality convertibles.


Why Invest In This Fund
Unique combination of stock and bond characteristics

Like fixed income securities, convertibles have a maturity date, principal repayment at maturity, a fixed coupon payment and a credit rating. They also have an embedded option to convert into the stock of the underlying company. The stock-like traits provide upside potential, while the bond “floor” helps limit downside risk.


Diversification benefits

Convertibles tend to have low correlations to both stocks and bonds, which can help improve overall portfolio diversification. (Correlation is the tendency for asset classes to move in lockstep.) The fund also has the flexibility to capture opportunities across a broad universe of industries and issuers. Of course, diversification does not assure a profit or protect against loss, but it can facilitate better risk-adjusted returns.


Expert convertibles management

PIMCO has been investing in convertibles since 1989. In managing these securities, we draw on our extensive company and credit research capabilities, as well as our unmatched resources dedicated to analyzing and modeling interest rate risk, volatility and embedded options.

View All Fund Literature

Managers

Jonathan L. Horne

Mr. Horne is an executive vice president and portfolio manager in the Newport Beach office, focusing on credit absolute return investing and relative value across corporate debt markets. He previously served on the interest rate derivatives desk, where he specialized in interest rate swaps and swaptions. Prior to joining PIMCO in 2006, he worked for a multi-strategy hedge fund controlled by the Bass family of Ft. Worth, Texas, where he focused on risk management and options trading. He has nine years of investment experience and holds an MBA from the Wharton School of the University of Pennsylvania and undergraduate degrees in economics and philosophy from Vanderbilt University.

Investors should consider the investment objectives, risks, charges and expenses of the funds carefully before investing. This and other information are contained in the fund’s prospectus and summary prospectus, if available, which may be obtained by contacting your financial advisor or PIMCO representative.  Click here for a complete list of the PIMCO Funds prospectuses and summary prospectuses. Please read them carefully before you invest or send money.

*A CDSC may apply for shares redeemed within 18 months of purchase.
 
A word about risk:
Investing in foreign denominated and/or domiciled securities may involve heightened risk due to currency fluctuations, and economic and political risks, which may be enhanced in emerging markets. High-yield, lower-rated, securities involve greater risk than higher-rated securities; portfolios that invest in them may be subject to greater levels of credit and liquidity risk than portfolios that do not. Investing in securities of smaller companies tends to be more volatile and less liquid than securities of larger companies. Derivatives may involve certain costs and risks such as liquidity, interest rate, market, credit, management and the risk that a position could not be closed when most advantageous. Investing in derivatives could lose more than the amount invested. Diversification does not ensure against loss. The value of most bond funds and fixed income securities are impacted by changes in interest rates. Bonds and bond funds with longer durations tend to be more sensitive and more volatile than securities with shorter durations; bond prices generally fall as interest rates rise.
 
Annual Report of Proxy Voting Records, Form N-PX »
Quarterly Schedule of Portfolio Holdings, Form N-Q »

Past performance is not a guarantee or a reliable indicator of future results. For funds with at least a 3-yr history, Morningstar calculates a Morningstar Rating based on a risk-adjusted return measure that accounts for variation in a fund’s monthly performance (including the effects of sales charges, loads and redemption fees) with an emphasis on downward variations and consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. The Overall Morningstar Rating is a weighted average of the performance figures for its 3-, 5- and 10-yr (if applicable) Morningstar Rating metrics. Morningstar, Inc.® 2011. All rights reserved. The information contained herein; (1) is proprietary to Morningstar and/or its affiliates; (2) may not be copied or distributed; (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results. Hollow stars represent a class of shares with inception dates that is different than the inception date of the fund. For the period prior to the inception date of these shares, performance information is based on the performance of the fund’s Institutional Class shares, adjusted to reflect the actual distribution and/or service (12b-1) fees and other expenses paid by the newer share class.


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