PIMCO Emerging Local Bond Fund INSTL (PELBX)

All data as of 04/30/13, unless otherwise indicated.
PIMCO
Objective
Seeks maximum total return, consistent with preservation of capital and prudent investment management
Primary Portfolio
Fixed income securities denominated in currencies of non-U.S. countries
At a Glance
SymbolPELBX
CUSIP Number 72201F516
Total Fund Assets (in millions) $15,642.1
Share Class Inception Date 12/29/2006
Dividend Frequency Accrues Daily; Distributes Monthly
Maximum Sales Charge -
Net Operating Expenses 0.9 %
Total Annual Operating Expenses 0.9 %

Daily Price
NAV Day Return
$10.86 -$0.05 -0.45%
YTD Return
0.64%
As of 05/22/13

Historical Prices

05/17/13

$10.96

05/20/13

$10.95

05/21/13

$10.91
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.
Fund Overview
Potential to tap higher yields and currency appreciation from the world’s fastest-growing economies

PIMCO Emerging Local Bond Fund offers exposure to fast-growing emerging markets economies through a portfolio invested in local currency-denominated debt securities and currencies. As a result, the fund may allow investors to benefit from relatively higher yields in emerging markets local bonds and appreciation in emerging markets currencies.


Why Invest In This Fund
Attractive risk-adjusted return potential

The fund primarily invests in emerging markets (EM) government bonds denominated in local currencies. As these countries’ economies strengthen, this strategy offers the potential to benefit from a falling U.S. dollar, higher yields and gains in bond values as yields compress.


Help diversify your overall portfolio

EM local currency instruments tend to have low correlations with other asset classes, such as U.S. Treasuries, and may help enhance overall portfolio diversification. Although this diversification can benefit investors by reducing risk, it does not guarantee a profit or necessarily protect against a loss.


Extensive emerging markets experience

PIMCO’s emerging markets team averages 12 years of experience in investing and EM economic policy, spanning a diverse range of market environments. The team is strategically located around the world in order to identify opportunities in a wide range of local markets and to respond quickly to changing conditions in emerging economies.

View All Fund Literature

Managers

Michael A. Gomez

Mr. Gomez is a managing director in the Newport Beach office, a portfolio manager and co-head of the emerging markets portfolio management team. Prior to joining PIMCO in 2003, he was responsible for market making and proprietary trading of emerging market bonds at Goldman Sachs. Prior to that, he spent a year in Colombia serving as a financial consultant to the Ministry of Finance and Public Credit. Mr. Gomez was named one of the rising stars of mutual funds by Institutional Investor News (2009). He is chairman of the oversight committee for the Markit GEMX emerging markets indices and also serves on other committees pertaining to emerging markets. He has 18 years of investment experience and holds an MBA from the Wharton School of the University of Pennsylvania, where he also received his undergraduate degree.
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 word about risk: The PIMCO Emerging Local Bond Fund will invest under normal circumstances primarily in Fixed Income Instruments denominated in currencies of countries with emerging securities markets. The Fund’s investments in Fixed Income Instruments may be represented by forwards or derivatives. Investing in non-U.S. securities entails additional risks, including political and economic risk and the risk of currency fluctuations; these risks are generally enhanced in emerging markets. The Fund may, but is not required to, hedge its exposure to non-U.S. currencies.

The Fund may invest all of its assets in derivative instruments, such as options, futures contracts or swap agreements, or in mortgage- or asset-backed securities. Use of derivative instruments involves certain costs and risks such as liquidity risk, interest rate risk, market risk, credit risk, and management risk. Portfolios investing in derivatives could lose more than the principal amount invested in those instruments. The Fund may invest all of its assets in high yield securities subject to a maximum of 15% of its total assets in securities rated below B by Moody’s or by S&P, or, if unrated, determined by PIMCO to be of comparable quality. High-yield securities generally involve greater risk to principal than higher-rated securities. The Fund is non-diversified, which means that it may concentrate its assets in a smaller number of issuers than a diversified fund.
 
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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