PIMCO Floating Income Fund A (PFIAX)

All data as of 04/30/13, unless otherwise indicated.
PIMCO
Objective
Seeks maximum current yield consistent with prudent investment management
Primary Portfolio
Variable and floating-rate securities and their economic equivalents (0-1 yr. avg. duration)
At a Glance
SymbolPFIAX
CUSIP Number 722005162
Total Fund Assets (in millions) $4,487.8
Share Class Inception Date 7/30/2004
Dividend Frequency Accrues Daily; Distributes Monthly
Maximum Sales Charge 2.25%
Net Operating Expenses 0.95 %
Total Annual Operating Expenses 0.95 %

Daily Price
NAV Day Return
$9.07 $0.00 0.01%
YTD Return
2.92%
As of 05/22/13

Historical Prices

05/17/13

$9.07

05/20/13

$9.07

05/21/13

$9.07
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 $100,000 2.25%
$100,000 but under $250,000 1.25%
$250,000+ 0.00%
Fund Overview
Capturing global credit opportunities while minimizing interest rate exposure

PIMCO Floating Income Fund invests across a wide variety of global credit sectors, while concurrently seeking to minimize interest rate risk through exposure to floating income. It can serve as a complement to traditional core bond holdings.


Why Invest In This Fund
Portfolio positioning in a rising rate environment

The fund aims to generate a floating rate of income, which can provide enhanced return potential and a cushion during a rising interest rate environment. Floating rate securities also tend to have low correlations to other asset classes and an inverse correlation to U.S. Treasuries, which can help diversify an overall portfolio. It’s important to note that the fund will tend to do less well in a declining rate environment and that diversification does not assure a profit or protect against loss.


Access to a broad credit market opportunity set

The portfolio’s floating rate exposure is diversified across global credit sectors, including investment- and below-investment-grade bonds. Many of these sectors have historically been less sensitive to, or even benefited from, rising interest rates; lower-rated bonds carry greater default risks than higher-rated bonds, however. The fund’s management team takes a flexible approach to maximizing total return potential, tactically shifting allocations to take advantage of changing market and economic conditions.


Supported by PIMCO’s broad expertise

PIMCO has been a pioneer in fixed income investing for four decades, with expertise across virtually every sector of the bond market. Our time-tested investment process combines our informed, top-down global economic outlook with rigorous bottom-up credit research and risk management, providing investors with access to PIMCO’s best ideas across multiple fixed income sectors.

View All Fund Literature

Managers

Curtis Mewbourne

Mr. Mewbourne is a managing director and head of portfolio management for PIMCO's New York office. As a generalist portfolio manager, he manages institutional accounts and mutual funds across a wide range of strategies. Mr. Mewbourne serves as a member of the global operating committee, the PM management group and the PIMCO Foundation investment committee. Prior to joining PIMCO in 1999, he was a bond trader at Salomon Brothers and at Lehman Brothers. Mr. Mewbourne was nominated for Morningstar's Fixed Income Manager of the Year award in 2010. He has 21 years of trading and portfolio management experience. He holds an engineering degree in computer science from the University of Pennsylvania.

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 Fund will invest under normal circumstances its net assets in a diversified portfolio of variable and floating-rate securities and securities with durations of less than or equal to one year. Variable and floating-rate securities generally pay interest at rates that adjust whenever a specified interest rate changes and/or reset on predetermined dates (such as the last day of a month or calendar quarter). The Fund may invest its assets in high yield securities rated below investment grade.  In addition, the Fund may invest, without limit, in emerging market securities and may invest in securities denominated in foreign currencies. 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. 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. Investing in non-U.S. securities may entail greater risk due to foreign economic and political developments. 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 these instruments.
 
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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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