PIMCO GNMA Fund INSTL (PDMIX)

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
Short to intermediate maturity mortgage-related fixed income securities (1-7 yr. avg. duration)
At a Glance
SymbolPDMIX
CUSIP Number 693391450
Total Fund Assets (in millions) $1,669.3
Share Class Inception Date 07/31/1997
Dividend Frequency Accrues Daily; Distributes Monthly
Maximum Sales Charge -
Net Operating Expenses 0.5 %
Total Annual Operating Expenses 0.5 %

Daily Price
NAV Day Return
$11.42 -$0.02 -0.17%
YTD Return
-0.55%
As of 05/20/13

Historical Prices

05/15/13

$11.46

05/16/13

$11.49

05/17/13

$11.44
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
High quality Ginnie Mae securities offering attractive total return potential

Mortgage-backed securities (MBS) are one of the largest and most liquid sectors of the global bond market. The PIMCO GNMA Fund offers attractive risk-adjusted return potential through an actively managed, relative value approach within this high-quality universe, investing at least 80% of its assets in U.S. government-guaranteed GNMA securities.


Why Invest In This Fund
A core investment

With its high average credit quality, this fund can make a solid addition to nearly any investor’s bond portfolio. PIMCO’s value oriented, risk conscious approach seeks to deliver consistent excess returns that are uncorrelated to traditional equity and bond markets.


Attractive return potential vs. Treasuries

GNMA securities are backed by the same full faith and credit guarantee offered by U.S. Treasury securities, yet typically provide higher yields to compensate for prepayment risk – the risk that mortgage borrowers can pay off their mortgages at any time.


Over 30 years of mortgage experience

Building on PIMCO’s experience in the mortgage sector and time-tested investment process, the fund manager seeks to generate excess returns over time by using relative value trading strategies to exploit inefficiencies in the mortgage market.

View All Fund Literature

Managers

Michael Cudzil

Mr. Cudzil is an executive vice president, portfolio manager and mortgage specialist in the Newport Beach office. Prior to joining PIMCO in 2012, he worked as a managing director and head of pass-through trading at Nomura. Mr. Cudzil previously held similar roles at Bank of America and Lehman Brothers, as well as a senior trading position at Salomon Brothers. He has 15 years of investment experience and holds a bachelor's degree in political science from the University of Pennsylvania.

Daniel H. Hyman

Mr. Hyman is an executive vice president in the Newport Beach office and a portfolio manager focusing on mortgage-backed securities and derivatives. Prior to joining PIMCO in 2008, Mr. Hyman was a vice president at Credit Suisse where he traded Agency pass-throughs. He has 10 years of investment experience and holds an undergraduate degree from Lehigh 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 word about risk: Sovereign securities are generally backed by the issuing government, obligations of U.S. Government agencies and authorities are supported by varying degrees but are generally not backed by the full faith of the U.S. Government; portfolios that invest in such securities are not guaranteed and will fluctuate in value. Mortgage and asset-backed securities may be sensitive to changes in interest rates, subject to early repayment risk, and their value may fluctuate in response to the market’s perception of issuer creditworthiness;while generally supported by some form of government or private guarantee there is no assurance that private guarantors will meet their obligations. 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. 

 

The credit quality of a particular security or group of securities does not ensure the stability or safety of the overall portfolio.
 
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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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