PIMCO High Yield Municipal Bond Fund A (PYMAX)

All data as of 05/31/13, unless otherwise indicated.



 pimco
PIMCO
Maturity (%)
as of 05/31/13
<1 Year 12.00
1-3 Years 1.00
3-5 Years -2.00
5-10 Years 34.00
10-20 Years 37.00
20+ Years 18.00
Effective Maturity (yrs) 12.52
Duration
as of 05/31/13
Effective Duration (yrs) 7.54

indicates an increase since the prior month.

indicates a decrease since the prior month

indicates no change since the prior month.

Top Sectors (%)
as of 05/31/13
State/Local Government 1.00
Pre-Refunded 1.00
Education Revenue 11.00
Hospital Revenue 19.00
Housing Revenue 1.00
Ind Dev/Pollution Ctrl 19.00
Lease Revenue 4.00
Power Revenue 3.00
Resource Recovery 0.00
Special Tax 6.00
Transportation 8.00
Water & Sewer 1.00
Tobacco 16.00
Cash Muni 0.00
Other Muni 2.00
* Government-Related -3.00
Mortgage 0.00
Invest. Grade Credit 0.00
High Yield Credit 0.00
Non-U.S. Developed 0.00
Emerging Markets 0.00
Other 0.00
** Net Cash & Equivalents 11.00
Risk (Trailing 3 Years)
as of 05/31/13
Beta 1.08
Standard Deviation 4.52
R2 0.84

 
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.

*"Gov't and Gov't Related" may include nominal and inflation-protected Treasuries, Agencies, interest rate swaps, Treasury futures and options, and FDIC-guaranteed corporate securities.

**"Net Cash & Equivalents" is defined as any investment grade security with duration less than one year. Periodically these sectors may not be represented in the fund. Sectors are subject to change.
 
A word about risk:
Investing in the bond market is subject to certain risks including market, interest-rate, issuer, credit, and inflation risk; investments may be worth more or less than the original cost when redeemed. 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. 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. Investors will, at times, incur a tax liability. Income from municipal bonds may be subject to state and local taxes and at times the alternative minimum tax. Equities may decline in value due to both real and perceived general market, economic, and industry conditions. 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. The Fund is non-diversified, which means that it may invest its assets in a smaller number of issuers than a diversified fund.

References to specific sectors, securities or issuers are for illustrative purposes only. All holdings are subject to change daily. All share classes have the same portfolio but different expenses.

Risk Section Source: IDS GmbH-Analysis and Reporting Services, an investment analysis and reporting service which is a subsidiary of Allianz SE. This section is based on the actual share class and measures volatility. The overall market is represented by the unmanaged index which is the fund’s official benchmark in its prospectus. Beta measures the market related volatility of a portfolio. The beta of the market is 1 by definition. A beta greater than 1 indicates that a portfolios market risk is greater than the overall markets, while a beta less than 1 indicates a lower market risk. It is important to note that having a low market risk does not necessarily imply low volatility. A portfolio may have a low beta while experiencing volatility due to factors independent of the market. R-squared measures the percentage of a portfolio's movements that are explained by movements in the overall market. Standard deviation is an absolute measure of volatility measuring dispersion about an average which, for a mutual fund, depicts how widely the returns varied over a certain period of time.  Duration is a measure of a portfolio’s price sensitivity expressed in years. 
 
Duration is a measure of a portfolio’s price sensitivity expressed in years. Effective duration is the duration for a bond with an embedded option when the value is calculated to include the expected change in cash flow caused by the option as interest rates change.

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