PIMCO Low Duration Fund II INSTL (PLDTX)

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- and intermediate-term fixed income securities with quality and foreign issuer restrictions
At a Glance
SymbolPLDTX
CUSIP Number 693390791
Total Fund Assets (in millions) $731.4
Share Class Inception Date 10/31/1991
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
$9.98 -$0.01 -0.09%
YTD Return
0.04%
As of 05/24/13

Historical Prices

05/21/13

$10.00

05/22/13

$9.99

05/23/13

$9.99
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
A conservative core bond investment

Focused on shorter-term securities, PIMCO Low Duration Fund II is a solid core bond investment that provides broad market exposure. Following PIMCO’s signature total return philosophy and process, it employs a variety of strategies to enhance return potential and help reduce overall portfolio volatility. Note that the fund is not designed for short-term trading.


Why Invest In This Fund
Greater return potential than shorter-term bond funds

Because of its 1- to 3-year duration range, the fund typically offers a yield advantage over money market or short-term bond funds. The fund also uses multiple value-added strategies – such as credit analysis and sector emphasis – in an effort to enhance returns and manage volatility. This approach has helped the fund deliver solid short- and long-term results.


Lower potential volatility than longer-term bond funds

Historically, the fund has been less volatile than intermediate- or long-term bond funds. In addition, the fund has generated a positive return over every 2-year period in its history. Of course, the fund may not generate the return potential of longer-term bonds and will also be more volatile than money market funds.


Managed by one of the world’s foremost fixed income investors

The fund’s manager, Bill Gross, founder and co-CIO of PIMCO, is widely acknowledged as one of the world’s most successful fixed income investors. He and his team were named Morningstar Fixed Income Manager of the Year (1998, 2000 and 2007), and Morningstar Fixed Income Manager of the Decade for 2000–2009.

Related Materials

Fund Card
Fund Fact Sheet
View All Fund Literature

Managers

Bill Gross, CFA

Mr. Gross is a founder, managing director and co-CIO of PIMCO based in the Newport Beach office. He has been with PIMCO since he co-founded the firm in 1971 and oversees the management of more than $1.9 trillion of securities. He is the author of numerous articles on the bond market, as well as the book, "Everything You’ve Heard About Investing is Wrong," published in 1997. Among the awards he has received, Morningstar named Mr. Gross and his investment team Fixed Income Manager of the Decade for 2000-2009 and Fixed Income Manager of the Year for 1998, 2000, and 2007 (the first three-time recipient). He received the Bond Market Association’s Distinguished Service Award in 2000 and became the first portfolio manager inducted into the Fixed Income Analysts Society's hall of fame in 1996. Mr. Gross is a seven-time Barron's Roundtable panelist (2005-2011), appearing in the annual issue featuring the industry's top investment experts, and he received the Money Management Lifetime Achievement Award from Institutional Investor magazine in 2011. In a survey conducted by Pensions and Investments magazine in 1993, he was recognized by his peers as the most influential authority on the bond market in the U.S. He has 43 years of investment experience and holds an MBA from the Anderson School of Management at the University of California, Los Angeles. He received his undergraduate degree from Duke 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.

The Morningstar Fund Manager of the Decade award is based on risk-adjusted results over the past 10 years (2000-2009), and other considerations, including the strength of the manager, strategy, and stewardship. The Morningstar Fixed Income Fund Manager of the Year award (1998, 2000, 2007) is based on the strength of the manager, performance, strategy, and firm's stewardship. The Bond Market Associate Distinguished Service (2000) award recognizes the accomplishments of individuals who have had a significant impact on the bond market through their service as public officials as or as members of the private sector. The Money Management Lifetime Achievement award (2011) is based on market intelligence, performance data and risk management information received from the industry following a public call for nominations. The winner was selected by the editors of the magazine based on the results of a survey of U.S. institutional investors.

A word about risk:
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.

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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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