PIMCO Unconstrained Tax Managed Bond Fund A (ATMAX)

All data as of 05/31/13, unless otherwise indicated.
PIMCO
Objective
Seeks maximum long-term after tax return, consistent with preservation of capital and prudent investment management
Primary Portfolio
Broad range of fixed income instruments
At a Glance
SymbolATMAX
CUSIP Number 72201P738
Total Fund Assets (in millions) $429.0
Share Class Inception Date 01/30/2009
Dividend Frequency Accrues Daily; Distributes Monthly
Maximum Sales Charge 3.75%
Net Operating Expenses 1.1 %
Total Annual Operating Expenses 1.1 %

Daily Price
NAV Day Return
$10.74 -$0.02 -0.18%
YTD Return
-0.09%
As of 06/14/13

Historical Prices

06/11/13

$10.80

06/12/13

$10.77

06/13/13

$10.76
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 3.75%
$100,000 but under $250,000 3.25%
$250,000 but under $500,000 2.25%
$500,000 but under $1 million 1.75%
$1 million but under $2,000,001 0.00%*
$2,000,001+ 0.00%*
Fund Overview
An absolute return-oriented bond fund investing without benchmark constraints

PIMCO Unconstrained Tax Managed Bond Fund takes a tax-conscious, flexible approach to capturing global opportunities and managing risk. It strives to actively mitigate downside risk, provide attractive risk-adjusted returns and add diversification to an overall portfolio.


Why Invest In This Fund
Tactically allocates a global opportunity set

Untethered to benchmark-specific guidelines, the fund’s manager has significant latitude to assume more or less risk exposure, based on PIMCO’s economic and market views. The fund has a minimum requirement of 50% of assets invested in municipal bonds, as well as certain investment limitations to maintain its bond-like characteristics.


A unique portfolio complement

The fund seeks to provide many of the benefits associated with a core bond funds such as capital preservation, liquidity and diversification. And like many alternative investments, the fund also pursues absolute positive returns over full market cycles, as well as higher long-term growth potential. Although this strategy may enhance performance, particularly during market declines, it may lag during strong up markets.


Direct expression of our process

Because of the fund’s untethered approach, it can directly express PIMCO’s global macroeconomic views, as well as our rigorous risk management, bottom-up credit analysis and four decades of investment experience.

View All Fund Literature

Managers

Chris Dialynas

Mr. Dialynas is a managing director in the Newport Beach office, a portfolio manager, and a member of PIMCO’s Investment Committee. He has written extensively and lectured on the topic of fixed-income investing. Mr. Dialynas served on the editorial board of The Journal of Portfolio Management and was a member of the Fixed Income Curriculum Committee of the Association for Investment Management and Research. He has 34 years of investment experience and holds an MBA from the University of Chicago Graduate School of Business. He received his undergraduate degree from Pomona College. He joined PIMCO in 1980.

*A CDSC may apply for shares redeemed within 18 months of purchase.
 
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:
Absolute return portfolios may not necessarily fully participate in strong (positive) market rallies. 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. Investing in foreign denominated and/or domiciled securities may involve heightened risk due to currency fluctuations, and economic and political risks, which may be enhanced in emerging markets. 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. 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. Please consult your tax and/or legal counsel for specific tax questions and concerns. Diversification does not ensure against loss.

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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