PIMCO Unconstrained Tax Managed Bond Fund INSTL (PUTIX)

All data as of 04/30/13, 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
SymbolPUTIX
CUSIP Number 72201P746
Total Fund Assets (in millions) $413.0
Share Class Inception Date 01/30/2009
Dividend Frequency Accrues Daily; Distributes Monthly
Maximum Sales Charge -
Net Operating Expenses 0.7 %
Total Annual Operating Expenses 0.7 %

Daily Price
NAV Day Return
$10.91 $0.01 0.10%
YTD Return
1.58%
As of 05/17/13

Historical Prices

05/14/13

$10.93

05/15/13

$10.92

05/16/13

$10.90
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
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.

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's investment approach may lead to concentrated exposure in areas of the bond market that entail greater risks. The Fund's investments  in below-investment-grade securities carry a higher degree of credit risk, and may be speculative and more volatile.  The Fund's investments in  non-U.S. securities entail specialized risks such as political and economic risks and the risk of currency fluctuations, with emerging markets securities involving not only these risks but possibly more significant speculative qualities. Diversification does not ensure a profit or eliminate the risks. The Fund may use derivative instruments. 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 those instruments. Income from the Fund may be subject to federal and state income taxes.

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.


CLICK TO VIEW OUR BUSINESS CONTINUITY PLAN, PROXY VOTING POLICIES AND PROCEDURES, OR OUR PRIVACY POLICY.