PIMCO EqS Pathfinder Fund INSTL (PTHWX)

All data as of 04/30/13, unless otherwise indicated.
PIMCO
Objective
The Fund seeks capital appreciation.
Primary Portfolio
Equity securities, including common and preferred stock, of issuers that PIMCO believes are undervalued
At a Glance
SymbolPTHWX
CUSIP Number 72201T102
Total Fund Assets (in millions) $2,017.4
Share Class Inception Date 4/14/2010
Dividend Frequency Annually
Maximum Sales Charge -
Net Operating Expenses 0.89 %
Total Annual Operating Expenses 1.08 %

Daily Price
NAV Day Return
$11.13 -$0.01 -0.09%
YTD Return
7.33%
As of 05/24/13

Historical Prices

05/21/13

$11.27

05/22/13

$11.19

05/23/13

$11.14
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 deep-value stock fund with global reach

Historically, markets have tended to overreact to new information or shorter-term trends – and frequently undervalue stocks and companies that have demonstrated long-term potential. This actively managed global deep-value fund is designed to invest primarily in undervalued stocks, targeting compelling long-term returns while seeking to mitigate downside risk. Opportunistically, the fund pursues value-oriented merger arbitrage and distressed debt situations, and also engages in tactical strategies such as currency hedging.


Why Invest In This Fund
A deep-value approach with a focus on downside protection

By looking for stocks trading at significant discounts to their intrinsic values, the fund may provide the opportunity for price appreciation even as it seeks to mitigate risk by limiting portfolio losses during market downturns. Of course, value securities may not increase in price as anticipated, or may decline further in value.


The flexibility to pursue other value-oriented opportunities

The fund is benchmark-agnostic and has the flexibility to pursue value-oriented merger arbitrage and distressed debt opportunities, plus select tactical strategies such as currency hedging. These approaches may involve special risks: pending mergers may not be completed on time or on favorable terms; investing in distressed debt companies is speculative and may carry credit, issuer and liquidity risks; and currencies can fluctuate in value.


Managed by seasoned global value experts

The fund is led by two highly regarded investors, Anne Gudefin and Charles Lahr, who have over 36 years of combined value investing experience. In addition to their time-tested approach to security analysis and stock selection, they benefit from PIMCO’s insights into the factors that drive economies and businesses. They are also able to utilize our highly regarded capabilities in credit research and risk management across the capital structure.

View All Fund Literature

Managers

Anne Gudefin, CFA

Ms. Gudefin is an executive vice president in the London office and a global equity portfolio manager. Prior to joining PIMCO in January 2010, she was a senior vice president, portfolio manager and research analyst at the Mutual Series Group of Franklin Templeton Investments; she served as a co-portfolio manager for the Franklin Mutual Global Discovery Fund from 2005 to 2009 and as portfolio manager for the Franklin Mutual Quest Fund from 2003 to 2009. In total, Ms. Gudefin helped oversee more than $25 billion in investment assets. Earlier in her career, she was a research analyst covering European equities at Perry Capital. In July 2009, Ms. Gudefin was named as one of “The World’s Greatest Investors” by SmartMoney Magazine. She has 23 years of investment and financial services experience and holds a bachelor's degree from IEP Paris and an MBA from Columbia Business School.

Charles M. Lahr, CFA

Mr. Lahr is a managing director in the New York office and a global equity portfolio manager. He is also head of the New York equity desk. Prior to joining PIMCO in 2009, he was a portfolio manager at the Mutual Series Group of Franklin Templeton Investments where he managed the Franklin Mutual Global Discovery Fund and the Mutual Financial Services Fund. In total, Mr. Lahr helped oversee more than $20 billion in investment assets. Earlier in his career, he was a member of the fund management team for the Mutual European and Mutual Beacon Funds and was an international equities research analyst with the State of Wisconsin Investment Board. He has 19 years of investment and financial services experience and holds an MBA and a bachelor's degree in business administration from the University of Iowa.

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:
Equities may decline in value due to both real and perceived general market, economic, and industry conditions. Investments in value securities involve the risk the market’s value assessment may differ from the manager and the performance of the securities may decline. Investing in securities of smaller companies tends to be more volatile and less liquid than securities of larger companies. Investing in distressed companies (both debt and equity) is speculative and may be subject to greater levels of credit, issuer and liquidity risks, and the repayment of default obligations contains significant uncertainties; such companies may be engaged in restructurings or bankruptcy proceedings. 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. Investments in companies engaged in mergers, reorganizations, or liquidations may involve special risks as pending deals may not be completed on time or on favorable terms. 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.

Intrinsic value is the actual value of a company or an asset based on an underlying perception of its true value including all aspects of the business, in terms of both tangible and intangible factors. This value may or may not be the same as the current market value.

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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