PIMCO CommoditiesPLUS Strategy Fund INSTL (PCLIX)

All data as of 04/30/13, unless otherwise indicated.
PIMCO
Objective
The Fund seeks total return which exceeds that of the Credit Suisse Commodity Benchmark consistent with prudent investment management.
Primary Portfolio
Commodity-linked derivative instruments backed by an actively managed, low volatility portfolio of fixed income instruments.
At a Glance
SymbolPCLIX
CUSIP Number 72201P175
Total Fund Assets (in millions) $4,479.6
Share Class Inception Date 5/28/2010
Dividend Frequency Quarterly
Maximum Sales Charge -
Net Operating Expenses 0.74 %
Total Annual Operating Expenses 0.88 %

Daily Price
NAV Day Return
$10.73 $0.06 0.56%
YTD Return
-1.83%
As of 05/20/13

Historical Prices

05/15/13

$10.60

05/16/13

$10.64

05/17/13

$10.67
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
Capture the diversification and inflation-hedging potential of commodities

Designed to capture the inflation-hedging potential of a commodities index backed with a portfolio of high quality, short-term bonds, the fund offers broad participation in the return of commodities while harnessing PIMCO’s expertise in seeking positive excess return.


Why Invest In This Fund
Employs an index-enhanced strategy

Combining the benefits of commodities with the experience of PIMCO as an active manager of commodities and fixed income collateral, the fund seeks to outperform the Credit Suisse Commodity Benchmark by actively managing both the commodities exposure and the underlying short-term fixed income collateral portfolio.


A carefully chosen index

The fund offers exposure to the performance potential of the Credit Suisse Commodity Benchmark, a proxy for the broad commodities universe. The index offers a monthly rebalancing feature that relies on clearly defined rules to ensure that no single commodity or sector dominates, which may enhance returns and reduce volatility.


Diversification potential of commodities

Because commodities are “real” assets like oil, metal or grain, they are sensitive to different economic factors and tend to perform differently than stocks and bonds, which can enhance overall portfolio diversification. Of course, diversification does not guarantee a profit or protect against loss.

View All Fund Literature

Managers

Nicholas J. Johnson

Mr. Johnson is an executive vice president in the Newport Beach office and a portfolio manager focusing on commodities. He joined PIMCO in 2004 and previously managed the portfolio analyst group. Prior to joining PIMCO, he worked at NASA's Jet Propulsion Laboratory, developing Mars missions and new methods of autonomous navigation. In 2012 he co-authored “Intelligent Commodity Indexing,” published by McGraw-Hill. He has eight years of investment experience and holds a master’s degree in financial mathematics from the University of Chicago and an undergraduate degree from California Polytechnic State 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.

A word about risk:
Fixed income investments are subject to interest rate risk; their value will normally decline as interest rates rise. The Fund’s investments in commodity-linked derivative instruments may subject the Fund to greater volatility than investments in traditional securities. The value of commodity-linked derivative instruments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity. Bonds are subject to interest rate risk; their value will normally decline as interest rates rise. Bonds with a longer duration (a measure of the expected life of a security) tend to be more sensitive to changes in interest rates than securities with shorter durations. Non-U.S. securities involve the risks of currency fluctuation and political and economic change—risks that may be enhanced in emerging markets. High-yield or “junk” bonds involve a high level of market risk – the bonds may decrease in value, and credit risk – the bond issuers may default on their payments. Mortgage-backed securities involve the risk of an increase in early repayments when interest rates fall and of a decrease in repayments when interest rates rise. Derivative securities carry market, credit and liquidity risk – the difficulty of selling securities in a timely manner; certain derivatives involve leverage which could result in a loss substantially greater than the amount invested in the derivative itself.

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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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