PIMCO CommoditiesPLUS Strategy Fund INSTL (PCLIX)

All data as of 05/31/13, 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) $4,517.7
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
$10.66 $0.02 0.19%
YTD Return
-2.47%
As of 06/18/13

Historical Prices

06/13/13

$10.59

06/14/13

$10.66

06/17/13

$10.64
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:
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. The fund will seek exposure to commodities through commodity-linked derivatives and through the PIMCO Cayman Commodity Fund III Ltd., a wholly-owned subsidiary of the Fund organized under the laws of the Cayman Islands (the “Subsidiary”). The Subsidiary is advised by PIMCO, and has the same investment objective as the Fund. The Subsidiary (unlike the Fund) may invest without limitation in commodity-linked swap agreements and other commodity-linked derivative instruments. 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. 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. 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. Equities may decline in value due to both real and perceived general market, economic, and industry conditions. Derivatives and commodity-linked 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. Commodity-linked derivative instruments may involve additional costs and risks such as changes in commodity index volatility or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. Investing in derivatives could lose more than the amount invested. The Fund is non-diversified, which means that it may concentrate its assets in a smaller number of issuers than a diversified fund.

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.

PIMCO