PIMCO Emerging Multi-Asset Fund INSTL (PEAWX)

All data as of 04/30/13, unless otherwise indicated.
PIMCO
Objective
The Fund seeks maximum total return, consistent with prudent investment management
Primary Portfolio
PIMCO funds (except for All Asset, All Asset All Authority and RealRetirement funds), other affiliated or unaffiliated funds, fixed income instruments, equities and other instruments.
At a Glance
SymbolPEAWX
CUSIP Number 72201T805
Total Fund Assets (in millions) $75.8
Share Class Inception Date 4/12/2011
Dividend Frequency Annually
Maximum Sales Charge -
Net Operating Expenses 1.36 %
Total Annual Operating Expenses 2.18 %

Daily Price
NAV Day Return
$9.53 $0.03 0.32%
YTD Return
2.36%
As of 05/20/13

Historical Prices

05/15/13

$9.51

05/16/13

$9.48

05/17/13

$9.50
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 comprehensive emerging markets asset allocation solution

In an effort to increase returns and diversify their developed markets exposure, investors are increasingly making emerging markets (EM) a strategic part of their overall investment portfolios. Designed to be a “one-stop” EM solution, PIMCO Emerging Multi-Asset Fund offers actively managed exposure across the range of EM asset classes within a comprehensive risk management framework.


Why Invest In This Fund

Incorporates tactical asset allocation driven by PIMCO’s macroeconomic views

As relative value shifts across EM asset classes, PIMCO will dynamically adjust the fund’s allocation mix. These top-down asset allocation decisions are based on PIMCO’s forward-looking macroeconomic views and are implemented using a risk-factor-based approach, which we believe allows for better targeting of desired risk exposures that exist within the various asset classes.


Explicit tail risk hedging

In an interconnected and turbulent global economy that is likely to experience continued periods of market stress, PIMCO believes that tail-risk hedging is essential for preserving and enhancing long-term portfolio returns. To that end, the fund employs an array of hedging strategies designed to help limit losses during large and unanticipated market downturns.


Seeks excess return potential through intensive, bottom-up research

The fund’s top-down investment process is complemented by PIMCO’s, bottom-up analysis within EM equities, debt and currencies. This best-in-class fundamental research is used to identify security selection opportunities to add value within each EM asset class, recognizing the heterogeneous nature of countries and companies within the universe.

View All Fund Literature

Managers

Curtis Mewbourne

Mr. Mewbourne is a managing director and head of portfolio management for PIMCO's New York office. As a generalist portfolio manager, he manages institutional accounts and mutual funds across a wide range of strategies. Mr. Mewbourne serves as a member of the global operating committee, the PM management group and the PIMCO Foundation investment committee. Prior to joining PIMCO in 1999, he was a bond trader at Salomon Brothers and at Lehman Brothers. Mr. Mewbourne was nominated for Morningstar's Fixed Income Manager of the Year award in 2010. He has 21 years of trading and portfolio management experience. He holds an engineering degree in computer science from the University of Pennsylvania.

Masha Gordon, CFA

Ms. Gordon is an executive vice president in the London office and leads the emerging markets equity portfolio management team. Prior to joining PIMCO in September 2010, she was a managing director, portfolio manager and head of global emerging markets equity strategy at Goldman Sachs Asset Management. Ms. Gordon served as a lead portfolio manager for the Goldman Sachs Emerging Markets Equity Fund from 2003-2010 and a co-lead portfolio manager for the Goldman Sachs BRIC Fund from 2006-2010. In total, she helped oversee more than $8 billion in investment assets. Earlier in her career, Ms. Gordon was a research analyst covering consumer, telecom and resource stocks in emerging markets. Before joining the financial industry, Ms. Gordon was a reporter for the Moscow bureau of "The Washington Post". She has 14 years of investment experience and holds a master of arts degree in law and diplomacy from the Fletcher School of Law and Diplomacy at Tufts University. She holds a bachelor's degree in political science from the University of Wisconsin.

Michael A. Gomez

Mr. Gomez is a managing director in the Newport Beach office, a portfolio manager and co-head of the emerging markets portfolio management team. Prior to joining PIMCO in 2003, he was responsible for market making and proprietary trading of emerging market bonds at Goldman Sachs. Prior to that, he spent a year in Colombia serving as a financial consultant to the Ministry of Finance and Public Credit. Mr. Gomez was named one of the rising stars of mutual funds by Institutional Investor News (2009). He is chairman of the oversight committee for the Markit GEMX emerging markets indices and also serves on other committees pertaining to emerging markets. He has 18 years of investment experience and holds an MBA from the Wharton School of the University of Pennsylvania, where he also received his undergraduate degree.

Ramin Toloui

Mr. Toloui is an executive vice president in the Singapore office and global co-head of emerging markets portfolio management. Prior to joining PIMCO in 2006, Mr. Toloui spent seven years in the international division of the U.S. Department of Treasury, including as the director of the Office of the Western Hemisphere, managing a team of economists and advising senior U.S. government officials on financial policies in Latin America. He previously served as senior advisor to the Under Secretary for International Affairs during the crises in Brazil, Uruguay and Turkey in 2001-2003. He has 14 years of international finance experience and holds an undergraduate degree from Harvard University and a master's degree in international relations from Oxford University, where he was a Rhodes Scholar.

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 invests in other PIMCO funds and performance is subject to underlying investment weightings which will vary. Holdings are subject to change. The Fund's Top Ten Holdings solely reflect long positions. Securities sold short, derivatives, cash and cash equivalents are not taken into consideration. Long positions for debt (excluding cash equivalents, which generally mean investment grade debt instruments with durations of one year or less) and equity are calculated separately, and in each case, total equity holdings or total debt holdings of an issuer may be aggregated into separate line items. Other than the Fund's initial Top Ten Holdings report, newly initiated holdings will be withheld for the first 60 days unless the issuer has been previously disclosed in an annual-, semi-annual report or reported to the SEC on Form N-Q. Top Ten Holdings generally are shown as of the last day of each month (with a 10 business day delay) but may be delayed provided it is in the best interest of the Fund. 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. 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. The Fund is non-diversified, which means that it may concentrate its assets in a smaller number of issuers than a diversified fund. The value of fixed income securities contained in the fund can be impacted by changes in interest rates. Bonds with longer durations tend to be more sensitive and more volatile than securities with shorter durations; bond prices generally fall as interest rates rise.

In addition, the PIMCO Emerging Multi Asset Fund invests in other funds and performance is subject to underlying investment weightings, which will vary. The cost of investing in the fund will generally be higher than the cost of investing in a fund that invests directly in individual stocks and bonds. The fund is non-diversified, which means that it may invest its investments 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.


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