PIMCO Senior Floating Rate Fund INSTL (PSRIX)

All data as of 04/30/13, unless otherwise indicated.
PIMCO
Objective
The Fund seeks a high level of current income, consistentwith prudent investment management
At a Glance
SymbolPSRIX
CUSIP Number 72201W790
Total Fund Assets (in millions) $2,681.8
Share Class Inception Date 4/29/2011
Dividend Frequency Accrues Daily; Distributes Monthly
Maximum Sales Charge -
Net Operating Expenses 0.8 %
Total Annual Operating Expenses 0.8 %

Daily Price
NAV Day Return
$10.40 $0.00 0.03%
YTD Return
3.04%
As of 05/17/13

Historical Prices

05/14/13

$10.40

05/15/13

$10.40

05/16/13

$10.40
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
Income and diversification potential

Senior secured floating rate loans, which offer a floating rate of income, may provide investors with attractive risk-adjusted return potential, particularly during a rising rate environment. PIMCO Senior Floating Rate Fund offers actively managed exposure to this unique asset class.


Why Invest In This Fund
An attractive risk/return profile

Floating rate loans offer higher-potential credit premium than investment grade bonds, and tend to have lower volatility than high yield bonds. The fund emphasizes higher quality loans, which typically have a higher recovery rate and lower risk of default than lower-quality, unsecured debt.


Minimal interest rate exposure

Because rates on bank loans typically float, or shift to prevailing interest rates, they may provide a hedge in a rising rate environment, as well as an opportunity to enhance returns with increased credit exposure.


Time-tested management experience

PIMCO has managed floating rate bank loan portfolios since 1996. Underpinning portfolio construction is our time-tested investment process, which combines our top-down macroeconomic analysis and rigorous credit research. Our credit team scrutinizes company fundamentals, seeking to avoid those with weakening credit profiles, while identifying those whose balance sheets we believe are improving.

View All Fund Literature

Managers

Elizabeth MacLean

Ms. MacLean is an executive vice president and bank loan portfolio manager in the Newport Beach office. Prior to joining PIMCO in 2011, she was a partner and bank loan portfolio manager at Lord Abbett, where she oversaw the firm’s loan portfolio management team and managed structured products. Previously, she was a managing director and portfolio manager for leveraged loan investments at Nomura Corporate Research and Asset Management. Before that, she was vice president and portfolio manager at Pilgrim Investments and also held senior corporate lending officer roles at the Bank of Hawaii and the Bank of New York. She has 24 years of investment experience and holds an MBA from the W.P. Carey School of Business at Arizona State University. She received an undergraduate degree from Vanderbilt 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. Bank loans are often less liquid than other types of debt instruments. There is no assurance that the liquidation of any collateral from a secured bank loan would satisfy the borrower’s obligation, or that such collateral could be liquidated. 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. 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. 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. 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 value of most bond funds and fixed income securities are impacted by changes in interest rates. Bonds and bond funds with longer durations tend to be more sensitive and more volatile than securities with shorter durations; bond prices generally fall as interest rates rise.

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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