PIMCO Short Asset Investment Fund A (PAIAX)

All data as of 05/31/13, unless otherwise indicated.
PIMCO
Objective
The Fund seeks maximum current income, consistent with daily liquidity
Primary Portfolio
Short-term investment grade bonds (average duration is less than or equal to 1.5 yrs.)
At a Glance
SymbolPAIAX
CUSIP Number 72201U794
Total Fund Assets (in millions) $63.0
Share Class Inception Date 5/31/2012
Dividend Frequency Accrues Daily; Distributes Monthly
Maximum Sales Charge 2.25%
Net Operating Expenses 0.59 %
Total Annual Operating Expenses 0.71 %

Daily Price
NAV Day Return
$10.07 $0.000.00%
YTD Return
0.21%
As of 06/17/13

Historical Prices

06/12/13

$10.06

06/13/13

$10.07

06/14/13

$10.07
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.
Breakpoints
Sales Range (USD)Fee %
Under $100,000 2.25%
$100,000 but under $250,000 1.25%
$250,000+ 0.00%
Fund Overview
Summary

Higher income potential than traditional cash investments

Yields remain compressed, making it difficult for investors to obtain high-quality income without taking on excess risk. PIMCO Short Asset Investment Fund offers higher income potential than traditional cash investments by drawing on multiple high-quality fixed income opportunity sets and PIMCO’s expertise. Unlike money markets, however, the net asset value (NAV) of the fund may fluctuate as the strategy is not managed to maintain a stable NAV.


Why Invest In This Fund
High-quality portfolio

PIMCO Short Asset Investment Fund focuses on high-quality fixed-income sectors, such as U.S. Treasury securities, investment grade credit, and agency mortgage-backed securities, which can help reduce volatility while seeking to provide higher returns than money market strategies.


A choice for conservative investors

The fund maintains a high-quality orientation, and strictly limits the use of high-yield securities to a maximum of 10% and prohibits currency exposure. In addition, the use of derivatives is constrained and both issuer concentration and exposure to ABS and non-agency mortgage-backed securities are limited, making it appropriate for conservative investors.


Expert management

PIMCO has been managing short-term strategies since 1987 and offers a suite of solutions that can meet the needs of investors and DC plan sponsors. Jerome Schneider, the fund’s portfolio manager, is the head of the short-term funding desk and is responsible for supervising all of PIMCO’s short-term investment strategies.


Investment Process

The top-down investment process begins with our annual secular forum where we develop a three- to five-year outlook for the global economy and interest rates. Quarterly meetings are then held to discuss how the outlook applies to upcoming three- to 12-month periods and to forecast specific influencing factors, including interest rate volatility, yield curve movements and credit trends. Taken together, these sessions set the basic portfolio parameters, including duration, yield-curve positioning, sector weightings and credit quality.


Bottom-up strategies, including credit analysis, quantitative research and individual issue selection, are then meshed with the top-down strategies to add value.

Related Materials

Fund Card
View All Fund Literature

Managers

Jerome M. Schneider

Mr. Schneider is a managing director in the Newport Beach office and head of the short-term and funding desk. Prior to joining PIMCO in 2008, Mr. Schneider was a senior managing director with Bear Stearns. There he most recently specialized in credit and mortgage-related funding transactions and helped develop one of the first "repo" conduit financing companies. Additionally, during his tenure at Bear Stearns he held various positions on the municipal and fixed income derivatives trading desks. He has 17 years of investment experience and holds an undergraduate degree in economics and international relations from the University of Pennsylvania and an MBA from the Stern School of Business at New York 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 CDSC may apply for shares redeemed within 18 months of purchase.
 
Annual Report of Proxy Voting Records, Form N-PX »
Quarterly Schedule of Portfolio Holdings, Form N-Q »

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. 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. Entering into short sales includes the potential for loss of more money than the actual cost of the investment, and the risk that the third party to the short sale may fail to honor its contract terms, causing a loss to the portfolio. 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.

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