PIMCO Emerging Markets Full Spectrum Bond Fund INSTL (PFSIX)

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
A broad range of emerging market fixed income assets.
At a Glance
SymbolPFSIX
CUSIP Number 72201U562
Total Fund Assets (in millions) $20.1
Share Class Inception Date 2/25/2013
Dividend Frequency Accrues Daily; Distributes Monthly
Maximum Sales Charge -
Net Operating Expenses 0.99 %
Total Annual Operating Expenses 1.95 %

Daily Price
NAV Day Return
$9.96 -$0.03 -0.29%
Since Inception
0.50%
As of 05/22/13

Historical Prices

05/17/13

$10.03

05/20/13

$10.01

05/21/13

$9.99
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 approach to emerging markets fixed income

PIMCO Emerging Markets Full Spectrum Bond Fund provides investors with a single access point to the full opportunity set of fixed income markets within the emerging economies, including U.S. dollar and local currency-denominated sovereign and corporate bonds as well as local currency exposure. With their strong fundamentals and higher growth rates, we believe emerging markets (EM) offer better return potential—albeit with higher volatility—than most portions of developed country bond markets.


Why Invest In This Fund
Dynamic exposure to EM fixed income

The fund adjusts its exposures to various portions of EM fixed income in real time, based on PIMCO’s evolving assessments of the global economy and markets. The fund’s active management approach combines PIMCO's top-down macroeconomic insights with intensive bottom-up country and corporate credit analysis to identify new opportunities and to adjust its mix of exposures to reflect PIMCO’s preferences among the myriad EM asset classes.


Attractive risk-adjusted return potential

Exposure to local currencies may allow the fund’s managers to take advantage of exchange rate inefficiencies, while exposure to local interest rates may provide higher yields than developed markets. The fund also may benefit from the continued improvement in EM sovereign credit quality along with the superior fundamentals and potential higher yields offered by many EM corporate bonds.


Extensive emerging markets experience

PIMCO’s emerging markets team translates the firm’s global insights and forecasts into positions across external sovereign and corporate debt, local bonds and local currencies. With 17 emerging markets portfolio managers located in Munich, Singapore, Hong Kong and Newport Beach, and 45 credit analysts across the globe, PIMCO is ideally positioned to conduct the frequent on-the-ground research which is critical to investing in EM and to provide risk management 24 hours a day.

View All Fund Literature

Managers

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.
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 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. 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. 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. Equities may decline in value due to both real and perceived general market, economic and industry conditions. 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. Investing in distressed companies (both debt and equity) is speculative and may be subject to greater levels of credit, issuer and liquidity risks, and the repayment of default obligations contains significant uncertainties; such companies may be engaged in restructurings or bankruptcy proceedings. 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. The Fund is non-diversified, which means that it may invest 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