PIMCO Emerging Markets Currency Fund INSTL (PLMIX)

PIMCO
Objective
Seeks maximum total return, consistent with preservation of capital and prudent investment management
Primary Portfolio
Currencies or fixed income securities denominated in currencies of non-U.S. countries (0-2 yr. avg. duration)
At a Glance
SymbolPLMIX
CUSIP Number 72201F409
Total Fund Assets (in millions) $6,341.9
Share Class Inception Date 05/31/2005
Dividend Frequency Accrues Daily; Distributes Monthly
Maximum Sales Charge -
Net Operating Expenses 0.85 %

Daily Price

NAV Day Return
$9.35 -$0.03 -0.29%
YTD Return
2.05%
As of 05/22/15

Historical Prices

05/19/15

$9.38

05/20/15

$9.38

05/21/15

$9.38

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
Active exposure to EM currencies

For investors looking to enhance their emerging markets (EM) allocations or hedge against the U.S. dollar, the fund provides actively managed access to a broad range of currencies.


Why Invest In This Fund
Attractive return and hedging potential

The fund invests primarily in currencies of EM countries, and is actively managed to capture the growth potential of their strengthening economies and fiscal reforms. The fund may also serve as a hedge against the U.S. dollar, which is expected to weaken over the long term.


Enhanced portfolio diversification

EM local currency instruments have had low historical correlations with other fixed income assets, such as U.S. Treasuries, and may help enhance overall portfolio diversification. While diversification can reduce risk, it does not guarantee a profit or necessarily protect against loss.


EM and foreign currency expertise

PIMCO has a strong market presence in EM bonds, as well as significant expertise in currency hedging and investment. The fund’s team draws on our global infrastructure and macroeconomic forecasts to evaluate relative country prospects and position for anticipated changes.


Our Expertise

The PIMCO Emerging Markets Currency Fund is managed by Michael Gomez, co-head of PIMCO’s EM team and a professional with nearly two decades of investment experience. The team, strategically located around the world, draws on our time-tested investment process, which combines a top-down outlook with rigorous bottom-up credit research. PIMCO has been managing EM portfolios since 1997.

Managers

Michael A. Gomez

Mr. Gomez is a managing director in the Newport Beach office, a portfolio manager and 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. In addition, Mr. Gomez has served on numerous other committees providing advisory assistance to emerging market countries or a market practitioner’s perspective to index providers. He has 20 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 investment professional 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 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. 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. 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 invest its assets in a smaller number of issuers than a diversified fund.

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.® 2015. 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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