PIMCO Emerging Markets Bond Fund INSTL (PEBIX)

PIMCO
Objective
Seeks maximum total return, consistent with preservation of capital and prudent investment management
Primary Portfolio
Fixed income instruments issued in emerging market countries
At a Glance
SymbolPEBIX
CUSIP Number 693391559
Total Fund Assets (in millions) $2,424.4
Share Class Inception Date 07/31/1997
Dividend Frequency Accrues Daily; Distributes Monthly
Maximum Sales Charge -
Net Operating Expenses 0.83 %

Daily Price

NAV Day Return
$10.52 $0.02 0.24%
YTD Return
5.80%
As of 05/22/15

Historical Prices

05/19/15

$10.47

05/20/15

$10.47

05/21/15

$10.50

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
Risk-managed exposure to emerging markets

PIMCO Emerging Markets Bond Fund takes a value-focused approach to accessing some of the world’s fastest growing economies, with actively managed investments in U.S. dollar-denominated EM debt.


Why Invest In This Fund
A value-focused approach

The fund aims to capture the higher yield and growth potential of emerging markets (EM) while moderating the heightened risks of the asset class. It pursues this goal by deploying PIMCO’s top-down/bottom-up process to carefully research and select intermediate-term, U.S. dollar-denominated bonds issued by those countries.


Enhanced portfolio diversification

EM bonds have had relatively 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.


Improving EM fundamentals

As advanced economies continue to expand their balance sheets, many emerging countries have low or declining debt-to-GDP ratios while still providing higher yields than their developed market counterparts. PIMCO’s deep EM expertise helps the team evaluate prospects for each country and invest selectively for the fund.


Our Expertise

The 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 a time-tested process that combines macroeconomic forecasting with rigorous 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.

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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