PIMCO Floating Income Fund INSTL (PFIIX)

PIMCO
Objective
Seeks maximum current yield consistent with prudent investment management
Primary Portfolio
Variable and floating-rate securities and their economic equivalents (0-1 yr. avg. duration)
At a Glance
SymbolPFIIX
CUSIP Number 722005170
Total Fund Assets (in millions) $758.8
Share Class Inception Date 7/30/2004
Dividend Frequency Accrues Daily; Distributes Monthly
Maximum Sales Charge -
Net Operating Expenses 0.55 %

Daily Price

NAV Day Return
$8.39 -$0.01 -0.10%
YTD Return
3.95%
As of 05/26/15

Historical Prices

05/20/15

$8.38

05/21/15

$8.38

05/22/15

$8.40

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.
A new Class A breakpoint schedule took effect on 10/1/13, please see the prospectus for details.
Fund Overview
Generating income while minimizing interest rate exposure

The fund invests across a wide variety of global credit sectors, while concurrently seeking to minimize interest rate risk through active duration management. It can serve as a complement to traditional core bond holdings.


Why Invest In This Fund
Portfolio positioning in a rising rate environment

The fund aims to generate a floating rate of income and maximize risk-adjusted returns by investing in a diversified portfolio of global credit issuers; it also holds short-duration securities and other duration management instruments to target a total duration of less than one year.


Access to a broad, global opportunity set

The fund’s highly diversified portfolio includes investment-grade and below-investment-grade corporate bonds, as well as emerging market securities. Many of these sectors have historically been less sensitive to, or have even benefited from, rising interest rates; lower-rated bonds carry greater default risks than higher-rated bonds, however.


Supported by PIMCO’s global expertise

The fund’s investment team leverages a time-tested investment process that combines PIMCO’s top-down global economic outlook with rigorous bottom-up research performed by a team of more than 50 credit analysts in offices around the globe.


Our Expertise

Since 2004, the fund has been managed to produce attractive income and long-term capital appreciation while controlling downside volatility. The investment team takes a flexible, relative value-oriented approach to investing, tactically shifting allocations to take advantage of changing market and economic conditions.

Managers

Curtis Mewbourne

Mr. Mewbourne is a managing director and generalist portfolio manager. He manages institutional accounts and mutual funds across a wide range of strategies. Prior to joining PIMCO in 1999, he was a bond trader at Salomon Brothers and at Lehman Brothers. He has 22 years of trading and portfolio management experience and holds an engineering degree in computer science from the University of Pennsylvania.

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 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. 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. Diversification does not ensure against loss.

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.


PIMCO