PIMCO Global Advantage Strategy Bond Fund INSTL (PSAIX)

PIMCO
Objective
Seeks total return which exceeds that of its benchmarks, consistent with prudent investment management
Primary Portfolio
U.S. and non-U.S. fixed income instruments
At a Glance
SymbolPSAIX
CUSIP Number 72201M446
Total Fund Assets (in millions) $1,640.1
Share Class Inception Date 02/05/2009
Dividend Frequency Accrues Daily; Distributes Monthly
Maximum Sales Charge -
Net Operating Expenses 0.7 %

Daily Price

NAV Day Return
$10.18 $0.02 0.23%
YTD Return
-3.04%
As of 07/02/15

Historical Prices

06/29/15

$10.21

06/30/15

$10.20

07/01/15

$10.16

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 fundamental transformation in core bond investing

An actively managed, core bond solution, the fund invests flexibly across developed and high-quality emerging markets, incorporating inflation-linked bonds and emerging market currencies to proactively protect against the threat of rising rates.


Why Invest In This Fund
A broad global opportunity set

The fund draws on PIMCO’s global resources and investment process to actively manage what we believe are the most attractive fixed income opportunities – including developed and emerging markets, corporate and government securities, currencies and inflation-related assets.


All-in-one global fixed income strategy

The fund may fit into an investor's portfolio as all-in-one strategy to gain broad global fixed income and currency exposure. It can also be used as complement to an existing core allocation that provides access to the entire global marketplace.


Guarding against the "debt wave"

The fund also aims to avoid over-allocation to excessive borrowers, given the growing concerns about the creditworthiness of certain countries. Moreover, the fund navigates an evolving continuum between developed and emerging market investments – taking the asset allocation decisions out of the hands of clients and putting it into the hands of PIMCO experts.


Our Expertise

Andrew Balls, CIO Global, managing director and head of European portfolio management is at the helm of this strategy supported by PIMCO's talented portfolio management resources located around the world. Moreover, the portfolio benefits from PIMCO's four decades of active bond management experience and the expertise of its international portfolio managers from developed market rates specialists to emerging markets portfolio managers, inflation-linked bond experts to credit research analysts.

Managers

Andrew Balls

Mr. Balls is PIMCO's CIO Global Fixed Income. Based in the London office, he oversees the firm’s European, Asia-Pacific, emerging markets and global specialist investment teams. He manages a range of global and European portfolios and is a member of the Investment Committee and the Executive Committee. Previously, he was head of European portfolio management, a global portfolio manager in the Newport Beach office and the firm’s global strategist. Prior to joining PIMCO in 2006, he was an economics correspondent and columnist for the Financial Times in London, New York and Washington, DC. He has 16 years of investment and economics/financial markets experience and holds a bachelor's degree from Oxford and a master's degree from Harvard University. He was a lecturer in economics at Keble College, Oxford. Mr. Balls was nominated by Morningstar in 2013 for European Fixed-Income Fund Manager of the Year.

Sachin Gupta

Mr. Gupta is an executive vice president and global portfolio manager in the Newport Beach office, and head of the global desk. He is a member of the European Portfolio Committee and a rotating member of the Asia-Pacific Portfolio Committee. Previously, he was in PIMCO's London office managing European LDI portfolios. Before that, he was part of PIMCO’s global portfolio management team in the Singapore office. In these roles, he focused on investments in government bonds, sovereign credit derivatives and interest rate derivatives across global markets. Prior to joining PIMCO in 2003, he was in the fixed income and currency derivatives group at ABN AMRO Bank. He has 17 years of investment experience and holds an MBA from XLRI, India. He received an undergraduate degree from Indian Institute of Technology, Delhi.

Lupin Rahman

Ms. Rahman is an executive vice president on the emerging markets (EM) portfolio management team in the Newport Beach office. She focuses on managing strategies covering external, local and FX markets within EM asset space and specializes in sovereign credit, monetary and FX policy analysis. Prior to joining PIMCO in 2008, she spent five years at the International Monetary Fund as an emerging markets macroeconomist focusing on debt sustainability, exchange rate assessments and crisis vulnerability. Before joining the IMF, she worked for the World Bank, the Centre for Economic Performance and STICERD (the Suntory and Toyota International Centres for Economics and Related Disciplines). She has 16 years of investment experience and holds a Ph.D. in economics from the London School of Economics.

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. Morningstar Rating as of 31 May 2015 for the Institutional Class Shares; other classes may have different performance characteristics. Fund ratings are out of 5 Stars: Overall 5 Stars (152 funds rated); 3 Yrs. 5 Stars (152 funds rated); 5 Yrs. 4 Stars (133 funds rated); 10 Yrs. 5 Stars (91 funds rated). 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