PIMCO Income Fund INSTL (PIMIX)


PIMCO
Objective
Seeks to maximize current income. Long-term capital appreciation is a secondary objective
Primary Portfolio
Broad range of fixed income securities (0-8 years average duration)
At a Glance
SymbolPIMIX
CUSIP Number 72201F490
Total Fund Assets (in millions) $46,196.9
Share Class Inception Date 03/30/2007
Dividend Frequency Accrues Daily; Distributes Monthly
Maximum Sales Charge -
Net Operating Expenses 0.45 %

Daily Price

NAV Day Return
$12.36 -$0.05 -0.39%
YTD Return
2.95%
As of 06/29/15

Historical Prices

06/24/15

$12.42

06/25/15

$12.41

06/26/15

$12.41

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
Targets high, consistent income

Designed for investors who need steady income, the fund takes a broad-based approach to investing in income-generating bonds. It employs our vast analytical capabilities and sector expertise to help temper the risks of income investing.


Why Invest In This Fund
Pursues income across global fixed income sectors

The global economic landscape is constantly changing, causing different bond sectors to go in and out of favor. The fund’s multi-sector approach allows it to seek out the best income-generating ideas in any market climate, targeting multiple sources of income from a global opportunity set.


Total return approach to maximizing income potential

While maximizing current income is its primary goal, the fund also seeks long-term capital appreciation and attractive risk-adjusted returns. This means that while the fund is going to seek out the highest possible income for investors, it aims to not sacrifice quality or principal.


Ability to be opportunistic

The fund can tactically shift portfolio weightings, moving to wherever we believe attractive yields can be generated in this increasingly complex and volatile investment environment. This flexibility helps the fund to nimbly capture opportunities as economic and market conditions change.


Our Expertise

Dan Ivascyn and Alfred Murata were named Morningstar’s 2013 U.S. Fixed Income Fund Managers of the Year. Mr. Ivascyn and Mr. Murata draw on the firm’s time-tested investment process: our rigorously developed global macro outlook, bottom-up credit analysis and research teams’ deep reservoir of specialized investment expertise.

Managers

Dan J. Ivascyn

Mr. Ivascyn is Group Chief Investment Officer and a managing director in the Newport Beach office. He is lead portfolio manager for the firm’s income strategies and credit hedge fund and mortgage opportunistic strategies. He is a member of PIMCO's Executive Committee and a member of the Investment Committee. Morningstar named him Fixed-Income Fund Manager of the Year (U.S.) for 2013. Prior to joining PIMCO in 1998, he worked at Bear Stearns in the asset-backed securities group, as well as T. Rowe Price and Fidelity Investments. He has 23 years of investment experience and holds an MBA in analytic finance from the University of Chicago Graduate School of Business and a bachelor's degree in economics from Occidental College.

Alfred T. Murata

Mr. Murata is a managing director and portfolio manager in the Newport Beach office on the mortgage credit team. Morningstar named him Fixed-Income Fund Manager of the Year (U.S.) for 2013. Prior to joining PIMCO in 2001, he researched and implemented exotic equity and interest rate derivatives at Nikko Financial Technologies. He has 14 years of investment experience and holds a Ph.D. in engineering-economic systems and operations research from Stanford University. He also earned a J.D. from Stanford Law School and is a member of the State Bar of California.

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.

Past performance is not a guarantee or a reliable indicator of future results. Morningstar Rating as 31 May 2015 for the institutional share class; other classes may have different performance characteristics. For the PIMCO Income Fund: Overall 5 Star (209 funds rated); 3 Yrs. 5 Stars (209 funds rated); 5 Yrs. 5 Stars (163 funds rated). For funds with at least a three-year 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 and (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