PIMCO Short-Term Fund INSTL (PTSHX)

Inception Date: 10/07/1987**


PIMCO
Objective
Seeks maximum current income, consistent with preservation of capital and daily liquidity
Primary Portfolio
Short-term, investment grade bonds (average duration is less than or equal to 1 yr)
At a Glance
SymbolPTSHX
CUSIP Number 693390601
Total Fund Assets (in millions) $13,695.0
Share Class Inception Date 10/07/1987
Dividend Frequency Accrues Daily; Distributes Monthly
Maximum Sales Charge -
Net Operating Expenses 0.45 %

Daily Price

NAV Day Return
$9.82 $0.000.00%
YTD Return
1.20%
As of 07/06/15

Historical Prices

06/30/15

$9.82

07/01/15

$9.83

07/02/15

$9.82

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
Potential to outperform cash investments, with low volatility

By focusing on ultra-short, high quality fixed income securities, the fund offers higher income potential than traditional cash investments, with modest additional risk.


Why Invest In This Fund
Potential to provide a steady source of current income

Short-term bonds can function as an attractive option for investors looking to generate a higher level of income than savings accounts and CDs. However, short-term bond funds do not seek to maintain stable values and offer no guarantees.


Lower potential volatility

The fund’s ultra-short duration is more resistant to interest rate fluctuations than longer-term bonds, resulting in generally lower price volatility. In fact, the fund’s net asset value (NAV) has fluctuated only moderately since its 1987 inception. This low volatility is the result of the fund’s overall ultra-short duration.


A risk-focused approach

The fund’s total return approach means that it is designed to avoid sacrificing principal by simply reaching for the highest yields. In addition to employing sophisticated risk controls, the fund seeks to benefit from the firm’s efforts to identify major market risks early and position portfolios accordingly.


Our Expertise

The portfolio manager for PIMCO Short-Term Fund is Jerome Schneider, a PIMCO Managing Director who started his investment career in 1996. Mr. Schneider is responsible for supervising all of the firm’s short-term investment strategies.

Managers

Jerome M. Schneider

Mr. Schneider is a managing director in the Newport Beach office and head of the short-term and funding desk. Prior to joining PIMCO in 2008, Mr. Schneider was a senior managing director with Bear Stearns. There he most recently specialized in credit and mortgage-related funding transactions and helped develop one of the first "repo" conduit financing companies. Additionally, during his tenure at Bear Stearns he held various positions on the municipal and fixed income derivatives trading desks. He has 18 years of investment experience and holds an undergraduate degree in economics and international relations from the University of Pennsylvania and an MBA from the Stern School of Business at New York University.

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. 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