PIMCO EqS Pathfinder Fund INSTL (PTHWX)

PIMCO
Please note that this fund will be liquidated on or about July 14, 2015.

Objective
The Fund seeks capital appreciation.
Primary Portfolio
Equity securities, including common and preferred stock, of issuers that PIMCO believes are undervalued
At a Glance
SymbolPTHWX
CUSIP Number 72201T102
Total Fund Assets (in millions) $885.8
Share Class Inception Date 4/14/2010
Dividend Frequency Annually
Maximum Sales Charge -
Net Operating Expenses 0.89 %

Daily Price

NAV Day Return
$10.03 -$0.09 -0.89%
YTD Return
8.43%
As of 05/22/15

Historical Prices

05/19/15

$10.14

05/20/15

$10.12

05/21/15

$10.12

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 deep value stock fund with global reach

Using a well-established, unconstrained approach, this fund seeks attractive long-term, risk-adjusted returns by investing in undervalued stocks that are trading at significant discounts to their intrinsic value.


Why Invest In This Fund
Unconstrained, benchmark-agnostic advantage

The investment process begins with a global, unconstrained investment universe, offering the broadest opportunity set and maximum flexibility for the investment team to seek the most attractive investment opportunities anywhere around the world.


Capital appreciation with a focus on downside protection

The fund seeks stocks that are temporarily mispriced and trading at least 30% below their intrinsic value with a margin of safety embedded in the price, targeting opportunities that may provide the best upside potential and the least downside risk. Of course, value securities may not increase in price as anticipated, or may decline further in value.


Attractive long-term risk/return profile

The fund’s defensive orientation, flexible use of cash and tactical hedging strategies may offer a more attractive risk/return profile over the long term than other value-oriented strategies and the broader global equity market.

Managers

Virginie Maisonneuve

Ms. Maisonneuve is CIO Global Equities, managing director, global head of equities and a portfolio manager based in the London office. Prior to joining PIMCO in 2014, she was head of global and international equities at Schroders plc. Previously, she was co-CIO and director at Clay Finlay, a portfolio manager at State Street Research and Management, and a portfolio manager at Batterymarch Financial Management. She has 28 years of investment experience and holds an MBA from the Ecole Superieure Libre des Sciences Commerciales Appliquees (ESLSCA) in Paris. She also holds a master’s degree in Mandarin Chinese from Dauphine University in Paris and an undergraduate degree from People’s University (Renda) in Beijing.

Geraldine Sundstrom

Ms. Sundstrom is a managing director and portfolio manager in the London office, focusing on asset allocation strategies. Prior to joining PIMCO in 2015, she was a partner and portfolio manager at Brevan Howard, where she led the Emerging Markets Strategies Fund. Previously, she was a portfolio manager at Moore Capital Management. Earlier in her career, Ms. Sundstrom held senior research roles with Citigroup Global Investments and Pareto Partners. She has 17 years of investment experience and holds a master's degree in finance from Birkbeck College at London University and two degrees from Universite Paris Dauphine.

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.

Virginie Maisonneuve and Geraldine Sundstrom began managing the fund on 14 May 2015.

A word about risk:
Equities may decline in value due to both real and perceived general market, economic, and industry conditions. Investments in value securities involve the risk the market’s value assessment may differ from the manager and the performance of the securities may decline. Investing in securities of smaller companies tends to be more volatile and less liquid than securities of larger companies. Investing in distressed companies (both debt and equity) is speculative and may be subject to greater levels of credit, issuer and liquidity risks, and the repayment of default obligations contains significant uncertainties; such companies may be engaged in restructurings or bankruptcy proceedings. 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. Investments in companies engaged in mergers, reorganizations, or liquidations may involve special risks as pending deals may not be completed on time or on favorable terms. 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.

Intrinsic value is the actual value of a company or an asset based on an underlying perception of its true value including all aspects of the business, in terms of both tangible and intangible factors. This value may or may not be the same as the current market value.

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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