PIMCO EqS Pathfinder Fund INSTL (PTHWX)

PIMCO
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) $946.3
Share Class Inception Date 4/14/2010
Dividend Frequency Annually
Maximum Sales Charge -
Net Operating Expenses 0.89 %

Daily Price

NAV Day Return
$9.64 -$0.12 -1.23%
YTD Return
4.22%
As of 03/25/15

Historical Prices

03/20/15

$9.76

03/23/15

$9.78

03/24/15

$9.76

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.


Our Expertise

The fund’s portfolio manager Anne Gudefin – named as one of "The World’s Greatest Investors" by SmartMoney Magazine in 2009 – has more than two decades of investment experience. Ms. Gudefin’s time-tested approach to security analysis and stock selection is complemented by a dedicated team of seasoned equity analysts and supported by PIMCO’s extensive global resources, including macroeconomic, credit research and risk management expertise.

Managers

Anne Gudefin, CFA

Ms. Gudefin is an executive vice president in the London office and a global equity portfolio manager. Prior to joining PIMCO in January 2010, she was a senior vice president, portfolio manager and research analyst at the Mutual Series Group of Franklin Templeton Investments; she served as a co-portfolio manager for the Franklin Mutual Global Discovery Fund from 2005 to 2009 and as portfolio manager for the Franklin Mutual Quest Fund from 2003 to 2009. In total, Ms. Gudefin helped oversee more than $25 billion in investment assets. Earlier in her career, she was a research analyst covering European equities at Perry Capital. In July 2009, Ms. Gudefin was named as one of “The World’s Greatest Investors” by SmartMoney Magazine. She has 24 years of investment and financial services experience and holds a bachelor's degree from IEP Paris and an MBA from Columbia Business School.

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:
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.


PIMCO