PIMCO EqS Long/Short Fund INSTL (PMHIX)

PIMCO
Objective
The Fund seeks long-term capital appreciation.
Primary Portfolio
Long and short positions of equity and equity-related securities, and cash and cash equivalents
At a Glance
SymbolPMHIX
CUSIP Number 72201T540
Total Fund Assets (in millions) $867.7
Share Class Inception Date 4/20/2012
Dividend Frequency Annually
Maximum Sales Charge -
Net Operating Expenses 1.49 %

Daily Price

NAV Day Return
$12.14 $0.07 0.58%
YTD Return
3.76%
As of 07/01/15

Historical Prices

06/26/15

$12.23

06/29/15

$12.06

06/30/15

$12.07

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
High-conviction stock picking with a focus on downside risk mitigation

With the flexibility to increase or decrease equity market exposure, this fund seeks to offer investors access to the long-term benefits of owning stocks while also preserving their capital during extended market declines.


Why Invest In This Fund
Best ideas approach

The fund seeks to provide capital appreciation by constructing a concentrated, high-conviction portfolio of long and short investments. The fund’s ability to take sizeable positions in its best ideas provides the potential for attractive long-term returns, but may also result in volatility in the short-term.


Actively managed equity market exposure

The fund has the flexibility to increase or decrease equity market exposure by adjusting its mix of long, short and cash positions. It will tend to have more equity market exposure when attractive investment opportunities are plentiful and will take steps to reduce equity market exposure when there is an absence of compelling ideas or when risks appear to outweigh reward.


Time-tested investment strategy

The fund integrates bottom-up, fundamental research and top-down macroeconomic views. The strategy has been tested for over a decade through various market environments. PIMCO’s global investment platform and macroeconomic expertise serve to enhance the investment process.


Our Expertise

PIMCO EqS Long/Short Fund is managed by Geoffrey Johnson, an experienced long/short equity investor who began managing this strategy in 2003. Mr. Johnson’s time-tested approach benefits from PIMCO’s economic insights, cyclical and secular views and global investment platform.

Managers

Geoffrey Johnson

Mr. Johnson is an executive vice president in the Newport Beach office and a global equity portfolio manager focusing on long/short active equity strategies. Prior to joining PIMCO in 2012, he was managing partner of Catamount Capital Management, a boutique investment management firm, where he also served as portfolio manager on two long/short equity strategies. Earlier in his career, Mr. Johnson was founder and president of Direct Response. He has 11 years of investment experience and holds an MBA from the Wharton School of the University of Pennsylvania. He also holds master's and bachelor's degrees in political science from the University of Connecticut.

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 capitalization and mid-capitalization companies tend to be more volatile and less liquid than securities of larger companies. 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. Currency rates may fluctuate significantly over short periods of time and may reduce the returns of a portfolio. 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. REITs are subject to risk, such as poor performance by the manager, adverse changes to tax laws or failure to qualify for tax-free pass-through of income. Entering into short sales includes the potential for loss of more money than the actual cost of the investment, and the risk that the third party to the short sale may fail to honor its contract terms, causing a loss to the portfolio. 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. The Fund is non-diversified, which means that it may invest its investments in a smaller number of issuers than a diversified fund.

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.