Morningstar Upgrades PIMCO Income Fund to Gold

“The strategy has posted long-term returns among the category’s best, with modest volatility. It has been as or more resilient in other times of stress, too.”

Fund Details and Materials

PIMIX

Income Fund

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30-day SEC Yield Footnote 2
2.54%
as of 12/31/2020
Distribution Yield (NAV) Footnote 3
3.55%
as of 12/31/2020
Total Net
Assets
$131,634 MM
as of 12/31/2020
Fund Inception Date
03/30/2007
Overall Morningstar™ Rating
4-Star
Among 295 Multisector Bond funds based on risk-adjusted returns as of 12/31/2020.
Average Annual Returns 1 yr 3 yr 5 yr 10 yr Since Inception
Income Fund (at NAV) 5.80 4.76 6.30 7.36 8.06
Bloomberg Barclays U.S. Aggregate Index 7.51 5.34 4.44 3.84 4.47
Disclosures

All data as of 31 December 2020, unless otherwise stated. Source: PIMCO, Bloomberg. Performance is shown for the institutional class, net of fees. Gross Expense Ratio: 1.09%. Adjusted Expense Ratio: 0.50%. The Adjusted Expense Ratio excludes certain investment expenses, such as interest expense from borrowings and repurchase agreements and dividend expense from investments on short sales, incurred directly by the Fund or indirectly through the Fund’s investments in underlying PIMCO Funds (if applicable), none of which are paid to PIMCO.

Performance quoted represents past performance. Past performance 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 performance shown. For performance current to the most recent month-end, visit www.pimco.com or call (888) 87-PIMCO

Distributions may be comprised of ordinary income, net capital gains, and/or a return of capital (“ROC”) of your investment in the Fund. If the Fund estimates that a portion of its distribution may be comprised of amounts from sources other than net investment income in accordance with its policies and good accounting practices, the Fund will notify shareholders of the estimated composition of such distribution through a Section 19 Notice. The amounts and composition of distributions reported on any Section 19 Notice issued by the Fund are only estimates and should not be used for tax reporting purposes. The actual amounts and composition of distributions for tax reporting purposes will depend upon the Fund's investment experience during its entire fiscal year and may be subject to changes based on tax regulations. Final determination of a distribution's tax character will be reported on Form 1099 DIV sent to shareholders for the calendar year.

PFIIX

Low Duration Income Fund

30-day SEC Yield Footnote 2
2.18%
as of 12/31/2020
Distribution Yield (NAV) Footnote 3
3.03%
as of 12/31/2020
Total Net Assets
$6,261MM
as of 12/31/2020
Fund Inception Date
07/30/2004
Overall Morningstar™ Rating
Among 514 Short-Term Bond funds based on risk-adjusted returns as of 12/31/2020.
Average Annual Returns 1 yr 3 yr 5 yr 10 yr Since Inception
Low Duration Income Fund (at NAV) 4.77 4.31 6.03 3.81 3.97
Bloomberg Barclays U.S. Aggregate 1-3 Years Index 3.08 2.90 2.17 1.60 2.56
Disclosures

All data as of 31 December 2020, unless otherwise stated. Source: PIMCO, Bloomberg. Performance is shown for the institutional class, net of fees. Gross Expense Ratio: 0.55%. Adjusted Expense Ratio: 0.51%. The Adjusted Expense Ratio excludes certain investment expenses, such as interest expense from borrowings and repurchase agreements and dividend expense from investments on short sales, incurred directly by the Fund or indirectly through the Fund’s investments in underlying PIMCO Funds (if applicable), none of which are paid to PIMCO.

Performance quoted represents past performance. Past performance 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 performance shown. For performance current to the most recent month-end, visit www.pimco.com or call (888) 87-PIMCO

Distributions may be comprised of ordinary income, net capital gains, and/or a return of capital (“ROC”) of your investment in the Fund. If the Fund estimates that a portion of its distribution may be comprised of amounts from sources other than net investment income in accordance with its policies and good accounting practices, the Fund will notify shareholders of the estimated composition of such distribution through a Section 19 Notice. The amounts and composition of distributions reported on any Section 19 Notice issued by the Fund are only estimates and should not be used for tax reporting purposes. The actual amounts and composition of distributions for tax reporting purposes will depend upon the Fund's investment experience during its entire fiscal year and may be subject to changes based on tax regulations. Final determination of a distribution's tax character will be reported on Form 1099 DIV sent to shareholders for the calendar year.

Your Source for Income Strategies

Benefit from PIMCO’s expertise as one of the world’s premier bond managers

10+ Years of Navigating Up and Down Markets

By seeking to provide consistent income and attractive returns, PIMCO Income Fund has helped millions of investors’ worldwide meet their income investing goals for over a decade. Footnote 1

Designed with Resiliency in Mind to Handle Market Challenges

Uniquely balances higher-yielding assets and higher-quality assets, which perform differently in varying growth environments, to help weather the challenges of changing markets.

A Focus on Income

No matter which way the markets and interest rates move, our income investing strategies can access opportunities around the world – thanks to its global, flexible approach.

Award-Winning Income Investment Management Team

Dan Ivascyn and Alfred Murata were named Morningstar’s 2013 U.S. Fixed Income Fund Managers of the Year Footnote 4 . Dan, Alfred and Joshua Anderson 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.

Dan Ivascyn

Dan Ivascyn

Group Chief Investment Officer

Dan is Group Chief Investment Officer and a managing director in the Newport Beach office, and is the lead portfolio manager for the firm’s income strategies and credit hedge fund and mortgage opportunistic strategies.

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Alfred Murata

Alfred Murata

Portfolio Manager, Mortgage Credit

Alfred is a managing director and portfolio manager in the Newport Beach office, managing income-oriented, multi-sector credit, opportunistic and securitized strategies.

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Joshua Anderson

Joshua Anderson

Head of Global ABS Portfolio Management

Joshua is a managing director and portfolio manager on the income team in the Newport Beach office, and leads the global ABS (asset-backed securities) portfolio management team.

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