Global Bond Opportunities Fund (Unhedged)

PAGPX

Updated May 26, 2020

Objective

Seeks maximum total return, consistent with preservation of capital and prudent investment management

Primary Portfolio

Intermediate maturity U.S. and unhedged foreign fixed income securities

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Overview

Fund Overview

Access high-quality fixed income worldwide

PIMCO Global Bond Opportunities Fund (Unhedged) utilizes benchmark agonistic approach that provides greater flexibility to invest across global markets than a traditional, benchmark oriented bond strategy with limited currency risk. By navigating exposures across different rate environments, growth dynamics, credit profiles, and policy objectives, the fund has demonstrated an ability to deliver attractive returns while reducing overall portfolio volatility.

Why Invest In This Fund

Enhanced flexibility to invest across global markets

Guided by PIMCO’s global outlook, the fund’s flexible structure allows it to focus on what we believe are the best ideas in global fixed income while also retaining core bond characteristics.

Increased return diversification relative to domestic bonds

Diversifying instruments internationally can help mitigate volatility, and may also grant rich opportunities for solid diversification and the potential for strong risk-adjusted returns over time.

Time-tested process

Supported by a deep international presence with over 50 global portfolio managers located around the world, the fund capitalizes on PIMCO’s industry leadership and time-tested investment process, which guide portfolio construction via our top-down macroeconomic outlook and rigorous bottom-up credit analysis.

PRIMARY BENCHMARK

Bloomberg Barclays Global Aggregate (USD Unhedged) Index

PRIMARY BENCHMARK DESCRIPTION

Bloomberg Barclays Global Aggregate (USD Unhedged) Index provides a broad-based measure of the global investment-grade fixed income markets. The three major components of this index are the U.S. Aggregate, the Pan-European Aggregate, and the Asian-Pacific Aggregate Indices. The index also includes Eurodollar and Euro-Yen corporate bonds, Canadian Government securities, and USD investment grade 144A securities. It is not possible to invest directly in an unmanaged index.

DIVIDEND FREQUENCY

Monthly with Daily Accrual

SHARE CLASS INCEPTION

01/31/2018

CUSIP

72202G356

Managers

Andrew Balls

CIO Global Fixed Income

View Profile for Andrew Balls

Sachin Gupta

Head of Global Portfolio Management Desk

View Profile for Sachin Gupta

Lorenzo Pagani

Head of European Government Bond Portfolio Management

View Profile for Lorenzo Pagani

Fees & Expenses

Effective as of 07/31/2019
Gross Expense Ratio 1.12%
Adjusted Expense Ratio 0.95%
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.

Front End Sales Charge Schedule

Sales Range (USD) Sales Charge %
Under $100,000 3.75%
$100,000 but under $250,000 3.25%
$250,000 but under $500,000 2.25%
$500,000 but under $1 million 1.75%
$1 million+* 0.00%

Portfolio Composition

All data as of unless otherwise stated

Maturity %

0-1 yrs -0.04
1-3 yrs 0.22
3-5 yrs 31.92