International Bond Fund (U.S. Dollar-Hedged)

PFRAX

Updated April 18, 2019

Objective

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

Primary Portfolio

Intermediate maturity hedged non-U.S. fixed-income instruments

Overview

Fund Overview

Access opportunities outside the U.S.

PIMCO International Bond Fund (U.S. Hedged) is a globally diversified portfolio with the flexibility to invest in high-quality developed countries outside the U.S. 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

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.

Flexibility to access a broader opportunity set

Over half of the world’s fixed income securities are issued by developed non-U.S. countries. Guided by PIMCO’s global outlook and on-the-ground insights into fundamentals across the globe, the fund may be an excellent building block for high-quality core bond investments.

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 ex-USD (USD Hedged) Index

PRIMARY BENCHMARK DESCRIPTION

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

DIVIDEND FREQUENCY

Monthly with Daily Accrual

SHARE CLASS INCEPTION

01/28/1997

CUSIP

693390692

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Managers

Andrew Balls

CIO Global Fixed Income

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Sachin Gupta

Head of Global Portfolio Management Desk

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