Long-Term Credit Bond Fund

PLCPX

Updated August 16, 2019

Objective

Seeks total return which exceeds that of its benchmark, consistent with preservation of capital and prudent investment management

Primary Portfolio

Long-Term maturity investment grade debt securities

Overview

Fund Overview

Exposure to high-quality longer duration bonds

Combining our top-down global macroeconomic analysis with our rigorous credit research, the fund seeks to outperform longer-duration benchmarks without excess volatility by investing primarily in long-duration, investment-grade corporate and sovereign bonds.

Why Invest In This Fund

Attractive yield potential

The fund focuses on corporate and credit securities with a longer duration, which is a measure, in years, of a security’s price sensitivity to interest rate changes. Because this strategy entails greater sensitivity to changing interest rates, it may be used as a core holding for investors with longer term liabilities or those investing based on expected interest rate trends.

Flexibility to enhance returns

The fund has access to a broad investment universe, including sovereign bonds, mortgages and foreign bonds and pursues maximum total return – both income and capital appreciation – using the same time-tested investment process and philosophy that PIMCO applies across all of its investment portfolios.

Extensive credit resources and research

Employing a disciplined approach to credit research, the fund accesses PIMCO’s team of more than 50 bottom-up credit investment professionals and utilizes top-down, bottom-up and valuation screens to identify what we believe are the most attractive opportunities in global credit markets.

Our Expertise

Mark Kiesel was named Morningstar's 2012 Fixed Income Fund manager of the Year. He is a longtime investment manager, CIO Global Credit and the global head of PIMCO's corporate bond portfolio management group and a senior member of the investment strategy and portfolio management group.

PRIMARY BENCHMARK

Bloomberg Barclays U.S. Long Credit Index

PRIMARY BENCHMARK DESCRIPTION

Bloomberg Barclays U.S. Long Credit Index includes both corporate and non-corporate sectors with maturities equal to or greater than 10 years. The corporate sectors are Industrial, Utility, and Finance, which include both U.S. and non-U.S. corporations. The non-corporate sectors are Sovereign, Supranational, Foreign Agency, and Foreign Local Government. It is not possible to invest directly in an unmanaged index.

DIVIDEND FREQUENCY

Monthly with Daily Accrual

SHARE CLASS INCEPTION

02/29/2012

CUSIP

72201P621

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Managers

Mark R. Kiesel

CIO Global Credit

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Mohit Mittal

Portfolio Manager, Liability Driven Investment and Credit

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Yields & Distributions