Low Duration Fund II

PDFAX

Updated May 29, 2020

Objective

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

Primary Portfolio

Short- and intermediate-term fixed income securities with quality and foreign issuer restrictions

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Overview

Fund Overview

A conservative core bond investment

Focused on shorter-term securities, the fund employs a core bond strategy incorporating PIMCO’s signature total return philosophy. It provides broad U.S. market exposure while maintaining a lower sensitivity to interest rate movements.

Why Invest In This Fund

Enhanced return potential

Because of its 1- to 3-year duration range, the fund typically offers a yield advantage over short-term bond funds. It also uses multiple value-added strategies in an effort to enhance returns and manage risk – an approach that has helped it deliver solid short- and long-term results.

Lower volatility potential

Historically, the fund has provided steadier returns than intermediate- or long-term bond funds. However, it may not generate the return potential of longer-term bonds and will also be more volatile than money market funds.

Impressive long-term track record

Strategies – such as credit analysis and sector emphasis – have helped boost long-term returns and manage overall risk. The fund has also produced strong long-term results and has delivered a consistent track record of positive returns for every two-year period since inception.

Our Expertise

The fund's expert portfolio management team – Scott Mather is CIO U.S. Core Strategies and Jerome Schneider is head of the short-term and funding desk – is supported by the full spectrum of PIMCO's global resources and our four decades of active bond management experience.

PRIMARY BENCHMARK

ICE BofAML 1-3 Year U.S. Treasury Index

PRIMARY BENCHMARK DESCRIPTION

The ICE BofAML 1-3 Year U.S. Treasury Index is an unmanaged index comprised of U.S. Treasury securities, other than inflation-protection securities and STRIPS, with at least $1 billion in outstanding face value and a remaining term to final maturity of at least one year and less than three years. It is not possible to invest directly in an unmanaged index.

DIVIDEND FREQUENCY

Monthly with Daily Accrual

SHARE CLASS INCEPTION

02/02/1998

CUSIP

693390668

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Managers

Scott A. Mather

CIO U.S. Core Strategies

View Profile for Scott A. Mather

Jerome M. Schneider

Head of Short-Term Portfolio Management

View Profile for Jerome M. Schneider

Yields & Distributions

Historical Prices & Distributions

Distribution Yield (At Nav) 1 as of 04/30/2020 1.24%
1 - Day Distribution Yield as of - -
30-Day SEC Yield as of - -