Multi-Strategy Alternative Fund

PXAIX

Updated June 19, 2019

Objective

The Fund seeks maximum total return, consistent with prudent investment management.

Primary Portfolio

Underlying PIMCO Funds, PIMCO exchange-traded funds and may also invest in unaffiliated funds, fixed-income instruments, equity securities and other instruments

Overview

Fund Overview

A comprehensive liquid alternative strategy

PIMCO Multi-Strategy Alternative Fund invests across the full suite of PIMCO’s liquid alternative strategies as it targets attractive risk-adjusted returns through various market environments, while potentially limiting portfolio downside during large corrections in equity or bond markets.

Why Invest In This Fund

Allocated across a broad opportunity set

The fund dynamically allocates across a range of PIMCO’s liquid alternative mutual funds, including absolute return fixed income, equity long/short, equity market neutral and managed futures strategies. The fund also has the ability to invest in individual securities to gain exposure to liquid alternative strategies not offered as standalone mutual funds or to manage overall portfolio risks.

Diversification potential

The fund seeks to generate attractive risk-adjusted returns with substantially lower volatility and downside potential relative to stocks, while seeking to provide important diversification benefits to a traditional portfolio of stocks and bonds.

Liquid alternatives leader

PIMCO has one of the longest track records managing liquid alternative strategies in the industry and is among the largest providers of liquid alternative strategies by assets under management. Through a single investment in the fund, investors gain access to PIMCO’s extensive platform and global presence, the deep expertise of our sector specialists and the firm’s 40+ years of active management expertise across asset classes.

Our Expertise

The fund is managed by Mohsen Fahmi, managing director and generalist portfolio manager, Emmanuel Sharef, executive vice president, and Mihir Worah, CIO Real Return and Asset Allocation. The portfolio managers work closely together to evaluate strategies for inclusion in the fund and collaborate on all major risk allocation decisions.

PRIMARY BENCHMARK

3 Month USD LIBOR Index

PRIMARY BENCHMARK DESCRIPTION

The 3 Month USD LIBOR (London Interbank Offered Rate) Index is an average interest rate, determined by the ICE Benchmark Administration, that banks charge one another for the use of short-term money (3 months) in England's Eurodollar market. It is not possible to invest in an unmanaged index.

DIVIDEND FREQUENCY

Quarterly

SHARE CLASS INCEPTION

12/30/2014

CUSIP

72202E849

RELATED

With more bonds trading at negative yields globally, benchmark-agnostic strategies look compelling.

Read More

In unsettled markets, flexible solutions may help investors capture opportunity and mitigate risk.

Read More

Exposures and diversification potential vary markedly.

Read More

Managers

Mohsen Fahmi

Portfolio Manager, Global Fixed Income

View Profile

Emmanuel S. Sharef

Portfolio Manager, Asset Allocation and Residential Real Estate

View Profile

Mihir P. Worah

CIO Asset Allocation and Real Return

View Profile

Yields & Distributions