Short-Term Fund

PSHAX

Updated April 25, 2019

Objective

Seeks maximum current income, consistent with preservation of capital and daily liquidity

Primary Portfolio

Short-term, investment grade bonds (average duration is less than or equal to 1 yr)

Overview

Fund Overview

Potential to outperform cash investments, with low volatility

By focusing on ultra-short, high quality fixed income securities, the fund offers higher income potential than traditional cash investments, with modest additional risk.

Why Invest In This Fund

Potential to provide a steady source of current income

Short-term bonds can function as an attractive option for investors looking to generate a higher level of income than savings accounts and CDs. However, short-term bond funds do not seek to maintain stable values and offer no guarantees.

Lower potential volatility

The fund’s ultra-short duration is more resistant to interest rate fluctuations than longer-term bonds, resulting in generally lower price volatility. In fact, the fund’s net asset value (NAV) has fluctuated only moderately since its 1987 inception. This low volatility is the result of the fund’s overall ultra-short duration.

A risk-focused approach

The fund’s total return approach means that it is designed to avoid sacrificing principal by simply reaching for the highest yields. In addition to employing sophisticated risk controls, the fund seeks to benefit from the firm’s efforts to identify major market risks early and position portfolios accordingly.

Our Expertise

The portfolio manager for PIMCO Short-Term Fund is Jerome Schneider, named Morningstar’s 2015 U.S. Fixed Income Fund Manager of the Year. Mr. Schneider is a Managing Director who started his investment career in 1996 and is responsible for supervising all of the firm’s short-term investment strategies.

PRIMARY BENCHMARK

FTSE 3-Month Treasury Bill Index

PRIMARY BENCHMARK DESCRIPTION

FTSE 3-Month Treasury Bill Index is an unmanaged index representing monthly return equivalents of yield averages of the last 3 month Treasury Bill issues. It is not possible to invest directly in an unmanaged index.

DIVIDEND FREQUENCY

Monthly with Daily Accrual

SHARE CLASS INCEPTION

01/20/1997

CUSIP

693391211

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Managers

Andrew Wittkop and Nathan Chiaverini began managing the fund on 1 April 2019.

Jerome M. Schneider

Head of Short-Term Portfolio Management

View Profile

Andrew T. Wittkop

Portfolio Manager, Treasuries, Agencies, Rates

View Profile

Nathan Chiaverini

Portfolio Manager, Short-Term Desk

View Profile

Yields & Distributions

Historical Prices & Distributions

Distribution Yield (At Nav) 1 as of 03/31/2019 2.63%
1 - Day Distribution Yield as of 04/25/2019 -
30 - Day SEC Yield as of 03/31/2019 2.63%
30 - Day SEC Yield as of 04/25/2019 -
Latest Dividend Distribution ($ Share)2 as of 03/29/2019 $0.021869780
Dividend Distribution (YTD) 3 as of 03/29/2019 $0.057335700
Yields & Distributions Footnotes & Disclosures

disclosures

The 30 day SEC Yield is computed under an SEC standardized formula based on net income earned over the past 30 days.

Fees & Expenses

Effective as of 07/30/2018
Total Expense Ratio 0.82%
The Net Expense Ratio excluding interest expense is 0.70%. Interest expense can result from portfolio investment transactions and is not paid to PIMCO.

Front End Sales Charge Schedule

Sales Range (USD) Sales Charge %
Under $100,000 2.25%
$100,000 but under $250,000 1.25%
$250,000+* 0.00%

Prices & Performance

Daily Statistics

All data as of 04/25/2019

NAV $9.82 One Day Return 0.11%
Daily Change $0.01 Daily YTD Return 1.39%
Click here to view Historical Prices
  • Average Annual Returns
  • Cumulative Returns

All data as of

  • Daily
  • Month End
  • Quarter End

All data as of

  • Daily
  • Month End
  • Quarter End
Performance quoted represents past performance and is not a guarantee or a reliable indicator of future results. Investment return and the principal value of an investment will fluctuate. Shares may be worth more or less than original cost when redeemed. Current performance may be lower or higher than average annual returns shown. The maximum offering price (MOP) returns take into account the Class A maximum initial sales charge of 2.25%.

Differences in the Fund’s performance versus the index and related attribution information with respect to particular categories of securities or individual positions may be attributable, in part, to differences in the pricing methodologies used by the Fund and the index.

There is no assurance that any fund, including any fund that has experienced high or unusual performance for one or more periods, will experience similar levels of performance in the future. High performance is defined as a significant increase in either 1) a fund’s total return in excess of that of the fund’s benchmark between reporting periods or 2) a fund’s total return in excess of the fund’s historical returns between reporting periods. Unusual performance is defined as a significant change in a fund’s performance as compared to one or more previous reporting periods.

Calendar Year Returns %

All data as of

Growth of $10,000 (hypothetical)

Morningstar and Lipper

  • Morningstar Ratings
  • Lipper Rankings