Total Return Fund


Updated October 11, 2019


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

Primary Portfolio

Intermediate-term, investment grade bonds



Fund Overview

30+ years delivering the key benefits of core bonds

Backed by the breadth and depth of PIMCO’s global resources and actively managed with a risk-focused approach by three industry-renowned portfolio managers, PIMCO Total Return Fund is a true core bond holding made up of high-quality, intermediate-term bonds that can serve as a portfolio anchor no matter which way the markets move.

Why Invest In This Fund

Strong portfolio diversification potential

Emphasizing higher-quality, intermediate-term bonds that are selected across sectors and geographies in order to avoid concentration risk, particularly with respect to credit, the fund is designed to perform well when equity markets, which often move in lock-step with credit, are weak.

Impressive total return track record

Over 30+ years, the fund has established a legacy of outperformance, helping to deliver attractive total returns across varying market and interest rate environments

An active advantage

Actively managed with a risk-focused approach to preserve capital while seeking to deliver attractive total returns, the fund has considerable flexibility to invest across a global opportunity set, helping to mitigate risk and preserve capital while finding opportunities amid changing economic conditions.

Our Expertise

The fund's expert portfolio management team – Scott Mather is CIO U.S. Core Strategies, Mark Kiesel is CIO Global Credit and Mihir Worah is CIO Real Return and Asset Allocation – is supported by the full spectrum of PIMCO's global resources and our four decades of active bond management experience.


Bloomberg Barclays U.S. Aggregate Index


Bloomberg Barclays U.S. Aggregate Index represents securities that are SEC-registered, taxable, and dollar denominated. The index covers the U.S. investment grade fixed rate bond market, with index components for government and corporate securities, mortgage pass-through securities, and asset-backed securities. These major sectors are subdivided into more specific indices that are calculated and reported on a regular basis. It is not possible to invest directly in an unmanaged index.


Monthly with Daily Accrual








Scott A. Mather

CIO U.S. Core Strategies

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Mark R. Kiesel

CIO Global Credit

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Mihir P. Worah

CIO Asset Allocation and Real Return

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Yields & Distributions