Share classes may differ by their internal expenses, potential upfront and/or back-end sales charges, investment minimums and types of investors to whom they’re available. Please review the fund prospectus for a full explanation of the differences between share classes.
Generally, the minimum initial investment for class A and C shares is $1,000 per fund. However, the initial fund minimum is lowered to $250 per fund if you establish an Automatic Investment Plan (AIP). The minimum subsequent purchase is $50 per fund. Class R shares have no initial or subsequent investment minimums.
Class A shares
- Have an initial sales charge that is deducted from investment at the time shares of the PIMCO Funds are purchased.
- Are subject to lower 12b-1 fees than class C shares; thus, shareholders generally pay lower annual expenses and receive higher dividends than class C shareholders.
Class C shares
- Have an asset-based sales charge (a contingent deferred sales charge of 1.0% may apply if shares are redeemed during the first year after initial purchase).
- Are subject to higher 12b-1 fees than class A shares; thus, shareholders normally pay higher annual expenses and receive lower dividends than class A shareholders.
Class R shares
- Are generally available to the following plans: 401(k), 457, employer sponsored 403(b), profit sharing and money purchase pension, defined benefit, non-qualified deferred compensation, and health care benefit funding.
- Do not have an initial sales charge or a contingent deferred sales charge.
- Are not available for individual retirement accounts.
If you have questions about class A, C, or R shares, please call us at 800.426.0107 between the hours of 8 a.m. and 8 p.m. EST.
The minimum initial investment for Institutional, I-2, I-3, Administrative or M shares is $1,000,000 per account. The minimum may be waived or amended for certain financial intermediaries. If you invest through a financial intermediary, please confirm the minimum investment amount with your intermediary.
Institutional class shares
- Offered primarily for direct investment by investors such as pension and profit sharing plans, employee benefit trusts, endowments, foundations, corporations, and high net worth individuals.
- This class of shares may also be offered through certain financial intermediaries that charge their customers transactions or other fees with respect to their customers’ investments in the funds.
- Offered primarily through certain asset allocation, wrap fee and other similar programs offered by broker dealers and other intermediaries.
- Broker/dealers, other intermediaries, pension and profit sharing plans, employee benefit trusts and employee benefit plan alliances also may purchase I-2 shares. These entities may purchase I-2 shares only if the plan or program for which the shares are being acquired will not acquire a fund to pay any type of administrative payment per participant account to any third party.
- Offered primarily through Institutional NTF class for intermediary platforms.
- Broker/dealers and other intermediaries also may purchase I-3 shares.
Administrative class shares
- Offered primarily through employee benefit plan alliances, broker/dealers, and other intermediaries.
- Each Fund pays service and/or distribution fees to these entities for services they provide to Administrative class shareholders.
Class M shares
- Offered primarily for direct investment by investors such as pension and profit sharing plans, employee benefit trusts, endowments, foundations, corporations, high net worth individuals, and through intermediary trading platforms and portals that provide specialized sub-accounting and shareholder processing services.
- Class M shares may also be offered through certain financial intermediaries that charge their customers transaction or other fees with respect to their customers’ investments in the funds.
If you have questions about Institutional, I-2, I-3, Administrative or M shares, please call 800.927.4648 between the hours of 9 a.m. and 7 p.m. EST.