PIMCO Income Fund

Targeting a High and Consistent Level of Income
The ability to capture diverse income sources, with a distinct emphasis on risk management, has helped PIMCO Income Fund deliver consistent monthly dividends throughout changing market conditions. Managed by Dan Ivascyn (PIMCO Group CIO) and Alfred Murata, named Morningstar’s 2013 U.S. Fixed Income Fund Managers of the Year. Morningstar Awards 2013©. Morningstar, Inc. All Rights Reserved.

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Morningstar
Overall Morningstar Rating for PIMCO Income Fund Institutional Class, as of 11/30/2016 rated against 206 funds based on risk-adjusted returns. Category: Multisector Bond.
Lipper
The 2016 Lipper Fund Award recognized PIMCO Income Fund (Institutional Class) for its 3- and 5-year performance. The award recognizes funds that had delivered consistently strong risk-adjusted performance, relative to peers.

Income Challenges, Answered by Our Experts

WILL MY INCOME BE COMPROMISED AS INTEREST RATES RISE?

Given its sector flexibility and duration management capabilities, the PIMCO Income Fund can position for various interest rate environments.

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WHERE CAN I FIND INCOME IN A LOW-YIELDING ENVIRONMENT?

For income investors, the ability to access a broadly diversified opportunity set, rather than focusing on a single segment of the market, can enhance return potential while also avoiding concentration risk.

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WHERE CAN I LOOK FOR HIGHER-YIELDING INCOME OPPORTUNITIES?

Actively managed, flexible income strategies may capture diverse sources of income by identifying sectors that generate attractive distributions.

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Rise Above Rates

Your home for PIMCO’s most up-to-date outlook for interest rates, insight into how we expect financial markets to be impacted and actionable strategies for positioning portfolios for today’s evolving landscape.

Contact Your PIMCO Representative

Financial Advisors
Wirehouse: 800.628.1237
Independent: 800.880.8684

RIA and Family Offices
800.842.3815

Institutions
888.877.4626

Disclosures

Investors should consider the investment objectives, risks, charges and expenses of the funds carefully before investing. This and other information is contained in each fund's prospectus and summary prospectus, if available, which may be obtained by contacting your investment professional, PIMCO representative, or by visiting pimco.com. Please read them carefully before you invest or send money.


A word about risk: Investing in the bond market is subject to risks, including market, interest rate, issuer, credit, inflation risk, and liquidity risk. The value of most bonds and bond strategies are impacted by changes in interest rates. Bonds and bond strategies with longer durations tend to be more sensitive and volatile than those with shorter durations; bond prices generally fall as interest rates rise, and the current low interest rate environment increases this risk. Current reductions in bond counterparty capacity may contribute to decreased market liquidity and increased price volatility. Bond investments may be worth more or less than the original cost when redeemed. Investments in value securities involve the risk the market's value assessment may differ from the manager and the performance of the securities may decline. Investing in securities of smaller companies tends to be more volatile and less liquid than securities of larger companies. Investing in foreign denominated and/or domiciled securities may involve heightened risk due to currency fluctuations, and economic and political risks, which may be enhanced in emerging markets. Mortgage and asset-backed securities may be sensitive to changes in interest rates, subject to early repayment risk, and their value may fluctuate in response to the market's perception of issuer creditworthiness; while generally supported by some form of government or private guarantee there is no assurance that private guarantors will meet their obligations. High-yield, lower-rated, securities involve greater risk than higher-rated securities; portfolios that invest in them may be subject to greater levels of credit and liquidity risk than portfolios that do not. Equities may decline in value due to both real and perceived general market, economic and industry conditions. Derivatives may involve certain costs and risks such as liquidity, interest rate, market, credit, management and the risk that a position could not be closed when most advantageous. Investing in derivatives could lose more than the amount invested.Diversification does not ensure against loss.


Although the Fund may seek to maintain stable distributions, the Fund’s distribution rates may be affected by numerous factors, including but not limited to changes in realized and projected market returns, fluctuations in market interest rates, Fund performance, and other factors. There can be no assurance that a change in market conditions or other factors will not result in a change in the Fund’s distribution rate or that the rate will be sustainable in the future.


For instance, during periods of low or declining interest rates, the Fund’s distributable income and dividend levels may decline for many reasons. For example, the Fund may have to deploy uninvested assets (whether from purchases of Fund shares, proceeds from matured, traded or called debt obligations or other sources) in new, lower yielding instruments. Additionally, payments from certain instruments that may be held by the Fund (such as variable and floating rate securities) may be negatively impacted by declining interest rates, which may also lead to a decline in the Fund’s distributable income and dividend levels.


Morningstar ratings are only shown for those funds that have achieved a 4 or 5 star rating. Ratings for other share classes are either lower or not available. The minimum initial investment for the Institutional class shares is $1 million; however, it may be modified for certain financial intermediaries who submit trades on behalf of eligible investors.


Morningstar™ Rating as 30 November 2016 for the institutional share class; other classes may have different performance characteristics. For the PIMCO Income Fund: Overall 5 Star (206 funds rated); 3 Yrs. 5 Stars (206 funds rated); 5 Yrs. 5 Stars (162 funds rated). For funds with at least a three-year history, Morningstar calculates a Morningstar Rating based on a risk-adjusted return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads and redemption fees) with an emphasis on downward variations and consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. The Overall Morningstar Rating is a weighted average of the performance figures for its 3-, 5- and 10-yr (if applicable) Morningstar Rating metrics. Morningstar, Inc.® 2016. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its affiliates; (2) may not be copied or distributedand (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.


The performance figures presented reflect the total return performance and reflect changes in share price and reinvestment of dividend and capital gain distributions. All periods longer than one year are annualized.


This material contains the current opinions of the manager and such opinions are subject to change without notice. This material has been distributed for informational purposes only and should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. Information contained herein has been obtained from sources believed to be reliable, but not guaranteed. No part of this material may be reproduced in any form, or referred to in any other publication, without express written permission. PIMCO is a trademark of Allianz Asset Management of America L.P. in the United States and throughout the world. ©2016, PIMCO


PIMCO Investments LLC, distributor, 1633 Broadway, New York, NY, 10019 is a company of PIMCO