Long Duration Total Return Fund

PLRIX

Updated September 29, 2016

Objective

Seeks maximum total return, consistent with prudent investment management

Primary Portfolio

Long-term maturity fixed income securities

Overview

Fund Overview

A longer duration, core bond investment

PIMCO Long Duration Fund is a core bond fund that provides broad market exposure to high-quality, longer duration fixed income securities. Following PIMCO’s signature total return philosophy and process, it employs a variety of strategies to enhance return potential and manage overall portfolio risk.

Why Invest In This Fund

Greater exposure to interest rate trends

The Fund invests in a diversified portfolio of longer duration bonds, with an average duration that normally varies within two years (plus or minus) of the Barclays Capital Long-Term Government/Credit Index. Duration is a measure of a security’s price sensitivity to interest rate changes, measured in years; a longer duration implies greater interest rate sensitivity and return potential than intermediate-duration bonds, but also higher volatility. The Fund can be used as a core holding for investors with a higher risk tolerance, or as an allocation to position a portfolio for expected interest rate trends.

Value-added active management

We seek to add value through active management of the Fund. The portfolio is well-diversified, with flexibility to invest across sectors and issuers. Although the Fund is subject to greater interest rate risk than shorter-duration funds, it strives to limit this risk by maintaining the portfolio’s duration within a moderate range around the benchmark’s duration. The Fund employs PIMCO’s total return philosophy, seeking to balance capital appreciation potential and income.

Duration management expertise

PIMCO, a leading fixed income asset manager, combines various measures to assess the interest rate risk to which a longer duration portfolio may be subjected. Our extensive internal modeling addresses duration in its many forms: bull and bear durations (rate shifts of given amounts); total curve durations (changing yield curve shapes); credit spread durations; and mortgage spread and prepayment durations. Our firm-wide macroeconomic outlook, which forecasts the forces likely to impact fixed income markets over the short and long term, likewise helps drive our duration strategies.

PRIMARY BENCHMARK

Barclays Long-Term Government/Credit Index

PRIMARY BENCHMARK DESCRIPTION

Barclays Long-Term Government/Credit Index is an unmanaged index of U.S. Government or Investment Grade Credit Securities having a maturity of 10 years or more. It is not possible to invest directly in an unmanaged index.

DIVIDEND FREQUENCY

Monthly with Daily Accrual

SHARE CLASS INCEPTION

08/31/2006

CUSIP

72201F623

Managers

Steve A. Rodosky

Portfolio Manager, Treasuries, Agencies and Futures

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Michael Cudzil

Co-Head of Agency Mortgage Portfolio Management

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Mohit Mittal

Portfolio Manager, Investment Grade Credit

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Yields & Distributions

Historical Prices & Distributions

Distribution Yield (At Nav) as of 08/31/2016 4.01%
30 - Day SEC Yield as of 08/31/2016 3.76%
30 - Day SEC Yield as of 09/29/2016 -
Latest Dividend Distribution ($ Share) as of 08/31/2016 $0.041637736
Dividend Distribution (YTD) as of 08/31/2016 $0.311691103

Fees & Expenses

Total Annual Operating Expenses 0.55%
Net Operating Expenses Ex-interest 0.50%

Prices & Performance

Daily Statistics

All data as of 09/29/2016

NAV $12.15 One Day Return 0.18%
Daily Change $0.02 Daily YTD Return 17.11%
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

Calendar Year Returns %

All data as of

Growth of $10,000 (hypothetical)

Morningstar and Lipper

  • Morningstar Ratings
  • Lipper Rankings

Portfolio Composition

All data as of unless otherwise stated

Maturity %

0-1 yrs -1.22
1-3 yrs 4.27
3-5 yrs -1.14
5-10 yrs 17.86
10-20 yrs 14.74
20+ yrs 65.49
Effective Maturity (yrs) 22.58

Duration in Years

Effective Duration (yrs) 14.40

Risk Characteristics
(Trailing 3 Years)

Standard Deviation 7.56
Sharpe Ratio 1.40
Information Ratio 0.11
Tracking Error 1.14

Sector Allocation
Market Value %

US Government Related 37.21
Mortgage 7.62
Invest. Grade Credit 48.38
High Yield Credit 2.73
Non-USD Developed 0.54
Emerging Markets 5.45
Municipal/Other 9.36
Net Other Short Duration Instruments -11.30

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