Money Market Fund

PMIXX

Updated August 26, 2016

Objective

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

Primary Portfolio

Money market instruments

Overview

The PIMCO Money Market Fund will be reorganized into the PIMCO Government Money Market Fund on or around 23 September 2016.

Fund Overview

Quality Portfolio

The Fund may invest at least 95% of its total assets in a diversified portfolio of money market securities that are in the highest rating category for short-term obligations.

Why Invest In This Fund

Experienced Management

The fund’s portfolio manager, Jerome Schneider, began his investment career in 1996. He is responsible for supervising all of PIMCO’s short-term investment strategies.

For Short-Term Investment

Stock and bond funds should, in general, be viewed as long-term investments. So where can you invest the money you might need in three to six months, if not sooner? Most financial advisors recommend putting aside a minimum of three months of living expenses in a short-term, liquid investment, such as a money market fund.

Alternative to Savings Account and CDs

Money market funds strive to provide many of the same benefits as savings accounts and CDs. But with the assumption of slightly more risk, they attempt to provide a higher yield. Money market funds generally seek to offer:

  • Current income
  • Liquidity
  • Price stability

Of course, unlike CDs and bank savings accounts, money market fund shares are not guaranteed as to repayment of principal and interest, and they do not offer a fixed rate of return.

An investment in the Fund is not insured or guaranteed by the FDIC or any other government agency. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the Fund.

PRIMARY BENCHMARK

Citi 3-Month Treasury Bill Index

PRIMARY BENCHMARK DESCRIPTION

Citi 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

03/01/1991

CUSIP

693390536

Managers

Jerome M. Schneider

Head of Short-Term Portfolio Management

View Profile

Yields & Distributions

Historical Prices & Distributions

Distribution Yield (At Nav) 1 as of 07/31/2016 0.19%
30 - Day SEC Yield2 as of 07/31/2016 0.18%
30 - Day SEC Yield2 as of 08/26/2016 0.19%
7 - Day SEC Yield2 as of 08/26/2016 0.15%
Latest Dividend Distribution ($ Share)3 as of 07/29/2016 $0.000157827
Dividend Distribution (YTD) 4 as of 07/29/2016 $0.000764650
Yields & Distributions Footnotes & Disclosures

disclosures

1The distribution yield for monthly paying Funds is calculated by annualizing actual dividends distributed for the monthly period ended on the date shown and dividing by the net asset value on the last business day for the same period. The distribution yield for quarterly paying Funds is calculated by taking the average of the prior four quarterly distribution yields. The quarterly distribution yields are calculated by annualizing actual dividends distributed for the quarterly period ended on the most recent quarterly distribution date and dividing by the net asset value for the same date. The distribution yield for annual paying Funds is calculated by taking the annual distribution divided by the Fund’s net asset value on ex-date. The yield is annualized if the Fund incepted less than a year ago. The yield does not include long- or short-term capital gains distributions.
2The 30-Day SEC yield is an annualized yield based on the most recent 30 day period. The 7-Day SEC yield is an annualized yield based on the most recent 7 day period. The yield quotation more closely reflects the current earnings of the fund than the total return quotation.
3Data does not include special cash dividends.
4Data is based on distributions since the most recent calendar year end and does not include special cash dividends.
Unless stated, the Fund does not have an unsubsidized yield.

Fees & Expenses

Total Annual Operating Expenses 0.32%

Prices & Performance

Daily Statistics

All data as of 08/26/2016

NAV $1.00 One Day Return 0.00%
Daily Change $0.00 Daily YTD Return 0.09%
Click here to view Historical Prices

View Market Based NAV

  • 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. Performance quoted does not reflect any sales charges, if applicable, and performance would be lower if it did.

Calendar Year Returns %

All data as of

Growth of $10,000 (hypothetical)

Since inception 03/01/1991 to 07/31/2016 = $19,908

Morningstar and Lipper

  • Morningstar Ratings
  • Lipper Rankings
Prices & Performance Footnotes & Disclosures

disclosures

Performance figures presented reflect the total return performance after fees and reflect changes in share price and reinvestment of dividend and capital gain distributions on the payable date. All periods longer than one year are annualized.
Total return performance does not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The minimum initial investment for Institutional class shares is $1 million; however, it may be modified for certain financial intermediaries who submit trades on behalf of eligible investors.

The Fund returns are since the Fund's inception and the index returns are since 02/28/1991.
Daily YTD return is from the most recent calendar year end.
Growth of $10,000 is calculated at NAV and assumes that all dividend and capital gain distributions were reinvested. It does not take into account sales charges or the effect of taxes. Results are not indicative of future performance.
Past performance is not a guarantee or a reliable indicator of future results. For funds with at least a 3-yr 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.® 2015. All rights reserved. The information contained herein; (1) is proprietary to Morningstar and/or its affiliates; (2) may not be copied or distributed; (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. Hollow stars represent a class of shares with inception dates that is different than the inception date of the fund. For the period prior to the inception date of these shares, performance information is based on the performance of the fund’s Institutional Class shares, adjusted to reflect the actual distribution and/or service (12b-1) fees and other expenses paid by the newer share class.
The Lipper Category returns and rankings are calculated by Lipper Inc., a Reuters Company, which is a nationally recognized organization that compares the performance of mutual funds with similar investment objectives. The Category returns represent the average performance of included funds, while rankings compare an individual fund's returns to those of the other funds in its category. Both are based on total return performance, with capital gains and dividends reinvested, with annual operating expenses deducted, but without including front- or back-end sales charges. Rankings begin with the actual share class inception. Rankings are relative to a peer group and do not necessarily mean that the fund had high total returns.

Liquidity

Net Shareholder Activity

Daily Liquid Assets5

Weekly Liquid Assets6

Market-Based NAV (Per Share)7

Liquidity Footnotes & Disclosures

disclosures

5Daily liquid assets: Assets consisting of (i) cash, (ii) direct obligations of the U.S. government, (iii) securities that will mature, as determined without reference to the exceptions regarding interest rate readjustments, or are subject to a demand feature that is exercisable and payable, within one business day, or (iv) amounts receivable and due unconditionally within one business day on pending sales of portfolio securities. Money market funds are required to hold a minimum of 10% of their assets in these assets.
6Weekly liquid assets: Assets consisting of (i) cash, (ii) direct obligations of the U.S. government, (iii) government securities that are issued by a person controlled by or supervised by and acting as an instrumentality of the government of the United States pursuant to authority granted by Congress that (A) are issued at a discount to the principal amount to be repaid at maturity without provision for the payment of interest, and (B) have a remaining maturity date of 60 days or less, (iv) securities that will mature, as determined without reference to the exceptions regarding interest rate readjustments, or are subject to a demand feature that is exercisable and payable, within five business days, or (v) amounts receivable and due unconditionally within five business days on pending sales of portfolio securities. Money market funds are required to hold a minimum of 30% of their assets in these assets.
7Market-Based NAV (Per Share): The Market-Based NAV is the net asset value per share, calculated using available market quotations (or an appropriate substitute that reflects current market conditions) rounded to the fourth decimal place. The Market-Based NAV is not indicative of future Market-Based NAVs or the future performance of any of the Funds and classes set forth above. The Market-Based NAV may change daily and may deviate from $1.0000 even when financial markets are stable. Although the Market-Based NAV is intended to reflect the price at which a Fund's securities could be sold, the actual sales price could be more or less.

Portfolio Composition

All data as of unless otherwise stated

Maturity

DAYS TO MATURITY 3

Risk Characteristics
(Trailing 3 Years)

Standard Deviation 0.02
Sharpe Ratio8 -1.75
Information Ratio9 -1.03
Tracking Error10 0.02
Portfolio Composition Footnotes & Disclosures

disclosures

8The Sharpe Ratio measures the risk-adjusted performance. The risk-free rate is subtracted from the rate of return for a portfolio and the result is divided by the standard deviation of the portfolio returns.
9The information ratio is defined as the portfolio's excess return per unit of risk, or tracking error. For example, an information ratio of 1 means that a portfolio manager generates 100 basis points, or one percent of excess return for every 100 basis points of risk taken.
10Tracking error, a measure of risk, is defined as the standard deviation of the portfolio's excess return vs. the benchmark expressed in percent.
Portfolio information in the charts is based on the fund's net assets. These percentages may differ from those used for the fund's compliance calculations, including the fund's prospectus, regulatory, and other investment limitations and policies, which may be based on total assets of the fund or other measurements, may include or exclude various categories of investments from those covered in the portfolio allocation categories shown in this report, and may be based on different classifications and measurements of the fund’s investments and other criteria.
References to specific sectors, securities or issuers are for illustrative purposes only. All holdings are subject to change daily. All share classes have the same portfolio but different expenses.

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Disclosures

Investors should consider the investment objectives, risks, charges and expenses of the funds carefully before investing. This and other information are contained in the fund’s prospectus and summary prospectus, if available, which may be obtained by contacting your investment professional or PIMCO representative. 
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. Certain U.S. Government securities are backed by the full faith of the government, obligations of U.S. Government agencies and authorities are supported by varying degrees but are generally not backed by the full faith of the U.S. Government; portfolios that invest in such securities are not guaranteed and will fluctuate in value. Investing in foreign denominated and/or domiciled securities may involve heightened risk due to currency fluctuations, and economic and political risks.
Money Market funds are not insured or guaranteed by FDIC or any other government agency and although such funds seek to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in Money Market funds. If there is a material difference between the quoted total return and the quoted current yield, the yield quotation more closely reflects the current earnings of the portfolio than the total return quotation. Yields computed by SEC-prescribed calculations and are subject to change.
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. No part of this material may be reproduced in any form, or referred to in any other publication, without express written permission.
PIMCO Investments LLC, distributor, 1633 Broadway, New York, NY 10019, is a company of PIMCO.