RAE Fundamental PLUS International Fund

PTSIX

Updated Sep 1, 2015

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  • DAILY NAV
    $7.97
  • DAILY YTD RETURN
    -8.16%
  • CLASS
    Equities
  • FUND INCEPTION DATE
    09/30/2011
  • TOTAL NET ASSETS
    $981 MM
    (as of 07/31/2015)
  • TOTAL NET ASSETS
    $981 MM
    (as of 07/31/2015)
  • TICKER
    PTSIX
  • CLASS
    Equities

Objective

Seeks total return which exceeds that of the MSCI EAFE Index

Primary Portfolio

RAE Fundamental International Large portfolio derivatives backed by an actively managed portfolio of fixed income securities with an absolute return orientation

Overview

Fund Overview

Smart beta-based equity exposure, designed to outperform

The fund offers access to Research Affiliates Equity (RAE) Fundamental, a smart beta-based equity strategy designed to outperform the MSCI EAFE Index, plus an additional, complementary source of alpha potential.

Why Invest In This Fund

An alternative to traditional passive and active equity investing

RAE Fundamental selects and weights developed market (ex-U.S.) stocks based on non-price measures of company size. Additional return and diversification potential is provided by a complementary absolute return bond alpha strategy. This unique approach allows the fund to retain key attributes of passive equity indexing, while also seeking to deliver meaningful market outperformance.

Smart beta-based, actively enhanced equity exposure PLUS

Equity portfolio construction is based on Research Affiliate’s smart beta approach, RAFI Fundamental Index, which weights stocks based on non-price measures of company size. In addition, active insights are incorporated with the goal of achieving superior risk-adjusted returns. As the fund gains full exposure to RAE Fundamental using equity-linked instruments at a money market-based cost, the goal absolute return bond alpha strategy is to outperform this cost – thereby providing RAE Fundamental exposure “PLUS” additional alpha and diversification potential.

Award-winning performance

The fund benefits from exposure to the proprietary, smart beta-based RAE Fundamental strategy and PIMCO’s time-tested approach to managing “PLUS” strategies. PIMCO has been recognized by Lipper as Best Group Large Equity multiple times for the consistently strong risk-adjusted performance of its equity “PLUS” strategies.

Our Expertise

PIMCO helped pioneer the innovative StocksPLUS strategy in 1986 – the same award-winning approach used across our “PLUS” portfolios, which capitalizes on the depth and breadth of PIMCO’s global resources. Research Affiliates introduced fundamental indexes to the marketplace in 2005 and is broadly recognized as a premier provider of and thought leader behind smart beta. Today, we manage RAE “PLUS” portfolios across a range of objectives and market exposures.

PRIMARY BENCHMARK

MSCI EAFE Net Dividend Index (USD Unhedged)

PRIMARY BENCHMARK DESCRIPTION

MSCI EAFE Net Dividend Index (USD Unhedged) is an unmanaged index of issuers in countries of Europe, Australia, and the Far East represented in U.S. Dollars on a unhedged basis. It is not possible to invest directly in the index.

DIVIDEND FREQUENCY

Quarterly

SHARE CLASS INCEPTION

09/30/2011

CUSIP

72201W667

Managers

Robert Arnott

Founder and Chairman, Research Affiliates

View Profile

Yields & Distributions

Historical Prices & Distributions

Distribution Yield (At NAV)1 as of 6/30/2015 3.06%
30 - Day SEC Yield2 as of 7/31/2015 2.07%
30 - Day SEC Yield2 as of 9/1/2015 -
Latest Dividend Distribution ($ Share)3 as of 6/18/2015 $0.06617
Dividend Distribution (YTD)4 as of 6/18/2015 $0.10628
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.
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 0.83%
Net Operating Expenses Ex-interest5 0.82%
Fees & Expenses Footnotes & Disclosures

disclosures

5Ex-interest expenses reflect the accounting treatment of certain investments (e.g., reverse repurchase agreements) but do not reflect actual expenses paid to PIMCO.

Prices & Performance

Daily Statistics

All data as of 9/1/2015

NAV $7.97 One Day Return -3.04%
Daily Change $-0.25 Daily YTD Return -8.16%
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
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 9/30/2011 to 7/31/2015 = $15,995

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.
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.

Portfolio Composition

All data as of unless otherwise stated

Regional Diversification - Index
Market Value %6

EMEA 66.02
Japan 22.55
Asia/Pacific Ex Japan 11.26
North America 0.16
Latin America 0.02

Summary Characteristics - Index
Market Value %6

Stocks in Portfolios 899
P/E Ratio (Forward) 16.34
Median Market Cap ($US MM) 31,879.02
P/E Ratio (Trailing) 17.52
Weighted Avg Market Cap ($US MM) 52,701.48

Top 5 GICS Sector - Index
Market Value %6

Financials 26.19
Consumer Discretionary 13.06
Industrials 12.49
Health Care 11.76
Consumer Staples 11.27

Risk Characteristics
(Trailing 3 Years)

Standard Deviation 14.02
Sharpe Ratio 0.94
Information Ratio 0.22
Tracking Error7 4.69

Regional Diversification - RAE
Market Value %6

EMEA 63.70
Japan 17.50
Asia/Pacific Ex Japan 9.87
North America 8.89
Latin America 0.04

Summary Characteristics - RAE
Market Value %6

Stocks in Portfolios 858
P/E Ratio (Forward) 14.62
Median Market Cap ($US MM) 28,844.38
P/E Ratio (Trailing) 15.96
Weighted Avg Market Cap ($US MM) 45,915.90

Top 5 GICS Sector - RAE Market Value %6

Financials 30.08
Industrials 10.77
Energy 10.35
Telecommunication Services 8.91
Materials 8.21

Sector Allocation - Duration in Years

US Government Related8 -1.16
Mortgage -0.08
Invest. Grade Credit 0.53
High Yield Credit 0.13
Non-USD Developed -0.30
Emerging Markets9 0.96
Municipal/Other10 0.28
Net Other Short Duration Instruments11 -1.06
Portfolio Composition Footnotes & Disclosures

disclosures

6RAE equity statistics are for the RAE Fundamental International Large model portfolio, which the Fund replicated via total return swaps. Cap equity statistics are for the MSCI EAFE Net Dividend Index (USD Unhedged), the Fund's benchmark.
7Tracking error, a measure of risk, is defined as the standard deviation of the portfolio's excess return vs. the benchmark expressed in percent.
8May include nominal and inflation-protected Treasuries, Treasury futures and options, agencies, FDIC-guaranteed and government-guaranteed corporate securities, and interest rate swaps.
9Short duration emerging markets instruments includes an emerging market security or other instrument economically tied to an emerging market country by country of risk with an effective duration less than one year and rated investment grade or higher or if unrated, determined to be similar quality by PIMCO. Emerging Markets includes the value of short duration emerging markets instruments previously reported in another category.
10May include municipals, convertibles, preferreds, and yankee bonds.
11Net Other Short Duration Instruments includes securities and other instruments (except instruments tied to emerging markets by country of risk) with an effective duration less than one year and rated investment grade or higher or, if unrated, determined by PIMCO to be of comparable quality, commingled liquidity funds, uninvested cash, interest receivables, net unsettled trades, broker money, short duration derivatives (for example Eurodollar futures) and derivatives offsets. With respect to certain categories of short duration securities, the Adviser reserves the discretion to require a minimum credit rating higher than investment grade for inclusion in this category. Derivatives Offsets includes offsets associated with investments in futures, swaps and other derivatives. Such offsets may be taken at the notional value of the derivative position which in certain instances may exceed the actual amount owed on such positions.
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.  Click here for a complete list of the PIMCO Funds prospectuses and summary prospectuses. Please read them carefully before you invest or send money.
A word about risk:

In managing the strategy’s investments in Fixed Income Instruments, PIMCO utilizes an absolute return approach; the absolute return approach does not apply to the equity index replicating component of the strategy. Absolute return portfolios may not fully participate in strong positive market rallies. 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. Investing in the bond market is subject to certain risks including market, interest-rate, issuer, credit, and inflation risk; investments may be worth more or less than the original cost when redeemed. 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.
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.