FAQs


Answers to questions about our products and services

Frequently Asked Questions

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About Mutual Funds

How do I invest in PIMCO Funds?

A, C and D Shares
Talk to your financial advisor about how to invest in our funds. He or she is best equipped to help you choose the most appropriate investment options based on your personal goals, and can help you open an account. If you wish to purchase class A and C shares directly, without the help of a financial advisor, you must review a prospectus, complete an application and send it to us for processing. The prospectus is available on the Mutual Fund Literature page under the Resources section and account applications are available on the Forms and Applications page under the Resources section.

To invest in class D shares, you must contact your financial advisor, as PIMCO Funds does not sell this share classes directly.

Generally, the minimum initial investment for class A, C and D shares is $1,000 per fund for both individual retirement and non-retirement accounts. However, the initial fund minimum is lowered to $250 per fund if you establish an Automatic Investment Plan (AIP). The minimum for subsequent purchases is $50 per fund. For additional assistance about opening an account in these share classes, please contact a Client Service Representative at 800.426.0107.

Institutional, Administrative and P Shares
The minimum initial investment for Institutional, Administrative and P shares is $1 million per account. However, that initial investment minimum may be modified for certain financial intermediaries. If you wish to purchase Institutional and Administrative shares directly, without the help of a financial advisor, you must review a prospectus, complete an application and send it to us for processing. The prospectus is available on the Mutual Fund Literature page under the Resources section and account applications are available on the Forms and Applications page under the Resources section.

To invest in class P shares, you must contact your financial advisor, as PIMCO Funds does not sell this share classes directly.

For additional assistance about opening an account in these share classes, please contact a Client Service Representative at 800.927.4648.

What are the differences in share classes?

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, class C, and class D 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 os $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 D shares

  • Do not have an initial sales charge or a contingent deferred sales charge.
  • Cannot be purchased and held directly with PIMCO Funds. These shares are offered through financial service firms, such as broker/dealers or registered investment advisors.

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, D 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 class, Administrative class, class M or class P shares is $1,000,000 per account.

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.

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 P shares

  • 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 class P shares. These entities may purchase class P 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.

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 the Institutional class, Administrative class, class M or class P shares, please call 800.927.4648 between the hours of 9 a.m. and 7 p.m. EST.

How do I exchange shares between funds?

A, B, C, D and R Shareholders
If your account is held directly with PIMCO Funds, you can contact a Client Service Representative at 800.426.0107 to initiate the exchange within your account. Additionally PIMCO’s Account Access, an online tool for accessing your account, now provides eligible clients who invest in A or C shares with the ability to perform online transactions, including exchanges, within their accounts. If your account is held at a brokerage firm, please contact your financial advisor for more information about exchanging fund shares.

What is the minimum needed to open a mutual fund account?

Generally the minimum initial investment required to open a PIMCO Funds retail account in class A, class C or class D 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 for subsequent purchases is generally $50 per fund. There are no initial or subsequent investment minimums for class R shares. The minimum initial investment for Institutional, Administrative, M and P shares is $1 million per account. However, that initial investment minimum may be modified for certain financial intermediaries that submit trades on behalf of underlying investors.

For a summary of the minimum initial investment and minimum subsequent investment for each type of account, please refer to the Statement of Additional Information.

General Investment Questions

Where can I find performance information for the funds?

Performance for the calendar, 1-, 3-, 5- and 10-year periods and since inception is available on this website. After selecting a fund using the drop-down menu on the right-hand side of the homepage, you will be redirected to that fund’s homepage. Performance information is available on the ‘Performance’ tab.

You may also visit our Mutual Funds page under the Products section where you will have daily, month-end, and quarter-end performance figures for all of the PIMCO Funds. This is available on the Price and Performance tab.

Where can I find current and historical dividend rates and/or current and historical prices (NAV) for the PIMCO funds?

Current and historic dividend rates and price information is available on our website. After selecting a fund using the drop-down menu on the right-hand side of the homepage, you will be redirected to that fund’s homepage. Current dividend rates are available on the ‘Performance’ tab. The Historical Data link will give you access to historical prices and dividends.

When do funds pay dividends/capital gains?

A dividend and capital gains calendar, providing important dates relative to future payments, can be found under the Resources section, on the Tax Center page of our website.

How can I get more information on a particular fund, such as duration, maturity, sector breakdown, risk analysis, and a complete list of portfolio holdings?

After selecting a fund using the drop-down menu on the right-hand side of the homepage, you will be redirected to that fund’s homepage. All of this information can be found on the ‘Portfolio’ tab.

Where do I go for investment advice?

A, B, C, D and R Shareholders
PIMCO Funds does not provide investment advice or have an advisor referral service. Shareholders should speak directly with their own financial advisors for information about which investment options might be right for them.

Can I conduct online account transactions?

Retail clients
A, B and C Shareholders

Yes. PIMCO’s Account Access now provides eligible clients with existing accounts invested in A, B or C shares with the ability to perform online transactions, including fund purchases, exchanges and redemptions. Additionally, registered users can quickly and conveniently view account statements, retrieve tax information, view personal fund performance and the performance of other PIMCO funds. Visit pimco.com/MyAccountAccess to get started.

Sales Charge Calculation - Illustration of Sales Charge Rounding

The sales charges reflected on investor statements may differ from the percentages listed in the prospectus. This difference is due to rounding. The illustration below demonstrates how to calculate a sales charge. The calculation can result in an assessed sales charge that is less or greater than the percentages quoted in the prospectus for funds with a front-end sales charge.

Illustration

Sale Charge Calculation

Step 1: Calculating the Public Offering Price (POP)

Divide the Net Asset Value (NAV) by 100 % minus the sales charge – this amount (price) is rounded to two decimals

POP =
NAV per share
100% - Sales Charge %

Step 2: Calculating Shares Purchased

Divide the Investment Amount by the Public Offering Price – this amount (shares) is rounded to three decimals

Shares Purchased =
Investment Amount
Public Offering Price (POP)

Step 3: Calculating Account Balance

Multiply shares purchased by the NAV

Account Balance = Shares Purchased x NAV

Step 4: Calculating the Assessed Sales Charge

Subtract the Account Balance from the Investment Amount Divide this amount by the Initial Investment Amount – this amount (sales charge) is rounded to two decimals

Assessed Sales Charge =
Investment Amount - Account Balance
Initial Investment Amount

Sale Charge Rounding

Scenario: Investor initiates a $10,000 purchase into Class A shares of a hypothetical PIMCO Fund
Results: Assessed sales charge greater than amount quoted in the prospectus.
Investment Amount Prospectus Sales Charge NAV
$10,000 5.5% $11.09
Calculations
Public Offering Price: $11.74 Calculated as $ 11.09/(1-0.0550) = $ 11.7354497 1
Shares Purchased: 851.789 Calculated as $ 10,000/$ 11.74 = 851.788756 2
Account Balance: $9,446.34 Calculated as 851.789 x $ 11.09 = $9,446.34
Assessed Sales Charge: 5.54% Calculated as $ 10,000 - $ 9,446.34 = $ 553.66
$ 553.66/$ 10,000 = 5.5366% 3
Sales charge investor actually paid: 5.54%  
Rounding summary
1 This amount (price) is rounded to $ 11.74
2 This amount (shares) is rounded to 851.789
3 This number (%) is rounded to 5.54 %
Scenario: Investor initiates a $10,000 purchase into Class A shares of a hypothetical PIMCO Fund (Schedule A1)
Results: Assessed sales charge less than amount quoted in the prospectus.
Investment Amount Prospectus Sales Charge NAV
$10,000 5.5% $12.07
Calculations
Public Offering Price: $12.77 Calculated as $ 12.07/(1-0.0550) = $ 12.77249 1
Shares Purchased: 783.085 Calculated as $ 10,000/$ 12.77 = 783.0854 2
Account Balance: $9,451.84 Calculated as 783.085 x $ 12.07 = $ 9,451.836 3
Assessed Sales Charge: 5.48% Calculated as $ 10,000 - $ 9,451.84 = $ 548.16
$ 548.16 /$ 10,000 = 5.4816 %4
Sales charge investor actually paid: 5.48%  
Rounding summary
1 This amount (price) is rounded to $ 12.77
2 This amount (shares) is rounded to 783.085
3 This amount is rounded to $ 9,451.84
4 This number (%) is rounded to 5.48 %

Literature

Where can I find a prospectus, fund literature, and account forms and applications?

PIMCO fund prospectuses and other fund literature can be found on the Mutual Fund Literature page under the Resources section.

Historical fund prospectuses are available on the Securities and Exchange Commission’s website, sec.gov, and can be accessed by utilizing the EDGAR database.

Account forms and applications are available on the Forms and Applications page under the Resources section.

Statement and Account Information

Where can I find tax information?

Current and historical tax information for the PIMCO funds are available on the Tax Center page under the Resources section of this website.

May I receive my statements electronically?

If your account is held directly with us, you may download account statements and view transaction history on our website. After clicking on Account Access on the top-right of the homepage, please follow the simple directions to register for online account access.

Please note that we are required to provide all direct shareholders with account statements and transaction confirmations. At this time, however, we do not have the ability to send out statements electronically. Therefore, even if you register to view your account statements online, you will continue to receive hard copies of these documents via mail.

If your statement was prepared by a broker/dealer, please contact them directly to obtain the requested information.

How do I sign up for eDelivery of shareholder documents?

You may elect to receive documents related to your account, such as annual/semi-annual reports, prospectuses, proxy statements and newsletters, via internet delivery by clicking on the link below. Shareholders with direct accounts should click on “Direct Shareholders” and those with accounts held with brokerage firms should click on “Brokerage Account Shareholders.” After making the appropriate selection, please follow the instructions provided.

www.pimco.com/edelivery

About Closed-end Funds

What is a closed-end fund?

A closed-end fund is a type of registered investment company that issues a fixed number of common shares which typically are listed on a stock exchange. Once issued, a closed-end fund’s common shares are bought and sold in the open (i.e., secondary) market and have a fluctuating market share price. The common share market price may be higher or lower than the fund’s net asset value (NAV) (i.e., a market premium or discount). The fund’s NAV per share reflects the value of the underlying securities in its portfolio.

How do I purchase a PIMCO Closed-End Fund?

Investors may purchase shares of a closed-end investment in the secondary market, on an exchange, the same way an investor would buy a stock. We do not sell closed-end fund shares directly. We recommend that you speak with your financial advisor to determine how best to execute a purchase of shares.

What is the difference between NAV and market price?

The NAV of a closed-end fund is calculated by subtracting the fund’s liabilities (e.g., fund expenses) from the current market value of the assets within its portfolio and dividing that by the total number of shares outstanding. This means that the NAV changes as the total value of the underlying portfolio’s securities changes.

A closed-end fund’s market price is based solely on market demand (supply and demand), which goes beyond the control of the fund manager.

The difference between a fund’s NAV and market price indicates whether a fund is trading at a premium or discount.

Where can I find the reset rates for the ARPS?

Reset rates for the PIMCO Auction Rate Preferred Securities are available on our website, pimco.com/closedendfunds. Updated reset rates are posted every Monday for the prior week. For your convenience we have provided a direct link to this information:

For your convenience we have provided a direct link to:ARP Rates

General Investment Questions

Where can I find performance information for a specific PIMCO Closed-End Fund?

Performance information is available on our website, pimco.com/closedendfunds.

If you are interested in obtaining performance information for a specific fund please select the fund you are interested in under Find a Fund. From there you will be redirected to that fund’s homepage. Performance information is available on the Performance tab.

Please consult your financial advisor for general advice and insight about making an investment as he or she can most appropriately discuss specific investment options available to you. PIMCO Funds does not have its own financial advisors or offer a referral service.

How does your DRIP policy work?

What is a Section 19 Notice? How do I locate a Section 19 Notice?

Section 19 of the Investment Company Act of 1940 requires registered investment companies (including closed-end funds) to include a notice with the payment of a dividend if a portion of that dividend comes from sources other than undistributed net income. Other common sources from which dividends could be paid include capital gains and non-taxable return of capital. This means that a fund that pays a dividend that includes the return of capital or capital gains would be required to provide a notice, but a fund whose distribution consists solely of undistributed net investment income would not require a notice. As a result, a Section 19 Notice generally does not accompany every dividend payment, and the need to send such a notice is determined by the fund.

To find out if a fund has issued a Section 19 Notice, please select the appropriate fund under Find a Find and click on the Documents tab. The latest Section 19 Notices, if applicable, will be posted here.

Literature

How to find literature for a specific closed-end fund

Please note that unlike with a mutual fund prospectus, a closed-end fund prospectus is generally not updated and therefore may contain stale data. Rather than referring to the prospectuses, we recommend that you access the semi-annual and annual reports for current fund information.

Fund literature for the PIMCO Closed-End Funds is available on our website, pimco.com/closedendfunds. After selecting the appropriate fund under Find a Fund, you will be redirected to that fund’s homepage. Fund literature is available on the Documents tab.

If you wish to still access the prospectus for fund, please scroll to the bottom of the Documents page and click on the Section 16 Filing link. This will bring you to the EDGAR database on the Securities and Exchange Commission’s website.

When are press releases issued for a fund and where can I locate one?

Please note that anytime a PIMCO Closed-End Fund declares a distribution, details will be posted on our website,pimco.com/closedendfunds, in the form of a press release. To access current and historical press releases, please select the appropriate fund under Find a Fund. From there you will be redirected to that fund’s homepage. A link to current and historical press releases is available on the bottom of that page.

You may also access press releases by clicking on Resources and then Closed-End Funds. Press releases are available on the Press Releases tab. For your convenience we have provided a direct link to this page below:

pimco.com/resources/product-resources/cef-press-releases

Press releases are posted to our website on the date in which a distribution is declared. Please note that corporate actions and changes to investment objectives or portfolio managers would also trigger a press release.

Information About ARPS

Statement and Account Information

eDelivery of regulatory documents for the PIMCO Closed-End Funds

As a PIMCO Closed-End Funds shareholder, you may elect to receive communications relative to your account, such as annual/semi-annual reports, via internet delivery. To do so, please click on the link below. Shareholders with direct accounts should then click on the “Direct Shareholders” link, while shareholders with accounts held with a brokerage firm should click on the “Brokerage Account Shareholders” link.
www.pimco.com/edelivery

Online account access

If your account is held direct and you are interested in viewing your account, initiating a transaction or making changes to your account, please visit amstock.com. After clicking on Corporate & Shareholder login, please click on Shareholder Account Access under Shareholder Services. After registering or logging into your account, you will be brought to a menu which will allow you to facilitate the appropriate request.

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