Fund Facts  

Inception Date: Jan 3, 1995
CUSIP: 693390767
Ticker Symbol: PLDAX
Morningstar Category:Short-Term Bond
As of Feb 28, 2017
Fund Net Assets ($millions) $9,058

Documents for Fund or Underlying Fund(s)  

Description

Objective  

The investment seeks maximum total return, consistent with preservation of capital and prudent investment management.

Principal Investment Strategies  

The fund seeks to achieve its investment objective by investing under normal circumstances at least 65% of its total assets in a diversified portfolio of Fixed Income Instruments of varying maturities, which may be represented by forwards or derivatives such as options, futures contracts, or swap agreements. "Fixed Income Instruments" include bonds, debt securities and other similar instruments issued by various U.S. and non-U.S. public- or private-sector entities.

Principal Investment Risks  

There is no guarantee that the Fund will achieve its investment objective. You may lose money by investing in the Fund. Please see the Fund’s prospectus or other disclosure documents for information about the Fund’s risks.

 

Performance & Expenses

Standard Performance As of Mar 31, 2017
Fund/Benchmark Name QtrYTD1-Yr3-Yr5-Yr10-YrSince Inception
PIMCO Low Durationa0.43%0.43%1.67%0.90%1.39%3.17%4.49%
BofA ML US 1-3 Year Treasury Indexa,b0.26%0.26%0.25%0.72%0.64%2.00%N/A
Morningstar Short-Term Bonda,c0.62%0.62%1.66%1.06%1.29%2.41%N/A

Fund past performance, as shown, is no guarantee of how the Fund will perform in the future. The performance shown has been annualized for periods greater than one year. Investment returns and principal value will fluctuate, so that an investor's shares, when redeemed, may be worth more or less than their original cost. For current performance, visit www.icmarc.org.

Fund performance is shown comparing it to a "benchmark" which may be a (i) broad-based securities market index (ii) a group of mutual funds with similar investment objectives, or (iii) a short term government backed debt obligation such as a U.S. Treasury Bill. An index is not available for direct investment, is unmanaged, and does not reflect the costs of portfolio management or trading. A fund's portfolio may differ from the securities held in an index.

Annual Fund Operating Expenses
Total Expensesa0.76%

An expense waiver or reimbursement is not included due to receipt of incomplete or inconsistent data. For additional information regarding the fund's fees including possible waivers please read the fund's prospectus.

 

a. Certain information including, but not limited to, benchmark performance or other performance and/or fee information, is provided by Morningstar, Inc., © 2017 All rights reserved. This information: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed and (3) is not warranted to be accurate, complete or timely. Neither Morningstar and/or its content providers are responsible for any damages or losses arising from any use of information. Morningstar is a registered trademark of Morningstar, Inc.

b. The BofA ML US 1-3 Year Treasury Index is an unmanaged index consisting of all public U.S. Treasury obligations having maturities from 1 to 2.99 years.

c. The Fund’s Morningstar Category Average is a group of funds with similar investment objectives and strategies and is the equal–weighted return of all funds per category. Morningstar places funds in certain categories based on a fund’s historical portfolio holdings.

Distributions

Dividends and Capital Gains  
Record Date Ex/Payable Date Income/Capital Gains Paid Per Share
Apr 1, 2017 to Apr 28, 2017Apr 28, 2017$0.016514422
Mar 1, 2017 to Mar 31, 2017Mar 31, 2017$0.019966495
Feb 1, 2017 to Feb 28, 2017Feb 28, 2017$0.016429632
Dec 31, 2016 to Jan 31, 2017Jan 31, 2017$0.014506980
Dec 1, 2016 to Dec 30, 2016Dec 30, 2016$0.018739145
Nov 1, 2016 to Nov 30, 2016Nov 30, 2016$0.021737953
Oct 1, 2016 to Oct 31, 2016Oct 31, 2016$0.016128951
Sep 1, 2016 to Sep 30, 2016Sep 30, 2016$0.005016930
Jul 30, 2016 to Aug 31, 2016Aug 31, 2016$0.019179743
Jul 1, 2016 to Jul 29, 2016Jul 29, 2016$0.022122113
Jun 1, 2016 to Jun 30, 2016Jun 30, 2016$0.023877938
Apr 30, 2016 to May 31, 2016May 31, 2016$0.022225295
Apr 1, 2016 to Apr 29, 2016Apr 29, 2016$0.017333979
Mar 1, 2016 to Mar 31, 2016Mar 31, 2016$0.020253832
Jan 30, 2016 to Feb 29, 2016Feb 29, 2016$0.007508595
Jan 1, 2016 to Jan 29, 2016Jan 29, 2016$0.009081162
Dec 1, 2015 to Dec 31, 2015Dec 31, 2015$0.020908694
Dec 29, 2015Dec 29, 2015$0.010100000
 

Morningstar Information

Morningstar RatingTM   As of Mar 31, 2017
Period Stars Category Size
Overall 4 Stars444
3-Year 3 Stars444
5-Year 3 Stars359
10-Year 4 Stars257

The Morningstar Rating™ for funds, or “star rating”, is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange–traded funds, closed–end funds, and separate accounts) with at least a three–year history. Exchange–traded funds and open–ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk–Adjusted Return measure that accounts for variation in a managed product′s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product 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 for a managed product is derived from a weighted average of the performance figures associated with its three–, five–, and 10–year (if applicable) Morningstar Rating metrics. The weights are: 100% three–year rating for 36–59 months of total returns, 60% five–year rating⁄40% three–year rating for 60–119 months of total returns, and 50% 10–year rating⁄30% five–year rating⁄20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.

Allocation of Assets As of Dec 31, 2016
Type of Asset Percent
Equity0%
Fixed Income111%
Cash/Other-11%

Due to rounding, percentages shown may not add up to 100%.

 
 

Characteristics

Allocation of Assets As of Dec 31, 2016
Asset ClassPercent
Domestic Stock0.0%
Foreign Stock0.0%
Domestic Bond93.1%
Foreign Bond17.7%
Preferred0.1%
Convertible0.0%
Cash-10.9%
Other0.0%

Due to rounding, percentages shown may not add up to 100%.

 
Fixed Income Sector As of Dec 31, 2016
SectorPercent
Securitized55.7%
Corporate39.6%
Government18.4%
Derivative0.8%
Municipal0.1%
Cash & Equivalents-14.8%

Exposure reflects fixed income securities only and will sum to the fixed income exposure of the fund.

 
Credit Quality As of Jun 30, 2015
Quality LevelPercent
AAA30.0%
AA18.0%
A25.0%
BBB20.0%
BB5.0%
B1.0%
Below B1.0%
Not Rated0.0%

Due to rounding, percentages shown may not add up to 100%. Exposure reflects fixed income securities only.

 
Top Ten Holdings As of Dec 31, 2016
Holding NamePercent
US Treasury Note11.3%
FNMA7.3%
FNMA5.0%
FNMA 4.5% TBA4.1%
FNMA 4% TBA3.9%
FNMA 4% TBA3.7%
FNMA3.4%
FNMA2.8%
FNMA2.5%
Brazil Federative Rep2.3%
 

Statistics

Duration and Maturity As of Jun 30, 2015
StatisticValue
Average Effective Duration1.99 years
Average Effective Maturity2.42 years
Portfolio Statistics As of Mar 31, 2017
Statistic3-Year5-Year
Beta0.481.02
Alpha0.460.75
Standard Deviation1.221.58
 
 

Footnotes

1.

Please read the fund's prospectus carefully for a complete summary of all fees, expenses, investment objectives and strategies, risks, financial highlights, and performance information. Investing involves risk, including possible loss of the amount invested. Investors should carefully consider the information contained in the prospectus before investing. You may contact us to obtain a prospectus or to answer questions by calling 800-669-7400, emailing investorservices@icmarc.org, or visiting www.icmarc.org.

The source for this information is Morningstar, Inc. Copyright © 2017 Morningstar, Inc.® All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (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. Morningstar, Inc. is a global investment research firm that is not affiliated with ICMA-RC. ICMA-RC does not independently verify Morningstar data.

Morningstar places funds in certain categories based on the fund's historical portfolio holdings. Placement of a fund in a particular Morningstar category does not mean that the fund will remain in that category or that it will invest primarily in securities consistent with its Morningstar category. A fund's investment strategy and portfolio holdings are governed by its prospectus, guidelines or other governing documents, not its Morningstar category.