Fund Facts  

Inception Date: Sep 7, 1994
Ticker Symbol: PTRAX
Morningstar Category:Intermediate-Term Bond
As of Feb 29, 2016
Fund Net Assets ($millions) $87,839

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 invests 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. It invests primarily in investment-grade debt securities, but may invest up to 10% of its total assets in high yield securities. It may invest up to 30% of its total assets in securities denominated in foreign currencies, and may invest beyond this limit in U.S. dollar-denominated securities of foreign issuers.

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 Risk Glossary for additional information about the Fund’s risks.

 

Performance & Expenses

Standard Performance As of Mar 31, 2016
Fund/Benchmark Name QtrYTD1-Yr3-Yr5-Yr10-YrSince Inception
PIMCO Total Return Admina1.73%1.73%0.06%1.27%3.40%5.74%6.52%
Barclays U.S. Aggregate Bond Indexa,b3.03%3.03%1.96%2.50%3.78%4.90%N/A
Morningstar Intermediate-Term Bonda,c2.50%2.50%0.65%1.88%3.53%4.50%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 expensesa0.71%

 

a. Returns and/or expenses provided by Morningstar, Inc. Copyright © 2016. 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. ICMA-RC does not independently verify Morningstar data.

b. The Barclays U.S. Aggregate Bond Index consists of investment-grade U.S. fixed income securities.

c. The Morningstar Category Average is the equal-weighted average return of all funds per category, as identified by Morningstar, Inc.

Morningstar Information

Morningstar Rating   As of Mar 31, 2016
Period Stars Category Size
Overall 4 Stars951
3-Year 2 Stars951
5-Year 3 Stars827
10-Year 5 Stars602

For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating™ based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, fee waivers, and redemption fees), placing more emphasis on downward variations and rewarding 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 for a fund is derived from a weighted average of the performance figures associated with its three-, five- and ten-year (if applicable) Morningstar Rating metrics. For funds with loads, the Morningstar rating on a load-waived basis is provided, when available. Load-waived ratings do not include any front- or back-end sales loads and are intended for investors that have access to such purchase terms. Funds with loads are waived for plans administered by ICMA-RC. Past performance is no guarantee of future results.

Allocation of Assets As of Dec 31, 2015
Type of Asset Percent
Equity0%
Fixed Income91%
Cash/Other9%

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

 
 

Characteristics

Allocation of Assets As of Dec 31, 2015
Asset ClassPercent
Domestic Stock0.0%
Foreign Stock0.0%
Domestic Bond80.7%
Foreign Bond9.3%
Preferred0.5%
Convertible0.0%
Cash5.7%
Other3.7%

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

 
Fixed Income Sector As of Dec 31, 2015
SectorPercent
Cash & Equivalents84.7%
Securitized49.9%
Government15.9%
Corporate15.8%
Municipal3.6%
Derivative-74.8%

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
AAA59.0%
AA10.0%
A11.0%
BBB14.0%
BB2.0%
B1.0%
Below B3.0%
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, 2015
Holding NamePercent
Fin Fut Us 5yr Cbt 03/31/1613.8%
Irs Mxn 3.61000 12/21/15-0y* Cme11.9%
Irs Usd 2.75000 12/16/15-30y Cme11.2%
FNMA 4% TBA7.7%
Irs Usd 1.75000 05/06/16-2y Cme5.6%
US Treasury Bond 3.125%5.3%
Irs Usd 2.50000 12/16/15-10y Lch5.0%
Irs Usd 2.25000 12/16/15-7y Lch4.3%
FNMA4.2%
US Treasury Note 2.25%3.7%
 

Statistics

Duration and Maturity As of Jun 30, 2015
StatisticValue
Average Effective Duration4.59 years
Average Effective Maturity6.55 years
Portfolio Statistics As of Mar 31, 2016
Statistic3-Year5-Year
Beta1.151.02
Alpha-1.54-0.39
Standard Deviation3.843.68
 
 

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 © 2016 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.