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Pacific Investment Management Company, LLC (commonly known as PIMCO) is a renowned investment management firm, headquartered in Newport Beach, California. The company was founded in 1971. In 2000, the company was acquired by Allianz Asset Management of America L.P. However, it continues to operate as an autonomous subsidiary of Allianz ( OTCQX:AZSEY ). It boasts more than 2,000 employees working in 13 offices across 12 countries. It manages assets worth $1.52 trillion (as of June 30, 2015). It offers a broad lineup of investment solutions to its clients that encompass the entire gamut of equities, bonds, currencies, real estates, alternative investments and risk management. Below we share with you the 3 top-rated PIMCO mutual funds. Each has earned a Zacks Mutual Fund Rank #1 (Strong Buy) and we expect the fund to outperform its peers in the future. PIMCO High Yield Municipal Bond Fund A (MUTF: PYMAX ) invests a major portion of its assets in debt obligations that are expected to provide income that are free from federal income tax. PYMAX may invest in investment grade municipal bonds and not more than 30% of its assets in “private activity” bonds. The PIMCO High Yield Municipal Bond A fund has returned 5.2% in the last one year. PYMAX has an expense ratio of 0.85% as compared to a category average of 0.97%. PIMCO Mortgage-Backed Securities Fund A (MUTF: PMRAX ) seeks total return. PMRAX invests a large portion of its assets in a diversified portfolio of mortgage-related Fixed Income Instruments. PMRAX may also invest in derivative instruments including options, futures contracts and swap agreements. The PIMCO Mortgage-Backed Securities A fund has returned 1.9% in the last one year. As of June 2015, PMRAX held 550 issues, with 11.28% of its total assets invested in FNMA. PIMCO Global Bond (USD-Hedged) Fund A (MUTF: PAIIX ) invests the majority of its assets in Fixed Income Instruments that are economically linked to a minimum of three nations including the U.S. PAIIX generally invests at least 25% of its assets in Fixed Income Instruments, which are economically tied to non-U.S. countries. PAIIX may also invest in derivative instruments. The PIMCO Global Bond (USD-Hedged) A is a non-diversified fund and has returned 1.5% in the last one year. PAIIX has an expense ratio of 0.90% as compared to a category average of 1.03%. Original Post Scalper1 News
Scalper1 News