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3 Top-Ranked PIMCO Mutual Funds for Impressive Returns
Founded in 1971, Pacific Investment Management Company, LLC or PIMCO is an internationally acclaimed investment management firm. The company provides a wide range of financial services across the globe with the help of more than 2,800 employees. PIMCO had around $1.92 trillion assets under management as of Jun 30, 2020.
PIMCO offers a broad line-up of investment solutions for the entire gamut of equities, bonds, currencies, real estate, alternative investments and risk management services. Though the firm manages an array of mutual funds, it is best known for those based on fixed income.
Below we share with you three top-ranked PIMCO mutual funds. Each has earned a Zacks Mutual Fund Rank #1 (Strong Buy) and is expected to outperform peers in the future. Investors can click here to see the complete list of funds.
PIMCO California Municipal Bond Fund Class A (PCTTX - Free Report) aims for high current income. The fund invests the majority of its assets in debt securities whose interest is exempted from federal and California income tax in the opinion of bond counsel for the issuer at the time of issuance. PCTTX has three-year annualized returns of 5.2%.
David Hammer is one of the fund managers of PCTTX since 2015.
PIMCO Fixed Income SHares: Series M (FXIMX - Free Report) fund aims for maximum total return along with the preservation of capital and prudent investment management. The fund invests the majority of its assets in a portfolio of domestic and foreign fixed income instruments of varying maturities that include mortgage- and other asset-backed securities, corporate debt securities and floating and variable rate debt instruments. FXIMX has returned 5.8% in the past three years.
FXIMX has an expense ratio of 0.06% compared with the category average of 1.01%.
PIMCO High Yield Fund Class A (PHDAX - Free Report) aims for maximum total return along with the preservation of capital and prudent investment management. The fund invests most of its assets in a diversified portfolio of high-yield securities. It may also invest a minority of its assets in securities rated Caa or below by Moody's or rated likewise by the S&P or Fitch. PHDAX has returned 3.8% in the past three years.
As of the end of March 2020, PHDAX held 828 issues, with 3.62% of its assets invested in Cdx Hy33 5y Ice.
To view the Zacks Rank and past performance of all PIMCO mutual funds, investors can click here to see the complete list of funds.
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