PIMCO or Pacific Investment Management Company, LLC is a well-known global investment management firm. It offers a broad lineup of investment solutions that encompass the entire gamut of equities, bonds, currencies, real estates, alternative investments and risk management.
Though the firm manages a large number of mutual funds across a wide range, it is best known for fixed income mutual funds. It boasts more than 2,200 employees working in 12 countries and trading operations in North America, Europe and Asia. The company had around $1.71 trillion of assets under management as of Jun 30, 2018.
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 its peers in the future. Investors can click here to see the complete list of PIMCO funds.
PIMCO Municipal Bond A (PMLAX - Free Report) seeks a high level of income free from federal income tax as well as preservation of capital. PMLAX invests the bulk of its assets in debt securities whose interest is exempted from federal income tax like muni bonds. The fund may also invest around one-fifth of its assets in money market instruments and U.S. government securities. PIMCO Municipal Bond A has three-year annualized returns of 3.9%.
As of June 2018, PMLAX held 244 issues, with 2.25% of its assets invested in DE KALB CNTY GA 5.25%.
PIMCO Mortgage-Backed Securities A (PMRAX - Free Report) 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 three-year annualized returns of 2.1%.
Daniel Herbert Hyman is one of the fund managers of PMRAX since 2012.
PIMCO CommoditiesPLUS Strategy A (PCLAX - Free Report) seeks to offer returns higher than that of its benchmark. PCLAX invests a large chunk of its assets in commodity-linked derivative securities supported by low volatility and an actively managed portfolio of Fixed Income Instruments. The fund invests heavily in fixed income securities like debt securities and bonds issued by domestic and foreign companies. PIMCO CommoditiesPLUS Strategy A has three-year annualized returns of 4.3%.
PCLAX has an expense ratio of 1.22% compared with the category average of 1.27%.
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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