PIMCO Floating Income InstlPFIIX

Morningstar Rating

Fund Research and Analysis

by Eric Jacobson

It will be difficult for PIMCO Floating Income to top its current success, but it's likely to get even more attention in the future.

The fund has staged a fantastic comeback. It was stung in 2008 thanks to a strategic focus on high yield (though manager Read more

Kudos

Advisor PIMCO is among the best in the business at running complex strategies like the one this fund employs.

The fund's strategy allows shareholders to invest in pure credit exposure while nearly eliminating interest-rate risk, making it a useful diversifier for some bond portfolios. Read more

Risks

The fund takes on significant credit risk.

Its retail share classes are pricey. Read more

Strategy

This fund uses the three-month LIBOR as its benchmark but measures its performance against a blended custom index of emerging-markets, U.S. high yield and global credit exposure. The fund seeks to remove Read more

Management

Curtis Mewbourne is a managing director at PIMCO and the chairman of the firm's Shadow Investment Committee. He is a credit specialist and manages both Total Return and Credit portfolios. He joined PIMCO in 1999, having spent the previous seven years Read more

Inside Scoop

The goal of this fund is to generate high returns by investing in credit-sensitive securities that boast virtually no interest-rate risk. Read more

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