The investment seeks high current income exempt from federal income tax, consistent with preservation of capital; capital appreciation is a secondary objective. The fund normally invests at least 80% of its assets in debt securities whose interest is, in the opinion of bond counsel for the issuer at the time of issuance, exempt from federal income tax ("Municipal Bonds"). It may invest up to 20% of its net assets in U.S. government securities, money market instruments and/or "private activity" bonds. The average portfolio duration of this fund normally varies from three to ten years, based on PIMCO's forecast for interest rates.
Fund filings (PDF) »
Joseph Deane (Started: Jul 21, 2011)
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PIMCO, 840 Newport Center Drive, Suite 100, Newport Beach, CA 92660, USA