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PCRIX PIMCO Commodity Real Ret Strat Instl

  • Fund
  • PCRIX
  • Price as of: Dec 06, 2016
  • $7.21
  • - $0.02
  • - 0.28%
  • Category
  • Diversified Portfolio

PCRIX - Profile

Vitals

  • YTD Return 14.3%
  • 3 Yr Annualized Return -11.9%
  • 5 Yr Annualized Return -9.9%
  • Net Assets $6.46 B
  • Holdings in Top 10 101.3%

52 WEEK LOW AND HIGH

$7.21
$5.81
$7.36

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.08%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 111.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$1,000,000

IRA

N/A

Investment Themes

CATEGORY

Diversified Portfolio
  • Fund Type Open End Mutual Fund
  • Investment Style Commodities Broad Basket

Distributions

  • YTD Total Return 15.2%
  • 3 Yr Annualized Total Return -11.9%
  • 5 Yr Annualized Total Return -9.9%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.07%
DIVIDENDS
  • Dividend Yield 0.1%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name PIMCO Commodity Real Return Strategy Fund
  • Fund Family Name PIMCO
  • Inception Date Jun 28, 2002
  • Shares Outstanding N/A
  • Share Class Inst
  • Currency USD
  • Domiciled Country United States
  • Manager Mihir P. Worah

Fund Description

The PIMCO Commodity RealReturn Strategy Fund Institutional Class (PCRIX) is a low-cost, actively managed fund that is designed to seek real return (meaning after inflation). The fund does this by betting on commodities futures via the Bloomberg Commodity Index Total Return, an index of futures contracts on 20 physical commodities. PCRIX collateralizes its futures positions with Treasury Inflation-Protected Securities (TIPS), which have inflation-linked coupons. The fund aims to provide a return that beats inflation over time.

Given the fund’s focus on real return after inflation, PCRIX makes for an ideal core position in a portfolio as the commodity anchor. The fund is managed by Pacific Investment Management Company.

PCRIX - Performance

Return Ranking - Trailing

Period PCRIX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 14.3% -66.0% 23.3% 1.16% 1
1 Yr 8.4% -37.1% 45.9% 4.48% 1
3 Yr -11.9% * -13.0% 11.8% 98.08% 5
5 Yr -9.9% * -11.0% 13.7% 98.12% 5
10 Yr -4.4% * -5.5% 8.1% 97.50% 5

* Annualized


Return Ranking - Calendar

Period PCRIX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -29.6% -37.7% 48.7% 87.01% 5
2014 -18.4% -59.3% 14.8% 85.00% 5
2013 -17.3% -17.5% 36.4% 86.86% 5
2012 1.5% -16.2% 18.4% 82.65% 5
2011 -29.6% -30.5% 7.4% 85.81% 5

Total Return Ranking - Trailing

Period PCRIX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 15.2% -65.8% 32.0% 1.86% 1
1 Yr 8.4% -40.3% 73.2% 5.72% 1
3 Yr -11.9% * -14.0% 28.2% 98.39% 5
5 Yr -9.9% * -11.4% 13.7% 98.56% 5
10 Yr -4.4% * -5.5% 8.1% 97.99% 5

* Annualized


Total Return Ranking - Calendar

Period PCRIX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -23.6% -29.3% 50.4% 94.73% 5
2014 -19.4% -54.8% 25.4% 95.21% 5
2013 -16.1% -16.7% 57.2% 96.07% 5
2012 6.0% -16.2% 74.5% 87.27% 5
2011 -9.2% -25.3% 15.8% 92.86% 5

NAV & Total Return History

PCRIX - Holdings

Filings data as of: Sep 30, 2016

Concentration Analysis

PCRIX Category Low Category High PCRIX % Rank Quintile
Net Assets 6.46 B 81.4 K 100 B 1.78% 1
Number of Holdings 639 1 12494 4.90% 1
Net Assets in Top 10 1.97 B -654 M 20.2 B 3.02% 1
Weighting of Top 10 101.3% 0.2% 816.2% 1.10% 1

Top 10 Holdings

  1. US Treasury Note 23.27%
  2. Pimco Cayman Cmdty Fd Ltd Instl 19.46%
  3. Irs Usd 2.40000 03/16/21-5y Cme 10.10%
  4. Fin Fut Us 2yr Cbt 12/30/16 9.47%
  5. Irs Usd 2.50000 02/22/21-5y Cme 8.44%
  6. Irs Usd 2.80000 10/28/20-5y Cme 7.82%
  7. US Treasury Note 7.47%
  8. Fin Fut Us 10yr Cbt 12/20/16 6.72%
  9. US Treasury TIP 1.25% 4.96%
  10. US Treasury Note 3.56%

Asset Allocation

Weighting Category Low Category High PCRIX % Rank Quintile
Bonds
58.73% -41.48% 861.65% 5.03% 1
Other
21.23% -15.48% 99.72% 1.46% 1
Cash
19.96% -794.77% 139.25% 6.32% 1
Preferred Stocks
0.07% -0.92% 35.22% 8.56% 3
Convertible Bonds
0.00% 0.00% 33.12% 7.46% 4
Stocks
0.00% -49.32% 151.04% 33.21% 5

Bond Sector Breakdown

Weighting Category Low Category High PCRIX % Rank Quintile
Government
45.35% -91.64% 806.44% 1.01% 1
Cash & Equivalents
24.46% -794.84% 138.37% 4.71% 1
Securitized
10.42% -0.01% 40.54% 8.88% 2
Corporate
3.85% 0.00% 90.42% 27.37% 5
Municipal
0.17% 0.00% 91.28% 7.00% 2
Derivative
-5.93% -84.53% 32.28% 7.32% 5

Bond Geographic Breakdown

Weighting Category Low Category High PCRIX % Rank Quintile
US
55.21% -154.38% 699.68% 2.70% 1
Non US
3.52% -57.44% 198.64% 18.17% 4

PCRIX - Expenses

Operational Fees

PCRIX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 1.08% 0.00% 165.34% 14.10% 3
Management Fee 0.74% 0.00% 2.55% 2.52% 4
12b-1 Fee N/A 0.00% 1.00% N/A N/A
Administrative Fee 0.25% 0.00% 0.83% 1.15% 5

Sales Fees

PCRIX Fees (% of AUM) Category Low Category High PCRIX Rank Quintile
Front Load N/A 0.14% 5.75% N/A N/A
Deferred Load N/A 0.75% 5.50% N/A N/A

Trading Fees

PCRIX Fees (% of AUM) Category Low Category High PCRIX Rank Quintile
Max Redemption Fee N/A 0.11% 2.00% N/A N/A

Turnover Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

PCRIX Fees (% of AUM) Category Low Category High PCRIX Rank Quintile
Turnover 111.00% 0.00% 5609.00% 6.83% 4

PCRIX - Distributions

Dividend Yield Analysis

PCRIX Category Low Category High PCRIX % Rank Quintile
Dividend Yield 0.1% 0.00% 11.33% 49.84% 4

Dividend Distribution Analysis

PCRIX Category Low Category High Category Mode
Dividend Distribution Frequency Quarterly Annually Monthly Annually

Dividend Payout History


Net Income Ratio Analysis

PCRIX Category Low Category High PCRIX % Rank Quintile
Net Income Ratio 2.07% -2.96% 9.94% 10.26% 2

Capital Gain Distribution Analysis

PCRIX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Daily Annually

PCRIX - Managers

Mihir P. Worah

Manager

Start Date

Dec 31, 2007

Tenure

8.92

Tenure Rank

2.7%

Mr. Worah is CIO Asset Allocation and Real Return and a managing director in the Newport Beach office. He is a member of the Investment Committee and the Executive Committee, and oversees portfolio management for the U.S. He is a generalist portfolio manager who manages a variety of fixed income, commodity and multi-asset portfolios. Prior to joining PIMCO in 2001, he was a postdoctoral research associate at the University of California, Berkeley, and the Stanford Linear Accelerator Center, where he built models to explain the difference between matter and anti-matter. In 2012 he co-authored “Intelligent Commodity Indexing,” published by McGraw-Hill. He holds a Ph.D. in theoretical physics from the University of Chicago.


Jeremie Banet

Manager

Start Date

Jan 02, 2015

Tenure

1.91

Tenure Rank

7.1%

Jeremie Banet, Executive Vice President, PIMCO. Mr. Banet first joined PIMCO in 2011 and rejoined the firm in 2014. He is a portfolio manager on the real return team. Prior to joining PIMCO, he worked on U.S. inflation trading at Nomura. Previously he was with BNP Paribas, most recently as head of U.S. inflation trading. Mr. Banet holds a Masters in Applied Economics.


Nicholas J. Johnson

Manager

Start Date

Jan 02, 2015

Tenure

1.91

Tenure Rank

7.1%

Managing Director, PIMCO. Mr. Anderson is a portfolio manager focusing on global structured credit investments. Prior to joining PIMCO in 2003, he was an analyst at Merrill Lynch covering both the residential ABS and collateralized debt obligation sectors and was ranked as one of the top analysts by Institutional investor magazine. He was previously a portfolio manager at Merrill Lynch Investment Managers.


Tenure Analysis

Category Low

0.0

Category High

35.9

Category Average

5.47

Category Mode

1.9