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PCRIX PIMCO Commodity Real Ret Strat Instl

  • Fund
  • PCRIX
  • Price as of: Aug 08, 2016
  • $6.91
  • + $0.04
  • + 0.58%
  • Category
  • Diversified Portfolio

PCRIX - Profile

Vitals

  • YTD Return 9.5%
  • 3 Yr Annualized Return -13.0%
  • 5 Yr Annualized Return -12.3%
  • Net Assets $6.24 B
  • Holdings in Top 10 112.1%

52 WEEK LOW AND HIGH

$6.91
$5.81
$7.53

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 9.5%
  • 3 Yr Annualized Total Return -13.0%
  • 5 Yr Annualized Total Return -12.3%
  • 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 9.5% -65.8% 22.5% 4.15% 1
1 Yr -8.1% -30.1% 18.0% 94.05% 5
3 Yr -13.0% * -14.0% 12.6% 98.58% 5
5 Yr -12.3% * -13.4% 12.2% 98.74% 5
10 Yr -4.5% * -5.6% 9.0% 98.33% 5

* Annualized


Return Ranking - Calendar

Period PCRIX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 40.8% -61.2% 48.7% 0.20% 1
2014 N/A -11.0% 4.5% N/A N/A
2013 N/A -11.5% 25.9% N/A N/A
2012 N/A 5.1% 15.7% N/A N/A
2011 N/A -7.3% 5.7% N/A N/A

Total Return Ranking - Trailing

Period PCRIX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 9.5% -65.8% 22.5% 4.20% 1
1 Yr -8.1% -30.1% 17.0% 92.36% 5
3 Yr -13.0% * -15.0% 12.6% 98.37% 5
5 Yr -12.3% * -13.7% 12.2% 98.93% 5
10 Yr -4.5% * -5.6% 9.0% 98.01% 5

* Annualized


Total Return Ranking - Calendar

Period PCRIX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 40.8% -61.2% 48.7% 0.20% 1
2014 N/A -11.0% 9.6% N/A N/A
2013 N/A -4.1% 29.6% N/A N/A
2012 N/A 7.8% 20.7% N/A N/A
2011 N/A -3.5% 11.7% N/A N/A

NAV & Total Return History

PCRIX - Holdings

Filings data as of: Mar 31, 2016

Concentration Analysis

PCRIX Category Low Category High PCRIX % Rank Quintile
Net Assets 6.24 B 81.4 K 99.6 B 1.55% 1
Number of Holdings 552 1 12089 4.99% 2
Net Assets in Top 10 2.08 B -654 M 19.5 B 2.24% 1
Weighting of Top 10 112.1% 0.0% 246.1% 0.55% 1

Top 10 Holdings

  1. Pimco Cayman Cmdty Fd Ltd Instl 27.31%
  2. US Treasury Note 18.49%
  3. Irs Usd 2.40000 03/16/21-5y Cme 13.61%
  4. US Treasury Note 11.49%
  5. Irs Usd 2.50000 02/22/21-5y Cme 9.97%
  6. Irs Usd 2.80000 10/28/20-5y Cme 9.38%
  7. Fin Fut Us 5yr Cbt 06/30/16 7.66%
  8. US Treasury TIP 1.25% 6.43%
  9. Irs Gbp 1.50000 09/21/16-10y Cme 4.28%
  10. US Treasury Note 3.53%

Asset Allocation

Weighting Category Low Category High PCRIX % Rank Quintile
Bonds
61.64% -0.39% 98.35% 2.56% 1
Other
28.44% -9.98% 131.62% 1.01% 1
Cash
9.73% -80.76% 100.06% 12.77% 3
Preferred Stocks
0.19% -0.04% 36.35% 8.24% 2
Convertible Bonds
0.00% 0.00% 33.12% 6.86% 4
Stocks
0.00% -3.90% 139.24% 30.70% 5

Bond Sector Breakdown

Weighting Category Low Category High PCRIX % Rank Quintile
Government
48.56% -160.96% 76.37% 0.55% 1
Cash & Equivalents
28.83% -80.82% 157.26% 4.30% 1
Securitized
9.25% -0.01% 42.26% 9.79% 2
Corporate
4.49% 0.00% 93.84% 25.03% 5
Municipal
0.19% 0.00% 137.36% 6.73% 2
Derivative
-19.93% -84.53% 22.60% 7.60% 5

Bond Geographic Breakdown

Weighting Category Low Category High PCRIX % Rank Quintile
US
56.26% -31.85% 93.68% 1.83% 1
Non US
5.38% -57.44% 70.46% 11.85% 3

PCRIX - Expenses

Operational Fees

PCRIX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 1.08% 0.00% 165.34% 14.15% 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% 5473.00% 6.83% 4

PCRIX - Distributions

Dividend Yield Analysis

PCRIX Category Low Category High PCRIX % Rank Quintile
Dividend Yield 0.1% 0.00% 11.33% 49.78% 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% 9.98% 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

8.59

Tenure Rank

2.1%

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

1.58

Tenure Rank

6.0%

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

1.58

Tenure Rank

6.0%

Mr. Johnson is an executive vice president in the Newport Beach office and a portfolio manager focusing on commodities. He joined PIMCO in 2004 and previously managed the portfolio analyst group. Prior to joining PIMCO, he worked at NASA's Jet Propulsion Laboratory, developing Mars missions and new methods of autonomous navigation. In 2012 he co-authored “Intelligent Commodity Indexing,” published by McGraw-Hill. He has nine years of investment experience and holds a master’s degree in financial mathematics from the University of Chicago and an undergraduate degree from California Polytechnic State University.


Tenure Analysis

Category Low

0.0

Category High

35.5

Category Average

5.28

Category Mode

1.6