PIMCO or Pacific Investment Management Company, LLC is a well-known global investment management firm. It offers a broad line-up 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 spectrum, it is best known for fixed income mutual funds. It boasts more than 2,800 employees across 12 countries and has trading operations in North America, Europe and Asia. The company had around $1.91 trillion of assets under management as of Dec 31, 2019.
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 funds.
PIMCO Senior Floating Rate Fund Class A PSRZX aims for high current income. The fund invests most of its assets in an actively managed portfolio of senior secured floating rate loans. It aims to offer risk-adjusted returns with a higher-quality orientation. PSRZX has three-year annualized returns of 3.8%.
PSRZX has an expense ratio of 1.05% compared with the category average of 1.07%.
PIMCO High Yield Fund Class A PHDAX aims for maximum total return. The fund invests the majority of its assets in a diversified portfolio of high-yield securities. It may also invest the minority of its assets in securities rated Caa or below by Moody's or rated likewise by the S&P or Fitch. If the security is unrated, PIMCO determines its quality. PHDAX has returned 5.9% in the past three years.
As of Sep 30, 2019, PHDAX held 811 issues, with 2.80% of its assets invested in Cdx Hy32 5y Ice.
PIMCO Preferred and Capital Securities Fund Class A PFANX aims for maximum total return. The fund invests the majority of its assets in a well-diversified portfolio of preferred securities and Capital Securities. Notably, Capital Securities are issued by U.S. and non-U.S. financial institutions. The fund may also invest a minority of its assets in common stocks. PFANX has three-year annualized returns of 9%.
Philippe Bodereau is the fund manager of PFANX since 2015.
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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