8/3/2019 Global Advantage Strategy Bond Fund Institutional

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COREASSET ALLOCATIONLTERNATIVES CREDIT EMERGING MARKETS EQUITY GLOBAL INFLATION PROTECTION TAX-EFFI

NSTITUTIONAL CLASS

As of June 30, 2011

Core Strategies

UND STATISTICS

Mohamed A. El-Erian

Ramin Toloui

Effective Duration (yrs) 4.21

Effective Maturity (yrs) 6.20

INVESTOR BENEFITS

THE FUND ADVANTAGE

PIMCO Global Advantage Strategy Bond Fund

FUND DESCRIPTION

AMSTERDAM I HONG KONG I LONDON I MUNICH I NEW YORK I NEWPORT BEACH I SINGAPORE I SYDNEY I TOKYO I TORONTO I ZU

The Global Advantage Strategy Bond Fund is an actively managed portfolio of fixed-incomesecurities from both developed and developing markets, benchmarked to both the proprieta

GDP-weighted Global Advantage Bond Index (GLADI) and Barclays Capital U.S. AggregaIndex. The Fund offers unhedged exposure to nominal and inflation-protected bonds, intereswaps, investment grade corporate securities, mortgage-backed securities and both externallocal currency denominated emerging market debt.

This Fund offers fixed-income investors a strategic platform for seizing opportunities produsecular shifts in the global economy. The Fund seeks to capitalize on the full range of new

instruments and opportunities and to tap into new engines of global economic growth.Potential benefits of this Fund include:

I First mover advantage due to strategic positioning where opportunities are likely to bewhere they have been

I Attractive risk-return characteristics of a multi-currency, multi-sector bond portfolioI Opportunity to benefit from active management driven by long-term, thematically focu

investment process

The Fund leverages PIMCOs long history of adding value through active management whipursuing the global bond market returns of GLADI. The GLADI offers a fundamentally newapproach to global bond investing, as it is forward-looking, has rebalancing advantages, and

avoids allocating too heavily to overpriced securities, government debt and large debt issueFund seeks to outperform its benchmark utilizing tactical and strategic asset allocation worlcross-sector relative value, and bottom up instrument and credit selection, leveraging off ofPIMCOs long-term oriented investment process and wealth of specialists across fixed-incomsectors and around the globe. A core allocation to the PIMCO Global Advantage Strategy BoFund may be beneficial as part of a diversified portfolio. International diversification in fixeincome investments, similar to equities, can provide potential for capital gains and improveadjusted returns due to the increased opportunity set available in the global markets. Due to

broadly diversified strategy the Fund could reduce overall portfolio volatility and provide aagainst risks in other asset classes. As with other core strategies, an allocation to the Fund mhelp to preserve investors capital while seeking to provide a steady source of income.

An allocation to PIMCO's fixed-income strategies may be beneficial as a core part of a balan

portfolio. Bonds can provide a steady source of income and, as part of a total-return strategypotentially produce capital gains as well. An allocation to a PIMCO fixed-income strategy inportfolio also can offer diversification and serve as a hedge against volatility and risks in othasset classes, particularly in times of economic uncertainty or deflation. Long-duration bond

be used to diversify a broader core allocation to fixed income and help an overall portfoliosto longer-term liabilities.

VALUE OF CORE STRATEGIES

PORTFOLIO MANAGER

For more information,

call your PIMCO

representative800-927-4648

Visit our web site for

a full menu of products

and services at

ww.pimco.com/investments Extended Global GNMA Government Income Long Duration Long-TermDuration Advantage Money Market Total Return U.S. Governm

Low Moderate Money Mortgage-Backed Short-Term Total Return UnconstrainedDuration Duration Market Securites Bond

uro Gov't Related 22

U.K. Gov't Related 4U.S. Gov't Related -9

Other Gov't Related 8

Mortgage 2

nvest. Grade Credit 25

High Yield Credit 3

merging Markets 25

Other 4

Net Cash Equivalents 16

ECTOR DIVERSIFICATION (%)

Market ValueWeighted

Ticker CUSIP Inception of Fund Fund AssePSAIX 72201M446 02/05/2009 $3.2 BN

North America 33

urope - EMU 45

United Kingdom 6

urope - Non-EMU 0

apan 3

Asia Pacific ex-Japan 2

merging Markets 12

EGIONAL ALLOCATION (%)

DurationWeighted

8/3/2019 Global Advantage Strategy Bond Fund Institutional

2/2

Since Incept.02/05/2009 2 yrs 1 yr 6 mos 3 mos

PIMCO Global Advantage Strategy Bond Fu

Total Annual Operating Expenses 0.70%

Dividend Frequency Daily Accrual

SEC 30-Day Yield (%) 2.66

ABOUT THE BENCHMARK

BASIC FACTS

PIMCO, founded in 1971, is a global investment solutions provider managing retirement and othassets for more than 8 million people in the U.S. and millions more around the world. Our clientsinclude state, local and union pension and retirement plans whose beneficiaries come from all wlife, including educators, healthcare workers and public safety employees. We also serve individinvestors, working in partnership with financial intermediaries such as Registered Investment A

broker/dealers, trust banks and insurance companies. We are advisors and asset managers to cebanks, corporations, universities, foundations and endowments. PIMCO has offices in North AmEurope, Asia and Australia and is owned by Allianz Global Investors, a subsidiary of the MunichAllianz Group, a leading global insurance company.

ABOUT PIMCO

erformance reflects changes in share price, reinvestment of dividends and capital gains distributions. All periods longer than one year are annualized.

ffective duration is the duration for a bond with an embedded option when the value is calculated to include the expected change in cash flow caused by the option as inteates change. Gov't Related may include nominal and inflation-protected Treasuries, agencies, interest rate swaps, Treasury futures and options, and FDIC-guaranteed corpoecurities.

A word about risk: Investing in foreign denominated and/or domiciled securities may involve heightened risk due to currency fluctuations, and economic and political risks,which may be enhanced in emerging markets. Mortgage and asset-backed securities may be sensitive to changes in interest rates, subject to early repayment risk, and theiralue may fluctuate in response to the markets perception of issuer creditworthiness; while generally supported by some form of government or private guarantee there is nssurance that private guarantors will meet their obligations. Sovereign securities are generally backed by the issuing government, obligations of U.S. Government agenciesuthorities are supported by varying degrees but are generally not backed by the full faith of the U.S. Government; portfolios that invest in such securities are not guaranteed

will fluctuate in value. Derivatives may involve certain costs and risks such as liquidity, interest rate, market, credit, management and the risk that a position could not be closwhen most advantageous. Investing in derivatives could lose more than the amount invested. The Fund is non-diversified, which means that it may concentrate its assets in amaller number of issuers than a diversified fund.

he value of most bond funds and fixed income securities are impacted by changes in interest rates. Bonds and bond funds with longer durations tend to be more sensitive amore volatile than securities with shorter durations; bond prices generally fall as interest rates rise.

ast rankings are no guarantee of future rankings. Rankings begin with the inception of the actual share class. Lipper does not take into account sales charges.

o part of this material may be reproduced in any form, or referred to in any other publication, without express written permission of Pacific Investment Management Compa

LC. 2011, PIMCO. PIMCO advised funds are distributed by PIMCO Investments LLC.

Benchmark Duration (yrs) 5.19

Benchmark 1

Barclays Capital U.S. Aggregate Index represents

ecurities that are SEC-registered, taxable, and

dollar denominated. The index covers the U.S.

nvestment grade fixed rate bond market, with

ndex components for government and corporate

ecurities, mortgage pass-through securities, and

sset-backed securities. These major sectors are

ubdivided into more specific indices that are cal-

ulated and reported on a regular basis. It is not

possible to invest directly in an unmanaged

ndex.

Benchmark 2

The PIMCO Global Advantage Bond Index

GLADI) (NY Close) is a diversified global index

hat covers a wide spectrum of global fixed

ncome opportunities and sectors, from devel-

oped to emerging markets, nominal to real asset,

nd cash to derivative instruments. Unlike tradi-

ional indices, which are frequently comprised of

bonds weight according to their market capital-

zation, GLADI uses GDP-weighting which puts

n emphasis on faster-growing areas of the worldnd thus makes the index forward looking in

nature. It is not possible to invest directly in an

unmanaged index.

NSTITUTIONAL CLASS

As of June 30, 2011

Benchmark 1 (%) 6.79 6.66 3.90 2.72 2.29

Benchmark 2 (%) 12.16 10.15 13.76 6.31 3.62

PERFORMANCE (net of fees)

Performance quoted represents past performance. Past performance is not a guarantee or a relia

cator of future results. Investment return and the principal value of an investment will fShares may be worth more or less than original cost when redeemed. Current performance mayor higher than performance shown. For performance current to the most recent month-ewww.PIMCO.com/investments or by calling (888) 87-PIMCO.

Investors should consider the investment objectives, risks, charges and expenses of the fucarefully before investing. This and other information are contained in the funds prospecsummary prospectus, if available, which may be obtained by contacting your PIMCO repretive. Please read them carefully before you invest or send money.

PIMCO Fund (%) 11.88 10.37 13.26 5.30 3.16

PERFORMANCE CHARACTERISTICS

1 yr

LIPPER RANKINGS* (Global Income Funds)

* Based on total return performance, with distributions reinvested, and operating expenses d

Fund Rank 29

No. of Funds 162

Quartile 1st