Strategy Overview

PIMCO global bond strategies are actively managed to maximize total return potential while minimizing any increase in risk relative to the market benchmark. The dynamics of global fixed income markets represent a rich opportunity for tangible diversification and potential for better risk-adjusted returns over time.

Disclosures

Past performance is not a guarantee or a reliable indicator of future results. All investments contain risk and may lose value. Investing in foreigndenominated and/or domiciled securities may involve heightened risk due to currency fluctuations, and economic and political risks, which may be enhancedin emerging markets. Investing in the bond market is subject to risks, including market, interest rate, issuer, credit, inflation risk, and liquidity risk. The value of most bonds and bond strategies are impacted by changes in interest rates. Bonds and bond strategies with longer durations tend to be more sensitive and volatile than those with shorter durations; bond prices generally fall as interest rates rise, and the current low interest rate environment increases this risk. Current reductions in bond counterparty capacity may contribute to decreased market liquidity and increased price volatility. Bond investments may be worth more or less than the original cost when redeemed. High-yield, lower-rated, securities involve greater risk than higher-rated securities; portfolios that invest in them may be subject to greater levels ofcredit and liquidity risk than portfolios that do not. Inflation-linked bonds (ILBs) issued by a government are fixed-income securities whose principalvalue is periodically adjusted according to the rate of inflation; ILBs decline in value when real interest rates rise. PIMCO strategies utilizederivatives which may involve certain costs and risks such as liquidity, interest rate, market, credit, management and the risk that a position could notbe closed when most advantageous. Investing in derivatives could lose more than the amount invested. There is no guarantee that these investment strategieswill work under all market conditions or are suitable for all investors and each investor should evaluate their ability to invest long-term, especiallyduring periods of downturn in the market. Diversification does not ensure against loss. Investors should consult their investment professional prior to making an investment decision.

JPMorgan GBI Global is an unmanaged market index representative of the total return performance of major world bond markets. The PIMCO Global AdvantageBond Index (GLADI) is a diversified global index that covers a wide spectrum of global fixed income opportunities and sectors, from developed to emergingmarkets, nominal to real assets, and cash to derivative instruments. Unlike traditional indices, which are frequently comprised of bonds weighted accordingto their market capitalization, GLADI uses GDP-weighting which puts an emphasis on faster-growing areas of the world and thus makes the indexforward-looking in nature. It is not possible to invest directly in an unmanaged index.


This material contains the current opinions of the manager and such opinions are subject to change without notice. This material has been distributed forinformational purposes only and should not be considered as investment advice or a recommendation of any particular security, strategy or investmentproduct.