PIMCO Extended Duration Fund Institutional Cl
PEDIX
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- PIMCO Extended Duration Fund Institutional Class (PEDIX) is an open-end mutual fund that seeks maximum total return, consistent with prudent investment management, by investing under normal circumstances at least 65% of its total assets in a diversified portfolio of fixed income instruments with extended duration, including U.S. Treasury securities, Treasury futures such as Ultra 10 Year US Treasury Note Futures and US Treasury Bond Futures, interest rate swaps like RFR USD SOFR, stripped principal and interest securities, agency mortgage-backed securities, government-related bonds, asset-backed securities, commercial mortgage-backed securities, and non-agency residential mortgage-backed securities; the fund employs derivatives for hedging and leverage, resulting in high interest-rate sensitivity and a portfolio allocation heavily weighted toward U.S. bonds (97.58%), government sectors (over 200%), and cash equivalents. Launched on 31 August 2006 and domiciled in the United States, PEDIX targets institutional investors with a minimum initial investment of $1,000,000, maintains total net assets of approximately $398 million, and features a net expense ratio of 6.20% with daily pricing. The fund is managed by PIMCO, a global leader in active fixed income founded in 1971 and headquartered in Newport Beach, California, with operations across the Americas, Europe, Asia-Pacific, and the Middle East. In recent developments, portfolio manager Tim Crowley joined the team on 2 June 2025, enhancing management amid ongoing interest rate volatility; PIMCO as advisor announced proposed reorganizations of several closed-end funds in April 2025 expected to complete by August 2025, launched four new fixed income ETFs in Australia in February 2025, formed a strategic partnership with Aditum in June 2025 to offer Income strategies in the UAE, partnered with KKR for a Harley-Davidson financing deal in July 2025, secured a $29 billion private credit deal with Meta in August 2025, and raised over $7 billion for a new asset-based finance strategy in December 2025.