PIMCO Low Duration Income Fund
PFIIX
NASDAQ- -
USD
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Capital Structure
FRC
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- CEO
- Mohamed A. El-ErianBiography
- Sector
- Financial Services
- Industry
- Asset Management
- Address
- New York NY 10019 Newport Beach CA United States of America 92660
- IPO Date
- Aug 2, 2004
- CIK
- 0000810893
- Website
- pimco.com
- Similar Companies
- Business
- PIMCO Low Duration Income Fund Institutional Class (PFIIX) is an open-end mutual fund managed by PIMCO that seeks to maximize current income by investing at least 65% of its assets in a diversified, multi-sector fixed income portfolio featuring low duration securities with an effective duration of less than one year, including investment grade and limited high yield bonds (up to 30%), agency mortgage-backed securities, government-related bonds, asset-backed securities, U.S. and non-U.S. bonds, Treasury futures, short duration emerging market instruments, derivatives such as options, futures, forwards, and swaps, cash equivalents, and other short-term instruments. The fund emphasizes credit quality in the mid range with limited interest-rate sensitivity, primarily allocating to U.S. bonds (approximately 80%), non-U.S. bonds (18%), and sectors like agency mortgage-backed (60%), government related (59%), and asset-backed (22%); it is available to U.S. institutional investors with a minimum initial investment of $1 million and a net expense ratio of 0.53%. Launched on July 30, 2004, the fund is part of PIMCO's broader income strategies, managed by a team including Daniel Ivascyn (since 2016), Alfred Murata (since 2016), and Joshua Anderson (since 2022), with total net assets exceeding $16 billion and the institutional share class at about $5.87 billion as of recent data. Headquartered in Newport Beach, California, PIMCO, the fund's adviser founded in 1971 and a subsidiary of Allianz SE, operates globally across the Americas, Europe, and Asia-Pacific with over 3,100 employees in 22 offices, managing more than $2 trillion in assets focused on active fixed income strategies. PFIIX targets institutional investors seeking short-term bond exposure with competitive yields (recent trailing twelve-month dividend yield around 5.97%) and serves as a resilient income vehicle amid varying interest rate environments. In recent developments as of 2025, PIMCO has strategically repositioned its Income Fund portfolio—including adjustments mirrored in low duration strategies like PFIIX—by modestly increasing interest rate exposure at intermediate maturities, reducing credit beta amid tightening spreads, lowering emerging markets allocation in favor of higher-quality global fixed income opportunities such as Mexico, the Middle East, and South Africa, and enhancing liquidity for tactical flexibility amid U.S. fiscal policy shifts under the second Trump administration. While PFIIX itself has not undergone direct mergers, PIMCO completed major fund reorganizations in August 2025 involving six municipal income closed-end funds (e.g., PIMCO Municipal Income Fund II into PIMCO Municipal Income Fund) to streamline operations, cut costs, and boost efficiency, alongside a new June 2025 partnership with Aditum in the UAE to offer PIMCO Income strategies via locally registered feeder funds for wealth investors. These changes underscore PIMCO's focus on portfolio resilience, global expansion, and active management enhancements in a high-yield, uncertain environment.