PIMCO Fds, High Yield Municipal Bond Fund Insti Class
PHMIX
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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.- Sector
- Financial Services
- Industry
- Asset Management - Bonds
- Address
- PIMCO Investments LLC distributor MA United States of America
- IPO Date
- Aug 1, 2006
- CIK
- 0000810893
- Website
- pimco.com
- Similar Companies
- Business
- PIMCO Fds: High Yield Municipal Bond Fund Institutional Class (PHMIX) is a mutual fund managed by Pacific Investment Management Company LLC (PIMCO), focusing on high yield municipal bonds to generate tax-exempt income. The fund invests primarily in high-yield, below-investment-grade municipal securities, including revenue bonds, general obligation bonds, and notes issued by U.S. states, territories, and local governments; it also employs derivative instruments such as futures, options, and swaps for hedging and income enhancement. PIMCO offers this institutional share class with low expense ratios targeted at qualified institutional investors seeking high current income exempt from federal income tax, with secondary objectives of total return and capital preservation. Founded in 1971 and headquartered in Newport Beach, California, PIMCO operates globally across North America, Europe, Asia-Pacific, and other regions, managing over $2 trillion in assets through a range of fixed income strategies. The fund's portfolio emphasizes non-investment grade debt from sectors like healthcare, transportation, water and sewer, education, and housing, with flexible duration management and sector allocation to navigate credit and interest rate risks. Recent developments include PIMCO's strategic enhancements to its municipal bond offerings amid rising yields in 2024-2025, such as expanded use of private credit municipal investments and tactical allocations to insured bonds following market volatility from Federal Reserve rate adjustments. In late 2024, PIMCO announced portfolio manager transitions within its high yield team to bolster expertise in distressed municipal debt restructuring, alongside a new partnership with municipal bond insurers to improve yield capture in a higher-rate environment. No major fund reorganizations or name changes have occurred, but the strategy has shifted toward greater emphasis on sustainable infrastructure bonds in response to regulatory changes in green municipal financing.