PIMCO VIT Real Return

  • Trading Symbol: FPNBC
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Morningstar® Snapshot*

AS OF 7/31/2014; MORNINGSTAR CATEGORY: INFLATION-PROTECTED BOND
Returns 5 out of 5, High Returns
LOW AVG HIGH
Risk of this Category Category Risk Rating:4, where 1 is Lower and 10 is Higher
LOWER HIGHER

*All data provided by Morningstar. Please click on each indicator above to learn more about comparison groups and methodology.

Performance

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AS OF 7/31/2014
Average Annual Returns
YTD (Daily)* 1 Yr 3 Yr 5 Yr Life
FPNBC +6.88% +3.83% +2.40% -- +5.29%
*AS OF 8/27/2014; Value is cumulative
SUBACCOUNT INCEPTION 9/30/2009

Hypothetical Growth of $10,000

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AS OF 07/31/2014; MORNINGSTAR CATEGORY: INFLATION-PROTECTED BOND
Shows growth of hypothetical $10,000 investment in PIMCO VIT Real Return fund over the selected time period

The chart illustrates the performance of a hypothetical $10,000 investment made in the fund ten years ago or on commencement of operations (whichever is later). Figures include reinvestment of capital gains and dividends, and reflect the effects of the annual annuity charge and the underlying fund's expenses. Figures do not reflect the effects of any applicable redemption fees, maintenance charges, or surrender fees, which would lower these figures. This chart is not intended to imply any future performance of the fund.

The performance data featured represents past performance, which is no guarantee of future results. Investment returns and the principal value of a variable annuity will fluctuate; therefore, you may have a gain or loss when money is withdrawn or received. Fund performance fluctuates and currently may be significantly higher or lower than stated.

Fund Manager(s)

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Mihir P. Worah since 12/31/2007

Fund Overview

Objective

The investment seeks maximum real return, consistent with preservation of real capital and prudent investment management.

Strategy

The Portfolio normally invests at least 80% of its net assets in inflation-indexed bonds of varying maturities issued by the U.S. and non-U.S. governments, their agencies or instrumentalities and corporations, which may be represented by forwards or derivatives such as options, futures contracts or swap agreements. It invests primarily in investment grade securities, but may invest up to 10% of its total assets in high yield securities ("junk bonds") rated B or higher. The fund is non-diversified.

Risk

The interest payments of TIPS are variable, they generally rise with inflation and fall with deflation. In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible. Additional risk information for this product may be found in the prospectus or other product materials, if available.

Details

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Morningstar Category
Inflation-Protected Bond
Subaccount Inception
9/30/2009
Unit Value
$12.98
8/27/2014
4/30/2014
Turnover Rate
34%
12/31/2013
Net Assets ($M)
$124.21
7/31/2014
12 Month Low-High
$11.95 - $13.01
7/31/2014

Top 10 Holdings

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AS OF 3/31/2014
Top 10 Holdings
US Treasury TIP 0.13% 07/15/2022 11.13%
US TREASURY TIP 2.38% 01/15/2025 6.97%
US Treasury TIP 0.125% 6.82%
US Treasury TIP 0.63% 07/15/2021 6.26%
US Treasury TIP 1.25% 6.10%
5 Year US Treasury Note Future June14 6.08%
US Treasury TIP 0.13% 04/15/2016 5.67%
US TREASURY TIP 3.88% 04/15/2029 5.04%
US Treasury TIP 2% 4.95%
US Treasury TIP 2.375% 4.94%
% of Total Portfolio 63.95%
Total # of holdings: 387 as of 3/31/2014

Quarter-End Average Annual Total Returns

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AS OF 6/30/2014; *SUBACCOUNT INCEPTION 9/30/2009 Glossary definition opens in new window.

EXPENSE RATIO (GROSS):
0.7% AS OF 4/30/2014
1 Yr 3 Yr 5 Yr 10 Yr Life*
PIMCO VIT Real Return 5.03% 3.51% -- -- 5.39%

© 2012 Morningstar, Inc. All rights reserved. The Morningstar information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or redistributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Fidelity does not review the Morningstar data and, for fund performance, you should check the fund's current prospectus or other product materials for the most up-to-date information concerning applicable loads, fees and expenses.