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PIMCO Emerging Markets Corporate Bond Fund Institutional Class

  • Symbol: PEMIX
  • Transaction Fee/Load Transaction Fee/Load 1  See Fidelity Fund Picks for no transaction fee alternatives
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Morningstar® Snapshot*

AS OF 03/31/2014; MORNINGSTAR CATEGORY: Emerging Markets Bond
Returns 3 out of 5, Average Returns
LOWAVGHIGH
Expenses 3 out of 5, Average Fees
LOWAVGHIGH
Risk of this Category Category Risk Rating:5, where 1 is Lower and 10 is Higher
LOWERHIGHER

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

Performance

2 More Information
AS OF 3/31/2014 ; *YTD AS OF 4/22/2014
YTD (Daily)* 1 Yr 3 Yr 5 Yr Life of Fund
YTD (Daily)* +2.05% 1 Yr -1.30% 3 Yr +4.84% 5 Yr -- Life of Fund +8.59%

Hypothetical Growth of $10,000

3, 4 More Information
AS OF 03/31/2014; MORNINGSTAR CATEGORY: Emerging Markets Bond
Shows growth of hypothetical $10,000 investment in PIMCO Emerging Markets Corporate Bond Fund Institutional Class compared to ,Emerging Markets Bond over the selected time period
PIMCO Emerging Markets Corporate Bond Fund Institutional Class
Emerging Markets Bond

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The performance data featured represents past performance, which is no guarantee of future results. Investment return and principal value of an investment will fluctuate; therefore, you may have a gain or loss when you sell your shares. Current performance may be higher or lower than the performance data quoted.

Fund Manager(s)

More Information
Michael Gomez since 9/20/2013

Fund Overview

Objective

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

Strategy

The fund invests at least 80% of its assets in a diversified portfolio of corporate Fixed Income Instruments that are economically tied to emerging market countries, which may be represented by forwards or derivatives such as options, futures contracts or swap agreements. It may invest in both investment-grade securities and junk bonds subject to a maximum of 20% of its total assets in securities rated below Ba by Moody's, or equivalently rated by S&P or Fitch, or, if unrated, determined by PIMCO to be of comparable quality.

Risk

Foreign securities are subject to interest-rate, currency-exchange-rate, economic, and political risks, all of which may be magnified in emerging markets. The fund may invest in lower-quality debt securities that involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. 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.

Additional Disclosures

A mutual fund registered under PIMCO Funds, and managed by Pacific Investment Management Co LLC. This description is only intended to provide a brief overview of the fund. Read the fund's prospectus for more detailed information about the fund.

Details

More Information
Morningstar Category Emerging Markets Bond
Fund Inception 7/1/2009
NAV
4/22/2014
$11.38
30-Day Yield 5
3/31/2014
3.94%
Weighted Avg MaturityGlossary definition opens in new window.
12/31/2013
6.38 years
DurationGlossary definition opens in new window.
12/31/2013
4.93 years
Exp Ratio (Gross)Glossary definition opens in new window.
8/8/2013
1.15%
($11.50 per $1000)
Exp Ratio (Net)Glossary definition opens in new window.
8/8/2013
1.15%
($11.50 per $1000)
Transaction Fee (Online) 1 $49.95
Minimum to Invest 6 $100,000.00
Turnover Rate
3/31/2013
105%
Net Assets ($M)
3/31/2014
$1,365.37
12 Month Low-High
3/31/2014
$11.09 - $12.28

Top 10 Holdings

7 More Information
AS OF 12/31/2013
Top 10 Holdings
Irs Usd 1.250 09/05/13-5y Cme 3.84%
Alliance Oil Co 144A 9.875% 2.40%
Fin Fut Us 10yr Cbt 03/20/14 1.90%
Alrosa Fin S A 144A 7.75% 1.88%
Irs Usd 1.450 09/05/13-5y Cme 1.83%
Zhaikmunai 144A 7.125% 1.79%
Polyus Gold Intl 144A 5.625% 1.75%
Afren 144A 11.5% 1.60%
Sb Cap Sa 5.18% 1.56%
Empresa Nacl De Tele 144A 4.875% 1.48%
% of Total Portfolio 20.04%
out of 365 holdings

Quarter-End Average Annual Total Returns

3, 2 More Information
AS OF 3/31/2014; *FUND INCEPTION 7/1/2009

EXPENSE RATIO (GROSS):Glossary definition opens in new window.
1.15% AS OF 8/8/2013
1 Yr 3 Yr 5 Yr 10 Yr Life of Fund*
Before TaxesGlossary definition opens in new window.
PIMCO Emerging Markets Corporate Bond Fund Institutional Class -1.30% 4.84% -- -- 8.59%
After Taxes on DistributionsGlossary definition opens in new window.
PIMCO Emerging Markets Corporate Bond Fund Institutional Class -3.46% 2.96% -- -- 6.44%
After taxes on distributions and sale of fund sharesGlossary definition opens in new window.
PIMCO Emerging Markets Corporate Bond Fund Institutional Class -0.63% 3.00% -- -- 5.90%

Read more about after-tax returns.

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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.

1. Transaction Fee:

A transaction fee is similar to a brokerage fee or commission which you pay when you buy or sell a stock. For some funds available through Fidelity you are required to pay a transaction fee. However, you will not pay a sales load on Transaction Fee (TF) funds. You will only be charged a transaction fee when you buy a FundsNetwork TF fund, not when you sell one. All other fees and expenses described in a fund's prospectus still apply. You can choose to buy or sell shares directly from the fund itself or its principal underwriter or distributor without paying a transaction fee to Fidelity.

Online Transaction Fees: $49.95 for most funds. Certain funds will have a transaction fee of $75. To identify any applicable transaction fees associated with the purchase of a given fund, please refer to the "Fees and Distributions" tab.

Fidelity Automated Service Telephone (FAST): 25% off representative-assisted rates, Maximum: $187.50, Minimum:$75
Representative-Assisted: 0.75% of principal, Maximum: $250, Minimum: $100
Automatic Investment: $5 per transaction, after the initial investment.

Sales load:

A sales charge added to the price of the fund. Funds have different sales charge structures, including front-end loads, back-end loads (deferred), and no loads. Sales loads can either be charged when a fund is purchased, commonly known as a front-end load, or when a fund is sold, known as a deferred load. Not all funds charge a load. Refer to the Loads, Expense and Minimums section of the fund's prospectus for details on these amounts. Although no load funds do not have a front-end or deferred load, they may incur other fees, such as a 12b-1 fee.

2. Total returns are historical and include change in share value and reinvestment of dividends and capital gains, if any. Cumulative total returns are reported as of the period indicated. Life of fund figures are reported as of the commencement date to the period indicated and are cumulative if the fund is less than one year old. Total returns do not reflect the fund's [%] sales charge. If sales charges were included, total returns would have been lower.

3. The Morningstar Category Average is the average return for the peer group based on the returns of each individual fund within the group, for the period shown. This average assumes reinvestment of dividends.

4. This chart illustrates the performance of a hypothetical $10,000 investment made in this investment product (and a benchmark or category average, if shown) from the beginning date shown or on the inception date of the product (whichever is later). The inception date used for products with underlying funds, or multiple shares classes, or are offered as a separate account, strategy or sub account, may be the inception date of the underlying fund, the earliest share class of the product, or the date composite performance for the product was first made available. The product's returns may not reflect all its expenses. Any fees not reflected would lower the returns. Benchmark returns include reinvestment of capital gains and dividends, if any, but do not reflect any fees or expenses. It is not possible to invest in an index. Past performance is no guarantee of future results. This chart is not intended to imply any future performance of the investment product.

5. A standard yield calculation developed by the Securities and Exchange Commission for bond funds. The yield is calculated by dividing the net investment income per share earned during the 30-day period by the maximum offering price per share on the last day of the period. The yield figure reflects the dividends and interest earned during the 30-day period, after the deduction of the fund's expenses. It is sometimes referred to as "SEC 30-Day Yield" or "standardized yield".

6. Initial minimum investments into group retirement accounts such as Fidelity Simplified Employee Pension-IRA, Keogh, Self-Employed 401(k), and Non-Fidelity Prototype Retirement accounts are $500 or higher. Additional investments into Regular, IRA, and Group accounts are $250 or higher.

7. Any holdings, asset allocation, diversification breakdowns or other composition data shown are as of the date indicated and are subject to change at any time. They may not be representative of the fund's current or future investments. Some breakdowns may be intentionally limited to a particular asset class or other subset of the fund's entire portfolio, particularly in multi-asset class funds where the attributes of the equity and fixed income portions are different.

Under the asset allocation section, international (or foreign) assets may be reported differently depending on how an investment options reports its holdings. Some do not report international (or foreign) holdings here, but instead report them in a "Regional Diversification" section. Some report them in this section as an to the equity, bond and other allocation shown. Others report international (or foreign) holding as a subset of the equity and bond allocations shown. If the allocation without the foreign component (or round to) 100%, then international (or foreign) is a subset of the equity and bond percentage shown.

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