Morningstar® Investment Profile™   Morningstar®
for Print
PIMCO Dynamic Bond Instl
Release date as of 2022-05-31. Data on page is subject to change.
Snapshot Ratings & Risk Portfolio Nuts & Bolts
  Morningstar Report
Overall Morningstar
What is this?
As of 2022-05-31
Out of 300
Nontraditional Bond Funds
Style Box™
What is this?
As of 2022-03-31
Total Fund Assets ($ Mil)
View Historical Morningstar Star Ratings and Definitions
  Investment Objective & Strategy  
The investment seeks maximum long-term return, consistent with preservation of capital and prudent investment management.
The portfolio seeks to achieve its investment objective by investing under normal circumstances at least 80% of its assets in a diversified portfolio of Fixed Income Instruments of varying maturities, which may be represented by forwards or derivatives such as options, futures contracts, or swap agreements. "Fixed Income Instruments" include bonds, debt securities and other similar instruments issued by various U.S. and non-U.S. public- or private-sector entities.
  Morningstar Category: Nontraditional Bond
Inclusion in nontraditional bond is informed by a balance of factors determined by Morningstar analysts. Those typically include a mix of: absolute return mandates; goals of producing returns not correlated with the overall bond market; performance benchmarks based on ultrashort-term interest rates such as T-bills; the ability to take long and short market and security-level positions using a broad range of derivatives; and few or very limited portfolio constraints on exposure to credit, sectors, currency, or interest-rate sensitivity. Funds in this group typically have the flexibility to manage duration exposure over a wide range of years and to take it to zero or a negative value. 
  Investment Risks
There are no additional fund specific investment risks (e.g. liquidity risk, currency risk, foreign investment risk, etc.) associated with this fund beyond the normal risks generally associated with investing in a mutual fund.
  Portfolio Profile
Asset Allocation
% of Net Assets
U.S. Stocks 0.0
Non-U.S. Stocks 0.2
Bonds 132.5
Cash -36.3
Other 3.6
Total 100.0
Asset Allocation Long/Short/Net Graph
Data through 2022-03-31
Morningstar Fixed-Income Sectors
% Fund
Government 40.46
Corporate 9.22
Securitized 9.69
Municipal 0.07
Cash & Equivalents 21.88
Other 18.67
Data through 2022-03-31
Credit Analysis
% Bonds
AAA 50.63
AA 7.42
A 5.84
BBB 13.43
BB 6.64
B 3.50
Below B 12.55
Not Rated 0.00
Data through 2022-03-31
Credit Analysis Graph
Holding Status
Total Number of Stock Holdings 1
Total Number of Bond Holdings 245
% of Net Assets in Top 10 Holdings 61.13
Turnover % (as of 2021-12-31) 318.00
30 Day SEC Yield % 2.96
Top Holdings
% of Net
10 Year Treasury Note Future June 22 2022-06-22 --- 16,202 21.68
United States Treasury Notes 1.75% 1.75% 2022-09-30 5,700 5,720 7.65
5 Year Treasury Note Future June 22 2022-07-01 --- 5,613 7.51
Pimco Fds 2022-05-11 454 4,404 5.89
Fin Fut Us Ultra 30yr Cbt 06/21/22 2022-06-22 --- -3,009 4.03
United States Treasury Notes 2.75% 2.75% 2023-07-31 2,824 2,851 3.81
Long-Term Euro BTP Future June 22 2022-06-09 --- 2,616 3.50
Federal National Mortgage Association 2% 2% 2052-04-13 2,200 -2,042 2.73
South Africa (Republic of) 10.5% 10.5% 2026-12-21 22,000 1,643 2.20
Euro Bund Future June 22 2022-06-09 --- 1,589 2.13
Data through 2022-03-31
  Principal Risks   
Short Sale, Credit and Counterparty, Prepayment (Call), Currency, Emerging Markets, Foreign Securities, Loss of Money, Not FDIC Insured, Issuer, Interest Rate, Market/Market Volatility, Equity Securities, High-Yield Securities, Mortgage-Backed and Asset-Backed Securities, Other, Restricted/Illiquid Securities, Derivatives, Leverage, Sovereign Debt, Management
Show Risk Definitions
  Other Information
Inception Date: 2012-04-30
Portfolio Manager(s)
Mohit Mittal   (2022-01-01)
Mr. Mittal is a managing director and portfolio manager in the Newport Beach office, and a senior member of the liability driven investment and credit portfolio management teams. He manages multi-sector portfolios with added specialization in long credit, investment grade credit and unconstrained bond portfolios. He joined PIMCO in 2007 and holds an MBA from the Wharton School of the University of Pennsylvania and an undergraduate degree in computer science from Indian Institute of Technology (IIT) in Delhi, India.
Daniel J. Ivascyn   (2014-09-26)
Mr. Ivascyn is Group Chief Investment Officer and a managing director in the Newport Beach office. He is lead portfolio manager for the firm’s income strategies and credit hedge fund and mortgage opportunistic strategies. Prior to joining PIMCO in 1998, he worked at Bear Stearns in the asset-backed securities group, as well as T. Rowe Price and Fidelity Investments. He holds an MBA in analytic finance from the University of Chicago Graduate School of Business and a bachelor's degree in economics from Occidental College.
Marc P. Seidner   (2015-01-12)
Mr. Seidner is CIO Non-traditional Strategies, a managing director and head of portfolio management in the New York office. He is also a generalist portfolio manager and a member of the Investment Committee. He rejoined PIMCO in November 2014 after serving as head of fixed income at GMO LLC. Prior to joining PIMCO in 2009, he was a managing director and domestic fixed income portfolio manager at Harvard Management Company. Previously, he was director of active core strategies at Standish Mellon Asset Management. He holds an undergraduate degree in economics from Boston College.
Investment Advisor(s)
Pacific Investment Management Company, LLC
Show Data Definitions

© Copyright 2022 Morningstar, Inc.
All rights reserved. Morningstar, the Morningstar logo,, Morningstar Tools are either trademark or service marks of Morningstar, Inc. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or any losses arising from any use of information. Past performance is no guarantee of future performance.
Past performance is no guarantee of future results.
Returns will vary and shares may be worth more or less than their original cost when sold.