Pimco prepares to launch new Pimco Short Asset Investment Fund

By Toni Weeks

San Diego, March 7 - Pimco Funds announced plans to offer a new fund that invests primarily in investment-grade debt securities, according to an N-1A filing with the Securities and Exchange Commission.

The Pimco Short Asset Investment Fund will seek maximum current income, consistent with daily liquidity. The fund plans to offer class P, class D, institutional class and administrative class shares.

Under normal circumstances, it will invest at least 65% of its total assets in a diversified portfolio of fixed-income instruments of varying maturities, including forwards or derivatives such as options, futures contracts or swap agreements.

The fund may invest

• Up to 10% of its total assets in securities denominated in foreign currencies;

• More than 10% of its total assets in dollar-denominated securities of foreign issuers;

• Up to 10% of its total assets in securities and instruments economically tied to emerging market countries;

• Up to 60% of its total assets in corporate issuers;

• Without limitation in derivative instruments;

• Up to 20% of its total assets in asset-backed securities;

• Up to 10% of its total assets in privately issued mortgage-backed securities;

• Up to 10% of its total assets in interest rate swaps; and

• Up to 5% of its total assets in credit default swaps.

There will be no shareholder fees. Management fees have not yet been determined. There will be an expense and fee limitation agreement.

Newport Beach, Calif.-based Pacific Investment Management Co. LLC, or Pimco, will serve as the investment adviser. The portfolio managers have not yet been appointed.

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