The PIMCO GNMA and Government Securities Fund Class C (ticker: PCGNX) is a mutual fund that primarily invests in mortgage-backed securities issued or guaranteed by the U.S. government, as well as other government-issued securities. This fund aims to provide investors with a stable income stream and potential for capital appreciation through a diversified portfolio of government-backed securities. As a Class C fund, it may have higher fees and expenses compared to other classes, but may also offer a lower minimum investment requirement.