PIMCO International Bond Fund (U.S. Dollar-Hedged) Class INSTL (PFORX)

The fund endeavors to fulfill its mandate by typically committing at least 80% of its capital to debt securities. These fixed income holdings will generally be linked economically to a minimum of three countries outside the United States. While chiefly investing in high-quality debt instruments, the portfolio may allocate up to one-tenth of its overall assets to speculative-grade (junk) bonds. Such ratings are provided by agencies like Moody's, S&P, or Fitch, or determined by PIMCO for unrated issues. The fund maintains a non-diversified status.