PMRCX is a mutual fund that focuses on investing in mortgage-backed securities. It is managed by PIMCO, a leading investment management company. This fund is classified as Class C, which typically has a higher expense ratio but may offer lower initial investment requirements. PMRCX aims to provide investors with a diversified portfolio of mortgage-backed securities, which are debt securities backed by mortgages. This fund may be suitable for investors seeking income and potential capital appreciation through exposure to the mortgage market.