PFPNX

About PFPNX

PIMCO Preferred and Capital Securities Fund Class I-2 is an actively managed mutual fund focused on income-oriented credit markets. Its primary objective is to seek maximum total return, consistent with prudent risk management, by investing predominantly in preferred securities and other capital securities issued largely by financial institutions and related sectors. The portfolio typically allocates at least 80% of assets to these instruments, drawing on the structural features of preferreds—such as hybrid debt‑equity characteristics and priority in issuer capital structures—to pursue income and potential capital appreciation. Managed by PIMCO’s global credit team, the strategy may use derivatives for efficient exposure and risk management, and it maintains a diversified holding base across issuers and structures. The fund’s role in the market is to provide specialized access to the preferred and capital securities universe, offering investors a vehicle that targets cash flow generation with diversification benefits relative to traditional corporate bonds and equities. It is designed for institutions and sophisticated investors seeking dedicated exposure to this niche of the credit spectrum within a multi-asset or fixed income allocation.