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Stable Income Fund PIMCO Collective Investment Trust II • 31 DECEMBER 2020 Stable Income Fund Stable value manager…….……............…....PIMCO The information contained in this material is provided by the employer through the Class….……………………………………..…Class 2 employer's retirement plan. Please contact the plan administrator to obtain additional Fund inception date….……………..……26 June 2012 information. CUSIP….………………………………....72200A203 FUND DESCRIPTION Fund Assets (in millions)1………...........……$564.0 The PIMCO Stable Income Fund (the “Fund”) has the objective to seek to provide current income in excess of money market investments and reduce the risk of principal loss over time. Fund Statistics Effective duration….………………………3.13 years The Fund is an actively managed, diversified investment strategy w hich invests primarily 2 in investment grade fixed income investments including, but not limited to, U.S. Net crediting rate ………….……….……..…..1.75% government securities, corporate bonds, mortgage-backed securities, asset-backed Effective maturity………………………….3.64 years securities, and derivative instruments, including futures and sw aps. The average duration of the Fund’s investments w ill vary over time, but is typically expected to be betw een tw o Basic Facts and three years. Management fee…………………………..….0.265% Other Fund investments may include a variety of stable value investment contracts4 Weighted investment contract expenses.….0.145% issued by insurance companies, banks, and other financial institutions, w hich are Administrative service expense………….….0.100% intended to help reduce principal volatility of, w hile providing steady income from, any Other operating expenses………………...…0.000% associated Fund fixed income investments. The Fund may also invest in cash or other Total expense ratio3………………………..….0.510% liquid investments, such as a money market strategy or short-term investment fund (“STIF”), to help meet participant liquidity needs. Risks There is no guarantee the Fund will achieve its INVESTOR BENEFITS investment objective. Although stable value investments seek to reduce the risk of principal loss, This Fund offers investors a strategy that seeks to outperform money markets on a investing in the Fund involves risk, including loss of consistent basis w hile providing principal stability. principal. Potential benefits of this Fund include: • Prudent risk management through diversified exposure to a broad opportunity set of Trust description fixed income securities SEI Trust Company serves as the trustee ("Trustee") • A high credit quality portfolio primarily comprised of investment grade fixed income of the PIMCO Collective Investment Trust II (the "Trust") and maintains ultimate fiduciary authority over securities the management of, and investments made in, the • A relatively stable return, w here month-to-month returns are not typically impacted by Trust. The Trustee has engaged Pacific Investment market fluctuations Management Company, LLC ("PIMCO") to act as • Actively managed across the fixed income markets in an effort to enhance returns investment adviser to the Trust. The Trust is part of a over money markets collective investment trust that is exempt from registration under the Investment Company Act of PIMCO is distinguished as one of the largest managers of actively managed fixed income 1940. assets in the w orld. Not surprisingly, PIMCO is also one of the largest managers of stable value assets, w ith a team of experienced stable value specialists, w hose focus is to provide management, consulting, and dedicated servicing to stable value clients. (continued on page 2) MAY LOSE VALUE • NOT FDIC INSURED • NOT A DEPOSIT • NOT GUARANTEED PLEASE SEE PAGE 4 FOR IMPORTANT RISK DISCLOSURES FOR PLAN AND PARTICIPANTS’ USE ONLY STABLE INCOME FUND Class: Class 2 INVESTOR BENEFITS (continued from page 1) As of: 31 December 2020 Of the many strengths PIMCO provides as a stable value manager, three are of particular note: About SEI • Sound, common sense philosophy that combines a long-term perspective, moderate SEI Trust Company is a trust company organized risk taking across multiple concurrent strategies, and a commitment to sophisticated under the law s of the Commonw ealth of research. This investment approach has been in place at PIMCO for more than 40 Pennsy lv ania. SEI Trust Company is a w holly years and seeks to add value under various types of market conditions. ow ned subsidiary of SEI Inv estments Company . • Macro-economic view s are developed through participation by a broad and diverse SEI (NASDAQ:SEIC) is a leading global prov ider of group w ithin PIMCO. These consensus view s form the foundation for how the portfolio asset management serv ices and inv estment is positioned. technology solutions. • Strong emphasis on risk management and investment contract negotiation, w hich w e believe is especially important for a conservative investment option such as About PIMCO stable value. PIMCO is a leading global inv estment management PIMCO stable value products benefit from the same fixed income investment firm, w ith offices in 12 countries throughout the philosophy employed since 1971. So, w ith PIMCO stable value management, investors Americas, Europe and Asia. Founded in 1971, get robust, experienced fixed income and risk management coupled w ith decades of PIMCO offers a w ide range of innov ativ e solutions stable value expertise. to help millions of inv estors w orldw ide meet their Investor profile needs. Our goal is to prov ide attractiv e returns w hile maintaining a strong culture of risk PIMCO Stable Income Fund is designed to provide participants w ith current income, management and long-term discipline. PIMCO is liquidity, and relatively low principal risk. The diversified strategy may appeal to ow ned by Allianz S.E., a leading global div ersified conservative investors w ith a short- to intermediate-term investment horizon or for those financial serv ices prov ider. seeking to balance more volatile investments in a diversified portfolio. MAY LOSE VALUE • NOT FDIC INSURED • NOT A DEPOSIT • NOT GUARANTEED PLEASE SEE PAGE 4 FOR IMPORTANT RISK DISCLOSURES FOR PLAN AND PARTICIPANTS’ USE ONLY STABLE INCOME FUND Class: Class 2 Performance (net of fees) Inception 5 yrs. 3 yrs. 1 yr. 3 mos. As of: 31 December 2020 Fund 1.23% 1.75% 1.92% 1.88% 0.43% Benchmark 0.54% 0.95% 1.33% 0.41% 0.01% About the benchmark Since inception date is 26 June 2012 Past performance is not a guarantee or a reliable indicator of future results The Lipper Money Market Fund Index is comprised of funds that inv est in high-quality financial BENEFITS instruments rated in the top tw o grades w ith dollar- Investment contracts9 Sector allocation(%)5,6,7,8 w eighted av erage maturities of less than 90 day s. Prudential Insurance Aa3/AA-/AA- U.S. Gov ernment-Related 13 These funds intend to keep a constant net asset Pacific Life Insurance A1/AA-/AA- Inv estment Grade Credit 24 v alue. It is not possible to inv est directly in an Transamerica A1/A+ Mortgage Backed Securities 33 unmanaged index . Asset-Backed Securities 0 Portfolio composition(%)7 Commercial Mortgage Backed Securities 6 Transfer restrictions Cash buffer v ehicle(s) 2 Emerging Markets 1 Inv estors may be restricted from inv esting directly Inv estment contracts4 98 Non-U.S. Dev eloped 0 or indirectly from the Fund into certain competing PRUDENTIAL LIFE 39 Other 5 inv estment options in their plan, such as a low PACIFIC LIFE 29 Net Other Short Duration Instruments 17 duration option or a money market fund (or in TRANSAMERICA 29 certain cases a self-directed brokerage account), if av ailable, and may be required to first inv est in Footnotes: other plan options, such as an equity option, for at 1. Total fund assets inclusive of all share classes least 90 day s. 2. Net crediting rate is the interest rate paid by the Fund on the date specified after all fees and expenses are deducted. The Fund’s rate normally will be affected by, among other factors, the prevailing general level of interest rates, the performance of the Fund’s fixed income investments, and cash flows, including those from employer and investor contributions, withdrawals, and transfers into and out of the Fund. As of 1 January 2021, the net crediting rate for the fund was 1.57%. 3. Total Expense Ratio is the calculated annualized expenses for the Fund as calculated by the Trustee. It includes the Management Fee, which is for management advisory fees, portfolio valuation and accounting, transfer, agency, custody, annual report and audit fees, the Weighted Investment Contract Expenses, which is the estimated weighted cost of stable value investment contract coverage in the Fund, Administrative Service Expenses, which are client service fees that may be paid to third party administrators or other entities, and Other Annual Operating Expenses, if applicable. 4. Stable value investment contracts are issued by insurance companies, banks, and other financial institutions, are intended to help reduce principal volatility of, while providing steady income from, any associated Fund fixed income investments, and are intended to be valued at contract value (typically, deposited principal plus accrued interest less redemptions). Investment contracts vary and may include insurance company separate account contracts, synthetic contracts (also known as wrap contracts), or insurance company general account contracts. Insurance company separate account contracts and synthetic contracts are a combination of fixed income investments (associated assets)
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