Pacific FundsSM Short Duration Income

Class AClass CAdvisor Class
TickerFund NumberTickerFund NumberTickerFund Number
PLADX113PLCSX313PLDSX013

Pacific Funds Short Duration Income is a mutual fund:

  • Designed for Income: Constructed to seek steady streams of income.
  • Focused on Short-Term Corporate Securities: Ability for the Fund to invest in a variety of corporate securities.
  • Based on Experience: A portfolio management team that specializes in fixed-income asset management based on a foundation of corporate credit research.

Fund Snapshot

While many short-duration funds are anchored in government securities as core investments, our focus is on corporate securities.

  • Attractive Yields: In exchange for slightly greater risk, corporate bonds provide higher income than U.S. Treasuries of comparable maturity.
  • Opportunity: Corporate bonds offer a wide range of income opportunities in fixed-rate, floating-rate, high-quality, low-quality, domestic, and international markets.
  • Diversification: Corporate bonds may add diversification to a fixed-income portfolio of government, mortgage-backed, or other fixed-income securities.

 

Performance (as of 9/30/19) 

  Total Returns (%) Annualized Total Returns (%) 
  3-Month YTD 1-Year 3-Year 5-Year Since Fund Inception
12/19/11
Class A—NAV1 1.01 4.81 4.55 2.49 2.10 2.65
Class A—MOP1 –2.00 1.70 1.38 1.46 1.49 2.25
Class C—NAV1 0.82 4.23 3.77 1.73 1.33 1.90
Class C—MOP1 –0.18 3.23 2.77 1.73 1.33 1.90
Advisor Class1 0.98 4.99 4.80 2.75 2.35 2.87
Bloomberg Barclays 1-3 Year U.S. Government/Credit Bond Index2
0.69 3.42 4.64 1.82 1.59 1.35

Calendar Year-End Returns (%)

  2012 2013 2014 2015 2016 2017 2018
Class A—NAV1 6.73 2.41 0.71 0.68 2.50 2.36 0.60
Class A—MOP1 3.52 –0.65 –2.29 –2.36 –0.62 -0.73 –2.43
Class C—NAV1 6.00 1.69 –0.01 –0.16 1.75 1.59 –0.14
Class C—MOP1 5.00 0.69 –1.00 –1.14 0.75 0.59 –1.12
Advisor Class1 6.76 2.64 0.98 0.93 2.77 2.61 0.85
Bloomberg Barclays 1-3 Year U.S. Government/Credit Bond Index2 1.26 0.64 0.77 0.65
1.28 0.84 1.60

Returns reflect reinvestment of dividends and distributions. Net asset value returns do not reflect the deduction of an up-front sales load or contingent deferred sales charge (CDSC). If a sales charge had been deducted, the results would have been lower. 

1Share class incepted 6/29/12. Performance shown prior to that date is hypothetical and is that of Class I shares (12/19/11 inception date), restated to reflect applicable service and/or 12b-1 fees. Class A shares at maximum offering price (MOP) reflect the deduction of an up-front 3.00% sales load. Class C shares at MOP reflect the deduction of a 1.00% contingent deferred sales charge (CDSC). Advisor Class shares are sold at net asset value (NAV) without an initial sales charge and do not include a CDSC. Performance reflects any applicable fee waivers and expense reimbursements. If a sales charge had been deducted, the results would have been lower. 2A performance benchmark of U.S. investment-grade government and corporate bonds with maturities of one to three years.

Indexes are unmanaged and cannot be invested in directly. Further, they hold no cash and incur no expenses. 

Yield (as of 9/30/19) Advisor Class
30-Day SEC Yield (Advisor Shares)3 2.26%

Without fee waivers and expense reimbursements, the 30-Day SEC Yield is 2.00%.

3The 30-Day SEC Yield represents the net investment income earned over the 30-day period ending on the above date and includes any fee waivers and expense reimbursements. It is an annualized rate calculated under a methodology prescribed by the Securities and Exchange Commission (SEC). Yields for other share classes will vary.

Fund Composition (as of 9/30/19)

Asset Allocation (%)
Investment-Grade Corporate Bonds 52.94
Floating-Rate Loans 9.83
High-Yield Bonds 2.78
Government Bonds 10.77
Asset-Backed Securities 20.86
Cash 2.82
Maturity Schedule (%)
Less than 1 year 6.04
1–3 years
37.38
3–5 years
33.78
5–7 years
11.22
7–10 years
4.07
More than 10 years
7.51
Credit Quality Allocation (%)
AAA 31.50
AA
8.32
A
21.76
BBB
27.60
BB
6.94
B
3.89

Ratings received from S&P®, Moody’s, and/or Fitch and measured on a scale that generally ranges from AAA (highest) to D (lowest) and may change over time. The higher rating is used when rating agencies rate a security differently. All ratings are converted to the equivalent S&P major rating category for purposes of the category shown. 

Distributions (Advisor Class) Per Share Amount ($)
July 2019 0.0261
August 2019 0.0225
September 2019 0.0230
Characteristics
Duration 1.68
Weighted Average Maturity 4.75
Weighted Average Price 101.34
Number of Issues 332
Number of Issuers 233

The weighted average price includes bonds and floating-rate loans.

Top-10 Holdings Maturity Weight (%)
US Treasury 2.75% 11/30/20 2.08
Verizon Communications Inc. 5/15/25 1.07
US Treasury 2.625% 12/15/21 1.05
US Treasury 1.75% 7/31/24 0.98
US Treasury 2.875% 10/31/20 0.89
US Treasury 2.5% 1/15/22 0.84
US Treasury 2.0% 10/31/22 0.83
Dupont De Nemours, Inc.  11/15/23 0.72
Citigroup Inc.  9/1/23 0.68
MGM Growth Properties  3/21/25 0.66
Total   9.80

 

Top-10 Country Allocations (%)
United States 81.78 Ireland 1.01
Canada 2.96 Australia 0.88
Japan 2.21 Belgium 0.81
United Kingdom 1.79 Germany 0.74
Switzerland 1.33 Netherlands 0.69

Based on country of risk which may differ from country of incorporation.

 

About Principal Risks

All investing involves risks including the possible loss of the principal amount invested. There is no guarantee the Fund will achieve its investment goal. Corporate bonds are subject to issue risk in that their value may decline for reasons directly related to the issuer of the security. Not all U.S. government securities are checked or guaranteed by the U.S. government, and different government securities are subject to varying degrees of credit risk. Mortgage-related and other asset-backed securities are subject to certain rules affecting the housing market or the market for the assets underlying such securities. The Fund is subject to liquidity risk (the risk that an investment may be difficult to purchase, value, and sell particularly during adverse market conditions, because there is a limited market for the investment, or there are restrictions on resale) and credit risk (the risk an issuer may be unable or unwilling to meet its financial obligations, risking default). High-yield/high-risk bonds (“junk bonds”) and floating-rate loans (usually rated below investment grade) have greater risk of default than higher-rated securities/higher-quality bonds that may have a lower yield. The Fund is also subject to foreign-markets risk.

 

Investment Management

Portfolio Managers: Pacific Asset Management

David Weismiller, CFA: Managing Director and Lead Portfolio Manager; 23 years of investment experience

Michael Marzouk, CFA: Managing Director; 23 years of investment experience

Ying Qiu, CFA: Managing Director; 21 years of investment experience

Investment Adviser

Pacific Life Fund Advisors LLC

Fund Information (as of 9/30/19)

DOL - Pacific Funds

Pacific Life Insurance Company is the administrator for Pacific Funds. It is not a fiduciary and therefore does not give advice or make recommendations regarding insurance or investment products.

PLFA3

Pacific Life Fund Advisors LLC (PLFA), a wholly-owned subsidiary of Pacific Life, is the investment adviser to Pacific Funds. PLFA also does business under the name Pacific Asset Management and manages certain funds under that name.

PSD2

Pacific Funds are distributed by Pacific Select Distributors, LLC (member FINRA & SIPC), a subsidiary of Pacific Life Insurance Company (Newport Beach, CA), and are available through licensed third parties. Pacific Funds refers to Pacific Funds Series Trust.

AM6

No bank guarantee. May lose value. Not FDIC insured.