PIMCO All Asset All Authority Portfolio

C000030997 Fund Overview

PIMCO All Asset All Authority Portfolio is a US mutual fund managed by PIMCO Variable Insurance Trust, categorised as Inflation Hedge Allocation. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

• Type: US mutual fund
• Manager: PIMCO Variable Insurance Trust
• Category: Inflation Hedge Allocation
• SEC CIK: 0001047304
• SEC series ID: S000010204
• Share class ID: C000030997

C000030997 Investment Objective and Strategy

PIMCO All Asset All Authority Portfolio describes its objective and strategy as follows, from its latest prospectus filed with the SEC by PIMCO Variable Insurance Trust.

Investment objective

The Portfolio seeks maximum real return, consistent with preservation of real capital and prudent investment management.

Principal investment strategy

"The Portfolio is a ""fund of funds,"" which is a term used to describe mutual funds that pursue their investment objective by investing in other funds. The Portfolio seeks to achieve its investment objective by investing under normal circumstances substantially all of its assets in the least expensive class of shares of any actively managed or smart beta funds (including mutual funds or exchange-traded funds) of PIMCO Funds, PIMCO ETF Trust or PIMCO Equity Series, each an affiliated open-end investment company, except other funds of funds (collectively, ""Underlying PIMCO Funds""). As used in the investment objective, ""real return"" equals total return less the estimated cost of inflation, which is typically measured by the change in an official inflation measure, and ""real capital"" equals capital less the estimated cost of inflation measured by the change in an official inflation measure.

In addition to investing in Underlying PIMCO Funds, at the discretion of Pacific Investment Management Company LLC (""PIMCO"") and without shareholder approval, the Portfolio may invest in additional Underlying PIMCO Funds created in the future. The Portfolio invests its assets in shares of the Underlying PIMCO Funds and does not invest directly in stocks or bonds of other issuers. Research Affiliates, LLC, the Portfolio's asset allocation sub-adviser, determines how the Portfolio allocates and reallocates its assets among the Underlying PIMCO Funds. In doing so, the asset allocation sub-adviser seeks concurrent exposure to a broad spectrum of asset classes. Investments in Underlying PIMCO Funds. The Portfolio may invest in any or all of the Underlying PIMCO Funds, but will not normally invest in every Underlying PIMCO Fund at any particular time.

The Portfolio's investment in any particular Underlying PIMCO Fund normally will not exceed 50% of its total assets. The Portfolio's investments in the Short Strategy Underlying PIMCO Funds, which seek to gain a negative exposure to an asset class such as equities, normally will not exceed 20% of its total assets. The Portfolio's combined investments in the Domestic Equity-Related Underlying PIMCO Funds normally will not exceed 50% of its total assets. The Portfolio's combined investments in the International Equity-Related Underlying PIMCO Funds normally will not exceed 50% of its total assets. The Portfolio's combined investments in the Equity-Related Underlying PIMCO Funds (less any investment in the PIMCO StocksPLUS Short Fund) normally will not exceed 66?% of its total assets. In addition, the Portfolio's combined investments in Inflation-Related Underlying PIMCO Funds, which seek to gain exposure to an asset class such as U.S.

Treasury Inflation-Protected Securities (""TIPS""), commodities, or real estate, normally will not exceed 75% of its total assets. Asset Allocation Investment Process. The Portfolio's assets are not allocated according to a predetermined blend of shares of the Underlying PIMCO Funds. Instead, when making allocation decisions among the Underlying PIMCO Funds, the Portfolio's asset allocation sub-adviser considers various quantitative and qualitative data relating to the U.S. and foreign economies and securities markets. Such data includes projected growth trends in the U.S. and foreign economies, forecasts for interest rates and the relationship between short- and long-term interest rates (yield curve), current and projected trends in inflation, relative valuation levels in the equity and fixed income markets and various segments within those markets, the outlook and projected growth of various industrial sectors, information relating to business cycles, borrowing needs and the cost of capital, political trends, data relating to trade balances and labor information.

The Portfolio's asset allocation sub-adviser has the flexibility to reallocate the Portfolio's assets among any or all of the asset class exposures represented by the Underlying PIMCO Funds based on its ongoing analyses of the equity, fixed income and commodity markets. While these analyses are performed daily, material shifts in asset class exposures typically take place over longer periods of time. Borrowing for Investment Purposes. The Portfolio may use leverage by borrowing for investment purposes to purchase additional shares of Underlying PIMCO Funds. The Portfolio can borrow from banks up to a maximum of 33?% of total assets. If at any time the Portfolio's borrowings exceed this 33?% maximum limitation, the Portfolio will, within three business days, decrease its borrowings to the extent required.

Borrowing requires the payment of interest and other loan costs. To make such payments, the Portfolio may be forced to sell portfolio securities when it is not otherwise advantageous to do so. At times when the Portfolio's borrowings are substantial, the interest expense to the Portfolio may result in the Portfolio having little or no investment income. The use of leverage by borrowing creates the potential for greater gains to shareholders of the Portfolio during favorable market conditions and the risk of magnified losses during adverse market conditions. In addition, the Underlying PIMCO Funds may engage in certain transactions that give rise to a form of leverage."

C000030997 Costs and Fees

C000030997 costs about $363 per $10,000 invested per year in fund expenses.

• Net expense ratio: 3.63%
• Gross expense ratio: 3.72%
• Portfolio turnover: 48%
• Brokerage commissions: 0.05 bps of average net assets (SEC N-CEN)

C000030997 Cashflows

Over the 12 months to 2020-06, PIMCO All Asset All Authority Portfolio had net inflows of $13.30M, from monthly SEC N-PORT filings.

C000030997 Debt Constituents

No individual debt constituents are reported in PIMCO All Asset All Authority Portfolio's latest SEC N-PORT filing.

C000030997 Prospectus and SEC Filings

Official PIMCO All Asset All Authority Portfolio filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

• Prospectus (485BPOS) — filed 2020-05-19
• Prospectus (485BPOS) — filed 2019-05-16
• Prospectus (485BPOS) — filed 2018-05-16
• Portfolio holdings (N-PORT) — filed 2020-08-27
• Portfolio holdings (N-PORT) — filed 2020-05-29
• Portfolio holdings (N-PORT) — filed 2020-02-25
• Annual census (N-CEN) — filed 2020-03-12
• Annual census (N-CEN) — filed 2019-03-15

Related Funds

Related funds tracked on ABC INVEST:

• PIMCO Total Return Portfolio (VPVTRDV)
• PIMCO Real Return Portfolio (VPVRRDV)
• PIMCO Low Duration Portfolio (VPVLDDV)
• PIMCO Income Portfolio (PIINCAM)
• PIMCO Short-Term Portfolio (VPVSTDV)

Data Sources

ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.