PVGMAPI Fees and Costs — PIMCO Global Managed Asset Allocation Portfolio, Institutional Class
Data updated: 2026-08-31
The net expense ratio is 1.06% (1.26% before fee waivers). There are no sales loads or redemption fees. In fiscal 2025 the fund paid $33K in broker commissions, 0.0112% of average net assets, and portfolio turnover was 380%.
PVGMAPI Fees and Expenses
Annual operating expenses and sales charges of PVGMAPI. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.95% |
| 12b-1 fee | — |
| Other expenses | 0.09% |
| Gross expense ratio | 1.26% |
| Fee waiver | −0.20% |
| Net expense ratio | 1.06% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
PVGMAPI Costs Over Time
On $10,000 invested in PVGMAPI, assuming 5% a year before costs, total costs come to $669 over 5 years, cutting the return by 1.12% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 1.06%) | $111 | $347 | $601 |
| Trading costs (broker commissions) | $1 | $4 | $6 |
| Lost growth on money paid in costs | $0 | $17 | $61 |
| Total costs | $112 | $368 | $669 |
| Value after costs | $10,388 | $11,208 | $12,094 |
| Impact on return, per year | 1.12% | 1.12% | 1.12% |
PVGMAPI Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0112%
- Total broker commissions: $33K
- Bought from dealers (principal trades, not a cost): $2.3B
- Portfolio turnover (prospectus): 380%
- Securities lending: none during the year
PVGMAPI Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Merrill Lynch, Pierce, Fenner, & Smith | $14K | 44.32% |
| Morgan Stanley & Co., Inc. | $14K | 43.93% |
| RBC Capital Markets Corp. | $2K | 5.35% |
| J.P. Morgan Securities LLC | $651 | 1.99% |
| Goldman Sachs & Co. | $502 | 1.54% |
| Citigroup Global Markets, Inc. | $399 | 1.22% |
| BNP Paribas Securities Corp. | $189 | 0.58% |
| Wells Fargo Securities, LLC | $176 | 0.54% |
| BMO Capital Markets Corp. | $149 | 0.46% |
| Virtu Americas LLC | $23 | 0.07% |
PVGMAPI Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Morgan Stanley & Co., Inc. | $457.1M | 20.10% |
| Goldman Sachs & Co. | $363.7M | 15.99% |
| Merrill Lynch, Pierce, Fenner, & Smith | $316.4M | 13.91% |
| J.P. Morgan Securities LLC | $298.3M | 13.12% |
| Barclays Capital, Inc. | $243.1M | 10.69% |
| Citigroup Global Markets, Inc. | $170.9M | 7.51% |
| Mizuho Securities USA, Inc. | $153.9M | 6.77% |
| Wells Fargo Securities, LLC | $129.7M | 5.70% |
| BMO Capital Markets Corp. | $119.9M | 5.27% |
| BNP Paribas Securities Corp. | $21.2M | 0.93% |
PIMCO Global Managed Asset Allocation Portfolio Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| PVGMAPI | Institutional Class | 1.06% | — |
| VPVGMMV | Administrative Class | 1.21% | — |
| VPVGMVV | Advisor Class | 1.31% | — |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.