PFANX

The PIMCO Preferred and Capital Securities Fund primarily deploys its capital, dedicating no less than 80% of its assets to a diverse array of preferred securities and regulatory capital instruments, referred to as Capital Securities. These Capital Securities are defined as financial instruments offered by both U.S. and international financial institutions to satisfy their mandated solvency requirements. Typically, at least a quarter of the fund's net holdings will specifically be invested in preferred securities. The fund also maintains the flexibility to allocate up to 20% of its total assets to ordinary shares and may additionally incorporate contingent convertible securities into its portfolio.