PIMCO Tactical Opportunities A

The PIMCO Tactical Opportunities Fund is a directional global credit strategy seeking to capitalize on the ongoing dislocations across credit markets, particularly in structured credit, due to global deleveraging, reregulation and bifurcated policy responses among global central banks. While it is expected that the Fund will initially focus on assets with exposure to PIMCO's views on the U.S. housing market (and, in particular, a potential U.S. housing recovery), the flexibility of the Fund's investment strategy is expected to provide investors with exposure to the evolving opportunities across global residential, commercial, and corporate credit markets. Tac Opps expects to access PIMCO's extensive credit resources to identify dislocations in value and seek attractive risk-adjusted returns through detailed security selection, strong sourcing relationships and a unique understanding of the macroeconomic environment.