Pacific FundsSM Ultra Short Income

Advisor ClassClass I
TickerFund NumberTickerFund Number
PLUDX019PLUIX419

Fund Literature

Fund Snapshot

Pacific Funds Ultra Short Income offers shareholders:

  • Current Income: The Fund seeks to provide a steady stream of income and serve as a complement to traditional money market funds.
  • Low Volatility: With an overall fund duration that will not exceed one year, ultra-short bonds are less impacted by interest-rate changes compared to longer-term bonds.
  • Corporate Focus: A portfolio management team that specializes in fixed-income asset management based on a foundation of corporate credit research.

 

Performance (as of 6/30/20) 

  Total Returns (%) Annualized Total Returns (%) 
  3-Month YTD 1-Year 3-Year 5-Year Since Fund Inception
6/28/19
Advisor Class 4.37 1.05 2.48 2.46
Class I 4.36 1.05 2.47 2.46
Bloomberg Barclays Short Treasury Total Return Index1
0.04 0.87 1.95 1.95

Returns reflect reinvestment of dividends and distributions.

1A performance benchmark of all U.S. Treasuries that have a remaining maturity between one and twelve months.

 

Yield (as of 6/30/20) Advisor Class
30-Day SEC Yield (Advisor Shares)2 1.45%

Without fee waivers and expense reimbursements, the 30-Day SEC Yield is 0.93%.

2The 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 6/30/20)

Asset Allocation (%)
Investment-Grade Corporate Bonds 57.50
Government Bonds 10.79
Asset-Backed Securities 23.64
Floating-Rate Loans and High-Yield Bonds 4.48
Cash 3.60
Characteristics
Duration (Years) 0.83
Weighted Average Maturity 3.22
Weighted Average Life 1.51
Weighted Average Price 100.61
Number of Issues 121
Number of Issuers 105

 

Credit Quality Allocation (%)
AAA 38.54
AA
4.03
A
23.18
BBB
30.22
Below BBB
4.05

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 ($)
April 2020 0.0148
May 2020 0.0138
June 2020 0.0124
Top-10 Holdings Maturity Weight (%)
US Treasury 0.0%
7/28/20 3.32
US Treasury 0.0% 10/1/20 3.32
US Treasury 0.0%
12/31/20 3.32
Sprint Spectrum Co. LLC 3.36%
9/20/21 2.13
DTE Energy Company 2.25%
11/1/22 1.72
Americredit Automobile Receiveables Trust 1.1% 3/18/23 1.67
JP Morgan Chase & Co.
6/18/22 1.66
Mondelez International, Inc. 0.625% 7/1/22 1.66
Occidental Petroleum Corporation
2/8/21 1.64
Abbvie Inc. 2.15%
11/19/21 1.53
Total   21.97

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. The fund is subject to the following principal risks described in this paragraph. Debt securities with longer durations or fixed interest rates tend to be more sensitive to changes in interest rates, making them generally more volatile than debt securities with shorter durations or floating or adjustable interest rates. The Fund is subject to liquidity risk (the risk that an investment may be difficult to purchase and sell within a reasonable amount of time at approximately the price the Fund has valued the investment) and credit risk (the risk an issuer may be unable or unwilling to meet its financial obligations, risking default). Interest rates and bond prices have an inverse relationship. The Fund is also subject to foreign-markets risk.

 

Investment Management

Subadvised by Pacific Asset Management LLC

Portfolio Managers:

David Weismiller, 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 6/30/20)

As of Current Prospectus Advisor Class Class I
Inception Date 6/28/19 6/28/19
Minimum Initial/Subsequent Investment None1 $500,000/None
Sales Load/Maximum Sales Charge (%) None None
Gross/Net Expense Ratio (%) 0.99/0.32 0.84/0.32
Distributions Dividends Declared Daily and Paid Monthly/Annual Capital Gains

The Fund's annual operating expenses shown above are effective 8/1/19 through 7/31/20. Gross Expense Ratio reflects the total annual operating expenses paid by the Fund. Net Expense Ratio reflects waivers, reductions, reimbursements, and the limitation of certain "Other Expenses." Expense caps and/or fee waivers are reevaluated annually. There is no guarantee that the investment adviser will continue to cap expenses after the expiration date. Please see the current prospectus for detailed information.
1Contact your financial advisor.

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.

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