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PIMCO National Municipal Opportunistic Value Fund
mutual fund
GNMFX
Payout Change
Pending
Price as of:
$9.86
+0.0
+0.0%
primary theme
Municipal Bond
share class
GNMFX (Mutual Fund)
PIMCO National Municipal Opportunistic Value Fund
Payout Change
Pending
Price as of:
$9.86
+0.0
+0.0%
primary theme
Municipal Bond
share class
GNMFX (Mutual Fund)
PIMCO National Municipal Opportunistic Value Fund
Payout Change
Pending
Price as of:
$9.86
+0.0
+0.0%
primary theme
Municipal Bond
share class
Name
As of 07/25/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
1.5%
1 yr return
4.0%
3 Yr Avg Return
0.6%
5 Yr Avg Return
1.6%
Net Assets
$313 M
Holdings in Top 10
20.2%
52 WEEK LOW AND HIGH
$9.9
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.63%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 12.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$250,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 07/25/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
GNMFX - Profile
Distributions
- YTD Total Return 1.5%
- 3 Yr Annualized Total Return 0.6%
- 5 Yr Annualized Total Return 1.6%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 2.26%
- Dividend Yield 3.2%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NamePIMCO National Municipal Opportunistic Value Fund
-
Fund Family NameGurtin
-
Inception DateJun 26, 2019
-
Shares OutstandingN/A
-
Share ClassInstl
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerBrian Hannibal
Fund Description
The Fund seeks to achieve its investment objective by investing under normal circumstances at least 80% of its assets in debt securities whose interest is, in the opinion of bond counsel for the issuer at the time of issuance, exempt from federal income tax (“Municipal Bonds”). Municipal Bonds generally are issued by or on behalf of states and local governments and their agencies, authorities and other instrumentalities.The Fund may invest in Fixed Income Instruments which include bonds, debt securities and other similar instruments. The Fund may invest without limitation in “private activity” bonds whose interest is a tax-preference item for purposes of the federal alternative minimum tax (“AMT”). For shareholders subject to the AMT, distributions derived from “private activity” bonds must be included in their AMT calculations, and as such a portion of the Fund’s distribution may be subject to federal income tax. The Fund may invest in securities of any duration. Duration is a measure used to determine the sensitivity of a security’s price to changes in interest rates. The longer a security’s duration, the more sensitive it will be to changes in interest rates.The Fund invests in debt securities rated Baa3 or higher by Moody’s Investors Service, Inc. (“Moody’s”), or equivalently rated by Standard & Poor’s Ratings Services (“S&P”) or Fitch, Inc. (“Fitch”), or, if unrated, determined by PIMCO to be of comparable quality. In the event that ratings services assign different ratings to the same security, PIMCO will use the highest rating as the credit rating for that security.The Fund’s investments may include fixed or floating rate general obligation bonds and notes, lease revenue bonds, revenue bonds and notes, and zero coupon securities. The Fund may buy securities on a when-issued, delayed delivery or forward commitment basis. The Fund may, at times, invest more than 25% of its net assets in Municipal Bonds the principal and interest payments of which are paid by obligors located in a single state.The Fund may invest the remainder of its net assets in other municipal instruments, U.S. Government Securities and certain cash and cash equivalents, including cash sweep vehicles.The Fund is non-diversified, which means that it may invest its assets in a smaller number of issuers than a diversified fund.
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GNMFX - Performance
Return Ranking - Trailing
| Period | GNMFX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 1.5% | -3.2% | 18.1% | 33.03% |
| 1 Yr | 4.0% | -3.1% | 29.1% | 37.66% |
| 3 Yr | 0.6%* | -11.5% | 3.2% | 5.76% |
| 5 Yr | 1.6%* | -6.6% | 1102.5% | 7.16% |
| 10 Yr | N/A* | -0.7% | 248.5% | N/A |
* Annualized
Return Ranking - Calendar
| Period | GNMFX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 2.1% | -1.4% | 41.0% | 72.30% |
| 2022 | -7.1% | -39.7% | 0.3% | 15.54% |
| 2021 | -0.8% | -5.6% | 6.9% | 63.37% |
| 2020 | 0.9% | -2.6% | 310.0% | 84.02% |
| 2019 | N/A | 0.0% | 26.0% | 11.24% |
Total Return Ranking - Trailing
| Period | GNMFX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 1.5% | -3.2% | 18.1% | 33.03% |
| 1 Yr | 4.0% | -3.1% | 29.1% | 37.66% |
| 3 Yr | 0.6%* | -11.5% | 3.2% | 5.76% |
| 5 Yr | 1.6%* | -6.6% | 1102.5% | 7.16% |
| 10 Yr | N/A* | -0.7% | 248.5% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | GNMFX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 5.7% | -1.3% | 41.0% | 48.59% |
| 2022 | -4.4% | -39.7% | 1.1% | 10.96% |
| 2021 | 1.6% | -4.8% | 23761504.0% | 49.67% |
| 2020 | 3.4% | -1.5% | 17057.9% | 65.03% |
| 2019 | N/A | 0.2% | 3514.6% | 15.05% |
NAV & Total Return History
GNMFX - Holdings
Concentration Analysis
| GNMFX | Category Low | Category High | GNMFX % Rank | |
|---|---|---|---|---|
| Net Assets | 313 M | 3.22 M | 71.9 B | 59.22% |
| Number of Holdings | 131 | 2 | 13203 | 75.51% |
| Net Assets in Top 10 | 63.2 M | -317 M | 3.56 B | 57.09% |
| Weighting of Top 10 | 20.18% | 1.4% | 100.2% | 40.65% |
Top 10 Holdings
- PIMCO PRV SHORT TERM FLT III MUTUAL FUND 4.53%
- UNIV OF CALIFORNIA CA RGTS MED UNVHGR 05/47 FIXED 5 2.03%
- CONNECTICUT ST SPL TAX OBLIG R CTSGEN 10/37 FIXED 5 1.96%
- CHICAGO IL O HARE INTERNATIONA CHITRN 01/41 FIXED 5 1.84%
- MIAMI DADE CNTY FL AVIATION RE MIATRN 10/38 FIXED 5 1.78%
- MAINE HLTH HGR EDUCTNL FACS MESMED 07/50 FIXED 5.5 1.73%
- TRIBOROUGH NY BRIDGE TUNNEL TRBTRN 05/51 FIXED 5 1.69%
- NEW YORK ST DORM AUTH SALES TA NYSHGR 03/36 FIXED 5 1.57%
- PENNSYLVANIA ST TURNPIKE COMMI PASTRN 12/44 FIXED 5 1.55%
- CONNECTICUT ST SPL TAX OBLIG R CTSGEN 10/38 FIXED 5 1.49%
Asset Allocation
| Weighting | Return Low | Return High | GNMFX % Rank | |
|---|---|---|---|---|
| Bonds | 94.60% | 0.00% | 150.86% | 90.47% |
| Cash | 5.40% | -50.86% | 46.80% | 7.05% |
| Stocks | 0.00% | 0.00% | 100.23% | 64.88% |
| Preferred Stocks | 0.00% | 0.00% | 0.56% | 61.53% |
| Other | 0.00% | -3.18% | 33.35% | 63.75% |
| Convertible Bonds | 0.00% | 0.00% | 0.93% | 61.31% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | GNMFX % Rank | |
|---|---|---|---|---|
| Municipal | 94.58% | 44.39% | 100.00% | 84.26% |
| Cash & Equivalents | 4.69% | 0.00% | 46.24% | 6.99% |
| Derivative | 0.00% | -3.18% | 19.67% | 61.40% |
| Securitized | 0.00% | 0.00% | 5.93% | 61.97% |
| Corporate | 0.00% | 0.00% | 9.41% | 69.05% |
| Government | 0.00% | 0.00% | 52.02% | 65.31% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | GNMFX % Rank | |
|---|---|---|---|---|
| US | 94.60% | 0.00% | 142.23% | 88.83% |
| Non US | 0.00% | 0.00% | 23.89% | 63.68% |
GNMFX - Expenses
Operational Fees
| GNMFX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.63% | 0.01% | 20.65% | 63.27% |
| Management Fee | 0.63% | 0.00% | 1.20% | 97.45% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | 0.23% | 0.01% | 0.44% | 93.08% |
Sales Fees
| GNMFX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 0.50% | 4.75% | N/A |
| Deferred Load | N/A | 0.25% | 5.00% | N/A |
Trading Fees
| GNMFX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 1.00% | 1.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| GNMFX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 12.00% | 0.00% | 283.00% | 30.56% |
GNMFX - Distributions
Dividend Yield Analysis
| GNMFX | Category Low | Category High | GNMFX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 3.24% | 0.00% | 14.51% | 18.15% |
Dividend Distribution Analysis
| GNMFX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
| GNMFX | Category Low | Category High | GNMFX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 2.26% | -0.53% | 5.33% | 32.39% |
Capital Gain Distribution Analysis
| GNMFX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Semi-Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Apr 30, 2024 | $0.029 | OrdinaryDividend |
| Mar 28, 2024 | $0.028 | OrdinaryDividend |
| Feb 29, 2024 | $0.028 | OrdinaryDividend |
| Jan 31, 2024 | $0.027 | OrdinaryDividend |
| Dec 29, 2023 | $0.028 | OrdinaryDividend |
| Nov 30, 2023 | $0.028 | OrdinaryDividend |
| Oct 31, 2023 | $0.026 | OrdinaryDividend |
| Sep 29, 2023 | $0.028 | OrdinaryDividend |
| Aug 31, 2023 | $0.027 | OrdinaryDividend |
| Jul 31, 2023 | $0.025 | OrdinaryDividend |
| Jun 30, 2023 | $0.028 | OrdinaryDividend |
| May 31, 2023 | $0.026 | OrdinaryDividend |
| Apr 28, 2023 | $0.025 | OrdinaryDividend |
| Mar 31, 2023 | $0.027 | OrdinaryDividend |
| Feb 28, 2023 | $0.026 | OrdinaryDividend |
| Jan 31, 2023 | $0.023 | OrdinaryDividend |
| Dec 30, 2022 | $0.026 | OrdinaryDividend |
| Nov 30, 2022 | $0.024 | OrdinaryDividend |
| Oct 31, 2022 | $0.022 | OrdinaryDividend |
| Sep 30, 2022 | $0.025 | OrdinaryDividend |
| Aug 31, 2022 | $0.023 | OrdinaryDividend |
| Jul 29, 2022 | $0.023 | OrdinaryDividend |
| Jun 30, 2022 | $0.022 | OrdinaryDividend |
| May 31, 2022 | $0.017 | OrdinaryDividend |
| Apr 29, 2022 | $0.021 | OrdinaryDividend |
| Mar 31, 2022 | $0.020 | OrdinaryDividend |
| Feb 28, 2022 | $0.021 | OrdinaryDividend |
| Jan 31, 2022 | $0.018 | OrdinaryDividend |
| Dec 31, 2021 | $0.020 | OrdinaryDividend |
| Nov 30, 2021 | $0.019 | OrdinaryDividend |
| Oct 29, 2021 | $0.020 | OrdinaryDividend |
| Sep 30, 2021 | $0.020 | OrdinaryDividend |
| Aug 31, 2021 | $0.019 | OrdinaryDividend |
| Jul 30, 2021 | $0.020 | OrdinaryDividend |
| Jun 30, 2021 | $0.020 | OrdinaryDividend |
| May 28, 2021 | $0.018 | OrdinaryDividend |
| Apr 30, 2021 | $0.021 | OrdinaryDividend |
| Mar 31, 2021 | $0.018 | OrdinaryDividend |
| Feb 26, 2021 | $0.018 | OrdinaryDividend |
| Jan 29, 2021 | $0.014 | OrdinaryDividend |
| Dec 31, 2020 | $0.017 | OrdinaryDividend |
| Dec 09, 2020 | $0.007 | CapitalGainLongTerm |
| Nov 30, 2020 | $0.016 | OrdinaryDividend |
| Oct 30, 2020 | $0.018 | OrdinaryDividend |
| Sep 30, 2020 | $0.018 | OrdinaryDividend |
| Aug 31, 2020 | $0.016 | OrdinaryDividend |
| Jul 31, 2020 | $0.019 | OrdinaryDividend |
| Jun 30, 2020 | $0.019 | OrdinaryDividend |
| May 29, 2020 | $0.020 | OrdinaryDividend |
| Apr 30, 2020 | $0.021 | OrdinaryDividend |
| Mar 31, 2020 | $0.020 | OrdinaryDividend |
| Feb 28, 2020 | $0.021 | OrdinaryDividend |
| Jan 31, 2020 | $0.023 | OrdinaryDividend |
| Dec 31, 2019 | $0.022 | OrdinaryDividend |
| Nov 29, 2019 | $0.023 | OrdinaryDividend |
| Oct 31, 2019 | $0.022 | OrdinaryDividend |
| Sep 30, 2019 | $0.021 | OrdinaryDividend |
| Aug 30, 2019 | $0.024 | OrdinaryDividend |
| Jul 31, 2019 | $0.022 | OrdinaryDividend |
| Feb 26, 2019 | $0.021 | DailyAccrualFund |
| Jan 29, 2019 | $0.024 | DailyAccrualFund |
| Dec 27, 2018 | $0.024 | DailyAccrualFund |
| Dec 14, 2018 | $0.005 | CapitalGainLongTerm |
| Dec 15, 2017 | $0.003 | CapitalGainLongTerm |
| Dec 15, 2016 | $0.017 | CapitalGainShortTerm |
| Dec 15, 2016 | $0.000 | CapitalGainLongTerm |
| Nov 28, 2014 | $0.021 | OrdinaryDividend |
GNMFX - Fund Manager Analysis
Managers
Brian Hannibal
Start Date
Tenure
Tenure Rank
Nov 03, 2014
7.58
7.6%
Mr. Hannibal is a vice president and portfolio manager for PIMCO Municipals in the Solana Beach office. Prior to joining PIMCO in 2021, he was a portfolio manager at Gurtin Municipal Bond Management, a PIMCO company. Previously, Mr. Hannibal worked for Eaton Vance Investment Managers as a portfolio management assistant in the firm’s municipal bond group. He has 16 years of investment experience and holds an undergraduate degree in economics from San Diego State University.
Peter Gunther
Start Date
Tenure
Tenure Rank
Mar 23, 2022
0.19
0.2%
Mr. Gunther is a portfolio manager for PIMCO Municipals in the Solana Beach office. Prior to joining PIMCO in 2021, he was a vice president in portfolio management for Gurtin Municipal Bond Management, a PIMCO company. Previously, he worked as an investment analyst at Manulife Asset Management and also at John Hancock Investments. He has investment experience since 2011 and holds a graduate degree from California State University, Long Beach, and an undergraduate degree from the University of San Diego.
David Hammer
Start Date
Tenure
Tenure Rank
Mar 23, 2022
0.19
0.2%
Mr. Hammer is an executive vice president in the New York office and head of municipal bond portfolio management. He rejoined PIMCO in 2015 from Morgan Stanley, where he was managing director and head of municipal trading, risk management and research. Previously at PIMCO, he was a senior vice president and municipal bond portfolio manager, and prior to joining PIMCO in 2012, he was an executive director and head of the high yield and distressed municipal bond trading group at Morgan Stanley. He has 17 years of investment experience and holds an undergraduate degree from Syracuse University.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.08 | 35.05 | 7.37 | 1.58 |
