Fund Evaluator:
PIMCO Inflation Response MultiAsst Instl (PIRMX)
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Best Performing in Global Conservative Allocation Over the Last Year
| 24.2% | Lincoln Inflation Plus A (LFTAX) |
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| 8.1% | Victory Cornerstone Conservative (USCCX) |
| 8.0% | Fidelity Advisor Asset Manager 20% Z (FIKVX) |
| 7.9% | Fidelity Asset Manager 20% (FASIX) |
Fund Details
PIMCO Inflation Response MultiAsst Instl Overview
PIMCO Inflation Response MultiAsst Instl (PIRMX) is an actively managed Allocation Global Conservative Allocation fund. PIMCO launched the fund in 2011.
The investment seeks total return which exceeds that of its benchmark. The fund invests in a combination of Fixed Income Instruments of varying maturities, equity securities, affiliated and unaffiliated investment companies, which may or may not be registered under the Investment Company Act of 1940, as amended (the "1940 Act"), forwards and derivatives, such as options, futures contracts or swap agreements, of various asset classes in seeking to mitigate the negative effects of inflation.
About PIMCO Inflation Response MultiAsst Instl (PIRMX)
There are 4 members of the management team with an average tenure of 4.27 years: Andrew Dewitt (2025), Greg Sharenow (2022), Daniel He (2019), Emmanuel Sharef (2022). Management tenure is more important for actively managed funds than passive index funds.
The fund has 6 primary benchmarks: Bloomberg US Agg Bond TR USD index with a weighting of 100%, JPM ELMI+ TR USD index with a weighting of 15%, DJ US Select REIT TR USD index with a weighting of 10%, Bloomberg Sub Gold TR USD index with a weighting of 10%, Bloomberg US Treasury US TIPS TR USD index with a weighting of 45% and Bloomberg Commodity TR USD index with a weighting of 20%. PIMCO Inflation Response MultiAsst Instl has 604 securities in its portfolio. The top 10 holdings constitute 88.4% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
PIMCO Inflation Response MultiAsst Instl is part of the Allocation global asset class and is within the Allocation fund group. PIMCO Inflation Response MultiAsst Instl has 37.4% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 10.0%. There is -0.1% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 106.2% (68.7% domestic bond, 37.5% foreign bond and 0.0% convertible bond). PIMCO Inflation Response MultiAsst Instl has -28.5% of the portfolio in cash.
Assets Under Management
The fund has $1 billion in total assets, which is above the $271 million average for the Global Conservative Allocation category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
PIRMX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The PIMCO Inflation Response MultiAsst Instl expense ratio is high compared to funds in the Global Conservative Allocation category. PIMCO Inflation Response MultiAsst Instl has an expense ratio of 2.14%, which is 106% higher than its category average, making the fund expense ratio grade a F. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. PIMCO Inflation Response MultiAsst Instl has a portfolio turnover rate of 255%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 49% for the Global Conservative Allocation category.
Recently, in the month of August 2026, PIMCO Inflation Response MultiAsst Instl returned 2.4%, which earned it a grade of A, as the Global Conservative Allocation category had an average return of 1.0%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
PIMCO Inflation Response MultiAsst Instl has a trailing yield of 8.14%, which is above the 3.55% category average. The fund normally distributes its income quarterly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
PIMCO Inflation Response MultiAsst Instl Grades
Year to date, the fund has returned 8.6%, 4.4 percentage points better than the category, which translates into a grade of A. The fund has returned 13.5% over the past year (grade of A), 11.4% over the past three years (grade of A) and 6.8% per year over the past five years (grade of A) and 6.8% per year over the past 10 years (grade of A).
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PIRMX Trailing NAV Total Returns Data as of 8/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| PIRMX Return (NAV) | 2.4% | 1.1% | 13.5% | 11.4% | 6.8% | 6.8% |
| PIRMX Grade | A | A | A | A | A | A |
| +/- Category | 1.4% | 0.7% | 6.2% | 3.7% | 3.9% | 2.7% |
| Global Conservative Allocation Avg | 1.0% | 0.4% | 7.3% | 7.7% | 2.9% | 4.1% |
| PIRMX Tax Cost Ratio | na | na | 3.2% | 1.7% | 2.7% | 2.3% |
PIRMX Annual NAV Total ReturnsData as of 8/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| PIRMX Return (NAV) | 8.6% | 16.8% | 5.5% | 6.5% | -5.1% | 13.8% | 9.4% | 10.0% | -3.7% | 8.6% | 10.5% |
| PIRMX Grade | A | A | C | F | A | A | A | D | F | A | A |
| +/- Category | 4.4% | 7.0% | 0.1% | -1.7% | 6.4% | 9.3% | 1.4% | -1.0% | -0.8% | 1.5% | 5.2% |
| Global Conservative Allocation Avg | 4.2% | 9.7% | 5.4% | 8.2% | -11.5% | 4.5% | 8.0% | 11.1% | -2.9% | 7.1% | 5.3% |
| Risk Measures | |
| Standard Deviation: | 5.8% |
| Total Risk Index: | 0.48 - Below Average |
| Category Risk Index: | 1.05 - Above Average |
| Category Risk Grade: | D (75% Rank) |
| Beta: | 0.46 |
| R-Squared: | 52% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Mid-Cap Blend |
| Bond Investment Style: | Medium Quality Limited Sensitivity |
| Yield: | 8.1% |
| Dividend Distribution: | Quarterly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $2067 Mil |
| Fund Total Assets: | $1,926 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 255% |
Management Team
| Number of Managers: 4 | |||
| Longest Tenure: 6.7 years | |||
| Average Tenure: 4.3 years | |||
| Managers (Year): He Daniel (2019), Sharenow Greg (2022), Sharef Emmanuel (2022), Dewitt Andrew (2025) | |||
Portfolio Composition (as of 3/31/26)
| # of Holdings: | 604 |
| % in Top 10 Holdings: | 88.4% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 37.4% |
Portfolio Allocation |
|
| Domestic Stock: | 10.0% |
| Foreign Stock: | -0.1% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 68.7% |
| Foreign Bond: | 37.5% |
| Convertible Bond: | 0.0% |
| Other: | 12.3% |
| Cash: | -28.5% |
Purchase Information
| Fund Family: | PIMCO |
| Phone Number: | 888-877-4626 |
| Website: | www.pimco.com |
| Status: | Open |
| Inception Date: | August 31, 2011 |
| Min. Initial Purchase: | $1,000,000 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 2.14% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.04% |
| Share Class: | PIMCO Inflation Response MultiAsst Instl |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
