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PIMCO Emerging Markets Currency and Short-Term Investments Fund is not liquidating

edited October 2020 in Fund Discussions
https://www.sec.gov/Archives/edgar/data/810893/000119312520263401/d96445d497.htm

(see link above for other changes)

497 1 d96445d497.htm 497
PIMCO Funds

Supplement dated October 5, 2020 to the International Bond Funds Prospectus

dated July 31, 2020, as supplemented from time to time; and to the Statement of Additional Information dated July 31, 2020, as supplemented from time to time

Disclosure Related to the PIMCO Emerging Markets Currency and Short-Term Investments Fund (the “Fund)

This supplement supersedes and replaces the supplement filed for the Fund on August 21, 2020.

Pursuant to a recommendation by the Fund’s investment adviser, Pacific Investment Management Company LLC (“PIMCO”), the Board of Trustees (the “Board”) of PIMCO Funds (the “Trust”) previously approved a Plan of Liquidation for the Fund pursuant to which the Fund was scheduled to suspend sales on November 20, 2020 and to be liquidated on or about January 7, 2021. PIMCO subsequently reconsidered its recommendation, particularly in light of its desire to offer a diverse range of funds for different possible market scenarios given unique market conditions, and determined that it would recommend that the Fund continue its operations. Accordingly, PIMCO proposed that the Board withdraw the Plan of Liquidation. Following a determination that withdrawing the Plan of Liquidation is advisable and in the best interests of the Fund and its shareholders, the Board approved PIMCO’s proposal to withdraw the Plan of Liquidation.

Accordingly, the Fund will continue operations past January 7, 2021 and will not be liquidated. The Fund will continue to offer shares to new investors and existing shareholders, including exchanges into the Fund from other funds of the Trust or funds of PIMCO Equity Series. In addition, effective November 20, 2020, purchases of Class A shares of the Fund will be subject to initial sales charges, as applicable, and redemptions of Class A shares of the Fund purchased on or after November 20, 2020 will be subject to contingent deferred sales charges, as applicable, as if the Fund had not previously announced the prior approval of the Plan of Liquidation.

If you have any questions regarding this supplement, please contact the Trust at 1-888-877-4626.

Investors Should Retain This Supplement For Future Reference...

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