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PIMCO SWEEPS BOND FUND RANKINGS

 NEWPORT BEACH, Calif., Jan. 21 /PRNewswire/ -- In what amounts to a rankings rout, Pacific Investment Management Co. (PIMCO) managed all of the top five performing mutual funds of 1992 in the Intermediate Investment Grade Debt Funds category tracked by Lipper Analytical Services Inc. According to A. Michael Lipper, president, this domination of the rankings by a single investment manager is a rare event.
 PIMCO is one of the nation's largest investment advisers with more than $41 billion in assets under management. The firm has historically focused on well-known institutions but has been able to amass a hefty $7.5 billion in mutual fund assets since launching the PIMCO Funds series in 1987. "We recognized the need to branch out into the mutual fund business as we saw considerable demand for our services among individuals and institutions who couldn't meet our separate account minimum of $75 million," says Brent R. Harris, chairman of the PIMCO Funds.
 Three of the five top performing bond funds, the Total Return I, II and III Funds, belong to the PIMCO Funds series, while the other two, the PFAMCo Managed Bond & Income Fund and the Harbor Bond Fund, are run by other fund companies that have hired PIMCO to serve as adviser. Each fund maintains an average bond portfolio maturity of about eight to 12 years with the aim of consistently generating attractive total returns (income plus capital gains) without taking undue risk.
 This strategy has paid off for investors. Besides garnering the top one-year rankings of 1992, the two funds with the longest track records, the PIMCO Total Return Fund and the Harbor Bond Fund, captured first and second place, respectively, in Lipper's performance rankings for the five-year period ended Dec. 31, 1992. And the PIMCO Total Return Fund has recently received the coveted five-star rating by Morningstar Inc.
 How has PIMCO been able to achieve this record? According to the funds' portfolio manager, William H. Gross, "By taking the long view, where we stay the course in spite of temporary bumps in the road, and by running down every opportunity in the bond market that makes sense for our clients." PIMCO doesn't restrict itself to investing in only certain sectors of the bond market, as many bond funds do, but rather has built up considerable expertise in all sectors, including hedged foreign bonds, futures and options markets. This way, PIMCO has a competitive advantage over many other managers when it comes to structuring the optimal bond portfolio.
 The PIMCO Funds are no-load and expenses are limited to no more than 0.50 percent of assets per year for most funds. For a small transaction charge, fund shares may be purchased for as little as $1,000 from some discount brokerage firms such as Charles Schwab & Co. A minimum initial investment of $500,000 is required to purchase shares directly. The PIMCO Funds toll-free number is 800-800-0952.
 -0- 1/21/93
 /CONTACT: Wes Burns of PIMCO, 714-760-4867/


CO: Pacific Investment Management Co. ST: California IN: FIN SU:

MS-LS -- LA003 -- 7351 01/21/93 11:14 EST
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Publication:PR Newswire
Date:Jan 21, 1993
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