PIMCO's PGP Fund: A Discounted Attractive Offering

The PIMCO Global StocksPLUS & Income Fund (PGP) is a unique offering that blends a multi-sector fixed-income fund with some equity exposure, making it an attractive investment option. The fund has fallen to a discount, making it a potentially undervalued opportunity. With a focus on income generation and capital preservation, PGP is suitable for investors seeking a balanced investment strategy.

The PIMCO Global StocksPLUS® & Income Fund (PGP) is a closed-end fund that combines a multi-sector fixed-income strategy with a modest allocation to equities, offering investors a diversified approach to income generation and capital preservation. As of June 13, 2026, the fund is trading at a share price of $8.63, with a net asset value (NAV) of $8.64, reflecting a discount of 0.93%. Over the past 52 weeks, the fund has traded between $6.56 and $9.41, with an average discount of 0.85%.

PGP pays a monthly distribution of $0.0690, translating to an annualized distribution rate of 9.59%. The fund’s investment objective is to achieve total return through a combination of current income, current gains, and long-term capital appreciation. It is managed by Alfred T. Murata and Daniel J. Ivascyn, with corporate bonds, securitized assets, and government-related securities.

The fund employs leverage, with effective leverage of 50.17% as of March 16, 2026. Annual expense ratios are 2.53%, including management fees and interest expenses. PGP has a long-term track record, having been in operation since May 31, 2005. Its performance has shown resilience, with 28.45% total return on NAV over the past 12 months. Investors considering PGP should evaluate its risk-return profile, leverage usage, and alignment with their investment goals.