8/3/2019 PIMCO GIS Euro Liquidity Inst

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COREALTERNATIVES ASSET ALLOCATION CREDIT EQUITYEMERGING MKTS GLOBAL GOV’T/MORT INFLATION PROTECTION

Euro Liquidity Fund

■ The ECB maintained its main policy rate at 1.5%■ The euro–zone CPI remained flat at 3.0% during October■ European leaders agreed that systemically important banks should meet Core Tier 1 capital ratios

of 9% by the end of June 2012PORTFOLIO RECAP■ The Fund performed in line with its benchmark for the month■ Contributors to portfolio performance included:

➢ Exposure to corporate treasury bills which generated carry versus the benchmark

MARKET OUTLOOK AND STRATEGY■ Maintain high quality bias by owning top quality short–term issues and continue to emphasize

liquid securities that provide low price volatility■ Own discount bills issued by European governments and seek to enhance yields with select high

quality covered bonds■ Maintain exposure to longer maturity issues in order to benefit from the steepness of the money

market curve

Institutional Class, Accumulation andIncome SharesFor the month ending 31 October 2011

For questions regardingthe PIMCO Funds:

Global Investors Series plc,please call +44 (0) 20 7408 8955

Visit our Website fora full menu of products

and services atwww.europe.pimco-funds.com

A MSTERDAM ■ H ONG K ONG ■ L ONDON ■ M UNICH ■ N EW Y ORK ■ N EWPORT B EACH ■ S INGAPORE ■ S YDNEY ■ T OKYO ■ T ORONTO ■ Z URICH

Fund Description: The Euro Liquidity Fund is actively managed topreserve capital, maximise current income and maintain daily liq-uidity, while minimising any risk relative to the benchmark. Thefund invests solely in Euro–denominated instruments with maturi- ties of fewer than 397 days and maintains a weighted averagematurity of 60 days or less.

Investor Benefits: The Fund attempts to maintain a stable netasset value development, although there can be no assurance itwill be successful in doing so.

The Fund Advantage:This Fund meets key objectives of cashinvestors by maintaining high credit quality, liquidity, principal sta-bility and a steady source of income.

FUND INFORMATION

Bloomberg Ticker PIMELIN PIMELIIISIN IE00B3KBGQ10 IE00B2RCGF99Sedol B3KBGQ1 B2RCGF9Valoren 4888796 CH4234706WKN A0RDUC A0Q0AHUnified Management Fee 0.25% 0.25%Inception Date 16/12/2008 13/05/20087 Day Money Mkt Yield - 0.77%30 Day Money Mkt Yield - 0.72%Fund Type UCITSPortfolio Manager Thomas FinkenzellerFund Assets 194.9 (EUR in Millions)Distribution Income Class Shares Daily Accrual

BASIC FACTS

Accumulat ion Income

Effective Duration (yrs) 0.13Benchmark Duration (yrs) 0.00Current Yield (%) 1.81Market Weighted Yield (%) 0.84Average Coupon 1.84Effective Maturity (yrs) 0.28

F U N D S T AT I S T I C S

0

0.2

0.4

0.6

0.8

1

MARKET COMMENTARY

T o t a l

R e t u r n

( % )

PERFORMANCE - NET OF FEES

The benchmark is Eonia - Euro OverNight Index Average. All periods longer than one year are annualised.

PIMCO Fund -Accum (%)* - 0.70 0.40 0.20 0.11 - 0.80 0.60

3 yrs 1 yr 6 mos 3 mos 1 mo 2009 2010 YTD

PIMCO Fund -Income (%)* 0.72 0.73 0.44 0.19 0.07 0.78 0.29 0.63

0.74 0.66 0.37 0.18 0.06 0.72 0.44 0.57Benchmark (%)

*As the fund was officially closed on 31 October 2011 owing to the public holiday in Ireland, for performance measurement purposes(only) an estimated Net Asset Value (NAV) has been calculated based upon a fair value of the fund as at 31 October 2011. The estimatedNAV has been used in the figures above to show the performance of the fund in comparison to the relevant benchmark.

Core Strategies

EuriborPLUS Euro Bond Euro Liquidity Global AdvantageLow Average Duration Total Return Bond UK Sterling Low UK Total Return BondUS Government Average DurationMoney Market

8/3/2019 PIMCO GIS Euro Liquidity Inst

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MANAGERPIMCO Global Advisors (Ireland) Limited

INVESTMENT ADVISOR

CONTACT:

PIMCO Europe Ltd(Registered in England and Wales, Company No.2604517)Registered OfficeNations House, 103 Wigmore StreetLondon, W1U 1QS, EnglandTel: +44 (0) 20 7408 8955GISFundSupport@pimco.com

PIMCO Asia Pte Ltd501 Orchard Road #08-03, Wheelock PlaceSingapore 238880Tel: +65 6491 8000AsiaFunds@pimco.com

Pacific Investment Management Company LLC840 Newport Center DriveNewport Beach, CA92660Tel: + 1 (949) 720 4706GISFundSupport@pimco.com

PIMCO Europe Ltd.

Eonia (Euro OverNight Index Average) is the effec-tive overnight reference rate for the euro. It is com-puted as a weighted average of all overnight unse-cured lending transactions undertaken in the inter- bank market, initiated within the euro area by thecontributing banks.

ABOUT THE BENCHMARK

ABOUT PIMCOPIMCO, founded in 1971, is a global investment solutions provider managing retirement andother assets for more than 8 million people in the U.S. and millions more around the world.Our clients include state, local and union pension and retirement plans whose beneficiaries

come from all walks of life, including educators, healthcare workers and public safetyemployees. We also serve individual investors, working in partnership with financial inter-mediaries such as Registered Investment Advisors, broker/dealers, trust banks and insurancecompanies. We are advisors and asset managers to central banks, corporations, universities,foundations and endowments. PIMCO has offices in North America, Europe, Asia andAustralia and is owned by Allianz Global Investors, a subsidiary of the Munich-based AllianzGroup, a leading global insurance company.

PIMCO Asia Limited is licensed pursuant to the Securities and Futures Ordinance in Hong Kong. PIMCO Europe Ltd (Company No. 2604517), PIMCO Europe Ltd. Munich Branch(Company No. 157591) and PIMCO Europe Ltd. Amsterdam Branch (Company No. 24319743) are authorized and regulated by the Financial Services Authority (25 The North Colonnade,Canary Wharf, London E14 5HS) in the UK. PIMCO Europe Ltd. Munich Branch is additionally regulated by the BaFin in Germany in accordance with Section 53b of the GermanBanking Act. PIMCO Europe Ltd. Amsterdam Branch is additionally regulated by the AFM in the Netherlands. PIMCO Asia Pte Ltd (Registration No. 199804652K) is regulated by theMonetary Authority of Singapore. PIMCO Australia Pty Ltd, AFSL 246862 and ABN 54084280508, offers services to wholesale clients as defined in the Corporations Act 2001. PIMCOJapan Ltd, Financial Instruments Business Registration Number: Director of Kanto Local Finance Bureau (Financial Instruments Firm) No.382. Member of Japan Securities InvestmentAdvisers Association and Investment Trusts Association. Investment management products and services offered by PIMCO Japan Ltd are offered only to persons within its respectivejurisdiction, and are not available to persons where provision of such products or services is unauthorized. PIMCO Canada Corp provides services only to accredited investors within

certain provinces or territories in accordance with applicable law. Past per formance is not a guarantee or a reliable indicator of f uture resul ts. Performance data shown is after theeffect of fees. The value of shares can go up as well as down. The Fund can invest a portion of its assets in non-Euro securities, which can entail greater risks due to non-Euro eco-nomic and political developments. This risk may be enhanced when investing in Emerging Markets. Investment in a Fund that invests in high-yield, lower-rated securities, will generallyinvolve greater volatility and risk to principal than investments in higher-rated securities. This Fund may use derivative instruments for hedging purposes or as part of its investmentstrategy. Use of these instruments may involve certain costs and risks. Portfolios investing in derivatives could lose more than the principal amount invested. PIMCO provides servicesto qualified institutions and investors who fall within the category of professional client as defined in the FSA's Handbook. Retail investors wishing to purchase PIMCO Funds sharesshould do so via their financial intermediary. This report is not a public offer. This information is not for use within any country or with respect to any person(s) where such use couldconstitute a violation of the applicable law. PIMCO Funds: Global Investors Series plc is an umbrella type open-ended investment company with variable capital and with segregatedliability between Funds incorporated with limited liability under the laws of Ireland with registered number 276928. This communication must be accompanied or preceded by a PIMCOFunds: Global Investors Series plc prospectus. Copyright 2011, PIMCO.

Treasury 5Agency 26Domestic Commercial Paper 0Yankee Commercial Paper 0Repurchase Agreements 46Floating Rate Notes 0Other 23Cash 0

SECTOR DIVERSIFICATION (%)

MARKET VALUE WEIGHTED