PIMCO Managed Conservative Bond Pool A

The investment objective of the Fund is to achieve maximum total return, consistent with preservation of capital and prudent investment management. The Fund invests primarily in units of other mutual funds managed by PIMCO Canada (called the underlying funds), emphasizing mutual funds that invest in fixed-income securities. The Fund seeks to achieve its objectives by selecting underlying funds that primarily invest in fixed-income securities to construct a portfolio that is diversified across sectors, geographies, maturities and credit quality, among other relevant factors, and generally invests a portion of its assets in underlying funds that seek lower exposure to changes in interest rates. The Fund allocates and rebalances across the underlying funds based on PIMCO’s assessment of the fixed income markets and the underlying funds’ ability to help the Fund meet its stated investment objectives.