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PIMCO Municipal Bond A PMLAX Fund Analysis

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Morningstar’s Analysis PMLAX

Will PMLAX outperform in future?

Get our overall rating based on a fundamental assessment of the pillars below.

Turnover remains a concern.

Senior Analyst

Summary

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Pimco Municipal Bond is managed by a highly experienced group of portfolio managers and analysts who apply a sector-agnostic, relative value driven approach across most sectors of the municipal market, including taxable munis. The fund’s track record is compelling; however, concerns about the continuing turnover on the muni team after Pimco acquired Gurtin Municipal Bond Management in 2019 underpin a Morningstar Analyst Rating of Neutral for all its share classes save its C shares, which are rated Negative.

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