PCM FUND, INC.

# PCM Fund, Inc.

Incorporated in Maryland and headquartered in Newport Beach, California, PCM Fund is a closed-end fixed income mutual fund listed on the NYSE. The fund was established in September 1993 and is managed by Allianz Global Investors Fund Management LLC in partnership with Pacific Investment Management Company LLC. The fund's primary objective is to generate income through investments in fixed income securities, with a specific focus on commercial mortgage-backed securities (CMBS).

The fund employs a fundamental analysis approach with top-down stock selection methodology to construct its portfolio. Its investment strategy centers on CMBS instruments, which are debt securities backed by pools of commercial mortgages. Performance is benchmarked against the Barclays CMBS Investment Grade Index, which serves as the primary reference point for evaluating portfolio performance relative to the broader commercial mortgage-backed securities market.

As a closed-end fund structure, PCM Fund operates with a fixed number of shares outstanding and trades on a secondary market, distinguishing it from open-end mutual funds. The fund generates revenue through management fees charged on assets under management and distributes income to shareholders from its investment portfolio holdings. The organization maintains operations in the United States, with its primary focus on the domestic CMBS market.