PIMCO INCOME STRATEGY FUND

# PIMCO Income Strategy Fund

PIMCO Income Strategy Fund is a closed-end fixed income mutual fund that invests in floating rate debt instruments globally. Launched in 2003 and domiciled in the United States, the fund targets income generation through exposure to variable-rate fixed income securities with an average duration of approximately three years. The fund employs a fundamental analysis approach combined with top-down portfolio construction to identify investment opportunities across global debt markets.

The fund is managed by Allianz Global Investors Fund Management LLC, with co-management by Pacific Investment Management Company LLC (PIMCO). The fund's strategy centers on diversified floating rate debt holdings, which provide income while limiting interest rate sensitivity compared to fixed-rate instruments. The floating rate structure adjusts to prevailing market interest rates, making the fund's yield responsive to changes in the interest rate environment.

As a closed-end fund structure traded on the NYSE, PIMCO Income Strategy Fund operates with a fixed pool of capital rather than the continuous share issuance and redemption typical of open-end mutual funds. The fund's geographic reach spans global fixed income markets, allowing exposure to debt instruments across multiple countries and currencies based on portfolio manager selection criteria.