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PL Floating Rate Income Fund Fact Sheet Pacific Life Funds

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PL Floating Rate Income Fund Fact Sheet Pacific Life Funds Powered By Docstoc
					                                                                                                                                                          September 30, 2012



                                                       PL Floating Rate Income Fund
                                                                                             A Shares                              C Shares                            Advisor Shares
Fund Overview                                          CUSIP
                                                       Ticker
                                                                                           69448A 87 0
                                                                                              PLFLX
                                                                                                                                 69448A 86 2
                                                                                                                                    PLBCX
                                                                                                                                                                       69447T 71 4
                                                                                                                                                                          PLFDX
Goal: This fund seeks a high level of
current income.                                The PL Floating Rate Income Fund is:
Investment Strategy: This fund                 ◾ Designed for Income: Constructed to seek steady streams of higher income.
generally invests at least 80% of              ◾ Built for Portfolio Diversification: Floating-rate loans may complement a traditional
its assets in floating-rate loans and
                                                     fixed-income portfolio.
floating-rate debt securities. Floating-rate
                                               ◾ Based on Experience: A portfolio management team that specializes in institutional
loans and floating-rate debt securities
                                                     fixed-income asset management.
are those with interest rates which
float, adjust, or vary periodically
based on a benchmark indicator,                Fund Snapshot
a specified adjustment schedule, or
prevailing interest rates. Floating-rate       The PL Floating Rate Income Fund invests primarily in floating-rate loans of non-investment-grade
loans and floating-rate debt securities        companies. These investments can serve as both an income driver and a hedge against rising
in which the fund invests consist              interest rates.
of senior secured and unsecured                Floating-rate loans, also known as senior bank loans, are variable-rate loans made by financial
floating-rate loans, secured and               institutions to companies that are generally considered to have low credit quality. Borrowers
unsecured second lien floating-rate            enter into these loans to raise capital. In exchange for investing with these companies, holders
loans, and floating-rate debt securities       typically receive higher levels of income.
of domestic and foreign issuers.
                                                                                                                                                                   Life of Fund
                                                   Performance                                                           1-Month          3-Month             YTD
                                                                                                                                                                    6/30/11
Investor Profile                                                    A Shares—NAV †                                          0.92%           2.96%            8.22%    6.66%
Designed for investors who seek a high             PL Floating Rate A Shares—Load Adjusted †                               (2.14)          (0.11)            5.01     4.09
level of current income in a diversified            Income Fund     C Shares—NAV †                                          0.97            2.79             7.77     5.98
fixed-income portfolio.
                                                                    Advisor Shares ††                                       0.93            2.89             8.23     6.67
                                                   Credit Suisse Leveraged Loan Index†††                                    1.08            3.14             7.80             5.22
Investment Management
                                                   Yield (as of September 30, 2012)                                                                  Class A
Portfolio Manager (since inception)
Pacific Asset Management                           30-Day SEC Yield                                                                                   4.49%

  Jason R. Rosiak                              †
                                                Class A and C shares incepted on 12/29/11. ††Advisor Shares incepted on 6/29/12. Performance shown prior to that date is hypothetical
  Senior Managing Director; more than          and is that of Class I shares (6/30/11 inception date), restated to reflect the higher 12b-1 fees applicable to Class A, C, and Advisor shares.
  18 years of investment experience
                                               About Risk
  JP Leasure                                   As with any mutual fund, the value of the fund’s holdings will fluctuate so that shares, when
  Senior Managing Director; more than          redeemed, may be worth more or less than their original cost. The fund is subject to interest-
  15 years of investment experience            rate risk (bond prices generally fall when interest rates rise) and credit risk (the risk an issuer
                                               may be unable or unwilling to meet its financial obligations). Floating-rate loans involve risk
  Michael Marzouk, CFA                         of default on interest or principal payments along with risks of bankruptcy and illiquidity. The
  Managing Director; more than                 fund invests in high-yield securities, which have greater credit risk than higher-quality bonds.
  14 years of investment experience            The fund is subject to liquidity risk (the risk that certain investments may be difficult to purchase
Investment Advisor                             and sell in adverse market conditions). International investing is subject to currency fluctuations
                                               and political changes, which may make the fund’s foreign holdings more volatile and less
Pacific Life Fund Advisors LLC (PLFA)
                                               liquid than U.S. investments. Investments rated below investment grade are generally subject
                                               to greater price volatility and illiquidity than higher-rated investments.
                                               †††
                                                  The Credit Suisse Leveraged Loan Index is an index of U.S. dollar-denominated leveraged loan market securities. The total return
     No bank guarantee                         is equal to the change in price plus the coupon return. Index inception dates exist prior to 6/30/11. The 30-Day Standardized
                                               Yield reflects an estimated yield to maturity. It should be regarded as an estimate of the fund’s rate of investment income, and it
Not a deposit • May lose value                 may not equal the fund’s actual income distribution rate, which reflects the fund’s past dividends paid to shareholders. High Yield
 Not FDIC/NCUA insured                         Corporate Bonds and Senior Floating Rate Loans are typically non-investment grade. For performance data current to the most
                                               recent month-end, call Pacific Life Funds at (800) 722-2333, option 2. Performance data quoted represents
 Not insured by any federal                    past performance, which does not guarantee future results. Current performance may be lower or higher than
     government agency                         the performance quoted. The investment return and principal value of an investment will fluctuate so, when
                                               redeemed, may be worth more or less than the original cost.

10/12
30656-12D
 PL Floating Rate Income Fund                                                                                                                                                   September 30, 2012


 Fund Composition
  Asset Allocation                                     Credit Quality Allocation                             Industry Diversification
  Floating Rate Loans            91.97%                of Bonds
  High Yield Bonds                 6.82                    BBB and Above        4.41%
  Investment-Grade                                         BB                 53.19
                                   0.30
  Bonds                                                    B                  37.15
  Cash and Other                   0.91                    CCC and Below        5.25


 Pacific Asset Management (PAM) receives credit quality ratings on underlying securities of the Fund
 from major rating agencies – S&P, Moody’s, and/or Fitch. The credit quality allocation is provided
 by PAM. When the rating agencies rate a security differently, PAM uses the higher rating. Below
 investment-grade is represented by a rating of BB and below. PAM converts all ratings to the
 equivalent S&P major rating category for purposes of the category shown. Ratings and portfolio
 credit quality may change over time. Unrated securities do not necessarily indicate low quality.
                                                                                                                 Healthcare                        14.77%           Gaming/Leisure                     6.24%
 Characteristics
                                                                                                                 Media/Telcom                      12.11%           Financial                          5.23%
 Duration                                                             0.55 years
                                                                                                                 Retail                             9.55%           Transportation                     4.44%
 Weighted Average Maturity                                            4.90 years
                                                                                                                  Food/Tobacco                      7.67%           Forest/Containers                  3.04%
 Average Price                                                    100.56
                                                                                                                  Service                           7.02%           Manufacturing                      3.03%
 Number of Issues                                                     119

                                                                                                             Top 10 Holdings                                                Maturity             Weight
 Fund Information
                                                                                                             Bausch & Lomb Parent                                         05/18/19                1.66%
                                            A Shares             C Shares         Advisor Shares
                                                                                                             SUPERVALU                                                    08/30/18                1.65
  Inception Date            12/29/11       12/29/11      6/29/12
  Minimum Initial/                                                                                           WaveDivision Holdings                                        07/18/19                1.65
                           $1,000/$50 $1,000/$50           N/A†
  Subsequent Investment                                                                                      Sealed Air Corporation                                       10/03/18                1.63
  Sales Load/Maximum                                                                                         U.S. Foodservice Incremental                                 05/11/17                1.60
                          Front-End/3.0% CDSC/1.0%         None
  Sales Charge
                                                                                                             Capsugel Holdings US, Inc.                                   08/01/18                1.56
  Net/Gross Expense Ratio 1.06%/1.34% 1.81%/2.09% 0.81%/1.09%
                                                                                                             EP Energy                                                    05/24/18                1.38
  Distributions              Monthly Dividends/Annual Capital Gains
                                                                                                             DaVita Inc.                                                  08/01/19                1.37
 PLFA has contractually agreed to limit certain operating expenses incurred by the PL Floating Rate
 Income Fund that exceed an annual rate of 0.15% through 12/31/14. There is no guarantee that                DJO Finance LLC                                               09/15/17               1.37
 PLFA will continue to cap expenses after the expiration date.                                               Intelsat Jackson Holdings SA 7.25%                           10/15/20                1.21
 †
  Contact your financial advisor.


 This material must be preceded or accompanied by the Pacific Life Funds prospectus and/or applicable summary prospectus.
 Contact your financial advisor or visit www.PLFunds.com for more information, including the prospectus and/or summary
 prospectus that contains more complete information, as well as the risks, charges, expenses, and investment goals of
 Pacific Life Funds. Read them carefully before investing.
 Duration is a measure of a portfolio’s price sensitivity expressed in years. Average price is a measure of a range of prices that is calculated by taking the sum of the values and dividing it by the number
 of prices being examined.
 Total annual operating expenses reflect the current gross expenses paid by the fund. Net operating expenses reflect waivers, reductions, and reimbursements. Total annual operating expenses and net
 operating expenses are sourced from the amended and restated prospectus dated July 1, 2012. Expense cap waivers are reevaluated annually. Class A shares have a maximum 3.0% sales charge.
 Class C shares have a maximum 1.0% sales charge. Where sales charge is illustrated it is applied at the beginning of the period. Please see the prospectus for more information.
 The PL Floating Rate Income Fund is offered by Pacific Life Funds. Pacific Life Funds are distributed by Pacific Select Distributors, Inc. (member FINRA & SIPC), a subsidiary of Pacific Life Insurance Company
 (Newport Beach, CA), and are available through licensed third-party broker/dealers.
 Pacific Life Fund Advisors LLC (PLFA), a wholly owned subsidiary of Pacific Life Insurance Company, is the investment advisor to the Pacific Life Funds (PLF)
 and the manager of certain PLF funds. PLFA also does business under the name Pacific Asset Management and manages certain PLF funds under that name.                                           30656-12D
                                                                                                                                                                                                 Exp. 1/13




Mailing address:
P.O. Box 9768, Providence, RI 02940-9768
(800) 722-2333, Option 2 • www.PLFunds.com

				
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