Fixed Income SHares: Series C
Summary Prospectus
April 30,
2026
| Series |
C |
| Ticker |
FXICX |
Before you invest, you may want to review the Portfolio’s prospectus, which, as supplemented, contains more information about the Portfolio and its risks. You can find the Portfolio’s prospectus, reports to shareholders, and other information about the Portfolio online at www.pimco.com/FISH. You can also get this information at no cost by calling 1-800-927-4648 or by sending an email request to piprocess@sscinc.com. The Portfolio’s prospectus and Statement of Additional Information, both dated April 30, 2026, as supplemented, are incorporated by reference into this Summary Prospectus.
Investment Objective
The Portfolio seeks maximum total return, consistent with preservation of
capital and prudent investment management.
Fees
and Expenses of the Portfolio
The table below describes the fees
and expenses you pay if you buy, hold and sell shares of the Portfolio. You may
pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table and example
below.
| Shareholder Fees (fees paid directly from your investment): |
None |
Annual Portfolio Operating Expenses (expenses that you pay each year as a
percentage of the value of your investment):
| |
FISH: Series C |
| Advisory Fees(1) |
0.00% |
| Other Expenses(2) |
0.10% |
| Total Annual Portfolio Operating Expenses
|
0.10% |
1
The Portfolio does not pay an advisory fee to Pacific Investment Management Company LLC (“PIMCO”) under the Investment Advisory Contract between PIMCO Managed Accounts Trust
(the “Trust”) and PIMCO (the “Investment Advisory Contract”). However, the Portfolio is an integral part of “wrap-fee” programs, including those sponsored by investment advisers and broker- dealers unaffiliated with the Portfolio or PIMCO.
Participants in these programs pay a “wrap” fee to the sponsor of the program. You should read carefully the wrap-fee brochure provided to you by the sponsor or your investment adviser. The brochure is required to include information about the fees charged
to you by the sponsor and the fees paid by the sponsor to PIMCO and its affiliates. You pay no additional fees or expenses to purchase shares of the Portfolio.
2
“Other Expenses” include interest expense of 0.10%. Interest expense is
borne by the Portfolio separately from the management fees paid to PIMCO. Excluding interest
expense, Total Annual Portfolio Operating Expenses are 0.00%.
Example. This Example is intended to help you compare the cost of investing in shares of the Portfolio with the costs of investing in other mutual funds. The Example assumes
that you invest $10,000 in shares of the Portfolio for the time periods indicated, and then hold or redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return
each year and the Portfolio’s operating expenses remain the same. Although your actual costs may be higher or lower, the Example shows what your costs would be based on these assumptions.
| |
1 Year |
3 Years |
5 Years |
10 Years |
| FISH: Series C |
$10 |
$32 |
$56 |
$128 |
Portfolio Turnover
The Portfolio pays transaction costs when it buys and sells securities (or “turns over” its
portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Portfolio shares are held in a taxable account. These costs, which are not reflected in the Annual Portfolio Operating
Expenses or in the Example table, can adversely affect the Portfolio’s performance. During the most recent fiscal year, the Portfolio’s portfolio turnover rate was 584% of the average value of its portfolio.
Principal Investment Strategies
The Portfolio seeks to achieve its investment objective by normally investing substantially all (and at least 80%) of its net assets (plus borrowings made for investment
purposes) in a portfolio of U.S. and foreign fixed income instruments including (but not limited to): corporate debt securities of U.S. and non-U.S. issuers, including convertible securities and corporate
commercial paper; floating and variable rate debt instruments, inflation-indexed bonds issued by
corporations; structured notes, including hybrid or “indexed” securities and
event-linked bonds; loan participations and assignments; delayed funding loans and revolving credit facilities; bank certificates of deposit, fixed time deposits and bankers’ acceptances; repurchase agreements and reverse repurchase agreements;
debt securities issued by states or local governments and their agencies, authorities and other
instrumentalities; obligations of non-U.S. governments and their subdivisions, agencies and
government sponsored enterprises; obligations of international agencies or supranational entities;
obligations issued or guaranteed by the U.S. Government, its agencies and instrumentalities;
mortgage-related and other asset-backed securities, such as mortgage pass-through securities, collateralized mortgage obligations, commercial mortgage-backed securities, mortgage dollar rolls, stripped mortgage-backed
securities, collateralized bond obligations (“CBOs”), collateralized loan obligations
(“CLOs”), other collateralized debt obligations (“CDOs”) and other
similarly structured securities; and derivative instruments that have economic characteristics
similar to the securities referenced above.
The Portfolio may
invest up to 50% of its assets in high yield securities (“junk bonds”) rated B or higher by Moody's Ratings (“Moody’s”), or equivalently rated by Standard & Poor’s (“S&P”) or Fitch Ratings, Inc.
(“Fitch”) or, if unrated, determined by PIMCO to be of comparable quality to
securities so rated. In the event that ratings services assign different ratings to the same security, PIMCO will use the highest rating as the credit rating for that security. Subject to the limitations set forth in this prospectus, the Portfolio
may invest in foreign (non-U.S.) currencies, securities denominated in foreign (non-U.S.) currencies, U.S. dollar denominated securities of foreign issuers, and securities and instruments of issuers that are
economically tied to emerging market countries.
PIMCO Managed Accounts Trust | Summary
Prospectus
