PIMCO Low Duration Income Fund 

The fund's main objective is to generate a high level of current income, while also pursuing long-term growth in capital as a secondary aim. To accomplish this, it typically allocates at least 65% of its overall assets to a varied portfolio of fixed-income investments from diverse sectors, with a range of maturity dates. This investment strategy can also involve using financial instruments such as forward contracts or derivatives, including options, futures, and swap agreements. The fund has the flexibility to invest up to 30% of its total capital in high-yield debt instruments, which are classified as below investment grade by major rating agencies like Moody's, S&P, or Fitch, or by PIMCO's own evaluation if unrated.