PIMCO Help Needed

[haha]

I am considering adding some PIMCO foreign bond and commodity funds.

I think I remember a discussion here about ways to buy PIMCO institutional class shares, but I can't find it when I search.

It seems that institutional class - for example PCRIX-normally have a $250,000 minimim purchase, but I think they can be bought in smaller hunks from some brokers.

Compared to D class, which is what my broker Fidelity offers, the I class shares save about 50 bp in annual fees.

Have any of you found ways to gain access to PIMCO institutional shares without putting $250,000 into each one you wanted?

Thanks,
Mikey

 

[ESRBob]

Mikey,
I might have posted on this -- I get all those Pimco institutional funds through my DFA advisor, who has a Schwab Master Account that lets him get the institutional funds for his clients. (it is my own account, and he has no trading authority over anything in it).

For me, this made the 1k I paid him for an initial consultation and access to all these funds pay for itself quickly.

A DFA advisor in your area may be willing to offer a similar deal -- I had to pitch to them that I had read William Bernstein and didn't need to be hand-held through a long expensive learning curve to come up to speed on the joys of asset allocation.

Some, however, are put off by people who 'just want access to DFA funds" so tiptoe around a bit.

Find a person at DFA's site: http://www.dfaus.com/find_advisor/

If you get stuck, my guy in suburban NY has said he'd take on savvy indexers on a long-distance basis if need be -- PM me and I'll get you his contact info.

 

[cute fuzzy bunny]

vanguard offers them for very low minimums...something like 2500 or 5000...in your vanguard brokerage account.

 

[RD]

Ameritrade offers PIMCO institutional classes for something like $1500 or $2000. I think that some other discount brokers probably has the same deal but only know for sure about Ameritrade.

 

[haha]

Thanks guys. If all these other brokers can do it, maybe Fidelity will too. If I can do it without moving money-esp my Keo- I'd prefer it that way.

The $250,000 minumum at Fidelity is a bit steep!

Mikey

 

[nwsteve]

It seems that institutional class - for example PCRIX-normally have a $250,000 minimim purchase, but I think they can be bought in smaller hunks from some brokers.

Compared to D class, which is what my broker Fidelity offers, the I class shares save about 50 bp in annual fees.

Mikey,
I am also a Fidelity guy. When I looked at the detail for PCRIX, it indicated the minimum for REtirement accounts was $2500. It also showed the 250k minimum but right below was the lower amount for retirement with additional purchases at same level.
PCRIX has a $75 transaction fee while the Class C PCRDX is a No-transaction fee fund so there is some savings especially on a roundtrp to offset the higher BP expense ratio.
Nwsteve

 

[Nords]

The $250,000 minumum at Fidelity is a bit steep!

The nice thing about Fidelity is that they seem to be open to negotiating over the phone. Call and see what they can do for you...

 

[BUM]

vanguard offers them for very low minimums...something like 2500 or 5000...in your vanguard brokerage account.

I placed a market order for PCRIX with Vanguard late Thursday night. As of Saturday morn, no trade. Hopefully its just compu-lag. Time to call my friendly Stepford Vanguard associate.


BUM

 

[Gonzo]

I have PCRIX with Vanguard... it filled the next business day when I bought.

Gonzo

 

[Hyperborea]

Have any of you found ways to gain access to PIMCO institutional shares without putting $250,000 into each one you wanted?

I can get them through TD Waterhouse. The minimums are $1000 initial investment and $500 subsequent for a taxable account. In an IRA those levels are half that. The transaction fee varies between $30 and $75 depending on the dollar amount invested.

 

[Spanky]

E-trade treats this fund as a no-load, no-transaction fee fund. However, the fund may impose its front-end, back-end or 12b-1 charges.

 

[BUM]

I have PCRIX with Vanguard... it filled the next business day when I bought.

Gonzo

Hi Gonz,

Got it!. Yep Vanguard was just slow in updating my port. You wernt charged any load or 12b fees were you? My only fee (I hope) was $35.00 transaction fee.

BUM