Fund Description: PIMCO High Income Fund is an exchange-traded closed-end fund or a closed-end ETF which is officially described in its prospectus as a diversified, closed-end management investment company. INVESTMENT OBJECTIVE: The PIMCO High Income Fund's primary investment objective is to seek high current income. Capital appreciation is a secondary objective. FUND STRATEGY: The Fund will normally invest at least 80% of its net assets in debt securities that are rated below investment grade (below Baa by Moody's, below BBB by either S&P or Fitch, Inc., or below a comparable rating by Dominion Bond Rating Service Limited) or unrated but judged by the portfolio manager to be of comparable quality. The Fund will, under current market conditions, tend to focus on securities that are rated BB/Ba or B by one or more rating agencies or unrated but judged by the portfolio manager to be of comparable quality. The Fund will not invest more than 10% of its total assets in securities that are, at the time of purchase, rated CCC/Caa or lower by each agency rating the security or unrated but judged by the portfolio manager to be of comparable quality. FUND MANAGEMENT: Allianz Global Investors Fund Management LLC, an indirect, wholly-owned subsidiary of Allianz Global Investors of America L.P., serves as the Funds' investment manager and is a member of Munich-based Allianz Group (NYSE:AZ). Pacific Investment Management Company LLC (PIMCO), an Allianz Global Investors Fund Management affiliate, serves as the Funds' sub-adviser.