# Independent auditor’s report to the members of PIMCO ETFs plc (continued)
The purpose of our audit work and to whom we owe our responsibilities
This report is made solely to the Company’s members, as a body, in accordance with section 391 of the Companies Act 2014. Our audit work has been undertaken so that we might state to the Company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
Report on other legal and regulatory requirements
We were appointed by the Board of Directors on 28 January 2021 to audit the financial statements for the financial year ended 31 March 2021. This is the first year we have been engaged to audit the financial statements of the Company.
We are responsible for obtaining reasonable assurance that the financial statements taken as a whole are free from material misstatement, whether caused by fraud or error. Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatements of the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISAs. Our audit approach is a risk-based approach and is explained more fully in the ‘Responsibilities of the auditor for the audit of the financial statements’ section of our report.
We have not provided non-audit services prohibited by the IAASA’s Ethical Standard and have remained independent of the Company in conducting the audit.
The audit opinion is consistent with the additional report to the audit committee.
Niamh Meenan
For and on behalf of
Grant Thornton
Chartered Accountants & Statutory Audit Firm
Dublin Ireland
28 July 2021
Annual Report 
| 
31 March 2021 105

## Depositary’s Report
We have enquired into the conduct of PIMCO ETFs plc (the “Company”) for the financial year ended 31 March 2021, in our capacity as Depositary to the Company.
This report including the opinion has been prepared for and solely for the shareholders in the Company as a body, in accordance with Regulation 34, (1), (3) and (4) in Part 5 of the European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations 2011, as amended, (“the UCITS Regulations”), and for no other purpose. We do not, in giving this opinion, accept or assume responsibility for any other purpose or to any other person to whom this report is shown.
RESPONSIBILITIES OF THE DEPOSITARY
Our duties and responsibilities are outlined in Regulation 34, (1), (3) and
(4) in Part 5 of the UCITS Regulations. One of those duties is to enquire into the conduct of the Company in each annual accounting period and report thereon to the shareholders.
Our report shall state whether, in our opinion, the Company has been managed in that financial period in accordance with the provisions of the Company’s constitution (the “Constitution”) and the UCITS Regulations. It is the overall responsibility of the Company to comply with these provisions. If the Company has not so complied, we as Depositary must state why this is the case and outline the steps which we have taken to rectify the situation.
BASIS OF DEPOSITARY OPINION
The Depositary conducts such reviews as it, in its reasonable opinion, considers necessary in order to comply with its duties as outlined in Regulation 34, (1), (3) and (4) in Part 5 of the UCITS Regulations and to ensure that, in all material respects, the Company has been managed
(i) in accordance with the limitations imposed on its investment and borrowing powers by the provisions of the Constitution and the UCITS Regulations and (ii) otherwise in accordance with the Constitution and the appropriate regulations.
OPINION
In our opinion, the Company has been managed during the financial period, in all material respects:
- in accordance with the limitations imposed on the investment and borrowing powers of the Company by the Constitution, the UCITS Regulations and the Central Bank (Supervision and Enforcement) Act 2013 (Section 48(1)) (Undertakings for Collective Investment in Transferable Securities) Regulations 2019, (“the Central Bank UCITS Regulations”); and
- otherwise in accordance with the provisions of the Constitution, the UCITS Regulations and the Central Bank UCITS Regulations.

State Street Custodial Services (Ireland) Limited, 78 Sir John Rogerson’s Quay,
Dublin D02 HD32 Ireland
Date: 28 July 2021
106 PIMCO ETFs plc
PIMCO Global Advisors (Ireland) Limited (the “Manager”), in accordance with its obligations under Directive 2009/65/EC, as amended (the “UCITS Directive”) is required to have remuneration policies and practices for those categories of staff, including senior management, risk takers, control functions, and any employees receiving total remuneration that takes them into the same remuneration bracket as senior management and risktakers, whose professional activities have a material impact on the risk profiles of the Manager or any Undertakings for Collective Investment in Transferable Securities (“UCITS”) under management, that are consistent with and promote sound and effective risk management and do not encourage risk taking which is inconsistent with the risk profiles, rules or instruments of incorporation of the Manager or PIMCO ETFs plc (the “Company”).
Remuneration consists of all forms of payments or benefits made directly by, or indirectly, but on behalf of the Manager, in exchange for professional services rendered by staff. This shall include where appropriate: (i) all forms of payments or benefits paid by the Manager; (ii) any amount paid by the Company, including any portion of performance fees; and/or (iii) any transfer of units or shares of any Company; in exchange for professional services rendered by the Identified Staff. Fixed remuneration means payments or benefits without consideration of any performance criteria. Variable remuneration means additional payments or benefits depending on performance or, in certain cases, other contractual criteria.
Disclosures are provided in relation to (a) the staff of the Manager; (b) staff who are senior management; and (c) staff who have the ability to materially affect the risk profile of the Funds, including individuals who, although not directly employed by the Manager, are assigned by their employer to carry out services directly for the Manager (“Delegates”).
The amount of the total remuneration awarded by the Manager to its staff which has been attributed to the Manager’s UCITS-related business in respect of the Manager’s financial year ending 31 March 2021 is €42,600. This figure is comprised of fixed remuneration of €42,600 and variable remuneration of €Nil. There were a total of 3 beneficiaries of the remuneration described above.
The amount of the aggregate remuneration awarded by the Manager, which has been attributed to the Manager’s UCITS-related business in respect of the Manager’s financial year ending 31 March 2021, to its senior management was $Nil, and to other members of its staff whose actions have a material impact on the risk profile of the Manager’s UCITS related business was $Nil.
The amount of total remuneration awarded by Delegates to their Identified Staff which has been attributed to the Funds in respect of the financial year ended 31 March 2021 is $41,945. This figure is comprised of fixed remuneration of $1,776 and variable remuneration of $40,169. There were a total of 9 beneficiaries of the remuneration described above.
Significant Changes in Portfolio Composition PIMCO Covered Bond UCITS ETF	
31 March 2021 (Unaudited)
DESCRIPTION
PAR (000S)
COST (000S)
DESCRIPTION
PAR (000S)
PROCEEDS (000S)
| PURCHASES THROUGH 31 MARCH 2021 |
| --- |
| Santander UK PLC |  |  |
| 0.050% due 12/01/2027 | €	10,400 | € 10,527 |
| Sumitomo Mitsui Trust Bank Ltd. |  |  |
| 0.010% due 15/10/2027 | 7,800 | 7,838 |
| Sveriges Sakerstallda Obligationer AB |  |  |
| 1.000% due 12/06/2030 | SEK	74,000 | 7,488 |
| Italy Buoni Poliennali Del Tesoro |  |  |
| 1.850% due 01/07/2025 | €	6,600 | 7,065 |
| PITCH FTA |  |  |
| 5.125% due 20/07/2022 | 6,400 | 6,985 |
| Italy Buoni Poliennali Del Tesoro |  |  |
| 2.100% due 15/07/2026 | 6,400 | 6,896 |
| Republic of Germany |  |  |
| 1.250% due 15/08/2048 | 5,000 | 6,834 |
| Banca Monte dei Paschi di Siena SpA |  |  |
| 0.875% due 08/10/2027 | 6,700 | 6,792 |
| AXA Bank Europe SCF |  |  |
| 0.250% due 09/06/2040 | 6,400 | 6,371 |
| Lloyds Bank PLC |  |  |
| 6.000% due 08/02/2029 | £	3,881 | 6,164 |
| Caixa Economica Montepio Geral Caixa |  |  |
| Economica Bancaria S.A. |  |  |
| 0.125% due 14/11/2024 | €	5,600 | 5,629 |
| SumitG Guaranteed Secured Obligation Issuer |  |  |
| DAC |  |  |
| 2.251% due 02/11/2020 | $	6,500 | 5,511 |
| Nykredit Realkredit A/S |  |  |
| 1.500% due 01/10/2050 | DKK	40,000 | 5,414 |
| AMCO - Asset Management Co. SpA |  |  |
| 2.625% due 13/02/2024 | 4,900 | 5,176 |
| Santander UK PLC |  |  |
| 0.884% due 12/02/2027 | £	4,600 | 5,078 |
| Santander UK PLC |  |  |
| 5.250% due 16/02/2029 | 3,300 | 4,903 |
| Berlin Hyp AG |  |  |
| 0.010% due 02/09/2030 | €	4,800 | 4,902 |
| Lansforsakringar Hypotek AB |  |  |
| 1.250% due 17/09/2025 | SEK	47,900 | 4,844 |
| Realkredit Danmark A/S |  |  |
| 1.000% due 01/10/2053 | DKK	35,700 | 4,799 |
| Nykredit Realkredit A/S |  |  |
| 1.000% due 01/10/2053 | 35,100 | 4,719 |
| Sumitomo Mitsui Banking Corp. |  |  |
| 0.409% due 07/11/2029 | €	4,600 | 4,715 |
| Nationwide Building Society |  |  |
| 1.375% due 29/06/2032 | 4,100 | 4,694 |
| NORD/LB Luxembourg S.A. Covered Bond Bank |  |  |
| 0.010% due 10/06/2027 | 4,500 | 4,547 |
| Nordea Kredit Realkreditaktieselskab |  |  |
| 1.000% due 01/10/2053 | DKK	32,300 | 4,349 |
| Nationale-Nederlanden Bank NV |  |  |
| 0.050% due 12/11/2040 | €	4,400 | 4,272 |
| Commonwealth Bank of Australia |  |  |
| 0.875% due 19/02/2029 | 3,950 | 4,269 |
| Italy Buoni Poliennali Del Tesoro |  |  |
| 0.950% due 15/09/2027 | 4,000 | 4,183 |
| Cajamar Caja Rural SCC |  |  |
| 0.875% due 18/06/2023 | 4,000 | 4,116 |
| Kommuninvest I Sverige AB |  |  |
| 1.000% due 02/10/2024 | SEK	38,300 | 3,892 |
| Cie de Financement Foncier S.A. |  |  |
| 3.875% due 25/04/2055 | €	1,825 | 3,860 |
| Nordea Kredit Realkreditaktieselskab |  |  |
| 1.500% due 01/10/2050 | DKK	28,000 | 3,781 |
| Kookmin Bank |  |  |
| 0.052% due 15/07/2025 | 3,700 | 3,728 |
| Cie de Financement Foncier S.A. |  |  |
| 1.200% due 29/04/2031 | €	3,300 | 3,716 |
| Nykredit Realkredit A/S |  |  |
| 1.000% due 01/10/2050 | DKK	27,100 | 3,611 |
| Jyske Realkredit A/S |  |  |
| 1.000% due 01/10/2053 | 26,800 | 3,609 |
| Cooperatieve Rabobank UA |  |  |
| 0.010% due 02/07/2030 | €	3,500 | 3,576 |

| SALES THROUGH 31 MARCH 2021 |
| --- |
| PITCH FTA |  |  |  |
| 5.125% due 20/07/2022 | € | 9,600 | € 10,579 |
| Santander UK PLC |  |  |  |
| 0.050% due 12/01/2027 |  | 8,800 | 8,901 |
| Republic of Germany |  |  |  |
| 1.250% due 15/08/2048 |  | 6,500 | 8,732 |
| Santander UK PLC |  |  |  |
| 0.884% due 12/02/2027 | £ | 6,800 | 7,571 |
| Sveriges Sakerstallda Obligationer AB |  |  |  |
| 1.000% due 12/06/2030 | SEK | 74,000 | 7,558 |
| Banca Carige SpA |  |  |  |
| 1.247% due 25/10/2021 | € | 7,300 | 7,344 |
| Italy Buoni Poliennali Del Tesoro |  |  |  |
| 1.850% due 01/07/2025 |  | 6,600 | 7,109 |
| Italy Buoni Poliennali Del Tesoro |  |  |  |
| 2.100% due 15/07/2026 |  | 6,400 | 6,981 |
| AXA Bank Europe SCF |  |  |  |
| 0.250% due 09/06/2040 |  | 6,400 | 6,474 |
| Banco BPM SpA |  |  |  |
| 0.750% due 31/03/2022 |  | 5,700 | 5,791 |
| Deutsche Bank AG |  |  |  |
| 0.050% due 20/11/2024 |  | 5,700 | 5,760 |
| Canadian Imperial Bank of Commerce |  |  |  |
| 0.916% due 28/10/2022 | £ | 5,000 | 5,571 |
| Commonwealth Bank of Australia |  |  |  |
| 1.071% due 16/01/2025 |  | 5,000 | 5,564 |
| NIBC Bank NV |  |  |  |
| 1.000% due 24/01/2060 | € | 5,100 | 5,551 |
| Nationale-Nederlanden Bank NV |  |  |  |
| 0.125% due 24/09/2029 |  | 5,400 | 5,538 |
| National Australia Bank Ltd. |  |  |  |
| 0.891% due 04/02/2025 | £ | 5,000 | 5,535 |
| Toronto-Dominion Bank |  |  |  |
| 0.546% due 24/06/2022 |  | 4,900 | 5,512 |
| Sumitomo Mitsui Trust Bank Ltd. |  |  |  |
| 0.010% due 15/10/2027 | € | 5,300 | 5,340 |
| Sumitomo Mitsui Banking Corp. |  |  |  |
| 0.409% due 07/11/2029 |  | 4,950 | 5,135 |
| Santander UK PLC |  |  |  |
| 5.250% due 16/02/2029 | £ | 3,300 | 5,031 |
| Berlin Hyp AG |  |  |  |
| 0.010% due 02/09/2030 | € | 4,800 | 4,918 |
| Lloyds Bank PLC |  |  |  |
| 6.000% due 08/02/2029 | £ | 3,100 | 4,904 |
| mBank Hipoteczny S.A. |  |  |  |
| 0.242% due 15/09/2025 | € | 4,800 | 4,883 |
| Lansforsakringar Hypotek AB |  |  |  |
| 1.250% due 17/09/2025 | SEK | 47,900 | 4,856 |
| Realkredit Danmark A/S |  |  |  |
| 1.000% due 01/10/2053 | DKK | 35,635 | 4,757 |
| Nykredit Realkredit A/S |  |  |  |
| 1.000% due 01/10/2053 |  | 35,008 | 4,676 |
| NORD/LB Luxembourg S.A. Covered Bond Bank |  |  |  |
| 0.010% due 10/06/2027 | € | 4,500 | 4,556 |
| Stadshypotek AB |  |  |  |
| 2.000% due 01/09/2028 | SEK | 43,000 | 4,555 |
| Nordea Kredit Realkreditaktieselskab |  |  |  |
| 1.000% due 01/10/2053 | DKK | 32,205 | 4,308 |
| Nationale-Nederlanden Bank NV |  |  |  |
| 0.050% due 12/11/2040 | € | 4,400 | 4,278 |
| Banca Monte dei Paschi di Siena SpA |  |  |  |
| 0.875% due 08/10/2027 |  | 4,000 | 4,220 |
| Caixa Economica Montepio Geral Caixa |  |  |  |
| Economica Bancaria S.A. |  |  |  |
| 0.125% due 14/11/2024 |  | 4,000 | 4,044 |
| Kommuninvest I Sverige AB |  |  |  |
| 1.000% due 02/10/2024 | SEK | 38,300 | 3,876 |
| Lloyds Bank PLC |  |  |  |
| 0.125% due 23/09/2029 | € | 3,800 | 3,868 |
| Nationwide Building Society |  |  |  |
| 1.093% due 10/01/2025 | £ | 3,300 | 3,706 |
| Cie de Financement Foncier S.A. |  |  |  |
| 1.200% due 29/04/2031 | € | 3,300 | 3,704 |
| Clydesdale Bank PLC |  |  |  |
| 0.010% due 22/09/2026 |  | 3,600 | 3,636 |

| DNB Boligkreditt A/S 0.010% due 21/01/2031 | 3,100 | 3,102 |
| --- | --- | --- |
| Vseobecna Uverova Banka A/S 0.250% due 26/03/2024 | 3,000 | 3,029 |

| DESCRIPTION | PAR (000S) | COST (000S) | DESCRIPTION | PAR (000S) | PROCEEDS (000S) |
| --- | --- | --- | --- | --- | --- |
| Italy Buoni Ordinari del Tesoro 0.000% due 14/05/2021 Nationale-Nederlanden Bank NV | €	3,500 | € 3,500 |  | Nykredit Realkredit A/S 1.000% due 01/10/2050 Cajamar Caja Rural SCC | DKK | 26,700 | € 3,605 |
| 0.010% due 08/07/2030 | 3,300 | 3,364 | 0.875% due 18/06/2023 | € | 3,500 | 3,602 |
| Banca Carige SpA 1.250% due 28/01/2021 Stadshypotek AB | 3,300 | 3,309 | Nordea Kredit Realkreditaktieselskab 1.500% due 01/10/2050 Cooperatieve Rabobank UA | DKK | 26,130 | 3,594 |
| 0.010% due 24/11/2028 | 3,200 | 3,244 | 0.010% due 02/07/2030 | € | 3,500 | 3,578 |
| Vseobecna Uverova Banka A/S 0.010% due 24/03/2026 U.S. Treasury Notes | 3,200 | 3,244 | Jyske Realkredit A/S 1.000% due 01/10/2053 Italy Buoni Ordinari del Tesoro | DKK | 26,754 | 3,561 |
| 1.125% due 15/02/2031 | $ | 3,900 | 3,182 | 0.000% due 14/05/2021 | €	3,500 | 3,505 |
| Jyske Realkredit A/S 1.500% due 01/10/2050 Nationwide Building Society | DKK | 23,600 | 3,169 | Nationale-Nederlanden Bank NV 0.010% due 08/07/2030 Banca Carige SpA | 3,300 | 3,364 |
| 1.125% due 31/05/2028 | €	2,900 | 3,164 | 1.250% due 28/01/2021 | 3,300 | 3,309 |

DESCRIPTION
PURCHASES THROUGH 31 MARCH 2021
Brazil Letras do Tesouro Nacional
PAR (000S)
COST (000S)
DESCRIPTION
SALES THROUGH 31 MARCH 2021
Russia Government International Bond
PAR (000S)
PROCEEDS (000S)
0.000% due 01/10/2021	BRL	157,700	$ 28,902
Brazil Letras do Tesouro Nacional
0.000% due 01/01/2024	180,300	27,206
Malaysia Government International Bond
3.620% due 30/11/2021	MYR	101,900	25,392
Russia Government International Bond
7.400% due 17/07/2024	RUB	1,750,200	25,023
Russia Government International Bond
7.500% due 18/08/2021	1,265,600	17,744
Mexico Government International Bond
7.250% due 09/12/2021	MXN	333,000	16,222
Mexico Government International Bond
8.000% due 05/09/2024	276,500	14,841
Malaysia Government Investment Issue
4.170% due 30/04/2021	MYR	54,500	12,862
Brazil Letras do Tesouro Nacional
0.000% due 01/07/2023	BRL	70,600	11,188
China Government Bond
2.880% due 05/11/2023	CNY	68,100	10,541
Russia Government International Bond
6.500% due 28/02/2024	RUB	735,400	10,311
Poland Government International Bond
0.000% due 25/05/2021	PLN	38,700	10,287
Russia Government International Bond
5.300% due 04/10/2023	RUB	729,400	9,894
South Africa Government International Bond
8.875% due 28/02/2035	ZAR	190,500	9,487
Brazil Letras do Tesouro Nacional
0.000% due 01/07/2022	BRL	51,800	8,909
Mexico Government International Bond
8.500% due 18/11/2038	MXN	162,000	8,639
Mexico Government International Bond
6.750% due 09/03/2023	178,000	8,433
Thailand Government International Bond
3.650% due 17/12/2021	THB	225,900	7,441
Russia Government International Bond
4.500% due 16/07/2025	RUB	535,600	7,404
Thailand Government International Bond
1.450% due 17/12/2024	THB	220,900	7,218
Brazil Notas do Tesouro Nacional
10.000% due 01/01/2023	BRL	33,700	6,873
Russia Government International Bond
7.750% due 16/09/2026	RUB	459,100	6,564
Colombia Government International Bond
7.750% due 14/04/2021	COP	24,637,000	6,277
South Africa Government International Bond
10.500% due 21/12/2027	ZAR	91,800	5,941
Brazil Government International Bond
12.500% due 05/01/2022	BRL	24,850	5,204
Chile Government International Bond
5.500% due 05/08/2020	CLP	3,868,000	4,676
Mexico Government International Bond
8.500% due 31/05/2029	MXN	80,000	4,434
Colombian TES
7.500% due 26/08/2026	COP	13,653,700	4,238
Brazil Government International Bond
10.250% due 10/01/2028	BRL	20,400	4,195
Israel Government International Bond
0.500% due 31/01/2021	ILS	14,500	4,150
7.500% due 18/08/2021	RUB	2,145,400	$ 29,360
Brazil Letras do Tesouro Nacional
0.000% due 01/10/2021	BRL	157,700	28,380
Mexico Government International Bond
6.500% due 10/06/2021	MXN	438,790	19,934
Malaysia Government International Bond
3.620% due 30/11/2021	MYR	73,500	18,077
Colombia Government International Bond
7.750% due 14/04/2021	COP	62,500,000	17,511
Mexico Government International Bond
7.250% due 09/12/2021	MXN	333,000	16,840
Russia Government International Bond
7.400% due 17/07/2024	RUB	1,130,600	15,974
Poland Government International Bond
0.000% due 25/05/2021	PLN	59,060	15,661
Brazil Letras do Tesouro Nacional
0.000% due 01/01/2024	BRL	92,200	14,286
Brazil Notas do Tesouro Nacional
10.000% due 01/01/2023	68,200	13,926
Malaysia Government Investment Issue
4.170% due 30/04/2021	MYR	54,500	12,776
Brazil Letras do Tesouro Nacional
0.000% due 01/07/2022	BRL	71,800	12,267
Russia Government International Bond
6.500% due 28/02/2024	RUB	873,682	11,551
Russia Government International Bond
5.300% due 04/10/2023	729,400	9,744
Mexico Government International Bond
8.000% due 07/11/2047	MXN	187,500	9,483
Mexico Government International Bond
6.750% due 09/03/2023	178,000	9,158
Mexico Government International Bond
8.000% due 07/12/2023	172,700	8,658
Brazil Government International Bond
10.250% due 10/01/2028	BRL	36,185	7,858
Thailand Government International Bond
3.650% due 17/12/2021	THB	226,117	7,533
Thailand Government International Bond
1.450% due 17/12/2024	221,400	7,317
Brazil Notas do Tesouro Nacional
10.000% due 01/01/2025	BRL	31,700	7,196
Brazil Government International Bond
8.500% due 05/01/2024	33,105	6,865
Poland Government International Bond
4.000% due 25/10/2023	PLN	21,300	6,445
South Africa Government International Bond
10.500% due 21/12/2027	ZAR	91,800	6,237
South Africa Government International Bond
8.875% due 28/02/2035	99,898	5,543
Mexico Government International Bond
7.750% due 29/05/2031	MXN	87,500	4,475
Israel Government International Bond
0.500% due 31/01/2021	ILS	14,500	4,431
Colombian TES
7.500% due 26/08/2026	COP	13,264,100	4,360
Significant portfolio changes are defined as the value of purchases exceeding 1% of total cost of purchases, and sales exceeding 1% of total proceeds. At a minimum the twenty largest purchases and twenty largest sales must be shown. Should there have been less than that amount of transactions, all such transactions have been disclosed.
Repurchase Agreements, which may be utilised for uninvested Fund cash and which usually mature the next business day, and securities held to maturity, which matured during the reporting period, have been excluded from the Significant Changes in Portfolio Composition.
DESCRIPTION
PURCHASES THROUGH 31 MARCH 2021
France Government International Bond
PAR (000S)
COST (000S)
| PAR | PROCEEDS |
| --- | --- |
| DESCRIPTION	(000S) | (000S) |
| SALES THROUGH 31 MARCH 2021 |  |
| Republic of Germany 1.500% due 15/05/2023	€	4,500 | € 4,757 |
| France Government International Bond 0.250% due 25/07/2024	4,343 U.S. Treasury Notes 1.875% due 31/08/2022	$	5,200 | 4,614 4,476 |
| Republic of Germany 1.500% due 04/09/2022	€	3,800 | 3,968 |
| Barclays PLC 1.875% due 08/12/2023	3,100 | 3,265 |
| Abertis Infraestructuras S.A. 3.750% due 20/06/2023	2,800 | 3,061 |
| Airbus SE 1.375% due 09/06/2026	2,900 | 3,046 |
| Societe Generale S.A. 0.000% due 27/05/2022	3,000 | 3,016 |
| Clearstream Banking AG 0.000% due 01/12/2025	2,800 Ford Motor Credit Co. LLC 0.000% due 07/12/2022	2,900 | 2,821 2,640 |
| BNP Paribas S.A. 1.250% due 19/03/2025	2,500 Volkswagen International Finance NV 3.500% due 17/06/2025	2,300 | 2,618 2,436 |
| AT&T, Inc. 1.600% due 19/05/2028	2,100 | 2,293 |
| ACS Actividades de Construccion y Servicios S.A. 1.375% due 17/06/2025	2,200 | 2,197 |
| HSBC Holdings PLC 0.000% due 05/10/2023	2,100 | 2,111 |
| Continental AG 2.500% due 27/08/2026	2,000 | 2,110 |
| Bank of America Corp. 0.503% due 07/02/2022	2,100 | 2,105 |
| Wells Fargo & Co. 1.338% due 04/05/2025	2,000 | 2,078 |
| Bevco Lux SARL 1.750% due 09/02/2023	1,900 Ubisoft Entertainment S.A. 1.289% due 30/01/2023	1,900 | 1,969 1,941 |
| ABN AMRO Bank NV 6.375% due 27/04/2021	1,800 | 1,857 |
| Kreditanstalt fuer Wiederaufbau 0.000% due 15/09/2023	1,600 | 1,630 |
| INEOS Styrolution Group GmbH 2.250% due 16/01/2027	1,700 | 1,591 |
| MTU Aero Engines AG 3.000% due 01/07/2025	1,500 | 1,557 |
| IHO Verwaltungs GmbH 3.625% due 15/05/2025	1,500 | 1,535 |
| UBS Group AG 0.160% due 20/09/2022	1,500 | 1,507 |
| EssilorLuxottica S.A. 0.000% due 27/05/2023	1,500 | 1,499 |
| Volkswagen Bank GmbH 1.875% due 31/01/2024	1,400 | 1,477 |
| SHARES |  |
| PIMCO ETFs plc - PIMCO Euro Short Maturity UCITS ETF (a)	 15,000 | 1,470 |
| PAR (000S) |  |
| Credit Agricole S.A. 0.875% due 14/01/2032	€	1,400 | 1,442 |
| Lunar Funding for Swisscom AG 1.875% due 08/09/2021	1,400 | 1,427 |
| Proximus SADP 0.500% due 22/03/2022	1,400 | 1,411 |
| Volkswagen Bank GmbH 1.250% due 01/08/2022	1,400 | 1,409 |
| RCI Banque S.A. 0.625% due 10/11/2021	1,400 | 1,406 |
| Goldman Sachs Group, Inc. 0.093% due 09/09/2022	1,400 | 1,405 |
| (a) The PIMCO Euro Low Duration Corporate Bond UCITS ETF is investing in shares of an affiliated fund. Significant portfolio changes are defined as the value of purchases exceeding 1% of total cost of purchases, and sales exceeding 1% of total proceeds. At a minimum the twenty largest purchases and twenty largest sales must be shown. Should there have been less than that amount of transactions, all such transactions have been disclosed. Repurchase Agreements, which may be utilised for uninvested Fund cash and which usually mature the next business day, and securities held to maturity, which matured during the reporting period, have been excluded from the Significant Changes in Portfolio Composition. |

0.250% due 25/07/2024	€	7,471	€ 7,869
SHARES
PIMCO ETFs plc - PIMCO Euro Short Maturity
UCITS ETF (a)	
63,500	6,214
PAR (000S)
Barclays PLC
3.375% due 02/04/2025	€	3,300	3,624
Abertis Infraestructuras S.A.
3.375% due 27/11/2026	£	2,600	3,118
Abertis Infraestructuras S.A.
3.750% due 20/06/2023	€	2,800	3,051
Booking Holdings, Inc.
0.100% due 08/03/2025	3,000	2,999
Takeda Pharmaceutical Co. Ltd.
0.750% due 09/07/2027	2,900	2,899
AT&T, Inc.
1.600% due 19/05/2028	2,900	2,898
Airbus SE
1.375% due 09/06/2026	2,900	2,896
Cromwell Ereit Lux Finco SARL
2.125% due 19/11/2025	2,900	2,895
Clearstream Banking AG
0.000% due 01/12/2025	2,800	2,817
Vantage Towers AG
0.000% due 31/03/2025	2,500	2,492
Volkswagen International Finance NV
3.500% due 17/06/2025	2,300	2,300
Redexis Gas Finance BV
1.875% due 28/05/2025	2,300	2,289
Ubisoft Entertainment S.A.
0.878% due 24/11/2027	2,200	2,200
ACS Actividades de Construccion y Servicios S.A.
1.375% due 17/06/2025	2,200	2,199
Nissan Motor Co. Ltd.
3.522% due 17/09/2025	$	2,500	2,106
Wells Fargo & Co.
1.338% due 04/05/2025	€	2,000	2,049
Continental AG
2.500% due 27/08/2026	2,000	1,976
Credit Agricole Assurances S.A.
4.500% due 14/10/2025	1,500	1,725
Daimler AG
2.000% due 22/08/2026	1,600	1,588
Telecom Italia SpA
5.875% due 19/05/2023	£	1,300	1,583
Mizuho Financial Group, Inc.
0.118% due 06/09/2024	€	1,600	1,577
UBS Group AG
BNP Paribas S.A.
1.250% due 17/04/2025	1,500	1,548
1.125% due 28/08/2024	1,500	1,539
Bank of Ireland Group PLC
1.375% due 29/08/2023	1,500	1,513
Medtronic Global Holdings S.C.A.
0.000% due 15/03/2023	1,500	1,501
Intesa Sanpaolo SpA
1.000% due 04/07/2024	1,500	1,500
Virgin Money UK PLC
2.875% due 24/06/2025	1,500	1,499
Fraport AG Frankfurt Airport Services Worldwide
1.625% due 09/07/2024	1,500	1,494
MTU Aero Engines AG
3.000% due 01/07/2025	1,500	1,491
Traton Finance Luxembourg S.A.
0.125% due 24/03/2025	1,400	1,394
BPCE S.A.
0.500% due 15/09/2027	1,400	1,389
ASR Nederland NV
5.000% due 30/09/2024	1,200	1,367
DESCRIPTION
PAR (000S)
COST (000S)
DESCRIPTION
PAR (000S)
PROCEEDS (000S)
| PURCHASES THROUGH 31 MARCH 2021 |
| --- |
| UniCredit SpA |  |  |  |  |
| 6.950% due 31/10/2022 | € | 730 | € | 792 |
| Ford Motor Credit Co. LLC |  |  |  |  |
| 3.021% due 06/03/2024 |  | 796 |  | 712 |
| Assicurazioni Generali SpA |  |  |  |  |
| 4.596% due 21/11/2025 |  | 600 |  | 669 |
| UniCredit SpA |  |  |  |  |
| 4.875% due 20/02/2029 |  | 637 |  | 643 |
| UniCredit SpA |  |  |  |  |
| 5.750% due 28/10/2025 |  | 637 |  | 640 |
| FCE Bank PLC |  |  |  |  |
| 1.615% due 11/05/2023 |  | 700 |  | 629 |
| Electricite de France S.A. |  |  |  |  |
| 4.000% due 04/07/2024 |  | 600 |  | 629 |
| ArcelorMittal S.A. |  |  |  |  |
| 3.125% due 14/01/2022 |  | 600 |  | 613 |
| Abertis Infraestructuras Finance BV |  |  |  |  |
| 3.248% due 24/11/2025 |  | 600 |  | 613 |
| IHO Verwaltungs GmbH (3.625% Cash or 4.375% PIK) |  |  |  |  |
| 3.625% due 15/05/2025 |  | 600 |  | 608 |
| Nidda Healthcare Holding GmbH |  |  |  |  |
| 3.500% due 30/09/2024 |  | 600 |  | 594 |
| ArcelorMittal S.A. |  |  |  |  |
| 1.000% due 19/05/2023 |  | 600 |  | 580 |
| Renault S.A. |  |  |  |  |
| 1.250% due 24/06/2025 |  | 600 |  | 564 |
| Electricite de France S.A. |  |  |  |  |
| 5.375% due 29/01/2025 |  | 500 |  | 552 |
| ArcelorMittal S.A. |  |  |  |  |
| 2.250% due 17/01/2024 |  | 500 |  | 521 |
| Grifols S.A. |  |  |  |  |
| 1.625% due 15/02/2025 |  | 500 |  | 491 |
| SoftBank Group Corp. |  |  |  |  |
| 3.125% due 19/09/2025 |  | 480 |  | 479 |
| Electricite de France S.A. |  |  |  |  |
| 5.000% due 22/01/2026 |  | 400 |  | 454 |
| Carnival Corp. |  |  |  |  |
| 10.125% due 01/02/2026 |  | 380 |  | 444 |
| Telecom Italia SpA |  |  |  |  |
| 4.000% due 11/04/2024 |  | 400 |  | 435 |
| Rolls-Royce PLC |  |  |  |  |
| 4.625% due 16/02/2026 |  | 400 |  | 432 |

| 3.500% due 30/09/2024 | €	1,020 | € 1,013 |
| --- | --- | --- |
| Fiat Chrysler Finance Europe SENC 4.750% due 15/07/2022 | 844 | 902 |
| Fiat Chrysler Automobiles NV 3.750% due 29/03/2024 | 750 | 832 |
| SoftBank Group Corp. 4.000% due 20/04/2023 | 740 | 771 |
| Fiat Chrysler Finance Europe SENC 4.750% due 22/03/2021 | 550 | 556 |
| Repsol International Finance BV 3.875% due 25/03/2021 | 540 | 546 |
| Centrica PLC 3.000% due 10/04/2076 | 545 | 542 |
| Bankia S.A. 3.750% due 15/02/2029 | 500 | 501 |
| Orano S.A. 3.500% due 22/03/2021 | 500 | 501 |
| Vodafone Group PLC 3.100% due 03/01/2079 | 500 | 499 |
| Verisure Midholding AB 5.750% due 01/12/2023 | 475 | 465 |
| Vallourec S.A. 6.625% due 15/10/2022 | 520 | 441 |
| DKT Finance ApS 7.000% due 17/06/2023 | 430 | 433 |
| Valeo S.A. 0.375% due 12/09/2022 | 400 | 401 |
| Hertz Holdings Netherlands BV 5.500% due 30/03/2023 | 450 | 371 |
| Lincoln Financing SARL 3.625% due 01/04/2024 | 350 | 354 |
| Renault S.A. 3.125% due 05/03/2021 | 350 | 351 |
| Intesa Sanpaolo SpA 6.625% due 13/09/2023 | 300 | 335 |
| Smurfit Kappa Acquisitions ULC 2.375% due 01/02/2024 | 300 | 318 |
| Deutsche Lufthansa AG 5.125% due 12/08/2075 | 360 | 317 |

DESCRIPTION
PAR (000S)
COST (000S)
DESCRIPTION
SALES THROUGH 31 MARCH 2021
Italy Buoni Poliennali Del Tesoro
0.950% due 01/03/2023
Banco Bilbao Vizcaya Argentaria S.A.
0.050% due 12/04/2022
| € | 62,000 | € 63,655 |
| --- | --- | --- |
|  | 25,200 | 25,336 |

Barclays PLC
PAR (000S)
PROCEEDS (000S)
| PURCHASES THROUGH 31 MARCH 2021 |
| --- |
| Italy Buoni Poliennali Del Tesoro |  |  |  |
| 0.950% due 01/03/2023 | €	62,000 | € | 63,513 |
| Bevco Lux SARL |  |  |  |
| 1.750% due 09/02/2023 | 27,003 |  | 27,991 |
| Bank of America Corp. |  |  |  |
| 0.240% due 04/05/2023 | 25,550 |  | 25,695 |
| Freddie Mac |  |  |  |
| 0.600% due 15/10/2025 | $	30,000 |  | 25,440 |
| Trinity Square PLC |  |  |  |
| 0.000% due 15/07/2059 | £	21,600 |  | 25,229 |
| Fannie Mae |  |  |  |
| 0.875% due 18/12/2026 | $	30,000 |  | 24,831 |
| HSBC Holdings PLC |  |  |  |
| 0.162% due 27/09/2022 | €	24,000 |  | 24,050 |
| Daimler Canada Finance, Inc. |  |  |  |
| 0.160% due 11/09/2022 | 23,500 |  | 23,637 |
| Credit Suisse Group Funding Guernsey Ltd. |  |  |  |
| 1.250% due 14/04/2022 | 23,033 |  | 23,514 |
| Israel Government International Bond |  |  |  |
| 0.000% due 22/07/2022 | 22,700 |  | 22,700 |
| SC Germany S.A., Compartment Consumer |  |  |  |
| 0.142% due 14/11/2034 | 21,800 |  | 22,041 |
| Cardiff Auto Receivables Securitisation PLC |  |  |  |
| 0.679% due 16/09/2025 | £	18,340 |  | 20,352 |
| Fukuoka Prefecture |  |  |  |
| 0.880% due 22/06/2022 | ¥	2,520,000 |  | 20,190 |
| Medtronic Global Holdings S.C.A. |  |  |  |
| 0.000% due 15/03/2023 | €	20,100 |  | 20,131 |
| BMW Finance NV |  |  |  |
| 0.062% due 24/06/2022 | 19,500 |  | 19,557 |
| NatWest Group PLC |  |  |  |
| 2.000% due 08/03/2023 | 17,000 |  | 17,409 |
| Goldman Sachs Group, Inc. |  |  |  |
| 0.085% due 26/09/2023 | 15,900 |  | 15,962 |
| American International Group, Inc. |  |  |  |
| 1.500% due 08/06/2023 | 15,300 |  | 15,833 |
| General Motors Financial Co., Inc. |  |  |  |
| 0.144% due 10/05/2021 | 15,700 |  | 15,711 |
| Intesa Sanpaolo Bank Luxembourg S.A. |  |  |  |
| 0.215% due 26/09/2021 | 15,400 |  | 15,369 |
| Aroundtown S.A. |  |  |  |
| 0.375% due 23/09/2022 | 15,000 |  | 15,121 |
| LeasePlan Corp. NV |  |  |  |
| 1.000% due 25/02/2022 | 14,700 |  | 14,922 |
| Stratton Mortgage Funding PLC |  |  |  |
| 0.000% due 20/07/2060 | £	12,950 |  | 14,794 |
| Cars Alliance Auto Leases France |  |  |  |
| 0.148% due 21/10/2036 | €	14,400 |  | 14,598 |
| Fidelity National Information Services, Inc. |  |  |  |
| 0.125% due 03/12/2022 | 14,500 |  | 14,573 |
| Barclays Bank PLC |  |  |  |
| 10.000% due 21/05/2021 | £	12,350 |  | 14,521 |
| Barclays Bank PLC |  |  |  |
| 6.000% due 14/01/2021 | €	13,900 |  | 14,235 |
| Realkredit Danmark A/S |  |  |  |
| 1.000% due 01/04/2022 | DKK	98,200 |  | 13,461 |
| LeasePlan Corp. NV |  |  |  |
| 0.750% due 03/10/2022 | €	13,100 |  | 13,308 |
| Freddie Mac |  |  |  |
| 0.800% due 28/10/2026 | $	15,500 |  | 13,100 |
| Legal & General Group PLC |  |  |  |
| 10.000% due 23/07/2041 | £	10,700 |  | 12,910 |
| Israel Government International Bond |  |  |  |
| 5.500% due 31/01/2022 | ILS	47,700 |  | 12,754 |
| Freddie Mac |  |  |  |
| 0.650% due 27/10/2025 | $	14,400 |  | 12,287 |
| Stratton Mortgage Funding PLC |  |  |  |
| 0.000% due 25/09/2051 | £	10,700 |  | 12,090 |
| Avon Finance No. 2 PLC |  |  |  |
| 0.949% due 20/09/2048 | 11,100 |  | 12,010 |

1.875% due 23/03/2021	24,700	24,853
Banque Federative du Credit Mutuel S.A.
0.375% due 13/01/2022	22,700	22,775
SC Germany S.A., Compartment Consumer
0.142% due 14/11/2034	21,800	22,086
Intesa Sanpaolo SpA
2.000% due 18/06/2021	19,100	19,411
JPMorgan Chase & Co.
1.375% due 16/09/2021	18,449	18,705
Imperial Brands Finance PLC
0.500% due 27/07/2021	16,144	16,198
American Honda Finance Corp.
0.644% due 15/02/2022	$	17,900	16,058
Citigroup, Inc.
1.375% due 27/10/2021	€	15,600	15,801
Wells Fargo & Co.
0.000% due 31/01/2022	15,000	15,065
Wizink Master Credit Cards FT
0.000% due 26/12/2031	15,000	15,000
Cars Alliance Auto Leases France
0.148% due 21/10/2036	14,400	14,609
RCI Banque S.A.
0.128% due 14/03/2022	14,600	14,444
Realkredit Danmark A/S
1.000% due 01/04/2022	DKK	98,200	13,396
Standard Chartered PLC
1.625% due 13/06/2021	€	10,400	10,445
Credit Suisse Group Funding Guernsey Ltd.
1.250% due 14/04/2022	10,000	10,030
ING Bank NV
0.000% due 08/04/2022	9,900	9,966
Citigroup, Inc.
0.287% due 24/05/2021	9,700	9,740
FCT Titrisocram
0.000% due 25/07/2036	9,163	9,175
Mondelez International, Inc.
1.000% due 07/03/2022	9,000	9,119
Pfizer, Inc.
0.250% due 06/03/2022	8,900	8,953
RCI Banque S.A.
0.250% due 12/07/2021	8,800	8,739
Bank of America Corp.
1.375% due 10/09/2021	8,340	8,430
Nationwide Building Society
4.375% due 28/02/2022	7,900	8,401
British Telecommunications PLC
0.625% due 10/03/2021	8,200	8,225
Nykredit Realkredit A/S
1.000% due 01/07/2022	DKK	57,400	7,858
Morgan Stanley
0.000% due 09/11/2021	€	7,600	7,488
Ford Motor Credit Co. LLC
1.104% due 12/10/2021	$	8,900	7,433
HSBC Continental Europe S.A.
0.200% due 04/09/2021	€	7,100	7,135
Goldman Sachs Group, Inc.
0.457% due 27/07/2021	7,000	7,039
NatWest Markets PLC
0.625% due 02/03/2022	7,000	6,860
Morgan Stanley
0.000% due 21/05/2021	6,600	6,619
Credit Agricole S.A.
0.875% due 19/01/2022	6,400	6,475
Significant portfolio changes are defined as the value of purchases exceeding 1% of total cost of purchases, and sales exceeding 1% of total proceeds. At a minimum the twenty largest purchases and twenty largest sales must be shown. Should there have been less than that amount of transactions, all such transactions have been disclosed.
Repurchase Agreements, which may be utilised for uninvested Fund cash and which usually mature the next business day, and securities held to maturity, which matured during the reporting period, have been excluded from the Significant Changes in Portfolio Composition.
DESCRIPTION
PURCHASES THROUGH 31 MARCH 2021
United Kingdom Gilt
PAR (000S)
COST (000S)
| PAR | PROCEEDS |
| --- | --- |
| DESCRIPTION	(000S) | (000S) |
| SALES THROUGH 31 MARCH 2021 |  |
| United Kingdom Gilt 3.750% due 07/09/2021	£	13,700 | £ 14,006 |
| Italy Buoni Poliennali Del Tesoro 0.950% due 01/03/2023	€	4,700 | 4,267 |
| Jubilee CLO BV 0.295% due 07/12/2028	4,000 | 3,405 |
| Royal Bank of Canada 0.346% due 08/06/2021	£	3,100 | 3,100 |
| Santander UK PLC 0.254% due 13/04/2021	2,900 | 2,900 |
| Towd Point Mortgage Funding PLC 1.058% due 20/10/2051	2,909 | 2,897 |
| TSB Bank PLC 0.420% due 07/12/2022	2,900 | 2,878 |
| Leeds Building Society 4.875% due 16/11/2020	2,800 | 2,859 |
| Santander UK PLC 1.625% due 10/05/2021	2,400 | 2,417 |
| Residential Mortgage Securities PLC 0.884% due 20/03/2050	2,253 | 2,241 |
| Medtronic Global Holdings S.C.A. 0.000% due 15/03/2023	€	2,300 | 2,056 |
| Australia & New Zealand Banking Group Ltd. 0.729% due 24/01/2022	£	2,000 | 2,007 |
| Lanark Master Issuer PLC 0.880% due 22/12/2069	1,957 | 1,958 |
| NatWest Markets PLC 0.072% due 01/03/2021	€	2,100 | 1,890 |
| BP Capital Markets PLC 1.177% due 12/08/2023	£	1,800 | 1,837 |
| Takeda Pharmaceutical Co. Ltd. 0.557% due 21/11/2022	€	2,100 | 1,834 |
| SC Germany S.A., Compartment Consumer 0.142% due 14/11/2034	2,000 | 1,812 |
| Societe Generale S.A. 0.000% due 27/05/2022	2,000 | 1,719 |
| Citigroup, Inc. 1.375% due 27/10/2021	1,800 | 1,663 |
| Morgan Stanley 0.157% due 08/11/2022	1,900 | 1,650 |
| Auto ABS UK Loans 1.371% due 27/11/2027	£	1,600 | 1,582 |
| LVMH Moet Hennessy Louis Vuitton SE 1.000% due 14/06/2022	1,560 | 1,571 |
| Banque Federative du Credit Mutuel S.A. 1.875% due 31/12/2022	1,500 | 1,548 |
| Bank of America Corp. 6.125% due 15/09/2021	1,500 Deutsche Telekom International Finance BV 6.500% due 08/04/2022	1,400 | 1,542 1,499 |
| Freddie Mac 0.700% due 19/08/2025	$	2,000 | 1,499 |
| HSBC Holdings PLC 0.162% due 27/09/2022	€	1,600 Nationale-Nederlanden Bank NV 0.036% due 11/12/2020	1,600 | 1,458 1,450 |
| National Australia Bank Ltd. 1.125% due 10/11/2021	£	1,400 | 1,411 |
| UBS Group AG 0.160% due 20/09/2022	€	1,500 Silver Arrow S.A. 0.145% due 20/11/2030	1,500 | 1,366 1,355 |
| Deutsche Hypothekenbank AG 0.297% due 22/03/2021	£	1,300 | 1,301 |
| Canadian Imperial Bank of Commerce 0.529% due 28/10/2022	1,300 | 1,295 |
| Schaeffler Finance BV 3.250% due 15/05/2025	€	1,400 | 1,292 |
| American Honda Finance Corp. 0.644% due 15/02/2022	$	1,600 | 1,290 |
| Chevy Chase Funding LLC Mortgage-Backed Certificates 0.000% due 16/01/2057	£	1,282 | 1,270 |
| Significant portfolio changes are defined as the value of purchases exceeding 1% of total cost of purchases, and sales exceeding 1% of total proceeds. At a minimum the twenty largest purchases and twenty largest sales must be shown. Should there have been less than that amount of transactions, all such transactions have been disclosed. Repurchase Agreements, which may be utilised for uninvested Fund cash and which usually mature the next business day, and securities held to maturity, which matured during the reporting period, have been excluded from the Significant Changes in Portfolio Composition. |

3.750% due 07/09/2021	£	13,700	£ 14,146
Italy Buoni Poliennali Del Tesoro
0.950% due 01/03/2023	€	4,700	4,287
HSBC Holdings PLC
2.175% due 27/06/2023	£	3,700	3,781
Deutsche Pfandbriefbank AG
1.500% due 16/12/2021	2,900	2,937
Wells Fargo & Co.
1.375% due 30/06/2022	2,500	2,531
Bayerische Landesbank
1.250% due 20/12/2021	2,500	2,527
HSBC Holdings PLC
0.162% due 27/09/2022	€	2,600	2,370
Medtronic Global Holdings S.C.A.
0.000% due 15/03/2023	2,300	2,104
Imperial Brands Finance PLC
9.000% due 17/02/2022	£	1,800	1,979
Toronto-Dominion Bank
1.000% due 13/12/2021	1,900	1,910
BAE Systems PLC
4.125% due 08/06/2022	1,800	1,884
Credit Suisse Group Funding Guernsey Ltd.
1.250% due 14/04/2022	€	2,000	1,857
SSE PLC
5.875% due 22/09/2022	£	1,700	1,849
BP Capital Markets PLC
1.177% due 12/08/2023	1,800	1,841
SC Germany S.A., Compartment Consumer
Trinity Square PLC
0.142% due 14/11/2034	€	2,000	1,833
0.000% due 15/07/2059	£	1,700	1,700
European Investment Bank
0.329% due 10/01/2022	1,600	1,604
LVMH Moet Hennessy Louis Vuitton SE
1.000% due 14/06/2022	1,560	1,574
Western Power Distribution East Midlands PLC
5.250% due 17/01/2023	1,400	1,559
BPCE S.A.
2.125% due 16/12/2022	1,500	1,556
Banque Federative du Credit Mutuel S.A.
1.875% due 13/12/2022	1,500	1,554
LeasePlan Corp. NV
0.750% due 03/10/2022	€	1,700	1,549
Severn Trent Utilities Finance PLC
1.625% due 04/12/2022	£	1,500	1,540
Deutsche Telekom International Finance BV
6.500% due 08/04/2022	1,400	1,539
Freddie Mac
0.700% due 19/08/2025	$	2,000	1,528
BMW Finance NV
0.875% due 16/08/2022	£	1,500	1,512
BMW Finance NV
0.125% due 13/07/2022	€	1,600	1,467
Daimler Canada Finance, Inc.
0.160% due 11/09/2022	1,600	1,464
Israel Government International Bond
0.000% due 22/07/2022	1,600	1,457
Fidelity National Information Services, Inc.
1.700% due 30/06/2022	£	1,400	1,427
LeasePlan Corp. NV
1.000% due 25/02/2022	€	1,500	1,370
Silver Arrow S.A.
0.145% due 20/11/2030	1,500	1,364
Cardiff Auto Receivables Securitisation PLC
0.679% due 16/09/2025	£	1,330	1,332
| PAR DESCRIPTION	(000S) | COST (000S) |  | DESCRIPTION | PAR (000S) | PROCEEDS (000S) |
| --- | --- | --- | --- | --- | --- |
| PURCHASES THROUGH 31 MARCH 2021 |  | SALES THROUGH 31 MARCH 2021 |  |  |
| Federal Home Loan Bank |  |  |  | Freddie Mac |  |  |
| 0.960% due 05/03/2026 | $	60,500 | $ 60,500 |  | 0.700% due 19/08/2025 | $	39,600 | $ 39,603 |
| Freddie Mac |  |  |  | Freddie Mac |  |  |
| 0.800% due 30/07/2025 | 54,830 | 54,830 |  | 1.875% due 05/03/2025 | 39,000 | 39,011 |
| Freddie Mac |  |  |  | Freddie Mac |  |  |
| 0.900% due 28/05/2025 | 50,070 | 50,060 |  | 2.000% due 11/02/2025 | 28,000 | 28,034 |
| Freddie Mac |  |  |  | Freddie Mac |  |  |
| 0.700% due 02/09/2025 | 44,000 | 44,000 |  | 1.200% due 17/04/2025 | 25,000 | 25,003 |
| Freddie Mac |  |  |  | Freddie Mac |  |  |
| 0.690% due 05/08/2025 | 42,900 | 42,900 |  | 0.900% due 06/05/2025 | 23,200 | 23,204 |
| Federal Home Loan Bank |  |  |  | Banco Santander Chile |  |  |
| 0.750% due 24/02/2026 | 42,000 | 42,000 |  | 1.791% due 25/07/2020 | 22,800 | 22,857 |
| Freddie Mac |  |  |  | Freddie Mac |  |  |
| 0.800% due 28/10/2026 | 42,000 | 41,994 |  | 1.970% due 06/02/2025 | 22,000 | 22,001 |
| Federal Home Loan Bank |  |  |  | Freddie Mac |  |  |
| 0.830% due 10/02/2027 | 41,500 | 41,500 |  | 0.700% due 18/08/2025 | 22,000 | 22,001 |
| Federal Home Loan Bank |  |  |  | Bank of Nova Scotia |  |  |
| 0.650% due 26/02/2026 | 40,300 | 40,296 |  | 0.560% due 15/09/2023 | 19,500 | 19,648 |
| Freddie Mac |  |  |  | Canadian Imperial Bank of Commerce |  |  |
| 0.770% due 15/07/2025 | 40,000 | 40,000 |  | 0.810% due 17/03/2023 | 16,700 | 16,807 |
| Freddie Mac |  |  |  | Gilead Sciences, Inc. |  |  |
| 0.700% due 19/08/2025 | 39,600 | 39,600 |  | 0.713% due 29/09/2023 | 13,900 | 13,939 |
| Fannie Mae |  |  |  | Intercontinental Exchange, Inc. |  |  |
| 0.875% due 18/12/2026 | 39,000 | 39,000 |  | 0.834% due 15/06/2023 | 10,224 | 10,254 |
| Freddie Mac |  |  |  | Ginnie Mae |  |  |
| 0.650% due 27/10/2025 | 36,000 | 36,000 |  | 1.223% due 20/01/2050 | 9,508 | 9,586 |
| Freddie Mac |  |  |  | Federal Home Loan Bank |  |  |
| 1.200% due 17/04/2025 | 35,000 | 35,000 |  | 2.000% due 20/02/2025 | 9,500 | 9,501 |
| Freddie Mac |  |  |  | Occidental Petroleum Corp. |  |  |
| 0.650% due 22/10/2025 | 35,000 | 35,000 |  | 1.163% due 08/02/2021 | 11,586 | 9,385 |
| Freddie Mac |  |  |  | Credit Suisse AG |  |  |
| 0.700% due 19/08/2025 | 34,350 | 34,347 |  | 1.000% due 05/05/2023 | 8,500 | 8,624 |
| Landeskreditbank Baden-Wuerttemberg |  |  |  | Nationwide Building Society |  |  |
| Foerderbank |  |  |  | 2.000% due 27/01/2023 | 8,000 | 8,264 |
| 0.448% due 15/03/2022 | 34,000 | 34,023 |  | Freddie Mac |  |  |
| Freddie Mac |  |  |  | 0.750% due 21/07/2025 | 8,000 | 8,001 |
| 0.900% due 30/06/2025 | 33,000 | 33,000 |  | Mizuho Financial Group, Inc. |  |  |
| Credit Suisse AG |  |  |  | 1.057% due 11/09/2022 | 6,500 | 6,558 |
| 0.412% due 02/02/2024 | 30,000 | 30,000 |  | Freddie Mac |  |  |
| Freddie Mac |  |  |  | 0.900% due 28/05/2025 | 6,000 | 6,001 |
| 0.800% due 27/10/2026 | 29,650 | 29,646 |  | Bank of Nova Scotia |  |  |
| Federal Home Loan Bank |  |  |  | 1.950% due 01/02/2023 | 5,000 | 5,073 |
| 0.790% due 25/02/2026 | 28,300 | 28,293 |  | Cooperatieve Rabobank UA |  |  |
| International Bank for Reconstruction & |  |  |  | 0.335% due 12/01/2024 | 5,000 | 5,009 |
| Development |  |  |  | Freddie Mac |  |  |
| 0.650% due 10/02/2026 | 28,200 | 28,200 |  | 0.700% due 08/12/2025 | 5,000 | 5,001 |
| Freddie Mac |  |  |  | Mizuho Financial Group, Inc. |  |  |
| 0.750% due 28/07/2025 | 28,200 | 28,200 |  | 1.034% due 13/09/2023 | 4,300 | 4,340 |
|  |  |  |  | Significant portfolio changes are defined as the value of purchases exceeding 1% of total cost of purchases, and sales exceeding 1% of total proceeds. At a minimum the twenty largest purchases and twenty largest sales must be shown. Should there have been less than that amount of transactions, all such transactions have been disclosed. Repurchase Agreements, which may be utilised for uninvested Fund cash and which usually mature the next business day, and securities held to maturity, which matured during the reporting period, have been excluded from the Significant Changes in Portfolio Composition. |

| PAR DESCRIPTION	(000S) | COST (000S) |  | DESCRIPTION | PAR (000S) | PROCEEDS (000S) |
| --- | --- | --- | --- | --- | --- |
| PURCHASES THROUGH 31 MARCH 2021 |  | SALES THROUGH 31 MARCH 2021 |  |  |
| U.S. Treasury Notes |  |  |  | U.S. Treasury Notes |  |  |
| 1.500% due 15/08/2026 | $	7,500 | $ 8,009 |  | 1.125% due 28/02/2025 | $	13,200 | $ 13,729 |
| U.S. Treasury Inflation Protected Securities |  |  |  | U.S. Treasury Notes |  |  |
| 0.125% due 15/04/2025 (a) | 6,597 | 6,799 |  | 1.500% due 15/08/2026 | 7,500 | 7,882 |
| U.S. Treasury Notes |  |  |  | U.S. Treasury Notes |  |  |
| 0.250% due 31/05/2025 | 4,000 | 3,957 |  | 1.750% due 31/12/2024 | 5,400 | 5,752 |
| U.S. Treasury Notes |  |  |  | U.S. Treasury Inflation Protected Securities |  |  |
| 1.750% due 31/12/2024 | 2,700 | 2,877 |  | 0.625% due 15/04/2023 (a) | 4,094 | 4,361 |
| Bank of America Corp. |  |  |  | U.S. Treasury Notes |  |  |
| 1.319% due 19/06/2026 | 1,700 | 1,700 |  | 0.250% due 31/05/2025 | 3,500 | 3,435 |
| American Tower Corp. |  |  |  | D.R. Horton, Inc. |  |  |
| 1.300% due 15/09/2025 | 1,300 | 1,296 |  | 4.375% due 15/09/2022 | 1,600 | 1,682 |
| Westinghouse Air Brake Technologies Corp. |  |  |  | American Tower Corp. |  |  |
| 3.200% due 15/06/2025 | 1,100 | 1,138 |  | 1.300% due 15/09/2025 | 1,300 | 1,318 |
| IHS Markit Ltd. |  |  |  | Flex Ltd. |  |  |
| 5.000% due 01/11/2022 | 1,000 | 1,077 |  | 4.750% due 15/06/2025 | 1,200 | 1,280 |
| 7-Eleven, Inc. |  |  |  | Cooperatieve Rabobank UA |  |  |
| 0.625% due 10/02/2023 | 900 | 899 |  | 1.111% due 26/09/2023 | 1,100 | 1,096 |
| FirstEnergy Corp. |  |  |  | AerCap Ireland Capital DAC |  |  |
| 1.600% due 15/01/2026 | 900 | 899 |  | 4.450% due 03/04/2026 | 1,100 | 1,048 |
| East Ohio Gas Co. |  |  |  | Lloyds Banking Group PLC |  |  |
| 1.300% due 15/06/2025 | 800 | 799 |  | 2.907% due 07/11/2023 | 1,000 | 1,041 |
| Metropolitan Life Global Funding |  |  |  | Danske Bank A/S |  |  |
| 0.900% due 08/06/2023 | 800 | 799 |  | 1.280% due 12/09/2023 | 1,000 | 942 |
| Golub Capital BDC, Inc. |  |  |  | FirstEnergy Corp. |  |  |
| 2.500% due 24/08/2026 | 800 | 798 |  | 1.600% due 15/01/2026 | 900 | 906 |
| Volkswagen Financial Services NV |  |  |  | 7-Eleven, Inc. |  |  |
| 0.875% due 20/02/2025 | £	500 | 679 |  | 0.625% due 10/02/2023 | 900 | 902 |
| Georgia-Pacific LLC |  |  |  | Imperial Brands Finance PLC |  |  |
| 0.625% due 15/05/2024 | $	600 | 601 |  | 3.125% due 26/07/2024 | 900 | 892 |
| Protective Life Global Funding |  |  |  | Dell International LLC |  |  |
| 1.170% due 15/07/2025 | 600 | 600 |  | 4.000% due 15/07/2024 | 800 | 880 |
| NTT Finance Corp. |  |  |  | Park Aerospace Holdings Ltd. |  |  |
| 0.583% due 01/03/2024 | 600 | 600 |  | 5.250% due 15/08/2022 | 900 | 824 |
| Entergy Louisiana LLC |  |  |  | East Ohio Gas Co. |  |  |
| 0.620% due 17/11/2023 | 600 | 600 |  | 1.300% due 15/06/2025 | 800 | 816 |
| Oracle Corp. |  |  |  | Metropolitan Life Global Funding |  |  |
| 1.650% due 25/03/2026 | 600 | 600 |  | 0.900% due 08/06/2023 | 800 | 809 |
| Banco Bilbao Vizcaya Argentaria S.A. |  |  |  | United Airlines Pass-Through Trust |  |  |
| 0.875% due 18/09/2023 | 600 | 599 |  | 3.100% due 07/01/2030 | 842 | 800 |
| DAE Funding LLC |  |  |  | Air Canada Pass-Through Trust |  |  |
| 1.625% due 15/02/2024 | 600 | 595 |  | 3.750% due 15/06/2029 | 807 | 773 |
| Nissan Motor Co. Ltd. |  |  |  | CVS Health Corp. |  |  |
| 1.940% due 15/09/2023 | €	500 | 592 |  | 3.625% due 01/02/2027 | 700 | 765 |
|  |  |  |  | (a) Principal amount of security is adjusted for inflation. Significant portfolio changes are defined as the value of purchases exceeding 1% of total cost of purchases, and sales exceeding 1% of total proceeds. At a minimum the twenty largest purchases and twenty largest sales must be shown. Should there have been less than that amount of transactions, all such transactions have been disclosed. Repurchase Agreements, which may be utilised for uninvested Fund cash and which usually mature the next business day, and securities held to maturity, which matured during the reporting period, have been excluded from the Significant Changes in Portfolio Composition. |

| PURCHASES THROUGH 31 MARCH 2021 |
| --- |
| Caesars Entertainment, Inc. |  |  |
| 6.250% due 01/07/2025 | $	23,918 | $ 25,245 |
| Delta Air Lines, Inc. |  |  |
| 2.900% due 28/10/2024 | 16,280 | 14,807 |
| U.S. Foods, Inc. |  |  |
| 6.250% due 15/04/2025 | 11,750 | 12,544 |
| Deutsche Bank AG |  |  |
| 4.500% due 01/04/2025 | 10,800 | 11,340 |
| Change Healthcare Holdings LLC |  |  |
| 5.750% due 01/03/2025 | 10,950 | 11,258 |
| Ford Motor Co. |  |  |
| 9.000% due 22/04/2025 | 9,800 | 11,208 |
| Carnival Corp. |  |  |
| 11.500% due 01/04/2023 | 10,250 | 11,162 |
| Tempo Acquisition LLC |  |  |
| 6.750% due 01/06/2025 | 10,200 | 10,447 |
| Beacon Roofing Supply, Inc. |  |  |
| 4.875% due 01/11/2025 | 10,100 | 10,289 |
| KAR Auction Services, Inc. |  |  |
| 5.125% due 01/06/2025 | 9,600 | 9,832 |
| Macy’s, Inc. |  |  |
| 8.375% due 15/06/2025 | 8,750 | 9,233 |
| TransDigm, Inc. |  |  |
| 6.500% due 15/05/2025 | 9,150 | 9,090 |
| Royal Caribbean Cruises Ltd. |  |  |
| 10.875% due 01/06/2023 | 8,420 | 9,035 |
| Hilton Domestic Operating Co., Inc. |  |  |
| 5.375% due 01/05/2025 | 8,520 | 8,871 |
| Bausch Health Cos., Inc. |  |  |
| 6.125% due 15/04/2025 | 8,649 | 8,861 |
| Occidental Petroleum Corp. |  |  |
| 2.900% due 15/08/2024 | 10,420 | 8,376 |
| Freeport-McMoRan, Inc. |  |  |
| 4.550% due 14/11/2024 | 7,500 | 8,209 |
| Ford Motor Co. |  |  |
| 8.500% due 21/04/2023 | 7,600 | 8,137 |
| AMC Networks, Inc. |  |  |
| 4.750% due 01/08/2025 | 7,600 | 7,877 |
| Sprint Corp. |  |  |
| 7.125% due 15/06/2024 | 6,750 | 7,768 |
| Occidental Petroleum Corp. |  |  |
| 2.700% due 15/08/2022 | 8,100 | 7,625 |
| Station Casinos LLC |  |  |
| 5.000% due 01/10/2025 | 7,500 | 7,622 |

| PAR DESCRIPTION	(000S) | COST (000S) |  | DESCRIPTION | PAR (000S) | PROCEEDS (000S) |
| --- | --- | --- | --- | --- | --- |
|  |  |  | SALES THROUGH 31 MARCH 2021 |  |  |
|  |  |  | Ascent Resources Utica Holdings LLC |  |  |
|  |  |  |  | 10.000% due 01/04/2022 | $	7,464 | $ 7,389 |
|  |  |  |  | Denbury, Inc. |  |  |
|  |  |  |  | 9.000% due 15/05/2021 | 7,469 | 3,716 |
|  |  |  |  | Hertz Corp. |  |  |
|  |  |  |  | 7.625% due 01/06/2022 | 1,965 | 1,729 |
|  |  |  |  | Washington Prime Group LP |  |  |
|  |  |  |  | 6.450% due 15/08/2024 | 2,289 | 1,641 |
|  |  |  |  | Valaris PLC (8.000% PIK) |  |  |
|  |  |  |  | 8.000% due 17/08/2021 | 1,205 | 1,205 |
|  |  |  |  | Sprint Corp. |  |  |
|  |  |  |  | 7.875% due 15/09/2023 | 1,050 | 1,194 |
|  |  |  |  | HCA, Inc. |  |  |
|  |  |  |  | 5.875% due 01/05/2023 | 1,050 | 1,137 |
|  |  |  |  | Party City Holdings, Inc. |  |  |
|  |  |  |  | 6.125% due 15/08/2023 | 5,970 | 1,015 |
|  |  |  |  | Gulfport Energy Corp. |  |  |
|  |  |  |  | 6.625% due 01/05/2023 | 1,501 | 976 |
|  |  |  |  | Ford Motor Co. |  |  |
|  |  |  |  | 8.500% due 21/04/2023 | 800 | 890 |
|  |  |  |  | Whiting Petroleum Corp. |  |  |
|  |  |  |  | 5.750% due 15/03/2021 | 4,643 | 798 |
|  |  |  |  | U.S. Foods, Inc. |  |  |
|  |  |  |  | 6.250% due 15/04/2025 | 750 | 798 |
|  |  |  |  |  | SHARES |  |
|  |  |  |  | Jersey Newco | 15,437 | 760 |
|  |  |  |  |  |  |  |
|  |  |  |  |  | PAR (000S) |  |
|  |  |  |  |  |  |  |
|  |  |  |  | 4.750% due 15/07/2023 | $	720 | 745 |
|  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |
|  |  |  |  | 11.500% due 01/04/2023 | 650 | 744 |
|  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |
|  |  |  |  | 8.375% due 15/08/2022 | 720 | 729 |
|  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |
|  |  |  |  | 5.584% due 18/03/2024 | 640 | 688 |
|  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |
|  |  |  |  | 3.875% due 01/11/2023 | 640 | 672 |
|  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |
|  |  |  |  | 5.000% due 15/08/2025 | 640 | 672 |
|  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |
|  |  |  |  | 4.250% due 30/05/2023 | 640 | 648 |
|  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |
|  |  |  |  | 4.750% due 01/10/2024 | 610 | 622 |
|  |  |  |  | Significant portfolio changes are defined as the value of purchases exceeding 1% of total cost of purchases, and sales exceeding 1% of total proceeds. At a minimum the twenty largest purchases and twenty largest sales must be shown. Should there have been less than that amount of transactions, all such transactions have been disclosed. Repurchase Agreements, which may be utilised for uninvested Fund cash and which usually mature the next business day, and securities held to maturity, which matured during the reporting period, have been excluded from the Significant Changes in Portfolio Composition. |


#### Significant Changes in Portfolio Composition PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF 31 March 2021 (Unaudited)
EQM Midstream Partners LP Carnival Corp.
Vericast Corp.
Ford Motor Credit Co. LLC Yum! Brands, Inc.
Xerox Holdings Corp. Wynn Las Vegas LLC iStar, Inc.

#### Portfolio Turnover Rate
This report has been prepared in support of the Shareholder Rights Directive II disclosures to institutional investors. The length of time a Fund has held a particular security is not generally a consideration in investment decisions. A change in the securities held by a Fund is known as “portfolio turnover.” Each Fund may engage in frequent and active trading of portfolio securities to achieve its investment objective, particularly during periods of volatile market movements. High portfolio turnover may involve correspondingly greater transaction costs, including brokerage commissions or dealer
mark-ups and other transaction costs on the sale of securities and reinvestments in other securities, which are borne by the Fund. Such sales may also result in realisation of taxable capital gains, including short-term capital gains (which are generally taxed at ordinary income tax rates when distributed to shareholders). The transaction costs associated with portfolio turnover may adversely affect a Fund’s performance.
The portfolio turnover rate for the financial years ending 31 March 2021 and 31 March 2020 for each Fund is as follows:
|  Fund Name	 | 	Rate	Rate	 |
| --- | --- |
|  PIMCO Covered Bond UCITS ETF	 |   308%	1,124%  |
| PIMCO Emerging Markets Advantage Local Bond Index   UCITS ETF	 |   154%	78%  |
|  PIMCO Euro Low Duration Corporate Bond UCITS ETF  | 	43%	82%  |
| PIMCO Euro Short-Term High Yield Corporate Bond   Index UCITS ETF	 | 	39%	63%  |
|  PIMCO Euro Short Maturity UCITS ETF	 | 	66%	37%  |
|  PIMCO Sterling Short Maturity UCITS ETF	 |   112%	25%  |
|  PIMCO US Dollar Short Maturity UCITS ETF	 | 	64%	83%  |
|  PIMCO US Low Duration Corporate Bond UCITS ETF	 | 	63%	157%  |
| PIMCO US Short-Term High Yield Corporate Bond Index   UCITS ETF	 | 	50%	54%  |

Glossary: 
(abbreviations that may be used in the preceding statements)	
(Unaudited)
Counterparty Abbreviations:
| AZD | Australia and New Zealand Banking Group | GLM | Goldman Sachs Bank USA | RBC	Royal Bank of Canada |
| --- | --- | --- | --- | --- |
| BOA | Bank of America N.A. | GRE | RBS Securities, Inc. | RCY	Royal Bank of Canada |
| BPS | BNP Paribas S.A. | GST | Goldman Sachs International | RYL	Royal Bank of Scotland Group PLC |
| BRC | Barclays Bank PLC | HUS | HSBC Bank USA N.A. | SCX	Standard Chartered Bank |
| CBK | Citibank N.A. | IND | Crédit Agricole Corporate and Investment | SOG	Societe Generale |
| CFR | Credit Suisse Securities (Europe) Ltd. |  | Bank S.A. | SSB	State Street Bank and Trust Co. |
| COM | Commerzbank AG | JML | JP Morgan Securities Plc | TDM TD Securities (USA) LLC |
| DUB | Deutsche Bank AG | JPM | JP Morgan Chase Bank N.A. | TOR	Toronto Dominion Bank |
| FAR | Wells Fargo Bank National Association | JPS | JP Morgan Securities, Inc. | UAG	UBS AG Stamford |
| FBF | Credit Suisse International | MYC | Morgan Stanley Capital Services, Inc. |  |
| FICC | Fixed Income Clearing Corporation | MYI | Morgan Stanley & Co. International PLC |  |

Currency Abbreviations:
| ARS | Argentine Peso | DKK | Danish Krone | PHP | Philippine Peso |
| --- | --- | --- | --- | --- | --- |
| AUD | Australian Dollar | DOP | Dominican Peso | PLN | Polish Zloty |
| BRL | Brazilian Real | EUR (or €) | Euro | RUB | Russian Ruble |
| CAD | Canadian Dollar | GBP (or £) | British Pound | SEK | Swedish Krona |
| CHF | Swiss Franc | IDR | Indonesian Rupiah | SGD | Singapore Dollar |
| CLP | Chilean Peso | ILS | Israeli Shekel | THB | Thai Baht |
| CNH | Chinese Renminbi (Offshore) | INR | Indian Rupee | TRY | Turkish New Lira |
| CNY | Chinese Renminbi (Mainland) | JPY (or ¥) | Japanese Yen | USD (or $) | United States Dollar |
| COP | Colombian Peso | MXN | Mexican Peso | ZAR | South African Rand |
| CZK | Czech Koruna | MYR | Malaysian Ringgit |  |  |

Exchange Abbreviations: OTC	Over the Counter
Index/Spread Abbreviations:
CDX.HY	Credit Derivatives Index-High Yield
CDX.IG	Credit Derivatives Index-Investment Grade
CMBX  Commercial Mortgage-Backed Index	CNREPOFIX	China Fixing Repo Rates 7-Day
Other Abbreviations:
ABS	Asset-Backed Security
BTP	Buoni del Tesoro Poliennali CLO	Collateralised Loan Obligation DAC	Designated Activity Company
EURIBOR	Euro Interbank Offered Rate LIBOR	London Interbank Offered Rate OAT	Obligations Assimilables du Trésor PIK	Payment-in-Kind
RMBS Residential Mortgage-Backed Security
TBA	To-Be-Announced
TIIE	Tasa de Interés Interbancaria de Equilibrio “Equilibrium Interbank Interest Rate”
MANAGER
PIMCO Global Advisors (Ireland) Limited, 78 Sir John Rogerson’s Quay,
Dublin 2, D02 HD32,
Ireland.
INVESTMENT ADVISORS
Pacific Investment Management Company LLC,
650 Newport Center Drive, Newport Beach, California 92660, USA.
PIMCO Europe Ltd., 11 Baker Street, London W1U 3AH, United Kingdom.
PIMCO Europe GmbH, Seidlstraße 24-24a, 80335 Munich, Germany.
ADMINISTRATOR
State Street Fund Services (Ireland) Limited, 78 Sir John Rogerson’s Quay,
Dublin 2, D02 HD32,
Ireland.
DEPOSITARY
State Street Custodial Services (Ireland) Limited,
78 Sir John Rogerson’s Quay, Dublin 2,
D02 HD32,
Ireland.
DISTRIBUTOR
PIMCO Europe Ltd., 11 Baker Street, London W1U 3AH, United Kingdom.
UNITED KINGDOM REPRESENTATIVE
PIMCO Europe Ltd., 11 Baker Street, London W1U 3AH, England.
CO-PROMOTERS
PIMCO Europe Ltd., 11 Baker Street, London W1U 3AH, England.
(Up to 11 June 2020) Invesco UK Services Limited, Perpetual Park,
Perpetual Park Drive, Henley-on-Thames, Oxfordshire, RG9 1HH England.
AUSTRIAN PAYING AGENT
UniCredit Bank Austria AG, AMG/9991,
Am Hof 2,
1010 Vienna, Austria.
INTERNATIONAL PAYING AGENT
Citibank, N.A., London Branch, Citigroup Centre,
Canada Square, Canary Wharf, London E14 5LB, England.
GERMAN PAYING AND INFORMATION AGENT
Marcard, Stein & Co. AG, Ballindamm 36,
20095 Hamburg, Germany.
FRENCH CENTRALISING AND FINANCIAL AGENT
Société Générale Securities Services, 3, Rue d’Antin,
75002 Paris, France.
LUXEMBOURG PAYING AND REPRESENTATIVE AGENT
BNP Paribas Securities Services, 23, avenue de la Porte-Neuve, L-2085, Luxembourg.
SWISS PAYING AND REPRESENTATIVE AGENT
BNP Paribas Securities Services, Paris, succursale de Zurich, Selnaustrasse 16,
8002 Zurich, Switzerland.
SWEDEN PAYING AGENT
SEB Merchant Banking, Sergels Torg 2,
SE-106 40,
Stockholm, Sweden.
LEGAL ADVISORS AS TO IRISH LAW
Dillon Eustace,
33 Sir John Rogerson’s Quay, Dublin 2, D02 XK09,
Ireland.
INDEPENDENT AUDITORS
(From 28 January 2021) Grant Thornton,
13-18 City Quay,
Dublin 2, D02 ED70,
Ireland.
(Up to 28 January 2021) PricewaterhouseCoopers,
Chartered Accountants and Statutory Audit Firm,
One Spencer Dock, North Wall Quay, Dublin 2, D01 X9R7, Ireland.
SECRETARY
State Street Fund Services (Ireland) Limited, 78 Sir John Rogerson’s Quay,
Dublin 2, D02 HD32,
Ireland.
REGISTERED OFFICE
PIMCO ETFs plc,
78 Sir John Rogerson’s Quay, Dublin 2, D02 HD32,
Ireland.
DIRECTORS OF THE COMPANY AND THE MANAGER
V. Mangala Ananthanarayanan
1 
(India) Ryan P. Blute
1 
(USA)
John Bruton (Independent Director) (Ireland) Craig A. Dawson
1 
(USA)
David M. Kennedy (Independent Director) (Ireland)
Frances Ruane (Independent Director) (Ireland)
The Prospectus, supplements to the Prospectus, Memorandum & Articles of Association, annual and semiannual reports are available free of charge at the office of the representative or agent of each jurisdiction. Shareholders may obtain a copy of the list of changes in the portfolio during the financial year ended 31 March 2021, free of charge, at the office of the Administrator or Paying Agents, at the Paying and Information Agent in Germany and the Swiss Representative office in Switzerland.
1 
Employed by PIMCO.
General Information 
(Cont.)	
(Unaudited)
PIMCO Europe Ltd (Company No. 2604517) and PIMCO Europe Ltd — Italy (Company No. 07533910969) are authorised and regulated by the Financial Conduct Authority (12 Endeavour Square, London, E20 1JN) in the UK. The Italy branch is additionally regulated by the Commissione Nazionale per le Società e la Borsa (CONSOB) in accordance with Article 27 of the Italian Consolidated Financial Act. PIMCO Europe Ltd services are available only to professional clients as defined in the Financial Conduct Authority’s Handbook and are not available to individual investors, who should not rely on this communication.
PIMCO Europe GmbH (Company No. 192083, Seidlstr. 24-24a, 80335 Munich, Germany), PIMCO Europe GmbH Italian Branch (Company No. 10005170963) and PIMCO Europe GmbH Spanish Branch (N.I.F. W2765338E) are authorised and regulated by the German Federal Financial Supervisory Authority (BaFin) (Marie- Curie-Str. 24-28, 60439 Frankfurt am Main) in Germany in accordance with Section 32 of the German Banking Act (KWG). The Italian Branch and Spanish Branch are additionally supervised by the Commissione Nazionale per le Società e la Borsa (CONSOB) in accordance with Article 27 of the Italian Consolidated Financial Act and the Comisión Nacional del Mercado de Valores (CNMV) in accordance with obligations stipulated in articles 168 and 203 to 224, as well as obligations contained in Tile V, Section I of the Law on the Securities Market (LSM) and in articles 111, 114 and 117 of Royal Decree 217/2008, respectively. The services provided by PIMCO Europe GmbH are available only to professional clients as defined in Section 67 para. 2 German Securities Trading Act (WpHG). They are not available to individual investors, who should not rely on this communication.
PIMCO (Schweiz) GmbH (registered in Switzerland, Company No. CH-020.4.038.582-2), Brandschenkestrasse 41, 8002 Zurich, Switzerland, Tel: + 41 44 512 49 10. The services provided by PIMCO (Schweiz) GmbH are not available to individual investors, who should not rely on this communication but contact their financial adviser.

Translation (ENFR, 2021-03-31):
# Rapport du Commissaire aux comptes aux membres de PIMCO ETFs plc (suite)
### Objet de notre travail d’audit et personnes auxquelles nous devons rendre des comptes
Ce rapport est rédigé uniquement pour les membres de la Société, en tant qu’entité, conformément à la Section 391 du Companies Act de 2014. Notre travail d’audit a été effectué de manière à pouvoir énoncer aux membres de la Société les points que nous devons communiquer dans un rapport de commissaire aux comptes et à aucune autre fin. Dans la mesure où la loi l’autorise, nous n’assumons aucune responsabilité vis-à-vis de quiconque
autre que la Société et les membres de la Société, en tant qu’entité, à l’égard de notre travail d’audit, du présent rapport ou des opinions que nous avons exprimées.

### Rapport relatif aux autres exigences légales et réglementaires
Nous avons été désignés par les Conseil d’administration le 28 janvier 2021 afin d’auditer les états financiers pour l’exercice clos le 31 mars 2021. Nous avons été engagés pour auditer les états financiers de la Société pour la première fois cette année.
Notre responsabilité est d’obtenir une assurance raisonnable que les états financiers pris dans leur ensemble ne comportent pas d’inexactitudes importantes, que celles-ci résultent de fraudes ou d’erreurs. En raison des limites inhérentes à un audit, il existe un risque inévitable que des
inexactitudes importantes dans les états financiers ne soient pas détectées, même si l’audit est correctement planifié et réalisé conformément aux normes ISA. Notre approche d’audit est basée sur les risques et est expliquée plus en détail dans la section « Responsabilité du commissaire aux comptes dans le cadre de l’audit des états financiers » de notre rapport.
Nous n’avons pas fourni de services non liés à l’audit interdits par les Règles éthiques de l’IAASA et sommes restés indépendants de la Société dans le cadre de l’audit.
L’opinion d’audit est cohérente avec le rapport supplémentaire effectué auprès du comité d’audit.
Niamh Meenan Pour et au nom de

### Grant Thornton
Chartered Accountants & Statutory Audit Firm
Dublin Irlande
28 juillet 2021
Nous avons étudié la gestion des activités de PIMCO ETFs plc (la « Société ») pour l’exercice clôturé le 31 mars 2021 en notre qualité de Dépositaire de la Société.
Le présent rapport, opinion incluse, a été préparé à la seule intention des actionnaires de la Société en tant qu’organisme, conformément au Règlement 34, (1), (3) et (4) de la Partie 5 des Règlements de 2011 des Communautés européennes (Organismes de placement collectif en valeurs mobilières),
(« les Réglementations OPCVM ») et à aucune autre fin. En exprimant cette opinion, nous nous exonérons de toute responsabilité pour tout autre objet ou envers toute autre personne à qui ce rapport est présenté.

## RESPONSABILITÉS DU DÉPOSITAIRE
Nos devoirs et responsabilités sont définis dans le
Règlement 34, (1), (3) et (4) de la Partie 5 des Réglementations OPCVM. Ainsi, il est de notre devoir de nous interroger sur la gestion des activités de la Société pour chaque période comptable annuelle et d’en rendre compte aux actionnaires en conséquence.
Notre rapport doit établir si, au cours de ladite période comptable et selon nous, la gestion de la Société a été conforme aux dispositions prévues par l’Acte constitutif de la Société (l’« Acte constitutif ») et les Réglementations OPCVM. Il relève de la responsabilité générale de la Société de se conformer auxdites dispositions. Dans le cas où la Société n’aurait pas satisfait aux exigences légales, nous sommes tenus en qualité de Dépositaire d’en établir les raisons et de définir les mesures adoptées pour rectifier la situation.

## BASE DE L’OPINION DU DÉPOSITAIRE
Le Dépositaire dirige les révisions qu’il considère raisonnablement nécessaires aux fins d’exécuter ses obligations telles que définies à la Partie 5 du Règlement 34, (1), (3) et (4) des Réglementations OPCVM et afin de garantir que, à tous égards significatifs, la Société a été gérée (i) conformément aux restrictions sur les capacités d’investissement et d’emprunt prévues par les dispositions de l’Acte constitutif et à la Réglementation sur les OPCVM et
(ii) par ailleurs, conformément aux documents constitutifs et à la réglementation applicable.

## OPINION
À notre avis, la Société a, au cours de la période comptable, été gérée à tous égards significatifs :
(i) conformément aux limitations imposées sur les capacités d’investissement et d’emprunt de la Société prévues par l’Acte constitutif et par les Réglementations OPCVM et les Réglementations de 2019 de la Banque centrale [d’Irlande] (Supervision and Enforcement Act 2013 (Section 48(1)) (Organismes de placement collectif en valeurs mobilières) (les « Réglementations de la Banque centrale sur les OPCVM ») ; et
(ii) autrement conformément aux dispositions de l’Acte constitutif, des Réglementations OPCVM et des Réglementations de la Banque centrale sur les OPCVM.
State Street Custodial Services (Ireland) Limited, 78 Sir John Rogerson’s Quay,
Dublin D02 HD32, Irlande
Date : 28 juillet 2021
PIMCO Global Advisors (Ireland) Limited (le « Gestionnaire »), conformément aux obligations qui lui sont imposées par la Directive 2009/65/CE, telle que modifiée (la « Directive OPCVM »), est tenu de mettre en place des politiques et pratiques de rémunération à l’intention des catégories de personnel comprenant l’équipe dirigeante, les preneurs de risques, les fonctions de contrôle et tout employé percevant une rémunération totale le plaçant dans la même tranche de rémunération que les membres de l’équipe dirigeante et les preneurs de risques, dont les activités professionnelles ont une incidence importante sur les profils de risque du Gestionnaire ou de tout Organisme de Placement Collectif en Valeurs Mobilières (« OPCVM ») sous gestion, qui sont compatibles avec une gestion du risque saine et efficace, promeuvent celle-ci et n’encouragent pas une prise de risques incompatible avec les profils de risque, règles ou documents constitutifs du Gestionnaire ou de PIMCO ETFs plc (la « Société »).
La rémunération se compose de toutes les formes de paiements ou d’avantages accordés directement ou indirectement, mais au nom du Gestionnaire, en contrepartie des services professionnels fournis par le personnel. Cela comprend, le cas échéant : (i) toutes les formes de paiements ou d’avantages versés par le Gestionnaire ; (ii) les montants payés par la Société, y compris toute partie des commissions de performance ; et/ou (iii) tout transfert de parts ou d’actions de toute Société, en échange de services professionnels fournis par le Personnel identifié. La rémunération fixe désigne les paiements ou les avantages sans tenir compte de critères de performance. La rémunération variable correspond aux paiements ou aux avantages supplémentaires accordés en fonction des performances ou, dans certains cas, d’autres critères contractuels.

###### Des informations sont fournies concernant (a) le personnel du Gestionnaire ;

###### (b) le personnel appartenant à la haute direction ; et (c) le personnel qui a la capacité à influer de façon importante sur le profil de risque des Fonds,

###### y compris les personnes qui, bien que n’étant pas directement employées

###### par le Gestionnaire, sont affectées par leur employeur pour fournir des services directement au Gestionnaire (« Délégués »).
Le montant de la rémunération totale accordée par le Gestionnaire à son personnel, qui a été affecté aux activités liées aux OPCVM du Gestionnaire au titre de l’exercice de ce dernier clôturé le 31 mars 2021, s’élève à 42 600 €. Ce montant comprend une rémunération fixe de 42 600 € et une rémunération variable de 0 €. La rémunération décrite ci-dessus a été versée à trois bénéficiaires.

###### Le montant de la rémunération globale accordée par le Gestionnaire, qui a été attribuée à ses activités liées aux OPCVM pour l’exercice clos le 31 mars 2021,
à sa haute direction s’est élevé à 0 $. Pour les autres membres de son personnel dont les actions ont une incidence importante sur le profil de risque des activités liées aux OPCVM du Gestionnaire, le montant s’est élevé à 0 $.
Le montant de la rémunération totale attribuée par les Délégués à leur Personnel identifié et attribuée aux Fonds au titre de l’exercice clos le 31 mars 2021 s’élève à 41 945 $. Ce montant comprend une rémunération fixe de 1 776 $ et une rémunération variable de 40 169 $. La rémunération décrite ci-dessus a été versée à neuf bénéficiaires.
| DESCRIPTION | VALEUR NOMINALE (milliers) | FRAIS (milliers) |
| --- | --- | --- |
| ACHATS JUSQU’AU 31 MARS 2021	 |  |  |  |
| Santander UK PLC |  |  |  |
| 0,050 % due 12/01/2027 | € | 10 400 | €	10 527 |
| Sumitomo Mitsui Trust Bank Ltd. |  |  |  |
| 0,010 % due 15/10/2027 |  | 7 800 | 7 838 |
| Sveriges Sakerstallda Obligationer AB |  |  |  |
| 1,000 % due 12/06/2030 | SEK | 74 000 | 7 488 |
| Italy Buoni Poliennali Del Tesoro |  |  |  |
| 1,850 % due 01/07/2025 | € | 6 600 | 7 065 |
| PITCH FTA |  |  |  |
| 5,125 % due 20/07/2022 |  | 6 400 | 6 985 |
| Italy Buoni Poliennali Del Tesoro |  |  |  |
| 2,100 % due 15/07/2026 |  | 6 400 | 6 896 |
| République d’Allemagne |  |  |  |
| 1,250 % due 15/08/2048 |  | 5 000 | 6 834 |
| Banca Monte dei Paschi di Siena SpA |  |  |  |
| 0,875 % due 08/10/2027 |  | 6 700 | 6 792 |
| AXA Bank Europe SCF |  |  |  |
| 0,250 % due 09/06/2040 |  | 6 400 | 6 371 |
| Lloyds Bank PLC |  |  |  |
| 6,000 % due 08/02/2029 | £ | 3 881 | 6 164 |
| Caixa Economica Montepio Geral Caixa Economica Bancaria S.A. |
| 0,125 % due 14/11/2024 | € | 5 600 | 5 629 |
| SumitG Guaranteed Secured Obligation Issuer DAC |
| 2,251 % due 02/11/2020 | $ | 6 500 | 5 511 |
| Nykredit Realkredit A/S |  |  |  |
| 1,500 % due 01/10/2050 | DKK | 40 000 | 5 414 |
| AMCO - Asset Management Co. SpA |  |  |  |
| 2,625 % due 13/02/2024 |  | 4 900 | 5 176 |
| Santander UK PLC |  |  |  |
| 0,884 % due 12/02/2027 | £ | 4 600 | 5 078 |
| Santander UK PLC |  |  |  |
| 5,250 % due 16/02/2029 |  | 3 300 | 4 903 |
| Berlin Hyp AG |  |  |  |
| 0,010 % due 02/09/2030 | € | 4 800 | 4 902 |
| Lansforsakringar Hypotek AB |  |  |  |
| 1,250 % due 17/09/2025 | SEK | 47 900 | 4 844 |
| Realkredit Danmark A/S |  |  |  |
| 1,000 % due 01/10/2053 | DKK | 35 700 | 4 799 |
| Nykredit Realkredit A/S |  |  |  |
| 1,000 % due 01/10/2053 |  | 35 100 | 4 719 |
| Sumitomo Mitsui Banking Corp. |  |  |  |
| 0,409 % due 07/11/2029 | € | 4 600 | 4 715 |
| Nationwide Building Society |  |  |  |
| 1,375 % due 29/06/2032 |  | 4 100 | 4 694 |
| NORD/LB Luxembourg S.A. Covered Bond Bank |
| 0,010 % due 10/06/2027 |  | 4 500 | 4 547 |
| Nordea Kredit Realkreditaktieselskab |  |  |  |
| 1,000 % due 01/10/2053 | DKK | 32 300 | 4 349 |
| Nationale-Nederlanden Bank NV |  |  |  |
| 0,050 % due 12/11/2040 | € | 4 400 | 4 272 |
| Commonwealth Bank of Australia |  |  |  |
| 0,875 % due 19/02/2029 |  | 3 950 | 4 269 |
| Italy Buoni Poliennali Del Tesoro |  |  |  |
| 0,950 % due 15/09/2027 |  | 4 000 | 4 183 |
| Cajamar Caja Rural SCC |  |  |  |
| 0,875 % due 18/06/2023 |  | 4 000 | 4 116 |
| Kommuninvest I Sverige AB |  |  |  |
| 1,000 % due 02/10/2024 | SEK | 38 300 | 3 892 |
| Cie de Financement Foncier S.A. |  |  |  |
| 3,875 % due 25/04/2055 | € | 1 825 | 3 860 |
| Nordea Kredit Realkreditaktieselskab |  |  |  |
| 1,500 % due 01/10/2050 | DKK | 28 000 | 3 781 |
| Kookmin Bank |  |  |  |
| 0,052 % due 15/07/2025 |  | 3 700 | 3 728 |
| Cie de Financement Foncier S.A. |  |  |  |
| 1,200 % due 29/04/2031 | € | 3 300 | 3 716 |
| Nykredit Realkredit A/S |  |  |  |
| 1,000 % due 01/10/2050 | DKK | 27 100 | 3 611 |
| Jyske Realkredit A/S |  |  |  |
| 1,000 % due 01/10/2053 |  | 26 800 | 3 609 |
| Cooperatieve Rabobank UA |  |  |  |
| 0,010 % due 02/07/2030 | € | 3 500 | 3 576 |

| DESCRIPTION | VALEUR NOMINALE (milliers) | PRODUITS (milliers) |
| --- | --- | --- |
| VENTES JUSQU’AU 31 MARS 2021	 |  |  |  |
| PITCH FTA |  |  |  |
| 5,125 % due 20/07/2022 | € | 9 600 | €	10 579 |
| Santander UK PLC |  |  |  |
| 0,050 % due 12/01/2027 |  | 8 800 | 8 901 |
| République d’Allemagne |  |  |  |
| 1,250 % due 15/08/2048 |  | 6 500 | 8 732 |
| Santander UK PLC |  |  |  |
| 0,884 % due 12/02/2027 | £ | 6 800 | 7 571 |
| Sveriges Sakerstallda Obligationer AB |  |  |  |
| 1,000 % due 12/06/2030 | SEK | 74 000 | 7 558 |
| Banca Carige SpA |  |  |  |
| 1,247 % due 25/10/2021 | € | 7 300 | 7 344 |
| Italy Buoni Poliennali Del Tesoro |  |  |  |
| 1,850 % due 01/07/2025 |  | 6 600 | 7 109 |
| Italy Buoni Poliennali Del Tesoro |  |  |  |
| 2,100 % due 15/07/2026 |  | 6 400 | 6 981 |
| AXA Bank Europe SCF |  |  |  |
| 0,250 % due 09/06/2040 |  | 6 400 | 6 474 |
| Banco BPM SpA |  |  |  |
| 0,750 % due 31/03/2022 |  | 5 700 | 5 791 |
| Deutsche Bank AG |  |  |  |
| 0,050 % due 20/11/2024 |  | 5 700 | 5 760 |
| Canadian Imperial Bank of Commerce |  |  |  |
| 0,916 % due 28/10/2022 | £ | 5 000 | 5 571 |
| Commonwealth Bank of Australia |  |  |  |
| 1,071 % due 16/01/2025 |  | 5 000 | 5 564 |
| NIBC Bank NV |  |  |  |
| 1,000 % due 24/01/2060 | € | 5 100 | 5 551 |
| Nationale-Nederlanden Bank NV |  |  |  |
| 0,125 % due 24/09/2029 |  | 5 400 | 5 538 |
| National Australia Bank Ltd. |  |  |  |
| 0,891 % due 04/02/2025 | £ | 5 000 | 5 535 |
| Toronto-Dominion Bank |  |  |  |
| 0,546 % due 24/06/2022 |  | 4 900 | 5 512 |
| Sumitomo Mitsui Trust Bank Ltd. |  |  |  |
| 0,010 % due 15/10/2027 | € | 5 300 | 5 340 |
| Sumitomo Mitsui Banking Corp. |  |  |  |
| 0,409 % due 07/11/2029 |  | 4 950 | 5 135 |
| Santander UK PLC |  |  |  |
| 5,250 % due 16/02/2029 | £ | 3 300 | 5 031 |
| Berlin Hyp AG |  |  |  |
| 0,010 % due 02/09/2030 | € | 4 800 | 4 918 |
| Lloyds Bank PLC |  |  |  |
| 6,000 % due 08/02/2029 | £ | 3 100 | 4 904 |
| mBank Hipoteczny S.A. |  |  |  |
| 0,242 % due 15/09/2025 | € | 4 800 | 4 883 |
| Lansforsakringar Hypotek AB |  |  |  |
| 1,250 % due 17/09/2025 | SEK | 47 900 | 4 856 |
| Realkredit Danmark A/S |  |  |  |
| 1,000 % due 01/10/2053 | DKK | 35 635 | 4 757 |
| Nykredit Realkredit A/S |  |  |  |
| 1,000 % due 01/10/2053 |  | 35 008 | 4 676 |
| NORD/LB Luxembourg S.A. Covered Bond Bank |
| 0,010 % due 10/06/2027 | € | 4 500 | 4 556 |
| Stadshypotek AB |  |  |  |
| 2,000 % due 01/09/2028 | SEK | 43 000 | 4 555 |
| Nordea Kredit Realkreditaktieselskab |  |  |  |
| 1,000 % due 01/10/2053 | DKK | 32 205 | 4 308 |
| Nationale-Nederlanden Bank NV |  |  |  |
| 0,050 % due 12/11/2040 | € | 4 400 | 4 278 |
| Banca Monte dei Paschi di Siena SpA |  |  |  |
| 0,875 % due 08/10/2027 |  | 4 000 | 4 220 |
| Caixa Economica Montepio Geral Caixa Economica Bancaria S.A. |
| 0,125 % due 14/11/2024 |  | 4 000 | 4 044 |
| Kommuninvest I Sverige AB |  |  |  |
| 1,000 % due 02/10/2024 | SEK | 38 300 | 3 876 |
| Lloyds Bank PLC |  |  |  |
| 0,125 % due 23/09/2029 | € | 3 800 | 3 868 |
| Nationwide Building Society |  |  |  |
| 1,093 % due 10/01/2025 | £ | 3 300 | 3 706 |
| Cie de Financement Foncier S.A. |  |  |  |
| 1,200 % due 29/04/2031 | € | 3 300 | 3 704 |
| Clydesdale Bank PLC |  |  |  |
| 0,010 % due 22/09/2026 |  | 3 600 | 3 636 |

| DESCRIPTION | VALEUR NOMINALE (milliers) | PRODUITS (milliers) |
| --- | --- | --- |
| Nykredit Realkredit A/S |  |  |  |
| 1,000 % due 01/10/2050 | DKK | 26 700 | €	3 605 |
| Cajamar Caja Rural SCC |  |  |  |
| 0,875 % due 18/06/2023 | € | 3 500 | 3 602 |
| Nordea Kredit Realkreditaktieselskab |
| 1,500 % due 01/10/2050 | DKK | 26 130 | 3 594 |
| Cooperatieve Rabobank UA |  |  |  |
| 0,010 % due 02/07/2030 | € | 3 500 | 3 578 |
| Jyske Realkredit A/S |  |  |  |
| 1,000 % due 01/10/2053 | DKK | 26 754 | 3 561 |
| Italy Buoni Ordinari del Tesoro |  |  |  |
| 0,000 % due 14/05/2021 | € | 3 500 | 3 505 |
| Nationale-Nederlanden Bank NV |  |  |  |
| 0,010 % due 08/07/2030 |  | 3 300 | 3 364 |
| Banca Carige SpA |  |  |  |
| 1,250 % due 28/01/2021 |  | 3 300 | 3 309 |

| DESCRIPTION | VALEUR NOMINALE (milliers) | FRAIS (milliers) |
| --- | --- | --- |
| Italy Buoni Ordinari del Tesoro |  |  |  |
| 0,000 % due 14/05/2021 | € | 3 500 | €	3 500 |
| Nationale-Nederlanden Bank NV |  |  |  |
| 0,010 % due 08/07/2030 |  | 3 300 | 3 364 |
| Banca Carige SpA |  |  |  |
| 1,250 % due 28/01/2021 |  | 3 300 | 3 309 |
| Stadshypotek AB |  |  |  |
| 0,010 % due 24/11/2028 |  | 3 200 | 3 244 |
| Vseobecna Uverova Banka A/S |  |  |  |
| 0,010 % due 24/03/2026 |  | 3 200 | 3 244 |
| Billets du Trésor américain |  |  |  |
| 1,125 % due 15/02/2031 | $ | 3 900 | 3 182 |
| Jyske Realkredit A/S |  |  |  |
| 1,500 % due 01/10/2050 | DKK | 23 600 | 3 169 |
| Nationwide Building Society |  |  |  |
| 1,125 % due 31/05/2028 | € | 2 900 | 3 164 |
| DNB Boligkreditt A/S |  |  |  |
| 0,010 % due 21/01/2031 |  | 3 100 | 3 102 |
| Vseobecna Uverova Banka A/S |  |  |  |
| 0,250 % due 26/03/2024 |  | 3 000 | 3 029 |

Les variations significatives du portefeuille sont définies comme la valeur des acquisitions supérieures à 1 % du coût total des achats, et la valeur des ventes supérieures à 1 % du total des produits. Les 20 principaux achats et les
20 principales ventes au moins doivent être présentés. Si moins de 20 de ces opérations sont dénombrées, elles sont toutes divulguées.
Les contrats de mise en pension, qui peuvent être utilisés pour des liquidités non investies du Fonds et qui arrivent généralement à échéance le jour ouvrable suivant, et les titres détenus jusqu’à échéance, qui sont arrivés à échéance pendant l’exercice, sont exclus des Variations significatives du portefeuille.
| DESCRIPTION |  | VALEUR NOMINALE (milliers) | FRAIS (milliers) |
| --- | --- | --- | --- |
| ACHATS JUSQU’AU 31 MARS 2021	 |  |  |  |
| Brazil Letras do Tesouro Nacional |  |  |  |
| 0,000 % due 01/10/2021 | BRL | 157 700 | $	28 902 |
| Brazil Letras do Tesouro Nacional |  |  |  |
| 0,000 % due 01/01/2024 |  | 180 300 | 27 206 |
| Obligation internationale du gouvernement malaisien |
| 3,620 % due 30/11/2021 | MYR | 101 900 | 25 392 |
| Obligation internationale du gouvernement russe |
| 7,400 % due 17/07/2024 | RUB | 1 750 200 | 25 023 |
| Obligation internationale du gouvernement russe |
| 7,500 % due 18/08/2021 |  | 1 265 600 | 17 744 |
| Obligation internationale du gouvernement mexicain |
| 7,250 % due 09/12/2021 | MXN | 333 000 | 16 222 |
| Obligation internationale du gouvernement mexicain |
| 8,000 % due 05/09/2024 |  | 276 500 | 14 841 |
| Émission d’investissement du gouvernement malaisien |
| 4,170 % due 30/04/2021 | MYR | 54 500 | 12 862 |
| Brazil Letras do Tesouro Nacional |  |  |  |
| 0,000 % due 01/07/2023 | BRL | 70 600 | 11 188 |
| Obligation du gouvernement chinois |  |  |  |
| 2,880 % due 05/11/2023 | CNY | 68 100 | 10 541 |
| Obligation internationale du gouvernement russe |
| 6,500 % due 28/02/2024 | RUB | 735 400 | 10 311 |
| Obligation internationale du gouvernement polonais |
| 0,000 % due 25/05/2021 | PLN | 38 700 | 10 287 |
| Obligation internationale du gouvernement russe |
| 5,300 % due 04/10/2023 | RUB | 729 400 | 9 894 |
| Obligation internationale du gouvernement sud- africain |
| 8,875 % due 28/02/2035 | ZAR | 190 500 | 9 487 |
| Brazil Letras do Tesouro Nacional |  |  |  |
| 0,000 % due 01/07/2022 | BRL | 51 800 | 8 909 |
| Obligation internationale du gouvernement mexicain |
| 8,500 % due 18/11/2038 | MXN | 162 000 | 8 639 |
| Obligation internationale du gouvernement mexicain |
| 6,750 % due 09/03/2023 |  | 178 000 | 8 433 |
| Obligation internationale du gouvernement thaïlandais |
| 3,650 % due 17/12/2021 | THB | 225 900 | 7 441 |
| Obligation internationale du gouvernement russe |
| 4,500 % due 16/07/2025 | RUB | 535 600 | 7 404 |
| Obligation internationale du gouvernement thaïlandais |
| 1,450 % due 17/12/2024 | THB | 220 900 | 7 218 |
| Brazil Notas do Tesouro Nacional |  |  |  |
| 10,000 % due 01/01/2023 | BRL | 33 700 | 6 873 |
| Obligation internationale du gouvernement russe |
| 7,750 % due 16/09/2026 | RUB | 459 100 | 6 564 |
| Obligation internationale du gouvernement colombien |
| 7,750 % due 14/04/2021 | COP | 24 637 000 | 6 277 |
| Obligation internationale du gouvernement sud- africain |
| 10,500 % due 21/12/2027 | ZAR | 91 800 | 5 941 |
| Obligation internationale du gouvernement brésilien |
| 12,500 % due 05/01/2022 | BRL | 24 850 | 5 204 |
| Obligation internationale du gouvernement chilien |
| 5,500 % due 05/08/2020 | CLP | 3 868 000 | 4 676 |
| Obligation internationale du gouvernement mexicain |
| 8,500 % due 31/05/2029 | MXN | 80 000 | 4 434 |
| Colombian TES |  |  |  |
| 7,500 % due 26/08/2026 | COP | 13 653 700 | 4 238 |
| Obligation internationale du gouvernement brésilien |
| 10,250 % due 10/01/2028 | BRL | 20 400 | 4 195 |
| Obligation internationale du gouvernement israélien |
| 0,500 % due 31/01/2021 | ILS | 14 500 | 4 150 |

| DESCRIPTION |  | VALEUR NOMINALE (milliers) | PRODUITS (milliers) |
| --- | --- | --- | --- |
| VENTES JUSQU’AU 31 MARS 2021	 |  |  |  |
| Obligation internationale du gouvernement russe |
| 7,500 % due 18/08/2021 | RUB | 2 145 400 | $	29 360 |
| Brazil Letras do Tesouro Nacional |  |  |  |
| 0,000 % due 01/10/2021 | BRL | 157 700 | 28 380 |
| Obligation internationale du gouvernement mexicain |
| 6,500 % due 10/06/2021 | MXN | 438 790 | 19 934 |
| Obligation internationale du gouvernement malaisien |
| 3,620 % due 30/11/2021 | MYR | 73 500 | 18 077 |
| Obligation internationale du gouvernement colombien |
| 7,750 % due 14/04/2021 | COP | 62 500 000 | 17 511 |
| Obligation internationale du gouvernement mexicain |
| 7,250 % due 09/12/2021 | MXN | 333 000 | 16 840 |
| Obligation internationale du gouvernement russe |
| 7,400 % due 17/07/2024 | RUB | 1 130 600 | 15 974 |
| Obligation internationale du gouvernement polonais |
| 0,000 % due 25/05/2021 | PLN | 59 060 | 15 661 |
| Brazil Letras do Tesouro Nacional |  |  |  |
| 0,000 % due 01/01/2024 | BRL | 92 200 | 14 286 |
| Brazil Notas do Tesouro Nacional |  |  |  |
| 10,000 % due 01/01/2023 |  | 68 200 | 13 926 |
| Émission d’investissement du gouvernement malaisien |
| 4,170 % due 30/04/2021 | MYR | 54 500 | 12 776 |
| Brazil Letras do Tesouro Nacional |  |  |  |
| 0,000 % due 01/07/2022 | BRL | 71 800 | 12 267 |
| Obligation internationale du gouvernement russe |
| 6,500 % due 28/02/2024 | RUB | 873 682 | 11 551 |
| Obligation internationale du gouvernement russe |
| 5,300 % due 04/10/2023 |  | 729 400 | 9 744 |
| Obligation internationale du gouvernement mexicain |
| 8,000 % due 07/11/2047 | MXN | 187 500 | 9 483 |
| Obligation internationale du gouvernement mexicain |
| 6,750 % due 09/03/2023 |  | 178 000 | 9 158 |
| Obligation internationale du gouvernement mexicain |
| 8,000 % due 07/12/2023 |  | 172 700 | 8 658 |
| Obligation internationale du gouvernement brésilien |
| 10,250 % due 10/01/2028 | BRL | 36 185 | 7 858 |
| Obligation internationale du gouvernement thaïlandais |
| 3,650 % due 17/12/2021 | THB | 226 117 | 7 533 |
| Obligation internationale du gouvernement thaïlandais |
| 1,450 % due 17/12/2024 |  | 221 400 | 7 317 |
| Brazil Notas do Tesouro Nacional |  |  |  |
| 10,000 % due 01/01/2025 | BRL | 31 700 | 7 196 |
| Obligation internationale du gouvernement brésilien |
| 8,500 % due 05/01/2024 |  | 33 105 | 6 865 |
| Obligation internationale du gouvernement polonais |
| 4,000 % due 25/10/2023 | PLN | 21 300 | 6 445 |
| Obligation internationale du gouvernement sud-africain |
| 10,500 % due 21/12/2027 | ZAR | 91 800 | 6 237 |
| Obligation internationale du gouvernement sud-africain |
| 8,875 % due 28/02/2035 |  | 99 898 | 5 543 |
| Obligation internationale du gouvernement mexicain |
| 7,750 % due 29/05/2031 | MXN | 87 500 | 4 475 |
| Obligation internationale du gouvernement israélien |
| 0,500 % due 31/01/2021 | ILS | 14 500 | 4 431 |
| Colombian TES |  |  |  |
| 7,500 % due 26/08/2026 | COP | 13 264 100 | 4 360 |

Les variations significatives du portefeuille sont définies comme la valeur des acquisitions supérieures à 1 % du coût total des achats, et la valeur des ventes supérieures à 1 % du total des produits. Les 20 principaux achats et les
20 principales ventes au moins doivent être présentés. Si moins de 20 de ces opérations sont dénombrées, elles sont toutes divulguées.
Les contrats de mise en pension, qui peuvent être utilisés pour des liquidités non investies du Fonds et qui arrivent généralement à échéance le jour ouvrable suivant, et les titres détenus jusqu’à échéance, qui sont arrivés à échéance pendant l’exercice, sont exclus des Variations significatives du portefeuille.
| DESCRIPTION | VALEUR NOMINALE (milliers) | PRODUITS (milliers) |
| --- | --- | --- |
| VENTES JUSQU’AU 31 MARS 2021	 |  |  |  |
| République d’Allemagne |  |  |  |
| 1,500 % due 15/05/2023 | € | 4 500 | €	4 757 |
| Obligation internationale du gouvernement français |  |  |  |
| 0,250 % due 25/07/2024 |  | 4 343 | 4 614 |
| Billets du Trésor américain |  |  |  |
| 1,875 % due 31/08/2022 | $ | 5 200 | 4 476 |
| République d’Allemagne |  |  |  |
| 1,500 % due 04/09/2022 | € | 3 800 | 3 968 |
| Barclays PLC |  |  |  |
| 1,875 % due 08/12/2023 |  | 3 100 | 3 265 |
| Abertis Infraestructuras S.A. |  |  |  |
| 3,750 % due 20/06/2023 |  | 2 800 | 3 061 |
| Airbus SE |  |  |  |
| 1,375 % due 09/06/2026 |  | 2 900 | 3 046 |
| Société Générale S.A. |  |  |  |
| 0,000 % due 27/05/2022 |  | 3 000 | 3 016 |
| Clearstream Banking AG |  |  |  |
| 0,000 % due 01/12/2025 |  | 2 800 | 2 821 |
| Ford Motor Credit Co. LLC |  |  |  |
| 0,000 % due 07/12/2022 |  | 2 900 | 2 640 |
| BNP Paribas S.A. |  |  |  |
| 1,250 % due 19/03/2025 |  | 2 500 | 2 618 |
| Volkswagen International Finance NV |  |  |  |
| 3,500 % due 17/06/2025 |  | 2 300 | 2 436 |
| AT&T, Inc. |  |  |  |
| 1,600 % due 19/05/2028 |  | 2 100 | 2 293 |
| ACS Actividades de Construccion y Servicios S.A. |  |  |  |
| 1,375 % due 17/06/2025 |  | 2 200 | 2 197 |
| HSBC Holdings PLC |  |  |  |
| 0,000 % due 05/10/2023 |  | 2 100 | 2 111 |
| Continental AG |  |  |  |
| 2,500 % due 27/08/2026 |  | 2 000 | 2 110 |
| Bank of America Corp. |  |  |  |
| 0,503 % due 07/02/2022 |  | 2 100 | 2 105 |
| Wells Fargo & Co. |  |  |  |
| 1,338 % due 04/05/2025 |  | 2 000 | 2 078 |
| Bevco Lux SARL |  |  |  |
| 1,750 % due 09/02/2023 |  | 1 900 | 1 969 |
| Ubisoft Entertainment S.A. |  |  |  |
| 1,289 % due 30/01/2023 |  | 1 900 | 1 941 |
| ABN AMRO Bank NV |  |  |  |
| 6,375 % due 27/04/2021 |  | 1 800 | 1 857 |
| Kreditanstalt fuer Wiederaufbau |  |  |  |
| 0,000 % due 15/09/2023 |  | 1 600 | 1 630 |
| INEOS Styrolution Group GmbH |  |  |  |
| 2,250 % due 16/01/2027 |  | 1 700 | 1 591 |
| MTU Aero Engines AG |  |  |  |
| 3,000 % due 01/07/2025 |  | 1 500 | 1 557 |
| IHO Verwaltungs GmbH |  |  |  |
| 3,625 % due 15/05/2025 |  | 1 500 | 1 535 |
| UBS Group AG |  |  |  |
| 0,160 % due 20/09/2022 |  | 1 500 | 1 507 |
| EssilorLuxottica S.A. |  |  |  |
| 0,000 % due 27/05/2023 |  | 1 500 | 1 499 |
| Volkswagen Bank GmbH |  |  |  |
| 1,875 % due 31/01/2024 |  | 1 400 | 1 477 |
| ACTIONS |
| PIMCO ETFs plc - Fonds PIMCO Euro Short Maturity UCITS ETF (a) |  | 15 000 | 1 470 |
| VALEUR NOMINALE (milliers) |
| Crédit Agricole S.A. |  |  |  |
| 0,875 % due 14/01/2032 | € | 1 400 | 1 442 |
| Lunar Funding for Swisscom AG |  |  |  |
| 1,875 % due 08/09/2021 |  | 1 400 | 1 427 |
| Proximus SADP |  |  |  |
| 0,500 % due 22/03/2022 |  | 1 400 | 1 411 |
| Volkswagen Bank GmbH |  |  |  |
| 1,250 % due 01/08/2022 |  | 1 400 | 1 409 |
| RCI Banque S.A. |  |  |  |
| 0,625 % due 10/11/2021 |  | 1 400 | 1 406 |
| Goldman Sachs Group, Inc. |  |  |  |
| 0,093 % due 09/09/2022 |  | 1 400 | 1 405 |

| DESCRIPTION | VALEUR NOMINALE (milliers) | FRAIS (milliers) |
| --- | --- | --- |
| ACHATS JUSQU’AU 31 MARS 2021	 |  |  |  |
| Obligation internationale du gouvernement français |  |  |  |
| 0,250 % due 25/07/2024 | € | 7 471 | €	7 869 |
| ACTIONS |
| PIMCO ETFs plc - Fonds PIMCO Euro Short Maturity UCITS ETF (a) |  | 63 500 | 6 214 |
| VALEUR NOMINALE (milliers) |
| Barclays PLC |  |  |  |
| 3,375 % due 02/04/2025 | € | 3 300 | 3 624 |
| Abertis Infraestructuras S.A. |  |  |  |
| 3,375 % due 27/11/2026 | £ | 2 600 | 3 118 |
| Abertis Infraestructuras S.A. |  |  |  |
| 3,750 % due 20/06/2023 | € | 2 800 | 3 051 |
| Booking Holdings, Inc. |  |  |  |
| 0,100 % due 08/03/2025 |  | 3 000 | 2 999 |
| Takeda Pharmaceutical Co. Ltd. |  |  |  |
| 0,750 % due 09/07/2027 |  | 2 900 | 2 899 |
| AT&T, Inc. |  |  |  |
| 1,600 % due 19/05/2028 |  | 2 900 | 2 898 |
| Airbus SE |  |  |  |
| 1,375 % due 09/06/2026 |  | 2 900 | 2 896 |
| Cromwell Ereit Lux Finco SARL |  |  |  |
| 2,125 % due 19/11/2025 |  | 2 900 | 2 895 |
| Clearstream Banking AG |  |  |  |
| 0,000 % due 01/12/2025 |  | 2 800 | 2 817 |
| Vantage Towers AG |  |  |  |
| 0,000 % due 31/03/2025 |  | 2 500 | 2 492 |
| Volkswagen International Finance NV |  |  |  |
| 3,500 % due 17/06/2025 |  | 2 300 | 2 300 |
| Redexis Gas Finance BV |  |  |  |
| 1,875 % due 28/05/2025 |  | 2 300 | 2 289 |
| Ubisoft Entertainment S.A. |  |  |  |
| 0,878 % due 24/11/2027 |  | 2 200 | 2 200 |
| ACS Actividades de Construccion y Servicios S.A. |  |  |  |
| 1,375 % due 17/06/2025 |  | 2 200 | 2 199 |
| Nissan Motor Co. Ltd. |  |  |  |
| 3,522 % due 17/09/2025 | $ | 2 500 | 2 106 |
| Wells Fargo & Co. |  |  |  |
| 1,338 % due 04/05/2025 | € | 2 000 | 2 049 |
| Continental AG |  |  |  |
| 2,500 % due 27/08/2026 |  | 2 000 | 1 976 |
| Credit Agricole Assurances S.A. |  |  |  |
| 4,500 % due 14/10/2025 |  | 1 500 | 1 725 |
| Daimler AG |  |  |  |
| 2,000 % due 22/08/2026 |  | 1 600 | 1 588 |
| Telecom Italia SpA |  |  |  |
| 5,875 % due 19/05/2023 | £ | 1 300 | 1 583 |
| Mizuho Financial Group, Inc. |  |  |  |
| 0,118 % due 06/09/2024 | € | 1 600 | 1 577 |
| UBS Group AG |  |  |  |
| 1,250 % due 17/04/2025 |  | 1 500 | 1 548 |
| BNP Paribas S.A. |  |  |  |
| 1,125 % due 28/08/2024 |  | 1 500 | 1 539 |
| Bank of Ireland Group PLC |  |  |  |
| 1,375 % due 29/08/2023 |  | 1 500 | 1 513 |
| Medtronic Global Holdings S.C.A. |  |  |  |
| 0,000 % due 15/03/2023 |  | 1 500 | 1 501 |
| Intesa Sanpaolo SpA |  |  |  |
| 1,000 % due 04/07/2024 |  | 1 500 | 1 500 |
| Virgin Money UK PLC |  |  |  |
| 2,875 % due 24/06/2025 |  | 1 500 | 1 499 |
| Fraport AG Frankfurt Airport Services Worldwide |  |  |  |
| 1,625 % due 09/07/2024 |  | 1 500 | 1 494 |
| MTU Aero Engines AG |  |  |  |
| 3,000 % due 01/07/2025 |  | 1 500 | 1 491 |
| Traton Finance Luxembourg S.A. |  |  |  |
| 0,125 % due 24/03/2025 |  | 1 400 | 1 394 |
| BPCE S.A. |  |  |  |
| 0,500 % due 15/09/2027 |  | 1 400 | 1 389 |
| ASR Nederland NV |  |  |  |
| 5,000 % due 30/09/2024 |  | 1 200 | 1 367 |

(a) Le Fonds PIMCO Euro Low Duration Corporate Bond UCITS ETF investit dans des actions d’un fonds affilié.
Les variations significatives du portefeuille sont définies comme la valeur des acquisitions supérieures à 1 % du coût total des achats, et la valeur des ventes supérieures à 1 % du total des produits. Les
20 principaux achats et les 20 principales ventes au moins doivent être présentés. Si moins de 20 de ces opérations sont dénombrées, elles sont toutes divulguées.
Les contrats de mise en pension, qui peuvent être utilisés pour des liquidités non investies du Fonds et qui arrivent généralement à échéance le jour ouvrable suivant, et les titres détenus jusqu’à échéance, qui sont arrivés à échéance pendant l’exercice, sont exclus des Variations significatives du portefeuille.
| DESCRIPTION | VALEUR NOMINALE (milliers) | PRODUITS (milliers) |
| --- | --- | --- |
| VENTES JUSQU’AU 31 MARS 2021	 |  |  |  |
| Nidda Healthcare Holding GmbH |  |  |  |
| 3,500 % due 30/09/2024 | € | 1 020 | €  1 013 |
| Fiat Chrysler Finance Europe SENC |  |  |  |
| 4,750 % due 15/07/2022 |  | 844 | 902 |
| Fiat Chrysler Automobiles NV |  |  |  |
| 3,750 % due 29/03/2024 |  | 750 | 832 |
| SoftBank Group Corp. |  |  |  |
| 4,000 % due 20/04/2023 |  | 740 | 771 |
| Fiat Chrysler Finance Europe SENC |  |  |  |
| 4,750 % due 22/03/2021 |  | 550 | 556 |
| Repsol International Finance BV |  |  |  |
| 3,875 % due 25/03/2021 |  | 540 | 546 |
| Centrica PLC |  |  |  |
| 3,000 % due 10/04/2076 |  | 545 | 542 |
| Bankia S.A. |  |  |  |
| 3,750 % due 15/02/2029 |  | 500 | 501 |
| Orano S.A. |  |  |  |
| 3,500 % due 22/03/2021 |  | 500 | 501 |
| Vodafone Group PLC |  |  |  |
| 3,100 % due 03/01/2079 |  | 500 | 499 |
| Verisure Midholding AB |  |  |  |
| 5,750 % due 01/12/2023 |  | 475 | 465 |
| Vallourec S.A. |  |  |  |
| 6,625 % due 15/10/2022 |  | 520 | 441 |
| DKT Finance ApS |  |  |  |
| 7,000 % due 17/06/2023 |  | 430 | 433 |
| Valeo S.A. |  |  |  |
| 0,375 % due 12/09/2022 |  | 400 | 401 |
| Hertz Holdings Netherlands BV |  |  |  |
| 5,500 % due 30/03/2023 |  | 450 | 371 |
| Lincoln Financing SARL |  |  |  |
| 3,625 % due 01/04/2024 |  | 350 | 354 |
| Renault S.A. |  |  |  |
| 3,125 % due 05/03/2021 |  | 350 | 351 |
| Intesa Sanpaolo SpA |  |  |  |
| 6,625 % due 13/09/2023 |  | 300 | 335 |
| Smurfit Kappa Acquisitions ULC |  |  |  |
| 2,375 % due 01/02/2024 |  | 300 | 318 |
| Deutsche Lufthansa AG |  |  |  |
| 5,125 % due 12/08/2075 |  | 360 | 317 |

| DESCRIPTION | VALEUR NOMINALE (milliers) | FRAIS (milliers) |
| --- | --- | --- |
| ACHATS JUSQU’AU 31 MARS 2021	 |  |  |  |
| UniCredit SpA |  |  |  |
| 6,950 % due 31/10/2022 | € | 730 | €  792 |
| Ford Motor Credit Co. LLC |  |  |  |
| 3,021 % due 06/03/2024 |  | 796 | 712 |
| Assicurazioni Generali SpA |  |  |  |
| 4,596 % due 21/11/2025 |  | 600 | 669 |
| UniCredit SpA |  |  |  |
| 4,875 % due 20/02/2029 |  | 637 | 643 |
| UniCredit SpA |  |  |  |
| 5,750 % due 28/10/2025 |  | 637 | 640 |
| FCE Bank PLC |  |  |  |
| 1,615 % due 11/05/2023 |  | 700 | 629 |
| Électricité de France S.A. |  |  |  |
| 4,000 % due 04/07/2024 |  | 600 | 629 |
| ArcelorMittal S.A. |  |  |  |
| 3,125 % due 14/01/2022 |  | 600 | 613 |
| Abertis Infraestructuras Finance BV |  |  |  |
| 3,248 % due 24/11/2025 |  | 600 | 613 |
| IHO Verwaltungs GmbH (3,625 % en numéraire ou 4,375 % en PIK) |
| 3,625 % due 15/05/2025 |  | 600 | 608 |
| Nidda Healthcare Holding GmbH |  |  |  |
| 3,500 % due 30/09/2024 |  | 600 | 594 |
| ArcelorMittal S.A. |  |  |  |
| 1,000 % due 19/05/2023 |  | 600 | 580 |
| Renault S.A. |  |  |  |
| 1,250 % due 24/06/2025 |  | 600 | 564 |
| Électricité de France S.A. |  |  |  |
| 5,375 % due 29/01/2025 |  | 500 | 552 |
| ArcelorMittal S.A. |  |  |  |
| 2,250 % due 17/01/2024 |  | 500 | 521 |
| Grifols S.A. |  |  |  |
| 1,625 % due 15/02/2025 |  | 500 | 491 |
| SoftBank Group Corp. |  |  |  |
| 3,125 % due 19/09/2025 |  | 480 | 479 |
| Électricité de France S.A. |  |  |  |
| 5,000 % due 22/01/2026 |  | 400 | 454 |
| Carnival Corp. |  |  |  |
| 10,125 % due 01/02/2026 |  | 380 | 444 |
| Telecom Italia SpA |  |  |  |
| 4,000 % due 11/04/2024 |  | 400 | 435 |
| Rolls-Royce PLC |  |  |  |
| 4,625 % due 16/02/2026 |  | 400 | 432 |

Les variations significatives du portefeuille sont définies comme la valeur des acquisitions supérieures à 1 % du coût total des achats, et la valeur des ventes supérieures à 1 % du total des produits. Les 20 principaux achats et les 20 principales ventes au moins doivent être présentés. Si moins de 20 de ces opérations sont dénombrées, elles sont toutes divulguées.
Les contrats de mise en pension, qui peuvent être utilisés pour des liquidités non investies du Fonds et qui arrivent généralement à échéance le jour ouvrable suivant, et les titres détenus jusqu’à échéance, qui sont arrivés à échéance pendant l’exercice, sont exclus des Variations significatives du portefeuille.
| DESCRIPTION | VALEUR NOMINALE (milliers) | PRODUITS (milliers) |
| --- | --- | --- |
| VENTES JUSQU’AU 31 MARS 2021	 |  |  |  |
| Italy Buoni Poliennali Del Tesoro |  |  |  |
| 0,950 % due 01/03/2023 | € | 62 000 | € 63 655 |
| Banco Bilbao Vizcaya Argentaria S.A. |  |  |  |
| 0,050 % due 12/04/2022 |  | 25 200 | 25 336 |
| Barclays PLC |  |  |  |
| 1,875 % due 23/03/2021 |  | 24 700 | 24 853 |
| Banque Fédérative du Crédit Mutuel S.A. |  |  |  |
| 0,375 % due 13/01/2022 |  | 22 700 | 22 775 |
| SC Germany S.A., Compartment Consumer |
| 0,142 % due 14/11/2034 |  | 21 800 | 22 086 |
| Intesa Sanpaolo SpA |  |  |  |
| 2,000 % due 18/06/2021 |  | 19 100 | 19 411 |
| JPMorgan Chase & Co. |  |  |  |
| 1,375 % due 16/09/2021 |  | 18 449 | 18 705 |
| Imperial Brands Finance PLC |  |  |  |
| 0,500 % due 27/07/2021 |  | 16 144 | 16 198 |
| American Honda Finance Corp. |  |  |  |
| 0,644 % due 15/02/2022 | $ | 17 900 | 16 058 |
| Citigroup, Inc. |  |  |  |
| 1,375 % due 27/10/2021 | € | 15 600 | 15 801 |
| Wells Fargo & Co. |  |  |  |
| 0,000 % due 31/01/2022 |  | 15 000 | 15 065 |
| Wizink Master Credit Cards FT |  |  |  |
| 0,000 % due 26/12/2031 |  | 15 000 | 15 000 |
| Cars Alliance Auto Leases France |  |  |  |
| 0,148 % due 21/10/2036 |  | 14 400 | 14 609 |
| RCI Banque S.A. |  |  |  |
| 0,128 % due 14/03/2022 |  | 14 600 | 14 444 |
| Realkredit Danmark A/S |  |  |  |
| 1,000 % due 01/04/2022 | DKK | 98 200 | 13 396 |
| Standard Chartered PLC |  |  |  |
| 1,625 % due 13/06/2021 | € | 10 400 | 10 445 |
| Credit Suisse Group Funding Guernsey Ltd. |
| 1,250 % due 14/04/2022 |  | 10 000 | 10 030 |
| ING Bank NV |  |  |  |
| 0,000 % due 08/04/2022 |  | 9 900 | 9 966 |
| Citigroup, Inc. |  |  |  |
| 0,287 % due 24/05/2021 |  | 9 700 | 9 740 |
| FCT Titrisocram |  |  |  |
| 0,000 % due 25/07/2036 |  | 9 163 | 9 175 |
| Mondelez International, Inc. |  |  |  |
| 1,000 % due 07/03/2022 |  | 9 000 | 9 119 |
| Pfizer, Inc. |  |  |  |
| 0,250 % due 06/03/2022 |  | 8 900 | 8 953 |
| RCI Banque S.A. |  |  |  |
| 0,250 % due 12/07/2021 |  | 8 800 | 8 739 |
| Bank of America Corp. |  |  |  |
| 1,375 % due 10/09/2021 |  | 8 340 | 8 430 |
| Nationwide Building Society |  |  |  |
| 4,375 % due 28/02/2022 |  | 7 900 | 8 401 |
| British Telecommunications PLC |  |  |  |
| 0,625 % due 10/03/2021 |  | 8 200 | 8 225 |
| Nykredit Realkredit A/S |  |  |  |
| 1,000 % due 01/07/2022 | DKK | 57 400 | 7 858 |
| Morgan Stanley |  |  |  |
| 0,000 % due 09/11/2021 | € | 7 600 | 7 488 |
| Ford Motor Credit Co. LLC |  |  |  |
| 1,104 % due 12/10/2021 | $ | 8 900 | 7 433 |
| HSBC Continental Europe S.A. |  |  |  |
| 0,200 % due 04/09/2021 | € | 7 100 | 7 135 |
| Goldman Sachs Group, Inc. |  |  |  |
| 0,457 % due 27/07/2021 |  | 7 000 | 7 039 |
| NatWest Markets PLC |  |  |  |
| 0,625 % due 02/03/2022 |  | 7 000 | 6 860 |
| Morgan Stanley |  |  |  |
| 0,000 % due 21/05/2021 |  | 6 600 | 6 619 |
| Crédit Agricole S.A. |  |  |  |
| 0,875 % due 19/01/2022 |  | 6 400 | 6 475 |

| DESCRIPTION |  | VALEUR NOMINALE (milliers) | FRAIS (milliers) |
| --- | --- | --- | --- |
| ACHATS JUSQU’AU 31 MARS 2021	 |  |  |  |
| Italy Buoni Poliennali Del Tesoro |  |  |  |
| 0,950 % due 01/03/2023 | € | 62 000 | €	63 513 |
| Bevco Lux SARL |  |  |  |
| 1,750 % due 09/02/2023 |  | 27 003 | 27 991 |
| Bank of America Corp. |  |  |  |
| 0,240 % due 04/05/2023 |  | 25 550 | 25 695 |
| Freddie Mac |  |  |  |
| 0,600 % due 15/10/2025 | $ | 30 000 | 25 440 |
| Trinity Square PLC |  |  |  |
| 0,000 % due 15/07/2059 | £ | 21 600 | 25 229 |
| Fannie Mae |  |  |  |
| 0,875 % due 18/12/2026 | $ | 30 000 | 24 831 |
| HSBC Holdings PLC |  |  |  |
| 0,162 % due 27/09/2022 | € | 24 000 | 24 050 |
| Daimler Canada Finance, Inc. |  |  |  |
| 0,160 % due 11/09/2022 |  | 23 500 | 23 637 |
| Credit Suisse Group Funding Guernsey Ltd. |
| 1,250 % due 14/04/2022 |  | 23 033 | 23 514 |
| Obligation internationale du gouvernement israélien |
| 0,000 % due 22/07/2022 |  | 22 700 | 22 700 |
| SC Germany S.A., Compartment Consumer |
| 0,142 % due 14/11/2034 |  | 21 800 | 22 041 |
| Cardiff Auto Receivables Securitisation PLC |
| 0,679 % due 16/09/2025 | £ | 18 340 | 20 352 |
| Fukuoka Prefecture |  |  |  |
| 0,880 % due 22/06/2022 | ¥ | 2 520 000 | 20 190 |
| Medtronic Global Holdings S.C.A. |  |  |  |
| 0,000 % due 15/03/2023 | € | 20 100 | 20 131 |
| BMW Finance NV |  |  |  |
| 0,062 % due 24/06/2022 |  | 19 500 | 19 557 |
| NatWest Group PLC |  |  |  |
| 2,000 % due 08/03/2023 |  | 17 000 | 17 409 |
| Goldman Sachs Group, Inc. |  |  |  |
| 0,085 % due 26/09/2023 |  | 15 900 | 15 962 |
| American International Group, Inc. |  |  |  |
| 1,500 % due 08/06/2023 |  | 15 300 | 15 833 |
| General Motors Financial Co., Inc. |  |  |  |
| 0,144 % due 10/05/2021 |  | 15 700 | 15 711 |
| Intesa Sanpaolo Bank Luxembourg S.A. |  |  |  |
| 0,215 % due 26/09/2021 |  | 15 400 | 15 369 |
| Aroundtown S.A. |  |  |  |
| 0,375 % due 23/09/2022 |  | 15 000 | 15 121 |
| LeasePlan Corp. NV |  |  |  |
| 1,000 % due 25/02/2022 |  | 14 700 | 14 922 |
| Stratton Mortgage Funding PLC |  |  |  |
| 0,000 % due 20/07/2060 | £ | 12 950 | 14 794 |
| Cars Alliance Auto Leases France |  |  |  |
| 0,148 % due 21/10/2036 | € | 14 400 | 14 598 |
| Fidelity National Information Services, Inc. |
| 0,125 % due 03/12/2022 |  | 14 500 | 14 573 |
| Barclays Bank PLC |  |  |  |
| 10,000 % due 21/05/2021 | £ | 12 350 | 14 521 |
| Barclays Bank PLC |  |  |  |
| 6,000 % due 14/01/2021 | € | 13 900 | 14 235 |
| Realkredit Danmark A/S |  |  |  |
| 1,000 % due 01/04/2022 | DKK | 98 200 | 13 461 |
| LeasePlan Corp. NV |  |  |  |
| 0,750 % due 03/10/2022 | € | 13 100 | 13 308 |
| Freddie Mac |  |  |  |
| 0,800 % due 28/10/2026 | $ | 15 500 | 13 100 |
| Legal & General Group PLC |  |  |  |
| 10,000 % due 23/07/2041 | £ | 10 700 | 12 910 |
| Obligation internationale du gouvernement israélien |
| 5,500 % due 31/01/2022 | ILS | 47 700 | 12 754 |
| Freddie Mac |  |  |  |
| 0,650 % due 27/10/2025 | $ | 14 400 | 12 287 |
| Stratton Mortgage Funding PLC |  |  |  |
| 0,000 % due 25/09/2051 | £ | 10 700 | 12 090 |
| Avon Finance No. 2 PLC |  |  |  |
| 0,949 % due 20/09/2048 |  | 11 100 | 12 010 |

Les variations significatives du portefeuille sont définies comme la valeur des acquisitions supérieures à 1 % du coût total des achats, et la valeur des ventes supérieures à 1 % du total des produits. Les 20 principaux achats et les 20 principales ventes au moins doivent être présentés. Si moins de 20 de ces opérations sont dénombrées, elles sont toutes divulguées.
Les contrats de mise en pension, qui peuvent être utilisés pour des liquidités non investies du Fonds et qui arrivent généralement à échéance le jour ouvrable suivant, et les titres détenus jusqu’à échéance, qui sont arrivés à échéance pendant l’exercice, sont exclus des Variations significatives du portefeuille.
| DESCRIPTION | VALEUR NOMINALE (milliers) | FRAIS (milliers) |
| --- | --- | --- |
| ACHATS JUSQU’AU 31 MARS 2021	 |  |  |  |
| Bon du trésor britannique |  |  |  |
| 3,750 % due 07/09/2021 | £ | 13 700 | £ 14 146 |
| Italy Buoni Poliennali Del Tesoro |  |  |  |
| 0,950 % due 01/03/2023 | € | 4 700 | 4 287 |
| HSBC Holdings PLC |  |  |  |
| 2,175 % due 27/06/2023 | £ | 3 700 | 3 781 |
| Deutsche Pfandbriefbank AG |  |  |  |
| 1,500 % due 16/12/2021 |  | 2 900 | 2 937 |
| Wells Fargo & Co. |  |  |  |
| 1,375 % due 30/06/2022 |  | 2 500 | 2 531 |
| Bayerische Landesbank |  |  |  |
| 1,250 % due 20/12/2021 |  | 2 500 | 2 527 |
| HSBC Holdings PLC |  |  |  |
| 0,162 % due 27/09/2022 | € | 2 600 | 2 370 |
| Medtronic Global Holdings S.C.A. |  |  |  |
| 0,000 % due 15/03/2023 |  | 2 300 | 2 104 |
| Imperial Brands Finance PLC |  |  |  |
| 9,000 % due 17/02/2022 | £ | 1 800 | 1 979 |
| Toronto-Dominion Bank |  |  |  |
| 1,000 % due 13/12/2021 |  | 1 900 | 1 910 |
| BAE Systems PLC |  |  |  |
| 4,125 % due 08/06/2022 |  | 1 800 | 1 884 |
| Credit Suisse Group Funding Guernsey Ltd. |
| 1,250 % due 14/04/2022 | € | 2 000 | 1 857 |
| SSE PLC |  |  |  |
| 5,875 % due 22/09/2022 | £ | 1 700 | 1 849 |
| BP Capital Markets PLC |  |  |  |
| 1,177 % due 12/08/2023 |  | 1 800 | 1 841 |
| SC Germany S.A., Compartment Consumer |  |  |  |
| 0,142 % due 14/11/2034 | € | 2 000 | 1 833 |
| Trinity Square PLC |  |  |  |
| 0,000 % due 15/07/2059 | £ | 1 700 | 1 700 |
| Banque d’investissement européenne |  |  |  |
| 0,329 % due 10/01/2022 |  | 1 600 | 1 604 |
| LVMH Moet Hennessy Louis Vuitton SE |  |  |  |
| 1,000 % due 14/06/2022 |  | 1 560 | 1 574 |
| Western Power Distribution East Midlands PLC |
| 5,250 % due 17/01/2023 |  | 1 400 | 1 559 |
| BPCE S.A. |  |  |  |
| 2,125 % due 16/12/2022 |  | 1 500 | 1 556 |
| Banque Fédérative du Crédit Mutuel S.A. |  |  |  |
| 1,875 % due 13/12/2022 |  | 1 500 | 1 554 |
| LeasePlan Corp. NV |  |  |  |
| 0,750 % due 03/10/2022 | € | 1 700 | 1 549 |
| Severn Trent Utilities Finance PLC |  |  |  |
| 1,625 % due 04/12/2022 | £ | 1 500 | 1 540 |
| Deutsche Telekom International Finance BV |
| 6,500 % due 08/04/2022 |  | 1 400 | 1 539 |
| Freddie Mac |  |  |  |
| 0,700 % due 19/08/2025 | $ | 2 000 | 1 528 |
| BMW Finance NV |  |  |  |
| 0,875 % due 16/08/2022 | £ | 1 500 | 1 512 |
| BMW Finance NV |  |  |  |
| 0,125 % due 13/07/2022 | € | 1 600 | 1 467 |
| Daimler Canada Finance, Inc. |  |  |  |
| 0,160 % due 11/09/2022 |  | 1 600 | 1 464 |
| Obligation internationale du gouvernement israélien |
| 0,000 % due 22/07/2022 |  | 1 600 | 1 457 |
| Fidelity National Information Services, Inc. |  |  |  |
| 1,700 % due 30/06/2022 | £ | 1 400 | 1 427 |
| LeasePlan Corp. NV |  |  |  |
| 1,000 % due 25/02/2022 | € | 1 500 | 1 370 |
| Silver Arrow S.A. |  |  |  |
| 0,145 % due 20/11/2030 |  | 1 500 | 1 364 |
| Cardiff Auto Receivables Securitisation PLC |
| 0,679 % due 16/09/2025 | £ | 1 330 | 1 332 |

| DESCRIPTION | VALEUR NOMINALE (milliers) | PRODUITS (milliers) |
| --- | --- | --- |
| VENTES JUSQU’AU 31 MARS 2021	 |  |  |  |
| Bon du trésor britannique |  |  |  |
| 3,750 % due 07/09/2021 | £ | 13 700 | £ 14 006 |
| Italy Buoni Poliennali Del Tesoro |  |  |  |
| 0,950 % due 01/03/2023 | € | 4 700 | 4 267 |
| Jubilee CLO BV |  |  |  |
| 0,295 % due 07/12/2028 |  | 4 000 | 3 405 |
| Royal Bank of Canada |  |  |  |
| 0,346 % due 08/06/2021 | £ | 3 100 | 3 100 |
| Santander UK PLC |  |  |  |
| 0,254 % due 13/04/2021 |  | 2 900 | 2 900 |
| Towd Point Mortgage Funding PLC |  |  |  |
| 1,058 % due 20/10/2051 |  | 2 909 | 2 897 |
| TSB Bank PLC |  |  |  |
| 0,420 % due 07/12/2022 |  | 2 900 | 2 878 |
| Leeds Building Society |  |  |  |
| 4,875 % due 16/11/2020 |  | 2 800 | 2 859 |
| Santander UK PLC |  |  |  |
| 1,625 % due 10/05/2021 |  | 2 400 | 2 417 |
| Residential Mortgage Securities PLC |  |  |  |
| 0,884 % due 20/03/2050 |  | 2 253 | 2 241 |
| Medtronic Global Holdings S.C.A. |  |  |  |
| 0,000 % due 15/03/2023 | € | 2 300 | 2 056 |
| Australia & New Zealand Banking Group Ltd. |
| 0,729 % due 24/01/2022 | £ | 2 000 | 2 007 |
| Lanark Master Issuer PLC |  |  |  |
| 0,880 % due 22/12/2069 |  | 1 957 | 1 958 |
| NatWest Markets PLC |  |  |  |
| 0,072 % due 01/03/2021 | € | 2 100 | 1 890 |
| BP Capital Markets PLC |  |  |  |
| 1,177 % due 12/08/2023 | £ | 1 800 | 1 837 |
| Takeda Pharmaceutical Co. Ltd. |  |  |  |
| 0,557 % due 21/11/2022 | € | 2 100 | 1 834 |
| SC Germany S.A., Compartment Consumer |  |  |  |
| 0,142 % due 14/11/2034 |  | 2 000 | 1 812 |
| Société Générale S.A. |  |  |  |
| 0,000 % due 27/05/2022 |  | 2 000 | 1 719 |
| Citigroup, Inc. |  |  |  |
| 1,375 % due 27/10/2021 |  | 1 800 | 1 663 |
| Morgan Stanley |  |  |  |
| 0,157 % due 08/11/2022 |  | 1 900 | 1 650 |
| Auto ABS UK Loans |  |  |  |
| 1,371 % due 27/11/2027 | £ | 1 600 | 1 582 |
| LVMH Moet Hennessy Louis Vuitton SE |  |  |  |
| 1,000 % due 14/06/2022 |  | 1 560 | 1 571 |
| Banque Fédérative du Crédit Mutuel S.A. |  |  |  |
| 1,875 % due 31/12/2022 |  | 1 500 | 1 548 |
| Bank of America Corp. |  |  |  |
| 6,125 % due 15/09/2021 |  | 1 500 | 1 542 |
| Deutsche Telekom International Finance BV |
| 6,500 % due 08/04/2022 |  | 1 400 | 1 499 |
| Freddie Mac |  |  |  |
| 0,700 % due 19/08/2025 | $ | 2 000 | 1 499 |
| HSBC Holdings PLC |  |  |  |
| 0,162 % due 27/09/2022 | € | 1 600 | 1 458 |
| Nationale-Nederlanden Bank NV |  |  |  |
| 0,036 % due 11/12/2020 |  | 1 600 | 1 450 |
| National Australia Bank Ltd. |  |  |  |
| 1,125 % due 10/11/2021 | £ | 1 400 | 1 411 |
| UBS Group AG |  |  |  |
| 0,160 % due 20/09/2022 | € | 1 500 | 1 366 |
| Silver Arrow S.A. |  |  |  |
| 0,145 % due 20/11/2030 |  | 1 500 | 1 355 |
| Deutsche Hypothekenbank AG |  |  |  |
| 0,297 % due 22/03/2021 | £ | 1 300 | 1 301 |
| Canadian Imperial Bank of Commerce |  |  |  |
| 0,529 % due 28/10/2022 |  | 1 300 | 1 295 |
| Schaeffler Finance BV |  |  |  |
| 3,250 % due 15/05/2025 | € | 1 400 | 1 292 |
| American Honda Finance Corp. |  |  |  |
| 0,644 % due 15/02/2022 | $ | 1 600 | 1 290 |
| Chevy Chase Funding LLC Mortgage-Backed Certificates |
| 0,000 % due 16/01/2057 | £ | 1 282 | 1 270 |

Les variations significatives du portefeuille sont définies comme la valeur des acquisitions supérieures à 1 % du coût total des achats, et la valeur des ventes supérieures à 1 % du total des produits. Les 20 principaux achats et les 20 principales ventes au moins doivent être présentés. Si moins de 20 de ces opérations sont dénombrées, elles sont toutes divulguées.
Les contrats de mise en pension, qui peuvent être utilisés pour des liquidités non investies du Fonds et qui arrivent généralement à échéance le jour ouvrable suivant, et les titres détenus jusqu’à échéance, qui sont arrivés à échéance pendant l’exercice, sont exclus des Variations significatives du portefeuille.
| DESCRIPTION | VALEUR NOMINALE (milliers) | FRAIS (milliers) |
| --- | --- | --- |
| ACHATS JUSQU’AU 31 MARS 2021	 |  |  |  |
| Federal Home Loan Bank |  |  |  |
| 0,960 % due 05/03/2026 | $ | 60 500 | $ 60 500 |
| Freddie Mac |  |  |  |
| 0,800 % due 30/07/2025 |  | 54 830 | 54 830 |
| Freddie Mac |  |  |  |
| 0,900 % due 28/05/2025 |  | 50 070 | 50 060 |
| Freddie Mac |  |  |  |
| 0,700 % due 02/09/2025 |  | 44 000 | 44 000 |
| Freddie Mac |  |  |  |
| 0,690 % due 05/08/2025 |  | 42 900 | 42 900 |
| Federal Home Loan Bank |  |  |  |
| 0,750 % due 24/02/2026 |  | 42 000 | 42 000 |
| Freddie Mac |  |  |  |
| 0,800 % due 28/10/2026 |  | 42 000 | 41 994 |
| Federal Home Loan Bank |  |  |  |
| 0,830 % due 10/02/2027 |  | 41 500 | 41 500 |
| Federal Home Loan Bank |  |  |  |
| 0,650 % due 26/02/2026 |  | 40 300 | 40 296 |
| Freddie Mac |  |  |  |
| 0,770 % due 15/07/2025 |  | 40 000 | 40 000 |
| Freddie Mac |  |  |  |
| 0,700 % due 19/08/2025 |  | 39 600 | 39 600 |
| Fannie Mae |  |  |  |
| 0,875 % due 18/12/2026 |  | 39 000 | 39 000 |
| Freddie Mac |  |  |  |
| 0,650 % due 27/10/2025 |  | 36 000 | 36 000 |
| Freddie Mac |  |  |  |
| 1,200 % due 17/04/2025 |  | 35 000 | 35 000 |
| Freddie Mac |  |  |  |
| 0,650 % due 22/10/2025 |  | 35 000 | 35 000 |
| Freddie Mac |  |  |  |
| 0,700 % due 19/08/2025 |  | 34 350 | 34 347 |
| Landeskreditbank Baden-Wuerttemberg Foerderbank |
| 0,448 % due 15/03/2022 |  | 34 000 | 34 023 |
| Freddie Mac |  |  |  |
| 0,900 % due 30/06/2025 |  | 33 000 | 33 000 |
| Credit Suisse AG |  |  |  |
| 0,412 % due 02/02/2024 |  | 30 000 | 30 000 |
| Freddie Mac |  |  |  |
| 0,800 % due 27/10/2026 |  | 29 650 | 29 646 |
| Federal Home Loan Bank |  |  |  |
| 0,790 % due 25/02/2026 |  | 28 300 | 28 293 |
| Banque internationale pour la reconstruction et le développement |
| 0,650 % due 10/02/2026 |  | 28 200 | 28 200 |
| Freddie Mac |  |  |  |
| 0,750 % due 28/07/2025 |  | 28 200 | 28 200 |

| DESCRIPTION | VALEUR NOMINALE (milliers) | PRODUITS (milliers) |
| --- | --- | --- |
| VENTES JUSQU’AU 31 MARS 2021	 |  |  |  |
| Freddie Mac |  |  |  |
| 0,700 % due 19/08/2025 | $ | 39 600 | $ 39 603 |
| Freddie Mac |  |  |  |
| 1,875 % due 05/03/2025 |  | 39 000 | 39 011 |
| Freddie Mac |  |  |  |
| 2,000 % due 11/02/2025 |  | 28 000 | 28 034 |
| Freddie Mac |  |  |  |
| 1,200 % due 17/04/2025 |  | 25 000 | 25 003 |
| Freddie Mac |  |  |  |
| 0,900 % due 06/05/2025 |  | 23 200 | 23 204 |
| Banco Santander Chile |  |  |  |
| 1,791 % due 25/07/2020 |  | 22 800 | 22 857 |
| Freddie Mac |  |  |  |
| 1,970 % due 06/02/2025 |  | 22 000 | 22 001 |
| Freddie Mac |  |  |  |
| 0,700 % due 18/08/2025 |  | 22 000 | 22 001 |
| Bank of Nova Scotia |  |  |  |
| 0,560 % due 15/09/2023 |  | 19 500 | 19 648 |
| Canadian Imperial Bank of Commerce |  |  |  |
| 0,810 % due 17/03/2023 |  | 16 700 | 16 807 |
| Gilead Sciences, Inc. |  |  |  |
| 0,713 % due 29/09/2023 |  | 13 900 | 13 939 |
| Intercontinental Exchange, Inc. |  |  |  |
| 0,834 % due 15/06/2023 |  | 10 224 | 10 254 |
| Ginnie Mae |  |  |  |
| 1,223 % due 20/01/2050 |  | 9 508 | 9 586 |
| Federal Home Loan Bank |  |  |  |
| 2,000 % due 20/02/2025 |  | 9 500 | 9 501 |
| Occidental Petroleum Corp. |  |  |  |
| 1,163 % due 08/02/2021 |  | 11 586 | 9 385 |
| Credit Suisse AG |  |  |  |
| 1,000 % due 05/05/2023 |  | 8 500 | 8 624 |
| Nationwide Building Society |  |  |  |
| 2,000 % due 27/01/2023 |  | 8 000 | 8 264 |
| Freddie Mac |  |  |  |
| 0,750 % due 21/07/2025 |  | 8 000 | 8 001 |
| Mizuho Financial Group, Inc. |  |  |  |
| 1,057 % due 11/09/2022 |  | 6 500 | 6 558 |
| Freddie Mac |  |  |  |
| 0,900 % due 28/05/2025 |  | 6 000 | 6 001 |
| Bank of Nova Scotia |  |  |  |
| 1,950 % due 01/02/2023 |  | 5 000 | 5 073 |
| Cooperatieve Rabobank UA |  |  |  |
| 0,335 % due 12/01/2024 |  | 5 000 | 5 009 |
| Freddie Mac |  |  |  |
| 0,700 % due 08/12/2025 |  | 5 000 | 5 001 |
| Mizuho Financial Group, Inc. |  |  |  |
| 1,034 % due 13/09/2023 |  | 4 300 | 4 340 |

Les variations significatives du portefeuille sont définies comme la valeur des acquisitions supérieures à 1 % du coût total des achats, et la valeur des ventes supérieures à 1 % du total des produits. Les 20 principaux achats et les
20 principales ventes au moins doivent être présentés. Si moins de 20 de ces opérations sont dénombrées, elles sont toutes divulguées.
Les contrats de mise en pension, qui peuvent être utilisés pour des liquidités non investies du Fonds et qui arrivent généralement à échéance le jour ouvrable suivant, et les titres détenus jusqu’à échéance, qui sont arrivés à échéance pendant l’exercice, sont exclus des Variations significatives du portefeuille.
| DESCRIPTION | VALEUR NOMINALE (milliers) | FRAIS (milliers) |
| --- | --- | --- |
| ACHATS JUSQU’AU 31 MARS 2021	 |  |  |  |
| Billets du Trésor américain |  |  |  |
| 1,500 % due 15/08/2026 | $ | 7 500 | $ 8 009 |
| Titres du Trésor américain protégés contre l’inflation |
| 0,125 % due 15/04/2025 (a) |  | 6 597 | 6 799 |
| Billets du Trésor américain |  |  |  |
| 0,250 % due 31/05/2025 |  | 4 000 | 3 957 |
| Billets du Trésor américain |  |  |  |
| 1,750 % due 31/12/2024 |  | 2 700 | 2 877 |
| Bank of America Corp. |  |  |  |
| 1,319 % due 19/06/2026 |  | 1 700 | 1 700 |
| American Tower Corp. |  |  |  |
| 1,300 % due 15/09/2025 |  | 1 300 | 1 296 |
| Westinghouse Air Brake Technologies Corp. |
| 3,200 % due 15/06/2025 |  | 1 100 | 1 138 |
| IHS Markit Ltd. |  |  |  |
| 5,000 % due 01/11/2022 |  | 1 000 | 1 077 |
| 7-Eleven, Inc. |  |  |  |
| 0,625 % due 10/02/2023 |  | 900 | 899 |
| FirstEnergy Corp. |  |  |  |
| 1,600 % due 15/01/2026 |  | 900 | 899 |
| East Ohio Gas Co. |  |  |  |
| 1,300 % due 15/06/2025 |  | 800 | 799 |
| Metropolitan Life Global Funding |  |  |  |
| 0,900 % due 08/06/2023 |  | 800 | 799 |
| Golub Capital BDC, Inc. |  |  |  |
| 2,500 % due 24/08/2026 |  | 800 | 798 |
| Volkswagen Financial Services NV |  |  |  |
| 0,875 % due 20/02/2025 | £ | 500 | 679 |
| Georgia-Pacific LLC |  |  |  |
| 0,625 % due 15/05/2024 | $ | 600 | 601 |
| Protective Life Global Funding |  |  |  |
| 1,170 % due 15/07/2025 |  | 600 | 600 |
| NTT Finance Corp. |  |  |  |
| 0,583 % due 01/03/2024 |  | 600 | 600 |
| Entergy Louisiana LLC |  |  |  |
| 0,620 % due 17/11/2023 |  | 600 | 600 |
| Oracle Corp. |  |  |  |
| 1,650 % due 25/03/2026 |  | 600 | 600 |
| Banco Bilbao Vizcaya Argentaria S.A. |  |  |  |
| 0,875 % due 18/09/2023 |  | 600 | 599 |
| DAE Funding LLC |  |  |  |
| 1,625 % due 15/02/2024 |  | 600 | 595 |
| Nissan Motor Co. Ltd. |  |  |  |
| 1,940 % due 15/09/2023 | € | 500 | 592 |

| DESCRIPTION | VALEUR NOMINALE (milliers) | PRODUITS (milliers) |
| --- | --- | --- |
| VENTES JUSQU’AU 31 MARS 2021	 |  |  |  |
| Billets du Trésor américain |  |  |  |
| 1,125 % due 28/02/2025 | $ | 13 200 | $ 13 729 |
| Billets du Trésor américain |  |  |  |
| 1,500 % due 15/08/2026 |  | 7 500 | 7 882 |
| Billets du Trésor américain |  |  |  |
| 1,750 % due 31/12/2024 |  | 5 400 | 5 752 |
| Titres du Trésor américain protégés contre l’inflation |
| 0,625 % due 15/04/2023 (a) |  | 4 094 | 4 361 |
| Billets du Trésor américain |  |  |  |
| 0,250 % due 31/05/2025 |  | 3 500 | 3 435 |
| D.R. Horton, Inc. |  |  |  |
| 4,375 % due 15/09/2022 |  | 1 600 | 1 682 |
| American Tower Corp. |  |  |  |
| 1,300 % due 15/09/2025 |  | 1 300 | 1 318 |
| Flex Ltd. |  |  |  |
| 4,750 % due 15/06/2025 |  | 1 200 | 1 280 |
| Cooperatieve Rabobank UA |  |  |  |
| 1,111 % due 26/09/2023 |  | 1 100 | 1 096 |
| AerCap Ireland Capital DAC |  |  |  |
| 4,450 % due 03/04/2026 |  | 1 100 | 1 048 |
| Lloyds Banking Group PLC |  |  |  |
| 2,907 % due 07/11/2023 |  | 1 000 | 1 041 |
| Danske Bank A/S |  |  |  |
| 1,280 % due 12/09/2023 |  | 1 000 | 942 |
| FirstEnergy Corp. |  |  |  |
| 1,600 % due 15/01/2026 |  | 900 | 906 |
| 7-Eleven, Inc. |  |  |  |
| 0,625 % due 10/02/2023 |  | 900 | 902 |
| Imperial Brands Finance PLC |  |  |  |
| 3,125 % due 26/07/2024 |  | 900 | 892 |
| Dell International LLC |  |  |  |
| 4,000 % due 15/07/2024 |  | 800 | 880 |
| Park Aerospace Holdings Ltd. |  |  |  |
| 5,250 % due 15/08/2022 |  | 900 | 824 |
| East Ohio Gas Co. |  |  |  |
| 1,300 % due 15/06/2025 |  | 800 | 816 |
| Metropolitan Life Global Funding |  |  |  |
| 0,900 % due 08/06/2023 |  | 800 | 809 |
| United Airlines Pass-Through Trust |  |  |  |
| 3,100 % due 07/01/2030 |  | 842 | 800 |
| Air Canada Pass-Through Trust |  |  |  |
| 3,750 % due 15/06/2029 |  | 807 | 773 |
| CVS Health Corp. |  |  |  |
| 3,625 % due 01/02/2027 |  | 700 | 765 |

(a) Le montant du principal du titre est ajusté sur l’inflation.
Les variations significatives du portefeuille sont définies comme la valeur des acquisitions supérieures à 1 % du coût total des achats, et la valeur des ventes supérieures à 1 % du total des produits. Les 20 principaux achats et les
20 principales ventes au moins doivent être présentés. Si moins de 20 de ces opérations sont dénombrées, elles sont toutes divulguées.
Les contrats de mise en pension, qui peuvent être utilisés pour des liquidités non investies du Fonds et qui arrivent généralement à échéance le jour ouvrable suivant, et les titres détenus jusqu’à échéance, qui sont arrivés à échéance pendant l’exercice, sont exclus des Variations significatives du portefeuille.
| DESCRIPTION | VALEUR NOMINALE (milliers) | FRAIS (milliers) |
| --- | --- | --- |
| ACHATS JUSQU’AU 31 MARS 2021	 |  |  |  |
| Caesars Entertainment, Inc. |  |  |  |
| 6,250 % due 01/07/2025 | $ | 23 918 | $ 25 245 |
| Delta Air Lines, Inc. |  |  |  |
| 2,900 % due 28/10/2024 |  | 16 280 | 14 807 |
| U.S. Foods, Inc. |  |  |  |
| 6,250 % due 15/04/2025 |  | 11 750 | 12 544 |
| Deutsche Bank AG |  |  |  |
| 4,500 % due 01/04/2025 |  | 10 800 | 11 340 |
| Change Healthcare Holdings LLC |  |  |  |
| 5,750 % due 01/03/2025 |  | 10 950 | 11 258 |
| Ford Motor Co. |  |  |  |
| 9,000 % due 22/04/2025 |  | 9 800 | 11 208 |
| Carnival Corp. |  |  |  |
| 11,500 % due 01/04/2023 |  | 10 250 | 11 162 |
| Tempo Acquisition LLC |  |  |  |
| 6,750 % due 01/06/2025 |  | 10 200 | 10 447 |
| Beacon Roofing Supply, Inc. |  |  |  |
| 4,875 % due 01/11/2025 |  | 10 100 | 10 289 |
| KAR Auction Services, Inc. |  |  |  |
| 5,125 % due 01/06/2025 |  | 9 600 | 9 832 |
| Macy’s, Inc. |  |  |  |
| 8,375 % due 15/06/2025 |  | 8 750 | 9 233 |
| TransDigm, Inc. |  |  |  |
| 6,500 % due 15/05/2025 |  | 9 150 | 9 090 |
| Royal Caribbean Cruises Ltd. |  |  |  |
| 10,875 % due 01/06/2023 |  | 8 420 | 9 035 |
| Hilton Domestic Operating Co., Inc. |  |  |  |
| 5,375 % due 01/05/2025 |  | 8 520 | 8 871 |
| Bausch Health Cos., Inc. |  |  |  |
| 6,125 % due 15/04/2025 |  | 8 649 | 8 861 |
| Occidental Petroleum Corp. |  |  |  |
| 2,900 % due 15/08/2024 |  | 10 420 | 8 376 |
| Freeport-McMoRan, Inc. |  |  |  |
| 4,550 % due 14/11/2024 |  | 7 500 | 8 209 |
| Ford Motor Co. |  |  |  |
| 8,500 % due 21/04/2023 |  | 7 600 | 8 137 |
| AMC Networks, Inc. |  |  |  |
| 4,750 % due 01/08/2025 |  | 7 600 | 7 877 |
| Sprint Corp. |  |  |  |
| 7,125 % due 15/06/2024 |  | 6 750 | 7 768 |
| Occidental Petroleum Corp. |  |  |  |
| 2,700 % due 15/08/2022 |  | 8 100 | 7 625 |
| Station Casinos LLC |  |  |  |
| 5,000 % due 01/10/2025 |  | 7 500 | 7 622 |

| DESCRIPTION | VALEUR NOMINALE (milliers) | PRODUITS (milliers) |
| --- | --- | --- |
| VENTES JUSQU’AU 31 MARS 2021	 |  |  |  |
| Ascent Resources Utica Holdings LLC |  |  |  |
| 10,000 % due 01/04/2022 | $ | 7 464 | $ 7 389 |
| Denbury, Inc. |  |  |  |
| 9,000 % due 15/05/2021 |  | 7 469 | 3 716 |
| Hertz Corp. |  |  |  |
| 7,625 % due 01/06/2022 |  | 1 965 | 1 729 |
| Washington Prime Group LP |  |  |  |
| 6,450 % due 15/08/2024 |  | 2 289 | 1 641 |
| Valaris PLC (8,000 % en PIK) |  |  |  |
| 8,000 % due 17/08/2021 |  | 1 205 | 1 205 |
| Sprint Corp. |  |  |  |
| 7,875 % due 15/09/2023 |  | 1 050 | 1 194 |
| HCA, Inc. |  |  |  |
| 5,875 % due 01/05/2023 |  | 1 050 | 1 137 |
| Party City Holdings, Inc. |  |  |  |
| 6,125 % due 15/08/2023 |  | 5 970 | 1 015 |
| Gulfport Energy Corp. |  |  |  |
| 6,625 % due 01/05/2023 |  | 1 501 | 976 |
| Ford Motor Co. |  |  |  |
| 8,500 % due 21/04/2023 |  | 800 | 890 |
| Whiting Petroleum Corp. |  |  |  |
| 5,750 % due 15/03/2021 |  | 4 643 | 798 |
| U.S. Foods, Inc. |  |  |  |
| 6,250 % due 15/04/2025 |  | 750 | 798 |
| ACTIONS |
| Jersey Newco |  | 15 437 | 760 |
| VALEUR NOMINALE (milliers) |
| EQM Midstream Partners LP |  |  |  |
| 4,750 % due 15/07/2023 | $ | 720 | 745 |
| Carnival Corp. |  |  |  |
| 11,500 % due 01/04/2023 |  | 650 | 744 |
| Vericast Corp. |  |  |  |
| 8,375 % due 15/08/2022 |  | 720 | 729 |
| Ford Motor Credit Co. LLC |  |  |  |
| 5,584 % due 18/03/2024 |  | 640 | 688 |
| Yum! Brands, Inc. |  |  |  |
| 3,875 % due 01/11/2023 |  | 640 | 672 |
| Xerox Holdings Corp. |  |  |  |
| 5,000 % due 15/08/2025 |  | 640 | 672 |
| Wynn Las Vegas LLC |  |  |  |
| 4,250 % due 30/05/2023 |  | 640 | 648 |
| iStar, Inc. |  |  |  |
| 4,750 % due 01/10/2024 |  | 610 | 622 |

Les variations significatives du portefeuille sont définies comme la valeur des acquisitions supérieures à 1 % du coût total des achats, et la valeur des ventes supérieures à 1 % du total des produits. Les 20 principaux achats et les 20 principales ventes au moins doivent être présentés. Si moins de 20 de ces opérations sont dénombrées, elles sont toutes divulguées.
Les contrats de mise en pension, qui peuvent être utilisés pour des liquidités non investies du Fonds et qui arrivent généralement à échéance le jour ouvrable suivant, et les titres détenus jusqu’à échéance, qui sont arrivés à échéance pendant l’exercice, sont exclus des Variations significatives du portefeuille.

### Taux de rotation du portefeuille
Le présent rapport a été préparé pour étayer les informations communiquées aux investisseurs institutionnels dans le cadre de la Directive sur les droits des actionnaires II (SRD II). La durée pendant laquelle un Fonds a détenu un titre donné
n’est généralement pas prise en compte lors des décisions d’investissement. Une modification apportée aux titres détenus par un Fonds est appelée « rotation de portefeuille ». Pour atteindre son objectif d’investissement, chaque Fonds peut procéder à des transactions fréquentes et actives de titres de portefeuille, en particulier dans des périodes de fluctuations volatiles du marché. Un taux de rotation élevé du portefeuille
est susceptible d’impliquer des frais de transaction correspondants supérieurs pour le Fonds, notamment des commissions de courtage ou de négociation et autres frais de transaction sur la vente de titres et les réinvestissements dans d’autres titres. De telles ventes peuvent entraîner la réalisation de plus-values imposables, notamment des plus-values à court terme (qui sont généralement imposées aux taux de l’impôt sur le revenu habituel lorsqu’elles sont distribuées aux actionnaires). Les frais de transaction associés à la rotation du portefeuille peuvent avoir un impact négatif sur la performance d’un Fonds.
Le taux de rotation du portefeuille pour les exercices clos le 31 mars 2021 et le 31 mars 2020 de chaque Fonds est le suivant :
| Nom du Fonds |  | Taux de rotation du portefeuille 2021 | Taux de rotation du portefeuille 2020 |
| --- | --- | --- | --- |
| Fonds PIMCO Covered Bond UCITS ETF |  | 308 % | 1 124 % |
| Fonds PIMCO Emerging Markets Advantage Local 	Bond Index UCITS ETF	 |  | 154 % | 78 % |
| Fonds PIMCO Euro Low Duration Corporate Bond 	UCITS ETF	 |  | 43 % | 82 % |
| Fonds PIMCO Euro Short-Term High Yield Corporate 	Bond Index UCITS ETF	 |  | 39 % | 63 % |
| Fonds PIMCO Euro Short Maturity UCITS ETF |  | 66 % | 37 % |
| Fonds PIMCO Sterling Short Maturity UCITS ETF |  | 112 % | 25 % |
| Fonds PIMCO US Dollar Short Maturity UCITS ETF |  | 64 % | 83 % |
| Fonds PIMCO US Low Duration Corporate Bond 	UCITS ETF	 |  | 63 % | 157 % |
| Fonds PIMCO US Short-Term High Yield Corporate 	Bond Index UCITS ETF	 |  | 50 % | 54 % |

| Abréviations des contreparties : |
| --- |
| AZD | Australia and New Zealand Banking Group | GLM | Goldman Sachs Bank USA | RBC | Royal Bank of Canada |
| BOA | Bank of America N.A. | GRE | RBS Securities, Inc. | RCY | Royal Bank of Canada |
| BPS | BNP Paribas S.A. | GST | Goldman Sachs International | RYL | Royal Bank of Scotland Group PLC |
| BRC | Barclays Bank PLC | HUS | HSBC Bank USA N.A. | SCX | Standard Chartered Bank |
| CBK | Citibank N.A. | IND | Crédit Agricole Corporate and Investment | SOG | Société Générale |
| CFR | Credit Suisse Securities (Europe) Ltd. |  | Bank S.A. | SSB | State Street Bank and Trust Co. |
| COM | Commerzbank AG | JML | JP Morgan Securities Plc | TDM | TD Securities (USA) LLC |
| DUB | Deutsche Bank AG | JPM | JP Morgan Chase Bank N.A. | TOR | Toronto Dominion Bank |
| FAR | Wells Fargo Bank National Association | JPS | JP Morgan Securities, Inc. | UAG | UBS AG Stamford |
| FBF | Credit Suisse International | MYC | Morgan Stanley Capital Services, Inc. |  |  |
| FICC | Fixed Income Clearing Corporation | MYI | Morgan Stanley & Co. International PLC |  |  |

| Abréviations des devises : |
| --- |
| ARS | Peso argentin | DKK | Couronne danoise | PHP | Peso philippin |
| AUD | Dollar australien | DOP | Peso dominicain | PLN | Zloty polonais |
| BRL | Réal brésilien | EUR (ou €) | Euro | RUB | Rouble russe |
| CAD | Dollar canadien | GBP (ou £) | Livre sterling | SEK | Couronne suédoise |
| CHF | Franc suisse | IDR | Roupie indonésienne | SGD | Dollar de Singapour |
| CLP | Peso chilien | ILS | Shekel israélien | THB | Baht thaïlandais |
| CNH | Renminbi chinois (offshore) | INR | Roupie indienne | TRY | Nouvelle Lire turque |
| CNY | Renminbi chinois (continental) | JPY (ou ¥) | Yen japonais | USD (ou $) | Dollar américain |
| COP | Peso colombien | MXN | Peso mexicain | ZAR | Rand sud-africain |
| CZK | Couronne tchèque | MYR | Ringgit malaisien |  |  |

Abréviations boursières :
OTC  Over the Counter - hors cote
| Abréviations des indices/spreads |
| --- |
| CDX.HY | Indice des dérivés du crédit - haut rendement  CMBX	Indice Commercial Mortgage-Backed Index	CNREPOFIX	La Chine a fixé les taux repo à 7 jours |
| CDX.IG | Indice des dérivés du crédit - « investment grade » |

| Autres abréviations : |
| --- |
| ABS | Asset-Backed Security (Titre adossé à des actifs) | EURIBOR LIBOR | Euro Interbank Offered Rate London Interbank Offered Rate | RMBS | Residential Mortgage-Backed Security (Titre adossé à des crédits hypothécaires) |
| BTP | Buoni del Tesoro Poliennali | OAT | Obligations Assimilables du Trésor | TBA | To-Be-Announced (Sera annoncé) |
| CLO | Collateralised Loan Obligation | PIK | Payment-in-Kind | TIIE | Tasa de Interés Interbancaria de Equilibrio |
| DAC | Designated Activity Company |  |  |  | « Equilibrium Interbank Interest Rate » |

(Taux d’intérêt d’équilibre interbancaire)

#### GESTIONNAIRE
PIMCO Global Advisors (Ireland) Limited, 78 Sir John Rogerson’s Quay,
Dublin 2, D02 HD32,
Irlande.

#### CONSEILLERS EN INVESTISSEMENT
Pacific Investment Management Company LLC,
650 Newport Center Drive, Newport Beach, California 92660, États-Unis.
PIMCO Europe Ltd., 11 Baker Street, Londres W1U 3AH, Royaume-Uni.
PIMCO Europe GmbH, Seidlstraße 24-24a, 80335 Munich, Allemagne.

#### AGENT ADMINISTRATIF
State Street Fund Services (Ireland) Limited, 78 Sir John Rogerson’s Quay,
Dublin 2, D02 HD32,
Irlande.

#### DÉPOSITAIRE
State Street Custodial Services (Ireland) Limited,
78 Sir John Rogerson’s Quay, Dublin 2,
D02 HD32,
Irlande.

#### DISTRIBUTEUR
PIMCO Europe Ltd., 11 Baker Street, Londres W1U 3AH, Royaume-Uni.

#### REPRÉSENTANT AU ROYAUME-UNI
PIMCO Europe Ltd., 11 Baker Street, Londres W1U 3AH, Angleterre.

#### CO-PROMOTEURS
PIMCO Europe Ltd., 11 Baker Street, Londres W1U 3AH, Angleterre.
(Jusqu’au 11 juin 2020) Invesco UK Services Limited, Perpetual Park,
Perpetual Park Drive, Henley-on-Thames, Oxfordshire, RG9 1HH Angleterre.

#### AGENT PAYEUR EN AUTRICHE
UniCredit Bank Austria AG, AMG/9991,
Am Hof 2,
1010 Vienne, Autriche.

#### AGENT PAYEUR INTERNATIONAL
Citibank, N.A., London Branch, Citigroup Centre,
Canada Square, Canary Wharf, Londres E14 5LB, Angleterre.

#### AGENT DE PAIEMENT ET
D’INFORMATION EN ALLEMAGNE
Marcard, Stein & Co. AG, Ballindamm 36,
20095 Hambourg, Allemagne.

#### AGENT CENTRALISATEUR ET AGENT FINANCIER EN FRANCE
Société Générale Securities Services, 3, rue d’Antin,
75002 Paris, France.

#### AGENT PAYEUR ET REPRÉSENTANT AU LUXEMBOURG
BNP Paribas Securities Services, 23, avenue de la Porte-Neuve,
L-2085, Luxembourg.

#### AGENT PAYEUR ET REPRÉSENTANT EN SUISSE
BNP Paribas Securities Services, Paris, succursale de Zurich, Selnaustrasse 16,
8002 Zurich, Suisse.

#### AGENT PAYEUR EN SUÈDE
SEB Merchant Banking, Sergels Torg 2,
SE-106 40,
Stockholm, Suède.

#### CONSEILLERS JURIDIQUES POUR LE DROIT IRLANDAIS
Dillon Eustace,
33 Sir John Rogerson’s Quay, Dublin 2, D02 XK09,
Irlande.

#### COMMISSAIRES AUX COMPTES
(À partir du 28 janvier 2021) Grant Thornton,
13-18 City Quay,
Dublin 2, D02 ED70,
Irlande.
(Jusqu’au 28 janvier 2021) PricewaterhouseCoopers,
Chartered Accountants and Statutory Audit Firm,
One Spencer Dock, North Wall Quay, Dublin 2, D01 X9R7, Irlande.

#### SECRÉTAIRE
State Street Fund Services (Ireland) Limited, 78 Sir John Rogerson’s Quay,
Dublin 2, D02 HD32,
Irlande.

#### SIÈGE SOCIAL
PIMCO ETFs plc,
78 Sir John Rogerson’s Quay, Dublin 2, D02 HD32,
Irlande.

#### ADMINISTRATEURS DE LA SOCIÉTÉ ET GESTIONNAIRE
V. Mangala Ananthanarayanan
1 
(Inde) Ryan P. Blute
1 
(États-Unis)
John Bruton (Administrateur indépendant) (Irlande)
Craig A. Dawson
1 
(États-Unis) David M. Kennedy (Administrateur indépendant) (Irlande)
Frances Ruane (Administratrice indépendante) (Irlande)
Le Prospectus, les suppléments au Prospectus, l’Acte constitutif et les Statuts, les rapports annuels et semestriels sont disponibles gratuitement auprès des bureaux du représentant ou de l’agent de chaque juridiction. Les Actionnaires peuvent obtenir gratuitement une copie des changements apportés au portefeuille au cours de l’exercice clos le 31 mars 2021 auprès des bureaux de l’Agent administratif ou des agents payeurs, ainsi que de l’agent payeur et d’information en Allemagne et du bureau du représentant en Suisse.
1	
Employé par PIMCO.
PIMCO Europe Ltd (société immatriculée sous le n° 2604517) et PIMCO Europe Ltd — Italie (société immatriculée sous le
n° 07533910969) sont autorisées et réglementées par la Financial Conduct Authority (12 Endeavour Square, Londres, E20 1JN) au Royaume-Uni. La succursale italienne est en outre réglementée par la Commissione Nazionale per le Società e la Borsa (CONSOB) conformément à l’article 27 de la loi financière consolidée italienne. Les services de PIMCO Europe Ltd ne sont proposés qu’aux clients professionnels tel que défini dans le Manuel de la Financial Conduct Authority et ne sont pas disponibles pour les investisseurs particuliers, auxquels nous recommandons de ne pas se fonder sur cette communication.
PIMCO Europe GmbH (société immatriculée sous le n° 192083, Seidlstr. 24-24a, 80335 Munich, Allemagne), PIMCO Europe GmbH Italian Branch (société immatriculée sous le n° 10005170963) et PIMCO Europe GmbH Spanish Branch (N.I.F. W2765338E) sont autorisées et réglementées par l’Autorité fédérale allemande de surveillance financière (BaFin) (Marie-Curie-Str 24-28, 60439 Francfort-sur-le-Main) en Allemagne conformément à la Section 32 de la Loi bancaire allemande (KWG). La succursale italienne et la succursale espagnole sont en outre surveillées par la Commissione Nazionale per le Società e la Borsa (CONSOB) conformément à l’article 27 de la Loi financière consolidée italienne et par la Comisión Nacional del Mercado de Valores (CNMV), conformément aux obligations prévues aux articles 168 et 203 à 224, ainsi qu’aux obligations contenues dans la section I du titre V de la loi sur le marché des valeurs mobilières (LSM) et dans les articles 111, 114 et 117 du décret royal 217/2008, respectivement. Les services fournis par PIMCO Europe GmbH ne sont disponibles qu’aux clients professionnels tel que stipulé au paragraphe 2 de l’article 67 de la Loi allemande relative à la négociation de titres (WpHG). Ils ne sont pas disponibles pour les investisseurs particuliers, auxquels nous recommandons de ne pas se fier à cette communication.
PIMCO (Schweiz) GmbH (immatriculée en Suisse sous le n° CH-020.4.038.582-2), Brandschenkestrasse 41, 8002 Zurich, Suisse, Tél. : + 41 44 512 49 10. Les services fournis par PIMCO (Schweiz) GmbH ne sont pas disponibles pour les investisseurs particuliers, que nous invitons à ne pas se fonder sur cette communication et à prendre contact avec leur conseiller financier.