PIMCO REALPATH® Blend 2070 Fund
Summary Prospectus
October 30, 2026
| Share Class: |
Inst |
A |
| Ticker: |
PAJDX |
PAJEX |
Before you invest, you may want to review the Fund’s prospectus, which, as supplemented, contains more information about the Fund and its risks. You can find the Fund’s prospectus, reports to shareholders and other information about the Fund online at
http://investments.pimco.com/prospectuses. You can also get this information at
no cost by calling 888.87.PIMCO or by sending an email request to piprocess@sscinc.com. The Fund’s prospectus and Statement of Additional Information, both dated October 30, 2026, as supplemented, are incorporated by reference into this Summary Prospectus.
Investment Objective
The Fund seeks to maximize total return, consistent with prudent investment
management.
Fees and Expenses of the
Fund
This table describes the fees and expenses that you may pay
if you buy, hold and sell shares of the Fund. You may pay other fees, such as
brokerage commissions and other fees to financial
intermediaries, which are not reflected in the tables and
examples below. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in Class A
shares of eligible funds offered by PIMCO Equity Series and PIMCO Funds. More information about
these and other discounts is available in the “Classes of Shares” section on page
97 of the Fund’s
prospectus, Appendix B to the Fund’s prospectus (Financial Firm-Specific Sales Charge
Waivers and Discounts) or from your financial professional.
Shareholder Fees (fees paid directly from your investment):
| |
Inst
Class |
Class A |
| Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of
offering price) |
None |
5.50% |
| Maximum Deferred Sales Charge (Load) (as a percentage of the lower of the
original purchase price or redemption price)
|
None |
1.00% |
Annual Fund Operating Expenses (expenses that you pay each year as a
percentage of the value of your investment):
| |
Inst
Class |
Class A |
| Management Fees |
0.05% |
0.25% |
| Distribution and/or Service (12b-1) Fees |
N/A |
0.25% |
| Acquired Fund Fees and Expenses(1) |
0.09% |
0.09% |
| Total Annual Fund Operating Expenses(2) |
0.14% |
0.59% |
1
Acquired Fund Fees and Expenses include interest expense of the Underlying PIMCO
Funds of 0.03%. Interest expense can result from certain transactions within the Underlying PIMCO
Funds and is separate from the management fees paid to Pacific Investment Management Company LLC (“PIMCO”). Excluding interest expense of the Underlying PIMCO Funds, Total Annual Fund Operating Expenses are 0.11% and 0.56% for Institutional Class and
Class A shares, respectively.
2
Total Annual Fund Operating Expenses do not match the Ratio of Expenses to Average
Net Assets of the Fund, as set forth in the Financial Highlights table of the Fund’s
prospectus, because
the Ratio of Expenses to Average Net Assets reflects the operating expenses of the Fund and does not include Acquired Fund Fees and Expenses.
Example. The Example is intended to help you compare the cost of investing in Institutional Class or Class A shares of the Fund with the costs of investing in other mutual
funds. The Example assumes that you invest $10,000 in the noted class of shares for the time periods indicated, and then hold or redeem all your shares at the end of those periods. The Example also assumes that
your investment has a 5% return each year and that the Fund’s operating expenses remain the
same. Although your actual costs may be higher or lower, based on these assumptions your costs
would be:
If you redeem your shares at the end of
each period:
| |
1 Year |
3 Years |
5 Years |
10 Years |
| Institutional Class |
$15 |
$45 |
$79 |
$179 |
| Class A |
$607 |
$729 |
$861 |
$1,247 |
If you do not redeem your shares:
| |
1 Year |
3 Years |
5 Years |
10 Years |
| Class A |
$607 |
$729 |
$861 |
$1,247 |
Portfolio Turnover
The Fund pays transaction costs when it buys and sells securities (or “turns over” its portfolio).
A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in the Annual Fund Operating
Expenses or in the Example tables, affect the Fund’s performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 42% of the average value of its portfolio.
Principal Investment Strategies
The PIMCO REALPATH® Blend 2070 Fund (the “Fund”) is intended for investors seeking professional management of a comprehensive asset allocation strategy for retirement savings.
The Fund is managed for shareholders that plan to retire or begin withdrawing assets around the
year 2070, the Fund’s target year. This is the “self-elected” year of retirement for the investors in the Fund. The primary difference between the PIMCO REALPATH® Blend Funds is their asset allocation, which varies depending on the number of years left until the “self-elected” year of retirement indicated
in the PIMCO REALPATH® Blend Fund’s name. The Fund’s allocation is intended to meaningfully reduce risk and increasingly focus on
preservation of capital as the target retirement date of the Fund nears. An investment in the Fund is not guaranteed, and you may experience losses, including losses near, at, or after the target year indicated in the
Fund’s name. There is no guarantee that the Fund will provide adequate income at and through your retirement.
In managing the Fund, PIMCO uses a three-step approach consisting of 1) developing and re-evaluating a
long-term asset allocation “glide path”; 2) allocating between fixed income and equity exposures; and 3) utilizing hedging techniques to manage risks.
PIMCO Equity Series | Summary Prospectus
