In plain terms — PIMCO Strategic Income Fund
Shares currently cost about 14.6% more than the value of the assets behind them (a premium).
Over the past year it has averaged a 24.3% premium, so today's level is not wide for this fund (Z-score -0.7). That describes the past; it does not predict where the discount goes next.
It pays regular distributions worth about 9.7% a year of the share price (11.1% of the assets). That is a payout rate, not a return: part of it may be capital being handed back.
Because the shares trade above the value of their assets, each dollar of reinvested distributions buys about $0.87 of assets — a ReinvestCapture™ rate of 8.5%, less than the payout rate itself. That is buying power, not a return.
The assets themselves grew 3.8% over the past year including distributions (NAV total return).
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Price and NAV, past year
Snapshot
Valuation vs. history
| Window | Average prem/disc | Std. dev. | Z-score | Observations |
|---|---|---|---|---|
| 3 months | +14.28% | 1.65% | +1.02 | 55 |
| 6 months | +16.57% | 2.94% | -0.20 | 108 |
| 1 year | +24.31% | 12.15% | -0.69 | 206 |
| 3 years | +39.98% | — | — | — |
| 5 years | +29.99% | — | — | — |
Current contemporaneous premium/discount +15.97% (close Oct 14, 2026 vs NAV Oct 13, 2026). 1-year range +10.36% to +58.87%. A negative Z-score means a wider discount than the window average — not that the fund is undervalued.
Performance
| Series | 1M | 3M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) |
|---|---|---|---|---|---|---|
| Market price return | 0.00% | -6.84% | -12.03% | -34.40% | -1.90% | -7.99% |
| Market price total return | +0.80% | -4.64% | -5.30% | -28.56% | +6.84% | +1.19% |
| NAV return | -2.70% | -5.47% | -8.28% | -6.49% | +2.17% | -7.51% |
| NAV total return | -1.80% | -2.89% | +0.12% | +3.83% | +15.04% | +4.55% |
Through Oct 14, 2026. Total return reinvests distributions at the series value on the ex-date. Cumulative ≤ 1 year, annualised beyond.
About the fund
PIMCO Strategic Global Government Fund, Inc. is a closed-ended fixed income mutual fund launched and managed by Allianz Global Investors Fund Management LLC. The fund is co-managed by Pacific Investment Management Company LLC. It invests in fixed income markets across the globe. The fund primarily invests in government securities, including bonds issued or guaranteed by the United States or foreign governments, by their agencies, authorities or instrumentalities, or by supranational entities. It employs fundamental analysis with a focus on top down stock picking approach to create its portfolio. PIMCO Strategic Global Government Fund, Inc. was formed on February 24, 1994 and is domiciled in the United States.
CEF Explorer research page for PIMCO Strategic Income Fund, Inc.. Figures carry their own dates and sources; a discount to NAV does not guarantee convergence or any return. This is not investment advice.