Pimco Flexible Credit Income Fund
Data through 2026-07-02 · latest filing N-23C3A filed 2026-07-02
Sponsored by PIMCO. Interval Fund structure focused on private credit.
Interval FundPrivate Credit
- Net assets
- $4.24B
source
Monthly portfolio report (Form N-PORT) · filed 2026-05-29 · period 2026-03-31
Net assets (N-PORT Part B, Item B.2)
Method Direct: read from a structured filing field
Open the filing on SEC.gov · Full observation history
Technical locator
as of 2026-03-31 - NAV / share
- $7.11
source
Semiannual shareholder report (Form N-CSRS) · filed 2026-03-05 · period 2025-12-31
Consolidated Statement of Assets and Liabilities, PFLEX's own per-class block (identified as the largest-total-assets SAL in the bundled filing -- same block extract_pflex_leverage's accounting-identity reconciliation gate already verified): 'Net Asset Value Per Share Outstanding (a) : Institutional Class $ 7.11' (Class A-1 through A-4 disclose the identical value in this filing)
Method Matched text template against the filing
Open the filing on SEC.gov · Full observation history
Technical locator
Filed fund value · as of 2025-12-31 - Net flows, last qtr
- +6.4% qtr ended 2026-03-31
- Distribution coverage (NII)
- Pending Pending
- Leverage in use
- Pending debt / equity 0.45x
- Total return, 12m
- Pending SEC-filed periodic NAV + distributions
What changed in the latest filings.
Current findings ordered by severity. Each observation remains traceable to its filed source.
No current red or yellow flags in filings reviewed through 2026-07-31.
Historical findings (6)
Redemptions prorated for the period ending 2023-08-09: 7.2% requested, only 94.1% of requests fulfilled. (2023-08-09)
Net outflow of 5.2% of NAV in the period ended 2023-11-30.
Net outflow of 5.3% of NAV in the period ended 2023-08-31.
Redemptions accelerated to $203.9M from $122.7M the prior period (period ended 2022-11-30).
Net outflow of 5.4% of NAV in the period ended 2022-11-30.
Net outflow of 5.3% of NAV in the period ended 2020-11-30.
How the fund has moved.
Net asset value, total return, capital flows, and distribution coverage across the filing record.
Filed performance
Pending. no cached SEC filing yielded a return with an exact window, basis label, and the audited class scope
Monthly performance eligibility
Canonical class: Institutional Class · basis: no qualifying monthly chain · qualifying history: 0 months.
What moved inside the book.
Filed portfolio-health facts and position changes. Missing disclosures stay visibly missing.
Pending
Where exit demand met the cap.
Stated cap: 5% of shares/quarter. Rationed in 1 of 3 disclosed periods; last gated Q3 2023.
| Period | Requested | Filled | Cap used | Status |
|---|---|---|---|---|
| 2025-08-07 | Pending | 100% | Pending | filled |
| 2024-08-07 | Pending | 100% | Pending | filled |
| 2023-08-09 | Pending | 94% | 100% | rationed |
How the balance sheet is funded.
Borrowings, unused capacity, and synthetic exposure are separated so unlike risks do not collapse into one ratio.
| Borrowing source | Amount |
|---|---|
| Reverse repurchase agreements (repo borrowing) | $1,852,599,000 |
| Total borrowings | $1,852,599,000 |
Synthetic exposure: gross notional $1,397,000 (0.0% of net assets), as of 2026-03-31. Audit
How to read these financing entries
How the offering is divided.
A filed share-class breakdown and terms-based role descriptions. This is not an estimate of who owns the fund.
Not attributed 100.0%
| Class | Terms-based role description | Load | Servicing | Minimum | Assets |
|---|---|---|---|---|---|
| Institutional Class | Pending | Pending | Pending | Pending | Pending |
Management fee: 1.75% of average daily net assets (contractual ceiling; payable fee is the lesser-of formula) per year, current as of 2025-12-31. SEC source 0001193125-26-094229.
Canonical-class fee profile
| Class | Management | Incentive | Load | Servicing | Gross expenses | Net expenses |
|---|---|---|---|---|---|---|
| Institutional Class | 1.75% | None
*
None. The standardized prospectus fee table contains no incentive/performance-fee line. SEC source 0001193125-25-249009 |
Pending | Pending | 5.12%interest included*Filed label: Expenses Excluding Waivers; period 2025-06-30. expenses before/excluding waivers; waiver state: before / excluding disclosed support. SEC source 0001193125-25-196888 *Filed label: Expenses Excluding Interest Expense and Waivers; period 2025-06-30. expenses before/excluding waivers; waiver state: before / excluding disclosed support. SEC source 0001193125-25-196888 |
5.12%interest included*Filed label: Expenses; period 2025-06-30. After waiver: not separately stated; interest: included; tax: not separately stated; incentive compensation: not separately stated; acquired-fund expenses: not separately stated. SEC source 0001193125-25-196888 *Filed label: Expenses Excluding Interest Expense; period 2025-06-30. After waiver: not separately stated; interest: excluded; tax: not separately stated; incentive compensation: not separately stated; acquired-fund expenses: not separately stated. SEC source 0001193125-25-196888 |
| Fee component | Rate | Basis / class | Condition |
|---|---|---|---|
| Management · formula leg | 1.30% | the Fund’s average daily “total managed assets” (as defined below) | lesser of |
| Management · formula leg | 1.75% | the Fund’s average daily net assets (excluding daily net assets attributable to any preferred shares of the Fund that may be outstanding) | lesser of |
Expense-ratio caution. These are the issuer’s filed figures for the designated analysis class. They are not placed in a fee ranking because denominators and included expenses are not yet normalized across funds. Hover or click * for the filed label, period, components, and SEC source.
The evidence beneath the page.
Filed terms and recent documents remain available without crowding the primary research flow.
Term register (1)
| Term | Description | Value | Effective |
|---|---|---|---|
| advisory_fee_schedule | (3) Pursuant to an investment management agreement between the Manager and the Fund (the “Investment Management Agreement”), the Fund has agreed to pay to PIMCO an annual fee, payable monthly, in an amount equal to the lesser of (i) 1.30% of the Fund’s average daily “total managed assets” (as defined below) and (ii) 1.75% of the Fund’s average daily net assets (excluding daily net assets attributable to any preferred shares of the Fund that may be outstanding). | Text disclosure | 2025-04-01 |
Recent filings
| Filed | Form | Accession |
|---|---|---|
| 2026-07-02 | N-23C3A | 0001193125-26-293846 |
| 2026-05-29 | NPORT-P | 0001099263-26-007343 |
| 2026-04-01 | N-23C3A | 0001193125-26-136758 |
| 2026-03-05 | N-CSRS | 0001193125-26-094229 |
| 2026-03-02 | NPORT-P | 0001099263-26-003116 |
| 2026-01-02 | N-23C3A | 0001193125-26-000731 |
| 2025-11-26 | NPORT-P | 0001099263-25-004580 |
| 2025-10-24 | 486BPOS | 0001193125-25-249009 |
| 2025-10-06 | N-23C3A | 0001193125-25-231398 |
| 2025-09-05 | N-CSR | 0001193125-25-196888 |
| 2025-08-29 | NPORT-P | 0001688554-25-000032 |
| 2025-07-07 | N-23C3A | 0001193125-25-156047 |
| 2025-05-30 | NPORT-P | 0001688554-25-000020 |
| 2025-04-07 | N-23C3A | 0001193125-25-074359 |
| 2025-03-06 | N-CSRS | 0001193125-25-047448 |