UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT
INVESTMENT COMPANIES
Investment Company Act file number 811-10385
Pacific Funds
(Exact name of registrant as specified in charter)
700 Newport Center Drive, P.O. Box 7500, Newport Beach, CA 92660
(Address of principal executive offices)
Robin S. Yonis
Vice President and Investment Counsel of
Pacific Life Insurance Company
700 Newport Center Drive
Post Office Box 9000
Newport Beach, CA 92660
(Name and address of agent for service)
Copies to:
Jeffrey S. Puretz, Esq.
Dechert LLP
1775 I Street, N.W.
Washington D.C. 20006-2401
Registrant’s telephone number, including area code: (949) 219-6767
Date of fiscal year end: March 31
Date of reporting period: April 1, 2006 – September 30, 2006
Form N-CSR is to be used by management investment companies to file reports with the Commission not later than 10 days after the transmission to stockholders of any report that is required to be transmitted to stockholders under Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1). The Commission may use the information provided on Form N-CSR in its regulatory, disclosure review, inspection, and policymaking roles.
A registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-CSR unless the Form displays a currently valid Office of Management and Budget (“OMB”) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.
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Item 1. | Reports to Stockholders. |
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| The following is a copy of the report transmitted to stockholders pursuant to Rule 30e-1 under the Act (17 CFR 270.30e-1). |
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TABLE OF CONTENTS |
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PACIFIC FUNDS |
|
A-1 | |
Financial Statements: |
|
B-1 | |
B-7 | |
B-10 | |
C-1 | |
D-1 | |
E-1 | |
E-4 | |
E-8 | |
E-9 |
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PACIFIC FUNDS |
PF PORTFOLIO OPTIMIZATION MODEL A |
September 30, 2006 (Unaudited) |
|
|
|
|
|
|
|
|
|
| Shares |
| Value |
| ||
|
|
|
| ||||
MUTUAL FUNDS - 100.12% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PF AllianceBernstein International Value Fund ‘A’ |
|
| 49,404 |
| $ | 753,909 |
|
PF Goldman Sachs Short Duration Bond Fund ‘A’ |
|
| 714,970 |
|
| 7,006,709 |
|
PF Janus Growth LT Fund ‘A’ * |
|
| 42,059 |
|
| 513,541 |
|
PF Lazard Mid-Cap Value Fund ‘A’ * |
|
| 48,488 |
|
| 512,029 |
|
PF Loomis Sayles Large-Cap Growth Fund ‘A’ * |
|
| 58,116 |
|
| 516,067 |
|
PF MFS International Large-Cap Fund ‘A’ |
|
| 31,616 |
|
| 504,283 |
|
PF Oppenheimer Main Street® Core Fund ‘A’ |
|
| 141,646 |
|
| 1,532,607 |
|
PF PIMCO Managed Bond Fund ‘A’ |
|
| 646,113 |
|
| 6,545,128 |
|
PF PIMCO Inflation Managed Fund ‘A’ |
|
| 393,639 |
|
| 3,999,372 |
|
PF Pacific Life Money Market Fund ‘A’ |
|
| 1,999,028 |
|
| 1,999,028 |
|
PF Salomon Brothers Large-Cap Value Fund ‘A’ |
|
| 41,372 |
|
| 510,532 |
|
PF Van Kampen Comstock Fund ‘A’ |
|
| 57,315 |
|
| 768,588 |
|
|
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|
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| ||
|
|
|
|
|
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Total Mutual Funds |
|
|
|
|
|
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|
(Cost $24,572,798) |
|
|
|
|
| 25,161,793 |
|
|
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| |||||||
TOTAL INVESTMENTS - 100.12% |
|
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|
(Cost $24,572,798) |
|
|
|
|
| 25,161,793 |
|
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|
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|
OTHER ASSETS & LIABILITIES, NET - (0.12%) |
|
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|
|
| (30,561 | ) |
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| ||
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|
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NET ASSETS - 100.00% |
|
|
|
| $ | 25,131,232 |
|
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|
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| |||||||
Note to Schedule of Investments |
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(a) As of September 30, 2006, the Fund was diversified as a percentage of net assets as follows:
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|
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Affiliated Fixed Income Funds |
|
|
|
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| 69.84 | % |
Affiliated Equity Funds |
|
|
|
|
| 22.33 | % |
Affiliated Money Market Fund |
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|
|
|
| 7.95 | % |
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|
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|
|
|
|
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| 100.12 | % |
Other Assets & Liabilities, Net |
|
|
|
|
| (0.12 | )% |
|
|
|
|
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| ||
|
|
|
|
|
| 100.00 | % |
|
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|
|
|
|
|
PACIFIC FUNDS |
PF PORTFOLIO OPTIMIZATION MODEL B |
Schedule of Investments |
September 30, 2006 (Unaudited) |
|
|
|
|
|
|
|
|
|
| Shares |
| Value |
| ||
|
|
|
| ||||
MUTUAL FUNDS - 99.59% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PF AllianceBernstein International Value Fund ‘A’ |
|
| 264,792 |
| $ | 4,040,725 |
|
PF Goldman Sachs Short Duration Bond Fund ‘A’ |
|
| 1,162,812 |
|
| 11,395,557 |
|
PF Janus Growth LT Fund ‘A’ * |
|
| 168,957 |
|
| 2,062,970 |
|
PF Lazard Mid-Cap Value Fund ‘A’ * |
|
| 324,715 |
|
| 3,428,989 |
|
PF Loomis Sayles Large-Cap Growth Fund ‘A’ * |
|
| 155,631 |
|
| 1,382,007 |
|
PF MFS International Large-Cap Fund ‘A’ |
|
| 253,666 |
|
| 4,045,977 |
|
PF NB Fasciano Small Equity Fund ‘A’ * |
|
| 130,241 |
|
| 1,340,177 |
|
PF Oppenheimer Main Street Core Fund ‘A’ |
|
| 442,671 |
|
| 4,789,700 |
|
PF PIMCO Managed Bond Fund ‘A’ |
|
| 1,331,308 |
|
| 13,486,148 |
|
PF PIMCO Inflation Managed Fund ‘A’ |
|
| 922,695 |
|
| 9,374,585 |
|
PF Pacific Life Money Market Fund ‘A’ |
|
| 2,677,810 |
|
| 2,677,811 |
|
PF Salomon Brothers Large-Cap Value Fund ‘A’ |
|
| 221,750 |
|
| 2,736,391 |
|
PF Van Kampen Comstock Fund ‘A’ |
|
| 358,235 |
|
| 4,803,929 |
|
PF Van Kampen Mid-Cap Growth Fund ‘A’ * |
|
| 204,133 |
|
| 2,055,621 |
|
|
|
|
|
|
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Total Mutual Funds |
|
|
|
|
|
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|
(Cost $64,493,521) |
|
|
|
|
| 67,620,587 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
TOTAL INVESTMENTS - 99.59% |
|
|
|
|
|
|
|
(Cost $64,493,521) |
|
|
|
|
| 67,620,587 |
|
|
|
|
|
|
|
|
|
OTHER ASSETS & LIABILITIES, NET - 0.41% |
|
|
|
|
| 276,933 |
|
|
|
|
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| ||
|
|
|
|
|
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NET ASSETS - 100.00% |
|
|
|
| $ | 67,897,520 |
|
|
|
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| ||
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Note to Schedule of Investments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a) As of September 30, 2006, the Fund was diversified as a percentage of net assets as follows: | |||||||
|
|
|
|
|
|
|
|
Affiliated Fixed Income Funds |
|
|
|
|
| 50.45 | % |
Affiliated Equity Funds |
|
|
|
|
| 45.20 | % |
Affiliated Money Market Fund |
|
|
|
|
| 3.94 | % |
|
|
|
|
|
| ||
|
|
|
|
|
| 99.59 | % |
Other Assets & Liabilities, Net |
|
|
|
|
| 0.41 | % |
|
|
|
|
|
| ||
|
|
|
|
|
| 100.00 | % |
|
|
|
|
|
|
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|
See Notes to Financial Statements | See explanation of symbols and terms, if any, on page A-38 |
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|
A-1 |
|
PACIFIC FUNDS |
PF PORTFOLIO OPTIMIZATION MODEL C |
Schedule of Investments |
September 30, 2006 (Unaudited) |
|
|
|
|
|
|
|
|
|
| Shares |
| Value |
| ||
|
|
|
| ||||
|
|
|
|
|
|
|
|
MUTUAL FUNDS - 99.55% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PF AllianceBernstein International Value Fund ‘A’ |
|
| 989,398 |
| $ | 15,098,219 |
|
PF Goldman Sachs Short Duration Bond Fund ‘A’ |
|
| 2,550,754 |
|
| 24,997,388 |
|
PF Janus Growth LT Fund ‘A’ * |
|
| 1,051,822 |
|
| 12,842,743 |
|
PF Lazard Mid-Cap Value Fund ‘A’ * |
|
| 1,698,025 |
|
| 17,931,144 |
|
PF Loomis Sayles Large-Cap Growth Fund ‘A’ * |
|
| 871,197 |
|
| 7,736,233 |
|
PF MFS International Large-Cap Fund ‘A’ |
|
| 948,202 |
|
| 15,123,818 |
|
PF NB Fasciano Small Equity Fund ‘A’ * |
|
| 728,397 |
|
| 7,495,201 |
|
PF Oppenheimer Main Street Core Fund ‘A’ |
|
| 1,887,392 |
|
| 20,421,587 |
|
PF Oppenheimer Emerging Markets Fund ‘A’ |
|
| 919,114 |
|
| 10,192,973 |
|
PF PIMCO Managed Bond Fund ‘A’ |
|
| 3,477,797 |
|
| 35,230,082 |
|
PF PIMCO Inflation Managed Fund ‘A’ |
|
| 2,951,058 |
|
| 29,982,752 |
|
PF Salomon Brothers Large-Cap Value Fund ‘A’ |
|
| 1,033,777 |
|
| 12,756,807 |
|
PF Van Kampen Comstock Fund ‘A’ |
|
| 1,528,285 |
|
| 20,494,304 |
|
PF Van Kampen Mid-Cap Growth Fund ‘A’ * |
|
| 1,521,856 |
|
| 15,325,089 |
|
PF Van Kampen Real Estate Fund ‘A’ |
|
| 560,965 |
|
| 7,741,321 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
Total Mutual Funds |
|
|
|
|
|
|
|
(Cost $237,492,512) |
|
|
|
|
| 253,369,661 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
TOTAL INVESTMENTS - 99.55% |
|
|
|
|
|
|
|
(Cost $237,492,512) |
|
|
|
|
| 253,369,661 |
|
|
|
|
|
|
|
|
|
OTHER ASSETS & LIABILITIES, NET - 0.45% |
|
|
|
|
| 1,146,147 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
NET ASSETS - 100.00% |
|
|
|
| $ | 254,515,808 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
Note to Schedule of Investments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a) As of September 30, 2006, the Fund was diversified as a percentage of net assets as follows: | |||||||
|
|
|
|
|
|
|
|
Affiliated Equity Funds |
|
|
|
|
| 64.11 | % |
Affiliated Fixed Income Funds |
|
|
|
|
| 35.44 | % |
|
|
|
|
|
| ||
|
|
|
|
|
| 99.55 | % |
Other Assets & Liabilities, Net |
|
|
|
|
| 0.45 | % |
|
|
|
|
|
| ||
|
|
|
|
|
| 100.00 | % |
|
|
|
|
|
|
|
PACIFIC FUNDS |
PF PORTFOLIO OPTIMIZATION MODEL D |
Schedule of Investments |
September 30, 2006 (Unaudited) |
|
|
|
|
|
|
|
|
|
| Shares |
| Value |
| ||
|
|
|
| ||||
MUTUAL FUNDS - 99.39% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PF AllianceBernstein International Value Fund ‘A’ |
|
| 1,532,170 |
| $ | 23,380,909 |
|
PF Goldman Sachs Short Duration Bond Fund ‘A’ |
|
| 794,761 |
|
| 7,788,656 |
|
PF Janus Growth LT Fund ‘A’ * |
|
| 1,520,119 |
|
| 18,560,658 |
|
PF Lazard Mid-Cap Value Fund ‘A’ * |
|
| 2,003,800 |
|
| 21,160,131 |
|
PF Loomis Sayles Large-Cap Growth Fund ‘A’ * |
|
| 902,968 |
|
| 8,018,356 |
|
PF MFS International Large-Cap Fund ‘A’ |
|
| 1,465,625 |
|
| 23,376,716 |
|
PF NB Fasciano Small Equity Fund ‘A’ * |
|
| 1,257,004 |
|
| 12,934,574 |
|
PF Oppenheimer Main Street Core Fund ‘A’ |
|
| 2,446,309 |
|
| 26,469,068 |
|
PF Oppenheimer Emerging Markets Fund ‘A’ |
|
| 1,184,810 |
|
| 13,139,539 |
|
PF PIMCO Managed Bond Fund ‘A’ |
|
| 2,058,987 |
|
| 20,857,539 |
|
PF PIMCO Inflation Managed Fund ‘A’ |
|
| 1,784,471 |
|
| 18,130,224 |
|
PF Salomon Brothers Large-Cap Value Fund ‘A’ |
|
| 1,287,163 |
|
| 15,883,597 |
|
PF Van Kampen Comstock Fund ‘A’ |
|
| 1,778,853 |
|
| 23,854,415 |
|
PF Van Kampen Mid-Cap Growth Fund ‘A’ * |
|
| 1,845,959 |
|
| 18,588,810 |
|
PF Van Kampen Real Estate Fund ‘A’ |
|
| 772,136 |
|
| 10,655,479 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
Total Mutual Funds |
|
|
|
|
|
|
|
(Cost $242,182,959) |
|
|
|
|
| 262,798,671 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
TOTAL INVESTMENTS - 99.39% |
|
|
|
|
|
|
|
(Cost $242,182,959) |
|
|
|
|
| 262,798,671 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OTHER ASSETS & LIABILITIES, NET - 0.61% |
|
|
|
|
| 1,611,278 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
NET ASSETS - 100.00% |
|
|
|
| $ | 264,409,949 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
Note to Schedule of Investments |
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
(a) As of September 30, 2006, the Fund was diversified as a percentage of net assets as follows: | |||||||
|
|
|
|
|
|
|
|
Affiliated Equity Funds |
|
|
|
|
| 81.70 | % |
Affiliated Fixed Income Funds |
|
|
|
|
| 17.69 | % |
|
|
|
|
|
| ||
|
|
|
|
|
| 99.39 | % |
Other Assets & Liabilities, Net |
|
|
|
|
| 0.61 | % |
|
|
|
|
|
| ||
|
|
|
|
|
| 100.00 | % |
|
|
|
|
|
|
|
|
See Notes to Financial Statements | See explanation of symbols and terms, if any, on page A-38 |
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|
A-2 |
|
PACIFIC FUNDS |
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|
|
|
|
|
|
|
|
| Shares |
| Value |
| ||
|
|
|
| ||||
MUTUAL FUNDS - 99.32% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PF AllianceBernstein International Value Fund ‘A’ |
|
| 744,508 |
| $ | 11,361,195 |
|
PF Janus Growth LT Fund ‘A’ * |
|
| 862,374 |
|
| 10,529,586 |
|
PF Lazard Mid-Cap Value Fund ‘A’ * |
|
| 995,003 |
|
| 10,507,227 |
|
PF Loomis Sayles Large-Cap Growth Fund ‘A’ * |
|
| 360,484 |
|
| 3,201,098 |
|
PF MFS International Large-Cap Fund ‘A’ |
|
| 709,706 |
|
| 11,319,815 |
|
PF NB Fasciano Small Equity Fund ‘A’ * |
|
| 701,722 |
|
| 7,220,722 |
|
PF Oppenheimer Main Street Core Fund ‘A’ |
|
| 1,075,206 |
|
| 11,633,730 |
|
PF Oppenheimer Emerging Markets Fund ‘A’ |
|
| 563,758 |
|
| 6,252,073 |
|
PF Salomon Brothers Large-Cap Value Fund ‘A’ |
|
| 600,400 |
|
| 7,408,934 |
|
PF Van Kampen Comstock Fund ‘A’ |
|
| 787,277 |
|
| 10,557,385 |
|
PF Van Kampen Mid-Cap Growth Fund ‘A’ * |
|
| 951,317 |
|
| 9,579,762 |
|
PF Van Kampen Real Estate Fund ‘A’ |
|
| 383,242 |
|
| 5,288,736 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
Total Mutual Funds |
|
|
|
|
|
|
|
(Cost $94,394,368) |
|
|
|
|
| 104,860,263 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
TOTAL INVESTMENTS - 99.32% |
|
|
|
|
|
|
|
(Cost $94,394,368) |
|
|
|
|
| 104,860,263 |
|
|
|
|
|
|
|
|
|
OTHER ASSETS & LIABILITIES, NET - 0.68% |
|
|
|
|
| 714,050 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
NET ASSETS - 100.00% |
|
|
|
| $ | 105,574,313 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
Note to Schedule of Investments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a) As of September 30, 2006, the Fund was diversified as a percentage of net assets as follows: |
| ||||||
|
|
|
|
|
|
|
|
Affiliated Equity Funds |
|
|
|
|
| 99.32 | % |
|
|
|
|
|
| ||
|
|
|
|
|
| 99.32 | % |
Other Assets & Liabilities, Net |
|
|
|
|
| 0.68 | % |
|
|
|
|
|
| ||
|
|
|
|
|
| 100.00 | % |
|
|
|
|
|
|
|
|
See Notes to Financial Statements | See explanation of symbols and terms, if any, on page A-38 |
|
|
A-3 |
|
PACIFIC FUNDS |
|
|
|
|
|
|
|
|
|
| Shares |
| Value |
| ||
|
|
|
| ||||
COMMON STOCKS - 95.57% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Australia - 0.75% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Macquarie Airports + |
|
| 193,994 |
| $ | 443,547 |
|
|
|
|
|
|
| ||
Austria - 1.11% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OMV AG + |
|
| 7,246 |
|
| 375,743 |
|
voestalpine AG + |
|
| 6,800 |
|
| 281,122 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 656,865 |
|
|
|
|
|
|
| ||
Belgium - 1.73% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fortis + |
|
| 21,300 |
|
| 864,055 |
|
KBC Groep NV + |
|
| 1,527 |
|
| 160,741 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 1,024,796 |
|
|
|
|
|
|
| ||
Bermuda - 0.56% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Kerry Properties Ltd + |
|
| 43,243 |
|
| 158,133 |
|
Orient Overseas International Ltd + |
|
| 42,000 |
|
| 170,780 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 328,913 |
|
|
|
|
|
|
| ||
Canada - 4.53% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bombardier Inc ‘B’ * |
|
| 13,800 |
|
| 43,088 |
|
Canadian Natural Resources Ltd |
|
| 7,400 |
|
| 337,245 |
|
Celestica Inc * |
|
| 12,900 |
|
| 138,262 |
|
Gerdau Ameristeel Corp |
|
| 45,200 |
|
| 410,450 |
|
Husky Energy Inc |
|
| 4,000 |
|
| 257,517 |
|
ING Canada Inc |
|
| 6,100 |
|
| 304,195 |
|
IPSCO Inc |
|
| 4,308 |
|
| 373,431 |
|
Nexen Inc |
|
| 7,900 |
|
| 422,299 |
|
Teck Cominco Ltd ‘B’ |
|
| 6,300 |
|
| 394,543 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 2,681,030 |
|
|
|
|
|
|
| ||
Denmark - 0.95% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Carlsberg AS ‘B’ + |
|
| 6,650 |
|
| 558,921 |
|
|
|
|
|
|
| ||
Finland - 0.88% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nokia OYJ + |
|
| 10,900 |
|
| 214,718 |
|
Sampo OYJ ‘A’ + |
|
| 14,600 |
|
| 303,985 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 518,703 |
|
|
|
|
|
|
| ||
France - 11.75% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BNP Paribas + |
|
| 10,608 |
|
| 1,139,998 |
|
Compagnie Generale des Etablissements |
|
|
|
|
|
|
|
Michelin ‘B’ + |
|
| 5,725 |
|
| 419,484 |
|
Credit Agricole SA + |
|
| 18,875 |
|
| 827,586 |
|
Renault SA + |
|
| 10,894 |
|
| 1,247,818 |
|
Sanofi-Aventis + |
|
| 11,501 |
|
| 1,022,494 |
|
Societe Generale + |
|
| 5,942 |
|
| 944,019 |
|
Total SA + |
|
| 20,556 |
|
| 1,348,277 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 6,949,676 |
|
|
|
|
|
|
| ||
Germany - 10.61% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Allianz AG + |
|
| 3,410 |
|
| 588,840 |
|
Continental AG + |
|
| 9,349 |
|
| 1,082,254 |
|
DaimlerChrysler AG + |
|
| 5,000 |
|
| 249,325 |
|
Deutsche Lufthansa AG + |
|
| 33,900 |
|
| 716,644 |
|
E.ON AG + |
|
| 8,432 |
|
| 999,947 |
|
Epcos AG * + |
|
| 11,573 |
|
| 176,206 |
|
MAN AG + |
|
| 2,012 |
|
| 169,938 |
|
Muenchener Rueckversicherungs AG + |
|
| 6,461 |
|
| 1,019,598 |
|
RWE AG + |
|
| 9,113 |
|
| 839,467 |
|
TUI AG + |
|
| 20,980 |
|
| 432,893 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 6,275,112 |
|
|
|
|
|
|
| ||
Greece - 0.52% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Public Power Corp SA + |
|
| 12,800 |
|
| 308,087 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
Hong Kong - 0.66% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sino Land Co Ltd + |
|
| 219,300 |
|
| 387,821 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
Italy - 3.73% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Banco Popolare di Verona e Novara SPA + |
|
| 7,600 |
|
| 210,028 |
|
Buzzi Unicem SPA + |
|
| 12,000 |
|
| 283,854 |
|
ENI SPA + |
|
| 34,089 |
|
| 1,012,902 |
|
Fondiaria-Sai SPA + |
|
| 8,700 |
|
| 381,425 |
|
Fondiaria-Sai SPA RNC + |
|
| 4,600 |
|
| 151,676 |
|
Italcementi SPA + |
|
| 6,500 |
|
| 164,643 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 2,204,528 |
|
|
|
|
|
|
| ||
Japan - 26.48% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Alps Electric Co Ltd + |
|
| 27,500 |
|
| 287,776 |
|
Canon Inc + |
|
| 7,800 |
|
| 407,623 |
|
Cosmo Oil Co Ltd + |
|
| 26,000 |
|
| 107,464 |
|
Dainippon Ink & Chemicals Inc + |
|
| 124,000 |
|
| 452,063 |
|
East Japan Railway Co + |
|
| 41 |
|
| 286,778 |
|
EDION Corp + |
|
| 20,400 |
|
| 349,906 |
|
Hitachi Ltd + |
|
| 33,000 |
|
| 192,195 |
|
Honda Motor Co Ltd + |
|
| 16,400 |
|
| 551,159 |
|
Isuzu Motors Ltd + |
|
| 125,000 |
|
| 410,138 |
|
Itochu Corp + |
|
| 19,000 |
|
| 147,423 |
|
Japan Tobacco Inc + |
|
| 232 |
|
| 903,063 |
|
JFE Holdings Inc + |
|
| 27,900 |
|
| 1,094,357 |
|
Kobe Steel Ltd + |
|
| 142,000 |
|
| 446,244 |
|
Leopalace21 Corp + |
|
| 18,200 |
|
| 664,805 |
|
Mitsubishi Corp + |
|
| 13,400 |
|
| 252,400 |
|
Mitsubishi UFJ Financial Group Inc |
|
| 19 |
|
| 244,487 |
|
Mitsui & Co Ltd + |
|
| 37,000 |
|
| 471,578 |
|
Mitsui Chemicals Inc + |
|
| 42,000 |
|
| 302,505 |
|
Mitsui OSK Lines Ltd + |
|
| 94,000 |
|
| 696,076 |
|
Nippon Mining Holdings Inc + |
|
| 51,000 |
|
| 361,435 |
|
Nippon Telegraph & Telephone Corp + |
|
| 135 |
|
| 659,986 |
|
Nissan Motor Co Ltd + |
|
| 50,500 |
|
| 565,448 |
|
Oki Electric Industry Co Ltd + |
|
| 64,000 |
|
| 143,997 |
|
ORIX Corp + |
|
| 3,780 |
|
| 1,044,392 |
|
Rengo Co Ltd + |
|
| 19,000 |
|
| 126,455 |
|
Seiko Epson Corp + |
|
| 5,800 |
|
| 158,019 |
|
Sharp Corp + |
|
| 38,000 |
|
| 652,121 |
|
Sumitomo Heavy Industries Ltd + |
|
| 15,000 |
|
| 125,544 |
|
Sumitomo Metal Industries Ltd + |
|
| 13,000 |
|
| 49,897 |
|
Sumitomo Mitsui Financial Group Inc + |
|
| 107 |
|
| 1,123,593 |
|
The Tokyo Electric Power Co Inc + |
|
| 25,000 |
|
| 719,823 |
|
Tokyo Gas Co Ltd + |
|
| 106,000 |
|
| 531,551 |
|
Toyota Motor Corp + |
|
| 20,800 |
|
| 1,131,869 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 15,662,170 |
|
|
|
|
|
|
| ||
Luxembourg - 0.25% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SES GLOBAL SA FDR + |
|
| 9,980 |
|
| 149,764 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
Netherlands - 6.72% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ABN AMRO Holding NV + |
|
| 26,537 |
|
| 773,771 |
|
European Aeronautic Defence & Space Co NV + |
|
| 23,531 |
|
| 676,229 |
|
ING Groep NV CVA + |
|
| 36,421 |
|
| 1,600,576 |
|
Koninklijke Philips Electronics NV + |
|
| 8,316 |
|
| 291,071 |
|
Mittal Steel Co NV |
|
| 6,200 |
|
| 216,518 |
|
Wolters Kluwer NV + |
|
| 16,048 |
|
| 418,066 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 3,976,231 |
|
|
|
|
|
|
|
|
|
See Notes to Financial Statements | See explanation of symbols and terms, if any, on page A-38 |
|
|
A-4 |
|
PACIFIC FUNDS |
|
|
|
|
|
|
|
|
|
|
| Shares |
| Value |
| |||
|
|
|
| |||||
Singapore - 0.23% |
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
| |
Neptune Orient Lines Ltd + |
|
| 107,000 |
| $ | 136,304 |
| |
|
|
|
|
|
| |||
Spain - 1.56% |
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
| |
Repsol YPF SA + |
|
| 31,129 |
|
| 925,367 |
| |
|
|
|
|
|
| |||
Sweden - 0.42% |
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
| |
Svenska Cellulosa AB ‘B’ |
|
| 5,400 |
|
| 247,593 |
| |
|
|
|
|
|
| |||
Switzerland - 1.92% |
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
| |
Credit Suisse Group + |
|
| 16,879 |
|
| 976,044 |
| |
Novartis AG + |
|
| 2,727 |
|
| 159,102 |
| |
|
|
|
|
|
| |||
|
|
|
|
|
| 1,135,146 |
| |
|
|
|
|
|
| |||
United Kingdom - 20.21% |
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
| |
AstraZeneca PLC + |
|
| 11,522 |
|
| 719,644 |
| |
Aviva PLC + |
|
| 64,437 |
|
| 944,100 |
| |
BAE Systems PLC + |
|
| 93,326 |
|
| 690,219 |
| |
Barclays PLC + |
|
| 76,883 |
|
| 969,541 |
| |
BP PLC + |
|
| 47,998 |
|
| 524,729 |
| |
British American Tobacco PLC + |
|
| 10,250 |
|
| 277,225 |
| |
Corus Group PLC + |
|
| 18,600 |
|
| 135,175 |
| |
Friends Provident PLC + |
|
| 174,944 |
|
| 633,738 |
| |
Greene King PLC + |
|
| 23,320 |
|
| 394,224 |
| |
HBOS PLC + |
|
| 48,671 |
|
| 962,414 |
| |
International Power PLC + |
|
| 30,069 |
|
| 176,108 |
| |
J. Sainsbury PLC + |
|
| 110,071 |
|
| 773,370 |
| |
Mitchells & Butlers PLC + |
|
| 19,436 |
|
| 214,677 |
| |
Rio Tinto PLC + |
|
| 2,967 |
|
| 140,406 |
| |
Royal & Sun Alliance Insurance Group PLC + |
|
| 144,928 |
|
| 404,038 |
| |
Royal Dutch Shell PLC ‘A’ + |
|
| 19,400 |
|
| 640,696 |
| |
The Royal Bank of Scotland Group PLC + |
|
| 34,433 |
|
| 1,184,771 |
| |
Vodafone Group PLC + |
|
| 519,171 |
|
| 1,185,881 |
| |
Wolverhampton & Dudley Breweries PLC + |
|
| 13,424 |
|
| 362,293 |
| |
Xstrata PLC + |
|
| 15,090 |
|
| 622,982 |
| |
|
|
|
|
|
| |||
|
|
|
|
|
| 11,956,231 |
| |
|
|
|
|
|
| |||
|
|
|
|
|
|
|
| |
Total Common Stocks |
|
|
|
|
|
|
| |
(Cost $53,499,213) |
|
|
|
|
| 56,526,805 |
| |
|
|
|
|
|
| |||
|
|
|
|
|
|
|
| |
TOTAL INVESTMENTS - 95.57% |
|
|
|
|
|
|
| |
(Cost $53,499,213) |
|
|
|
|
| 56,526,805 |
| |
|
|
|
|
|
|
|
| |
OTHER ASSETS & LIABILITIES, NET - 4.43% |
|
|
|
|
| 2,620,860 |
| |
|
|
|
|
|
| |||
|
|
|
|
|
|
|
| |
NET ASSETS - 100.00% |
|
|
|
| $ | 59,147,665 |
| |
|
|
|
|
|
| |||
|
|
|
|
|
|
|
| |
Notes to Schedule of Investments |
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
| |
(a) As of September 30, 2006, the Fund was diversified as a percentage of net assets as follows: |
| |||||||
|
|
|
|
|
|
|
| |
Financial Services |
|
|
|
|
| 32.82 | % | |
Autos & Transportation |
|
|
|
|
| 12.96 | % | |
Materials & Processing |
|
|
|
|
| 9.71 | % | |
Utilities |
|
|
|
|
| 9.42 | % | |
Integrated Oils |
|
|
|
|
| 8.35 | % | |
Consumer Discretionary |
|
|
|
|
| 4.24 | % | |
Consumer Staples |
|
|
|
|
| 4.00 | % | |
Health Care |
|
|
|
|
| 3.21 | % | |
Technology |
|
|
|
|
| 2.91 | % | |
Multi-Industry |
|
|
|
|
| 2.82 | % | |
Producer Durables |
|
|
|
|
| 2.81 | % | |
Energy |
|
|
|
|
| 2.32 | % | |
|
|
|
|
|
| |||
|
|
|
|
|
| 95.57 | % | |
Other Assets & Liabilities, Net |
|
|
|
|
| 4.43 | % | |
|
|
|
|
|
| |||
|
|
|
|
|
| 100.00 | % | |
|
|
|
|
|
| |||
|
|
|
|
|
|
|
| |
(b) As of September 30, 2006, the Fund was diversified by geographical region as a percentage of net assets as follows: |
| |||||||
|
|
|
|
|
|
|
| |
Japan |
|
|
|
|
| 26.48 | % | |
United Kingdom |
|
|
|
|
| 20.21 | % | |
France |
|
|
|
|
| 11.75 | % | |
Germany |
|
|
|
|
| 10.61 | % | |
Netherlands |
|
|
|
|
| 6.72 | % | |
Canada |
|
|
|
|
| 4.53 | % | |
Italy |
|
|
|
|
| 3.73 | % | |
Switzerland |
|
|
|
|
| 1.92 | % | |
Belgium |
|
|
|
|
| 1.73 | % | |
Spain |
|
|
|
|
| 1.56 | % | |
Austria |
|
|
|
|
| 1.11 | % | |
Denmark |
|
|
|
|
| 0.95 | % | |
Finland |
|
|
|
|
| 0.88 | % | |
Australia |
|
|
|
|
| 0.75 | % | |
Hong Kong |
|
|
|
|
| 0.66 | % | |
Bermuda |
|
|
|
|
| 0.56 | % | |
Greece |
|
|
|
|
| 0.52 | % | |
Sweden |
|
|
|
|
| 0.42 | % | |
Luxembourg |
|
|
|
|
| 0.25 | % | |
Singapore |
|
|
|
|
| 0.23 | % | |
|
|
|
|
|
| |||
|
|
|
|
|
| 95.57 | % | |
Other Assets & Liabilities, Net |
|
|
|
|
| 4.43 | % | |
|
|
|
|
|
| |||
|
|
|
|
|
| 100.00 | % | |
|
|
|
|
|
| |||
|
|
|
|
|
|
|
| |
(c) The amount of $79,300 in cash was segregated with the broker to cover margin requirements for the following open futures contracts as of September 30, 2006: |
| |||||||
|
|
|
|
|
|
|
|
|
Long Futures Outstanding | Number of |
| Notional |
| Unrealized |
| ||
| ||||||||
Dow Jones EURO STOXX 50 (12/06) | 8 |
| $ | 380,551 |
| $ | 17,043 |
|
|
|
|
|
|
|
|
|
|
See Notes to Financial Statements | See explanation of symbols and terms, if any, on page A-38 |
|
|
A-5 |
|
PACIFIC FUNDS |
|
|
|
|
|
|
|
|
|
| Principal |
| Value |
| ||
|
|
|
| ||||
CORPORATE BONDS & NOTES - 8.03% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Autos & Transportation - 0.28% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GATX Financial Corp |
|
|
|
|
|
|
|
5.125% due 04/15/10 |
| $ | 150,000 |
| $ | 148,308 |
|
|
|
|
|
|
| ||
Consumer Discretionary - 0.30% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Time Warner Inc |
|
|
|
|
|
|
|
6.750% due 04/15/11 |
|
| 150,000 |
|
| 157,035 |
|
|
|
|
|
|
| ||
Financial Services - 5.30% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
American General Finance Corp |
|
|
|
|
|
|
|
4.875% due 05/15/10 |
|
| 250,000 |
|
| 246,412 |
|
ANZ Capital Trust Inc |
|
|
|
|
|
|
|
4.484% due 12/15/53 ~ |
|
| 500,000 |
|
| 485,008 |
|
Greater Bay Bancorp |
|
|
|
|
|
|
|
5.125% due 04/15/10 |
|
| 100,000 |
|
| 98,953 |
|
ING Capital Funding Trust III |
|
|
|
|
|
|
|
8.439% due 12/29/49 § |
|
| 250,000 |
|
| 277,671 |
|
Mizuho JGB Investment LLC |
|
|
|
|
|
|
|
9.870% due 06/30/08 ~ § |
|
| 300,000 |
|
| 321,441 |
|
Morgan Stanley |
|
|
|
|
|
|
|
5.050% due 01/21/11 |
|
| 250,000 |
|
| 247,967 |
|
PNC Funding Corp |
|
|
|
|
|
|
|
6.500% due 05/01/08 |
|
| 300,000 |
|
| 305,269 |
|
Popular North America Inc |
|
|
|
|
|
|
|
5.200% due 12/12/07 |
|
| 200,000 |
|
| 198,538 |
|
Wachovia Capital Trust III |
|
|
|
|
|
|
|
5.800% due 03/15/42 § |
|
| 250,000 |
|
| 250,921 |
|
Waddell & Reed Financial Inc |
|
|
|
|
|
|
|
5.600% due 01/15/11 |
|
| 150,000 |
|
| 148,911 |
|
Washington Mutual Inc |
|
|
|
|
|
|
|
8.250% due 04/01/10 |
|
| 200,000 |
|
| 217,290 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 2,798,381 |
|
|
|
|
|
|
| ||
Producer Durables - 0.48% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
John Deere Capital Corp |
|
|
|
|
|
|
|
5.400% due 04/07/10 |
|
| 250,000 |
|
| 251,570 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
Utilities - 1.67% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Comcast Corp |
|
|
|
|
|
|
|
5.850% due 01/15/10 |
|
| 250,000 |
|
| 253,737 |
|
Cox Communications Inc |
|
|
|
|
|
|
|
4.625% due 01/15/10 |
|
| 150,000 |
|
| 146,016 |
|
Deutsche Telekom International Finance BV (Netherlands) |
|
|
|
|
|
|
|
8.000% due 06/15/10 |
|
| 200,000 |
|
| 218,354 |
|
GTE Corp |
|
|
|
|
|
|
|
7.510% due 04/01/09 |
|
| 250,000 |
|
| 262,487 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 880,594 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
Total Corporate Bonds & Notes |
|
|
|
|
|
|
|
(Cost $4,201,697) |
|
|
|
|
| 4,235,888 |
|
|
|
|
|
|
| ||
U.S. GOVERNMENT AGENCY ISSUES - 55.11% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fannie Mae |
|
|
|
|
|
|
|
2.375% due 03/30/07 |
|
| 1,000,000 |
|
| 985,823 |
|
3.250% due 01/28/08 § |
|
| 1,300,000 |
|
| 1,279,829 |
|
3.550% due 01/12/07 |
|
| 1,500,000 |
|
| 1,492,746 |
|
4.500% due 08/04/08 |
|
| 1,000,000 |
|
| 991,931 |
|
4.750% due 02/01/08 |
|
| 1,300,000 |
|
| 1,294,593 |
|
6.625% due 09/15/09 |
|
| 1,000,000 |
|
| 1,047,234 |
|
Federal Farm Credit Bank |
|
|
|
|
|
|
|
3.125% due 02/01/08 |
|
| 1,000,000 |
|
| 975,780 |
|
3.800% due 09/07/07 |
|
| 2,000,000 |
|
| 1,975,946 |
|
Federal Home Loan Bank |
|
|
|
|
|
|
|
2.720% due 10/26/06 |
|
| 1,000,000 |
|
| 998,261 |
|
3.375% due 02/15/07 |
|
| 1,000,000 |
|
| 993,031 |
|
3.375% due 02/15/08 |
|
| 1,000,000 |
|
| 978,111 |
|
3.625% due 02/16/07 |
|
| 1,270,000 |
|
| 1,262,236 |
|
3.800% due 12/29/06 |
|
| 700,000 |
|
| 697,450 |
|
3.828% due 09/07/07 § |
|
| 1,000,000 |
|
| 990,690 |
|
4.000% due 12/03/07 § |
|
| 1,000,000 |
|
| 979,666 |
|
4.125% due 09/06/07 |
|
| 500,000 |
|
| 495,452 |
|
4.125% due 10/26/07 |
|
| 2,000,000 |
|
| 1,980,088 |
|
4.750% due 08/17/07 |
|
| 2,000,000 |
|
| 1,993,020 |
|
4.875% due 02/15/07 |
|
| 1,000,000 |
|
| 998,429 |
|
Freddie Mac |
|
|
|
|
|
|
|
2.550% due 04/19/07 |
|
| 400,000 |
|
| 394,194 |
|
4.200% due 12/28/07 |
|
| 1,000,000 |
|
| 989,894 |
|
4.480% due 09/19/08 |
|
| 1,000,000 |
|
| 990,809 |
|
4.500% due 04/18/07 |
|
| 800,000 |
|
| 796,198 |
|
5.000% due 09/17/07 |
|
| 3,500,000 |
|
| 3,495,811 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
Total U.S. Government Agency Issues |
|
|
|
|
|
|
|
(Cost $29,172,424) |
|
|
|
|
| 29,077,222 |
|
|
|
|
|
|
| ||
U.S. TREASURY OBLIGATIONS - 31.73% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Treasury Inflation Protected Securities - 2.55% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1.875% due 07/15/13 ^ |
|
| 110,767 |
|
| 107,933 |
|
1.875% due 07/15/15 ^ |
|
| 418,364 |
|
| 405,225 |
|
2.000% due 01/15/14 ^ |
|
| 110,102 |
|
| 108,033 |
|
2.000% due 07/15/14 ^ |
|
| 215,856 |
|
| 211,623 |
|
2.500% due 07/15/16 ^ |
|
| 503,685 |
|
| 513,917 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 1,346,731 |
|
|
|
|
|
|
| ||
U.S. Treasury Notes - 28.97% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3.125% due 09/15/08 |
|
| 8,000,000 |
|
| 7,771,256 |
|
4.375% due 01/31/08 |
|
| 500,000 |
|
| 497,188 |
|
4.500% due 02/15/09 |
|
| 1,000,000 |
|
| 996,758 |
|
4.875% due 08/31/08 |
|
| 5,800,000 |
|
| 5,817,898 |
|
4.875% due 05/15/09 |
|
| 200,000 |
|
| 201,219 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 15,284,319 |
|
|
|
|
|
|
| ||
U.S. Treasury Strips - 0.21% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
0.000% due 11/15/26 |
|
| 300,000 |
|
| 113,497 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
Total U.S. Treasury Obligations |
|
|
|
|
|
|
|
(Cost $16,675,449) |
|
|
|
|
| 16,744,547 |
|
|
|
|
|
|
|
|
|
See Notes to Financial Statements | See explanation of symbols and terms, if any, on page A-38 |
|
|
A-6 |
|
PACIFIC FUNDS |
|
|
|
|
|
|
|
|
|
| Shares |
| Value |
| ||
|
|
|
| ||||
SHORT-TERM INVESTMENT - 4.32% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Money Market Fund - 4.32% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BlackRock Liquidity Funds Institutional TempFund |
|
| 2,281,067 |
| $ | 2,281,067 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
Total Short-Term Investment |
|
|
|
|
| 2,281,067 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
TOTAL INVESTMENTS - 99.19% |
|
|
|
|
| 52,338,724 |
|
|
|
|
|
|
|
|
|
OTHER ASSETS & LIABILITIES, NET - 0.81% |
|
|
|
|
| 425,895 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
NET ASSETS - 100.00% |
|
|
|
| $ | 52,764,619 |
|
|
|
|
|
|
| ||
Notes to Schedule of Investments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a) As of September 30, 2006, the Fund was diversified as a percentage of net assets as follows: |
| ||||||
|
|
|
|
|
|
|
|
U.S. Government Agency Issues |
|
|
|
|
| 55.11 | % |
U.S. Treasury Obligations |
|
|
|
|
| 31.73 | % |
Corporate Bonds & Notes |
|
|
|
|
| 8.03 | % |
Short-Term Investment |
|
|
|
|
| 4.32 | % |
|
|
|
|
|
| ||
|
|
|
|
|
| 99.19 | % |
Other Assets & Liabilities, Net |
|
|
|
|
| 0.81 | % |
|
|
|
|
|
| ||
|
|
|
|
|
| 100.00 | % |
|
|
|
|
|
|
(b) The amount of $85,000 in cash was segregated with the custodian to cover margin requirements for the following open futures contracts as of September 30, 2006:
|
|
|
|
|
|
|
|
|
|
|
Long Futures Outstanding |
| Number of |
| Notional |
| Unrealized |
| |||
| ||||||||||
Eurodollar (12/06) |
| 12 |
|
| $ | 12,000,000 |
|
| ($16,116 | ) |
Eurodollar (06/07) |
| 10 |
|
|
| 10,000,000 |
|
| (6,096 | ) |
Eurodollar (09/07) |
| 13 |
|
|
| 13,000,000 |
|
| (2,894 | ) |
U.S. Treasury 2-Year Notes (12/06) |
| 32 |
|
|
| 6,400,000 |
|
| 11,106 |
|
U.S. Treasury 5-Year Notes (12/06) |
| 3 |
|
|
| 300,000 |
|
| 2,132 |
|
|
|
|
|
|
|
|
|
|
|
|
Short Futures Outstanding |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
U.S. Treasury 10-Year Notes (12/06) |
| 6 |
|
|
| 600,000 |
|
| (6,456 | ) |
U.S. Treasury 20-Year Bonds (12/06) |
| 10 |
|
|
| 1,000,000 |
|
| (21,815 | ) |
|
|
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
| ($40,139 | ) |
|
|
|
|
|
|
|
|
|
|
|
See Notes to Financial Statements | See explanation of symbols and terms, if any, on page A-38 |
|
|
A-7 |
|
PACIFIC FUNDS |
|
|
|
|
|
|
|
|
|
| Shares |
| Value |
| ||
|
|
|
| ||||
|
|
|
|
|
| ||
EQUITY-LINKED STRUCTURED NOTES - 0.41% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Health Care - 0.41% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Morgan Stanley Convertible |
|
| 2,155 |
| $ | 98,268 |
|
Morgan Stanley Convertible |
|
| 2,155 |
|
| 99,065 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 197,333 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
Total Equity-Linked Structured Notes |
|
|
|
|
| 197,333 |
|
|
|
|
|
|
| ||
COMMON STOCKS - 96.48% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Autos & Transportation - 5.79% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bayerische Motoren Werke AG + (Germany) |
|
| 8,721 |
|
| 466,493 |
|
C.H. Robinson Worldwide Inc |
|
| 12,410 |
|
| 553,238 |
|
Canadian National Railway Co (Canada) |
|
| 11,124 |
|
| 466,541 |
|
FedEx Corp |
|
| 3,435 |
|
| 373,316 |
|
Lear Corp |
|
| 2,725 |
|
| 56,407 |
|
Quality Distribution Inc * |
|
| 10,000 |
|
| 147,200 |
|
Union Pacific Corp |
|
| 2,990 |
|
| 263,120 |
|
United Parcel Service Inc ‘B’ |
|
| 6,430 |
|
| 462,574 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 2,788,889 |
|
|
|
|
|
|
| ||
Consumer Discretionary - 15.24% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
eBay Inc * |
|
| 11,855 |
|
| 336,208 |
|
Electronic Arts Inc * |
|
| 13,500 |
|
| 751,680 |
|
Federated Department Stores Inc |
|
| 7,070 |
|
| 305,495 |
|
Google Inc ‘A’ * |
|
| 1,285 |
|
| 516,441 |
|
Harrah’s Entertainment Inc |
|
| 5,755 |
|
| 382,305 |
|
IAC/InterActiveCorp * |
|
| 15,555 |
|
| 447,362 |
|
Industria de Diseno Textil SA + (Spain) |
|
| 4,756 |
|
| 221,821 |
|
Kimberly-Clark Corp |
|
| 5,530 |
|
| 361,441 |
|
Lamar Advertising Co ‘A’ * |
|
| 6,195 |
|
| 330,875 |
|
Liberty Global Inc ‘A’ * |
|
| 6,626 |
|
| 170,553 |
|
Liberty Global Inc ‘C’ * |
|
| 7,036 |
|
| 176,322 |
|
Liberty Media Holding Corp - Capital ‘A’ * |
|
| 2,601 |
|
| 217,365 |
|
Lowe’s Cos Inc |
|
| 10,265 |
|
| 288,036 |
|
LVMH Moet Hennessy Louis Vuitton SA + (France) |
|
| 2,250 |
|
| 231,406 |
|
Marvel Entertainment Inc * |
|
| 7,250 |
|
| 175,015 |
|
Nordstrom Inc |
|
| 15,170 |
|
| 641,691 |
|
Staples Inc |
|
| 23,367 |
|
| 568,519 |
|
Station Casinos Inc |
|
| 1,775 |
|
| 102,648 |
|
Yahoo! Inc * |
|
| 44,130 |
|
| 1,115,606 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 7,340,789 |
|
|
|
|
|
|
| ||
Consumer Staples - 6.62% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Altria Group Inc |
|
| 3,095 |
|
| 236,922 |
|
CVS Corp |
|
| 6,230 |
|
| 200,108 |
|
Dean Foods Co * |
|
| 8,290 |
|
| 348,346 |
|
Sysco Corp |
|
| 9,280 |
|
| 310,416 |
|
The Procter & Gamble Co |
|
| 25,575 |
|
| 1,585,138 |
|
Whole Foods Market Inc |
|
| 8,510 |
|
| 505,749 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 3,186,679 |
|
|
|
|
|
|
| ||
Energy - 2.77% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Apache Corp |
|
| 4,075 |
|
| 257,540 |
|
NRG Energy Inc * |
|
| 20,895 |
|
| 946,543 |
|
Valero Energy Corp |
|
| 2,485 |
|
| 127,903 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 1,331,986 |
|
|
|
|
|
|
| ||
Financial Services - 12.60% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
American Express Co |
|
| 11,040 |
|
| 619,123 |
|
Berkshire Hathaway Inc ‘B’ * |
|
| 160 |
|
| 507,840 |
|
Chicago Mercantile Exchange Holdings Inc |
|
| 430 |
|
| 205,647 |
|
Fannie Mae |
|
| 13,135 |
|
| 734,378 |
|
JPMorgan Chase & Co |
|
| 32,908 |
|
| 1,545,360 |
|
Legg Mason Inc |
|
| 3,910 |
|
| 394,363 |
|
Marsh & McLennan Cos Inc |
|
| 13,165 |
|
| 370,595 |
|
Merrill Lynch & Co Inc |
|
| 7,925 |
|
| 619,893 |
|
Moody’s Corp |
|
| 4,150 |
|
| 271,327 |
|
NewAlliance Bancshares Inc |
|
| 22,035 |
|
| 322,813 |
|
Paychex Inc |
|
| 6,525 |
|
| 240,446 |
|
UBS AG (NYSE) (Switzerland) |
|
| 3,955 |
|
| 234,571 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 6,066,356 |
|
|
|
|
|
|
| ||
Health Care - 16.31% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Abbott Laboratories |
|
| 10,200 |
|
| 495,312 |
|
Amgen Inc * |
|
| 5,765 |
|
| 412,370 |
|
Amylin Pharmaceuticals Inc * |
|
| 7,495 |
|
| 330,305 |
|
Cardinal Health Inc |
|
| 8,175 |
|
| 537,424 |
|
Caremark Rx Inc |
|
| 10,785 |
|
| 611,186 |
|
Celgene Corp * |
|
| 8,750 |
|
| 378,875 |
|
Coventry Health Care Inc * |
|
| 17,810 |
|
| 917,571 |
|
Gilead Sciences Inc * |
|
| 7,820 |
|
| 537,234 |
|
Intuitive Surgical Inc * |
|
| 2,000 |
|
| 210,900 |
|
Manor Care Inc |
|
| 8,720 |
|
| 455,882 |
|
Merck & Co Inc |
|
| 22,350 |
|
| 936,465 |
|
Roche Holding AG + (Switzerland) |
|
| 8,205 |
|
| 1,417,555 |
|
Teva Pharmaceutical Industries Ltd ADR (Israel) |
|
| 4,065 |
|
| 138,576 |
|
UnitedHealth Group Inc |
|
| 9,665 |
|
| 475,518 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 7,855,173 |
|
|
|
|
|
|
| ||
Integrated Oils - 4.14% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EnCana Corp (Canada) |
|
| 4,965 |
|
| 231,816 |
|
Exxon Mobil Corp |
|
| 19,665 |
|
| 1,319,522 |
|
Hess Corp |
|
| 5,205 |
|
| 215,591 |
|
Suncor Energy Inc (Canada) |
|
| 3,185 |
|
| 229,479 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 1,996,408 |
|
|
|
|
|
|
| ||
Materials & Processing - 4.94% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ball Corp |
|
| 8,085 |
|
| 327,038 |
|
Cemex SAB de CV ADR * (Mexico) |
|
| 8,870 |
|
| 266,810 |
|
Masco Corp |
|
| 6,345 |
|
| 173,980 |
|
Monsanto Co |
|
| 8,600 |
|
| 404,286 |
|
Precision Castparts Corp |
|
| 10,685 |
|
| 674,865 |
|
Syngenta AG * + (Switzerland) |
|
| 3,537 |
|
| 533,321 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 2,380,300 |
|
|
|
|
|
|
| ||
Multi-Industry - 2.89% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
General Electric Co |
|
| 39,485 |
|
| 1,393,821 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
Producer Durables - 5.68% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BAE Systems PLC + (United Kingdom) |
|
| 33,206 |
|
| 245,584 |
|
Crown Castle International Corp * |
|
| 7,205 |
|
| 253,904 |
|
Emerson Electric Co |
|
| 2,735 |
|
| 229,357 |
|
Lockheed Martin Corp |
|
| 5,650 |
|
| 486,239 |
|
NVR Inc * |
|
| 295 |
|
| 157,825 |
|
The Boeing Co |
|
| 17,275 |
|
| 1,362,134 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 2,735,043 |
|
|
|
|
|
|
| ||
Technology - 15.62% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adobe Systems Inc * |
|
| 11,905 |
|
| 445,842 |
|
Advanced Micro Devices Inc * |
|
| 32,485 |
|
| 807,252 |
|
Akamai Technologies Inc * |
|
| 6,010 |
|
| 300,440 |
|
Apple Computer Inc * |
|
| 9,055 |
|
| 697,507 |
|
Cisco Systems Inc * |
|
| 10,280 |
|
| 236,440 |
|
Cypress Semiconductor Corp * |
|
| 18,285 |
|
| 324,924 |
|
EMC Corp * |
|
| 58,255 |
|
| 697,895 |
|
|
|
See Notes to Financial Statements | See explanation of symbols and terms, if any, on page A-38 |
|
|
A-8 |
|
PACIFIC FUNDS |
|
|
|
|
|
|
|
|
|
|
| Shares |
| Value |
| ||
|
|
|
| ||||
Marvell Technology Group Ltd * (Bermuda) |
|
| 6,560 |
| $ | 127,067 |
|
Nokia OYJ ADR (Finland) |
|
| 18,195 |
|
| 358,260 |
|
Oracle Corp * |
|
| 28,250 |
|
| 501,155 |
|
QUALCOMM Inc |
|
| 11,675 |
|
| 424,386 |
|
Research In Motion Ltd * (Canada) |
|
| 3,620 |
|
| 371,629 |
|
Rockwell Automation Inc |
|
| 6,695 |
|
| 388,980 |
|
Samsung Electronics Co Ltd + (S. Korea) |
|
| 550 |
|
| 385,588 |
|
SAP AG + (Germany) |
|
| 1,969 |
|
| 389,857 |
|
Texas Instruments Inc |
|
| 32,065 |
|
| 1,066,161 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 7,523,383 |
|
|
|
|
|
|
| ||
Utilities - 3.88% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
America Movil SA de CV ‘L’ ADR (Mexico) |
|
| 9,560 |
|
| 376,377 |
|
Level 3 Communications Inc * |
|
| 66,810 |
|
| 357,433 |
|
NeuStar Inc ‘A’ * |
|
| 9,345 |
|
| 259,324 |
|
The AES Corp * |
|
| 13,345 |
|
| 272,105 |
|
TXU Corp |
|
| 9,665 |
|
| 604,256 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 1,869,495 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
Total Common Stocks |
|
|
|
|
| 46,468,322 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
|
| Principal |
|
|
|
| |
|
|
|
|
|
| ||
SHORT-TERM INVESTMENTS - 3.72% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Government Agency Issue - 3.53% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Federal Home Loan Bank |
| $ | 1,700,000 |
|
| 1,699,776 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
|
| Shares |
|
|
|
| |
|
|
|
|
|
| ||
Money Market Funds - 0.19% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BlackRock Liquidity Funds Institutional TempCash |
|
| 46,122 |
|
| 46,122 |
|
BlackRock Liquidity Funds Institutional TempFund |
|
| 46,122 |
|
| 46,122 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 92,244 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
Total Short-Term Investments |
|
|
|
|
| 1,792,020 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
TOTAL INVESTMENTS - 100.61% |
|
|
|
|
| 48,457,675 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OTHER ASSETS & LIABILITIES, NET - (0.61%) |
|
|
|
|
| (296,010 | ) |
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
NET ASSETS - 100.00% |
|
|
|
| $ | 48,161,665 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
Notes to Schedule of Investments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a) As of September 30, 2006, the Fund was diversified as a percentage of net assets as follows: |
| ||||||
|
|
|
|
|
|
|
|
Health Care |
|
|
|
|
| 16.72 | % |
Technology |
|
|
|
|
| 15.62 | % |
Consumer Discretionary |
|
|
|
|
| 15.24 | % |
Financial Services |
|
|
|
|
| 12.60 | % |
Consumer Staples |
|
|
|
|
| 6.62 | % |
Autos & Transportation |
|
|
|
|
| 5.79 | % |
Producer Durables |
|
|
|
|
| 5.68 | % |
Materials & Processing |
|
|
|
|
| 4.94 | % |
Integrated Oils |
|
|
|
|
| 4.14 | % |
Utilities |
|
|
|
|
| 3.88 | % |
Short-Term Investments |
|
|
|
|
| 3.72 | % |
Multi-Industry |
|
|
|
|
| 2.89 | % |
Energy |
|
|
|
|
| 2.77 | % |
|
|
|
|
|
| ||
|
|
|
|
|
| 100.61 | % |
Other Assets & Liabilities, Net |
|
|
|
|
| (0.61 | %) |
|
|
|
|
|
| ||
|
|
|
|
|
| 100.00 | % |
|
|
|
|
|
|
(b) Short-term securities reflect either the stated coupon rate or the annualized effective yield on the date of purchase for discounted securities.
(c) Forward foreign currency contracts outstanding as of September 30, 2006 were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Contracts |
| Currency |
| Principal Amount |
| Expiration |
| Net |
| ||||
| |||||||||||||
Sell |
| CHF |
|
| 335,000 |
|
| 01/07 |
|
| $ | 4,497 |
|
Sell |
| EUR |
|
| 25,000 |
|
| 10/06 |
|
|
| (341 | ) |
Sell |
| EUR |
|
| 95,000 |
|
| 01/07 |
|
|
| (4 | ) |
Sell |
| KRW |
|
| 71,000,000 |
|
| 10/06 |
|
|
| 278 |
|
Sell |
| KRW |
|
| 6,000,000 |
|
| 03/07 |
|
|
| (41 | ) |
|
|
|
|
|
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
|
|
| $ | 4,389 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
See Notes to Financial Statements | See explanation of symbols and terms, if any, on page A-38 |
|
|
A-9 |
|
PACIFIC FUNDS |
|
|
|
|
|
|
|
|
|
|
| Shares |
| Value |
| ||
|
|
|
| ||||
COMMON STOCKS - 95.17% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Autos & Transportation - 4.58% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Laidlaw International Inc |
|
| 31,960 |
| $ | 873,467 |
|
Overseas Shipholding Group Inc |
|
| 8,750 |
|
| 540,487 |
|
Teekay Shipping Corp |
|
| 8,360 |
|
| 343,680 |
|
YRC Worldwide Inc * |
|
| 19,410 |
|
| 718,946 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 2,476,580 |
|
|
|
|
|
|
| ||
Consumer Discretionary - 16.96% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Belo Corp ‘A’ |
|
| 48,510 |
|
| 766,943 |
|
CDW Corp |
|
| 12,950 |
|
| 798,756 |
|
Dollar Tree Stores Inc * |
|
| 26,360 |
|
| 816,106 |
|
Liz Claiborne Inc |
|
| 32,160 |
|
| 1,270,642 |
|
Pacific Sunwear of California Inc * |
|
| 26,180 |
|
| 394,794 |
|
R.H. Donnelley Corp * |
|
| 18,988 |
|
| 1,004,465 |
|
Republic Services Inc |
|
| 19,590 |
|
| 787,714 |
|
Royal Caribbean Cruises Ltd (Liberia) |
|
| 19,770 |
|
| 767,274 |
|
Service Corp International |
|
| 157,630 |
|
| 1,472,264 |
|
The Stanley Works |
|
| 16,340 |
|
| 814,549 |
|
The Talbots Inc |
|
| 10,190 |
|
| 277,677 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 9,171,184 |
|
|
|
|
|
|
| ||
Consumer Staples - 5.61% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Coca-Cola Enterprises Inc |
|
| 55,530 |
|
| 1,156,690 |
|
Pilgrim’s Pride Corp |
|
| 30,280 |
|
| 828,158 |
|
The Kroger Co |
|
| 45,240 |
|
| 1,046,853 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 3,031,701 |
|
|
|
|
|
|
| ||
Energy - 5.87% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BJ Services Co |
|
| 18,500 |
|
| 557,405 |
|
Massey Energy Co |
|
| 36,780 |
|
| 770,173 |
|
Smith International Inc |
|
| 13,460 |
|
| 522,248 |
|
Sunoco Inc |
|
| 8,370 |
|
| 520,530 |
|
The Williams Cos Inc |
|
| 33,720 |
|
| 804,897 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 3,175,253 |
|
|
|
|
|
|
| ||
Financial Services - 22.70% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
A.G. Edwards Inc |
|
| 10,230 |
|
| 545,054 |
|
Ameriprise Financial Inc |
|
| 20,860 |
|
| 978,334 |
|
CBL & Associates Properties Inc REIT |
|
| 16,960 |
|
| 710,794 |
|
DST Systems Inc * |
|
| 17,670 |
|
| 1,089,709 |
|
Health Care Property Investors Inc REIT |
|
| 20,070 |
|
| 623,173 |
|
Hudson City Bancorp Inc |
|
| 39,550 |
|
| 524,038 |
|
Lincoln National Corp |
|
| 18,774 |
|
| 1,165,490 |
|
MasterCard Inc ‘A’ * |
|
| 9,620 |
|
| 676,767 |
|
Mellon Financial Corp |
|
| 31,730 |
|
| 1,240,643 |
|
PartnerRe Ltd (Bermuda) |
|
| 17,640 |
|
| 1,191,935 |
|
Protective Life Corp |
|
| 32,540 |
|
| 1,488,705 |
|
RenaissanceRe Holdings Ltd (Bermuda) |
|
| 21,290 |
|
| 1,183,724 |
|
Willis Group Holdings Ltd (Bermuda) |
|
| 22,600 |
|
| 858,800 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 12,277,166 |
|
|
|
|
|
|
| ||
Health Care - 6.82% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Invitrogen Corp * |
|
| 14,050 |
|
| 890,910 |
|
Laboratory Corp of America Holdings * |
|
| 10,110 |
|
| 662,913 |
|
Sepracor Inc * |
|
| 15,920 |
|
| 771,165 |
|
Triad Hospitals Inc * |
|
| 27,020 |
|
| 1,189,691 |
|
Warner Chilcott Ltd ‘A’ * (Bermuda) |
|
| 13,000 |
|
| 172,900 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 3,687,579 |
|
|
|
|
|
|
| ||
Materials & Processing - 8.47% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ball Corp |
|
| 21,610 |
|
| 874,125 |
|
Cabot Corp |
|
| 23,950 |
|
| 890,940 |
|
Celanese Corp ‘A’ |
|
| 33,320 |
|
| 596,428 |
|
Louisiana-Pacific Corp |
|
| 31,900 |
|
| 598,763 |
|
Owens-Illinois Inc * |
|
| 25,400 |
|
| 391,668 |
|
Sigma-Aldrich Corp |
|
| 9,890 |
|
| 748,376 |
|
Temple-Inland Inc |
|
| 12,020 |
|
| 482,002 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 4,582,302 |
|
|
|
|
|
|
| ||
Multi-Industry - 1.75% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fortune Brands Inc |
|
| 12,620 |
|
| 947,888 |
|
|
|
|
|
|
| ||
Producer Durables - 6.03% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dover Corp |
|
| 21,090 |
|
| 1,000,509 |
|
Hubbell Inc ‘B’ |
|
| 14,110 |
|
| 675,869 |
|
KLA-Tencor Corp |
|
| 8,400 |
|
| 373,548 |
|
Pitney Bowes Inc |
|
| 27,240 |
|
| 1,208,639 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 3,258,565 |
|
|
|
|
|
|
| ||
Technology - 12.45% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Arrow Electronics Inc * |
|
| 24,670 |
|
| 676,698 |
|
Avaya Inc * |
|
| 112,460 |
|
| 1,286,543 |
|
Compuware Corp * |
|
| 85,130 |
|
| 663,163 |
|
Flextronics International Ltd * (Singapore) |
|
| 70,980 |
|
| 897,187 |
|
Hyperion Solutions Corp * |
|
| 18,440 |
|
| 635,811 |
|
Ingram Micro Inc ‘A’ * |
|
| 43,740 |
|
| 838,058 |
|
Solectron Corp * |
|
| 211,270 |
|
| 688,740 |
|
Sun Microsystems Inc * |
|
| 124,240 |
|
| 617,473 |
|
Vishay Intertechnology Inc * |
|
| 30,380 |
|
| 426,535 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 6,730,208 |
|
|
|
|
|
|
| ||
Utilities - 3.93% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Alltel Corp |
|
| 20,026 |
|
| 1,111,443 |
|
Citizens Communications Co |
|
| 72,190 |
|
| 1,013,548 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 2,124,991 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
Total Common Stocks |
|
|
|
|
| 51,463,417 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
SHORT-TERM INVESTMENTS - 4.85% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Money Market Funds - 4.85% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BlackRock Liquidity Funds Institutional TempCash |
|
| 167,488 |
|
| 167,488 |
|
BlackRock Liquidity Funds Institutional TempFund |
|
| 2,451,930 |
|
| 2,451,930 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 2,619,418 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
Total Short-Term Investments |
|
|
|
|
| 2,619,418 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
TOTAL INVESTMENTS - 100.02% |
|
|
|
|
| 54,082,835 |
|
|
|
|
|
|
|
|
|
OTHER ASSETS & LIABILITIES, NET - (0.02%) |
|
|
|
|
| (8,461 | ) |
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
NET ASSETS - 100.00% |
|
|
|
| $ | 54,074,374 |
|
|
|
|
|
|
|
|
|
See Notes to Financial Statements | See explanation of symbols and terms, if any, on page A-38 |
|
|
A-10 |
|
PACIFIC FUNDS |
PF LAZARD MID-CAP VALUE FUND |
Schedule of Investments (Continued) |
September 30, 2006 (Unaudited) |
Note to Schedule of Investments
(a) As of September 30, 2006, the Fund was diversified as a percentage of net assets as follows:
|
|
|
|
|
Financial Services |
|
| 22.70 | % |
Consumer Discretionary |
|
| 16.96 | % |
Technology |
|
| 12.45 | % |
Materials & Processing |
|
| 8.47 | % |
Health Care |
|
| 6.82 | % |
Producer Durables |
|
| 6.03 | % |
Energy |
|
| 5.87 | % |
Consumer Staples |
|
| 5.61 | % |
Short-Term Investments |
|
| 4.85 | % |
Autos & Transportation |
|
| 4.58 | % |
Utilities |
|
| 3.93 | % |
Multi-Industry |
|
| 1.75 | % |
|
|
| ||
|
|
| 100.02 | % |
Other Assets & Liabilities, Net |
|
| (0.02 | %) |
|
|
| ||
|
|
| 100.00 | % |
|
|
|
|
|
|
See Notes to Financial Statements |
| See explanation of symbols and terms, if any, on page A-38 |
|
|
|
A-11 |
|
PACIFIC FUNDS |
PF LOOMIS SAYLES LARGE-CAP GROWTH FUND |
Schedule of Investments |
September 30, 2006 (Unaudited) |
|
|
|
|
|
|
|
|
|
| Shares |
| Value |
| ||
|
|
|
| ||||
COMMON STOCKS - 97.67% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Autos & Transportation - 1.57% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Expeditors International of Washington Inc |
|
| 8,425 |
| $ | 375,586 |
|
|
|
|
|
|
| ||
Consumer Discretionary - 17.00% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
American Eagle Outfitters Inc |
|
| 6,975 |
|
| 305,714 |
|
Best Buy Co Inc |
|
| 5,825 |
|
| 311,987 |
|
Coach Inc * |
|
| 10,475 |
|
| 360,340 |
|
Google Inc ‘A’ * |
|
| 2,300 |
|
| 924,370 |
|
Monster Worldwide Inc * |
|
| 7,000 |
|
| 253,330 |
|
News Corp ‘A’ |
|
| 27,550 |
|
| 541,357 |
|
Nordstrom Inc |
|
| 5,750 |
|
| 243,225 |
|
Staples Inc |
|
| 9,650 |
|
| 234,785 |
|
Starwood Hotels & Resorts Worldwide Inc |
|
| 4,100 |
|
| 234,479 |
|
The McGraw-Hill Cos Inc |
|
| 5,950 |
|
| 345,279 |
|
Wal-Mart Stores Inc |
|
| 6,375 |
|
| 314,415 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 4,069,281 |
|
|
|
|
|
|
| ||
Consumer Staples - 6.95% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CVS Corp |
|
| 8,400 |
|
| 269,808 |
|
Hansen Natural Corp * |
|
| 4,500 |
|
| 146,160 |
|
PepsiCo Inc |
|
| 13,575 |
|
| 885,904 |
|
The Procter & Gamble Co |
|
| 5,825 |
|
| 361,034 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 1,662,906 |
|
|
|
|
|
|
| ||
Energy - 2.63% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Halliburton Co |
|
| 10,225 |
|
| 290,901 |
|
National Oilwell Varco Inc * |
|
| 5,775 |
|
| 338,126 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 629,027 |
|
|
|
|
|
|
| ||
Financial Services - 20.18% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Alliance Data Systems Corp * |
|
| 3,100 |
|
| 171,089 |
|
BlackRock Inc |
|
| 2,475 |
|
| 368,775 |
|
CB Richard Ellis Group Inc ‘A’ * |
|
| 16,775 |
|
| 412,665 |
|
Chicago Mercantile Exchange Holdings Inc |
|
| 1,250 |
|
| 597,812 |
|
Lehman Brothers Holdings Inc |
|
| 8,575 |
|
| 633,349 |
|
Morgan Stanley |
|
| 4,925 |
|
| 359,082 |
|
Northern Trust Corp |
|
| 4,050 |
|
| 236,642 |
|
State Street Corp |
|
| 5,675 |
|
| 354,120 |
|
T. Rowe Price Group Inc |
|
| 6,250 |
|
| 299,063 |
|
The Chubb Corp |
|
| 6,900 |
|
| 358,524 |
|
The Goldman Sachs Group Inc |
|
| 3,925 |
|
| 663,992 |
|
The Hartford Financial Services Group Inc |
|
| 4,325 |
|
| 375,194 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 4,830,307 |
|
|
|
|
|
|
| ||
Health Care - 15.37% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Abbott Laboratories |
|
| 7,075 |
|
| 343,562 |
|
Baxter International Inc |
|
| 6,575 |
|
| 298,899 |
|
DaVita Inc * |
|
| 6,950 |
|
| 402,196 |
|
Genentech Inc * |
|
| 7,725 |
|
| 638,858 |
|
Gilead Sciences Inc * |
|
| 9,750 |
|
| 669,825 |
|
Medco Health Solutions Inc * |
|
| 8,325 |
|
| 500,416 |
|
Quest Diagnostics Inc |
|
| 4,275 |
|
| 261,459 |
|
WellPoint Inc * |
|
| 7,325 |
|
| 564,391 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 3,679,606 |
|
|
|
|
|
|
| ||
Materials & Processing - 3.49% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Archer-Daniels-Midland Co |
|
| 8,575 |
|
| 324,821 |
|
Precision Castparts Corp |
|
| 8,075 |
|
| 510,017 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 834,838 |
|
|
|
|
|
|
| ||
Multi-Industry - 2.40% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
General Electric Co |
|
| 16,275 |
|
| 574,508 |
|
|
|
|
|
|
| ||
Producer Durables - 1.41% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Emerson Electric Co |
|
| 4,025 |
|
| 337,537 |
|
|
|
|
|
|
| ||
Technology - 26.67% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Akamai Technologies Inc * |
|
| 8,050 |
|
| 402,419 |
|
Apple Computer Inc * |
|
| 11,125 |
|
| 856,959 |
|
BEA Systems Inc * |
|
| 17,500 |
|
| 266,000 |
|
Cisco Systems Inc * |
|
| 15,525 |
|
| 357,075 |
|
Cognizant Technology Solutions Corp ‘A’ * |
|
| 6,725 |
|
| 498,053 |
|
Corning Inc * |
|
| 10,450 |
|
| 255,085 |
|
Intel Corp |
|
| 17,600 |
|
| 362,032 |
|
Motorola Inc |
|
| 22,650 |
|
| 566,250 |
|
Network Appliance Inc * |
|
| 15,700 |
|
| 581,057 |
|
NVIDIA Corp * |
|
| 7,875 |
|
| 233,021 |
|
Oracle Corp * |
|
| 40,250 |
|
| 714,035 |
|
QUALCOMM Inc |
|
| 16,050 |
|
| 583,418 |
|
Symantec Corp * |
|
| 16,725 |
|
| 355,908 |
|
Texas Instruments Inc |
|
| 10,625 |
|
| 353,281 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 6,384,593 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
Total Common Stocks |
|
|
|
|
|
|
|
(Cost $21,960,474) |
|
|
|
|
| 23,378,189 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
TOTAL INVESTMENTS - 97.67% |
|
|
|
|
|
|
|
(Cost $21,960,474) |
|
|
|
|
| 23,378,189 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OTHER ASSETS & LIABILITIES, NET - 2.33% |
|
|
|
|
| 557,324 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
NET ASSETS - 100.00% |
|
|
|
| $ | 23,935,513 |
|
|
|
|
|
|
|
Note to Schedule of Investments
(a) As of September 30, 2006, the Fund was diversified as a percentage of net assets as follows:
Technology |
|
| 26.67 | % |
Financial Services |
|
| 20.18 | % |
Consumer Discretionary |
|
| 17.00 | % |
Health Care |
|
| 15.37 | % |
Consumer Staples |
|
| 6.95 | % |
Materials & Processing |
|
| 3.49 | % |
Energy |
|
| 2.63 | % |
Multi-Industry |
|
| 2.40 | % |
Autos & Transportation |
|
| 1.57 | % |
Producer Durables |
|
| 1.41 | % |
|
|
| ||
|
|
| 97.67 | % |
Other Assets & Liabilities, Net |
|
| 2.33 | % |
|
|
| ||
|
|
| 100.00 | % |
|
|
|
|
|
|
See Notes to Financial Statements |
| See explanation of symbols and terms, if any, on page A-38 |
|
|
|
A-12 |
|
PACIFIC FUNDS |
PF MFS INTERNATIONAL LARGE-CAP FUND |
Schedule of Investments |
September 30, 2006 (Unaudited) |
|
|
|
|
|
|
|
|
|
| Shares |
| Value |
| ||
|
|
|
| ||||
COMMON STOCKS - 98.59% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Australia - 0.99% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
QBE Insurance Group Ltd + |
|
| 31,271 |
| $ | 570,416 |
|
|
|
|
|
|
| ||
Austria - 0.95% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Erste Bank der Oesterreichischen Sparkassen AG + |
|
| 8,790 |
|
| 546,851 |
|
|
|
|
|
|
| ||
Bermuda - 1.85% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Esprit Holdings Ltd + |
|
| 64,000 |
|
| 583,223 |
|
Li & Fung Ltd + |
|
| 197,200 |
|
| 489,605 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 1,072,828 |
|
|
|
|
|
|
| ||
Canada - 0.82% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Canadian National Railway Co |
|
| 11,360 |
|
| 476,438 |
|
|
|
|
|
|
| ||
Cayman - 0.64% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Hutchison Telecommunications International Ltd * + |
|
| 208,000 |
|
| 368,083 |
|
|
|
|
|
|
| ||
France - 22.84% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AXA + |
|
| 49,970 |
|
| 1,841,350 |
|
Credit Agricole SA + |
|
| 32,983 |
|
| 1,446,160 |
|
Gaz de France SA + |
|
| 10,300 |
|
| 409,659 |
|
L’Air Liquide SA + |
|
| 4,958 |
|
| 1,011,414 |
|
L’Air Liquide SA - Registered * + |
|
| 3,468 |
|
| 707,478 |
|
Legrand SA + |
|
| 16,840 |
|
| 467,799 |
|
L’Oreal SA + |
|
| 3,290 |
|
| 333,757 |
|
LVMH Moet Hennessy Louis Vuitton SA + |
|
| 12,070 |
|
| 1,241,363 |
|
Pernod-Ricard SA + |
|
| 5,100 |
|
| 1,060,804 |
|
Sanofi-Aventis + |
|
| 13,655 |
|
| 1,213,994 |
|
Schneider Electric SA + |
|
| 18,762 |
|
| 2,089,513 |
|
Total SA + |
|
| 21,110 |
|
| 1,384,615 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 13,207,906 |
|
|
|
|
|
|
| ||
Germany - 4.34% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bayer AG + |
|
| 20,940 |
|
| 1,066,589 |
|
E.ON AG + |
|
| 12,150 |
|
| 1,440,863 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 2,507,452 |
|
|
|
|
|
|
| ||
Hong Kong - 0.76% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CNOOC Ltd + |
|
| 526,500 |
|
| 438,340 |
|
|
|
|
|
|
| ||
Indonesia - 0.60% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
P.T. Bank Central Asia Tbk + |
|
| 670,500 |
|
| 349,921 |
|
|
|
|
|
|
| ||
Italy - 4.11% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Assicurazioni Generali SPA + |
|
| 24,150 |
|
| 902,567 |
|
Banca Intesa SPA + |
|
| 68,440 |
|
| 449,995 |
|
FASTWEB SPA * + |
|
| 1,090 |
|
| 49,375 |
|
UniCredito Italiano SPA + |
|
| 117,540 |
|
| 975,457 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 2,377,394 |
|
|
|
|
|
|
| ||
Japan - 16.55% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Asahi Glass Co Ltd + |
|
| 65,000 |
|
| 801,885 |
|
Bridgestone Corp + |
|
| 36,900 |
|
| 747,229 |
|
Canon Inc + |
|
| 22,450 |
|
| 1,173,223 |
|
FANUC Ltd + |
|
| 6,000 |
|
| 468,321 |
|
Kao Corp + |
|
| 36,000 |
|
| 959,739 |
|
Nintendo Co Ltd + |
|
| 3,000 |
|
| 618,570 |
|
Nitto Denko Corp + |
|
| 11,300 |
|
| 669,414 |
|
OMRON Corp + |
|
| 16,600 |
|
| 407,325 |
|
ORIX Corp + |
|
| 1,380 |
|
| 381,286 |
|
Ricoh Co Ltd + |
|
| 45,000 |
|
| 895,439 |
|
Shinsei Bank Ltd + |
|
| 117,000 |
|
| 714,057 |
|
Tokyo Gas Co Ltd + |
|
| 81,640 |
|
| 409,395 |
|
Toyota Motor Corp + |
|
| 24,300 |
|
| 1,322,327 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 9,568,210 |
|
|
|
|
|
|
| ||
Mexico - 1.05% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Grupo Televisa SA ADR |
|
| 28,460 |
|
| 605,060 |
|
|
|
|
|
|
| ||
Singapore - 1.23% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Singapore Telecommunications Ltd + |
|
| 465,376 |
|
| 713,451 |
|
|
|
|
|
|
| ||
South Korea - 2.97% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Samsung Electronics Co Ltd + |
|
| 2,450 |
|
| 1,717,618 |
|
|
|
|
|
|
| ||
Spain - 1.83% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Banco Bilbao Vizcaya Argentaria SA + |
|
| 45,880 |
|
| 1,060,983 |
|
|
|
|
|
|
| ||
Sweden - 0.70% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Telefonaktiebolaget LM Ericsson ‘B’ + |
|
| 116,890 |
|
| 403,852 |
|
|
|
|
|
|
| ||
Switzerland - 14.33% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Actelion Ltd * + |
|
| 1,820 |
|
| 261,383 |
|
Julius Baer Holding AG + |
|
| 8,982 |
|
| 895,549 |
|
Nestle SA + |
|
| 6,600 |
|
| 2,299,758 |
|
Roche Holding AG + |
|
| 11,180 |
|
| 1,931,537 |
|
Swiss Reinsurance Co + |
|
| 14,175 |
|
| 1,083,522 |
|
UBS AG + |
|
| 30,320 |
|
| 1,812,428 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 8,284,177 |
|
|
|
|
|
|
| ||
Thailand - 0.55% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bangkok Bank PCL + |
|
| 108,070 |
|
| 315,459 |
|
|
|
|
|
|
| ||
United Kingdom - 21.06% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AstraZeneca PLC + |
|
| 6,960 |
|
| 434,709 |
|
BG Group PLC + |
|
| 31,480 |
|
| 382,526 |
|
BHP Billiton PLC + |
|
| 21,820 |
|
| 375,982 |
|
Diageo PLC + |
|
| 62,680 |
|
| 1,106,870 |
|
GlaxoSmithKline PLC + |
|
| 51,740 |
|
| 1,376,017 |
|
Ladbrokes PLC + |
|
| 88,208 |
|
| 642,341 |
|
NEXT PLC + |
|
| 16,510 |
|
| 585,867 |
|
Reckitt Benckiser PLC + |
|
| 54,364 |
|
| 2,252,124 |
|
Royal Dutch Shell PLC ‘A’ + |
|
| 28,460 |
|
| 941,040 |
|
Smiths Group PLC + |
|
| 31,330 |
|
| 525,353 |
|
Tesco PLC + |
|
| 180,907 |
|
| 1,219,003 |
|
William Hill PLC + |
|
| 108,530 |
|
| 1,307,282 |
|
WPP Group PLC + |
|
| 83,180 |
|
| 1,030,350 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 12,179,464 |
|
|
|
|
|
|
| ||
United States - 0.42% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Synthes Inc + |
|
| 2,180 |
|
| 242,121 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
Total Common Stocks |
|
|
|
|
|
|
|
(Cost $45,676,226) |
|
|
|
|
| 57,006,024 |
|
|
|
|
|
|
|
|
|
|
See Notes to Financial Statements |
| See explanation of symbols and terms, if any, on page A-38 |
|
|
|
A-13 |
|
PACIFIC FUNDS |
PF MFS INTERNATIONAL LARGE-CAP FUND |
Schedule of Investments (Continued) |
September 30, 2006 (Unaudited) |
|
|
|
|
|
|
|
|
|
| Principal |
| Value |
| ||
|
|
|
| ||||
SHORT-TERM INVESTMENTS - 0.26% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial Paper - 0.26% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Morgan Stanley Dean Witter |
|
|
|
|
|
|
|
5.400% due 10/02/06 |
| $ | 147,000 |
| $ | 146,978 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
|
| Shares |
|
|
|
| |
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
Money Market Fund - 0.00% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BlackRock Liquidity Funds Institutional TempCash |
|
| 193 |
|
| 193 |
|
|
|
|
|
|
| ||
Total Short-Term Investments |
|
|
|
|
|
|
|
(Cost $147,171) |
|
|
|
|
| 147,171 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
TOTAL INVESTMENTS - 98.85% |
|
|
|
|
|
|
|
(Cost $45,823,397) |
|
|
|
|
| 57,153,195 |
|
|
|
|
|
|
|
|
|
OTHER ASSETS & LIABILITIES, NET - 1.15% |
|
|
|
|
| 665,707 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
NET ASSETS - 100.00% |
|
|
|
| $ | 57,818,902 |
|
|
|
|
|
|
|
Notes to Schedule of Investments
(a) As of September 30, 2006, the Fund was diversified as a percentage of net assets as follows:
|
|
|
|
|
Financial Services |
|
| 23.08 | % |
Consumer Discretionary |
|
| 14.52 | % |
Consumer Staples |
|
| 13.73 | % |
Health Care |
|
| 11.29 | % |
Technology |
|
| 7.95 | % |
Materials & Processing |
|
| 6.17 | % |
Utilities |
|
| 5.87 | % |
Integrated Oils |
|
| 5.44 | % |
Producer Durables |
|
| 5.23 | % |
Autos & Transportation |
|
| 4.40 | % |
Multi-Industry |
|
| 0.91 | % |
Short-Term Investments |
|
| 0.26 | % |
|
|
| ||
|
|
| 98.85 | % |
Other Assets & Liabilities, Net |
|
| 1.15 | % |
|
|
| ||
|
|
| 100.00 | % |
|
|
|
(b) As of September 30, 2006, the Fund was diversified by geographical region as a percentage of net assets as follows:
|
|
|
|
|
France |
|
| 22.84 | % |
United Kingdom |
|
| 21.06 | % |
Japan |
|
| 16.55 | % |
Switzerland |
|
| 14.33 | % |
Germany |
|
| 4.34 | % |
Italy |
|
| 4.11 | % |
South Korea |
|
| 2.97 | % |
Bermuda |
|
| 1.85 | % |
Spain |
|
| 1.83 | % |
Singapore |
|
| 1.23 | % |
Mexico |
|
| 1.05 | % |
Australia |
|
| 0.99 | % |
Austria |
|
| 0.95 | % |
Canada |
|
| 0.82 | % |
Hong Kong |
|
| 0.76 | % |
Sweden |
|
| 0.70 | % |
United States |
|
| 0.68 | % |
Cayman |
|
| 0.64 | % |
Indonesia |
|
| 0.60 | % |
Thailand |
|
| 0.55 | % |
|
|
| ||
|
|
| 98.85 | % |
Other Assets & Liabilities, Net |
|
| 1.15 | % |
|
|
| ||
|
|
| 100.00 | % |
|
|
|
(c) Short-term securities reflect either the stated coupon rate or the annualized effective yield on the date of purchase for discounted securities.
|
|
|
See Notes to Financial Statements |
| See explanation of symbols and terms, if any, on page A-38 |
|
|
|
A-14 |
|
PACIFIC FUNDS |
PF NB FASCIANO SMALL EQUITY FUND |
Schedule of Investments |
September 30, 2006 (Unaudited) |
|
|
|
|
|
|
|
|
|
| Shares |
| Value |
| ||
|
|
|
| ||||
COMMON STOCKS - 96.86% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Autos & Transportation - 11.78% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bristow Group Inc * |
|
| 12,800 |
| $ | 440,320 |
|
Forward Air Corp |
|
| 22,200 |
|
| 734,598 |
|
Heartland Express Inc |
|
| 62,966 |
|
| 987,307 |
|
Hub Group Inc ‘A’ * |
|
| 30,600 |
|
| 697,068 |
|
Modine Manufacturing Co |
|
| 22,200 |
|
| 540,126 |
|
Winnebago Industries Inc |
|
| 7,400 |
|
| 232,212 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 3,631,631 |
|
|
|
|
|
|
| ||
Consumer Discretionary - 23.32% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Central Garden & Pet Co * |
|
| 12,400 |
|
| 598,424 |
|
Courier Corp |
|
| 12,500 |
|
| 464,250 |
|
Guitar Center Inc * |
|
| 5,900 |
|
| 263,612 |
|
Houston Wire & Cable Co * |
|
| 14,900 |
|
| 280,120 |
|
Journal Communications Inc ‘A’ |
|
| 32,000 |
|
| 360,640 |
|
Korn/Ferry International * |
|
| 22,800 |
|
| 477,432 |
|
LoJack Corp * |
|
| 21,300 |
|
| 417,267 |
|
MWI Veterinary Supply Inc * |
|
| 7,800 |
|
| 261,534 |
|
Navigant Consulting Inc * |
|
| 26,800 |
|
| 537,608 |
|
RC2 Corp * |
|
| 8,400 |
|
| 281,652 |
|
Ritchie Bros. Auctioneers Inc (Canada) |
|
| 15,300 |
|
| 820,233 |
|
Rollins Inc |
|
| 44,300 |
|
| 935,173 |
|
Ruby Tuesday Inc |
|
| 7,600 |
|
| 214,244 |
|
The Steak n Shake Co * |
|
| 30,500 |
|
| 515,145 |
|
Watson Wyatt Worldwide Inc ‘A’ |
|
| 18,600 |
|
| 761,112 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 7,188,446 |
|
|
|
|
|
|
| ||
Energy - 6.39% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Berry Petroleum Co ‘A’ |
|
| 17,700 |
|
| 498,432 |
|
CARBO Ceramics Inc |
|
| 8,300 |
|
| 299,049 |
|
Hydril Co LP * |
|
| 5,900 |
|
| 330,754 |
|
TETRA Technologies Inc * |
|
| 34,800 |
|
| 840,768 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 1,969,003 |
|
|
|
|
|
|
| ||
Financial Services - 16.34% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
American Equity Investment Life Holding Co |
|
| 23,500 |
|
| 288,345 |
|
Amerisafe Inc * |
|
| 21,500 |
|
| 210,700 |
|
Boston Private Financial Holdings Inc |
|
| 13,800 |
|
| 384,744 |
|
FactSet Research Systems Inc |
|
| 9,600 |
|
| 466,272 |
|
Financial Federal Corp |
|
| 18,300 |
|
| 490,440 |
|
H&E Equipment Services Inc * |
|
| 9,800 |
|
| 239,022 |
|
Hilb Rogal & Hobbs Co |
|
| 13,900 |
|
| 592,835 |
|
ITLA Capital Corp |
|
| 4,900 |
|
| 263,424 |
|
Online Resources Corp * |
|
| 18,300 |
|
| 224,175 |
|
Texas Capital Bancshares Inc * |
|
| 17,200 |
|
| 321,984 |
|
W.P. Stewart & Co Ltd (Bermuda) |
|
| 20,300 |
|
| 252,938 |
|
Wilshire Bancorp Inc |
|
| 17,600 |
|
| 335,104 |
|
Wintrust Financial Corp |
|
| 19,300 |
|
| 967,895 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 5,037,878 |
|
|
|
|
|
|
| ||
Health Care - 8.56% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Apria Healthcare Group Inc * |
|
| 5,700 |
|
| 112,518 |
|
Computer Programs & Systems Inc |
|
| 12,000 |
|
| 393,240 |
|
Healthcare Services Group Inc |
|
| 8,600 |
|
| 216,376 |
|
Healthspring Inc * |
|
| 12,500 |
|
| 240,625 |
|
ICU Medical Inc * |
|
| 6,900 |
|
| 313,812 |
|
KV Pharmaceutical Co ‘A’ * |
|
| 15,600 |
|
| 369,720 |
|
Landauer Inc |
|
| 6,800 |
|
| 345,100 |
|
LCA-Vision Inc |
|
| 7,600 |
|
| 313,956 |
|
Young Innovations Inc |
|
| 9,300 |
|
| 334,428 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 2,639,775 |
|
|
|
|
|
|
| ||
Materials & Processing - 10.44% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AMCOL International Corp |
|
| 18,000 |
|
| 448,380 |
|
Cabot Microelectronics Corp * |
|
| 14,700 |
|
| 423,654 |
|
CLARCOR Inc |
|
| 10,200 |
|
| 310,998 |
|
Drew Industries Inc * |
|
| 11,700 |
|
| 295,542 |
|
Griffon Corp * |
|
| 8,400 |
|
| 200,508 |
|
Interline Brands Inc * |
|
| 18,300 |
|
| 451,644 |
|
RBC Bearings Inc * |
|
| 11,600 |
|
| 280,140 |
|
Rockwood Holdings Inc * |
|
| 21,600 |
|
| 431,568 |
|
Spartech Corp |
|
| 14,100 |
|
| 377,457 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 3,219,891 |
|
|
|
|
|
|
| ||
Producer Durables - 12.01% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ACCO Brands Corp * |
|
| 18,400 |
|
| 409,584 |
|
Actuant Corp ‘A’ |
|
| 13,600 |
|
| 681,360 |
|
Argon ST Inc * |
|
| 20,300 |
|
| 486,591 |
|
Bucyrus International Inc ‘A’ |
|
| 15,650 |
|
| 663,873 |
|
IDEX Corp |
|
| 6,500 |
|
| 279,825 |
|
Plantronics Inc |
|
| 13,200 |
|
| 231,396 |
|
Regal-Beloit Corp |
|
| 8,000 |
|
| 348,000 |
|
The Middleby Corp * |
|
| 7,800 |
|
| 601,068 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 3,701,697 |
|
|
|
|
|
|
| ||
Technology - 8.02% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
j2 Global Communications Inc * |
|
| 28,700 |
|
| 779,779 |
|
Kanbay International Inc * |
|
| 20,300 |
|
| 417,368 |
|
Methode Electronics Inc |
|
| 41,300 |
|
| 392,763 |
|
ScanSource Inc * |
|
| 29,100 |
|
| 882,603 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 2,472,513 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
Total Common Stocks |
|
|
|
|
| 29,860,834 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
TOTAL INVESTMENTS - 96.86% |
|
|
|
|
| 29,860,834 |
|
|
|
|
|
|
|
|
|
OTHER ASSETS & LIABILITIES, NET - 3.14% |
|
|
|
|
| 968,790 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
NET ASSETS - 100.00% |
|
|
|
| $ | 30,829,624 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
Note to Schedule of Investments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a) As of September 30, 2006, the Fund was diversified as a percentage of assets as follows: |
| ||||||
|
|
|
|
|
|
|
|
Consumer Discretionary |
|
|
|
|
| 23.32 | % |
Financial Services |
|
|
|
|
| 16.34 | % |
Producer Durables |
|
|
|
|
| 12.01 | % |
Autos & Transportation |
|
|
|
|
| 11.78 | % |
Materials & Processing |
|
|
|
|
| 10.44 | % |
Health Care |
|
|
|
|
| 8.56 | % |
Technology |
|
|
|
|
| 8.02 | % |
Energy |
|
|
|
|
| 6.39 | % |
|
|
|
|
|
| ||
|
|
|
|
|
| 96.86 | % |
Other Assets & Liabilities, Net |
|
|
|
|
| 3.14 | % |
|
|
|
|
|
| ||
|
|
|
|
|
| 100.00 | % |
|
|
|
|
|
|
|
|
See Notes to Financial Statements | See explanation of symbols and terms, if any, on page A-38 |
|
|
A-15 |
|
PACIFIC FUNDS |
PF OPPENHEIMER MAIN STREET® CORE FUND |
Summary Schedule of Investments |
September 30, 2006 (Unaudited) |
|
|
|
|
|
|
|
|
|
| Shares |
| Value |
| ||
|
|
|
| ||||
COMMON STOCKS - 98.91% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Autos & Transportation - 1.71% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Securities - 1.71% |
|
|
|
| $ | 1,107,415 |
|
|
|
|
|
|
| ||
Consumer Discretionary - 11.55% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Google Inc ‘A’ * - 1.18% |
|
| 1,900 |
|
| 763,610 |
|
Wal-Mart Stores Inc - 0.65% |
|
| 8,600 |
|
| 424,152 |
|
Other Securities - 9.72% |
|
|
|
|
| 6,297,915 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 7,485,677 |
|
|
|
|
|
|
| ||
Consumer Staples - 6.47% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Altria Group Inc - 1.42% |
|
| 12,000 |
|
| 918,600 |
|
PepsiCo Inc - 0.83% |
|
| 8,300 |
|
| 541,658 |
|
The Coca-Cola Co - 0.61% |
|
| 8,800 |
|
| 393,184 |
|
The Procter & Gamble Co - 1.12% |
|
| 11,700 |
|
| 725,166 |
|
Other Securities - 2.49% |
|
|
|
|
| 1,615,458 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 4,194,066 |
|
|
|
|
|
|
| ||
Energy - 2.57% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Securities - 2.57% |
|
|
|
|
| 1,665,581 |
|
|
|
|
|
|
| ||
Financial Services - 23.98% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
American International Group Inc - 0.74% |
|
| 7,200 |
|
| 477,072 |
|
Bank of America Corp - 2.39% |
|
| 28,954 |
|
| 1,551,066 |
|
Citigroup Inc - 2.35% |
|
| 30,700 |
|
| 1,524,869 |
|
First Data Corp - 0.60% |
|
| 9,200 |
|
| 386,400 |
|
JPMorgan Chase & Co - 1.76% |
|
| 24,300 |
|
| 1,141,128 |
|
Lehman Brothers Holdings Inc - 0.71% |
|
| 6,200 |
|
| 457,932 |
|
Merrill Lynch & Co Inc - 1.01% |
|
| 8,400 |
|
| 657,048 |
|
Morgan Stanley - 0.99% |
|
| 8,800 |
|
| 641,608 |
|
The Allstate Corp - 0.81% |
|
| 8,400 |
|
| 526,932 |
|
The Goldman Sachs Group Inc - 0.94% |
|
| 3,600 |
|
| 609,012 |
|
The St. Paul Travelers Cos Inc - - 0.60% |
|
| 8,300 |
|
| 389,187 |
|
U.S. Bancorp - 0.93% |
|
| 18,200 |
|
| 604,604 |
|
Wachovia Corp - 0.97% |
|
| 11,200 |
|
| 624,960 |
|
Wells Fargo & Co - 1.18% |
|
| 21,200 |
|
| 767,016 |
|
Other Securities - 8.00% |
|
|
|
|
| 5,186,387 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 15,545,221 |
|
|
|
|
|
|
| ||
Health Care - 11.59% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Johnson & Johnson - 1.69% |
|
| 16,900 |
|
| 1,097,486 |
|
Merck & Co Inc - 1.16% |
|
| 18,000 |
|
| 754,200 |
|
Pfizer Inc - 1.64% |
|
| 37,500 |
|
| 1,063,500 |
|
UnitedHealth Group Inc - 1.00% |
|
| 13,140 |
|
| 646,488 |
|
WellPoint Inc * - 0.84% |
|
| 7,055 |
|
| 543,588 |
|
Other Securities - 5.26% |
|
|
|
|
| 3,411,532 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 7,516,794 |
|
|
|
|
|
|
| ||
Integrated Oils - 7.72% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Chevron Corp - 1.40% |
|
| 14,000 |
|
| 908,040 |
|
ConocoPhillips - 0.93% |
|
| 10,175 |
|
| 605,718 |
|
Exxon Mobil Corp - 3.37% |
|
| 32,600 |
|
| 2,187,460 |
|
Marathon Oil Corp - 0.57% |
|
| 4,800 |
|
| 369,120 |
|
Occidental Petroleum Corp - 0.58% |
|
| 7,752 |
|
| 372,949 |
|
Other Securities - 0.87% |
|
|
|
|
| 562,039 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 5,005,326 |
|
|
|
|
|
|
| ||
Materials & Processing - 3.36% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Securities - 3.36% |
|
|
|
|
| 2,180,426 |
|
|
|
|
|
|
| ||
Multi-Industry - 4.31% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3M Co - 0.61% |
|
| 5,300 |
|
| 394,426 |
|
General Electric Co - 2.55% |
|
| 46,900 |
|
| 1,655,570 |
|
Other Securities - 1.15% |
|
|
|
|
| 747,252 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 2,797,248 |
|
|
|
|
|
|
| ||
Producer Durables - 5.44% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Lockheed Martin Corp - 0.70% |
|
| 5,300 |
|
| 456,118 |
|
Northrop Grumman Corp - 0.58% |
|
| 5,500 |
|
| 374,385 |
|
The Boeing Co - 0.69% |
|
| 5,700 |
|
| 449,445 |
|
Other Securities - 3.47% |
|
|
|
|
| 2,247,588 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 3,527,536 |
|
|
|
|
|
|
| ||
Technology - 15.31% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cisco Systems Inc * - 1.15% |
|
| 32,400 |
|
| 745,200 |
|
Dell Inc * - 0.90% |
|
| 25,500 |
|
| 582,420 |
|
General Dynamics Corp - 0.57% |
|
| 5,200 |
|
| 372,684 |
|
Hewlett-Packard Co - 1.09% |
|
| 19,300 |
|
| 708,117 |
|
Intel Corp - 1.18% |
|
| 37,100 |
|
| 763,147 |
|
International Business Machines Corp - 1.47% |
|
| 11,600 |
|
| 950,504 |
|
Microsoft Corp - 2.07% |
|
| 49,200 |
|
| 1,344,636 |
|
Motorola Inc - 0.75% |
|
| 19,400 |
|
| 485,000 |
|
Oracle Corp * - 1.07% |
|
| 39,000 |
|
| 691,860 |
|
Raytheon Co - 0.57% |
|
| 7,700 |
|
| 369,677 |
|
Texas Instruments Inc - 0.93% |
|
| 18,200 |
|
| 605,150 |
|
Other Securities - 3.56% |
|
|
|
|
| 2,308,222 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 9,926,617 |
|
|
|
|
|
|
| ||
Utilities - 4.90% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AT&T Inc - 0.63% |
|
| 12,591 |
|
| 409,963 |
|
BellSouth Corp - 0.57% |
|
| 8,600 |
|
| 367,650 |
|
Sprint Nextel Corp - 0.70% |
|
| 26,500 |
|
| 454,475 |
|
Verizon Communications Inc - 0.81% |
|
| 14,100 |
|
| 523,533 |
|
Other Securities - 2.19% |
|
|
|
|
| 1,420,927 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 3,176,548 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
Total Common Stocks |
|
|
|
|
| 64,128,455 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
TOTAL INVESTMENTS - 98.91% |
|
|
|
|
| 64,128,455 |
|
|
|
|
|
|
|
|
|
OTHER ASSETS & LIABILITIES, NET - 1.09% |
|
|
|
|
| 705,731 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
NET ASSETS - 100.00% |
|
|
|
| $ | 64,834,186 |
|
|
|
|
|
|
|
|
|
See Notes to Financial Statements | See explanation of symbols and terms, if any, on page A-38 |
|
|
A-16 |
|
PACIFIC FUNDS |
PF OPPENHEIMER MAIN STREET CORE FUND |
Summary Schedule of Investments (Continued) |
September 30, 2006 (Unaudited) |
Notes to Schedule of Investments
(a) As of September 30, 2006, the Fund was diversified as a percentage of net assets as follows:
|
|
|
|
|
|
|
|
Financial Services |
|
|
|
|
|
|
|
Technology |
|
|
|
|
| 23.98 | % |
Health Care |
|
|
|
|
| 15.31 | % |
Consumer Discretionary |
|
|
|
|
| 11.59 | % |
Integrated Oils |
|
|
|
|
| 11.55 | % |
Consumer Staples |
|
|
|
|
| 7.72 | % |
Producer Durables |
|
|
|
|
| 6.47 | % |
Utilities |
|
|
|
|
| 5.44 | % |
Multi-Industry |
|
|
|
|
| 4.90 | % |
Materials & Processing |
|
|
|
|
| 4.31 | % |
Energy |
|
|
|
|
| 3.36 | % |
Autos & Transportation |
|
|
|
|
| 2.57 | % |
|
|
|
|
|
| 1.71 | % |
|
|
|
|
|
| ||
|
|
|
|
|
| 98.91 | % |
Other Assets & Liabilities, Net |
|
|
|
|
| 1.09 | % |
|
|
|
|
|
| ||
|
|
|
|
|
| 100.00 | % |
|
|
|
|
|
|
(b) Other securities represent issues not identified as a top-fifty holding in terms of market value and issues or issuers not exceeding one percent of net assets individually or in aggregate, respectively, as of September 30, 2006.
(c) A Summary Schedule of Investments is presented for this fund. For information on availability of a complete Schedule of Investments, refer to the WHERE TO GO FOR MORE INFORMATION section of this report.
|
|
See Notes to Financial Statements | See explanation of symbols and terms, if any, on page A-38 |
|
|
A-17 |
|
PACIFIC FUNDS |
PF OPPENHEIMER EMERGING MARKETS FUND |
Schedule of Investments |
September 30, 2006 (Unaudited) |
|
|
|
|
|
|
|
|
|
| Shares |
| Value |
| ||
|
|
|
| ||||
PREFERRED STOCKS - 6.07% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Brazil - 5.75% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
America Latina Logistica SA |
|
| 56,000 |
| $ | 437,842 |
|
Banco Bradesco SA |
|
| 9,530 |
|
| 316,016 |
|
Cia de Bebidas das Americas ADR |
|
| 4,450 |
|
| 201,941 |
|
Cia Vale do Rio Doce ADR |
|
| 12,050 |
|
| 223,045 |
|
Eletropaulo Metropolitana de Sao Paulo SA ‘B’ * |
|
| 3,860,200 |
|
| 154,475 |
|
Lojas Americanas SA |
|
| 5,673,000 |
|
| 229,602 |
|
Petroleo Brasileiro SA ADR |
|
| 2,850 |
|
| 213,294 |
|
Sadia SA |
|
| 140,000 |
|
| 384,400 |
|
Tele Norte Leste Participacoes SA |
|
| 3,000 |
|
| 41,103 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 2,201,718 |
|
|
|
|
|
|
| ||
South Korea - 0.32% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Hyundai Motor Co + |
|
| 1,540 |
|
| 78,100 |
|
S-Oil Corp + |
|
| 865 |
|
| 45,598 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 123,698 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
Total Preferred Stocks |
|
|
|
|
| 2,325,416 |
|
|
|
|
|
|
| ||
COMMON STOCKS - 93.06% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bermuda - 0.39% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bunge Ltd |
|
| 1,400 |
|
| 81,130 |
|
Midland Holdings Ltd + |
|
| 16,000 |
|
| 7,528 |
|
Varitronix International Ltd + |
|
| 91,000 |
|
| 58,906 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 147,564 |
|
|
|
|
|
|
| ||
Brazil - 10.88% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
America Latina Logistica SA GDR ~ |
|
| 4,000 |
|
| 31,322 |
|
Aracruz Celulose SA ADR |
|
| 2,800 |
|
| 139,356 |
|
Banco Bradesco SA ADR |
|
| 4,700 |
|
| 156,745 |
|
Banco Nossa Caixa SA |
|
| 6,000 |
|
| 119,763 |
|
Cia Brasileira de Distribuicao Grupo Pao de Acucar ADR |
|
| 12,600 |
|
| 327,726 |
|
Cia de Bebidas das Americas ADR |
|
| 700 |
|
| 28,084 |
|
Cia Vale do Rio Doce ADR |
|
| 13,100 |
|
| 282,436 |
|
Cosan SA Industria e Comercio * |
|
| 2,000 |
|
| 32,424 |
|
Cyrela Brazil Realty SA Empreendimentos e Participacoes GDR ~ |
|
| 2,000 |
|
| 340,765 |
|
Diagnosticos da America SA * |
|
| 13,800 |
|
| 258,952 |
|
Empresa Brasileira de Aeronautica SA |
|
| 20,500 |
|
| 200,069 |
|
Gafisa SA * |
|
| 11,600 |
|
| 149,648 |
|
Natura Cosmeticos SA |
|
| 12,700 |
|
| 155,954 |
|
Petroleo Brasileiro SA ADR |
|
| 19,250 |
|
| 1,613,727 |
|
Tele Norte Leste Participacoes SA |
|
| 10,600 |
|
| 330,534 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 4,167,505 |
|
|
|
|
|
|
| ||
Canada - 1.17% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Inco Ltd |
|
| 3,600 |
|
| 274,441 |
|
Yamana Gold Inc |
|
| 18,900 |
|
| 174,825 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 449,266 |
|
|
|
|
|
|
| ||
Cayman Islands - 1.30% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GlobalSantaFe Corp |
|
| 7,300 |
|
| 364,927 |
|
Hutchison Telecommunications International Ltd * + |
|
| 74,000 |
|
| 130,953 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 495,880 |
|
|
|
|
|
|
| ||
Chile - 0.04% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Empresas Copec SA |
|
| 1,400 |
|
| 14,128 |
|
|
|
|
|
|
| ||
China - 2.40% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
China Merchants Bank Co Ltd ‘H’ * |
|
| 18,000 |
|
| 25,369 |
|
China Oilfield Services Ltd ‘H’ + |
|
| 62,000 |
|
| 33,280 |
|
China Petroleum & Chemical Corp ‘H’ + |
|
| 610,000 |
|
| 378,108 |
|
China Shenhua Energy Co Ltd ‘H’ + |
|
| 111,000 |
|
| 178,558 |
|
PetroChina Co Ltd ‘H’ + |
|
| 166,000 |
|
| 178,692 |
|
Yanzhou Coal Mining Co Ltd ‘H’ + |
|
| 185,000 |
|
| 126,470 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 920,477 |
|
|
|
|
|
|
| ||
Egypt - 3.36% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial International Bank GDR + |
|
| 1,650 |
|
| 13,029 |
|
Commercial International Bank GDR ~ |
|
| 9,600 |
|
| 77,055 |
|
Commercial International Bank SP GDR + |
|
| 14,400 |
|
| 113,703 |
|
Eastern Tobacco Co + |
|
| 3,767 |
|
| 196,696 |
|
Medinet Nasr Housing & Development |
|
| 6,015 |
|
| 93,112 |
|
Orascom Construction Industries |
|
| 396 |
|
| 17,259 |
|
Orascom Telecom Holding SAE + |
|
| 8,546 |
|
| 486,944 |
|
Vodafone Egypt Telecommunications SAE |
|
| 17,166 |
|
| 288,939 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 1,286,737 |
|
|
|
|
|
|
| ||
France - 0.73% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Technip SA + |
|
| 4,880 |
|
| 278,071 |
|
|
|
|
|
|
| ||
Greece - 0.08% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Folli-Follie SA + |
|
| 1,100 |
|
| 31,927 |
|
|
|
|
|
|
| ||
Hong Kong - 0.17% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Television Broadcasts Ltd + |
|
| 12,000 |
|
| 64,667 |
|
|
|
|
|
|
| ||
Hungary - 0.59% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OTP Bank Rt + |
|
| 7,200 |
|
| 227,195 |
|
|
|
|
|
|
| ||
India - 14.85% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amtek Auto Ltd |
|
| 40,200 |
|
| 288,950 |
|
Bajaj Auto Ltd + |
|
| 2,600 |
|
| 169,470 |
|
Bharat Electronics Ltd + |
|
| 3,200 |
|
| 80,719 |
|
Bharat Heavy Electricals Ltd + |
|
| 4,850 |
|
| 252,810 |
|
Bharti Airtel Ltd * + |
|
| 29,400 |
|
| 300,562 |
|
Divi’s Laboratories Ltd + |
|
| 2,659 |
|
| 127,676 |
|
Dr. Reddy’s Laboratories Ltd + |
|
| 700 |
|
| 11,143 |
|
GAIL India Ltd + |
|
| 40,410 |
|
| 231,405 |
|
Gateway Distriparks Ltd + |
|
| 12,000 |
|
| 42,940 |
|
HCL Technologies Ltd + |
|
| 22,345 |
|
| 267,546 |
|
Housing Development Finance Corp + |
|
| 16,200 |
|
| 540,187 |
|
ICICI Bank Ltd ADR |
|
| 9,800 |
|
| 300,958 |
|
Infosys Technologies Ltd + |
|
| 12,800 |
|
| 515,409 |
|
Infosys Technologies Ltd ADR |
|
| 4,700 |
|
| 224,331 |
|
ITC Ltd + |
|
| 52,600 |
|
| 214,887 |
|
Larsen & Toubro Ltd + |
|
| 15,600 |
|
| 431,954 |
|
Mahindra & Mahindra Ltd + |
|
| 16,460 |
|
| 243,742 |
|
Oil & Natural Gas Corp Ltd + |
|
| 3,300 |
|
| 83,981 |
|
Ranbaxy Laboratories Ltd + |
|
| 9,008 |
|
| 86,147 |
|
Reliance Capital Ltd + |
|
| 9,800 |
|
| 121,681 |
|
Reliance Industries Ltd + |
|
| 17,500 |
|
| 446,129 |
|
Reliance Natural Resources Ltd * + |
|
| 22,700 |
|
| 11,023 |
|
Rico Auto Industries Ltd + |
|
| 34,100 |
|
| 61,482 |
|
Tata Consultancy Services Ltd + |
|
| 21,212 |
|
| 471,926 |
|
Trent Ltd + |
|
| 2,674 |
|
| 51,553 |
|
United Breweries Holdings Ltd + |
|
| 9,300 |
|
| 53,806 |
|
United Breweries Ltd + |
|
| 19,290 |
|
| 57,700 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 5,690,117 |
|
|
|
|
|
|
|
|
|
See Notes to Financial Statements | See explanation of symbols and terms, if any, on page A-38 |
|
|
A-18 |
|
PACIFIC FUNDS |
PF OPPENHEIMER EMERGING MARKETS FUND |
Schedule of Investments (Continued) |
September 30, 2006 (Unaudited) |
|
|
|
|
|
|
|
|
|
| Shares |
| Value |
| ||
|
|
|
| ||||
Indonesia - 4.98% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
P.T. Aneka Tambang Tbk + |
|
| 600,100 |
| $ | 357,374 |
|
P.T. Astra International Tbk + |
|
| 140,500 |
|
| 189,371 |
|
P.T. Bank Mandiri Persero Tbk + |
|
| 957,000 |
|
| 240,706 |
|
P.T. Gudang Garam Tbk + |
|
| 172,500 |
|
| 193,515 |
|
P.T. Indosat Tbk + |
|
| 860,000 |
|
| 478,311 |
|
P.T. Telekomunikasi Indonesia Tbk + |
|
| 490,500 |
|
| 446,284 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 1,905,561 |
|
|
|
|
|
|
| ||
Israel - 2.35% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bank Hapoalim BM + |
|
| 51,155 |
|
| 241,179 |
|
Bank Leumi Le-Israel BM + |
|
| 58,300 |
|
| 228,230 |
|
Elbit Systems Ltd + |
|
| 519 |
|
| 15,736 |
|
Israel Discount Bank Ltd ‘A’ * + |
|
| 73,300 |
|
| 137,997 |
|
Makhteshim-Agan Industries Ltd + |
|
| 1,900 |
|
| 9,369 |
|
ORMAT Industries Ltd + |
|
| 1,900 |
|
| 19,003 |
|
Teva Pharmaceutical Industries Ltd ADR |
|
| 7,300 |
|
| 248,857 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 900,371 |
|
|
|
|
|
|
| ||
Lebanon - 0.31% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Solidere GDR ~ |
|
| 6,600 |
|
| 120,384 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
Luxembourg - 0.68% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tenaris SA ADR |
|
| 7,400 |
|
| 261,812 |
|
|
|
|
|
|
| ||
Mexico - 6.30% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
America Movil SA de CV ‘L’ ADR |
|
| 21,000 |
|
| 826,770 |
|
Cemex SAB de CV ADR * |
|
| 6,710 |
|
| 201,837 |
|
Consorcio ARA SA de CV |
|
| 23,800 |
|
| 116,878 |
|
Corporacion GEO SA de CV ‘B’ * |
|
| 40,900 |
|
| 172,060 |
|
Corporacion Interamericana de Entretenimiento SA de CV ‘B’ * |
|
| 47,200 |
|
| 84,620 |
|
Empresas ICA SA de CV * |
|
| 61,117 |
|
| 220,140 |
|
Fomento Economico Mexicano SA de CV ADR |
|
| 2,350 |
|
| 227,809 |
|
Grupo Financiero Banorte SA de CV ‘O’ |
|
| 17,100 |
|
| 53,521 |
|
Grupo Financiero Inbursa SA de CV ‘O’ |
|
| 100,700 |
|
| 176,321 |
|
Impulsora del Desarrollo y el Empleo en America Latina SA de CV * |
|
| 126,800 |
|
| 122,832 |
|
SARE Holding SA de CV ‘B’ * |
|
| 190,396 |
|
| 211,282 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 2,414,070 |
|
|
|
|
|
|
| ||
Norway - 0.28% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Det Norske Oljeselskap ASA * + |
|
| 77,668 |
|
| 108,468 |
|
|
|
|
|
|
| ||
Panama - 0.47% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Banco Latinoamericano de Exportaciones SA ‘E’ |
|
| 11,500 |
|
| 179,630 |
|
|
|
|
|
|
| ||
Philippines - 1.11% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Jollibee Foods Corp + |
|
| 151,200 |
|
| 107,435 |
|
SM Prime Holdings Inc + |
|
| 1,876,395 |
|
| 316,135 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 423,570 |
|
|
|
|
|
|
| ||
Portugal - 0.30% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Jeronimo Martins Sociedade Gestora de Participacoes Sociais SA + |
|
| 6,500 |
|
| 116,047 |
|
|
|
|
|
|
| ||
Russia - 2.62% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LUKOIL ADR |
|
| 7,100 |
|
| 535,695 |
|
Surgutneftegaz OJSC ADR |
|
| 7,210 |
|
| 467,929 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 1,003,624 |
|
|
|
|
|
|
| ||
Singapore - 0.83% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Keppel Corp Ltd + |
|
| 19,000 |
|
| 176,591 |
|
SembCorp Marine Ltd + |
|
| 68,000 |
|
| 142,814 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 319,405 |
|
|
|
|
|
|
| ||
South Africa - 5.91% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Anglo Platinum Ltd + |
|
| 5,300 |
|
| 533,373 |
|
AngloGold Ashanti Ltd ADR |
|
| 12,400 |
|
| 467,976 |
|
Aveng Ltd + |
|
| 8,133 |
|
| 28,704 |
|
Harmony Gold Mining Co Ltd ADR * |
|
| 7,800 |
|
| 100,854 |
|
Impala Platinum Holdings Ltd + |
|
| 1,950 |
|
| 320,877 |
|
JD Group Ltd + |
|
| 6,900 |
|
| 57,609 |
|
Liberty Group Ltd + |
|
| 9,800 |
|
| 92,248 |
|
Massmart Holdings Ltd + |
|
| 15,400 |
|
| 112,398 |
|
Murray & Roberts Holdings Ltd + |
|
| 34,260 |
|
| 140,508 |
|
Standard Bank Group Ltd + |
|
| 10,500 |
|
| 104,670 |
|
Steinhoff International Holdings Ltd + |
|
| 72,400 |
|
| 233,023 |
|
Tiger Brands Ltd + |
|
| 3,896 |
|
| 70,765 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 2,263,005 |
|
|
|
|
|
|
| ||
South Korea - 12.35% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Able C&C Co Ltd + |
|
| 1,768 |
|
| 13,957 |
|
AmorePacific Corp * |
|
| 341 |
|
| 158,477 |
|
Daegu Bank + |
|
| 7,080 |
|
| 118,684 |
|
FINETEC Corp + |
|
| 7,088 |
|
| 107,819 |
|
GS Engineering & Construction Corp + |
|
| 1,380 |
|
| 96,517 |
|
Hana Financial Holdings + |
|
| 5,583 |
|
| 255,794 |
|
Humax Co Ltd + |
|
| 15,010 |
|
| 418,111 |
|
Hyundai Development Co + |
|
| 2,360 |
|
| 105,362 |
|
Hyundai Engineering & Construction Co Ltd * + |
|
| 4,521 |
|
| 243,070 |
|
Hyundai Motor Co + |
|
| 4,127 |
|
| 352,959 |
|
Jeonbuk Bank + |
|
| 10,325 |
|
| 93,805 |
|
Kia Motors Corp + |
|
| 17,600 |
|
| 285,393 |
|
Kookmin Bank ADR |
|
| 2,700 |
|
| 210,681 |
|
Korea Investment Holdings Co Ltd + |
|
| 3,530 |
|
| 152,626 |
|
Kyeryong Construction Industrial Co Ltd + |
|
| 2,470 |
|
| 97,440 |
|
LG Corp + |
|
| 2,440 |
|
| 70,925 |
|
Mirae Asset Securities Co Ltd + |
|
| 2,421 |
|
| 163,626 |
|
NHN Corp * + |
|
| 723 |
|
| 75,716 |
|
Pacific Corp |
|
| 159 |
|
| 21,760 |
|
S-Oil Corp + |
|
| 3,422 |
|
| 228,584 |
|
Samsung Electronics Co Ltd + |
|
| 812 |
|
| 569,268 |
|
Shinhan Financial Group Co Ltd + |
|
| 2,870 |
|
| 129,053 |
|
Shinsegae Co Ltd + |
|
| 205 |
|
| 106,110 |
|
SK Telecom Co Ltd ADR |
|
| 3,800 |
|
| 89,794 |
|
SsangYong Motor Co * + |
|
| 51,798 |
|
| 252,170 |
|
Telechips Inc + |
|
| 2,348 |
|
| 57,152 |
|
Woori Finance Holdings Co Ltd + |
|
| 9,900 |
|
| 208,648 |
|
Yedang Entertainment Co Ltd * + |
|
| 7,107 |
|
| 45,975 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 4,729,476 |
|
|
|
|
|
|
| ||
Taiwan - 12.76% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cathay Financial Holding Co Ltd + |
|
| 184,303 |
|
| 369,387 |
|
China Motor Corp + |
|
| 1,080 |
|
| 940 |
|
Continental Engineering Corp + |
|
| 73,130 |
|
| 40,281 |
|
Far Eastern Textile Ltd + |
|
| 59,360 |
|
| 44,016 |
|
Fubon Financial Holding Co Ltd + |
|
| 453,000 |
|
| 375,330 |
|
Fubon Financial Holding Co Ltd GDR |
|
| 5,900 |
|
| 48,933 |
|
High Tech Computer Corp + |
|
| 15,200 |
|
| 401,818 |
|
Hon Hai Precision Industry Co Ltd + |
|
| 106,000 |
|
| 645,156 |
|
Inventec Appliances Corp + |
|
| 91,000 |
|
| 281,202 |
|
Inventec Co Ltd + |
|
| 283,600 |
|
| 184,368 |
|
Lite-On Technology Corp + |
|
| 177,871 |
|
| 219,692 |
|
Merry Electronics Co Ltd + |
|
| 54,125 |
|
| 193,429 |
|
MiTAC International Corp + |
|
| 126,319 |
|
| 133,023 |
|
Motech Industries Inc + |
|
| 3,307 |
|
| 46,989 |
|
Powerchip Semiconductor Corp + |
|
| 12,491 |
|
| 7,967 |
|
|
|
|
See Notes to Financial Statements |
| See explanation of symbols and terms, if any, on page A-38 |
|
|
|
A-19 |
|
PACIFIC FUNDS |
PF OPPENHEIMER EMERGING MARKETS FUND |
Schedule of Investments (Continued) |
September 30, 2006 (Unaudited) |
|
|
|
|
|
|
|
|
|
| Shares |
| Value |
| ||
|
|
|
| ||||
President Chain Store Corp + |
|
| 54,000 |
| $ | 116,407 |
|
Quanta Computer Inc + |
|
| 189,300 |
|
| 271,006 |
|
Shin Kong Financial Holding Co Ltd + |
|
| 44,657 |
|
| 41,097 |
|
Sunplus Technology Co Ltd + |
|
| 225,565 |
|
| 215,385 |
|
Synnex Technology International Corp + |
|
| 118,800 |
|
| 105,829 |
|
Taiwan Fertilizer Co Ltd + |
|
| 10,000 |
|
| 16,258 |
|
Taiwan Semiconductor Manufacturing Co Ltd + |
|
| 92,000 |
|
| 166,047 |
|
Taiwan Semiconductor Manufacturing Co Ltd ADR |
|
| 49,900 |
|
| 479,040 |
|
Uni-President Enterprises Corp + |
|
| 61,000 |
|
| 53,694 |
|
United Microelectronics Corp + |
|
| 767,200 |
|
| 429,325 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 4,886,619 |
|
|
|
|
|
|
| ||
Thailand - 1.02% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Advanced Info Service PCL + |
|
| 35,300 |
|
| 84,359 |
|
Kiatnakin Bank PCL + |
|
| 71,600 |
|
| 56,059 |
|
TISCO Bank PCL + |
|
| 88,100 |
|
| 52,024 |
|
TMB Bank PCL * + |
|
| 2,450,763 |
|
| 198,173 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 390,615 |
|
|
|
|
|
|
| ||
Turkey - 3.97% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Aksigorta AS + |
|
| 55,000 |
|
| 204,381 |
|
Anadolu Anonim Turk Sigorta Sirketi + |
|
| 5,900 |
|
| 9,294 |
|
Ford Otomotiv Sanayi AS + |
|
| 11,141 |
|
| 72,642 |
|
Haci Omer Sabanci Holding AS + |
|
| 88,800 |
|
| 312,768 |
|
Haci Omer Sabanci Holding AS ADR |
|
| 71,700 |
|
| 63,404 |
|
Koc Holding AS * + |
|
| 78,638 |
|
| 251,757 |
|
Tupras Turkiye Petrol Rafinerileri AS + |
|
| 12,800 |
|
| 195,630 |
|
Turkcell Iletisim Hizmetleri AS + |
|
| 5,107 |
|
| 26,235 |
|
Turkiye Is Bankasi ‘C’ + |
|
| 22,300 |
|
| 118,103 |
|
Turkiye Vakiflar Bankasi TAO ‘D’ + |
|
| 60,700 |
|
| 266,881 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 1,521,095 |
|
|
|
|
|
|
| ||
United Kingdom - 0.38% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Highland Gold Mining Ltd * + |
|
| 44,943 |
|
| 145,944 |
|
|
|
|
|
|
| ||
United States - 0.48% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Hydril Co LP * |
|
| 3,300 |
|
| 184,998 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Common Stocks |
|
|
|
|
|
|
|
(Cost $32,577,437) |
|
|
|
|
| 35,648,228 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
SHORT-TERM INVESTMENT - 2.57% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Money Market Fund - 2.57% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BlackRock Liquidity Funds Institutional TempFund |
|
| 982,587 |
|
| 982,587 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
Total Short-Term Investment |
|
|
|
|
|
|
|
(Cost $982,587) |
|
|
|
|
| 982,587 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
TOTAL INVESTMENTS - 101.70% |
|
|
|
|
|
|
|
(Cost $35,631,652) |
|
|
|
|
| 38,956,231 |
|
|
|
|
|
|
|
|
|
OTHER ASSETS & LIABILITIES, NET - (1.70%) |
|
|
|
|
| (649,889 | ) |
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
NET ASSETS - 100.00% |
|
|
|
| $ | 38,306,342 |
|
|
|
|
|
|
|
|
|
|
|
|
Notes to Schedule of Investments |
|
|
|
|
|
|
|
|
|
(a) As of September 30, 2006, the Fund was diversified by sector as a percentage of net assets as follows: | ||||
|
|
|
|
|
Financial Services |
|
| 20.07 | % |
Technology |
|
| 16.11 | % |
Integrated Oils |
|
| 12.34 | % |
Utilities |
|
| 10.25 | % |
Materials & Processing |
|
| 9.82 | % |
Autos & Transportation |
|
| 6.92 | % |
Consumer Discretionary |
|
| 5.53 | % |
Producer Durables |
|
| 5.37 | % |
Multi-Industry |
|
| 5.32 | % |
Consumer Staples |
|
| 4.54 | % |
Short-Term Investment |
|
| 2.57 | % |
Health Care |
|
| 1.91 | % |
Energy |
|
| 0.95 | % |
|
|
| ||
|
|
| 101.70 | % |
Other Assets & Liabilities, Net |
|
| (1.70 | %) |
|
|
| ||
|
|
| 100.00 | % |
|
|
| ||
|
|
|
|
|
(b) As of September 30, 2006, the Fund was diversified by geographical region as a percentage of net assets as follows: | ||||
|
|
|
|
|
Brazil |
|
| 16.63 | % |
India |
|
| 14.85 | % |
Taiwan |
|
| 12.76 | % |
South Korea |
|
| 12.67 | % |
Mexico |
|
| 6.30 | % |
South Africa |
|
| 5.91 | % |
Indonesia |
|
| 4.98 | % |
Turkey |
|
| 3.97 | % |
Egypt |
|
| 3.36 | % |
United States |
|
| 3.05 | % |
Russia |
|
| 2.62 | % |
China |
|
| 2.40 | % |
Israel |
|
| 2.35 | % |
Cayman Islands |
|
| 1.30 | % |
Canada |
|
| 1.17 | % |
Philippines |
|
| 1.11 | % |
Thailand |
|
| 1.02 | % |
Singapore |
|
| 0.83 | % |
France |
|
| 0.73 | % |
Luxembourg |
|
| 0.68 | % |
Hungary |
|
| 0.59 | % |
Panama |
|
| 0.47 | % |
Bermuda |
|
| 0.39 | % |
United Kingdom |
|
| 0.38 | % |
Lebanon |
|
| 0.31 | % |
Portugal |
|
| 0.30 | % |
Norway |
|
| 0.28 | % |
Hong Kong |
|
| 0.17 | % |
Greece |
|
| 0.08 | % |
Chile |
|
| 0.04 | % |
|
|
| ||
|
|
| 101.70 | % |
Other Assets & Liabilities, Net |
|
| (1.70 | %) |
|
|
| ||
|
|
| 100.00 | % |
|
|
|
|
|
|
See Notes to Financial Statements |
| See explanation of symbols and terms, if any, on page A-38 |
|
|
|
A-20 |
|
PACIFIC FUNDS |
PF PIMCO MANAGED BOND FUND |
Schedule of Investments |
September 30, 2006 (Unaudited) |
|
|
|
|
|
|
|
|
|
| Principal |
| Value |
| ||
|
|
|
| ||||
CORPORATE BONDS & NOTES - 4.37% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Autos & Transportation - 0.12% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DaimlerChrysler NA Holding Corp |
|
|
|
|
|
|
|
5.640% due 03/07/07 § |
| $ | 100,000 |
| $ | 100,033 |
|
|
|
|
|
|
| ||
Consumer Staples - 0.13% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reynolds American Inc |
|
|
|
|
|
|
|
7.625% due 06/01/16 ~ |
|
| 100,000 |
|
| 104,231 |
|
|
|
|
|
|
| ||
Energy - 0.36% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Colorado Interstate Gas Co |
|
|
|
|
|
|
|
6.800% due 11/15/15 |
|
| 200,000 |
|
| 202,559 |
|
The Williams Cos Inc |
|
|
|
|
|
|
|
6.375% due 10/01/10 ~ |
|
| 100,000 |
|
| 100,000 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 302,559 |
|
|
|
|
|
|
| ||
Financial Services - 2.42% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bank of America Corp |
|
|
|
|
|
|
|
4.875% due 01/15/13 |
|
| 100,000 |
|
| 98,107 |
|
CIT Group Inc |
|
|
|
|
|
|
|
7.750% due 04/02/12 |
|
| 100,000 |
|
| 110,846 |
|
Citigroup Inc |
|
|
|
|
|
|
|
5.625% due 08/27/12 |
|
| 50,000 |
|
| 50,973 |
|
Export-Import Bank of Korea (South Korea) |
|
|
|
|
|
|
|
5.590% due 10/04/11 ~ § |
|
| 800,000 |
|
| 798,944 |
|
Ford Motor Credit Co |
|
|
|
|
|
|
|
7.000% due 10/01/13 |
|
| 300,000 |
|
| 278,725 |
|
7.250% due 10/25/11 |
|
| 200,000 |
|
| 188,810 |
|
Merrill Lynch & Co |
|
|
|
|
|
|
|
5.492% due 08/14/09 § |
|
| 400,000 |
|
| 400,308 |
|
Morgan Stanley |
|
|
|
|
|
|
|
5.300% due 03/01/13 |
|
| 100,000 |
|
| 99,980 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 2,026,693 |
|
|
|
|
|
|
| ||
Integrated Oils - 0.49% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Enterprise Products Operating LP |
|
|
|
|
|
|
|
4.625% due 10/15/09 |
|
| 100,000 |
|
| 97,808 |
|
Occidental Petroleum Corp |
|
|
|
|
|
|
|
8.450% due 02/15/29 |
|
| 100,000 |
|
| 132,880 |
|
Pemex Project Funding Master Trust |
|
|
|
|
|
|
|
7.375% due 12/15/14 |
|
| 50,000 |
|
| 54,175 |
|
9.250% due 03/30/18 |
|
| 100,000 |
|
| 123,650 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 408,513 |
|
|
|
|
|
|
| ||
Utilities - 0.85% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Entergy Gulf States Inc |
|
|
|
|
|
|
|
3.600% due 06/01/08 |
|
| 100,000 |
|
| 96,981 |
|
PSEG Energy Holdings LLC |
|
|
|
|
|
|
|
8.625% due 02/15/08 |
|
| 400,000 |
|
| 417,000 |
|
Qwest Communications International Inc |
|
|
|
|
|
|
|
7.500% due 02/15/14 |
|
| 100,000 |
|
| 100,750 |
|
SBC Communications Inc |
|
|
|
|
|
|
|
4.125% due 09/15/09 |
|
| 100,000 |
|
| 96,904 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 711,635 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
Total Corporate Bonds & Notes |
|
|
|
|
|
|
|
(Cost $3,601,041) |
|
|
|
|
| 3,653,664 |
|
|
|
|
|
|
| ||
MORTGAGE-BACKED SECURITIES - 75.02% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Collateralized Mortgage Obligations - 12.99% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjustable Rate Mortgage Trust |
|
|
|
|
|
|
|
4.593% due 05/25/35 “ § |
|
| 183,984 |
|
| 180,906 |
|
Banc of America Funding Corp |
|
|
|
|
|
|
|
4.114% due 05/25/35 “ § |
|
| 326,367 |
|
| 322,173 |
|
Banc of America Mortgage Securities |
|
|
|
|
|
|
|
3.994% due 07/25/33 “ § |
|
| 214,574 |
|
| 204,517 |
|
5.000% due 05/25/34 “ |
|
| 131,041 |
|
| 129,382 |
|
Bear Stearns Adjustable Rate Mortgage Trust |
|
|
|
|
|
|
|
4.625% due 10/25/35 “ § |
|
| 817,188 |
|
| 797,603 |
|
4.750% due 10/25/35 “ § |
|
| 241,725 |
|
| 238,503 |
|
Bear Stearns Alt-A Trust |
|
|
|
|
|
|
|
5.395% due 05/25/35 “ § |
|
| 129,448 |
|
| 129,645 |
|
5.840% due 10/25/36 “ § |
|
| 200,000 |
|
| 200,156 |
|
Citigroup Mortgage Loan Trust Inc |
|
|
|
|
|
|
|
4.700% due 12/25/35 “ § |
|
| 276,531 |
|
| 272,117 |
|
Countrywide Home Loan Mortgage |
|
|
|
|
|
|
|
Pass-Through Trust |
|
|
|
|
|
|
|
5.650% due 03/25/35 “ § |
|
| 110,440 |
|
| 110,970 |
|
5.670% due 06/25/35 ~ “ § |
|
| 370,040 |
|
| 369,714 |
|
CS First Boston Mortgage Securities Corp |
|
|
|
|
|
|
|
5.607% due 03/25/32 ~ “ § |
|
| 35,102 |
|
| 35,113 |
|
5.660% due 03/25/32 ~ “ § |
|
| 30,403 |
|
| 30,436 |
|
6.000% due 11/25/35 “ |
|
| 321,814 |
|
| 324,452 |
|
Fannie Mae |
|
|
|
|
|
|
|
4.000% due 08/25/09 “ |
|
| 32,951 |
|
| 32,856 |
|
6.625% due 11/25/23 “ § |
|
| 772,706 |
|
| 787,313 |
|
Freddie Mac |
|
|
|
|
|
|
|
2.750% due 02/15/12 “ |
|
| 20,862 |
|
| 20,832 |
|
4.000% due 06/15/22-10/15/23 “ ± |
|
| 2,043,020 |
|
| 2,010,486 |
|
5.000% due 09/15/16-05/15/19 “ ± |
|
| 200,622 |
|
| 200,200 |
|
6.250% due 04/15/23 “ |
|
| 57,668 |
|
| 57,804 |
|
Freddie Mac Structured Pass-Through Securities |
|
|
|
|
|
|
|
5.632% due 10/25/44 “ § |
|
| 170,570 |
|
| 172,403 |
|
5.832% due 07/25/44 “ § |
|
| 941,792 |
|
| 954,134 |
|
GMAC Mortgage Corp Loan Trust |
|
|
|
|
|
|
|
5.500% due 09/25/34 “ |
|
| 125,065 |
|
| 124,480 |
|
Harborview Mortgage Loan Trust |
|
|
|
|
|
|
|
5.550% due 05/19/35 “ § |
|
| 117,189 |
|
| 117,519 |
|
Lehman Brothers Floating Rate Commercial Mortgage Trust |
|
|
|
|
|
|
|
5.410% due 09/15/21 ~ “ § |
|
| 398,198 |
|
| 398,450 |
|
Mellon Residential Funding Corp |
|
|
|
|
|
|
|
5.570% due 06/15/30 “ § |
|
| 32,844 |
|
| 32,615 |
|
MLCC Mortgage Investors Inc |
|
|
|
|
|
|
|
5.710% due 03/15/25 “ § |
|
| 61,691 |
|
| 61,996 |
|
Residential Asset Securitization Trust |
|
|
|
|
|
|
|
5.730% due 05/25/33 “ § |
|
| 75,128 |
|
| 75,421 |
|
Small Business Administration |
|
|
|
|
|
|
|
4.754% due 08/10/14 “ |
|
| 175,387 |
|
| 170,885 |
|
Structured Asset Mortgage Investments Inc |
|
|
|
|
|
|
|
5.550% due 05/25/36 “ § |
|
| 391,231 |
|
| 391,815 |
|
Structured Asset Securities Corp |
|
|
|
|
|
|
|
5.000% due 12/25/34 “ |
|
| 281,987 |
|
| 280,032 |
|
Washington Mutual Inc |
|
|
|
|
|
|
|
5.106% due 10/25/32 “ § |
|
| 25,366 |
|
| 25,224 |
|
5.427% due 02/27/34 “ § |
|
| 20,295 |
|
| 20,651 |
|
5.590% due 09/25/46 “ § |
|
| 199,353 |
|
| 199,353 |
|
5.600% due 12/25/27 “ § |
|
| 180,914 |
|
| 180,958 |
|
5.640% due 01/25/45 “ § |
|
| 103,896 |
|
| 104,596 |
|
5.650% due 01/25/45 “ § |
|
| 103,813 |
|
| 104,209 |
|
5.963% due 08/25/42 “ § |
|
| 27,442 |
|
| 27,558 |
|
Wells Fargo Mortgage-Backed Securities Trust |
|
|
|
|
|
|
|
3.989% due 12/25/34 “ § |
|
| 387,329 |
|
| 379,101 |
|
4.319% due 07/25/35 “ § |
|
| 400,000 |
|
| 391,305 |
|
5.539% due 08/25/36 “ § |
|
| 193,333 |
|
| 193,205 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 10,861,088 |
|
|
|
|
|
|
|
|
|
|
See Notes to Financial Statements |
| See explanation of symbols and terms, if any, on page A-38 |
|
|
|
A-21 |
|
PACIFIC FUNDS |
PF PIMCO MANAGED BOND FUND |
Schedule of Investments (Continued) |
September 30, 2006 (Unaudited) |
|
|
|
|
|
|
|
|
|
| Principal |
| Value |
| ||
|
|
|
| ||||
Fannie Mae - 59.19% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3.852% due 10/01/33 “ § |
| $ | 1,219,711 |
| $ | 1,199,108 |
|
4.190% due 11/01/34 “ § |
|
| 613,937 |
|
| 604,913 |
|
4.886% due 12/01/35 “ § |
|
| 337,839 |
|
| 335,378 |
|
5.000% due 08/01/20-11/01/35 “ ± |
|
| 2,528,668 |
|
| 2,474,398 |
|
5.500% due 12/01/14-07/01/36 “ ± |
|
| 19,353,707 |
|
| 19,090,467 |
|
5.500% due 10/15/21 # “ |
|
| 4,000,000 |
|
| 3,931,248 |
|
5.632% due 10/01/44 “ § |
|
| 230,057 |
|
| 231,003 |
|
6.000% due 09/01/22-01/01/23 “ ± |
|
| 247,287 |
|
| 250,869 |
|
6.000% due 10/15/36 # “ |
|
| 15,000,000 |
|
| 15,070,320 |
|
6.104% due 12/01/36 “ § |
|
| 48,929 |
|
| 49,281 |
|
6.500% due 03/01/17 “ |
|
| 157,360 |
|
| 160,921 |
|
6.500% due 10/15/36 # “ |
|
| 6,000,000 |
|
| 6,110,628 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 49,508,534 |
|
|
|
|
|
|
| ||
Freddie Mac - 2.84% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4.714% due 06/01/35 “ § |
|
| 1,160,934 |
|
| 1,172,019 |
|
5.367% due 09/01/35 # “ § |
|
| 477,937 |
|
| 477,936 |
|
5.500% due 08/01/07-03/01/23 “ ± |
|
| 124,313 |
|
| 123,923 |
|
5.714% due 04/01/32 “ § |
|
| 183,328 |
|
| 188,023 |
|
5.917% due 11/01/31 “ § |
|
| 34,230 |
|
| 34,421 |
|
6.000% due 12/01/22-03/01/23 “ ± |
|
| 376,825 |
|
| 382,138 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 2,378,460 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
Total Mortgage-Backed Securities |
|
|
|
|
|
|
|
(Cost $63,066,087) |
|
|
|
|
| 62,748,082 |
|
|
|
|
|
|
| ||
ASSET-BACKED SECURITIES - 4.09% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Argent Securities Inc |
|
|
|
|
|
|
|
5.376% due 10/25/36 “ § |
|
| 400,000 |
|
| 400,000 |
|
Asset Backed Funding Certificates |
|
|
|
|
|
|
|
5.680% due 06/25/34 “ § |
|
| 362,302 |
|
| 363,586 |
|
Chevy Chase Mortgage Funding Corp |
|
|
|
|
|
|
|
5.580% due 08/25/35 ~ “ § |
|
| 390,085 |
|
| 390,481 |
|
Citibank Credit Card Issuance Trust |
|
|
|
|
|
|
|
5.460% due 03/20/09 “ § |
|
| 400,000 |
|
| 400,435 |
|
DaimlerChrysler Auto Trust |
|
|
|
|
|
|
|
3.750% due 12/08/07 “ |
|
| 3,922 |
|
| 3,923 |
|
Lehman XS Trust |
|
|
|
|
|
|
|
5.410% due 07/25/46 “ § |
|
| 377,823 |
|
| 373,912 |
|
Long Beach Mortgage Loan Trust |
|
|
|
|
|
|
|
5.610% due 10/25/34 “ § |
|
| 279,766 |
|
| 280,111 |
|
Morgan Stanley Dean Witter Capital I Inc Trust |
|
|
|
|
|
|
|
5.660% due 07/25/32 “ § |
|
| 974 |
|
| 985 |
|
New Century Home Equity Loan Trust |
|
|
|
|
|
|
|
5.420% due 07/25/35 “ § |
|
| 10,710 |
|
| 10,717 |
|
Saxon Asset Securities Trust |
|
|
|
|
|
|
|
5.382% due 11/25/36 # “ § |
|
| 400,000 |
|
| 400,000 |
|
SBI Heloc Trust |
|
|
|
|
|
|
|
5.496% due 08/25/36 ~ “ § |
|
| 400,000 |
|
| 400,000 |
|
Wells Fargo Home Equity Trust |
|
|
|
|
|
|
|
5.440% due 11/25/35 ~ # “ § |
|
| 394,540 |
|
| 394,767 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
Total Asset-Backed Securities |
|
|
|
|
|
|
|
(Cost $3,421,724) |
|
|
|
|
| 3,418,917 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
U.S. TREASURY OBLIGATIONS - 2.65% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Treasury Inflation Protected Securities - 2.65% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
0.875% due 04/15/10 ^ |
|
| 1,396,031 |
|
| 1,323,340 |
|
3.375% due 01/15/07 ^ |
|
| 899,026 |
|
| 891,511 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 2,214,851 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
Total U.S. Treasury Obligations |
|
|
|
|
|
|
|
(Cost $2,213,998) |
|
|
|
|
| 2,214,851 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FOREIGN GOVERNMENT BONDS, |
|
|
|
|
|
|
|
NOTES, & RIGHTS - 2.18% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Hong Kong Government International Bond (Hong Kong) |
|
|
|
|
|
|
|
5.125% due 08/01/14 ~ |
|
| 100,000 |
|
| 99,687 |
|
Republic of Panama (Panama) |
|
|
|
|
|
|
|
9.625% due 02/08/11 |
|
| 48,000 |
|
| 55,080 |
|
Republic of South Africa (South Africa) |
|
|
|
|
|
|
|
9.125% due 05/19/09 |
|
| 25,000 |
|
| 27,219 |
|
Spain Letras del Tesoro (Spain) |
|
|
|
|
|
|
|
2.890% due 12/22/06 |
| EUR | 1,300,000 |
|
| 1,636,815 |
|
|
|
|
|
|
|
|
|
|
| Notional |
|
|
|
| |
|
|
|
|
|
| ||
United Mexican States Value Recovery Rights (Mexico) |
|
|
|
|
|
|
|
0.000% due 06/30/07 § |
| $ | 250,000 |
|
| 4,937 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Foreign Government Bonds, Notes, & Rights |
|
|
|
|
|
|
|
(Cost $1,807,379) |
|
|
|
|
| 1,823,738 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
|
| Principal |
|
|
|
| |
|
|
|
|
|
| ||
MUNICIPAL BONDS - 1.15% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Austin Texas Water & Wastewater System Revenue ‘A’ |
|
|
|
|
|
|
|
5.000% due 11/15/29 |
|
| 200,000 |
|
| 209,914 |
|
City of Chicago IL ‘1110’ |
|
|
|
|
|
|
|
5.990% due 01/01/34 ~ § |
|
| 100,000 |
|
| 106,584 |
|
Golden State Tobacco Securitization Corp CA ‘A-1’ |
|
|
|
|
|
|
|
6.250% due 06/01/33 |
|
| 50,000 |
|
| 55,073 |
|
6.750% due 06/01/39 |
|
| 100,000 |
|
| 112,998 |
|
New York City Municipal Water Finance Authority ‘1307’ |
|
|
|
|
|
|
|
6.060% due 06/15/38 ~ § |
|
| 50,000 |
|
| 54,659 |
|
Texas State Transportation Commission Mobility Fund ‘A’ |
|
|
|
|
|
|
|
4.750% due 04/01/35 |
|
| 100,000 |
|
| 101,960 |
|
Tobacco Settlement Financing Corp NJ |
|
|
|
|
|
|
|
6.000% due 06/01/37 |
|
| 200,000 |
|
| 213,284 |
|
Tobacco Settlement Financing Corp VA |
|
|
|
|
|
|
|
5.625% due 06/01/37 |
|
| 100,000 |
|
| 104,915 |
|
|
|
|
|
|
| ||
Total Municipal Bonds |
|
|
|
|
|
|
|
(Cost $893,499) |
|
|
|
|
| 959,387 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
|
| Notional |
|
|
|
| |
|
|
|
|
|
| ||
PURCHASED CALL OPTIONS - 0.49% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2-Year Interest Rate Swap OTC |
| EUR | 8,000,000 |
|
| 53,106 |
|
2-Year Interest Rate Swap OTC |
| $ | 2,600,000 |
|
| 2,707 |
|
2-Year Interest Rate Swap OTC |
|
| 4,400,000 |
|
| 31,901 |
|
|
|
|
See Notes to Financial Statements |
| See explanation of symbols and terms, if any, on page A-38 |
|
|
|
A-22 |
|
PACIFIC FUNDS |
PF PIMCO MANAGED BOND FUND |
Schedule of Investments (Continued) |
September 30, 2006 (Unaudited) |
|
|
|
|
|
|
|
|
|
| Notional |
| Value |
| ||
|
|
|
| ||||
2-Year Interest Rate Swap OTC |
|
|
|
|
| ||
Strike @ $5.06 Exp 06/15/07 |
|
|
|
|
|
|
|
(Pay 3-Month GBP LIBOR, Receive 5.063%) |
|
|
|
|
|
|
|
Broker: JPMorgan Chase |
| GBP | 3,500,000 |
| $ | 20,655 |
|
2-Year Interest Rate Swap OTC |
|
|
|
|
|
|
|
Strike @ $5.08 Exp 04/19/07 |
|
|
|
|
|
|
|
(Pay 3-Month LIBOR, Receive 5.080%) |
|
|
|
|
|
|
|
Broker: Royal Bank of Scotland |
| $ | 5,300,000 |
|
| 27,581 |
|
2-Year Interest Rate Swap OTC |
|
|
|
|
|
|
|
Strike @ $5.25 Exp 06/07/07 |
|
|
|
|
|
|
|
(Pay 3-Month LIBOR, Receive 5.250%) |
|
|
|
|
|
|
|
Broker: Royal Bank of Scotland |
|
| 4,000,000 |
|
| 32,004 |
|
2-Year Interest Rate Swap OTC |
|
|
|
|
|
|
|
Strike @ $5.25 Exp 07/02/07 |
|
|
|
|
|
|
|
(Pay 3-Month LIBOR, Receive 5.250%) |
|
|
|
|
|
|
|
Broker: Royal Bank of Scotland |
|
| 11,300,000 |
|
| 94,513 |
|
2-Year Interest Rate Swap OTC |
|
|
|
|
|
|
|
Strike @ $5.37 Exp 07/02/07 |
|
|
|
|
|
|
|
(Pay 3-Month LIBOR, Receive 5.370%) |
|
|
|
|
|
|
|
Broker: Royal Bank of Scotland |
|
| 7,700,000 |
|
| 76,322 |
|
2-Year Interest Rate Swap OTC |
|
|
|
|
|
|
|
Strike @ $5.50 Exp 06/29/07 |
|
|
|
|
|
|
|
(Pay 3-Month LIBOR, Receive 5.500%) |
|
|
|
|
|
|
|
Broker: Royal Bank of Scotland |
|
| 5,300,000 |
|
| 61,946 |
|
30-Year Interest Rate Swap OTC |
|
|
|
|
|
|
|
Strike @ $5.75 Exp 04/27/09 |
|
|
|
|
|
|
|
(Pay 3-Month LIBOR, Receive 5.750%) |
|
|
|
|
|
|
|
Broker: Lehman Brothers |
|
| 100,000 |
|
| 9,821 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
Total Purchased Call Options |
|
|
|
|
|
|
|
(Cost $251,421) |
|
|
|
|
| 410,556 |
|
|
|
|
|
|
| ||
PURCHASED PUT OPTIONS - 0.00% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
30-Year Interest Rate Swap OTC |
|
|
|
|
|
|
|
Strike @ $6.25 Exp 04/27/09 |
|
|
|
|
|
|
|
(Receive 3-Month LIBOR, Pay 6.250%) |
|
|
|
|
|
|
|
Broker: Lehman Brothers |
|
| 100,000 |
|
| 2,638 |
|
|
|
|
|
|
|
|
|
|
| Number of |
|
|
|
| |
|
|
|
|
|
| ||
Eurodollar (12/06) Futures CME |
|
|
|
|
|
|
|
Strike @ $91.75 Exp 12/18/06 |
|
|
|
|
|
|
|
Broker: Merrill Lynch |
|
| 13 |
|
| 81 |
|
Eurodollar (06/07) Futures CME |
|
|
|
|
|
|
|
Strike @ $91.25 Exp 06/18/07 |
|
|
|
|
|
|
|
Broker: Merrill Lynch |
|
| 142 |
|
| 887 |
|
Eurodollar (09/07) Futures CME |
|
|
|
|
|
|
|
Strike @ $91.25 Exp 09/17/07 |
|
|
|
|
|
|
|
Broker: Merrill Lynch |
|
| 82 |
|
| 513 |
|
Eurodollar (09/07) Futures CME |
|
|
|
|
|
|
|
Strike @ $91.50 Exp 09/17/07 |
|
|
|
|
|
|
|
Broker: Merrill Lynch |
|
| 89 |
|
| 556 |
|
Eurodollar (12/07) Futures CME |
|
|
|
|
|
|
|
Strike @ $91.75 Exp 12/17/07 |
|
|
|
|
|
|
|
Broker: Merrill Lynch |
|
| 39 |
|
| 244 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
Total Purchased Put Options |
|
|
|
|
|
|
|
(Cost $10,618) |
|
|
|
|
| 4,919 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
|
| Principal |
|
|
|
| |
|
|
|
|
|
| ||
SHORT-TERM INVESTMENTS - 46.23% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial Paper - 27.76% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Abbey National North America |
|
|
|
|
|
|
|
5.260% due 10/05/06 |
|
| 2,200,000 |
|
| 2,198,714 |
|
Bank of America Corp |
|
|
|
|
|
|
|
5.375% due 10/27/06 |
|
| 2,100,000 |
|
| 2,092,242 |
|
Barclays U.S. Funding Corp |
|
|
|
|
|
|
|
5.405% due 10/20/06 |
|
| 300,000 |
|
| 299,208 |
|
Danske Corp |
|
|
|
|
|
|
|
5.355% due 10/26/06 |
|
| 2,100,000 |
|
| 2,092,595 |
|
Dexia LLC DE |
|
|
|
|
|
|
|
5.360% due 10/16/06 |
|
| 2,100,000 |
|
| 2,095,680 |
|
DnB NOR ASA (Norway) |
|
|
|
|
|
|
|
5.255% due 12/07/06 |
|
| 500,000 |
|
| 495,178 |
|
General Electric Capital Corp |
|
|
|
|
|
|
|
5.250% due 01/16/07 |
|
| 1,100,000 |
|
| 1,083,061 |
|
5.350% due 10/26/06 |
|
| 1,300,000 |
|
| 1,295,416 |
|
HBOS Treasury Services PLC (United Kingdom) |
|
|
|
|
|
|
|
5.260% due 12/05/06 |
|
| 700,000 |
|
| 693,491 |
|
5.370% due 10/25/06 |
|
| 1,000,000 |
|
| 996,621 |
|
ING U.S. Funding LLC |
|
|
|
|
|
|
|
5.370% due 10/24/06 |
|
| 2,100,000 |
|
| 2,093,211 |
|
Rabobank USA Finance Corp |
|
|
|
|
|
|
|
5.360% due 10/02/06 |
|
| 100,000 |
|
| 99,985 |
|
Swedbank AB (Sweden) |
|
|
|
|
|
|
|
5.385% due 10/23/06 |
|
| 2,100,000 |
|
| 2,093,483 |
|
Total SA (France) |
|
|
|
|
|
|
|
5.360% due 10/02/06 |
|
| 2,300,000 |
|
| 2,299,658 |
|
UBS Finance LLC DE |
|
|
|
|
|
|
|
5.340% due 10/02/06 |
|
| 400,000 |
|
| 399,941 |
|
5.355% due 10/24/06 |
|
| 2,100,000 |
|
| 2,093,211 |
|
Viacom Inc |
|
|
|
|
|
|
|
5.594% due 05/29/07 § |
|
| 400,000 |
|
| 400,000 |
|
5.600% due 03/22/07 § |
|
| 400,000 |
|
| 400,005 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 23,221,700 |
|
|
|
|
|
|
| ||
Foreign Government Issues - 14.55% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dutch Treasury Certificates (Netherlands) |
|
|
|
|
|
|
|
2.905% due 10/31/06 |
| EUR | 100,000 |
|
| 126,503 |
|
French Treasury Bills (France) |
|
|
|
|
|
|
|
2.867% due 12/21/06 |
|
| 2,840,000 |
|
| 3,575,956 |
|
2.890% due 11/23/06 |
|
| 700,000 |
|
| 883,661 |
|
2.895% due 10/19/06 |
|
| 2,100,000 |
|
| 2,659,079 |
|
2.938% due 11/02/06 |
|
| 1,000,000 |
|
| 1,264,757 |
|
3.189% due 12/28/06 |
|
| 1,550,000 |
|
| 1,950,271 |
|
German Treasury Bills (Germany) |
|
|
|
|
|
|
|
2.704% due 10/18/06 |
|
| 1,350,000 |
|
| 1,709,682 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 12,169,909 |
|
|
|
|
|
|
| ||
U.S. Treasury Bills - 0.62% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4.830% due 11/30/06 ‡ |
| $ | 460,000 |
|
| 456,490 |
|
4.830% due 12/14/06 ‡ |
|
| 60,000 |
|
| 59,427 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 515,917 |
|
|
|
|
|
|
|
|
|
See Notes to Financial Statements | See explanation of symbols and terms, if any, on page A-38 |
A-23
|
PACIFIC FUNDS |
PF PIMCO MANAGED BOND FUND |
Schedule of Investments (Continued) |
September 30, 2006 (Unaudited) |
|
|
|
|
|
|
|
|
|
| Shares |
| Value |
| ||
|
|
|
| ||||
Money Market Funds - 3.30% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BlackRock Liquidity Funds Institutional TempCash |
|
| 1,379,861 |
| $ | 1,379,861 |
|
BlackRock Liquidity Funds Institutional TempFund |
|
| 1,379,860 |
|
| 1,379,860 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 2,759,721 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
Total Short-Term Investments |
|
|
|
|
|
|
|
(Cost $38,639,603) |
|
|
|
|
| 38,667,247 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
TOTAL INVESTMENTS - 136.18% |
|
|
|
|
|
|
|
(Cost $113,905,370) |
|
|
|
|
| 113,901,361 |
|
|
|
|
|
|
|
|
|
OTHER ASSETS & LIABILITIES, NET - (36.18%) |
|
|
|
|
| (30,261,678 | ) |
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
NET ASSETS - 100.00% |
|
|
|
| $ | 83,639,683 |
|
|
|
|
|
|
|
Notes to Schedule of Investments
(a) As of September 30, 2006, the Fund was diversified as a percentage of net assets as follows:
|
|
|
|
Mortgage-Backed Securities |
| 75.02 | % |
Short-Term Investments |
| 46.23 | % |
Corporate Bonds & Notes |
| 4.37 | % |
Asset-Backed Securities |
| 4.09 | % |
U.S. Treasury Obligations |
| 2.65 | % |
Foreign Government Bonds, Notes, & Rights |
| 2.18 | % |
Municipal Bonds |
| 1.15 | % |
Purchased Options |
| 0.49 | % |
|
|
| |
|
| 136.18 | % |
Other Assets & Liabilities, Net |
| (36.18 | %) |
|
|
| |
|
| 100.00 | % |
|
|
|
(b) Short-term securities reflect either the stated coupon rate or the annualized effective yield on the date of purchase for discounted securities.
(c) Securities with an aggregate market value of $515,917 were segregated with the broker(s) to cover margin requirements for the following open futures contracts as of September 30, 2006:
|
|
|
|
|
|
|
|
|
|
|
Long Futures Outstanding |
| Number of |
| Notional |
| Unrealized |
| |||
| ||||||||||
Euro-Bund 10-Year Notes (12/06) |
| 22 |
|
| EUR | 2,200,000 |
| $ | 17,854 |
|
Eurodollar (03/07) |
| 29 |
|
| $ | 29,000,000 |
|
| 29,363 |
|
Eurodollar (06/07) |
| 145 |
|
|
| 145,000,000 |
|
| 84,100 |
|
Eurodollar (09/07) |
| 101 |
|
|
| 101,000,000 |
|
| 78,575 |
|
Eurodollar (12/07) |
| 105 |
|
|
| 105,000,000 |
|
| 103,762 |
|
Eurodollar (06/08) |
| 41 |
|
|
| 41,000,000 |
|
| 27,038 |
|
United Kingdom 90-day LIBOR Sterling |
|
|
|
|
|
|
|
|
|
|
Interest Rate (09/07) |
| 16 |
|
| GBP | 8,000,000 |
|
| 7,115 |
|
United Kingdom 90-day LIBOR Sterling |
|
|
|
|
|
|
|
|
|
|
Interest Rate (12/07) |
| 46 |
|
|
| 23,000,000 |
|
| 12,919 |
|
U.S. Treasury 10-Year Notes (12/06) |
| 48 |
|
| $ | 4,800,000 |
|
| 45,734 |
|
U.S. Treasury 30-Year Bonds (12/06) |
| 11 |
|
|
| 1,100,000 |
|
| 25,867 |
|
|
|
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
| $ | 432,327 |
|
|
|
|
|
|
|
|
|
|
(d) Investments sold short outstanding as of September 30, 2006:
|
|
|
|
|
|
|
|
Type |
| Principal |
| Value |
| ||
| |||||||
Fannie Mae |
|
|
|
|
|
|
|
5.000% due 10/12/36 # “ |
| $ | 300,000 |
| $ | 288,375 |
|
5.500% due 10/12/36 # “ |
|
| 3,500,000 |
|
| 3,448,592 |
|
U.S. Treasury Notes |
|
|
|
|
|
|
|
4.500% due 02/15/15 # |
|
| 400,000 |
|
| 396,110 |
|
|
|
|
|
|
| ||
Total Investments sold short |
|
|
|
|
|
|
|
(Proceeds $4,138,737) |
|
|
|
| $ | 4,133,077 |
|
|
|
|
|
|
|
(e) Forward foreign currency contracts outstanding as of September 30, 2006 were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Contracts |
|
| Currency |
|
| Principal |
|
| Expiration |
|
| Net |
|
| |||||||||||||
Buy |
|
| CNY |
| 8,902,105 |
|
| 05/07 |
|
| ($9,861 | ) | |
Sell |
|
| EUR |
| 10,202,000 |
|
| 10/06 |
|
| 28,916 |
| |
Sell |
|
| GBP |
| 207,000 |
|
| 10/06 |
|
| 4,404 |
| |
Buy |
|
| JPY |
| 51,229,935 |
|
| 10/06 |
|
| (986 | ) | |
Buy |
|
| JPY |
| 231,859,000 |
|
| 11/06 |
|
| (62,116 | ) | |
|
|
|
|
|
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
|
|
|
| ($39,643 | ) |
|
|
|
|
|
|
|
|
|
|
|
|
(f) Transactions in written options for the period ended September 30, 2006 were as follows:
|
|
|
|
|
|
|
|
|
|
| Number of |
| Premium |
| |
| |||||||
Outstanding, March 31, 2006 |
|
| 6,600,000 |
| $ | 50,404 |
|
Call Options Written |
|
| 20,400,018 |
|
| 249,530 |
|
Put Options Written |
|
| 30 |
|
| 13,778 |
|
Call Options Expired |
|
| (4,700,018 | ) |
| (47,450 | ) |
Put Options Expired |
|
| (800,018 | ) |
| (10,693 | ) |
|
|
|
| ||||
Outstanding, September 30, 2006 |
|
| 21,500,012 |
| $ | 255,569 |
|
|
|
|
|
|
|
See Notes to Financial Statements | See explanation of symbols and terms, if any, on page A-38 |
A-24
|
PACIFIC FUNDS |
PF PIMCO MANAGED BOND FUND |
Schedule of Investments (Continued) |
September 30, 2006 (Unaudited) |
(g) Premiums received and value of written options outstanding as of September 30, 2006:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Counterparty |
| Type |
| Pay/Receive |
| Exercise Rate | Expiration |
| Notional |
| Premium |
| Value |
| ||||
| ||||||||||||||||||
Citigroup |
| Call - OTC 5-Year Interest Rate Swap |
| Receive |
| 4.100 | % | 07/02/07 |
| EUR | 3,500,000 |
| $ | 44,256 |
| $ | 69,573 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 6-Month |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
JPMorgan Chase |
| Call - OTC 8-Year Interest Rate Swap |
| Receive |
| 4.850 | % | 06/15/07 |
| GBP | 1,000,000 |
|
| 15,134 |
|
| 18,921 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 3-Month |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
Wachovia |
| Call - OTC 5-Year Interest Rate Swap |
| Receive |
| 4.780 | % | 02/01/07 |
| $ | 1,100,000 |
|
| 9,020 |
|
| 2,941 |
|
Royal Bank of Scotland |
| Call - OTC 5-Year Interest Rate Swap |
| Receive |
| 5.220 | % | 04/19/07 |
|
| 2,300,000 |
|
| 18,173 |
|
| 31,936 |
|
Royal Bank of Scotland |
| Call - OTC 5-Year Interest Rate Swap |
| Receive |
| 5.340 | % | 06/07/07 |
|
| 2,000,000 |
|
| 20,340 |
|
| 37,006 |
|
Royal Bank of Scotland |
| Call - OTC 5-Year Interest Rate Swap |
| Receive |
| 5.600 | % | 06/29/07 |
|
| 2,300,000 |
|
| 25,415 |
|
| 62,410 |
|
Royal Bank of Scotland |
| Call - OTC 5-Year Interest Rate Swap |
| Receive |
| 5.370 | % | 07/02/07 |
|
| 4,900,000 |
|
| 59,325 |
|
| 97,608 |
|
Royal Bank of Scotland |
| Call - OTC 7-Year Interest Rate Swap |
| Receive |
| 5.500 | % | 07/02/07 |
|
| 2,500,000 |
|
| 28,808 |
|
| 73,387 |
|
Lehman Brothers |
| Call - OTC 5-Year Interest Rate Swap |
| Receive |
| 5.150 | % | 12/20/07 |
|
| 1,900,000 |
|
| 27,450 |
|
| 32,187 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Strike Price |
|
|
| Number of |
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||
Merrill Lynch |
| Put - CBOT U.S. Treasury 20-Year Futures |
|
|
| $104.00 | 11/21/06 |
|
| 12 |
|
| 7,648 |
|
| 188 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
|
|
|
|
|
|
|
|
|
|
| $ | 255,569 |
| $ | 426,157 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
(h) Credit default swaps outstanding as of September 30, 2006:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Counterparty |
| Reference Entity |
| Buy/Sell |
| (Pay)/Receive |
| Expiration |
| Notional |
|
| Unrealized |
| ||
| ||||||||||||||||
Merrill Lynch |
| Russian Federation 5.000% due 03/31/30 |
| Sell |
| 0.610% |
|
| 03/20/07 |
| $ | 100,000 |
| $ | 175 |
|
Goldman Sachs |
| Russian Federation 5.000% due 03/31/30 |
| Sell |
| 0.700% |
|
| 03/20/07 |
|
| 100,000 |
|
| 217 |
|
Lehman Brothers |
| Johnson & Johnson 3.800% due 05/15/13 |
| Buy |
| (0.110% | ) |
| 12/20/08 |
|
| 100,000 |
|
| (212 | ) |
Lehman Brothers |
| The Home Depot Inc 5.375% due 04/01/06 |
| Buy |
| (0.120% | ) |
| 12/20/08 |
|
| 100,000 |
|
| (127 | ) |
Citigroup |
| Wal-Mart Stores Inc 3.375% due 10/01/08 |
| Buy |
| (0.140% | ) |
| 12/20/08 |
|
| 100,000 |
|
| (212 | ) |
Barclays |
| Eli Lilly & Co 6.000% due 03/15/12 |
| Buy |
| (0.160% | ) |
| 12/20/08 |
|
| 100,000 |
|
| (276 | ) |
Morgan Stanley |
| Emerson Electric Co 4.625% due 10/15/12 |
| Buy |
| (0.210% | ) |
| 12/20/08 |
|
| 100,000 |
|
| (318 | ) |
Merrill Lynch |
| Gannett Co Inc 6.375% due 04/01/12 |
| Buy |
| (0.220% | ) |
| 12/20/08 |
|
| 100,000 |
|
| (127 | ) |
Morgan Stanley |
| The Allstate Corp 6.125% due 02/15/12 |
| Buy |
| (0.260% | ) |
| 12/20/08 |
|
| 100,000 |
|
| (361 | ) |
Citigroup |
| Eaton Corp 5.750% due 07/15/12 |
| Buy |
| (0.280% | ) |
| 12/20/08 |
|
| 100,000 |
|
| (446 | ) |
Barclays |
| FedEx Corp 7.250% due 10/15/12 |
| Buy |
| (0.290% | ) |
| 12/20/08 |
|
| 100,000 |
|
| (467 | ) |
Lehman Brothers |
| Whirlpool Corp 8.600% due 05/01/10 |
| Buy |
| (0.290% | ) |
| 12/20/08 |
|
| 100,000 |
|
| (446 | ) |
Merrill Lynch |
| Ingersoll-Rand Co Ltd 6.480% due 06/01/25 |
| Buy |
| (0.320% | ) |
| 12/20/08 |
|
| 100,000 |
|
| (530 | ) |
Morgan Stanley |
| Dow Jones CDX NA EM3 Index |
| Sell |
| 2.100% |
|
| 06/20/10 |
|
| 400,000 |
|
| 30,105 |
|
Lehman Brothers |
| Republic of Turkey 11.875% due 01/15/30 |
| Buy |
| (2.260% | ) |
| 09/20/10 |
|
| 100,000 |
|
| (1,784 | ) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
|
|
|
|
|
| $ | 25,191 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) | If the Fund is the seller of protection and a credit default event occurs, as defined under the terms of that particular swap agreement, the Fund will pay to the buyer of the protection, an amount up to the notional value of the swap and in certain instances, take delivery of the security. |
(i) Interest rate swaps outstanding as of September 30, 2006:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Counterparty |
| Floating Rate Index |
| Pay/Receive |
| Fixed |
| Expiration |
|
| Notional |
| Unrealized |
| ||
| ||||||||||||||||
UBS |
| 3-Month USD-LIBOR |
| Pay |
| 5.000 | % |
| 06/18/09 |
| $ | 11,300,000 |
| $ | 37,929 |
|
Barclays |
| 3-Month USD-LIBOR |
| Pay |
| 5.000 | % |
| 12/20/11 |
|
| 300,000 |
|
| 4,880 |
|
Citigroup |
| 3-Month USD-LIBOR |
| Pay |
| 5.000 | % |
| 12/20/11 |
|
| 900,000 |
|
| 16,724 |
|
Deutsche Bank |
| 3-Month USD-LIBOR |
| Pay |
| 5.000 | % |
| 12/20/11 |
|
| 900,000 |
|
| 14,407 |
|
Lehman Brothers |
| 3-Month USD-LIBOR |
| Pay |
| 5.000 | % |
| 12/20/11 |
|
| 4,700,000 |
|
| 75,236 |
|
Deutsche Bank |
| 3-Month USD-LIBOR |
| Pay |
| 5.000 | % |
| 12/20/13 |
|
| 2,600,000 |
|
| 53,779 |
|
Barclays |
| 6-Month EUR-LIBOR |
| Receive |
| 4.000 | % |
| 12/15/14 |
| EUR | 1,000,000 |
|
| (25,267 | ) |
Deutsche Bank |
| 6-Month EUR-LIBOR |
| Receive |
| 4.000 | % |
| 12/15/14 |
|
| 200,000 |
|
| (5,863 | ) |
HSBC |
| 6-Month EUR-LIBOR |
| Receive |
| 4.000 | % |
| 12/15/14 |
|
| 2,500,000 |
|
| (73,286 | ) |
Deutsche Bank |
| 6-Month GBP-LIBOR |
| Pay |
| 5.000 | % |
| 09/15/15 |
| GBP | 200,000 |
|
| 925 |
|
Goldman Sachs |
| 6-Month GBP-LIBOR |
| Pay |
| 5.000 | % |
| 09/15/15 |
|
| 300,000 |
|
| 1,841 |
|
|
|
See Notes to Financial Statements | See explanation of symbols and terms, if any, on page A-38 |
A-25
|
PACIFIC FUNDS |
PF PIMCO MANAGED BOND FUND |
Schedule of Investments (Continued) |
September 30, 2006 (Unaudited) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Counterparty |
| Floating Rate Index |
| Pay/Receive |
| Fixed |
| Expiration |
|
| Notional |
| Unrealized |
| ||
| ||||||||||||||||
Barclays |
| 3-Month USD-LIBOR |
| Receive |
| 5.000 | % |
| 12/20/16 |
| $ | 100,000 |
|
| ($2,976 | ) |
Goldman Sachs |
| 3-Month USD-LIBOR |
| Receive |
| 5.000 | % |
| 12/20/16 |
|
| 2,100,000 |
|
| (62,299 | ) |
Lehman Brothers |
| 3-Month USD-LIBOR |
| Receive |
| 5.000 | % |
| 12/20/16 |
|
| 200,000 |
|
| (5,933 | ) |
Royal Bank of Scotland |
| 3-Month USD-LIBOR |
| Pay |
| 5.000 | % |
| 12/20/21 |
|
| 400,000 |
|
| 18,508 |
|
Morgan Stanley |
| 6-Month EUR-LIBOR |
| Pay |
| 6.000 | % |
| 06/18/34 |
| EUR | 1,000,000 |
|
| 61,349 |
|
Deutsche Bank |
| 6-Month GBP-LIBOR |
| Receive |
| 4.000 | % |
| 12/15/35 |
| GBP | 1,000,000 |
|
| 734 |
|
Deutsche Bank |
| 3-Month USD-LIBOR |
| Pay |
| 5.000 | % |
| 12/15/35 |
| $ | 1,800,000 |
|
| (21,585 | ) |
Morgan Stanley |
| 3-Month USD-LIBOR |
| Pay |
| 5.000 | % |
| 12/20/36 |
|
| 200,000 |
|
| 11,875 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
|
|
|
|
|
| $ | 100,978 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
See Notes to Financial Statements | See explanation of symbols and terms, if any, on page A-38 |
A-26
|
PACIFIC FUNDS |
PF PIMCO INFLATION MANAGED FUND |
Schedule of Investments |
September 30, 2006 (Unaudited) |
|
|
|
|
|
|
|
|
|
| Principal |
|
|
|
| |
|
| Amount |
| Value |
| ||
|
|
|
| ||||
CORPORATE BONDS & NOTES - - 1.65% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consumer Discretionary - 0.15% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CSC Holdings Inc |
|
|
|
|
|
|
|
7.875% due 12/15/07 |
| $ | 100,000 |
| $ | 101,750 |
|
|
|
|
|
|
| ||
Financial Services - 1.14% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ford Motor Credit Co |
|
|
|
|
|
|
|
7.875% due 06/15/10 |
|
| 500,000 |
|
| 487,321 |
|
General Electric Capital Corp |
|
|
|
|
|
|
|
5.430% due 12/12/08 § |
|
| 100,000 |
|
| 100,133 |
|
Rabobank Nederland (Netherlands) |
|
|
|
|
|
|
|
5.527% due 01/15/09 ~ § |
|
| 100,000 |
|
| 100,069 |
|
Travelers Property Casualty Corp |
|
|
|
|
|
|
|
3.750% due 03/15/08 |
|
| 100,000 |
|
| 97,832 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 785,355 |
|
|
|
|
|
|
| ||
Integrated Oils - 0.36% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pemex Project Funding Master Trust |
|
|
|
|
|
|
|
9.250% due 03/30/18 |
|
| 200,000 |
|
| 247,300 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
Total Corporate Bonds & Notes |
|
|
|
|
|
|
|
(Cost $1,124,767) |
|
|
|
|
| 1,134,405 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
MORTGAGE-BACKED SECURITIES - 6.94% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Collateralized Mortgage Obligations - 0.35% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Countrywide Home Loan Mortgage |
|
|
|
|
|
|
|
Pass-Through Trust |
|
|
|
|
|
|
|
5.670% due 06/25/35 ~ “ § |
|
| 74,008 |
|
| 73,943 |
|
GSR Mortgage Loan Trust |
|
|
|
|
|
|
|
4.540% due 09/25/35 “ § |
|
| 169,756 |
|
| 167,559 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 241,502 |
|
|
|
|
|
|
| ||
Fannie Mae - 6.59% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.500% due 10/01/35 “ |
|
| 93,743 |
|
| 92,431 |
|
5.500% due 10/12/36 # “ |
|
| 4,200,000 |
|
| 4,138,310 |
|
6.000% due 10/12/36 # “ |
|
| 300,000 |
|
| 301,406 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 4,532,147 |
|
|
|
|
|
|
| ||
Total Mortgage-Backed Securities |
|
|
|
|
|
|
|
(Cost $4,759,412) |
|
|
|
|
| 4,773,649 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
ASSET-BACKED SECURITIES - 0.24% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Freddie Mac Structured Pass-Through Securities |
|
|
|
|
|
|
|
5.610% due 09/25/31 “ § |
|
| 7,059 |
|
| 7,065 |
|
Lehman XS Trust |
|
|
|
|
|
|
|
5.410% due 07/25/46 “ § |
|
| 94,456 |
|
| 93,478 |
|
Merrill Lynch Mortgage Investors Inc |
|
|
|
|
|
|
|
5.410% due 01/25/37 “ § |
|
| 62,178 |
|
| 62,220 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
Total Asset-Backed Securities |
|
|
|
|
|
|
|
(Cost $163,695) |
|
|
|
|
| 162,763 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| ||
U.S. TREASURY OBLIGATIONS - 105.63% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Treasury Bonds - 0.88% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4.500% due 02/15/36 |
|
| 500,000 |
|
| 479,258 |
|
6.625% due 02/15/27 |
|
| 100,000 |
|
| 123,000 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 602,258 |
|
|
|
|
|
|
| ||
U.S. Treasury Inflation Protected Securities - 104.61% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
0.875% due 04/15/10 ^ |
|
| 4,832,415 |
|
| 4,580,791 |
|
1.625% due 01/15/15 ^ |
|
| 3,302,864 |
|
| 3,142,626 |
|
1.875% due 07/15/13 ^ |
|
| 1,218,437 |
|
| 1,187,263 |
|
1.875% due 07/15/15 # ^ |
|
| 9,326,755 |
|
| 9,044,056 |
|
2.000% due 01/15/14 # ^ |
|
| 3,695,586 |
|
| 3,628,559 |
|
2.000% due 01/15/16 ^ |
|
| 2,972,500 |
|
| 2,905,155 |
|
2.000% due 01/15/26 ^ |
|
| 3,485,000 |
|
| 3,343,425 |
|
2.375% due 04/15/11 ^ |
|
| 204,992 |
|
| 205,272 |
|
2.375% due 01/15/25 ^ |
|
| 6,400,130 |
|
| 6,505,137 |
|
2.500% due 07/15/16 ^ |
|
| 2,216,214 |
|
| 2,261,232 |
|
3.000% due 07/15/12 ^ |
|
| 3,649,023 |
|
| 3,787,146 |
|
3.375% due 01/15/07 ^ |
|
| 2,824,932 |
|
| 2,801,318 |
|
3.375% due 04/15/32 ^ |
|
| 286,535 |
|
| 355,875 |
|
3.500% due 01/15/11 ^ |
|
| 3,974,226 |
|
| 4,163,936 |
|
3.625% due 01/15/08 # ^ |
|
| 7,569,780 |
|
| 7,630,902 |
|
3.625% due 04/15/28 ^ |
|
| 1,974,777 |
|
| 2,447,877 |
|
3.875% due 01/15/09 ^ |
|
| 1,612,637 |
|
| 1,659,442 |
|
3.875% due 04/15/29 ^ |
|
| 7,239,492 |
|
| 9,356,479 |
|
4.250% due 01/15/10 ^ |
|
| 2,781,137 |
|
| 2,942,357 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 71,948,848 |
|
|
|
|
|
|
| ||
U.S. Treasury Notes - 0.14% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4.500% due 02/28/11 |
|
| 100,000 |
|
| 99,657 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
Total U.S. Treasury Obligations |
|
|
|
|
|
|
|
(Cost $73,279,416) |
|
|
|
|
| 72,650,763 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
MUNICIPAL BONDS - 0.15% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tobacco Settlement Financing Corp RI ‘A’ |
|
|
|
|
|
|
|
6.000% due 06/01/23 |
|
| 100,000 |
|
| 105,624 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
Total Municipal Bonds |
|
|
|
|
|
|
|
(Cost $89,283) |
|
|
|
|
| 105,624 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
|
| Notional |
|
|
|
| |
|
| Amount |
|
|
|
| |
|
|
|
|
|
| ||
PURCHASED CALL OPTIONS - 0.05% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2-Year Interest Rate Swap OTC |
|
| 3,000,000 |
|
| 24,003 |
|
2-Year Interest Rate Swap OTC |
|
| 1,000,000 |
|
| 8,001 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
Total Purchased Call Options |
|
|
|
|
|
|
|
(Cost $16,880) |
|
|
|
|
| 32,004 |
|
|
|
|
|
|
|
|
|
See Notes to Financial Statements | See explanation of symbols and terms, if any, on page A-38 |
|
|
A-27 |
PACIFIC FUNDS
PF PIMCO INFLATION MANAGED FUND
Schedule of Investments (Continued)
September 30, 2006 (Unaudited)
|
|
|
|
|
|
|
|
|
| Principal |
|
|
|
| |
|
| Amount |
| Value |
| ||
|
|
|
| ||||
SHORT-TERM INVESTMENTS - 21.05% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial Paper - 4.80% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Rabobank USA Finance Corp |
|
|
|
|
|
|
|
5.270% due 10/02/06 |
| $ | 1,800,000 |
| $ | 1,799,736 |
|
Total SA (France) |
|
|
|
|
|
|
|
5.360% due 10/02/06 |
|
| 1,500,000 |
|
| 1,499,777 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 3,299,513 |
|
|
|
|
|
|
| ||
Foreign Government Issues - 15.49% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dutch Treasury Certificates (Netherlands) |
|
|
|
|
|
|
|
3.036% due 10/31/06 |
| EUR | 2,840,000 |
|
| 3,592,702 |
|
French Treasury Bills (France) |
|
|
|
|
|
|
|
2.785% due 10/12/06 |
|
| 1,380,000 |
|
| 1,748,480 |
|
2.952% due 12/07/06 |
|
| 910,000 |
|
| 1,147,386 |
|
3.030% due 11/16/06 |
|
| 1,200,000 |
|
| 1,515,882 |
|
German Treasury Bills (Germany) |
|
|
|
|
|
|
|
2.939% due 12/13/06 |
|
| 2,100,000 |
|
| 2,646,350 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 10,650,800 |
|
|
|
|
|
|
| ||
U.S. Treasury Bills - 0.16% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4.810% due 12/14/06 ‡ |
| $ | 115,000 |
|
| 113,903 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
|
| Shares |
|
|
|
| |
|
|
|
|
|
| ||
Money Market Funds - 0.60% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BlackRock Liquidity Funds Institutional TempCash |
|
| 205,452 |
|
| 205,452 |
|
BlackRock Liquidity Funds Institutional TempFund |
|
| 205,451 |
|
| 205,451 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 410,903 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
Total Short-Term Investments |
|
|
|
|
|
|
|
(Cost $14,476,082) |
|
|
|
|
| 14,475,119 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
TOTAL INVESTMENTS - 135.71% |
|
|
|
|
|
|
|
(Cost $93,909,535) |
|
|
|
|
| 93,334,327 |
|
|
|
|
|
|
|
|
|
OTHER ASSETS & LIABILITIES, NET - (35.71%) |
|
|
|
|
| (24,558,485 | ) |
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
NET ASSETS - 100.00% |
|
|
|
| $ | 68,775,842 |
|
|
|
|
|
|
|
Notes to Schedule of Investments
(a) As of September 30, 2006, the Fund was diversified as a percentage of net assets as follows:
U.S. Treasury Obligations |
|
| 105.63 | % |
Short-Term Investments |
|
| 21.05 | % |
Mortgage-Backed Securities |
|
| 6.94 | % |
Corporate Bonds & Notes |
|
| 1.65 | % |
Asset-Backed Securities |
|
| 0.24 | % |
Municipal Bonds |
|
| 0.15 | % |
Purchased Call Options |
|
| 0.05 | % |
|
|
| ||
|
|
| 135.71 | % |
Other Assets & Liabilities, Net |
|
| (35.71 | %) |
|
|
| ||
|
|
| 100.00 | % |
|
|
|
(b) Short-term securities reflect either the stated coupon rate or the annualized effective yield on the date of purchase for discounted securities.
(c) Securities with an aggregate market value of $113,903 were segregated with the broker(s) to cover margin requirements for the following open futures contracts as of September 30, 2006:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Unrealized |
| ||
|
| Number of |
| Notional |
| Appreciation |
| ||||
Long Futures Outstanding |
| Contracts |
| Amount |
| (Depreciation) |
| ||||
| |||||||||||
Euro-Bund 10-Year Notes (12/06) |
|
| 5 |
|
| EUR | 500,000 |
| $ | 3,994 |
|
Eurodollar (09/07) |
|
| 2 |
|
| $ | 2,000,000 |
|
| 125 |
|
Eurodollar (12/07) |
|
| 1 |
|
|
| 1,000,000 |
|
| 325 |
|
U.S. Treasury 5-Year Notes (12/06) |
|
| 65 |
|
|
| 6,500,000 |
|
| 42,656 |
|
U.S. Treasury 10-Year Notes (12/06) |
|
| 18 |
|
|
| 1,800,000 |
|
| 19,688 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Short Futures Outstanding |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
U.S. Treasury 30-Year Bonds (12/06) |
|
| 38 |
|
|
| 3,800,000 |
|
| (68,875 | ) |
|
|
|
|
|
|
|
|
| |||
|
|
|
|
|
|
|
|
| ($2,087 | ) | |
|
|
|
|
|
|
|
|
|
(d) Investment sold short outstanding as of September 30, 2006:
|
|
|
|
|
|
|
|
|
| Principal |
|
|
|
| |
Type |
| Amount |
| Value |
| ||
| |||||||
U.S. Treasury Notes |
|
|
|
|
|
|
|
4.250% due 11/15/13 # |
| $ | 600,000 |
| $ | 587,086 |
|
|
|
|
|
|
| ||
Total Investments sold short |
|
|
|
|
|
|
|
(Proceeds $582,672) |
|
|
|
| $ | 587,086 |
|
|
|
|
|
|
|
(e) Forward foreign currency contracts outstanding as of September 30, 2006 were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Principal |
|
|
|
| Net |
| ||
Contracts |
|
|
|
| Amount |
|
|
|
| Unrealized |
| ||
to Buy or |
|
|
|
| Covered by |
|
|
|
| Appreciation |
| ||
to Sell |
| Currency |
| Contracts |
| Expiration |
| (Depreciation) |
| ||||
Sell |
|
| EUR |
|
| 7,614,000 |
|
| 10/06 |
| $ | 22,248 |
|
Buy |
|
| JPY |
|
| 236,297,000 |
|
| 11/06 |
|
| (63,305 | ) |
|
|
|
|
|
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
|
|
|
| ($41,057 | ) |
|
|
|
|
|
|
|
|
|
|
|
|
(f) Transactions in written options for the period ended September 30, 2006 were as follows:
|
|
|
|
|
|
|
|
|
|
| Number of |
|
|
|
|
|
|
| Contracts |
| Premium |
| |
| |||||||
Outstanding, March 31, 2006 |
|
| 11 |
| $ | 8,011 |
|
Call Options Written |
|
| 3,000,075 |
|
| 31,123 |
|
Put Options Written |
|
| 3,400,075 |
|
| 34,922 |
|
Call Options Expired |
|
| (78 | ) |
| (12,137 | ) |
Put Options Expired |
|
| (1,400,083 | ) |
| (23,424 | ) |
|
| ||||||
Outstanding, September 30, 2006 |
|
| 5,000,000 |
| $ | 38,495 |
|
|
|
|
|
|
See Notes to Financial Statements | See explanation of symbols and terms, if any, on page A-38 |
|
|
A-28 |
|
PACIFIC FUNDS |
PF PIMCO INFLATION MANAGED FUND |
Schedule of Investments (Continued) |
|
(g) Premiums received and value of written options outstanding as of September 30, 2006: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Pay/Receive |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Floating Rate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Based on |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 3-Month |
| Exercise |
| Expiration |
| Notional |
|
|
|
|
|
|
| ||
Counterparty |
| Type |
| USD-LIBOR |
| Rate |
| Date |
| Amount |
| Premium |
| Value |
| ||||
| |||||||||||||||||||
Barclays |
| Call - OTC 10-Year Interest Rate Swap |
| Receive |
| 5.300 | % |
| 01/02/07 |
| $ | 2,000,000 |
| $ | 10,400 |
| $ | 33,712 |
|
Barclays |
| Put - OTC 10-Year Interest Rate Swap |
| Pay |
| 5.900 | % |
| 01/02/07 |
|
| 1,000,000 |
|
| 11,350 |
|
| 300 |
|
Barclays |
| Put - OTC 10-Year Interest Rate Swap |
| Pay |
| 6.100 | % |
| 01/02/07 |
|
| 1,000,000 |
|
| 6,575 |
|
| 78 |
|
Royal Bank of Scotland |
| Call - OTC 5-Year Interest Rate Swap |
| Receive |
| 5.340 | % |
| 06/07/07 |
|
| 1,000,000 |
|
| 10,170 |
|
| 18,503 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| $ | 38,495 |
| $ | 52,593 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(h) Credit default swap outstanding as of September 30, 2006:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Counterparty |
| Reference Entity |
| Buy/Sell |
| (Pay)/Receive |
| Expiration |
| Notional |
| Unrealized |
| ||
| |||||||||||||||
Bear Stearns |
| Ford Motor Credit Co 7.000% due 10/01/13 |
| Sell |
| 4.350% |
| 06/20/07 |
| $ | 500,000 |
| $ | 9,861 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (1) | If the Fund is the seller of protection and a credit default event occurs, as defined under the terms of that particular swap agreement, the Fund will pay to the buyer of the protection, an amount up to the notional value of the swap and in certain instances, take delivery of the security. |
(i) Interest rate swaps outstanding as of September 30, 2006:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Unrealized |
| |
|
|
|
| Pay/Receive |
| Fixed |
| Expiration |
| Notional |
| Appreciation |
| |||
Counterparty |
| Floating Rate Index |
| Floating Rate |
| Rate |
| Date |
| Amount |
| (Depreciation) |
| |||
| ||||||||||||||||
Barclays |
| 3-Month USD-LIBOR |
| Pay |
| 5.000 | % |
| 12/20/08 |
| $ | 12,300,000 |
| $ | 115,088 |
|
Goldman Sachs |
| 3-Month USD-LIBOR |
| Pay |
| 5.000 | % |
| 12/20/08 |
|
| 2,800,000 |
|
| 26,199 |
|
UBS |
| 3-Month USD-LIBOR |
| Pay |
| 5.000 | % |
| 12/20/08 |
|
| 600,000 |
|
| 5,617 |
|
Barclays |
| 6-Month GBP-LIBOR |
| Pay |
| 5.000 | % |
| 06/15/09 |
| GBP | 1,200,000 |
|
| 6,460 |
|
UBS |
| 3-Month USD-LIBOR |
| Pay |
| 5.000 | % |
| 06/18/09 |
| $ | 12,000,000 |
|
| 40,114 |
|
Barclays |
| France CPI Excluding Tobacco |
| Pay |
| 2.103 | % |
| 10/15/10 |
| EUR | 500,000 |
|
| 4,306 |
|
UBS |
| France CPI Excluding Tobacco |
| Pay |
| 2.146 | % |
| 10/15/10 |
|
| 100,000 |
|
| 1,082 |
|
JPMorgan Chase |
| France CPI Excluding Tobacco |
| Pay |
| 2.261 | % |
| 07/14/11 |
|
| 500,000 |
|
| — |
|
JPMorgan Chase |
| France CPI Excluding Tobacco |
| Receive |
| 2.028 | % |
| 10/15/11 |
|
| 200,000 |
|
| — |
|
UBS |
| France CPI Excluding Tobacco |
| Pay |
| 2.095 | % |
| 10/15/11 |
|
| 300,000 |
|
| — |
|
Lehman Brothers |
| 3-Month USD-LIBOR |
| Receive |
| 5.000 | % |
| 12/20/11 |
| $ | 200,000 |
|
| (3,202 | ) |
Goldman Sachs |
| 3-Month USD-LIBOR |
| Receive |
| 5.000 | % |
| 12/20/13 |
|
| 300,000 |
|
| (6,175 | ) |
Goldman Sachs |
| 6-Month EUR-LIBOR |
| Receive |
| 4.500 | % |
| 06/17/15 |
| EUR | 500,000 |
|
| 28,567 |
|
UBS |
| Eurostat Eurozone HICP Excluding Tobacco |
| Receive |
| 2.275 | % |
| 10/15/16 |
|
| 200,000 |
|
| — |
|
UBS |
| France CPI Excluding Tobacco |
| Pay |
| 2.350 | % |
| 10/15/16 |
|
| 200,000 |
|
| 94 |
|
Goldman Sachs |
| 3-Month USD-LIBOR |
| Receive |
| 5.000 | % |
| 12/20/16 |
| $ | 4,100,000 |
|
| (121,631 | ) |
JPMorgan Chase |
| 3-Month USD-LIBOR |
| Receive |
| 5.000 | % |
| 12/20/16 |
|
| 300,000 |
|
| (8,867 | ) |
HSBC |
| 6-Month GBP-LIBOR |
| Receive |
| 4.250 | % |
| 06/12/36 |
| GBP | 200,000 |
|
| 10,953 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
|
|
|
|
|
| $ | 98,605 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
See Notes to Financial Statements | See explanation of symbols and terms, if any, on page A-38 |
|
|
A-29 |
PACIFIC FUNDS
PF PACIFIC LIFE MONEY MARKET FUND
Schedule of Investments
September 30, 2006 (Unaudited)
|
|
|
|
|
|
|
|
|
| Principal |
|
|
|
| |
|
| Amount |
| Value |
| ||
|
|
|
| ||||
SHORT-TERM INVESTMENTS - 102.83% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Certificates of Deposit - 6.55% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Royal Bank of Canada NY |
|
|
|
|
|
|
|
5.310% due 10/23/06 |
| $ | 500,000 |
| $ | 500,008 |
|
Wells Fargo Bank NA |
|
|
|
|
|
|
|
5.270% due 10/27/06 |
|
| 500,000 |
|
| 500,000 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 1,000,008 |
|
|
|
|
|
|
| ||
Commercial Paper - 65.51% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Air Products & Chemicals Inc |
|
|
|
|
|
|
|
5.210% due 10/10/06 |
|
| 500,000 |
|
| 499,349 |
|
Bank of America Corp |
|
|
|
|
|
|
|
5.320% due 10/10/06 |
|
| 750,000 |
|
| 749,002 |
|
BMW U.S. Capital LLC |
|
|
|
|
|
|
|
5.210% due 10/02/06 |
|
| 375,000 |
|
| 374,946 |
|
Cintas Corp |
|
|
|
|
|
|
|
5.240% due 10/05/06 |
|
| 250,000 |
|
| 249,854 |
|
Coca-Cola Enterprises Inc |
|
|
|
|
|
|
|
5.230% due 10/13/06 |
|
| 500,000 |
|
| 499,128 |
|
Emerson Electric Co |
|
|
|
|
|
|
|
5.210% due 10/03/06 |
|
| 500,000 |
|
| 499,855 |
|
General Electric Capital Corp |
|
|
|
|
|
|
|
5.220% due 10/11/06 |
|
| 595,000 |
|
| 594,137 |
|
Illinois Tool Works Inc |
|
|
|
|
|
|
|
5.220% due 10/04/06 |
|
| 370,000 |
|
| 369,839 |
|
5.220% due 10/12/06 |
|
| 205,000 |
|
| 204,673 |
|
Kimberly-Clark Worldwide Inc |
|
|
|
|
|
|
|
5.250% due 10/16/06 |
|
| 525,000 |
|
| 523,852 |
|
Lowe’s Cos Inc |
|
|
|
|
|
|
|
5.280% due 10/16/06 |
|
| 511,000 |
|
| 509,876 |
|
National Rural Utilities Cooperative Finance Corp |
|
|
|
|
|
|
|
5.250% due 10/26/06 |
|
| 600,000 |
|
| 597,813 |
|
Nestle Capital Corp |
|
|
|
|
|
|
|
5.210% due 10/03/06 |
|
| 395,000 |
|
| 394,886 |
|
New York Life Capital Corp |
|
|
|
|
|
|
|
5.250% due 10/11/06 |
|
| 460,000 |
|
| 459,329 |
|
Parker-Hannifin Corp |
|
|
|
|
|
|
|
5.250% due 10/06/06 |
|
| 500,000 |
|
| 499,635 |
|
Pitney Bowes Inc |
|
|
|
|
|
|
|
5.210% due 10/02/06 |
|
| 480,000 |
|
| 479,931 |
|
5.330% due 10/02/06 |
|
| 250,000 |
|
| 249,963 |
|
Societe Generale North America Inc |
|
|
|
|
|
|
|
5.240% due 10/04/06 |
|
| 500,000 |
|
| 499,782 |
|
Target Corp |
|
|
|
|
|
|
|
5.200% due 10/10/06 |
|
| 500,000 |
|
| 499,350 |
|
The Stanley Works |
|
|
|
|
|
|
|
5.230% due 10/11/06 |
|
| 425,000 |
|
| 424,383 |
|
UBS Finance LLC DE |
|
|
|
|
|
|
|
5.250% due 10/05/06 |
|
| 500,000 |
|
| 499,708 |
|
Wal-Mart Stores Inc |
|
|
|
|
|
|
|
5.230% due 10/17/06 |
|
| 330,000 |
|
| 329,233 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 10,008,524 |
|
|
|
|
|
|
| ||
Corporate Notes - 6.55% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
American Honda Finance Corp |
|
|
|
|
|
|
|
5.440% due 11/07/06 ~ § |
|
| 500,000 |
|
| 500,000 |
|
The Royal Bank of Scotland Group PLC (United Kingdom) |
|
|
|
|
|
|
|
5.410% due 11/24/06 ~ § |
|
| 500,000 |
|
| 500,065 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 1,000,065 |
|
|
|
|
|
|
| ||
U.S. Government Agency Issues - 24.22% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Federal Home Loan Bank |
|
|
|
|
|
|
|
5.000% due 03/06/07 § |
|
| 200,000 |
|
| 200,000 |
|
5.000% due 05/01/07 § |
|
| 500,000 |
|
| 500,000 |
|
5.050% due 03/05/07 § |
|
| 200,000 |
|
| 200,000 |
|
5.100% due 05/01/07 § |
|
| 500,000 |
|
| 500,000 |
|
5.250% due 10/20/06 |
|
| 250,000 |
|
| 250,000 |
|
5.250% due 11/15/06 |
|
| 250,000 |
|
| 250,000 |
|
5.350% due 08/27/07 § |
|
| 1,800,000 |
|
| 1,800,000 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 3,700,000 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
Total Short-Term Investments |
|
|
|
|
|
|
|
(Amortized Cost $15,708,597) |
|
|
|
|
| 15,708,597 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
TOTAL INVESTMENTS - 102.83% |
|
|
|
|
|
|
|
(Amortized Cost $15,708,597) |
|
|
|
|
| 15,708,597 |
|
|
|
|
|
|
|
|
|
OTHER ASSETS & LIABILITIES, NET - (2.83%) |
|
|
|
|
| (431,661 | ) |
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
NET ASSETS - 100.00% |
|
|
|
| $ | 15,276,936 |
|
|
|
|
|
|
|
Notes to Schedule of Investments
(a) As of September 30, 2006, the Fund was diversified as a percentage of net assets as follows:
|
|
|
|
|
Commercial Paper |
|
| 65.51 | % |
U.S. Government Agency Issues |
|
| 24.22 | % |
Certificates of Deposit |
|
| 6.55 | % |
Corporate Notes |
|
| 6.55 | % |
|
|
| ||
|
|
| 102.83 | % |
Other Assets & Liabilities, Net |
|
| (2.83 | %) |
|
|
| ||
|
|
| 100.00 | % |
|
|
|
(b) Short-term securities reflect either the stated coupon rate or the annualized effective yield on the date of purchase for discounted securities.
|
|
See Notes to Financial Statements | See explanation of symbols and terms, if any, on page A-38 |
|
|
A-30 |
|
PACIFIC FUNDS |
|
|
|
|
|
|
|
|
|
| Shares |
| Value |
| ||
|
|
|
| ||||
COMMON STOCKS - 93.73% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consumer Discretionary - 17.01% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EchoStar Communications Corp ‘A’ * |
|
| 14,900 |
| $ | 487,826 |
|
Kimberly-Clark Corp |
|
| 12,300 |
|
| 803,928 |
|
Liberty Media Holding Corp - Capital ‘A’ * |
|
| 3,150 |
|
| 263,246 |
|
Liberty Media Holding Corp - Interactive ‘A’ * |
|
| 14,500 |
|
| 295,510 |
|
McDonald’s Corp |
|
| 24,600 |
|
| 962,352 |
|
Newell Rubbermaid Inc |
|
| 20,700 |
|
| 586,224 |
|
News Corp ‘B’ |
|
| 59,500 |
|
| 1,228,080 |
|
Target Corp |
|
| 9,300 |
|
| 513,825 |
|
The Home Depot Inc |
|
| 24,000 |
|
| 870,480 |
|
Time Warner Inc |
|
| 44,300 |
|
| 807,589 |
|
Wal-Mart Stores Inc |
|
| 20,500 |
|
| 1,011,060 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 7,830,120 |
|
|
|
|
|
|
| ||
Consumer Staples - 4.86% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Altria Group Inc |
|
| 19,900 |
|
| 1,523,345 |
|
The Kroger Co |
|
| 30,800 |
|
| 712,712 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 2,236,057 |
|
|
|
|
|
|
| ||
Energy - 0.31% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Halliburton Co |
|
| 5,000 |
|
| 142,250 |
|
|
|
|
|
|
| ||
Financial Services - 30.73% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Aflac Inc |
|
| 11,900 |
|
| 544,544 |
|
American Express Co |
|
| 17,900 |
|
| 1,003,832 |
|
American International Group Inc |
|
| 12,900 |
|
| 854,754 |
|
Bank of America Corp |
|
| 18,900 |
|
| 1,012,473 |
|
Capital One Financial Corp |
|
| 15,300 |
|
| 1,203,498 |
|
Freddie Mac |
|
| 12,200 |
|
| 809,226 |
|
Golden West Financial Corp |
|
| 11,000 |
|
| 849,750 |
|
JPMorgan Chase & Co |
|
| 24,000 |
|
| 1,127,040 |
|
Loews Corp |
|
| 25,400 |
|
| 962,660 |
|
Marsh & McLennan Cos Inc |
|
| 24,700 |
|
| 695,305 |
|
Merrill Lynch & Co Inc |
|
| 16,300 |
|
| 1,274,986 |
|
The Bank of New York Co Inc |
|
| 13,600 |
|
| 479,536 |
|
The Chubb Corp |
|
| 14,580 |
|
| 757,577 |
|
The Goldman Sachs Group Inc |
|
| 3,700 |
|
| 625,929 |
|
The St. Paul Travelers Cos Inc |
|
| 15,200 |
|
| 712,728 |
|
Wachovia Corp |
|
| 7,200 |
|
| 401,760 |
|
Wells Fargo & Co |
|
| 23,000 |
|
| 832,140 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 14,147,738 |
|
|
|
|
|
|
| ||
Health Care - 8.59% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Abbott Laboratories |
|
| 13,300 |
|
| 645,848 |
|
Johnson & Johnson |
|
| 7,300 |
|
| 474,062 |
|
Novartis AG ADR (Switzerland) |
|
| 13,000 |
|
| 759,720 |
|
Sanofi-Aventis ADR (France) |
|
| 11,300 |
|
| 502,511 |
|
UnitedHealth Group Inc |
|
| 14,900 |
|
| 733,080 |
|
WellPoint Inc * |
|
| 10,900 |
|
| 839,845 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 3,955,066 |
|
|
|
|
|
|
| ||
Integrated Oils - 6.11% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GlobalSantaFe Corp (Cayman) |
|
| 12,200 |
|
| 609,878 |
|
Royal Dutch Shell PLC ‘A’ ADR (United Kingdom) |
|
| 6,900 |
|
| 456,090 |
|
Suncor Energy Inc (Canada) |
|
| 6,600 |
|
| 475,530 |
|
Total SA ADR (France) |
|
| 19,300 |
|
| 1,272,642 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 2,814,140 |
|
|
|
|
|
|
| ||
Materials & Processing - 4.87% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Air Products & Chemicals Inc |
|
| 6,900 |
|
| 457,953 |
|
Avery Dennison Corp |
|
| 9,600 |
|
| 577,632 |
|
E.I. du Pont de Nemours & Co |
|
| 18,100 |
|
| 775,404 |
|
Masco Corp |
|
| 15,800 |
|
| 433,236 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 2,244,225 |
|
|
|
|
|
|
| ||
Multi-Industry - 1.73% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Textron Inc |
|
| 9,100 |
|
| 796,250 |
|
|
|
|
|
|
| ||
Producer Durables - 4.14% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parker-Hannifin Corp |
|
| 5,940 |
|
| 461,716 |
|
The Boeing Co |
|
| 8,500 |
|
| 670,225 |
|
United Technologies Corp |
|
| 12,200 |
|
| 772,870 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 1,904,811 |
|
|
|
|
|
|
| ||
Technology - 4.72% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
International Business Machines Corp |
|
| 6,100 |
|
| 499,834 |
|
Microsoft Corp |
|
| 17,400 |
|
| 475,542 |
|
Nokia OYJ ADR (Finland) |
|
| 35,200 |
|
| 693,088 |
|
Raytheon Co |
|
| 10,500 |
|
| 504,105 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 2,172,569 |
|
|
|
|
|
|
| ||
Utilities - 10.66% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Alltel Corp |
|
| 14,600 |
|
| 810,300 |
|
AT&T Inc |
|
| 33,747 |
|
| 1,098,802 |
|
Embarq Corp |
|
| 11,475 |
|
| 555,046 |
|
Sempra Energy |
|
| 24,500 |
|
| 1,231,125 |
|
SES GLOBAL SA FDR + (Luxembourg) |
|
| 10,700 |
|
| 160,569 |
|
Sprint Nextel Corp |
|
| 61,401 |
|
| 1,053,027 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 4,908,869 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
Total Common Stocks |
|
|
|
|
| 43,152,095 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
SHORT-TERM INVESTMENT - 4.58% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Money Market Fund - 4.58% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BlackRock Liquidity Funds Institutional TempFund |
|
| 2,110,139 |
|
| 2,110,139 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
Total Short-Term Investment |
|
|
|
|
| 2,110,139 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
TOTAL INVESTMENTS - 98.31% |
|
|
|
|
| 45,262,234 |
|
|
|
|
|
|
|
|
|
OTHER ASSETS & LIABILITIES, NET - 1.69% |
|
|
|
|
| 779,355 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
NET ASSETS - 100.00% |
|
|
|
| $ | 46,041,589 |
|
|
|
|
|
|
|
|
|
See Notes to Financial Statements | See explanation of symbols and terms, if any, on page A-38 |
|
|
A-31 |
|
PACIFIC FUNDS |
Note to Schedule of Investments
(a) As of September 30, 2006, the Fund was diversified as a percentage of net assets as follows:
|
|
|
|
|
Financial Services |
|
| 30.73 | % |
Consumer Discretionary |
|
| 17.01 | % |
Utilities |
|
| 10.66 | % |
Health Care |
|
| 8.59 | % |
Integrated Oils |
|
| 6.11 | % |
Materials & Processing |
|
| 4.87 | % |
Consumer Staples |
|
| 4.86 | % |
Technology |
|
| 4.72 | % |
Short-Term Investment |
|
| 4.58 | % |
Producer Durables |
|
| 4.14 | % |
Multi-Industry |
|
| 1.73 | % |
Energy |
|
| 0.31 | % |
|
|
| ||
|
|
| 98.31 | % |
Other Assets & Liabilities, Net |
|
| 1.69 | % |
|
|
| ||
|
|
| 100.00 | % |
|
|
|
|
|
See Notes to Financial Statements | See explanation of symbols and terms, if any, on page A-38 |
|
|
A-32 |
|
PACIFIC FUNDS |
|
|
|
|
|
|
|
|
|
| Shares |
| Value |
| ||
|
|
|
| ||||
COMMON STOCKS - 95.85% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Autos & Transportation - 0.34% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Southwest Airlines Co |
|
| 13,100 |
| $ | 218,246 |
|
|
|
|
|
|
| ||
Consumer Discretionary - 14.26% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Clear Channel Communications Inc |
|
| 38,953 |
|
| 1,123,794 |
|
Federated Department Stores Inc |
|
| 6,568 |
|
| 283,803 |
|
Gannett Co Inc |
|
| 4,800 |
|
| 272,784 |
|
Kimberly-Clark Corp |
|
| 20,200 |
|
| 1,320,272 |
|
Liberty Media Holding Corp - Capital ‘A’ * |
|
| 5,475 |
|
| 457,546 |
|
Liberty Media Holding Corp - Interactive ‘A’ * |
|
| 31,375 |
|
| 639,423 |
|
Lowe’s Cos Inc |
|
| 5,900 |
|
| 165,554 |
|
News Corp ‘B’ |
|
| 27,600 |
|
| 569,664 |
|
The Walt Disney Co |
|
| 23,300 |
|
| 720,203 |
|
Time Warner Inc |
|
| 69,100 |
|
| 1,259,693 |
|
Viacom Inc ‘B’ * |
|
| 25,650 |
|
| 953,667 |
|
Wal-Mart Stores Inc |
|
| 29,600 |
|
| 1,459,872 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 9,226,275 |
|
|
|
|
|
|
| ||
Consumer Staples - 7.81% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Altria Group Inc |
|
| 11,800 |
|
| 903,290 |
|
Anheuser-Busch Cos Inc |
|
| 8,990 |
|
| 427,115 |
|
Cadbury Schweppes PLC ADR (United Kingdom) |
|
| 8,400 |
|
| 359,268 |
|
Kraft Foods Inc ‘A’ |
|
| 29,100 |
|
| 1,037,706 |
|
The Coca-Cola Co |
|
| 25,800 |
|
| 1,152,744 |
|
Unilever NV ‘NY’ (Netherlands) |
|
| 47,700 |
|
| 1,170,558 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 5,050,681 |
|
|
|
|
|
|
| ||
Financial Services - 28.11% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Aflac Inc |
|
| 7,400 |
|
| 338,624 |
|
American International Group Inc |
|
| 9,700 |
|
| 642,722 |
|
Bank of America Corp |
|
| 41,200 |
|
| 2,207,084 |
|
Barclays PLC ADR (United Kingdom) |
|
| 3,100 |
|
| 157,387 |
|
Berkshire Hathaway Inc ‘B’ * |
|
| 105 |
|
| 333,270 |
|
Citigroup Inc |
|
| 49,300 |
|
| 2,448,731 |
|
Fannie Mae |
|
| 5,900 |
|
| 329,869 |
|
First Data Corp |
|
| 9,900 |
|
| 415,800 |
|
Freddie Mac |
|
| 39,400 |
|
| 2,613,402 |
|
Genworth Financial Inc ‘A’ |
|
| 5,100 |
|
| 178,551 |
|
JPMorgan Chase & Co |
|
| 17,200 |
|
| 807,712 |
|
Merrill Lynch & Co Inc |
|
| 9,200 |
|
| 719,624 |
|
MetLife Inc |
|
| 7,500 |
|
| 425,100 |
|
SunTrust Banks Inc |
|
| 3,000 |
|
| 231,840 |
|
The Bank of New York Co Inc |
|
| 22,100 |
|
| 779,246 |
|
The Chubb Corp |
|
| 18,080 |
|
| 939,437 |
|
The Hartford Financial Services Group Inc |
|
| 2,800 |
|
| 242,900 |
|
The PNC Financial Services Group Inc |
|
| 9,400 |
|
| 680,936 |
|
The St. Paul Travelers Cos Inc |
|
| 13,086 |
|
| 613,602 |
|
Torchmark Corp |
|
| 5,500 |
|
| 347,105 |
|
U.S. Bancorp |
|
| 8,300 |
|
| 275,726 |
|
Wachovia Corp |
|
| 23,956 |
|
| 1,336,745 |
|
Wells Fargo & Co |
|
| 31,200 |
|
| 1,128,816 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 18,194,229 |
|
|
|
|
|
|
| ||
Health Care - 17.81% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Abbott Laboratories |
|
| 17,300 |
|
| 840,088 |
|
Boston Scientific Corp * |
|
| 26,500 |
|
| 391,935 |
|
Bristol-Myers Squibb Co |
|
| 61,700 |
|
| 1,537,564 |
|
Cardinal Health Inc |
|
| 8,900 |
|
| 585,086 |
|
Eli Lilly & Co |
|
| 14,500 |
|
| 826,500 |
|
GlaxoSmithKline PLC ADR (United Kingdom) |
|
| 33,700 |
|
| 1,793,851 |
|
Pfizer Inc |
|
| 46,100 |
|
| 1,307,396 |
|
Roche Holding AG ADR (Switzerland) |
|
| 13,500 |
|
| 1,163,803 |
|
Sanofi-Aventis ADR (France) |
|
| 13,100 |
|
| 582,557 |
|
Schering-Plough Corp |
|
| 58,500 |
|
| 1,292,265 |
|
Wyeth |
|
| 23,700 |
|
| 1,204,908 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 11,525,953 |
|
|
|
|
|
|
| ||
Integrated Oils - 0.59% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total SA ADR (France) |
|
| 5,800 |
|
| 382,452 |
|
|
|
|
|
|
| ||
Materials & Processing - 8.95% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Alcoa Inc |
|
| 47,900 |
|
| 1,343,116 |
|
E.I. du Pont de Nemours & Co |
|
| 37,900 |
|
| 1,623,636 |
|
International Paper Co |
|
| 66,458 |
|
| 2,301,440 |
|
Rohm & Haas Co |
|
| 9,800 |
|
| 464,030 |
|
The Dow Chemical Co |
|
| 1,600 |
|
| 62,368 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 5,794,590 |
|
|
|
|
|
|
| ||
Multi-Industry - 0.60% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
General Electric Co |
|
| 11,000 |
|
| 388,300 |
|
|
|
|
|
|
| ||
Producer Durables - 0.48% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
KLA-Tencor Corp |
|
| 7,000 |
|
| 311,290 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
Technology - 5.35% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Affiliated Computer Services Inc ‘A’ * |
|
| 3,321 |
|
| 172,227 |
|
Cisco Systems Inc * |
|
| 15,200 |
|
| 349,600 |
|
Dell Inc * |
|
| 33,400 |
|
| 762,856 |
|
Hewlett-Packard Co |
|
| 6,700 |
|
| 245,823 |
|
Intel Corp |
|
| 42,700 |
|
| 878,339 |
|
International Business Machines Corp |
|
| 5,700 |
|
| 467,058 |
|
McAfee Inc * |
|
| 10,100 |
|
| 247,046 |
|
Microsoft Corp |
|
| 12,500 |
|
| 341,625 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 3,464,574 |
|
|
|
|
|
|
| ||
Utilities - 11.55% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
American Electric Power Co Inc |
|
| 11,500 |
|
| 418,255 |
|
AT&T Inc |
|
| 61,200 |
|
| 1,992,672 |
|
Comcast Corp ‘A’ * |
|
| 38,500 |
|
| 1,418,725 |
|
Embarq Corp |
|
| 2,485 |
|
| 120,199 |
|
FirstEnergy Corp |
|
| 2,200 |
|
| 122,892 |
|
Sprint Nextel Corp |
|
| 61,800 |
|
| 1,059,870 |
|
Verizon Communications Inc |
|
| 63,100 |
|
| 2,342,903 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 7,475,516 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
Total Common Stocks |
|
|
|
|
| 62,032,106 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
|
| Principal |
|
|
|
| |
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
SHORT-TERM INVESTMENTS - 5.26% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Government Agency Issue - 5.10% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Federal Home Loan Bank |
| $ | 3,300,000 |
|
| 3,299,565 |
|
|
|
|
|
|
|
|
|
See Notes to Financial Statements | See explanation of symbols and terms, if any, on page A-38 |
|
|
A-33 |
|
PACIFIC FUNDS |
|
|
|
|
|
|
|
|
|
| Shares |
| Value |
| ||
|
|
|
| ||||
|
|
|
|
|
| ||
Money Market Funds - 0.16% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BlackRock Liquidity Funds Institutional TempCash |
|
| 51,418 |
| $ | 51,418 |
|
BlackRock Liquidity Funds Institutional TempFund |
|
| 51,417 |
|
| 51,417 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 102,835 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
Total Short-Term Investments |
|
|
|
|
| 3,402,400 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
TOTAL INVESTMENTS - 101.11% |
|
|
|
|
| 65,434,506 |
|
|
|
|
|
|
|
|
|
OTHER ASSETS & LIABILITIES, NET - (1.11%) |
|
|
|
|
| (718,634 | ) |
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
NET ASSETS - 100.00% |
|
|
|
| $ | 64,715,872 |
|
|
|
|
|
|
|
Notes to Schedule of Investments
(a) As of September 30, 2006, the Fund was diversified as a percentage of net assets as follows:
|
|
|
|
|
Financial Services |
|
| 28.11 | % |
Health Care |
|
| 17.81 | % |
Consumer Discretionary |
|
| 14.26 | % |
Utilities |
|
| 11.55 | % |
Materials & Processing |
|
| 8.95 | % |
Consumer Staples |
|
| 7.81 | % |
Technology |
|
| 5.35 | % |
Short-Term Investments |
|
| 5.26 | % |
Multi-Industry |
|
| 0.60 | % |
Integrated Oils |
|
| 0.59 | % |
Producer Durables |
|
| 0.48 | % |
Autos & Transportation |
|
| 0.34 | % |
|
|
| ||
|
|
| 101.11 | % |
Other Assets & Liabilities, Net |
|
| (1.11 | %) |
|
|
| ||
|
|
| 100.00 | % |
|
|
|
(b) Short-term securities reflect either the stated coupon rate or the annualized effective yield on the date of purchase for discounted securities.
|
|
See Notes to Financial Statements | See explanation of symbols and terms, if any, on page A-38 |
|
|
A-34 |
|
PACIFIC FUNDS |
|
|
|
|
|
|
|
|
|
| Shares |
| Value |
| ||
|
|
|
| ||||
COMMON STOCKS - 97.32% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Autos & Transportation - 5.66% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
C.H. Robinson Worldwide Inc |
|
| 30,272 |
| $ | 1,349,526 |
|
Expeditors International of Washington Inc |
|
| 34,861 |
|
| 1,554,103 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 2,903,629 |
|
|
|
|
|
|
| ||
Consumer Discretionary - 42.38% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Abercrombie & Fitch Co ‘A’ |
|
| 23,163 |
|
| 1,609,365 |
|
Activision Inc * |
|
| 85,505 |
|
| 1,291,125 |
|
Amazon.com Inc * |
|
| 38,314 |
|
| 1,230,646 |
|
Apollo Group Inc ‘A’ * |
|
| 19,866 |
|
| 978,202 |
|
Baidu.com Inc ADR * (Cayman) |
|
| 2,990 |
|
| 261,745 |
|
Choice Hotels International Inc |
|
| 16,811 |
|
| 687,570 |
|
ChoicePoint Inc * |
|
| 22,193 |
|
| 794,509 |
|
Coach Inc * |
|
| 44,207 |
|
| 1,520,721 |
|
Expedia Inc * |
|
| 34,681 |
|
| 543,798 |
|
Focus Media Holding Ltd ADR * (Cayman) |
|
| 8,738 |
|
| 506,105 |
|
Grupo Televisa SA ADR (Mexico) |
|
| 52,646 |
|
| 1,119,254 |
|
InterContinental Hotels Group PLC ADR (United Kingdom) |
|
| 56,652 |
|
| 999,341 |
|
International Game Technology |
|
| 19,488 |
|
| 808,752 |
|
Iron Mountain Inc * |
|
| 34,785 |
|
| 1,493,668 |
|
ITT Educational Services Inc * |
|
| 11,447 |
|
| 758,936 |
|
Lamar Advertising Co ‘A’ * |
|
| 13,916 |
|
| 743,253 |
|
Monster Worldwide Inc * |
|
| 36,630 |
|
| 1,325,640 |
|
Station Casinos Inc |
|
| 9,072 |
|
| 524,634 |
|
The Cheesecake Factory Inc * |
|
| 19,649 |
|
| 534,256 |
|
The Corporate Executive Board Co |
|
| 21,687 |
|
| 1,949,878 |
|
Weight Watchers International Inc |
|
| 12,426 |
|
| 550,969 |
|
Wendy’s International Inc |
|
| 11,842 |
|
| 793,414 |
|
Wynn Resorts Ltd * |
|
| 10,761 |
|
| 731,856 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 21,757,637 |
|
|
|
|
|
|
| ||
Consumer Staples - 4.06% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loews Corp-Carolina Group |
|
| 24,866 |
|
| 1,377,328 |
|
Wm. Wrigley Jr. Co |
|
| 15,330 |
|
| 706,100 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 2,083,428 |
|
|
|
|
|
|
| ||
Energy - 1.71% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Southwestern Energy Co * |
|
| 29,402 |
|
| 878,238 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
Financial Services - 10.44% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Brookfield Asset Management Inc ‘A’ (Canada) |
|
| 27,146 |
|
| 1,203,654 |
|
Brown & Brown Inc |
|
| 16,673 |
|
| 509,527 |
|
Calamos Asset Management Inc ‘A’ |
|
| 35,239 |
|
| 1,033,207 |
|
CB Richard Ellis Group Inc ‘A’ * |
|
| 30,154 |
|
| 741,788 |
|
Chicago Mercantile Exchange Holdings Inc |
|
| 1,462 |
|
| 699,202 |
|
Janus Capital Group Inc |
|
| 23,650 |
|
| 466,378 |
|
Leucadia National Corp |
|
| 27,051 |
|
| 707,925 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 5,361,681 |
|
|
|
|
|
|
| ||
Health Care - 8.18% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dade Behring Holdings Inc |
|
| 36,984 |
|
| 1,485,277 |
|
Gen-Probe Inc * |
|
| 19,445 |
|
| 911,776 |
|
Stericycle Inc * |
|
| 18,977 |
|
| 1,324,405 |
|
Techne Corp * |
|
| 9,342 |
|
| 475,134 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 4,196,592 |
|
|
|
|
|
|
| ||
Integrated Oils - 4.77% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ultra Petroleum Corp * (Canada) |
|
| 50,848 |
|
| 2,446,297 |
|
|
|
|
|
|
| ||
Materials & Processing - 3.17% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Florida Rock Industries Inc |
|
| 13,835 |
|
| 535,553 |
|
MeadWestvaco Corp |
|
| 18,168 |
|
| 481,634 |
|
The St. Joe Co |
|
| 11,073 |
|
| 607,575 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 1,624,762 |
|
|
|
|
|
|
| ||
Producer Durables - 7.24% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Crown Castle International Corp * |
|
| 35,650 |
|
| 1,256,306 |
|
Desarrolladora Homex SA de CV ADR * (Mexico) |
|
| 21,072 |
|
| 795,679 |
|
M.D.C. Holdings Inc |
|
| 8,514 |
|
| 395,475 |
|
NVR Inc * |
|
| 1,022 |
|
| 546,770 |
|
Pentair Inc |
|
| 27,671 |
|
| 724,703 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 3,718,933 |
|
|
|
|
|
|
| ||
Technology - 5.41% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Akamai Technologies Inc * |
|
| 30,197 |
|
| 1,509,548 |
|
Marvell Technology Group Ltd * (Bermuda) |
|
| 31,441 |
|
| 609,012 |
|
Tessera Technologies Inc * |
|
| 18,920 |
|
| 658,038 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 2,776,598 |
|
|
|
|
|
|
| ||
Utilities - 4.30% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NII Holdings Inc * |
|
| 26,509 |
|
| 1,647,800 |
|
Questar Corp |
|
| 6,859 |
|
| 560,860 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 2,208,660 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Common Stocks |
|
|
|
|
| 49,956,455 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
|
| Principal |
|
|
|
| |
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
SHORT-TERM INVESTMENTS - 2.24% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Government Agency Issue - - 2.23% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Federal Home Loan Bank |
| $ | 1,145,000 |
|
| 1,144,849 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
|
| Shares |
|
|
|
| |
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
Money Market Fund - 0.01% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BlackRock Liquidity Funds Institutional TempCash |
|
| 4,759 |
|
| 4,759 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
Total Short-Term Investments |
|
|
|
|
| 1,149,608 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
TOTAL INVESTMENTS - 99.56% |
|
|
|
|
| 51,106,063 |
|
|
|
|
|
|
|
|
|
OTHER ASSETS & LIABILITIES, NET - 0.44% |
|
|
|
|
| 227,762 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
NET ASSETS - 100.00% |
|
|
|
| $ | 51,333,825 |
|
|
|
|
|
|
|
|
|
See Notes to Financial Statements | See explanation of symbols and terms, if any, on page A-38 |
| |
A-35 |
|
PACIFIC FUNDS |
Notes to Schedule of Investments
(a) As of September 30, 2006, the Fund was diversified as a percentage of net assets as follows:
|
|
|
|
|
Consumer Discretionary |
|
| 42.38 | % |
Financial Services |
|
| 10.44 | % |
Health Care |
|
| 8.18 | % |
Producer Durables |
|
| 7.24 | % |
Autos & Transportation |
|
| 5.66 | % |
Technology |
|
| 5.41 | % |
Integrated Oils |
|
| 4.77 | % |
Utilities |
|
| 4.30 | % |
Consumer Staples |
|
| 4.06 | % |
Materials & Processing |
|
| 3.17 | % |
Short-Term Investments |
|
| 2.24 | % |
Energy |
|
| 1.71 | % |
|
|
| ||
|
|
| 99.56 | % |
Other Assets & Liabilities, Net |
|
| 0.44 | % |
|
|
| ||
|
|
| 100.00 | % |
|
|
|
(b) Short-term securities reflect either the stated coupon rate or the annualized effective yield on the date of purchase for discounted securities.
|
|
See Notes to Financial Statements | See explanation of symbols and terms, if any, on page A-38 |
| |
A-36 |
|
PACIFIC FUNDS |
|
|
|
|
|
|
|
|
|
| Shares |
| Value |
| ||
|
|
|
| ||||
COMMON STOCKS - 95.44% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consumer Discretionary - 9.99% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gaylord Entertainment Co * |
|
| 1,006 |
| $ | 44,113 |
|
Hilton Hotels Corp |
|
| 31,530 |
|
| 878,110 |
|
Morgans Hotel Group Co * |
|
| 14,330 |
|
| 179,125 |
|
Starwood Hotels & Resorts Worldwide Inc |
|
| 23,735 |
|
| 1,357,405 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 2,458,753 |
|
|
|
|
|
|
| ||
Financial Services - 81.89% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Acadia Realty Trust REIT |
|
| 4,070 |
|
| 103,785 |
|
AMB Property Corp REIT |
|
| 8,445 |
|
| 465,404 |
|
American Campus Communities Inc REIT |
|
| 3,280 |
|
| 83,673 |
|
Archstone-Smith Trust REIT |
|
| 14,185 |
|
| 772,231 |
|
AvalonBay Communities Inc REIT |
|
| 8,146 |
|
| 980,778 |
|
Boston Properties Inc REIT |
|
| 13,679 |
|
| 1,413,588 |
|
Brandywine Realty Trust REIT |
|
| 16,948 |
|
| 551,657 |
|
BRE Properties Inc ‘A’ REIT |
|
| 5,295 |
|
| 316,270 |
|
Brookfield Properties Corp (Canada) |
|
| 31,942 |
|
| 1,128,191 |
|
Cedar Shopping Centers Inc REIT |
|
| 1,900 |
|
| 30,723 |
|
CentraCore Properties Trust REIT |
|
| 4,228 |
|
| 134,239 |
|
Cogdell Spencer Inc REIT |
|
| 1,850 |
|
| 38,388 |
|
Equity Lifestyle Properties Inc REIT |
|
| 7,180 |
|
| 328,198 |
|
Equity Office Properties Trust REIT |
|
| 28,865 |
|
| 1,147,672 |
|
Equity Residential REIT |
|
| 26,706 |
|
| 1,350,789 |
|
Essex Property Trust Inc REIT |
|
| 3,873 |
|
| 470,182 |
|
Federal Realty Investment Trust REIT |
|
| 8,528 |
|
| 633,630 |
|
General Growth Properties Inc REIT |
|
| 11,084 |
|
| 528,153 |
|
Heritage Property Investment Trust Inc REIT |
|
| 265 |
|
| 9,662 |
|
Hersha Hospitality Trust REIT |
|
| 4,891 |
|
| 46,954 |
|
Host Hotels & Resorts Inc REIT |
|
| 50,105 |
|
| 1,148,908 |
|
Legacy Hotels REIT (Canada) |
|
| 24,300 |
|
| 209,223 |
|
Liberty Property Trust REIT |
|
| 5,415 |
|
| 258,783 |
|
Mack-Cali Realty Corp REIT |
|
| 12,021 |
|
| 622,688 |
|
Plum Creek Timber Co Inc REIT |
|
| 6,010 |
|
| 204,580 |
|
Post Properties Inc REIT |
|
| 9,861 |
|
| 468,595 |
|
ProLogis REIT |
|
| 5,862 |
|
| 334,486 |
|
Public Storage Inc REIT |
|
| 13,668 |
|
| 1,175,272 |
|
Ramco-Gershenson Properties Trust REIT |
|
| 800 |
|
| 25,560 |
|
Reckson Associates Realty Corp REIT |
|
| 545 |
|
| 23,326 |
|
Regency Centers Corp REIT |
|
| 10,470 |
|
| 719,917 |
|
Republic Property Trust REIT |
|
| 5,910 |
|
| 65,128 |
|
Senior Housing Properties Trust REIT |
|
| 13,740 |
|
| 293,212 |
|
Simon Property Group Inc REIT |
|
| 24,945 |
|
| 2,260,516 |
|
SL Green Realty Corp REIT |
|
| 1,625 |
|
| 181,513 |
|
Taubman Centers Inc REIT |
|
| 1,864 |
|
| 82,799 |
|
The Macerich Co REIT |
|
| 9,085 |
|
| 693,731 |
|
Universal Health Realty Income Trust REIT |
|
| 3,000 |
|
| 107,550 |
|
Vornado Realty Trust REIT |
|
| 6,615 |
|
| 721,035 |
|
Windrose Medical Properties Trust REIT |
|
| 1,430 |
|
| 25,282 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 20,156,271 |
|
|
|
|
|
|
| ||
Health Care - 1.64% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sunrise Senior Living REIT (Canada) |
|
| 23,630 |
|
| 217,159 |
|
Tenet Healthcare Corp * |
|
| 23,020 |
|
| 187,383 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 404,542 |
|
|
|
|
|
|
| ||
Materials & Processing - 1.92% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Brookfield Homes Corp |
|
| 5,396 |
|
| 151,951 |
|
Forest City Enterprises Inc ‘A’ |
|
| 5,885 |
|
| 319,556 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 471,507 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
Total Common Stocks |
|
|
|
|
| 23,491,073 |
|
|
|
|
|
|
| ||
SHORT-TERM INVESTMENTS - 4.73% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Money Market Funds - 4.73% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BlackRock Liquidity Funds Institutional TempCash |
|
| 55,186 |
|
| 55,186 |
|
BlackRock Liquidity Funds Institutional TempFund |
|
| 1,110,894 |
|
| 1,110,894 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 1,166,080 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
Total Short-Term Investments |
|
|
|
|
| 1,166,080 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
TOTAL INVESTMENTS - 100.17% |
|
|
|
|
| 24,657,153 |
|
|
|
|
|
|
|
|
|
OTHER ASSETS & LIABILITIES, NET - (0.17%) |
|
|
|
|
| (43,058 | ) |
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
NET ASSETS - 100.00% |
|
|
|
| $ | 24,614,095 |
|
|
|
|
|
|
|
Note to Schedule of Investments
(a) As of September 30, 2006, the Fund was diversified by property sector as a percentage of net assets as follows:
|
|
|
|
|
Office/Industrial |
|
| 25.16 | % |
Retail |
|
| 20.67 | % |
Residential |
|
| 18.67 | % |
Lodging |
|
| 15.70 | % |
Diversified |
|
| 6.11 | % |
Self-Storage |
|
| 4.77 | % |
Health Care/Assisted Living |
|
| 3.53 | % |
Land |
|
| 0.83 | % |
|
|
| ||
|
|
| 95.44 | % |
Short-Term Investments |
|
| 4.73 | % |
Other Assets & Liabilities, Net |
|
| (0.17 | %) |
|
|
| ||
|
|
| 100.00 | % |
|
|
|
|
|
See Notes to Financial Statements | See explanation of symbols and terms, if any, on page A-38 |
| |
A-37 |
|
PACIFIC FUNDS |
|
|
Explanation of Symbols for Schedules of Investments | |
| |
* | Non-income producing securities. |
| |
+ | Securities were fair valued under procedures established by the Pacific Funds’ Board of Trustees. |
| |
~ | Securities are not registered under the Securities Act of 1933 (1933 Act). These securities may be sold to “qualified institutional buyers” in transactions exempt from registration pursuant to Rule 144A of the 1933 Act. |
| |
# | Securities purchased on a when-issued or delayed-delivery basis. |
| |
‡ | Securities were fully/partially segregated with the custodian/broker to cover margin requirements for open futures contracts as of September 30, 2006. |
| |
“ | Pass-through securities backed by a pool of mortgages or other loans on which principal payments are periodically made. Therefore, the effective maturity is shorter than the stated maturity. |
| |
^ | Securities with their principal amount adjusted for inflation. |
| |
§ | Variable rate securities. |
| |
± | Securities are grouped by coupon rate and represent a range of maturities. |
|
|
Explanation of Terms for Schedules of Investments | |
| |
Currency Abbreviations: | |
| |
CHF | Swiss Franc |
CNY | Chinese Renminbi |
EUR | Euro |
GBP | British Pound |
JPY | Japanese Yen |
KRW | Korean Won |
USD | United States Dollar |
|
|
Other Abbreviations: | |
|
|
ADR | American Depositary Receipt |
CBOT | Chicago Board of Trade |
CME | Chicago Mercantile Exchange |
CPI | Consumer Price Index |
CVA | Certificaten Van Aandelen (Dutch Certificate) |
FDR | Fiduciary Depositary Receipt |
GDR | Global Depositary Receipt |
LIBOR | London Interbank Offered Rate |
‘NY’ | New York Shares |
NYSE | New York Stock Exchange |
OTC | Over the Counter |
REIT | Real Estate Investment Trust |
RNC | Riparmio Non-Convertible (Non-convertible savings shares on Italian Stock Exchanges) |
TSE | Toronto Stock Exchange |
|
See Notes to Financial Statements |
|
A-38 |
[THIS PAGE INTENTIONALLY LEFT BLANK]
|
PACIFIC FUNDS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| PF Portfolio |
| PF Portfolio |
| PF Portfolio |
| PF Portfolio |
| PF Portfolio |
| PF |
| PF Goldman |
| |||||||
|
| |||||||||||||||||||||
ASSETS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investments, at cost |
| $ | 24,572,798 |
| $ | 64,493,521 |
| $ | 237,492,512 |
| $ | 242,182,959 |
| $ | 94,394,368 |
| $ | 53,499,213 |
| $ | 52,330,637 |
|
|
| |||||||||||||||||||||
Investments, at value |
| $ | 25,161,793 |
| $ | 67,620,587 |
| $ | 253,369,661 |
| $ | 262,798,671 |
| $ | 104,860,263 |
| $ | 56,526,805 |
| $ | 52,338,724 |
|
Cash (1) |
|
| 50,109 |
|
| 93,860 |
|
| — |
|
| 387,844 |
|
| 601,071 |
|
| 1,270,292 |
|
| 85,000 |
|
Foreign currency held, at value (2) |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
| 194,234 |
|
| — |
|
Receivables: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dividends and interest |
|
| 147 |
|
| 205 |
|
| 1,365 |
|
| 1,075 |
|
| 765 |
|
| 157,785 |
|
| 323,633 |
|
Foreign tax reclaim |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
| 130,076 |
|
| — |
|
Fund shares sold |
|
| 52,113 |
|
| 509,059 |
|
| 1,649,478 |
|
| 2,104,926 |
|
| 798,385 |
|
| 92,744 |
|
| 101,187 |
|
Securities sold |
|
| — |
|
| — |
|
| 96,271 |
|
| — |
|
| — |
|
| 1,146,266 |
|
| — |
|
Variation margin |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
| 17,043 |
|
| — |
|
Due from adviser |
|
| 18,973 |
|
| 40,861 |
|
| 128,353 |
|
| 131,497 |
|
| 55,000 |
|
| 26,256 |
|
| 17,617 |
|
Prepaid expenses and other assets |
|
| 4,448 |
|
| 2,705 |
|
| 7,229 |
|
| 10,747 |
|
| 9,109 |
|
| 26,200 |
|
| 1,583 |
|
|
| |||||||||||||||||||||
Total Assets |
|
| 25,287,583 |
|
| 68,267,277 |
|
| 255,252,357 |
|
| 265,434,760 |
|
| 106,324,593 |
|
| 59,587,701 |
|
| 52,867,744 |
|
|
| |||||||||||||||||||||
LIABILITIES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Payables: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fund shares redeemed |
|
| 71,488 |
|
| 197,408 |
|
| 389,413 |
|
| 381,635 |
|
| 48,983 |
|
| 3,730 |
|
| 13,693 |
|
Securities purchased |
|
| 50,109 |
|
| 93,860 |
|
| — |
|
| 387,844 |
|
| 601,071 |
|
| 299,270 |
|
| — |
|
Due to custodian |
|
| — |
|
| — |
|
| 96,271 |
|
| — |
|
| — |
|
| — |
|
| — |
|
Variation margin |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
| 2,096 |
|
Accrued advisory fees |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
| 40,327 |
|
| 25,599 |
|
Accrued administration fees |
|
| 7,097 |
|
| 19,107 |
|
| 71,518 |
|
| 73,931 |
|
| 29,266 |
|
| 16,605 |
|
| 14,933 |
|
Accrued trustees fees |
|
| 253 |
|
| 633 |
|
| 1,954 |
|
| 1,876 |
|
| 671 |
|
| 552 |
|
| 452 |
|
Accrued deferred trustee compensation |
|
| 1,784 |
|
| 4,288 |
|
| 13,098 |
|
| 12,465 |
|
| 4,963 |
|
| 12,507 |
|
| 3,508 |
|
Accrued distribution and/or service fees |
|
| 1,095 |
|
| 2,623 |
|
| 9,622 |
|
| 10,231 |
|
| 3,737 |
|
| 4,159 |
|
| 3,617 |
|
Accrued transfer agency out-of-pocket expenses |
|
| 6,161 |
|
| 16,142 |
|
| 52,946 |
|
| 53,378 |
|
| 20,010 |
|
| 15,158 |
|
| 12,808 |
|
Accrued other |
|
| 18,364 |
|
| 35,696 |
|
| 101,727 |
|
| 103,451 |
|
| 41,579 |
|
| 47,728 |
|
| 26,419 |
|
|
| |||||||||||||||||||||
Total Liabilities |
|
| 156,351 |
|
| 369,757 |
|
| 736,549 |
|
| 1,024,811 |
|
| 750,280 |
|
| 440,036 |
|
| 103,125 |
|
|
| |||||||||||||||||||||
NET ASSETS |
| $ | 25,131,232 |
| $ | 67,897,520 |
| $ | 254,515,808 |
| $ | 264,409,949 |
| $ | 105,574,313 |
| $ | 59,147,665 |
| $ | 52,764,619 |
|
|
|
|
|
(1) | Includes margin deposits of $79,300 and $85,000 segregated for futures contracts in the PF AllianceBernstein International Value and PF Goldman Sachs Short Duration Bond Funds, respectively. |
| |
(2) | Foreign currency held at cost for the PF AllianceBernstein International Value Fund was $196,683. |
|
|
See Notes to Financial Statements | |
|
|
B-1 |
|
PACIFIC FUNDS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| PF Portfolio |
| PF Portfolio |
| PF Portfolio |
| PF Portfolio |
| PF Portfolio |
| PF |
| PF Goldman |
| |||||||
|
| |||||||||||||||||||||
NET ASSETS CONSIST OF: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Paid-in capital |
| $ | 24,233,832 |
| $ | 63,649,927 |
| $ | 232,742,256 |
| $ | 238,507,587 |
| $ | 93,282,687 |
| $ | 43,601,354 |
| $ | 53,400,361 |
|
Undistributed/accumulated net investment income (loss) |
|
| 288,546 |
|
| 563,387 |
|
| 1,329,651 |
|
| 607,653 |
|
| (25,800 | ) |
| 525,098 |
|
| 6,578 |
|
Undistributed/accumulated net realized gain (loss) |
|
| 19,859 |
|
| 557,140 |
|
| 4,566,752 |
|
| 4,678,997 |
|
| 1,851,531 |
|
| 11,981,649 |
|
| (610,268 | ) |
Net unrealized appreciation (depreciation) on investments and assets and liabilities in foreign currencies |
|
| 588,995 |
|
| 3,127,066 |
|
| 15,877,149 |
|
| 20,615,712 |
|
| 10,465,895 |
|
| 3,039,564 |
|
| (32,052 | ) |
|
| |||||||||||||||||||||
NET ASSETS |
| $ | 25,131,232 |
| $ | 67,897,520 |
| $ | 254,515,808 |
| $ | 264,409,949 |
| $ | 105,574,313 |
| $ | 59,147,665 |
| $ | 52,764,619 |
|
|
| |||||||||||||||||||||
Class A Shares: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Assets |
| $ | 9,995,090 |
| $ | 29,935,395 |
| $ | 112,370,769 |
| $ | 113,723,443 |
| $ | 50,532,051 |
| $ | 56,982,237 |
| $ | 52,376,577 |
|
Shares of beneficial interest outstanding |
|
| 951,213 |
|
| 2,725,126 |
|
| 9,651,382 |
|
| 9,419,916 |
|
| 4,022,228 |
|
| 3,730,303 |
|
| 5,345,583 |
|
Net Asset Value per share* |
| $ | 10.51 |
| $ | 10.98 |
| $ | 11.64 |
| $ | 12.07 |
| $ | 12.56 |
| $ | 15.28 |
| $ | 9.80 |
|
Sales Charge - Maximum is 5.50% of offering price |
|
| 0.61 |
|
| 0.64 |
|
| 0.68 |
|
| 0.70 |
|
| 0.73 |
|
| 0.89 |
|
| 0.57 |
|
|
| |||||||||||||||||||||
Maximum offering price per share |
| $ | 11.12 |
| $ | 11.62 |
| $ | 12.32 |
| $ | 12.77 |
| $ | 13.29 |
| $ | 16.17 |
| $ | 10.37 |
|
|
| |||||||||||||||||||||
Class B Shares: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Assets |
| $ | 2,435,337 |
| $ | 10,036,432 |
| $ | 35,622,220 |
| $ | 43,647,740 |
| $ | 16,734,709 |
| $ | 520,973 |
| $ | 16,882 |
|
Shares of beneficial interest outstanding |
|
| 232,919 |
|
| 918,672 |
|
| 3,076,179 |
|
| 3,638,599 |
|
| 1,340,891 |
|
| 34,745 |
|
| 1,725 |
|
Net Asset Value and offering price per share* |
| $ | 10.46 |
| $ | 10.92 |
| $ | 11.58 |
| $ | 12.00 |
| $ | 12.48 |
| $ | 14.99 |
| $ | 9.79 |
|
|
| |||||||||||||||||||||
Class C Shares: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Assets |
| $ | 12,568,225 |
| $ | 27,137,383 |
| $ | 105,597,705 |
| $ | 106,413,563 |
| $ | 38,266,564 |
| $ | 1,644,455 |
| $ | 371,160 |
|
Shares of beneficial interest outstanding |
|
| 1,203,268 |
|
| 2,483,553 |
|
| 9,128,617 |
|
| 8,887,944 |
|
| 3,067,312 |
|
| 109,845 |
|
| 37,949 |
|
Net Asset Value and offering price per share* |
| $ | 10.45 |
| $ | 10.93 |
| $ | 11.57 |
| $ | 11.97 |
| $ | 12.48 |
| $ | 14.97 |
| $ | 9.78 |
|
|
| |||||||||||||||||||||
Class R Shares:** |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Assets |
| $ | 132,580 |
| $ | 788,310 |
| $ | 925,114 |
| $ | 625,203 |
| $ | 40,989 |
|
|
|
|
|
|
|
Shares of beneficial interest outstanding |
|
| 12,620 |
|
| 71,787 |
|
| 79,529 |
|
| 51,797 |
|
| 3,261 |
|
|
|
|
|
|
|
Net Asset Value per share |
| $ | 10.51 |
| $ | 10.98 |
| $ | 11.63 |
| $ | 12.07 |
| $ | 12.57 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* | Redemption price per share is equal to the Net Asset Value per share less any applicable contingent deferred sales charge. |
| |
** | Class R shares are offered to the PF Portfolio Optimization Models only. |
| |
See Notes to Financial Statements | |
| |
B-2 |
|
PACIFIC FUNDS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| PF Janus |
| PF Lazard |
| PF Loomis |
| PF MFS |
| PF NB |
| PF Oppenheimer |
| PF Oppenheimer |
| |||||||
|
| |||||||||||||||||||||
ASSETS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investments, at cost |
| $ | 42,997,073 |
| $ | 50,949,989 |
| $ | 21,960,474 |
| $ | 45,823,397 |
| $ | 28,254,129 |
| $ | 59,281,280 |
| $ | 35,631,652 |
|
|
| |||||||||||||||||||||
Investments, at value |
| $ | 48,457,675 |
| $ | 54,082,835 |
| $ | 23,378,189 |
| $ | 57,153,195 |
| $ | 29,860,834 |
| $ | 64,128,455 |
| $ | 38,956,231 |
|
Cash |
|
| — |
|
| — |
|
| 463,642 |
|
| — |
|
| 925,167 |
|
| 1,025,717 |
|
| — |
|
Foreign currency held, at value (1) |
|
| — |
|
| — |
|
| — |
|
| 56,680 |
|
| — |
|
| — |
|
| 405,520 |
|
Receivables: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dividends and interest |
|
| 34,810 |
|
| 41,557 |
|
| 17,235 |
|
| 100,515 |
|
| 25,172 |
|
| 79,473 |
|
| 33,981 |
|
Foreign tax reclaim |
|
| 8,845 |
|
| — |
|
| — |
|
| 60,415 |
|
| — |
|
| — |
|
| 138 |
|
Fund shares sold |
|
| 64,559 |
|
| 71,021 |
|
| 41,740 |
|
| 53,261 |
|
| 71,863 |
|
| 153,090 |
|
| 30,153 |
|
Securities sold |
|
| 97,457 |
|
| 239,393 |
|
| 447,372 |
|
| 1,113,600 |
|
| — |
|
| 1,674,875 |
|
| 200,431 |
|
Due from adviser |
|
| 19,022 |
|
| 13,501 |
|
| 14,205 |
|
| 33,130 |
|
| 12,267 |
|
| 24,384 |
|
| 50,546 |
|
Forward foreign currency contracts appreciation |
|
| 4,775 |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
Prepaid expenses and other assets |
|
| 14,046 |
|
| 2,642 |
|
| 12,364 |
|
| 16,723 |
|
| 11,905 |
|
| 1,342 |
|
| 13,200 |
|
|
| |||||||||||||||||||||
Total Assets |
|
| 48,701,189 |
|
| 54,450,949 |
|
| 24,374,747 |
|
| 58,587,519 |
|
| 30,907,208 |
|
| 67,087,336 |
|
| 39,690,200 |
|
|
| |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Payables: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fund shares redeemed |
|
| 5,494 |
|
| 4,287 |
|
| 3,375 |
|
| 2,081 |
|
| 4,387 |
|
| 9,354 |
|
| 1,730 |
|
Securities purchased |
|
| 436,857 |
|
| 287,540 |
|
| 364,570 |
|
| 585,756 |
|
| — |
|
| 2,132,652 |
|
| 873,294 |
|
Accrued advisory fees |
|
| 28,933 |
|
| 36,938 |
|
| 18,084 |
|
| 49,224 |
|
| 30,233 |
|
| 33,458 |
|
| 31,003 |
|
Accrued administration fees |
|
| 13,502 |
|
| 15,210 |
|
| 6,662 |
|
| 16,408 |
|
| 10,582 |
|
| 18,016 |
|
| 10,851 |
|
Accrued trustees fees |
|
| 423 |
|
| 96 |
|
| 217 |
|
| 493 |
|
| 159 |
|
| 465 |
|
| 256 |
|
Accrued foreign capital gains tax |
|
| — |
|
| — |
|
| — |
|
| 3,482 |
|
| — |
|
| — |
|
| 153,127 |
|
Accrued deferred trustee compensation |
|
| 8,677 |
|
| 1,713 |
|
| 18,491 |
|
| 7,553 |
|
| 5,867 |
|
| 1,401 |
|
| 848 |
|
Accrued distribution and/or service fees |
|
| 3,398 |
|
| 3,714 |
|
| 1,732 |
|
| 4,065 |
|
| 2,626 |
|
| 4,414 |
|
| 2,612 |
|
Accrued transfer agency out-of-pocket expenses |
|
| 11,959 |
|
| 6,701 |
|
| 5,678 |
|
| 14,136 |
|
| 6,222 |
|
| 14,367 |
|
| 7,982 |
|
Accrued other (2) |
|
| 29,895 |
|
| 20,376 |
|
| 20,425 |
|
| 85,419 |
|
| 17,508 |
|
| 39,023 |
|
| 302,155 |
|
Forward foreign currency contracts depreciation |
|
| 386 |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
|
| |||||||||||||||||||||
Total Liabilities |
|
| 539,524 |
|
| 376,575 |
|
| 439,234 |
|
| 768,617 |
|
| 77,584 |
|
| 2,253,150 |
|
| 1,383,858 |
|
|
| |||||||||||||||||||||
NET ASSETS |
| $ | 48,161,665 |
| $ | 54,074,374 |
| $ | 23,935,513 |
| $ | 57,818,902 |
| $ | 30,829,624 |
| $ | 64,834,186 |
| $ | 38,306,342 |
|
|
|
|
|
(1) | Foreign currency held at cost for the PF MFS Internatonal Large-Cap and PF Oppenheimer Emerging Markets Funds were $55,175 and $408,127, respectively. |
|
|
(2) | Accrued other includes $292,532 of accrued custodian fees for the PF Oppenheimer Emerging Markets Fund. |
See Notes to Financial Statements
B-3
|
PACIFIC FUNDS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| PF Janus |
| PF Lazard |
| PF Loomis |
| PF MFS |
| PF NB |
| PF Oppenheimer |
| PF Oppenheimer |
| |||||||
|
| |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NET ASSETS CONSIST OF: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Paid-in capital |
| $ | 42,549,516 |
| $ | 50,535,967 |
| $ | 25,018,244 |
| $ | 42,973,161 |
| $ | 30,287,817 |
| $ | 60,431,345 |
| $ | 35,107,629 |
|
Undistributed/accumulated net investment income (loss) |
|
| (149,405 | ) |
| (11,419 | ) |
| (121,726 | ) |
| 1,187,898 |
|
| (123,039 | ) |
| 88,808 |
|
| (7,933 | ) |
Undistributed/accumulated net realized gain (loss) |
|
| 296,445 |
|
| 416,980 |
|
| (2,378,720 | ) |
| 2,330,054 |
|
| (941,859 | ) |
| (533,142 | ) |
| 38,212 |
|
Net unrealized appreciation on investments and assets and liabilities in foreign currencies |
|
| 5,465,109 |
|
| 3,132,846 |
|
| 1,417,715 |
|
| 11,327,789 |
|
| 1,606,705 |
|
| 4,847,175 |
|
| 3,168,434 |
|
|
| |||||||||||||||||||||
NET ASSETS |
| $ | 48,161,665 |
| $ | 54,074,374 |
| $ | 23,935,513 |
| $ | 57,818,902 |
| $ | 30,829,624 |
| $ | 64,834,186 |
| $ | 38,306,342 |
|
|
| |||||||||||||||||||||
Class A Shares: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Assets |
| $ | 46,557,592 |
| $ | 53,837,248 |
| $ | 22,547,853 |
| $ | 56,158,494 |
| $ | 29,916,098 |
| $ | 64,834,186 |
| $ | 38,306,342 |
|
Shares of beneficial interest outstanding |
|
| 3,814,612 |
|
| 5,098,131 |
|
| 2,538,768 |
|
| 3,521,198 |
|
| 2,907,966 |
|
| 5,993,225 |
|
| 3,455,736 |
|
Net Asset Value per share* |
| $ | 12.21 |
| $ | 10.56 |
| $ | 8.88 |
| $ | 15.95 |
| $ | 10.29 |
| $ | 10.82 |
| $ | 11.08 |
|
Sales Charge - Maximum is 5.50% of offering price |
|
| 0.71 |
|
| 0.61 |
|
| 0.52 |
|
| 0.93 |
|
| 0.60 |
|
| — |
|
| — |
|
|
| |||||||||||||||||||||
Maximum offering price per share |
| $ | 12.92 |
| $ | 11.17 |
| $ | 9.40 |
| $ | 16.88 |
| $ | 10.89 |
| $ | 10.82 |
| $ | 11.08 |
|
|
| |||||||||||||||||||||
Class B Shares: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Assets |
| $ | 421,189 |
| $ | 73,775 |
| $ | 489,811 |
| $ | 526,887 |
| $ | 367,938 |
|
|
|
|
|
|
|
Shares of beneficial interest outstanding |
|
| 35,272 |
|
| 7,047 |
|
| 56,645 |
|
| 33,813 |
|
| 36,742 |
|
|
|
|
|
|
|
Net Asset Value and offering price per share* |
| $ | 11.94 |
| $ | 10.47 |
| $ | 8.65 |
| $ | 15.58 |
| $ | 10.01 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||
Class C Shares: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Assets |
| $ | 1,182,884 |
| $ | 163,351 |
| $ | 897,849 |
| $ | 1,133,521 |
| $ | 545,588 |
|
|
|
|
|
|
|
Shares of beneficial interest outstanding |
|
| 99,396 |
|
| 15,614 |
|
| 103,979 |
|
| 72,651 |
|
| 54,405 |
|
|
|
|
|
|
|
Net Asset Value and offering price per share* |
| $ | 11.90 |
| $ | 10.46 |
| $ | 8.63 |
| $ | 15.60 |
| $ | 10.03 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* | Redemption price per share is equal to the Net Asset Value per share less any applicable contingent deferred sales charge. |
|
|
(1) | PF Oppenheimer Main Street Core and PF Oppenheimer Emerging Markets Fund offer Class A shares only and are not subject to a front-end sales load. |
See Notes to Financial Statements
B-4
PACIFIC FUNDS
STATEMENTS OF ASSETS AND LIABILITIES (Continued)
SEPTEMBER 30, 2006 (Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| PF PIMCO |
| PF PIMCO |
| PF Pacific Life |
| PF Salomon |
| PF Van Kampen |
| PF Van Kampen |
| PF Van Kampen |
| |||||||
|
| |||||||||||||||||||||
ASSETS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investments, at cost |
| $ | 113,905,370 |
| $ | 93,909,535 |
| $ | 15,708,597 |
| $ | 38,429,732 |
| $ | 59,097,704 |
| $ | 43,740,863 |
| $ | 18,677,774 |
|
|
| |||||||||||||||||||||
Investments, at value |
| $ | 113,901,361 |
| $ | 93,334,327 |
| $ | 15,708,597 |
| $ | 45,262,234 |
| $ | 65,434,506 |
| $ | 51,106,063 |
| $ | 24,657,153 |
|
Cash |
|
| — |
|
| — |
|
| — |
|
| 1,478,874 |
|
| — |
|
| — |
|
| — |
|
Foreign currency held, at value (1) |
|
| 574,198 |
|
| 84,375 |
|
| — |
|
| — |
|
| — |
|
| — |
|
| 10,601 |
|
Receivables: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dividends and interest |
|
| 265,526 |
|
| 563,200 |
|
| 49,543 |
|
| 64,566 |
|
| 83,293 |
|
| 13,454 |
|
| 74,959 |
|
Foreign tax reclaim |
|
| — |
|
| — |
|
| — |
|
| 555 |
|
| — |
|
| — |
|
| — |
|
Fund shares sold |
|
| 72,305 |
|
| 59,437 |
|
| 59,909 |
|
| 127,441 |
|
| 104,472 |
|
| 160,789 |
|
| 35,636 |
|
Securities sold |
|
| 6,513,273 |
|
| — |
|
| — |
|
| — |
|
| 374,214 |
|
| 171,129 |
|
| — |
|
Securities sold short |
|
| 9,565,150 |
|
| 592,650 |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
Swap agreements |
|
| 233,945 |
|
| 8,684 |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
Variation margin |
|
| 17,801 |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
Due from adviser |
|
| 31,484 |
|
| 25,135 |
|
| 10,676 |
|
| 15,901 |
|
| 23,564 |
|
| 17,536 |
|
| 12,146 |
|
Forward foreign currency contracts appreciation |
|
| 33,320 |
|
| 22,248 |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
Prepaid expenses and other assets |
|
| 15,787 |
|
| 3,673 |
|
| 3,740 |
|
| 13,943 |
|
| 15,037 |
|
| 14,350 |
|
| 2,588 |
|
Swap appreciation |
|
| 328,684 |
|
| 248,341 |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
|
| |||||||||||||||||||||
Total Assets |
|
| 131,552,834 |
|
| 94,942,070 |
|
| 15,832,465 |
|
| 46,963,514 |
|
| 66,035,086 |
|
| 51,483,321 |
|
| 24,793,083 |
|
|
| |||||||||||||||||||||
LIABILITIES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Payables: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fund shares redeemed |
|
| 18,416 |
|
| 235,350 |
|
| 14,979 |
|
| 6,219 |
|
| 24,071 |
|
| 25,219 |
|
| 1,744 |
|
Securities purchased |
|
| 37,214,661 |
|
| 24,890,620 |
|
| 502,995 |
|
| 815,323 |
|
| 1,161,756 |
|
| 18,648 |
|
| 117,037 |
|
Due to custodian |
|
| — |
|
| — |
|
| 1,670 |
|
| — |
|
| — |
|
| — |
|
| — |
|
Securities covering shorts |
|
| 5,418,219 |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
Securities sold short, at value (proceeds $4,138,737 and $582,672, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
respectively) |
|
| 4,133,077 |
|
| 587,086 |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
Swap agreements |
|
| 261,075 |
|
| 68,374 |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
Variation margin |
|
| — |
|
| 1,881 |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
Accrued advisory fees |
|
| 40,499 |
|
| 34,269 |
|
| 5,210 |
|
| 31,117 |
|
| 49,112 |
|
| 36,511 |
|
| 21,816 |
|
Accrued administration fees |
|
| 23,624 |
|
| 19,990 |
|
| 4,559 |
|
| 12,813 |
|
| 18,094 |
|
| 14,199 |
|
| 6,941 |
|
Accrued trustees fees |
|
| 710 |
|
| 712 |
|
| 140 |
|
| 344 |
|
| 638 |
|
| 364 |
|
| 261 |
|
Accrued deferred trustee compensation |
|
| 20,892 |
|
| 8,062 |
|
| 10,592 |
|
| 14,343 |
|
| 8,307 |
|
| 10,053 |
|
| 1,113 |
|
Accrued distribution and/or service fees |
|
| 5,925 |
|
| 5,046 |
|
| 520 |
|
| 3,305 |
|
| 4,528 |
|
| 3,680 |
|
| 1,701 |
|
Accrued transfer agency out-of-pocket expenses |
|
| 20,137 |
|
| 17,802 |
|
| 5,937 |
|
| 10,005 |
|
| 17,356 |
|
| 10,712 |
|
| 6,818 |
|
Accrued other |
|
| 54,281 |
|
| 41,263 |
|
| 8,927 |
|
| 28,456 |
|
| 35,352 |
|
| 30,110 |
|
| 21,557 |
|
Forward foreign currency contracts depreciation |
|
| 72,963 |
|
| 63,305 |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
Outstanding options written, at value (premiums received $255,569,and $38,495, respectively) |
|
| 426,157 |
|
| 52,593 |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
Swap depreciation |
|
| 202,515 |
|
| 139,875 |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
|
| |||||||||||||||||||||
Total Liabilities |
|
| 47,913,151 |
|
| 26,166,228 |
|
| 555,529 |
|
| 921,925 |
|
| 1,319,214 |
|
| 149,496 |
|
| 178,988 |
|
|
| |||||||||||||||||||||
NET ASSETS |
| $ | 83,639,683 |
| $ | 68,775,842 |
| $ | 15,276,936 |
| $ | 46,041,589 |
| $ | 64,715,872 |
| $ | 51,333,825 |
| $ | 24,614,095 |
|
|
|
|
|
(1) | Foreign currency held at cost for the PF PIMCO Managed Bond, PF PIMCO Inflation Managed and PF Van Kampen Real Estate Funds were $577,153, $84,576 and $10,419, respectively. |
See Notes to Financial Statements
B-5
STATEMENTS OF ASSETS AND LIABILITIES (Continued)
SEPTEMBER 30, 2006 (Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| PF PIMCO |
| PF PIMCO |
| PF Pacific Life |
| PF Salomon |
| PF Van Kampen |
| PF Van Kampen |
| PF Van Kampen |
| |||||||
|
| |||||||||||||||||||||
NET ASSETS CONSIST OF: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Paid-in capital |
| $ | 83,428,856 |
| $ | 70,491,668 |
| $ | 15,268,206 |
| $ | 38,608,014 |
| $ | 58,142,097 |
| $ | 43,834,303 |
| $ | 17,172,128 |
|
Undistributed/accumulated net investment income (loss) |
|
| (2,548 | ) |
| 200,717 |
|
| 8,824 |
|
| 48,466 |
|
| 297,823 |
|
| (236,013 | ) |
| 8,620 |
|
Undistributed/accumulated net realized gain (loss) |
|
| (134,075 | ) |
| (1,387,944 | ) |
| (94 | ) |
| 552,600 |
|
| (60,850 | ) |
| 370,335 |
|
| 1,453,786 |
|
Net unrealized appreciation (depreciation) on investments and assets and liabilities in foreign currencies |
|
| 347,450 |
|
| (528,599 | ) |
| — |
|
| 6,832,509 |
|
| 6,336,802 |
|
| 7,365,200 |
|
| 5,979,561 |
|
|
| |||||||||||||||||||||
NET ASSETS |
| $ | 83,639,683 |
| $ | 68,775,842 |
| $ | 15,276,936 |
| $ | 46,041,589 |
| $ | 64,715,872 |
| $ | 51,333,825 |
| $ | 24,614,095 |
|
|
| |||||||||||||||||||||
Class A Shares: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Assets |
| $ | 80,631,847 |
| $ | 63,852,103 |
| $ | 15,276,936 |
| $ | 43,558,727 |
| $ | 63,096,189 |
| $ | 48,465,830 |
| $ | 24,327,223 |
|
Shares of beneficial interest outstanding |
|
| 7,961,182 |
|
| 6,287,297 |
|
| 15,278,790 |
|
| 3,529,413 |
|
| 4,704,249 |
|
| 4,815,127 |
|
| 1,762,987 |
|
Net Asset Value* |
| $ | 10.13 |
| $ | 10.16 |
| $ | 1.00 |
| $ | 12.34 |
| $ | 13.41 |
| $ | 10.07 |
| $ | 13.80 |
|
Sales Charge - Maximum is 5.50% of offering price |
|
| 0.59 |
|
| 0.59 |
|
| — |
|
| 0.72 |
|
| 0.78 |
|
| 0.59 |
|
| 0.80 |
|
|
| |||||||||||||||||||||
Maximum offering price per share |
| $ | 10.72 |
| $ | 10.75 |
| $ | 1.00 |
| $ | 13.06 |
| $ | 14.19 |
| $ | 10.66 |
| $ | 14.60 |
|
|
| |||||||||||||||||||||
Class B Shares: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Assets |
| $ | 925,926 |
| $ | 1,143,087 |
|
|
|
| $ | 650,400 |
| $ | 616,704 |
| $ | 899,755 |
| $ | 119,987 |
|
Shares of beneficial interest outstanding |
|
| 91,607 |
|
| 113,380 |
|
|
|
|
| 53,561 |
|
| 46,707 |
|
| 91,452 |
|
| 8,740 |
|
Net Asset Value and offering price per share* |
| $ | 10.11 |
| $ | 10.08 |
|
|
|
| $ | 12.14 |
| $ | 13.20 |
| $ | 9.84 |
| $ | 13.73 |
|
|
| |||||||||||||||||||||
Class C Shares: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Assets |
| $ | 2,081,910 |
| $ | 3,780,652 |
|
|
|
| $ | 1,832,462 |
| $ | 1,002,979 |
| $ | 1,968,240 |
| $ | 166,885 |
|
Shares of beneficial interest outstanding |
|
| 205,678 |
|
| 374,896 |
|
|
|
|
| 151,338 |
|
| 76,093 |
|
| 200,525 |
|
| 12,167 |
|
Net Asset Value and offering price per share* |
| $ | 10.12 |
| $ | 10.08 |
|
|
|
| $ | 12.11 |
| $ | 13.18 |
| $ | 9.82 |
| $ | 13.72 |
|
|
|
|
|
* | Redemption price per share is equal to the Net Asset Value per share less any applicable contingent deferred sales charge. |
| |
(1) | PF Pacific Life Money Market Fund offers Class A Shares only and is not subject to a front-end sales load. |
See Notes to Financial Statements
B-6
PACIFIC FUNDS
STATEMENTS OF OPERATIONS
FOR THE SIX-MONTH PERIOD ENDED SEPTEMBER 30, 2006 (Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| PF Portfolio |
| PF Portfolio |
| PF Portfolio |
| PF Portfolio |
| PF Portfolio |
| PF |
| PF Goldman |
| |||||||
|
| |||||||||||||||||||||
INVESTMENT INCOME |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dividends, net of foreign taxes withheld (2) |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
| $ | 1,068,678 |
| $ | 75,606 |
|
Dividends from mutual fund investments |
|
| 326,409 |
|
| 657,064 |
|
| 1,659,481 |
|
| 950,985 |
|
| 94,716 |
|
| — |
|
| — |
|
Interest |
|
| 1,307 |
|
| 1,378 |
|
| 6,552 |
|
| 6,678 |
|
| 3,402 |
|
| 24,847 |
|
| 1,054,537 |
|
|
| |||||||||||||||||||||
Total Investment Income |
|
| 327,716 |
|
| 658,442 |
|
| 1,666,033 |
|
| 957,663 |
|
| 98,118 |
|
| 1,093,525 |
|
| 1,130,143 |
|
|
| |||||||||||||||||||||
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Advisory fees |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
| 254,525 |
|
| 147,634 |
|
Administration fees |
|
| 41,780 |
|
| 111,572 |
|
| 404,088 |
|
| 416,817 |
|
| 160,501 |
|
| 104,804 |
|
| 86,120 |
|
Support services expenses |
|
| 10,649 |
|
| 28,380 |
|
| 95,302 |
|
| 95,103 |
|
| 34,982 |
|
| 26,145 |
|
| 21,019 |
|
Custodian fees and expenses |
|
| 16,714 |
|
| 20,469 |
|
| 24,857 |
|
| 24,024 |
|
| 18,909 |
|
| 45,014 |
|
| 9,693 |
|
Shareholder reports |
|
| 3,229 |
|
| 8,415 |
|
| 28,392 |
|
| 28,480 |
|
| 10,712 |
|
| 7,481 |
|
| 6,292 |
|
Distribution and/or service fees |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class A |
|
| 23,673 |
|
| 69,499 |
|
| 252,862 |
|
| 254,501 |
|
| 109,654 |
|
| 144,600 |
|
| 122,020 |
|
Class B |
|
| 9,998 |
|
| 46,271 |
|
| 167,180 |
|
| 195,894 |
|
| 72,982 |
|
| 2,353 |
|
| 92 |
|
Class C |
|
| 57,992 |
|
| 123,843 |
|
| 473,821 |
|
| 484,345 |
|
| 166,143 |
|
| 7,889 |
|
| 1,923 |
|
Class R (3) |
|
| 182 |
|
| 1,332 |
|
| 1,057 |
|
| 831 |
|
| 70 |
|
| — |
|
| — |
|
Transfer agency out-of-pocket expenses |
|
| 8,922 |
|
| 23,224 |
|
| 80,490 |
|
| 80,562 |
|
| 30,541 |
|
| 19,012 |
|
| 15,927 |
|
Registration fees |
|
| 22,591 |
|
| 25,607 |
|
| 32,164 |
|
| 33,378 |
|
| 26,351 |
|
| 16,839 |
|
| 16,867 |
|
Legal and audit fees |
|
| 6,171 |
|
| 15,091 |
|
| 50,297 |
|
| 50,269 |
|
| 18,996 |
|
| 13,393 |
|
| 11,221 |
|
Trustees’ fees and expenses |
|
| 1,643 |
|
| 4,414 |
|
| 14,918 |
|
| 15,168 |
|
| 5,658 |
|
| 3,818 |
|
| 3,169 |
|
Other |
|
| 6,250 |
|
| 11,483 |
|
| 20,744 |
|
| 16,158 |
|
| 7,200 |
|
| 12,126 |
|
| 7,299 |
|
|
| |||||||||||||||||||||
Total Expenses |
|
| 209,794 |
|
| 489,600 |
|
| 1,646,172 |
|
| 1,695,530 |
|
| 662,699 |
|
| 657,999 |
|
| 449,276 |
|
Adviser Expense Reimbursement |
|
| (115,359 | ) |
| (243,852 | ) |
| (747,295 | ) |
| (759,958 | ) |
| (313,849 | ) |
| (121,001 | ) |
| (73,282 | ) |
Distribution and/or Service Fees Waiver |
|
| (57,096 | ) |
| (154,585 | ) |
| (573,312 | ) |
| (595,452 | ) |
| (229,287 | ) |
| — |
|
| — |
|
|
| |||||||||||||||||||||
Net Expenses |
|
| 37,339 |
|
| 91,163 |
|
| 325,565 |
|
| 340,120 |
|
| 119,563 |
|
| 536,998 |
|
| 375,994 |
|
|
| |||||||||||||||||||||
NET INVESTMENT INCOME (LOSS) |
|
| 290,377 |
|
| 567,279 |
|
| 1,340,468 |
|
| 617,543 |
|
| (21,445 | ) |
| 556,527 |
|
| 754,149 |
|
|
| |||||||||||||||||||||
NET REALIZED AND UNREALIZED GAIN (LOSS) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net realized gain (loss) on: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investment security, swap, and forward transactions (2) |
|
| (18,346 | ) |
| (132,198 | ) |
| 219,504 |
|
| (978,125 | ) |
| (165,683 | ) |
| 12,418,770 |
|
| (36,985 | ) |
Futures contracts and written option transactions |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
| 27,896 |
|
| (47,740 | ) |
Foreign currency transactions |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
| (83,432 | ) |
| — |
|
Capital gain distributions from mutual fund investments |
|
| 180,419 |
|
| 874,447 |
|
| 4,496,865 |
|
| 5,720,681 |
|
| 2,189,292 |
|
| — |
|
| — |
|
|
| |||||||||||||||||||||
Net Realized Gain (Loss) |
|
| 162,073 |
|
| 742,249 |
|
| 4,716,369 |
|
| 4,742,556 |
|
| 2,023,609 |
|
| 12,363,234 |
|
| (84,725 | ) |
|
| |||||||||||||||||||||
Net change in unrealized appreciation (depreciation) on: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investment securities, swaps and forwards (2) |
|
| 198,226 |
|
| 328,419 |
|
| (807,999 | ) |
| (813,088 | ) |
| 70,286 |
|
| (10,849,966 | ) |
| 283,000 |
|
Futures contracts and written options |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
| 17,043 |
|
| 18,385 |
|
Foreign currency transactions |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
| 3,881 |
|
| — |
|
|
| |||||||||||||||||||||
Change in Net Unrealized Appreciation (Depreciation) |
|
| 198,226 |
|
| 328,419 |
|
| (807,999 | ) |
| (813,088 | ) |
| 70,286 |
|
| (10,829,042 | ) |
| 301,385 |
|
|
| |||||||||||||||||||||
NET GAIN |
|
| 360,299 |
|
| 1,070,668 |
|
| 3,908,370 |
|
| 3,929,468 |
|
| 2,093,895 |
|
| 1,534,192 |
|
| 216,660 |
|
|
| |||||||||||||||||||||
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS |
| $ | 650,676 |
| $ | 1,637,947 |
| $ | 5,248,838 |
| $ | 4,547,011 |
| $ | 2,072,450 |
| $ | 2,090,719 |
| $ | 970,809 |
|
|
|
|
|
(1) | Formerly named PF Lazard International Value Fund. |
|
|
(2) | Dividends were net of $190,297 foreign taxes withheld for the PF AllianceBernstein International Value Fund. No foreign tax was withheld on realized and change in unrealized capital gains for all these funds. |
|
|
(3) | Class R shares are offered to the PF Portfolio Optimization Models only. |
See Notes to Financial Statements
B-7
|
PACIFIC FUNDS |
STATEMENTS OF OPERATIONS (Continued) |
FOR THE SIX-MONTH PERIOD ENDED SEPTEMBER 30, 2006 (Unaudited) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| PF Janus |
| PF Lazard |
| PF Loomis |
| PF MFS International |
| PF NB |
| PF Oppenheimer |
| PF Oppenheimer |
| |||||||
|
| |||||||||||||||||||||
INVESTMENT INCOME |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dividends, net of foreign taxes withheld (1) |
| $ | 223,789 |
| $ | 281,610 |
| $ | 93,228 |
| $ | 1,755,900 |
| $ | 86,793 |
| $ | 527,743 |
| $ | 471,610 |
|
Interest |
|
| 39,738 |
|
| 5,110 |
|
| 13,929 |
|
| 24,717 |
|
| 71,075 |
|
| 19,049 |
|
| — |
|
|
| |||||||||||||||||||||
Total Investment Income |
|
| 263,527 |
|
| 286,720 |
|
| 107,157 |
|
| 1,780,617 |
|
| 157,868 |
|
| 546,792 |
|
| 471,610 |
|
|
| |||||||||||||||||||||
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Advisory fees |
|
| 174,813 |
|
| 143,009 |
|
| 103,418 |
|
| 298,387 |
|
| 142,300 |
|
| 188,815 |
|
| 174,439 |
|
Administration fees |
|
| 81,579 |
|
| 58,886 |
|
| 38,101 |
|
| 99,462 |
|
| 49,805 |
|
| 101,670 |
|
| 61,054 |
|
Support services expenses |
|
| 19,281 |
|
| 11,087 |
|
| 9,607 |
|
| 23,531 |
|
| 9,311 |
|
| 22,611 |
|
| 12,721 |
|
Custodian fees and expenses |
|
| 23,047 |
|
| 19,530 |
|
| 30,859 |
|
| 92,428 |
|
| 14,428 |
|
| 50,030 |
|
| 317,989 |
|
Shareholder reports |
|
| 5,867 |
|
| 3,315 |
|
| 2,890 |
|
| 6,970 |
|
| 3,060 |
|
| 6,971 |
|
| 3,994 |
|
Distribution and/or service fees |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class A |
|
| 113,060 |
|
| 83,598 |
|
| 50,022 |
|
| 138,397 |
|
| 68,740 |
|
| 145,242 |
|
| 87,219 |
|
Class B |
|
| 2,042 |
|
| 341 |
|
| 2,595 |
|
| 2,408 |
|
| 2,016 |
|
| — |
|
| — |
|
Class C |
|
| 4,921 |
|
| 707 |
|
| 6,221 |
|
| 4,976 |
|
| 2,805 |
|
| — |
|
| — |
|
Transfer agency out-of-pocket expenses |
|
| 15,866 |
|
| 8,204 |
|
| 6,479 |
|
| 18,153 |
|
| 8,364 |
|
| 18,710 |
|
| 10,710 |
|
Registration fees |
|
| 16,636 |
|
| 13,496 |
|
| 17,880 |
|
| 16,962 |
|
| 17,655 |
|
| 381 |
|
| 238 |
|
Legal and audit fees |
|
| 10,303 |
|
| 6,022 |
|
| 5,788 |
|
| 12,357 |
|
| 5,052 |
|
| 12,164 |
|
| 6,991 |
|
Trustees’ fees and expenses |
|
| 3,174 |
|
| 1,573 |
|
| 1,204 |
|
| 3,645 |
|
| 1,681 |
|
| 3,749 |
|
| 2,184 |
|
Offering expenses |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
| 2,804 |
|
| 6,504 |
|
Other |
|
| 7,420 |
|
| 3,695 |
|
| 5,372 |
|
| 10,931 |
|
| 3,659 |
|
| 11,525 |
|
| 21,301 |
|
|
| |||||||||||||||||||||
Total Expenses |
|
| 478,009 |
|
| 353,463 |
|
| 280,436 |
|
| 728,607 |
|
| 328,876 |
|
| 564,672 |
|
| 705,344 |
|
Adviser Expense Reimbursement |
|
| (84,072 | ) |
| (56,616 | ) |
| (72,048 | ) |
| (163,591 | ) |
| (53,516 | ) |
| (107,619 | ) |
| (369,839 | ) |
|
| |||||||||||||||||||||
Net Expenses |
|
| 393,937 |
|
| 296,847 |
|
| 208,388 |
|
| 565,016 |
|
| 275,360 |
|
| 457,053 |
|
| 335,505 |
|
|
| |||||||||||||||||||||
NET INVESTMENT INCOME (LOSS) |
|
| (130,410 | ) |
| (10,127 | ) |
| (101,231 | ) |
| 1,215,601 |
|
| (117,492 | ) |
| 89,739 |
|
| 136,105 |
|
|
| |||||||||||||||||||||
NET REALIZED AND UNREALIZED GAIN (LOSS) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net realized gain (loss) on: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investment security, swap, and forward transactions (1) |
|
| 613,887 |
|
| 576,551 |
|
| (1,926,442 | ) |
| 2,683,603 |
|
| (933,675 | ) |
| (391,211 | ) |
| 264,105 |
|
Foreign currency transactions |
|
| (15,913 | ) |
| — |
|
| — |
|
| (22,407 | ) |
| — |
|
| (191 | ) |
| (81,688 | ) |
|
| |||||||||||||||||||||
Net Realized Gain (Loss) |
|
| 597,974 |
|
| 576,551 |
|
| (1,926,442 | ) |
| 2,661,196 |
|
| (933,675 | ) |
| (391,402 | ) |
| 182,417 |
|
|
| |||||||||||||||||||||
Net change in unrealized appreciation (depreciation) on: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investment securities, swaps and forwards (1). |
|
| (571,455 | ) |
| 1,482,241 |
|
| 5,801 |
|
| (305,907 | ) |
| (783,009 | ) |
| 1,838,347 |
|
| (1,298,311 | ) |
Foreign currency transactions |
|
| 2,324 |
|
| — |
|
| — |
|
| (73 | ) |
| — |
|
| — |
|
| (2,928 | ) |
|
| |||||||||||||||||||||
Change in Net Unrealized Appreciation (Depreciation) |
|
| (569,131 | ) |
| 1,482,241 |
|
| 5,801 |
|
| (305,980 | ) |
| (783,009 | ) |
| 1,838,347 |
|
| (1,301,239 | ) |
|
| |||||||||||||||||||||
NET GAIN (LOSS) |
|
| 28,843 |
|
| 2,058,792 |
|
| (1,920,641 | ) |
| 2,355,216 |
|
| (1,716,684 | ) |
| 1,446,945 |
|
| (1,118,822 | ) |
|
| |||||||||||||||||||||
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS |
|
| ($101,567 | ) | $ | 2,048,665 |
|
| ($2,021,872 | ) | $ | 3,570,817 |
|
| ($1,834,176 | ) | $ | 1,536,684 |
|
| ($982,717 | ) |
|
|
|
|
(1) | Dividends were net of $5,317, $0, $0, $120,237, $794, $52, and $57,906 foreign taxes withheld, respectively. Realized gains on investment security transactions for the PF MFS International Large-Cap and PF Oppenheimer Emerging Markets Funds are net of foreign capital gains tax withheld of $126 and $19,332, respectively. Change in net unrealized depreciation on securities for the PF MFS International Large-Cap and PF Oppenheimer Emerging Markets Funds are net of decrease in deferred foreign capital gains tax of $3,482 and $153,127, respectively. |
See Notes to Financial Statements
B-8
|
PACIFIC FUNDS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| PF PIMCO |
| PF PIMCO |
| PF Pacific Life |
| PF Salomon |
| PF Van Kampen |
| PF Van Kampen |
| PF Van Kampen |
| |||||||
|
| |||||||||||||||||||||
INVESTMENT INCOME |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dividends, net of foreign taxes |
| $ | 68,343 |
| $ | 22,115 |
| $ | 137 |
| $ | 411,636 |
| $ | 805,733 |
| $ | 158,421 |
| $ | 276,942 |
|
Interest |
|
| 1,797,315 |
|
| 2,144,599 |
|
| 555,948 |
|
| 10,995 |
|
| 122,655 |
|
| 31,070 |
|
| — |
|
|
| |||||||||||||||||||||
Total Investment Income |
|
| 1,865,658 |
|
| 2,166,714 |
|
| 556,085 |
|
| 422,631 |
|
| 928,388 |
|
| 189,491 |
|
| 276,942 |
|
|
| |||||||||||||||||||||
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Advisory fees |
|
| 231,812 |
|
| 203,677 |
|
| 43,888 |
|
| 169,915 |
|
| 313,298 |
|
| 201,505 |
|
| 135,789 |
|
Administration fees |
|
| 135,224 |
|
| 118,811 |
|
| 38,402 |
|
| 69,965 |
|
| 115,426 |
|
| 78,363 |
|
| 43,205 |
|
Support services expenses |
|
| 32,652 |
|
| 29,979 |
|
| 9,384 |
|
| 16,982 |
|
| 27,770 |
|
| 17,686 |
|
| 10,802 |
|
Custodian fees and expenses |
|
| 25,256 |
|
| 24,652 |
|
| 15,442 |
|
| 16,854 |
|
| 20,642 |
|
| 21,378 |
|
| 17,623 |
|
Shareholder reports |
|
| 9,862 |
|
| 9,094 |
|
| 2,805 |
|
| 5,015 |
|
| 8,501 |
|
| 5,355 |
|
| 3,315 |
|
Distribution and/or service fees |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class A |
|
| 185,724 |
|
| 156,700 |
|
| 27,430 |
|
| 94,301 |
|
| 161,082 |
|
| 104,142 |
|
| 61,100 |
|
Class B |
|
| 4,722 |
|
| 6,502 |
|
| — |
|
| 2,981 |
|
| 2,840 |
|
| 4,509 |
|
| 518 |
|
Class C |
|
| 10,184 |
|
| 19,560 |
|
| — |
|
| 8,318 |
|
| 4,784 |
|
| 11,101 |
|
| 727 |
|
Transfer agency out-of-pocket expenses |
|
| 26,121 |
|
| 24,512 |
|
| 7,011 |
|
| 12,476 |
|
| 23,213 |
|
| 14,043 |
|
| 8,495 |
|
Registration fees |
|
| 16,964 |
|
| 15,714 |
|
| 15,048 |
|
| 17,111 |
|
| 17,121 |
|
| 16,718 |
|
| 13,338 |
|
Legal and audit fees |
|
| 17,438 |
|
| 16,098 |
|
| 5,440 |
|
| 8,138 |
|
| 14,832 |
|
| 9,610 |
|
| 5,852 |
|
Trustees’ fees and expenses |
|
| 5,096 |
|
| 4,921 |
|
| 1,272 |
|
| 2,405 |
|
| 4,592 |
|
| 2,781 |
|
| 1,602 |
|
Other |
|
| 32,834 |
|
| 11,975 |
|
| 2,704 |
|
| 6,397 |
|
| 6,826 |
|
| 4,676 |
|
| 3,735 |
|
|
| |||||||||||||||||||||
Total Expenses |
|
| 733,889 |
|
| 642,195 |
|
| 168,826 |
|
| 430,858 |
|
| 720,927 |
|
| 491,867 |
|
| 306,101 |
|
Adviser Expense Reimbursement |
|
| (137,713 | ) |
| (111,566 | ) |
| (50,087 | ) |
| (70,879 | ) |
| (98,274 | ) |
| (75,942 | ) |
| (55,392 | ) |
|
| |||||||||||||||||||||
Net Expenses |
|
| 596,176 |
|
| 530,629 |
|
| 118,739 |
|
| 359,979 |
|
| 622,653 |
|
| 415,925 |
|
| 250,709 |
|
|
| |||||||||||||||||||||
NET INVESTMENT INCOME (LOSS) |
|
| 1,269,482 |
|
| 1,636,085 |
|
| 437,346 |
|
| 62,652 |
|
| 305,735 |
|
| (226,434 | ) |
| 26,233 |
|
|
| |||||||||||||||||||||
NET REALIZED AND UNREALIZED GAIN (LOSS) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net realized gain (loss) on: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investment security, swap, and forward transactions (1) |
|
| (217,040 | ) |
| (568,845 | ) |
| (70 | ) |
| 844,239 |
|
| 36,650 |
|
| 498,531 |
|
| 1,458,144 |
|
Closed short positions |
|
| 8,090 |
|
| (2,157 | ) |
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
Futures contracts and written option transactions |
|
| 49,740 |
|
| (36,015 | ) |
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
Foreign currency transactions |
|
| 124,733 |
|
| 155,097 |
|
| — |
|
| (50 | ) |
| — |
|
| — |
|
| 2 |
|
|
| |||||||||||||||||||||
Net Realized Gain (Loss) |
|
| (34,477 | ) |
| (451,920 | ) |
| (70 | ) |
| 844,189 |
|
| 36,650 |
|
| 498,531 |
|
| 1,458,146 |
|
|
| |||||||||||||||||||||
Net change in unrealized appreciation (depreciation) on: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investment securities, swaps and forwards (1) |
|
| 1,026,724 |
|
| 1,129,747 |
|
| — |
|
| 848,022 |
|
| 3,256,222 |
|
| (3,479,321 | ) |
| 359,250 |
|
Short positions |
|
| (1,299 | ) |
| (6,959 | ) |
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
Futures contracts and written options |
|
| 344,806 |
|
| (18,998 | ) |
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
Foreign currency transactions |
|
| (4,133 | ) |
| (260 | ) |
| — |
|
| 25 |
|
| — |
|
| — |
|
| 182 |
|
|
| |||||||||||||||||||||
Change in Net Unrealized Appreciation (Depreciation) |
|
| 1,366,098 |
|
| 1,103,530 |
|
| — |
|
| 848,047 |
|
| 3,256,222 |
|
| (3,479,321 | ) |
| 359,432 |
|
|
| |||||||||||||||||||||
NET GAIN (LOSS) |
|
| 1,331,621 |
|
| 651,610 |
|
| (70 | ) |
| 1,692,236 |
|
| 3,292,872 |
|
| (2,980,790 | ) |
| 1,817,578 |
|
|
| |||||||||||||||||||||
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS |
| $ | 2,601,103 |
| $ | 2,287,695 |
| $ | 437,276 |
| $ | 1,754,888 |
| $ | 3,598,607 |
|
| ($3,207,224 | ) | $ | 1,843,811 |
|
|
|
|
|
(1) | Dividends were net of $0, $0, $0, $6,357, $11,761, $1,152, and $3,626 foreign taxes withheld, respectively. No foreign capital gains tax was withheld on realized and change in unrealized capital gains for all of these funds. |
|
|
See Notes to Financial Statements | |
|
|
B-9 |
|
PACIFIC FUNDS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| PF Portfolio Optimization |
| PF Portfolio Optimization |
| PF Portfolio Optimization |
| ||||||||||||
|
| ||||||||||||||||||
|
| Six-Month |
| Year Ended |
| Six-Month |
| Year Ended |
| Six-Month |
| Year Ended |
| ||||||
|
| ||||||||||||||||||
OPERATIONS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net investment income |
| $ | 290,377 |
| $ | 421,503 |
| $ | 567,279 |
| $ | 784,165 |
| $ | 1,340,468 |
| $ | 1,771,031 |
|
Net realized gain |
|
| 162,073 |
|
| 129,138 |
|
| 742,249 |
|
| 907,490 |
|
| 4,716,369 |
|
| 3,590,598 |
|
Net change in unrealized appreciation (depreciation) |
|
| 198,226 |
|
| 294,717 |
|
| 328,419 |
|
| 1,981,397 |
|
| (807,999 | ) |
| 13,286,192 |
|
|
| ||||||||||||||||||
Net Increase in Net Assets Resulting from Operations |
|
| 650,676 |
|
| 845,358 |
|
| 1,637,947 |
|
| 3,673,052 |
|
| 5,248,838 |
|
| 18,647,821 |
|
|
| ||||||||||||||||||
DISTRIBUTIONS TO SHAREHOLDERS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net investment income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class A |
|
| (33,767 | ) |
| (207,109 | ) |
| (64,441 | ) |
| (462,976 | ) |
| (122,944 | ) |
| (1,155,068 | ) |
Class B |
|
| (4,060 | ) |
| (32,392 | ) |
| (10,325 | ) |
| (116,283 | ) |
| (3,915 | ) |
| (299,092 | ) |
Class C |
|
| (27,113 | ) |
| (183,732 | ) |
| (29,424 | ) |
| (285,513 | ) |
| (11,969 | ) |
| (822,892 | ) |
Class R (2) |
|
| (447 | ) |
| (203 | ) |
| (1,726 | ) |
| (162 | ) |
| (709 | ) |
| (139 | ) |
Net realized gains |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class A |
|
| (71,915 | ) |
| (29,914 | ) |
| (368,062 | ) |
| (36,613 | ) |
| (1,269,084 | ) |
| (206,873 | ) |
Class B |
|
| (13,874 | ) |
| (5,137 | ) |
| (121,716 | ) |
| (12,228 | ) |
| (424,462 | ) |
| (74,990 | ) |
Class C |
|
| (87,280 | ) |
| (28,115 | ) |
| (328,813 | ) |
| (30,034 | ) |
| (1,189,051 | ) |
| (200,137 | ) |
Class R (2) |
|
| (937 | ) |
| (5 | ) |
| (9,749 | ) |
| (11 | ) |
| (7,253 | ) |
| (11 | ) |
|
| ||||||||||||||||||
Net Decrease in Net Assets Resulting from Dividends and Distributions to Shareholders |
|
| (239,393 | ) |
| (486,607 | ) |
| (934,256 | ) |
| (943,820 | ) |
| (3,029,387 | ) |
| (2,759,202 | ) |
|
| ||||||||||||||||||
CAPITAL SHARE TRANSACTIONS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Proceeds from sale of shares |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class A |
|
| 4,473,737 |
|
| 9,088,361 |
|
| 6,721,715 |
|
| 17,240,990 |
|
| 28,737,347 |
|
| 47,999,401 |
|
Class B |
|
| 1,060,264 |
|
| 992,649 |
|
| 1,426,887 |
|
| 3,829,034 |
|
| 6,540,038 |
|
| 13,368,094 |
|
Class C |
|
| 2,955,460 |
|
| 8,687,538 |
|
| 5,661,562 |
|
| 13,244,683 |
|
| 23,889,798 |
|
| 39,321,633 |
|
Class R (2) |
|
| 117,534 |
|
| 10,021 |
|
| 595,794 |
|
| 307,636 |
|
| 874,641 |
|
| 12,244 |
|
Dividends and distribution reinvestments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class A |
|
| 93,990 |
|
| 219,456 |
|
| 402,437 |
|
| 454,795 |
|
| 1,292,250 |
|
| 1,252,677 |
|
Class B |
|
| 17,472 |
|
| 37,529 |
|
| 118,688 |
|
| 116,412 |
|
| 402,429 |
|
| 353,682 |
|
Class C |
|
| 105,751 |
|
| 200,788 |
|
| 330,248 |
|
| 302,221 |
|
| 1,133,139 |
|
| 980,599 |
|
Class R (2) |
|
| 1,384 |
|
| 208 |
|
| 11,475 |
|
| 173 |
|
| 7,253 |
|
| 150 |
|
Cost of shares repurchased |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class A |
|
| (4,628,031 | ) |
| (7,855,627 | ) |
| (5,798,966 | ) |
| (10,348,146 | ) |
| (13,767,506 | ) |
| (14,827,844 | ) |
Class B |
|
| (605,548 | ) |
| (583,459 | ) |
| (660,788 | ) |
| (1,992,856 | ) |
| (3,280,382 | ) |
| (3,877,077 | ) |
Class C |
|
| (2,034,449 | ) |
| (6,613,432 | ) |
| (2,987,648 | ) |
| (6,097,870 | ) |
| (9,083,475 | ) |
| (10,626,292 | ) |
Class R (2) |
|
| (122 | ) |
| (11 | ) |
| (127,267 | ) |
| (24,020 | ) |
| (1,735 | ) |
| (3 | ) |
|
| ||||||||||||||||||
Net Increase in Net Assets from Capital Share Transactions |
|
| 1,557,442 |
|
| 4,184,021 |
|
| 5,694,137 |
|
| 17,033,052 |
|
| 36,743,797 |
|
| 73,957,264 |
|
|
| ||||||||||||||||||
NET INCREASE IN NET ASSETS |
|
| 1,968,725 |
|
| 4,542,772 |
|
| 6,397,828 |
|
| 19,762,284 |
|
| 38,963,248 |
|
| 89,845,883 |
|
|
| ||||||||||||||||||
NET ASSETS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Beginning of Year or Period |
|
| 23,162,507 |
|
| 18,619,735 |
|
| 61,499,692 |
|
| 41,737,408 |
|
| 215,552,560 |
|
| 125,706,677 |
|
|
| ||||||||||||||||||
End of Year or Period |
| $ | 25,131,232 |
| $ | 23,162,507 |
| $ | 67,897,520 |
| $ | 61,499,692 |
| $ | 254,515,808 |
| $ | 215,552,560 |
|
|
| ||||||||||||||||||
Undistributed Net Investment Income |
| $ | 288,546 |
| $ | 63,556 |
| $ | 563,387 |
| $ | 102,024 |
| $ | 1,329,651 |
| $ | 128,720 |
|
|
|
|
|
(1) | Unaudited. |
|
|
(2) | Class R shares commenced operations on September 30, 2005 and are offered to the PF Portfolio Optimization Models only. |
| |
See Notes to Financial Statements | |
|
|
B-10 |
PACIFIC FUNDS
STATEMENTS OF CHANGES IN NET ASSETS (Continued)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| PF Portfolio Optimization |
| PF Portfolio Optimization |
| PF AllianceBernstein |
| ||||||||||||
|
| ||||||||||||||||||
|
| Six-Month |
| Year Ended |
| Six-Month |
| Year Ended |
| Six-Month |
| Year Ended |
| ||||||
|
| ||||||||||||||||||
OPERATIONS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net investment income (loss) |
| $ | 617,543 |
| $ | 894,350 |
|
| ($21,445 | ) | $ | 91,212 |
| $ | 556,527 |
| $ | 541,002 |
|
Net realized gain |
|
| 4,742,556 |
|
| 4,145,865 |
|
| 2,023,609 |
|
| 2,221,777 |
|
| 12,363,234 |
|
| 2,431,990 |
|
Net change in unrealized appreciation (depreciation) |
|
| (813,088 | ) |
| 17,473,101 |
|
| 70,286 |
|
| 8,340,124 |
|
| (10,829,042 | ) |
| 6,061,794 |
|
|
| ||||||||||||||||||
Net Increase in Net Assets Resulting from Operations |
|
| 4,547,011 |
|
| 22,513,316 |
|
| 2,072,450 |
|
| 10,653,113 |
|
| 2,090,719 |
|
| 9,034,786 |
|
|
| ||||||||||||||||||
DISTRIBUTIONS TO SHAREHOLDERS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net investment income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class A |
|
| — |
|
| (873,900 | ) |
| (3,156 | ) |
| (297,790 | ) |
| (147,732 | ) |
| (285,630 | ) |
Class B |
|
| — |
|
| (251,905 | ) |
| — |
|
| (62,760 | ) |
| (731 | ) |
| (389 | ) |
Class C |
|
| — |
|
| (654,629 | ) |
| — |
|
| (157,638 | ) |
| (2,085 | ) |
| (2,236 | ) |
Class R (3) |
|
| — |
|
| (118 | ) |
| (3 | ) |
| (95 | ) |
| — |
|
| — |
|
Net realized gains |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class A |
|
| (1,301,234 | ) |
| (276,939 | ) |
| (858,307 | ) |
| (125,833 | ) |
| (1,942,134 | ) |
| (610,482 | ) |
Class B |
|
| (505,986 | ) |
| (114,447 | ) |
| (286,046 | ) |
| (38,611 | ) |
| (15,658 | ) |
| (4,582 | ) |
Class C |
|
| (1,251,411 | ) |
| (291,154 | ) |
| (636,243 | ) |
| (107,188 | ) |
| (52,493 | ) |
| (17,324 | ) |
Class R (3) |
|
| (7,495 | ) |
| (13 | ) |
| (767 | ) |
| (12 | ) |
| — |
|
| — |
|
|
| ||||||||||||||||||
Net Decrease in Net Assets Resulting from Dividends and Distributions to Shareholders |
|
| (3,066,126 | ) |
| (2,463,105 | ) |
| (1,784,522 | ) |
| (789,927 | ) |
| (2,160,833 | ) |
| (920,643 | ) |
|
| ||||||||||||||||||
CAPITAL SHARE TRANSACTIONS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Proceeds from sale of shares |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class A |
|
| 29,618,793 |
|
| 49,232,539 |
|
| 14,235,959 |
|
| 20,370,094 |
|
| 5,750,946 |
|
| 26,179,615 |
|
Class B |
|
| 10,627,451 |
|
| 15,372,124 |
|
| 4,070,358 |
|
| 6,897,377 |
|
| 92,972 |
|
| 126,806 |
|
Class C |
|
| 23,144,543 |
|
| 40,732,993 |
|
| 10,048,288 |
|
| 19,453,506 |
|
| 248,167 |
|
| 463,143 |
|
Class R (3) |
|
| 589,643 |
|
| 10,663 |
|
| 27,850 |
|
| 10,011 |
|
| — |
|
| — |
|
Dividends and distribution reinvestments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class A |
|
| 1,226,552 |
|
| 1,084,413 |
|
| 831,542 |
|
| 414,265 |
|
| 2,078,183 |
|
| 892,078 |
|
Class B |
|
| 488,606 |
|
| 353,194 |
|
| 274,347 |
|
| 96,251 |
|
| 15,913 |
|
| 4,799 |
|
Class C |
|
| 1,212,684 |
|
| 914,490 |
|
| 619,809 |
|
| 258,489 |
|
| 53,491 |
|
| 19,292 |
|
Class R (3) |
|
| 7,495 |
|
| 131 |
|
| 770 |
|
| 107 |
|
| — |
|
| — |
|
Cost of shares repurchased |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class A |
|
| (11,396,047 | ) |
| (9,067,393 | ) |
| (4,116,612 | ) |
| (4,358,584 | ) |
| (8,444,116 | ) |
| (28,067,047 | ) |
Class B |
|
| (2,838,109 | ) |
| (2,843,443 | ) |
| (524,366 | ) |
| (1,643,463 | ) |
| (14,230 | ) |
| (208,681 | ) |
Class C |
|
| (8,710,197 | ) |
| (7,969,861 | ) |
| (3,260,828 | ) |
| (10,144,931 | ) |
| (195,871 | ) |
| (353,815 | ) |
Class R (3) |
|
| (11,285 | ) |
| (1 | ) |
| (42 | ) |
| — |
|
| — |
|
| — |
|
|
| ||||||||||||||||||
Net Increase (Decrease) in Net Assets from Capital Share Transactions |
|
| 43,960,129 |
|
| 87,819,849 |
|
| 22,207,075 |
|
| 31,353,122 |
|
| (414,545 | ) |
| (943,810 | ) |
|
| ||||||||||||||||||
NET INCREASE (DECREASE) IN NET ASSETS |
|
| 45,441,014 |
|
| 107,870,060 |
|
| 22,495,003 |
|
| 41,216,308 |
|
| (484,659 | ) |
| 7,170,333 |
|
|
| ||||||||||||||||||
NET ASSETS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Beginning of Year or Period |
|
| 218,968,935 |
|
| 111,098,875 |
|
| 83,079,310 |
|
| 41,863,002 |
|
| 59,632,324 |
|
| 52,461,991 |
|
|
| ||||||||||||||||||
End of Year or Period |
| $ | 264,409,949 |
| $ | 218,968,935 |
| $ | 105,574,313 |
| $ | 83,079,310 |
| $ | 59,147,665 |
| $ | 59,632,324 |
|
|
| ||||||||||||||||||
Undistributed/Accumulated Net Investment Income (Loss) |
| $ | 607,653 |
|
| ($9,890 | ) |
| ($25,800 | ) |
| ($1,196 | ) | $ | 525,098 |
| $ | 119,119 |
|
|
|
|
|
(1) | Formerly named the PF Lazard International Value Fund. |
|
|
(2) | Unaudited. |
|
|
(3) | Class R shares commenced operations on September 30, 2005 and are offered to the PF Portfolio Optimization Models only. |
|
|
See Notes to Financial Statements |
B-11
PACIFIC FUNDS
STATEMENTS OF CHANGES IN NET ASSETS (Continued)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| PF Goldman Sachs |
| PF Janus |
| PF Lazard |
| ||||||||||||
|
| ||||||||||||||||||
|
| Six-Month |
| Year Ended |
| Six-Month |
| Year Ended |
| Six-Month |
| Year Ended |
| ||||||
|
| ||||||||||||||||||
OPERATIONS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net investment income (loss) |
| $ | 754,149 |
| $ | 783,522 |
|
| ($130,410 | ) |
| ($142,199 | ) |
| ($10,127 | ) |
| ($44,010 | ) |
Net realized gain (loss) |
|
| (84,725 | ) |
| (369,967 | ) |
| 597,974 |
|
| 1,295,843 |
|
| 576,551 |
|
| 1,693,598 |
|
Net change in unrealized appreciation (depreciation) |
|
| 301,385 |
|
| (53,666 | ) |
| (569,131 | ) |
| 3,259,706 |
|
| 1,482,241 |
|
| 1,698,565 |
|
|
| ||||||||||||||||||
Net Increase (Decrease) in Net Assets Resulting from Operations |
|
| 970,809 |
|
| 359,889 |
|
| (101,567 | ) |
| 4,413,350 |
|
| 2,048,665 |
|
| 3,348,153 |
|
|
| ||||||||||||||||||
DISTRIBUTIONS TO SHAREHOLDERS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net investment income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class A |
|
| (740,816 | ) |
| (781,958 | ) |
| — |
|
| — |
|
| — |
|
| (19,869 | ) |
Class B |
|
| (220 | ) |
| (413 | ) |
| — |
|
| — |
|
| — |
|
| — |
|
Class C |
|
| (4,570 | ) |
| (8,887 | ) |
| — |
|
| — |
|
| — |
|
| (59 | ) |
Net realized gains |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class A |
|
| — |
|
| — |
|
| — |
|
| — |
|
| (691,386 | ) |
| (1,230,191 | ) |
Class B |
|
| — |
|
| — |
|
| — |
|
| — |
|
| (1,798 | ) |
| (2,960 | ) |
Class C |
|
| — |
|
| — |
|
| — |
|
| — |
|
| (3,884 | ) |
| (7,028 | ) |
|
| ||||||||||||||||||
Net Decrease in Net Assets Resulting from Dividends and Distributions to Shareholders |
|
| (745,606 | ) |
| (791,258 | ) |
| — |
|
| — |
|
| (697,068 | ) |
| (1,260,107 | ) |
|
| ||||||||||||||||||
CAPITAL SHARE TRANSACTIONS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Proceeds from sale of shares |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class A |
|
| 11,846,756 |
|
| 23,164,325 |
|
| 9,058,622 |
|
| 27,671,881 |
|
| 28,440,878 |
|
| 11,590,066 |
|
Class B |
|
| 261 |
|
| 32,356 |
|
| 16,051 |
|
| 73,432 |
|
| 9,721 |
|
| 38,014 |
|
Class C |
|
| 249,760 |
|
| 397,990 |
|
| 423,438 |
|
| 1,182,947 |
|
| 54,786 |
|
| 147,705 |
|
Dividends and distribution reinvestments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class A |
|
| 740,816 |
|
| 781,958 |
|
| — |
|
| — |
|
| 690,342 |
|
| 1,247,915 |
|
Class B |
|
| 159 |
|
| 357 |
|
| — |
|
| — |
|
| 1,770 |
|
| 2,960 |
|
Class C |
|
| 4,539 |
|
| 7,879 |
|
| — |
|
| — |
|
| 3,458 |
|
| 6,862 |
|
Cost of shares repurchased |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class A |
|
| (5,381,118 | ) |
| (13,908,845 | ) |
| (6,129,195 | ) |
| (7,770,226 | ) |
| (636,812 | ) |
| (16,380,349 | ) |
Class B |
|
| (4,069 | ) |
| (24,781 | ) |
| (5,293 | ) |
| (89,586 | ) |
| (1,417 | ) |
| (12,791 | ) |
Class C |
|
| (471,400 | ) |
| (391,123 | ) |
| (138,147 | ) |
| (873,683 | ) |
| (23,039 | ) |
| (106,119 | ) |
|
| ||||||||||||||||||
Net Increase (Decrease) in Net Assets from Capital Share Transactions |
|
| 6,985,704 |
|
| 10,060,116 |
|
| 3,225,476 |
|
| 20,194,765 |
|
| 28,539,687 |
|
| (3,465,737 | ) |
|
| ||||||||||||||||||
NET INCREASE (DECREASE) IN NET ASSETS |
|
| 7,210,907 |
|
| 9,628,747 |
|
| 3,123,909 |
|
| 24,608,115 |
|
| 29,891,284 |
|
| (1,377,691 | ) |
|
| ||||||||||||||||||
NET ASSETS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Beginning of Year or Period |
|
| 45,553,712 |
|
| 35,924,965 |
|
| 45,037,756 |
|
| 20,429,641 |
|
| 24,183,090 |
|
| 25,560,781 |
|
|
| ||||||||||||||||||
End of Year or Period |
| $ | 52,764,619 |
| $ | 45,553,712 |
| $ | 48,161,665 |
| $ | 45,037,756 |
| $ | 54,074,374 |
| $ | 24,183,090 |
|
|
| ||||||||||||||||||
Undistributed/Accumulated Net Investment Income (Loss) |
| $ | 6,578 |
|
| ($1,965 | ) |
| ($149,405 | ) |
| ($18,995 | ) |
| ($11,419 | ) |
| ($1,292 | ) |
|
|
|
|
(1) | Unaudited. |
|
|
See Notes to Financial Statements |
B-12
PACIFIC FUNDS
STATEMENTS OF CHANGES IN NET ASSETS (Continued)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| PF Loomis Sayles |
| PF MFS |
| PF NB Fasciano |
| ||||||||||||
|
| ||||||||||||||||||
|
| Six-Month |
| Year Ended |
| Six-Month |
| Year Ended |
| Six-Month |
| Year Ended |
| ||||||
|
| ||||||||||||||||||
OPERATIONS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net investment income (loss) |
|
| ($101,231 | ) |
| ($232,085 | ) | $ | 1,215,601 |
|
| ($16,605 | ) | $ | (117,492 | ) |
| ($137,205 | ) |
Net realized gain (loss) |
|
| (1,926,442 | ) |
| 4,784,811 |
|
| 2,661,196 |
|
| 2,573,549 |
|
| (933,675 | ) |
| 683,647 |
|
Net change in unrealized appreciation (depreciation) |
|
| 5,801 |
|
| (1,484,020 | ) |
| (305,980 | ) |
| 7,196,893 |
|
| (783,009 | ) |
| 2,034,957 |
|
|
| ||||||||||||||||||
Net Increase (Decrease) in Net Assets Resulting from Operations |
|
| (2,021,872 | ) |
| 3,068,706 |
|
| 3,570,817 |
|
| 9,753,837 |
|
| (1,834,176 | ) |
| 2,581,399 |
|
|
| ||||||||||||||||||
DISTRIBUTIONS TO SHAREHOLDERS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net investment income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class A |
|
| — |
|
| — |
|
| — |
|
| (119,809 | ) |
| — |
|
| — |
|
Class B |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
Class C |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
Net realized gains |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class A |
|
| (1,924,708 | ) |
| — |
|
| (1,741,094 | ) |
| (728,896 | ) |
| (25,606 | ) |
| (1,597,397 | ) |
Class B |
|
| (52,141 | ) |
| — |
|
| (14,722 | ) |
| (6,357 | ) |
| (444 | ) |
| (53,879 | ) |
Class C |
|
| (112,916 | ) |
| — |
|
| (30,813 | ) |
| (12,331 | ) |
| (614 | ) |
| (104,373 | ) |
|
| ||||||||||||||||||
Net Decrease in Net Assets Resulting from Dividends and Distributions to Shareholders |
|
| (2,089,765 | ) |
| — |
|
| (1,786,629 | ) |
| (867,393 | ) |
| (26,664 | ) |
| (1,755,649 | ) |
|
| ||||||||||||||||||
CAPITAL SHARE TRANSACTIONS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Proceeds from sale of shares |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class A |
|
| 8,424,703 |
|
| 11,125,992 |
|
| 6,387,929 |
|
| 20,720,796 |
|
| 14,461,464 |
|
| 15,136,648 |
|
Class B |
|
| 12,417 |
|
| 128,630 |
|
| 97,669 |
|
| 109,987 |
|
| 15,812 |
|
| 125,718 |
|
Class C |
|
| 135,950 |
|
| 465,243 |
|
| 382,356 |
|
| 360,946 |
|
| 141,453 |
|
| 86,036 |
|
Dividends and distribution reinvestments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class A |
|
| 1,919,527 |
|
| — |
|
| 1,733,833 |
|
| 844,826 |
|
| 25,560 |
|
| 1,575,875 |
|
Class B |
|
| 49,085 |
|
| — |
|
| 14,698 |
|
| 6,152 |
|
| 444 |
|
| 53,879 |
|
Class C |
|
| 105,747 |
|
| — |
|
| 29,925 |
|
| 12,147 |
|
| 614 |
|
| 103,005 |
|
Cost of shares repurchased |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class A |
|
| (3,456,132 | ) |
| (39,854,311 | ) |
| (6,440,005 | ) |
| (15,710,900 | ) |
| (7,016,063 | ) |
| (472,672 | ) |
Class B |
|
| (53,050 | ) |
| (96,115 | ) |
| (33,696 | ) |
| (141,072 | ) |
| (35,939 | ) |
| (32,500 | ) |
Class C |
|
| (705,086 | ) |
| (264,451 | ) |
| (199,482 | ) |
| (206,799 | ) |
| (84,217 | ) |
| (204,552 | ) |
|
| ||||||||||||||||||
Net Increase (Decrease) in Net Assets from Capital Share Transactions |
|
| 6,433,161 |
|
| (28,495,012 | ) |
| 1,973,227 |
|
| 5,996,083 |
|
| 7,509,128 |
|
| 16,371,437 |
|
|
| ||||||||||||||||||
NET INCREASE (DECREASE) IN NET ASSETS |
|
| 2,321,524 |
|
| (25,426,306 | ) |
| 3,757,415 |
|
| 14,882,527 |
|
| 5,648,288 |
|
| 17,197,187 |
|
|
| ||||||||||||||||||
NET ASSETS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Beginning of Year or Period |
|
| 21,613,989 |
|
| 47,040,295 |
|
| 54,061,487 |
|
| 39,178,960 |
|
| 25,181,336 |
|
| 7,984,149 |
|
|
| ||||||||||||||||||
End of Year or Period |
| $ | 23,935,513 |
| $ | 21,613,989 |
| $ | 57,818,902 |
| $ | 54,061,487 |
| $ | 30,829,624 |
| $ | 25,181,336 |
|
|
| ||||||||||||||||||
Undistributed/Accumulated Net Investment Income (Loss) |
|
| ($121,726 | ) |
| ($20,495 | ) | $ | 1,187,898 |
|
| ($27,703 | ) |
| ($123,039 | ) |
| ($5,547 | ) |
|
|
|
|
(1) | Formerly named PF AIM Blue Chip Fund. |
|
|
(2) | Formerly named PF AIM Aggressive Growth Fund. |
|
|
(3) | Unaudited. |
See Notes to Financial Statements
B-13
PACIFIC FUNDS
STATEMENTS OF CHANGES IN NET ASSETS (Continued)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| PF Oppenheimer |
| PF Oppenheimer |
| PF PIMCO |
| ||||||||||||
|
| ||||||||||||||||||
|
| Six-Month |
| Period Ended |
| Six-Month |
| Period Ended |
| Six-Month |
| Year Ended |
| ||||||
|
| ||||||||||||||||||
OPERATIONS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net investment income |
| $ | 89,739 |
| $ | 59,313 |
| $ | 136,105 |
| $ | 235,494 |
| $ | 1,269,482 |
| $ | 1,644,794 |
|
Net realized gain (loss) |
|
| (391,402 | ) |
| 388,155 |
|
| 182,417 |
|
| 1,056,151 |
|
| (34,477 | ) |
| 84,018 |
|
Net change in unrealized appreciation (depreciation) |
|
| 1,838,347 |
|
| 3,008,828 |
|
| (1,301,239 | ) |
| 4,469,673 |
|
| 1,366,098 |
|
| (764,445 | ) |
|
| ||||||||||||||||||
Net Increase (Decrease) in Net Assets Resulting from Operations |
|
| 1,536,684 |
|
| 3,456,296 |
|
| (982,717 | ) |
| 5,761,318 |
|
| 2,601,103 |
|
| 964,367 |
|
|
| ||||||||||||||||||
DISTRIBUTIONS TO SHAREHOLDERS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net investment income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class A |
|
| (25,093 | ) |
| (74,605 | ) |
| (148,762 | ) |
| (230,044 | ) |
| (1,352,901 | ) |
| (1,513,717 | ) |
Class B |
|
| — |
|
| — |
|
| — |
|
| — |
|
| (14,321 | ) |
| (24,396 | ) |
Class C |
|
| — |
|
| — |
|
| — |
|
| — |
|
| (31,658 | ) |
| (47,907 | ) |
Net realized gains |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class A |
|
| (529,693 | ) |
| — |
|
| (1,224,807 | ) |
| (774 | ) |
| — |
|
| — |
|
Class B |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
Class C |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
|
| ||||||||||||||||||
Net Decrease in Net Assets Resulting from Dividends and Distributions to Shareholders |
|
| (554,786 | ) |
| (74,605 | ) |
| (1,373,569 | ) |
| (230,818 | ) |
| (1,398,880 | ) |
| (1,586,020 | ) |
|
| ||||||||||||||||||
CAPITAL SHARE TRANSACTIONS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Proceeds from sale of shares |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class A |
|
| 12,841,227 |
|
| 60,118,138 |
|
| 6,256,305 |
|
| 27,749,239 |
|
| 15,584,665 |
|
| 34,290,082 |
|
Class B |
|
| — |
|
| — |
|
| — |
|
| — |
|
| 19,496 |
|
| 116,710 |
|
Class C |
|
| — |
|
| — |
|
| — |
|
| — |
|
| 270,652 |
|
| 1,016,757 |
|
Dividends and distribution reinvestments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class A |
|
| 554,786 |
|
| 74,605 |
|
| 1,373,569 |
|
| 230,818 |
|
| 1,334,764 |
|
| 1,481,604 |
|
Class B |
|
| — |
|
| — |
|
| — |
|
| — |
|
| 13,461 |
|
| 22,656 |
|
Class C |
|
| — |
|
| — |
|
| — |
|
| — |
|
| 29,523 |
|
| 44,749 |
|
Cost of shares repurchased |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class A |
|
| (3,473,440 | ) |
| (9,644,719 | ) |
| (443,011 | ) |
| (34,792 | ) |
| (6,273,966 | ) |
| (8,879,511 | ) |
Class B |
|
| — |
|
| — |
|
| — |
|
| — |
|
| (169,321 | ) |
| (220,199 | ) |
Class C |
|
| — |
|
| — |
|
| — |
|
| — |
|
| (328,440 | ) |
| (1,328,603 | ) |
|
| ||||||||||||||||||
Net Increase in Net Assets from Capital Share Transactions |
|
| 9,922,573 |
|
| 50,548,024 |
|
| 7,186,863 |
|
| 27,945,265 |
|
| 10,480,834 |
|
| 26,544,245 |
|
|
| ||||||||||||||||||
NET INCREASE IN NET ASSETS |
|
| 10,904,471 |
|
| 53,929,715 |
|
| 4,830,577 |
|
| 33,475,765 |
|
| 11,683,057 |
|
| 25,922,592 |
|
|
| ||||||||||||||||||
NET ASSETS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Beginning of Year or Period |
|
| 53,929,715 |
|
| — |
|
| 33,475,765 |
|
| — |
|
| 71,956,626 |
|
| 46,034,034 |
|
|
| ||||||||||||||||||
End of Year or Period |
| $ | 64,834,186 |
| $ | 53,929,715 |
| $ | 38,306,342 |
| $ | 33,475,765 |
| $ | 83,639,683 |
| $ | 71,956,626 |
|
|
| ||||||||||||||||||
Undistributed/Accumulated Net Investment Income (Loss) |
| $ | 88,808 |
| $ | 24,162 |
| $ | (7,933 | ) | $ | 4,724 |
| $ | (2,548 | ) | $ | 126,850 |
|
|
|
|
|
(1) | Unaudited. |
|
|
(2) | Operations commenced on September 30, 2005. |
See Notes to Financial Statements
B-14
PACIFIC FUNDS
STATEMENTS OF CHANGES IN NET ASSETS (Continued)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| PF PIMCO |
| PF Pacific Life |
| PF Salomon Brothers |
| ||||||||||||
|
| ||||||||||||||||||
|
| Six-Month |
| Year Ended |
| Six-Month |
| Year Ended |
| Six-Month |
| Year Ended |
| ||||||
|
| ||||||||||||||||||
OPERATIONS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net investment income |
| $ | 1,636,085 |
| $ | 1,846,530 |
| $ | 437,346 |
| $ | 600,514 |
| $ | 62,652 |
| $ | 87,415 |
|
Net realized gain (loss) |
|
| (451,920 | ) |
| (436,425 | ) |
| (70 | ) |
| (24 | ) |
| 844,189 |
|
| 3,080,071 |
|
Net change in unrealized appreciation (depreciation) |
|
| 1,103,530 |
|
| (2,116,449 | ) |
| — |
|
| — |
|
| 848,047 |
|
| 2,107,493 |
|
|
| ||||||||||||||||||
Net Increase (Decrease) in Net Assets Resulting from Operations |
|
| 2,287,695 |
|
| (706,344 | ) |
| 437,276 |
|
| 600,490 |
|
| 1,754,888 |
|
| 5,274,979 |
|
|
| ||||||||||||||||||
DISTRIBUTIONS TO SHAREHOLDERS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net investment income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class A |
|
| (1,221,053 | ) |
| (2,386,687 | ) |
| (437,346 | ) |
| (585,460 | ) |
| (2,599 | ) |
| (100,824 | ) |
Class B |
|
| (21,485 | ) |
| (60,677 | ) |
| — |
|
| (4,201 | ) |
| — |
|
| (785 | ) |
Class C |
|
| (64,455 | ) |
| (194,195 | ) |
| — |
|
| (10,853 | ) |
| — |
|
| (1,683 | ) |
Net realized gains |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class A |
|
| — |
|
| (34,299 | ) |
| — |
|
| — |
|
| (2,356,311 | ) |
| (8,349 | ) |
Class B |
|
| — |
|
| (1,006 | ) |
| — |
|
| — |
|
| (37,297 | ) |
| (152 | ) |
Class C |
|
| — |
|
| (3,722 | ) |
| — |
|
| — |
|
| (115,276 | ) |
| (442 | ) |
|
| ||||||||||||||||||
Net Decrease in Net Assets Resulting from Dividends and Distributions to Shareholders |
|
| (1,306,993 | ) |
| (2,680,586 | ) |
| (437,346 | ) |
| (600,514 | ) |
| (2,511,483 | ) |
| (112,235 | ) |
|
| ||||||||||||||||||
CAPITAL SHARE TRANSACTIONS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Proceeds from sale of shares |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class A |
|
| 10,891,271 |
|
| 42,314,028 |
|
| 29,642,076 |
|
| 26,799,152 |
|
| 8,818,307 |
|
| 20,423,579 |
|
Class B |
|
| 37,438 |
|
| 476,346 |
|
| — |
|
| 189,675 |
|
| 67,397 |
|
| 100,259 |
|
Class C |
|
| 329,576 |
|
| 1,610,629 |
|
| — |
|
| 2,003,182 |
|
| 418,436 |
|
| 213,292 |
|
Dividends and distribution reinvestments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class A |
|
| 1,184,925 |
|
| 2,398,557 |
|
| 409,402 |
|
| 578,993 |
|
| 2,344,265 |
|
| 108,484 |
|
Class B |
|
| 18,693 |
|
| 55,805 |
|
| — |
|
| 4,086 |
|
| 37,151 |
|
| 914 |
|
Class C |
|
| 55,338 |
|
| 178,232 |
|
| — |
|
| 9,277 |
|
| 112,366 |
|
| 2,121 |
|
Cost of shares repurchased |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class A |
|
| (15,233,300 | ) |
| (11,985,770 | ) |
| (34,067,257 | ) |
| (30,426,529 | ) |
| (1,366,203 | ) |
| (41,430,393 | ) |
Class B |
|
| (334,472 | ) |
| (250,024 | ) |
| — |
|
| (866,017 | ) |
| (13,298 | ) |
| (91,489 | ) |
Class C |
|
| (801,415 | ) |
| (3,110,695 | ) |
| — |
|
| (5,270,328 | ) |
| (251,712 | ) |
| (330,609 | ) |
|
| ||||||||||||||||||
Net Increase (Decrease) in Net Assets from Capital Share Transactions |
|
| (3,851,946 | ) |
| 31,687,108 |
|
| (4,015,779 | ) |
| (6,978,509 | ) |
| 10,166,709 |
|
| (21,003,842 | ) |
|
| ||||||||||||||||||
NET INCREASE (DECREASE) IN NET ASSETS |
|
| (2,871,244 | ) |
| 28,300,178 |
|
| (4,015,849 | ) |
| (6,978,533 | ) |
| 9,410,114 |
|
| (15,841,098 | ) |
|
| ||||||||||||||||||
NET ASSETS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Beginning of Year or Period |
|
| 71,647,086 |
|
| 43,346,908 |
|
| 19,292,785 |
|
| 26,271,318 |
|
| 36,631,475 |
|
| 52,472,573 |
|
|
| ||||||||||||||||||
End of Year or Period |
| $ | 68,775,842 |
| $ | 71,647,086 |
| $ | 15,276,936 |
| $ | 19,292,785 |
| $ | 46,041,589 |
| $ | 36,631,475 |
|
|
| ||||||||||||||||||
Undistributed/Accumulated Net Investment Income (Loss) |
| $ | 200,717 |
|
| ($128,375 | ) | $ | 8,824 |
| $ | 8,824 |
| $ | 48,466 |
|
| ($11,587 | ) |
|
|
|
|
(1) | Class B and Class C shares of the PF Pacific Life Money Market Fund were converted to Class A shares on June 29, 2005. In connection with the conversion in the PF Pacific Life Money Market Fund from Class B and Class C to Class A, 783,748 shares (valued at $783,748) from Class B and 1,237,985 shares (valued at $1,237,985) from Class C were converted for 2,021,733 shares (valued at $2,021,733) of Class A. |
|
|
(2) | Unaudited. |
See Notes to Financial Statements
B-15
PACIFIC FUNDS
STATEMENTS OF CHANGES IN NET ASSETS (Continued)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| PF Van Kampen |
| PF Van Kampen |
| PF Van Kampen |
| ||||||||||||
|
| ||||||||||||||||||
|
| Six-Month |
| Year Ended |
| Six-Month |
| Year Ended |
| Six-Month |
| Year Ended |
| ||||||
|
| ||||||||||||||||||
OPERATIONS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net investment income (loss) |
| $ | 305,735 |
| $ | 309,235 |
|
| ($226,434 | ) |
| ($409,551 | ) | $ | 26,233 |
| $ | 78,401 |
|
Net realized gain |
|
| 36,650 |
|
| 2,065,613 |
|
| 498,531 |
|
| 5,888,062 |
|
| 1,458,146 |
|
| 546,563 |
|
Net change in unrealized appreciation (depreciation) |
|
| 3,256,222 |
|
| 990,914 |
|
| (3,479,321 | ) |
| 4,863,715 |
|
| 359,432 |
|
| 5,965,227 |
|
|
| ||||||||||||||||||
Net Increase (Decrease) in Net Assets Resulting from Operations |
|
| 3,598,607 |
|
| 3,365,762 |
|
| (3,207,224 | ) |
| 10,342,226 |
|
| 1,843,811 |
|
| 6,590,191 |
|
|
| ||||||||||||||||||
DISTRIBUTIONS TO SHAREHOLDERS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net investment income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class A |
|
| (119,018 | ) |
| (226,345 | ) |
| — |
|
| — |
|
| — |
|
| (306,317 | ) |
Class B |
|
| (380 | ) |
| — |
|
| — |
|
| — |
|
| — |
|
| (867 | ) |
Class C |
|
| (564 | ) |
| (657 | ) |
| — |
|
| — |
|
| — |
|
| (1,019 | ) |
Net realized gains |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class A |
|
| (1,213,428 | ) |
| (1,586,586 | ) |
| (2,698,286 | ) |
| — |
|
| (267,825 | ) |
| (150,900 | ) |
Class B |
|
| (10,407 | ) |
| (18,421 | ) |
| (61,388 | ) |
| — |
|
| (997 | ) |
| (572 | ) |
Class C |
|
| (18,076 | ) |
| (41,338 | ) |
| (152,622 | ) |
| — |
|
| (1,347 | ) |
| (689 | ) |
|
| ||||||||||||||||||
Net Decrease in Net Assets Resulting from Dividends and Distributions to Shareholders |
|
| (1,361,873 | ) |
| (1,873,347 | ) |
| (2,912,296 | ) |
| — |
|
| (270,169 | ) |
| (460,364 | ) |
|
| ||||||||||||||||||
CAPITAL SHARE TRANSACTIONS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Proceeds from sale of shares |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class A |
|
| 8,663,996 |
|
| 45,688,937 |
|
| 12,834,104 |
|
| 9,529,295 |
|
| 3,566,268 |
|
| 5,480,368 |
|
Class B |
|
| 81,146 |
|
| 155,448 |
|
| 84,133 |
|
| 203,351 |
|
| 38,132 |
|
| 101,896 |
|
Class C |
|
| 231,981 |
|
| 504,360 |
|
| 243,440 |
|
| 852,727 |
|
| 117,895 |
|
| 82,175 |
|
Dividends and distribution reinvestments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class A |
|
| 1,331,464 |
|
| 1,810,860 |
|
| 2,688,625 |
|
| — |
|
| 267,721 |
|
| 457,217 |
|
Class B |
|
| 10,900 |
|
| 18,405 |
|
| 52,658 |
|
| — |
|
| 997 |
|
| 1,439 |
|
Class C |
|
| 17,853 |
|
| 40,989 |
|
| 145,699 |
|
| — |
|
| 1,310 |
|
| 1,663 |
|
Cost of shares repurchased |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class A |
|
| (11,529,313 | ) |
| (9,526,495 | ) |
| (1,407,813 | ) |
| (16,057,697 | ) |
| (6,617,341 | ) |
| (330,501 | ) |
Class B |
|
| (27,943 | ) |
| (45,760 | ) |
| (48,303 | ) |
| (129,615 | ) |
| (22,724 | ) |
| (40,824 | ) |
Class C |
|
| (218,306 | ) |
| (498,721 | ) |
| (526,296 | ) |
| (338,536 | ) |
| (74,894 | ) |
| (23,090 | ) |
|
| ||||||||||||||||||
Net Increase (Decrease) in Net Assets from Capital Share Transactions |
|
| (1,438,222 | ) |
| 38,148,023 |
|
| 14,066,247 |
|
| (5,940,475 | ) |
| (2,722,636 | ) |
| 5,730,343 |
|
|
| ||||||||||||||||||
NET INCREASE (DECREASE) IN NET ASSETS |
|
| 798,512 |
|
| 39,640,438 |
|
| 7,946,727 |
|
| 4,401,751 |
|
| (1,148,994 | ) |
| 11,860,170 |
|
|
| ||||||||||||||||||
NET ASSETS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Beginning of Year or Period |
|
| 63,917,360 |
|
| 24,276,922 |
|
| 43,387,098 |
|
| 38,985,347 |
|
| 25,763,089 |
|
| 13,902,919 |
|
|
| ||||||||||||||||||
End of Year or Period |
| $ | 64,715,872 |
| $ | 63,917,360 |
| $ | 51,333,825 |
| $ | 43,387,098 |
| $ | 24,614,095 |
| $ | 25,763,089 |
|
|
| ||||||||||||||||||
Undistributed/Accumulated Net Investment Income (Loss) |
| $ | 297,823 |
| $ | 112,050 |
|
| ($236,013 | ) |
| ($9,579 | ) | $ | 8,620 |
|
| ($17,613 | ) |
|
|
|
|
(1) | Unaudited. |
See Notes to Financial Statements
B-16
|
PACIFIC FUNDS |
Selected per share, ratios and supplemental data for each year or period ended were as follows: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment Activities |
| |||||||||||
|
|
|
|
|
|
|
|
|
| ||||||||||
|
|
|
| Net Asset |
| Net |
| Net |
| Total |
| ||||||||
PF Portfolio Optimization Model A |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||
Class A: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| $ | 10.34 |
|
| $ | 0.14 |
|
| $ | 0.15 |
|
| $ | 0.29 |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| 10.18 |
|
|
| 0.22 |
|
|
| 0.20 |
|
|
| 0.42 |
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| 10.15 |
|
|
| 0.13 |
|
|
| 0.05 |
|
|
| 0.18 |
|
|
|
| 12/31/2003 - 3/31/2004 (4) |
|
| 10.00 |
|
|
| 0.02 |
|
|
| 0.13 |
|
|
| 0.15 |
|
|
Class B: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| $ | 10.30 |
|
| $ | 0.11 |
|
| $ | 0.15 |
|
| $ | 0.26 |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| 10.14 |
|
|
| 0.17 |
|
|
| 0.20 |
|
|
| 0.37 |
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| 10.14 |
|
|
| 0.08 |
|
|
| 0.04 |
|
|
| 0.12 |
|
|
|
| 12/31/2003 - 3/31/2004 (4) |
|
| 10.00 |
|
|
| — | (6) |
|
| 0.14 |
|
|
| 0.14 |
|
|
Class C: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| $ | 10.29 |
|
| $ | 0.11 |
|
| $ | 0.15 |
|
| $ | 0.26 |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| 10.13 |
|
|
| 0.17 |
|
|
| 0.20 |
|
|
| 0.37 |
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| 10.13 |
|
|
| 0.08 |
|
|
| 0.04 |
|
|
| 0.12 |
|
|
|
| 12/31/2003 - 3/31/2004 (4) |
|
| 10.00 |
|
|
| — | (6) |
|
| 0.13 |
|
|
| 0.13 |
|
|
Class R: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| $ | 10.33 |
|
| $ | 0.14 |
|
| $ | 0.16 |
|
| $ | 0.30 |
|
|
|
| 9/30/2005 - 3/31/2006 (4) |
|
| 10.35 |
|
|
| 0.11 |
|
|
| 0.09 |
|
|
| 0.20 |
|
|
PF Portfolio Optimization Model B |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||
Class A: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| $ | 10.87 |
|
| $ | 0.11 |
|
| $ | 0.16 |
|
| $ | 0.27 |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| 10.33 |
|
|
| 0.18 |
|
|
| 0.57 |
|
|
| 0.75 |
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| 10.14 |
|
|
| 0.11 |
|
|
| 0.22 |
|
|
| 0.33 |
|
|
|
| 12/31/2003 - 3/31/2004 (4) |
|
| 10.00 |
|
|
| 0.01 |
|
|
| 0.13 |
|
|
| 0.14 |
|
|
Class B: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| $ | 10.82 |
|
| $ | 0.08 |
|
| $ | 0.17 |
|
| $ | 0.25 |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| 10.29 |
|
|
| 0.13 |
|
|
| 0.56 |
|
|
| 0.69 |
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| 10.13 |
|
|
| 0.06 |
|
|
| 0.21 |
|
|
| 0.27 |
|
|
|
| 12/31/2003 - 3/31/2004 (4) |
|
| 10.00 |
|
|
| — | (6) |
|
| 0.13 |
|
|
| 0.13 |
|
|
Class C: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| $ | 10.83 |
|
| $ | 0.08 |
|
| $ | 0.17 |
|
| $ | 0.25 |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| 10.29 |
|
|
| 0.13 |
|
|
| 0.57 |
|
|
| 0.70 |
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| 10.13 |
|
|
| 0.06 |
|
|
| 0.21 |
|
|
| 0.27 |
|
|
|
| 12/31/2003 - 3/31/2004 (4) |
|
| 10.00 |
|
|
| — | (6) |
|
| 0.13 |
|
|
| 0.13 |
|
|
Class R: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| $ | 10.87 |
|
| $ | 0.11 |
|
| $ | 0.16 |
|
| $ | 0.27 |
|
|
|
| 9/30/2005 - 3/31/2006 (4) |
|
| 10.67 |
|
|
| 0.09 |
|
|
| 0.29 |
|
|
| 0.38 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Distributions |
|
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| |||||||||||
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|
| ||||
|
|
|
| Dividends |
| Distributions |
| Total |
| Net Asset |
| ||||||||
PF Portfolio Optimization Model A |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||
Class A: |
| 4/1/2006 - 9/30/2006 (4),(5) |
|
| ($0.04 | ) |
|
| ($0.08 | ) |
|
| ($0.12 | ) |
| $ | 10.51 |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| (0.23 | ) |
|
| (0.03 | ) |
|
| (0.26 | ) |
|
| 10.34 |
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| (0.13 | ) |
|
| (0.02 | ) |
|
| (0.15 | ) |
|
| 10.18 |
|
|
|
| 12/31/2003 - 3/31/2004 (4) |
|
| — |
|
|
| — |
|
|
| — |
|
|
| 10.15 |
|
|
Class B: |
| 4/1/2006 - 9/30/2006 (4),(5) |
|
| ($0.02 | ) |
|
| ($0.08 | ) |
|
| ($0.10 | ) |
| $ | 10.46 |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| (0.18 | ) |
|
| (0.03 | ) |
|
| (0.21 | ) |
|
| 10.30 |
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| (0.10 | ) |
|
| (0.02 | ) |
|
| (0.12 | ) |
|
| 10.14 |
|
|
|
| 12/31/2003 - 3/31/2004 (4) |
|
| — |
|
|
| — |
|
|
| — |
|
|
| 10.14 |
|
|
Class C: |
| 4/1/2006 - 9/30/2006 (4),(5) |
|
| ($0.02 | ) |
|
| ($0.08 | ) |
|
| ($0.10 | ) |
| $ | 10.45 |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| (0.18 | ) |
|
| (0.03 | ) |
|
| (0.21 | ) |
|
| 10.29 |
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| (0.10 | ) |
|
| (0.02 | ) |
|
| (0.12 | ) |
|
| 10.13 |
|
|
|
| 12/31/2003 - 3/31/2004 (4) |
|
| — |
|
|
| — |
|
|
| — |
|
|
| 10.13 |
|
|
Class R: |
| 4/1/2006 - 9/30/2006 (4),(5) |
|
| ($0.04 | ) |
|
| ($0.08 | ) |
|
| ($0.12 | ) |
| $ | 10.51 |
|
|
|
| 9/30/2005 - 3/31/2006 (4) |
|
| (0.21 | ) |
|
| (0.01 | ) |
|
| (0.22 | ) |
|
| 10.33 |
|
|
PF Portfolio Optimization Model B |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||
Class A: |
| 4/1/2006 - 9/30/2006 (4),(5) |
|
| ($0.02 | ) |
|
| ($0.14 | ) |
|
| ($0.16 | ) |
| $ | 10.98 |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| (0.19 | ) |
|
| (0.02 | ) |
|
| (0.21 | ) |
|
| 10.87 |
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| (0.12 | ) |
|
| (0.02 | ) |
|
| (0.14 | ) |
|
| 10.33 |
|
|
|
| 12/31/2003 - 3/31/2004 (4) |
|
| — |
|
|
| — |
|
|
| — |
|
|
| 10.14 |
|
|
Class B: |
| 4/1/2006 - 9/30/2006 (4),(5) |
|
| ($0.01 | ) |
|
| ($0.14 | ) |
|
| ($0.15 | ) |
| $ | 10.92 |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| (0.14 | ) |
|
| (0.02 | ) |
|
| (0.16 | ) |
|
| 10.82 |
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| (0.09 | ) |
|
| (0.02 | ) |
|
| (0.11 | ) |
|
| 10.29 |
|
|
|
| 12/31/2003 - 3/31/2004 (4) |
|
| — |
|
|
| — |
|
|
| — |
|
|
| 10.13 |
|
|
Class C: |
| 4/1/2006 - 9/30/2006 (4),(5) |
|
| ($0.01 | ) |
|
| ($0.14 | ) |
|
| ($0.15 | ) |
| $ | 10.93 |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| (0.14 | ) |
|
| (0.02 | ) |
|
| (0.16 | ) |
|
| 10.83 |
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| (0.09 | ) |
|
| (0.02 | ) |
|
| (0.11 | ) |
|
| 10.29 |
|
|
|
| 12/31/2003 - 3/31/2004 (4) |
|
| — |
|
|
| — |
|
|
| — |
|
|
| 10.13 |
|
|
Class R: |
| 4/1/2006 - 9/30/2006 (4),(5) |
|
| ($0.02 | ) |
|
| ($0.14 | ) |
|
| ($0.16 | ) |
| $ | 10.98 |
|
|
|
| 9/30/2005 - 3/31/2006 (4) |
|
| (0.17 | ) |
|
| (0.01 | ) |
|
| (0.18 | ) |
|
| 10.87 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Ratios/Supplemental Data |
| |||||||||||||||||
|
|
|
|
|
| |||||||||||||||||
|
|
|
| Total |
| Net Assets, |
| Ratios of |
| Ratios of |
| Ratios of Net |
| Portfolio |
| |||||||
PF Portfolio Optimization Model A |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||
Class A: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| 2.76 | % |
| $ | 9,995 |
|
| 0.02 | % |
| 1.47 | % |
| 2.72 | % |
| 24.58 | % |
|
|
| 4/1/2005 - 3/31/2006 (4) |
| 4.12 | % |
|
| 9,887 |
|
| 0.03 | % |
| 1.57 | % |
| 2.17 | % |
| 66.26 | % |
|
|
| 4/1/2004 - 3/31/2005 (4) |
| 1.74 | % |
|
| 8,262 |
|
| 0.00 | % |
| 2.35 | % |
| 1.29 | % |
| 20.21 | % |
|
|
| 12/31/2003 - 3/31/2004 (4) |
| 1.50 | % |
|
| 1,957 |
|
| 0.00 | % |
| 4.50 | % |
| 0.61 | % |
| 9.38 | % |
|
Class B: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| 2.53 | % |
| $ | 2,435 |
|
| 0.52 | % |
| 1.97 | % |
| 2.22 | % |
| 24.58 | % |
|
|
| 4/1/2005 - 3/31/2006 (4) |
| 3.56 | % |
|
| 1,923 |
|
| 0.53 | % |
| 2.07 | % |
| 1.67 | % |
| 66.26 | % |
|
|
| 4/1/2004 - 3/31/2005 (4) |
| 1.25 | % |
|
| 1,450 |
|
| 0.50 | % |
| 2.85 | % |
| 0.79 | % |
| 20.21 | % |
|
|
| 12/31/2003 - 3/31/2004 (4) |
| 1.40 | % |
|
| 449 |
|
| 0.50 | % |
| 5.00 | % |
| 0.11 | % |
| 9.38 | % |
|
Class C: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| 2.55 | % |
| $ | 12,568 |
|
| 0.52 | % |
| 1.97 | % |
| 2.22 | % |
| 24.58 | % |
|
|
| 4/1/2005 - 3/31/2006 (4) |
| 3.65 | % |
|
| 11,342 |
|
| 0.53 | % |
| 2.07 | % |
| 1.67 | % |
| 66.26 | % |
|
|
| 4/1/2004 - 3/31/2005 (4) |
| 1.18 | % |
|
| 8,908 |
|
| 0.50 | % |
| 2.85 | % |
| 0.79 | % |
| 20.21 | % |
|
|
| 12/31/2003 - 3/31/2004 (4) |
| 1.30 | % |
|
| 3,739 |
|
| 0.50 | % |
| 5.00 | % |
| 0.11 | % |
| 9.38 | % |
|
Class R: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| 2.86 | % |
| $ | 133 |
|
| 0.02 | % |
| 1.47 | % |
| 2.72 | % |
| 24.58 | % |
|
|
| 9/30/2005 - 3/31/2006 (4) |
| 1.90 | % |
|
| 10 |
|
| 0.03 | % |
| 1.57 | % |
| 2.17 | % |
| 66.26 | % |
|
PF Portfolio Optimization Model B |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||
Class A: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| 2.57 | % |
| $ | 29,935 |
|
| 0.02 | % |
| 1.26 | % |
| 2.05 | % |
| 12.20 | % |
|
|
| 4/1/2005 - 3/31/2006 (4) |
| 7.23 | % |
|
| 28,292 |
|
| 0.02 | % |
| 1.32 | % |
| 1.72 | % |
| 37.91 | % |
|
|
| 4/1/2004 - 3/31/2005 (4) |
| 3.28 | % |
|
| 19,664 |
|
| 0.00 | % |
| 1.74 | % |
| 1.05 | % |
| 7.82 | % |
|
|
| 12/31/2003 - 3/31/2004 (4) |
| 1.40 | % |
|
| 5,197 |
|
| 0.00 | % |
| 2.86 | % |
| 0.46 | % |
| 2.81 | % |
|
Class B: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| 2.37 | % |
| $ | 10,036 |
|
| 0.52 | % |
| 1.76 | % |
| 1.55 | % |
| 12.20 | % |
|
|
| 4/1/2005 - 3/31/2006 (4) |
| 6.70 | % |
|
| 9,058 |
|
| 0.52 | % |
| 1.82 | % |
| 1.22 | % |
| 37.91 | % |
|
|
| 4/1/2004 - 3/31/2005 (4) |
| 2.69 | % |
|
| 6,699 |
|
| 0.50 | % |
| 2.24 | % |
| 0.55 | % |
| 7.82 | % |
|
|
| 12/31/2003 - 3/31/2004 (4) |
| 1.30 | % |
|
| 3,013 |
|
| 0.50 | % |
| 3.36 | % |
| (0.04 | %) |
| 2.81 | % |
|
Class C: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| 2.37 | % |
| $ | 27,137 |
|
| 0.52 | % |
| 1.76 | % |
| 1.55 | % |
| 12.20 | % |
|
|
| 4/1/2005 - 3/31/2006 (4) |
| 6.80 | % |
|
| 23,860 |
|
| 0.52 | % |
| 1.82 | % |
| 1.22 | % |
| 37.91 | % |
|
|
| 4/1/2004 - 3/31/2005 (4) |
| 2.70 | % |
|
| 15,375 |
|
| 0.50 | % |
| 2.24 | % |
| 0.55 | % |
| 7.82 | % |
|
|
| 12/31/2003 - 3/31/2004 (4) |
| 1.30 | % |
|
| 5,354 |
|
| 0.50 | % |
| 3.36 | % |
| (0.04 | %) |
| 2.81 | % |
|
Class R: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| 2.57 | % |
| $ | 788 |
|
| 0.02 | % |
| 1.26 | % |
| 2.05 | % |
| 12.20 | % |
|
|
| 9/30/2005 - 3/31/2006 (4) |
| 3.63 | % |
|
| 290 |
|
| 0.02 | % |
| 1.32 | % |
| 1.72 | % |
| 37.91 | % |
|
|
|
See Notes to Financial Statements | See explanation of references on C-11 |
C-1
|
PACIFIC FUNDS |
FINANCIAL HIGHLIGHTS (Continued) |
Selected per share, ratios and supplemental data for each year or period ended were as follows: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment Activities |
| |||||||||||
|
|
|
|
|
|
|
|
| |||||||||||
|
|
|
| Net Asset |
| Net |
| Net |
| Total |
| ||||||||
| |||||||||||||||||||
PF Portfolio Optimization Model C |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||
Class A: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| $ | 11.56 |
|
| $ | 0.08 |
|
| $ | 0.15 |
|
| $ | 0.23 |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| 10.54 |
|
|
| 0.15 |
|
|
| 1.06 |
|
|
| 1.21 |
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| 10.14 |
|
|
| 0.08 |
|
|
| 0.43 |
|
|
| 0.51 |
|
|
|
| 12/31/2003 - 3/31/2004 (4) |
|
| 10.00 |
|
|
| 0.01 |
|
|
| 0.13 |
|
|
| 0.14 |
|
|
| |||||||||||||||||||
Class B: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| $ | 11.51 |
|
| $ | 0.05 |
|
| $ | 0.16 |
|
| $ | 0.21 |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| 10.50 |
|
|
| 0.09 |
|
|
| 1.07 |
|
|
| 1.16 |
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| 10.13 |
|
|
| 0.03 |
|
|
| 0.43 |
|
|
| 0.46 |
|
|
|
| 12/31/2003 - 3/31/2004 (4) |
|
| 10.00 |
|
|
| — | (6) |
|
| 0.13 |
|
|
| 0.13 |
|
|
| |||||||||||||||||||
Class C: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| $ | 11.50 |
|
| $ | 0.05 |
|
| $ | 0.16 |
|
| $ | 0.21 |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| 10.49 |
|
|
| 0.09 |
|
|
| 1.07 |
|
|
| 1.16 |
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| 10.12 |
|
|
| 0.03 |
|
|
| 0.43 |
|
|
| 0.46 |
|
|
|
| 12/31/2003 - 3/31/2004 (4) |
|
| 10.00 |
|
|
| — | (6) |
|
| 0.12 |
|
|
| 0.12 |
|
|
| |||||||||||||||||||
Class R: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| $ | 11.56 |
|
| $ | 0.08 |
|
| $ | 0.14 |
|
| $ | 0.22 |
|
|
|
| 9/30/2005 - 3/31/2006 (4) |
|
| 11.05 |
|
|
| 0.07 |
|
|
| 0.60 |
|
|
| 0.67 |
|
|
| |||||||||||||||||||
PF Portfolio Optimization Model D |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||
Class A: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| $ | 12.02 |
|
| $ | 0.05 |
|
| $ | 0.15 |
|
| $ | 0.20 |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| 10.66 |
|
|
| 0.10 |
|
|
| 1.44 |
|
|
| 1.54 |
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| 10.11 |
|
|
| 0.05 |
|
|
| 0.58 |
|
|
| 0.63 |
|
|
|
| 12/31/2003 - 3/31/2004 (4) |
|
| 10.00 |
|
|
| 0.01 |
|
|
| 0.10 |
|
|
| 0.11 |
|
|
| |||||||||||||||||||
Class B: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| $ | 11.97 |
|
| $ | 0.02 |
|
| $ | 0.16 |
|
| $ | 0.18 |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| 10.63 |
|
|
| 0.04 |
|
|
| 1.45 |
|
|
| 1.49 |
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| 10.10 |
|
|
| — | (6) |
|
| 0.58 |
|
|
| 0.58 |
|
|
|
| 12/31/2003 - 3/31/2004 (4) |
|
| 10.00 |
|
|
| (0.01 | ) |
|
| 0.11 |
|
|
| 0.10 |
|
|
| |||||||||||||||||||
Class C: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| $ | 11.95 |
|
| $ | 0.02 |
|
| $ | 0.15 |
|
| $ | 0.17 |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| 10.61 |
|
|
| 0.04 |
|
|
| 1.45 |
|
|
| 1.49 |
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| 10.09 |
|
|
| — | (6) |
|
| 0.57 |
|
|
| 0.57 |
|
|
|
| 12/31/2003 - 3/31/2004 (4) |
|
| 10.00 |
|
|
| (0.01 | ) |
|
| 0.10 |
|
|
| 0.09 |
|
|
| |||||||||||||||||||
Class R: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| $ | 12.02 |
|
| $ | 0.05 |
|
| $ | 0.15 |
|
| $ | 0.20 |
|
|
|
| 9/30/2005 - 3/31/2006 (4) |
|
| 11.28 |
|
|
| 0.05 |
|
|
| 0.83 |
|
|
| 0.88 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Distributions |
|
|
|
| |||||||||||
| |||||||||||||||||||
|
|
|
| Dividends |
| Distributions |
| Total |
| Net Asset |
| ||||||||
| |||||||||||||||||||
PF Portfolio Optimization Model C |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||
Class A: |
| 4/1/2006 - 9/30/2006 (4),(5) |
|
| ($0.01 | ) |
|
| ($0.14 | ) |
|
| ($0.15 | ) |
| $ | 11.64 |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| (0.16 | ) |
|
| (0.03 | ) |
|
| (0.19 | ) |
|
| 11.56 |
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| (0.09 | ) |
|
| (0.02 | ) |
|
| (0.11 | ) |
|
| 10.54 |
|
|
|
| 12/31/2003 - 3/31/2004 (4) |
|
| — |
|
|
| — |
|
|
| — |
|
|
| 10.14 |
|
|
| |||||||||||||||||||
Class B: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| $ | — | (6) |
|
| ($0.14 | ) |
|
| ($0.14 | ) |
| $ | 11.58 |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| (0.12 | ) |
|
| (0.03 | ) |
|
| (0.15 | ) |
|
| 11.51 |
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| (0.07 | ) |
|
| (0.02 | ) |
|
| (0.09 | ) |
|
| 10.50 |
|
|
|
| 12/31/2003 - 3/31/2004 (4) |
|
| — |
|
|
| — |
|
|
| — |
|
|
| 10.13 |
|
|
| |||||||||||||||||||
Class C: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| $ | —(6 | ) |
|
| ($0.14 | ) |
|
| ($0.14 | ) |
| $ | 11.57 |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| (0.12 | ) |
|
| (0.03 | ) |
|
| (0.15 | ) |
|
| 11.50 |
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| (0.07 | ) |
|
| (0.02 | ) |
|
| (0.09 | ) |
|
| 10.49 |
|
|
|
| 12/31/2003 - 3/31/2004 (4) |
|
| — |
|
|
| — |
|
|
| — |
|
|
| 10.12 |
|
|
| |||||||||||||||||||
Class R: |
| 4/1/2006 - 9/30/2006 (4),(5) |
|
| ($0.01 | ) |
|
| ($0.14 | ) |
|
| ($0.15 | ) |
| $ | 11.63 |
|
|
|
| 9/30/2005 - 3/31/2006 (4) |
|
| (0.15 | ) |
|
| (0.01 | ) |
|
| (0.16 | ) |
|
| 11.56 |
|
|
| |||||||||||||||||||
PF Portfolio Optimization Model D |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||
Class A: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| $ | — |
|
|
| ($0.15 | ) |
|
| ($0.15 | ) |
| $ | 12.07 |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| (0.13 | ) |
|
| (0.05 | ) |
|
| (0.18 | ) |
|
| 12.02 |
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| (0.06 | ) |
|
| (0.02 | ) |
|
| (0.08 | ) |
|
| 10.66 |
|
|
|
| 12/31/2003 - 3/31/2004 (4) |
|
| — |
|
|
| — |
|
|
| — |
|
|
| 10.11 |
|
|
| |||||||||||||||||||
Class B: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| $ | — |
|
|
| ($0.15 | ) |
|
| ($0.15 | ) |
| $ | 12.00 |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| (0.10 | ) |
|
| (0.05 | ) |
|
| (0.15 | ) |
|
| 11.97 |
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| (0.03 | ) |
|
| (0.02 | ) |
|
| (0.05 | ) |
|
| 10.63 |
|
|
|
| 12/31/2003 - 3/31/2004 (4) |
|
| — |
|
|
| — |
|
|
| — |
|
|
| 10.10 |
|
|
| |||||||||||||||||||
Class C: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| $ | — |
|
|
| ($0.15 | ) |
|
| ($0.15 | ) |
| $ | 11.97 |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| (0.10 | ) |
|
| (0.05 | ) |
|
| (0.15 | ) |
|
| 11.95 |
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| (0.03 | ) |
|
| (0.02 | ) |
|
| (0.05 | ) |
|
| 10.61 |
|
|
|
| 12/31/2003 - 3/31/2004 (4) |
|
| — |
|
|
| — |
|
|
| — |
|
|
| 10.09 |
|
|
| |||||||||||||||||||
Class R: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| $ | — |
|
|
| ($0.15 | ) |
|
| ($0.15 | ) |
| $ | 12.07 |
|
|
|
| 9/30/2005 - 3/31/2006 (4) |
|
| (0.13 | ) |
|
| (0.01 | ) |
|
| (0.14 | ) |
|
| 12.02 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||
|
|
|
| Ratios/Supplemental Data |
| |||||||||||||||||
|
|
|
|
|
| |||||||||||||||||
|
|
|
| Total |
| Net Assets, |
| Ratios of |
| Ratios of |
| Ratios of Net |
| Portfolio |
| |||||||
| ||||||||||||||||||||||
PF Portfolio Optimization Model C |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||
Class A: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| 2.11 | % |
| $ | 112,371 |
|
| 0.00 | % |
| 1.15 | % |
| 1.44 | % |
| 8.53 | % |
|
|
| 4/1/2005 - 3/31/2006 (4) |
| 11.58 | % |
|
| 95,079 |
|
| 0.00 | % |
| 1.20 | % |
| 1.33 | % |
| 26.54 | % |
|
|
| 4/1/2004 - 3/31/2005 (4) |
| 5.09 | % |
|
| 53,783 |
|
| 0.00 | % |
| 1.41 | % |
| 0.82 | % |
| 5.78 | % |
|
|
| 12/31/2003 - 3/31/2004 (4) |
| 1.40 | % |
|
| 12,743 |
|
| 0.00 | % |
| 2.31 | % |
| 0.36 | % |
| 0.86 | % |
|
| ||||||||||||||||||||||
Class B: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| 1.91 | % |
| $ | 35,622 |
|
| 0.50 | % |
| 1.65 | % |
| 0.94 | % |
| 8.53 | % |
|
|
| 4/1/2005 - 3/31/2006 (4) |
| 11.10 | % |
|
| 31,687 |
|
| 0.50 | % |
| 1.70 | % |
| 0.83 | % |
| 26.54 | % |
|
|
| 4/1/2004 - 3/31/2005 (4) |
| 4.55 | % |
|
| 19,414 |
|
| 0.50 | % |
| 1.91 | % |
| 0.32 | % |
| 5.78 | % |
|
|
| 12/31/2003 - 3/31/2004 (4) |
| 1.30 | % |
|
| 5,594 |
|
| 0.50 | % |
| 2.81 | % |
| (0.14 | %) |
| 0.86 | % |
|
| ||||||||||||||||||||||
Class C: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| 1.92 | % |
| $ | 105,598 |
|
| 0.50 | % |
| 1.65 | % |
| 0.94 | % |
| 8.53 | % |
|
|
| 4/1/2005 - 3/31/2006 (4) |
| 11.12 | % |
|
| 88,774 |
|
| 0.50 | % |
| 1.70 | % |
| 0.83 | % |
| 26.54 | % |
|
|
| 4/1/2004 - 3/31/2005 (4) |
| 4.53 | % |
|
| 52,510 |
|
| 0.50 | % |
| 1.91 | % |
| 0.32 | % |
| 5.78 | % |
|
|
| 12/31/2003 - 3/31/2004 (4) |
| 1.20 | % |
|
| 16,870 |
|
| 0.50 | % |
| 2.81 | % |
| (0.14 | %) |
| 0.86 | % |
|
| ||||||||||||||||||||||
Class R: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| 2.02 | % |
| $ | 925 |
|
| 0.00 | % |
| 1.15 | % |
| 1.44 | % |
| 8.53 | % |
|
|
| 9/30/2005 - 3/31/2006 (4) |
| 6.16 | % |
|
| 13 |
|
| 0.00 | % |
| 1.20 | % |
| 1.33 | % |
| 26.54 | % |
|
| ||||||||||||||||||||||
PF Portfolio Optimization Model D |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||
Class A: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| 1.73 | % |
| $ | 113,723 |
|
| 0.00 | % |
| 1.14 | % |
| 0.80 | % |
| 7.67 | % |
|
|
| 4/1/2005 - 3/31/2006 (4) |
| 14.59 | % |
|
| 93,498 |
|
| 0.00 | % |
| 1.19 | % |
| 0.86 | % |
| 27.98 | % |
|
|
| 4/1/2004 - 3/31/2005 (4) |
| 6.26 | % |
|
| 43,986 |
|
| 0.00 | % |
| 1.43 | % |
| 0.52 | % |
| 10.16 | % |
|
|
| 12/31/2003 - 3/31/2004 (4) |
| 1.10 | % |
|
| 13,362 |
|
| 0.00 | % |
| 2.47 | % |
| 0.22 | % |
| 0.68 | % |
|
| ||||||||||||||||||||||
Class B: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| 1.56 | % |
| $ | 43,648 |
|
| 0.50 | % |
| 1.64 | % |
| 0.30 | % |
| 7.67 | % |
|
|
| 4/1/2005 - 3/31/2006 (4) |
| 14.09 | % |
|
| 35,154 |
|
| 0.50 | % |
| 1.69 | % |
| 0.36 | % |
| 27.98 | % |
|
|
| 4/1/2004 - 3/31/2005 (4) |
| 5.79 | % |
|
| 18,954 |
|
| 0.50 | % |
| 1.93 | % |
| 0.02 | % |
| 10.16 | % |
|
|
| 12/31/2003 - 3/31/2004 (4) |
| 1.00 | % |
|
| 6,962 |
|
| 0.50 | % |
| 2.97 | % |
| (0.28 | %) |
| 0.68 | % |
|
| ||||||||||||||||||||||
Class C: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| 1.48 | % |
| $ | 106,414 |
|
| 0.50 | % |
| 1.64 | % |
| 0.30 | % |
| 7.67 | % |
|
|
| 4/1/2005 - 3/31/2006 (4) |
| 14.13 | % |
|
| 90,306 |
|
| 0.50 | % |
| 1.69 | % |
| 0.36 | % |
| 27.98 | % |
|
|
| 4/1/2004 - 3/31/2005 (4) |
| 5.72 | % |
|
| 48,159 |
|
| 0.50 | % |
| 1.93 | % |
| 0.02 | % |
| 10.16 | % |
|
|
| 12/31/2003 - 3/31/2004 (4) |
| 0.90 | % |
|
| 12,719 |
|
| 0.50 | % |
| 2.97 | % |
| (0.28 | %) |
| 0.68 | % |
|
| ||||||||||||||||||||||
Class R: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| 1.73 | % |
| $ | 625 |
|
| 0.00 | % |
| 1.14 | % |
| 0.80 | % |
| 7.67 | % |
|
|
| 9/30/2005 - 3/31/2006 (4) |
| 7.92 | % |
|
| 11 |
|
| 0.00 | % |
| 1.19 | % |
| 0.86 | % |
| 27.98 | % |
|
|
See Notes to Financial Statements | See explanation of references on C-11 |
C-2
PACIFIC FUNDS
FINANCIAL HIGHLIGHTS (Continued)
Selected per share, ratios and supplemental data for each year or period ended were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment Activities |
| ||||||||||
|
|
|
|
| |||||||||||||||
|
|
|
| Net Asset |
| Net |
| Net |
| Total |
| ||||||||
PF Portfolio Optimization Model E |
|
| |||||||||||||||||
Class A: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| $ | 12.57 |
|
| $ | 0.01 |
|
| $ | 0.22 |
|
| $ | 0.23 |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| 10.75 |
|
|
| 0.05 |
|
|
| 1.94 |
|
|
| 1.99 |
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| 10.08 |
|
|
| 0.02 |
|
|
| 0.70 |
|
|
| 0.72 |
|
|
|
| 12/31/2003 - 3/31/2004 (4) |
|
| 10.00 |
|
|
| — | (6) |
|
| 0.08 |
|
|
| 0.08 |
|
|
Class B: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| $ | 12.52 |
|
|
| ($0.02 | ) |
| $ | 0.22 |
|
| $ | 0.20 |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| 10.72 |
|
|
| (0.01 | ) |
|
| 1.94 |
|
|
| 1.93 |
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| 10.07 |
|
|
| (0.03 | ) |
|
| 0.71 |
|
|
| 0.68 |
|
|
|
| 12/31/2003 - 3/31/2004 (4) |
|
| 10.00 |
|
|
| (0.01 | ) |
|
| 0.08 |
|
|
| 0.07 |
|
|
Class C: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| $ | 12.51 |
|
|
| ($0.02 | ) |
| $ | 0.23 |
|
| $ | 0.21 |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| 10.72 |
|
|
| (0.01 | ) |
|
| 1.93 |
|
|
| 1.92 |
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| 10.07 |
|
|
| (0.03 | ) |
|
| 0.71 |
|
|
| 0.68 |
|
|
|
| 12/31/2003 - 3/31/2004 (4) |
|
| 10.00 |
|
|
| (0.01 | ) |
|
| 0.08 |
|
|
| 0.07 |
|
|
Class R: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| $ | 12.57 |
|
| $ | 0.01 |
|
| $ | 0.23 |
|
| $ | 0.24 |
|
|
|
| 9/30/2005 - 3/31/2006 (4) |
|
| 11.50 |
|
|
| 0.02 |
|
|
| 1.17 |
|
|
| 1.19 |
|
|
PF AllianceBernstein International Value Fund (7) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||
Class A: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| $ | 15.30 |
|
| $ | 0.14 |
|
| $ | 0.38 |
|
| $ | 0.52 |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| 13.22 |
|
|
| 0.14 |
|
|
| 2.19 |
|
|
| 2.33 |
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| 11.89 |
|
|
| 0.08 |
|
|
| 1.46 |
|
|
| 1.54 |
|
|
|
| 4/1/2003 - 3/31/2004 (4) |
|
| 8.73 |
|
|
| 0.06 |
|
|
| 3.13 |
|
|
| 3.19 |
|
|
|
| 4/1/2002 - 3/31/2003 (4) |
|
| 11.09 |
|
|
| 0.07 |
|
|
| (2.33 | ) |
|
| (2.26 | ) |
|
|
| 9/28/2001 - 3/31/2002 (4) |
|
| 10.00 |
|
|
| (0.02 | ) |
|
| 1.14 |
|
|
| 1.12 |
|
|
Class B: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| $ | 15.05 |
|
| $ | 0.10 |
|
| $ | 0.36 |
|
| $ | 0.46 |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| 13.00 |
|
|
| 0.07 |
|
|
| 2.16 |
|
|
| 2.23 |
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| 11.73 |
|
|
| 0.01 |
|
|
| 1.45 |
|
|
| 1.46 |
|
|
|
| 4/1/2003 - 3/31/2004 (4) |
|
| 8.66 |
|
|
| 0.02 |
|
|
| 3.07 |
|
|
| 3.09 |
|
|
|
| 4/1/2002 - 3/31/2003 (4) |
|
| 11.08 |
|
|
| 0.02 |
|
|
| (2.33 | ) |
|
| (2.31 | ) |
|
|
| 9/28/2001 - 3/31/2002 (4) |
|
| 10.00 |
|
|
| (0.05 | ) |
|
| 1.14 |
|
|
| 1.09 |
|
|
Class C: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| $ | 15.02 |
|
| $ | 0.10 |
|
| $ | 0.37 |
|
| $ | 0.47 |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| 13.00 |
|
|
| 0.07 |
|
|
| 2.14 |
|
|
| 2.21 |
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| 11.73 |
|
|
| 0.01 |
|
|
| 1.45 |
|
|
| 1.46 |
|
|
|
| 4/1/2003 - 3/31/2004 (4) |
|
| 8.66 |
|
|
| 0.02 |
|
|
| 3.07 |
|
|
| 3.09 |
|
|
|
| 4/1/2002 - 3/31/2003 (4) |
|
| 11.07 |
|
|
| 0.02 |
|
|
| (2.32 | ) |
|
| (2.30 | ) |
|
|
| 9/28/2001 - 3/31/2002 (4) |
|
| 10.00 |
|
|
| (0.05 | ) |
|
| 1.14 |
|
|
| 1.09 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Distributions |
|
|
|
|
| ||||||||||
|
|
|
|
| |||||||||||||||
|
|
|
| Dividends |
| Distributions |
| Total |
| Net Asset |
| ||||||||
PF Portfolio Optimization Model E |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Class A: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| $ | — | (6) |
|
| ($0.24 | ) |
|
| ($0.24 | ) |
| $ | 12.56 |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| (0.11 | ) |
|
| (0.06 | ) |
|
| (0.17 | ) |
|
| 12.57 |
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| (0.02 | ) |
|
| (0.03 | ) |
|
| (0.05 | ) |
|
| 10.75 |
|
|
|
| 12/31/2003 - 3/31/2004 (4) |
|
| — |
|
|
| — |
|
|
| — |
|
|
| 10.08 |
|
|
Class B: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| $ | — |
|
|
| ($0.24 | ) |
|
| ($0.24 | ) |
| $ | 12.48 |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| (0.07 | ) |
|
| (0.06 | ) |
|
| (0.13 | ) |
|
| 12.52 |
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| — |
|
|
| (0.03 | ) |
|
| (0.03 | ) |
|
| 10.72 |
|
|
|
| 12/31/2003 - 3/31/2004 (4) |
|
| — |
|
|
| — |
|
|
| — |
|
|
| 10.07 |
|
|
Class C: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| $ | — |
|
|
| ($0.24 | ) |
|
| ($0.24 | ) |
| $ | 12.48 |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| (0.07 | ) |
|
| (0.06 | ) |
|
| (0.13 | ) |
|
| 12.51 |
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| — |
|
|
| (0.03 | ) |
|
| (0.03 | ) |
|
| 10.72 |
|
|
|
| 12/31/2003 - 3/31/2004 (4) |
|
| — |
|
|
| — |
|
|
| — |
|
|
| 10.07 |
|
|
Class R: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| $ | — | (6) |
|
| ($0.24 | ) |
|
| ($0.24 | ) |
| $ | 12.57 |
|
|
|
| 9/30/2005 - 3/31/2006 (4) |
|
| (0.11 | ) |
|
| (0.01 | ) |
|
| (0.12 | ) |
|
| 12.57 |
|
|
PF AllianceBernstein International Value Fund (7) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||
Class A: |
| 4/1/2006 - 9/30/2006 (4),(5) |
|
| ($0.04 | ) |
|
| ($0.50 | ) |
|
| ($0.54 | ) |
| $ | 15.28 |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| (0.08 | ) |
|
| (0.17 | ) |
|
| (0.25 | ) |
|
| 15.30 |
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| (0.02 | ) |
|
| (0.19 | ) |
|
| (0.21 | ) |
|
| 13.22 |
|
|
|
| 4/1/2003 - 3/31/2004 (4) |
|
| (0.03 | ) |
|
| — |
|
|
| (0.03 | ) |
|
| 11.89 |
|
|
|
| 4/1/2002 - 3/31/2003 (4) |
|
| (0.04 | ) |
|
| (0.06 | ) |
|
| (0.10 | ) |
|
| 8.73 |
|
|
|
| 9/28/2001 - 3/31/2002 (4) |
|
| (0.03 | ) |
|
| — |
|
|
| (0.03 | ) |
|
| 11.09 |
|
|
Class B: |
| 4/1/2006 - 9/30/2006 (4),(5) |
|
| ($0.02 | ) |
|
| ($0.50 | ) |
|
| ($0.52 | ) |
| $ | 14.99 |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| (0.01 | ) |
|
| (0.17 | ) |
|
| (0.18 | ) |
|
| 15.05 |
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| — |
|
|
| (0.19 | ) |
|
| (0.19 | ) |
|
| 13.00 |
|
|
|
| 4/1/2003 - 3/31/2004 (4) |
|
| (0.02 | ) |
|
| — |
|
|
| (0.02 | ) |
|
| 11.73 |
|
|
|
| 4/1/2002 - 3/31/2003 (4) |
|
| (0.05 | ) |
|
| (0.06 | ) |
|
| (0.11 | ) |
|
| 8.66 |
|
|
|
| 9/28/2001 - 3/31/2002 (4) |
|
| (0.01 | ) |
|
| — |
|
|
| (0.01 | ) |
|
| 11.08 |
|
|
Class C: |
| 4/1/2006 - 9/30/2006 (4),(5) |
|
| ($0.02 | ) |
|
| ($0.50 | ) |
|
| ($0.52 | ) |
| $ | 14.97 |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| (0.02 | ) |
|
| (0.17 | ) |
|
| (0.19 | ) |
|
| 15.02 |
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| — |
|
|
| (0.19 | ) |
|
| (0.19 | ) |
|
| 13.00 |
|
|
|
| 4/1/2003 - 3/31/2004 (4) |
|
| (0.02 | ) |
|
| — |
|
|
| (0.02 | ) |
|
| 11.73 |
|
|
|
| 4/1/2002 - 3/31/2003 (4) |
|
| (0.05 | ) |
|
| (0.06 | ) |
|
| (0.11 | ) |
|
| 8.66 |
|
|
|
| 9/28/2001 - 3/31/2002 (4) |
|
| (0.02 | ) |
|
| — |
|
|
| (0.02 | ) |
|
| 11.07 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Ratios/Supplemental Data |
| ||||||||||||||||||
|
|
|
|
|
| ||||||||||||||||||
|
| Total |
| Net Assets, |
| Ratios of |
| Ratios of |
| Ratios of |
| Portfolio |
|
| |||||||||
| |||||||||||||||||||||||
PF Portfolio Optimization Model E |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||
Class A: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| 1.94 | % |
| $ | 50,532 |
|
| 0.00 | % |
| 1.18 | % |
| 0.21 | % |
| 11.34 | % |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
| 18.59 | % |
|
| 39,397 |
|
| 0.00 | % |
| 1.29 | % |
| 0.42 | % |
| 42.51 | % |
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
| 7.17 | % |
|
| 18,244 |
|
| 0.00 | % |
| 1.75 | % |
| 0.23 | % |
| 22.37 | % |
|
|
|
| 12/31/2003 - 3/31/2004 (4) |
| 0.80 | % |
|
| 8,187 |
|
| 0.00 | % |
| 2.52 | % |
| 0.09 | % |
| 0.00 | % |
|
|
| |||||||||||||||||||||||
Class B: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| 1.70 | % |
| $ | 16,735 |
|
| 0.50 | % |
| 1.68 | % |
| (0.29 | %) |
| 11.34 | % |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
| 18.11 | % |
|
| 12,889 |
|
| 0.50 | % |
| 1.79 | % |
| (0.08 | %) |
| 42.51 | % |
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
| 6.75 | % |
|
| 6,110 |
|
| 0.50 | % |
| 2.25 | % |
| (0.27 | %) |
| 22.37 | % |
|
|
|
| 12/31/2003 - 3/31/2004 (4) |
| 0.70 | % |
|
| 2,409 |
|
| 0.50 | % |
| 3.02 | % |
| (0.41 | %) |
| 0.00 | % |
|
|
| |||||||||||||||||||||||
Class C: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| 1.78 | % |
| $ | 38,267 |
|
| 0.50 | % |
| 1.68 | % |
| (0.29 | %) |
| 11.34 | % |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
| 18.00 | % |
|
| 30,782 |
|
| 0.50 | % |
| 1.79 | % |
| (0.08 | %) |
| 42.51 | % |
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
| 6.75 | % |
|
| 17,510 |
|
| 0.50 | % |
| 2.25 | % |
| (0.27 | %) |
| 22.37 | % |
|
|
|
| 12/31/2003 - 3/31/2004 (4) |
| 0.70 | % |
|
| 7,868 |
|
| 0.50 | % |
| 3.02 | % |
| (0.41 | %) |
| 0.00 | % |
|
|
| |||||||||||||||||||||||
Class R: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| 2.02 | % |
| $ | 41 |
|
| 0.00 | % |
| 1.18 | % |
| 0.21 | % |
| 11.34 | % |
|
|
|
| 9/30/2005 - 3/31/2006 (4) |
| 10.44 | % |
|
| 11 |
|
| 0.00 | % |
| 1.29 | % |
| 0.42 | % |
| 42.51 | % |
|
|
| |||||||||||||||||||||||
PF AllianceBernstein International Value Fund (7) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
Class A: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| 3.37 | % |
| $ | 56,982 |
|
| 1.78 | % |
| 2.18 | % |
| 1.88 | % |
| 97.88 | % |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
| 17.85 | % |
|
| 57,657 |
|
| 1.80 | % |
| 2.28 | % |
| 0.99 | % |
| 55.25 | % |
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
| 13.13 | % |
|
| 50,801 |
|
| 1.80 | % |
| 2.45 | % |
| 0.62 | % |
| 20.92 | % |
|
|
|
| 4/1/2003 - 3/31/2004 (4) |
| 36.57 | % |
|
| 20,007 |
|
| 1.80 | % |
| 2.86 | % |
| 0.73 | % |
| 58.63 | % |
|
|
|
| 4/1/2002 - 3/31/2003 (4) |
| (20.50 | %) |
|
| 7,218 |
|
| 1.80 | % |
| 3.89 | % |
| 0.76 | % |
| 19.60 | % |
|
|
|
| 9/28/2001 - 3/31/2002 (4) |
| 11.21 | % |
|
| 7,817 |
|
| 1.80 | % |
| 7.07 | % |
| (0.35 | %) |
| 7.11 | % |
|
|
| |||||||||||||||||||||||
Class B: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| 3.12 | % |
| $ | 521 |
|
| 2.28 | % |
| 2.68 | % |
| 1.38 | % |
| 97.88 | % |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
| 17.36 | % |
|
| 427 |
|
| 2.30 | % |
| 2.78 | % |
| 0.49 | % |
| 55.25 | % |
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
| 12.59 | % |
|
| 449 |
|
| 2.30 | % |
| 2.95 | % |
| 0.12 | % |
| 20.92 | % |
|
|
|
| 4/1/2003 - 3/31/2004 (4) |
| 35.79 | % |
|
| 324 |
|
| 2.30 | % |
| 3.36 | % |
| 0.23 | % |
| 58.63 | % |
|
|
|
| 4/1/2002 - 3/31/2003 (4) |
| (20.93 | %) |
|
| 771 |
|
| 2.30 | % |
| 4.39 | % |
| 0.26 | % |
| 19.60 | % |
|
|
|
| 9/28/2001 - 3/31/2002 (4) |
| 10.95 | % |
|
| 26 |
|
| 2.30 | % |
| 7.57 | % |
| (0.85 | %) |
| 7.11 | % |
|
|
| |||||||||||||||||||||||
Class C: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| 3.10 | % |
| $ | 1,644 |
|
| 2.28 | % |
| 2.68 | % |
| 1.38 | % |
| 97.88 | % |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
| 17.19 | % |
|
| 1,548 |
|
| 2.30 | % |
| 2.78 | % |
| 0.49 | % |
| 55.25 | % |
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
| 12.59 | % |
|
| 1,212 |
|
| 2.30 | % |
| 2.95 | % |
| 0.12 | % |
| 20.92 | % |
|
|
|
| 4/1/2003 - 3/31/2004 (4) |
| 35.79 | % |
|
| 781 |
|
| 2.30 | % |
| 3.36 | % |
| 0.23 | % |
| 58.63 | % |
|
|
|
| 4/1/2002 - 3/31/2003 (4) |
| (20.93 | %) |
|
| 1,656 |
|
| 2.30 | % |
| 4.39 | % |
| 0.26 | % |
| 19.60 | % |
|
|
|
| 9/28/2001 - 3/31/2002 (4) |
| 10.91 | % |
|
| 143 |
|
| 2.30 | % |
| 7.57 | % |
| (0.85 | %) |
| 7.11 | % |
|
|
|
|
|
See Notes to Financial Statements | See explanation of references on C-11 |
C-3
|
PACIFIC FUNDS |
FINANCIAL HIGHLIGHTS (Continued) |
Selected per share, ratios and supplemental data for each year or period ended were as follows: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment Activities |
| |||||||||||
|
|
|
|
|
| |||||||||||||||
|
|
|
| Net Asset Value, |
| Net |
| Net |
| Total |
| |||||||||
PF Goldman Sachs Short Duration Bond Fund |
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||
Class A: |
|
| 4/1/2006 - 9/30/2006 (4),(5) |
| $ | 9.76 |
|
| $ | 0.15 |
|
| $ | 0.04 |
|
| $ | 0.19 |
|
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| 9.85 |
|
|
| 0.19 |
|
|
| (0.09 | ) |
|
| 0.10 |
|
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| 10.09 |
|
|
| 0.09 |
|
|
| (0.22 | ) |
|
| (0.13 | ) |
|
|
|
| 12/31/2003 - 3/31/2004 (4) |
|
| 10.00 |
|
|
| 0.01 |
|
|
| 0.08 |
|
|
| 0.09 |
|
|
Class B: |
|
| 4/1/2006 - 9/30/2006 (4),(5) |
| $ | 9.74 |
|
| $ | 0.13 |
|
| $ | 0.04 |
|
| $ | 0.17 |
|
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| 9.85 |
|
|
| 0.14 |
|
|
| (0.11 | ) |
|
| 0.03 |
|
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| 10.08 |
|
|
| 0.04 |
|
|
| (0.21 | ) |
|
| (0.17 | ) |
|
|
|
| 12/31/2003 - 3/31/2004 (4) |
|
| 10.00 |
|
|
| (0.01 | ) |
|
| 0.09 |
|
|
| 0.08 |
|
|
Class C: |
|
| 4/1/2006 - 9/30/2006 (4),(5) |
| $ | 9.74 |
|
| $ | 0.13 |
|
| $ | 0.03 |
|
| $ | 0.16 |
|
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| 9.83 |
|
|
| 0.14 |
|
|
| (0.09 | ) |
|
| 0.05 |
|
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| 10.08 |
|
|
| 0.04 |
|
|
| (0.22 | ) |
|
| (0.18 | ) |
|
|
|
| 12/31/2003 - 3/31/2004 (4) |
|
| 10.00 |
|
|
| (0.01 | ) |
|
| 0.09 |
|
|
| 0.08 |
|
|
PF Janus Growth LT Fund |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||
Class A: |
|
| 4/1/2006 - 9/30/2006 (4),(5) |
| $ | 12.23 |
|
|
| ($0.03 | ) |
| $ | 0.01 |
|
|
| ($0.02 | ) |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| 10.64 |
|
|
| (0.05 | ) |
|
| 1.64 |
|
|
| 1.59 |
|
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| 10.34 |
|
|
| (0.05 | ) |
|
| 0.35 |
|
|
| 0.30 |
|
|
|
|
| 4/1/2003 - 3/31/2004 (4) |
|
| 7.62 |
|
|
| (0.10 | ) |
|
| 2.82 |
|
|
| 2.72 |
|
|
|
|
| 4/1/2002 - 3/31/2003 |
|
| 10.32 |
|
|
| (0.08 | ) |
|
| (2.62 | ) |
|
| (2.70 | ) |
|
|
|
| 9/28/2001 - 3/31/2002 (4) |
|
| 10.00 |
|
|
| (0.04 | ) |
|
| 0.39 |
|
|
| 0.35 |
|
|
Class B: |
|
| 4/1/2006 - 9/30/2006 (4),(5) |
| $ | 12.00 |
|
|
| ($0.06 | ) |
| $ | — |
|
|
| ($0.06 | ) |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| 10.49 |
|
|
| (0.11 | ) |
|
| 1.62 |
|
|
| 1.51 |
|
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| 10.24 |
|
|
| (0.10 | ) |
|
| 0.35 |
|
|
| 0.25 |
|
|
|
|
| 4/1/2003 - 3/31/2004 (4) |
|
| 7.58 |
|
|
| (0.15 | ) |
|
| 2.81 |
|
|
| 2.66 |
|
|
|
|
| 4/1/2002 - 3/31/2003 |
|
| 10.30 |
|
|
| (0.06 | ) |
|
| (2.66 | ) |
|
| (2.72 | ) |
|
|
|
| 9/28/2001 - 3/31/2002 (4) |
|
| 10.00 |
|
|
| (0.07 | ) |
|
| 0.40 |
|
|
| 0.33 |
|
|
Class C: |
|
| 4/1/2006 - 9/30/2006 (4),(5) |
| $ | 11.95 |
|
|
| ($0.06 | ) |
| $ | 0.01 |
|
|
| ($0.05 | ) |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| 10.46 |
|
|
| (0.11 | ) |
|
| 1.60 |
|
|
| 1.49 |
|
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| 10.21 |
|
|
| (0.10 | ) |
|
| 0.35 |
|
|
| 0.25 |
|
|
|
|
| 4/1/2003 - 3/31/2004 (4) |
|
| 7.57 |
|
|
| (0.15 | ) |
|
| 2.79 |
|
|
| 2.64 |
|
|
|
|
| 4/1/2002 - 3/31/2003 |
|
| 10.31 |
|
|
| (0.08 | ) |
|
| (2.66 | ) |
|
| (2.74 | ) |
|
|
|
| 9/28/2001 - 3/31/2002 (4) |
|
| 10.00 |
|
|
| (0.07 | ) |
|
| 0.40 |
|
|
| 0.33 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Distributions |
| ||||||||||
|
|
|
|
|
|
| ||||||||||||||
|
|
|
|
| Dividends |
| Distributions |
| Total |
| Net Asset |
| ||||||||
PF Goldman Sachs Short Duration Bond Fund |
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
Class A: |
|
| 4/1/2006 - 9/30/2006 (4),(5) |
|
| ($0.15 | ) |
| $ | — |
|
|
| ($0.15 | ) |
| $ | 9.80 |
|
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| (0.19 | ) |
|
| — |
|
|
| (0.19 | ) |
|
| 9.76 |
|
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| (0.09 | ) |
|
| (0.02 | ) |
|
| (0.11 | ) |
|
| 9.85 |
|
|
|
|
| 12/31/2003 - 3/31/2004 (4) |
|
| — |
|
|
| — |
|
|
| — |
|
|
| 10.09 |
|
|
Class B: |
|
| 4/1/2006 - 9/30/2006 (4),(5) |
|
| ($0.12 | ) |
| $ | — |
|
|
| ($0.12 | ) |
| $ | 9.79 |
|
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| (0.14 | ) |
|
| — |
|
|
| (0.14 | ) |
|
| 9.74 |
|
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| (0.04 | ) |
|
| (0.02 | ) |
|
| (0.06 | ) |
|
| 9.85 |
|
|
|
|
| 12/31/2003 - 3/31/2004 (4) |
|
| — |
|
|
| — |
|
|
| — |
|
|
| 10.08 |
|
|
Class C: |
|
| 4/1/2006 - 9/30/2006 (4),(5) |
|
| ($0.12 | ) |
| $ | — |
|
|
| ($0.12 | ) |
| $ | 9.78 |
|
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| (0.14 | ) |
|
| — |
|
|
| (0.14 | ) |
|
| 9.74 |
|
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| (0.05 | ) |
|
| (0.02 | ) |
|
| (0.07 | ) |
|
| 9.83 |
|
|
|
|
| 12/31/2003 - 3/31/2004 (4) |
|
| — |
|
|
| — |
|
|
| — |
|
|
| 10.08 |
|
|
PF Janus Growth LT Fund |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||
Class A: |
|
| 4/1/2006 - 9/30/2006 (4),(5) |
| $ | — |
|
| $ | — |
|
| $ | — |
|
| $ | 12.21 |
|
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| — |
|
|
| — |
|
|
| — |
|
|
| 12.23 |
|
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| — |
|
|
| — |
|
|
| — |
|
|
| 10.64 |
|
|
|
|
| 4/1/2003 - 3/31/2004 (4) |
|
| — |
|
|
| — |
|
|
| — |
|
|
| 10.34 |
|
|
|
|
| 4/1/2002 - 3/31/2003 |
|
| — |
|
|
| — |
|
|
| — |
|
|
| 7.62 |
|
|
|
|
| 9/28/2001 - 3/31/2002 (4) |
|
| (0.03 | ) |
|
| — |
|
|
| (0.03 | ) |
|
| 10.32 |
|
|
Class B: |
|
| 4/1/2006 - 9/30/2006 (4),(5) |
| $ | — |
|
| $ | — |
|
| $ | — |
|
| $ | 11.94 |
|
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| — |
|
|
| — |
|
|
| — |
|
|
| 12.00 |
|
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| — |
|
|
| — |
|
|
| — |
|
|
| 10.49 |
|
|
|
|
| 4/1/2003 - 3/31/2004 (4) |
|
| — |
|
|
| — |
|
|
| — |
|
|
| 10.24 |
|
|
|
|
| 4/1/2002 - 3/31/2003 |
|
| — |
|
|
| — |
|
|
| — |
|
|
| 7.58 |
|
|
|
|
| 9/28/2001 - 3/31/2002 (4) |
|
| (0.03 | ) |
|
| — |
|
|
| (0.03 | ) |
|
| 10.30 |
|
|
Class C: |
|
| 4/1/2006 - 9/30/2006 (4),(5) |
| $ | — |
|
| $ | — |
|
| $ | — |
|
| $ | 11.90 |
|
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| — |
|
|
| — |
|
|
| — |
|
|
| 11.95 |
|
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| — |
|
|
| — |
|
|
| — |
|
|
| 10.46 |
|
|
|
|
| 4/1/2003 - 3/31/2004 (4) |
|
| — |
|
|
| — |
|
|
| — |
|
|
| 10.21 |
|
|
|
|
| 4/1/2002 - 3/31/2003 |
|
| — |
|
|
| — |
|
|
| — |
|
|
| 7.57 |
|
|
|
|
| 9/28/2001 - 3/31/2002 (4) |
|
| (0.02 | ) |
|
| — |
|
|
| (0.02 | ) |
|
| 10.31 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Ratios/Supplemental Data |
| |||||||||||||||||
|
|
|
|
|
|
| |||||||||||||||||
|
|
|
|
| Total |
| Net Assets, |
| Ratios of Expenses |
| Ratios of Expenses |
| Ratios of Net |
| Portfolio |
| |||||||
PF Goldman Sachs Short Duration Bond Fund |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
Class A: |
|
| 4/1/2006 - 9/30/2006 (4),(5) |
| 1.92 | % |
| $ | 52,377 |
|
| 1.52 | % |
| 1.82 | % |
| 3.07 | % |
| 27.47 | % |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
| 1.03 | % |
|
| 44,945 |
|
| 1.55 | % |
| 1.93 | % |
| 1.97 | % |
| 91.81 | % |
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
| (1.34 | %) |
|
| 35,333 |
|
| 1.55 | % |
| 2.34 | % |
| 0.93 | % |
| 203.81 | % |
|
|
|
| 12/31/2003 - 3/31/2004 (4) |
| 0.90 | % |
|
| 13,617 |
|
| 1.55 | % |
| 2.72 | % |
| 0.23 | % |
| 144.88 | % |
|
Class B: |
|
| 4/1/2006 - 9/30/2006 (4),(5) |
| 1.76 | % |
| $ | 17 |
|
| 2.02 | % |
| 2.32 | % |
| 2.57 | % |
| 27.47 | % |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
| 0.35 | % |
|
| 20 |
|
| 2.05 | % |
| 2.43 | % |
| 1.47 | % |
| 91.81 | % |
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
| (1.77 | %) |
|
| 13 |
|
| 2.05 | % |
| 2.84 | % |
| 0.43 | % |
| 203.81 | % |
|
|
|
| 12/31/2003 - 3/31/2004 (4) |
| 0.80 | % |
|
| 10 |
|
| 2.05 | % |
| 3.22 | % |
| (0.27 | %) |
| 144.88 | % |
|
Class C: |
|
| 4/1/2006 - 9/30/2006 (4),(5) |
| 1.65 | % |
| $ | 371 |
|
| 2.02 | % |
| 2.32 | % |
| 2.57 | % |
| 27.47 | % |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
| 0.52 | % |
|
| 588 |
|
| 2.05 | % |
| 2.43 | % |
| 1.47 | % |
| 91.81 | % |
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
| (1.81 | %) |
|
| 579 |
|
| 2.05 | % |
| 2.84 | % |
| 0.43 | % |
| 203.81 | % |
|
|
|
| 12/31/2003 - 3/31/2004 (4) |
| 0.80 | % |
|
| 62 |
|
| 2.05 | % |
| 3.22 | % |
| (0.27 | %) |
| 144.88 | % |
|
PF Janus Growth LT Fund |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||
Class A: |
|
| 4/1/2006 - 9/30/2006 (4),(5) |
| (0.16 | %) |
| $ | 46,558 |
|
| 1.68 | % |
| 2.04 | % |
| (0.54 | %) |
| 23.59 | % |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
| 14.94 | % |
|
| 43,733 |
|
| 1.70 | % |
| 2.15 | % |
| (0.44 | %) |
| 69.48 | % |
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
| 2.90 | % |
|
| 19,585 |
|
| 1.70 | % |
| 2.54 | % |
| (0.44 | %) |
| 42.84 | % |
|
|
|
| 4/1/2003 - 3/31/2004 (4) |
| 35.70 | % |
|
| 11,994 |
|
| 1.70 | % |
| 3.21 | % |
| (1.08 | %) |
| 42.65 | % |
|
|
|
| 4/1/2002 - 3/31/2003 |
| (26.16 | %) |
|
| 6,832 |
|
| 1.70 | % |
| 4.01 | % |
| (0.95 | %) |
| 124.73 | % |
|
|
|
| 9/28/2001 - 3/31/2002 (4) |
| 3.50 | % |
|
| 9,819 |
|
| 1.70 | % |
| 6.29 | % |
| (0.78 | %) |
| 64.33 | % |
|
Class B: |
|
| 4/1/2006 - 9/30/2006 (4),(5) |
| (0.42 | %) |
| $ | 421 |
|
| 2.18 | % |
| 2.54 | % |
| (1.04 | %) |
| 23.59 | % |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
| 14.30 | % |
|
| 412 |
|
| 2.20 | % |
| 2.65 | % |
| (0.94 | %) |
| 69.48 | % |
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
| 2.44 | % |
|
| 373 |
|
| 2.20 | % |
| 3.04 | % |
| (0.94 | %) |
| 42.84 | % |
|
|
|
| 4/1/2003 - 3/31/2004 (4) |
| 34.91 | % |
|
| 293 |
|
| 2.20 | % |
| 3.71 | % |
| (1.58 | %) |
| 42.65 | % |
|
|
|
| 4/1/2002 - 3/31/2003 |
| (26.31 | %) |
|
| 301 |
|
| 2.20 | % |
| 4.51 | % |
| (1.45 | %) |
| 124.73 | % |
|
|
|
| 9/28/2001 - 3/31/2002 (4) |
| 3.27 | % |
|
| 57 |
|
| 2.20 | % |
| 6.79 | % |
| (1.28 | %) |
| 64.33 | % |
|
Class C: |
|
| 4/1/2006 - 9/30/2006 (4),(5) |
| (0.42 | %) |
| $ | 1,183 |
|
| 2.18 | % |
| 2.54 | % |
| (1.04 | %) |
| 23.59 | % |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
| 14.24 | % |
|
| 893 |
|
| 2.20 | % |
| 2.65 | % |
| (0.94 | %) |
| 69.48 | % |
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
| 2.45 | % |
|
| 472 |
|
| 2.20 | % |
| 3.04 | % |
| (0.94 | %) |
| 42.84 | % |
|
|
|
| 4/1/2003 - 3/31/2004 (4) |
| 34.87 | % |
|
| 400 |
|
| 2.20 | % |
| 3.71 | % |
| (1.58 | %) |
| 42.65 | % |
|
|
|
| 4/1/2002 - 3/31/2003 |
| (26.58 | %) |
|
| 624 |
|
| 2.20 | % |
| 4.51 | % |
| (1.45 | %) |
| 124.73 | % |
|
|
|
| 9/28/2001 - 3/31/2002 (4) |
| 3.33 | % |
|
| 84 |
|
| 2.20 | % |
| 6.79 | % |
| (1.28 | %) |
| 64.33 | % |
|
|
|
|
See Notes to Financial Statements |
| See explanation of references on C-11 |
|
|
|
C-4 |
|
PACIFIC FUNDS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment Activities |
| ||||||||||
|
|
|
|
|
|
|
|
|
|
| ||||||||
|
|
| Net Asset |
| Net |
| Net |
| Total |
| ||||||||
PF Lazard Mid-Cap Value Fund |
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||
Class A: | 4/1/2006 - 9/30/2006 (4),(5) |
| $ | 10.54 |
|
| $ | — | (6) |
| $ | 0.30 |
|
| $ | 0.30 |
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| 9.90 |
|
|
| (0.02 | ) |
|
| 1.30 |
|
|
| 1.28 |
|
|
| 12/31/2004 - 3/31/2005 (4) |
|
| 10.00 |
|
|
| (0.01 | ) |
|
| (0.09 | ) |
|
| (0.10 | ) |
|
Class B: | 4/1/2006 - 9/30/2006 (4),(5) |
| $ | 10.48 |
|
|
| ($0.03 | ) |
| $ | 0.30 |
|
| $ | 0.27 |
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| 9.89 |
|
|
| (0.07 | ) |
|
| 1.29 |
|
|
| 1.22 |
|
|
| 12/31/2004 - 3/31/2005 (4) |
|
| 10.00 |
|
|
| (0.02 | ) |
|
| (0.09 | ) |
|
| (0.11 | ) |
|
Class C: | 4/1/2006 - 9/30/2006 (4),(5) |
| $ | 10.47 |
|
|
| ($0.03 | ) |
| $ | 0.30 |
|
| $ | 0.27 |
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| 9.89 |
|
|
| (0.07 | ) |
|
| 1.29 |
|
|
| 1.22 |
|
|
| 12/31/2004 - 3/31/2005 (4) |
|
| 10.00 |
|
|
| (0.02 | ) |
|
| (0.09 | ) |
|
| (0.11 | ) |
|
PF Loomis Sayles Large-Cap Growth Fund (8) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
Class A: | 4/1/2006 - 9/30/2006 (4),(5) |
| $ | 10.85 |
|
|
| ($0.04 | ) |
|
| ($1.00 | ) |
|
| ($1.04 | ) |
|
| 4/1/2005 - 3/31/2006 (4) |
|
| 10.14 |
|
|
| (0.07 | ) |
|
| 0.78 |
|
|
| 0.71 |
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| 10.19 |
|
|
| (0.01 | ) |
|
| (0.04 | ) |
|
| (0.05 | ) |
|
| 4/1/2003 - 3/31/2004 (4) |
|
| 8.05 |
|
|
| (0.07 | ) |
|
| 2.21 |
|
|
| 2.14 |
|
|
| 4/1/2002 - 3/31/2003 (4) |
|
| 10.96 |
|
|
| (0.06 | ) |
|
| (2.85 | ) |
|
| (2.91 | ) |
|
| 9/28/2001 - 3/31/2002 (4) |
|
| 10.00 |
|
|
| (0.05 | ) |
|
| 1.06 |
|
|
| 1.01 |
|
|
Class B: | 4/1/2006 - 9/30/2006 (4),(5) |
| $ | 10.62 |
|
|
| ($0.06 | ) |
|
| ($0.98 | ) |
|
| ($1.04 | ) |
|
| 4/1/2005 - 3/31/2006 (4) |
|
| 9.98 |
|
|
| (0.12 | ) |
|
| 0.76 |
|
|
| 0.64 |
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| 10.07 |
|
|
| (0.06 | ) |
|
| (0.03 | ) |
|
| (0.09 | ) |
|
| 4/1/2003 - 3/31/2004 (4) |
|
| 7.98 |
|
|
| (0.11 | ) |
|
| 2.20 |
|
|
| 2.09 |
|
|
| 4/1/2002 - 3/31/2003 (4) |
|
| 10.94 |
|
|
| (0.10 | ) |
|
| (2.86 | ) |
|
| (2.96 | ) |
|
| 9/28/2001 - 3/31/2002 (4) |
|
| 10.00 |
|
|
| (0.08 | ) |
|
| 1.06 |
|
|
| 0.98 |
|
|
Class C: | 4/1/2006 - 9/30/2006 (4),(5) |
| $ | 10.60 |
|
|
| ($0.07 | ) |
|
| ($0.97 | ) |
|
| ($1.04 | ) |
|
| 4/1/2005 - 3/31/2006 (4) |
|
| 9.97 |
|
|
| (0.12 | ) |
|
| 0.75 |
|
|
| 0.63 |
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| 10.06 |
|
|
| (0.06 | ) |
|
| (0.03 | ) |
|
| (0.09 | ) |
|
| 4/1/2003 - 3/31/2004 (4) |
|
| 7.98 |
|
|
| (0.11 | ) |
|
| 2.19 |
|
|
| 2.08 |
|
|
| 4/1/2002 - 3/31/2003 (4) |
|
| 10.93 |
|
|
| (0.10 | ) |
|
| (2.85 | ) |
|
| (2.95 | ) |
|
| 9/28/2001 - 3/31/2002 (4) |
|
| 10.00 |
|
|
| (0.08 | ) |
|
| 1.06 |
|
|
| 0.98 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Distributions |
|
|
|
|
| ||||||||||
|
|
|
|
| ||||||||||||||
|
|
| Dividends |
| Distributions |
| Total |
| Net Asset |
| ||||||||
PF Lazard Mid-Cap Value Fund |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
Class A: | 4/1/2006 - 9/30/2006 (4),(5) |
| $ | — |
|
|
| ($0.28 | ) |
|
| ($0.28 | ) |
| $ | 10.56 |
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| (0.01 | ) |
|
| (0.63 | ) |
|
| (0.64 | ) |
|
| 10.54 |
|
|
| 12/31/2004 - 3/31/2005 (4) |
|
| — |
|
|
| — |
|
|
| — |
|
|
| 9.90 |
|
|
Class B: | 4/1/2006 - 9/30/2006 (4),(5) |
| $ | — |
|
|
| ($0.28 | ) |
|
| ($0.28 | ) |
| $ | 10.47 |
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| — |
|
|
| (0.63 | ) |
|
| (0.63 | ) |
|
| 10.48 |
|
|
| 12/31/2004 - 3/31/2005 (4) |
|
| — |
|
|
| — |
|
|
| — |
|
|
| 9.89 |
|
|
Class C: | 4/1/2006 - 9/30/2006 (4),(5) |
| $ | — |
|
|
| ($0.28 | ) |
|
| ($0.28 | ) |
| $ | 10.46 |
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| (0.01 | ) | �� |
| (0.63 | ) |
|
| (0.64 | ) |
|
| 10.47 |
|
|
| 12/31/2004 - 3/31/2005 (4) |
|
| — |
|
|
| — |
|
|
| — |
|
|
| 9.89 |
|
|
PF Loomis Sayles Large-Cap Growth Fund (8) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
Class A: | 4/1/2006 - 9/30/2006 (4),(5) |
| $ | — |
|
|
| ($0.93 | ) |
|
| ($0.93 | ) |
| $ | 8.88 |
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| — |
|
|
| — |
|
|
| — |
|
|
| 10.85 |
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| — |
|
|
| — |
|
|
| — |
|
|
| 10.14 |
|
|
| 4/1/2003 - 3/31/2004 (4) |
|
| — |
|
|
| — |
|
|
| — |
|
|
| 10.19 |
|
|
| 4/1/2002 - 3/31/2003 (4) |
|
| — |
|
|
| — |
|
|
| — |
|
|
| 8.05 |
|
|
| 9/28/2001 - 3/31/2002 (4) |
|
| (0.03 | ) |
|
| (0.02 | ) |
|
| (0.05 | ) |
|
| 10.96 |
|
|
Class B: | 4/1/2006 - 9/30/2006 (4),(5) |
| $ | — |
|
|
| ($0.93 | ) |
|
| ($0.93 | ) |
| $ | 8.65 |
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| — |
|
|
| — |
|
|
| — |
|
|
| 10.62 |
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| — |
|
|
| — |
|
|
| — |
|
|
| 9.98 |
|
|
| 4/1/2003 - 3/31/2004 (4) |
|
| — |
|
|
| — |
|
|
| — |
|
|
| 10.07 |
|
|
| 4/1/2002 - 3/31/2003 (4) |
|
| — |
|
|
| — |
|
|
| — |
|
|
| 7.98 |
|
|
| 9/28/2001 - 3/31/2002 (4) |
|
| (0.02 | ) |
|
| (0.02 | ) |
|
| (0.04 | ) |
|
| 10.94 |
|
|
Class C: | 4/1/2006 - 9/30/2006 (4),(5) |
| $ | — |
|
|
| ($0.93 | ) |
|
| ($0.93 | ) |
| $ | 8.63 |
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| — |
|
|
| — |
|
|
| — |
|
|
| 10.60 |
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| — |
|
|
| — |
|
|
| — |
|
|
| 9.97 |
|
|
| 4/1/2003 - 3/31/2004 (4) |
|
| — |
|
|
| — |
|
|
| — |
|
|
| 10.06 |
|
|
| 4/1/2002 - 3/31/2003 (4) |
|
| — |
|
|
| — |
|
|
| — |
|
|
| 7.98 |
|
|
| 9/28/2001 - 3/31/2002 (4) |
|
| (0.03 | ) |
|
| (0.02 | ) |
|
| (0.05 | ) |
|
| 10.93 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Ratios/Supplemental Data |
| ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
|
| Total |
| Net Assets, End of |
| Ratios of Expenses |
| Ratios of Expenses |
| Ratios of Net Investment |
| Portfolio Turnover Rates |
| ||||||
PF Lazard Mid-Cap Value Fund |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
Class A: | 4/1/2006 - 9/30/2006 (4),(5) |
| 2.93 | % |
| $ | 53,837 |
| 1.76 | % |
| 2.10 | % |
| (0.06 | %) |
| 170.88 | % |
|
| 4/1/2005 - 3/31/2006 (4) |
| 13.11 | % |
|
| 23,992 |
| 1.80 | % |
| 2.44 | % |
| (0.16 | %) |
| 112.93 | % |
|
| 12/31/2004 - 3/31/2005 (4) |
| (1.00 | %) |
|
| 25,454 |
| 1.80 | % |
| 3.20 | % |
| (0.42 | %) |
| 16.26 | % |
|
Class B: | 4/1/2006 - 9/30/2006 (4),(5) |
| 2.66 | % |
| $ | 74 |
| 2.26 | % |
| 2.60 | % |
| (0.56 | %) |
| 170.88 | % |
|
| 4/1/2005 - 3/31/2006 (4) |
| 12.53 | % |
|
| 64 |
| 2.30 | % |
| 2.94 | % |
| (0.66 | %) |
| 112.93 | % |
|
| 12/31/2004 - 3/31/2005 (4) |
| (1.10 | %) |
|
| 33 |
| 2.30 | % |
| 3.70 | % |
| (0.92 | %) |
| 16.26 | % |
|
Class C: | 4/1/2006 - 9/30/2006 (4),(5) |
| 2.66 | % |
| $ | 163 |
| 2.26 | % |
| 2.60 | % |
| (0.56 | %) |
| 170.88 | % |
|
| 4/1/2005 - 3/31/2006 (4) |
| 12.50 | % |
|
| 128 |
| 2.30 | % |
| 2.94 | % |
| (0.66 | %) |
| 112.93 | % |
|
| 12/31/2004 - 3/31/2005 (4) |
| (1.10 | %) |
|
| 73 |
| 2.30 | % |
| 3.70 | % |
| (0.92 | %) |
| 16.26 | % |
|
PF Loomis Sayles Large-Cap Growth Fund (8) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||
Class A: | 4/1/2006 - 9/30/2006 (4),(5) |
| (9.41 | %) |
| $ | 22,548 |
| 1.87 | % |
| 2.54 | % |
| (0.89 | %) |
| 91.95 | % |
|
| 4/1/2005 - 3/31/2006 (4) |
| 7.00 | % |
|
| 19,366 |
| 1.90 | % |
| 2.58 | % |
| (0.62 | %) |
| 160.96 | % |
|
| 4/1/2004 - 3/31/2005 (4) |
| (0.49 | %) |
|
| 45,147 |
| 1.90 | % |
| 2.37 | % |
| (0.08 | %) |
| 38.40 | % |
|
| 4/1/2003 - 3/31/2004 (4) |
| 26.58 | % |
|
| 23,408 |
| 1.90 | % |
| 3.12 | % |
| (0.69 | %) |
| 78.30 | % |
|
| 4/1/2002 - 3/31/2003 (4) |
| (26.55 | %) |
|
| 7,922 |
| 1.90 | % |
| 3.94 | % |
| (0.67 | %) |
| 35.58 | % |
|
| 9/28/2001 - 3/31/2002 (4) |
| 10.09 | % |
|
| 10,867 |
| 1.90 | % |
| 5.99 | % |
| (0.92 | %) |
| 12.63 | % |
|
Class B: | 4/1/2006 - 9/30/2006 (4),(5) |
| (9.63 | %) |
| $ | 490 |
| 2.37 | % |
| 3.04 | % |
| (1.39 | %) |
| 91.95 | % |
|
| 4/1/2005 - 3/31/2006 (4) |
| 6.41 | % |
|
| 594 |
| 2.40 | % |
| 3.08 | % |
| (1.12 | %) |
| 160.96 | % |
|
| 4/1/2004 - 3/31/2005 (4) |
| (0.89 | %) |
|
| 526 |
| 2.40 | % |
| 2.87 | % |
| (0.58 | %) |
| 38.40 | % |
|
| 4/1/2003 - 3/31/2004 (4) |
| 26.19 | % |
|
| 497 |
| 2.40 | % |
| 3.62 | % |
| (1.19 | %) |
| 78.30 | % |
|
| 4/1/2002 - 3/31/2003 (4) |
| (27.06 | %) |
|
| 757 |
| 2.40 | % |
| 4.44 | % |
| (1.17 | %) |
| 35.58 | % |
|
| 9/28/2001 - 3/31/2002 (4) |
| 9.79 | % |
|
| 43 |
| 2.40 | % |
| 6.49 | % |
| (1.42 | %) |
| 12.63 | % |
|
Class C: | 4/1/2006 - 9/30/2006 (4),(5) |
| (9.65 | %) |
| $ | 898 |
| 2.37 | % |
| 3.04 | % |
| (1.39 | %) |
| 91.95 | % |
|
| 4/1/2005 - 3/31/2006 (4) |
| 6.32 | % |
|
| 1,654 |
| 2.40 | % |
| 3.08 | % |
| (1.12 | %) |
| 160.96 | % |
|
| 4/1/2004 - 3/31/2005 (4) |
| (0.89 | %) |
|
| 1,367 |
| 2.40 | % |
| 2.87 | % |
| (0.58 | %) |
| 38.40 | % |
|
| 4/1/2003 - 3/31/2004 (4) |
| 26.07 | % |
|
| 1,090 |
| 2.40 | % |
| 3.62 | % |
| (1.19 | %) |
| 78.30 | % |
|
| 4/1/2002 - 3/31/2003 (4) |
| (26.99 | %) |
|
| 1,467 |
| 2.40 | % |
| 4.44 | % |
| (1.17 | %) |
| 35.58 | % |
|
| 9/28/2001 - 3/31/2002 (4) |
| 9.74 | % |
|
| 154 |
| 2.40 | % |
| 6.49 | % |
| (1.42 | %) |
| 12.63 | % |
|
|
|
See Notes to Financial Statements | See explanation of references on C-11 |
| |
C-5 |
|
PACIFIC FUNDS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
| Investment Activities |
| |||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
|
|
|
| Net Asset |
| Net |
| Net Realized |
| Total from |
| |||||||||
PF MFS International Large-Cap Fund (9) |
|
|
|
|
|
|
|
|
|
|
| |||||||||
Class A: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| $ | 15.45 |
|
| $ | 0.33 |
|
| $ | 0.65 |
|
| $ | 0.98 |
|
| |
|
| 4/1/2005 - 3/31/2006 (4) |
|
| 12.83 |
|
|
| — | (6) |
|
| 2.89 |
|
|
| 2.89 |
|
| |
|
| 4/1/2004 - 3/31/2005 (4) |
|
| 11.61 |
|
|
| (0.01 | ) |
|
| 1.46 |
|
|
| 1.45 |
|
| |
|
| 4/1/2003 - 3/31/2004 (4) |
|
| 8.20 |
|
|
| (0.04 | ) |
|
| 3.45 |
|
|
| 3.41 |
|
| |
|
| 4/1/2002 - 3/31/2003 (4) |
|
| 11.03 |
|
|
| (0.04 | ) |
|
| (2.59 | ) |
|
| (2.63 | ) |
| |
|
| 9/28/2001 - 3/31/2002 (4) |
|
| 10.00 |
|
|
| (0.05 | ) |
|
| 1.10 |
|
|
| 1.05 |
|
| |
Class B: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| $ | 15.15 |
|
| $ | 0.29 |
|
| $ | 0.62 |
|
| $ | 0.91 |
|
| |
|
| 4/1/2005 - 3/31/2006 (4) |
|
| 12.60 |
|
|
| (0.07 | ) |
|
| 2.85 |
|
|
| 2.78 |
|
| |
|
| 4/1/2004 - 3/31/2005 (4) |
|
| 11.46 |
|
|
| (0.07 | ) |
|
| 1.44 |
|
|
| 1.37 |
|
| |
|
| 4/1/2003 - 3/31/2004 (4) |
|
| 8.14 |
|
|
| (0.09 | ) |
|
| 3.41 |
|
|
| 3.32 |
|
| |
|
| 4/1/2002 - 3/31/2003 (4) |
|
| 11.01 |
|
|
| (0.08 | ) |
|
| (2.59 | ) |
|
| (2.67 | ) |
| |
|
| 9/28/2001 - 3/31/2002 (4) |
|
| 10.00 |
|
|
| (0.08 | ) |
|
| 1.10 |
|
|
| 1.02 |
|
| |
Class C: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| $ | 15.16 |
|
| $ | 0.29 |
|
| $ | 0.63 |
|
| $ | 0.92 |
|
| |
|
| 4/1/2005 - 3/31/2006 (4) |
|
| 12.62 |
|
|
| (0.07 | ) |
|
| 2.84 |
|
|
| 2.77 |
|
| |
|
| 4/1/2004 - 3/31/2005 (4) |
|
| 11.48 |
|
|
| (0.07 | ) |
|
| 1.44 |
|
|
| 1.37 |
|
| |
|
| 4/1/2003 - 3/31/2004 (4) |
|
| 8.14 |
|
|
| (0.09 | ) |
|
| 3.43 |
|
|
| 3.34 |
|
| |
|
| 4/1/2002 - 3/31/2003 (4) |
|
| 11.01 |
|
|
| (0.08 | ) |
|
| (2.59 | ) |
|
| (2.67 | ) |
| |
|
| 9/28/2001 - 3/31/2002 (4) |
|
| 10.00 |
|
|
| (0.08 | ) |
|
| 1.10 |
|
|
| 1.02 |
|
| |
PF NB Fasciano Small Equity Fund (10) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||
Class A: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| $ | 11.22 |
|
|
| ($0.04 | ) |
|
| ($0.88 | ) |
|
| ($0.92 | ) |
| |
|
| 4/1/2005 - 3/31/2006 (4) |
|
| 11.78 |
|
|
| (0.10 | ) |
|
| 1.62 |
|
|
| 1.52 |
|
| |
|
| 4/1/2004 - 3/31/2005 (4) |
|
| 11.53 |
|
|
| (0.16 | ) |
|
| 0.69 |
|
|
| 0.53 |
|
| |
|
| 4/1/2003 - 3/31/2004 (4) |
|
| 8.59 |
|
|
| (0.15 | ) |
|
| 3.09 |
|
|
| 2.94 |
|
| |
|
| 4/1/2002 - 3/31/2003 (4) |
|
| 11.63 |
|
|
| (0.16 | ) |
|
| (2.88 | ) |
|
| (3.04 | ) |
| |
|
| 9/28/2001 - 3/31/2002 (4) |
|
| 10.00 |
|
|
| (0.09 | ) |
|
| 1.81 |
|
|
| 1.72 |
|
| |
Class B: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| $ | 10.95 |
|
|
| ($0.07 | ) |
|
| ($0.86 | ) |
|
| ($0.93 | ) |
| |
|
| 4/1/2005 - 3/31/2006 (4) |
|
| 11.59 |
|
|
| (0.16 | ) |
|
| 1.60 |
|
|
| 1.44 |
|
| |
|
| 4/1/2004 - 3/31/2005 (4) |
|
| 11.41 |
|
|
| (0.21 | ) |
|
| 0.67 |
|
|
| 0.46 |
|
| |
|
| 4/1/2003 - 3/31/2004 (4) |
|
| 8.53 |
|
|
| (0.22 | ) |
|
| 3.10 |
|
|
| 2.88 |
|
| |
|
| 4/1/2002 - 3/31/2003 (4) |
|
| 11.61 |
|
|
| (0.19 | ) |
|
| (2.89 | ) |
|
| (3.08 | ) |
| |
|
| 9/28/2001 - 3/31/2002 (4) |
|
| 10.00 |
|
|
| (0.12 | ) |
|
| 1.80 |
|
|
| 1.68 |
|
| |
Class C: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| $ | 10.96 |
|
|
| ($0.07 | ) |
|
| ($0.85 | ) |
|
| ($0.92 | ) |
| |
|
| 4/1/2005 - 3/31/2006 (4) |
|
| 11.61 |
|
|
| (0.16 | ) |
|
| 1.59 |
|
|
| 1.43 |
|
| |
|
| 4/1/2004 - 3/31/2005 (4) |
|
| 11.42 |
|
|
| (0.21 | ) |
|
| 0.68 |
|
|
| 0.47 |
|
| |
|
| 4/1/2003 - 3/31/2004 (4) |
|
| 8.55 |
|
|
| (0.23 | ) |
|
| 3.10 |
|
|
| 2.87 |
|
| |
|
| 4/1/2002 - 3/31/2003 (4) |
|
| 11.61 |
|
|
| (0.19 | ) |
|
| (2.87 | ) |
|
| (3.06 | ) |
| |
|
| 9/28/2001 - 3/31/2002 (4) |
|
| 10.00 |
|
|
| (0.12 | ) |
|
| 1.81 |
|
|
| 1.69 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Distributions |
|
|
| ||||||||||||||
|
|
|
|
|
| ||||||||||||||
|
| Dividends |
| Distributions |
| Total |
| Net Asset |
| ||||||||||
PF MFS International Large-Cap Fund (9) |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Class A: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| $ | — |
|
|
| ($0.48 | ) |
|
| ($0.48 | ) |
| $ | 15.95 |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| (0.04 | ) |
|
| (0.23 | ) |
|
| (0.27 | ) |
|
| 15.45 |
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| — |
|
|
| (0.23 | ) |
|
| (0.23 | ) |
|
| 12.83 |
|
|
|
| 4/1/2003 - 3/31/2004 (4) |
|
| — |
|
|
| — |
|
|
| — |
|
|
| 11.61 |
|
|
|
| 4/1/2002 - 3/31/2003 (4) |
|
| — |
|
|
| (0.20 | ) |
|
| (0.20 | ) |
|
| 8.20 |
|
|
|
| 9/28/2001 - 3/31/2002 (4) |
|
| (0.01 | ) |
|
| (0.01 | ) |
|
| (0.02 | ) |
|
| 11.03 |
|
|
Class B: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| $ | — |
|
|
| ($0.48 | ) |
|
| ($0.48 | ) |
| $ | 15.58 |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| — |
|
|
| (0.23 | ) |
|
| (0.23 | ) |
|
| 15.15 |
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| — |
|
|
| (0.23 | ) |
|
| (0.23 | ) |
|
| 12.60 |
|
|
|
| 4/1/2003 - 3/31/2004 (4) |
|
| — |
|
|
| — |
|
|
| — |
|
|
| 11.46 |
|
|
|
| 4/1/2002 - 3/31/2003 (4) |
|
| — |
|
|
| (0.20 | ) |
|
| (0.20 | ) |
|
| 8.14 |
|
|
|
| 9/28/2001 - 3/31/2002 (4) |
|
| — |
|
|
| (0.01 | ) |
|
| (0.01 | ) |
|
| 11.01 |
|
|
Class C: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| $ | — |
|
|
| ($0.48 | ) |
|
| ($0.48 | ) |
| $ | 15.60 |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| — |
|
|
| (0.23 | ) |
|
| (0.23 | ) |
|
| 15.16 |
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| — |
|
|
| (0.23 | ) |
|
| (0.23 | ) |
|
| 12.62 |
|
|
|
| 4/1/2003 - 3/31/2004 (4) |
|
| — |
|
|
| — |
|
|
| — |
|
|
| 11.48 |
|
|
|
| 4/1/2002 - 3/31/2003 (4) |
|
| — |
|
|
| (0.20 | ) |
|
| (0.20 | ) |
|
| 8.14 |
|
|
|
| 9/28/2001 - 3/31/2002 (4) |
|
| — |
|
|
| (0.01 | ) |
|
| (0.01 | ) |
|
| 11.01 |
|
|
PF NB Fasciano Small Equity Fund (10) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||
Class A: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| $ | — |
|
|
| ($0.01 | ) |
|
| ($0.01 | ) |
| $ | 10.29 |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| — |
|
|
| (2.08 | ) |
|
| (2.08 | ) |
|
| 11.22 |
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| — |
|
|
| (0.28 | ) |
|
| (0.28 | ) |
|
| 11.78 |
|
|
|
| 4/1/2003 - 3/31/2004 (4) |
|
| — |
|
|
| — |
|
|
| — |
|
|
| 11.53 |
|
|
|
| 4/1/2002 - 3/31/2003 (4) |
|
| — |
|
|
| — |
|
|
| — |
|
|
| 8.59 |
|
|
|
| 9/28/2001 - 3/31/2002 (4) |
|
| (0.02 | ) |
|
| (0.07 | ) |
|
| (0.09 | ) |
|
| 11.63 |
|
|
Class B: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| $ | — |
|
|
| ($0.01 | ) |
|
| ($0.01 | ) |
| $ | 10.01 |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| — |
|
|
| (2.08 | ) |
|
| (2.08 | ) |
|
| 10.95 |
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| — |
|
|
| (0.28 | ) |
|
| (0.28 | ) |
|
| 11.59 |
|
|
|
| 4/1/2003 - 3/31/2004 (4) |
|
| — |
|
|
| — |
|
|
| — |
|
|
| 11.41 |
|
|
|
| 4/1/2002 - 3/31/2003 (4) |
|
| — |
|
|
| — |
|
|
| — |
|
|
| 8.53 |
|
|
|
| 9/28/2001 - 3/31/2002 (4) |
|
| — |
|
|
| (0.07 | ) |
|
| (0.07 | ) |
|
| 11.61 |
|
|
Class C: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| $ | — |
|
|
| ($0.01 | ) |
|
| ($0.01 | ) |
| $ | 10.03 |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| — |
|
|
| (2.08 | ) |
|
| (2.08 | ) |
|
| 10.96 |
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| — |
|
|
| (0.28 | ) |
|
| (0.28 | ) |
|
| 11.61 |
|
|
|
| 4/1/2003 - 3/31/2004 (4) |
|
| — |
|
|
| — |
|
|
| — |
|
|
| 11.42 |
|
|
|
| 4/1/2002 - 3/31/2003 (4) |
|
| — |
|
|
| — |
|
|
| — |
|
|
| 8.55 |
|
|
|
| 9/28/2001 - 3/31/2002 (4) |
|
| (0.01 | ) |
|
| (0.07 | ) |
|
| (0.08 | ) |
|
| 11.61 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Ratios/Supplemental Data |
| |||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||
|
| Total |
| Net |
| Ratios of |
| Ratios of |
| Ratios of Net |
| Portfolio |
| |||||||||
PF MFS International Large-Cap Fund (9) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||
Class A: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| 6.53 | % |
| $ | 56,158 |
|
| 1.98 | % |
| 2.55 | % |
| 4.29 | % |
| 30.57 | % |
|
|
| 4/1/2005 - 3/31/2006 (4) |
| 22.72 | % |
|
| 52,728 |
|
| 2.00 | % |
| 2.79 | % |
| (0.03 | %) |
| 63.12 | % |
|
|
| 4/1/2004 - 3/31/2005 (4) |
| 12.73 | % |
|
| 38,195 |
|
| 2.00 | % |
| 3.35 | % |
| (0.12 | %) |
| 55.12 | % |
|
|
| 4/1/2003 - 3/31/2004 (4) |
| 41.59 | % |
|
| 15,358 |
|
| 2.03 | % |
| 5.96 | % |
| (0.38 | %) |
| 150.05 | % |
|
|
| 4/1/2002 - 3/31/2003 (4) |
| (24.11 | %) |
|
| 4,505 |
|
| 2.05 | % |
| 9.08 | % |
| (0.40 | %) |
| 137.37 | % |
|
|
| 9/28/2001 - 3/31/2002 (4) |
| 10.54 | % |
|
| 6,808 |
|
| 2.05 | % |
| 9.38 | % |
| (0.92 | %) |
| 77.66 | % |
|
Class B: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| 6.26 | % |
| $ | 527 |
|
| 2.48 | % |
| 3.05 | % |
| 3.79 | % |
| 30.57 | % |
|
|
| 4/1/2005 - 3/31/2006 (4) |
| 22.16 | % |
|
| 436 |
|
| 2.50 | % |
| 3.29 | % |
| (0.53 | %) |
| 63.12 | % |
|
|
| 4/1/2004 - 3/31/2005 (4) |
| 12.18 | % |
|
| 391 |
|
| 2.50 | % |
| 3.85 | % |
| (0.62 | %) |
| 55.12 | % |
|
|
| 4/1/2003 - 3/31/2004 (4) |
| 40.79 | % |
|
| 265 |
|
| 2.53 | % |
| 6.46 | % |
| (0.88 | %) |
| 150.05 | % |
|
|
| 4/1/2002 - 3/31/2003 (4) |
| (24.52 | %) |
|
| 58 |
|
| 2.55 | % |
| 9.58 | % |
| (0.90 | %) |
| 137.37 | % |
|
|
| 9/28/2001 - 3/31/2002 (4) |
| 10.24 | % |
|
| 22 |
|
| 2.55 | % |
| 9.88 | % |
| (1.42 | %) |
| 77.66 | % |
|
Class C: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| 6.25 | % |
| $ | 1,134 |
|
| 2.48 | % |
| 3.05 | % |
| 3.79 | % |
| 30.57 | % |
|
|
| 4/1/2005 - 3/31/2006 (4) |
| 22.12 | % |
|
| 897 |
|
| 2.50 | % |
| 3.29 | % |
| (0.53 | %) |
| 63.12 | % |
|
|
| 4/1/2004 - 3/31/2005 (4) |
| 12.16 | % |
|
| 593 |
|
| 2.50 | % |
| 3.85 | % |
| (0.62 | %) |
| 55.12 | % |
|
|
| 4/1/2003 - 3/31/2004 (4) |
| 40.86 | % |
|
| 222 |
|
| 2.53 | % |
| 6.46 | % |
| (0.88 | %) |
| 150.05 | % |
|
|
| 4/1/2002 - 3/31/2003 (4) |
| (24.43 | %) |
|
| 79 |
|
| 2.55 | % |
| 9.58 | % |
| (0.90 | %) |
| 137.37 | % |
|
|
| 9/28/2001 - 3/31/2002 (4) |
| 10.24 | % |
|
| 11 |
|
| 2.55 | % |
| 9.88 | % |
| (1.42 | %) |
| 77.66 | % |
|
PF NB Fasciano Small Equity Fund (10) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||
Class A: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| (8.19 | %) |
| $ | 29,916 |
|
| 1.92 | % |
| 2.29 | % |
| (0.81 | %) |
| 26.14 | % |
|
|
| 4/1/2005 - 3/31/2006 (4) |
| 15.01 | % |
|
| 24,218 |
|
| 1.95 | % |
| 2.95 | % |
| (0.99 | %) |
| 132.27 | % |
|
|
| 4/1/2004 - 3/31/2005 (4) |
| 4.54 | % |
|
| 7,116 |
|
| 1.95 | % |
| 3.38 | % |
| (1.36 | %) |
| 201.57 | % |
|
|
| 4/1/2003 - 3/31/2004 (4) |
| 34.23 | % |
|
| 8,469 |
|
| 1.95 | % |
| 3.55 | % |
| (1.61 | %) |
| 110.77 | % |
|
|
| 4/1/2002 - 3/31/2003 (4) |
| (26.14 | %) |
|
| 5,031 |
|
| 1.95 | % |
| 4.27 | % |
| (1.66 | %) |
| 71.87 | % |
|
|
| 9/28/2001 - 3/31/2002 (4) |
| 17.21 | % |
|
| 7,654 |
|
| 1.95 | % |
| 6.84 | % |
| (1.67 | %) |
| 44.75 | % |
|
Class B: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| (8.49 | %) |
| $ | 368 |
|
| 2.42 | % |
| 2.79 | % |
| (1.31 | %) |
| 26.14 | % |
|
|
| 4/1/2005 - 3/31/2006 (4) |
| 14.49 | % |
|
| 425 |
|
| 2.45 | % |
| 3.45 | % |
| (1.49 | %) |
| 132.27 | % |
|
|
| 4/1/2004 - 3/31/2005 (4) |
| 3.97 | % |
|
| 283 |
|
| 2.45 | % |
| 3.88 | % |
| (1.86 | %) |
| 201.57 | % |
|
|
| 4/1/2003 - 3/31/2004 (4) |
| 33.61 | % |
|
| 267 |
|
| 2.45 | % |
| 4.05 | % |
| (2.11 | %) |
| 110.77 | % |
|
|
| 4/1/2002 - 3/31/2003 (4) |
| (26.44 | %) |
|
| 63 |
|
| 2.45 | % |
| 4.77 | % |
| (2.16 | %) |
| 71.87 | % |
|
|
| 9/28/2001 - 3/31/2002 (4) |
| 16.84 | % |
|
| 12 |
|
| 2.45 | % |
| 7.34 | % |
| (2.17 | %) |
| 44.75 | % |
|
Class C: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| (8.39 | %) |
| $ | 546 |
|
| 2.42 | % |
| 2.79 | % |
| (1.31 | %) |
| 26.14 | % |
|
|
| 4/1/2005 - 3/31/2006 (4) |
| 14.38 | % |
|
| 539 |
|
| 2.45 | % |
| 3.45 | % |
| (1.49 | %) |
| 132.27 | % |
|
|
| 4/1/2004 - 3/31/2005 (4) |
| 4.06 | % |
|
| 585 |
|
| 2.45 | % |
| 3.88 | % |
| (1.86 | %) |
| 201.57 | % |
|
|
| 4/1/2003 - 3/31/2004 (4) |
| 33.57 | % |
|
| 360 |
|
| 2.45 | % |
| 4.05 | % |
| (2.11 | %) |
| 110.77 | % |
|
|
| 4/1/2002 - 3/31/2003 (4) |
| (26.36 | %) |
|
| 115 |
|
| 2.45 | % |
| 4.77 | % |
| (2.16 | %) |
| 71.87 | % |
|
|
| 9/28/2001 - 3/31/2002 (4) |
| 16.91 | % |
|
| 25 |
|
| 2.45 | % |
| 7.34 | % |
| (2.17 | %) |
| 44.75 | % |
|
|
|
See Notes to Financial Statements | See explanation of references on C-11 |
C-6
PACIFIC FUNDS
FINANCIAL HIGHLIGHTS (Continued)
Selected per share, ratios and supplemental data for each year or period ended were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment Activities |
| ||||||||||||
| |||||||||||||||||||
|
|
|
| Net Asset |
| Net |
| Net Realized |
| Total from |
| ||||||||
PF Oppenheimer Main Street Core Fund |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Class A: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| $ | 10.67 |
|
| $ | 0.02 |
|
| $ | 0.23 |
|
| $ | 0.25 |
|
|
|
| 9/30/2005 - 3/31/2006 |
|
| 10.00 |
|
|
| 0.01 |
|
|
| 0.67 |
|
|
| 0.68 |
|
|
PF Oppenheimer Emerging Markets Fund |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||
Class A: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| $ | 12.00 |
|
| $ | 0.04 |
|
|
| ($0.51 | ) |
|
| ($0.47 | ) |
|
|
| 9/30/2005 - 3/31/2006 |
|
| 10.00 |
|
|
| 0.08 |
|
|
| 2.00 |
|
|
| 2.08 |
|
|
PF PIMCO Managed Bond Fund |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||
Class A: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| $ | 9.98 |
|
| $ | 0.16 |
|
| $ | 0.17 |
|
| $ | 0.33 |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| 10.03 |
|
|
| 0.29 |
|
|
| (0.07 | ) |
|
| 0.22 |
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| 10.45 |
|
|
| 0.14 |
|
|
| (0.09 | ) |
|
| 0.05 |
|
|
|
| 4/1/2003 - 3/31/2004 (4) |
|
| 10.16 |
|
|
| 0.17 |
|
|
| 0.46 |
|
|
| 0.63 |
|
|
|
| 4/1/2002 - 3/31/2003 (4) |
|
| 9.85 |
|
|
| 0.21 |
|
|
| 1.02 |
|
|
| 1.23 |
|
|
|
| 9/28/2001 - 3/31/2002 |
|
| 10.00 |
|
|
| 0.06 |
|
|
| (0.09 | ) |
|
| (0.03 | ) |
|
Class B: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| $ | 9.96 |
|
| $ | 0.14 |
|
| $ | 0.16 |
|
| $ | 0.30 |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| 10.01 |
|
|
| 0.24 |
|
|
| (0.07 | ) |
|
| 0.17 |
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| 10.44 |
|
|
| 0.09 |
|
|
| (0.10 | ) |
|
| (0.01 | ) |
|
|
| 4/1/2003 - 3/31/2004 (4) |
|
| 10.14 |
|
|
| 0.12 |
|
|
| 0.46 |
|
|
| 0.58 |
|
|
|
| 4/1/2002 - 3/31/2003 (4) |
|
| 9.84 |
|
|
| 0.15 |
|
|
| 1.03 |
|
|
| 1.18 |
|
|
|
| 9/28/2001 - 3/31/2002 |
|
| 10.00 |
|
|
| 0.04 |
|
|
| (0.10 | ) |
|
| (0.06 | ) |
|
Class C: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| $ | 9.98 |
|
| $ | 0.14 |
|
| $ | 0.16 |
|
| $ | 0.30 |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| 10.02 |
|
|
| 0.24 |
|
|
| (0.06 | ) |
|
| 0.18 |
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| 10.44 |
|
|
| 0.09 |
|
|
| (0.09 | ) |
|
| — |
|
|
|
| 4/1/2003 - 3/31/2004 (4) |
|
| 10.14 |
|
|
| 0.12 |
|
|
| 0.46 |
|
|
| 0.58 |
|
|
|
| 4/1/2002 - 3/31/2003 (4) |
|
| 9.84 |
|
|
| 0.15 |
|
|
| 1.03 |
|
|
| 1.18 |
|
|
|
| 9/28/2001 - 3/31/2002 |
|
| 10.00 |
|
|
| 0.04 |
|
|
| (0.10 | ) |
|
| (0.06 | ) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Distributions |
|
|
| ||||||||||||
| |||||||||||||||||||
|
|
|
| Dividends |
| Distributions |
| Total |
| Net Asset |
| ||||||||
PF Oppenheimer Main Street Core Fund |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Class A: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| $ | — | (6) |
|
| ($0.10 | ) |
|
| ($0.10 | ) |
| $ | 10.82 |
|
|
|
| 9/30/2005 - 3/31/2006 |
|
| (0.01 | ) |
|
| — |
|
|
| (0.01 | ) |
|
| 10.67 |
|
|
PF Oppenheimer Emerging Markets Fund |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||
Class A: |
| 4/1/2006 - 9/30/2006 (4),(5) |
|
| ($0.05 | ) |
|
| ($0.40 | ) |
|
| ($0.45 | ) |
| $ | 11.08 |
|
|
|
| 9/30/2005 - 3/31/2006 |
|
| (0.08 | ) |
|
| — | (6) |
|
| (0.08 | ) |
|
| 12.00 |
|
|
PF PIMCO Managed Bond Fund |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||
Class A: |
| 4/1/2006 - 9/30/2006 (4),(5) |
|
| ($0.18 | ) |
| $ | — |
|
|
| ($0.18 | ) |
| $ | 10.13 |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| (0.27 | ) |
|
| — |
|
|
| (0.27 | ) |
|
| 9.98 |
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| (0.25 | ) |
|
| (0.22 | ) |
|
| (0.47 | ) |
|
| 10.03 |
|
|
|
| 4/1/2003 - 3/31/2004 (4) |
|
| (0.34 | ) |
|
| — |
|
|
| (0.34 | ) |
|
| 10.45 |
|
|
|
| 4/1/2002 - 3/31/2003 (4) |
|
| (0.36 | ) |
|
| (0.56 | ) |
|
| (0.92 | ) |
|
| 10.16 |
|
|
|
| 9/28/2001 - 3/31/2002 |
|
| (0.07 | ) |
|
| (0.05 | ) |
|
| (0.12 | ) |
|
| 9.85 |
|
|
Class B: |
| 4/1/2006 - 9/30/2006 (4),(5) |
|
| ($0.15 | ) |
| $ | — |
|
|
| ($0.15 | ) |
| $ | 10.11 |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| (0.22 | ) |
|
| — |
|
|
| (0.22 | ) |
|
| 9.96 |
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| (0.20 | ) |
|
| (0.22 | ) |
|
| (0.42 | ) |
|
| 10.01 |
|
|
|
| 4/1/2003 - 3/31/2004 (4) |
|
| (0.28 | ) |
|
| — |
|
|
| (0.28 | ) |
|
| 10.44 |
|
|
|
| 4/1/2002 - 3/31/2003 (4) |
|
| (0.32 | ) |
|
| (0.56 | ) |
|
| (0.88 | ) |
|
| 10.14 |
|
|
|
| 9/28/2001 - 3/31/2002 |
|
| (0.05 | ) |
|
| (0.05 | ) |
|
| (0.10 | ) |
|
| 9.84 |
|
|
Class C: |
| 4/1/2006 - 9/30/2006 (4),(5) |
|
| ($0.16 | ) |
| $ | — |
|
|
| ($0.16 | ) |
| $ | 10.12 |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| (0.22 | ) |
|
| — |
|
|
| (0.22 | ) |
|
| 9.98 |
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| (0.20 | ) |
|
| (0.22 | ) |
|
| (0.42 | ) |
|
| 10.02 |
|
|
|
| 4/1/2003 - 3/31/2004 (4) |
|
| (0.28 | ) |
|
| — |
|
|
| (0.28 | ) |
|
| 10.44 |
|
|
|
| 4/1/2002 - 3/31/2003 (4) |
|
| (0.32 | ) |
|
| (0.56 | ) |
|
| (0.88 | ) |
|
| 10.14 |
|
|
|
| 9/28/2001 - 3/31/2002 |
|
| (0.05 | ) |
|
| (0.05 | ) |
|
| (0.10 | ) |
|
| 9.84 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Ratios/Supplemental Data |
| ||||||||||||||||||||||
| |||||||||||||||||||||||||||
|
|
|
| Total |
| Net |
| Ratios |
| Ratios |
| Ratios |
| Portfolio |
| ||||||||||||
PF Oppenheimer Main Street Core Fund |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
Class A: |
| 4/1/2006 - 9/30/2006 (4),(5) |
|
| 2.39 | % |
| $ | 64,834 |
|
|
| 1.57 | % |
|
| 1.94 | % |
|
| 0.31 | % |
|
| 44.54 | % |
|
|
| 9/30/2005 - 3/31/2006 |
|
| 6.85 | % |
|
| 53,930 |
|
|
| 1.60 | % |
|
| 2.00 | % |
|
| 0.29 | % |
|
| 42.30 | % |
|
PF Oppenheimer Emerging Markets Fund |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||
Class A: |
| 4/1/2006 - 9/30/2006 (4),(5) |
|
| (3.65 | %) |
| $ | 38,306 |
|
|
| 1.92 | % |
|
| 4.04 | % |
|
| 0.78 | % |
|
| 36.63 | % |
|
|
| 9/30/2005 - 3/31/2006 |
|
| 20.94 | % |
|
| 33,476 |
|
|
| 1.95 | % |
|
| 5.53 | % |
|
| 1.88 | % |
|
| 41.88 | % |
|
PF PIMCO Managed Bond Fund |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||
Class A: |
| 4/1/2006 - 9/30/2006 (4),(5) |
|
| 3.35 | % |
| $ | 80,632 |
|
|
| 1.52 | % |
|
| 1.88 | % |
|
| 3.31 | % |
|
| 172.58 | % |
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| 2.19 | % |
|
| 68,825 |
|
|
| 1.55 | % |
|
| 2.00 | % |
|
| 2.84 | % |
|
| 534.38 | % |
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| 0.56 | % |
|
| 42,546 |
|
|
| 1.55 | % |
|
| 2.22 | % |
|
| 1.37 | % |
|
| 323.24 | % |
|
|
| 4/1/2003 - 3/31/2004 (4) |
|
| 6.28 | % |
|
| 19,802 |
|
|
| 1.55 | % |
|
| 2.86 | % |
|
| 1.65 | % |
|
| 459.70 | % |
|
|
| 4/1/2002 - 3/31/2003 (4) |
|
| 12.80 | % |
|
| 18,236 |
|
|
| 1.55 | % |
|
| 2.82 | % |
|
| 2.02 | % |
|
| 445.26 | % |
|
|
| 9/28/2001 - 3/31/2002 |
|
| (0.28 | %) |
|
| 33,055 |
|
|
| 1.55 | % |
|
| 2.54 | % |
|
| 1.16 | % |
|
| 522.25 | % |
|
Class B: |
| 4/1/2006 - 9/30/2006 (4),(5) |
|
| 3.10 | % |
| $ | 926 |
|
|
| 2.02 | % |
|
| 2.38 | % |
|
| 2.81 | % |
|
| 172.58 | % |
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| 1.67 | % |
|
| 1,049 |
|
|
| 2.05 | % |
|
| 2.50 | % |
|
| 2.34 | % |
|
| 534.38 | % |
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| (0.05 | %) |
|
| 1,135 |
|
|
| 2.05 | % |
|
| 2.72 | % |
|
| 0.87 | % |
|
| 323.24 | % |
|
|
| 4/1/2003 - 3/31/2004 (4) |
|
| 5.86 | % |
|
| 972 |
|
|
| 2.05 | % |
|
| 3.36 | % |
|
| 1.15 | % |
|
| 459.70 | % |
|
|
| 4/1/2002 - 3/31/2003 (4) |
|
| 12.27 | % |
|
| 1,986 |
|
|
| 2.05 | % |
|
| 3.32 | % |
|
| 1.52 | % |
|
| 445.26 | % |
|
|
| 9/28/2001 - 3/31/2002 |
|
| (0.55 | %) |
|
| 173 |
|
|
| 2.05 | % |
|
| 3.04 | % |
|
| 0.66 | % |
|
| 522.25 | % |
|
Class C: |
| 4/1/2006 - 9/30/2006 (4),(5) |
|
| 2.99 | % |
| $ | 2,082 |
|
|
| 2.02 | % |
|
| 2.38 | % |
|
| 2.81 | % |
|
| 172.58 | % |
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| 1.75 | % |
|
| 2,082 |
|
|
| 2.05 | % |
|
| 2.50 | % |
|
| 2.34 | % |
|
| 534.38 | % |
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| 0.04 | % |
|
| 2,353 |
|
|
| 2.05 | % |
|
| 2.72 | % |
|
| 0.87 | % |
|
| 323.24 | % |
|
|
| 4/1/2003 - 3/31/2004 (4) |
|
| 5.86 | % |
|
| 2,315 |
|
|
| 2.05 | % |
|
| 3.36 | % |
|
| 1.15 | % |
|
| 459.70 | % |
|
|
| 4/1/2002 - 3/31/2003 (4) |
|
| 12.28 | % |
|
| 4,573 |
|
|
| 2.05 | % |
|
| 3.32 | % |
|
| 1.52 | % |
|
| 445.26 | % |
|
|
| 9/28/2001 - 3/31/2002 |
|
| (0.57 | %) |
|
| 370 |
|
|
| 2.05 | % |
|
| 3.04 | % |
|
| 0.66 | % |
|
| 522.25 | % |
|
|
|
|
See Notes to Financial Statements |
| See explanation of references on C-11 |
|
|
|
C-7 |
PACIFIC FUNDS
FINANCIAL HIGHLIGHTS (Continued)
Selected per share, ratios and supplemental data for each year or period ended were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment Activities |
| ||||||||||||||
|
|
|
|
|
|
|
|
|
|
| ||||||||
|
|
| Net Asset |
| Net |
| Net |
| Total |
| ||||||||
PF PIMCO Inflation Managed Fund |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
Class A: | 4/1/2006 - 9/30/2006 (4),(5) |
| $ | 10.00 |
|
| $ | 0.24 |
|
| $ | 0.12 |
|
| $ | 0.36 |
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| 10.51 |
|
|
| 0.33 |
|
|
| (0.36 | ) |
|
| (0.03 | ) |
|
| 4/1/2004 - 3/31/2005 (4) |
|
| 10.93 |
|
|
| 0.20 |
|
|
| (0.01 | ) |
|
| 0.19 |
|
|
| 4/1/2003 - 3/31/2004 (4) |
|
| 10.28 |
|
|
| 0.12 |
|
|
| 0.96 |
|
|
| 1.08 |
|
|
| 12/31/2002 - 3/31/2003 (4) |
|
| 10.00 |
|
|
| 0.06 |
|
|
| 0.27 |
|
|
| 0.33 |
|
|
Class B: | 4/1/2006 - 9/30/2006 (4),(5) |
| $ | 9.93 |
|
| $ | 0.22 |
|
| $ | 0.10 |
|
| $ | 0.32 |
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| 10.45 |
|
|
| 0.28 |
|
|
| (0.36 | ) |
|
| (0.08 | ) |
|
| 4/1/2004 - 3/31/2005 (4) |
|
| 10.89 |
|
|
| 0.15 |
|
|
| (0.02 | ) |
|
| 0.13 |
|
|
| 4/1/2003 - 3/31/2004 (4) |
|
| 10.27 |
|
|
| 0.07 |
|
|
| 0.95 |
|
|
| 1.02 |
|
|
| 12/31/2002 - 3/31/2003 (4) |
|
| 10.00 |
|
|
| 0.04 |
|
|
| 0.28 |
|
|
| 0.32 |
|
|
Class C: | 4/1/2006 - 9/30/2006 (4),(5) |
| $ | 9.93 |
|
| $ | 0.22 |
|
| $ | 0.10 |
|
| $ | 0.32 |
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| 10.45 |
|
|
| 0.28 |
|
|
| (0.37 | ) |
|
| (0.09 | ) |
|
| 4/1/2004 - 3/31/2005 (4) |
|
| 10.89 |
|
|
| 0.15 |
|
|
| (0.01 | ) |
|
| 0.14 |
|
|
| 4/1/2003 - 3/31/2004 (4) |
|
| 10.27 |
|
|
| 0.07 |
|
|
| 0.95 |
|
|
| 1.02 |
|
|
| 12/31/2002 - 3/31/2003 (4) |
|
| 10.00 |
|
|
| 0.04 |
|
|
| 0.28 |
|
|
| 0.32 |
|
|
PF Pacific Life Money Market Fund (11) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
Class A: | 4/1/2006 - 9/30/2006 (5) |
| $ | 1.00 |
|
| $ | 0.02 |
|
| $ | — |
|
| $ | 0.02 |
|
|
| 4/1/2005 - 3/31/2006 |
|
| 1.00 |
|
|
| 0.03 |
|
|
| — |
|
|
| 0.03 |
|
|
| 4/1/2004 - 3/31/2005 |
|
| 1.00 |
|
|
| 0.01 |
|
|
| — |
|
|
| 0.01 |
|
|
| 4/1/2003 - 3/31/2004 |
|
| 1.00 |
|
|
| — | (6) |
|
| — |
|
|
| — | (6) |
|
| 4/1/2002 - 3/31/2003 |
|
| 1.00 |
|
|
| 0.01 |
|
|
| — |
|
|
| 0.01 |
|
|
| 9/28/2001 - 3/31/2002 |
|
| 1.00 |
|
|
| — | (6) |
|
| — |
|
|
| — | (6) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Distributions |
| |||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||
|
| Dividends |
| Distributions |
| Total |
| Net Asset |
| |||||||
PF PIMCO Inflation Managed Fund |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
Class A: | 4/1/2006 - 9/30/2006 (4),(5) |
| ($0.20 | ) |
| $ | — |
|
|
| ($0.20 | ) |
| $ | 10.16 |
|
| 4/1/2005 - 3/31/2006 (4) |
| (0.47 | ) |
|
| (0.01 | ) |
|
| (0.48 | ) |
|
| 10.00 |
|
| 4/1/2004 - 3/31/2005 (4) |
| (0.26 | ) |
|
| (0.35 | ) |
|
| (0.61 | ) |
|
| 10.51 |
|
| 4/1/2003 - 3/31/2004 (4) |
| (0.20 | ) |
|
| (0.23 | ) |
|
| (0.43 | ) |
|
| 10.93 |
|
| 12/31/2002 - 3/31/2003 (4) |
| (0.05 | ) |
|
| — |
|
|
| (0.05 | ) |
|
| 10.28 |
|
Class B: | 4/1/2006 - 9/30/2006 (4),(5) |
| ($0.17 | ) |
| $ | — |
|
|
| ($0.17 | ) |
| $ | 10.08 |
|
| 4/1/2005 - 3/31/2006 (4) |
| (0.43 | ) |
|
| (0.01 | ) |
|
| (0.44 | ) |
|
| 9.93 |
|
| 4/1/2004 - 3/31/2005 (4) |
| (0.22 | ) |
|
| (0.35 | ) |
|
| (0.57 | ) |
|
| 10.45 |
|
| 4/1/2003 - 3/31/2004 (4) |
| (0.17 | ) |
|
| (0.23 | ) |
|
| (0.40 | ) |
|
| 10.89 |
|
| 12/31/2002 - 3/31/2003 (4) |
| (0.05 | ) |
|
| — |
|
|
| (0.05 | ) |
|
| 10.27 |
|
Class C: | 4/1/2006 - 9/30/2006 (4),(5) |
| ($0.17 | ) |
| $ | — |
|
|
| ($0.17 | ) |
| $ | 10.08 |
|
| 4/1/2005 - 3/31/2006 (4) |
| (0.42 | ) |
|
| (0.01 | ) |
|
| (0.43 | ) |
|
| 9.93 |
|
| 4/1/2004 - 3/31/2005 (4) |
| (0.23 | ) |
|
| (0.35 | ) |
|
| (0.58 | ) |
|
| 10.45 |
|
| 4/1/2003 - 3/31/2004 (4) |
| (0.17 | ) |
|
| (0.23 | ) |
|
| (0.40 | ) |
|
| 10.89 |
|
| 12/31/2002 - 3/31/2003 (4) |
| (0.05 | ) |
|
| — |
|
|
| (0.05 | ) |
|
| 10.27 |
|
PF Pacific Life Money Market Fund (11) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
Class A: | 4/1/2006 - 9/30/2006 (5) |
| ($0.02 | ) |
| $ | — |
|
|
| ($0.02 | ) |
| $ | 1.00 |
|
| 4/1/2005 - 3/31/2006 |
| (0.03 | ) |
|
| — |
|
|
| (0.03 | ) |
|
| 1.00 |
|
| 4/1/2004 - 3/31/2005 |
| (0.01 | ) |
|
| — |
|
|
| (0.01 | ) |
|
| 1.00 |
|
| 4/1/2003 - 3/31/2004 |
| — | (6) |
|
| — |
|
|
| — | (6) |
|
| 1.00 |
|
| 4/1/2002 - 3/31/2003 |
| (0.01 | ) |
|
| — |
|
|
| (0.01 | ) |
|
| 1.00 |
|
| 9/28/2001 - 3/31/2002 |
| — | (6) |
|
| — |
|
|
| — | (6) |
|
| 1.00 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Ratios/Supplemental Data |
| ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
|
|
| Total |
| Net Assets, |
| Ratios of |
| Ratios of |
| Ratios of Net |
| Portfolio |
| ||||||||
PF PIMCO Inflation Managed Fund |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||
Class A: | 4/1/2006 - 9/30/2006 (4),(5) |
|
| 3.59 | % |
| $ | 63,852 |
|
| 1.52 | % |
| 1.85 | % |
| 4.86 | % |
|
| 226.49 | % |
| 4/1/2005 - 3/31/2006 (4) |
|
| (0.44 | %) |
|
| 66,103 |
|
| 1.55 | % |
| 1.89 | % |
| 3.21 | % |
|
| 188.82 | % |
| 4/1/2004 - 3/31/2005 (4) |
|
| 1.99 | % |
|
| 36,465 |
|
| 1.55 | % |
| 2.04 | % |
| 1.96 | % |
|
| 284.19 | % |
| 4/1/2003 - 3/31/2004 (4) |
|
| 10.75 | % |
|
| 16,263 |
|
| 1.55 | % |
| 2.73 | % |
| 1.13 | % |
|
| 507.96 | % |
| 12/31/2002 - 3/31/2003 (4) |
|
| 3.30 | % |
|
| 6,290 |
|
| 1.55 | % |
| 4.00 | % |
| 2.19 | % |
|
| 199.92 | % |
Class B: | 4/1/2006 - 9/30/2006 (4),(5) |
|
| 3.28 | % |
| $ | 1,143 |
|
| 2.02 | % |
| 2.35 | % |
| 4.36 | % |
|
| 226.49 | % |
| 4/1/2005 - 3/31/2006 (4) |
|
| (0.91 | %) |
|
| 1,402 |
|
| 2.05 | % |
| 2.39 | % |
| 2.71 | % |
|
| 188.82 | % |
| 4/1/2004 - 3/31/2005 (4) |
|
| 1.43 | % |
|
| 1,199 |
|
| 2.05 | % |
| 2.54 | % |
| 1.46 | % |
|
| 284.19 | % |
| 4/1/2003 - 3/31/2004 (4) |
|
| 10.20 | % |
|
| 697 |
|
| 2.05 | % |
| 3.23 | % |
| 0.63 | % |
|
| 507.96 | % |
| 12/31/2002 - 3/31/2003 (4) |
|
| 3.16 | % |
|
| 161 |
|
| 2.05 | % |
| 4.50 | % |
| 1.69 | % |
|
| 199.92 | % |
Class C: | 4/1/2006 - 9/30/2006 (4),(5) |
|
| 3.27 | % |
| $ | 3,781 |
|
| 2.02 | % |
| 2.35 | % |
| 4.36 | % |
|
| 226.49 | % |
| 4/1/2005 - 3/31/2006 (4) |
|
| (0.95 | %) |
|
| 4,142 |
|
| 2.05 | % |
| 2.39 | % |
| 2.71 | % |
|
| 188.82 | % |
| 4/1/2004 - 3/31/2005 (4) |
|
| 1.44 | % |
|
| 5,682 |
|
| 2.05 | % |
| 2.54 | % |
| 1.46 | % |
|
| 284.19 | % |
| 4/1/2003 - 3/31/2004 (4) |
|
| 10.27 | % |
|
| 4,065 |
|
| 2.05 | % |
| 3.23 | % |
| 0.63 | % |
|
| 507.96 | % |
| 12/31/2002 - 3/31/2003 (4) |
|
| 3.11 | % |
|
| 480 |
|
| 2.05 | % |
| 4.50 | % |
| 1.69 | % |
|
| 199.92 | % |
PF Pacific Life Money Market Fund (11) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||
Class A: | 4/1/2006 - 9/30/2006 (5) |
|
| 2.03 | % |
| $ | 15,277 |
|
| 1.08 | % (12) |
| 1.54 | % |
| 3.99 | % |
|
| N/A |
|
| 4/1/2005 - 3/31/2006 |
|
| 2.76 | % |
|
| 19,293 |
|
| 0.94 | % (12) |
| 1.79 | % |
| 2.67 | % |
|
| N/A |
|
| 4/1/2004 - 3/31/2005 |
|
| 0.77 | % |
|
| 22,341 |
|
| 0.95 | % (12) |
| 2.05 | % |
| 0.83 | % |
|
| N/A |
|
| 4/1/2003 - 3/31/2004 |
|
| 0.18 | % |
|
| 14,627 |
|
| 0.95 | % (12) |
| 2.53 | % |
| 0.14 | % |
|
| N/A |
|
| 4/1/2002 - 3/31/2003 |
|
| 0.58 | % |
|
| 13,092 |
|
| 1.08 | % (12) |
| 2.50 | % |
| 0.59 | % |
|
| N/A |
|
| 9/28/2001 - 3/31/2002 |
|
| 0.33 | % |
|
| 27,056 |
|
| 1.35 | % (12) |
| 2.59 | % |
| 0.57 | % |
|
| N/A |
|
|
|
See Notes to Financial Statements | See explanation of references on C-11 |
C-8
|
PACIFIC FUNDS |
FINANCIAL HIGHLIGHTS (Continued) |
Selected per share, ratios and supplemental data for each year or period ended were as follows: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment Activities |
| ||||||||||||
|
|
|
|
|
|
|
| ||||||||||||
|
|
|
| Net Asset |
| Net |
| Net |
| Total |
| ||||||||
PF Salomon Brothers Large-Cap Value Fund |
|
|
|
|
|
|
|
|
|
| |||||||||
Class A: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| $ | 12.67 |
|
| $ | 0.02 |
|
| $ | 0.47 |
|
| $ | 0.49 |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| 11.30 |
|
|
| 0.02 |
|
|
| 1.38 |
|
|
| 1.40 |
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| 10.94 |
|
|
| 0.06 |
|
|
| 0.35 |
|
|
| 0.41 |
|
|
|
| 4/1/2003 - 3/31/2004 (4) |
|
| 7.83 |
|
|
| 0.03 |
|
|
| 3.09 |
|
|
| 3.12 |
|
|
|
| 4/1/2002 - 3/31/2003 (4) |
|
| 10.92 |
|
|
| 0.04 |
|
|
| (3.05 | ) |
|
| (3.01 | ) |
|
|
| 9/28/2001 - 3/31/2002 (4) |
|
| 10.00 |
|
|
| (0.01 | ) |
|
| 0.96 |
|
|
| 0.95 |
|
|
Class B: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| $ | 12.51 |
|
|
| ($0.01 | ) |
| $ | 0.46 |
|
| $ | 0.45 |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| 11.19 |
|
|
| (0.03 | ) |
|
| 1.37 |
|
|
| 1.34 |
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| 10.83 |
|
|
| — | (6) |
|
| 0.36 |
|
|
| 0.36 |
|
|
|
| 4/1/2003 - 3/31/2004 (4) |
|
| 7.78 |
|
|
| (0.02 | ) |
|
| 3.08 |
|
|
| 3.06 |
|
|
|
| 4/1/2002 - 3/31/2003 (4) |
|
| 10.91 |
|
|
| (0.01 | ) |
|
| (3.03 | ) |
|
| (3.04 | ) |
|
|
| 9/28/2001 - 3/31/2002 (4) |
|
| 10.00 |
|
|
| (0.03 | ) |
|
| 0.97 |
|
|
| 0.94 |
|
|
Class C: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| $ | 12.48 |
|
|
| ($0.01 | ) |
| $ | 0.46 |
|
| $ | 0.45 |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| 11.16 |
|
|
| (0.03 | ) |
|
| 1.36 |
|
|
| 1.33 |
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| 10.81 |
|
|
| — | (6) |
|
| 0.35 |
|
|
| 0.35 |
|
|
|
| 4/1/2003 - 3/31/2004 (4) |
|
| 7.77 |
|
|
| (0.02 | ) |
|
| 3.07 |
|
|
| 3.05 |
|
|
|
| 4/1/2002 - 3/31/2003 (4) |
|
| 10.90 |
|
|
| (0.01 | ) |
|
| (3.04 | ) |
|
| (3.05 | ) |
|
|
| 9/28/2001 - 3/31/2002 (4) |
|
| 10.00 |
|
|
| (0.03 | ) |
|
| 0.96 |
|
|
| 0.93 |
|
|
PF Van Kampen Comstock Fund (13) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||
Class A: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| $ | 12.92 |
|
| $ | 0.06 |
|
| $ | 0.68 |
|
| $ | 0.74 |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| 12.58 |
|
|
| 0.10 |
|
|
| 0.83 |
|
|
| 0.93 |
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| 11.37 |
|
|
| 0.07 |
|
|
| 1.19 |
|
|
| 1.26 |
|
|
|
| 4/1/2003 - 3/31/2004 (4) |
|
| 8.16 |
|
|
| 0.02 |
|
|
| 3.19 |
|
|
| 3.21 |
|
|
|
| 4/1/2002 - 3/31/2003 |
|
| 11.45 |
|
|
| (0.11 | ) |
|
| (3.12 | ) |
|
| (3.23 | ) |
|
|
| 9/28/2001 - 3/31/2002 (4) |
|
| 10.00 |
|
|
| (0.05 | ) |
|
| 1.54 |
|
|
| 1.49 |
|
|
Class B: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| $ | 12.75 |
|
| $ | 0.03 |
|
| $ | 0.66 |
|
| $ | 0.69 |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| 12.42 |
|
|
| 0.04 |
|
|
| 0.82 |
|
|
| 0.86 |
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| 11.24 |
|
|
| 0.01 |
|
|
| 1.17 |
|
|
| 1.18 |
|
|
|
| 4/1/2003 - 3/31/2004 (4) |
|
| 8.10 |
|
|
| (0.03 | ) |
|
| 3.17 |
|
|
| 3.14 |
|
|
|
| 4/1/2002 - 3/31/2003 |
|
| 11.43 |
|
|
| (0.11 | ) |
|
| (3.16 | ) |
|
| (3.27 | ) |
|
|
| 9/28/2001 - 3/31/2002 (4) |
|
| 10.00 |
|
|
| (0.07 | ) |
|
| 1.54 |
|
|
| 1.47 |
|
|
Class C: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| $ | 12.72 |
|
| $ | 0.03 |
|
| $ | 0.67 |
|
| $ | 0.70 |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| 12.41 |
|
|
| 0.04 |
|
|
| 0.81 |
|
|
| 0.85 |
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| 11.24 |
|
|
| 0.01 |
|
|
| 1.17 |
|
|
| 1.18 |
|
|
|
| 4/1/2003 - 3/31/2004 (4) |
|
| 8.11 |
|
|
| (0.03 | ) |
|
| 3.16 |
|
|
| 3.13 |
|
|
|
| 4/1/2002 - 3/31/2003 |
|
| 11.43 |
|
|
| (0.11 | ) |
|
| (3.15 | ) |
|
| (3.26 | ) |
|
|
| 9/28/2001 - 3/31/2002 (4) |
|
| 10.00 |
|
|
| (0.07 | ) |
|
| 1.53 |
|
|
| 1.46 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Distributions |
|
|
|
| |||||||||||
|
|
|
|
|
|
|
|
| |||||||||||
|
|
|
| Dividends |
| Distributions |
| Total |
| Net Asset |
| ||||||||
PF Salomon Brothers Large-Cap Value Fund |
|
|
|
|
|
|
|
|
|
|
|
| |||||||
Class A: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| $ | — | (6) |
|
| ($0.82 | ) |
|
| ($0.82 | ) |
| $ | 12.34 |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| (0.03 | ) |
|
| — | (6) |
|
| (0.03 | ) |
|
| 12.67 |
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| (0.05 | ) |
|
| — |
|
|
| (0.05 | ) |
|
| 11.30 |
|
|
|
| 4/1/2003 - 3/31/2004 (4) |
|
| (0.01 | ) |
|
| — |
|
|
| (0.01 | ) |
|
| 10.94 |
|
|
|
| 4/1/2002 - 3/31/2003 (4) |
|
| (0.02 | ) |
|
| (0.06 | ) |
|
| (0.08 | ) |
|
| 7.83 |
|
|
|
| 9/28/2001 - 3/31/2002 (4) |
|
| (0.02 | ) |
|
| (0.01 | ) |
|
| (0.03 | ) |
|
| 10.92 |
|
|
Class B: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| $ | — |
|
|
| ($0.82 | ) |
|
| ($0.82 | ) |
| $ | 12.14 |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| (0.02 | ) |
|
| — | (6) |
|
| (0.02 | ) |
|
| 12.51 |
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| — |
|
|
| — |
|
|
| — |
|
|
| 11.19 |
|
|
|
| 4/1/2003 - 3/31/2004 (4) |
|
| (0.01 | ) |
|
| — |
|
|
| (0.01 | ) |
|
| 10.83 |
|
|
|
| 4/1/2002 - 3/31/2003 (4) |
|
| (0.03 | ) |
|
| (0.06 | ) |
|
| (0.09 | ) |
|
| 7.78 |
|
|
|
| 9/28/2001 - 3/31/2002 (4) |
|
| (0.02 | ) |
|
| (0.01 | ) |
|
| (0.03 | ) |
|
| 10.91 |
|
|
Class C: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| $ | — |
|
|
| ($0.82 | ) |
|
| ($0.82 | ) |
| $ | 12.11 |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| (0.01 | ) |
|
| — | (6) |
|
| (0.01 | ) |
|
| 12.48 |
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| — |
|
|
| — |
|
|
| — |
|
|
| 11.16 |
|
|
|
| 4/1/2003 - 3/31/2004 (4) |
|
| (0.01 | ) |
|
| — |
|
|
| (0.01 | ) |
|
| 10.81 |
|
|
|
| 4/1/2002 - 3/31/2003 (4) |
|
| (0.02 | ) |
|
| (0.06 | ) |
|
| (0.08 | ) |
|
| 7.77 |
|
|
|
| 9/28/2001 - 3/31/2002 (4) |
|
| (0.02 | ) |
|
| (0.01 | ) |
|
| (0.03 | ) |
|
| 10.90 |
|
|
PF Van Kampen Comstock Fund (13) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||
Class A: |
| 4/1/2006 - 9/30/2006 (4),(5) |
|
| ($0.02 | ) |
|
| ($0.23 | ) |
|
| ($0.25 | ) |
| $ | 13.41 |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| (0.06 | ) |
|
| (0.53 | ) |
|
| (0.59 | ) |
|
| 12.92 |
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| (0.05 | ) |
|
| — |
|
|
| (0.05 | ) |
|
| 12.58 |
|
|
|
| 4/1/2003 - 3/31/2004 (4) |
|
| — |
|
|
| — |
|
|
| — |
|
|
| 11.37 |
|
|
|
| 4/1/2002 - 3/31/2003 |
|
| — |
|
|
| (0.06 | ) |
|
| (0.06 | ) |
|
| 8.16 |
|
|
|
| 9/28/2001 - 3/31/2002 (4) |
|
| (0.04 | ) |
|
| — |
|
|
| (0.04 | ) |
|
| 11.45 |
|
|
Class B: |
| 4/1/2006 - 9/30/2006 (4),(5) |
|
| ($0.01 | ) |
|
| ($0.23 | ) |
|
| ($0.24 | ) |
| $ | 13.20 |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| — |
|
|
| (0.53 | ) |
|
| (0.53 | ) |
|
| 12.75 |
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| — |
|
|
| — |
|
|
| — |
|
|
| 12.42 |
|
|
|
| 4/1/2003 - 3/31/2004 (4) |
|
| — |
|
|
| — |
|
|
| — |
|
|
| 11.24 |
|
|
|
| 4/1/2002 - 3/31/2003 |
|
| — |
|
|
| (0.06 | ) |
|
| (0.06 | ) |
|
| 8.10 |
|
|
|
| 9/28/2001 - 3/31/2002 (4) |
|
| (0.04 | ) |
|
| — |
|
|
| (0.04 | ) |
|
| 11.43 |
|
|
Class C: |
| 4/1/2006 - 9/30/2006 (4),(5) |
|
| ($0.01 | ) |
|
| ($0.23 | ) |
|
| ($0.24 | ) |
| $ | 13.18 |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| (0.01 | ) |
|
| (0.53 | ) |
|
| (0.54 | ) |
|
| 12.72 |
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| (0.01 | ) |
|
| — |
|
|
| (0.01 | ) |
|
| 12.41 |
|
|
|
| 4/1/2003 - 3/31/2004 (4) |
|
| — |
|
|
| — |
|
|
| — |
|
|
| 11.24 |
|
|
|
| 4/1/2002 - 3/31/2003 |
|
| — |
|
|
| (0.06 | ) |
|
| (0.06 | ) |
|
| 8.11 |
|
|
|
| 9/28/2001 - 3/31/2002 (4) |
|
| (0.03 | ) |
|
| — |
|
|
| (0.03 | ) |
|
| 11.43 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Ratios/Supplemental Data |
| ||||||||||||||||||||||
|
|
|
|
|
| ||||||||||||||||||||||
|
|
|
| Total |
| Net Assets, |
| Ratios of |
| Ratios of |
| Ratios of Net |
| Portfolio |
| ||||||||||||
| |||||||||||||||||||||||||||
PF Salomon Brothers Large-Cap Value Fund |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||
Class A: |
| 4/1/2006 - 9/30/2006 (4),(5) |
|
| 4.13 | % |
| $ | 43,559 |
|
|
| 1.77 | % |
|
| 2.13 | % |
|
| 0.34 | % |
|
| 14.24 | % |
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| 12.47 | % |
|
| 34,459 |
|
|
| 1.80 | % |
|
| 2.25 | % |
|
| 0.20 | % |
|
| 77.07 | % |
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| 3.78 | % |
|
| 50,430 |
|
|
| 1.80 | % |
|
| 2.28 | % |
|
| 0.54 | % |
|
| 43.72 | % |
|
|
| 4/1/2003 - 3/31/2004 (4) |
|
| 39.91 | % |
|
| 25,315 |
|
|
| 1.80 | % |
|
| 2.73 | % |
|
| 0.29 | % |
|
| 38.10 | % |
|
|
| 4/1/2002 - 3/31/2003 (4) |
|
| (27.69 | %) |
|
| 11,736 |
|
|
| 1.80 | % |
|
| 2.94 | % |
|
| 0.41 | % |
|
| 49.00 | % |
|
|
| 9/28/2001 - 3/31/2002 (4) |
|
| 9.54 | % |
|
| 19,748 |
|
|
| 1.80 | % |
|
| 3.93 | % |
|
| (0.14 | %) |
|
| 27.37 | % |
|
Class B: |
| 4/1/2006 - 9/30/2006 (4),(5) |
|
| 3.85 | % |
| $ | 650 |
|
|
| 2.27 | % |
|
| 2.63 | % |
|
| (0.16 | %) |
|
| 14.24 | % |
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| 11.99 | % |
|
| 573 |
|
|
| 2.30 | % |
|
| 2.75 | % |
|
| (0.30 | %) |
|
| 77.07 | % |
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| 3.32 | % |
|
| 504 |
|
|
| 2.30 | % |
|
| 2.78 | % |
|
| 0.04 | % |
|
| 43.72 | % |
|
|
| 4/1/2003 - 3/31/2004 (4) |
|
| 39.36 | % |
|
| 556 |
|
|
| 2.30 | % |
|
| 3.23 | % |
|
| (0.21 | %) |
|
| 38.10 | % |
|
|
| 4/1/2002 - 3/31/2003 (4) |
|
| (28.02 | %) |
|
| 955 |
|
|
| 2.30 | % |
|
| 3.44 | % |
|
| (0.09 | %) |
|
| 49.00 | % |
|
|
| 9/28/2001 - 3/31/2002 (4) |
|
| 9.38 | % |
|
| 151 |
|
|
| 2.30 | % |
|
| 4.43 | % |
|
| (0.64 | %) |
|
| 27.37 | % |
|
Class C: |
| 4/1/2006 - 9/30/2006 (4),(5) |
|
| 3.86 | % |
| $ | 1,832 |
|
|
| 2.27 | % |
|
| 2.63 | % |
|
| (0.16 | %) |
|
| 14.24 | % |
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| 11.88 | % |
|
| 1,599 |
|
|
| 2.30 | % |
|
| 2.75 | % |
|
| (0.30 | %) |
|
| 77.07 | % |
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| 3.33 | % |
|
| 1,538 |
|
|
| 2.30 | % |
|
| 2.78 | % |
|
| 0.04 | % |
|
| 43.72 | % |
|
|
| 4/1/2003 - 3/31/2004 (4) |
|
| 39.27 | % |
|
| 1,277 |
|
|
| 2.30 | % |
|
| 3.23 | % |
|
| (0.21 | %) |
|
| 38.10 | % |
|
|
| 4/1/2002 - 3/31/2003 (4) |
|
| (28.08 | %) |
|
| 2,015 |
|
|
| 2.30 | % |
|
| 3.44 | % |
|
| (0.09 | %) |
|
| 49.00 | % |
|
|
| 9/28/2001 - 3/31/2002 (4) |
|
| 9.30 | % |
|
| 243 |
|
|
| 2.30 | % |
|
| 4.43 | % |
|
| (0.64 | %) |
|
| 27.37 | % |
|
PF Van Kampen Comstock Fund (13) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
Class A: |
| 4/1/2006 - 9/30/2006 (4),(5) |
|
| 5.89 | % |
| $ | 63,096 |
|
|
| 1.88 | % |
|
| 2.17 | % |
|
| 0.94 | % |
|
| 27.58 | % |
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| 7.62 | % |
|
| 62,447 |
|
|
| 1.90 | % |
|
| 2.25 | % |
|
| 0.79 | % |
|
| 22.40 | % |
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| 11.08 | % |
|
| 23,017 |
|
|
| 1.90 | % |
|
| 2.70 | % |
|
| 0.55 | % |
|
| 34.41 | % |
|
|
| 4/1/2003 - 3/31/2004 (4) |
|
| 39.34 | % |
|
| 11,945 |
|
|
| 1.90 | % |
|
| 3.59 | % |
|
| 0.24 | % |
|
| 105.34 | % |
|
|
| 4/1/2002 - 3/31/2003 |
|
| (28.26 | %) |
|
| 5,331 |
|
|
| 1.90 | % |
|
| 3.87 | % |
|
| (1.04 | %) |
|
| 37.78 | % |
|
|
| 9/28/2001 - 3/31/2002 (4) |
|
| 14.94 | % |
|
| 9,002 |
|
|
| 1.90 | % |
|
| 6.26 | % |
|
| (0.84 | %) |
|
| 18.71 | % |
|
Class B: |
| 4/1/2006 - 9/30/2006 (4),(5) |
|
| 5.53 | % |
| $ | 617 |
|
|
| 2.38 | % |
|
| 2.67 | % |
|
| 0.44 | % |
|
| 27.58 | % |
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| 7.14 | % |
|
| 532 |
|
|
| 2.40 | % |
|
| 2.75 | % |
|
| 0.29 | % |
|
| 22.40 | % |
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| 10.50 | % |
|
| 388 |
|
|
| 2.40 | % |
|
| 3.20 | % |
|
| 0.05 | % |
|
| 34.41 | % |
|
|
| 4/1/2003 - 3/31/2004 (4) |
|
| 38.77 | % |
|
| 453 |
|
|
| 2.40 | % |
|
| 4.09 | % |
|
| (0.26 | %) |
|
| 105.34 | % |
|
|
| 4/1/2002 - 3/31/2003 |
|
| (28.66 | %) |
|
| 201 |
|
|
| 2.40 | % |
|
| 4.37 | % |
|
| (1.54 | %) |
|
| 37.78 | % |
|
|
| 9/28/2001 - 3/31/2002 (4) |
|
| 14.71 | % |
|
| 105 |
|
|
| 2.40 | % |
|
| 6.76 | % |
|
| (1.34 | %) |
|
| 18.71 | % |
|
Class C: |
| 4/1/2006 - 9/30/2006 (4),(5) |
|
| 5.61 | % |
| $ | 1,003 |
|
|
| 2.38 | % |
|
| 2.67 | % |
|
| 0.44 | % |
|
| 27.58 | % |
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| 7.05 | % |
|
| 938 |
|
|
| 2.40 | % |
|
| 2.75 | % |
|
| 0.29 | % |
|
| 22.40 | % |
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| 10.50 | % |
|
| 872 |
|
|
| 2.40 | % |
|
| 3.20 | % |
|
| 0.05 | % |
|
| 34.41 | % |
|
|
| 4/1/2003 - 3/31/2004 (4) |
|
| 38.60 | % |
|
| 226 |
|
|
| 2.40 | % |
|
| 4.09 | % |
|
| (0.26 | %) |
|
| 105.34 | % |
|
|
| 4/1/2002 - 3/31/2003 |
|
| (28.57 | %) |
|
| 74 |
|
|
| 2.40 | % |
|
| 4.37 | % |
|
| (1.54 | %) |
|
| 37.78 | % |
|
|
| 9/28/2001 - 3/31/2002 (4) |
|
| 14.67 | % |
|
| 21 |
|
|
| 2.40 | % |
|
| 6.76 | % |
|
| (1.34 | %) |
|
| 18.71 | % |
|
|
|
See Notes to Financial Statements | See explanation of references on C-11 |
|
|
C-9 |
|
PACIFIC FUNDS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment Activities |
| ||||||||||||
|
|
|
|
|
|
|
| ||||||||||||
|
|
|
| Net Asset |
| Net |
| Net |
| Total |
| ||||||||
PF Van Kampen Mid-Cap Growth Fund (14) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||
Class A: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| $ | 11.67 |
|
|
| ($0.05 | ) |
|
| ($0.82 | ) |
|
| ($0.87 | ) |
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| 8.93 |
|
|
| (0.11 | ) |
|
| 2.85 |
|
|
| 2.74 |
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| 8.01 |
|
|
| (0.12 | ) |
|
| 1.04 |
|
|
| 0.92 |
|
|
|
| 4/1/2003 - 3/31/2004 (4) |
|
| 5.92 |
|
|
| (0.10 | ) |
|
| 2.19 |
|
|
| 2.09 |
|
|
|
| 4/1/2002 - 3/31/2003 |
|
| 11.18 |
|
|
| (0.09 | ) |
|
| (4.33 | ) |
|
| (4.42 | ) |
|
|
| 9/28/2001 - 3/31/2002 (4) |
|
| 10.00 |
|
|
| (0.08 | ) |
|
| 1.45 |
|
|
| 1.37 |
|
|
Class B: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| $ | 11.45 |
|
|
| ($0.08 | ) |
|
| ($0.80 | ) |
|
| ($0.88 | ) |
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| 8.80 |
|
|
| (0.15 | ) |
|
| 2.80 |
|
|
| 2.65 |
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| 7.93 |
|
|
| (0.15 | ) |
|
| 1.02 |
|
|
| 0.87 |
|
|
|
| 4/1/2003 - 3/31/2004 (4) |
|
| 5.88 |
|
|
| (0.14 | ) |
|
| 2.19 |
|
|
| 2.05 |
|
|
|
| 4/1/2002 - 3/31/2003 |
|
| 11.17 |
|
|
| (0.08 | ) |
|
| (4.37 | ) |
|
| (4.45 | ) |
|
|
| 9/28/2001 - 3/31/2002 (4) |
|
| 10.00 |
|
|
| (0.11 | ) |
|
| 1.45 |
|
|
| 1.34 |
|
|
Class C: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| $ | 11.42 |
|
|
| ($0.08 | ) |
|
| ($0.79 | ) |
|
| ($0.87 | ) |
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| 8.79 |
|
|
| (0.15 | ) |
|
| 2.78 |
|
|
| 2.63 |
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| 7.92 |
|
|
| (0.16 | ) |
|
| 1.03 |
|
|
| 0.87 |
|
|
|
| 4/1/2003 - 3/31/2004 (4) |
|
| 5.88 |
|
|
| (0.14 | ) |
|
| 2.18 |
|
|
| 2.04 |
|
|
|
| 4/1/2002 - 3/31/2003 |
|
| 11.16 |
|
|
| (0.09 | ) |
|
| (4.35 | ) |
|
| (4.44 | ) |
|
|
| 9/28/2001 - 3/31/2002 (4) |
|
| 10.00 |
|
|
| (0.11 | ) |
|
| 1.46 |
|
|
| 1.35 |
|
|
PF Van Kampen Real Estate Fund |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||
Class A: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| $ | 12.89 |
|
| $ | 0.01 |
|
| $ | 1.04 |
|
| $ | 1.05 |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| 9.39 |
|
|
| 0.05 |
|
|
| 3.70 |
|
|
| 3.75 |
|
|
|
| 12/31/2004 - 3/31/2005 (4) |
|
| 10.00 |
|
|
| 0.05 |
|
|
| (0.64 | ) |
|
| (0.59 | ) |
|
Class B: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| $ | 12.85 |
|
|
| ($0.02 | ) |
| $ | 1.04 |
|
| $ | 1.02 |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| 9.39 |
|
|
| (0.01 | ) |
|
| 3.70 |
|
|
| 3.69 |
|
|
|
| 12/31/2004 - 3/31/2005 (4) |
|
| 10.00 |
|
|
| 0.04 |
|
|
| (0.64 | ) |
|
| (0.60 | ) |
|
Class C: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| $ | 12.85 |
|
|
| ($0.02 | ) |
| $ | 1.03 |
|
| $ | 1.01 |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| 9.38 |
|
|
| (0.01 | ) |
|
| 3.70 |
|
|
| 3.69 |
|
|
|
| 12/31/2004 - 3/31/2005 (4) |
|
| 10.00 |
|
|
| 0.03 |
|
|
| (0.64 | ) |
|
| (0.61 | ) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Distributions |
|
|
| ||||||||||||
|
|
|
|
|
|
|
| ||||||||||||
|
|
|
| Dividends |
| Distributions |
| Total |
| Net Asset |
| ||||||||
PF Van Kampen Mid-Cap Growth Fund (14) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||
Class A: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| $ | — |
|
|
| ($0.73 | ) |
|
| ($0.73 | ) |
| $ | 10.07 |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| — |
|
|
| — |
|
|
| — |
|
|
| 11.67 |
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| — |
|
|
| — |
|
|
| — |
|
|
| 8.93 |
|
|
|
| 4/1/2003 - 3/31/2004 (4) |
|
| — |
|
|
| — |
|
|
| — |
|
|
| 8.01 |
|
|
|
| 4/1/2002 - 3/31/2003 |
|
| — |
|
|
| (0.84 | ) |
|
| (0.84 | ) |
|
| 5.92 |
|
|
|
| 9/28/2001 - 3/31/2002 (4) |
|
| (0.02 | ) |
|
| (0.17 | ) |
|
| (0.19 | ) |
|
| 11.18 |
|
|
Class B: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| $ | — |
|
|
| ($0.73 | ) |
|
| ($0.73 | ) |
| $ | 9.84 |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| — |
|
|
| — |
|
|
| — |
|
|
| 11.45 |
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| — |
|
|
| — |
|
|
| — |
|
|
| 8.80 |
|
|
|
| 4/1/2003 - 3/31/2004 (4) |
|
| — |
|
|
| — |
|
|
| — |
|
|
| 7.93 |
|
|
|
| 4/1/2002 - 3/31/2003 |
|
| — |
|
|
| (0.84 | ) |
|
| (0.84 | ) |
|
| 5.88 |
|
|
|
| 9/28/2001 - 3/31/2002 (4) |
|
| — |
|
|
| (0.17 | ) |
|
| (0.17 | ) |
|
| 11.17 |
|
|
Class C: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| $ | — |
|
|
| ($0.73 | ) |
|
| ($0.73 | ) |
| $ | 9.82 |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| — |
|
|
| — |
|
|
| — |
|
|
| 11.42 |
|
|
|
| 4/1/2004 - 3/31/2005 (4) |
|
| — |
|
|
| — |
|
|
| — |
|
|
| 8.79 |
|
|
|
| 4/1/2003 - 3/31/2004 (4) |
|
| — |
|
|
| — |
|
|
| — |
|
|
| 7.92 |
|
|
|
| 4/1/2002 - 3/31/2003 |
|
| — |
|
|
| (0.84 | ) |
|
| (0.84 | ) |
|
| 5.88 |
|
|
|
| 9/28/2001 - 3/31/2002 (4) |
|
| (0.02 | ) |
|
| (0.17 | ) |
|
| (0.19 | ) |
|
| 11.16 |
|
|
PF Van Kampen Real Estate Fund |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||
Class A: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| $ | — |
|
|
| ($0.14 | ) |
|
| ($0.14 | ) |
| $ | 13.80 |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| (0.17 | ) |
|
| (0.08 | ) |
|
| (0.25 | ) |
|
| 12.89 |
|
|
|
| 12/31/2004 - 3/31/2005 (4) |
|
| (0.02 | ) |
|
| — |
|
|
| (0.02 | ) |
|
| 9.39 |
|
|
Class B: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| $ | — |
|
|
| ($0.14 | ) |
|
| ($0.14 | ) |
| $ | 13.73 |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| (0.15 | ) |
|
| (0.08 | ) |
|
| (0.23 | ) |
|
| 12.85 |
|
|
|
| 12/31/2004 - 3/31/2005 (4) |
|
| (0.01 | ) |
|
| — |
|
|
| (0.01 | ) |
|
| 9.39 |
|
|
Class C: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| $ | — |
|
|
| ($0.14 | ) |
|
| ($0.14 | ) |
| $ | 13.72 |
|
|
|
| 4/1/2005 - 3/31/2006 (4) |
|
| (0.14 | ) |
|
| (0.08 | ) |
|
| (0.22 | ) |
|
| 12.85 |
|
|
|
| 12/31/2004 - 3/31/2005 (4) |
|
| (0.01 | ) |
|
| — |
|
|
| (0.01 | ) |
|
| 9.38 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Ratios/Supplemental Data |
| |||||||||||||||||
|
|
|
|
|
| |||||||||||||||||
|
|
|
| Total |
| Net Assets, |
| Ratios of |
| Ratios of |
| Ratios of Net |
| Portfolio |
| |||||||
PF Van Kampen Mid-Cap Growth Fund (14) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||
Class A: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| (7.64 | %) |
| $ | 48,466 |
|
| 1.82 | % |
| 2.16 | % |
| (0.98 | %) |
| 25.24 | % |
|
|
| 4/1/2005 - 3/31/2006 (4) |
| 30.68 | % |
|
| 39,980 |
|
| 1.85 | % |
| 2.29 | % |
| (1.04 | %) |
| 107.64 | % |
|
|
| 4/1/2004 - 3/31/2005 (4) |
| 11.49 | % |
|
| 36,882 |
|
| 1.85 | % |
| 2.43 | % |
| (1.37 | %) |
| 82.70 | % |
|
|
| 4/1/2003 - 3/31/2004 (4) |
| 35.30 | % |
|
| 18,388 |
|
| 1.85 | % |
| 3.29 | % |
| (1.42 | %) |
| 326.09 | % |
|
|
| 4/1/2002 - 3/31/2003 |
| (40.51 | %) |
|
| 6,191 |
|
| 1.85 | % |
| 4.31 | % |
| (1.39 | %) |
| 158.16 | % |
|
|
| 9/28/2001 - 3/31/2002 (4) |
| 13.79 | % |
|
| 11,383 |
|
| 1.85 | % |
| 5.33 | % |
| (1.44 | %) |
| 70.54 | % |
|
Class B: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| (7.89 | %) |
| $ | 900 |
|
| 2.32 | % |
| 2.66 | % |
| (1.48 | %) |
| 25.24 | % |
|
|
| 4/1/2005 - 3/31/2006 (4) |
| 30.11 | % |
|
| 948 |
|
| 2.35 | % |
| 2.79 | % |
| (1.54 | %) |
| 107.64 | % |
|
|
| 4/1/2004 - 3/31/2005 (4) |
| 10.97 | % |
|
| 667 |
|
| 2.35 | % |
| 2.93 | % |
| (1.87 | %) |
| 82.70 | % |
|
|
| 4/1/2003 - 3/31/2004 (4) |
| 34.86 | % |
|
| 504 |
|
| 2.35 | % |
| 3.79 | % |
| (1.92 | %) |
| 326.09 | % |
|
|
| 4/1/2002 - 3/31/2003 |
| (40.84 | %) |
|
| 586 |
|
| 2.35 | % |
| 4.81 | % |
| (1.89 | %) |
| 158.16 | % |
|
|
| 9/28/2001 - 3/31/2002 (4) |
| 13.52 | % |
|
| 82 |
|
| 2.35 | % |
| 5.83 | % |
| (1.94 | %) |
| 70.54 | % |
|
Class C: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| (7.82 | %) |
| $ | 1,968 |
|
| 2.32 | % |
| 2.66 | % |
| (1.48 | %) |
| 25.24 | % |
|
|
| 4/1/2005 - 3/31/2006 (4) |
| 29.92 | % |
|
| 2,460 |
|
| 2.35 | % |
| 2.79 | % |
| (1.54 | %) |
| 107.64 | % |
|
|
| 4/1/2004 - 3/31/2005 (4) |
| 10.99 | % |
|
| 1,436 |
|
| 2.35 | % |
| 2.93 | % |
| (1.87 | %) |
| 82.70 | % |
|
|
| 4/1/2003 - 3/31/2004 (4) |
| 34.69 | % |
|
| 958 |
|
| 2.35 | % |
| 3.79 | % |
| (1.92 | %) |
| 326.09 | % |
|
|
| 4/1/2002 - 3/31/2003 |
| (40.78 | %) |
|
| 1,141 |
|
| 2.35 | % |
| 4.81 | % |
| (1.89 | %) |
| 158.16 | % |
|
|
| 9/28/2001 - 3/31/2002 (4) |
| 13.53 | % |
|
| 116 |
|
| 2.35 | % |
| 5.83 | % |
| (1.94 | %) |
| 70.54 | % |
|
PF Van Kampen Real Estate Fund |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||
Class A: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| 8.19 | % |
| $ | 24,327 |
|
| 2.03 | % |
| 2.47 | % |
| 0.22 | % |
| 17.61 | % |
|
|
| 4/1/2005 - 3/31/2006 (4) |
| 40.43 | % |
|
| 25,552 |
|
| 2.05 | % |
| 2.76 | % |
| 0.41 | % |
| 9.81 | % |
|
|
| 12/31/2004 - 3/31/2005 (4) |
| (5.95 | %) |
|
| 13,853 |
|
| 2.05 | % |
| 3.57 | % |
| 2.01 | % |
| 0.79 | % |
|
Class B: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| 7.98 | % |
| $ | 120 |
|
| 2.53 | % |
| 2.97 | % |
| (0.28 | %) |
| 17.61 | % |
|
|
| 4/1/2005 - 3/31/2006 (4) |
| 39.65 | % |
|
| 97 |
|
| 2.55 | % |
| 3.26 | % |
| (0.09 | %) |
| 9.81 | % |
|
|
| 12/31/2004 - 3/31/2005 (4) |
| (6.05 | %) |
|
| 17 |
|
| 2.55 | % |
| 4.07 | % |
| 1.51 | % |
| 0.79 | % |
|
Class C: |
| 4/1/2006 - 9/30/2006 (4),(5) |
| 7.91 | % |
| $ | 167 |
|
| 2.53 | % |
| 2.97 | % |
| (0.28 | %) |
| 17.61 | % |
|
|
| 4/1/2005 - 3/31/2006 (4) |
| 39.74 | % |
|
| 114 |
|
| 2.55 | % |
| 3.26 | % |
| (0.09 | %) |
| 9.81 | % |
|
|
| 12/31/2004 - 3/31/2005 (4) |
| (6.06 | %) |
|
| 32 |
|
| 2.55 | % |
| 4.07 | % |
| 1.51 | % |
| 0.79 | % |
|
|
|
See Notes to Financial Statements | See explanation of references on C-11 |
|
|
C-10 |
|
PACIFIC FUNDS |
|
|
(1) | The total returns include reinvestment of all dividends and capital gain distributions, if any, and do not include deductions of any applicable sales charges. Total returns are not annualized for periods less than one full year. |
|
|
(2) | The ratios of net expenses after expense reductions to average daily net assets are after adviser expense reimbursements and distribution and/or service fee waivers, if any, as discussed in Note 5 to the Financial Statements. The expense ratios for all the PF Portfolio Optimization Models do not include expenses of the underlying funds (see Note 1 to Financial Statements) in which the Portfolio Optimization Models invest. |
|
|
(3) | The ratios are annualized for periods of less than one full year. |
|
|
(4) | Per share investment income has been calculated using the average shares method. |
|
|
(5) | Unaudited. |
|
|
(6) | Amount represents less than $0.005 per share or less than 0.005%. |
|
|
(7) | Prior to May 1, 2006, the PF AllianceBernstein International Value Fund was named PF Lazard International Value Fund. |
|
|
(8) | Prior to January 1, 2006, the PF Loomis Sayles Large-Cap Growth Fund was named the PF AIM Blue Chip Fund. |
|
|
(9) | Prior to January 1, 2004, the PF MFS International Large-Cap Fund was named the PF MFS Global Growth Fund. |
|
|
(10) | Prior to October 1, 2005, the PF NB Fasciano Small Equity Fund was named the PF AIM Aggressive Growth Fund. |
|
|
(11) | Class B and C shares of the PF Pacific Life Money Market Fund were converted to Class A shares on June 29, 2005. |
|
|
(12) | The expense cap for the PF Pacific Life Money Market Class A was 0.05% for the period 7/1/02 - 6/30/05. Subsequent to 6/30/05 the expense cap was 0.45%. The effect of the distribution and/or service fee waivers by the Distributor on the ratios of net expenses after expense reductions to the average net assets for the PF Pacific Life Money Market Class A was 0.11% for the year ended 3/31/06. |
|
|
(13) | Prior to May 1, 2003, the PF Van Kampen Comstock Fund was named the PF Janus Strategic Value Fund. |
|
|
(14) | Prior to May 1, 2003, the PF Van Kampen Mid-Cap Growth Fund was named the PF MFS Mid-Cap Growth Fund. |
See Notes to Financial Statements
C-11
PACIFIC FUNDS
NOTES TO FINANCIAL STATEMENTS
(Unaudited)
1. ORGANIZATION
Pacific Funds is a Delaware statutory trust, which was formed on May 21, 2001, and is registered under the Investment Company Act of 1940 (“1940 Act”), as amended, as an open-end management investment company, and as of September 30, 2006, was comprised of twenty-one separate funds (each individually, a “Fund”, and collectively, the “Funds”): PF Portfolio Optimization Model A, PF Portfolio Optimization Model B, PF Portfolio Optimization Model C, PF Portfolio Optimization Model D, PF Portfolio Optimization Model E, PF AllianceBernstein International Value Fund (formerly PF Lazard International Value), PF Goldman Sachs Short Duration Bond, PF Janus Growth LT, PF Lazard Mid-Cap Value, PF Loomis Sayles Large-Cap Growth, PF MFS International Large-Cap, PF NB Fasciano Small Equity, PF Oppenheimer Main Street® Core, PF Oppenheimer Emerging Markets, PF PIMCO Managed Bond, PF PIMCO Inflation Managed, PF Pacific Life Money Market, PF Salomon Brothers Large-Cap Value, PF Van Kampen Comstock, PF Van Kampen Mid-Cap Growth, and PF Van Kampen Real Estate. Main Street is a registered trademark of OppenheimerFunds, Inc. Each Fund, with the exception of PF Pacific Life Money Market, PF Oppenheimer Main Street Core, and PF Oppenheimer Emerging Markets, has at least three separate classes of shares: Class A, B, and C. PF Pacific Life Money Market, PF Oppenheimer Main Street Core, and PF Oppenheimer Emerging Markets Funds offer Class A shares only. PF Portfolio Optimization Model A, PF Portfolio Optimization Model B, PF Portfolio Optimization Model C, PF Portfolio Optimization Model D, and PF Portfolio Optimization Model E, (collectively, “Portfolio Optimization Funds”) also offer Class R shares. Presently, only the Portfolio Optimization Funds can invest in PF Oppenheimer Main Street Core Fund and PF Oppenheimer Emerging Markets Fund. Each class is distinguished by its level of distribution and/or service fees and in general: (i) Class A shares are subject to a maximum 5.50% front-end sales charge; (ii) Class B shares are subject to a maximum 5.00% contingent deferred sales charge (“CDSC”); (iii) Class C shares are subject to a maximum 1.00% CDSC; and (iv) Class R shares are sold at net asset value (“NAV”) without an initial sales charge. The sales charge for Class A shares is reduced for purchases of $50,000 or more and may be waived in certain circumstances. There is no sales charge for Class A shares for purchases of $1 million or more, although there is a CDSC of 1% on redemptions of such Class A shares within one year of purchase. Class A shares of PF Pacific Life Money Market Fund are sold without an initial sales charge.
The Portfolio Optimization Funds invest all of their assets in Class A shares of other funds of Pacific Funds (collectively, the “Underlying Funds”) without payment of a front-end sales charge. No CDSC is charged to the Portfolio Optimization Funds upon the sales of shares of the Underlying Funds. Pacific Life Insurance Company (“Pacific Life”) uses an asset allocation process to determine each of the Portfolio Optimization Funds’ investment mixes. The Portfolio Optimization Funds use a monthly allocation percentage (“MAP”) method, which considers the value of the Underlying Funds and a sales forecast for the upcoming month, to invest purchase proceeds and meet redemption needs. This method is intended to help maintain target allocations, although there is no guarantee that the Portfolio Optimization Funds will maintain their target allocations using this method. Actual holdings of the Portfolio Optimization Funds could vary from their target allocations due to actual cash flows and changes to the Underlying Funds’ asset values as a result of market movements and portfolio management decisions. Pacific Life periodically evaluates each Portfolio Optimization Fund’s asset allocation strategy and may update the target allocations at that time. When target allocations are updated, a process known as reallocation is used. The reallocation process may be accomplished by using rebalancing to move the assets among the Underlying Funds, or by using MAP methodology, or by using a combination of the two. Reallocation may cause the Portfolio Optimization Funds to temporarily deviate from their target allocations. The Funds offered by Pacific Funds may change and Underlying Funds may be added to or deleted from a Portfolio Optimization Fund. Pacific Life may change the asset class allocations, Underlying Funds (including any funds organized in the future), or target allocations with respect to each Underlying Fund without prior approval from shareholders as it determines necessary to pursue stated investment goals. The target allocation percentages as well as other information on the Portfolio Optimization Funds is described in the prospectuses.
All of the Funds except the Portfolio Optimization Funds, PF Goldman Sachs Short Duration Bond Fund, PF Lazard Mid-Cap Value Fund, PF Oppenheimer Main Street Core Fund, PF Oppenheimer Emerging Markets Fund, PF PIMCO Inflation Managed Fund, and PF Van Kampen Real Estate Fund commenced operations on September 28, 2001. The PF PIMCO Inflation Managed Fund commenced operations on December 31, 2002, the PF Goldman Sachs Short Duration Bond Fund and the Portfolio Optimization Funds commenced operations on December 31, 2003, the PF Lazard Mid-Cap Value and PF Van Kampen Real Estate Funds commenced operations on December 31, 2004, and the PF Oppenheimer Main Street Core and PF Oppenheimer Emerging Markets Funds commenced operations on September 30, 2005.
2. SIGNIFICANT ACCOUNTING POLICIES
The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for investment companies. These principles require management to make estimates and assumptions that affect the reported amounts and disclosures in the financial statements. Actual results could differ from those estimates. The following is a summary of the significant accounting policies followed by the Funds in the preparation of the financial statements.
A. Fund Valuation
The NAV per share for each Fund is calculated once a day, every day the New York Stock Exchange (“NYSE”) is open, including when foreign markets are closed. For purposes of
D-1
PACIFIC FUNDS
NOTES TO FINANCIAL STATEMENTS (Continued)
(Unaudited)
calculating the NAV, the Funds use pricing data as of the time of the close of the NYSE, which is usually 4:00 p.m. Eastern time, although it occasionally closes earlier.
Equity securities are generally valued at the last reported sale price for securities traded on a principal exchange (U.S. or foreign). Securities, including option contracts, traded on over-the-counter markets and listed securities for which no sales are reported, are generally valued at the mean between the most recent bid and asked prices obtained from a quotation reporting system, from established market makers, or from broker-dealers. Fixed income securities are generally valued at the mean between the bid and asked prices obtained from pricing sources (including pricing services and quotation reporting systems), market makers, or broker-dealers. Certain bonds are valued by a benchmark, matrix, or other pricing processes approved by the Funds’ Board of Trustees (the “Board”). If bid and ask prices are not available, securities may be valued at bid prices or evaluated prices. Money market instruments and short-term securities maturing within sixty days are valued at amortized cost, which approximates market value. The NAV of the Portfolio Optimization Funds is calculated based on the NAVs calculated for each of the Underlying Funds.
Securities for which market quotations are not readily available or are deemed to be unreliable or inaccurate are valued at their fair value as determined in good faith pursuant to procedures established by the Board. Fair values may not be indicative of the price that a Fund could obtain for a security if it were to dispose of the security as of the close of the NYSE.
In determining the fair value of securities, the Funds may consider available information, including information that becomes known after the time of close of the NYSE, and the values that are determined will be deemed to be the price as of the time of the close of the NYSE.
If events occur between the time of the determination of the closing price of a foreign security on an exchange or over-the-counter market and the time that the Fund’s NAV is determined, or if, under the Funds’ procedures, the closing price of a foreign security is not deemed to be reliable, and there could be a material effect on a Fund’s NAV, the security would be valued at fair value as determined in accordance with procedures and methodologies approved by the Board.
The Funds have retained a statistical research service to assist in determining the fair value of foreign securities. This service utilizes proprietary computer models based on historical performance of markets and other considerations to determine fair values for certain foreign securities. These fair values may not be indicative of the price that a Fund could obtain for a foreign security if it were to dispose of the security as of the close of the NYSE.
B. Securities Transactions and Investment Income
Securities transactions are recorded on a trade date basis. Securities purchased or sold on a when-issued or delayed-delivery basis may be settled a month or more after the trade date. Dividend income is recorded on the ex-dividend date, except certain dividends from foreign securities are recorded as soon as a Fund is informed of the ex-dividend date or upon receipt of the dividend. A Fund’s estimated components of distributions received from real estate investment trusts may be considered return of capital distributions or capital gain distributions. Return of capital distributions are recorded as a reduction of cost of the related investments. Interest income is recorded on an accrual basis. Interest income includes coupon interest and amortization of premium and discount on debt securities. Discounts and premiums are recorded on a daily basis using the effective yield method except for short-term securities and the PF Pacific Life Money Market Fund, which record discounts and premiums on a straight-line basis. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain. The Funds may be subject to foreign taxes on income, gains on investments or currency repatriation, a portion of which may be recoverable. The Funds will accrue such taxes and reclaims as applicable, based upon their current interpretation of tax rules and regulations that exist in the markets in which they invest. Realized gains and losses from securities transactions are recorded on the basis of identified cost, which is also used for Federal income tax purposes. Gains and losses realized on principal paydowns from mortgage- and asset-backed securities are recorded as interest income in the Statements of Operations.
Each class of shares has equal rights as to assets and earnings, except that each class separately bears certain class-specific expenses related to distribution and/or service fees (see Note 3). Income, other non-class specific expenses, and realized and unrealized gains and losses on investments are allocated to each class of shares based on its relative daily net assets.
C. Distributions to Shareholders
The Funds currently declare and pay dividends on net investment income at least annually, except for the PF Goldman Sachs Short Duration Bond, PF PIMCO Managed Bond, PF PIMCO Inflation Managed, PF Pacific Life Money Market, and PF Van Kampen Real Estate Funds. Dividends are generally: 1) declared and paid monthly for the PF Goldman Sachs Short Duration Bond, PF PIMCO Managed Bond, and PF PIMCO Inflation Managed Funds; 2) declared daily and paid monthly for the PF Pacific Life Money Market Fund; and 3) declared and paid quarterly for the PF Van Kampen Real Estate Fund. Dividends may be declared less frequently if advantageous to the specific Fund. All realized capital gains are distributed at least annually for all Funds.
Dividends on net investment income and capital gain distributions are determined in accordance with income tax regulations, which may differ from U.S. GAAP. These differences are primarily due to differing treatments for futures and options, foreign currency transactions, passive foreign investment companies, post-October losses, capital loss carryforwards, and losses deferred due to wash sales. Permanent book and tax differences relating to shareholder distributions will result in
D-2
PACIFIC FUNDS
NOTES TO FINANCIAL STATEMENTS (Continued)
(Unaudited)
reclassifications of paid-in capital. Dividends and distributions paid to shareholders are recorded on the ex-dividend date.
D. Foreign Currency Translation
Assets and liabilities initially expressed in non-U.S. currencies are translated into U.S. dollars based on the applicable exchange rates at the end of the reporting period. Purchases and sales of securities, interest income and dividends received, and expenses denominated in foreign currencies are translated into U.S. dollars at the exchange rates in effect on the transaction date.
The Funds do not separately report on the Statements of Operations the effect of changes in foreign exchange rates from changes in market prices of securities held. Such changes are included in net realized gain or loss and change in unrealized appreciation or depreciation from investments.
Net realized foreign exchange gains and losses arise from sales of a Fund’s securities, sales and maturities of short-term securities, sales of foreign currencies, currency gains or losses realized between the trade and settlement dates on securities transactions, the difference between the amounts of dividends, interest, and foreign withholding taxes recorded on each Fund’s books, and the U.S. dollar equivalent of the amounts actually received or paid. Net unrealized foreign exchange appreciation and depreciation arise from changes in the value of assets and liabilities, including investments in securities at the period-end, resulting from changes in the exchange rate.
E. Expense Allocation
General expenses of the Funds (including custodial asset-based fees, legal and audit fees, printing and mailing expenses, transfer agency out-of-pocket expenses, and fees and expenses of the independent trustees) are allocated to each Fund in proportion to its relative daily net assets. Expenses directly attributable to a particular Fund (including advisory, administration, custodial transaction-based, registration, other professional, distribution and/or service fees, certain taxes, and offering costs) are charged directly to that Fund.
F. Offering Costs
The Funds bear all costs associated with offering expenses including legal, printing and internal services support. All such costs are amortized to expense on a straight-line basis over twelve months from commencement of operations.
G. Futures Contracts
Certain Funds may use futures contracts to manage their exposure to the stock markets, fluctuations in interest rates, and foreign currency values. Initial margin deposits are made upon entering into futures contracts and can be either cash or securities. During the period a futures contract is open, changes in the value of the contract are recognized as unrealized appreciation or depreciation by “marking-to-market” on a daily basis to reflect the market value of the contract at the end of each day’s trading until the contracts are closed. Variation margin receivables or payables represent the difference between the change in unrealized appreciation and depreciation on the open contracts and the cash deposits made on the margin accounts. When the contract is closed, a Fund records a realized gain or loss equal to the difference between the proceeds from (or cost of) the closing transaction and the Fund’s cost of the contract. The primary risks associated with the use of futures contracts are the possibility of illiquid markets or imperfect correlation between the value of the instruments and the underlying securities, or that the counterparty will fail to perform its obligations. Futures contracts are valued at the settlement price established each day by the board of trade or exchange on which they are traded.
H. Options Contracts
Certain Funds may write or purchase call and put options on futures, swaps, securities, or currencies. Writing put options or purchasing call options tends to increase a fund’s exposure to the underlying instrument. Writing call options or purchasing put options tends to decrease a Fund’s exposure to the underlying instrument. When a Fund writes or purchases a call or put option, an amount equal to the premium received or paid by the Fund is included in a Fund’s Statement of Assets and Liability as a liability or an investment and subsequently adjusted to the current market value, based on the option’s quoted daily settlement price, of the option written or purchased. Certain options may be written or purchased with premiums to be determined on a futures date. The premiums for these options are based upon implied volatility parameters at specified terms. Premiums received or paid from writing or purchasing options, which expire unexercised, are treated by a Fund on the expiration date as realized gains or losses. The difference between the premium and the amount paid or received on effecting a closing purchase or sale transaction, including brokerage commissions, is also treated as a realized gain or loss. If an option is exercised, the premium paid or received is added to the cost of the purchase or proceeds from the sale in determining whether the Fund has realized a gain or loss on investment transactions. A Fund, as a writer of an option, may have no control over whether the underlying futures, swap, security or currency may be sold (call) or purchased (put) and as a result bears the market risk of an unfavorable change in the price of the futures, swap, security or currency underlying the written option. There is the risk a Fund may not be able to enter into a closing transaction because of an illiquid market. The risk associated with purchasing put and call options is limited to the premium paid.
I. Forward Foreign Currency Contracts
Certain Funds may enter into forward foreign currency contracts (“forward contracts”) for the purpose of hedging against foreign exchange risk arising from a Fund’s investment in foreign securities. These contracts are “marked-to-market” daily at the applicable translation rates. A Fund records realized gains or losses at the time the forward contract is closed. A forward contract is extinguished through a closing transaction or upon delivery of the currency or entering an offsetting contract. The change, if any, is recorded as unrealized appreciation or depreciation in the Statement of Operations. Risks may arise upon entering these contracts from the potential inability of a counterparty to meet the terms of their
D-3
PACIFIC FUNDS
NOTES TO FINANCIAL STATEMENTS (Continued)
(Unaudited)
contracts and from unanticipated movements in the value of a foreign currency relative to the U.S. dollar or other currencies.
J. Swaps
Certain Funds may enter into interest rate, total return, credit default, and other swap agreements in order to obtain a desired return at a lower cost than if a Fund had invested directly in the asset that yielded the desired return and to manage its exposure to interest and credit risk. Swaps involve commitments to exchange components of income (generally interest or returns) pegged to the underlying assets based on a notional principal amount. In connection with these agreements, securities may be identified as collateral in accordance with the terms and the respective swap agreements.
Interest rate swap agreements involve the exchange by a fund with another party of their respective commitments to pay or receive interest. For example, an exchange of floating rate payments for fixed rate payments with respect to the notional amount of principal.
Total return swap agreements involve commitments to pay interest in exchange for a market-linked return, both based on notional amounts. To the extent the total return of the security or index underlying the transaction exceeds or falls short of the offsetting interest rate obligation, a fund will receive a payment from or make a payment to the counterparty.
Credit default swap agreements involve one party making a stream of payments to another party in exchange for the right to receive a specified return in the event of a default by a third party (typically corporate issues or sovereign issues of an emerging country) on its obligation. A fund may use credit default swaps to provide a measure of protection against defaults of sovereign issuers (i.e., to reduce risk where a fund owns or has exposure to the sovereign issuer) or to take an active long or short position with respect to the likelihood of a particular issuer’s default. As a seller of protection, a fund generally receives an upfront payment or fixed rate of income throughout the term of the swap provided there is no credit event. As the seller, a fund would effectively add leverage to its portfolio because, in addition to its net assets, a fund would be subject to investment exposure on the notional amount of the swap.
Swaps are marked to market daily based upon quotations from market makers and the change in value, if any, is recorded as unrealized appreciation or depreciation in the Statements of Operations. Payments received or made at the beginning of the measurement period are reflected as such in the Statements of Assets and Liabilities. These upfront payments are recorded as realized gain or loss in the Statement of Operations, when the swap is closed. A liquidation payment received or made at the termination of the swap is recorded as realized gain or loss in the Statement of Operations. Net periodic payments received by the portfolios are included as part of realized gain (loss) in the Statements of Operations. Entering into these agreements involves, to varying degrees, elements of credit, market and documentation risk in excess of the amounts recognized in the Statements of Assets and Liabilities. Such risks involve the possibility that there will be no liquid market for these agreements, that the counterparty to the agreements may default on its obligations to perform or disagree as to the meaning of contractual terms in the agreements, and that there may be unfavorable changes in interest rates.
K. Inflation-Indexed Bonds
Certain Funds may invest in inflation-indexed bonds. Inflation-indexed bonds are fixed income securities whose principal value is periodically adjusted to the rate of inflation. The interest rate on these bonds is generally fixed at issuance at a rate lower than typical bonds. Over the life of an inflation-indexed bond, however, interest will be paid based on a principal value, which is adjusted for inflation. Any increase or decrease in the principal amount of an inflation-indexed bond will result in an adjustment of interest income in the Statement of Operations.
L. Stripped Mortgage-Backed Securities
Certain Funds may invest in stripped mortgage-backed securities (“SMBS”). SMBS represent a participation in, or are secured by and payable from, mortgage loans on real property, and may be structured in classes with rights to receive varying proportions of principal and interest. SMBS include interest-only securities (“IOs”), which receive all of the interest, and principal-only securities (“POs”), which receive the entire principal. If the underlying mortgage assets experience greater than anticipated prepayments of principal, a Fund may fail to recoup some or all of its initial investment in these securities. The market value of these securities is highly sensitive to changes in interest rates. Payments received for IOs are included in interest income in the Statements of Operations. Due to principal not being received at the maturity of an IO, adjustments are made to book value of the security on each coupon date until maturity. These adjustments are included in interest income in the Statements of Operations. Payments received for POs are treated as reductions to the cost and par value of the securities. Any paydown gains or losses associated with the payments received are included in interest income in the Statement of Operations.
M. Equity-Linked Structured Notes
Certain Funds may invest in equity-linked structured notes. Equity-linked structured notes are derivative securities which are specially designed to combine the characteristics of one or more underlying securities and their equity derivatives in a single note form. The return and/or yield or income component may be based on the performance of the underlying equity securities, an equity index, and/or option positions. Equity-linked structured notes are typically offered in limited transactions by financial institutions in either registered or non-registered form. An investment in equity-linked notes creates exposure to the credit risk of the issuing financial institution, as well as to the market risk of the underlying securities. There is no guaranteed return of principal with these securities and the appreciation potential of these securities may be limited by a maximum payment or call right. In certain cases, equity-linked notes may be more volatile and less liquid than less complex securities or other types of fixed-income securities. Such securities may exhibit price behavior that does not correlate with other fixed-income securities.
D-4
PACIFIC FUNDS
NOTES TO FINANCIAL STATEMENTS (Continued)
(Unaudited)
N. Government Sponsored Enterprise Securities
Certain Funds invest in securities issued by the Federal Home Loan Mortgage Corporation (“Freddie Mac”) and similar U.S. Government sponsored entities such as Federal National Mortgage Association (“Fannie Mae”) and the Federal Home Loan Banks (“FHLB’s”). Freddie Mac, Fannie Mae, and the FHLB’s, although chartered and sponsored by Congress, are not funded by Congressional appropriations. The debt and mortgage-backed securities issued by these entities are neither guaranteed nor insured by the U.S. Government.
O. When-Issued Securities and Delayed-Delivery Transactions
Certain Funds may purchase or sell securities on a when-issued or delayed-delivery basis. Payment and delivery may take place after the customary settlement period for that security. The price or yield of the underlying securities is fixed at the time the transaction is negotiated. The market values of the securities purchased on a when-issued or delayed-delivery basis are identified as such in each applicable Fund’s Schedule of Investments. When when-issued securities and delayed-delivery purchases are outstanding, a Fund will set aside, and maintain until the settlement date in a segregated account, liquid assets in an amount sufficient to meet the purchase price. When purchasing a security on a when-issued or delayed-delivery basis, a Fund assumes the rights and risks of ownership of the security, including the risk of price and yield fluctuations, and takes such fluctuations into account when determining its NAV. A Fund may dispose of or renegotiate a delayed-delivery transaction after it is entered into, and may sell when-issued securities before they are delivered, which may result in a capital gain or loss. When a Fund has sold a security on a delayed-delivery basis, the Fund does not participate in future gains and losses with respect to the security. Risks may arise upon entering these contracts from the potential inability of a counterparty to meet the terms of their contracts, or if the issuer does not issue the securities due to political, economic, or other factors.
P. Short Sales
Certain Funds may enter into short sales. A short sale is a transaction in which a Fund sells securities it does not own in anticipation of a decline in the market price of the securities. A Fund is obligated to deliver securities at the market price at the time the short position is closed. Possible losses from short sales may be unlimited.
Q. Repurchase Agreements
Certain Funds may invest in repurchase agreements. Repurchase agreements permit the investor to maintain liquidity and earn income over periods of time as short as overnight. Repurchase agreements held by a Fund are fully collateralized by U.S. Government securities, or securities issued by U.S. Government agencies, or securities that are within the three highest credit categories assigned by established rating agencies (Aaa, Aa, or A by Moody’s Investors Service, Inc. (“Moody’s”) or AAA, AA or A by Standard & Poor’s Corporation (“Standard & Poor’s”)) or, if not rated by Moody’s or Standard & Poor’s, are of equivalent investment quality as determined by Pacific Life or a fund manager. Such collateral is in the possession of the Funds’ custodian or a designated broker-dealer. The collateral is evaluated daily to ensure its market value equals or exceeds the current market value of the repurchase agreements including accrued interest. In the event of default on the obligation to repurchase, a Fund has the right to liquidate the collateral and apply the proceeds in satisfaction of the obligation.
R. Additional Accounting Standards
In July 2006, Financial Accounting Standards Board Interpretation No. 48, “Accounting for Uncertainty in Income Taxes – an interpretation of FASB Statement 109” (FIN 48), was issued and is effective for fiscal years beginning after December 15, 2006. FIN 48 sets forth a threshold for financial statement recognition, measurement and disclosure of a tax position taken or expected to be taken on a tax return. Management is currently evaluating the impact, if any, the adoption of FIN 48 will have on the Funds’ net assets, results of operations and financial statement disclosures.
In addition, in September 2006, Statement of Financial Accounting Standards No. 157, “Fair Value Measurements” (“SFAS 157”), was issued and is effective for fiscal years beginning after November 15, 2007. SFAS 157 defines fair value, establishes a framework for measuring fair value and expands disclosures about fair value measurements. Management is currently evaluating the impact, if any, the adoption of SFAS 157 will have on the Funds’ financial statement disclosures.
S. General Investment Risk
The prices of equity securities change in response to many factors, including a company’s historical and prospective earnings, the value of its assets, general economic conditions, interest rates, investor perceptions, and market liquidity.
Fixed income securities are affected primarily by the financial condition of the companies that have issued them, and by changes in interest rates.
There are certain additional risks involved in investing in foreign securities that are not inherent in investments in domestic securities. These risks may involve foreign currency fluctuations, adverse political, social and economic developments and the possible imposition of currency exchange blockages or other foreign governmental laws or restrictions. In addition, the securities of some foreign companies and securities markets are less liquid and at times more volatile than securities of comparable U.S. companies and U.S. securities markets. The markets in emerging markets countries can be extremely volatile.
Asset allocation does not guarantee future results. Investment in an individual fund or funds in a single asset class may outperform or underperform an asset allocation fund.
For additional risks, refer to discussions on specific types of investments in Notes 2G through 2Q above.
3. INVESTMENT ADVISORY, ADMINISTRATION AND SHAREHOLDER SERVICES, AND DISTRIBUTION AGREEMENTS
Pursuant to an Investment Advisory Agreement, Pacific Life serves as Investment Adviser to the Funds, and receives from the
D-5
PACIFIC FUNDS
NOTES TO FINANCIAL STATEMENTS (Continued)
(Unaudited)
Funds the following advisory fee rates based on an annual percentage of the average daily net assets of each Fund. The fees are accrued daily by the Funds:
|
|
|
|
|
PF AllianceBernstein International Value |
|
| 0.85 | % |
| ||||
PF Goldman Sachs Short Duration Bond |
|
| 0.60 | % |
| ||||
PF Janus Growth LT |
|
| 0.75 | % |
| ||||
PF Lazard Mid-Cap Value |
|
| 0.85 | % |
| ||||
PF Loomis Sayles Large-Cap Growth |
|
| 0.95 | % |
| ||||
PF MFS International Large-Cap |
|
| 1.05 | % |
| ||||
PF NB Fasciano Small Equity |
|
| 1.00 | % |
| ||||
PF Oppenheimer Main Street Core |
|
| 0.65 | % |
|
|
|
|
|
PF Oppenheimer Emerging Markets |
|
| 1.00 | % |
| ||||
PF PIMCO Managed Bond |
|
| 0.60 | % |
| ||||
PF PIMCO Inflation Managed |
|
| 0.60 | % |
| ||||
PF Pacific Life Money Market |
|
| See (1) |
|
| ||||
PF Salomon Brothers Large-Cap Value |
|
| 0.85 | % |
| ||||
PF Van Kampen Comstock |
|
| 0.95 | % |
| ||||
PF Van Kampen Mid-Cap Growth |
|
| 0.90 | % |
| ||||
PF Van Kampen Real Estate |
|
| 1.10 | % |
|
|
(1) | An annual rate of 0.40% of the first $250 million of the average daily net assets, 0.35% of the next $250 million, and 0.30% in excess of $500 million. |
Pacific Life receives no fees for the investment advisory services under the Investment Advisory Agreement with respect to the Portfolio Optimization Funds. The Portfolio Optimization Funds indirectly bear the fees paid by the Underlying Funds in which they invest.
Pursuant to Fund Management Agreements, the Funds and Pacific Life engage fund managers under Pacific Life’s supervision for fifteen of the twenty-one Funds. As of September 30, 2006, the following firms served as sub-advisers for their respective Funds: AllianceBernstein L.P., Goldman Sachs Asset Management, L.P., Janus Capital Management LLC, Lazard Asset Management LLC, Loomis, Sayles & Company, L.P., MFS Investment Management, Neuberger Berman Management Inc., OppenheimerFunds, Inc., Pacific Investment Management Company LLC, Salomon Brothers Asset Management Inc, and Van Kampen. Pacific Life, as Investment Adviser to the Funds, pays the related management fees as compensation for advisory services provided to the Funds.
Pursuant to an Administration and Shareholder Services Agreement (the “Agreement”), Pacific Life serves as Administrator (the “Administrator”) to the Funds. Under the Agreement, the Funds compensate the Administrator at an annual rate of 0.35% of average daily net assets for procuring or providing administrative, transfer agency, and shareholder services. In addition, the Funds compensate the Administrator for its expenses in providing support services to the Funds in connection with various matters, including: expense of registering and qualifying the Funds on state and Federal levels; providing legal, compliance, accounting, tax and chief compliance officer services; maintaining the Funds’ legal existence; and shareholders’ meetings and expenses associated with preparing, printing and distributing reports, proxies and prospectuses to existing shareholders. The Funds reimburse Pacific Life for these support services on an approximate cost basis.
Pacific Select Distributors, Inc. (the “Distributor”), a wholly owned subsidiary of Pacific Life, serves as distributor of the Funds’ shares. The Distributor bears all expenses of providing services, including costs of sales presentations, mailings, advertisings, and other marketing efforts by the Distributor in connection with the distribution or sale of the Funds’ shares and makes distribution and servicing payments to selling groups in connection with the sale of the Funds’ shares and subsequent servicing needs of shareholders provided by selling groups. The Distributor receives distribution and servicing fees pursuant to class-specific distribution and service plans, each adopted in accordance with Rule 12b-1 under the Investment Company Act of 1940 (together the “Plans”). Under the Plans, each Fund, except the PF Pacific Life Money Market Fund, pays to the Distributor both distribution and servicing fees at an annual rate expressed as a percentage of average daily net assets. The distribution fee is 0.25% for Class A and R shares and 0.75% for Class B and C shares. The servicing fee is 0.25% for Class A, B, C, and R shares. Under a separate service plan, the PF Pacific Life Money Market Fund pays to the Distributor a servicing fee at an annual rate of 0.25% of average daily net assets. The PF Pacific Life Money Market Fund does not pay a distribution fee. For the Portfolio Optimization Funds, each class of shares invests in Class A shares of the Underlying Funds, which are charged an annual distribution and servicing fee of 0.50% (for PF Pacific Life Money Market Fund 0.25% servicing fee only) of average daily net assets without payment of a front-end sales charge. To avoid duplication of fees, the distribution and servicing fee for each class of the Portfolio Optimization Funds will be waived up to 0.50% (in the aggregate); the amount of the aggregate waiver is dependent on the amount of actual distribution and/or servicing fees incurred by the Underlying Funds within a particular Portfolio Optimization Model. The fees are accrued daily.
For the six-month period ended September 30, 2006, the Distributor, acting as underwriter, received net commissions of $3,172,115 from the sale of Class A shares and received $196,907 in CDSC from redemptions of Class B and C shares.
4. TRUSTEE DEFERRED COMPENSATION PLAN
Each independent trustee of the Board (“Trustee”) is eligible to participate in the Funds’ Deferred Compensation Plan (the “Plan”). The Plan allows each Trustee to voluntarily defer receipt of all or a percentage of fees which otherwise would be payable for services performed. Amounts in the deferral account are obligations of the Funds that are payable in accordance with the Plan. Deferral amounts are treated as though equivalent dollar amounts had been invested in shares of certain Funds. A Trustee who defers compensation has the option to select credit rate options that track the performance of the Class A shares of the corresponding series of the Funds without a sales load. Accordingly, the market value appreciation or depreciation of the Trustee’s deferred compensation accounts will cause the expenses of each Fund to increase or decrease due to the market fluctuation. Effective January 1, 2005, the old Plan was frozen to permit no further deferrals. A new Plan was adopted to comply with section 409A of the Internal Revenue Code. The new Plan is substantially similar to the old Plan, but provides that a Trustee may receive deferred amounts in the event of a disability or unforeseeable emergency. Also, the new Plan provides that a Trustee may only elect to further defer amounts in a deferral account if (i) such election is made more than twelve-month prior to the date such account would otherwise be paid; and (ii) the revised date of payment selected is no earlier than five years after
D-6
PACIFIC FUNDS
NOTES TO FINANCIAL STATEMENTS (Continued)
(Unaudited)
the date such account would otherwise have been paid. As of September 30, 2006, the total deferred trustee compensation liability was $170,525.
5. EXPENSE REDUCTIONS
To help limit the Funds’ expenses, under contract, Pacific Life has reimbursed each Fund for its operating expenses (including organizational expenses, but not including investment advisory fees; distribution and/or service fees; foreign taxes on dividends, interest or gains; taxes; brokerage commissions and other transactional expenses; extraordinary expenses such as litigation and other expenses not incurred in the ordinary course of each Fund’s business) that exceed an annual rate based on a percentage of a Fund’s average daily net assets. The expense cap is 0.00% for the Portfolio Optimization Funds and 0.45% for the Underlying Funds through August 31, 2006 and 0.00% for the Portfolio Optimization Funds and 0.30% for the Underlying Funds from September 1, 2006 through December 31, 2007. For the PF Pacific Life Money Market Fund, the expense cap was reduced to 0.05% for the period July 1, 2002 through June 30, 2005. Such reduction or reimbursement is subject to repayment to Pacific Life, for a period of time as permitted under regulatory and/or accounting standards (currently 3 years from the end of the fiscal year in which the reimbursement took place), to the extent such expenses fall below the expense cap in future years. Any amounts repaid to Pacific Life will have the effect of increasing such expenses of the Funds, but not above the expense cap. There is no guarantee that Pacific Life will continue to cap expenses after December 31, 2007.
The cumulative reimbursement amounts as of September 30, 2006 that are subject to repayment for each Fund are as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Expiration |
| ||||||||||
|
|
| |||||||||||
Funds |
| 2007 |
| 2008 |
| 2009 |
| 2010 |
| ||||
|
|
|
|
| |||||||||
PF Portfolio Optimization Model A |
| $ | 36,837 |
| $ | 227,677 |
| $ | 239,802 |
| $ | 115,359 |
|
PF Portfolio Optimization Model B |
|
| 54,940 |
|
| 355,811 |
|
| 442,372 |
|
| 243,852 |
|
PF Portfolio Optimization Model C |
|
| 103,852 |
|
| 679,146 |
|
| 1,185,218 |
|
| 747,295 |
|
PF Portfolio Optimization Model D |
|
| 110,532 |
|
| 629,641 |
|
| 1,107,412 |
|
| 759,958 |
|
PF Portfolio Optimization Model E |
|
| 62,617 |
|
| 369,133 |
|
| 469,853 |
|
| 313,849 |
|
PF AllianceBernstein International Value |
|
| 163,749 |
|
| 226,073 |
|
| 267,723 |
|
| 121,001 |
|
PF Goldman Sachs Short Duration Bond |
|
| 30,535 |
|
| 189,312 |
|
| 150,594 |
|
| 73,282 |
|
PF Janus Growth LT |
|
| 148,424 |
|
| 136,338 |
|
| 140,644 |
|
| 84,072 |
|
PF Lazard Mid-Cap Value |
|
| — |
|
| 58,835 |
|
| 173,484 |
|
| 56,616 |
|
PF Loomis Sayles Large-Cap Growth |
|
| 180,256 |
|
| 172,805 |
|
| 245,172 |
|
| 72,048 |
|
PF MFS International Large-Cap |
|
| 320,872 |
|
| 340,780 |
|
| 355,135 |
|
| 163,591 |
|
PF NB Fasciano Small Equity |
|
| 116,454 |
|
| 142,612 |
|
| 134,926 |
|
| 53,516 |
|
PF Oppenheimer Main Street Core |
|
| — |
|
| — |
|
| 82,462 |
|
| 107,619 |
|
PF Oppenheimer Emerging Markets |
|
| — |
|
| — |
|
| 448,741 |
|
| 369,839 |
|
PF PIMCO Managed Bond |
|
| 306,150 |
|
| 229,552 |
|
| 265,770 |
|
| 137,713 |
|
PF PIMCO Inflation Managed |
|
| 164,752 |
|
| 150,852 |
|
| 197,676 |
|
| 111,566 |
|
PF Pacific Life Money Market |
|
| 271,427 |
|
| 213,591 |
|
| 166,678 |
|
| 50,087 |
|
PF Salomon Brothers Large-Cap Value |
|
| 192,635 |
|
| 189,257 |
|
| 219,212 |
|
| 70,879 |
|
PF Van Kampen Comstock |
|
| 140,698 |
|
| 142,219 |
|
| 138,900 |
|
| 98,274 |
|
PF Van Kampen Mid-Cap Growth |
|
| 177,748 |
|
| 179,956 |
|
| 167,673 |
|
| 75,942 |
|
PF Van Kampen Real Estate |
|
| — |
|
| 38,207 |
|
| 136,561 |
|
| 55,392 |
|
|
|
|
|
|
| ||||||||
Total |
| $ | 2,582,478 |
| $ | 4,671,797 |
| $ | 6,736,008 |
| $ | 3,881,750 |
|
|
|
|
|
|
|
Due to the current regulatory and/or accounting standards, all expense reimbursements made by the adviser for the period September 28, 2001 (the Pacific Funds’ commencement date of operations) to March 31, 2003 ($4,337,946) expired for future recoupment as of March 31, 2006. Based on the Funds’ experience, the likelihood of repayment by the Funds for the amounts presented in the table above prior to the expiration is considered remote and no liabilities for such repayments were recorded by the Funds as of September 30, 2006. Each Fund’s expense reimbursement is presented in the accompanying Statements of Operations.
6. TRANSACTIONS WITH AFFILIATES
The Funds have incurred $2,927,224 of investment advisory fees, $2,415,635 of administration fees, and $564,984 of support services expenses payable to Pacific Life, for the six-month period ended September 30, 2006. As of September 30, 2006, $512,333, $423,908, and $167,703 remained payable for investment advisory fees, administration fees, and support services expenses, respectively.
For the six-month period ended September 30, 2006, the Funds also incurred $2,763,810 of distribution and/or service fees (after distribution and/or service fee waivers of $1,609,732) payable to the Distributor under the distribution and service (12b-1) and non 12b-1 service plans. As of September 30, 2006, $82,350 remained payable.
7. TAX CHARACTER OF DISTRIBUTIONS AND COMPONENTS OF DISTRIBUTABLE EARNINGS
The tax character of distributions paid during the six-month period ended September 30, 2006, was as follows:
|
|
|
|
|
|
|
|
|
|
|
|
| Distributions Paid From |
| |||||||
|
|
| ||||||||
Funds |
| Ordinary |
| Long-Term |
| Total |
| |||
PF Portfolio Optimization Model A |
| $ | 121,325 |
| $ | 118,068 |
| $ | 239,393 |
|
PF Portfolio Optimization Model B |
|
| 224,504 |
|
| 709,752 |
|
| 934,256 |
|
PF Portfolio Optimization Model C |
|
| 672,275 |
|
| 2,357,112 |
|
| 3,029,387 |
|
PF Portfolio Optimization Model D |
|
| 745,355 |
|
| 2,320,771 |
|
| 3,066,126 |
|
PF Portfolio Optimization Model E |
|
| 262,971 |
|
| 1,521,551 |
|
| 1,784,522 |
|
PF AllianceBernstein International Value |
|
| 230,019 |
|
| 1,930,814 |
|
| 2,160,833 |
|
PF Goldman Sachs Short Duration Bond |
|
| 745,606 |
|
| — |
|
| 745,606 |
|
D-7
PACIFIC FUNDS
NOTES TO FINANCIAL STATEMENTS (Continued)
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
| Distributions Paid From |
| |||||||
|
|
| ||||||||
|
|
|
|
|
|
|
|
|
|
|
|
| Ordinary |
| Long-Term |
| Total |
| |||
Funds |
| Income |
| Capital Gain |
| Distributions |
| |||
| ||||||||||
PF Lazard Mid-Cap Value |
| $ | 293,818 |
| $ | 403,250 |
| $ | 697,068 |
|
PF Loomis Sayles Large-Cap Growth |
|
| — |
|
| 2,089,765 |
|
| 2,089,765 |
|
PF MFS International Large-Cap |
|
| 42,256 |
|
| 1,744,373 |
|
| 1,786,629 |
|
PF NB Fasciano Small Equity |
|
| — |
|
| 26,664 |
|
| 26,664 |
|
PF Oppenheimer Main Street Core |
|
| 500,657 |
|
| 54,129 |
|
| 554,786 |
|
PF Oppenheimer Emerging Markets |
|
| 1,373,569 |
|
| — |
|
| 1,373,569 |
|
PF PIMCO Managed Bond |
|
| 1,398,880 |
|
| — |
|
| 1,398,880 |
|
PF PIMCO Inflation Managed |
|
| 1,306,993 |
|
| — |
|
| 1,306,993 |
|
PF Pacific Life Money Market |
|
| 437,346 |
|
| — |
|
| 437,346 |
|
PF Salomon Brothers Large-Cap Value |
|
| 2,599 |
|
| 2,508,884 |
|
| 2,511,483 |
|
PF Van Kampen Comstock |
|
| 484,482 |
|
| 877,391 |
|
| 1,361,873 |
|
PF Van Kampen Mid-Cap Growth |
|
| — |
|
| 2,912,296 |
|
| 2,912,296 |
|
PF Van Kampen Real Estate |
|
| — |
|
| 270,169 |
|
| 270,169 |
|
The tax character of distributions paid during the year ended March 31, 2006, was as follows:
|
|
|
|
|
|
|
|
|
|
|
|
| Distributions Paid From |
| |||||||
|
|
| ||||||||
|
|
|
|
|
|
|
|
|
|
|
|
| Ordinary |
| Long-Term |
| Total |
| |||
Funds |
| Income |
| Capital Gain |
| Distributions |
| |||
| ||||||||||
PF Portfolio Optimization Model A |
| $ | 457,472 |
| $ | 29,135 |
| $ | 486,607 |
|
PF Portfolio Optimization Model B |
|
| 866,783 |
|
| 77,037 |
|
| 943,820 |
|
PF Portfolio Optimization Model C |
|
| 2,444,470 |
|
| 314,732 |
|
| 2,759,202 |
|
PF Portfolio Optimization Model D |
|
| 2,029,146 |
|
| 433,959 |
|
| 2,463,105 |
|
PF Portfolio Optimization Model E |
|
| 592,619 |
|
| 197,308 |
|
| 789,927 |
|
PF AllianceBernstein International Value |
|
| 469,290 |
|
| 451,353 |
|
| 920,643 |
|
PF Goldman Sachs Short Duration Bond |
|
| 791,258 |
|
| — |
|
| 791,258 |
|
PF Lazard Mid-Cap Value |
|
| 1,260,107 |
|
| — |
|
| 1,260,107 |
|
PF MFS International Large-Cap |
|
| 343,236 |
|
| 524,157 |
|
| 867,393 |
|
PF NB Fasciano Small Equity |
|
| 204,940 |
|
| 1,550,709 |
|
| 1,755,649 |
|
PF Oppenheimer Main Street Core |
|
| 74,605 |
|
| — |
|
| 74,605 |
|
PF Oppenheimer Emerging Markets |
|
| 230,818 |
|
| — |
|
| 230,818 |
|
PF PIMCO Managed Bond |
|
| 1,586,020 |
|
| — |
|
| 1,586,020 |
|
PF PIMCO Inflation Managed |
|
| 2,661,073 |
|
| 19,513 |
|
| 2,680,586 |
|
PF Pacific Life Money Market |
|
| 600,514 |
|
| — |
|
| 600,514 |
|
PF Salomon Brothers Large-Cap Value |
|
| 103,292 |
|
| 8,943 |
|
| 112,235 |
|
PF Van Kampen Comstock |
|
| 330,675 |
|
| 1,542,672 |
|
| 1,873,347 |
|
PF Van Kampen Real Estate |
|
| 361,688 |
|
| 98,676 |
|
| 460,364 |
|
At March 31, 2006, the components of distributable earnings on a tax basis were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net |
| |
|
| Accumulated |
| Undistributed |
| Undistributed |
| Unrealized |
| ||||
|
| Capital and |
| Ordinary |
| Long-Term |
| Appreciation |
| ||||
Funds |
| Other Losses |
| Income |
| Capital Gains |
| (Depreciation)(1) |
| ||||
| |||||||||||||
PF Portfolio Optimization Model A |
| $ | — |
| $ | 120,779 |
| $ | 117,821 |
| $ | 249,047 |
|
PF Portfolio Optimization Model B |
|
| — |
|
| 224,073 |
|
| 709,296 |
|
| 2,614,137 |
|
PF Portfolio Optimization Model C |
|
| — |
|
| 671,694 |
|
| 2,356,796 |
|
| 16,536,221 |
|
PF Portfolio Optimization Model D |
|
| — |
|
| 745,159 |
|
| 2,320,098 |
|
| 21,366,110 |
|
PF Portfolio Optimization Model E |
|
| — |
|
| 262,108 |
|
| 1,521,455 |
|
| 10,224,096 |
|
PF AllianceBernstein International Value |
|
| (19,233 | ) |
| 229,329 |
|
| 1,930,723 |
|
| 13,496,449 |
|
PF Goldman Sachs Short Duration Bond |
|
| (583,656 | ) |
| 1,140 |
|
| — |
|
| (274,913 | ) |
PF Janus Growth LT |
|
| (215,835 | ) |
| — |
|
| — |
|
| 5,957,174 |
|
PF Lazard Mid-Cap Value |
|
| — |
|
| 293,521 |
|
| 402,919 |
|
| 1,490,248 |
|
PF Loomis Sayles Large-Cap Growth |
|
| (430,790 | ) |
| — |
|
| 2,089,600 |
|
| 1,388,350 |
|
PF MFS International Large-Cap |
|
| (20,747 | ) |
| 41,873 |
|
| 1,744,244 |
|
| 11,303,268 |
|
PF NB Fasciano Small Equity |
|
| — |
|
| — |
|
| 26,430 |
|
| 2,381,764 |
|
PF Oppenheimer Main Street Core |
|
| — |
|
| 499,897 |
|
| 53,705 |
|
| 2,868,119 |
|
PF Oppenheimer Emerging Markets |
|
| (45,178 | ) |
| 1,372,811 |
|
| — |
|
| 4,362,007 |
|
PF PIMCO Managed Bond |
|
| (184,757 | ) |
| 188,257 |
|
| — |
|
| (871,339 | ) |
PF PIMCO Inflation Managed |
|
| (612,667 | ) |
| — |
|
| — |
|
| (2,067,755 | ) |
PF Pacific Life Money Market |
|
| (24 | ) |
| 19,649 |
|
| — |
|
| — |
|
PF Salomon Brothers Large-Cap Value |
|
| — |
|
| 2,314 |
|
| 2,508,698 |
|
| 5,693,077 |
|
PF Van Kampen Comstock |
|
| — |
|
| 483,695 |
|
| 877,290 |
|
| 2,983,674 |
|
PF Van Kampen Mid-Cap Growth |
|
| — |
|
| — |
|
| 2,911,859 |
|
| 10,716,579 |
|
PF Van Kampen Real Estate |
|
| — |
|
| — |
|
| 270,055 |
|
| 5,599,837 |
|
|
|
|
| (1) | Amount includes appreciation and depreciation on investments, derivatives, and assets and liabilities in foreign currencies. |
The components of the accumulated capital and other losses as of March 31, 2006, are summarized in Note 8.
8. FEDERAL INCOME TAX INFORMATION
Each Fund intends to continue to qualify as a regulated investment company and distribute substantially all its taxable income and capital gains to its shareholders. Each Fund presented in the first table below declared and paid sufficient dividends on net investment income and capital gains distributions during the year ended March 31, 2006 to qualify as a regulated investment company and is not required to pay Federal income tax under Subchapter M of the Internal Revenue Code (“the Code”). Accordingly, no provision for Federal income taxes is required in the financial statements. Required distributions are based on net investment income and net realized gains determined on a tax basis and may differ from such amounts for financial reporting purposes (see Note 2C). In addition, the year in which amounts are distributed may differ from the year in which the net investment income is earned and the net gains are realized by each Fund.
Net capital loss carryovers and post-October capital losses, if any, as of March 31, 2006, are available to offset future realized capital gains and thereby reduce future capital gains distributions. Post-October foreign currency losses, if any, will offset future net investment income and thereby reduce future ordinary income
D-8
PACIFIC FUNDS
NOTES TO FINANCIAL STATEMENTS (Continued)
(Unaudited)
distributions. The net capital loss carryovers and the post-October capital and foreign currency losses deferred as of March 31, 2006, were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
|
| Net Capital |
| Net Capital Loss |
| Post- |
| Post-October |
| Accumulated |
| ||||||||||||||
|
|
|
|
|
|
| |||||||||||||||||||
|
|
|
|
|
|
| |||||||||||||||||||
Funds |
|
| 2010 |
| 2011 |
| 2013 |
| 2014 |
|
|
|
| ||||||||||||
|
|
|
|
|
|
|
|
| |||||||||||||||||
PF Portfolio Optimization Model A |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
|
PF Portfolio Optimization Model B |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
PF Portfolio Optimization Model C |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
PF Portfolio Optimization Model D |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
PF Portfolio Optimization Model E |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
PF AllianceBernstein International Value |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
| (19,233 | ) |
| (19,233 | ) |
PF Goldman Sachs Short Duration Bond |
|
| (424,064 | ) |
| — |
|
| — |
|
| (87,029 | ) |
| (337,035 | ) |
| (159,592 | ) |
| — |
|
| (583,656 | ) |
PF Janus Growth LT |
|
| (215,835 | ) |
| — |
|
| (215,835 | ) |
| — |
|
| — |
|
| — |
|
| — |
|
| (215,835 | ) |
PF Lazard Mid-Cap Value |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
PF Loomis Sayles Large-Cap Growth* |
|
| (428,549 | ) |
| (221,245 | ) |
| (207,304 | ) |
| — |
|
| — |
|
| — |
|
| (2,241 | ) |
| (430,790 | ) |
PF MFS International Large-Cap |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
| (20,747 | ) |
| (20,747 | ) |
PF NB Fasciano Small Equity |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
PF Oppenheimer Main Street Core |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
PF Oppenheimer Emerging Markets |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
| (45,178 | ) |
| (45,178 | ) |
PF PIMCO Managed Bond |
|
| (69,299 | ) |
| — |
|
| — |
|
| — |
|
| (69,229 | ) |
| (42,035 | ) |
| (73,423 | ) |
| (184,757 | ) |
PF PIMCO Inflation Managed |
|
| (207,330 | ) |
| — |
|
| — |
|
| — |
|
| (207,330 | ) |
| (281,833 | ) |
| (123,504 | ) |
| (612,667 | ) |
PF Pacific Life Money Market |
|
| (13 | ) |
| — |
|
| — |
|
| — |
|
| (13 | ) |
| (11 | ) |
| — |
|
| (24 | ) |
PF Salomon Brothers Large-Cap Value |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
PF Van Kampen Comstock |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
PF Van Kampen Mid-Cap Growth |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
PF Van Kampen Real Estate |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
|
|
* | The availability of a certain amount of this capital loss carryforward, which was acquired on December 31, 2003 in the merger with the PF Putnam Research Fund, may be limited in a given year. |
The aggregate cost of investments and the composition of unrealized appreciation and depreciation on investments and net unrealized appreciation and/or depreciation on derivatives and assets and liabilities in foreign currencies as of September 30, 2006, were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Gross |
| Gross |
| Net Unrealized |
| Net Unrealized |
|
|
|
| ||||
|
| Tax Cost of |
| Unrealized |
| Unrealized |
| Appreciation |
| Appreciation |
| Net Unrealized |
| ||||||
|
| Investments |
| Appreciation |
| Depreciation |
| (Depreciation) |
| (Depreciation) |
| Appreciation |
| ||||||
Funds |
| on Tax Basis |
| on Investments |
| on Investments |
| on Investments |
| on Other (1) |
| (Depreciation) |
| ||||||
|
|
|
|
|
|
| |||||||||||||
PF Portfolio Optimization Model A |
| $ | 24,818,060 |
| $ | 426,524 |
|
| ($82,791 | ) | $ | 343,733 |
| $ | — |
| $ | 343,733 |
|
PF Portfolio Optimization Model B |
|
| 64,785,700 |
|
| 3,179,793 |
|
| (344,906 | ) |
| 2,834,887 |
|
| — |
|
| 2,834,887 |
|
PF Portfolio Optimization Model C |
|
| 237,881,172 |
|
| 17,028,127 |
|
| (1,539,638 | ) |
| 15,488,489 |
|
| — |
|
| 15,488,489 |
|
PF Portfolio Optimization Model D |
|
| 242,570,215 |
|
| 21,302,461 |
|
| (1,074,005 | ) |
| 20,228,456 |
|
| — |
|
| 20,228,456 |
|
PF Portfolio Optimization Model E |
|
| 94,658,769 |
|
| 10,277,138 |
|
| (75,644 | ) |
| 10,201,494 |
|
| — |
|
| 10,201,494 |
|
PF AllianceBerstein International Value |
|
| 53,555,019 |
|
| 5,260,210 |
|
| (2,288,424 | ) |
| 2,971,786 |
|
| 11,972 |
|
| 2,983,758 |
|
PF Goldman Sachs Short Duration Bond |
|
| 52,330,637 |
|
| 133,254 |
|
| (125,167 | ) |
| 8,087 |
|
| (40,139 | ) |
| (32,052 | ) |
PF Janus Growth LT |
|
| 43,047,175 |
|
| 6,426,365 |
|
| (1,015,865 | ) |
| 5,410,500 |
|
| 4,507 |
|
| 5,415,007 |
|
PF Lazard Mid-Cap Value |
|
| 51,140,597 |
|
| 3,745,398 |
|
| (803,160 | ) |
| 2,942,238 |
|
| — |
|
| 2,942,238 |
|
PF Loomis Sayles Large-Cap Growth |
|
| 22,062,521 |
|
| 1,699,785 |
|
| (384,117 | ) |
| 1,315,668 |
|
| — |
|
| 1,315,668 |
|
PF MFS International Large-Cap |
|
| 46,345,755 |
|
| 11,639,641 |
|
| (832,201 | ) |
| 10,807,440 |
|
| (2,009 | ) |
| 10,805,431 |
|
PF NB Fasciano Small Equity |
|
| 28,572,220 |
|
| 2,220,077 |
|
| (931,463 | ) |
| 1,288,614 |
|
| — |
|
| 1,288,614 |
|
PF Oppenheimer Main Street Core |
|
| 59,750,691 |
|
| 5,024,981 |
|
| (647,217 | ) |
| 4,377,764 |
|
| — |
|
| 4,377,764 |
|
PF Oppenheimer Emerging Markets |
|
| 36,001,831 |
|
| 4,493,366 |
|
| (1,538,966 | ) |
| 2,954,400 |
|
| (156,145 | ) |
| 2,798,255 |
|
PF PIMCO Managed Bond |
|
| 113,910,708 |
|
| 515,717 |
|
| (525,064 | ) |
| (9,347 | ) |
| 351,459 |
|
| 342,112 |
|
PF PIMCO Inflation Managed |
|
| 94,760,973 |
|
| 206,312 |
|
| (1,632,958 | ) |
| (1,426,646 | ) |
| 46,609 |
|
| (1,380,037 | ) |
PF Pacific Life Money Market |
|
| 15,708,597 |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
PF Salomon Brothers Large-Cap Value |
|
| 38,618,933 |
|
| 6,880,990 |
|
| (237,689 | ) |
| 6,643,301 |
|
| 7 |
|
| 6,643,308 |
|
PF Van Kampen Comstock |
|
| 59,695,068 |
|
| 6,278,518 |
|
| (539,080 | ) |
| 5,739,438 |
|
| — |
|
| 5,739,438 |
|
PF Van Kampen Mid-Cap Growth |
|
| 43,849,421 |
|
| 9,091,247 |
|
| (1,834,605 | ) |
| 7,256,642 |
|
| — |
|
| 7,256,642 |
|
PF Van Kampen Real Estate |
|
| 18,681,764 |
|
| 6,115,071 |
|
| (139,682 | ) |
| 5,975,389 |
|
| 182 |
|
| 5,975,571 |
|
|
|
|
| (1) | Other includes net appreciation or depreciation on derivatives and assets and liabilities in foreign currencies. |
D-9
PACIFIC FUNDS
NOTES TO FINANCIAL STATEMENTS (Continued)
(Unaudited)
9. PURCHASES AND SALES OF SECURITIES
The cost of purchases and proceeds from sales of securities (excluding short-term investments and the PF Pacific Life Money Market Fund since it trades exclusively in short-term debt securities) for the six-month period ended September 30, 2006, were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| U.S. Government Securities |
| Other Securities |
| ||||||||
Funds |
| Purchases |
| Sales |
| Purchases |
| Sales |
| ||||
| |||||||||||||
PF Portfolio Optimization Model A |
| $ | — |
| $ | — |
| $ | 6,395,571 |
| $ | 5,871,742 |
|
PF Portfolio Optimization Model B |
|
| — |
|
| — |
|
| 13,609,739 |
|
| 7,798,869 |
|
PF Portfolio Optimization Model C |
|
| — |
|
| — |
|
| 58,914,775 |
|
| 19,736,197 |
|
PF Portfolio Optimization Model D |
|
| — |
|
| — |
|
| 64,964,600 |
|
| 18,318,519 |
|
PF Portfolio Optimization Model E |
|
| — |
|
| — |
|
| 32,391,604 |
|
| 10,444,969 |
|
PF AllianceBernstein International Value |
|
| — |
|
| — |
|
| 57,881,172 |
|
| 61,484,136 |
|
PF Goldman Sachs Short Duration Bond |
|
| 26,560,468 |
|
| 12,337,657 |
|
| 4,156,427 |
|
| 250,000 |
|
PF Janus Growth LT |
|
| — |
|
| — |
|
| 15,600,020 |
|
| 10,645,354 |
|
PF Lazard Mid-Cap Value |
|
| — |
|
| — |
|
| 81,965,740 |
|
| 55,267,782 |
|
PF Loomis Sayles Large-Cap Growth |
|
| — |
|
| — |
|
| 23,726,574 |
|
| 19,742,071 |
|
PF MFS International Large-Cap |
|
| — |
|
| — |
|
| 19,248,785 |
|
| 17,148,285 |
|
PF NB Fasciano Small Equity |
|
| — |
|
| — |
|
| 15,171,810 |
|
| 6,641,024 |
|
PF Oppenheimer Main Street Core |
|
| — |
|
| — |
|
| 36,900,271 |
|
| 25,808,529 |
|
PF Oppenheimer Emerging Markets |
|
| — |
|
| — |
|
| 19,395,411 |
|
| 12,430,018 |
|
PF PIMCO Managed Bond |
|
| 109,592,961 |
|
| 95,464,014 |
|
| 9,735,532 |
|
| 6,498,899 |
|
PF PIMCO Inflation Managed |
|
| 163,472,288 |
|
| 166,436,999 |
|
| 684,375 |
|
| 1,148,831 |
|
PF Salomon Brothers Large-Cap Value |
|
| — |
|
| — |
|
| 12,095,516 |
|
| 5,397,777 |
|
PF Van Kampen Comstock |
|
| — |
|
| — |
|
| 17,676,099 |
|
| 17,074,523 |
|
PF Van Kampen Mid-Cap Growth |
|
| — |
|
| — |
|
| 21,557,965 |
|
| 11,074,205 |
|
PF Van Kampen Real Estate |
|
| — |
|
| — |
|
| 4,208,889 |
|
| 6,787,593 |
|
10. INDEMNIFICATIONS
Under the Pacific Funds’ organizational documents, its officers and trustees are indemnified against certain liabilities arising out of performance of their duties to the Funds. In addition, effective June 8, 2005, the Pacific Funds entered into an agreement with each of the Trustees which provides that it will indemnify and hold harmless each Trustee against any expenses actually and reasonably incurred by any Trustee in any proceeding arising out of or in connection with the Trustee’s services to the Funds, to the fullest extent permitted by the Pacific Funds’ Declaration of Trust and By-Laws, the general trust law of the State of Delaware, the Securities Act of 1933, and the 1940 Act, each as now or hereinafter in force. In the normal course of business, Pacific Funds enters into contracts with service providers and others that contain general indemnification clauses. The Pacific Funds’ maximum exposure under these arrangements and agreements is dependent on future claims that may be made against the Pacific Funds and/or the Trustees and, therefore, cannot be estimated; however, based on experience, the risk of loss from such claims is considered remote.
D-10
PACIFIC FUNDS
NOTES TO FINANCIAL STATEMENTS (Continued)
(Unaudited)
11. SHARES OF BENEFICIAL INTEREST
Changes in shares of beneficial interest of each Fund were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| PF Portfolio Optimization |
| PF Portfolio Optimization |
|
| PF Portfolio Optimization |
|
| PF Portfolio Optimization |
| |||||||||||||
|
|
| Period ended |
| Year ended |
| Period ended |
| Year ended |
|
| Period ended |
| Year ended |
|
| Period ended |
| Year ended |
| |||||
|
|
|
|
|
| ||||||||||||||||||||
Class A |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares sold |
|
| 434,942 |
|
| 885,426 |
|
| 625,592 |
|
| 1,627,957 |
|
| 2,517,600 |
|
| 4,366,916 |
|
| 2,507,548 |
|
| 4,361,474 |
|
Dividend and distribution reinvested |
|
| 9,215 |
|
| 21,363 |
|
| 37,859 |
|
| 42,617 |
|
| 114,969 |
|
| 112,606 |
|
| 105,372 |
|
| 95,303 |
|
Shares repurchased |
|
| (449,499 | ) |
| (762,116 | ) |
| (540,934 | ) |
| (972,075 | ) |
| (1,209,150 | ) |
| (1,355,461 | ) |
| (970,144 | ) |
| (806,023 | ) |
|
|
|
|
|
| ||||||||||||||||||||
Net increase (decrease) |
|
| (5,342 | ) |
| 144,673 |
|
| 122,517 |
|
| 698,499 |
|
| 1,423,419 |
|
| 3,124,061 |
|
| 1,642,776 |
|
| 3,650,754 |
|
Beginning shares outstanding |
|
| 956,555 |
|
| 811,882 |
|
| 2,602,609 |
|
| 1,904,110 |
|
| 8,227,963 |
|
| 5,103,902 |
|
| 7,777,140 |
|
| 4,126,386 |
|
|
|
|
|
|
| ||||||||||||||||||||
Ending shares outstanding |
|
| 951,213 |
|
| 956,555 |
|
| 2,725,126 |
|
| 2,602,609 |
|
| 9,651,382 |
|
| 8,227,963 |
|
| 9,419,916 |
|
| 7,777,140 |
|
|
|
|
|
|
| ||||||||||||||||||||
Class B |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares sold |
|
| 103,509 |
|
| 96,834 |
|
| 132,227 |
|
| 363,814 |
|
| 576,394 |
|
| 1,226,231 |
|
| 901,622 |
|
| 1,372,110 |
|
Dividend and distribution reinvested |
|
| 1,720 |
|
| 3,682 |
|
| 11,208 |
|
| 10,942 |
|
| 35,963 |
|
| 31,907 |
|
| 42,194 |
|
| 31,266 |
|
Shares repurchased |
|
| (59,071 | ) |
| (56,681 | ) |
| (61,553 | ) |
| (188,951 | ) |
| (289,571 | ) |
| (353,403 | ) |
| (241,804 | ) |
| (249,886 | ) |
|
|
|
|
|
| ||||||||||||||||||||
Net increase |
|
| 46,158 |
|
| 43,835 |
|
| 81,882 |
|
| 185,805 |
|
| 322,786 |
|
| 904,735 |
|
| 702,012 |
|
| 1,153,490 |
|
Beginning shares outstanding |
|
| 186,761 |
|
| 142,926 |
|
| 836,790 |
|
| 650,985 |
|
| 2,753,393 |
|
| 1,848,658 |
|
| 2,936,587 |
|
| 1,783,097 |
|
|
|
|
|
|
| ||||||||||||||||||||
Ending shares outstanding |
|
| 232,919 |
|
| 186,761 |
|
| 918,672 |
|
| 836,790 |
|
| 3,076,179 |
|
| 2,753,393 |
|
| 3,638,599 |
|
| 2,936,587 |
|
|
|
|
|
|
| ||||||||||||||||||||
Class C |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares sold |
|
| 288,470 |
|
| 847,070 |
|
| 527,839 |
|
| 1,257,672 |
|
| 2,107,433 |
|
| 3,597,268 |
|
| 1,969,934 |
|
| 3,645,475 |
|
Dividend and distribution reinvested |
|
| 10,419 |
|
| 19,630 |
|
| 31,185 |
|
| 28,411 |
|
| 101,354 |
|
| 88,500 |
|
| 104,903 |
|
| 81,073 |
|
Shares repurchased |
|
| (197,994 | ) |
| (643,389 | ) |
| (279,175 | ) |
| (576,175 | ) |
| (801,812 | ) |
| (969,387 | ) |
| (743,813 | ) |
| (708,630 | ) |
|
|
|
|
|
| ||||||||||||||||||||
Net increase |
|
| 100,895 |
|
| 223,311 |
|
| 279,849 |
|
| 709,908 |
|
| 1,406,975 |
|
| 2,716,381 |
|
| 1,331,024 |
|
| 3,017,918 |
|
Beginning shares outstanding |
|
| 1,102,373 |
|
| 879,062 |
|
| 2,203,704 |
|
| 1,493,796 |
|
| 7,721,642 |
|
| 5,005,261 |
|
| 7,556,920 |
|
| 4,539,002 |
|
|
|
|
|
|
| ||||||||||||||||||||
Ending shares outstanding |
|
| 1,203,268 |
|
| 1,102,373 |
|
| 2,483,553 |
|
| 2,203,704 |
|
| 9,128,617 |
|
| 7,721,642 |
|
| 8,887,944 |
|
| 7,556,920 |
|
|
|
|
|
|
| ||||||||||||||||||||
Class R (1) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares sold |
|
| 11,510 |
|
| 968 |
|
| 55,994 |
|
| 28,883 |
|
| 77,855 |
|
| 1,106 |
|
| 51,148 |
|
| 945 |
|
Dividend and distribution reinvested |
|
| 135 |
|
| 20 |
|
| 1,080 |
|
| 16 |
|
| 708 |
|
| 13 |
|
| 644 |
|
| 11 |
|
Shares repurchased |
|
| (12 | ) |
| (1 | ) |
| (11,970 | ) |
| (2,216 | ) |
| (153 | ) |
| — |
|
| (951 | ) |
| — |
|
|
|
|
|
|
| ||||||||||||||||||||
Net increase |
|
| 11,633 |
|
| 987 |
|
| 45,104 |
|
| 26,683 |
|
| 78,410 |
|
| 1,119 |
|
| 50,841 |
|
| 956 |
|
Beginning shares outstanding |
|
| 987 |
|
| — |
|
| 26,683 |
|
| — |
|
| 1,119 |
|
| — |
|
| 956 |
|
| — |
|
|
|
|
|
|
| ||||||||||||||||||||
Ending shares outstanding |
|
| 12,620 |
|
| 987 |
|
| 71,787 |
|
| 26,683 |
|
| 79,529 |
|
| 1,119 |
|
| 51,797 |
|
| 956 |
|
|
|
|
|
|
| ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| PF Portfolio Optimization |
|
| PF AllianceBernstein |
|
| PF Goldman Sachs |
|
| PF Janus Growth |
| ||||||||||||
|
|
| Period ended |
| Year ended |
|
| Period ended |
| Year ended |
|
| Period ended |
| Year ended |
|
| Period ended |
| Year ended |
| ||||
|
|
|
|
|
| ||||||||||||||||||||
Class A |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares sold |
|
| 1,154,085 |
|
| 1,777,284 |
|
| 384,097 |
|
| 1,918,744 |
|
| 1,213,504 |
|
| 2,355,270 |
|
| 765,342 |
|
| 2,394,848 |
|
Dividend and distribution reinvested |
|
| 68,780 |
|
| 35,610 |
|
| 141,952 |
|
| 64,399 |
|
| 75,909 |
|
| 79,702 |
|
| — |
|
| — |
|
Shares repurchased |
|
| (333,976 | ) |
| (376,012 | ) |
| (564,251 | ) |
| (2,058,171 | ) |
| (550,946 | ) |
| (1,414,937 | ) |
| (527,430 | ) |
| (658,698 | ) |
|
|
|
|
|
| ||||||||||||||||||||
Net increase (decrease) |
|
| 888,889 |
|
| 1,436,882 |
|
| (38,202 | ) |
| (75,028 | ) |
| 738,467 |
|
| 1,020,035 |
|
| 237,912 |
|
| 1,736,150 |
|
Beginning shares outstanding |
|
| 3,133,339 |
|
| 1,696,457 |
|
| 3,768,505 |
|
| 3,843,533 |
|
| 4,607,116 |
|
| 3,587,081 |
|
| 3,576,700 |
|
| 1,840,550 |
|
|
|
|
|
|
| ||||||||||||||||||||
Ending shares outstanding |
|
| 4,022,228 |
|
| 3,133,339 |
|
| 3,730,303 |
|
| 3,768,505 |
|
| 5,345,583 |
|
| 4,607,116 |
|
| 3,814,612 |
|
| 3,576,700 |
|
|
|
|
|
|
|
|
|
(1) | Operations commenced on September 30, 2005. |
|
|
(2) | Formerly named PF Lazard International Value Fund. |
D-11
PACIFIC FUNDS
NOTES TO FINANCIAL STATEMENTS (Continued)
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| PF Portfolio Optimization |
| PF AllianceBernstein |
| PF Goldman Sachs |
| PF Janus Growth |
| |||||||||||||||
|
|
| Period ended |
| Year ended |
| Period ended |
| Year ended |
| Period ended |
| Year ended |
| Period ended |
| Year ended |
| |||||||
|
|
|
|
|
| ||||||||||||||||||||
Class B |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares sold |
|
| 331,305 |
|
| 594,230 |
|
| 6,222 |
|
| 9,839 |
|
| 27 |
|
| 3,277 |
|
| 1,373 |
|
| 6,749 |
|
Dividend and distribution reinvested |
|
| 22,827 |
|
| 8,342 |
|
| 1,106 |
|
| 349 |
|
| 16 |
|
| 37 |
|
| — |
|
| — |
|
Shares repurchased |
|
| (42,863 | ) |
| (142,681 | ) |
| (975 | ) |
| (16,336 | ) |
| (419 | ) |
| (2,525 | ) |
| (454 | ) |
| (7,912 | ) |
|
|
|
|
|
| ||||||||||||||||||||
Net increase (decrease) |
|
| 311,269 |
|
| 459,891 |
|
| 6,353 |
|
| (6,148 | ) |
| (376 | ) |
| 789 |
|
| 919 |
|
| (1,163 | ) |
Beginning shares outstanding |
|
| 1,029,622 |
|
| 569,731 |
|
| 28,392 |
|
| 34,540 |
|
| 2,101 |
|
| 1,312 |
|
| 34,353 |
|
| 35,516 |
|
|
|
|
|
|
| ||||||||||||||||||||
Ending shares outstanding |
|
| 1,340,891 |
|
| 1,029,622 |
|
| 34,745 |
|
| 28,392 |
|
| 1,725 |
|
| 2,101 |
|
| 35,272 |
|
| 34,353 |
|
|
|
|
|
|
| ||||||||||||||||||||
Class C |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares sold |
|
| 822,098 |
|
| 1,710,940 |
|
| 16,636 |
|
| 34,299 |
|
| 25,588 |
|
| 40,587 |
|
| 36,891 |
|
| 107,126 |
|
Dividend and distribution reinvested |
|
| 51,565 |
|
| 22,473 |
|
| 3,723 |
|
| 1,409 |
|
| 466 |
|
| 804 |
|
| — |
|
| — |
|
Shares repurchased |
|
| (266,574 | ) |
| (907,226 | ) |
| (13,563 | ) |
| (25,891 | ) |
| (48,514 | ) |
| (39,847 | ) |
| (12,184 | ) |
| (77,577 | ) |
|
|
|
|
|
| ||||||||||||||||||||
Net increase (decrease) |
|
| 607,089 |
|
| 826,187 |
|
| 6,796 |
|
| 9,817 |
|
| (22,460 | ) |
| 1,544 |
|
| 24,707 |
|
| 29,549 |
|
Beginning shares outstanding |
|
| 2,460,223 |
|
| 1,634,036 |
|
| 103,049 |
|
| 93,232 |
|
| 60,409 |
|
| 58,865 |
|
| 74,689 |
|
| 45,140 |
|
|
|
|
|
|
| ||||||||||||||||||||
Ending shares outstanding |
|
| 3,067,312 |
|
| 2,460,223 |
|
| 109,845 |
|
| 103,049 |
|
| 37,949 |
|
| 60,409 |
|
| 99,396 |
|
| 74,689 |
|
|
|
|
|
|
| ||||||||||||||||||||
Class R (2) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares sold |
|
| 2,319 |
|
| 873 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dividend and distribution reinvested |
|
| 64 |
|
| 9 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares repurchased |
|
| (4 | ) |
| — |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
Net increase |
|
| 2,379 |
|
| 882 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Beginning shares outstanding |
|
| 882 |
|
| — |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
Ending shares outstanding |
|
| 3,261 |
|
| 882 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| PF Lazard Mid-Cap |
|
| PF Loomis Sayles |
|
| PF MFS International |
|
| PF NB Fasciano Small |
| ||||||||||||
|
|
| Period ended |
| Year ended |
|
| Period ended |
| Year ended |
|
| Period ended |
| Year ended |
|
| Period ended |
| Year ended |
| ||||
|
|
|
|
|
| ||||||||||||||||||||
Class A |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares sold |
|
| 2,816,854 |
|
| 1,132,097 |
|
| 929,795 |
|
| 1,063,228 |
|
| 409,951 |
|
| 1,562,089 |
|
| 1,421,858 |
|
| 1,444,000 |
|
Dividend and distribution reinvested |
|
| 67,747 |
|
| 121,770 |
|
| 219,374 |
|
| — |
|
| 114,672 |
|
| 60,347 |
|
| 2,389 |
|
| 153,201 |
|
Shares repurchased |
|
| (62,270 | ) |
| (1,548,817 | ) |
| (395,046 | ) |
| (3,729,244 | ) |
| (416,080 | ) |
| (1,186,840 | ) |
| (674,572 | ) |
| (43,156 | ) |
|
|
|
|
|
| ||||||||||||||||||||
Net increase (decrease) |
|
| 2,822,331 |
|
| (294,950 | ) |
| 754,123 |
|
| (2,666,016 | ) |
| 108,543 |
|
| 435,596 |
|
| 749,675 |
|
| 1,554,045 |
|
Beginning shares outstanding |
|
| 2,275,800 |
|
| 2,570,750 |
|
| 1,784,645 |
|
| 4,450,661 |
|
| 3,412,655 |
|
| 2,977,059 |
|
| 2,158,291 |
|
| 604,246 |
|
|
|
|
|
|
| ||||||||||||||||||||
Ending shares outstanding |
|
| 5,098,131 |
|
| 2,275,800 |
|
| 2,538,768 |
|
| 1,784,645 |
|
| 3,521,198 |
|
| 3,412,655 |
|
| 2,907,966 |
|
| 2,158,291 |
|
|
|
|
|
|
| ||||||||||||||||||||
Class B |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares sold |
|
| 941 |
|
| 3,658 |
|
| 1,327 |
|
| 12,711 |
|
| 6,392 |
|
| 8,423 |
|
| 1,507 |
|
| 11,955 |
|
Dividend and distribution reinvested |
|
| 175 |
|
| 290 |
|
| 5,755 |
|
| — |
|
| 994 |
|
| 447 |
|
| 43 |
|
| 5,357 |
|
Shares repurchased |
|
| (141 | ) |
| (1,224 | ) |
| (6,359 | ) |
| (9,488 | ) |
| (2,365 | ) |
| (11,069 | ) |
| (3,617 | ) |
| (2,934 | ) |
|
|
|
|
|
| ||||||||||||||||||||
Net increase (decrease) |
|
| 975 |
|
| 2,724 |
|
| 723 |
|
| 3,223 |
|
| 5,021 |
|
| (2,199 | ) |
| (2,067 | ) |
| 14,378 |
|
Beginning shares outstanding |
|
| 6,072 |
|
| 3,348 |
|
| 55,922 |
|
| 52,699 |
|
| 28,792 |
|
| 30,991 |
|
| 38,809 |
|
| 24,431 |
|
|
|
|
|
|
| ||||||||||||||||||||
Ending shares outstanding |
|
| 7,047 |
|
| 6,072 |
|
| 56,645 |
|
| 55,922 |
|
| 33,813 |
|
| 28,792 |
|
| 36,742 |
|
| 38,809 |
|
|
|
|
|
|
| ||||||||||||||||||||
Class C |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares sold |
|
| 5,381 |
|
| 14,242 |
|
| 13,190 |
|
| 44,754 |
|
| 25,051 |
|
| 26,568 |
|
| 13,443 |
|
| 8,092 |
|
Dividend and distribution reinvested |
|
| 342 |
|
| 673 |
|
| 12,412 |
|
| — |
|
| 2,021 |
|
| 880 |
|
| 59 |
|
| 10,234 |
|
Shares repurchased |
|
| (2,300 | ) |
| (10,154 | ) |
| (77,597 | ) |
| (25,957 | ) |
| (13,579 | ) |
| (15,296 | ) |
| (8,210 | ) |
| (19,570 | ) |
|
|
|
|
|
| ||||||||||||||||||||
Net increase (decrease) |
|
| 3,423 |
|
| 4,761 |
|
| (51,995 | ) |
| 18,797 |
|
| 13,493 |
|
| 12,152 |
|
| 5,292 |
|
| (1,244 | ) |
Beginning shares outstanding |
|
| 12,191 |
|
| 7,430 |
|
| 155,974 |
|
| 137,177 |
|
| 59,158 |
|
| 47,006 |
|
| 49,113 |
|
| 50,357 |
|
|
|
|
|
|
| ||||||||||||||||||||
Ending shares outstanding |
|
| 15,614 |
|
| 12,191 |
|
| 103,979 |
|
| 155,974 |
|
| 72,651 |
|
| 59,158 |
|
| 54,405 |
|
| 49,113 |
|
|
|
|
|
|
|
|
|
(1) | Formerly named PF Lazard International Value Fund. |
|
|
(2) | Operations commenced on September 30, 2005. |
|
|
(3) | Formerly named PF AIM Blue Chip Fund. |
|
|
(4) | Formerly named PF AIM Aggressive Growth Fund. |
D-12
PACIFIC FUNDS
NOTES TO FINANCIAL STATEMENTS (Continued)
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| PF Oppenheimer |
| PF Oppenheimer |
| PF PIMCO |
|
| PF PIMCO |
| ||||||||||||||
|
|
| Period ended |
|
| Period ended |
| Period ended |
| Period ended |
| Year ended |
|
| Year ended |
|
| Year ended |
|
| Year ended |
| |||
|
|
|
|
|
| ||||||||||||||||||||
Class A |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares sold |
|
| 1,220,193 |
|
| 5,972,403 |
|
| 575,759 |
|
| 2,771,483 |
|
| 1,561,460 |
|
| 3,383,468 |
|
| 1,085,524 |
|
| 4,059,745 |
|
Dividend and distribution reinvested |
|
| 53,603 |
|
| 7,279 |
|
| 131,316 |
|
| 21,372 |
|
| 134,045 |
|
| 146,352 |
|
| 117,952 |
|
| 230,857 |
|
Shares repurchased |
|
| (332,793 | ) |
| (927,460 | ) |
| (40,856 | ) |
| (3,338 | ) |
| (629,409 | ) |
| (876,919 | ) |
| (1,529,636 | ) |
| (1,146,399 | ) |
|
|
|
|
|
| ||||||||||||||||||||
Net increase (decrease) |
|
| 941,003 |
|
| 5,052,222 |
|
| 666,219 |
|
| 2,789,517 |
|
| 1,066,096 |
|
| 2,652,901 |
|
| (326,160 | ) |
| 3,144,203 |
|
Beginning shares outstanding |
|
| 5,052,222 |
|
| — |
|
| 2,789,517 |
|
| — |
|
| 6,895,086 |
|
| 4,242,185 |
|
| 6,613,457 |
|
| 3,469,254 |
|
|
|
|
|
|
| ||||||||||||||||||||
Ending shares outstanding |
|
| 5,993,225 |
|
| 5,052,222 |
|
| 3,455,736 |
|
| 2,789,517 |
|
| 7,961,182 |
|
| 6,895,086 |
|
| 6,287,297 |
|
| 6,613,457 |
|
|
|
|
|
|
| ||||||||||||||||||||
Class B |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares sold |
|
|
|
|
|
|
|
|
|
|
|
|
|
| 1,952 |
|
| 11,532 |
|
| 3,749 |
|
| 45,501 |
|
Dividend and distribution reinvested |
|
|
|
|
|
|
|
|
|
|
|
|
|
| 1,355 |
|
| 2,241 |
|
| 1,874 |
|
| 5,397 |
|
Shares repurchased |
|
|
|
|
|
|
|
|
|
|
|
|
|
| (17,042 | ) |
| (21,838 | ) |
| (33,435 | ) |
| (24,440 | ) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
Net increase (decrease) |
|
|
|
|
|
|
|
|
|
|
|
|
|
| (13,735 | ) |
| (8,065 | ) |
| (27,812 | ) |
| 26,458 |
|
Beginning shares outstanding |
|
|
|
|
|
|
|
|
|
|
|
|
|
| 105,342 |
|
| 113,407 |
|
| 141,192 |
|
| 114,734 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
Ending shares outstanding |
|
|
|
|
|
|
|
|
|
|
|
|
|
| 91,607 |
|
| 105,342 |
|
| 113,380 |
|
| 141,192 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
Class C |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares sold |
|
|
|
|
|
|
|
|
|
|
|
|
|
| 27,000 |
|
| 99,730 |
|
| 32,991 |
|
| 155,194 |
|
Dividend and distribution reinvested |
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2,969 |
|
| 4,421 |
|
| 5,541 |
|
| 17,224 |
|
Shares repurchased |
|
|
|
|
|
|
|
|
|
|
|
|
|
| (32,992 | ) |
| (130,230 | ) |
| (80,856 | ) |
| (298,792 | ) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
Net decrease |
|
|
|
|
|
|
|
|
|
|
|
|
|
| (3,023 | ) |
| (26,079 | ) |
| (42,324 | ) |
| (126,374 | ) |
Beginning shares outstanding |
|
|
|
|
|
|
|
|
|
|
|
|
|
| 208,701 |
|
| 234,780 |
|
| 417,220 |
|
| 543,594 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
Ending shares outstanding |
|
|
|
|
|
|
|
|
|
|
|
|
|
| 205,678 |
|
| 208,701 |
|
| 374,896 |
|
| 417,220 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| PF Pacific Life |
|
| PF Salomon Brothers |
|
| PF Van Kampen |
|
| PF Van Kampen |
| ||||||||||||
|
|
| Period ended |
|
| Year ended |
|
| Period ended |
| Year ended |
|
| Period ended |
| Year ended |
|
| Period ended |
| Year ended |
| |||
|
|
|
|
|
| ||||||||||||||||||||
Class A |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares sold |
|
| 29,642,076 |
|
| 24,759,184 |
|
| 724,688 |
|
| 1,753,040 |
|
| 665,544 |
|
| 3,608,114 |
|
| 1,261,319 |
|
| 910,063 |
|
Dividend and distribution reinvested |
|
| 409,402 |
|
| 576,288 |
|
| 198,498 |
|
| 9,102 |
|
| 104,510 |
|
| 145,079 |
|
| 260,274 |
|
| — |
|
Shares repurchased |
|
| (34,067,257 | ) |
| (30,404,735 | ) |
| (112,667 | ) |
| (3,504,272 | ) |
| (897,324 | ) |
| (751,477 | ) |
| (133,741 | ) |
| (1,611,772 | ) |
Converted from Class B and C shares |
|
| — |
|
| 2,021,733 |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
|
|
|
|
|
| ||||||||||||||||||||
Net increase (decrease) |
|
| (4,015,779 | ) |
| (3,047,530 | ) |
| 810,519 |
|
| (1,742,130 | ) |
| (127,270 | ) |
| 3,001,716 |
|
| 1,387,852 |
|
| (701,709 | ) |
Beginning shares outstanding |
|
| 19,294,569 |
|
| 22,342,099 |
|
| 2,718,894 |
|
| 4,461,024 |
|
| 4,831,519 |
|
| 1,829,803 |
|
| 3,427,275 |
|
| 4,128,984 |
|
|
|
|
|
|
| ||||||||||||||||||||
Ending shares outstanding |
|
| 15,278,790 |
|
| 19,294,569 |
|
| 3,529,413 |
|
| 2,718,894 |
|
| 4,704,249 |
|
| 4,831,519 |
|
| 4,815,127 |
|
| 3,427,275 |
|
|
|
|
|
|
| ||||||||||||||||||||
Class B |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares sold |
|
|
|
|
| 189,675 |
|
| 5,710 |
|
| 8,868 |
|
| 6,280 |
|
| 12,799 |
|
| 7,893 |
|
| 21,218 |
|
Dividend and distribution reinvested |
|
|
|
|
| 4,086 |
|
| 3,194 |
|
| 76 |
|
| 868 |
|
| 1,504 |
|
| 5,203 |
|
| — |
|
Shares repurchased |
|
|
|
|
| (82,618 | ) |
| (1,105 | ) |
| (8,228 | ) |
| (2,208 | ) |
| (3,772 | ) |
| (4,393 | ) |
| (14,229 | ) |
Converted to Class A shares |
|
|
|
|
| (783,748 | ) |
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
|
|
|
|
|
|
|
| ||||||||||||||||||
Net increase (decrease) |
|
|
|
|
| (672,605 | ) |
| 7,799 |
|
| 716 |
|
| 4,940 |
|
| 10,531 |
|
| 8,703 |
|
| 6,989 |
|
Beginning shares outstanding |
|
|
|
|
| 672,605 |
|
| 45,762 |
|
| 45,046 |
|
| 41,767 |
|
| 31,236 |
|
| 82,749 |
|
| 75,760 |
|
|
|
|
|
|
|
|
| ||||||||||||||||||
Ending shares outstanding |
|
|
|
|
| — |
|
| 53,561 |
|
| 45,762 |
|
| 46,707 |
|
| 41,767 |
|
| 91,452 |
|
| 82,749 |
|
|
|
|
|
|
|
|
| ||||||||||||||||||
Class C |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares sold |
|
|
|
|
| 2,003,182 |
|
| 34,844 |
|
| 18,566 |
|
| 18,233 |
|
| 40,851 |
|
| 23,378 |
|
| 85,413 |
|
Dividend and distribution reinvested |
|
|
|
|
| 9,277 |
|
| 9,687 |
|
| 177 |
|
| 1,424 |
|
| 3,362 |
|
| 14,440 |
|
| — |
|
Shares repurchased |
|
|
|
|
| (4,032,847 | ) |
| (21,333 | ) |
| (28,370 | ) |
| (17,292 | ) |
| (40,749 | ) |
| (52,650 | ) |
| (33,489 | ) |
Converted to Class A shares |
|
|
|
|
| (1,237,985 | ) |
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
|
|
|
|
|
|
|
| ||||||||||||||||||
Net increase (decrease) |
|
|
|
|
| (3,258,373 | ) |
| 23,198 |
|
| (9,627 | ) |
| 2,365 |
|
| 3,464 |
|
| (14,832 | ) |
| 51,924 |
|
Beginning shares outstanding |
|
|
|
|
| 3,258,373 |
|
| 128,140 |
|
| 137,767 |
|
| 73,728 |
|
| 70,264 |
|
| 215,357 |
|
| 163,433 |
|
|
|
|
|
|
|
|
| ||||||||||||||||||
Ending shares outstanding |
|
|
|
|
| — |
|
| 151,338 |
|
| 128,140 |
|
| 76,093 |
|
| 73,728 |
|
| 200,525 |
|
| 215,357 |
|
|
|
|
|
|
|
|
|
|
|
(1) | Operations commenced on September 30, 2005. These two funds offer Class A shares only. |
|
|
(2) | Class B and C shares of the PF Pacific Life Money Market Fund were converted to Class A shares on June 29, 2005. Only Class A shares are offered after that date. |
D-13
PACIFIC FUNDS
NOTES TO FINANCIAL STATEMENTS (Continued)
(Unaudited)
|
|
|
|
|
|
|
|
|
| PF Van Kampen |
| ||||
|
| Period ended |
| Year ended |
| ||
|
| ||||||
Class A |
|
|
|
|
|
|
|
Shares sold |
|
| 274,228 |
|
| 497,818 |
|
Dividend and distribution reinvested |
|
| 20,900 |
|
| 40,767 |
|
Shares repurchased |
|
| (514,748 | ) |
| (31,349 | ) |
|
| ||||||
Net increase (decrease) |
|
| (219,620 | ) |
| 507,236 |
|
Beginning shares outstanding |
|
| 1,982,607 |
|
| 1,475,371 |
|
|
| ||||||
Ending shares outstanding |
|
| 1,762,987 |
|
| 1,982,607 |
|
|
| ||||||
Class B |
|
|
|
|
|
|
|
Shares sold |
|
| 2,978 |
|
| 9,142 |
|
Dividend and distribution reinvested |
|
| 78 |
|
| 128 |
|
Shares repurchased |
|
| (1,834 | ) |
| (3,606 | ) |
|
| ||||||
Net increase |
|
| 1,222 |
|
| 5,664 |
|
Beginning shares outstanding |
|
| 7,518 |
|
| 1,854 |
|
|
| ||||||
Ending shares outstanding |
|
| 8,740 |
|
| 7,518 |
|
|
| ||||||
Class C |
|
|
|
|
|
|
|
Shares sold |
|
| 9,281 |
|
| 7,560 |
|
Dividend and distribution reinvested |
|
| 103 |
|
| 148 |
|
Shares repurchased |
|
| (6,114 | ) |
| (2,228 | ) |
|
| ||||||
Net increase |
|
| 3,270 |
|
| 5,480 |
|
Beginning shares outstanding |
|
| 8,897 |
|
| 3,417 |
|
|
| ||||||
Ending shares outstanding |
|
| 12,167 |
|
| 8,897 |
|
|
|
As of September 30, 2006, Pacific Life owned the following percentages of the total (aggregate of Classes A, B, and C) shares outstanding of each of the Funds:
|
|
|
|
|
PF Oppenheimer Emerging Markets |
|
| 22.8 | % |
| ||||
PF Pacific Money Market Fund |
|
| 0.1 | % |
As of September 30, 2006, each of the Portfolio Optimization Funds (aggregate of Classes A, B, C, and R) owned the following percentages of the total shares outstanding of each of the following Underlying Funds, as applicable:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Portfolio Optimization Funds |
| |||||||||||||
|
| |||||||||||||||
Underlying Fund |
| Portfolio |
| Portfolio |
| Portfolio |
| Portfolio |
| Portfolio |
| |||||
| ||||||||||||||||
PF AllianceBernstein International Value |
| 1.27 | % |
| 6.83 | % |
| 25.53 | % |
| 39.54 | % |
| 19.21 | % |
|
PF Goldman Sachs Short Duration Bond |
| 13.28 | % |
| 21.59 | % |
| 47.37 | % |
| 14.76 | % |
| N/A |
|
|
PF Janus Growth LT |
| 1.06 | % |
| 4.28 | % |
| 26.63 | % |
| 38.49 | % |
| 21.84 | % |
|
PF Lazard Mid-Cap Value |
| 0.95 | % |
| 6.34 | % |
| 33.16 | % |
| 39.13 | % |
| 19.43 | % |
|
PF Loomis Sayles Large-Cap Growth |
| 2.15 | % |
| 5.77 | % |
| 32.27 | % |
| 33.45 | % |
| 13.35 | % |
|
PF MFS International Large-Cap |
| 0.87 | % |
| 6.99 | % |
| 26.14 | % |
| 40.40 | % |
| 19.56 | % |
|
PF NB Fasciano Small Equity |
| N/A |
|
| 4.34 | % |
| 24.29 | % |
| 41.91 | % |
| 23.40 | % |
|
PF Oppenheimer Main Street Core |
| 2.36 | % |
| 7.39 | % |
| 31.49 | % |
| 40.82 | % |
| 17.94 | % |
|
PF Oppenheimer Emerging Markets |
| N/A |
|
| N/A |
|
| 26.60 | % |
| 34.29 | % |
| 16.31 | % |
|
PF PIMCO Managed Bond |
| 7.82 | % |
| 16.12 | % |
| 42.11 | % |
| 24.93 | % |
| N/A |
|
|
PF PIMCO Inflation Managed |
| 5.81 | % |
| 13.62 | % |
| 43.55 | % |
| 26.34 | % |
| N/A |
|
|
PF Pacific Life Money Market |
| 13.08 | % |
| 17.53 | % |
| N/A |
|
| N/A |
|
| N/A |
|
|
PF Salomon Brothers Large-Cap Value |
| 1.11 | % |
| 5.94 | % |
| 27.68 | % |
| 34.47 | % |
| 16.08 | % |
|
PF Van Kampen Comstock |
| 1.19 | % |
| 7.42 | % |
| 31.66 | % |
| 36.85 | % |
| 16.31 | % |
|
PF Van Kampen Mid-Cap Growth |
| N/A |
|
| 4.00 | % |
| 29.80 | % |
| 36.14 | % |
| 18.63 | % |
|
PF Van Kampen Real Estate |
| N/A |
|
| N/A |
|
| 31.45 | % |
| 43.28 | % |
| 21.48 | % |
|
D-14
PACIFIC FUNDS
DISCLOSURE OF FUND EXPENSES
(Unaudited)
We believe it is important for you to understand the impact of fees and expenses regarding your investment. All mutual funds have operating expenses. As a shareholder of a mutual fund, you incur ongoing costs, which include advisory fees and other fund expenses. The following example is intended to help you understand your ongoing costs (in dollars) of investing in each fund and to compare these costs with those of other mutual funds. The example is based on an investment of $1,000.00 made at the beginning of the period and held for the entire period April 1, 2006 to September 30, 2006.
ACTUAL EXPENSES
The first section of the table for each fund entitled “Actual Fund Return”, provides information about actual account values and actual expenses based on each fund’s actual performance and each fund’s actual expenses, after any applicable adviser reimbursement and fee waivers. The “Ending Account Value at 09/30/06” column is derived from the fund’s actual performance; the “Annualized Expense Ratio” column shows the fund’s actual annualized expense ratio; and the “Expenses Paid During the Period 04/01/06-09/30/06” column shows the dollar amount that would have been paid by you. All the information illustrated in the following table is based on the past 6-month period from April 1, 2006 to September 30, 2006.
You may use the information in this section, together with the amount you invested, to estimate the expenses that you paid over the period. To do so, for each fund in your account, simply divide that fund’s value by $1,000.00 (for example, an $8,600.00 fund value divided by $1,000.00 = 8.6), then multiply the result by the number given for your fund(s) in the “Expenses Paid During the Period 04/01/06-09/30/06” column.
HYPOTHETICAL EXAMPLE FOR COMPARISON PURPOSES
The second section of the table for each fund, entitled “Hypothetical”, provides information about hypothetical account values and hypothetical expenses based on a 5% per year hypothetical rate of return and actual fund’s expenses, after any applicable adviser reimbursement and fee waivers. It assumes that the fund had an annual 5% rate of return before expenses, but that the expense ratio is unchanged. The hypothetical account values and expenses may not be used to estimate the actual ending account values or expenses you paid for the period.
You may use the hypothetical example information to compare the ongoing costs of investing in the fund compared to other mutual funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of other mutual funds.
Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transaction costs. Therefore, the second section of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different mutual funds. In addition, if these other costs were included, your costs would have been higher.
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| Beginning |
| Ending |
| Annualized |
| Expenses |
| |||||||
PF Portfolio Optimization Model A |
| |||||||||||||||
| ||||||||||||||||
Actual Fund Return |
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Class A |
| $ | 1,000.00 |
|
| $ | 1,027.60 |
|
| 0.02 | % |
| $ | 0.10 |
|
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Class B |
|
| 1,000.00 |
|
|
| 1,025.30 |
|
| 0.52 | % |
|
| 2.64 |
|
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Class C |
|
| 1,000.00 |
|
|
| 1,025.50 |
|
| 0.52 | % |
|
| 2.64 |
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Class R |
|
| 1,000.00 |
|
|
| 1,028.60 |
|
| 0.02 | % |
|
| 0.10 |
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Hypothetical |
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Class A |
| $ | 1,000.00 |
|
| $ | 1,024.97 |
|
| 0.02 | % |
| $ | 0.10 |
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Class B |
|
| 1,000.00 |
|
|
| 1,022.46 |
|
| 0.52 | % |
|
| 2.64 |
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Class C |
|
| 1,000.00 |
|
|
| 1,022.46 |
|
| 0.52 | % |
|
| 2.64 |
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Class R |
|
| 1,000.00 |
|
|
| 1,024.97 |
|
| 0.02 | % |
|
| 0.10 |
|
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PF Portfolio Optimization Model B |
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Actual Fund Return |
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Class A |
| $ | 1,000.00 |
|
| $ | 1,025.70 |
|
| 0.02 | % |
| $ | 0.10 |
|
|
Class B |
|
| 1,000.00 |
|
|
| 1,023.70 |
|
| 0.52 | % |
|
| 2.64 |
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|
Class C |
|
| 1,000.00 |
|
|
| 1,023.70 |
|
| 0.52 | % |
|
| 2.64 |
|
|
Class R |
|
| 1,000.00 |
|
|
| 1,025.70 |
|
| 0.02 | % |
|
| 0.10 |
|
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Hypothetical |
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Class A |
| $ | 1,000.00 |
|
| $ | 1,024.97 |
|
| 0.02 | % |
| $ | 0.10 |
|
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Class B |
|
| 1,000.00 |
|
|
| 1,022.46 |
|
| 0.52 | % |
|
| 2.64 |
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Class C |
|
| 1,000.00 |
|
|
| 1,022.46 |
|
| 0.52 | % |
|
| 2.64 |
|
|
Class R |
|
| 1,000.00 |
|
|
| 1,024.97 |
|
| 0.02 | % |
|
| 0.10 |
|
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PF Portfolio Optimization Model C |
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Actual Fund Return |
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Class A |
| $ | 1,000.00 |
|
| $ | 1,021.10 |
|
| 0.00 | % (2) |
| $ | 0.00 | (2) |
|
Class B |
|
| 1,000.00 |
|
|
| 1,019.10 |
|
| 0.50 | % |
|
| 2.53 |
|
|
Class C |
|
| 1,000.00 |
|
|
| 1,019.20 |
|
| 0.50 | % |
|
| 2.53 |
|
|
Class R |
|
| 1,000.00 |
|
|
| 1,020.20 |
|
| 0.00 | % (2) |
|
| 0.00 | (2) |
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Hypothetical |
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Class A |
| $ | 1,000.00 |
|
| $ | 1,025.07 |
|
| 0.00 | % (2) |
| $ | 0.00 | (2) |
|
Class B |
|
| 1,000.00 |
|
|
| 1,022.56 |
|
| 0.50 | % |
|
| 2.54 |
|
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Class C |
|
| 1,000.00 |
|
|
| 1,022.56 |
|
| 0.50 | % |
|
| 2.54 |
|
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Class R |
|
| 1,000.00 |
|
|
| 1,025.07 |
|
| 0.00 | % (2) |
|
| 0.00 | (2) |
|
PF Portfolio Optimization Model D |
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Actual Fund Return |
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Class A |
| $ | 1,000.00 |
|
| $ | 1,017.30 |
|
| 0.00 | % |
| $ | 0.00 |
|
|
Class B |
|
| 1,000.00 |
|
|
| 1,015.60 |
|
| 0.50 | % |
|
| 2.53 |
|
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Class C |
|
| 1,000.00 |
|
|
| 1,014.80 |
|
| 0.50 | % |
|
| 2.53 |
|
|
Class R |
|
| 1,000.00 |
|
|
| 1,017.30 |
|
| 0.00 | % |
|
| 0.00 |
|
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Hypothetical |
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Class A |
| $ | 1,000.00 |
|
| $ | 1,025.07 |
|
| 0.00 | % |
| $ | 0.00 |
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Class B |
|
| 1,000.00 |
|
|
| 1,022.56 |
|
| 0.50 | % |
|
| 2.54 |
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Class C |
|
| 1,000.00 |
|
|
| 1,022.56 |
|
| 0.50 | % |
|
| 2.54 |
|
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Class R |
|
| 1,000.00 |
|
|
| 1,025.07 |
|
| 0.00 | % |
|
| 0.00 |
|
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| See explanation of references on page E-3 |
|
|
E-1 |
PACIFIC FUNDS
DISCLOSURE OF FUND EXPENSES (Continued)
(Unaudited)
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| Beginning |
| Ending |
| Annualized |
| Expenses |
| ||||||
PF Portfolio Optimization Model E |
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Actual Fund Return |
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Class A |
| $ | 1,000.00 |
| $ | 1,019.40 |
|
| 0.00 | % |
| $ | 0.00 |
|
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Class B |
|
| 1,000.00 |
|
| 1,017.00 |
|
| 0.50 | % |
|
| 2.53 |
|
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Class C |
|
| 1,000.00 |
|
| 1,017.80 |
|
| 0.50 | % |
|
| 2.53 |
|
|
Class R |
|
| 1,000.00 |
|
| 1,020.20 |
|
| 0.00 | % |
|
| 0.00 |
|
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Hypothetical |
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Class A |
| $ | 1,000.00 |
| $ | 1,025.07 |
|
| 0.00 | % |
| $ | 0.00 |
|
|
Class B |
|
| 1,000.00 |
|
| 1,022.56 |
|
| 0.50 | % |
|
| 2.54 |
|
|
Class C |
|
| 1,000.00 |
|
| 1,022.56 |
|
| 0.50 | % |
|
| 2.54 |
|
|
Class R |
|
| 1,000.00 |
|
| 1,025.07 |
|
| 0.00 | % |
|
| 0.00 |
|
|
PF AllianceBernstein International Value Fund (3) |
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Actual Fund Return |
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Class A |
| $ | 1,000.00 |
| $ | 1,033.70 |
|
| 1.78 | % |
| $ | 9.07 |
|
|
Class B |
|
| 1,000.00 |
|
| 1,031.20 |
|
| 2.28 | % |
|
| 11.61 |
|
|
Class C |
|
| 1,000.00 |
|
| 1,031.00 |
|
| 2.28 | % |
|
| 11.61 |
|
|
Hypothetical |
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Class A |
| $ | 1,000.00 |
| $ | 1,016.14 |
|
| 1.78 | % |
| $ | 9.00 |
|
|
Class B |
|
| 1,000.00 |
|
| 1,013.64 |
|
| 2.28 | % |
|
| 11.51 |
|
|
Class C |
|
| 1,000.00 |
|
| 1,013.64 |
|
| 2.28 | % |
|
| 11.51 |
|
|
PF Goldman Sachs Short Duration Bond Fund |
| ||||||||||||||
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Actual Fund Return |
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Class A |
| $ | 1,000.00 |
| $ | 1,019.20 |
|
| 1.52 | % |
| $ | 7.69 |
|
|
Class B |
|
| 1,000.00 |
|
| 1,017.60 |
|
| 2.02 | % |
|
| 10.22 |
|
|
Class C |
|
| 1,000.00 |
|
| 1,016.50 |
|
| 2.02 | % |
|
| 10.21 |
|
|
Hypothetical |
|
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Class A |
| $ | 1,000.00 |
| $ | 1,017.45 |
|
| 1.52 | % |
| $ | 7.69 |
|
|
Class B |
|
| 1,000.00 |
|
| 1,014.94 |
|
| 2.02 | % |
|
| 10.20 |
|
|
Class C |
|
| 1,000.00 |
|
| 1,014.94 |
|
| 2.02 | % |
|
| 10.20 |
|
|
PF Janus Growth LT Fund |
| ||||||||||||||
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Actual Fund Return |
|
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|
|
Class A |
| $ | 1,000.00 |
| $ | 998.40 |
|
| 1.68 | % |
| $ | 8.42 |
|
|
Class B |
|
| 1,000.00 |
|
| 995.80 |
|
| 2.18 | % |
|
| 10.91 |
|
|
Class C |
|
| 1,000.00 |
|
| 995.80 |
|
| 2.18 | % |
|
| 10.91 |
|
|
Hypothetical |
|
|
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|
Class A |
| $ | 1,000.00 |
| $ | 1,016.65 |
|
| 1.68 | % |
| $ | 8.49 |
|
|
Class B |
|
| 1,000.00 |
|
| 1,014.14 |
|
| 2.18 | % |
|
| 11.01 |
|
|
Class C |
|
| 1,000.00 |
|
| 1,014.14 |
|
| 2.18 | % |
|
| 11.01 |
|
|
PF Lazard Mid-Cap Value Fund |
| ||||||||||||||
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Actual Fund Return |
|
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|
|
Class A |
| $ | 1,000.00 |
| $ | 1,029.30 |
|
| 1.76 | % |
| $ | 8.95 |
|
|
Class B |
|
| 1,000.00 |
|
| 1,026.60 |
|
| 2.26 | % |
|
| 11.48 |
|
|
Class C |
|
| 1,000.00 |
|
| 1,026.60 |
|
| 2.26 | % |
|
| 11.48 |
|
|
Hypothetical |
|
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Class A |
| $ | 1,000.00 |
| $ | 1,016.24 |
|
| 1.76 | % |
| $ | 8.90 |
|
|
Class B |
|
| 1,000.00 |
|
| 1,013.74 |
|
| 2.26 | % |
|
| 11.41 |
|
|
Class C |
|
| 1,000.00 |
|
| 1,013.74 |
|
| 2.26 | % |
|
| 11.41 |
|
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|
PF Loomis Sayles Large-Cap Growth Fund |
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Actual Fund Return |
|
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| ||
Class A |
| $ | 1,000.00 |
| $ | 905.90 |
|
| 1.87 | % |
| $ | 8.93 |
|
|
Class B |
|
| 1,000.00 |
|
| 903.70 |
|
| 2.37 | % |
|
| 11.31 |
|
|
Class C |
|
| 1,000.00 |
|
| 903.50 |
|
| 2.37 | % |
|
| 11.31 |
|
|
Hypothetical |
|
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|
Class A |
| $ | 1,000.00 |
| $ | 1,015.69 |
|
| 1.87 | % |
| $ | 9.45 |
|
|
Class B |
|
| 1,000.00 |
|
| 1,013.19 |
|
| 2.37 | % |
|
| 11.96 |
|
|
Class C |
|
| 1,000.00 |
|
| 1,013.19 |
|
| 2.37 | % |
|
| 11.96 |
|
|
PF MFS International Large-Cap Fund |
| ||||||||||||||
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|
Actual Fund Return |
|
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|
Class A |
| $ | 1,000.00 |
| $ | 1,065.30 |
|
| 1.98 | % |
| $ | 10.25 |
|
|
Class B |
|
| 1,000.00 |
|
| 1,062.60 |
|
| 2.48 | % |
|
| 12.82 |
|
|
Class C |
|
| 1,000.00 |
|
| 1,062.50 |
|
| 2.48 | % |
|
| 12.82 |
|
|
Hypothetical |
|
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|
Class A |
| $ | 1,000.00 |
| $ | 1,015.14 |
|
| 1.98 | % |
| $ | 10.00 |
|
|
Class B |
|
| 1,000.00 |
|
| 1,012.63 |
|
| 2.48 | % |
|
| 12.51 |
|
|
Class C |
|
| 1,000.00 |
|
| 1,012.63 |
|
| 2.48 | % |
|
| 12.51 |
|
|
PF NB Fasciano Small Equity Fund |
| ||||||||||||||
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|
Actual Fund Return |
|
|
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|
|
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|
|
Class A |
| $ | 1,000.00 |
| $ | 918.10 |
|
| 1.92 | % |
| $ | 9.23 |
|
|
Class B |
|
| 1,000.00 |
|
| 915.10 |
|
| 2.42 | % |
|
| 11.62 |
|
|
Class C |
|
| 1,000.00 |
|
| 916.10 |
|
| 2.42 | % |
|
| 11.62 |
|
|
Hypothetical |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class A |
| $ | 1,000.00 |
| $ | 1,015.44 |
|
| 1.92 | % |
| $ | 9.70 |
|
|
Class B |
|
| 1,000.00 |
|
| 1,012.94 |
|
| 2.42 | % |
|
| 12.21 |
|
|
Class C |
|
| 1,000.00 |
|
| 1,012.94 |
|
| 2.42 | % |
|
| 12.21 |
|
|
PF Oppenheimer Main Street Core Fund |
| ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Actual Fund Return |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class A |
| $ | 1,000.00 |
| $ | 1,023.90 |
|
| 1.57 | % |
| $ | 7.97 |
|
|
Hypothetical |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class A |
| $ | 1,000.00 |
| $ | 1,017.20 |
|
| 1.57 | % |
| $ | 7.94 |
|
|
PF Oppenheimer Emerging Markets Fund |
| ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Actual Fund Return |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class A |
| $ | 1,000.00 |
| $ | 963.50 |
|
| 1.92 | % |
| $ | 9.45 |
|
|
Hypothetical |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class A |
| $ | 1,000.00 |
| $ | 1,015.44 |
|
| 1.92 | % |
| $ | 9.70 |
|
|
PF PIMCO Managed Bond Fund |
| ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Actual Fund Return |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class A |
| $ | 1,000.00 |
| $ | 1,033.50 |
|
| 1.52 | % |
| $ | 7.75 |
|
|
Class B |
|
| 1,000.00 |
|
| 1,031.00 |
|
| 2.02 | % |
|
| 10.28 |
|
|
Class C |
|
| 1,000.00 |
|
| 1,029.90 |
|
| 2.02 | % |
|
| 10.28 |
|
|
Hypothetical |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class A |
| $ | 1,000.00 |
| $ | 1,017.45 |
|
| 1.52 | % |
| $ | 7.69 |
|
|
Class B |
|
| 1,000.00 |
|
| 1,014.94 |
|
| 2.02 | % |
|
| 10.20 |
|
|
Class C |
|
| 1,000.00 |
|
| 1,014.94 |
|
| 2.02 | % |
|
| 10.20 |
|
|
|
|
| See explanation of references on page E-3 |
| |
E-2 |
PACIFIC FUNDS
DISCLOSURE OF FUND EXPENSES (Continued)
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Beginning |
| Ending |
| Annualized |
| Expenses |
| ||||||
PF PIMCO Inflation Managed Fund |
| ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||
Actual Fund Return |
|
|
|
|
|
|
|
|
|
|
|
|
| ||
Class A |
| $ | 1,000.00 |
| $ | 1,035.90 |
|
| 1.52 | % |
| $ | 7.76 |
|
|
Class B |
|
| 1,000.00 |
|
| 1,032.80 |
|
| 2.02 | % |
|
| 10.29 |
|
|
Class C |
|
| 1,000.00 |
|
| 1,032.70 |
|
| 2.02 | % |
|
| 10.29 |
|
|
Hypothetical |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class A |
| $ | 1,000.00 |
| $ | 1,017.45 |
|
| 1.52 | % |
| $ | 7.69 |
|
|
Class B |
|
| 1,000.00 |
|
| 1,014.94 |
|
| 2.02 | % |
|
| 10.20 |
|
|
Class C |
|
| 1,000.00 |
|
| 1,014.94 |
|
| 2.02 | % |
|
| 10.20 |
|
|
PF Pacific Life Money Market Fund |
| ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Actual Fund Return |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class A |
| $ | 1,000.00 |
| $ | 1,020.30 |
|
| 1.08 | % |
| $ | 5.47 |
|
|
Hypothetical |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class A |
| $ | 1,000.00 |
| $ | 1,019.65 |
|
| 1.08 | % |
| $ | 5.47 |
|
|
PF Salomon Brothers Large-Cap Value Fund |
| ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Actual Fund Return |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class A |
| $ | 1,000.00 |
| $ | 1,041.30 |
|
| 1.77 | % |
| $ | 9.06 |
|
|
Class B |
|
| 1,000.00 |
|
| 1,038.50 |
|
| 2.27 | % |
|
| 11.60 |
|
|
Class C |
|
| 1,000.00 |
|
| 1,038.60 |
|
| 2.27 | % |
|
| 11.60 |
|
|
Hypothetical |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class A |
| $ | 1,000.00 |
| $ | 1,016.19 |
|
| 1.77 | % |
| $ | 8.95 |
|
|
Class B |
|
| 1,000.00 |
|
| 1,013.69 |
|
| 2.27 | % |
|
| 11.46 |
|
|
Class C |
|
| 1,000.00 |
|
| 1,013.69 |
|
| 2.27 | % |
|
| 11.46 |
|
|
PF Van Kampen Comstock Fund |
| ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Actual Fund Return |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class A |
| $ | 1,000.00 |
| $ | 1,058.90 |
|
| 1.88 | % |
| $ | 9.70 |
|
|
Class B |
|
| 1,000.00 |
|
| 1,055.30 |
|
| 2.38 | % |
|
| 12.26 |
|
|
Class C |
|
| 1,000.00 |
|
| 1,056.10 |
|
| 2.38 | % |
|
| 12.27 |
|
|
Hypothetical |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class A |
| $ | 1,000.00 |
| $ | 1,015.64 |
|
| 1.88 | % |
| $ | 9.50 |
|
|
Class B |
|
| 1,000.00 |
|
| 1,013.14 |
|
| 2.38 | % |
|
| 12.01 |
|
|
Class C |
|
| 1,000.00 |
|
| 1,013.14 |
|
| 2.38 | % |
|
| 12.01 |
|
|
PF Van Kampen Mid-Cap Growth Fund |
| ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Actual Fund Return |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class A |
| $ | 1,000.00 |
| $ | 923.60 |
|
| 1.82 | % |
| $ | 8.78 |
|
|
Class B |
|
| 1,000.00 |
|
| 921.10 |
|
| 2.32 | % |
|
| 11.17 |
|
|
Class C |
|
| 1,000.00 |
|
| 921.80 |
|
| 2.32 | % |
|
| 11.18 |
|
|
Hypothetical |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class A |
| $ | 1,000.00 |
| $ | 1,015.94 |
|
| 1.82 | % |
| $ | 9.20 |
|
|
Class B |
|
| 1,000.00 |
|
| 1,013.44 |
|
| 2.32 | % |
|
| 11.71 |
|
|
Class C |
|
| 1,000.00 |
|
| 1,013.44 |
|
| 2.32 | % |
|
| 11.71 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PF Van Kampen Real Estate Fund |
| ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||
Actual Fund Return |
|
|
|
|
|
|
|
|
|
|
|
|
| ||
Class A |
| $ | 1,000.00 |
| $ | 1,081.90 |
|
| 2.03 | % |
| $ | 10.59 |
|
|
Class B |
|
| 1,000.00 |
|
| 1,079.80 |
|
| 2.53 | % |
|
| 13.19 |
|
|
Class C |
|
| 1,000.00 |
|
| 1,079.10 |
|
| 2.53 | % |
|
| 13.19 |
|
|
Hypothetical |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class A |
| $ | 1,000.00 |
| $ | 1,014.89 |
|
| 2.03 | % |
| $ | 10.25 |
|
|
Class B |
|
| 1,000.00 |
|
| 1,012.38 |
|
| 2.53 | % |
|
| 12.76 |
|
|
Class C |
|
| 1,000.00 |
|
| 1,012.38 |
|
| 2.53 | % |
|
| 12.76 |
|
|
|
|
(1) | Expenses paid during the period are equal to the fund’s annualized expense ratio (shown in the table above), multiplied by the average account value over the period, multiplied by the number of days in the most recent fiscal half-year or applicable period, then divided by 365 days. |
|
|
(2) | Amount respresents less than $0.005 or 0.005%. |
|
|
(3) | Formerly named PF Lazard International Value Fund. |
E-3
PACIFIC FUNDS
TRUSTEES AND OFFICERS INFORMATION
(Unaudited)
The business and affairs of the Funds are managed under the direction of the Board of Trustees under the Pacific Funds’ Declaration of Trust. Information pertaining to the trustees and officers of the Funds is set forth below. Trustees who are not deemed to be “interested persons” of the Funds, as defined in the 1940 Act, are referred to as “Independent Trustees.” Certain trustees and officers are deemed to be “interested persons” of the Funds and thus are referred to as “Interested Persons,” because of their positions with Pacific Life. The Funds’ Statement of Additional Information (SAI) includes additional information about the trustees and is available without charge, upon request, by calling the Funds toll-free at 1-800-722-2333.
The address of each trustee and officer, is c/o Pacific Funds, 700 Newport Center Drive, Newport Beach, CA 92660.
|
|
|
|
|
|
|
Name and Age |
| Position(s) held with Fund |
| Current Directorship(s) Held and |
| Number of |
|
|
| ||||
INDEPENDENT TRUSTEES |
|
|
|
|
|
|
|
|
|
|
|
|
|
Frederick L. Blackmon |
| Trustee since 9/13/05 |
| Trustee (1/05 to present) of Pacific Select Fund; Director (2005 to present) of Trustmark Mutual Holding Company; Former Executive Vice President and Chief Financial Officer (1995 to 2003) of Zurich Life and has been retired since that time; Executive Vice President and Chief Financial Officer (1989 to 1995) of Alexander Hamilton Life Insurance Company (subsidiary of Household International); Former Member, Board of Regents (1993 to 1996), Eastern Michigan University; and Former Member, Board of Governors (1994 to 1999) of Cranbrook Schools. |
| 54 |
|
|
|
|
|
|
|
Gale K. Caruso |
| Trustee since 1/01/06 |
| Trustee (1/06 to present) of Pacific Select Fund; Former President and Chief Executive Officer (1999 to 2003) of Zurich Life; Former Chairman, President and Chief Executive Officer of Scudder Canada Investor Services, Ltd. and Managing Director of Scudder Kemper Investments; Member of the Board of Directors of LandAmerica Financial Group, Inc.; Member of the Advisory Council of the Trust for Public Land in Maine; Member of Editorial Advisory Board for The Journal of Risk Finance; Member of the Board of Directors of Make-A-Wish of Maine; and Former Member, Board of Directors of the Illinois Life Insurance Council. |
| 54 |
|
|
|
|
|
|
|
Lucie H. Moore |
| Trustee since 6/12/01 |
| Trustee (10/98 to present) of Pacific Select Fund; Vice Chairman of the Board of Trustees, The Pegasus School; Chairman of the Development Committee of the Board of Directors, Homeword; Advisory Board, Court Appointed Special Advocates (CASA) of Orange County; and Former Partner (1994) with Gibson, Dunn & Crutcher (Law). |
| 54 |
|
|
|
|
|
|
|
Nooruddin (Rudy) S. |
| Trustee since 9/13/05 |
| Trustee (1/05 to present) of Pacific Select Fund; Former President (1997 to 2000) of Transamerica Insurance and Investment Group and has been retired since that time; Former President (1994 to 1997) of Transamerica Asset Management; Former Chairman and Chief Executive Officer (1995 to 2000) of Transamerica Premier Funds (Mutual Fund); and Former Director (1994 to 2000) of various Transamerica Life Companies. |
| 54 |
See explanation of symbols on page E-7
E-4
PACIFIC FUNDS
TRUSTEES AND OFFICERS INFORMATION (Continued)
(Unaudited)
|
|
|
|
|
|
|
Name and Age |
| Position(s) held with Fund |
| Current Directorship(s) Held and |
| Number of |
|
|
| ||||
INDEPENDENT TRUSTEES |
|
|
|
|
|
|
|
|
|
|
|
|
|
G. Thomas Willis |
| Trustee since 2/24/04 |
| Trustee (11/03 to present) of Pacific Select Fund; Certified Public Accountant in California (1967 to present); Audit Partner (1976 to 2002) of PricewaterhouseCoopers LLP (Accounting and Auditing) and has been retired since that time. |
| 54 |
|
|
|
|
|
|
|
INTERESTED PERSONS |
|
|
|
|
|
|
Thomas C. Sutton |
| Chief Executive Officer since 11/14/05 and Chairman of the Board and Trustee since 6/12/01 |
| Chairman of the Board, Director and Chief Executive Officer (8/97 to present) of Pacific Mutual Holding Company and Pacific LifeCorp; Chairman of the Board and Chief Executive Officer (1/90 to present), and Director (9/87 to present) of Pacific Life, and similar positions with other subsidiaries and affiliates of Pacific Life; Director of The Irvine Company (Real Estate); Director of Edison International (Utilities); Former Director of Newhall Land & Farming (2004); and Chief Executive Officer (11/05 to present), Chairman of the Board and Trustee (7/87 to present) of Pacific Select Fund. |
| 54 |
|
|
|
|
|
|
|
James T. Morris |
| President since 11/14/05 (Executive Vice President |
| Chief Operating Officer (1/06 to present), and Chief Insurance Officer and Executive Vice President (7/05 to 1/06) of Pacific Mutual Holding Company and Pacific LifeCorp; Chief Operating Officer (1/06 to present), Chief Insurance Officer (4/05 to 1/06), Executive Vice President (1/02 to 1/06), Senior Vice President (4/96 to 1/02), and Vice President (4/90 to 4/96) of Pacific Life, and similar positions with other subsidiaries and affiliates of Pacific Life; Director (4/06 to present), Chief Operating Officer (1/06 to present), Chief Insurance Officer (4/05 to 1/06), Executive Vice President (1/02 to 1/06), and Senior Vice President (8/99 to 1/02) of Pacific Life & Annuity Company (PL&A); Director and President (12/05 to present) of Pacific Alliance Reinsurance Ltd.; Director (2/06 to present) of Pacific Life & Annuity Services, Inc.; Director (4/06 to present) of Confederation Life Insurance & Annuity Company; and President (11/05 to present) and Executive Vice President (6/05 to 11/05) of Pacific Select Fund. |
| 54 |
See explanation of symbols on page E-7
E-5
PACIFIC FUNDS
TRUSTEES AND OFFICERS INFORMATION (Continued)
(Unaudited)
|
|
|
|
|
|
|
Name and Age |
| Position(s) held with Fund |
| Current Directorship(s) Held and Principal Occupation(s) |
| Number of Portfolios/Funds in Fund Complex Overseen** |
|
|
| ||||
INTERESTED PERSONS |
|
|
|
|
|
|
|
|
|
|
|
|
|
Mary Ann Brown |
| Executive Vice President since 6/20/06 |
| Senior Vice President (5/06 to present) of Pacific LifeCorp; Senior Vice President (3/05 to present) of Pacific Life; Trustee (9/05 to present), Pacific Life Employees Retirement Plan of Pacific Life; Current and Prior Board Member and Vice Chairman (8/01 to present) National Association of Variable Annuities (NAVA); Chairman (7/04 to 10/05) of NAVA; Senior Vice President (7/03 to 11/03), Finance, New York Life Insurance Company; MetLife, Inc. (12/98 to 6/03), Senior Vice President and Head of Individual Business Product Management (12/98 to 7/02) responsibilities included: President of New England Products and Services; Chairman, Security First Group (later Met Life Investors); Chairman, Chief Executive Officer and President, New England Pension and Annuity Company; Board Member, New England Zenith Funds; Board Member, Reinsurance Group of America, Chairman and Chief Executive Officer of Exeter Reinsurance Company, Ltd.; Chairman and Chief Executive Officer of Missouri Reinsurance Company, Ltd; Chairman of Underwriting Policy and Rate Setting Committees; Senior Vice President and Chief Actuary, MetLife, Inc. (7/02 to 6/03); Director and Senior Vice President (12/05 to present) of Pacific Alliance Reinsurance Ltd; and Executive Vice President (6/06 to present) of Pacific Select Fund. |
| 54 |
|
|
|
|
|
|
|
Robin S. Yonis |
| Vice President and General Counsel since 6/12/01 |
| Vice President (4/04 to present) and Investment Counsel of Pacific Life and PL&A; Assistant Vice President (11/93 to 4/04) and Investment Counsel of Pacific Life; Assistant Vice President (8/99 to 4/04) and Investment Counsel of PL&A; and Vice President and General Counsel (4/05 to present) of Pacific Select Fund. |
| 54 |
|
|
|
|
|
|
|
Brian D. Klemens |
| Vice President and |
| Vice President and Treasurer (6/99 to present) of Pacific Mutual Holding Company and Pacific Life Corp: Vice President and Treasurer (12/98 to present) of Pacific Life, and similar positions with other subsidiaries and affiliates of Pacific Life; and Vice President and Treasurer (4/96 to present) of Pacific Select Fund. |
| 54 |
|
|
|
|
|
|
|
Sharon E. Pacheco |
| Vice President and Chief Compliance Officer since 6/4/04 |
| Vice President and Chief Compliance Officer (11/03 to present) of Pacific Mutual Holding Company and Pacific LifeCorp; Vice President (2/00 to present) and Chief Compliance Officer (1/03 to present ), and Assistant Vice President (11/97 to 2/00) of Pacific Life; Vice President (4/00 to present) and Chief Compliance Officer (1/03 to present), and Assistant Vice President (8/99 to 4/00) of PL&A; and Vice President and Chief Compliance Officer (6/04 to present) of Pacific Select Fund. |
| 54 |
See explanation of symbols on page E-7
E-6
PACIFIC FUNDS
TRUSTEES AND OFFICERS INFORMATION (Continued)
(Unaudited)
|
|
|
|
|
|
|
Name and Age |
| Position(s) held with Fund |
| Current Directorship(s) Held and |
| Number of |
|
|
| ||||
INTERESTED PERSONS |
|
|
|
|
|
|
|
|
|
|
|
|
|
Eddie Tung |
| Vice President and Assistant Treasurer since 11/14/05 |
| Assistant Vice President (4/03 to present) and Director (4/00 to 4/03) of Variable Products Accounting, Pacific Life; and Assistant Vice President and Assistant Treasurer (11/05 to present) of Pacific Select Fund. |
| 54 |
|
|
|
|
|
|
|
Howard T. Hirakawa |
| Vice President since 6/20/06 |
| Vice President (4/05 to present), Assistant Vice President (4/00 to 4/05) of Pacific Life; and Vice President (6/06 to present) of Pacific Select Fund. |
| 54 |
|
|
|
|
|
|
|
Laurene E. MacElwee |
| Vice President and Assistant Secretary since 4/04/05 (Assistant Vice President 6/13/01 to 4/03/05) |
| Assistant Vice President (4/02 to present) and Director (4/00 to 4/02) of Variable Products & Fund Compliance, Pacific Life; and Assistant Vice President and Assistant Secretary (4/05 to present) of Pacific Select Fund. |
| 54 |
|
|
|
|
|
|
|
Katayoun Mobedshahi |
| Vice President and Assistant Secretary since 4/04/05 |
| Assistant Vice President and Investment Counsel (2/05 to present) of Pacific Life; Associate (5/03 to 2/05), Stradley Ronon Stevens & Young, LLP; Senior Counsel (4/01 to 5/03), Securities & Exchange Commission; and Assistant Vice President and Assistant Secretary (4/05 to present) of Pacific Select Fund. |
| 54 |
|
|
|
|
|
|
|
Audrey L. Milfs |
| Secretary since 6/12/01 |
| Vice President and Secretary (8/97 to present) of Pacific Mutual Holding Company and Pacific LifeCorp; Director (8/97 to present), Vice President (4/91 to present), and Secretary (7/83 to present) of Pacific Life, and similar positions with other subsidiaries of Pacific Life; and Secretary (7/87 to present) of Pacific Select Fund. |
| 54 |
|
|
|
|
|
|
|
|
|
* | A trustee serves until he or she resigns, retires, or his or her successor is elected and qualified. |
|
|
** | As of September 30, 2006, the “Fund Complex” consisted of Pacific Select Fund (33 portfolios) and Pacific Funds (21 funds). |
E-7
PACIFIC FUNDS
APPROVAL OF TRANSFER OF FUND MANAGEMENT AGREEMENT
(Unaudited)
The Board of Trustees (the “Board”) of Pacific Funds (the “Trust”) oversees the management of each of the separate funds of the Trust (each a “Fund” and collectively, the “Funds”) and, as required by Section 15(c) of the Investment Company Act of 1940, as amended (the “1940 Act”), initially approves the first two-year term, and thereafter determines annually whether to renew, the investment advisory agreement (the “Advisory Agreement”) with Pacific Life Insurance Company (“Pacific Life”) and Fund Management Agreements with the various sub-advisers, or “Fund Managers.” Pacific Life serves as the investment adviser for all of the Funds and manages six Funds directly. For the other Funds, Pacific Life has retained other firms to serve as Fund Managers under Pacific Life’s supervision. The Board, including all of the Independent Trustees, last renewed the Advisory Agreement and applicable Fund Management Agreements at an in-person meeting of the Trustees held on November 14, 2005. The description below does not relate to the approvals at that meeting or an approval of a sub-adviser under Section 15(c), but to an approval to transfer a sub-advisory agreement among affiliates as described below that occurred during the fiscal period April 1, 2006 through September 30, 2006. The Independent Trustees were advised by independent legal counsel with respect to this and other relevant matters. The approval determination was made on the basis of each Independent Trustee’s business judgment after consideration of all the information presented. Individual Trustees may have given different weight to certain factors and assigned various degrees of materiality to information received in connection with the approval process.
PF Salomon Brothers Large-Cap Value Fund
At an in-person meeting on September 19, 2006, the Board, including all of the Independent Trustees, approved the transfer of a Fund Management Agreement (“Agreement”) for the PF Salomon Brothers Large-Cap Value Fund (the “Fund”), from Salomon Brothers Asset Management, Inc (“Salomon Brothers”), a wholly-owned subsidiary of Legg Mason, Inc. (“Legg Mason”), to CAM North America LLC (“CAM NA”) (the “transfer”). As part of an internal reorganization by Legg Mason, CAM NA, also a wholly-owned subsidiary of Legg Mason, will serve as the new Fund Manager effective October 1, 2006. CAM NA had also represented that during October 2006, its name will change to ClearBridge Advisors LLC (“ClearBridge”).
The Board received certain informational materials from Legg Mason, including a legal opinion (the “Opinion”) of counsel to Legg Mason, dated June 26, 2006, indicating that the transfer would not result in a change of the actual control or management of the organization serving as Fund Manager to the Fund and that therefore the transfer would not result in an “assignment” of the Agreement as that term is defined in the 1940 Act. In approving the transfer of the Agreement from Salomon Brothers to CAM NA, the Board considered, among other things, that (i) no material changes were expected in the personnel and day-to-day operations of the area responsible for management of the Fund, (ii) no material changes were expected in the management of the Fund, (iii) no material changes were expected in the nature or level of services provided, (iv) no changes were expected in the advisory or management fee schedules, and (v) Pacific Life, as investment adviser, recommended the transfer.
The Board is scheduled to consider re-approval of the Agreement for another one-year term at its November 2006 meeting. At that time the Board will consider several factors relevant to the consideration of the Agreement, including investment performance, fees and the services provided under the contracts.
E-8
PACIFIC FUNDS
WHERE TO GO FOR MORE INFORMATION
(Unaudited)
Availability of Quarterly Holdings
The Funds will file Form N-Q (complete schedules of portfolio holdings) with the Securities and Exchange Commission (the “SEC”) for the first and third quarters of each fiscal year not later than 60 days after the close of the applicable quarter end. The Funds’ Form N-Q, when required to be filed pursuant to applicable regulations, will be available after filing (i) on the SEC’s Web site at http://www.sec.gov; (ii) for review and copying at the SEC’s Public Reference Room in Washington, D.C. (Information on the operation of the Public Reference Room may be obtained by calling the SEC at 1-800-SEC-0330); and (iii) on the Funds’ Webpage at http://www.PacificLife.com. The SEC may charge you a fee for this information.
Availability of Proxy Voting Policies
A description of the Proxy Voting Policies and Procedures that the Funds use to determine how to vote proxies relating to fund securities is described in the Funds’ Statement of Additional Information, which is available (i) upon request, without charge, by calling 1-800-722-2333; (ii) on the Funds’ Webpage at http://www.PacificLife.com; and (iii) on the SEC’s Web site at http://www.sec.gov.
Availability of Proxy Voting Record
The Funds file, by August 31 of each year, information regarding how the Funds’ managers voted proxies relating to portfolio securities during the most recent twelve-month period ended June 30. Such information is available after filing (i) on the Funds’ Webpage at http://www.PacificLife.com; and (ii) on the SEC’s Web site at http://www.sec.gov.
Availability of a Complete Schedule of Investments
The Funds’ annual and semi-annual reports may contain a summary schedule of investments (SOI) for certain funds. A complete schedule for each summary SOI presented is available (i) on the Funds’ Webpage at http://www.PacificLife.com; (ii) on the SEC’s Web site at http://www.sec.gov; and (iii) upon request, without charge, by calling 1-800-722-2333.
E-9
[THIS PAGE INTENTIONALLY LEFT BLANK]
PACIFIC FUNDS
SEMI-ANNUAL REPORT
as of September 30, 2006
PACIFIC FUNDS
P.O. Box 9768
Providence, RI 02940-9768
ADDRESS SERVICE REQUESTED
3167-6A
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Item 2. | Code of Ethics —not applicable. |
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Item 3. | Audit Committee Financial Expert —not applicable. |
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Item 4. | Principal Accountant Fees and Services —not applicable. |
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Item 5. | Audit Committee of Listed Registrants —not applicable. |
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Item 6. | Schedule of Investments —Schedule I. |
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PACIFIC FUNDS |
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| Shares |
| Value |
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COMMON STOCKS - 98.91% |
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Autos & Transportation - 1.71% |
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AMR Corp * |
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| 600 |
| $ | 13,884 |
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Arkansas Best Corp |
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| 200 |
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| 8,606 |
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ArvinMeritor Inc |
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| 400 |
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| 5,696 |
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Autoliv Inc |
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| 300 |
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| 16,533 |
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Continental Airlines Inc ‘B’ * |
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| 700 |
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| 19,817 |
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CSX Corp |
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| 6,800 |
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| 223,244 |
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FedEx Corp |
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| 1,800 |
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| 195,624 |
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General Maritime Corp |
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| 200 |
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| 7,316 |
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General Motors Corp |
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| 2,300 |
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| 76,498 |
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Harley-Davidson Inc |
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| 1,600 |
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| 100,400 |
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Laidlaw International Inc |
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| 400 |
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| 10,932 |
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Norfolk Southern Corp |
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| 1,000 |
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| 44,050 |
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OMI Corp |
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| 300 |
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| 6,513 |
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Overseas Shipholding Group Inc |
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| 200 |
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| 12,354 |
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PACCAR Inc |
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| 900 |
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| 51,318 |
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Southwest Airlines Co |
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| 8,200 |
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| 136,612 |
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Swift Transportation Co Inc * |
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| 300 |
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| 7,116 |
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Tenneco Inc * |
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| 300 |
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| 7,017 |
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Thor Industries Inc |
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| 100 |
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| 4,117 |
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Tidewater Inc |
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| 200 |
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| 8,838 |
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United Parcel Service Inc ‘B’ |
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| 1,800 |
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| 129,492 |
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US Airways Group Inc * |
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| 300 |
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| 13,299 |
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Westinghouse Air Brake Technologies Corp |
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| 300 |
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| 8,139 |
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| 1,107,415 |
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Consumer Discretionary - 11.55% |
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Administaff Inc |
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| 200 |
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| 6,740 |
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American Eagle Outfitters Inc |
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| 300 |
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| 13,149 |
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AnnTaylor Stores Corp * |
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| 400 |
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| 16,744 |
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Avis Budget Group Inc |
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| 230 |
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| 4,207 |
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Barnes & Noble Inc |
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| 700 |
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| 26,558 |
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Best Buy Co Inc |
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| 1,200 |
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| 64,272 |
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Big Lots Inc * |
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| 800 |
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| 15,848 |
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Brightpoint Inc * |
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| 400 |
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| 5,688 |
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Brown Shoe Co Inc |
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| 200 |
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| 7,168 |
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CBS Corp ‘B’ |
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| 2,900 |
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| 81,693 |
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Charming Shoppes Inc * |
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| 700 |
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| 9,996 |
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Christopher & Banks Corp |
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| 200 |
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| 5,896 |
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Circuit City Stores Inc |
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| 1,100 |
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| 27,621 |
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Clear Channel Communications Inc |
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| 9,600 |
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| 276,960 |
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Columbia Sportswear Co * |
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| 100 |
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| 5,583 |
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Convergys Corp * |
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| 800 |
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| 16,520 |
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Costco Wholesale Corp |
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| 2,900 |
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| 144,072 |
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Darden Restaurants Inc |
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| 400 |
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| 16,988 |
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Dillard’s Inc ‘A’ |
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| 700 |
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| 22,911 |
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Dollar Thrifty Automotive Group Inc * |
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| 100 |
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| 4,457 |
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Dollar Tree Stores Inc * |
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| 1,000 |
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| 30,960 |
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Domino’s Pizza Inc |
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| 100 |
|
| 2,565 |
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EarthLink Inc * |
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| 1,100 |
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| 7,997 |
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Ethan Allen Interiors Inc |
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| 200 |
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| 6,932 |
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Family Dollar Stores Inc |
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| 900 |
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| 26,316 |
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Federated Department Stores Inc |
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| 1,500 |
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| 64,815 |
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Furniture Brands International Inc |
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| 300 |
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| 5,712 |
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Gannett Co Inc |
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| 4,700 |
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| 267,101 |
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Google Inc ‘A’ * |
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| 1,900 |
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| 763,610 |
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Group 1 Automotive Inc |
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| 100 |
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| 4,990 |
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Guess? Inc * |
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| 300 |
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| 14,559 |
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IKON Office Solutions Inc |
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| 200 |
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| 2,688 |
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International Game Technology |
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| 4,900 |
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| 203,350 |
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ITT Educational Services Inc * |
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| 300 |
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| 19,890 |
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J.C. Penney Co Inc |
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| 4,400 |
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| 300,916 |
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Jack in the Box Inc * |
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| 200 |
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| 10,436 |
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Jackson Hewitt Tax Service Inc |
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| 200 |
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| 6,002 |
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Kohl’s Corp * |
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| 1,000 |
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| 64,920 |
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Las Vegas Sands Corp * |
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| 600 |
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| 41,010 |
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Leggett & Platt Inc |
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| 400 |
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| 10,012 |
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Liberty Media Holding Corp - Capital ‘A’ * |
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| 1,300 |
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| 108,641 |
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Liberty Media Holding Corp - Interactive ‘A’ * |
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| 5,000 |
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| 101,900 |
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Limited Brands Inc |
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| 5,100 |
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| 135,099 |
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Live Nation Inc * |
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| 100 |
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| 2,042 |
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Liz Claiborne Inc |
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| 500 |
|
| 19,755 |
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Lowe’s Cos Inc |
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| 6,500 |
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| 182,390 |
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Manpower Inc |
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| 500 |
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| 30,635 |
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Marriott International Inc ‘A’ |
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| 1,600 |
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| 61,824 |
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Mattel Inc |
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| 700 |
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| 13,790 |
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McDonald’s Corp |
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| 4,100 |
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| 160,392 |
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MGM MIRAGE * |
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| 1,200 |
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| 47,388 |
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Michaels Stores Inc |
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| 700 |
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| 30,478 |
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MPS Group Inc * |
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| 500 |
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| 7,555 |
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News Corp ‘A’ |
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| 7,600 |
|
| 149,340 |
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Nordstrom Inc |
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| 6,500 |
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| 274,950 |
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Office Depot Inc * |
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| 6,900 |
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| 273,930 |
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OfficeMax Inc |
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| 400 |
|
| 16,296 |
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Omnicom Group Inc |
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| 2,400 |
|
| 224,640 |
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Payless ShoeSource Inc * |
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| 300 |
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| 7,470 |
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Phillips-Van Heusen Corp |
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| 300 |
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| 12,531 |
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RadioShack Corp |
|
| 200 |
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| 3,860 |
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Rent-A-Center Inc * |
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| 400 |
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| 11,716 |
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Republic Services Inc |
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| 600 |
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| 24,126 |
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Robert Half International Inc |
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| 600 |
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| 20,382 |
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Sears Holdings Corp * |
|
| 400 |
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| 63,236 |
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Skechers U.S.A Inc ‘A’ * |
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| 300 |
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| 7,053 |
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Staples Inc |
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| 1,200 |
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| 29,196 |
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Starbucks Corp * |
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| 1,300 |
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| 44,265 |
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Starwood Hotels & Resorts Worldwide Inc |
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| 2,500 |
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| 142,975 |
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Tech Data Corp * |
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| 400 |
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| 14,612 |
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Tempur-Pedic International Inc * |
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| 400 |
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| 6,868 |
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The DIRECTV Group Inc * |
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| 6,100 |
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| 120,048 |
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The Dress Barn Inc * |
|
| 300 |
|
| 6,546 |
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The Gap Inc |
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| 10,000 |
|
| 189,500 |
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The Gymboree Corp * |
|
| 200 |
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| 8,436 |
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The Home Depot Inc |
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| 9,200 |
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| 333,684 |
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The McGraw-Hill Cos Inc |
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| 4,600 |
|
| 266,938 |
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The Men’s Wearhouse Inc |
|
| 600 |
|
| 22,326 |
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The Pantry Inc * |
|
| 100 |
|
| 5,637 |
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The TJX Cos Inc |
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| 4,600 |
|
| 128,938 |
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The Toro Co |
|
| 300 |
|
| 12,651 |
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The Walt Disney Co |
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| 4,900 |
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| 151,459 |
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Time Warner Inc |
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| 16,200 |
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| 295,326 |
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Tribune Co |
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| 500 |
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| 16,360 |
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Tween Brands Inc * |
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| 200 |
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| 7,520 |
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United Online Inc |
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| 1,000 |
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| 12,180 |
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Vail Resorts Inc * |
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| 200 |
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| 8,004 |
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VeriSign Inc * |
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| 700 |
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| 14,140 |
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Viacom Inc ‘B’ * |
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| 2,700 |
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| 100,386 |
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Wal-Mart Stores Inc |
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| 8,600 |
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| 424,152 |
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Waste Management Inc |
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| 5,500 |
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| 201,740 |
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WMS Industries Inc * |
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| 100 |
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| 2,921 |
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Wolverine World Wide Inc |
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| 200 |
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| 5,662 |
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Wyndham Worldwide Corp * |
|
| 460 |
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| 12,866 |
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Yum! Brands Inc |
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| 5,400 |
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| 281,070 |
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| 7,485,677 |
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Consumer Staples - 6.47% |
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Altria Group Inc |
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| 12,000 |
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| 918,600 |
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Campbell Soup Co |
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| 4,700 |
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| 171,550 |
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Coca-Cola Enterprises Inc |
|
| 400 |
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| 8,332 |
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Colgate-Palmolive Co |
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| 4,500 |
|
| 279,450 |
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ConAgra Foods Inc |
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| 11,000 |
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| 269,280 |
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Dean Foods Co * |
|
| 400 |
|
| 16,808 |
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Del Monte Foods Co |
|
| 800 |
|
| 8,360 |
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Flowers Foods Inc |
|
| 100 |
|
| 2,688 |
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See Notes to Financial Statements | See explanation of symbols and terms, if any, on page 4 |
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1 |
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PACIFIC FUNDS |
PF OPPENHEIMER MAIN STREET CORE FUND |
Schedule of Investments (continued) |
September 30, 2006 (Unaudited) |
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| Value |
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General Mills Inc |
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| 2,500 |
| $ | 141,500 |
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H.J. Heinz Co |
|
| 3,400 |
|
| 142,562 |
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Kellogg Co |
|
| 800 |
|
| 39,616 |
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Kraft Foods Inc ‘A’ |
|
| 1,000 |
|
| 35,660 |
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Loews Corp-Carolina Group |
|
| 600 |
|
| 33,234 |
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Longs Drug Stores Corp |
|
| 100 |
|
| 4,601 |
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NBTY Inc * |
|
| 200 |
|
| 5,854 |
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PepsiCo Inc |
|
| 8,300 |
|
| 541,658 |
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Reynolds American Inc |
|
| 2,200 |
|
| 136,334 |
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Safeway Inc |
|
| 7,300 |
|
| 221,555 |
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The Coca-Cola Co |
|
| 8,800 |
|
| 393,184 |
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The Kroger Co |
|
| 1,400 |
|
| 32,396 |
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The Pepsi Bottling Group Inc |
|
| 1,600 |
|
| 56,800 |
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The Procter & Gamble Co |
|
| 11,700 |
|
| 725,166 |
|
Walgreen Co |
|
| 200 |
|
| 8,878 |
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| 4,194,066 |
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Energy - 2.57% |
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Anadarko Petroleum Corp |
|
| 3,900 |
|
| 170,937 |
|
Apache Corp |
|
| 2,000 |
|
| 126,400 |
|
Chesapeake Energy Corp |
|
| 6,800 |
|
| 197,064 |
|
Cimarex Energy Co |
|
| 500 |
|
| 17,595 |
|
Comstock Resources Inc * |
|
| 300 |
|
| 8,145 |
|
Devon Energy Corp |
|
| 4,300 |
|
| 271,545 |
|
EOG Resources Inc |
|
| 2,500 |
|
| 162,625 |
|
Frontier Oil Corp |
|
| 700 |
|
| 18,606 |
|
Grey Wolf Inc * |
|
| 900 |
|
| 6,012 |
|
Holly Corp |
|
| 200 |
|
| 8,666 |
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Nabors Industries Ltd * (Bermuda) |
|
| 600 |
|
| 17,850 |
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Pogo Producing Co |
|
| 200 |
|
| 8,190 |
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St. Mary Land & Exploration Co |
|
| 200 |
|
| 7,342 |
|
Sunoco Inc |
|
| 700 |
|
| 43,533 |
|
Tesoro Corp |
|
| 400 |
|
| 23,192 |
|
Valero Energy Corp |
|
| 4,500 |
|
| 231,615 |
|
Veritas DGC Inc * |
|
| 300 |
|
| 19,746 |
|
W&T Offshore Inc |
|
| 100 |
|
| 2,921 |
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Weatherford International Ltd * (Bermuda) |
|
| 1,800 |
|
| 75,096 |
|
W-H Energy Services Inc * |
|
| 100 |
|
| 4,147 |
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XTO Energy Inc |
|
| 5,800 |
|
| 244,354 |
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|
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|
| 1,665,581 |
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Financial Services - 23.98% |
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ACE Ltd (Cayman) |
|
| 4,200 |
|
| 229,866 |
|
Aflac Inc |
|
| 100 |
|
| 4,576 |
|
American Express Co |
|
| 2,100 |
|
| 117,768 |
|
American International Group Inc |
|
| 7,200 |
|
| 477,072 |
|
AmeriCredit Corp * |
|
| 1,500 |
|
| 37,485 |
|
Ameriprise Financial Inc |
|
| 1,800 |
|
| 84,420 |
|
AmerUs Group Co |
|
| 400 |
|
| 27,204 |
|
Aon Corp |
|
| 1,900 |
|
| 64,353 |
|
Assurant Inc |
|
| 500 |
|
| 26,705 |
|
Astoria Financial Corp |
|
| 1,000 |
|
| 30,820 |
|
Bank of America Corp |
|
| 28,954 |
|
| 1,551,066 |
|
BankUnited Financial Corp ‘A’ |
|
| 200 |
|
| 5,214 |
|
BB&T Corp |
|
| 2,500 |
|
| 109,450 |
|
Capital One Financial Corp |
|
| 800 |
|
| 62,928 |
|
CB Richard Ellis Group Inc ‘A’ * |
|
| 800 |
|
| 19,680 |
|
CIGNA Corp |
|
| 700 |
|
| 81,424 |
|
Cincinnati Financial Corp |
|
| 400 |
|
| 19,224 |
|
CIT Group Inc |
|
| 2,400 |
|
| 116,712 |
|
Citigroup Inc |
|
| 30,700 |
|
| 1,524,869 |
|
Comerica Inc |
|
| 800 |
|
| 45,536 |
|
Countrywide Financial Corp |
|
| 2,600 |
|
| 91,104 |
|
Digital Insight Corp * |
|
| 100 |
|
| 2,932 |
|
Fair Isaac Corp |
|
| 600 |
|
| 21,942 |
|
Fannie Mae |
|
| 700 |
|
| 39,137 |
|
First Data Corp |
|
| 9,200 |
|
| 386,400 |
|
Fiserv Inc * |
|
| 900 |
|
| 42,381 |
|
Freddie Mac |
|
| 1,400 |
|
| 92,862 |
|
Genworth Financial Inc ‘A’ |
|
| 800 |
|
| 28,008 |
|
Golden West Financial Corp |
|
| 900 |
|
| 69,525 |
|
Greenhill & Co Inc |
|
| 200 |
|
| 13,404 |
|
Hudson City Bancorp Inc |
|
| 1,400 |
|
| 18,550 |
|
Huntington Bancshares Inc |
|
| 900 |
|
| 21,537 |
|
International Securities Exchange Inc |
|
| 200 |
|
| 9,378 |
|
Janus Capital Group Inc |
|
| 700 |
|
| 13,804 |
|
Jefferies Group Inc |
|
| 700 |
|
| 19,950 |
|
John H. Harland Co |
|
| 100 |
|
| 3,645 |
|
Jones Lang LaSalle Inc |
|
| 300 |
|
| 25,644 |
|
JPMorgan Chase & Co |
|
| 24,300 |
|
| 1,141,128 |
|
KeyCorp |
|
| 3,700 |
|
| 138,528 |
|
Knight Capital Group Inc ‘A’ * |
|
| 500 |
|
| 9,100 |
|
LandAmerica Financial Group Inc |
|
| 200 |
|
| 13,158 |
|
Lehman Brothers Holdings Inc |
|
| 6,200 |
|
| 457,932 |
|
Lincoln National Corp |
|
| 3,900 |
|
| 242,112 |
|
Loews Corp |
|
| 2,300 |
|
| 87,170 |
|
M&T Bank Corp |
|
| 1,500 |
|
| 179,940 |
|
Marsh & McLennan Cos Inc |
|
| 500 |
|
| 14,075 |
|
MBIA Inc |
|
| 400 |
|
| 24,576 |
|
Mellon Financial Corp |
|
| 6,500 |
|
| 254,150 |
|
Merrill Lynch & Co Inc |
|
| 8,400 |
|
| 657,048 |
|
MetLife Inc |
|
| 700 |
|
| 39,676 |
|
MoneyGram International Inc |
|
| 300 |
|
| 8,718 |
|
Morgan Stanley |
|
| 8,800 |
|
| 641,608 |
|
National City Corp |
|
| 6,000 |
|
| 219,600 |
|
Nationwide Financial Services Inc ‘A’ |
|
| 100 |
|
| 4,810 |
|
New York Community Bancorp Inc |
|
| 400 |
|
| 6,552 |
|
North Fork Bancorp Inc |
|
| 300 |
|
| 8,592 |
|
Old Republic International Corp |
|
| 600 |
|
| 13,290 |
|
Paychex Inc |
|
| 200 |
|
| 7,370 |
|
Piper Jaffray Cos * |
|
| 100 |
|
| 6,062 |
|
Principal Financial Group Inc |
|
| 5,500 |
|
| 298,540 |
|
Prudential Financial Inc |
|
| 4,600 |
|
| 350,750 |
|
Radian Group Inc |
|
| 600 |
|
| 36,000 |
|
Raymond James Financial Inc |
|
| 200 |
|
| 5,848 |
|
Realogy Corp * |
|
| 575 |
|
| 13,041 |
|
Ryder System Inc |
|
| 300 |
|
| 15,504 |
|
Safeco Corp |
|
| 300 |
|
| 17,679 |
|
Safety Insurance Group Inc |
|
| 200 |
|
| 9,732 |
|
Sotheby’s |
|
| 200 |
|
| 6,448 |
|
SunTrust Banks Inc |
|
| 3,500 |
|
| 270,480 |
|
TCF Financial Corp |
|
| 500 |
|
| 13,145 |
|
TD Banknorth Inc |
|
| 100 |
|
| 2,888 |
|
The Allstate Corp |
|
| 8,400 |
|
| 526,932 |
|
The Bear Stearns Cos Inc |
|
| 2,200 |
|
| 308,220 |
|
The Chubb Corp |
|
| 4,400 |
|
| 228,624 |
|
The Goldman Sachs Group Inc |
|
| 3,600 |
|
| 609,012 |
|
The Hanover Insurance Group Inc |
|
| 400 |
|
| 17,852 |
|
The Hartford Financial Services Group Inc |
|
| 3,300 |
|
| 286,275 |
|
The PMI Group Inc |
|
| 500 |
|
| 21,905 |
|
The PNC Financial Services Group Inc |
|
| 1,800 |
|
| 130,392 |
|
The Progressive Corp |
|
| 700 |
|
| 17,178 |
|
The St. Paul Travelers Cos Inc |
|
| 8,300 |
|
| 389,187 |
|
Trammell Crow Co * |
|
| 100 |
|
| 3,651 |
|
U.S. Bancorp |
|
| 18,200 |
|
| 604,604 |
|
W.R. Berkley Corp |
|
| 400 |
|
| 14,156 |
|
Wachovia Corp |
|
| 11,200 |
|
| 624,960 |
|
Washington Mutual Inc |
|
| 5,600 |
|
| 243,432 |
|
Wells Fargo & Co |
|
| 21,200 |
|
| 767,016 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 15,545,221 |
|
|
|
|
|
|
|
|
|
See Notes to Financial Statements | See explanation of symbols and terms, if any, on page 4 |
| |
2 |
|
PACIFIC FUNDS |
PF OPPENHEIMER MAIN STREET CORE FUND |
Schedule of Investments (continued) |
September 30, 2006 (Unaudited) |
|
|
|
|
|
|
|
|
|
| Shares |
| Value |
| ||
|
|
|
| ||||
Health Care - 11.59% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Abbott Laboratories |
|
| 7,400 |
| $ | 359,344 |
|
Aetna Inc |
|
| 1,200 |
|
| 47,460 |
|
Alpharma Inc ‘A’ |
|
| 300 |
|
| 7,017 |
|
AmerisourceBergen Corp |
|
| 1,800 |
|
| 81,360 |
|
Amgen Inc * |
|
| 3,400 |
|
| 243,202 |
|
Andrx Corp * |
|
| 300 |
|
| 7,329 |
|
Becton Dickinson & Co |
|
| 3,800 |
|
| 268,546 |
|
Bristol-Myers Squibb Co |
|
| 8,100 |
|
| 201,852 |
|
Cardinal Health Inc |
|
| 4,700 |
|
| 308,978 |
|
Caremark Rx Inc |
|
| 6,400 |
|
| 362,688 |
|
Edwards Lifesciences Corp * |
|
| 200 |
|
| 9,318 |
|
Emdeon Corp * |
|
| 1,000 |
|
| 11,710 |
|
Endo Pharmaceuticals Holdings Inc * |
|
| 100 |
|
| 3,255 |
|
Express Scripts Inc * |
|
| 700 |
|
| 52,843 |
|
Forest Laboratories Inc * |
|
| 2,000 |
|
| 101,220 |
|
HCA Inc |
|
| 4,400 |
|
| 219,516 |
|
Humana Inc * |
|
| 900 |
|
| 59,481 |
|
Johnson & Johnson |
|
| 16,900 |
|
| 1,097,486 |
|
Kindred Healthcare Inc * |
|
| 100 |
|
| 2,973 |
|
King Pharmaceuticals Inc * |
|
| 1,900 |
|
| 32,357 |
|
Laboratory Corp of America Holdings * |
|
| 500 |
|
| 32,785 |
|
Manor Care Inc |
|
| 400 |
|
| 20,912 |
|
McKesson Corp |
|
| 5,900 |
|
| 311,048 |
|
Medtronic Inc |
|
| 7,300 |
|
| 339,012 |
|
Merck & Co Inc |
|
| 18,000 |
|
| 754,200 |
|
Pediatrix Medical Group Inc * |
|
| 200 |
|
| 9,120 |
|
Pfizer Inc |
|
| 37,500 |
|
| 1,063,500 |
|
Quest Diagnostics Inc |
|
| 2,000 |
|
| 122,320 |
|
Sciele Pharma Inc * |
|
| 100 |
|
| 1,884 |
|
Sierra Health Services Inc * |
|
| 700 |
|
| 26,488 |
|
UnitedHealth Group Inc |
|
| 13,140 |
|
| 646,488 |
|
WellPoint Inc * |
|
| 7,055 |
|
| 543,588 |
|
Wyeth |
|
| 2,100 |
|
| 106,764 |
|
Zimmer Holdings Inc * |
|
| 900 |
|
| 60,750 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 7,516,794 |
|
|
|
|
|
|
| ||
Integrated Oils - 7.72% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Canadian Natural Resources Ltd (Canada) |
|
| 1,200 |
|
| 54,688 |
|
Chevron Corp |
|
| 14,000 |
|
| 908,040 |
|
ConocoPhillips |
|
| 10,175 |
|
| 605,718 |
|
Exxon Mobil Corp |
|
| 32,600 |
|
| 2,187,460 |
|
Hess Corp |
|
| 4,400 |
|
| 182,248 |
|
Marathon Oil Corp |
|
| 4,800 |
|
| 369,120 |
|
Occidental Petroleum Corp |
|
| 7,752 |
|
| 372,949 |
|
Paramount Resources Ltd ‘A’ * (Canada) |
|
| 3,200 |
|
| 76,983 |
|
Schlumberger Ltd (Netherlands) |
|
| 4,000 |
|
| 248,120 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 5,005,326 |
|
|
|
|
|
|
| ||
Materials & Processing - 3.36% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Acuity Brands Inc |
|
| 400 |
|
| 18,160 |
|
Air Products & Chemicals Inc |
|
| 3,500 |
|
| 232,295 |
|
AK Steel Holding Corp * |
|
| 1,200 |
|
| 14,568 |
|
Carpenter Technology Corp |
|
| 300 |
|
| 32,253 |
|
Chaparral Steel Co * |
|
| 200 |
|
| 6,812 |
|
Commercial Metals Co |
|
| 400 |
|
| 8,132 |
|
Ecolab Inc |
|
| 800 |
|
| 34,256 |
|
EMCOR Group Inc * |
|
| 100 |
|
| 5,484 |
|
Freeport-McMoRan Copper & Gold Inc ‘B’ |
|
| 4,600 |
|
| 244,996 |
|
Granite Construction Inc |
|
| 400 |
|
| 21,340 |
|
H.B. Fuller Co |
|
| 300 |
|
| 7,032 |
|
Hercules Inc * |
|
| 400 |
|
| 6,308 |
|
Kaydon Corp |
|
| 200 |
|
| 7,404 |
|
Masco Corp |
|
| 9,400 |
|
| 257,748 |
|
NewMarket Corp |
|
| 100 |
|
| 5,816 |
|
NS Group Inc * |
|
| 300 |
|
| 19,365 |
|
Nucor Corp |
|
| 5,900 |
|
| 291,991 |
|
OM Group Inc * |
|
| 200 |
|
| 8,788 |
|
Packaging Corp of America |
|
| 200 |
|
| 4,640 |
|
Pactiv Corp * |
|
| 900 |
|
| 25,578 |
|
Phelps Dodge Corp |
|
| 2,600 |
|
| 220,220 |
|
PPG Industries Inc |
|
| 2,800 |
|
| 187,824 |
|
Quanex Corp |
|
| 300 |
|
| 9,105 |
|
Quanta Services Inc * |
|
| 800 |
|
| 13,488 |
|
Reliance Steel & Aluminum Co |
|
| 600 |
|
| 19,284 |
|
Rohm & Haas Co |
|
| 2,900 |
|
| 137,315 |
|
Ryerson Inc |
|
| 100 |
|
| 2,189 |
|
Schnitzer Steel Industries Inc ‘A’ |
|
| 200 |
|
| 6,308 |
|
Southern Copper Corp |
|
| 1,500 |
|
| 138,750 |
|
Steel Dynamics Inc |
|
| 300 |
|
| 15,135 |
|
Temple-Inland Inc |
|
| 400 |
|
| 16,040 |
|
The Dow Chemical Co |
|
| 3,000 |
|
| 116,940 |
|
Tronox Inc ‘B’ |
|
| 362 |
|
| 4,623 |
|
United States Steel Corp |
|
| 400 |
|
| 23,072 |
|
Valmont Industries Inc |
|
| 100 |
|
| 5,225 |
|
Worthington Industries Inc |
|
| 700 |
|
| 11,942 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 2,180,426 |
|
|
|
|
|
|
| ||
Multi-Industry - 4.31% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3M Co |
|
| 5,300 |
|
| 394,426 |
|
Eaton Corp |
|
| 3,300 |
|
| 227,205 |
|
General Electric Co |
|
| 46,900 |
|
| 1,655,570 |
|
Honeywell International Inc |
|
| 5,600 |
|
| 229,040 |
|
SPX Corp |
|
| 600 |
|
| 32,064 |
|
Textron Inc |
|
| 1,300 |
|
| 113,750 |
|
Trinity Industries Inc |
|
| 250 |
|
| 8,042 |
|
Tyco International Ltd (Bermuda) |
|
| 4,900 |
|
| 137,151 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 2,797,248 |
|
|
|
|
|
|
| ||
Producer Durables - 5.44% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
A.O. Smith Corp |
|
| 100 |
|
| 3,943 |
|
AGCO Corp * |
|
| 400 |
|
| 10,140 |
|
Agilent Technologies Inc * |
|
| 6,900 |
|
| 225,561 |
|
Alliant Techsystems Inc * |
|
| 300 |
|
| 24,318 |
|
Applied Industrial Technologies Inc |
|
| 250 |
|
| 6,100 |
|
Applied Materials Inc |
|
| 13,000 |
|
| 230,490 |
|
Belden CDT Inc |
|
| 200 |
|
| 7,646 |
|
Caterpillar Inc |
|
| 3,800 |
|
| 250,040 |
|
Cooper Industries Ltd ‘A’ (Bermuda) |
|
| 200 |
|
| 17,044 |
|
Crane Co |
|
| 200 |
|
| 8,360 |
|
Cummins Inc |
|
| 100 |
|
| 11,923 |
|
Cymer Inc * |
|
| 400 |
|
| 17,564 |
|
Danaher Corp |
|
| 3,800 |
|
| 260,946 |
|
Deere & Co |
|
| 900 |
|
| 75,519 |
|
Emerson Electric Co |
|
| 2,900 |
|
| 243,194 |
|
Flowserve Corp * |
|
| 200 |
|
| 10,118 |
|
General Cable Corp * |
|
| 200 |
| �� | 7,642 |
|
Hubbell Inc ‘B’ |
|
| 200 |
|
| 9,580 |
|
Illinois Tool Works Inc |
|
| 7,300 |
|
| 327,770 |
|
InterDigital Communications Corp * |
|
| 200 |
|
| 6,820 |
|
Lam Research Corp * |
|
| 900 |
|
| 40,797 |
|
Lockheed Martin Corp |
|
| 5,300 |
|
| 456,118 |
|
Mettler-Toledo International Inc * |
|
| 100 |
|
| 6,615 |
|
Northrop Grumman Corp |
|
| 5,500 |
|
| 374,385 |
|
Orbital Sciences Corp * |
|
| 200 |
|
| 3,754 |
|
Polycom Inc * |
|
| 900 |
|
| 22,077 |
|
The Boeing Co |
|
| 5,700 |
|
| 449,445 |
|
The Manitowoc Co Inc |
|
| 200 |
|
| 8,958 |
|
United Technologies Corp |
|
| 2,700 |
|
| 171,045 |
|
Xerox Corp * |
|
| 15,400 |
|
| 239,624 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 3,527,536 |
|
|
|
|
|
|
|
|
|
See Notes to Financial Statements | See explanation of symbols and terms, if any, on page 4 |
3
|
PACIFIC FUNDS |
|
|
|
|
|
|
|
|
|
| Shares |
| Value |
| ||
|
|
|
| ||||
Technology - 15.31% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Affiliated Computer Services Inc ‘A’ * |
|
| 300 |
| $ | 15,558 |
|
Analog Devices Inc |
|
| 3,300 |
|
| 96,987 |
|
Apple Computer Inc * |
|
| 2,100 |
|
| 161,763 |
|
Applera Corp-Applied Biosystems Group |
|
| 1,200 |
|
| 39,732 |
|
Atmel Corp * |
|
| 1,800 |
|
| 10,872 |
|
BEA Systems Inc * |
|
| 3,100 |
|
| 47,120 |
|
BMC Software Inc * |
|
| 1,200 |
|
| 32,664 |
|
Cadence Design Systems Inc * |
|
| 400 |
|
| 6,784 |
|
Ceridian Corp * |
|
| 500 |
|
| 11,180 |
|
Cisco Systems Inc * |
|
| 32,400 |
|
| 745,200 |
|
CommScope Inc * |
|
| 400 |
|
| 13,144 |
|
Computer Sciences Corp * |
|
| 2,700 |
|
| 132,624 |
|
CSG Systems International Inc * |
|
| 200 |
|
| 5,286 |
|
Dell Inc * |
|
| 25,500 |
|
| 582,420 |
|
Electronic Data Systems Corp |
|
| 400 |
|
| 9,808 |
|
EMC Corp * |
|
| 24,400 |
|
| 292,312 |
|
Freescale Semiconductor Inc ‘B’ * |
|
| 8,800 |
|
| 334,488 |
|
General Dynamics Corp |
|
| 5,200 |
|
| 372,684 |
|
Hewlett-Packard Co |
|
| 19,300 |
|
| 708,117 |
|
Intel Corp |
|
| 37,100 |
|
| 763,147 |
|
International Business Machines Corp |
|
| 11,600 |
|
| 950,504 |
|
Intersil Corp ‘A’ |
|
| 300 |
|
| 7,365 |
|
Intuit Inc * |
|
| 7,000 |
|
| 224,630 |
|
Lucent Technologies Inc * |
|
| 17,500 |
|
| 40,950 |
|
MEMC Electronic Materials Inc * |
|
| 600 |
|
| 21,978 |
|
Mentor Graphics Corp * |
|
| 200 |
|
| 2,816 |
|
Micron Technology Inc * |
|
| 14,500 |
|
| 252,300 |
|
Microsoft Corp |
|
| 49,200 |
|
| 1,344,636 |
|
MicroStrategy Inc ‘A’ * |
|
| 100 |
|
| 10,183 |
|
Motorola Inc |
|
| 19,400 |
|
| 485,000 |
|
NCR Corp * |
|
| 200 |
|
| 7,896 |
|
OmniVision Technologies Inc * |
|
| 700 |
|
| 9,989 |
|
ON Semiconductor Corp * |
|
| 1,300 |
|
| 7,644 |
|
Oracle Corp * |
|
| 39,000 |
|
| 691,860 |
|
Plexus Corp * |
|
| 400 |
|
| 7,680 |
|
QUALCOMM Inc |
|
| 4,500 |
|
| 163,575 |
|
Raytheon Co |
|
| 7,700 |
|
| 369,677 |
|
RealNetworks Inc * |
|
| 600 |
|
| 6,366 |
|
Rockwell Automation Inc |
|
| 1,400 |
|
| 81,340 |
|
Solectron Corp * |
|
| 5,700 |
|
| 18,582 |
|
Sybase Inc * |
|
| 200 |
|
| 4,848 |
|
Symantec Corp * |
|
| 5,700 |
|
| 121,296 |
|
Synopsys Inc * |
|
| 1,200 |
|
| 23,664 |
|
Texas Instruments Inc |
|
| 18,200 |
|
| 605,150 |
|
The Reynolds & Reynolds Co ‘A’ |
|
| 200 |
|
| 7,902 |
|
TIBCO Software Inc * |
|
| 1,800 |
|
| 16,164 |
|
Western Digital Corp * |
|
| 3,000 |
|
| 54,300 |
|
Zoran Corp * |
|
| 400 |
|
| 6,432 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 9,926,617 |
|
|
|
|
|
|
| ||
Utilities - 4.90% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Alliant Energy Corp |
|
| 400 |
|
| 14,292 |
|
Alltel Corp |
|
| 500 |
|
| 27,750 |
|
American Electric Power Co Inc |
|
| 7,100 |
|
| 258,227 |
|
AT&T Inc |
|
| 12,591 |
|
| 409,963 |
|
Avista Corp |
|
| 100 |
|
| 2,368 |
|
BellSouth Corp |
|
| 8,600 |
|
| 367,650 |
|
CenturyTel Inc |
|
| 800 |
|
| 31,736 |
|
Citizens Communications Co |
|
| 1,800 |
|
| 25,272 |
|
Comcast Corp ‘A’ * |
|
| 3,800 |
|
| 140,030 |
|
Constellation Energy Group Inc |
|
| 700 |
|
| 41,440 |
|
Duke Energy Corp |
|
| 6,400 |
|
| 193,280 |
|
Edison International |
|
| 1,000 |
|
| 41,640 |
|
Embarq Corp |
|
| 500 |
|
| 24,185 |
|
Leap Wireless International Inc * |
|
| 100 |
|
| 4,849 |
|
Mirant Corp * |
|
| 43 |
|
| 1,174 |
|
ONEOK Inc |
|
| 700 |
|
| 26,453 |
|
PG&E Corp |
|
| 5,600 |
|
| 233,240 |
|
Progress Energy Inc |
|
| 200 |
|
| 9,076 |
|
Qwest Communication International Inc * |
|
| 38,500 |
|
| 335,720 |
|
Sprint Nextel Corp |
|
| 26,500 |
|
| 454,475 |
|
The AES Corp * |
|
| 500 |
|
| 10,195 |
|
Verizon Communications Inc |
|
| 14,100 |
|
| 523,533 |
|
|
|
|
|
|
| ||
|
|
|
|
|
| 3,176,548 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
Total Common Stocks |
|
|
|
|
|
|
|
(Cost $59,281,280) |
|
|
|
|
| 64,128,455 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
TOTAL INVESTMENTS - 98.91% |
|
|
|
|
|
|
|
(Cost $59,281,280) |
|
|
|
|
| 64,128,455 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OTHER ASSETS & LIABILITIES, NET - 1.09% |
|
|
|
|
| 705,731 |
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
NET ASSETS - 100.00% |
|
|
|
| $ | 64,834,186 |
|
|
|
|
|
|
|
Note to Schedule of Investments
(a) As of September 30, 2006, the Fund was diversified as a percentage of net assets as follows:
|
|
|
|
|
Financial Services |
|
| 23.98 | % |
Technology |
|
| 15.31 | % |
Health Care |
|
| 11.59 | % |
Consumer Discretionary |
|
| 11.55 | % |
Integrated Oils |
|
| 7.72 | % |
Consumer Staples |
|
| 6.47 | % |
Producer Durables |
|
| 5.44 | % |
Utilities |
|
| 4.90 | % |
Multi-Industry |
|
| 4.31 | % |
Materials & Processing |
|
| 3.36 | % |
Energy |
|
| 2.57 | % |
Autos & Transportation |
|
| 1.71 | % |
|
|
| ||
|
|
| 98.91 | % |
Other Assets & Liabilities, Net |
|
| 1.09 | % |
|
|
| ||
|
|
| 100.00 | % |
|
|
|
|
|
|
|
| Explanation of Symbol for Schedule of Investments |
|
|
* | Non-income producing securities. |
|
|
See Notes to Financial Statements
4
|
|
|
Item 7. | Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies —not applicable. | |
|
| |
Item 8. | Portfolio managers of Closed-end Management Investment Companies —not applicable. | |
|
| |
Item 9. | Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers —not applicable. | |
|
| |
Item 10. | Submission of Matters to a Vote of Security Holders —not applicable. | |
|
| |
Item 11. | Controls and Procedures. | |
|
| |
| (a) The Chief Executive Officer, President and Treasurer have concluded that Registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act) provide reasonable assurances that material information relating to Registrant is made known to them by the appropriate persons, based on their evaluation of these controls and procedures as of a date within 90 days of the filing of this report. | |
|
| |
| (b) There were no changes in Registrant’s internal control over financial reporting that occurred during the Registrant’s second fiscal quarter that have materially affected, or are reasonably likely to materially affect, the Registrant’s internal control over financial reporting. | |
|
| |
Item 12. | Exhibits. | |
| ||
| (1) | Code of ethics—not applicable. |
| ||
| (2) | (a) Exhibit 99.CERT—Certifications pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. |
| ||
|
| (b) Exhibit 99.906 CERT—Certifications pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. |
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
|
|
|
| Pacific Funds | |
|
| |
| By: | /s/ JAMES T. MORRIS |
|
| |
|
| James T. Morris |
|
|
|
| Date: | December 1, 2006 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
|
|
|
| By: | /c/ THOMAS C. SUTTON |
|
| |
|
| Thomas C. Sutton |
|
|
|
| Date: | December 1, 2006 |
|
|
|
| By: | /s/ JAMES T. MORRIS |
|
| |
|
| James T. Morris |
|
|
|
| Date: | December 1, 2006 |
|
|
|
| By: | /c/ BRIAN D. KLEMENS |
|
| |
|
| Brian D. Klemens |
|
|
|
| Date: | December 1, 2006 |