Form 485BPOS PIMCO FUNDS

Exhibit (i)

 

		1900 K Street, N.W. Washington, DC 20006 +1 202 261 3300 Main +1 202 261 3333 Fax www.dechert.com

July 29, 2021

PIMCO Funds

650 Newport Center Drive

Newport Beach, California 92660

Dear Ladies and Gentlemen:

We have acted as counsel for PIMCO Funds (the “Trust”), a trust duly organized and validly existing under the laws of the Commonwealth of Massachusetts, in connection with Post-Effective Amendment No. 341 to the Trust’s Registration Statement on Form N-1A (the “Registration Statement”) relating to the issuance and sale by the Trust of an indefinite number of authorized shares of beneficial interest under the Securities Act of 1933, as amended (the “1933 Act”), and under the Investment Company Act of 1940, as amended. We have examined such governmental and corporate certificates and records as we deemed necessary to render this opinion and we are familiar with the Trust’s Amended and Restated Declaration of Trust and its Amended and Restated By-Laws, each as amended to date.

Based upon the foregoing, we are of the opinion that the shares of beneficial interest of the Trust’s series proposed to be sold pursuant to the Registration Statement, when paid for as contemplated in the Registration Statement, will be legally and validly issued, fully paid and non-assessable. We hereby consent to the filing of this opinion as an exhibit to the Registration Statement, to be filed with the Securities and Exchange Commission, and to the use of our name in the Trust’s Registration Statement to be dated on or about July 30, 2021 and in any revised or amended versions thereof. In giving such consent, however, we do not admit that we are within the category of persons whose consent is required by Section 7 of the 1933 Act and the rules and regulations thereunder.

Very truly yours,

/s/ Dechert LLP

Dechert LLP

CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

We hereby consent to the incorporation by reference in this Registration Statement on Form N-1A of PIMCO Funds of our reports dated May 27, 2021, relating to the financial statements and financial highlights for the funds or portfolios constituting the PIMCO Funds listed in Appendix A (the “Funds/Portfolios”), which appear in the Funds’ Annual Reports on Form N-CSR for the year ended March 31, 2021. We also consent to the references to us on the cover page of the Statement of Additional Information, the cover pages of the Offering Memorandum Supplements and under the headings “Financial Statements”, “Independent Registered Public Accounting Firm” and “Financial Highlights” in such Registration Statement.

/s/ PricewaterhouseCoopers LLP

Kansas City, Missouri

July 28, 2021

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Appendix A

 

PIMCO Funds

PIMCO Global Core Asset Allocation Fund

PIMCO Municipal Bond Fund

PIMCO Short Duration Municipal Income Fund

PIMCO California Intermediate Municipal Bond Fund

PIMCO New York Municipal Bond Fund

PIMCO California Municipal Bond Fund

PIMCO National Intermediate Municipal Bond Fund

PIMCO High Yield Municipal Bond Fund

PIMCO California Short Duration Municipal Income Fund

PIMCO All Asset Fund

PIMCO All Asset All Authority Fund

PIMCO Total Return Fund II

PIMCO Long-Term U.S. Government Fund

PIMCO Total Return ESG Fund

PIMCO Moderate Duration Fund

PIMCO Mortgage-Backed Securities Fund

PIMCO GNMA and Government Securities Fund

PIMCO Mortgage Opportunities and Bond Fund

PIMCO Long Duration Total Return Fund

PIMCO Extended Duration Fund

PIMCO CommodityRealReturn Strategy Fund®

PIMCO High Yield Spectrum Fund

PIMCO Low Duration Credit Fund

PIMCO Credit Opportunities Bond Fund

PIMCO Long-Term Credit Bond Fund

PIMCO Low Duration Income Fund

PIMCO Diversified Income Fund

PIMCO Preferred and Capital Securities Fund

PIMCO International Bond Fund (U.S. Dollar-Hedged)

PIMCO RAE PLUS Small Fund

PIMCO RAE PLUS International Fund

PIMCO RAE Fundamental Advantage PLUS Fund

PIMCO RAE PLUS EMG Fund

PIMCO RAE Worldwide Long/Short PLUS Fund

PIMCO High Yield Fund

PIMCO Income Fund

PIMCO Global Bond Opportunities Fund (Unhedged)

PIMCO Global Bond Opportunities Fund (U.S. Dollar-Hedged)

PIMCO Emerging Markets Bond Fund

PIMCO Emerging Markets Corporate Bond Fund

PIMCO Emerging Markets Full Spectrum Bond Fund

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PIMCO Global Advantage® Strategy Bond Fund

PIMCO Emerging Markets Currency and Short-Term Investments Fund

PIMCO International Bond Fund (Unhedged)

PIMCO Emerging Markets Local Currency and Bond Fund

PIMCO Investment Grade Credit Bond Fund

PIMCO Low Duration Fund

PIMCO International Portfolio

PIMCO EM Bond and Short-Term Investments Portfolio

PIMCO Short-Term Portfolio

PIMCO U.S. Government and Short-Term Investments Portfolio

PIMCO Mortgage and Short-Term Investments Portfolio

PIMCO High Yield and Short-Term Investments Portfolio

PIMCO Real Return Portfolio

PIMCO Investment Grade Credit Bond Portfolio

PIMCO Municipal Portfolio

PIMCO ABS and Short-Term Investments Portfolio

PIMCO Short-Term Floating NAV Portfolio II

PIMCO Low Duration Portfolio

PIMCO Moderate Duration Portfolio

PIMCO Short-Term Floating NAV Portfolio III

PIMCO Long Duration Credit Bond Portfolio

PIMCO Short Asset Portfolio

PIMCO RAE PLUS Fund

PIMCO Real Return Fund

PIMCO Long-Term Real Return Fund

PIMCO CommoditiesPLUS® Strategy Fund

PIMCO Inflation Response Multi-Asset Fund

PIMCO RealEstateRealReturn Strategy Fund

PIMCO Short-Term Fund

PIMCO Low Duration Fund II

PIMCO Low Duration ESG Fund

PIMCO Short Asset Investment Fund

PIMCO Government Money Market Fund

PIMCO StocksPLUS® Fund

PIMCO StocksPLUS® Absolute Return Fund

PIMCO StocksPLUS® International Fund (U.S. Dollar-Hedged)

PIMCO StocksPLUS® Long Duration Fund

PIMCO StocksPLUS® Small Fund

PIMCO StocksPLUS® Short Fund

PIMCO StocksPLUS® International Fund (Unhedged)

PIMCO Strategic Bond Fund

PIMCO Total Return Fund

PIMCO Total Return Fund IV

PIMCO TRENDS Managed Futures Strategy Fund

PIMCO Dynamic Bond Fund

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PIMCO California Municipal Intermediate Value Fund

PIMCO California Municipal Opportunistic Value Fund

PIMCO National Municipal Intermediate Value Fund

PIMCO National Municipal Opportunistic Value Fund

PIMCO Climate Bond Fund

PIMCO All Asset: Multi-RAE PLUS Fund

PIMCO All Asset: Multi-Short PLUS Fund

PIMCO All Asset: Multi-Real Fund

PIMCO ESG Income Fund

PIMCO FUNDS

SECRETARY’S CERTIFICATE

I, Ryan G. Leshaw, solely in my capacity as Secretary of PIMCO Funds, a Massachusetts business trust (the “Trust”), hereby certify on behalf of the Trust, pursuant to Rule 483(b) under the Securities Act of 1933, that the following resolution was unanimously approved at the meeting of the Board of Trustees of the Trust held on May 14, 2019:

RESOLVED, that any officers of the Trusts who may be required to sign a Trust’s Registration Statement or any amendments thereto be, and each hereby is, authorized to execute or grant power of attorney to execute any Registration Statement applicable to the Trusts and any and all amendments to such Registration Statements, and to file the same, with exhibits thereto, if any, and other documents in connection therewith, with the Securities and Exchange Commission and with other federal, state, foreign and quasi-governmental agencies and such other instruments related to compliance with certain of the federal securities laws and other applicable federal, state, foreign and quasi-governmental filings, hereby ratifying and confirming all that each of said attorneys-in-fact, or his or her substitute or substitutes, may do or cause to be done by virtue thereof.

IN WITNESS WHEREOF, I have hereunto set my hand and seal of the Trust as of this 29th day of July, 2021.

 

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