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Tennyson Oyler
(949) 219-3248
                                                                                                                                                            
 For Immediate Release

Pacific Life Funds Launches
PL Limited Duration High Income Fund

Another Opportunity for Investors to Diversify with Corporate Income

Newport Beach, Calif. (August 2, 2013) - To help investors enhance the overall yield of fixed-income holdings, Pacific Life Funds has launched the PL Limited Duration High Income Fund.

Generating income has become more difficult as interest rates have declined over the past two decades. Many investors are now hesitant to lock in yields from traditional bonds in anticipation of rising interest rates. The PL Limited Duration High Income Fund is part of the PL Fixed-Income Funds, designed to help investors find opportunities for higher yields through a range of fixed-income strategies that utilize corporate bonds and loans.

As a complement to the other funds, the PL Limited Duration High Income Fund invests primarily in high-yield corporate bonds and floating-rate loans. The portfolio management team is able to allocate between bonds and loans, if the opportunity is available in the markets. The overall portfolio is expected to maintain a zero to three-year duration, resulting in lower sensitivity to interest-rate movements. The Fund's floating-rate loan holdings are intended to help lower overall portfolio volatility. Historically, floating-rate loans have had a low correlation to other fixed-income markets, according to Barclays Live and Credit Suisse Plus 2013.

"It's time to diversify with corporate income. Treasury rates may be low, but there are still attractive opportunities among the broader spectrum of fixed-income instruments. At Pacific Life Funds, our goal is to bring a broad selection of funds to investors," says Chris van Mierlo, chief marketing officer and senior vice president of sales, Pacific Life's Retirement Solutions Division. "With the introduction of the PL Limited Duration High Income Fund, the PL Fixed-Income Funds series now offers six opportunities for diversifying with corporate income. Investors can select the funds they feel are best suited to their own needs and risk-reward preferences." 

To learn more about the PL Limited Duration High Income Fund, as well as all the funds in the PL Fixed-Income Funds, visit Pacific Life Funds at http://www.plfunds.com/.

About Risk
As with any mutual fund, the value of the Fund's holdings will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. The Fund is subject to interest-rate risk (bond prices generally fall when interest rates rise) and credit risk (the risk that an issuer may be unable or unwilling to meet its financial obligations). Floating-rate loans involve risk of default on interest or principal payments along with risks of bankruptcy and illiquidity. The Fund invests in high-yield bonds (also known as "junk bonds"), which have greater credit risk than higher-quality bonds. The Fund is subject to liquidity risk (the risk that certain investments may be difficult to purchase and sell in adverse market conditions). Investments in foreign markets are subject to currency fluctuations, political changes, and less liquidity than U.S. investments. Investments rated below investment grade are generally subject to greater price volatility and illiquidity than higher-rated investments.

About Pacific Life
Offering insurance since 1868, Pacific Life provides a wide range of life insurance products, annuities, and mutual funds, and offers a variety of investment products and services to individuals, businesses, and pension plans. Pacific Life counts more than half of the 100 largest U.S. companies as its clients. For additional company information, including current financial strength ratings, visit the About Pacific Life section of this website.

Pacific Life refers to Pacific Life Insurance Company and its affiliates, including Pacific Life & Annuity Company. Client count as of May 2013 is compiled by Pacific Life using the 2013 FORTUNE 500® list.

You should carefully consider an investment's goals, risks, charges, strategies, and expenses. This and other information about Pacific Life Funds are in the prospectus available from your financial advisor or by calling (800) 722-2333, option 2. Read the prospectus carefully before investing.

Pacific Life Fund Advisors LLC (PLFA), a wholly owned subsidiary of Pacific Life Insurance Company, is the investment advisor to the Pacific Life Funds (PLF) and the manager of certain PLF funds. PLFA also does business under the name Pacific Asset Management and manages certain PLF funds under that name.

Mutual funds are offered by Pacific Life Funds. Pacific Life Funds are distributed by Pacific Select Distributors, Inc. (member FINRA & SIPC), a subsidiary of Pacific Life Insurance Company (Newport Beach, CA), and are available through licensed third-party broker/dealers.