Pimco Total Return Fund’s annual capital gains distribution may be less taxing than some expected.

The $170.9 billion flagship fund is expected to pay out 0.76% of its net asset value to shareholders Dec. 10, all of it long-term gains, according to Pacific Investment Management Co.'s website. The figure is a preliminary estimate as of Nov. 7, and Pimco warns that some of its capital gains estimates could change significantly as year-end tax calculations are performed.