Pimco focuses on dividends in two fund launches
Pimco has launched two actively managed funds focused on dividends, in an environment where the near-term outlook for capital growth in many stock markets remains uncertain.
Pimco’s Dividend and Income Builder and EqS Dividend funds represent further expansion by the fixed income specialist into equities.
Each fund combines active management with the firm’s macroeconomic views, to achieve growing income and long-term capital appreciation.
Pimco EqS Dividend is focused on equities, whereas the Dividend and Income Builder fund has both global equity investments and some fixed income positions.
Neel Kashkari, a managing director and head of global equities at the unit of Allianz Global Investors, said: “We believe a strategy focused on global dividend-paying stocks is compelling in any market environment.”
The funds will be managed by Brad Kinkelaar and Cliff Remily from Pimco’s Newport Beach office. Fixed income positions for the Dividend and income Builder will be run by Eve Tournier, executive vice president and portfolio manager.
Kinkelaar said the funds’ global focus “provides the best potential for dividend investors, as many attractive dividend-paying companies are often found outside the US and can provide investors with a broader range of income options than a US-only portfolio.”
The funds are in Pimco’s €65bn Ucits-compliant Global Investor Series fund range in Ireland. The range offers daily liquidity.