PIMCO launches GIS Income Fund
PIMCO has launched its GIS Income Fund, a global multi-sector bond fund seeking to generate a high and sustainable monthly income stream based on a flexible approach of investing in global income-generating bonds.
The fund is managed by Dan Ivascyn, managing director and head of the mortgage credit portfolio management team, and Alfred Murata, executive vice president and portfolio manager on the mortgage credit team.
The fund pursues a global multi-sector approach by exploiting existing sources of income in any given market environment. It is a high quality fixed income portfolio whose primary focus is to provide a high and consistent level of income. In addition, the fund aims to achieve long-term capital appreciation with a rigorous focus on mitigating downside risk.
Using income-efficient portfolio management strategies, the fund has the ability to invest in a broad range of fixed income securities including government bonds, inflation-linked bonds, agency and non-agency mortgage-backed securities, commercial mortgage-backed securities, investment grade corporate bonds, high yield corporate bonds, bank loans and emerging market bonds.
Unlike many other income-oriented strategies, the fund has a flexible approach, enabling it to tactically shift exposure from one country or sector to the next depending on where income-generating opportunities can be identified by PIMCO’s global team of over 80 credit investment professionals.
This flexibility allows the fund to tap into a much broader set of opportunities allowing it to seek the best income-generating opportunities while managing portfolio risk. It may invest in government bonds, inflation-linked bonds, agency and non-agency mortgage-backed securities, commercial mortgage-backed securities, investment grade corporate bonds, high yield corporate bonds, bank loans and emerging market bonds.
The fund has been added to PIMCO’s UCITS compliant Global Investor Series (GIS) fund range. This Dublin-registered range now comprises 45 sub-funds with $139 billion (€104billion, £85 billion) under management as of 31 December 2012.
With daily liquidity, investors can gain exposure to a broad range of asset classes, from the more traditional global and regional core fixed income funds, through credit portfolios, to asset allocation and alternative solutions. The funds are accessible in a variety of share classes in different currencies, depending on client requirements.
“The PIMCO GIS Income Fund is designed to help investors meet specific objectives in the midst of what we call the age of investment defense. We apply PIMCO’s time-tested investment process and an intense focus on delivering superior returns to our clients,” Ivascyn said.
PIMCO manages $27.6bn across all income-oriented strategies globally, as of 30 September 2012.