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PIMCO Global Advantage is a strategic platform designed to help fixed-income investors seize opportunities produced by dramatic secular shifts in the global economy. The strategy utilizes fixed-income securities from both developed and developing markets, and is benchmarked to the proprietary PIMCO Global Advantage Bond Index (GLADI™), a GDP-weighted index intended to offer investors an improved fixed-income market “beta”.
The Global Advantage Bond Strategy Provides Investors with the Potential for:
While the GLADI may provide an attractive beta opportunity and serves as the strategy’s starting point, the Global Advantage Bond Strategy also benefits from PIMCO’s breadth of investment experience, allowing the complete expression of PIMCO’s best investment ideas. Having an experienced active fixed-income manager is essential to seizing the potential and managing the risks in this new world, particularly where vast expertise in both developed and emerging markets is required. With the firm’s secular and cyclical forum process as a foundation, the Global Advantage management team works with PIMCO’s Global Investment Committee to seek out potential sources of added value around the world.
PIMCO’s disciplined active management is ideally suited to add value on two levels: with macro-level, top-down strategies and security-level, bottom-up strategies. PIMCO’s disciplined top-down cyclical and secular investment process is ideally suited for asset allocation and global macro calls, while our global presence and specialty desks focus on providing the Global Advantage Bond Strategy with top trades from bottom-up credit and security analysis.
PIMCO has focused on risk management since our founding in 1971. As new technologies and financial instruments develop, we strive to ensure that our risk management procedures remain effective and that we stay ahead of our competition. We dedicate significant financial and intellectual resources to address risk management.
We feel risk manifests itself in two main forms – investment and operational. Effective investment risk management begins with the identification of client objectives and their level of risk aversion. From there, we develop a set of appropriate investment guidelines and effective risk measures. Advanced proprietary analytics allow us to model securities under a multitude of scenarios including best and worst cases. We believe the decision to hold a security is just as important as the decision to buy. As a result, we price and re-evaluate portfolio holdings on a regular basis.
Operational risk is equally as important as investment risk. Operational risk deals with problems or errors that may arise during day-to-day operations of the firm. Our organizational structure is designed to cope with this organizational risk. This is accomplished by segregating responsibilities for portfolio management, account management, and investment support monitored by an independent compliance group. At PIMCO, we have embraced this methodology from our inception and it has benefited both our clients and the organization as a whole. Our system has clearly defined checks and balances to provide reasonable assurance that all risk exposures are handled in an appropriate manner.
This material contains the current opinions of the manager and such opinions are subject to change without notice. This material has been distributed for informational purposes only and should not be considered as investment advice or a recommendation of any particular security, strategy or investment product.
No part of this material may be reproduced in any form, or referred to in any other publication, without express written permission. Pacific Investment Management Company LLC, 650 Newport Center Drive, Newport Beach, CA 92660, 800-387-4626. ©2015, PIMCO.
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