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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’s time-tested risk controls are a central component of our portfolio management. The process relies on analytical tools that measure and monitor portfolio volatility, and PIMCO has invested considerable resources in developing proprietary models to help with this analysis. These models include our Bonds Under Management report which gives extensive summary information of portfolio holdings; a Risk Optimizer which indicates an optimum portfolio structure for a set of expected returns, volatilities and correlations; and our proprietary Level, Slope and Curvature model, which was designed to give a more accurate measure of individual security and portfolio risk than traditional duration and convexity analysis can allow.
Extensive use of analytical models allows us to leverage our investment professionals and provides a dispassionate check on our investment decisions. It also permits us to perform attribution analysis to determine which strategies consistently add value.
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. ©2014, PIMCO.
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