|
|
 |
| PIMCO Global Bond Strategy |
|
|
|
|
| Investment Style |
|
Global is a core international bond investment style that seeks maximum current income and price appreciation, while keeping tracking error (standard deviation of excess returns) to the index at a moderate 2% to 3%. All sectors of the Global bond market are utilized for both currency hedged and unhedged assignments. Hedged is similar/identical to unhedged, except that currency is hedged into U.S. dollars so that its exposure to foreign currency fluctuations will be much lower. |
|
| Benchmark |
|
J.P. Morgan Government Bond Index, Citigroup World Government Bond Index. |
|
| Portfolio Duration |
|
Duration is managed between three and seven years. Duration is generally within one year of the portfolio's index. |
|
| Market Sectors
Utilized |
|
Government, Corporate, Mortgage, Asset Backed, Money Market, Emerging Markets, Inflation Linked. |
|
| Value Added |
|
Global seeks to add value through multiple sources including:
- Country Bond Allocation
- Currency Risk Management
- Duration Management
- Yield Curve or Maturity Structuring
- Bottom Up Techniques to Identify Undervalued Securities
- Sector Rotation
- Credit Research
- Quantitative Research
- Cost Efficient Trading
|
|
| For more information, please go to the
Contact Us page. |
|
|
|
|
|
|
Past performance is not a guarantee or a reliable indicator of future results. Investing in non-U.S. securities involves heightened risk due to currency fluctuations, and economic and political risks, which may be enhanced in emerging markets. Investing in the bond market is subject to certain risks including market, interest-rate, issuer, credit, and inflation risk. Mortgage and asset-backed securities may be sensitive to changes in interest rates, subject to early repayment risk, and while generally backed by a government, government-agency or private guarantor there is no assurance that the guarantor will meet its obligations. Derivatives may involve certain costs and risks such as liquidity, interest rate, market, credit, management and the risk that a position could not be closed when most advantageous. Investing in derivatives could lose more than the amount invested.
The JPMorgan Government Bond Index is an unmanaged market index that currently comprises the local currency, fixed rate coupon issues of 13 markets greater than 1-year in maturity. It is not possible to invest directly in an unmanaged index.
This material has been distributed for educational 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 of Pacific Investment Management Company LLC, 840 Newport Center Drive, Newport Beach, CA 92660. ©2008, PIMCO.
|
|