The PIMCO Multi-Asset Alternatives Fund (“PMAF”) is a liquid alternatives mutual fund designed to deliver low correlatedFootnote1 absolute returns through a diversified set of systematic strategies across liquid global markets.
Investment Strategies
Low correlation. High impact.
PIMCO Multi-Asset Alternative Fund (PMAF)
In unpredictable times, thoughtful portfolio diversification is critical.
With institutional roots, PIMCO Multi-Asset Alternative Fund (PMAF) provides access to liquid, low correlationFootnote1 multi-asset diversification designed to seek absolute returns.
Multi-asset approach
Allocations across fixed income, equities, commodities and currencies helps support diversification across market environments.
Absolute return
Low correlation to stocks and bonds allows the fund to systemically pursue attractive risk-adjusted returns with mitigated risk.
Liquid alternative structure
Provides access to a daily liquid multi-asset strategy with no lock-up or gate.Footnote2
How is the fund constructed?
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4 asset classes
Fixed Income Markets, Commodities, Currencies, and Stocks. -
Diversification Across Strategies
Utilizes multiple PIMCO strategies within three styles: relative value, macro directional, and event driven. -
3 systematic approaches
Disciplined targeting of diverse performance across Relative Value, Macro Directional and Event Driven drivers.
PIMCO Quant Platform Investment Team
Expert
Matt Dorsten
Portfolio Manager, Quantitative Strategy
Mr. Dorsten is a managing director in the Newport Beach office and leads PIMCO's quantitative portfolio management group. He is the lead portfolio manager for PIMCO's range of quantitative alternative strategies. He was previously a member of the analytics group working on mortgage-backed securities and event-linked bonds. Prior to joining PIMCO in 2006, he received his Ph.D. in theoretical particle physics from the California Institute of Technology, where he was a National Science Foundation Graduate Research Fellow. He has 20 years of investment experience and holds undergraduate degrees in mathematics and physics from Ohio State University.
Expert
Graham A. Rennison
Quantitative Portfolio Manager
Mr. Rennison is an executive vice president in the quantitative portfolio management group in the Newport Beach office. He is the lead portfolio manager for systematic credit and interest rate strategies, and for the target volatility fund suite. Prior to joining PIMCO in 2011, Mr. Rennison was a director and head of systematic strategies research at Barclays in New York. Prior to that, he spent five years at Lehman Brothers in quantitative credit research in New York and London. He has 24 years of investment experience and holds master's and undergraduate degrees in mathematics from Cambridge University, England.
Expert
Paul-James White
Portfolio Manager
Mr. White is an executive vice president and a portfolio manager on the quantitative portfolio management team in the Newport Beach office. Prior to joining PIMCO in 2021, he worked at Man AHL, where he was head of portfolio management and co-portfolio manager of Man AHL's flagship multi-strategy program. Prior to Man AHL, Mr. White was a fellow of All Souls College, University of Oxford, as well as the Institut des Hautes Etudes Scientifiques, where he specialized in number theory research. He has served as a member of the investment committee of All Souls College, Oxford. He has 13 years of investment experience and holds a Ph.D. in mathematics from the University of Paris, a master's degree from the University of Cambridge, and a bachelor's degree awarded with the University Medal from the University of Wollongong.
Frequently Asked Questions
PIMCO has managed quantitative and alternative investment strategies globally for more than 20 years. PMAF is a Canadian-domiciled fund based on PIMCO's flagship quantitative multi-strategy approach, which was launched in 2017 and combines a diversified set of systematic investment strategies across fixed income, credit, mortgages, currencies, commodities and equities.
Yes, PMAF is a Liquid Alternatives Mutual Fund offering the flexibility of daily liquidity, with no lock-up or gatingFootnote2 The Fund is available in both Series A and F, in both CAD and USD Units.
PMAF may complement traditional stock and bond portfolios by pursuing differentiated sources of return that may behave differently across market environments. By seeking returns beyond traditional equity and fixed income allocations, we believe PMAF can help strengthen portfolio diversification and mitigate reliance on a single source of risk.
PMAF seeks to generate diversified sources of return through investments across multiple asset classes, including fixed income, equities, currencies, and commodities. The Fund utilizes a collaborative approach from resources across all of PIMCO and is supported by 280+ PIMCO PMs and Analysts and the integration of quantitative insights with PIMCO's macro and sector expertise.Footnote5