Emerging Markets

PIMCO's specialist team aims to use scale and global expertise to navigate this rich landscape.

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PIMCO's Emerging Markets Platform

$39B

Assets under management in emerging fixed income strategies (as of 9/30/2021)

28 PMs

Specialized and strictly devoted to emerging market portfolio management

25+ Analysts

Covering emerging markets credit research

Why Emerging Markets?

There are three compelling reasons to consider emerging market (EM) debt today – and four key reasons why we think PIMCO is well-positioned to be your information source for EM. Learn about the opportunities we see and the potential benefits of our EM platform.

Our Emerging Markets Funds

  • Morningstar Category

    Emerging-Markets Local-Currency Bond

    -star Rating

    Overall Morningstar Rating among funds. Based on risk-adjusted returns as of

    View Fund
  • Morningstar Category

    Emerging Markets Bond

    -star Rating

    Overall Morningstar Rating among funds. Based on risk-adjusted returns as of

    View Fund
  • Morningstar Category

    Emerging Markets Bond

    -star Rating

    Overall Morningstar Rating among funds. Based on risk-adjusted returns as of

    View Fund
  • Morningstar Category

    Emerging Markets Bond

    -star Rating

    Overall Morningstar Rating among funds. Based on risk-adjusted returns as of

    View Fund
  • Morningstar Category

    Emerging-Markets Local-Currency Bonds

    -star Rating

    Overall Morningstar Rating among funds. Based on risk-adjusted returns as of

    View Fund

PIMCO's Capabilities in Emerging Markets

Leverage our built-to-scale, tested process for informational, analytical and behavioral advantages.

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Extensive Resources

Gain insight from our ability to cover this resource-intensive asset class with a global team, 24-hour coverage and strong issuer relationships.

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Macroeconomic Insights

Wield top-down expertise from our investment committee, global advisory board and regional portfolio committees to guide the EM investment narrative in a global context.

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Rigorous Risk Management

Aim to identify extreme events and calibrate sensitivities with our quantitative analytical models and diversification across the opportunity set.

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Specialized Knowledge

Focus on proprietary relationships and bespoke transactions to access opportunities and information.

Active Management in Emerging Markets

Three types of active positioning may help reduce traditional EM risk while maximizing potential return.

Active positioning for EM portfolios

  • OPPORTUNISTIC ALPHA

    Seek potential returns from rare idiosyncrasies.

  • THEMATIC TILTS

    Traditional over- and under-weights by country, sector and risk factor.

  • BETA ENHANCEMENTS

    Seek to eliminate typical EM index inefficiencies.

Source: PIMCO. For illustrative purposes only.

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Disclosures

Investors should consider the investment objectives, risks, charges and expenses of the funds carefully before investing. This and other information are contained in the fund’s prospectus and summary prospectus, if available, which may be obtained by contacting your investment professional or PIMCO representative. Click here for a complete list of the PIMCO Funds prospectuses and summary prospectuses. Please read them carefully before you invest or send money.

Past performance is not a guarantee or a reliable indicator of future results.

Investments made by a Fund and the results achieved by a Fund are not expected to be the same as those made by any other PIMCO-advised Fund, including those with a similar name, investment objective or policies. A new or smaller Fund’s performance may not represent how the Fund is expected to or may perform in the long-term. New Funds have limited operating histories for investors to evaluate and new and smaller Funds may not attract sufficient assets to achieve investment and trading efficiencies. A Fund may be forced to sell a comparatively large portion of its portfolio to meet significant shareholder redemptions for cash, or hold a comparatively large portion of its portfolio in cash due to significant share purchases for cash, in each case when the Fund otherwise would not seek to do so, which may adversely affect performance.

A word about risk: Investing in foreign denominated and/or domiciled securities may involve heightened risk due to currency fluctuations, and economic and political risks, which may be enhanced in emerging markets. Currency rates may fluctuate significantly over short periods of time and may reduce the returns of a portfolio. Investing in the bond market is subject to risks, including market, interest rate, issuer, credit, inflation risk, and liquidity risk. The value of most bonds and bond strategies are impacted by changes in interest rates. Bonds and bond strategies with longer durations tend to be more sensitive and volatile than those with shorter durations; bond prices generally fall as interest rates rise, and low interest rate environments increase this risk. Reductions in bond counterparty capacity may contribute to decreased market liquidity and increased price volatility. Bond investments may be worth more or less than the original cost when redeemed. Mortgage and asset-backed securities may be sensitive to changes in interest rates, subject to early repayment risk, and their value may fluctuate in response to the market’s perception of issuer creditworthiness; while generally supported by some form of government or private guarantee there is no assurance that private guarantors will meet their obligations. High-yield, lower-rated, securities involve greater risk than higher-rated securities; portfolios that invest in them may be subject to greater levels of credit and liquidity risk than portfolios that do not. Equities may decline in value due to both real and perceived general market, economic, and industry conditions. 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. Diversification does not ensure against loss. For risks associated with a particular Fund, please refer to the Fund's prospectus.

There is no guarantee that these investment strategies will work under all market conditions or are appropriate for all investors and each investor should evaluate their ability to invest long-term, especially during periods of downturn in the market.

Morningstar Rating™ rated monthly, for Institutional share class; other classes may have different performance characteristics. A rating is not a recommendation to buy, sell or hold a fund. The Emerging Markets Bond Fund was rated against the following numbers of Emerging Markets Bond funds over the following time periods: Overall 4 Stars (258 funds rated); 3 Yrs. 4 Stars (258 funds rated); 5 Yrs. 4 Stars (218 funds rated); 10 Yrs. 3 Stars (71 funds rated). The Emerging Markets Corporate Bond Fund was rated against the following numbers of Emerging Markets Bond funds over the following time periods: Overall 3 Stars (258 funds rated); 3 Yrs. 3 Stars (258 funds rated); 5 Yrs. 4 Stars (218 funds rated); 10 Yrs. 3 Stars (71 funds rated). The Emerging Markets Full Spectrum Bond Fund was rated against the following numbers of Emerging Markets Bond funds over the following time periods: Overall 3 Stars (258 funds rated); 3 Yrs. 3 Stars (258 funds rated); 5 Yrs. 3 Stars (218 funds rated). The Emerging Markets Local Currency and Bond Fund was rated against the following numbers of Emerging-Markets Local-Currency Bond funds over the following time periods: Overall 4 Stars (73 funds rated); 3 Yrs. 4 Stars (73 funds rated); 5 Yrs. 4 Stars (69 funds rated); 10 Yrs. 3 Stars (51 funds rated). The Emerging Markets Currency and Short-Term Investments Fund was rated against the following numbers of Emerging-Markets Local-Currency Bond funds over the following time periods: Overall 4 Stars (73 funds rated); 3 Yrs. 3 Stars (73 funds rated); 5 Yrs. 4 Stars (69 funds rated); 10 Yrs. 5 Stars (51 funds rated).

The Morningstar Rating™ for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. Morningstar, Inc.® 2021. All rights reserved. The information contained herein: (1) is proprietary to Morningstar (2) may not be copied or distributed and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

PIMCO as a general matter provides services to qualified institutions, financial intermediaries and institutional investors. Individual investors should contact their own financial professional to determine the most appropriate investment options for their financial situation. 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. Information contained herein has been obtained from sources believed to be reliable, but not guaranteed. No part of this material may be reproduced in any form, or referred to in any other publication, without express written permission. PIMCO is a trademark of Allianz Asset Management of America L.P. in the United States and throughout the world. ©2021, PIMCO

PIMCO Investments LLC, distributor, 1633 Broadway, New York, NY 10019, is a company of PIMCO.

CMR2021-0901-1823583-T

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