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A low turnover, low duration core bond strategy that seeks to optimize income, consistent with preservation of capital and prudent investment management, by investing in a diversified portfolio of high quality shorter-term bonds.
Seeks consistent income across different market environments.
Leverages PIMCO’s time-tested investment process, which has been honed across virtually every market environment for over 50 years. Our rigorous process is supported by a team of global investment professionals, consisting of portfolio managers and a global credit analyst team
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PIMCO is committed to active bond management within a long-term framework. Our investment process begins with our annual Secular Forum, where we develop our three- to five-year outlook for the global economy, inflation and interest rates. Through our quarterly cyclical forums, we assess the more short-term trends – those in the next 6 to 12 months – within our long-term outlook.
The investment forums help guide exposures in portfolios to specific factors, including interest rate sensitivity and credit risk. Rigorous bottom-up analysis, using advanced proprietary tools and the firm’s expertise across fixed income markets, drives the security selection process and facilitates the identification and analysis of undervalued securities.
The objective is to combine perspectives at both the portfolio and security levels to consistently add value over time with prudent acceptable levels of portfolio risk.
PIMCO Core Low Duration Managed Account focuses on high quality and shorter-term bonds across a range of fixed income markets: U.S. government, including its agencies and instrumentalities, U.S. agency mortgage-backed securities, and investment grade corporate credit.
The managed account portfolio will consist of:
Emphasizes diversification – aiming to avoid concentrated risk exposures – in an effort to source yield from a diversified mix of securities that span the most liquid segments of the bond market.
Head of Short-Term Portfolio Management
Portfolio Manager, Treasuries, Agencies, Rates
Portfolio Manager, Short-Term
Past performance is not a guarantee or a reliable indicator of future results.
The managed account strategies described in this material are offered by Pacific Investment Management Company LLC and are available exclusively through financial professionals. Managed accounts have a minimum asset level and may not be suitable for all investors. Financial professionals seeking more information should contact their managed accounts department or call their PIMCO representative.
Individual account holdings will vary depending on the size of an account, cash flows and account restrictions. Portfolio holdings are subject to change daily without notice. At any time an individual account managed in this strategy may or may not include securities held by another portfolio. Consequently, any particular account may have portfolio characteristics and performance that differ from another individual account in this strategy.
A word about risk:
Investing in the bond market is subject to certain risks, including market, interest rate, issuer, credit and inflation 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. Sovereign securities are generally backed by the issuing government; obligations of U.S. government agencies and authorities are supported by varying degrees, but are generally not backed by the full faith of the U.S. government; portfolios that invest in such securities are not guaranteed and will fluctuate in value. Inflation-linked bonds (ILBs) issued by a government are fixed income securities whose principal value is periodically adjusted according to the rate of inflation; ILBs decline in value when real interest rates rise. Floating rate loans are not traded on an exchange and are subject to significant credit, valuation and liquidity risk. 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. 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.