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A true core bond strategy focusing on high - quality intermediate-term bonds and aiming to avoid concentrated risk exposure.
Employs a variety of value-added strategies across the global bond markets to increase total return potential and reduce overall risk.
Has sought consistent, solid results in both up and down markets.
Use of a PIMCO managed commingled fund within the portfolio allows for greater diversification potential than smaller separate accounts could otherwise achieve.
Pursues maximum total return - income plus capital appreciation - an approach pioneered by PIMCO over 40 years ago.
Our investment process utilizes both “top - down” and “bottom - up” strategies. Top - down strategies focus on duration, yield curve positioning, volatility, and sector rotation. These strategies are deployed from a macro view of the portfolio driven by our secular outlook of the forces likely to influence the economy and financial markets over the next three to five years and our cyclical views of two - to four-quarter trends. Implementation in portfolios is effected by selecting securities that achieve the designated objectives. Bottom - up strategies drive our security selection process and facilitate the identification and analysis of undervalued securities. Here, we employ advanced proprietary analytics and expertise in all major fixed - income sectors. The objective is to combine perspectives from both the portfolio and security levels to consistently add value over time within acceptable levels of portfolio risk.
PIMCO differentiates itself from many managers by taking a total return approach to bond management. Rather than seek only income, PIMCO pursues maximum total return - income plus capital appreciation. PIMCO pioneered this philosophy 40 years ago, and it has been critical to the firm's long-term performance record. Our Total Return philosophy is founded on the principle of diversification. We believe that no single strategy should dominate returns. By relying on multiple sources of value that arise from a diversified portfolio, we seek to generate a solid, consistent track record.
PIMCO Total Return managed account portfolios are constructed with three components: a core segment of individual bonds, and two sector - oriented PIMCO - managed commingled vehicles. The core segment normally represents 55 - 100% of the overall portfolio and focuses on liquid bonds of the highest credit quality. The commingled vehicles together represent 0% to normally no more than 45% of the portfolio and invest in specialized areas of the bond market. This innovative structure allows smaller managed account portfolios the flexibility to invest across all sectors of the bond market on a cost-effective basis.
CIO U.S. Core Strategies
Head of US Financial Institutions Portfolio Management
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.