Bonds that go the distance
PIMCO is founded and innovates a total return approach to bond investing.
PIMCO begins using mortgage-backed securities in client portfolios, making the firm one of the earliest investors in the sector.
Four years after S&P 500® Index futures contracts begin trading, PIMCO introduces StocksPLUS® strategies - groundbreaking portable alpha strategies that pair equity index futures with actively managed bond portfolios.
PIMCO becomes one of the first firms to offer long duration management of liabilities as a dedicated strategy.
PIMCO was an early leader in analyzing global inflation-linked bond (ILB) issues, and worked with the U.S. Treasury Department prior to the introduction of the TIPS program in early 1997.
Building on the firm’s experience with inflation-related securities, PIMCO expands into commodities and goes on to become one of the world’s largest commodities managers.
PIMCO begins managing alternatives as an extension of the firm’s core competencies, including our deep credit and macro expertise.
PIMCO launches a global ESG platform. The firm’s size and long-standing relationships with issuers have helped us become a leader in ESG engagement in fixed income.
PIMCO and the Center for Decision Research at The University of Chicago Booth School of Business announce an innovative partnership to support research at the forefront of behavioral science.
PIMCO launches one of the first sustainably-themed fixed income solutions to target global climate action.
PIMCO assumes oversight of PIMCO Prime (formally Allianz Real Estate) making the combined business one of the world’s largest real estate platforms, with more than $100 billion in real estate assets1.
1 Source: PERE as of 1 October 2020.
PIMCO’s leadership is committed to maintaining our culture of putting clients first and holding our people and practices to the highest standards.
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Past performance is not a guarantee or a reliable indicator of future results.
All investments contain risk and may lose value. 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. Management risk is the risk that the investment techniques and risk analyses applied by PIMCO will not produce the desired results, and that certain policies or developments may affect the investment techniques available to PIMCO in connection with managing the strategy. Equities may decline in value due to both real and perceived general market, economic and industry conditions. 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. 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. Treasury Inflation-Protected Securities (TIPS) are ILBs issued by the U.S. government. Commodities contain heightened risk including market, political, regulatory, and natural conditions, and may not be appropriate for all investors. Alternatives involve a high degree of risk and prospective investors are advised that these strategies are suitable only for persons of adequate financial means who have no need for liquidity with respect to their investment and who can bear the economic risk, including the possible complete loss, of their investment.
ESG investing is qualitative and subjective by nature, and there is no guarantee that the factors utilized by PIMCO or any judgment exercised by PIMCO will reflect the opinions of any particular investor, and the factors utilized by PIMCO may differ from the factors that any particular investor considers relevant in evaluating an issuer’s ESG practices. In evaluating an issuer, PIMCO is dependent upon information and data obtained through voluntary or third-party reporting that may be incomplete, inaccurate or unavailable, or present conflicting information and data with respect to an issuer, which in each case could cause PIMCO to incorrectly assess an issuer’s business practices with respect to its ESG practices. Socially responsible norms differ by region, and an issuer’s ESG practices or PIMCO’s assessment of an issuer’s ESG practices may change over time. There is no standardized industry definition or certification for certain ESG categories, for example “green bonds”; as such, the inclusion of securities in these statistics involves PIMCO’s subjectivity and discretion. There is no assurance that the ESG investing strategy or techniques employed will be successful. Past performance is not a guarantee or reliable indicator of future results.
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 for the long term, especially during periods of downturn in the market.
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 and should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. 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 LLC in the United States and throughout the world. ©2023, PIMCO