Managed Accounts
Explore Our Wide Range of Separately Managed Accounts
Explore the five key reasons PIMCO stands out in the world of tax efficient Separately Managed Accounts (SMAs), including our commitment to client service, the scale of our operations, and the depth of our investment expertise, all designed to help you better serve your sophisticated clients.
A historic sell-off enhances value, with high yields, strong fundamentals, and ample reserves mitigating policy risks.
Municipal bonds priced at a premium often provide the same return as par bonds that have the same credit quality and structure – with the added potential benefit of higher cash flows and lower market volatility.
Starting portfolio yields may be a better guide to optimal spending than knowledge of future market returns.
LDI portfolios that emphasize corporate credit may align best with liabilities. Large allocations to Treasuries and STRIPS are not a panacea for liability hedging.
Mortgage bond reinvestment could be the Federal Reserve’s most effective and immediate tool to unlock the housing market – without even touching interest rates.
Investors should approach private investment grade (IG) credit with a focus on risk-adjusted returns versus liquid IG, while seeking to maintain a core IG trait: limited impairment risk.
In Jackson Hole, Chair Powell Hints at Near-Term Rate Cuts and Reiterates Long-Term Approach
The Federal Reserve notes the balance of risks to the U.S. economy may warrant a shift in policy stance – in other words, a rate cut.
We focus on high quality investments with compelling yields in an environment of elevated uncertainty.
Diversifying Portfolios is Easy with Pro
Disclosures
The managed account strategies described in this material are offered by Pacific Investment Management Company LLC and is available exclusively through financial professionals. Managed accounts have a minimum asset level and may not be appropriate for all investors. Financial professionals seeking more information should contact their managed accounts department or call their PIMCO representative.
Select Managed Accounts strategies consist of individual securities and a select combination of proprietary, commingled vehicles. These vehicles are available only through managed accounts utilizing the Managed Accounts strategy and are available by prospectus only.
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:
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. Income from municipal bonds is exempt from federal income tax and may be subject to state and local taxes and at times the alternative minimum tax.
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.
PIMCO does not provide legal or tax advice. Please consult your tax and/or legal counsel for specific tax or legal questions and concerns. The discussion herein is general in nature and is provided for informational purposes only. There is no guarantee as to its accuracy or completeness. Any tax statements contained herein are not intended or written to be used, and cannot be relied upon or used for the purpose of avoiding penalties imposed by the Internal Revenue Service or state and local tax authorities. Individuals should consult their own legal and tax counsel as to matters discussed herein and before entering into any estate planning, trust, investment, retirement, or insurance arrangement.
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.
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