This is a marketing communication. Please refer to the Prospectus of the PIMCO Funds: Global Investors Series Plc and to the KIID before making any final investment decisions.
Fund Description
The Global Bond Ex-US Fund is a diverse actively managed portfolio of global fixed-income securities. The fund invests primarily in investment grade bonds denominated in major world currencies. The average duration of the fund will normally vary within +/- 3 years of the benchmark. The non-US dollar exposure is limited to 20% of total assets.
Fund Specific Risks
Counterparty Risk
Other financial institutions provide services such as safekeeping of assets or as a counterparty to financial contracts such as derivatives. The fund is exposed to the risk of bankruptcy, or other type of default of transaction counterparties.
Credit and Default Risk
A decline in the financial health of an issuer of a fixed income security can lead to an inability or unwillingness to repay a loan or meet a contractual obligation. This could cause the value of its bonds to fall or become worthless. Funds with high exposures to non-investment grade securities have a higher exposure to this risk.
Currency Risk
Changes in exchange rates may cause the value of investments to decrease or increase.
Derivatives and Counterparty Risk
The use of certain derivatives could result in the fund having a greater or more volatile exposure to the underlying assets and an increased exposure to counterparty risk. This may expose the fund to larger gains or losses associated with market movements or in relation to a trade counterparty being unable to meet its obligations.
Emerging Markets Risk
Emerging markets, and especially frontier markets, generally carry greater political, legal, counterparty and operational risk. Investments in these markets may expose the fund to larger gains or losses.
Liquidity Risk
Difficult market conditions could result in certain securities becoming hard to sell at a desired time and price.
Interest Rate Risk
Changes in interest rates will usually result in the values of bond and other debt instruments moving in the opposite direction (e.g. a rise in interest rates likely leads to fall in bond prices).
Mortgage Related and Other Asset Backed Securities Risks
Mortgage or asset backed securities are subject to similar risks as other fixed income securities, and may also be subject to prepayment risk and higher levels of credit and liquidity risk.
China InterBank Bond Market ("CIBM")
The fund may be exposed to liquidity risks, settlement risks, default of counterparties and market volatility associated with CIBM. In addition, the CIBM rules are new and still subject to further clarification and/or changes, which may adversely affect the fund's capability to invest in the CIBM.
Investor Benefits
This fund offers efficient exposure to a sector that can be difficult to access directly and potential for enhanced returns through diversification.
The Fund Advantage
The fund’s extensive opportunity set ex-US can offer diversified sources of returns, benefitting from the manager’s views on interest rates, exchange rates, credit and country trends.
BENCHMARK
Bloomberg Global Aggregate ex‑USD (USD Hedged) Index
BENCHMARK DESCRIPTION
Bloomberg Global Aggregate ex-USD (USD Hedged) Index provides a broad-based measure of the global investment-grade fixed income markets. The three major components of this index are the US Aggregate, the Pan-European Aggregate, and the Asian-Pacific Aggregate indices. The index also includes Eurodollar and Euro-Yen corporate bonds, Canadian government, agency and corporate securities, and USD investment grade 144A securities.
SHARE CLASS INCEPTION
12/12/2018
OLDEST SHARE CLASS INCEPTION
{{ overviewDataJSON.oldest_shareclass_inception_date }}
TICKER
{{ overviewDataJSON.symbol }}
SEDOL
{{ overviewDataJSON.sedol }}
CUSIP
{{ overviewDataJSON.cusip }}
VALOREN
{{ overviewDataJSON.valoren }}
WKN
{{ overviewDataJSON.wkn }}