Global Income Opportunities Fund

PGI

Updated 20 February 2024

Objective

The Fund's investment objectives are to: a) provide holders of Units ("Unitholders") with monthly cash distributions; b) maximize total return to Unitholders through distributions and capital appreciation; and c) preserve capital.

Primary Portfolio

Primarily fixed-income securities selected from multiple global fixed-income sectors

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Overview

Fund Overview

Pursues income across global fixed-income sectors.

The global economic landscape is constantly changing, causing different bond sectors to go in and out of favour. This Fund’s multi-sector approach allows it to seek out the best income-generating ideas in any given market climate, targeting multiple sources of income from a global opportunity set.

  • Offers access to PIMCO’s best income-generating ideas across multiple global fixed-income sectors.
  • Investments may include mortgage-backed securities, investment-grade and high-yield corporates, developed and emerging markets corporate and sovereign bonds, other income producing securities and related derivative instruments.
  • Dynamic sector allocation reflects PIMCO’s macroeconomic views and assessments of relative value and credit market trends.
  • Closed-end vehicle allows the fund’s managers to invest in less-liquid securities, which tends to increase risk and potential returns.
  • Benefits from PIMCO’s robust credit research capabilities and risk management.

PIMCO has been actively managing income-producing securities for 40 years and is recognized as one of the world’s premier investment managers. Known for its innovative philosophy, global expertise and resources, and skilled investment professionals, the firm has dedicated specialists in virtually every sector of global fixed income. PIMCO’s innovative investment process is designed to add value for clients by marrying a top-down, global macroeconomic outlook with bottom-up analysis from one of the industry’s most experienced research teams.

ASSET CLASS
  • Fixed Income
  • Multi Sector
CUSIP

72202T101

IPO Market Price

$10.00

IPO NAV

$9.50

Managers

Alfred T. Murata

Portfolio Manager, Mortgage Credit

View Profile for Alfred T. Murata

Daniel J. Ivascyn

Group Chief Investment Officer

View Profile for Daniel J. Ivascyn

Joshua Anderson

Head of Global ABS Portfolio Management

View Profile for Joshua Anderson

Distributions

Historical Prices & Distributions

Daily Distribution Rates

as of 20-02-2024
Daily NAV Distribution Rate1 9.04%
Daily Market Price Distribution Rate1 9.03%

Distribution Rates

as of 31-01-2024
Monthly NAV Distribution Rate1 9.09%
Monthly Market Price Distribution Rate1 9.13%

Distributions

Latest Distribution ($/Share)2 as of 30-01-2024 (CAD) $0.05688
Dividend (YTD) as of 30-01-2024 (CAD) $0.05688
Special Cash Distribution as of - -

disclosures

1Distribution yields are not performance and are calculated by annualizing the most recent distribution per unit and dividing by the NAV or Market Price as of the reported date.
2Data does not include special cash dividends.
Distribution rate is calculated by dividing the last distribution paid per unit (annualized) by the market price or NAV per unit as indicated.

Fees & Expenses

Management Fee (%)3 1.25%
Management Expense Ratio (%)4 5.24%

disclosures

3The Management Fee is applied to the Fund's total assets. Total assets is the aggregate value of the assets of the Fund.
4As of 06/30/2023. Management expense ratio is based on total expenses which includes the Management Fee (excluding commissions and other portfolio transaction costs) for the stated period and is expressed as an annualized percentage of daily average net asset value during the period.

Prices & Performance

Daily Statistics

All data as of 20-02-2024

NAV $7.55 Market Price $7.56
Daily Change $0.02 Daily Change $-0.02
One Day Return 0.27% One Day Return -0.26%
Premium / Discount 0.13%

All data as of

All data as of

You will usually pay brokerage fees to your dealer if you purchase or sell units of the Fund on the Toronto Stock Exchange (the "TSX"). If the units are purchased or sold on the TSX, investors may pay more than the current net asset value when buying units of the Fund and may receive less than the current net asset value when selling them. There are ongoing fees and expenses associated with owning units of an investment fund. An investment fund must prepare disclosure documents that contain key information about the fund. You can find more detailed information about the Fund in these documents.


The indicated rates of return are the historical annual compounded total returns including changes in unit value and reinvestment of all distributions and do not take into account certain fees such as redemption fees or optional charges or income taxes payable by any securityholder that would have reduced returns. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.

Calendar Year Returns %

All data as of

Fund Pricing

(Since Inception) All data as of 21-02-2024

High/Low Ranges - One Year

All data as of 20-02-2024

High/Low NAV $7.76/$6.94
High/Low Market Price $7.94/$6.53

disclosures

Investments made by a Fund and the results achieved by a Fund are not expected to be the same as those made by any other PIMCO-advised Fund, including those with a similar name, investment objective or policies. A new or smaller Fund’s performance may not represent how the Fund is expected to or may perform in the long-term. New Funds have limited operating histories for investors to evaluate and new and smaller Funds may not attract sufficient assets to achieve investment and trading efficiencies.

Portfolio Composition

All data as of unless otherwise stated

Top Industry Sectors
Market Value %

Healthcare 8.31
Technology 5.00
Aerospace/Defense 4.90
Wirelines 4.27
Banks 3.95
Consumer Products 3.28
Media Noncable: Broadcasting 3.08
Satellites 2.51
Oilfield Services 2.13
Retailers 1.71

Maturity %

0-1 yrs 19.31
1-3 yrs 12.33
3-5 yrs 23.90
5-10 yrs 19.58
10-20 yrs 16.54
20+ yrs 8.34
Effective Maturity (yrs) 5.57

Duration in Years

Effective Duration (yrs) 3.55

Sector Allocation %

MV % DWE %
US Government Related -1.03 25.90
Mortgage 33.77 52.83
Non-Agency Mortgage 32.62 52.59
Agency MBS 1.15 0.24
CMBS 2.31 1.06
High Yield Credit 25.35 13.70
Non-USD Developed 22.46 -8.23
Emerging Markets 6.55 4.47
Invest. Grade Credit 0.35 0.29
Municipal 2.16 9.54
Other 10.66 0.49
Net Other Short Duration Instruments5 -2.58 -0.06

Top Countries %

MV% DWE%
United States 70.86 92.04
Canada 6.42 -2.58
Spain 4.51 0.00
United Kingdom 4.06 0.40
France 3.38 2.10

disclosures

5Net Other Short Duration Instruments includes securities and other instru​ments (except instruments those tied to emerging markets by country of risk) with an effective duration less than one year and rated investment grade or higher or, if unrated, determined by PIMCO to be of comparable quality, commingled liquidity funds, uninvested cash, interest receivables, net unsettled trades, broker money, short duration derivatives and derivatives offsets. With respect to certain categories of short duration securities, the Adviser reserves the discretion to require a minimum credit rating higher than investment grade for inclusion in this category. Derivatives Offsets includes offsets associated with investments in futures, swaps and other derivatives. Such offsets may be taken at the notional value of the derivative position.
Market Value Weighted based on % Total Assets.
Duration is a measure of the fund's price sensitivity to changes in interest rates expressed in years.

Assets & Leverage

All data as of 31-01-2024 unless otherwise stated

Assets (in millions)

Net Assets $274

Leverage

% of Total Managed Assets % of Common Net Assets
Total Effective Leverage 29.25 0.00
Credit Default Swaps6 0.07 0.00
Committed Facility7 29.19 0.00

disclosures

6Credit Default Swaps (“CDS”) (%) consists of the aggregate notional amount of sell protection CDS plus the net market value of buy protection CDS, as applicable, divided by Total Managed Assets.
7The Fund has entered into a committed facility agreement with an Irish affiliate of a Canadian Schedule II bank.
Past performance is no guarantee of future results. Investing in securities entails risk, including possible loss of principal. The use of leverage may cause a Fund to liquidate portfolio positions when it may not be advantageous to do so to satisfy its obligations or to meet segregation requirements. The use of leverage may cause a Fund to be more volatile, which may increase the risk of investment loss.

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Disclosures

You will usually pay brokerage fees to your dealer if you purchase or sell units of the Fund on the Toronto Stock Exchange (the "TSX"). If the units are purchased or sold on the TSX, investors may pay more than the current net asset value when buying units of the Fund and may receive less than the current net asset value when selling them. There are ongoing fees and expenses associated with owning units of an investment fund. An investment fund must prepare disclosure documents that contain key information about the fund. You can find more detailed information about the Fund in these documents. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.
The information relating to the Fund presented on this website has not been audited and may be calculated and presented differently from similar information (such as representations of portfolio composition, assets and leverage and other data) included in the Fund's annual financial statements and other sources.
The Fund is a closed-end exchange traded investment fund. The material on this website is presented only to provide information and is not intended for trading purposes. Closed-end funds, unlike open-end funds, are not continuously offered. After the initial public offering, units are sold on the open market through a stock exchange. Closed-end funds may be leveraged and carry various risks depending upon the underlying assets owned by a fund. Investment policies, management fees and other matters of interest to prospective investors may be found in each closed-end fund annual and semi-annual report. For additional information, please contact your investment professional.
A word about risk: 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. 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. High yield, lower-rated securities involve greater risk than higher-rated securities; portfolios that invest in them may be subject to greater levels of credit and liquidity risk than portfolios that do not. The use of leverage may cause a portfolio to liquidate positions when it may not be advantageous to do so to satisfy its obligations or to meet segregation requirements. Leverage, including borrowing, may cause a portfolio to be more volatile than if the portfolio had not been leveraged. 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. Diversification does not ensure against loss.

The Fund may invest directly or indirectly in securities of stressed or distressed issuers, which include securities at risk of being in default as to the repayment of principal and/or interest at the time of acquisition by the Fund or that are rated in the lower rating categories by one or more nationally recognized statistical rating organizations (for example, Ca or lower by Moody's or CC or lower by S&P or Fitch) or, if unrated, are determined by PIMCO to be of comparable quality. Debt instruments of below investment grade quality (below Baa3 by Moody's or below BBB- by S&P or Fitch) are regarded as having predominantly speculative characteristics with respect to capacity to pay interest and to repay principal, and are commonly referred to as “high yield” securities or “junk bonds.” Debt instruments in the lowest investment grade category also may be considered to possess some speculative characteristics. The Fund may, for hedging, investment or leveraging purposes, make use of credit default swaps, which are contracts whereby one party makes periodic payments to a counterparty in exchange for the right to receive from the counterparty a payment equal to the par (or other agreed-upon) value of a referenced debt obligation in the event of a default or other credit event by the issuer of the debt obligation.
Investment policies, management fees and other matters of interest to prospective investors may be found in the Fund's disclosure documents, including its most currently filed financial statements and management reports of fund performance.
Shares of closed-end funds frequently trade at a discount to their net asset value, which may increase risk of loss. The risk may be greater for investors expecting to sell their shares in a relatively short period after completion of the fund's initial public offering.
Units of closed-end funds frequently trade at a discount to their net asset value, which may increase risk of loss. The risk may be greater for investors expecting to sell their units in a relatively short period after completion of the fund's initial public offering.
The products and services provided by PIMCO Canada Corp. may only be available in certain provinces or territories of Canada and only through dealers authorized for that purpose. PIMCO Canada has retained PIMCO LLC as sub-adviser. PIMCO Canada will remain responsible for any loss that arises out of the failure of its sub-adviser.

PIMCO Canada Corp, 199 Bay Street, Suite 2050, Commerce Court Station, P.O. Box 363, Toronto, ON, M5L 1G2, 416-368-3350