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Monthly Fact Card

Low Duration Monthly Income Fund (Canada)

Fund Code: PMO2012

Updated 17 September 2024

Monthly Fact Card

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  • DAILY NAV (USD)
    9.69
  • DAILY YTD RETURN
    5.65%
  • TOTAL NET ASSETS (USD)
    411 MM
    (as of 31-08-2024)
  • TOTAL NET ASSETS (USD)
    411 MM
    (as of 31-08-2024)
  • CLASS
    Fixed Income
  • Series Inception Date
    08-02-2019
  • CLASS
    Fixed Income
  • Series Inception Date
    08-02-2019

Objective

The investment objective of the Fund is to maximize current income consistent with preservation of capital while limiting exposure to changes in interest rates. Long-term capital appreciation is a secondary objective.

Primary Portfolio

Global opportunity set of fixed income securities (duration varies from 0 to 3 years)

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Overview

Fund Overview

Generating income with low interest rate exposure

Designed for investors who need steady income with low interest rate exposure, the fund takes a broad-based approach to investing in income-generating bonds. It employs PIMCO’s vast analytical capabilities and sector expertise to help temper the risks of income investing.

Why Invest In This Fund

Pursues income across global fixed income sectors

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

Total return approach to generating income

While generating attractive current income is a primary goal, the fund also seeks long-term capital appreciation and compelling risk-adjusted returns with a low duration level. The fund also aims to preserve capital, maintain quality and lower interest rate risk.

Ability to be opportunistic

The fund can tactically shift portfolio weights, moving to wherever attractive yields can be generated with low interest rate sensitivity in an increasingly complex and volatile investment environment. This flexibility helps the fund to nimbly capture opportunities as economic and market conditions change.

Our Expertise

The fund is managed by Dan Ivascyn, Managing Director and Group CIO, Alfred Murata, Managing Director and Portfolio Manager, and Josh Anderson, Managing Director and Portfolio Manager. The team draws on PIMCO’s time-tested investment process: our rigorously developed global macro outlook, bottom-up credit analysis and research teams’ deep reservoir of specialized investment expertise.

PRIMARY BENCHMARK

Bloomberg U.S. Aggregate 1‑3 Years Index

PRIMARY BENCHMARK DESCRIPTION

The Bloomberg U.S. Aggregate 1-3 Years Index is a component of the Bloomberg U.S. Aggregate Index representing securities with maturities of one to three years.

DISTRIBUTION FREQUENCY

Monthly with Daily Accrual

SERIES INCEPTION

08-02-2019

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

Portfolio Manager, Asset-Backed Securities

View Profile for Joshua Anderson

Distributions

Historical Prices & Distributions

Latest Distributions ($/Unit)1 as of 30-08-2024 (USD) 0.0464
Distribution (YTD) 2 as of 30-08-2024 (USD) 0.3696

disclosures

1Data does not include special cash dividends.
2Data is based on distributions since the most recent calendar year end and does not include special cash dividends.

Fees & Expenses

Management Fee (%)3 1.25%
Management Expense Ratio (%)4 1.39%

disclosures

3The Annual Management Fee is used to pay for investment management services and general administration of the fund, this fee does not include taxes.
4As of 06/30/2024. 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.

Documents

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Disclosures

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.

No offering is being made by this material. Interested investors should obtain a copy of the prospectus, which is available on pimco.ca or from your Financial Advisor.

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. Currency rates may fluctuate significantly over short periods of time and may reduce the returns of a portfolio. 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. 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. Commodities contain heightened risk, including market, political, regulatory and natural conditions, and may not be suitable for all investors. Equities may decline in value due to both real and perceived general market, economic and industry conditions. Investing in distressed companies (both debt and equity) is speculative and may be subject to greater levels of credit, issuer and liquidity risks, and the repayment of default obligations contains significant uncertainties; such companies may be engaged in restructurings or bankruptcy proceedings. Convertible securities may be called before intended, which may have an adverse effect on investment objectives. Entering into short sales includes the potential for loss of more money than the actual cost of the investment, and the risk that the third party to the short sale may fail to honor its contract terms, causing a loss to the portfolio. 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. The Fund is non-diversified, which means that it may concentrate its assets in a smaller number of issuers than a diversified fund.

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.


The Funds offer different series, which are subject to different fees and expenses (which may affect performance), having different minimum investment requirements and are entitled to different services


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