Low Duration Monthly Income Fund (Canada)

Fund Code: PMO2512

Updated 19 July 2019

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  • DAILY NAV (USD)
    10.20
  • DAILY YTD RETURN
    -
  • TOTAL NET ASSETS (USD)
    14 MM
    (as of 30-06-2019)
  • TOTAL NET ASSETS (USD)
    14 MM
    (as of 30-06-2019)
  • 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)

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 Barclays U.S. Aggregate 1‑3 Years Index

PRIMARY BENCHMARK DESCRIPTION

Bloomberg Barclays U.S. Aggregate 1-3 Years Index represents securities that are SEC-registered, taxable, and dollar denominated with a maturity between one and three years. The index covers the U.S. investment grade fixed rate bond market, with index components for government and corporate securities, mortgage pass-through securities, and asset-backed securities. It is not possible to invest directly in an unmanaged index.

DISTRIBUTION FREQUENCY

Monthly with Daily Accrual

SERIES INCEPTION

08-02-2019

Managers

Alfred T. Murata

Portfolio Manager, Mortgage Credit

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Daniel J. Ivascyn

Group Chief Investment Officer

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Joshua Anderson

Head of Global ABS Portfolio Management

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Distributions

Historical Prices & Distributions

Latest Distributions ($/Share)1 as of 28-06-2019 (USD) 0.0269
Distribution (YTD) 2 as of 28-06-2019 (USD) 0.1052
Yields & Distributions Footnotes & Disclosures

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 0.60%
Management Expense Ratio (%)4 -

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 31/12/2018. 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.

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Disclosures

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 the current low interest rate environment increases this risk. Current 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. Equities may decline in value due to both real and perceived general market, economic and industry conditions. 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. For a complete description of the risks associated with a particular Fund, please refer to the Fund’s prospectus. 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. 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 the 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.  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.

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.


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.


PIMCO Canada has retained PIMCO LLC as a subadvisor. PIMCO Canada remains responsible for any loss that arises out of the failure of its sub-advisor.