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Monthly Fact Card

Unconstrained Bond Fund (Canada)

Fund Code: PMO009

Updated 10 September 2024

Monthly Fact Card

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  • DAILY NAV (CAD)
    9.54
  • DAILY YTD RETURN
    4.10%
  • TOTAL NET ASSETS (CAD)
    81 MM
    (as of 31-08-2024)
  • TOTAL NET ASSETS (CAD)
    81 MM
    (as of 31-08-2024)
  • CLASS
    Fixed Income
  • Series Inception Date
    30-09-2014
  • CLASS
    Fixed Income
  • Series Inception Date
    30-09-2014

Objective

Seeks maximum long-term return, consistent with preservation of capital and prudent investment management.

Primary Portfolio

The average portfolio duration of this Fund will normally vary from (negative) 3 years to positive 8 years.

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Overview

Fund Overview

An absolute return-oriented bond fund

PIMCO Unconstrained Bond Fund (Canada) takes a flexible approach to capturing global opportunities and managing risk. It strives to actively mitigate downside risk, provide attractive risk-adjusted returns and preserve the diversification benefits of a traditional fixed income portfolio.

Why Invest in This Fund?

Tactically allocated across a global opportunity set

By removing benchmark constraints, the fund gains significant latitude to tap into credit, interest rate, volatility and currency opportunities across global sectors and regions.

Absolute return focus

The fund’s defensive capabilities and wide duration range (-3 to +8 years) help it to achieve positive returns across a wide range of market environments.

A unique portfolio complement

The fund seeks to provide many of the benefits associated with core bond funds – such as capital preservation, liquidity and diversification – while achieving positive absolute returns over full market cycles. Although this strategy may enhance performance, particularly during market declines, it may lag during strong up markets.

Our Expertise

The fund’s expert portfolio management team - Marc Seidner is CIO of Non-traditional Strategies, Mohit Mittal is a managing director and member of PIMCO’s Americas Portfolio Committee - is supported by the full spectrum of PIMCO’s global resources and our four decades of active bond management experience.​​

PRIMARY BENCHMARK

Canadian Overnight Repo Rate (CORRA)

PRIMARY BENCHMARK DESCRIPTION

Canadian Overnight Repo Rate (CORRA) measures the cost of overnight general collateral funding in Canadian dollars using Government of Canada treasury bills and bonds as collateral for repurchase transactions.

DISTRIBUTION FREQUENCY

Quarterly

SERIES INCEPTION

30-09-2014

Managers

Mohit Mittal

CIO Core Strategies

View Profile for Mohit Mittal

Marc P. Seidner

CIO Non-traditional Strategies

View Profile for Marc P. Seidner

Distributions

Historical Prices & Distributions

Latest Distributions ($/Unit)1 as of 28-06-2024 (CAD) 0.1202
Distribution (YTD) 2 as of 28-06-2024 (CAD) 0.2177

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 1.35%
Management Expense Ratio (%)4 1.47%

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.

Prices & Performance

Daily Statistics

All data as of 10-09-2024

NAV $9.54 One Day Return 0.03%
Daily Change $0.00 Daily YTD Return 4.10%

All data as of

All data as of

​Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. The indicated rates of return are the historical annual compounded total returns including changes in unit value and reinvestment of all distributions and does not take into account sales, redemption, distribution or optional charges or income taxes payable by any security holder that would have reduced returns. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. ​​​​​​​

Calendar Year Returns %

All data as of

Growth of $10,000 (hypothetical)

Morningstar Ratings

disclosures

A sales communication that includes a rate of return or a mathematical table illustrating the potential effect of a compound rate of return must contain a statement in substantially the following words: “[The rate of return or mathematical table shown] is used only to illustrate the effects of the compound growth rate and is not intended to reflect future values of [the investment fund or asset allocation service] or returns on investment [in the investment fund or from the use of the asset allocation service].”

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 Fund may be forced to sell a comparatively large portion of its portfolio to meet significant shareholder redemptions for cash, or hold a comparatively large portion of its portfolio in cash due to significant share purchases for cash, in each case when the Fund otherwise would not seek to do so, which may adversely affect performance.​
© 2023 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

Portfolio Composition

All data as of unless otherwise stated

Sector Allocation - Duration in Years

Government Related -3.06
Securitized 3.26
Invest. Grade Credit 0.60
High Yield Credit 0.11
Emerging Markets 0.56
Municipal/Other 0.00
Net Other Short Duration Instruments 0.30

Duration in Years

Effective Duration (yrs) 1.78

disclosures

Duration is a measure of the fund's price sensitivity to changes in interest rates expressed in years.

Portfolio structure is subject to change without notice and may not be representative of current or future allocations.

Effective duration is the duration for a bond with an embedded option when the value is calculated to include the expected change in cash flow caused by the option as interest rates change.

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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.

Absolute return portfolios may not fully participate in strong positive market rallies. 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. Mortgage- and asset-backed securities may be sensitive to changes in interest rates, subject to early repayment risk, and while generally supported by a government, government-agency or private guarantor, there is no assurance that the guarantor will meet its obligations. 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. 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. 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. Currency rates may fluctuate significantly over short periods of time and may reduce the returns of a 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