The Asset-Backed Securities (ABS) and Commercial Mortgage–Backed Securities (CMBS) strategies have a high-quality focus and a preference for liquidity premium over credit premium. PIMCO’s approach to ABS is to generate yield by identifying credit risks within ABS securities. Understanding the capital structure is paramount to our CMBS strategy. Given the decreased volatility in CMBS, PIMCO aims to target relative value opportunities through structural and tactical market mispricings.
For more information about this strategy, please contact a PIMCO Investment Professional.