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PIMCO ups EMD limit on $9bn global bond fund

PIMCO ups EMD limit on $9bn global bond fund

PIMCO has increased the ability of the Dublin-mirror of its flagship Total Return Bond fund to access emerging market debt, the US asset manager has revealed.

The changes apply to the PIMCO GIS Total Return Bond fund, which has $9.2 billion in assets.

In a notice to shareholders, PIMCO said it had increased the fund’s ability to invest in emerging market debt from 10% at present to 15%.

This came into effect on 29 May with the company stating its desire to bring the fund more in line with the emerging markets exposure of other funds managed within the PIMCO group.

This fund is the smaller Ucits-compliant mirror of the $110 billion PIMCO Total Return Bond previously run by Bill Gross.

Both the US and Dublin-domiciled versions of the fund are managed by the team of Citywire AAA-rated managers Scott Mather and Mark Kiesel, alongside Citywire A-rated Mihir Worah.

The April 2015 factsheet reveals an 8% allocation to emerging market debt in the fund at for that reporting period.

PIMCO launched the Dublin-domiciled fund in October 2005, which was overseen by Gross since its inception. The new management team took over when Gross stepped down in September 2014.

The PIMCO GIS Total Return Bond fund has returned 5% in US dollar terms over the three years to the end of May 2015. This is while its Citywire-assigned benchmark, the Barclays U.S. Aggregate Bond TR, rose 6.79% over the same period.

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