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Fund Fact Sheet Quarterly Investment Report Product Disclosure Statement (AU)

Global Bond Fund

ETL0018AU

Updated 04 December 2023

Fund Fact Sheet Quarterly Investment Report Product Disclosure Statement (AU)

Objective

To achieve maximum total return by investing in global fixed interest securities, and to seek to preserve capital through prudent investment management.

Investments Held

Predominantly invests in government, corporate, mortgage and other global fixed interest securities. The Fund invests in investment grade securities, but may also hold non-investment grade and emerging market securities.

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Overview

Fund Overview

Access high-quality fixed income worldwide

By investing in high-quality, developed countries around the world, the Fund provides diverse exposure to multiple economies, interest rates and yield curves, which may enhance return potential, reduce overall portfolio volatility and help mitigate the threat of rising interest rates.

Why Invest In This Fund

A global opportunity set

Broadly diversified, the Fund strives to capture attractive risk-adjusted returns across the global bond markets, which can help to both mitigate volatility and hedge against risks in other asset classes, such as equities. Diversification does not guarantee a profit or protect against loss.

High-quality emphasis

Guided by PIMCO’s global perspective and on-the-ground insights into country fundamentals, the Fund targets a portfolio of primarily investment grade bonds from around the developed world, making this an excellent building block for core bond investments.

Time-tested process

Supported by a deep international presence with over 50 global portfolio managers located around the world, the fund capitalises on PIMCO’s thought leadership and time-tested investment process, which guide portfolio construction via our top-down macroeconomic outlook and rigorous bottom-up credit analysis.

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.

Our Expertise

A 24-hour team to cover the global investment universe

With dedicated sector and regional specialists in 11 offices around the world, PIMCO’s depth and reach allow us to efficiently and effectively access all global fixed interest markets.

PRIMARY BENCHMARK

Bloomberg Global Aggregate Bond Index hedged into AUD

PRIMARY BENCHMARK DESCRIPTION

The Bloomberg Global Aggregate Bond Index hedged into AUD is an unmanaged market index representative of the total return performance of major world bond markets on a AUD hedged basis. It is not possible to invest in an unmanaged index.

DISTRIBUTION FREQUENCY

Quarterly

SHARE CLASS INCEPTION

28/04/2004

APIR Code

ETL0018AU

mFund Code

PMF03

Currency

AUD

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Managers

Andrew Balls

CIO Global Fixed Income

View Profile for Andrew Balls

Sachin Gupta

Portfolio Manager

View Profile for Sachin Gupta

Lorenzo Pagani

Portfolio Manager

View Profile for Lorenzo Pagani

Yields & Distributions

Historical Prices & Distributions

Latest Dividend Distribution ($ Share)1 as of 29/09/2023 $0.00269
Dividend Distribution (FYTD) as of 29/09/2023 $0.00269

disclosures

1The Fund generally distributes income quarterly at the end of March, June, September and December.

Fees & Expenses

Total Annual Management Fee %2 0.49%

disclosures

2Management fees quoted are inclusive of Goods and Services Tax (GST) and net of any Reduced Input Tax Credits (RITC) at the prescribed rate, which is currently either 55% or 75% (depending on the nature of the fee or expense).
In addition to the Management Fee there may be other fees and costs associated with an investment in this fund. For a detailed explanation on fees and costs please refer to the Product Disclosure Statement

Performance

All data as of

All data as of

Click here to view the Price and Performance for all Australia

Past performance is not a reliable indicator of future results. Fund performance is quoted net of fees and expenses and assumes the reinvestment of all distributions but does not take into account personal income tax.

Fiscal Year Returns %

All data as of

Growth of $10,000 (hypothetical)

Morningstar and Lipper

disclosures

Performance figures presented reflect the total return performance after fees and reflect changes in share price and reinvestment of dividend and capital gain distributions on the payable date. All periods longer than one year are annualized.
Monthly YTD return is from the most recent calendar year end.
Growth of $10,000 is calculated at NAV and assumes that all distributions were reinvested. It does not take into account fees or the effect of taxes. Results are not indicative of future performance.

Portfolio Composition

All data as of unless otherwise stated

Region - Duration in Years

North America 2.73
Europe - EMU 0.90
Australia/NZ 0.58
United Kingdom 0.52
Europe - Non-EMU 0.32
Other 0.26
Japan 0.18
Emerging Markets -0.04

Sector Allocation - Duration in Years

Government 1.70
Semi-Gov 0.04
Agency 0.03
IG Corporates 0.36
High Yield 0.01
Securitized 2.70
Emerging Markets 0.52
Cash Equiv & Other 0.09

Risk Characteristics
(Trailing 3 Years)

Standard Deviation3 4.99
Sharpe Ratio4 -1.28
Information Ratio5 0.33
Tracking Error6 1.07

Credit Quality Exposure -
Market Value %

AAA 30.25
AA 35.52
A 9.82
BBB 19.53
Sub Investment Grade 4.88

Currency Exposure %

Australia/NZ 100.23
Emerging Markets 2.37
Other -1.98
North America -1.54
Japan 1.39
Europe - EMU -0.93
Europe - Non-EMU 0.47
United Kingdom -0.02

Duration %

0-1 yrs 2.16
1-3 yrs -6.19
3-5 yrs 19.64
5-7 yrs 51.52
7-8 yrs 8.26
8-10 yrs 13.49
10+ yrs 11.13
Effective Duration (yrs) 5.45

disclosures

3Standard deviation is a statistical measure of dispersion about an average which, for a mutual fund, depicts how widely the returns varied over a certain period of time. The greater the dispersion, the greater the risk.
4The Sharpe Ratio measures the risk-adjusted performance. The risk-free rate is subtracted from the rate of return for a portfolio and the result is divided by the standard deviation of the portfolio returns.
5Information ratio is a ratio of portfolio returns above the returns of a benchmark to the volatility of those returns.
6Tracking error, a measure of risk, is defined as the standard deviation of the portfolio's excess return vs. the benchmark expressed in percent.
Portfolio information in the charts is based on the fund's net assets. These percentages may differ from those used for the fund's compliance calculations, including the fund's prospectus, regulatory, and other investment limitations and policies, which may be based on total assets of the fund or other measurements, may include or exclude various categories of investments from those covered in the portfolio allocation categories shown in this report, and may be based on different classifications and measurements of the fund’s investments and other criteria.
References to specific sectors, securities or issuers are for illustrative purposes only. All holdings are subject to change daily. All share classes have the same portfolio but different expenses.

Documents

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Disclosures

Investors should consider the investment objectives, risks, charges and expenses of the funds carefully before investing. Before making an investment decision investors should consider whether the information contained herein is appropriate in light of their particular investment needs, objectives and financial circumstances and any relevant offer document. Investors should obtain relevant and specific professional advice before making any investment decision. The information contained herein does not take into account the investment objectives, financial situation or needs of any particular investor.
A word about risk:

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.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.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. 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. 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. Diversification does not ensure against loss. 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. No part of this material may be reproduced in any form, or referred to in any other publication, without express written permission.