Global Credit Fund

ETL0114AU

Updated 21 June 2018

Objective

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

Investments Held

A diversified portfolio of predominantly investment grade bonds including corporate, mortgage and asset-backed securities.

Overview

Fund Overview

Seeks attractive returns from high quality corporate bonds

Combining PIMCO’s forward-looking macroeconomic outlook and extensive bottom-up credit research, the fund helps investors take advantage of opportunities in higher-quality corporate bonds.

Why Invest In This Fund

Attractive total return potential

The Fund aims to provide investors with greater income potential relative to government bonds and cash, as well as more income and less volatility in returns when compared to equity.

Flexibility to enhance returns

The Fund has the ability to broadly diversify across industries, issuers and regions of the corporate bond sector and can seek to add value through investments in high quality government bonds, mortgages and foreign bonds.

Extensive credit resources and research

Employing a disciplined approach to credit research, the Fund accesses PIMCO’s team of more than 50 bottom-up credit investment professionals and utilises top-down, bottom-up and valuation screens to identify what we believe are the most attractive opportunities in global credit markets.

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

Supported by PIMCO’s robust credit resources

The Fund not only accesses PIMCO’s world class team of credit investment professionals across the globe, but also a team of over 50 credit analysts, sector specialists with wide-ranging expertise who independently analyse every credit security held.

PRIMARY BENCHMARK

Bloomberg Barclays Global Aggregate ex Treasury Index hedged into AUD

PRIMARY BENCHMARK DESCRIPTION

Bloomberg Barclays Global Aggregate Ex Treasury Index hedged into AUD is an unmanaged market index representative of the total return performance of ex Treasury 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

04/12/2001

APIR Code

ETL0114AU

Currency

AUD

Managers

Robert Mead

Co-head of Asia-Pacific Portfolio Management

View Profile

Mark R. Kiesel

CIO Global Credit

View Profile

Yields & Distributions

Historical Prices & Distributions

Latest Dividend Distribution ($ Share)1 as of 29/03/2018 $0.49165
Dividend Distribution (FYTD) as of 29/03/2018 $10.44316
Yields & Distributions Footnotes & Disclosures

disclosures

1Distribution is paid quarterly in March, June, September and December.

Fees & Expenses

Total Annual Management Costs %2 0.56%
Fees & Expenses Footnotes & Disclosures

disclosures

2Management costs 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).

Performance

  • Average Annual Returns
  • Cumulative Returns

All data as of

  • Month End
  • Quarter End

All data as of

  • Month End
  • Quarter End
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

  • Morningstar Ratings
  • Lipper Rankings
Performance Footnotes & Disclosures

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 3.63
Europe - EMU 0.87
Europe - Non-EMU 0.20
Australia/NZ 0.17
Emerging Markets 0.04
Other 0.00
United Kingdom 0.00
Japan -0.32

Credit Quality Exposure -
Market Value %

AAA 44.30
AA 2.17
A 13.98
BBB 33.40
Sub Investment Grade 6.15

Currency Exposure %

Australia/NZ 99.25
Emerging Markets 2.39
Other -0.98
North America -0.86
Europe - EMU 0.23
United Kingdom -0.06
Europe - Non-EMU 0.03
Japan 0.01

Top Industry Sectors Market Value %

Banks 27.20
Wirelines 3.51
Pipelines 3.34
Electric Utility 3.18
Independent E&P 3.01

Duration %

0-1 yrs 2.85
1-3 yrs 1.92
3-5 yrs 45.74
5-7 yrs 33.98
7-8 yrs 8.55
8-10 yrs -3.05
10+ yrs 10.00
Effective Duration (yrs) 4.58

Sector Allocation - Duration in Years

Government 0.16
Semi-Gov 0.11
Agency 0.02
IG Corporates 2.39