Income Fund

ETL0458AU

Updated 13 December 2018

Objective

To seek high current income, consistent with prudent investment management. Long-term capital appreciation is a secondary objective.

Investments Held

Primarily invests in higher income-providing fixed income assets from across the globe, which in PIMCO’s view also demonstrate capital preservation attributes.

Overview

Fund Overview

Targets high, consistent income

Designed for investors who need steady income, the Fund takes a broad-based approach to investing in income-generating bonds. It employs our vast analytical capabilities and sector expertise to help temper the risks of income investing.

Why Invest In This Fund

Pursues income across global fixed income sectors

The global economic landscape is constantly changing, causing different bond sectors to go in and out of favour. The Fund’s multi-sector approach allows it to seek out the best income-generating ideas in any market climate, targeting multiple sources of income from a global opportunity set.

Total return approach to maximising income potential

While maximising current income is its primary goal, the Fund also seeks long-term capital appreciation and attractive risk-adjusted returns. This means that while the Fund is going to seek out the highest possible income for investors, it aims to not sacrifice quality or principal.

Ability to be opportunistic

The Fund can tactically shift portfolio weightings, moving to wherever we believe attractive yields can be generated in this increasingly complex and volatile investment environment. This flexibility helps the Fund to nimbly capture opportunities as economic and market conditions change.

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

Harnessing the best bottom-up and top-down insights

The Fund’s portfolio management team ensures that both bottom-up insights from each of PIMCO’s specialty desks and top-down insights from PIMCO’s macroeconomic process drive portfolio positioning for the Fund.

PRIMARY BENCHMARK

Bloomberg Barclays Global Aggregate Index hedged into AUD

PRIMARY BENCHMARK DESCRIPTION

The Bloomberg Barclays Global Aggregate 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

Monthly

SHARE CLASS INCEPTION

28/10/2015

APIR Code

ETL0458AU

mFund Code

PMF08

Currency

AUD

RELATED

Managers

Daniel J. Ivascyn

Group Chief Investment Officer

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Alfred T. Murata

Portfolio Manager, Mortgage Credit

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Joshua Anderson

Head of Global ABS Portfolio Management

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Yields & Distributions

Historical Prices & Distributions

Latest Dividend Distribution ($ Share)1 as of 30/11/2018 $0.00333
Dividend Distribution (FYTD) as of 30/11/2018 $0.01662
Yields & Distributions Footnotes & Disclosures

disclosures

1Distribution is paid monthly.

Fees & Expenses

Total Annual Management Costs %2 0.78%
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

Duration %

0-1 yrs 0.99
1-3 yrs 11.80
3-5 yrs 84.84
5-7 yrs 56.55
7-8 yrs 21.61
8-10 yrs -64.99
10+ yrs -10.80
Effective Duration (yrs) 3.15

Sector Allocation - Duration in Years

Government -0.05
Semi-Gov 0.01
Agency 0.00
IG Corporates 0.68
High Yield 0.29
Securitised 1.63
Emerging Markets 0.57
Cash Equiv & Other 0.03

Currency Exposure %

Australia/NZ 96.12
Emerging Markets 7.36
North America -2.23
Japan -1.21
United Kingdom -0.04
Europe - EMU -0.04
Europe - Non-EMU 0.04
Other 0.02

Credit Quality Exposure -
Market Value %

AAA 50.27
AA 3.68
A 6.95
BBB 13.56