Unconstrained Bond Fund

ETL0404AU

Updated 20 June 2018

Objective

To seek maximum long-term returns, in a manner consistent with the preservation of capital and prudent investment management.

Investments Held

Predominantly invests indirectly (via other funds) in fixed interest securities issued by governments or their agencies and corporates.

Overview

Fund Overview

Look beyond traditional benchmarks

PIMCO Unconstrained Bond Fund takes a flexible approach to capturing global opportunities and managing risk. It strives to actively mitigate downside risk, provide attractive risk-adjusted returns and preserve the diversification benefits of a traditional fixed income portfolio.

Why Invest In This Fund

Tactically allocated across a global opportunity set

By removing benchmark constraints, the Fund gains significant latitude to tap into credit, interest rate, volatility and currency opportunities across global sectors and regions.

Absolute return focus

The Fund’s defensive capabilities and wide duration range (-3 to +8 years) help it to achieve positive returns across a wide range of market environments, including varied interest rate environments

A unique portfolio complement

The Fund seeks to provide many of the benefits associated with core bond funds – such as capital preservation, liquidity and diversification – while achieving positive absolute returns over full market cycles. The Fund is primarily designed to be a complement to core bond funds.

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 team poised to pick best ideas from across the globe

The Fund harnesses the work of a unique team specifically placed to pick the best ideas that PIMCO has to offer from across the global bond universe.

PRIMARY BENCHMARK

Bloomberg AusBond Bank Bills Index

PRIMARY BENCHMARK DESCRIPTION

The Bloomberg AusBond Bank Bills Index is an unmanaged index representative of the total return performance of Australian money market securities. It is not possible to invest in an unmanaged index.

DISTRIBUTION FREQUENCY

Quarterly

SHARE CLASS INCEPTION

18/03/2014

APIR Code

ETL0404AU

mFund Code

PMF06

Currency

AUD

RELATED

Managers

Marc P. Seidner

CIO Non-traditional Strategies

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Mohsen Fahmi

Portfolio Manager, Global Fixed Income

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Daniel J. Ivascyn

Group Chief Investment Officer

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Yields & Distributions

Historical Prices & Distributions

Latest Dividend Distribution ($ Share)1 as of 29/03/2018 $0.00311
Dividend Distribution (FYTD) as of 29/03/2018 $0.01614
Yields & Distributions Footnotes & Disclosures

disclosures

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

Fees & Expenses

Total Annual Management Costs %2 0.95%
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 2.61
Emerging Markets 0.19
Australia/NZ 0.09
Europe - Non-EMU 0.00
Other 0.00
Europe - EMU -0.29
United Kingdom -0.31
Japan -0.51

Credit Quality Exposure -
Market Value %

AAA 51.53
AA 5.17
A 12.36
BBB 9.15
Sub Investment Grade 21.79

Sector Allocation - Duration in Years

Government -0.38
Semi-Gov 0.03
Agency 0.01
IG Corporates 0.50
High Yield 0.08
Securitised 1.42
Emerging Markets 0.43
Cash Equiv & Other -0.32

Duration %

0-1 yrs -0.40
1-3 yrs 0.26
3-5 yrs 2.27
5-7 yrs 1.52
7-8 yrs -0.05
8-10 yrs -0.99
10+ yrs -0.83
Effective Duration (yrs) 1.77

Currency Exposure %

Australia/NZ 99.49
Emerging Markets 3.58
Europe - EMU -2.49
Other -1.57
North America 1.52
Japan -0.63
United Kingdom 0.12
Europe - Non-EMU -0.01

Risk Characteristics
(Trailing 3 Years)

Standard Deviation3 2.98
Sharpe Ratio4 0.93