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

Income Fund

ETL0458AU

Updated 23 April 2024

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

Objective

The primary investment objective of the Fund is 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.

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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 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

Monthly

SHARE CLASS INCEPTION

28/10/2015

APIR Code

ETL0458AU

mFund Code

PMF08

Currency

AUD

RELATED

Income Strategy Update: Attractive Yields, Resilient Returns

PIMCO Income Strategy: Uncovering Opportunities for Investors Around the Globe

Managers

Daniel J. Ivascyn

Group Chief Investment Officer

View Profile for Daniel J. Ivascyn

Alfred T. Murata

Portfolio Manager, Mortgage Credit

View Profile for Alfred T. Murata

Joshua Anderson

Portfolio Manager, Asset-Backed Securities

View Profile for Joshua Anderson

Yields & Distributions

Historical Prices & Distributions

Latest Dividend Distribution ($ Share)1 as of 28/03/2024 $0.00479
Dividend Distribution (FYTD) as of 28/03/2024 $0.04314

disclosures

1Distribution is paid monthly.

Fees & Expenses

Total Annual Management Fee %2 0.78%

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

Duration %

0-1 yrs 2.91
1-3 yrs 29.52
3-5 yrs 36.38
5-7 yrs 38.88
7-8 yrs -15.26
8-10 yrs 4.20
10+ yrs 3.37
Effective Duration (yrs) 3.43

Sector Allocation - Duration in Years

Government -0.90
Semi-Gov -0.01
Agency 0.00
IG Corporates 0.77
High Yield 0.10
Securitized 3.06
Emerging Markets 0.35
Cash Equiv & Other 0.07

Currency Exposure %

Australia/NZ 100.01
Emerging Markets 6.69
North America -6.35
Other -3.67
Japan 3.22
Europe - EMU 0.06
United Kingdom 0.03
Europe - Non-EMU 0.00

Credit Quality Exposure -
Market Value %

AAA 67.93
AA 4.57
A 6.60
BBB 8.42
Sub Investment Grade 12.48

Region - Duration in Years

North America 3.31
Emerging Markets 0.17
Australia/NZ 0.14
United Kingdom 0.08
Europe - EMU 0.08
Europe - Non-EMU 0.00
Other -0.01
Japan -0.34

disclosures

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 certain risks including the risk that fixed income securities will decline in value because of changes in interest rates; the risk that fund shares could trade at prices other than the net asset value; and the risk that the manager's investment decisions might not produce the desired results. Investments may be worth more or less than the original cost when redeemed. 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. 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. Mortgage and asset-backed securities may be sensitive to changes in interest rates, subject to early repayment risk, and their value may fluctuate in response to the market’s perception of issuer creditworthiness; while generally supported by some form of government or private guarantee there is no assurance that private guarantors will meet their obligations. 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. 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.