GIS Asia High Yield Bond Fund

ISIN: IE00BGSXQS26

Updated 01 March 2021

  • The Fund may use or invest in financial derivatives.

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  • DAILY NAV (USD)
    10.34
  • DAILY YTD RETURN
    0.17%
  • TOTAL NET ASSETS (USD)
    1,368 MM
    (as of 28/02/2021)
  • TOTAL NET ASSETS (USD)
    1,368 MM
    (as of 28/02/2021)
  • CLASS
    Fixed Income
  • CLASS INCEPTION DATE
    14/02/2019
  • CLASS
    Fixed Income
  • CLASS INCEPTION DATE
    14/02/2019

Objective

The investment objective of the Fund is to seek maximum total return consistent with prudent investment management.

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Overview

Fund Description

The Asia High Yield Bond Fund is an actively managed portfolio that invests primarily in Asia high yield bonds. The fund is diversified broadly across industries, issuers, and countries in Asia on the basis of PIMCO’s top-down and bottom-up processes.

Investor Benefits

This fund offers compelling diversification benefits and the opportunity to gain exposure to different sectors of Asian markets.

The Fund Advantage

The fund employs PIMCO's fundamental research process, including top-down economic views, bottom-up security selection and extensive global resources.

BENCHMARK

J.P. Morgan JACI Non‑Investment Grade Index

BENCHMARK DESCRIPTION

The J.P. Morgan JACI Non-Investment Grade Index comprises fixed rate US Dollar-denominated high yield bonds issued by Asia sovereigns, quasi-sovereigns, banks and corporates. The existing JACI Non-IG contains both fixed and floating rate bonds issued by Asia-domiciled entities having a nominal outstanding of at least US$150 million and more than one year to maturity.

DIVIDEND FREQUENCY

SHARE CLASS INCEPTION

14/02/2019

OLDEST SHARE CLASS

OLDEST SHARE CLASS INCEPTION

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BASE CURRENCY

ISIN

IE00BGSXQS26

TICKER

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SEDOL

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SHARE CLASS CURRENCY

CUSIP

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VALOREN

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WKN

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VAG Compliance

Traspasable

No

disclosures

This share class aims to pay dividends at the frequency stated above. Dividend payout is not guaranteed.

RELATED

Managers

Stephen Chang

Portfolio Manager, Asia

View Profile for Stephen Chang

Abhijeet Neogy

Portfolio Manager

View Profile for Abhijeet Neogy

Mohit Mittal

Portfolio Manager, Liability Driven Investment and Credit

View Profile for Mohit Mittal

Yields & Distributions

Historical Prices & Distributions

Estimated Gross Yield to Maturity1 as of 31/01/2021 6.20%
Annualised Distribution Yield2 as of 31/01/2021 4.12%
Average Payout Yield Since Inception 3,4 as of 31/01/2021 4.67%
Current Yield5 as of 31/01/2021 5.55%
Underlying Portfolio Yield6 as of 31/01/2021 4.00%
Average Annualised Distribution Yield as of 31/01/2021 4.75%
Latest Dividend Distribution3,7 as of 25/02/2021 (USD) 0.04173
Dividend Distribution (YTD) 3,8 as of 25/02/2021 (USD) 0.07726
Average Distribution Since Inception (per annum) 3,9 as of 28/01/2021 (USD) 0.47264

Composition of Historical Dividend Distribution

Ex-Dividend Date Dividend Per Share ({{ overviewDataJSON.nav_currency }}) % of Distribution from Net Distributable Income % of Distribution from Capital
25/02/2021 0.041730 - -
28/01/2021 0.035527 91.74% 8.26%
30/12/2020 0.038845 96.71% 3.29%
27/11/2020 0.039557 100.00% 0.00%
29/10/2020 0.038450 100.00% 0.00%
29/09/2020 0.045280 100.00% 0.00%
27/08/2020 0.036951 100.00% 0.00%
30/07/2020 0.041921 100.00% 0.00%
29/06/2020 0.042821 100.00% 0.00%
28/05/2020 0.035814 100.00% 0.00%
29/04/2020 0.038990 100.00% 0.00%
30/03/2020 0.040165 100.00% 0.00%

disclosures

1PIMCO calculates a Fund's Estimated Yield to Maturity by averaging the yield to maturity of each security held in the Fund on a market weighted basis. PIMCO pulls each security's yield to maturity from PIMCO's Portfolio Analytics database. When not available in the PIMCO's Portfolio Analytics database, PIMCO pulls the security's yield to maturity from Bloomberg. When not available in either database, PIMCO will assign a yield to maturity for that security from a PIMCO matrix based on prior data. Yields reported gross of fees, the deduction of which will reduce the yield.
2For funds with monthly distribution, the annualized distribution yields are annualised on a 12 month calendar year [Annualised distribution yield= (Dividend Rate * 12) / NAV on ex-dividend day]. Dividend is not guaranteed. A positive distribution yield does not imply a positive return.
3Dividend is not guaranteed. Past distributions are not necessarily indicative of future trends, which may be lower. A positive distribution yield does not imply a positive return. Distribution payments of the Fund where applicable, may at the sole discretion of the Fund, be made out of either income and/ or capital of the Fund. In the case of the Fund, the Fund may at its discretion pay dividends out of capital which may result in an immediate reduction of the Fund’s NAV per share. In the case of Income II Shares, the Fund may at its discretion pay dividends out of capital as well as take into account the yield differential arising from share class currency hedging (which constitutes a distribution from capital). The management and other fees payable by the Income II Shares may also be charged to the capital of the Income II Shares, resulting in an increase in distributable income available for the payment of dividends and therefore, the Income II Shares may effectively pay dividends out of capital. This may result in an immediate reduction of the NAV per share for the Income II Shares.
4For share classes that have been incepted for less than one year, the average payout yield is calculated as the cumulation of payout yields since inception [sum of non-annualised distribution yield since inception; non –annualized yield for each period = Dividend Rate / NAV on ex-dividend day]. For dividend-paying share classes that have been incepted for more than one year, the average payout yield is calculated as average annualized dividend yield since inception [sum of annualized dividend yield since inception/ No. of periods since inception].
5Current yield is a security’s annual income (interest or dividends) divided by its current price. The estimate of current yield is based on PIMCO's best judgment for the securities in the portfolio on the date shown. PIMCO makes no representation on the accuracy or the methodology used. Yields reported gross of fees, the deduction of which will reduce the yield.
6The underlying portfolio yield is calculated as estimated current yield net of unified fees for the share class [Current Yield – Unified Fees]. Current yield is a security’s annual income (interest or dividends) divided by its current price. The underlying portfolio yield is based on PIMCO's best judgment for the securities in the portfolio on the date shown. PIMCO makes no representation on the accuracy or the methodology used. Yields reported net of fees.
7Data does not include special cash dividends.
8Data is based on distributions since the most recent calendar year end and does not include special cash dividends.
9For share classes that have been incepted for less than 1 year, the average distribution since inception is calculated on a cumulative basis for the year[sum of dividend amount since inception]. For share classes that have been incepted more than 1 year but less than 10 years, the average distribution since inception is calculated as the average distribution amount since inception [sum of dividend amount since inception/ No. of periods since inception].For share classes that have incepted for more than 10 years, the average distribution is disclosed for the past 10 years. [sum of dividend amount for the past 10 years/ No. of periods for the past 10 years].

Fees & Expenses

Unified Fee10 1.55%

disclosures

10Unified management fee is a single fixed Management Fee out of which the fees of the Investment Advisers, the Administrator and Custodian shall be paid, and certain other expenses including the fees of Paying Agents (and other local representatives) in jurisdictions where the Funds are registered.

Prices & Performance

Daily Statistics

All data as of 01/03/2021

NAV (USD) 10.34 One Day Return 0.00%
Daily Change (USD) 0.00 Daily YTD Return 0.17%
Daily YTD Return (net of 5% Preliminary Charge) -4.87%

All data as of

All data as of

Performance quoted represents past performance and is not a guarantee or a reliable indicator of future results. Investment return and the principal value of an investment will fluctuate. Shares may be worth more or less than original cost when redeemed. Current performance may be lower or higher than average annual returns shown.

Calendar Year Returns %

All data as of

Growth of $10,000 (hypothetical)

Morningstar Ratings

disclosures

Past performance is not indicative of future performance and no guarantee is being made that similar returns will be achieved in the future. All periods longer than one year are annualised. Performance shown is on a NAV-to-NAV basis in the denominated currency and are net of fees and other expenses and on the assumption that dividends are reinvested, as applicable. Where stated, performance of the Fund is also shown taking into account the maximum preliminary charge of 5%. A preliminary charge of up to 5% may or may not be deducted from the subscription amount depending on the distributor from whom you had purchased shares, as such this may not represent actual performance returns. Investment returns denominated in non-local currency may be exposed to exchange rate fluctuations.
Where no past performance is shown, there was insufficient data in that year to provide performance.
Daily YTD return is from the most recent calendar year end.
Growth of $10,000 is calculated at NAV and assumes that all dividend and capital gain distributions were reinvested. It also assumes that $10,000 is invested into the fund, after deducting preliminary charges (if any). It does not take into account the effect of taxes. Results are not indicative of future performance.
A rating is not a recommendation to buy, sell or hold a fund. © 2020 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

Portfolio Composition

All data as of unless otherwise stated

Maturity %

0-1 yrs 16.45
1-3 yrs 37.23
3-5 yrs 27.74
5-10 yrs 18.41
10-20 yrs 0.47
20+ yrs -0.29
Effective Maturity (yrs) 3.11

Sector Allocation
Market Value %

North America 8.36
EMU -0.29
UK 0.28
Europe Non-EMU 0.00
Japan 0.00
Asia Pac ex-Japan 0.00
EM 78.96
Other 0.00
Net Other Short Duration Instruments11 12.69

Top 10 Country Exposure (MV%)

China 48.67
India 11.75
Ireland 9.45
Indonesia 7.63
Macao 5.40
Hong Kong 3.31
Philippines 2.89
Sri Lanka 2.70
United Kingdom 1.87
Malaysia 1.86

Duration %

0-1 yrs 2.50
1-3 yrs 32.46
3-5 yrs 44.73
5-7 yrs 7.79
7-8 yrs 5.43
8-10 yrs 7.82
10+ yrs -0.73
Effective Duration (yrs) 2.53

Top Industry Sectors
Market Value %

Real Estate 40.60
Electric Utility 7.51
Metals & Mining 5.69
Gaming 5.40
Diversified Manufacturing 4.31
Financial Other 2.78
Banks 2.56
Automotive 1.74
Metals & Mining: Coal 1.58
Insurance Life 1.37

disclosures

11Net Other Short Duration Instruments includes securities and other instruments (except instruments tied to emerging markets by country of risk) with an effective duration less than one year and rated investment grade or higher or, if unrated, determined by PIMCO to be of comparable quality, commingled liquidity funds, uninvested cash, interest receivables, net unsettled trades, broker money, short duration derivatives (for example Eurodollar futures) and derivatives offsets. With respect to certain categories of short duration securities, the Adviser reserves the discretion to require a minimum credit rating higher than investment grade for inclusion in this category. Derivatives Offsets includes offsets associated with investments in futures, swaps and other derivatives. Such offsets may be taken at the notional value of the derivative position which in certain instances may exceed the actual amount owed on such positions.

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Disclosures

Source: PIMCO, index provider for benchmark data.

A rating is not a recommendation to buy, sell or hold a fund. Past performance is not an indicator of future results.

Investment involves risk including possible loss of the principal amount invested. The Fund may use or invest in financial derivatives. PIMCO Funds: Global Investors Series plc is an umbrella type open-ended investment company with variable capital and is incorporated with limited liability under the laws of Ireland with registered number 276928. PIMCO Funds: Global Investors Series plc has appointed PIMCO Asia Ptd Ltd as the Singapore Representative. Investors should consider the investment objectives, risks, charges and expenses of the funds carefully before investing. This and other information is contained in the Fund’s Singapore Prospectus which is available and can be obtained from our website www.pimco.com.sg or by contacting the Singapore Representative or a distributor of the Fund. Prospective investors should read the Fund's Singapore Prospectus before deciding whether to subscribe for or purchase shares in any of the Funds. Investors may also wish to seek advice from a financial adviser before making a commitment to invest and in the event you choose not to seek advice, you should consider whether the investment is suitable for you. The value of shares of the Fund and the income accruing to them, if any, may fall or rise. The Funds typically offer different share classes, which are subject to different fees and expenses (which may affect performance), have different minimum investment requirements and are entitled to different services. Unless otherwise stated in the prospectus, the Fund referenced in this material is not managed against a particular benchmark or index, and any reference to a particular benchmark or index in this material is made solely for risk or performance comparison purposes.
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