GIS Asia Strategic Interest Bond Fund

ISIN: IE00B464Q616

Updated 01 March 2021

  • The Fund may use or invest in financial derivatives.

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  • DAILY NAV (USD)
    8.95
  • DAILY YTD RETURN
    -0.45%
  • TOTAL NET ASSETS (USD)
    173 MM
    (as of 28/02/2021)
  • TOTAL NET ASSETS (USD)
    173 MM
    (as of 28/02/2021)
  • CLASS
    Fixed Income
  • CLASS INCEPTION DATE
    01/06/2010
  • CLASS
    Fixed Income
  • CLASS INCEPTION DATE
    01/06/2010

Objective

The primary investment objective of Asia Strategic Interest Bond Fund is to seek to generate attractive and stable income. Long-term capital appreciation is a secondary objective.

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Overview

Prior to 28 August 2020, the Asia Strategic Interest Bond Fund was named the Emerging Asia Bond Fund.

Fund Description

The Asia Strategic Interest Bond Fund is a flexible and actively managed portfolio that seeks to generate attractive and stable income through investing at least two thirds of its total assets in fixed income instruments in Asia ex-Japan. The fund may also invest up to one third of its total assets outside of Asia ex-Japan. The fund will allocate to both investment grade and high yield bonds and across sovereigns, quasi-sovereigns and corporate issuers. Whilst predominantly invested in hard currency bonds, the portfolio may also seek tactical opportunities in local currency denominated bonds.

Investor Benefits

The fund seeks to meet the needs of investors who are targeting a competitive and consistent level of income without compromising long term capital appreciation. It offers the opportunity to gain exposure to different sectors of the Asian fixed interest markets, while also having the flexibility to allocate to select opportunities outside of Asia.

The Fund Advantage

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

BENCHMARK

J.P. Morgan Asia Credit Index (JACI)

BENCHMARK DESCRIPTION

The J.P. Morgan Asia Credit Index (JACI) measures the performance of Asia ex Japan USD denominated bond market. Index provides a benchmark for investment opportunities in fixed and floating rate US dollar-denominated bonds issued by Asia sovereigns, quasi-sovereigns, banks, and corporates plus 10% 1 month USD Libor.

DIVIDEND FREQUENCY

SHARE CLASS INCEPTION

01/06/2010

OLDEST SHARE CLASS

OLDEST SHARE CLASS INCEPTION

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BASE CURRENCY

ISIN

IE00B464Q616

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

Yes

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

Mohit Mittal

Portfolio Manager, Liability Driven Investment and Credit

View Profile for Mohit Mittal

Abhijeet Neogy

Portfolio Manager

View Profile for Abhijeet Neogy

Yields & Distributions

Historical Prices & Distributions

Estimated Gross Yield to Maturity1 as of 31/01/2021 4.52%
Annualised Distribution Yield2 as of 31/01/2021 3.98%
Average Payout Yield Since Inception 3,4 as of 31/01/2021 5.24%
Current Yield5 as of 31/01/2021 4.43%
Underlying Portfolio Yield6 as of 31/01/2021 2.93%
Average Annualised Distribution Yield as of 31/01/2021 3.97%
Latest Dividend Distribution3,7 as of 25/02/2021 (USD) 0.02978
Dividend Distribution (YTD) 3,8 as of 25/02/2021 (USD) 0.05967
Average Distribution Since Inception (per annum) 3,9 as of 28/01/2021 (USD) 0.50439

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 0.029776 - -
28/01/2021 0.029892 54.57% 45.43%
30/12/2020 0.029915 52.44% 47.56%
27/11/2020 0.029669 85.02% 14.98%
29/10/2020 0.029317 73.83% 26.17%
29/09/2020 0.029442 85.81% 14.19%
27/08/2020 0.029681 52.76% 47.24%
30/07/2020 0.029404 75.20% 24.80%
29/06/2020 0.028998 70.37% 29.63%
28/05/2020 0.028519 61.04% 38.96%
29/04/2020 0.028009 69.34% 30.66%
30/03/2020 0.026936 78.11% 21.89%

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 and the Income II Shares, the Fund may at its discretion pay dividends out of capital and charge management and other fees payable by the Fund/Income II Shares to the capital of the Fund/Income II Shares (as the case may be), thereby resulting in an increase in distributable income available for the payment of dividends by the Fund/Income II Shares and therefore, the Fund / Income II shares may effectively pay dividends out of capital. In the case of Income II Shares, the Fund may also take into account the yield differential arising from share class currency hedging (which constitutes a distribution from capital). This may result in an immediate reduction of the NAV per share for the Fund and 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 1.50%

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

Since 28 August 2020, there was a change of the Fund’s objective and investment policy, the performance prior to 28 August 2020 were achieved under circumstances that no longer apply.

Daily Statistics

All data as of 01/03/2021

NAV (USD) 8.95 One Day Return 0.11%
Daily Change (USD) 0.01 Daily YTD Return -0.45%
Daily YTD Return (net of 5% Preliminary Charge) -5.46%

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 5.50
1-3 yrs 27.79
3-5 yrs 34.95
5-10 yrs 26.68
10-20 yrs 0.84
20+ yrs 4.23
Effective Maturity (yrs) 5.52

Risk Characteristics
(Trailing 3 Years)

Standard Deviation11 5.74
Sharpe Ratio12 0.79
Information Ratio13 0.31
Tracking Error14 1.34

Top 10 Direct EM Country Exposure (MV%)

China 49.26
Indonesia 11.94
India 9.22
Hong Kong 5.56
Ireland 5.29
South Korea 5.05
Macao 3.26
Philippines 2.64
Malaysia 2.43
Sri Lanka 1.16

Duration %

0-1 yrs 1.44
1-3 yrs 13.77
3-5 yrs 28.77
5-7 yrs 17.45
7-8 yrs 5.58
8-10 yrs 11.93
10+ yrs 21.06
Effective Duration (yrs) 4.34

Sector Allocation
Market Value %

US Government Related 1.89
Securitized 0.00
Invest. Grade Credit 12.31
High Yield Credit 4.51
Non-USD Developed -0.89
Emerging Markets15 79.18
Other 2.83
Net Other Short Duration Instruments16 0.17

Top 10 Country Exposure (FX%)

Indonesia 1.50
India 1.49
Japan 1.40
South Korea 1.00
China 0.98
Australia 0.02
Euro Currency 0.02
Russia -0.01
Thailand -0.72
Hong Kong -1.40

disclosures

11Standard deviation is applied to the annual rate of return of an investment to measure the investment's volatility (risk). For share classes that have incepted for at least 3 years; the standard deviations are calculated using the monthly after fee returns of the share classes over the 3 year period (Trailing 3 years) and annualizing it. For share classes that have incepted for at least 1 year but less than 3 years; the standard deviation is calculated using the daily after fee returns of the share classes of the 1 year period (Trailing 1 years) and annualizing it.
12The Sharpe Ratio measures the risk-adjusted performance. The risk-free rate is subtracted from the rate of return for a portfolio and the result is divided by the standard deviation of the portfolio returns.
13The information ratio is defined as the portfolio's excess return per unit of risk, or tracking error. For example, an information ratio of 1 means that a portfolio manager generates 100 basis points, or one percent of excess return for every 100 basis points of risk taken.
14Tracking error, a measure of risk, is defined as the standard deviation of the portfolio's excess return vs. the benchmark expressed in percent.
15Short duration emerging markets instruments includes an emerging market security or other instrument economically tied to an emerging market country by country of risk with an effective duration less than one year and rated investment grade or higher or if unrated, determined to be similar quality by PIMCO. Emerging Markets includes the value of short duration emerging markets instruments previously reported in another category.
16Net 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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