GIS Income Fund

ISIN: IE00B92ZW543

Updated 20 November 2020

  • The Fund may use or invest in financial derivatives.

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  • DAILY NAV (HKD)
    10.28
  • DAILY YTD RETURN
    2.91%
  • TOTAL NET ASSETS (USD)
    66,869 MM
    (as of 31/10/2020)
  • TOTAL NET ASSETS (USD)
    66,869 MM
    (as of 31/10/2020)
  • CLASS
    Fixed Income
  • CLASS INCEPTION DATE
    04/02/2013
  • CLASS
    Fixed Income
  • CLASS INCEPTION DATE
    04/02/2013

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.

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Overview

Fund Description

The Income Fund is a portfolio that is actively managed and utilizes a broad range of fixed income securities that seek to produce an attractive level of income while maintaining a relatively low risk profile, with a secondary goal of capital appreciation.

Investor Benefits

This fund seeks to meet the needs of investors who are targeting a competitive and consistent level of income without compromising long term capital appreciation. The fund seeks to generate a competitive monthly dividend while also maintaining a focus on the total return objective. The fund aims to achieve this by employing PIMCO’s best income-generating ideas across global fixed income sectors with an explicit mandate on risk-factor diversification. The fund offers daily liquidity.

The Fund Advantage

This fund is designed for investors who seek steady income:it takes a broad-based approach to investing in income-generatingbonds. The fund taps into multiple areas of theglobal bond market, and employs PIMCO’s vast analyticalcapabilities and sector expertise to help temper the risks ofhigh income investing. This approach seeks to provideconsistent income over the long term.

BENCHMARK

Bloomberg Barclays U.S. Aggregate (HKD Unhedged) Index

BENCHMARK DESCRIPTION

Bloomberg Barclays U.S. Aggregate Index HKD (Unhedged) represents securities that are SEC-registered, taxable, and dollar denominated. The index covers the U.S. investment grade fixed rate bond market, with index components for government and corporate securities, mortgage pass-through securities, and asset-backed securities. These major sectors are subdivided into more specific indices that are calculated and reported on a regular basis. It is not possible to invest directly in an unmanaged index.

DIVIDEND FREQUENCY

SHARE CLASS INCEPTION

04/02/2013

OLDEST SHARE CLASS

OLDEST SHARE CLASS INCEPTION

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BASE CURRENCY

ISIN

IE00B92ZW543

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

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

Head of Global ABS Portfolio Management

View Profile for Joshua Anderson

Yields & Distributions

Historical Prices & Distributions

Estimated Gross Yield to Maturity1 as of 31/10/2020 4.13%
Annualised Distribution Yield2 as of 31/10/2020 4.09%
Average Payout Yield Since Inception 3,4 as of 31/10/2020 4.01%
Current Yield5 as of 31/10/2020 3.50%
Underlying Portfolio Yield6 as of 31/10/2020 2.05%
Average Annualised Distribution Yield as of 31/10/2020 4.12%
Latest Dividend Distribution3,7 as of 29/10/2020 (HKD) 0.03423
Dividend Distribution (YTD) 3,8 as of 29/10/2020 (HKD) 0.34233
Average Distribution Since Inception (per annum) 3,9 as of 29/10/2020 (HKD) 0.40763

Composition of Historical Dividend Distribution

Ex-Dividend Date Dividend Per Share ({{ overviewDataJSON.nav_currency }}) % of Distribution from Net Distributable Income % of Distribution from Capital
29/10/2020 0.034233 65.94% 34.06%
29/09/2020 0.034233 75.43% 24.57%
27/08/2020 0.034233 61.58% 38.42%
30/07/2020 0.034233 88.09% 11.91%
29/06/2020 0.034233 56.28% 43.72%
28/05/2020 0.034233 56.45% 43.55%
29/04/2020 0.034233 60.68% 39.32%
30/03/2020 0.034233 92.22% 7.78%
27/02/2020 0.034233 61.04% 38.96%
30/01/2020 0.034233 62.60% 37.40%
30/12/2019 0.034233 75.55% 24.45%
27/11/2019 0.034233 66.94% 33.06%

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 fees to capital, 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 charge other fees to capital and 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 1.45%

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 20/11/2020

NAV (HKD) 10.28 One Day Return 0.00%
Daily Change (HKD) 0.00 Daily YTD Return 2.91%
Daily YTD Return (net of 5% Preliminary Charge) -2.20%

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 15.66
1-3 yrs 35.59
3-5 yrs 34.95
5-10 yrs 13.10
10-20 yrs -5.57
20+ yrs 6.27
Effective Maturity (yrs) 4.12

Risk Characteristics
(Trailing 3 Years)

Standard Deviation11 6.02
Sharpe Ratio12 0.19
Information Ratio13 -0.35
Tracking Error14 5.97

Top Industry Sectors
Market Value %

Banks 17.63
Electric Utility 2.70
Financial Other 1.97
Technology 1.90
Healthcare 1.56
Wireless 1.51
Aerospace/Defense 1.38
Integrated Oil 1.37
Noncaptive Consumer Finance 1.21
Real Estate 1.18

Top 10 Country by Currency of Settlement (FX%)

United States 88.58
Mexico 2.49
Russia 2.09
China 1.10
India 0.78
South Africa 0.76
Australia 0.75
Sweden 0.75
Indonesia 0.74
Norway 0.73

Duration %

0-1 yrs 4.65
1-3 yrs 31.58
3-5 yrs 50.12
5-7 yrs 22.13
7-8 yrs 0.66
8-10 yrs -54.88
10+ yrs 45.75
Effective Duration (yrs) 2.19

Sector Allocation - Duration in Years

Government Related15 -1.92
Securitized 1.68
Invest. Grade Credit 1.46
High Yield Credit 0.32
Emerging Markets16 0.59
Municipal/Other17 0.00
Net Other Short Duration Instruments18 0.06

Top 10 Country by Currency of Settlement (DWE%)

United States 107.14
Italy 9.71
Australia 7.89
Mexico 5.68
Peru 3.61
Netherlands 3.59
China 3.26
United Kingdom -3.26
European Union -6.79
Japan -39.09

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.
15May include nominal and inflation-protected Treasuries, Treasury futures and options, agencies, FDIC-guaranteed and government-guaranteed corporate securities, and interest rate swaps.
16Short 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.
17May include municipals, convertibles, preferreds, and yankee bonds.
18Net 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.
Duration Weighted Exposure (DWE%) is the percentage weight of each sector’s contribution to the overallduration of the fund

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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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