GIS Capital Securities Fund

ISIN: IE00BLZH2Q20

Updated 13 July 2018

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  • DAILY NAV (USD)
    11.95
  • DAILY YTD RETURN
    -2.13%
  • TOTAL NET ASSETS (USD)
    7,742 MM
    (as of 30/06/2018)
  • TOTAL NET ASSETS (USD)
    7,742 MM
    (as of 30/06/2018)
  • CLASS
    Fixed Income
  • CLASS INCEPTION DATE
    19/05/2014
  • CLASS
    Fixed Income
  • CLASS INCEPTION DATE
    19/05/2014

Objective

The investment objective is to seek to provide focused exposure to attractively priced Capital Securities together with maximum total return, consistent with preservation of capital and prudent investment management.

Overview

Fund Description

The PIMCO GIS Capital Securities Fund is an actively managed global portfolio that invests primarily in subordinated debt instruments issued by banks, insurance companies, and other specialty finance companies. Most investments will be concentrated in Tier1, Tier 2, and contingent convertible (“CoCo”) Bonds though the fund maintains flexibility to invest across the capital structure.

Investor Benefits

This fund offer investors diversified exposure to higher yielding capital securities which may provide attractive returns relative to bank equities or traditional high yield bonds. PIMCO’s fundamental research, which combines macroeconomic analysis with bottom-up security selection process, seeks to identify the strongest conviction financial issues without being tied to a capital securities benchmark. Potential benefits of this include:

  • Potential for high income and yield
  • Diversification across issuers and regions
  • Flexibility to allocate across the capital structure based on relative value

The Fund Advantage

This fund is an efficient way to gain exposure to an actively managed and diversified portfolio of higher-yielding capital securities from financial issuers. PIMCO employs proprietary credit research to these issuers and employs dedicated traders to this sector of the credit market, allowing for potentially advantageous issuer and security selection.

PRIMARY BENCHMARK

3 Month USD LIBOR Index

PRIMARY BENCHMARK DESCRIPTION

The 3 Month USD LIBOR (London Interbank Offered Rate) Index is an average interest rate, determined by the ICE Benchmark Administration, that banks charge one another for the use of short-term money (3 months) in England's Eurodollar market. It is not possible to invest in an unmanaged index.

DIVIDEND FREQUENCY

SHARE CLASS INCEPTION

19/05/2014

OLDEST SHARE CLASS

OLDEST SHARE CLASS INCEPTION

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BASE CURRENCY

ISIN

IE00BLZH2Q20

TICKER

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SEDOL

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SHARE CLASS CURRENCY

CUSIP

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VALOREN

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VAG Compliance

Traspasable

Yes

RELATED

Managers

Philippe Bodereau

Portfolio Manager, Global Head of Financial Research

View Profile

Matthieu Loriferne

Portfolio Manager, Capital Securities and Financials

View Profile

Michael Bogecho

Portfolio Manager, Capital Securities and Financials

View Profile

Yields & Distributions

Historical Prices & Distributions

Estimated Gross Yield to Maturity1 as of 30/06/2018 6.79%
Current Yield2 as of 30/06/2018 5.07%
Yields & Distributions Footnotes & Disclosures

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.
2The 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.

Fees & Expenses

Unified Fee 1.14%

Prices & Performance

Daily Statistics

All data as of 13/07/2018

NAV (USD) 11.95 One Day Return 0.17%
Daily Change (USD) 0.02 Daily YTD Return -2.13%
Click here to view Historical Prices
  • Average Annual Returns
  • Cumulative Returns

All data as of

  • Daily
  • Month End

All data as of

  • Daily
  • Month End

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

Prices & Performance Footnotes & Disclosures

disclosures

Performance quoted represents past performance. Past performance is not a guarantee or a reliable indicator of future results. Current performance may be lower or higher than performance shown. Investment return and the principal value of an investment will fluctuate. Shares may be worth more or less than original cost when redeemed. Performance data current to the most recent month-end is available by calling +44 203 3640 1552.
A rating is not a recommendation to buy, sell or hold a fund. © 2017 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. For more detailed information about Morningstar Rating, including its methodology, please go to: The Morningstar Rating Methodology.

Portfolio Composition

All data as of unless otherwise stated

Duration in Years

Effective Duration (yrs) 3.49

Sector Allocation
Market Value %

Banking 86.79
Insurance 2.24
Finance Corporation 1.44
Government -1.10
Non-Financials -14.58

Region Exposure (MV%)

Eurozone 24.71
United States 24.47
United Kingdom 22.97
Liabilities 17.80
Europe non-EMU 7.44
Other Industrialized Countries 1.62
Japan 0.71
EM - CEEMEA 0.29
Dollar Block 0.00

Risk Characteristics
(Trailing 3 Years)

Standard Deviation 6.16
Sharpe Ratio3 0.66