GIS Euro Short-Term Fund


Updated 23 March 2018


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    1,483 MM
    (as of 28/02/2018)
    1,483 MM
    (as of 28/02/2018)
    Fixed Income
    Fixed Income


The investment objective of the Euro Short-Term Fund is to seek maximum current income consistent with the preservation of capital and daily liquidity.


Fund Description

The Euro Short-Term Fund employs a multi-strategy fixedincome approach to enhanced cash returns. The fund invests at least two-thirds of its assets in a diverse portfolio of eurodenominated, investment grade fixed-income securities, has an average portfolio duration of one and a half years or less, and may hold up to 10% in high yield and emerging markets.

Investor Benefits

The fund focuses on preserving capital and minimizing downside risk, while targeting consistent excess returns over cash.

The Fund Advantage

This fund operates within a rigorous risk management framework while employing active strategies, which provides potential for stable enhanced returns over cash.


1 Month Euribor Rate Index


Euribor(Euro Interbank Offered Rate) is the benchmark rate of the large euro money market. It is sponsored by the European Banking Federation, which represents 2,800 banks in the fifteen Member States of the European Union and the EMU division of ACI, the financial Markets Association. A representative sample of prime banks will provide daily quotes - for thirteen maturities from one week to one year - at which interbank term deposits denominated in euro are being offered within the euro zone between prime banks. The average rate is calculated after elimination of the highest/lowest quotations (15% each side). Euribor is quoted for spot value (T+2) and on an actual/360 day-count convention, and are displayed from 4 January 1999 to three decimals. It will be disseminated at 11:00 a.m., Brussels time.






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VAG Compliance





Andrew Bosomworth

Head of Portfolio Management, Germany

View Profile

Yields & Distributions

Historical Prices & Distributions

Estimated Gross Yield to Maturity1 as of 28/02/2018 0.38%
Current Yield2 as of 28/02/2018 1.63%
Yields & Distributions Footnotes & 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 1.15%

Prices & Performance

Daily Statistics

All data as of 23/03/2018

NAV (EUR) 11.16 One Day Return 0.00%
Daily Change (EUR) 0.00 Daily YTD Return -0.27%
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


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

Maturity %

0-1 yrs 49.06
1-3 yrs 48.97
3-5 yrs 1.98
5-10 yrs 0.00
10-20 yrs 0.00
20+ yrs 0.00
Effective Maturity (yrs) 1.09

Risk Characteristics
(Trailing 3 Years)

Standard Deviation 0.47
Sharpe Ratio3 -3.12
Information Ratio4 -1.65
Tracking Error5 0.48

Top 10 Country by Currency of Settlement (DWE%)

European Union 40.40
Sweden 23.81
Germany 10.12
France 7.03
Netherlands 5.38
Italy 5.03
United States 2.82
Spain 1.48
Ireland 1.14
United Kingdom 0.82

Duration Yrs

0-1 yrs 0.30
1-3 yrs 0.72
3-5 yrs 0.06
5-7 yrs 0.00
7-8 yrs 0.00
8-10 yrs 0.00
10+ yrs 0.00
Effective Duration (yrs) 1.07

Sector Allocation - Duration in Years

Government Related6 0.22
Mortgage 0.05
Invest. Grade Credit 0.48
High Yield Credit 0.03
Emerging Markets7 0.03
Municipal/Other8 0.01
Net Other Short Duration Instruments9 0.26

Top 10 Country by Currency of Settlement (FX%)

Mexico 2.42
Russia 1.24
Norway 0.99
Czech Republic 0.98
Sweden 0.98
Turkey 0.72
Indonesia 0.24
Nigeria 0.01
Switzerland -0.02
United States -5.68
Portfolio Composition Footnotes & Disclosures


3The 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.
4The 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.
5Tracking error, a measure of risk, is defined as the standard deviation of the portfolio's excess return vs. the benchmark expressed in percent.
6May include nominal and inflation-protected Treasuries, Treasury futures and options, agencies, FDIC-guaranteed and government-guaranteed corporate securities, and interest rate swaps.
7Short 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.
8May include municipals, convertibles, preferreds, and yankee bonds.
9Net 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 overall duration of the fund


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