The Global High Yield Bond Fund seeks to maximise total
return and limit risk with an emphasis on upper tier high
yield bonds. The fund invests at least two-thirds of its assets
in a diversified portfolio of global high yield bonds rated
lower than Baa by Moody’s or BBB by S&P with a maximum
of 20% of its assets in securities rated lower than B.
This fund offers compelling diversification benefits and the
opportunity to gain exposure to different sectors of the
The Fund Advantage
The fund employs PIMCO’s fundamental research process,
including top-down economic views, bottom-up security
selection and extensive global resources.
ICE BofAML BB‑B Rated Developed Markets High Yield Constrained Index Hedged into USD
PRIMARY BENCHMARK DESCRIPTION
ICE BofAML BB-B Rated Developed Markets High Yield Constrained Index Hedged into USD tracks the performance of below investment grade bonds of corporate issuers domiciled in developed market countries having an investment grade foreign currency long term debt rating (based on a composite of Moody's, S&P, and Fitch). The Index includes bonds denominated in U.S. dollars, Canadian dollars, sterling, euro (or euro legacy currency), but excludes all multicurrency denominated bonds. Bonds must be rated below investment grade but at least B3 based on a composite of Moody's, S&P, and Fitch. Qualifying bonds are capitalization-weighted provided the total allocation to an individual issuer (defined by Bloomberg tickers) does not exceed 2%. Issuers that exceed the limit are reduced to 2% and the face value of each of their bonds is adjusted on a pro-rata basis. Similarly, the face value of bonds of all other issuers that fall below the 2% cap are increased on a pro-rata basis. It is not possible to invest directly in an unmanaged index. Prior to September 25th, 2009, the ICE BofAML Indices were known as the Merrill Lynch Indices.