GIS RAE Fundamental PLUS Global Developed Fund


Updated 23 March 2018


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    383 MM
    (as of 28/02/2018)
    383 MM
    (as of 28/02/2018)


The investment objective is to seek a total return which exceeds that of its benchmark index namely, the MSCI World Index.


Fund Description

The PIMCO GIS RAE Fundamental PLUS Global Developed Fund is a fundamentally-weighted, smart beta-based equity strategy that aims to outperform the MSCI World Index. Unlike traditional market cap-weighted approaches, the fund selects and weights stocks based on non-price measures of company size. By removing price from the portfolio construction process, the fund seeks to capitalize on market inefficiencies, systematically capturing returns when prices deviate from fundamentals. Additionally, PIMCO’s innovative PLUS™ implementation provides a second source of excess return and diversification potential. This approach simply uses equity-linked instruments to provide investors with full equity exposure, which leaves the bulk of their capital free to be allocated to a complementary bond alpha strategy.

Investor Benefits

This fund offers investors persistent, meaningful potential excess returns over Global Developed equity markets without a corresponding increase in volatility. Potential benefits of this fund include:

  • A broad, diversified exposure to Global Developed equity markets
  • Ability to capitalize on market inefficiencies, contratrading against the market to systematically buy low and sell high
  • Time-tested, rules-based approach provides opportunity for long-term outperformance

The Fund Advantage

In addition to a broad, diversified equity market exposure, the fund provides the potential for meaningful outperformance relative to both the market and passively implemented smart beta index approaches.


MSCI World Index


The MSCI World Index is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed markets. The MSCI World Index consists of 23 developed market country indices. It is not possible to invest directly in an unmanaged index.






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VAG Compliance





Mohsen Fahmi

Portfolio Manager, Global Fixed Income

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Robert Arnott

Founder and Chairman, Research Affiliates

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Yields & Distributions

Historical Prices & Distributions

Estimated Gross Yield to Maturity1 as of 28/02/2018 2.85%
Current Yield2 as of 28/02/2018 2.10%
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 2.25%

Prices & Performance

Daily Statistics

All data as of 23/03/2018

NAV (USD) 13.01 One Day Return -1.74%
Daily Change (USD) -0.23 Daily YTD Return -3.20%
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

Summary Characteristics - RAE
Market Value %

Stocks in Portfolio 897
P/E Ratio (Forward) 12.69
Weighted Median Market Cap ($US MM) 42,550.48
P/E Ratio (Trailing) 15.06
Weighted Avg Market Cap ($US MM) 94,882.65

Regional Diversification RAE
Market Value %

Americas 47.61
EMEA 34.13
Asia Pacific 17.40
Emerging Markets 0.86

Top 5 GICS Sector - RAE
Market Value %

Financials 30.09
Industrials 11.29
Consumer Discretionary 11.25
Information Technology 11.11
Health Care 8.19

Risk Characteristics
(Trailing 3 Years)

Standard Deviation 12.83
Sharpe Ratio3 0.56
Information Ratio4 -0.20
Tracking Error5 4.26

Summary Characteristics - CAP
Market Value %

Stocks in Portfolio 1,630
P/E Ratio (Forward) 16.31
Weighted Median Market Cap ($US MM) 54,592.29
P/E Ratio (Trailing) 19.97
Weighted Avg Market Cap ($US MM) 126,356.38

Regional Diversification - CAP
Market Value %

Americas 62.95
EMEA 23.36
Asia Pacific 12.21
Emerging Markets 1.48

Top 5 GICS Sector - CAP
Market Value %

Financials 18.34
Information Technology 17.81
Consumer Discretionary 12.68
Health Care 11.72
Industrials 11.67
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.


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This Website is operated and issued by PIMCO Europe Ltd, which is authorised and regulated in the conduct of its investment business by the Financial Conduct Authority (25 The North Colonnade, Canary Wharf, London E14 5HS) in the United Kingdom.
For full details of the investment objective and investment policy of the fund described on this page, please refer to the prospectus and key investor information document for the fund available on the Fund Literature page of this website.
The fund can invest a portion of its assets in non-Euro securities, which can entail greater risks due to non-Euro economic and political developments. This risk may be enhanced when investing in Emerging Markets. Investment in a fund that invests in high-yield, lower-rated securities, will generally involve greater volatility and risk to principal than investments in higher-rated securities. This fund may use derivative instruments for hedging purposes or as part of its investment strategy. Use of these instruments may involve certain costs and risks. Portfolios investing in derivatives could lose more than the principal amount invested.

Diversification does not ensure against loss. Each sector of the bond market entails risk. Some bonds may realize gains and may incur a tax liability from time to time. Any guarantee on government bonds is to the timely repayment of principal and interest, shares of a portfolio that invest in them are not guaranteed. Mortgage and Asset backed securities are subject prepayment risk and may be sensitive to changes in prevailing interest rates, when they rise the value generally declines. With corporate bonds there is no assurance that issuers will meet their obligations. An investment in high-yield securities generally involves greater risk to principal than an investment in higher-rated bonds. Investing in foreign denominated and/or domiciled securities may involve heightened risk due to currency fluctuations, and economic and political risks, which may be enhanced in emerging markets. Derivatives may involve certain costs and risks such as liquidity, interest rate, market, credit, management and the risk that a position could not be closed when most advantageous. Investing in derivatives could lose more than the amoun