GIS US High Yield Bond Fund

ISIN: IE00B8JZZ402

Updated 16 July 2018

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  • DAILY NAV (USD)
    9.98
  • DAILY YTD RETURN
    0.28%
  • TOTAL NET ASSETS (USD)
    2,782 MM
    (as of 30/06/2018)
  • TOTAL NET ASSETS (USD)
    2,782 MM
    (as of 30/06/2018)
  • CLASS
    Fixed Income
  • CLASS INCEPTION DATE
    30/11/2012
  • CLASS
    Fixed Income
  • CLASS INCEPTION DATE
    30/11/2012

Objective

The investment objective of the High Yield Bond Fund is to seek to maximise total return, consistent with preservation of capital and prudent investment management.

Overview

Fund Description

The US High Yield Bond Fund seeks to maximise total return and limit risk. The fund invests at least two-thirds of its assets in a diversified portfolio of US high yield bonds rated lower than Baa by Moody’s or BBB by S&P, with a maximum of 30% of its assets in securities rated lower than B

Investor Benefits

This fund offers compelling diversification benefits and the opportunity to gain exposure to different sectors of the economy.

The Fund Advantage

The fund employs PIMCO’s fundamental research process, including top-down economic views, bottom-up security selection and extensive global resources.

PRIMARY BENCHMARK

ICE BofAML US High Yield Constrained Index

PRIMARY BENCHMARK DESCRIPTION

ICE BofAML US High Yield Constrained Index tracks the performance of US dollar denominated below investment grade rated corporate debt publically issued in the US domestic market. To qualify for inclusion in the index, securities must have a below investment grade rating (based on an average of Moody's, S&P, and Fitch) and an investment grade rated country of risk (based on an average of Moody's, S&P, and Fitch foreign currency long term sovereign debt ratings).

DIVIDEND FREQUENCY

SHARE CLASS INCEPTION

30/11/2012

OLDEST SHARE CLASS

OLDEST SHARE CLASS INCEPTION

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BASE CURRENCY

ISIN

IE00B8JZZ402

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

RELATED

Managers

Andrew R. Jessop

Portfolio Manager, High Yield

View Profile

Hozef Arif

Portfolio Manager, High Yield

View Profile

Yields & Distributions

Historical Prices & Distributions

Estimated Gross Yield to Maturity1 as of 30/06/2018 6.73%
Annualised Distribution Yield as of 30/06/2018 5.53%
Current Yield2 as of 30/06/2018 6.08%
Average Annualised Distribution Yield as of 30/06/2018 5.34%
Latest Dividend Distribution as of 28/06/2018 (USD) 0.13725
Dividend Distribution (YTD) as of 28/06/2018 (USD) 0.27526
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 0.80%

Prices & Performance

Daily Statistics

All data as of 16/07/2018

NAV (USD) 9.98 One Day Return 0.00%
Daily Change (USD) 0.00 Daily YTD Return 0.28%
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

Maturity %

0-1 yrs 6.66
1-3 yrs 9.36
3-5 yrs 30.10
5-10 yrs 51.00
10-20 yrs 2.29
20+ yrs 0.60
Effective Maturity (yrs) 5.51

Risk Characteristics
(Trailing 3 Years)

Standard Deviation 4.75
Sharpe Ratio3 0.99
Information Ratio4 -0.15
Tracking Error5 1.41

Sector Allocation
Market Value %

US Government Related -0.01
Mortgage 0.07
Invest. Grade Credit 3.79
High Yield Credit 87.95
Non-USD Developed 0.88
Emerging Markets6 0.49
Municipal/Other7 2.89
Net Other Short Duration Instruments8 3.92

Duration %

0-1 yrs 0.82
1-3 yrs 14.67
3-5 yrs 56.74
5-7 yrs 20.25
7-8 yrs 2.88
8-10 yrs 3.83
10+ yrs 0.81
Effective Duration (yrs) 3.41

Top 10 Country by Currency of Settlement (DWE%)

United States 99.09
European Union 0.45
Germany 0.27
United Kingdom 0.18
Japan 0.00
Australia 0.00
Brazil 0.00
Canada 0.00
Malaysia 0.00
Mexico 0.00
Portfolio Composition Footnotes & Disclosures

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.
6Short 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.
7May include municipals, convertibles, preferreds, and yankee bonds.
8Net 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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Disclosures

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.
In an environment where interest rates may trend upward, rising rates will negatively impact most bond funds, and fixed income securities held by a fund are likely to decrease in value. Bond funds and individual bonds with a longer duration (a measure of the expected life of a security) tend to be more sensitive to changes in interest rates, usually making them more volatile than securities with shorter durations.
The Fund invests primarily in high-yield bonds, which entail greater risk, such as less liquidity and possibility of default. The Fund may invest in non-US securities, which may entail greater risk due to non-US economic and political developments and may be enhanced when investing in emerging markets. This Fund may use derivative instruments for efficient portfolio management purposes. Use of these instruments may involve certain costs and risks such as liquidity risk, interest rate risk, market risk, credit risk, management risk and the risk that a fund could not close out a position when it would be most advantageous to do so. Portfolios investing in derivatives could lose more than the principal amount invested. The credit quality of the investment in the portfolio does not apply to the stability or safety of the Fund. The Fund offers 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.
Distributed by PIMCO Europe Ltd, 11 Baker Street, London, W1U 3AH, England.
No part of this publication may be reproduced in any form, or referred to in any other publication, without express written permission. Copyright 2017, PIMCO
GIS FUNDS
PIMCO Funds: Global Investors Series plc is an umbrella type open-ended investment company with variable capital and i