PIMCO Emerging Markets Bond Fund E Inc USD (QDis)

PIMCO 新興市場債券基金 E類 Inc 美元 (QDis)

IE00B0MD9S72

Risk Rating: Level 4

iFund risk rating methodology is a qualitative and quantitative assessment of a single fund’s geographic and asset class focus, investment style and any potential risk factors, as measured from one (1) (lowest risk) to six (6) (highest risk). For the funds with risk rating three (3) or four (4), these are mainly aimed at providing income and capital appreciation to investors by investing primarily in balanced portfolio, including high yield bonds and global equities etc. For more details, please refer to the Due Diligence section under the Procedures page.

Dealing Hours

Dealing Information

Secure Transaction

Derivatives knowledge not required

HKD4,000.00Min. Subscription

1.69%

HKD4,000.00Min. Subscription

AUD / HKD / EUR / USD

HKD4,000.00Min. Subscription

HKD4,000.00

HKD4,000.00

Daily

16:30

2019-11-27

*Not include dividends (If applicable)

Fund Performances (including dividend, if any)

1 mth
-0.09%
3 mth
+0.27%
6 mth
+4.80%
1 yr
+11.97%
3 yr
+16.89%
5 yr
+21.15%

Analytical Figures (3 years)

Annualized Return
+5.34%
Annualized Volatility
+5.67%
Sharpe Ratio
+0.50

Fund Information

Fund Houses
PIMCO Asia Limited
Launch Date
2006-03-30
Fund Manager
Michael A. Gomez
Francesc Balcells
Manager Start Date
Michael Gomez (Start Date: 2009-04-01) Francesc Balcells (Start Date: 2009-04-01)
Geographical Focus
Emerging Markets
Asset Class/ Sector
Fixed Income - Hybrid
Risk Rating
Risk Level 4

iFund risk rating methodology is a qualitative and quantitative assessment of a single fund’s geographic and asset class focus, investment style and any potential risk factors, as measured from one (1) (lowest risk) to six (6) (highest risk). For the funds with risk rating three (3) or four (4), these are mainly aimed at providing income and capital appreciation to investors by investing primarily in balanced portfolio, including high yield bonds and global equities etc. For more details, please refer to the Due Diligence section under the Procedures page.

Fund AUM(As of 2019-10-30)
USD 3,842,289,269.72
Management Fee
1.69%
Latest Dividend
USD 0.101700 (2019-09-26)

Sector Leaders

    No Funds

Dealing Information

Secure Transaction

Derivatives knowledge not required

HKD4,000.00Min. Subscription

1.69%

HKD4,000.00Min. Subscription

AUD / HKD / EUR / USD

HKD4,000.00Min. Subscription

HKD4,000.00

HKD4,000.00

Daily

16:30

2019-11-27

Dividend Records

Dividend DateDividend Records (USD)
2019-09-260.101700
2019-06-260.103900
2019-03-270.105712
2018-12-270.086306
2018-09-260.098398
2018-06-270.097682
2018-03-270.073513
2017-12-270.109504
2017-09-270.102322
2017-06-280.108807
2017-03-290.111481
2016-12-290.137882
2016-12-280.137900
2016-09-280.133674
2016-06-280.126369
2016-03-290.115140
2015-12-290.121145
2015-09-280.121253
2015-06-280.117012
2015-03-290.111777
2014-12-290.115805
2014-09-280.139984
2014-06-260.119733
2014-03-270.112298
2013-12-290.109724
2013-09-260.133504
2013-06-260.108708
2013-03-260.117866
2012-12-270.122969
2012-09-260.122910
2012-06-270.113359
2012-03-280.109825
2011-12-280.110855
2011-09-280.140339
2011-06-280.132432
2011-03-290.117693
2010-12-280.099715
2010-09-280.119026
2010-06-280.116659
2010-03-290.141050
2009-12-210.113200
2009-12-140.113236
2009-09-280.132300
2009-09-210.132313
2009-06-220.042200
2009-06-150.042193
2009-03-240.283300
2009-03-170.283317
2008-12-210.207000
2008-12-140.207004
2008-09-210.120000
2008-09-140.120000
2008-06-220.090000
2008-06-150.090000
2008-03-260.180000
2008-03-170.180000
2007-12-230.070000
2007-12-160.070000
2007-09-160.160000
2007-06-170.120000
2007-03-190.130000
2006-12-270.130000
2006-12-170.130000
2006-09-170.110000
2006-06-290.120000
2006-03-300.130000
2005-12-290.080000

Investment Objective

The Fund’s objective is to seek maximum total return consistent with prudent investment management (i.e. identifying and implementing strategies for consistent, disciplined and cost-effective investment, based on considerable research and measured forethought, and continual monitoring of individual security and total portfolio risk).

Nature and Extent of Risks

Investment involves risks. Please refer to the Prospectus for details including the risk factors.
1. Emerging markets risk
- Investing in emerging markets securities imposes risks different from, or greater than, risks of investing in developed countries due to, among other factors, greater price volatility, market, credit, legal, liquidity, currency, political, economic and regulatory risks.
- The systems and procedures for trading and settlement of securities in emerging markets are less developed and less transparent and transactions may take longer to settle. In addition, foreign exchange controls in emerging market countries may cause difficulties in the repatriation of funds from such countries.
- Because the Fund’s investments are concentrated in emerging markets, the Fund is likely to be subject to greater volatility than portfolios which comprise broad-based global investments. During times of market uncertainty, such investments may negatively affect the Fund’s performance.
2. Credit risk
- The Fund may suffer losses if the issuer of a fixed income security in which it invests is unable or unwilling to make timely principal and/or interest payments, or to otherwise honour its obligations.
3. Interest rate risk
- The value of fixed income securities tends to decrease when interest rates rise, which may cause a decrease in value of the Fund.
- Fixed income securities with longer durations are more sensitive to changes in interest rates, usually making them more volatile than securities with shorter durations.
4. Downgrade risk
- The Fund may hold securities that may be impacted by a downgraded credit rating. In the event of downgrading of the securities, the Fund’s investment value in such securities may be adversely affected.
- Investment in non-investment grade securities involves higher volatility, credit and liquidity risks.
5. High yield, below investment grade and unrated securities risk
- The Fund may invest in high yield, below investment grade securities and unrated securities of similar credit quality.
- These securities typically entail greater potential price volatility and may be less liquid than higher-rated securities.
- Investments in such securities may also be subject to greater credit risk. If the issuer of a security is in default with respect to interest or principal payments, the Fund may lose its entire investment.
6. Derivatives risk
- The use of derivatives involves risks different from, and possibly greater than, risks associated with investing directly in securities and other more traditional investments.
-The use of derivatives involves the risk of loss due to default by a counterparty to make required payments or otherwise comply with the terms of the contract.
- Liquidity risk exists when a particular derivative instrument becomes difficult to purchase or sell. In such cases, the Fund may not be able to initiate a transaction or liquidate a position at an advantageous time or price. –
The use of some derivatives may involve volatility risk, which is the risk that movements in the value or level of the underlying asset, rate or index are magnified thus increasing the volatility of the Fund price.
- Derivatives also involve the risk of mispricing or improper valuation and the risk that changes in the value of the derivative may not correlate perfectly with the underlying asset.
- In adverse situations, the use of financial derivative instruments by the Fund for hedging may become ineffective and the Fund may suffer significant losses as a result.
- Although the leverage figure of the Fund calculated using the commitment approach will typically not materially exceed 100% of the NAV of the Fund, in exceptional circumstances the Fund may have a leveraged exposure of over 100% of the NAV of the Fund when using this calculation methodology. Given the leverage effect embedded in derivatives, in the worst case scenario, investing in derivatives may result in total or substantial loss (as much as 100% of the NAV of the Fund) from the use of derivatives.
7. Currency risk
- The Fund’s investment in non-USD denominated fixed income securities and currency positions may cause the value of the Fund’s investments to fluctuate with changes in exchange rates. This may lead to a fall in the Fund’s NAV.
- Active currency positions implemented directly or indirectly by the Fund may not be correlated with the underlying securities held by the Fund. As a result, the Fund may suffer significant losses even if there is no loss to the value of the underlying securities held by the Fund.
8. Risks associated with investments in non-investment grade securities of a single sovereign issuer
- The Fund may be subject to increased credit risk and increased risk of default of the relevant issuer as a result of its ability to invest more than 10% in non-investment grade securities of a single sovereign issuer.
- A sovereign issuer’s ability to meet its principal and interest payments may be adversely affected by developments specific to the sovereign issuer. The downgrade of a sovereign credit rating or the default of a sovereign issuer may negatively affect the Fund’s performance.
- Debt securities with a below investment grade rating are also more vulnerable to adverse business, financial and economic conditions compared to securities with a credit rating of investment grade or above.
- To the extent that the Fund concentrates its investments in a particular issuer, security or geographic region, its investments will be more susceptible to fluctuations in value resulting from adverse conditions in the particular issuer, security or geographic region. Such conditions may include, but are not limited to, unfavourable or unanticipated poor performance of a particular issuer and political instability facing a particular geographic region. This may cause the Fund to be more volatile.
- Under adverse conditions, such investments may adversely affect the performance of the Fund.
9. Liquidity risk
Liquidity risk exists when particular investments are difficult to purchase or sell. Also, illiquid securities may become harder to value especially in changing markets.
- The Fund’s investments in illiquid securities may reduce the returns of the Fund because it may be unable to sell the illiquid securities at an advantageous time or price which could prevent the Fund from taking advantage of other investment opportunities.
10. Investment risk
- The Fund’s investment portfolio may fall in value and therefore your investment in the Fund may suffer losses. There is no guarantee of the repayment of principal.
- Due to the higher than average degree of risk attached to investment in the Fund due to its ability to invest in high yield securities and emerging markets securities, an investment in the Fund should not constitute a substantial proportion of an investment portfolio and may not be appropriate for all investors.
11. Global Investment risk
- The Fund invests in securities of certain international jurisdictions and may experience more rapid and extreme changes in value.
- Events such as nationalisation, expropriation or confiscatory taxation, currency blockage, economic uncertainty, political changes or diplomatic developments could adversely affect the Fund’s investments.
- To the extent that a Fund invests a significant portion of its assets in a concentrated geographic area like Europe or Asia, the Fund will generally have more exposure to regional economic risks associated with investments.
- In the event that a Fund invests in a regional currency (i) which ceases to exist or (ii) in which a participant in such currency ceases to be a participant in such currency, it is likely that this would have an adverse impact on the Fund’s liquidity.
12. Risks relating to the charging of fees / payment of dividends out of capital
- For the Income II Shares (which seeks to provide an enhanced yield to shareholders), the Fund may, at its discretion, charge fees to capital (which constitutes a payment of dividends effectively out of capital) as well as pay dividends out of capital. The Fund may also take into account the yield differential (which can be positive or negative) arising from share class currency hedging (which constitutes a distribution from capital). This amounts to a return or withdrawal of part of an investor’s original investment or from any capital gains attributable to the original investment.
- Any distributions involving the payment of dividends of out capital, the charging of fees to capital or the payment of yield differential arising from share class currency hedging as dividends may result in an immediate reduction of the NAV per share for the Income II Shares and may reduce the capital available for future investment and capital growth.

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