PIMCO Global High Yield Bond Fund E Acc USD

PIMCO 環球高孳息債券基金 E類 Acc 美元

IE00B1D7YM41

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.

Non-dealing Hours

Dealing Information

Secure Transaction

Derivatives knowledge not required

HKD4,000.00Min. Subscription

1.45%

HKD4,000.00Min. Subscription

AUD / HKD / EUR / USD

HKD4,000.00Min. Subscription

HKD4,000.00

HKD4,000.00

Daily

14:00

-

*Not include dividends (If applicable)

Fund Performances (including dividend, if any)

1 mth
+1.02%
3 mth
+0.41%
6 mth
+4.62%
1 yr
+17.68%
3 yr
+16.62%
5 yr
+33.30%

Analytical Figures (3 years)

Annualized Return
+5.26%
Annualized Volatility
+8.32%
Sharpe Ratio
+0.48

Fund Information

Fund Houses
PIMCO Asia Limited
Launch Date
2006-09-10
Fund Manager
Andrew Jessop
Hozef Arif
Manager Start Date
Andrew Jessop (Start Date: 2010-01-01) Hozef Arif (Start Date: 2016-07-31)
Geographical Focus
Global
Asset Class/ Sector
Fixed Income - High yield
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 2021-03-30)
USD 5,383,520,668.83
Management Fee
1.45%
Latest Dividend
N.A.

Sector Leaders

    No Funds

Dealing Information

Secure Transaction

Derivatives knowledge not required

HKD4,000.00Min. Subscription

1.45%

HKD4,000.00Min. Subscription

AUD / HKD / EUR / USD

HKD4,000.00Min. Subscription

HKD4,000.00

HKD4,000.00

Daily

14:00

-

Dividend Records

No Dividends

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. 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.
2. 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.
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. 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.
6. Derivatives risk
- Risks associated with financial derivative instruments (“FDI”) include counterparty/credit risk, liquidity risk, valuation risk, volatility risk and over-the-counter transaction risk. The leverage element/component of an FDI can result in a
loss significantly greater than the amount invested in the FDI by the Fund. Exposure to FDI may lead to a high risk of significant loss by the Fund.
7. Risks relating to reverse repurchase agreements
- In the event of the failure of the counterparty with which collateral has been placed, the fund may suffer loss as there may be delays in recovering collateral placed out or the cash originally received may be less than the collateral placed with the counterparty due to market movements.
8. Risks relating to repurchase agreements
- In the event of the failure of the counterparty with which cash has been placed, the Fund may suffer loss as there may be delay in recovering cash placed out or difficulty in realising collateral or proceeds from the sale of the collateral
may be less than the cash placed with the counterparty due to market movements
9. 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 may be concentrated in emerging markets, the Fund may 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.
10. 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.
11. 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 d.
12. Sovereign debt risk
- The Fund’s investment in securities issued or guaranteed by governments may be exposed to political, social and economic risks. In adverse situations, the sovereign issuers may not be able or willing to repay the principal and/or
interest when due or may request the fund to participate in restructuring such debts. The Fund may suffer significant losses when there is a default of sovereign debt issuers
13. 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, an investment in the Fund should not constitute a substantial proportion of an investment portfolio and may not be appropriate for all investors.
14. 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.
15. Euro and European Union (“EU”) related risks
- The Fund may have investment exposure to Europe and the Eurozone.
- In light of the sovereign debt crisis in Europe, such investment exposure may subject the Fund to certain risks. For example, it is possible that various Eurozone member countries could abandon the euro and return to a national currency and/or that the euro will cease to exist as a single currency in its current form.
16. 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.