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Objective
The Emerging Asia Bond Fund is a diversified portfolio of emerging Asia fixed income instruments with a global emerging markets currency overlay. The fund invests primarily in US dollar-denominated securities issued by sovereigns, quasi-sovereigns and corporate borrowers and also seeks tactical opportunities in locally denominated bonds.
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ISIN
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IE00B464Q616
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Bloomberg Ticker
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PEABEUI
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Fund Total Net Assets
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43,112,959.21 USD
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Management Fees (%)
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1.50
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Benchmark
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JPM JACI Composite Total Return Index
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Fund Inception Date
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06/01/2010
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Class Inception Date
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06/01/2010
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Base Currency Code
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USD
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Effective Duration (Years)
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4.86
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Current Yield (%)
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4.40
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% YTD Performance
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3.25
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Effective Maturity
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7.03
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Average Coupon
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5.10
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Bull Duration Delta
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0.00
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Bear Duration Delta
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-0.01
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Curve Duration
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0.14
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Mortgage Spread Duration
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0.00
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Data as of
05/31/2017
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Daily Prices
(USD)
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| NAV |
Day Change |
| 8.74 |
0.01
+0.11%
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YTD Return
(Net of Fees)
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3.96%
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as of 06/20/2017
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| 06/16/2017 |
06/19/2017 |
06/20/2017 |
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8.73
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8.73
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8.74
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Summary
The fund invests primarily in a range of fixed income securities (which are loans that pay a fixed or variable rate of interest) issued by companies or governments from Asian emerging market countries (such as Indonesia, China and India). Securities will mainly be priced in US Dollars but the fund may also hold securities that are priced in other currencies. The fund will also hold emerging market currencies from around the world. The investment advisor will choose securities with varying repayment dates based on its expectations for interest rate and exchange rate changes. The fund will mainly invest in emerging markets, which in investment terms are those economies that are still developing. The fund's benchmark is [90% JPMorgan Asia credit Index + 10% 1 month USD Libor] * [JPMorgan Emerging Local Markets Index] / [3 month USD Libor]. It is used to measure duration. Duration is the sensitivity of a fixed income security to a change in interest rates. The longer the duration of a fixed income security, the higher its sensitivity to interest rates. The securities will mostly be "investment grade", as determined by international ratings agencies. Whilst potentially producing a lower level of income than "non-investment grade" securities, they are also considered to be of lower risk.
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Managers
Michael A. Gomez
Mr. Gomez is a managing director in the Newport Beach office, a portfolio manager and head of the emerging markets portfolio management team. Prior to joining PIMCO in 2003, he was responsible for market making and proprietary trading of emerging market bonds at Goldman Sachs. Prior to that, he spent a year in Colombia serving as a financial consultant to the Ministry of Finance and Public Credit. In addition, Mr. Gomez has served on numerous other committees providing advisory assistance to emerging market countries or a market practitioner’s perspective to index providers. He has 23 years of investment experience and holds an MBA from the Wharton School of the University of Pennsylvania, where he also received his undergraduate degree.