[{"FundDetailTitle":"Euro Credit Fund E - Acc","CUSIP":"G7111X192","TabExclusion":"portfolio|documents"},{"FundDetailTitle":"Euro Credit Fund Inst - Acc","CUSIP":"G7097Y529","TabExclusion":"portfolio|documents"},{"FundDetailTitle":"Euro Credit Fund Inst - Income II","CUSIP":"G7112J119","TabExclusion":"portfolio|documents"}]
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Objective
The Euro Credit Fund is an actively managed portfolio that invests at least two-thirds of its assets in eurodenominated, primarily investment grade corporate and credit instruments. Portfolio duration may vary within two years of the benchmark and the Fund may tactically invest up to 10% of its assets in below-investment grade issues.
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ISIN
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IE00B2NSVP60
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Bloomberg Ticker
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PIMEUBD
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Fund Total Net Assets
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526,380,717.00 EUR
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Management Fees (%)
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0.46
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Benchmark
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Bloomberg Barclays Euro-Aggregate Credit Index
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Fund Inception Date
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01/31/2008
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Class Inception Date
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01/31/2008
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Base Currency Code
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EUR
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Effective Duration (Years)
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5.58
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Current Yield (%)
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2.30
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% YTD Performance
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1.74
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Effective Maturity
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7.36
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Average Coupon
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2.50
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Bull Duration Delta
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-0.05
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Bear Duration Delta
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0.09
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Curve Duration
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0.13
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Mortgage Spread Duration
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0.22
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Data as of
05/31/2017
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Daily Prices
(EUR)
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| NAV |
Day Change |
| 15.84 |
0.01
+0.06%
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YTD Return
(Net of Fees)
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2.00%
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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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15.82
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15.83
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15.84
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Summary
The fund invests primarily in a range of "investment grade" fixed income securities (which are loans that pay a fixed or variable rate of interest) issued by companies from around the world and are mainly priced in euros. The fund may also hold other currencies as well as securities that are priced in other currencies. The investment advisor will choose securities with varying repayment dates based on its expectations for interest rate and exchange rate changes. The fund may invest in emerging markets, which in investment terms are those economies that are still developing. The fund's benchmark is the Barclays Euro-Aggregate Credit Index. 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. Investment grade securities, as determined by international ratings agencies, whilst potentially producing a lower level of income than "non-investment grade" securities, are also considered to be of lower risk.
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Managers
Luke Spajic
Dr. Spajic is an executive vice president and portfolio manager in the Singapore office. Dr. Spajic leads emerging markets portfolio management in Asia and manages Asian credit portfolios. He is also a member of Asia-Pacific Portfolio Committee. Previously at PIMCO, he was a senior credit portfolio manager in Newport Beach, head of U.S. credit research and a member of the Americas Portfolio Committee. In PIMCO's London office, he was head of pan-European credit and ABS portfolio management and a member of the European Portfolio Committee. Prior to joining PIMCO in 2007, he worked as a trader on the global macro proprietary trading desk at Goldman Sachs. Previously, he was in portfolio management at Highbridge Capital, a division of J.P. Morgan, and prior to that, he worked for Lehman Brothers. Earlier in his career he was a consultant to the European Commission and Bankers Trust. He holds a Ph.D. in economics from Cambridge University.