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Emerging Local Bond Fund Inst - Acc

Article Introduction

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  • About this Fund
  • Performance

Objective
The Emerging Local Bond Fund offers efficient exposure to fast growing emerging markets by investing 80% of its assets in fixed income securities denominated in the local currencies of emerging countries. The fund may use derivatives such as options, futures, or swaps, and may or may not hedge its exposure to non-US currencies.

At a Glance
ISIN IE00B29K0P99
Bloomberg Ticker PIMEMLC
Fund Total Net Assets 2,733,328,879.17 USD
Management Fees (%) 0.89
Benchmark JPMorgan Government Bond Index-Emerging Markets Global Diversified Index (Unhedged)
Fund Inception Date 12/11/2007
Class Inception Date 12/11/2007
Base Currency Code USD
Effective Duration (Years) 5.05
Current Yield (%) 4.60
% YTD Performance 9.94
Effective Maturity 7.32
Average Coupon 5.22
Bull Duration Delta 0.00
Bear Duration Delta -0.10
Curve Duration -0.10
Mortgage Spread Duration 0.04

Data as of 05/31/2017

Daily Prices (USD)

NAV Day Change
12.71 -0.13
-1.02%
YTD Return (Net of Fees)
9.85%
as of 06/20/2017

Historical Prices (USD)

06/16/2017 06/19/2017 06/20/2017
12.86 12.84 12.71
All Historical Data
Emerging Local Bond Fund Filter Results
Pricing Distributions
The Inception Date (earliest data available) for this fund is 12/11/2007
Start Date:
End Date:
Summary
The fund invests primarily in a range of currencies and fixed income securities (which are loans that pay a fixed or variable rate of interest) issued by governments and companies from emerging markets 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 invest in emerging markets, which in investment terms are those economies that are still developing. The fund is likely to concentrate its investments in Asia, Africa, the Middle East, Latin America and the developing countries of Europe. The fund's benchmark is JPMorgan Government Bond Index- Emerging Markets Global Diversified Index (Unhedged). 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.
Fund Specific Documents
Quarterly Investment Reports
Holdings
Fund Net Cash Flow
Click here to view "KIIDs"
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.

Benchmark:
All Data as of
Time Period 1 mth 3 mth 6 mth 1 year 3 years 5 years 10 years Since Inception
Fund %
Benchmark %
Alpha %
All Data as of
Fund Performance
Chart shows performance from first month-end for the oldest share class.

Fund Pages

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General Documents

Prospectus
Annual Report
Semi Annual Report
KIIDs
PIMCO Lux UK Tax Reporting
Holiday Season Dealing Dates
Renumeration Policy

​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 +44 207 872 1369.

Investors should consider the investment objectives, risks, charges and expenses of this fund carefully before investing. This and other information are contained in the fund's prospectus, which may be obtained by contacting your PIMCO representative. Please read the prospectus carefully before you invest or send money.

Effective Duration: Measure of a bond portfolio's (or a bond's) price sensitivity to changes in interest rates. It is a weighted maturity at present value of all principal and interest payments.

Average Credit Quality: The credit quality of the holdings in a portfolio does not apply to the safety or stability of the fund.

Benchmark: JPMorgan Government Bond Index-Emerging Markets Global Diversified Index (Unhedged) is a comprehensive global local emerging markets index, and consists of regularly traded, liquid fixed-rate, domestic currency government bonds to which international investors can gain exposure. It is not possible to invest directly in an unmanaged index.

This Fund may concentrate its assets in a smaller number of issuers. Thefund may invest in the securities of issuers based in countries with developing or “emerging market” economies. These securities may present market, credit, currency, liquidity, legal, political, technical and other risks different from, or greater than, the risks of investing in developed foreign countries. The Fund can invest a portion of its assets in non-US securities, which can entail greater risks due to non-US economic and political developments. This risk may be enhanced when investing in Emerging Markets. Investment in a Fund that invests in high-yield, lower-rated securities, will generally involve greater volatility and risk to principal than investments in higher-rated securities. This Fund may use derivative instruments for hedging purposes or as part of its investment strategy. 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.

JPMorgan Government Bond Index-Emerging Markets Global Diversified Index (Unhedged) is a comprehensive global local emerging markets index, and consists of regularly traded, liquid fixed-rate, domestic currency government bonds to which international investors can gain exposure. It is not possible to invest directly in an unmanaged index. 
 
No part of this publication may be reproduced in any form, or referred to in any other publication, without express written permission.
Copyright 2012, PIMCO
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